The price of a bitcoin sets an upper bound on consumption of energy where the miner will be in a place that is no longer profitable since energy costs money. On top of this, miners have no upward way to influence the price of bitcoin, only downward (selling of coins, or destruction of trust).
If we just properly externalized the cost of CO2 emissions it solves this problem along with many others. So why don't we do that?
If we just properly externalized the cost of CO2 emissions it solves this problem along with many others. So why don't we do that?