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Russian economy minister says Bitcoin worse than casino gambling

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Russia says Bitcoin investing worse than casino gambling
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Top Russian minister has justified the government’s plans to prohibit ordinary Russians from investing in Bitcoin technology by comparing Bitcoin-related investments with casino gambling.

 

On Tuesday, Russian Economic Development Minister Maksim Oreshkin gave a speech at the World Festival of Youth and Students in Sochi, where he warned the young pioneers of the dangers of dabbling in cryptocurrencies.

Russian state-owned media outlet RT quoted Oreshkin saying: 

“As for bitcoin, if you look at how the value of this asset fluctuates, it’s dozens of percent up, then dozens of a percent down. An asset that can be available for an unqualified investor should not have such characteristics because it’s worse than casinos. First, you earn, then you will lose everything and be left with nothing.  Those who do not know how to manage risks in instruments with such volatility, should not be able to invest because in 99.9 percent of cases it results in losses for such people and then they will find themselves in a difficult life situation, which is not good.”

Oreshkin isn’t wrong that Bitcoin investors face potentially damaging losses, but such risks are inherent in all investing scenarios. Kinda like the Russian casino operators whom the government encouraged to invest in the Azov-City gaming zone, only to be told a few years later that the zone would be shutting down so that new zones could open in Sochi and the Crimea, and there would be no compensation for Azov-City investors, who now stand to lose everything and be left with nothing. You know, like that.

In August, Russia announced plans to restrict Bitcoin-related investing to “qualified investors,” which the Ministry of Finance defines as having at least RUB 6m (US $105k) in an investment account, making at least 40 transactions per year with a total turnover of RUB 6m, or having two years’ experience at a financial security trading firm.

Russia’s investment restrictions were already greeted with a degree of cynicism, which only grew following news that the government plans to introduce its own blockchain-based cryptocurrency, the CryptoRuble, which will naturally be subject to strict government monitoring and taxation, just the sort of stuff that really excites the average libertarian-minded cryptocurrency fan.

The CryptoRuble plan mirrors Russia’s increasingly tight stranglehold on its citizens’ internet access. In fact, Russia’s internet is rapidly becoming a de facto intranet on par with the walled gardens on offer in neighboring China and North Korea, where seldom is heard a discouraging word about the local leadership.

Clearly, Russian President Vladimir Putin has issues with anything that isn’t under his complete control. Which got us thinking, if the CryptoRuble doesn’t pan out, maybe Putin can find common cause with the folks over at SegWit Core, who also have trouble with competing – and especially superior – ideologies.

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Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights

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Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.

PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.

Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”

Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”

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Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years

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As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.

This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.

The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.

Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.

The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.

Event Details:

  • What: Premiere of “Memories of CS:GO – The Early Years”
  • When: March 26th, 2024, at 21:00 CEST
  • Where to watch: Red Bull Gaming’s Youtube Channel
  • The “CS:GO Memories” documentary can be viewed shareit.redbull.com

 

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Ten Square Games ready for a new development opportunities in 2024

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2023 ESPI package

The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)

2023 Consolidated Financial Statement

2023  Management Board Report on Activities

Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements

Link to the stream

Link to the chat with individual investors

Presentation

Factsheet

Financial data

Transcription of the conference and Q&A session

For complete press release visit tensquaregames.com

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