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Title: Industrial mining is categorized as which business? Post by: BTCIndia on July 03, 2014, 07:34:20 AM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity?
Any idea about licences? Title: Re: Industrial mining is categorized as which business? Post by: adv.kanishk on July 03, 2014, 01:20:15 PM hmmmm....interesting and a screwed q......make the text more understandable and provide more facts
Title: Re: Industrial mining is categorized as which business? Post by: Benson Samuel on July 03, 2014, 02:48:54 PM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity? Any idea about licences? Server Farm? Title: Re: Industrial mining is categorized as which business? Post by: subvolatil on July 04, 2014, 06:41:27 AM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity? Any idea about licences? Server Farm? It would run as a data center/ Server farm, Basically it is under IT services as Mining basically only does payment processing. Title: Re: Industrial mining is categorized as which business? Post by: BTCIndia on July 06, 2014, 11:13:49 AM hmmmm....interesting and a screwed q......make the text more understandable and provide more facts Consider this scenario: I've facility of 10,000 square feet, LT/HT connection, cooling unit, lease line, and there I've running some instruments day and night. That's it! Following are questions: 1. Am I doing business? Because, anything that helps us earn 'money/leagal tender' can be categorized as business. Here, I'm earning some stupid codes, known as Bitcoin. 2. Lets call it business! Which category do I belong? Manufacturing, IT services.. or what? What keywords should I use in MOA and AOA? 3. Once, we know category, we'd have another question. Any licenses required? Title: Re: Industrial mining is categorized as which business? Post by: BTCIndia on July 06, 2014, 11:15:35 AM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity? Any idea about licences? Server Farm? Frankly speaking, I don't know what is server farm. If running dozens of ASIC's is called 'server farm' then.. yeah! Its server farm. Title: Re: Industrial mining is categorized as which business? Post by: BTCIndia on July 06, 2014, 11:17:52 AM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity? Any idea about licences? Server Farm? It would run as a data center/ Server farm, Basically it is under IT services as Mining basically only does payment processing. I've a clue, we can categorize it as IT services. Are there specific licenses required for IT service? And I'm not sure it does payment processing. Payment is term used for money/legal tender. Not barter! I guess, Bitcoin is barter...as of now. Title: Re: Industrial mining is categorized as which business? Post by: subvolatil on July 06, 2014, 11:47:38 AM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity? Any idea about licences? Server Farm? It would run as a data center/ Server farm, Basically it is under IT services as Mining basically only does payment processing. I've a clue, we can categorize it as IT services. Are there specific licenses required for IT service? And I'm not sure it does payment processing. Payment is term used for money/legal tender. Not barter! I guess, Bitcoin is barter...as of now. NO. And remember the Indian Licence Raj ended around 1980's. only IT field i know, that has licences is the ISP services besides that you dont need licences for running any IT service. (I feel this as unnecessary too) We have to stop think that every business needs licences. It does not. Bitcoin Miners are doing calculations, it's as simple as that. Title: Re: Industrial mining is categorized as which business? Post by: Benson Samuel on July 06, 2014, 02:42:23 PM In India, industrial mining where we run mining equipment in facility, can be categorized in which business activity? Any idea about licences? Server Farm? It would run as a data center/ Server farm, Basically it is under IT services as Mining basically only does payment processing. I've a clue, we can categorize it as IT services. Are there specific licenses required for IT service? And I'm not sure it does payment processing. Payment is term used for money/legal tender. Not barter! I guess, Bitcoin is barter...as of now. NO. And remember the Indian Licence Raj ended around 1980's. only IT field i know, that has licences is the ISP services besides that you dont need licences for running any IT service. (I feel this as unnecessary too) We have to stop think that every business needs licences. It does not. Bitcoin Miners are doing calculations, it's as simple as that. I agree with sub, bitcoin mining in a farm is all about doing calculations and disseminating that information. This is the same task of a server farm that calculates any other algorithm and then passes that info to the client. |