What happens to Bitcoin when free energy is available?

[Joric]

What energy is free?  Like hamsters going in a wheel?

If they wouldn't eat.. Damn, I pay almost less for my own dinner..

Heard someone just tried 51% attack on LTC. Easy with those hamsters!

[Cranky4u]

What energy is free?  Like hamsters going in a wheel?

If they wouldn't eat.. Damn, I pay almost less for my own dinner..

Heard someone just tried 51% attack on LTC. Easy with those hamsters!

successful attack or rejected?

[mooseman99]

Many landlords include electricity in the rent, and at some universities electricity is free, so some people may already have "free" energy.

[ElectricMucus]

What energy is free?  Like hamsters going in a wheel?

If they wouldn't eat.. Damn, I pay almost less for my own dinner..

Heard someone just tried 51% attack on LTC. Easy with those hamsters!

successful attack or rejected?

ongoing, claimed to be.

But are you living under a rock? The Alternate Cryptocurrency Forum has been the source of so much Drama lately it wouldn't surprise me if Ebaumsworld got wind if it. 

[niko]

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.

[Serge]

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

[beckspace]

I asked Multivac and the response was:

"INSUFFICIENT DATA FOR MEANINGFUL ANSWER."

I'll try again later...

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

[phelix]

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

[adamstgBit]

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

[Xenland]

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

[bb113]

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.

[Yuhfhrh]

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]

Also:

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.

[Xenland]

Also:

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]

Also:

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.

[mp420]

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.

[arepo]

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?

[minorman]

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/

[MrTeal]

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.

[jojo69]

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