Russia’s Internet Ombudsman Dmitry Marinichev founded a powerful mining farm, launched on the territory of Technopolis Moscow, former Moskvitch automobile-manufacturing factory. In an interview to Russia-24 TV, Marinichev covered perspectives of the development of mining in Russia and specifics of cryptocurrency. We introduce you to the most interesting thoughts from the interview.

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Mining is not fishing in a pond, when fish may disappear one day. It is a transactional support of the network, which operates the way banks perform simple financial operations, transactions between peoples, so mining will last forever.

We are elaborating and producing devices, and what you can see at our farm is the intermediate variant of testing, saving and checking the efficiency of our equipment. This is more of a production warehouse, rather than mining farm.

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The share of Russian mining is absolutely insignificant, while Russia has great potential to improve this indicator to 15-30% in 1-3 years. We have created everything here in 6-8 months; you can’t neglect the speed which rules the Crypto World. The most important achievement is the interest of Russian citizens, entrepreneurs, founders of companies, who learn everything very quickly.

02.11.2017 | 11:26 Unraveling Mining

Of course, this sector can not be regulated, including through taxation, since it is impossible to go after the citizens in this system. In fact, mining is not a search for certain coin in the internet network, but a simple mathematical function, which is calculated by an electronic calculating device. It does not differ much from a simple computer game or an office program, which we use to type a text.

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I think that our citizens are educated and reasonable enough to have the opportunity to exchange cryptocurrency for Russian rubles and use it as savings or investments. We do not include economic operations in the territory of Russia, since today it is forbidden by the law, while the situation is unlikely to change in the near future.

Of course, crypto currency is not a bubble; neither does it operate based on pyramid scheme. The rate of bitcoin cannot drop to USD 100, which is conditioned by technological specifics, restrictions of the network itself and the number of existing participants. Nevertheless, like any other technology, it attracts scammers, which present a threat to our citizens.

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