Shutting off crypto mining operations isn’t the only measure that countries facing.
An energy crisis will take however Germany, France and apparently others are in the process of nationalizing their energy Industries.
The assumption is that this will lower the cost of energy since the government doesn’t need to make profits like private companies – do this is because it can just take whatever money it needs by force in the form of taxes or printed out of thin air with the help of its compliant Central Bank.
While nationalization May in fact lower energy costs it’s not clear how much of an impact it will have given that high energy costs we have today are a supply.
Side issue nationalization won’t make it possible for governments to print oil and gas – the only option for these governments is to get their hands on some oil and gas ASAP or else some of their citizens could freeze to death at the very least it will lead to wide-scale social unrest which could destabilize countries and even entire regions.
Now instead of exploring oil and gas many European countries are turning to price caps to bring costs under control.
This is very dangerous if not outright stupid because setting a cap on prices basically makes it impossible for the market to balance supply and demand.
History suggests that price caps will result in shortages of the goods or services in question.
That’s because instead of conserving energy in the face of higher costs citizens will continue to use energy as normal due to the price cap and because there actually isn’t enough energy, the energy will run out.
If that wasn’t bad enough nationalization price caps and other such measures will inevitably lead to the extreme centralization of the energy grid.
This could eventually put governments in total control of energy use in their countries especially if everything is being powered by electricity.
If this comes to pass it could become impossible to secure a proof of work blockchain like Bitcoin because the grid would automatically block BTC mining, this would of course be on the grounds.
That crypto mining is bad for the environment or just not worth the energy use as the cryptocritics argue has.
A cherry on top your ability to do everyday things like use your computer or watch TV could be regulated by so-called smart grid Technologies.
Note that Apple recently introduced a quote clean energy charging option to only charge iPhones when renewable energy is being used.
That’s almost as scary as smart thermostats changing the temperature of your house against your will.
This again literally happened in Texas over the summer and it’s something that could soon find its way to other states and countries as well not very smart if you ask me.
