You want to know what's insane? https://en.wikipedia.org/wiki/Energy_usage_of_the_United_Sta....

So, because the DoD uses a lot of energy, we should be okay with the energy a speculative asset consumes?

you should be ok with market participants paying market price for a finite resource sold on a market.

Why? This is not a free market, nor a market price that reflects externalities of generating that energy. I'm not okay with 0.5% of the earth's energy being consumed to produce sha sums for the sole purpose of mining speculative assets.

market is definitely not free at this point because of how much subsidy fossil producers receive from corrupt politicians.

doubly funny your worries about externalities, when bitcoin actually meaningfully drives renewable production that is going to be essential in reducing those externalities.

> not okay with 0.5% of the earth's energy being consumed to produce sha sums for the sole purpose of mining speculative assets

packed as much manipulation and misinformation as you could into that one, didn't you?

i'm more than ok with significant chunk of energy's energy going into ensuring security of a global decentralized settlement layer and currency with predictable issuance policy that can't be fucked up by politicians that suddenly realize they need to print a couple trillions to cover up how much they stole.

> when bitcoin actually meaningfully drives renewable production that is going to be essential in reducing those externalities.

I am so sick of this bs argument from bitcoin apologists. Cryptocurrencies drive renewable energy in the same way lung cancer drives chemotherapy drugs.

It doesn’t matter if renewable energy is built if that new energy is being wasted on cryptocurrency instead of replacing fossil fuel energy for something else.

> It doesn’t matter if renewable energy is built if that new energy is being wasted on cryptocurrency instead of replacing fossil fuel energy for something else.

yes it absolutely matters, because expanding the market of energy with renewable energy is unquestionably better than expanding it with fossil producers. bitcoin difficulty fluctuates with uncertainty in politics, demand for security and demand for the asset itself. when difficulty goes down - freed up energy can be used by other market participants and that will hurt profitability of fossil producers.

this is not bs argument, it's reality.

also, "energy is being wasted" is your subjective understanding.

Doesn't seem insane to me at all. When you think of the size of the organization and the tasks it does. We're talking several million people, infrastructure and logistics, and a plethora of hightech vehicles.

How much of the world’s energy do you think the petrodollar system consumes?

That energy has output besides random hashes.

Can you send me some of these random hashes? Since they're worthless?

Bitcoin secures over a trillion USD. 1 in 6 Americans own Bitcoin and user growth is faster than the rise of the internet and Facebook combined. Companies/Wallstreet are in, VCs are in, the first country has used it as a legal currency.

And yet you're still on this 12 year old narrative that it's worth zero?

>Can you send me some of these random hashes? Since they're worthless?

WKRQE0GD2T074CCH6ZOH5DYFI4TX3RMEIKHS7AWEUVYEH030GA1B36U8C1L4OWEC

5DYFI4TX3RMEIKHS7AWEGEALOI1LNLZLHKGQ2I8MJEU1XAAQPRG5MUYXXNFR9QRQ

W1T7OR1UZ20L6MAXB202PWTN0YQR4IXZ851CS6LB1HUL7AALT9Z8K1OZW7FIK9IS

Y112I5BI0RQ04G6LS1XZ3V4C6CY5G97IOYQ0EJSLRQ6CK4ZGCMNXHH2O3NQQ4RVK

XEIKU2MHPTOQOBPG3TCT09SBPGKR0WZ0UX119IBBBB0HORXV1F0YNF18ADQHE21I

Go wild

I meant privately, now my wallet is leaking.

Where is this 1 in 6 figure coming from.. that doesn't sound right at all.

Admittedly, the stats are not fully consistent. This is due to the fact that it's hard to conclude on actual human users based on the amount of wallets. I've seen reports saying 1 in 6, 11%, and there's this report:

https://explodingtopics.com/blog/blockchain-stats

...which states 22% of US adults. If you select for a somewhat younger population (non-boomers), it's even 33%.

So I think the point stands, whether you pick the lowest or highest number amidst these studies. Bitcoin/crypto is far more widespread than some people think.

a global p2p payment network has value.

If people were using Bitcoin for that purpose I might agree.

So does a vehicle yet taking a private plane to the shop might be excessive.

Like bombs?