Your statement about history is probably correct, but I don't agree about energy efficiency. Bitcoin is more energy efficient than gold. Most bitcoin power us

Your statement about history is probably correct, but I don't agree about energy efficiency. Bitcoin is more energy efficient than gold. Most bitcoin power use is waste power— eg power generated which exceeds instantaneous demand, and bitcoin’s entire power usage is still 1/6th of what is currently thrown away... if bitcoin ever fails to deliver utility beyond its power cost, the network will reduce mining because mining will no longer be profitable. Cheers!