Curiously, this energy hunger is driving decentralization despite the otherwise inevitable benefits of scale.
There is no such thing as "wasted energy". The fact that cryptocurrency mining exists means there is load on the grid, which needs to be given supply. If that load/demand goes away, then the supply can be reduced or shutdown. I.e., if there is no demand the power would not be generated in the first place.
Your argument's basis is detached from reality: https://orientalnewsng.com/global-gas-flare-heightened-by-15...
Thankfully, there are market participants who are capturing this previously-wasted energy and putting it to use: https://hashrateindex.com/blog/flared-gas-bitcoin-mining-101...
And in 2022? In 20221?
How about the miners that are using coal plants?
* https://www.theguardian.com/technology/2022/feb/18/bitcoin-m...
* https://www.indystar.com/story/news/environment/2023/12/05/c...
Is that using "wasted energy"?
This makes the only acceptable energy for Bitcoin to morally use be self-generated, clean, and has no impact to you whatsoever. A failure to recognize this fundamental belief will always lead to you belaboring your point. The only thing I can leave you to think about is whether you truly believe Bitcoin is the biggest "waste" of energy for you, or why there aren't as many conversations about the consumption of the rest of the 99% of energy demand (the CBECI estimates Bitcoin took about 0.1% - 0.9% of global electrictity demand[1]).
There are two different points:
* Bitcoin is useful in some way
* Bitcoin 'soaks up' energy that would otherwise be "wasted"
In this thread I am saying there is no such thing as "wasted energy" (regardless of the pros and cons of Bitcoin).
And even if mining used only energy/electricity that would otherwise be "wasted", so what? If cryptocurrency mining was never invented in the first place, the energy production would be curtailed because it wouldn't be needed to begin with, and there would be no net loss.
So the production of some (unneeded) energy is curtailed, so what? Not needing energy in the first place is hardly a hardship on society (and the environment).