Kevin Russell
"The Biden administration now requires large cryptocurrency miners to report their energy use.:
I hope this is the beginning of the end.
Wasting time, energy, eyes, on digital counterfeiting, a stupid, pointless, useless, onanistic, distraction.
"137 mining operations in the US account for over 2 percent of national electricity usage."
tinydoctor
@kevinrns Onanistic is absolutely the correct and paramount adjective.
Kevin Russell
Digital counterfeiting.
The process of running your graphix cards red hot for hours is called "mining" in common parlance. Any mother can tell you what the boys are doing. Its not mining, its wanking out bitcoins.
pettter
@dmarti @kevinrns @xot The only way to win is to not play the game.
Ban it.
Don Marti
@kevinrns @xot also since proof-of-work cryptocurrency is fundamentally based on expensive use of a resource, the more expensive the electricity is, the more the cryptocurrency is worth. The higher the tax on energy used for mining, the more costly the "work" in PoW, so the more valuable the coins mined. Might be counterintuitive, but a tax on cryptocurrency mining would actually act like a subsidy
Kevin Russell
Yes exactly. Appropriate response on understanding.
Jaap-Henk Hoepman (@xot)
"137 mining operations in the US account for over 2 percent of national electricity usage."
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