> that every Joule that is used for bitcoin mining is a Joule that wasn't used somewhere else.
This applies to so many things. Snapchat data center? YouTube using gigawatts to process and stream cat videos? On and on. It’s really hard to control what people do with energy. Much better to focus on ensuring its priced correctly and all it’s externalities are properly included in that price. Then we don’t have to involve ourselves in moral debates about what’s a valid or invalid use.
This applies to so many things. Snapchat data center? YouTube using gigawatts to process and stream cat videos? On and on. It’s really hard to control what people do with energy. Much better to focus on ensuring its priced correctly and all it’s externalities are properly included in that price. Then we don’t have to involve ourselves in moral debates about what’s a valid or invalid use.