Dennis Porter Profile picture
Oct 24 16 tweets 3 min read Read on X
BREAKING: The state of Pennsylvania has passed ‘Bitcoin Rights’ in the House by a sweeping majority. Both Republicans and Democrats united together to pass the bill.

Pennsylvania is poised to be the most important state in the ‘24 election & this bill is poised to play a role👇 Image
Pennsylvania is consistently one of the most competitive swing states in presidential elections, with both parties vying for its critical electoral votes.

Pennsylvania holds 19 electoral votes, a significant prize that could tip the balance in a tight race.
Pennsylvania, has been a key swing state and has been a bellwether for previous elections

In 2016, President Trump won the state by just 0.7% . And in 2020, Biden won the state by a little more than 1%.

Pennsylvania is a critical state to win on the path to the Oval Office.
The state features a politically diverse electorate, ranging from urban, suburban, and rural voters, making it a true test of a candidate’s ability to appeal across demographics.
The state has a significant number of independent and moderate voters who could be swayed by key policy positions, making it a critical battleground for both parties.
In addition to its pivotal role in recent elections, Pennsylvania’s importance is further highlighted by figures like Elon Musk, who has been spending time in the state, recognizing its strategic significance for shaping national dialogue & influencing the 2024 election outcome.
Why ‘BITCOIN RIGHTS’ Matters for the 2024 Election:

Bitcoin adoption is expanding, creating a new and motivated voter base actively searching for political allies who support financial freedom and innovation. Currently, they do not have a home.
Bitcoin voters tend to be highly engaged and vocal about their political preferences, meaning their turnout could be disproportionately high compared to their numbers.

Bitcoiners are highly entrenched to vote in favor of politicians who support bitcoin.
Support for Bitcoin transcends traditional party lines, appealing to voters who prioritize economic freedom, technological innovation, and digital privacy.

Bitcoin also provides a pathway to escape CBDCs, an issue top of mind to many voters.
Voters increasingly seek leaders who understand and promote forward-looking policies. A candidate championing Bitcoin rights can position themselves as pro-innovation and pro-growth, appealing to younger and tech-savvy voters.
Bitcoin is often seen as a symbol of financial sovereignty and resistance to centralization, tapping into broader cultural and political themes of freedom and self-determination, which resonate deeply with many voters.
Politicians who take early and decisive action on Bitcoin rights will benefit from being seen as leaders in a growing, transformative movement, potentially winning the loyalty of voters looking for bold, visionary leadership.
Bitcoin Rights passing in the House gives both Democrats and Republicans a chance to demonstrate leadership on this key new issue. It’s a Democrat-controlled house, yet the bill was sponsored by Republican @RepCabell.
@RepCabell The Bitcoin voter bloc is looking for a home, and both sides have a chance to demonstrate how they will govern. Both sides support the right to self-determination, which this bill would enshrine into law.
@RepCabell With 12 days left until the most important Bitcoin election of our lifetime, now is the chance for both @realDonaldTrump and @KamalaHarris to apply pressure within their parties to ensure this bill makes it across the finish line.
Pennsylvania can be decided by a very small fraction of the electorate. There is no better time to demonstrate leadership on Bitcoin. Demonstrating leadership here can garner valuable votes that could make the difference on Nov 5th and determine who sits in the Oval Office in 2025.

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More from @Dennis_Porter_

Oct 20, 2023
Some say #Bitcoin is the "dark alley" of the financial world, a haven for criminals and even terrorists. But let me paint you a clearer picture. Spoiler: #Bitcoin isn't the 'tool for terrorists' its made out to be.

A thread 🧵about traceability

Tag your lawmakers below!

1/
Contrary to popular belief, Bitcoin is very bad for crime and illicit behavior. It operates on a public ledger.

EVERY single transaction is recorded on the blockchain FOREVER.

Bitcoin may be 'easy to use' by 'anyone globally' but criminals that use it do so at their peril.
#Bitcoin is highly traceable which makes it a poor way to transfer value secretly.

In fact, #Bitcoin is so traceable that terror groups who have used crypto in the past have stopped accepting #Bitcoin because they were getting easily tracked down by authorities. Image
Read 14 tweets
Oct 13, 2023
I am getting a lot of calls about the recent NYT article on #Bitcoin mining.

I appreciate the opportunity to discuss the points brought up by Gabriel and Michael in the NYT piece.

Gabe’s Bitcoin mining concerns:
1. National Security risk
2. Potential for a grid attack

🧵 1/ Image
The NYT article starts off with a startling assertion…

Assertion: #Bitcoin mining sites across America are controlled by ‘Chinese owned’ companies and sometimes those sites are near US military installations, which is a “National Security” concern. Image
Regardless of Gabriel’s unfavorable view on BTC and BTC mining, I agree with him that we should be concerned if our foreign adversaries control land near military installations such as the nuclear missile base he references in Wyoming.
Read 25 tweets
Dec 26, 2022
2021: No miners in Texas, record cold, grid destabilized, 246 recorded deaths

2022: Miners in Texas, record cold, grid stabilized, no recorded deaths

This is the headline everyone should be shouting: #Bitcoin miners stabilize the grid and save lives.
Correction: One death recorded. An individual was found outside a McDonald’s.

texastribune.org/2022/12/23/erc… ImageImage
For some clarity:

In February of 2021 miners had not yet left China. Most hashrate was still outside the USA.

When China banned mining, visionaries like @GideonOPowell worked hard to attract miners to that state.

The “draw to Texas” was the ability to participate in the grid. Image
Read 19 tweets
Dec 13, 2022
Bitcoin miners must get active at the state level!

Utilities are regulated monopolies. They are regulated at the state level by Public Utility Commissions (PUCs) which oversee ‘rate cases’.

These rate cases can kill or grow business for miners in an entire state. Image
Rate cases are used by PUCs (aka PSCs) to determine wether it is lawful for a utility to create new rate schedules or make changes to existing ones.

This regulatory body prevents utilities from using their monopoly powers in an un-ethical manner. Image
Miners have already faced several known ‘rate cases’ of which the outcome has almost always resulted in a less favorable power rates for miners.

The cases that were the “most favorable” were ones where miners got active in the dialogue. Image
Read 13 tweets
Nov 10, 2022
People are mad at FTX for doing the exact same thing that the banks do every day. Don’t believe me? Walk into your bank and ask to withdraw all your money and see what happens.
Some of you are confused. I meant, ask for the cash. If it’s over $10k the bank likely won’t give it to you because they don’t have it.
People don’t realize what a scam the traditional banking system is. Banks will fractional reserve 10x more money than they have. All legal.

The main difference between what happened with FTX and banks is the Fed will backstop. Aka we all pay for the fraud through inflation.
Read 5 tweets
Sep 15, 2022
Unfortunately methane emissions are HIGHLY distributed making the mitigation costly and difficult to scale. Here is a map of methane emissions from orphaned wells from the EPA and one also provided by @Digital_Ore on US landfills.
This is where #Bitcoin mining comes into play. Bitcoin mining needs super cheap energy to stay profitable especially as more miners join the network. Stranded methane is one of the cheapest forms of energy available. Sometimes it’s even given away so the methane can be mitigated.
Let’s go back to the environmental impact of methane.

Due to methane being a potent warming gas for the climate, it receives a higher score when mitigated.

You can read more about this calculation below 👇

climatechangeconnection.org/emissions/co2-…
Read 5 tweets

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