Author Topic: What happens to PoW if governments subsidize mining?  (Read 1880 times)

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Offline BTSdac

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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 »
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Offline btswildpig

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The governments better subsidize more medical bills before subsidizing miner ....
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Offline donkeypong

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You must have smoked some weed, man. This has about as much chance of happening as an asteroid impact.

Offline yellowecho

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.
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Offline luckybit

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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?
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Offline yellowecho

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.
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Offline Ander

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Why would they do that, it makes no sense.  All it would do is burn more energy.
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Offline luckybit

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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?
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