Quote from: Herbert2020 on October 24, 2018, 06:48:19 AM

actually the irony is that a lot more energy is wasted each time someone brings up this topic that has been discussed a million times and is wrong. and it is funny that the theme of it is always the same but the discussion is seemingly different. basically you all are ignoring the unimaginably huge utility that bitcoin is offering as a decentralized currency. you with your statements such as "bitcoin is taking away energy that could be used elsewhere" as if the energy production is capped and bitcoin is taking away from it! and others with similar statements.

What is really funny , is how all of those people that ignore bitcoin's energy waste
always seem totally clueless that Proof of Stake can provide an energy efficient method with a onchain transaction capacity higher than bitcoin.

Bitcoin has not been decentralized since the Chinese miner exceeded almost 70% over 2 years ago.
Bitcoin is now and will forever more be Centralized.

The problem with bitcoin is the rate it has been requiring more resources, it is exponentially growing at a rate that exceeds current energy infrastructure. And the current energy infrastructure is growing at less than 15% per year, Bitcoin is exceeding that % and will drive up prices or be banned depending on the Electric Utility's Choice. Some such as China are starting to Ban already and the miners used hydro-electric in China.
The places where mining is profitable is decreasing every few months.
It really does not matter whether you believe it or not, by 2021 the reality will be inescapable to all.
By that time Bitcoin Mining will be done only by the government sanctioned few or died because it was crushed by it own growing electricity input costs.