In layman's terms:
Bitcoin's borderline-fraudulent use of energy will be able to /fix/ the energy that was spent in mining new coins, and the dirty deed can be forgotten.
Except you can't so easily forget damage to the environment!!
Bitcoin's borderline-fraudulent use of energy will be able to /fix/ the energy that was spent in mining new coins, and the dirty deed can be forgotten.
Except you can't so easily forget damage to the environment!!
Cargo ships cause more pollution than all the cars on earth, yet we are told to drive less but the cargo ships keep coming, keep getting bigger and keep polluting. Stopping/Reducing them would mean we can't consume cheap goods so a blind eye is turned, to an easier target, Bitcoin.
If everyone who I heard complain about the inefficency of bitcoin were also protesting Mcdonalds, Shell, Texaco, Amazon etc it might actually have some merit but until then I feel free to ignore the green virtue signalling.
I have enough time and energy to criticize both mega cargo ships and Bitcoin for their unnecessary pollution.
Also, if we banned Bitcoin tomorrow, the only people who would really notice are those who have bet their shirts on a risky investment. If we banned large cargo ships tomorrow, everyone would feel it as delivery times (and possibly prices) for things increased. Personally, I'd be willing to pay those higher prices in exchange for less pollution.
Probably because, as you point out, there’s a lot of money and companies in those other industries. And those industries would rather not make headlines for negative environmental, or other, reasons. (Legal apparatus, lobbyists, etc etc)
But when investing how much an investment makes absolutely isn't very interesting. All that matters is opportunity cost, or how one investment compares to all of the others. You want to make the best investment for the right amount of risk - and this is going to always be a gamble because it is highly uncertain.