Harry Sudock on Bitcoin Mining Energy

I just listened to the podcast “The Truth about Bitcoin’s Energy” with Harry Sudock on the “What Bitcoin Did” podcast hosted by Peter McCormack. Sudock is working as a VP of Strategy for the “Griid Infrastructure” mining project. I learned that in the American market power lines don’t extend more than 500 miles. I learnedContinue reading “Harry Sudock on Bitcoin Mining Energy”

EU Climate State Aid Rules Draft

The EU Commission has published a draft of their revision of the State Aid Guidelines for renewable energy. The public has a chance to comment until August 2nd. This is a public comment on this draft. The existing 2014 version of the guidelines helped change the German law on renewable energy from a very successfulContinue reading “EU Climate State Aid Rules Draft”

El Salvador Bitcoin Law Draft

President Nayib Bukele just tweeted the draft Bitcoin Law that will establish the status as legal currency in El Salvador. For further reference, I retyped the English translation text from the pictures in the tweet, adjusting for a minor translation error from the original Spanish version in Article 15. Update: Already approved by the AssemblyContinue reading “El Salvador Bitcoin Law Draft”

Reusable Proof of Work and Renewable Energy

When discussing the energy expenditure of the Bitcoin network one should note that Bitcoin is not only a proof-of-work but a reusable-proof-of-work system. The electricity used for mining new blocks is paid for by issuing new bitcoins and by fees for including transactions. The first part of that reward is for making something that willContinue reading “Reusable Proof of Work and Renewable Energy”

Tesla (Loser) vs Bitcoin (Winner) Race

I don’t own any car, which saves me from the question if I should sell my Tesla for Bitcoin (still possible). But one of the things car owners like is their ability to accelerate fast. That is one thing Tesla cars are good at, reaching 60 mph in just 2.4 seconds, outperforming every supercar availableContinue reading “Tesla (Loser) vs Bitcoin (Winner) Race”

Tesla and Crypto Climate Accord

Tesla just announced that they will stop taking bitcoins for their cars, being concerned about “rapidly rising” fossil fuel use, especially coal. I am not familiar with the research indicating rising coal use for Bitcoin in the last 49 days since Tesla announced they will take bitcoins for their product. Maybe someone can educate me.Continue reading “Tesla and Crypto Climate Accord”

German Public TV about Bitcoin and Climate Change

Germany has a system of television where people are forced to pay for public channels even if they are not watching. All citizens are required to pay a tax for some channels even if they have no interest in anything they produce. The German Federal Constitutional Court sees this tax as constitutional, because they assertContinue reading “German Public TV about Bitcoin and Climate Change”

Bitcoin Energy Use Problem

The Guardian released a short video yesterday where Alex Hern discusses his wrong views about the matter. He notes correctly that the Bitcoin network uses a lot of electricity. He also notes correctly that the percentage of renewable in the mix is large compared to other industries. He then somehow proceeds to tell people theyContinue reading “Bitcoin Energy Use Problem”