Electricity can be wasted, even in profitable businesses.
Fred Fauth
1

Thank you for your thoughtful reply Fred.

Electricity can be wasted, even in profitable businesses.

You don’t understand what the word “waste” means in the context of this piece. Obviously, anyone using electricity would rather be using it in a system that is 100% efficient. What I am talking about here is the absurd idea that others have when they judge Bitcoin mining as being wasteful, no matter how efficient it is.

You've just constructed a giant Straw Man to knock down. What I’m saying is very clear; if you pay for something, how you use it is your business, and not the business of other people to say, “You’re not using that electricity correctly”. That’s why I give the example of heating an outdoor swimming pool to 90°F in winter. You've missed the context entirely.

I see my post is your first ever comment on Medium. I'm honoured!

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