https://www.youtube.com/watch?v=wYnGYz-sVhQ

Bitcoin Wastes Energy?

🔹 Misconception:

* Bitcoin is criticized for wasting electricity, with claims it uses more power than entire countries like Argentina.

🔹 Key Difference:

* Using electricity = providing value or achieving a purpose.

* Wasting electricity = using power without purpose or value.

🔹 Examples of electricity use:

* Refrigerators preserve food.

* Washing machines clean clothes.

* Planes help us travel.

🔹 Examples of waste:

* Leaving TV or air conditioning on when no one is home.

🔹 Energy as progress:

* Just like fire advanced human civilization (cooking food, staying warm, making tools), electricity revolutionized life with light, computers, the internet, and smartphones.

🔹 Why Bitcoin uses electricity:

* Bitcoin is a decentralized ledger ensuring security and neutrality.

* Proof of work (mining) consumes electricity to verify transactions and secure the system.

* It prevents manipulation by adding a cost barrier, similar to building a fortress to deter attackers.

🔹 More electricity = More security:

* More participants in mining make the network stronger and harder to attack.

* This protects wealth from inflation and government interference.

🔹 Comparing to traditional systems:

* Large banks, ATMs, armored trucks, and military defense systems (e.g., backing the U.S. dollar) consume enormous resources.

* Traditional systems exploit people through inflation, unlike Bitcoin.

🔹 Conclusion:

* Bitcoin’s electricity use is purposeful: securing the network and maintaining decentralization.

* Energy usage drives human progress.

* As mining shifts to renewable energy, Bitcoin’s environmental impact will improve.