hashing2heating

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Troy Cross and Bitcoin Bassload Treble + Bass = Energy Grid Harmony   In this electrifying episode of BitBuyBit, Max and Jon speak with energy market expert and Pleb Miner Mafia Capo, Bitcoin Bassload as well as Philosopher and Bitcoin enthusiast Troy Cross from the Bitcoin Policy Institute.   The relationship between Bitcoin mining and the American energy industry is complex, nuanced, wrought with acronyms, oversight, and regulation. The purpose of this conversation is to find where we agree and disagree on the relationship between Bitcoin mining and the energy industry and what we as Pleb Miners can do when our energy is focused and pointed in the same direction. Troy and Bassload come from different perspectives when looking at the relationship between Bitcoin mining and energy, but their hearts and minds are focused on making sure that Bitcoin wins.   In this discussion Bassload defines terms like the Federal Energy Regulatory Commission (FERC), Regional Transmission Organizations (RTO), and Independent Systems Operators (ISO) and explains how regulation and government policy steer energy markets. He discusses the Physical Grid versus Policy Grid, balancing authorities, generation fleet mix, and Meredith Angwin’s fatal trifecta for the grid: over reliance on renewables, backing up the renewables with just in time resources, and overdependence on neighbors. Bassload offers advice on creating relationships with energy providers: 1. Print the load 2. Pay an invoice. Bitcoin Bassload’s Energy Market Inflows can be found on his Substack in which he puts out frequent updates.    Troy discusses the unique characteristics of Bitcoin mining and its relationship with energy, particularly in the context of environmentalism and regulatory arbitrage. He highlights that Bitcoin's decentralized nature and algorithmically fixed production makes it resistant to local regulations and taxes. His point in conveying this, is that Bitcoin mining can take advantage of excess energy in regions with corrupt governments, it can bypass restrictions, and potentially disrupt the energy market. The discussion emphasizes that Bitcoin's fundamental value is tied to the cost of energy rather than fiat currency. Over the long term, government regulations and subsidies may not significantly impact Bitcoin mining, or its adoption. Troy expands on this theory in this recent article.   Treble and Bass = Grid Harmony   Terms and Definitions   FERC- FERC was originally called the Federal Power Commission to then become the Federal Regulatory Commission created on October 1 1977. The FPA was originally designed to coordinate federal hydropower development (in 1920) then in 1935 it was given the independent regulatory status to then regulate both hydropower and electricity.  Then in 1938 the natural gas act gave FPA jurisdiction over interstate NG pipelines and wholesale sales.  FERC was created due to a response to the oil crisis of 1973 and thus passing the Department of Energy Organization act of 1977 in an effort to consolidate agencies into a ‘department of energy’. DOE was born.  Congress insisted that the independent regulatory body be retained. FERC originally was to determine whether wholesale electricity prices were unjust and unreasonable  If so regulate the pricing and give some refunds to ratepayers FERC an independent organization that its commissioners are appointed by the president and confirmed by the senate Order 888 was issued in 1996 which created the RTO’s (regional transmission organizations) in response to the Energy Policy Act in 1992.       RTO’s- Organized by FERC to have what were the former power pools to ‘rebrand’ themselves as independent transmission operators that would be able to compete in a wholesale electric market administered by RTO’s.  PJM, NYISO and ISONE were first in line. Like an ISO they operate transmission systems and develop innovative procedures to manage transmission equitably.    ISO’s- Independent System Operators were designed to consolidate and manage the operation of transmission facilities to provide nondiscriminatory open transmission service for all generators and transmission customers.   Traditional wholesale markets were in the SE, SW and NW and most were vertically integrated where they own generation, transmission and distribution systems to serve electricity consumers.  They also many include federal systems: Bonneville Power System Tennessee Valley Authority Western Area Power Administration   At the wholesale level, the RTO’s and the ISO’s is managing economic dispatch of generators and its auctions to the clearing price.  Less expensive power gets dispatched first.  RTO controls the bids, they know the cost of fuel, and they know the marginal cost of the next kwh your generator plant makes.  One can add a risk premium to the bids but the RTO’s are checking. (Meredith Angwin)    TYPES of RTO’s and ISO’s CAISO- California Independent System Operator ERCOT- Electric Reliability Council of Texas SPP- SouthWest Power Pool MISO- Midcontinent Independent System Operator (15 states and canadian province of Manitoba)  SouthEast Power Pool PJM- Pennsylvania New Jersey and Maryland NYISO New York Independent System Operator ISONE Independent System operator of New England    Vertically integrated- this is where the same entity owns all of the generation, transmission and distribution to service electricity consumers in the given region that they are in.   PUC’s- Public Utility Commission were designed to do a couple of things: Balance the needs of consumers AND utilities  Ensure safe and reliable utility service at reasonable rates Protect public interest Educate consumers to make independent and informed utility choices Typically the PUC’s were designed for the consumer, but they are also heavily “in bed’ with the utilities Regulate electric, gas, telecommunications, water and wastewater facilities Typically appointed by the governor serving 4-6 year terms. Typically regulate all investor owned utilities in their state Municipalities and cooperative utilities are often exempt from PUC regulations    PUCs often use non-adjudicatory processes to address new and evolving issues. This would include traditional rulemakings, in addition to informal stakeholder collaborative processes. Over the past decade, the stakeholder process has become one of the mainstays of issue resolution. In these proceedings, professional facilitators are often used and the parties work toward a narrowing of issues or their complete resolution through a negotiated or shared agreement. Typical participants include utilities, ratepayer advocates, environmental advocates, and industry advocates.    Load Shape- the amount of energy consumption one uses, measured in watts or kilowatts over a period of time.  When looking at the curve of how that energy is consumed, the shape of that curve is what is monitored.  If flat, good.  If not and seeing spikes means that the shape is inconsistent with the amount of watts consumed over time   BTU- A British Thermal Unit, the base unit of measure for measuring energy in the US.  a btu is the amount of energy required to heat one pound of water    Joule- joule, unit of work or energy in the International System of Units (SI); it is equal to the work done by a force of one newton acting through one metre. Named in honour of the English physicist James Prescott Joule, it equals 107 ergs, or approximately 0.7377 foot-pounds.   Watt- the SI unit of power, equivalent to one joule per second, corresponding to the power in an electric circuit in which the potential difference is one volt and the current one ampere. 1 watt = 1J/s   Baseload- Baseload electricity generation creates 24/7 power to the grid to meet the base energy needs of the U.S. While peaking generation must follow the varying hourly electricity needs as demand rises and falls, base load generation operates constantly to support the increment of demand that is always there no matter the time of day or day of the week. https://energytransition.nema.org/wp-content/uploads/2023/01/NEMA-QuickFacts-Baseloadgeneration.pdf   Balancing Authority- The BA makes sure that the supply of power on the grid is exactly matched with the requirement for power always.  The BA must keep voltage within a narrow range and balance demand on the grid.  The BA must also make sure that the VARs (Volts Amps Reactive) are in balance. Refer to page 28-30 of shorting the grid.  “A well run grid is like a good bicyclist on a smooth road, while a more difficult grid (more sudden ups and downs in power or energy requirements) requires more of a balancing-type energy (Meredith Angwin).  60Hz or 60 cycles per second in the US 50HZ or 50 cycles per second everywhere else The responsible entity that integrates resource plans ahead of time, maintains load-interchange-generation balance within a balancing authority area, and supports interconnection frequency in real time.   Energy Auction House- mentioned above and see pages of Mereidth Angwins book shorting the grid pages 91-93   Generation Fleet Mix Nuclear  Coal Natural Gas Oil Hydro Solar Wind Geothermal   Renewable energy- Renewable energy is energy produced from sources like the sun and wind that are naturally replenished and do not run out. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. Non-renewable energy, in contrast, comes from finite sources that could get used up, such as fossil fuels like coal and oil. (DOE definition) energy from a source that is not depleted when used, such as wind or solar power. "the environmental benefits of renewable energy" (Oxford Dictionary)   Net Zero- net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance. To ‘go net zero’ is to reduce greenhouse gas emissions and/or to ensure that any ongoing emissions are balanced by removals. (university of oxford) REC- Renewable Energy Credits A renewable energy certificate, or REC (pronounced: rěk, like wreck), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation. RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource. RECs include several data attributes, including:* Certificate data Certificate type Tracking system ID Renewable fuel type Renewable facility location Nameplate capacity of project Project name Project vintage (build date) Certificate (generation) vintage Certificate unique identification number Utility to which project is interconnected Eligibility for certification or renewable portfolio standard (RPS) Emissions rate of the renewable resource *Note: This list is not exhaustive and, depending on the market in which the REC is generated, other attributes may be associated with the certificate   Three buckets  o   financial- everything to do with pricing, hedging, derivative markets for energy, from wholesale to retail  o   physical- infrastructure related, engineering and design of the implementation and installation of large equipment o   regulatory- politics, rules and regulation from governing bodies aka FERC, DOE, PUC, ISO, RTO and alike.   We hope this to be the first of many discussions on Bitcoin’s relationship with energy markets and energy providers. If you enjoyed the discussion in this episode, let us know by boosting on Fountain.    Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf   Ungovernable Misfits Socials https://www.ungovernablemisfits.com   Twitter  https://twitter.com/ungovernablemf     Show Sponsor - Foundation Devices   Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty. As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil,”    Thank you Foundation Devices for sponsoring the show.  Use code BITBUYBIT at check out for $10 off your purchase.   https://foundationdevices.com   Show Sponsor: sx6.store   SECURE YOUR BITCOIN IN MARINE GRADE, 316L STAINLESS STEEL!

Jason Maier — author of A Progressive’s Case for Bitcoin — joins Dan & Josh for a discussion about bringing Bitcoin to a wider audience.  In a world filled with animosity towards opposing perspectives, it’s important to have an open mind and actually LISTEN to other viewpoints. WE COVER: Why we ALL want better money Meatheaded Competitions A Progressive’s Case for Bitcoin Get out of your Political Bubble Green Energy/Bitcoin & Progressives Bitcoin is not Inevitable BLUE COLLAR BITCOIN PODCAST DISCLAIMER HERE  Watch video of this chat on YouTube here ITEMS MENTIONED: A Progressive’s Case for Bitcoin (C. Jason Maier) Jason's website SHOW SPONSORS: HEATBIT— Earn Passive Income while heating and purifying the air in your home!  The Heatbit is a Bitcoin miner that can produce up to $25 of Bitcoin per month while using the same amount of energy as  any regular heater. HEAT. PURIFY. EARN. REPEAT.  Use Code BCB or Click the link for 5% off https://heatbit.com/?ref=BCB CROWDHEALTH BTC — Visit joincrowdhealth.com/bcb and use code BLUE to get 1st 3 months massively reduced at $99/month. Harness the Power of Bitcoin + Health Care. Code BLUE SWAN — The place we choose to buy Bitcoin. Dollar cost average daily, weekly or monthly with a company that’s Bitcoin only and encourages you to hold your own private keys. Visit Swan.com. For Swan PREMIUM FREE click HERE and use PASSWORD: bluecollarbitcoin COINKITE — promo code BCB for discount on ColdCard. Industry leaders in Bitcoin security hardware and fun devices, makers of the COLDCARD and other prominent items including opendime, satscard, tapsigner, the seedplate, coldpower, blockclock mini & blockclock micro. All available at coinkite.com START9 — Sovereign computing. Take back control of your data. Run a Bitcoin & Lightning node. Server Lite: A small uncompromising personal server, capable of running BTC Core. Server One: Perfect for someone who wants to run 25-35 services Server Pro: The most powerful, secure, and reliable private server in the world. Visit Start9.com BITCOIN 2024: promo code BCB for 10% off tickets. Happening in Nashville July 25-27 2024, Get tickets early and get the best price possible! Visit b.tc/conference BITCOIN AMSTERDAM / BITCOIN 2024: promo code BCB for 10% off tickets.  Amsterdam happening this October 12-13th.  Bitcoin 2024 happening July 25-27, 2024. Get tickets early for the best price! Visit b.tc/conference SUPPORT THE BCB PODCAST: Podcast 2.0 streaming on our favorite pod app, Fountain: You can earn & stream sats on Lightning Network while listening to pods! Also share and listen to standout clips with the Fountain community. SOCIAL MEDIA You can follow Josh & Dan @blue_collarbtc, and you can find Jason @cjasonmaier  Blue Collar Bitcoin on NOSTR: npub1a3hrd4wfawr578d5y5l0qgmh7lx8q6tumfq0h7eymmttt52veexqkcfg37 Video on YouTube — Subscribe Here EMAIL: Send questions or comments to bluecollarbitcoinpodcast@gmail.com

Jason Maier — author of A Progressive’s Case for Bitcoin — joins Dan & Josh for a discussion about bringing Bitcoin to a wider audience.  In a world filled with animosity towards opposing perspectives, it’s important to have an open mind and actually LISTEN to other viewpoints. WE COVER: Why we ALL want better money Meatheaded Competitions A Progressive’s Case for Bitcoin Get out of your Political Bubble Green Energy/Bitcoin & Progressives Bitcoin is not Inevitable BLUE COLLAR BITCOIN PODCAST DISCLAIMER HERE  Watch video of this chat on YouTube here ITEMS MENTIONED: A Progressive’s Case for Bitcoin (C. Jason Maier) Jason's website SHOW SPONSORS: HEATBIT— Earn Passive Income while heating and purifying the air in your home!  The Heatbit is a Bitcoin miner that can produce up to $25 of Bitcoin per month while using the same amount of energy as  any regular heater. HEAT. PURIFY. EARN. REPEAT.  Use Code BCB or Click the link for 5% off https://heatbit.com/?ref=BCB CROWDHEALTH BTC — Visit joincrowdhealth.com/bcb and use code BLUE to get 1st 3 months massively reduced at $99/month. Harness the Power of Bitcoin + Health Care. Code BLUE SWAN — The place we choose to buy Bitcoin. Dollar cost average daily, weekly or monthly with a company that’s Bitcoin only and encourages you to hold your own private keys. Visit Swan.com. For Swan PREMIUM FREE click HERE and use PASSWORD: bluecollarbitcoin COINKITE — promo code BCB for discount on ColdCard. Industry leaders in Bitcoin security hardware and fun devices, makers of the COLDCARD and other prominent items including opendime, satscard, tapsigner, the seedplate, coldpower, blockclock mini & blockclock micro. All available at coinkite.com START9 — Sovereign computing. Take back control of your data. Run a Bitcoin & Lightning node. Server Lite: A small uncompromising personal server, capable of running BTC Core. Server One: Perfect for someone who wants to run 25-35 services Server Pro: The most powerful, secure, and reliable private server in the world. Visit Start9.com BITCOIN 2024: promo code BCB for 10% off tickets. Happening in Nashville July 25-27 2024, Get tickets early and get the best price possible! Visit b.tc/conference BITCOIN AMSTERDAM / BITCOIN 2024: promo code BCB for 10% off tickets.  Amsterdam happening this October 12-13th.  Bitcoin 2024 happening July 25-27, 2024. Get tickets early for the best price! Visit b.tc/conference SUPPORT THE BCB PODCAST: Podcast 2.0 streaming on our favorite pod app, Fountain: You can earn & stream sats on Lightning Network while listening to pods! Also share and listen to standout clips with the Fountain community. SOCIAL MEDIA You can follow Josh & Dan @blue_collarbtc, and you can find Jason @cjasonmaier  Blue Collar Bitcoin on NOSTR: npub1a3hrd4wfawr578d5y5l0qgmh7lx8q6tumfq0h7eymmttt52veexqkcfg37 Video on YouTube — Subscribe Here EMAIL: Send questions or comments to bluecollarbitcoinpodcast@gmail.com

Lisa Hough typifies the type of investor we like to learn from. She has a top-class background in commodities trading, which means her understanding for Bitcoin & energy are second to none, whilst she’s already worked for some of the biggest names in the Bitcoin industry. *Apologies for the audio quality on my end, I'm not sure why my mic had an issue, we'll make sure it doesn't happen again!* In this episode you will learn about: 0:06 Why is Bitcoin a critical part of an investment portfolio? 0:55 What is her % allocation to bitcoin? 1:11 Background as a commodities trader 4:31 How this helped her understand Bitcoin 6:37 Energy, Berkshire Hathaway & BTC mining 17:17 Leaving commodity trading for Bitcoin 20:10 Information gathering 26:19 Comparing risk 32:32 The future 37:37 Excess energy 39:57 How to approach energy companies 42:04 Audience question: Bitcoin Alive 2024 Find all our podcasts on our website: ⁠⁠The Bitcoin Adviser Podcasts⁠⁠ Relevant links: Lisa Hough on Twitter Resource: Bitcoin as an investment Website: Gridless BTC mining in Africa Get in touch with us: ⁠⁠www.thebitcoinadviser.com⁠⁠⁠⁠⁠ Join our referral program and earn 10% per client: ⁠⁠The Bitcoin Adviser Referrals⁠⁠⁠⁠⁠⁠ Keep up to date: ⁠The Bitcoin Adviser⁠⁠⁠⁠⁠ on Twitter Subscribe to ⁠The Daily⁠⁠⁠⁠⁠ for Bitcoin stories, insights & strategies. Please help us grow: Subscribe, rate & share Leave a comment, we'll get back to you Thank you for your time listening to the show. Best, Jake and The Bitcoin Adviser team

Lisa Hough typifies the type of investor we like to learn from. She has a top-class background in commodities trading, which means her understanding for Bitcoin & energy are second to none, whilst she’s already worked for some of the biggest names in the Bitcoin industry. *Apologies for the audio quality on my end, I'm not sure why my mic had an issue, we'll make sure it doesn't happen again!* In this episode you will learn about: 0:06 Why is Bitcoin a critical part of an investment portfolio? 0:55 What is her % allocation to bitcoin? 1:11 Background as a commodities trader 4:31 How this helped her understand Bitcoin 6:37 Energy, Berkshire Hathaway & BTC mining 17:17 Leaving commodity trading for Bitcoin 20:10 Information gathering 26:19 Comparing risk 32:32 The future 37:37 Excess energy 39:57 How to approach energy companies 42:04 Audience question: Bitcoin Alive 2024 Find all our podcasts on our website: ⁠⁠The Bitcoin Adviser Podcasts⁠⁠ Relevant links: Lisa Hough on Twitter Resource: Bitcoin as an investment Website: Gridless BTC mining in Africa Get in touch with us: ⁠⁠www.thebitcoinadviser.com⁠⁠⁠⁠⁠ Join our referral program and earn 10% per client: ⁠⁠The Bitcoin Adviser Referrals⁠⁠⁠⁠⁠⁠ Keep up to date: ⁠The Bitcoin Adviser⁠⁠⁠⁠⁠ on Twitter Subscribe to ⁠The Daily⁠⁠⁠⁠⁠ for Bitcoin stories, insights & strategies. Please help us grow: Subscribe, rate & share Leave a comment, we'll get back to you Thank you for your time listening to the show. Best, Jake and The Bitcoin Adviser team

VALUE FOR VALUE Thank you to the Bowl After Bowl Episode 263 Producers: SircussMedia, Joshua Dennis, harvhat, MakeHeroism, Anonymous, Lavish, Dirty Jersey Whore, HeyCitizen, Kyrin, Boo-Bury, EastsideTony, Karnage, memes1337 INTRO/OUTRO: CHRISRGMFB - Radical Heights An American in Montreal by Chris Wenske PodcastGenerator ON CHAIN, OFF CHAIN, COCAINE, SHITSTAIN Sam Bankman-Fried sent to jail after judge revokes bail (The New York Times) TOP THREE 33 Man found unconscious with 33 grams of meth in car outside gas station in Georgetown, SC (ABC 4 News) IS claims responsibility for an attack that killed 33 Syrian soldiers, and [sic] vows to keep fighting (Associated Press) Beijing flooding kills at least 33 after northern China hit by Typhoon Doksuri (Sky News) World's 'original supermodels' reunite for first Vogue cover together in 33 years (New York Post) Taylor Swift boosted Silicon Valley economy by $33 million (KTVU) BEHIND THE CURTAIN TerrAscend says Morgan Stanley, Bank of New York Mellon lifted custody ban on cannabis for Toronto Stock Exchange listing (Market Watch) Department of Health and Human Services has no record of a letter from the Biden Administration regarding a pot scheduling review (On Drugs Substack / Matt Zorn / Shane Pennington) US Department of Justice says federal appeals court 'incorrectly decided' gun ban for pot consumers is unconstitutional (US DOJ brief) Here is the court's ruling. DEA considers delta-8 products federally illegal when synthesized from CBD (On Drugs Substack / Pennington) California AG Petitions state court for order to seize assets from an unlicensed pot dispensary (JDSupra) Florida Gov. Ron DeSantis signs bill banning pot ads promoting 'recreational' use (HB 1387) Missouri receives 1,600 applications for microbusinesses (St. Louis Today) Montana regulators being sued over state's residency requirements for owning or investing in pot businesses (Helen Air) NH Gov. Chris Sununu signs bill decriminalizing fentanyl and xylazine test strips (New Hampshire Bulletin) along with bill creating commission to draft legislation to legalize pot sales through a system of state-run stores (Governor.NH.gov) Adults-only farmers market in New Paltz, New York showcases legal marijuana products (CBS New York) NYC landlords can now be fined $10k per raid for renting space to illegal weed sellers (New York Post) Wisconsin Gov. Tony Evers signs bill increasing penalties for people who 'cause the death of another human being by manufacture, distribution, [delivery of] or [administering]' certain drugs (SB101) Associations between monthly cannabis use and myocardial infarction in middle-aged adults (The American Journal of Cardiology) METAL MOMENT Tonight, the Rev CyberTrucker brings us Nightwish's Phantom of the Opera cover. FIRST TIME I EVER... Bowlers called in to talk about the First Time They Ever had a surprise party. Next week, we want to hear about the First Time YOU Ever went to an outdoor movie. Call or text: (816) 607-3663 FUCK IT, DUDE. LET'S GO BOWLING. Illinois man stabs father to death over using pot before work (WGN9) Mom finds woman's body in son's bedroom (NY Post) Tampa Mayor Jane Castor reels in 70 pounds of cocaine during family fishing trip to the Florida Keys (CBS News) Three hog hunters die in sewer tank trying to rescue dog (Fox 8) Large creature with 20 arms found lurking in Antarctic sea, it's a new species (Miami Herald) A new gray wolf pack is found 200 miles south of California's nearest-known pack (NPR) Colorado driving instructor plowed into business' building (FOX) Finnish man places 26.5 pounds of dynamite in a friend's vehicles, claims it was a joke (AP) Mother flew 4,000 miles to give birth on the beach, now stuck in St. Lucia (NY Post) Spider with erection-inducing bite shuts down Austrian supermarket, owners insist store is safe to reopen (Fox 10 Phoenix)

Today we are joined by Karim Helmy, an independent researcher. Karim walks us through his novel use of nonce analysis to study the ASIC topography of the Bitcoin network and energy footprint. https://twitter.com/karimhelpme/status/1668592283871244288 https://coinmetrics.io/special-insights/bitcoin-nonce-analysis Karim Helmy: https://twitter.com/karimhelpme Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:47 What is nonce analysis? 03:19 Karim's nonce research 06:29 Why aren't the chips random? 08:10 Why are models showing before their release date? 10:22 Top rigs mining the network 12:56 Antminer dominates the chart 13:57 Energy draw of the network 18:03 Is Cambridge obsolete? 21:02 Data next steps 23:21 Using data to inform purchasing times/prices? 24:31 Charting new machines MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining