I think Bitcoin is great, and I believe it鈥檚 going to revolutionize the way we do finance. Also, it鈥檚 not a pyramid or Ponzi scheme, unless you have no idea what those words mean. But even though I own some BTC, I find the current rise in its value highly problematic.
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I think as long as Proof of Work is used as consensus algorithm, the whole thing is unsustainable and overly wasteful.
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Replying to @christianseiler
The degree of wastefulness is directly related to the exchange rate

Dec 9, 2017 路 2:32 PM UTC

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Replying to @stilkov
No the wastefulness is built-in - as more miners want to take part in the lottery that is mining, the overall resource consumption increases without any improvement of throughput, speed, qualtity of service etc.
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As the reward increases in value, spending more on energy makes more commercial sense, thus a lower exchange rate would mean less consumption
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