Barn Talk - How To Run A Successful Bitcoin Mining Farm? w/Magnus Anderson

Episode Date: October 16, 2021

Welcome To Barn Talk! In today’s episode, we have Magnus Anderson on the show to discuss bitcoin mining, how the blockchain works, how to run a successful bitcoin mining farm, how he got into bitcoin mining, the future economy & much, much more. SUBSCRIBE TO THE PODCAST ➱https://bit.ly/3a7r3nR SUBSCRIBE TO THIS’LL DO FARM ➱ https://bit.ly/2X8g45c SUBSCRIBE TO BARN TALK CLIPS ➱ https://bit.ly/3BlZnqq LISTEN ON: SPOTIFY ➱ https://open.spotify.com/show/3icVr4KWq4eUDl7Oy60YMY ITUNES ➱ https://podcasts.apple.com/us/podcast/barn-talk/id1574395049 ADD US ON: INSTAGRAM ➱ https://bit.ly/3gaobdN TIKTOK ➱ https://bit.ly/3eJfftr ------------------------------- ***PLEASE NOTE*** Barn Talk is a significant break from the typical content viewers have come to expect from This’ll Do Farm. Please be advised that we will be exploring a wide variety of topics (some adult-themed) and our younger viewers (and their parents) should be advised that some topics will be for mature audiences only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Every Olympic dream starts somewhere. At first, it's just potential. But over time, with the right support and a few breakthroughs, it becomes something more. Make RBC Training Ground your breakthrough moment. Start your journey to Team Canada today at rBC trainingground.ca. Need a vehicle that isn't afraid to make a splash? That's the Volkswagen Touse.

Capable and confident, the Volkswagen Touse is fit for everyday life. Nimbled in traffic, agile and tight spots, and still spaciously. enough for weekend getaways. While available for motion all-wheel drive gives confidence in rain and snow. The capable taos, you deserve more confidence.

Visit vw.ca to learn more. SUV-W, German-engineered for all. Eventually, everything's going to be digitized. Like, our power grids are going to be faster, which we talked about that earlier. You know, our internet's going to be faster. Everything's going to be connected. So at that point,

what do people need to do to do to make money is content creation. How can you create content to consume for the mass of everything? That's what the future is going to be. That or we all die in a hellhole fighting over old dinosaurs cramped in the ground. The other thing I wanted to say, I don't think we really touched on this is there don't make, there's only a certain amount of Bitcoin ever, 21 million. the inflation side of it. You can't print more Bitcoin people.

That's the great thing. That's one of the best selling points on Bitcoin. Well, and we should get into hash rate. Right, right. Because that's all tied together. That thing right there alone is something that you should really, that should sell you on Bitcoin is what the problem we have today is inflation. And the reason we have inflation is because our government continues to print shit load of money.

And it just out of thin air. Out of thin air. And it devalues the shit out of our dollar. Think how much money that they're wasting by the way. Right. Like Elon Musk made that comment about like, oh, we used too much power. I did my research. You want to know something funny?

Our gold reserves use more power than all the Bitcoin miners in the world. Our gold reserves, where gold is just stored. Right. Nothing else. 21 million Bitcoin. That's it. That's the number will be and it'll always stay that way. Well, okay, we go back to that.

I want to say this because all of you know, if you've listened to one podcast, or you listen to 10 of them, but I'm a pretty big fan of Tesla, and I think Elon Musk is a pretty smart cat. And for the most part, I think he's very thoughtful in what he said. However, don't ever forget when he made that comment about Bitcoin, I thought it was very odd how he got really hot and then really cold kind of quickly. Yeah, I kind of wanted to fight him over that. Yeah, I did too.

But you got to remember, do you know who one of the biggest investors in Tesla is? Black Rock. And my guess is that when he made that comment and he got all giddy on Bitcoin and that really started taking, I bet you someone at Black Rock called him up and said, yeah, we'd really like for you to tone that down a little bit because we're not quite ready for that. I just found that very odd. And Black Rock is very involved in the politics of this country. And don't take my word for it. Do your own digging. It's all about what we say.

Politicians are pawns. The people that run this country in the world are the richest people in the entire world. They control what the hell's going on. I mean, I can't wait to be one of them. I'm going to tell them all hit the road. You're fired. You've screwed it up for everyone that's been here for hundreds of years.

Not just in recent memory, hundreds of thousands of years. We've been on this fiat system and it doesn't work. Right. Like, if you can take only one thing away from me being on here, besides like talking about Bitcoin, is the fact that our fiat system doesn't work. All of the food we eat and much of the clothing we wear comes from plants and animals that are raised on farms. Farms are different in type, in size, and even in name. Welcome to Barn Talk. What happens at the barn stays at the barn.

Until now, we're going to let it all out for you guys. all I ask for you guys to do, if you've got any value from the show at all, share it out to your friends, shared out to your co-worker, share it out to your family members. We're trying to grow this thing. We're trying to do some good in this world. We don't run ads for the show, and we're just kind of doing a value for value exchange. If you get anything from it, all we ask is for you to pay the fee and share the show. I'm here with my co-hosts, like always, Pops, Tork, Tork and more. Tork and more. Why don't you give them a little quick market update? I will.

So things have been kind of crazy around here. We're in the middle of harvest, so you may be listening to this. I don't even know what order you're going to be listening in this, but we missed a week. We just got too much going on. We're trying to do everything. So we had to skip out a week on Barn Talk, but thanks for sticking with us. Shout out to Swine Webb. Swine Web is somebody that we share a lot.

of we share a lot of thoughts back and forth and you can find our stuff on their website so if you're a hog farmer and um you're looking for information about what's going on in swine industry go to swine web jim edie uh shout out to you jim you're doing a great job up there today's market update and this this is um this would be the close on friday from cat's grain shout out to cats green Washington, Iowa, that's where we get our, we get our market update. But anyway, things changing rapidly. So the best corn price I could find was 5.30, and my guess is by the time you hear this, the basis will have eroded because we're right in the middle of harvest, so there's more corn coming down the pike all the time. 530 is what the best bid locally is for one of the feeders.

soybeans 1195 and ADM in Burlington and 1214 if you want to cross the river wheat 757 I just leave weed in because it's so damn high hogs 92 cattle 120 and somebody commented that I brag on the cattle price but they say the cattle price really isn't that high if you're buying all the corn to feed these cattle which I can believe that we should get somebody on we should get Kyle Menz Kyle Men's will be a good good I don't know if we could bleep that much though we'd just have to you really wouldn't hear him because it'd just be a constant edit. Explicit. Yeah, pretty much. We'd have to put an explicit edit on that. We can cuss a little bit on this one. Yeah, that guy... TDF, we're a little bit more clean,

but this is where we can let it out a little bit. Kyle, you'd have to say as clean as us, which I don't know whether you can do that or not. So this morning, so this is a current price. So Bitcoin, last time I checked, it's 47,900. So it's working back up. Ethereum, 3370, Tesla.

Ironically, Tesla is near and dear to my heart. Well, it's kind of funny how they had deliveries and they delivered 241,000 cars. And for Q3 produced 238, which that's a little bit, that's not quite so good because you can tell by that number, they are fighting the chip shortage a little bit.

But when you consider that GM deliveries or GM production was down 30%, I think. And Fiat Chrysler, I want to say like 19%, something like that. So pretty much Tesla is kicking everybody's ass. And today, all the analysts woke up and said, holy shit, Tesla's kicking everybody's ass. I can't believe it.

Even though the rest of us knew that, yeah, they've been kicking everybody's ass for quite a while. So that is, that's your market update. I worked through that as quick as I could, because we've got a great show for you today, and we want to get into it as quick as we can. So today, by the title of this, I mean, we're, we titled this digging for our financial future. And some of you may be scratching your heads a little.

Some of you may think that we've just plain lost our minds because you don't know anything about Bitcoin or crypto or really don't keep up on the financial market at all. But a few of you'll know exactly what we're talking about. And by the time we're done, we hope a whole lot more of you realize what we're talking about. and maybe do a little digging on your own and learn a few things. We're going to mine for knowledge about what might just be the greatest disruption coming. Well, it's not coming. It's already here. It's just as it ripples out what it does to the rest of the financial world as we know it. A few weeks ago, we had Craig Rupp on here, and he is what I would say on the bleeding edge of ag autonomy as far as autonomous planning, tillage, that kind of stuff.

Well, today we've got someone that is on the bleeding edge of cryptocurrency. We hope that we bring you some knowledge and value on a subject that is full of fud. There's a lot of fear. There's a lot of misinformation. There's a lot of doom and gloom when it comes to crypto, speculation, rumor, you name it. And that's Bitcoin and the mining of it. And so today we have Magnus Anderson, and he is a Bitcoin mining expert. And when I say expert, you know, that sounds pretty good, but you're around Sawyer and I. So the bar is not all that high to be considered an expert. He's also a future NASCAR race team owner. Hopefully. Oh, I believe you're going to get there.

Hopefully. Welcome to Barn Talk, Magnus. Magnus, welcome. Welcome, boys. Happy to be here. Definitely a really cool barn you got together here. Yeah, we feel like this is probably

the best use that we came up with because I didn't have to carry all the bales in here. I've hauled a lot of bales into this barn. And this is about the, this is about the most leisurely experience that I've ever had here. So I've got my,

I've got my insulated. glass with unknown beverage. Cheers to me. Cheers to Barn Talk. So we met you a few months ago and a shout out to Grant Hilbert because if it wasn't for Grant, we would have never made this connection. And we actually toured a Bitcoin mine and we're in the state of Iowa, Grundy Center, Iowa.

and it literally Sawyer and I and my other son Clay we all went and toured it with Grant and I was just blown away. Yeah, we were absolutely fascinated. It's really nuts.

It's crazy. I was kind of godsmacked by it. We left the place and we just were scheming. We were just like, we got it. We were cleaning all the cans.

We went around. We picked up all the cans and we're figuring we're going nickel, nickel, nickel, and we were trying to figure out how we can get enough money to invest in this thing. But I get a little bit ahead of myself.

So other than that experience, we don't know you that well. And I guess to start, let us know a little bit about what you're doing today. How you got there. How you got there. A little background, education, your previous jobs, stuff like that. As far as I know, you're not a Grundy Center native. No, no, I'm actually from Boone. Okay. Yeah, River Valley Kid. All right. Well, tell us what you're doing, but tell us how you ended up going down the path that you're at today.

Yeah, I mean, it's a long road, right? And it basically started in high school. I started building, like, gaming PCs, right? And I really enjoyed it. And, you know, my mom was like, hey, you know, DMA has like a good, uh you know more of a trade school for information technology right uh and at that time i was like no i want to go to iowa state uh and do aerospace because the plan was is to do aerospace and then somehow get myself into nascar building bodies for stock cars because aerospace and naskar are the

same thing it's hand in hand yeah apparently um and i went to uh like look at Iowa State and, you know, I looked around and I was like, this is bullshit. This is too much money. You know, the knowledge that I can learn is out there for everyone on their phone. Yep. And I can get in contact with someone who would be willing to teach me like hands on. Not a good enough return on my investment. Exactly.

Right. So I was like, well, you know, DMAX cheap. I can go to DMAQ. I can get my degree in a year. They said it's two-year program. I did it in a year because I'm crazy. And, you know, I went through. I learned a lot of valuable skills, but I wasn't working on Bitcoin miners, right?

I was working on servers and just computers in general. And, you know, that background's a lot different than what I do now, but it's still kind of the same thing in the grand scheme of things. and you know I graduated college and instead of doing anything crazy I went and got a job that's very respectful yeah what you should do right um and I went I looked around I couldn't really find anything and I was working a warehouse job for fairway I was throwing their their huge warehouse is in Boon all of it and I had the great joy of throwing produce with grown-ass men that didn't like me.

Sure. They didn't like me. And I think the reason why it was because they saw, you know, something bigger than than throwing produce for the rest of my life, right? Good, good paying job. You know, it's honest. There's nothing wrong with it. But, you know, they tease the crap out of me.

They're mean. They're brutal. And, you know, I was like, man, I need to get away from these guys. I need to go do something and, like, change the world in my way. You were met for more. Yeah. Yeah, right? And I sat there and I was like, okay, well, I need a big job.

I need to do something crazy. And I was like looking through Indeed and Facebook popped up, right? There's a huge, huge data center in Des Moines. It's a giant gray building. Couldn't tell it's Facebook unless you knew. And I applied for the job. I was pulling cable, right? Just pulling fiber and Ethernet.

and all that good stuff and, you know, just helping Zuckerberg get everyone's information pretty much. And, you know, I learned a lot there, but the same thing. Like, management sucked. Like, the people that were running it didn't know what they're talking about. Yeah. Like, at all. And it's like, you're working for, like, one of the richest and most influential men of our generation, and you don't know what the hell you're doing.

Yeah. Like, you should not be here. you should be somewhere way far away, but not here. And, you know, I went through and I still worked for them for a few months and months turned into a year. And I was like, man, I can't stand the management. I can't stand the fact that the people I work with don't know what the hell they're doing. And I can't stand the fact that I'm making nothing.

I like, I'm trying to, you know, build a race car and go race. and I can't do that on Facebook money. Isn't that crazy? You had your why. Yeah. But the people you're working for, they had lost the why. Yeah, exactly.

And if you lose the why, man, you need to leave. Because you're not helping who you're working for. Like, they're paying you to hopefully have you make money for them. Yeah. And if you're not making that money and you're not interested in that,

get the hell out. Yeah. Like, I don't know why they don't teach kids in school. this, but like I had to learn it through my dad, you know. So I was working at Facebook doing, doing my Facebook stuff, right? And a job opportunity pulled up at Microsoft. Biggest continental, biggest data center in continental United States is in Des Moines. No kidding. Wow. Did not know that. I would have never known that. I thought for sure you were going to say Nevada. No. And in the reason why

it's simple. There's not a lot of natural disaster. is to build your building to withstand. You know, there's enough people here that you can get somewhat decent techs if they're motivated, right? And then the other thing is, is that, you know, we have great renewable energy here. The price of power is dirt cheap. Cheapest in the country, just about. Exactly. So all those big companies are like, well, one of our biggest expenses is power.

Okay, that's covered. are there people here that want to work? Yeah. I mean, we're all farm kids. Like, everyone says we live on a farm. I mean, it's pretty much true. Got that blue collar vibe to us. Yeah, yeah, yeah, definitely.

So, you know, I'm sitting there and I'm like, okay, how can I get this job at Microsoft? How can I elevate myself from just pulling cables to doing something better than just like pulling cables? Yep. And I applied for a job as a, server technician working on servers of all sorts for Xbox Live, Microsoft Azure, any Microsoft associated thing I worked on. And that's kind of what you were went to school for.

You were working on servers while you were at DMAC, right? Yeah. So it's kind of what you were trained to do. What year would have this been? I graduated high school in 2015. I graduated in 2016. I was working for Facebook through 2017. And then 2018, I was like, man, I need to change. He almost could have booted you off of a server playing. Xbox Live. Playing Halo. I might have said the forbidden word.

I got ready. Yeah. Could have happened. That's not actually what the job is. It's weird because a lot of people think like, oh, man, you must be like crazy smart to work on a server. I'm going to be honest with you. I'm basically a mechanic for computers. Sure. Like, and it's hard for people to grasp that thought.

Yeah. You know, I'm replacing a part. Like, if your transmission fails, you're going to replace your transmission for your car, right? Yep. You know, if your hard drive fails on your computer, you're going to replace your hard drive. Right. It's kind of the same deal, right? At the end of the day, all this technology is just another machine, another form of machine that needs maintenance, that things go wrong on.

And then somebody's got to figure out why it's not working. Yeah. And thank God that they'll never be a machine that can fix another machine. There might be machines that help you fix it, but they'll never be a machine that can take the human out of working on the machine. So, you know, I got the job at Microsoft. I still actually have the belt. I wear the belt every day.

So you go through security screening. It's like getting into an airport. Yeah. That place is top-notch. They got big gates around it. They got security. Fortunately, they don't have guns. And a lot of them, you look like you could beat the crap out of if they wanted to.

It's like, who are you stopping? Paul Bartz. There's a lot of Paul Bartz. A lot of Paul Bartz. But, I mean, you know, you're walking through a bunch of security. Like, you got, it's funny because, like, it's the same thing away at Facebook, right? But, you know, you walk through the doors, you go into a man. trap. And for people that don't understand what a man trap is, it's like a small coat closet

with two doors. One going in, one going out. So you'll walk in, you know, you'll scan your scanner. You'll walk in. You'll do a biometric, which is usually fingerprints. So I always feel like I'm on like get out or get smart or whatever. You know, like super agent crap, you know, a walk through. And then it's all just computers. It's just all just giant buildings worth of computers. And, you know, the biggest thing that they're worried about is uptime, keeping them

cool, and making sure the power is cheap. Yep. Yep. So I was the one making them work. So you're just pretty much managing those three things, keeping the servers going as best you can. There came a point and I was just like, man, like this isn't fulfilling to me. Like, this

is boring. Was the pay better than it was? It was. Oh, yeah, the pay was great. I could have built, you know, a late model, a pro late model with that money, which I regret I didn't. But. So at that time, well, and maybe today. So is that your, is that your litmus test? Like, do you equate, did you equate what you made back to what kind of race car parts I could buy with its wage? Like you're thinking, okay, I have to work this many hours. Yeah. No, no, seriously. Seriously, when I was in high school, I would track my hours and I had like an Excel spreadsheet of like, this is how many hours of motor costs. This is how many hours, you know, rear fender costs.

This is quarter panels. This is a whole new chassis because it's like it's hard work. Like there's a lot of people out there in like the racing community that are like busting their ass just to be out there. Right. And I want to be one of those guys. So that's your dream. That's what motivates you the most. on all the hard days and everything.

Literally. That's your why. I don't watch TV. Yep. I don't watch, you know, anything besides racing. Like, I will get on every day. I'll watch a race on DirtVision. I'll watch a race on Flow.

I'll watch a race on IMCA TV. I'll watch the NASCAR race. I'll watch the indie race. I'll watch, you know, rally racing. I'll watch all of it. Just love racing. And the crazy thing is, is most of the kids that love racing are second generation. I'm first.

No one in my family has ever done this. It's probably a fairly small circle, the people that are that hardcore into it. Oh, yeah. Oh, yeah. Well, that's what it takes probably to get there, too. But it is because it takes laser focus to make that one. That's pretty cool. I think you said you're first generation.

I think you were born to do that. I think it was, you know, you just were born and it was into you. That's cool. That's super cool. I always say I'm the reincarnation of Alan Kowicki. That's why I try to tell people. That's pretty good. That's pretty good.

So you got the job at Microsoft. So what's your next step? You're kind of thinking it over. You're like, I don't know. It's just not fulfilling to you. What, how did you? What pushed you over the edge? I'm just like, COVID starts right.

And I'm like, ugh. And then they're like, oh, by the way, we're going to switch your hours. And there's no if, hands, or butts. It's only yes, sir. Yeah. Well, I'll fight the system if I need to. Like, I got other stuff going on. Like I'm trying to do like iraicing and put my name out there on that platform because, you know, it's more widely available for everyone, right?

And, you know, I was sitting there and I was like, you know, Bill Gates doesn't give it crap about me. You know, Bill Gates doesn't go crap about anyone. You might say he does, but he doesn't. So I was like, man, like, there's nothing for me here. and I you know uh my my motivation went down and you know they got rid of me thank god they did right because like a lot of the a lot of the what i see is like from facebook you know there's a lot of people that they should have got rid of and they never did because you know workplace politics right yep um so you know i kind of at the end there uh i quit but you know they're about to fire me sure

because i just didn't give a shit i was like every day I was watching NASCAR races and just collecting the check because I was like trying to find a job. Yep. And, you know, I saw a server manager, like manager job in Grundy Center. And I was like, Guthrie Center? Where is that? No, it's Grundy Center. Where the hell is Grundy Center, right?

I'm like, oh, okay, it's there. You know, Google mapped it. and I was like, there's nothing here. Like for a server farm for nothing. Right. What could this possibly be? What could this possibly be? Didn't say on the posting or anything?

It did. It did. It talked about Bitcoin, but it wasn't like, hey, you're going to manage a Bitcoin mine. Okay. So when you saw that,

when you saw that, it said Bitcoin. What was your, what was your, I guess what was your knowledge base as far as Bitcoin was? Did you have any interest in it? Were you...

I'm going to give the PG version of what I was using Bitcoin for, but let's just say your boy liked broccoli. All right. And there was only one true way to get broccoli easily. Yeah, I got it. It was the dark web with Bitcoin. So you were familiar with it. Yeah, yeah.

And I got it introduced to me like when it was very early on. Yeah. and my buddy wasn't explaining it to me. And I was kind of like almost similar to my dad, which is kind of funny. I was just like, so it's make believe money worth real money that you can trade for real things, but it's still fake money. Just like most people think right now. Yeah, yeah.

And he's like, yeah, pretty much. Just spend it. And hold on to something. That's the one thing he told me. He's like, don't ever let your wallet go to zero. Did you? No, I took that advice. That's good.

I definitely took that advice because I was like, okay, well, you know, at the time it was worth like nothing. Nothing, right? Like literally nothing. That's pretty insightful that you, that you took advice about from somebody that had an interest in broccoli. Yeah. We'll use that term. And you said, I think this is pretty valuable advice. And you kept it. Yeah. That's pretty insightful. Good friend. Who knew a broccoli dealer would know life lessons. There you go. Good for you. Good for you. you. Yeah. It's pretty awesome. Yeah. So I was like, okay, well, you know, I was around Bitcoin when I was working at Facebook. I got to thank Mark Zuckerberg because I stole some of his power for one of my first basic miners. Yeah. Yeah. Awesome. So thanks Zuckerberg for that like 0.7 Bitcoin that I mined while I

I was at Facebook. Really enjoyed it. Well, 0.7 Bitcoin today. Oh, yeah. It's a pretty good return on your time. That's like $35,000 that he made for me. That was probably better than what your donation to your 401k was. Oh, yeah. So did you, so you bought a minor and literally put it there while you were working there. Yeah, yeah. I like hit it. I hit it and I was just like, hmm, most of these people don't know what the hell they're doing anyways.

They're not going to know what that is. They're just going to be like, oh, that's just a thing that is here. You're right. Just like an index to the pop machine. Yeah. to one of the vending machines. So actually, I took the fans off of it because they're like really loud. Yeah.

Like that's the one thing people don't understand with like ASIC miners. And ASIC miners are application specific integrated circuits. So they're only designed to mine Bitcoin. Yeah. That's it. You can't play Minecraft. You can't go on the internet. Nothing else.

Nothing. Nothing. I hit it on top of the pop machine. You got it. That's awesome. Took the fans out and, you know, most of these are running on 220, right? Yeah. So you have to get a power supply that can run off of one 10.

A converter. Yeah, a converter, right? So I got a converter and I'm plugging it in and I'm like trying to sneakily put it up there. And no one was around, no one noticed. And, you know, it was interesting. when I tried to get it down because I did it in front of everyone. And no one knew what it was. No one said anything.

I just walked out. Security didn't care. No, was that your last day? No, I left it there for like six months. Just chilling on top of it. Just burr running and making money. Amazon presents Jeff versus Taco Truck Salsa.

Whether it's Verde, Roja, or Or the orange one. For Jeff, trying any salsa is like playing Russian roulette with a flamethrower. Luckily, Jeff saved with Amazon and stocked up on antacids, ginger tea, and milk. Habaniero? More like habanier, yes. Save the everyday with Amazon. So when you were done, you went and finally picked it up and just thought, you didn't take it out on your last day.

Were you ever afraid? Were you ever afraid that somebody was going to figure it out and take it? it with everyone through your mind or you were just like take it what are you going to do most at that time like yeah people knew what bitcoin was but like if you walked up and looked at an asic miner they wouldn't know what the hell it was right right no like you're like okay well it has one ethernet port going in and it's connected to power i don't really know what this does yeah right just going to leave it here on the pie machine so when did when did you did you take it your last day or yeah yeah that is that is so

I took it two days before my last day because I was like, you know what? Yeah, I'm not waiting until I walk out. I'm not waiting until I walk out because I wasn't going to go to those last two days. Right. I'm better than that. Like, they treated me like crap. I'll treat you like crap. I'm not giving you that.

Eye for an eye, right? That's so awesome. I'm leaving. I'm taking it. Did anyone ask you anything or they just let you? No, no, no, no, no one knew what it was. You know, I'm happy. no one was like, maybe that's a bomb or something. Like, oh, God, that could have been terrible.

Some people steal copier paper, but not you. I steal electricity to mine Bitcoin. That's awesome. So you had a little bit of knowledge about mining before you got this opportunity. Yeah, yeah. I knew a little bit, but it wasn't like, like, so like ASIC miners are relatively new in the grand scheme of things. Like everyone uses GPUs and, you know, many of, you know, many of, your viewers are probably going to be like, oh, that's the guy that tanked, you know, the price of GPUs and made it so expensive that I can't even play Madden on my PC anymore, right? Yeah. I'm not.

Quite simply, I have only mined with one graphics card in my whole life. I got you. AIC or nothing. Like, how I judge people on if they're a Bitcoin miner or not is if they have ASIC minor. If you have a GPU, you're still Rucky. Man, like you make a note. That's the difference. That's how you know.

Okay. But I mean, it's so good. Like, you're still mining crypto. You're still figuring out the stuff, right? But those are the high tier, top tier. Yeah, yeah. Because it's like graphics card you have all these uses for. AISIC miner has one use.

One use only. Yeah. Like when you think about farming, how many things are just one use? There's not a lot of stuff that's multiple use. Right. You're not. You're exactly right. Yeah, very purpose-driven.

Yeah, yeah. And when it's purpose-driven, it's completely designed to do that one thing. And to optimize the technology that it has to do that one thing. Yep. And with ASIC miners, that one thing is Bitcoin. Yep. And, you know, I started out with an S-9 miner. They make like 15 tarahash.

Now, I remind you, a tar-hash now costs 33 cents. One tarahash, 33 cents. All right. the new machines make like 110 um tarash yeah so geez crazy yeah crazy difference and and it's nuts because it's not that long ago at all that the s9 came out and it was 15 tarash and it was state of the art people were like wow people were freaking out and the crazy thing about the s nine miners just to get a little bit off topic they're rugged as shit like they're crazy i have i've seen videos of china like people like making their own hydroelectric

from like fan blades in the water and they're just sitting on the bank of the river just running bitcoin just burr mining away and it's just like god damn and out of the new machines oh they're they're they're they work right but they're chinese build quality so yeah and so they're made for a very narrow environment. Yeah. You have to keep them cool, clean, stable. Yep, yep. So, you know, a lot of our job is keeping them clean.

You know, we're in Iowa. And I think you guys know, they're harvest seasons right now. Yeah, it's probably a little dust disaster. Just to give you a little context, this is how dirty my shirt is. I have bleached. I have, you know, kept it. and water and borax and ammonia. And I can't get the dust out at all.

Right. Like, there is so much dust that goes into our mind. And, you know, it's a known problem to us. Right. And half of my job is taking the known problems that exist in the Bitcoin mining space and questioning why the hell we're doing it this way. Yeah. Because in the grand scheme of things, Bitcoin is so new.

No one knows how to do this. right right you're figuring out you go no no one can tell me like oh you're doing this wrong because i'm just going to be like no i'm doing it right yeah my way is the right way right right you're a pioneer of the space and so far you know my way has been working you know i started with two people in that mind working with me it was like one other dude his name's jesse um great dude uh little little bit of an angry man but that environment can make you angry though i mean when you're sitting there and it's just like the sound of Bitcoin miners constantly and it's hot or super cold or super cold and you're dusty and in you're in no no girl no good looking girls around

just a bunch of dudes just just just you just staring at Bitcoin miners like all day and get your nerves going a little bit it gets your nerves going I can't say there's been a few times that I've almost broken my knuckles on some stuff. Okay. Yeah, let's back. Let's take it back. We'll backtrack a little bit. So yeah, you go ahead.

You see this ad. Oh, yeah. And you're thinking, Grundy Center, Iowa. Yeah, so, you know, JP, who's the owner of mining store, great guy, really smart guy. I talked to him on the phone, and we kind of did an interview. And I was like, yeah, like, I'm really interested in the job. And just to tell you how much I love racing, he's from North Carolina. Can you guess the question that I asked him?

How close are you to Morrisville? How close are you to the center of racing? Was that like the linchpin? Was he close enough? No, he wasn't. He didn't like racing or anything. But I was like, okay, well, he's from North Carolina. He's got to be all right, dude.

He's got to be all right. Hey, they're good in pick production too. So, hey, they are. Oh, are they? Oh, yeah, they're the second or, we're first. They used to be first. I mean, I was always the best. Best hogs, best corn.

That's right. What he says? Best Bitcoin. Best Bitcoin. Yeah. We just do good at farming. Everything. Yeah.

That's the thing. Farming. Yep. But so, like, I got off the interview and, like, I'm talking with a few of my buddies. And they're like, bro, you need to go see this place because it does not sound legit. Like, I don't want to see you get, like, scammed. Right.

Right. Yep. Totally. So I messaged JP and I'm like, hey, can I come see your mind? Like, I just want to look at it, right? And mind you, I'm used to working in sterile, sterile, Bill Gates and Mark Zuckerberg data centers. Security up the ass.

There is security up the ass. There is no dust anywhere. Right. Everything is clean. Everything is top of the art. Like the companies that design a lot of the, the the the the the IT stuff they're custom ordering and custom designing stuff for them yeah yeah so I'm working with the best equipment like the best environment in the best environment with the best people

allegedly yeah for the best people and you know I walk in and well I drive up yeah drive up in my type bar at the time I would like had a big kick for cars so I had a corvette I had a type R I had a Nissan a few Nissan's, some Honda and more Hondas. Like, I had a lot of cars. Had an arsenal. Yeah, I had an arsenal. I was like a young Jay Leno before before I even turned 50.

But, you know, I pulled up, and it was on a gravel road, and you know, I get out of the car, and it's just like a metal building, but they couldn't afford to get a metal top. It's a hoop shed. It's a hoop shed.

Exactly. And I'm just sitting you're like, you got to be kidding me. They're running like machines inside of a hoop shed, like legitimately. Yeah. So, you know, I walk inside. I'm talking to JP and I'm just like looking around like, oh my God. So were you thinking like, how do you even keep this running from the experience you had? Well, yeah.

I was just like, how the how the hell is you like actually making money at this? Right. because like it just looked this is not not going to work like you are you are going to be losing money soon my friend because you don't know what the hell's going on right and no shots at jp like i know he knows what's going on but like the people that he had hired there didn't know what was going on weren't motivated didn't you know didn't want to push the industry right like facebook yeah kind of like Facebook. It's like everywhere I go, I got these people that, you know, don't want to do it. You're probably so glad, though, that you did have that experience before because then you knew

what a true data center actually, like, look like. Oh, yeah. That was a hundred percent vital in what we're doing. Right. Yeah. I feel like that was just a meant to be path for you. Because like, after I walked in there and like kind of looked around, I was like, man, I could work for like three years straight making this thing look nice, getting it running and, and never. have a day where I'm sitting on my ass just wondering what I need to do. Well, I want to say this because so, you know, full disclosure, we've been, we've been to this site and we've seen it a couple months ago. It was a lot more rough. Oh, I'm sure, and I'm sure it was. But I have to say that for me, and you can tell me if this is the same for you, seeing going there and seeing that was my first

experience where I would say, and I'm showing my geekness, to me it was like, it was kind of like stepping into Star Wars. And the reason I say that is because one of the things that always fascinated me about that whole genre was traditionally technology in the world today, the world we have, is all like what you experienced at Facebook. Oh, yeah. It's very sterile. It's all professional. But if you immerse yourself in the, you know, as a kid growing up in the Star Wars world, it was all very, it was all this super, super amazing technology that existed in this dirty, filthy,

just like sketchy, rugged, rugged environment. And you never see that. You never see that until we walked into that. Bitcoin mine and I was like, holy shit. My thoughts were like, I just had the same thoughts as you when we pulled up. You know, I was imagining this, you know, immaculate building. Yeah, out of center, you know, with amazing landscaping and a big fence and all the lights. We pull up and I'm like, all right.

Yeah. A gate. A gate with the arm. Right. Yeah, exactly. All that stuff. I pull up and, you know, I was thinking kind of the same thing you were and I walked in. and I truly, after we talked and we toured the mine and everything,

I was like, these guys are like truly pioneers of this space right now. I was like, this is so, like, how many people know this even exists? Like, that's what I was like so amazed by. It's so crazy because when we pulled up there, like, we didn't, until we talked to you, we didn't know if we were in the right place or not. Right. Like we assumed, we're sitting there, okay, well, there's all this power and there's all these fans. And it looks like a bunch of computers.

I think we're in the right place. But is it? Are we? Right. Well, it's crazy. That's the way I like it, honestly. Like, I don't want people poking around at my mind.

Right. Because you're going to have problems. Yeah. Like, there's a lot of money being made here. And there's a lot of money in machines here. And we take that real seriously. Yeah.

As you should. As you should, for sure. Yeah. Like, when you guys came, it was kind of funny because I was like in the middle of like a ton of projects. Yeah, I remember. And I was just like kind of sitting there like, oh, God. Who are these guys?

I wish they kind of leave, but they're kind of cool. I don't want to keep on talking to them. Yeah, it was awesome. We talked for like two hours just outside after the tour. We know, we love Bitcoin, as you guys know. I would say to anybody, when you see something like that, it was like a paris, I feel like this is a big word, but I don't know how else to say. It's like a paradigm shift.

Like when you see that, and you realize you realize what's going on there and the fact that when you hear you know when you bring up when you bring up Coinbase or you bring up Cash app

and you look at the price of Bitcoin and you see a story about mining it's all abstract yeah that's all that's all like oh yeah whatever this that when you see it in action and you see how that

actually works. I mean, it's a whole, it just changes your whole perspective of, of that technology. Yeah, little did you know, like when you're buying or trading Bitcoin on cash app, there's a guy in Iowa with a mullet and a Bitcoin mine at the bar and that's making it happen. Yeah. No, yeah, it doesn't even run through your damn mine. And that's a lot of, we're going to get into the technicals of mining and everything because I feel like that's a big question people have. Oh, yeah. Some people don't even know that's how Bitcoin exists. Like, they don't even know how it's, well, you know, First we mine the Bitcoin or, and then we process it. Yeah, no, what's funny about that is, so we on, so on our, on our YouTube, our, whatever we want to call it, our partner channel.

This will do farm. This will do farm is kind of like our farm life where we chronicle what we do on with raisin pigs. We had a tile that needed to be fixed. At my hog barn. And so, when we built that building, we cut some tiles, the field was a pattern tile. So we had to get an excavator in there. And Sawyer was like, he shot it. And then he's like, I'm going to put a quiz whether people think we're fixing tile,

whether we're building a connecting core to build a new barn, or whether we're mining Bitcoin. Oh, hell. And at least somebody, I don't know how many people, but. I don't know if people, I want to say, I hope people like hit mine Bitcoin and like just did it as a joke, but I'm sure there were some guys that clicked it and were like mining Bitcoin. I guarantee you most people of your age understood. We're like, aha, funny, mine and Bitcoin. But I would not put it past anybody 45 years and older looking at that going, well, gosh, you think there's, maybe there's Bitcoin underneath my farm ground.

Maybe we should dig some of that Bitcoin up. I've heard that's pretty valuable. Well, it's kind of funny you say that because, like, sometimes, like, the dumbest question I get is how deep is the hole? No, no, no, no, no, no. So, like, I'll tell him like, yeah, I work as a Bitcoin miner. Like, most of the time, it's when I'm hanging out with my dad's friends at the bar. Yeah. Like, I hear this, this question, right?

And it's crazy to explain this to someone that has no idea because, like, most of his friends still have flipped phones. Yeah. Like, they don't want them. They don't have computers in their house. They want to just be left alone, which is totally fine. Yeah, more power to you. Yeah. Honestly, some days I wish I was.

like them. Right. But, you know, when I sit there and explain it to him, I'm like, okay, so let's first talk about the dollar. Let's talk about what we have right now, all right? That, you know, the thumbnail is going to be me ripping that dollar. And right after I ripped it, I said it's worth four cents. It's not worth a dollar. Right. It's not. Our buying power is decreased so dramatically since, like, since you were a kid. Yeah, so basically we went off the gold standard. Yeah. And once we went off the gold standard, we entered a world of what we can, we talk about

it on here, of what you call fiat currency. And fiat currency is basically the dollar is only worth what you, what someone is willing to give you for it. And we've been in, whatever it's perceived value is. And within the world, because of the military industrial complex, which we won't get into that today. But, you know, we've carried a big stick around the world, which has given us the ability to convince everybody that that Pepsi is worth a dollar

or it's worth whatever, which when I was a kid, it was worth 30 cents. But anyway, it's, we talked about this before we even started, that this whole idea, and I'm getting ahead of myself, but people are like, you know, well, you know, how's it worth anything because it's not really here? Well, your dollar,

you've grown up your entire life using a currency that is not tied to anything of any substantial value. It's only your perceived value and the fact that everyone around you has that same perception. When in fact,

it might not be worth anything. Might be worth four cents. Well, just keep printing it too, which decreases the value. I mean, that's the biggest thing. I mean, most people probably know that's why it's devalue because the government's printing money. If you don't, if you don't know that, then kudos to you. I want to come to your house. Man, we need to sit down and have a belong to time.

No, we don't. If you've made it this far and you don't realize that, you're fine. Just keep, I, because like I said, like you said, I kind of, those people, I kind of like, God, I wish, yeah, I wish I had that. I wish I was just like, it's just kind of like what you said with the guys at the bar, you know. And dad and I speak about this sometimes. Some days we are like, man, he would just be nice to just be like not give us, not shit. Yeah, just take everything at face value and be like, yeah, it's a nice day.

Just living, living life and not, because it's, you know, you know, it's hard doing stuff like that. And it's hard with kind of sometimes what we do, but there's no, I mean, there's no fulfilling. There's nothing. Like some days when you're having bad days, that's what you think. But then the next day comes, you have a good day and you're like, I wouldn't want to be doing anything else. The million dollar question on that is, if I knew,

if I knew that I was, that I was going to be able to arrive at death's door in complete and utter ignorance and that this experiment would last me till I, till I'm dead, I had 100% be on it because if you knew you were going to make it out with the pipe dream that we're on,

more power to you. My problem is I just wake up every day and I'm like, I don't think I'm going to make it. Yeah. I think I'm going to, I think it's going to get hard. I better buy more Bitcoin. Yeah, yeah. You don't think it's going to lie. The dollar's going to last. Right. That's the thing. So if you don't have that, then yeah, then it doesn't work. Well, I mean, like, the crazy thing to me is like, people are like, oh, it's make believe money. And then like, it's like, do you understand our financial system? Do you like truly understand that? Yeah, go into that a little bit. Because I know you wanted to talk about that. So for the first big bailout for banks, by the way, banks are not owned by the U.S. government. Our Federal Reserve is not owned by the U.S. government for the most part. There's a lot of middleman. There's a lot of bureaucracy, right? Everybody's got to get their little bit off of it, right? Yep. So they are taking the money that you have in your bank

account and they're being like okay well Bob has $100 yeah but Sally over here she wants to get a loan for $97 so we're going to take this virtual money that doesn't exist that's in your account right right and we're going to take it and we're going to give it to Sally yeah and uh yeah you're still going to show $100 but you don't really have that $100 like no one does yeah and and that's what's like crazy to me is like people don't understand that with like just our dollars like our money right now. Yeah. Because it's like crazy to me that people are like, oh, well, Bitcoin is fake money.

When? Well, it's like, well, the dollar in your pockets fake money too. That number that's on your bank account. Yeah. When you check your apps, fake money too. Yeah. And then like the thing that like started Bitcoin is like, uh, Shatoshi was like really fed up with the 2008 financial crisis.

Yep. Because what was it? It was third party people making money off of your money. giving you way more money than they should ever give you because you can't pay it back, by the way. And it crashes everything. Right. And we have to bail them out. You know when the earliest bailout for the banks was?

2,000 years ago. Like I said. And we're still doing it. Right. We've got a solution now. Everything evolves. Like if you look at farming, like look how far we've come. Right.

Our combines literally drive themselves. Right. And then everybody used like not even a hundred year. years ago, everybody had to have a little bit of farming going on their house. Like, everybody was sort of a farmer because you had to to feed your family. And now, dad and I take care of 20,000 pigs. We, you know, row crop. And it's just two people because we've adopted, we've adopted technology.

We've got better. We got smarter. And it's crazy to me that you said, you know, 2,000 years ago, but yet we're still going at the pace that we've been going at. But I think Bitcoin might be the solution. Do you believe it is? Cryptocurrency is the solution. Yep. Right. So this is the analogy that I kind of tell people, right, with different cryptocurrencies. Okay. So in our dollar system, right, we have different dollar bills. We have a $100 bill. We have a $20 bill. We have a $10 bill. We have a $5 bill and we have a dollar bill. We have a $2 bill if you like to tip your strippers. They always like when you give them that $2 bill. The $2 bill is like the weird, unique, corky.

Classy. Right. But if you were going to store wealth, right, what bill would you choose? 100, right? 100 bucks. Because it's worth more. And it takes up place space because 100 ones is a lot of ones. Right.

That is. Yep. So think of Bitcoin as that $100 bill. It's to store wealth. Yep. Right? So I keep my Bitcoin to store for. wealth. I will trade Bitcoin occasionally to share the wealth. And when I mean share the wealth,

I mean I'm literally sending Bitcoin to my friends and telling them save it. Yeah. I want to make sure that your kids, kids are good got everything. That's a good, that's a good fucking friend right there. Yeah. But that's what Bitcoin is. Yeah, I'm your friend. Why aren't you? I don't have enough yet. I mean, I'm going to get an education. here though. Good. But so, you know, you're going to store your wealth with a $100 bill, right? So what's the $20 bill?

Well, there's a lot of options, right? There's a lot of cryptocurrency out there. I think that's, I mean, that's going to get sorted out. Yeah, it's got to get sorted out. You're going to see who the winners are and who the losers are, right? And it's almost like it's a free economy, right? I'll just, I don't mean to interrupt you, but on that, like, I feel like, so I've made some, I've made some bets on that side of it in the fact that, so I think, you know,

I think Ethereum might be one of those. Definitely is, by the way, application specific. It's for applications. Yeah. Like, that's your $20 bill right there. Yeah. Because you can, most people spend $20 bills. Yeah. Right. You use your $20 bill all the time. You're not going to, you don't really want to walk around with $100. No, right? Because you're going to get robbed, right? Exactly. Anybody that knows that you've got that. Yeah. And I use that example. I've got Cardano.

I bought some Cardano because I think that might be a possibility. Other real cool one. I like that one. But the vast majority of the money, the Fiat money that I've invested in that space is in Bitcoin because to me, I feel like that is the most solid asset. So to me, it's like, it's like buying gold.

So Bitcoin is my gold and I'll dabble in all this other stuff. And I think it's going to work. I feel like, but the thing is, one of the most valuable things I think I ever learned was from a guy that talked about this. the biggest risk that you face is what you don't know that you don't know. Because we all have the risks that we know, and we all have the risks of what we're pretty sure that we don't know, but what will really screw you is what you don't know, what you don't know.

I mean, because that's just like, and so Bitcoin to me is that's my don't touch, egg. And then if I want to dabble in whatever, if I wanted to buy some doge coin, I'd go buy some doge coin, but I don't. I know, I don't. Well, I mean, I don't know. It could be. Well, it could be, but I'm just saying for me, and if it all, so what I guess what I'm saying is, at the end of the day, if Cordano or Ethereum, if that ends up not being the best use case that it gets the traction, it gets going, and it is the $20 bill. Yeah.

I'm okay. I mean, I'll be pissed. Yeah, because you don't have that $100 bill, but oh, well, you still got a $20, man. Yeah, but I've got my Bitcoin. So are you confident that Bitcoin can't, do you think Bitcoin's the king of crypto and do you think it can stay that way?

Bitcoin's the OG. And you've got to remember, OGs always stay in power. And we're talking about a currency, and not a person. and those don't die. Right. And I, you know, I was a little skeptical on, you know,

because there was a lot of skeptical. There was a lot of questioning people. You should question it. That's the big thing that I tell people. Like, you should question what I say and do your research and come to your own conclusions. Yeah. Because if you're not, like, man, you need to go back to school

because that's what they taught you with book reports. It's what, think about what you're reading and what you're, you know, dissolving into your, your brain. Right. Yeah. And the whole El Salvador thing where, you know, El Salvador's, they're fully on the Bitcoin standard. And I mean, it seems like it's working okay. I saw a stat that 50% of El Salvador people, you know, they have adopted. 50% of the population. 50% of the population's adopted it. And if it can work, that to me is going to be my like, okay, this, this, if a country's taking it and it is evolving and it's going good and most people are.

it's working well and it's efficient, then I'm going to be sold on in 100%, which I'm about a 95. Yeah. Well, here's the thing. And we won't get off on this hard, but so if you're a country like El Salvador, what's your downside?

Because here's the problem. You're on the U.S. dollar, and if you're a country using another country's currency, but you can't print that currency, you're in trouble. You're fucked. And you're screwed, so I might edit that out. Because you get, yes, you get the benefit of using that currency, which is known and can go anywhere around the world.

But you get all the inflation and you can't do anything about it. Yeah, you have no way of voting in officials or doing anything. You are totally along for the ride of all of the politics of the country that you are using that currency. Exactly. And so if I'm El Salvador, obviously there is risk. Bitcoin is not nearly as stable as far as the price. I mean, the dollar doesn't move. It moves.

It moves nothing compared to what Bitcoin moves. But you are in charge of your own destiny and you're giving your people a chance to not be tied to another country's politics. Exactly. So to me, I'm surprised. I've been really watching Nigeria because Nigeria is a country where it's interesting. They're in the same boat. But differently.

When they first started, like they had a form, I watched a video on this like a few months ago. Yeah. But like when they first started, they had like something similar to like a cryptocurrency. Like you bought in, you had your token or whatever, whatever they gave. And you went and spent it. But they're like, okay, we're only going to have a certain amount of these. So we don't inflate this. Right.

Because we've learned and involved, which a lot of places haven't. Yeah. And it's funny that a third world country is evolving with like financially and going to become financially fit. Like I seriously, uh, believe that there's going to be countries that we never expected that are going to skip, uh, you know, everything that we've created so far. They're going to go straight to. They're going to start writing.

They're going to start writing. They're using renewable energy. They don't have to worry about oil. They don't have to worry about oil. They don't have to worry about, you know, anything besides what they have. This is the new industrial revolution. And yeah, it really is. 100%.

Yeah. And these small countries are figuring out, this is our chance to get out from poverty. This is our chance. Well, it's your chance to get out of the monopoly of the World Bank. Right. And of these countries that have dictated to you how your economic system was going to go and put you in a spot and say you're here. Yeah. Yeah.

Yeah. I mean, an amazing story. that I read was a woman in Afghanistan, she got out, thank God. Yeah. She, instead of using their monetary money that they used there, she was like, okay, I'm going to pay all my employees in Bitcoin. I'm going to accept our currency, but I'm going to convert it straight to Bitcoin. Yep. And I'm going to pay everybody on the team and me. It worked out.

Well, so a few of the people say, their Bitcoin. Some of them, you know, exchanged it and got money. And she decided, okay, well, this, this Bitcoin is, is able to get me out of here. And she moved to America. And she still pays all of her employees in Bitcoin, by the way. But in countries like that, where there's issues that are beyond, you know, your problem, right? Yep. it allows people to get out of the situation that they want. Yep. And it makes them financially free.

And all of us want to be financially free, but like none of us are. Like, I'm not. Yeah. I'm not. I'm not there. Yeah. Yeah. Right.

So how do we, how do we, first, how do we solve the problem with like our money not being worth anything if we print it all the time? How do we solve, you know, um, middleman taking our money? Exactly. handsomely taking our money. Like, why, why is it that we go to an ATM and we get charged the $3 fee? Like, that's my money and I need it now. Like, where's J.T. Wentworth, right?

Yeah. That's a good plug. But, you know, how do we solve these problems? And for the most part, that's what motivated Satoshi to figure out Bitcoin, right? So for the viewers out here that they heard me say, Satoshi a few times. Satoshi is the guy that created Bitcoin. And eventually it's going to take over, right?

But it has to be accepted first. And the first part of accepting something is understanding it. And, you know, it took a few years for everyone to understand what he put out. I wish I would have understood it a little earlier. I wish I was buying some broccoli with it. So I could have got a little taste of what it was. You're getting this money, right? and you know everyone's looking at it right everyone's understanding what it is now but you know i hear

all these things uh and all all these people like dan pina you guys yeah yeah whatever i want to punch that guy in the house putton's all behind it bro 30 000 dollars for his seminar to have an old man that probably has his brain rotting in his head right now scream at you about how you shouldn't have friends. You shouldn't do it. Bro, it doesn't matter what you do and what your personal life is. If you're, if you're on the path and you want to be on that path, you're going to get it done. Right. And that's all he has to say. You don't need 30K for that. Right. Just set it right now. Yep. But Satoshi, you know, was fed up with all this crap. Was fed up with the middleman with, with, with even Dan Pina. I bet he was, I bet he hates that guy. Yeah. Whoever he is. Yeah. Maybe Dan Pina is the guy behind Bitcoin. It's his alter ego.

Yeah, he just wants to set everyone like, to question him. Right. But everyone started to question it. And, you know, at Bitcoin's infancy, it was used for less than legal things, right? People were buying drugs. People were buying weapons. People were, but, you know, the U.S. dollar does the same thing. I hear this argument all the time.

I think most drug dealers are still going to accept cash over Bitcoin. And I think this is, I think I got this from a very reputable source. Even at where we are today, the percentage of Bitcoin that's used for fraudulent transactions, which I mean, that covers everything from Pornhub to cocaine. I mean, it, as a percentage of the circulating supply, it's way smaller than what the U.S. dollar is. Yeah. If you want to get into fraudulent shit, the preferred method of doing it is the United States dollar. It's not worth anything because people believe it.

It's not truly worth anything. But it's accepted everywhere. It's accepted everywhere. And most of it is fake, right? So you're saying people are bagging on Bitcoin because they say it's used for illegal purposes. Yeah. Yeah. And it's like, how can you think this?

Because U.S. dollars, it's clearly used more in illegal activities. But so, well, I just hear, I just want to say, I mean, I think we got a pretty good overview of how Bitcoin works. But like, it's, we need to really, I feel like we need to, like, talk to these people that don't have no idea. They're saying it's fake money. It's fake money. I don't want in it. We need to, like, say, this is what it is. This is how you need to look at it.

I know you went in a little bit on it, but. So, I think we really need to nail that in. Okay. So how is Bitcoin? made first. The biggest question I get asked every day, right? Okay. So, ASIC miners are involved or GPUs or anything that can process. Okay. Those processes are going to be done to create a ledger. So let's say all three of us are in a poker game right now. Okay. We don't have any money. We don't have any chips. We don't have anything to barter with. Okay. So we take our piece of paper right

here and we're going to write down our bets. You bet $20, I call, I bet $20. You call. You bet $20. Okay. The hand goes on and one of us loses, right? Okay. Well, if all three of us have a ledger, that means that we can be like, okay, well, this is the right ledger. What do you guys think? You guys agree? And for the most part, I think all of us are pretty... We agree, and you lost or That's $20. I agree that we're not shady people. So, you know, we're going to agree on it, right? Yep, right.

Okay. So think of that poker game, all right? It's happening thousands of times a day, okay? Over and over and over and over. And that's a blockchain. That's the ledger. That's at its truest form. That's what Bitcoin is.

It's just a giant ledger. And it's funny because the same thing can be said for our Fiat financial system, a lot of it is just a huge database of numbers and amounts of money that don't exist. Yeah, because we are so far past the stage where actual bills, yeah, hundreds, 20s, five, tens, ones can actually move. In fact, when you go to the bank, when I, when I take a check, so I get my, I get, we get our, we get our hog, our rent check from the company that pays us to raise pigs, rents our space, we get that check digitally.

Those bills don't actually go to my bank. It's just zeros and ones, zeros and ones. And then they turn around and they loan that out. And they write a check to somebody to go buy this or buy that, and that check comes in, and it changes the ledgers of zeros and ones. The actual amount of physical currency that moves, it doesn't move.

It's not even there. And so in that case, in that situation, cryptocurrency is no different. It's no different. Yeah. Yeah, exactly. Because we're not truly running this world on physical dollars. It's all just an electronic ledger.

Yeah. Of if somebody actually called an end, somebody actually went to a bank somewhere and said, I want to withdraw 100,000, dollars in cash. They would shit themselves. They would shit themselves and they'd say you could have it next Thursday when we get the truck to come in to drop off.

You know, whatever the closest regional bank is that could get that much cash and send it to you. So it's so much some, like, I don't think people realize how similar our Fiat system is to what crypto is, except it's just not explained to them that way. Well, they always think, they just think, this is what they think, they want to hold the Bitcoin. Yeah. Just because even though we don't, yeah, why does that matter? Because when, even though we don't use cash, like we don't use cash near as much as we used to. And everybody that's watching or listen can agree to that.

And it's just like you're saying, the way we do it is most of us have a debit card that's hooked up to our bank account. Or a Venmo or a PayPal or whatever. And it's more like a ledger, just like how Bitcoin's run or, yeah, Bitcoin Cryptos, in. So it's really, yeah, you can't physically hold a Bitcoin, but you probably don't hold much cash with you anyway. No. And you don't really... I haven't had any cash since my boys were about 12 years old. Oh, yeah. Because then when I had cash, it was always gone. The only time I need freaking cash is when I go to an ice cream store that doesn't have a goddamn square account yet. Yeah, I know, right? What's up with the ice cream stores? Get a damn square account so I can run my card. Man, so I was, just to get off track a little bit

with like how crazy money has changed right everything used to be coins then we went to dollars right and then we went to debit cards and credit cards where are we going next well it's here yep and it might not necessarily be bitcoin it might not be any of the cryptocurrencies that are around but uh you know we we talked about the blockchain right so we're at blockchain so there's the blockchain, there's a ledger, everything's good, everything's great, right? So you need to be incentivized to be one of the people that's like, oh yeah, that's, that's the ledger. Like, we all made the bet for $20 and we called, right? So how do we motivate people? Money, okay? So we as Bitcoin miners, right, are running these ASIC miners or maybe the people at home that are

watching this or running GPUs or maybe on their computer CPU for some people. But you're getting incentivized to do this so that it's transparent with everyone. Because we don't know what the ledger looks like for Fiat money. No one will tell us. And no one, no one. You got to, no one, right? But we could all look at the ledger right now. For the blockchain.

For the blockchain. By the way, it's really, really big. How approximately, do you have any idea approximately how many nodes? It's a node, right? Yeah, how many, yeah, there's how many block, how many, what, how many minutes or how much information goes into one block? One block is like 10 minutes. 10 minutes of information that's going on the blockchain.

Yeah. Can you kind of explain like what the blockchain kind of does? Isn't it make sure all the information is legit? Yeah, yeah. So, so like I was saying with the poker analogy, so like think of those blocks. So like we're playing a whole game, right? So we've done like five hands, right? In our papers filled, right?

Okay. So eventually everything's going to be digitized. Like our power grids are going to be faster, which we talked about that earlier. You know, our internet's going to be faster. Everything's going to be connected. So at that point, what do people need to do to make money is content creation? Yep. How can you create content to consume for the mass of everything?

That's what the future is going to be. It's going to be. That or we all die in a hell hole fighting over old dinosaurs cramped in the ground. Yeah. The other thing I wanted to say, I don't think we really touched on this is they don't make, they don't, there's only a certain amount of Bitcoin. Yeah. 21 million. Yeah, the inflation side of it.

Yeah. You can't print more Bitcoin people. That's the great thing. That's one of the best selling points on Bitcoin. Well, and we should get into hash rate. Right. Right. Because that it all, that's all tied together.

That thing right there alone is something that you should really, that should sell you on Bitcoin is what the problem we have today is inflation. And the reason we have inflation is because our government continues to print shit load of money. And it just out of thin air. Out of thin air. It devalues the shit out of our dollar. Think how much money that they're wasting by the way. Like Elon Musk made that comment about like, oh, we use too much power. I did my research.

You want to know something funny? Our gold reserves use more power than all the Bitcoin miners. the world are gold reserves where gold gold is just stored right nothing else 21 million bitcoin that's it that's the only that's the number will be and it'll always stay that way in the 21 yeah 21 million no hey i know 21 million well okay we go back to that i want to say this because um all of you know if you've listened to one podcast or you listen to 10 of them but i'm a pretty big fan of tesla and I think Elon Musk is pretty smart cat. And for the most part, I think he's very thoughtful in what he said.

However, don't ever forget when he made that comment about Bitcoin, I thought it was very odd how he got really hot and then really cold kind of quickly. Yeah, I kind of wanted to fight him over that. Yeah, I did too. But you got to remember, do you know who one of the biggest investors in Tesla is? BlackRock. and my guess is that when he made that comment and he got all giddy on Bitcoin

and that really started a take I bet you someone at Black Rock called him up and said, oh yeah, we'd really like for you to tone that down a little bit because we're not quite ready for that. I just found that very odd and Black Rock is very involved in the politics of this country

and don't take my word for it. Do your own digging out. all about what we say. Politicians are pawns. The people that run this country in the world are the richest people in the entire world. They control what the hell's going on. I mean,

I can't wait to be one of them. I'm going to tell them to all hit the road. You're fired. You've screwed it up for everyone that's been here for hundreds of years. Not just in recent memory, hundreds of thousands of years. We've been on this Fiat system

and it doesn't work. Right. Like, if you can take only one thing away from me being on here, besides like talking about Bitcoin, is the fact that our fiat system doesn't work. That's a great thing about these smart middlemen. Like they have figured out an amazing way to make themselves a lot of money

without you really noticing, which is terrible. Well, you're paying, you're paying to have that card. Yeah. But then a lot of people don't realize that the merchant is paying them. Yep. So they're paying twice. Yep.

So every transaction, everything you buy, the person that owns the data of that transaction, they're getting paid twice because they're charging the person that's sold and the person that bought. And they're getting paid both ways. So here's the scary thing with Bitcoin. Okay. And, you know, this is what happens when it's decentralized and there's no one in charge of it. Is if something fraudulent happens, like let's say.

for instance, I got into your wallet address, which, by the way, it is easier to take a chicken nugget from McDonald's and make it back to a chicken than guess or get your wallet address. That's a good analogy because it is, literally is. Like the technology will be out there at some point, but who's going to be the guy that puts his head to the grindstone and gets it done? Right. Right.

It's probably going to be someone very nefarious, but who cares? but, you know, if I take that, that's mine. There's no refunds, and that's what you get for not having, you know, someone controlling it. Yep. So. Not your keys, not your crypto. That's why it's so important to be responsible with your, your crypto. Exactly.

So, like, what I tell people is, like, yes, the Fiat system is totally screwed up. And I want to put those, those middlemen out of business. I want to make them poor as dirt like where I started. Because they serve no purpose. They serve no purpose. All they are is opportunists. They're no help.

They're opportunists. They're stealing money from people that need it. Like how great would it be if everyone could like pursue their hobbies? Like if you wanted to get a plane and learn how to fly, do you realize how much a plane is? They're expensive. They're like really expensive. But think about if, you know, if Joe Schmel that was working in a gross. grocery store could get the money to fly his plane. Probably wouldn't be that upset.

Right. His life could be me. It's just like you could get some cars. Yeah, exactly. That's your dream and everybody's got a little dream. Yeah, exactly. Bitcoin overall to me is, it might not replace the Fiat system because the people in power are always going to stay in power and they're going to fight hard to keep away. So what I tell people is like, think of Bitcoin is that that one that's going to make that hot girl do a head check. Oh, maybe I'm not the hottest girl here. That's what Bitcoin is because it takes that fiat system and it tells them, yeah, I can do it better. You want to piss me off?

You really want to see if I can take your man? Because it took me. Right. Right. Yeah. So, you know, in the grand scheme of things, like, yeah, Bitcoin's complicated. but if you kind of sit down and think about it and kind of just read about it and just, you know, be around it. And, you know, to be around it is not that hard.

Like the question I get asked all the time is like, where do I start? Okay. So what I tell people to start is like if you are living paycheck to paycheck, don't start. Don't start investing in Bitcoin. figure out your financial system like you get a budget or or find a better job or or figure out a way to make yourself more money you better have a you better have a emergency fund first they've three months four months five months this is the craziest thing to me is like so I was an eagle scout right yeah I loved boy scouts yeah it's funny because I got broccoli and talked about all that stuff and now I'm like oh yeah by the way I'm an eagle

but uh it's 2021 no one cares honestly i can't wait till they legalized but for now i'm not doing it um but you know you're sitting there and you're like okay well i got i got the money saved right because i see a lot of people my age that are like they're spending all the money that they have on stupid shit yep i'm sorry but you don't need the newest game system just wait like a year like you You see how much like an Xbox one is going for right now. They're dirt cheap. Right. Do you need it right now?

Do you need that instant gratification? Same with the iPhones and everything. Yeah. For most people, it's yes. And it's scared to me. That's the problem. It's our society. I mean, and it's, we've been,

it's, this has been going on for, for years and years, but marketing, we just talked about this yesterday because you're reading a book about, um, finding your why.

Yeah. And how marketing. working works and I mean there's people paid large sums of money for every company out there that's got something to sell to figure out how to create that desire within you that you need it now right because there's no money made in giving you to desire well I might buy that in a year or two well our whole thing we don't suffer our generation we haven't suffered enough one I totally agree with that we haven't so near enough I'm sorry but like when I when I like left the house, I went broke. Like, I, I, I didn't have any money in my account. I didn't know where I was

going to sleep. I didn't know where I was going to eat. I didn't know anything. I was like, unless you live that or have lived that, I don't think you understand like how, how fragile being financially successful is. Like, like that, you could, you could literally lose it all. Yeah, it's like raising pigs in the 90s. Right. Yeah. And then the other thing is, we are on our phones, everything that we do all the information. We're getting tons of information throwing our way and we're always our attention span so, so low. We're just scrolling, scrolling, scrolling, scrolling. If it doesn't appeal to me, scroll, I scroll past it. If I want to look something up, I can instantly look it up. And we want the same thing with success. We want the same thing with, and we're also, we want to

keep up with the times. We want to keep up with the Joneses. Everybody wants the new iPhone so they can go to school and say, I got the new iPhone. It's not just school. It's gone past that. It's everything. I want to have the newest car. Bro. I want the newest car so I can post it on my Instagram to get validation from all the people that follow me. I sold all of my cool cars, all of them. That's the only vehicle I own is that 8th gen F150. Yep.

Because it keeps me humble. Right. Because I don't need it in the grand scheme of things. It got me here and it was fun. Yep. Like it was a rough ride, but who cares? It was fun. Right.

But, you know, with this instant gratification, this is what I tell people a lot. is like okay you have your budget you got you got extra money to spend okay set an alarm on your phone it can be a week every week it could be every month it could be every hour of the day if you really want but what you're doing with that alarm is you're going to be like okay I'm going to take 20 at 930 at night on a Monday and I'm going to go to cash app finance whatever you want I'm going to buy Bitcoin. I'm just going to buy a little bit because a little bit adds up. And here's the thing. You know, if you put in $20 now and it's $100,000, man, you made a lot of money off that $20. Right. So it's it's all about like how can you, because you don't need to mine Bitcoin in the

grand scheme of things. It makes my life a lot easier because I don't care what the price is. Right. And that's you're just. And that's what I hate is like a lot of people will like, message me and be like, all a Bitcoin price is down. You must be worried. It's like, homie, I'm like almost printing one Bitcoin a day. I don't care. Right. Yep. Like, unless it went to 2000 tomorrow, which... It's something else here now. Something new. From exclusively on Paramount Plus, it's the series Stephen King calls it scary as hell. Everything here is impossible, but it's also real.

Sci-fi vision comes at the best show streaming right now. We're running out of time and we still don't know. Don't miss what the movie blog calls something you need to watch. Saving those children is how we all go home. From Binge All Episodes exclusively on Paramount Plus. Well, and that's that mentality because I'll give that, I'll take that example. Like, it's just like this mentality that we've gotten into with the financial world, the Robin Hood. Eat the rich, by the way.

Yeah. yeah but people are always they're day trading yeah we're not buying we're not buying companies we're not buying stock and companies today because we know that company has got whatever it is fill in the blank and that they are going to be worth more in the future we're not buying it because we know it's going to be worth more in the future it's oh we're going to ride the momentum we're going to buy it today we're going to sell it tomorrow we're going to make a quick buck. Or whatever it is. I'm going to buy a house. I'm going to buy a house in Coraville, Iowa, because I know I can buy it today and I can flip it in six months and I can make

this. I can go buy something and then show it off to my friends. It's so short, it's so short term. If you research and listen to people that are wealthy and you look at the wealthiest people in the world, they're long term thinking. They're long term thinking. They do not do that short flip shit. They don't, I mean, there's some people, there's some successful real estate investors that flip houses, but I guarantee they got some long-term rentals that they're throwing money into long-term investments. That short-sighted shit, you might be good at it. But so you need to invest. Bitcoin is one of these things that I truly believe today.

It's at this price, but five years, I think it's going to be here. Yeah, and it doesn't matter because I believe that eventually it is going to be. So Paul has a good point about this. he talks about it often, how everybody is very worried, or everybody puts a lot of stake in Bitcoin's worth this today.

Bro, you need to look past that. Right, because when you say that, Bitcoin is worth what? It's worth this in fiat currency. Yeah. In the future, that may not even, Bitcoin may not even be quoted

in fiat currency. It'll just be worth what it's worth because the Fiat currency may not be around. It may not be. Well, this is kind of a crazy thing to think about, but do you honestly think, like the two of you, do you honestly think that the Fiat system will ever go away? Because I don't. No, I don't either.

I think it'll always be here. Like I said, it'll be. Do you think it will go digital, though, like fully digital? Oh, bro, think how much money we would save if we would save. we weren't printing money. Right. Yeah. Think how many jobs would be lost.

And I know that's a terrible thing to say. But think how many people that we employ at Mints. Hauling. Haul and money. Like, think of all that industry that could go away. There's a lot of better things that they could do. Think about, okay, so this is a good example, because this is one that came up over El Salvador.

If you're anybody at Western Union, you should probably be looking for another job. Yeah. Because the days of people from different countries, Western Union money back to their home country, all you have to do is look at El Salvador. Use Bitcoin. It's going to be done.

That's going to be done. The crazy thing is like with the fiat system, like if I wanted to send some dude in China $4,000, it can take four days for money, money wire internationally. Bitcoin instant. Yeah. So that's where I think maybe they won't have,

we won't have the financial system. Here's why you'll have it. It's so fast. It's so fast. And I feel like our generation is so online and we're going to move around and we want to travel and we want to do all these things. And we don't want to sit at a nine to five job. More and more people are getting sick and tired of that shit.

It's a shared economy. So like that, that, that, that, third industrial revolution thing on vice, which we talked about vice. But I seriously think you should listen to it because yes, capitalism is always going to be here to stay. People are always going to want that to stay and I want it to stay. But there's going to be a shared economy eventually because, you know, everyone hoards everything for themselves. But is it really worth it? Like, is it really worth it if you keep, like, all the toys when you were a kid until the day you die? Right.

No. It's not much fun. It's not much fun. But is it fun when you give away your toy and get a new toy? Yeah. Oh, hell yeah. So eventually, everything's going to be digitized. Like, our power grids are going to be faster, which we talked about that earlier.

You know, our internet's going to be faster. Everything's going to be connected. So at that point, what, what do we? what do people need to do to make money is content creation? How can you create content to consume for the mass of everything? That's what the future is going to be. That or we all die in a hellhole fighting over old dinosaurs cramped in the ground. Yeah.

The other thing I wanted to say, I don't think we really touched on this is there don't make, there's only a certain amount of Bitcoin. Yeah. 21 million. Yeah, the inflation side of it. You can't print more Bitcoin people. That's the great thing. That's one of the best selling points on Bitcoin.

Well, and we should get into hash rate. Right, right. Because that's all tied together. That thing right there alone is something that you should really, that should sell you on Bitcoin is what the problem we have today is inflation. And the reason we have inflation is because our government continues to print shit load of money. Out of thin air.

Out of thin air. It devalues the shit out of our dollar. Think how much money that they're wasting, by the way. Right. Like Elon Musk made that comment about like, oh, we used too much power. I did my research. You want to know something funny? Our gold reserves use more power than all the Bitcoin miners in the world.

Our gold reserves. Yep. Where gold is just stored. Right. Nothing else. 21 million Bitcoin. That's it. That's the number will be and it'll always stay that way.

21? Yeah. 21 million. No, hey, I know. 21 million. Well, okay, we go back to that. I want to say this because all of you know, if you've listened to one podcast or you listen to 10 of them,

but I'm a pretty big fan of Tesla, and I think Elon Musk is a pretty smart cat. And for the most part, I think he's very thoughtful in what he said. However, don't ever forget when he made that comment about Bitcoin, I thought it was very odd how he got really hot and then really cold kind of quickly.

Yeah, I kind of wanted to fight him over that. Yeah, I did too. but you got to remember, do you know who one of the biggest investors in Tesla is? BlackRock. And my guess is that when he made that comment and he got all giddy on Bitcoin, and that really started taking, I bet you someone at BlackRock called him up and said, yeah, we'd really like for you to tone that down a little bit because we're not quite ready for that. I just found that very odd. And Black Rock is very involved. in the politics of this country and don't take my word for it.

Do your own digging. It's all about what we say. Politicians are pawns. The people that run this country in the world are the richest people in the entire world. They control what the hell's going on. I mean, I can't wait to be one of them. I'm going to tell them to all hit the road.

You're fired. You've screwed it up for everyone that's been here for hundreds of years. Not not just in recent memory, hundreds of thousands of years. been on this this fiat system and it doesn't work right like if you can take only one thing away from me being on here besides like talking about bitcoin is the fact that our fiat system doesn't work yeah like i say this over again 2,000 years ago was the first time we did a financial bailout for banks 2,000 still going and we haven't gotten any better at it at all yeah at all and you know what's

the big cause of that it's inflation so you know we're trying to get to how does bitcoin not inflate and obviously the first thing is like oh yeah well there's only 21 million that are ever going to be made right so can never inflate because they won't print more of it so here's the great thing because people are like oh well what happens when they all get mined right there you go well we're going to be sending them back and forth they're still going to be a ledger yeah i'm still going to be making money off that ledger for providing it. So, you know, a lot of people worry about that, but it's not the main issue. Because there's a few main issues with Bitcoin. And one is, you know, I can't track who spends it, which is great. The anonymity is great. But there's a lot of

nefarious things that are being done with Bitcoin to this day. And who knows what the next things going to be that people buy with Bitcoin. Like maybe there's a black market guy out there that's got a nuke and someone's going to buy it with Bitcoin, you know. But going back to the inflation, because I'm like all over the place right now, with the inflation, you know, I don't see a way that the U.S. dollar won't inflate to the point where we have to get rid of it. And that that fiat system is going to change in some way.

and I think it's going to be that digitized version that we talk about. Right. Yeah, because the thing that is, the thing that the world governments really like about digital currency is, so we just went through a period where we had stimulus, where we just poured money into, which thank you, thank you for that, because you know what I do with my stimulus check? I bought Bitcoin with it.

So, yeah, I was happy about that. but if you get to a digital, a digital dollar, digital fiat currency, as a government, you can be very smart about who you give that to and you can put stipulations upon it. Like, oh yeah, well, you don't have the, you don't have the shot. Oh, you're not going to get any stimulus. Or you are, you have an income of this. You're not going to get the stimulus. Or you live in this region.

You're not going to get this stimulus. you can really, you can really drill down as to who. That's why they like it. That's why they like it because if you get to that point and you have the data, you can be very specific about what demographic or how you want to use. You can control it. And it's all about control. And then the other side of that's what they don't like about crypto is if they don't have the control of it.

Right. So there's competing, I'm not sure how that's all going to sort out. because there's competing. The way I look at it is like if I, when I'm buying Bitcoin now and even if there is Fiat currency and it's digital, I'm going to live off of, like I'm going to live off that Fiat currency, right? Oh, yeah. And I, you know, we invest in real estate and, you know, there's assets out there.

And I'm going to hold Bitcoin as that asset because I think there's nothing. Like you can't put your Fiat currency into something. Like obviously there's real estate. that's a good asset to hold farm grounds good asset to hold after that a business that's a good asset to hold your money in because you're going to get return on it but the index s mp 500 how much of that's actually city bank you don't want to buy some city bank stocks if it's deflating and deflating and deflating and deflating there's not really a whole lot of places you can put your money at so i feel like bitcoin's a really good store of value because it's getting a good return and if i'm in the future

and I have Bitcoin and I'm wanting to go buy more farm ground. I'm not going to use my Fiat currency. I'm going to use probably some of my Bitcoin and probably sell a little bit and buy. That's how I look at it. Bitcoin is your hedge. It's my hedge. And I think it's going to get to the point where it's bringing you such a good return that you can't really put it in anything else that's going to bring such a good return.

Right. You know, think about it. Like I said that, you know, Bitcoin's a $100 bill. Both of you decided. that for yourselves on your own free will without even knowing me. Right. You know. Yeah.

It's huge. If you, and we talk about this with everything. You just do your research, man. We're just poor hog farmers from southeast Iowa. But if the knowledge, it's all out there and you can interpret it. You know, you might interpret what I read and what you read may not be this, you may not look at it the same way. But the important thing is that you read it, that you consume it.

Because if you do, it's self-responsibility. Hey, you know, if you find, if you turn the page and you say, you know what, I'm not going to take what other people tell me at face value about anything, and I'm going to do my own research, my guess is you're going to come to a good conclusion for you, whatever that decision is about whatever, whatever that is. If you spend the time to invest in yourself and invest in learning for yourself,

you're going to make the right decision, I feel like. Yeah, just don't overdo it. Yeah, well, yeah, at some point. You can go down some crazy rabbit holes and then you'll end up being in Alex Jones. You got to know the sources. Obviously, there are, you know when someone's a genuine, like us right here, we're not selling you shit. We're not selling you shit.

We're just dropping knowledge and we're transparent with you guys and you can take it at face value or you can take what we say and think it's, you know, good knowledge. And there's a lot of people out there that are genuinely good people that are giving out free information. Dad listens to Real Vision. Raul Paul is a very, very smart man. He's been on high on Bitcoin for a while and dad gets a lot of information from there. Doesn't sell dad shit. Doesn't sell anybody's shit. There's guys out there like that. Same with business, same with investing, same with crypto, everything. So dig and find your own shit. Okay. What else do you want to know? So he went kind of all, I think we did a go ahead. What do you guys think the Bitcoin price?

Because I love asking this question of people is going to to be in two years. Two years. And then a year, like this year, and then six months. Oh, it's hard. It's hard to say. I'll give you. I'll give you. Go ahead.

I think that... I'm very high on it. I'm bullish on it, but... So, you know, we've had a lot of back and forth right now. We're just coming off of, we backed off and we came up. Yeah. I think that with... With the... With where we are today, I think by the end of this year,

I think we'll be about $75,000, $80,000 is what I think. I think a year from today, I think a year from today will be over $100,000 a year from today. I don't think we'll be $200,000. When you get out there, ways there's so much. How about after Biden's terms up? What do you think?

What do you think it'll be after that? Well, I'll just say this. Okay. If they get the green new deal done, if they get the green new deal done, make print $4 trillion, I think it's going to go $250,000 or both. Well, do you realize that like that green new deal,

like with wind energy and renewable energy, like helps our industry. It does. It helps the price of Bitcoin. Yeah. Like, that's the crazy thing is like, wind power and renewable energy goes hand in hand with Bitcoin because that power is being created. It can't be stored. So who's going to use it?

Me. Kind of my problem with throwing out a number. Like, it's hard. It's so hard. But the other thing is that you're, you're still equating that back to what the dollar is. So on the one side, on the one side of that equation you have, what does somebody think Bitcoin is worth to accumulate? But then on the other side, how bad are we devaluing the dollar? So the more we devalue the dollar and the more, the more perceived value Bitcoin has, the wider that gets. So you, could it be a half a million dollar? People like, oh, it'll never, that's crazy. Well, yeah, it could be. Because if you, if, if a greater and greater percentage of people that normally are invested in currency, yeah, go, holy shit, this currency is trash and they migrate to crypto. What's going to do it? Use the gold analogy. What's going to do it is

when you go to the freaking grocery store and you buy the same shit you buy every week, and then instead of it being $150, it's fucking $250. $300 for your grocery bills. And your gas is my truck right now. It's a gas. Let's not talk about gas. I spend about $98 bucks on gas right now. And if this, you know, Green New Deal passes and inflation goes the way it's going right now,

I could be spending up to $200 bucks on gas, $150 bucks on gas. gas. And when that happens, people are going to be like, whoa, dude, what the hell do I do? And I think a lot of people are going to find this darn talk podcast and they're going to freaking watch it and learn something. Yeah. Hopefully they save the Bitcoin, spend the Ethereum though. Yes, right. I agree with you. So simply my long term bet on Bitcoin is it will be way higher. Five years from now, it's going to be worth a hell a lot more than what it is today. I don't see any case scenario long term that it is worth less than what it is today. And I also think another thing, if El Salvador is flourishing and then Nigeria adopts it and

it's flourishing and then other third world countries go, wait a minute, they're doing something pretty different and that seems to be working. And then the world bank's like, oh shit, these third world countries are about to rise up. and we can't really do shit about it. And then I think people are... And that's the other thing I forget, what I wanted to say, like a lot of people in the U.S. don't realize,

like you said, a woman in Afghanistan saw Bitcoin and she needed it. That was her way out. Yeah, that was her way out. We're flourishing right now. Most people in other countries... Are not. Are not.

And they use Bitcoin because they know it's their only way out. For us in the U.S., we're not adopting it as much because we're good. We're good right now. We do have clothes on our back. We do have a way out. we got a good job you know so there's a lot of countries that are taking it and using it to get out of their situation there is a huge difference between when you talk about adoption that example

you gave yeah that was out of necessity yeah so our as we sit here our adoption of bitcoin was opportunity like it wasn't necessity now if i'm smart i can look at it and say at some point it's going to be necessity but the reason that i got into bitcoin was was I saw an opportunity. Yeah. But if you're sitting in Nigeria, you're sitting in Afghanistan or you're sitting somewhere in Africa

and it's the difference between you being able to... Put food on the table or buy and sell goods, whatever it is, feed relatives, whatever. And necessity, the adoption rate, it's totally different. It's going to go through the roof. And that adoption rate is what causes the, you know, the Bitcoin price to go up, right?

because, you know, people ask me like, oh, you know, what really affects it? And I'm like, you and everybody else just uses it. It goes up. Yeah. It just works. Right. If you do the thing, it just works. Yeah.

Where's the, do you got any idea where the, the transaction volume is today? We were. No idea. I don't either. I need to, I should have checked pomp because pump keeps up on that. One thing I wanted to clear up is like, you. were saying we were explaining the whole blockchain so you as the miner mine the bitcoin yeah you're so explain the mining process and then how it goes on to the blockchain because i think

you covered it a little bit but i think we need to get a little bit in the mining oh okay so the asic miners right are connected to the internet everybody's basically connected to the internet all all the other minds in the world are connected to the internet they're all talking to each other right okay So, you know, we're like, okay, there's a transaction. And I'm speaking for the processor right now. The processor and the ASIC miner is like, okay, there's a, there's a transaction. I got 10 minutes to figure this out before anyone else in the world gets it. Because that's the thing.

Like people think like, oh, like everybody makes Bitcoin. And it's not the deal. Like my chances are higher because I have a shit ton of machines. Like our power bill is $3,500 a day. So, you know, so, yeah, it blows my mind every day. But to, you know, the one person that's like sneaking the minor in their workplace at Facebook, and, you know, they're not going to have that big of a return. They're not going to see 0.7.

And that's because, you know, we have a higher chance because there's more processors working because of the tarah hash, right? So that tarah hash is how we measure the processing. power of the device. So like, like I said earlier, like a terra hash is 33 cents. That 33 cents has value because of its processing power. That terra hash has 33 cents because of its processing power to be able to keep the ledger updated in working. And so, you know, that one processor gets it, gets the block solved, right? He's got the ledger.

He sends it out. Well, the next ledger is going to be needed to be done. And so it gives everybody an opportunity to be able to mine Bitcoin. I don't think Satoshi would approve of big Bitcoin mines, but, you know, someone's got to do it. It's the logical conclusion. Someone's got to do it and someone's got to make money off of it. Yeah. So pretty much these computers are just trying to solve this ledger.

And once they figure it out, they send it on the blockchain, they confirm it. Yeah. Yeah. So every, every block, one, one, what do I want to say? One minor is going to solve that block. Yeah. Not all of them. It's one.

So each one's trying to figure one. It's a race. Yeah, yeah, yeah. Because that Terra hash is like only basing its value off of it if it solves the problem. Yeah. Yeah. But, you know, your chance of it. go up. That's why it's 33 cents

is because if you have a lot of tarahash, like yeah, that 33 cents is going to add up really quick. Yeah, right, right. Because your chances are higher. Okay, well, we would be, we would be, we would be shunned if we didn't talk about

what you're actually doing, like what your guys' purpose is. Because all of these machines that you are managing, that you are taking care of, they're not all your own. No.

Am I right? No. What is your model? So what is your model? I, we should just explain to people what you're doing and kind of what your model is. Yeah. So it's JP's vision, right? I told him when I started, I'll help your dreams come true, right?

So we have a Bitcoin mine, right? We'll have, you know, so much space for our own machines. And then the rest of it, is open, right? It's open season. Yep. So, listen up. This is your opportunity.

Break the piggy bank. Yeah, break the big freaking piggy bank. You know, we'll rent that space out to you. You know, it's like, okay, well, you're not going to have the knowledge that I have to work on these machines. Right. Nor are you going to find the people to be able to work on those machines because we're having a hell of a problem right now with that.

Yeah. Right. So, you know, you'll join in. You'll come to a pool, which is essentially just like putting all that processing power together for the benefit of the people that are a part of it. So we'll bring those people in. We'll get their miners. We'll get them running. I know we guarantee like 95% uptime, which makes my life a lot harder every day, every holiday.

day you know it's it's just hard work right um so you know those guys come in they bring the money with them they own their miners they're just in our mind they're paying rent for you know the power they're paying rent for the expertise of the techs um and then they're also paying into like other funds so like we we use an escrow fund to be able to like buy uh replacement parts so like if you were a part of the, I think it's called the, well, what we use is called the MMP clients, managed mining program clients. If you were a part of the managed mining program clients, some of that money is going to go into an escrow fund.

That escrow fund buys control boards, power supplies, fans. Everything to keep, keep the system running. Keep the system running and keep the blockchain going. So how much does the person that invest, like how much a person, do they give to you guys to keep the mine running? So I don't look at those dumpers. Okay. Yeah. Right. But I would have to guess like most of the people are putting in 200k and I can see how much Bitcoin they're making. And I'm going to be honest with you. Some of these people are like getting million dollar returns in their first year and they haven't had a full year. Yeah. And it's kind of hard for me to sit there and be like,

holy crap. Right. These guys, these guys should love me. So do you think that you, they like, it's like a 10%? You guys like take 10% off. off 20? It's hard to say. I couldn't tell you. And you're you're probably adjusting that on an annual, maybe on an annual, I mean, because once you figure out what it, obviously as the farm grows, your expense of taking care of everything and as the miners age, your expense goes up. So you have to adjust whatever that is. But then, um, so as, as the coin is mined, then that coin is transferred to an exchange. Is that right? Yep. And then so if you invest, you invest X number dollars, whatever that is, which gives you this many miners, then the return on that that you make minus what your costs or fees are going to be.

That goes to an exchange. And then once it's on the exchange, it's yours to do with what you want. So if you want to Sell it Leave it And diamond hands Diamond hands I can't make my diamond Point diamond hands

Or you want to spend it You can do whatever you want with it Once it's Yeah Once it's done So like I To anybody out there

That has a lot of big money I'm going to be honest with you Paying the rent is not worth it In the grand scheme of things because now I'm the middleman for you. And that's not the goal of Bitcoin. You shouldn't have a middleman, right? The goal is that you figure out a way to build your own.

And it's hard. It's expensive. It's a lot of time. And eventually you'll be able to get that financial freedom away from that middleman. Because at the end of the day, like some days, I still feel like I'm the middleman in the fiat system. Yeah. Right. I'm the guy making money off of you.

making money. But there's a huge amount of people that they might have the means, but they definitely don't have the knowledge to make it worse. And that's, they don't have the ambition either. Yeah. And that's where we come in. Because like we also do,

you know, a program where we'll build minds for people. And that's my favorite kind of stuff. Because then I'm going to be like, oh, this is how we do it. This is how it's going to be sterile. This is how it's going to be so nice.

Yeah. You can build it the way that you would ideally like to have it. And I can't get into too much detail. Sure. Let's just say there's going to be a really, really, really big mine, and I can't wait to tell you guys to come visit it. In the state of Iowa? No.

Oh, okay. Unfortunately not. I really want it to be in the state of Iowa. Do you feel like Iowa is in a good place to do that as far as our energy cost? Yeah. Like, you know, it's a great state for it because, you know, why else would Microsoft and Facebook be here? Same reason.

Same reason. They use a lot of power. But what you don't know is that Facebook, their power is totally free and paid for by the taxpayer. Because they gave him that incentive to come. I didn't get that. Can I get that if I build a line? I know, right? Can we get that incentive?

I guess we're not big enough. That would be, that would make it very much more profitable if I could get the state of Iowa to give How much does one minor cost? Or is it very kind of? It varies with what model, right? The best one. So the best one.

So we're talking the big mama jamma, the Ferrari. The Ferrari of Bitcoin mining. I would have to say like out of the machines that we have on our site would be an S-19 Pro 110 tarahash. They're pretty good. Not going to lie. they have their problems, right? Their machines are made in China.

There's no, like, quality control at all. I've got miners that are absolute crap, and I've had to, like, fix in the barn with, you know, just a soldering gun in my knowledge. Rough estimate on your most common miner that you guys get. What's the price? I think around like 7,000. and some of them are like 10.

You know, I could sell you an S-9 like today for like 200 bucks if you want one. But, you know, it's, you're paying for the generation and more or less paying for the hash rate than the tarah hash. The newest, obviously, is the fastest. But it's not necessarily the most durable. No. And as you say, it's kind of luck of the draw. You might get one that works perfectly out of the box, or you might. get one that it's going to work into your your fund because you're going to have to try to

rework it yeah to get it run and it's terrible like I really wish that you know there'd be a company out there that would take on the task of making these uh you know more rugged uh and make my job easier because I'd love I'd love to you know put my feet uh feet up and lay down on a couch and and just watch the the bank account go up but that's that's that's That's not how it is. Yeah, let's get into that a little bit. Like, what are, what were the biggest startup problems and growing pains? And what does kind of your day look like running a Bitcoin farm?

You know, like most common things, all that stuff. Okay. So I got to start with a day before, okay, the day before I wake up. So, you know, I'll go home. I'll do my own stuff, mostly I racing. And then before I go to bed, I'll take our management app and I'll go through and I'll look at our whole site as a whole. And I'll be like, okay, well, we got 30 machines down. We need to change that tomorrow like ASAP because there's a lot of people with a lot of money that are going to be really upset if they're not running.

And I don't want to trash my name through the ground because I want to be the best guy that's ever done this. I want to be the guy that everyone goes to and is like that guy knows how to be. Bitcoin mine. Yeah. Because my boss isn't a Bitcoin miner. Right. At this point. Right.

He was. So, you know, I do my restart. I go to bed. I wake up. My alarm goes off at about 5 o'clock in the morning. I'm not very happy, but it's got to be done. You know, no one else is going to do it. So, you know, I wake up, you kind of get out of bed, motivate myself.

And the big motivation is race car, obviously. So every day I just kind of like envision When I'm driving to work What it'll feel like to like finally win a NASCAR race Or just enter one Yeah you know So I get to work I go inside

And the first thing I do is a walk through It could be negative 12 degrees out It could be 100 degrees out I got to walk all the way around the site I look at every minor 1,100 of them every day Yeah And make sure they're running

And if I see ones that aren't running And I'm like, okay, well, that's, that's the area that I looked at on Foreman the day before. And I'm like, okay, well, that's the area that we got to work on today. Why is it overheating? Because there's no, you know, dummies manual for what I do at all. Right. Like, nothing. So, you know, I'm looking at it and I'm like, okay, well, maybe it's airflow.

Maybe it's getting too hot. So, you know, I'll go through that and I'll go back to my little office. inside of our old camper that we don't make meth in. Definitely looks like we're out of breaking bat. It does. It's pretty dumb. It's cool. I love it.

Hopefully one day we'll get to renovate the inside and kind of make it really cool. Hopefully do a podcast in there. Oh, yeah. Totally. You guys can come out there and do one on site. Hell yeah. I like that. I'm down.

I'm totally down. But, you know, I go back into my office and I look at my service tickets from our customers. And the big thing that, like, I want to do is be able to be, you know, transparent as like Bitcoin is to them with what's going on. So a lot of the times I tried to make tickets before the customer does. It doesn't always work out. A lot of machines to work on, right?

Right. So, you know, I go through my Jira feed, kind of, you know, look at what everyone's got. And then another hour passes by and then all my staff comes in. I come in hours before anyone else comes in because I need to figure out what they need to do. Right. And, you know, I kind of figure out what they need to do. And then they all come in. I try to motivate them.

You know, I try to stay as positive as I can, even when the day sucks. Like, I try to make sure the guys never see me without a smile. Right. Because, you know. You're leading them. Yeah, I got to lead them. I got to lead them through the fire. And a lot of my guys, to be honest with you.

do one of my guys uh did wood veneer uh one one of the guys that i just got rid of which uh was really hard for me um you know he's he's good kid but you know god damn he's not made for it and and you know we had to get rid of him obviously but uh you know he just came fresh out of high school and in was doing it it was a bitcoin miner man uh my my network admin guy you know he he kind of he's an interesting fellow he's kind of been all around the place and worked for himself and now he works for me uh my lead uh tech for you know more circuitry uh kind of stuff uh and more in-depth minor stuff uh he was an insurance adjuster yeah so a lot of different backgrounds a lot of different backgrounds and we're all we're all we're all the popular kids we're all the

misfits bro yeah and it's great every day i get to work with like all my friends and they've all become my friends. And we just hired on one of my buddies from North Carolina. We met on eye racing. We were huge race fans. But I just hired him on. And yesterday he came to me and he's like, man, I don't, I don't know if I can do this. And this before his first day.

His first day is today and I'm not there, which is kind of funny. But we'll fix that. But he's like, I don't think I can do this. like I work on race cars. I don't work on these. And I told him, I was like, it's all logical thinking at the end of the day. If you have a brain and you can use your hands to work on something,

you can do this. And like the big thing for me now is like, how can I find more people to do what I do? How can I find more people that want to be in negative 20 degree winters, hot summers, busts in their ass, but not, ever, ever running out of work, ever.

Yep. And if they do, man, we did a good job. You did a great job. Because, like, the whole point of being an IT tech at the end of the day is to work yourself out of a job. That's the whole job. Yep. And that's what I love about it.

Yeah. Yeah. Your biggest problem is labor, you would say. Yeah. Yeah. I mean, we, we went from, like, 200 or so machines when I got there, right? And I started making, like, the TikTok. and, you know, eventually we met the squad in those guys, which awesome dudes, I love their content.

So definitely check them out. But, you know, we, we brought in all these customers off of my TikTok and off of, like, social media, right? And it started to, you know, more and more and more and more machines. And, you know, it was just me. You're a victim of your own success. Yeah, it was, it was just kind of me for a few weeks after. other guy left and I gotta tell you what it was it was so felt like being on a sinking ship bro I I lost my mind like I remember one day I got so mad I like was like punching the side of the camper

there's a huge hole in it and I'm not and I'm not gonna lie I look at that hole every day and I'm like we're never going to be like that we're gonna get the best techs we're gonna get the best stuff we're gonna give them the best equipment to work on these machines we're gonna give them everything they can to succeed. It's just if they want to be motivated. Right. And, you know, I learned a lot.

I can't say that like firing someone, you learn something, but, you know, I definitely learned that. No, you do. Man, if you're not motivated, like don't even send me a job application. Right.

Like, I want someone who wants to eat, breathe, and shit Bitcoin mining. Because if you ain't about it, you ain't about it like yeah I'm about racing but like I I didn't grow I'm not I'm not that's how you're gonna get yeah I'm not Dale Earnhardt's son right I'm not anybody's notable son I'm just a white dude from Iowa that just happens to like racing and is somewhat decent at it yeah and I mine Bitcoin right by the way I mine Bitcoin that might be the catalyst so you know over everything that I've done uh with the mine and stuff like the

One thing is like that I take away from it is if you dream hard enough and you work hard enough, it'll happen. Yeah. It's just it's just that instant gratification that we talked about earlier. It's never going to happen. Nope. And I got a brain, uh, I got ADHD. So I got a brain that's functioning in my dopamine receptors and my brain will not give me the gratification that someone without ADHD gets. It's harder for you.

It's harder for me. Yeah. And I will admit there's some days that. I'm like all over the place and I'll be like working on a machine and then I'll go run over and be replacing filters or there'll be a day that I'm like man I need like 10 sheets of insulated like foam board and I got this and this and this and then all of a sudden it's like I'm in the truck driving to Menards to go get the insulation but it almost caters to that doesn't it in the fact that there's so much going on that do you feel fulfilled now no you you're

I won't feel fulfilled until I come back here in five years with Daytona 500 trophy on this table. I am ready for that. That is the only time I will ever be fulfilled. And like if I don't, if I don't reach it okay, but like. At least I fucking tried. You know, like we're putting together a mod light. I don't know if you guys watch a lot of IMCA racing, but they kind of race all over the country. because we were looking at like a bunch of different cars that I wanted to make, right?

And I was like, well, we need something that's a good base, gives us a good, you know, beginning stuff. And it's just like the mine. Like we build out decent and it'll work. So we're looking at a car. And the mod light, you know, eventually it'll breed itself into hopefully a late model or a sprint car and we'll give Kyle Orson a run for his money. and then, you know, eventually it'll turn into an ARCA car or a truck

and we'll give someone else a run for their money. And then hopefully eventually it'll be a cup car. Okay. Okay. So where do you see this going as far as, you know, China, they tried to stand. Like, now, it depends on the day, but as of today, they're pretty like, we're done. There's a bunch of these miners. They put them out of business.

and all that mining is migrating. Is the United States the big winner in that, or is it pretty universal around the world? Everybody. Everybody. Everybody. You know, that's a lot of miners offline, and it sucks for these Chinese miners,

because I'm going to admit, like, they do just as much as work, you know, as I do, and their hands are just as dirty as mine. You know, they put in the work and they do it, and it's kind of unfortunate. that because of their government wanting control of their people and what they do, what they say, what they know, they're going to take away that financial freedom. Of course they are because they want that power. That's just part of being China. Right? America, on the other hand, I don't think that will necessarily outlaw it. But I think maybe in the future that those middlemen

and in the ponds and the big game of things are going to decide, you know what, we need to put a tax on these people. I'm going to tell you right now, I'll probably be arrested for tax evasion because I'm not paying them a goddamn dime. Yeah.

They weren't there on Christmas when I spent all day in a camper in the middle of Christmas hoping that the power would go over what the minimum peak was so that I could turn off. the site and go home and eat ham and watch the Christmas story. Right.

But where I see Bitcoin going is not necessarily replacing the fiat, right? Where I see it is that it kind of gives a whole new market to people to be able to do what they want and be free, like truly free because, you know, with a transparent. In communities across Canada, hourly Amazon employees earn an average of over $24.50 an hour. Employees also have the opportunity to grow their skills and their paycheck by enrolling in free skills training programs for in-demand fields like software development and information technology. Learn more at aboutamazon.ca. She knows. How? Did you blam? No.

The Devil Wears Prada, too. He's the movie event 20 years in the making. Honestly, can't with the secrets anymore, so I think we just should tell her. Will you two please spit it out already? This Friday, be the first to experience it only in theaters. In light of the recent scandal, I'm here to restore your credibility. Oh, because we're a team now. That's a nice story. The devil wears Prada too in Theaters Friday.

And see that's there. That's true freedom is knowing what everyone else knows. And just taking it for whatever. of this. So, I mean, I see Bitcoin in a year from now, maybe 75, maybe 100,000, right? But I see Bitcoin 10 years from now, a lot more. In 2140, I think Bitcoin's going to be about two, three million dollars of Bitcoin. Holy cow. Sorry, you might be able to get me that. 2140. 2140? Yeah. You're going to be a lot. Why, heck yes.

A few trips, a few trips to Panama. And now that Michael Jackson's gone, I bought his hiabolic. What did he sleep in that? Hybolic sleeping chamber here. Yeah, yeah. Between that, clean living, some stem cells. I think I could pull it off. You got to do that immersion, not immersion, that sensory deprivation tanks.

I did one of those, like recently. Oh, yeah, like Rogan has one. All the stress, I thought Joe Rogan was full shit. Honestly, like sitting in a bathtub with no lights. Yeah, okay. Deal it and it's insane. Oh, it's insane. It's great.

We got to get one. Yeah, we probably shit. If you guys get one, I'll be here every day. I'll be here every Wednesday for my soak. Awesome. Awesome. One thing I wanted to ask you, just, we're going to wrap it up here soon, but a buddy of mine is in crypto and we are wondering this too.

What hardware wallet do you recommend people buy if they're wanting to get keys to crypto because a lot of people don't understand they buy crypto in on an exchange on exchange they don't understand that so explain that a little bit and what do you recommend i don't recommend any of them okay i don't recommend having a physical like token i guess okay right uh what i recommend to people is figure out you know what you use the most do you use your phone do you use your pc do you use your laptop okay get a wallet on there and then make sure that you have a way of two-phase authentication to be able to get into it. Yeah.

Also, get a hard drive. Put it on there and lock it up in either security box or safe or somewhere where you know it. And make sure you have the password encrypted on there. And you can take an de-encryption tool and de-encrypt it if you ever forget. and just have that have like if you don't understand how to do that have someone explain you write it out so you know how to do it and then just do it because uh you know there's horror stories of people losing a lot of bitcoin there's a lot of bitcoin that is lost yeah and crazy i might i might have to go to the new york uh like a trash sanitary station because i i think uh one one

when lady was doing a guesstimate that there's probably 32 to 42 million dollars worth of Bitcoin in just the dump alone in New York City. Oh, wow. And hard drives or whatever you waste is there. That's insane. Yeah, don't do that. Don't do that.

So you recommend getting it off the exchange. Yeah. And putting it in those things that you said. Put it on an online wallet. An online wallet that you can get access to. Back up to a hard drive. Honestly, I really like cash app. I'm going to be honest.

I like cash app. I use cash app. I'm going to be honest with you. There's a lot of money on cash app and Bitcoin in my phone right now. And, you know, I bet the cash app guys are really excited that I just gave them a big. Well, that's what I, I mean, the majority of mine is on cash app. They make it so easy. So like what I tell people, like, along with buying Bitcoin, like, just buy it on Cash App.

Don't buy it on Robin Hood. those guys are fucking thieves and scum in the world you know especially with like the game stop stuff like i wanted to get into that eventually but yeah just another reason why you shouldn't trust the middlemen uh that control money because they'll fuck you over every time they get a chance yeah because if you want if you make money they're not making money yeah like why do you think the whole stock market was designed to be complex so normal people like you and us could not understand it yep yeah but uh you know know, I think end goal for Bitcoin is really to be a free market for everyone to be able to use. And if you want to use it, great. If you don't want to use it, great. You know, I don't judge anyone for not using Bitcoin or not wanting to invest in Bitcoin, but I strongly urge them to, even if it's like $20 that you put in and you're like, okay, well, I put my money in Bitcoin.

So you think it should be in everybody's portfolio even a little bit? Yeah, I honestly. Strongly recommend. Yeah, I strongly recommend. I honestly think they should be teaching about Bitcoin in schools. Like, in making kids question, like, why are we using this system compared to this system? Or maybe we should change it or make a hybrid of both, right? Right.

Because some of the greatest inventions in the world come from the outsiders. And, you know, asking questions, not knowing. like Satoshi is definitely an outsider and no one really knows who he is but holy shit he just like printed a document and now I'm here talking about it. Yeah it's crazy. I think a lot and last thing I wanted to throw in there do you think people like I get a question like who invented Bitcoin and can he just take it all? No. He just like take it all can you hit a button and it's gone screwed? Well obviously they haven't read what he wrote because if you read what he wrote it's yours right the only the only like gray area where I'm like kind of afraid is like I don't know

who that guy is you know I've heard theories on who the guy is I've kind of done some research into the so there's a community of people and so this is assumptions not fact but I think they're pretty accurate. So there's like a freaks groups. And those people are all about like how do we make ourselves more free? So he was a part of that movement in San Francisco because, you know, a lot of people have traced back a lot of the stuff that he's done to San Francisco. So I think, you know, he was in that movement and was like, man, fuck the U.S. dollar.

Fuck all this crap that isn't working. I'm going to make this and it caught on. Because that freak movement is really about security and freedom. Yep, yep. Which are two great things. I love security and freedom. Absolutely. But, you know, in the end, we might never know who that is.

But do we truly need to know who invented the wheel or who invented the automobile to, like, enjoy what it's given us? 100%. That's a good way to put in it. right there. That would shut up people that asked. That was good. That was really good. Well, Magnus, we really appreciate you coming on the pod, man. This was one of the best talks we've had, best guests, one of the best guests by far. Thank you. We love talking about Bitcoin. We love visiting the Bitcoin farm. And we're definitely going to try to sell some high dollar corn this year, so we can maybe get into that. Picking up cans. Picking up cans. Doing everything we can.

You guys don't have to do it. And like I said, like you can do it yourselves. Like they're all All the tools are out there on the internet to work on these machines. It's just if you want to do it. We appreciate you. Oh, yeah. Coming on the show. Hope you had a good time. I think we got a lot of value out of it.

And we'll see you guys back here next Friday. Have a good week.