Something I've been thinking about is that proof of work "coins" are basically energy credits. When energy is cheap, miners can lower their fees and keep the same return, leading to more economic activity. When it is expensive, they need to raise their fees to stay profitable, thus reducing economic activity.
I think this makes sense. Wouldn't it be beneficial if economic activity scaled with energy availability? It also creates a direct incentive to develop and utilize the most efficient energy sources possible, without regard for the politics between various stakeholders (hydro vs oil vs coal vs wind vs solar, etc).
I think this makes sense. Wouldn't it be beneficial if economic activity scaled with energy availability? It also creates a direct incentive to develop and utilize the most efficient energy sources possible, without regard for the politics between various stakeholders (hydro vs oil vs coal vs wind vs solar, etc).