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Congress might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining,” so how would they e
by gwnywg 4y ago
Congress might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining,”
so how would they enforce this? by running escrow on every single server to ensure this particular algorithm is not executed..? or would they simply measure energy consumption by the server and demand proof that the load is legitimate?
- perlgeek 4y agoCompanies might simply have to sign statements that they aren't doing forbidden mining, and in doubt auditors are sent.
- danuker 4y agoSo, private citizens are not subject to this potential law?
- gwnywg 4y agoHow would they audit and who would pay for it?
- liketochill 4y agoWhere does companies revenue come from? Do they have servers in their data centers or obvious mining rigs?
- gwnywg 4y agoWhere I live you don't declare where revenue comes from, tax man only requires to declare how much revenue was made. Maybe it's not how it works in US? On the other hand I did not know there is specialized hardware you can only use for mining cryptocurrency, this would be clear evidence.
- plankers 4y agoenforcement would probably happen at the level of the power utility. large mining operations have agreements with utilities to buy power at wholesale prices, the utilities know what the power is being used for the real beneficiaries of this would be small miners (small business owners?) who either use their own locally generated power or the residential grid. oh, and all the people who don't mine in the US
- gwnywg 4y agothe utilities know what the power is being used for I did not know this, sounds like something I would probably not do if I was running such company... why would utility company need to know what I'm using energy for..?
- blfr 4y agoCompanies have relationships with their large clients. They aren't just suppliers and more like partners in their business. Maybe it's different in strict commodity markets but this knowledge also allows you for better cooperation. From little things like when to set service windows to large infrastructure investments for which you might want some buy-in before they happen.
- Jensson 4y agoElectricity is a limited and vital resources so usually it is tightly regulated who gets to use electricity. If the government doesn't like what you say you will do with the electricity then you wont get more than a typical home connection.
- drakythe 4y agoBecause they need to forecast power requirements ahead of time. Maximum efficiency of resources is not just smart for greenhouse emissions it is smart for not spending more money than necessary to supply power. Additionally, they need to know which clients to restore power to first (hospitals and essential services) and who can wait (commercial buildings on a weekend? Back of the line) Note: it isn’t that they know exactly what the power is used for, but they sure know the general purpose (residential, industrial, critical service, tech, etc)
- deleted 4y ago[deleted]
- stjohnswarts 4y agoI wouldn't worry about it. The republicans can block it in the Senate for the foreseeable future, and I have zero doubt this would be an executive order that would be struck down by the SCOTUS the day after it was announced. I think it's safe to say that the SCOTUS is a rubberstamp for republican policies these days.