Bitcoin appeals to entrepreneurial self-interest in allowing the monetization of waste, spare, and curtailed energy without the need for transmission and distribution infrastructure. This purely self-interested monetization decision is the activity that secures the network.

Good luck getting the decentralized mining community to shut their #bitcoin miners off.

Being an energy and finance professional, this dynamic alone is enough for me to allocate a huge % of my portfolio to bitcoin. Of course, bitcoin is so much more than just an energy monetization play…which makes me want to have even more of the 21M bitcoins that the protocol offers and enforces.

Reply to this note

Please Login to reply.

Discussion

Hmmmmmm stranded associated gas to S19 pro?

To calculate the level of natural gas production required from a small oil and gas well to generate 3000 watts (or 3 kilowatts) of electricity per hour, let's go through the necessary steps and assumptions:

1. Electricity Generation and Conversion:

o Electricity Demand: 3000 watts (or 3 kW) per hour.

o Efficiency of the Power Plant: Assuming an average efficiency of 50% for a natural gas

power plant.

2. Energy Content of Natural Gas:

o Natural gas typically has an energy content of about 1,000 British Thermal Units (BTUs) per cubic foot.

3. Conversion Factors:

o 1 kilowatt-hour (kWh) is equivalent to 3,412 BTUs.

Given these parameters, let's calculate:

1. Energy Required in BTUs for 3 kWh: 3kWh×3,412BTUs/kWh=10,236BTUs3kWh×3,412BTUs/kWh=10,236BTUs

2. Adjust for Plant Efficiency:

o Since the plant is 50% efficient, double the required energy:

10,236BTUs×2=20,472BTUs10,236BTUs×2=20,472BTUs 3. Convert to Cubic Feet of Natural Gas:

o Assuming 1,000 BTUs per cubic foot of natural gas: 20,472BTUs÷1,000BTUs/cubicfoot=20.472cubicfeet20,472BTUs÷1,000BTUs/c ubicfoot=20.472cubicfeet

Therefore, a small oil and gas well would need to produce approximately 20.472 cubic feet of natural gas per hour to generate 3 kW (3,000 watts) of electricity for an hour in a power plant with 50% efficiency. This is a simplified estimate and actual figures can vary based on the specific characteristics of the well, the gas composition, and the efficiency of the power generation equipment.

To calculate the level of natural gas production required from a small oil and gas well to generate 3000 watts (or 3 kilowatts) of electricity per hour, let's go through the necessary steps and assumptions:

1. Electricity Generation and Conversion:

o Electricity Demand: 3000 watts (or 3 kW) per hour.

o Efficiency of the Power Plant: Assuming an average efficiency of 50% for a natural gas

power plant.

2. Energy Content of Natural Gas:

o Natural gas typically has an energy content of about 1,000 British Thermal Units (BTUs) per cubic foot.

3. Conversion Factors:

o 1 kilowatt-hour (kWh) is equivalent to 3,412 BTUs.

Given these parameters, let's calculate:

1. Energy Required in BTUs for 3 kWh: 3kWh×3,412BTUs/kWh=10,236BTUs3kWh×3,412BTUs/kWh=10,236BTUs

2. Adjust for Plant Efficiency:

o Since the plant is 50% efficient, double the required energy:

10,236BTUs×2=20,472BTUs10,236BTUs×2=20,472BTUs 3. Convert to Cubic Feet of Natural Gas:

o Assuming 1,000 BTUs per cubic foot of natural gas: 20,472BTUs÷1,000BTUs/cubicfoot=20.472cubicfeet20,472BTUs÷1,000BTUs/c ubicfoot=20.472cubicfeet

Therefore, a small oil and gas well would need to produce approximately 20.472 cubic feet of natural gas per hour to generate 3 kW (3,000 watts) of electricity for an hour in a power plant with 50% efficiency. This is a simplified estimate and actual figures can vary based on the specific characteristics of the well, the gas composition, and the efficiency of the power generation equipment.