The Truth About Bitcoin's Energy with Harry Sudock - WBD361

Mr Obnoxious

Peter McCormack

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

4.8 • 2.7K Ratings

🗓️ 16 June 2021

⏱️ 90 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Location: Miami
Date: Monday 7th June
Project: Griid Infrastructure
Role: WP of Strategy

Bitcoin mining has been subjected to a considerable amount of criticism over recent years, but the number of articles disseminating misinformation has exploded over the last few months.

Almost every mainstream media outlet has shared ill-researched hit pieces, and several hugely influential figures, from Elon Musk to Elizabeth Warren, have publicly questioned its energy usage.

While the conversation about Bitcoins energy usage is worthwhile, almost all of the criticisms come from a misunderstanding of Bitcoin and the energy sector. However, the reach of these articles is widespread and potentially damaging.

To address this FUD, I talk to Harry Sudock, the Vice President of Strategy at Griid. We discuss the energy consumption of Bitcoin mining, energy generation & the power grid and the case for renewable energy.

Transcript

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0:00.0	The whole energy argument is it doesn't take into account the physics and the engineering of how the energy is produced
0:08.0	and it doesn't take into account the economic reality that we are always seeking out lower cost power.
0:14.4	Hello there again from El Salvador how are you all doing things are moving pretty
0:19.7	fast here and two days ago I got to meet with the president
0:23.4	President Buekely to discuss Bitcoin and outside of the fact that the whole
0:27.6	experience was entirely surreal I was just super impressed with his
0:31.5	understanding of Bitcoin and his goals for the country.
0:34.2	I'm going to have more on this soon.
0:35.8	Anyway, how are you all doing?
0:37.2	Welcome to the What Bitcoin did podcast, which is brought to you by Gemini, the only place I am using
0:42.2	for buying Bitcoin.
0:43.4	I'm your host Peter McCormack, and today I've got an interview with my good buddy Harry
0:47.2	Suddock to discuss Bitcoin Mining and Energy Fudd.
0:50.7	But before that, I do have a message from my show sponsors, and today we're going to kick off with my newest sponsor, Revolute.
0:57.0	Now, as many of you know, Lloys TSB, my bank of the last 25 years closed down all my accounts recently.
1:03.7	It appears that they do not like Bitcoin.
1:06.2	But Revolute reached out to me,
1:07.9	and it could not have been easier to create an account.
1:10.3	And most importantly, they like Bitcoin,
1:12.1	making it easy for you to transfer to exchanges
1:14.6	and now Revolute are offering $20 or 20 pounds to all new customers that complete
1:20.1	three-car transactions it only takes a few minutes to set up and you can create a card and add it to Apple pay immediately to get the cash in your pocket as soon as possible, but I would recommend you convert that straight to Bitcoin.
	...

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