Is this for real?

[mindrust]

If they ban PoW and mining, Bitcoin can adapt to the new normal, ditch PoW and use PoS instead. There are many coins that use PoS and have no problems. PoW is not something we should rely on forever especially now bitcoin is using as much electricity as a  small country does. Oil/energy prices are climbing too lately and that's is going to make PoW chains a target for the governments.

[Rahman11]

In Europe for instance, cryptocurrency, and cryptocurrency mining are largely considered legal. ... More specifically, Thedéen and Risinger said Bitcoin mining alone has consumed the equivalent amount of electricity of 200,000 households.

[cryptoaddictchie]

This is more like a suggestion but who will agree to it anyway. There woukd be chaos bannign those PoW since bitcoin running on it. Is there anyone would not complain if ever this would happened? (never anyway). First of all, bitcoin is decentralized even though they ban it on centralized exchange btc would thrive on other ways. This is purely an incoming fud. We all knew this would never happen.

[StarKay]

The regulators are trying to stay relevant by always going after cryptocurrency despite not having the legal mandate to do so, there are a thousand and one problems facing them directly but they'll rather dabble into Crypto, who knows if it is an attempt to manipulate the price.

No one can ban PoW or Bitcoin in a civilized society, all they can do is stop banks from processing crypto based transactions.

[ajochems]

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.

It was not a legal in many of the country and people using it for their survival. The negative marketing on bitcoin should be omitted here. Most of peopke here will be hunters as well as the investors and ecen a new people to forum. Should not have a look on this. Over a year, price of bitcoin crossing new moon. So the survival percentage of the bitcoin was increasing daily and not reduced for the purpose. Holding also need one for profit.

[TravelMug]

It's not yet implemented though, so we don't know if EU will totally ban bitcoin and it's mining or not. But you know what, the argument is pretty lame, I mean this is the same argument about POW and mining against BTC for many years and yet bitcoin is still standing.

And if they ban it then someone and somewhere, bitcoin mining will continue to thrive and make money for businessman and investors.

[WalkerIVIV]

I hope that this was just a suggestion from the member of parliament. Bitcoin can't be banned and im sure they do know about this but the problem is bitcoin mining needs to be more concervative. He must also take a look at another sector and how many energy being wasted for nothing. People should not feel worry about that caused by this suggestion will  never be a real thing soon.
I expect people will forget this. Bitcoin will still alive even this thing will happen.

[Gayong88]

The algorithm appears to be an attempt to come up with something new and original, but it may not be as effective. In my opinion, BTC is a currency that is independent of the main issuer because bitcoin actually uses a database to be distributed to nodes from the network to the transaction journal and bitcoin actually uses a database to be distributed to nodes from the network to the transaction journal. In terms of maturity, this algorithm lags behind PoW and PoS. So, just want to see the reaction if you look at the discourse.

[darewaller]

This isn’t really something to be scared of. If EU should ban PoW cryptocurrency, they are only banning for themselves, the PoW will still continue in other places around the world except for the EU. So, it doesn’t mean the end of the ‘world’ for the Bitcoin. This is not the first time that we are seeing a country ban Bitcoin mining, when it happens the mining continues in other locations where the condition is favourable and that is simply it.

I have seen the news as well and yes it is real, they have been proposing a ban for Bitcoin. But let’s hope that it never gets to work out for them, and hope for the better. If it does happen, it’s likely that Bitcoin would be the one that would be affected. Ethereum is moving to PoS, and we don’t know for Bitcoin, but how we are seeing it, nothing is changing for now I guess.

[awik p]

In Europe for instance, cryptocurrency, and cryptocurrency mining are largely considered legal. ... More specifically, Thedéen and Risinger said Bitcoin mining alone has consumed the equivalent amount of electricity of 200,000 households.

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

[Pelana vreo]

This article is real and no country can ban POW systems, unless they disable the Internet.

If the reasons for refusal are the same as what Elon Musk said, then I can ask those who reject it, how much gas emissions are produced by power plants and mining factories that use heavy equipment to destroy the Earth by dredging gold and other things, because so far technology is constantly being developed and no one can stop it because everything is transparent

[Tellek Garing]

"Vice-chair of the European Securities" and he spits such giant bullshit. It's definitely not recommended to read the crypto-news,

I started giving up on cryptocurrency news already as their title tends to always spike panic and spread FOMO, I rather read an article that seeks to make more clarification on the subject matter and also proffer a solution to a situation such as this.

Bitcoin is part of the proof of work and bitcoin is a decentralized tool that can not be banned just like that, there are so many challenges faced by proof of work, and scalability in the future will resolve all the many challenges faced by POW.

[fullhdpixel]

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.

Lol, that’s quite a funny question . Literally just anyone can know what PoW cryptocurrency is by googling it, you know right? So there isn’t much difficulties in doing that. But would it have any effect if they should go ahead and do it? I guess not, because EU is jot the only place there is in this world. Would they do it?

We are not sure, because we also know that there would definitely be people in there at the top who are fully in support of cryptocurrency like Bitcoin and are ready to kick against any suggestion like that. For now we would wait and see if it would happen. But, I feel that it is something that is unlikely to happen? I hope so.

[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.

Lol, that’s quite a funny question . Literally just anyone can know what PoW cryptocurrency is by googling it, you know right? So there isn’t much difficulties in doing that. But would it have any effect if they should go ahead and do it? I guess not, because EU is jot the only place there is in this world. Would they do it?

We are not sure, because we also know that there would definitely be people in there at the top who are fully in support of cryptocurrency like Bitcoin and are ready to kick against any suggestion like that. For now we would wait and see if it would happen. But, I feel that it is something that is unlikely to happen? I hope so.

Government don't care about proof of work of proof of stake all they look is its decentralized means both look same for them in my opinion and they don't have any reason to ban one and support another one, either they ban both or legalize both.

[Sebas.tian]

No,it will be difficult for such action to work against bitcoin because many have tested both decentralized and centralized currency which they will not allow government to destroy the future of the youth by banning decentralized currency from the country. Bitcoin has performed signs and wonders to the world economy that is giving other countries big hope that their economy will soon move to another level that will make their citizens look comfortable with their economy.

Many countries really achieve a lot of benefits from bitcoin investment during the pandemic that was making bitcoin price stable through out the season. Now that many people has used this opportunity to buy more of bitcoin for future profit making,it will be better for all investors to stop selling their coins than to hold for the market price to go higher before anyone can supply to the market to make a good profit. Government will not band bitcoin because many of the government officials members have invested a huge amount of capital on bitcoin which they will not advise the government wrongly to carry out such negagive things about bitcoin community.

[asyakashi]

PoW has become a hallmark of bitcoin, there are regulations regarding the prohibition of PoW mining, perhaps because of the waste of energy, it can shut down bitcoin mining companies in some areas, but bitcoin will continue to be mined until the supply runs out with PoW so far there is no news if bitcoin will change its mining method.

[bamb]

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!

[evichi]

Bitcoin already have reputation and have gained ground over the years. Though the energy consumption is an issue but there are many sides to it. China recognized this issue and adopted alternative energy source that is near renewable: In December 2019, one report suggested that 73% of Bitcoin’s energy consumption was carbon neutral, largely due to the abundance of hydro power in major mining hubs such as Southwest China and Scandinavia.
(https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume).

Secondly, I have read of Solar Mining rigs for Bitcoin mining of which can be adopted for a more environmentally friendly energy. Thirdly, most power generated from some energy grids are wasted and not completely being utilized. Why not channel these excesses for Bitcoin mining or other uses? Most Oil companies waste a lot of gas and crude by flaring and no effort is made to recover the wasted gas and no serious questions about the pollution?

IMO, power belongs to the people. Moreover, there are numerous Altcoins out there. If someone feels uncomfortable using BTC then why not try other cryptos? Those that use BTC knows its worth and obviously hold to it. In my opinion, such ban may never happen. If people continue to use Bitcoin for various transactions, as well as investments, I don't think such ban will happen. What is required  will be to switch to alternative energy that is more eco friendly.

[EmmaGod]

I really don't get surprised when I see headlines on the ban of cryptocurrency because we've heard it several times. On going through the post, I understand the view of the authorities owing to the fact that a whole lot of energy is consumed mining cryptocurrency and a less economical approach could be taken to ease the burden.

[magneto]

Well, what exactly can the government do to ban PoW? Shut down the whole internet?

It's simply not possible if there is no centralized point of failure, and that is only the case for a very small subsection of the entire crypto market.

Besides, there is an increasing shift for cryptos to go to other algorithms including PoS. If need be, BTC could possibly shift to that as well (although I don't think that the community would be in support of it, nor should it happen).