Is this for real?

[DevFile90]

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?

[LegendaryK]

The article is real , and they are talking about banning all coins using PoW, so doge and litecoin and many others would be included.
Ethereum should be PoS by then , so it would avoid any PoW bans.

[Findingnemo]

Probably he is holding lot of PoS coins and missed out investing on PoW at the earliest stages so he wanted to make everyone wrong.

Does government knows the difference between PoW and PoS? I don't think so.

[Natalim]

Perhaps, so many tried banning crypto but actually, they fail in the end. I certainly don't like seeing this happen to POW crypto projects but there is one thing I could say, real and working projects will survive, the rest will die. As even the government will ban PoW projects, Bitcoin seems to have an exemption because of its real purpose and the benefits that it could give to the community, unlike the others.

I think this weighs much for that.
https://www.euronews.com/next/2022/01/19/eu-regulator-calls-for-a-ban-on-proof-of-work-bitcoin-mining-to-save-renewable-energy

[masterrex]

IMHO, I think it's related to those reports that the Proof of Work ( PoW) coins is using voracious energy requirements in their respective mining process and Bitcoin is one of those Proof of Work (PoW)function through mining, and since Bitcoin is working that way it might be affected by that so-called ban.

Anyway, I believe there's nothing final yet because the article was only said recommending based on that word that uses it's just a recommendation and no final decision yet so I guess let's just be positive for the moment.

[Psynthax]

The article is real , and they are talking about banning all coins using PoW, so doge and litecoin and many others would be included.

Just hope if that thing will not be a real thing and they will not try to ban the POW coin. This will give a very bad sentiment to the market as we know that so many crypto users are also coming from the EU as well.
Im feeling worry if this will be affecting the condition of crypto market but i hope this is just a speculation and this won't be real.

Ethereum should be PoS by then , so it would avoid any PoW bans.

Yeah but soon and not for now. This time it's still hybrid as some may still use ethereum POS and in another case majority of miners are still active that means ethereum was still using POW consensus.
That needs at least a year to make it happen but im not sure if ethereum fully migrated to the POS

[ryzaadit]

See the word "Recommend'

That's means they only suggested the regulation, by the way they can't stop anything. Bitcoin has been designed to run by himself, so keep going even Satoshi leave the community. It's only like Ban news same as other, so maybe they will block any transaction bitcoin.

You Cant BAN blockchain ~XD

[Kunnu]

This is not gonna happen. What I have seen so far, mostly European countries and it's people have positive thoughts about crypto currencies even if these crypto currencies run on any algorithm it doesn't matter. The fake media is ruining everything in the world and wants you to think negative, we mustn't believe on them, only beleive on facts and your understanding.

[avikz]

Any country or continent can ban POW algorithm if they believe in the false narrative from the environmental workers. But does that mean, it will effect bitcoin? Yes. There will be temporary impact till the time EU miners move to a crypto friendly jurisdiction.

If the ban happens in reality, there will be other countries to rope into that opportunity and possibly provide a friendly legislative framework for pow mining. It says, when a door closes, few others open up! So that will not be an end to bitcoin for sure!

[Zotak337]

Good luck with that EU I don't think this is going to be possible, ban on BTC isn't a old news anymore we've heard this too many times already, PoW algorithm is complete decentralized unlike proof of staking, I will sit back and watch how this play out.

[evilgreed]

               The main thing consider about this is the word "recommend" which ryzaadit mentioned. Which means that this has not come me into pass yet or has not happened yet. On the FUD side, it barely compares to the current FUDs circulating around the web that affects this industry. However though, if this recommendation gets a status of "being considered seriously" by the parties that do have the ability to make it happen, then that would be able to cause some serious FUD despite it being unreasonable and impossible to be approved since it would trample on the majority of the coins/tokens in this industry.

[goaldigger]

IMHO, I think it's related to those reports that the Proof of Work ( PoW) coins is using voracious energy requirements in their respective mining process and Bitcoin is one of those Proof of Work (PoW)function through mining, and since Bitcoin is working that way it might be affected by that so-called ban.

The energy usage for Bitcoin Mining has been an issue since then, and if this is the reason that support with numbers, there's a higher chance for banning PoW and that could really affects Bitcoin.

Though, Its just a recommendations and most probably will go through a lot of studies before the decisions came out so let's not panic yet and stay focus on real news that is already out in the market affecting the price trend, I'm still confident that this will not happen now that cryptocurrency is growing.

[Godwinpaul]

I really don't see any need for panic, because the government is yet to make a final decision as regards the Pow algorithm and they're only considering the ban. I'm personally not scared probably because I don't have a substantial amount of Bitcoin, but majorly because I know we've heard countless times of government ban and cryptocurrencies are still Striving across several climates and countries.

[X-ray]

It's more likely as a suggestions rather than a regulation to be ban POW coin. I will take this as a draft rather than something that already implemented. You must not feel worry and shill dude. This is something that you didn't need to feel worry. bitcoin is dead so many times and it was coming again and again since the decentralized system can't be disrupted with only using the regulation as a way to prevent it. CHN was far aggresive compared with EU. I hope that miners will be migrating to the renewble energi to change people's mind about that. It seems like another confirmation news about this rumour will be needed to drive the sentiment of the market.
Since bitcoin was true decentralized and im not even worry with this.

[batang_bitcoin]

The question should be, what's next after banning PoW? They'll ban bitcoin? How are they going to implement that ban for all of the miners that are designated in different parts of the world?
That doesn't make sense even if they impose any ban for bitcoin and for pow. They just can't cover the whole world with that type of policy. So any ban that happens for bitcoin, it's just for an specific place but in other places, it doesn't have much impact.

[Little Mouse]

That's a recommendation, not a decision lol.
I don’t think that's going to happen ever that we will see bitcoin banned. But even if it gets banned by regulatory body, I believe the use will not decrease, instead it will have negative marketing impact. Bitcoin isn’t legal in Bangladesh but we are using that.

[amishmanish]

You cannot ban PoW.

You cannot ban Bitcoin.

What does it even mean to ban PoW currencies like Bitcoin?

Banning two unbannable things at the same time does not change the outcome. If EU bans it, what will happen most likely is that people will simply either cold-wallet their BTC (as it'll still keep functioning due to PoW capacity elsewhere), or wrap them into some ERC-20 or token on other PoS chain to be used as collateral. There is no way that such a "ban" can come into practice.

[VRExpress]

Banning PoW algorithm means taking the fight to BTC I don't see how they can do this because BTC stands alone with no borrowed power from any entity or centralised organisation, thanks to Satoshi well this is only a recommendation it's not that serious.

[BlackHatCoiner]

"Vice-chair of the European Securities" and he spits such giant bullshit. It's definitely not recommended to read the crypto-news, I'm usually frustrated by these articles. Where there's money, there's manipulation. I can think of a thousand reasons why this article exist rather than to "inform" us. We've heard of this before, but in reality they can't do a shit. I doubt if any of those gentlemen has contemplated the aspects of PoW and PoS.

Interests, interests, in-te-rests!

[wxa7115]

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?

Yes, it is real, you need to understand that a great deal of the politicians are not really experts at anything and they just got where they are because of their connections, so there are two possibilities, this is just another attempt to ban bitcoin but they are doing so in such a way to avoid even saying its name or this is an attempt by the environmentalists to try to protect the planet, or at least that is what they think.

In the first case scenario there is not much to comment as we know that many governments around the world want to ban bitcoin because they are trying to protect their fiat, and in the second case those people are misguided, it seems they want us to go back and live inside caves while we barter with each other instead of living in an advanced society.