What Will NEVER Change About Bitcoin? | Hashpower Academy

Video Transcript:

hello there welcome to the hash power Academy in today’s video we will be talking about what will never change in relation to bitcoin and that’s not just Bitcoin the asset the the money sitting in say a digital wallet of yours but that’s Bitcoin and its Network because the only way that your Bitcoin is moving to the next wallet and the accounting of the information of your transaction being added to the blockchain well all of those sorts of pieces are only going to occur if bitcoin’s underlying network is still operational and and functioning as it does today and even throughout the history of Bitcoin from the basics of the white paper to the point in time where you could produce your own Bitcoin blocks store your own Bitcoin transactions and add them to the meole through your own node and well the ownership of Bitcoin in a wallet all three functions of re write and own used to be in the same laptop and then mining got harder and then we developed different the chains such as liquid and lightning and all other different variations and read write and own have expanded into their own different Industries but what has fundamentally not changed is that core functionality that blocks are added to the blockchain because compute power is being produced by Bitcoin miners with their Hardware and that Hardware requires electricity to demonstrate its proof of work a computer not plugged in sitting in its box is not producing hash rate it’s not producing blocks but when the com com the combination of electricity and compute Hardware combined well that’s proof of work demonstrated and an internet connection so that Trifecta of network communications compute and electricity those are The Three core functionalities that keeps Bitcoin ticking along block by block and so what we can truly uh summarize as the sort of key takeaway here to begin with is well you need energy compute and networking so essentially energy and compute and the the communication between the two and those three core functions are everything to do with how we produce electricity everything to do with how we produce Compu and of course every different aspect of Bitcoin on the blockchain and those three sectors of energy compute and finance they are exploring their own different directions expanding into many different Industries and Technologies and yeah there’s countless different topics we can delve into just with the production of electricity whether it’s renewable non-renewable power um the different types of power such as renewable which is more dependent on the availability of the Sun or the wind or the amount of water flowing through the hydrop power Dam or more controllable power and high carbon such as fossil fuels uh gas power station Coal Power stations it’s endless all of these different uh energy technology areas are all producing the same fungible commodity electricity and Bitcoin mining Hardware it has its own history of being the basics of people using CPUs to mine Bitcoin all the way to as6 and the complexities of different cooling systems to make the chips last even longer with less thermal damage all of these sorts of things come into fruition but again the same fundamental process that as the technology layer for the commodity innovates in its own Direction same with the energy technology layer they are accelerating nuclear fusion will come next and all these sorts of things but again the same commodity produced as the output is fungible and that fungibility operates in three layers the Bitcoin blockchain being produced by all this compute power that’s continually uh accelerating its efficiency within itself well everything to do with the microchip supply chain is getting closer and closer to a new phase such as photonics because we are hitting chip density limits when it comes to transistors but again what will never change is the production of compute power to Brute Force find the next block in the chain as more compute power joins the network the difficulty adjustment continues to increase and again pushing to find the next block in the chain it produces the same thing a fungible data money we call Bitcoin and so the question becomes well what will never change about Bitcoin coin it’s the Three core Commodities of electricity hash power and Bitcoin as the scarce 21 million fixed Supply monetary unit and energy and compute will be expanding underneath whether it’s the dollarized world of energy or still the dollarized world of compute um and that will say transition maybe onto a Bitcoin unit of account with things um but the continual expansion of energy compute would be an unrelenting non never changing sort of thing when it comes to looking say a thousand years into the future I think that we might even reach a point that someone will be harvesting the entire energy output of a sun uh not this one hopefully because Earth will probably be a mother planet um but there will be a time thousands of years in the future where someone’s harvesting the energy of a son to mine Bitcoin um or yeah that that would be an interesting point in time for them to look back and watch this video and see uh if if that’s accurate but yeah those are the things that will never change about Bitcoin but what will change is the underlying Technologies and the complexities of the use of energy transfer through these layers of electrical en energy bit power maybe and Bitcoin in of itself that um energy comput and finance are fragmenting and expanding in their own directions everything to do with uh as I mentioned nuclear fusion potentially and other energy sources that we that we that we develop um in relation to compute power the parallel for Bitcoin mining compute power is AI compute power but if Bitcoin can monetize the energy with a pricing system for that energy well that pricing system will probably the Bitcoin to energy pricing system will probably be the one that’s used by AI because it’s because Bitcoin is a natively digital form of money which means that the AIS can sort of natively communicate with it whether it’s AI agents or all these other sorts of things hope that answers the question um I hope this was an interesting video if you liked it drop a comment throw me a question if you want a different sort of topic that you’d like me to cover I would like to cover it thank you for listening goodbye