@wion @dredmorbius why would you punish the French citizens with a gas tax when the problem is not the 99%, but the 1%?

If you want to lower power usage / pollution you have to drop big, fat carbon taxes on the rich. They'll help solve the economies of scale when they invest in solutions that protect their bottom line and this tech will trickle down.

This is like the only trickle down that works. TAX THE RICH.

@feld You're addressing to different, though real and relevant problems.

One is under-pricing of fossil carbon fuels. Another is general inequality and inequity, as well as the age-old conflict between _rents_ incomes vs. _wages_ incomes. The rentiers generally win, the wage-earners generally lose.

There are additional taxes you want to impose on the 1%, but you _still_ have to make fossil fuels pay full freight.

@wion

@dredmorbius @wion the price of petrol in Europe is already prohibitively expensive. It still doesn't make sense if the pollution from average citizens combined is drastically lower in volume than a small number of companies and individuals -- you go after those who can weather the economic impact and pollute the most instead of tanking the economy because now everyone is struggling.

@feld First off, the issue in question was *electrical energy* not *petrol fuel*, as very few crypto-mining rigs burn petrol. For the fundamental reason expressed: IT'S TOO DAMNED EXPENSIVE.

Crypto mining is a COMPLETELY economically-driven process: the viability of crypto mining is driven by fixed and marginal costs, and the market price of bitcoins.

(I'm not even getting to the point that that market is completely whack, though read David Gerard's excellent book and anslysis.)

@wion
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@feld ... and public goods (an economic term, not just "government-supplied stuff" but "zero marginal cost" or "nonexcludable consumption") also tend to below-cost values.

Then there's a whole slew of stuff that has wonky informational dynamics -- full costs aren't properly realised, and such. Pollution, basically. Those tend to be sold _below_ actual impact costs, and overconsumed.

Extractive resources (fossil fuels included) also get under-priced.

And yes, "the rich" benefit.

@wion
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