Bitcoin Course | Big Picture Basics 2.2 - Commodity: Electricity

“The Price We Pay and Society’s Prosperity.”
Every time we flip a switch or plug in a device, there’s a cost associated. While it might appear as just a “number” on our monthly bills, the price of electricity ($/kWh) profoundly impacts our lives. High electricity prices strain household budgets and ripple throughout the economy.

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Video Transcript:

[Music] so we’ve discussed so far the production of electricity the transfer of electricity to the grid and obviously on the other end is the consumers of electricity and I believe that the pace of society was really set by the price of electricity when the price of electricity is really high it’s really hard for people to to manage their savings against these really high expenses they start adjusting the quantity of electricity that they use these societal impacts translate across goods and services when the cost of producing something is the cost of the energy to actually produce it it means that if the energy price goes up everything goes up alternatively if the energy prices come down it means goods and services are cheaper to manufacture it means electric cars are cheaper to run per mile and all other aspects of society that need energy and so if we have a world that is aiming to reduce the price of electricity over time I believe we can bring about human prosperity in multiple different ways for society as a [Music] whole [Music]

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