Golden Outpost | Stable power supply The President of Iran announced the ban on encryption mining before September 22

On May 26, the President of Iran announced that encryption mining will be banned until September 22. Recently, local media in Iran reported that there has been a problem with the power supply in Iran recently, and many places in Iran have begun to take turns to cut off power. Iran will shut down cryptocurrency mining farms during peak electricity consumption due to the need to maintain a steady supply of electricity for other users.

Jinse Finance Market Report 丨 BTC’s plunge is still likely to drop again: According to the Huobi market, BTC started a downward trend at 10:00 am yesterday, fell below the platform support at 21:00, and accelerated its plunge in the early morning. The lowest reached 9101USDT, and then rebounded. Oscillating in the 9350USDT range. The original box structure of the daily chart was damaged, and the moving average pointed downward. In 4 hours, there is a demand for rebound and consolidation, but the bulls are weak, and there is still the possibility of another dip after the shock. As of 10:00, the specific performance of mainstream currencies is as follows: [2020/6/12]

In this regard, the spokesperson of Iran’s power department said in an interview with Iranian media on May 24 that the main reasons for the power shortage were hot weather, increased power consumption due to industrial prosperity, reduced hydropower generation due to drought, and Iran’s private cryptocurrency “mining.” Field" consumes too much power and so on. Iran's power department stated that Iran will use peak shifting, build new power plants, and prevent cryptocurrency "mining" in the future.

Analysis | Golden Disk: FGI Fear Index 19: Golden Disk Comprehensive Analysis: The FGI Fear Index showed 19 on September 3, and continued to hover below 20. According to historical data, the probability of a rebound below 20 is high. Investors Rational judgment should be maintained, and risk control should not be followed blindly. [2018/9/3]

The measure, aimed at addressing energy shortages, will target licensed mining farms, despite the government's acknowledgment that illegal crypto miners consume more energy. According to official figures, licensed cryptocurrency mining farms use up to 300 megawatts of electricity per day. Mostafa Rajabi Mashhadi, spokesman for the Iranian Ministry of Energy in charge of the power sector, said that this part of electricity can be saved to maintain the balance and stability of the grid.

Golden Finance Live Report Deloitte Senior Manager: The United States is focusing on technologies that can realize modernization, such as blockchain: Golden Finance Live Report, the 2018 Coindesk Consensus Conference officially opened in New York today. During a roundtable discussion on how the government is using encryption, Deloitte senior manager Wendy Henry said the U.S. is looking at technology that can modernize it. These technologies, such as blockchain technology, can actually serve as connected organizations, and people have to figure out how to use blockchain technology. Jennifer O’RourkeLinux, Illinois Blockchain Business Liaison, said that blockchain technology is not a revolution that burns houses down, but provides a better version of the services that the government currently provides. Tom Savel of the Centers for Disease Control and Prevention believes that blockchain can help with disease surveillance. As an enterprise service, the technology can help track people and demographics with specific diseases, and blockchain is also effective in drug distribution. Wendy Henry of Deloitte Consulting believes that utility coins will facilitate the economic development of the ecosystem. Reforms within governments will take place. Jamie E Smith of the Inux Foundation said that the government needs to first understand what blockchain is, and then finally reform around this technology, and the government will eventually participate in the work of bitcoin cryptocurrency mining. [2018/5/14]

According to estimates by blockchain analytics firm Elliptic, Iran could generate as much as $1 billion in bitcoin mining revenue per year. Although the mining industry brings huge revenues to Iran, Iran is facing a shortage of electricity due to the surge in electricity consumption for cryptocurrency mining in the country and the current reduction of hydroelectric power generation in the country.

Iranian Energy Ministry spokesman Mostafa Rajabi Mashhadi pointed out that unauthorized cryptocurrency mining can affect power supply. In recent days, the Iranian government has also announced that it will impose huge fines on those who use household electricity to mine cryptocurrencies. Earlier, Iran had also invited intelligence officials to participate in the search-zce for illegal mining cryptocurrency miners. Gholamali Rakhshani Mehr, power distribution coordinator at state-run power grid operator Tavanir, said intelligence officials would assist in finding and confiscating unlicensed mining sites.

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