Bitcoin, Crypto currency, Blockchain

Uzbekistan plans to legalize crypto-currencies, Paradise Miner

3fb60b5b9ba1c2babfdd2dde7a17a242 - Uzbekistan plans to legalize crypto-currencies, Paradise Miner

When it comes to crypto-currencies, belongs to the Central Asian country of Uzbekistan to the countries, which have a major impact on the entire market. According to a presidential decree of Uzbekistan would like to legalize now, but crypto-currencies. Since, according to a study Uzbekistan is the third most profitable country when it comes to Bitcoin Mining, however, this could change soon.

As local media reports, the government of Uzbekistan until the end of the summer to bring in a bill for the regulation of Cryptocurrencies “electronic money” on the way. In the decree President Shavkat Mirziyoyev has specified that the Central Bank of Uzbekistan, the Ministry of information technology, as well as the Ministry of Finance and economy to prepare a corresponding draft.

In addition, he has commissioned the creation of a centre for the Distributed Ledger technology. The main task of the centre should be the creation of all conditions for the use of the Blockchain technology in the country, as well as the establishment of a competence centre. This is intended to promote the Blockchain-industry in the country, and local developers support. The centre should 1. June 2018. A perspective view of a contactless Pay by crypto should currencies be allowed in the country.

The President’s decision represents a 180 degree u-turn. In the past, Uzbekistan crypto had currencies, like many other countries, as illegal and an Instrument for the financing of terrorism.

Bitcoin Mining in Uzbekistan

Elite Fixtures has published the end of January, a study and ranking of the countries in which Bitcoin Mining on the basis of the cost of electricity on a profitable. The result of this study is that the Mining in Uzbekistan has the third highest profitability in the world. At # 1 on the list of Venezuela landed to where the Miner is only 530 dollars to spend, to mine a Bitcoin. 2nd place Trinidad and Tobago, where it costs 1.190 dollars. 3rd place Uzbekistan occupied with 1.790 US Dollar.

The most expensive country in the world for Bitcoin Mining is South Korea, where the total cost of 26.170 dollars to mine a Bitcoin. In Germany, after all, 14.235 U.S. must be expended, according to the studies of Dollar and thus still more, as a Bitcoin is currently worth.

For the calculation of the cost of the companies surveyed according to information from the local electricity provider and the average power consumption for the Mining of Bitcoins on the basis of the AntMiner S7, the AntMiner S9 and the Avalon 6 to be calculated. The study shows very clearly that depending on where one is in the world, Bitcoin Mining is still very profitable.

Leave a Comment