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Who's "we"? Maybe you don't need it. Personally, I don't need golf courses, professional football or a new phone every year.
by louloulou 5y ago
Who's "we"? Maybe you don't need it. Personally, I don't need golf courses, professional football or a new phone every year.
- alkonaut 5y agoThose do have negative externalities too. They are extremely regulated in how those externalities are handled though (how many golf courses are built, where, what their environmental impact is and so on). I don’t see a problem allowing e.g one Bitcoin to be mined but that doesn’t mean it should be any easier to set up a mining shop than to establish a new golf course.
- louloulou 5y agoSure, all businesses are regulated within the jurisdictions in which they operate. But if I want to set up a mining machine in my house, I don't see how a government can say that running my heater is fine but running the miner is not.. are they monitoring my electricity usage down to the device level? How?
- alkonaut 5y agoCan you grow a ficus but not cannabis? Are they monitoring your gardening to the plant level? The answer I suppose is that a) what’s legal isn’t necessarily what can be enforced and b) just like no one would find your single cannabis plant, this is probably about industrial level mining where authorities have insight through permits for construction, permits for yearly emissions, use of cooling water and so on.
- louloulou 5y agoWell if it only applies practically to industrial level mining, I guess that's a good thing. Since it would decentralise mining and makes it more profitable for individuals who can freely ignore the law à la file sharing, cannabis, etc. Hopefully it will make the network more robust.