Perception of Financial Functions of the State by Miners of Cryptocurrencies

For the last two years Bitcoin and other kinds of cryptocurrency became extremely popular. In the end of 2018 1% of Moscow citizens who use electro payments use cryptocurrency. However, there is still no law about this kind of payments. Legalization of cryptocurrency is a difficult process because of its technological characteristics such as anonymity, volatility and decentralization. These features can have negative effect for State’s authority in case it has an impact on financial functions of State. In this study our intent is to explain how miners as followers of radical technology can stay on their positions in government during uncertainty and instability . We will focus on Russian Federation situation. The qualitative research method will be taken for understanding miner’s motivations, meanings which they include into State’s financial functions, their attitudes and forecasts for digital currency in 5-10 years. The interviews with 16 miners will be explored to answer for these questions.