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Title: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: telemaco on August 06, 2013, 02:44:31 AM http://www.youtube.com/watch?v=VEnkQGv-orY
Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: Kazu on August 06, 2013, 04:04:28 AM http://www.youtube.com/watch?v=VEnkQGv-orY watTitle: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: ElectricMucus on August 06, 2013, 08:16:36 AM Will a peak oil economy be able to sustain a bitcoin mining economy? Yes they would, but that's the wrong question.Should they? I think not. That however has nothing to do with depletion of resources and more with the way resources are used. Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: Zarathustra on August 06, 2013, 08:24:46 AM http://www.youtube.com/watch?v=VEnkQGv-orY Never ever would it be able to. An economy (labor division of divided laborers, aka civilization/collectivism) is always state-,debt- and energy-based and therefore predetermined to collapse. As soon as debt/credit disappears, the values and transactions disappear as well. Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: btcapparel on August 08, 2013, 02:04:12 AM Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever... :(
Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: Cluster2k on August 09, 2013, 12:45:29 AM Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever... :( The oil is never 'finished'. Production will never cease under Peak Oil theory and it will always be available. What Peak Oil does predict is that demand will eventually outstrip supply because supply falls. The price (in real terms) then rockets up as customers compete for what's available. Many people become priced out of the market and cannot buy fuel or the products its made from. But oil never actually runs out. How will that affect bitcoin? Well, if the situation ever arises I think we have far more important things to worry about than an internet commodity. Like food, water, and security. Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: Kazu on August 09, 2013, 02:15:57 AM Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever... :( The oil is never 'finished'. Production will never cease under Peak Oil theory and it will always be available. What Peak Oil does predict is that demand will eventually outstrip supply because supply falls. The price (in real terms) then rockets up as customers compete for what's available. Many people become priced out of the market and cannot buy fuel or the products its made from. But oil never actually runs out. How will that affect bitcoin? Well, if the situation ever arises I think we have far more important things to worry about than an internet commodity. Like food, water, and security. "How does that affect Bitcoin? It means it will eventually underperform XOM." Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: btcapparel on August 10, 2013, 11:22:46 PM Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever... :( The oil is never 'finished'. Production will never cease under Peak Oil theory and it will always be available. What Peak Oil does predict is that demand will eventually outstrip supply because supply falls. The price (in real terms) then rockets up as customers compete for what's available. Many people become priced out of the market and cannot buy fuel or the products its made from. But oil never actually runs out. How will that affect bitcoin? Well, if the situation ever arises I think we have far more important things to worry about than an internet commodity. Like food, water, and security. I think we hit peak oil around a decade ago, the price rose above $100 in the few years after and has never really fallen below that for any significant period of time, despite record prices, oil companies havent bothered to make new refiniries as they take around 30-40 years to ROI(including build time, planning etc) and if they arent building them while making records profits annually then they must know more than what they let on But the oil will eventually run out as its a finite resource... Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: Ytterbium on August 11, 2013, 05:04:56 PM Peak oil was like 2006.
US greenhouse gas emissions are actually dropping, so we're using less oil (but more Natural Gas) There is more then enough sunlight to power the world, the only problem right now is short term cost and the fact that it's expensive to store it for use at night. Title: Re: Will a peak oil economy be able to sustain a bitcoin mining economy? Post by: jspielberg on August 12, 2013, 01:01:17 PM I am bullish on flywheel energy storage:
http://en.wikipedia.org/wiki/Flywheel_energy_storage |