Yeah, this makes sense. I guess the issue I have is such a tiny minority of people are using such an excess of energy to do something that adds very little val

Yeah, this makes sense. I guess the issue I have is such a tiny minority of people are using such an excess of energy to do something that adds very little value to society. Even if the value of bitcoin is subjective, there's still a tiny minority of people consuming vast amounts of energy to derive what value it does bring them. It just feel disproportionately harmful at a time when our top scientists are blue in the face from telling us to reduce carbon emissions. I understand that it's not my place to judge what people derive value from. I also would argue that energy should be neutral (similar to my views on internet access). I guess my biggest gripe is probably something you and me share in common: the understanding that market mechanisms allowed this waste to happen in the first place. So you're definitely not wrong, and your argument about externalities is well-taken.