On this last trip Bill started implementing our Bitcoin mining vision using an old diesel engine and used cooking oil. Cooking oil in Panajachel would normally be thrown out into the street/environment.
What Bill has accomplished at Bitcoin lake can’t be missed. He has started the virtuous cycle of recycling/reusing three items because an inherent economic incentive exists: Bitcoin.
Obviously a properly functioning engine like this could find its second or third life doing what normal diesel engines do. However, using a diesel engine to mine bitcoin provides an instant market for many of these engines that clutter property waiting for that new life.
We have plenty of electronics and smartphones that we dispose of and we are starting to see first generation S9 ASICs reach the end of their lives. With the global rise of energy costs and the upcoming Bitcoin halving in 2024, few, if any, S9s will be able to survive. In the Kaboom waste to energy proof of concept, we are re-using S9s. They will continue to have a second life for as long as they can function using free energy.
In this process we have demonstrated that “waste” can be turned into Bitcoin. Waste is matter, matter is energy, energy is Bitcoin — brilliant!