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[NoLimits15]

The Iranian government had given permission to mine bitcoin using the help of three of their high-level power plants. A new law that was passed in July allowed the use of energy from power plants to be used for bitcoin mining. The power plants will provide power using natural gas instead of gas oil as it is way cheaper. Iran has viewed bitcoin mining a major source of income for the country.

 

[Niftyicon]

That is quite an impressive stride coming from the Iran government. I love how all things are being put in place for the mining activities in the country. To be honest, this is really going to help their economy more.

 

[SCAMEXPOSER]

Mining will generate revenue for the country , the more they provide enabling environment the more miners and the taxes will be , Iranian government is been proactive.

 

[highspeed]

I do not exclude at all that this, by the Iranian state could be achieved. Furthermore, using alternative energy sources would be an excellent factor in favor of the environment.
Greetings.

 

[Simdan]

Its

 

[Simdan]

It's really a good move by the Iranian government, especially during this period of global economy distortion caused by the pandemic.

 

[Josemendez]

The Iranian government had given permission to mine bitcoin using the help of three of their high-level power plants. A new law that was passed in July allowed the use of energy from power plants to be used for bitcoin mining. The power plants will provide power using natural gas instead of gas oil as it is way cheaper. Iran has viewed bitcoin mining a major source of income for the country.

Wow. This will increase the internal generated revenue for Iran and little cost since they will be using a natural source of energy for the mining activity .

 

[SCAMEXPOSER]

Every country just need to begin strategies on how best they can mobilize revenue, if cheap electricity is available just like Iran and Venezuela , allowing license mining is a greater advantage to them.

 

[Josemendez]

Every country just need to begin strategies on how best they can mobilize revenue, if cheap electricity is available just like Iran and Venezuela , allowing license mining is a greater advantage to them.

Cheap electricity will cease to be cheap when there is too much demand from electricity due to mining. I think the best way is to work on developing natural sources for power generation

 

[Wisdom01]

Kudos to the government for doing this , atleast they can see that this will contributes to the economy at large , and every others sector will be developed

 

[jrcarranzacr]

If a country accepts the use to mine cryptocurrencies, how can it collect taxes from it?

 

[magnus2022]

Initially, Iran government stood against bitcoin mining and make it illegal. Maybe after serious deliberation, they have decided to allow the sleeping dog lie. I believe the government is finding it increasingly difficult to monitor and clap on illegal crypto mining. Equally, they have discovered that there is no need to waste their natural gas through flaring. That is better to use it to generate money through bitcoin. Secondly, that it will attract investors especially from china to bring in their fund into their economy.

 

[Ben Kempton]

Kudos to the government for doing this , atleast they can see that this will contributes to the economy at large , and every others sector will be developed

Iran is very rich country and it has many natural resources. It has oil and gas reserves. If it wants, it could create many mining facilities in the country and the country could benefit a lot from such projects. However, I think that all this would certainly need some sort of planning as well because creating many projects might not be that easy for the government.

 

[Wisdom01]

Iran is very rich country and it has many natural resources. It has oil and gas reserves. If it wants, it could create many mining facilities in the country and the country could benefit a lot from such projects. However, I think that all this would certainly need some sort of planning as well because creating many projects might not be that easy for the government.

Yeah Iran is a very rich country ,but I guess it would really require more money to start project like that truly , so the country would probably take a break from that ,or they would probably start up project step by step ,when they got more revenues they would do more

 

[Horia_10]

It definitely can become a good source of the income for the country , if the process is profitable and does not disrupts the environment or cause the hazards that can affect humanity if such things are not there , they can start the process now and can keep mining the coins for later on actually indeed .

 

[Wisdom01]

It definitely can become a good source of the income for the country , if the process is profitable and does not disrupts the environment or cause the hazards that can affect humanity if such things are not there , they can start the process now and can keep mining the coins for later on actually indeed .

Mining is profitable tho , because there are many that are seriously earning vividly from just mining alone ,so these countries that are mining could use these opportunities to increase the revenue they would be making ,that's why they have to place more interest in mining first

 

[Horia_10]

It is not profitable at the industrial scale also because there are sanctions on Iran which doesn't allows its people to register on foreign exchange platforms and sell their assets especially on us based or us following exchanges so bitcoin investing or mining is possible and profitable maybe only at the small stage only at this moment .

 

[Wisdom01]

It is not profitable at the industrial scale also because there are sanctions on Iran which doesn't allows its people to register on foreign exchange platforms and sell their assets especially on us based or us following exchanges so bitcoin investing or mining is possible and profitable maybe only at the small stage only at this moment .

Yeah those sanction could actually be what is contributing to the low development of crypto currency in the country ,I wish the government could really look into this sanction and probably find way to better reduce the effect of the sanction , because of the effect its causing

 

[Horia_10]

The sanctions won't be eliminated because the country wants to build on economic power , but Us doesn't wants that and that is why there is a deadlock on that term between the two countries , Now they are thinking to avoid sanctions and unfavorable currency exchange rates by using bitcoin actually indeed

 

[Wisdom01]

The sanctions won't be eliminated because the country wants to build on economic power , but Us doesn't wants that and that is why there is a deadlock on that term between the two countries , Now they are thinking to avoid sanctions and unfavorable currency exchange rates by using bitcoin actually indeed

Yeah it won't be eliminated for now , but I heard Russia and some countries might be forming a currency board called blocs ,that could be used as against the us dollar and others , I think the Russian government are obviously thinking of another second option or ways