They will try to stop Bitcoin - page 5.

kotajikikox

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Quote from: Brus123 on November 14, 2021, 07:50:33 AM

I think that when renewable energy will be widely used even to mine Bitcoin. People will be more calm and optimistic about Bitcoin. While it is being mined consuming so much dirty energy that pollutes our environment, there are a lot of people and organisation that are against crypto, but I think that it will become greener soon and people will change thier tune.

Renewable energy is what Miners need to make through so Bitcoin mining wont cost any energy from the supposedly for Houses consumption .
While there are some who use already those energy (renewable) yet only few has the option , also Solar energy is now making more option to use (as some of my friends using this to mine).

Ozero

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Quote from: Brus123 on November 14, 2021, 07:50:33 AM

I think that when renewable energy will be widely used even to mine Bitcoin. People will be more calm and optimistic about Bitcoin. While it is being mined consuming so much dirty energy that pollutes our environment, there are a lot of people and organisation that are against crypto, but I think that it will become greener soon and people will change thier tune.

No, it will be easier for states to completely prohibit the mining of cryptocurrency that uses the energy-consuming PoW algorithm and they will not understand whether it is used, say, when mining bitcoin, pure green energy or not. Even if miners use renewable energy sources, greenhouse gas emissions will still occur. The situation with climate change has been raised very seriously and the states will cut very hard.

ropyu1978

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maybe at this time all parties are trying to stop bitcoin in any way where many countries oppose bitcoin for their people, but in reality this cannot be realized because bitcoin cannot be stopped by countries in the world today, for example, what has been done by China, where they strongly oppose the circulation of bitcoin in the country, but until now it still can't be done for the bitcoin replacement process where they can only prohibit their people from adopting bitcoin but can't stop it

mynonce

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Quote from: mynonce on November 10, 2021, 01:20:45 PM

... or the topic could be:

Quote from: sheenshane on November 14, 2021, 05:59:05 PM

Quote from: goldkingcoiner on November 14, 2021, 05:41:51 PM

The topic of this thread should be : "they wish they could stop Bitcoin"

Much better, I tend to agree with you.

Edited 1st post.

sheenshane

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Quote from: goldkingcoiner on November 14, 2021, 05:41:51 PM

The topic of this thread should be : "they wish they could stop Bitcoin"

Much better, I tend to agree with you.

Bitcoin has a truly decentralized nature so that no one can stop, no one can change the code and overall no one can destroy this because it's virtual and only works as a number of codes in computers. It's a fool if there's someone to think that they can stop Bitcoin, no one can stop on it even Bitcoin developers doesn't have change on it, though they can fork the result isn't a Bitcoin at the end.

Before, the reason why most countries are hated Bitcoin is that this could be the biggest threat to their financial system, but yet, there is open-minded counter leaders who are now accepting Bitcoin and making it a legal tender.

goldkingcoiner

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The topic of this thread should be : "they wish they could stop Bitcoin"

As people in this thread have pointed out; if they could have stopped Bitcoin mining, they already would have. But I do agree with the fact that Bitcoin mining is bad for the environment. Not because it itself it bad for the environment, but because the energy production technologies are lacking and therefore are bad for the environment. So once we go from dirty energy production to clean energy production, mining Bitcoin will automatically not be bad for the environment.

But politicians like to point fingers at the wrong people. We know that.

Instead of wasting money on fruitless attempts on stifling Bitcoin mining, they should find better ways to produce clean energy. I for one am cheering for fusion energy.

24Kt

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Quote from: Brus123 on November 14, 2021, 07:50:33 AM

I think that when renewable energy will be widely used even to mine Bitcoin. People will be more calm and optimistic about Bitcoin. While it is being mined consuming so much dirty energy that pollutes our environment, there are a lot of people and organisation that are against crypto, but I think that it will become greener soon and people will change thier tune.

But I am thinking that even if bitcoin will be mined by renewable energy, there will be people that will still be against with it. We will not satisfy all these people. But even then, no one can stop bitcoin. It has been proven by the fact that even if Chinese banned the total usage of crypto, they couldn't crashed the popularity of bitcoin. Instead, it keeps on reaching new heights.

Desmong

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I still don't know why bitcoin doesn't want to cross the $80k border line. The market is doing well ranging for a long time now. Who can stop bitcoin? Nobody even government are still looking for a way to stop it but still find it difficult to stop. By the time bitcoin is going to reach $100k, those 2ho are attacking the price of bitcoin now would have come to their senses in a more understanding way.

Gosgosking

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They will keep on trying to stop it but they can't and they will be tired and the more they try the more Bitcoin will continue to get popular more and more. There threat is not new, it's a normal thing.

Brus123

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I think that when renewable energy will be widely used even to mine Bitcoin. People will be more calm and optimistic about Bitcoin. While it is being mined consuming so much dirty energy that pollutes our environment, there are a lot of people and organisation that are against crypto, but I think that it will become greener soon and people will change thier tune.

Fortify

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Quote from: mynonce on November 10, 2021, 01:20:45 PM

https://www.fi.se/en/published/presentations/2021/crypto-assets-are-a-threat-to-the-climate-transition--energy-intensive-mining-should-be-banned/

''We therefore call for:

1. The EU to consider an EU-level ban on the energy-intensive mining method proof of work. There are other methods for mining crypto-assets, that could also be used for Bitcoin and Ethereum, that are estimated to reduce energy consumption by 99.95% with maintained functionality.
2. Sweden to meanwhile introduce measures that halt the continued establishment of crypto-mining production using energy-intensive methods.
3. That companies who trade and invest in crypto-assets, that were mined using the proof of work method, cannot be allowed to describe or market themselves or their activities as sustainable.''

''A ban on the proof of work mining method within the EU could be an important first step in a global move towards a greater use of more energy-efficient crypto mining methods.''

This is maybe the biggest impending threat towards Bitcoin right now, if some big countries start to administer bans on the basis of high and inefficient energy usage then it could really start to go downhill. If the whole EU were to implement the ban then it is quite possible that many other countries could follow suit. It's interesting that they mention Bitcoin transitioning to renewables as being a problem, as it takes away that capacity from their "essential services" when in fact it could be causing more renewables to be installed than they might otherwise have. Any country that implements such bans has to walk a very fine line because it could backfire massively.

Ozero

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Quote from: galambo on November 14, 2021, 01:19:43 AM

Quote from: oemar bakrie on November 13, 2021, 12:57:10 PM

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

Its impossible to stop bitcoin since it is decentralized and not under a single person control. Centralized coins like BNB, USDT, XRP can be controlled or manipulated since there is organization behind them controlling there blockchain. Governments can only oppose the use of bitcoin in there area of regime, to me they can only stop bitcoin on exchanges (the centralized one) other then that there is no control over bitcoin.

Interesting reasoning you have. What will bitcoin miners do if the EU decides to ban the mining of cryptocurrency that uses the energy-consuming PoW algorithm? From the practice of a similar ban in China, we see that the share of world bitcoin mining there fell from 47 percent to zero. This is a clear answer to the question of whether the EU governments will be able to control their decision.
Sweden's appeal is quite serious in its consequences. Bitcoin could be hit first.

worle1bm

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Quote from: titular on November 10, 2021, 03:13:47 PM

Quote from: TangentC on November 10, 2021, 01:47:03 PM

People have been warning PoW was a technical dead end due to energy waste since 2013.
The Eventual PoW mining ban by every country of the earth is a foregone conclusion.
That is the phase we are entering now.

The bitcoin cults nutjobs will just scream fud like when China banned it.
But China still banned it.

Ethereum is switching to Proof of Stake, to solve their PoW problem.

China didn't ban bitcoin because of environmental concerns. They take poor care of their environment as it is.

They banned it because they fear open networks such as bitcoin. They do not like having ANYTHING that cannot be censored one way or the other.

POW is not a bug in bitcoin, but one of its most important features. Don't get it twisted.

Giving up such arguments to stop bitcoin won't help them out as if you say you are protecting environment by banning mining then it's useless completely because china building dams and skyscrapers and digging deep in the earth is environment friendly? The exact reason is they won't let freedom prevail to the common people as they have done in the past also so what else do you expect from them.You enjoy your bitcoin.

galambo

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Quote from: oemar bakrie on November 13, 2021, 12:57:10 PM

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

Its impossible to stop bitcoin since it is decentralized and not under a single person control. Centralized coins like BNB, USDT, XRP can be controlled or manipulated since there is organization behind them controlling there blockchain. Governments can only oppose the use of bitcoin in there area of regime, to me they can only stop bitcoin on exchanges (the centralized one) other then that there is no control over bitcoin.

pooya87

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Quote from: sunsilk on November 12, 2021, 05:52:55 AM

There's this temporary ban of crypto mining in Iran because they can't sustain the energy that's being used for their country. In result, they have to ban mining(crypto) due to the high consumption that it has.

You are about 6 months late because about 6 months ago when the country's electricity production went down for many reasons none of which had anything to do with bitcoin mining, they decided to point the finger at someone or something so they chose bitcoin mining and even that was temporary.

noormcs5

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Quote from: oemar bakrie on November 13, 2021, 12:57:10 PM

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

How can they stop the bitcoin which is truly decentralized ? Many governments and financial institutions have tried this in the past, but they failed to stop the invention of Satoshi Nakamoto. At one side you have an inflated flat currency which is constantly losing its value. Currently bitcoin is the only currency which is a perfect replacement of drawbacks of fiat money.

The Cryptovator

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Quote from: Slow death on November 13, 2021, 04:25:27 PM

It's comical when environmentalists talk about the climate, the same environmentalists use fuel cars every day to get from one place to another. the same environmentalists use airplanes, don't they know that companies that build airplanes also use electricity? Don't they know that aviation fuel is something that, to be extracted, pollutes the environment?

They know very well. But they don't like a decentralized ecosystem where they can't control everything. That's the main issue why Bitcoin haters stand against Bitcoin mining. All other sections do not have a problem those have been using renewable energy. When it's come to Bitcoin mining they raise the question.

If renewable energy is only the issue for Bitcoin mining then why they aren't interested to solve it? Isn't there a renewable energy source like hydrogen fuel? Why are they not implementing this plan? This renewable energy could use in a lot of sectors even without Bitcoin mining. But they will never do it because simply they hate decentralized cryptocurrency Bitcoin.

Slow death

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they won't ban bitcoin, they will find some other way that will benefit the miners and the electricity allocated to the people. I don't see reasons for not reaching agreements. It's comical when environmentalists talk about the climate, the same environmentalists use fuel cars every day to get from one place to another. the same environmentalists use airplanes, don't they know that companies that build airplanes also use electricity? Don't they know that aviation fuel is something that, to be extracted, pollutes the environment?

mynonce

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Quote from: Haunebu on November 13, 2021, 02:48:03 PM

Nothing new op. Many governments have been trying to stop BTC from a long time, but they have failed repeatedly. Some of them haven't given up on trying to ban BTC while some others gave up and settled with regulating them.

History has taught us that trying to ban BTC and other popular cryptocurrencies is a pointless endeavour which is why I wouldn't worry too much about these new proposals op.

These publications/proposals impair Bitcoins growth, but I strongly believe that Bitcoin is 'unstopable'.

Haunebu

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Nothing new op. Many governments have been trying to stop BTC from a long time, but they have failed repeatedly. Some of them haven't given up on trying to ban BTC while some others gave up and settled with regulating them.

History has taught us that trying to ban BTC and other popular cryptocurrencies is a pointless endeavour which is why I wouldn't worry too much about these new proposals op.

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