45. Bitcoin’s energy consumption

We discuss the economics of energy, based on the chapter on the topic in my Principles of Economics textbook, which is available to subscribers on academy.saifedean.com. What is the economic rationale for consuming energy? How has energy use increased the value of human time, helped end slavery, and improved living standards? What does this teach us about bitcoin’s energy consumption? What are the real costs of low-energy alternatives to bitcoin?