First I got to looking at the BTC oil ratio (both measured in dollars) – basically with every halving event in BTC it takes twice as much energy to produce the next one, so BTC stops being mined until the price of energy falls enough to make it profitable or BTC in dollars rises above the cost of energy production.  A barrel of oil remains in constant dollars while a BTC that has been halved, costs twice as much (in oil dollars) to produce the next unit.  BTC to the moon while oil remains relatively dormant.  If halving is removed from the BTC program – it becomes a wet noodle (see bottom link below).

Before moving on with my argument – there is one deception that is being merged into public perception and that is – Electricity is an energy source.  It is not, it takes a LOT of fossil fuel (mined and pumped from the earth) and a pinch of solar (sun) or wind (air) and a table spoon of hydro-electric (gravity) to produce.

See chart below of cost to produce 1 BTC vs. cost of energy (electricity) consumed to do so.  There are divergent spikes in the value of BTC but generally they are directly tied to one another.  I would dare say that the value of BTC is roughly equivalent to the cost of electric power.

https://energycostmodel.com/images/miningcost1.png

courtesy https://energycostmodel.com/  << reading this entire blog is worthwhile IMO.

Read this article also https://digiconomist.net/bitcoin-energy-consumption

Goog/duck duck search “cost of electricity if crypto is removed”

So consider this – hypothetically let’s say the cost of electricity remained FLAT, what would the price of BTC do WITH halving – it would conceptually double the price of producing the next BTC unit, so no one is going to mine BTC until it become economical – in a FLAT electric cost environment there would never be incentive ever to mine one more unit so new BTC mining stops.

So to keep BTC alive (production of more units in circulation), either BTC falls in value to meet electric cost or electric cost rises to the incremental cost to produce a bitcoin << this is the reality of it since of course the cost of electricity is NOT flat and BTC mining seeks out the cheapest power sources possible, it eventually raises the cost of energy where it’s being mined.  Globally it puts a rising floor under electricity prices and over time will cause global electricity prices to be singular and voila – units of BTC = units of Electricity on a global scale.

My suggestion – quit wasting energy on BTC and put it to productive use – build something, power something.  Electricity is simply current – flow.  if there’s not flow (energy transfer), there’s no ‘work’ being done.  What produces FLOW – something other than electricity (see ‘deception’ note above).

Here is the punch line

BTC with and without halving

https://crypto.com/en/bitcoin/halving-countdown

Basically halving creates artificial scarcity – remove halving events and what do you have –  a flat chart.  No growth, nothing organic, nothing being ‘produced’, ether, air, nada, nyet, ok maybe IDIOTS.

That’s my BTC rant.