Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: What happens to PoW if governments subsidize mining?  (Read 269 times)

0 Members and 1 Guest are viewing this topic.

Offline luckybit

What happens to PoW if governments subsidize mining?
« on: April 08, 2015, 12:23:00 AM »

Suppose China, the USA, and other governments were to pass laws for mining subsidies similar to what we have with food subsidies? Would that be an attack on PoW?
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Ander

  • Hero Member
  • *****
  • Posts: 3507
    • View Profile
  • BTS: Ander
Re: What happens to PoW if governments subsidize mining?
« Reply #1 on: April 08, 2015, 12:38:16 AM »
Why would they do that, it makes no sense.  All it would do is burn more energy.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline luckybit

https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline yellowecho

Re: What happens to PoW if governments subsidize mining?
« Reply #3 on: April 08, 2015, 01:29:47 AM »
Why would they do that, it makes no sense.  All it would do is burn more energy.

https://www.quora.com/Why-does-China-seem-to-have-the-majority-of-volume-trading-of-Bitcoin-and-what-might-this-suggest-about-its-use-as-a-virtual-currency

Nothing 'happens' to PoW if governments subsidize energy usage.. it just means the costs associated with mining are reduced.
696c6f766562726f776e696573

Offline luckybit

Re: What happens to PoW if governments subsidize mining?
« Reply #4 on: April 08, 2015, 02:42:17 AM »
Why would they do that, it makes no sense.  All it would do is burn more energy.

https://www.quora.com/Why-does-China-seem-to-have-the-majority-of-volume-trading-of-Bitcoin-and-what-might-this-suggest-about-its-use-as-a-virtual-currency

Nothing 'happens' to PoW if governments subsidize energy usage.. it just means the costs associated with mining are reduced.

Right but what if all mining is done in a certain territory because of this? Doesn't this cause geographical centralization of mining?
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline yellowecho

Re: What happens to PoW if governments subsidize mining?
« Reply #5 on: April 08, 2015, 02:58:57 AM »
Right but what if all mining is done in a certain territory because of this? Doesn't this cause geographical centralization of mining?

Yes, it could cause geographical centralization of mining.  That could create short term issues in price and security if that government cracked down on it but long term I don't see it being an issue as other countries would have an interest in keeping the network running and difficulty would be adjusted.
696c6f766562726f776e696573

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2331
    • View Profile
Re: What happens to PoW if governments subsidize mining?
« Reply #6 on: April 08, 2015, 03:04:28 AM »
You must have smoked some weed, man. This has about as much chance of happening as an asteroid impact.

Offline btswildpig

  • Hero Member
  • *****
  • Posts: 1424
    • View Profile
Re: What happens to PoW if governments subsidize mining?
« Reply #7 on: April 08, 2015, 03:27:00 AM »
The governments better subsidize more medical bills before subsidizing miner ....
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline BTSdac

Re: What happens to PoW if governments subsidize mining?
« Reply #8 on: April 08, 2015, 03:33:03 AM »
Suppose China, the USA, and other governments were to pass laws for mining subsidies similar to what we have with food subsidies? Would that be an attack on PoW?
if the governments think we have much much energy,  if governments think the air with PM2.5 500 in Beijing is clear
I think they would do   
« Last Edit: April 08, 2015, 04:02:46 AM by BTSdac »
github.com :pureland
BTS2.0 API :ws://139.196.37.179:8091
BTS2.0 API 数据源ws://139.196.37.179:8091

 

Google+