Top 5 Sazmining Essays of 2022
As the year wraps up, I wanted to share some of my favorite articles that our President & COO, Kent Halliburton, and I have written over the last twelve months. Enjoy!
Satoshi’s other big legacy: Bitcoin is propelling a green energy revolution
Bitcoiners are quickly realizing that the Bitcoin network is good for much more than offering a sound global reserve asset. The Bitcoin mining component of Nakamoto’s dream turns out to be the solution to several energy-related problems that humanity faces.
This seemingly never-ending increase in the Bitcoin network’s energy demand has sparked concern among environmental activists. But, perhaps counter to conventional wisdom, Bitcoin mining is the key to a healthier relationship with both energy and the environment.
in addition to a revolution in humanity’s relationship with money, Nakamoto’s innovation has ushered in a second revolution that the original paper did not mention. Bitcoin mining subsidizes renewable energy projects, brings online stranded energy sources far from civilization, and turns what would have been toxic and climate change-inducing waste into digital gold.
Bitcoin: Breaking Up Money and State
For the first time in human history, a technology has been created that once and for all divorces money from the state. This separation of money and state is poised to transform the way we think about value and our expectations of government involvement in our financial lives, and may be the largest cultural-political shift since the separation of church and state.
Bitcoin cannot be created at the whim of some centralized power, taking away the ability of governments to spend wantonly. It may sound utopian, but once humanity evolves to a Bitcoin standard the government-created boom-bust cycle, constant inflation and the ability to fund wars will be things of the past.
Crypto [read: Bitcoin] Offers Plenty For the Political Right and the Left
Bitcoin is indeed a libertarian technology, one that drastically constrains the Leviathan State, fortifies private properties, and empowers the individual.
To be sure, these right-wing libertarian arguments are true. But they are not the only pro-Bitcoin arguments. In recent months, left-wing arguments have emerged for Bitcoin, coming from new progressive voices that recognize Bitcoin’s potential to satisfy their political objectives.
In broad strokes, these progressive Bitcoiners argue that Bitcoin helps to achieve two core left-wing goals: 1) mitigating man-made climate change and 2) empowering individuals in third-world countries who live under oppressive tyranny.
Bitcoin’s Energy Revolution Could Happen Sooner Than We Think
Bitcoin miners serve as energy buyers of last resort, can work from anywhere, and can turn on and off with nearly infinite flexibility. As such, bitcoin mining can render viable renewable and remote energy sources that would have otherwise been unprofitable. Additionally, miners can convert waste energy into digital gold, drastically curbing humanity’s emissions problem. Interestingly, these improvements to our relationship with energy are already underway, even before bitcoin has evolved into the next global reserve asset. Could it be that Satoshi Nakamoto’s unstated energy revolution takes hold before the first revolution of a peer-to-peer cash system? Although we can’t know with certainty, the data suggests that could be the case.
FTX's Fall Will Lift the Next Generation of Bitcoin Maximalists
The collapse of FTX has caused yet another destructive wave to wash over crypto – the world of altcoins, crypto exchanges, and overleveraged entities.
The lesson to sufferers and outside witnesses alike is the same, and it is simple: Self-custody your bitcoin. Do not fall to the temptation of staking rewards, harebrained tokenomics schemes, or the simplicity of using an exchange.
Bitcoin maximalists are called “toxic” for being so hardlined about this issue, but they've been proven right time and time again. A new generation of ardent bitcoin maximalists will be born from FTX's implosion.
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