Quality Of Life Is Defined By Energy Use



Harry Sudock of Griid qualifies Bitcoin as a responsible use of energy and shares his perspective on the benefits of bitcoin mining for rural areas.

Harry Sudock of Griid qualifies Bitcoin as a responsible use of energy and shares his perspective on the benefits of bitcoin mining for rural areas.

Watch This Episode On YouTube

Listen To The Episode:

This week on “Bitcoin Bottom Line,” cohosts Steven McClurg and C.J. Wilson met with Harry Sudock, vice president of strategy and management at GRIID Mining.

This episode was filmed live at the Bitcoin 2022 conference in Miami and the conversation kicked off with a discussion on the friendliness of their fellow conferencegoers. McClurg explained how there is a collective feeling of support between otherwise competitive businesses at the convention. The trio opens a discussion on the bitcoin mining industry.

After touching on the subject of competition in the mining space, Wilson asks, “How do you manage being all over the place?” Sudock explains how local the mining industry is. “There is a local contractor, a local electrician and a local group embedded at that level.” Sudock goes on to describe how working in rural areas is a great way to show that mining companies can help the community grow with large power deals.

McClurg asks,“How can someone mine bitcoin on the side, but still be in play with the big guys? How can you break in and participate in mining?” Sudock responds, “You can buy a rig and put it in your garage. Your margins are not going to be the same as a huge company, but you may be beating the larger companies on the price of exchange for bitcoin.” The trio discusses the perks of mining at home, and Wilson adds on how some cold weather universities should mine bitcoin and add Antminer S19s to heat their pools so students can swim in the winter.

Wilson states that water and power are the two things that define your quality of life. Hearing this, Sudock shares his belief that there is a spectrum. One side of the spectrum consists of the responsible ways to use electricity, such as running an MRI machine, while the other side consists of things that are irresponsible uses of energy, like Christmas lights, etc. He explains that, at the moment, Bitcoin is viewed as an irresponsible use of electricity, when it should be viewed as a responsible use of electricity because of its ability to help grow many rural places economically by providing them with large electricity deals. The trio goes on to discuss how mining is a large revenue stream in Bitcoin, the competition in the mining market and more.

Listen to the full episode!





Source link

Related Posts

ASA Shows Red Card to Arsenal For Misleading Crypto Ads

The UK’s advertising watchdog – the Advertising Standards Authority (ASA) – has banned two advertisements by Premier League football club Arsenal for its crypto-based fan token scheme….

Moroccan Capital Markets Regulator Launches Fintech Portal – Regulation Bitcoin News

The Moroccan Capital Market Authority (AMMC), the capital markets regulatory body in Morocco, announced recently that it has launched a fintech portal on its website. The new…

LFG = Landfill Gas: Bitcoin Mining Can Turn Gas From Garbage Into Money

Bitcoin can help address one of the most important environmental problems facing us today. Bitcoin can help address one of the most important environmental problems facing us…

3 signs Ethereum price is on track toward $2.5K by September

Ethereum’s native asset Ether (ETH) has more than doubled in value since bottoming out at around $885 in June 2022. Now, it eyes a decisive move toward…

Despite Challenges, Nigerian Bitcoin Miners Are Poised To Profit

Nigeria is leading Africa in Bitcoin adoption, and miners there are overcoming regulatory and power grid challenges to find economic freedom. Nigeria is leading Africa in Bitcoin…

Finding The Path To A Parallel Bitcoin Economy

Texas Slim’s Beef Initiative provides a model for bitcoin adoption to connect Bitcoiners with necessary tradesmen in direct, peer-to-peer exchange. Texas Slim’s Beef Initiative provides a model…

Leave a Reply

Your email address will not be published.