Kremlin's Sudden Obsession w Bitcoin and Other Cryptocurrencies

Interesting article thanks for posting it. I will say this about Russia- they have adapted a lot better to the 21st century and the internet age than we have.

 

Yandex much comrade?

 

It's just smart. Russia is using the most cost effective ways to project power. We're getting caught unprepared for it.

 

I wonder if I should start investing in bitcoin.

 

i wonder that 6 years ago and still wondering

 

Yeah, just look at how big and innovative the Russian tech sector is compared to the US and how amazing their economy is doing.

Russians have started obsessing over cryptocurrency because their own currency and banking system is such a mess.

 

He was obviously referring to the government, not the private sector.

 

In what way has the government effectively adapted to the internet age? They've done nothing to spur technological innovation. They have an economy as dependent as ever on fossil fuels as opposed to any research or support for renewables. On crypto, they've banned and fought it as much as they could. It's not the government looking forward that has changed any views on crypto in Russia - it's a combination of the private sector fleeing the currency and the corrupt leadership needing ways to launder money. None of that is forward looking - it's just a result of desperation as the whole country is falling backwards.

What exactly is the Russian government's forward thinking on the 21st century or the internet age? And what has it gotten them?

 

Mark Cuban and believe it or not, our own Daryl Morey has had a lot to say about Bitcoin over the past year. I recommend looking up their tweets and other statements on the matter.

I think short answer is not now at least and folks investing today could lose a lot of money.

 

Their cyber troll army has been mentioned a lot in the news lately...

Dmitry Medvedev tried to spur billion dollar investment into a new silicon valley a few years back, but with sanctions, corruption and a collapsed ruble, it didn't amount to much. Probably why that region is still known for cybercrime and spreading malicious worms and ransomware.

 

The quote was that they've adapted well. They're not trying to be technologically innovative, they're trying to project power in ways that are cost effective and difficult to combat. They've been incredibly successful with that. The US government and American corporations are hacked on a regular basis with all kinds of private, proprietary, and even classified material exposed. It's only a matter of time before a power grid gets taken down. We spend $600m a year on our military and Russia has a couple of guys sitting in an apartment eating pizza, hacking everything we've got.