It doesn't move any energy, it adds new energy consumption while producing nothing of actual value. There are ponzi coins and tokens that don't need PoW to ex

It doesn't move any energy, it adds new energy consumption while producing nothing of actual value. There are ponzi coins and tokens that don't need PoW to exist, that's a significantly less damaging way for people to satisfy their ponzi itch. Eventually mining is self-extinguishing as collectively bitcoin holders only lose wealth. There aren't many potential new buyers left at this point, so the set of bitcoin holders can't change that much. On a long time scale bitcoin is a method to make people that think it's a good idea poorer than everyone else, at least in the average case. Social darwinism.