Isn't this old news? I tried to find articles from different websites, but most are 2 months old. The most popular articles are dated in 2023. Is there any change in this plan compared to when it was initially proposed?I don't know, but it seems to be on April 13, as the article says. It may have been an old plan, but it was recently revived.
To be fair it is not really that much of a smart idea to get money out of crypto miners because it would mean that if they become not so profitable, they would end up stopping, so why would they do it. This isn't some way that government could make money, because it would mean that miners would have to make profit even after the tax, and very few could, and that means there won't be that much money to be made. I believe that the best way to go would be just making sure that we are talking about a bigger deal and revenue based, not how much they spend on electricity, would be smarter to keep it that way.
Isn't this old news? I tried to find articles from different websites, but most are 2 months old. The most popular articles are dated in 2023.It began with a survey of the electricity that miners are using. That was last year. But this news is not old but new. When we read the news last year, we know that US is planning something against US bitcoin miners.
So this "tax" is just going to make is less profitable to mine BTC, and it comes at exactly the worst possible time when we are days before the halving. It means there will be a short-term dropoff of hashpower as miners shut down their rigs due to no profit.Are miners not taxed at all before in USA? I think if they were taxed, at least it would be up to 10%. According to the news, the tax will be 10% in the first year, 20% in the second year and 30% starting from the third year. If they are taxed before but which I do not know, 10% for the first year should not be a problem for the miners.
Isn't this old news? I tried to find articles from different websites, but most are 2 months old. The most popular articles are dated in 2023. Is there any change in this plan compared to when it was initially proposed? It doesn't seem like there are any notable changes, if any. A recent article suggests there's a new plan called EIA mining survey or something[1]. I wonder why they are so aggressive with crypto. Maybe because in my country the tax is so low, I find it difficult to understand how they arrive at the 30% figure.
[1] https://www.eurasiareview.com/14042024-biden-redoubles-effort-to-crush-crypto-with-eias-mining-survey/
Bitcoin mining is business and if an operator could not make good money then the business would be looking somewhere else and I am sure that there will be smaller countries that can welcome miners with open arms like El Salvador or Paraguay, for that matter.
Are miners not taxed at all before in USA?
On Tuesday, this proposal was brought back into the spotlight as part of the government’s budget plan for the next fiscal year. The DAME tax would charge Bitcoin miners a 30% tax on the cost of the electricity they use. This tax would be introduced gradually: starting at 10% in the first year, then increasing to 20% in the second year, and finally reaching 30% in the third year.I did read this news before but I did not know the tax would be imposed in phases, well that's at least a good thing, as miners who are mining at bigger rates, might want to move out of the country in order to safe themselves from such a huge tax as 30% is a no way for me at least although I am not a miner. But I wonder if most of the miners even at a lower scale prefer not to use electricity from grids they prefer solar or wind energy.