Don't expect it. There's always some get-rich-quick scheme, or another research-this-investment idea. Something always fills the void. Bitcoin is just one of the biggest we've seen since everyone and their dog were buying shares / penny stocks.
Most pyramid schemes do not require massive amounts of energy.
That's what gives this scam substance. Easy to dismiss with "iT iS bAcKed bY eLeCtRiCiTy sPeNt".
Nah, it'll be used for "Uber for X in the metaverse".
Hopefully with interest rates rising less stupid money will be available and we can reorient efforts towards things of values and needs.
You know if we collectively insist on it. We gotta all say no to bullshit somehow.
Yeah I said no to Google & Facebook a long time ago.
Apart from the energy that has been wasted, it really pains me to think how much fab time, chemicals, wafers, etc. have gone into producing ASICS that just perform pointless busy-work… I wish at least mining rigs were useful for anything else…
This comment is smug and offers nothing to the discussion.