Scenario 1 involves POWcoiners wasting a lot of energy for several years generating tokens which end up being worthless, keeping coal plants which could otherwise have been decommissioned open for longer to service the resulting higher energy demand, and then when the mining stops and the coal plants can finally be shut down, telling the rest of the world it's only thanks to their energy usage over the last few years that we've been investing in renewables for the last few decades
It's like claiming that if I steal a percentage of your paycheck for a few years and until the government stops me, leaving you with more disposable income than when I was stealing it, I've actually helped you by encouraging you to work really hard.
