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The Fiat Standard Lecture 16: Bitcoin and Energy Markets discusses proof of work as a technological alternative to fiat’s political conflict, how miners seek zero-opportunity-cost energy globally, and why difficulty adjustment turns demand into network security. You can buy the hardcover, ebook or audiobook in several languages on saifedean.com/TFS, where you can also find the full lecture notes available for free download. You can also take the rest of Saifedean's courses by signing up to a membership on saifedean.com/membership 🔗👇🏼 Sponsors Swan: Buy your bitcoin and get concierge service from swan.com/saif Daylight Computer: Use code SAIF to get 10% off the low-time-preference computer on daylightcomputer.com The Saif House: Get Saifedean's books and high quality bitcoin & economics books with bulk discounts on TheSaifHouse.com The Bitcoin Way: Expert help on every step of your bitcoin journey on TheBitcoinWay.com Coinkite: Buy the Coldcard, Opendime, and Satscard, the best bitcoin devices from Coinkite.com ----------------------------------------------------------------------- Saifedean’s first book, The Bitcoin Standard: https://saifedean.com/thebitcoinstandard Saifedean’s second book, The Fiat Standard: https://saifedean.com/thefiatstandard Saifedean’s third book, Principles of Economics: https://saifedean.com/poe Saifedean’s fourth book, The Gold Standard: https://saifedean.com/tgs Enjoyed this episode? Join Saifedean's online learning platform to take part in weekly podcast seminars, access Saifedean’s four online economics courses, and read his writing, including his new book, Principles of Economics! Find out more on Saifedean.com!