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A comment on Kosovo bans cryptocurrency mining to save electricity. Parent comment

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.
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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.

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Re:Kosovo bans cryptocurrency mining to save electricity by conanbatt on Friday January 07, 2022 @09:59PM (#29848171)
1. No

2. It has always worked the same: people arbitrage the subsidy by doing energy inefficient labor. Bitcoin mining is just a more efficient arbitrage mechanism.

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