3 ms·
I agree that we should try to implement global fines/taxes/fees/whatever on the externalities of society (be it electricity, manufacturing, dumping, litter, etc
by Taek 5y ago
I agree that we should try to implement global fines/taxes/fees/whatever on the externalities of society (be it electricity, manufacturing, dumping, litter, etc).
I disagree that it would have a significant impact on PoW. PoW is already one of the cleanest energy industries in the world, and it's also entirely price insensistive. PoW is going to consume billions of dollars of electricity per year at any price. An external tax of 50% would cut energy use by nearly a third, but it wouldn't do any more than that.
And I should add, PoW would be absolutely happy with such a fee in place. It really doesn't care how much electricity costs, it only cares that an attacker would also have to pay the same price.