Bitcoin Mining In The 22nd Century


This article originally appeared in Bitcoin Magazine’s “Moon Issue.” To get a copy, visit our store.

BLOCK HEIGHT: 4,830,001

(c. Year 2100 in old terminology)

Greetings from the deep future! It is block height 4,830,001, and we have just had an interplanetary 23rd halving party. It is the year 2100, or as we now know it, the year 91 AB (After Bitcoin). Luckily for all of you, time travel has been discovered, and I can share the good news with all of you! The first half of the 21st century was beset by financial crises, war, poverty, inequality, environmental destruction and a COVID-19 pandemic, which caused international rolling lockdowns for over a decade, until the collapse of the global fiat economy necessitated a move away from “lockdownism,” profligate spending and inflation, and a return to monetary and economic, and hence, environmental, sustainability. To start, I’ll give you a decade-by-decade look at how we arrived at our halving party.

While the world’s major economies were busy destroying themselves in the 2020s, smart money started migrating to Bitcoin, which created tremendous opportunities for Bitcoin miners, leading to more miners entering the market, increasing competition, and importantly, dramatically increasing innovation. By the end of 2029, every semi-industrial Bitcoin miner in the world was using low-energy cooling technologies, with just one 40-foot container full of immersed and overclocked mining rigs able to provide 5 megawatts (roughly one-third of an exahash) of portable, profit-generating electrical load, anywhere on the planet. By the end of the 2030s, all of the world’s flared gas was piped into Bitcoin containers, and customers were found for all of the world’s curtailed energy. Inflation was going at around 20% a year since the time you’re reading this, so the $5.65 Big Mac you ate in 2021 would set you back about $300 in 2039. Luckily for you, bitcoin was worth $5,000,000, and fiat death was only about a decade away at this point. Unfortunately for billions of people on Earth, however, wage inflation was only 2%, and many hundreds of millions of people died due to famine and scarcityinduced conflict and social collapse in impoverished locations waiting for the fiat system to collapse under its own weight in 2050. Anyone who saved some sats during the 2020s and 2030s were themselves saved when economic judgment day arrived.

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