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Topic: Will countries ban Bitcoin mining due to environmental concerns? - page 3. (Read 1524 times)

legendary
Activity: 3220
Merit: 1363
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Technological mining does not cause that much harm to environment. It is not literally the same with mining concerning land and minerals. It only uses electicity and ofcourse equipments. If it is only electricity which is concerned, then governments could demand miners to use solar panels. Also, it is another thing if prohibition is directly towards usage of cryptocurrency. An individual can mine Bitcoin and be not allowed to use it for daily transactions, as simple as that. Governments are just wanting taxes and they just cannot do it with currencies other than taxation. Sk if it is mining alone, then I guess it would be a blurry reason for them to ban such activity, especially if it won't be announced and such.

Of course. Governments could force miners to rely on alternative energy sources to reduce carbon emissions as much as possible. But I see they're using the "high energy consumption" narrative as an excuse to get rid of Bitcoin for good. And what better way than banning PoW mining altogether? The EU already banned Bitcoin mining due to "environmental concerns", so what makes you think the US won't do the same as world countries try to fight climate change?

The pressure is already mounting on Bitcoin, as many cryptocurrencies are switching to PoS without second thoughts. Imagine what would happen if Bitcoin were the only PoW cryptocurrency in the world. Most countries will ban it, greatly reducing worldwide adoption. No one knows what the future holds for the cryptocurrency so we can only hope for the best. Just my thoughts Grin
member
Activity: 280
Merit: 30
US and Europe are not the judges of the world, just because they ban bitcoin mining doesn't mean other countries will do the same. Countries like El Salvador or the Central African Republic are not superpowers, but they are welcoming bitcoin, bitcoin just needs people to accept it no matter who it is, not necessarily the major powers.

I don't know about Iran but as I know Asian countries, some countries still have cheap electricity despite the current energy crisis. If the US and Europe ban mining, maybe Asia will be a welcome place for miners. It is not possible to completely ban bitcoin mining in the world, as long as bitcoin can be profitable there will be countries that accept it.

Asia , China already ban bitcoin PoW miners.

US/ Europe/ Canada PoW bans are coming.

Thinking El Salvador energy grid can succeed where China/US/Europe / Canada could not , is pure delusion.

Africa is just your attempt to make me laugh, South Africa can't even keep the power stable now.
https://www.biznews.com/sa-investing/2022/11/21/eskom-cash-buy-diesel
Quote
South Africa’s government said it’s urgently seeking funds to buy diesel needed to fuel auxiliary power plants after the state electricity utility said outages will intensify this week.

Public Enterprises Minister Pravin Gordhan met members of Eskom Holdings SOC Ltd.’s board on Sunday amid “serious concerns” about the risk of increased nationwide blackouts in the months ahead, his department, which oversees the utility, said in a statement. The outages are expected to deepen this week.

Bitcoin PoW supporters complete and utter lack of understanding about the weakening power grids is amazing to say the least.

Why don't you claim sri lanka next as a bitcoin miner hub.  Tongue
https://www.bbc.com/news/world-asia-63038013
Quote
Last week, Sri Lanka increased its daily power outage from 80 minutes to 140 minutes because of a drop in power generating capacity.

Once the US ban bitcoin PoW mining, bitcoin is basically DOA.
sr. member
Activity: 1610
Merit: 301
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US and Europe are not the judges of the world, just because they ban bitcoin mining doesn't mean other countries will do the same. Countries like El Salvador or the Central African Republic are not superpowers, but they are welcoming bitcoin, bitcoin just needs people to accept it no matter who it is, not necessarily the major powers.

I don't know about Iran but as I know Asian countries, some countries still have cheap electricity despite the current energy crisis. If the US and Europe ban mining, maybe Asia will be a welcome place for miners. It is not possible to completely ban bitcoin mining in the world, as long as bitcoin can be profitable there will be countries that accept it.
legendary
Activity: 2576
Merit: 1252
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You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.
Actually it depends on the country and their government. They are not all the same dictatorship wanting to shut down anything they cannot control. For example el Salvador government has been accepting bitcoin with open arms, if they could manage some excess electricity they would accept mining with open arms too. There are others like that too. For example the Iranian government has accepted bitcoin mining with open arms too specially since the electricity is by far the cheapest ($0.002 /KWH).
Technological mining does not cause that much harm to environment. It is not literally the same with mining concerning land and minerals. It only uses electicity and ofcourse equipments. If it is only electricity which is concerned, then governments could demand miners to use solar panels. Also, it is another thing if prohibition is directly towards usage of cryptocurrency. An individual can mine Bitcoin and be not allowed to use it for daily transactions, as simple as that. Governments are just wanting taxes and they just cannot do it with currencies other than taxation. Sk if it is mining alone, then I guess it would be a blurry reason for them to ban such activity, especially if it won't be announced and such.
newbie
Activity: 18
Merit: 0
I don't think so it will happen. In my country is not ban yet.I hope they don't ban.
member
Activity: 280
Merit: 30
You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.
Actually it depends on the country and their government. They are not all the same dictatorship wanting to shut down anything they cannot control. For example el Salvador government has been accepting bitcoin with open arms, if they could manage some excess electricity they would accept mining with open arms too. There are others like that too. For example the Iranian government has accepted bitcoin mining with open arms too specially since the electricity is by far the cheapest ($0.002 /KWH).

Iran bans bitcoin mining every time their power supply decreases, which is more and more.
Temporary Bans usually become permanent if they keep happening.
Plus no miner will survive only getting power for only 6 months out of the year.

https://techcrunch.com/2022/06/19/iran-to-cut-electricity-to-authorized-crypto-miners-report/
Quote
Electricity to all 118 government-authorized mining operators in Iran will be cut off from June 22 ahead of seasonal spikes in power demand,
Quote
But the country has also repeatedly halted operations of crypto mining centers.
The government ordered two shutdowns to mitigate pressure on its power infrastructure last year, during which electricity demand hit a record high


New York
https://www.cnbc.com/2022/11/23/new-york-governor-signs-law-cracking-down-on-bitcoin-mining.html

Quote
New York's Gov. Kathy Hochul signed into law Tuesday a two-year moratorium on proof-of-work (PoW) cryptocurrency mining.

Any PoW Miner not currently running on 100% renewals , will also not have their license renewed.
So even present PoW miners will be kicked out as their licenses expire.

Quote
Industry insiders tell CNBC it could have a domino effect across the U.S.
“Not only is it a clear signal that New York is closed for business to bitcoin miners, it sets a dangerous precedent for singling out a particular industry to ban from energy usage,”


Texas
https://abc13.com/houston-boil-water-notice-city-of-plant-power-outage-what-to-do-under/12502921/
Quote
HOUSTON, Texas (KTRK) -- A boil water notice has been issued for the City of Houston's main water system after a water treatment plant experienced a power outage Sunday morning.

https://www.reuters.com/world/us/houston-issues-boil-water-notice-after-treatment-plant-power-outage-2022-11-28/
Quote
A ground trip and current overload caused a transformers and an electric feeder to go offline and a backup transformer at a water purification plant failed

Texas is now suffering from Bitcoin PoW miners making their grid unstable.

https://www.thestreet.com/crypto/bitcoin/crypto-mining-strains-energy-grid-and-creates-fresh-demands-for-housing-in-texas
Quote
This will put a massive amount of stress on the Texas energy grid," William Magnuson, an expert in cryptocurrency and the law at the Texas A&M Law School told CBS News. "We know the Texas energy grid has had its struggles in the last couple of years, so I do worry about the effects of imposing massive new energy use on a grid that we know is has been relatively unstable."
legendary
Activity: 3472
Merit: 10611
You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.
Actually it depends on the country and their government. They are not all the same dictatorship wanting to shut down anything they cannot control. For example el Salvador government has been accepting bitcoin with open arms, if they could manage some excess electricity they would accept mining with open arms too. There are others like that too. For example the Iranian government has accepted bitcoin mining with open arms too specially since the electricity is by far the cheapest ($0.002 /KWH).
hero member
Activity: 2310
Merit: 532
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You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.

also, don't forget that miners are already tapping the renewable energy sources like the use of solar panels and others. big crypto mining companies are deploying their solar energy source also.
It is true that a good number of hosting service providers have moved to renewable energy sources for mining. This will cost them initially, but help with the additional spending on electricity. Apart from this, several oil companies in different countries have called for miners to set the firms close to the plant, so that wasted oil can be used to generate power for the mining purpose.
legendary
Activity: 3122
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.

also, don't forget that miners are already tapping the renewable energy sources like the use of solar panels and others. big crypto mining companies are deploying their solar energy source also. i don't think government will ban btc mining if they see that it is contributing to their economy. they can treat it as just like any other industry which are using electricity.
newbie
Activity: 19
Merit: 1
You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
bitcoin haters are countries. 

This issue has been widely heard and has become a global issue. according to them the impact on the environment is broadly from bitcoin mining into 2 parts (electronic waste, energy consumption) the impact that is often debated is the problem of excessive energy use and this has become illegal in some countries for miners. 
There have been many campaigns that have been launched badly for bitcoin by state bureaucracies around the world to create FUDs. 
the only problem is that bitcoins are out of their control

That's certainly true, mate. Most countries hate Bitcoin simply because it proves to be an alternative to the existing financial system powered by Fiat. They think Bitcoin will undermine their economies, leaving them behind in the dust. Countries may be complaining about Bitcoin's "harm" to the environment today, but tomorrow they will be complaining about Bitcoin's ability to be used for money laundering and tax evasion (which we all know that's not usually the case). Governments will always come up with an excuse in order to get what they want. As long as Bitcoin is put to the ground, nothing else matters.

I'd have to say it's been 13 years since BTC's inception, yet governments have been unable to shut it down completely (meaning the pioneer cryptocurrency is truly unstoppable). Who knows if Bitcoin remains as the only PoW cryptocurrency will the rest of the other coins turn to PoS? Just my thoughts Grin
legendary
Activity: 2548
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Any excuse is valid to go against bitcoin for bureaucrats, so you can expect anything from them, doesn't matter how absurd it may sound. Even Wikipedia was forbidden from receiving donations in bitcoin by its own community for environmental concerns, now imagine countries which have their governments directly affected by bitcoin adoption among their citizens. That means fiat is losing territory, so are the central authorities, and of course measures will be taken to avoid this from happening.
The point is that mining isn't the issue and never was, but it's the perfect straw man which fits the purpose of creating the narrative bitcoin mining is bad and evil, therefore it must be stopped. And without mining we know there isn't bitcoin (that is the point Wink).

Of course. Bitcoin will always have its haters. After all, there are powerful enemies that don't want it to prosper. I'd say Bitcoin mining doesn't harm the environment as much as banks and processing plants do. Some miners rely on green energy sources to expand their profit opportunities, anyways. No matter how you see it, you cannot deny that Bitcoin's energy consumption is not put to waste. The more energy it's consumed, the stronger Bitcoin will be against external attacks. Some governments have adopted Bitcoin as legal tender despite the "environmental concerns" from naysayers. I'd say we should "turn the page" and move on to what really matters most. As long as decentralization and censorship-resistance prevails, there should be nothing to worry about. Just my opinion Smiley


bitcoin haters are countries. 

This issue has been widely heard and has become a global issue. according to them the impact on the environment is broadly from bitcoin mining into 2 parts (electronic waste, energy consumption) the impact that is often debated is the problem of excessive energy use and this has become illegal in some countries for miners. 
There have been many campaigns that have been launched badly for bitcoin by state bureaucracies around the world to create FUDs. 
the only problem is that bitcoins are out of their control
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
Any excuse is valid to go against bitcoin for bureaucrats, so you can expect anything from them, doesn't matter how absurd it may sound. Even Wikipedia was forbidden from receiving donations in bitcoin by its own community for environmental concerns, now imagine countries which have their governments directly affected by bitcoin adoption among their citizens. That means fiat is losing territory, so are the central authorities, and of course measures will be taken to avoid this from happening.
The point is that mining isn't the issue and never was, but it's the perfect straw man which fits the purpose of creating the narrative bitcoin mining is bad and evil, therefore it must be stopped. And without mining we know there isn't bitcoin (that is the point Wink).

Of course. Bitcoin will always have its haters. After all, there are powerful enemies that don't want it to prosper. I'd say Bitcoin mining doesn't harm the environment as much as banks and processing plants do. Some miners rely on green energy sources to expand their profit opportunities, anyways. No matter how you see it, you cannot deny that Bitcoin's energy consumption is not put to waste. The more energy it's consumed, the stronger Bitcoin will be against external attacks. Some governments have adopted Bitcoin as legal tender despite the "environmental concerns" from naysayers. I'd say we should "turn the page" and move on to what really matters most. As long as decentralization and censorship-resistance prevails, there should be nothing to worry about. Just my opinion Smiley
hero member
Activity: 2044
Merit: 784
Leading Crypto Sports Betting & Casino Platform
Any excuse is valid to go against bitcoin for bureaucrats, so you can expect anything from them, doesn't matter how absurd it may sound. Even Wikipedia was forbidden from receiving donations in bitcoin by its own community for environmental concerns, now imagine countries which have their governments directly affected by bitcoin adoption among their citizens. That means fiat is losing territory, so are the central authorities, and of course measures will be taken to avoid this from happening.
The point is that mining isn't the issue and never was, but it's the perfect straw man which fits the purpose of creating the narrative bitcoin mining is bad and evil, therefore it must be stopped. And without mining we know there isn't bitcoin (that is the point Wink).
sr. member
Activity: 2828
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Not at all/totally disagree.
It is a question and not a  argument so give your opinion depend on how you understand the topic and not just because of the title in which obviously the only thing that you read.
It's difficult to say anything right now. However, countries such as China have already banned it due to environmental concerns.
China does banned this not because of environmental concer , but because of their Own coin to produce and introduce so that is a different thing to compare and consider.
newbie
Activity: 16
Merit: 0
It's difficult to say anything right now. However, countries such as China have already banned it due to environmental concerns.
legendary
Activity: 2646
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You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.
In most of the countries the illegal mining firms have turned to be a problem. To find the same several steps have been taken, but they weren't able to come up with a solution. Because the registered miners use specific amount of electricity whereas a big leak happens with the illegal mining. This have made different countries like Iran, Turkey, to end cryptocurrency mining.

On the other side countries want their cities to be made the crypto center understanding the future of the market. Now on this race is United Kingdom. The Johnson government have made plans and we don't know how far this is gonna make changes.
sr. member
Activity: 1330
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You know starting from the first time government you and I know better does not what Bitcoin to continue to exist, so any country or place mining farm is situated they will to impose force of rejection of mining processes there. Yes we know that mining of bitcoin consumed a lot energy during the processes of mining, but proven that their is a formidable tax being paid for electricity supply for mining farms of bitcoin i don't think that government is supporting the life of bitcoin because they would have allow it to be.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
I do not think so but there are environmental movements being created against cryptocurrency mining.

As far as I remember, there was a similar post like this one and someone extensively replied, saying that the heat generated by cryptocurrency mining is relatively low to the point that it does not produce as a pollution perse compared to other pollutions present. Unfortunately, instead of addressing current and worse pollutions in the world, these movements are targeting cryptocurrency mining because of pure hatred.

Like what some countries have done, a miner can geographically and strategically setup their mining equipments in countries or places with a cool climate to reduce the outgoing heat. But I really doubt that countries would permanently ban cryptocurrency mining.

If Bitcoin mining brings huge taxation benefits, then it's unlikely governments will go against it due to "environmental concerns". Everything must be in the governments' own interest to avoid further obstacles/hurdles in the future. With alternative energy sources, it's likely Bitcoin mining will become greener over time. El Salvador is planning to establish a huge Bitcoin mining hub powered by Geothermal energy (volcanoes). Other countries can make use of solar and/or wind energy (even hydroelectric energy) to help contribute to the cause.

I think the "harming the environment" situation is nothing more than FUD spread out by Bitcoin haters worldwide. Banks and some millionaires could be behind this, in order to minimize Bitcoin's presence in the mainstream world. It's a good thing the pioneer cryptocurrency is decentralized or it would've already been defeated by its enemies already. Who knows if Bitcoin remains the only PoW cryptocurrency in existence within the not-so-distant future? Just my thoughts Grin
newbie
Activity: 4
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Not at all/totally disagree.
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