Is this for real? - page 2. | Bitcointalksearch.org

fullhdpixel

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Quote from: Findingnemo on February 25, 2022, 07:18:57 AM

Probably he is holding lot of PoS coins and missed out investing on PoW at the earliest stages so he wanted to make everyone wrong. Roll Eyes

Does government knows the difference between PoW and PoS? I don't think so.

Lol, that’s quite a funny question Cheesy

. Literally just anyone can know what PoW cryptocurrency is by googling it, you know right? So there isn’t much difficulties in doing that. But would it have any effect if they should go ahead and do it? I guess not, because EU is jot the only place there is in this world. Would they do it?

We are not sure, because we also know that there would definitely be people in there at the top who are fully in support of cryptocurrency like Bitcoin and are ready to kick against any suggestion like that. For now we would wait and see if it would happen. But, I feel that it is something that is unlikely to happen? I hope so.

Tellek Garing

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Quote from: BlackHatCoiner on February 25, 2022, 12:08:27 PM

"Vice-chair of the European Securities" and he spits such giant bullshit. It's definitely not recommended to read the crypto-news,

I started giving up on cryptocurrency news already as their title tends to always spike panic and spread FOMO, I rather read an article that seeks to make more clarification on the subject matter and also proffer a solution to a situation such as this.

Bitcoin is part of the proof of work and bitcoin is a decentralized tool that can not be banned just like that, there are so many challenges faced by proof of work, and scalability in the future will resolve all the many challenges faced by POW.

Pelana vreo

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This article is real and no country can ban POW systems, unless they disable the Internet.

If the reasons for refusal are the same as what Elon Musk said, then I can ask those who reject it, how much gas emissions are produced by power plants and mining factories that use heavy equipment to destroy the Earth by dredging gold and other things, because so far technology is constantly being developed and no one can stop it because everything is transparent

awik p

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Quote from: Rahman11 on February 25, 2022, 12:48:39 PM

In Europe for instance, cryptocurrency, and cryptocurrency mining are largely considered legal. ... More specifically, Thedéen and Risinger said Bitcoin mining alone has consumed the equivalent amount of electricity of 200,000 households.

Isn't there a bad effect for all countries in the world when Bitcoin mining continues to be carried out by some people or miners ? because the legalization does look very good but there also needs to be a little study of the effects of it.

this is a technological development, and if it can't be stopped, of course the government must look for alternative sources of electricity, so that later it can compete with other countries in the world, after bitcoin is growing. let's just imagine an industrial factory that also consumes a lot of electricity, and we can assume mining is like that too

darewaller

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This isn’t really something to be scared of. If EU should ban PoW cryptocurrency, they are only banning for themselves, the PoW will still continue in other places around the world except for the EU. So, it doesn’t mean the end of the ‘world’ for the Bitcoin. This is not the first time that we are seeing a country ban Bitcoin mining, when it happens the mining continues in other locations where the condition is favourable and that is simply it.

I have seen the news as well and yes it is real, they have been proposing a ban for Bitcoin. But let’s hope that it never gets to work out for them, and hope for the better. If it does happen, it’s likely that Bitcoin would be the one that would be affected. Ethereum is moving to PoS, and we don’t know for Bitcoin, but how we are seeing it, nothing is changing for now I guess.

Gayong88

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The algorithm appears to be an attempt to come up with something new and original, but it may not be as effective. In my opinion, BTC is a currency that is independent of the main issuer because bitcoin actually uses a database to be distributed to nodes from the network to the transaction journal and bitcoin actually uses a database to be distributed to nodes from the network to the transaction journal. In terms of maturity, this algorithm lags behind PoW and PoS. So, just want to see the reaction if you look at the discourse.

WalkerIVIV

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I hope that this was just a suggestion from the member of parliament. Bitcoin can't be banned and im sure they do know about this but the problem is bitcoin mining needs to be more concervative. He must also take a look at another sector and how many energy being wasted for nothing. People should not feel worry about that caused by this suggestion will never be a real thing soon.
I expect people will forget this. Bitcoin will still alive even this thing will happen.

TravelMug

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It's not yet implemented though, so we don't know if EU will totally ban bitcoin and it's mining or not. But you know what, the argument is pretty lame, I mean this is the same argument about POW and mining against BTC for many years and yet bitcoin is still standing.

And if they ban it then someone and somewhere, bitcoin mining will continue to thrive and make money for businessman and investors.

ajochems

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Quote from: Little Mouse on February 25, 2022, 11:39:19 AM

That's a recommendation, not a decision lol.
I don’t think that's going to happen ever that we will see bitcoin banned. But even if it gets banned by regulatory body, I believe the use will not decrease, instead it will have negative marketing impact. Bitcoin isn’t legal in Bangladesh but we are using that.

It was not a legal in many of the country and people using it for their survival. The negative marketing on bitcoin should be omitted here. Most of peopke here will be hunters as well as the investors and ecen a new people to forum. Should not have a look on this. Over a year, price of bitcoin crossing new moon. So the survival percentage of the bitcoin was increasing daily and not reduced for the purpose. Holding also need one for profit.

StarKay

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The regulators are trying to stay relevant by always going after cryptocurrency despite not having the legal mandate to do so, there are a thousand and one problems facing them directly but they'll rather dabble into Crypto, who knows if it is an attempt to manipulate the price.

No one can ban PoW or Bitcoin in a civilized society, all they can do is stop banks from processing crypto based transactions.

cryptoaddictchie

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This is more like a suggestion but who will agree to it anyway. There woukd be chaos bannign those PoW since bitcoin running on it. Is there anyone would not complain if ever this would happened? (never anyway). First of all, bitcoin is decentralized even though they ban it on centralized exchange btc would thrive on other ways. This is purely an incoming fud. We all knew this would never happen.

Rahman11

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In Europe for instance, cryptocurrency, and cryptocurrency mining are largely considered legal. ... More specifically, Thedéen and Risinger said Bitcoin mining alone has consumed the equivalent amount of electricity of 200,000 households.

mindrust

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If they ban PoW and mining, Bitcoin can adapt to the new normal, ditch PoW and use PoS instead. There are many coins that use PoS and have no problems. PoW is not something we should rely on forever especially now bitcoin is using as much electricity as a small country does. Oil/energy prices are climbing too lately and that's is going to make PoW chains a target for the governments.

wxa7115

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Quote from: DevFile90 on February 25, 2022, 03:58:08 AM

If PoW algorithm is banned how will BTC thrive? Is that even possible to begin with because the only crypto project that will die PoW is BTC so why is EU securities regulator trying to place ban on PoW algorithm?

Yes, it is real, you need to understand that a great deal of the politicians are not really experts at anything and they just got where they are because of their connections, so there are two possibilities, this is just another attempt to ban bitcoin but they are doing so in such a way to avoid even saying its name or this is an attempt by the environmentalists to try to protect the planet, or at least that is what they think.

In the first case scenario there is not much to comment as we know that many governments around the world want to ban bitcoin because they are trying to protect their fiat, and in the second case those people are misguided, it seems they want us to go back and live inside caves while we barter with each other instead of living in an advanced society.

BlackHatCoiner

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Farewell, Leo

"Vice-chair of the European Securities" and he spits such giant bullshit. It's definitely not recommended to read the crypto-news, I'm usually frustrated by these articles. Where there's money, there's manipulation. I can think of a thousand reasons why this article exist rather than to "inform" us. We've heard of this before, but in reality they can't do a shit. I doubt if any of those gentlemen has contemplated the aspects of PoW and PoS.

Interests, interests, in-te-rests!

VRExpress

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Banning PoW algorithm means taking the fight to BTC I don't see how they can do this because BTC stands alone with no borrowed power from any entity or centralised organisation, thanks to Satoshi well this is only a recommendation it's not that serious.

amishmanish

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You cannot ban PoW.

You cannot ban Bitcoin.

What does it even mean to ban PoW currencies like Bitcoin?

Banning two unbannable things at the same time does not change the outcome. If EU bans it, what will happen most likely is that people will simply either cold-wallet their BTC (as it'll still keep functioning due to PoW capacity elsewhere), or wrap them into some ERC-20 or token on other PoS chain to be used as collateral. There is no way that such a "ban" can come into practice.

Little Mouse

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That's a recommendation, not a decision lol.
I don’t think that's going to happen ever that we will see bitcoin banned. But even if it gets banned by regulatory body, I believe the use will not decrease, instead it will have negative marketing impact. Bitcoin isn’t legal in Bangladesh but we are using that.

batang_bitcoin

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The question should be, what's next after banning PoW? They'll ban bitcoin? How are they going to implement that ban for all of the miners that are designated in different parts of the world?
That doesn't make sense even if they impose any ban for bitcoin and for pow. They just can't cover the whole world with that type of policy. So any ban that happens for bitcoin, it's just for an specific place but in other places, it doesn't have much impact.

X-ray

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It's more likely as a suggestions rather than a regulation to be ban POW coin. I will take this as a draft rather than something that already implemented. You must not feel worry and shill dude. This is something that you didn't need to feel worry. bitcoin is dead so many times and it was coming again and again since the decentralized system can't be disrupted with only using the regulation as a way to prevent it. CHN was far aggresive compared with EU. I hope that miners will be migrating to the renewble energi to change people's mind about that. It seems like another confirmation news about this rumour will be needed to drive the sentiment of the market.
Since bitcoin was true decentralized and im not even worry with this.

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