Swedish Central Bank calls for a proof of work ban

Because of its energy-intensive nature, the Swedish Central Bank requests confirmation of employment ban

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This is comparable to a law enacted in New York that also calls for the ban of PoW

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As a result, the central bank has received a great deal of criticism

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Many Bitcoiners have cited the bank's research titled Cryptocurrencies and their Impact on Financial Stability

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Christian Ander, the founder of the BTX Bitcoin exchange, agreed that it was very improper

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Christian also stressed the importance of regulating and neutralising energy usage

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However, there should be no restrictions on what one may do with it

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Another Twitter user, Knut Svanholm, concurred, stating that if central banks care about the environment, they will close their doors

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The Swedish Central Bank, Riksbank, issued the study lately, following in the footsteps of other institutions that have also denounced mining

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We must all understand that an attack on PoW is the same as an attack against Bitcoin

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It is currently the only physical money available to us, and it directly undermines the existing financial structures dictated by these central banks

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According to the analysis, Bitcoin mining in North Sweden alone consumes as much energy as 200,000 households on an annual basis

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