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Is Bitcoin mining Hardware an E-Waste Time Bomb let’s have a look Bitcoin mining is energy Arbitrage so if you can see that with a certain machine you can turn a dollar of electricity into more than a dollar of Bitcoin then you can make a profit and so you’d want to buy

Mining machines Network hash rate right now is 523 xash if you know your scientific units that’s 523 million terahash at 40 terahash per machine that’s 3.7 million mining machines out there in the world so what do we do with the millions of mining machines when $1 of electricity into them does not earn

More than a dollar going out plugging them in would create a loss unless the value is not for their Bitcoin anymore it’s for their heat old machines are being retrofitted into electrical heaters to subsidize your energy bill and maximize the lifetime of every single machine what

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If I could compress my seven years of Bitcoin study into a single quote it would be those most efficient with their energy will account the most SS AKA Bitcoin let me show you why Bitcoin is vertically integrated from the energy sector the electrical grids through the internet and protected on the internet

To form a new monetary unit that we can use in global Finance efficiency is doing more more with less in terms of Bitcoin that is doing the least amount of electrical cost for the most amount of Bitcoin return if we run a kilowatt through three different mining machines new

Average and old we will get different amounts of hash power hash power earns Bitcoin every single day which means that if you’re producing more with your kilowatt you’re earning more Bitcoin with your kilow so the new machines are more efficient and more profitable than the old more efficiency more Bitcoin oh

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93.5% of Bitcoin has been mined that means it’s in circulation the other 6 and a half% is going to be mined over the next 120 years that is what brings in its scarcity there’s no magical button to press to print more of it so as the demand goes up and the supply is

Constrained the price goes up the circulating Supply is on a trend to issue all Bitcoin in a diminishing returns Fibonacci Sequence which basically means in the first four years half the supply was mined in the second four years 25% cut it in half 12 and 1/2 cut it in half

6.25 cut it in half 3.125 and what you’ll see is it follows this mathematically beautiful Fibonacci sequence of cutting the issuance of Bitcoin in half whilst the pole of energy increases underneath

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Bitcoin mining machines otherwise known as as6 what is their value and how are they priced let me show you the hardware unit I just showed you consumes 3 1/2 Kow of electricity to produce 200 teres of hash power and it’s priced at $5,000 to be able to compare different

Mining machines we need a metric this is the price metric where you divide the machine price by the machine hash rate to get the price per terahash the next question asked is well why do different machines have different prices and a different price for terahash the answer is efficiency you can calculate

The efficiency of any mining machine by dividing its power draw by its hash rate that is the value metric and that’s what sets its price in the market take the example of an older machine it uses more energy so it’s cheaper versus the new machine which uses less energy so it’s more expensive

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This is the trading chart comparing Bitcoin to gold right now it’s 31 o of gold per one Bitcoin now this is an interesting chart for the reason that Bitcoin is typically considered digital gold so comparing physical gold to digital gold is a really interesting chart to look at in 2021 the all-time

High was 35 o of gold per one Bitcoin which is just about a kilo of gold what do we think the next higher level of gold to bitcoin price chart will be I think 400 o

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Hash power is the projection of raw physical energy into Digital Data otherwise known as Bitcoin and what that means is that with a projection we can consider it at an abstraction and abstractions aren’t the reality because we don’t even truly know how much hash power is online at every given time we

Know exactly how much electricity is being consumed we know what the timestamp output of Bitcoin being produced is but hash power is this weird and wonderful computational bridge between the physical side of Bitcoin and the digital side of Bitcoin so how can you build reality within the abstraction

Of constantly online and offline compute power well this is where the difficulty adjustment comes in which looks at the past 2016 blocks over time and measures them if it’s 10 minutes perfect if it’s quicker than 10 minutes make it more difficult if it’s slower than 10 minutes make it more harder to mine

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Bitcoin’s going up how exciting but here’s the most important thing to understand if you’re going to buy a car it’s pretty important that you look at the engine if you’re going to buy a house it’s pretty important to get a building inspection to understand what you are purchasing so when it comes to

Bitcoin a new monetary technology an emerging technology with an old system of fiat currency behind it and a new energy economy in front of us that is the you need to understand what you are investing in that is education here at the hash power Academy this is the platform of all different

Social outreaches to learn about Bitcoin educate and understand the different pieces of the network not just the financial asset at the top so I invite you I employ you to look into the hash power Academy and find out all the different pieces that you don’t know about this technology

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So how scarce is Bitcoin and how much more scarce is it going to become let me show you the size of Bitcoin per block per 4year cycle issues that percentage of the supply so 50% in the first 4 years 25% in the second four years 12 1/2 6.25

3.125 and it gets cut in half all the way to zero in 100 plus years by the year 2030 99% of bitcoin’s Supply will have been mined that means that there’s only 1% of Bitcoin remaining to mine over the next 100 years in terms of scarcity we consider this absolute scarcity you can

Build more houses you can prepare more land you can print more Fiat money but you cannot create any more Bitcoin as the growing adoption pool of energy underneath increases so does its value but

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Bitcoin may be magic internet money but the actual infrastructure layers underneath delve into three core technology sectors let me show you the first place to begin would be energy Tech otherwise known as Genentech and that is different types of generation of producing electricity who uses that electricity different types of compute

Sources and that is the CPU of your computer the GPU specific machines to mine Bitcoin immersion and hydrocooling Technology solution and everything gets more Innovative over time and what does that hash power produce it produces Bitcoin and that’s stored and counted in nodes in wallets different platforms new

Layers such as lightning and now the ETFs energy technology computer technology and financial technology that’s Bitcoin fusing all three and expanding all in their own different directions Bitcoin is a gamification of storing your energy in the most efficient way that is the Bitcoin standard so

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Why on Earth the people mine Bitcoin I’ll show you the first key piece to understand is this Bitcoin itself is a global monetary Network and that is people sending and receiving Bitcoin to one another all of those Bitcoin transactions pay fees and the Bitcoin miners are the ones who earn those fees

They are the decentral bankers of the Bitcoin Network let me show you how it breaks down in terms of electricity cost and how much profit per kilowatt hour that they earn a typical minor May pay 5 cents per kilowatt running that electricity through his machine to earn

12 cents of Bitcoin per kilowatt that’s his cost and that’s his revenue and the gap between is his profit so a Bitcoin miner wants to get the cheapest price for electricity because that widens the Gap so he’s earning more Bitcoin Bitcoin mining is an economic incentive to use energy