Communists Try Banning Bitcoin Mining In Norway

(Graphic courtesy of Futurypto News)

The Communist Party of Norway tried banning Bitcoin mining in Norway. 

No surprise, communists aren't big supporters of a decentralized free-market monetary system or making Bitcoin legal tender. 

Fortunately, they were unsuccessful and the Norwegian Parliament defeated their proposal (source).

The Socialist and Green parties also joined forces with the Communist Party out of concerns about the environmental impact of Bitcoin mining.

There is a fundamental misunderstanding of Bitcoin mining's effect on the environment and what it means for the world. 

Simple everyday activities FAR outpace the energy use of Bitcoin mining AND miners are strengthening our power grid. 

As an example, Bitcoin miners in Texas helped stabilize the power grid during a winter storm in 2022. Here is the story: 

Instead of banning Bitcoin mining, countries would be wise to identify methods to leverage Bitcoin's energy to stabilize local power grids and make use of excess energy that is either wasted or stranded in rural parts of the world. 

We applaud Norway's rejection of the Bitcoin mining ban and hope the commies can learn a thing or two about Bitcoin! And maybe read a book about free markets...