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RE: Former Norwegian Secretary of State turns Bitcoin Entrepreneur

in LeoFinance8 months ago

If anyone wants to know more about how business like that works, Bitcoin Rapid Fire podcast had a great episode about that (with Greg Foss, 23 Feb episode, convo about https://www.validuspower.com/ starts at about 1 hour 10 min mark).
It is really amazing how they can build mobile power generating stations (powered with flare gas). They use get engines for that. They can switch from BTC mining to an external need in a minute (like Texas situation this year) and provide power.
Solutions like that provide stability for the grid.

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Thanks for the recommendation! I will give it a listen later today :).

I'm sure there are concentrated pockets of waste all over the place that can be used by remote value-generating, but power-consuming, equipment. In the old days when these plants were first built, people likely imagined that power-generating resources had to be transported in order to be sold. But Bitcoin mining equipment can work from anywhere that has energy and a sufficient connection. Changes a lot.

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They are mining BTC basically in the oil fields :) using Starlink for connection. First part of the podcast is even better. Greg Foss is a legit dude and had great points about credit default swaps and how you can actually use them to calculate BTC's fair price as insurance against fiat currencies default (p.s. atm of recording that pod BTC's fair price was >100k)