According to data provided by Google, searches for Bitcoin, Ethereum, and for the crypto space in general have been sky rocketing.
That doesn't sound all that surprising but let me put that statement into context for you.
Bitcoin was created in 2009, yet the greatest interest from Russian users came within the first 6 months of 2017. The number of searches for the industry as a whole grew by more than 250% in the last 6 months alone.
That means that at no no point since it's creation has cryptocurrency ever been more popular than it is right now, and it's by a wide margin!
To further put things into perspective.
Check out this chart released by Google of the search analytics by topic:
As you can see the largest increase is being seen in Ethereum.
Searches about mining are the second highest searched item.
This is all very interesting considering cryptocurrency in Russia was once on the verge of being banned in 2016. That legislation didn't pass and then later the possibility of outlawing mining was discussed.
Not surprise that mining is being heavily searched.
Russia has gone from the currency and mining possibly being outlawed to legalizing in a matter of months.
Now it appears the country is seriously considering creating a state backed mining center with a potential goal of 30% of global Bitcoin mining share.
More on that can be read here:
If Bitcoin and cryptocurrency were to be legalized, and then potentially state backed, that would provide another huge source of demand going forward.
Stay informed my friends.
Sources:
https://news.bitcoin.com/google-says-russias-interest-in-bitcoin-up-220-mining-560-ethereum-760/
Image Sources:
https://news.bitcoin.com/google-says-russias-interest-in-bitcoin-up-220-mining-560-ethereum-760/
Follow me: @jrcornel
This is a race between world powers now. Whoever controls mining will control the next 100 years of finance. The race to the moon will pale in comparison
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the thing is, everyone is trying to be the "world power". we will see a lot of countries competing with each other. This will bring decentralization into the world of finance. It´s still sad to see that china is having control of almost every Bitcoin mining facility. Hopefully this will change.
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A russian Putin minion is investing 100 million in Bitcoin mining facilities. McAfee is investing too in Washington state, the race is on.
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Yes. Even in a decentralized arena, there is a way to centralize part of the process. Mining seems to be the ticket where, with enough horsepower, one can simply overpower everyone else.
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I didn't even think about this. how long before the govt will start mining?
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They already are mining in Russia and North Korea, that we know of...
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The Russians are also well known hackers....I wouldnt be surprised if they are involved in cleaning out wallets around the world. Perhaps they were behind Mt Gox? Some of the other things dont make the mainstream news?
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Absolutely! I agree, let's se who arrives first.
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China is on the lead so far, that we know of... If Satoshi's coins are in the CIA's hands they are miles ahead
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McAfee is working with Chinese too...he is adding security to their systems that, in his view, other miners around the world dont have.
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For sure, and good analogy. I think a lot of people are focusing on which coin will make it. But I think you're going to see State or Bank controlled coins like the Utility Settlement coin that 10 of the Largest banks are collaborating on or rumors of Russian or China creating a state coin.
Only time will tell, but exciting times!
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I think a lot of people are overlooking litecoin.
Etherium is great and Bitcoin here to stay, bitcoin will certainly double, but I think litecoin will double if not triple, so if you have 5000 in bitcoin you may double that, but think of what 5000 of litecoin could yield in... I'm just guessing but litecoin has been showing strong legs. and could triple that 5000.
interesting times....
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Litecoin is going to see strong inflows as a rotational asset when Bitcoin or Ethereum bet too expensive, like silver does when gold gets to rich.
Then factor in that LTC is fast as shit now and it will help demand a lot.
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Blah, LTC is the most boring altcoin that exists. I can't think of one possible reason why I'd even consider purchasing LTC over Dash or Monero as a BTC alternative. It just makes no sense.
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I agree that could create a surge in demand. However we shouldn't forget that just a few days ago, the deputy finance minister in Russia proposed to restrict bitcoin trading to qualified investors only. I think it can still go both ways in Russia: Either dampening effect because of restrictive regulation vice versa due to positive legislation in favor of the industry. Very interesting to follow ;)
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The Russian government will do anything to be seen as besting the U.S. in anything tech-related, so their general about-face concerning crypto is to be expected.
I, for one, would not be surprised at all to see Buterin's face on the side of a Russian satellite soon...
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Bring on the rebirth of Vodkacoin :P
Failed at its first attempt....give it time ..im sure some smart cryptopreneur will make a good use for the name..
https://github.com/CCPorg/VDC-VodkaCoin-Original
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It seems to me that the train for the mining of cryptocurrencies in China. Others did not catch up
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I would say Russian cryptocurrency interest is growing at about the same rate as in most other large economies. Example: as you can see from Google Trends tool, "cryptocurrency" term on Russian and German languages is at similar figures (https://trends.google.com/trends/explore?q=%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B,Kryptow%C3%A4hrung). German language wins a bit even though Russian speaking internet user base (most of former USSR) is much higher than German. CryptoCurrencies finally went to mass market this summer all around the world. Germany itself has an average level of dedication, but developed Asian regions - just crazy about crypto.
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this is the REAL info
http://www.zerohedge.com/news/2017-08-29/russia-backpedals-bitcoin-unveils-plan-ban-cryptocurrency-sales-ordinary-people?page=3 Russia Backpedals On Bitcoin - Unveils Plan To Ban Cryptocurrency Sales To "Ordinary People"
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Still in the early adopter phase, we may be finally getting to a point where the mass adoption phase can been seen in the horizon :-)
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Well if I'd have a coin named WhopperCoin created by a huge company like Burger King, I'd be interested too :)
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I prefer the McDonalds coin....better company.
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Great post! As someone who's beginning to invest in Cryptocurrencies soon, its both exciting and reassuring that large countries are ramping up their interest! The opportunities in block chain are close to limitless and large states/companies investing and exploring Ethereum could be whats needed to help it reach a new level!
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the world is interested yeeeaahhhhh
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'Russia Today' is posting cryptocurrency news pretty often these days which in itself is interesting. However, a few days ago they were talking about restricting crypto trading, so that only professional brokers and major investor would be allowed to trade.
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great post thanks for sharing!!!
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Nice post dear @jrcornel and i like post you
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Final rules in Russia will be set up to benefit the oligarchs.
Of course, same is likely for US as well. Only difference is oligarchs are people in Russia. In US, they are Goldman Sachs, Citibank, Morgan Stanley, etc
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Hi nice post you are the best 😻
I have a question its : iam have 200 followers and my reputation is 18 👌👎👎😾how does this reputation work i dont understand and what is my steemit problems ?? You have any ideas!!
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I'm pretty sure the value of steem will rise ten folds or more than eventually when more and more people will be aware of it. Thanks for the great post @jrcornel!
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That's great news.
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that is good news !
I do what I can to help promote Crypto in russia. I see many other high profile Steemians are active on russian steemit engine Golos as well.
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good post @jcornel, thanks for sharing
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Real interesting read! Thanks for sharing :D
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like info, thanks
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gracias por compartir este contenido con nosotros te di un voto espero que te guste
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Great information that may be getting the attention of people using crypto currency in mass.
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Crypto currency in the trend) This is quite natural
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Hi @jrcornel indeed this is good news that cryptocurrency is gaining much influence in Russia regardless of the challenges it had undergone like been banned as well as the possibility of outlawing mining the industry that support cryptocurrency in Russia but i am glad that the Russian government is planing to create a state backed mining center with a potential goal of 30% of global bitcoin mining share,truly Russia has realized the current way to follow that will star growth in their economy cryptocurrency is the way.
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The google searches go up and down. I find the above numbers misleading -check the chart yourself on trends.google.com.
Russia's government has long been hostile to cryptocurrencies. When the Russian central bank has developed their own cryptorubble, will they still tolerate other currencies?
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I've read some articles in that matter, but this one is really good!
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I take this as a good news. Russia is a big and potential market with cash.
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amazing price..good job
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More markets = increased demand and price. Can't wait to buy at close to $4200 and then let BTC find support and bounce to new highs!
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I won't even try to say I understand a lot of this crypto stuff, but you do make it easier than most to start...A friend of mine suggested I interact with you some and see if I can maybe gain your support. I am a recovering Heroin addict with 19 months clean. I am the Resident Manager at a Transitional Housing program, I attend college full time, and I blog about my life and recovery issues in general. I have succeeded in getting a chat room started in Discord for #Recovery-Addiction and it is growing. I am trying to reach people to gain support, and trying to tell me story as well. I hope maybe you will consider looking at some of my posts and maybe helping me to grow. Thank you for your time and your posts on Crypto making it (kinda) easy to understand for a lay guy like me. God Bless!
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While the overall search trends are most likely correct given recent developments, one point to bear in mind is that Google does not dominate the search engine market in Russia.
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bitcoin is soaring for now, I'm sure bitcoin will last long for the future. Crypto money is now a lot of people love it, because crypto money is now very much different from the old crypto money. this is my opinion!
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We will remember this 2017 summer. The exposure of cryptocurrency.
Saludos!
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probably because everyone wants out of the sanctions, and would be hard to track it.
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At the end of the year, google trending will get steem as number one
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Russia May Ban Bitcoin Mining.
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Very good info... I go and look more :)
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It could also be because of the news that rumored that the Moscow Stock Exchange will soon trade Bitcoins.
This is really good news for the crypto world.
A big country gaining much interest in crypto.
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Great post @jrcornel what do you think about WCX russian low cost exchange and ICO??
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