Why so much bitcoin popularity in Russia? - page 2.

paraipan

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Quote from: naima53 on September 16, 2012, 12:57:52 PM

Quote from: Transisto on September 16, 2012, 10:04:25 AM

How would this hit bitcoin ?

Don't you think this will stop gradually once mining goes ASICs ?

They make their own ASIC https://bitcointalksearch.org/topic/deepbit-reclaimer-asics-104680

Great news, russians FTW. Where can I preorder an ASIC?

Sorry for the off-topic

naima53

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Quote from: Transisto on September 16, 2012, 10:04:25 AM

How would this hit bitcoin ?

Don't you think this will stop gradually once mining goes ASICs ?

They make their own ASIC https://bitcointalksearch.org/topic/deepbit-reclaimer-asics-104680

naima53

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Quote from: yokosan on September 16, 2012, 09:47:21 AM

Also, MMM.

umm dead.

naima53

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Quote from: Sage on September 16, 2012, 08:33:15 AM

The answer lies in Russia's history.

That history has taught them in a very viscerally painful way not to trust paper currency (and central authorities that govern it).

Those holding the Euro are next to get this painful lesson... those holding the Dollar will get it soon after that.

Said, how clueless the average American is who's spending that paper. They have no clue how the Federal Reserve scam works. Talk to the average Russian though, and they have a completely different view.

Cheers

+1000 I - Russian (from Russia). And yes, xaлявa... Roll Eyes

Still very Russian gambling. And almost no one is paying for electricity. And the poor. Transferring money directly into rubles - 4x 5870 had revenue comparable to the average wage per month.

yokosan

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Quote from: Transisto on September 16, 2012, 10:04:25 AM

How would this hit bitcoin ?

Don't you think this will stop gradually once mining goes ASICs ?

There are people, some just 16 year old script kiddies, that are making huge amounts of BTC with botnets and selling it off for profit.

How does it hit Bitcoin? Well for a start there are hundreds of thousands of computers out there that have viruses installed that are mining Bitcoins without peoples permission, that's not going to go down well.

There will be a difficulty increase as a result of the botnets, taking coin away from legitimate mining operations.

I see no reason why this would stop just because of ASICs. With ASICs you still have to buy the hardware. Here there is no start up cost at all unless you are buying/renting the botnet.

This whole state of affairs undermines bitcoin and is enough to destroy faith in the currency. Mining needs an overhaul, I don't pretend to know the solution.

Spekulatius

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Quote from: Transisto on September 16, 2012, 10:04:25 AM

Quote from: yokosan on September 16, 2012, 09:47:21 AM

botnets

I am surprised how little attention this gets. There are hundreds of people making $10k+ per month with botnets. It doesn't even matter how good the hardware is when you have thousands of zombies. There are pre-made miners available for sale, some of which are completely undetectable. Once anti-virus detects them it is very easy to crypt them and carry on.

This is not a small scale thing. It is not an exception. This is happening on an absolutely massive scale and once people find out just how much of this is going on bitcoin is going to suffer, hard.

I'm not making this up. I'm not spreading FUD. This is a fact and it is my prediction that it will hit Bitcoin harder than anything else has done to date.

If you don't believe me just head over to some of the popular black hat forums and search for bitcoin.

Also, MMM.

How would this hit bitcoin ?

Don't you think this will stop gradually once mining goes ASICs ?

+1

valid point

Transisto

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Quote from: yokosan on September 16, 2012, 09:47:21 AM

botnets

I am surprised how little attention this gets. There are hundreds of people making $10k+ per month with botnets. It doesn't even matter how good the hardware is when you have thousands of zombies. There are pre-made miners available for sale, some of which are completely undetectable. Once anti-virus detects them it is very easy to crypt them and carry on.

This is not a small scale thing. It is not an exception. This is happening on an absolutely massive scale and once people find out just how much of this is going on bitcoin is going to suffer, hard.

I'm not making this up. I'm not spreading FUD. This is a fact and it is my prediction that it will hit Bitcoin harder than anything else has done to date.

If you don't believe me just head over to some of the popular black hat forums and search for bitcoin.

Also, MMM.

How would this hit bitcoin ?

Don't you think this will stop gradually once mining goes ASICs ?

Come-from-Beyond

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Quote from: Sage on September 16, 2012, 08:33:15 AM

The answer lies in Russia's history.

That history has taught them in a very viscerally painful way not to trust paper currency (and central authorities that govern it).

Those holding the Euro are next to get this painful lesson... those holding the Dollar will get it soon after that.

Said, how clueless the average American is who's spending that paper. They have no clue how the Federal Reserve scam works. Talk to the average Russian though, and they have a completely different view.

Cheers

As a guy who has Russian mentality I assure u that main cause is free money (bitcoins).

yokosan

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botnets

I am surprised how little attention this gets. There are hundreds of people making $10k+ per month with botnets. It doesn't even matter how good the hardware is when you have thousands of zombies. There are pre-made miners available for sale, some of which are completely undetectable. Once anti-virus detects them it is very easy to crypt them and carry on.

This is not a small scale thing. It is not an exception. This is happening on an absolutely massive scale and once people find out just how much of this is going on bitcoin is going to suffer, hard.

I'm not making this up. I'm not spreading FUD. This is a fact and it is my prediction that it will hit Bitcoin harder than anything else has done to date.

If you don't believe me just head over to some of the popular black hat forums and search for bitcoin.

Also, MMM.

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: SaltySpitoon on September 16, 2012, 08:39:20 AM

and to answer the OP, well, what else is there to do in Russia?

Drink водка? Grin

SaltySpitoon

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Welcome to the SaltySpitoon, how Tough are ya?

Quote from: cbeast on September 15, 2012, 05:57:46 PM

I'm not sure what map you are looking at, but http://www.weusecoins.com/globe-bitcoin/ shows differently.

After looking at that map, I'm not hell bent on becoming the first node from Antarctica.

and to answer the OP, well, what else is there to do in Russia?

Sage

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The answer lies in Russia's history.

That history has taught them in a very viscerally painful way not to trust paper currency (and central authorities that govern it).

Those holding the Euro are next to get this painful lesson... those holding the Dollar will get it soon after that.

Said, how clueless the average American is who's spending that paper. They have no clue how the Federal Reserve scam works. Talk to the average Russian though, and they have a completely different view.

Cheers

disclaimer201

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It's very cold in Russia. Many probably heat their houses with wood or old electric ovens that heat up over night. Might as well buy a lot of Gpus and get paid for an expensive necessity.

Seal

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Quote from: danalex on September 15, 2012, 10:00:44 AM

Yesterday I was looking at map that showed popularity of bitcoin worldwide and was wondering why Russia got the first place.
There is a good reason for bitcoin being so popular in Russia.
It is probably because there is a Russian TV channel that discusses bitcoin all the time: "Russia Today" TV (rt.com).
This may tell us how important is mediatic coverage for bitcoin popularity.

Where is this map you are looking at?

nobbynobbynoob

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Annuit cœptis humanae libertas

Well, mined coins aren't exactly free but neither do they require hard physical or tedious labour! (Except by the mining rig that is.)

Come-from-Beyond

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I got the answer. Mining gives free bitcoins. And russians love "халява" (freebie).

cbeast

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Let's talk governance, lipstick, and pigs.

I'm not sure what map you are looking at, but http://www.weusecoins.com/globe-bitcoin/ shows differently.

Vitalik Buterin

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Quote from: Come-from-Beyond on September 15, 2012, 04:11:14 PM

Quote from: danalex on September 15, 2012, 10:00:44 AM

Yesterday I was looking at map that showed popularity of bitcoin worldwide and was wondering why Russia got the first place.

Coz Russia is quite big. If Bitcoin is spread equally around the globe, then it's normal that big countries have more bitcoin followers.

Nope, Russia has more bitcoin clients per million than pretty much everything outside other, even more extreme, Eastern European countries like Ukraine, and even if you correct for GDP its Bitcoin popularity is (or at least was back in February) nine times higher than expected.

Come-from-Beyond

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Quote from: danalex on September 15, 2012, 10:00:44 AM

Yesterday I was looking at map that showed popularity of bitcoin worldwide and was wondering why Russia got the first place.

Coz Russia is quite big. If Bitcoin is spread equally around the globe, then it's normal that big countries have more bitcoin followers.

SysRun

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Nigerian Princes like bitcoin for the same reasons.

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