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Author Topic: What happens to Bitcoin when free energy is available?  (Read 7767 times)
Xialla
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May 11, 2015, 05:24:18 PM
 #81

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.
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May 11, 2015, 05:26:21 PM
 #82

Oh dear.

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.
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May 11, 2015, 05:26:34 PM
 #83

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.

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.

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May 11, 2015, 05:33:16 PM
 #84

free energy ??

Water from river ??

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May 11, 2015, 06:03:00 PM
 #85

free energy ??

Water from river ??

I feel that he might be talking about perpetual motion nonsense.
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May 12, 2015, 01:56:14 AM
 #86

then everyone would be jumping on a hardware, 1st to flip then using the profit to get a free hardware as small investment.

similar to the rush of how BFL`s back then when 5 gh/s, until everyone can get one on their hands.

i say this based on experience, and its cause theres limited hardware already available.

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May 12, 2015, 10:19:09 AM
 #87

maybe everyone will use their free energy to mine and the difficulty would increase making mining with free energy will be 0.0001% profitable meaning it generally wont be worth it
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May 12, 2015, 11:43:10 AM
 #88

https://en.wikipedia.org/wiki/Jevons_paradox

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May 12, 2015, 12:18:33 PM
 #89

People will buy as many ASIC as they can
But, soon they will realize that was useless because there are too many people do it which made bitcoin difficult greatly increased & they won't get ROI

But, the miners who already got ROI will continue mining forever

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May 12, 2015, 12:32:04 PM
 #90

It would be able to do useful work.
Asrael999
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May 12, 2015, 01:10:19 PM
 #91

If free energy Bitcoin and all other currencies are worthless,

why?

Free Energy implies infinite energy since demand will scale with price -> price to 0 -> infinite demand.
infinite Energy implies infinite resources, which in turn replies no wants or needs that cannot be instantly gratified at no cost.
No cost implies that currency,assets and ownership are meaningless.
It's a very different basis for an economy.
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May 12, 2015, 10:46:48 PM
 #92

If this did really happen, and there was a way to get free energy, the mining scene would be done within less then a year also.

the question then becomes, what happens after all the bitcoin has been mined. does the market fee for transaction go up ridiculously to still support the network.

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May 12, 2015, 11:48:08 PM
 #93

It would be able to do useful work.

umm, you mean miners to work for you right lol.

But yeah, all this means is no one has to worry about on-going cost so pure profit regardless of value going up or down.

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May 13, 2015, 12:09:27 AM
 #94

It would be able to do useful work.

umm, you mean miners to work for you right lol.

But yeah, all this means is no one has to worry about on-going cost so pure profit regardless of value going up or down.

http://en.wikipedia.org/wiki/Thermodynamic_free_energy
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May 13, 2015, 02:30:48 AM
 #95

Energy requires resources.

Resources are scarse. Desires are not.

In Star Trek universe, Holodeck comes into play.

http://en.wikipedia.org/wiki/Holodeck

And we don't need Bitcoin anymore.


resources are unlimited in Star Trek. They have replicators.

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May 13, 2015, 02:32:48 AM
 #96

You mean what happens when the first and second laws of thermodynamics get repealed?

insert coin here:
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May 13, 2015, 10:07:32 AM
 #97

In case people are wondering OP probably means exotic regenerative energy technologies.
You can find many examples on the website http://pesn.com/

To his answer his question, the initial arrival of such technologies will not affect the use of money much. Mining will still cost money, even if the electricity is really cheap, because you will still need to make the hardware. The difficulty will adjust accordingly.

In the long run, decades is my guess, money will become practically obsolete though, because "free energy" will make everything incredibly cheap. The bigger effect IMHO will be on the minds of people, having realized how much they have been deceived, and realizing that scarcity is artificial.

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May 13, 2015, 12:01:05 PM
 #98


In the long run, decades is my guess, money will become practically obsolete though, because "free energy" will make everything incredibly cheap. The bigger effect IMHO will be on the minds of people, having realized how much they have been deceived, and realizing that scarcity is artificial.


That's a typical utopian fallacy, frankly. Things are "incredibly cheap" already today in the western world if you think about it. Getting enough food is not a problem even for the poorest. Clothing neither (though still produced in sweatshops in the 3rd world unfortunately, but that issue will be solved also with automation). Housing may be the biggest cost factor of every day life. But the problem is not with the materials required for housing. It's about supply and demand. Living in the middle of nowhere is cheap. But if you need to live in or near the city, where infrastructure and jobs are, there is great demand, hence high prices. So some essential things will always remain scarce, even if only from a very subjective viewpoint.

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afbitcoins
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May 14, 2015, 09:58:39 PM
 #99

In case people are wondering OP probably means exotic regenerative energy technologies.
You can find many examples on the website http://pesn.com/

To his answer his question, the initial arrival of such technologies will not affect the use of money much. Mining will still cost money, even if the electricity is really cheap, because you will still need to make the hardware. The difficulty will adjust accordingly.

In the long run, decades is my guess, money will become practically obsolete though, because "free energy" will make everything incredibly cheap. The bigger effect IMHO will be on the minds of people, having realized how much they have been deceived, and realizing that scarcity is artificial.


Thanks for that link, looks interesting. Although why do websites like that always look a bit retro naff?

I can easily believe free energy is being supressed. Free energy (at least as I understand it doesnt mean anything about disobey laws of thermodynamics it just refers to endless abundance of ambiant energy/electricity around us.

Anyway with regards to bitcoin who knows? Id guess free energy would make money less important. Probably main reason it is repressed.
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May 14, 2015, 10:18:02 PM
 #100


In the long run, decades is my guess, money will become practically obsolete though, because "free energy" will make everything incredibly cheap. The bigger effect IMHO will be on the minds of people, having realized how much they have been deceived, and realizing that scarcity is artificial.


That's a typical utopian fallacy, frankly. Things are "incredibly cheap" already today in the western world if you think about it. Getting enough food is not a problem even for the poorest. Clothing neither (though still produced in sweatshops in the 3rd world unfortunately, but that issue will be solved also with automation). Housing may be the biggest cost factor of every day life. But the problem is not with the materials required for housing. It's about supply and demand. Living in the middle of nowhere is cheap. But if you need to live in or near the city, where infrastructure and jobs are, there is great demand, hence high prices. So some essential things will always remain scarce, even if only from a very subjective viewpoint.

Lol you are delusional. More and more poverty is appearing in so called "first world countries". You can find tons of poverty in Greece, and even spain, portugal, etc and it will keep spreading as time goes on and we see austerity measures are a scam, without even considering the elephant in the room: the future and even current fact of automation replacing jobs forever.

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