Consider the costs, both environmental and financial, to mine, secure and transport gold.
How does it compare against Bitcoin? What intrinsic value (besides "ooh, shiny") does gold actually have?
I agree that BTC and cryptocurrencies generally are utterly wasteful, but what too many look at is the headline figure of energy consumed, and not what energy is being consumed.
Disclaimer: I think BTC is a total waste of time, and I am long BTC because I think it'll buy me a house one day too.
How does it compare against Bitcoin? What intrinsic value (besides "ooh, shiny") does gold actually have?
I agree that BTC and cryptocurrencies generally are utterly wasteful, but what too many look at is the headline figure of energy consumed, and not what energy is being consumed.
Disclaimer: I think BTC is a total waste of time, and I am long BTC because I think it'll buy me a house one day too.
(EDIT: I also have gold too)