BREAKDOWN: The EU’s Near Miss on a Proof-of-Work Ban
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 14 March 2022
⏱️ 25 minutes
🧾️ Download transcript
Summary
What today’s vote in the European Union Parliament means for Bitcoin.
This episode is sponsored by Nexo.io, Arculus and FTX US.
Today the European Union Parliament ECON committee voted on an amendment to the Markets in Crypto Assets (MiCA) directive that would have effectively amounted to a ban on proof-of-work chains. NLW breaks down the history and context of the amendment and recaps what happened during the vote.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: titoOnz/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:49.6 | My point is that fundamentally, the key thing that any environmental consideration of Bitcoin or proof of work is going to rest on is not whether other things consume more energy. |
| 1:00.5 | It's whether the energy that Bitcoin does consume in the first place is worth it. |
| 1:05.9 | Welcome back to The Breakdown with me, NLW. |
| 1:10.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:15.9 | The breakdown is sponsored by nexus.io, Arculus, and FTX, and produced and distributed by CoinDesk. |
| 1:23.6 | What's going on, guys? It is Monday, March 14th, and today we are discussing the EU's potential |
| 1:30.8 | proof of work ban, what was in the legislation and what happened in voting today. First, |
| 1:37.2 | however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a |
| 1:41.9 | review, or if you want to get deeper into the conversation, |
| 1:45.3 | come join us on the Breakers Discord. You can find a link in the show notes or go to bit. |
| 1:49.3 | bit.com slash breakdown pod. Finally, a disclosure, as always, in addition to them being a sponsor |
| 1:55.0 | of the show, I also work with FTX. So there were two big things that everyone was talking about in the crypto industry this |
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