Topic: Bitcoin price opinion needed (poll) (Read 693 times)
I think you missed an option... that is the price goes down!
That the world would be in uproar is a given, its only about the value bitcoin would have in such a scenario.
Why would the world be upset about cheap energy? Sure some people would lose their jobs, but overall we would have a lot less conflict.
As to the bitcoin question, difficulty would go up and hardware costs would come down. Price would continue to not give a shit about electrical rates.
Cheap energy might encourage more mining, and this increased decentralization combined with the same inflation rate (fixed by the protocol) could strengthen bitcoin considerably. However, there is no conclusive evidence that difficulty drives bitcoin price directly, so there might well be no effect. A bearish outlook could thus be based on the belief that bitcoin is de facto backed by energy, since it is a proof-of-work-based currency.
That the world would be in uproar is a given, its only about the value bitcoin would have in such a scenario.
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