Is this for real?

[jostorres]

Isn't there a bad effect for all countries in the world when Bitcoin mining continues to be carried out by some people or miners ? because the legalization does look very good but there also needs to be a little study of the effects of it.

this is a technological development, and if it can't be stopped, of course the government must look for alternative sources of electricity, so that later it can compete with other countries in the world, after bitcoin is growing. let's just imagine an industrial factory that also consumes a lot of electricity, and we can assume mining is like that too

Why will they compete? BTC mining is not about competition but its only about willingness. No one force to do a mining and it can be hard so not all can do this but we now have alternative sources of electricity and they can use that.

The use of alternative electricity is now popular though so why are they stressing their self too much? Maybe they only wants to ban btc, that's why. You know there are some people or countries that hates btc even if btc didn't do anything bad. You got a point there about factories and in fact factories are also harmful to the environment. It was like they say that btc is a currency use by the criminals but what about the fiat? They only put all the blame to btc.

[asriloni]

Do those regulators know if POW coin was the most decentralized crypto and it can't be banned? I know that this is just only a statement that came from the regulators but this may possible to be a real thing.
It seems that energy will always become the reason for the regulators to ban crypto. Even with so many bitcoin miners have been migrating to the renewable energy and they didn't even care about this.
I just feel curious how long those regulators will be trying to ban bitcoin more and more since they know that so well if bitcoin can't be banned.
Even when the cex was doing it and bitcoin users are still having lots of ways to trade.

[wxa7115]

Green house conscious European Union are driven green energy to forefront of global energy consumption and it is important that cryptocurrency ecosystem begin to alligb itself  in this direction. One of the negative argument about bitcoin is the energy consumption of mining it. I think pos is the future of cryptocurrency future and the early we embrace it the better!

I disagree, when we look at the energy consumption then we can see that PoS has a smaller consumption of energy than PoW, does this make PoS better than PoW? Not really, the most important aspect we should consider is the security of the network, without that nothing else matters and in that aspect PoW is better than PoS by a long shot.

So even if PoW requires more energy it should still be the way to secure a network, and since bitcoin is using it and it will not be replaced then those politicians will fail at implementing something like that as the reality of the situation will never match with their expectations.

[tabas]

So even if PoW requires more energy it should still be the way to secure a network, and since bitcoin is using it and it will not be replaced then those politicians will fail at implementing something like that as the reality of the situation will never match with their expectations.

It is the reality that those politicians who will implement to ban pow or bitcoin, they'll just fail in the end. The network is making it secured through pow and those that like to impose it because "it consumes too much energy" don't really understand what it is all about.
There's an alternative to this problem if that's what they're addressing, there are alternative energy sources that have been done by huge mining farms if the main concern is all about the consumption and effect of it as it requires a huge amount of energy.

[wxa7115]

So even if PoW requires more energy it should still be the way to secure a network, and since bitcoin is using it and it will not be replaced then those politicians will fail at implementing something like that as the reality of the situation will never match with their expectations.

It is the reality that those politicians who will implement to ban pow or bitcoin, they'll just fail in the end. The network is making it secured through pow and those that like to impose it because "it consumes too much energy" don't really understand what it is all about.
There's an alternative to this problem if that's what they're addressing, there are alternative energy sources that have been done by huge mining farms if the main concern is all about the consumption and effect of it as it requires a huge amount of energy.

Correct, which is why something like this makes no sense at all, bitcoin mining already uses a great deal of energy which came from renewable sources so it was probably one of the cleanest industries in that aspect that we could find.

Governments know this so this is not something they can use to directly attack bitcoin or their lies would be exposed relatively quickly, so they are just arguing that the energy consumption of bitcoin and other POW coins is too high and something must be done about it, which obviously includes banning and other regulatory measures, which is what they were aiming for from the beginning.

[Yaunfitda]

So even if PoW requires more energy it should still be the way to secure a network, and since bitcoin is using it and it will not be replaced then those politicians will fail at implementing something like that as the reality of the situation will never match with their expectations.

It is the reality that those politicians who will implement to ban pow or bitcoin, they'll just fail in the end. The network is making it secured through pow and those that like to impose it because "it consumes too much energy" don't really understand what it is all about.
There's an alternative to this problem if that's what they're addressing, there are alternative energy sources that have been done by huge mining farms if the main concern is all about the consumption and effect of it as it requires a huge amount of energy.

Correct, which is why something like this makes no sense at all, bitcoin mining already uses a great deal of energy which came from renewable sources so it was probably one of the cleanest industries in that aspect that we could find.

Governments know this so this is not something they can use to directly attack bitcoin or their lies would be exposed relatively quickly, so they are just arguing that the energy consumption of bitcoin and other POW coins is too high and something must be done about it, which obviously includes banning and other regulatory measures, which is what they were aiming for from the beginning.

They already put ahold of this bill for now, maybe it's because of the ongoing war in Europe. Anyways, the people behind this initiative is not really familiar with bitcoin mining, Maybe they just heard it from someone else or just read it in the internet. Because we all know that their argument is really flawed and there are a lot of industries, far greater than bitcoin mining that really affects the environment. Even banking system consumes a lot of electricity per year as compare to bitcoin.

[wxa7115]

They already put ahold of this bill for now, maybe it's because of the ongoing war in Europe. Anyways, the people behind this initiative is not really familiar with bitcoin mining, Maybe they just heard it from someone else or just read it in the internet. Because we all know that their argument is really flawed and there are a lot of industries, far greater than bitcoin mining that really affects the environment. Even banking system consumes a lot of electricity per year as compare to bitcoin.

The truth is that politicians field of expertise is politics and not science or technology, which means that most of the things they try to regulate are things they do not understand, so a great deal of them just go with the most popular opinions so they have an opportunity to be reelected or their party remains in power.

However there are many industries that cannot be regulated this way and they need experts that know the topic deeply and then they need to follow their recommendations, but when they see an industry like this one that threatens their power then they will try to do what they can to keep that power, producing nonsensical propositions, just like this one.

[jaberwock]

The truth is that politicians field of expertise is politics and not science or technology, which means that most of the things they try to regulate are things they do not understand, so a great deal of them just go with the most popular opinions so they have an opportunity to be reelected or their party remains in power.

Most of those politicians that you would see talking bad about bitcoin do not know anything about it at all. They just come out due to the popular belief by some people that bitcoin is a scam or that it is harmful to the environment due to mining and they will just be saying what they are not really sure about, while in the true sense they have no clue what cryptocurrency is all about. They all need someone to educate them thoroughly on what cryptocurrency is all about and also help them understand it.

That way they wouldn’t be making wrong decisions as they are doing now.Some of them think that bitcoin is the problem that we are having but it is not.In fact the Bitcoin has really been helpful to the world in so many ways.

[Emitdama]

Most of those politicians that you would see talking bad about bitcoin do not know anything about it at all. They just come out due to the popular belief by some people that bitcoin is a scam or that it is harmful to the environment due to mining and they will just be saying what they are not really sure about, while in the true sense they have no clue what cryptocurrency is all about. They all need someone to educate them thoroughly on what cryptocurrency is all about and also help them understand it.

That way they wouldn’t be making wrong decisions as they are doing now.Some of them think that bitcoin is the problem that we are having but it is not.In fact the Bitcoin has really been helpful to the world in so many ways.

They are old, and I mean some of them are VERY old, barely can use smart phones levels of old. We have 70+ year olds at the top of politics. So, it is normal that they would not understand what crypto is about and that is why they could be making these type of arguments.

I believe that we should not really be doing anything that is dangerous for all of us by listening to these old politicians. Look at younger ones like El Salvador president, you will see that future politicians of the world will have a better understanding of what crypto is, and would be people who were hurt by fiat world as well. This is how we will get better laws in the future.

[Webetcoins]

This is not new at all. And yes it is true they made such announcements about banning the proof of work (PoW)cryptocurrency mining, which bitcoin is definitely among them. But, they haven't taken any such action yet and let's hope that there wouldn't be a decision to carry it out.And moreover I do not see the need for them to ban proof of work because it doesn’t really consume as much energy as people claims that it does, to be considered a threat.

Bitcoin has less energy consumption than most other industries. But, if they should still decide to go ahead with banning proof of work from the EU, I still believe that there are other places that Bitcoin mining will continue safely.

[wxa7115]

Most of those politicians that you would see talking bad about bitcoin do not know anything about it at all. They just come out due to the popular belief by some people that bitcoin is a scam or that it is harmful to the environment due to mining and they will just be saying what they are not really sure about, while in the true sense they have no clue what cryptocurrency is all about. They all need someone to educate them thoroughly on what cryptocurrency is all about and also help them understand it.

That way they wouldn’t be making wrong decisions as they are doing now.Some of them think that bitcoin is the problem that we are having but it is not.In fact the Bitcoin has really been helpful to the world in so many ways.

They are old, and I mean some of them are VERY old, barely can use smart phones levels of old. We have 70+ year olds at the top of politics. So, it is normal that they would not understand what crypto is about and that is why they could be making these type of arguments.

I believe that we should not really be doing anything that is dangerous for all of us by listening to these old politicians. Look at younger ones like El Salvador president, you will see that future politicians of the world will have a better understanding of what crypto is, and would be people who were hurt by fiat world as well. This is how we will get better laws in the future.

This is one of the reasons why bitcoin adoption is taking so long, people that lived most of their youth without using computers are going to have a problem understanding the concept of bitcoin, however new generations understand immediately the concept of bitcoin and what it is trying to achieve.

And since it will take a few decades before the young people of today to replace the older generations in positions of power, then we will have to deal for some time with nonsensical attempts to pass laws and regulations that are impossible to enforce.

[wozzek23]

If PoW algorithm is banned how will BTC thrive? Is that even possible to begin with because the only crypto project that will die PoW is BTC so why is EU securities regulator trying to place ban on PoW algorithm?

On technical level there is nothing stopping bitcoin from transitioning to POS or proof of stake. I think the problem is with miners, they wouldn’t like bitcoin to become a proof of stake cryptocurrency. They would still prefer it to remain proof of work as it has been and bitcoin is the first proof of work cryptocurrency that we had.

So, even if the EU should decide that they’re going to ban proof of work cryptocurrencies (bitcoin and every other proof-of-work cryptocurrencies) it is still not going to change anything at all as the chances of Bitcoin switching to proof-of-stake is none. That is how I see it.

This is one of the reasons why bitcoin adoption is taking so long, people that lived most of their youth without using computers are going to have a problem understanding the concept of bitcoin, however new generations understand immediately the concept of bitcoin and what it is trying to achieve.

Yes, it’s a big. In my country I’m really tired of seeing old people who are close to being on a death bed soon still contesting for presidential elections and other posts in government. It is really annoying, because what we need are fresh and young minds who can actually think up ideas that would move the country forward.

These old people are really not helping at all. I would be very happy if the age limit for contesting for any post in politics should he set at the least sixty years. That would be better than having old men of like eighty years being there lol. These people should all go and rest.

[Sled]

Here is the update in regards to this issue...
https://www.euronews.com/next/2022/03/14/europe-to-vote-on-limiting-pow-crypto-mining-used-by-bitcoin-and-ethereum

We are too far from the said PoW banning possibility as it mentions...

The European Union has rejected a proposed rule that could have banned the cryptocurrency Bitcoin across the bloc but set new draft rules to protect consumers and make mining more sustainable.

The European parliament’s economic and monetary affairs committee voted on Monday on the proposed Markets in Crypto Assets (MiCA) framework, the EU’s legislation for governing digital assets.

EU had seen that banning is not the solution to minimize the threats, frauds, manipulations, and any illegal activities, it only needs strict supervision. I think this is a fair decision as these things (crimes/illegal activities) can never be stopped even they ban Bitcoin as they will find another way.

So I guess this it clear to everyone that the government won't have the reason to ban crypto, particularly Bitcoin as this is not harmful to the people but of course, a big help.