RE: EU Vote on Bitcoin Mining – What Does it Mean for the Industry?
It seems Proof-of-Work mining won’t be “banned” this year by the EU but it does seem the EU (for nefarious reasons) does have a hard-on to usher-in PoS. The EU is going to find themselves (once again) on the wrong side of history if they continue down this path
EU vote on Bitcoin mining: What does it mean for the industry?
“Proof-of-work (PoW) crypto mining won’t be banned in the European Union — not this year at least. That’s the conclusion from last week’s closely watched committee vote in the European Parliament (EP).
A last-minute amendment presented by an ad hoc coalition of social democrats and Greens would have established a de facto ban on proof-of-work mining — the type of consensus mechanisms used by native cryptocurrencies like Bitcoin (BTC) and Ether (ETH) — has been decisively rejected. The crypto community can breathe easily, but some still worry that the industry’s problem with its energy-intensive consensus protocols remains.”
https://cointelegraph.com/news/eu-vote-on-bitcoin-mining-what-does-it-mean-for-the-industry
And those shilling for proof of stake are not on our side.
Michael Saylor: “The only settled method to create digital property is via Proof-of-Work. Non-energy based crypto approaches like Proof-of-Stake must be deemed to be securities until proven otherwise. Banning digital property would be a trillion dollar mistake.”
