Bitwater: the water heater element that mines bitcoin

I can only imagine the insurance policy that this company has.

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I asked chatGpt to explain Bitcoin mining to me like I'm an 8 year old and I still have no clue what the hell it is

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It's digital gold.

Which is fine. But there's a large delusional portion of the population that thinks it will eventually function as a currency. It will not.

It's a trading commodity in that there is a limited amount, it's difficult to obtain, and it stores value. It's no different than gold.

It's value comes from it's limited supply and speculative properties. As simply as I can put it, people obtain it by using computers to solve incredibly long math problems, which unlocks a block.

I have a whole mess of thoughts about the accounting behind it and how incorrectly it's treated on a company's balance sheet based on industry, but that's another topic.

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using computers to solve incredibly long math problems, which unlocks a block

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I'm still not getting it.

I understand there is a "limited" supply of a block. I don't really understand what the block is or why it's so hard to just make the computer do more math and therefore more blocks, but let's move on. And I understand people are trading the bitcoins, and there is a market for trading the bitcoins so you've got speculation and futures trading going on. Got it. It just seems like the dependency on accessing the underlying asset that gives this thing value is digital and remote. Remote from the owner and remote from prospective buyers. So if I lose my access to the digital mechanism of reaching the asset, block or bitcoin or whatever the frick, am I not sitting there in my goatee with just my dick in my hand? Again? And any number of outsiders can come in and either prohibit me from accessing my asset or even just charge me a toll to access it digitally? Why would a guy like me who eats the 2 for $25 deal at applebees by myself even entertain this bullshite? Would I be interested in dipping in and hitting some licks? Sure. I'll hit some licks. But this is not a longterm asset, and it's volatile and I can't grab the a-hole who is impeding my access to my asset and say, "Look, frickface, I want my fricking money and I mean now." I can't do that with the block and the guy who is in any country in the Levant or Moscow or even in Many. It sounds like a scheme that they cooked up to frick Applebee guys like me. And I get fricked enough doing my Applebees routine. I'm out. None for me, thanks.

That any type of ROI isn’t front and center is telling

You're not missing anything. You're smarter than the people investing in bitcoin. Some of them have gotten incredibly lucky and cashed out. That's really it.

So what's it make? .00003btc a year?

The value of the asset is also dependent on the future buyer valuing a physically and logically intangible asset for a higher price than you bought it or mined it for.

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Gold has use in actual physical applications

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Bitcoin has use in digital applications.

The technology that underlies bitcoin can be used as permanent ledger for applications outside of currency.

This is more or less why Ethereum exists as well.