The earlier conversation trying to understand where the 'excess' goes was frustrating. It's not 'excess.' There is capacity and there is usage. Let's say for example the power station has the capacity to produce 1000 megawatts. If only 500 megawatts are consumed, 500 megawatts aren't just simply lost into thin air. They just simply aren't used, so it's a loss of potential energy usage, which in power company terms is a loss in potential revenue.
Think of electrical generators or power stations like pumps, they have to keep the system pressurised in order for the electricity to flow. When you turn on things you make a path for the pressure flow through and it relieves the pressure. They always have to keep the pressure above 110/240v or things won't have enough flow (current/amps) but with people turning things on and off all the time there is always a balancing act between how much pressure you're putting into the system and how fast its being relieved. If there is too much pressure they have systems that waste the excess into heat that's the losses, if there is not enough pressure they have to run the generators/pumps harder. Batteries are like balloons that you can pump up to store the pressure and release it at a later date.
just googled the stats and it looks like BTC's current energy usage is on a par with what Google used in 2018, and lower than 2019. I thought maybe it would be more, but there you go
Energy Loss happens at the following places: 1. Generation - Because one cannot switch of the generator, so the energy is dissipated into open or in earth. It is called No Load loss 2. Transmission - 1 to 2% only. The voltage is stepped up to transfer the Power. So V*I remains same. I is reduced so Energy dissipated in heat: i^2 * RT is drastically reduced 3. Distribution - 25% is lost in Theft, Public Infrastructure earthing, Wire Cuts 4. Consumption - At user level (Example: Switching on AC but not using) Energy for Bitcoin Mining can primarily cater to the Generation loss because switching the generator on and off is not easy and takes days. So that part is avoided and Alternate Power cannot be stored. A solution could be that one dissipates that excess power to Bitcoin Miners.
Imagine people being concerned about bitcoin energy consumption when the US has been running one of the most energy intensive operations for decades aka the military industrial complex.
Damn! I work for a power company and just started thinking about these things a few weeks ago! Might need to see about a job with Griid. Thanks for another thought provoking show Peter!! Killing it man.
ZPe would be quite the solution to stopping the tearing-up of nature. It isn't probably going to happen in the foreseeable future. But imagining it could shorten the path to finding and enforcing our rightful place in the universe.
Re nuclear energy. Dr Moore ex greenpeace and founder is pro nuclear and explains climate change and the lovely!!! Greta very well . May be a good interview. Peter 👏✌️👍
Really interesting interview, I’m a fan but his views on nuclear seemed a little rose-tinted. You can’t really have a balanced discussion about it without pointing out the absolute nightmare that radioactive waste management and disposal is.
You can't believe anything you heard. Nuclear is just turbines and steam, its not that complicated. Climate change is a hoax and its purpose is to tax you for the air you breath hahahaha. The govt is wrecking the people and they deserve it for believing all the lies.
Very interesting spin on bitcoin mining using “left over electrons”. Let’s face it, Bitcoin mining is just a huge consumer of electricity like aluminum smelter and steel production in the last century. It’s going to be done wherever there is cheap energy and preferably cold weather because of the heat generated. I’m afraid that is China, who is also making the machines. I hope this works out ok.
if miners are so focused on cheap energy then especially makes more sense to put the carbon tax on the carbon emitters (coal plants) instead of the consumer. (assuming anyone can prove that co2 emission is actually a bad thing for our biodiversity on geological timelines) otherwise someone else will pick up that dirty coal electricity and we are not a step forward.
China is building 6 nuclear reactors right now. Japan has 53 reactors, if your not invested in nuclear your going to miss the greatest energy trade of the century.
I'm an electrical engineer that designs the systems that he "tries" to explain. He does a terrible job of explaining the power delivery system in the U.S. It's pretty bad and uncomprehensible explanation to non-technical people. I think most people watching just ignored all that anyways.
@@nichemarket3219 I don't want to spend the time to explain it. It took 1 minutes to write that comment. Why would I take my time to explain it to some random guy on the internet?
Nuclear power ☢️ plants like Fukushima was built when there were no intel or Microsoft. Designed in the 1950-1960s. Built by late 1960s and early 1970s. Am sure with tge super computers or today we can design better plants.
How about completely ignoring the point that we're still battling Fukushima and still battling Tchernobyl. I'm pro nuclear, but just ignoring these 2 massive disasters is just plain stupid. Also there's a reason why fukushima is built where it is. The sea gives them probably masses of cooling. Also thinking that incompetence is only possible in Ukraine/Russia... That's exactly what led to it. "we're competent so it can't happen".
The typical Bitcoiner behaviour: People spread energy FUD, we know it is wrong but we go down the rabbit hole anyway and dig deep to understand the dynamics so we can call Bullshit with even more conviction. It is really hard not to feel morally and intellectually superior to all the ESG snowflakes. The cool thing is that anyone can take the orange pill, we don’t discriminate and we will forgive anyone that strays off the path if they want to rehabilitate.
The earlier conversation trying to understand where the 'excess' goes was frustrating. It's not 'excess.' There is capacity and there is usage. Let's say for example the power station has the capacity to produce 1000 megawatts. If only 500 megawatts are consumed, 500 megawatts aren't just simply lost into thin air. They just simply aren't used, so it's a loss of potential energy usage, which in power company terms is a loss in potential revenue.
I agree
was wondering the same
Brilliant. Kicking myself for diversifying into altcoins over enviro FUD.
One would assume such depth and honest coverage would have been done in olde days by the BBC. NY TIMES CNBC ABC CBS ETC. thanks Peter
Think of electrical generators or power stations like pumps, they have to keep the system pressurised in order for the electricity to flow. When you turn on things you make a path for the pressure flow through and it relieves the pressure. They always have to keep the pressure above 110/240v or things won't have enough flow (current/amps) but with people turning things on and off all the time there is always a balancing act between how much pressure you're putting into the system and how fast its being relieved. If there is too much pressure they have systems that waste the excess into heat that's the losses, if there is not enough pressure they have to run the generators/pumps harder. Batteries are like balloons that you can pump up to store the pressure and release it at a later date.
Good analogy
just googled the stats and it looks like BTC's current energy usage is on a par with what Google used in 2018, and lower than 2019. I thought maybe it would be more, but there you go
This was one of your absolute best. BZ.
El Salvador, volcano thermal energy Bitcoin mining, that is the new economy to watch.
Energy Loss happens at the following places:
1. Generation - Because one cannot switch of the generator, so the energy is dissipated into open or in earth. It is called No Load loss
2. Transmission - 1 to 2% only. The voltage is stepped up to transfer the Power. So V*I remains same. I is reduced so Energy dissipated in heat: i^2 * RT is drastically reduced
3. Distribution - 25% is lost in Theft, Public Infrastructure earthing, Wire Cuts
4. Consumption - At user level (Example: Switching on AC but not using)
Energy for Bitcoin Mining can primarily cater to the Generation loss because switching the generator on and off is not easy and takes days. So that part is avoided and Alternate Power cannot be stored.
A solution could be that one dissipates that excess power to Bitcoin Miners.
Imagine people being concerned about bitcoin energy consumption when the US has been running one of the most energy intensive operations for decades aka the military industrial complex.
Everything they critique Bitcoin for, the dollar is more guilty of. It's called projection.
Damn! I work for a power company and just started thinking about these things a few weeks ago! Might need to see about a job with Griid. Thanks for another thought provoking show Peter!! Killing it man.
Commenting for the algorithm so more people see this content.
Very interesting. And highly educational!
How are isotopes mined? Who does the digging, and what powers their equipment?
Brilliant chat.
Loved it through n through 👏👏✌️
Very informative, thank you Peter and Harry
Great convo..👏👏✌️ thnksu
So informative, thx
You are a great interviewer and this interview was great!
Power companies are always moving energy to where it it is needed. All power companies have energy traders. My father was an energy trader.
this is great!
Wow what a journey this was!!!!
Great information. Thanks 😊
Peter, great work as usual. Friendly suggestion to have Lawrence Krauss on the show re: thermodynamics and climate.
ZPe would be quite the solution to stopping the tearing-up of nature. It isn't probably going to happen in the foreseeable future. But imagining it could shorten the path to finding and enforcing our rightful place in the universe.
This was insanely awesome. Just wow
Amazing interview!
This guys voice has me in a trance
Another good one.
Wow. That was super interesting! Where do you learn more about his company?
Re nuclear energy. Dr Moore ex greenpeace and founder is pro nuclear and explains climate change and the lovely!!! Greta very well . May be a good interview. Peter 👏✌️👍
Really interesting interview, I’m a fan but his views on nuclear seemed a little rose-tinted. You can’t really have a balanced discussion about it without pointing out the absolute nightmare that radioactive waste management and disposal is.
Except that we now have a technology that runs off the waste and does not create more waste.
You can't believe anything you heard. Nuclear is just turbines and steam, its not that complicated. Climate change is a hoax and its purpose is to tax you for the air you breath hahahaha. The govt is wrecking the people and they deserve it for believing all the lies.
fantastic
Seems like a good dude
Very interesting spin on bitcoin mining using “left over electrons”. Let’s face it, Bitcoin mining is just a huge consumer of electricity like aluminum smelter and steel production in the last century. It’s going to be done wherever there is cheap energy and preferably cold weather because of the heat generated. I’m afraid that is China, who is also making the machines. I hope this works out ok.
The question about solar needs to be solar/battery. Tesla is selling and installing megapacks at grid scale
I wish he asked how miners will do when there are only fees.
120 years from now is outside the scope of a lot of companies
@@DanShirley less than 20 years
If LeBron and Kobe played soccer, USMNT would be unstoppable
Me likey energy. Me likey Bitcoin
39:53 - Bitcoin miner Lambo
if miners are so focused on cheap energy then especially makes more sense to put the carbon tax on the carbon emitters (coal plants) instead of the consumer.
(assuming anyone can prove that co2 emission is actually a bad thing for our biodiversity on geological timelines)
otherwise someone else will pick up that dirty coal electricity and we are not a step forward.
Cheap energy for bitcoin incentive on the black market coal plant
China is building 6 nuclear reactors right now. Japan has 53 reactors, if your not invested in nuclear your going to miss the greatest energy trade of the century.
I hate comments like this, but my guy's Roshe Runs are looking a lil worn. Very interesting content tho
“Boots on the ground” guy
I'm an electrical engineer that designs the systems that he "tries" to explain. He does a terrible job of explaining the power delivery system in the U.S. It's pretty bad and uncomprehensible explanation to non-technical people. I think most people watching just ignored all that anyways.
You state your an engineer and then go on not explaining why he is wrong. I'm down to understand. Post some links to your information.
@@nichemarket3219 I don't want to spend the time to explain it. It took 1 minutes to write that comment. Why would I take my time to explain it to some random guy on the internet?
Nuclear power ☢️ plants like Fukushima was built when there were no intel or Microsoft. Designed in the 1950-1960s. Built by late 1960s and early 1970s. Am sure with tge super computers or today we can design better plants.
How about completely ignoring the point that we're still battling Fukushima and still battling Tchernobyl. I'm pro nuclear, but just ignoring these 2 massive disasters is just plain stupid. Also there's a reason why fukushima is built where it is. The sea gives them probably masses of cooling. Also thinking that incompetence is only possible in Ukraine/Russia... That's exactly what led to it. "we're competent so it can't happen".
Maybe hamas 😂😂
WE KNOW ITS FUD.. zzzzz ,I’m going back to clubhouse
Is this guy the Black Pigeon
First
The typical Bitcoiner behaviour: People spread energy FUD, we know it is wrong but we go down the rabbit hole anyway and dig deep to understand the dynamics so we can call Bullshit with even more conviction.
It is really hard not to feel morally and intellectually superior to all the ESG snowflakes.
The cool thing is that anyone can take the orange pill, we don’t discriminate and we will forgive anyone that strays off the path if they want to rehabilitate.
A bit too old for ripped Jeans one would suggest. It looks silly to pretend you are broke and wearing ripped jeans into your mid forties.
Ask Peter to properly drop yer H next time 'Arry.
Elon just gone woke. Believing non-fact narratives
Bitcoiner Voice
Lets mine bitcoin thru his voice projection - what a man
"I'm gonna use words like MEGAWATTS" Jesus...chill with the jargon, you're talking to bitcoiners...😂
bitcoinfixeseverything