1 00:00:02,600 --> 00:00:04,960 It's. All going to zero against 2 00:00:04,960 --> 00:00:07,480 Bitcoin. It's going on forever. 3 00:00:15,040 --> 00:00:17,200 You're against Bitcoin. You're against freedom. 4 00:00:26,950 --> 00:00:31,230 Good morning, everybody. Welcome back to Simply Bitcoin, 5 00:00:31,390 --> 00:00:35,600 the number one live Bitcoin show on YouTube, Twitter, and Rumble. 6 00:00:35,680 --> 00:00:38,800 We are on Twitch, but we only get one person that hangs out 7 00:00:38,800 --> 00:00:40,760 with us on Twitch, so whatever. Whatever. 8 00:00:40,960 --> 00:00:44,440 Anyways, we cover breaking news, Culture, Eminematic Warfare, I'm 9 00:00:44,440 --> 00:00:47,960 Opti, I'm hosting today and I will be your guide through the 10 00:00:47,960 --> 00:00:52,120 separation of money and state. And as you can see from the 11 00:00:52,120 --> 00:00:55,080 title, we got some interesting news coming out of Argentina. 12 00:00:55,560 --> 00:00:58,520 And I think it's very fitting considering we've got a lot of 13 00:00:58,520 --> 00:01:00,840 talk about how bad Bitcoin mining is. 14 00:01:00,840 --> 00:01:04,080 We've been in the press recently about how bad Bitcoin mining is. 15 00:01:04,519 --> 00:01:07,120 It wastes electricity, we're going to boil the oceans, you 16 00:01:07,120 --> 00:01:09,800 know, bitcoins going to take up all the world's energy. 17 00:01:10,080 --> 00:01:12,680 And it's simply not true. I think if you've watched the 18 00:01:12,680 --> 00:01:15,440 show for a while, you know this is simply not true. 19 00:01:15,440 --> 00:01:17,840 Bitcoin is good for the environment. 20 00:01:18,080 --> 00:01:22,040 It finds stranded energy, it minimizes carbon emissions, and 21 00:01:22,040 --> 00:01:25,480 it strengthens electrical infrastructure, which few people 22 00:01:25,560 --> 00:01:28,720 really like to talk about. But that's what we do here. 23 00:01:28,720 --> 00:01:31,320 We like to counter their narratives. 24 00:01:31,680 --> 00:01:36,680 Call them on their BS and as we know here as if you're a local, 25 00:01:36,920 --> 00:01:39,760 an OG watching simply Bitcoin. You know Bitcoin miners are 26 00:01:39,760 --> 00:01:42,720 incentivized to source undiscovered energy, stranded 27 00:01:42,720 --> 00:01:47,440 energy and of course cheap energy and energy that would 28 00:01:47,440 --> 00:01:49,640 just literally be wasted going into the environment. 29 00:01:49,640 --> 00:01:52,800 And we have a new story today about this happening in 30 00:01:52,800 --> 00:01:57,280 Argentina with a headline of GDA partners with YPF Lose to launch 31 00:01:57,320 --> 00:02:00,160 a Bitcoin mining center in Argentina powered with 32 00:02:00,320 --> 00:02:03,840 repurposed flared gas. And the interesting part about 33 00:02:03,840 --> 00:02:09,680 this is YPF Lose is a majority state owned energy company in 34 00:02:09,680 --> 00:02:12,520 Argentina. It's actually might be the 35 00:02:12,520 --> 00:02:16,200 largest state owned energy company in Argentina. 36 00:02:16,240 --> 00:02:21,000 So in this case, it looks like the state of Argentina is seeing 37 00:02:21,000 --> 00:02:24,080 the writing on the wall. Bitcoin mining is good and not 38 00:02:24,080 --> 00:02:27,440 only for the environment but for their pocketbook it is 39 00:02:27,440 --> 00:02:30,600 profitable. Maybe they want to get into 40 00:02:30,600 --> 00:02:34,600 Bitcoin and we'll see them most likely expand further into 41 00:02:35,040 --> 00:02:39,640 Bitcoin mining at large. And we're kind of seeing at the 42 00:02:39,640 --> 00:02:44,440 same vein that Argentina, for all its faults, is looking like 43 00:02:44,960 --> 00:02:48,800 a nice place for Bitcoin businesses to move in there and 44 00:02:48,800 --> 00:02:51,840 utilize the country. So don't listen to the 45 00:02:51,840 --> 00:02:53,840 naysayers, Don't listen to the fudders. 46 00:02:54,080 --> 00:02:57,120 Don't listen to the green pieces of the world telling you Bitcoin 47 00:02:57,120 --> 00:02:59,160 is bad because of its energy usage. 48 00:02:59,400 --> 00:03:04,160 They're simply wrong at best, or intentionally lying at worst. 49 00:03:04,160 --> 00:03:06,240 But we know they don't care about the facts. 50 00:03:06,400 --> 00:03:08,480 We know they only care about their narrative. 51 00:03:08,480 --> 00:03:11,920 They only want to scare people away from Bitcoin mining and 52 00:03:11,920 --> 00:03:15,440 Bitcoin in general. So when you really look at the 53 00:03:15,440 --> 00:03:18,800 data, Bitcoin mining is actually helping the world's that are not 54 00:03:18,800 --> 00:03:22,480 directly visible to many people. And that's OK And we know 55 00:03:22,480 --> 00:03:25,680 there's a knee jerk reaction in regards to Bitcoin's energy use. 56 00:03:25,680 --> 00:03:29,560 We know there's a narrative against using energy in general. 57 00:03:29,560 --> 00:03:32,000 They want to bring us back into the stone ages. 58 00:03:32,000 --> 00:03:36,960 But as Bitcoiners, we understand energy use is good because when 59 00:03:36,960 --> 00:03:39,360 you look at the data, you look at the innovation, you even look 60 00:03:39,360 --> 00:03:42,840 at the profits, you see a completely different story. 61 00:03:42,840 --> 00:03:47,120 Competition and energy is good. This is good for planet Earth. 62 00:03:47,120 --> 00:03:48,840 This is good for every single one of us. 63 00:03:49,120 --> 00:03:50,800 This is good for the cost of your energy. 64 00:03:50,800 --> 00:03:53,760 So hopefully we see more countries follow suit. 65 00:03:54,760 --> 00:03:57,640 But in the meantime, we're going to be talking about Argentina. 66 00:03:57,800 --> 00:04:00,400 And this also leads to something that I've been saying for a 67 00:04:00,400 --> 00:04:04,240 while on the show that once Bitcoin is tied to the price of 68 00:04:04,240 --> 00:04:07,440 energy, when more energy producers realize that they need 69 00:04:07,440 --> 00:04:12,480 to price oil and natural gas and coal etcetera to Bitcoin, that's 70 00:04:12,480 --> 00:04:17,279 when Bitcoin will become and solidify itself as the de facto 71 00:04:17,279 --> 00:04:20,519 money of the world. And of course with that comes 72 00:04:20,680 --> 00:04:22,760 number go up. So if Bitcoin can knock the 73 00:04:22,760 --> 00:04:27,440 Petro dollar as the way to price energy, man, the game theory 74 00:04:27,440 --> 00:04:31,120 really starts to play out and we'll really start to see 75 00:04:31,520 --> 00:04:35,480 interesting things happen in the Bitcoin space. 76 00:04:35,560 --> 00:04:41,720 And of course, also this ties into a very, very tiring 77 00:04:41,720 --> 00:04:45,480 conversation about proof of work or proof of stake and all this 78 00:04:45,480 --> 00:04:47,040 stuff. But this is the importance of 79 00:04:47,040 --> 00:04:50,480 proof of work. Work must be done, Energy must 80 00:04:50,480 --> 00:04:53,840 be spent to create. This is what hard money means. 81 00:04:55,000 --> 00:04:57,560 This is literally a law of physics. 82 00:04:57,560 --> 00:05:00,480 The harder it is to produce that money, the better the money is. 83 00:05:00,480 --> 00:05:02,840 It's it's economic law, if if you will. 84 00:05:03,160 --> 00:05:05,760 And so we're seeing it's happening block by block. 85 00:05:05,920 --> 00:05:08,520 The world is being repriced in Bitcoin and you just love to see 86 00:05:08,520 --> 00:05:11,680 it. And again in Argentina with 87 00:05:11,680 --> 00:05:14,680 Malay, for all his faults, for all the faults in Argentina, 88 00:05:14,760 --> 00:05:17,680 it's seemingly becoming a good place for bitcoiners. 89 00:05:17,680 --> 00:05:21,320 Of course, they're angling everything towards, you know, 90 00:05:21,320 --> 00:05:25,400 the dollarization of Argentina. There's been a lot of rumors 91 00:05:25,400 --> 00:05:29,280 that that I'm personally not a big fan of, but I think it's 92 00:05:29,280 --> 00:05:32,320 still a little early to see whether Malay can accomplish 93 00:05:32,320 --> 00:05:35,720 something great in Argentina. Will he be able to follow what 94 00:05:35,720 --> 00:05:37,720 Buchelle has done in El Salvador? 95 00:05:38,400 --> 00:05:40,840 We'll see. It does seem like he's made some 96 00:05:40,840 --> 00:05:43,760 early missteps and only time will tell. 97 00:05:44,040 --> 00:05:47,960 So on that note, Bitcoin is maturing and it's incredible to 98 00:05:47,960 --> 00:05:50,960 watch and we're on the front lines and we'll keep covering 99 00:05:50,960 --> 00:05:52,840 this. This is I think one of the most 100 00:05:52,840 --> 00:05:58,040 important things going on in Bitcoin is when energy gets 101 00:05:58,040 --> 00:06:02,040 completely tied to Bitcoin. Once energy is repriced in 102 00:06:02,040 --> 00:06:06,280 Bitcoin, this is when the game really starts to take hold, 103 00:06:06,520 --> 00:06:09,520 especially here in America. If you understand anything about 104 00:06:09,520 --> 00:06:13,400 the dollar Fiat system, you know that most energy is tied to the 105 00:06:13,400 --> 00:06:15,400 dollar in the Petro dollar system. 106 00:06:15,400 --> 00:06:18,400 So hey, we're seeing BRICS nations move away from the 107 00:06:18,400 --> 00:06:22,160 dollar, we're seeing countries move away from treasuries, and 108 00:06:22,160 --> 00:06:27,040 now we're starting to see that more energy producers are going 109 00:06:27,040 --> 00:06:29,480 to attach their energy production to Bitcoin. 110 00:06:29,480 --> 00:06:33,680 So things are heating up. I think 2024 is going to be not 111 00:06:33,680 --> 00:06:37,840 only an interesting year in regards to the Bitcoin price, 112 00:06:38,040 --> 00:06:40,880 but in regards to the Bitcoin ecosystem at large. 113 00:06:40,880 --> 00:06:42,480 And hey man, we're on the front lines. 114 00:06:42,640 --> 00:06:45,600 Absolutely love it. It feels so good being a 115 00:06:45,600 --> 00:06:47,000 bitcoiner. We're just out here winning 116 00:06:47,000 --> 00:06:50,000 constantly. And all the naysayers, all the 117 00:06:50,000 --> 00:06:53,000 floodsters out there, they can continue to say what they want, 118 00:06:53,840 --> 00:06:57,640 but the proof is in the pudding. Bitcoin is good and you can't 119 00:06:57,640 --> 00:06:59,720 stop it. So man love to see it. 120 00:06:59,840 --> 00:07:05,040 Of course I'm not alone here. Today we got Chris Alamo off the 121 00:07:05,040 --> 00:07:08,640 bench today he is sorry. Let me get your official title 122 00:07:08,640 --> 00:07:09,440 here. I wrote it down. 123 00:07:09,440 --> 00:07:14,040 Programming manager at SWAN. Also loosely affiliated with us 124 00:07:14,040 --> 00:07:16,560 here at Simply Bitcoin. He was working at Bitcoin mag. 125 00:07:16,560 --> 00:07:21,480 This guys just everywhere. So Chris and also low key a 126 00:07:21,480 --> 00:07:23,400 Bitcoin think boy in his own right. 127 00:07:23,400 --> 00:07:27,240 So Chris, thanks to have you here Oh also might be one of the 128 00:07:27,240 --> 00:07:30,320 best producers in Bitcoin, might be one of the best producers in 129 00:07:30,400 --> 00:07:31,200 the game. I don't know. 130 00:07:31,640 --> 00:07:33,000 I gotta stay humble. Hot Opti. 131 00:07:33,000 --> 00:07:34,320 I'm not the best producer in the game. 132 00:07:34,360 --> 00:07:34,600 Not. Not. 133 00:07:34,600 --> 00:07:37,840 The most humblest. No, thanks for having me, Opti. 134 00:07:38,080 --> 00:07:39,240 What's up, Bitcoiners? How's it going? 135 00:07:40,000 --> 00:07:42,160 Let's go, let's go. All right, guys. 136 00:07:42,160 --> 00:07:45,400 Well you guys know who's Co hosting with us, but we brought 137 00:07:45,400 --> 00:07:48,360 back a guest that you guys absolutely loved a few weeks 138 00:07:48,360 --> 00:07:50,160 ago. He's got a special surprise for 139 00:07:50,160 --> 00:07:55,360 us in the in the game as well. So on that note I got SAT AKA 140 00:07:55,360 --> 00:08:01,000 lightning goats with us again today and he did bring a little 141 00:08:01,000 --> 00:08:04,200 a little secret project. It's not officially. 142 00:08:04,960 --> 00:08:08,160 We haven't figured out all the kinks yet so we'll drop that in 143 00:08:08,160 --> 00:08:09,200 the culture. But set. 144 00:08:09,200 --> 00:08:11,400 How you doing today? We will feed some goats guys 145 00:08:11,400 --> 00:08:14,560 they were they were calling for the goats ever since you came 146 00:08:14,560 --> 00:08:16,800 on. And there there's constant goat 147 00:08:16,800 --> 00:08:19,040 memes now in our chat. So set. 148 00:08:19,200 --> 00:08:20,920 Thanks for coming back. How you doing this morning? 149 00:08:22,000 --> 00:08:24,320 I'm doing good. Thanks for having me on guys. 150 00:08:24,680 --> 00:08:29,600 I I look forward to the show. Let's go, let's go. 151 00:08:29,600 --> 00:08:32,440 Well, hopefully we can over feed the goats again today. 152 00:08:32,440 --> 00:08:35,840 I'm sure, I'm sure they got way too much food that day when we 153 00:08:35,840 --> 00:08:37,720 brought them, when we brought you on the show. 154 00:08:38,200 --> 00:08:41,400 So we got that again. We'll do the live, the the live 155 00:08:41,400 --> 00:08:43,760 stream of the goats. But we got a little surprise for 156 00:08:43,760 --> 00:08:46,680 you guys in the culture as well. I think you guys are going to 157 00:08:46,680 --> 00:08:49,160 like it again. I haven't figured out all the 158 00:08:49,160 --> 00:08:50,960 kinks yet. I was trying to do it before the 159 00:08:50,960 --> 00:08:53,360 show. So you guys will see it live and 160 00:08:53,360 --> 00:08:55,680 and I'll make sure it looks good for us moving forward. 161 00:08:55,840 --> 00:08:57,840 But on that note, no, you guys will get there. 162 00:08:58,040 --> 00:09:00,200 Let's get into the numbers guys. We got a lot of oh wait, 163 00:09:00,200 --> 00:09:02,640 actually, sorry, not just the numbers. 164 00:09:02,640 --> 00:09:05,760 I got to plug our boys at the Bitcoin. 165 00:09:05,760 --> 00:09:10,160 Well, by real Bitcoin guys, this is bitcoinwell.com. 166 00:09:10,160 --> 00:09:14,120 They just officially released their product to the US. 167 00:09:14,120 --> 00:09:17,520 They're in all 50 States and it's a Bitcoin only exchange. 168 00:09:17,520 --> 00:09:19,000 Guys. Self custody by default. 169 00:09:19,000 --> 00:09:22,880 No VC money, no withdrawal fees. They cover the withdrawal fees 170 00:09:23,200 --> 00:09:25,160 and they really want your feedback. 171 00:09:25,160 --> 00:09:28,440 And that's the reason we absolutely love Bitcoin. 172 00:09:28,440 --> 00:09:30,000 Wow. They align with the simply 173 00:09:30,000 --> 00:09:33,760 Bitcoin thesis of taking your Bitcoin into custody, but they 174 00:09:33,760 --> 00:09:37,080 want your feedback. Hit Adam and his DMS, tag them 175 00:09:37,080 --> 00:09:41,760 on the timeline, bug them all you want, use the platform, and 176 00:09:41,760 --> 00:09:45,000 tell them what you want to be done on the platform. 177 00:09:45,000 --> 00:09:48,840 They're shipping new features every two weeks, and we want to 178 00:09:48,840 --> 00:09:52,880 make this the best self custody by default platform, period. 179 00:09:53,320 --> 00:09:56,200 And it's going to happen. We're doing it slowly but 180 00:09:56,200 --> 00:09:58,360 surely. So go to bitcoinwell.com/simply 181 00:09:58,360 --> 00:10:02,640 Bitcoin, Sign up today, and get on the mission to stacking 182 00:10:02,920 --> 00:10:05,160 Bitcoin. All right, guys, let's get into 183 00:10:05,160 --> 00:10:08,920 the show. Bitcoin numbers. 184 00:10:09,400 --> 00:10:12,160 Is your Bitcoin and cold storage really secure? 185 00:10:12,320 --> 00:10:14,840 Is your seed phrase really secure? 186 00:10:14,960 --> 00:10:16,560 Stamp seeds? Do it yourself. 187 00:10:16,560 --> 00:10:20,280 Kit has everything you need to hammer your seed words into 188 00:10:20,280 --> 00:10:24,520 commercial grade titanium plates instead of just writing them on 189 00:10:24,520 --> 00:10:27,320 paper. Don't store your generational 190 00:10:27,320 --> 00:10:30,600 wealth on paper. Papers prone to water damage, 191 00:10:30,600 --> 00:10:32,600 fire damage. You want to put your 192 00:10:32,600 --> 00:10:35,680 generational wealth on one of the strongest metals on planet 193 00:10:35,680 --> 00:10:38,520 earth, Titanium. Your words are actually stamped 194 00:10:38,520 --> 00:10:42,080 into this metal plate with this hammer and these letter stamps. 195 00:10:42,120 --> 00:10:44,640 And once your words are in, they aren't going anywhere. 196 00:10:44,720 --> 00:10:48,360 No risk of the plate breaking apart and pieces falling 197 00:10:48,360 --> 00:10:50,800 everywhere. Titanium stamp seeds will 198 00:10:50,800 --> 00:10:53,760 survive nearly triple the heat produced by a house fire. 199 00:10:53,760 --> 00:10:56,920 They're also crush proof, waterproof, non corrosive, and 200 00:10:56,920 --> 00:10:59,160 time proof. All things that paper is not 201 00:10:59,200 --> 00:11:01,760 allowing you to huddle your Bitcoin with Peace of Mind. 202 00:11:01,880 --> 00:11:05,840 For the long haul. Stamp your seed on stamp, seed 203 00:11:05,840 --> 00:11:11,200 you guys scan the QR code. Do not leave your seed phrase on 204 00:11:11,200 --> 00:11:12,560 a piece of paper in your sock drawer. 205 00:11:12,760 --> 00:11:15,880 Stamp it into titanium. And again, guys, I'm laughing at 206 00:11:15,880 --> 00:11:17,840 at the chat. You, you, you guys are already 207 00:11:17,840 --> 00:11:19,240 going hard. Absolutely love it. 208 00:11:19,520 --> 00:11:21,600 OK, All right. We're over here on Clark Moody's 209 00:11:21,600 --> 00:11:23,000 dashboard. You guys already know. 210 00:11:23,120 --> 00:11:24,840 If you don't know Clark Moody's dashboard, go to 211 00:11:24,840 --> 00:11:30,160 bitcoin.clarkmoody.com/dashboard and you can get all real time 212 00:11:30,160 --> 00:11:33,640 time chain metrics of the Bitcoin time chain or blockchain 213 00:11:33,640 --> 00:11:35,880 if you're new. Anyways, my favorite number is 214 00:11:35,880 --> 00:11:37,360 the block height TikTok next block. 215 00:11:37,360 --> 00:11:40,040 It's almost like Bitcoin is working exactly as designed and 216 00:11:40,040 --> 00:11:46,160 we are currently at a block height of 842,576 and oof. 217 00:11:46,200 --> 00:11:49,280 Look at the Bitcoin price at 62,320 guys. 218 00:11:49,280 --> 00:11:50,560 It's sell over. Pack it up. 219 00:11:50,560 --> 00:11:52,640 It was a good run. We're going to zero. 220 00:11:52,640 --> 00:11:56,080 It's it's over guys. Man, we we had a good run. 221 00:11:56,080 --> 00:11:59,440 You know I'm just trolling guys. Currently the stats per dollar, 222 00:11:59,440 --> 00:12:02,120 AKA what your dollar is worth in Bitcoin or Sats. 223 00:12:02,120 --> 00:12:05,040 How much Bitcoin you can buy for a single dollar is currently at 224 00:12:05,040 --> 00:12:09,760 1605 Sats or 160 bits for the bits. 225 00:12:09,760 --> 00:12:12,840 Maxis in the pat in the back. We haven't had the bits Sats 226 00:12:12,840 --> 00:12:16,080 debate for a minute so I got to pull that one out of the out of 227 00:12:16,080 --> 00:12:18,320 the woodworks. Anyways the total percentage of 228 00:12:18,320 --> 00:12:22,440 Bitcoin that will ever be issued is currently at 93.78%. 229 00:12:22,440 --> 00:12:27,120 I repeat, the total percentage of all 21 million Bitcoin that 230 00:12:27,120 --> 00:12:30,560 will ever be released is currently at 93.78%. 231 00:12:30,800 --> 00:12:32,080 The last, I forget what we're at. 232 00:12:32,080 --> 00:12:37,120 It's like the last 1.4 million will be released in the next 100 233 00:12:37,120 --> 00:12:39,840 years. So you know, Bitcoin is becoming 234 00:12:39,840 --> 00:12:42,080 the scarcest money ever in real time. 235 00:12:42,360 --> 00:12:44,320 Anyways. The market cap of Bitcoin in 236 00:12:44,320 --> 00:12:47,160 dollar terms is at $1.23 trillion. 237 00:12:47,320 --> 00:12:50,680 The realized monetary inflation is at 1.69%. 238 00:12:50,920 --> 00:12:54,240 The Bitcoin versus gold market cap is at 7.8%. 239 00:12:54,240 --> 00:12:56,840 We're not even at 10% of the gold market cap. 240 00:12:56,840 --> 00:13:00,200 So I think we're going to make some huge leaps in that number 241 00:13:00,200 --> 00:13:02,600 this year. And the total public lightning 242 00:13:02,600 --> 00:13:08,760 capacity is currently at 4618.78 BTC and the hash rate the last 243 00:13:08,760 --> 00:13:14,200 90 days is at 598.2 EXA hashes. And the pending fees currently 244 00:13:14,200 --> 00:13:17,000 at least to the mempool that Clark Moody's connected to, is 245 00:13:17,040 --> 00:13:20,560 8.01 BTCS. So we're seeing the fees are 246 00:13:20,560 --> 00:13:23,680 starting to come down. We're seeing it start to at 247 00:13:23,920 --> 00:13:26,200 least get a little more normalized here. 248 00:13:26,200 --> 00:13:30,440 So once the fees come down, guys, make sure you're not 249 00:13:30,440 --> 00:13:33,680 sleeping out there, open your lightning channels, consolidate 250 00:13:33,680 --> 00:13:37,520 your UTXOS, get your good UTXO hygiene. 251 00:13:38,160 --> 00:13:42,000 All right guys, so on the theme of today, since we're talking 252 00:13:42,000 --> 00:13:45,240 about Bitcoin mining in Argentina, I thought it'd be 253 00:13:45,240 --> 00:13:49,480 very fitting to bring up this video that we posted on our 254 00:13:49,480 --> 00:13:53,800 Twitter at Simply Bitcoin TV. And it's this guy in 2013 255 00:13:53,800 --> 00:13:58,280 mining, Bitcoin, mining one Bitcoin a day on his computer. 256 00:13:58,720 --> 00:14:02,360 And I really wanted to bring this today and I'm going to show 257 00:14:02,360 --> 00:14:05,040 you the hash rate numbers afterwards so you guys can try 258 00:14:05,040 --> 00:14:08,440 to visualize just how powerful the Bitcoin network is. 259 00:14:08,600 --> 00:14:11,960 We talked about it this week. You know, Sailor did his clip at 260 00:14:11,960 --> 00:14:15,800 the Bitcoin for Corporation about Bitcoin being the biggest 261 00:14:15,800 --> 00:14:18,320 supercomputer in the world. And no nation state, no single 262 00:14:18,320 --> 00:14:22,080 corporation can stop what's going on on the Bitcoin network. 263 00:14:22,440 --> 00:14:25,920 And I just kind of wanted to show the humble beginnings of 264 00:14:25,920 --> 00:14:28,640 Bitcoin mining. If you're new to the space, 265 00:14:28,800 --> 00:14:31,440 maybe you're not fully aware that you could have literally 266 00:14:31,440 --> 00:14:36,120 connected your computer, get a GPU mining rig going, and you 267 00:14:36,120 --> 00:14:38,080 could have made one Bitcoin a day. 268 00:14:38,080 --> 00:14:41,360 Back in the day. We all wish we could have just 269 00:14:41,360 --> 00:14:44,680 mined one Bitcoin a day off an $800 computer. 270 00:14:44,680 --> 00:14:47,760 Today, obviously, no one knew where the Bitcoin price was 271 00:14:47,760 --> 00:14:51,800 going, but you just love to see the the this. 272 00:14:51,880 --> 00:14:55,160 Oh Jesus, it's out here that that put in the time and 273 00:14:55,160 --> 00:14:58,000 understood this before us, but let's watch this video, It's 274 00:14:58,000 --> 00:14:59,480 actually pretty good. It's pretty short. 275 00:14:59,480 --> 00:15:02,200 And then we'll go over some of the hash rate numbers that we 276 00:15:02,200 --> 00:15:06,640 currently see today. Eric Elliott, I'm an Internet 277 00:15:06,640 --> 00:15:08,400 developer. I am a Bitcoin miner. 278 00:15:11,680 --> 00:15:15,760 Bitcoin is a decentralized cryptocurrency, basically a 279 00:15:15,800 --> 00:15:20,000 virtual form of money. Bitcoin is controlled by 280 00:15:20,360 --> 00:15:23,680 software algorithm in order to control the amount of bitcoins 281 00:15:23,680 --> 00:15:25,800 that are released into the economy. 282 00:15:26,440 --> 00:15:29,600 The algorithm determines that there's only so many that are 283 00:15:29,760 --> 00:15:32,280 mined during certain period of time. 284 00:15:32,560 --> 00:15:37,320 Currently, that is 25 bitcoins are found about every 10 minutes 285 00:15:37,320 --> 00:15:39,440 or so. Those people that are mining 286 00:15:39,720 --> 00:15:42,440 contribute to the overall, I guess, computing power of the 287 00:15:42,440 --> 00:15:44,280 network. You're only going to get 288 00:15:44,280 --> 00:15:48,200 rewarded, in essence, whatever percentage of that power your 289 00:15:48,200 --> 00:15:50,960 computers are putting out. So those are the graphics cards 290 00:15:50,960 --> 00:15:52,400 right there. Those are what are doing all the 291 00:15:52,400 --> 00:15:54,440 work. Most miners are probably earning 292 00:15:54,440 --> 00:15:57,000 fractions of bitcoins. Standard computer that you 293 00:15:57,000 --> 00:16:01,640 basically see any gamer having. I've started mining in 2011, so 294 00:16:01,640 --> 00:16:04,320 I invested about $800 to build this computer. 295 00:16:04,400 --> 00:16:07,600 At the time when I put it online, I was probably mining, 296 00:16:07,600 --> 00:16:10,080 you know, one Bitcoin a day, something like that. 297 00:16:10,440 --> 00:16:13,160 In essence, all you're doing is downloading software and running 298 00:16:13,160 --> 00:16:16,040 software that's running 24/7 that are accepting these 299 00:16:16,040 --> 00:16:18,640 mathematical problems, solving the mathematical problems, and 300 00:16:18,640 --> 00:16:21,680 sending results back up to, you know, to a server. 301 00:16:22,640 --> 00:16:27,400 Well, First things first, it's very interesting how far or 302 00:16:27,400 --> 00:16:30,640 rather how far back the mainstream media has gone in 303 00:16:30,640 --> 00:16:33,120 regards to Bitcoin. You know, this is on CNN Money. 304 00:16:33,320 --> 00:16:36,560 I'm pretty sure now if we talk about Bitcoin on CNN, they're 305 00:16:36,560 --> 00:16:40,760 going to be just absolutely not talking good about Bitcoin, not 306 00:16:40,760 --> 00:16:42,440 actually spreading good information. 307 00:16:42,760 --> 00:16:47,760 But with all that being said, this guy was using the GPUs that 308 00:16:47,760 --> 00:16:50,400 you used to play video games to mine Bitcoin. 309 00:16:50,560 --> 00:16:53,520 He was mining one Bitcoin a day in 2013. 310 00:16:53,920 --> 00:16:56,360 I don't know Chris, maybe you could Fact Check us right right 311 00:16:56,360 --> 00:16:58,480 now what was one Bitcoin in 2013? 312 00:16:58,480 --> 00:17:01,920 While I go over some of the hash rate numbers here, but I really 313 00:17:01,920 --> 00:17:05,160 like this comment before I show you how far the hash rate has 314 00:17:05,160 --> 00:17:08,480 come since 2013. I like this comment by UTXL 315 00:17:08,480 --> 00:17:11,480 because the important part is not knowing exactly when Bitcoin 316 00:17:11,480 --> 00:17:14,560 is going to Infinity, but understanding that is in fact 317 00:17:14,720 --> 00:17:17,040 inevitably going to Infinity at some point. 318 00:17:17,319 --> 00:17:20,000 And he said the next few years. But we'll we'll say, we'll say 319 00:17:20,000 --> 00:17:24,280 in the in the next few decades anyways, absolute, Chad, you 320 00:17:24,280 --> 00:17:28,119 know, imagine being in 2013 and mining Bitcoin on your computer 321 00:17:28,240 --> 00:17:31,280 that you play video games with and getting one Bitcoin a day 322 00:17:31,280 --> 00:17:33,560 and then huddling that Bitcoin to this point. 323 00:17:33,840 --> 00:17:37,440 Man, we could all only wish that we could have done this. 324 00:17:37,720 --> 00:17:40,320 Of course, there's no point in looking backward. 325 00:17:40,320 --> 00:17:43,720 There's no point in in beating yourself up about being late to 326 00:17:43,720 --> 00:17:48,280 Bitcoin, but you have the best time to stack Bitcoin now today 327 00:17:48,280 --> 00:17:52,400 Anyways, I wanted to show you how far the hash rate has come 328 00:17:52,400 --> 00:17:56,360 since 2013, and as I think it was, Rave Elevator in the chat 329 00:17:56,360 --> 00:18:00,520 said this was before a six were even made, which is what's 330 00:18:00,520 --> 00:18:02,840 what's applied. Hashing. 331 00:18:02,880 --> 00:18:06,840 Specific integrated circuits, which literally basically means 332 00:18:06,840 --> 00:18:10,280 the TLDR. It's just a computer that all it does does one 333 00:18:10,280 --> 00:18:12,680 specific thing and that is mine, Bitcoin. 334 00:18:12,680 --> 00:18:16,440 It just spits out big numbers and hopefully finds a needle in 335 00:18:16,440 --> 00:18:18,800 a haystack. Anyways, let's look at this hash 336 00:18:18,800 --> 00:18:21,520 rate chart here. I'm over at bitinfocharts.com. 337 00:18:22,000 --> 00:18:24,680 A great website though guys don't mind all the shit coinery 338 00:18:24,680 --> 00:18:27,480 on the website, but there's a lot of good data here that some 339 00:18:27,480 --> 00:18:29,640 other websites don't have. I was going to pull up mempool 340 00:18:29,640 --> 00:18:32,960 dot space but it didn't go far. It didn't go back enough far 341 00:18:32,960 --> 00:18:35,240 enough, so I'm over here on bit info charts. 342 00:18:35,520 --> 00:18:40,040 And again, I don't know exactly when this video was aired, so 343 00:18:40,040 --> 00:18:43,600 I'm gonna give you kind of a range of what the hash rate was 344 00:18:43,600 --> 00:18:49,120 in 2013. So we got here in January, here 345 00:18:49,120 --> 00:18:53,640 we'll go January 1st. The Bitcoin hash rate was at 346 00:18:53,720 --> 00:19:01,880 24.33 Tera hash and by the end of the year we were at roughly 347 00:19:01,880 --> 00:19:06,400 we'll go 10 PETA hash and Chris will do more of the analytics 348 00:19:06,400 --> 00:19:09,800 here. But of what Tera hash versus 349 00:19:09,800 --> 00:19:12,440 PETA hash is, I'm sure Chris knows this stuff 'cause he's got 350 00:19:12,440 --> 00:19:16,680 that autistic gene in him where he can correct me and Fact Check 351 00:19:16,680 --> 00:19:19,840 me on stuff. But anyways, where is the hash 352 00:19:19,840 --> 00:19:21,720 rate today? And you can see the chart like 353 00:19:21,720 --> 00:19:25,160 it was minimal here, like you can't even see where it was up 354 00:19:25,160 --> 00:19:28,680 until 2017 or 2018. And then it started to run. 355 00:19:28,880 --> 00:19:32,480 And you can see that the last kind of numbers we today we said 356 00:19:32,480 --> 00:19:34,880 it was roughly around 600 XA hashes. 357 00:19:35,520 --> 00:19:38,640 The highest number we got so far, at least on this chart, is 358 00:19:38,640 --> 00:19:41,160 around. I think it was 720. 359 00:19:41,560 --> 00:19:45,720 Yeah, 727 XA hashes, which just means the Bitcoin network has 360 00:19:45,720 --> 00:19:50,080 absolutely got nuclear. It's the strongest supercomputer 361 00:19:50,080 --> 00:19:52,600 in the world. And let's see. 362 00:19:52,600 --> 00:19:54,920 OK, Chris. So Chris in the chat says the 363 00:19:54,920 --> 00:19:59,840 2013 price of one Bitcoin was 201 dollars. 364 00:19:59,840 --> 00:20:02,040 Obviously, we don't know the. Exact date, I actually have the 365 00:20:02,040 --> 00:20:05,360 range. So from 2013, if you're buying 366 00:20:05,360 --> 00:20:09,880 in January 1, it was around $19.00 per per Bitcoin. 367 00:20:10,120 --> 00:20:13,160 And then towards the September, October time frame is when the 368 00:20:13,160 --> 00:20:16,480 bull market really began or the peak of the bull market was just 369 00:20:16,480 --> 00:20:19,440 over $1000. So somewhere between $20 and 370 00:20:19,440 --> 00:20:24,080 $1000 was 2013 basically. Incredible. 371 00:20:24,080 --> 00:20:28,400 So even at the time, the Bitcoin miners out there were investing 372 00:20:28,400 --> 00:20:33,320 more infrastructure to, you know, to receive Bitcoin. 373 00:20:33,320 --> 00:20:37,640 What you spent $800, it's going to take you, I don't know, a 374 00:20:37,640 --> 00:20:41,720 couple of months to recoup those those investments. 375 00:20:41,880 --> 00:20:46,960 You're getting anywhere from what, $21 to $200 in Bitcoin a 376 00:20:46,960 --> 00:20:50,200 day. So still an investment in 377 00:20:50,200 --> 00:20:53,240 Bitcoin mining infrastructure, but at the time, you could mine 378 00:20:53,240 --> 00:20:56,160 Bitcoin off a computer. Now you have to buy an ASIC, You 379 00:20:56,160 --> 00:21:00,360 have to buy a specific machine, a specific extra strong computer 380 00:21:00,520 --> 00:21:02,600 to mine Bitcoin. And as we're going to see in the 381 00:21:02,600 --> 00:21:06,480 news, it's not just individuals, it's not just corporations. 382 00:21:06,480 --> 00:21:09,840 Now we're seeing that nation states are getting into the 383 00:21:09,840 --> 00:21:11,960 game. We saw Bhutan talk about mining 384 00:21:11,960 --> 00:21:14,800 Bitcoin. We saw, you know, Paraguay right 385 00:21:14,800 --> 00:21:17,800 now is kind of in the midst of fighting Bitcoin mining. 386 00:21:18,000 --> 00:21:20,800 We've seen Ecuador. We know Venezuela was getting 387 00:21:20,800 --> 00:21:24,840 into the Bitcoin mining game. So the game theory of Bitcoin 388 00:21:24,840 --> 00:21:29,880 mining is taking on at new levels, and really the TLDR is 389 00:21:29,880 --> 00:21:34,200 just Bitcoin is maturing. Yeah, and look, XX50X in one 390 00:21:34,200 --> 00:21:35,640 year. Just just love to see it. 391 00:21:35,640 --> 00:21:36,320 Love to see it. All right. 392 00:21:36,360 --> 00:21:38,240 Chris, what's your thoughts on all this? 393 00:21:38,880 --> 00:21:41,440 I mean, I think it's crazy when you're looking at the hash rate 394 00:21:41,440 --> 00:21:43,560 charts, OPTI, if you want to actually pull that up right now, 395 00:21:43,560 --> 00:21:46,760 the hash rate charts again from bit info charts. 396 00:21:46,760 --> 00:21:51,520 I got you. So January 1, like around the 397 00:21:51,520 --> 00:21:55,120 beginning of January of 20/13/21 Tera hashes. 398 00:21:55,120 --> 00:21:58,880 I mean an S9 runs at about 14 to 15 Tera hashes. 399 00:21:59,160 --> 00:22:03,160 So at the time of the network, 1 1/2 S nines would be more 400 00:22:03,280 --> 00:22:06,280 computing power and that would all that would be required to 401 00:22:06,280 --> 00:22:08,360 basically 51% attack the network. 402 00:22:08,800 --> 00:22:11,440 Towards the tail end of the year they're getting, I saw like 403 00:22:11,440 --> 00:22:14,240 about 10 PETA hashes. So I think a PETA hash, if 404 00:22:14,240 --> 00:22:17,200 you're thinking of S nineteens, that's I know there's the S 20 405 00:22:17,200 --> 00:22:19,600 ones and there's the new machines from what's minor. 406 00:22:19,760 --> 00:22:23,600 But you if you think of an S19 is about 100 Tera hashes per 407 00:22:23,600 --> 00:22:25,840 second, a PETA hash is 1000 Tera hashes. 408 00:22:25,840 --> 00:22:28,200 So that's 10 machines. So ten of those would be about 409 00:22:28,200 --> 00:22:30,840 100 S 19. So you can see the growth of the 410 00:22:30,840 --> 00:22:34,520 network just from like 1 1/2 S nineteens at in the beginning of 411 00:22:34,520 --> 00:22:38,200 the year to about the equivalent of 100 S nineteens. 412 00:22:38,600 --> 00:22:42,880 I know that the network and obviously the growth of the 413 00:22:42,880 --> 00:22:45,040 price. I know there's a quote that Max 414 00:22:45,040 --> 00:22:49,920 Kaiser always says that price always follows hash rate. 415 00:22:50,480 --> 00:22:53,280 And I know we've kind of seen in the the years past like normally 416 00:22:53,280 --> 00:22:55,600 Tarrant, like the hash rate starts going up and then 417 00:22:55,600 --> 00:22:58,040 eventually you know the bull market comes or the having comes 418 00:22:58,160 --> 00:23:01,360 and then 6 to 18 months after that the price normally spikes 419 00:23:01,360 --> 00:23:03,560 up to it. We either hit a blow off top or 420 00:23:03,560 --> 00:23:07,440 I know 20/21 or 20/20/21 was kind of a weird year with China 421 00:23:07,480 --> 00:23:09,640 banning hash rate. So we kind of went down and I 422 00:23:09,640 --> 00:23:13,120 know Nikko always brings up that if China didn't ban hash rate we 423 00:23:13,120 --> 00:23:15,600 probably would have seen higher prices in USD terms. 424 00:23:15,800 --> 00:23:19,200 But yeah, I think, I think it's kind of just it's the the state 425 00:23:19,200 --> 00:23:21,280 of the network and it's crazy how far we've come and you know, 426 00:23:21,280 --> 00:23:26,320 over a decade at this point. Yeah, and I I know I'm, I'm 427 00:23:26,320 --> 00:23:29,040 blanking on who it is. But someone in the chat always, 428 00:23:29,120 --> 00:23:32,760 always trolls us. That says, and I I'm, I'm 429 00:23:32,760 --> 00:23:34,800 missing. I'm forgetting what the next 430 00:23:34,800 --> 00:23:37,880 move after EXA hashes. But he's like we're we're going 431 00:23:37,880 --> 00:23:39,640 to 1000 EXA hashes. What? 432 00:23:39,640 --> 00:23:41,800 What's the next one? Is that a hash I? 433 00:23:41,840 --> 00:23:44,000 Think it's Zeta hash? Yeah, we're going to one Zeta 434 00:23:44,000 --> 00:23:46,840 hash in 2024. We'll see if that happens. 435 00:23:46,920 --> 00:23:49,880 We, I think I did see Marshall Long this morning say who's like 436 00:23:49,880 --> 00:23:55,000 an OG Bitcoin miner saying that the hash rate has kind of we 437 00:23:55,000 --> 00:23:58,000 probably topped out for a little bit until the end of the year. 438 00:23:58,000 --> 00:24:01,280 So it's going to be very interesting to see how much hash 439 00:24:01,280 --> 00:24:03,560 rate can actually go on the network. 440 00:24:03,560 --> 00:24:05,200 Anyways, Sat, what's your thoughts on this? 441 00:24:06,120 --> 00:24:11,600 It's kind of crazy in 2013, winter 2013 and 2014. 442 00:24:11,600 --> 00:24:18,880 That's when I got orange peeled and in 2014 that's when I began 443 00:24:18,880 --> 00:24:22,160 mining with a small ASIC about like this big. 444 00:24:22,760 --> 00:24:25,960 You could buy them on eBay. They would just fit right into 445 00:24:25,960 --> 00:24:32,760 the back of your computer. And I I mined through slush pool 446 00:24:33,520 --> 00:24:37,720 and by today's standards I got non trivial amounts right. 447 00:24:38,040 --> 00:24:41,360 I think the withdrawal limit from the pool at that time was 448 00:24:41,360 --> 00:24:44,240 like 1/10 of a Bitcoin. So once you got up to 1/10 of a 449 00:24:44,240 --> 00:24:49,480 Bitcoin, you could withdraw out wild stuff. 450 00:24:49,800 --> 00:24:54,160 I was thinking everybody who's just coming into Bitcoin today, 451 00:24:54,440 --> 00:24:59,440 you guys are all so lucky. The reason is, is that you don't 452 00:24:59,440 --> 00:25:03,640 have all these regrets about all the bad decisions that you made 453 00:25:04,960 --> 00:25:09,680 about Bitcoin in the past. Like, I first heard about it in 454 00:25:09,680 --> 00:25:13,840 2011 and I considered mining with a lab of 60 computers 455 00:25:13,840 --> 00:25:17,600 because I was an IT guy, but I never did. 456 00:25:18,120 --> 00:25:20,680 And so you end up with all these regrets. 457 00:25:20,680 --> 00:25:23,560 Every time you hear a story like this, it brings up all the 458 00:25:23,560 --> 00:25:26,560 regrets. So you, the new people today. 459 00:25:27,040 --> 00:25:32,760 Welcome to the network, and may your regrets be really minimal. 460 00:25:33,760 --> 00:25:36,200 Yeah, totally. I I I completely agree with 461 00:25:36,200 --> 00:25:39,280 that. Sat like I think it's the best 462 00:25:39,280 --> 00:25:41,760 time to buy Bitcoin. Obviously we all wish we were 463 00:25:41,760 --> 00:25:47,120 buying Bitcoin at like a dollar or a penny or $100, a $1000. 464 00:25:47,280 --> 00:25:50,200 You know, when I got into Bitcoin at $10,000, like I 465 00:25:50,200 --> 00:25:52,360 thought I was late to Bitcoin and I was still like, man, I 466 00:25:52,360 --> 00:25:54,240 wish I could have bought some at $1000. 467 00:25:54,680 --> 00:26:00,760 But the time that it took from 2017 to now, not only have I 468 00:26:00,760 --> 00:26:05,200 made every mistake in Bitcoin, but I've wrecked myself and now 469 00:26:05,200 --> 00:26:07,800 I had to do most of that stuff alone like that. 470 00:26:07,800 --> 00:26:11,320 We didn't have the Bitcoin only education platforms that we have 471 00:26:11,320 --> 00:26:13,080 now. We didn't have the Bitcoin only 472 00:26:13,080 --> 00:26:16,600 signal out there. You had to pretty much wreck 473 00:26:16,600 --> 00:26:18,200 yourself. You had to have go through the 474 00:26:18,200 --> 00:26:21,240 trial and tribulations. You had to pay your fee of 475 00:26:21,240 --> 00:26:23,840 tuition to actually make it to this point. 476 00:26:23,840 --> 00:26:27,320 And now there's so much good education out there that you can 477 00:26:27,320 --> 00:26:31,120 avoid most of the headaches If you kind of just listen to what 478 00:26:31,120 --> 00:26:34,520 we tell you every single day. It's like look, buy Bitcoin or 479 00:26:34,520 --> 00:26:38,280 work for Bitcoin or mine Bitcoin doesn't matter if you buy it on 480 00:26:38,280 --> 00:26:41,800 a on an exchange or if you buy KYC free. 481 00:26:42,080 --> 00:26:46,720 What matters is you take Bitcoin into cold storage, make sure you 482 00:26:46,720 --> 00:26:49,800 are taking that Bitcoin into a hardware wallet, make sure 483 00:26:49,800 --> 00:26:53,200 you're securing your seed phrase on something more than paper and 484 00:26:53,200 --> 00:26:55,440 then just keep stacking. That's the only thing you have 485 00:26:55,440 --> 00:26:58,360 to do. Avoid shit coins, just continue 486 00:26:58,360 --> 00:27:01,080 to stack in Bitcoin. And now we have this whole army 487 00:27:01,080 --> 00:27:04,480 of bitcoiners out there that are all on the mission, that are all 488 00:27:04,480 --> 00:27:07,880 fervent bitcoiners that will help you keep your head in the 489 00:27:07,880 --> 00:27:10,560 game so you understand exactly what you're doing here. 490 00:27:10,800 --> 00:27:13,080 And looking back, people are going to look at us and be like, 491 00:27:13,200 --> 00:27:16,520 man, I wish I was buying Bitcoin at 60 K Anyways, jump in SAT. 492 00:27:17,520 --> 00:27:21,080 You know, keep studying as well. It's an ongoing process. 493 00:27:21,080 --> 00:27:23,520 You never actually understand Bitcoin. 494 00:27:23,520 --> 00:27:27,320 You just kind of get revealed new truths about Bitcoin or the 495 00:27:27,320 --> 00:27:32,360 story of Bitcoin. It's it's really very amazing. 496 00:27:32,920 --> 00:27:36,320 I've been since first exposure till now. 497 00:27:36,800 --> 00:27:39,520 What is this like 12 years or something? 498 00:27:39,840 --> 00:27:44,520 And every day I I learned something new about this thing 499 00:27:44,520 --> 00:27:47,360 that is Bitcoin. That just really amazes me. 500 00:27:47,800 --> 00:27:52,440 And like Opti was saying, man, back in the day, you were a lone 501 00:27:52,600 --> 00:27:54,960 weirdo when you got into this stuff. 502 00:27:55,280 --> 00:27:59,680 And every mistake that you could make, you did make, you know, I 503 00:27:59,680 --> 00:28:04,040 don't know, 1 Bitcoiner out there, no matter how famous they 504 00:28:04,040 --> 00:28:06,840 are, who didn't make all these mistakes? 505 00:28:07,160 --> 00:28:10,360 I mean, take Michael Saylor. You know, he used to fucking 506 00:28:10,360 --> 00:28:13,240 totally rag on Bitcoin back in the day, right? 507 00:28:13,640 --> 00:28:15,760 And now he's like Bitcoin Messiah. 508 00:28:18,080 --> 00:28:19,880 Yeah. So just keep studying. 509 00:28:20,240 --> 00:28:25,200 There's always more to learn. And thank Satoshi for the echo 510 00:28:25,200 --> 00:28:28,000 chamber. I love the echo chamber. 511 00:28:30,680 --> 00:28:33,080 Love it. Yeah, man, the the echo chamber 512 00:28:33,080 --> 00:28:35,440 is strong. Sometimes you gotta break out of 513 00:28:35,440 --> 00:28:38,160 the echo chamber. But the echo chamber is strong. 514 00:28:38,160 --> 00:28:39,080 Absolutely. Love it. 515 00:28:39,320 --> 00:28:42,960 All right, guys, before we move on to today's news story, I do 516 00:28:42,960 --> 00:28:46,840 want to plug our boys Anders Pleb party in Nashville. 517 00:28:47,040 --> 00:28:52,640 We are taking over a rustic old automobile warehouse for the 518 00:28:52,640 --> 00:28:54,920 Pleb Party in Nashville July 25th. 519 00:28:54,920 --> 00:28:58,720 It's going to be 12 hours. I repeat, 12 hours of partying, 520 00:28:58,720 --> 00:29:03,360 open bar, all you can eat, food. If you're going to Bitcoin 521 00:29:03,360 --> 00:29:07,000 Nashville and you get there the day before the conference, make 522 00:29:07,000 --> 00:29:09,480 sure you get yourself a ticket because everyone's going to be 523 00:29:09,480 --> 00:29:10,680 there. All your boys are going to be 524 00:29:10,680 --> 00:29:12,280 there. Everyone who's anyone's going to 525 00:29:12,280 --> 00:29:14,520 be there just having fun. You can see some confirmed 526 00:29:14,520 --> 00:29:17,280 guests as Lawrence Lapar, James Lavish Preston Pish, Robert 527 00:29:17,280 --> 00:29:20,600 Breedlove, Natalie Burnell, Mark Moss, the whole Simply Bitcoin 528 00:29:20,600 --> 00:29:22,480 team. We got the BTC Prague team and 529 00:29:22,480 --> 00:29:26,560 of course Tatum turn up and Pub Lord and Anders will be there 530 00:29:26,560 --> 00:29:31,000 guys, and I can confirm that Andres knows how to throw a good 531 00:29:31,000 --> 00:29:33,080 party. So you definitely want to be 532 00:29:33,080 --> 00:29:35,680 there and hang out with everyone that this is the way. 533 00:29:36,080 --> 00:29:40,000 All right, guys, let's get in to the news for today. 534 00:29:43,040 --> 00:29:47,040 The Daily News. I want to give a shout out to 535 00:29:47,040 --> 00:29:51,400 our sponsor, Foundation Devices. 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Bitcoin only, open source, 547 00:30:27,240 --> 00:30:31,200 verifiable completely air gap security model, gorgeous design, 548 00:30:31,200 --> 00:30:34,520 craft premium grade materials. If you're thinking about getting 549 00:30:34,520 --> 00:30:37,400 your Bitcoin off exchange, this is the one for you. 550 00:30:37,600 --> 00:30:40,800 Check out the passport link in the show notes below to learn 551 00:30:40,800 --> 00:30:44,240 more. Guys, I I keep forgetting to 552 00:30:44,280 --> 00:30:47,240 make Nikko redo the ad. Don't think about taking your 553 00:30:47,240 --> 00:30:50,080 Bitcoin off exchanges. It's literally the most 554 00:30:50,080 --> 00:30:53,320 important step of buying Bitcoin is taking your Bitcoin off an 555 00:30:53,320 --> 00:30:55,280 exchange. And I absolutely love the 556 00:30:55,280 --> 00:30:58,240 passport by foundation connected with Envoy. 557 00:30:58,240 --> 00:31:00,560 It's super easy. You you guys will love it too if 558 00:31:00,560 --> 00:31:02,400 you haven't used it. It's literally grandma friendly, 559 00:31:02,400 --> 00:31:04,560 and it's actually rather it's Opti friendly. 560 00:31:04,880 --> 00:31:07,560 If if it's Opti friendly, then you know it's a good Harvard 561 00:31:07,560 --> 00:31:09,520 wallet. All right, guys, so let's get 562 00:31:09,520 --> 00:31:13,480 into the news story. As we as you can tell from the 563 00:31:13,480 --> 00:31:18,520 title, Argentina is doubling down on their Bitcoin mining. 564 00:31:18,520 --> 00:31:22,040 So we got this great article from our boy Javier Bastardo. 565 00:31:22,360 --> 00:31:27,400 He wrote an article for Forbes and so I used that as a jump off 566 00:31:27,400 --> 00:31:31,520 point and I got to the actual press release here and I'm over 567 00:31:31,520 --> 00:31:35,960 on genesisdigitalassets.com AKAGDA and it goes. 568 00:31:35,960 --> 00:31:39,840 GDA partners with YPF lose to launch a Bitcoin mining center 569 00:31:39,840 --> 00:31:43,480 in Argentina powered with repurposed flared gas. 570 00:31:43,920 --> 00:31:45,960 And I'm I'm not going to read the whole thing, but there's 571 00:31:45,960 --> 00:31:47,640 some really good insights into here. 572 00:31:47,640 --> 00:31:52,560 And I think we talk about this all the time, but it's never 573 00:31:52,560 --> 00:31:56,480 enough to just continue to spread the information on 574 00:31:56,480 --> 00:31:58,080 Bitcoin. Sometimes when it comes from 575 00:31:58,080 --> 00:32:00,280 certain sources, you're like, oh, OK, that makes sense. 576 00:32:00,280 --> 00:32:03,800 It's not just Youtubers or random Bitcoin cult members that 577 00:32:03,800 --> 00:32:06,400 are trying to spread narratives about Bitcoin. 578 00:32:06,560 --> 00:32:11,280 When someone has a financial incentive to mine Bitcoin and 579 00:32:11,280 --> 00:32:14,760 talk about Bitcoin not only helping the environment, but 580 00:32:14,760 --> 00:32:17,680 helping out their company at large, you should be listening. 581 00:32:17,680 --> 00:32:21,120 So again, let's get into this article a little bit and I 582 00:32:21,120 --> 00:32:22,560 highlighted the parts that I want to touch on. 583 00:32:22,560 --> 00:32:26,520 So Genesis Digital Assets Limited, AKA GDA has announced 584 00:32:26,520 --> 00:32:29,960 the opening of a new data center in Argentina powered by YPF, 585 00:32:29,960 --> 00:32:33,200 Lu's leading company in electric power generation. 586 00:32:33,440 --> 00:32:36,040 First things first, it's interesting that they're using 587 00:32:36,040 --> 00:32:39,600 the the Meme new data center instead of Bitcoin mining 588 00:32:39,600 --> 00:32:42,120 operation. I think that's just, you know 589 00:32:42,120 --> 00:32:45,160 just an easier way to get the information out there. 590 00:32:45,400 --> 00:32:50,400 And we've seen this happen a lot that if you start to talk about 591 00:32:50,560 --> 00:32:55,360 data centers, it doesn't have that like icky oh bad framing of 592 00:32:55,360 --> 00:32:58,400 Bitcoin mining because like what are they going to do, shut down 593 00:32:58,400 --> 00:33:01,840 Amazon's data centers or Google's data centers? 594 00:33:02,080 --> 00:33:04,960 It's like, OK, they're like, yeah, we need data centers. 595 00:33:04,960 --> 00:33:07,280 This is great. Anyways, the company's first 596 00:33:07,280 --> 00:33:11,480 facility in South America is located in Rincon de la Sauces 597 00:33:11,480 --> 00:33:14,280 in the Nekking. I don't know how to say that the 598 00:33:14,280 --> 00:33:18,280 Nekwin province and has a total capacity of seven megawatts and 599 00:33:18,280 --> 00:33:21,320 one megawatts of backup. The Baja, that storal thermal 600 00:33:21,320 --> 00:33:25,800 power plant composed of YPF, Equinor and YPF lose willpower 601 00:33:25,800 --> 00:33:30,400 1200 Bitcoin mining machines and efficiently monetize stranded 602 00:33:30,400 --> 00:33:34,200 gas. I repeat, officially monetize 603 00:33:34,200 --> 00:33:37,320 stranded gas which would otherwise be flared into the 604 00:33:37,320 --> 00:33:39,800 atmosphere. Literally, it would just go into 605 00:33:39,800 --> 00:33:42,320 the environment. And This is why we love bringing 606 00:33:42,320 --> 00:33:45,840 examples like this is because Greenpeace out there or you 607 00:33:45,840 --> 00:33:49,480 know, even your favorite politician or bureaucrat out 608 00:33:49,480 --> 00:33:51,840 that your favorite talking head out there would say like, oh, 609 00:33:51,840 --> 00:33:55,800 Bitcoin mining is ruining the environment when it's literally 610 00:33:55,920 --> 00:33:59,960 reducing carbon emissions. But let's not play the ESG games 611 00:33:59,960 --> 00:34:02,200 here. Let's just get to the facts. 612 00:34:02,320 --> 00:34:05,640 With an abundance of energy, a favorable political climate and 613 00:34:05,640 --> 00:34:09,280 a strong crypto ethos, Argentina is becoming increasingly 614 00:34:09,280 --> 00:34:11,760 important for Bitcoin mining and the broader industry. 615 00:34:11,960 --> 00:34:14,960 For this data center, GDA will use the electricity generated 616 00:34:14,960 --> 00:34:19,000 from stranded gas provided by YPF, Lose, an electric power 617 00:34:19,000 --> 00:34:21,520 generation company that has been leading the energy transition 618 00:34:21,520 --> 00:34:24,600 since 2013. So and then this next article, 619 00:34:24,600 --> 00:34:26,080 it kind of goes into a little bit of data. 620 00:34:26,080 --> 00:34:28,920 It is a little kind of ESG frame guys. 621 00:34:28,920 --> 00:34:31,600 So you know, forgive them, but they're playing the corporate 622 00:34:31,600 --> 00:34:32,719 game. You can't really blame them. 623 00:34:33,000 --> 00:34:37,840 So methane gas adversely impacts the environment as it is 624 00:34:37,840 --> 00:34:41,239 responsible for approximately 1/3 of the warming the world has 625 00:34:41,239 --> 00:34:44,639 experiences. As stated in an MIT working 626 00:34:44,639 --> 00:34:48,360 paper, Bitcoin mining could potentially reduce between 25% 627 00:34:48,600 --> 00:34:53,360 and 63% of carbon dioxide equivalent CO2 E emissions by 628 00:34:53,360 --> 00:34:57,560 repurposing methane gas. And then this is kind of I think 629 00:34:57,560 --> 00:35:01,440 the chunk and and the meat of this press release is some of 630 00:35:01,440 --> 00:35:06,880 these quotes here. So we have Abdul Malik, Marek 631 00:35:06,920 --> 00:35:10,320 Medov, sorry bro, Executive President of G Diego. 632 00:35:10,440 --> 00:35:13,360 We believe that Argentina is an important country for Bitcoin 633 00:35:13,360 --> 00:35:16,680 mining given its abundance of energy resources and business 634 00:35:16,680 --> 00:35:19,480 friendly environment. The opening of our first data 635 00:35:19,480 --> 00:35:22,600 center in South America is an important step in our geographic 636 00:35:22,600 --> 00:35:26,320 diversification efforts and this will be yet another opportunity 637 00:35:26,320 --> 00:35:29,040 to show the world that Bitcoin mining can have a a positive 638 00:35:29,040 --> 00:35:32,520 effect on the environment and can be fully integrated in local 639 00:35:32,520 --> 00:35:35,200 communities. With GDA utilizing the stranded 640 00:35:35,200 --> 00:35:39,720 gas, YPF and ECUINOR can offset its related costs and contribute 641 00:35:39,720 --> 00:35:43,120 to positive environmental changes which ultimately could 642 00:35:43,120 --> 00:35:45,440 result in lower oil prices in the region. 643 00:35:45,600 --> 00:35:48,720 And GDA in turn will access energy sources that are both 644 00:35:48,720 --> 00:35:52,600 competitively priced and reduced as global carbon emissions. 645 00:35:52,760 --> 00:35:56,400 In 2022, we were the first Argentine company to generate 646 00:35:56,400 --> 00:36:00,120 electrical energy for cryptocurrency from Flare Flare 647 00:36:00,120 --> 00:36:03,800 Gas, an innovative solution in line with YP FS energy 648 00:36:03,800 --> 00:36:08,320 transition needs, said Martin Mondarano, CEO of YPF Lose. 649 00:36:08,520 --> 00:36:12,440 This project with GDA allows us to bring YPF and Equinor, two 650 00:36:12,440 --> 00:36:15,600 companies committed to reducing the carbon footprint of their 651 00:36:15,600 --> 00:36:18,760 exploration activities in adaptable and sustainable flare 652 00:36:18,760 --> 00:36:22,760 gas use solution. And there is a good couple 653 00:36:22,760 --> 00:36:26,480 quotes on the Forbes article by Javier, so I do want to mention 654 00:36:26,480 --> 00:36:29,920 those. We got here Executive President 655 00:36:29,920 --> 00:36:33,440 again, I I'm, I don't want to butcher your name again, but 656 00:36:33,440 --> 00:36:36,440 Abdul Malik and it goes. Although we've been considering 657 00:36:36,440 --> 00:36:39,040 expanding to Argentina for years, the political and pro 658 00:36:39,040 --> 00:36:41,680 innovation climate the country has fostered for crypto and 659 00:36:41,680 --> 00:36:44,640 Bitcoin specifically has never been strong, stronger than 660 00:36:44,640 --> 00:36:46,840 today. There's also a large percentage 661 00:36:46,840 --> 00:36:49,560 of the population in Argentina that already uses crypto 662 00:36:49,560 --> 00:36:52,520 currencies and stable coins ahead against high inflation. 663 00:36:52,760 --> 00:36:56,320 The bottom line is that crypto is a solution to these problems 664 00:36:56,520 --> 00:36:59,040 and we're seeing that fact recognized by countries 665 00:36:59,040 --> 00:37:02,200 throughout Central and South America. 666 00:37:02,400 --> 00:37:06,520 And then this great great point by Javier goes, the new facility 667 00:37:06,520 --> 00:37:10,120 showcases 2 important elements of Bitcoin mining's potential. 668 00:37:10,320 --> 00:37:13,120 On the one hand, it helps mitigate the direct impact of 669 00:37:13,120 --> 00:37:16,320 stranded gas on the environment. However, other mitigation 670 00:37:16,320 --> 00:37:19,800 techniques don't include the 2nd element, using these wasted 671 00:37:19,800 --> 00:37:23,440 resources to make some valuable return, in this case through 672 00:37:23,600 --> 00:37:27,280 BTC, which I absolutely love because guys, we're capitalists 673 00:37:27,280 --> 00:37:30,720 here and nothing gets done if there's no incentive for money. 674 00:37:30,720 --> 00:37:35,200 So hey, if we get to help the environment and also win on all 675 00:37:35,200 --> 00:37:39,600 fronts, But again, those footsters and green pieces of 676 00:37:39,600 --> 00:37:42,880 the world will never say this. They're just saying like, oh, 677 00:37:42,880 --> 00:37:46,040 it's using up too much energy and it's going to use up all the 678 00:37:46,040 --> 00:37:48,400 energy of the world. And it's stealing energy from 679 00:37:48,400 --> 00:37:52,000 needy people in Argentina, when in reality it's using energy 680 00:37:52,000 --> 00:37:54,480 that wouldn't be used at all. It would literally go up into 681 00:37:54,480 --> 00:37:57,920 the environment and harm the ecosystem at large. 682 00:37:57,960 --> 00:38:00,480 But hey, no one cares about the facts anyways. 683 00:38:00,480 --> 00:38:02,400 I do want to touch on a few points here. 684 00:38:03,040 --> 00:38:05,960 Of course you guys can troll me about going to Wikipedia, but 685 00:38:05,960 --> 00:38:07,560 hey it it's a good sentence here. 686 00:38:07,560 --> 00:38:11,400 And then this is just to double down on the idea that this isn't 687 00:38:11,400 --> 00:38:16,040 just a private corporation that is looking to make some profits. 688 00:38:16,240 --> 00:38:20,360 They are a as you can see vertically integrated majority 689 00:38:20,360 --> 00:38:24,080 state owned Argentine energy company engage in oil and gas 690 00:38:24,080 --> 00:38:27,080 exploration and production and the transportation, refining and 691 00:38:27,080 --> 00:38:29,160 marketing of gas and petroleum products. 692 00:38:29,480 --> 00:38:34,080 And our Twitter team doubled down and dug into the the facts 693 00:38:34,080 --> 00:38:37,720 here and it's Argentina's largest state owned electricity 694 00:38:37,720 --> 00:38:42,440 producer that has now partnered with Genesis Digital Assets. 695 00:38:44,200 --> 00:38:48,040 To mine Bitcoin with. Flared gas, you absolutely love 696 00:38:48,040 --> 00:38:49,360 it. And so I went to their website 697 00:38:49,360 --> 00:38:52,600 and looked at you know how much energy are they producing and 698 00:38:52,600 --> 00:38:54,280 how much electricity are they producing. 699 00:38:54,280 --> 00:38:55,920 And you can see here I highlighted. 700 00:38:55,920 --> 00:38:59,880 So I don't know when this was last updated, but you can see 701 00:38:59,880 --> 00:39:05,000 from the website that YPF lose themselves generate 9% of 702 00:39:05,000 --> 00:39:10,080 Argentines electrical energy. So this isn't just a small off 703 00:39:10,080 --> 00:39:14,840 the grid energy producer that is now you know, thinking about 704 00:39:14,840 --> 00:39:17,520 making sure that the profits are good, that they're minimizing 705 00:39:17,520 --> 00:39:21,560 their carbon emissions. This is one of the largest state 706 00:39:21,560 --> 00:39:26,200 owned energy companies in Argentina that is doubling down 707 00:39:26,200 --> 00:39:29,600 on mining Bitcoin. Obviously they're looking at it 708 00:39:29,600 --> 00:39:34,040 in the idea of, hey, we got to reduce carbon emissions and this 709 00:39:34,040 --> 00:39:36,760 is good for our company, this is good for the environment. 710 00:39:36,920 --> 00:39:41,000 But also, hey, the double profit or the the double win of 711 00:39:41,000 --> 00:39:45,520 profiting off their flared gas that literally would go off into 712 00:39:45,560 --> 00:39:48,480 the environment, be wasted money and now they get to stack 713 00:39:48,480 --> 00:39:50,280 Bitcoin. So it's gonna be interesting to 714 00:39:50,280 --> 00:39:54,520 see what their Bitcoin strategy is moving forward and who else 715 00:39:54,520 --> 00:39:57,000 follows Sue. Whether we see other countries 716 00:39:57,000 --> 00:40:01,280 in Latin America follow Sue and use, you know, excess energy, 717 00:40:01,280 --> 00:40:04,600 stranded energy, maybe undiscovered energy, and start 718 00:40:04,600 --> 00:40:08,280 to use Bitcoin miners or a six to mine Bitcoin. 719 00:40:08,360 --> 00:40:11,720 And the game theory is playing out and anyone with cheap 720 00:40:11,720 --> 00:40:15,400 energy, anyone with stranded energy, anyone with undiscovered 721 00:40:15,400 --> 00:40:19,440 energy, you're going to see that Bitcoin miners are gonna go 722 00:40:19,440 --> 00:40:21,080 there because they're incentivized to find the 723 00:40:21,080 --> 00:40:24,120 cheapest energy so that they can increase their profits in 724 00:40:24,120 --> 00:40:27,080 Bitcoin. And I also kind of wanted to 725 00:40:27,080 --> 00:40:29,120 connect this with something I saw on Twitter. 726 00:40:29,120 --> 00:40:32,520 Obviously I don't think this has anything to correlate with this 727 00:40:32,520 --> 00:40:36,840 news here that we saw coming out of Argentina or YPF Lose and 728 00:40:36,840 --> 00:40:40,040 GDA. But I find it very interesting 729 00:40:40,320 --> 00:40:44,240 that this week also what May 6th, I think this is Monday we 730 00:40:44,240 --> 00:40:47,040 have Elon Musk meeting with Javier Malay and he goes, I 731 00:40:47,040 --> 00:40:50,400 recommend investing in Argentina though this is kind of like a 732 00:40:50,400 --> 00:40:53,040 trope. It's kind of a vague tweet here. 733 00:40:53,040 --> 00:40:55,360 Investing in Argentina. Like, what's that even really 734 00:40:55,360 --> 00:40:58,480 mean? I think people are seeing the 735 00:40:58,480 --> 00:41:02,560 writing on the wall that, hey, it looks like Argentina might be 736 00:41:02,560 --> 00:41:07,760 doing some things that will potentially lead their country 737 00:41:07,760 --> 00:41:11,200 into the and we'll see what's happening again. 738 00:41:11,400 --> 00:41:15,320 I recently have been a little skeptical of what Malay is 739 00:41:15,320 --> 00:41:17,520 doing. We we have seen him do a few 740 00:41:17,520 --> 00:41:22,840 missteps, but I think this might be a way of correcting those 741 00:41:22,840 --> 00:41:24,960 missteps and maybe following suit. 742 00:41:26,640 --> 00:41:29,600 Salvador, we'll see what's going on moving forward. 743 00:41:29,600 --> 00:41:33,200 We know that Argentina it is in conversation with the IMF. 744 00:41:33,400 --> 00:41:36,680 We know they're not necessarily just being pro Bitcoin like 745 00:41:36,680 --> 00:41:39,560 Buchelle is, and they're kind of leaning more towards dollarizing 746 00:41:39,560 --> 00:41:42,800 Argentina. And also this morning I saw 747 00:41:42,800 --> 00:41:46,240 another tweet, or rather it was yesterday, sorry yesterday, that 748 00:41:46,240 --> 00:41:49,440 Argentina print a $10,000 peso note. 749 00:41:49,680 --> 00:41:54,000 So there, I don't know man. A lot of crazy stuff going on in 750 00:41:54,000 --> 00:41:58,600 Argentina. Obviously out there is starting 751 00:41:58,600 --> 00:42:03,440 to feel the pain of inflation and we're seeing that they are 752 00:42:03,440 --> 00:42:06,480 doing some things to try to combat that and help their 753 00:42:06,480 --> 00:42:09,240 citizens. But I think moving forward, like 754 00:42:09,240 --> 00:42:13,320 I keep saying, once energy production is is tied to 755 00:42:13,320 --> 00:42:18,440 Bitcoin, that's when the game really goes into OverDrive and 756 00:42:18,440 --> 00:42:23,320 Bitcoin solidifies itself as the money of the world win Petro sat 757 00:42:23,320 --> 00:42:26,000 world I am, I'm waiting for the Petro sat. 758 00:42:26,200 --> 00:42:28,640 I don't think we're there yet. You everyone knows that the 759 00:42:28,640 --> 00:42:32,200 Petro dollar rules the world and this is where we are right now. 760 00:42:32,200 --> 00:42:34,840 So very interesting stuff coming out of Argentina. 761 00:42:35,000 --> 00:42:37,720 But on that note, let's go into Chris because Chris will give us 762 00:42:37,760 --> 00:42:42,480 a little a little more sober analytical takes on everything. 763 00:42:42,480 --> 00:42:44,120 So Chris, what's your thoughts on this? 764 00:42:44,640 --> 00:42:47,280 I mean, I I think it's good. Obviously we talk about using 765 00:42:47,280 --> 00:42:49,480 energy is good, as you said in the beginning episode. 766 00:42:49,480 --> 00:42:52,800 Like using more energy helps humans, helps human flourishing, 767 00:42:52,800 --> 00:42:54,840 helps civilizations, and expand and grow. 768 00:42:55,480 --> 00:42:58,040 You know, I hate when people bastardize the use of energy 769 00:42:58,040 --> 00:42:59,840 use. It's never a good thing. 770 00:43:00,480 --> 00:43:04,480 As for them using methane instead of CO2, obviously that's 771 00:43:04,480 --> 00:43:06,800 good. Methane emits anywhere the the 772 00:43:06,800 --> 00:43:10,280 numbers are kind of fuzzy, but anywhere from 40% or 40 times, 773 00:43:10,280 --> 00:43:13,320 my apologies, 40 times to 70 times more harmful to the 774 00:43:13,320 --> 00:43:16,080 environment than CO2. Actually, CO2 is, contrary to 775 00:43:16,080 --> 00:43:18,560 popular belief, relatively good for the environment. 776 00:43:18,560 --> 00:43:22,040 Obviously plants use CO2 to, as part of their photosynthesis 777 00:43:22,040 --> 00:43:25,920 process, they expel O2 oxygen for us to breathe in. 778 00:43:26,040 --> 00:43:28,360 We dispel CO2 and there's kind of a vicious cycle. 779 00:43:28,960 --> 00:43:31,600 So methane is more harmful, the environment 40 to 70 times 780 00:43:31,600 --> 00:43:33,560 depending on the research, I think. 781 00:43:33,560 --> 00:43:35,760 And and then I'll kind of comment on the Elon of it all. 782 00:43:36,200 --> 00:43:38,600 It's kind of funny that he's saying like invest in Argentina. 783 00:43:38,760 --> 00:43:42,200 I'm thinking like, you know OPTI in you and I's lifetime, 784 00:43:42,200 --> 00:43:45,000 Argentina has had hyperinflation I think five times in their 785 00:43:45,000 --> 00:43:47,400 histories, which is like over the last 30 years or so. 786 00:43:47,560 --> 00:43:51,080 So imagine like Elon's like yo invest in Argentina buy their 787 00:43:51,080 --> 00:43:53,360 government bonds only for you to get dunked on. 788 00:43:53,560 --> 00:43:55,560 Obviously that is a joke, not financial advice. 789 00:43:55,560 --> 00:43:57,320 Don't buy Argentinian. Get debt. 790 00:43:57,320 --> 00:43:59,360 Buy SATS instead. Stack SAT. 791 00:43:59,360 --> 00:44:01,200 Stay humble. Yeah. 792 00:44:01,200 --> 00:44:02,920 So I I think overall it's a good thing. 793 00:44:03,000 --> 00:44:05,000 I think they're trying to compete in the freest and 794 00:44:05,000 --> 00:44:08,880 openest market in the world. And yeah, Bitcoin mining is, 795 00:44:09,040 --> 00:44:13,000 it's a difficult game. It is literally like pure, pure 796 00:44:13,000 --> 00:44:14,760 competition. It's probably the purest form of 797 00:44:14,760 --> 00:44:17,400 competition aside from energy markets themselves. 798 00:44:17,400 --> 00:44:20,040 So obviously they have a large energy provider trying to 799 00:44:20,040 --> 00:44:22,440 provide energy for not just their country, but trying to 800 00:44:22,440 --> 00:44:25,560 make them more robust, more resilient and compete on the 801 00:44:25,560 --> 00:44:27,000 free and open market that is Bitcoin. 802 00:44:27,000 --> 00:44:28,680 So I'll just leave it at that. If there's anything else. 803 00:44:29,560 --> 00:44:31,840 Yeah, I mean. I just, I do wanna add, I did 804 00:44:31,840 --> 00:44:35,880 talk with my boy Alex over at Kaboom Racks. 805 00:44:35,880 --> 00:44:39,960 And to your point of Bitcoin mining being probably one of the 806 00:44:39,960 --> 00:44:43,520 most competitive industries in the world, we're seeing that 807 00:44:43,520 --> 00:44:47,080 there is like there's gonna be a lot of pain in the Bitcoin 808 00:44:47,080 --> 00:44:50,280 mining markets coming up and we're seeing those the the 809 00:44:50,280 --> 00:44:54,480 initial pain hitting those miners, the companies, the solo 810 00:44:54,480 --> 00:44:57,400 miners. It's man, it's gonna get very 811 00:44:57,400 --> 00:45:00,800 interesting. And I just, hey, I think you hit 812 00:45:00,800 --> 00:45:02,440 the nail on the head, Chris, but jump in again. 813 00:45:03,000 --> 00:45:06,360 Yeah, so I know Stephen. Barber, obviously the owner and 814 00:45:06,400 --> 00:45:10,160 and founder of Upstream Data, was kind of saying he he's a 815 00:45:10,200 --> 00:45:12,880 long time Bitcoin miner. He basically posted a chart on 816 00:45:12,880 --> 00:45:15,640 Twitter, I think either this morning or yesterday basically 817 00:45:15,640 --> 00:45:18,200 saying that there's going to be a lot of pain in the Bitcoin 818 00:45:18,200 --> 00:45:19,760 industry. Obviously we had right after the 819 00:45:19,760 --> 00:45:22,320 halving a lot of the runes, ordinals, inscriptions, all of 820 00:45:22,320 --> 00:45:24,320 that like fees were skyrocketing up. 821 00:45:24,320 --> 00:45:27,080 So it actually made sense, even if you had old machines to plug 822 00:45:27,080 --> 00:45:30,000 them in right after the halving, cause a lot of the fees. 823 00:45:30,160 --> 00:45:33,680 I mean, the block of the halving, I think there was 37 824 00:45:33,680 --> 00:45:38,000 Bitcoin in rewards compared to the 3.125 subsidy that was, you 825 00:45:38,000 --> 00:45:41,160 know, just cut in half from 6.25 S right after that, the fees 826 00:45:41,160 --> 00:45:43,200 were skyrocketing. It was a good time to mine, even 827 00:45:43,200 --> 00:45:45,800 if you had old machines, even just for a week or two. 828 00:45:46,160 --> 00:45:48,760 But now that things have settled down and they're not going as 829 00:45:48,760 --> 00:45:51,080 crazy, he's saying there's going to be a lot of pain in the 830 00:45:51,080 --> 00:45:54,480 industry in terms of people having to plug or unplug old 831 00:45:54,480 --> 00:45:57,080 machines. I mean as of right now we have 832 00:45:57,360 --> 00:46:00,320 about 19 hours to our difficulty readjustment, but we're going to 833 00:46:00,320 --> 00:46:04,160 be going down in hacker in difficulty about 6%. 834 00:46:04,160 --> 00:46:06,960 So that's you know a pretty substantial drop in hash rate, 835 00:46:06,960 --> 00:46:09,760 that's hash rate coming off the network obviously not being 836 00:46:09,760 --> 00:46:12,000 competitive and not being able to basically cover their costs 837 00:46:12,000 --> 00:46:14,520 or for whatever reason they're unplugging the machines because 838 00:46:14,520 --> 00:46:16,880 it's less profitable. So yeah, I do think there's 839 00:46:16,880 --> 00:46:19,160 going to be a lot of pain. I I do think that we're going to 840 00:46:19,160 --> 00:46:20,760 equalize. Some Bitcoin miners are probably 841 00:46:20,760 --> 00:46:22,880 going to have to sell Bitcoin to cover their mining costs. 842 00:46:23,120 --> 00:46:25,800 And then you know, if Bitcoin does what it historically does, 843 00:46:25,800 --> 00:46:28,760 6 to 18 months from now, we're going to see a new bull market. 844 00:46:28,880 --> 00:46:31,560 You know the price, the USD denominated price in Bitcoin 845 00:46:31,560 --> 00:46:34,800 will skyrocket up again. And obviously people plug in old 846 00:46:34,800 --> 00:46:37,880 machines or older machines to try and capture as the Fiat 847 00:46:37,880 --> 00:46:41,720 price goes up and their hash price is more economically 848 00:46:41,720 --> 00:46:44,280 feasible. And then the cycle begins again. 849 00:46:44,440 --> 00:46:49,560 A new bull market is among us. But I I. 850 00:46:49,600 --> 00:46:54,600 Think for For those out there watching what what Chris just 851 00:46:54,600 --> 00:46:57,480 said, like what is the actionable advice for you guys 852 00:46:57,480 --> 00:47:00,600 out there. First off, if the price goes 853 00:47:00,600 --> 00:47:03,040 down a little bit because we're seeing some minor selling 854 00:47:03,040 --> 00:47:06,160 pressure, don't get freaked out, don't get shaken out of your 855 00:47:06,160 --> 00:47:10,160 position, just keep stacking. Maybe right now is the time to 856 00:47:10,160 --> 00:47:13,400 build up your dry powder so that when you do see a good dip, 857 00:47:13,640 --> 00:47:16,680 you're able to take good opportunity, you're able to, you 858 00:47:16,680 --> 00:47:18,600 know stack as many sets as possible. 859 00:47:19,000 --> 00:47:22,000 But we're seeing, you know the the classic trope of sell in 860 00:47:22,000 --> 00:47:25,480 Maine go away until later. We're kind of seeing that play 861 00:47:25,480 --> 00:47:27,640 out right now. So we'll see what happens this 862 00:47:27,640 --> 00:47:29,600 summer. We might be crabbing a little 863 00:47:29,600 --> 00:47:32,000 bit during the summer time, but that's just another opportunity 864 00:47:32,000 --> 00:47:33,960 for you guys to stack as many stats as possible. 865 00:47:34,280 --> 00:47:36,640 So none of this has any real effect. 866 00:47:36,640 --> 00:47:40,520 I think like detrimental fact to the Bitcoin network at large. 867 00:47:40,520 --> 00:47:43,080 This is just Bitcoin mining economics playing out in real 868 00:47:43,080 --> 00:47:46,840 time. The Bitcoin mining ecosystem is 869 00:47:46,840 --> 00:47:50,360 very healthy and it's it's it's very efficient at wedding out 870 00:47:50,360 --> 00:47:53,960 unefficient miners and This is why Bitcoin mining is so 871 00:47:53,960 --> 00:47:56,280 competitive. Anyways, let's bring in SAP, 872 00:47:56,400 --> 00:47:58,760 SAP, what's your thoughts on this news coming out of 873 00:47:58,760 --> 00:48:01,560 Argentina? You know Bitcoin is. 874 00:48:01,560 --> 00:48:04,720 Unstoppable. The incentives are such that 875 00:48:04,720 --> 00:48:08,680 everybody ends up joining. It's kind of amazing, you know, 876 00:48:11,640 --> 00:48:12,920 I think. It's a good thing. 877 00:48:12,920 --> 00:48:16,320 That these efficiencies are being gained. 878 00:48:16,720 --> 00:48:20,840 I'm a a big fan of efficiency and so it's awesome to see 879 00:48:20,840 --> 00:48:25,720 people doing things like using flare gas or monetizing flare 880 00:48:25,720 --> 00:48:29,880 gas and all the benefits that arise from that. 881 00:48:29,880 --> 00:48:34,600 You know, I've heard of pig farmers in Mexico that capture 882 00:48:34,600 --> 00:48:39,440 methane at their hog farms, use that to run generators and use 883 00:48:39,440 --> 00:48:42,560 that to mine Bitcoin. It's another great efficiency 884 00:48:42,560 --> 00:48:47,440 gain, but the long and short of the of the idea is that 885 00:48:47,480 --> 00:48:52,320 eventually all people, all organizations of all types, 886 00:48:52,600 --> 00:48:56,400 whether they're governmental or corporate or what have you all, 887 00:48:56,400 --> 00:49:00,720 will join the Bitcoin network. All things will be structured 888 00:49:00,720 --> 00:49:06,040 around Bitcoin because it is the, you know, the the unmovable 889 00:49:06,040 --> 00:49:09,120 truth. So welcome aboard Argentina. 890 00:49:10,280 --> 00:49:12,480 Let's go. Love it sat love it actually 891 00:49:12,920 --> 00:49:15,560 just kind of you know riffing a little bit off what you said 892 00:49:15,560 --> 00:49:19,200 about just the the crazy creative ways that we see 893 00:49:19,200 --> 00:49:23,160 Bitcoin miners getting energy. I've seen them literally turning 894 00:49:23,160 --> 00:49:27,400 manure into energy so that they can mine Bitcoin. 895 00:49:27,400 --> 00:49:31,120 I've seen them burn tires that they can turn into energy and 896 00:49:31,120 --> 00:49:33,760 mine Bitcoin. And this morning I saw I think 897 00:49:33,760 --> 00:49:37,640 it was coming out of Bitcoin news Twitter they someone had 898 00:49:37,640 --> 00:49:41,800 plugged in an ASIC into the back of a the cyber truck and was 899 00:49:41,800 --> 00:49:44,640 using the electricity from the cyber truck to mine. 900 00:49:44,640 --> 00:49:47,520 I think it was like a AS 19 or something like that. 901 00:49:47,800 --> 00:49:50,680 I don't remember what the a CIG was, but yeah, Bitcoin miners 902 00:49:50,880 --> 00:49:55,960 are very creative in finding cheap energy or renewable energy 903 00:49:55,960 --> 00:50:00,160 or stranded energy. And so again, we do our best to 904 00:50:00,160 --> 00:50:03,720 try to combat the BS narratives and and sometimes you got to 905 00:50:03,720 --> 00:50:06,320 just put the facts out there and of course no one really cares 906 00:50:06,320 --> 00:50:07,800 about the facts on mainstream media. 907 00:50:07,800 --> 00:50:11,360 But for you guys watching, it's very important for you to 908 00:50:11,360 --> 00:50:14,680 remember that Bitcoin mining doesn't waste energy. 909 00:50:14,680 --> 00:50:16,640 The Bitcoin network doesn't waste energy. 910 00:50:16,840 --> 00:50:21,040 It's actually, in all reality the most efficient use of 911 00:50:21,040 --> 00:50:22,920 energy. I can't think of a better use of 912 00:50:22,920 --> 00:50:28,200 energy than securing the most debasement, proof, censorship 913 00:50:28,200 --> 00:50:32,120 resistant money in the world. This is why we do what we do is 914 00:50:32,120 --> 00:50:36,400 so that no one can steal from us through inflation and no one can 915 00:50:36,400 --> 00:50:39,840 easily print more money. This is this is the key here. 916 00:50:40,160 --> 00:50:42,400 Anyways, let's get into the culture. 917 00:50:42,400 --> 00:50:46,800 But before I do that, I do wanna plug our boys over at the Orange 918 00:50:46,800 --> 00:50:49,040 Pill. Out guys, find local bit corners 919 00:50:49,040 --> 00:50:51,000 near you find a vent and merchants near you. 920 00:50:51,000 --> 00:50:53,200 Jump on the Orange Pill app today. 921 00:50:53,200 --> 00:50:56,640 Go to orangepillapp.com. This is not a Tinder for 922 00:50:56,720 --> 00:50:58,560 bitcoiners. This is more of a networking 923 00:50:58,560 --> 00:51:01,640 app, guys. It's the best way to meet 924 00:51:01,640 --> 00:51:03,920 bitcoiners. If you're traveling and you're 925 00:51:03,920 --> 00:51:06,360 wondering if there's bitcoiners in the area, jump on the app, 926 00:51:06,360 --> 00:51:09,200 See who's around you. If you're the lone psycho 927 00:51:09,200 --> 00:51:11,240 bitcoiner in your community, jump on that. 928 00:51:11,240 --> 00:51:13,720 Maybe there's more bitcoiners around you that you didn't know. 929 00:51:13,840 --> 00:51:17,120 Of course, you guys can always be concerned about your opsec, 930 00:51:17,120 --> 00:51:20,720 but for some of us that are a little more upfront about our 931 00:51:20,720 --> 00:51:24,360 love of Bitcoin, this is the best place to meet bitcoiners to 932 00:51:24,360 --> 00:51:26,880 interact with. Bitcoiners, I actually found my 933 00:51:26,880 --> 00:51:30,080 local meet up through this app and now I think it's tomorrow, 934 00:51:30,080 --> 00:51:34,880 I'll be there tomorrow and we do have a simply Bitcoin group chat 935 00:51:34,880 --> 00:51:37,760 in there. I'm I'm really not the most 936 00:51:37,760 --> 00:51:39,720 active in there, but I tried to be active. 937 00:51:39,720 --> 00:51:43,200 I tried to respond to everyone that DMS me really appreciate 938 00:51:43,200 --> 00:51:45,040 all the love. So go to orange, pull up or scan 939 00:51:45,040 --> 00:51:49,240 the QR code right there and get on the Orange pap and we will 940 00:51:49,240 --> 00:51:52,200 see you on the other side. All right, guys, let's get into 941 00:51:52,200 --> 00:52:02,680 the culture. The Daily Culture Kaboom. 942 00:52:03,640 --> 00:52:06,040 Rack. All right. 943 00:52:06,040 --> 00:52:09,680 We've been talking about mining. All day and go to 944 00:52:09,680 --> 00:52:12,080 kaboomracks.com. It's the best place to buy, sell 945 00:52:12,080 --> 00:52:15,440 and host your Bitcoin. A six. 946 00:52:15,440 --> 00:52:18,800 They got a white glove service. Get in touch with my boy Alex. 947 00:52:19,040 --> 00:52:22,080 He won't answer all your questions and right now they 948 00:52:22,080 --> 00:52:27,080 really want to talk about their hosting right now. 949 00:52:27,080 --> 00:52:33,840 So they have a a new offer, a special offer on their bit main 950 00:52:33,840 --> 00:52:40,240 S19K PROS 20 hosting plans. Let me pull this up for you guys 951 00:52:40,640 --> 00:52:45,080 and you guys can literally, right when you get your payment 952 00:52:45,080 --> 00:52:48,800 to go through, it's on board. They're already connected. 953 00:52:49,120 --> 00:52:51,400 If you've been thinking about getting into mining, if you 954 00:52:51,400 --> 00:52:55,400 wanna get some KYC free Sats, if you want to, you know, chip in 955 00:52:55,400 --> 00:52:57,280 on adding to the hash rate. If you think it's a good 956 00:52:57,280 --> 00:53:00,200 opportunity right now. If you think that these Bitcoin 957 00:53:00,200 --> 00:53:02,680 mining companies are gonna get wrecked and maybe you can fill 958 00:53:02,680 --> 00:53:07,440 in a little bit, go over to Kaboom racks and get yourself an 959 00:53:07,440 --> 00:53:12,840 S19K Pro 120 Tera Hash hosting. It's already online. 960 00:53:12,840 --> 00:53:15,480 There will be no downtime. So if you've been thinking about 961 00:53:15,480 --> 00:53:17,680 it, if you don't have the facilities, you know you don't 962 00:53:17,680 --> 00:53:21,360 have the electricity facility set up. 963 00:53:22,080 --> 00:53:27,400 Go to Kaboom racks and get yourself a hosting rig today. 964 00:53:27,640 --> 00:53:32,360 OK, so first and foremost, let's start with the goats, 'cause I 965 00:53:32,360 --> 00:53:36,080 know you guys like the goats. And then we will talk about the 966 00:53:36,080 --> 00:53:41,520 next thing that SAT has for us. So here, let me play this live. 967 00:53:41,520 --> 00:53:43,880 You guys can see this or it is oh, it is live. 968 00:53:43,880 --> 00:53:46,400 They're just not moving. OK, It's live, guys. 969 00:53:46,400 --> 00:53:49,920 All right, So SAT, for those people that don't know what 970 00:53:50,360 --> 00:53:53,360 they're looking at, what is what are we looking at right here? 971 00:53:53,480 --> 00:53:57,040 What is going on here? You're looking at the lightning. 972 00:53:57,040 --> 00:53:59,920 Goats. The guy that you see sitting out 973 00:53:59,920 --> 00:54:06,080 by the tires is Dexter. To the left of him in the shed 974 00:54:06,080 --> 00:54:08,800 is Rowan. They're the first two of the 975 00:54:08,800 --> 00:54:10,280 Lightning Goats. Who's the Lightning Goat? 976 00:54:10,280 --> 00:54:14,480 Founders. Rowan's the CEO. 977 00:54:15,040 --> 00:54:16,880 Dexter's just kind of like the muscle. 978 00:54:17,240 --> 00:54:18,880 He's the the founder of the group. 979 00:54:18,960 --> 00:54:22,640 You know, he's actually there. We. 980 00:54:22,640 --> 00:54:24,360 Go. All right. 981 00:54:25,400 --> 00:54:27,840 Oh, it's. I just sent some Sats. 982 00:54:27,880 --> 00:54:29,360 Let's see him get some action here. 983 00:54:30,000 --> 00:54:31,080 All right, all right. We'll. 984 00:54:31,200 --> 00:54:33,600 We'll do some more. We'll do some more so you can 985 00:54:33,600 --> 00:54:37,720 see we're feeding the Sats live. What? 986 00:54:37,720 --> 00:54:40,440 What's the minimum on here? So maybe I'll just do this. 987 00:54:40,440 --> 00:54:42,680 What we got here, the minimum is. 988 00:54:43,120 --> 00:54:46,040 Whatever $1.00's worth of Sats is. 989 00:54:46,040 --> 00:54:51,520 Or actually 120. OK, yeah, let's do this. 990 00:54:51,520 --> 00:54:54,640 We'll send a dollar, you know, So I actually. 991 00:54:54,640 --> 00:54:58,560 Started this whole project as part of the like an orange 992 00:54:58,560 --> 00:55:01,840 peeling idea. I mean it was one of the ideas 993 00:55:01,840 --> 00:55:04,960 that I had with it. Put a founding idea of the whole 994 00:55:04,960 --> 00:55:12,920 thing was to create a stream on YouTube that exposes people who 995 00:55:13,040 --> 00:55:16,880 don't know about Bitcoin to Bitcoin in a very friendly way. 996 00:55:17,440 --> 00:55:21,040 You know to do something that grandma's would come across and 997 00:55:21,040 --> 00:55:25,840 all that kind of stuff. Of course, you know the 998 00:55:26,080 --> 00:55:28,720 Lightning Goats is very successful with among 999 00:55:28,720 --> 00:55:33,800 bitcoiners, but there's also a bunch of non Bitcoin followers 1000 00:55:33,800 --> 00:55:38,600 on YouTube, various nature stream streaming aggregators and 1001 00:55:38,600 --> 00:55:42,960 all that kind of stuff. So every time, every day, when 1002 00:55:42,960 --> 00:55:46,200 people feed the goats, they're also doing a little bit to 1003 00:55:46,200 --> 00:55:50,680 propagandize people and expose them to Bitcoin and the 1004 00:55:50,680 --> 00:55:55,640 Lightning Network. Let's go oh. 1005 00:55:58,200 --> 00:56:02,040 Man, oh this is too funny. It's too funny. 1006 00:56:03,000 --> 00:56:07,920 OK, sorry, someone's saying page link feed goats with sets set. 1007 00:56:07,920 --> 00:56:10,680 Do you have a website or guys just go to Lightning Goats on 1008 00:56:10,680 --> 00:56:12,400 YouTube and you can see the live stream. 1009 00:56:12,640 --> 00:56:15,720 But do you have a website that people can go to and and see 1010 00:56:15,720 --> 00:56:18,640 this project and maybe Orange Peel their friends with? 1011 00:56:19,760 --> 00:56:23,040 Yeah, there's. Lightninggoats.com so it's 1012 00:56:23,800 --> 00:56:28,440 lightninghyphengoats.com without the WWW. 1013 00:56:28,800 --> 00:56:31,080 It may or may not work for you. I haven't. 1014 00:56:31,080 --> 00:56:33,920 I actually spent a bunch of time on the web page. 1015 00:56:33,920 --> 00:56:38,400 The web page is just an embed of the video that you can see on 1016 00:56:38,400 --> 00:56:42,120 YouTube eventually. What I'd like to do is I'd like 1017 00:56:42,120 --> 00:56:47,160 to utilize restreamer to do a ZAP stream at the same time. 1018 00:56:48,040 --> 00:56:51,440 But right now I can't really justify the $16.00 a month. 1019 00:56:51,880 --> 00:56:56,480 I live on an orange standard. I have everything in Bitcoin, so 1020 00:56:56,480 --> 00:57:00,320 if I spend dollars it means that I sold Bitcoin and I don't want 1021 00:57:00,320 --> 00:57:02,520 to sell my Bitcoin. So yeah. 1022 00:57:05,080 --> 00:57:07,440 Look at the terrorists profiting from Bitcoin. 1023 00:57:07,440 --> 00:57:12,640 The goats are terrorists. Yeah, it applies in. 1024 00:57:12,640 --> 00:57:16,480 The face of the whole idea that Bitcoin is used by terrorists 1025 00:57:16,480 --> 00:57:19,080 and stuff, I mean, what could be more wholesome than a goat 1026 00:57:19,080 --> 00:57:23,040 feeder? I mean, come on guys, 100%. 1027 00:57:23,360 --> 00:57:25,120 Sal, we got a question here from Loco. 1028 00:57:25,120 --> 00:57:27,400 He goes, did you open source your project? 1029 00:57:27,960 --> 00:57:32,560 Yeah, if you search. For lightning goats on GitHub or 1030 00:57:32,680 --> 00:57:36,600 SANTYR, that's my GitHub username. 1031 00:57:37,760 --> 00:57:41,240 A lot of the code is there. It's made from three things. 1032 00:57:41,240 --> 00:57:46,400 It's made using a lightning node and it lane bits installed and 1033 00:57:46,400 --> 00:57:50,240 an open have installed, all connected by a wire guard 1034 00:57:50,240 --> 00:57:55,480 connection. So that way I can pick sats from 1035 00:57:55,480 --> 00:57:58,000 out on the Internet and make them trigger the feud. 1036 00:58:00,280 --> 00:58:01,720 Yeah, I'm a big fan of the Allen bits. 1037 00:58:01,720 --> 00:58:03,840 Project by Ben Ark. So that's really cool that you 1038 00:58:03,840 --> 00:58:08,360 integrated all of those pieces. Let's know. 1039 00:58:12,400 --> 00:58:14,040 I don't know why it's so satisfying. 1040 00:58:16,160 --> 00:58:18,960 It's so satisfying. It's really cool to see. 1041 00:58:20,280 --> 00:58:23,280 You know, something abstract is a Bitcoin transaction. 1042 00:58:23,280 --> 00:58:25,600 You know, you send something over your phone, you kind of get 1043 00:58:25,600 --> 00:58:31,000 this feedback in cyberspace. Yeah, you see something happen 1044 00:58:31,000 --> 00:58:35,840 in the real world. We're also working on AL4O2 1045 00:58:35,840 --> 00:58:38,440 invoicing in conjunction with cameras switching. 1046 00:58:38,440 --> 00:58:41,360 And what it's going to allow people to do is it'll be a 1047 00:58:41,360 --> 00:58:45,520 second QR code up in the upper left hand corner there. 1048 00:58:46,520 --> 00:58:48,200 You'll scan that with your phone. 1049 00:58:48,440 --> 00:58:50,760 You'll be presented with an invoice. 1050 00:58:51,320 --> 00:58:54,720 When you pay the invoice, it'll allow you to switch cameras on 1051 00:58:55,160 --> 00:58:57,720 in the yard, so you could get different DS on camera. 1052 00:58:57,720 --> 00:58:58,720 That'd be cool. It's a good. 1053 00:58:58,960 --> 00:59:01,360 Set off camera. That'd be awesome. 1054 00:59:02,320 --> 00:59:05,440 All right. Well, on that note, you know, 1055 00:59:05,440 --> 00:59:08,600 they asked if you open sourced it, What else are you working 1056 00:59:08,600 --> 00:59:10,600 on? Let me pull this up guys. 1057 00:59:10,600 --> 00:59:14,480 This is not it's not the completed final project because 1058 00:59:14,480 --> 00:59:18,960 I I couldn't get it to fully work on the stream but I did get 1059 00:59:19,200 --> 00:59:22,920 or rather SAT did create the Opti Taco feeder. 1060 00:59:23,200 --> 00:59:28,040 So if you scan the QR code we can get some Sats here. 1061 00:59:28,040 --> 00:59:31,000 And I I did put one on here but the bottom one doesn't work as 1062 00:59:31,000 --> 00:59:33,600 well as the top one. Scan the top one or actually 1063 00:59:33,760 --> 00:59:37,480 just scan it scan the code and you can see some funny stuff and 1064 00:59:37,480 --> 00:59:40,200 there is a little Easter egg here and I'll do the Easter egg 1065 00:59:40,200 --> 00:59:43,480 one. So you if you scan this guys 1066 00:59:43,640 --> 00:59:46,160 we'll get some Sats. You guys have been asking for 1067 00:59:46,680 --> 00:59:50,080 Lane QR code that you can send us some Sats on. 1068 00:59:50,240 --> 00:59:53,880 For some reason I can't fully get it to work how we'd like to 1069 00:59:53,880 --> 00:59:58,320 on restream but I did figure out a way to get it on here. 1070 00:59:58,320 --> 01:00:01,240 We'll see if we keep it. It's not fully done yet I I need 1071 01:00:01,240 --> 01:00:05,920 to work out some of the kinks with SAT but for now there is an 1072 01:00:05,920 --> 01:00:09,840 Opti Taco feeder and it's something Nico just memed. 1073 01:00:09,840 --> 01:00:14,120 So look, I'll I'll send Sats to myself and you guys can see some 1074 01:00:14,120 --> 01:00:21,760 of this stuff. Let's. 1075 01:00:22,000 --> 01:00:24,840 Go. OK, Do you guys see that? 1076 01:00:24,840 --> 01:00:26,560 You guys catch that on the stream. 1077 01:00:26,960 --> 01:00:30,440 A little Taco pops up. OK, now look at this one. 1078 01:00:30,440 --> 01:00:36,200 Look at this one. Shout out to SAT for the Easter 1079 01:00:36,200 --> 01:00:38,600 eggs in this. You guys are going to love this 1080 01:00:38,600 --> 01:00:49,200 one. Oh man, for the. 1081 01:00:49,400 --> 01:00:52,320 For the audio listeners out there, if you send, you know 1082 01:00:52,320 --> 01:00:55,800 this, whatever 100 sets, a little Taco pops up when you 1083 01:00:55,800 --> 01:00:58,480 send the QR code. Actually, any sets you send any 1084 01:00:58,480 --> 01:01:01,160 sets to the QR code, a little Taco pops up. 1085 01:01:01,440 --> 01:01:06,720 But if you send 666 sets, Christine Lagarde pops up with 1086 01:01:06,720 --> 01:01:09,880 flames around here. So, absolutely incredible. 1087 01:01:09,880 --> 01:01:15,640 So set Where can people find this product or this on GitHub? 1088 01:01:16,640 --> 01:01:17,280 What? What? 1089 01:01:17,280 --> 01:01:19,280 What's going on here? What's the back end like on 1090 01:01:19,280 --> 01:01:21,240 this? This is. 1091 01:01:21,240 --> 01:01:24,120 Also a a simple Ellen bits project. 1092 01:01:26,160 --> 01:01:32,440 What it does is you take an Ellen URL, make it into AQR code 1093 01:01:32,880 --> 01:01:37,600 of course, and you have a web page that runs a websocket 1094 01:01:37,600 --> 01:01:40,560 listener. The websocket listener listens 1095 01:01:40,560 --> 01:01:46,680 for payments and as they come in, interacts with various other 1096 01:01:46,680 --> 01:01:53,800 code that will display a Taco or Christy Lagarde or other things 1097 01:01:53,800 --> 01:01:56,160 you know you you can. They can be programmed however 1098 01:01:56,160 --> 01:02:02,160 you'd like. We can add a a web hook to it. 1099 01:02:02,520 --> 01:02:05,960 What I'm envisioning in the future is a Taco rotisserie that 1100 01:02:05,960 --> 01:02:10,320 sits right next to your desk. When a payment comes in for 1000 1101 01:02:10,320 --> 01:02:15,320 stats or more, the rotisserie will rotate and give you a Taco. 1102 01:02:16,160 --> 01:02:19,840 It'll do it'll like. Dispense cilantro and onions and 1103 01:02:19,960 --> 01:02:24,120 and beef into a tortilla. Oh man, that'd be great. 1104 01:02:24,480 --> 01:02:26,080 Taco you. Know. 1105 01:02:26,920 --> 01:02:29,200 Amazing. I don't know if I can. 1106 01:02:29,400 --> 01:02:31,840 I condone this because I know they're going to try to get me 1107 01:02:31,840 --> 01:02:33,680 fat and I'm trying to avoid getting fat. 1108 01:02:33,680 --> 01:02:37,440 But I do love tacos. I am a huge fan of tacos, so I 1109 01:02:37,440 --> 01:02:41,880 do kind of endorse this message. OK, Seth, what's the last thing 1110 01:02:41,880 --> 01:02:44,040 you want to leave with the audience before we wrap today's 1111 01:02:44,040 --> 01:02:48,280 show up? Same thing as last time. 1112 01:02:48,280 --> 01:02:49,840 You know, broaden your time horizons. 1113 01:02:49,840 --> 01:02:52,920 Think long term, especially if you're new to Bitcoin. 1114 01:02:53,600 --> 01:02:57,360 Don't look at day-to-day or month to month price action or 1115 01:02:57,360 --> 01:03:00,840 anything like that. Look five years into the future, 1116 01:03:00,840 --> 01:03:05,280 always, and you'll reach a state of calmness. 1117 01:03:05,920 --> 01:03:08,000 And the other thing is just study. 1118 01:03:08,000 --> 01:03:10,360 Keep, keep learning more about this. 1119 01:03:12,600 --> 01:03:14,120 Totally agree as. As. 1120 01:03:14,120 --> 01:03:18,440 Me and my friends usually say study Bitcoin enough until you 1121 01:03:18,440 --> 01:03:22,480 reach Bitcoin Zen and the price movements don't affect you and 1122 01:03:22,480 --> 01:03:26,160 nothing effects you because you realize, hey man, Bitcoin is the 1123 01:03:26,160 --> 01:03:29,000 best money in the world. Why would I freak out about it 1124 01:03:29,000 --> 01:03:32,160 being priced in Fiat? But it does take some time. 1125 01:03:32,480 --> 01:03:35,880 But I do believe that now is the best time. 1126 01:03:35,880 --> 01:03:40,920 It's the most de risk time to be in Bitcoin and men like little 1127 01:03:40,920 --> 01:03:43,960 projects like what you're doing SAT it's just it's amazing. 1128 01:03:43,960 --> 01:03:46,560 And I I think you kind of hit it the nail on the head when you 1129 01:03:46,560 --> 01:03:50,120 said when you see projects like lightning goats and then you 1130 01:03:50,120 --> 01:03:53,080 compare that with what like Elizabeth Warren saying about 1131 01:03:53,080 --> 01:03:55,800 Bitcoin or any of the powers that be say about Bitcoin, 1132 01:03:55,800 --> 01:03:58,880 you're just like guys. It's just digital money. 1133 01:03:58,880 --> 01:04:03,640 It's Internet money, and there is something satisfying about 1134 01:04:03,640 --> 01:04:08,440 scanning the live feed in real time and seeing the food get 1135 01:04:08,440 --> 01:04:12,240 delivered to the goats. And it like simple things like 1136 01:04:12,240 --> 01:04:16,840 these, like this project, really kind of open people's minds to 1137 01:04:16,840 --> 01:04:18,680 the power of what Bitcoin can be. 1138 01:04:19,040 --> 01:04:22,640 And in time we'll be seeing, you know, Chris, what did you call 1139 01:04:22,640 --> 01:04:25,480 it before the show? It wasn't Opti's Taco Feeder. 1140 01:04:25,480 --> 01:04:31,880 It was Opti's E Girl optis. Bidis bidis optis. 1141 01:04:31,880 --> 01:04:38,680 You know these? Seem kind of funny, but things 1142 01:04:38,680 --> 01:04:44,440 like this are how we win. We win by adopting, by everybody 1143 01:04:44,440 --> 01:04:49,800 adopting and disregarding what people like Elizabeth Warren 1144 01:04:49,800 --> 01:04:53,560 have to say about things. Elizabeth Warren is a dinosaur, 1145 01:04:53,560 --> 01:04:58,640 man, and she's circling the drain just in a few years, which 1146 01:04:58,640 --> 01:05:04,040 is going down, man. The whole system is changing 1147 01:05:04,040 --> 01:05:06,440 rapidly. We have artificial intelligence, 1148 01:05:06,440 --> 01:05:10,240 We have the looming singularity. We have Hyper Picclinization. 1149 01:05:10,440 --> 01:05:14,280 We have all the things that used to make me so excited 20 years 1150 01:05:14,280 --> 01:05:17,640 ago, they're all coming in in into being. 1151 01:05:17,720 --> 01:05:21,880 It's awesome, man. Keep optimistic about 1152 01:05:21,880 --> 01:05:24,600 everything. You know when you see them 1153 01:05:24,600 --> 01:05:28,000 attacking, as you guys say, it just means you're over the 1154 01:05:28,000 --> 01:05:31,040 target. The reason that all of this 1155 01:05:31,040 --> 01:05:34,040 weirdness is happening with the government and all this kind of 1156 01:05:34,040 --> 01:05:40,040 stuff is because they realize that their time is almost done. 1157 01:05:40,040 --> 01:05:42,360 They're they're in a panic. They don't know what to do. 1158 01:05:42,640 --> 01:05:45,960 The dollar is dying. Keep stacking. 1159 01:05:47,480 --> 01:05:48,800 Let's go. Can agree. 1160 01:05:48,800 --> 01:05:52,880 More set can agree more. All right, well set for everyone 1161 01:05:52,880 --> 01:05:55,360 out there. And the audio listeners, Where 1162 01:05:55,360 --> 01:05:58,400 do you want to lead people? Where, where can they find you? 1163 01:05:58,400 --> 01:06:01,440 I know you're not on Twitter, so do you know you're at Noster X 1164 01:06:01,440 --> 01:06:01,920 pub? If you'd. 1165 01:06:05,120 --> 01:06:06,720 Like me to read it for you? I got it. 1166 01:06:07,920 --> 01:06:13,120 Do you have a nib? Five identifier you can. 1167 01:06:13,120 --> 01:06:17,400 Go on to Noster. I don't do any of the other 1168 01:06:17,400 --> 01:06:20,240 social medias. When I dropped out of the 1169 01:06:20,240 --> 01:06:22,680 workforce, I deleted my LinkedIn. 1170 01:06:22,680 --> 01:06:26,720 A couple years went by and I was like, screw Facebook. 1171 01:06:26,720 --> 01:06:30,600 I don't want to be manipulated by Mark Zuckerberg and his board 1172 01:06:30,600 --> 01:06:32,760 army, you know, all that kind of stuff. 1173 01:06:33,840 --> 01:06:38,800 I tried out Twitter and then it was just too difficult to to get 1174 01:06:39,120 --> 01:06:42,480 engagement with the people that I wanted to engage with there, 1175 01:06:42,960 --> 01:06:45,000 right? Think about it guys. 1176 01:06:45,640 --> 01:06:49,000 You two probably get, I don't know how many DMS a day on 1177 01:06:49,000 --> 01:06:51,280 Twitter. It's hard to filter out and find 1178 01:06:51,280 --> 01:06:53,160 the people. So if you're a new guy on 1179 01:06:53,160 --> 01:06:57,520 Twitter, you just can't talk to any Bitcoin O GS. 1180 01:06:58,280 --> 01:07:02,120 If you go to Noster, however, you can talk with Bitcoin O GS. 1181 01:07:02,400 --> 01:07:05,880 I mean, freaking Edward Snowden follows the goats. 1182 01:07:05,880 --> 01:07:12,120 Literally, guys. I mean, so yeah, you can find me 1183 01:07:12,120 --> 01:07:18,000 on Noster. You can also e-mail me at SAT at 1184 01:07:18,000 --> 01:07:22,280 Reacher. Reacher dot ME. 1185 01:07:23,200 --> 01:07:28,760 It'll cost you $0.10 to send me an e-mail, but it's a good way 1186 01:07:28,760 --> 01:07:31,400 to filter out all the weirdos or the bots. 1187 01:07:32,800 --> 01:07:36,320 So if you really need to contact me if you want me to consult on 1188 01:07:36,320 --> 01:07:40,680 things, I can consult for you. I work for the Bitcoin network. 1189 01:07:40,680 --> 01:07:43,920 I don't work for Saps. Everything I do is for the 1190 01:07:43,920 --> 01:07:46,760 network itself, so I don't charge anything. 1191 01:07:48,560 --> 01:07:52,400 I'm happy to talk with you, Lovett SAT. 1192 01:07:52,400 --> 01:07:54,080 Well, really? Appreciate you coming back on, 1193 01:07:54,080 --> 01:07:56,040 really appreciate the Opti Taco feeder. 1194 01:07:56,040 --> 01:07:59,680 Hopefully I can figure out the kink so that we can get the, you 1195 01:07:59,680 --> 01:08:02,360 know, the thing to pop up on the restream live stream. 1196 01:08:02,360 --> 01:08:05,920 But for now, maybe I'll just keep it as AQR code for here and 1197 01:08:05,920 --> 01:08:07,320 you guys can see it on the bottom right now. 1198 01:08:07,320 --> 01:08:09,160 But Sat, thanks for coming on, bro. 1199 01:08:09,160 --> 01:08:11,400 Let me pull you to the side for a moment. 1200 01:08:11,400 --> 01:08:15,400 Hang out for a second. Chris, the one and only Chris 1201 01:08:15,400 --> 01:08:18,080 Alamo, thanks for coming in. Thanks for Co hosting. 1202 01:08:18,080 --> 01:08:20,880 But I'm going to give you the same question I give usually our 1203 01:08:20,880 --> 01:08:23,120 guests. Technically you're a guest 1204 01:08:23,120 --> 01:08:24,920 today. What's the last two stats you 1205 01:08:24,920 --> 01:08:27,359 want to leave with the audience? Oh man. 1206 01:08:27,520 --> 01:08:30,640 I mean, there's so many. Stay humble Stack Sats I think 1207 01:08:30,640 --> 01:08:32,960 we're in the then they fight you stage Obviously we've seen a lot 1208 01:08:32,960 --> 01:08:37,319 of stuff with Phoenix and Wasabi pulling out of the US Obviously 1209 01:08:37,319 --> 01:08:41,800 the Samurai developers Keon and William Hill getting arrested. 1210 01:08:42,720 --> 01:08:45,600 Keon actually was already arraigned and pled not guilty so 1211 01:08:45,600 --> 01:08:48,160 he's going to fight the good fight it definitely. 1212 01:08:48,160 --> 01:08:49,680 I wouldn't say it's the coward waves out. 1213 01:08:49,680 --> 01:08:53,479 I because I can't imagine him sitting looking at 30 to 40 1214 01:08:53,479 --> 01:08:56,760 years in life in prison. You know if he doesn't win this. 1215 01:08:56,760 --> 01:08:59,880 But I'm sure that there was a plea deal on the the books to 1216 01:08:59,880 --> 01:09:01,960 say, hey, just admit to these crimes. 1217 01:09:01,960 --> 01:09:04,720 We'll give you 7 to 8 years in prison or or less. 1218 01:09:05,560 --> 01:09:08,960 And with him saying, pleading not guilty and fighting this 1219 01:09:08,960 --> 01:09:12,359 case, not only are we going to get a case law out of it, you 1220 01:09:12,359 --> 01:09:15,359 know, there's obviously room for people to interpret it with, 1221 01:09:15,600 --> 01:09:19,080 interpret, interpretate what the law is and what the DOJ is 1222 01:09:19,080 --> 01:09:21,120 trying to push. Keep fighting the good fight. 1223 01:09:21,120 --> 01:09:22,160 And I think I'll leave you off on. 1224 01:09:22,160 --> 01:09:23,359 Yes, stay humble. Stacks hats. 1225 01:09:24,319 --> 01:09:26,800 Love it, Chris. Well, really appreciate it guys. 1226 01:09:26,800 --> 01:09:30,160 And of course go check out what Chris is working on. 1227 01:09:30,160 --> 01:09:36,479 He is head wait, no, sorry, programming manager at Swan low 1228 01:09:36,479 --> 01:09:39,560 key maybe maybe we'll see it today And Jacob could yell at 1229 01:09:39,560 --> 01:09:41,800 me, best producer in the game besides me. 1230 01:09:41,960 --> 01:09:43,960 But hey, you know, I'm the most humble, so I'll. 1231 01:09:43,960 --> 01:09:46,240 I'll pass the baton over to Chris anyways. 1232 01:09:46,240 --> 01:09:49,800 Guys, we had another show. Nico couldn't make it today. 1233 01:09:49,800 --> 01:09:51,120 I should have probably said this in the beginning. 1234 01:09:51,120 --> 01:09:52,800 He's doing a very special appearance. 1235 01:09:52,800 --> 01:09:54,800 You guys will probably hear about it soon. 1236 01:09:55,080 --> 01:09:57,480 I am pretty sure we do have an IRL tonight. 1237 01:09:57,480 --> 01:10:00,880 So come back to YouTube at 5:00 PM Eastern Time. 1238 01:10:01,120 --> 01:10:03,840 We're gonna have an IRL. Nico will be here later today. 1239 01:10:04,080 --> 01:10:07,200 And of course, like, share, subscribe, all that good stuff. 1240 01:10:07,600 --> 01:10:11,560 The mission is spreading Bitcoin signal to everyone. 1241 01:10:11,560 --> 01:10:16,200 Everyone must know that there is a better solution, That the 1242 01:10:16,200 --> 01:10:20,080 mining FUD is just that it's FUD. 1243 01:10:20,080 --> 01:10:23,200 It's fake news. Usually it's completely 1244 01:10:23,200 --> 01:10:27,560 misinformed and probably they're lying to you. 1245 01:10:27,560 --> 01:10:31,720 So Bitcoin is helping planet Earth, it's helping individuals. 1246 01:10:32,240 --> 01:10:36,040 Bitcoin is overtaking the world and the world's getting repriced 1247 01:10:36,040 --> 01:10:37,560 in Bitcoin. So we'll see you tomorrow. 1248 01:10:37,760 --> 01:10:39,800 On that note, guys, peace out. We love you. 1249 01:10:40,120 --> 01:10:43,680 It's been your boy, Opti. I'll see you on the front lines. 1250 01:10:47,080 --> 01:10:50,600 It was brought to you by bitcoinwell.com on a mission to 1251 01:10:50,600 --> 01:10:51,920 enable independence.