The "scarcity consumed by energy" claimed by Elon Musk is r…

Donisiya ·

The "scarcity consumed by energy" claimed by Elon Musk is reinterpreted as follows:
​Even with the payment of extreme environmental costs, BTC fails to meet the three essential functions of money (Medium of Exchange, Unit of Account) as suggested by Tominaga (or standard economic theory).
​While fiat currency suffers from a loss of value (increase in entropy) due to overprinting by central banks, BTC is stuck in technological stagnation while consuming vast amounts of energy (resource waste entropy) to maintain its inefficient Proof-of-Work (PoW) system. Although BTC may have avoided the drawbacks of fiat currency (controllability), it is creating another form of entropy in terms of resource and technological efficiency.
​Therefore, BTC is a "broken relic" with scarcity but paralyzed functionality, and the energy on which it is based has merely become a factor that wastes value rather than creates it.