Seems like they are trying to gather data to justify regulating or even trying to shutdown mining. I don’t think they will succeed but at the very least I expect a lot of FUD to come out of this.
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yes, any information that miners give them will be used to harm the industry. there is no legal justification for them to require this info.
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I don't like that my government is showing clear bias against technological and social progress.
As I skimmed it, I found no mention of benefits and it seemed mostly negative, except when it came to shitcoining, so I asked ChatGPT for a sentiment analysis.
The sentiment toward cryptocurrency mining in the provided passage appears to be negative. The passage mentions several concerns and challenges associated with cryptocurrency mining, including:
Growing electricity demand: The passage highlights the rapid growth in electricity demand associated with cryptocurrency mining, which can be seen as a concern for energy consumption.
Attention from policymakers and grid planners: Policymakers and grid planners are concerned about the impact of cryptocurrency mining on electricity costs, reliability, and emissions, indicating a negative sentiment.
Concerns about the energy-intensive nature: The passage mentions concerns about the energy-intensive nature of cryptocurrency mining and its effects on the U.S. electric power industry, including strains on the electricity grid, potential for higher electricity prices, and effects on carbon dioxide emissions.
Requests for mandatory disclosure: Members of Congress have expressed a desire for a "mandatory disclosure regime" regarding emissions and energy use by cryptocurrency miners, which suggests a negative view of the industry's transparency.
Challenges in estimating energy use: The passage discusses the difficulty in accurately estimating the electricity use of cryptocurrency miners, which can be seen as a challenge and a potential issue.
Overall, the passage portrays cryptocurrency mining in a negative light due to its perceived impact on electricity consumption, the environment, and the challenges associated with tracking and regulating it.
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taxes. they want to know who to audit and how to estimate your earnings
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