Let’s say that at some point in the future, humanity will develop a technology that provide us with free energy. The incentive scheme for miners is that they have to pay for the energy they consume, and obviously they’re all trying to lower that cost. But what happens if energy becomes free?
It’s a theoretical question, I know, but let’s just for the argument sake assume that we can build some sort of power plant that taps into solar energy or something and makes electricity basically free. What happens then?