This post needs to be taken down. Samupaha identifies a problem that he obviously didn't even grant the worth of typing into google before he spewed it over the internet. "The problem is that there is no way to adjust block reward" ---- UNTRUE. As with all coins they have a halving rate to level out the worth and prevent a run away market cap. So what in the world are you talking about? Heres a link with a countdown until the next split.
http://www.bitcoinblockhalf.com/

    "Maybe price of electricity will go up because there is so much more demand. This will piss off people in poor countries where electricity is cheapest. Maybe there will be lots of more electricity production. This will piss off environmental organizations."

More bs, countries electricity doesn't directly rely on others. Electricity is made in the area of consumption

  "Centralization of mining is also very probable result. Because the need for electricity is growing, mining will be only done near power plants. Then it will be easy target for governments."

Ummmm your missing the whole point of decentralization. It doesnt matter if they are all separate or together energy is energy and will be consumed at a similar rate.

Lastly even your math is bull
"If price of bitcoin goes to $50,000, Bitcoin network will consume 526 TWh per year which is 2.63% of the world's electricity consumption. If it goes only $10,000, it's still more than half percent. That is shitload of energy."

No, the coins power consumption is not directly related to price... second bit coin consumes 2 TWh (https://en.wikipedia.org/wiki/World_energy_consumption) not 526.. which at a current point is 1/78750 of our energy usage. Currently banking which has veriphones and servers and employees and most probably consumes a lot more energy. Where in the world did you get your numbers? Or did you just make them up because they sound good.

More lastly bro look up hash rate. If I put more energy into my rig its not just simply gonna just make more money, itl prob explode.

I dont know how to take you off this page but your post was so ignorant I had to spend my morning telling you off. Please do not post again unless you at least do a google search.