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Allright. I bite. Why is the energy cheap enough, to make big mining operations profitable? Why isn't it taxed if it is needed elsewhere. What happens, if there
by razemio 3y ago
Allright. I bite. Why is the energy cheap enough, to make big mining operations profitable? Why isn't it taxed if it is needed elsewhere. What happens, if there is to much energy being produced by plants? Why is it, that sometimes electricity gets sold for negative rates.
I am not a hardcore bitcoin fan, but I giggle a little when those transactions versus energy consumption arguments come up.
Maybe my views are wrong, I would love to check if somebody can change my opinion on this topic.
- octacat 3y agoEnergy could be taxed higher, but it would make other users (like regular people) of energy unhappy. So far energy is "cheap", but it does not cover the total eco damage it makes.
- razemio 3y agoYou could tax mining. Sure, this won't stop private miners, but it is impossible to hide a big mining operation, if you are using the public grid. Most of them are using their own solar anyway, so I am not sure what all this fuss is about.
- octacat 3y agoWe do not know what kind of generation they use. Probably the cheapest one. We do not know who operates them (probably people who have a lot of money). And they do not produce their own panels, driving cost up for other people on the free market. They would not tax mining/crypto though, because gov is interested in it. And it would be sold to people like "freedom" (but would be used by people who has a lot of money for speculation/tax avoidance).
- octacat 3y agoRegulating mining would be a responsible economic policy. Like not printing money. Or regulating speculative markets (derivatives). But we currently doing our best to be least responsible :)