Will countries ban Bitcoin mining due to environmental concerns?

[Woodie]

Bitcoin mining has always come under pressure over its carbon footprints emissions and all things considered this fight is far to big for bitcoin to fight alone because before it there has been carbon emissions coming from automobiles and this as gone on for a very long time and governments have had their hands tied on the best approach on this. But of course we don't need to wait to be told on the damage done to the environment, ones conscious needs to know that going green is the next best step.

[1715103879]

1715103879

[WeThePe0ple]

When a mining ban is imposed, does this mean BTC will go to 0?

Because even if only 80% of the maximum 21 million coins are mined, people can still keep these coins or trade them as a store of value.

[capedbaldy]

When a mining ban is imposed, does this mean BTC will go to 0?

Mining bans are enforced depending on the regulations of a country because some countries do not support the legalization of cryptocurrency, they will have any reason not to provide permits for mining, but mining continues without the influence of regulations. Even Shell will be involved in crypto to provide a solution to the high demand for energy required for mining and we hope that its efforts will provide positive support to crypto mining.

[mvdheuvel1983]

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 is no denying that mining bitcoins uses a lot of electricity. Adoption may be impacted by this. Building a system within Bitcoin that enables using a portion of transaction costs as a tax to fund renewable energy projects is one potential approach.
You can contribute 5% of your transaction charge to renewable energy if you are willing to pay outrageous rates for your transaction.

[Casdinyard]

There's a good chance they may impose restrictions or outright bans on small-scale bitcoin mining because it is the most deteriorating form of crypto mining that exists today. Large-scale minings aren't that debilitating as they use their very own energy source as a way to power their operations. Small-scale GPU/CPU miners use their local grid's electricity supply and therefore their local energy resource to power their operations which is not only sustainable on the provider's part, but is also detrimental to the quality of the environment. Add to this the fact that more and more people are becoming more aware and active in protesting for the welfare of the environment, and it's sure as shooting that they'd impose such bans in the future if this type of situation keeps up.

[zeuner]

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.

Bitcoin mining energy consumption is just a symptom of possibly (considering environmental concerns raised lately) too cheap energy prices. If energy became 10 times as expensive, difficulty would just adjust, and energy consumption would drop.

Therefore, banning PoW mining would not really be an example of sane politics. Not saying that it won't happen - insane decisions in politics are surprisingly common. But the most reasonable approach towards environmental concerns would be to just tax electrical energy. This way, not only Bitcoin energy consumption would drop, but also energy consumption of other industries that are less transparent about how much energy consume, compared to Bitcoin.

[Davidvictorson]

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.

If the countries worldwide did not ban or cannot ban tree cutting to print fiat due the supposed climate change policy, I see no reason why bitcoin mining should be ban. Their argument about the effect of mining on the environment is just as the same as that of tree-cutting. However, I do believe that using solar and wind power would make bitcoin mining more environmentally beneficial. The issue is that many bitcoin miners are looking for locations with low electricity cost to mine the cryptocurrency, which is why the government is pushing to ban it.

[Abiky]

If the countries worldwide did not ban or cannot ban tree cutting to print fiat due the supposed climate change policy, I see no reason why bitcoin mining should be ban. Their argument about the effect of mining on the environment is just as the same as that of tree-cutting. However, I do believe that using solar and wind power would make bitcoin mining more environmentally beneficial. The issue is that many bitcoin miners are looking for locations with low electricity cost to mine the cryptocurrency, which is why the government is pushing to ban it.

It's all a matter of what's most convenient for the government. Bitcoin is decentralized, which means it's outside the scope of any government and/or central bank worldwide. You think governments will go easy on Bitcoin when it gives people true financial freedom? We should expect further scrutiny from such entities until they "destroy" Bitcoin for good. I know they won't succeed, but at least they will make an impact over its usage in the long run.

The mining ban is nothing compared to what's going to happen in the future the more popular Bitcoin becomes worldwide. I doubt Bitcoin will change to PoS, since that would mean sacrificing its decentralization and censorship-resistance. Who knows what will happen next? Just my thoughts

[dmamigo]

The mining ban can be prevented by the government itself in my opinion because if they go for renewable energy and promote it more, I believe it will make them energy and environment efficient to a certain extent. But obviously as many here said governments are kind of against Bitcoins or cryptocurrencies so they will for sure go against them as in miners and the industry. The environmentalists who are against Bitcoin can be tough for the industry and they can act as a catalyst as well for this controversial topic.

[Leviathan.007]

I don't believe this and I don't believe what the government says because a wise man will never ask the governments and political people if bitcoin mining is better than printing money or not, we all know that bitcoin mining can use renewable energy resources and this won't hurt the environment but this is not the problem. I think the problem is governments won't accept that bitcoin is better than printing money for the environment because they are worried about losing economic control in their countries, not environmental concerns.

[Abiky]

I don't believe this and I don't believe what the government says because a wise man will never ask the governments and political people if bitcoin mining is better than printing money or not, we all know that bitcoin mining can use renewable energy resources and this won't hurt the environment but this is not the problem. I think the problem is governments won't accept that bitcoin is better than printing money for the environment because they are worried about losing economic control in their countries, not environmental concerns.

Governments are only looking what's best for them. And I can say, Bitcoin is not something they want people to use at a large scale (even though they're able to tax it through centralized exchanges). That's why you see them spreading misinformation about Bitcoin's energy consumption, in order to drive away the masses from it. They will justify their actions by saying they're doing it to "protect the environment", but we all know that's not true. Bitcoin cannot be controlled by any government or third party, so we should expect greater opposition over time.

It really doesn't matter if all governments ban Bitcoin mining (which is very unlikely to happen anytime soon), since there will always be some people that will support the BTC blockchain no matter what. The pioneer cryptocurrency has remained decentralized up to this date, so I'm confident it will live for generations. Who knows if maybe someday governments give up and join the Bitcoin cause? Just my opinion

[Falconer]

Governments are only looking what's best for them. And I can say, Bitcoin is not something they want people to use at a large scale (even though they're able to tax it through centralized exchanges). That's why you see them spreading misinformation about Bitcoin's energy consumption, in order to drive away the masses from it. They will justify their actions by saying they're doing it to "protect the environment", but we all know that's not true. Bitcoin cannot be controlled by any government or third party, so we should expect greater opposition over time.

Makes sense, I think you're right. The government doesn't want bitcoin which is known as a decentralized currency. The government and the haters are just trying to brainwash the public so that they are not interested in bitcoin and mining, as a result it seems that they are not completely successful because people can find out about the advantages of bitcoin through many references.

I'd say the government would just keep spreading the theory around, but it's never really what they say it is. I don't hate governments, but they seem hard to accept something as uncontrollable as bitcoin.

[borovichok]

I don't believe this and I don't believe what the government says because a wise man will never ask the governments and political people if bitcoin mining is better than printing money or not, we all know that bitcoin mining can use renewable energy resources and this won't hurt the environment but this is not the problem. I think the problem is governments won't accept that bitcoin is better than printing money for the environment because they are worried about losing economic control in their countries, not environmental concerns.

Bitcoin doesn't have a single effect on environmental concern, rather it brings comprehend information to citizens and gives them golden opportunity which the government failed. Bitcoin have a very big impact on a country economy and will either affect the government in one way or the other. Government tends to blindfold the promising future of mining Bitcoin and impose strict regulations inother to stop the operation of Bitcoin. Government have the required capacity to stop what they they don't like and accept what they think it's good for their citizens.

[Reatim]

The mining ban can be prevented by the government itself in my opinion because if they go for renewable energy and promote it more, I believe it will make them energy and environment efficient to a certain extent. But obviously as many here said governments are kind of against Bitcoins or cryptocurrencies so they will for sure go against them as in miners and the industry. The environmentalists who are against Bitcoin can be tough for the industry and they can act as a catalyst as well for this controversial topic.

they are the government and they can do everything within their powers , mining can be regulated so nothing that can stop the government from banning those operation but they cannot hinder people from accumulating bitcoin that is for sure , so whatever the reason of banning yet this cannot stop the bitcoin from circulating in their countries.

[fennic]

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 are a lot of countries that ban Bitcoin and also crypto mining because there is High Power consumption for the Mining powers to run.
Iran is a country where Mining is legal and they are generating a lot of Bitcoin and they have huge plans in the future cause they know the real values of Bitcoin and so crypto. I wish that this might happen in my country cause still this is not authenticated by our government.
And also in America there is no van on the Bitcoin mining and they have also not given permission too. If someone wants to mine than do it and if do not than they will not be charged for guilty.

[Chato1977]

When a mining ban is imposed, does this mean BTC will go to 0?

Mining bans are enforced depending on the regulations of a country because some countries do not support the legalization of cryptocurrency, they will have any reason not to provide permits for mining, but mining continues without the influence of regulations. Even Shell will be involved in crypto to provide a solution to the high demand for energy required for mining and we hope that its efforts will provide positive support to crypto mining.

where can you see that Shell is acting towards the involvement in crypto?

remember that Oil company is always for sole purpose and that is to take advantage what they thing can mine them more money than Oil so never buy those big companies pretention .

[landheer]

Yes, of course it depends on the policy of the government. but if for example the government is worried about electricity. I think it will definitely be resolved. because of this? if for example bitcoin miners damage the environment? means that everyone in this world is also a destroyer of the environment, because all humans use electricity. and the ones that use the most electricity are not just bitcoin miners. of course there are still many people who use electricity with large usage. and also people who mine bitcoin also in my opinion don't harm anyone, because people who mine bitcoin also pay for electricity.

[Ayebabara]

Bitcoin mining can't be ban but the government can make a policy only to regulate the Mining process and the rate which bitcoin is mine in the country which they may think might affect the environment. And the only thing the government can do to stop bitcoin mining is to stop bringing light those mining industries, and they does that it will have bad effect on the Mining process, because the company might not have the capability or the capacity to use fuel for the 24/7 hours. And government takes tax from mining companies so t will be very difficult for them to ban bitcoin mining. And if peradventure government ban mining bin the public domain then micro mining will take place. That means mining continues

[Lida93]

[quote author=Abiky link=topic=5401795.msg60314505#msg60314505 date=1654687509

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.
[/quote]
There's nothing or any concept that have attained a worldwide complete acceptance in human history, for instance, despite how much democracy is prescribed as the Best form of governmental system for both the rulers and ruled, yet there are countries that still jettison the concept. So what am I say; bitcoin shouldn't be expected to receive a worldwide acceptance in as much as a few country's accepts it and allows it operations to persist then there's no cause for alarm but to work with the btc pro country's , let's just bear in mind that those countries that are against bitcoin will always look for ways to see to it's end.  For isn't it ironical and laughable that countries that secretly permits certain  biochemical activities that are inimical to the environment are also pushing for a ban on bitcoin mining.
Bitcoin mining switching from POW to PoS cryptocurrency will greatly threaten it's survival which may gradually lead to extinction of the value of the BTC and that's what these government's wants.

[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.

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.

Doesn't sound any different from banning mining...

Also taxing energy will affect everyone and not just miners.

Exactly. But what would be a reasonable justification for only penalizing miners _if_ energy consumption is the concern?

If we want to do something about disproportionate energy consumption, it doesn't seem sane to just approach those industries that are transparent about it (and what would be more transparent than PoW mining where the consumption can be calculated from hashing rate and hardware efficiency). Putting measures right on the energy consumption would also hit those who use insane amounts of energy while being silent about it.