If we look at the history of cryptocurrencies until now, it is safe to say that 2017 was the year of the cryptocurrency. The digital coins rose from something only computer literates knew about to one of the most heavily invested items. They still haven’t reached the stability this year that they had in 2017.
The world can not ignore the cryptocurrencies any longer and is trying to figure out what to do with them. Their role in the future is still not defined but there is still a large faction of people including some governments that are looking to adopt the cryptocurrencies and integrate them into their daily lives.
However, there is also a lot of fear and uncertainty surrounding these coins. While some governments have an accepting nature towards the cryptocurrencies, other governments do not. They want to regulate and even ban them as they are a potential threat to investors and banking institutions.
One of those governments is the Russian government. The Eastern power is looking to introduce a legislation to ban the use of cryptocurrency. This announcement was a cause for worry for the bitcoin miners and the people who had a fair share of capital invested in the cryptocurrency. The increasing scrutiny has made it almost impossible for bitcoin miners to operate unless they are being operated officially by the state.
Cryptocurrency mining is not a task every computer is capable of. The computing power required exceeds that of the computers found in our homes by many folds. The ban on cryptocurrencies did not stop bitcoin miners and they only got more creative.
Russian officials found a group of bitcoin miners using the Scientific Research Institute of Experimental Physics, the facility where the first Soviet nuclear weapon was produced, to mine cryptocurrencies. The facility has some of the most powerful super-computers in the world and makes it perfect for miners trying to stay ahead in the mining business.
The details are still not made public and it is not known how many people were involved but it shows the lengths that people are willing to go in order to stay ahead in the cryptocurrency game.