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Why does the price of Bitcoin go up after the harving well the short sweet Finance bro answer to this is the supply of freshly mined Bitcoin is cut in half and so with the same amount of demand out there the price goes up it explains things from a price perspective but what

About a value perspective well a miner converts a quantity of electricity exchanged through a machine to earn a quantity of Bitcoin so his electrical Bill stays the same but if the Haring comes along it cuts the amount of Bitcoin in half so now he needs to use twice as much electricity to produce

That same Bitcoin this means that Bitcoin has an electron value so if it’s 400,000 Kow to produce a Bitcoin now you need 800,000 KW the electron value of Bitcoin has doubled and so for miners it’s the doubling whether it’s the finance Bros it’s the Haring

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Bitcoin nodes what are they and why are they important and what is the history of them let’s have a look Bitcoin nodes store all of the transaction data of the blockchain and who was the first node that would have been Satoshi he would have shared all of the transaction data

Of the blockchain up to date with everyone else you can think of the nodes as the digital decentralized expansion of the Bitcoin network but the crazy thing is that’s not how Bitcoin know noes originally were functioning in the beginning you were mining managing your wallet and storing all of the data

Within the node itself let’s have a look when Satoshi began running his node he would have run the software produced his own blocks of Bitcoin stored all of that transaction data and managed the money of his wallet what’s happened now is all of these different roles have segregated into different Industries mining running

Pools managing nodes and wallet applications

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There is a trojan horse in the Bitcoin Network and it uses human greed to trick us into making the world’s most powerful money that has ever been invented let me show you Bitcoin as a network settles trillions of dollars worth of transactions every year that creates a

Poll of fees bitcoin’s fixed in Supply you can’t print it so you have to earn those fees who earns those fees an infinite potential amount of hash power to be produced what is Hash power produced by electricity and so the Trojan Horse is Bitcoin itself inviting people to connect as much energy into

The system and therefore inflating the purchasing power of Bitcoin infinitely over time more directly explained as infinite energy potential locked within 21 million digital units of Bitcoin hash power gives Bitcoin its energy value

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Is Bitcoin a crypto no Bitcoin uses cryptography as a mathematical layer to defend your monetary data otherwise known as Bitcoin take the example of WhatsApp you’ve got your endtoend encryption which means you send private information through the public internet with somehow nobody else being able to supposedly read it Bitcoin itself uses

What we call a hashing function to encrypt the data within the block blockchain and that is that there is an input the hashing function sh 256 and two to the power of 256 potential outputs so it’s almost impossible to guess the input and so we can communicate freely and protect our

Monetary data within the Bitcoin Network Bitcoin uses cryptography as both an attack vector and a defense as a symbiotic pair within the Bitcoin Network there’s a lot more to learn

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Bitcoin has a really interesting philosophical lens the physical energy and Mining side of the network is all about you and your strength as an individual in the physical world which is very apparent in our laws of nature on the digital side of Bitcoin it’s all about the network the strength of the

Collective and the number of connections that you make whether socially financially in the lightning Network it’s about your channels and so that comparison between the individual and the collective is very interesting to understand and to observe for example the individual minor versus the collective network of all

Miners if he’s producing 5x a hash of hash power and the network is 500 he’s earning 1% of all the Bitcoin Network Revenue his individual contribution is what he earns in return Bitcoin brings about a world where your individual contribution is recognized and valued

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History is written by The Victors and what that means is that throughout all the different civilizations that have risen or Fallen the person that got to decide what is the truth and what is the historical facts has somewhat been Twisted but this is very different in terms of Bitcoin because with Bitcoin

History is written by The Victors every 10 minutes and once it’s set it cannot be changed you can think of Bitcoin miners as fighting a computational battle to put the next block in the chain if the minor finds a block they decide what transactions go in that

Block and thus they earn the fees and the reward once that is locked in space and time it cannot be changed because it would cost a lot of energy to change that block and so everyone’s racing to find the next block in the chain and

They get to hold the pen of the Bitcoin accounting system for only 10 minutes history is written by The Victors every 10 minutes

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Would you agree that money is essentially a form of energy and that is that it’s hidden within our language already we say the purchasing power of our money let’s see what the Bitcoin context of energy is the entire technology stack of Bitcoin starts with energy production and the Justified use

Of electricity that electricity is consumed in Bitcoin mining hardware and it produces a digital commodity called hash power what does hash power do it finds the next block in the chain and what do we store in those blocks we store data that stays online forever otherwise known as Bitcoin and what do

We all think of Bitcoin it’s a financial asset a commodity a monetary good if energy can neither be created nor destroyed only transferred it means that the monetary energy of Bitcoin is adhering to the laws of physics where fiat currency is not adhering to the laws of physics and inflating and

Stealing all of our energy that’s

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This happens every single bull cycle why the short answer is that people see price and confuse it for value value is the production cost as shown above that is the production cost to produce your Bitcoin in electrons that is its true intrinsic value when people see price they confuse that for its purchasing

Power yes you can purchase $57,000 of infinitely printed Fiat money but what else can you exchange your Bitcoin into hash power and electricity but then you might ask how do you get on this side of the aisle versus that one be greedy when others are fearful be fearful when others are greedy

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Happy Leap Year Day which means it’s the 29th of February but the planet is not the only thing with a 4year cycle and some other Celestial type interesting things let me show you Bitcoin has blocks found approximately every 10 minutes based on compute power the difficulty adjustment regulates that 10

Minutes to approximately 14 days by looking at every 2016 blocks to see if it fits 10 minutes if it’s slower it makes it easier if it’s quicker it means more Hardware has come online and so it increases the difficulty to mine blocks to regulate time in space and the one that everybody

Knows is the issuance of new Bitcoin per block is cut in half every 210,000 blocks AKA 4 years so it’s a regulation of energy space and time 10minute blocks 14-day adjustments for your cycle

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Bitcoin has a fundamental exchange rate and a financial exchange rate let me show you the differences between the two everyone and their grandma has heard about the Bitcoin to dollar price but not so many people understand the Bitcoin to kilo price this is where bitcoin’s value comes in you can think

Of them as production and consumption and that is that with producing Bitcoin AKA mining it’s the consumption of electricity through a computer to produce your Bitcoin buying is the consumption of your dollars through an exchange to purchase your Bitcoin when you produce Bitcoin you get it at a

Lower rate to the market it’s the same as when you mine gold the typical Gold Miner spends $1,000 processing Rock to get his ounce of gold versus buying that same ounce of gold for $2,000 on the market Bitcoin is no different you can produce it yourself or buy it at a

Premium on the market for