Post
Topic
Board Bitcoin Discussion
Re: Bitcoin & increasing government pressure & power outages
by
stompix
on 27/05/2021, 13:20:23 UTC
The Iranian government circumvents US sanctions by mining Bitcoin. Up to 4,5% of all BTC are mined by gigantic mining farms in Iran.
Iran makes up to $1 billion a year from mining BTC.

The current reward is $35m, which means $10b a year and would lead to $450m a year and not 1 billion for 4.5%.
Second, it's not Iran that is making that money just as it's not China who makes billions in mining, it's companies that mine there who are making those earnings, and they have costs, and they have profits and they might pay squat in taxes while feeding on subsidized energy.

So unless you somehow have access to a document that shown how much miners have paid in taxes then the claim of Iran making billions from allowing miners is simply ridiculous. If Tesla sells 30k cars it doesn't mean the US had made a billion profit in car sales.

Part of it is mitigated by the nuclear power plants

Huh? They only have one reactor ready and running, can you share those statistics?