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It’s almost like we thought that coal- and nuclear- shaming was all the planning that we needed to switch to renewables and avoid an energy crunch. We mock Bit
by politician 5y ago
It’s almost like we thought that coal- and nuclear- shaming was all the planning that we needed to switch to renewables and avoid an energy crunch.
We mock Bitcoin, but China isn’t just shutting down Bitcoin, but also its steel and aluminum foundries, its semiconductor fabs, and adjacent industries to cut power demand. They need to limit blackouts during winter to stave off popular uprisings.
- anm89 5y agoHadn't connected the Bitcoin ban to the power shortages but in retrospect it seems obvious
- themaninthedark 5y agoDo you have a source on that? Not that I doubt it but if that is true, then we will see some serious market issues in the near future. Steel is already high and the chip issues are bad too.
- politician 5y agoNasdaq Sept 2021 Steel, Al, Cement https://www.nasdaq.com/articles/chinas-yunnan-imposes-output-curbs-on-aluminium-steel-cement-makers-2021-09-13 https://www.nasdaq.com/articles/chinas-yunnan-imposes-output... Reuters Sept 2021 Electrical Components https://www.reuters.com/technology/many-apple-tesla-suppliers-halt-production-china-amid-power-pinch-2021-09-27/ https://www.reuters.com/technology/many-apple-tesla-supplier... Reuters Oct 2021 Consumers to see increased energy prices https://www.reuters.com/world/china/china-liberalise-thermal-power-pricing-tackle-energy-crisis-2021-10-12/ https://www.reuters.com/world/china/china-liberalise-thermal...