> the real utility of that is? if they are lied to, then yes, they've wasted their utility. But if they weren't lied to - aka, they know full well what they'r

> the real utility of that is? if they are lied to, then yes, they've wasted their utility. But if they weren't lied to - aka, they know full well what they're buying - then, how they feel _is_ the utility. Why is this any different than, say, going on a cruise ship that expends the equivalent amount of energy? A transaction is not a waste just because some people (who weren't part of the transaction) believe it to be wasteful. Only those involved in the transaction can determine that metric. Regulation needs to be in place so that externalities are part of the transaction - which is why instead of stopping bitcoins, the energy usage (of anything, including bitcoin) should have a carbon tax.