As most users already mentioned that it's due to a waste of energy.
Another reason could be due to not having enough energy supply to those regions where a majority of people are mining the crypto-currencies.
Topic: They will try to stop Bitcoin - page 8. (Read 1238 times)
As a crypto enthusiast, its not uncommon to express some biase on the attack on cryptos (Bitcoin and Ethereum) to be precised but at least, one point was made clear in that publication and that is, crypto mining should look out for a more conventional energy sources and shouldn't depend so much on fossil fuels. It's a point that I admire but then, the rest of the world has got to help crypto miners to solve this issue and not dump the whole thing on miners to look out for there sources of energy. They've got to treat crypto like other fields and not like some alian in the new world.
...
Then again, the fingers are already pointed, and sure enough bitcoin and crypto will take direct hit and be persecuted harshly and might even be blamed as the number one contributor in rising temperatures.
Then again, the fingers are already pointed, and sure enough bitcoin and crypto will take direct hit and be persecuted harshly and might even be blamed as the number one contributor in rising temperatures.
They could start a big campaign against Bitcoin with that argument.
They just can't point fingers on other industries that harnesses similar or even greater energy and produces similar or greater wastes because it will hurt their relationship with such industries. Bitcoin and crypto mining relying on PoW are easy targets, mainly because not a lot of countries and businesses are into it just yet. I understand the sentiments of those who signed on the Paris agreement that are trying so hard to reach their pledges, but they should also look into other industries that uses large amounts of energy and produces just as much waste in the end.
Then again, the fingers are already pointed, and sure enough bitcoin and crypto will take direct hit and be persecuted harshly and might even be blamed as the number one contributor in rising temperatures.
Then again, the fingers are already pointed, and sure enough bitcoin and crypto will take direct hit and be persecuted harshly and might even be blamed as the number one contributor in rising temperatures.
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.
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.
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.''
Edited 23/Feb/2022
Edit:
Changed the topic
''Why are they against PoW?''
to
''They will try to stop Bitcoin''
- that is my opinion -
... or the topic could be:
''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.''
Edited 23/Feb/2022
EU on Track to Ban Bitcoin: Report
'Bitcoin will be banned in the EU starting from 2025 if the Commission and the Council of the EU don’t ditch a crippling amendment to the MiCA framework'
source: https://u.today/eu-on-track-to-ban-bitcoin-report
'Bitcoin will be banned in the EU starting from 2025 if the Commission and the Council of the EU don’t ditch a crippling amendment to the MiCA framework'
source: https://u.today/eu-on-track-to-ban-bitcoin-report
Edit:
Changed the topic
''Why are they against PoW?''
to
''They will try to stop Bitcoin''
- that is my opinion -
... or the topic could be:
The topic of this thread should be : "they wish they could stop Bitcoin"
Much better, I tend to agree with you.Jump to: