Industrial mining is categorized as which business?

Benson Samuel

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Quote from: subvolatil on July 06, 2014, 06:47:38 AM

Quote from: BTCIndia on July 06, 2014, 06:17:52 AM

Quote from: subvolatil on July 04, 2014, 01:41:27 AM

Quote from: Benson Samuel on July 03, 2014, 09:48:54 AM

Quote from: BTCIndia on July 03, 2014, 02:34:20 AM

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Server Farm?

It would run as a data center/ Server farm,
Basically it is under IT services as Mining basically only does payment processing.

I've a clue, we can categorize it as IT services. Are there specific licenses required for IT service? And I'm not sure it does payment processing.
Payment is term used for money/legal tender. Not barter! I guess, Bitcoin is barter...as of now.

NO.

And remember the Indian Licence Raj ended around 1980's.

only IT field i know, that has licences is the ISP services besides that you dont need licences for running any IT service. (I feel this as unnecessary too)

We have to stop think that every business needs licences. It does not.

Bitcoin Miners are doing calculations, it's as simple as that.

I agree with sub, bitcoin mining in a farm is all about doing calculations and disseminating that information. This is the same task of a server farm that calculates any other algorithm and then passes that info to the client.

subvolatil

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Quote from: BTCIndia on July 06, 2014, 06:17:52 AM

Quote from: subvolatil on July 04, 2014, 01:41:27 AM

Quote from: Benson Samuel on July 03, 2014, 09:48:54 AM

Quote from: BTCIndia on July 03, 2014, 02:34:20 AM

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Server Farm?

It would run as a data center/ Server farm,
Basically it is under IT services as Mining basically only does payment processing.

I've a clue, we can categorize it as IT services. Are there specific licenses required for IT service? And I'm not sure it does payment processing.
Payment is term used for money/legal tender. Not barter! I guess, Bitcoin is barter...as of now.

NO.

And remember the Indian Licence Raj ended around 1980's.

only IT field i know, that has licences is the ISP services besides that you dont need licences for running any IT service. (I feel this as unnecessary too)

We have to stop think that every business needs licences. It does not.

Bitcoin Miners are doing calculations, it's as simple as that.

BTCIndia

hero member

Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: subvolatil on July 04, 2014, 01:41:27 AM

Quote from: Benson Samuel on July 03, 2014, 09:48:54 AM

Quote from: BTCIndia on July 03, 2014, 02:34:20 AM

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Server Farm?

It would run as a data center/ Server farm,
Basically it is under IT services as Mining basically only does payment processing.

I've a clue, we can categorize it as IT services. Are there specific licenses required for IT service? And I'm not sure it does payment processing.
Payment is term used for money/legal tender. Not barter! I guess, Bitcoin is barter...as of now.

BTCIndia

hero member

Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: Benson Samuel on July 03, 2014, 09:48:54 AM

Quote from: BTCIndia on July 03, 2014, 02:34:20 AM

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Server Farm?

Frankly speaking, I don't know what is server farm. If running dozens of ASIC's is called 'server farm' then.. yeah! Its server farm.

BTCIndia

hero member

Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: adv.kanishk on July 03, 2014, 08:20:15 AM

hmmmm....interesting and a screwed q......make the text more understandable and provide more facts

Consider this scenario:

I've facility of 10,000 square feet, LT/HT connection, cooling unit, lease line, and there I've running some instruments day and night. That's it!

Following are questions:
1. Am I doing business? Because, anything that helps us earn 'money/leagal tender' can be categorized as business. Here, I'm earning some stupid codes, known as Bitcoin.
2. Lets call it business! Which category do I belong? Manufacturing, IT services.. or what? What keywords should I use in MOA and AOA?
3. Once, we know category, we'd have another question. Any licenses required?

subvolatil

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Activity: 546

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Cypherpunk and full-time CryptoAnarchist

Quote from: Benson Samuel on July 03, 2014, 09:48:54 AM

Quote from: BTCIndia on July 03, 2014, 02:34:20 AM

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Server Farm?

It would run as a data center/ Server farm,
Basically it is under IT services as Mining basically only does payment processing.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: BTCIndia on July 03, 2014, 02:34:20 AM

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Server Farm?

adv.kanishk

member

Activity: 117

Merit: 10

hmmmm....interesting and a screwed q......make the text more understandable and provide more facts

BTCIndia

hero member

Activity: 686

Merit: 500

vini, vedi, no vici.

In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences?

Topic: Industrial mining is categorized as which business? (Read 989 times)