Quote from: Samarkand on February 17, 2018, 10:09:39 AM

I´m tired of hearing the argument "but Bitcoin wastes more energy than
a whole country..." all over the mainstream media.

Here are a few reasons why the energy that is consumed by Bitcoin mining is not wasted:
1. The energy that is consumed by Bitcoin mining is the foundation of the security of the network
2. Proof-of-work is superior to other consensus algorithms like Proof-of-Stake and offers less attack vectors
3. Fiat currencies are supposedly backed by the power of the state... meanwhile the US military consumes more energy than Bitcoin mining per year
(this is a comparison of the military of a single country compared to a truly global currency)
4. No one is talking about the enormous costs of transporting fiat money, securing it and printing it in the first place
5. The mining of other commodities is extremely energy-intensive as well

If you take all these factors into account, Bitcoin may actually be less energy-intensive than traditional
fiat currencies. Besides, many mining companies have set up their operations in countries with an abundance
of renewable energies like Canada or Iceland. The days where Bitcoin was solely mined in rural Mongolia and China
may finally be behind us.

1. So what? Being the foundation of the network doesn't mean its not wasted. Knowing for a fact that there are better alternatives (PoS v3, for example), we can argue that it is possible to sustain a secure crypto network without wasting huge amounts of power.

2. Can you prove that? Can you? Or is it just your belief? How do explain the recent rise of new PoS coins, and even the ETH plans to transition to PoS? I'm guessing all these guys are stupid... right? PoW is an obsolete consensus mechanism, there are better alternatives. Period!

3. Comparing BTC with the US military is so ridiculous I'm not even going to bother with any comments...

4. This is just ignorance, nothing else. Wake up, man! Most of us have been using plastic money for the last 10~15 years! Do you still believe in huge armored convoys, SWAT escorts, helicopters flying to protect bags filled with coins and bank notes? That's in the movies! In the real world, those movements occur very seldom and their cost cannot be compared to BTC's energy waste.

5. Yes, it is. So what? You justify one mistake with another? What a nice argument... PoW's energy waste cannot be excused because oil, gold or diamond companies are also wasting power. They are all wrong!