1
00:00:00,200 --> 00:00:04,600
I don't believe sufficient ever 
have a good money against before

2
00:00:04,600 --> 00:00:08,800
we take something out of the 
names of governments, welcome 

3
00:00:08,800 --> 00:00:10,700
back everyone. 
We're simply Bitcoin. 

4
00:00:10,700 --> 00:00:13,500
We break down the news. 
The daily fail me review, 

5
00:00:13,500 --> 00:00:17,500
software releases Hardware 
releases and the websites by 

6
00:00:17,500 --> 00:00:22,700
plebs joining us today. 
Fellow Bitcoin ER, minor Chief 

7
00:00:22,700 --> 00:00:26,900
mining officer at bit Farms. 
I'm talking about Ben gonyo he's

8
00:00:26,900 --> 00:00:29,500
joining us. 
We are diving into the numbers 

9
00:00:29,500 --> 00:00:30,600
though. 
Let's do it. 

10
00:00:31,300 --> 00:00:35,100
Brought to you by Bitcoin 2022 
is going to be the largest 

11
00:00:35,100 --> 00:00:39,000
Bitcoin conference celebration 
party ever hosted in Miami 

12
00:00:39,000 --> 00:00:41,900
Beach. 
Florida from April 6th to 9th. 

13
00:00:42,100 --> 00:00:45,200
Get your tickets quickly before 
the price goes up. 

14
00:00:45,200 --> 00:00:47,600
Speaker list includes night 
president named buchelli. 

15
00:00:47,600 --> 00:00:49,700
Michael sailor, say 15. 
Adam back. 

16
00:00:49,700 --> 00:00:52,300
Jack mahler's Senator lummis and
dr. 

17
00:00:52,300 --> 00:00:55,200
Jordan Pearson and many, many 
more you can take advantage of 

18
00:00:55,208 --> 00:00:59,500
the link down below for 10% off 
your tickets to bitcoin 2022 at 

19
00:00:59,500 --> 00:01:01,000
the time. 
Recording the block height of 

20
00:01:01,000 --> 00:01:02,500
seven hundred. 
Twenty eight thousand, eight 

21
00:01:02,500 --> 00:01:07,800
hundred forty-seven the Bitcoin 
price 40 3910 chain rewrite days

22
00:01:07,800 --> 00:01:15,400
739 total public lightning 
capacity 3560 4.53 I do believe 

23
00:01:15,400 --> 00:01:17,900
that's higher than yesterday. 
Nico Moscow. 

24
00:01:17,900 --> 00:01:26,000
Time 2277 blocks to the having 
111,000 153 and the samurai 

25
00:01:26,000 --> 00:01:31,200
Whirlpool unspent capacity, 
Samurai Whirlpool is Is a coin 

26
00:01:31,200 --> 00:01:35,600
or collaborative spend service. 
It is not a mixer and the 

27
00:01:35,600 --> 00:01:42,700
unspent capacity is 4390 dot. 98
the numbers, the numbers. 

28
00:01:42,700 --> 00:01:44,000
The numbers are, dude. 
It's so funny. 

29
00:01:44,000 --> 00:01:46,300
We got a comment on yesterday's 
video. 

30
00:01:46,800 --> 00:01:54,100
It said, Moscow, time reported 
exactly so the Moscow time meme 

31
00:01:54,100 --> 00:01:58,600
was created before the events 
that are happening in Ukraine, 

32
00:01:58,600 --> 00:02:02,900
so Anyways, it's funny. 
But no I think they were 

33
00:02:02,900 --> 00:02:04,600
trolling us. 
But anyways, guys, you know, the

34
00:02:04,600 --> 00:02:06,300
deal to show. 
If you're new to this channel, 

35
00:02:06,600 --> 00:02:08,199
we don't speculate. 
We're not going to tell you 

36
00:02:08,199 --> 00:02:10,600
where the price, we think the 
price is going to go like a lot 

37
00:02:10,600 --> 00:02:14,000
of other YouTubers like to focus
on the signal on be cut and what

38
00:02:14,000 --> 00:02:18,100
we do advocate for is long time 
preference you know Fiat mine as

39
00:02:18,100 --> 00:02:21,400
much as possible from your Fiat 
job and just dump that into 

40
00:02:21,400 --> 00:02:23,900
Bitcoin. 
And I have this very good tool 

41
00:02:24,100 --> 00:02:27,400
that highlights the power of DCA
and we're going to go to it. 

42
00:02:27,400 --> 00:02:33,000
It's called DC a Bitcoin.com. 
Right, and look, $10 a week, 

43
00:02:33,000 --> 00:02:34,900
right? 
That's, you know, that's not, 

44
00:02:34,900 --> 00:02:37,100
you know, not a crazy amount of 
money. 

45
00:02:37,600 --> 00:02:40,900
And if you started doing that, 
you know, for a weekly basis as 

46
00:02:40,900 --> 00:02:42,700
I move it to a daily basis, 
right? 

47
00:02:42,900 --> 00:02:47,800
Let's move it to a daily basis, 
right invested a total right of 

48
00:02:47,800 --> 00:02:50,800
here, we go of 18,000 dollars, 
right? 

49
00:02:50,800 --> 00:02:54,000
You do this for five years today
would be worth a hundred and 

50
00:02:54,000 --> 00:02:57,800
fifty two thousand. 
If you did the same thing with 

51
00:02:57,800 --> 00:03:03,600
the SMP or the Dow Jones, Right?
You invested 18,000 18,000 here 

52
00:03:03,600 --> 00:03:08,900
and it could be 20 1859 and for 
the Dow Jones would be twenty 

53
00:03:08,900 --> 00:03:11,600
three thousand seven hundred 
ninety three thousand that is 

54
00:03:11,700 --> 00:03:15,100
absolutely depressing, right? 
To be honest with you. 

55
00:03:15,100 --> 00:03:17,600
So and you could kind of change 
it up a little bit, right? 

56
00:03:17,600 --> 00:03:20,100
Let's say you wanted to invest a
little bit more, right? 

57
00:03:20,100 --> 00:03:22,800
Let's say you wanted to invest 
$50, right? 

58
00:03:23,100 --> 00:03:25,600
You want to move up? 
You invested a total of 100,000 

59
00:03:25,600 --> 00:03:27,700
over a period of five years, 
right? 

60
00:03:27,800 --> 00:03:29,800
And today would be worth almost 
a million dollars. 

61
00:03:30,000 --> 00:03:33,100
One hundred and sixty two 
thousand dollar that is the 

62
00:03:33,100 --> 00:03:35,900
power of DCA. 
That is what we advocate for on 

63
00:03:35,900 --> 00:03:37,700
this show. 
Let's say you can note. 

64
00:03:37,900 --> 00:03:39,400
This is what I hear. 
A lot of people do. 

65
00:03:39,400 --> 00:03:41,500
Let's do 100 bucks a week 
weekly. 

66
00:03:41,900 --> 00:03:45,500
So that would be a total of 
twenty six thousand today. 

67
00:03:45,500 --> 00:03:50,700
Be worth 219,000, right? 
So let's move it on to lets you 

68
00:03:50,700 --> 00:03:53,700
know, because we're advocates 
for long time preference here on

69
00:03:53,700 --> 00:03:55,300
this show. 
Let's say you do that for eight 

70
00:03:55,300 --> 00:03:58,200
years, right? 
You total invested a period of 

71
00:03:58,200 --> 00:04:01,400
eight years if you invested $100
Letters on a weekly basis. 

72
00:04:01,400 --> 00:04:04,100
If you did that for eight years 
right, the total amount you 

73
00:04:04,108 --> 00:04:06,500
would have invested would be 40 
1800. 

74
00:04:06,500 --> 00:04:10,700
The total amount you would have 
today would be two million five 

75
00:04:10,700 --> 00:04:14,800
hundred thousand dollars. 
That is the power of DCA? 

76
00:04:14,800 --> 00:04:17,899
That is why we Advocate it for 
on the show. 

77
00:04:18,100 --> 00:04:20,899
If you have something like 
Bitcoin, why you going to risk 

78
00:04:20,899 --> 00:04:23,800
it and trading experience what? 
Phil and I have experienced 

79
00:04:23,800 --> 00:04:26,300
because more likely than not 
specially if you get into 

80
00:04:26,300 --> 00:04:29,200
Bitcoin. 
What happens is you get really 

81
00:04:29,200 --> 00:04:31,100
attracted to the Shit coin, 
especially in the beginning 

82
00:04:31,100 --> 00:04:33,300
you're like oh it's faster 
Bitcoins, boring. 

83
00:04:33,300 --> 00:04:36,300
Whatever this It's not and then 
perhaps you double your toes in 

84
00:04:36,300 --> 00:04:38,600
a little bit. 
You get rekt it, humbles you 

85
00:04:38,800 --> 00:04:41,600
then you go full Bitcoin, right?
So anyways been what are your 

86
00:04:41,600 --> 00:04:45,200
thoughts on DCA saying? 
You have any stories about it 

87
00:04:45,200 --> 00:04:47,400
except for ETC? 
Yeah. 

88
00:04:47,400 --> 00:04:49,700
And EPA is also what I recommend
to people too. 

89
00:04:49,700 --> 00:04:55,300
Who are getting into Bitcoin? 
It's just the easiest safest way

90
00:04:55,300 --> 00:04:59,400
I think to get the exposure, you
know, it's great method for 

91
00:04:59,400 --> 00:05:00,800
everybody. 
Anybody can do it. 

92
00:05:00,800 --> 00:05:03,600
There's lots of platforms out 
there to get involved. 

93
00:05:04,000 --> 00:05:07,800
And it makes a lot of sense and 
you take away that that risk of 

94
00:05:08,600 --> 00:05:12,100
hey, I put in all my money into 
Bitcoin today and it's down 20% 

95
00:05:12,100 --> 00:05:15,600
tomorrow which, you know, that's
that's the sort of thing that 

96
00:05:15,700 --> 00:05:19,800
really kills people on bitcoin. 
It's just a bad, bad luck and 

97
00:05:19,800 --> 00:05:22,000
bad timing. 
And if you di CA you never have 

98
00:05:22,000 --> 00:05:25,200
that experience. 
So, I highly recommend it and, 

99
00:05:25,200 --> 00:05:28,700
you know, mining is, is my way 
of daily cost averaging into a 

100
00:05:28,700 --> 00:05:31,700
Bitcoin as well. 
So I'm just taking it one step 

101
00:05:31,700 --> 00:05:36,600
further, it's Because I thought 
you mind with the pickaxe but 

102
00:05:36,600 --> 00:05:38,500
apparently you map your mind 
with the Reich. 

103
00:05:38,500 --> 00:05:40,400
I didn't know. 
But yeah, you get Mark the 

104
00:05:40,400 --> 00:05:41,700
Toshi's that way. 
Hmm. 

105
00:05:43,900 --> 00:05:45,500
Break It Anyways. 
Phil what are your thoughts on 

106
00:05:45,500 --> 00:05:48,200
this? 
I'm a bit of a DC ad Jen. 

107
00:05:48,800 --> 00:05:52,800
So I do dollar cost average but 
also at the same time, I do 

108
00:05:52,800 --> 00:05:55,000
random purchases because I can't
help myself. 

109
00:05:55,000 --> 00:05:57,800
So if the Bitcoin price dumps I 
have to buy some. 

110
00:05:57,800 --> 00:06:00,800
But also at the same time, when 
the Bitcoin price pumps, I get 

111
00:06:00,800 --> 00:06:04,600
this fomo that I haven't bought 
enough so it's really weird. 

112
00:06:04,600 --> 00:06:06,200
So yeah. 
So I do a bit of both and I 

113
00:06:06,200 --> 00:06:09,300
don't recommend anyone follow my
nan method because I don't 

114
00:06:09,300 --> 00:06:12,500
really consider it a method but 
yes, DCA. 

115
00:06:12,600 --> 00:06:14,700
Yeah. 
But that's General because I 

116
00:06:14,700 --> 00:06:18,400
don't think anybody could has 
the discipline not to smash by 

117
00:06:18,600 --> 00:06:21,300
okay as long as you sleep, I 
feel like there's somebody out 

118
00:06:21,300 --> 00:06:22,600
there that's that's discipline. 
Deny. 

119
00:06:22,600 --> 00:06:26,900
This is the coin, you're 
speaking of unicorns so it look 

120
00:06:26,900 --> 00:06:29,300
look okay at the end of the day 
because it's like a dopamine 

121
00:06:29,300 --> 00:06:31,500
fix. 
I'm not, I'm not lying, right? 

122
00:06:31,500 --> 00:06:34,200
As long as you do. 
It progressively over time, 

123
00:06:34,400 --> 00:06:35,600
right? 
You're good, because that 

124
00:06:35,600 --> 00:06:38,700
accomplishes the same thing as 
DC is it takes away the fun out 

125
00:06:38,700 --> 00:06:40,100
of it. 
If you just let it, if you just 

126
00:06:40,100 --> 00:06:42,700
leave, it automated the whole 
point is that you smash by, 

127
00:06:42,700 --> 00:06:45,400
you're like yeah. 
Yeah, you know, it feels good 

128
00:06:45,400 --> 00:06:47,000
and then you let it go. 
Why did I wait? 

129
00:06:47,000 --> 00:06:49,000
You know, but it that's the 
whole experience of it. 

130
00:06:49,000 --> 00:06:51,800
But yeah, man, I just wanted to 
highlight that website because 

131
00:06:52,000 --> 00:06:54,900
it highlights the power of what 
we advocate for. 

132
00:06:55,200 --> 00:06:58,500
If you trade more than likely 
than not, you're going to lose 

133
00:06:58,500 --> 00:07:00,800
money. 
If you buy shit coins, I almost 

134
00:07:00,800 --> 00:07:04,200
guarantee you, you're going to 
lose money unless, you know, you

135
00:07:04,200 --> 00:07:07,200
know, the Insiders, etc, etc. 
But anyways, Phil, it's time for

136
00:07:07,300 --> 00:07:11,000
the daily fail. 
Brought to you by Ember app. 

137
00:07:11,000 --> 00:07:13,100
Check them out. 
Amber dot app. 

138
00:07:13,200 --> 00:07:15,500
It's Secret. 
We've all got a stack SATs. 

139
00:07:15,500 --> 00:07:19,200
Why don't you stack with an app 
by actual bitcoiners? 

140
00:07:19,300 --> 00:07:22,100
Low fees, Fair spreads smart 
automation. 

141
00:07:22,200 --> 00:07:27,000
The link is down below ammo, 
smart ways that sense. 

142
00:07:27,300 --> 00:07:30,700
We've got two completely, 
unrelated fails, let's dive into

143
00:07:30,700 --> 00:07:33,100
them. 
Let's get Ben's thoughts on some

144
00:07:33,100 --> 00:07:34,300
of this stuff. 
Here we go. 

145
00:07:34,600 --> 00:07:38,900
Okay, so first we've got tweet 
by Preston fish Preston is not 

146
00:07:38,900 --> 00:07:42,100
our fail, okay, but it's the 
information that is in the 

147
00:07:42,100 --> 00:07:44,100
tweet. 
That is failure. 

148
00:07:44,100 --> 00:07:46,800
Let's dive into it. 
When a central Banker is getting

149
00:07:46,800 --> 00:07:50,400
into the compelling arguments 
phase of whether a currency 

150
00:07:50,400 --> 00:07:53,400
should or shouldn't be a global 
Reserve currency. 

151
00:07:53,800 --> 00:07:55,700
That's not a good sign. 
And what is he doing? 

152
00:07:55,700 --> 00:08:00,800
He is retweeting from Financial 
juice or breaking news. 

153
00:08:01,000 --> 00:08:03,500
Never really heard of but 
anyways, feds Barkin. 

154
00:08:03,600 --> 00:08:06,000
There are numerous compelling 
Arguments for the dollar to 

155
00:08:06,000 --> 00:08:08,200
remain the world's Reserve 
currency. 

156
00:08:08,200 --> 00:08:10,500
And let's take a look crypto 
cloaks. 

157
00:08:10,600 --> 00:08:13,500
Our sponsor wrote back Right 
here. 

158
00:08:13,500 --> 00:08:16,000
This is beautiful. 
So it's not a good Reserve 

159
00:08:16,000 --> 00:08:18,900
currency anymore. 
Perfect, that's why we Bitcoin. 

160
00:08:19,300 --> 00:08:23,300
Yes. 
That is exactly why we Bitcoin. 

161
00:08:23,500 --> 00:08:29,700
So look, that's really cringe. 
Okay, this is the to me. 

162
00:08:29,700 --> 00:08:33,799
This is the beginning of the 
narrative falling apart stage 

163
00:08:34,100 --> 00:08:37,100
because now, all of a sudden. 
So, so, hold on a second. 

164
00:08:37,100 --> 00:08:40,700
It's qualities are no longer the
compelling argument. 

165
00:08:40,799 --> 00:08:44,200
It can't stand on its own. 
So, oh now we bring in the 

166
00:08:44,200 --> 00:08:49,100
puppet show and they start to 
spin you a story of why it's 

167
00:08:49,100 --> 00:08:50,700
compelling. 
I don't know. 

168
00:08:50,700 --> 00:08:53,200
Look, I know you're a minor. 
This may not be like really on 

169
00:08:53,200 --> 00:08:55,100
topic for you. 
But do you have any? 

170
00:08:55,100 --> 00:08:58,900
You have any thoughts on this? 
II was talking about central 

171
00:08:58,900 --> 00:09:01,700
banks and the Fiat money printer
is. 

172
00:09:01,700 --> 00:09:06,000
So that's not an issue with me. 
I think it's pretty amazing that

173
00:09:06,000 --> 00:09:08,600
they admitted out loud. 
You know. 

174
00:09:08,600 --> 00:09:12,200
Surely they've known this for a 
very, very long time, right? 

175
00:09:12,200 --> 00:09:15,000
And surely this has been an 
internal position but actually 

176
00:09:15,000 --> 00:09:16,900
coming out and saying something 
like this. 

177
00:09:16,900 --> 00:09:18,800
I think is pretty bullish on 
bitcoin. 

178
00:09:19,100 --> 00:09:21,800
You know, most of the time what 
you get out of the fed or any 

179
00:09:21,800 --> 00:09:26,000
other Central Bank is guidance, 
right? 

180
00:09:26,100 --> 00:09:29,800
And and then of that, Any sense 
they say, Hey, you know, expect 

181
00:09:29,800 --> 00:09:32,200
us to do this in three months 
and then hey, expected through 

182
00:09:32,200 --> 00:09:34,900
this and six weeks and then it 
comes down to the time and they 

183
00:09:34,900 --> 00:09:37,400
don't do anything and nobody 
cares because they're on to the 

184
00:09:37,408 --> 00:09:41,400
next three months guidance. 
You know, there's, there's a lot

185
00:09:41,400 --> 00:09:44,200
of things like that happening 
and the FED where they just 

186
00:09:44,300 --> 00:09:46,200
don't manipulate the numbers so 
much. 

187
00:09:46,200 --> 00:09:48,800
And as this is why we need 
Bitcoin, you know, you don't 

188
00:09:48,800 --> 00:09:52,400
even get an actual unemployment 
number from the Federal Reserve,

189
00:09:52,400 --> 00:09:54,700
you get a number that's 
published and then that's revise

190
00:09:54,700 --> 00:09:57,100
that then that's revised again 
and then that's revised again. 

191
00:09:57,200 --> 00:09:59,900
By and by the time in three 
guys, three or four times, 

192
00:10:00,200 --> 00:10:02,300
nobody looks back on those 
revisions. 

193
00:10:02,300 --> 00:10:05,000
They're only looking at the one 
that's being published now. 

194
00:10:05,300 --> 00:10:09,300
And so, you know, they can say 
whatever they want, you know, in

195
00:10:09,300 --> 00:10:12,900
order to get those results, it 
doesn't have to be, you know, 

196
00:10:13,000 --> 00:10:18,000
true or realistic. 
They can do whatever they want. 

197
00:10:18,000 --> 00:10:21,000
So the to hear the Cat come out 
of the bag like that I think is,

198
00:10:21,300 --> 00:10:24,700
is pretty bullish smashed by 
Smith's first smash. 

199
00:10:24,700 --> 00:10:29,300
Smash Jen. 
Okay sorry Nico go on dude. 

200
00:10:29,300 --> 00:10:31,800
No, I look I think Ben said it 
beautifully. 

201
00:10:31,800 --> 00:10:35,100
I think that you know, the the 
Wizard of Oz analogy that I 

202
00:10:35,108 --> 00:10:37,900
always use, right? 
That the curtain is being 

203
00:10:37,900 --> 00:10:40,000
exposed behind there. 
There's just nothing. 

204
00:10:40,000 --> 00:10:43,800
There's just a dude. 
Pressing an old guy on a Windows

205
00:10:43,800 --> 00:10:48,100
1999, pressing the P button and 
yeah look it but they sure know 

206
00:10:48,100 --> 00:10:49,600
how to play percent, that's for 
sure. 

207
00:10:49,600 --> 00:10:50,900
Anyways. 
Phil what's the next family? 

208
00:10:52,200 --> 00:10:54,400
All right, you know, we're not 
going to stop. 

209
00:10:54,900 --> 00:10:58,400
Anyways, this is we were we were
tagged by Hands films in this 

210
00:10:58,400 --> 00:11:00,400
one again, right, he has been 
providing us. 

211
00:11:00,400 --> 00:11:03,700
Awesome, fail, stuff, follow 
hands. 

212
00:11:04,000 --> 00:11:06,300
Maybe I'll put as, yeah, I'll 
put this information in our in 

213
00:11:06,300 --> 00:11:08,500
the show notes. 
Okay, let's dive into this 

214
00:11:08,500 --> 00:11:12,300
terrible, ridiculous story, 
totally clickbait. 

215
00:11:12,400 --> 00:11:14,400
And of course, I had to click. 
So, here we go. 

216
00:11:15,200 --> 00:11:18,700
Because hands shared it with us.
So aetherium runs towards 

217
00:11:18,700 --> 00:11:23,900
deflation with upcoming updates,
leaving Bitcoin behind. 

218
00:11:24,300 --> 00:11:26,500
Oh yes, I'm sure it's leaving 
Bitcoin behind. 

219
00:11:26,500 --> 00:11:29,700
Here we go. 
Cerium is expected to become 

220
00:11:29,700 --> 00:11:33,500
deflationary after it leaves 
proof-of-work, and Mining behind

221
00:11:33,500 --> 00:11:37,200
and completely transitions to 
piece of shit proof of stake. 

222
00:11:37,300 --> 00:11:39,800
A staking protocol. 
The reason is that the 

223
00:11:39,800 --> 00:11:42,300
transition is expected to 
decrease the theorems issuance 

224
00:11:42,300 --> 00:11:47,300
rate by about 90% and ever since
the implementation of a theory 

225
00:11:47,300 --> 00:11:52,900
Improvement protocol 1559 as 
part of the London hard Fork, 

226
00:11:52,900 --> 00:11:58,000
the network has been burning the
near totality of its And fees. 

227
00:11:58,400 --> 00:12:03,400
The amount of eith issued is 
projected to drop by 90%. 

228
00:12:03,400 --> 00:12:04,200
You guys hear what I'm telling 
you. 

229
00:12:04,200 --> 00:12:05,500
These are amazing numbers, 
right? 

230
00:12:05,600 --> 00:12:07,500
Anybody who's anybody? 
Who's thinking about why? 

231
00:12:07,500 --> 00:12:09,100
That's awesome. 
Great. 

232
00:12:09,700 --> 00:12:11,900
You know, why not? 
Why not etherium, okay? 

233
00:12:12,200 --> 00:12:15,000
Anyways, obviously got me 
thinking, what the hell are they

234
00:12:15,000 --> 00:12:16,800
talking about? 
We all know that you can't 

235
00:12:16,800 --> 00:12:20,200
verify the circulating supply of
etherium, and we all know that 

236
00:12:20,200 --> 00:12:21,800
you can't verify the Mac Supply.
So look. 

237
00:12:21,800 --> 00:12:24,200
So I said I said, all right, 
let's just go dive into it. 

238
00:12:24,200 --> 00:12:27,200
Let's go take a look. 
What is what is being said? 

239
00:12:27,300 --> 00:12:29,600
Ed right now about the etherium 
max Supply. 

240
00:12:30,000 --> 00:12:31,700
Okay? 
So this article from January 

241
00:12:31,700 --> 00:12:35,700
24th 2021 as of the writing of 
this article, there are around a

242
00:12:35,700 --> 00:12:39,100
hundred and fourteen point, 
three million eith. 

243
00:12:39,100 --> 00:12:41,300
I don't know why, but I remember
them bragging about how there 

244
00:12:41,300 --> 00:12:44,600
was like 99 million. 
Anyways, it doesn't even make a 

245
00:12:44,608 --> 00:12:48,100
difference in circulation. 
This will keep changing and you 

246
00:12:48,100 --> 00:12:51,500
can verify the circulating 
Supply information on various 

247
00:12:51,500 --> 00:12:53,400
etherium block explorers and 
websites. 

248
00:12:53,400 --> 00:12:57,200
However, you'll never find out 
the max Supply. 

249
00:12:57,400 --> 00:13:01,800
Information and this this is 
true because they have no Max 

250
00:13:01,800 --> 00:13:04,700
apply. 
So this bullshit about being 

251
00:13:04,700 --> 00:13:07,300
deflationary is complete 
nonsense and now we're going to 

252
00:13:07,308 --> 00:13:10,900
defer to the white paper. 
So look anybody wants they can 

253
00:13:10,900 --> 00:13:13,700
definitely go take a look, try 
to find me a Mac Supply. 

254
00:13:13,700 --> 00:13:16,900
Number the the amount of 
gibberish that is in this white 

255
00:13:16,900 --> 00:13:20,000
paper is astounding. 
But the one thing that I was 

256
00:13:20,000 --> 00:13:24,600
able to show that made that that
made this extremely comical is 

257
00:13:24,600 --> 00:13:29,400
this freaking chart right here. 
They have no maximum Supply. 

258
00:13:30,000 --> 00:13:31,600
What kind of mental fuckery is 
this? 

259
00:13:33,100 --> 00:13:36,200
But what is this like is this a 
joke long-term inflation rate 

260
00:13:36,200 --> 00:13:39,700
for aetherium? 
But you have no Max Supply. 

261
00:13:40,700 --> 00:13:46,800
Yeah, I been do. 
They why do they want to cap it?

262
00:13:46,800 --> 00:13:48,900
I mean then they stopped their 
own money for a dress. 

263
00:13:50,500 --> 00:13:53,000
It's crazy. 
They make these claims, you 

264
00:13:53,000 --> 00:13:56,900
know, rhetorically hoping they 
can claim anything that they 

265
00:13:56,900 --> 00:14:00,900
want, you know, I actually 
started out with my new Theory 

266
00:14:00,900 --> 00:14:05,100
and I found out about Bitcoin 
way way earlier, but I thought I

267
00:14:05,108 --> 00:14:07,900
was too late and so when he 
Theory mm came out I said oh 

268
00:14:08,100 --> 00:14:10,000
Man, this is this is my second 
chance. 

269
00:14:10,000 --> 00:14:14,700
I started mining ether back in 
2015, but, you know, I quickly 

270
00:14:14,700 --> 00:14:18,900
learned the errors of my ways 
over a couple of years, but but 

271
00:14:18,900 --> 00:14:21,800
in my first couple of years, I 
was a pretty hard s guy and I 

272
00:14:21,800 --> 00:14:27,500
went to Defcon 2 in China and I 
remember people talking oh, the 

273
00:14:27,500 --> 00:14:29,200
switch to POS. 
It's happening. 

274
00:14:29,200 --> 00:14:32,100
It's right around the corner. 
I can't believe you still have F

275
00:14:32,100 --> 00:14:34,100
mining rigs. 
They're not going to be worth 

276
00:14:34,100 --> 00:14:37,900
anything by the end of 2016 
because POS is months away. 

277
00:14:38,200 --> 00:14:41,300
You know? 
And I was like, I said, the, I 

278
00:14:41,300 --> 00:14:45,000
can't believe you actually 
believe that but, you know, a 

279
00:14:45,000 --> 00:14:48,900
lot of, a lot of people did and 
the 480 gpus that I was running 

280
00:14:48,900 --> 00:14:50,900
on back, then can still runny 
theory of. 

281
00:14:50,900 --> 00:14:54,700
Now, six years later actually 
seven years after he threw him 

282
00:14:54,700 --> 00:14:58,100
once you can still my new theory
on the same gpus you did when we

283
00:14:58,100 --> 00:15:02,500
started, if you had good enough 
ones you know it's it's insane 

284
00:15:02,500 --> 00:15:06,100
to me. 
They're never ever going to 

285
00:15:06,100 --> 00:15:07,900
become a Bitcoin they're 
completely. 

286
00:15:08,100 --> 00:15:12,300
Different animal than Bitcoin. 
I consider the ethereum that we 

287
00:15:12,300 --> 00:15:15,200
work of crypto. 
You know, here's this. 

288
00:15:15,500 --> 00:15:18,100
Here's this thing. 
That looks awesome. 

289
00:15:18,200 --> 00:15:20,700
It looks cool. 
It looks revolutionary. 

290
00:15:20,700 --> 00:15:25,000
I want to be a part of it. 
I want to you know work here but

291
00:15:25,000 --> 00:15:28,900
none of the math works like the 
whole business model is failed. 

292
00:15:28,900 --> 00:15:32,500
Nothing is functioning, but they
can raise a lot of money on it 

293
00:15:32,500 --> 00:15:35,800
because it looks great and 
people want to be a part of what

294
00:15:35,800 --> 00:15:39,800
that looks like and so they As a
bunch of money saying, hey, we 

295
00:15:39,800 --> 00:15:44,200
understand, we know that doesn't
work now, but wait till we fix 

296
00:15:44,200 --> 00:15:49,000
it, wait till we make it all 
work and then imagine how 

297
00:15:49,000 --> 00:15:52,100
valuable this can be when 
everything works. 

298
00:15:52,500 --> 00:15:56,100
They never admit that, nothing 
works now. 

299
00:15:57,000 --> 00:16:00,400
Just imagine how value will be 
with if everything goes out, you

300
00:16:00,400 --> 00:16:03,200
know, and perfectly and that's 
how we work, raise a bunch of 

301
00:16:03,200 --> 00:16:06,800
money but you know, these all, 
all these things have to come 

302
00:16:06,800 --> 00:16:09,600
crashing down there. 
Uh, Sustainable projects over 

303
00:16:09,600 --> 00:16:13,100
the long term and eventually at 
some point people are going to 

304
00:16:13,108 --> 00:16:15,200
start realizing. 
Hey, they haven't delivered on 

305
00:16:15,200 --> 00:16:17,600
their promises, they're not 
delivering on their promises and

306
00:16:17,608 --> 00:16:20,300
they won't deliver on their 
promises. 

307
00:16:20,600 --> 00:16:23,300
And so if you think that, you 
know, he theorem is going to 

308
00:16:23,300 --> 00:16:26,200
replace AWS and that's what 
you're making your investment. 

309
00:16:26,300 --> 00:16:30,600
You know on it's never going to 
reach that stage. 

310
00:16:30,600 --> 00:16:35,200
So they'll kick the can down the
road indefinitely and continue 

311
00:16:35,200 --> 00:16:39,500
poww indefinitely because They 
never want to have that full 

312
00:16:39,500 --> 00:16:41,200
switch. 
The second that they fully 

313
00:16:41,200 --> 00:16:43,400
switched to POS. 
Everybody's going to say, wait a

314
00:16:43,408 --> 00:16:45,600
minute, this thing doesn't work.
I thought you said when we go 

315
00:16:45,600 --> 00:16:48,600
full, POS everything is going to
be amazing. 

316
00:16:48,600 --> 00:16:51,200
I do have the world's going to 
change, so they're never going 

317
00:16:51,200 --> 00:16:54,100
to get rid of pows because if 
they did then they'd have to 

318
00:16:54,108 --> 00:16:57,000
admit that they were wrong and 
everybody goes on to the next 

319
00:16:57,000 --> 00:17:00,000
thing. 
Yep, dude, hits and nailed, hit 

320
00:17:00,000 --> 00:17:02,800
the nail on the head and it's 
what I always say, guys, right? 

321
00:17:02,800 --> 00:17:05,800
Like, you know, and use the term
band, right? 

322
00:17:05,800 --> 00:17:07,300
Kick. 
The Can down the road, and why 

323
00:17:07,300 --> 00:17:08,400
is that? 
Right? 

324
00:17:08,400 --> 00:17:13,000
Because B only Bitcoin has 
figured out how to separate the 

325
00:17:13,000 --> 00:17:16,099
monetary policy out of the hands
of human beings, right? 

326
00:17:16,200 --> 00:17:18,599
And with all these should coins,
including a theory of the 

327
00:17:18,599 --> 00:17:22,200
monetary policy can be 
manipulated by human beings, 

328
00:17:22,200 --> 00:17:24,200
right? 
So you see the same type of 

329
00:17:24,200 --> 00:17:26,900
behavior in the beginning, it's 
like yeah, it starts with good 

330
00:17:26,900 --> 00:17:29,200
intentions, right. 
But it's like, but we could just

331
00:17:29,200 --> 00:17:31,200
print a little bit more money, 
right? 

332
00:17:31,200 --> 00:17:34,000
So I think that's the, I think 
that's the problem with the 

333
00:17:34,000 --> 00:17:35,300
theorem. 
I completely agree. 

334
00:17:35,300 --> 00:17:38,400
It's a giant scam. 
And I think, you know, Bitcoin 

335
00:17:38,400 --> 00:17:41,000
really does fix this. 
But anyways, Phil it's time for 

336
00:17:41,100 --> 00:17:45,000
the daily meme review, brought 
to you by Citadel 21. 

337
00:17:45,000 --> 00:17:48,700
It's the best Bitcoin cultural 
zeenat stories articles Comics 

338
00:17:48,700 --> 00:17:51,600
by actual bitcoiners. 
Every volume has different 

339
00:17:51,600 --> 00:17:54,900
artwork by bitcoiners. 
Of course, Bitcoin artists and 

340
00:17:54,900 --> 00:17:58,700
their scarce is only 1000, 
physical copies made per volume.

341
00:17:58,700 --> 00:18:01,700
Get your print of Citadel 21 
today, right? 

342
00:18:01,700 --> 00:18:05,200
Everybody first meme is brought 
To Us by descent iPod circus 

343
00:18:05,200 --> 00:18:07,200
came from or group by the way, 
mr. 

344
00:18:07,200 --> 00:18:08,500
Potter's in our Yup. 
That's right. 

345
00:18:08,500 --> 00:18:10,700
And that's where he posted it. 
So out to the plebs. 

346
00:18:10,700 --> 00:18:14,200
All right, let me zoom out. 
It's you know, it's a classic. 

347
00:18:14,200 --> 00:18:16,700
You'll nothing you'll be happy. 
You'll have fun. 

348
00:18:16,700 --> 00:18:19,700
Staying poor, and you'll be 
happy absolutely hilarious very 

349
00:18:19,700 --> 00:18:21,700
well done. 
All right, shout out to the 

350
00:18:21,700 --> 00:18:23,700
plebs. 
Alright, next one is by t.k., 

351
00:18:24,200 --> 00:18:26,000
first day of homeschooling 
everything. 

352
00:18:26,000 --> 00:18:30,000
The state says, is a lie and 
everything it has is it has 

353
00:18:30,000 --> 00:18:33,800
stolen. 
Come on kids, let's take it 

354
00:18:33,800 --> 00:18:34,400
back. 
Really happy. 

355
00:18:34,400 --> 00:18:37,600
Learning that they do, they do. 
Oh you guys then this one's 

356
00:18:37,600 --> 00:18:38,500
perfect. 
Fect for you. 

357
00:18:39,200 --> 00:18:44,300
Ok, its an S 9, okay, best use 
case for transhumanism. 

358
00:18:44,700 --> 00:18:49,100
If I could just reach zero, as 
it Outlets, you will mind 

359
00:18:49,100 --> 00:18:52,600
nothing and you'll be poor. 
Come on Hon. 

360
00:18:52,600 --> 00:18:56,000
Cogan, that was awesome. 
All right, next one is by its by

361
00:18:56,000 --> 00:18:59,300
add maximum, if I had to do it 
Bitcoin measured in Peaks has 

362
00:18:59,300 --> 00:19:03,700
2010 verse. 20 20, 20 22 2010 
10,000 Bitcoins into pieces. 

363
00:19:04,900 --> 00:19:09,600
10,000 Bitcoin 324,000. 
Peaks has no. 

364
00:19:09,600 --> 00:19:11,100
Wait. 
That's 10 BTC. 

365
00:19:11,300 --> 00:19:13,000
Isn't that 10 B? 
TC is it? 

366
00:19:13,000 --> 00:19:15,900
No, it's ten thousands and 
thousands and thousands of the 

367
00:19:15,900 --> 00:19:19,000
original price. 
I think 10,000 Bitcoin could buy

368
00:19:19,000 --> 00:19:21,600
you a lot more pieces. 
Yeah, bring the math. 

369
00:19:21,600 --> 00:19:24,800
That math is wrong. 
Anyways maybe should be like 30 

370
00:19:24,800 --> 00:19:28,300
million or something and more 
than pizza anyway, press and 

371
00:19:28,300 --> 00:19:28,900
fish. 
Okay. 

372
00:19:28,900 --> 00:19:31,500
So fill already went this in the
fail but we're not going to do 

373
00:19:31,500 --> 00:19:32,500
that. 
We're going to do is we're going

374
00:19:32,500 --> 00:19:36,500
to review the memes in the We 
had. 

375
00:19:36,500 --> 00:19:39,900
So this is you know the the 
Central Banking this is a to 

376
00:19:39,900 --> 00:19:41,600
decorated toxic Bitcoin, ER 
roll. 

377
00:19:41,600 --> 00:19:43,100
Please use our currency. 
Come on. 

378
00:19:43,100 --> 00:19:45,800
It's the reserve with full faith
and credit please, bro, come on,

379
00:19:45,800 --> 00:19:50,600
it's table. 
I serve is rough, that's really 

380
00:19:50,600 --> 00:19:51,500
good. 
All right. 

381
00:19:51,500 --> 00:19:53,900
Next one, we reviewed this one 
by rally, but just to kind of 

382
00:19:53,908 --> 00:19:55,700
give you guys a repop, this is a
dead ski this. 

383
00:19:55,700 --> 00:19:57,600
The Dead Sea. 
It is this Salty's place on 

384
00:19:57,600 --> 00:20:03,500
Earth second only to Peter shift
and then the scroll down Peter 

385
00:20:03,500 --> 00:20:06,500
Golem from the darkest, saltiest
steps of the earth formerly 

386
00:20:06,500 --> 00:20:10,300
known as per Terkel until he was
completely corrupted by gold. 

387
00:20:13,700 --> 00:20:15,300
Very, very nice. 
Very, very nice. 

388
00:20:15,300 --> 00:20:18,000
Anyways, for those means, I'm 
gonna let you know what, no, 

389
00:20:18,000 --> 00:20:22,000
because okay, I'm gonna give it 
Phil very, very good score. 

390
00:20:22,400 --> 00:20:26,700
A lot of thought into this. 
It's an empty water bottle been.

391
00:20:26,900 --> 00:20:34,200
But would you give those memes? 
I pick up one but probably a 

392
00:20:34,200 --> 00:20:37,100
Bitcoin mining right behind me. 
Yep, Bitcoin mining rake. 

393
00:20:37,100 --> 00:20:38,700
This is true that signal right 
there. 

394
00:20:38,700 --> 00:20:41,500
Anyway, silver had the rake, 
we've never had the right, Phil?

395
00:20:41,700 --> 00:20:46,600
What would you give those memes?
All right, I am giving it this 

396
00:20:47,100 --> 00:20:49,800
very special, very special to my
favorite. 

397
00:20:49,800 --> 00:20:52,300
Ripping dip sticker. 
That I have see what the cat 

398
00:20:52,300 --> 00:20:54,200
saying. 
Yeah, yeah. 

399
00:20:54,300 --> 00:20:56,300
Fuck you too. 
Phil fuck you too. 

400
00:20:57,400 --> 00:20:59,000
Anyways, guys, we want to know 
if you agree. 

401
00:20:59,100 --> 00:21:01,600
Grew their scores disagree. 
Let us know down in the comments

402
00:21:01,600 --> 00:21:04,200
section and make sure to 
subscribe to us on alternative 

403
00:21:04,200 --> 00:21:06,200
video platforms. 
Because we do talk shit about 

404
00:21:06,200 --> 00:21:08,800
the world economic Forum like 
Rumble.com and a personal 

405
00:21:08,800 --> 00:21:10,800
favorite Bitcoin tv.com. 
They don't censor their because 

406
00:21:10,800 --> 00:21:13,400
Bitcoin TV and join our telegram
group linked us some tank tank 

407
00:21:13,400 --> 00:21:16,400
tank Bitcoin meme serve you. 
But anyways Phil it's time for 

408
00:21:16,400 --> 00:21:20,700
the Daily News brought to you by
crypto cloaks.com they make the 

409
00:21:20,700 --> 00:21:24,600
best 3D printed Bitcoin merch 
like the famous 3D printed 

410
00:21:24,700 --> 00:21:27,500
Bitcoin art sculpture opens up. 
You put your favorite Hardware 

411
00:21:27,500 --> 00:21:30,100
wallet in there. 
Also you At this, in any custom 

412
00:21:30,100 --> 00:21:32,400
color, your heart desires. 
You want to make this orange, 

413
00:21:32,400 --> 00:21:34,400
you could do that. 
This just happens to be in the 

414
00:21:34,400 --> 00:21:37,000
cover of El Salvador. 
And you can take advantage of 

415
00:21:37,000 --> 00:21:40,000
the link down below for 5% off. 
Anything off the crypto 

416
00:21:40,000 --> 00:21:43,800
cloaks.com online store. 
All right so we're going to talk

417
00:21:43,800 --> 00:21:45,600
about mining stuff we've been 
today. 

418
00:21:45,600 --> 00:21:48,700
But there was just so many 
nuclear bombs of news that we 

419
00:21:48,700 --> 00:21:50,600
are going to talk about mining. 
We're going to get to that, 

420
00:21:50,600 --> 00:21:52,100
right? 
Huge announcement today. 

421
00:21:52,200 --> 00:21:54,700
But first I want to get Ben's 
thoughts on this. 

422
00:21:54,900 --> 00:21:58,400
This was a very big deal, right?
So US Senate, to consider Bill 

423
00:21:58,400 --> 00:22:00,300
exam. 
Earning El, Salvador Bitcoin 

424
00:22:00,300 --> 00:22:05,500
experiment, think about how 
crazy that is for a second, a 

425
00:22:05,500 --> 00:22:10,200
sovereign country passed a bill.
The president has an 80% 

426
00:22:10,200 --> 00:22:14,200
approval parading and they pass 
it through their legislator and 

427
00:22:14,200 --> 00:22:19,100
the United States is somehow 
passing a bill to examine if 

428
00:22:19,100 --> 00:22:22,400
that's okay. 
That isn't colonialism. 

429
00:22:22,400 --> 00:22:24,500
I don't know what is. 
Anyways, the article goes on to 

430
00:22:24,500 --> 00:22:28,300
say the full, the full US Senate
will vote on a bill, looking to 

431
00:22:28,300 --> 00:22:30,400
mitigate the To the US Financial
system. 

432
00:22:30,900 --> 00:22:32,200
That's the Ferrari and sleep, 
huh? 

433
00:22:32,700 --> 00:22:35,900
From El Salvador's adoption of 
Bitcoin as legal tender after 

434
00:22:35,900 --> 00:22:37,700
the bill was passed out of 
committee, Wednesday, 

435
00:22:38,100 --> 00:22:41,300
accountability for 
cryptocurrency and El Salvador's

436
00:22:41,300 --> 00:22:43,900
act, and it's bipartisan. 
I might add, it's a Republican 

437
00:22:43,900 --> 00:22:46,800
party and the Democratic party. 
And this is a quote from one of 

438
00:22:46,800 --> 00:22:50,100
the Senators as El Salvador has 
adopted Bitcoin as legal tender.

439
00:22:50,100 --> 00:22:52,300
It's important, we understand 
and mitigate potential risks to 

440
00:22:52,300 --> 00:22:55,900
the US Financial system. 
So the US dollar the US dollar 

441
00:22:56,200 --> 00:22:58,400
which is politicians benefit 
from, I don't think the 

442
00:22:58,400 --> 00:23:00,200
financial resources Whatever. 
Anyways, he added that 

443
00:23:00,200 --> 00:23:02,400
legislation would require the 
state and treasury Department's 

444
00:23:02,400 --> 00:23:05,800
among other federal agencies to 
mitigate risks such as potential

445
00:23:05,800 --> 00:23:08,500
empowerment of China, and 
organized criminal 

446
00:23:08,500 --> 00:23:11,600
organizations. 
Who the bill would also asked 

447
00:23:11,600 --> 00:23:14,500
the u.s. to monitor remittances 
from El Salvador, it's so fucked

448
00:23:14,500 --> 00:23:18,300
up because Bitcoin, not the 
commodity, but the rails is 

449
00:23:18,300 --> 00:23:20,200
saving, we already know this. 
It's going to say Val 

450
00:23:20,200 --> 00:23:22,700
salvadorians tens of millions of
dollars and remittance. 

451
00:23:22,700 --> 00:23:25,500
He's over in remittance fees 
alone, this is the president 

452
00:23:25,500 --> 00:23:28,200
president named buchelli 
responding to that, and he has a

453
00:23:28,200 --> 00:23:30,100
screen shots of Bill, which will
put that in the link 

454
00:23:30,100 --> 00:23:32,100
description. 
He says, never in my wildest 

455
00:23:32,100 --> 00:23:35,400
dreams would I have thought the 
US government would be afraid of

456
00:23:35,400 --> 00:23:37,600
what we are doing here. 
It's so true. 

457
00:23:37,700 --> 00:23:40,400
Right? 
The US government does not stand

458
00:23:40,400 --> 00:23:42,800
for freedom and that is a proven
fact. 

459
00:23:42,800 --> 00:23:46,500
So we will stand for Freedom 
game on bitcoin is Fu money. 

460
00:23:46,500 --> 00:23:49,800
Now, check this out, this is so 
maniacal and fucked up in so 

461
00:23:49,800 --> 00:23:52,300
many different ways. 
I don't even know what to say. 

462
00:23:52,500 --> 00:23:54,300
He definitely sniff his own 
farts. 

463
00:23:54,300 --> 00:23:57,200
For sure, how do I know that he 
puts his credentials? 

464
00:23:57,500 --> 00:24:01,900
Not even in the bayou, In his 
name himself, US, senator Bill, 

465
00:24:01,900 --> 00:24:05,300
Cassie empty. 
Anyways Salvadoran residents in 

466
00:24:05,300 --> 00:24:07,700
the United States. 
Don't like this policy, we're 

467
00:24:08,100 --> 00:24:10,400
we're being responsive to their 
concerns. 

468
00:24:12,100 --> 00:24:16,200
The dude has an 80% approval 
rating, and this guy has the 

469
00:24:16,200 --> 00:24:20,200
fucking Gaul to say not only in 
English, but in Spanish to this 

470
00:24:20,200 --> 00:24:21,600
motherfucker doesn't speak 
Spanish. 

471
00:24:21,700 --> 00:24:24,000
Anyways, perhaps they don't 
trust the president who brags 

472
00:24:24,000 --> 00:24:27,600
about trading Bitcoin, naked? 
Oh, of course he got totally 

473
00:24:27,600 --> 00:24:30,400
demolished in the comment 
section will put it down below 

474
00:24:30,400 --> 00:24:32,400
so you guys can check it out. 
This is what gladstein had to 

475
00:24:32,400 --> 00:24:36,100
say, glassing thinks, the Senate
is pursuing the legislation 

476
00:24:36,100 --> 00:24:39,300
because it's worried El Salvador
is directing directly. 

477
00:24:39,300 --> 00:24:43,200
Providing a parallel structure 
to the Sing way foreign aid and 

478
00:24:43,200 --> 00:24:47,500
monetary system is given. 
I'm gonna scratch out for an 8 

479
00:24:47,500 --> 00:24:49,700
and monetary system and I'm 
going to just replace it with 

480
00:24:49,700 --> 00:24:52,800
control, right? 
He added that the bill seems 

481
00:24:52,800 --> 00:24:56,200
designed to force the state 
department to cast aspirations 

482
00:24:56,300 --> 00:25:00,900
on El Salvador's Bitcoin plants.
And remember what we always say,

483
00:25:00,900 --> 00:25:04,900
right, is that Bitcoin shines a 
light of Truth and it's doing 

484
00:25:04,900 --> 00:25:07,000
exactly that here. 
Anyways, been, what are your 

485
00:25:07,000 --> 00:25:09,200
thoughts on? 
This is just crazy, dude, it's 

486
00:25:09,200 --> 00:25:11,400
just revealing so many things 
that we need. 

487
00:25:11,500 --> 00:25:14,000
Ooh, that were there, but there 
is no way to prove it. 

488
00:25:14,700 --> 00:25:18,500
Oh, for sure, I mean to say 
right there that El Salvador's 

489
00:25:18,500 --> 00:25:21,600
decline strategy as a threat to 
the United States, obviously, 

490
00:25:21,600 --> 00:25:23,400
has a lot of bigger 
implications. 

491
00:25:23,400 --> 00:25:26,200
I just did some quick doodling 
while you were going through 

492
00:25:26,200 --> 00:25:29,800
that mean, El Salvador's GDP is 
25 billion. 

493
00:25:30,100 --> 00:25:35,000
The world's GDP is 84 trillion. 
You know, El Salvador relative 

494
00:25:35,000 --> 00:25:40,400
to the world, is a fraction of 
1% you know to think that what 

495
00:25:40,400 --> 00:25:43,700
they do there. 
It threatened, the US Financial 

496
00:25:43,700 --> 00:25:47,600
system is a joke, you know, the 
only thing that they're doing 

497
00:25:47,600 --> 00:25:50,500
there is they're setting the, 
they're being the first person 

498
00:25:50,500 --> 00:25:52,900
there being leading the way 
they're leading the charge. 

499
00:25:53,000 --> 00:25:55,200
And obviously what the US is 
afraid of, it's not afraid of 

500
00:25:55,200 --> 00:25:58,000
what El Salvador is doing its 
afraid of what all the other 

501
00:25:58,000 --> 00:26:01,400
countries are going to do when 
they adopt Bitcoin. 

502
00:26:01,400 --> 00:26:05,000
And I'm personally of the belief
that I don't think it's going to

503
00:26:05,000 --> 00:26:07,500
be the country that run their 
own money, printers that are 

504
00:26:07,508 --> 00:26:09,200
going to be the first to adopt 
Bitcoin. 

505
00:26:09,500 --> 00:26:11,300
I think it's going to be the 
countries that are dollar. 

506
00:26:11,500 --> 00:26:14,200
Sized. 
So there are 30 40 odd countries

507
00:26:14,200 --> 00:26:19,000
in the world that use u.s. 
dollars for their main currency 

508
00:26:19,300 --> 00:26:22,800
and they did it for two reasons.
One, they knew that if they did 

509
00:26:22,800 --> 00:26:25,300
it themselves, it would be 
corrupted and it would be 

510
00:26:25,300 --> 00:26:27,900
printed to nothing and become 
worthless and to they wanted 

511
00:26:27,900 --> 00:26:29,700
something that was accepted 
everywhere. 

512
00:26:30,100 --> 00:26:33,000
But, you know, this isn't 40. 50
years ago, the world is 

513
00:26:33,000 --> 00:26:35,900
completely changed. 
And, you know, now they have the

514
00:26:35,900 --> 00:26:39,500
ability to do what they wanted 
to do, originally by adopting a 

515
00:26:39,500 --> 00:26:44,400
Bitcoin standard and saying, 
hey, You know, the u.s. is 

516
00:26:44,900 --> 00:26:47,200
corrupt Federal Reserve and 
their printing money and we have

517
00:26:47,200 --> 00:26:49,800
no control over financial 
responsibilities and our 

518
00:26:49,800 --> 00:26:52,000
financial system. 
Why don't we adopt a Bitcoin 

519
00:26:52,000 --> 00:26:55,600
standard where you can't be 
corrupted and to its accepted 

520
00:26:55,600 --> 00:26:58,800
everywhere. 
So, you know, this is a, this is

521
00:26:58,800 --> 00:27:01,500
a logical transition. 
I think for these dollarized 

522
00:27:01,500 --> 00:27:04,300
countries to take back, a lot of
sovereign tree and I think that 

523
00:27:04,300 --> 00:27:07,000
scares the u.s. a lot. 
Yeah, absolutely. 

524
00:27:07,000 --> 00:27:08,300
Phil. 
What are your thoughts on this? 

525
00:27:09,400 --> 00:27:13,700
I just think it's hilarious 
because the, the essentially, 

526
00:27:13,700 --> 00:27:17,200
the US government thinks that 
this matters like and I know in 

527
00:27:17,200 --> 00:27:19,600
their minds that this is 
incredibly important in this 

528
00:27:19,600 --> 00:27:21,100
matters but you said it right 
there. 

529
00:27:21,100 --> 00:27:24,400
I mean look at the GDP compared 
you know of El Salvador compared

530
00:27:24,400 --> 00:27:27,700
to the world I mean they are a 
speck really? 

531
00:27:27,700 --> 00:27:33,300
I you know on the map on the 
heat map and they are you know 

532
00:27:33,300 --> 00:27:37,100
how can I say this it's like a 
massive microscope on them. 

533
00:27:37,200 --> 00:27:38,800
Right. 
Because they are doing this. 

534
00:27:39,200 --> 00:27:42,000
It's dangerous, foolish, Bitcoin
experiment. 

535
00:27:42,400 --> 00:27:46,400
I mean, look who decided that 
there was only one organization 

536
00:27:46,600 --> 00:27:48,100
that you can go and get money 
from. 

537
00:27:48,100 --> 00:27:50,300
I mean, you know, I've mentioned
this in the past and it's not 

538
00:27:50,300 --> 00:27:52,700
just me people, you know, people
way smarter than me have 

539
00:27:52,700 --> 00:27:55,800
mentioned this before. 
The SDR is this fake money that 

540
00:27:55,800 --> 00:27:59,200
the IMF uses to essentially 
enslave all these countries 

541
00:27:59,200 --> 00:28:01,400
under the guise of financial 
aid. 

542
00:28:01,400 --> 00:28:03,500
All will just give you a longer 
term to pay it back. 

543
00:28:03,800 --> 00:28:05,900
These people are completely 
insane. 

544
00:28:06,000 --> 00:28:07,900
Bitcoin is a fantastic parallel 
system. 

545
00:28:07,900 --> 00:28:11,800
El Salvador should And percent 
be cheered on to attempt a 

546
00:28:11,800 --> 00:28:14,300
parallel system. 
We should, we should all be 

547
00:28:14,300 --> 00:28:17,200
really excited. 
But for some reason, our there's

548
00:28:17,200 --> 00:28:21,100
a large group of people where 
their incentives are just to be.

549
00:28:21,100 --> 00:28:23,100
I don't know, I don't know how 
to say it, other than evil and I

550
00:28:23,100 --> 00:28:25,200
know Nico is right about saying,
you know, not everybody's just 

551
00:28:25,200 --> 00:28:27,000
sitting there with like, you 
know, twirling their mustaches 

552
00:28:27,000 --> 00:28:30,400
being evil but I honestly think 
that somehow there's some level 

553
00:28:30,400 --> 00:28:31,600
of mental Fakhri. 
Okay. 

554
00:28:31,600 --> 00:28:33,000
Yeah, it's happening. 
Okay. 

555
00:28:33,000 --> 00:28:36,500
And they're like, yes, you know,
I want to I want to support this

556
00:28:36,500 --> 00:28:39,000
system because it's good for me 
and screw these. 

557
00:28:39,200 --> 00:28:42,100
People, even though I know that 
what they're doing is perfectly 

558
00:28:42,100 --> 00:28:43,600
fine and probably the right 
thing. 

559
00:28:44,000 --> 00:28:47,600
Yeah, I do think that there's 
people out there, dude, but it's

560
00:28:47,600 --> 00:28:50,400
not Klaus Schwab every 
definitely other people. 

561
00:28:51,000 --> 00:28:53,200
Anyways, we got very, very lucky
guys. 

562
00:28:53,200 --> 00:28:58,300
I'll be honest with you because 
this is a nuclear bomb, we've 

563
00:28:58,300 --> 00:29:02,100
predicted this for months now. 
It was inevitable that Gas and 

564
00:29:02,100 --> 00:29:04,100
energy. 
Companies were going to get into

565
00:29:04,100 --> 00:29:07,100
Bitcoin mining. 
The incentives are irresistible.

566
00:29:07,400 --> 00:29:11,000
And we got very lucky because 
Ben Then came on the show when 

567
00:29:11,000 --> 00:29:14,300
this news drops. 
So this is absolutely Bonkers. 

568
00:29:14,300 --> 00:29:15,800
We're going to get his comments 
in a little bit. 

569
00:29:15,800 --> 00:29:18,900
I'm going to read some of the 
article says is by Bloomberg 

570
00:29:18,900 --> 00:29:22,600
Exxon ways taking gas to bitcoin
pilot countries. 

571
00:29:22,700 --> 00:29:26,100
So absolutely crazy ExxonMobil 
is running which is one of the 

572
00:29:26,300 --> 00:29:29,700
you know one of the biggest 
energy companies in the world. 

573
00:29:29,800 --> 00:29:32,900
Exxon Mobil Corp is running a 
pilot program using excess 

574
00:29:32,900 --> 00:29:36,300
natural gas that would otherwise
be burned off from North Dakota 

575
00:29:36,300 --> 00:29:38,100
oil wells to power 
cryptocurrency mining 

576
00:29:38,100 --> 00:29:40,400
operations. 
Considering doing the same at 

577
00:29:40,400 --> 00:29:43,000
other sites around the globe 
according to people familiar 

578
00:29:43,000 --> 00:29:46,000
with the matter. 
The oil giant has an agreement 

579
00:29:46,000 --> 00:29:48,500
with kurisu Energy Systems to 
take gas from oil. 

580
00:29:48,500 --> 00:29:51,900
Well, pad in the Bakken Shale 
base into Power, mobile 

581
00:29:51,900 --> 00:29:54,900
generators used to run Bitcoin, 
mining servers on site. 

582
00:29:54,900 --> 00:29:57,900
Said the people who asked to not
be named because the information

583
00:29:57,900 --> 00:30:01,300
is in public, the pilot program 
which launched in January 2021 

584
00:30:01,400 --> 00:30:04,400
and expanded in. 
July used up to 80 million cubic

585
00:30:04,400 --> 00:30:07,400
feet of gas per month. 
That would have otherwise been 

586
00:30:07,400 --> 00:30:10,200
burned off or flared. 
Because there aren't enough 

587
00:30:10,200 --> 00:30:13,300
pipelines. 
So all the fucking green people 

588
00:30:13,400 --> 00:30:15,800
that are talking shit. 
There you go. 

589
00:30:15,900 --> 00:30:19,800
Anyways X on the largest US oil 
producer is considered similar 

590
00:30:19,800 --> 00:30:23,500
pilots in Alaska. 
The coup Weber terminal Nigeria 

591
00:30:23,500 --> 00:30:27,700
Argentina's back on Martha shell
filled with Jana and Germany. 

592
00:30:27,700 --> 00:30:30,600
One of the one of the people 
said we this is a quote for I'm 

593
00:30:30,600 --> 00:30:35,500
sure spokesperson the from axons
as we continuously evaluate 

594
00:30:35,500 --> 00:30:38,100
emerging Technologies aimed at 
reducing flared. 

595
00:30:38,400 --> 00:30:41,100
Flared. 
Across our operations and Exxon 

596
00:30:41,100 --> 00:30:44,900
expects to meet the world bank's
call to and routine flaring by 

597
00:30:44,900 --> 00:30:48,100
2030. 
Because Bitcoins spokesman Sarah

598
00:30:48,100 --> 00:30:50,800
Norton said in an email. 
She declined to comment on 

599
00:30:50,800 --> 00:30:53,300
rumors and speculations 
regarding the pilot program 

600
00:30:53,600 --> 00:30:57,900
pilot project. 
So Ben I think this is huge but 

601
00:30:57,900 --> 00:31:00,400
I'm just a humble pleb. 
What are your thoughts on this? 

602
00:31:02,100 --> 00:31:04,500
It makes perfect sense. 
The flare gas, mitigation thing 

603
00:31:04,500 --> 00:31:09,000
is, I think the nail in the 
coffin for a lot. 

604
00:31:09,100 --> 00:31:12,900
Of these ESG Fudd that we hear 
coming out about about Bitcoin 

605
00:31:12,900 --> 00:31:15,500
mining. 
I was before I joined this on so

606
00:31:15,500 --> 00:31:20,000
is actually in Alberta selling 
containerized Bitcoin Minds to 

607
00:31:20,000 --> 00:31:23,000
oil and gas companies 
specifically for this purpose 

608
00:31:23,000 --> 00:31:26,500
back in 2018 and 2019 when this 
wasn't really a big thing. 

609
00:31:27,600 --> 00:31:30,400
But you know, I'd go in and 
speak with some of these large 

610
00:31:30,800 --> 00:31:34,300
oil and gas companies and you 
show them the math and over time

611
00:31:34,300 --> 00:31:38,000
they start to understand it or 
you show them, you know, they're

612
00:31:38,000 --> 00:31:41,300
their unit of gas. 
That mmps is going to go for you

613
00:31:41,300 --> 00:31:44,400
know, back then it was about to 
Canadian dollars. 

614
00:31:44,800 --> 00:31:48,500
But you convert that into 
Bitcoin and you're getting $25 

615
00:31:48,500 --> 00:31:52,100
out of that, same unit of gas, 
why do you want to sell your gas

616
00:31:52,100 --> 00:31:56,200
to the market for two dollars 
when you can sell it to bitcoin 

617
00:31:56,300 --> 00:32:00,800
for $25? 
You know it's a huge increase, 

618
00:32:00,800 --> 00:32:03,800
it takes investment and it 
takes, you know, capex and 

619
00:32:03,800 --> 00:32:07,400
operations and everything else. 
But Bitcoin is a much more 

620
00:32:07,400 --> 00:32:10,600
valuable energy market for gas. 
Gasps and the flared gas 

621
00:32:10,600 --> 00:32:14,200
situation is particularly 
interesting because this is 

622
00:32:14,200 --> 00:32:16,300
marginal cost energy. 
You know. 

623
00:32:16,300 --> 00:32:20,000
This is an energy asked that 
that was completely written off 

624
00:32:20,000 --> 00:32:21,800
on the book. 
This never being able to be 

625
00:32:21,800 --> 00:32:26,000
monetized or used or stored 
properly great cost effectively 

626
00:32:26,500 --> 00:32:30,300
and so Bitcoin comes in here. 
We monetize this asset at 

627
00:32:30,300 --> 00:32:35,500
marginal cost electricity that 
means that all those old S9, 

628
00:32:35,500 --> 00:32:39,600
scan, all can just be redeployed
into flare gas, mitigation What 

629
00:32:39,600 --> 00:32:41,600
does that do? 
Well, that extends the useful 

630
00:32:41,600 --> 00:32:45,200
lifespan of that equipment which
is already at seven years. 

631
00:32:45,400 --> 00:32:50,300
No, it's already at seven 
profitable years for an S9, 

632
00:32:50,300 --> 00:32:53,800
depending on where you are and 
extends out lifespan out for 

633
00:32:53,800 --> 00:32:56,100
years. 
It drastically reduces the cost 

634
00:32:56,100 --> 00:32:59,700
of oil and gas companies because
they're buying cheaper used 

635
00:32:59,700 --> 00:33:02,200
equipment that's appreciated in 
value. 

636
00:33:02,500 --> 00:33:05,800
Which means that they spend less
per site and they can reduce 

637
00:33:05,800 --> 00:33:09,900
more flare gas across more sites
across all the world with the 

638
00:33:09,900 --> 00:33:12,400
same amount of capital. 
I mean, this is a really really 

639
00:33:12,400 --> 00:33:15,500
game-changing thing. 
And if you want to, you know, 

640
00:33:15,500 --> 00:33:18,900
talk about reducing emissions, 
which I think is a bunch of 

641
00:33:18,900 --> 00:33:21,100
nonsense. 
But if you, if that's your goal,

642
00:33:21,400 --> 00:33:25,000
if your goal is to reduce 
emissions, absolutely, there is 

643
00:33:25,000 --> 00:33:27,700
no better technology on the 
planet than Bitcoin mining 

644
00:33:27,700 --> 00:33:32,000
through flare gas because every 
other technology in the planet 

645
00:33:32,000 --> 00:33:35,300
requires private subsidy in 
order to make it or government 

646
00:33:35,300 --> 00:33:37,400
subsidies in order to make it 
economical. 

647
00:33:37,600 --> 00:33:40,600
This is the only technology. 
In the world that provides an 

648
00:33:40,600 --> 00:33:44,700
economic incentives to producers
all over the world to directly 

649
00:33:44,700 --> 00:33:46,900
reduce their emissions and 
profit as a result. 

650
00:33:46,900 --> 00:33:50,200
The only one so there's no 
better technology on the planet 

651
00:33:50,200 --> 00:33:52,500
for reducing emissions 
beautiful. 

652
00:33:52,600 --> 00:33:57,200
Phil are used militias I am bro.
Yes, definitely. 

653
00:33:57,200 --> 00:33:59,800
Okay, so look. 
So we've got let's take a look 

654
00:33:59,800 --> 00:34:02,200
at this from like a slightly 
different, slightly different 

655
00:34:02,200 --> 00:34:05,300
angle and definitely much less 
knowledgeable about mining but 

656
00:34:05,300 --> 00:34:07,200
just the overall social picture,
right? 

657
00:34:07,400 --> 00:34:10,699
So we've got, we've got 
Governments trying to fight 

658
00:34:10,699 --> 00:34:11,600
Bitcoin. 
Okay? 

659
00:34:11,600 --> 00:34:14,000
And we've got all this 
quote-unquote legislation trying

660
00:34:14,000 --> 00:34:17,900
to push Bitcoin out but yet but 
yet we've got Intel that with 

661
00:34:17,900 --> 00:34:21,400
the, you know, that we announced
last week that was announced 

662
00:34:21,400 --> 00:34:24,800
that they're going to be joining
the mining game right by 

663
00:34:24,800 --> 00:34:29,199
creating their own version of 
Asics and now we've got 

664
00:34:29,199 --> 00:34:33,900
ExxonMobil right announcing 
publicly that they've been doing

665
00:34:33,900 --> 00:34:37,300
this pilot project now since 
January 2021. 

666
00:34:37,800 --> 00:34:40,500
So look. 
Big corporations suppose, 

667
00:34:40,500 --> 00:34:43,000
telling Eco before the show, big
corporations, don't move quick. 

668
00:34:43,000 --> 00:34:44,800
They move very slowly. 
Okay? 

669
00:34:44,800 --> 00:34:47,900
And they don't often take these 
types of risk, especially not 

670
00:34:47,900 --> 00:34:51,400
this type of this type of 
business, okay? 

671
00:34:51,400 --> 00:34:55,100
Like especially not something 
like ExxonMobil necessarily or 

672
00:34:55,100 --> 00:34:57,700
Intel for that matter. 
So for them to be diving into 

673
00:34:57,700 --> 00:35:00,300
this, they've done their due 
diligence, they figured out 

674
00:35:00,300 --> 00:35:03,600
their numbers and they've 
realized like look, regardless 

675
00:35:03,600 --> 00:35:06,100
of what we're seeing in terms of
the news with the, you know, the

676
00:35:06,100 --> 00:35:08,800
maintenance re the corporate 
owned media and all the BS that 

677
00:35:08,800 --> 00:35:11,800
that's Thrown around about 
Bitcoin, the corporation's, the 

678
00:35:11,800 --> 00:35:16,000
larger corporations are coming 
in and they're starting to make 

679
00:35:16,000 --> 00:35:17,500
a dent in the footprint, you 
know. 

680
00:35:17,500 --> 00:35:20,500
So this is very, this is 
interesting turn of events. 

681
00:35:20,900 --> 00:35:22,700
How long do they put it on their
balance sheet? 

682
00:35:22,800 --> 00:35:25,700
I don't know, but the incentives
I think are irresistible 

683
00:35:25,700 --> 00:35:28,700
anyways, to address the elephant
in the room that we have been 

684
00:35:28,700 --> 00:35:30,400
covering the last couple of 
days. 

685
00:35:31,000 --> 00:35:33,400
We had some big news from New 
York but I'm going to cover this

686
00:35:33,400 --> 00:35:36,600
one first. 
Luckily we miss this, I mean 

687
00:35:36,600 --> 00:35:39,000
they didn't vote for this but 
the EU vote. 

688
00:35:39,100 --> 00:35:43,100
Oats 3223 against the de facto 
Bitcoin mining been. 

689
00:35:43,100 --> 00:35:45,700
It's funny because they advocate
for proof of, for proof of 

690
00:35:45,700 --> 00:35:49,400
stake, which we know is 
bullshit, but, you know, proof 

691
00:35:49,400 --> 00:35:52,500
of work is bad, but it wasn't 
only the EU. 

692
00:35:52,500 --> 00:35:55,700
It was also the, the New York 
state. 

693
00:35:55,700 --> 00:35:57,900
But this one is a little bit 
more serious because it's 

694
00:35:57,900 --> 00:36:00,900
already passed the committee. 
Now, it has to be voted on the 

695
00:36:00,900 --> 00:36:03,300
legislation, but it hasn't been 
defeated yet. 

696
00:36:03,400 --> 00:36:06,000
And that legislation 
essentially, kills Bitcoin 

697
00:36:06,000 --> 00:36:08,200
mining, right? 
They say, oh, it's okay if it's 

698
00:36:08,200 --> 00:36:11,300
100% Bubble, nothing is 100% 
renewable. 

699
00:36:11,400 --> 00:36:14,000
And the most ironic part is that
there's two different standards 

700
00:36:14,000 --> 00:36:17,700
of Court banking, their whole, 
to a said, it's okay with 

701
00:36:17,700 --> 00:36:19,200
banking. 
You don't have to ask questions,

702
00:36:19,200 --> 00:36:21,900
but Bitcoin mining has to be 
100% renewable. 

703
00:36:22,500 --> 00:36:26,100
You know, I think bitcoiners are
by default a little bit, you 

704
00:36:26,100 --> 00:36:29,200
know, paranoid. 
So I would like to think it's 

705
00:36:29,200 --> 00:36:31,500
because of control, but I don't 
know. 

706
00:36:31,500 --> 00:36:33,200
Ben, what are your thoughts on 
this be? 

707
00:36:33,200 --> 00:36:38,900
It's BS Pro, it's BS. 
It's always been nonsense but 

708
00:36:39,100 --> 00:36:41,300
You know, that doesn't mean that
politicians aren't going to put 

709
00:36:41,300 --> 00:36:44,200
forward nonsense. 
It all almost always means it. 

710
00:36:44,200 --> 00:36:46,700
That's exactly the kind of stuff
that they're going to propose 

711
00:36:47,100 --> 00:36:50,100
you know I think a lot of this 
stuff comes from the fact that 

712
00:36:50,100 --> 00:36:53,500
people don't actually understand
electricity and energy and you 

713
00:36:53,500 --> 00:36:55,800
know what is energy, how do they
can't convert it into 

714
00:36:55,800 --> 00:36:57,500
electricity? 
How is it distributed and 

715
00:36:57,500 --> 00:37:00,400
transmitted to your home or 
business people to understand 

716
00:37:00,400 --> 00:37:03,000
it? 
People think electricity is like

717
00:37:03,000 --> 00:37:06,700
some some mythical thing that 
you know you just flip on the 

718
00:37:06,700 --> 00:37:09,400
light switch and there's just 
power there and it just You 

719
00:37:09,400 --> 00:37:11,700
know, you don't know where it 
comes from and you don't really 

720
00:37:11,700 --> 00:37:13,700
care. 
And so I think when that's your 

721
00:37:13,700 --> 00:37:18,500
perspective, it's really easy 
to, you know, pick a picks a 

722
00:37:18,508 --> 00:37:21,000
Target and say, you know, you're
the problem. 

723
00:37:21,000 --> 00:37:23,400
I'm going to, I'm going to get 
rid of you because that'll fix 

724
00:37:23,400 --> 00:37:25,900
everything. 
It won't fix anything in the 

725
00:37:25,900 --> 00:37:27,700
energy, infrastructure and 
Europe. 

726
00:37:27,700 --> 00:37:30,200
They've already screwed that up 
through the policy. 

727
00:37:30,500 --> 00:37:33,700
You know, this would just be a 
doubling down or quadrupling 

728
00:37:33,700 --> 00:37:36,500
down of bad mistakes made in the
past. 

729
00:37:36,500 --> 00:37:40,400
So, you know, I think is very 
positive that it didn't happen. 

730
00:37:40,600 --> 00:37:45,600
And if again, if their goal is 
renewable electricity to power 

731
00:37:45,600 --> 00:37:49,200
all of Europe than Bitcoin, 
mining helps incentivize that 

732
00:37:49,200 --> 00:37:52,000
development and that, that 
infrastructure. 

733
00:37:52,000 --> 00:37:55,900
So there's no reason why you 
should want to ban it and say, 

734
00:37:55,900 --> 00:37:58,200
hey, we want to be completely 
renewable. 

735
00:37:58,200 --> 00:38:00,700
We should actually invite 
Bitcoin miners to come in here. 

736
00:38:00,700 --> 00:38:03,500
Become anchor, tenant that new 
hydroelectric, dams become, 

737
00:38:03,500 --> 00:38:06,400
anchor tenant, that nuclear 
power plants, right? 

738
00:38:06,400 --> 00:38:09,500
And be able to drive that base, 
load demand and provide Demand 

739
00:38:09,500 --> 00:38:12,200
response. 
That's necessary to have a 

740
00:38:12,208 --> 00:38:16,000
stable and cost-effective grip. 
Phil, what are your thoughts on 

741
00:38:16,000 --> 00:38:17,500
this? 
This, this might sound a little 

742
00:38:17,500 --> 00:38:21,200
hyperbolic, but I feel as 
though, Banning proof of work 

743
00:38:21,300 --> 00:38:24,500
essentially bands, you know, 
whoever does it essentially 

744
00:38:24,500 --> 00:38:28,500
bands themselves from future 
Prosperity, like I just feel 

745
00:38:28,500 --> 00:38:32,600
like it's this, it's this 
terrible response, you know, as 

746
00:38:32,600 --> 00:38:37,200
you were indicating it's just a 
terrible response, you know, to 

747
00:38:37,200 --> 00:38:41,000
to a situation and I feel that 
they're incredibly misinformed, 

748
00:38:41,000 --> 00:38:43,400
of course, I obviously I'm happy
that it didn't go through, 

749
00:38:43,400 --> 00:38:45,400
right? 
But like Nico pointed out, New 

750
00:38:45,400 --> 00:38:47,600
York, New York, hasn't Struck it
down yet. 

751
00:38:47,600 --> 00:38:51,000
And yet, for some reason, like 
there is a heavy. 

752
00:38:51,200 --> 00:38:53,800
There is a heavy push over there
to really get this out. 

753
00:38:53,800 --> 00:38:56,000
Like something about that state,
I don't understand it. 

754
00:38:56,008 --> 00:38:59,700
Like why they are such enemies 
of proof of work, you know, but 

755
00:38:59,700 --> 00:39:04,600
it's really really odd anyways. 
Yeah, man. 

756
00:39:04,700 --> 00:39:06,600
Look, I think they're, they're, 
they're taking themselves out of

757
00:39:06,600 --> 00:39:07,800
the market. 
I said it yesterday, they're 

758
00:39:07,800 --> 00:39:11,100
making themselves obsolete, you 
know, and I think that, at the 

759
00:39:11,100 --> 00:39:14,000
end of the day, a lot of this 
news is just a lot of its look. 

760
00:39:14,000 --> 00:39:16,700
It's just a lot of noise, right?
We just talked about it before 

761
00:39:16,700 --> 00:39:19,400
ExxonMobil, right? 
Like that, that's the beginning 

762
00:39:19,400 --> 00:39:22,100
of the death of the ESG 
narrative as been indicated. 

763
00:39:22,600 --> 00:39:25,000
Absolutely here. 
New York is definitely gonna 

764
00:39:25,000 --> 00:39:28,200
have fun staying poor, if that 
passes anyways, check this out. 

765
00:39:28,300 --> 00:39:30,100
Awesome. 
Awesome name. 

766
00:39:30,100 --> 00:39:33,100
Bit Farms commences production 
at the bunker that sounds 

767
00:39:33,100 --> 00:39:34,900
badass. 
Anyways, the read a little bit, 

768
00:39:34,900 --> 00:39:37,200
the bunker is being constructed.
In three phases phase. 

769
00:39:37,200 --> 00:39:40,200
One of which is, art has been 
completed an initial capacity of

770
00:39:40,200 --> 00:39:42,900
12 megawatts decent chunk 
energizes. 

771
00:39:43,100 --> 00:39:46,200
The bunker moves us one step 
closer to meeting the Target. 

772
00:39:46,200 --> 00:39:48,800
Rapid deployment of mining 
assets is underway. 

773
00:39:49,000 --> 00:39:52,100
The bunker is presenting 
operating at 300 Peta hashes. 

774
00:39:52,100 --> 00:39:54,700
It's a lot of miners upon full 
build-out. 

775
00:39:54,700 --> 00:39:58,300
The bunker is expected to be a 
48 48 megawatt, facility 

776
00:39:58,300 --> 00:40:02,900
housing. 13 thousand miners 
anticipated to deliver 1300 Peta

777
00:40:02,900 --> 00:40:06,400
hashes per construction is being
done in three phases. 

778
00:40:06,700 --> 00:40:12,100
So then what is the butter? 
What's going on Bunker? 

779
00:40:12,100 --> 00:40:14,400
For the bunkers. 
Our newest Bitcoin mind that 

780
00:40:14,400 --> 00:40:19,000
we've built our new Bitcoin farm
that we've built it since it's 

781
00:40:19,000 --> 00:40:22,700
in cubic and this is in a 
building that was designed to be

782
00:40:22,700 --> 00:40:26,000
a Distillery. 
And so the requirements for this

783
00:40:26,000 --> 00:40:29,400
building was that it was 
supposed to be able to withstand

784
00:40:29,400 --> 00:40:34,900
an explosion of The Distillery 
from inside the And so the 

785
00:40:34,900 --> 00:40:38,200
building is three-foot, thick 
concrete. 

786
00:40:38,600 --> 00:40:42,700
I mean if it could just survive,
probably a nuclear blast. 

787
00:40:42,900 --> 00:40:44,400
So that's why we call it the 
bunker. 

788
00:40:44,900 --> 00:40:48,300
It's their biggest site that 
we've built so far forty, eight 

789
00:40:48,300 --> 00:40:49,300
megawatts. 
Is huge. 

790
00:40:49,300 --> 00:40:53,900
I mean, that's 1.3 x a hash, to 
think about all those miners the

791
00:40:53,900 --> 00:40:57,600
in plugged in and one location 
is really quite exciting for us,

792
00:40:58,100 --> 00:41:00,100
but it's not just about fell 
bunker. 

793
00:41:00,200 --> 00:41:03,600
You know, the release their also
said we're deploying. 

794
00:41:03,700 --> 00:41:05,600
Miners. 
In Paraguay, I mean, we've got a

795
00:41:05,600 --> 00:41:09,500
lot going on right now. 
We're operating in four 

796
00:41:09,500 --> 00:41:11,500
different countries. 
Currently we've got multiple 

797
00:41:11,500 --> 00:41:14,300
facilities under development, 
multiple facilities under 

798
00:41:14,800 --> 00:41:18,700
upgrading and we just continue 
to grow like a weed and that's 

799
00:41:18,700 --> 00:41:20,900
what all the Bitcoin miners are 
doing right now. 

800
00:41:20,900 --> 00:41:24,400
They're growing like a weed and 
the reason why Bitcoin miners 

801
00:41:24,400 --> 00:41:27,400
are investing now is because 
they're getting ready for the 

802
00:41:27,400 --> 00:41:29,200
rally. 
They know that that rally is 

803
00:41:29,200 --> 00:41:32,400
coming, it's inevitable. 
That is coming and the way that 

804
00:41:32,400 --> 00:41:35,500
you make money as a minor. 
You by while the markets down, 

805
00:41:35,700 --> 00:41:38,500
even if that's all the markets 
down and you're ready to ride 

806
00:41:38,500 --> 00:41:43,000
that leg up, you don't make 
money as a minor if you buy in 

807
00:41:43,000 --> 00:41:46,200
at the peak. 
It's, it just doesn't work that 

808
00:41:46,200 --> 00:41:47,500
way. 
Nothing works that way. 

809
00:41:47,500 --> 00:41:49,800
You cannot buy in the peak and 
make money. 

810
00:41:49,800 --> 00:41:51,400
You always have to buy enough 
below. 

811
00:41:51,400 --> 00:41:54,800
So, incredibly bullish, I think 
seeing all the growth in the 

812
00:41:54,800 --> 00:41:59,300
industry and we really like to 
to do this, you know, this is 

813
00:41:59,300 --> 00:42:02,500
something that we think is a 
strategic way for us to kind of 

814
00:42:02,500 --> 00:42:06,300
give back to the Bitcoin. 
Mining community and get give 

815
00:42:06,300 --> 00:42:08,200
people an alternative. 
You know, when I was getting 

816
00:42:08,200 --> 00:42:12,400
started, there was just a couple
of cloud Miners and a couple of 

817
00:42:12,400 --> 00:42:15,300
providers but everything was 
really scammy, everything was 

818
00:42:15,300 --> 00:42:19,500
really sketchy and I think that 
that's really held the industry 

819
00:42:19,500 --> 00:42:22,400
back. 
Part of decentralization is not 

820
00:42:22,400 --> 00:42:26,000
just about the physical location
of the machines, it's about the 

821
00:42:26,000 --> 00:42:29,100
ownership as well. 
And so what we're trying to do 

822
00:42:29,100 --> 00:42:32,400
is be centralized ownership of 
our hash rate through our public

823
00:42:32,400 --> 00:42:35,700
company and we met 
Cost-effective transparent 

824
00:42:35,700 --> 00:42:38,400
efficient Bitcoin, mining 
available to anybody in the 

825
00:42:38,400 --> 00:42:42,000
world you know, without the huge
counterparty risk that you used 

826
00:42:42,000 --> 00:42:45,200
to have with with Cloud mining 
companies and providers not 

827
00:42:45,200 --> 00:42:47,900
knowing if they were going to 
actually do what they said they 

828
00:42:47,900 --> 00:42:49,900
were they were going to back out
of a contract. 

829
00:42:49,900 --> 00:42:51,800
If they were going to cancel 
something if they just take your

830
00:42:51,800 --> 00:42:56,100
miners away, you know, that's 
it's really game-changing. 

831
00:42:56,100 --> 00:42:58,400
I think what's happening here in
the mining industry and that's 

832
00:42:58,400 --> 00:43:00,900
just going to bring so much more
investment so much more 

833
00:43:00,900 --> 00:43:04,400
attraction to bitcoin. 
And it's really going to be a 

834
00:43:04,408 --> 00:43:08,000
big driver of the next leg up. 
Absolutely, it's funny that you 

835
00:43:08,000 --> 00:43:11,300
mentioned the old distillery 
because I found myself in the 

836
00:43:11,300 --> 00:43:14,100
similar situation, which I've 
told Phil many times, right 

837
00:43:14,600 --> 00:43:16,800
where I started after I left 
that, as well as the place, 

838
00:43:16,800 --> 00:43:19,800
where I started mining was this,
it's in South Carolina and it 

839
00:43:19,808 --> 00:43:23,100
was an old pantyhose Factory 
that had all the necessary 

840
00:43:23,100 --> 00:43:26,400
infrastructure already there. 
Had to had a had are extractors,

841
00:43:26,400 --> 00:43:29,300
you know, to get the fumes. 
I was already set up so it's 

842
00:43:29,300 --> 00:43:31,300
funny to hear you. 
It's like oh you're taking 

843
00:43:31,300 --> 00:43:34,400
advantage of infrastructure or 
It's already there. 

844
00:43:34,700 --> 00:43:37,200
I'm sure that, you know, the, 
the electrical infrastructure 

845
00:43:37,200 --> 00:43:39,200
somebody's already built out, 
right? 

846
00:43:39,200 --> 00:43:44,200
So yeah, it's just so funny how 
Bitcoin gives value to things 

847
00:43:44,200 --> 00:43:47,300
that would already go to waste 
whether that's flared gas or 

848
00:43:47,300 --> 00:43:50,600
whether that was, you know, old 
buildings that, you know, no one

849
00:43:50,600 --> 00:43:53,900
ever thought was gonna have any 
use anymore, so very cool stuff.

850
00:43:53,900 --> 00:43:56,000
Anyways, Phil, what are your 
thoughts on this? 

851
00:43:56,000 --> 00:43:59,300
You know what, I have nothing 
except that story. 

852
00:43:59,300 --> 00:44:01,500
Just made me super bullish, 
right? 

853
00:44:01,500 --> 00:44:03,900
Like that's really what it did. 
I was just listening to To him. 

854
00:44:03,900 --> 00:44:06,400
And I'm like, wow, this is 
awesome. 

855
00:44:06,400 --> 00:44:09,300
And you see the signal like of 
what Ben said? 

856
00:44:09,300 --> 00:44:14,000
He said that when the prices 
down, this is the time to go and

857
00:44:14,000 --> 00:44:16,600
invest, right? 
So, while you have like a whole 

858
00:44:16,600 --> 00:44:18,900
bunch of other people, bunch of 
weak hands that are, you know, 

859
00:44:18,900 --> 00:44:21,900
running for the exits, you've 
got people that are doubling 

860
00:44:21,900 --> 00:44:24,800
down building infrastructure 
because they know what's coming 

861
00:44:25,100 --> 00:44:28,300
bullish. 
So, been in the announcement, It

862
00:44:28,308 --> 00:44:32,800
also says that each facility is 
over 99% powered with 

863
00:44:32,800 --> 00:44:35,000
environmentally. 
Only hydropower. 

864
00:44:35,100 --> 00:44:39,700
Is that something that b Farms 
is trying to stick to just 

865
00:44:39,700 --> 00:44:42,200
hydropower? 
You're not trying to, you know, 

866
00:44:42,200 --> 00:44:44,400
might because I remember when I 
started Mining and it was funny 

867
00:44:44,400 --> 00:44:47,300
because you said in 2018 2019 
things to change and they did 

868
00:44:47,300 --> 00:44:50,100
change because before that it 
was all about grid Mining and 

869
00:44:50,100 --> 00:44:52,300
finding, you know, scouting that
cheap electricity. 

870
00:44:52,400 --> 00:44:54,200
And I think something happened 
in the industry. 

871
00:44:54,200 --> 00:44:55,600
Could he talk a little bit about
that? 

872
00:44:56,400 --> 00:44:58,000
Sure. 
I mean, the hydropower is 

873
00:44:58,000 --> 00:45:00,400
something that I think is really
unique to our company. 

874
00:45:00,600 --> 00:45:03,500
Since 2017, every Bitcoin, we've
mind, we've done it. 

875
00:45:03,600 --> 00:45:07,000
It with all with hydropower. 
I mean, really, the province of 

876
00:45:07,000 --> 00:45:11,200
Quebec is completely Hydro. 
There is one that gas peaker 

877
00:45:11,200 --> 00:45:15,400
plant, which may get turned on, 
you know, but often it just 

878
00:45:15,400 --> 00:45:18,500
doesn't get tired on at all, you
know, it could go years without 

879
00:45:18,500 --> 00:45:20,900
being turned on and we're on a 
curtailment program. 

880
00:45:20,900 --> 00:45:24,400
So, if the peaker plant was ever
needed to be turned on, we would

881
00:45:24,400 --> 00:45:28,800
already be turned off, you know,
to make that power available to 

882
00:45:28,800 --> 00:45:33,400
the community. 
The for us to hydro thing is 

883
00:45:33,700 --> 00:45:35,600
Really important on the 
inflation side of things. 

884
00:45:36,700 --> 00:45:40,200
You know, we've been sitting in 
a multi-year period. 

885
00:45:40,200 --> 00:45:45,700
I think we're Commodities where 
depressed and Nat gas and oil 

886
00:45:45,700 --> 00:45:49,000
and we're really been pushed 
down, you know, and that's 

887
00:45:49,000 --> 00:45:50,300
driving. 
A lot of those Neck gas 

888
00:45:50,300 --> 00:45:53,800
electricity prices. 
As we enter into this 

889
00:45:53,800 --> 00:45:57,800
inflationary commodity 
supercycle, there's going to be 

890
00:45:57,800 --> 00:46:00,100
several things that happen on 
the NAT gas side. 

891
00:46:00,100 --> 00:46:04,300
Specifically but Nat gas price 
has to go go up. 

892
00:46:04,300 --> 00:46:07,400
I mean, it has to go up from 
just inflationary concerns but 

893
00:46:07,400 --> 00:46:10,100
then you also have on top of 
that, you have the gasification 

894
00:46:10,100 --> 00:46:13,500
of every coal, plant in North 
America and seemingly around the

895
00:46:13,508 --> 00:46:16,800
world, which is increasing 
demand exponentially and that 

896
00:46:16,800 --> 00:46:22,000
gas at the same time, regulators
and politicians are shutting 

897
00:46:22,000 --> 00:46:25,800
down, new gas, plants, new, gas 
Wells, new gas, pipelines, new. 

898
00:46:25,800 --> 00:46:29,200
Gas processing plants. 
And so you're restricting 

899
00:46:29,200 --> 00:46:31,000
Supply. 
At the same time, your 

900
00:46:31,000 --> 00:46:35,200
increasing demand in the middle.
The at the beginning of a 

901
00:46:35,200 --> 00:46:38,600
commodity supercycle and 
inflationary, I don't know what 

902
00:46:38,600 --> 00:46:42,500
you're going to call this 
inflationary supercycle to, it's

903
00:46:42,500 --> 00:46:45,200
really quite crazy and so for 
us, you know, we're trying to 

904
00:46:45,200 --> 00:46:49,800
say how do we as a minor? 
How do we make our minds 

905
00:46:49,800 --> 00:46:52,700
profitable for the long term? 
We know that minor is going to 

906
00:46:52,700 --> 00:46:55,600
be generating a good casserole 
for at least, five or seven 

907
00:46:55,600 --> 00:46:58,200
years. 
How do we set up to make sure 

908
00:46:58,200 --> 00:47:01,400
that we can achieve that pole, 
five to seven years or Beyond? 

909
00:47:01,800 --> 00:47:03,500
And I think Hydro is the way to 
do that. 

910
00:47:03,600 --> 00:47:09,200
That there is no real costs 
associated with maintaining 

911
00:47:09,200 --> 00:47:11,100
eyes. 
Those damn, why is it so cheap 

912
00:47:11,800 --> 00:47:13,700
this? 
It's one of those situations 

913
00:47:13,700 --> 00:47:18,200
where the capex is much higher 
to build a hydro plant, because 

914
00:47:18,200 --> 00:47:21,400
it requires so much labor so 
much engineering so much, you 

915
00:47:21,400 --> 00:47:25,700
know, excavation so much cement.
But on the backside, you're off 

916
00:47:25,700 --> 00:47:28,600
X is cheap because there's no 
fuel, there's no input. 

917
00:47:28,600 --> 00:47:33,400
Like you have Labor and some and
some parts but I mean it's very 

918
00:47:33,700 --> 00:47:35,900
Very minimal cost. 
And so if you're looking at 

919
00:47:35,900 --> 00:47:38,800
what's going to do the best and 
inflationary, you know, 

920
00:47:38,800 --> 00:47:42,100
supercycle. 
I want the energy source with a 

921
00:47:42,300 --> 00:47:45,800
few with inputs, right? 
I also want the energy source, 

922
00:47:45,800 --> 00:47:48,700
that's the most bureaucratic and
slow to change. 

923
00:47:48,800 --> 00:47:54,300
And that tends to be Public, 
Utilities, you know, I don't 

924
00:47:54,300 --> 00:47:57,900
want to be in a market that has 
a free market for price and and 

925
00:47:57,900 --> 00:48:01,000
I'm, you know, exposed to that 
price of that gas as it 

926
00:48:01,000 --> 00:48:03,500
continues to go up. 
I want to be in a place. 

927
00:48:03,600 --> 00:48:07,400
Where, you know, the utility 
can't change their price because

928
00:48:07,400 --> 00:48:10,100
then the mom and pop is going to
complain about the price being 

929
00:48:10,100 --> 00:48:13,400
changed on them. 
That's going to give us the most

930
00:48:13,400 --> 00:48:16,100
stable, long-term cost effective
power. 

931
00:48:16,100 --> 00:48:19,000
We think for running our 
operation. 

932
00:48:19,000 --> 00:48:22,400
So it's really strategic for us 
about every farm that we have 

933
00:48:22,400 --> 00:48:25,700
now is all hydropower. 
We are building our first nap 

934
00:48:25,700 --> 00:48:29,600
gas site down in Argentina but 
that's kind of a special 

935
00:48:29,600 --> 00:48:32,800
situation as well where we're 
taking advantage of an excess 

936
00:48:32,800 --> 00:48:35,100
energy. 
And access infrastructure. 

937
00:48:35,600 --> 00:48:39,700
So we're getting very very low 
cost power relative to what 

938
00:48:39,700 --> 00:48:43,600
we're paying in Quebec. 
Very, very, very awesome. 

939
00:48:44,000 --> 00:48:47,000
Then, thank you so much. 
But anyways, Phil it's time for 

940
00:48:47,000 --> 00:48:49,400
know, is that site for anything.
There was an open source 

941
00:48:49,400 --> 00:48:52,700
software, Lisa day, 22 everybody
about it software releases, 

942
00:48:52,700 --> 00:48:55,100
brought to you by Cipher safe. 
Check them out. 

943
00:48:55,100 --> 00:48:58,400
Cipher safe dot IO, it's no 
secret. 

944
00:48:58,400 --> 00:49:03,000
The biggest deal is storing your
seed for your Bitcoin. 

945
00:49:03,600 --> 00:49:07,700
Do it in the Cipher wheel or the
all new Cipher grid. 

946
00:49:07,900 --> 00:49:10,100
They both come with a 
tamper-resistant wire but the 

947
00:49:10,100 --> 00:49:14,400
grid comes with a punch tool. 
We've got I'll be version 1.7 

948
00:49:15,300 --> 00:49:17,900
dot 0 and for the people who 
don't know what that is, that is

949
00:49:17,900 --> 00:49:22,700
a plug-in for YouTube for people
to be able to stream, SATs to 

950
00:49:22,700 --> 00:49:26,500
YouTubers. 
The link is down below in the 

951
00:49:26,500 --> 00:49:29,600
show notes. 
Don't forget, we drop our 

952
00:49:29,600 --> 00:49:33,400
episodes on audio only 
platforms. 

953
00:49:33,800 --> 00:49:37,400
Check us out. 
On Apple, podcasts Spotify, and 

954
00:49:37,400 --> 00:49:38,700
anchor. 
And if you want to stream of 

955
00:49:38,700 --> 00:49:41,800
some SATs Fountain dot f m--. 
Awesome. 

956
00:49:41,800 --> 00:49:43,700
Thank you for. 
All right, guys, before we going

957
00:49:43,700 --> 00:49:46,000
to give a very special shout-out
to our awesome thread. 

958
00:49:46,000 --> 00:49:50,200
Sponsor represent represent 
LTD.com or rep, hard.com. 

959
00:49:50,200 --> 00:49:53,000
And you can take advantage of 
the link down below for 10% off 

960
00:49:53,000 --> 00:49:55,500
anything on the store, Phil 
Knight, where their hoodies 

961
00:49:55,500 --> 00:49:57,300
every episode. 
I also want to give a very 

962
00:49:57,300 --> 00:49:59,900
special shout-out to our awesome
guest. 

963
00:49:59,900 --> 00:50:03,500
Been you can go give him a 
follow on Twitter at hash over 

964
00:50:03,600 --> 00:50:05,800
Ride. 
He is the chief mining officer 

965
00:50:05,800 --> 00:50:08,800
at bit Farms now that you guys 
got a lot of the inside scoop at

966
00:50:08,800 --> 00:50:11,000
bit Farms. 
I'm correct me if I'm wrong, but

967
00:50:11,000 --> 00:50:13,500
they are publicly traded company
and Canada. 

968
00:50:13,600 --> 00:50:15,400
Definitely, go check it. 
Check us out guys. 

969
00:50:15,400 --> 00:50:18,100
If you could check them out, 
guys, if you enjoyed the show, 

970
00:50:18,100 --> 00:50:20,900
you know what to do. 
Smash, of course, if you want to

971
00:50:20,908 --> 00:50:22,900
continue hearing the Bitcoin, 
use from the Polly Platt 

972
00:50:22,900 --> 00:50:25,400
perspective, and the 
catastrophic fails definitely 

973
00:50:25,400 --> 00:50:27,300
consider subscribing to Simply 
Bitcoin. 

974
00:50:27,400 --> 00:50:28,900
I'll see you tomorrow guys, for 
any Episode. 

975
00:50:28,900 --> 00:50:32,000
III was Schilling proof of stake
in 2016. 

976
00:50:32,300 --> 00:50:35,600
Stop falling for the Rhode show.
There's only Bitcoin.