Russia wants to build a better bitcoin
There has been many criticism of bitcoin especially with the delays in confirmation of transactions and how bitcoin is being “centralized” as posted by @profitgenerator here.
Now with the Russian Government’s announcement of their intent to “build a better bitcoin”, read the article here, there appears to be a concerted effort to take over the crypto space with governments getting in on the act.
Not long ago I posted the comment made by the Coinbase CEO about the use of bitcoin or other alt-coins for use by national government and you can read it here. Thus possibly putting them out the reach of ordinary people.
Will other countries join Russia in developing their own national alt-coin? Is this a coming trend? What does this then portend to the crypto-currencies being developed by non-state actors?
We still have some way to go before the mass adoption of crypto-currencies but the future appear clear for all to see.
The whole point of cryptocurrency is its de-centralized structure. I don't think this will be a good move from Russia.
Unfortunately we the people do not have a say where ever we maybe. It all depends on your government whether it is benevolent or malevolent.
"Russia & decentralized" is like "water & fire"
How much do we centralise and how much do we decentralise, either way some one or some group will always gain the upper hand.
LOL I actually read two years ago how Putin said he wanted to have a Russian BACKED EXCHANGE not a coin! Just a place where you could exchange bitcoin for rble where u wcould count on the ecxcgange not runnng off with your money cuz it would be under russian control
An yeah that might be ok but yeah I hope Putin believes in EThereum for realium
that putin ethereum story really made a lot of russian bitcoiners happy, because yeah no matter what crypto currency your invested in, u an always easily change the coin for a diferent on! bitcoinmiiners can be used to mine ethereum or whatevr they need to mine!
So yeah russia will learn not to reinvent the wheel an to just stick to ethereum an put russianstate backing into Ethereum and make ethereum essentially CONTROLLEED by russiathe same way bitcoin mining is "contolled" by cchina even tho this isnt exactly true