Re:Bitcoin is an Energy Hog
by patagonia on Wednesday December 27, 2017 @05:10PM
(#16018474)
The market does not say it is "ok". It merely describes, in terms of USD, the amount of electricity and other resources utilized by Bitcoin. The market is amoral.
[ Parent
| on HN ]
I didn't read the GP ascribing morality into that statement. They're simply saying that the energy consumption is a market effect -- if it wasn't in the miner's self-interest to mine, they wouldn't.
I read it the same as you, except I hate that line of reasoning to hand-wave things away.
Let us assume a perfectly rational market... should preface all of these statements. That way it triggers us appropriately like "Assume an infinite plane" does.