1. time is energy
2. time is movement of energy
Well, a third option is missing obviously: the time is nothing from given above.
Amrit, it's impossible to compose a scientific theories by such naive way...
The time cannot be both energy, both the motion of it, just because even the energy appearance (i.e. without any motion) is time event. When energy transforms to different forms (without any motion again), it's a time event too...
After all, the energy cannot move, just change. The energy has no center, which can be used for location of position of it. The energy is the state.
The time "doesn't care", whether some energy exists, or not. It's not dependent on its existence.
Well, I believe, the whole Universe at the current state can be described recursivelly by the wave equation, which connects the time, dimension, mass and energy quantities and supplies an unambiguous relation between them.
It's nice (well, it's my theory, after all..) but
1) it's only hypothesis
2) a long time before the Universe has switched to the harmonic state it was able to exist in a quite different (maybe chaotic, or whatever else...) state
3) and it doesn't explain, why all these quantites differs from each other and why the're exists at all. They're simply postulated by us for simplyfying our understanding of Universe.
But, why the Universe should be so simple? Why it should by described by such number of quantities? Maybe some other differential equation exists here, using a quite different topology, etc, etc...
Using a wave equation theory, I can agree with you, the time is tightly conected with both the mass motion, both the energy change. But the time isn't both the motion, both the change here, because it appears like a quite different quantity, and it even doesn't inherit from the relation between the motion and change, being a quite independent.
The Universe can contain just the energy changes, i.e. with no motion, or even it can be a trully chaotic or whatever, but it can exists in such regime for a long time, switching its states continuously. We will not be able to say, how old the universe exactly is after than, but it will be older and older obviously.
Even the Universe appearance itself is the time event, so we can say, the time runs independently to any existence. From this point of view, the time looks like very fundamental quantity, the true nature of it remains unclear (the quantity = the quantitative semantic category, which simplyfies the understanding).
After all, it's possible, the time is just an sensoric ilusion (like color or sound tone) which enables the causality understanding. But it should be proven at first.