Why Banning Bitcoin Mining Is Nonsense
What if I own a Bitcoin ASIC miner, and then with my own money purchase my own solar panel, which is placed on my own private property (e.g. my back yard), and then mine Bitcoin using only the electrical energy converted from that solar panel (e.g. the ASIC miner is completely disconnected from the grid, and only runs when the solar panel is sufficiently energised on the panel I own). I own the panel, I therefore own the energy that comes from it, I therefore can choose to spend that energy to run mathematical functions to create SHA-256 hashes (mining Bitcoin). I just don't see how the hell the state can enforce a ban. It is this sort of scenario above that makes the idea of “banning” Bitcoin mining so utterly ludicrous. In order to effectively enforce that sort of scenario where you privately own a solar panel and miner, within the law, the state would have to go full Mr Burns and claim total ownership of the sun, and all of the energy radiated from the sun that lands within their country. They could say "we ban ASICs" - fine, I'll just mine on my GPU then. What if they "ban GPUs?". Fine I'll use my CPU then! You can even technically mine a Bitcoin block using pen and paper (maybe with a pocket calculator!) - so really when crazies talk about "banning Bitcoin mining" they are really saying we want to “ban math”. The notion that “mining can be banned” is so completely absurd, but there is some prescience of this in the world. For example there are many jurisdictions around the world where it is actually illegal to collect rainwater for the purposes of being self-sufficient. If the state can claim “they own the rainwater” they could probably claim “they own the sun”, in true 21st century clown world insanity - and the worst thing is that the masses would probably buy this line like all the other crap that comes from the state. I just find it amazing that the general population nods their heads to this crap and blindly agrees with whatever bullshit the MSM pump out from day to day. Does anyone have any critical thinking skills left at all at this point!? All I can think at this point is we really need some of the huge energy producers in the world (think Exxon, BP, EDF etc) to get on board with Bitcoin mining integrated into their grids/production. It would create a sort of 'regulatory moat' at that point and all these suggestions of "banning" would hopefully fuck right off!!! Just boils my blood that we are going full blown communist every day and people generally seem to be "cool" with the state ruling by decree at every turn. What ever happened to the state being the servants of the people. What a joke eh?
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Matt Odell | Citadel Dispatch E31: Getting Started with Bitcoin Mining with @diverter_nokyc, @econoalchemist, @roninminer [FULL TRANSCRIPT]
Matt Odell [6:53]: We have some very special guests today for a conversation that I have really been looking forward to. Today’s topic is Getting Started with Bitcoin Mining. I think it’s kind of…