Bitcoin Mining 101 with Harry Sudock

“What Bitcoin does is it demonetises the political class and empowers the productive class... that’s what better money does for people is it takes the people who are just rent-seeking in our political structure, and it says to them, ‘I’m sorry, but you don’t belong here because you don’t produce anything or create any net economic positive’.”— Harry SudockLocation: New YorkDate: Sunday 19th SeptemberCompany: Griid InfrastructureRole: VP of StrategyBitcoin mining requires energy expenditure as a fundamental pillar of the proof-of-work consensus mechanism. While bitcoin is considered energy-intensive by some, it is often misreported in the media, overlooking its importance and the positive benefits for humanity of having sound money.Similarly, while some criticise bitcoin mining as wasteful, there is ignorance regarding how mining companies are improving communities, the efficiency of the energy grid, and even the impact of energy use itself.So how is bitcoin mining a driving force for beneficial change?In this interview, I talk to Harry Sudock, Vice President of Strategy at Griid. We discuss how bitcoin mining works, mining as a force for good globally, and demonetising the political class.This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesSportsbet.io - Online sportsbook & casino that accepts BitcoinCasa - The leading provider of Bitcoin multisig key security.Exodus - The world's leading Desktop, Mobile and Hardware crypto wallets.Ledger - State of the art Bitcoin hardware walletCompass Mining - Bitcoin mining & hosting-----WBD400 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.