MartyBent on Nostr: Had an epiphany on the mining stage during my panel with Troy Cross, Guy Swann and ...
Had an epiphany on the mining stage during my panel with Troy Cross, Guy Swann and Blake King that I tried to articulate on the go and want to articulate it here.
It is very ironic that politicians and central bankers refer to bitcoin mining as wasteful.
I understand this irony very deeply because of the work we're doing at Standard Bitcoin. Our strategy is to identify rural towns with falling populations that have excess capacity at substations because a large manufacturing facility left town due to globalization.
At Standard Bitcoin we are taking advantage of the waste produced at substations across Appalachia. There is a lot of waste because the dollar system made it unprofitable to manufacture goods in the US.
Substations were built for heavy industry, heavy industry was eventually disincentivized due to monetary and economic policy, they were priced out and forced to leave or shut down, and substations were left behind producing massive amounts of electricity with declining demand.
Bitcoin mining has produced a profitable way to take care of the waste created by the dollar system and its perverse incentives that have led to a hallowing out of our manufacturing base here in the US. This is a beautiful thing and a saving grace for the Rust Belt.
It is truly ironic that those in government and central banking call bitcoin miners wasteful when we are fixing a waste problem that their policies created.
Our ability to solve this waste problem has very positive effects on the towns we operate in too.
We create jobs while allowing utilities to keep prices lower for residential consumers because we provide them with a significant revenue boost.
We're driving peak efficiency. We don't waste a single watt.
The gaslighting over this topic is pretty insane.
It is very ironic that politicians and central bankers refer to bitcoin mining as wasteful.
I understand this irony very deeply because of the work we're doing at Standard Bitcoin. Our strategy is to identify rural towns with falling populations that have excess capacity at substations because a large manufacturing facility left town due to globalization.
At Standard Bitcoin we are taking advantage of the waste produced at substations across Appalachia. There is a lot of waste because the dollar system made it unprofitable to manufacture goods in the US.
Substations were built for heavy industry, heavy industry was eventually disincentivized due to monetary and economic policy, they were priced out and forced to leave or shut down, and substations were left behind producing massive amounts of electricity with declining demand.
Bitcoin mining has produced a profitable way to take care of the waste created by the dollar system and its perverse incentives that have led to a hallowing out of our manufacturing base here in the US. This is a beautiful thing and a saving grace for the Rust Belt.
It is truly ironic that those in government and central banking call bitcoin miners wasteful when we are fixing a waste problem that their policies created.
Our ability to solve this waste problem has very positive effects on the towns we operate in too.
We create jobs while allowing utilities to keep prices lower for residential consumers because we provide them with a significant revenue boost.
We're driving peak efficiency. We don't waste a single watt.
The gaslighting over this topic is pretty insane.