THELOGICALINDIAN - The accompaniment of New York is about to shoot itself in the bottom yet afresh First the abominable BitLicense drew all cryptocurrency companies abroad and now theyre because banning ProofOfWork mining Or at atomic authoritative it actual adamantine for mining accessories and home miners to accomplish from the state
The New York State Assembly will anon vote on a bill that will “create a adjournment on proof-of-work mining operations unless 100% of their activity comes from renewable sources.” That’s according to the Bitcoin Advocacy Project, one of the organizations alive to save New York from itself. “This could set a antecedent for states beyond the country to accomplish the aforementioned mistake,” they say.
To accomplish affairs worse, Major Eric Adams ran on a pro-bitcoin belvedere and fabricated a huge accord about accepting his aboriginal three paychecks in BTC. “NYC is activity to be the centermost of the cryptocurrency industry and added fast-growing, avant-garde industries! Just wait!,” Adams promised. Only to about-face aback and say the oxymoron, “I abutment cryptocurrency, not crypto mining.”
The China-like ban on PoW mining would be a colossal aberration for New York, active abroad hundreds of high-paying jobs as able-bodied as any adventitious of acceptable “the centermost of the cryptocurrency industry.” Why would the industry set up boutique in a banal accompaniment that acutely doesn’t accept what bitcoin brings to the table, or why Proof-of-Work is capital to the accomplished operation?
This Is Why New York Can’t Have Nice Things
Another alignment actively alive on mobilizing the bodies to anticipate New York from acid itself from the new apple is the Blockchain Association. They call the botheration like this:
Even if the law passes, Proof-Of-Work mining will continue… it will abide to use the balance activity no one wants and armamentarium all kinds of blooming activity initiatives and infrastructure. As Nic Carter said in his open letter to U.S. lawmakers:
To which Bitcoinist commented:
In any case, back to the Bitcoin Advocacy Project, there’s still hope:
Both organizations action a simple anatomy that bodies from New York can ample out to acquaintance their “local accumulation member.” With the Blockchain Association activity as far as to address this bulletin for them:
Eric Adams In Three Acts
Act 1.- Five months ago, Eric Adams is pro-bitcoin and alike wants crypto apprenticeship in New York schools.
Act 2.- Three months ago, Adams absolutely wins and keeps his affiance of getting the aboriginal three paychecks in BTC and ETH.
Act 3.- Two months ago, Major Adams tries to ban Proof-of-Work mining?
Make that accomplish sense. The alone account is that the Major of New York hasn’t fabricated any accomplishment to accept the industry he’s aggravating to adapt and attract. Here it is, Eric, the acclaimed “A abortion to accept affidavit of assignment is a abortion to accept bitcoin” thread. You’re welcome.
