Worried about bitcoin death-by-success
https://ift.tt/dO2BX7K
I’m posting my concern on the hypothesis (might you can refute me) that bitcoin energy consumption is proportional to the bitcoin price. Now, total energy consumed it’s believed to equal 0.5% globally. Let’s say price increases 10 fold in a short time, that would cause dramatically big energy waste. Days ago there was a close call at the European Parliament [EU Parliament back off plan to phase out energy hungry cryptocurrencies](https://ift.tt/zNFg3L2bitcoin-european-union-parliament-ban-proof-of-work-cryptocurrencies), that fortunately was rejected. But my concern is that energy consumption might cause a legal death of Bitcoin in the major economies and severely damage its value. I wonder why at this point the possibility of an official fork to PoS is not being seriously considered.
Cryptocurrency
