Topic: The crisis in Kazakhstan. Entering the occupation troops. Impact on the crypto (Read 331 times)

In this topic, we are trying to understand whether the crisis in this country (Kazakhstan), which owns 15% of mining capacity, could lead to a drop in the bitcoin rate, and generally affect the cryptocurrency market. Above are some of the arguments for and against this idea.

This means that one of the problems that caused the price of bitcoin to fall because of the impact of the political war in kazakstan as one of the world's largest bitcoin miners so that the bitcoin ecosystem was disrupted and caused investors to panic.
Is that true.?

With every passing day, I am being reminded of the movie Borat. 

Feels bad for the people from countries such as Russia, Belarus, Turkey, Kazakhstan and Azerbaijan. Those who live in these countries have no real sense of freedom, and are being ruled by dictators. All these countries are resource rich, but the ordinary people are living in extreme poverty, thanks to the loot by these dictators. At this point, I don't know who will replace these people if they are kicked out of power. But anyone would be better than these dictators like Putin, Lukashenko, Erdoğan, Nazarbayev and Aliyev.

No, you are not telling the truth, either not owning the information, or deliberately distorting it.

1. Article 4 of the CSTO clearly regulates the issue in which cases the troops of the participating countries can be involved and arrive on the territory of the participating country. Again, I will quote the original article:
If one of the participating states is subjected to aggression (an armed attack threatening security, stability, territorial integrity and sovereignty), then this will be considered by the participating states as aggression (an armed attack threatening security, stability, territorial integrity and sovereignty) against all states - parties to this Treaty. ". The situation in Kazakhstan is an internal contradiction between citizens and the authorities. The issues were purely economic, and related to freedoms.
2. At the moment, the President of Kazakhstan says that the troops will stay for another 2 weeks. To which the head of the Russian mission declares that the Russian troops will be on the territory of Kazakhstan until they decide that the conflict is settled, but for now they, OCCUPIED, will protect the most important / for Russia / infrastructure facilities. That is, the desire of the president who called them is no longer of interest to anyone - Russia decides how many of its troops will be on the territory of another country !!!

I would say that putting miners in a place with a dictator at the top was a bad decision anyway. I mean even if there were no protests, even if life went on like nothing happened, what would happen if dictator came out and said "we are closing down all miners" like china did?

In most democratic places that's a whole due process that takes years to be put in law, you do not get executive orders in USA about miners, it's for much more serious stuff. All in all that means we are talking about something that is dangerously risky to put all of those equipment in a nation where there is a dictator and if they didn't see this one coming, they could have seen something else coming as long as they knew that it was just purely a dangerous thing.

This is why I have to say that miners are at fault here, they could have taken it to places like Canada or Iceland and both take advantage of the weather, and also the energy subsidaries and build their own solar panel or wind panel systems and got it for free with a great democracy.

I would not agree that it is the same thing, the disintegration of Yugoslavia is something completely different. In addition, Russia has tried to find a peaceful solution to the conflict, while the UK and some other Western European countries have supported Serbia in quelling the insurgency in any way. But even if the Russians came to the aid of their Orthodox brothers by some chance, they would not have had a good time in Croatia, I am sure.

The agreement that the countries of the former Soviet bloc have is something completely normal for me - regardless of the fact that it is now used in this way.

Let's see how long it takes until the Russian armies will go home (at least the visible ones). It is known that the Red Army comes easily "to help out" in a country, but it cannot be convinced too easy to also leave.
However, I expect another Belarus there, not another Ukraine.

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And about the impact on crypto... the hash rate looks good (it didn't actually drop as much as some claimed) and the news of the day tell that the internet is partly restored too.

Yeah, just like the invasion of Hungary or the Prague Spring, they are all covered by treaties to help protect, the ones in power not the country. I wonder if Serbia had used such a treaty to allow Russia to support and invade Croatia to regain control of the country, what would your opinion about it be 




I don't know, why did it take French peasants centuries to start a revolution, why did communist regimes fall after 40 years, it simply a matter of when the glass becomes full, and if you rise fuel pries by 100% while the country is racking billions in gas and oil exports then you have it.
As for superpowers, what is the second superpower in this cold war? I know one is the US but who is the other "superpower"?


If you think that this is a US operation then please explain why the current leader who is backed by Russia is arresting every former high-rank official that is tied to the previous leader, Nazarbayev, who, let me quote:
"created a state on a territory that never had a state ... Kazakhs never had any statehood, he has created it". Guess who I quoted here?
Hint, it starts with Vladimir and it ends with Putin! 

Crypto miners were primarily guided by the fact that electricity is cheap and that the location is close enough to have lower relocation costs. Obviously, no one could have predicted that the political situation would change in such a dramatic way, but it is a risk that always exists.

What has Ukraine got to do with this? The Kazakh government has called on the Collective Security Treaty Organization (CSTO), which is something like NATO, to help it in its efforts to regain control of the country.  It is not about any occupation, but military assistance according to pre-agreed agreements.

In the regional economy, it doesn't look too good. If it turns into years of destabilization (and it very well could), then that will in turn not just halt economic progress, but also reverse it. As for crypto, It could be a small setback, but as crypto has no country of its own, it will just find a new home as it always has. I'm just more worried about the people than I am about crypto. There is nothing wrong with revolution, it is just that it brings about unavoidable deaths. As for crypto miners, there will always be smaller underdeveloped countries that will, for a time being, welcome them with open arms.

That means that country is still influenced by Russia. But why did people start protesting after that long? Why they didn't do that in these 30 years? First middle east now this part. It seems like we are going to see another cold war between two superpowers.

Miners have made a bad decision by moving into this country after china's ban on BTC mining. Internet shut down, more troops are coming from Russia tension is high. Can we see another situation like Ukraine?

Since the independence from the Soviet Union the ruling party is in power. Anything or any party against the ruling party agenda were oppressed. This is the reason behind the protests that has caused the death of 164 people. The real reason for the ongoing violence is the leader. People always look for a change, already the leader is on the throne for about 30+ years. After these many years people expecting for a change is common mentality of any human.

It's so unfortunate to see what's happening in there even more unfortunate to witness, I wonder what people might be thinking, as a matter of fact they might be using cryptocurrencies like bitcoins as an escape, the government is done for and the troops are unnecessary!! Where is the UN when the attention is needed? There would definitely be a huge impact hands down, since the situation is not improving we might see the hash rate going down pretty soon, with the low hash rate, other countries will recover this  soon enough but the what we should be talking about is how the cryptos can help them during the crisis, the cryptos are not controlled by any government, cryptos like bitcoins there in few months, this might be a very important asset for them. Hope things get better with them soon.

It has a huge impact on the world economy since 15% is such a huge percentage but I don't think it would affect crypto that much. It might affect Bitcoin and other altcoins a little but I guess it could still recover fast. The situation of Kazakhstan is getting worse and I hardly believe that the main problem is their leader. I hope that things would get better for them because lots of innocent people are suffering.

I think you have to look at China and what happened when they banned Bitcoin mining to answer your question. The moment when the mainstream media started to distribute the news that China banned Bitcoin, the Bitcoin price dropped significantly ...but it recovered soon after that... because the world saw that a Bitcoin mining ban did not destroy Bitcoin mining.

You should remember that China had most of the hashing power in the world at the time, so the impact was supposed to be devastating. So, Bitcoin mining in Kazakhstan has +/- 15% of all the hashing power in the world.... and that is significantly lower than the hashing power that China had.

My prediction.... The Bitcoin price will take a small drop and it will bounce back.... and the miners in Kazakhstan will probably just move some of their operations to Bitcoin friendly countries. 

For a country that has gained its independence just a few decades ago, sad to see it's not working for them. The government has not established a central intelligence to see this coming. Who benefits from this insurgence to remove the president?  Could it be the US to divide and weaken Russia?

The country is in the middle of Russia and China if these two big superpowers are behind this, they really plotted it well to unite a bigger empire to rule us all. Kazakstan is very important to China and Russia because of thier Silkroad project. And just a day ago I read the news China is sending troops into the country.

What could miners do in Mongolia?
Put some rugs in every home and generate enough static energy for 4 hashes a day?
An s19 burns around 2400kwh a month, the total energy production of Mongolia is 5 Twh, even assuming the best performing gear would make all of the hashrate the entire power production of the entire country could only host 10% of the hashrate.
Kyrgyzstan has 10Twh a year, what could you host there to now affect the normal consumption?


On what tv station or newspaper do you check the oil prices?
Are they from this planet or Mars?

A lot of miners shifted their operations from China to Kazakhstan because of the extremely low electricity prices and the ease of transporting the equipment between the two countries. But now they need to look for additional options. Russia and Kyrgyzstan are countries with similar advantages, but once again both can be described as politically unstable. If the operations are moved to countries such as Mongolia and Vietnam, the bureaucracy and red tape kicks in. In other East Asian nations, the electricity prices and taxes are too high to keep the mining operations profitable. In simple words, the miners are caught between the devil and the deep sea.

This is what I was just thinking when I read about what is going on there.
And all those miners from China moved their equipment there and needing to shut them off due to a struggle for the power to drive these businesses is just another thing upon itself towards the battle of bitcoin hashrate for countries.
Maybe it wasn't a good idea to have the majority of the hashrate designated to one region especially that has a history of upheaval in its own government.
First the internet was shut-off then they cut the power.
https://www.theguardian.com/world/2022/jan/06/kazakhstan-bitcoin-internet-shutdown
https://www.reuters.com/markets/europe/bitcoin-network-power-slumps-kazakhstan-crackdown-hits-crypto-miners-2022-01-06

When a nation has been ruled by just one single person for 30 years and it did not have this much impact, sometimes I question why people wake up so late. I mean this has been a global news type of deal, but they were ruled by a dictator for 30 years. Not that they never had any protests back then neither, they had some, but it never got to this point for some reason. Interestingly, this is good to see because politicians need to realize that there is a limit to their corruption, all over the world.

You can be corrupt and steal as a politician because that is literally what we come to expect from every single politician, which means that if you do it small enough then people will be fine because they expect you to steal money from them when you decide to be politician. Sad situation but it is the reality, however if you go too far then you will have protests like these.