[rothbardrand]

Please define "insane"? Those who oppose PoW and think it uses "too much" energy never give a reason. Seems to be based in basic "we should all be poor hunter gatherers" marxism to me.

Mining is profitable, bitcoin is valuable enough to make it so, and it is valuable because it is doing jobs that people want to pay for it.

By definition, economically, it is not insane in the least.