Today's Opening Belle is brought to you by our partners Eqonex & Utrust
EQONEX: Institutional-grade crypto exchange, built to support and enhance crypto adoption
Utrust: Accept payments in Bitcoin, Ethereum, and major digital currencies
Not enough people truly care about green energy and the future right now, but give them a way to profit from it, and you can bet they suddenly will...
So, Bitcoin was a massive energy problem.
Now it's increasingly part of the solution... 👇👇👇
Previous Macrodesiac podcast guest Dominic Frisby has found more ways that Bitcoin is being used to capture energy...
The cheapest energy in the world is energy that goes unused or is wasted, often stranded renewables in remote parts of the globe. If bitcoin miners can access that energy, they become more profitable. Location does not matter; that energy can be anywhere, and bitcoin mining is constantly seeking it out.
The first relates to gas flaring. This is the practice in the oil and gas industry of burning off the huge quantities of natural gas that rise to the surface as oil is extracted from wells. That gas is often uneconomic to pipe to market and so, to dispose of it, it is flared.
Some $20bn worth of gas is flared every year – as much CO2 and other greenhouse gases are released into the atmosphere as a result as from the use of 200 million cars: 150 billion cubic metres of gas. It’s an extraordinarily wasteful and polluting practice. The World Bank has attempted to impose initiatives to eradicate it, but it continues.
If only the oil and gas industry could find a way to turn that gas to profit, then much of the waste and environmental harm could be averted.
One company, Great American Mining, has found a means to deliver portable bitcoin mining machines, in great crates, to oil and gas fields. That energy from that gas is now used to power bitcoin mining operations.
In July, another start up, Compass Mining, signed a 20-year deal with nuclear fission company Oklo, which builds microreactors. The deal enables Compass to use all the excess energy from Oklo’s microreactors. The partnership is a “beacon” for the intersection of cryptocurrency and clean-energy development, says Oklo CEO Jacob DeWitte.
Bitcoin mining generally is making use of unwanted land close to nuclear power stations, especially in France.
Bitcoin gets singled out for criticism. No other industry receives as much scrutiny, but in fact it is making better use of wasted or renewable energy sources than almost any other large-scale industry in the world.
Read More: Great American Mining & Compass Mining
The great green battle continues between 👆 Innovation & Regulation 👇
The above is the story of a former Enron & Deutsche Bank energy trader (poor guy 🤣) who's getting rich on the back of the EU's carbon pricing 👇
“A rising carbon price is exactly what was intended to address the ‘climate crisis,’ ”
The idea behind the Emissions Trading System is that higher prices will magically fix the underlying problem...
Instead you end up with this...
Which leads to this 👇👇👇
Spain has called on the EU to back measures to limit surging electricity prices as controversy deepens over the cost to ordinary citizens of the bloc’s strategy to reduce carbon emissions.
High prices and charges could provoke a backlash against carbon-cutting initiatives, with Spain in the “eye of the hurricane”.
She added that the EU rules on pricing appeared to better suit countries such as Germany and Poland, which need investment to phase out their large coal industries.
As well as pushing for the bloc to devise a new pricing mechanism, Spain wants the EU to use existing legislation to restrain or push down soaring carbon trading prices.
Sponsored: Easily receive crypto payments with Utrust 👇👇👇
Following on from yesterday's Brexit was actually a good idea...
Well, um. This 👇👇
Does this mean that Brexit was actually a bad idea?
Reading beyond the outrage we find the TERRIBLE news that nurses are being paid more.
What did Anna have to say in 2017?
Guess what Anna, if nurses are being paid more, it will be easier to recruit and retain them.
How about in other sectors?
Data from recruitment firm Reed, first reported by The Sunday Times, has found that average salaries this year have risen by 18pc across hospitality and catering, 10pc in retail and 4pc overall.
According to Reed, the average salary in hospitality is now £26,888 compared to £22,701 last year and £23,425 in 2019. The average salary in retail is now £29,310, it said, compared to £26,758 last year and £23,425 in 2019.
Economists said the staff shortages were due to factors connected to the pandemic, such as the furlough scheme, students studying from home and people having moved out of big cities, as well as Brexit.
That jump in average hospitality pay is just under £350 extra per month.
Understanding economic incentives is key.
If businesses can 'get away' with importing ready-made cheaper labour from abroad, they'll do it.
Which means they won't invest in new technologies or training new staff domestically...
On the other side, the workers.
The economic incentive is important to them too.
Who wants to become a nurse if it means going to university, taking on student loans and then having to fight tooth and nail to earn a decent wage...?
If you increase the pay... you increase the incentive.
Low pay is precisely why these skills shortages exist in the first place.
Sponsored: Nasdaq listed crypto exchange Eqonex are celebrating their birthday! Don't miss out! 👇👇
Solving the energy problem solves the water problem...?
Water is the worlds most precious commodity and freshwater scarcity is already becoming a problem....
This is one solution... 👇👇👇
"The goal is to help people," said Enrique Veiga, the 82-year-old engineer who invented the machine during a harsh drought in southern Spain in the 1990s.
"The goal is to get to places like refugee camps that don't have drinking water."
The devices made by his company, Aquaer, are already delivering clean, safe water to communities in Namibia and a Lebanese refugee camp.
The machines use electricity to cool air until it condenses into water, harnessing the same effect that causes condensation in air-conditioning units.
While other water generators based on similar technology require high ambient humidity and low temperatures to function effectively, Veiga's machines work in temperatures of up to 40 Celsius (104F) and can handle humidity of between 10% and 15%.
A small machine can produce 50-75 litres a day, and be easily carried on a trolley, but bigger versions can produce up to 5,000 litres a day.
According to a video on the company's website the device uses the same energy as a washing machine...
Much like desalination plants, the main 'problem' is the overall energy consumption.
Some creative people are bound to figure out that they can combine renewable energy, Bitcoin mining and water technology, right?
Share this article: