Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Debunking the waste of energy argument against Bitcoin
by
richardsNY
on 22/02/2018, 20:58:26 UTC
⭐ Merited by d5000 (1)
This could also have side-effects in the future: if the mining industry continues to grow, its demand could have impact in the price of renewable energy. Now the effect is negligible, but I predict if it continues to grow, we would have a similar effect on solar panels and wind turbines that now occurs with graphic cards.

That's pretty much a logical event. If it doesn't happen naturally, large players in the market will increase the price artificially because those who are in need will buy it anyway. It's basically you being able to ask any price (obviously in relative terms) if the demand for energy and other products keeps increasing like we (at least I) expect it to do. As long as the price keeps going up, which will definitely happen long term speaking, it will likely even out the potentially higher cost price of hardware and electricity that miners depend on. For that reason I don't see it be much of a problem for miners itself. It however will impact those (non crypto entities) who need the same resources as miners. It's going to be interesting to see how this will play out in the future....