Tag: Norway

According to a report published by Norway’s largest distributed newspaper Aftenposten, November 21, 2018, the Scandinavian country’s government has decided to do away with electricity subsidy provided to bitcoin mining entities. Bitcoin Mining Haven No More Subsidized electricity rates in the country made it an attractive destination for cryptocurrency miners the world over to set up their mining operations. This is evident from…

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Prompted by the decline in cash usage, Norges Bank, a central financial institution of Norway, is looking forward to developing its own cryptocurrency. As per Norges Bank’s recent report, dubbed the “Central Bank Digital Currency”(CBDC), plans to act as an alternative to fiat currency to “ensure confidence in money and monetary system.” Other central banks are also analyzing the possibility…

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Over 100 individuals have purchased plots of land in the “private city” of Liberstad, Southern Norway. The libertarian enclave announced the sale of land for bitcoin in August 2017. Arrangements have been made as of now with future inhabitants from Brazil, Sweden, and the UK, among different nations. Its organizers acknowledge 27 digital currencies and they ought to have the…

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At a time when some world powers are are doing everything to make bitcoin mining as unprofitable as possible by charging miners outrageous electricity bills, Norway has left its doors wide open for all Hodlers to troop enter. Now, Bitfury is establishing a multimillion-dollar bitcoin mining datacenter in the crypto friendly nation. Bitfury’s Expansion Bitfury, the U.S.-based full-service blockchain company…

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A non-profit organization, Liberstad Drift AS, has launched a tax-free private city named Liberstad. Located in Tjelland, which is part of the Municipality of Marnardal in rural Norway, the city is based on Libertarian principles and highly encourages the use of bitcoin and other cryptocurrencies. Liberstad Drift AS is composed of a small team headed by John Toralf Holmesland. The…

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Norway’s largest bank, DNB, has suggested that the Ministry of Finance ban the circulation of cash, as a part of the nation’s major initiative to reduce black market sales and financial crimes like money laundering and fraud. “Today, there is approximately 50 billion kroner in circulation and [the country’s central bank] Norges Bank can only account for 40 percent of…

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