Author

Topic: Bitcoin price opinion needed (poll) (Read 681 times)

full member
Activity: 224
Merit: 100
June 21, 2013, 09:43:27 PM
#4
I think you missed an option... that is the price goes down!
legendary
Activity: 1904
Merit: 1002
June 21, 2013, 05:31:48 PM
#3
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.
hero member
Activity: 784
Merit: 1000
Annuit cœptis humanae libertas
June 21, 2013, 04:53:09 PM
#2
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.
legendary
Activity: 966
Merit: 1001
Energy is Wealth
June 21, 2013, 04:49:09 PM
#1
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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