Not true. If it invalidates your ‘assumptions about incentives’, then your assumptions are wrong. All that is truly necessary is for the value of that use to be smaller than doing it in a way that doesn’t involve mining.
A simple example illustrates this: You could argue that current crypto mining already has a use: it heats up your room. In fact a lot of people run mining clusters instead of electrical heaters in the winter.
Not true. If it invalidates your ‘assumptions about incentives’, then your assumptions are wrong. All that is truly necessary is for the value of that use to be smaller than doing it in a way that doesn’t involve mining.
A simple example illustrates this: You could argue that current crypto mining already has a use: it heats up your room. In fact a lot of people run mining clusters instead of electrical heaters in the winter.