White House proposes 30 percent tax on electricity used for crypto mining
1–10 of 97 posts
Re: White House proposes 30 percent tax on electricity used for crypto mining
#2Thanks for sharing this article! Do you think this proposed tax will significantly impact the profitability of crypto mining?
Re: White House proposes 30 percent tax on electricity used for crypto mining
#3Thanks for sharing this article! Do you think this proposed tax will significantly impact the profitability of crypto mining?
Only if you consider 30% significant.
Re: White House proposes 30 percent tax on electricity used for crypto mining
#4Wow, taxed based on how you use your computer huh? Doesn't sounds very American to me. What's next, taxed for fuzz testing? Taxed for using inefficient programming languages?
FWIW I do not support the crypto space either, but if they want to use a computer to run an infinite loop for the end of time that's their business.
Perhaps spending more effort on improving the power grid and using more renewable resources would be a better effort?
Re: White House proposes 30 percent tax on electricity used for crypto mining
#5Wow, taxed based on how you use your computer huh? Doesn't sounds very American to me. What's next, taxed for fuzz testing? Taxed for using inefficient programming languages? FWIW I do not support the crypto space either, but if they want to use a computer to run an infinite loop for the end of time that's their business. Perhaps spending more effort on improving the power grid and using more renewable resources woul…
Upon further reflection perhaps this is the most American thing that could be done...
The folks who got in early and made millions in Crypto reaped the benefit but no new comers could ever realize the same potential because we've taxed the snot out of it. Closed that loop hole (not that I have much faith in crypto anyway.)
Re: White House proposes 30 percent tax on electricity used for crypto mining
#6Is there even that much crypto mining happening in the US anymore?
Re: White House proposes 30 percent tax on electricity used for crypto mining
#7Wow, taxed based on how you use your computer huh? Doesn't sounds very American to me. What's next, taxed for fuzz testing? Taxed for using inefficient programming languages? FWIW I do not support the crypto space either, but if they want to use a computer to run an infinite loop for the end of time that's their business. Perhaps spending more effort on improving the power grid and using more renewable resources woul…
Upon further reflection perhaps this is the most American thing that could be done... The folks who got in early and made millions in Crypto reaped the benefit but no new comers could ever realize the same potential because we've taxed the snot out of it. Closed that loop hole (not that I have much faith in crypto anyway.)
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Re: White House proposes 30 percent tax on electricity used for crypto mining
#8How would you even enforce this? I think crypto is a huge waste of electricity but this is not the answer.
Re: White House proposes 30 percent tax on electricity used for crypto mining
#9Is there even that much crypto mining happening in the US anymore?
US mines more bitcoin than any other country. The big thing now is using natural gas from oil wells that are not connected to gas pipelines (it's not economical to connect them), so instead of flaring the gas off into the sky, they fuel a generator to power a bitcoin farm using essentially free electricity.
Re: White House proposes 30 percent tax on electricity used for crypto mining
#10Thanks for sharing this article! Do you think this proposed tax will significantly impact the profitability of crypto mining?
Spoiler: if they actually implement this and find a way to enforce it, the miners will just do it overseas.