Bitcoin does require electricity and hardware to be produced. This is an objective fact. And that requires a certain minimum of money. Facts, such stubborn things.
But money spent does not mean there's value.
and only idiots would waste terajoules of energy a year digging yellow metal out of the ground.
I think we can agree that if I spent terajoules digging sand instead of gold I wouldn't have something as valuable as the idiots you refer too.
As you see, plenty of circular reasoning going on.
At least if you are going around in a circle you don't get lost.
au contraire mon frère
http://scienceblogs.com/notrocketscience/2009/08/20/do-lost-people-really-go-round-in-circles/Oh wait, Columbus. I still stand by my statement, I'm getting dizzy.
And there you go...
Speaking of valuable, at the time of the having I will be visiting a very old person, much older than Jimbo.
Tell him/her that I said "hi" if you run out of conversation material. That kind of stuff fills in a lot of time with old people.
"Aw, that's nice!"
"He's such a nice boy."
"Who?"
"Have I met him?"
"Was he the creepy guy down the street?"
"Who's his parents?"