The Best Bitcoin Mining Example for You to Share With Your Friends

the next chapter which you've titled Bitcoin mining and the energy industry um this seems to be like usually kind of a a a good entry point for people that don't understand or appreciate Bitcoin is like if you just talk about the ramifications that it has on the energy sector right um how do you approach this topic with with no coiners yeah so like you said the the Bitcoin Finance savings on orange pill is to me almost totally different than the mining energy grids energy production sort of pill so to speak and again each chapter what's a core conservative value and how can I frame Bitcoin in a way that appeals to that and understands that energy production right conservatives are in favor of of energy production of you know nuclear coal oil and gas like anything we we want to produce as much energy as possible as a human species because energy is life I put a chart in there the human life expectancy and Global energy production they move tit fortat as humans produce more energy we can live longer we can have a higher quality and quantity of life if you imagine a dead body it has no energy right energy is life so point one we want to produce as much energy as possible all right well how can we do that well we have various resources but if you are a power company and and you're an energy supplier you have an issue you have a supply and demand mismatch if you have this facility that can produce x amount of power at maximum capacity a lot of the times you're not producing your at your maximum capacity right and so you're wasting resources you're literally wasting energy and you have this problem where you need to guess what will demand be because I need a facility that's big enough to handle maximum stress on the grid either you know it's mid August right now this is actually one of those times like late summer when it's really hot outside around 5: to 7:00 p.m. everybody comes home from work they're doing laundry they're cooking they're cleaning maybe there's a heat wave they're blasting AC you need enough energy for those moments but for a lot of the year it's you don't have that right and so what's going to fill that Gap right it's Bitcoin miners you need someone to come in and buy all of the excess production at any point in time but also when demand is at its peak during these times of the year or maybe in the winter if there's a blizzard and everybody's blasting their heat they need to be able to step back and stop consuming and not be any negative consequences so other large consumers of Power are hospitals and grocery stores and they don't have that same degree of flexibility in terms of you know turning consumption on and off because I don't think a children's hospitals what you want to turn off they in a blizzard right that's probably something you want to keep powered up and also in terms of geographic flexibility right so you need someone who can consume large quantities of energy and also go to the source right and a lot of energy production doesn't happen in the middle of downtown Manhattan it happens you know couple hundred miles away and the energy is transported in so Bitcoin miners they can go directly to the source and you don't have this Transportation problem so the fact that they can consume large quantities of energy at any time anywhere and also turn off at any time and not really have any negative consequences and they can do so like programmatically because each machine consumes like a fungible amount of energy so you know you can turn ex 10% of your Fleet off in this one pod of your mining operation and know you're giving back x amount of gws or megawatts to the Grid it's perfectly mathematical and it and it fits that supply and demand mismatch that energy producers so desperately need to fill because they don't want to just be producing a bunch of energy that's not getting consuming they're they're wasted money like and wasting energy but they also don't want to underproduce during times when it's most needed and so Bitcoin miners they fill that Gap and an analogy I use in the book to really Hammer this point home is if I ran a a pizza store and you said hey make as many pizzas as you can like ball out like all day long make as much as you can I'll buy everything but when actual real paying customers come in I'm not going to take all the pizza from them and they leave unhappy right I'll step back and let them buy the pizzas but you make as much as you can and I'll buy it all like me as the owner of the pizza restaurant I'm thrilled to hear that like I know I'm not going to just over produce and have a bunch of waste and like I know I actually have a client so this is the service that Bitcoin miners provide energy grids wow excellently said and yeah very underappreciated I don't this just hasn't dawned on people that how significant Bitcoin will be from this sort of load balancing MH energy buyer of both first and last resort depending on the context um it's just very powerful feature for the energy sector right um and there's huge Coalition there between you know sort of conservatives that are pro- energy and Bitcoin miners especially this being an election year I felt like that's that's a match made in heaven and to sort of lock arms politically for Miners and energy producers I think is very necessary yeah well said thanks for watching if you enjoyed this episode click here to find more just like it and here to find our most recent episode also make sure to like this video to help shine light on the corruption of money and be sure to subscribe to this channel to stay connected