Bitcoin Will Eat the World

[so98nn]

There is an apocalyptic scenario in which Bitcoin eats the world. In this scenario, a bitcoin becomes so valuable that no other activity is worth more than mining bitcoins, and all the power and resources in the world are devoted solely to Bitcoin mining.
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Note: this is a moderated topic. Off-topic replies will be removed. I'm not interested in price speculation and unsupported claims.

I won't go further this line of your post since in any apocalyptic scenario as, world wouldn't gather power just to dedicate it to mine bitcoin. What would be the purpose?

Besides transacting bitcoin isn't helpful in any damn scenario in this world. (Apocalyptic).

If they needed one energy to produce another and if bitcoin goes as far as eating the world then they will simply produce another technology with much smarter use of energy.

I mean why one would keep using a tech if it's getting over their heads? We are intelligent species, if did invent the bitcoin then we could do more than that if such apocalyptic scenario stumbles upon us.

[Sebas.tian]

It's amazing what friend say about mining and the use of electricity for mining is of course very special if that happens, but we know that not all will be interested in bitcoin mining. because maybe also the risk of mining is not easy and it must be taken into account in all aspects before you really want to mine.

Basically the risk refer to by you is the electricity consumption involved in the mining of Bitcoin. The fact still remain that there is much use of electricity in the mining of Bitcoin  but if this technology get into global adoption there will be more companies which will be more interested in providing electricity for this purpose. There are possibility of we seeing a better way of managing this risk for our good IMO.

[Broly46]

By first bitcoin would eat the fiat and render it worthless and all the fiat billionaire are rendered pointless since they have no coiner but fiat garbage, and bitcoiner shine like the rare Pokemon, next everything that backed by fiat also come to worthless, that include your favourite pizza, you can’t measure with how many pizza you can purchase with one satoshi anymore by the time, because the worthlessness fiat has eat all the fiat billionaire accumulated wealth and hence their products too.

[doomistake]

When this happens, the ones that's going to be benefited by this are those countries that have cheap electricity rates like those in the middle east. By their natural gas production just like in Qatar and a net exported of energy, they have the most cheap electricity rate in the world which is an ideal place to put a mining company in order to adopt the continuous Bitcoin revolution that will eventually surprise the whole world.

We may not know when this will happen but seeing it in the future happening is not imposible anymore.

[mnporter2001]

This is also a very good scenario for Bitcoin becoming a common and scarce currency.
And not only is electricity prices affected, but the whole world has to access the internet every day to earn more income. When electricity bills go up and the demand for the internet is also soaring, won't technology corporations take ownership of the world?
Based on the high demand for internet usage, carriers will therefore also increase network usage fees and take the initiative in all the rules they have set, even they may force users.

[Ryker1]

Well, the production should meet only with the amount needed. If the world currently producing 26 PWH of electricity every year that is because the world just needed such amount, -- producers will not go beyond it for it may just go to waste and if the OP's assumption really comes, then electric companies will be prepared to meet it's requirements aside from the regular amount of electricity for the other industries and household consumption. Though it may happen in the future one thing I am pretty sure of is that it will never happen in this lifetime.

[CarnagexD]

Mutiny is always at hand in a setup like this. And besides, humans are always there to find a loophole. Not like bitcoin is an limitless source to begin with. This is if the the supplier of energy was able to keep up with this. Plus thid would happen fast because companies ars etoher gonna ride the wave that is bitcoin and would cause for the supply of bitcoin to deplete even faster.