Many people believe that Bitcoin mining does not generate social value, and that mining is just a waste of resources. I think this is a misunderstanding of mining.
Just like printing money in a country, it also consumes manpower and paper. It is electricity that guarantees the value of Bitcoin. Just like issuing currency, this consumption is inevitable.
I don't want to use the logic that existence is reasonable. The electricity consumed by Bitcoin mining is the result of normal market economic transactions. Isn't this the value of Bitcoin in the market? It's not that it is meaningless.
For the entire system, the greatest value of the large amount of electricity consumed by Bitcoin is security.It is precisely because accounting involves huge computing power that no other organization has the ability to tamper with data.