Yep. Today is October. 7 2022.
Welcome to Simply Bitcoin. We are your number one source
for the peaceful. Bitcoin Revolution recover, the
breaking news culture. Me, Matic Warfare we show you
why only Bitcoin can give you true Financial sovereignty.
And when we say that, we obviously mean Freedom, welcome
to the Friday special. We are live streaming from the
floor of Scots legendary the mining conference.
Well, he changed it now. It's just the mining conference.
I want to give a special shout-out to Scott.
He is the organizer. Welcome to the show, man.
It's great to be here. Great, to be here.
Yeah, it's coming together nicely and we're just having a
great time at the mining conference here in Round Rock,
Texas. Yeah, this is this is definitely
is a celebration. You get to meet a lot of people
from the industry that you would never regular.
See spoke to some of the people a bit made spoke to people at
what's minor. All the major manufacturers are
here if you're interested in hosting.
It's also a good place to be. Also want to give a special
shout-out to my friend Tucson. The Spin Master from bowling
last night. Kaboom Max.
How you doing? Tucson gem.
Pretty good. As you can see, I'm drinking a
Red Bull, and if you're not working towards hypertension in
this bear Market, you're not building hard enough.
Is them that he dropped and of course Tom, how you doing?
Tom, welcome to Simply Bitcoin. Great, thanks for having me on,
great to see some familiar faces and meet some new people.
So it is going to be a great show.
Guys. We're gonna it's we're going to
change it up a little bit. To take advantage of the fact
that we have all these awesome panelists on the show.
Today, we're going to talk definitely going to scoop into
mining. I've had private conversations
with with Tucson, I've had private conversations with Alex,
I've had private conversations with Scott, so just a just some
interesting topics that we could definitely bring up today.
That I feel like you guys would find valuable many ways, not the
culture. We're doing interviews.
We're doing interviews, my job is easy today.
So yeah guys, I'm having a blast out here.
Me and Nico dominated bowling last night.
I ate like too many burgers, you know, not doing the best on my
diet over here, but fun time bullying just for anyone who
hasn't done it before, just throw the ball hard.
It works. Anyways, let's start the show.
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Billion USD. Anyways, I wanted to take
advantage of the number section to give a shout-out to the
legendary crypto couple. They came out with another
awesome me Maddox in video and I want to play that for you guys
today and then we'll Riff on it. Let's check it out.
Shout out to the crypto couple and we got a viking behind
stage. Dude, dude.
Dude, they're fucking great the fucking amazing.
Holy shit. That was Beatles right.
They must think that Simon and Garfunkel.
Right. Is it?
I don't know. I don't know.
We're definitely gonna get
smashed some old band so that came from Scott that income from
Nico, just for the record. I'm yeah.
That Sound of Silence, right. Simon and Garfunkel parody.
Nico doesn't know anything about anything when it comes to music.
So I got back. Anyways before we get into just
making fun of Nico. I as much as everyone calls what
they're doing, you know cringe and I still believe that they're
spreading that signal. And this is this out who the
hell says it on Twitter. A lot of people be talking that
smack and And I think they're killing it.
Everything they're doing just kids better.
Their production value just continues to get better.
They're getting better at the parodies and this is what this
is, what happened for for Mass adoption guys, like having these
little skits, this is how you sink into the culture and you
tell people the signal while, maintaining all the sauce and it
is nigga you jump in, you jump in.
Yeah, dude, first of all, crypto couple, shout out to them,
Absolute Legends. Freaking bro.
Amazingly Medics man. Amazing memetics.
There's some of the best getting the message out there.
One of the most effective ways and reason memes are so
effective, right? It's first of all, they have to
have a common denominator which is the truth.
They don't have that common denominator, then it's not it's
not going to go viral. People are not going to
understand that common language that's number one.
Number two is make people laugh right?
You know there's a lot of heavy crap that we have to deal with.
This is a separation of money and state after all.
So you know at least they're talking about dark top.
But in a light heart and I think that's why it's so effective and
it's not only me saying that the free market is saying that as
well. Look at the amount of views that
they're getting. Look at the amount of traction
engagement. I think sailor retweeted them
the other day, right? So, you know, it speaks for
itself. The effectiveness of crypto
couples pneumatics, right? So anyway, Scott, what was your
you you heard that right? That was that was nice.
I like it. You know.
There's something to be said about you know, the production
quality these days. I think people actually Really
tend to like stuff that's a little bit more rough.
So I hope it doesn't get too refined I like that was dropped
in some wisdom, some wisdom anyways.
Tucson, don't forget to pick up the mic.
What do you think? Um, crypto cup, love it, I think
culture parodies music is very underappreciated.
It's something that's incredibly important for moving people.
People understand things from different mediums.
And stuff like, that's pretty pretty awesome.
Absolutely. Kaboom, Kaboom racks Tom.
What are you thoughts, man? Yeah, I love it, man.
I think, you know, people engage with stories and that's kind of
something that they're kind of representing every time they
drop some new content so really appreciate it.
Absolutely, 100% Opti. Is it time?
It's time, it's time. All right, all right guys, let's
get to the news is do it. The Daily News brought to you by
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A bit box today. All right, guys, I'm gonna make
this Or because I really want to take advantage of the fact that
we have some awesome guests. But I do have to cover this is
the original title for the thumbnail but as guests came in,
right we did obviously you have a change of plans but we need a
contingency so this is the original title so I'm going to
address it where to talk about this today and we have an
awesome panel too kind of Riff on.
So for anyone that doesn't know, Celsius disclosed names and
transaction history of all users during bankruptcy.
Any wallet that Interacted with Celsius, is now publicly linked
to government ID and here are some of the bullet points.
Court filings totaled, 14,000 Pages data includes names,
trading history, transaction times.
And amounts, this data can be combined with on chain data to
connect self custody wallets with any Celsius, user that
interacted with them Celsius, ask for the names of its users
to be hidden from the court filings.
But the judge refused saying that is common requirement for
bankruptcy cases. Users are now at Thinking's risk
of theft and extortion, right? And we had some predominant
bitcoiners that were signed up to sit Celsius is like blad
right blad admitted that he was on there as well.
And this is mad. Odell's, you know, thinking on
this, he said today's not a good day, the fact that most Bitcoin
services are storing growing list of bitcoiners and our
transaction history puts us all at risk and I agree.
And I think this is one of the unintended consequences of Ky C.
You C KY. I see being pushed, you know,
tremendously and all the benefits of it.
But the downsides of it is, never talked about is never
talked about, right? The dangers of it, right?
And it wasn't only that, right? Equifax had a crazy leak as
well. And there's so many leaks that
you look throughout the last 56 years of very personal
information but every time, you know, more kyc and more am L, is
pushed by regulators and you know, Bitcoin exchanges are
forced to comply or else they're going to be Been out of
business. It's never the downsides are
never talked about, right? And downsides of that system is
never talked about one of the awesome things about Bitcoin is
anonymity. I don't need to untie.
Don't need to know someone's personal information and who
they are. What their name is to pay them
right if they offer me free good work right?
You know I do this all the time, you know when I'm like hey I
need help with the thumbnail, you know, I hire random pleb, I
pay them directly half the time. I don't even know who their name
is who they are, but it doesn't. Matter.
I don't need to I'm just paying them for their work, right?
And I believe that in itself is going to connect the world.
The likes of which we've never seen before and it's going to
create opportunities for people in developing countries where
they had no opportunities before, right?
Because there was no way to pay them, right?
You going to pay someone through PayPal and that persons in
Nigeria? No, that doesn't work, right?
Bitcoin allows that, right? So again, I think this is just
another example of how the Oh it trying to implement the Legacy
system on top of the System has unintended consequences and it's
actually, potentially, could put people in physical danger Opti.
What are your thoughts on this? Well, this Celsius.
What's the guy's name? Alex, my schinsky.
This debacle just keeps getting worse and worse.
And I mean, dude, the fact that the court documents, just docks.
Everyone's all their information in there and the judges like
says like nah, this is all going in there, man.
Absolutely Like I want to say an embarrassment but there's I
guess, you know, this is the law and this is what you got to do
and then just just to put a little Personal Touch on it.
There was a piano bar here and the piano player was talking
about him being on Celsius and him getting wrecked.
So unfortunate now that I guess all his information is out there
and and it's just, you know, further further Testament to the
idea of Everything is like a honey pot with your information
here and try to do your best to avoid what what, you know the
kyc, but don't break the laws or whatever.
Not, you know, Bitcoin. Hold on, hold on, hold on
bitcoin. That you can get without signing
up is nice. Yes, I mean, like look like you
got to talk about it, right? The difference between non kyc
Bitcoin kyc become one of the best ways for non kyc, by the
way is Bitcoin mining. And if you want to know more
about it, you should have to come to the mining conference
here. But look, So think about it,
right? One of the best ways is mining
Bitcoin. Another is peer to peer
exchanges. The problem is that had that
software is usually very heavy and usually tend to pay to pay a
heavy premium, right? If you're using bisque, what a
lot of people do in developing countries and overseas, is they
have these massive telegram chats and it's all peer-to-peer.
Right? You're exchanging Bitcoin
peer-to-peer for whatever currency, they're exchanging it
for on the ground. That's usually how it works.
But It sucks because major Bitcoin businesses babe your
Bitcoin exchanges, if they don't want to be put in jail or driven
out of business, they have to implement kyc their coerced to
doing. So, to the fact that they take
this. So, seriously that they put art,
they made an example of Arthur, Hays, man.
You know, the founder of bit Max because he didn't Implement
sufficient kyc and am L, right? So it puts everything, it puts
Bitcoin exchanges in a terrible position because it's almost as
if they have to Monitor for the government.
It's like they become an extension for the government,
right? Which is terrible as well, man.
I think the, the, the important discussion right should be, is
K, what are the benefits of kyc and am L?
We had a kyc and am L expert on the show and then right we had a
he went through the data. It was like point.
One percent of criminal proceeds are recovered because of the kyc
an AML system. I would like to make the
argument that kyc and am L is really a system of control.
All right? So About controlling people.
What are the actual, you know, benefits of stopping crime,
right? What what is are we gaining more
from having these systems? Then what we're losing right?
And I think that's a really important question that your
discussion to have. And I think more people should
do research on that, and we've actually had, you know, KY caml
experts on the show and it comes from their mouths.
You know, obviously we're biased because we're bitcoiners, but it
says, like, look, this system does not work, right?
And that was the episode with dr.
Ron Paul. Not the Vision, by the way.
So yeah. Anyways Scott, what are your
thoughts on this Celsius debacle?
What are your thoughts on machine ski?
Pulling out, 10 million, 10 million dollars, two months, or
a month before the collapse out. Maybe he knew something, I don't
know. But yeah, I know you're saying
earlier, you know, about kyc and the piano man, but it's just,
it's just awesome, you know, being here at this conference at
the mining conference We were able to spread that Bitcoin love
and we were able to actually give the the Piano, Man some
Bitcoin. It was his first Bitcoin
transaction. Unfortunately, it was on a kyc
wallet, but hey, we're getting the word out there.
Absolutely. All right.
Tucson, the Spin Master X.
I think it's important, like, is people like the frame?
These conversations in ways where it's really hard to argue
against against against because it's in bad faith.
Like you know, we're talking about how kyc has no, you know,
positive impacts and is actually a detriment to everybody, you
know, having to go through it. And so, you know, I like to do
little things. I don't refer to it as non kyc,
but I refer to it as ethical Bitcoin.
I think stuff like that is important.
You want to go about things and be treated.
Unethically, or do you want to start looking at ethical ways to
operate? And it's just, it's crazy.
It's about control. It's about Like really doing you
a disservice. It's about putting you in
dangerous situations where you're at risk.
Like it happens over and over again.
Every time your information, your personal info is collected,
it's going to be leet, eventually, I mean, just little
things. Like I remember, I got a bunch
of data leak. Just by swiping a debit card at
Target. And that's pretty crazy.
You know, to think about and when you're utilizing Bitcoin,
it's It's not like that and like the big thing is like, you know,
we talk about these guys talk about self custody quite a bit.
They talk about, you know, ethical Bitcoin quite a bit.
They talk about the dangers kyc like markets are the most
powerful thing and I think people have this idea that you
need kyc. Need these institutions for the
price to pump and I know a lot of people are really worried
about that, but I don't think that's necessarily true you
know, because why is Bitcoin around it?
There's a market for it's because Fiat is failing.
People are looking to escape the soup.
Its system that as these institutions and governments,
and central banks continue to do this nonsense, people are going
to fully and that's going to pump the price, you know,
ultimately and so I don't think we have to compromise and just
accept, you know, being abused by these people.
So yeah, yeah, 100%. I think that was beautifully.
Put Tom, what are your thoughts on this Celsius debacle the
collapse of Celsius and then not only did Celsius, users get
screwed in two ways, right? They got their first there, got
their funds Frozen and that they got their information, docs and
it just came out recently this week that the CEO was pulling
out money before the freeze has happened, dude.
I think that's like triple left. Yeah, triple effed.
It sucks, man. You know, I know, I know
multiple people personally, who are affected by Celsius.
Like, I know. Fortunately wasn't, but, you
know, that kind of stuff sucks. And I think on the whole Ml K YC
kind of procon thing, like it ain't for me.
You always have to compare things in terms of trade-offs,
right? It's like, whatever the stated
Pros are we got to look at the other side and see like, okay,
well, with that comes things like this data leaks.
I mean, who knows that the countless amount of, you know,
other information that's been out there and things like that.
I got a email from, it was U-Haul, I rented like three
years ago that all my stuff got leaked because I, you know,
rented, a U-Haul and had to give him my info.
And, you know, obviously like those are hard problems to
solve, but like, I think, The one benefit if I had to frame it
this way is like, I think the markets learning, right?
And I think the only thing we can rely on is like stuff like
this continue to happen, the market will learn, you know, the
pros, the cons in the trade off. So that's one way I can look at
it and maybe put a silver lining on it.
So. Yeah.
And also, I think it gives, you know, people in developing
countries this massive, I'd, you know, Advantage because they
don't have like, you know, we use, we use regulated exchanges
in the west because out of convenience, right?
That's the The magician has a reason that people use it here,
right? And because those exchanges are
business that they want to stay in business, they're kind of
coerced into implementing these systems, right?
Whereas, in developing countries, they don't have
those, they don't have those options because the actual
rails, the things that are necessary to create those exist,
they don't exist in those countries.
So the majority of people, the vast majority of people transact
Bitcoin, peer to peer through telegram groups through WhatsApp
groups, right? That's major.
And over there in Venezuela. That's what I hear happens as
well, right? So and those those groups, like
how they gonna how they going to force them to implement these
systems of kyc and am L, right? So it's like a whole it it
doesn't make sense, man. And I think this is a really
important discussion that we need to have especially in the
west, especially in developed countries and that actually
might what to do to add, what to, what Tom was saying, that
actually might put us at a competitive disadvantage because
of all the red red tape compared to developing countries.
Is that don't even have these systems in place, right?
So I don't know, I think these are really important
conversations to have. I know for a fact, more examples
of the of, of more examples of the unintended consequences of
AML, and kyc are going to continue to pop up as years to
come. And hopefully there's enough
attention. Hopefully, there's enough
knowledge in the public which inevitably forces policymakers
to have these types of discussions.
I would love For what we just discussed to be bring up in a
senate committee. I would love for it to be on
record, right? And that needs to happen, right?
It can't just be a one way Road of kyc and am L is the end all
be all we need it or else, the world will burn down.
We also need to talk about the downsides as well.
And I think that's really important discussion to have.
Anyways, I'm really looking for the culture, we're going to have
some awesome interviews with our panelists today.
Let's check it out. The daily culture brought to you
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All right guys before we get to the culture.
Speaking of conferences. Also check out Pacific Bitcoins
and be the largest Bitcoin conference on the west coast.
It's November 10 to the 11th and sunny, sunny Los Angeles for Nia
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Lynn, Alden core eclipse in c.j. Wilson, Jeff Booth, Robert Buell
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Jeff Ross. Niko and Opti Greg Faust has
well we're going to be doing a live simply Bitcoin from the
Pacific Bitcoin conference. You can take advantage of the
promo code simply to get a 20% discount on your Pacific.
Coin tickets. First, I'm going to pass it on
to Scott, Scott. I was, I've actually been
thinking about this because I knew you're going to come on the
show today. And you've been in the industry
for a while. What has changed, right?
How much bigger has it? Gotten compared to when you got
in, what do you think the biggest differences are?
Ya know, it's crazy. I've been in this industry for
about five years, you know. I've one thing I've seen as it's
starting to professionalize, you know, it is still the wild west
but there's there's more institutions coming.
You know, everybody says that but yeah, I think that's really
one of the big things is, there's not a whole lot of
standards in this industry and so we're kind of just winging
it, you know, by the, by the seat of our pants, a lot of
times. And so at a conference like
this, or, you know, if not like Pacific Pacific Bitcoin, it's
just opportunities to spread the word and teach people, you know,
how to do this stuff. So, so I I like it.
So you said something really interesting, right?
Which is you got into the industry five years ago, fast
forward now you're throwing mining conferences, right?
So holy crap. Did you have any experience in
the field whatsoever or you learning everything as you went?
Yeah, probably just learning as I go.
I think. Yeah.
I got into the industry in the first place because well, I used
to do the digital marketing. I Crosses one website.
That was really crappy and I said, hey, I think I can help
them. So, I reached out to them, they
happen to be an Asic minor manufacturer.
One thing led to another, I kept on helping them with other
things because of that, I learned about the Bitcoin mining
industry because they were making Bitcoin Miners.
And when Bitcoin kind of went Belly Up in 2017, 2018, I just
reinvented myself and said, hey, you know, I've learned Too much
about this industry, I don't want it to go to waste.
So when I just use my talents for for the mining industry.
So I just kind of said, all right, you know, I'm going to
buy equipment, I'm going to sell miners, I'm gonna help people to
do that, matchmaking for people, and I got good at it, you know,
kind of like Kaboom Rex over there as well.
And eventually I said, hey, you know, we need to take this one
step further. And there needed to be a
conference. So I started a conference.
I knew all the people that were buying minors, selling miners,
providing power, providing a Transformers different Services
products to the industry. So I figured hey, let's bring it
all together and I think, you know and that message is so
powerful, right? And you know, I know Tucson
before he was at Kaboom racks and Scott, we just recently met
been getting acquainted the Unity is just insane, right?
You know and the turnover right? You said five years ago, right,
for me was sick. I'm on your six for Tucson,
right? I met him when he, when he was
doing his podcast, right? The opportunity in this field is
insane. And I think that, you know, the
background right now, the live conference is a testament to how
quick things could happen in a short period of time.
This industry is full of opportunities and whether it's
at Pacific Bitcoin or the mining conference, this is the place to
be if you want to work in the industry and If you want to know
things about Bitcoin and Bitcoin mining that you didn't know
before. Anyways, I'm gonna pass it on to
Tucson. So Tucson, we were at a burger
bar yesterday, and we're eating burgers and we actually went
bowling there. That that night, I didn't know
we were going to end up there again.
And you were actually talking to me about something really
fascinating. He said, Nico the energy prices
are going to stay or they are right and for anyone doesn't
know a good Bitcoin, mining prices anywhere, ideals.
Anywhere between two to three cents.
Usually people get between five and six and hosters usually
offer between seven and eight, right?
And you say that that's going to continue to become more
expensive. Why is that is that due to
government policy? What's going on?
Because I think a lot of miners are hoping that govern that
prices are going to go back down again.
And you made the case that that isn't the case at all.
Why do you believe that? Yeah, I mean, we're watching
what's happening? I mean, there's a lot of
geologic political stuff going on right now.
There's people blowing up Pipelines.
In Europe, there's a lot of sanctions going on, there's a
lot of you know, anti oil and gas stuff.
There's a lot of deployment of unreliable energy sources for
the sake of memes or whatever like yeah.
But yeah, I mean it's a lot of stuff coming together and then
we're also in a very inflationary environment like
the dollars going away, everything price in the dollar.
I mean, There's no dollar menu at McDonald's anymore.
Look like that's, that's a good, you know, barometer for what's
going on right now. So Energy prices are going to go
up and it's gonna get harder and harder to, you know, find good
rates like two to three cents is almost non-existent.
Right now for 25 cents is almost non-existent right now.
I mean, if you're, you know, retail guy, buying 5, 10, 15
miners to host like nine, This is a good rate.
So that's what I think is going on.
I mean, it is rough out there and we're gonna see what
happens. So my pass it on to Tom Tom.
We got a chance to talk yesterday at the bowling alley
as well. And you were telling me about
your new, what you're launching. Your new site.
Hash Branch, right? Can you tell a little bit to the
people? What that is, why should they
care eccentric cetera? Absolutely.
Yeah. Yeah.
So hash branch is a listing review and Marketplace service
for North American Bitcoin, miner hosting companies.
We basically help these hosting companies that are popping up
everywhere, you know, put their name out there, put their put
their contract, their terms, like, what sort of things are
looking for? And then on, we try to find them
quality customers, right by just kind of opening it up.
And then on the other side, letting customers come to the
site, you can search sort filter and basically narrow down what
hosting options are out there. And then connect directly to So
we're kind of trying to build some of the some of the
technologies that I think are needed in the space and just
connecting people to each other and let them let them do
business and you know, letting the market kind of dictate where
terms go and where contracts go and we're prices, go and things
like that. So yeah, we launched about six
weeks ago and I've had some awesome awesome growth kind of
positively unexpected and it worried about 20 of the 50
states right now. We have you know, hosting
companies all over different sizes on Only one of the biggest
things I'm starting to learn is like, man, there's a lot of
smart people, you know, building right now, which, you know,
outside looking in. You might think, you know, all
men, Bitcoins Dead, all these things, but I just laugh because
I'm, you know, you know, busier than ever talking to some really
interesting people. Doing some really great work on
the mining side. So yeah.
So so it's interesting. So, you are building a site to
connect people to hosting companies.
How is this different than compass, for example, and what
are your thoughts on? What happened with compass?
Yeah, so The main difference I would say is that we're not
really trying to, you know, own the entire customer relationship
and make it one-sided, right? We're really trying to just
connect people in the most efficient way and build kind of
tools and services on top of that to kind of make the market
more efficient, right? So when you come to Hash Branch,
you can, you know, look at the list of the actual operators
that you're going to be working with, right?
We built in reviews so you can see what other people are
saying, you know about these services and things like that.
So we're you know we're trying to bring transparency them.
Market and just like let the, you know, let the best
competitive, you know, terms win.
And I think what's interesting is like, there's not one size
fits, all right. Like there's all sorts of
trade-offs. I mentioned that earlier that
people make and some people might be willing to pay a little
bit more for different terms, right?
And and and that's really cool to see.
So yeah, I think, you know, on the compass side and I think
there's some other players that have faced some similar issues.
It's like when your business models tied to, you know, a lot
of counterparty risk in your kind of hiding, maybe who you're
hosting with and you're maybe owning the Relationship, I think
that works in certain scenarios, but the downside is like, you
know, anything that happens on the hosting side, it kind of is
a reflection of your business because you're owning the entire
relationship. Obviously, there's different
ways to handle that, and I think people have made different
decisions, but, you know, we're not trying to kind of gobble up
the entire thing, we're trying to basically build the best way
for people to connect, and I think it's really needed
because, you know, started with hosting, but you know, I've had,
you know, meeting Alex and stuff.
Like there's tons of people in the repair side that are
interested in stuff like this. And I think, just, Opening it up
for the, for the players to communicate and transact and do
business with each other and trust each other.
Yeah, we've seen a lot of success.
So awesome. Congratulations.
Awesome. I actually checked out the site
yesterday you're showing on your phone.
It's super, super cool. And I think, I think a lot of
people are going to appreciate that.
Going to go back to Tucson Tucson.
I've known you for a long time. I've known you.
For when you started, you know, as I think it's called The Toxic
air waves and I saw you hustling, then, you know, you
landed the job. But I Kaboom racks.
I want to talk a little bit about Hope, right?
And Bitcoin and I think that's what Bitcoin really does.
It gives people hope and opportunity and eventually going
to ask this question. Scott tell me how you ended up
in the mining industry why the mining industry is this
something that you wanted to end up working before and if you can
go back in time and talk to Tucson whenever you got into
Bitcoin, what would you tell him?
What would you do differently? If I went back, I'd say, don't
shake when did that for a little bit?
Not very long. I got the use case of Bitcoin,
pretty quick, when I read the Bitcoin standard her about time
preference. But yeah, I just stumbled into
mining. I live in Arizona, could be a
ranks headquarters are in Arizona.
I was looking at working at a Bitcoin related company.
I had no experience with mining whatsoever and I've been Social
work for seven years and I just got burnt out.
I'm like, I'm not helping anybody until we fix the money
people are didn't continue to get sicker and sicker and so
it's like you know, if a bunch of people and our society are
getting poisoned, like the answer isn't to go and to the
work at hospitals to help treat people for getting poisoned is
to go figure out what the poison is and no way could hold on a
second. What do you mean poison?
Like it? Is that it so you know, I always
blame it on Fiat. Right.
Is Greg. Foster told me.
No, it was, it was, it was Tomer towards like you said that ten
times. Its, you're always blaming it on
Fiat. It is the poison due to Broken
money. Broken world.
Yeah, I mean, that's a big part of it, for sure.
I mean, it, it's, there's always going to be sick people.
There's always going to be broken families, but when you
look at people getting racked by our financial system, by the
stupids specular saving mechanisms that are not money by
being unable to build equity in their On Lies by these education
systems that, you know, are teaching people how to be, you
know, have no self-confidence and she's be, you know, low
self-worth, like all of it, coming together, most of it
being facilitated, and only existing, because of Fiat and
the ability to centrally controlled things, as a result
of that, it's a real big problem and it's only going to continue.
Like, I mean, if you look at what's happening right now, how
does this get better without going?
And fixing them up On it, does it.
But yeah. So I stumbled into Bitcoin
mining and became obsessed. You know, the work in social
work, you kind of have to be a masochist.
So I feel like I was predisposed like Bitcoin miners really
painful, the industry's wide open.
There's a lot of, you know, different opportunities and
money to be made here. I mean, you don't have to just
mine yourself. I remind myself a little bit,
but there's so much room to grow like Scott's talking about that.
Stream attorney in like we need, we need so much in this
industry. There needs to be technical
data, published their needs to be stuff like Tom's doing, which
I'm so bullish on it. Very, very happy about that.
Happy to support him as much as I can.
Yeah, I mean, it's not like, you know, if you go on bitcoin or
jobs, you're going to see all these jobs for for dabs pretty
much. And like the answer isn't
necessary. Ali, learn to code.
It's go identify, whatever the issue is, and come up with a
solution for it. Oh, that dude, that was
inspiring. I'd love that answer.
I'm going to go back. You know what it is?
Is because he has experience. He's done a podcast before he
gets it. Anyways, back to Scott, Scott
clearly successful entrepreneur, you want to add to what Tucson
was saying that message, right? And I want to make this kind of
the theme, right? This message of Hope, tremendous
opportunity in Bitcoin space in the mining space.
What are your thoughts? Yeah, no.
I think what he says, you know, it's resounding in my mind right
now, you know, the crypto currency Market.
It's obviously very well no Bitcoin Bitcoin Bitcoin is
volatile and a lot of times our emotions are tied into that, you
know, when price goes up price goes down and and you know, even
for myself If personally, I've struggled in the past with, you
know, my identity who I am and I've always tied That Into, You
know, how hard I work or how successful my company is or
isn't and, you know, so there's ups and downs.
So I hear what he's saying about, you know, the the mining
industry being difficult and also social work being
difficult. I mean geez experience there.
I think there's definitely some parallels.
Got your masochist for sure. Yeah, I live I let him bully me
all the time but but no you know I think what we're building here
is is an ecosystem to help people to be successful and and
to, you know, Wade out those those low times together.
Yeah. So, you know, we're bringing
like he said technicians together, service providers,
people have products for the mining industry and It's not
just about having fun getting together and partying but it's
about supporting each other and you know, hopefully we can
accomplish that together here. So where do you see the
industry? Five years from now, you were
talking about. There's a bunch of things that
needs to be done. Why are you saying that?
Why you saying that mining is difficult?
I want to know it, shouldn't it shouldn't be difficult.
No, one of my previous business partners.
He was very that kind of down in the dumps.
And he said, mining should be easy that this shouldn't be this
hard. Let's just plug some miners in,
you know, get rid of all the other red tape.
But it's not always not always that easy, it takes people.
You know, you can't do this by yourself, you can't be an expert
at everything, you can get good at some things, but you always
need other people to be there around you.
I can't even remember the original question.
You Ask me. No, I mean so and I think that's
one of the, you know, and I have someone in the chat, right.
That said it. He's like how can I - I think
that's one of the most perplexing things.
How would you recommend if someone wanted to get into
Bitcoin mining? How would you obviously tell
them to come to the mining conference?
But that's the cheat sheet if they're at home or perhaps, they
don't have the privilege, you know, or they're not in the
financial situation to afford a trip.
Right? How would you recommend someone
they just they want to get into mining.
Maybe they don't have a lot of money.
What would you tell them? Yeah.
Yes, there's ways to do that, you know obviously just kind of
learn a little bit about Bitcoin, learn a little bit
about the technology, maybe just just buy an old cheap minor plug
it in somewhere and figure out how it works.
You know, like how do you connect it to a pool?
How do you make sure that pool is paying out to your own
wallet? Very small steps.
It doesn't have to cost you a lot.
You don't have to go all in with a hundred thousand dollars or
something. Like day one very important.
Yeah. You know past past your
decisions by your spouse by your partner, by your friends.
You know don't try to hide stuff and and try to do it together as
a team, right? And then from there like you
said, there's online communities, there's conferences
like this. So we also do something that's
called a build in mind boot camp where it's a five-day you go on
to three hours every morning And we just learn as a community
together and ask questions with each other and go through the
process. One step at a time of everything
you need to know to get a farm up and running basically like
your first megawatt. And that's the most important
thing. You know, everybody comes in
with really big dreams and saying I'm going to build a
hundred megawatt site and you know, that that I mean that's
like hundreds of thousands of miners millions and millions of
dollars but getting your first megawatt or even just getting
your first Minor plugged in, you know, that you just got to take
baby steps. Yeah.
So let me ask you something. What are the forms of revenue
for minors, right? Because it's not only mining.
I think it's also selling machines at the right time,
buying the machines at the right time.
Yep, the definitely the timing. So if you do invest in a minor
you know, maybe when the price of Bitcoins really high and also
the price of the miners are very high, you can plug it in you,
you might make your money back over time.
I'm but it's not necessarily a less lost cause if you spent way
too much on that minor, you might be able to make a little
bit of your money back. If you sell that minor on the
secondary Market to maybe upgrade to a newer latest
greatest mining machine. But yeah, like they're saying
there's a lot of different things in this industry that
people can make money with and it's just a matter of figuring
it out there. There's a lot of opportunity out
there right now. So I'm going to ask this
question to the entire panel and feel free to pick up the
microphone if you want to answer.
How has it changed since the China banned?
Obviously we know for a fact that you know a tremendous
amount of miners moved from China.
They distributed all over the world but we know that a lot of
them ended up in North America, right?
How has the landscape changed? Is it more hopeful do you fear
about, you know, over concentration of the mining hash
rate in the United States? What your guys thoughts?
Yeah, I mean I think the obvious one is like you said, you know,
North America is kind of gobbled up a lot of the hash rate and
we're kind of at, you know, crazy all time times at all-time
highs in terms of global ashrae, which I think is awesome.
I think there's again there's trade-offs.
I think like, what we learned was that again you know, the
market found out that certain you know certain geographies
certain political systems probably aren't going to be you
know, great long-term you might get you know, darn near free
electricity. But you're you know, the risk is
that overnight, they shut you off.
Where I think. Absolutely.
You don't want to have a concentration one geography, but
I think one of the great things about, you know, at least the US
is that we're pretty federalized.
We have a lot of different states doing different things,
different policies here and there so you know what?
One state decides that doesn't really matter in most other
states? I mean, everyone kind of can
make their own decisions and I think the cool thing I've seen
is it's like it's kind of been Bottoms Up, right?
It's been very organic people on the ground saying, hey, I can
plug in an Asic here. Hey, I can, you know, I can grab
some power. Here, I think that like over the
long term is going to be the best way to strengthen the
network is, you know, Bottoms Up distributed and I think the u.s.
is kind of Paving the way for that.
Yeah, absolutely. So gonna have someone and
actually want to get Scott's thoughts and opinions on this
and it was Denver Bitcoin. He said he claimed that
immersion was over. And someone said, you know, this
is one of the comments from Sean says the machines are allowed
space. Heaters you want space that will
allow us. Don't even think about it in an
apartment. Immersion is an option.
But costly, what do you think about mining Bitcoin emerging
for anyone? That doesn't know right?
Usually, there's air flow rights fans that control the heat.
But you could also dumped them in the form of liquid.
I think it's like mineral oil or something.
Yeah, a dielectric fluid. Yeah.
So, that's really one of the biggest barriers to entry, as
maybe a home minor, with, with mining Bitcoin, they use very
heat intensive, energy, energy, and Intensive machines, and
they're very loud, very hot. So if you can get over that
barrier, it's a great thing. So some things that people are
talking about here at the conference there's exhibitors
and and speakers specifically talking about maybe how to reuse
that heat to heat your home and then also how to mitigate the
problem of the noise and Immersion is definitely one of
those things to look into for that especially if people are
going to be wanting to mine residentially or in an apartment
or in, you know, in your basement taking away the noise
and finding a way to dissipate that heat using liquid cooling,
it definitely makes sense. But like you said, it is costly
and it but in the last few years, I've seen those prices
come down. So you know, yeah you can buy a
simple rack and a power cord and plug your minor in and I can run
off air. But there's there's Associated
issues that come with that like your, your wife gets really mad
or your house gets we do idea. So, yeah, the price is coming
down though. People are figuring out the
technology in order to make that cheaper and make it better make
it more efficient and and yes some of the actual Features
here, like bit Main mikrobitti and and Canaan.
They're all kind of secretly working on on things in the
background that I think we're going to see very soon that will
make it easier. But, yeah, I think just walking
around this expo hall this week. You get some really great ideas
on that. Absolutely, you know, and I can
attest to that 100% unique. Oh, excuse me, I want to ask
you. Sonic question because I saw
your, I saw your talk yesterday and I thought it was very
interesting at the end when you were telling everyone what your
favorite Asic was. So maybe could you rehash what
you were saying on your favorite a sick or maybe just the idea of
excuse me. Guys of more hash may like more
hash power per Terror. Hash / you know the higher the
hash power coming out the A6, may not be the best move for
most people. Yeah, yeah, for sure.
I mean there's trade-offs for everything.
So I think everybody wants to sell their product.
I want to sell product, I sell Bitcoin miners, but Yeah, I
mean, okay, I want to I want to talk real quick.
I'll get to that but okay, so what Denver is referring to?
So I don't know if you can see it behind us but bit main has a
water-cooled product. What's minor has a water cool
product. Here, liquid, cooling is better
than air cooling air: presents problems.
It's just not as efficient as liquid cooling, and so that I
think that's what he's referring to, but immersion is not going
anywhere in the near future because there's are called
machines that can be converted. Did and profitably mind an
immersion, they kind of go back to your your question Opti or
Optimist. Yeah.
I mean my favorite Asic is the one that works for my situation.
It's one that I can get for a good price.
Oftentimes the brand new unit is going to be way more expensive
than an older unit. Might not make sense to buy it
just because it's that brand new thing.
Like as miners I think it's important to think about ending
up With more Bitcoin. Especially if you're looking to
mine it home and oftentimes it doesn't make sense to my home.
Oftentimes it just doesn't make sense to mind in general.
I mean if you have higher power rates is exclusive and you know,
the goal is you want to price the machine and sads estimate
your revenue and sad sand and ensure that you have more
Bitcoin in the long run. But yeah, there's a bunch of
different manufacturers. I think it's important to get
one that has Has been out for a little bit.
You know, if you go and you buy first production runs, it's more
likely to have issues. So is this if Denver Bitcoin was
looking at you? What would you say to this?
And he says, for audio listeners, I'm telling you.
I'm telling ya water. Cool going to make immersion
just impractical immersion. Might survive the decade, but it
won't drive into the future. And you any any thoughts about
that Scott? It really depends.
If the manufacturers start making these things from the
very beginning designed specifically for that, you know,
right now, everything's being retrofitted.
So yeah, I think it could go either way.
I'm not sure how well the manufacturers are actually
listening to their customers. But but yeah, we'll see, we will
see. We will see you heard that
Denver Tucson. I see you.
Of the micro. What do you want to say?
Yeah, I mean why are minors doing this miners?
Do all sorts of queer, crazy people.
We want to do things and all sorts of different weird unique
ways, we have diverse use cases for mining, the manufacturers,
make things, you know, specific way.
I think water cooling makes a lot of sense and I'm very
excited that this is being rolled out.
I think there's massive benefits to it, but being miners, we're
going to still want to do weird things.
So, yeah, I mean, I I think it's fair but you know, water cooling
provides its own set of headaches and issues.
You know. You need really.
You hear that Denver Tucson want to meet you outside.
All right guys. Yeah.
And and it does need to be said. That water.
Cooling is different from liquid immersion.
So yeah, there's a whole other topic though.
Yeah, I think like it'll just be, you know, different
different Technologies applied in different situations, right?
It's just going to be, you know, more Innovation is going to be a
mixed bag of what people want to use where they want to use it.
They can get it, you know, where they can deploy it mean, I think
the more the better so just like energy generation, right?
There's not going to be one size fits all so and I just wanted to
add to Scotts point, right? Immersion is when you actually
dip the chips into a liquid water, cooling is when you use
the water on the outside of the chip to cool it down and air
cooling is when you use are obviously.
But anyways guys this time for the movie.
Let's check it out. Yeah.
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Safe dot IO. All right guys y'all You know
the meme of the meme review. Tweets are the bullets and memes
are the artillery out there and it's information War.
You guys are on the front lines, continue to meme, people
continue to get the cause of actions continue to make the
funnies because we need to spread this information.
This first one, I don't think Stefan the bear was the first
one, but this is the first one I saw this morning.
It's a little Savage for those people that got caught up in
this mess, but it's a flag that says, Mark says, from Celsius
doxing today, Day. So guys, you know, we don't want
to jump on people's pain. You know.
We don't want to kick a dead horse, but this is why we tell
you guys to take self custody and do not Chase yield on these
very scammy yield providing platform anyway.
This next one on, one of our news yesterday, we covered the
EU banning all Russian, quote unquote, crypto asset wallets
and then we got this meme. I'm pretty sure this one's an
old one that's been rehashed but you had to put them out.
You got to pull out those I mean from your very deep folder
history in your phone and it goes the EU, how to stop Bitcoin
and an orange little bit coin, you can't laughing my ass off.
This next one, we're going to continue to double down on this
idea because it seems like the world is exploding around us.
Dylan Leclair with the standard MPC party meme.
They don't know the sovereign debt.
Bubble is bursting. Yes, it seems like the world is
unraveling by the seams as we speak.
This next one is my lightning Ventures.
And I'm a fan of lightning and it's way better than zap, a
pallet read Mo, but this is the same boat just blows, you know,
butter and he's the lightning Network and this is where we are
in the story. We're just looking back at
everyone else and we have the best tools.
So this next one is a continuation on all the things.
We tell you guys stay humble Stacks ads.
Very psychedelic Bitcoins dollars with Easter Island,
having laser eyes, so amazing. Amazing.
Next one, this one doesn't get me in trouble, but I think the
good message this from Roth miss you guys Banks and sure we stay
in debt, big Pharma ensures, we stay sick weapons manufacturers
and sure we stay at will or Legacy Media ensures.
We stay ignorant, government sure's, it's all legal and
voting ensures. It will only vote.
That matters is opted Bitcoin with your money and your feet.
Bitcoin allows, both of those guys, we need to continue to
spread the signal And then this last one just to wrap it all up.
This is my Norman remmaneh goes. Apparently I'm in a Bitcoin cult
so get in loser. The Bitcoin coal is better than
the Fiat cult. Yes you guys.
All you feel like Max he's out there are in a cult as well and
the Bitcoin Cole is a lot better.
You can't convince me. Otherwise anyways my mean review
score today is my my empty Kaboom racks coffee.
It's only my second one. That's the score.
I think I gave it yesterday but this is Second coffee today, not
second coffee in general such as coffee today.
But Kaboom X, Kaboom Rex. I'm gonna give it this mining
conference VIP Scott. Do you have your medallion Scott
has every ribbon put on his all of the flare, all the flare.
So I'm going to give it the VIP ribbon.
And oh I give these memes one free drink to the Friday.
Wrap party later tonight Scott has a money printer and when I
mean that he has he has all the free drink tickets.
He's like the Federal Reserve but of tickets to huh.
That's my my God. Okay there we go.
I heard that Scott's going to be leading karaoke later tonight.
Yep I heard that. Yeah.
Or was that the more highly educated?
Did Scott Oxford. Oh, God Oxford.
I know that I feel, you know, kind of ashamed right now
because the the score I'm going to give, I don't have it in
hand, but there's these wonderful Scott offered stickers
floating around. I'm going to give it a Scott
offered sticker. Those are some pretty good M on
Scott offered sticker. I'm going to try to pull up.
I don't know what you're talking about.
I think I have one in my backpack, over here, I can pull
out the little one. I got it.
I got it.
I'm going to pull it up. I got you guys.
That's not the one with me in the space suit though.
Oh it's a new one. All right, opt he's taking too
much time, Tom. Well, Opti finds it.
Can't find it. Yeah, there it is.
Okay. Wow.
All right. I'll give it a secret.
Kaboom rack her I found on my back after bowling last night
after hanging out with this guy all night, but it on there for
good luck. Yeah, he put stickers
everywhere. Kaboom anyways, guys, we want to
know if you agree with our scores, you disagree, let us
know down in the comment section.
Of course, make sure to sit join simply Bitcoins telegram group.
That's where you get a link of Bitcoin memes review.
You gotta go to www.ah.mil me / the simply Bitcoin Channel. 600
people in there already. You could join the party is
going to be awesome and check out Simply Bitcoin, unfiltered.
It is the written version of this show.
It's www.simpleandsensational.com
news. Anyways, Opti think we're
running out of time today. Let's wrap it up, brother.
I want to give a shout-out to our clothing sponsor, guys.
Check out represent LTD.com Opti and I wear the merch every
single day is decentralized. Merch shop T.
Get up and show the back bro. This is the best Peaceful Bell.
My God what? I am I'm a peace of mind over
here model it, bro, model it. See that there's the angel, the
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LTD dies. We do have some meme scores in
here. Nico, yeah, yeah.
I'm gonna get to that. I'm gonna get to that when I get
to that. All right, let's see what
everybody's saying. All right Opti.
Pull them up and I will read them.
Alright, alright, let's see, X demos, extend, most gives the
memes a Pacific Bitcoin ticket, very nice.
Very nice beaches you pins. I give the memes a piñata full
of scorpions. I don't know if I can pull this
one up on YouTube for Unique. Oh, that might get us in
trouble. Not definitely, not that one.
Mr. Robot rate. Those one dancing.
Niko. When he pulls multiple strikes,
that's right. I was getting excited.
Bowling those strikes. And his next one is I give those
memes, simply Bitcoin panel, high-five.
Let's go guys. Do it.
Thanks to you genus, the genus we will Scott, you're leaving me
hanging his hat. Oh yeah.
And Okay and also we're going to Diaw Janice is new.
Intro is going to be introduced on Mondays.
I'm really excited for that. I give them my tequila
scintilla. Tequila cool.
Desu. NE we don't approve of that.
That might ruin the minor Clash, Five Guys.
Hi Five the astrology matches up all right planet Earth.
Give those memes some Friday night bubs bubs and last but not
least, that's it. All right, we're balanced.
That's the one. Anwar.
There is one more alright hottel coins as they give those memes
weapons of mass destruction sponsored by the FED very, very
powerful. Alright guys, that was our show.
That was the simply Bitcoin Friday, special live from the
mining conference. We're going to continue the show
exclusively on Twitter spaces. I'm going to make laps around
the conference while Opti hodza huddle.
Is it down. Holds it down a little, little
slip there bottle. Is it down, and I'm going to try
to get people. So from bit main from what's
minor from Luxor and we're going to get their thoughts opinions
and it should be a lot of fun. So definitely if you're watching
the live stream, go on Twitter tune into the simply Bitcoin
space is that were co-hosting with Swan Bitcoin.
Check it out. You're not gonna want to miss
it. All right.
Love you all. Don't forget to like subscribe.
Share the video, that's what YouTube likes the most and we
will see you on Monday. We're taking Saturday off
because Niko's about to spontaneously exploded
traveling. And we'll see you on Monday for
a brand new episode of Simply Bitcoin.