Post
Topic
Board Bitcoin Discussion
Re: Bad News for miners in Noruega
by
th3nolo
on 23/11/2018, 23:50:30 UTC
Following the fall of the prices of the Bitcoin, the government of Noruega has stopped the Electricity Subsidies From Bitcoin Mining Farms. Jon Ramvi, CEO of Oslo-based blockchain advisory group Blockchangers, said: "less mining in Norway will reduce the prices of electricity for companies and people residing in Norway, meaning that we reap the benefits of these resources locally instead of giving it away to Bitcoin miners.”

So bad news for our friends in Noruega with no electrical subsidies and with BTC on low prices...

Article:https://cointelegraph.com/news/norway-withdraws-electricity-subsidies-from-bitcoin-mining-farms

The idea of mining Bitcoin is being profitable and help the network without any subsidiary, why? Because any government that it's losing the control of its wealth I mean, central banks could refuse to sell cheap energy at any moment like this to put its efforts to shut down Bitcoin something that has never happen before but In the long run. That's why miners can't be complacent because they have cheap energy to make a profit in a bear market. A government refusing to that could easily shut down or at least put in danger the network, something that governments can afford to do.