Inquiry - Mining is Legal in Saudi Arabia?

[MattDylanBashedon]

hi guys, i am base in Saudi Arabia, i'd like to know if it is allowed to do mining bitcoin in Saudi Arabia?
any members from Saudi?

[AdolfinWolf]

hi guys, i am base in Saudi Arabia, i'd like to know if it is allowed to do mining bitcoin in Saudi Arabia?
any members from Saudi?

It looks like there currently aren't any rules against it, see this article for example, ( although this is primarily about ICO's, i am pretty sure it applies to mining aswell) https://news.bitcoin.com/saudi-central-bank-says-cryptocurrency-industry-is-not-mature-enough-to-warrant-regulation/

However, i'm not sure if it could be seen as "halal" or would be appropriated in your religion. I guess this is also primarily opinion-based, and i don't think anyone could answer that for you.

https://www.youtube.com/watch?v=Gctxeh0uwtk
https://www.youtube.com/watch?v=3R4VkehFGzg

[MattDylanBashedon]

Thanks you so much AdolfinWolf, I've watched the link you sent, and yah..i guess it's fine.

[ThreeForty]

I did a brief stint in UAC and was shocked at the cot of electricity/pmw.  Would it actually even be profitable to do in the MiddleEast?  I am stationed in Brazil now, and the costs are still ridiculous.  Also, check taxation fees on purchasing equipment if you plan on getting them shipped to certain parts of the region.

[MattDylanBashedon]

Yes, ThreeForty .in Saudi specially, electricity is very cheap. it is very much ideal to invest on mining here.

[GMule]

I think threeforty was saying the the electricity price was high, not cheap.  There are some calculators you can get to at least estimate the costs involved.

For example: https://www.cryptocompare.com/mining/calculator/btc?

[MattDylanBashedon]

I think threeforty was saying the the electricity price was high, not cheap.  There are some calculators you can get to at least estimate the costs involved.

For example: https://www.cryptocompare.com/mining/calculator/btc?

will i think if Threeforty really did some research then he is referring to the cheapest electricity cost. as of today the cost for 1kw = 0.045 dollar only..unless it is more cheaper in your area.