Is Bitcoin going to the Moon!? | Hashpower Academy

Video Transcript:

so you might have heard that Bitcoin is going to the moon now that is an interesting proposition and I’m not talking about price because looking at the dollarized price of Bitcoin is comparing something backed by the promise of a government that used to be well dollars used to be pegged to something that you could redeem such as gold but that is no more so the currency is now pegged to the pricing of everything that’s contracted in it such as our time and energy employment contracts um energy resources and that’s an interesting direction to go that Bitcoin in of itself is a currency which is based on the production of electricity and that excess energy being monetized into compute power into Bitcoin so a currency that is backed by electricity as its fundamental input and when you actually structure the entire Bitcoin Network you get this chain of events you’ve got the blockchain where Bitcoin comes from you’ve got hash power that produces Bitcoin mining machines that produce the hash power and underneath that we have electricity got electricity and some form of source for producing it such as solar which is only helpful in the day and so you’ve got this entire vertical stack of energy Technology Energy commodity compute technology compute commodity blockchain and what it manages the data money called Bitcoin data money and across this entire stack I’d like to offer you a different perspective as to going to the Moon if we go to the Moon we’re going to need energy infrastructure electrical systems heat from say computers compute power to say manage uh maybe encryption systems and communication systems um some form of accounting system to Source TR all sorts of Truth and uh data integrity and some form of money based on energy because the buildout of any form of Technology when going to the moon or to Mars or to one of the Moon on the other planets uh I don’t think a currency from Earth uh called the US dollar or the pound or the Euro or the yen is going to be a universal currency for the solar system it’s going to be something based on several different energy and compute technology systems that will justify the buildout of civilization to places like the Moon and what this means is that I believe that going to the Moon in terms of Bitcoin or maybe be a few people that launch satellites and fire a Bitcoin wallet and scatter them all across these planets as an incentive that in many many years to come the value of a whole Bitcoin would be so high that there’s an economic justification to actually go to that planet or to the moon the other side of that is well think of when you watched Avatar the uh the show or the film which is about a foreign world with the resources needed to uh survive and and uh bring those resources back to Earth and those are the sorts of justifications that that well are the they are the justifications for going to another planet another world will be the sort of resources that we can acquire there and bring them back in exchange for money uh because everything related to to lifting any form of weight off of the earth and getting it to the Moon to Mars is a stupidly expensive Endeavor so any form of expansion of our civilization is going to cost a lot of money and if we have a money which builds out energy and Technology infrastructure well you’ve got something that has the best chance of being the most successful currency in a new world that requires this critical infrastructure to be built and the Justified monetization of it another interesting angle actually is that uh well Bitcoin as a communication system means that all the different producers of Bitcoin communicate together because we’re all coordinating adding new blocks to the chain and Mars takes several minutes uh for communications to transfer because we’re limited by the speed of light so the only way that Bitcoin would operate both here on the earth and in Mars um would be if we are able to communicate faster than the speed of light if we’re not then an entirely new version of Bitcoin might have to be developed and deployed in different other worlds but that’s a topic for another day um yeah so I hope this is a different sort of direction to bitcoin going to the Moon yes you can be excited about the the dollar to Bitcoin exchange rate shooting up in price but what goes up must come down and the price of Bitcoin May shoot up but it always comes back down to fundamental things such as the production cost of Mining and the price will typically Flor out at the same sort of production cost so price and production uh well price is a premium and uh the best information you can have as to how high up it will go well typical Market Cycles will demonstrate Bitcoin going to about four to eight times Bitcoin production costs any higher than that and you’re trading hot air and what goes up must come down thank you for listening hope this was interesting goodbye