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You can't regulate Bitcoin mining. Bitcoin is not controllable in the same way as say, rare earth metal mining, where you can exert pressure on whoever is minin
by z77dj3kl 6y ago
You can't regulate Bitcoin mining. Bitcoin is not controllable in the same way as say, rare earth metal mining, where you can exert pressure on whoever is mining them (or whichever nation is exporting them). There's very little any government can do to pressure a mining farm in Far East Russia or Northern China to use green power for their operations.
You can do Bitcoin mining almost completely offline. Once that magical hash that satisfies the proof-of-work requirement appears, there's no tracing to where it was produced.
- PurpleFoxy 6y agoThat’s why a generic carbon tax should be used. There is no point punishing Bitcoin mining because bitcoin mining isn’t inherently bad, it’s the burning of fuels that is bad. Countries should then tax imports from other countries that do not have a carbon tax.
- jude- 6y agoIt's pretty hard to hide the fossil fuel-burning power plant generating your PoW. If your local government or citizens won't stop you from polluting the environment, other governments can impose retaliatory tariffs or even sanctions on your government, and citizens of other countries can boycott your country's goods and services. Make the financial penalties for tolerating fossil fuel-burning PoW steep enough, and your power plant gets shut down.
- ForHackernews 6y agoShutting down exchanges that deal in bitcoin would nicely eliminate bitcoin. Nobody is going to mine an unprofitable coin they can't sell, and except for a tiny number of black market sellers, nobody wants to deal in BTC itself.