Oil has become the past, the digital currency into Russia’s new favorite


nnnRampage comment: From the global block chain and the development of digital money situation, Russia’s performance in this area is not too prominent. However, recently Russia has begun to recognize the positive role of this new technology, it seems that will set off a round of virtual currency boom. Moreover, some of the regional characteristics of Russia make the local digital currency mining has a competitive advantage, the government level also has action, which makes its future development worth the wait.n
nnTranslated by: Inan
nDmitry Marinichev is in a warehouse in the suburbs of Moscow, and the hundreds of drums on the shelves are digging his voice almost deafening.n
nThe 42-year-old entrepreneur is Putin’s Internet consultant, he predicted:n
nn”The currency we are using is about to disappear.”n
nnMarinichev is one of the most well-known digital currency traders in Russia, responsible for the operation of this large facility, which can collect virtual currency through its client’s account.n
nIndividuals or companies like Marinichev will provide computing power to run block chains that record virtual currency transactions around the world. They will receive a virtual currency as the return to provide such services, of which the bit currency is the most popular.n
nThis kind of mining factory marks the increasing popularity of Russia for Bitcoin and other digital currencies. This currency is not supported by the government or the central bank, but is increasingly used to buy goods or services on the Internet.n
nMarinichev said:n
nn”Anyone who is not familiar with computer science can use virtual currency, which is as easy as buying a mobile phone and connecting it to a mobile network.”n
nnThis practice is very popular in Russia, making the local computer store graphics cards are out of stock, because Bitcoin miners in the use of this game for the development of video cards to improve their home computer processing power.n
nMarinichev announced a plan this week, inviting investors to invest $ 100 million to join the mining club and develop a Russian mining chip called Multiclet through his start-up company.n
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nLong winter brings mining advantagesn
n29-year-old computer scientist Sergei’s company power grid with six graphics cards, he said:n
nn”The surge in virtual currency value makes mining very profitable and becomes a professional field.”n
nnHe began his mining business in March, when Bitcoin and its main rival, Taibai currency, reached a record high on the digital currency exchange.n
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nDmitry Marinichevn
nSince the beginning of 2017, the value of Bitcoin has tripled, more than $ 4,000 last weekend, and the price of the currency has risen by 4500% to $ 374 in June and fell to $ 268 in August.n
nAlthough mining is not difficult, but the power consumption is very large, about a few households need electricity.n
nSergei said:n
nn”All my friends who are interested in Bitcoin or Taitong are installing the equipment and accessing the corporate network, and I do so, and others will use the municipal cable.”n
nnRussia has a competitive advantage in the mining environment. Under the guidance of Marinichev, we saw the brochure designed for potential investors: here, as long as 1.3 cents per kilowatt-hour, and the long winter reduces the cost of the cooling system.n
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n”Not only bad”n
nThe Russian authorities have long been skeptical about virtual currency, but now it is recognized that it is a force. The government will discuss a new bill this fall to regulate the holding and creation of digital money in Russia.n
nAt present, the virtual currency in Russia has no legal basis, often associated with illegal activities, such as hacking, was used to buy drugs on the dark line.n
nMarinichev said:n
nn”Now, the government has realized that virtual currency is not only bad, it can also bring benefits, especially in the economic aspects.”n
nnPutin even met with Buterin at the Economic Forum in early June, and the 23-year-old founder of the ethertop was lobbying the Russian president to expand the use of digital money in Russia.n
nLast year, Russia’s largest bank tested the platform for digital currency trading. National central banks even consider the development of “state-owned virtual currency.”n
nAlthough the global digital money market in August reached 116 billion US dollars, but it is also very immature, volatile, easy to lead to speculation.n
nFor example, Bitcoin lost nearly one-third of its value between mid-June and mid-July, and then returned to normal after more than a week. Since then, it has been breaking the price record.n
nMarinichev said:n
nn”The wave of virtual currency is not a temporary trend or a brief phenomenon.Our life virtualization is a continuous development of the market process.n
nnSeveral cafes and restaurants in Moscow have been receiving virtual currency payments since the summer, showing the characteristics of this era.n

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