Is Bitcoin a Distraction?!? [Send to a Non-BTC Friend] | Hashpower Academy

Video Transcript:

hello there and welcome to the Hashpower Academy my name is Jake Scandlin and I have a question for you is Bitcoin a distraction now this is something that could be directed at someone that you know that if if you’ve received this video and you’re not interested in Bitcoin well hello and welcome and if you’re a Bitcoiner and you really are having that question of well is it right to be focusing on Bitcoin so much should I be focusing on something else because that’s essentially the definition of distraction distraction is uh when your attention is diverted away from something else now what could that else other be and the struggle there is well Bitcoin isn’t just some internet money it’s a system of vertically or circular integrating our energy sector you know how everything is produced in society um computers and microchips how everyone lives in society the internet and fast laptops computers tablets tablets and phones you name it and then a secure storage system for all of our transaction information when you send or receive money that’s a piece of information it’s just a database of numbers ones and zeros moving around between different accounts whether it’s a bank whether it’s a Bitcoin wallet it’s all the same but the key differences that well there’s problems in society and the daytoday that people are concerned about are completely valid you’re trying to make ends meet you’re trying to earn money you’re trying to pay your bills your mortgage and everything else of the debt money system and I’m sure you’ve heard these sorts of things as well if you’ve got a Bitcoin partner friend family member but the key thing is this that Bitcoin is looking underneath all of the problems to build a different sort of foundation and if your ears are already closed up then I’m sorry but there’s there’s this key approach to Bitcoin is where we are truth seeking we are asking the questions that need to be asked house prices are they the problem does everyone need a house everyone wants a house so is it the house that’s the problem or is it the price of the house that’s the problem okay so it’s something to do with money food prices we all need food um the price keeps going up so is it the food that’s the problem or the other side of that trade the money and when you start going well hang on why are food prices so high why are house prices so high ah it’s because if you store your time and energy in the money it buys you less over time so the quantity in your bank account can stay the same but the amount that that money buys you when you finally exchange it out into actual real world goods services and resources it buys you less so somewhere between the time and energy that you went to work got up early and broke your back to earn this quantity of database units on in an account that by the time you converted that back into real world things that adhere to time and energy and a cost to produce that some of it disappeared that’s the bit that Bitcoiners are like we need a system where you go to work convert your time and energy into a quantity of money it preserves its underlying time and energy to produce and this is where Bitcoiners step in we’re asking those questions of why is our financial system not fit for purpose why can’t I live like the way my parents or grandparents lived where one salary paid for an entire family of four to live go on maybe one holiday a year save up for different things and enjoy life why is why does the money in between money is 50% of every transaction why is that that that that piece is the problem that’s just at the Bitcoin level but you’ve also got these other levels to Bitcoin which isn’t opinion it isn’t thoughtful fingers crossed dreams of the future of what the future price of Bitcoin is in dollars or whatever else it’s it’s a currency system produced from electricity run through computers to produce blocks of data with a cost to produce so it’s a form of money based on energy and these are the sorts of pieces which create a digital equivalent of money that have a physical connection to the real world so if you’re a farmer is it fair that the government can print money for free for free press a button boop numbers in the account and purchase something that has a cost to produce that adheres to the laws of physics a farmer has to spend half the year 3/4 of the year tending to his crops adhering to time and energy to grow his produce and sell it on the market the government comes along presses a button and can purchase those goods and services that is theft through and through and the difference between these two worlds is Bitcoin introduces a form of money with a cost to produce so it’s digital we live in the digital world it’s scarce it’s fixed in supply all of these different words you may have heard and then that key thing it has a direct alignment to how everything else in society works everything else has a cost to produce you only survive because you put food energy into your body to survive the car only moves because you put energy into it the plane ticket is based on the price of energy everything the the universal currency of this entire universe is energy nothing moves lives breathes walks talks sound energy and are those a distraction i’ve uh got a bit detracted I would say but yeah are those a distraction well uh think of it like this if a person is on the path of learning ecology energy economics hardware software computing the blockchain there’s so many different topics humanities finance economics game theory if someone is actively seeking a broad picture of different knowledge in different areas different subjects and a currency system that integrates it all together if that’s not a person you want to be around I don’t know um but it’s it’s it comes back to that initial thing of the problems that that once you pierce the veil and ask those questions if you’re not comfortable with the truth then the the the world that we’re going into is not going to reward you financially and this is because we’re going toward we we’re in a world of abstract lies the amount of people that that promote this perfect image on Instagram versus the factual reality of their life being quite different the fakeness in society the the disgruntled unhappy despair in the young people that would rather just plug themselves into a video game on the internet than actually face the world that’s what we’re addressed with this mismatch between expectation and reality in life and the only path the only way the pendulum swings is towards truth a form of money with a cost to produce that has direct alignment with everything else in society and if that’s not something to aspire to yes it could be a bit obsessive to those that the first 1% people that truly understand it but the true path of Bitcoin is to come to a point where it’s omniresent it’s everywhere which it already is wherever the internet is there’s Bitcoin wherever there where wherever there’s cheap abundant energy there’s Bitcoin mining and uh that abundance between the digital world and local energy world the input to everything is energy and the output to everything is money and we just live in the boundary layer between these two worlds and all of these sorts of pieces are very important to learn because that’s the world we are going into um I see it from a maths and physics perspective with the finance piece on top i’ve drawn an iceberg because the majority of the world understand Bitcoin as just this financial component and a few keywords related to the blockchain the the 1% of the world that have purchased Bitcoin then you got the 1% of that 1% that actually delve into understanding the layers and these are all the different wise the the why why do we need a money where they cost to produce in energy well it changes us away from a system of trust as in right now credit I think credit literally in Latin means like to to trust trust payment in the future or something like that and uh do you trust the government to pay you something back i don’t um well the money’s not backed by anything and if you can’t address those sorts of questions uh open-minded um yeah we’re shifting into a world that’s focused on truth truth seekers that’s Bitcoiners they are truth seekers uh truth of the money true to themselves true to their health true to their prosperity of their loved ones family friends going into the future uh I don’t think I’ve fully answered that is Bitcoin a distraction but the short answer is no it’s the the first piercing of the veil into the world that we’re going into we live in the information age where everything depends on electricity and the internet and Bitcoin is simply the boundary layer of communication between these two worlds thank you for listening i hope you enjoy and uh if you are new to this sort of content well all the other stuff on the channel is going more into the interesting maths and physics but taught in a uh interestingformational way which is not too technical and complicated but has to introduce all those subjects piece by piece thank you for listening hope you enjoy and I’ll see you in the next one goodbye