Get the "Ultimate Guide to Bitcoin" course:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.
Get my best-selling Bitcoin book:
https://www.amazon.com/gp/product/B08RX8Q4ZQ/
Join the Trader University email list:
https://www.trader.university/email-list
In this video, I discuss whether Bitcoin (and Bitcoin mining in particular) wastes energy.
I make the argument that all advanced civilizations use a lot of energy, whether for transportation, heating/cooling, communication (i.e. internet), etc. I'm against the "electricity police" telling us what is a good use of energy and what is a bad use of energy, since these preferences will vary wildly from person to person.
Bitcoin mining uses energy to secure the network, and provide a neutral reserve asset for the whole world. Bitcoin enables individuals to send value to each other across the world in a permission-less manner, and to store that value in a way that cannot be confiscated or debased.
The main class of people who seem to find this objectionable are the central bankers, politicians, and other rent-seeking groups that rely on central bank money printers for their wealth.
The current financial system uses a lot of electricity (skyscrapers filled with bankers on computers) and is ultimately secured by the US military's "proof of war," which is extremely energy-intensive and probably not very good for the environment.
Bitcoin offers us a way out of this mess. The ultimate goal for humanity should be using more energy and not less. Every source of energy comes with trade-offs, that need to be evaluated rationally. Ultimately, Dyson spheres could be used to provide virtually unlimited energy for humanity.
In the real world, there are always trade-offs. In my opinion, Bitcoin achieves the right balance between these different trade-offs. It's important not to approach the questions surrounding energy or money in a cartoonish or childis..