Re:Kosovo bans cryptocurrency mining to save electricity
by conanbatt on Wednesday January 05, 2022 @10:27AM
(#29810114)
It would be better to give the money to the people and they can choose to spend it on electricity or something else. Subsidizing electricity is a distortion.
Re:Kosovo bans cryptocurrency mining to save electricity
by caf on Wednesday January 05, 2022 @05:49PM
(#29816265)
Isn't that just going to bid up the prices for everything else?
Historically, subsidising electricity has worked fairly efficiently, because it wasn't possible to effectively store and re-sell or export it.
Let's say 5% of Iran's GDP is spent on energy. Not sure what the number is, but whatever. A big chunk but affordable for the economy as a whole. At the market price, maybe 10% of people cannot afford to consume enough energy to meet the necessities of modern life - cooking, not freezing to death, using transportation. If you don't want these 10% of people to be shut off from modern society, you need to subsidize somehow.