The Folly of the Mega-Mines | Steve Barbour | Compass Podcast

If you follow the bitcoin mining space you would have routinely seen Riot Blockchain, Marathon Digital, Core Scientific and other other large mining farms market themselves as a gift to the grid in North America. But building such large facilities is not without it’s downsides. In this episode we talk with Steve Barbour from Upstream Data about censorship risks, geolocation for unreliable electricity loads, transmission loss and more. Steve: https://twitter.com/SGBarbour https://bullishthoughts.substack.com/p/the-elephants-in-the-grid Will Foxley: https://twitter.com/wsfoxley 🎥 TIMESTAMPS: Begin 00:00 Intro 00:29 Why mega-mines might be a folly 01:20 Logistics of decentralized hashrate 12:52 Utility companies 15:11 Unreliable power generation 17:52 Does a BTC standard fix this? 26:15 Regulation 32:01 Should we change Bitcoin?  43:24 Volunteering censorship  48:15 MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Anchor https://bit.ly/3rmb7UF RSS https://bit.ly/3chpULV LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. ✍️ Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Happy hashing! 🤝 #Bitcoin #BitcoinMining Learn more about your ad choices. Visit megaphone.fm/adchoices