I think there are technicalities to bitcoin that make typical economic reasoning futile, and as a result non-tech people argue for things they don't really understand.
The energy consumption argument alone should completely destroy bitcoin's prospects. I'm not sure how you can even apply classical economics principles to something as uniquely different as bitcoin. Maybe the cost means people should only trade in extremely high amounts of bitcoin so there are less transactions? I don't know.
The energy consumption argument alone should completely destroy bitcoin's prospects. I'm not sure how you can even apply classical economics principles to something as uniquely different as bitcoin. Maybe the cost means people should only trade in extremely high amounts of bitcoin so there are less transactions? I don't know.