Nuno you are one of the most thoughtful writers about Bitcoin that I have read.

And you read more and more, so you keep learning, all great.

I admire also the thoughts of people like Marian, those are about as good as it gets in the paradigm of Capitalism.

And yet Capitalism is the Grand Energy Ponzi (GEP)

The grandest lump of capital is our planet.

It was created from the energy of the sun, and continues to be maintained by that, which we should accept is the truly valuable process.

Energy becomes matter, information, money, in fact everything we know, it all came from, and still comes from the sun, so it is all just various forms of stored energy, or secondary energy (SE).

The capitalist economy essentially requires that we possess an amount of that SE, and use our ingenuity to grow it, to more SE, by way of things like currencies, and other various flows and processes of secondary energy.

Sometimes that can have truly beneficial effect for all.

But more often than not, it has the opposite effect. As yet, we don’t seem to know or care the meaning, or the source of true value, the action of the sun, whether to work with it, or against it.

Capitalism always, and must always have a cost, by definition.

Profit, and the methods of accounting it, and transferring it, is a manifestation of that misdirected ingenuity.

Bitcoin, on the face of it, and even “printed on the tin”, appears also to be a manifestation of the same misdirected ingenuity.

But it isn’t, when we see it from the point of view truly outside capitalism.

As the overwhelmingly dominant pow token, it is actually the Gateway between Capitalism, and the ongoing process of the sun creating all things of true value from primary energy.

Proof of work tokens, created from the energy of the sun, are the antidote to Capitalism.

We work against that action by the GEP, hence the reason the GEP is unsustainable.

Whether or not Bitcoin should continue to represent only a fixed sum of stored energy is the thing that should be in doubt.

It is actually a measurement of movement, from capitalism, to the process of true value, the action of all things being created from the energy of the sun.

That, has units of energy flow.

The transition involves some 17GW of secondary energy consumption, to around 2oGW of primary energy consumption.

Thus each Bitcoin is worth around 1MW (1MJ per second) of primary energy flow, if we give full credit to Bitcoin for our transition to solar energy, as we should.

We will stop producing Bitcoin when further production of them serves no purpose, we probably will not require more than around 20 million.

After that, with the transition done, we will know the true value of every holding of Bitcoin, it can be redistributed as necessary to direct resources towards the causes most needing it. Holding any amount is the key to infinite wealth, as that is the authority to print endless proof of pow tokens, and since all energy utilised after that is primary, there is no cost of token production, but it is fully backed by the primary energy assigned by Bitcoin, since that gives a measure of the primary energy available.

That, is infinitely more valuable than any amount of fixed secondary energy, since it never stops generating wealth of truly beneficial value for all people and our planet.

Assisting that transition in whatever way we can, by elaborating this knowledge seems like the most productive thing we can do, for the benefit of all people, the removal of scarcity is something of infinite value to all.

If we don’t realise this, then we don’t know what has to happen to end the GEP.

The GEP is unsustainable, so it has to be superseded.