TD₿: Bitcoin is a Pioneer Species by Brandon Quittem
TL;DR Bitcoin miners have the ability to form a symbiosis with untapped energy sources and help local communities become more prosperous in the process.
Hey Bitcoiners,
This morning I read a wonderful thread that covered how some Bitcoiners in Guatemala are helping clean up the environment using Bitcoin mining.
It explains how there is an ongoing effort there from Bitcoin miners to help clean up a local lake by using cooking oil to mine bitcoin that would otherwise be wasted and find its way into a polluted lake.
Bitcoin Lake states how there had been efforts to clean up the lake in the past that cost hundreds of millions of dollars in government subsidies, but they all failed.
Bitcoin mining offers a novel approach and has special properties that can make it work. First off, Bitcoin miners represent a permissionless free market energy subsidy. They are driven by profits and free market incentives. This is much more sustainable than government subsidies that often lead to ineffective outcomes and a misallocation of resources, just like the hundreds of millions of dollars that failed to clean up this lake in Guatemala.
Secondly, Bitcoin miners have the unique ability to travel to the energy source, or “colocate”, and monetize excess energy that would have otherwise gone to waste, such as the cooking oil mentioned above. Bitcoin miners will “eat” any energy resource available to them in any environment. They are the “dung beetle of the energy industry.” This makes them much more flexible and useful as a solution, one that organizations like Bitcoin Lake are now beginning to utilize in the wild.
Bitcoin Lake’s Managing Director Patrick Melder was quoted as saying, “All community leaders and the citizens of the lake are concerned about the environment, but there are limited tools and resources to tackle the problem. So our goal is to create a ‘sliding scale’ use of wasted/stranded energy to mine bitcoin and in the process clean the lake and create wealth in the communities.”
This is a perfect real-world example of how Bitcoin miners can be brought in and make stranded, wasted energy resources productive while at the same time helping the environment and communities around it flourish.
I highly recommend reading this excellent article by Brandon Quittem that explains how Bitcoin miners are a pioneer species. (01/05/2022)
This story from Guatemala highlights how Bitcoin miners can act as a pioneer species. Miners have the ability to form a symbiosis with untapped energy sources such as wasted cooking oil that would eventually end up polluting the environment otherwise.
Ultimately, Bitcoin mining can help remove pollution and help the local communities become more prosperous in the process.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“The fact that you can take energy of any sort, anywhere and profit from it through Bitcoin mining will accelerate energy innovation from the bottom-up. In the long-run, Bitcoin helps the environment.” - Jarod Bona, Attorney and Bitcoiner
Job of the Day
Do you want to join the Swan team!? Swan Studios, a division of Swan Bitcoin, is looking for a Nashville-based Junior Producer with experience in producing, publishing, and promoting podcasts and videos for use on major podcasting platforms as well as YouTube. This role is focused on organizational/administrative work for the What is Money Show, a prominent Bitcoin podcast hosted by Robert Breedlove.
Not your particular skillset? Check out all the Bitcoin jobs at bitcoinerjobs.com.
Featured Event
Saturday — come to USC: Zumberge Hall of Science from 3:00-5:00 pm for a Bitcoin Socratic Seminar and enjoy a technical discussion around Bitcoin with pizza and drinks.
They will also be having the pleasure of hosting Nik Bhatia, author of Layered Money and founder of the Bitcoin Layer. He’ll be presenting on the topic of “Bitcoin as a global macro asset” and will also be doing a book signing.
Not in town for this? Check out all the Bitcoin events at bitcoinerevents.com.
Meme of the Day
