6 ms·
Did you read the linked letter? It says the ban is specifically on crypto-mining that uses fossil fuel power plants but allows it using other power plants.
by marcinzm 4y ago
Did you read the linked letter? It says the ban is specifically on crypto-mining that uses fossil fuel power plants but allows it using other power plants.
- danuker 4y agoI did. It does not answer my question. Why not ban or penalize the cause of the pollution, rather than a customer of the power company?
- PM_me_your_math 4y agoBecause then someone would have to hold China to account, and too many US politicians are in China's pocket.
- marcinzm 4y agoThis is about crypto-mining operations that are running power plants that would otherwise not run. So to your point they are in fact banning the source of the pollution which is fossil fuel power plants. You're still free to pay market rates from the grid for your crypto-mining operations.
- danuker 4y ago> that are running power plants that would otherwise not run No, it says "that are operated through electric generating facilities that use a carbon-based fuel". How is using the grid not banned? Does grid energy not use carbon-based fuel?
- marcinzm 4y agoNo, a letter summarizing a law says that, the law itself says: >Section 2 places a moratorium on air permit issuance and renewal for an electric generating facility that utilizes a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric energy consumed or utilized by cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions.
- thaumasiotes 4y ago> It says the ban is specifically on crypto-mining that uses fossil fuel power plants but allows it using other power plants. https://dilbert.com/strip/2006-02-19 https://dilbert.com/strip/2006-02-19
- BlueTemplar 4y agoMethane is not as fungible though, there's a significant cost to move it, especially via liquefaction. Also, as the price of oil goes down because Dilbert (et al.) refuse to buy it, the marginal oil producer (probably US tight oil, ironically, since about 2006) gets priced out of the market, resulting in a decrease of production.
- thaumasiotes 4y agoElectrical power is far more fungible than oil is. If you have a disfavored sector of the economy that isn't allowed to use electricity from fossil fuels, and a favored sector that is, the effect on how much electricity your economy consumes from what sources will be zero until the amount of electricity needed by the disfavored sector exceeds total non-fossil-fuel-based production.
- BlueTemplar 4y agoNo, most of the economy is far more disconnected electricity-wise. And consider what kind of infrastructure it would take to be able to send electricity between, say, Spain and New Zealand !