Parallel Structures on Nostr: Would free energy cripple bitcoin's proof - of-work model? According to Tesla's ...
Would free energy cripple bitcoin's proof - of-work model? According to Tesla's writings, he discovered free energy in the early 1900's.
I was contemplating the implications for bitcoin; only 8% of the supply remains to be mined. Free energy would only remove the energy cost for mining the remaining coins and processing transactions. There would still be the cost of the infrastructure.
Would this really affect the value of bitcoin so much? I don't think so. The benefit is that the network would be less expensive to maintain. After most the supply is mined, the system still needs to be profitable for those processing transactions. Energy being free would help keep transaction fees down.
I was contemplating the implications for bitcoin; only 8% of the supply remains to be mined. Free energy would only remove the energy cost for mining the remaining coins and processing transactions. There would still be the cost of the infrastructure.
Would this really affect the value of bitcoin so much? I don't think so. The benefit is that the network would be less expensive to maintain. After most the supply is mined, the system still needs to be profitable for those processing transactions. Energy being free would help keep transaction fees down.
quoting nevent1q…e705New conspiracy theory:
1) free limitless energy/antigravity technology exists.
2) public disclosure of this technology will cause societal chaos.
3) Bitcoin was invented to incentivize continued suppression of this tech (because what value is proof of work if work is free?)
May I have my tin foil crown back now, please?