Cryptocurrency interest is skyrocketing in Russia
According to data provided by Google, searches for Bitcoin, Ethereum, and for the crypto space in general have been sky rocketing.
That doesn't sound all that surprising but let me put that statement into context for you.
Bitcoin was created in 2009, yet the greatest interest from Russian users came within the first 6 months of 2017. The number of searches for the industry as a whole grew by more than 250% in the last 6 months alone.
That means that at no no point since it's creation has cryptocurrency ever been more popular than it is right now, and it's by a wide margin!
To further put things into perspective.
Check out this chart released by Google of the search analytics by topic:
As you can see the largest increase is being seen in Ethereum.
Searches about mining are the second highest searched item.
This is all very interesting considering cryptocurrency in Russia was once on the verge of being banned in 2016. That legislation didn't pass and then later the possibility of outlawing mining was discussed.
Not surprise that mining is being heavily searched.
Russia has gone from the currency and mining possibly being outlawed to legalizing in a matter of months.
Now it appears the country is seriously considering creating a state backed mining center with a potential goal of 30% of global Bitcoin mining share.
More on that can be read here:
If Bitcoin and cryptocurrency were to be legalized, and then potentially state backed, that would provide another huge source of demand going forward.
Stay informed my friends.
Sources:
https://news.bitcoin.com/google-says-russias-interest-in-bitcoin-up-220-mining-560-ethereum-760/
Image Sources:
https://news.bitcoin.com/google-says-russias-interest-in-bitcoin-up-220-mining-560-ethereum-760/
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This is a race between world powers now. Whoever controls mining will control the next 100 years of finance. The race to the moon will pale in comparison
the thing is, everyone is trying to be the "world power". we will see a lot of countries competing with each other. This will bring decentralization into the world of finance. It´s still sad to see that china is having control of almost every Bitcoin mining facility. Hopefully this will change.
A russian Putin minion is investing 100 million in Bitcoin mining facilities. McAfee is investing too in Washington state, the race is on.
Yes. Even in a decentralized arena, there is a way to centralize part of the process. Mining seems to be the ticket where, with enough horsepower, one can simply overpower everyone else.
I didn't even think about this. how long before the govt will start mining?
They already are mining in Russia and North Korea, that we know of...
The Russians are also well known hackers....I wouldnt be surprised if they are involved in cleaning out wallets around the world. Perhaps they were behind Mt Gox? Some of the other things dont make the mainstream news?
Absolutely! I agree, let's se who arrives first.
China is on the lead so far, that we know of... If Satoshi's coins are in the CIA's hands they are miles ahead
McAfee is working with Chinese too...he is adding security to their systems that, in his view, other miners around the world dont have.
For sure, and good analogy. I think a lot of people are focusing on which coin will make it. But I think you're going to see State or Bank controlled coins like the Utility Settlement coin that 10 of the Largest banks are collaborating on or rumors of Russian or China creating a state coin.
Only time will tell, but exciting times!
I think a lot of people are overlooking litecoin.
Etherium is great and Bitcoin here to stay, bitcoin will certainly double, but I think litecoin will double if not triple, so if you have 5000 in bitcoin you may double that, but think of what 5000 of litecoin could yield in... I'm just guessing but litecoin has been showing strong legs. and could triple that 5000.
interesting times....
Litecoin is going to see strong inflows as a rotational asset when Bitcoin or Ethereum bet too expensive, like silver does when gold gets to rich.
Then factor in that LTC is fast as shit now and it will help demand a lot.
Blah, LTC is the most boring altcoin that exists. I can't think of one possible reason why I'd even consider purchasing LTC over Dash or Monero as a BTC alternative. It just makes no sense.
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I agree that could create a surge in demand. However we shouldn't forget that just a few days ago, the deputy finance minister in Russia proposed to restrict bitcoin trading to qualified investors only. I think it can still go both ways in Russia: Either dampening effect because of restrictive regulation vice versa due to positive legislation in favor of the industry. Very interesting to follow ;)
The Russian government will do anything to be seen as besting the U.S. in anything tech-related, so their general about-face concerning crypto is to be expected.
I, for one, would not be surprised at all to see Buterin's face on the side of a Russian satellite soon...
Well I got new for Russia and any other country that wants to own the most Bitcoin. I own more then one and they'll have to pay good to buy it from me.
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Still 20.999,900 out there.
Bring on the rebirth of Vodkacoin :P
Failed at its first attempt....give it time ..im sure some smart cryptopreneur will make a good use for the name..
https://github.com/CCPorg/VDC-VodkaCoin-Original
It seems to me that the train for the mining of cryptocurrencies in China. Others did not catch up
I would say Russian cryptocurrency interest is growing at about the same rate as in most other large economies. Example: as you can see from Google Trends tool, "cryptocurrency" term on Russian and German languages is at similar figures (https://trends.google.com/trends/explore?q=%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B,Kryptow%C3%A4hrung). German language wins a bit even though Russian speaking internet user base (most of former USSR) is much higher than German. CryptoCurrencies finally went to mass market this summer all around the world. Germany itself has an average level of dedication, but developed Asian regions - just crazy about crypto.
this is the REAL info
http://www.zerohedge.com/news/2017-08-29/russia-backpedals-bitcoin-unveils-plan-ban-cryptocurrency-sales-ordinary-people?page=3 Russia Backpedals On Bitcoin - Unveils Plan To Ban Cryptocurrency Sales To "Ordinary People"
Still in the early adopter phase, we may be finally getting to a point where the mass adoption phase can been seen in the horizon :-)
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Well if I'd have a coin named WhopperCoin created by a huge company like Burger King, I'd be interested too :)
I prefer the McDonalds coin....better company.