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It would still raise the cost of mining. And those countries that do not ban mining will face increasing pressure to do so, due to miners pushing energy prices
by rebuilder 5y ago
It would still raise the cost of mining. And those countries that do not ban mining will face increasing pressure to do so, due to miners pushing energy prices up.
But yes, an international treaty banning PoW crypto mining would be more effective. Then confiscate the equipment and use it to attack the networks.
- agilob 5y agoUnless they buy their own coal plant?
- louloulou 5y agoHow about an international treaty instituting a carbon tax, if C02 is what you actually want to minimize. Sounds like that's not the goal based on your comment though.
- VMG 5y agoHigh mining cost is what provides network security. I doubt there will be popular support for military interventions against Bitcoin. But if a "War against Bitcoin" were to happen, it would probably be as successful as the "War on Drugs" and "War on Terror"
- Jensson 5y agoIt would actually make the network more secure, since mining would shift from big industry players to local private users who mine from home electricity. You can't hide a power dependent business and poor countries lack the power production for significant mining operations.
- skohan 5y agoSecurity is the argument of last-resort for so many bad technologies.