Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: sirty143 on November 11, 2021, 03:45:09 AM

Title: Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Indus
Post by: sirty143 on November 11, 2021, 03:45:09 AM
(https://i.imgur.com/5bbO1oIm.jpg)

Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin... See more for yourself here (https://news.bitcoin.com/swedish-regulators-call-for-eu-ban-on-crypto-mining-power-company-defends-industry/).

Your opinion is greatly appreciated.
Title: Re: Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Indus
Post by: UNIVERSE on November 17, 2021, 11:18:25 PM
Another ban issue again for cryptocurrency mining, specially that uses proof-of-work coin minting
Well, this is also alongside with the mining activities that may grow very significantly and the needs of electric powers that are very high.
We also know some bad issues about crypto mining bans from some countries, moreover China also do further about this bans.
We are sure that we need something new that will help miners to do in green ways, without getting any an envision again from countries.
Title: Re: Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Indus
Post by: Alcor on November 29, 2021, 11:23:45 AM
Quote from: UNIVERSE on November 17, 2021, 11:18:25 PM
Another ban issue again for cryptocurrency mining, specially that uses proof-of-work coin minting
Well, this is also alongside with the mining activities that may grow very significantly and the needs of electric powers that are very high.
We also know some bad issues about crypto mining bans from some countries, moreover China also do further about this bans.
We are sure that we need something new that will help miners to do in green ways, without getting any an envision again from countries.
The question is not even about the need to consume clean green energy for cryptocurrency mining. Now states are very active in taking measures that will help prevent global climate change. The consumption of any type of energy in energy-intensive mining leads to significant emissions of greenhouse gases into the atmosphere.
Therefore, the initiative of the Swedish regulatory authorities may well find support from other states of the European Union. Bitcoin will then have a very bad time.
Title: Re: Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Indus
Post by: Prime on December 06, 2021, 11:26:04 PM
As always. This becomes one of the chalenges of Bitcoin mining so far. More effective and efficiency mining energy are really needed. But what kind of energy is that?
So far, mining always relates to the use if big energy. Hopefully there will be another energy to be used for mining friendly environment.
Title: Re: Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Indus
Post by: Fenix on December 21, 2021, 10:01:31 AM
Yes, it is very uneconomical to mine the remaining three million bitcoins over the next 120 years and still spend so much energy. Given the fact that at the recent summit of the G20 countries, the participating states pledged to take tough measures to prevent global climate change, such an initiative of Swedish regulators is likely to find support from other states. Bitcoin will have to look for another, less expensive mining algorithm.