I think the mistake here is that the author doesn't understand the potential of cryptocurrency so sees electricity use for crypto as a pure cost. You can see this because of comparisons to centralized services.
On coal power: It's bad to use coal to mine Bitcoin, but it's bad to use coal to provide power for any activity. Coal power should be banned outright.
On coal power: It's bad to use coal to mine Bitcoin, but it's bad to use coal to provide power for any activity. Coal power should be banned outright.