6/10/2021
Proposed New York Bitcoin mining ban watered down to allow green projects
BRIAN QUARMBY
5 HOURS AGO
Proposed New York Bitcoin mining ban watered down to allow green projects
New York senators have amended a proposal to ban all crypto mining for three years, and are now seeking to only stop mining
firms backed by carbon-based fuel sources.
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Proposed New York Bitcoin mining ban watered down to allow green projects
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NEWS
A proposed crypto mining ban calling for a forced three-year hiatus on all mining operations in New York has been watered
down — and will now allow green projects.
The bill passed in the senate on June 8, and has now been referred to the state assembly. If the bill is passed in the assembly, it
will be delivered to Governor Andrew Cuomo to either approve or veto the proposed legislation.
The initial New York Senate Bill 6486A sought to halt all crypto mining for three years in order to conduct environmental impact
reviews on mining operations in the tri-state area.
However, the bill was amended in the senate to get it over the line, and the revised 6486B-bill is now focused solely on any firm
that uses carbon-based fuel sources to power proof-of-work crypto mining.
New York State Senate
@NYSenate
#NYSenate Bill S6486B, sponsored by @SenatorParker,
passed (36-27, unofficial). Establishes a moratorium on
consolidated operations that use proof-of-work
authentication methods to validate blockchain
transactions:
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Proposed New York Bitcoin mining ban watered down to allow green projects
NY State Senate Bill S6486B
Establishes a moratorium on consolidated operations that use proof-ofwork authentication methods to validate blockchain transactions; …
nysenate.gov
4:43 AM · Jun 9, 2021
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There is no longer a specific time frame on the crypto mining ban with the bill preventing the expansion of any carbon-fuel
powered mining operations, along with the establishment of any new mining operation using non-renewable energy sources.
The amended bill also calls for documentation regarding the energy output, carbon footprint, and type of fuel used by all crypto
miners.
Governor Cuomo stated on June 7 that he was not well versed in the proposed ban, however, he is aware of the environmental
concerns surrounding the crypto mining industry:
“There are serious concerns. There’s no doubt about that. There are serious concerns. And I’ll look at the legislation.”
New York legislators' examination of crypto mining appears to be related to its sustainable energy targets with the bill referring
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6/10/2021
Proposed New York Bitcoin mining ban watered down to allow green projects
New York legislators examination of crypto mining appears to be related to its sustainable energy targets, with the bill referring
the state’s “Climate Leadership and Community Protection Act”
The Protection Act set a target of reducing greenhouse gas emissions by 85% by 2050, and zero net emissions from all sectors of
the economy within that time frame.
An ongoing issue concerning some New York residents, is the approved expansion of Greenidge’s gas-fired Bitcoin plant on
Seneca Lake — which intends to dedicate 85 megawatts of power to Bitcoin mining by 2022.
The firm’s reported transition from coal to natural gas, along with its recent shift to carbon neutrality through carbon offsets,
hasn’t dampened down the opposition of environmental group Seneca Lake Guardian.
The group noted on June 5 that the Greenidge had merely switched from being a coal-fired plant to a “fracked-gas burning
plant,” and complained that the Department of Environmental Conservation (DEC) has failed the citizens by not “completing a
new Environmental Impact Statement”:
“Greenidge is now burning fossil fuels simply to make fake money in the midst of climate change, with no regulation or
oversight.”
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Proposed New York Bitcoin mining ban watered down to allow green projects
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#Mining
#Proof-of-Work
#New York
#Bitcoin Mining
#Green technology
#Andrew Cuomo
#Regulation
#Sustainability
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BRIAN QUARMBY
13 MINUTES AGO
Nifty News: Doge NFTs much wow, Paris Hilton is an NFT advisor, NFT game raises $3M
The founder of Doge dropped a three-tiered series of NFTs and Paris Hilton becomes an NFT advisor.
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Proposed New York Bitcoin mining ban watered down to allow green projects
NEWS
Billy Markus, the co-founder and engineer of Dogecoin (DOGE), who also sold off his DOGE stash for the equivalent of a used
Honda Civic in 2015, has entered the nonfungible token (NFT) market.
On June 9, Markus unveiled the drop of Doge-based NFTs dubbed “Capped Dogecoin” which he described as “Much cap, very
deflation, many tokenomics. Many Available.”
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Proposed New York Bitcoin mining ban watered down to allow green projects
Capped Dogecoin - Much cap, very deflation, many tokenomics. Many available!
- Tier 1 is available on Rariable, 420 issued: https://t.co/00wSCeciCB
- Tier 2 is also on Rariable, 3 issued (already sold out)
- Tier 3 is up for auction on @withFND, only 1: https://t.co/1LiijfSvCy pic.twitter.com/JprzxPoaeO
— Shibetoshi Nakamoto (@BillyM2k) June 8, 2021
The NFTs are split into three tiers, and all depict a spinning golden coin, with a picture of the iconic Shiba Inu in a Dogecoin
baseball cap — with the upper two-tiered NFTs having more detail such as a colored cap, an outer space background or a shiner
polish to the coin.
Tier-one is an open edition of 420 copies and can be purchased on Rarible for 0.081 wrapped Ether (wETH) worth $208.52 at
current prices.
Tier-two is already sold out on Rarible, and had three copies which sold for 0.8 Ether (ETH) each worth around $2,063.
The third tier consisted of a one-of-one which sold for 1.5 ETH worth $3,866 on Foundation earlier today, with Foundation user
“swaggmire” purchasing the rights to the NFT.
Interestingly, “swaggmire” went on to re-list the NFT for 420.69 ETH worth around $1 million, however that appeared to be in
jest, as they promptly changing the price to 6 ETH worth roughly $15,500.
Paris Hilton becomes an NFT advisor
While other celebrities have since left the NFT space following a cooldown of prices in the market, billionaire and self-described
“boss girl” Paris Hilton is doubling down.
P i
t
l i t itt
/l4EP Y8S4J
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Proposed New York Bitcoin mining ban watered down to allow green projects
Paris crypto angel pic.twitter.com/l4EPuY8S4J
— BitIcon (@BitIcon2) June 9, 2021
According to a June 8 Medium blog post from Origin — Paris Hilton has joined the team as an investor and an advisor, with the
firm seeking her out to provide expertise on how to cater to the upper echelons of society.
World-renowned business & media icon @ParisHilton is joining Origin as an advisor & $OGN investor.
She will be supporting our mission of making NFTs mainstream, advising on delivering value to top celebrities & more.
Welcome to Team Origin, Paris! https://t.co/U62lh3fwV1
— Origin Protocol (@OriginProtocol) June 8, 2021
“As an investor and advisor, Paris will provide strategic advice on how to most effectively deliver value with NFTs for top-tier
creators like celebrities, influencers, and brands.” the blog post read.
Origin is an Ethereum-based protocol that helps buyers and sellers transact in a decentralized environment.
According to the firm’s website, the project wants to bring “NFTs and DeFi to the masses” by enabling users to host NFT sales on
their own domains, and also by offering yielding returns along with its governance token, and OUSD stablecoin.
Guild of Guardians
A new mobile-based NFT game called Guild of Guardians has completed the first wave of its "Founder’s NFT sale," raising $3
million in sales, according to an announcement shared with Cointelegraph.
The sale was for a collection of usable and “playable” NFTs that will be introduced into the game, with prices ranging from $200
https://cointelegraph.com/news/proposed-new-york-mining-ban-watered-down-to-allow-green-projects
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Proposed New York Bitcoin mining ban watered down to allow green projects
to $100,000.
Guild of Gurdians
Philippines-based crypto gaming collective Yield Guide Games purchased one of the 10 “mythic guild” NFT worth $100,000. The
mythic guild NFT allows up to 50 players to enter the game and provides the guild owner a 10% cut of earnings from guild
crafting in the game.
“The community response has been incredible. Over 50% of all sales came via referrals — indicating that the community was
sharing with each other, and there is a real 'share-to-earn' aspect in place," said Derek Lau, Game lead for Guild of Guardians.
https://cointelegraph.com/news/proposed-new-york-mining-ban-watered-down-to-allow-green-projects
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Proposed New York Bitcoin mining ban watered down to allow green projects
The game follows the play to earn model, however, Lau also expressed the importance of developing a game that is fun to play
and not just about the monetary rewards:
“Rather than 'play-to-earn,' we want to instill the idea of 'play-and-earn' — ensuring that players are not just playing to make
money alone, but playing for fun and great gameplay as well," Lau said
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#Dogecoin
#Business
#Games
#mobile games
#NFT
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Proposed New York Bitcoin mining ban watered down to allow green projects
This all-in-one DeFi platform wants to bring crypto to the masses
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NFT game developer Animoca Brands completes capital raise at $1B valuation
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Proposed New York Bitcoin mining ban watered down to allow green projects
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