hajisatoshi on Nostr: # 9: Bitcoin’s Energy Debate — Mises’ “Human Action” & the Value of Secure ...
# 9: Bitcoin’s Energy Debate — Mises’ “Human Action” & the Value of Secure Money
💡 Key Idea: Bitcoin’s energy expenditure reflects purposeful human action — a trade-off for decentralized security and sound money. Markets, not bureaucrats, decide if this cost is justified.
🌍 Real-World Example:
Global banking consumes 650+ TWh/year (2x Bitcoin’s usage), while gold mining burns 265+ TWh. Yet Bitcoin secures $2T in value without bailouts or centralization. Meanwhile, the majority of Bitcoin mining uses renewables (hydro, wind, flared gas) — turning waste into economic resilience.
📜 Austrian Connection: Ludwig von Mises’ “Human Action” argues value is subjective: individuals allocate resources based on their priorities. Bitcoin miners choose to spend energy because the market rewards their work with BTC. Critics who deem this “wasteful” ignore Mises’ insight: value isn’t dictated by planners, but revealed through voluntary exchange.
⚡ Why It Matters: Centralized systems hide their true costs (e.g., inflation, bailouts, war-driven oil dependence). Bitcoin’s energy use is transparent and productive — converting electricity into unconfiscatable, apolitical security.
🔍 Food for Thought: If Mises defended “costly” gold mining as essential for sound money, would he see Bitcoin’s energy use as the digital equivalent — a market-driven safeguard against monetary tyranny?
#Bitcoin #AustrianEconomics #MoreEnergy #Mises
Published at
2025-02-13 13:49:25Event JSON
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