Cryptocurrency

Out of context: Reply #420

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  • drgs0

    https://www.btc-echo.de/news/bit…
    https://www-btc--echo-de.transla…

    In its MiCA guidelines, the European Parliament wants to ban the provision of crypto services based on “environmentally unsustainable consensus mechanisms”. This emerges from a final compromise proposal by the responsible Committee for Economic and Monetary Affairs (ECON), which is available to BTC-ECHO. De facto, this could mean the end for proof-of-work based cryptocurrencies like Bitcoin from January 1, 2025 in the European Union. A final decision on the draft is to be made in parliament on February 28.

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    • about timekingsteven
    • Not going to happenshapesalad
    • It's only ban on proof of work mining, not usage of Bitcoin. They can't ban mining in countries outside of EU (not much mining in EU anyway)drgs
    • But it adds to the existing anti-crypto trend which is not gooddrgs
    • i remember energy web had a solution where PoW transactions can be accompanied by a carbon cert on their network, you can then build exchanges thatkingsteven
    • only trade carbon free btc. (it wouldn't matter where it was mined, they have already have agreements with energy companies globally)kingsteven
    • I assume existing BTC (19 mill) are all without carbon cert? There is only 2 mill left to mine.drgs
    • mining is also the process for confirming transactions, it will continue once all BTC is brought in to circulation. there would need to be a fork in BTC orkingsteven
    • exchanges would need to support an additional blockchain to monitor power usage and issue energy attribute certificates based on an additionalkingsteven
    • appliance... i watched an interview with energy web's CEO back when the mining consortium was founded where some solutions were hinted atkingsteven
    • it's obviously much easier with PoS but energy web did a similar thing with XRP shortly after.kingsteven
    • sorry i meant 'crypto climate accord' not 'mining consortium' that BS musk was involved in for a minutekingsteven
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