Sounds weird, They are now allowing bitcoin miners but they did not clear their stands with regards to bitcoin trading. As we can remember that trading from other countries are not allowed.
So how can the miners prioritize the benefits if they can't sell it out. Is the government planning to buy all the mined coins?
Topic: Iran legalizes mining - page 3. (Read 913 times)
This is quite a bold move and not only beneficial to the crypto community.
If all goes well in the long run they will be inviting more and more investors to relocate to that place and also give other industries like the energy sector an opportunity to open up as a result of this development, just hope electricity tarriffs are competitive.
If all goes well in the long run they will be inviting more and more investors to relocate to that place and also give other industries like the energy sector an opportunity to open up as a result of this development, just hope electricity tarriffs are competitive.
I imagine the US government will take this as cause to further clamp down on exchanges and other Bitcoin services. They'll push for stricter regulations and enforcement under the guise of concerns over sanctions.
if they do it they will only use it as an excuse but the real reasons would be different. these sanctions didn't start yesterday, they have been there for years and no Iranian could ever use any of the bitcoin exchanges since none of them ever accepted them anyways!The sanctions didn't start yesterday, but the Treasury Department has been slowly ramping up its pressure on exchanges ever since 2017. A formal endorsement of mining by Iran suggests there will be increased Iranian capital flow into mining. Between that and the fact that Iranian officials have repeatedly said cryptocurrencies can be used to thwart sanctions, it makes sense that US officials are watching closely. The fact is that P2P markets, DEXs, and non-KYC exchanges could theoretically allow circumvention of sanctions.
the sanctions didn't start in 2017 either they started back in 1979 just as the revolution occurred in Iran and have been only increasing ever since. my point was that if US decided to do anything to exchanges in the name of Iran and sanctions,... they would be lying their asses off since Iranians never used any of these exchanges they have access to put pressure on in first place.
any other method they were using (DEX, P2P, certain exchanges,...) have been and will remain out of their jurisdiction and reach.
I think the heck is very good, but there is no clarity whether the officials will change their attitude about the use of cryptocurrency domestic payments or as an official payment instrument, because the central bank of Iran itself commanded Use of crypto for domestic payments at the end of January 2019 yesterday
I just read the coindesk article that was posted, and I think this line is very interesting.
I was just made aware of how cheap electricity in Iran is, it is currently around 0.05$ per kilowatt-hour, while china's cost is around 0.075$ per kilowatt-hour and America's is 0.12$ per kilowatt-hour. I wonder if this quote is hinting that the price is going to rise, or there's going to be extra taxes on miners?
Quote
Similarly, deputy minister energy for electricity and energy Homayun Haeri said government ministers will vote on a measure to approve an electricity rate for mining farms.
I was just made aware of how cheap electricity in Iran is, it is currently around 0.05$ per kilowatt-hour, while china's cost is around 0.075$ per kilowatt-hour and America's is 0.12$ per kilowatt-hour. I wonder if this quote is hinting that the price is going to rise, or there's going to be extra taxes on miners?
Iran's electricity sector is heavily subsidized by the state. Officials have made the point that they don't want to subsidize private miners. I imagine they want to establish regulations that jack up the rates miners pay.
I just read the coindesk article that was posted, and I think this line is very interesting.
I was just made aware of how cheap electricity in Iran is, it is currently around 0.05$ per kilowatt-hour, while china's cost is around 0.075$ per kilowatt-hour and America's is 0.12$ per kilowatt-hour. I wonder if this quote is hinting that the price is going to rise, or there's going to be extra taxes on miners?
Other then that, there's nothing much in the article, pretty sure the government just wants to cash in the people taking advantage of their cheap electricity.
Quote
Similarly, deputy minister energy for electricity and energy Homayun Haeri said government ministers will vote on a measure to approve an electricity rate for mining farms.
I was just made aware of how cheap electricity in Iran is, it is currently around 0.05$ per kilowatt-hour, while china's cost is around 0.075$ per kilowatt-hour and America's is 0.12$ per kilowatt-hour. I wonder if this quote is hinting that the price is going to rise, or there's going to be extra taxes on miners?
Other then that, there's nothing much in the article, pretty sure the government just wants to cash in the people taking advantage of their cheap electricity.
I always have a positive attitude to those countries that do not limit their residents in their rights.Now the crypto currency is really developing rapidly and it is very stupid to give up the advantages that it provides.Iran well done!Perhaps and-for this positive news mining in this country will be a very popular activity.
Iran have good goverment and become to familiar country by cryptocurrency community around the world, when electrical cost there are low and have fasility for outside community to joining, then iran will be crypto currency country friend. 
Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm
What is your opinion about that?
I always have a positive attitude to those countries that do not limit their residents in their rights.Now the crypto currency is really developing rapidly and it is very stupid to give up the advantages that it provides.Iran well done!Perhaps and-for this positive news mining in this country will be a very popular activity. What is your opinion about that?
Imagine if all of the US citizens and US Companies all sold all Bitcoin in 2 weeks and did not buy back in,
Bitcoin will be back at $50 and the miners will end up shutting down as they can't maintain the network now because of their excessive energy waste.
Bitcoin will be back at $50 and the miners will end up shutting down as they can't maintain the network now because of their excessive energy waste.
Hardly, you are giving too much weight to American holders. It is known that in this world the most holders live in China. If all Americans sold their Bitcoin, it would temporarily go down as you say, but never nowhere near $50. I doubt an American dump is able to manipulate the price beyond a few thousand.
If Trump does the same to Bitcoin, the net would route around it, exactly as designed. We are here in this very forum telling people in India how things would work in that case, USA is no different, same thing would apply: Use Tor, and be proud its an US Navy project, God Bless America.
I think that we are about to see more exciting things with regards to the cryptocurrency industry.
There is no shortage of news outlets hyping up countries and refer to them as crypto hot spots, while in reality there aren't any metrics actually pointing out that there is much happening over there. I haven't seen anything aside from a few local individuals in Venezuela who shared with the world they like crypto, haven't seen anything about Zimbabwe while it was praised for its Bitcoin adoption, etc.
This global 'adoption' that we're reading about seems to be as much of a buzz hype as the blockchain buzz hype itself is. Lots of talk and promises, but next to nothing that actually delivers something.
I imagine the US government will take this as cause to further clamp down on exchanges and other Bitcoin services. They'll push for stricter regulations and enforcement under the guise of concerns over sanctions.
if they do it they will only use it as an excuse but the real reasons would be different. these sanctions didn't start yesterday, they have been there for years and no Iranian could ever use any of the bitcoin exchanges since none of them ever accepted them anyways!The sanctions didn't start yesterday, but the Treasury Department has been slowly ramping up its pressure on exchanges ever since 2017. A formal endorsement of mining by Iran suggests there will be increased Iranian capital flow into mining. Between that and the fact that Iranian officials have repeatedly said cryptocurrencies can be used to thwart sanctions, it makes sense that US officials are watching closely. The fact is that P2P markets, DEXs, and non-KYC exchanges could theoretically allow circumvention of sanctions.
Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm
What is your opinion about that?
What is your opinion about that?
https://cointelegraph.com/news/iran-finalizes-electricity-pricing-scheme-for-cryptocurrency-miners
Quote
While Ha’eri did not elaborate on the exact price scheme, he stated that the price is dependent on market factors such as fuel prices in the Persian Gulf.
The head of Iran Electrical Industry Syndicate, Ali Bakhshi, previously proposed a price of $0.07 per kilowatt hour for cryptocurrency miners. Electricity in Iran is currently very cheap due to government subsidies; one kilowatt hour of electricity currently costs $0.05, with power being cheaper in the agricultural and industrial sectors.
To put these prices in context, Mostafa Rajabi Mashhadi, the Energy Ministry spokesman for the power department, previously stated that the production of a single Bitcoin (BTC) uses about $1,400 in state subsidies.
The head of Iran Electrical Industry Syndicate, Ali Bakhshi, previously proposed a price of $0.07 per kilowatt hour for cryptocurrency miners. Electricity in Iran is currently very cheap due to government subsidies; one kilowatt hour of electricity currently costs $0.05, with power being cheaper in the agricultural and industrial sectors.
To put these prices in context, Mostafa Rajabi Mashhadi, the Energy Ministry spokesman for the power department, previously stated that the production of a single Bitcoin (BTC) uses about $1,400 in state subsidies.
Actually more bad news than good.
The reason mining was so profitable their cheap subsidize electricity.
That is over , rate will be at least .07 per kilowatt and most likely higher and a tariff charged on all imported ASICS.
Don't forget , nothing stops them from later outlawing it and then seizing the ASICS for their own use.
This also increases the possibility that the US will Ban Bitcoin like they did the Petro.
All it takes is one executive order from Trump and Bitcoin is FUBAR.
Petro is centralized an thus easy to block and shutdown. All you have to do is block access to the single server, or make something happen to the single data center where its few (private) nodes reside. Absolute garbage.
On the opposite you cannot block Bitcoin, there is no single point of failure. If a country like Iran wants to evade US sanctions, all they have to do is use any decent crypto, such as Bitcoin and not bother with centralized garbage.
Besides Venezuela is having enough trouble managing to keep the lights on, yesterday we had yet another nationwide blackout of over 12 hours, and again the "evil Americans" with their "electromagnetic pulse weapon" are to blame (again).
The term 'legalize' has been used loosely for so many times that it starts to get mixed up with the term 'regulated.' Iran simply regulated the mining scene in their country and that's it, although it's still one step forward towards crypto acceptance nonetheless. Anyway, I hope that Iranians capitalize on this decision made by the government and do some actual advancements for their own community. They may have received multiple economic sanctions from the US government and are still being pressed by Trump up to this day, but through bitcoin and cryptocurrencies they finally have some avenue to at least stay connected to the rest of the world and doing some progress on their own.
Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm
What is your opinion about that?
What is your opinion about that?
I believe that this decision has to do with the rivalry that Iran has with the US.
When they heard that Trump is opposed to cryptocurrencies they started to make positive statements about crypto and blockchain firms in general. I think that we are about to see more exciting things with regards to the cryptocurrency industry.
Next to China is Iran when it comes to electricity cost https://bitcoinist.com/wp-content/uploads/2018/03/Bitcoin-Mining-Electric-Costs-By-Country.jpg
This opens up for miners to migrate specially from residing countries consider that mining would be profitable since there would be no headaches on making operation.
At least Iran government somehow consider such decision.
This opens up for miners to migrate specially from residing countries consider that mining would be profitable since there would be no headaches on making operation.
At least Iran government somehow consider such decision.
Good news,however I think it will affect the economy, it's only good for the electronic market, think about it if it happens in many places, it will boost the price of the coins and it is good for all of us here.
And what is the price of electricity in Iran? It is not profitable? And in General, any legalization is a small victory for the crypto community.
You just lied mate, any legalization would or will go a longer way to help the cryptocurrency community. For Iran taken such bold step will make more sense if the other countries will able and accept the fact that, digital currency is the most transparent record keeping technology. Iran just accepted bitcoin miners and not legalize bitcoin mining.Legalization comes with some laws about cheap electric power for miners, if you want to learn more about this i will leave here the full article 'Iran Finalizes Electricity Pricing Scheme for Cryptocurrency Miners'
https://cointelegraph.com/news/iran-finalizes-electricity-pricing-scheme-for-cryptocurrency-miners
The article is only 2 days old, so is fresh material for the topic.
Actually more bad news than good.
The reason mining was so profitable their cheap subsidize electricity.
That is over , rate will be at least .07 per kilowatt and most likely higher and a tariff charged on all imported ASICS.
Don't forget , nothing stops them from later outlawing it and then seizing the ASICS for their own use.
The reason mining was so profitable their cheap subsidize electricity.
That is over , rate will be at least .07 per kilowatt and most likely higher and a tariff charged on all imported ASICS.
Don't forget , nothing stops them from later outlawing it and then seizing the ASICS for their own use.
the plan was never to prevent miners from mining. the plan was to take their cut from it from day one, just like any other country and their tax man
this means the cost of electricity for these miners will not be that much higher, there profit will surely reduce compared to when they were stealing electricity but it still will remain high enough for them to continue.
In my opinion this decision will not affect anything
Who will risk to move to Iran to build a mining facility?
Who will guarantee safety, low electricity costs and stability in general?
I would only build a mining facility in a stable country, it's not woth the risk to mining in some countries
Who will risk to move to Iran to build a mining facility?
Who will guarantee safety, low electricity costs and stability in general?
I would only build a mining facility in a stable country, it's not woth the risk to mining in some countries
They just made their country the top one priority for miners to change their locations with. They have been the preferred choice for foreign miners as they have cheap electricity which cibsideravly reduces the costs of their operations. Now that they have officially legalized crypto mining then we can expect that even their own citizens will start and go mine crypto not only foreigners taking advantage of their resources.
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