1. We crossed the line on climate change. We need to stop wasting co2 for everything not critical to us and need to start investing and incentivcing green things.
2. I heard this argument often enough and blindly repeated: bitcoin will always optimize for the cheapest energy. Right now it co sums coal energy and it takes away green energy.
There is also no incentive for any Bitcoin miner to invest in green energy. Why would they? If they would it would mean laws make it that they have to because green energy would be the cheapest one. And then they would still consume all of this green energy because that's what bitcoin consumes: Energy.
The only thing left is heat. Heating with energy is the worst way of heating. Heating through thermal energy is more efficient.
Bitcoins value is decoupled from the energy sector. The incentive of burning co2 for money is much higher than what the energy market is optimized for.
Our energy market is often subsidies because people NEED energy.
Guess who wins in rural china? Bitcoin mining or a light bulb for a kid to learn in the evening? Come guess
We don't have storage so it's not enough to get to 100% renewables. We need to get to 1000% production so off peak production will fullfill all our needs. And they need to have a way to get paid for the excess.
Price of energy will be dictated by price of bitcoin, and government will subsidize energy sale to residential consumers so they can afford energy. Commercial ventures will pass the additional energy cost to consumer in prices of goods.
It will all land at equilibrium where mining is only profitable when done with excess energy.
Suddenly, thanks to crypto, investing into energy generation capacity becomes naturally profitable business.