2min chapter

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#1140 Gideon Powell On Bitcoin Mining, The Oil Industry, & Criminal Justice Reform

The Pomp Podcast

CHAPTER

Bitcoin Mining on the Grid

I think an example is, well, the oil and gas business. Why did the American shale revolution happen in America? And it's because there was- Russia doesn't have bottom-up solutions. Saudi Arabia has better rocks. California has some of the best. I think that Los Angeles basin has the highest oil per square sedimentary for the world. West Texas doesn't have the best rocks. It's what do they have? They have a culture that equips bottom-they have property rights, which gives a line of sight to change. You know, same thing like we have federal draconian drug laws. Get rid of them. Let the states set that- what that should be.

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