As we transition from the physical intricacies of the global network of mining hardware and the warmth they produce, we step into the limitless realm of cyberspace. This digital dimension houses a vast expanse of data, memories, videos, photos, and myriad digital transactions that move like whispers, effortlessly traversing the globe.
For Bitcoin, the journey began with a simple yet revolutionary premise: leveraging this vast domain to record and authenticate financial transactions.
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🟧 Additional Resources:
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Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] the best defense is a good offense what do I mean by this well you’ve just learned so far that cryptography is used as a Def defensive mechanism so that we can all transact freely without any interference so I can broadcast that I want to send some Bitcoin but that transaction it goes into a pool of transactions saying hey these are verified transactions that want to be put in a block now here’s the interesting thing the block is encrypted it’s not decrypted it’s encrypted and so it’s a jumble of text and a number of zeros and that number of zeros is what Bitcoin miners are trying to find with all their electricity turning into hash power that hash power is actively looking to break the encryption of that block and when the miner finds that block they earn the reward they earn the transaction fees that they put in that block and they earn the subsidy of that transaction so Bitcoin is an amazing Network that uses cryptography both to defend wallets logically and people use energy to attack the network as its defense it’s a weird conundrum of paradoxical concept but what it means is that Bitcoin has a logical protection layer and a physical energy protection layer around it as well so we can freely transact and what this turns out to be is the best physical analogy would be would you rob a bank that had half a million in the vault but it cost you a million to break break into the Vault that’s how secure bitcoin’s network is that it would cost you more to break in than what you could actually extract out so it makes it pointless the best attack on bitcoin is to just find the next block in the chain you earn the reward and so it’s a reward mechanism for people that want to participate in protecting the network instead of attacking [Music] it [Music]
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What % of your INCOME goes to energy BILLS! #heat #subsidy #freedom #heatbit #education
Youtube ShortsVideo Transcript
What percentage of your income is right now going to utility bills like electricity the price of energy is what determines the freedoms or frictions of society the cheaper the price the cheaper is to drive the cheaper is to fly the cheaper it is to grow food in hinted greenh houses Energy prices
Determine so much within our society and so if you want to heat your home and potentially be subsidized for some of that cost I think big Bitcoin might have the answer for you Bitcoin mining is typically profit driven that is they buy the electricity cheap say 5 cents a
Kilowatt and they want to mine it into say 15 cents of Bitcoin per kilowatt and so that would be a profit of 10 cents but the old machines they only become valuable for their heat and so there’s different markets out there for buying electric heaters that also mine Bitcoin
So you get your heat but you also get a subsidized cost of electricity
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HEAT | Bitcoin Business Case Study | pt2 #farming #hashing #circulareconomy #btc #mining
Youtube ShortsVideo Transcript
This is a very interesting Bitcoin business case study he’s farming in the physical world and he’s farming in the digital world as a circular economy let me explain so the successful factors of farming which is highly competitive is that he’s going to need a lot of heat to
Keep his green houses warm to optimally grow the crops at the best rate the more crops he sells the more money he makes on the left the output the waste of mining Bitcoin is heat from the electricity so this farmer already needs electricity to make heat to warm his
Greenh houses but instead of just producing heat he runs the electricity through these computers so he creates one income stream for mining Bitcoin liquid he can sell it on the internet if he needs the money and he’s also growing produce in the physical world which needs that heat so it creates a circular
Economy of cost sharing the energy that is Energy Efficiency in a Bitcoin standard
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Mining vs Buying | #bitcoin #education
Youtube ShortsMining vs Buying | Bitcoin
#analysis #education #bitcoin #hashrate #hashpower #crypto #mining
https://hashpower.academy/the-economics-of-bitcoin-mining/
Video Transcript
There is two direct ways to acquire Bitcoin you either convert electricity into Bitcoin or you convert dollars into Bitcoin that is mining versus buying the original founder of Bitcoin Satoshi Nakamoto he didn’t buy his Bitcoin on an exchange he produced it himself mining is the original onr into Bitcoin and
Buying is the one that everyone just uses now for Simplicity let me take you through the nuances of both options what you see in front of you is a break even analysis comparing quantity of Bitcoin over time when you buy a Bitcoin say one Bitcoin you’ve got all 100% of
It and over time that one Bitcoin doesn’t change but what if you mine Bitcoin you purchased one bitcoin’s worth of mining machines and your goal would be to reach that one Bitcoin Target if you mined more than one Bitcoin it means that mining was more profitable than buying over time
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How to shutdown Bitcoin #shutdown #btc #impossible #education
Youtube ShortsIs even possible to shut down #bitcoin ? | #shutdown #btc #impossible #education
Video Transcript
Is it possible to shut down Bitcoin entirely and shut down the entire network well let’s find out Bitcoin is the people’s money which is data stored in nodes which is updated through the internet by hash power which is produced on mining Farms with hardware and those Hardware are all plugged into the
Electricity grids and off- grid as well and all of that power comes from energy producers to get rid of Bitcoin you would have to dismantle all six pieces you would have to stop the political power of people holding Bitcoin destroy every computer that stores the files destroy all internet connections between these
Computers destroy all the mining Hardware dismantle the electricity grids and switch off all of our power production you would have to switch off humanity and all the civilizational infrastructure as a whole I don’t think it’s happening Bitcoin is forever but
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The 2 worlds of Bitcoin | Physical & Digital
Youtube ShortsBitcoin, the first decentralized digital currency, straddles two worlds – physical and digital. In the digital realm, transactions occur through blockchain tech, ensuring security and transparency. Physically, Bitcoin can exist as coins or tokens, representing the digital currency’s value tangibly. This duality highlights Bitcoin’s appeal, bridging the virtual and physical realms.
#education #bitcoin #mining #hashpower
Video Transcript
Everybody understands Bitcoin as a digital asset but it actually has two worlds the physical world and the digital world let me show you Bitcoin the currency on the Internet is simply data and that data is updated every 10 minutes by hash power and that hash power is produced in the physical world
By mining Hardware which is kept online with electricity and that electricity is coming from all of our different energy sources of the world and so the physical half of the network is our production of energy electricity and Mining Hardware the digital side the digital Bridge Is hash power and hash power updates the
Blockchain to produce Bitcoin it’s a circular energy economy with two worlds physical and digital there’s also two ways to get your Bitcoin you either mine it in the physical world or buy it in the digital world
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HEAT: Bitcoin Business Case Study: pt1 #energy #efficiency #nyc #mining
Youtube ShortsInnovative Bitcoin Heating Solution in NYC!
Location: Heart of New York City
What’s Unique: A bathhouse using $20,000/month to heat pools differently.
The Twist: Instead of traditional heating, they mine Bitcoin!
How It Works:
Energy Use: Same as regular heating, but smarter.
Process: Electricity Microchips Mine Bitcoin Heat transfers to the pool.
Benefits:
Dual Revenue: Warm pools + Bitcoin income.
Energy Efficient: Combines two cost-sharing systems.
Competitive Edge: Lower rates for customers thanks to extra income.
Learn More: Dive into the world of Bitcoin businesses with Hashpower Academy.
#BitcoinHeating #Innovation #HashpowerAcademy
Video Transcript
Bitcoin businesses part one this is a New York City bath house that spends $20,000 a month heating this pool but instead of running the electricity to heat the pool through coils he run the electricity through microchips it’s the same energy the same Energy bill but the difference is if you run the energy
Through microchips to mine Bitcoin money and then the heat gets expended into immersion fluid and then transferred into the water that means that he’s created two revenue streams a way for his customers to enjoy the warm water of the pools but also a secondary Revenue stream of Bitcoin it’s Energy Efficiency
Because he combined two systems that cost shared the energy that is Energy Efficiency and it allows him to be competitive he could offer lower rates to his customers than his competitors because he has a secondary income stream into his business that is the Bitcoin business way
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The 3 core commodities of the BTC Network: #electricity #hashpower #bitcoin
Youtube ShortsWe aim to outline the three fundamental commodities of the Bitcoin Network:
#electricity #hashpower #bitcoin
For more details, join our free course and portal!
https://hashpower.academy/courses/bitcoin-big-picture-basics/
Video Transcript
Bitcoin itself is not the only commodity within the network there’s three let me show you we produce electricity consume that electricity in machines to produce hash power hash power finds blocks of Bitcoin data and that data we call Bitcoin the commodity and so the three core Commodities are electricity hash power and
Bitcoin and so this flow of these three Three core Commodities electricity hash power and Bitcoin they also have metrics let me show you each one of these Commodities has a conversion metric mining Hardware is valued based on its efficiency which is its watts per terahash ratio how much electrical cost
It can convert into hash power which produces Bitcoin per terahash per day this one is Hash price
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Bitcoin explained in under 60 seconds | #bitcoin #education
Youtube ShortsIf 60 seconds are not enough, check the free @HashpowerAcademy bitcoin course!
https://hashpower.academy/courses/bitcoin-big-picture-basics/
#bitcoin #network #education
Video Transcript
Let’s see if I can explain the Bitcoin Network to you in under 60 seconds are you ready let’s go whether you’re on the side of religion or science they all start with the same story something to do with energy and that is the production of energy is our civilizational infrastructure that is
The production of electricity and in the 21st century we all use electricity it’s extremely important and we’re moving everything on to an electricity standard but what if we have excess electricity well we could consume it in computers to produce heat to warm our homes or green houses but they also produce this
Digital commodity called hash power and hash power is simply compute power that is specific to mining blocks of Bitcoin on the blockchain and the blockchain all it does is store data and that data is financial data we call Bitcoin a monetary unit based on the energy sector
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What’s inside a bitcoin BLOCK? #halving #hashrate
Youtube Shorts#fees #subsidy #halving #hashrate
What exactly is inside a bitcoin block?
Video Transcript
So in today’s ad hoc video what is inside a Bitcoin block every new block of Bitcoin issues 6.25 new Bitcoin and obviously people transacting they pay fees and so it’s Bitcoin already in circulation so that makes the two parts of the block the new supply of Bitcoin and new transactions
Being made on the network cuz all Bitcoin is is data this 6 .25 new Bitcoin per block every 10 minutes in April is going to get cut in half to 3.125 so 3.125 Bitcoin plus transaction fees will be the new value in each block and this will happen every four years it
Gets cut in half all the way to no new Bitcoin being issued and which means all 21 million Bitcoin will have been mind and none of us will be alive to experience it
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Bitcoin Course | Big Picture Basics 3.2 – Efficiency & Cooling Systems
Youtube Videos“Those most efficient with their energy, will account the most sats”
The evolutionary journey of Bitcoin mining paints a vivid picture of the relentless drive towards efficiency. It all began with regular computer CPUs, which miners used in the nascent stages of Bitcoin’s development. However, as the network’s complexity and the mining competition surged, the CPU’s limitations became apparent. Soon, GPUs stepped into the limelight, offering greater computational prowess.
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https://satoshisea.io
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Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] there is a golden rule in earning the most amount of Bitcoin possible and that Golden Rule is those of you who are most efficient with your energy resources will account the most amount of Bitcoin what do I mean by this well mining machines sit on the bridge between the electrical physical world of Bitcoin and the cyberspace information world of Bitcoin which is the compute power and that’s exactly what mining machines do they convert electricity into hash power and that conversion is different in different machines so at the beginning of bitcoin’s history 15 years ago you just needed a laptop where you could do a few a few thousand calculations per second but the latest machines they do 100 trillion calculations per second a very huge jump and what’s caused that is constant research and development into chip technology to make the machines faster and faster because you want to be converting your electrical cost into hash power which produces you Bitcoin as revenue and so the second part of that is the calling systems different miners have use different systems to remove that heat because if the machine gets too hot it starts producing less hash power which means less revenue and so you don’t want your cost to be really high and you want your Revenue to be really low have you ever been on the computer wondering to yourself why is it so slow why is it making so much noise and you’ve got 20 tabs open in your browser and five applications running that’s probably the answer and so mining machines are absolutely no different if they get too hot they underperform and so you need an effective cooling system to make sure that air is blowing through the system to remove the Heat and so new technologies have been developed such as immersion and hydro which both act as a system of ing the machine in a liquid and removing the heat through the liquid and cycling back cool liquid into the [Music] system
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Bitcoin Course | Big Picture Basics 3.4 – Decentralized Opportunity
Youtube VideosInstead of a concentrated rush to a specific location, the allure of Bitcoin beckons from every corner of the world. This mining doesn’t feed on energy but monetizes the excess within our physical realm, storing its value digitally. Through this, Bitcoin forges relationships across diverse sectors like carbon accounting for a greener future, electricity stability and management ensuring a balanced grid, and the creation of heat for countless applications ranging from agriculture to residential warming.
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Share your thoughts and questions in the comments.
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https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
—————————
Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] everyone wants a good life everyone wants a meaningful life that brings them prosperity and abundance and opportunity and so this SE s about a saying that I’ve thought about which is humans vote with their feet seeking energy abundance and that is shown throughout all of history people looked for the best soil to grow the best crops hunt in the best forests fish in the best rivers and so small villages towns and even cities have been developed as such think about California in the 1800s people rushed to extract this natural gold wealth out of the ground and in that process people moved in to create other businesses and little small circular economies to which economic powerhouses such as California have developed up to today and that has moved into the financial world of things with the concept of money that cities such as New York have such an attraction for people wanting to find financial prosperity by moving there and so we have this Society that’s built around this concentration of wealth in these specific pockets of the world but that’s going to change Bitcoin as a network is decentrally looking all over the world people that mine Bitcoin are actively looking for where energy abundance could be found and so those small circular economies of trading in heat in electricity and even carbon Credit Systems will mean that Bitcoin miners create local energy opportunities jobs businesses that are built around this production of Bitcoin as a process and so what we could see as the world going forward is potentially new cities and New Towns being built in in a decentralized way across the world so we don’t have these huge Central cities but more of a decentralized layer where we all agree to the Bitcoin Network consensus it’s a really interesting concept that I believe that people should look at a lot [Music] more [Music]
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Bitcoin Course | Big Picture Basics 3.1 – Mining Basics
Youtube Videos“Buy the corn or grow the corn”
The strength or capability of each miner is denoted by its hashpower, often expressed in terms of $/TH (Dollars per Terahash). This price point isn’t arbitrary. A miner’s efficiency – its ability to turn electricity into Bitcoin – directly impacts its market value. An optimally efficient machine can take 1 kWh of electricity and generate a more significant Bitcoin amount compared to its less efficient counterparts.
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Subscribe to Hashpower Academy for more educational videos.
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👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
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Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] welcome to module three of the big picture Basics this is where we discuss the physical side of Bitcoin mining in module 4 we’ll talk about the digital side but let’s start with the physical so to recap we in module one discussed the generation of electricity module 2 was the transfer of that electricity through our physical networks the grid and so Bitcoin mining Hardware what is it what does it do why do people buy it well the short answer is why would you pay the market price for Bitcoin if you could produce your own with electricity at a lower price and so that’s essentially what a Bitcoin miner does he builds a farm to grow his own [Music] Bitcoin
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Bitcoin Course | Big Picture Basics 3.3 – Commodity & Heat
Youtube Videos“One man’s trash is another man’s electronic cash.”
We’ve traced the journey of the electron: from its birth in power generation facilities, through the intricate pathways of electricity distribution networks, to its vital task in driving microchips to perform trillions of calculations every second. At the end of this cycle, the energy that once coursed as an electron manifests as heat. For many miners, this heat used to be simply vented out as a by-product, but a paradigm shift is now recognizing its valuable economic potential.
Free Course Full Lesson https://hashpower.academy/lessons/3-hardware-heat/
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Share your thoughts and questions in the comments.
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Subscribe to Hashpower Academy for more educational videos.
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👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
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Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] one man’s trash is another man’s electronic cash what do we mean by this well in the world over 50% of our global energy needs are for heat just for heat whether it’s heating your home for your boiler for your hot water or heating your pool or in the agricultural sector they use heat in the green houses to make sure that the crops grow proficiently and countless other applications all around the world and so we’ve got this huge Bitcoin Network physical infrastructure with computers that produce heat as a waste so you fuse these two industries Al together you could have a an electric heater at home that pays you every time you turn it on wouldn’t that be something interesting and so mining machines sit as this physical asset that could be placed in all different locations to make sure that people are cost sharing electricity because energy bills are getting pretty insane at the moment and so we need have to have efficient cost sharing Technologies to make sure that we develop little energy economies that have Sy iotic relationships and that’s the future of Bitcoin in the physical [Music] world
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Bitcoin Course | Big Picture Basics – Lesson 4 – Networks & Hashpower
Youtube VideosFree Course Full Lesson https://hashpower.academy/lessons/4-networks-hashpower/
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Share your thoughts and questions in the comments.
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Discover more at https://hashpower.academy/
👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
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Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] well we are now halfway through the big picture basics in which module 1 to 3 took us through the concepts of the physical side of bitcoin’s network and we went through it in order of producing energy transferring on our grids consuming it in mining machines and those machines produce hash power which delves into the digital side of things hash power is what updates the blockchain module 5 and on the blockchain is where we store all of our transactions and financial information and all the contracts and agreements that we make with each other and module 6 being Bitcoin as money and all of the topics that that contains now now one of the most important things to understand about the digital side of Bitcoin is that it’s very paradoxical and what I mean by that is what you think might be the answer is actually completely opposite to the truth and that’s the way it just works but it’s really interesting so I hope you [Music] enjoy
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Bitcoin Course | Big Picture Basics 6.3 – Sats per kWh (pt1)
Youtube VideosFree Course Full Lesson https://hashpower.academy/lessons/6-finance-bitcoin/
🤝 Connect With Us:
Share your thoughts and questions in the comments.
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Subscribe to Hashpower Academy for more educational videos.
Discover more at https://hashpower.academy/
👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
—————————
Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] is Bitcoin digital gold no is Bitcoin digital cash no Bitcoin is electronic cash because it has electron value its purchasing power is literal because you can purchase power with Bitcoin what do I mean by this well everyone has an extreme focus on the Bitcoin to dollar price or Bitcoin to any fiat currency for the matter and so what that does is people are comparing a currency Fiat that has no intrinsic value to a Curr currency with intrinsic value and so that is a complete mispricing of the truth the truth is found in the production with energy that a Bitcoin miner converts a quantity of electricity into a quantity of Bitcoin and that is a direct comparison what that does is it sets a global decentralized energy price how on Earth does it do that well as we’ve discussed the the Bitcoin miners they will stop mining Bitcoin to sell the energy if they can earn more Bitcoin than what they could produce and that is the Arbitrage you cannot do that with gold nobody’s coming along to buy a load of rock that has some ounce of gold value in it the Bitcoin is reversible because if you wanted to pay the miner for their electricity what price would they want well if they could produce a Bitcoin that day how much would they sell their electricity for one Bitcoin and that’s exactly what that rate is that it’s not just the rate of producing Bitcoin but like cash and gold stored in a vault that Bitcoin is redeemable for the electricity used in the production of Bitcoin and so it creates a circular economy of producing and consuming and spending the currency Bitcoin is electronic cash because it’s redeemable for electricity itself and this opens up an entirely new world of energy economies that you’ll learn [Music] next
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Bitcoin Course | Big Picture Basics 4.3 – Cryptography pt2
Youtube VideosAs we transition from the physical intricacies of the global network of mining hardware and the warmth they produce, we step into the limitless realm of cyberspace. This digital dimension houses a vast expanse of data, memories, videos, photos, and myriad digital transactions that move like whispers, effortlessly traversing the globe.
For Bitcoin, the journey began with a simple yet revolutionary premise: leveraging this vast domain to record and authenticate financial transactions.
Free Course Full Lesson https://hashpower.academy/lessons/4-networks-hashpower/
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🤝 Connect With Us:
Share your thoughts and questions in the comments.
We value your input!
Subscribe to Hashpower Academy for more educational videos.
Discover more at https://hashpower.academy/
👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
—————————
Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] the best defense is a good offense what do I mean by this well you’ve just learned so far that cryptography is used as a Def defensive mechanism so that we can all transact freely without any interference so I can broadcast that I want to send some Bitcoin but that transaction it goes into a pool of transactions saying hey these are verified transactions that want to be put in a block now here’s the interesting thing the block is encrypted it’s not decrypted it’s encrypted and so it’s a jumble of text and a number of zeros and that number of zeros is what Bitcoin miners are trying to find with all their electricity turning into hash power that hash power is actively looking to break the encryption of that block and when the miner finds that block they earn the reward they earn the transaction fees that they put in that block and they earn the subsidy of that transaction so Bitcoin is an amazing Network that uses cryptography both to defend wallets logically and people use energy to attack the network as its defense it’s a weird conundrum of paradoxical concept but what it means is that Bitcoin has a logical protection layer and a physical energy protection layer around it as well so we can freely transact and what this turns out to be is the best physical analogy would be would you rob a bank that had half a million in the vault but it cost you a million to break break into the Vault that’s how secure bitcoin’s network is that it would cost you more to break in than what you could actually extract out so it makes it pointless the best attack on bitcoin is to just find the next block in the chain you earn the reward and so it’s a reward mechanism for people that want to participate in protecting the network instead of attacking [Music] it [Music]
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Bitcoin Course | Big Picture Basics 4.4 – Commodity Hashpower pt2
Youtube VideosAs we transition from the physical intricacies of the global network of mining hardware and the warmth they produce, we step into the limitless realm of cyberspace. This digital dimension houses a vast expanse of data, memories, videos, photos, and myriad digital transactions that move like whispers, effortlessly traversing the globe.
For Bitcoin, the journey began with a simple yet revolutionary premise: leveraging this vast domain to record and authenticate financial transactions.
Free Course Full Lesson https://hashpower.academy/lessons/4-networks-hashpower/
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Share your thoughts and questions in the comments.
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Subscribe to Hashpower Academy for more educational videos.
Discover more at https://hashpower.academy/
👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
—————————
Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] to understand a bit about the economics of hash power is that well every Miner is trying to produce as much hash power as they can with their computers and the cost of their electricity because if you’re producing 1% of the global Network hash power you’re going to approximately earn 1% of the global Network transaction fees and so the economics and the economic value behind hash power is that your individual contribution versus the network is also the amount of Bitcoin you’re going to earn and that economic stream of value of Bitcoin is what gives hash power its value so if bitcoin’s price is really high and there’s lots of transactions happening on the network hash power earns you more Bitcoin and so the machines are higher priced if there’s less transactions on the network and or there’s a really low price in Bitcoin hash power earns less and so what you find is that hash power as an asset Rises and Falls similar to bitcoin’s price there’s a few other aspects that we will discuss in further modules as to how these changes happen but that’s the understanding of the economics behind hash power is that it’s produced and purchased from the physical world of computers but it has an economic value to the digital world and an economic security to protecting the digital Ledger of of [Music] assets [Music]
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Bitcoin Course | Big Picture Basics 5.1 – Commodity: Data
Youtube VideosFree Course Full Lesson https://hashpower.academy/lessons/5-blockchain-data/
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🤝 Connect With Us:
Share your thoughts and questions in the comments.
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👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
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Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] welcome to module 5 blockchain and data and so what is the blockchain it’s a keyword that’s thrown around all the time with all different things and technological innovations but blockchain can be boiled down so it’s just record keeping technology it’s a way of storing information in a way that countless people the nodes have a record a copy of the same transactions and that’s what the original use case of the blockchain was it was a recordkeeping of all of our transactions made in Bitcoin but over time different types of files have been put on chain such as images and contracts and code and all other different pieces of information that people want to store online forever and that’s what the amazing thing about bitcoin’s blockchain is is because there is countless thousands of people out there storing this information it perpetually stays online forever and so we now have a database distributed around the world that record keeps all of the information on chain forever a database that is untampered because the only people that can put the data into the database are the miners so you need physical electricity to update the information as the old saying goes knowledge is power and so we now have a public way of all coming together to collectively store information historically forever and the next question comes well how do we store that information that’ll be the next [Music] section
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Bitcoin Course | Big Picture Basics 4.4 – Commodity Hashpower pt1
Youtube VideosAs we transition from the physical intricacies of the global network of mining hardware and the warmth they produce, we step into the limitless realm of cyberspace. This digital dimension houses a vast expanse of data, memories, videos, photos, and myriad digital transactions that move like whispers, effortlessly traversing the globe.
For Bitcoin, the journey began with a simple yet revolutionary premise: leveraging this vast domain to record and authenticate financial transactions.
Free Course Full Lesson https://hashpower.academy/lessons/4-networks-hashpower/
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🤝 Connect With Us:
Share your thoughts and questions in the comments.
We value your input!
Subscribe to Hashpower Academy for more educational videos.
Discover more at https://hashpower.academy/
👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
—————————
Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] [Music] hash power hash power is the secret source of Bitcoin and what I mean by that is Bitcoin is a digital asset in the digital world but it’s connected to the physical world because of hash power hash power is produced by computers and electricity it abides by the laws of physics and what it does is it is the only thing that can update the digital ledger so physical electricity is the only thing that can update bitcoin’s digital Ledger and that connection between the two the connection between our physical world of energy and our Digital World of finance and data is what makes hash power so interesting as a commodity in [Music] itself
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Bitcoin Course | Big Picture Basics 6.1 – Bitcoin As Money pt2
Youtube VideosImagine money that appreciates in value, that can be sent across the globe in seconds, that’s transparent with absolute scarcity and defended both physically & logically with cryptography by an entire network of computers across the planet… that’s Bitcoin.
Watch Part 1: https://bit.ly/6-1-bitcoin-as-money-part2
Free Course Full Lesson https://hashpower.academy/lessons/6-finance-bitcoin/
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🤝 Connect With Us:
Share your thoughts and questions in the comments.
We value your input!
Subscribe to Hashpower Academy for more educational videos.
Discover more at https://hashpower.academy/
👤 Your Educator – Jake Scanlan
https://www.jakescanlan.com
🟧 Additional Resources:
https://hashpower.academy/
https://terahash.co.uk
https://satoshisea.io
—————————
Financial Disclaimer:
This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.
Video Transcript:
[Music] one of the things that disrupts our money the most is technology we used things such as salt because they were valuable to everybody would if someone developed a technology that allowed you to Produce Salt in a much more effective way and that’s where we used things such as gold and metal money because they were scarce and so technology couldn’t disrupt the production process of finding as much gold as possible but that also brings us into the next form of money as as much as gold is a really good money and has been for thousands of years the one thing it can’t do is move around really quickly and so what we did as humans was put gold in a vault trust somebody to look after it and we were issued a voucher or a token something of a piece of paper to reference that gold that the value of that paper was not the value itself but that we could go and collect gold with that piece of paper and that’s where the next issue of money comes which is trust that how do you know that your piece of paper can redeem something and that’s where our paper money evolved from is we are all using pieces of paper that should redeem something of value underneath but in the ‘ 70s that changed gold was removed from the money system and now we’re just trading coupons cinema tickets without Cinema even existing and that’s where the next issue becomes with in a central system such as a bank they have one copy off this big transaction list of who owns what in Bitcoin system it’s a centralized Network where everyone has a copy of the same transactions and we can work things backwards what is the intrinsic value of Bitcoin its electricity can you think of anything more important to the 21st century to every human on this planet than electricity and the production of Bitcoin is it scarce yes it’s in fixed Supply and so Bitcoin has taken all of the history of money picked the best parts and is designed around to serve and the more we design technology to produce Bitcoin in a better way is more innovation of our energy and the more we innovate with energy the more prosperous we are with Society but Bitcoin as money itself still pertains to be part of our financial system how does loans work how does lending work how does all sorts of asset purchasing such as property work that’s what we’ll discuss [Music] next
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