https://dcebrief.com/russia-reportedly-making-plans-to-subsidize-domestic-crypto-mining/
God I wish I could trust Russia but, I can't. Any plans from Russia regarding crypto will benefit the government and not the people I'm afraid but, that could all backfire if the population moves quickly enough to adopt the technology.
I would be very interested in hearing peoples considered opinions on what is really going on there.
We've had reports in recent months suggesting that Putin associates have been ramping up their involvement in cryptocurrency. Given the country's systemic cronyism, I suspect that any embrace of digital currency is designed to enrich Vlad's friends.
At the same time, though, Putin does seem to have his country's best interests at heart. So, that probably factors into the equation too..
Interestingly, regardless of the intentions behind the subsidy, this may also work out in the global interests should different governments begin to compete to attract the wider cryptomarkets to their jurisdictions. It could also be tremendously good for the Russian people, who by comparison to US standards earn very little.
Agreed. The intentions matter less than the outcome in this instance. Even if we assume the worst motivations, the thing we need to be looking for is if/how these actions ultimately benefit the people. If it can provide new opportunities for the citizens of Russia, then it is probably a worthwhile endeavor - even if some of Vlad's friends end up enriching themselves at the same time.