Gm. I just want to express a thought I just fleshed out.

# Bitcoin is a new industry

#Bitcoin is a natural currency that can be earned directly by spending energy. It isn't issued and distributed by a master or an authority, it is an algorithm that is guarded and protected by people in competition.

Competition is the next important component. More energy does not simply beget more bitcoin, instead, bitcoin is rewarded in a relatively consistent rate over time. Therefore as more people enter this competition, it becomes a race to who can produce the most energy.

But producing more energy is not enough. It costs time and resources to produce energy, and therefore there are two ways to compete effectively:

1. Improve efficiency: both in energy production and energy usage (high efficiency hardware)

2. Find secondary sources of income to subsidise the costs.

The first is interesting because it naturally drives research and advancement into energy production, and has actually driven green energy research much further.

The second method starts to help us realise the real benefits. Bitcoin miners become experts in finding ways to deliver new energy sources, often renewable ones, to society in ways that are useful, in ways that people will pay for.

So bitcoin the currency is a permissionless money. But bitcoin the network is a brand new industrial technology that brings new innovative energy production to society.

#showerthoughts