You need to explain why food/gasoline prices have skyrocketed since 2021... not me.

What we need to ignore is you claiming that Biden is a "sane" politician or that FED has a "sane" monetary policy. Either you're trolling or you're crazy.

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Ignore what? Psychological projection? Or gaslighting me?

You implied first (you even used a trademark, FFS!) that math is a "partisan" thing, not me.

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Ignore what? Psychological projection? Or gaslighting me?

You implied first (you even used a trademark, FFS!) that math is a "partisan" thing, not me.

Prices are not back to normal, they're double... wages have not doubled.

Yes that's right and if we see the government's always make assumptions in setting the percentage limit is looking at the level of income and exactly as you say, the problem is that the 30% tax figure will probably be their burden with high assumptions. I am sure that they will recalculate to adjust the implementation costs and profits, whether it is suitable if it is not suitable and they lose, the risk is that they change places in carrying out their business activities.

Wherever the implementation of taxes is seen as able to increase state revenue, there needs to be a policy that has the right balance between encouraging growth and overcoming potential risks because Every growth of the tax collection industry is 2 things that will remain true anywhere and anytime , especially in the economy, especially in this case crypto mining which is growing rapidly today.

It's not a tax on business. It's a tax on electricity used if you buy it!
There was a misunderstanding in it that you will pay even if you generate it yourself but that off-grid purchase definition is only when you buy it from another operator, in fact just how many minign farms are doing right now, by having a private offgrid contract with a powerplant.

And if anyone thinks this will be a disaster for mining in the US, those guys pay between 2- and 3 cents per kwh, this 30% increase would lead them to 4 cents per kwh at most, do you think they will pack their bags and go...where? Cause that would still be insanely cheaper compared to half of the world.
So they will simply stay put, pay up, or raise money to buy their own power source that will exclude them from the tax.

the only person misunderstanding it seems to be you.

The tax would also apply to crypto mining firms that generate their own electricity.

https://www.fxstreet.com/cryptocurrencies/news/biden-resurrects-30-crypto-mining-tax-in-new-budget-proposal-202403121228


that's a separate thing but the would still have to pay too:

Companies that produce or acquire power “off-grid” would also need to pay a 30% tax on the estimated costs of their electricity bills.

or are you saying the article i linked to is wrong?

well if that's the case then the tax should be even higher as they could surely handle it.


no they really can't. not like they can with power usage.

then modify the proof of stake protocol so that everyone has an equal chance of being a validator.

explain this statement:

The tax would also apply to crypto mining firms that generate their own electricity.

put up solar panels to run your mine, you pay the tax. because you're generating your own electricity. that's what it says to me.

that's not a bright side for the small guy. that kind of puts the small guy at a huge disadvantage. with this tax it makes it an even bigger one since they are getting taxed on 30% of 11 cent per kwh rather than just 2.5. so if you're for centralizing hash power in big mining farms then i guess you support this legislation.  

maybe that is a bright side but putting small miners out of business is not one of them. goodbye to small miners if this thing passes either that or they become criminals for doing tax evasion. there shoud be alot of antminers being dumped on ebay if this thing passes.

no one claimed that. but i think he was saying that decentralization would be a side affect of them doing that. which does kind of make sense if it results in an exodus of miners from the usa but what is decentralization really based on? geographical location or controlling party? i would say its the latter more than the former.

i'm glad you agree with me that this would hurt the little guy more than the big guy. mom and pop miners will really be hit hard. i don't see how they would be able to survive.

yeah just on the initial purchase but not on the amount of electricity you generate every month. can you imagine if the government did THAT? charging you for any electricity you use no matter what it was for. adding on a 30% tax for that? why not? they're trying to do it for mining.

because society is alot more complicated than it used to be. private companies operate prison facilities and stuff like that.

rebels don't exist anymore. unless they are in jail. for a long time.

that's easy to say but society in the usa is too fragmented and complex to think or expect that anyone is going to organize and go up against the us government even on a city level to say nothing of federal. if the entire state of texas can't run the border down south like they want to what makes you think you can do anything you want to?

https://www.texastribune.org/2024/01/22/texas-border-supreme-court-immigration/

30% of miners' electricity cost is not small.

I wish the people of America good luck 

If all you do is mine Bitcoin as a source of income, there is still enough time now to reconsider another country, but God has mercy on your soul if you are the type who loves his or her country.

The best time to mine Bitcoin is now and the value is still very good enough, after the coming halving the reward will be cut in  half, and maybe in a year and half, we will be in another bear market? It will be hard to keep mining when your electricity is making it harder and now taxes too.

the problem is, such a small percentage of people are going to be affected by this law in the usa that the voice of the miners is going to be so small as to be negligible. on the other hand, lets say biden was trying to tax uber/lyft drivers an additional 30% on their electricity use of their electric car well then that would be a different story. the drivers would raise a huge stink about that and a bazillion journalists would be writing stories on it like this was the gravest injustice ever known to man...