- Counterpoint to [[Bitcoin is battery]]
- Bitcoin is not a battery, but a bottomless sink for marginal-cost electricity
- Price of Bitcoin is dictated by market dynamics and barely affected by electricity
- Bitcoin is produced at a fixed rate
- These two facts means that the economy of Bitcoin is not reliant on electricity and is something between arbitrage and auction
- If miners put more electricity into mining Bitcoin, the rate of production remains constant but it does get more secure
- Security can't be traded away later
- Bitcoin will shift into cheaper forms of electricity but will not leave it for use
- It will incentivize the creation of cheap power sources