Best offshore country for bitcoin mining??
- Thread starter troubled soul
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If you literally want to mine bitcoin then just look for a jurisdiction with low energy costs. The profits can always be shifted with Mining rig management fees, overinvoiced hardware, administration, coding or whatever fees. And how to tell how many BTC you have mined in reality?
So wouldn't even look for a jurisdiction where mining profits are tax free or something.
So wouldn't even look for a jurisdiction where mining profits are tax free or something.
Exactly, it's not about tax but operation costs (import taxes, energy costs, etc.)
https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries
https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries
Owned and run by a miner. I didn't approach them but two advisors said there is basically zero chance of being accepted.
On the other hand, Georgia has good electricity prices and if you have a lot of capital you can invest in a hydro plant which gives very cheap electricity once you've paid off the construction costs.
On the other hand, Georgia has good electricity prices and if you have a lot of capital you can invest in a hydro plant which gives very cheap electricity once you've paid off the construction costs.
thanks for the information. What you say is that you can ask them to help you with the entire setup? Will they charge for their service to help you directly?
Well, they consult you. They setup the company for you. They give you the license and they lease you the space. And they don't do it as middlemen.
There is a setup fee (2k$ I think), co registration fee and yearly license fees. They're the same whether you have them help you or go though an agent, or not.
So, basically, having them hold your hand does not cost extra.︀ And there is no advantage in approaching them via a middleman.
In a non-trivial case︁ I was involved in, they even got a legal opinion from their own legal counsel︂ specific to the case, free of charge. Nice, smart, business-oriented people.
There is a setup fee (2k$ I think), co registration fee and yearly license fees. They're the same whether you have them help you or go though an agent, or not.
So, basically, having them hold your hand does not cost extra.︀ And there is no advantage in approaching them via a middleman.
In a non-trivial case︁ I was involved in, they even got a legal opinion from their own legal counsel︂ specific to the case, free of charge. Nice, smart, business-oriented people.
They say $2k setup and $4k (1 license) or $8k (general license) per year.
@alexeikarp did you also have to pay rent too? Minimum 100 sqm for about $8k per year? Do they also arrange a residence permit through the FZE? If so it's good value I think. Sorry for all the questions, you've really got me interested in TFZ.
In terms of the thread title, I've seen TFZ advertise $0.05 for electricity and I'm pretty sure there's no VAT.
@alexeikarp did you also have to pay rent too? Minimum 100 sqm for about $8k per year? Do they also arrange a residence permit through the FZE? If so it's good value I think. Sorry for all the questions, you've really got me interested in TFZ.
In terms of the thread title, I've seen TFZ advertise $0.05 for electricity and I'm pretty sure there's no VAT.
Thanks. I guess $16k for setup, general license and rent isn't too bad if I decide to stay and legally hire people here.
It was a piece of cake until they closes the borders. Now it's a choice of get (perhaps just apply for) a permit by June 30, or move somewhere and maybe come back after 2 vaccine doses.
It was a piece of cake until they closes the borders. Now it's a choice of get (perhaps just apply for) a permit by June 30, or move somewhere and maybe come back after 2 vaccine doses.
Mind you, I've lived in Georgia for a while. Wifey and small kiddo. We didn't like to too much and are not enticed to return, though it is an efficient and cost effective place for some activities:
- Tbilissi is︀ cold in winter and extremely stuffy in summer, suffering from pollution entrapped by surrounding hills.︁
- The interesting areas of Tbilissi aren't really very large in area, after all. A︂ lot of things are run down.
- Batumi is a pain to get to and︃ whilst has some nice areas is generally underwhelming and post soviet. The beaches are like︄ 2/5.
- The vast majority of regulated service providers I have talked to are very...︅ unknowledgeable. Though I have eventually found a couple of gems. Same goes for some people︆ like taxi drivers or home help, they sometimes act really clueless...
- Prices are on︇ the low side, but not always, and sometimes you get what you paid for. A︈ lot of dubious restaurants straight out of the 90s, suspiciously large tutti-frutti menus etc... The︉ good stuff costs accordingly.
- Some uneasiness if you happen to be russian-speaking.
- Countryside︊ and minor cities are...
It's not explicitly bad by any means. But a little meh.︋
- Tbilissi is︀ cold in winter and extremely stuffy in summer, suffering from pollution entrapped by surrounding hills.︁
- The interesting areas of Tbilissi aren't really very large in area, after all. A︂ lot of things are run down.
- Batumi is a pain to get to and︃ whilst has some nice areas is generally underwhelming and post soviet. The beaches are like︄ 2/5.
- The vast majority of regulated service providers I have talked to are very...︅ unknowledgeable. Though I have eventually found a couple of gems. Same goes for some people︆ like taxi drivers or home help, they sometimes act really clueless...
- Prices are on︇ the low side, but not always, and sometimes you get what you paid for. A︈ lot of dubious restaurants straight out of the 90s, suspiciously large tutti-frutti menus etc... The︉ good stuff costs accordingly.
- Some uneasiness if you happen to be russian-speaking.
- Countryside︊ and minor cities are...
It's not explicitly bad by any means. But a little meh.︋
@alexeikarp location preference is very personal. I am from UK and was in Thailand before Georgia, almost 3 years in each. Better weather than either, good restaurants (variable, but there are gems), great wines. The only real downside for me is that I'm not good at picking up languages and Georgian is hard (but then so is Thai, I am equally bad at both).
@369 I think you underestimate the inertia. I find Bitcoin about the least useful cryptocurrency I've used, but people want to store value in it. Why does USDT have 450x the market cap and 20000x times the volume of PAXG, which︀ has better trust and is backed by a better asset? Brand.
@369 I think you underestimate the inertia. I find Bitcoin about the least useful cryptocurrency I've used, but people want to store value in it. Why does USDT have 450x the market cap and 20000x times the volume of PAXG, which︀ has better trust and is backed by a better asset? Brand.
Because of its usability and liquidity on exchanges.
Bitcoin is going to die once︂ governmental digital money will be established.It will raise a final time caused by people fleeing︃ from negative interest and after that they will be milked by the professionals.
You first︄ need to understand that behind bitcoin are governments.After that you need to understand their agenda.Else︅ you will be milked.
There is a nice sentence which i learned when i was︆ young.
People who run after the herd will only eat their waste.
I lost a︇ lot in the dot com bubble realising that all that hype is fake caused to︈ milk the citizens by professionals.Bitcoin is nothing diffrent.Once it finishes its purpose it will tank︉ heavily.
Bitcoin is going to die once︂ governmental digital money will be established.It will raise a final time caused by people fleeing︃ from negative interest and after that they will be milked by the professionals.
You first︄ need to understand that behind bitcoin are governments.After that you need to understand their agenda.Else︅ you will be milked.
There is a nice sentence which i learned when i was︆ young.
People who run after the herd will only eat their waste.
I lost a︇ lot in the dot com bubble realising that all that hype is fake caused to︈ milk the citizens by professionals.Bitcoin is nothing diffrent.Once it finishes its purpose it will tank︉ heavily.
How do you come up with your nice conclusions about︁ these (wild conspiracy?) theories and can I get into that agenda as well?
Amazon also︂ went bankrupt during dot com if I am correctly. 😉
Amazon also︂ went bankrupt during dot com if I am correctly. 😉
Reading reports and knowing who created Bitcoin.
JPM Morgan bank was trading bitcoin already in 2011 where reports showed they logged on average about 50 times per day on bitcoin exchanges.
Its called a distribution.That's a 101 traders knowledge .
A good example NKLA which made a contract with a bank for distribution of their new shares.Price of NKLA skyrocket to $94 and when the distribution phase ended the price went down to $11 .
It's common practise.Dot com was also to raise capital for new companies and just a few would make it.
At crypto it won't be diffrent however it will be fully︀ regulated cryptos like sto's but for sure not bitcoin.
You can tank bitcoin today just︁ with it's financial tools like paper bitcoin which is not backed by anything.
KYC on︂ all exchanges will kill it anyways.Also it's a clear Ponzi.I always laugh reading the noobs︃ how they defend bitcoin that its not a ponzi but money.
It's as long valuable︄ as long as the elite wishes and nothing else.
It will get milked like the︅ dot com stocks and after 5-10 years there will be some big tokens coming out︆ which doesn't exist today which will be fully comply and regulated.
If you claim something︇ diffrent than you have no clue about crypto and how it works
Btw just because︈ you are uneducated it doesn't mean it is a conspiracy.I guess you call everything you︉ don't know a conspiracy to add some value to your poor education
JPM Morgan bank was trading bitcoin already in 2011 where reports showed they logged on average about 50 times per day on bitcoin exchanges.
Its called a distribution.That's a 101 traders knowledge .
A good example NKLA which made a contract with a bank for distribution of their new shares.Price of NKLA skyrocket to $94 and when the distribution phase ended the price went down to $11 .
It's common practise.Dot com was also to raise capital for new companies and just a few would make it.
At crypto it won't be diffrent however it will be fully︀ regulated cryptos like sto's but for sure not bitcoin.
You can tank bitcoin today just︁ with it's financial tools like paper bitcoin which is not backed by anything.
KYC on︂ all exchanges will kill it anyways.Also it's a clear Ponzi.I always laugh reading the noobs︃ how they defend bitcoin that its not a ponzi but money.
It's as long valuable︄ as long as the elite wishes and nothing else.
It will get milked like the︅ dot com stocks and after 5-10 years there will be some big tokens coming out︆ which doesn't exist today which will be fully comply and regulated.
If you claim something︇ diffrent than you have no clue about crypto and how it works
Btw just because︈ you are uneducated it doesn't mean it is a conspiracy.I guess you call everything you︉ don't know a conspiracy to add some value to your poor education
lol 😉 how about posting some of your precious reports instead of just flaming︉ around like a teen boy?
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