What happens to Bitcoin when free energy is available? - page 5.

Xenland

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I'm not just any shaman, I'm a Sha256man

Quote from: AmpEater on July 26, 2012, 05:24:59 PM

Quote from: Xenland on July 25, 2012, 08:31:52 PM

I'm talking about these techonoliges i've heard about investors creating stuff in the past 100 years or so where the cost of electricity to run batteries generates more energy then it takes to run the batteries. I guess the gov and other rich companies raided these inventors and thus oil continues to rain.. I digress. What will happen in this case of free energy?

Sigh

Yes i know that "blah blah blah blah blah" but you never knows maybe some science have been suppressed to keep us under "their" control. (Who ever "They" are)

AmpEater

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Quote from: Xenland on July 25, 2012, 08:31:52 PM

I'm talking about these techonoliges i've heard about investors creating stuff in the past 100 years or so where the cost of electricity to run batteries generates more energy then it takes to run the batteries. I guess the gov and other rich companies raided these inventors and thus oil continues to rain.. I digress. What will happen in this case of free energy?

Sigh

thezerg

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Quote from: MrTeal on July 26, 2012, 10:10:41 AM

Quote from: arepo on July 26, 2012, 06:15:48 AM

Quote from: thezerg on July 25, 2012, 07:13:15 PM

Actually the fascinating concept here is energy storage or transmission using the bitcoin network. What i mean by this is if extra solar or wind capacity is used to mine BTC, and conversely BTC miners shut down during peak hours regionally, we will have the same effect as if excess energy in in one region was sold and transmitted to another region. But without transmission losses! Bitcoin is awesome!

could you explain this more rigorously?

I believe what he's getting at is something like this. Let's say there's two huge 100TH/s mining farms, one in California and one in India. The idea is that during the day in California you shut down the rig there while running in India, and during the night (day in India) you turn on the Cali rig and shut down the Indian rig. The network hashrate contribution stays constant at 100TH/s, but in effect since the load is on only during the best times it's like transmitting the power.

Exactly! The major issue with solar, wind, etc is that it is inconsistent. And actual energy storage options (pumping water into lakes on top of mountains, air into the ground) are inefficient.

Another way to think of it is that the existence of a reliable way to convert excess energy supply to money allows energy providers to over-build infrastructure that harvests this "free" energy. Today these are underbuilt and excess demand is filled by expensive and environmentally unsound options like burning dirty coal...

MrTeal

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Quote from: jojo69 on July 26, 2012, 10:23:53 AM

Quote from: minorman on July 26, 2012, 07:02:13 AM

Energy will only get more expensive as far as the eye can see.

Oh - and if you think there is a technological fix (fusion, say) read this:
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/

outstanding...thank you

Agreed. I'm sure it's a contrived conversation, but it was entertaining nonetheless.

jojo69

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diamond-handed zealot

Quote from: minorman on July 26, 2012, 07:02:13 AM

Energy will only get more expensive as far as the eye can see.

Oh - and if you think there is a technological fix (fusion, say) read this:
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/

outstanding...thank you

MrTeal

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Quote from: arepo on July 26, 2012, 06:15:48 AM

Quote from: thezerg on July 25, 2012, 07:13:15 PM

Actually the fascinating concept here is energy storage or transmission using the bitcoin network. What i mean by this is if extra solar or wind capacity is used to mine BTC, and conversely BTC miners shut down during peak hours regionally, we will have the same effect as if excess energy in in one region was sold and transmitted to another region. But without transmission losses! Bitcoin is awesome!

could you explain this more rigorously?

I believe what he's getting at is something like this. Let's say there's two huge 100TH/s mining farms, one in California and one in India. The idea is that during the day in California you shut down the rig there while running in India, and during the night (day in India) you turn on the Cali rig and shut down the Indian rig. The network hashrate contribution stays constant at 100TH/s, but in effect since the load is on only during the best times it's like transmitting the power.

minorman

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Energy will only get more expensive as far as the eye can see.

Oh - and if you think there is a technological fix (fusion, say) read this:
http://physics.ucsd.edu/do-the-math/2012/04/economist-meets-physicist/

arepo

sr. member

Activity: 448

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this statement is false

Quote from: thezerg on July 25, 2012, 07:13:15 PM

Actually the fascinating concept here is energy storage or transmission using the bitcoin network. What i mean by this is if extra solar or wind capacity is used to mine BTC, and conversely BTC miners shut down during peak hours regionally, we will have the same effect as if excess energy in in one region was sold and transmitted to another region. But without transmission losses! Bitcoin is awesome!

could you explain this more rigorously?

mp420

hero member

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There will never be such thing as free energy. Did you mean cheap energy? Energy is already cheap, it's very close to cheapest it has ever been.

I wonder what's going to happen to Bitcoin when energy gets expensive.

bb113

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Quote from: Xenland on July 26, 2012, 01:18:03 AM

Quote from: bb113 on July 26, 2012, 12:24:25 AM

Also:

Quote from: Xenland on July 25, 2012, 08:31:52 PM

I'm talking about these techonoliges i've heard about investors creating stuff in the past 100 years or so where the cost of electricity to run batteries generates more energy then it takes to run the batteries. I guess the gov and other rich companies raided these inventors and thus oil continues to rain.. I digress. What will happen in this case of free energy?

*investors/=inventors. That is a bad typing slip.

FTFY

I don't want to go OT because actually I think this discussion of how bitcoins, or at least things like it, are energy credits is really important to realize. But just because it came out of your fingers rather than vocal cords doesn't make it less a Freudian slip. We should also consider the power of spell checkers to encourage certain fraudian slips over others.

Xenland

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I'm not just any shaman, I'm a Sha256man

Quote from: bb113 on July 26, 2012, 12:24:25 AM

Also:

Quote from: Xenland on July 25, 2012, 08:31:52 PM

I'm talking about these techonoliges i've heard about investors creating stuff in the past 100 years or so where the cost of electricity to run batteries generates more energy then it takes to run the batteries. I guess the gov and other rich companies raided these inventors and thus oil continues to rain.. I digress. What will happen in this case of free energy?

*investors/=inventors. That is a bad typing slip.

FTFY

bb113

hero member

Activity: 728

Merit: 500

Also:

Quote from: Xenland on July 25, 2012, 08:31:52 PM

I'm talking about these techonoliges i've heard about investors creating stuff in the past 100 years or so where the cost of electricity to run batteries generates more energy then it takes to run the batteries. I guess the gov and other rich companies raided these inventors and thus oil continues to rain.. I digress. What will happen in this case of free energy?

*investors/=inventors. That is a bad Freudian slip.

Yuhfhrh

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Quote from: bb113 on July 26, 2012, 12:00:03 AM

The energy won't really be free, we would be siphoning it from another dimension or something. Once they figure out what is going on, clearly those beings would come to control the cost of transactions. In essence bitcoins are energy credits. They are the ideal inter-dimensional currency.

Perfect!

bb113

hero member

Activity: 728

Merit: 500

The energy won't really be free, we would be siphoning it from another dimension or something. Once they figure out what is going on, clearly those beings would come to control the cost of transactions. In essence bitcoins are energy credits. They are the ideal inter-dimensional currency.

Xenland

legendary

Activity: 980

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I'm not just any shaman, I'm a Sha256man

Quote from: adamstgBit on July 25, 2012, 11:31:43 PM

Quote from: phelix on July 25, 2012, 11:28:08 PM

What happens with ALIENS? They probably have real fast computers.

why do a 51% attack
when you can calculate the human race out of existence

Everyone knows aliens are trolls

adamstgBit

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Trusted Bitcoiner

Quote from: phelix on July 25, 2012, 11:28:08 PM

What happens with ALIENS? They probably have real fast computers.

why do a 51% attack
when you can calculate the human race out of existence

phelix

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What happens with ALIENS? They probably have real fast computers.

beckspace

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I asked Multivac and the response was:

"INSUFFICIENT DATA FOR MEANINGFUL ANSWER."

I'll try again later...

http://www.multivax.com/last_question.html

Serge

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Quote from: niko on July 25, 2012, 10:38:48 PM

If unlimited energy were freely available to everyone all the time, everything would become a hobby. Including Bitcoin. Time would become the limiting factor, not money.

yes, money would become irrelevant

niko

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Activity: 756

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There is more to Bitcoin than bitcoins.

If unlimited energy were freely available to everyone all the time, everything would become a hobby. Including Bitcoin. Time would become the limiting factor, not money.

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