Bitcoin miner - page 160
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I just read this on the crypto exchange's blog. Probably already discussed on forums somewhere, I didn't hesitate to google the translation:
Putin Pledges Support for Mining Operations
In recent months Russia has been embroiled in a debate over whether or not a ban on cryptocurrency mining should be legally enforced, and a Central Bank proposal for a nationwide ban on cryptocurrency mining loomed over the heads of Russian miners. However, Putin has since rejected the Central Bank's proposal, instead backing a government proposal to regulate and tax cryptocurrency mining.
Putin's support of the proposal means that areas with a surplus of electricity, such as Irkutsk, Krasnoyarsk and Karelisa, could potentially see a reduction in power loss, as exclusively reported by unidentified people familiar with the current situation in Russia, where the information has not yet been made public.
The information comes at a time when regulators in Asia and the United States have questioned the lack of regulation of cryptocurrencies and related transactions due to the belief that a highly volatile and privately run market could undermine the control of public financial institutions and systems.
Russia, however, is no exception. For years, Russia has taken a strong anti-cryptocurrency stance, citing the use of cryptocurrencies as an opportunity for money laundering or financial terrorism. Furthermore, in 2020, Russia finally recognised the legal status of cryptocurrencies, but strictly banned their use as a payment system.
Why was the ban on the table?
Sharing the concerns previously outlined by Russia, the Central Bank proposed a ban on the entire cryptocurrency ecosystem, focusing on cryptocurrency mining. Suggesting that the use of cryptocurrency in Russia poses a threat to the well-being of their citizens, monetary policy sovereignty and financial stability, the Central Bank sought to persuade Putin to agree with their views.
This ban, outlined by the Central Bank, resembled a complete ban on all cryptocurrency transactions in Russia, even prohibiting banking institutions from having anything to do with cryptocurrencies. The central bank also hypothesised a potential scenario in which massive transactions could take place to convert massive amounts of cryptocurrency into fiat currency, before completely shutting down and blocking any involvement in cryptocurrency.
The central bank stated that due to "speculative demand" for cryptocurrencies, rapid growth occurred, eventually leading to cryptocurrency resembling a "pyramid scheme", which could pose a risk to Russian citizens and the integrity of finance in Russia. Surprisingly, however, the Central Bank has yet to outline a plan to solve the problem of private use or ownership of cryptocurrencies. Elizaveta Danilova, head of the Central Bank's financial stability department, said that addressing private individuals is not yet "envisaged", perhaps indicating a more positive observation about the introduction of nationwide crackdowns on cryptocurrency.
With Russian cryptocurrency investors generating an annual transaction volume of $5 billion, the Central Bank is unlikely to propose restrictions on private ownership, provided that cryptocurrencies are not used as payment in Russia. Ultimately, the Central Bank's main target is financial institutions and businesses.
However, the Central Bank is also strongly opposed to cryptocurrency mining operations, believing that the environmental impact is too great to be allowed to continue in Russia. The Central Bank has described cryptocurrency mining operations as an opportunity to circumvent regulations by creating incentives. Nevertheless, Russia is now the third largest superpower in the mining world after a temporary shutdown in Kazakhstan and a final shutdown in China last year, meaning that stopping cryptocurrency mining operations could seriously hamper global mining and potentially affect the market as a whole.
Putin's position
In later updates to this divide, Putin rejected the proposal put forward by the Central Bank, instead opting for a softer proposal backed by the government. The proposal backed by Putin is essentially aimed at taxing and regulating cryptocurrency mining, rather than imposing such drastic restrictions as the Central Bank wants. While Putin's position on the issue has yet to be publicly confirmed, and Kremlin spokesman Dmitry Peskov refrained from any clarification, it has emerged that the president has ordered the government and the Central Bank to reconcile their differences.
With Putin pressuring both the government and the Central Bank to reach a mutual agreement on cryptocurrency regulation, it can be stated that the approval and implementation of laws and regulations for Russia is in the foreseeable future.
In a public briefing, Putin acknowledged Russia's "competitive advantage" in cryptocurrency mining, hinting at why the proposal includes taxation. With a "surplus of electricity" and "trained personnel", Putin's support for the government's proposal could be a means of using electricity to reduce losses and capitalise on a thriving industry without government intervention.
How might this affect Russian miners?
So far, little is known about the prospects of Russian cryptocurrency miners, but it can be stated that their livelihoods and contributions to blockchain are far from over. However, it is very likely that strict regulatory requirements will be introduced, which are likely to limit the number of miners across Russia or the volume of mining. Alongside this, the introduction of taxation of cryptocurrency mining operations could mean that many miners could be required to send a significant portion of their revenues to the government, thus financially incentivising the government to allow cryptocurrency mining.
Following relevant statements from the Central Bank and Putin about the debate on cryptocurrency mining, Vitaly Borschenko, co-founder of Russian mining company BitCluster, reported that various miners across the country have been invited to join a government working group to support nationwide mining operations. This development could signal that the Russian government is enthusiastic about the idea of cryptocurrency mining and that it could create many career opportunities in Russia.
Author：Matthew WD., Gate.io researcher
https://www.gate.io/ru/blog_detail/482/Putin-Pledges-Support-for-Mining-Operations
and how much per day will it cost for electricity?
--
Are any of you guys really mining right now?
There are opinions that everyone mines, they just don't scream about it ! :-)
Went with 1660 super and S9, Z9 asics... (good riddance to the beginning ... :-))
(the electricity is repulsed with pluses...)
how much per day will it cost for electricity ? - Depending on the equipment and the tariff. (there will be percentages from the wagered, less than 100%, there is a spreadsheet where you can calculate it all -
It calculates by itself according to entered values of electricity cost, extraction rate, current rates, respectively used equipment according to values of parameters - as a result, you can get to the price of crypto, which is being mined, at which there will be so-called break-even, i.e. repayment of electricity... For example, for a bitcoin it's probably around 15,000.00 per $.
In general, everything is individual, depends on the cost of equipment and the tariff for electricity.
I have written to the LK.
The views are that everyone is mining, they just don't scream about it! :-)
Came in on 1660 super and asics S9, Z9... (good riddance to the beginning... :-))
(the electricity is repulsed with pluses...)
how much per day will it cost for electricity ? - Depending on the equipment and the tariff. (there will be percentages from the naman, less than 100 %, there is an excel spreadsheet where you can calculate it all -
It calculates by itself according to entered values of electricity cost, extraction rate, current rates, respectively used equipment according to values of parameters - as a result, you can get to the price of crypto, which is being mined, at which there will be so-called break-even, i.e. repayment of electricity ... For example, for a bitcoin it's probably around 15,000.00 per $.
In general, everything is individual, depends on the cost of equipment and the tariff for electricity.
I have written to the LK.
Thank you
and how much per day will it cost for electricity ?
Here is the most popular calculator
Binance has become the first cryptocurrency organisation to join the Association of Russian Banks
Moscow, 17 February 2022 - Binance, the world's leading blockchain ecosystem, announces that it has joined the Association of Russian Banks toprovide a dialogue with federal governments, legislators, and experts in digital financial assets and digital currencies.
The Presidium of the Council of the Association of Banks of Russia approved Binance's joining the association and decided to create a Centre of Expertise on Digital Financial Assets and Digital Currencies. The purpose of the Expert Center is to prepare professional judgments on the circulation of digital financial assets and digital currencies, provide the working bodies of the Association of Banks of Russia and its representatives with expert and analytical materials on the subject, generalize and disseminate international experience. One of the tasks of the Expert Centre will be to ensure a dialogue with federal authorities, legislators, and experts in the field of digital financial assets and digital currencies. The Presidium of the Association's Board voted to appoint Olga Goncharova as head of the GR Expert Center.
When introducing Olga Goncharova, President of the Association of Banks of Russia Georgy Luntovsky said, "We are setting up the Expert Council for the future and have high hopes with Olga's arrival. She has big plans to conduct an examination of the turnover of digital currencies and organise events on this topic. And in our opinion, this is a good candidate to head a platform where the expert community could discuss approaches to the regulation and development of digital financial assets."
"We are on the cusp of a global transformation in cryptocurrency regulation. We are pleased to join the Russian Banking Association, this is a very significant step for us," said Binance Eastern Europe director Gleb Kostarev. "Binance, as the largest cryptocurrency ecosystem worldwide, has solid experience in dealing with regulators. I am confident that our developments, our expertise will be positively perceived by the banking community in Russia."
https://www.binance.com/ru/blog/markets/binance-%D1%81%D1%82%D0%B0%D0%BB%D0%B0-%D0%BF%D0%B5%D1%80%D0%B2%D0%BE%D0%B9-%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D0%BD%D0%BE%D0%B9-%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D0%B5%D0%B9-%D0%BA%D0%BE%D1%82%D0%BE%D1%80%D0%B0%D1%8F-%D0%B2%D0%BE%D1%88%D0%BB%D0%B0-%D0%B2-%D0%B0%D1%81%D1%81%D0%BE%D1%86%D0%B8%D0%B0%D1%86%D0%B8%D1%8E-%D0%B1%D0%B0%D0%BD%D0%BA%D0%BE%D0%B2-%D1%80%D0%BE%D1%81%D1%81%D0%B8%D0%B8-421499824684903477
PS: There seems to be no branch on crypto, so I will publish it here, although not exactly on the subject. If the respected representatives of the neighbouring country of the state, which is always on everyone's doorstep, send me to the humour thread - yes please )))
Here we go...
Here we go...
A lie and a throw-in!
Bullshit and a throw-in!
We (on another forum) got one of those too, just now.
We (on another forum) got one of those too, just now.
What city do you live in?
What city do you live in?
This is not a city forum, a professional one.
A man in Oryol has been hit.