Welcome to BeerMoneyForum.com - We Help Each Other to Make Money Online

Join us now to get access to all our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, and so, so much more. It's also quick and totally free, so what are you waiting for?
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

❓ASK Bitcoin and Crypto mining could add billions to Iran's economy

NoLimits15

Gold Member
LV
0
 
Joined
Jan 5, 2020
Messages
432
Reaction score
31
Points
35
Age
24
Location
Bangladesh
BMF Points
82,776
Rating - 0%
0   0   0
I was reading an article where it said Iran had set up large mining facilites in the hopes of boosting it's economy one day. If anyone wants to get started with crypto mining, they need an official license from the government. They've already given out around 1000 licenses. It's nice to see Iran taking this initiative..
 

KarthikP

Sapphire Member
LV
1
 
Joined
Jul 29, 2019
Messages
8,414
Reaction score
723
Points
200
Awards
7
Location
India
BMF Points
10
Rating - 100%
10   0   1
Well then , I hope even other countries specially in Asia and Europe also decide to make Bitcoin mining legal , till then I don't see any benefits from mining bitcoins.
 

Emoney

Sapphire Member
LV
0
 
Joined
Sep 16, 2018
Messages
6,952
Reaction score
252
Points
170
Awards
3
BMF Points
216,533
Rating - 100%
3   0   0
Well then , I hope even other countries specially in Asia and Europe also decide to make Bitcoin mining legal , till then I don't see any benefits from mining bitcoins.

You won't get any benefit from bitcoin mining even if your government legalize it. In order for bitcoin mining to be profitable, there are several factors to consider - mainly: your electricity price, the mining difficulty and the price per coin itself. It's not about government regulation since bitcoin is decentralized to begin with.
 

KarthikP

Sapphire Member
LV
1
 
Joined
Jul 29, 2019
Messages
8,414
Reaction score
723
Points
200
Awards
7
Location
India
BMF Points
10
Rating - 100%
10   0   1
You won't get any benefit from bitcoin mining even if your government legalize it. In order for bitcoin mining to be profitable, there are several factors to consider - mainly: your electricity price, the mining difficulty and the price per coin itself. It's not about government regulation since bitcoin is decentralized to begin with.
But still , Bitcoin mining is banned in some countries , and yeah the cost of electricity is high and even maintainance costs makes Bitcoin mining not much profitable overall
 

Bilalgul

Gold Member
LV
0
 
Joined
Sep 4, 2019
Messages
401
Reaction score
8
Points
0
BMF Points
50
Rating - 0%
0   0   0
Not just for Iran it is open for any country of the world and that is the beauty of bitcoin if any country uses it they can boast their economy new heights
 

Mbwolf

Platinum Member
LV
0
 
Joined
Sep 12, 2017
Messages
979
Reaction score
49
Points
35
Age
21
Location
Algeria
BMF Points
1,311
Rating - 0%
0   0   0
as we all see Iran is a smar country with a smart rulers the biggest problem for them is their problems with united states so I guess those projects are not gonna last
 

Brain

Sapphire Member
LV
0
 
Joined
Dec 27, 2018
Messages
7,779
Reaction score
105
Points
150
Awards
1
Location
Nigeria
BMF Points
3,894
Rating - 0%
0   0   0
Good for iran and also for their economy if the middle will help boost their economy. I'm always for currencies that help boost any nation's economy to reduce poverty level.
 

kaleembilal

Silver Member
LV
0
 
Joined
Apr 23, 2020
Messages
120
Reaction score
6
Points
0
BMF Points
647
Rating - 0%
0   0   0
I think that it is a huge step and also a very good one too and I think that all the other developing and also the under developed countries should follow this
 

Josemendez

Ruby Member
LV
0
 
Joined
Apr 8, 2019
Messages
10,768
Reaction score
262
Points
170
Awards
1
BMF Points
10
Rating - 0%
0   0   0
This is good but then i hope they have plans towards sustaining the high demand for electricity usage that comes with mining ? , This is the major problem with legalizing mini
 

Brain

Sapphire Member
LV
0
 
Joined
Dec 27, 2018
Messages
7,779
Reaction score
105
Points
150
Awards
1
Location
Nigeria
BMF Points
3,894
Rating - 0%
0   0   0
I was reading an article where it said Iran had set up large mining facilites in the hopes of boosting it's economy one day. If anyone wants to get started with crypto mining, they need an official license from the government. They've already given out around 1000 licenses. It's nice to see Iran taking this initiative..
It isn't a bad idea since it will boost an economy. I think it will do same for my Nigeria economy if the government will look into this direction
 

Rollerkid

Sapphire Member
LV
0
 
Joined
Apr 29, 2020
Messages
7,031
Reaction score
88
Points
135
Awards
3
BMF Points
32,458
Rating - 0%
0   1   0
I was reading an article where it said Iran had set up large mining facilites in the hopes of boosting it's economy one day. If anyone wants to get started with crypto mining, they need an official license from the government. They've already given out around 1000 licenses. It's nice to see Iran taking this initiative..
Well, this decision may tend to be a very good move Iran might have taken which can really boost their economy in the future. But this may be successful if the government can subsidies the cost involved in mining bitcoin so that the citizens will really mined a lot.
 

Niftyicon

Sapphire Member
LV
0
 
Joined
Jul 17, 2020
Messages
7,505
Reaction score
112
Points
150
Awards
1
BMF Points
54,025
Rating - 0%
0   0   0
Well, this decision may tend to be a very good move Iran might have taken which can really boost their economy in the future. But this may be successful if the government can subsidies the cost involved in mining bitcoin so that the citizens will really mined a lot.
I am guessing that since they took the trouble to put those mining facilities in place, they also would have thought of the cost involved and should have taken steps towards subsidizing.
 

Josemendez

Ruby Member
LV
0
 
Joined
Apr 8, 2019
Messages
10,768
Reaction score
262
Points
170
Awards
1
BMF Points
10
Rating - 0%
0   0   0
It isn't a bad idea since it will boost an economy. I think it will do same for my Nigeria economy if the government will look into this direction
I doubt this. Nigeria is fighting to have a stable electricity. Mining is very demanding in terms of electricity usage . If this can happen they need to work on their electricity first.
 

Wisdom01

Ruby Member
LV
0
 
Joined
Jun 21, 2020
Messages
16,351
Reaction score
120
Points
150
Awards
1
BMF Points
5,497
Rating - 100%
1   0   0
Well this is cool i already know mining contributes to the country's economy , same with bitcoin and gold , it's good they are taking this steps
 

AudraMiller

Sapphire Member
LV
0
 
Joined
Sep 24, 2020
Messages
7,396
Reaction score
132
Points
150
Awards
1
BMF Points
338
Rating - 100%
1   0   0
I was reading an article where it said Iran had set up large mining facilites in the hopes of boosting it's economy one day. If anyone wants to get started with crypto mining, they need an official license from the government. They've already given out around 1000 licenses. It's nice to see Iran taking this initiative..
Wow it is great to see such an initiative in the mining sector and such a great way to also promote the use of crypto within the country. I think that to a certain extent, the purpose of those licenses is more as a tax purpose. It gives the government knowledge of who is mining and can possibly ta their earnings which is a great way to bring in extra income to the governemnt as well.
 

Wisdom01

Ruby Member
LV
0
 
Joined
Jun 21, 2020
Messages
16,351
Reaction score
120
Points
150
Awards
1
BMF Points
5,497
Rating - 100%
1   0   0
Yeah most times this serve as revenue generation for the government and if more people gets more mining licenses the more cash the government makes that's just it
 

AudraMiller

Sapphire Member
LV
0
 
Joined
Sep 24, 2020
Messages
7,396
Reaction score
132
Points
150
Awards
1
BMF Points
338
Rating - 100%
1   0   0
Yeah most times this serve as revenue generation for the government and if more people gets more mining licenses the more cash the government makes that's just it
Exactly! and i think that if other countries see the benefit that these mining licenses have brought to this government, they may also think along the same lines as well and try to create these mining rigs within their country too, which will be the best thing to do for economic recovery.
 

Brain

Sapphire Member
LV
0
 
Joined
Dec 27, 2018
Messages
7,779
Reaction score
105
Points
150
Awards
1
Location
Nigeria
BMF Points
3,894
Rating - 0%
0   0   0
I doubt this. Nigeria is fighting to have a stable electricity. Mining is very demanding in terms of electricity usage . If this can happen they need to work on their electricity first.
You are right, mining is very difficult to carry out here because of the erratic light issue we are experiencing. So for mining to happen here effective light must be put in place
 

REWARDS: Active Raffles


  • Roll 28: Win 100,000 BMF Points!

    The entry period for this raffle ends in..

Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.