Sollte Bitcoin Mining in Europa und USA aufgrund der Energiekrise verboten werden?

Bitcoin braucht viel Strom. Warum nicht Bitcoin verbieten? Nur für zwei Jahre bis das Problem gelöst ist.

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MrRayman
2 years ago

Well, whoever puts a miner in the yard can heat up with him in winter. In principle, this is a loud and expensive heating fan.

You can’t forbid everything you don’t find well. Many car trips are unnecessary and the energy saving potential is not used here. Above all, how should this work, it must also be enforced. We monitor all Internet communication in advance? Then someone comes home and plugs the miner? Such an intervention in the private space for so little profit is not justified.

TapRoot2021
2 years ago

Should Bitcoin Mining be banned in Europe and USA due to the energy crisis?

No, because it does not solve the problem (and should not be allowed to happen in a free democracy). On the contrary, it would be even worse because at least in the USA, BTC Miner is now used as a tool for network stabilization. Especially since there is no mining in the EU because the electricity here is much too expensive.

The mines also have to be able to obtain profitable electricity. If the prices reach the mines, they turn off from themselves or are eventually broke. So you wouldn’t achieve anything except that more freedom is abolished and the state prescribes to its citizens what they can do with their own paid electricity.
In addition, the network protects itself and leads, if necessary. Load discards if it should be critical. Then there would Miner be gone again why bans? It’s just populist actionism that doesn’t use anything.

I wouldn’t want to live in such a country. Especially since you can’t prevent BTC mining so easily. Look at China. There is still 20% of the mining and although the electricity prices are rising and the BTC price has fallen, we recently had an ETH in the hash rate.

Everywhere is called to save electricity but a single bitcoin transactions needs as much electricity as a household in 1.5 months

This is wrong because you can’t count the energy consumption of Bitcoin on the transaction. The power consumption serves to protect the network or secures the value. Even if no transactions were carried out, the power consumption of Bitcoin would not change.

Bitcoin needs a lot of electricity.

Bitcoin needs less power than the gaming trance, Christmas lighting or the standby devices devices in the USA. Are you going to ban all this? And if not why can a gamer use his computer and not use a miner?

Anonymous874
2 years ago

You can’t forbid anyone. For Bitcoin Mining makes a large part of the income. They’ll keep going. And if a VPN would be necessary because of a ban. Then it might need more electricity.

TapRoot2021
2 years ago
Reply to  Eisbaer17777

Yes but China has also gone through

China has done this mainly because it has no interest in a free and non-censable network. There were cases where people have exchanged messages about the network, and of course China is not interested in not being able to censor them.
Especially since 20% of the mining is still present in China. You can’t completely forbid it.

Now alone is called to save electricity everywhere but a single transaction needs as much electricity as a household in 1.5 months

This is wrong, see my answer.

Anonymous874
2 years ago
Reply to  Eisbaer17777

But that may not compare us with China. China is a human rights violation country and observes people. It doesn’t work here in Germany.

Apoka392
2 years ago

Bitcoin needs a lot of electricity.

Mines need a lot of electricity. Keeping Bitcoin or sending BTC does not increase the power consumption.

but a single bitcoin transactions needs as much electricity as a household in 1.5 months

Therefore, such statements are simply wrong.

Why not ban Bitcoin?

Because that’s not possible. Bzw you can explain it for illegal, but also not. I can remember my bitcoin via a seedphrase, for example, via a sentence, or 12 words and thus have access to all my BTC. Do you want to forbid me to remember 12 words?

If at all it is possible to forbid the mine, and this is also difficult to find out just how China could. Even in a totalitarian surveillance state, there are still considerable parts of the hashrate and that despite bans.

Even if you declare BTC illegal, you will be able to observe the emigration of tech geeks and computer scientists. This also applies to the issue of tax. So if you want to miss the last rest of the German digital economy a head shot, then you ban Bitcoin.

Should Bitcoin Mining in Europe and USA

The US has no energy crisis. They only suffer from the high world market prices. They aren’t as stupid as we Germans who just get out of coal, gas and atom at the same time. If they want to ban the export of fossil fuels.

In Europe, bitcoin is hardly mined. If these are any hobby facilities or they are located in regions where the electricity price is damn low. There are few regions in Europe.

The vast majority of mining farms in the United States are 100% renewable. Mining hardware will be switched on or off depending on the bitcoin price and current electricity price. This means that in the United States, the overproduced electricity produced by renewable energy is used. This has enabled renewable energies to be competitive, because in Texas, where most BTC mining takes place, the state does not support renewable energies. They do not have the luxury like European colleagues and can easily compensate for their losses by subsidies, but they had to find innovative ways to harvest wind and sun economically.

This now goes to such an extent that the methane of oil drilling towers, which is too often unusable, is not simply torched, but is generated by a turbine of current, which then secures the BTC network in mining devices.

MonkeyKing
2 years ago

You don’t have to forbid it, because it’s going to be done by itself. Bicoin Mining is not primarily made in Europe or the USA, but electricity prices are too high, and right now.

LUKEars
2 years ago
Reply to  MonkeyKing

gmta

MonkeyKing
2 years ago
Reply to  Eisbaer17777

Bitcoin is mined mainly in China, USA plays only a minor role, Europe is not at all. There may be some areas in the USA where electricity is particularly favorable – but they do not have an energy crisis.

TapRoot2021
2 years ago
Reply to  MonkeyKing

In the USA, even the majority of about 35% of BTC mining is [1]. How do you think that this is not primarily found in the USA? China was once number one, but that’s already over. It is not worth mentioning but at least 3% in Germany. Don’t think it’ll be done in the long term.
[1] https://ccaf.io/cbeci/mining_map

Nonameguzzi
2 years ago

All Cypro courses are now right down, the energy prices are high.

If at all, Crypto Mining is currently only worthwhile on existing systems in absolute low-cost countries.

This country and in the United States is certainly not currently at mine. Revenue does not cover current costs.

Anonymous874
2 years ago
Reply to  Nonameguzzi

If you have a solar system on the roof, it’ll work.

Nonameguzzi
2 years ago
Reply to  Anonymous874

That’s okay then no electricity is taken from the power grid to all be afraid. But whether the money is enough to refinance the solar system?

TapRoot2021
2 years ago
Reply to  Nonameguzzi

This country and in the United States is certainly not currently at mine.

In the USA, even the majority of about 35% of the BTC mining [1] and the BTC hashrate recently had its ATH [2]. I think that Mining is in any case there.

Revenue does not cover current costs.

Doesn’t seem like that. The mines need to use as much as possible overproduced electricity, which they receive most from the EE operators. Must be that, otherwise the hashrates would fall for weeks.

[1] https://ccaf.io/cbeci/mining_map

[2] https://www.blockchain.com/charts/hash-rate

Anonymous874
2 years ago

Some people already have one anyway, and that’s why it’s profitable. But no, I think with bitcoin alone you can’t finance a solar system.

HugoHustensaft
2 years ago

Bitcoin and other “currencies” of this kind are not needed anyway, this is pure energy waste from the beginning – but you can’t ban everything that is pointless…

MonkeyKing
2 years ago
Reply to  Eisbaer17777

It is not reduced in Europe anyway

Anonymous874
2 years ago

Yeah, because it’s not worth it here… Apart from one has glass fiber internet and ne ordinary solar system.

odine
2 years ago

Regardless of the sense or nonsense of digital currencies.

In the USA, the electricity costs 16 ct./kwh for the end customer.

The production price of 1 kwh costs approx. 3 cent, the problem is not an energy crisis itself, but a politically and ideologically motivated energy disaster.

odine
2 years ago
Reply to  Eisbaer17777

Electricity price: 32% taxes and charges.
Fuel oil price: approx. 22% taxes
Gas price: approx. 22% taxes and charges
Petrol: approx. 40% taxes and charges
Diesel: approx. 40% taxes and charges

The high prices are under the cover coats of environmental protection, now you can put it in your shoes.

Anonymous874
2 years ago
Reply to  Eisbaer17777

It is not because the electricity in production is too expensive, but that the politics and the money-consuming lobby are pushing prices up without a clear reason. They just pull the reasons out of their fingers. And if the crisis is over, the price is not going down.

StRiW
2 years ago

First, you could simply limit the online zooming, streaming movies.

The energy crisis is not that big. Only nobody wants to give up his advantage.

TapRoot2021
2 years ago
Reply to  Eisbaer17777

But streaming movies and playing computer games serves for entertainment.

And who decides what “senseful” power consumption is? Why does it make sense to use electricity for a gaming PC? Electricity is electricity for which money has been paid and you have the right to do what you want.

Bitcoin Mining is superfluous to the one who earns the whole coal

Work with something before you judge, because you obviously didn’t understand what bitcoin is and why it was created.
Gaming is also superfluous, except for the one who makes it. And it’s all like that. Benefits and value are subjective.

If you want a state that imposes its own will on its citizens, you should emigrate to China.

StRiW
2 years ago
Reply to  Eisbaer17777

Streaming movies and games of computer games

In time, you could volunteer.

Anonymous874
2 years ago

If such a law comes, anarchy prevails in Germany.

StRiW
2 years ago

Everything is right, but you can save it. Leaving a book from the library, relax.

Similarly, it would be a lot to do if there is only Internet access allowed for each house, so all of them have to use a WLan.

LUKEars
2 years ago

This is all by itself… Bitcoin Mining has not been worth it in Europe for years…

LUKEars
2 years ago
Reply to  Eisbaer17777

you would have to on Iceland, which certainly does not go fast… probably not at all…

LUKEars
2 years ago

Yes, but: in the EU it is already banished by the electricity price… why should someone pay two euros for electricity to earn a euro for bitcoin mining? The fine would be 1€… do you understand? or am I standing on the hose?