They are "a slow and steady process" compared to hundreds of millions of cars and thousands of coal power plants all over the planet.
Also Quebec would have a hard time enforcing
It doesn't have a hard time. For a successful and profitable mining operation you need a significant number of rigs and they need a significant amount of electricity. Something you can't get as a resident. You need a business for that and thus you need to tell the government what your business does. That's why the current crypto mining companies in Quebec aren't expanding.
Doubt, Quebec is a cold place. I could run at least 10 rigs with the same power consumed by a electric boiler, all within "normal" consumption for a home. And for the summer you'd simply claim that you run the AC, in reality you sweat like a pig while taking a bath in your cold pool during the few hot days of the summer.
All while making $200k per year on average, which is acceptable profit and a fully livable wage for a $30k investment.
You don't build a business with 10 rigs. You build a business with thousands and thousands of rigs. They are not in for just $200k. They want millions.
And you don't have to believe me, just read the article.
All I'm saying is that massive centralized mining businesses are hurting the decentralization of the blockchain. Hence, such ban ain't necessary bad for crypto as concept.
Besides, if you wanted to build a massive mining business, because apparently $200k per year in individual mining ain't enough, you wouldn't build it in Canada anyway, you'd build it anywhere the electricity is cheap, preferably in a cold place where cooling is cheap as well.
Electricity in Quebec is extremely cheap and the climate is cold. The cheapest rate is 6 cents per kWh. 6 Canadian cents. That's less than 5 US cents. You don't get that anywhere in the US for example.
They are "a slow and steady process" compared to hundreds of millions of cars and thousands of coal power plants all over the planet.
It doesn't have a hard time. For a successful and profitable mining operation you need a significant number of rigs and they need a significant amount of electricity. Something you can't get as a resident. You need a business for that and thus you need to tell the government what your business does. That's why the current crypto mining companies in Quebec aren't expanding.
https://www.coindesk.com/why-crypto-miners-are-leaving-quebec
Doubt, Quebec is a cold place. I could run at least 10 rigs with the same power consumed by a electric boiler, all within "normal" consumption for a home. And for the summer you'd simply claim that you run the AC, in reality you sweat like a pig while taking a bath in your cold pool during the few hot days of the summer.
All while making $200k per year on average, which is acceptable profit and a fully livable wage for a $30k investment.
You don't build a business with 10 rigs. You build a business with thousands and thousands of rigs. They are not in for just $200k. They want millions.
And you don't have to believe me, just read the article.
All I'm saying is that massive centralized mining businesses are hurting the decentralization of the blockchain. Hence, such ban ain't necessary bad for crypto as concept.
Besides, if you wanted to build a massive mining business, because apparently $200k per year in individual mining ain't enough, you wouldn't build it in Canada anyway, you'd build it anywhere the electricity is cheap, preferably in a cold place where cooling is cheap as well.
Electricity in Quebec is extremely cheap and the climate is cold. The cheapest rate is 6 cents per kWh. 6 Canadian cents. That's less than 5 US cents. You don't get that anywhere in the US for example.