Fucking assholes. Trying to centralize crypto

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Russia could prohibit bitcoin mining in large residential spaces like apartments and high-rise flats if one prominent government-backed organization had its way.

According to a report by Russia Today, Russian authorities will discuss the possibility of banning bitcoin mining farms in residential complexes during an upcoming meeting of the Presidential Council on the Internet.

Spearheading the effort is Ilya Massukh, president of the Information Democracy Foundation, a government-affiliated non-profit that manages, among other things, the federal government’s online platform for citizen petitions.

Massukh, who is also reportedly a member of the internet council under the President, will propose the ban by arguing that electricity resources at residential flats are inadequate for mining cryptocurrency. He also claimed mining activity is a fire hazard due to the heat generated by the mining hardware.

In an interview with the publication, Massukh stated:


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Electric networks at blocks of flats are unlikely to stand such consumption; ventilation systems are not able to handle the generated heat, either. This could trigger a fire.

Talk of such a ban comes at a time when Russia’s finance ministry is also looking to keep bitcoin away from public adoption by planning regulations that could allow “only qualified investors to buy and sell”

No doubt the big banks and elites will set the standards and admission for the "qualifications". I hate this bullshit.