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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: 2) by Thexalon on Sunday January 09, @05:21PM (2 children)

    by Thexalon (636) on Sunday January 09, @05:21PM (#1211268)

    So here's another way of looking at it:
    1. What would happen to the world if all crypto suddenly disappeared?
    2. What would happen to the world if all banking suddenly disappeared?

    That should give you a good gut check about whether crypto is a good use of energy.

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    Alcohol makes the world go round ... and round and round.
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  • (Score: 2) by Freeman on Monday January 10, @05:36PM (1 child)

    by Freeman (732) on Monday January 10, @05:36PM (#1211546) Journal

    That's dumb. The world would keep on ticking, if I didn't get a nice cup of tea every now and again. Sure would suck, though. Just because the world won't come to a screeching halt, if X thing ceased to exist, doesn't make X thing good/bad.

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    • (Score: 2) by Thexalon on Monday January 10, @05:53PM

      by Thexalon (636) on Monday January 10, @05:53PM (#1211554)

      It's not about good vs bad, it's about essential vs luxury. When you're trying to allocate resources, "what if it doesn't happen at all" is always a useful question to ask.

      As a simple example, "Should I pay the rent, or should I order another round of drinks?" is an easy question, because of the consequences of not paying the rent vs not buying another round.

      --
      Alcohol makes the world go round ... and round and round.