Topic: Russia would ban miners from receiving rewards in bitcoins and cryptocurrencies (Read 837 times)
April 25, 2021, 02:05:21 PM
I think that until you have declared income from cryptocurrency and made it clear to the tax authorities that you are generally connected with this, no one will ever get to you until you transfer regular large transactions on bank accounts associated directly with you. Until then, you are invisible and no one will ever knock on your door. As if you had a farm at home and paid for electricity regularly and on time - the same thing, they will never come to you. They come only to those who have high consumption and he does not pay for it.
April 24, 2021, 04:56:11 PM
I think that the situation with the raised problems, both with taxes and inspection bodies, is different in different regions of Russia. Somewhere it is perfectly fine to do business and there are no such problems as described above, in other regions the situation may be much worse. I have many friends in different regions of the country and they all faced these problems in one way or another but solved them without bribes. As for the law, I think soon the mining of cryptocurrency by small forces in apartments or houses will be inappropriate both in terms of costs and results. Especially if the price drops.
What are the regions with such opportunities?When they talk about bribes in Russia, everything has long been legalized.
If you rent space in a shopping center, then you pay the rental amount, which already includes administrative costs. You will also have to sign contracts for security and possibly insurance services. Otherwise, they will not sign a lease with you.
A check comes to you, which monitors compliance with fire safety standards, checks sanitary standards, etc.
They will not extort bribes from you, but they will recommend that you apply for services to a certain company to solve these problems.
If you conclude a government contract, then your customer will ask you to purchase goods from a specific company at specific prices.
The list is endless.
April 20, 2021, 02:05:16 PM
I think that the situation with the raised problems, both with taxes and inspection bodies, is different in different regions of Russia. Somewhere it is perfectly fine to do business and there are no such problems as described above, in other regions the situation may be much worse. I have many friends in different regions of the country and they all faced these problems in one way or another but solved them without bribes. As for the law, I think soon the mining of cryptocurrency by small forces in apartments or houses will be inappropriate both in terms of costs and results. Especially if the price drops.
April 14, 2021, 04:45:44 PM
I think that giving bribes and taking such steps just for the sake of tax evasion is wrong and even a little silly. Do not be offended, but it works like this: if you once went to such a dubious deal with the tax or law enforcement agencies, you fell into a vicious circle. Next month, the same people will come to you again and will already demand the same deal from you. (I remind you that this is illegal and the consequence may be criminal prosecution) There is a big doubt that it is justified to take such a risk for the sake of greed.
Business in Russia does not work without bribes. If you have a small store, you will pay fire inspectors, inspectors from the Sanitary and Epidemiological Service, you will give discounts to the local police. If you have a larger business, then you will pay the heads of these organizations.If you do not do this, then a commission of auditors will come to you, which will close your business.
If you work in a market or a shopping center, then these costs are included in the contract
The further you are from Moscow, the more arbitrariness from local officials.
And taxes are a big and separate topic in Russia. Big business tries to optimize in various legal ways or not entirely legal ones. Small business .. if interested, I will write
April 14, 2021, 02:37:39 PM
In my opinion, it is still everyone's choice of how to behave with the authorities and tax authorities. But obviously it's best to avoid legal problems wherever you work. I would also like to correct the above that the tax systems and corruption in the Russian Federation and Ukraine are comparable. I am sure that this is not so - yes, corruption is a phenomenon that exists in every country - somewhere more, somewhere less, but putting these two countries on the same anti-rating shelf is incorrect, but I could be wrong.
April 14, 2021, 12:20:54 PM
The intention to modify the recently approved law is contradictory since cryptocurrency mining is sustained precisely by the incentives that miners receive as a return on their investment. If the direct payment of incentives is prohibited, an uncertainty is created since it is unknown what would be the mechanism to compensate for the work carried out to maintain the network.
It is amazing the contortions that authoritarian governments will go to in order to ban certain activities without actually banning them. Just so that they can preach in the news "we are open to supporting cryptocurrencies and their development". What they are effectively doing is nationalizing all bitcoin mining operations by preventing miners from earning any profit - which will force them to either abandon the activity (to be replaced by "friends" who get to use the cheap energy) or pay any profits from mining directly to government controlled wallets. As always, it is a rather sly and indirect way of stealing the hard work that enterprising business people in Russia have built up over time in order to help plug the massive holes in GDP. Just because they've seen a massive amount of easy money up for grabs from these in-country cryptocurrency operations. You can bet that any attempts to move the mining equipment out of the country would get stopped at customs and probably charged exorbitant fees or just seized outright.
April 14, 2021, 07:20:53 AM
I think that giving bribes and taking such steps just for the sake of tax evasion is wrong and even a little silly. Do not be offended, but it works like this: if you once went to such a dubious deal with the tax or law enforcement agencies, you fell into a vicious circle. Next month, the same people will come to you again and will already demand the same deal from you. (I remind you that this is illegal and the consequence may be criminal prosecution) There is a big doubt that it is justified to take such a risk for the sake of greed.
Zasad wasn't talking about evading taxes. He was talking about paying the bribes along with the taxes. From what I have heard, tax rate in Russia is quite low (10% to 20%). So taking out another 10% to 20% for bribes will still leave you with enough money in your pocket. Obviously it can become a vicious circle. But in countries such as Russia and Ukraine, entrepreneurs have hardly any choice, I believe. Corruption runs deep, involving the most powerful people.
April 13, 2021, 02:08:22 PM
I think that giving bribes and taking such steps just for the sake of tax evasion is wrong and even a little silly. Do not be offended, but it works like this: if you once went to such a dubious deal with the tax or law enforcement agencies, you fell into a vicious circle. Next month, the same people will come to you again and will already demand the same deal from you. (I remind you that this is illegal and the consequence may be criminal prosecution) There is a big doubt that it is justified to take such a risk for the sake of greed.
April 13, 2021, 11:21:25 AM
Solving problems in court is much more expensive.
Better to work quietly and share with the right officials and controllers. This is how everything works in Russia.
I saw the news when mining plants were confiscated that were illegally connected to power grids. But these are isolated cases.
Better to work quietly and share with the right officials and controllers. This is how everything works in Russia.
I saw the news when mining plants were confiscated that were illegally connected to power grids. But these are isolated cases.
A friend from the former USSR once told me that only those who are from that region will understand how the things work there. I guess he is right. The former Soviet Union is a world apart and what you said may be right. The tax levels are quite low, from what I have heard. So sharing another 20% of so with some of the corrupt officials won't leave you with a hole in your pocket. But the question is how to identify the "right officials and controllers" as you have stated. Again, being someone who have never travelled to that region, I am at a loss to understand how this works.
April 13, 2021, 09:22:27 AM
Solving problems in court is much more expensive.
Better to work quietly and share with the right officials and controllers. This is how everything works in Russia.
I saw the news when mining plants were confiscated that were illegally connected to power grids. But these are isolated cases.
Better to work quietly and share with the right officials and controllers. This is how everything works in Russia.
I saw the news when mining plants were confiscated that were illegally connected to power grids. But these are isolated cases.
April 12, 2021, 02:15:40 PM
Although the news is old, I'll tell you what: I personally know many of those people who are engaged in mining and none of them stopped or even thought about the consequences. Considering the price shown by bitcoin, this is not a problem at all. Yes, and I have not seen such court cases - but they would be talked about. So we extract calmly and do not think about the bad. There is not even a legal basis for prosecution, let alone condemnation. So these are all just words without the law, they don't work
April 11, 2021, 03:14:20 PM
May is coming soon, and the declaration of cryptocurrency in Russia is not mandatory for all citizens. With mining on big mining farms, nothing has changed. Meigners pay bribes, so no one checks them.
The situation is positive, you can sell cryptocurrency and declare income at a rate of 4 to 13%, and indicate the type of activity IT services.
But people are in no hurry to declare cryptocurrency, because there are a lot of incomprehensible points in the laws.
The situation is positive, you can sell cryptocurrency and declare income at a rate of 4 to 13%, and indicate the type of activity IT services.
But people are in no hurry to declare cryptocurrency, because there are a lot of incomprehensible points in the laws.
March 04, 2021, 03:38:38 PM
The month of March has already come and the topic has not moved off the ground. This means that they decided to drag out the discussion and collect more opinions in the expert community, which in Russia is not very big. This means that the law can still receive a new impulse, be supplemented with new proposals and change in terms of taxes and their values in percent, and so on. There is no need to rush to conclusions, because this is a very important law.
March 03, 2021, 02:24:25 PM
This is the whole point of governments in any country. They try to subjugate, tax, or destroy everything they cannot reach by other means. The process is different in different countries, but sometimes one gets the impression that individual countries are deliberately "shooting themselves in the foot" with stupid restrictive measures, which in the end will only lead to the fact that "digital capital" will simply flow to another country.
March 01, 2021, 11:21:04 AM
I am not arguing with you.
That post about the Irkutsk region, I talked about buying a house for mining as a business.
In this post,, I said that mining as an opportunity for good additional income for Russians. Now in Russia there is a very difficult situation, many people have lost their jobs, so mining for them is the only way to make money.
For $ 10 a day in russia, you can get along.
That post about the Irkutsk region, I talked about buying a house for mining as a business.
In this post,, I said that mining as an opportunity for good additional income for Russians. Now in Russia there is a very difficult situation, many people have lost their jobs, so mining for them is the only way to make money.
For $ 10 a day in russia, you can get along.
March 01, 2021, 10:11:32 AM
If the equipment is in the house or apartment where you live, then this is home mining. If the equipment is in a different location, then this is not home mining.
Seriously, what are you trying to prove here?
Reall, what's your point? What's your aim in this discussion?
Are you just trying to contradict people just for the sake of showing others you know more? Cause you're not really showing it!
Do I have to remind you where the discussion started?
It started here:
Home miners as in a guy running his farm in his apartment has been killed by Bitmain and Cannan a long time ago.
I read the miners forum. In Russia, the cheapest electricity is in the Irkutsk region ($ 0.020).Every citizen can buy a piece of land to build a house. The maximum consumption limit is 30 Kilowatts / hour per home. You can buy several plots of land. These cottage villages are built specifically for mining, people do not live there and the noise does not bother anyone.
I'm dead serious, what's your aim in this discussion, and why are you even arguing with me when you can't remember what you have said few two days ago?
March 01, 2021, 09:07:40 AM
If the equipment is in the house or apartment where you live, then this is home mining. If the equipment is in a different location, then this is not home mining.
In Russia, the average salary in non-large cities is $ 300-400 per month. I will assume that 4-5 video cards allow you to get a monthly salary. Therefore, whoever has video cards will use any opportunity to make money.
In Russia, the average salary in non-large cities is $ 300-400 per month. I will assume that 4-5 video cards allow you to get a monthly salary. Therefore, whoever has video cards will use any opportunity to make money.
March 01, 2021, 04:48:53 AM
So a house can have a 30 kW connection, that "hour" you added was what caused the confusion.
The confusion starts from the fact that houses don't have kW connections
It is either at 110V or 230V and since this is Russia, it's probably 230.
So if your house is on the average flat that all of Eastern Europe has built during the '60-'90 period and in which 70% of the population live, you're most likely to have a 230V connection that goes to a maybe at best 25A-30A breaker, at this means everything over 7000W will leave you in the dark, and once more I want to bold the part of "home" miner.
Once you start with wiring, special permits, talking to your electric company to modify circuits, that's no longer home mining!
Yes you can enter a better deal, yes you can modify things, but when I entered the discussion this was about home mining, not what you can do if you want to grease your ways into mining.
February 28, 2021, 03:41:27 PM
This kind of business is booming all over the world today and therefore the interest of the inspection authorities has grown again. This is normal. I am sure that most of the community of mining dummies and others did not even pay attention to this news. Why should they now curtail or somehow adapt to the legislation? These laws are often written by people far from the industry and do not understand the essence of their own decisions.
February 27, 2021, 05:47:58 AM
//
So a house can have a 30 kW connection, that "hour" you added was what caused the confusion. 30 kW * 24 h * 30 d = 21600 kWh. If the cottages are cheap that could make sense, that's 6x S19 Pro per cottage, or about $5k per month at $0.02 / kWh at current price and difficulty levels.
It is beneficial for energy companies to cooperate with such clients, because miners pay for services on time and do not steal electricity. Miners don't need extra checks.But this business has risks. The enforcement structure can come with a check at any time and seize the equipment if your partners do not agree on the amount of the bribe.
But also your partners can deceive you. They can ask the enforcement structure to seize the equipment and you will lose money, and then they will mine on your equipment yourself.
This is roughly how business works in Russia.
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