Shower thought: Bitcoin Mining is effectively the most optimised, smallest unit of work that could be used securely to create a fair and decentralised competition. A competition where there is no need for an arbiter to pick a winner, where there is no room for dispute or cheating, and where there are no barriers that might limit who is allowed to join.

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To finish the thought... The fact that it takes so much energy is not because Bitcoin is inefficient - because it is far from that - it's because there is that much competition.