In this video, I discuss the White House attack on ₿itcoin mining in the form of the proposed DAME Tax on the electricity used by ₿itcoin miners.
Not only will this Tax drive ₿itcoin miners to countries with dirtier grids, it is an unfair attack on a completely legal and legitimate industry that provides Jobs and Tax Revenues.
Usage of basic utilities like electricity, water, internet, etc., should not be politicized. If a political party imposes Special Taxes on industries that they don't like, they should be ready for an opposing political party to do the same thing to them when they retake power.
Is this really how a government should interact with an economy? Does this provide a stable backdrop and rule of law that allows for businesses to make good long-term capital allocation decisions?
No, it doesn't.
How ₿itcoin Mining Helps The Electric Grid:
https://www.youtube.com/watch?v=ruSAOqEfCiE&ab_channel=BitcoinUniversity
Why ₿itcoin Mining Is Good For The Environment:
https://www.youtube.com/watch?v=-j4cXA09Dz0&ab_channel=BitcoinUniversity
NYT Attacks ₿itcoin Mining (Hit Piece):
https://www.youtube.com/watch?v=BY8D0Eus4LA&ab_channel=BitcoinUniversity
The proposed DAME tax on Bitcoin mining:
https://www.whitehouse.gov/cea/written-materials/2023/05/02/cost-of-cryptomining-dame-tax/
SHA-256 hash calculator:
https://xorbin.com/tools/sha256-hash-calculator
Operation Choke Point:
https://en.wikipedia.org/wiki/Operation_Choke_Point
"If the government doesn’t like how you use energy, you will be penalized":
https://twitter.com/tommapes88/status/1653564180656529410
Original Video by Bitcoin University: https://www.youtube.com/watch?v=27foizgtFUc
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