> If you don’t want people to rewrite history, you have to be wasting tons and tons of resources 24/7, 365. And that’s why Bitcoin burns as much power as a significant country.
No, Bitcoin burns that much power because it has become the top speculative asset.
But it only became that after maybe 8 years. Before that it actually functioned more like a currency (amongst other things, for buying illicit goods online).
And what makes Bitcoin ideal for speculation is its capped emission where every 4 years the amount emitted is halved, encouraging FOMO.
I agree most cryptocurrency should die in a fire, including all the ones made to enrich their creators, which is the vast majority of them.
The few that do not allow their creators any financial gain, and those that strongly discourage speculation by having the same amount emitted every year, do not need to die.