{"id":34725,"date":"2022-06-03T07:11:06","date_gmt":"2022-06-03T07:11:06","guid":{"rendered":"https:\/\/harchi90.com\/white-house-investigating-crypto-energy-consumption\/"},"modified":"2022-06-03T07:11:06","modified_gmt":"2022-06-03T07:11:06","slug":"white-house-investigating-crypto-energy-consumption","status":"publish","type":"post","link":"https:\/\/harchi90.com\/white-house-investigating-crypto-energy-consumption\/","title":{"rendered":"White House Investigating Crypto Energy Consumption"},"content":{"rendered":"<div id=\"\">\n<section class=\"article-key-takeaways\">\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>Bloomberg Law reports that the White House is studying crypto mining and its energy footprint in order to make sound policy recommendations.<\/li>\n<li>The study is also looking into noise, local pollution, and the effect of mining on energy grids.<\/li>\n<li>The head of the study, Costa Samaras, sees the possibility of a world where Proof-of-Work and Proof-of-Stake continuously coexist.<\/li>\n<\/ul>\n<\/section>\n<section class=\"article-share top\">\n<h4>Share this article<\/h4>\n<\/section>\n<p><span style=\"font-weight: 400\">A White House task force is currently examining the advantages and disadvantages of cryptocurrency mining with the aim of providing the Biden administration with appropriate policy recommendations.<\/span><\/p>\n<h2><b>&#8220;Appropriate Policy Responses&#8221; <\/b><\/h2>\n<p><span style=\"font-weight: 400\">A new <em>Bloomberg Law<\/em> report claims that the White House is looking into the energy consumption of cryptocurrency mining ahead of making policy recommendations.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According<\/span><span style=\"font-weight: 400\">  to the report, White House Office of Science and Technology Policy principal assistant director for energy Costa Samaras is heading a study that aims to reach a better understanding of the advantages and disadvantages of cryptocurrency mining while keeping a focus on energy consumption and emissions footprint.  The report is expected in August;  it follows President Joe Biden&#8217;s executive order instructing federal agencies to ensure the \u201cresponsible\u201d mining of cryptocurrencies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cIt&#8217;s important, if this is going to be part of our financial system in any meaningful way, that it&#8217;s developed responsibly and minimizes total emissions,\u201d Samaras told Bloomberg Law.  The study also plans to look into \u201creports about noise, local pollution, older fossil generators being restarted in communities\u201d and compare the merits of Proof-of-Work consensus algorithms to Proof-of-Stake. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Samaras acknowledged that despite being energy-intensive Proof-of-Work offered greater security insurance than its counterparts, indicating the energy team was keeping an open mind while conducting the investigation.  He also talked of the need for \u201cappropriate policy responses\u201d to a world in which \u201csome continuous mix of Proof-of-Work and Proof-of-Stake\u201d existed.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The nuance in the White House&#8217;s approach contrasts with Greenpeace&#8217;s recent campaign, \u201cChange the Code, Not The Climate,\u201d which aggressively advocates for Bitcoin to follow Ethereum in moving away from Proof-of-Work in order to reduce the protocol&#8217;s energy consumption.  The campaign made a number of dubious <\/span><span style=\"font-weight: 400\">claims<\/span><span style=\"font-weight: 400\">  about Bitcoin&#8217;s consumption, using long-debunked reports to argue Bitcoin emissions increase alongside the coin&#8217;s market price and could end up pushing global warming above 2 degrees Celsius.<\/span><\/p>\n<p><i><span style=\"font-weight: 400\">Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies. <\/span><\/i><\/p>\n<section class=\"article-share bottom\">\n<h4>Share this article<\/h4>\n<\/section>\n<section class=\"article-footer\">\n<div class=\"disclaimer\">\n<input type=\"checkbox\" class=\"disclaimer-toggle\" id=\"disclaimer-toggle-119059\"\/><\/p>\n<div class=\"disclaimer-content\">\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website .  Decentral Media, Inc. is not an investment advisor.  We do not give personalized investment advice or other financial advice.  The information on this website is subject to change without notice.  Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate.  We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice.  We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment.  We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"recommended-posts\">\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bloomberg Law reports that the White House is studying crypto mining and its energy footprint in order to make sound policy recommendations. The study is also looking into noise, local pollution, and the effect of mining on energy grids. The head of the study, Costa Samaras, sees the possibility of a world where &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/white-house-investigating-crypto-energy-consumption\/\"> <span class=\"screen-reader-text\">White House Investigating Crypto Energy Consumption<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/06\/02144659\/whitehouse-cover-768x403.png","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/34725"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=34725"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/34725\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=34725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=34725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=34725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}