The misunderstanding is in the companies that produce or buy it off-gird, the tax will be aimed at the companies that do that off-gird but are not limiting their production to the said mine, otherwise you would have nothing to tax since most large farms are directly connected to huge powerplants that have a direct contact with them. That's why the term particular is here:
" for example by using the output of a particular electricity generating plant,"
explain this statement:
The tax would also apply to crypto mining firms that generate their own electricity.put up solar panels to run your mine, you pay the tax. because you're generating your own electricity. that's what it says to me.
I have already explained it!
You are not purchasing and you are not owning an energy generation plant!
Also, I've quoted the proposal not the article of a biased about the proposal!
That thing was written to close a loophole that all big players use, go to any of those and check their reports, mara, riot , core and you will see they are using grid plus private generation, but that private generation is from a powerplant that also resells excess energy to the grid.
I just love how a miner has to talk sense into some guys that don't even mine but are outraged by some headlines!
I can give you the perfect example why this whole mess started for it just look for Greenridge, a powerplant owned by atlas llc, it turned from a powerplant into a power plant plus bitcoin miner, then suddenly the company that owned just an electricity generation powerplant in NY, started buying datacenters in texas! You end up with electricity produced in NY that suddenly sells extra energy when the grip is at its limit in Texas
, but they are just a bitcoin miner, and they use their electricity for private stuff, but they also sell it...
Want another example:
Good, look at how riot cashed in millions:
If Biden wants to lose the election this a great way to do it. 14% of Americans own crypto, with closer to 20% in states like California.
That is a significant voting block with crypto being a major topic of discussion in the presidential debates. The last thing Americans need are more taxes.
Yeah and in
Theory 20% of Indians own crypto and 25% of Nigerians do so, yet I haven't seen one protest in the streets why they are enforcing bans on exchanges and ip bans.
If 14% that's 40 million let's say Americans own crypto 39 million of them don't even care about Bitcoin being pos of pow, they care about the numbers, just think for a moment, with 400k transactions a day it would take 100 days just for one tx per capita if the blockchain would be dedicated to Americans only.
Nothing will happen, and nobody is going to march in the streets for the miners!
Aso, another reality check, I'm fed up with the shit people throw at miners here, that we manipulate the fees, that we mine ordinals, that we dump coins, all that crap, I can't wait for the same people that accused miners of everything taking their banners and demanding that miners in the us would need protection from extra taxation. I have my popcorn ready!