- A invoice searching for to ban power intensive mining for cryptocurrencies like bitcoin was struck down by the Norwegian parliament on May 10.
- The communist Red Party who authored the invoice was supported by each the Green Party and Socialist Left occasion.
- The minority additionally tried to create an electrical energy tax for power intensive cryptocurrency miners.
A Bitcoin invoice searching for to eradicate power intensive cryptocurrency mining was rejected in Norway with a majority vote handed by the Norwegian parliament on May 10, in accordance to a translated report from native newspaper E24.
The proposal surfaced earlier this March by the Red Party (Rødt) which fashioned in 2007 from a merger between the Red Electoral Alliance and the Workers’ Communist Party. The Red Party outlines certainly one of its main objectives as reaching a classless society, and was supported by the Socialist Left Party and the Green Party.
“We are obviously disappointed with the majority here. In the future, we will electrify large parts of society. If we do not want to carpet Norwegian nature with wind power, we must actually prioritize what the power is to be used for,” Rødt’s Sofie Marhaug stated to E24.
Marhaug continued to cite a necessity to prioritize power utilization by means of what can be commonplace central planning for far-left political events. In truth, at one level the Rødt occasion tried to cost bitcoin miners a fee on-top of ordinary power market costs.
Ordinary households, corporations and the general public sector pay an electrical energy tax of $2.51 per kilowatt hour, the business has a lowered electrical energy tax of round $0.07 per kilowatt hour.
“But it seems that the majority in the Storting will leave the priority to the market, and give the bill to Norwegian electricity customers,” Marhaug reportedly stated.
The majority on the opposite facet of the matter reportedly stated that it is “in principle questionable to discriminate against data centers on the basis of a politically defined societal benefit.”
Those against the ban discussed a lack of confidence in authority reportedly stating “It is no coincidence that cryptocurrency skilled a selected upswing within the wake of the monetary disaster in 2008, when confidence in nationwide and worldwide banks and monetary establishments was at a backside degree.”