All the reasons are because of the pandemic to recover the economy with different plans and reasons, indirectly the pandemic brings positive things for bitcoin or crypto.
and with what we saw during the pandemic, bitcoin users are increasing including countries that have started or are planning to legalize and view bitcoin or crypto positively as a source of income.
and I don't care about countries that legalize or allow mining in their country because for me anything positive for bitcoin I really support and also slowly bitcoin growth will be brighter in the future.
Topic: Legalization. In Ukraine and now Laos - page 2. (Read 581 times)
I saw that many politicians in Ukraine declared ownership of Bitcoin and they are probably the country with biggest number of politicians who publicly own Bitcoin, in total they have around 46351 BTC, much more than all politicians in US have together.
This should be the path to follow for other countries, and that will result in Bitcoin being legalized everywhere, when politician have some skin in Bitcoin game.
Going opposite way would be doing something like China and their dictatorial regime did, banning everyone from using crypto but we know they are still using it illegally.
Anyone can confirm this data here:
https://opendatabot.ua/analytics/135-bitcoin-rada
Electricity factor is always a factor, that is why miners first went to China, but Ukraine and other countries also have cheap electricity, and as we can see political system is supporting Bitcoin personally, that is very important part of the puzzle.
This should be the path to follow for other countries, and that will result in Bitcoin being legalized everywhere, when politician have some skin in Bitcoin game.
Going opposite way would be doing something like China and their dictatorial regime did, banning everyone from using crypto but we know they are still using it illegally.
Anyone can confirm this data here:
https://opendatabot.ua/analytics/135-bitcoin-rada
Let's get things straight, though. Electricity is not a problem, but a challenge. And we do need a bit more awareness to bring the discussion away from "Bitcoin mining is consuming power the size of X country", to "the cost-benefit" of securing the network.
I think that money paid for securing most secure computer network in the world ever, is well worth spend, same as the energy is well spent.Electricity factor is always a factor, that is why miners first went to China, but Ukraine and other countries also have cheap electricity, and as we can see political system is supporting Bitcoin personally, that is very important part of the puzzle.
Crypto mining would be a good option for countries with cheap energy and specially for renewable plants that produce more than they could supply to the grid. For Laos, 80% of their energy demand is provided by renewables and that's increasing. With the xayabury dam, Loas would produce more energy than it needs now. They need to use it to something productive and bitcoin mining is perfect solution for use of excess energy.
Is feels good seeing Bitcoin growing and gets legalize in countries. Ukraine accepted Bitcoin, and now Laos have also followed the step. However, with time we will know if the information is true. I believe with time, other Government will understand the benefits Bitcoin offers, and accept it. Laos is blessed with green energy, and also according to report from their Prime Minister's office, six companies have been authorized to start the mining and trading of Bitcoin, Ethereum and Litecoin.
Of course this is good news if many countries are starting to legalize bitcoin. considering there are several countries that oppose and ban bitcoin these days. Regarding whether the news is true or not, we know that there are a lot of inaccurate news out there, but I hope this is accurate news. if many countries legalize bitcoin, of course the population will also be helped and automatically the country's economy can also be helped if people can use bitcoin well. I hope that bitcoin will continue to develop well in the future.
Asian nation Laos to legalize Bitcoin mining and trading
I am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.
I mean terms like ban, legalize can be used and misled by social media and whales.
Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map
I think Laos is currently studying what impact will happen if they accept bitcoin as a legal tender, so they start by legalizing bitcoin mining in their countryI am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.
I mean terms like ban, legalize can be used and misled by social media and whales.
Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map
since El Salvador accepted bitcoin as a legal tender, many developing countries have started to pay attention to the impact that is happening in El Salvador. if the impact is positive in the next few years, developing countries that are not as strong as China or the US will start to make bitcoin as a legal tender in their countries
the electricity problem is a very crucial thing for mining
Let's get things straight, though. Electricity is not a problem, but a challenge. And we do need a bit more awareness to bring the discussion away from "Bitcoin mining is consuming power the size of X country", to "the cost-benefit" of securing the network.
I daresay any kind of mining legalization probably recognises that the cost does come with significant benefit for a universal monetary system.
Besides, power consumption is hardly unique to mining -- even without all the media distractions about how it's so energy-intensive, the industry itself is constantly trying to make things more efficient.
Legalization is much better than just completely banning all Bitcoin and crypto-related stuff like China did. I had no doubt that those who are not embracing cryptocurrencies in open arms will be left behind. They might realize it in a few years from now to a decade or so, as Bitcoin never stops getting adopted in various cases worldwide.
One by one & then they will all come. In 20 years any country refusing to adapt & adopt bitcoin will be left behind.
It’s only a matter of time, we must be patient.
In a way, I approve of the above. Crypto will be inevitable and for sure it is only a matter of time but before that comes we need to bring our focus to today and seeing all of these talks/promises it is great. But essentially we want to see it implemented, and not by Asian countries but also Europe as well as other continents. It’s only a matter of time, we must be patient.
For sure, Ukraine and Laos are a step up but more countries are needed for the wider adoption everyone is talking about. Though so far this is progress nonetheless.
IMO, I believe it can bring opportunity in Laos if it's true, Laos is a landlocked nation with an abundance of flowing rivers that produce high output of electricity from hydropower plants so it has no pollution issues to discuss, and its good for Bitcoin mining because as we all know Bitcoin mining was a hot topic in the previous discussions because of dirty electricity source while mining Bitcoins.
indeed, if it is true that Laos has built a hydropower plant, of course it is very helpful for a very large opportunity as you said, because indeed the electricity problem is a very crucial thing for mining, but if they can solve it, of course it can make the main problem can be solved. so it is appropriate that the country wants to legalize it, because it will clearly help the country's economy by making its people able to generate additional income from mining. Of course, all that remains is to regulate it with binding rules so that the state can also benefit and can regulate so that there is no abuse. Asian nation Laos to legalize Bitcoin mining and trading
I am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.
I mean terms like ban, legalize can be used and misled by social media and whales.
Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map
I am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.
I mean terms like ban, legalize can be used and misled by social media and whales.
Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map
Let's see in the upcoming months whether this will cause a positive effect or not, the legitimacy of this news will soon be proved if there's a good outcome which will be seen on Bitcoin price along with other promising coins. For now, main stream media will ride on this trend and potentially gather strong focus particular with biggest investors who's actively waiting for the right time to invest their money on bitcoin.
Asian nation Laos to legalize Bitcoin mining and trading
I am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.
I mean terms like ban, legalize can be used and misled by social media and whales.
Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map
I am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.
I mean terms like ban, legalize can be used and misled by social media and whales.
Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map
Let's see in the upcoming months whether this will cause a positive effect or not, the legitimacy of this news will soon be proved if there's a good outcome which will be seen on Bitcoin price along with other promising coins. For now, main stream media will ride on this trend and potentially gather strong focus particular with biggest investors who's actively waiting for the right time to invest their money on bitcoin.
I think that by leagalize i mean that they mean that they will be putting some laws around it , whether that is to implement some taxes or some form of limitation in order to get in on the hype of the cryptocurrency, not that even matters because i am sure that like any other country where the haven't made any law about the cryptocurrency things are always working in the shadows, and nobody cares.
Legalize may mean that it can be allowed to used by the people as an asset. I am not sure whether allowing an asset to be traded like gold and silver needs legal backing or a decree from the government but all I know is, when it is allowed, then it means it is allowed. There will be no laws that would prevent it or make it illegal, but also it is like a gray area where if you lose money because of mishandling crypto investments, there would be no government insurance that would pay you.
This is good news, more and more countries are legalizing bitcoin so it will make the number of active users continue to increase, Ukraine and Laos will have a positive impact on the world because bitcoin is the future of the transaction system.
IMO, I believe it can bring opportunity in Laos if it's true, Laos is a landlocked nation with an abundance of flowing rivers that produce high output of electricity from hydropower plants so it has no pollution issues to discuss, and its good for Bitcoin mining because as we all know Bitcoin mining was a hot topic in the previous discussions because of dirty electricity source while mining Bitcoins.
Even if the electricity is cheap, there's still the fact that it's probably not popular and from what I remember, Laos has a small population to really impact the market big time. Man, I do hope though that other Southeast Asian countries will follow what Laos did because I feel like the protection of the law should be experienced by the crypto community.
I doubt that other Southeast Asian countries can follow because majority of nation around that region, the electricity is not that cheap. There are even some countries in SEA who doesn't have adequate electricity, so I'm surprised that Laos has such abundance of it, while it's neighbors suffers from some black outs.
Philippines is one of the countries with high electricity rates, thanks to a monopoly of electric companies scattered all over the country. Electricity rates are cheaper in areas near electric power plants and in the remote provinces. But in the major urban areas and major cities, the electricity rates are very high. So many crypto peeps here do mining very scarcely or very minimal only as the rates are so high.
Bitcoin in Laos isn't very much popular compared to other Southeast Asian countries. From what I can remember, only a small percentage of their population is engaged with the internet, and most of them are still relatively poor when compared to other citizens of the neighboring countries. Perhaps what they mean by legalize is drafting laws and creating a regulatory framework for future laws that they can pass re: bitcoin and cryptocurrencies. They can very well use it if adoption picks up pace in the country, that I am sure.
It is probably their people who are waiting for such legalization before their getting interested in cryptocurrency or in Bitcoin. I expect a huge engagement on the market once it was officially announced and there is a law that protects their people. If the government is serious about this development and market integration, this could create trust between their people and crypto. Maybe we could say that internet connection is a big factor that will affect the adoption but I believe the government can find a way to solve the problem.
I think it takes time before Laos will take fully accepted bitcoin in their country and until now their government is undecided regarding this issue.
Bitcoin in Laos isn't very much popular compared to other Southeast Asian countries. From what I can remember, only a small percentage of their population is engaged with the internet, and most of them are still relatively poor when compared to other citizens of the neighboring countries. Perhaps what they mean by legalize is drafting laws and creating a regulatory framework for future laws that they can pass re: bitcoin and cryptocurrencies. They can very well use it if adoption picks up pace in the country, that I am sure.
It is probably their people who are waiting for such legalization before their getting interested in cryptocurrency or in Bitcoin. I expect a huge engagement on the market once it was officially announced and there is a law that protects their people. If the government is serious about this development and market integration, this could create trust between their people and crypto. Maybe we could say that internet connection is a big factor that will affect the adoption but I believe the government can find a way to solve the problem.
Bitcoin in Laos isn't very much popular compared to other Southeast Asian countries. From what I can remember, only a small percentage of their population is engaged with the internet, and most of them are still relatively poor when compared to other citizens of the neighboring countries. Perhaps what they mean by legalize is drafting laws and creating a regulatory framework for future laws that they can pass re: bitcoin and cryptocurrencies. They can very well use it if adoption picks up pace in the country, that I am sure.
I think that by leagalize i mean that they mean that they will be putting some laws around it , whether that is to implement some taxes or some form of limitation in order to get in on the hype of the cryptocurrency, not that even matters because i am sure that like any other country where the haven't made any law about the cryptocurrency things are always working in the shadows, and nobody cares.
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