Read_513 - Noahbjectivity on Bitcoin Mining [Nic Carter]

April 06, 2021 01:22:26
Read_513 - Noahbjectivity on Bitcoin Mining [Nic Carter]
Bitcoin Audible
Read_513 - Noahbjectivity on Bitcoin Mining [Nic Carter]

Apr 06 2021 | 01:22:26

/

Hosted By

Guy Swann

Show Notes

"...And we’re just considering two sources of nonrival energy: clean energy curtailment in China, and vented/flared gas in the U.S. There are many other sources of stranded and nonrival energy sources globally. Suffice to say, there’s enough nonrival energy out there to run Bitcoin many times over. It’s just a matter of deploying hashrate in the right locations, which miners are doing — aggressively." - Nic Carter

We have another great piece on the energy debate around Bitcoin, this time responding to a Bloomberg article by Noah Smith, but this time with a little twist. It's not so much about the environmental problem, but the economics and problems of the energy cost of the system, its explosive rise during bull markets, and how this threatens alternative uses, increases costs, and takes precious resources away from chip foundries producing much needed smartphones and computer processors. Is there anything to this criticism? Nic Carter responds in today's article:

Noahbjectivity on Bitcoin Mining:
https://medium.com/@nic__carter/noahbjectivity-on-bitcoin-mining-2052226310cb

The first article in question - "Bitcoin Miners are on a Path to Self-destruction":
https://www.bloomberg.com/opinion/articles/2021-03-24/bitcoin-miners-are-on-a-path-to-self-destruction

And Noah's rebuttal discussed in the Guy's Take:
https://noahpinion.substack.com/p/bitcoin-mining-and-resource-use

Don't forget our glorious sponsors:
The SO much better than your stupid 401K plan - Swan Bitcoin (swanbitcoin.com/guy)
& the "Love your keys like family," secure, open source hardware wallet - BitBox02 (guyswann.com/bitbox)

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

February 23, 2024 01:42:14
Episode Cover

Chat_093 - P2P Payments for the World with Roy Sheinfeld

"I'm super confident that lightning is not just the present but also the future of lightning. It is the interoperability layer between all things...

Listen

Episode

April 22, 2021 00:56:00
Episode Cover

Read_519 - The Key to an Abundant, Clean Energy Future [Square & ARKinvest]

"Bitcoin miners are unique energy buyers in that they offer highly flexible and easily interruptible load, provide payout in a globally liquid cryptocurrency, and...

Listen

Episode

September 18, 2019 01:06:59
Episode Cover

CryptoQuikRead_295 - A New Form of Life - Money, Bitcoin & Time [Part 5 - Robert Breedlove]

Concluding the “Bitcoin” section of Money, Bitcoin & Time. So many fascinating aspects of Bitcoin covered by author Robert Breedlove in this section including:...

Listen