Fzb 𝕊

Legal Advisor in business law & crypto advocate

[Fzb 𝕊 @DaveFzb]

@benjamincowen Now damp it

[Fzb 𝕊 @DaveFzb]

@jimmysong Not a threat to BTC itself, but I'm afraid what will happen if regimes like China and Russia adopts BTC faster than the western world. Without the upper hand economically, how can the western world preserve peace and freedom?

[Fzb 𝕊 @DaveFzb]

@TheDrago663 @adam3us @bitcoinarchive @SaniExp Was thinking the same. ETH was finally JUST breaking out.

[Fzb 𝕊 @DaveFzb]

@investanswers Nothing interesting happening with ETH? 🤔

[Fzb 𝕊 @DaveFzb]

@investanswers @clearthinktoday Don't be confused. If you like money you buy the hated rally. You are starting to get in late on the trade.

[Daniel Batten @DSBatten]

Would large scale Bitcoin mining deployment have prevented the power outages in Spain/Portugal?

Short answer: "Yes"

Before the outage hit, Spain was running its grid with very little of what's called "dispatchable spinning generation" (also known as inertia).

The image below is a snapshot from 12.30pm local time, 5 minutes before the outage occurred.

"Dispatchable spinning generation" means power plants, like gas or nuclear, that can quickly adjust their output to keep the grid stable. The name "spinning" refers to the turbines that traditional generation plants such as coal, gas, nuclear that use spinning turbines help with this.

Traditional plants provide this with their spinning turbines, but renewables don't, making the grid more fragile if you don't have a way to very rapidly load-balance in the case of an outage.

This likely contributed to the outage that hit Spain, Portugal, and parts of France, as the grid couldn't handle sudden disruptions well.

We don't need to speculate what would have happened had they had wide-scale Bitcoin mining operations: Texas provides a blueprint of what would have happened: Bitcoin minings would have been instantly notified of the major outage, and within under a second would have adjusted their demand, stablizing the frequency of the grid by preventing a major demand-supply imbalance.

Texas for context has the highest solar&wind penetration of any grid in US. On one recent day power from solar and wind was 76% of total Texas grid demand (https://t.co/nIiqsFWALG), but Texas' (ERCOT) grid also has 3 GW of controllable load in the form of Bitcoin mining that it uses heavily in the case of outages or sudden unanticipated peak demand.

What happened in Spain and Portugal is not an inherent risk of renewables, its what happens when the renewable energy transition is done in a partial way, without due considerable to load balancing.

Batteries are part of the solution too. Bitcoin mining and Batteries have different unique advantages. Bitcoin mining has the advantage of being modular, and low cost to deploy. Bitcoin mining also keeps the cost of power low for retail users by reducing the expensive curtailment fees that grid operators would otherwise have had to pay solar and wind operators.

We have the solutions right under our noses, let's start using them.

[Fzb 𝕊 @DaveFzb]

@saylor Let's get this to 100k likes 🚀

[Michael Saylor @saylor]

There is going to be a 100K Party. 🚀
https://t.co/Vo52KQZRe5

[Kris @kris]

When Bitcoin hits $100,000 I will give 1 BTC to one person who follows me.

The rules are simple:
- like this tweet, follow me and RT
- comment “100k incoming”

Let’s go! $BTC #bitcoin

[Fzb 𝕊 @DaveFzb]

@kris @cryptocom 100k incoming

[Fzb 𝕊 @DaveFzb]

@investanswers It was a very risky move at the time though. Could easily have gone wrong.

[Fzb 𝕊 @DaveFzb]

@hodlinglove @dylanleclair @metaplanet @metaplnet_jp Where did you buy?:)

[Fzb 𝕊 @DaveFzb]

@Bitcoinschurch @dylanleclair @metaplanet Where can you buy it?

[Preston Pysh @PrestonPysh]

If you're just starting out and don't understand #Bitcoin.

This movie is intellectually dense and probably the best starting point.

I can't recommend it enough.
https://t.co/abitrcaLDq

[Michael Saylor @saylor]

Laser Eyes until #Bitcoin Arrives

[Fzb 𝕊 @DaveFzb]

@luke_broyles Nobody is too late for bitcoin. For massive wealth appreciation yes, but not for the actual use case. We need slow adoption. Few understand.

[CZ 🔶 BNB @cz_binance]

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.

Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has.

I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today.

Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth.

Prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore.

With Richard and the entire team, I’m confident that the best days for @Binance and the crypto industry lay ahead.

As a shareholder and former CEO with historical knowledge of our company, I will remain available to the team to consult as needed, consistent with the framework set out in our U.S. agency resolutions.

What’s next for me?

I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years.

After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi.

I can’t see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur. Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, I can at least tell them what not to do.

On that note, I am proud to point out that in our resolutions with the U.S. agencies they:

- do not allege that Binance misappropriated any user funds, and
- do not allege that Binance engaged in any market manipulation.

Funds are SAFU!

With that, I look forward to seeing the new leadership take the reins. Please join me in congratulating Richard on his well-deserved promotion.

Onwards!

CZ

[Michael Saylor @saylor]

A new bull is coming to Wall Street. #Bitcoin

[Fzb 𝕊 @DaveFzb]

@Justin_Bons If BTC fails, you loose the element of trust. If the most secure cryptocurrency fails, why would you ever trust in any other cryptocurrency? Trust is a corner stone. BTC is a must for cryptocurrency to thrive. Your tweets are tiresome.

[Fzb 𝕊 @DaveFzb]

@benjamincowen @greeny_eth Remember to use the term "BTC is collapsing" when we have alt season 😉