One thought I haven't seen here is this: Let's assume Bitcoin stays and keeps getting more valuable per btc. Due to the increasing price per khw, mining on the

One thought I haven't seen here is this: Let's assume Bitcoin stays and keeps getting more valuable per btc. Due to the increasing price per khw, mining on the power grid is outlawed, and let's assume for now that law can actually be enforced. What's stopping miners from generating the energy themselves? They, at least the largest ones, have enough money to actually build and maintain power plants. Cheap and dirty coal power for example. Mining would happen close to the plant, they'd cut out the middle man, and while they're at it, why not generate 12VDC instead of 220VAC, they wouldn't even need high efficiency PSUs anymore. I think this is a real threat to Bitcoin. They mostly mine in China because energy is cheap and the ICs are made there, but as soon as commercial mining is outlawed, they can go someplace the rules aren't as strict, or as enforceable. Think third world countries.