Quote from: Artemis3 on July 23, 2019, 06:37:24 PM

Quote from: Khaos77 on July 23, 2019, 01:33:45 PM

Quote from: akela11 on July 23, 2019, 10:28:28 AM

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?

https://cointelegraph.com/news/iran-finalizes-electricity-pricing-scheme-for-cryptocurrency-miners

Quote

While Haeri did not elaborate on the exact price scheme, he stated that the price is dependent on market factors such as fuel prices in the Persian Gulf.

The head of Iran Electrical Industry Syndicate, Ali Bakhshi, previously proposed a price of $0.07 per kilowatt hour for cryptocurrency miners. Electricity in Iran is currently very cheap due to government subsidies; one kilowatt hour of electricity currently costs $0.05, with power being cheaper in the agricultural and industrial sectors.

To put these prices in context, Mostafa Rajabi Mashhadi, the Energy Ministry spokesman for the power department, previously stated that the production of a single Bitcoin (BTC) uses about $1,400 in state subsidies.

Actually more bad news than good.

The reason mining was so profitable their cheap subsidize electricity.
That is over , rate will be at least .07 per kilowatt and most likely higher and a tariff charged on all imported ASICS.
Don't forget , nothing stops them from later outlawing it and then seizing the ASICS for their own use.

This also increases the possibility that the US will Ban Bitcoin like they did the Petro.
All it takes is one executive order from Trump and Bitcoin is FUBAR.

Petro is centralized an thus easy to block and shutdown. All you have to do is block access to the single server, or make something happen to the single data center where its few (private) nodes reside. Absolute garbage.

On the opposite you cannot block Bitcoin, there is no single point of failure. If a country like Iran wants to evade US sanctions, all they have to do is use any decent crypto, such as Bitcoin and not bother with centralized garbage.

Besides Venezuela is having enough trouble managing to keep the lights on, yesterday we had yet another nationwide blackout of over 12 hours, and again the "evil Americans" with their "electromagnetic pulse weapon" are to blame (again).

I think you missed the Point, the executive order did nothing on the technical side to block Petro.

It just made buying any petro a crime in the US, and thus no one in the US purchased it , and as you can see it is worthless.

Imagine if all of the US citizens and US Companies all sold all Bitcoin in 2 weeks and did not buy back in,
Bitcoin will be back at $50 and the miners will end up shutting down as they can't maintain the network now because of their excessive energy waste.