4 ms·

Carbon tax fixes this?

• wkat4242 3y ago
  Not really. It just increases the price on it. After all energy is not free as it is. The proof of work scheme will lead to an ever-increasing energy usage. It's just hardcoded into the system. Carbon tax will just price it so that it will accelerate a bit slower.
  • microtherion 3y ago
    If you could implement a perfect global tax system, a high tax on energy used specifically for mining would be a good solution. Proof of work is designed to force miners to spend a given amount per bitcoin mined, and it doesn't matter whether that amount is spent on energy or taxes, so the tax would not actually cause any economic cost to miners. Unfortunately, such a scheme would highly incentivize cheaters, or countries opting out of the tax collection.