Stories
Slash Boxes
Comments

SoylentNews is people

SoylentNews is powered by your submissions, so send in your scoop. Only 15 submissions in the queue.
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


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Sunday January 09, @01:45PM

    by Anonymous Coward on Sunday January 09, @01:45PM (#1211238)

    OMG! how can bitcoin use less energy then the system it relies on?
    the "price of bitcoin" is always in a fiat currency.
    it makes no sense to say "one bitcoin is valued at 0.78 bitcoins today".
    also so much infrastructure required for cry-top is bought with fiat and energy bills are paid in fiat.
    no fiat, no bitcoin (value).