Medium term, I’m assuming that environmentalists are more or less correct that fossil fuels, coal, etc. have large uninternalized externalities. Increased elect

Medium term, I’m assuming that environmentalists are more or less correct that fossil fuels, coal, etc. have large uninternalized externalities. Increased electricity demand from any source will almost certainly increase the dollar price of electricity, at least until R&D allocation effects kick in. However, if environmentalists are correct, even if electricity is a little bit more expensive from increased demand, the type of power generation incentivized by Bitcoin will be less costly for society when externalities are included. Long term, increased reliable electrical demand will hopefully lead to R&D that drives the dollar cost of power down as well.