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RE: BTC: The Unsustainable Beast
the crazy part is you can't even make it use LESS power. the second you invent a more efficient miner for bitcoin is the second the goalposts get moved. it's not like people go, "awesome, now i can mine at half the power consumption!" instead they go, "awesome, now i can set up twice as many miners for the same power as i was using before!"
as long as bitcoin has value, the price people pay in electricity to mine it is pegged to that value :(
More or less, until the people involved get tired of the con - after they first wake up to the fact that they're mining for breakeven, and never even getting ROI on the initial investment. And that's when you get a crisis of confidence.
Really like the goalpost analogy. It really sums things up.