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This is the price of Bitcoin over the last few years and this is the production cost of bitcoin over the last few years as a network average now here’s the thing to understand about why Bitcoin goes parabolic in price well the short answer can be explained with fiat

Currency fiat currency is an infinite amount of printed monetary units inflating to chase a scarce amount of goods and services at any given time that means that more money is chasing fewer Goods the prices go up and the money is going down Bitcoin does this the other way around the monetary units

Are scarce and the energy the mining the production to chase those monetary units is continually going up as the production cost shows and so it’s an infinite amount of energy chasing a scarce amount of monetary units Infinity over 21 million Bitcoin

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One of the concerns people have had before about Bitcoin mining is that how can you have an income stream that is random that you produce blocks randomly based on for example if you are mining with 1% of the Network’s hash rate you will earn approximately 1% of the blocks

Of Bitcoin but the struggle there is well how much money do you know you’re going to earn but the same analogy can be brought across to any other industry farming does the farmer know exactly how much he’s going to grow that year or does he put all of the time and energy

In preparing his field and the growth and the connection to the sun and the fertilizer and the efficiency of his Machinery it’s the exact same thing with Bitcoin mining it’s the best way to understand it is Bitcoin or bitco and that’s the same for if you

Open a business you don’t know how many customers are going to come in the door you can just sort of throw out an estimate and hope for the best

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So here’s something interesting HSBC have launched a digital gold token that is a digital asset which is an IOU that references a fractional amount of ownership of gold stored in a vault but here’s the problem how do you know and how can you trust they have the actual

Gold stored in a vault somewhere there is no way of intrinsically connecting the physical asset in the real world to the digital coin or commodity in the digital world but there is two Commodities out there that do have a physical asset or energy that is referenced in digital form with a direct

Intrinsic connection between the two bridging Both Worlds that answer is Hash power and Bitcoin are digital Commodities that are intrinsically connected to the physical world of energy through the computational timestamps of producing the next block in the chain

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Solar Punk the progression of technology and the environment hand inand it’s something that I believe that Bitcoin mining would be extremely valuable for in the concept of trading and conducting trade with energy resources let me explain in our economy 50% of every trade and transaction is money so in a

Solar Punk world how would this work we all live decentralized and locally and collectively grow things together so what do we price our produce in we need local markets local economies but at a global scale Bitcoin is the perfect system for this you can store your excess resources in Bitcoin through

Trade or you can store your excess energy resources through mining it doesn’t matter where I plug the same machine in anywhere on the planet it produces the exact same amount of Bitcoin for the same amount of energy input so we bring about a world of global decentralized pricing where we

Can all live in harmony

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Why does the price of Bitcoin go up after the harving well the short sweet Finance bro answer to this is the supply of freshly mined Bitcoin is cut in half and so with the same amount of demand out there the price goes up it explains things from a price perspective but what

About a value perspective well a miner converts a quantity of electricity exchanged through a machine to earn a quantity of Bitcoin so his electrical Bill stays the same but if the Haring comes along it cuts the amount of Bitcoin in half so now he needs to use twice as much electricity to produce

That same Bitcoin this means that Bitcoin has an electron value so if it’s 400,000 Kow to produce a Bitcoin now you need 800,000 KW the electron value of Bitcoin has doubled and so for miners it’s the doubling whether it’s the finance Bros it’s the Haring

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Bitcoin nodes what are they and why are they important and what is the history of them let’s have a look Bitcoin nodes store all of the transaction data of the blockchain and who was the first node that would have been Satoshi he would have shared all of the transaction data

Of the blockchain up to date with everyone else you can think of the nodes as the digital decentralized expansion of the Bitcoin network but the crazy thing is that’s not how Bitcoin know noes originally were functioning in the beginning you were mining managing your wallet and storing all of the data

Within the node itself let’s have a look when Satoshi began running his node he would have run the software produced his own blocks of Bitcoin stored all of that transaction data and managed the money of his wallet what’s happened now is all of these different roles have segregated into different Industries mining running

Pools managing nodes and wallet applications

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There is a trojan horse in the Bitcoin Network and it uses human greed to trick us into making the world’s most powerful money that has ever been invented let me show you Bitcoin as a network settles trillions of dollars worth of transactions every year that creates a

Poll of fees bitcoin’s fixed in Supply you can’t print it so you have to earn those fees who earns those fees an infinite potential amount of hash power to be produced what is Hash power produced by electricity and so the Trojan Horse is Bitcoin itself inviting people to connect as much energy into

The system and therefore inflating the purchasing power of Bitcoin infinitely over time more directly explained as infinite energy potential locked within 21 million digital units of Bitcoin hash power gives Bitcoin its energy value

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Is Bitcoin a crypto no Bitcoin uses cryptography as a mathematical layer to defend your monetary data otherwise known as Bitcoin take the example of WhatsApp you’ve got your endtoend encryption which means you send private information through the public internet with somehow nobody else being able to supposedly read it Bitcoin itself uses

What we call a hashing function to encrypt the data within the block blockchain and that is that there is an input the hashing function sh 256 and two to the power of 256 potential outputs so it’s almost impossible to guess the input and so we can communicate freely and protect our

Monetary data within the Bitcoin Network Bitcoin uses cryptography as both an attack vector and a defense as a symbiotic pair within the Bitcoin Network there’s a lot more to learn

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Bitcoin has a really interesting philosophical lens the physical energy and Mining side of the network is all about you and your strength as an individual in the physical world which is very apparent in our laws of nature on the digital side of Bitcoin it’s all about the network the strength of the

Collective and the number of connections that you make whether socially financially in the lightning Network it’s about your channels and so that comparison between the individual and the collective is very interesting to understand and to observe for example the individual minor versus the collective network of all

Miners if he’s producing 5x a hash of hash power and the network is 500 he’s earning 1% of all the Bitcoin Network Revenue his individual contribution is what he earns in return Bitcoin brings about a world where your individual contribution is recognized and valued

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History is written by The Victors and what that means is that throughout all the different civilizations that have risen or Fallen the person that got to decide what is the truth and what is the historical facts has somewhat been Twisted but this is very different in terms of Bitcoin because with Bitcoin

History is written by The Victors every 10 minutes and once it’s set it cannot be changed you can think of Bitcoin miners as fighting a computational battle to put the next block in the chain if the minor finds a block they decide what transactions go in that

Block and thus they earn the fees and the reward once that is locked in space and time it cannot be changed because it would cost a lot of energy to change that block and so everyone’s racing to find the next block in the chain and

They get to hold the pen of the Bitcoin accounting system for only 10 minutes history is written by The Victors every 10 minutes