i should be smarter than to argue with bitcoin maximalists about the energy intensity of bitcoin, but seriously, technologists, the industry has a problem with energy usage *even at this scale*. if it 'actually' scaled to replace everything it would be catastrophic.
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i will admit i am having a hard time justifying any simple scaling law for fees institutions outbidding each other in order to get their transactions completed ultimately fees pay for energy, how does it scale with demand? demand goes up, supply fixed: price goes up with L2?
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seperately, if more people use Bitcoin more heavily as a store of value to HODL, even in this mining phase, that bids up the Bitcoin price, and thus energy usage. the block rewards half every 4 years — if BTC price doubles in 4y rewards won’t dwindle in value...
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