Putting excess energy from micro-energy sources at the service of bitcoin mining
Electric vehicles produced by You’re here have the particularity of generating excess energy like solar panels, solar roofs and batteries marketed by the company. This surplus which is currently resold in the form of renewable energy credits (REC) is responsible for a large part of the income of You’re here. For me. Szamosszegi, the energy stored in this way can be used to power the devices used in bitcoin mining. “Without cryptocurrency mining, excess energy is either wasted or stored and sold for pennies. From now on, Tesla and other energy companies can turn excess energy into a digital asset, like bitcoin, which is instantly fundable “ he explained.
While most of the activity is concentrated in China, the alternative desired by the founder of Sazmining Inc should help silence critics. Indeed, it would allow the decentralization of the computing power of bitcoin to take place much more quickly. The first results of such a conversion should also encourage other surplus energy producers to facilitate cryptocurrency mining around the world. While M. Szamosszegi sees You’re here breathe new life into the daily life of bitcoin, he can imagine SpaceX use it in his conquest of the planet Mars.
Building an interplanetary economy through a financial system backed by bitcoin
With his second company, Elon musk nurtures the dream of setting up a colony on Mars over the next decade. The long duration of communications between the two planets and the uselessness of the US dollar outside the earth could create a problem during financial transactions. To remedy, SpaceX will have to use a reliable means of transfer to establish a lasting interplanetary economy. The bitcoin network could prove to be a satisfactory answer in this quest according to Mr. Szamosszegi.
“Bitcoin offers a better solution to securely transfer value between planets over a trusted network where 10-minute block delays end up being an advantage rather than a disadvantage. SpaceX Colony can trade locally using a convenient local medium of exchange and safely transfer that value to Earth without middleman or worry about inflationary monetary policies on Earth ” he explained.
While the adoption of bitcoin on Earth is slow to become widespread despite the progress made in recent years, it could therefore become an essential asset in the conquest of the planet Mars. While waiting for Tesla to fuel cryptocurrency mining, the hydraulic fracturing sector is mobilizing to provide the latter with an alternative source of energy.
The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.