Places with issues at that level aren't really where much mining is happening.
Re:The Ethereum merge is done
by ChuckNorris89 on Thursday September 15, 2022 @05:38AM
(#32849340)
Sure, buit the energy crisis is a global issue. And you can't solve global issues using local solutions.
I mean it's technically both, Australia sure isn't waiting for the world to rely less on coal and gas, it's pumping 10's of billions into renewables, something some of us argue should have been done years ago.
No it's not, there's a lot of stranded energy in the world. We are just missing it where we need it the most. That's why your country is doing "local solutions"
There are definitely cases where The Market doesn't magically fix things and regulation needs to be introduced to prevent bad behaviour (or encourage a societally beneficial behaviour).
However in this case with the high cost of electricity in Europe right now, isn't crypto-mining similar to lighting money on fire? I can't imagine it's profitable in many European countries, if any.
> However in this case with the high cost of electricity in Europe right now, isn't crypto-mining similar to lighting money on fire?
Miners sometimes sign long-ish-term contracts for energy.
I live in Europe and the measures my county is taking to combat energy shortage are pretty wild like limiting the heating of apartments, indoor swimming pools, reducing street lighting, but nowhere was is stated "banning crypto mining".
Pretty insane how we're just tolerating this massive energy waste just so some people and organizations can have something to speculate on for money.