Bitcoin Forum

As per the news I read this morning it shows that they want to ban proof of work, this person supports PoS algorithm instead but why the ban? This is the most stupid thing anyone can say about coins algorithm, they can't even ban a project but now it's algorithm?

https://decrypt.co/90703/eu-regulator-calls-for-ban-on-proof-of-work-mining-used-by-bitcoin-ethereum

Meaning only scamcoins will be allowed to exist, by the way they are not idiots, they are smart, scammers know pow coins are not good for them, too much attention from govs as they uses too much electricity. Welcome to crypto scammers world eheh, in this market only scammers are winning and they want to keep that up and for them to keep scamming people, they need to get rid of pow coins.

And how is this surprising, coming from the "EU regulator" who clearly represents centralized powers? Of course PoW is a threat to them, as Metroid mentioned scammers - they need to get rid of transparency in order to scam participants efficiently.

Simple, if it smells like trash it probably is trash...
and that's why also screw ETH.

The question is how is this going to be possible? Isn't PoW coins fully decentralized? Hahahah I would love to see how this goes

Ethereum is changing the algorithm soon. If a couple of large companies stop mining Ethereum, then the profit of other miners will increase. It's cynical about big companies, but that's mining. In Europe, electricity is expensive, and soon many miners may stop mining themselves.

If Europe electricity is high how are people from Europe paying for electricity bill? Mining isn't by force it's by calculations, you have to be able to pay for electricity first before your own profit, it doesn't  make sense to ban PoW algorithm

please people there was so many fuds but BTC ETH nothing happened.

Some use the mining rigs as a space heaters in their houses. With a ban in place they still need to heat their homes.

I don’t think this will actually take place however I am not surprised they are proposing this.

Europe was I think the first place to ban the incandescent light bulbs, if you drive a gas guzzler you pay an extra tax and now this. I am not surprised.

Electricity and Fuel prices are crazy high in Europe so they are very conservative when it comes to these things.

Let them do it this will benefit other miners, difficulty will reduce alot and coins not only ETH will become more profitable but now mining profitability is fading away, a 1660 gives me 2$ per day and now it's 1.25$ I'm sure it will get worse

Maybe same way china put ban on all his crypto miners? I believe it's possible because china did it once and it works, they just have to add it up in their book of law it's that easy