bitpetro
BitPetro

https://bitpetro.app

Public Key

npub1yfrsh937w8aqfc0nxr89tan0l9urc75ufpgmjq7nx2je7ge83y0qz6g2x6

NIP-05 Address

bitpetro@nostr.fort-btc.club

NIP-57 Address

lemonmonkey3@primal.net

Profile Code

nprofile1qqszy3ctjcl8r7syu8enpnj47ehlj7pu02wys5deq0fn9fvlyvncj8s24ulmg

Author Public Key

npub1yfrsh937w8aqfc0nxr89tan0l9urc75ufpgmjq7nx2je7ge83y0qz6g2x6

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Last Notes

2024-12-11 23:26:22

https://meetu.ps/e/NHBb5/TS8gK/i
You coming out tonight?

2024-11-14 18:10:51

Join us at #FortBitcoin #38 Texas Premier of @DirtyCoinDoc at @TCU Next Tuesday for the #Texas Premier of #DirtyCoin a #Bitcoin #Mining Documentary https://meetu.ps/e/NDHTR/TS8gK/i

2024-10-22 17:40:23

Any thoughts on how I could get more eyes on this?
#note1vfg…6x6g

2024-07-08 21:25:11

ISO #LatinX #Bitcoiners
join us for delicious Spanish #Tapas with a #BTC twist.
#BitcoinerEvents
#W7th #FortWorth
#Texas
👇RSVP:
https://meetu.ps/e/NhR0Z/TS8gK/i
https://m.primal.net/JGDL.jpg

2024-07-03 15:36:52

34th #FortBitcoin #MeetUp
Get #Bullish on #Bitcoin in #Cowtown
join us for delicious Spanish #Tapas with a #BTC twist.
#BitcoinerEvents
#W7th #FortWorth
#Texas
👇RSVP:
https://meetu.ps/e/NhR0Z/TS8gK/i
https://m.primal.net/JGDL.jpg

2024-07-02 21:57:29

Join us for our 34th #FortBitcoin #MeetUp
Dile Si a #Bitcoin  con Sitapas.com
Get #Bullish in #Cowtown
Si Tapas restaurant and bar aims to deliver delicious traditional Spanish #Tapas with a modern twist.
#BitcoinerEvents
#FortWorth #Texas
https://meetu.ps/e/NhR0Z/TS8gK/i

2024-05-10 19:20:17

Last month with the help of Brandon Chicotsky and the hospitality of the Texas Christian University - M.J. Neeley School of Business
We presented 3 panel discussions on the integration challenges and market dynamics of combining carbon credits with technologies like Bitcoin mining for methane emission reduction. The video of those 3 lecture is linked below.
#FortBitcoin and BitPetro and I would like to give a huge thank you to the speakers:
John Leitel, KONICA MINOLTA, INC.
Ondrej Sestak , ZeroSix
James C. Row, Capturiant
Dwayne Purvis, P.E.
#LeadOn #TCU
#carbonmarkets #Registries #OGI
#quantification #regulation #greenwashing
#bitcoinmining #carboncapitalism
https://youtu.be/23Zyi0mIoOs

2024-05-01 00:36:17

Join us on the 4th quarterly Bitcoin & Energy Lunch:
Powering Conservation with Bitcoin
at the Fort Worth Petroleum Club! Discover the transformative impact of Bitcoin adoption in the Oil and Gas industry and network with fellow professionals.
#PetroleumClub #LunchSeries #OilAndGasIndustry
Hosted by Fort Bitcoin and sponsored by BitPetro.
Hosted by @Fort_Bitcoin
Sponsored by @BitPetro
Keynote by: TBD
Moderated by
Jake Corley @JacobCorley
Panelists:
St. Claire Newbern III @LiveEnergyInc
Chris Alfano @360MiningInc
Dan Morrison @SludgeLLC
Jonathan Kohn @BitPetro
Dan Morrison @SludgeLLC
Happening at the @PetroleumClubFW in the @CityofFortWorth
Gain insight on Bitcoin and Lightning Network developments, and get a sneak peek into the future of Bitcoin in the Oil Patch and the path to adoption through innovation.
Agenda:
11:45 am Networking
12:00 pm Lunch
12:15 pm Panel Begins
1:30 pm Event Concludes
Panel Topics:
Powering Conservation with Bitcoin
Moderated by Jake Corley from Digital Wildcatters. The Panel will include current operators, bitcoin miners, and energy experts.
Want to pay for your registration using the Lightning Network? We've got you covered! Click the Link to Register and Pay with the Bitcoin Lightning Network: coming soon.
RSVP: https://www.meetup.com/fortbitcoin/events/300736319/
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2024-04-30 23:02:56

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Amen. See #FortBitcoin

2024-04-24 18:46:14

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Have to tease you for not coming then.
https://meetu.ps/e/N1ZX8/TS8gK/i

2024-04-24 01:27:56

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https://m.primal.net/HzJi.png https://m.primal.net/HzJj.png https://m.primal.net/HzJk.png https://m.primal.net/HzJl.png https://m.primal.net/HzJm.png https://m.primal.net/HzJn.png https://m.primal.net/HzJo.png

2024-04-24 01:26:33

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2024-04-24 01:25:12

Hashing or Plugging | Options for Orphanshttps://m.primal.net/HzJd.png This is a presentation I recently gave at an @AAPG Orphan, Abandoned, Idle, and Marginal Wells Conference.
I will be presenting these ideas along with other experts at Fort Bitcoin #32 New Energy Markets at TCU's Neeley School of Business.
The presentation is a vision where the remnants of our industry's past—the orphan and marginal wells—become the bedrock of its future.
This vision unites the fields of geology, environmental science, and the Bitcoin network, advocating for the repurposing of these wells for Bitcoin mining, a process increasingly recognized as a controllable load resource.
Across our landscapes, the orphan and marginal wells stand as silent witnesses to the boom-and-bust cycles of our industry. Abandoned and overlooked, these wells are not simply remnants of a bygone era but represent urgent environmental and economic challenges. Traditionally, the response has been to plug these wells—a necessary action that nonetheless incurs substantial financial, environmental, and societal costs.
Yet, within adversity lies profound opportunity. The Bitcoin network, with its finite supply of 21 million coins, emerges not only as a significant consumer of energy but as a beacon of revolutionary potential. This hard cap is a fundamental feature that offers an alternative model of money, starkly different from fiat currencies subject to inflation and state control.
We are faced with a compelling proposition: Can the untapped gas from these orphan and marginal wells fuel the future of finance, transforming a liability into a strategic asset of unparalleled value?
From Methane to Hashrate: A Oil field Perspective:
Methane, a byproduct of the ancient biomass now at the center of climate concerns, presents a unique opportunity. As geologists and engineers, your expertise positions you perfectly to capture and repurpose this potent greenhouse gas, thereby preventing its release into the atmosphere. Envision using this gas to power the computational demands of Bitcoin mining. This not only proposes a viable solution to mitigate a significant environmental hazard but also unlocks new economic avenues from wells once considered beyond salvage.
Our journey starts in the field, where your skills in assessing well integrity, gas composition, and potential volume become invaluable. These feasibility studies mark the point where tradition intersects with innovation—where the Industry's geological expertise meets cutting-edge technology to rejuvenate wells that were forgotten.
Shifting Narratives:
The discourse surrounding orphan and marginal wells has largely been dominated by their associated costs—monitoring, plugging, and their environmental footprint. The Bitcoin network introduces a paradigm shift: a narrative of revenue generation and economic rejuvenation. By converting wellhead gas into a power source for mining, we address the costs and emissions of these wells while introducing a scalable, flexible economic model. This adaptability is reminiscent of the cyclical investment dynamics characteristic of oil and gas operations.
However, the inherent volatility of the Bitcoin market cannot be overlooked. Our approach is underpinned by comprehensive economic analysis and risk management strategies, designed to navigate the unpredictable terrains of both energy and Bitcoin markets. This presentation aims to demystify the economic opportunity, presenting a clear vision of potential revenue in harmony with environmental stewardship.
Navigating Challenges:
The transition from theory to practice is lined with hurdles—technical, regulatory, and environmental. As energy experts and problem-solvers, we guide Bitcoin miners and energy companies through these challenges. We focus on establishing mining operations that not only serve as controllable load resources but also comply with environmental regulations, making positive contributions to our communities.
The regulatory environment demands our keen attention. Organizations like the @TexasBlockchainCouncil and the @OhioBlockchainCouncil, under the leadership of @LeeBratcher and @AndrewBurchwell champion policies that acknowledge Bitcoin mining as a sustainable solution for orphan and marginal wells. Legislation such as Texas House Bill 591 emerges as a beacon of hope, facilitating a compromise between industrial advancement and environmental responsibility by incentivizing responsible gas consumption through a Tax incentive in the form of a 7.5% Severance Tax exemption.
Incorporating Real-World Insights:
The journey of off-grid Bitcoin mining, leveraging stranded and flared gas, underscores the innovation at our fingertips. Pioneers like @UpstreamData, @GigaEnergy, and notable industry giants have demonstrated the viability of converting environmental liabilities into profitable ventures. These case studies exemplify the potential for a symbiotic relationship between the quickly evolving #Bitcoin industry and the Legacy Energy Industry.
Utilizing stranded and flared gas not only addresses environmental concerns but also unveils new economic opportunities. By converting this gas into electricity on-site for field operations, companies can mine Bitcoin, creating a revenue stream while simultaneously reducing greenhouse gas emissions. This innovative approach underscores the potential of Bitcoin mining as a controllable load resource, offering a sustainable solution to the challenges posed by orphan and marginal wells.
The Economics of Stranded Gas:
The economic implications of harnessing end-of-life well gas for Bitcoin mining are significant. With a substantial portion of natural gas reserves considered stranded, the potential for revenue generation is immense. In regions like the Bakken Shale formation, where high flaring rates prevail, Bitcoin mining has proven to be a viable alternative to wasting this precious resource. This initiative not only enhances economic returns but also contributes to global emissions reduction, fostering proactive energy production and consumption patterns.
Despite debates over energy consumption, Bitcoin's proof-of-work mechanism is evolving towards greater efficiency. While miners continue to seek out the lowest cost of power. Driving the industry to become the largest consumer of often stranded and intermittent renewable power. This shift towards prioritizing operational expenses signals a new economic model for mining, affirming the network's potential as a controllable load resource.
By incentivizing the use of otherwise abandoned or stranded gas and responsibly leveraging it as an abundant energy resource, Bitcoin mining not only seeks to improve its economic returns but also contributes to global emissions reduction by promoting proactive energy production and consumption patterns.
I invite you to join this journey, exploring the potential of the Bitcoin network as part of a broader strategy for managing orphan and marginal wells, driving innovation, and fostering sustainable industry growth. Together, we can redefine our legacy, ensuring a future where environmental care and economic prosperity are intricately linked.

2024-04-17 14:31:31

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2024-04-16 04:58:44

Fort Bitcoin #32 New Energy Markets @ #TCU Neeley School of Business
https://meetu.ps/e/N1ZX8/TS8gK/i

2023-12-04 14:40:14

https://void.cat/d/MGSbACyBZ55a7RY59P7NY5.webp
#Oil #NatGas #Bitcoin #Gold #SP500 1 Month Chart

2023-12-02 22:53:46

https://www.flockstr.com/event/naddr1qqyr2ctp8ycrwdesqy28wumn8ghj7un9d3shjtnyv9kh2uewd9hsygpzgu9ev0n3lgzwruesee2lvmle0q7848zg2xus85ej5k0jxfufrcpsgqqq0jesr9r6eq

2023-12-02 22:39:37

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https://flockstr.s3.amazonaws.com/event/WRCGifD02f0WOZMQOkkuI

2023-12-02 22:38:48

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https://flockstr.s3.amazonaws.com/event/Q3CEdbKk56Rd_6IKlMRA3

2023-12-01 14:42:43

Howdy, nostr!
We're gearing up for the grand finale of 2023, and you're invited to the 27th Fort Bitcoin meetup on December 5th at 6 pm.
Join us at The Archibald, where we'll dive deep into the world of #Bitcoin. Whether you're a seasoned Bitcoin enthusiast or just getting started, there's something for everyone.
And let's talk about the venue – The Archibald is the place to be! Great drinks, fantastic pizza, and a staff that's as friendly as can be. Plus, you can valet at the hotel right next door for your convenience.
The entire bar has been designed with a rooftop view in mind, so you'll find it cool and classy, just like our #FortBitcoin community.
Mark your calendars, folks! December 5th is the date, and we can't wait to celebrate the year's end with you. See you there for an evening of Bitcoin knowledge, delicious food, and good company.
Y'all know where to find us – The Archibald, December 5th, 6 pm. Let's make this last meetup of 2023 one to remember!
#YearEndMeetup #BitcoinEducation #FortWorth
#BitcoinerEvents
RSVP: https://www.meetup.com/fortbitcoin/events/297694026/

2023-11-30 14:51:10

https://void.cat/d/DKZyFEdujCk3FpsLGU1THL.webp
#Oil #NatGas #Bitcoin #Gold #SP500 3 Month Market View

2023-11-15 14:43:43

https://void.cat/d/ALjrDb8JJFBWNt3NUe2w8u.webp
#Oil #NatGas #Bitcoin #Gold #SP500 1 Month Chart

2023-11-15 14:40:23

https://void.cat/d/JSEpfbjWbyjmk5uapdvvUW.webp
Two more days until our Fort Worth Petroleum Club | 2nd Bitcoin and Energy Lunch
RSVP: https://www.meetup.com/fortbitcoin/events/295760641/

2023-11-06 13:57:10

What Happened to #Venezuela? The Descent into Monetary Abyss of Hyperinflation
In Venezuela's economic history, the ascent of Hugo #Chávez in 1998 marked the beginning of a radical departure from market principles, setting the stage for a harrowing journey into hyperinflation and economic disarray. Chávez's rise, buoyed by the promise of sweeping social reforms and a redistribution of wealth, initially resonated with a population eager for change.
The country's descent was not precipitated by a singular event but was the culmination of years of economic missteps. The seeds of decline were sown during Chávez's administration and germinated through Nicolás Maduro's tenure. The deterioration of Venezuela’s production, particularly within its oil sector, was a slow-motion unraveling that accelerated under Chávez's policies and continued to gain pace under Nicolás #Maduro.
The 2002-2003 strike at Petróleos de Venezuela (#PDVSA) was the first spark in what would be a blaze of economic devastation, a stark manifestation of the tensions between the state and the market. The strike's suppression and the subsequent purge of expertise from the oil industry were early signs of the systemic rot and cronyism that would come to characterize the nation's economic framework.
As the narrative of the last decade unfolded, the dramatic plunge in global oil prices in 2014 exposed the vulnerabilities of an economy hinged on a single commodity. Venezuela's overreliance on oil revenue, akin to a gambler's single-minded bet, proved catastrophic as the fiscal foundations crumbled under the weight of declining prices. The ensuing chaos was compounded by a chronic neglect of investment and a pervasive mismanagement endemic to the oil sector. The infrastructure, once the backbone of the economy, fell into disrepair and neglect, and U.S. sanctions further isolated the nation, tightening the economic stranglehold.
By 2020, Venezuela's oil production had dwindled to its lowest levels in decades, a mere shadow of its former glory. The stark contrast from the golden days of the late 1990s, when production exceeded 3 million barrels per day, to the grim reality of less than 400,000 barrels, painted a grim portrait of a nation in freefall. Today the world’s largest reserves appear to be stranded behind a wall of #collapse.
The Chávez era's grand #nationalization scheme, financed by the oil bounty, was a testament to the perils of state interventionism. When the oil price fortress fell, the economy was left defenseless, teetering on the brink of collapse. The government's response, a frenzied printing of money, was the quintessential fiat solution, leading inevitably to #hyperinflation.
The post-Chávez landscape, stewarded by Maduro, has been one of exacerbated turmoil. The hyperinflationary spiral has led to dire shortages, the collapse of public services, and a #humanitariancrisis that has propelled a mass #exodus of Venezuelans seeking refuge from the economic maelstrom. About 1/3 of the population fled, more than 7 million people in a country of 30 million, making it the largest humanitarian tragedy in the Western Hemisphere
Venezuela's descent from prosperity to destitution is a stark illustration of the inherent instability of a fiat-based economy. It stands as a testament to the destructive potential of unchecked monetary expansion and the tragic human cost of a nation's deviation from sound economic principles. The Venezuelan saga is a cautionary tale, echoing the warnings of "The Fiat Standard" by @npub1gdu…6nak about the perils of straying from the discipline of a commodity-backed monetary system.

2023-11-06 13:04:29

https://void.cat/d/G7kxFsXV8miTyHbpCNCRZ5.webp
#Oil #NatGas #Bitcoin #Gold #SP500 6 Moth Chart

2023-11-03 14:00:13

We are running a Friday #LN Flash Sale for our #Bitcoin and #Energy Lunch in two weeks:
https://9dde27ea76.d.voltageapp.io/events/fGRDZEd8goGNu4q5ndrV5v
Fort Worth Petroleum Club | 2nd Bitcoin and Energy Lunch
Join us on November 17 for the
2nd #FortWorth #Petroleum Club | #Bitcoin and #Energy Lunch!
Discover the transformative impact of Bitcoin adoption in the Oil and Gas industry and network with fellow professionals. Hosted by #FortBitcoin.
⚡️First 50 tickets go for 21,000 #sats
https://void.cat/d/An2ZmnDKZ6hjLRkGPypVuw.webp

2023-11-02 21:22:54

What is Credit?
#Credit is a broad term with a range of meanings, from the financial #trustworthiness of an individual or entity to the arrangement for deferred payment in transactions. It's a foundational concept in modern economies, influencing everything from individual purchasing decisions to the global flow of money.
The Basics of Credit
At its core, credit is about #trust in #deferred #payment. When lenders extend credit, they trust that borrowers will repay the money within the agreed timeframe, typically with interest. This system allows for the smooth flow of money and resources in an economy, facilitating purchases, investments, and financial stability.
Credit can take many forms, including loans, mortgages, credit cards, and lines of credit. These credit forms come with varying terms, interest rates, and borrowing limits, catering to a wide range of financial needs and situations.
Creditworthiness and Credit Scores
An essential aspect of credit is #creditworthiness, or how trustworthy someone is in repaying borrowed money. Lenders determine this using #creditscores, a numerical representation of a person's borrowing history. Factors influencing credit scores include repayment history, total debt, credit history length, and the types of credit used.
A high credit score indicates good financial habits and results in better loan terms, while a low score can make borrowing more expensive or even unattainable. Thus, maintaining a good credit score is crucial for #financialhealth.
The Role of Credit in Economies
Credit is a critical #driver of #economicactivity. By allowing consumers to make purchases they couldn't otherwise afford, credit stimulates demand, driving business growth. On a larger scale, credit fuels business investment, job creation, and economic expansion.
However, credit also has a darker side. Excessive borrowing can lead to "credit bubbles" that eventually burst, causing economic crises. The 2008 #financialcrisis, largely triggered by a collapse in overextended mortgage credit, is a stark example of such dangers.
Credit from an Austrian Economics Perspective
#Austrianeconomics, known for its skepticism of central banking and advocacy for sound money, has a nuanced view of credit. While recognizing credit's role in facilitating economic activity, Austrian economists warn against excessive credit expansion, often fueled by artificially low interest rates set by central banks.
They argue that such expansion leads to #unsustainable economic #booms, followed by devastating #busts. Instead, they advocate for credit based on real savings and investment, believing that this approach leads to more sustainable economic growth and stability.
Credit in the Context of #Bitcoin
The typical Maxi(Bitcoin Maximalist) positions Bitcoin as an alternative to traditional credit-based monetary systems. Unlike fiat currencies, which can be inflated by central banks, Bitcoin has a fixed supply, making it immune to such manipulation.
This feature makes Bitcoin more akin to a #commodity than a currency, according to the book. It argues that Bitcoin could serve as a basis for a new #creditsystem, where credit is based on a sound, #deflationary money supply, rather than the inflationary fiat system. Such a system could potentially offer greater economic stability and fairness, reducing the boom-and-bust cycles characteristic of modern economies.
Conclusion
Credit is a #doubleedged #sword, capable of both stimulating economic growth and causing financial crises. Its complexities and contradictions make it a vital topic of study for anyone interested in finance, economics, or the #futureofmoney. As new forms of money like Bitcoin emerge, understanding the nuances of credit becomes even more critical.

2023-11-02 21:15:04

https://void.cat/d/89v8SQgSL5s8qsvyStnfz6.webp
#Oil #NatGas #Bitcoin #Gold #SP500 5 Day Chart
#SoundMoney trades 24/7

2023-10-31 14:17:27

What is Debt?
#Debt is a #concept as old as human civilization, deeply ingrained in economic systems, societal structures, and even moral frameworks. At its core, debt involves #borrowing, typically #money, from one #party to another, under the agreement that the borrowed amount will be repaid, usually with interest, at a #futuredate.
#History’s Perspectives on Debt
Debt has played various roles throughout history. In ancient times, debt often arose out of necessity, such as the need to secure food or resources during times of scarcity. It was also used in trade and commerce, facilitating transactions in the absence of money or complex financial systems.
However, debt wasn't purely an economic instrument. It had social and moral implications. In many cultures, being unable to repay debt could lead to severe consequences, including enslavement or imprisonment. This intertwining of debt with moral obligation has influenced societal attitudes towards debt, wealth, and poverty.
#ModernDebt: Instruments and Purposes
Today, debt comes in many forms, including mortgages, student loans, credit cards, bonds, and national debts. These instruments have specific purposes and structures, catering to various needs in modern economies:
1. #Personal Debt: Individuals take on debt for various reasons, such as buying a home, obtaining an education, or financing daily purchases. This debt is often necessary for individuals to advance in life, but if mismanaged, it can lead to financial strain or bankruptcy.
2. #Corporate Debt: Businesses use debt as a tool for growth. By borrowing money, companies can invest in new projects, expand operations, or navigate financial difficulties. Corporate debt is typically categorized into bonds, loans, and credit lines, each with its own risk and cost profile.
3. #Government Debt: Governments borrow to fund public projects, social programs, or military expenditures, and to manage economic cycles. Government debt is issued in the form of bonds. While such debt can stimulate economic growth, excessive government borrowing and spending can lead to inflation and economic instability.
The #DoubleEdged #DebtSword
Debt is a double-edged sword. It can be a powerful economic tool, driving growth, facilitating trade, and smoothing out economic inequalities. However, excessive debt can lead to financial crises, as seen in the 2008 global financial crisis when high levels of mortgage debt led to widespread defaults, bank failures, and economic recession. Likewise, many young people endure unnecessary hardships due to poor management of their own det in the form of credit cards. From macro to micro debt can do a lot of harm if not well understood.
Debt from the #AustrianEconomics Perspective
Austrian economics is critical of excessive debt and the role of central banking in facilitating debt growth. This school of thought argues that artificially low interest rates set by central banks encourage excessive borrowing and risk-taking, leading to economic bubbles. When these bubbles burst, the result is economic crises and recessions.
Austrians advocate for a more conservative approach to debt, emphasizing savings and investment funded by real economic production, rather than credit expansion. They also support sound money, like the gold standard or Bitcoin, as a foundation for a stable economic system.
Debt in the #Context of #Bitcoin
Bitcoin advocates view it as an alternative to the debt-laden fiat monetary system. Bitcoin's capped supply based on open source code contrasts with fiat currencies, which can be printed in unlimited quantities to fund government spending and debt. By providing a currency that doesn't rely on debt for its creation and value, Bitcoin offers a counter-model to the current global financial system, one more aligned with being a money by and for the internet, that is without borders and free from censorship.
Conclusion
Understanding debt is crucial for navigating the modern world. Today’s economic landscape is one where debt can be a valuable tool for individuals, businesses, and nations, it also carries risks and consequences, especially when used irresponsibly. The discussions around debt, money, and alternative financial systems like Bitcoin are central to understanding the broader economic, social, and moral implications of debt in society.

2023-10-30 13:52:08

How Money is Created
#Money creation is a complex process that involves several entities, including central banks, commercial banks, and the public. The modern banking system operates on the principle of fractional-reserve banking, where banks are required to keep only a fraction of their deposits on hand, lending out the remainder. This system is instrumental in money creation, influencing economies worldwide.
The Role of Central Banks
#Centralbanks, like the Federal Reserve in the U.S., play a crucial role in money creation. They control monetary policy and can influence the amount of money in circulation. One method they use is open market operations, where they buy or sell government securities. For example, when a central bank buys securities, it pays with bank reserves, effectively creating money that the sellers deposit in their bank accounts, increasing the overall money supply.
Central banks also set reserve requirements, dictating the proportion of deposits that commercial banks must hold in reserve, either in their vaults or with the central bank. Lower reserve requirements allow banks to loan out more money, increasing the money supply, and vice versa.
Another tool is the interest rate at which banks borrow money from the central bank. Lower interest rates encourage banks to borrow and lend more, which increases the money supply. Conversely, higher rates slow down borrowing and reduce the money supply.
Fractional-Reserve Banking
Commercial banks also contribute to money creation through fractional-reserve banking. When a bank receives a deposit, it's required to keep a fraction of it on hand, lending out the rest. The lent money eventually gets deposited back into the banking system, and a portion is lent out again, creating a multiplier effect.
For example, if the reserve requirement is 10%, a $100 deposit can theoretically create up to $1,000 in new money ($100 initial deposit + $90 new loan + $81 second-generation loan, and so on). This process is inherently inflationary, as it increases the money supply.
However, this system also poses risks, as banks may not have enough reserves to cover unexpected large withdrawals, potentially leading to bank runs.
#DigitalMoney and Credit Creation
In today's digital economy, most money exists not as cash, but as digital entries in bank accounts. When banks issue loans, they create money by adding the loan amount to the borrower's account. This money, created out of thin air, is backed not by physical reserves, but by the bank's belief in the borrower's ability to repay the loan with interest.
This system means that most of the money in circulation today was created through debt. This relationship between money and debt is fundamental to understanding modern banking and its implications on global economies and individual lives.
Austrian Economics View on Money Creation
#AustrianEconomics criticizes fractional-reserve banking and the central banking system, arguing that they lead to artificial #credit expansion, #unsustainable economic booms, and devastating busts. This school of thought advocates for a return to #soundmoney, like the gold standard, and banking practices that restrict credit creation to actual savings, thereby preventing the boom-bust cycle.
Bitcoin's Proposition
The Bitcoin Maxi's argue that Bitcoin, like gold, can act as sound money. Its supply isn't controlled by any central authority, and its issuance is predetermined and transparent, mimicking gold's natural mining constraints. Bitcoin, therefore, offers an alternative to the current credit-based system, potentially mitigating the economic cycles that characterize modern economies.
Conclusion
Understanding money creation is crucial in grasping the web that is the global economies, the nature of booms and busts, and the value proposition of alternatives like Bitcoin. The process is not just a financial mechanism but a societal tool with direct implications on wealth distribution, societal structure, and individual life.

2023-10-30 13:43:31

https://void.cat/d/UyhMK9v7BE8RbkVaYzA7Uw.webp
#Oil #NatGas #Bitcoin #Gold #SP500 1 Month Chart

2023-10-26 22:53:05

https://void.cat/d/VULyFD5dQz9UrPjbbZuUoo.webp
#CL #NatGas #Bitcoin #Gold #SP500 12Mo Chart

2023-10-26 22:00:52

What is the Gold Standard?
The #goldstandard is a #monetarysystem where a country's currency or paper money has a value directly linked to gold. With the gold standard, individuals could exchange their paper money for a specified amount of gold. Countries that use the gold standard set a fixed price for gold, allowing for the free exchange of gold for money.
Historical Context
The #gold standard has deep historical roots. For centuries, gold's intrinsic qualities—such as its durability, rarity, and universal appeal—made it a reliable #mediumofexchange and a #storeofvalue. As early as the Byzantine Empire, gold was a standard for international transactions, with the solidus coin dominating trade.
In the 19th century, the gold standard became more formalized. The United Kingdom, one of the world's major economic powers, adopted the gold standard in 1821, with the United States following suit in 1873. This period, known as the classical gold standard, lasted until World War I and was marked by global economic stability, albeit punctuated by regular financial panics and crises.
How the Gold Standard Worked
Under the gold standard, countries agreed to convert paper money into a fixed amount of gold. A government had to hold significant gold reserves to meet conversion demands. This system aimed to stabilize currency values and international exchange rates, facilitate trade, and prevent governments from printing excessive money.
However, the gold standard had its limitations. It could create deflationary pressures: as economies grew, the money supply could not always grow correspondingly because of the finite amount of gold. This limitation often led to deflation, where prices dropped as money became more valuable.
The Gold Standard's Demise
The gold standard began to unravel during World War I, as countries printed more money to fund their war efforts, leading to inflation. Post-war, countries attempted to return to the gold standard, but the economic toll of the war and the Great Depression complicated these efforts.
The final vestiges of the gold standard system were abandoned in 1971 when President Nixon ended the U.S. dollar's convertibility into gold, marking the transition to fiat monetary systems.
The Gold Standard and Austrian #Economics
#Austrianeconomics, a school of economic thought that emphasizes the spontaneous organizing power of the price mechanism, is generally supportive of the gold standard. This perspective argues that the gold standard limits the government's ability to inflate the money supply, thereby preventing the distortionary effects of inflation on the price system.
Friedrich Hayek, a prominent Austrian economist, criticized central banking's discretionary policies and advocated for competition in currencies. He believed that such competition could potentially reintroduce a form of the gold standard, as markets might favor currencies backed by gold or other valuable assets.
The Gold Standard and Bitcoin
#TheBitcoinStandard posits Bitcoin as a digital counterpart to the gold standard. Like gold, Bitcoin has a finite supply, with only 21 million Bitcoins to ever be mined. This characteristic aims to make Bitcoin immune to the inflationary pressures that fiat currencies are subject to.
The book argues that just as the gold standard provided an economic basis for prosperity and stability before the world wars, Bitcoin could be the basis for a new era of economic stability and fairness in the digital age. It highlights how Bitcoin shares key characteristics with gold that make it suitable as a monetary standard—scarcity, divisibility, portability, verifiability, and recognizability.
Conclusion
The gold standard has had a profound impact on economic policies, theories, and the global financial system. Its principles continue to influence contemporary economic thought, particularly in discussions around #Bitcoin and stable coins. Understanding the gold standard is crucial for anyone delving into the complexities of monetary policy, the history of international finance, and the emerging digital economy.

2023-10-26 21:53:15

https://void.cat/d/2sgUkZuziR6J2BMZTDnNTv.webp
#CL #NatGas #Bitcoin #Gold #SP500 6Mo Chart

2023-10-25 14:41:43

The Prequel to Why Bitcoin?
Prologue
In the dynamic confluence of technology, finance, and energy, understanding the nuances of money—its history, mechanisms, and potential for future transformation—is not just a scholarly pursuit but a strategic imperative. As we stand at an inflection point, with digital currencies like Bitcoin poised to disrupt our traditional financial paradigms, delving into the historical milestones, such as the pivotal year of 1971, the principles behind the gold standard, and the intricate mechanisms of money creation, debt, and credit, is critical. This exploration is not just about understanding these concepts in isolation but about envisioning how they could intersect with cutting-edge technology to redefine our world. This guide is an expedition into these complex territories, drawing insights from the past and present to navigate the uncharted future.
Summary
Our expedition into the financial realms underscores the intricate dance of economic forces and human ambition. The year 1971 was more than a historical marker; it was the genesis of a new monetary era that set the stage for today's economic theatrics. The gold standard, now a relic of the past, continues to hold lessons for the future, especially in discussions around financial stability and autonomy.
Money creation, a privilege of the banking elite, is a process shrouded in complexity and controversy, a magic trick with profound implications. Meanwhile, debt and credit are the lifeblood of our economy, sustaining growth yet also planting seeds for potential turmoil. These forces, seemingly mundane, hold the power to ignite economic booms or trigger devastating busts.
From the lens of Austrian economics, our current financial architecture is a precarious one, teetering on the brink, sustained by policies that inflate bubbles destined to burst. Herein lies the argument for a return to sound money principles, a sentiment echoing through the chambers of gold standard advocates and cryptocurrency enthusiasts alike.
Bitcoin emerges as a beacon in this discourse, a digital defiance against traditional monetary systems. Its immutable supply and decentralized nature present a stark contrast to fiat currencies, offering a glimpse into a future where money is not just a tool for transaction but an instrument of true economic empowerment.
As we venture further into this digital era, the lessons from our monetary past are not mere echoes but guiding voices as we forge our path. Whether we're transitioning into a world where cryptocurrencies reign supreme or one where they exist alongside fiat currencies in a complex financial tapestry, our understanding of these historical and economic nuances will be the compass that guides our journey.
1. What happened in 1971?
In 1971, a critical event known as the "Nixon Shock" occurred. U.S. President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, effectively ending the Bretton Woods system. This system was a global agreement where most countries pegged their currencies to the U.S. dollar, which was convertible to gold.
Why did this happen? The U.S. was facing high inflation and economic challenges, partly due to the costs of the Vietnam War. By ending the gold standard, the government hoped to stabilize the economy. However, this decision had global repercussions. It led to the modern system of floating exchange rates, where the value of a currency is determined by the forex market.
The end of the gold standard meant that governments could print more money without needing a gold reserve to back it. While this increased financial flexibility, it also introduced risks like higher inflation and economic instability. This event is a pivotal point in understanding Bitcoin, which seeks to offer an alternative to traditional fiat currencies by limiting its supply, akin to gold.
2. What is the gold standard?
The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the gold standard, individuals could exchange their paper money for a specified amount of gold. Countries that use the gold standard set a fixed price for gold, allowing for the free exchange of gold for money.
The gold standard is significant because it provides a fixed asset to back a currency, ensuring governments don't print excessive amounts of money. However, it can also lead to economic problems. If a country doesn't have enough gold, it might not have enough money to support its economic needs. The gold standard can also tie the hands of policymakers, limiting their ability to respond to economic crises.
3. How is money created?
In modern economies, money is created through a process called fractional-reserve banking. Here's how it works: you deposit your money in a bank. The bank then loans out most of this money to others. When those loans are deposited into other banks, a portion is loaned out again. Through this process, the banking system creates more money than the original amount deposited.
Central banks also create money by buying assets like government bonds. This process is called quantitative easing (QE). They do this to influence economic activity, like encouraging spending and investment when the economy is slow.
4. What is debt?
Debt is money borrowed by one party from another. Many entities use debt as a method of making large purchases they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.
Debt can be used effectively to improve one's financial position or business operations. However, if not managed carefully, debt can lead to financial ruin and severe economic consequences on a larger scale.
5. What is credit?
Credit is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date, generally with interest. Credit also refers to the creditworthiness or credit history of an individual or company..
For individuals and companies, credit is vital for significant purchases and investments. It's a fundamental component of a modern economy, allowing for transactions, investments, and risk-taking that drive economic growth.
6. What happened in Venezuela?
The story of the wealthiest country in a continent, destroyed by Fiat gone to the extreme end of a socio economic system.
This series will explore the topics above like a study guide accessible to those with a curious mind.

2023-09-07 15:25:00

Been a while how are you #Nostr

2023-05-31 21:01:37

@npub1l2v…ajft
https://snort.social/e/nevent1qqsrn20vglw8q0aaa2vknm72l388l04as09uddlxkxgtx3y7qvlaajqpz3mhxue69uhkummnw3ezummcw3ezuer9wcpzq0mhp4ja8fmy48zuk5p6uy37vtk8tx9dqdwcxm32sy8nsaa8gkeyqvzqqqqqqy4tvytm

2023-04-18 14:51:34

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See you all tonight! #FortBitcoin
#[0]

2023-04-15 15:52:49

Good morning everyone. We are having a #NorthTexas #Bitcoin #MiningSummit next week at #TCU and would love to have y’all join us.
https://www.eventbrite.com/e/north-texas-mining-summit-tickets-615267109487
"North Texas Mining Summit" on Eventbrite!
Date: Wed, Apr 19 • 8:30 AM CDT
Location: Neeley School of Business
https://i.imgur.com/rgw1rRb.jpg

2023-04-15 00:29:35

The #FortBitcoin meetup is the perfect place to connect with other Bitcoin enthusiasts while enjoying some #Texas-style hospitality. Bring your appetite for tacos and Bitcoin knowledge! #FortWorth
#bitcoinerevents
Checkout the 19th Fort Bitcoin:
Checkout this Meetup with Fort Bitcoin: https://meetu.ps/e/M1CVF/TS8gK/i

2023-04-15 00:28:07

Join us at Lot 12 Rooftop Bar for the #FortWorth Bitcoin meetup on the 19th after the @TCU event. We'll be discussing the latest trends, networking with fellow Bitcoiners, and enjoying drinks. See you there! #FortBitcoin #TCUevent #BitcoinNetworking
#BitcoinerEvents
https://www.eventbrite.com/e/north-texas-mining-summit-tickets-615267109487?aff=eand

2023-04-15 00:25:32

#LastLook at #Energy
$WTI is flat +0.44 0.5% $82.60/bbl
$Brent is flat +0.10 0.1% $86.19/bbl
$NatGas is up +0.11 5.5% $2.12/MMBtu
$BTC $30,301.16 +19.9 0.1%
https://i.imgur.com/crTNGSH.jpg

2023-04-05 19:36:33

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His podcast with Dan Carlin was 🔥

2023-04-05 19:35:33

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🤠 Howdy

2023-03-27 18:05:20

#Bitcoin
https://nostr.build/i/nostr.build_42f8a859c48b6a629050204d13adf05c47d4fc2e6b491adc6b31d3d33825aead.png

2023-03-25 03:36:34

Base Layer
https://nostr.build/i/nostr.build_bf5babd29c655f50b8836c66d6f0acf74e002b5b180d9ceaa2adbd82065facee.jpg

2023-03-24 19:39:46

#Bitcoin in the lead in 2023
https://nostr.build/i/nostr.build_337c1d5c1fee0d0873a6c44a726bcb1cec40819cf12328fd2abe9b534ea64955.png

2023-03-24 19:34:21

#WTI is down $1.68 to $68.28/bbl
#Brent is down $1.79 to $74.12/bbl
#NatGas is up 5.1c to $2.205/MMBtu
#Oil prices are heading for a #weeklygain, but they fell earlier today due to concerns about the banking sector and the Fed's interest rate hike.
The U.S. is unlikely to refill the Strategic Petroleum Reserve (#SPR) in 2023 despite low prices, as it would be difficult to do so at the administration's stated price range of $70/Bbl. Maintenance at two SPR sites and an ongoing crude sale mandated by Congress also pose challenges.
#NatGas prices are trading higher today but are headed for a third consecutive #weeklyloss. Cooler weather forecasts and rising gas #flows to #Freeport #LNG and declining flows to Calcasieu pass are some of the factors #affecting natural gas prices.
#Demand for #NatGas in #Europe is recovering as prices fall, mainly in the refining and petrochemical sectors. This could potentially #draw down gas #storage and require #larger #imports of #LNG.
#California's #hydro generation outlook is much better than in 2022, as #recordrain and snowfall have boosted reservoir and snowpack levels. This should lead to significantly #increased #power generation from the #hydroelectric sector and #reduced #natgas usage this summer in California's power sector.
https://nostr.build/i/nostr.build_2f65d122f628f461d3d2ab02dd67c40e568a657f750e04337385a86fff421ffc.png

2023-03-23 03:31:10

https://www.youtube.com/watch?v=_RDiAdeFPcE
New Age of Rocketry 85% 3D Printed

2023-03-18 03:36:42

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#[5]
Will do better than me for sure!
Almost missed this, driving down to #SanAntonio

2023-03-17 14:04:43

Happy St. Patty's #nostrica here is a summary of the #OilandGas #marketupdate for this week:
#WTI lost 10 cents to trade around $68/bbl but is down 10% for the week due to banking turmoil.
#Crude prices reached their lowest levels in over a year, with Prompt WTI and Brent hitting their respective lows of $65.65/bbl and $71.67/bbl before recovering some of their losses.
The market is expecting an #OPEC+ response following a meeting between #SaudiArabia and #Russian officials to "promote market balance and stability."
The #US won't rush to fill the petroleum reserve, according to Amos Hochstein, the Special Presidential Coordinator for Global Infrastructure and Energy Security.
The #SPR is currently at 371.6 MMBbl, the #lowest level since the 1980s, as a result of the 180 MMBbl release last year to tame gasoline prices.
The #G7 intends to maintain its $60/bbl #pricecap on #Russian oil #exports despite requests from several European states to lower the cap.
#Natgas prices are #down 4% due to warmer #weather forecasts.
#Repsol #canceled its plans for a Canadian #LNG project due to the cost of shipping gas to Canada's east coast being too high for the project to be economical.
The #California #PublicUtilitiesCommission is investigating the cause of high winter natural gas prices and is looking for ways to #mitigate #volatility.
https://nostr.build/i/nostr.build_0f1fd1a1b27fcfffc1ac88708e33fc049e20fe0459b7531b3b7b79b6a6793acf.png

2023-03-13 02:48:43

Attention Energy Industry Professionals! Join us on March 14 for the first event in our quarterly Bitcoin lunch series at the Petroleum Club of Fort Worth. Learn about the transformative impact of Bitcoin adoption in the Oil and Gas industry. Register now! #Bitcoin #OilAndGas #EnergyIndustry
RSVP:
https://www.meetup.com/fortbitcoin/events/291942225/
Keynote by Cam Stromme, Unchained Capital
Our Panel will be moderated by Jake Corley 🏴‍☠️ Corley, Digital Wildcatters and includes:
John Bick, Chairman, Chief Commercial Officer, Priority Power
Justin Ballard, Martin Legal Group PLLC
Joel Fulford, 10NetZero, Inc.
Daniel Morrison, Amalgamated Sludge
Jonathan Kohn, BitPetro
Topics:
Future of Bitcoin in the Energy Industry: What does the future hold for Bitcoin adoption in the Oil and Gas industry, and what role will it play in shaping the future of the Energy industry?
Bitcoin's Role in Energy Independence: How can Bitcoin help the Oil and Gas industry achieve energy independence and reduce reliance on foreign oil?
Bitcoin Mining and Energy Efficiency: How can Bitcoin mining be leveraged to improve energy efficiency and reduce carbon emissions in the Oil and Gas industry?
Regulatory Landscape: What is the current regulatory landscape for Bitcoin adoption in the Oil and Gas industry, and how can it be navigated to achieve widespread adoption?
Lightning Network (LN) and Energy: How can the Energy industry leverage Layer 2 protocols to optimize energy trading, billing, and settlement?
Digital Asset Custody and Security: What are the best practices for self-custody of digital assets in the Oil and Gas industry, and how can they be implemented to maximize security?
Don't miss the first event of our quarterly Bitcoin lunch series on March 14 at the Fort Worth Petroleum Club. Our panel of experts will explore the transformative impact of Bitcoin on the Oil and Gas industry. Register now and be a part of the conversation!
Want to pay for your registration using the Lightning Network? We've got you covered! Click the Link to Register and Pay with the Bitcoin Lightning Network:
https://9dde27ea76.d.voltageapp.io/events/8pQKTfLrK253ZL2FvCDHJ3
Sponsored by Unchained Capital and Texas Blockchain Council
#FortWorth #Texas
https://nostr.build/i/nostr.build_1024d3df283bde24601fc38107a69b2dafde2dd7c7ca905a947e00b86f86daa7.png

2023-03-10 21:56:02

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Moderated by @JacobCorley from @DWildcatters
Our Panel includes:
@johnjbick
@JLB_Oso
@BitPetro
@SludgeLLC
Panel Topics:
Mining and Energy Efficiency
Regulatory Landscape
Lightning Network and Energy
Digital Transformation and Cybersecurity
Bitcoin's Role in Energy Independence

2023-03-10 21:55:50

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Keynote by @21Bullish : Bitcoin Basics for the Energy Industry, followed by a panel of experts discussing the opportunities and challenges of integrating Bitcoin into the Energy Stack
https://www.meetup.com/fortbitcoin/events/291942225/

2023-03-10 21:55:39

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Come learn from an expert panel about the intersection of Bitcoin and Energy from those on the front lines of innovation.
https://www.meetup.com/fortbitcoin/events/291942225/
Agenda:
11:45 am Networking
12:00 pm Lunch
12:15 pm Panel Begins
1:30 pm Event Concludes

2023-03-10 21:54:44

Join us Next Tuesday for the Bitcoin Lunch Series at the Fort Worth Petroleum Club! Discover the transformative impact of #Bitcoin adoption in the #OilandGasindustry
Sponsored by
@unchainedcap and @TXblockchain_
Hosted by
@fort_bitcoin
https://www.meetup.com/fortbitcoin/events/291942225
https://nostr.build/i/nostr.build_1024d3df283bde24601fc38107a69b2dafde2dd7c7ca905a947e00b86f86daa7.png

2023-03-10 21:54:19

2023-03-09 13:34:06

Great day 1 at #Empower
Cafecito and Day 2 here we go.
#Bitcoin #Energy is Bigger in #Texas

2023-03-08 12:58:50

GM #Houston see you at #Empower

2023-03-07 23:44:39

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Stuck in traffic trying to get there

2023-03-03 21:06:24

If you are a miner large or small and need to find a site & power, we can help.
#GetYourLand
#GetYourPower
#Bitcoin
#Mining
#NatGas #Oil #Upstream #Midstream #GIS
Contact us to find out more BitPetro.app
https://nostr.build/i/nostr.build_3407a908ba3a7551012c6d62a913b6f24c3edacee1e77e51b020fa4356f2a3f9.jfif

2023-03-03 14:01:22

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#[4] same for you would love your take on this

2023-03-03 03:35:09

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#[3] I would love your take on the use of #LN for moving sums of say 10M USD for this type of settlement. When would you default back to L1 and what aside from privacy does having liquidity at that scale give to enterprise from your perspective?

2023-03-02 19:37:25

#MBL or meter by lightning is a system for settling oil and gas transactions via the Bitcoin Lightning Network.
The oil and gas industry is a complex and dynamic sector that involves the production, transportation, and sale of energy commodities. The industry operates across a global network of suppliers, producers, distributors, and customers, and relies heavily on an efficient and accurate financial settlement to maintain stability and growth. With the advent of Bitcoin and Layer 2 payment networks like the lightning network, there is an opportunity to revolutionize the way financial settlements are processed in the oil and gas industry.
Enabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons.
#bitcoin #energy #oilandgas #lightningnetwork
https://nostr.build/i/nostr.build_bed46db4f27fb22ef84574452b09ea65b6eed17370b3e5e22f0514e26d498572.png

2023-03-02 19:34:04

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We are developing a hardware solution and API module called MBL for Meter By Lightning that will solve a significant disconnect that exists between when and how hydrocarbons flow compared to when and how the payments for delivered products are settled. The disconnect results in cash lag, credit risk, and increased energy costs. The problem is the extended settlement time, it introduces downstream risk and complexities.
MBL resolves these issues by integrating existing hardware and custom software developed by and for the energy industry with integration into a peer-to-peer payment network. MBL’s platform offers revolutionary transaction capability and near-instant settlements. Synchronizing the custody exchange of energy with payments removes the financial overhead currently required in the administration of sales across the Upstream, Midstream, and Downstream sectors of the Energy Industry. Creating undue financial friction that can impede investment and innovation.
https://www.youtube.com/watch?v=-ePeoavu5-w
Enabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons.
MBL will launch near real-time settlement service for Midstream companies, Upstream Operators, and other parties involved in the gathering and distribution of oil and gas, and energy early next year. Flexible transaction capabilities include oracle based pricing and simultaneous multi-party settlement. The service which provides custom software and hardware will be available for the broader energy industry starting in 2024.
#bitcoin #energy #oilandgas #lightningnetwork

2023-03-02 19:32:24

Integrating #Financial #Settlement in the #OilandGas Industry using #Bitcoin and the #LightningNetwork
The oil and gas industry is a complex and dynamic sector that involves the production, transportation, and sale of energy commodities. The industry operates across a global network of suppliers, producers, distributors, and customers, and relies heavily on an efficient and accurate financial settlement to maintain stability and growth. With the advent of Bitcoin and Layer 2 payment networks like the lightning network, there is an opportunity to revolutionize the way financial settlements are processed in the oil and gas industry.
ERP and SCADA systems are two of the most widely used technologies in the oil and gas sector. ERP (Enterprise Resource Planning) systems are designed to help organizations manage their financial and operational data, while SCADA (Supervisory Control and Data Acquisition) systems are used to monitor and control processes and equipment. In an ideal scenario, ERP and SCADA systems should work together to provide a complete and integrated solution for the oil and gas industry.
One of the benefits of using bitcoin and the lightning network for financial settlements in the oil and gas industry is the near-instant settlement of transactions. This means that payments can be processed in real-time, without the need for intermediaries or delays caused by traditional payment networks. This could have a profound impact on the industry, reducing costs and increasing efficiency by allowing companies to quickly and easily process transactions.
The most widely used ERP systems in the industry, are SAP and Oracle. These systems are well-established, with a strong track record of success in managing financial and operational data for large and complex organizations. But sometimes accounting software is the only financial software in a small or mid-sized midstream company or a mom-and-pop exploration company.
However, the integration of bitcoin and the lightning network into these systems is not as straightforward as it might seem. To fully realize the benefits of these technologies, a new hardware solution and an API module would need to be developed for the ERP or accounting system. This device/module system would allow the ERP/accounting system to interact with the lightning network and process bitcoin payments in real time.
Such a system would need to be specifically designed to handle the unique requirements of the oil and gas industry, taking into account the complexities of the market and the need for accurate financial settlements. The module would need to be able to securely process and store data related to transactions, and integrate this information into the ERP system to provide a complete and up-to-date view of the financial and operational data of a company.
In conclusion, the integration of bitcoin and the lightning network into the oil and gas industry has the potential to revolutionize the way financial settlements are processed in the industry. The development of an API module for the ERP system would be a critical step in achieving this goal, allowing companies to process transactions quickly, securely, and cost-effectively. This could have a profound impact on the oil and gas industry, reducing costs, increasing efficiency, and improving the overall market for everyone involved.

2023-03-02 18:15:40

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As #intermittent renewables continue to become a larger share of the generation #mix, quick-ramping #gasgenerators will become more #necessary to fill #gaps in power generation

2023-03-02 18:15:26

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Because #grid operators often use #SCGT to #respond quickly to fluctuations in #demand, their use reached a record high in the summer of 2022 during periods of #weakgreen wind and solar #generation

2023-03-02 18:15:14

Simple-cycle gas generators operated at record highs last summer (@EIAgov )
Simple-cycle gas turbines are #less #efficient than combined-cycle gas turbines and require more fuel per unit of output

2023-03-01 15:21:04

Hey #nostr Where will you be March 8-9th?
I’ll be in #Houston for #Empower: Energizing Bitcoin, a @Digital Wildcatters event.
No FOMO. Get your tickets now:
https://digitalwildcatters.com/empower-2023/?utm_campaign=Empower-23&utm_medium=speaker&utm_source=kohn
https://nostr.build/i/nostr.build_2291a7e6b874d337854066a2047af81d28839e5891fd5605a0a4b05292b63dfa.png

2023-02-25 22:54:52

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render

2023-02-25 22:51:44

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energy

2023-02-24 20:34:12

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https://nostr.build/i/nostr.build_ab3f852bc9f5cf54f8d2da96979ad0ff27770af0d64680f5d9d8c18c8710657d.jpg

2023-02-24 20:31:33

Technologies like Bitcoin have energy, human, and sunk capital components that make them more like infrastructure than equities. Long term you are investing in cryptocurrencies because they will be the roads and bridges of the future of Finance, the new backbone of FinTech. Written in 12/7/17
Today, I would correct this by replacing cryptocurrencies with #Bitcoin, and now it holds up.
Credit to #[0] for the photo and a lot of inspiration.