Uzbekistan to Legalize Bitcoin and Support Developers

jseverson

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Quote from: mk4 on February 25, 2018, 10:54:12 PM

Fortunately for the Russians, mining has been already been legal there, though I didn't know about Russia being a leading producer of electricity. Might be really profitable to mine there, but I have no idea on how much do they have to pay for the taxes(if they do pay taxes).

Wait, no. I meant Uzbekistan lol. Sorry if that was unclear, I should have snipped the quote. I'd rather not comment on Russia, but all the fence sitting around cryptocurrencies in general just makes me believe they'd rather take the China route. I'd love to be proven wrong though!

xieqieshangu9

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Former uzbek central bank officials have expressed a negative view of the digital currency, saying they see it as a way to fund terrorism.

Now many countries are open to digital currency, which has a positive effect on the whole market!

More and more countries are beginning to accept digital money!

virendarnagpal

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Definitely it is good news. Though it may be small country but still something added to bitcoin family. Small small drops of water make a sea. After seeing gains of bitcoin legalization by some countries ; some more countries may think of legalizing bitcoin also to take gains of it as experimented by countries like Uzbekistan.
And if Uzbekistan succeeds mining more and more bitcoin in the country; other countries will also be motivated to produce more and more cheaper electricity so that they can also do mining activities. Other countries will be motivated to produce cheaper electricity by diverting to renewable sources like sun; wind energy etc enabling their citizens to engage in mining bitcoin with cheaper electricity

Payapa

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Hopefully the legalization of bitcoin/ crypto on their country would help their economy in some way. Nevertheless, it's still a good news in the community.

Borders are expanding, and it's closer to being a legalized global thing.

UAE Seasider

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Helios Protocol https://discord.gg/cpzAEMB

I don't think it will have any real immediate effect on the Bitcoin prices, as in financial terms they are a very small country. However any country taking favourable steps to support Bitcoin usage and development, can only be good for the long term.

mk4

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📟 t3rminal.xyz

Quote from: jseverson on February 25, 2018, 10:47:32 PM

Quote from: mk4 on February 25, 2018, 10:39:08 PM

Uzbekistan. Not a major powerhouse country, but positive news nonetheless. Hopefully there would be more legalization from bigger countries like Russia(probably and hopefully not far, as Vladimir Putin was said to endorsed blockchain technology recently[1]), etc.

[1] http://bitcoinist.com/vladimir-putin-endorses-blockchain-russia/

They could serve as a miner haven though, as they're one of the leading producers of electricity in the world. They're the third cheapest country to mine Bitcoin in too, apparently. I hope they can lure miners out of China's Great Firewall; I'm sure they would appreciate more stable leadership (in terms of regulations, at least).

Fortunately for the Russians, mining has been already been legal there, though I didn't know about Russia being a leading producer of electricity. Might be really profitable to mine there, but I have no idea on how much do they have to pay for the taxes(if they do pay taxes).

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: mk4 on February 25, 2018, 10:39:08 PM

Uzbekistan. Not a major powerhouse country, but positive news nonetheless. Hopefully there would be more legalization from bigger countries like Russia(probably and hopefully not far, as Vladimir Putin was said to endorsed blockchain technology recently[1]), etc.

[1] http://bitcoinist.com/vladimir-putin-endorses-blockchain-russia/

They could serve as a miner haven though, as they're one of the leading producers of electricity in the world. They're the third cheapest country to mine Bitcoin in too, apparently. I hope they can lure miners out of China's Great Firewall; I'm sure they would appreciate more stable leadership (in terms of regulations, at least).

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

Uzbekistan. Not a major powerhouse country, but positive news nonetheless. Hopefully there would be more legalization from bigger countries like Russia(probably and hopefully not far, as Vladimir Putin was said to endorsed blockchain technology recently[1]), etc.

[1] http://bitcoinist.com/vladimir-putin-endorses-blockchain-russia/

Viellefox1025

newbie

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More good news with regards to Bitcoin. This kind of news will have an direct effect on Prices.What do you think?

Please reed the article: https://news.bitcoin.com/uzbekistan-legalize-bitcoin-support-developers/

Topic: Uzbekistan to Legalize Bitcoin and Support Developers (Read 160 times)