Money is a representation of energy. Gold is valuable because it takes a lot of energy to extract and purify. Petroleum has ~44 megajoules of energy per kilogram of mass. We are shifting away from that, now money represents the energy used to generate, store and transmit information.
Big tech with their server farms are the biggest energy consumers. Wind solar, etc is all to make data storage and transfer cheaper, but data generation takes real humans. The idiot technocrats are slowly realizing this, which is why the crypto boom is reversing.
It's taking an unbelievable amount of energy to generate these coins. The cost of hydrocarbons is not in line with the cost to produce crypto. These two prices are reconciling. Crypto comes down oil goes up.
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