Energy Abundance in West Texas
YTD in West Texas, for every 1 hour that settled over $100/MWh, there has been 7 hours that settled below $0/MWh
In other words, a wind generators power would have collected $100+/MWh for 36 hours and had to pay to produce for 246 hours
The Vice Prime Minister of Ukraine asked Elon Musk to get Starlink internet service to Ukraine and Elon responded 10 hours later that it was done.
Just incredible.
Russia leaning in to #bitcoin, while preparing for wartime sanctions.
China banning bitcoin, while pushing their digital yuan.
U.S. giving mixed messages, while dangling an EO and seizing a large BTC stash.
IMF and BIS accelerating CBDC "pilots".
What's context & signal here?
As a major storm hits TX, #bitcoin miners across the state are shutting off to help the grid brace for impact.
Working so far.
#ERCOT says "there's enough power for current demand" at 9,084 MW.
https://t.co/AzwHanjCFy @fgthiel@chadeverett@JasonLes_@lee_bratcher @arvanaghi
Fact check: Bitcoin consumes a small fraction of 1% of global power today compared to the WEF's 2017 statement that it would consume all of it by now.
A lot of these estimates and articles unfortunately come from folks who don't understand how Bitcoin works.
anyway, obviously these rebuttals need more than 1 sentence each, if you look at my body of work on the topic I have covered most of them, see the archive on my website and the bitcoin mining miniseries on @OnTheBrinkCIV
https://t.co/croq0XyBiK
https://t.co/2fstxLTNjc