As an avid hater of Bitcoin and lover of copyright infringement, I am all for that! It would be great if we could get the MPA and RIAA to kill Bitcoin for us. People would still gamble away their life's savings on other scams, like Amway, slot machines, or Tesla stock, but at least they wouldn't waste gigawatts of electrical power doing it.
1) Bitcoin can be powered by renewable sources of electricity such as solar and it is very cost effective to do so.
2) Bitcoin uses about as much power as New Zealand.
3) The amount of bitcoin mining is 6.25 bitcoins every 10 minutes which halves every few years. The more mining, the less the miners make. If bitcoin had 1/100th as many miners, it would use 1/100th as much energy but still function and work the same. However, it would be 100x more profitable to be a miner and less secure.
4)As the mining rewards halve, we can expect the people willing to mine to halve and the electrical usage to halve.
5) Ethereum is moving away from proof of work to proof of stake in it’s transition to Ethereum 2.0. This will make eth use orders of magnitude less power to the point where as long as you hold 32 Ethereum you could be processing Ethereum transactions from just your mobile phone.
6) Many altcoins are more energy efficient or use their hash power for something useful. Remember Primecoin?
