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What will bitcoiners do when the inevitable happens- inflation and green energy polices raise the price of electricity... I guess they can pick up and move som

by filed 5y ago

What will bitcoiners do when the inevitable happens- inflation and green energy polices raise the price of electricity... I guess they can pick up and move somewhere if it gets banned. In the meantime they can partner with green energy, raising electricity prices or cost to mine bitcoin which helps push up the price of bitcoin. All while pretending to be green- encouraging wind expansion and hoping for blackouts which they can also profit from - wild swings in prices makes them also enron energy traders. This will encourage more POW coins... lets launch even more tokens with POW.

nybble41 5y ago
> raising electricity prices or cost to mine bitcoin which helps push up the price of bitcoin The price of bitcoin is not driven by electricity prices, or more generally by the cost of mining. Bitcoin supply works at a fixed rate: one new block of 6.25 BTC is mined (on average) every ten minutes. Every four years the BTC reward per block is cut in half. More mining effort (higher hash rate) just raises the difficulty threshold so that the interval remains 10 minutes per block. Lower mining effort, of course, has the opposite effect. Higher mining costs would drive marginal miners out of business and lower the hash rate but otherwise have no impact on the supply of new bitcoins or the ability to process transactions.