Earlier quoted context omitted.
No. Role of government is to provide minimum standard of living for general population. A lot of people will freeze in Kaza, as basic necessities are a huge part of their monthly budget and price hike is too severe to handle. "Let market sort itself" only works if government thinks about it in advance, have fair elections, low corruption, etc. Cost of natural gas / coal / oil is going up significantly and is a huge p…
This is such a bizarre comment given the history of price controls and their horrendous outcomes.
Kazakhstan to restrict crypto miners amid power shortages
11–20 of 361 posts
Re: Kazakhstan to restrict crypto miners amid power shortages
#12Wouldn't it make more sense to just let the price of electricity go up?
Re: Kazakhstan to restrict crypto miners amid power shortages
#13Wouldn't it make more sense to just let the price of electricity go up?
Maybe it would make more sense to you, but not to most people I think. Electricity has much better uses than cryptocurrency.
Re: Kazakhstan to restrict crypto miners amid power shortages
#14Re: Kazakhstan to restrict crypto miners amid power shortages
#15Wouldn't it make more sense to just let the price of electricity go up?
Re: Kazakhstan to restrict crypto miners amid power shortages
#16Wouldn't it make more sense to just let the price of electricity go up?
Re: Kazakhstan to restrict crypto miners amid power shortages
#17Wouldn't it make more sense to just let the price of electricity go up?
Only if you want miners to have power and residents to be without it. Capitalism is not the cookie cutter solution to all problems.
Re: Kazakhstan to restrict crypto miners amid power shortages
#18Cryptos = suck that energy out of the power grid to gamble with one another.
Re: Kazakhstan to restrict crypto miners amid power shortages
#19Wouldn't it make more sense to just let the price of electricity go up?
As far as I can tell cryptocurrency's value comes from how much it costs to mine the currency. So that would just affect everyone who isn't mining currency since the miners just offset their costs by selling.
Re: Kazakhstan to restrict crypto miners amid power shortages
#20Wouldn't it make more sense to just let the price of electricity go up?
No. Role of government is to provide minimum standard of living for general population. A lot of people will freeze in Kaza, as basic necessities are a huge part of their monthly budget and price hike is too severe to handle. "Let market sort itself" only works if government thinks about it in advance, have fair elections, low corruption, etc. Cost of natural gas / coal / oil is going up significantly and is a huge p…
They would've gone bankrupt if they didn't do it with their weather (-40<C°)