Harnessing energy is the basis for civilization. The amount of energy used is highly correlated to the level of civilization.
Using energy is not an issue, it's how we produce it that matters. This applies to all forms of energy use of which bitcoin is just a tiny fraction.
Bitcoin will not compete with current energy demand which is geographically constrained. Bitcoin miners can operate at any location in the world and are incentivised to use free, unwanted, waste energy. Any miners that try to increase the demand of current energy supplies will be uneconomical and go out of business.
Also miners using more energy does not directly increase the price of bitcoin. Ultimately the amount of (otherwise wasted) energy used by the network will be limited by the transaction fees which are a free market.
Using energy is not an issue, it's how we produce it that matters. This applies to all forms of energy use of which bitcoin is just a tiny fraction.
Bitcoin will not compete with current energy demand which is geographically constrained. Bitcoin miners can operate at any location in the world and are incentivised to use free, unwanted, waste energy. Any miners that try to increase the demand of current energy supplies will be uneconomical and go out of business.
Also miners using more energy does not directly increase the price of bitcoin. Ultimately the amount of (otherwise wasted) energy used by the network will be limited by the transaction fees which are a free market.