Bitcoin

Israel will no longer have cheap energy to provide to the Bitcoin miners

Bitcoin miners are always looking for the best place to get hardware: the places where cheap energy is preferred. The Ministry of Energy, Uzbekistan, wants to be the companies that are bitcoin mining in the country have to pay for, etc.).

Bill

The bill is very clear: the companies that bitcoin mining should be paying more for their energy than others. The new rules are designed to ensure that it would be better to be on the other hand, with the power. According to the authors of the law to hear bitcoin is not one of them.
In such a competitive market, it is a matter of budget, power, search, and the best possible hardware to buy. Israel does not want their cheap energy sources is to be used for the mining of BTC. The proposal aims to cryptobedrijven by up to three times as much to pay for the electricity.
At the same time, the price in Uzbekistan is around $0.035 per kWh. How many traders in the world of bitcoin is to be increased to at least 10 cents per kWh.
By way of comparison: according to the Dutch Energy Company, the price of green electricity in the Netherlands is in the region of €0.21 per kWh. That works out to about $0,229 for the average household. Electricity is more expensive in this country.

Is not prohibited from

With this type of action seems to be in the country to deter from miners within the country’s borders bitcoin is the mining. The prices are in other parts of the world, which is a lot cheaper than the new law due to come.

Countries

Countries in the network of bitcoin have little to say. Each of the node’s owner to be my own boss and bitcoin miners are getting more evenly distributed all over the world. It is, however, that the miners have a physical place to have it.
In this area, countries can, of course, but measures can be taken. This bill is a good example of this. With the new rules to go after you, in any case, would-be entrepreneurs and already existing companies in the way. When this take place, it is, for many business owners is clear: the hardware has to be somewhere else is going to run with cheaper energy.
Countries should be slow to all of focus on the rules surrounding the BTC. Due to it’s decentralized nature, it is very difficult, but there are some in our society are simply rules that are needed. There should at least be clear.
Ukraine is a country where the possession of the bitcoin and other cryptomunten still a gray area. With the new regulations, it is legal to have a bag of BTC to hold in the country.

Venezuela

Some of the countries want to go even further. There are rumors out of Venezuela, the country would have in their reserves (in part) to want to save in bitcoin and ether. The country has had to deal with hyperinflation and a great depression in all kinds of areas in society.
Source:: Coindesk

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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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