The political case for a blanket cryptocurrency ban
This article seems to intentionally ignore the core reason for cryptocurrencies; escaping inflation and control. The article then proposes to use the law to bring those people back within the control of fiat and government oversight.I no longer think the environmental argument is really plausible here. Clearly crypto mining is emitting using a lot of power and some of that is CO2. But the competition is fiat; backed by fighter jets and nukes; literally. How is it that someone can't steal your money? The bank makes sure. How is it the bank can be sure? The cops protect them. How is it the cops aren't overwhelmed? The military protects them. Law and order stands on the backs of a lot of stuff and CO2. Bitcoin is an example of one little piece of this not needing all that stuff. Instead it's protected by this mining fleet. And if you want to contest ownership there's no one to invade, no one to attack; the best you can do is make a fleet and try to mine. It's a small step in the direction of getting away from all these endless wars and control. A little step away from needing to point guns at eachother to protect our pile of stuff. And this author is saying "point guns at them and make them give it up". That's crazy. Just leave them alone.(If you need to point guns to save the environment, do that specifically. Carbon tax CO2)