Quote from: cellard on October 24, 2018, 03:01:50 PM

Try to explain someone like Warren Buffet, Roubini or all these guys how the massive ASIC hashrate isn't a big waste. They simply cannot fathom that it's part of what makes Bitcoin valuable (the fact that is backed by all that power which makes it the safest decentralized network in earth)

Most of the people on this earth who are aware of the name bitcoin feel like it is a ponzi/pyramid scheme and it is similar to stocks. They most probably never even understand the technology behind what governs and secure the btc network and why it can be used as a very secure decentralized payment system around the world. People like Warren Buffet often says he never thought that Internet would grow as a world wide phenomenon and Giants like Amazon and Google would grow such huge occupying a percentage of world economy. The fact is that they don't literally understand what happens in the backend or they don't have the age to understand them.

Quote from: cellard on October 24, 2018, 03:01:50 PM

A lot of people will simply never get it, they are too old I guess.

Being old isn't the only thing that most of them don't understand what btc is and think of it as a get rich quick scheme. Almost 75% of the third world population aren't really of btc/cryptocurrency and when they come to know of them, it takes time for them to completely understand the underlying Tech and to use them in real world.

Btc is a currency mostly for tech based and nerd people and for a futuristic well developed world which came out in existence a little early.

Quote from: cellard on October 24, 2018, 03:01:50 PM

Im not sure about transforming the heat generated by the ASICs into something else. I have not seen anything done in this field other than anecdotal stuff like this:
https://motherboard.vice.com/en_us/article/9k8ykp/heating-water-with-bitcoin-mining-asic-reddit

The mining industry does generate some huge heat and if it used effectively on a larger scale they can be converted into some form of useful energy as depicted above by you.
It is to be noted that,

[1] Co2 emitted by the crypto mining industry is equivalent to around 60 million tonnes per year whereas the Co2 emitted by banks and fiat currency minting is equivalent to 370 million tonnes.

[2] Energy consumed by the Crypto mining industry is 4 million Giga Joules per year whereas Banks and Banking Systems cumulatively use an average of 2000 million Giga Joules per year.

These factors are enough to prove that Btc can overrule the fiat and can be used as a world wide currency run by the people and not by some centralized government organisations.