Bitcoin-Banning Measure in Monday’s EU Parliament Vote?
Proof-of-work is greater than proof-of-stake and cannot be controlled – and these fools know that and this is NOT about energy, in my opinion. No idea how this is going to go but the EU is really shooting themselves in the foot with this – once again
Bitcoin-Banning Measure Seen Too Close to Call in Monday’s EU Parliament Vote
“CoinDesk reported yesterday that the provision in question requires all crypto assets to be subject to the EU’s ‘minimum environmental sustainability standards with respect to their consensus mechanism used for validating transactions, before being issued, offered or admitted to trading in the Union.’
For cryptocurrencies like bitcoin and ether, that are already being traded in the EU, the rule proposes a phase-out plan to shift their consensus mechanism from proof-of-work to other methods that use less energy, like proof-of-stake.
Although there are plans to move ethereum to a proof-of-stake consensus mechanism, it’s unclear whether the same option is available for bitcoin.”