251–260 of 578 posts
A simple move that would ban selling fossil power plants for cryptocurrencies mining purpose BUT allowing to do so for the carbon-neutral energy would be a win-win for both sides and will help the transition from carbon-heavy energy.
Simpler: ban banks and credit card companies from dealing with anything related to cryptocurrency
What you really want instead is a non-mined cryptocurrency.
Earlier quoted context omitted.
To me it seems like Bitcoin (and other pow cryptocurrencies) are almost like the climate change scapegoat for a number of social and economic issues that have seemingly come to a head recently to facilitate their rise. People mine because it is expensive, it isn't the other way around, so the real questions we should be asking in good faith are things like "Why it is profitable in the first place?" and I think it is…
Yes. Cryptocurrencies are used because they're the only market that hasn't yet been regulated to death. People come to Bitcoin for 2 reasons, mainly: 1. It's a practical way to store value without the government destroying it by monetary emission. 2. People are free to speculate. The solution to the first point is that governments should stop pulling the rug from under people's feet. Monetary emission should be predi…
It’s a simple equation: So long as there is more money in mining BTC than there is cost in energy to mine it, mining will proceed. No entity in the world can control the price of crypto. But, we can and already do regulate energy production. I think we need a carbon tax, that is specifically a financial disincentive towards any means of energy production that directly pollutes the atmosphere. Seriously, what are the…
The growth in supply would not slow - in Bitcoin every two weeks you have a rebalancing of difficulty, so if miners have less hashing power the difficulty of producing each block gets lowered to keep the supply stable.
Or more likely they’re outcompeted by anyone who doesn’t have to pay the tax, such as miners using green energy or in a jurisdiction without the tax.
It’s a simple equation: So long as there is more money in mining BTC than there is cost in energy to mine it, mining will proceed. No entity in the world can control the price of crypto. But, we can and already do regulate energy production. I think we need a carbon tax, that is specifically a financial disincentive towards any means of energy production that directly pollutes the atmosphere. Seriously, what are the…
To me it seems like Bitcoin (and other pow cryptocurrencies) are almost like the climate change scapegoat for a number of social and economic issues that have seemingly come to a head recently to facilitate their rise. People mine because it is expensive, it isn't the other way around, so the real questions we should be asking in good faith are things like "Why it is profitable in the first place?" and I think it is…
Since the global saving glut (1), the best question to ask of crazy asset valuations is not "does it reflect the fundamental value?", but "does the money have anywhere else to go?"
It’s a simple equation: So long as there is more money in mining BTC than there is cost in energy to mine it, mining will proceed. No entity in the world can control the price of crypto. But, we can and already do regulate energy production. I think we need a carbon tax, that is specifically a financial disincentive towards any means of energy production that directly pollutes the atmosphere. Seriously, what are the…
Paolo Ardoino would like a word with you.
Earlier quoted context omitted.
Here's the problem with this sentiment. Bitcoin isn't replacing anything. Not pre-existing fiat currency, not banks, nothing. Bitcoin only adds to the problem at an alarming rate. Bitcoin is certainly not a scapegoat. It's a massive problem and, largely, a symptom of human greed that must be put in check.
What a weird metric. The international space station isn't replacing anything, i still think its valuable.
https://www.nasa.gov/mission_pages/station/research/news/15_...
It’s a simple equation: So long as there is more money in mining BTC than there is cost in energy to mine it, mining will proceed. No entity in the world can control the price of crypto. But, we can and already do regulate energy production. I think we need a carbon tax, that is specifically a financial disincentive towards any means of energy production that directly pollutes the atmosphere. Seriously, what are the…
A carbon tax would be great, but I don’t know why you think governments couldn’t significantly discourage holding cryptocurrency? A wealth tax on proof-of-work currencies would discourage legitimate businesses (that don’t cheat on taxes) from holding them.
1. Do nothing, public gets angry.
2. Make bitcoin, or its mining, illegal. However, what is the criteria? All blockchains? Should google be illegal too? Both are just a digital product that the public wants.
3. Tax CO2 production by data centers, that might have a chance it can be coordinated broadly between nations, there is enough money there to tax, and bitcoin adds some urgency.
While doubtful CO2 can be taxed globally, without coordination, big companies play governments against each other.