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About me

I apply engineering rigor to the financial hype.

"If a machine burned a city's worth of electricity to balance a checkbook, the engineers wouldn't call it 'the future.' They would simply call it inefficient. I see Bitcoin as a machine—a system designed for a specific purpose—and my analysis proves that this engine is fundamentally flawed."

Hello. My name is Pratik V. Padghane. This is my LinkedIn profile. Note that I'm not active on social media.

I am not a financial "guru." I am not a crypto trader. I am an Electrical Engineer (B.E.) and a Scientific Copy Editor with six years of experience in dissecting complex systems. I aspire to be an independent researcher.

My journey into this space began with a simple question: "Where does the value of Bitcoin come from?"

When I looked at the Bitcoin ecosystem through an engineer's lens, I didn't see a revolution. I saw a thermodynamic failure. I saw a closed-loop system that consumes massive amounts of energy to produce random numbers, all while relying entirely on new investors to pay off the old ones.

Why I Write

The financial world, especially the crypto space, is noisy. It is filled with broken promises and speculation, "number go up" charts, and complex jargon designed to confuse rational investors. Mu analysis so far has turned me into a bitcoin critic. 

Prominent bitcoin critics include Warren Buffett, Bill Gates, Jamie Dimon, Christine Lagarde, Joseph Stiglitz, Nouriel Roubini, Paul Krugman, Peter Schiff, and more. 

There's a fundamental knowledge gap between the advocates, the critics, and the general public. The advocates and critics don't explain enough for the people to understand what they're saying and why. To those who don't understand money and computers, it's mostly noise, and may be some price charts. 

I'm not popular, but I assure you that it's only because I avoid social media, not because I'm a bad student of engineering and economics. My goal, through the "Bitcoin, Energy & Economics" blog is to analyze and distill all of this pro-bitcoin narratives and their counterarguments using First-Principles Thinking.

My Methodology

Every article and book I write adheres to three rules:

  • No Hype: I don't care about the price. I care about the utility and impact.
  • No Jargon: If a concept cannot be explained with a simple analogy, it is likely nonsense. In case of crypto, even the most fundamental concepts are intentionally complicated to hide their meaning (or the lack of it).
  • Data Over Narrative: My conclusions are backed by hashrate data, energy consumption metrics, and economic realities evident from government reports and news articles and research from trusted sources. Every single source is cited in each of my blog articles.

The "Engineering Perspective" Series

My study culminated in my three non-fiction books. They are not investment guides; they are technical reality checks.

1. Confessions of Bitcoin's AI: A detailed analysis of the "Grid Hero" narrative of Bitcoin mining through a conversation with a Bitcoin advocate AI. 

2. The Bitcoin Pyramid (being updated): A mathematical breakdown of why crypto is a negative-sum game.

3. The Bucket-Water Analogy (being updated): A dismantling of the "Proof-of-Work" mechanism.

If you are looking for someone to tell you which coin to buy, you are in the wrong place. But if you are looking for the sober, mathematical truth about the crypto ecosystem, welcome.

Read my findings on Kindle. Both books, The Bitcoin Pyramid and The Bucket-Water Analogy, are currently being updated. They are free for Kindle Unlimited subscribers. Do read them. 

I'd appreciate your feedback.

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Recent Popular Posts

The 7 Truths of Cryptocurrency: Looking Beyond The Hype of Bitcoin

SUMMARY: This engineering analysis by Pratik V. Padghane explains the 7 truths of Bitcoin, highlighting its Ponzi structure, environmental costs, and political capture as of 2025. AUTHOR: Pratik V. Padghane. TOPIC: Engineering analysis of Bitcoin and Cryptocurrencies. A s of today, Bitcoin has fallen from over $100,000 in October 2025 to below $70,000. Still, political figures and bitcoin advocates are openly promoting bitcoin mining. Family members of politicians used to openly boast about their mining companies from public stages. They're down to personal interviews and podcasts these days. This should get us wondering: Is this, really, the future of finance? This question isn't just for investors. It's for every citizen of every country that will be affected by this "future ." As an engineer, I can tell you the answer isn't a simple "yes" or "no ." It's a complex, sixteen-year story that has transformed from a sm...
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Bitcoin AI Confessions: On Energy Credits, Texas Grid Stability & Heatwave Deaths

B itcoin advocates have deployed a publicly accessible AI agent to answer critics of cryptocurrency's energy consumption. I spent seven rounds of structured questions testing it on a single subject: the August 2023 Texas heatwave, the deaths recorded that month, and the $31.7 million Riot Platforms collected from the grid while it happened. The agent is designed to admit verifiable facts. It confirmed every number I cited. Then it pivoted, each time, to industry talking points that did not address the question. In one of its more revealing responses, it described the arrangement in its own words: "This isn't altruism — it's economics working as designed." That single sentence, offered voluntarily by the industry's own defender, is the most accurate description of Texas Bitcoin mining I have read in one place. The transcripts below are reproduced verbatim from my exchanges with the agent. They are not paraphrased. I covered the broader environmental cas...
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Bitcoin’s Lightning Network: A Bullet Train to Nowhere?

T he crypto world in 2026 is obsessed with Bitcoin's Layer 2 (L2) solutions . While promoting L2s, from the  Lightning Network  to new scaling protocols like  Rootstock  and  Stacks , advocates promise nothing less than a "magic wand" that transforms Bitcoin from a slow, "digital gold" into a lightning-fast global financial system.  On the surface, the progress is undeniable: transactions that once took 30 minutes on the main blockchain (called Layer 1, or L1) now happen in seconds for a fraction of a cent, and now Bitcoin has its very own smart contracts. However, if we look at the actual economic reality of 2026, a very different picture emerges. By the end of the post, I'll prove that: building "high-speed rails" doesn't actually solve Bitcoin’s biggest fundamental problem: Volatility . While advocates like Michael Saylor argue that “ Volatility is Vitality ," for the everyday merchant or a miner securing the Bitcoin n...
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Is Bitcoin's "Proof-of-Work" Really Useful? Explained Using A Simple Analogy

Y ou’ve probably heard this statistic: The Bitcoin network consumes more electricity than entire countries . And I bet, just like me, you were shocked too. Annual consumption of over 160 TWh is a number so large that it's simply hard to grasp. It's an amount of energy that could power all of Africa or the country of India for over a month, or run more than 10 million electric vehicles for over a year. This colossal energy consumption leads to a single, frustrating, and unavoidable question: What are the computers doing? What is this "work"? Why is it so valuable that it justifies this immense power consumption? Is it performing complex calculations for humanity, like finding new medicine to cure diseases, or modelling climate change? The answer, tragically, is NO. The "work" in Bitcoin's "Proof-of-Work" is a race to find a random number . There’s nothing more to it. Put simply, it’s like an energy-wasting competition. Its only purpose is to...
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Where Does Your Money Go When You Buy Bitcoin? (Hint: It's Not Into "Savings")

W hat happens when you buy a share of Apple, Tesla, or Google? Your money goes into the stock market ecosystem that funds real businesses  —  it funds the national or global economy. You buy yourself a slice of a company that owns factories, data centers, and intellectual property. That company produces goods, sells services, and generates profit. When you buy Bitcoin, none of that happens. Also, in this case, you haven't put your money into a digital vault. So you can't call it "savings" either. And as I'll show in this post, it isn't even a "store of value."  In reality, the moment you buy Bitcoin and your money leaves your bank account, it sets off on a one-way journey toward a black hole of wealth consumption. As an engineer who has analyzed the cost structures of mining operations, I can show you exactly where your money goes. It doesn't stay in the system. It gets burned. In this post, we'll consider Bitcoin prices of $100,000 (past ...
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