Bitcoin mining ban in Europe

[Blawpaw]

This is still a proposal, and is still not in effect. Nevertheless, if this foes ahead, of course that it will have its implications, but as long as miners can find renewable energies, they will be alloewd to mine. so it is very important to understand how this ban will be applied. On the other hand, this will also give a bigger incentive for miners to try and find new renewable energy alternatives.

The problem of alternative renewable energy currently has no solution, most miners still depend on electricity which is so expensive. Indications of the involvement of the government and miners are likely to be pros and cons that will not be resolved, considering that bitcoin is often used as a scapegoat for problems that befall a country in financial terms. That's why bitcoin bans in several countries will continue to appear because there is no solution to this problem and this is very detrimental for some miners.

Thing is, Big energy companies are starting to show interest in the Bitcoin mining industry. Recently, Shell stated the company was developing green energy solutions for Bitcoin mining. They are also supporting various projects in the Web3 space, so they are going full speed ahead with this. This surely means that others will follow, and soon we will have a lot of pressure from these multinational companies to governments that are not friendly to bitcoin mining.

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[Desmong]

https://www.coindesk.com/policy/2022/10/18/eu-countries-must-be-ready-to-block-crypto-mining-commission-says/
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"

Can this affect the price of bitcoin or is this another anti-mining statement?

This is clearly not fair for bitcoin miners and it is definitely another anti mining statement. To purchase a complete mining rig and mine bitcoin there is stressful and may not be profitable when considering the ever increasing bitcoin difficulty and energy rate. There have to be a form of balance. This is just not it. Let's Say no to anti mining policy!

This is a bad news for me and I don't really know why this had to come up. The government needs to take a look on this because this might affects the price of Bitcoin if not now it could be later. The government need to consider this so that it will not have serious effect on the miners which will affect the difficulties of mining Bitcoin.

[Casdinyard]

https://www.coindesk.com/policy/2022/10/18/eu-countries-must-be-ready-to-block-crypto-mining-commission-says/
EU Countries Must Be Ready to Block Crypto Mining, Commission Says
"The European Union's executive arm also wants blockchains to show energy-efficiency labels and to end crypto tax breaks.
Europe represents 10% of global proof-of-work mining"

Can this affect the price of bitcoin or is this another anti-mining statement?

The statistic itself is enough proof that Europe is at its wits end in handling mining, which at its current state is not only inefficient given the fact that it takes a lot of processing power to mine coins nowadays, but also the fact that in-home miners still use their grid's electricity thus contributing to the fossil fuel emission which in turn causes climate change. Europe being one of the main drivers of movements to combat climate change, this is to be expected. What miners should do now within the European soil is to probably appeal to the use of sustainable energy sources as replacement for the use of regular electricity to power their mining rigs, like what some cryptocurrency miners have done in the past up to now. It would cost them a lot, but that is worth the trouble.

[lixer]

Thing is, Big energy companies are starting to show interest in the Bitcoin mining industry. Recently, Shell stated the company was developing green energy solutions for Bitcoin mining. They are also supporting various projects in the Web3 space, so they are going full speed ahead with this. This surely means that others will follow, and soon we will have a lot of pressure from these multinational companies to governments that are not friendly to bitcoin mining.

I think this isn't the first time that a big company shows interest in mining. I know there are some big companies on the past who got involved in it but shell can be the latest one and it can be the first one who will be using green energy which is great.

I think they came out during the time where btc mining have been banned due to energy concerns. It's like they are showing that it is possible to mine btc without depending on the main energy and still be friendly to the environment but it's great if they also show interest in web3. I didn't knew that or heard that they include in their proposals but this doesn't mean that other big companies are going to follow. Not all of them have the same mindset.

[Valeriary]

He will definitely affect the price of Bitcoin in a short period of time. But in the long run, it has little effect on Bitcoin. Prohibiting Bitcoin mining does not mean prohibiting Bitcoin, it is still possible to use Bitcoin normally. Bitcoin mining does consume a lot of power, and the computer will keep running, and the power in many places will not be able to support normal use. Now that the temperature is getting colder, everyone's electricity consumption will gradually increase. Still need to develop more hydropower and wind power.

[Abiky]

Thing is, Big energy companies are starting to show interest in the Bitcoin mining industry. Recently, Shell stated the company was developing green energy solutions for Bitcoin mining. They are also supporting various projects in the Web3 space, so they are going full speed ahead with this. This surely means that others will follow, and soon we will have a lot of pressure from these multinational companies to governments that are not friendly to bitcoin mining.

If only Bitcoin miners go "green", the EU would consider lifting its PoW mining ban. We need as much support from governments as possible for Bitcoin to reach the mainstream. At least, there's interest from major energy companies into making Bitcoin mining greener. With a lot of money involved in the mining industry, I don't think PoW will be going anywhere soon. I hope the US doesn't do the same thing as the EU, especially with its "climate change" agenda. Otherwise, pressure into making Bitcoin a PoS coin will increase. It'll be up to miners to take the step forward by using alternative energy sources that are carbon-neutral. Let's see what will happen in a few years from now when the global economy goes back to normal. Just my opinion

[DU18]

I think they came out during the time where btc mining have been banned due to energy concerns. It's like they are showing that it is possible to mine btc without depending on the main energy and still be friendly to the environment but it's great if they also show interest in web3. I didn't knew that or heard that they include in their proposals but this doesn't mean that other big companies are going to follow. Not all of them have the same mindset.

I am amazed that Shell provides mining solutions using environmentally friendly green energy, but if the mining development proposal using green energy is successful then other big companies will consider implementing methods of utilizing environmentally friendly energy for mining. I've been scrolling through some news about Shell Company regarding Bitcoin mining solution and they are serious about developing it and hopefully next year we will have some good news for miners.

[Truyet Lan]

The ban was implemented through media hype, which would affect the price of Bitcoin. If their country consumes too much electricity and cannot support the electricity in winter, they may give up Bitcoin mining. Not only EU countries. Other countries will gradually ban bitcoin mining. Because they think the energy consumed by mining is wasted.