Topic: Bitcoin & increasing government pressure & power outages (Read 288 times)

Government all over the world are not decentralized crypto friendly. Like in my country it's illegal to use crypto and mine it. Iran is oil rich country, I don't know whether ban on mining is because of electricity or its other way round.

Actually it is not surprising that several government countries are trying to make various restrictions related to Bitcoin. Because since Bitcoin
became popular, many countries feel threatened by the presence of Bitcoin, so it's no wonder some countries have reacted negatively to Bitcoin.
I think the Bitcoin journey earns everyone's trust is not easy, but I am optimistic that in the future, in the end Bitcoin can get recognition from
all countries in the world. Therefore for now for the Bitcoin community whose countries are still negative, better be a little patient and just try
to collect Bitcoin. Let everything run naturally.

Some governments are really unbelievable. They just don't want to deal with cryptocurrencies and make regulations about their usage etc. . They just choose to simply ban them and overlook people's reaction.

It is really a good opportunity if their people are earning on it honestly.

Trading, mining, getting paid with bitcoin for services and other legal stuffs. They should consider it as if they're also earning just like people who are working remotely.

They're receiving payments online and eventually will have to cash it out which shall help the household of those people who have earned bitcoin through those legal methods. They should focus on the illegal activities than the legal aspect and honest earning of their people through bitcoin.

What the hell is this man, really? Some governments are really weird when it comes to making a decision about cryptocurrencies. China has started this and some other countries help this continue. However, there is no need for banning. Cryptocurrencies won't damage their main currencies. They should just regulate them rather than cracking down on.

Iran is very short of electricity this season, so the reason for the policy to suppress Bitcoin is because the northern hemisphere has entered the summer, and the country has a drought and hydropower projects do not have enough water to supply power to the national grid.

In my opinion, Iran's ban on mining is justified. In Iran, their electricity cannot satisfy people's lives, there is no more electricity to support mining, and summer is coming and there is very little precipitation, so hydropower is not realistic, so it is understandable.

there are issues with this

1. to power a 3.25kw s19pro. requires you to have a 10kw solar array to have enough to power it and enough to have excess energy charging a battery once the sun dusks.

2. your solar costs are not paid piecemeal month by month. you buy the equipment upfront. with the hope to get ROI at some point

3. the upfront cost of solar only works out as break even compared to a dilution of spread out cost. if you calculate 10years plus of accumulated electric use

4. with hashrate /difficulty adjustments of 4% a fortnight. after 6months thats like getting half as much coin income as the start of the year. meaning to stay at same coin income level you then have to double up the hardware every 6 months. meaning its not using the same solar array on a 10 year ROI. .. but having to double your solar array meaning its costing you 10 years worth of equivalent electric cost upfront every 6 months

5. your only hope really is that asic production gets 50% more efficient so that you just upgrade 2 for 1 asic and not need to adjust the solar array expansion.
.. but thats not the case of whats happened over the last 2 years

In this situation, miners simply should not rely on governments, but install their own power plants on solar panels with a minimum capacity of 3-5 kilowatts, or more, if necessary for the farm. Why ask governments for energy to mine cryptocurrency, if today you can even install similar power plants on the roofs of your houses without any problems? Perhaps the issue of energy consumption by miners should already be raised at the government level and solved using renewable energy sources. Then the problem will be solved once and for all.

when it comes to hydro and new cities..
countries make the dam and hydro first. and then make the new city around it.
while the new city is being built. the dam is producing hydro but has no city to consume it so they love cryptomining contracts. it pays for all that excess while the demand is low.

in a couple cases i found is that they can build cities quite quick.. 3-5 years to get first residents in. and so suddenly they need to pivot alot more power to the city. and within 10 years they will need to put more towrds the city. meaning tightening up on the allowance they give to mining.
many mining farms are already looking into this. and ensuring their farm is not pulling more power any any other warehouse/factory of any kind would thus not be treated unfairly in a few years. they do this by having multiple locations

however. i found its the home hobby miners that are getting slapped for mining. in many cases its 'stealing electric' by bypassing the meter/circuit break. or tapping into neighbours electric to dilute the metered consumption numbers per house to make it appear as 3 medium households rather than 1 max household

there are many news stories of residential miners getting busted by cops in different countries. but not really much news of mining farms getting stuff seized

It depends on the carrying capacity of each household in terms of electricity. Mining hobbyist would certainly not have a power line that is fitted for mining operation, hence putting a strain on the equipment that delivers electricity, further causing issues. But the statement of the government against cryptocurrencies is no news, as this was the stance taken by some countries in the past, too.

Due to the high uses of fuel fossil, electricity and oil fuel energies China government already banned Bitcoin mining and all kinds of Bitcoin transaction. But I think it could be possible to control bitcoin transactions at all.

Truly strange.

They don't like people to thrive legally with mining bitcoin. What's with that? they should have their own resolution that if those miners have their renewable energy and other source of energy that can be use that won't be affecting the whole generation of energy for their country.

They should spare the miners and allow them to keep going on.

Cutting electricity for Bitcoin mining plants is advisable in IRAN because the electricity consumption demand of these national operations is high in the summer. The government must prioritize electricity for things that are more important than Bitcoin mining.
Banning bitcoin mining plants is essential for the truth as even China is concerned about the lack of electric power. In summer, the water level of hydroelectric plants is low and not enough for the operation of power plants. In addition to exploiting electric energy, hydroelectric dams also have the use of irrigation dams.

When government can't produce enough amount of electricity needed for the people they will start looking for reasons to put blame on them and that is how bitcoin miners are taking effect. Even if they ban the miner it won't make a huge impact on the total hash rates but even after they ban and the blackout remains then what they will do?

The current reward is $35m, which means $10b a year and would lead to $450m a year and not 1 billion for 4.5%.
Second, it's not Iran that is making that money just as it's not China who makes billions in mining, it's companies that mine there who are making those earnings, and they have costs, and they have profits and they might pay squat in taxes while feeding on subsidized energy.

So unless you somehow have access to a document that shown how much miners have paid in taxes then the claim of Iran making billions from allowing miners is simply ridiculous. If Tesla sells 30k cars it doesn't mean the US had made a billion profit in car sales.


Huh? They only have one reactor ready and running, can you share those statistics?

If someone has a chance to make life better, even if it may not be 100% legal in the country where you live (specifically crypto mining), I don't see why not try if it's the only way to improve our quality of life. Most people live in the belief that their governments wish them well, but ordinary people around the world feel that this is not the case - so it is even more illogical to ban ordinary people from doing something that the government itself does.

I've read and listened all my life to governments around the world saying "don't do it, don't live like that", and then in the end it turns out that it's just ordinary hypocrites doing the same things - Bitcoin is freedom that anyone can practice, no matter what politicians speak and advise.

The Iranian government circumvents US sanctions by mining Bitcoin. Up to 4,5% of all BTC are mined by gigantic mining farms in Iran.
Iran makes up to $1 billion a year from mining BTC.

https://www.rferl.org/a/iran-crypto-mining-sanctions/31267432.html

Very two faced of them to then block mining for ordinary citizens.

In 1399, due to the many floods that came , the reduction of electricity through the dam again affected the electricity in the region.
I traveled to Manjil in 1397 (3 years ago) and all the wind turbines were working. But in my new trip to this city, many of the turbines were without caps and were defective and only a few of them were working.
Of course, this problem is also due to sanctions and the lack of new components. However, a country with this amount of energy and resources lacks electricity in the country?
(Today's situation in Iran is the same as it was 50 years ago in Europe)

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In one news, Iran announces the production of national digital currencies, but in the next news, it considers digital currency completely unusable and dangerous.
In the city of Kerman, sets up an mining farm and in the new news, he considers the purchase and sale of digital currencies a crime!
In Turkey, I am very happy with the government's support for bitcoin. I can sell my digital currencies without intermediaries whenever I want.
Due to the high cost of electricity, I do not mine bitcoins, but my family, who are in Iran and use cheap electricity, why should not mine?
Or why should they not exchange digital currencies legally? This is an injustice

[moderator's note: consecutive posts merged]

Then why give them licenses in the first place? I forgot, a significant amount of the so-called "illegal" miners might be their friends and family members ^{[those with major connections]}, so other legal miners should pay the price instead and turn off their mining rigs
^{- They just love making excuses to shift the blame to someone/something else; IIRC, they're still exporting electricity to some of the neighboring countries as well [SMH].}