Bitcoin Mining 101 with Harry Sudock - WBD400

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 22 September 2021

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Location: New York
Date: Sunday 19th September
Company: Griid Infrastructure
Role: VP of Strategy

Bitcoin mining requires energy expenditure as a fundamental pillar of the proof-of-work consensus mechanism. While bitcoin is considered energy-intensive by some, it is often misreported in the media, overlooking its importance and the positive benefits for humanity of having sound money.

Similarly, while some criticise bitcoin mining as wasteful, there is ignorance regarding how mining companies are improving communities, the efficiency of the energy grid, and even the impact of energy use itself.

So how is bitcoin mining a driving force for beneficial change?

In this interview, I talk to Harry Sudock, Vice President of Strategy at Griid. We discuss how bitcoin mining works, mining as a force for good globally, and demonetising the political class.

Transcript

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0:00.0	What Bitcoin does is it demonetizes the political class and empowers the productive class.
0:08.0	That's what better money does for people, is it takes the people who are just rent seeking in our political structure and says to them
0:15.2	I'm sorry but you don't belong here because you don't produce anything or create any
0:19.7	net economic positive. Hello there from the USA, how are you all doing?
0:24.4	Welcome to episode 400 of the show.
0:27.2	Amazing right.
0:28.2	Every milestone like this really blows me away.
0:31.0	A podcast I started nearly four years ago, which was just for a bit of fun really
0:34.6	is taking me around the world to interview some of the greatest mines in Bitcoin and economics,
0:38.4	even taking me to a president, it's all kind of weird really but amazing and I'm always so
0:44.0	grateful to everyone who's helped out you the listeners the guests and the sponsors
0:47.8	who enable me to do this. So massive thanks to you massive thanks to everyone
0:52.0	very very cool that we've got to 400 episodes. So massive thanks to you, massive thanks to everyone.
0:52.6	Very, very cool that we've got to 400 episodes.
0:55.5	Anyway, welcome to the What Bitcoin did podcast,
0:57.9	which is brought to you by Gemini,
0:59.2	the only place I'm using for buying Bitcoin.
1:01.5	I'm your host, Peter McCormack, and today I've got my buddy Harry Sullick back on the show
1:05.6	we're going to do a Bitcoin Mining 101 but before that I do have a message from my amazing
1:10.6	show sponsors and seeing as we're doing a Bitcoin mining
1:13.2	101 we have to kick off with compass mining and they're not just a sponsor I'm
1:18.0	a customer of theirs I am now mining Bitcoin again and I've been mining now for
	...

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