Gov. Electricity subsidies for Crypto Mining

rodik888

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Quote from: User365 on September 11, 2017, 10:23:15 AM

Well it is already happening Wink

1. Russias biggest electicity provider offers cheaper rates if you are mining

2. RMC (Russia mining coin) is a Russian ICO of a Russian mining company affiliated with Vladimir Putin. https://rmc.one/

for now its just noise. What amount will they be getting back from the gov. ? is that publicly published anywhere yet?

HeRetiK

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Quote from: Barcode_ on September 12, 2017, 07:25:19 AM

If the government wanted to do crypto-currency mining, I think they would set up a mining site by themselves, why would they want to subsidy you on electricity fees for you to do mining by yourself. Bitcoin price might goes up a lot if governments of a few countries are very active in mining bitcoins.

Not necessarily. Challenge being to run such an operation yourself, you'd have to find and hire the right people to maintain said operation. Governments being governments, this would come with an unnecessarily large administrative overhead, so in many cases it's more viable to simply provide the right incentives for private entrepreneurs. It's similar to how privately owned companies tend to run more efficiently and effectively than state run companies.

rodik888

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Quote from: Barcode_ on September 12, 2017, 07:25:19 AM

If the government wanted to do crypto-currency mining, I think they would set up a mining site by themselves, why would they want to subsidy you on electricity fees for you to do mining by yourself. Bitcoin price might goes up a lot if governments of a few countries are very active in mining bitcoins.

The same can be said for solar and wind-mill energy. The government can do it themselves, but they offer subsidiaries instead.

Barcode_

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If the government wanted to do crypto-currency mining, I think they would set up a mining site by themselves, why would they want to subsidy you on electricity fees for you to do mining by yourself. Bitcoin price might goes up a lot if governments of a few countries are very active in mining bitcoins.

radhekrishna

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first of all ,
why government will provide you subsidy for crypto mining , if you need free electricity invest a big money on solar power and enjoy ,

if i got any chance that government will provide free electricity i will start mining

sepely

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who don't want more profit?
ofcourse i want to mining with low electric cost.

shield132

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Quote from: rodik888 on September 11, 2017, 06:57:12 AM

If the gov. offered you subsidies for mining ... would you invest into it ?

When goverment needs mining centers and bitcoin development and offers you cheap electricity fees, of course you have to say yes. When goverment is behind you and especially the job you do is what goverment wants, you can feel much secure and get more help from goverment. Expand is very easy in this situation.

User365

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physics, mathematics and engineering

Well it is already happening Wink

1. Russias biggest electicity provider offers cheaper rates if you are mining

2. RMC (Russia mining coin) is a Russian ICO of a Russian mining company affiliated with Vladimir Putin. https://rmc.one/

carlfebz2

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Quote from: HeRetiK on September 11, 2017, 08:03:10 AM

Quote from: rodik888 on September 11, 2017, 06:57:12 AM

If the gov. offered you subsidies for mining ... would you invest into it ?

You mean like offering cheap electricity / subsidies for buying mining hardware? Oh definitely.

Even though I don't have any room right now I would find a place to set up a handful of miners. Right now I don't feel like it's worth the hassle, but with government subsidies that would look wholly different. Of course the profits would quickly diminish due to other people receiving a mining subsidy as well, but at least short- to mid-term it would be an interesting proposition.

If someone backed-up you regarding on this matter then you will surely changed your mind.Even I, would really accept the thing even though I do see mining isn't profitable or quiet hassle to me but if government subsidies then it would really be a different story as of now same as you said but this thing would really be a hard thing to happen for sure.Government wont really easily jumped or made such decisions.

BitPACK

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all government will join this mining in the future. nuclear energy is very cheap for mining. and if government join to mining bitcoin prices go up very fast.

HeRetiK

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Quote from: rodik888 on September 11, 2017, 06:57:12 AM

If the gov. offered you subsidies for mining ... would you invest into it ?

You mean like offering cheap electricity / subsidies for buying mining hardware? Oh definitely.

Even though I don't have any room right now I would find a place to set up a handful of miners. Right now I don't feel like it's worth the hassle, but with government subsidies that would look wholly different. Of course the profits would quickly diminish due to other people receiving a mining subsidy as well, but at least short- to mid-term it would be an interesting proposition.

Rahar02

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If I live in the Country which govs wants to subsidize electricity costs, I will invest or start my own mining farm.
Well, this isn't just a tales as Russia government will subsidize electricity for miners in Russia.

"The Institute for Internet Development (IRI) and the Russian Association of Blockchain and Cryptocurrency (RABIK) are reportedly working on a pilot project to subsidize electricity costs related to cryptocurrency mining. IRI director of project activities Arseny Shcheltsin told daily newspaper Izvestiya this week that mining farm owners would receive discounts on electricity but did not disclose the actual location of the project." https://news.bitcoin.com/project-subsidize-electricity-costs-cryptocurrency-miners-russia/

FYI; Russia's finance ministry and the central bank are developing proposals to legalize cryptocurrencies including bitcoin which is expected by the end of this year, bitcoin will have another Big Country join in the game of legalization this phenomenal digital currency.

rodik888

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If the gov. offered you subsidies for mining ... would you invest into it ?

Topic: Gov. Electricity subsidies for Crypto Mining (Read 465 times)