>>What exactly about the current state of crypto is incompatible with this critique?
Ethereum is by far the most widely used cryptocurrency network, and while it consumes a lot of energy relative to the number of transactions in processes, and a lot of energy in absolute terms, it consumes on the order of a thousandths (0.1%) of the world's energy output.
It will have switched to Proof of Stake long before it grows large enough for it to account for a materially significant portion of global energy consumption. So the rhetoric used above, which makes the generalization that "Crypto is a planet-destroying ponzi-scheme", is entirely hyperbolic with respect to the environmental criticism (and a blatant mischaracterization with respect to the ponzi-scheme allegation).
Ethereum is by far the most widely used cryptocurrency network, and while it consumes a lot of energy relative to the number of transactions in processes, and a lot of energy in absolute terms, it consumes on the order of a thousandths (0.1%) of the world's energy output.
It will have switched to Proof of Stake long before it grows large enough for it to account for a materially significant portion of global energy consumption. So the rhetoric used above, which makes the generalization that "Crypto is a planet-destroying ponzi-scheme", is entirely hyperbolic with respect to the environmental criticism (and a blatant mischaracterization with respect to the ponzi-scheme allegation).