> And the grounds are that the system is designed in a way that you literally make money burning electricity, so as long as electricity is cheaper than payoff s

> And the grounds are that the system is designed in a way that you literally make money burning electricity, so as long as electricity is cheaper than payoff somewhere (or you can steal some), there's strong incentive for everyone to try and burn energy. Which increases energy costs until that profit gets small. As long as there is a more valuable use for energy than getting a 0.1% profit mining Bitcoin, I don't see why mining would ever consume all energy, that's ridiculous.