
Bitcoin Mining Is Not Wasteful - tomkwok
http://blog.zorinaq.com/?e=82
======
rspeer
To paraphrase:

1\. I'm going to make the energy use of Bitcoin sound small by taking it as a
fraction of the _entire goddamn world_. Also, some of it is hydro power, which
forgives everything.

2\. Even if it were 0.74% of the entire world, that would still be worth it
because Bitcoin is the most important thing in the world.

3\. If we didn't use all this energy, there wouldn't be any Bitcoin, and that
would make me sad.

4\. Bitcoin companies employ a lot of smart people and give VCs something to
invest in. Clearly none of these people would accomplish anything in the
absence of Bitcoin.

5\. Even though I just said mining is good, people are mining relatively less
now, and that's also good. Everything about Bitcoin is always good.

What an argument.

------
tdeck
> Bitcoin is already a net benefit to the economy. Venture capitalists
> invested more than $1 billion into at least 729 Bitcoin companies which
> created thousands of jobs.

[https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window](https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window)

