Russian opposition leader Alexei Navalny raised 595 BTC in donations!

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Alexei Navalny, a Russian politician who is the main opponent of Vladimir Putin, has raised more than 595 BTC in donations! This amount of Bitcoin has been gathered over the last three years. 

The Navalny Wallet

You can see the wallet address to raise donations listed on the donations page in the Navalny 2018 presidential campaign website.

The very first donation was in 2016, and since then there have been over 2100 transactions overall. This wallet has been actively withdrawing all the funds received. At one point, someone very generous had donated 20 BTC, but at the moment, this wallet is empty.

Russian television raises awareness

This week, a Russian television network Tsargrad TV highlighted these donations. Since Navalny’s political movement often binds with uncovering corruption documents on several Russian officials, the TV network questioned the legitimacy of these donations. Navalny is known for exposing corruption within Russian officials which include the Russian prime minister Dimitri Medvedev and Yuri Chaika. He even has an investigative center called the Anti-Corruption Foundation (FBK).

Not long after that, an anonymous Telegram channel “FBK Staffer’s Confession” pointed out that the wallet received several large donations a few days before the FBK published yet another investigation. The Russian media claims that it could be a paid piece. The FBK’s chief of staff denies any connection between the transactions and their investigations.


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Russia Adopted a Law on Internet Isolation

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On April 16, the Russian State Duma, in the third and final reading, adopted a law on Internet isolation. Initially, State Duma submitted the bill in December 2018. It was adopted at first reading on February 12, but the second reading was held last week. The law will become active in November 2019. except for The rules on cryptographic protection of information and the national domain name system will be an exception. These laws will become active on January 1, 2021.

A Technical Opportunity

The authors of the bill propose to create a technical opportunity for the Russian network segment to work autonomously from the rest of the Internet. The Federal Supervisory Authority (FSA) will coordinate the work of the system. The Russian government will approve the procedures for installing and operating protective equipment in the network of the communications operator.

However, critics of the bill believe that the law is based on the money that will be allocated to the budget for the development of Russian Internet autonomy programs. These features will later “kick off”, increasing the cost of Internet access for all users. In fact, the citizens themselves will have to pay for the prison, in which the state deliberately puts them.

Russia Attacked by Telephone Terrorists

Additionally, it is important to remember that in the past two years, unknown telephone terrorists were attacking Russia. Evacuation of shopping malls and universities were a regular thing. Needless to say that this costs a lot of money to track down these “attackers”. However, in the last two years, the Russian Spec Ops haven’t yet found a way on how to deal with this.

Moreover, it is unlikely that the absence of this law has hampered the effectiveness on fight terrorists. And we don’t know whether the law will help this issue as well. However, from the practicality point of view, the law looks very vague as regards of specific tasks. The only thing that is for sure – the law will cause problems for everyone else, except the terrorists, and will make everyone involved fabulously rich.


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Russia`s crypto FUD influence on markets

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Many news outlets have recently posted some controversial headlines about Russia converting their USD reserves to Bitcoin. The initiative behind such an act would be Russia’s willingness to bypass U.S. imposed sanctions using cryptocurrencies. Statement by V. Ginko – a well renowned Russian professor:

Whether or not this is going to happen, it is fundamentally important to understand how this can affect the crypto markets before you do any investment activity.

Difference between exchange and OTC crypto markets

Before we proceed with further analysis it is important to understand the difference between retail and OTC (over-the-counter) markets. The common thing between both markets is that they both allow to buy and sell assets, securities, cryptos etc. The difference is in the way how traders execute their orders. In OTC markets people do their trades in person choosing one explicit party. Exchange markets, on the opposite, use centralized framework and trading system executes order automatically choosing the best possible match for your order.

Why Russia will not buy their bitcoins using an exchange?

Although OTC market seems like a much of a fuss it is better for moving large amounts of money. At the current market stage, crypto has lost most of its mainstream attention and order books are thinner than ever. According to the current data (02.02.2019) of Bitstamp exchange, even 100 million of Russia`s money would inflate Bitcoin price by 25k USD. That makes every next Bitcoin Russia buys more expensive, therefore, they have a large slippage. 10 billion is too many funds even for buying bitcoin gradually due to the low market depth. OTC exchanges almost completely exclude gradual price increase for each bitcoin bought because it is not a centralized system and does not update bitcoin price live. 

Market depth on Bitstamp exchange, Source:

Summary: How should I react to this event?

The most likely scenario is that if Russia is going to buy bitcoin – they will buy it in such a manner that does not inflate bitcoin price. Smartest decision would be to not play this event. It is bold to say that this is not going to influence markets use, however, an immediate bullrun, caused by a Russian investment, is highly unlikely. It is crucial to understand that Russian government has not confirmed this, thus, information is possibly published just to cause market FUD. Be smart and evaluate everything you read with rationale. Make sure to read bestcoininvestments news for unbiased analysis and news to dominate the markets!


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Russia thinking about replacing USD with Bitcoin

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Referring to recent news by Micky, it seems like Russia is seriously considering investing in Bitcoin. This could happen as early as next month, told Vladislav Ginko, a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration. 

Bypass U.S. Sanctions

One of the main reasons why Russia considers such a move, would be because of new sanctions by the U.S., or EU. Vladislav Ginko believes that these next sanctions could possibly trigger Russia moving their cash reserves into Bitcoin.

“Central bank of Russia sits on $466 billion of reserves and has to diversify in case there is limited opportunities to do it,” says Vladislav continuing “because of US sanctions Russia’s elite is forced to dump US assets and US dollars and invest hugely into Bitcoins.”

Russia expects new sanctions by the U.S. Government in February this year.

A possible huge price reaction for Bitcoin

If Russia is seriously considering to diversify their Dollar reserves, this could potentially mean a huge price increase for Bitcoin. Ginko is talking about several billion dollars. And that is massive for Bitcoin, as its current daily volume, according to, is about $5 billion. Ginko believes that soon a lot of other countries will do the same, and that “Russia has a brilliant chance to invest into heavily oversold Bitcoin.”

Russian president Vladimir Putin stated on November 2018, that Russia is seeking for alternative reserve currencies. Also, Russia is working closely with China, to develop a new transaction system which would be independent of the U.S. Dollar.

Russia neither positive nor negative about cryptocurrencies

Vladimir Putin along with Russia has never quite condemned cryptocurrencies. The Russian president is one of the few world leaders who hasn’t publicly condemned Bitcoin or crypto in general. Of course, he has stated that investors must be careful operating with these currencies as there are “serious risks” surrounding crypto. Moreover, there were claims of Russia having its own cryptocurrency last year. Putin backed these claims saying “Central Bank of the Russian Federation considers cryptocurrency neither a means of payment, nor a store of value”. Also, he mentioned that this would not be possible by definition. 


Blockchain Life – The biggest crypto-forum in Eastern Europe

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Starting from November 7, Saint-Petersburg welcomes all crypto enthusiasts to their annual two-day crypto-forum. Judging by their success last year, when a month before the conference all the tickets were sold out, and it gathered more than 1700 people. Many expect that this event will be among one of the top in the world this year. More than 5000 attendees, 80 speakers from more than 70 countries from the leading cryptocurrency companies in the industry.

By their words, what sets them aside from the classic conferences, is “the complete absence of promotional reports. All presentations are of a practical nature and are aimed at telling the participant how to make money on cryptocurrencies and blockchain technology,” says in their website.


This year Blockchain Life forum has gathered some pretty big names from the crypto industry. One of the top names is the controversial supporter of Bitcoin Cash – Roger Ver. Roger is going to do a presentation over Skype on the future of cryptocurrencies called “How will cryptocurrency change the world?”. Roger always attracts much attention, because he is known to express very aggressive and questionable ideas and facts.

Tone Vays, trader and analyst on cryptocurrencies, also is going to cover a Skype presentation on the inevitable bubble of ICOs. Tone is known to attend the top cryptocurrency events in the world, sharing his ideas and beliefs about crypto, openly speaking about his open positions and his views on the crypto industry as a whole.

In general, the forum will gather a lot of industry professionals and company founders. The most famous being Martin Kuvandzhiev, the Co-Founder of Bitcoin Gold, Klim Geran, the head of NEM in Russia, Edward Chen, the Senior Director of Huobi Exchange, Vyacheslav Bredikhin from Bitmain, and Arthur Aziz, the Founder of B2BX.

Also, three secret speakers are assigned.

The main topics

Blockchain Life 2018 mostly will focus on the topics about creating, managing and the life cycle of ICOs in 2018. There will be multiple discussion panels and individual presentations on the secrets of building a successful ICO in 2018. The speakers will analyze the ICO market, share the top aspects of a perfect pitch and explain how to maintain the project after the ICO stage is over.

Also, a big emphasis is on the future of crypto exchanges. Specifically, Maximilian Marenbach will talk about Kraken, and Edward Chen will speak about Huobi exchange. The forum will gather many representatives from Russia’s leading tech, government, and innovation companies. The leader of the government working group on cryptocurrencies, Elina Sidorenko, during a discussion panel, will talk about cryptocurrency regulations in Russia.

Also, many presentations will be about crypto mining and trading. How to make money during this bear market, and how to look at it positively. 

Blockchain Life Awards 2018

That is the characteristic which sets this event aside. There will be an awards ceremony with multiple nominations. Users who visited the event’s webpage could vote for their favorite Russian media, exchange blockchain project, ICO advisors, ICO agencies and the best advertising networks for crypto projects. The winners will be announced during the event. Interestingly enough, the nomination – “The most promising ICO in 2018” was shut down because of a cyber attack. The voting has finished at the moment.

Go and get your tickets while you can!

The conference is tomorrow, and the tickets are still live.

Overall, judging by the promotional materials, in which they position this event as one of the biggest in the world, the conference is expected to meet the world standards of a successful business event. However, since the majority of speakers are Russian, we hope that there will be no inconvenience with the translation materials.

Looks like a great event where to meet potential business partners and advisors in the crypto industry, and while doing that you can learn something new about the technology and where it is heading. Gathering more than 5000 participants is exceptional. Speakers from more than 70 different countries where you have never been, or even didn’t know that such existed, will give you insights and their positions on crypto. This is a must-attend event if you are operating with ICOs and crypto in general.

Best Coin Investments also is attending this event. We will provide you with a review of what exactly happened, who said what and how did it look. Stay tuned for more information!

Photo by Blockchain Life 2018. 

Russia to educate lawyers on cryptocurrency

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One of the oldest universities in Russia, the Plekhanov University, is now offering a one-month blockchain and cryptocurrency course called “Legal basis and practice of working with cryptocurrency and blockchain projects”. The course will focus on the legislative aspects of crypto and blockchain. 

The Russian government, an IT services provider – IT Technologia, and a law firm Efficient Business Resources organizes this project.

What will the course cover?

“Politika Segodnya” – a local newspaper quoted Alexander Zhuravlev, the managing partner of Efficient Business Resources, saying that the course will consist of lectures about Cryptocurrencies in general, ICOs, Exchanges, smart contracts, mining, KYC, AML and the implementation of DLT (Distributed Ledger Technology).

Who will address these lectures?

It is said that Russian experts in the fields of business, law, and cryptocurrencies are going to run this course. For example, one of the lecturers is going to be Gerbert Shopnik, the CEO of Bitfury in Russia. Another interesting lecturer is going to be Alexander Mikhailov, the director of Russia’s own blockchain powered organic food cooperative and restaurant chain, which has its own token. These two guys alone have all the necessary information one would need about cryptocurrencies.

Blockchain universities are expanding.

It is evident that so far, such a new technology like blockchain and cryptocurrencies, you couldn’t learn it any schools of universities, you had to do it by yourself. Now, when the technology and ecosystem as a whole is spreading, universities feel the pressure to go along with this phenomenon. Until now – people learned about cryptocurrencies in seminars and summits, or youtube and the internet, but now it is being offered in universities.

Russia is not something unique in the way of offering studies about crypto in general. There has been a study that shows that half of the worlds top 50 universities already teach about blockchain. However, taking this study globally – almost 70% of all universities in the world, has at least one blockchain course.

Russia says they will educate lawyers exclusively, but many universities in the world already have been teaching their students, who might turn lawyers some day. Which approach is best?


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A non-profit organization in Russia is piloting a voting system based on blockchain!

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National Public Monitoring (NOM) is a non-profit Association of Independent Public Observers, and they recently announced that they are launching a blockchain-based electronic voting system. 

“As part of our congress, we are launching a pilot electronic voting system built on a blockchain system”, said the NOM federal coordinator Roman Kolomystev.

They have partnered with the Corps for Clean Elections, the People Observer and the Public Association Group 32.

These are great news, since Russia is rumored of having illegitimate elections before. In the previous president election Vladimir Putin won with 76.7%, and according to the press, there were widespread reports of ballot-box stuffing and forced voting. Some of the candidates like Alexei Navalny wasn’t even on the ballot. These all are just rumors, but the fact the the ballot-type of voting has to be left in the past, is for sure. Blockchain is the answer for fair government elections.

What are your thoughts? Will a blockchain-based voting system work and extrude ballot-box voting once and for all?


Viber messenger will launch their own cryptocurrency next year

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Viber is a mobile service, allowing you to make calls as well as send texts, photo, and video messages to other Viber users free of charge. The application is operated by a multinational company called Rakuten and it has plans to implement their parent company’s cryptocurrency Rakuten coin. The Japanese conglomerate is looking into studying the recent legal developments regards cryptocurrencies in Russia. Viber expects to launch this in 2019. 

Viber CEO Djamel Agaoua commented on the news:

“The messenger app will act as a key player in Rakuten’s goal of establishing its own cryptocurrency” further explaining that “Our mother company is creating Rakuten Coin: cryptocurrency, which is supported by the entire Rakuten ecosystem. This Rakuten Coin will be tradeable in Viber. The cryptocurrency will appear in the Viber wallet and it can be exchanged for rubles, dollars, and euros. Company’s specialists are currently studying Russian laws in the cryptocurrency sphere. Very soon you’ll be able to send some Rakuten Coins and to trade Rakuten Coins against rubles, dollars, and euros.”

Viber has a monthly active audience of about 45 million users in Russia. Despite their popularity in Russia, Viber is far from noteworthy in the west. It has 15 percent penetration in the United States and 22 percent in Western Europe. In Central and Eastern Europe, however, the figure grows to 73 percent penetration, and 76 percent in Russia.

Good luck to Viber as they are implementing cryptocurrencies on an already active and working service.


Swiss city to test blockchain polling pilot

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Zug, a city next to Zurich, has decided to test a voting pilot where the polling system and residents’ Ids are based on blockchain. Interestingly, Zug had digitalized their residents’ IDs through an Ethereum based application “uPort”, already in July last year. With the help of this initiative, local residents will be able to vote in the one-off blockchain polling pilot. 

Zug has clarified that the results of this test poll is considered a “consultative test” and that they will not be binding. 

The government added that the primary goal for this poll test is to review the security aspects of the polling system. They want to check wether the project can achieve “immutability, testability and traceability” while voters’ privacy remains maintained. 

Since the day I found out about bitcoin and blockchain, people everywhere, and I myself, have been dreaming about a voting system for government elections based on blockchain. This seems to make so much sense, and Swiss government again proves its modern view and willingness to get involved in the technology of blockchain. Because when thinking about blockchain and governments, it seems the perfect way to govern a country. It has the potential of removing election fraud and providing immutable records. Zug has already digitalized about 200 of their residents Ids.

We have seen some tests of such a polling system in the past. For example, Santander used this tech for shareholder voting at its annual AGM in May, which is considered to be the words first use-case of this technology. 

Switzerland is not the only country which has started to work on such a project. Russia, for example, extended its use of a blockchain based voting platform to the city block level. It is a digital home service, which allows neighbors in populated areas to electronically vote and communicate on building maintenance issues. As well as Russia, the U.S. State of West Virginia launched a voting project for absentee voters in the military. It was done through a mobile app, powered by blockchain technology.

It is great to see countries testing these platforms, because it is crucial for the residents of the world to change the voting system which has rotten already in so many ways. Especially in the once occupied countries of USSR. The level of trust towards the government in these countries are around 30-40% and going down, but with the help of a blockchain it can be restored. 

Let’s all hope to live the day to see a blockchain poll system in our countries. 

Do you think a blockchain governed country will eventually end the world of corrupt governments?


Putin: “Russia will not have its own cryptocurrency”

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On June 7th, the 16thannual “Direct line” session with president Vladimir Putin covered a few cryptocurrency questions. Russian blogger Artem Khokholikov asked the president three questions. Putin replied to these questions rather negatively. When asked if, cryptocurrencies could ever replace real-world fiat, he noted that although practice shows that Japan has adopted crypto as a payment, “it doesn’t work in other countries”. “Central Bank of the Russian Federation considers cryptocurrency neither a means of payment, nor a store of value,” says Putin.

Russia’s state cryptocurrency

Moreover, when asked if Russia could have its own cryptocurrency, Putin said that by definition it is not possible. Onwards he mentioned crypto mining as something that Russia does not regulate, but “treats it very carefully”.

In the end, he added that Russia must keep an eye on the world developing technical phenomenon. They have to look into how cryptocurrency could be used in the means of avoiding restrictions regarding the international financial activity. Some say it’s a reference to the potential use of cryptocurrencies to avoid sanctions from other countries. 

As these might be news for some, In my humble opinion this could be Russia’s praxis so far.