@dsbatten
I like turning waste into power. Landfill gas. Eroding currencies. The human potential.
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Recent Notes
Of the peer reviewed papers on Bitcoin, >90% of them are on Bitcoin and energy
Of Cambridge's report on Bitcoin, >75% of the report is on Bitcoin mining
Of countries forming National Bitcoin Reserv...
In hindsight, it should have been obvious to me. The first talk I ever gave at a Bitcoin conference was about Bitcoin-and-energy. 2/3 of the audience who'd been listening to the previous speakers left before I said a word. But outside the Bitcoin conference, the video of that talk was watched by more than double the number of people as the next highest talk. Both the Bitcoiners (literally) leaving the room, and those outside Bitcoin leaning in were nothing to do with me, and everything to do with how important each community felf the content was, relative to the Bitcoin-and-money discussion.
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Of the peer reviewed papers on Bitcoin, >90% of them are on Bitcoin and energy
Of Cambridge's report on Bitcoin, >75% of the report is on Bitcoin mining
Of countries forming National Bitcoin Reserves through vehicles other than confiscation > 90% have done so using Bitcoin mining (only El Salvador purchased Bitcoin)
Of people routinely talking to political leaders about Bitcoin (including Prince Filip, Adam Back, myself) almost all of the leaders want to talk about Bitcoin and energy (versus a much more muted response to "Bitcoin and money")
Bitcoin is a fire waiting to burn. The Bitcoin-as-money conversation is the big log in the fire. It's the ultimate place we want to end up. But it's not the starting point. We've been trying to start a fire by holding a match to a big log.
Bitcoin mining is the kindling, it's the fire starter, because it solves so many energy problems that people have, and political leaders are struggling to find solutions to, right now!
Once Bitcoin mining creates acceptance of Bitcoin, from there it will be so much easier for the big log of Bitcoin-as-money to catch alight.
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Reflections post BTCHEL conference.
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The one misleading narrative about Bitcoin that has been killed completely in mainstream media:
the "Bitcoin is bad for the environment/uses too much energy"
Because of this, its no longer a reputational risk for people to talk about Bitcoin mining solves energy problems.
As a result, Since 2024, a group of Bitcoin mining advocates is now making good strides forward across the world in talk with energy companies and governments about getting Bitcoin mining helping solve major and concurrent problems around their ailing grids, behind-schedule NZE targets, and near-EOL renewable and battery subsidy programs.
the "Bitcoin is bad for the environment/uses too much energy"
Because of this, its no longer a reputational risk for people to talk about Bitcoin mining solves energy problems.
As a result, Since 2024, a group of Bitcoin mining advocates is now making good strides forward across the world in talk with energy companies and governments about getting Bitcoin mining helping solve major and concurrent problems around their ailing grids, behind-schedule NZE targets, and near-EOL renewable and battery subsidy programs.
Demand response is only one side of flexibility. Grids are also willing to pay Bitcoin mining companies to absorb excess load. Sweden is already paying for this for example. They used 14 MW of Bitcoin mining from Flexionics, and used the service 11,245 times last year, some for DR, mostly to absorb excess wind capacity.
If you want to speed up bitcoin adoption, that means help bitcoin acceptance. If you want to help bitcoin acceptance, talk about how bitcoin solves a problem the person you are talking about has.
For store owners - that’s “how do I increase foot traffic and reduce card fees”
For anyone in govt, it’s often “how do I keep my grid stable and increase energy security?”
For an environmentalist it’s often “how do we phase out peaker plants and gas flaring while accelerating the green energy transition”
For policymakers and regulators it’s often “how do we adopt transactions in a way that’s much harder to use than traditional currency?”
For store owners - that’s “how do I increase foot traffic and reduce card fees”
For anyone in govt, it’s often “how do I keep my grid stable and increase energy security?”
For an environmentalist it’s often “how do we phase out peaker plants and gas flaring while accelerating the green energy transition”
For policymakers and regulators it’s often “how do we adopt transactions in a way that’s much harder to use than traditional currency?”
"Bitcoin (mining) as an energy solution" is the Trojan horse for Bitcoin as a monetary solution
Of all the govt ministers I've met with, none of them wanted to talk about bitcoin as a monetary asset. All of them wanted to find out more about how bitcoin supports their energy and environmental goals.
This corresponds with the experiences of other people I've cross-referenced with who are meeting with senior members of Government, including Prince Filip, who recently said that the Bitcoin&energy conversation is the one they are most interested in having.
This corresponds with the experiences of other people I've cross-referenced with who are meeting with senior members of Government, including Prince Filip, who recently said that the Bitcoin&energy conversation is the one they are most interested in having.
I've recently met with 3 Government Ministers to talk about how with bitcoin mining, you don't need gas peaker plants to accompany new AI load, and how you can also reduce methane emissions.
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AI doesn't threaten net zero emission targets.
But AI without Bitcoin mining does.
But AI without Bitcoin mining does.
I am convinced that once Bitcoin mining is accepted as a necessary grid stabilizing and renewable expansion technology, the world will be able to finally accept Bitcoin as an important and impactful technology, and adoption will increase significantly.
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