i dont follow. moving from cpu to gpu to fpga to asics (each a gain in efficiency) did not reduce electricity consumption, because it in effect accelerated the

i dont follow. moving from cpu to gpu to fpga to asics (each a gain in efficiency) did not reduce electricity consumption, because it in effect accelerated the rate at which the hashing complexity was raised by the network, in effect negating up any efficiency gains. that's exactly the phenomenon.