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Crypto mining, specifically. Title needs to be updated.
> Our conclusion is that policy measures are required to address the harms caused by the proof of work mining method. It is important that both Sweden and the EU can use our renewable energy where it provides the greatest benefit for society as a whole.
Crypto mining, specifically. Title needs to be updated.
Now electricity prices are rising a lot, especially on days when there is little wind (which generally is the case on extremely cold winter days), and emergency power plants using fossil fuels are running a lot more than before.
So now they are going to blame something else, just like any other politicians in any other country would.
I hope this gets some traction in other places too. I actually have to give China credit for making the right moves there, given our climate disaster, crypto is a doomsday cult as long as proof-of-work is a thing.
The basic idea of the economy is people can earn the right to energy, and then direct it to a goal of their choosing. The government making a value judgement about what type of commercial activity is worthwhile is extremely risky. Countries with innovative financial and credit systems have historically steamrolled those that don't have such innovations. We still don't understand the nature of crypto.
The background is this: The Swedish government (of which the green party is part) has closed down several nuclear reactors and there is a ban on building more hydro electric dams. Before Sweden had about 50% hydro + 50% nuclear. Now electricity prices are rising a lot, especially on days when there is little wind (which generally is the case on extremely cold winter days), and emergency power plants using fossil fuel…
but somehow they decided to blame crypto-mining instead of excessive house heating and refusal to wear sweaters indoors. funny that.
Proof of work for mining should pay hefty carbon tax. Various other industry already pay that tax, why not mining crypto? Crypto fans make various claims, so lets check that. E.g. Any new etherum block carbon footprint would be verified through oracle and smart contracts. Based on that it will be subject to tax that will go to carbon-capture companies. With that incentive, crypto could innovate to better methods and…
What you are describing penalizes somebody who uses clean energy for mining and ignores somebody who uses coal power for running his bot farm.
They lower the stored capacity and pay cheap price for that which results later the general population and other industry having to pay much higher cost of electricity, while they probably stop buying it, thus not taking their fair share of costs.
"If we were to allow extensive mining of crypto-assets in Sweden, there is a risk that the renewable energy available to us will be insufficient to cover the required climate transition that we need to make. This energy is urgently required for the development of fossil-free steel, large-scale battery manufacturing and the electrification of our transport sector. Based on estimates from Cambridge University, it is cu…
The background is this: The Swedish government (of which the green party is part) has closed down several nuclear reactors and there is a ban on building more hydro electric dams. Before Sweden had about 50% hydro + 50% nuclear. Now electricity prices are rising a lot, especially on days when there is little wind (which generally is the case on extremely cold winter days), and emergency power plants using fossil fuel…
>So now they are going to blame something else, just like any other politicians in any other country would. but somehow they decided to blame crypto-mining instead of excessive house heating and refusal to wear sweaters indoors. funny that.
Singling out one non-essential for its use of energy and banning it, while leaving all others legal, makes no sense. Doing so is a case of scapegoating one small facet of a larger phenomenon, instead of addressing the root problem.