Iran legalizes mining

[joinfree]

Well it's a great news to have Iran legalizing the mining of cryptocurrencies because China which is the home of most large mining farms is not really hospitable to the activities of cryptocurrencies. I just hope Iran can find other sources of energy to make the mining of cryptocurrencies less expensive as mining cryptocurernies consumes high amount of energy.

[Lauren Smith]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

You should include a link next time: Iran Legalizes Crypto Mining

I imagine the US government will take this as cause to further clamp down on exchanges and other Bitcoin services. They'll push for stricter regulations and enforcement under the guise of concerns over sanctions. This is what a US official said a few days ago:

"As Iran becomes increasingly isolated and desperate for access to U.S. dollars, it is vital that virtual currency exchanges, peer-to-peer exchangers and other providers of digital currency services harden their networks against these illicit schemes," said Sigal Mandelker, Treasury's undersecretary for terrorism and financial intelligence.

When has america not created regulations and enforcement under the guise of concerns over (insert bullshit here)
USA is a crazy place run by lunatics that think everyone is a terrorist. Paranoid bunch of pansy asses.

[d_fitrie]

That is how Westerners view the negative side of other countries, but I like to conclude that everyone should have freedom of mining because there is already support from the government

[K21000]

Iran has legalised mining when crypto market is contracting and BTC/LTC block halving is coming up......a bit late to the party? Time to do this would have been in 2013-2014 when mining farms were springing up all over the world (mostly in china though...) .

[Moiyah]

Nothing wrong with the mining and this legalizing mining bitcoin is a good step towards adoptation in Iran country. However, the electric consume is the problem here. Anyway, I do hope those other countries will also think twice and exclude bitcoin mining banned. Iran government finally had a rigjt decision about this

[shoreno]

Nothing wrong with the mining

there is , because mining is hazardous to the environment especialy if you will be using large space and large mining equipment  . this is why mining is strictly prohibited on some countries and some places   .

and this legalizing mining bitcoin is a good step towards adoptation in Iran country.

i dont think that mining can influence other to start joining cryptos because mining is not easy  but if they have legalize mining , they should also legalize cryptos  . small time users shall rather buy cryptos instead of mining to avoid hassel   .

[diahsw]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

Today more and more Iranians are starting to switch to cryptocurrency, specifically bitcoin. The Iranian government has completed a cryptocurrency mining legalized in the country after months of speculation that the opposition would categorize it as illegal. As expected, the price of Bitcoin has increased rapidly on all platforms in this country after this announcement. This only proves that there are positive comments about the industry having a direct value on cryptocurrency in the world. According to IBENA, local news agencies closely related to the Central Bank Ira, the Highest Cyberspace Council in the country are associated with an estimated cryptocurrency mining for economic purposes and each individual or companies that have the ability to be involved in this business can be done in this country. This is good news for not only crypto investors based in Iran but also the industry in general because this shows that most countries do not support this technology. In the past, some investors in that country accessed their accounts on several platforms that used Binance besides using Virtual Private Networks also called VPN.

[kpcian]

Just think what a great decision Iran made. Having legalized mining, the country has created best conditions for large miners, because now it is safe for them. Perhaps the electricity fee will not be the most profitable but the police will never break your home to arrest mining farm

What is your opinion about that?

Is it really?
I think it makes some ambiguous idea about this issue, Iran is just trying to regulate Bitcoin mining but not above it.
Whatever it is, Iran is one of the most competitive economic countries for the future, So If Iran would take this kind of step then would have an impact on the global system for sure. that's why this type of news also carry a good impact on making a decision for further investment on Bitcoin and Blockchain system. I would like to request that the news should be authentic and credible because it means a lot.

[stadus]

That is how Westerners view the negative side of other countries, but I like to conclude that everyone should have freedom of mining because there is already support from the government

That's the most important thing, support and regulation so they will feel their investment are safe.
Building a mining rig is costly, so investors needs assurance that they will not be stop anytime so they can get their ROI in time with continues operation.

[ethereumhunter]

Iran has legalised mining when crypto market is contracting and BTC/LTC block halving is coming up......a bit late to the party? Time to do this would have been in 2013-2014 when mining farms were springing up all over the world (mostly in china though...) .

Maybe it's a bit too late because the other country was already getting so many btc and altcoin from mining. But that will not be a problem because they can start mining from now on and collect the rewards and hold for the right time to sell their bitcoin and altcoin. I think they can compete with China if they have a low fee of electricity so they can save the rewards.

[pakhitheboss]

Regulating Mining Farm, when you cannot trade is a big Joke!

Iran is going through the biggest economic crisis, the Inflation rate has already hit a record high. With so many sanctions, how on earth will they be able to buy mining equipment. Iran is not a manufacturing hub, it is an oil-producing nation. It has to procure equipment through trade, with a sanction in place it will be using the Black market to get those from china. This will again prove America was correct.

I do not understand why these countries move to cryptocurrency when they have an Economic Crisis? Why did they not think about regulation when they did not have any sanction?