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| November 15, 2019

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Iranian Grid Explains Electrical Costs Will Fluctuate for Bitcoin Miners

November 15, 2019 |

Throughout the course of 2019, Iran’s government and the country’s energy officials have been creating new guidelines for bitcoin miners setting up data facilities in the oil-rich nation. On Wednesday, Mostafa Rajabi, a spokesperson for Iran’s Energy Ministry, described a new price model for mining operations and prices per kilowatt-hour (kWh) will fluctuate during certain months.

Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque

Iran’s Energy Ministry Plans to Pay Anyone Who Exposes Illegal Bitcoin Mining Operations

There’s been a lot of reports over the last year detailing how mining operations have migrated to Iran for cheap electricity. After the initial migration, the Iranian government and the country’s power supplier noticed a lot of energy was being used by crypto mining facilities. Following a government announcement about illegal miners, pictures were shared online that showed bitcoin miners housed inside a mosque.

Spokesperson for Tavanir (Iranian power grid) Mostafa Rajabi.

On November 13, Iran’s Energy Ministry spokesperson Mostafa Rajabi explained the country’s new guidelines for mining operations during an interview with IRIB News. Rajabi told the press that anyone who identifies illegal bitcoin operations to the government will be rewarded. Rajabi emphasized that people who expose these facilities will be paid 20% of the recovery damage stolen from the electrical grid.

Fluctuating Electrical Prices

Iran’s Energy Ministry will also prohibit mining digital assets after the peak hours of consumption surpass a threshold of 300 hours annually. During the interview, Rajabi also noted how much bitcoin miners would be charged using the average price for the export of electricity in Iran. During some points of the year, miners could be charged $ 0.08 per kWh (9,650 rials) and during the cold months of the year, miners would only be charged $ 0.04 per kWh. However, during the summer months when electricity is used the most in Iran, electrical prices could quadruple to $ 0.16 per kWh, Rajabi noted. Rajabi disclosed that the new mining rules were initiated when Iran’s summer electrical demand jumped by 7%.

A Bitcoin mining facility in the desert outside of Tehran.

Last June, Iranian law enforcement officials reportedly confiscated 1,000 bitcoin miners from two facilities. This was followed by a bill that was ratified two months later stating that cryptocurrency mining in Iran would be considered a legitimate business. During Rajabi’s interview, he told IRIB News that Iran will help operations that create their own power plants with government incentives. Mining operations that utilize renewable energy sources would be also rewarded, Rajabi stressed.

What do you think about the situation in Iran in regard to bitcoin miners? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Wiki Commons, Fair Use, and Pixabay.


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The post Iranian Grid Explains Electrical Costs Will Fluctuate for Bitcoin Miners appeared first on Bitcoin News.

Bitcoin News

Trump Takes Battle Over Tax Returns to Supreme Court

November 15, 2019 |

Arguing that he’s protected from criminal proceedings while in office, President Trump has asked the Supreme Court to reverse a lower court’s order that he turn over financial records and tax returns to New York prosecutors. “We assert that the subpoena violates the US Constitution and therefore is unenforceable,” Jay…
Newser

Esper says military academy athletes can delay service to go pro, reversing Mattis decision

November 15, 2019 |

Athletes attending U.S. military academies can now delay entry into the armed forces upon graduation to play professional sports if they make the cut.
FOX News

After Starting College in March, 9-Year-Old to Receive Degree

November 14, 2019 |

There are fast learners, and there is Laurent Simons. The Amsterdam boy is about to receive a bachelor’s degree in electrical engineering from Eindhoven University of Technology at age 9, making him the world’s youngest college graduate ever. “The absorption of information is no problem for Laurent,” says his father,…
Newser

Instant Crypto Exchange Changelly Secures Access to SLP Tokens

November 14, 2019 |

Instant Crypto Exchange Changelly Secures Better Access to SLP Tokens

Instant cryptocurrency exchange Changelly will start to use digital asset rates from Bitcoin.com’s trading platform. This will ensure better prices for Changelly users and help increase the reach of all SLP tokens that are exclusively listed on Bitcoin.com Exchange.

Also Read: Universal Protocol Alliance to List Mega-Utility Token on Bitcoin.com Exchange

Changelly to Use Rates From Bitcoin.com Exchange

Bitcoin.com Exchange has announced a new strategic partnership with instant cryptocurrency platform Changelly. The integration of the services will allow Changelly users to gain access to the market rates provided by Bitcoin.com Exchange, wherein Changelly will act as a broker between the exchange and its own users. Changelly’s API will pick up rates from the Bitcoin.com Exchange platform and provide them in real-time directly to its users so they can buy crypto and instantaneously swap between different cryptocurrencies at the best rates available.

The integration with Changelly will also help increase the reach for all SLP tokens that are exclusively listed on Bitcoin.com Exchange. The Simple Ledger Protocol (SLP) is a system built on the Bitcoin Cash network for creating tokens in a permissionless manner. It has helped the development of an ecosystem for BCH that replicates the variety of ERC20 tokens on the Ethereum network. SLP tokens can easily be created, traded, and managed on the Bitcoin Cash blockchain within seconds, with minuscule costs for each transaction. Support for SLP tokens will also soon be added to the official Bitcoin.com Wallet.

Instant Crypto Exchange Changelly Secures Access to SLP Tokens

“I am pleased to announce our newest partnership with exchange.Bitcoin.com. The Bitcoin.com community is one I have always been a very big fan of, and now our customers will have much better access to bitcoin cash and SLP projects with the launch of their new exchange,” stated Changelly CEO Eric Benz. “Providing the community with the most efficient means to purchase and swap crypto is our goal and mission above all else, and with exchange.Bitcoin.com we are continuing to fulfill our mission by making our services easier for our user-base, and effectively more wide-reaching.”

Changelly has been operating as an instant cryptocurrency exchange service since 2015 and offers access to more than 150 cryptocurrencies on the market. Its website attracts over a million visitors monthly and the platform offers an official mobile app as well as an API which dozens of crypto businesses use to add the instant swap feature to their services. Bitcoin.com Exchange was launched on Sep. 2 as an easy-to-use trading platform that offers world-class security and a powerful trading engine.

New Token Listings on Bitcoin.com Exchange

Bitcoin.com Exchange is set to offer trading on Sideshift.ai’s native SAI token on Friday November 15 at 11:00AM CET. The Sideshift platform is powered by SAI that exists simultaneously as an ERC20, a token on the liquid platform as well as an SLP token. According to the listing announcement, the total token supply amounts to 210 million SAI and no further tokens will ever be minted. Currently, SAI is used to pay up to 50% of revenue back to affiliates. In the future, Sideshift is considering implementing further value-enhancing activities like a buyback and burn, paying stakeholders in SAI, and implementing merchant discounts.

Sideshift has created a system where users can switch between more than 20 different cryptocurrencies and anyone with an access code can start swapping immediately. It came to prominence back when Shapeshift introduced a mandatory membership program. The service is also fully integrated with the Bitcoin.com Wallet which today achieved a major milestone with over 5 million wallets created since the app launched just a little over two years ago.

Instant Crypto Exchange Changelly Secures Access to SLP Tokens

It was also recently announced that Bitcoin.com Exchange will provide an initial exchange listing to support an interoperable mega-utility token backed by the Universal Protocol Alliance, the Universal Protocol Token (UPT). The new UPT token is expected to be on listed Nov. 20, 2019, and will be available for trading by non-U.S. persons only.

What do you think about Changelly using rates from Bitcoin.com Exchange and the new listings on the platform? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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The post Instant Crypto Exchange Changelly Secures Access to SLP Tokens appeared first on Bitcoin News.

Bitcoin News

CNN

Protesters bring parts of Hong Kong to a halt

November 14, 2019 |

Hong Kong was hit with another day of turmoil after a man was shot by a police officer and another set alight following a confrontation with protesters in one of the most dramatic days in over five months of protests. CNN’s Paula Hancocks reports from the Chinese University of Hong Kong where protesters appear to be doubling down.
CNN.com – RSS Channel – World

TMZ

NFL’s Montae Nicholson Cooperating with Authorities In Death of 21-Year-Old Woman

November 14, 2019 |

Washington Redskins safety Montae Nicholson is cooperating with authorities who are investigating the death of a 21-year-old woman, TMZ Sports has learned. Here’s what we know …  law enforcement has confirmed a “death investigation” is…

TMZ.com

Katie Holmes lists Calabasas home for sale at $4.625 million

November 14, 2019 |

Actress Katie Holmes has listed her Calabasas home of five years for sale at $ 4.625 million.


L.A. Times – Business

Coder Was on Brink of Riches. Then He Was Found Dead

November 14, 2019 |

He was a troubled man but a “virtuoso coder,” writes Brendan I. Koerner in a profile of the late Jerrold Haas for Wired . The 44-year-old’s skeletal remains were found in the woods of Ohio in 2018, seven weeks after he was reported missing. Haas apparently died while sitting on the…
Newser

S&P 500 Ekes Out a Record

November 14, 2019 |

The S&P 500 has eked out a new record on an otherwise uneventful day on Wall Street, the AP reports. The benchmark index closed with a gain of 2 points at 3,096, its third straight increase after a decline on Monday. Consumer-focused stocks, including Target and Lowe’s, were the…
Newser