Added Bitcoin Sections

Bitcoin/Bitcoin_and_Oil.tex

@@ -3,6 +3,8 @@
 %----------------------------------------------------------------------------------------
 \documentclass[aspectratio=169,xcolor=dvipsnames]{beamer} \usetheme{SimpleDarkBlue} \usepackage{hyperref}
 \usepackage{graphicx} % Allows including images
+\usepackage{framed}
+\usepackage{amssymb}
 \usepackage{booktabs} % Allows the use of \toprule, \midrule and \bottomrule in tables
 \usepackage{textpos}
 %{\includegraphics[width=\paperwidth,height=\paperheight,keepaspectratio]{./img/Mines_background1.pdf}}
@@ -32,7 +34,12 @@
 \begin{document}
 %------------------------------------------------
 \section{Introduction \& Overview}
+\input{./Sections/Intro.tex}
 \input{./Sections/Key_Questions.tex}
+\input{./Sections/Bitcoin_Incentives.tex}
+\input{./Sections/Mining_Structure.tex}
+\input{./Sections/Mining_Model.tex}
+\input{./Sections/Mining_elast.tex}
 \section{Theory}
 \section{History}
 %\subsection{Key Events}

Bitcoin/Sections/Bitcoin_Incentives.tex

@@ -0,0 +1,29 @@
+%------------------------------------------------
+\begin{frame}{Bitcoin Mining Rewards}
+	Two sources of income for Bitcoin Miners, a Block Reward and a User fee
+	\newline
+		\begin{center}
+			Constant Miner Reward 
+		\begin{formal}	
+	``The steady addition of a constant amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.''
+		\begin{list}{$-$}
+				\item{Satoshi Nakomoto}
+		       \end{list}
+
+		\end{formal}	
+	\end{center}
+	%Current reward is 6.5 Bitcoin
+	\begin{center}
+		Variable User Fees
+		\begin{formal}	
+		%The incentive can also be funded with transaction fees. If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction. Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.
+			``The incentive can also be funded with transaction fees\ldots Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees''
+			\begin{list}{$-$}
+				\item{Satoshi Nakomoto}
+			\end{list}
+		\end{formal}
+	\end{center}
+	%Currently ranges from 1\% to 2\% of reward, but has spiked to 25\%
+
+\end{frame}
+

Bitcoin/Sections/Key_Questions.tex

@@ -1,12 +1,31 @@
 %------------------------------------------------
 
-\begin{frame}{Questions}
+\begin{frame}{Key Questions}
 	\textbf{What are the long run regional welfare changes that can be expected as Bitcoin mining becomes a co-product of oil?}
+\pause
     \begin{itemize}
         \item What type of incentives are created?
-		\subitem{test}
-        \item What is the regional distribution of these incentives?
-	\item How might producers respond in each region? 
-        \item How will consumer and producer welfare change? 
+		\begin{itemize}
+			\item{Micro model of Bitcoin mining \& oil production choices}
 		\end{itemize}
+ 	\pause
+        \item What is the regional distribution of these incentives?
+		\begin{itemize}
+			\item{Collection of well attribute data}
+		\end{itemize}
+ 	\pause
+	\item How might producers respond in each region? 
+		\begin{itemize}
+			\item{Econometric estimates state-basin level elasticty of supply}
+		\end{itemize}
+ 	\pause
+        \item How will consumer and producer welfare change? 
+		\begin{itemize}
+			\item{Model revenue changes}
+			\item{Engineering based pollution estimates}
+			\item{Local externality counterfactual}
+		\end{itemize}
+\end{itemize}
+\pause
+\textbf{Results in counterfactual oil production by geologic basin and state, in key metrics.}
 \end{frame}

Bitcoin/Sections/Mining_Model.tex

@@ -0,0 +1,5 @@
+\begin{frame}{Bitcoin Mining Market Structure}
+\begin{center}
+	    \includegraphics[width=\textwidth,height=0.8\textheight,keepaspectratio]{./img/SDMining.png}
+\end{center}
+\end{frame}

Bitcoin/Sections/Mining_Structure.tex

@@ -0,0 +1,34 @@
+%------------------------------------------------
+\begin{frame}{Bitcoin Mining}
+    \begin{columns}[t] % The "c" option specifies centered vertical alignment while the "t" option is used for top vertical alignment
+        \column{.45\textwidth} % Left column and width
+        \textbf{Rewards and Fees}
+        \begin{enumerate}
+	\item{Awarded by ``lottery''}
+	\item{Lottery completes \(\approx \) every 10 minutes}
+	\item{Risk pools smooth returns}
+        \end{enumerate}
+
+        \column{.5\textwidth} % Right column and width
+        \textbf{Costs}
+        \begin{enumerate}
+	\item{Fixed cost: Specialized computers }
+	\item{Marginal cost: Electricity}
+        \end{enumerate}
+    \end{columns}
+    \mbox{}
+    \newline
+    \newline
+    \textbf{Model of single period returns}
+    \newline
+    \(Revenue=\text{Total Reward}\cdot \frac{\text{Tickets Owned}}{\text{All Tickets}}\)
+    \newline
+    \(Costs=\text{Electricty used}\cdot\text{Price of Elctricty}\)
+    \newline
+    \(\text{Tickets Owned}=f(\text{Computer Output},\text{Electricty Used})\)
+    \newline
+    \(\text{Total Reward}=\text{Mining Reward} + \text{User Fees}\)
+
+    
+\end{frame}
+

Bitcoin/Sections/Mining_elast.tex

@@ -0,0 +1,17 @@
+\begin{frame}{Bitcoin Mining Market Structure}
+	\begin{block}{Revenue}
+		\begin{equation}
+		R_{i,t}=\eta_{t}\cdot\frac{q_{i}}{Q^{-i}_{t}}
+	\end{equation}
+\end{block}
+Where \(R_{i,t}\) is the revenue of miner \(i\in I\), at time t. \(q_{i}\) is the hash power of a miner i, and \(Q^{-i}_{t}\) is the hash of all other miners. The miner reward is \(\eta\)
+
+	\begin{block}{Revenue change from t to t+1}
+		\begin{align*}
+%		R_{i,t+1}-R_{i,t}=\eta \cdot\frac{q_{i}}{Q^{-i}_{t+1}-Q^{-i}_{t}}
+%		\\
+			\%\Delta R=\%\Delta P_{btc}(1-\epsilon)
+	\end{align*}
+\end{block}
+If the bitcoin price elasticity of hash \(\epsilon\) is elastic, than a decrease in price will \textbf{\emph{increase}} revenue, for low marginal cost producers.
+\end{frame}

Bitcoin/beamercolorthemeSimpleDarkBlue.sty

@@ -0,0 +1,49 @@
+\definecolor{InvisibleRed}{rgb}{0.92, 0.9, 0.9}
+\definecolor{InvisibleGreen}{rgb}{0.9, 0.92, 0.9}
+\definecolor{InvisibleBlue}{rgb}{0.9, 0.9, 0.92}
+
+\definecolor{LightBlue}{rgb}{0.4, 0.55, 0.65}
+
+\definecolor{MediumRed}{rgb}{0.92549, 0.34509, 0.34509}
+\definecolor{MediumGreen}{rgb}{0.36862, 0.66666, 0.65882}
+\definecolor{MediumBlue}{rgb}{0.01176, 0.31372, 0.43529}
+
+\definecolor{DarkBlue}{rgb}{0.05, 0.15, 0.3} 
+
+\usecolortheme[named=DarkBlue]{structure}
+
+\setbeamercolor{palette primary}{bg=DarkBlue,fg=white}
+\setbeamercolor{palette secondary}{bg=MediumBlue,fg=white}
+\setbeamercolor{palette tertiary}{bg=LightBlue,fg=white}
+\setbeamercolor{block title}{bg=MediumBlue}
+\setbeamercolor{block body}{bg=InvisibleBlue}
+\setbeamercolor{block title example}{bg=MediumGreen}
+\setbeamercolor{block body example}{bg=InvisibleGreen}
+\setbeamercolor{block title alerted}{bg=MediumRed}
+\setbeamercolor{block body alerted}{bg=InvisibleRed}
+%%ACG ADDED
+%Created for making quotes look nice 
+%https://jevon.org/wiki/Fancy_Quotation_Boxes_in_Latex
+	% for adjustwidth environment
+	\usepackage[strict]{changepage}
+
+	% for formal definitions
+	\usepackage{framed}
+	\definecolor{formalshade}{rgb}{0.95,0.95,1}
+
+	\newenvironment{formal}{%
+	  \def\FrameCommand{%
+	    \hspace{1pt}%
+	    {\color{DarkBlue}\vrule width 2pt}%
+	    {\color{formalshade}\vrule width 4pt}%
+	    \colorbox{formalshade}%
+	  }%
+	  \MakeFramed{\advance\hsize-\width\FrameRestore}%
+	  \noindent\hspace{-4.55pt}% disable indenting first paragraph
+	  \begin{adjustwidth}{}{7pt}%
+	  \vspace{2pt}\vspace{2pt}%
+	}
+	{%
+	  \vspace{2pt}\end{adjustwidth}\endMakeFramed%
+	}
+

Bitcoin/beamerfontthemeSimpleDarkBlue.sty

@@ -0,0 +1,26 @@
+\mode<presentation>
+
+%%%%%%%%%%%% fonts
+
+\setbeamerfont{structure}{family=\sffamily,series=\mdseries}
+
+\setbeamerfont{title}{size=\LARGE,parent=structure}
+\setbeamerfont{subtitle}{size=\normalsize,parent=title}
+
+\setbeamerfont{date}{size=\scriptsize,series=\mdseries,parent=structure}
+\setbeamerfont{author}{size=\Large,series=\mdseries,parent=structure}
+\setbeamerfont{institute}{size=\scriptsize,series=\mdseries,parent=structure}
+
+\setbeamerfont{section in toc}{size=\Large,parent=structure}
+\setbeamerfont{section in head/foot}{size=\tiny,parent=structure}
+\setbeamerfont{subsection in toc}{size=\large,parent={section in toc}}
+
+\setbeamerfont{frametitle}{parent=structure,size=\LARGE}
+\setbeamerfont{framesubtitle}{parent=frametitle,size=\Large}
+
+\setbeamerfont{caption}{size=\footnotesize}
+\setbeamerfont{item}{parent=structure,series=\mdseries}
+\setbeamerfont{block title}{size=\large,series=\mdseries,parent={structure,block body}}
+
+\mode
+<all>

Bitcoin/beamerthemeSimpleDarkBlue.sty

@@ -0,0 +1,23 @@
+\mode<presentation>
+
+% Settings
+\usetheme{Madrid}
+\useinnertheme{circles}
+% \useoutertheme{simpleinfo}
+% \useoutertheme{miniframes} % Alternatively: miniframes, infolines, split
+\usefonttheme{SimpleDarkBlue}
+\usecolortheme{SimpleDarkBlue}
+
+% \setbeamertemplate{footline} % To remove the footer line in all slides uncomment this line
+\setbeamertemplate{footline}[frame number] % To replace the footer line in all slides with a simple slide count uncomment this line
+\setbeamertemplate{navigation symbols}{} % To remove the navigation symbols from the bottom of all slides uncomment this line
+\setbeamertemplate{blocks}[rounded][shadow=true]
+\setbeamertemplate{enumerate items}[default]
+% table of contents (overview)
+\setbeamertemplate{section in toc}[sections numbered]
+\setbeamertemplate{subsection in toc}[default]
+%%ACG
+\setbeamertemplate{itemize item}[square]
+\setbeamertemplate{itemize subitem}[triangle]
+
+\mode<all>