[foxrob92]

The transaction price does not reflect the true cost of the energy, nor does it reflect the negative externalities. When ~1/3 of BTC mining is powered by coal in Xinjiang, it's horrific for climate change (source: https://fortune.com/2021/04/20/bitcoin-mining-coal-china-env...). The power is cheap, in part because it does not include the externalities of the extreme CO2 emissions used to generate it.

>i don't place a utility judgement on the use of energy.

Attitudes like this are why staying under 2C of global warming is going to be a long shot at best.

>If somebody is willing to pay for their use of electricity, they deserve to use it.

A nice idea, but energy use affects us all. More fossil fuel burnt = more extreme climate change. For where I live, it means cyclones will hit land further away from the equator (and closer to larger population centres), overall rainfall will drop and bushfires will be more severe and frequent.

I feel justified in denigrating BTC because its colossal waste of power is a significant contribution to climate change. This has tangible harms to everyone on this planet.