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All right. 
What's up everyone? 

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It's your boy Opti, we are back 
for another interview. 

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I got an exciting one for you 
guys, in my opinion from what I 

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hear an absolute legend in the 
mining space so I am super 

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stoked to get this conversation 
going for you guys forgive me. 

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I think YouTube is acting up, 
but I am 100% positive. 

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We are streaming right now. 
So, shouts out to every single. 

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One of you guys hanging out with
us. 

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And without further Ado, let's 
just get into this. 

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What's up? 
JP is JP. 

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A Barrack absolute legend in the
space from what I hear with Nico

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and I'm super excited. 
So, how you doing today? 

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Supergirl, great. 
Thanks for having me on nowhere.

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Without further Ado, let's just 
get into it bro. 

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So Nico tells me that you were 
mining Bitcoin from a laptop, 

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tell the people how that was. 
So I did download the tools to 

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mine Bitcoin on my laptop, but I
was already too late back then 

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it was GPU. 
In fpga mining were just 

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becoming a thing and I fell into
the butter file a basic trap 

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which was this company in the 
United States and said they were

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going to make a 6 and they said 
it's going to be two weeks and 

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two weeks. 
Turn into two years and finally,

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they shipped my Bitcoin a sec. 
But I was GPU mining back in 

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2014, 2013 time frame and then 
got into large-scale theory of 

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money in 2016. 
Wow, butterfly Labs OG amazing. 

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Well way before my days but I 
have heard the stories Of the 

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butterfly labs. 
And I think they'll be some 

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parallels. 
I'll probably bring that in a 

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little later for everyone. 
But since you've been around in 

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the Bitcoin mining game for so 
long, what's your view on the 

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current state of Bitcoin mining 
and maybe even a little tidbits 

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of way you think it is going. 
So, I think right now, Bitcoin 

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mining is in a unique 
opportunity to grow and succeed 

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in the power industry and 
playing in the power markets, 

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more than it has in the past. 
You know you have the it 

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infrastructure. 
Was passed last year, that's 

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really pushing forward. 
This development of green clean,

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renewable energy that has no 
fuel. 

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So that means they can sell 
energy into - price points, 

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Bitcoin miners across the 
Midwest are taking advantage of 

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that and they're able to then 
participate in demand response 

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markets which is when you turn 
off your Bitcoin mining rigs 

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because you're not using energy 
or you're able to able to take 

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advantage of it because the 
prices of energy are negative 

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and then actually getting paid 
to use that energy along with 

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mining Bitcoin. 
So this provides a great 

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opportunity for large-scale 
minors to grow their operations 

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in the midwest, in Texas because
of all this cheap solar and wind

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that's being subsidized by the 
federal government will allow 

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minors to have a lower cost of 
deployment or lower cost of 

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operations when it comes to 
mining each Bitcoin. 

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So I think it's a great time to 
get in the industry and its 

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really it is maturing utilities 
are more eager to talk to us as 

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Bitcoin Miners and we're coming 
up with some collaborative 

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relationships that are symbiotic
for us in the electric grid. 

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Of it. 
If there is someone out there 

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thinking about mining, would you
recommend that they go all-in 

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right now or maybe wait a little
bit during this the tail end of 

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this bear Market that we're 
seeing? 

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Yeah so I think Bitcoin machines
are priced based on the amount 

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of Bitcoin it's going to drive 
over the course of the the 

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lifespan of the asset. 
So right now with the price 

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crashing down to twenty-five 
thousand dollars, do machine 

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prices could start if it stays 
here for a little bit. 

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Could start to change and could 
start to go. 

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Down farther than where they are
today. 

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That's really the key time to be
buying machines because B Main 

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and mikrobitti. 
There are taking an effect in 

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account that having event when 
they are pricing these machines 

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out, just like you should be as 
a minor. 

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So either now over the next 
month or two is a good time to 

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get in, because if the price 
starts to run these machine, 

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prices are going to increase 
just how it always works. 

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You have to be buying when you 
think Bitcoin is, is underpriced

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undervalued and that's when you 
want to be allocating Capital. 

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Do you want to go all-in? 
Now, it's a hard question to 

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answer. 
I would say doll. 

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Cost averaging unit a Bitcoin 
miners is a smart move and then 

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also deploying Capital after the
having for the having run up 

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where you can collect an extreme
amount of profits because two 

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things occur, people can get on 
infrastructure, fast enough in 

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the Bitcoin price runs up faster
than you can build new data 

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centers which allows the 
existing minors to make more 

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money. 
Love it. 

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Absolutely love it. 
I want to Circle back a little 

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bit. 
You were touching on the this 

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bear market and Bitcoin mining 
and energy and it Really seems 

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like this, this cycle. 
The last couple of years, has 

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really ushered in the idea to 
for energy producers that they 

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need to get on Bitcoin mining, 
if they want to continue to make

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profits moving forward, what's 
your thoughts on all this? 

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And then I have one follow-up 
question to this. 

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That I really like to ask friend
but what's your thoughts on this

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bear Market? 
Being kind of like the 

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quintessential energy market 
right now? 

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Like I feel like Bitcoin Miners 
and the Bitcoin narrative in 

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general is Into like the 
big-name energy producers, and I

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think everyone is waking up to 
what we understand about 

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Bitcoin, mining and energy use 
in general. 

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Sure so Bitcoin mining provides 
an alternative energy Market or 

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an alternative energy customer 
and not as a Bitcoin mining 

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itself but Bitcoin itself and 
extracting. 

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These new Bitcoins can be 
denominated in cost per megawatt

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hour. 
So the electric industry, when 

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we saw electricity, we price 
electricity were using a 

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megawatt hour which stands for 
million kilowatts of energy. 

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So a ton of energy is a unit. 
And what's happening is the The 

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market prices of non-fuel based 
sources of energy, which is wind

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solar are lowering the price of 
energy for the other people on 

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the grid. 
Those are your private Nat gas 

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operators. 
Those are your coal plants. 

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Those are your nuclear your 
hydro. 

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So they're getting less revenue 
on a per megawatt hour basis 

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because of these subsidized 
energy sources such as wind and 

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solar which are like I said 
selling into the market just to 

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get a tax credit not necessarily
even to make money on the 

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energy. 
While those other guys, they 

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need to find a way to pay for 
that asset and to amortize that 

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asset. 
So they can go from selling to 

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the market, to selling to 
bitcoin, by simply building a 

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Bitcoin mine and they can 
understand that. 

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The Bitcoin customer is never 
going to go away and the price 

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that Bitcoin is going to pay you
in terms of dollars per 

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megawatt-hour. 
Yes, that's going to change and 

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yes it will always go down over 
time but it allows the operator 

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to have more flexibility or 
instead of Selling their load to

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the grid for, let's say, $25 a 
megawatt hour. 

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They consult to the Bitcoin 
Network for 60 or 70. 

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And that's a massive increase in
returns for an industry. 

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That's used to deploying 
hundreds of millions, billions 

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of dollars of capital. 
So it only makes logical sense 

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that the energy operators, the 
energy, producers come into the 

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Bitcoin mining space in order 
for them to amortize assets 

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faster in order for them to 
generate further gross margin in

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order for them to participate 
in. 

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In the energy markets and the 
demand response markets and in 

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order to them to help all 
shareholders. 

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So I think it they should be and
they are and it's only going to 

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grow in as they move in this 
space and as we Bitcoin becomes 

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more accepted that it's not 
going to go anywhere. 

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Couldn't agree more. 
Yeah, one of my friends, Mike 

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Hobart. 
He's very big on the idea of 

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like, like, say what you want 
about Bitcoin, about what it 

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does to the individual, but I 
think people are really sleeping

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on the idea of energy companies 
getting into Bitcoin. 

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On and basically opening up a 
whole new market. 

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And that's really going to be 
one of the biggest and most 

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profound changes in, not only 
the world, but in in the Bitcoin

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mining space in general, and 
here's a, his kind of, it's not 

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really a Trolli question, but 
it's more of a thought 

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experiment. 
What's your thoughts on energy 

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companies becoming Bitcoin 
miners, or rather Bitcoin? 

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Mining companies becoming the 
new energy companies. 

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I think I would say most people 
like to get excited and say yeah

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Bitcoin mining companies, we're 
going to be the next energy 

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companies. 
The problem with that is that 

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energy companies, they are 
rooted in our society, both on a

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contractual level in a 
regulatory level and their 

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remotes are huge. 
So for Bitcoin mining company, 

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to go from someone who's 
operating data centers in that 

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skill set to being a power 
producer, even a private power 

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producer, let alone a Scylla T 
is is a huge change in business 

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now. 
Is it impossible? 

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No. 
Are we going to see it? 

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Yes, especially as Bitcoin in 
the economics behind Bitcoin, 

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mining become more apparent as 
we see forward-looking and 

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forward-thinking individuals in 
the energy industry. 

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Especially one that moves very 
relatively quickly compared to 

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your large independent 
investor-owned utilities so the 

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electrical coops anyone can 
come. 

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Min, they could be joined the 
board. 

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They could convince the board to
invest in in a substation for a 

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low-interest loan from the 
government. 

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The government USDA provides 
loans to these utilities that 

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are Community owned and for 
about two to three percent 

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interest. 
At least that's what has been 

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historically. 
And so that would allow them to 

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build out massive infrastructure
and attract some of the biggest 

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Bitcoin. 
Mining players in the area to 

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suck up, cheap power because 
power is sold at the same price 

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across all of these markets. 
So, when we have an And P 

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settlement which is when the 
energy prices settle across all 

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of my. 
So which is an energy Market in 

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the midwest. 
The price is all going to be the

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same and then it's going to be 
subtracted or added more, add 

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more dollars to the cost based 
on the congestion. 

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So, based on how many people are
trying to sell energy into that 

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one spot and how many people 
trying to use energy? 

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So I believe there are places on
the grid where there's a ton of 

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congestion, a ton of new demand 
or ton of new load was added but

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not enough demand. 
Enough electric demand there 

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compared to what we need to be. 
So there's a huge opportunity 

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for a power producer to come in 
and play the Bitcoin mining game

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and do it well and do it at 
scale and even if they don't 

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take the risk of Bitcoin mining,
they could still increase the 

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amount of energy they're selling
from you know let's say a 

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million kilowatts or 10 million 
kilowatt hours a year to 100 

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million 20 million very quickly 
with the addition of even just 

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one large substation, let alone 
thinking about how do we make a 

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00:10:42,300 --> 00:10:46,100
gigawatt substation like the 
Rockdale facility with Wyatt, if

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00:10:46,100 --> 00:10:49,100
you're having forward-thinking 
energy, producers, looking at 

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that with like I said, cheap 
government, Capital cheap 

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00:10:52,200 --> 00:10:55,000
government debt. 
It's, I mean, you can't compete 

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as a Bitcoin miner with that so 
it's open. 

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But I don't know how many people
are going to take it and take 

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the risks per se and and have 
the experience and the knowledge

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00:11:04,400 --> 00:11:07,400
and the willingness to want to 
do that. 

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00:11:07,400 --> 00:11:10,100
It's easy. 
And a lot of these electric 

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cooperatives. 
They're they're older older 

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folks who don't necessarily 
understand the value of Bitcoin.

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You might think it's a fad, and,
and they're going to miss out on

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the opportunity because it's, it
could be huge. 

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And it could bring a ton of jobs
to their local community, but 

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it's sad. 
Yeah, 100th day of the playbooks

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00:11:26,700 --> 00:11:29,100
their home saying. 
Yeah. 

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Agreed, agreed. 
And, all right, well, we kind of

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jump straight into the energy is
but for some reason, I'm, I'm 

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hearing the ante Bitcoin mining 
person in my head right now and 

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they're just asking the same 
question. 

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Can you justify using so much 
energy to mine? 

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00:11:47,800 --> 00:11:50,100
Bitcoin? 
What would you be your response 

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00:11:50,100 --> 00:11:52,300
to this? 
Considering we are seeing so 

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many of the corporate press 
tried to, you know, continue to 

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smear Bitcoin mining. 
If there is someone out there 

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00:12:00,300 --> 00:12:03,100
that is thinking the same thing.
Maybe you know, maybe we need to

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go to proof of stake. 
Like why justify the energy use 

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00:12:06,600 --> 00:12:08,500
of Bitcoin mining? 
What do you usually tell someone

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00:12:08,500 --> 00:12:11,200
out there that is a Bitcoin 
mining skeptic? 

229
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So what I'll say is there's a 
great thought Airman about 

230
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bricks and moving bricks from 
one location to another and then

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moving the bricks back to the 
same location. 

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Now, if you look at the 
definition of work, you could 

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say that there was no work, that
was actually done because the 

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bricks didn't move. 
And that's really what we're 

235
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trying to prove here with 
Bitcoin mining is what is work? 

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We can sit on our laptops, we 
can write a paper. 

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We can talk about how we're 
going to have the best marketing

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plan. 
We can discuss, you know, 

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anything. 
It comes to like intellectual 

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work but when it comes to work 
on the physical level, it's very

241
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does this work? 
Or does it not? 

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The bridge built and is the 
bridge safe, does it? 

243
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Do its job or was it not built 
and it doesn't work. 

244
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And so that's kind of what we're
doing here with Bitcoin mining. 

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Were abstracting away this 
ambiguous definition of work and

246
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making it so that anyone in the 
world can prove that they are 

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working by using electrons and 
those electrons prove that this 

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work, this computation, this 
mining process is being done. 

249
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And that. 
I work as a real cost to it and 

250
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that's very important if the 
work doesn't have a cost to it, 

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then the underlying asset can 
lose its value. 

252
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And it doesn't have value to 
actually acquire it which means 

253
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that you're creating it for free
and out of thin air and nothing 

254
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is created for free. 
So Bitcoin has this beautiful 

255
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process which allows minors from
all around the world to deploy 

256
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these systems to use energy at 
resources that are stranded and 

257
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the Why they're going after the 
stranded resources because they 

258
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have to compete with everyone 
else to pay for that same 

259
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electron. 
So the ones that have the 

260
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cheapest energy are the ones 
that are able to compete the 

261
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longest and so that provides a 
Bitcoin miners with the 

262
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incentive to go after low-cost 
stranded energy. 

263
00:14:12,400 --> 00:14:15,000
That no one else wants that's 
already being wasted. 

264
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A majority of energy is wasted 
on the electric wires. 

265
00:14:18,600 --> 00:14:21,100
It's dissipated. 
We can't store energy like we 

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can store oil or gold so a lot 
of this energy is wasted but 

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00:14:24,600 --> 00:14:27,100
we're already easing it. 
So what I would say is that 

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00:14:27,100 --> 00:14:30,900
using energy is a fundamental is
provides the fundamental value 

269
00:14:30,900 --> 00:14:33,200
of y. 
Bitcoin has gone up every four 

270
00:14:33,200 --> 00:14:35,200
years. 
It's fundamental to the having 

271
00:14:35,200 --> 00:14:38,100
cycle and it's fundamental to 
the game theory of why Bitcoin 

272
00:14:38,100 --> 00:14:40,000
is the best most secure currency
in the world. 

273
00:14:40,400 --> 00:14:43,900
Get them love it, JP and love 
it. 

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00:14:43,900 --> 00:14:48,900
Very very simple way to get the 
point across and we can take 

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00:14:48,900 --> 00:14:51,700
this this conversation in a lot 
of different ways right now. 

276
00:14:51,700 --> 00:14:55,200
But you're talking about the 
having cycle and I really want 

277
00:14:55,200 --> 00:14:56,700
to pick your brain. 
Rain considering you've been 

278
00:14:56,700 --> 00:14:59,600
around for a few Cycles. 
What do you think we are right 

279
00:14:59,600 --> 00:15:01,400
now in the current bear Market 
cycle? 

280
00:15:02,000 --> 00:15:04,900
Not to get into price 
speculation but as a seasoned 

281
00:15:04,900 --> 00:15:06,700
vet, what are you feeling right 
now? 

282
00:15:06,700 --> 00:15:09,000
What do you thinking at and what
are you looking forward to? 

283
00:15:10,000 --> 00:15:12,900
I'm honestly feeling right now. 
Flash crash I think there could 

284
00:15:12,900 --> 00:15:16,200
be a flash crash to like you 
know twenty one twenty two 

285
00:15:16,200 --> 00:15:18,900
thousand we're at 25. 
It just dropped a thousand 

286
00:15:18,900 --> 00:15:21,600
dollars today. 
So I'm we've always seen this 

287
00:15:21,600 --> 00:15:24,100
massive flash crash before the 
run-up. 

288
00:15:24,100 --> 00:15:26,500
Now a lot of people including I 
myself thought that could have 

289
00:15:26,500 --> 00:15:29,500
been FTX in 20K and we could 
have been out of the woods where

290
00:15:29,500 --> 00:15:32,400
we got, we're hitting the 
support right now at 25,000 and 

291
00:15:32,400 --> 00:15:35,500
if we don't hold the support you
know we could see definitely 

292
00:15:35,500 --> 00:15:39,100
that flash crash come and and 
that's where I'll be buying even

293
00:15:39,100 --> 00:15:42,800
more coins and going going long 
on the market because then 

294
00:15:42,800 --> 00:15:46,300
you're ready for the ride all 
the way up to, you know, 250 300

295
00:15:46,300 --> 00:15:48,100
wherever it stops, who no one 
really knows. 

296
00:15:48,100 --> 00:15:51,000
But you're up for the ride, you 
know, all the way up Bitcoin. 

297
00:15:51,200 --> 00:15:53,300
I think I've read somewhere 
that, you know, out of a year it

298
00:15:53,300 --> 00:15:57,100
has nine or nine days that it 
moves, It more than 10% or 

299
00:15:57,100 --> 00:15:59,400
something crazy. 
It has these massive days in 

300
00:15:59,400 --> 00:16:01,900
most days, it just sits there. 
It just either sits there flat 

301
00:16:01,900 --> 00:16:04,700
or goes down. 
So I think that we're still you 

302
00:16:04,700 --> 00:16:07,600
know, to or years plus has 
having hasn't happened. 

303
00:16:07,600 --> 00:16:09,100
So we're not going to hit an 
all-time high, I'll tell you 

304
00:16:09,108 --> 00:16:11,400
that. 
But once that having happens, 

305
00:16:11,400 --> 00:16:14,600
you know, anything is game. 
Because the economics of Bitcoin

306
00:16:14,600 --> 00:16:17,800
of changed at the minor level 
the machines that are mining 

307
00:16:17,800 --> 00:16:20,300
that are unprofitable going to 
be turned off, players are going

308
00:16:20,300 --> 00:16:23,900
to have to shut off equipment 
and and the Gang you know, keeps

309
00:16:23,900 --> 00:16:25,400
going keeps playing but network 
key. 

310
00:16:25,500 --> 00:16:29,500
It's tick-tocking away one block
after the next, but that's my 

311
00:16:29,500 --> 00:16:32,600
thoughts on the price right now,
you know, don't over leveraged, 

312
00:16:32,600 --> 00:16:34,900
don't spend money. 
You can't get, but I keep 

313
00:16:34,900 --> 00:16:37,800
stacking sad sigh iPhone mode a 
little bit impersonal here. 

314
00:16:37,800 --> 00:16:40,200
You know, fought two thousand 
dollars with a Bitcoin on cash 

315
00:16:40,200 --> 00:16:42,800
app right before this because I 
was like this price this price 

316
00:16:42,800 --> 00:16:45,400
of a Buy price even if I've been
in some 70 dollars a coin you 

317
00:16:45,400 --> 00:16:47,900
know, still get that paycheck 
and got to put it somewhere 

318
00:16:47,900 --> 00:16:51,500
because US Dollars on holding 
value as you know, absolute Chad

319
00:16:51,500 --> 00:16:54,100
Bitcoin. 
ER but I think this is this is 

320
00:16:54,100 --> 00:16:58,700
the point that I It seems to be 
missed by a lot of newer 

321
00:16:58,700 --> 00:17:03,500
bitcoiners and it is the idea 
that Bitcoin miners are the most

322
00:17:03,500 --> 00:17:07,099
bullish ones on bitcoin because 
you guys have to put so much 

323
00:17:07,099 --> 00:17:10,700
Capital behind your mining 
Farms, your mining setups and 

324
00:17:10,700 --> 00:17:12,200
you guys are in it for the long 
term. 

325
00:17:12,200 --> 00:17:15,099
Whereas if you're just buying 
Bitcoin you know you can very 

326
00:17:15,099 --> 00:17:18,400
easily dump that Bitcoin for 
Fiat games but as a Bitcoin 

327
00:17:18,400 --> 00:17:22,800
miner it's not that easy to just
dump all your infrastructure and

328
00:17:22,800 --> 00:17:25,400
change on a whim on what you're 
going to do. 

329
00:17:25,500 --> 00:17:29,900
And you can feel it's palpable 
how bullish a Bitcoin miner is 

330
00:17:29,900 --> 00:17:32,800
on bitcoin, the asset and the 
network moving forward. 

331
00:17:32,900 --> 00:17:36,200
And I think it's because you 
understand what this does for 

332
00:17:36,200 --> 00:17:38,800
the energy sector. 
What this does for society, what

333
00:17:38,800 --> 00:17:42,800
it means to just hold onto an 
asset that cannot be debased and

334
00:17:42,800 --> 00:17:46,200
you're like, like me, I've bet 
my life on bitcoin. 

335
00:17:46,400 --> 00:17:49,800
I'm sure you felt the same way. 
It's like, I put everything in 

336
00:17:49,800 --> 00:17:52,400
on bitcoin and there's no 
turning back. 

337
00:17:52,400 --> 00:17:55,400
And I think a lot of people miss
that very simple. 

338
00:17:56,700 --> 00:17:59,600
There is no turning back and 
we're deploying of structure for

339
00:17:59,600 --> 00:18:02,000
5-10 years. 
We're not deploying it for a 

340
00:18:02,000 --> 00:18:03,900
week without deploying for six 
months. 

341
00:18:04,200 --> 00:18:07,000
That's our investment Horizon, 
that's what we're looking for. 

342
00:18:07,000 --> 00:18:09,300
When it comes to these 
contracts, in this land of 

343
00:18:09,300 --> 00:18:13,500
humans were signing because we 
know that Bitcoin mining is not 

344
00:18:13,500 --> 00:18:15,600
going to go away. 
It's not run by a CEO. 

345
00:18:15,700 --> 00:18:18,500
It's not run by a board. 
The protocols not going to 

346
00:18:18,500 --> 00:18:22,300
change even how no matter what 
the media says and even know if 

347
00:18:22,300 --> 00:18:25,000
they're like it's the worst 
thing in the world the Bitcoin 

348
00:18:25,000 --> 00:18:26,900
community. 
E and the code will not change 

349
00:18:26,900 --> 00:18:28,900
and that's why you're able to 
invest. 

350
00:18:28,900 --> 00:18:32,500
The capital are able to invest 
to know that this Market in this

351
00:18:32,500 --> 00:18:34,600
opportunity is not going to go 
away. 

352
00:18:34,900 --> 00:18:37,800
Let alone the value of just 
building Rackspace to run the 

353
00:18:37,800 --> 00:18:40,400
amount of computing power. 
We're going to need for AI. 

354
00:18:40,700 --> 00:18:45,000
And for these other uses of 
compute where Bitcoins can 

355
00:18:45,000 --> 00:18:48,600
easily be repurposed for for 
that type of operation. 

356
00:18:49,600 --> 00:18:52,000
Absolutely love it. 
All right, I want to go to this 

357
00:18:52,000 --> 00:18:55,800
pin tweet that you have on your 
Twitter because it is a Few 

358
00:18:55,800 --> 00:18:58,600
years old now, so I'm sure 
you're going to have to update 

359
00:18:58,600 --> 00:19:00,500
it. 
But I'm going to connect this 

360
00:19:00,800 --> 00:19:03,500
with the current hash rate. 
So you have this tweet here, 

361
00:19:03,500 --> 00:19:06,300
it's pinned on your Twitter at 
JP Barak on Twitter. 

362
00:19:06,300 --> 00:19:09,600
You go today, the Bitcoin 
computer is 100,000 times more 

363
00:19:09,600 --> 00:19:12,700
powerful than the top 500 
supercomputers in the world 

364
00:19:12,700 --> 00:19:15,800
combined. 
And I really want to segue this 

365
00:19:15,800 --> 00:19:19,600
into what we're seeing happen in
the hash rate right now. 

366
00:19:19,800 --> 00:19:24,700
It seemingly continuously going 
to all-time high and I'm just 

367
00:19:24,700 --> 00:19:26,600
wondering what What are you 
thinking? 

368
00:19:26,600 --> 00:19:30,300
As a Bitcoin, miner watching the
hash rate, just climb and climb 

369
00:19:30,400 --> 00:19:33,000
and climb? 
Even though the price is 

370
00:19:33,000 --> 00:19:35,700
dropping, what? 
It's like a Bitcoin miners are 

371
00:19:35,700 --> 00:19:40,400
crazy, we know why, but for the 
people that are uninitiated, 

372
00:19:40,400 --> 00:19:43,500
what is going on here? 
You know, let's go, baby, go. 

373
00:19:43,500 --> 00:19:47,000
We're the chip factories in 
Taiwan. 

374
00:19:47,000 --> 00:19:51,400
They continue to produce chips 
night in Night Out, Asic miners,

375
00:19:51,400 --> 00:19:54,700
continue to get shipped across 
the world pricing of miners are 

376
00:19:54,700 --> 00:19:58,700
going to To drop until we see 
that price turn around and in 

377
00:19:58,700 --> 00:20:01,300
Turnbull. 
So it's the name of the game. 

378
00:20:01,400 --> 00:20:04,700
People are stacking SATs. 
There's still a significant 

379
00:20:04,700 --> 00:20:07,800
margins to be made. 
If your well-financed if you 

380
00:20:07,800 --> 00:20:11,800
have access to energy in the 40 
40 dollar per megawatt hour 

381
00:20:11,800 --> 00:20:16,300
range, you can still provide a 
great return even with a flat 

382
00:20:16,300 --> 00:20:19,200
bitcoin price or three, or four 
percent cut every month. 

383
00:20:19,300 --> 00:20:22,100
So the operators, who are here 
for the Long Haul. 

384
00:20:22,200 --> 00:20:25,300
Like I said, who aren't checking
the difficulty every day or 

385
00:20:25,600 --> 00:20:28,500
Checking the price every day. 
They're deploying infrastructure

386
00:20:28,500 --> 00:20:31,200
for the future. 
They have a multi year Horizon 

387
00:20:31,600 --> 00:20:35,800
and they're investing in extra 
hashes today especially the pub 

388
00:20:35,800 --> 00:20:39,100
goes, especially large private 
operators, large, family 

389
00:20:39,100 --> 00:20:42,200
offices. 
The people who were, you know, 

390
00:20:42,200 --> 00:20:45,500
not going to invest in the, The 
Bull Run or the people who are 

391
00:20:45,500 --> 00:20:48,300
putting Capital to work today. 
And it's sad because retail is 

392
00:20:48,300 --> 00:20:51,400
usually left out because they're
like, let me buy in at the top 

393
00:20:51,600 --> 00:20:53,500
and not buying at the bottom 
because it's an emotional 

394
00:20:53,500 --> 00:20:55,900
decision. 
When the reality is Usually 

395
00:20:55,900 --> 00:21:00,100
buying today because the price 
is low versus when the price is 

396
00:21:00,100 --> 00:21:01,600
high. 
And I think that's what we're 

397
00:21:01,600 --> 00:21:03,200
seeing here. 
We're seeing incremental value 

398
00:21:03,200 --> 00:21:06,400
being deployed to the network 
you know every day, every day of

399
00:21:06,400 --> 00:21:09,400
the year. 
Yeah, it's human psychology is a

400
00:21:09,400 --> 00:21:12,800
very weird thing. 
You know, when it drops, I will 

401
00:21:12,800 --> 00:21:15,700
wait for it to go lower when it 
pumps the like, okay, I need to 

402
00:21:15,700 --> 00:21:18,300
buy some. 
But anyways, you mentioned 

403
00:21:18,300 --> 00:21:23,200
retail and getting some exposure
to bitcoin and in the past at 

404
00:21:23,200 --> 00:21:28,600
least, from 2018 I forget what 
it was like around 2020 hosting 

405
00:21:28,600 --> 00:21:32,700
mining gets a real bad rap 
because of some real you know 

406
00:21:33,700 --> 00:21:37,000
not up to par companies. 
We're not going to name names 

407
00:21:37,100 --> 00:21:42,000
but as someone that does. 
Host mining what would you tell 

408
00:21:42,000 --> 00:21:43,700
someone thinking about hosting 
mining? 

409
00:21:43,700 --> 00:21:46,800
Like, what should they be 
looking out for and what is the 

410
00:21:46,800 --> 00:21:50,900
best way to go about this? 
So when it comes to hosting 

411
00:21:51,100 --> 00:21:55,300
mining you want to look for an 
operator who has been in the 

412
00:21:55,500 --> 00:22:00,100
Yield for multiple years, you 
want to look for an operator who

413
00:22:00,300 --> 00:22:03,500
has a contract, a hosting 
contract that's going to protect

414
00:22:03,500 --> 00:22:07,300
you during a downward Market. 
You also want to ensure that 

415
00:22:07,300 --> 00:22:11,000
you're not committing to a long 
term that you're not able to pay

416
00:22:11,000 --> 00:22:13,100
the power bills. 
For, let's say you're going to 

417
00:22:13,100 --> 00:22:15,600
commit to a year, you're in 
those contracts are committing 

418
00:22:15,600 --> 00:22:19,000
to paying that power bill every 
month of the year, even if the 

419
00:22:19,008 --> 00:22:22,200
host is not able to run all your
machines and being up and 

420
00:22:22,200 --> 00:22:23,400
running. 
So, what I would say for most 

421
00:22:23,400 --> 00:22:26,200
people in their hosting bills is
you want to ensure that you're 

422
00:22:26,200 --> 00:22:29,900
hosting bill is based on the 
electricity consumed and not a 

423
00:22:29,900 --> 00:22:32,900
flat monthly rate because that's
how you can get it run into 

424
00:22:32,900 --> 00:22:36,500
issues and where your profit and
loss can be out of whack. 

425
00:22:36,700 --> 00:22:41,600
Now, when it comes to running a 
consumer-facing hosting 

426
00:22:41,600 --> 00:22:45,000
business, it's something that we
decided not to do. 

427
00:22:45,000 --> 00:22:47,900
And why we won't take five or 
ten hosting machines. 

428
00:22:48,200 --> 00:22:50,600
Is because the amount of work, 
it takes to handle every 

429
00:22:50,600 --> 00:22:54,000
customer every client. 
So we focus on larger hosting 

430
00:22:54,000 --> 00:22:57,500
transactions for that. 
Exact reason or something called

431
00:22:57,500 --> 00:23:00,300
manage mining program, which is 
for the guys with 10 machines 

432
00:23:00,300 --> 00:23:03,300
with 15 machines, still making a
significant investment of 100 

433
00:23:03,300 --> 00:23:06,300
thousand dollars in plus. 
But the difference, there is 

434
00:23:06,300 --> 00:23:09,400
that we are custody in the 
Bitcoin for you. 

435
00:23:10,000 --> 00:23:13,000
And then at the end of every 
month, we say, the price of 

436
00:23:13,000 --> 00:23:14,900
Bitcoin is this. 
We're going to we're going to 

437
00:23:14,900 --> 00:23:16,600
send you. 
We're going to debit the power 

438
00:23:16,600 --> 00:23:19,700
bill debit our fees, and we're 
going to send you the Bitcoin 

439
00:23:19,700 --> 00:23:22,500
and then it's yours to hold. 
So there is no power bills. 

440
00:23:22,500 --> 00:23:24,300
The customer support is a lot 
less. 

441
00:23:24,500 --> 00:23:29,000
There's no The contract is 
allows us to make sure that we 

442
00:23:29,000 --> 00:23:31,300
can work with you throughout the
relationship and you're not 

443
00:23:31,300 --> 00:23:34,300
going to default on your your 
machines, because there is no 

444
00:23:34,300 --> 00:23:37,500
way to default because it's the 
top line revenue that's get 

445
00:23:37,500 --> 00:23:39,500
subtracted. 
So, those are all things that 

446
00:23:39,500 --> 00:23:43,100
we've focused on over the years,
to make the hosting experience, 

447
00:23:43,200 --> 00:23:45,700
a better experience for the 
little God. 

448
00:23:45,700 --> 00:23:48,800
And then recently, we've 
launched something called a reg 

449
00:23:48,800 --> 00:23:53,500
CF which stands for regulated 
crowdfunding, and we worked with

450
00:23:53,500 --> 00:23:55,300
the first one with Josh Terry B 
fault. 

451
00:23:55,500 --> 00:23:58,200
Josh tray bit fault, raised over
six hundred thousand dollars, 

452
00:23:58,200 --> 00:24:01,600
Josh, cherries and influencer in
the idea of bit vault is to 

453
00:24:01,600 --> 00:24:06,800
allow anyone to invest at $100 
into a Bitcoin mining company. 

454
00:24:07,000 --> 00:24:10,200
That's going to by minors, can 
have a flat management fee and 

455
00:24:10,200 --> 00:24:12,700
it's going to have an exit 
strategy already built into it. 

456
00:24:12,700 --> 00:24:15,400
So you know how you're going to 
get your funds out and it's 

457
00:24:15,400 --> 00:24:18,800
funny, I don't know if you knew 
this, but core scientific last 

458
00:24:18,800 --> 00:24:23,300
year had the most amount of 
money spent on private jets out 

459
00:24:23,300 --> 00:24:26,300
of any public company and Oh, 
it's like you're investing in 

460
00:24:26,308 --> 00:24:27,900
these Pub codes. 
If you're, you know, if you're 

461
00:24:28,000 --> 00:24:29,700
if you're playing with a hundred
two hundred dollars trying to 

462
00:24:29,700 --> 00:24:32,500
buy stock and then their 
executives are just blowing 

463
00:24:32,900 --> 00:24:35,900
money, you know, right and left,
especially in a bull market and 

464
00:24:35,900 --> 00:24:39,000
you have no control over such as
a shareholder over that. 

465
00:24:39,000 --> 00:24:41,600
It's what we did with the reg CF
in the default was we wanted to 

466
00:24:41,600 --> 00:24:47,300
give transparent pricing to the 
investors to the reg CF holders 

467
00:24:47,300 --> 00:24:50,300
and that allows for anyone to 
invest its $100. 

468
00:24:50,600 --> 00:24:53,200
Even unaccredited investors, can
invest up to two thousand 

469
00:24:53,200 --> 00:24:55,300
dollars and depending on your 
how much you're making. 

470
00:24:55,400 --> 00:24:58,300
You can invest more and that's 
going to be available on Wii 

471
00:24:58,300 --> 00:24:59,800
funder. 
I'm going to be launching my own

472
00:24:59,800 --> 00:25:03,300
bit Vault or I'll be managing it
for up to 10 years. 

473
00:25:03,500 --> 00:25:06,700
I can't talk about the offering 
off the platform but I can 

474
00:25:06,700 --> 00:25:08,700
mention that if you want to 
learn more about it it'll be on 

475
00:25:08,700 --> 00:25:11,600
We fund or.com. 
JP Barak bit Vault or the 

476
00:25:11,608 --> 00:25:15,000
people's mining company and it 
should be live in about I would 

477
00:25:15,000 --> 00:25:18,200
say at the end of the month of 
June so definitely check it out 

478
00:25:18,200 --> 00:25:20,900
if you want exposure and want to
have me as your manager of the 

479
00:25:20,900 --> 00:25:24,000
portfolio of Bitcoin, miners 
Bitcoin in cash. 

480
00:25:24,200 --> 00:25:25,200
And we're gonna be doing some 
really cool. 

481
00:25:25,400 --> 00:25:28,000
Things with a dividend. 
So since that's those are the 

482
00:25:28,000 --> 00:25:30,800
three programs we have it in 
mining store, and how we handle 

483
00:25:30,800 --> 00:25:33,900
the hosting situation and 
customers. 

484
00:25:33,900 --> 00:25:36,800
And the important things to look
into a host or comes down to the

485
00:25:36,800 --> 00:25:39,300
contract, comes down to the 
experience, comes down to that 

486
00:25:39,300 --> 00:25:41,900
power rate. 
And and those are the three most

487
00:25:41,900 --> 00:25:46,100
important things, interesting. 
So just to be clear, this is not

488
00:25:46,100 --> 00:25:50,400
one of those early 2017. 
Cloud mining things is it. 

489
00:25:50,600 --> 00:25:52,300
Exactly. 
And that's what I love about it.

490
00:25:52,300 --> 00:25:56,500
It's not because a cloud minor 
thing is you're owning A, you 

491
00:25:56,500 --> 00:25:58,900
know, the option to get Tara 
hashes delivered to you in 

492
00:25:58,900 --> 00:26:01,700
Bitcoin and and that's a 
security and that's why they 

493
00:26:01,700 --> 00:26:04,300
got, you know, red-handed and 
got in trouble for it. 

494
00:26:04,400 --> 00:26:07,200
So what we did is we said okay 
what is the existing security 

495
00:26:07,200 --> 00:26:09,800
law in the United States? 
That would allow us to solicit 

496
00:26:09,800 --> 00:26:13,600
Securities online and that's 
called the reg c f and we built 

497
00:26:13,700 --> 00:26:17,400
a company specifically for that 
operation. 

498
00:26:17,500 --> 00:26:19,700
And then we work with 
influencers to have them, bring 

499
00:26:19,700 --> 00:26:23,500
on help their fans out and start
to stack SATs where they own a 

500
00:26:23,500 --> 00:26:25,200
share. 
So where there are owning equity

501
00:26:25,300 --> 00:26:28,600
A in a Bitcoin mining company 
that buys Bitcoin miners holds 

502
00:26:28,600 --> 00:26:31,400
Bitcoin and distributes 
dividends to investors. 

503
00:26:31,600 --> 00:26:35,000
So they are still part of a 
common Enterprise and they're 

504
00:26:35,000 --> 00:26:37,700
still a shareholder with a vote 
and with the voice. 

505
00:26:37,900 --> 00:26:40,700
But the difference between a 
cloud hashing contract in this 

506
00:26:40,700 --> 00:26:43,000
one, is that with, as a 
shareholder, they own the 

507
00:26:43,008 --> 00:26:45,500
underlying assets. 
They get the depreciation on the

508
00:26:45,500 --> 00:26:49,000
miners, they get the cash flow, 
they can sell their share after 

509
00:26:49,000 --> 00:26:51,800
one year. 
So those are things that we that

510
00:26:51,800 --> 00:26:54,900
the rates, they have process 
allows versus if you own a cloud

511
00:26:54,900 --> 00:26:57,700
house and car Back once the 
heart contracts done, you'll 

512
00:26:57,700 --> 00:27:00,200
have anything else other than 
the Bitcoin that got mind and 

513
00:27:00,200 --> 00:27:02,700
sometimes and I would say 
usually that's actually less 

514
00:27:02,700 --> 00:27:04,100
than the dollars that you put 
in. 

515
00:27:04,300 --> 00:27:07,100
And the reason why you make 
money and Cloud hashing was all 

516
00:27:07,100 --> 00:27:10,500
because the price of Bitcoin 
went up and you would have been 

517
00:27:10,500 --> 00:27:12,700
better off just buying Bitcoin 
with that money. 

518
00:27:13,700 --> 00:27:17,500
Interesting, interesting. 
Okay, I want to Pivot a little 

519
00:27:17,500 --> 00:27:22,100
bit here because you did bring 
up the whole political landscape

520
00:27:22,100 --> 00:27:25,100
in regards to bitcoin and 
Bitcoin mining in general, you 

521
00:27:25,300 --> 00:27:27,200
caught up the body and 
administration you bought up the

522
00:27:27,208 --> 00:27:30,500
Securities laws. 
I do have over here on your 

523
00:27:30,500 --> 00:27:34,400
Twitter right here about the 
right to mine law right here. 

524
00:27:35,100 --> 00:27:40,000
This one is a Montana. 
What is your view on the 

525
00:27:40,000 --> 00:27:43,700
political landscape right now in
regards to bitcoin and Bitcoin 

526
00:27:43,700 --> 00:27:46,100
mining in the US as someone 
that's been around for a long 

527
00:27:46,100 --> 00:27:48,300
time? 
Like what are you thinking is 

528
00:27:48,300 --> 00:27:52,100
going on and maybe, what do you 
think might happen in regards to

529
00:27:52,100 --> 00:27:55,100
Bitcoin mining? 
So we are definitely getting 

530
00:27:55,100 --> 00:27:59,500
more political pressure. 
More political eyes than we have

531
00:27:59,500 --> 00:28:01,200
ever before in the Bitcoin 
mining industry. 

532
00:28:01,500 --> 00:28:04,400
And that's because we've grown 
and the the large industry 

533
00:28:04,400 --> 00:28:06,600
players have definitely stepped 
up to the plate, allocating 

534
00:28:06,600 --> 00:28:12,000
Capital to the right parties. 
In order to Lobby the 

535
00:28:12,000 --> 00:28:16,200
politicians into passing bills 
that we need to pass to protect 

536
00:28:16,200 --> 00:28:18,500
Bitcoin, miners the right to 
mine bow. 

537
00:28:18,500 --> 00:28:21,300
Build that Dennis and Satoshi 
action fund or passing are 

538
00:28:21,300 --> 00:28:23,400
amazing. 
I think what he's doing. 

539
00:28:23,600 --> 00:28:27,700
State-by-state level is really 
showing a lot of opportunities, 

540
00:28:28,000 --> 00:28:30,700
and showing the need for 
protection to have a clearly 

541
00:28:30,700 --> 00:28:33,300
defined in the law. 
It's much easier to fight the 

542
00:28:33,300 --> 00:28:35,600
battle. 
When you have your foot, in the 

543
00:28:35,600 --> 00:28:39,600
door, and have law, drafted and 
legislation passed versus having

544
00:28:39,600 --> 00:28:43,300
to fight that without any 
legislation, or with 

545
00:28:43,300 --> 00:28:45,500
legislation, that's negatively, 
impacting your industry. 

546
00:28:45,800 --> 00:28:47,800
So I really appreciate Dennis 
and Satoshi action, fun? 

547
00:28:47,800 --> 00:28:49,900
If you're not, if you're not 
aware of what they're doing, 

548
00:28:49,900 --> 00:28:52,400
definitely check them out. 
They're great cause to the 

549
00:28:52,408 --> 00:28:54,000
industry. 
Now what? 

550
00:28:54,000 --> 00:28:58,800
I think, Bitcoin mining, and how
it can be regulated, I believe 

551
00:28:58,800 --> 00:29:02,200
that Bitcoin mining is an 
extension of speech code has 

552
00:29:02,200 --> 00:29:06,100
been protecting the United 
States for many years and code 

553
00:29:06,100 --> 00:29:08,100
is what is running on these 
computers. 

554
00:29:08,400 --> 00:29:13,200
And so I would argue that any 
entity or organization or 

555
00:29:13,200 --> 00:29:17,700
governmental body that tries to 
Define what you can and can't do

556
00:29:17,800 --> 00:29:21,000
with electricity, what code you 
can and can't run. 

557
00:29:21,400 --> 00:29:25,400
Is it is explicitly. 
You know, making controlling 

558
00:29:25,400 --> 00:29:29,500
your speech which is protected 
by the Constitution, so I 

559
00:29:29,500 --> 00:29:33,100
believe that that's an important
aspect of Bitcoin mining. 

560
00:29:33,500 --> 00:29:36,200
And I believe that it's going to
be very hard to regulate it 

561
00:29:36,300 --> 00:29:39,600
because of that kind of 
framework that we've built in 

562
00:29:39,600 --> 00:29:42,400
the u.s. here protecting 
computer servers. 

563
00:29:42,600 --> 00:29:46,900
Now, utility they also have to 
have non-discrimination Clauses.

564
00:29:46,900 --> 00:29:49,300
They can't discriminate against 
a customer because they're using

565
00:29:49,300 --> 00:29:52,000
their energy for Bitcoin mining,
or they're using their energy to

566
00:29:52,000 --> 00:29:54,300
grow pot. 
They can obviously, SLI arrest, 

567
00:29:54,300 --> 00:29:57,700
the person growing pot if it's 
an illegal state but they can't 

568
00:29:57,700 --> 00:30:01,600
arrest the person for running 
computer software mining Bitcoin

569
00:30:01,700 --> 00:30:04,500
because the act of running that 
software is not illegal and 

570
00:30:04,500 --> 00:30:08,700
there's no illegal things being 
produced effectively. 

571
00:30:08,700 --> 00:30:11,800
So that's how I'm viewing the 
climate when it comes to 

572
00:30:11,800 --> 00:30:15,900
regulatory environment and I 
believe that it's going to be 

573
00:30:15,900 --> 00:30:17,800
wins more. 
The more wins we can put on the 

574
00:30:17,800 --> 00:30:18,900
board with the right to mine 
deals. 

575
00:30:18,900 --> 00:30:22,300
Across all the states running 
nodes running miners. 

576
00:30:22,700 --> 00:30:24,900
The better. 
It is for For the community and 

577
00:30:24,900 --> 00:30:28,000
the energy industry as a whole 
lot of it. 

578
00:30:28,000 --> 00:30:30,300
Super bullish. 
I really like how you said that 

579
00:30:30,400 --> 00:30:33,600
because I agree 100%, I think 
it's absolutely ridiculous. 

580
00:30:33,600 --> 00:30:37,200
That they're picking winners and
choosers telling us how we can 

581
00:30:37,200 --> 00:30:39,600
use our electricity or not when 
we bought it on the market for 

582
00:30:39,600 --> 00:30:42,600
fruit, you know, fair value. 
It's like wait, what is going on

583
00:30:42,600 --> 00:30:46,200
here? 
It really seemed like the powers

584
00:30:46,200 --> 00:30:49,000
that be are hell-bent on 
stopping Bitcoin, mining or 

585
00:30:49,000 --> 00:30:52,800
rather, Bitcoin adoption, in 
general, and it's like, guys, we

586
00:30:52,800 --> 00:30:55,200
bought this Energy. 
It shouldn't matter where this 

587
00:30:55,200 --> 00:30:58,500
energy is going, but you're 
making a big screen by another 

588
00:30:58,500 --> 00:31:00,600
subsidizing it right. 
You're spending so much money to

589
00:31:00,600 --> 00:31:03,100
subsidize has energy. 
Taxpayers are subsidizing it. 

590
00:31:03,100 --> 00:31:05,300
Why don't we use it? 
Oh wait, we don't need you to 

591
00:31:05,300 --> 00:31:07,800
use it. 
So it's a, it's crazy. 

592
00:31:09,200 --> 00:31:13,900
Absolute Madness, kind of on the
same on the same wave. 

593
00:31:14,300 --> 00:31:17,500
I did see on your Twitter that 
you've had some thoughts about 

594
00:31:17,500 --> 00:31:20,000
Gary Gensler. 
And what's your, what's your 

595
00:31:20,000 --> 00:31:21,900
thoughts going on with GG over 
there? 

596
00:31:23,700 --> 00:31:26,700
My thoughts with Gary Gensler 
is, you know, provide regulatory

597
00:31:26,700 --> 00:31:29,600
Clarity and certainty when it 
comes to border security is when

598
00:31:29,600 --> 00:31:31,300
it comes to offering US 
security. 

599
00:31:31,700 --> 00:31:33,500
That's why we had to go the 
route, we win. 

600
00:31:33,500 --> 00:31:37,100
I've always wanted to provide a 
mining contract or part on the 

601
00:31:37,108 --> 00:31:41,200
left, people who in parts of a 
minor or let people own and then

602
00:31:41,200 --> 00:31:42,900
a tea that's going to represent 
a minor. 

603
00:31:43,000 --> 00:31:45,000
But all of that becomes a 
security. 

604
00:31:45,200 --> 00:31:48,200
And so that's why we went the 
route of the reg CF is because 

605
00:31:48,200 --> 00:31:51,000
we said, hey, there's a 
compliant framework, we can work

606
00:31:51,000 --> 00:31:55,600
in and yes, it's slow. 
Yes, Has more fees but we can 

607
00:31:55,600 --> 00:31:58,700
successfully solicit Securities.
Allow people to get money 

608
00:31:58,700 --> 00:32:02,900
exposure and open the market up 
to everyone versus, you know, 

609
00:32:02,900 --> 00:32:05,500
having to own a full machine, 
which is what a lot of these 

610
00:32:05,600 --> 00:32:08,100
mining contracts are doing. 
Now when it comes to the debate 

611
00:32:08,100 --> 00:32:11,300
of is everything but Bitcoin and
security. 

612
00:32:11,800 --> 00:32:15,200
I think we're seeing how that 
debates going and I think that 

613
00:32:15,200 --> 00:32:19,100
it's not helpful for the crypto 
community in the United States 

614
00:32:19,500 --> 00:32:23,700
that we are regulating these 
exchanges and were really Sleep.

615
00:32:23,700 --> 00:32:27,100
Paving the way for the big Banks
to come in and custody the Next 

616
00:32:27,100 --> 00:32:30,900
Generation or the next waves 
version of crypto by stomping 

617
00:32:30,900 --> 00:32:32,600
out coinbase. 
And some of these big guys, I 

618
00:32:32,608 --> 00:32:35,500
mean coinbase was I believe the 
third or fourth largest bank by 

619
00:32:35,500 --> 00:32:38,300
market cap in the u.s. when 
their stock was growing. 

620
00:32:38,500 --> 00:32:42,100
And it shows that the incumbents
they're scared, they are scared 

621
00:32:42,100 --> 00:32:43,300
that. 
These companies are going to eat

622
00:32:43,300 --> 00:32:45,500
their lunch, the people are 
going to hold their value and 

623
00:32:45,500 --> 00:32:47,600
their money and crypto that 
they're going to take it out of 

624
00:32:47,608 --> 00:32:50,000
the bank and that they're not 
interested in traditional 

625
00:32:50,000 --> 00:32:52,400
assets. 
And when enough people say they 

626
00:32:52,400 --> 00:32:53,800
want to opt out of the system, 
awesome. 

627
00:32:54,000 --> 00:32:57,700
It causes systemic issues which 
can cause massive runs on the 

628
00:32:57,700 --> 00:33:01,200
banks or massive runs. 
And as we saw with long-dated, 

629
00:33:01,200 --> 00:33:04,200
treasuries, and mismatch of 
liabilities and assets for these

630
00:33:04,200 --> 00:33:06,400
Banks. 
And that's a scary thing. 

631
00:33:06,400 --> 00:33:10,900
Because if we lose Faith as a 
country in the overall Market in

632
00:33:10,900 --> 00:33:14,600
the overall banking system, then
there is a lot of things we take

633
00:33:14,600 --> 00:33:17,400
for granted could, you know, 
could go to chaos and could blow

634
00:33:17,400 --> 00:33:19,500
up and effectively? 
And so you don't like to go down

635
00:33:19,500 --> 00:33:21,200
that path. 
But the reality is is I think 

636
00:33:21,200 --> 00:33:23,300
that we're going to keep 
deflating the dollar. 

637
00:33:23,600 --> 00:33:25,600
And the only way to protect 
yourself from that, which is 

638
00:33:25,600 --> 00:33:29,300
what really matters is to buy 
scarce digital assets. 

639
00:33:29,600 --> 00:33:33,300
And in my opinion, Bitcoin is 
the one and only scares digital 

640
00:33:33,300 --> 00:33:35,700
asset because it requires the 
mining process. 

641
00:33:36,100 --> 00:33:39,000
And yes there are other coins 
like poww coins like Litecoin 

642
00:33:39,700 --> 00:33:42,800
that are out there. 
But Bitcoin is the one that is 

643
00:33:42,800 --> 00:33:45,900
not going to go away no matter 
what because it is so large and 

644
00:33:45,900 --> 00:33:48,700
so much backing love it. 
Okay? 

645
00:33:48,700 --> 00:33:54,400
Again I'm hearing the the shit 
koiner the Army out there 

646
00:33:54,700 --> 00:33:58,300
thinking man, what about proof 
of stake is proof of steak 

647
00:33:58,300 --> 00:34:01,000
better than proof of work. 
What would be your response to 

648
00:34:01,000 --> 00:34:05,400
that proof of steak better than 
proof-of-work? 

649
00:34:05,700 --> 00:34:09,600
Proof of stake? 
Puts the power of consensus in 

650
00:34:09,600 --> 00:34:13,900
the hands of a few, in the sense
where you have people coming 

651
00:34:13,900 --> 00:34:16,600
together on a site and they're 
just like mining pools, right? 

652
00:34:16,600 --> 00:34:19,000
But there and they stake their 
etherium and they're and they're

653
00:34:19,000 --> 00:34:21,600
getting rewards and they're 
providing consensus to the 

654
00:34:21,600 --> 00:34:27,600
network and that's all Run on 
the existing infrastructure. 

655
00:34:28,199 --> 00:34:30,400
It's not like people are running
their own servers and everyone's

656
00:34:30,400 --> 00:34:34,500
running their own computers to 
provide staking Services. 

657
00:34:34,500 --> 00:34:36,699
Now they're going to AWS, 
they're going to Microsoft, 

658
00:34:36,699 --> 00:34:40,100
they're going to IBM and so 
you're literally consolidating 

659
00:34:40,300 --> 00:34:44,100
the the processing power per se 
or the Opera the the server 

660
00:34:44,100 --> 00:34:47,100
level only in the hands of a few
big players. 

661
00:34:47,800 --> 00:34:50,900
And so that's where I push back 
on POS. 

662
00:34:51,400 --> 00:34:53,600
And when it comes to 
proof-of-work, yes, there are. 

663
00:34:53,699 --> 00:34:54,500
R mining pools. 
Yes. 

664
00:34:54,500 --> 00:34:57,200
A few of them have a lot of hash
rate but it's a much different 

665
00:34:57,200 --> 00:35:00,700
because the infrastructure is 
what matters, a minor a binding.

666
00:35:00,700 --> 00:35:04,200
Pull doesn't matter if it has no
minors and minors can always 

667
00:35:04,200 --> 00:35:05,600
switch mining pools very 
quickly. 

668
00:35:05,600 --> 00:35:08,700
It's a quick like it takes you 
can move over you know 100 

669
00:35:08,700 --> 00:35:13,000
million dollars for the miners 
invested or 1% or 2% the network

670
00:35:13,000 --> 00:35:15,100
by just the click of a button. 
And so with that type of 

671
00:35:15,100 --> 00:35:19,000
Mobility proof of work I think 
is superior. 

672
00:35:19,200 --> 00:35:22,100
Not only because it creates 
inherent value for communities. 

673
00:35:22,300 --> 00:35:27,100
It creates jobs Jobs in the area
and it's making an impact on 

674
00:35:27,100 --> 00:35:30,800
these rural areas that, you 
know, the Rust Belt that lost 

675
00:35:30,800 --> 00:35:35,000
manufacturing jobs overseas, and
that, that have the need for 

676
00:35:35,000 --> 00:35:38,100
employment for especially for 
young men across across the 

677
00:35:38,100 --> 00:35:40,500
country. 
Yeah, couldn't agree more. 

678
00:35:40,500 --> 00:35:43,300
I mean, as someone that's been 
in Bitcoin, not as long as you 

679
00:35:43,300 --> 00:35:47,100
I've been around for six years I
think is this year. 

680
00:35:47,500 --> 00:35:52,100
We know the that Bitcoin is 
incentivizing energy, used clean

681
00:35:52,100 --> 00:35:56,200
energy, whether That is wasted 
energy or like what we saw this 

682
00:35:56,200 --> 00:35:59,000
year even nuclear energy. 
So what's your thoughts on 

683
00:35:59,000 --> 00:36:01,700
plugging in a six into nuclear 
power? 

684
00:36:03,500 --> 00:36:05,600
I love it. 
I mean it's a very low-cost 

685
00:36:06,100 --> 00:36:10,300
stress generation Source. 
I think that there's a future in

686
00:36:10,300 --> 00:36:12,600
it and it provides the ability 
for the nuclear plant to provide

687
00:36:12,600 --> 00:36:17,300
a consistent output of energy 
and then mine Bitcoin on the 

688
00:36:17,300 --> 00:36:20,500
side when the energy is not 
being used, but nuclear has a 

689
00:36:20,500 --> 00:36:22,500
lot more granularity in 
something like natural gas or 

690
00:36:22,500 --> 00:36:25,300
coal. 
So, in that gas and coal, they 

691
00:36:25,400 --> 00:36:28,700
are, would say or more 
advantageous to the variability 

692
00:36:28,900 --> 00:36:31,300
that they have, when it comes to
a generation Source, the nuclear

693
00:36:31,500 --> 00:36:33,500
nuclear if you want 1,000 
megawatts, You go, right? 

694
00:36:33,500 --> 00:36:37,000
If you want 900 megawatts, you 
go left on the dial and that's 

695
00:36:37,000 --> 00:36:38,700
just the beautiful nature of 
nuclear. 

696
00:36:38,700 --> 00:36:41,100
One thing to add about nuclear 
energy, that I think is very 

697
00:36:41,100 --> 00:36:44,900
interesting and people to look 
into more is the reason why 

698
00:36:44,900 --> 00:36:48,100
nuclear energy is not more proud
of prevalent in the United 

699
00:36:48,100 --> 00:36:51,300
States is because of one 
definition on how we regulate 

700
00:36:51,300 --> 00:36:54,400
nuclear energy. 
So every governmental agency 

701
00:36:54,400 --> 00:36:58,900
regulates nuclear energy by 
changing the definition of 

702
00:36:58,900 --> 00:37:01,200
allowable. 
So, when we build a nuclear 

703
00:37:01,200 --> 00:37:06,300
power plant, we have to build to
the minimum allowable amount of 

704
00:37:06,300 --> 00:37:09,200
radiation. 
And what we can do, or what The 

705
00:37:09,200 --> 00:37:13,300
Regulators do in my belief is 
that we change the definition of

706
00:37:13,300 --> 00:37:18,700
allowable to be so hard and so 
hard to comply with during the 

707
00:37:18,708 --> 00:37:21,900
production and building of these
plants that it becomes almost 

708
00:37:21,900 --> 00:37:26,200
impossible and for them to be 
built cost-effectively versus 

709
00:37:26,200 --> 00:37:28,900
someone like the Navy who has a 
different definition of 

710
00:37:28,900 --> 00:37:32,900
allowable allows them to build 
very effective nuclear. 

711
00:37:33,100 --> 00:37:36,200
Submarines nuclear aircraft 
carriers and allows them to 

712
00:37:36,200 --> 00:37:38,700
deploy their Fleet on this 
amazing energy source. 

713
00:37:38,900 --> 00:37:41,400
So really looking at the 
definition of how are we 

714
00:37:41,400 --> 00:37:42,900
defining? 
What is allowable? 

715
00:37:42,900 --> 00:37:45,500
And obviously we want to have 
safety procedures but when you 

716
00:37:45,500 --> 00:37:49,400
make the definition of allowable
so much harder to comply with 

717
00:37:49,900 --> 00:37:52,900
it, makes it unprofitable for us
to build new nuclear and sadly 

718
00:37:52,900 --> 00:37:56,500
just take so much longer. 
So I'm hoping new tech comes out

719
00:37:56,500 --> 00:38:00,000
and I'm hoping that we can get 
more clarity from the regulatory

720
00:38:00,000 --> 00:38:03,100
bodies and make it clear 
definition of the Amount of 

721
00:38:03,108 --> 00:38:07,800
allowable radiation the future. 
Absolutely love it and and 

722
00:38:07,800 --> 00:38:11,100
you're kind of bringing up a 
narrative that I hear a lot 

723
00:38:11,100 --> 00:38:14,300
coming out, not necessarily from
bit corners but those that are 

724
00:38:14,300 --> 00:38:16,600
anti Bitcoin or anti Bitcoin 
mining. 

725
00:38:17,000 --> 00:38:18,400
And we talk about it all the 
time. 

726
00:38:18,400 --> 00:38:23,300
It's the incredible Hoops that 
bitcoiners Bitcoin companies and

727
00:38:23,300 --> 00:38:26,900
Bitcoin miners have to jump 
through to basically justify 

728
00:38:26,900 --> 00:38:30,500
what we do. 
So what's your thoughts on like 

729
00:38:30,500 --> 00:38:34,900
the whole ESG green energy? 
Narrative that I think is going 

730
00:38:34,900 --> 00:38:37,100
to come down very hard on 
bitcoin miners. 

731
00:38:37,100 --> 00:38:40,300
We've seen, we're seeing like 
the initial grumblings of this, 

732
00:38:40,700 --> 00:38:43,800
but I think that this is one of 
those narratives that is going 

733
00:38:43,800 --> 00:38:47,000
to definitely be weaponized 
against Bitcoin Miners, And 

734
00:38:47,000 --> 00:38:50,500
there's going to have to be a 
huge PR move against it, like 

735
00:38:50,500 --> 00:38:54,200
our boy Pierre Richard and his 
trolling of the New York Times 

736
00:38:54,200 --> 00:38:56,700
absolute Legend, but what's your
thoughts on all this? 

737
00:38:58,300 --> 00:39:02,300
Yes, I think esu's environmental
sustainable and governance. 

738
00:39:02,900 --> 00:39:08,700
So when it comes to 
environmental we are using 

739
00:39:08,700 --> 00:39:11,000
strand energy. 
You know, Bitcoin mining can be 

740
00:39:11,000 --> 00:39:15,100
used to capture methane gas. 
Bitcoin mining can be utilized 

741
00:39:15,100 --> 00:39:19,000
to provide wind and solar 
consumption wind and solar. 

742
00:39:19,200 --> 00:39:20,600
Yes. 
Bitcoin mining can also be used 

743
00:39:20,600 --> 00:39:24,100
at a coal plant because every 
electrons created is a lever 

744
00:39:24,100 --> 00:39:26,400
electron is equal. 
It doesn't matter what it was 

745
00:39:26,400 --> 00:39:28,500
created from. 
When it comes to governance, I 

746
00:39:28,508 --> 00:39:31,500
think Bitcoin is a significant 
better way. 

747
00:39:31,500 --> 00:39:35,700
It's definitely better way to 
govern the people to govern the 

748
00:39:35,700 --> 00:39:38,900
amount, the, the money the 
system at whole it provides more

749
00:39:38,900 --> 00:39:41,600
protection there. 
And so, I think that, yes, 

750
00:39:41,600 --> 00:39:44,400
they're going to use the guise 
of ESG to push down the fact 

751
00:39:44,400 --> 00:39:47,900
that using energy is bad. 
But that's the fundamental 

752
00:39:47,900 --> 00:39:52,500
difference of understanding how 
he condom he's function. 

753
00:39:52,500 --> 00:39:55,800
How values created is it all 
comes from energy. 

754
00:39:57,000 --> 00:40:01,300
We are made Up of energy, 
everything around us is was 

755
00:40:01,300 --> 00:40:06,700
created with energy that metal 
pen, you use, or that laptop, 

756
00:40:06,700 --> 00:40:10,900
you have was made from energy 
from a furnace, from a coal 

757
00:40:10,900 --> 00:40:14,500
plant, from a nuclear bomb, 
whatever was, and then it came 

758
00:40:14,500 --> 00:40:17,800
into your physical existence. 
And so, yes, we're bringing more

759
00:40:17,800 --> 00:40:22,300
awareness to the energy usage of
our planet, but it's not 

760
00:40:22,300 --> 00:40:25,500
necessarily A Bad Thing to use 
energy when it's a productive 

761
00:40:25,500 --> 00:40:29,600
use of energy, if anything, The 
worst type of energy is building

762
00:40:29,600 --> 00:40:33,500
energy in the middle of nowhere,
where no one needs. 

763
00:40:33,700 --> 00:40:38,700
And it just goes to the pay, the
larger, you know, companies 

764
00:40:38,700 --> 00:40:42,400
BlackRock Vanguard State Street 
and the large energy companies 

765
00:40:42,400 --> 00:40:44,900
are the ones profiting and 
benefiting from it, which means 

766
00:40:44,900 --> 00:40:49,200
that a select few people are are
effectively taxing or not, 

767
00:40:49,200 --> 00:40:51,500
effectively taxing but a select 
few people are benefiting from 

768
00:40:51,500 --> 00:40:55,300
these tax incentives and 
whenever we have these massive 

769
00:40:55,300 --> 00:40:57,500
incentive packages, we know that
causes inflation. 

770
00:40:57,500 --> 00:41:02,100
Chin, and inflation is taxation 
without representation and 

771
00:41:02,100 --> 00:41:05,400
that's a serious problem is 
going to become even bigger 

772
00:41:05,400 --> 00:41:08,000
problem for everyone. 
As we move forward in the future

773
00:41:08,200 --> 00:41:11,400
as inflation, is not going away 
and cost of goods and services 

774
00:41:11,400 --> 00:41:15,500
is only going to increase. 
Yeah, I I'm a little more left 

775
00:41:15,500 --> 00:41:18,400
left side of the bell curve. 
I'm just like more energy good. 

776
00:41:18,400 --> 00:41:22,000
They want you in the stone 
age's, we need energy to improve

777
00:41:22,000 --> 00:41:24,400
society and push Society do 
anything. 

778
00:41:24,400 --> 00:41:27,500
Yes, it's incredible. 
How that is. 

779
00:41:27,600 --> 00:41:29,500
Just a pain, like the average 
person. 

780
00:41:29,500 --> 00:41:33,700
They're like the the ESG 
narrative is, is framed in the 

781
00:41:33,700 --> 00:41:37,800
idea of do less, or as anyone 
that wants to prosper, it's 

782
00:41:37,800 --> 00:41:41,100
like, no, we should be doing 
more to improve our lot in life.

783
00:41:41,100 --> 00:41:46,100
Like, how are we The Crazy Ones?
I agree completely. 

784
00:41:46,100 --> 00:41:48,900
I think that's what with a I 
it's going to explode because AI

785
00:41:48,900 --> 00:41:53,300
allows everyone to have a 
personal assistant to have a 

786
00:41:53,308 --> 00:41:57,600
tutor to be able to really 
enable technology to work for 

787
00:41:57,600 --> 00:41:59,500
them. 
Now, if there's a great book 

788
00:41:59,500 --> 00:42:01,500
called The sovereign individual,
and I'm listening to it right 

789
00:42:01,500 --> 00:42:04,400
now for the first time and they 
talk about the invention of the 

790
00:42:04,400 --> 00:42:09,100
microprocessor, which took away 
the power from nation states and

791
00:42:09,100 --> 00:42:12,800
gave it to the people. 
AI is only going to accelerate 

792
00:42:12,800 --> 00:42:15,600
that you know by 100. 
So what we've seen with the 

793
00:42:15,600 --> 00:42:19,400
power of our phones and u.s. 
microprocessors and being able 

794
00:42:19,400 --> 00:42:21,800
to compute and communicate 
across the world. 

795
00:42:21,800 --> 00:42:26,100
So this is only a trend that the
nation states are losing more 

796
00:42:26,100 --> 00:42:28,700
and more power. 
And individuals are going to 

797
00:42:28,700 --> 00:42:32,100
have the ability to make a 
bigger impact in the world with 

798
00:42:32,100 --> 00:42:35,900
both Ai and microprocessors. 
Ie computers. 

799
00:42:36,000 --> 00:42:38,200
Love it. 
Super glad you brought up AI, 

800
00:42:38,200 --> 00:42:41,000
but before I get into that, we 
absolutely love the sovereign 

801
00:42:41,000 --> 00:42:43,300
individual. 
But I did find this tweet here 

802
00:42:43,300 --> 00:42:47,000
on your Twitter. 
And it's very interesting that 

803
00:42:47,000 --> 00:42:49,300
we're seeing a lot of crypto 
shit. 

804
00:42:49,300 --> 00:42:53,700
Coin influencers, pivoting from 
their crypto to Ai. 

805
00:42:53,700 --> 00:42:57,200
And your Tweet here is if you 
are an AI pivot to energy and 

806
00:42:57,200 --> 00:42:59,400
the Tweet was deleted that you 
quote tweeted. 

807
00:42:59,400 --> 00:43:02,700
So what is your thinking here 
and, and what exactly is going 

808
00:43:02,700 --> 00:43:05,100
on? 
So someone else that if you're 

809
00:43:05,100 --> 00:43:08,300
in crypto pivot to AI or 
something, and I was like, you 

810
00:43:08,300 --> 00:43:11,100
know, what, a I pay with to 
energy and that was really 

811
00:43:11,100 --> 00:43:14,100
because of the amount of capital
coming into the body and combine

812
00:43:14,100 --> 00:43:17,000
infrastructure. 
Act in the amount of really 

813
00:43:17,800 --> 00:43:21,400
investment going into 
construction jobs, going into 

814
00:43:21,600 --> 00:43:24,300
high-tech, going into these 
solar panel manufacturing, wind 

815
00:43:24,300 --> 00:43:27,400
power manufacturing. 
There is a significant amount of

816
00:43:27,400 --> 00:43:31,800
tax savings for deploying energy
that, you know, could be a 

817
00:43:31,800 --> 00:43:33,000
capital could be spent 
otherwise. 

818
00:43:33,000 --> 00:43:34,800
And so the government's 
directing, this capital in the 

819
00:43:34,808 --> 00:43:36,600
energy markets. 
And so, if you're an 

820
00:43:36,600 --> 00:43:39,300
entrepreneur, whenever there's 
Capital moving in One Direction,

821
00:43:39,500 --> 00:43:42,400
there's value to be captured, 
there's systems to be built. 

822
00:43:42,400 --> 00:43:47,100
And I believe that, G is a great
opportunity for the I think with

823
00:43:47,100 --> 00:43:50,100
AI we're seeing that it's going 
to be hard to build a moat. 

824
00:43:50,500 --> 00:43:52,700
You know the big companies are 
coming to Congress saying we 

825
00:43:52,700 --> 00:43:55,900
want to be regulated and 
Congress is like or the spike 

826
00:43:55,900 --> 00:43:58,300
the committee's are like we've 
never had an industry come and 

827
00:43:58,300 --> 00:43:59,900
say we want to be regulated. 
This is weird. 

828
00:43:59,900 --> 00:44:02,100
Why are you guys asking us? 
And the reality is that they 

829
00:44:02,100 --> 00:44:05,800
want to be the banks of a i they
want to make it so you have to 

830
00:44:05,800 --> 00:44:09,400
go to open a, i Microsoft, you 
know, Google one of those three 

831
00:44:09,400 --> 00:44:12,500
Facebook to get. 
You're AI license to run your 

832
00:44:12,500 --> 00:44:14,500
AI. 
The reality is I don't see. 

833
00:44:14,700 --> 00:44:18,100
A, I'm moving in that direction.
I see the open source Community 

834
00:44:18,100 --> 00:44:20,200
accelerating. 
The pace of development of these

835
00:44:20,200 --> 00:44:23,100
models dramatically and they 
already are doing it. 

836
00:44:23,200 --> 00:44:26,600
And I see open source owning a 
eye and making it so that 

837
00:44:26,600 --> 00:44:30,700
everyone can run this, an AI 
system on there, you know, on 

838
00:44:30,700 --> 00:44:33,500
the computer which means that 
there are little modes that you 

839
00:44:33,500 --> 00:44:35,300
can bill. 
If you're working in a, I got 

840
00:44:35,300 --> 00:44:37,500
three different ways tradition. 
If you doing something very 

841
00:44:37,500 --> 00:44:40,000
different than what everyone 
else is doing in order to build 

842
00:44:40,000 --> 00:44:43,400
a moat in order to build value, 
we're in the energy space. 

843
00:44:43,400 --> 00:44:45,100
Is you're looking for cash. 
Cash flow. 

844
00:44:45,300 --> 00:44:46,700
There's real electrons. 
Moving. 

845
00:44:46,900 --> 00:44:49,400
It's an investment into the 
infrastructure in the physical 

846
00:44:49,400 --> 00:44:53,600
world, which has more defined 
returns and cost associated with

847
00:44:53,600 --> 00:44:55,700
it. 
Well, well, I absolutely love it

848
00:44:55,700 --> 00:44:58,100
cuz I am also kind of an 
agreement. 

849
00:44:58,100 --> 00:45:03,600
I think the The Narrative of 
like AI is going to steal our 

850
00:45:03,600 --> 00:45:07,200
lunch and take all of our jobs. 
I think it's a little misguided 

851
00:45:07,200 --> 00:45:09,900
and dystopia and I always look 
at it the same way like 

852
00:45:09,900 --> 00:45:12,200
technology is here to improve 
our lives. 

853
00:45:12,200 --> 00:45:16,700
And I think a I will Inevitably 
improve our lives in a way. 

854
00:45:16,700 --> 00:45:22,500
We can't even imagine like, 
humans are very adaptable and 

855
00:45:22,500 --> 00:45:25,400
now we have this new technology 
that's going to make our lives 

856
00:45:25,400 --> 00:45:26,900
even better. 
Like, I don't know if you use 

857
00:45:26,900 --> 00:45:30,400
chat gbt guys, but like, it's 
pretty fucking awesome. 

858
00:45:30,500 --> 00:45:33,000
It's pretty cool to do the 
things that you want to do very 

859
00:45:33,000 --> 00:45:35,600
quickly. 
Anyways, I don't market 

860
00:45:35,600 --> 00:45:38,400
Jerusalem wrote, a great, great 
article, and I called why a, I 

861
00:45:38,400 --> 00:45:42,300
will save the world and he 
starts off with every student, 

862
00:45:42,500 --> 00:45:44,400
will have it their own personal 
tutor. 

863
00:45:44,600 --> 00:45:49,300
That never gets tired that is 
able to work on the child's pace

864
00:45:49,400 --> 00:45:52,200
and with the child through these
different new learning, as 

865
00:45:52,200 --> 00:45:54,900
they're learning these core 
skill sets that is going to 

866
00:45:54,900 --> 00:45:56,400
change everything. 
We know. 

867
00:45:56,400 --> 00:46:00,700
So AI has a potential to be all 
of our serve Butlers and take 

868
00:46:00,800 --> 00:46:04,500
all of this raw computational 
power kind of like the ability 

869
00:46:04,500 --> 00:46:08,400
to execute on an idea much 
faster than without a i before. 

870
00:46:08,400 --> 00:46:11,900
So, I'm a big proponent of it 
and of keeping a decentralized. 

871
00:46:12,000 --> 00:46:13,500
Absolutely love it. 
Okay. 

872
00:46:13,900 --> 00:46:19,400
Pivoting a I'll bit right now, 
again we already got your price 

873
00:46:19,400 --> 00:46:26,500
speculation but what is your? 
I don't know, two-year, future 

874
00:46:26,800 --> 00:46:30,400
crystal ball telling you about 
Bitcoin, mining moving forward, 

875
00:46:30,500 --> 00:46:33,000
the next two years. 
Like what are you looking for? 

876
00:46:33,300 --> 00:46:36,400
What do you think is in the 
roadmap ahead and then to tack 

877
00:46:36,400 --> 00:46:38,700
on top of that? 
Do you still believe that having

878
00:46:38,700 --> 00:46:44,100
cycle is intact? 
I do I still believe that the 

879
00:46:44,100 --> 00:46:46,500
having cycle is intact even 
though we didn't, you know, hit 

880
00:46:46,500 --> 00:46:49,800
a hundred thousand dollars. 
I think that has more to do with

881
00:46:50,200 --> 00:46:52,700
the amount of fake Bitcoins that
were being sold or paper 

882
00:46:52,700 --> 00:46:57,300
Bitcoins by, you know, ft x and 
others then. 

883
00:46:57,400 --> 00:47:01,300
So that's my thoughts on on them
having and the four-year cycle. 

884
00:47:01,800 --> 00:47:05,700
I do think that it plays 
dramatically into the price of 

885
00:47:05,700 --> 00:47:09,400
Bitcoin as we see the float, a 
Bitcoin is that amount of 

886
00:47:09,400 --> 00:47:12,600
Bitcoins I haven't been so Old 
or moved for over a year is only

887
00:47:12,600 --> 00:47:14,500
increasing. 
And when that floats, 

888
00:47:14,500 --> 00:47:16,900
eliminated, when the price runs 
as I mentioned, it runs on only 

889
00:47:16,900 --> 00:47:19,200
a few days a year and goes up 
dramatically. 

890
00:47:19,400 --> 00:47:21,100
That order book is really, 
really thin. 

891
00:47:21,800 --> 00:47:24,500
So you know, long-term next two 
years, I think Bitcoin 

892
00:47:24,700 --> 00:47:27,500
development. 
I don't know where ordinals are 

893
00:47:27,500 --> 00:47:29,500
going to go. 
I hope there's more clarity on 

894
00:47:29,800 --> 00:47:32,500
the ability to provide cash flow
from the SEC through these 

895
00:47:32,800 --> 00:47:35,500
ordinals assets. 
I hope there's more technology 

896
00:47:35,500 --> 00:47:38,600
built on on Lightning, you know,
I think social media was a great

897
00:47:38,600 --> 00:47:42,100
first step but there's a lot of 
Interesting opportunities out 

898
00:47:42,100 --> 00:47:46,100
there, people are looking like 
so I think is sonoda Sy. 

899
00:47:46,100 --> 00:47:49,800
N OT a Adam helping people 
settle Energy payments using 

900
00:47:49,800 --> 00:47:52,200
lightning every day or every 
every 15 minutes. 

901
00:47:52,200 --> 00:47:56,200
So it's a huge amount of 
opportunities out there to build

902
00:47:56,200 --> 00:47:59,400
on the Bitcoin stack. 
And with ordinals, there was a 

903
00:47:59,400 --> 00:48:04,100
lot more interest in from 
developers in Bitcoin, which is 

904
00:48:04,100 --> 00:48:08,600
this core kind of, you know, 
slow-moving technology, which 

905
00:48:08,600 --> 00:48:12,300
may be be opening up. 
To The Wider Public public. 

906
00:48:12,300 --> 00:48:14,800
And The Wider developers, love 
it. 

907
00:48:14,800 --> 00:48:18,300
So again, we're picking your 
brain, hear someone that's been 

908
00:48:18,300 --> 00:48:20,400
in the space for a long long 
time. 

909
00:48:20,400 --> 00:48:22,400
But what do you most bullish on 
right now? 

910
00:48:22,400 --> 00:48:26,600
In General, on bitcoin, like 
what gets you the most excited? 

911
00:48:26,600 --> 00:48:29,300
Considering you've been doing 
this for almost a decade? 

912
00:48:30,600 --> 00:48:34,000
The most, you know, what gets me
the most exciting is waking up 

913
00:48:34,000 --> 00:48:38,100
everyday and in building new 
mines and working in local 

914
00:48:38,100 --> 00:48:42,100
communities in the Midwest. 
And and I Were and bring it on 

915
00:48:42,600 --> 00:48:46,100
young young men and young women 
and allowing them to have the 

916
00:48:46,100 --> 00:48:49,500
opportunity to service these 
facilities have high paying jobs

917
00:48:49,600 --> 00:48:52,600
working in an environment that 
is productive for their mental 

918
00:48:52,600 --> 00:48:55,700
health and really leading a 
group, you know, there's a red, 

919
00:48:55,700 --> 00:48:57,800
it something recently that 
there's really two ways you can 

920
00:48:57,800 --> 00:49:00,500
grow as an individual. 
The first one is to have kids 

921
00:49:00,500 --> 00:49:03,800
and be a parent and I'm still 
too young for that and my 

922
00:49:03,800 --> 00:49:06,400
opinion, the second one is to 
run a company and be an 

923
00:49:06,400 --> 00:49:09,000
entrepreneur. 
So I think, you know, for me, 

924
00:49:09,000 --> 00:49:12,200
I'm really focused on On I'm 
just I'm just building a better.

925
00:49:12,200 --> 00:49:15,900
Better processes better team in 
more accessibility so if I had 

926
00:49:15,900 --> 00:49:18,000
to go back to answer the 
question of what I'm most 

927
00:49:18,000 --> 00:49:20,700
excited for, I have to have to 
toot my own horn a little bit. 

928
00:49:20,700 --> 00:49:24,300
I think I'm really excited for 
the ability for people to get 

929
00:49:24,300 --> 00:49:27,200
into these infrastructure 
streams if it's Bitcoin mining, 

930
00:49:27,200 --> 00:49:31,600
if its energy wherever they're, 
you know, wherever there might 

931
00:49:31,600 --> 00:49:35,300
be but get into real cash flow 
that's going to pay a dividend 

932
00:49:35,300 --> 00:49:38,000
and and be able to do that 
through the reg CF process. 

933
00:49:38,000 --> 00:49:40,500
So always exploring exploring 
what that looks like. 

934
00:49:40,500 --> 00:49:43,500
You can explain how to make that
an easier solution and do one 

935
00:49:43,500 --> 00:49:46,800
day launching an app, where 
provides influencers, the 

936
00:49:46,808 --> 00:49:51,300
ability to work with our fans to
provide them, a clear investment

937
00:49:51,300 --> 00:49:53,500
in an infrastructure project, 
that's going to pay dividends 

938
00:49:53,500 --> 00:49:57,900
for them, for the rest for 10-15
five years, depending on the 

939
00:49:57,900 --> 00:50:00,200
investment. 
But the Bitcoin space you know, 

940
00:50:00,200 --> 00:50:05,500
it's it's not the same old same 
old but it's meant to to not 

941
00:50:05,500 --> 00:50:09,000
really change too much. 
Yeah, it's stable on purpose. 

942
00:50:09,000 --> 00:50:13,700
This is a feature, not a bug. 
Ugh, don't need any flashy 

943
00:50:13,700 --> 00:50:16,600
thing, exactly. 
This is this is what people miss

944
00:50:16,600 --> 00:50:18,200
all the time. 
It's like, you don't need a new 

945
00:50:18,200 --> 00:50:22,300
dopamine rush to understand why 
you love Bitcoin. 

946
00:50:22,300 --> 00:50:26,600
And why is stable monetary 
policy is so exciting and and 

947
00:50:27,000 --> 00:50:30,100
not only exciting but so needed 
in the world right now but I 

948
00:50:30,100 --> 00:50:31,700
kind of want to go back to what 
you're talking about. 

949
00:50:31,900 --> 00:50:35,100
Are you getting more interest 
recently from from people 

950
00:50:35,700 --> 00:50:37,800
looking into Bitcoin mining than
in the past? 

951
00:50:37,800 --> 00:50:40,300
Or is it just like a slow grind 
up? 

952
00:50:40,500 --> 00:50:42,100
People are waking up to the 
idea. 

953
00:50:42,100 --> 00:50:44,800
Oh wait, maybe I can you know, 
make a career out of this 

954
00:50:44,800 --> 00:50:49,000
Bitcoin mining thing. 
I would say that the people who 

955
00:50:49,000 --> 00:50:51,500
have seen the Playbook before 
the people who have done it 

956
00:50:51,500 --> 00:50:53,500
before. 
They're definitely allocating 

957
00:50:53,500 --> 00:50:56,000
Capital. 
People who are, we're not seeing

958
00:50:56,000 --> 00:50:57,900
in a loads of new people come in
the industry. 

959
00:50:58,700 --> 00:51:02,000
We're seeing smarter investors, 
we up their positions, you know,

960
00:51:02,000 --> 00:51:05,700
dollar cost average into their 
machines and invest capital in 

961
00:51:05,700 --> 00:51:09,400
it. 
But like I said, sadly people 

962
00:51:09,400 --> 00:51:11,800
want to keep want to allocate 
Capital when it's when it's 

963
00:51:11,800 --> 00:51:14,600
exciting, when the price is 
going up versus when the prices 

964
00:51:14,600 --> 00:51:16,600
down. 
And and so that's just that's 

965
00:51:16,600 --> 00:51:19,300
kind of what we're Seeing today 
oh man Gotta Love human 

966
00:51:19,300 --> 00:51:22,000
psychology. 
It's that's my favorite aspect 

967
00:51:22,000 --> 00:51:24,500
about all this stuff but anyway 
it's let's use the last couple 

968
00:51:24,500 --> 00:51:28,700
of minutes JP and because I want
to be mindful of your time, 

969
00:51:28,700 --> 00:51:31,900
stick it around an hour, but 
what are you working on? 

970
00:51:31,900 --> 00:51:33,700
What do you want? 
The people to know, where can 

971
00:51:33,700 --> 00:51:35,500
they reach you and all this good
stuff. 

972
00:51:35,700 --> 00:51:38,600
And then I got one last question
because I saw your also in the 

973
00:51:38,600 --> 00:51:41,200
Bitcoin content game. 
But let's go with what are you 

974
00:51:41,200 --> 00:51:43,600
working on right now and what do
you want the people to know? 

975
00:51:45,000 --> 00:51:48,400
Sure. 
So what I want people to know is

976
00:51:48,700 --> 00:51:52,200
keep stacking SATs every day and
put some stats away and don't 

977
00:51:52,200 --> 00:51:53,500
sell them. 
No matter what. 

978
00:51:53,500 --> 00:51:57,000
Like wait 20 years, make a 
promise to yourself that you're 

979
00:51:57,000 --> 00:52:00,100
going to put in the safe and 
you're not going to look at that

980
00:52:00,100 --> 00:52:02,100
paper wallet. 
It's something that I regret 

981
00:52:02,100 --> 00:52:05,600
doing and back in 2013 is you 
know, selling Bitcoin at hundred

982
00:52:05,600 --> 00:52:07,900
fifty dollars, a coin or 
whatever and not holding on to 

983
00:52:07,900 --> 00:52:10,300
it longer. 
So I recommend everyone doing 

984
00:52:10,300 --> 00:52:12,200
that because the prices were 
talking about today twenty six 

985
00:52:12,200 --> 00:52:14,100
thousand dollars a coin ten 
years from now. 

986
00:52:14,300 --> 00:52:17,200
Now, those numbers are going to 
look insanely small compared to 

987
00:52:17,200 --> 00:52:19,300
what there will be. 
So that's my advice to everyone 

988
00:52:19,300 --> 00:52:21,900
is put away the Bitcoin so you 
can actually sell it. 

989
00:52:21,900 --> 00:52:24,800
You can't use it and you can't 
touch it. 

990
00:52:24,800 --> 00:52:28,700
Effectively what I'm working, 
honors, the red cof working. 

991
00:52:28,700 --> 00:52:31,800
On deploying new facilities, 
really hiring, and training. 

992
00:52:31,800 --> 00:52:35,600
The right staff to run each 
facility and building out a 

993
00:52:36,700 --> 00:52:40,600
process or a guideline on how 
someone can come into our 

994
00:52:40,600 --> 00:52:42,100
organization. 
At the mining stores of 

995
00:52:42,100 --> 00:52:44,200
technician level one with very 
little experience. 

996
00:52:44,300 --> 00:52:46,300
Variants. 
How they can go from making 

997
00:52:46,300 --> 00:52:50,000
twenty two dollars, an hour all 
the way up to making $40 $50 an 

998
00:52:50,000 --> 00:52:54,500
hour has a key employee in the 
business and as a operator and 

999
00:52:54,500 --> 00:52:57,200
owner. 
That's that's where my focus is.

1000
00:52:57,200 --> 00:53:00,600
I want to make sure that my team
has clear responsibilities and 

1001
00:53:00,600 --> 00:53:05,100
clear outcomes and outlines of 
how they can succeed in perform 

1002
00:53:05,100 --> 00:53:08,900
the best and how we can succeed 
as an organization and really, 

1003
00:53:08,900 --> 00:53:11,300
you know, one stepping foot in 
front of the other just 

1004
00:53:11,300 --> 00:53:14,100
deploying megawatts across the 
Midwest, love it. 

1005
00:53:14,200 --> 00:53:16,900
I absolutely love it. 
Okay, well you did talk about 

1006
00:53:16,900 --> 00:53:19,700
the mining store so let's give 
it one last plug before we roll 

1007
00:53:19,700 --> 00:53:21,300
this out. 
What are you doing over there at

1008
00:53:21,300 --> 00:53:24,300
the mining store? 
And what do you guys offer over 

1009
00:53:24,300 --> 00:53:27,100
there? 
Yes, we got the manage mining 

1010
00:53:27,100 --> 00:53:28,600
Service. 
As I mentioned where you're 

1011
00:53:28,600 --> 00:53:31,600
going, it's a profit-sharing. 
Bitcoin mining solution, we do 

1012
00:53:31,600 --> 00:53:34,500
out for normal hosting and then 
we help large clients, build out

1013
00:53:34,500 --> 00:53:37,100
and operate their own sites and 
own them. 

1014
00:53:37,300 --> 00:53:40,000
This is the first facility there
on the screen that we ever built

1015
00:53:40,200 --> 00:53:42,500
in Iowa. 
And we've been doing projects 

1016
00:53:42,500 --> 00:53:46,200
all across the nation. 
And it's an exciting time. 

1017
00:53:46,900 --> 00:53:50,200
I'm also on Tick-Tock as well 
and making content on Instagram 

1018
00:53:50,600 --> 00:53:54,300
and if you haven't checked out 
those videos, they're very it 

1019
00:53:54,300 --> 00:53:55,900
can be clicked Beatty, 
definitely check them out. 

1020
00:53:55,900 --> 00:53:58,100
Some of them are trying to get 
more useful but it's my 

1021
00:53:58,100 --> 00:54:01,200
intention to build like a 
thousand fans and to really 

1022
00:54:01,400 --> 00:54:03,600
start sharing the information 
and knowledge that I have over 

1023
00:54:03,600 --> 00:54:07,400
the past 10 years and let the 
world know why it's important. 

1024
00:54:07,400 --> 00:54:09,500
So that's what I'm excited for. 
Love it. 

1025
00:54:09,500 --> 00:54:13,500
I'm glad you touched on the 
Bitcoin content game because I 

1026
00:54:13,508 --> 00:54:16,100
think this is Is a much-needed 
area. 

1027
00:54:16,100 --> 00:54:20,300
It's like hey you know I may not
be a developer, I may not be a 

1028
00:54:20,300 --> 00:54:24,400
miner but I'm doing my best to 
try to spread that signal wake 

1029
00:54:24,400 --> 00:54:27,900
up more people and have them 
hold Bitcoin and kudos to you, 

1030
00:54:27,900 --> 00:54:32,300
bro, because I know that, you 
know, it is not as easy as it 

1031
00:54:32,300 --> 00:54:35,700
looks to make Bitcoin content or
content in general. 

1032
00:54:35,700 --> 00:54:37,900
So what's your thoughts on 
bitcoin content right now? 

1033
00:54:39,200 --> 00:54:41,400
I mean, I love it. 
Keep make it like, we have a 

1034
00:54:41,400 --> 00:54:43,800
formula that works really well 
for viral videos. 

1035
00:54:43,800 --> 00:54:46,100
For mining people love to 
understand that computers can 

1036
00:54:46,100 --> 00:54:49,500
make the money and the those 
videos seem to do really well. 

1037
00:54:49,500 --> 00:54:53,300
So definitely check them out. 
I had a video, get 37 million 

1038
00:54:53,300 --> 00:54:57,000
views on just my Tick Tock, and 
then from there, and BC reached 

1039
00:54:57,000 --> 00:54:59,300
out, I was like, last year. 
Hey come come on dr. 

1040
00:54:59,300 --> 00:55:02,100
Phil and explain Bitcoin mining 
and Bitcoin to dr. 

1041
00:55:02,100 --> 00:55:05,500
Phil and so, I had an amazing 
experience last January and the 

1042
00:55:05,500 --> 00:55:07,400
ability to do that. 
And I'm hoping more 

1043
00:55:07,400 --> 00:55:08,900
opportunities like that can come
up. 

1044
00:55:09,100 --> 00:55:12,700
I'm able to share the knowledge 
base that I built in simplify 

1045
00:55:13,100 --> 00:55:16,900
Bitcoin and Bitcoin mining to to
the masses and I'm excited to 

1046
00:55:16,900 --> 00:55:21,100
continue to do that. 
Wow amazing talking to dr. 

1047
00:55:21,100 --> 00:55:24,200
Phil about Bitcoin mining. 
How did I not know about this is

1048
00:55:24,200 --> 00:55:27,600
incredible. 
Absolutely insane. 

1049
00:55:28,400 --> 00:55:32,600
Your Pub, the videos I could I 
could at this point. 

1050
00:55:32,600 --> 00:55:38,300
But oh man. 
Well before I go, how did he 

1051
00:55:38,300 --> 00:55:39,300
respond to? 
It. 

1052
00:55:40,900 --> 00:55:44,200
I mean he was it's a similar. 
Like I can't touch it. 

1053
00:55:44,200 --> 00:55:47,200
I don't really know what this is
but he was very open and dr. 

1054
00:55:47,200 --> 00:55:49,800
Phil, I mean, he does three 
shows a day so he is reading 

1055
00:55:49,800 --> 00:55:52,700
from the teleprompter, you know,
question after question his 

1056
00:55:52,700 --> 00:55:57,000
reaction is natural and but he 
is everything is built around 

1057
00:55:57,000 --> 00:56:00,600
him and we had a show it was an 
hour hour long me and four, 

1058
00:56:00,600 --> 00:56:04,400
other guests and I was actually 
negotiating or kind of standing 

1059
00:56:04,400 --> 00:56:07,200
up for why Bitcoin was valuable 
and then had someone on the 

1060
00:56:07,208 --> 00:56:09,600
other side say or was you know 
like dog shit and it was the 

1061
00:56:09,600 --> 00:56:11,400
worst and I had to Explain to 
him. 

1062
00:56:11,400 --> 00:56:14,100
No, no no, that's not the case. 
And like this is why it's 

1063
00:56:14,100 --> 00:56:16,300
valuable and so we're going back
and forth so they made it into a

1064
00:56:16,308 --> 00:56:19,000
pretty good drama you know as as
dr. 

1065
00:56:19,000 --> 00:56:22,400
Phil does. 
Yeah, they kind of expect it got

1066
00:56:22,400 --> 00:56:24,700
to expect it with dr. 
Phil anyways. 

1067
00:56:24,700 --> 00:56:27,700
Alright, let's let's plug your 
Twitter will plug mining store 

1068
00:56:27,700 --> 00:56:29,600
one more time and then we'll 
roll this out. 

1069
00:56:29,600 --> 00:56:32,100
So we don't take up too much of 
your time because I'm sure 

1070
00:56:32,100 --> 00:56:35,100
you're a busy guy. 
I appreciate it. 

1071
00:56:35,100 --> 00:56:37,000
Thanks again, guys. 
Love it. 

1072
00:56:37,000 --> 00:56:39,300
All right guys, go follow him on
Twitter. 

1073
00:56:39,300 --> 00:56:43,100
JP Barak mining, store.com. 
You already know the deal. 

1074
00:56:43,600 --> 00:56:45,200
Get in touch with him. 
All your DMs open. 

1075
00:56:45,200 --> 00:56:46,400
Can people get in touch with 
you? 

1076
00:56:46,400 --> 00:56:49,800
Are you a man of the people? 
Yes Tammy said medium is they're

1077
00:56:49,800 --> 00:56:52,800
open on every platform Instagram
and Twitter of the best. 

1078
00:56:52,800 --> 00:56:56,000
Let's go. 
All right guys well hey JP 

1079
00:56:56,000 --> 00:56:58,100
really appreciate it. 
Hang out for a minute and I will

1080
00:56:58,100 --> 00:57:02,300
roll this one out and then we'll
let you get on your day. 

1081
00:57:03,300 --> 00:57:05,500
All right, guys, really 
appreciate it. 

1082
00:57:05,500 --> 00:57:07,400
I hope you guys got something 
from this one. 

1083
00:57:07,400 --> 00:57:11,600
I absolutely blew my mind. 
Super bullish, not only on 

1084
00:57:11,600 --> 00:57:13,900
bitcoin, but Bitcoin mining in 
general, obviously. 

1085
00:57:13,900 --> 00:57:17,100
But I really loved a lot of JP's
take, especially at the end. 

1086
00:57:17,100 --> 00:57:20,900
Bitcoin content. 
Creation game is the next level 

1087
00:57:20,900 --> 00:57:23,200
and he's on dr. 
Phil amazing. 

1088
00:57:24,600 --> 00:57:27,600
All right, guys, well hey, we'll
be back for our normal show 

1089
00:57:27,600 --> 00:57:30,300
tomorrow. 
Like subscribe. 

1090
00:57:30,300 --> 00:57:33,200
Share it. 
Make sure you get this one to 

1091
00:57:33,200 --> 00:57:36,000
your normally friend. 
Maybe your parents are against 

1092
00:57:36,000 --> 00:57:38,300
Bitcoin mining. 
Maybe your girlfriend is like, 

1093
00:57:38,300 --> 00:57:40,500
why are you spending all your 
money on a 6? 

1094
00:57:40,600 --> 00:57:42,900
Well, I think we got a video for
you guys. 

1095
00:57:42,900 --> 00:57:46,700
Anyways, appreciate all you guys
will be back tomorrow for the 

1096
00:57:46,700 --> 00:57:50,200
normal show. 1210 12:15 p.m. 
eastern time on YouTube. 

1097
00:57:50,300 --> 00:57:51,100
Peace out, guys.