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> Pricing electricity so low that bitcoin mining is profitable during peak hours is absurd. Electricity is not just a discretionary commodity, it serves an ess
by geertj 5y ago
> Pricing electricity so low that bitcoin mining is profitable during peak hours is absurd.
Electricity is not just a discretionary commodity, it serves an essential need enabling our modern society. It makes no sense to increase electricity prices and hike up inflation for the common person in an effort to dissuade crypto miners. If we really wanted to go that way, a better solution IMO is to introduce two electricity rates, one for things that perform useful services (by broad positive impact to society) and one other for PoW crypto mining.
- scotty79 5y agoIt's not to dissuade bitcoin mining. It's to move us away from emitting carbon as fast as possible. Crypto is just sideshow. Carbon emission are not priced according to their future impact. We need to price it correctly. And it's better to overcorrect rhan undercorrect. The only downside is that this pricing will propagate into the economy (as it should). When it reaches people that can no longer afford to live we can prevent them from dying by giving them money we got from tax.