Iranian Bitcoin Mining Ban Lifted after four Months

[Fortify]

Good news from Iran . In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country.

Basically it seems that I have missed the news about when they placed a ban on the bitcoin mining. But what was the cause of the blackouts they were experiencing, was it because of bitcoin mining? Or they just believed that it must have contributed to whatever the case may be that resulted to them having black out? Alright it is quite good that they have now decided to consider bitcoin mining again and allow companies to get back to their mining business.

Imagine a lot of businesses that would have been affected after they placed a ban on the mining of cryptocurrency. I think other countries that banned crypto mining should consider doing the same in the case of cryptocurrency mining, it’s going to be good if they work with these companies and maybe regulate in a way so that it wouldn’t affect the country.

It's more of a convenient scapegoat for the Iranian government to blame for economic mismanagement. If they can say "it's these nasty and selfish blockchain miners" it beats saying "we don't have a solid plan for energy independence even though we are sitting on large oil reserves in this country". Sanctions against Iran make it difficult for them to produce certain needs for their own energy, but we now see that money has trumped that and these miners are bringing in a strong flow of foreign currency that they struggle to produce. Most likely their oil reserves have been topped up and the energy grid situation has stabilized enough that the benefits outweigh the negatives.

[Smartvirus]

Bitcoin mining and its energy requirements have been a talk on the rise and made many headlines ever since Elon Musk brought it up haven't inaugurated it with Tesla previously. Its not a thing of wonder for Iran to have looked into the sector on that cause and attribute most of its electrical supply instability to bitcoin as well as, search for means to better taxe miners, seeing the potential it could bring on the economy. Especially with the fact that, the Iranian currency is of relatively low value.

It's a good thing they've lifted the ban and its also a pointer to other nations, especially nations where bitcoin mining are carried out and nations with low economy to research on means to utilise the field for its benefits.

[wxa7115]

Iran made ban on bitcoin mining after gathering information of mining farms around the country. According to the data it is clear that more than 90% miners were using illegal electricity and without proper licensing. Only 5-10% were doing it in a legal way with proper licensing from the respective authorities. This illegal usage of electricity resulted on the deficit of day to day needs around the country. Now the government might've made required changes and lifted the ban.

As we may guess members in this forum do not like the idea of any part of the bitcoin ecosystem being banned anywhere, but they had a point, if miners want to mine then they need to pay for the electricity they consume, that is completely fair and that is something we all do, so why miners should be exempt of this?

I am glad the temporary ban has ended and they are allowing legitimate miners to come back online, after all if they are regulated and they are paying all their taxes then they should be left to their own devices, also this will help a country like Iran which is in bad economic shape due to all the sanctions they are facing from the international community.

[Zilon]

Reserving the mining for authorized miners will regulate the electricity consumption many unauthorized miners would want to abuse the privilege and would consume more electricity due to greed and selfish wills. This is just the news we need to hear more often hope china would follow suit in not long a time

[Ucy]

Is that 300 megawatts for daily, monthly, yearly electricity consumption for Cryptocurrency miners?  And it's important to note that he is referring to multiple cryptocurrencies and not just Bitcoin.
Well, if miners were not too clustered at few locations, the amount of energy won't be that obvious. Is something wrong with this model? We will know for sure in the future