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It doesn't actually matter; it uses energy, increasing the total energy demand of the world. Other uses (like charging up EV's) also need energy.

It seems like the effort to turn energy production towards renewables (that is, replace carbon emitting means with renewables) is undone by increased energy demand. So instead of replacing the one with the other, we have to keep the old methods around just to meet demand.

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>It doesn't actually matter; it uses energy, increasing the total energy demand of the world. Other uses (like charging up EV's) also need energy.

This is only partially true. One watt of hydro electricity might equal to another watt of coal electricity, but it's also locked to a particular region (because there's no global electricity grid) and a particular point in time (because you can't "store" electricity cheaply like oil).

>So instead of replacing the one with the other, we have to keep the old methods around just to meet demand.

Long-term causality is pro-bitcoin. Just like with network bandwidth usage, "whales" (heavy users) drive and finance the build-out and the R&D.

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