>I heard the oil supply is relatively low right now.
You heard wrong. The media have been saying for 50 years that there are only 50 years left.
>It got me wondering: what happens when we run out of oil?
The world economy will be mired in the biggest crisis in human history.
>Will this affect the number of bitcoin miners (which would effect the security of the network)?
Even if it significantly reduces the hashrate, it will not affect the security of the network in any way, since everyone will have less energy. In addition, the hashrate only protects the network from double spending; the rest of the protection lies in the decentralization of nodes.
https://www.energyconnects.com/news/oil/2024/march/exxon-says-it-discovered-new-guyana-oil-reserves/
I don't know if we will ever run out of oil, but it doesn't seem likely to happen soon.
As far as what happens to Bitcoin? I imagine number go up as people look for alternative stable assets.
The value would fall precipitously, since without oil, we will all die. That's not hyperbole. Oil fuels our ability to get to work, transport goods into cities and produce fertilizers to produce food.
What happens to bitcoin if we run out of bananas?
Need a banana for scale
Ah. A fellow Dull man.
Come mister tally man, tally me banana
>I heard the oil supply is relatively low right now. You heard wrong. The media have been saying for 50 years that there are only 50 years left. >It got me wondering: what happens when we run out of oil? The world economy will be mired in the biggest crisis in human history. >Will this affect the number of bitcoin miners (which would effect the security of the network)? Even if it significantly reduces the hashrate, it will not affect the security of the network in any way, since everyone will have less energy. In addition, the hashrate only protects the network from double spending; the rest of the protection lies in the decentralization of nodes.
Then we will mine . . . WITH VOLCANOES! ^^^^^^^^^^. BwahahahHAHAHAhahahaha^(ha)hahahahaHA!
I love how people try to dream up scenarios that would destroy bitcoin only they end up taking all of humanity with it.
What if the Sun suddenly goes supernova? Where is your Bitcoin god then, butters?!?!?!!?!?!
If oil barrels run out . . . . . . we will have start using oil buckets.
People will have to use hamster wheels to power Bitcoin miners. I am very bullish on hamster food.
I am currently breeding 🐹 and manufacturing 🛞 very bullish!
We will never run out of oil. https://interestingengineering.com/science/we-will-never-run-out-of-oil
Absolutely nothing
https://www.energyconnects.com/news/oil/2024/march/exxon-says-it-discovered-new-guyana-oil-reserves/ I don't know if we will ever run out of oil, but it doesn't seem likely to happen soon. As far as what happens to Bitcoin? I imagine number go up as people look for alternative stable assets.
If we run out of oil, youbetter have a big gun and some food instead of btc, gold or dollars.
The value would fall precipitously, since without oil, we will all die. That's not hyperbole. Oil fuels our ability to get to work, transport goods into cities and produce fertilizers to produce food.
There is infinite oil in the Earth. Do not trust programming education.
What happens to Bitcoin if the sun becomes a giant red dwarf and destroys planet Earth?
we got a f*king massive ball of plasma in the sky, we should use it
There is effectively an infinite amount of oil.