I agree. The big change in bitcoin is that it is a way to literally change energy into capital without doing a damn thing in any other way, or benefiting any human being, or anything else on the planet.

It's literally waste heat from conversion of energy that could do some good, into numbers controlled by rich people. We might do better to just say outright 'all rich people, you now have twice as much money just for being you' and use the energy elsewhere… or use less and avoid cooking the planet.

In practice this is a dumb, bad idea even if you stand to benefit.