[ArkanExplorer]

Bitcoin allows you to effectively arbitrage electricity price differences between the West and the developing world.

Which previously would require some kind of capital intense activity like Aluminium Smelting - which at least would promote development of local infrastructure, industrial capacity, and skills.

Bitcoin mining does none of that - local efforts to make electricity more affordable for local usage and business (ie. subsidies) are basically monetised.

In addition many countries like India have problems with illegal electricity usage. The shortage of GPUs and general computer chips (how much of TSMC output goes towards mining machines?) is also negatively impacting supply chains, particularly for countries at the very end of them.

Crypto mining is hugely disruptive and harmful to developing countries, and these bans are completely justified.

I understand that the US and other Western fiat currencies are being run into the ground to fund pension obligations - but you can just buy Apple or other blue-chip stocks if you want a long-term asset.

[tholex]

Additionally, in places where there's loads of green energy, crypto mining captures excess energy and discourages innovation in energy storage.

Rather than electricity prices being driven down by more green production and storage, there's this floor where it's better to just convert the energy into blockchain coin flips and heat.