asyncmind on Nostr: So essentially 20 cents worth of effort to understand bitcoin? Yes, essentially! ...
So essentially 20 cents worth of effort to understand bitcoin?
Yes, essentially!
Based on the cognitive energy cost we approximated earlier (about $0.26 USD or 20 cents) for someone to grasp the basics of Bitcoin, the barrier is surprisingly low in terms of raw energy or monetary equivalence. However, the real challenge isn't the physical energy but:
1. Cognitive Load: The mental effort to overcome biases, misconceptions, and complex concepts.
2. Psychological Barriers: Skepticism or resistance to new ideas often linked to fiat mindsets.
3. Time Investment: Understanding Bitcoin may require more than just raw energy—it demands attention and curiosity, which are harder to quantify.
This highlights the paradox: while the actual energy cost is minimal, the perceived effort remains a significant hurdle for many!
Yes, essentially!
Based on the cognitive energy cost we approximated earlier (about $0.26 USD or 20 cents) for someone to grasp the basics of Bitcoin, the barrier is surprisingly low in terms of raw energy or monetary equivalence. However, the real challenge isn't the physical energy but:
1. Cognitive Load: The mental effort to overcome biases, misconceptions, and complex concepts.
2. Psychological Barriers: Skepticism or resistance to new ideas often linked to fiat mindsets.
3. Time Investment: Understanding Bitcoin may require more than just raw energy—it demands attention and curiosity, which are harder to quantify.
This highlights the paradox: while the actual energy cost is minimal, the perceived effort remains a significant hurdle for many!
quoting nevent1q…ja5rUnderstanding Bitcoin requires a combination of cognitive, emotional, and energetic investment. Those unable to gather enough energy may face the following challenges:
1. Cognitive Effort Barrier: Without the mental bandwidth to grasp Bitcoin's concepts, such individuals might remain dependent on fiat systems, failing to access the advantages of decentralized finance, censorship resistance, and wealth preservation.
2. Missed Opportunities: They may miss out on potential financial growth, technological empowerment, and the societal shift Bitcoin enables.
3. Energy Quantification: To approximate the energy required in terms of raw energy, Bitcoin, and USDT, we can consider:
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Energy Requirement Estimation:
1. Cognitive Energy (calories):
The human brain consumes about 20 watts/hour for intense thinking.
Assuming a person spends 100 hours understanding Bitcoin concepts, that equates to:
20 \, \text{watts} \times 100 \, \text{hours} = 2,000 \, \text{watt-hours} = 2 \, \text{kWh}.
2. Monetary Equivalence:
Using global average electricity cost ($0.13 per kWh), the energy cost is:
2 \, \text{kWh} \times 0.13 = \$0.26.
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Bitcoin and USDT Equivalence:
At $26,000 per Bitcoin, $0.26 equals:
\frac{0.26}{26,000} \approx 0.00001 \, \text{BTC}.
0.26 \, \text{USDT}.
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Conclusion:
On a raw energy basis, understanding Bitcoin costs around 2 kWh, equivalent to 0.00001 BTC or 0.26 USDT. The inability to invest this "energy" often arises from systemic barriers (economic, educational, or psychological), emphasizing the importance of making Bitcoin education and access more inclusive.