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Question: If Electric would become extremely cheap, almost free, what would happen to the bitcoin price (yes its a hypothetical questions)  (Voting closed: June 30, 2013, 08:49:09 PM)
No effect on Bitcoin price - 38 (74.5%)
Bitcoin price completely collapses - 3 (5.9%)
Price goes up - 5 (9.8%)
Bitcoin price don't matter any more - 1 (2%)
Don't know will leave comment below - 3 (5.9%)
Price goes down - 1 (2%)
Total Voters: 48

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manfred (OP)
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June 21, 2013, 08:49:09 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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June 21, 2013, 08:53:09 PM
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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.
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notme
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June 21, 2013, 09:31:48 PM
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Quote from: manfred on June 21, 2013, 08:49:09 PM
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.
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June 22, 2013, 01:43:27 AM
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I think you missed an option... that is the price goes down!
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