CBN ban direct bitcoin and other crypto transactions, Nigerians moved to peer-to-peer. The government did not ban bitcoin and other cryptocurrencies, the government do not ban bitcoin mining.
AliExpress would be one of the better site to buy miner, they ship directly to Nigeria. I have not tried buying from AliExpress before, but I have someone that make use of AliExpress for buying some goods directly. Or maybe ordering directly from the manufacturer after the price has been compared.
Where I stay in Nigeria, we have like 5 hours light daily, even since some days ago, it is not more than 2 to 3 hours daily as you know that we have poor electricity supply in Nigeria, more especially during dry season as they depend on hydroelectric power plant that depends on a dam water current. Poor electricity in Nigeria is one of the reasons Nigerians do not go into mining. If considering solar, it is very expensive to setup, but I have not done a calculation on that before to know if mining with solar in Nigeria would be profitable or not.
Topic: Probable solutions to mining and electricity palava for Naija (Read 58 times)
Yesterday I was just contemplating within myself about the ban proscribed on cryptocurrency activities in Nigeria and how this decision by the present day government is impeding the growth, awareness and acceptance of cryptocurrency (especially BTC) by the citizens, etc.
Then on the other hand I rhetorically asked myself, assuming that in months or few years from now and the ban on crypto by the government is lifted establishing it's activities and even mining legal, with terms and regulations attached, example; obtaining license especially as it concerns owning a mining rig/farm.
Now my concern is this; for someone like myself with a dream of owning a mining rig or farm ( and am sure there are other Nigerians that would want to own a mining farm too) should the ban on cryptocurrency activities be lifted and made to operate. Under such epileptic power supply situation that we are facing in the country in general how can miners cope, and struggle to meet up with the huge expenses associated with power generation as mining is solely dependent first on steady power generation supply. Next, addition to procurement of other needed mining equipments and at same time being able to meeting up with profit at the end of the day?
So please mates, let's discuss on possible solutions about this ahead of time as we hope to experience a crypto naija of our dream.
Then on the other hand I rhetorically asked myself, assuming that in months or few years from now and the ban on crypto by the government is lifted establishing it's activities and even mining legal, with terms and regulations attached, example; obtaining license especially as it concerns owning a mining rig/farm.
Now my concern is this; for someone like myself with a dream of owning a mining rig or farm ( and am sure there are other Nigerians that would want to own a mining farm too) should the ban on cryptocurrency activities be lifted and made to operate. Under such epileptic power supply situation that we are facing in the country in general how can miners cope, and struggle to meet up with the huge expenses associated with power generation as mining is solely dependent first on steady power generation supply. Next, addition to procurement of other needed mining equipments and at same time being able to meeting up with profit at the end of the day?
So please mates, let's discuss on possible solutions about this ahead of time as we hope to experience a crypto naija of our dream.
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