Ukraine looking at Belarus, too, wants to legalize mining and cryptocurrency is certainly good news,but let's see how they want to legalize it
Topic: Ukraine to Legalize Crypto Mining as Economic Activity (Read 493 times)
In Ukraine, the state can not normally provide heat and electricity to its population, what kind of production can we talk about? I live near Odessa and throughout the winter the apartment is cold. Set up a mining farm? So no money is enough to pay for electricity. The government simply decided to pocket the money even with the miners.
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Ukraine is a country in which good beginnings quickly turn into something very bad!) I think their goal is to take the mining out of the shadow, there is nothing more ...
Completely agree with you! And already wrote about it above.
Recently I read that the Belarusian president signed a bill on the fact that activities related to cryptocurrencies will not be taxed in this country.
As far as I know, some people in Ukraine illegally connect to electrical stations and mine crypto and don't care about cost for electricity. It seems to me that making this law they want to attract attention
If it was never illegal, how can it now be legalized? Are they just acknowledging it as a viable method to generate income?
Right now, mining is still profitable if you can get your hands on cards for market price, and pay low rates for electricity. Of course, mining the most profitable coin at the time makes it a lot easier to return your investment, but most people just stick to one currency and leave their machine running, generating a suboptimal ROI.
Yes Mining is profitable and there's no problem with that specially with countries that has Powerplant to lower the electricity consumption. I heard alot of European country are on crypto mining. I'm sure it will be more legalize. ROI are pretty good and it will takes 6months and so on depends on the price of altcoins. Right now, mining is still profitable if you can get your hands on cards for market price, and pay low rates for electricity. Of course, mining the most profitable coin at the time makes it a lot easier to return your investment, but most people just stick to one currency and leave their machine running, generating a suboptimal ROI.
If it was never illegal, how can it now be legalized? Are they just acknowledging it as a viable method to generate income?
Right now, mining is still profitable if you can get your hands on cards for market price, and pay low rates for electricity. Of course, mining the most profitable coin at the time makes it a lot easier to return your investment, but most people just stick to one currency and leave their machine running, generating a suboptimal ROI.
Right now, mining is still profitable if you can get your hands on cards for market price, and pay low rates for electricity. Of course, mining the most profitable coin at the time makes it a lot easier to return your investment, but most people just stick to one currency and leave their machine running, generating a suboptimal ROI.
The latest problem is mining will cause the use of electricity is not controlled. this can be a threat to the state sutau because electricity consumption is a basic requirement.
there should be alternative energy to do the mining, or there is a limit to save electrical energy.
there should be alternative energy to do the mining, or there is a limit to save electrical energy.
Its must be few times before. Thinklegalizing mining its good news but from another way you can saw axpancive price for elecricity. In a middle its 0,08$
Ukraine is a country in which good beginnings quickly turn into something very bad!) I think their goal is to take the mining out of the shadow, there is nothing more ...
How goverment will undestand were are located mining farm? Small farms can be located at home and nobody will pay attantion at aditional 100 Kwt per month. Big farms can be located at plants which requared big amount of electicity
I am from Ukraine. When I'm in a store or restaurant, everyone talks about crypto-currencies and exchanges. If in other countries mining is a hobby (I think so). In my country this can be a money earning. Electricity is often stolen at state-owned factories. Money comes from taxes on this electricity for the mining. Deputies and the director produce crypto. Sorry for the bad english.
Well stealing electricity isn't such a good thing, but the major profit determinant in mining is the cost of electricity, if electricity is cheaply available then it will be profitable, its goodnews that Ukraine has legalized mining
Accounts for electricity began to come simply huge. Very soon for me, mining will cease to be profitable
I am from Ukraine. When I'm in a store or restaurant, everyone talks about crypto-currencies and exchanges. If in other countries mining is a hobby (I think so). In my country this can be a money earning. Electricity is often stolen at state-owned factories. Money comes from taxes on this electricity for the mining. Deputies and the director produce crypto. Sorry for the bad english.
Its must depends few year before but happens only now. I didn't mining now but its realy good news for Ukrainian citizen
I don't really think that mining is profitable. But it doesn't mean that regulation of mining is bad and unnecessary. It's a very good sign. Ukraine has potential to become the crypto capital of the world 
you are right if the view is indeed less profitable, but in fact, this should be developed by poor and developing countries in order to be a solution of poverty and social inequality in the country... 
I think this is great news. This will make the crypto currency even more popular. I am glad that many CIS countries are on the right track. Perhaps the government does this step in order to improve the life of its people. But to be honest Ukraine has very strange politicians.
I can not say that this is wonderful, but on the other hand I do not like the situation with the fact that many countries are very critical of crypto-currencies. It seems to me that the legalization of cryptomayning is good news
Legalizing mining can really save economy they might have to also adopt the use of coins in buying commodities for the people after all, they allow people to earn coins via mining. Through allowing their local stores to accept coins will really make their lives easier and just maybe some institutions will be in their cities allowing people to buy coins and tokens over their fiat.
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