Legalization. In Ukraine and now Laos

[Rufsilf]

Asian nation Laos to legalize Bitcoin mining and trading

I am suspicious on the word legalize. It can be used inaccurately and I think we will need more time to see it is really a legalization or just a fake news, a misleading term using on media.

I mean terms like ban, legalize can be used and misled by social media and whales.

Laos has cheap electricity price, you can check the chart: https://www.globalpetrolprices.com/electricity_prices/
Will the nation appears on the World Mining Map and move closely to nations like Kazakhstan or Ukraine? https://cbeci.org/mining_map

Wether this is true or not, it's still a good news for the bitcoin or any cryptocurrencies around today. Eventually, more and more countries and governments will start to welcome and legalize cryptocurrencies especially bitcoin because it's the most trusted and famous among other coins.

Soon, the neighboring countries not just in South East Asia but most of the Asian countries will start to legalize and accepts transactions in the form of bitcoins or its digital currency. Few years from now, I know that bitcoin will shine brighter than ever before.

[1714875878]

1714875878

[virasog]

Thanks for sharing the list of global Electricity prices.

I live in the Philippines and I can't believe that our electricity is very high despite our country is not a developing county.
I actually start mining but my business is just a small-time, so it didn't push through.
With the prices I saw, I think I like to live in a country where electricity is cheap and start a mining business.

Ukraine and Laos electricity rate is still considered as low, it's good for business but of course, the government has to support it too.

How can you think of mining if the cost of electricity is high in your country ? The mining will not be profitable in this case and you will only waste your money and resources on mining. Also its not practical for anyone to leave the country and settle in a country where the mining conditions are favorable.
One has to think on other ways on how to collect bitcoins and one good way is by trading.

[DarkDays]

Laos is a small country and not really fit for hosting big manufacturing hubs. So the government is trying to play smart by utilizing their cheap electric resources to bitcoin mining and earn tax revenue from it. Completely makes sense!

That's a good strategy both politically and economically, taking the home-advantage of a resource that opens your country to an entirely new market. Now it is only a matter of passing these governmental regulations and enabling people who have access to the hardware to mine.
While 7.2M people as the size of Laos is not enough to crack down on mining bans, it still is a start.