Riot's Gigawatt Deal and the Petrodollar's Exit
synopsis
Recorded back-to-back with episode 039 (only 2 blocks apart). Ian covers the Erlay BIP for faster Bitcoin network synchronization, Jack Dorsey's AT Protocol (decentralized social media), and the Riot/ERCOT deal for a 1-gigawatt mining facility in Texas. The petrodollar system faces existential threat as Saudi Arabia signals joining BRICS.
quotes
"We export the dollar. That is the number one thing that we ship to the world."
"Venezuela could use this... you've embargoed all my oil. What if I just burn it here, use some Bitcoin miners, turn it into Bitcoin?"
"Within two years, no Bitcoiners will be on Twitter."
"It is a battery... a battery that's using all the energy in itself all the time."
"I got a peaker plant that I could spin up in one second. What's that worth to you?"
"India and China make up 85% of that group... you end up in the same position where you can be bullied."
topics
Erlay BIP: faster Bitcoin network synchronizationJack Dorsey's AT Protocol (decentralized social media)Bring Your Own Algorithm conceptRiot's 1-gigawatt mining facility deal with ERCOT (Texas)Bitcoin mining as grid battery equivalentSaudi Arabia signaling exit from petrodollar / joining BRICSBRICS reserve currency proposalSubstack migration and podcast metricsUmbrel node update process