[throwaway392321]

> Here’s a question for you. Which makes more BTC: (1) the world today, (2) an alternate reality where the mining algorithm is the same but it’s being run on Matryoshka brains enveloping every star in the universe (all operating at the Bekenstein bound for efficiency and which can somehow communicate instantly)?

> The answer is “they are the same”.

What is the point that you are making here? The supply schedule of bitcoin is fixed. When more energy is used by rational economic actors to mine bitcoin, it would just have to be supported by an increase of demand rather than supply.