Is The White House Preparing To Declare War On Bitcoin?

The Biden administration released a report claiming Bitcoin is bad for the environment and Proof-of-Work consensus protocols may need further regulation or ought to be banned altogether. 

While it's unlikely the Biden administration will ban Bitcoin tomorrow, it does seem as if they are preparing to make Proof-of-Work mining more difficult. 

Here is an excerpt from Bitcoin Magazine's coverage of the White House's Bitcoin report (source): 

The White House Office of Science and Technology released a report claiming bitcoin mining negatively impacts the environment and hints towards banning proof-of-work.

“Electricity usage from digital assets is contributing to [greenhouse gas emissions], additional pollution, noise, and other local impacts, depending on markets, policies, and local electricity sources,” reads the report.

The first section of the report serves as an introduction while also hinting towards banning proof-of-work mining, which is used to mine bitcoin, if regulatory action fails to influence U.S. climate goals.

“Should these measures prove ineffective at reducing impacts, the Administration should explore executive actions, and Congress might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining,” per the report.

The mainstream media has been trying to push a "Bitcoin is bad for the environment" narrative for a long time now. 

This is an outright lie. 

The Crypto Christian published a Guide to Bitcoin and the Environment you can read here

Bitcoin miners are using energy that would have otherwise been wasted, energy that is stranded, and often using energy from renewable energy resources. 

The truth is, they simply view any use of energy for Bitcoin to be a waste. It's one of the most energy-efficient and cleanest industries in the country. But that doesn't matter to them. 

Anthony Pompliano's coverage on the White House's report is worth watching: 


Banning Proof-of-Work mining would be a big mistake for the United States. China banned Bitcoin mining and mining operations scattered across the globe further decentralizing the network. 

The same would happen if the United States enacted a ban. The U.S. is unable to "stop" Bitcoin. 

The real loss would be the United States falling behind in Bitcoin adoption and failing to capture the benefits of this new industry. We should be a leader in the space and not give into fear.