Pakistan government mining Bitcoin

[annayks 2314]

There are reports that the government of Pakistan after having removed a ban on Bitcoin, now is actively mining Bitcoin in government level.

This is the second government we read that is directly involved with mining Bitcoin after Venezuela and the third one if we add Iran that has control over the Bitcoin mining sector in the country.

So in government level today there are these three countries mining BTC:

• Venezuela
• Iran
• Pakistan

Maybe even more will be added to mine at a country level soon, as many countries are suffering lately from the effects of the corona virus, have increased their debts and many of the fiat currencies have become problematic. Bitcoin may be the solution for increased profitability at a country level and perhaps even stabilize the failed fiat currencies of the counties having problems in their economies.

 

Source: https://decrypt.co/53918/pakistan-is-now-using-government-funds-to-mine-bitcoin

[Whited35 15285]

Looking like one province's government in Pakistan is establishing mining farms to mine Bitcoin to uplift the economy during this COVID-19 pandemic. At least, province's government has started to establish a trend to adopt this innovative blockchain technology and cryptocurrency that will definitely empower them to get benefited.  

[Whited35 15285]

31 minutes ago, Abdullah jan said:

Yeah I already listen about this news but it's real or not I'm not sure about it but it's a great achievement by Asian countries if they trade in BTC they can also increase theirs economy in this way it's a great chance for Pakistan to raise a great country in this world 💪

@Whited35

Alright. Good luck for Pakistan 😉 ! Just starting two mining farms from a province government may not make them world's economy power but I am pretty sure it will help them to empower their financial resources if electricity supply is not too expensive in Pakistan(Mining farms need electricity). There are already some countries like Venezuela which have seen possibilities off crypto. 

[Raqeebzy 6456]

On 1/14/2021 at 7:32 PM, annayks said:

• Venezuela
• Iran
• Pakistan

Thought we have seen much of Venezuela and BTC, they keep surprising me the more. I am quite envois of its citizens; everything seems legal about BTC in that county and they are just too free with it and reaping the benefits. Same thing goes with Iran and Pakistan - war hit regions. It is just a way to revive long failed economy and increase their GDP.

[bogdanoff 3173]

2020 was the year institutions were investing in Bitcoin, perhaps 2021 will be the year when Central Banks are doing the same. Mining can change from industrial level to government and national level next, as there is profit to be made and probably there will be investing from governments in Bitcoin when there will be obvious problems in the fiat currencies they use.

[huesca123 946]

I think you left out that the Chinese government is also BTC mining. They might not have announced it officially that they are mining BTC but they are. Or the farms in China are allowed by the government for a percentage of what they mine. You cant trust anything that comes out of China, especially news items. Remember, its a communist regime.

[yonkii 3205]

On 1/14/2021 at 8:32 PM, annayks said:

• Venezuela
• Iran
• Pakistan

These countries have different economies, and politics, yet they decided to mine Bitcoin for some reasons, probably with thoughts not of today, but of the near future. What all these share is problematic economies. With Venezuela and Iran having the fiat currency being reduced a lot in value year after year. They also have very low energy costs and this helps to put it to good use.

[Ridam 7455]

I don't think there are any other bullish news than this and I appreciate your effort for the update about it. Lastly when I had read about pakistan, Crypto weren't regulated there and nlw the same country is mining Bitcoin. It clearly shows that, the FOMO is reaching the next level which is offcourse, governmental level or national level. Imagine  the neighbour country seeing the profit and try to implement same in their nations.

[Syedbesharat 5423]

The country have lifted the ban but still you have to submit the details about your funds how come you earned. The new update at crypto shows how much Pakistan government take crypto serious. Their one province is selected for clinical trial and the two farms are set for mining. The result of those two mining farms will decide the future of crypto in country. But it's not gonna be easy for their country to jump over crypto from fiat currency. The country debt will be paid easily from mining and crypto taxation. Hops the crypto gain good support from government. 

[annayks 2314]

On 1/19/2021 at 6:39 PM, huesca123 said:

I think you left out that the Chinese government is also BTC mining. They might not have announced it officially that they are mining BTC but they are. Or the farms in China are allowed by the government for a percentage of what they mine. You cant trust anything that comes out of China, especially news items. Remember, its a communist regime.

I thought adding china too. The chinese government must be getting something for allowing the miners to keep running but I haven't read something to be even as a suspicion. For Iran I remember reading that miners are not allowed to sell outside of Iran and are under constant observation. I'm not sure what to believe though as these countries are both very secretive and only secret services can find about that.

[tienda 8776]

I think is not only Pakistan government who mine Bitcoin, is possible there are others who are mining Bitcoin, but without announced about that. In case of Pakistan taking this decision to improve their situation economic because of the Covid-19, and also I think to make restriction for no mining without authorization.

[Dorjoy12 8962]

 Last year to till now a lot of crypto trader love to trade on bitcoin who especially  coming  from Pakistan, india and Bangladesh  Which  can be said that soon middle  developed  country will start to accept  the btc  as well use it more in future.. Yah covid is the main reason why most country affected  on crypto.. 

[jackycrypto485 1055]

It is great to hear about more countries joining the Bitcoin mining, Bitcoin may be the best solution for these countries to get rid of their debts and their failed currency, for Iran and Venezuela Bitcoin will also be useful for getting rid of the embargo imposed on these countries by the United States of America.

[Irfan Bukhari 9]

Dear friend is far behind for Pakistan Mining today.Pakistan approved bitcoin 3 months ago. There is a lot of work being done on the mining of bitcoins in Pakistan If work continues on this type of bitcoin, no account will be available in the coming months, no work will be available on bitcoin Because the price of bitcoin is increasing day by day 

[guatazoo 7150]

Those countries which are so much interested that's lead them to be mining bitcoin, those are the countries which di their best to solve economic problems within their countries, and I'm sure for government to support bitcoin this way, this is increasing the interest of bitcoin.  

[Ayesha990 0]

Yes its very good step i think all countries where bitcoin bann they should lift the bann on bitcoin and allow its mining if they want thier future bright its very essential in future and without this our future is not complete Pakistan Goverment's decision is good in Asian countries its good step they increase your econmey by install mining machines of bitcoin and can decrease poverty from thier countries.

[percare 3192]

Mining at national level has now being achieved, and who can say it won't expand in most economies and that it wouldn't be every country with excess electricity want to take advantage of it. In the future probably consensus will also be among governments as participants in decision process for Bitcoin.

[abohasnn9 2401]

It is good news since the morning, so a major country like Pakistan has adopted cryptocurrencies, cryptocurrency mining, and bitcoin in general, which is very important, and this is what we are interested in in the end, and I think it is a topic that changed it from its neighbor in the conflict India because India is one of the most supportive countries working in the field of mining globally.

[SelimAbi 339]

I was really interested in a country mining bitcoin. I think this is a very good situation. I wish he did something like that in my own country. And wouldn't there be additional income to cover foreign debt?

[Nizami2088 236]

How do we know the governments of Pakestan are mining the Bitcoin cryptocurrency using mining, it's like the state is doing that I think.

[David84 1191]

I guess that governments should stay away from Bitcoin and from cryptocurrencies in general and leave this to the people, it is a good source of income that people must get used of it not the governments , and I am really worried that people get banned later on from working on crypoto, because many countries have so many restrictions on crytpo trade.

[Rozy 1918]

It is good that certain countries are trying to improve their economy relying on crypto currencies, and this means that there ware or will be a kind of legislation for the cryptos that allow the citizens of these countries to use Bitcoin safely without any restrictions , and this will be reflected on the life of the citizens themselves and on the prices of cryptos around the world.

[Cleaner 2549]

On 1/19/2021 at 9:06 PM, Raqeebzy said:

Thought we have seen much of Venezuela and BTC, they keep surprising me the more. I am quite envois of its citizens; everything seems legal about BTC in that county and they are just too free with it and reaping the benefits. Same thing goes with Iran and Pakistan - war hit regions. It is just a way to revive long failed economy and increase their GDP.

Countries where bitcoin or cryptocurrency are legal tender will go far ahead economically.  Pakistan, Iran, Venezuela will go a long way using Bitcoin.  They can now easily convert to Fiat via Bitcoin.  People in all those countries will enjoy all the benefits with cryptocurrency.

[Hamza balouch 268]

I don't know I am also Pakistani and crypto is banned here.If it is right then it is a great step taken by government. It will also help to improvement  in economy.Government must realize that crypto is future and must take some massive steps. 

[RoyalHouse01 9]

I actually have not heard about the removal of the ban or mining on the government level, if they are doing so that is the best thing to do on the part of the government.