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How do you ban PoW mining? Raiding every property with high electricity usage? This just becomes another war on drugs. Simply price the power higher and use tho
by SilverRed 6y ago
How do you ban PoW mining? Raiding every property with high electricity usage? This just becomes another war on drugs. Simply price the power higher and use those new profits to build renewable power sources.
- MereInterest 6y agoThe problem is that some uses of electricity are beneficial to society (e.g. keeping refrigerators running to prevent food spoilage). Others are detrimental to society (e.g. bitcoin's existence, allowing for the rise of ransomware). Raising the price uniformly across all uses does disincentivize the use of electricity, but some of that may be by not being able to have beneficial uses of electricity. I agree that raiding individual mining locations is counterproductive. Instead, go after the exchanges, where bitcoin is exchanged for real money. Without an economic incentive to mine bitcoin, the mining would slow down and stop.
- jimbob45 6y agoI just figured you could ban trading of it. What good is a token you can’t trade anywhere? And it’s not like BTC has any intrinsic value. The black market doesn’t care if it’s dealing in ETH or Dogecoin.