[Fellshard]

I think both can be true. Specifically, Bitcoin mining would itself encourage greater energy production; it doesn't merely skim off the excess energy, as you suggest. It generates its own market forces, it's not merely floating above them.

[eeZah7Ux]

> Bitcoin mining would itself encourage greater energy production

Bitcoin does not generate energy - it consumes it.

And the world does not benefit from any encouragement to produce and consume more energy.

[dane-pgp]

> the world does not benefit from any encouragement to produce and consume more energy.

Due to the way economies of scale and learning curves work, there might actually be some benefit from encouraging production of renewable energy.

[cjbprime]

While that's plausible, I'd still agree with the parent comment in general -- it's true that it's not cost-effective to mine using fossil fuels (you would lose money doing it), and this alone requires a different way of talking about the issue.

[xg15]

Indeed. This reminds me of the cobra effect: https://en.m.wikipedia.org/wiki/Cobra_effect