Topic: Iranian Bitcoin Mining Ban Lifted after four Months - page 2. (Read 354 times)
Knew that this was going to be gone someday, the ban back then was abrupt and like any other bans before that's against bitcoin, this one isn't any different than that other than their durations. It's not big of a deal though that Iran lifted the ban, not many talks about it.
It's good that the ban was lifted, but what does it mean that only licensed miners can come back to their activities? I mean, what are the tax implications, does the license cost anything and what other requirements they must go through? I think it's important to know the details because if the regulations are tough, it might be that mining is effectively out of reach, but only formally allowed to come back. Paying the electricity bills and some reasonable taxes is one thing, but obtaining a license, establishing headquarters and reporting regularly to the authorities would be very different.
I think the iranian government hasn't accepted Bitcoin mining, but have deliberated about the ban they placed and how it has made them looked in the face of a changing digital world, I think the next thing is to remove the ban and place a requirement to mining of Bitcoin, I really wonder how hard it would be to actually get the said license to be allowed to mine Bitcoin in iran, many miners won't really buy the idea of getting licensed some want to remain an anonymous Miner, so the numbers of bitcoin miners in Iran are cut.but the problem is that electricity supply remains an obstacle when many miners both in individuals and groups make Iran think hard about this.
but this becomes like an overlap between one another, apart from that, I think there are consequences that cannot be changed when making a policy.
There were already lots of topics here on the forum where people were talking about the electricity consumption of bitcoin mining, not in Iran but in other countries all over the world, the whole point regarding electricity consumption is miners are not consuming more electrical power than the banks when they print the useless paper money. However, I was really trending especially during the last weeks and in my own idea, the miners can replace the traditional electricity power with solars cells. But still, this can be normal to see the increase in power consumption in the middle of summer and miners are not guilty of this story.
Iran made ban on bitcoin mining after gathering information of mining farms around the country. According to the data it is clear that more than 90% miners were using illegal electricity and without proper licensing. Only 5-10% were doing it in a legal way with proper licensing from the respective authorities. This illegal usage of electricity resulted on the deficit of day to day needs around the country. Now the government might've made required changes and lifted the ban.
This makes much more sense on their move to prohibit mining in Iran. I was surprised by this move especially that mining brings revenue to the government in return.
With the reason that 90% of the miners get their energy/electricity illegally, it is obvious that the government would have to pass an prohibitive suspension on mining. But with its move in lifting the ban, this may attract more miners in return which would contribute to the overall price of BTC in the market.
As with my current opinion, we still find that there is a ban on every exchange allowing Iran to transact crypto. To complete the country blocking, confirmation from the government is needed so that it can also lift Iran's restrictions on exchange.
Just to be clear, Iran never imposed those restrictions, uncle Sam did + there are still a few foreign exchanges out there that allow Iranians to use their platforms.I should add that the electricity issues began in 2020 for a short duration and the biggest issue was about 2 months in 2021 during summer and they have all been resolved already.
I have to respectfully disagree [to an extent] with the latter part. Although they've significantly lowered the power outages in some places, there are still some places that experience it regularly.I also believe that the evidence suggest that most mining farms didn't stop mining and the news about the ban was mainly a show.
This! Those with close ties with the government never stopped [regardless of what the media says].does the license cost anything and what other requirements they must go through?
I'm not sure about its exact cost & requirements, but those with licenses have to pay a slightly higher electricity rate than what normal consumers pay. 
This is further proof that you can't ban Bitcoins and cryptocurrencies in general. If Iran can't do it, even though it's a quasi-dictatorship and has great control over the local Internet, then large open countries like those in the West won't be able to do it. This should be clear by now to everyone who constantly puts the argument on the table that Bitcoin won't be worth anything anymore once it gets banned.
This all happened because they had checked all the bitcoin mining done in their country, and currently illegal users cannot use the power grid and those who already have a license will be allowed back to use the crypto network, and Iran lifted this ban has a strong reason because they know that with crypto users in the country then they can get a very large profit and can increase their country's income, And now they have arranged all sectors to avoid the loss of their country.
I think that is a form of regulation that they implement for the miners so no illegal miners will use the power for their own benefits. That is good for the miners. They can still rerun their mines without being afraid of the government because they already know they do not try to break their law. Maybe after this, there will be other regulations for people who use crypto but hopefully, the regulations will not be too difficult to follow. 
There was complete blackout in some major cities for few days back in that time due to shortage of electricity
The power was rerouted from elsewhere and the power outage didn't last more than a couple of hours as far as I remember. It definitely wasn't "few days of complete blackout".License is always expensive for most people,
License in Iran doesn't have the "western" meaning to it. It is so much easier to get and it practically costs nothing apart from basically the cost of paper work. According to law it can not exceed about $3.5 and that is not expensive for anyone at all!if the government of Iran had suspended the miners for a few months, would these miners sit for a few months waiting to be allowed to return to mining or did they look for other countries where they could mine more freely?
You can't just pack up a big mining farm and migrate!Besides as I said before I have reasons to believe this was for show, miners never stopped mining. Additionally bitcoin entered Iran's budget to be used for import/export, they won't just stop mining for a couple of months missing out on about $500 million revenue.
Nothing to rejoice here. What about the huge losses suffered by the miners during the last 4 months? Who is going to reimburse them? Iran proved itself to be a very unreliable country for the cryptocurrency mining industry. For now, the ban on mining has been lifted. But we don't know when it will be imposed again. What the mining industry doesn't need is such unpredictability. And I don't really understand how there can be a power shortage in Iran. They are among the largest producers of oil and natural gas. A large part of the natural gas is just flared and wasted. Why can't they use it for electricity production?
No options left when they realize Bitcoin couldn't be stopped, they have to lift the ban. US nor China couldn't stop crypto.
Iran's government can do what El Salvador did if they really want to survive the catastrophic effect of the current crisis. They still could live with their currency but having a lightning network of their own just like Chivo of El Salvador, they can run their economy and also start mining BTC. Or they could just tax the companies running mining farms.
This all happened because they had checked all the bitcoin mining done in their country, and currently illegal users cannot use the power grid and those who already have a license will be allowed back to use the crypto network, and Iran lifted this ban has a strong reason because they know that with crypto users in the country then they can get a very large profit and can increase their country's income, And now they have arranged all sectors to avoid the loss of their country.
Iran made ban on bitcoin mining after gathering information of mining farms around the country. According to the data it is clear that more than 90% miners were using illegal electricity and without proper licensing. Only 5-10% were doing it in a legal way with proper licensing from the respective authorities. This illegal usage of electricity resulted on the deficit of day to day needs around the country. Now the government might've made required changes and lifted the ban.
Honestly, they need to reconsider lifting the ban and focus on making some positive development to use bitcoins for their economic growth. Iran's case is different than China where they still have some good thoughts about bitcoins. If those miners will just pay attention and use every necessary thing to be able to mine bitcoins without problems, then the government might consider them to mine freely and bitcoins will once again stay neutral in Iran.
Iran made ban on bitcoin mining after gathering information of mining farms around the country. According to the data it is clear that more than 90% miners were using illegal electricity and without proper licensing. Only 5-10% were doing it in a legal way with proper licensing from the respective authorities. This illegal usage of electricity resulted on the deficit of day to day needs around the country. Now the government might've made required changes and lifted the ban.
That's a good move by the government then. I like the fact that they did completely scrapped up the Bitcoin mining activities from happening in their country even though I think it would be censored but it's still a good effort from the government because it would help to boost their economy a bit even though the difference won't be much but it's honest work.
Well the reason is not really because of the Cryptocurrency itself but because of the illegal activities. I think once Iran see the potential of cryptocurrency in the long run they might be persuaded to join the Bitcoin frenzy like El Salvador. But I think the Persians has already been doing crypto for a long time now and it is not being banned in their country, so that is already good news on its own. Let's see what will happen in the next few years.
Iran made ban on bitcoin mining after gathering information of mining farms around the country. According to the data it is clear that more than 90% miners were using illegal electricity and without proper licensing. Only 5-10% were doing it in a legal way with proper licensing from the respective authorities. This illegal usage of electricity resulted on the deficit of day to day needs around the country. Now the government might've made required changes and lifted the ban.
That's a good move by the government then. I like the fact that they did completely scrapped up the Bitcoin mining activities from happening in their country even though I think it would be censored but it's still a good effort from the government because it would help to boost their economy a bit even though the difference won't be much but it's honest work.
This is a pleasure news to hear, these days I myself kinda bored heard FUD news about china this, china that, and so forth. Nevertheless I don't think by lifted bitcoin mining ban regulation Iran would likely accept bitcoin as a currency later, both are different things which wouldn't always walk along as united.
Well it is indeed good news to them even though it is only for mining bu8t we hope soon they will legalize cryptocurrency mining and using it in merchant and trading as well. Banning is a temporary solution but having a law in regards to legal mining is for the long-term, and that they need to do.
This is a pleasure news to hear, these days I myself kinda bored heard FUD news about china this, china that, and so forth. Nevertheless I don't think by lifted bitcoin mining ban regulation Iran would likely accept bitcoin as a currency later, both are different things which wouldn't always walk along as united.
Well it is indeed good news to them even though it is only for mining bu8t we hope soon they will legalize cryptocurrency mining and using it in merchant and trading as well. Perhpas by this October, we again experience a huge effect on the price of the crypto market, possible there will be a bull run. I hope there are too my good news will come so that bitcoin itself will increase the price altogether with the altcoins. However, I hope this healthy regulation of crypto will lead us to a successful day, if all governments like this, there should be no pump at all.
this made me question the following:
if the government of Iran had suspended the miners for a few months, would these miners sit for a few months waiting to be allowed to return to mining or did they look for other countries where they could mine more freely?
If I had a mining business in Iran, I wouldn't spend months waiting for the government to authorize mining again, I would go to another country. so i think miners should not stay in unstable countries like iran, china and other countries.
if the government of Iran had suspended the miners for a few months, would these miners sit for a few months waiting to be allowed to return to mining or did they look for other countries where they could mine more freely?
If I had a mining business in Iran, I wouldn't spend months waiting for the government to authorize mining again, I would go to another country. so i think miners should not stay in unstable countries like iran, china and other countries.
Good news again, maybe the temporary ban was just to make the right policy on how to regulate the crypto mining business in the country. Seems they found the way already and they realized it's a great opportunity for the government to make money as income will continue to flow through taxes if people are profitable with their business.
That was a short ban only unlike China that which may be forever, so let's consider this big news for the crypto space.
That was a short ban only unlike China that which may be forever, so let's consider this big news for the crypto space.
This is a pleasure news to hear, these days I myself kinda bored heard FUD news about china this, china that, and so forth. Nevertheless I don't think by lifted bitcoin mining ban regulation Iran would likely accept bitcoin as a currency later, both are different things which wouldn't always walk along as united.
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This is also good news but Iran never supports Bitcoin as payment or currency.
However, I don't know what the OP see before she believe in what she read from Cointelegraph by saying Iran will make Bitcoin legal for local merchants to accept it as payments, and the rules and regulations of countries like Iran I doubt this will happen.
However, I don't know what the OP see before she believe in what she read from Cointelegraph by saying Iran will make Bitcoin legal for local merchants to accept it as payments, and the rules and regulations of countries like Iran I doubt this will happen.
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