Isn't that just going to bid up the prices for everything else? Historically, su... | Hacker News

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		caf on Jan 5, 2022 \| parent \| context \| favorite \| on: Kosovo bans cryptocurrency mining to save electric... Isn't that just going to bid up the prices for everything else? Historically, subsidising electricity has worked fairly efficiently, because it wasn't possible to effectively store and re-sell or export it.

GabrielBen on Jan 8, 2022 [–]

1. No

2. It has always worked the same: people arbitrage the subsidy by doing energy inefficient labor. Bitcoin mining is just a more efficient arbitrage mechanism.

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