The problem boils down to "How can I control superior AIs through mere power of inferior humans?".
The assumption is that the superhuman nature means there is no way disable a superhuman AI because deactivation will not fulfill its cost function and therefore must be avoided at all costs, the superhuman AI will always outsmart humans and prevent deactivation, the same way a skilled soldier will always beat an untrained civilian in combat.
We have solved it for humans by accepting that the victor gets to lead humanity. Can we accept AI rule? Probably not.
So gold mining is only 90% waste, whereas Bitcoin mining gets close to 100% waste.
Then again, perhaps printed dollars could perhaps also be considered highly wasteful?