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> In the very early days there was a positive attitude. However, since the price started to reach double digits, the attitude became sharply negative From an e
by cesarb 5y ago
> In the very early days there was a positive attitude. However, since the price started to reach double digits, the attitude became sharply negative
From an ecologic point of view, this makes sense. The amount of electric power used by the Bitcoin network tends towards the amount of electric power one can buy with the block reward and fees. While the Bitcoin price was in the single digits, this was not an issue, since even with the higher block reward back then, the amount of electricity one could buy with it was low. Once the Bitcoin price started climbing higher and higher, however, the total amount of power used by Bitcoin miners became significant.
The utility of Bitcoin is the same no matter its price; but its negative environmental cost is proportional to its price. It's natural that the attitude to it becomes negative once its downsides (proportional to its price) increase while its upsides stay the same (though one could argue that its upsides also have reduced with higher prices).