I was thinking that Russia is more interested in Blockchain technology than in crypto-currencies.
Currently Russia is working on legalization of the status of Bitcoin and other crypto-currencies. Russia is in the process of legitimizing crypto-currency, developing legal framework that will regulate transactions using crypto-currency. I just hope they will not follow the Chinese experience about crypto-currency regulation and will not close exchangers and ICO projects.
Topic: [2017-09-21] Russian Governor Invites Cryptocurr. Miners to Set Up Mining Farms (Read 7147 times)
September 26, 2017, 05:27:54 AM
September 25, 2017, 10:13:26 PM
This and more is just one of the many indicators that Russia is really interested to cash-in with the cryptocurrency craze most especially since China decided to turn-off the light for it. As there is a pressure building up for miners in China right now, I am sure that some might be thinking of relocating elsewhere or there would be new players to be coming to the market and this offer from Russia is definitely a very attractive one.
One thing for sure, it is quite different if it is the government (or part of the whole government infrastructure) is the one opening up the door for players rather than the other way around which what happened in China. At least here, there can be some guarantee that the government might not be doing what China did.
Will Russia soon be the big hub for cryptocurrency in that part of the world? We will see as month roll by...but I hope it will be as we need a good replacement for China.
Yes it is another story because the government is the one inviting the people whereas in China, the people started it and afterwards when it has become a threat to them, the government was alarmed about it and decided to so something about it. Whether it's true or not that they would let the exchanges operate again in October then we need additional miners then to supplement those that are lost and maybe Russia would be the solution to that.
September 25, 2017, 09:53:22 PM
They should just regulate about bitcoin and exchanges to prevent any problem in the future just like in China. If they want to adopt bitcoin, legalize it as legal payment is a good thing to encourage more people, business and companies to use bitcoin. But at least miners have invited to set up the mining farms and the best thing is they have cheap electricity from NPP.
This and more is just one of the many indicators that Russia is really interested to cash-in with the cryptocurrency craze most especially since China decided to turn-off the light for it. As there is a pressure building up for miners in China right now, I am sure that some might be thinking of relocating elsewhere or there would be new players to be coming to the market and this offer from Russia is definitely a very attractive one.
One thing for sure, it is quite different if it is the government (or part of the whole government infrastructure) is the one opening up the door for players rather than the other way around which what happened in China. At least here, there can be some guarantee that the government might not be doing what China did.
Will Russia soon be the big hub for cryptocurrency in that part of the world? We will see as month roll by...but I hope it will be as we need a good replacement for China.
September 25, 2017, 08:27:59 PM
I doubt that many miners will answer this invite, as Bitcoins legal status in Russia is still not decided and so far very mixed signals were coming from Russia, so it can be a pretty big risk to setup new mines there, as they maybe closed very quickly. On the other hand opening new mines in China also may be risky, so Russia might be a viable alternative.
Russian governor can invite whoever he wants,doesn't mean that cryptocurrencies in Russia are legal or any closer to be legalised!
there were many statements issued by Shuvalov et all,sources close to the goverment or the govermental officials
but it is nothing more than speculations,Russia has many other things to take care of,cryptocurrencies legalisation will mean
capital flight and this is the main problem since the sanctions have been introduced
so legalising cryptocurrencies is a double edged sword for Russia
September 24, 2017, 06:11:50 AM
I doubt that many miners will answer this invite, as Bitcoins legal status in Russia is still not decided and so far very mixed signals were coming from Russia, so it can be a pretty big risk to setup new mines there, as they maybe closed very quickly. On the other hand opening new mines in China also may be risky, so Russia might be a viable alternative.
September 24, 2017, 05:06:39 AM
Any indication of electricity pricing or farm setup price? Could not find pricing any where in Google.
https://www.energy.eu/#domestic
http://ec.europa.eu/eurostat/statistics-explained/index.php/Electricity_price_statistics
https://estore.enerdata.net/energy-market/russia-energy-report-and-data.html
https://www.iea.org/statistics/
http://energyusecalculator.com/global_electricity_prices.htm
https://www.energy.eu/historical-prices/EU-Latest/
FYI, all of these statistics are not accurate pricing. Example, it says China is USD$0.05 to USD$0.19, for real miners, they actually get
My question is to ask about the real electricity pricing for mining, not for house or commercial. Russia might provide cheaper electricity for mining business. That is what I am interested to know.
September 21, 2017, 06:05:35 PM
Any indication of electricity pricing or farm setup price? Could not find pricing any where in Google.
https://www.energy.eu/#domestic
http://ec.europa.eu/eurostat/statistics-explained/index.php/Electricity_price_statistics
https://estore.enerdata.net/energy-market/russia-energy-report-and-data.html
https://www.iea.org/statistics/
http://energyusecalculator.com/global_electricity_prices.htm
https://www.energy.eu/historical-prices/EU-Latest/
September 21, 2017, 05:45:05 PM
They should just regulate about bitcoin and exchanges to prevent any problem in the future just like in China.
If they want to adopt bitcoin, legalize it as legal payment is a good thing to encourage more people, business and companies to use bitcoin.
But at least miners have invited to set up the mining farms and the best thing is they have cheap electricity from NPP.
If they want to adopt bitcoin, legalize it as legal payment is a good thing to encourage more people, business and companies to use bitcoin.
But at least miners have invited to set up the mining farms and the best thing is they have cheap electricity from NPP.
September 21, 2017, 02:55:07 PM
Any indication of electricity pricing or farm setup price? Could not find pricing any where in Google.
September 21, 2017, 04:25:19 AM
The Russian Leningrad region wants to create an industrial park for cryptocurrency mining including bitcoin. The region’s governor is inviting miners to the Sosnovy Bor area near St. Petersburg to create industrial-scale mining farms at the old Leningrad nuclear power plant.
Miners Invited to Relocate to Leningrad Region
The governor of the Russian Leningrad region, Alexander Drozdenko, is inviting cryptocurrency miners to set up mining farms in the region, according to local publications. At the third annual forum for the region’s small and medium-sized businesses (SMEs) called “Energy of Opportunities” which took place last week, he proposed that the first Leningrad Nuclear Power Plant (LNPP) could be used to set up cryptocurrency mining farms. The event was attended by 600 entrepreneurs and federal agency representatives.
The Leningrad region is bordered by Finland in the northwest and Estonia and St. Petersburg in the west. The region’s first LNPP, which was commissioned in 1974, is located in the town of Sosnovy Bor. Currently, the second nuclear power plant (LNPP-2) is being developed next to it.
“As you know, the construction of LNPP-2 is being completed in Sosnovy Bor, and large areas of the first nuclear power plant are being liberated,” Drozdenko explained, adding that this site may be of interest to cryptocurrency miners. 47News noted;
"Production sites that are being released during the construction of new power units of the Leningrad nuclear power plant will be available for new residents as early as 2018."
Read more: https://news.bitcoin.com/russian-governor-cryptocurrency-miners-mining-farms-leningrad/
Miners Invited to Relocate to Leningrad Region
The governor of the Russian Leningrad region, Alexander Drozdenko, is inviting cryptocurrency miners to set up mining farms in the region, according to local publications. At the third annual forum for the region’s small and medium-sized businesses (SMEs) called “Energy of Opportunities” which took place last week, he proposed that the first Leningrad Nuclear Power Plant (LNPP) could be used to set up cryptocurrency mining farms. The event was attended by 600 entrepreneurs and federal agency representatives.
The Leningrad region is bordered by Finland in the northwest and Estonia and St. Petersburg in the west. The region’s first LNPP, which was commissioned in 1974, is located in the town of Sosnovy Bor. Currently, the second nuclear power plant (LNPP-2) is being developed next to it.
“As you know, the construction of LNPP-2 is being completed in Sosnovy Bor, and large areas of the first nuclear power plant are being liberated,” Drozdenko explained, adding that this site may be of interest to cryptocurrency miners. 47News noted;
"Production sites that are being released during the construction of new power units of the Leningrad nuclear power plant will be available for new residents as early as 2018."
Read more: https://news.bitcoin.com/russian-governor-cryptocurrency-miners-mining-farms-leningrad/
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