Using this logic, dollars are creating value by wasting paper and metal. What you're ignoring is the value of having a publicly auditable ledger of transactions

Using this logic, dollars are creating value by wasting paper and metal. What you're ignoring is the value of having a publicly auditable ledger of transactions and a decentralized currency. That _isn't_ a waste of electricity. There are plenty of reasons to be skeptical of cryptocurrency; this just isn't a good one.