Bitcoin Forum

Interesting article https://www.bloomberg.com/news/articles/2017-06-06/putin-eyes-bitcoin-rival-to-spur-economic-growth-beyond-oil-gas

Few Quotes:

Russian president met with founder of cryptocurrency Ethereum

Country may use Ethereum to create national virtual currency

So yeah.Please do listen to internet trolls that tell you ethereum is a scam. They definitely know better than everyone else, because they care so much about you, they don't want you to lose money. Or maybe because they want you NOT to make money, since less early adopters means more $ later for each early adopter.

Ha, I just read this on Bloomberg and was wondering why
I had not seen anything about it here on BCT,

has this gone unnoticed?

Good article and is surely good news for ETH and Blockchain in general

"Like other central banks, the Russian one is testing blockchain technology:
Last year, a consortium of large Russian banks it formed for the purpose
processed the first transactions through the Etherium platform.
With Putin's support, which means everything in today's Russia,
the central bank, run by Putin favorite Elvira Nabiullina, can more
aggressively move the country's financial sector to the blockchain."

It's not surprise me a bit, because Ethereum and Waves are creating by the Russian kids, the Russian going to use either Ethereum or Waves.
https://www.youtube.com/watch?v=kqhuWGjJ8_Q
Look like the Western kids haven't come up with anything to hype, yet.

Also know the Chinese hate the Japanese to the core! Such name Satoshi Nakamoto being the creator of Bitcoin is not going to stand well with them, most Chinese will try to get away from Bitcoin as possible, this is the reason the Chinese being pump craps like LiteCoin and Ethereum. The Chinese will never ever making big project using Bitcoin, this also extended for the Korean, we're seeing the Korean pump crap like Ethereum like no tomorrow. It is all in the Far East history book.

russian is won't miss the train on cryptocurrency,,
anyway your analyst about chinese is good,, but as i know,,
last years the biggest volume on bitcoin came from chinese,

Fake volume with no transparency and the reason coinmarketcap didn't count them. When it come to reality, they don't have volume.

The price is rising very fast.
I didnt expect that fast.
I am wondering about it sustainability since the rising is too fast.

This is very big news for Ethereum. Having a national currency that is backed by the Russian government will surely increase the transaction rate in the platform. But how much transactions per second are there in Ethereum? I am certain that it cannot handle the load.

What is Vitalik's time line in solving the scalability problem?

There are many scalability upgrades that will come. Most known ones are state channels / raiden, POS, which can increase the tps by ~10x without sharding, and sharding. But over the time i've read about many more upgrades that by themselves help with scalability. I am not technical, but as i've read metropolis will lay the ground for scalability.

Fun/interesting fact; ethereum can massively scale now, state channels can be programmed in solidity https://medium.com/@matthewdif/ethereum-payment-channel-in-50-lines-of-code-a94fad2704bc

Also, keep in mind that, even if they do release a national currency ERC-20 token as an experiment, even before real scaling gets into action, it still won't be a big problem. There can be safe on-off chain transactions.

That's how kik's kin app platform will work. They have 15mil active users each month (~300mil total) and that requires massive scaling.

Yes, It is still hard to say if it more WOW or just scary.

ETH may well be used by many governments as an easy and affordable way to ensure contracts are executed as per the terms. Of course there are probably many more governments that wont want to use it for exactly the same reason. It certainly has some great corporate backing and it's only a matter of time before government agencies come on board as well even if it might take a while

it is the technology they want not ethereum itself and this is not new.
the Russian banks have been working hard on it for a couple of years now.
the one that i remember was from late 2016 called "MasterChain"
link: https://www.cbr.ru/Eng/press/?PrtId=event&id=643&PrintVersion=Y

and it is the same thing as we hear in the news. they explicitly say "bitcoin technology", "ethereum technology" "ripple technology", etc and the fools each time think they actually want to adopt "bitcoin", "ethereum", "ripple", etc.
whereas all these banks want is a centralized blockchain that they control themselves without meddling of anyone from outside.

do you even know what will happen to their banking system and country's economy if they relied on any of these fully and they failed? lets say ethereum forked again? someone exploited it again? Russia will be crippled!

Correct. What the Russian government cares about is the blockchain technology, not ethereum itself.

Bull.. fucking.. shit.

All that was said is Butters was going to meet Putin.. that is it.
This is yet more lying deceitful shill tard news from the usual frauds.

The CIA requested to meet Gavin so does that mean the US govt is using Bitcoin now ?
Fuck buddy you are such a lying fucking fraud.
(that actually happened / Gavin admitted)

Where the hell did you get "Country may use Ethereum to create national virtual currency" from ?

ETH = ICO SCAM COIN .

Oh and by the way.. Putin is rather familiar with Bitcoin etc.
Read the Crypto + Russia stories posted at Coindesk during 2013.  ::)
Yeah.. that was many years before you got here shill tard.

AND and..

You already posted this but reposted it with a lie tacked on.. trying hard huh ?  :D

And and and..
I read this before i read your repost shit here..
https://www.neowin.net/news/ethereum-inventor-met-with-president-putin-at-spief-2017#comments

AND AND AND AND..


That is what we know.
So.......
How did you get this from it ?
Country may use Ethereum to create national virtual currency ?

Simple.. you lied.
AGAIN.

Like Microsoft and big banks and IBM etc etc..
Jesus apparently every govt and tech company on earth is using ETH eh ?
Well.. except, their not  ::)

Is there a crypto programmer in the forum? I would like someone who is well respected in the community to comment on this. I have heard a lot of disagreement about Ethereum's capability to scale. I do not know who is telling the truth anymore.

@mining1. If I ask you how much transactions per second can Ethereum do today, what would be the answer? Can it do 100 transactions per second?

Why the hell shall they use Ethereum? They could implement a national blockchain technology which could be much better than Vitalik's, can't they? I don't understand this kind of speculations in the market.

What is the purpose ? a currency ?
Well ETH is not a currency.

Why would they adopt it unless they wanted DAPPS ?
App's on a block-chain is going to do what now ?

If they wanted to do something crypto coin related wouldn't it make more sense to use a pure currency and not an ICO scheme coin system with vast amounts of bloated pointless un-needed insecure code ?

Wouldn't the smaller currency be a better option ?
Vs Butters Vitalibloat scheme system.

As much as i hate sputnik, in this case i need to applaud him.  "Butters met putin" this was an awesome statement.  And who tf uses eth tokens to move money around?  Its just expensive way to move useless and overvalued tokens around. Can someone name a DAPP with more than a MILLION USERS? Oh lol i ve heard eth is in beta for the next 10 years....will the story of maidsafe repeat itself with mETHerium?

Putin found a way to control at least an one altcoin .

Ehtereum is not a scam coins. Many people propagate this story of ethereum being a scam project are doing it because of hate and trying to brainwashing people not to buying coins that will change their lives on future. As for me I will keep promote ethereum.

Wrong.

There is plenty of tangible reasons for a variety of different people to complain.
But since the ICO coin Ethereum is the favorite for profiteers because it's pumped..
You all line up to cry "FUD".
You may not agree with the reasons given but don't say they were not provided.

Crypto is full of greedy brats who are willing to defend any coin project.. so they can profit from it.

I myself have posted a huge ton of things that should be a red-flag for you all.
And you should listen because i was here years before you got here crying FUD for bucks $$$

This reply is not intended to recap those reasons either.
Because you all DELIBERATELY ignore them.. so why bother ?
You are greedy corrupt losers who have no interest in hearing anything bad about your bags your clutching.
All you want is to hype up your coin to lure in more victims so you can dump on them for a handsome profit.
..crying FUD every step of the way.

If you are willing to listen to the criticism then it's right there for you in front of your nose.
If your not then you are a fool and will most certainly get burned.
Because it proof you are stupid and / or deceitful.

..good luck with that yappy lippy greedy noobs

PS:
Nice English buddy.
What part of India are you from kid ?

In my opinion, most Chinese investors will not care about whether the creator of the Bitcoin is a Japanese or not since the Bitcoin price in Chinese exchange platform are not lower than other platforms. Making profit is the most important thing.

I'm sure the high prevalence of Russian individuals in the crypto space is a factor behind Russia doing this but its also a general trend around the world. Governments and banks are increasingly interested in blockchain technology and ethereum offers a lot more in this regard than bitcoin does.

Fake news!

I will leave this here : https://twitter.com/BryceWeiner/status/868706247536656384


This guy has solid points.

Short:
money laundering trough ethereum ICOs by sanctioned russian banks and corporations. Thats the reason lil butters met with putin.

Ethereum is a covered intelligence operation. FSB and vitalik are old time friends. Follow the money

do you mean that Putin said anything about Ethereum?

you are the first one I see to make such statement

Quoting my unanswered question and bumping the thread.

To my signature campaign manager, please do not include this to my paid no. of posts.

Agree. They're after the technology, not any particular coin.

Wrong.

You made that up.. guessing wildly i might add.
There was literally no info provided by anyone involved.
All of you are lining up to simply make up wild claims.

WOW !

I don't suppose this has happened before ? cough cough.. "Big Banks" "IBM" "Microsoft"

PS:
I seen last night (on Neowin.net) News headlines that said Microsoft added support for OpenBSD on their Azure platform.. so according to the shill scammer fraud op's news criteria that means Microsoft "uses" OpenBSD now.

I'm just curious do you all ever get tired of being worthless scammy greedy deceitful little pieces of shit or what ?

Just gonna leave this here..

https://www.neowin.net/news/russia-moves-closer-to-banning-the-use-of-proxies-and-vpns

So..
They gonna "use" Ethereum huh ?  :D

Idiots LOL

Some guys from Russian government want to control cryptocurrency trading. There were ideas about mandatory binding of the bitcoin wallet to the ID.

Its not called ethereum you ve spelled it wrong.

Its called ETHERIUM

You spelled "you ve" wrong  ;D