@koreymoffett Bitcoin is a brilliant proof of concept. Its algorithmic inefficiency, however, means it's controlled by the wealthy by its very nature, and wastes tremendous amounts of resources.
Also, "wastes" energy by creating hardest money ever, as opposed to military-idustrial-complex-based fiat (measure it's "waste").
Miners has incentive to use cheapest electricity, starting to use vented gas:
Some more context:
Also, some very important #bitcoin use cases:
@Talkless @koreymoffett Bitcoin miners have literally bought coal-burning power stations that were being decommissioned. The incentives are for them to use the cheapest electricity that's available to them, which is usually fossil fuels without any externality reduction.
And yes, it wastes energy. Bitcoin isn't money, because money's accepted value doesn't change orders of magnitude in a day whenever Elon Musk tweets something.
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