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Kosovo Joins The Bitcoin Mining Ban Train

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It seems their hottest new geopolitical trend is to ban bitcoin mining from your country. We've seen China do it, Russia is flexing their muscles on it, the EU are looking to ban mining, and while most of it is still talk we've seen the nation of Kosovo ban the mining of bitcoin. Citing the reason that it is energy-intensive and the ban will curb electricity use as the country grapples with an energy crisis caused by soaring global prices.

Bitcoin mining is energy-intensive

We know this, we know bitcoin mining requires more energy to maintain the network, and the banning seems to be an easy scapegoat or a villain to lay the blame on. Instead of the country's authorities being honest and saying their incompetence in not scaling up their energy production and allowing them to be exposed to shortages has put a strain on their ability to provide energy for the nation.

While the whole of Europe faces sharp price rises, Kosovo is enforcing rolling blackouts to deal with the local electricity shortage. The Balkan state's biggest coal-fired power plant was shut down last month due to poor maintenance and technical issues, forcing the government to import electricity at high prices.

A 60-day state of emergency declared in December, gave the government powers to steal more money from their citizens so they can pay European energy oligarchs for overpriced energy imports and impose stricter restrictions on power usage.

Bitcoin mining bans are an attack on property rights

Now a country can do what it wants, and you can leave if you don't like it I suppose, but to me, it is an unconstitutional stance. If I own a piece of property I should be able to do what I want with the property and the energy I purchase as long as that doesn't harm others.

Banning bitcoin mining may seem "rational" but where does it stop? Why don't we ban pool pumps, or airconditioning or washing machines, and even kettles? Their energy usage is far less efficient and far more wide spread, so why don't we just make people's lives worse.

Living in a country where we are known for rolling blackouts I know the deal first hand. If you cannot produce electricity for your citizens, it's not up to you to curb them. It's up to you to get out of their way and allow private companies and individuals to generate their own, something governments don't seem keen on.

Energy distribution and energy independence seem like concepts they do not want to entertain. Even in a country like South Africa where we have tonnes of sun, even if you spend a small fortune to go off-grid, they still want you to pay taxes and pay levies for not using their service.

I know how restrictive governments can be on their citizens in the name of the "greater good".

Bitcoin miners are energy buyers

I don't know why people have this assumption that the energy bitcoin consumes is a bad thing. Bitcoin miners PAID for it, they went to a producer, the producer set the price and paid the bill.

That's how economic transactions work, the fact that some people cannot afford as much energy as in previous years is not down to bitcoin. It's down to poor planning and malicious debasement of the currency.

Bitcoin only exposes the clown world in all its glory and the mental gymnastics used to save face is hilarious.

Small fries get no prize

Now Kosovo isn't exactly a mining giant by any means, so their elimination of hash power isn't really going to affect the network. Sure having another fud piece feather in the cap is great for naysayers to point towards but other than robbing locals of the opportunity to compete for stateless money, I don't see much of an issue here.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, "I am a Jessie."

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