I think it's a waste because that energy could've went to more productive on-demand energy-intensive uses like electrolysis, desalination, or carbon capture
That's false because the energy capacity for those things was there already, and those things did not grow and proliferate to consume energy the way you see Bitcoin consuming energy.
The problem with those processes is no one is willing to pay for them, ie. no profit incentive. That is a separate issue involving public spending and creating incentives to support industry.
What you've done is imagine ways to spend money/energy that isn't yours for a greater public good, which is pretty easy but otherwise overly simplistic.
The problem with those processes is no one is willing to pay for them, ie. no profit incentive. That is a separate issue involving public spending and creating incentives to support industry.
What you've done is imagine ways to spend money/energy that isn't yours for a greater public good, which is pretty easy but otherwise overly simplistic.