Vladimir Putin is no dummy, he sees the Value in BTC, wants to raise 100m to expand Russian mining operations.steemCreated with Sketch.

in #bitcoin7 years ago

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In what some have called a “watershed” moment for bitcoin, Bloomberg reports that a company co-owned by an aide to Russian President Vladimir Putin is seeking to expand Russia’s bitcoin-mining industry, leveraging Russia's cheap energy to rival China as the world’s largest mining market.

The company, known as Russian Miner Coin, or RMC, is seeking to raise $100 million in an initial coin offering, promising buyers a right to 18% of the company’s mining revenue, according to a presentation cited by Bloomberg.

“Russian Miner Coin is holding a so-called initial coin offering, where investors will use units of Ethereum or bitcoin to buy new RMC tokens. These new tokens will have rights to 18 percent of the revenue earned with the company’s mining equipment, according to a presentation posted on its website.”
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According to Brian Kelly, a frequent CNBC contributor, the announcement is a “watershed” development in the history of bitcoin because it suggests that Putin recognizes the value of the pioneering digital currency as a reserve asset. The Russian president has already expressed an interest in blockchain technology – particularly Ethereum. In June, he met with Ethereum founder Vitalik Buterin on the sidelines of the St. Petersburg Economic Forum and offered his support for Buterin’s plans to help local partners adopt the technology in Russia.

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Interesting! I buy more BTC.

@broncnutz,
Actually that would be a very interesting news. yeah Russia smell the heat of BTC and they are preparing for it. Meantime USA SEC is still complaining :/
Thanks for sharing this useful information!

Cheers~

Australia considering recognizing Bitcoin as a legitimate currency and Russian meetings with Vitalik - these are crazy times.

I was afraid that most countries at some time would adopt state controlled blockchain based currencies in order to keep their control over the economy but these recent news indicate that some of the current free currencies will become recognized assets in the future.

As soon as countries (even the small ones) adopt Bitcoin or another alt coin the prices will increase dramatically.

Good times ahead

I'm so excited about this. Crypto markets gonna soar.......and most people still have never even heard the word bitcoin.

It's news worth taking note of. It means that at least some governments realize they can't contain crypto-currencies and they might as well try to gain from the momentum.

My initial feeling is that I wish governments would just ignore crypto... but I can see how some smaller countries embracing it may be a good thing.

Thank you for sharing this news. This bodes well for both Bitcoin and cryptos in general. It looks like it's time go break out the old miners and grab as much as I can.

I wonder what Trump thinks of crypto's....

If you hold a gozillion dollars.......you don't want people holding Crypto, or gold.....you want to brainwash them to hold dollars.

You got that right! The man is definitely a long-term thinker! Under his leadership, his country has been stock piling precious metals for years. Bitcoin (and other cryptos) are the next logical step.

Russia and China are going into crypto BIG-TIME. The U.S. is not. What does that tell ya???

It's looking like bad news to me ... :(

It's a very important news my friend!

Thanks for sharing. Upvoted and resteemed

This is indeed very interesting. If this comes to fruition then it would really look like there is another major player in town aside from chinese miners

The United States are going to miss out the biggest shift in history, I guess they don't want to mess with there so called "printing press" that is currently running lol

I had the same thought when I read this post. Keep on stackin!

@broncnutz, So is this a good sign to buy BTC Now?

I think so. If we get a dip anywhere under 3k usd I think it's a strong buy.

Used to see it at around $1900 maybe a few weeks ago but wanted to wait for it to go down more. Unexpectedly, now it over $3300 :( Bad for me

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