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"Pakistan launches nation’s first strategic Bitcoin reserve" was the news everywhere last week. But there was no news regarding why Pakistan still holding ban on Bitcoin? Another news was "Pakistan will allocate 2000 MW electricity to Bitcoin Mining". It was however still unclear that Pakistan was only interested in Bitcoin mining or it's going pro crypto. But the real question is from where will Pakistan get 2000 MW of surplus power while it doesn't even have enough to light up all its big cities, leave alone lighting up the towns and villages?
Here's a report on Pakistan's power problems:
With power demand at about 14,680 MW and current supply at 10,200 MW, the power supply shortage stands at 4,480 MW, which provides fertile ground for social and economic chaos.
And the same has been asked by IMF
The announcement, however, has triggered a strong response from the IMF, which has reportedly sought urgent clarification from the Finance Ministry over the legality of the move and the electricity allocations—especially as the country faces chronic energy shortages and fiscal constraints.
I think Pakistan is again professing a propoganda to woo shitcoin friendly Trump.
It is possible to have energy shortages in big cities and surplus power generation in other regions. Theoretically you could monetize the surplus power generation you have by mining bitcoin and then reinvest in increased power generation in energy starved areas. Not saying that is what is happening here but it is plausible.
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It is possible to have energy shortages in big cities and surplus power generation in other regions.
Yes you're right but from what I've been hearing from neutral and even Pakistani media, the power problem of Pakistan is much bigger than shortages or surpluses. There are places which still lack of good infra and there's little scope to create new power plants as Pakistan don't have many water sources. So promising a 2000 MW is an exaggeration imho.
Besides, there's this report which is from a neutral media confirms the power crisis.
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12 sats \ 0 replies \ @Grateful 22h
Well done Pakistan. Fuck off IMF.
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If they implement it well, Bitcoin mining can help DECREASE the nation's energy shortages.
Bitcoin > IMF for any country with a brain.
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IMF be on it! Haha crazy
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