BREAKING: Congress Could Ban Bitcoin Proof of Work?!

The White House just released a new report on crypto mining. Anthony Pompliano breaks down some shocking statements about potential bitcoin mining bans inside the report.

Follow Pomp on social media:

#AnthonyPompliano #Pomp #Bitcoin #Finance #Business #Crypto

[AnthonyPompliano]

Make sure you are subscribed to the channel to get more videos like this every day 🙏🏼

[robtmil]

Politicians in the US are for sale. Bitcoiners are rich.

[kstessel]

How much electricity does all the clothes dryers use?

[cdistasio]

Yada yada yada... Time to ban government.

[HowardARoark]

Without Proof Of Work what is the actual point of Crypto at all ? It's just another centralized system, wrapped up in a fancy new high tech wrapper. Most people seem to forget the actual purpose for which Crypto was created.

[ironsheek]

How much electrical consumption does it take to print trillions of dollars lmao….give me a break

[HelixEvo-]

Where is the report on FIAT ecosystem and how that affects the climate.. 🤭

[KayFabe]

The democrats heard the phrase "proof of work" and thought it had something to do with being eligible to collect unemployment benefits so they immediately came out against it. "No one should have to show proof of work in order to qualify for limitless unemployment benefits!" They have no idea that it has anything to do with bitcoin mining. But, it has the word "mining" in it so it must be "bad".

[elisaj]

Will they also ban Christmas lights? Vegas?

[nickking]

Proof of work is a drop in the bucket compared to other wasted electricity

[healthynutster]

Even if BTC mining were banned, mining elsewhere would increase to take up the slack. China banned mining and the network is still humming along quite nicely. I don’t believe Bitcoin can be killed right now by any government or bank. How would they do it?

[Martin-jkng]

But electric cars are "environmentally friendly".

[alignmediationltd]

Not ideal for decentralisation that 40% of total hash rate is in the US

[theagemaway]

Politicians: "how dare you use electricity to print money!"
Politicians: *prints even more money*

[corridor]

Christmas lights are worse and printing fiat wastes more energy

[PBHorrorGaming]

Electricity bills in the EU have gone off the charts in the last month or so.

[hoaxburn]

Proof of work is the essence of decentralization, that's why they don't like it.

[stantzz]

They dont like BTC, period. No matter what, they will ban POW.

[titus]

Mining for all the metals they use for batteries in electric cars are bad for the environment. Traditional banking industry uses alot of electricity, ban it.

[akosmagyar]

The study does not mention that bitcoin can run all on renewables at any time (say from tomorrow) as the difficulty always adjust to keep mining profitable. The network automatically adjusts it every two weeks. Sure at first it would be shock and a lot of miners would go bankrupt but within a year it would be running smoothly may be at 50-75% of the current hash rate. So unless they just want an excuse to ban it the ESG does not seem to be an existential problem.