Marius 🟧 Adopt a Block on Nostr: The IMF wants to impose a global tax on #Bitcoin mining ⛏️ and AI data centers ...

The IMF wants to impose a global tax on #Bitcoin mining ⛏️ and AI data centers 🤖

Here is a shot explanation on what they want to achevive 👇

The IMF states that:
- In 2022, "crypto" mining and data centers together accounted for 2% of global electricity consumption ⚡️
- This consumption could rise to 3.5% by 2027 📈
- By 2027, "crypto" mining alone could contribute 0.7% of worldwide CO2 emissions 🌳

To "help" that, IMF proposes a new borderless tax policy :
- $0.047 per kWh for mining ⛏️
- $0.032 for AI data centers 🤖

Firstly, the IMF clearly differentiates Bitcoin mining and data centers.

But why should Bitcoin mining face higher taxes? Is a CO2 molecule somehow worse if it comes from Bitcoin rather than from data centers?

Even if this were true, if CO2 emissions are the IMF's main concern, why not tax the carbon emissions directly?

And why specifically targetting AI and Bitcoin? Who decides they warrant special taxes over, Christmas lights or electric scooters?

They try to justify this difference by stating:
"It is slightly lower than for crypto because data centers tend to be in locations with greener electricity."

Apparently, "tend to" is considered an argument... But where are the actual metrics?

The truth is that data centers require high connectivity, making them dependent on the local energy mix, which isn't always green 🚫

Then, IMF says this taxe will "motivate the adoption of less energy intensive crypto mining".

Are they suggesting a shift to Proof of Stake? Isn't that a Greenpeace (shit) campaign?💩

The IMF overlooks 🙈 that miners' ability to relocate and choose their energy sources naturally drives them toward greener, often cheaper, energy sources 🔋

For your information, Bitcoin already utilizes over 55% green energy ⚡️ the rest is largely powered by abundant energy that’s often wasted and only accessible to Bitcoin mining ⛏️

More details here 👇
https://www.adoptblock.com/orange-is-the-new-green

IMF is even spreading misinformations ❌
The IMF claims that "crypto" mining and data centrers currently consume 2% of global electricity and could emit 0.7% of CO2 by 2027.

In reality, Bitcoin only consumes less than 0.5% of global electricity 🔋 and accounts for just 0.1% of global CO2 emissions 🌳

Even if "crypto" mining and data centers together did consume 2% of global electricity, this is highly misleading when you consider the facts mentioned above and the actual metrics.

Sources :
🇫🇷 https://cryptoast.fr/fmi-envisage-taxe-mineurs-bitcoin-serveurs-intelligence-artificielle-ia/
🇬🇧 https://www.imf.org/en/Blogs/Articles/2024/08/15/carbon-emissions-from-ai-and-crypto-are-surging-and-tax-policy-can-help