Crypto Mining Electricity Excise Tax Should Target AI Instead
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Crypto Mining Electricity Excise Tax Should Target AI Instead
1–10 of 30 posts
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#2Such a "smh" opinion.
AI is useful. The vast majority of crypto are just scams and unregistered securities. Crypto mining is wasteful.
Are you going to tax whenever people who use the neural engine inside the iPhone? Makes no sense to tax AI energy use.
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#3Or neither because it's a bad idea.
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#4You cannot tax the biggest innovation and edge technological topic right now which is AI, where every big discovery matters and can put the whole country on top of the global economy, much like what happens with the semiconductor industry. If anything, the government would cut down taxes to boost innovation.
Government wants to tax crypto because they don't like crypto, because it consumes too much electricity for what it has proven to provide to the users and the economy, at least for now.
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#5> If the goal is to offset climate change, there are cheaper, higher-value targets. Two good places to start: Tax the electricity usage of data centers and artificial intelligence.
No, the best goal for this is to tax carbon.
Obviously a crypto tax is as much about politics as it is about climate change. Most people loathe crypto after the last 2 bubbles and your average news-savvy person can roughly describe why bitcoin and NFTs are a waste of electricity, meanwhile the crypto industry itself isn’t doing great and likely won’t be politically influential, making it a great target. (Unlike say 2021 when a bunch of people were investing in it).
Great optics and little to no actual damage to the constituency, I.e good politics
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#6Should Target banks operating branches & ATMs as well
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#7You cannot tax the biggest innovation and edge technological topic right now which is AI, where every big discovery matters and can put the whole country on top of the global economy, much like what happens with the semiconductor industry. If anything, the government would cut down taxes to boost innovation. Government wants to tax crypto because they don't like crypto, because it consumes too much electricity for wh…
I dislike crypto but proof of stake completely eliminates this argument. I also realize we can’t expect politicians to be making laws that are relevant on a 10 year timeframe so I understand their actions.
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#8Electricity does not inherently produce carbon, which I'm told is the problem with warehouses full of GPUs churning constantly for trivial playthings.
Tax the carbon, tax overdraft fees, and tax the eons my money spends floating around the financialverse doing whatever it does instead of going from A to B in less time than it took the Pony Express to send a letter across the country.
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#9You cannot tax the biggest innovation and edge technological topic right now which is AI, where every big discovery matters and can put the whole country on top of the global economy, much like what happens with the semiconductor industry. If anything, the government would cut down taxes to boost innovation. Government wants to tax crypto because they don't like crypto, because it consumes too much electricity for wh…
I don't think that's the main reason they don't like crypto.
Re: Crypto Mining Electricity Excise Tax Should Target AI Instead
#10Such a "smh" opinion. AI is useful. The vast majority of crypto are just scams and unregistered securities. Crypto mining is wasteful. Are you going to tax whenever people who use the neural engine inside the iPhone? Makes no sense to tax AI energy use.
Indeed, AI is useful whereas Crypto mining is wasteful.
Furthermore, carbon tax is a bad idea, as it is regressive, (further) inflation generating, and ends up benefiting polluters from markets with poor regulation - just to list a few disadvantages.
Direct government investment and projects like a Green New Deal would be much more helpful for the Environment.
But I think the OP is mostly concerned about their deflated crypto portfolio...