0 sats \ 1 reply \ @Chep OP 6 Oct 2023 \ parent \ on: The United States added over a quarter trillion of debt in 1 day meta
Interesting perspective. When you say bitcoin will start losing its quote price do you mean that people will just use btc as the new unit of account instead of dollars? If so I do agree. I just attended an excellent meetup in NYC discussing how bitcoin is the solution to negative prices for energy during times of low demand (it still blows my mind there are actual times when energy producers must pay people to take energy off their hands). Bitcoin will completely eliminate this need since miners will be able to monetize all excess energy.
Yes exactly, I agree. I think energy storage (a solution for the renewable energy intermittence problem) occupies the same unique space that bitcoin miners do, and both of these will fuse together, transitioning between whichever is more profitable in any given hour, hell maybe even less, in any given block period. We should assume photonics (for microchips/silicon) will be standard within the next 20 years as well. That could mean there is no significant competitive advantage amongst mining silicon since the limit will always be the size of a light wavelength (photon).
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