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

NoLimits15

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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 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.
 
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.
 
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
 
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
 
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
 
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.
 
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
 
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
 
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
 
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.
 
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.
 
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.
 
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
 
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.
 
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
 
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.
 
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
 

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