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>And it reduces the world's energy bill by 0.5% I live in Europe and the measures my county is taking to combat energy shortage are pretty wild like limiting t
by ChuckNorris89 4y ago
>And it reduces the world's energy bill by 0.5%
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.
- Tenoke 4y agoPlaces with issues at that level aren't really where much mining is happening.
- ChuckNorris89 4y agoSure, buit the energy crisis is a global issue. And you can't solve global issues using local solutions.
- ikt 4y agoI 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.
- pvigilo 4y agoNo 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"
- smcl 4y agoThere 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.