Academicians call for intervention: Bitcoin Mining threatens the existence of mankind

[Mazda3]

Academician of Qatar University argues that the ever increasing amount of electricity consumed by mining, threatens to reverse all the efforts and achievements of mankind in reducing greenhouse gas emissions.
According to Dr. John Truby, director of the Center for Law and Development at Qatar University, Bitcoin was developed without any assumptions regarding its environmental impact and as such "threatens our existence." Truby called for solutions aimed at preventing the emergence of such blocking technologies.

"The problem will only worsen. The higher the Bitcoin price, the more incentive for my work, because New digital currencies will be developed using similar technologies. However, since the blockage can bring significant benefits, it will remain, but future similar technologies should not depend on energy consumption, the costs of which are so disproportionate to their economic and social benefits. "
His assumptions aimed at moving to less energy-intensive block-technology, Truby put forward in an article titled "Bitcoin's Decarbonization: The Law and the Choice of Policies for Reducing the Energy Consumption of Blocking and Digital Currency". As can be judged by the name, the councils include government interference.

For example, Trubi calls for the introduction of rules that prevent developers from creating blockhouses that exceed a certain level of carbon emissions per gigache. In addition to using rules to encourage the development of less energy-intensive blockhouses, Truby also suggests using alternative financial instruments, including scientific research funds, government grants or creating a business-friendly safe space for developers of environmentally friendly detachments.

In addition, the academician advocates the introduction of a policy aimed at limiting the types of devices used for the mining of crypto-currencies. For example, the value-added tax, which will be levied on the least effective mining equipment.

Nevertheless, the academician of Qatar University noted that such an initiative, if it is not evenly distributed around the world, is almost impossible task. Mining simply moves from hostile jurisdictions to friendly ones.

Truby also notes in his article that the market has the ability to correct the situation, allowing electricity prices to shape the behavior of the mining sector.

A source:https://www.ccn.com/bitcoin-mining-threatens-our-existence-academic-says-calls-for-intervention/

[Kate]

Well I can't call them anything since its true I would honestly tell all this profit mining people to mine more profitable coins