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posted by martyb on Saturday January 08, @10:43AM   Printer-friendly
from the charge-the-miners-more? dept.

Kosovo bans cryptocurrency mining after blackouts:

The government says security services will identify and clamp down on sources of cryptocurrency mining.

The mining is energy intensive and involves verifying digital transactions to get cryptocurrencies as a reward.

While all of Europe faces sharp price rises, Kosovo is enforcing rolling blackouts amid an electricity shortage.

The Balkan state's largest coal-fired power plant was shut down last month over a technical issue, forcing the government to import electricity at high prices.

A 60-day state of emergency, declared in December, gave the government powers to allocate more money for energy imports and impose stricter restrictions on power usage.

The blackouts have sparked protests and calls for the resignation of Economy Minister Artane Rizvanolli.

Energy prices are skyrocketing across Europe for various reasons, including low supplies from Russia and high demand for natural gas as economies recover from the Covid-19 pandemic.

The spike has been fuelled by geopolitical tensions with Russia, which supplies one third of Europe's gas. Russia has rejected European accusations that it has limited gas deliveries while tensions are raised

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  • (Score: 1) by khallow on Sunday January 09, @05:28AM

    by khallow (3766) Subscriber Badge on Sunday January 09, @05:28AM (#1211198) Journal
    So local markets and physical coinage (that doesn't presently exist except as a niche collector item). So not something that you could use over the present day internet, right?

    To give an example of the advantages and disadvantages of cryptocurrency, there's those bitcoin wallets with large amounts of bitcoins that have been untouched by everyone, owners through national actors. If everyone knew that there was a billion dollars of cash piled up somewhere, something would have happened to that cash by now, backhoe operator or national tax collector. The existence of these dead wallets indicates that there's a place to put stuff that's beyond the reach of even the most powerful. You can't do that with cash.