alt Hacker News> It is irrational to spend the same amount of energy on mining a digital token when it can be used to build and power actual productive robots
It's just as irrational as it was 10 years ago, there have always been more productive uses for energy, but it doesn't really matter, people will always chose their own short-term profit, expecting anything else is delusional
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jszymborski • today at 3:28 AM
Further to this point, it's not like non-PoW coins like Ethereum are doing better at the moment.
No, 10 years ago the threat was from financial collapse given the past 16 years of bubble induced recessions, energy usage was a store of value hedge against inflation. 10 years ago the first approved ETF was still 5 years away and institutional buyers were nonexistent.
People will not always consider short term profit; thinking such is an irrational expectation.