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Author Topic: The Montana Senate unanimously approves the 'Right to Mine' Bitcoin bill.  (Read 97 times)
Myleschetty (OP)
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February 24, 2023, 07:13:44 PM
 #1

The Montana state senate has officially passed legislation to safeguard Bitcoin and cryptocurrency mining rights.
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DaveF
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February 24, 2023, 08:14:31 PM
 #2

Which would matter if they had decent electric rates.

They are good but not great. Plenty of better places to mine, UNLESS they get subsidized from the government or power company.

That really is the catch in the end. No matter if the laws help you or not, businesses have to follow the money and an average industrial rate of $0.075 per KWH is middle of the road at best.

-Dave

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tbct_mt2
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February 25, 2023, 06:56:39 AM
 #3

Miners have to find locations that they can have cheapest electricity and rent fee for their farmings. This bill is good and it can initiate a race to bring as most attractive bill and conditions for Bitcoin miners and cryptocurrency miners as possible.

I am not optimistic that it will have a very speedy progress but the trend is in and after about 10 years, we see more support for Bitcoin, cryptocurrency and blockchain including mining activities. It gives me a stronger belief that Bitcoin network won't be stopped and die because no government on Earth allow mining activities.

R


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February 25, 2023, 08:11:36 AM
 #4


I am not optimistic that it will have a very speedy progress but the trend is in and after about 10 years, we see more support for Bitcoin, cryptocurrency and blockchain including mining activities. It gives me a stronger belief that Bitcoin network won't be stopped and die because no government on Earth allow mining activities.

If all governments made bitcoin mining illegal, I think that could be more than positive for Bitcoin.

I mean, if you shut down all the big Bitcoin mining farms, the difficulty collapses, and we could all start mining again with USB miners, CPUs, GPUs. The government would never prohibit us from owning hardware at home like a Gaming Computer or Sidehack’s ASICs for example.

This would be positive for the whole ecosystem, decentralization would be strong, home miners could have the chance to benefit from a block reward. Currently when someone solves a block on a solo pool with a very low hashrate, it's all over the news. I dream of a mode where there would be only home miners, it would be much healthier than these big pools that mine blocks without transactions included in them frequently for examples. (mining empty blocks is a non-sense)

But imagining this scenario, if only one country accepted Bitcoin mining on an industrial scale, there would be a big risk for Bitcoin (51% attack, big centralization etc.)

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