Doesn’t work that way. Bitcoin’s block reward system is designed so that the sys...

		spookthesunset on Oct 16, 2019 \| parent \| context \| favorite \| on: Bitcoin Energy Consumption Index Doesn’t work that way. Bitcoin’s block reward system is designed so that the systems energy consumption costs are basically some percentage of the price of bitcoin. The higher the price, the more energy used. Drop the price of energy, and all rational miners will just buy more hardware. Why? If they don’t, their competitors will and the odds of them getting block rewards will go down.

I'm arguing the opposite -- if energy cost more, less energy would be consumed by Bitcoin.