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> Even arguments about renewable energy being used to mine BTC are moot, because they don't consider the opportunity cost of what could be done with all that en
by olalonde 6y ago
> Even arguments about renewable energy being used to mine BTC are moot, because they don't consider the opportunity cost of what could be done with all that energy instead.
That argument itself is not great either because it assumes the fixed pie fallacy.
- cromwellian 6y agoA growing pie doesn't refute the opportunity cost argument. Even if you grow the energy supply, you have to consider what else that energy could be invested it, be it food, or housing construction, or transportation, or even space travel. Energy is the real currency in this world, convertible between different forms, and mining bitcoin is sort of like an unavoidable thermodynamic loss for doing any work -- a high cost one.