r/technology – Iran bans crypto mining for the summer ahead of peak electricity demand


Fewer miners makes it less costly for others to mine. But banning mining seems to send uncertainty into prices, which makes it less worthwhile to mine.

Given how prone crypto markets are to completely wild booms and busts, I don’t think anyone should think seriously about how this will change the market. There’s absolutely no way to predict that, and whatever small change this causes will be overshadowed by the next billionaire tweet.

If Iran really thinks miners wasting energy is a policy issue, banning it now while BTC is plummeting is probably the best time to convince people to get out of the business or move, rather than keep going and risk law enforcement.


Fewer miners makes it less costly for others to mine. But banning mining seems to send uncertainty into prices, which makes it less worthwhile to mine.

Given how prone crypto markets are to completely wild booms and busts, I don’t think anyone should think seriously about how this will change the market. There’s absolutely no way to predict that, and whatever small change this causes will be overshadowed by the next billionaire tweet.

If Iran really thinks miners wasting energy is a policy issue, banning it now while BTC is plummeting is probably the best time to convince people to get out of the business or move, rather than keep going and risk law enforcement.

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