Harry Sudock1:12
Imagine if our economy and our lives were not governed by money that could be debased, by credentials that get handed out, and by vanity wealth that's demonstrable to your neighbor, but maybe not to your family. These three factors have been at the heart of every day since 1971 when we lost the gold standard here in America. Since then, we have a friend in the community who kindly coined the term the high velocity trash economy and we've been suffering under that for quite a long time. But thankfully due to Bitcoin, due to energy generation and due to data center compute, proof of work is being injected all across our economy instead of debased money. This concept of proof of work is foundational to Bitcoin. It's foundational to digital scarcity. It's foundational to regional prosperity. And it's really very simple. It's that to get something of value, you have to create something of value. We see it echo across the Bitcoin ecosystem where power is secured, land is purchased, Rackspace is built, and the servers that secure the network work around the clock in order to make sure that the only true digital scarce money with censorship resistant properties is being delivered on a transaction basis to the entire planet.
We're also seeing it enter our energy sector where the vanity metrics of renewables are less deeply considered whereas the value of base load such as nuclear energy is prioritized yet again. It's a national security concern. It's a household concern. It's a personal concern of mine. The third leg of that stool that proof of work is now holding up is that the generative AI token is required in order to unlock the business models that are going to propel the American economy into the future. If you cannot interact with the most intelligent form of computing, you cannot deliver true economic value for the business initiatives that you engage in. It's yet another example of proof of work pulling our economy into the future. It's also something that's happening in individuals lives. We're seeing a return to health and to wealth in equal parts. We are able to do these things because you know the joke in Bitcoin is that it's rules over rulers. But the additional layer to that is that rulers over rules over rulers because the ability to measure the world around you on a true honest and immutable basis is something that provides the economic freedom to create the companies that are going to change the world around us for years to come. This was a thesis that I had seven short years ago when we started a company called Grid Infrastructure. We believed that the intersection of energy and Bitcoin was going to be critical to the future prosperity of our nation. That vision was blended with the incredible work that was being done at CleanSpark and we joined forces to be able to bring that third leg of the stool around proof of work in Bitcoin, proof of work in megawatt hours and proof of work in compute all across the nation.
I'll leave you with a third and final component to this which is that proof of work is a fundamentally decentralizing force. The ability to consolidate power is really easy if you have a money printer, if you have the ability to stroke a pen and hand out a university degree, or you sit close to the injection point of the cancel effect at the beck and call of the ability to change the economy without the necessary value on the other end of that discussion. And so as we see the decentralized value chain get extended to places like Tennessee, like rural Georgia, like Wyoming, like Texas, like Nevada, and all over the country where technology never showed up. Manufacturing left. And there are communities that have the strength and cultural history to be bright and shining stars in the middle of our country. All they need is the moment to have an opportunity. The thing that's going to revitalize many of these places is the proof of work that will give them the opportunity for dignity and prosperity when the rationality returns to the market at a fundamental and broad basis. I'm going to leave you with what my grandfather would have told you because he said it better than I did. And that is ultimately between the wanting and the having is the doing. And so I encourage you to bring a sense of proof of work to your business, to your lives, to your family, to your home, and extend that out across the future that you have the opportunity to create. Imagine if you were the doer.
