Correct. Everything is built upon energy (see civilizationmetrics.org), mining is not special. And it is Bitcoin itself that avoids capital misallocation, which Bitcoin obviously cannot do while the world is still primarily run by fiat. Bitcoin mining as an industry actually mostly runs on a fiat calculus, energy contracts, fab access, etc, all 0% bitcoin denomination.

Derek's reply helps strengthen my point that this is a most retarded conflation and it is bearish for human civilization that these errors gain so much mimetic traction. It is logically equivalent to saying "Bitcoin does X thing I like because X is better. My favorite color is blue, so bitcoin mining will make every car blue since this minimizes energy." Total gibberish from people who have emotionally-driven narratives, no engineering backgrounds, but want to belong to the leftist statist cucks in some capacity -- Stockholm clinging, this is what drives the "renewables" people.

None of them have a clue what phase shift is, for instance, or the fact that you see idiots like Max Webster talking about 10x overcapacity 100% solar + batteries as his prediction for the world -- under sound money, Max would be mocked and ridiculed out of every room no differently from a BSV'er, but Bitcoiners obviously still feel rather weak and it shows.

Renewables have trash returns, and bitcoin will eliminate the uneconomical scams funded through violent robbery and theft. Enough!