Bitcoin's Energy Expenditure

Sam Wouters joins me to discuss Bitcoin mining, what ultimately secures the network, and the misconception about Bitcoin’s energy expenditure. 

Sam Wouters is a research consultant and an international speaker. He is currently working as a Bitcoin research analyst at River Financial. 

// GUEST // 
Twitter: https://twitter.com/SDWouters 
Website: https://samwouters.com/ 
Blog: https://blog.river.com/author/sam/

// SPONSORS // 
In Wolf's Clothing: https://wolfnyc.com/
iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/
Gold Investment Letter: https://www.goldinvestmentletter.com/
CrowdHealth: https://www.joincrowdhealth.com/breedlove
Wasabi Wallet: https://wasabiwallet.io/
Casa (use discount code BREEDLOVE): https://keys.casa/
Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/ 
Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com
Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/

// OUTLINE // 
00:00:00 - Coming up 
00:00:59 - Intro 
00:02:32 - Helping Lightning Startups with In Wolf's Clothing 
00:03:19 - Introducing Sam Wouters 
00:03:54 - Introduction to Bitcoin Mining 
00:05:18 - Bitcoin Miners: Who They Are and What They Do 
00:08:28 - The Bitcoin Mining Lottery System 
00:10:22 - The Misconception about Bitcoin's Energy Expenditure 
00:14:08 - Understanding the Fixed Supply of Bitcoin 
00:15:50 - Proof of Work vs. Proof of Stake 
00:19:11 - Monetization of Energy through Bitcoin Mining 
00:20:40 - The Importance of Bitcoin Mining 
00:24:37 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 
00:25:34 - Maximize Your Profits with Gold Investment Letter 
00:26:30 - Take Control of Your Healthcare with CrowdHealth 
00:27:32 - Energy Expenditure Secures Bitcoin 
00:30:37 - The Rational Answer to the Energy Expenditure Question 
00:33:29 - Energy Consumption is Integral to Civilization 
00:34:57 - The Recent Hike in Bitcoin’s Global Hash Rate 
00:40:41 - Increase in Hash Rate Represents the Resilience of Bitcoin 
00:45:10 - Central Planners are Betting against the Individual's Self-Interest 
00:48:05 - Nation States on Bitcoin Mining 
00:52:03 - Bitcoin Mining Network is Immune to Government Restrictions 
00:53:25 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 
00:54:16 - Hold Bitcoin in the Most Secure Custody Model with Casa 
00:55:05 - What Ultimately Secures the Network 
00:58:20 - The Relation between Security Budget and Bitcoin's Scarcity 
01:00:07 - Where are We with Bitcoin Adoption Globally? 
01:05:49 - The Future of Bitcoin Adoption 
01:08:06 - The Right Approach to Orange-Pilling Someone 
01:11:29 - Pain is the Ultimate Factor 
01:13:24 - Where to find Sam on the Internet

// PODCAST //
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast...
Spotify: https://open.spotify.com/show/25LPvm8...
RSS Feed: https://feeds.simplecast.com/MLdpYXYI

// SUPPORT THIS CHANNEL // 
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove
Dollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2
The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101

// WRITTEN WORK // 
Medium: https://breedlove22.medium.com/ 
Substack: https://breedlove22.substack.com/ 

// SOCIAL // 
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
TikTok: https://www.tiktok.com/@breedlove22
All My Current Work: https://vida.page/breedlove22