⚡️One of the chief theories behind Spain's power blackout this week is that the Iberian grid had an "inertia" problem.
So... what on earth is inertia and why does it matter??
If only someone had written a long thread about this a while back...
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Once again, @DecentraSuze pulls together all the common threads connecting the UK's faltering attempts to understand and attract a new industry.
At just the time when we need growth more than ever, the policies of the Government and @TheFCA are driving it away.
A rare, well-researched positive article on Bitcoin by the BBC and it’s a good one.
It covers:
- Real-world impact in rural Africa
- Wasted renewable energy put to use
- Economic boost via electricity access
- Profitable and sustainable model by @GridlessCompute
- Ambitious plans to expand clean energy powered by Bitcoin
More of this, please @BBC.
Great article @JoeTidy!
We need to stop talking to kids about jobs and careers and start telling them how the world for them will work.
Adulting is no longer about a period of learning, a period of working then a period of being retired.
They’re heading into a high velocity economy where success looks like:
- notice a problem
- research it
- assemble a team
- solve the problem
- scale the solution
- make enough money to move to the next problem or to be economically free
The tools of the trade are
- a personal brand
- a network
- confidence leveraging technology
- fund raising
- aligning teams
- scaling
- commercialising
This cycle will not be like a “good job” from pre-2000s. This will be like playing Tetris with people, ideas, money and tech.
Any kids who are prepared for this type of work will be supremely successful and fulfilled in the coming decades.
One problem with growth is that you have to try new things, and new things have unpredictable results. A neurotic dependence on forecasts is a symptom of safety-ism and control freakery. The OBR's existence is the most overt example, but it's endemic. The mindset needs to change.
The UK needs to wake up, and politicians on both sides of the aisle - whether former City Ministers like @griffitha or the incumbent @TulipSiddiq - need to focus on what is happening globally in the Bitcoin sphere, or the UK will lose this race.
It's 2025, and mainstream media has greeted the new year by admitting that Bitcoin mining can
* ease geopolitical tensions
* stabilize grids
* reduce electricity prices
* monetize wasted renewable energy
https://t.co/nRy9emjVFI
MARA's announcement they recycling heat from Bitcoin mining rigs to heat the homes of almost 80,000 residents (1.4% of Finland's population) is the largest application yet for heat recycling. Here's why it's significant.
Finland's grid is mostly clean energy, however 25% of home heating is still fossil fuel-based.
By running mining rigs on clean energy, and recycling the heat they produce for home heating, Bitcoin mining, if scaled up could obviate the need for fossil fuel based heating in homes across Finland
Bitcoin has already been shown to have a decarbonizing impact on the world in peer reviewed research by
1. mitigating methane (Rudd et al, 2024),
2. replacing the need for gas peaker plants (Bruno et al, 2023),
3. allowing grids to be build with higher amounts of renewable energy (Rhodes et al) and
4. accelerating the green energy transition (Lal et al, 2023)
5. accelerating renewable energy based microgrids development (Moghimi et al, 2024)
The heat recycling efforts @MARAHoldings is now pursuing at scale provides a 6th way that Bitcoin is an environmental force for good.
Been waiting 2 years for this data:
Peer reviewed evidence that when a solar farm uses Bitcoin mining, they achieve ROI more than twice as fast.
ie: Failure to use Bitcoin mining has slowed the renewable transition
source: https://t.co/RGsIe6z75Z
Details in linked tweet
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More over how those data centres operate efficiently & how they integrate into grid balancing, renewable build out, heating for districts/services & curtailing methane is 'critical'!
#Bitcoin mining showing the way advanced societies proceed https://t.co/4THfgD4ynC
It's encouraging to see @UKLabour being urged to look at methane mitigation - but the Bitcoin mining industry must form a part of the solution. Miners are location agnostic, and are economically incentivised to use methane before it reaches the atmosphere.
@Ed_Miliband and @StarkClimate - reach out to @bitcoinpolicyuk for briefings on how the industry is already mitigating methane emissions from landfill, farming and the oil industry. Some details in the thread below (including a piece from the @wef , who are not normally well informed about the Bitcoin industry!)
We know that @rachelreevesMP and @Keir_Starmer have a serious problem on their hands. A £22 billion black hole in the public finances, we’re told. Tax hikes and cuts to public services are both likely.
But they also have 61,000 Bitcoin.
A thought experiment - hole filling in three easy steps:
1. Make Bitcoin legal tender and announce that it will form part of the national balance sheet.
2. Eliminate CGT and corporation tax on Bitcoin used for payments in the UK, demonstrating far more clearly than the previous government that they're serious about attracting this new market and its participants.
3. Roll out the red carpet for Bitcoin businesses, from financial services in the City to miners integrating into the National Grid or engineering firms heating homes using mining to offset costs, precipitating huge growth in the industry (unconnected to the price of Bitcoin, but from which they will also benefit).
The price of Bitcoin at the time of writing is c.£45,000, making the government’s stack worth just shy of three billion pounds.
If a G7 country like the UK for one moment demonstrated that it regarded Bitcoin as a serious proposition, the market price would likely skyrocket, and eventually stabilise, as a digital equivalent of gold - quite apart from its paytech capabilities.
If Bitcoin were to equal the market cap of gold, each Bitcoin would be worth roughly £410,000.
Making the UK’s stack worth twenty-five billion pounds. A shade over the missing twenty-two billion.
What they do with it then is up to them - spend, save, sell, issue a Bitcoin-backed bond?
@RachelReevesMP claims that they are "taking the tough decisions now to fix the foundations of our economy".
I highly doubt that @UKLabour will pay much heed to Bitcoin in the near future. But deciding how to deploy a newly-available £25 billion doesn't sound like a tough decision to me.
We welcome @UKLabour’s National Wealth Fund plans. Our new paper recommends using bitcoin mining to support and monetise sustainable grids.
Special thanks to Nick Bowick and others for their contributions. Download link below.
https://t.co/oxdvAjazkv
How to create a Bitcoin Structured SPV in the UK & optimize for tax efficiency. Let’s dive in! 💡🚀 #Bitcoin #SPV #TaxEfficiency
With the potential #Labour government and rumours of CGT rises Special Purpose Vehicle investment companies may rise
Firstly, it is important to discuss your situation with a #Bitcoin savvy accountant to get tailored guidance on if this is best for you (message me if you want the best 😉)
IF Labour changes CGT it is likely to kick in from 25/26 tax year at the earliest (I do not know this but logistically makes sense)
First, let's clarify what an SPV is. A Special Purpose Vehicle (SPV) company created to isolate financial risk (Limited Liability). It can hold assets, including Bitcoin. 📈🔒 #Finance
Step 1: Form your SPV.
Register a private limited company in the UK through Companies House.
Choose a unique company name and ensure all required documents are in order. 📝🏢
Step 2: Capitalize your SPV.
Fund the SPV by transferring Bitcoin or fiat currency.
Step 3: Open a bank account.
Choose a bank that supports cryptocurrency businesses. (Hard I know), I would not mention #Bitcoin when applying, use generic terms (Investment company)
Ensure the bank account can handle both fiat and crypto transactions. 🏦🔗 #Banking
For example - Revolut seem one of the few
Step 4: Acquire and manage Bitcoin.
Purchase Bitcoin through reputable exchanges.
Store Bitcoin securely using hardware wallets or institutional custody solutions. 🔐💳 #BitcoinStorage
Step 5: Implement tax-efficient strategies.
Consider personal circumstances, investment and exit strategies
📉💷 #TaxEfficiency
Step 6: Maintain proper records.
Keep detailed records of all transactions, valuations, and relevant documents.
Use accounting software or hire me or someone like me to manage books and stay compliant. 📚💻 #Accounting
Step 7: Plan for exit strategies.
Define clear exit strategies
Consider the tax implications of each exit strategy to optimize returns. 🚪🚀 #ExitStrategy
Bonus Tip: Stay updated with regulations.
The regulatory landscape for crypto is evolving. Stay informed about changes in UK laws and guidelines.
⚖️🔍 #Regulation
In summary, setting up a Bitcoin SPV in the UK involves forming a company, capitalizing it, managing assets securely, and optimizing for tax efficiency. Proper planning and compliance are key! 🌟🇬🇧 #CryptoBusiness
Feel free to reach out if you have more questions or need further details! 📬 #CryptoCommunity #Fintech