Big picture Bitcoin #energy #sats #blockchain

Video Transcript

So this is my favorite graphic that I created to help people understand that Bitcoin has many moving Parts but it can be easily understood as a circular energy economy that it has six core Parts the production of energy the energy on the grids the demand for energy to produce compute power and that

Compute power finds the next block in the chain and the Bitcoin blockchain is specifically unique not because it’s just a blockchain chain and it’s a silly keyword that’s thrown around a lot but the blockchain is only updated with energy and that is really important because what do we store in these blocks

We store data and that data is Bitcoin and all of the transactions that are made in Bitcoin so the issuance of new Bitcoin and the settlement of existing trade and it’s only settled and it’s only updated through the physical world of energy which democratizes the control of the system the