Bitcoin (BTC) Mining is Legal in Iran

Bitcoin Archive expressed:  “Bitcoin (BTC) Mining is Legal in Iran.”

Community response:  Iran overturned its 4 month ban, but you still need to be a licensed operator, which means people still mine Bitcoin illegally. Can’t stop. Won’t stop!

They have huge water supply issues that force them to be super wary. They would be more bullish if they had more natural resources.  By the way, what’s their primary mining source?

People have been mining bitcoin for years in Iran, the only problem that the government has with Bitcoin is illegal electric usage for mining bitcoin!

No Sir, I am an Iranian. Mining is possible only for the government or people that have a connection with the government, not general people. They do mining because of America’s sanctions. But illegally we have too many and it is too profitable.

Not legal for Iran’s people, just for the government, if a normal person starts mining they will kick them if they find out they did it for a long time.  Mining is legal in Iran, the temporary ban in summer because electricity was not enough.

Due to its vast gas resources, Iran produces very cheap and high-volume electricity. It uses the surplus electricity generated to extract Bitcoin, which is green energy.

While that is the disposition of Iran regulators and government regarding the adoption of BTC and mining, El Salvador has started off mining BTC using energy generated from volcanoes.  El Salvador houses a crazy 20 volcanoes in just 21,040 square kilometers.

It just looks like a lot of adoption is taking place.  The Pandora Papers reveal a worldwide network of off-shore tax havens, which is used by corrupt politicians, criminals, businesses, and the wealthy to avoid taxes by hiding wealth. All of them, using the fiat system.  Across the world, it is very obvious whether due to protests from regulators or due to adoption and acceptance by real-time investors and institutions that Bitcoin is here to stay.

The price of Bitcoin continues to rally.  With mounting institutional interest, big ticker investors are going to do their share in influencing the market to promote mass adoption.

For instance, Nayib Bukele keeps telling how they are buying the dip each time.  Since yesterday, Salvadorans are inserting more cash (to buy bitcoin) than what they are withdrawing from the chivowallet ATMs. And if we add remittances (almost $2 million per day), the incoming USD QUADRUPLES the outflow. This is very surprising so early in the game.

Thus, it is very visible that countries are beginning to slowly adopt Bitcoin.