How Bitcoin Will Transform Society’s Understanding Of Energy
Mark Goodwin describes his bitcoin initiation, the relationship between energy and bitcoin and more.
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In a perfect universe, energy could be stored with zero degradation over time, creating a perfect battery. While the laws of thermodynamics deny this possibility, Bitcoin is the best representation of an entropy-resistant monetary system that humans have ever seen. Few explain this as well as Mark Goodwin can, and he did so in our most recent episode of “Meet The Plebs,” the first on Bitcoin Magazine Live. Check out our interview where he explains how he got into Bitcoin, its impacts on the world and more.
How were you first introduced to Bitcoin?
Strangely enough, I was working at a bar in San Francisco and the gentleman that set up Silk Road 2.0 right after the seizure was a regular, unbeknownst to us. He bought an early edition Tesla, back when they were rare, using bitcoin, and I rode in Dread Pirate Robert 2’s Tesla purchased with bitcoin in early 2014. He taught me a bit. I used it as a currency but sadly didn’t start saving with bitcoin until 2017.
What’s the primary “life lesson” that you have learned from your time in bitcoin?
Too many to reduce. But definitely hope and purpose. And that there is another way to the systems you’ve been brought up in. That intentions aren’t nearly as important as incentives. Bitcoin really changed my life in a tangible way as it gave me a place to put my energy and economic activity in lieu of partying and the destructive lifestyle I was living at the time in the bar world.
What’s the primary change for the world you want to see come out of the adoption of bitcoin?
For people to know and learn that they can create a better world with collaboration, upkeep and effort. More time for people to pursue the arts and love and family.
Your first article discussed the idea of energy-backed currency beyond the petrodollar — the bitcoin dollar. Can you speak to the link between energy and money and how bitcoin iterates upon this?
Money is a form of energy. Human capital is a form of energy. By linking our savings technology to energy-derived money, we make it hard to dilute with cheap and free monetary supply expansion.
To bounce off of the previous question, your next article addressed bitcoin’s impact on energy storage, the duck curve and efficient usage of energy. How does bitcoin help us allocate energy more efficiently given the physical limitations (i.e., sun goes down) of renewable production?
By being a buyer and seller of last resort, these bitcoin farms can turn high capacity sources like nuclear that often are creating high wattage at low demand times profitable, as well as low capacity sources like solar to expand their arrays to meet demand while always having a market to monetize said energy.
What are you most looking forward to in the Bitcoin space?
Community that will come from dreamers, engineers, believers, creators and lovers coming together and slaying the beasts of our old system. Bitcoin is a means to an end. I look forward to that end.
Price prediction for 2022, and the end of 2030?
2022: We will break six figures.
2030: We will have broken seven figures.
