Russia or prohibit the use of personal residential electricity, heat for bit currency mining

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nnnRaiders commented: According to Russian media reports, Russia is considering prohibiting the use of bit in the individual residential mining. And last week, Cointelegraph also reported that the country’s two major power giants are discussing miners in 70 locations using the remaining capacity for bitmember mining options. Ilya Massukh, president of the Informational Democracy Fund, said any mining activity in the country could not be efficient for the Russian economy.n
nnTranslation: Clovern
nRussia is considering banning the mining of Bitcoin in individual homes, although power companies are negotiating to give miners remaining capacity.n
nAccording to today’s Russian Today and local news agency RIA Novosti, the Informational Democracy Fund will suggest that the private network address should not be involved in the pool at the upcoming Internet Development Working Group meeting.n
nRIA quoted the president of the fund Ilya Massukh said:n
nn”Any [activity related to mining] carried out in the country is wasting electricity.”n
n”This may not be efficient for the Russian economy.”n
nnWhile Russia continues to defend against conflicting attitudes towards encrypted currency and block chain regulations. Last week, Cointelegraph reported that the country’s two major power giants were discussing miners’ options for using the remaining capacity for bitmember mining at 70 locations.n
nAt the same time, an organization co-founded by the Russian Internet investigators is trying to raise $ 100 million to fund a large-scale mining project, which claims its goal is to compete with China for market share, while China’s electricity costs are higher.n
nThe so – called riskn
nMassukh also refers to the so-called security risks involved in private Bitcoin mining, including the conventional “ventilation system that can not reduce the heat generated by the necessary equipment.”n
nHis remarks were exactly the same as the different types of security issues expressed by Vice Minister of Finance Alexey Moiseev, who last month proposed to ban the sale of encrypted money to all “non-eligible” ordinary people.n

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