I have read an article that the Swedish regulators are proposing a ban on cryptomining in the European Union.
If they ban it or regulate it, this presently shows a weakness in the bitcoin ecosystem. Anyone can argue that they might not do it because half or more of their energy sources are renewables. However, the regulators can always have the ability to ban cryptomining because it has become a business that needs regulator permits and licenses to begin operation or be approved to operate. The danger of a ban will always be there.
I reckon there should be a development and engineering team formed to research on Asic resistance. Users should be given back the ability to mine in the privacy of their own homes where the government has no right to stop them.
European Union will be strong enough for the development of cryptocurrency. Many people was not doing bitcoin mining for the less profit or No profit from it. This is cause of sudden fall and rise in the price of bitcoin. If the cryptomining was end in the European union. It leads to the instability of cryptocurrency flow.Government should reconsider their decision on this.
Mining of cryptocurrency is the essential one and it maybe costlier. But some will deny to do such things.Some will ready to do occupy huge profit from it.When people inverse their money, it's good stand to earn money from it.Rather they invest in mining, they gonna a rock the future.Their current profit maybe the low.When the bitcoin rocl the party, surely they will gain double or triple of current profit.Holding of bitcoin is essential to gain huge profit from it.