Gen Z Bitcoiners | Hashpower Academy

Video Transcript:

so I found out the other day that I’m not a millennial but in fact gen Z which was quite a surprise because I thought that the 2000 was the cut off when actually 97 is the cut off for the start of the genz group and the finish of the millennial group being the Millennium but it’s not it’s 97 and yeah I just thought about the the different age groups and their perceptions of digital value for example I grew up half outside sort of childhood playing outside riding my bike and all those sorts of things but the other half of my childhood was completely digitally immersed growing up on the Internet essentially whether it was Minecraft and League of Legends and all these other sorts of things where I could assign value to something digital uh tokens in-game currencies skins all these sorts of things represent um different expressions of people well expressing themselves um through the internet confidence expressed through Discord and all these sorts of things um but the problem there is is we do live in the real world the physical world and the internet is a communication system in a sense but we’ve we’ve built so much technology around this communication system um that it’s actually made us disconnected in our communication on the physical side of things and that’s not a good thing but there is good Solutions in the future and that is to say that although Bitcoin is natively digital its physical attributes actually are going to help because culture right now is very much based on money society as a whole and structure of it and how we spend what we spend well just look at the world buy now pay later it’s consume make consumption as easy as possible with the consequences pushed into the future with debt and that’s what we have a debt-based money system and the struggle with that is well it pushes the responsibilities way in the future um with ever increas ever increasing consequences and the debt trap of many credit cards and just easy credit money just allows us to hyper consume hypers scroll and it’s just not healthy and our lack of connection to the physical world is just is only going to hurt us in terms of well the now gen Z approach to things um but the Bitcoin conversation comes in here which is that we now have a money that can reconnect us back to the energy cost of our time and energy because the government can print money money for free it’s money money is a database with Goods Services production consumption all balanced on either side and that balance is sustained through prices supply and demand and when more units that can consume enter into circulation at the Press of a button at a cost of nothing to produce well that introduces a problem a problem of which money that costs nothing to produce can buy everything that costs everything to produce so if you produce units for free in a game and any person that’s played a game and managed to cheat the system to buy a load of stuff they just ruin the economy of the game and it’s the same with our economy now um buying a chocolate bar 20 years ago versus buying it today it’s a lot more expensive and the reason why is the chocolate bar didn’t change the energy cost to produce it may have changed but the cost of buying it is a greater quantity of pounds or dollars or Euros because there’s more currency in circulation and there’s just a complete disconnect between the farmer that grew the cocoa uh the ship that transported it to whichever country it got refined into a chocolate bar or whatever else there’s a disconnection between the energy consequences of everything in society having a cost to produce and your ability to work being derived in time and energy for a contract that signs you into a quantity of money well every time they inflate the money supply they steal our time and energy and what we need is a currency system that reconnects us back to the physical world which is a digital form of money that we can assign value to but it gives us a connection back to the physical world because the money itself has a cost to produce excess electricity getting consumed in mining machines to produce compute power which protects everything that’s stored and producing in blocks of Bitcoin and the blit the Bitcoin is the data money stored in the blockchain and yeah I feel that that connection back to the energy side of things will realign Society in a way that um our purchasing power is preserved we’re not constantly worried about today when we have a money that preserves into the future so we can think about tomorrow and yeah I there’s an aspect of good money in a society helping to form a good society and that’s historically precedent if you study the history of money all the different pieces of history that had hard money Society was doing pretty well it was when the currencies started getting inflated well you soon see a war and then some reset of a financial architecture just look at World War II and one and before that and there’s so much to this but I I do invite anyone and everyone to take an effort to learn about Bitcoin learn about its physical side learn about the digital side learn how it all connects with compute power which has the parallel to AI as well because AI is going to use Bitcoin because Bitcoin is censorship resistant money enemies can trade hackers can preserve their money without it being taken from them that just goes to show that it’s the best form and it’s not for the bad side it’s the fact that anyone and everyone can use it and it makes it neutral and when it’s neutral it means it’s in Balance thank you for listening I hope this was a different sort of video but um insightful in some ways I hope thank you for listening goodbye