.jchervinsky explains the hypocrisy of an upcoming crypto mining ban in New York Bitcoin $BTC mining
Mr. Chervinsky accused the authors and lobbyists of a Bitcoin ban in New York State of"feel-good performative politics" dangerious for both the environmental and economic sustainability of the U.S.Mr. Chervinsky has taken to Twitter to slam another attempt to ban Bitcoin mining in New York State due to environmental concerns.
1/ As the anti-bitcoin wing of the NY political establishment takes a victory lap over the passage of its mining ban, remember:All it does is push miners to build in other places where NY has no influence over them.According to him, New York legislators will just trigger the migration of Bitcoin miners to other jurisdictions, which is obviously the last thing that would help in reducing the carbon footprint.
In these jurisdictions, Mr. Chervinsky adds, proof-of-work miners will evade environmental regulations, or at least some of them. As such,"a small contingent of NY environmentalists" will be the only to benefit from the implementation of this ban.Good policy requires reality-based thinking: honest analysis of costs & benefits, of opportunities & risks, of first- & second-order effects. The NY mining ban does none of that.
Also, the implementation of this draconian ban will most likely put an end to the prospects of New York leadership in new technology adoption.As such, the New York State is on the verge of"a devastating policy error"; Governor Kathy Hochul should veto the ban to support not only Web3 industry but the entire economy of the state.
As covered by U.Today previously, Bitcoin mining and other proof-of-work operations might be banned in New York in June; the bill is approved by the state legislature and passed to the governor.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
‘Nothing ever changes…except in New York’ – Hochul signs new gun lawsBreakingNews: We're saying here in New York, we will lead, but the rest of the states, shame on you if you don't.' Gov. Kathy Hochul signs legislation to strengthen NewYork's gunlaws -
Weiterlesen »
New York gets closer to cracking down on Amazon’s warehouse production quotasLawmakers passed the Warehouse Worker Protection Act.
Weiterlesen »
New York City Hotel Pool Passes Are This Summer’s Hottest TicketWhether you’re sneaking in or paying a fee, a luxury alternative to the beach is a coveted hot weather asset. So, how do you get poolside at a smart hotel or private members’ club?
Weiterlesen »
Policy Tracker: Where New York Fashion-Related Bills Stand When It Comes to VotesAs New York State’s legislative sessions wrapped up this week, some fashion-adjacent bills were stalled despite best efforts.
Weiterlesen »