Friday, April 22, 2022
HomeBitcoinHash Fee Politicization Is An Assault On Bitcoin Miners

Hash Fee Politicization Is An Assault On Bitcoin Miners



The beneath is a direct excerpt of Marty’s Bent Difficulty #1195: “The politicization of hashrate is an assault vector on your miners. Join the publication right here.

The U.S. Treasury got here out right now and sanctioned Bitriver, a Russian bitcoin mining firm that hosts miners on behalf of enormous miners. Any Individuals who’ve their miners hosted at Bitriver or personal any important quantity of fairness within the firm should cease interacting with Bitriver instantly, highlighting the danger one takes after they do not management their infrastructure and host their miners in areas which might be topic to elevated political threat. Political threat is available in many alternative types.

Right here in the US, it’s politically dangerous to host your miners within the state of New York as it’s run by freedom-hating Malthusians who’re useless set on stopping Bitcoin from flourishing inside its borders. It was confirmed to be politically dangerous to mine in Quebec within the mid-2010s as the federal government there freaked out and commenced treating bitcoin miners who had been using extra electrical energy produced by Hydro Quebec like second-class residents by singling them out and rising their electrical energy charges and gross sales tax. Making their operations unprofitable and, subsequently, nonviable. And now, we’re studying that it’s politically dangerous to host your miner inside Russia if you’re a U.S. citizen as a result of the federal government appears decided to sever Russia’s connection to the western world in response to the invasion of Ukraine.

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