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0 sats \ 5 replies \ @Satosora 7 May freebie \ parent \ on: What is it like to live in Venezuela currently? Current economy econ
Plus it is pretty easy to move bitcoin and make it disappear.
I thought with their unlimited energy, there wouldnt be a ceiling?
A price ceiling means that it's illegal to sell electricity above a certain price. Even the most resource rich places, still have a limited energy supply.
When the price is held down artificially, energy intensive activities will expand to take advantage of the lower prices.
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At any given moment there's a finite amount of power being generated from hydro plants, even if they were to produce energy indefinitely.
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There's no such thing as "what they need". At any given price there's a quantity that will be economical to use (demand) and an amount that will be economical to produce (supply).
When prices are artificially suppressed demand > supply, which means there's a shortage.
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