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I think cryptocurrencies are idiotic, but this essay just does not make a case for a blanket ban at all, nor do I think one is necessary.

The environmental impact should be regulated, but other than that, governments should just stay out of it and let the cryptocurrency landscape be the wild frontier its proponents want it to be. May the best obfuscated smart contract code win, until no one wants to play anymore.

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Other than the miners paying the market price for electricity, how would the environmental impact be regulated?

tax exchanges both ways, with a bit more than normal capital gains. Want to buy bitcoin, tax is like an IRA. Want to sell bitcoin for fiat, tax it like cap gains. Use some of this tax as an 'externality tax' like carbon tax should be anyways.

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