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Lots to cover today. Lots of breaking news.
I mean, so many things have happened over the two weeks over
these last two weeks that just these are things that I thought
were going to happen over the next four years, but they've
happened a lot quicker than I realized.
So of course you had what we were covering yesterday.
We have a potential future U.S. President going out and
basically said, like I would protect Bitcoin miners in the
United States. And what we've seen over the
last couple days is essentially a change in tune from not so
much in their actions, but in their words from the Biden
administration, which I find absolutely fascinating.
Here's an there's a, there's an article dropped by the block
yesterday. It says Biden campaign and talks
to accept crypto donations. Now, of course, they're just
pandering, right? Like, I don't think it has
anything to do with the fact that they've changed their their
mind. And we're going to talk about
the that today. But I think that they're
realizing that this isn't necessarily a popular thing with
their voters. So I just find it interesting
that they're trying to walk it back and it tells me something
that we've been talking about these last couple days.
It's, it's not that Bitcoin needs Trump or RFK, it's that
Trump and RFK and now Biden need Bitcoin in order to win an
election here in the USI think that is a testament to the power
of our movement. And I can't wait to see what
we're going to be, you know, in the next 5 to 10 years.
Remember, Bitcoin essentially was, was, was born out of
rebellion. It was, it was born out of, out
of a protest. Remember the message in the
genesis block Chancellor on the brink of the 2nd bailout for
banks. And here you are 15 years later,
and now presidents are going in and basically saying now they're
pandering to Bitcoiners in order to get votes, right?
So it it's I can't believe we're here.
This is insane. So, you know, I think things are
just going to get better from here.
And I think the sign of us, you know, achieving victory will be
Ross walking out of prison. I think that's like the final
sign. And Max Kaiser is basically
making the case that this is the reason that he believes that,
you know, we could potentially see a $500,000 Bitcoin as nation
states start to not attack Bitcoin, but pander towards
Bitcoin miners. And he's making the case.
And, you know, he, he's this is a term that he's coined, which
he calls it the hash rate war, that you'll see countries
competing for business for Bitcoin miners.
And we're already starting to see that in some countries,
right? You had, you had parrot the, you
know, the Paraguay government come out basically saying like,
look like, you know, this is good for our energy industry.
You had the Kingdom of Bhutan announced that they're going to
increase their mining operations.
They're teaming up with bit Deer.
And of course, you have El Salvador who's mining Bitcoin
with their excess geothermal electric capability.
So I just find that fascinating. And of course, the final thing,
Michael Saylor continues to use the infinite money glitch in
order to buy more Bitcoin. Absolute Chad.
Like he's used this multiple times.
Like he buys Bitcoin, the price of Bitcoin goes up, the price of
his stock goes up, and then he he borrows against his stock in
order to get more cash in order to buy more Bitcoin.
It's like this self fulfilling prophecy.
And we read you a post on Stacker News by Jimmy Song that
was basically making the case that this is the speculative
attack on the dollar. Like he's using the dollar
itself to like the, the Fiat system itself against it in a
way which I find absolutely fascinating.
Like he's using, you know, Fiat, something that you know, there's
no cap to buy, something that there's a, you know, cap supply
of. I don't know how that's going to
end, but I do find it funny and interesting.
Anyways, I do want to bring up my legendary Co host.
He is OPT. He was always optimistic.
That's why they call him Optimus Fields.
How you doing Opti? Honestly, I'm a little cook
today. My sleeping schedule's all
messed up this week, my elbow feels broken.
I don't know what I did, but yeah, I'm struggling today,
Nico. I'm struggling, but still
optimistic. But man, I'm hurting.
I'm. I'm you don't sound very
optimistic. It's still a more way of life,
but man, my elbow hurts so bad. I have no idea what I did.
I'm yeah, I'm in pain over here. I'm in pain, guys.
But we show anyways does. Bitcoin fix this.
Not today, apparently, because I'm hurting.
So no, I'm going to say no. It's the only thing Bitcoin
doesn't fix is my hurt elbow. Right now I'm.
I'm wrecked oh man well guys, if you guys are enjoying the show
so far, make sure to smash that like button and if you smash the
like button, I heard that Opti will feel better so.
I hope so. That is, you know, that could be
a rumor, but I heard I think it's true maybe.
What? If you smash the like button,
you'll feel better. Sure, let's see.
OK, close enough. Anyways, I do want to bring up
age. I do want to bring up, I do want
to bring up our guest for today. We have Kent in the house.
Kent is the CEO of SAS Mining. SAS Mining is the place to go if
you want Bitcoin mining as service.
Anyways, Kent, thank you so much for joining us today, brother.
Appreciate it. Kent, it seems like you're on
mute. Second time I've done that, man.
Hey, it just seems like a live one.
I'm honored to be here and happy to happy to share my thoughts.
And yeah, we make mining as a service accessible to the
masses. So yeah, you want to DCA a
different way? Come, come check us out.
I love that DCAA different way and you guys, you we got a
surprise for you guys, man, because I think that's a that's
an interesting concept for a lot of people.
Like people don't realize maybe it's a stretch to say this,
Kent, but you were explaining it to me before we went on air and
I thought I'd find it. I found it fascinating, which is
this idea that you can get Bitcoin at a discount if you
mine it instead of you buy it instead of buying it.
That's totally accurate. So if we're using a third party
model, the Galaxy Digital put it out a couple years ago, we just
plug in the numbers on the mining opportunity and it looks
at, hey, what is it cost to mine a Bitcoin today?
And right now that cost is 45,000.
So you know, if you're mining a Bitcoin today was as mining with
one of the mining rigs that we offer, we offer two.
Then you are your DCA into a Bitcoin position had about a 30%
discount to the price of Bitcoin on an exchange.
So you are stacking more SAT's for your dollar.
That's awesome, man. This is, it's awesome.
It's fascinating, and I'm sure some people are in the audience
are gonna find it very, very interesting.
Cuz that's a crazy concept. Like it almost sounds too good
to be true in a way. Well, yeah, I think that's just
it. And I think it took me a couple
of years of working here at SAS mining and sort of analyzing the
value proposition to realize like, hey, why is there so much
capital flowing into the Bitcoin mining space?
And it took me actually just taking and putting the price of
Bitcoin on exchange, which we all know love, watch and track
every, you know, probably 5 minutes for most of us that
really geek out on the price. But when you actually compare
the value proposition to mining to that price, you realize This
is why capital's flowing in. And to date, nobody has really
made that accessible to the masses.
And that's been our aim. So it's a different value
proposition or different counterparty risk than going to
an exchange, right? And there's different set of
risks. But at the end of the day,
you're just buying a piece of hardware, you're paying for your
electricity on a month in, month out basis and you're getting
Bitcoin to your wallet. And that is from a cost average
standpoint cheaper than any of the DCA products or exchange
products that are out there. Absolutely, man.
Well, I can't wait to hear more about it and we're going to
cover it in depth during the culture segment.
But before we start the show, I do want to give a very special
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the numbers. Lots to talk about.
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price is 66,610 SATS per dollar, 1501 block height 847,782 blocks
to having 200 and 2218 having estimate March 25th 2028 total
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U.S. dollars realized monetary inflation 1.6% market
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Anyways in other news, like I was saying in the beginning,
Michael Saylor is using the infinite money glitch to stack
more Bitcoin. Don't we all wish we had a giant
public company behind us that we could leverage using the Fiat
debt system to buy more Bitcoin? Anyways here is the official
press release. Micro strategy announces
proposed private offering of 500 million of convertible senior
notes. Anyways, here is Michael Saylor
announcing it on Twitter. I think it was this morning that
he made the announcement, right? Very, very early in the morning,
6:37 AM, He wanted to let the world know.
Here's some more information from Bitcoin Magazine.
Anyways, it goes on to say micro strategy by led by CEO Michael
Saylor announced it will raise 500 million through a private
offering of convertible senior notes.
The proceeds will fund additional purchases, furthering
its corporate Bitcoin accumulation strategy.
MicroStrategy is already the largest public company holder of
Bitcoin, with over 214,000 BTC worth 15 billion on its balance
sheet starting in 2020. Under Sailor's direction, it
adopted Bitcoin as its primary reserve asset.
Its average purchase price per Bitcoin remains 35,000, while
Bitcoin trading nearly 68,000. The firm is still significantly
in the green on its holdings. The latest $500 million capital
raise comes via selling convertible senior notes to
qualified institutional buyers. The notes will pay interest semi
annually and mature in 2032 unless converted and or redeemed
earlier, according to the announcement.
MicroStrategy may use the funds for general general corporate
purposes, but Bitcoin acquisition remains a priority.
The company will also grant initial purchasers an option to
buy an additional $75 million in notes.
Microstrategy's Bitcoin buying obsession has made it a Wall
Street proxy for Bitcoin itself. The company's stock often rises
in the falls with bitcoins price movements.
With investors betting on bitcoins upside with the latest
capital injection, MicroStrategy is signaling its conviction that
Bitcoin will continue appreciating over the long term.
Sailor is ready to double down by acquiring more coins while
prices remain relatively low. I mean, like, what is that but
not conviction, right? What is that but not conviction?
Now I'll pass it on to you, Kent.
Like is he like he's done? He's used this glitch many
times. Is there at any any moment that
he could potentially get in in trouble?
Like if if Bitcoin starts going down in price, you know, could
that potentially put him in a tough spot?
Like it's just I like, I wish I had this giant corporation
behind me. Like, this is not this is.
I didn't even know this was a thing, but I think it just
highlights the insanity that is the Fiat system.
Yeah, I, I, I don't know it, I'm certain that there's some sort
of price where he could get in trouble with the low leverage
bet that he's putting on Bitcoin here.
But his conviction is just otherworldly.
And it just makes me think, you know, he's he's sort of vying
with Elon Musk, in my opinion, for God, king of planet earth
here. You know, they're both, they're
both angling for just supreme, you know, power by by the amount
of value that they have under their belts.
And I, I love it. I love watching him do his
thing. I think the only thing I find
really fascinating about his approach is that he, he, he
always, he never attacks the dollar publicly in his speech,
yet he does so with his actions. And I think that that's
fascinating to watch because I think the actions mean a lot
more than than words here. And, you know, if he, if he
winds up being like the billionaire role model for other
publicly traded companies out there, like more power to him.
You know, I just hope he's the Pied piper leading, leading all
the folks to the same same playbook because it helps us
all. Absolutely, Opti, what's your,
what's your take on this? We have Elaine in the chat.
Sailor addicted to Bitcoin 1,000,000% man, it, it I think
can't hit the nail on the head. Like Sailor is obviously, you
know, he's, he's looking at Elon.
He's like, man, you know, you got Tesla, I got Bitcoin, bro.
So I mean that's let's see what happens.
Let's see what happens. Anyways, Opti, what's your take
on all this brother? Yeah, I mean, I'm not surprised
at all that sailors continuing to use the infinite money
glitch. Like you said, I've been joking
for a while. If we had the same opportunity,
we'd probably be doing the same thing.
And to kind of answer your question, can Sailor get in
trouble? I think first and foremost, I'm
pretty sure he's in the green by now.
So like anything he buys on top of here is just only going to
increase his profits. And the second thing is, I
remember watching some of the Sailor interviews about when he
did this micro strategy strategy.
And it seems like every one of his shareholders and people on
his board are completely on board with the Bitcoin strategy.
So at this point, like I don't think he's going to ever get in
trouble again. And then the Third Point like
most of these loans and I didn't look at the specifics on this
one, but I'm guessing it's all roughly the same loan.
It's pretty much like free money for like 5 to six years.
So like, I don't, I don't think he's worried about.
It at all? He's just like, I'm trying to
get as much Bitcoin as possible at these prices.
And it really makes me think that he's trying to keep up with
the demand coming into the ETFs and all that stuff because
they're scooping up so much Bitcoin.
And I think he sees the writing on the wall as well where he's
like, look, it's only a matter of time until this price gets
ridiculously expensive. I'm not going to be able to get
as much Bitcoin that I used to. It's like what we always say,
you know, once you when you first start stacking Bitcoin,
you know, the coins you accumulate like it makes a debt
in your Bitcoin holdings. And after a while you're like,
it doesn't matter how much I buy at these prices, I'm not getting
as much Bitcoin as I used to. And even though sailors doing
this on an incredible level, he's probably feeling the same
way. He's like, man, I'm not getting
as much Bitcoin as I used to. Like this 500 million buys are
not like they used to be. And he's like, I need more
Bitcoin. So hey, man, more power to him.
But yeah, he's definitely buying for God King on planet Earth.
He's probably already the richest person, will eventually
be the first trillionaire on planet Earth.
You heard it here first. Oh, man, yeah, dude, that's an
absolute fact. All right, everybody.
I mean, it feels like it. It feels like it.
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Let's let's. Do it The Daily News.
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All right, everybody, let's talk about this because this is this
is a bit this someone in the chat.
Opti is so annoying. Usually it's about me Opti.
I don't know what's going on. I don't know what you're doing
there. I have.
A I have a nasally voice. I I get it.
If you guys are enjoying the show so far, make sure to smash
that like button really really helps with the algos.
We're about to break 1000 live viewers between YouTube and X.
If you add Rumble, we've already broken 1000 live viewers.
So shout out to everybody who's watching live anyways.
Anyways, Nico and Kent are battling for beard suppressed
supremacy these days. I love it.
All right, here's David Bailey, CEO of Bitcoin magazine.
He says in just 15 years, our rebellion has grown into one of
the world's most powerful political movements in the
world. Our resources and followers
double every year. Bitcoin is an unmovable object
and it cannot be negotiated with or outmaneuvered.
Change is coming gradually, then suddenly.
And I think it's happening. And the way that you're seeing
this is this is the signal, ladies and gentlemen.
Biden campaign in talks to accept crypto donations.
The article was initially dropped by the publish, the
publisher, the Block. Here's Nick Carter kind of
making fun of it. And he says White House campaign
strategy. We've been harassing crypto for
four years and it might cost us an election.
What should we do junior aide? Undo some of those anti crypto
policies? The strategist.
No, that won't do Mr. President Biden is asleep.
Senior aide. What about a minuscule cosmic
change which alters absolutely nothing but allows us to posture
as being probic pro crypto? And then in parentheses, it says
Biden giggles in his sleep dreaming about ice cream.
His aides interpret it. Oh, man, dude, that is
absolutely savage. And normally, you know, I, I
wouldn't, I would, I would remain neutral.
But again, I think, I think his administration has been
extremely hostile. And we have to remember they
made it political. We didn't make it political.
It was them that made it political.
So I mean, it's just interesting that they're trying to walk it
back. And again, like, I, I think it's
important that we remember all the things that they've done cuz
it's, we talk a lot about this, but I think it's important to
remember what are the actual things.
And I think Nick Carter, like laid it out perfectly in this
suite. And it says under Biden, the
administration bullied the banks into dropping crypto clients,
engaged in law fair against every major exchange and token
project. Harassed Bitcoin miners and
tried to bully utilities into dropping them.
Forced a great number of high quality projects and stable
coins abroad. Refused to clarify securities
law while haphazardly enforcing it.
Block balled the Bitcoin ETF until the court forced approved.
Made D5 virtually illegal in the US Made participating in Dallas
legally risky. Made blockchain privacy
effectively illegal. Refused to let banks touch
crypto. Veto the overturn of that rule
which Congress protested. Dropped crypto specific bank
charters and denied charters to new crypto focused banks.
Refused to pass any clarifying legislation until crypto becomes
existential for the campaign and they have the absolute temidry
to think we're going to donate crypto to the I mean, that's a
good point. Like this is like like they're
pandering, but like it's like, I don't believe it.
It's just like they haven't changed too.
Like the guy vetoed one of the, you know, one of the most recent
things that they tried to pass in Congress like recently.
So I just don't believe it. And it's just interesting how
this has escalated so quickly. I think a lot of us inherently
knew that and that eventually there was going to be a clash.
This is the separation of money in state.
I just didn't think we're going to, you know, it was going to
just become this like mainstream issues so quickly.
And I think that's, you know, Trump going out and meeting with
the CEOs of these public miners and, you know, saying basically
like, look, I'll be anti CBDC pro Bitcoin.
We'll I'll protect the Bitcoin. He didn't even say I'll protect
the Bitcoin mining. She's like, I want all the
Bitcoin to be mined in the USA. Like that is absolutely nuts,
which is not a good thing, but is a good thing in the sense
that it will get nation states to compete for the hash rate.
Max Kaiser calls this the hash roar, right?
And he says he's making basically making the argument
that this hash roar, that this hash rate war is going to be one
of the catalysts that sends Bitcoin to potentially 500K
according to Max Kaiser anyways. And the article goes on to say
Bitcoin will hit 500,000 because the United States will start a
giant hash war with Iran and Venezuela.
And it's already started. In the latest episode of the
Kaiser Report TV show, Max Kaiser predicted that the
Iranian and Venezuela regimes wood forest the Trump
administration to embrace BTC. You know what's crazy about
this? This was written in 20/20/2020.
Hit the nail on the effing head. Anyways, in the latest episode
of his Kaiser Report TV show, Max Kaiser predicted that the
Iranian and Venezuelan regimes wood forest the Trump
administration to embrace BTC. And it goes on to say thanks.
Since Iran potentially controlling 3% of the Bitcoin
hash rate already and Venezuela briefly, the US joining the
fight for Bitcoin supremacy is only a matter of time.
And then at some point America will say we've got to enter the
21st century race of mining Bitcoin.
And then they'll seek to they'll, they'll try to seek 20%
of the hash rate and then security goes up dramatically
and the price goes to 400 to 500,000.
For Kaiser repeating previous arguments, Bitcoin represents
the Reformation of free speech, which governments deny citizens
by controlling the currency and therefore the in the entirety of
their position within the state. Quote.
Bitcoin is the Mona Lisa of the 21st century.
It's self aware, it's observing us through the quantum
mechanical aspects of technology and it's channeling the eyes of
God. Whoa, OK, so this is God looking
at us through the protocol and trying to figure out how do we
fix this human species because they've gone way off track due
to central banking, unsensible, unconfiscatable, indestructible
wealth. The current situation on macro
matters versus the suffering of many Americans.
And he's referencing some of the political speeches that happened
over the last four years, anger with the government and the
dilution of the US dollar. Contrast with stock markets
seeing seeing their best quarters since 2011.
At the same time, the Federal Reserve has taken ownership of
huge, huge chunks of equity markets equal to 30% of USGDP.
I mean, here's the last quote he says.
The truth is, if you want individual sovereignty, if you
want justice, if you want unsensible, unconfiscatable,
indestructible wealth, there's only one way to go and that's
Bitcoin. I mean, dude, like, I don't even
know what else to say. Like this is absolutely insane
that he wrote this article back in 20.
And I'll give simply some credit too.
I mean, Opti, I think we said like multiple times when we were
talking on the show, especially when the Biden administration
initially took their steps towards the industry.
And I think really the straw that broke the camel's back is
the arrest of the samurai guys. I saw the industry just wake up
after that happened. That was like a catalyst.
That was like the moment that sparked something.
I remember I was so upset. And before that we on simply
Bitcoin, we've always taken this, you know, this, this
neutral stance when it came to it.
But that that episode, I came to the realization that like, look,
use common sense. There's two sides RFK there,
there's two sides, RFK junior and Trump on one side that have
taken an anti CBDC stance, a pro Bitcoin stance.
And on the other side, you have a president who has taken an
anti Bitcoin stance and a pro CBDC stance.
And I said like, look, like I think this is inevitable.
I think that this is going to become political and it, and it
started like ever so slowly. Like initially it was the, it
wasn't any of the primary candidates.
It was like RFK, it was Ron DeSantis, you know, it's like
people on the side, but it wasn't really anyone in the top.
And then all of a sudden, like the more they press, it's almost
as if the more Bitcoin, the more stronger Bitcoin gets, right,
Which doesn't surprise me, but it's just, it's, it's still
surprising to see for the first time because you're seeing it in
discussions that you would have never have imagined.
Like I remember 2017 like we, like, I could never like that.
You could have never have imagined this in your wildest
dreams. Yet here we are, which I find
interesting. Now I'll pass it on to Kent.
Kent. I mean, I, I think Kaiser hit
the nail on the head and I think he was just, he understood, he
understands the game theory of Bitcoin.
If you understand the game theory of Bitcoin, then a lot of
these predictions, it's not like a question of will this happen,
It's a question of when will this happen.
If you understand Bitcoins incentives, you fundamentally
understand at the core that we've already won.
What they could do is they could try to slow it, but they can't
stop it. And if they can't stop it, then
it's just a matter of time before countries worldwide,
which by the way, when Kaiser wrote that article, Bhutan
wasn't mining Bitcoin, El Salvador wasn't mining Bitcoin.
I remember there was a change in tune by the government of
Paraguay. They went from, oh, we have to
ban this thing to actually, no, this is an essential part of the
energy sector. But this is happening worldwide
where you see politicians attack Bitcoin and they fall flat.
And it's just fascinating to see.
What's your take, Ken? Man, I just think Satoshi
harnessed human self-interest and I think we all capitulate at
some point or another to the incentives of Bitcoin.
And it is inevitable from my standpoint.
And it has to be fought for. And I think that all the all the
plebs and Bitcoiners that have been in the ring fighting to
drive adoption here is ultimately what pushed it up to
the political class, the RF KS and the and the Trump's.
I mean, you look at it, they're politicians that need votes,
right? And they realize that there's
enough of us out there that our vote carries water and they need
to cater to it. And it is not a surprise to me
that we see even the Biden camp starting to put lipstick on a
pig with their approach here to saying they're pro Bitcoin,
right? So none of this seems shocking
or surprising except for the pace, right?
I think that that is the thing that that gets me as well.
Nico is holy cow. Like I got in, got my first corn
at the end of 2015. And remember reading people, you
know, the O GS, like, holy cow, this is this is going to play
out in XYZ sort of way. And it's like, yeah, I guess I
can kind of see that. And now to see it like playing
out exactly as prescribed and you've got the profit like Max
Keiser, which I don't know any other word to accurately
describe him. Don't agree with all of his
takes, but he's been dead on the money following incentives all
the way through since Bitcoin was what, 1/4?
I mean, it's just phenomenal to see how how, how accurately you
can predict the future with Bitcoin's adoption just given
the incentives that are inherent in the system.
So yeah, I continue to just grow more and more bullish and and
convinced and convicted in my in my holdings of Bitcoin.
Absolutely. I mean that that's something
like it, it, it, you know, as time progresses it it's just
'cause you go, you spend, I would say the first two years in
Bitcoin like questioning your actions like like, you know, can
this thing be banned? Could this thing be stopped?
This this thing like are my private keys OK?
How's myself custody? Like you go through like, what
is mining? Like you go through this like
rabbit hole of existential questions of like what am I
doing and what I'm, what is this, you know, and then
sprinkle into that the price action, which like just fucks
with your emotions and paddling it easy on you.
Like it's easy in practice. It's not easy in, in the, in
actually doing it. But through that kind of rabbit
hole through, you know, going through the gauntlet, of course,
your conviction gets stronger. You start to learn a lot
everything and anything about Bitcoin 'cause you're as your
net worth goes up, you're like, what am I actually holding?
What is this like? Do I really actually own those
private keys? Like am I taking self cussy?
Am I running a node? You know, should I get into my
you go through all of these kind of questions as an individual,
as a Bitcoin holder and it's I think it's just part of the
course anyways, Opti, what's your what's your take on this
bro? That was some like, you know,
crazy next level like Alex Jones, the the futures news
today prediction by Kaiser. Dude, he actually, he hit the
ball out of the park, bro calling that Trump inevitably
getting into Bitcoin back in 2020.
It's, it's, it's absolutely insane.
Yeah, I mean, Max Kaiser is the type of cosmic Bitcoin rants and
content that I'm here for. That's and and it really just
goes to show if you stay bullet hearted enough and you work from
first print first principles like Bitcoin fundamentals, you
will always be right on a long enough time frame, you will
always be right. So shut up, Max Kaiser News that
we saw come out yesterday. It it's too little too late as
far as I'm concerned. And I really just can't wait
until the Biden administration flip flops on that stance next
week as well, because that seems to be the pattern that, you
know, embrace it a little bit. And then the next week they do
something to undermine their position.
So I'm guessing next week we'll see something else that that
basically plays into that pattern.
And I'd like to everyone in the chat basically saying and where
we all are, are agreeing and saying the same thing.
Like we all know politicians pander to get votes, but this is
the worst kind and the most ineffective form of persuasion
I've seen from a politician in a long time, which I think is
saying something, you know, like, I'm glad that we brought
up the Nick Carter tweet because it lays out everything they've
done the last couple of years to fight Bitcoin.
And now they're like, oh, look, we're taking Bitcoin donations.
We're cool. It's literally like the the
Steve Buscemi meme. Like, hello, fellow kids.
Like I'm here to join the party. And it's like, man, this is not
going to get votes. And of course, I, I, I'd be
remissed here if I didn't say, don't give politicians your
Bitcoin, any side of the aisle huddle your Bitcoin.
This is the point of stacking Bitcoin.
It's to, you know, make a vote to opt out of the system.
And the more money you give them, the longer they stay in
power. So as much as they want our
Bitcoin, don't give it to them. But it really just goes to show
a very pivotal point that we've been saying for a long time.
And now at least it's breaking into the mainstream of just how
powerful a movement and a political class, quote UN quote,
if if I could say that that Bitcoin is are.
And I remember saying this last year, and I always forget in
regards to what the topic was, but something came out from
Washington, DC. It was some, I forget, they were
like fighting Bitcoin and Bitcoiners stood up.
And in one of the official articles coming out from the
legacy media, they basically said that as a voting bloc,
Bitcoiners are one of the biggest voting blocs and hence
why they're trying to pander for our vote and hence why they're
now trying to make sure that they're on our side.
So just goes to show that as a Bitcoiner, we're on the right
side of history. No amount of gaslighting is
going to stop this movement. And now, you know, I mean,
obviously if you study Bitcoin, you've been around Bitcoin long
enough, then, you know, you're right.
But now you're starting to see this play out.
And we've been saying for a while, like we thought this was
going to play out a couple years from now and it's happening
quicker than we thought. So, you know, 500 K this year or
next year, Nico, I, I agree with Kaiser.
Let's go Bull market incoming. Let's go.
And it's important to remember everybody.
And also shout out to Balaji because he absolutely hit
Balaji. Thanks, Opti.
He killed it with this. The next one isn't red versus
blue, it's orange versus green, BTC versus USD for all the
marbles. Like, absolutely hit the nail on
the head with this. This is something that we've
been echoing on the show many, many times.
Honestly, I thought I coined it, but apparently not.
But wow, it's something. Niko just straight up ripping.
Stuff down. I mean I didn't.
This is the first time someone someone tweeted this.
I think it was in our Telegram or something in the orange pull
up and I was like, holy crap, this is something that we've
been saying on the show. So I think it's important to
remember that guys, fundamentally it's not Democrat
versus Republican, it's not red versus blue, it's not liberal
versus conservative. Really it's people that are pro
Bitcoin or anti Bitcoin. If you're anti Bitcoin, I can
tell you that you're pro censorship, most likely, that
you're pro authoritarian, you're pro war, you're pro slavery and
all those things. Like if you're pro Fiat, if
you're pro USD, you're all those things because I don't think
Fiat can exist without an element of coercion.
It needs to coerce people into the system versus Bitcoin, it's
a voluntary system. It's just bitcoins incentives,
like Bitcoins incentives are the best.
That's why people adopt it. There is no government trying to
coerce people into using Bitcoin.
It's just people are just like, this is superior money.
This is better for me and my family.
That's why I'm going to use it, right?
So I find that really, really interesting.
And that's something important to keep in mind as this election
year moves forward. And during election years,
things get heated, right? Things get heated.
People are like, they don't like certain political candidates.
And what I got to say is that look, there's two candidates
that are pro Bitcoin. We have Trump and we have RFK.
If you don't like Trump, then vote RFK.
But what I can tell you is that if you vote Biden, you're voting
for Fiat, you're voting for pro CDBCBDC.
And I would say that's not a good thing in my opinion
anyways. Or you could take the camp of
Opti, right, which is like acceleration is maxi.
It's like, let's just set the like, let the system burn even
quicker. Let the final battle commence so
we can win once and for all. Personally, I don't want to be
in a gulag, but that's, you know, that's.
The gulags are going to be lit. I don't know what you're talking
about. Do you think they'll let us live
stream from the gulag? We're basically already doing
it, so yes. That's deep, that's deep all
right, everybody, before we get on to the culture and talk about
SAS mining talk also about Kent, I do want to give a very special
shout out to our leads. No, these Potter, one of our
sponsors, a great sponsor. Of course I'm talking about
orange pill app. It's it's the Bitcoin social
layer stack friends who stack SAT's joined the 10,826 bit
corners that are currently on the app has a really cool
geographical feature. So if you're traveling, you move
to a new city, you don't know any bit corners near you.
You can pull up the orange pull up and it will literally show
you. Has also a a filtration system
so you'll only find like minded and fellow bit corners on the
application is the best place to DM me.
Can't really find me anywhere else.
So if you want to reach me directly, I do answer every
single person that sends me a message on orange pull up you
can find me. On Orange Palat.
All right, everybody, let's get to the culture.
Talk about SAS mining. Here we go.
The daily culture. All right, everybody, I do want
to give a shout out to our sponsor as well.
Kabir Racks. The best place, the most trusted
place to buy, sell and host money human.
Check out their racks today by scanning the QR code on your
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saying did we miss the news? No, we hit the news, brother.
We talked. About we talked about.
Passport and Foundation and all that stuff.
And. Anyways, today we're gonna talk
about SAS Mining. SAS Mining is is an incredible
company and for full clarity and transparency, I am an advisor,
but I wouldn't be advising a company that I truly didn't
believe in. So it's Bitcoin only and they're
making the barrier to entry into mining incredibly.
Like you guys are making it seamless.
You guys are making it easy to do.
And I love the, the, the, the me and Kent were talking earlier
on. I'm like, dude, so like you're a
Bitcoin hoster. He's like, no, Nico, we're
Bitcoin mining as a service. And then I thought about him.
Like, damn. It is.
Absolutely. As a service.
And that I think comes with the focus that you guys have paid
attention to the UI, the focus that you guys have paid
attention into your reputation, the focus that you guys have put
into just the user experience overall, including the support
as well. And I think that goes a long
way, especially because I'm not gonna name any names, but I
think the hosting industry gotten a bad name for itself
over the last four or five years just because there were some
players that didn't value all the things that I just
mentioned. So.
So, Kent, thank you so much for rejoining us on the show today,
man. And excited to talk about SAS.
Yeah. So we, we saw that when we set
out right like we saw that reputational risk and we said,
hey, you know, the only way to deal with hundreds of people in
a, in a good equitable manner is to build software to automate
processes, create transparency and pair it with quality
customer service. And so that's what we aim to do
from the very beginning, because we, we correctly deduced that
just by building reputation, we could elevate ourselves above
the masses. And so I'm, I think one of the
things that I'm most proud about here at SAZ Mining is that we've
only been growing by word of mouth, right?
Like yourself that, that agreed to be an advisor after we've
been delivering for clients. And you heard our service.
That is how most people are finding us, right?
We had some very early stage people that, that saw what we
were up to and jumped aboard with our first data center in
Wisconsin. And then from that we were able
to to leverage a second data center that we are now almost
done filling in Paraguay. And you know, giving that
opportunity, proving that we can work across multiple nation
states, I think has given us great leverage to to lean out in
the market and say, hey, look, if you're looking for a place to
DCA into a Bitcoin position and do so to lower costs in the
exchange, like you can trust us, right?
Because at the end of the day, there is no way to provide
access to this opportunity without a high trust
relationship with our clients because we have possession of
their mining rigs, but it's their mining rigs, right.
So that's just by definition a high trust relationship and we
recognize that early on and leaned into it and, and
thankfully we've been able to deliver and, and you know, you
can see our Trustpilot reviews are reflecting that that we are
delivering. Absolutely.
If you were to give for any new viewers and like Nico, What the
fuck is SAS mining? What are they talking about?
What is Kent talking about? What are they even talking
about? Can you give a quick elevator
pitch one to two minutes? What is SAS mining?
Why should people care? Yeah, so, so SAS mining, we make
it easy to mine Bitcoin from from your home, right?
So anywhere in the world, a couple clicks on our website and
you can pick up a mining rig with us, buy it traditional
e-commerce style. We procure it, get it shipped,
delivered, deployed. Right now that's in Paraguay at
our data center. And once it's deployed, you set
up a Service plan and on a monthly basis, you get billed
just for the electricity that your mining rig consumes.
And all the Bitcoin that that mining rig produces gets
delivered to your wallet address.
So how does SAS Mining make money?
We don't make money selling mining rigs.
We don't make money selling electricity or maintenance.
Where we do make money is taking just 15% of the block reward and
having the mining pool split that upon payout so that we
receive that to our Bitcoin wallet and you receive your 85%
to your Bitcoin wallet. So we never touch your Bitcoin,
It's yours the entire time. But because the only way we make
money is the same way our clients do, that means we care
about the exact same thing that clients do, which is, hey, how
quickly can we get your rig live?
How do we maximize its compute or hash rate?
And how do we make sure that it is up as long as possible,
regardless if there's curtailment or rig repairs that
are needed. So yeah, that perfect alignment
of incentives and transparency with how we make money I think
has been a key asset as well. Absolutely.
I mean, alignment of incentives as a bitcoiner, incentives make
the world go round, right? And I think it's important for
incentives to align because if not, it's like you're almost
acting if someone is acting unnaturally if it's not, if the
incentive structure is not aligned, right.
So I fundamentally agree with that Opti.
Yeah. Ken, I know you wanted to stress
a point here about you believing that SAZ Mining is disrupting
the Bitcoin exchange industry and your thoughts on it being
the best way to DCA. So let's talk about that and
then we'll talk about the cost of mining like you wanted to us
stress as well. So talk about why you think SAZ
mining is disrupting the exchange game.
Well, I, I'm going to, I'm going to make an argument for not a
very well loved service by a lot of us bitcoiners, but a
Coinbase. When they came along, they
created a user experience on an exchange to acquire Bitcoin and
Bitcoin adoption took off. I I think that there was a clear
inflection point when they came along.
The problem is that the entire exchange based approach to
acquiring Bitcoin is not Bitcoin native.
The way Satoshi designed the network is for people to acquire
Bitcoin by mining. The problem is it's not been
accessible right. So by building this technology
layer that sits on top of the mining stack, what we're
ultimately doing is creating a way to compete with the
exchanges and why it's such a viable approaches.
First of all, it's just better to mine and acquire your own
sats. Like there's nothing more
gratifying than having sats hit your wallet that you created
with your own mining rig. So that's incredibly powering,
but there's a whole host of other benefits, right?
You just purchase your mining rig up front and then the value
of that is being returned to you by the Bitcoin rewards over
time. So it's a DCA process.
And by the way, when you actually go look at what the
cost to mine a Bitcoin is right now, that's lower with us than
going to exchange. Now you still have counterparty
risks with us, right, as compared to an exchange, but
they're different, right? Like we don't have to know
exactly who you are because we're selling hardware and
service, right? We don't have all the regulatory
overhang that comes with running in exchange.
So we don't have to hold on to your identifying information and
potentially have that hacked or or or delivered in a bankruptcy
proceeding. And so for this reason, it is an
alternative way to acquire Bitcoin and to maxify your your
bang for your buck and acquiring your SAT.
So for this reason, I think that as we make it more and more and
you know, to be fair, we're not perfect, right?
We're still a fairly early stage startup and we see where we can
take this business model. And as we continue to remove the
friction, you know, I think we're naturally just going to
peel people away from going to exchanges and other DCA
services. And at right now, at this point,
my argument is just, hey, just diversify how you're DCA ING and
come check out a mining rig with us.
I don't think we've hit on this yet.
Right there, there's an advantage from using an
alternative to using a Bitcoin mining as a service.
And that advantage is that you get Bitcoin cheaper than if you
were to just buy spot Bitcoin. Is that true, Ken?
That is correct. So the way we look at it is
we're leveraging a model that Galaxy Digital put out, right.
So Galaxy Digital was one of the big financiers of Bitcoin mining
rigs by a lot of the the big mining companies, prop companies
and they put out a model, I think it was in 2021 of how do
you evaluate your cost to mine a Bitcoin because everybody was
sort of coming up with their own approach.
So it's nice to have this third party model.
We just plug in this this specific opportunity with our
mining operation. And when you plug it all in, you
can see that the average cost right now to mine a Bitcoin is
about 45 K. Now, how does this model work?
And I think it is important to touch on that.
First of all, it's not a model that is based on the future
price of Bitcoin or the future hash, right?
It is simply saying, hey, if, if I want to mine a Bitcoin today,
how much is it going to cost based on the current dynamics?
And so what's beautiful about that is you avoid the entire
argument about what's Bitcoin's price going to do in the future.
And it's hash, right? You just look today, what is the
cost of mine in Bitcoin? And I think that that makes it
pretty clear and also makes the value proposition for mining
much more because all of us understand what the price of
Bitcoin is. But to bring that to mining has
been, I think, challenging and introduces a whole different set
of metrics. So my argument is, hey, let's
leverage this model that a lot of publicly traded mining
companies are using, plug in our numbers and just make sure to
educate the market like how this model works and you know, can go
play with it yourself. But from our our vantage point,
you know you can DCA into a Bitcoin position right now for
about a 30% discount as compared to the price of Bitcoin on an
exchange. Yeah, love it, love it.
And then and then that gets progressively like if the price
goes crazy, right? Like if we're at 100 and 120 K,
like you get even, you get even bigger discounts.
Is that correct? Yeah, Yeah.
So if the price is suddenly like our, our cost basis does not
change near as much as the price of Bitcoin will, right.
So your cost of your mining rig, yes, it may fluctuate a bit.
So far it's not moved much with the bull market that we're in.
So that's good. But hash rate and difficulty do
do change. And as that changes up, you
know, if the costs are going to increase, but typically that
does not move as fast as the price does.
So you're still going to see a big gap between the price of
Bitcoin as it runs and your cost to to mine a Bitcoin and it
should grow. I mean, we've seen it as low as
about 40% of the the costs on an exchange.
Absolutely, man, This is this is very, very cool, very
interesting. And I think a lot of people are
just they're not aware of it, so to speak.
Anyways, Opti, what's your take on all this brother?
I mean, yeah, like if you get cheaper sats for KYC free sats,
like it's definitely a good, a good idea to consider at the
very least. And on that point, Ken, you guys
do have a good visual here on the cost of mining a single
Bitcoin. So can you educate the audience
out there what, what exactly are they looking at and what's this
process like? Yeah.
So what what you're looking at is an update.
We, we updated that I think last Monday about 48 K and I just ran
the numbers as of Friday, it's 45K.
But what you're looking at is just us trying to make it very
simple like Hey, your, your, your cost to mine in Bitcoin is
cheaper than going to an exchange right now and just
making that comparison. But if you Scroll down a little
bit, the process is described below for how you get into
mining, right, which is you purchase your mining rig.
We get a procured shift to the facility.
Once it's there, you know, you set up your your payment plan
and then the rewards go straight to your wallet and it's all done
in an automated, easy to access way.
And, and a lot of this was just born from my experience as a
bitcoiner trying to acquire Bitcoin by mining in Portugal
and realizing I couldn't do it in a way that was very effective
and, and tried an in home mining experience.
And I was like, we, there's got to be a software solution.
And so, you know, this is, that was a big, big part of the
inspiration where you are now is we do, we do accept outside
mining rigs. It takes about 20 mining rigs to
get shipped to to Paraguay. But we do have some clients that
have said, Hey, you know, I'm, I've been mining at home or I'm,
I'm, I'm with another operator and I'm not really happy with
how that's going. So can I send you my mining rigs
and we work it out for them. It's a bit of a custom process
though. I mean, you guys do offer it
though, right. So yeah, OK.
And then the but it's 20 miners minimum that that's where it
makes sense for you guys. Yeah.
Well, you see that or you kind of have an unknown time delay
because we need at least a pallet to ship to to Paraguay,
right And a pallet's about 20 mining rigs.
So if you're not shipping us a full 20 mining rigs, then we
need to wait till we accumulate enough.
Gotcha. Interesting.
Opti, what's your take on all this, brother?
Actually, I wanna, I wanna ask a question that was in the chat.
I think I, I think I lost it. But Kent, someone was saying
that cloud mining was started 10 years ago and I know you guys
don't like that framing. So what's the difference between
SAS mining and Cloud mining? The, the biggest, the biggest
answer is a serial number, right?
Like your mining rig is your, your mining rig and we track it
from the point of procurement. It is your serial number
attached to your mining rig all the way through.
And we designed it this way intentionally because what I see
as cloud mining, it abstracts the hardware from the what you
own. So it, it separates hardware
from hash rate. And I think that by doing that,
it creates an inherent incentive on the business side of the
model to abstract that and abuse, you know, you do have a
certain set of control that you can, you can utilize and, you
know, not not a good way for the customer versus US.
Like by having every client know and we know whose serial numbers
or whose we're forced to have a different level of discipline
that keeps, keeps us from being able to drive the business off
the rails. And I, I think it's a key
differentiator. It's much harder to do as well.
It's much simpler to simply sell hash, right, because it's very
easy to abstract that that way. But we, we looked at it for two
reasons. 1, the discipline and, and avoiding that potential
abuse situation that has occurred in the past.
Reputationally, it could be damaging.
And secondly, we looked at and said, you know, the SEC might
not like that model at some point in the future.
And if we're just selling hardware and servicing that
hardware, we're no different than any sort of data compute
centre and we can kind of, you know, get lost in the the crowd
of the server based services that are out there.
Yeah, love it. Ken, I have a question for you.
I'm just trying to put my, you know, my trying to put myself in
the shoes of the audience. Bitcoin mining as a service, SAS
mining, That might seem a little bit out of the technical hands
of some people who are watching. So if you were to get started,
right, what would be the process?
You're like, OK, this sounds interesting.
I'm gonna head over to sasmining.com.
What do they need? They need their name, e-mail,
credit card. How many steps does it take to
get started? So it's your typical e-commerce
checkout, right? So I think you can frame it that
way. We in the beginning, we being
aligning ourselves with the Bitcoin ethos.
We tried to be extremely privacy focused and just collect the
name and e-mail address. And then we found we couldn't
get a hold of our customers and we forced our customers to give
us phone numbers as well. So these are just for
communication purposes. The reason we have it so you
choose a mining rig, you can proceed to the next page after
you accept that you know there's going to be a Service plan later
that you're going to have to sign up for.
Simply Bitcoin in there Opti Put simply, Bitcoin in there.
Yeah, yeah, we got a a nice little discount code for all
your audience members here. You have to press apply promo,
apply promo to oh man. And then and then you get signed
in once you got to create an account.
So yeah, your your typical your typical account based.
Sign in on yours Nico. I'm still logged in apparently.
Rip it, rip it. Boom.
There you go and and so you've got down below a few different
payment rails. So we've got Bitcoin and
Lightning that's our favorite. Of course you give a little
discount to it because it's cheaper genuinely for us than
any other means at USDTUSDC wire.
And then credit cards we have to do manually, but we do accept
those. So once you go through that
process, it's purchase we're we're getting orders should.
I purchase some Niko. No.
But sorry, can you just? Gave me the you just gave me the
idea, bro. I just paid everyone out, bro.
You just we just did payroll. No, but you just gave me the
idea for next month, bro. So that, that actually sounds
like a really good idea, Kent. We should definitely, definitely
go through the process of of purchasing a minor next month
and just show the audience. I think that would be a really
cool exercise. I agree with you, man.
I'd love to make that happen. I think maybe we can do it in
person because I'm going to see it mining disrupt, right?
Yeah, absolutely, man. I'm looking forward to it.
Yeah, Mining Disrupt here in Miami, looking forward to.
It's going to be awesome. Opti, I think I'm flying you
down, by the way. Really, this news to me.
Okay, so that's going to Miami. That'll be interesting anyways.
Wait, wait. One last question for Kent and
this might be speculation in regards to considering that you
do work, you know, with mining, you probably have a little more
insights with the back end on what's going on in the mining
space. What is, I don't know, maybe
some predictions that you have for the mining space going into
2025 or maybe till the end of 2025.
Are you going to, are you thinking we're going to see
incredible increases in hash rate?
Like what's your thoughts on just the general mining space
right now? Well, I think I'm, I'm a price
cycle maximalist and and I believe that you don't want to
be a minor if you don't believe in the price cycles.
But what that means is that when Bitcoin's price rips, everybody
that's plugged in is going to absolutely score, right.
So we are in the phase before that occurs.
So this is actually kind of the the least profitable time frame.
If you look at the Bitcoin price cycle, we just have the having
hash rate, there's still hash rate pressure going on and the
price hasn't started to rip yet. But once it does start to rip
again, assuming that the the price cycles play out, you know,
this is the most profitable time to mine.
Now afterwards, we'll go into another bear market and things
will get slim and tight again. But for even the clients that we
onboard at the beginning of January last year, depths of the
bear market, you know, they still saw the saw a return on
their their mining rig. And the way I look at this is a
little less like hey. You want to look at it from a
month to month, like cash flow basis and more.
Look at this as a Bitcoin acquisition vehicle where you're
just cycling your Fiat through a piece of hardware and into
Bitcoin and you want to hold that because anybody that's held
Bitcoin for at least four years has come out on top.
So I think that if you have that approach that you're looking at,
this is a way to hold Bitcoin, I don't see how you're really
going to lose over a four year time frame.
But that said, you got to analyse the risks on your own
and come to your own conclusions.
But we're just trying to make it really easy for folks to to jump
in on the mining side and further predictions in the
mining space. I mean, I think that there's
some really unique things that are coming out specifically
around eating. I think that almost anything
that's done with heating electrically is going to insert
some sort of Bitcoin mining aspect to it just to reduce the
cost. Because if you're going to, if
you're going to be mining, you're producing heat anyway,
why not put that heat to use? I think that'll become a bigger
factor in the in the years ahead.
And I also think that we're going to see instead of now,
like we're in Paraguay, right, we're consuming excess
electricity. But I think that you're going to
start to see power generation projects designed from the
ground up with Bitcoin mining integrated.
And I think that's the next real phase is, hey, where, where can
we go generate electricity for super cheap?
And by the way, now we've got a buyer of first resort for that
super cheap electricity. So let's go plow the capital
into developing this energy source.
And then by the way, now that we've got the capital and the
energy there, maybe somebody wants to live there and start a
business and start a home. So I think in the long run we're
we're going to see Bitcoin mining actually plant the the
the basis for a future like homesteading movement of sorts.
Absolutely, I 100% agree with you, man.
There, there's going to be so many places around planet earth
that were counted out, right, But they had, they have excess
energy capacity and they're just, it's too far away from any
anyone and anything for it to be economical.
Now Bitcoin miners are like, yo, that looks awfully good over
there. And it, it's kind of like the in
a way, it's a, it's the new, but more sustainable gold rush, you
know, because with, with gold, it's like, you know, that that
easy to plug gold kind of ran out pretty quickly and those
gold towns just died versus I think we'll be good in mining
terms for the next 100 years or so.
And I think even after the subsidy runs out, you know, and
what year 2042 or something, you know, I think that the the fees
on its own, hopefully the Bitcoin network is so massive at
this point, at that point that I think the fees on their own will
be able to carry the day anyways.
Wait, wait. Wait and you go, I got one more
question, sorry. Sure.
Considering we got a little time, Kent, we kind of talked
about it today, you know, with the with the numbers, but
considering all the stuff we see and it's more like a general
overview and you can plead the 5th if you want to, considering
all of the crazy regulatory landscape that we've seen
revolving around Bitcoin mining. And now we're seeing, as Nika
loves to say, the Overton window shifting.
It's exploded. Bro it's.
Exploded I. Have no footage of it.
It explodes, yes, Mika Mika's dad jokes on fleek today.
Anyways, Kent, what is your thoughts on maybe that pivot
happening for Bitcoin mining, for the Bitcoin mining space at
large in America? Like now that we're seeing the
political narrative shift around Bitcoin and the Trump
endorsement, like, how are you feeling as a Bitcoin miner?
Well, I definitely am feeling better about the security of our
operations in the US, right? And well, I don't think that
we're completely out of the woods yet.
You know, certainly endorsements by two of the leading
candidates, presidential contenders, right?
It helps. Now as far as like you know you
some folks have have been asking about like hey, how much
regulatory risk is there both in Paraguay and with you guys.
I think one unique angle that is not entirely obvious about our
operation is, yes, we do represent a single throat to
choke if a regulator came after us.
However, we don't own the equipment, right.
So if a regulator did come after us and say, hey, you got to shut
down your mining rigs, I would say, OK, here's the contact
information for all the folks that we've got, like what would
you like us to do? Because we can't really stop
them from operating with the contracts.
So we've got, you know, we're being paid for this service and
they're not ours. How would you like to handle it?
And I think that that sort of works the system a little bit
because now we've got hundreds of clients that they need to to
speak with directly instead of one single entity that
represents all that hash rate. So I think that that's an
advantage. As far as Paraguay, you know, I
see very little regulatory risk there.
I know that coming from AUS perspective, operating outside
the US is can be seen as as as a bit difficult and risky.
However, we successfully analyzed the incentives there.
You know, they had all this excess power that they were
selling at a loss and, and, and it was a drag on their GDP.
And now Bitcoin miners are turning it into and flipping
that liability into an asset, right.
And so the politicians, I, I said from the beginning, it's
like, man, that's going to be votes for politicians in the
long run. So they're going to embrace
this. And there was a bit of a hiccup
about two months ago where there is a, there is an attempted ban.
And that was from a very small portion of the political class.
And instantly the rest of the political class came out to
embrace it. And now the economic ministry
has embraced Bitcoin mining and saying, look, we only want to
sell this excess electricity to miners.
We don't want to sell it to Brazil anymore, which is where
they were selling it. So I actually see that it's been
de risked in Paraguay and is it is an opportunity to become like
the next Texas really because there's about 5 gigawatts of
excess power that can be harnessed there by Bitcoin
miners such as us. Man, that's absolutely bullish.
I'm bullish on SAS, bullish on Bitcoin, bullish on Paraguay.
Paraguay obviously doesn't want to have fun staying poor.
That that that announcement from the politician was really
interesting where he just say he's like, look like this is
it's what you said. I'm like it it it makes more
sense, you know, using this electricity in country then
sending it to another country and we're going to get more bang
from our buck, right. And I think it boils down to
what we were talking about incentives early on in the show.
No one is better than their incentives.
And I think Bitcoin provides these very clear incentives that
does either two things. It exposes governments for
acting politically or the the politicians and government are
like, you know what, this Bitcoin thing actually makes a
lot of sense, right? And then you have an alignment
of incentives, which is I think something pretty hard to see if
you live in the US. But I think an example of a
country which has fixed the incentive structure thing is El
Salvador. And I think you're going to see
more along the way anyways. Kent, do you have any last words
for our audience watching right now?
Oh yeah, man, just hit me up and study what we're up to and, and,
and prove for yourself that you know, the, that, that we're
earning the reputation and trust of, of the community.
Do your own research, you know, check it out.
Don't don't don't trust verify all those good things, but I I
would say that we're living through a historic time frame
right now. You know, Niko's liking to blow
up the Overton window. I don't know if it's truly
destroyed, but we've I've got a copy of gradually.
Then suddenly I picked up from Parker Lewis here and it feels
like that is exactly where we are and I love it.
I'm here for it. I'm, I'm glad to have so many
other freaks and and crazies out there that are helping to make
this happen because I think by God, we're, we're bringing
ourselves back from the abyss with the movement and the
pendulum starting to shift the the right direction, even if we
haven't seen the policies to follow just yet.
So yeah, let's let's, let's keep going forward here.
Amen man let's stay winning. We're going to win if we're on a
Bitcoin standard anyways Kent, thank you so much for joining us
on simply Bitcoin live guys. That was the show for June 13th
2024. I'm your host Nicos, my
legendary Co host, Optimus Fields, who's hurting today,
which is why man fields 1500 of you guys watching live should
smash the like button. Consider subscribing if you feel
we we provided you value and I do want to give a shout out to
our guest Kent, the CEO of SAS mining.
Check out SAS mining today, Bitcoin mining as a service.
All right, love you all. We'll see you tomorrow for brand
new episode of simply Bitcoin live.
Finish off the week strong. Peace out everybody.
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