The Biden administration wants to impose a 30% tax on electricity used for crypto mining

[Karl Hungus]

By this logic there should be a 60% tax on electricity for electric cars as they will surpass refrigeration on that usage chart once gas cars are replaced.

Uh, cars have utility. They aren't a useless like crypto.

 

[Karl Hungus]

The democrat answer for everything....

Whereas the Republican answer would be to take bribes from Crypto companies so they can park any and all benefits in offshore accounts 😂🙄

 

[Karl Hungus]

What a pathetic, thoughtless response.

Electric cars are used for transportation

Your beloved crypto is a money laundering tool and a ponzi scheme generator used by scammers. Maybe even you can see difference?

Amazing how EV triggers some people!!

In my experience, it generally triggers old people and/or oil execs and their bots...

 

[hwertz]

A) How are they going to enforce it? People plug in devices and pay a power bill. There's nowhere on the bill to say "Hey, I'm using this for crypto."

B) Is there even any significant crypto mining going on? I thought the "proof of work" crypto mining had largely dropped off, replaced by "proof of stake" (I.e. thrashing data on and off a hard disk) and that block chain NFT stuff.

C) I also thought the "proof of work" cryptomining had all moved to China years ago, that the electricity price in the US exceeded the expected profits of mining a new bitcoin or whatever.

Ahh well.. if they want to try to tax it, go ahead, I just don't expect them to get any actual tax income from it.

 

[bviktor]

By this logic there should be a 60% tax on electricity for electric cars as they will surpass refrigeration on that usage chart once gas cars are replaced.

Except a car is actually useful.

 

[Ben Myers]

Is 30% enough?

 

[captaincranky]

What I think is, that Biden, in coordination with the EPA should do, is forego the tax angle, and send out the EPA out to condemn these rejuvenated coal fired plants being used for mining, thereby shutting them down.

Too harsh you say? Then force them to install stack scrubbers along with other means of reducing their emissions.

Make them "pay the piper", IMO it's about time.

After all, most of you are whimpering about how these commercial operations are making it unprofitable to mine at home.

Taxing at home mining operations would be damn near impossible, requiring absolute data gathering coming out of every computer in the world. And seriously, I don't think that "Big Brother" has the resources for that. (At least not yet).

And BTW, for those of you whining about the current administration, Biden's "ACP"* program in conjunction with "Verizon Forward", has netted me 300 Mbs FIOS absolutely free of charge.

So, do any of you miss Ajit Pai in charge of the FCC? I certainly don't?

Hm, maybe I should start mining. After all, y'all will be paying the bill for it.

* Affordable Connectivity Program.