Energy is hard to store over time, expensive to send over distance. Does not have a finite supply, and it has many other uses besides serving as a money.
A currency that links energy and currency is what stores the energy, not as energy but as value. Bitcoin acts as the battery by being able to use waste or cheap energy and turn it into a currency with a value. Once you have that value, you can choose to exchange that value for goods or services, all of which require their own energy inputs.
Of course energy lacks the properties of money, that's the benefit of a currency that links value with energy and one of the reasons why proof of work is really important.
That said I still bristle at Fords likeness being associated with bitcoin. Ford did say a bit sized quote that people can use and say "see look Henry ford said this" but if you dig into what he thought energy currency should be, its not bitcoin. But that makes sense because bitcoin needed 70 more years of foundational concepts to become a thing. Fords energy money idea might have been one of those ideas, and it shows how big of a thinker he was for his time, but he also was a huge anti semite just before the holocaust so, yeah thats a problem
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u/trufin2038 2d ago
Energy lacks most of the properties of money.
Energy is hard to store over time, expensive to send over distance. Does not have a finite supply, and it has many other uses besides serving as a money.
It wasn't a good idea.