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[Balint098]

As per Coindesk, Kazakhstan is preparing itself to becoming one of major player in the mining industry. Supported by cheap electricity and the government support on crypto, the mining facility is located in Ekibastuz, near Russia. If operated at full power with Bitmain's AntMiner S19 series or MicroBT's WhatsMiner M30, the facility will be able to generate output of about 5-6 EH/s, or about 4% of Bitcoin's current total hashrate. The construction for the facility began in August 2019, costing more than $23 million to build. The facility will employs about 160 people to operate and maintain the facility.

 

[Reznov]

50.000 damn rigs is something that will probably generate something more than decent each day, is there any chance for normal individuals to be able to invest in these?

 

[Balint098]

50.000 damn rigs is something that will probably generate something more than decent each day, is there any chance for normal individuals to be able to invest in these?

Maybe not, though maybe I'm mistaken. No news regarding whether or not they will rent out their mining rigs as cloud mining services or not.

 

[Josemendez]

As per Coindesk, Kazakhstan is preparing itself to becoming one of major player in the mining industry. Supported by cheap electricity and the government support on crypto, the mining facility is located in Ekibastuz, near Russia. If operated at full power with Bitmain's AntMiner S19 series or MicroBT's WhatsMiner M30, the facility will be able to generate output of about 5-6 EH/s, or about 4% of Bitcoin's current total hashrate. The construction for the facility began in August 2019, costing more than $23 million to build. The facility will employs about 160 people to operate and maintain the facility.

This is a good news for Kazakhstan cryptocurrency lovers especially the fact that the government welcomes cryptocurrency and the availability of cheap electricity . This will make the environment comfortable for miners

 

[Wisdom01]

This is really good they are really creating employment opportunities through this means and i know that after putting things in place they might earn a lot

 

[bitforex22]

Great to see countries like them loving crypto and actually facilitating its growth we can certainly achieve our targets with this progress in cryoto sector it has definite positive impact on markets

 

[wilsnico]

I wish them every success, but mostly when a government of a country is interested in something this is not so good for the ordinary citizen.
Most of the time, these government interest end up with : control, centralisation, and taxes.

 

[Josemendez]

I wish them every success, but mostly when a government of a country is interested in something this is not so good for the ordinary citizen.
Most of the time, these government interest end up with : control, centralisation, and taxes.

Ofcourse these things will come , no government engages into something they won't benefit from , however citizens will benefit too

 

[wilsnico]

Ofcourse these things will come , no government engages into something they won't benefit from , however citizens will benefit too

So if these things will come and it ends up like Fiat money, why are you so happy and why would the ordinary citizen benefit when it's the same and when they're not having anything now ?

 

[Sincere66]

As per Coindesk, Kazakhstan is preparing itself to becoming one of major player in the mining industry. Supported by cheap electricity and the government support on crypto, the mining facility is located in Ekibastuz, near Russia. If operated at full power with Bitmain's AntMiner S19 series or MicroBT's WhatsMiner M30, the facility will be able to generate output of about 5-6 EH/s, or about 4% of Bitcoin's current total hashrate. The construction for the facility began in August 2019, costing more than $23 million to build. The facility will employs about 160 people to operate and maintain the facility.

This mining facility will be a plus in boosting their economy overall. Since the government are in full support of their work and develop such kind of mining hardware.

 

[Josemendez]

So if these things will come and it ends up like Fiat money, why are you so happy and why would the ordinary citizen benefit when it's the same and when they're not having anything now ?

When there is free electricity for Mining ,the cost of Mining will be reduced for miners ,and thus they will sell at cheaper rate ,which will make people buy at cheaper rate.

 

[Sincere66]

When there is free electricity for Mining ,the cost of Mining will be reduced for miners ,and thus they will sell at cheaper rate ,which will make people buy at cheaper rate.

That's cool, that shows that electricity plays a vital role, ensuring that Bitcoin and other Cryptocurrency mining goes as planned.

 

[wilsnico]

When there is free electricity for Mining ,the cost of Mining will be reduced for miners ,and thus they will sell at cheaper rate ,which will make people buy at cheaper rate.

I disagree!
As reported in a post, they already have 4% of the total mining power and how much more % they will have in the future.
This is exactly what should not happen!
The system must be decentralised and not in the hands of some large hardware giants who will then erange the prices !
In connection with buying cheaper, this is a beautiful dream and something cryptofanatics don't want (with cryptofanatics, I don't mean those losers who use their days to earn free crypto money through faucets or other...).
Also crypto money is not invented for the poor .... .
I have been mining with free solar energy for some time and can assure you that I will never pass this free electricity to those who want to buy my crypto.
That free electricity is my profit and goes into my wallet.
Why would those big mining farms think otherwise ?
I do not even talk about the governments that are currently asking very little, but what's not going to last.

 

[Josemendez]

That's cool, that shows that electricity plays a vital role, ensuring that Bitcoin and other Cryptocurrency mining goes as planned.

Yeah. Mining demands high power consumption and thus a major challenge to miners , by making it free ,it will help miners to be able to mine at cheaper rate.

 

[Sincere66]

Yeah. Mining demands high power consumption and thus a major challenge to miners , by making it free ,it will help miners to be able to mine at cheaper rate.

Yes, making electricity constant and free for use. Can boost the making at a larger quantity. And the transaction fees will decrease also.

 

[wilsnico]

Yeah. Mining demands high power consumption and thus a major challenge to miners , by making it free ,it will help miners to be able to mine at cheaper rate.

Free energy doesn't exist!
Do you think those wind turbines and solar panels are free?
I can already tell you that my solar panels were pretty expensive and that they are not even high power panels but just standard panels.
Then there is the maintenance of the so-called free energy system, which costs also a lot off money.
Even though they have free electricity (which does not exist), they will charge energy costs to their customers.
Then there is also the fact that you will never own a miner in their facility, but just someone who rents the hardware at a high price. (they must make a lot of profit to buy new equipment and maintain it)

 

[wilsnico]

Yes, making electricity constant and free for use. Can boost the making at a larger quantity. And the transaction fees will decrease also.

Wrong again!
Fee's are not calculated on the amount of energy costs.
One can do mining without any problems with loss.
I believe that the bitcoin should be at least 14000 dollars to sell the bitcoin you have obtained with profit.
The more the network is charged and the longer the queue of transactions that need to be checked, the higher the fee's.
If you want your bitcoin on your wallet faster, you will have to pay more fee than the rest.
Stop watching fantasy movies !
Free energy does not exist and will never exist!
The energy supply and stocking material costs to much money.
Do you think a device that consumes at least 5,000 watts can run on a cell phone battery made of lithium? (This is only one device. There are thousands of such equipment there.)

 

[wilsnico]

good news for kazakhistan

When the government start giving them cheap or free energy, bad news for the people !
Someone has to pay. (and it's never the rich who pay a lot of taxes ! See how little Trump had to pay.)

 

[Sincere66]

Wrong again!
Fee's are not calculated on the amount of energy costs.
One can do mining without any problems with loss.
I believe that the bitcoin should be at least 14000 dollars to sell the bitcoin you have obtained with profit.
The more the network is charged and the longer the queue of transactions that need to be checked, the higher the fee's.
If you want your bitcoin on your wallet faster, you will have to pay more fee than the rest.
Stop watching fantasy movies !
Free energy does not exist and will never exist!
The energy supply and stocking material costs to much money.
Do you think a device that consumes at least 5,000 watts can run on a cell phone battery made of lithium? (This is only one device. There are thousands of such equipment there.)

Thanks for the correction, you made me know that free energy doesn't exist and can never exist. It doesn't boost the making of BTC nor reduce the transaction fees. For faster transaction one need to pay higher charges to execute it faster.

 

[Josemendez]

Free energy doesn't exist!
Do you think those wind turbines and solar panels are free?
I can already tell you that my solar panels were pretty expensive and that they are not even high power panels but just standard panels.
Then there is the maintenance of the so-called free energy system, which costs also a lot off money.
Even though they have free electricity (which does not exist), they will charge energy costs to their customers.
Then there is also the fact that you will never own a miner in their facility, but just someone who rents the hardware at a high price. (they must make a lot of profit to buy new equipment and maintain it)

Government of a country can offer free electricity for their citizens ,the taxes collected from them can make them afford the free electricity . As for your solar panel , you choose it yourself and should be ready to take care of it