Bitcoin miners in Abkhazia are causing blackouts in remote villages [video]

Post by f311a » Fri, Mar 12, 2021, 10:53 AM UTC

WanderPanda wrote: post #8

f311a wrote: post #2

Electricity there is very cheap (ranging from 0.5 to 1.5 US cents per kWh). The government has closed around 300 mining facilities in order to reduce energy shortages. There are tens of such videos on the Youtube channel.

Instead of trying to remove the symptoms, the government should focus on increasing their peoples productivity to put them in a position to pay higher electricity prices

Post by theragra » Fri, Mar 12, 2021, 10:55 AM UTC

simonebrunozzi wrote: post #6

I've never heard of Abkhazia before, so I had to look it up. It's a partially recognized state, part of Georgia [0]. There's even been a war in 1992-1993, after the collapse of the USSR [1]. Sometimes I'm still surprised of my ignorance about important facts that happened during my lifetime. Anyway, the next question for me was: why is electricity so cheap there, and should I assume it's cheap 24/7, and therefore gen…

Post by ArkanExplorer » Fri, Mar 12, 2021, 11:01 AM UTC

NullPrefix wrote: post #15

ArkanExplorer wrote: post #11

Earlier quoted context omitted.

No, the Government should petition bigger Governments to regulate (/ban) what is clearly a waste of Earth's and Humanity's resources.

Are you talking about capitalism in general or just some specific activity?

Post by Nextgrid » Fri, Mar 12, 2021, 11:11 AM UTC

f311a wrote: post #2

Electricity there is very cheap (ranging from 0.5 to 1.5 US cents per kWh). The government has closed around 300 mining facilities in order to reduce energy shortages. There are tens of such videos on the Youtube channel.

Post by saagarjha » Fri, Mar 12, 2021, 11:19 AM UTC

Nextgrid wrote: post #18

f311a wrote: post #2

Electricity there is very cheap (ranging from 0.5 to 1.5 US cents per kWh). The government has closed around 300 mining facilities in order to reduce energy shortages. There are tens of such videos on the Youtube channel.

This seems like the wrong approach. I don't see how closing large-scale mining facilities will suddenly solve the problem. As long as the energy remains cheap, mining will just move underground. I could see miners offering ordinary villagers kickbacks to "host" a few miners on their premises as to conceal the energy consumption behind what appears to be legitimate usage.