The Economics of Bitcoin Mining

This chapter explores the challenges of Bitcoin mining by comparing it to gold mining and discusses the impact of energy costs on mining profitability. It also examines the potential of decentralized energy production and skepticism surrounding altcoins, highlighting how underutilized energy resources could shape the future of Bitcoin mining.

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On today's show, we talk to leading Bitcoin expert, Dr. Saifedean Ammous about how Bitcoin works and what problems it attempts to solve. Dr. Ammous is the author of the Bitcoin Standard.

IN THIS EPISODE YOU’LL LEARN:

Why a higher demand for Bitcoin indirectly makes the currency more secure and in turn a better store of wealth
Why the adoption of a deflationary currency like Bitcoin will encourage people to think long term and invest more
Why the clearance mechanisms of central banks will ensure the fiat currency system’s survival
Why profitable bitcoin mining in the future won’t be using fossil fuels
Why Altcoins can’t compete with Bitcoin regardless of any current or future technical properties

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