What if crypto mining is outlawed ?

[Natalim]

always think positively about the progress of bitcoin, if you believe in bitcoin, avoid FUD about bitcoin because it will make you always think that you are not comfortable investing.
because FUD aims to drop the value of BTC at its base, so close your ears and eyes for a moment for peace

It makes us distracted and even influences us to think negatively as well. This happens to most of the people 12 years ago, what if and what if? We probably have that in our mind before, to think negative is somewhat normal but can't just live it there, we also have to look on the positive side that could make a change. Well, in fact, for many years that some countries are banning crypto but others did not follow as they are not convinced, and this is also the same as mining. For real, people will find a way even how stricter the government is.

[Bybit Official]

In a nutshell, Bitcoin would adapt.

Let us consider the actual ramifications of this scenario. At present, we have seen so called "mining bans" occur with the predictable impact on price. The psychological impact of news like this is the biggest component; confidence in Bitcoin is undermined whenever significant, especially restrictive regulation hits the news cycle. The network itself never suffers any real harm, and the hash rate eventually balances out as miners simply move to a new jurisdiction where mining is permitted.

So what about a scenario where mining is outlawed on a global scale? Be it due to environmental concerns, financial regulation, or any number of unforeseen reasons? Always remember, bitcoin is a living and breathing thing. If the consensus method (proof of work) is the problem, we can easily fork and change to a new method. It's hard to believe that the community would give up on this grand experiment so easily, given the trials and tribulations we have gone through so far to get here. Bitcoin is far from set in stone. And as it continues to evolve, we will undergo a number of radical changes to create the most perfect network we can achieve.

[AakZaki]

Bitcoin mining for some countries has a significant loss impact, but for other countries that are pro with bitcoin, bitcoin mining can actually increase the income of the country. Regarding the use of energy for mining, of course there will be alternative energy that is environmentally friendly and it is being done by some of the big miners at this time. The pros and cons for bitcoin mining will certainly continue to exist. If crypto mining is prohibited, of course, it will take longer to supply bitcoins that can be mined. and FUD will also be more and more scattered.

[South Park]

China banned miners, the EU is thinking of doing the same and what if others will follow?

In a hypothetical scenario where China, US Canada, Russia, India and EU ban pow mining I doubt the smaller countries can sustain the current active miners. Hashrate would drop significantly and the network would be weaker.
Either there would be a massive investment in solar in many developing countries or we might see the first 51% on BTC (hope not).

Do you see this as a potential threat or did the fud get in my head?

Where others see risk someone else will see an opportunity, it is going to be almost impossible to have a complete ban of mining all over the world, at some point some countries will look at the mining industry and will see in it a way to get revenue, and as such they will allow miners to stay in their country, now this could rise the costs of mining, which means only the most efficient miners will survive, but this is nothing really new at all.

[pushups44]

With the amount of money pouring into the space, it is highly improbable that all nations will ban bitcoin simultaneously. Bitcoin operates under game theory, so that there will always be certain governments taking advantage of it if they see others shunning it, given that it is a decentralized protocol that can never, in practice at least, be eradicated - with heightened rewards for miners the more of them drop out, by choice or by force. And even if all nations banned bitcoin simultaneously, underground miners would operate to mine bitcoin and keep the network running.

Again, in practice bitcoin cannot be banned everywhere at the same time.

[cryotreasure]

From the perspective of these countries, they believe that bitcoin mined with their own resources will be exchanged for dollars triggered at any time. With the continuous issuance of US dollars, the price of bitcoin has been soaring. After their nationals bought bitcoin, the value of bitcoin fell, and finally the assets in people's hands decreased. These countries believe that their resources have been stolen. I guess so.

[goldkingcoiner]

Unless crypto mining was made illegal worldwide, which is EXTREMELY unlikely, then it would remain in the world. Miners would just go to different countries where mining is allowed.  So even if somehow it was worldwide illegal, we would still find ways around it. But if there were absolutely no ways around it and no ways to mine, even secretly, then we would just have to accept it and find new ways to keep the blockchain going.

Struggle fuels innovation.

[Kelvinid]

Unless crypto mining was made illegal worldwide, which is EXTREMELY unlikely, then it would remain in the world. Miners would just go to different countries where mining is allowed.  So even if somehow it was worldwide illegal, we would still find ways around it. But if there were absolutely no ways around it and no ways to mine, even secretly, then we would just have to accept it and find new ways to keep the blockchain going.

Struggle fuels innovation.

They will pronounce it illegal if that will harm us but since it could provide us a good living for miners, that is certainly impossible it will be banned globally. That what-if question is only for those who are doubtful in the market and only the thing they just think is negative.

Cryptocurrencies have been grown wild and getting spread across the globe which means that every government is already aware of its capabilities. And upon seeing the support of some countries (developing countries) the more we are comfortable that the crypto mining industry will grow as well.

[so98nn]

This changes nothing. It will just re-direct the whole power to the countries where mining is still strong enough and legal. For example, imagine El Salvador where bitcoin is considered as legal tender, it will get the upper hand and thus gain the whole and sole power to mine the crypto. Stopping the crypto mining won't stop the use of the crypto currencies in any country as it is online, and it can not be practically banned or stopped from using.

So left over mining power and followed by it's reward, will be given to El Salvador (example). Imagine they have will have huge amount of assets in their hands.

If other countries do this, then they will be dropping the axe on their own legs!

[KaliLinux]

always think positively about the progress of bitcoin, if you believe in bitcoin, avoid FUD about bitcoin because it will make you always think that you are not comfortable investing.
because FUD aims to drop the value of BTC at its base, so close your ears and eyes for a moment for peace

True that. Even after China banned the mining of Bitcoin, has it not recovered after then? all this negative news will always follow Bitcoin for now until there is no other negative FUD to peddle about Bitcoin and as you said until it actually happens that crypto mining has been banned all over those countries which I also think is unlikely, it is good to have a positive mindset about your investment so you don't act irrationally.   

[pinggoki]

If there's a possibility that mining gets banned, then that can only mean that bitcoin would go up in prices and with mining being banned, a lot of the equipment for it is going to get expensive because people will still mine no matter what and they will find a way, if you make something illegal and there's a big demand for it then expect that the prices get affected.

[LUCKMCFLY]

This changes nothing. It will just re-direct the whole power to the countries where mining is still strong enough and legal. For example, imagine El Salvador where bitcoin is considered as legal tender, it will get the upper hand and thus gain the whole and sole power to mine the crypto. Stopping the crypto mining won't stop the use of the crypto currencies in any country as it is online, and it can not be practically banned or stopped from using.

So left over mining power and followed by it's reward, will be given to El Salvador (example). Imagine they have will have huge amount of assets in their hands.

If other countries do this, then they will be dropping the axe on their own legs!

You are right, in fact this would be a great deal for El Salvador, also that there will always be ways to mine BTC so that everyone can have their transactions quickly and safely, in the case of Venezuela their government is mining, and has such control It is It is very good that everyone who decides to engage in mining has to register with SUNACRIP, this as to maintain control, otherwise if they do not do so it would be considered almost a crime, where the person or persons will be imprisoned.

[tippytoes]

This changes nothing. It will just re-direct the whole power to the countries where mining is still strong enough and legal. For example, imagine El Salvador where bitcoin is considered as legal tender, it will get the upper hand and thus gain the whole and sole power to mine the crypto. Stopping the crypto mining won't stop the use of the crypto currencies in any country as it is online, and it can not be practically banned or stopped from using.

So left over mining power and followed by it's reward, will be given to El Salvador (example). Imagine they have will have huge amount of assets in their hands.

If other countries do this, then they will be dropping the axe on their own legs!

You are right, in fact this would be a great deal for El Salvador, also that there will always be ways to mine BTC so that everyone can have their transactions quickly and safely, in the case of Venezuela their government is mining, and has such control It is It is very good that everyone who decides to engage in mining has to register with SUNACRIP, this as to maintain control, otherwise if they do not do so it would be considered almost a crime, where the person or persons will be imprisoned.

Now, that we have a country which makes bitcoin as legal tender, it won't be very hard for other miners to think where they will go if situation becomes worst in their region. So I don't think it is in the best interest of those countries that are planning to ban these miners. Look at what happen when China banned their miners, some just went to other neighboring countries but others I believe, some are operating underground as there is still hashrate shown from China. Also, btc keeps surviving even without their participation, considering that China a very big country.

[Wawa2013]

This changes nothing. It will just re-direct the whole power to the countries where mining is still strong enough and legal. For example, imagine El Salvador where bitcoin is considered as legal tender, it will get the upper hand and thus gain the whole and sole power to mine the crypto. Stopping the crypto mining won't stop the use of the crypto currencies in any country as it is online, and it can not be practically banned or stopped from using.

So left over mining power and followed by it's reward, will be given to El Salvador (example). Imagine they have will have huge amount of assets in their hands.

If other countries do this, then they will be dropping the axe on their own legs!

You are right, in fact this would be a great deal for El Salvador, also that there will always be ways to mine BTC so that everyone can have their transactions quickly and safely, in the case of Venezuela their government is mining, and has such control It is It is very good that everyone who decides to engage in mining has to register with SUNACRIP, this as to maintain control, otherwise if they do not do so it would be considered almost a crime, where the person or persons will be imprisoned.

Now, that we have a country which makes bitcoin as legal tender, it won't be very hard for other miners to think where they will go if situation becomes worst in their region. So I don't think it is in the best interest of those countries that are planning to ban these miners. Look at what happen when China banned their miners, some just went to other neighboring countries but others I believe, some are operating underground as there is still hashrate shown from China. Also, btc keeps surviving even without their participation, considering that China a very big country.

In the end, a country that prohibits its residents from doing crypto mining will not stop the population using cypto. Because just like
the residents of China where their country's government forbids crypto mining, Finally, it was found that many Chinese residents moved
their mining place to other countries or even Chinese residents did it in secret. Even though if it is legalized there will be benefits that
the Chinese government can get, starting from the increase in tax income and also the economy of the Chinese population will be much
more improved. Sometimes as the holder of power, they have to be able to think wisely and be able to make decisions that do not harm
the population. It seems that the Chinese government is too selfish and did not think long about the decision to ban crypto mining.
Don't let China regret seeing other countries that legalize crypto mining,  because the country has progressed, and the economy has
increased significantly.

[Vaskiy]

This changes nothing. It will just re-direct the whole power to the countries where mining is still strong enough and legal. For example, imagine El Salvador where bitcoin is considered as legal tender, it will get the upper hand and thus gain the whole and sole power to mine the crypto. Stopping the crypto mining won't stop the use of the crypto currencies in any country as it is online, and it can not be practically banned or stopped from using.

So left over mining power and followed by it's reward, will be given to El Salvador (example). Imagine they have will have huge amount of assets in their hands.

If other countries do this, then they will be dropping the axe on their own legs!

You are right, in fact this would be a great deal for El Salvador, also that there will always be ways to mine BTC so that everyone can have their transactions quickly and safely, in the case of Venezuela their government is mining, and has such control It is It is very good that everyone who decides to engage in mining has to register with SUNACRIP, this as to maintain control, otherwise if they do not do so it would be considered almost a crime, where the person or persons will be imprisoned.

Now, that we have a country which makes bitcoin as legal tender, it won't be very hard for other miners to think where they will go if situation becomes worst in their region. So I don't think it is in the best interest of those countries that are planning to ban these miners. Look at what happen when China banned their miners, some just went to other neighboring countries but others I believe, some are operating underground as there is still hashrate shown from China. Also, btc keeps surviving even without their participation, considering that China a very big country.

When China made a ban on Cryptocurrency mining, people moved towards Iran. Now there is some power issues and 80% of the miners are running it illegally. Now the active miners of Iran will look for some other country that support it. With mining when someone leaves, there are people ready to occupy the space. At any point cryptocurrency mining isn't gonna outlawed even if countries gets united. There are power issues and companies are working on it to make cryptocurrency mining power efficient.

[Henrobakkara]

China banned miners, the EU is thinking of doing the same and what if others will follow?

In a hypothetical scenario where China, US Canada, Russia, India and EU ban pow mining I doubt the smaller countries can sustain the current active miners. Hashrate would drop significantly and the network would be weaker.
Either there would be a massive investment in solar in many developing countries or we might see the first 51% on BTC (hope not).

Do you see this as a potential threat or did the fud get in my head?

I would rather have us not get ahead of ourselves in this assumption. I understand the fear of many but we have also seen cryptocurrencies adopted as a legal tender, well Bitcoin to be precise so if this is the case, maybe just that one country will be the haven for all miners peradventure what you are thinking happens which I doubt anyways will happen besides I believe other countries even if they have not adopted Bitcoin as a legal tender but they are not against it either, so I believe we are good.

[pakdemaco11]

if crypto mining is banned I think the price will skyrocket because if mining is banned it will be difficult to get crypto assets without buying but I think miners will still be there even if they are banned because there are so many smart and creative people who will look for flaws and find ways to mine without known.

[stompix]

if crypto mining is banned I think the price will skyrocket because if mining is banned it will be difficult to get crypto assets without buying

Mining is dependent on the price not the other way around.
Plus, unlike oil the price will not rise like in the case of half of the OPEC cutting drilling, after one epoch and difficulty adjustment the network will run just as it did previously, 1 million miners or 10 000 after adjustments it will be the same, the only thing that will change will be the security of the network.

This changes nothing. It will just re-direct the whole power to the countries where mining is still strong enough and legal. For example, imagine El Salvador where bitcoin is considered as legal tender, it will get the upper hand and thus gain the whole and sole power to mine the crypto. Stopping the crypto mining won't stop the use of the crypto currencies in any country as it is online, and it can not be practically banned or stopped from using.

So left over mining power and followed by it's reward, will be given to El Salvador (example). Imagine they have will have huge amount of assets in their hands.

Yeah, that's what you're going to believe if you trust the bs Bukele spreads all day..
He claimed he had a 200MW drilled and ready to mine bitcoin back in July...where is it?

Salvador total energy production from geothermal (cause Vulcano energy is geothermal) is just 644 MW, assuming all that will be used for mining so current users will have to switch to something else, and 100% capacity factor you have 5Twh. Compared to 200, is 2.5%.

Countries editing the power? At what price? 

[Slow death]

Mining is a business and it will not stop, there are always countries that will accept that people mine in their country. this issue of electricity consumption is a very pointless subject to debate, banks also spend electricity, there are companies that spend a lot of electricity and pollute the environment and little is said about it, some journalists and people of extreme humor continue to speak badly of cryptocurrency mining ignore the damage that other companies are doing

[lenovop-70]

I think mining activity should be outlawed, because no one is harmed directly by it, I mean, mining could become a real job one day. After all, with the presence of miners, their existence will strengthen the work of the blockchain itself, in a certain ratio. So I don't agree with those who limit mining activities in their area, just free opinions, not meant to offend.