more money is wasted mining coal
more money is wasted mining gas
more money is wasted mining oil
lets take coal for instance.
the coal industry mines 2billion tonnes a year at between $40-$60 dollars a tonne.
thats a $80-$120 billion industry.. PER YEAR and once the coal has been burned thats the end of that coal, its gone.
the costs of mining bitcoin is not even 2% of the coal industry and once mined, bitcoins dont just burn into nothing. they circulate and can be swapped and traded as much as they like forever.
extrapolate in future and it can easily eclipse all of those.. It is economically retarded I agree but its just a consensus algorithm.. In the end the blockchain is the takeaway to all of this.