Topic: Bitcoin mining ban in Europe - page 4. (Read 920 times)
Of course if Europe represents the amount of 1% enough to have an impact on Bitcoin especially its price. It's just that behind the policy I am quite suspicious that people who have control over the policy are leading an opinion on the availability of energy which is now increasingly narrowed. Russia has also cut its supply to Europe where other energy has been forced to save.
https://www.coindesk.com/policy/2022/10/18/eu-countries-must-be-ready-to-block-crypto-mining-commission-says/
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"
Can this affect the price of bitcoin or is this another anti-mining statement?
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"
Can this affect the price of bitcoin or is this another anti-mining statement?
From a particular angle i think it won't but 10% is not a small number that can effect the Network in my Openion still i think network is way more distributed. In the term of price fluctuation i think it won't be much aggressive as i think maximum of the captulation is done on JULy and then in September so i can feel that it won't effect any much.
Lets watch as i was expecting some good News but here it is one more bad news.. Bht nothing to worry 😉 as News is news haha atleast BTC is still being discussed which can be a +ve point.
miners have just relocated their operations or sold their mining equipments to other users.
Exactly what will just happen. all heavy miners will just have to relocate to somewhere safe, if the equipment will be heavy for them to carry then will have to sell it.
if not for the amount of energy that is being consumed miners can easily operate underground but the government will have to track energy usage.
So far as the miners are making a profit and they can't just close their businesses, they will just have to move their businesses to areas and places where they will be accepted with open arms.
And I don't even think it reduces BTC price in any way it will only slow down the amount of time it takes to complete a BTC transaction a little, which will make not much difference.
Can this affect the price of bitcoin or is this another anti-mining statement?
If it's only 10% as stated then VERY short term it might matter, but in the long run probably not.
Keep in mind that in that article they count all crypto mining and not just bitcoin so the actual percentage of bitcoin mining is even lower, meaning it would be even less of an impact.
in the past we have seen the ban of mining in China that was an huge amount of hashrate.
miners have just relocated their operations or sold their mining equipments to other users.
For what I have seen price has been interested in a short timeframe but after while this has not any real impact.
In this case, there is just a tiny amount, I don't see any real threat for btc price.
miners have just relocated their operations or sold their mining equipments to other users.
For what I have seen price has been interested in a short timeframe but after while this has not any real impact.
In this case, there is just a tiny amount, I don't see any real threat for btc price.
If it's only 10% as stated then VERY short term it might matter, but in the long run probably not.
There are enough green / renewable places to mine for people that want it. And enough other places that don't care where you can have mining farms.
And lets face it, no matter what you are never going to stop home mining and small operators. If you force the big players out of an area out it just means more and cheaper equipment for others.
-Dave
There are enough green / renewable places to mine for people that want it. And enough other places that don't care where you can have mining farms.
And lets face it, no matter what you are never going to stop home mining and small operators. If you force the big players out of an area out it just means more and cheaper equipment for others.
-Dave
Of a certain this can affect the price of Bitcoin. As we all know Europe is a very big factor in terms of its global Crypto-currency activities, so a ban to mining mining in Europe would really cause a very noticeable reduction in mining and may also affect the transactions confirmation timing.
Although realistically I don't this it's possible to completely ban mining in Europe, it just an informal way to make mining even more expensive and cut out some miners. But this topic would raise eyebrows to the importance of having more energy efficient way of mining
Although realistically I don't this it's possible to completely ban mining in Europe, it just an informal way to make mining even more expensive and cut out some miners. But this topic would raise eyebrows to the importance of having more energy efficient way of mining
https://www.coindesk.com/policy/2022/10/18/eu-countries-must-be-ready-to-block-crypto-mining-commission-says/
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"
Can this affect the price of bitcoin or is this another anti-mining statement?
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"
Can this affect the price of bitcoin or is this another anti-mining statement?
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