By lately some people have been claiming that "Bitcoin's power consumption is a central point of failure - someone can just switch off the electricity and all miners stop". And in particular "Bitcoin will not survive the coming winter". Both of these are wrong.
I have not heard the argument of Bitcoin not surviving the coming winter. Does that refer to the actual season (weather) or the metaphor used to describe grim bear markets? I'm assuming it would be more of the former, as Bitcoin has been through multiple market cycles, but would appreciate a bit of clarity.
About
someone switching off electricity and stopping mining, that's quite a ridiculous argument. For one, if there is a global electricity crisis, almost all industries would take a huge hit. And there's no
someone that can switch off electricity and cut of miners.
Also, why are presumed global crisis said to be a Bitcoin problem?
People are always discussing the effect of quantum computers on the cryptography of Bitcoin, but if hypothetically it became a reality, this would be an issue for all global security outlets.