Sam Wouters joins me to discuss Bitcoin mining, what ultimately secures the network, and the misconception about Bitcoin’s energy expenditure. Sam Wouters is a research consultant and an international speaker. He is currently working as a Bitcoin research analyst at River Financial. // GUEST // Twitter: https://twitter.com/SDWouters Website: https://samwouters.com/ Blog: https://blog.river.com/author/sam/// SPONSORS // In Wolf's Clothing: https://wolfnyc.com/iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/Gold Investment Letter: https://www.goldinvestmentletter.com/CrowdHealth: https://www.joincrowdhealth.com/breedloveWasabi Wallet: https://wasabiwallet.io/Casa (use discount code BREEDLOVE): https://keys.casa/Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/ Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.comCarnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/// OUTLINE // 00:00:00 - Coming up 00:00:59 - Intro 00:02:32 - Helping Lightning Startups with In Wolf's Clothing 00:03:19 - Introducing Sam Wouters 00:03:54 - Introduction to Bitcoin Mining 00:05:18 - Bitcoin Miners: Who They Are and What They Do 00:08:28 - The Bitcoin Mining Lottery System 00:10:22 - The Misconception about Bitcoin's Energy Expenditure 00:14:08 - Understanding the Fixed Supply of Bitcoin 00:15:50 - Proof of Work vs. Proof of Stake 00:19:11 - Monetization of Energy through Bitcoin Mining 00:20:40 - The Importance of Bitcoin Mining 00:24:37 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 00:25:34 - Maximize Your Profits with Gold Investment Letter 00:26:30 - Take Control of Your Healthcare with CrowdHealth 00:27:32 - Energy Expenditure Secures Bitcoin 00:30:37 - The Rational Answer to the Energy Expenditure Question 00:33:29 - Energy Consumption is Integral to Civilization 00:34:57 - The Recent Hike in Bitcoin’s Global Hash Rate 00:40:41 - Increase in Hash Rate Represents the Resilience of Bitcoin 00:45:10 - Central Planners are Betting against the Individual's Self-Interest 00:48:05 - Nation States on Bitcoin Mining 00:52:03 - Bitcoin Mining Network is Immune to Government Restrictions 00:53:25 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 00:54:16 - Hold Bitcoin in the Most Secure Custody Model with Casa 00:55:05 - What Ultimately Secures the Network 00:58:20 - The Relation between Security Budget and Bitcoin's Scarcity 01:00:07 - Where are We with Bitcoin Adoption Globally? 01:05:49 - The Future of Bitcoin Adoption 01:08:06 - The Right Approach to Orange-Pilling Someone 01:11:29 - Pain is the Ultimate Factor 01:13:24 - Where to find Sam on the Internet// PODCAST //Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast...Spotify: https://open.spotify.com/show/25LPvm8...RSS Feed: https://feeds.simplecast.com/MLdpYXYI// SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101// WRITTEN WORK // Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ // SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22All My Current Work: https://vida.page/breedlove22