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May 07 2021

New York State May Suppress Bitcoin Mining

The Biden Administration has been doing everything possible to create hyperinflation, intensifying interest in alternatives to potentially worthless fiat currency. Big Government’s predictable reaction — crackdown — has already begun. The pretext: BitCoin is offensive to the climate.

Via Gizmodo:

A new bill that hit the New York state senate on Monday is aiming to put a multi-year pause on crypto mining operations across the state until authorities can fully suss out what that mining is doing to the climate and local environment. …

Bitcoin mining has come under increasing scrutiny for the staggering carbon footprint tied to electricity use to keep operations running 24/7.

The bill would impose a 3-year moratorium on Bitcoin mining in New York state.

During that period, officials would try to measure the greenhouse gas emissions tied to mining as well as the impacts on local wildlife, water, and air quality.

If virtual mining for Bitcoin is suspected of all that environmental havoc, think what physical mining for gold and silver must do. Big Government might need to impose more moratoriums.

On a tip from Steve T.


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One Response to “New York State May Suppress Bitcoin Mining”

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