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FWIW: I (@rondy) am not the creator of the content shared here, which is an excerpt from Edmond Lau's book. I simply copied and pasted it from another location and saved it as a personal note, before it gained popularity on news.ycombinator.com. Unfortunately, I cannot recall the exact origin of the original source, nor was I able to find the author's name, so I am can't provide the appropriate credits.
Whenever the topic of Bitcoin's energy usage comes up, there's always a flood of hastily-constructed comments by people claiming that their favourite cryptocurrency isn't like Bitcoin, that their favourite cryptocurrency is energy-efficient and scalable and whatnot.
They're wrong, and are quite possibly trying to scam you. Let's look at why.
What is a cryptocurrency anyway?
There are plenty of intricate and complex articles trying to convince you that cryptocurrencies are the future. They usually heavily use jargon and vague terms, make vague promises, and generally give you a sense that there must be something there, but you always come away from them more confused than you were before.