Thread by @CroissantEth

Last week I wrote about @elonmusk’s potential “end game” plan for #Bitcoin& the post blew up far more than I would’ve ever imagined

This has inspired me to write a follow up with some more info on how @elonmusk may be revolutionizing the energy market with $BTC

Let’s begin! 🥐

Earlier, I theorized that @Tesla may have a larger plan for integrating the Bitcoin network than many seem to understand

After all, why would a solar company invest nearly 10% of their cash in $BTC only for Elon Musk to tweet negatively about it almost right after?

https://twitter.com/CroissantEth/status/1399828507849527298

The answer to this question is simple...

Tesla’s main business is in solar energy. This consists of solar roofs, panels, power-walls, utilities & much more

This energy can be monetized with a particular use case including $BTC. @CathieDWood explains this concept further below:

This means that excess clean energy from @Tesla products can be monetized through $BTC mining that would otherwise be put to no use.

@Tesla may help form the “green” $BTC narrative that’s so attractive to investors, all while incentivizing solar energy

(Tradable renewables?)

It is a little known fact that @Tesla actually makes a solid amount of money from selling regulatory credits they earn from the selling of zero emission vehicles

Even more significantly, when near ATH, @Tesla was in more profit from $BTC than an entire year of selling cars...

But how exactly would all of these new miners within the network ensure of 100% uptime in the distributed web of energy markets?

With the combination of satellites (like Elon Musk’s 47,000 from StarLink and SpaceX), we can expect connections in even the most destitute of areas!

The other outside implications of this should not go understated. I could write entire threads on this topic, but I will keep it to the point for simplicity

Let’s first get a basic understanding of renewable energy and how it can be applied to #bitcoin

It is important to understand that renewables are not exactly new to blockchain

In fact, 39% of Bitcoin miners were reported to use renewables to mine their $BTC

But it is their unique particular synergy that may in fact be a revolutionary advancement to the entire world.

#Bitcoin has inherent mechanisms to incentivize location independent energy sources & connect them to the grid where it had previously not been possible

It is quite literally the only profitable use of energy that does not need to be connected to a human society in the world

With the energy market there are never issues in terms of scarcity, it is rather an issue of how to channel that energy geographically

Integrating #bitcoin can serve as a universal “buyer of last resort” for the entire energy market

This is already being seen in cases...

As El Salvador literally built a $BTC mining ecosystem from a volcano in little to no time

Anywhere with a running source of water could monetize their isolated energy sources by using it to mine $BTC

Running water? Mine #bitcoin

Windy? Mine #bitcoin

Volcano? Mine #bitcoin

https://twitter.com/nayibbukele/status/1402714926800674827

This, in effect is would have a substantial economic impact, particularly for less-developed countries.

Until now, the unbanked society could not have access to or use almost any currency but their own countries’, often times subject to inflation

It would be revolutionary.

#Bitcoin provides the foundation for a massive transfer of wealth to the unfortunate majority without the access to easy banking.

Not only is this monetary policy battle-tested, but it has the liquidity, decentralization needed, and it is open to use for all

@elonmusk and others may be turning energy into an asset that is instantly bankable

This is without the need of a middleman, or even internet connection

#bitcoin will single-handedly change the existing economics of energy with a universal profitable source of renewable energy

But we do in fact have beyond just speculation to confirm these rather outlandish assumptions.

It appears an organization is forming of sorts around making this use case a reality.

& it includes some of the worlds best developers in technology who are working on it

What am I referring to?

It’s called the Bitcoin Clean Energy Initiative, a group made to accelerate the use of renewables with $BTC

Members include the likes of Cathie Wood’s Ark Invest, a big asset manager, @Square, a digital payments service provider, and (maybe Elon Musk?)

They recently wrote an in depth research paper (shown above) illustrating the promises of solar Bitcoin mining.

It strangely includes specific use cases for massive energy providers like @Tesla

Take a look:
wintonark.medium.com/bitcoin-mining…

TLDR; it argues that an implementation of $BTC to the grid would effectively bring in more revenue with energy that is otherwise wasted for pennies on the dollar, incentivize renewable energy, and help overall energy provision across the grid.

More key points 👇🏻

Now do you notice that this is exactly what @Tesla says they are trying to do with their virtual power plant...?

It is becoming very clear that they are using blockchain tech, specifically at an aim to help better provision energy on the market with Virtual Power plants 🤔

https://twitter.com/elonmusk/status/1385108424761872387

So, we know they’re all likely working to change energy as we know it, but how close is this all of this to fruition?

@Blockstream and @Square teamed up to & a solar mining facility which can offer us some insight on this

It is just the first of what I believe will become many

https://twitter.com/elonmusk/status/1396914548167233537

I don’t think it’s a coincidence that @jack and @elonmusk are so well interconnected, especially when it comes of $BTC

We have reason to believe that @Tesla may be about to make a move on $BTC in a big way

Just take it from @CathieDWood’s Ark Invest herself:

A key factor limiting the growth of renewables is production cost. Can you imagine a world that is profitable, sustainable, and energy abundant across the globe?

This can change the entire narrative that #bitcoin is bad for the environment, & it makes complete sense for @Tesla

The environmental problems of $BTC is not something new, but it is quickly becoming a big issue for some investors

Many large corporations and institutions now apply a standard known as “ESG” when making investments

This refers to concepts of:

-Environment
-Social
-Governance

What the powerful individuals working at the Bitcoin Clean Energy Initiative are doing is effectively creating the grounds for institutional adoption

Not only will it change the perspective of $BTC as the general society knows it, but it will empower entire new economies to form

Solar energy and #bitcoin will give millions of people access to a decentralized distributed grid & banking services

These moves will pave the way for many more institutions to adopt a Bitcoin mining strategy as part of their business model

I think this is incredible. Enjoy! 🥐

>two grammatical errors after reading it over 100 times