I’m not going to make a habit out of linking news.bitcoin.com but since The Daily Beast also ran a similar story at the beginning of the month I’m willing to lend them the benefit of the doubt on this one.
When DISH Network started accepting Bitcoins as payment three years ago it was heralded as the first corporate domino by crypto-currency enthusiasts and denoted as a quirky PR stunt by marketing professionals. In either case, a stagnant pay-TV company has more than a few differences with the regional geopolitical powerhouse that is Russia. I say this only to make note of the rise in crypto-currency gravitas.
There’s a side of me that says that Russia must be taking these actions with a sinister purpose. Surely ownership of a platform for these ideally anonymous transactions ensures that the government has an added level of control over the technologically savvy. Then again, the capitalist in me says that it’s more likely the intent is for the Moscow Stock Exchange to be equipped to handle these transactions in order to encourage more trading as Bitcoin usage increases. Both could be true at different times. In either case, given the apparent ease in creating crypto currencies, I’m sure we’ll start seeing more interest in these payment types and perhaps even state-sponsored Bitcoin variants in nations that tend to lean autocratic. If it’s the case of the latter, I’m not sure independent currencies will be able to compete.
Also, my apologies for the clichéd title of the post. It’s topical and I’m terribly unoriginal.