free energy ??
Water from river ??
Topic: What happens to Bitcoin when free energy is available? - page 3. (Read 8927 times)
Energy can't be free. What can be is abundant, and we are going to get there eventually. When they try to tax stuff like the sun, they know they are lossing the battle and asking for a revolution. Fuck paying for the god damn sun! the sun is for everyone, everyone should be free to install solar panels and get "free" energy in the economical sense.
As for BTC, its only good news, since it means everyone being able to benefit from abundant energy without costs beyond the initial installation of the machine will be able to be a miner = stronger network.
As for BTC, its only good news, since it means everyone being able to benefit from abundant energy without costs beyond the initial installation of the machine will be able to be a miner = stronger network.
It depends how hot the sun is where you live. I know someone with solar panels who calculated they would pay for themselves in about 150 years. He doesn't live in a very hot country.
Oh dear.
What happens when something that cannot physically happen, happens.
I think you've been reading too many conspiracy theories.
What happens when something that cannot physically happen, happens.
I guess the gov and other rich companies raided these inventors and thus oil continues to rain..
I think you've been reading too many conspiracy theories.
free energy? no..sorry. you will have to always pay for infrastructure or some device, which will gather it from some nature sources. and don't forget one think is price and other one is limitation. in current setup, price is somehow limiting...and this will never change. ever.
Energy can't be free. What can be is abundant, and we are going to get there eventually. When they try to tax stuff like the sun, they know they are lossing the battle and asking for a revolution. Fuck paying for the god damn sun! the sun is for everyone, everyone should be free to install solar panels and get "free" energy in the economical sense.
As for BTC, its only good news, since it means everyone being able to benefit from abundant energy without costs beyond the initial installation of the machine will be able to be a miner = stronger network.
As for BTC, its only good news, since it means everyone being able to benefit from abundant energy without costs beyond the initial installation of the machine will be able to be a miner = stronger network.
Energy is what drives economic production and innovation. If energy were to be truly free and unlimited, we would eventually attain something close to a post-scarcity economy although it would take us a while to get there. Prices for goods will continue to drop every year and the abundance of energy would accelerate advances in manufacturing and the creation of factories which would in turn drive this process even faster. It's likely that the role of money in such a society would change significantly, or it may become obsolete altogether.
If you want to think of the issue in terms of just mining rather than in a broader societal context (i.e. zero electricity costs for miners but everything else remains the same), then it wouldn't be all that different from today. Those with the most hashpower would still be mining the most blocks. And only those with lots of money already would be able to buy massive warehouses and fill them up with the latest machines - as both of these would still be limited in quantity.
If you want to think of the issue in terms of just mining rather than in a broader societal context (i.e. zero electricity costs for miners but everything else remains the same), then it wouldn't be all that different from today. Those with the most hashpower would still be mining the most blocks. And only those with lots of money already would be able to buy massive warehouses and fill them up with the latest machines - as both of these would still be limited in quantity.
Post-scarcity economy may change how society organize itself. Money will no longer be the prime motivation factor.
There will never be free energy. Too many greedy people to allow that to happen.
Energy is what drives economic production and innovation. If energy were to be truly free and unlimited, we would eventually attain something close to a post-scarcity economy although it would take us a while to get there. Prices for goods will continue to drop every year and the abundance of energy would accelerate advances in manufacturing and the creation of factories which would in turn drive this process even faster. It's likely that the role of money in such a society would change significantly, or it may become obsolete altogether.
If you want to think of the issue in terms of just mining rather than in a broader societal context (i.e. zero electricity costs for miners but everything else remains the same), then it wouldn't be all that different from today. Those with the most hashpower would still be mining the most blocks. And only those with lots of money already would be able to buy massive warehouses and fill them up with the latest machines - as both of these would still be limited in quantity.
If you want to think of the issue in terms of just mining rather than in a broader societal context (i.e. zero electricity costs for miners but everything else remains the same), then it wouldn't be all that different from today. Those with the most hashpower would still be mining the most blocks. And only those with lots of money already would be able to buy massive warehouses and fill them up with the latest machines - as both of these would still be limited in quantity.
How about tesla powerwall.
Edit: not free, but at least gonna be much cheaper in future.
Edit: not free, but at least gonna be much cheaper in future.
So yeah i keep getting lost in thought on this one whats your take on it?
Energy is Free, harvesting it is not.Here is a recent related development: 2kw generator which consumes no fuel.
http://intalek.com/AuroraTekInfo/PUP3000UC_SpecSheet.pdf
The ROI is currently a little low, but like cellphones did, the price will come down as production ramps up.
For those who do not want to wait, build your own Open Source DC only version much cheaper.
Graham Gunderson has pledged to make his design Open Source in July 2015.
http://patents.justia.com/inventor/graham-gunderson
Estimated cost of materials is $200/kw for the DC only (no AC inverter) DIY Open Source design.
Apparently energy consumption can't keep growing at the current rate for more than a few centuries.
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/
http://physics.ucsd.edu/do-the-math/2011/07/galactic-scale-energy/
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/
http://physics.ucsd.edu/do-the-math/2011/07/galactic-scale-energy/
Yes. Energy is about as cheap as it's ever going to be, regardless of technological advances.
Computing power efficiency, on the other hand, may increase enough to make energy seem much cheaper. Bitcoin has an in-built compensatory mechanism for this: Difficulty.
Energy requirements in the next half century poses a huge problem.
MIT's Nocera promotes the idea of personal energy. To leverage simplicity at the cost of efficiency to mass produce home-based power plants and likens it to the economy of scale of the McDonald's hamburger.
http://vimeo.com/8194089
Apparently energy consumption can't keep growing at the current rate for more than a few centuries.
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/
http://physics.ucsd.edu/do-the-math/2011/07/galactic-scale-energy/
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/
http://physics.ucsd.edu/do-the-math/2011/07/galactic-scale-energy/
Yes. Energy is about as cheap as it's ever going to be, regardless of technological advances.
Computing power efficiency, on the other hand, may increase enough to make energy seem much cheaper. Bitcoin has an in-built compensatory mechanism for this: Difficulty.
Apparently energy consumption can't keep growing at the current rate for more than a few centuries.
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/
http://physics.ucsd.edu/do-the-math/2011/07/galactic-scale-energy/
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/
http://physics.ucsd.edu/do-the-math/2011/07/galactic-scale-energy/
More than likely the mining pools today will be the multi-national conglomerates of the future. We will all be slaves to them with our Brain Miner modules attached.
So the conclusion is physical space, and inital startup costs of "free" energy and assuming everything is usually costly that bitcoin diffuculty will raise slowly overtime. Causing basically no difference in supply and demand assuming miners are still receving block rewards(+transaction fees rewards). But if we are not recieving rewards and just transactions fee rewards then i guess with "free" energy bitcoins transactions would be inhertly unbreakable with free energy scince the whole world in theory could eventually aquire free energy over time and all help btc transactions.
The grammar is incorrect in the title. It should be "What happens to Bitcoin IF free energy is available?" The premise that it's going to happen and is inevitable is inherently flawed, as no one has shown it works or is even possible.
If free energy becomes available then what happens to bitcoin is pretty much irrelevant: all of humanity will experience a revolution in living standards.
If free energy becomes available then what happens to bitcoin is pretty much irrelevant: all of humanity will experience a revolution in living standards.
Before we have "free energy" we will have AI beyond human capabilities. Bitcoin will evolve into a tool not for acquiring what you simply want, but instead what you really need. They will read your mind (at the very least through lie detection) and create a global economy that fosters self-actualization in civilization itself.
The discovery of "Free Energy" would not change the world in an instant.
It would still take time to make enough machines to replace the existing energy infrastructure.
Things would gradually become cheaper and cheaper. There would still be a need for some kind of money in the economy.
Eventually after many years or decades things would become so cheap that money might become obsolete.
Since Free Energy would disrupt the existing power elites who connected to the financial elites, it's possible that people might choose Bitcoin as an alternative form of currency.
Most importantly though the discovery of Free Energy would change the mindset of people worldwide from one of scarcity to abundance.
It would still take time to make enough machines to replace the existing energy infrastructure.
Things would gradually become cheaper and cheaper. There would still be a need for some kind of money in the economy.
Eventually after many years or decades things would become so cheap that money might become obsolete.
Since Free Energy would disrupt the existing power elites who connected to the financial elites, it's possible that people might choose Bitcoin as an alternative form of currency.
Most importantly though the discovery of Free Energy would change the mindset of people worldwide from one of scarcity to abundance.
This topic has a good point and it's being ruined by SCIENCE.
What happens when power is cheap to the point that you can run an overclocked GPU for a penny a year? That was what the question should have been as it's actually a good question. Does the value of bitcoin drop or does the price of the GPU back it then? And if so, what happens when the CPUs, GPUs and ASICs that "crack" those "passwords" are manufactured for $1 per minirig? What happens to Bitcoin and the network?
Yeah exactly what i was trying to ask thanks for clearing that up matt. What happens when power is cheap to the point that you can run an overclocked GPU for a penny a year? That was what the question should have been as it's actually a good question. Does the value of bitcoin drop or does the price of the GPU back it then? And if so, what happens when the CPUs, GPUs and ASICs that "crack" those "passwords" are manufactured for $1 per minirig? What happens to Bitcoin and the network?
The entire world changes. A total change in societal power structures. Bitcoin would be useful still, but it's cost of production would plummet to the cost of the rigs and time required to run them. Thus, the network difficulty would go vertical. And wind power is not free because you have to build turbines. Perhaps I am misunderstanding this concept. I am thinking in terms of a unlimited power source available to all.
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