Elon Musk’s recent tweet where he bemoans the exorbitant use of energy to maintain the Bitcoin infrastructure was, at best, lame. Enough has been said on Twitter in response. For our very first Medium article (we know we’ve been slack in here), we are going to take a closer look at where the energy can come from, aka Musk style.
Let’s see… 500 Terrawatts hours comes from about 60 Gigawatts of power generation — anywhere: wind, solar, coal, nuclear. Anything to get those electrons whizzing down the wire. But what does that mean in everyday language? How many toasters is that?
Well, as of today there are about 19,000,000 or so Bitcoin in existence. That’s only ~26 Megawatt hours per year per Bitcoin. That really is peanuts: the same as two toasters — about 3 Kilowatts. (Or a kettle and a toaster if you like tea with your toast).
So what does 60 Gigawatts mean? Well for a start it means about 10 Barakas — the newly fired up nuclear power behemoth in the United Arab Emirates. The beast in the UAE will likely be producing power for Arabs in air-conditioning for the next 100 years (and not a carbon atom in site). Note that meanwhile over at Masdar the solar panels would have been replaced 5 times in that time, but let’s not go there today.
Let’s take it closer to Musk’s home: the Falcon Heavy. It has launch weight of ~500 tonnes, reaches 25,000 km per hour in minutes and uses 27 Merlin rockets producing a total of 1.6 giga Watts to do it. So Elon, set up only 35 Falcon Heavies and you’ll be powering the entire worlds’ Bitcoin energy needs. Sounds reasonable.
60 Gigawatts is also 1,500 square km of solar panels or 6,700 square km of wind. Don’t forget you’ll also be duplicating this with 60GW of fossil fueled power generation for those calm, cool nights. Want to walk around a 60 GW solar power station? It will take you a day and a half (30 hours).
What else can be said about renewables? Yes, they need to renewed — every 20 years. Throw them out and start again. Recycling is not possible presently. Complex fiber plastic poly composite — and incredible long — blades, sitting atop incredibly high towers. Acres of integrated glass, aluminum and silicon wafer panels, locked in steel frames. After only 20 years, Germany is learning the hard way with carbon numbers and costs doubling since going all in for renewables. Meanwhile neighbouring France is happy to provide Germany’s energy shortfalls with solid, 50-year-old reliable nuclear fission. Sauerkraut anyone? Or a croissant?
So is 500 Terrawatt hours that much after all? Not really. Especially if you go with Fission and especially if you go Molten Salt Fission with Thorium. Low pressure Thorium Molten Salts — what a magical technology! Thorium Molten Salt is Carbon free, the waste volume can be considered zero, and the land requirements equally insignificant: A factor of 10 time less than the already tiny requirements for conventional solid fuel fission systems which is about 20 times less than solar and 150 less than wind. Remember to factor in the mining required for the raw materials for each of these systems. Thorium Molten Salt trumps in all sectors.
In the scheme of things 500 Terrawatt hours is a drop in the ocean when considering the energy all around us, literally. Even in the dirt under our feet there’s about 2 grams of Thorium in every cubic meter it. It only takes 125 cubic meters of earth, or more simply, 250 grams of Thorium to provide the energy for a persons’ entire life time. For all transport, heating and cooling, clothing, food and accommodation! (Thereabouts. The factors vary considerably and we like round numbers).
Consider these most recent factoids to get you excited about Fission energy production from Thorium Molten Salt technology.
- Andrew Yang promised to put the entire 20 Trillion US GDP economy onto Thorium Molten Salt — by only 2030, with a budget of a handful of billions. A get-me-elected promise? Perhaps, but Andrew is a successful businessman. He has a track record of delivering.
- Bill Gates entered the Thorium Molten Salt technology space with an ultra low profile media release on the eve of the US elections-in November last year. We don’t think he needed the press. Indeed his business partners in the UK, Core Energy, successfully closed their funding raise on that news a few weeks later. Check out the low profile notice release: https://splash247.com/bill-gates-joins-nuclear-powered-shipping-push/
- China rolled out their 2MWt Thorium Molten Salt test cauldron , also in November of last year, also amid low level of press.
- And Turkey has gone public with their Thorium Molten Salt ambitions.
So back to Bitcoin and the crypto world.
Michael Saylor, the high profile CEO with USD2b bitcoin treasury is buying the dip. Why? Fiat cash is devaluing at percentages per month, so after 10 years Tesla’s billion dollar vault would be empty without Bitcoin. Bitcoin isn’t going away, no matter what is said about it.
Granted, other cryptos are going to be ok too, especially projects that expand decentralised finance and turn the banking system inside out. And with good reliable proven Fission energy tech, and protocol updates in the future, energy needed to keep Bitcoin going isn’t going to be that big of a deal. The “proof of concept” of money-on-a-blockchain, a.k.a. Bitcoin, is here to stay.
So go on Elon, put a billion or two into Thorium Molten Salt tech — today, whilst you still have spare token or three. (Sell your Doge, take the loss). You can also have a Thorium power station on the Moon’s Compton-Belkovich Thorium Anomaly pumping out ready to go sparky electrons for all that hydrogen when you are ready to launch to Mars. Indeed a Thorium powered electric car! Meanwhile back on mother Earth, energy prices will fall to 10% of what they are now — all inclusive costs, retail and wholesale; there would be no public funds propping up dodgy industries (trees anyone); environmental footprints for energy production and distribution would drop to 1% of present requirements; and of course the energy is carbon free.
By the way, we at The Thorium Network are not waiting. We are heavily promoting our strategy now using blockchain and our focus is Africa. As Cardano is doing. Can we get our business model wrapped around Bitcoin and use that protocol? We’d like to. Reach out if you have ideas. Remember that our Honey Badger(TM) is our proof of concept and she presently sits on the Ethereum blockchain.
Our consulting division, SAFE Fission Consult(TM) has been recognized as the best in the world offering fission energy to countries (and mega corporations, sic Tesla) in a unique way — fast, low cost and ultra safe. This recognition was by someone with one of the longest still-going careers in nuclear field, from running fleets of nuclear powered submarines to leading a country’s nuclear energy program. We feel comfortable about that.
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