"waste" is purely subjective. Is it wasteful that televisions exist just because I don't like watching them? What if televisions used more or less resources? Shouldn't the actual quantities matter more than our opinions about the merits of the activity?
It depends on what you value. If you value energy efficiency, Bitcoin is extremely wasteful for sure.
However if you value freedom/decentralization, it isn't. (I know about the debatable parts of decentralization and Bitcoin but you probably got the main idea)
However if you value freedom/decentralization, it isn't.
Then your passion for freedom has to grow in lockstep with the Bitcoin market cap, because this is what tracks the actual cost per unit of work with Bitcoin.
Also note who has to bear the cost: PoW resource waste is something that affects everyone, even if only a small group perceives it as valuable.
Well a total economic revolution isn't going to happen overnight. It will take many more years if that's going to happen, and where it's going, even with all the scalability and PoW/waste problems, is still in the right direction given today's economic system.
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It doesn’t change the fact that they are fundamentally wasteful
"waste" is purely subjective. Is it wasteful that televisions exist just because I don't like watching them? What if televisions used more or less resources? Shouldn't the actual quantities matter more than our opinions about the merits of the activity?
Nope.
It depends on what you value. If you value energy efficiency, Bitcoin is extremely wasteful for sure.
However if you value freedom/decentralization, it isn't. (I know about the debatable parts of decentralization and Bitcoin but you probably got the main idea)
Then your passion for freedom has to grow in lockstep with the Bitcoin market cap, because this is what tracks the actual cost per unit of work with Bitcoin.
Also note who has to bear the cost: PoW resource waste is something that affects everyone, even if only a small group perceives it as valuable.
Well a total economic revolution isn't going to happen overnight. It will take many more years if that's going to happen, and where it's going, even with all the scalability and PoW/waste problems, is still in the right direction given today's economic system.