Power Plants are now Authorised to Mine Crypto

in HODL5 months ago


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Yes guys it's True, The Iranian government has recently authorized the Power Plants to Mine Cryptocurrency. This doesn't mean that the power plants are ordered to mine Crypto but rather that the power plants can Mine Cryptocurrency legally if they want. But there is one rule that needs to be followed which is that the Public will be favored before Crypto which basically means that the Power Plants should not divert all their Power to mine Crypto and let Iran be Dark. So let me give my 2 cents on this new development and I will be stating both merits and demerits of this Plan.

Merit

This new change may show a shift in the Mining Power of the Bitcoin Blockchain as we all know most of it comes from China. So yeah we can witness a slight shift in Power.

Demerit

The most obvious demerit will be the corruption factor, where some people might just Mine Crypto and show wrong data to the Government. This in turn will lead to more Power being used to mine Crypto while the people of Iran might suffer without Power.

So yeah it will be interesting to see what happens after this news hits everyone and how they react.

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Interesting news and welcome to the @hodlcommunity !

Cheers 🥂 my friend !

I have been meaning to write a post about Crypto but failed to have the time for it but from now on I will try to write at least one post per day related to crypto. I have already posted a new post about Crypto on the HODL Community.

It is been a long time I haven't see a post from you!

Yeah, I kinda stopped writing Crypto-related posts but I feel like I might make one Crypto-related post daily depending on the Time I have on hand.

I just wrote another crypto-related post related to FUD in India.