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01/25/2021

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It is also interesting how these situations have resulted in anti-Chinese sentiments among certain people in Iran demanding that the local government not favor Chinese Bitcoin mining farms at the cost of things like electricity, pollution, etc., while on the other hand, the Iranian government sees a profitable opportunity to export electricity and bring in revenue for the country, especially when it is facing several international sanctions. Nevertheless, the local government had to temporarily halt its electricity supply to crypto mining farms because of the widespread public discontent

It is also interesting how these situations have resulted in anti-Chinese sentiments among certain people in Iran demanding that the local government not favor Chinese Bitcoin mining farms at the cost of things like electricity, pollution, etc., while on the other hand, the Iranian government sees a profitable opportunity to export electricity and bring in revenue for the country, especially when it is facing several international sanctions. Nevertheless, the local government had to temporarily halt its electricity supply to crypto mining farms because of the widespread public discontent

Assuming the bitcoin mining becomes mainstream in many countries, it will be fascinating to see how different countries impose and enforce restrictions/regulations on how much power these mining farms can consume per day. This will be another facet of technology that requires a good regulation right from the get-go.

Since Iran is not on payment systems, the government probably blamed bitcoin for the pollution as a means to shutdown bitcoin operations to avoid having its people send money out which would exacerbate Iran's economic problems.

It is interesting to see how much regulation governments will impose on crypto mining since energy supply is needed to maintain other system infrastructures on a daily basis, in addition to the possible dire health effects a country can face with increased pollution reducing the quality of life.

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