nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle what happens to bitcoin in a peak oil reality where energy costs spike?
Maybe this is a dumb question but I’m still getting a play of The land here.
Bitcoin hydro eplodes? Also Nuclear mining farms take off.
But that's going to happen anyway. Peak oil is a myth. We are not running out of oil. Every decade since the 1960's we move out peak oil - technology fixes the supply.
And electric will be felt in early 2030's and oil will be left in the ground.
Great book, "Principles of Economics" by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
Energy costs will spike in US$ terms, but not likely in terms of #Bitcoin.
Thanks Fred, good perspective. I don’t agree about Peak Oil being a myth. Too much data coming out of our biggest oil fields communicating a downward trend.
Chris Mortenson has done some good research on the topic.
For some perspective. In the 60's the big scare was we would run out of farmland. It was predicted that by 2000 we would have to eat each other to stay alive because there would not be enough farmland to grow the food needed to feed the population.
That was a few Billion people ago. Not only did we figure out how to feed twice the people but we have overabundance of food. There are dozens, if not hundreds of examples of experts predicting "peak [pick your favorite resource].
Why is this? Technology. Human ingenuity. Matter of fact, the last 50 years NONE of the 'end of time' predictions ever materialized. And actually everything has gotten better - except maybe Government! https://cei.org/blog/wrong-again-50-years-of-failed-eco-pocalyptic-predictions/
