Bitcoin doesn't waste energy, it eats energy that would get wasted.
Let me explain.
Bitcoin mining is a highly competitive industry that requires a lot of capital and cheap energy. Cheap energy sources have a low opportunity cost, which means that they cannot be utilized for generating and selling electricity for human settlements.
For example, let's say you have a good source for hydroelectricity, but located in a stranded location thousands of kilometers away from human settlements. Abundand energy but transporting it wouldn't be economical.
For bitcoin mining though, you only need the miners and an internet connection on site, and tada, you can store energy in a monetary form on the Bitcoin network. This is what blew Jordan Petersson's mind.
Another example is methane that comes as a byproduct of digging oil. It cannot be transported, so it's simply flared. Or used to mine Bitcoin.
So no, Bitcoin mining isn't making your electricity more expensive nor will it do so in the future as the network grows. Bitcoin will always be hyper competitive industry due to Bitcoin mining's difficulty adjustment, and the energy required is a low opportunity cost, cheap energy that would've not been used to power your fridge anyway.
The amount of ignorance and the fud about using energy for "useless computations" (on a network that might just very well save your ass from a crumbling fiat house of cards) is just too damn high so I thought I'd explain it.
You're welcome, and lucky to read this here. Because it took massive amount of research to come across myself.
