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> But the ban doesn’t impact individual cryptocurrency miners. > The legislation is specifically aimed at cryptocurrency mining companies in the state that con
by Panino 4y ago
> But the ban doesn’t impact individual cryptocurrency miners.
> The legislation is specifically aimed at cryptocurrency mining companies in the state that consume large amounts of energy by utilizing “proof-of-work”
Seems like the writing is on the wall for PoW coins and developers should prioritize switching to proof-of-stake like Ethereum did.
- Animats 4y agoThe economics are different for proof of stake. The SEC considers proof of stake coins to be securities, even if there's no "issuer". That's because proof of work miners are competitors in a market. Their goal is to stay ahead of costs. Proof of stake holders have a common desire to make the price go up.