We’ve contemplated many dooms for humanity: climate change, asteroids, gamma ray bursts, but surely the greatest irony would be a global energy catastrophe driven by Bitcoin.
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It would be fair to compare to other traditional methods of storing and transfering 200+ billion dollars
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What a staggering waste of energy.
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Does this end when all of the bitcoin has been mined, theoretically?
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Maybe? It's all driven by the expected mining revenues which is: price x (fees + minting) minting is the lion's share right now, but will halve every ~4 years over the next century. Fees are already going up. price is the dominating factor in that equation right now though
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This is an important way in which Bitcoin’s value as a public good is dramatically undercut.
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renewables do not have 24/7 up time so it's not apples to apples comparison. Also it slows carbon reduction efforts.
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