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Your last sentence is where you go wrong: compensation is not a subsidy. If the government uses my land to build a highway, I am compensated because I lose some
by brutusborn 3y ago
Your last sentence is where you go wrong: compensation is not a subsidy. If the government uses my land to build a highway, I am compensated because I lose something of value. Subsidies are not an exchange but are one-way.
You are mischaracterizing the payments because you hate crypto.
- quickthrower2 3y agoIt is a subsidy signal. "Build crypto mining in Texas and your expected earnings are higher than anywhere else!" I don't hate crypto, I have some nuanced opinions on it. Happy to criticize and defend it, depending on the argument. Once you get to PoS there is a lot less wrong with it environmentally. Unlimited carbon-free energy infra (and silicon production infra too, along with proper recycling!) would also make it less of a problem, but obviously we are not there yet. And I say unlimited because PoW demands that difficulty goes up and up and up to bid up PoW assets.