Bitcoin’s Energy Use is a Feature Not a Bug Today

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Mickey Koss is a West Point graduate with a degree in economics. He spent four years in the Infantry before transitioning to the Finance Corps.

In a recent article titled “Bitcoin Is Not a Store-of-Value,” an author going by the name of 0xStacker provided a seemingly well-reasoned critique of Bitcoin, equating its energy usage to a flaw in the system — a leak that precludes bitcoin from being classified as a sound store of value. I’m here to tell you that the energy use is not a flaw, but in fact, the aspect of bitcoin that will drive it forward as a reserve currency and store of value for the entire world. The solution touted in the article points to proof-of-stake, of course, but the flaws inherent to that system make it unsuitable as a long-term store of value or decentralized monetary base.

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