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Topic: Sweden proposed to ban mining in the European Union - page 3. (Read 393 times)

legendary
Activity: 3668
Merit: 6382
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It would have been nice to add a source. I've found this one: https://ambcrypto.com/swedens-fsa-calls-for-energy-intensive-mining-of-crypto-assets-to-be-prohibited/

Quote
Sweden needs the renewable energy targeted by crypto-asset producers for the climate transition of our essential services, and increased use by miners threatens our ability to meet the Paris Agreement. Energy-intensive mining of crypto-assets should therefore be prohibited.

I find it overly harsh, but I also expect some of the politicians join this kind of movements especially now since the Methane and electricity prices rose so high (imho exactly because of politics not well thought, but implemented in a hurry). I fail to understand how on earth they cannot see that if they ban it, they will only make it illegal, not actually stop it.
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
I don't know if PoS is as secure as PoW (eg if someone holds a lot of one currency) but I also doubt this will be a universal thing for all other countries to follow and that might be the problem - the EU already get more than half of their energy from renewable resources (wherever those miners move to might not).
newbie
Activity: 42
Merit: 0
At first, the headline elicited a "what?"

Then I read this:

"Swedish regulators believe cryptocurrency mining will prevent the country and the EU from complying with the Paris agreement on climate change
 
And again "come on"

But then it turned out that officials called for a ban in the European Union for mining cryptocurrencies using the Proof-of-Work algorithm.

In general, okay, Ethereum developers are already planning to abandon PoW in favour of the Proof-of-Stake algorithm, what will happen with other coins, will they also switch to a new algorithm or will they blow off these news?
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