Russia is out to take control over the Bitcoin network!

Hi Steemit world,

The world continues to move towards full adoption and acceptance of Bitcoin. While one still should take into account regulation problems in the future there is an interesting trend going on here. There is a news story out claiming that Russia or someone affiliated with the Russian government is about to invest 100 million in a Bitcoin mining farm. This is quite an interesting development when you realize that the miners are key to the whole system. Is the true battle for control starting?

While Bitcoin in its essence is decentralized, that only remains true if the miners stay decentralized. In the end, whatever group that holds most of the mining power can 'control' the future of Bitcoin. If one group or cartel of miners hold all the mining power, they hold the key to the whole system, can control it, let it crash or whatever they want to.

I can imagine different scenarios here, but I suppose that if one considers the potential for Bitcoin to become the 'de facto' reserve currency of the world the stakes are high enough for governments control the system. China seems to be quite active in the space already.

Remember there is this little fact that few people really know or care to remember. The U.S 'Federal Reserve' AKA 'The FED' is not a government entity. It is a private entity owned by bankers. It is largely unknown who the real shareholders are but apparently, they get a yearly 'dividend' paid out of 6%. We are talking about the current 'de facto' most powerful central bank (remember private institution) of the world who owns the right to print USD. The US Dollar is still the reserve currency of the world now, but for how long?

Whatever happens in the future, it is clear that something enormous is brewing just beneath the surface. There is a fierce battle going on for control of the future financial market and mechanisms and I'm afraid that the ultimate battle for dominance will not be fought out with words or the free market...

You can find the full story about Russia's mining operations and a reference article for the FED here below.

http://www.zerohedge.com/news/2017-08-08/russia-launches-100-million-bitcoin-mining-operation
https://www.counterpunch.org/2015/12/18/who-owns-the-federal-reserve-bank-and-why-is-it-shrouded-in-myths-and-mysteries/

I hope you find some value in my post, if you like it, vote it up and have a magnificent day!

@silvergold at your service :-)