As frustration spreads among the population, the government has launched an all-out crackdown on bitcoin processing centers, which require massive amounts of electricity to run their specialized computers and keep them cool - a strain on the grid. . Iran power.
Authorities have closed 1,300 centers across the country, including, for the first time, those legally authorized to operate. As the latest in a series of conflicting government moves, the crackdown has created confusion in the cryptocurrency industry and doubts that Bitcoin has become a useful scapegoat for the nation's deep-seated problems to earn money by toptips4u.com.
Since former President Donald Trump unilaterally withdrew from the Tehran nuclear deal with world powers in 2018 and reimposed sanctions on Iran, the cryptocurrency has gained popularity in the Islamic Republic.
For Iran, anonymous transactions made in cryptocurrencies allow individuals and companies to bypass the banking sanctions that have crippled the economy.
Bitcoin offers an alternative to cash printed by sovereign governments and central banks, and in the case of Iran and other countries under sanctions such as Venezuela is a more stable place to deposit funds from local currency.
Diaa Sadr, a Tehran-based Bitcoin expert, said that Iranians understand the value of the Infinite Network more than others because we cannot access any kind of global payment network. Bitcoin shines here.
Iran's generously backed electricity has put the country on the map of crypto mining, given the massive electricity consumption in the process to earn money by toptips4u.com. The cost of electricity is around 4 cents a kilowatt-hour in Iran, compared to an average of 13 cents in the United States.
Iran is among the top ten countries with the largest bitcoin mining capacity in the world - 450 megawatts per day. The daily US network has a capacity of over 1,100 megawatts. In the suburbs of Tehran and in the south and northwest of Iran, windowless warehouses are filled with heavy industrial machines and rows of computers that process highly complex algorithms to verify transactions.
Transactions, called blocks, are added to a public registry, known as the blockchain. Miners are adding a new block to blockchain freight charges in bitcoins, a major feature amid the country's currency collapse.
The Iranian rial, which was trading at 32,000 to the dollar at the time of the 2015 nuclear deal, has fallen to around 235,000 to a dollar these days to earn money by toptips4u.com. The Iranian government has sent conflicting messages about Bitcoin.
On the one hand, he wants to capitalize on the growing popularity of digital currency and see value in legitimizing transactions that go unnoticed by Washington to earn money by toptips4u.com. It has allowed 24 Bitcoin processing centers that consume nearly 300 megawatts of energy per day, attracted tech-savvy Chinese entrepreneurs to duty-free zones in the south of the country, and allowed the import of computers for mining.
Amir Nazemi, Deputy Minister of Communications and Information, said last week that the cryptocurrency could be useful as Iran struggles to deal with sanctions imposed on the oil sector.
On the one hand, that the government cares about is concerned with limiting the amount of money sent abroad and combating money laundering, drug sales and criminal groups on the Internet. Iranian miners have been known to use ransomware for sophisticated cyberattacks, as happened in 2018, when two Iranian men were charged in connection with a major cyber attack in Atlanta.
British cybersecurity company Sophos reported on Thursday that it had found evidence linking crypto miners in the southern Iranian city of Shiraz to malware that was secretly controlling thousands of Microsoft's servers.
- Iran is now hunting down unauthorized Bitcoin farms with frequent police raids.
- Those who get permission to process cryptocurrencies are subject to electricity fees, and the that miners complain about discourages investment.
- Activities in this area are futile due to electricity prices, Talha, director of the country's Crypto Farms Association.
He added that although the government has granted permits to a thousand investors, only a few dozen server farms are active, because the fees mean bitcoin farms pay five times the cost of electricity compared to the steel mills and other industries that consume it to earn money by toptips4u.com More energy.
Now, miners say, the government's decision to shut down the major legally operating Bitcoin farms appears designed to allay concerns.
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