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

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

#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 generated with hydro?

Electricity is largely supplied by the Inguri hydroelectric power station located on the Inguri River between Abkhazia and Georgia

there's even a study on Electricty consumption, if you really want to dig deeper into it. [2].

[0]: https://en.wikipedia.org/wiki/Abkhazia

[1]: https://en.wikipedia.org/wiki/War_in_Abkhazia_(1992%E2%80%93...

[2]: http://iccn.ge/files/energy_study_results_abkhazia_2019_eng_...

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

#7

Bitcoin is so inefficient that it is hilarious that people complaining about the environment also buy bitcoin. If you want to buy into crypto at least go for ethereal

Ethereum is as inefficient as Bitcoin, just at a slightly smaller scale.

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

#8
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

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

#9
post #5

How does the network protocol of bitcoin work? Would governments be able to block it? Can it be DDoS-ed?

Without knowing for sure, I think you could just block port 8333. The individual miners could surely be DDoS, if you know their IP.

I wonder if it's possible to just generate junk transactions and throw them at miners.

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