10 Things You Need To Know About Bitcoin #8: Bitcoin & Energy | 026

Dan and Trent do a judo move on this tired narrative. Episode #8: Bitcoin and EnergyIn person!Major issue for Bitcoin: the criticism it uses too much energy.  One of the very first things people hear about BitcoinBitcoin is the honey badger: it gives no fucksWe are going to flip this narrative on its head.  Topsy Turvey.  Bitcoin uses a lot of energy and that is a very good thing for the world.Energy usage directly related to human flourishing and always hasWhy does Bitcoin use a lot of energy?  Proof of workYou cannot get something from nothingBitcoin is antidote to Fiat systemProof of work imposes an unforgeable costliness on the production of Bitcoin.  You cannot fake it.Why is this a good thing?Bitcoin incentives energy production, in particular renewablesRenewable energy is intermittent, Bitcoin is the best buyer the renewable industry has ever seenBitcoin mining is location-agnostic, it seeks out cheap and excess energy globallyRemoving methane from atmosphere (which is 80 times worse than CO2)Song of day: Beginning To See The Light by The Velvet Underground