BitAxe Mini-Miner | Education & Review | The Whitepaper Edition

Video Transcript:

hello there and welcome to a product review SL educational video I’m going to do about the bit a white paper Edition and the key takeaway here is you can spend hundreds of hours going through content courses podcasts and everything in between but you’ll learn more about Bitcoin and its wider Network by one of these bad boys probably in an hour for the reasons of we can go through all the keywords of learning about Bitcoin all the different pieces and how they all fit together but until you actually plug one of these in consume electricity understand that it produces hash rate and that hash rate is trying to find the next block in the chain and that connection through the internet to a mining pool the mining pool giving you payouts of Bitcoin that you send to a wallet and maybe to a physical wallet if you put all those pieces together in an hour you you’ve learned more about Bitcoin entirely the whole stack Allin one and and that’s the key takeaway as to why i’ I’d recommend this I love it I think it’s really cool so it’s the white paper edition of the bit a because it’s got the white paper as its backboard and that’s truly the the fundamental start of this entire Bitcoin Journey Satoshi Nakamoto didn’t log into an exchange like you and buy Bitcoin he consumed electricity to produce the money of the future and that’s the key takeaway here that the money needs to have a cost to produce and if we Define that cost of produce in a productive commodity like electricity you know that commodity that we all need for everything in the 21st century Information Age well it just backs it by something that we can exchange uh the excess electricity of our entire world into monetary div derived energy units that’s defended by all of this all of this compute power that we’re producing together and that that coordination of of in incentives that all fit together is is why we’re still here today talking about it um yeah this little product is the white paper edition of the bit a meaning it’s a bit a hardware product so there’s groups of guys out there that that produce the bit a mini miners as I like to call them um this is from a company called .xyz that’s where I got it from I do have a code somewhere somewhere here on this video that that you can go to to get a discount and get your own code as well if you want to share the share the knowledge on um and that process of going through all the different components of the Bitcoin network is so fundamental because if you just log into a platform and buy Bitcoin and yes learn about Bitcoin as money you’ve just got one very narrow branch of learning about Bitcoin that if you go through the energy stuff the compute stuff how it all interconnects together as a framework of what I like to call Energy space and time well those branches of different bits some knowledge they all just fit together and I think it’s quiet enough of a device that your wife won’t complain your kids will love it because well they just will it’s physical it’s Hands-On and if they break it you can make them solder it back together um and it just it just brings everything into fruition really it’s it’s a valuable little kit and you’re not going to get it to economically mine and what I mean by that is large scale industrial miners they buy machines in bulk for cheap prices and get that economic return of well they buy a Bitcoin that’s buying versus mining Bitcoin which is you buy a bitcoin’s worth of machines and hope that those machines produce more than a Bitcoin over the lifespan of those computers that is not why people buy this this is an educational tool in which the price is more expensive than what you could theoretically m in the future in dollar terms it will catch up but in Bitcoin terms no but this this will give you the advantage over everyone else because if you learn about all those fundamental layers you just you just have more access to knowledge and opportunities that could potentially come up in the future about all the different weird and wonderful things about Bitcoin um the key takeaway I think as well to include is that Bitcoin fundamentally started with Satoshi Nakamoto as read write and own like the the layers of the internet we started with just basic websites that was reading right was the social media phenomenal owner of being able to create your own content and and data interpretation and ownership is now this Bitcoin layer that you have ownership on the internet and the fragmentations for Bitcoin specifically in relation to its blockchain read is the nodes they they you can view all of the information online and that those that information comes from the nodes you can write which is Bitcoin mining at scale producing your own blocks and when you produce your own blocks you decide what transactions go in the blockchain and ownership is the ownership of the Bitcoin and those three pieces have fragmented into nodes fragmenting out into different layers and different complexities and chains of Bitcoin uh right is mining expanding out into the industrial scale mining sector and ownership which is Bitcoin in a wallet hot wallets cold wallets and Hardware wallets and that fragmentation and custodial finance and credit and Loan against your Bitcoin and all this sort stuff is everything’s it’s all expanding in its own directions um but if you want to bring it all back to fruition of a tiny little device that can sit in your house then yeah get one of these