Will countries ban Bitcoin mining due to environmental concerns?

[amishmanish]

Bitcoin is future gold, any country that will ban bitcoin mining will be a loss. So yes there are  downside to bitcoin mining like many human actions, but I dont think so that it is big enough to make bitcoin a pariah and force countries to ban its mining. Especially when we are seeing a uptrend in the market penetration of bitcoin. SO bitcoin will continue to flourish and be mined

[eaLiTy]

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Do you think countries worldwide will ban Bitcoin mining due to environmental concerns? If not, why? If mining is banned, do you think Bitcoin will switch to PoS? Will it still survive being a PoW cryptocurrency? Your input will be greatly appreciated. Thanks.

There will be countries that will be banning BTCitcoin mining in the name of environmental concerns but you cannot expect there will be a global ban on these aspect as there will be countries that will be taking up the opportunity to welcome miners. BTCitcoin will be a POW cryptocurrency and that is how it should be in the future as well. POS has its drawbacks as it will power the centralized investors and in due time the community will understand them .

[dothebeats]

Some countries can really be petty and ban bitcoin on the pretense of protecting the environment. But if we are going to be 'rational' these countries would just seek to implement taxes on bitcoin and crypto instead of banning it due to their concern for the environment. Remember the Paris agreement? We're almost near 2030 and not a lot of signatory countries reached their pledge goals of carbon emissions. If they can't commit to what they pledged, do you think they'll move to ban bitcoin just to 'save' the environment?

[Disruptivas]

This is a dispute over narratives, not facts. The question was never about the environment or about serious analysis of Bitcoin's impact. The point is about how to use a narrative with wide appeal (environmental issues), to enforce a point that is invalid (ban bitcoin). If the issue were really the climate issue, the focus would be on the largest industries in CO2 generation, as is the case with superships. Nobody bothers to debate the issue in depth, or analyze the matrix, the machines in places where energy would be thrown away or the potential of layer2, because the point is not to solve / improve, it's just about creating an enemy.

[Doan9269]

Bitcoin is future gold, any country that will ban bitcoin mining will be a loss.

I don't see any reason tangible enough for bitcoin ban compared to other resources mining and their impediment dangers to the environment, if you consider how gold is been mined to that of bitcoin then you could imagine the difference and margin between the two in terms of the rate they poses environmental hazards, i believe governments make these proposals to ban bitcoin since it beyond thier ability to regulate it, otherwise many are saying if it's been ban POS may be the solution but PoW is what we cannot do without for now not until the whole 210,000 blocks were achieved.

[Slow death]

Do you think countries worldwide will ban Bitcoin mining due to environmental concerns? If not, why?

it is not possible for all countries in the world to ban bitcoin mining because all countries in the world want green energy and consequently that same green electricity will be used by miners, so it would not make sense to ban mining when there is green electricity, what countries will do is demand that the miners use green electricity in their operations, of course this will take years to happen, maybe even 10 years, all countries in the world are still not 100% ready to just use green electricity, that's why it makes no sense to ban mining from bitcoin, even 10 years from now it won't make sense

If mining is banned, do you think Bitcoin will switch to PoS? Will it still survive being a PoW cryptocurrency?

bitcoin doesn't need to move to POS, not even 10 years from now, bitcoin doesn't need to move to POS, as the years go by more green electricity sources will appear and miners will use

[AakZaki]

Governments that mean well for cryptocurrency growth will rather aim for alternative energy for the mining of Bitcoin. Government itself are the greatest violators of green environment support since most of them collect royalties that permit emission of hydrocarbon gases. They allow royalties when there is pollution - oil/gas pollution. Unless the government have other mission against crypto, the proper thing is to emphasize on the use of Solar Energy, Wind Energy, etc. to power computers for the mining of Bitcoin (uses Proof-of-Work algorithm). Governments that understand the good values of crypto will not be in a hurry to advocate to ban Bitcoin due to mining using hydrocarbon.

After china yesterday New York, it seems that The current New York is the place of migration of chinese people. But New york also regulates mining. They use the environment to make regulations for the ban on bitcoin mining.
In fact, I believe that mining also provides state income. I think actually the government can find a solution with the use of alternative energy that is environmentally friendly and will not run out like fossils.

[Gyfts]

Do you think countries worldwide will ban Bitcoin mining due to environmental concerns? If not, why? If mining is banned, do you think Bitcoin will switch to PoS? Will it still survive being a PoW cryptocurrency? Your input will be greatly appreciated. Thanks.

They don't need any reason to ban Bitcoin. If they wanted to ban bitcoin, they could and wouldn't need to cite environmental concerns. What you're currently seeing is Bitcoin regulation for security concerns as their excuse.

Politicians don't understand energy consumption and so they have false notions that Bitcoin mining requires copious amounts of energy. It doesn't when compared to other financial systems and payment processors, and of course they wouldn't know that because they haven't done the most basic amounts of research.

[qwertyup23]

Do you think countries worldwide will ban Bitcoin mining due to environmental concerns? If not, why? If mining is banned, do you think Bitcoin will switch to PoS? Will it still survive being a PoW cryptocurrency? Your input will be greatly appreciated. Thanks.

I do not think so but there are environmental movements being created against cryptocurrency mining.

As far as I remember, there was a similar post like this one and someone extensively replied, saying that the heat generated by cryptocurrency mining is relatively low to the point that it does not produce as a pollution perse compared to other pollutions present. Unfortunately, instead of addressing current and worse pollutions in the world, these movements are targeting cryptocurrency mining because of pure hatred.

Like what some countries have done, a miner can geographically and strategically setup their mining equipments in countries or places with a cool climate to reduce the outgoing heat. But I really doubt that countries would permanently ban cryptocurrency mining.

[zeuner]

The more reasonable approach in case mining energy consumption is considered as too much would be to nudge down the mining volume, e.g. by taxing the mining itself or the energy required to do so. After all, Bitcoin will still work with a proportional reduction of global mining power.

Banning mining completely without any scientific evidence that PoW can be replaced without degrading some of the characteristics of the consensus protocol would essentially unmask the decision-making as being driven by emotion rather than by rationality. Of course, these things happen, which can be seen with comparable decisions like dictating "encrypted" communication protocols that involve a man-in-the-middle setup.

[tadamichi]

The more reasonable approach in case mining energy consumption is considered as too much would be to nudge down the mining volume, e.g. by taxing the mining itself or the energy required to do so. After all, Bitcoin will still work with a proportional reduction of global mining power.

Wont work in practice, because not every country will do it. So any country that introduces this tax will just weaken themselves, without much effect on mining power.

But im sure there are countries who will try this for virtue signaling purposes.

Also taxing energy will affect everyone and not just miners. And if miners use renewables it will be hard to even trace their energy.

[pooya87]

The more reasonable approach in case mining energy consumption is considered as too much would be to nudge down the mining volume, e.g. by taxing the mining itself or the energy required to do so. After all, Bitcoin will still work with a proportional reduction of global mining power.

That's now how it works. If one country started placing any kind of restriction on mining whether it is an all out ban or high taxation, what would happen is that the miners start migrating to another country and the hashrate will stay up but in another territory.

[RealMalatesta]

I recently saw a topic and article where people are discussing banning bitcoin mining in new york city, It's not really surprising if I see some countries are doing the same thing for the whole country. bitcoin mining ban is profitable for the government because they can milk some money from the miner by getting tax from them but on the other hand, they have to supply some power for them and this can be hard especially during the summer when power usage increases also some governments have to use fossil energy resources to supply the power which is not good for the environment and this can be another reason.

Banning and taxes are different things. If you ban something, that means the person who mines there needs to pack it up and leave to another place, taxing is another because there you get to just make money from it however you want.

You are right about the other parts, where it would be hard for nations to provide energy for those who need it, miners require a ton of energy and during summer months between the AC and the heat, mining becomes a very very difficult thing, it becomes such a difficult thing that you start to reconsider what you are doing with it and even maybe pause it during, because cooling that system down becomes more expensive than the revenue itself.

[Nrcewker]

Most recently, the state of New York (in the US) passed a bill to ban Bitcoin mining due to environmental concerns. Some time ago, the EU did something similar (although it came into law) making both investors and miners largely concerned about the future of PoW cryptocurrencies like Bitcoin and Dogecoin. If FUD related to PoW mining damaging the environment persists (remember Elon Musk also criticizing Bitcoin?), then cryptocurrencies with PoW algorithms will be forced to switch to PoS altogether. Bitcoin will be the mostly affected since it's the biggest PoW cryptocurrency in the world. Growth for the pioneer cryptocurrency will stifle, forcing miners to close down their business for good.

Do you think countries worldwide will ban Bitcoin mining due to environmental concerns? If not, why? If mining is banned, do you think Bitcoin will switch to PoS? Will it still survive being a PoW cryptocurrency? Your input will be greatly appreciated. Thanks.

This only happens in the US I guess. I mean there are also multiple factors that hampers the environment, yet they are not banned, but yes they are planning to ban bitcoins.
This is just another excuse i guess.
I mean when they are unable to control something, they try to ban it.
Due to Bitcoin’s decentralised nature, it cannot be controlled by the government, so hence they are seeking some ways to ban it.
Nevertheless this won’t happen in the near future for past some years. So let’s do not worry about this.

[coupable]

The more reasonable approach in case mining energy consumption is considered as too much would be to nudge down the mining volume, e.g. by taxing the mining itself or the energy required to do so. After all, Bitcoin will still work with a proportional reduction of global mining power.

It's quite clear how/why governors of the new world discuss the threatens brought by the spreads of Bitcoin technology. One aspects is the energy consumption for money, so following the same logic by which we treat the bictoin energy cases, then why we don't discuss the dilemma with the military weapons industry? Does anyone talked about those big urgent problems?

[bitterguy28]

Yesterday I saw that the Chinese state banned bitcoin miners in their country, but not because of environmental factors but maybe other factors so that the Chinese government concluded that bitcoin mining in their country was illegal.

What? Yesterday? are you sure about that? Mining had been banned from Chinese government since last year , where did you read this  News? are your news team are delayed by years? 

and also it is not about the chinese , but the world is in questioned here.

Bitcoin is future gold, any country that will ban bitcoin mining will be a loss. So yes there are  downside to bitcoin mining like many human actions, but I dont think so that it is big enough to make bitcoin a pariah and force countries to ban its mining. Especially when we are seeing a uptrend in the market penetration of bitcoin. SO bitcoin will continue to flourish and be mined

this should be heard and understood by all countries because it is their losses for not letting bitcoin mined and circulate in their areas.

[Rufsilf]

Yesterday I saw that the Chinese state banned bitcoin miners in their country, but not because of environmental factors but maybe other factors so that the Chinese government concluded that bitcoin mining in their country was illegal.

I think you miss the information mate as they ban Bitcoin and any crypto activities in their country for many years, I don't think they have a plan to lift the ban.

https://www.euronews.com/next/2022/04/27/bitcoin-ban-these-are-the-countries-where-crypto-is-restricted-or-illegal2

But their issue is not about environmental concerns, it is all about failing to control Bitcoin and crypto mining. They make their own digital currency instead of having Bitcoin.Many countries are opposing Bitcoin mining but somehow, many countries had also given their support. That I think banning in one country can't influence to other especially if electricity is not a problem with them.

[AicecreaME]

Some countries can really be petty and ban bitcoin on the pretense of protecting the environment. But if we are going to be 'rational' these countries would just seek to implement taxes on bitcoin and crypto instead of banning it due to their concern for the environment. Remember the Paris agreement? We're almost near 2030 and not a lot of signatory countries reached their pledge goals of carbon emissions. If they can't commit to what they pledged, do you think they'll move to ban bitcoin just to 'save' the environment?

Unfortunately, some countries are really just petty and low. It's not really unknown that some countries are not really in favor and doesn't really like bitcoin. Perhaps this is their real agenda on such banning. They just use the environmental concern as a front to be able to ban bitcoin without stirring much argument and unnecessary attention from its users. Although not every country is like this. There are still a few which are open about it and have a neutral stance.

If they will really ban bitcoin, surely the users in that certain place will protest. They will have lesser opportunity to generate taxes and there will be people who will lose their livelihood if such will really push through. I just hope that before the government officials finally decide, they must ask their constituents first because after all, they are the ones they are serving and not the other way around.

[Rotas World]

Most recently, the state of New York (in the US) passed a bill to ban Bitcoin mining due to environmental concerns. Some time ago, the EU did something similar (although it came into law) making both investors and miners largely concerned about the future of PoW cryptocurrencies like Bitcoin and Dogecoin. If FUD related to PoW mining damaging the environment persists (remember Elon Musk also criticizing Bitcoin?), then cryptocurrencies with PoW algorithms will be forced to switch to PoS altogether. Bitcoin will be the mostly affected since it's the biggest PoW cryptocurrency in the world. Growth for the pioneer cryptocurrency will stifle, forcing miners to close down their business for good.

Do you think countries worldwide will ban Bitcoin mining due to environmental concerns? If not, why? If mining is banned, do you think Bitcoin will switch to PoS? Will it still survive being a PoW cryptocurrency? Your input will be greatly appreciated. Thanks.

There’s more good than harm. BTC might have a strong issue surving being a PoW cryptocurrency but it’s BTC it always survives. It’s way better being PoS though

[wxa7115]

Some countries can really be petty and ban bitcoin on the pretense of protecting the environment. But if we are going to be 'rational' these countries would just seek to implement taxes on bitcoin and crypto instead of banning it due to their concern for the environment. Remember the Paris agreement? We're almost near 2030 and not a lot of signatory countries reached their pledge goals of carbon emissions. If they can't commit to what they pledged, do you think they'll move to ban bitcoin just to 'save' the environment?

Unfortunately, some countries are really just petty and low. It's not really unknown that some countries are not really in favor and doesn't really like bitcoin. Perhaps this is their real agenda on such banning. They just use the environmental concern as a front to be able to ban bitcoin without stirring much argument and unnecessary attention from its users. Although not every country is like this. There are still a few which are open about it and have a neutral stance.

If they will really ban bitcoin, surely the users in that certain place will protest. They will have lesser opportunity to generate taxes and there will be people who will lose their livelihood if such will really push through. I just hope that before the government officials finally decide, they must ask their constituents first because after all, they are the ones they are serving and not the other way around.

At least to me it is clear that is what they want, they have been trying over the years to find something to incite the public against bitcoin, and they think they have finally found what they need to ban bitcoin and gain the support from the population.

They tried to use the fact that bitcoin is not backed by them to damage its reputation but this backfired as this is something we like, they tried to link criminal activity to this market and people just understood that criminals will use whatever they have available, including fiat, however it seems environmental concerns will be one of their main weapons to ban bitcoin, but over the long term not even this excuse will work.