They will try to stop Bitcoin

[ropyu1978]

I think it is very impossible to replace bitcoin in the global world, even though bitcoin is currently being hit by such a terrible storm, bitcoin cannot be stopped circulating in various countries unless they can prohibit people from stopping the use of bitcoin for their people but cannot prohibit the circulation bitcoin in various circles, as we saw some time before where there was a lot of controversy about bitcoin among many people, where they said it was not good to adopt bitcoin but for me it was not a problem

[Easteregg69]

Don't forget the cheap wrap on the sidechains.

[oemar bakrie]

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

[TheGreatPython]

1. The EU to consider an EU-level ban on the energy-intensive mining method proof of work. There are other methods for mining crypto-assets, that could also be used for Bitcoin and Ethereum, that are estimated to reduce energy consumption by 99.95% with maintained functionality.
2. Sweden to meanwhile introduce measures that halt the continued establishment of crypto-mining production using energy-intensive methods.
3. That companies who trade and invest in crypto-assets, that were mined using the proof of work method, cannot be allowed to describe or market themselves or their activities as sustainable.''

I have already seen this news already. I don’t think that their plan is to stop bitcoin, rather they’re just trying to stop the proof of work method of mining cryptocurrency, which they believe is harmful to the environment due to the level of energy that is being used in that method. They’re recommending that miners should switch to proof of stake of mining algorithm cryptocurrencies, and stop the proof of work algorithm.

As for Bitcoin and Ethereum, I don’t know how possible it is going to be for the Bitcoin developers to switch to this method, but ETH developers already have a plan to move over to the proof of stake method of mining. As you have said, I believe that companies that are mining cryptocurrency will try to consider other means of mining that would not be as harmful to the environment.

[aoluain]

Am I the only one who sees that this nonsense about bitcoin energy usage started yet another time as price is starting to rise and sets new ATH every day? From last time that we were above $60k until this day there hasn't been any serious talks about it either which is very interesting as if all of a sudden all the environmental concerns wen't away the day price started falling and didn't rise for a couple of months

Correct, its the same old Bitcoin v's The environment and all at the same times when
Bitcoin is setting record numbers.


There are multiple Pink Elephants in the room which the people in power are choosing
to ignore.....

Agriculture - vast swathes of monoculture land set aside for grazing for livestock, more for
feed for that livestock which in turn creates massive amounts of Methane gas.

Mining - Coal and precious metals are continued to me mined at great expense to natural
habitat and utilising massive amounts of fossil fuels in the pursuit of green, sustainable energy.

So before they start focussing on Bitcoin mining they need to sort out more polluting
industries first but if they keep the focus on the bad boy Bitcoin they can continue to rape
the natural world for economic gains.

Its all smoke and mirrors

[mynonce]

I don’t think that their plan is to stop bitcoin, rather they’re just trying to stop the proof of work method of mining cryptocurrency ...

Bitcoin = proof of work (PoW)

they're trying to stop PoW = they're trying to stop Bitcoin


There is no PoS (proof of stake) Bitcoin or something else, and will never be.

[Haunebu]

Nothing new op. Many governments have been trying to stop BTC from a long time, but they have failed repeatedly. Some of them haven't given up on trying to ban BTC while some others gave up and settled with regulating them.

History has taught us that trying to ban BTC and other popular cryptocurrencies is a pointless endeavour which is why I wouldn't worry too much about these new proposals op.

[mynonce]

Nothing new op. Many governments have been trying to stop BTC from a long time, but they have failed repeatedly. Some of them haven't given up on trying to ban BTC while some others gave up and settled with regulating them.

History has taught us that trying to ban BTC and other popular cryptocurrencies is a pointless endeavour which is why I wouldn't worry too much about these new proposals op.

These publications/proposals impair Bitcoins growth, but I strongly believe that Bitcoin is 'unstopable'.

[Slow death]

they won't ban bitcoin, they will find some other way that will benefit the miners and the electricity allocated to the people. I don't see reasons for not reaching agreements. It's comical when environmentalists talk about the climate, the same environmentalists use fuel cars every day to get from one place to another. the same environmentalists use airplanes, don't they know that companies that build airplanes also use electricity? Don't they know that aviation fuel is something that, to be extracted, pollutes the environment?

[The Cryptovator]

It's comical when environmentalists talk about the climate, the same environmentalists use fuel cars every day to get from one place to another. the same environmentalists use airplanes, don't they know that companies that build airplanes also use electricity? Don't they know that aviation fuel is something that, to be extracted, pollutes the environment?

They know very well. But they don't like a decentralized ecosystem where they can't control everything. That's the main issue why Bitcoin haters stand against Bitcoin mining. All other sections do not have a problem those have been using renewable energy. When it's come to Bitcoin mining they raise the question.

If renewable energy is only the issue for Bitcoin mining then why they aren't interested to solve it? Isn't there a renewable energy source like hydrogen fuel? Why are they not implementing this plan? This renewable energy could use in a lot of sectors even without Bitcoin mining. But they will never do it because simply they hate decentralized cryptocurrency Bitcoin.

[noormcs5]

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

How can they stop the bitcoin which is truly decentralized ? Many governments and financial institutions have tried this in the past, but they failed to stop the invention of Satoshi Nakamoto. At one side you have an inflated flat currency which is constantly losing its value. Currently bitcoin is the only currency which is a perfect replacement of drawbacks of fiat money.

[pooya87]

There's this temporary ban of crypto mining in Iran because they can't sustain the energy that's being used for their country. In result, they have to ban mining(crypto) due to the high consumption that it has.

You are about 6 months late because about 6 months ago when the country's electricity production went down for many reasons none of which had anything to do with bitcoin mining, they decided to point the finger at someone or something so they chose bitcoin mining and even that was temporary.

[galambo]

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

Its impossible to stop bitcoin since it is decentralized and not under a single person control. Centralized coins like BNB, USDT, XRP can be controlled or manipulated since there is organization behind them controlling there blockchain. Governments can only oppose the use of bitcoin in there area of regime, to me they can only stop bitcoin on exchanges (the centralized one) other then that there is no control over bitcoin.

[worle1bm]

People have been warning PoW was a technical dead end due to energy waste since 2013.
The Eventual PoW mining ban by every country of the earth is a foregone conclusion.
That is the phase we are entering now.

The bitcoin cults nutjobs will just scream fud like when China banned it.
But China still banned it.

Ethereum is switching to Proof of Stake, to solve their PoW problem.

China didn't ban bitcoin because of environmental concerns. They take poor care of their environment as it is.

They banned it because they fear open networks such as bitcoin. They do not like having ANYTHING that cannot be censored one way or the other.

POW is not a bug in bitcoin, but one of its most important features. Don't get it twisted.

Giving up such arguments to stop bitcoin  won't help them out as if you say you are protecting environment by banning mining then it's useless completely because china building dams and skyscrapers and digging deep in the earth is environment friendly? The exact reason is they won't let freedom prevail to the common people as they have done in the past also so what else do you expect from them.You enjoy your bitcoin.

[Ozero]

a small opinion of mine that will only complicate the situation, because it is not that easy to stop the role of bitcoin in the economic market which is currently increasingly difficult, because with technology methods we can have a large role in the development of bitcoin or other crypto..

Its impossible to stop bitcoin since it is decentralized and not under a single person control. Centralized coins like BNB, USDT, XRP can be controlled or manipulated since there is organization behind them controlling there blockchain. Governments can only oppose the use of bitcoin in there area of regime, to me they can only stop bitcoin on exchanges (the centralized one) other then that there is no control over bitcoin.

Interesting reasoning you have. What will bitcoin miners do if the EU decides to ban the mining of cryptocurrency that uses the energy-consuming PoW algorithm? From the practice of a similar ban in China, we see that the share of world bitcoin mining there fell from 47 percent to zero. This is a clear answer to the question of whether the EU governments will be able to control their decision.
Sweden's appeal is quite serious in its consequences. Bitcoin could be hit first.

[Fortify]

https://www.fi.se/en/published/presentations/2021/crypto-assets-are-a-threat-to-the-climate-transition--energy-intensive-mining-should-be-banned/

''We therefore call for:

1. The EU to consider an EU-level ban on the energy-intensive mining method proof of work. There are other methods for mining crypto-assets, that could also be used for Bitcoin and Ethereum, that are estimated to reduce energy consumption by 99.95% with maintained functionality.
2. Sweden to meanwhile introduce measures that halt the continued establishment of crypto-mining production using energy-intensive methods.
3. That companies who trade and invest in crypto-assets, that were mined using the proof of work method, cannot be allowed to describe or market themselves or their activities as sustainable.''

''A ban on the proof of work mining method within the EU could be an important first step in a global move towards a greater use of more energy-efficient crypto mining methods.''

This is maybe the biggest impending threat towards Bitcoin right now, if some big countries start to administer bans on the basis of high and inefficient energy usage then it could really start to go downhill. If the whole EU were to implement the ban then it is quite possible that many other countries could follow suit. It's interesting that they mention Bitcoin transitioning to renewables as being a problem, as it takes away that capacity from their "essential services" when in fact it could be causing more renewables to be installed than they might otherwise have. Any country that implements such bans has to walk a very fine line because it could backfire massively.

[Brus123]

I think that when renewable energy will be widely used even to mine Bitcoin. People will be more calm and optimistic about Bitcoin. While it is being mined consuming so much dirty energy that pollutes our environment, there are a lot of people and organisation that are against crypto, but I think that  it will become greener soon and people will change thier tune.

[Gosgosking]

They will keep on trying to stop it but they can't and they will be tired and the more they try the more Bitcoin will continue to get popular more and more. There threat is not new,  it's a normal thing.

[Desmong]

I still don't know why bitcoin doesn't want to cross the $80k border line. The market is doing well ranging for a long time now. Who can stop bitcoin? Nobody even government are still looking for a way to stop it but still find it difficult to stop. By the time bitcoin is going to reach $100k, those 2ho are attacking the price of bitcoin now would have come to their senses in a more understanding way.

[24Kt]

I think that when renewable energy will be widely used even to mine Bitcoin. People will be more calm and optimistic about Bitcoin. While it is being mined consuming so much dirty energy that pollutes our environment, there are a lot of people and organisation that are against crypto, but I think that  it will become greener soon and people will change thier tune.

But I am thinking that even if bitcoin will be mined by renewable energy, there will be people that will still be against with it. We will not satisfy all these people. But even then, no one can stop bitcoin. It has been proven by the fact that even if Chinese banned the total usage of crypto, they couldn't crashed the popularity of bitcoin. Instead, it keeps on reaching new heights.