Fabio Manganiello on Nostr: If you use as much energy as a whole neighborhood to find out which number multiplied ...
If you use as much energy as a whole neighborhood to find out which number multiplied by X results in a number Y with at least N leading zeros, then you have to pay dear for your energy consumption.
You're literally stealing energy away, while keeping alive a ridiculously inefficient financial circuit that can only process a few dozens of transactions per minute.
I hope that a 30% tax on mining will be the last nail in the coffin for that absurd idea called proof-of-work - and IMHO the proposed tax rate could/should be even higher.
If miners show resistance at every attempt of reforming their coins to be more environmentally sustainable, then hitting them where it hurts the most (on their wallets) is probably the best solution.
All the computing power wasted in mining can (and should) be repurposed for things that benefit everyone.
https://www.theregister.com/2023/05/04/us_crypto_electricity_bill_tax/
You're literally stealing energy away, while keeping alive a ridiculously inefficient financial circuit that can only process a few dozens of transactions per minute.
I hope that a 30% tax on mining will be the last nail in the coffin for that absurd idea called proof-of-work - and IMHO the proposed tax rate could/should be even higher.
If miners show resistance at every attempt of reforming their coins to be more environmentally sustainable, then hitting them where it hurts the most (on their wallets) is probably the best solution.
All the computing power wasted in mining can (and should) be repurposed for things that benefit everyone.
https://www.theregister.com/2023/05/04/us_crypto_electricity_bill_tax/