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I've been avoiding this discussion on HN for months now because most of it appears to be in bad faith / wholly misinformed. But okay, I'll bite. > there is no
by mhluongo 6y ago
I've been avoiding this discussion on HN for months now because most of it appears to be in bad faith / wholly misinformed. But okay, I'll bite.
> there is no way to tax them
You put a heavy tax on power consumption. Done.
> just move to somewhere with less environmental controls
Crypto isn't the first industry to take advantage of tax arbitrage. By this logic, few businesses should run in the US.. and yet the only ones commonly taking advantage of havens and tax arb are larger orgs with the resources to structure.
Business and money are fluid, but not that fluid.
- paulgb 6y ago> Business and money are fluid, but not that fluid. Manufacturing and moving physical goods is not fluid, but creating and transferring a fungible, pseudonymous asset is. It would be possible for a country to block or put a tariff on imported goods from a country that didn’t do enough to curb carbon emissions, but it wouldn’t be possible to block imports of crypto without overstepping.
- Retric 6y agoMiners outside the US are paid by US investment into crypto. It’s an externality with multiple solutions, but increasing the cost of electricity in the US does nothing.
- quickthrower2 6y agoHow do you politically get the world to agree on a power consumption tax? I like the idea but it seems unlikely at a global level.