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Absolutely terrible article. The argument is "Bitcoin uses energy, but Bitcoin does something useful, so that energy is not wasted", only longer. That argumen
by twic 6y ago
Absolutely terrible article.
The argument is "Bitcoin uses energy, but Bitcoin does something useful, so that energy is not wasted", only longer.
That argument is incorrect, because there are alternatives to Bitcoin which do the same things, but use much less energy.
I, personally, would argue that those alternatives include normal money. But even if you don't agree, you must accept that other cryptocurrencies are alternatives, and there are are several that are much more energy-efficient than Bitcoin. I note that the word "Ethereum" does not appear anywhere in this article.
The article is longer than this comment because it is padded out with bog-standard crypto-libertarian economic illiteracy on parade, so if you enjoy that, do click through!