BREAKDOWN: Why Bitcoin Mining Might Be the New Business Model for US Power Plants
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 5 March 2020
⏱️ 16 minutes
🧾️ Download transcript
Summary
It was another good day for global crypto, as South Korea votes to formally integrate the industry into the existing financial system, opening the market to new players and potentially improving services for crypto companies.
In New York state, meanwhile, a recently renovated power plant is taking advantage of low cost energy with 7000 bitcoin miners. This is part of a larger trend of US-based mining in 2020.
In a very different part of the industry, a new partnership between ConsenSys, EY and Microsoft suggests the intranet era of enterprise blockchain might be coming to a close.
Finally, the new governor of the Bank of England says be prepared to lose money if you buy bitcoin.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 0:14.0 | The Breakdown is distributed by CoinDesk. |
| 0:20.0 | Welcome back to the breakdown. |
| 0:22.5 | It is Thursday, March 5th, and today we are going to be talking about South Korea. |
| 0:28.3 | Yesterday, it was news from India that a ban had been overturned. |
| 0:31.5 | Today, it is news out of South Korea that crypto will be fully integrated into the financial |
| 0:36.0 | system, so we'll look at that. |
| 0:37.7 | Second, we're going to look at a new partnership in the Ethereum world that signifies |
| 0:42.3 | some interesting shifts from maybe an era of private enterprise blockchains to a more |
| 0:48.1 | interconnected public era, even in the context of the enterprise. |
| 0:52.3 | Third and finally, we're going to look at a new mining project out of, of all places, |
| 0:58.0 | New York State, and see what it means in terms of a larger trend of US-based mining. |
| 1:04.0 | As a new thing, if you want to discuss this topic, you can actually join me in our new |
| 1:10.0 | Breakers Discord. So, Breakers is a experimental discord. I'm |
| 1:13.7 | going to be running it for at least two weeks to see if people actually want a different type of |
| 1:18.6 | conversation experience, not just around the breakdown, although I will talk about what goes into |
| 1:23.6 | the episodes and what I thought about them in more detail there, but also just about the |
| 1:27.9 | crypto industry at large. So you can hit me up at NLW on Twitter for an invite to that. |
| 1:33.3 | And before I dive into the exciting topic of South Korea, I want to kick off with one small bit |
| 1:37.9 | of news out of the UK. One of the few bright spots among central bankers for the past few years has been Mark Carney, |
| 1:46.9 | who was governor of the Bank of England. He wasn't necessarily a wave the flag around champion |
| 1:52.8 | bull for Bitcoin or anything like that, but he was much more engaged with this space than the |
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