New York Passes Bill to Curb Bitcoin Mining


The FPS Review
Staff member
May 6, 2019
New York lawmakers have passed a bill (A7389C) that would temporarily ban certain bitcoin mining operations within the state.

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Wake me up when there is a permanent Federal ban on all cryptocurrency mining (or every single state decides to ban it).
Doesn’t affect homebrew miners, just large scale ones
I'd support making this nation wide, and making mining, buying, selling or holding of any crypto-asset illegal, without exception.

With our marginal power grids, we have much more important things to do with the capacity than to piss it away on pyramid schemes.
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They always fearmonger about the dangers of AI, Even Stephen Hawking got on the bandwagon at some point. But blockchain technology is a much bigger danger. Because it uses our own greed against us.

If an alien would observe us now, they'd say: Look they are totally crazy, they are depleting and using up finite natural resources to create a digital daisy chain that has no practical value or use.
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Well homebrew miners who don't have 2 rooms stuffed full of mining rigs won't shut down the grid.
Don't get me wrong, I still think what they do is contemptible and immoral, but they aren't using industrial scale electricity,
It really is a bill targeted at a single user:

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