a source familiar with the matter on Nostr: "I dug a hole, GDP must go up" "I wasted electricity, this ledger entry must be ...
"I dug a hole, GDP must go up"
"I wasted electricity, this ledger entry must be valuable"
More begging the question (assuming the thing you are supposedly arguing for).
If Bitcoins were valuable, the energy cost would be a constraint on their supply. If Bitcoins were not valuable, the energy cost would be just a further element of waste.
You might insist (rightly) that Bitcoins enjoy a market value above zero. So does the US dollar. So did Enron. So did FTX.
"I wasted electricity, this ledger entry must be valuable"
More begging the question (assuming the thing you are supposedly arguing for).
If Bitcoins were valuable, the energy cost would be a constraint on their supply. If Bitcoins were not valuable, the energy cost would be just a further element of waste.
You might insist (rightly) that Bitcoins enjoy a market value above zero. So does the US dollar. So did Enron. So did FTX.