×
Login Register an account
Top Submissions Explore Upgoat Search Random Subverse Random Post Colorize! Site Rules
4

Biden regime planning to track down and tax bitcoin miners, may possibly outlaw it. Bitcoin electricity usage the same as a single average State.

submitted by allAheadFull to Crypto 2 monthsFeb 11, 2024 23:09:56 ago (+4/-0)     (archive.is)

https://archive.is/tpRfD

China kicked all their crypto miners out for over consumption and they moved to the USA. They are using about 2-2.5% of the total US grid power. Texas has paid them 10's of millions of dollars to stop mining during outages and other peak times. China had a lot of miners since they make the hardware there and got them for cheap.

Here's the article about the tax. They are actively tracking down all miners as we speak. I heard Biden is actually planning to shut mining down and fine anyone who doesn't stop thousands per day. This would also slow Bitcoin transactions until the miners relocate.

https://archive.is/LmVxJ


2 comments block


[ - ] purityspiral 1 point 2 monthsFeb 12, 2024 08:20:31 ago (+1/-0)

So we pay for the electricity but we can't use it however we want...
It wasn't gifted to us, we pay for it.

[ - ] Sector2 1 point 2 monthsFeb 12, 2024 05:10:44 ago (+1/-0)

"Currently, crypto mining firms do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the climate. The DAME tax encourages firms to start taking better account of the harms they impose on society," the President's Council of Economic Advisers (CEA) wrote in a statement Tuesday.

Morality-based energy pricing should work out well.