THE BITCOIN MINING SHOW | EPISODE 16DAVID BRANSCUM — PART ONE

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Kind: captions
Language: en
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[music]
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Let's go. [music]
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Hey everybody, this is Future Sino. Just
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wanted to let you know this uh
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conversation I had with David Bransome
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actually became uh about a two-hour
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episode because we were having such a
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great conversation. I got chills
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thinking about it right now. Um we had
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such a great conversation. So what I did
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was I broke this up into two episodes.
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The first one you're seeing today is a
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conversation about Mr. Bransum, his
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background, his history, his life in
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Bitcoin, his passion for music and art
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and all those cool things. So, you get a
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better feel for who Mr. Bransc, David
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Branskum is. Okay, so that's part one
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and it's a really good episode in my
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opinion. We have some really candid
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conversations. Then next week on
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Thursday, we're going to release episode
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17, which is the second half of this. We
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joked around and called it the villain
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arc, but we're finally going to get into
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BIP 110. Mr. Mr. Bransk and I are going
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to talk about our thoughts, feelings,
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and facts surrounding the hard fork that
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happened with the Blake 2B chain and all
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that debacle and all that stuff. So, uh,
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it is not a chance for us to just, you
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know, crap on people. It's an honest
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conversation between two passionate
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Bitcoin miners. Uh, so I just watch this
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one, enjoy it, have fun with this
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episode, and then tune in next week for
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part two, episode 17, and you can get
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into the BIP 110 stuff. So, we really
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don't talk about it in this one, but
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that's okay because you're gonna love
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what we talk about this week. I'll see
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you guys on the stream
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>> as needed. But hey everybody, this is
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Joe aka Sino from Bitcoin Mining Show
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sponsored by Alter Technologies. Big
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thanks to Averil and Chris over there.
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They've been uh really helping me out
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with keeping this going. We are kind of
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getting toward the end of season 1 now.
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This is episode 16, so we are starting
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to wrap it up. And on that note, let me
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check this real quick because I didn't
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pull it up. What's our block height that
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we're recording at? We're recording at
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block height 965064.
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It looks like Antpool just hit that
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about a minute ago, but
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>> surprise surprise,
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>> right? [laughter] It's one always one of
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the three. I've never had it that we
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recorded. We're like, "Hey, an unknown
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just hit it at the, you know, it's
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always, you know,
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>> that would be pretty sweet." Yeah.
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>> But uh yeah, but um we have a guest
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today, guys, that I've been so happy to
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get on the show. Uh follow him on social
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media. His posts are funny, uplifting,
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honest, candid, and always on spot. So,
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uh, today we have Mr. David Bransk
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coming to us from the great Republic of
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Texas.
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>> Mr. Branscom, thank you for coming on
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the show, sir. Appreciate your time.
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>> Oh, happy to be here, man. I know I've
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been following, we've been following
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each other for a long time, right? Uh
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we've never got to hang out like long
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term in person and stuff like that, but
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been at the same events and been kind of
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in the same industry for I guess I've
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been in it five years or so. Yeah,
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>> starting to kind of run together, but um
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yeah, man. Happy to do this. It's nice
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to know I'm sweet 16 and um hope you uh
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you know continue to have many more.
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>> Yeah, thank you, man. Appreciate that.
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I'm looking forward to a season two. I'm
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gonna have to talk to the guys at Altter
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and see if they're down with that. So,
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uh we'll see how that goes. Um, but
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yeah, so for the people who may not know
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who you are or may just know you as, you
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know, a rebel in Texas. I know that's,
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you know, what you usually pop up for on
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X. If you don't mind, can you give the
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quick elevator pitch? Who's David
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Branskum, what he does, your background,
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how you got started in Bitcoin, and just
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kind of let our folks know.
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>> Sure. Yeah. So, uh, so I I didn't come
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anonymously into X, right? So, my
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handle, official handle is just David
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Branskum. Uh, been on X since about
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2012, 2013, something like that.
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uh did not ever really use it though
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until I came into the mining industry
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and I I really started it was honestly
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even I guess months into it I got pulled
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in I I I've run a bunch of companies uh
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well not a bunch right I've run like a
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couple of my own companies I've worked
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at some large scale companies I have a
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little bit of tech background I worked
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at Dell as a TSR for a while so that was
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kind of how I understood uh learned
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about uh data centers and technology and
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things like that um I lost both of my
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companies in March of 2019. Uh some
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regulatory changes. I was doing
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businessto business collections um
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mostly for nonprofits across the US and
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we were doing it well for a while and
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then there was some legal changes um for
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like collections across states and I
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wasn't a big giant company so I just
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couldn't hang and I ended up losing all
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my contracts. Um, I thought everything
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was going to be okay and I just kind of
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coasted for a while thinking I'll get a
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job when it presents itself. I was
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looking and stuff, but I couldn't get
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anything at all. And then I looked up
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and uh and I had overextended with the
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company trying to kind of push it and
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keep it going and all that kind of
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stuff.
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>> And then I had um I don't know uh
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I I just
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when I lost all that cash flow, it put
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me in a really bad spot. And instead of
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admitting what the problem was and just
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going and finding some income somewhere,
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then I ran into, you know, uh some
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financial problems, right? I woke up one
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morning, it's like I got credit card
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debt. Uh most of my savings, almost all
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of my savings is gone. I don't know what
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to do.
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>> Um I and I had interviewed for a bunch
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of companies and nobody had took me
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back. So I just uh
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>> I I was desperate. I went and got a job
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um at do Domino's Pizza delivering do
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pizza. gotta do what you got to do.
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>> I did and I was like, man, this is like
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not taking me down like three or four
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rungs, right? But then I got um
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then the pandemic hit in March of 2020
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>> and I was like I was like, "Oh man, this
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is brutal." It's like I don't know what
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it's going to do. Well, Domino's at the
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time was the only company that was
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delivering, right? Like there Uber Eats
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was still in its infancy. Uh nobody had
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delivery or to go really set up. Uh, I
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made like eight grand a month, six
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to8,000 a month for the first few months
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of the pandemic. Uh, just in tips and I
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mean it was they would let me work 12
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hours a day. It was nonstop. Uh, because
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that was all you could get, you know, if
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you and people were scared to even go to
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the grocery store for a while.
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>> Uh, as that as things settled down, it
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became much more realistic what you'd
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expect from, you know, delivering pizzas
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and stuff. But, uh, it ended up being a
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great thing for me, right? gas was cheap
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and I was raking it in. I paid off my
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debts really quick, which was nice, but
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I still was just, you know, bored. Um, I
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started learning a little bit, looking a
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little bit at uh crypto. I'd been
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working with a guy on and off. Um, and
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you know, I was mining
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uh Ethereum at home just because it was
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it was past I couldn't mine Bitcoin with
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my uh with my you know, at home with a
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GPU anymore really given the hash rate.
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So I was mining off of Dagger Hashimoto,
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but I was paying it through NiceAsh. And
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so I was immediately getting paid out in
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Bitcoin, right? So, and that was my
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first intro into mining. And I guess
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that was like maybe 2020,
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2021. And I was like, this is crazy. I'm
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spending maybe a hundred bucks in um in
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power costs a month, $80 to $100 in
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power costs a month mining this crypto.
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But when I cash it out, it's like $400
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or $500 worth of CR. Like it's paying my
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entire electric bill.
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>> Yeah. It's like, what is all this? So, I
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started looking at it. Luckily, I never
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really got far down the shitcoin rabbit
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hole.
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>> I stayed pretty true. And very quickly,
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I looked at it. I realized Bitcoin was
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kind of the only, you know, truly um
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decentralized.
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I didn't know those terms. I didn't know
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the term decentralized. I didn't know
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finite supply. I didn't know, you know,
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um
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any of that, you know, fungeability. I
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didn't understand any of that at the
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time yet. So I had um but I got lucky
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and just kind of realized I was like
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this is kind of the king and it I think
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it's it hit and that's kind of the
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direction I'm going to go. So I started
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learning a little bit about it. Then I
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realized it hit me that way back in 2014
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when I owned one of my companies we had
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free electricity. We had a dozen
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computers and this guy uh that were only
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used six to eight hours a day and this
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young guy who was working for me said
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hey we should mine Bitcoin. I'm like
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what's that? So he gives me Bitcoin, you
00:08:50.720 --> 00:08:54.150
know, 101, you know, 30, 40 minute chat,
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and my partner looks at me and goes,
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"What do you think?" I said, "What do I
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think?" I said, "That's the dumbest
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thing I've ever heard." Uh, why do I
00:09:00.720 --> 00:09:02.550
want those Chuck-e-Cheese tokens, you
00:09:02.560 --> 00:09:03.269
know?
00:09:03.279 --> 00:09:06.150
>> And so it Yeah. So it's like, did I lose
00:09:06.160 --> 00:09:07.590
my video? I apologize.
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>> It's okay. Yeah, I was going to wait
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till you're doing your thing there.
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Yeah.
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>> Yeah. No worries.
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>> Um, but that was on me. My bad. But
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like, uh, yeah, those Chuck-e-Cheese
00:09:14.640 --> 00:09:16.790
tokens are ridiculous.
00:09:16.800 --> 00:09:18.710
Uh why would I want those? Right? So now
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I'm kicking myself because I think
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Bitcoin was like 350 380 bucks at the
00:09:22.320 --> 00:09:23.269
time, right?
00:09:23.279 --> 00:09:25.350
>> Uh we could have, you know, we could
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have mined Bitcoin with 25 a block and
00:09:28.240 --> 00:09:29.350
you know, all that kind. It's just
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ridiculous. So anyway,
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>> I know that feeling.
00:09:31.760 --> 00:09:36.150
>> I know. So So we uh but anyway, um fast
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forward, I was bored with my clearly
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bored with my job. I would listen to
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like um language on you know MP3s and
00:09:46.800 --> 00:09:48.310
you know try to kind of this was kind of
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before Duolingo 2020.
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>> So I was in my car I was like listening
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to stuff trying to kind of make myself
00:09:54.240 --> 00:09:56.230
better. Um I learned a little bit of
00:09:56.240 --> 00:09:57.670
Mandarin, right? Just enough to be
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dangerous.
00:09:58.640 --> 00:10:03.350
>> Um and then I uh I was kind of staying
00:10:03.360 --> 00:10:06.150
up late um watching YouTube. I have a
00:10:06.160 --> 00:10:07.829
koi pond in the back of my yard. I'm a
00:10:07.839 --> 00:10:09.430
big fan of fish. I post a lot about the
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pond. It's like my favorite place to go
00:10:10.800 --> 00:10:13.350
in the morning, have coffee, feed the
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fish, right? They're they're like
00:10:14.560 --> 00:10:16.069
they're like living works of art.
00:10:16.079 --> 00:10:16.710
They're amazing.
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>> Totally agree.
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>> And so, and so I um I've always been a
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big fan of that of the of koiish. And so
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I was like, I need to do something. And
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I realized I had not like created
00:10:28.240 --> 00:10:30.069
anything or built anything really in the
00:10:30.079 --> 00:10:33.750
since I my son was born 12 13 years
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prior, right? Like I just didn't I
00:10:36.240 --> 00:10:39.110
didn't uh I didn't do anything. Uh he
00:10:39.120 --> 00:10:40.790
was born in ' 06. I was like, man, it's
00:10:40.800 --> 00:10:43.350
been like 15 years since I really like
00:10:43.360 --> 00:10:46.470
did a project or did anything. Um and I
00:10:46.480 --> 00:10:48.230
was on YouTube late at night watching
00:10:48.240 --> 00:10:49.750
these like raised grow beds and
00:10:49.760 --> 00:10:51.509
aquaculture and stuff. I was like,
00:10:51.519 --> 00:10:52.630
>> you know what? I don't have the money
00:10:52.640 --> 00:10:55.190
for it, but screw it. I'm going to go I
00:10:55.200 --> 00:10:57.750
just went and ordered like pumps and a
00:10:57.760 --> 00:11:00.389
pond liner and all this stuff. I bought
00:11:00.399 --> 00:11:02.710
wood. I had an idea in my head, but I
00:11:02.720 --> 00:11:04.230
was just figuring it out as I I went
00:11:04.240 --> 00:11:07.430
along. and I built and if you see any of
00:11:07.440 --> 00:11:09.509
my posts, the the raised grow bed sits
00:11:09.519 --> 00:11:11.750
in the back behind my pond. It's uh
00:11:11.760 --> 00:11:13.750
lined with wood, but then there's a a
00:11:13.760 --> 00:11:15.670
black tarp. You can tell right the liner
00:11:15.680 --> 00:11:16.550
on top.
00:11:16.560 --> 00:11:19.509
>> And I but I learned about flow rates. I
00:11:19.519 --> 00:11:22.069
learned about uh bell siphons, so a
00:11:22.079 --> 00:11:24.470
flood and drain system, vacuum, the
00:11:24.480 --> 00:11:26.790
venturi effects to airate water under
00:11:26.800 --> 00:11:27.910
pressure.
00:11:27.920 --> 00:11:30.389
>> Um you know, uh how pressure reacts when
00:11:30.399 --> 00:11:31.750
it's compressed and released through
00:11:31.760 --> 00:11:34.150
that venturi. all these really
00:11:34.160 --> 00:11:35.590
interesting things and I was just super
00:11:35.600 --> 00:11:37.990
excited about it and I should not have
00:11:38.000 --> 00:11:39.910
been have I didn't have the money to
00:11:39.920 --> 00:11:41.269
spend on that but I was like I'm still
00:11:41.279 --> 00:11:43.670
gonna do it. It's just too much fun
00:11:43.680 --> 00:11:45.190
>> and I was learning and people are like
00:11:45.200 --> 00:11:46.710
oh aquaculture you going to grow pot and
00:11:46.720 --> 00:11:48.310
I was like no I'm not you know not
00:11:48.320 --> 00:11:50.069
growing weed right I don't have a
00:11:50.079 --> 00:11:52.230
problem with it but I'm not doing it. Um
00:11:52.240 --> 00:11:53.670
I just wanted to do it to learn
00:11:53.680 --> 00:11:54.790
something and then we grew some
00:11:54.800 --> 00:11:56.310
vegetables and stuff and they were
00:11:56.320 --> 00:11:58.150
growing like gang busters. Right. Well
00:11:58.160 --> 00:11:59.670
I'm working in my garage and my neighbor
00:11:59.680 --> 00:12:01.110
across the street's like hey you've been
00:12:01.120 --> 00:12:02.470
puttering around for like two weeks.
00:12:02.480 --> 00:12:04.550
what the hell are you doing? So, he's an
00:12:04.560 --> 00:12:07.430
old Navy guy and uh I I told him, he
00:12:07.440 --> 00:12:08.470
said, "Well, show me." So, he walked
00:12:08.480 --> 00:12:09.829
around the back. I showed him. He's
00:12:09.839 --> 00:12:10.949
like, "So, you get a kid or something?"
00:12:10.959 --> 00:12:12.069
I'm like, "No, I just figured this stuff
00:12:12.079 --> 00:12:13.750
out, right? The internet's full of
00:12:13.760 --> 00:12:15.509
>> full of you calculators and all this
00:12:15.519 --> 00:12:17.110
stuff calculates the volume and flow
00:12:17.120 --> 00:12:18.550
rate and blah blah blah." He's like,
00:12:18.560 --> 00:12:19.990
"Are you an engineer engineer?" I'm
00:12:20.000 --> 00:12:21.590
like, "No, I just like figuring stuff
00:12:21.600 --> 00:12:23.990
out." Well, he at the time was the CEO
00:12:24.000 --> 00:12:27.110
for the company uh Midas, which had sold
00:12:27.120 --> 00:12:29.670
Riot their first 200 megawatts of
00:12:29.680 --> 00:12:30.629
immersion cooling.
00:12:30.639 --> 00:12:31.030
>> Okay.
00:12:31.040 --> 00:12:34.790
>> Right. And so I went to work, you know,
00:12:34.800 --> 00:12:36.389
long story short, I went to a data
00:12:36.399 --> 00:12:38.230
center show with them just to kind of
00:12:38.240 --> 00:12:39.750
see what I thought about like I footed
00:12:39.760 --> 00:12:41.030
the bill and they were impressed with
00:12:41.040 --> 00:12:42.310
that. They offered me a job doing
00:12:42.320 --> 00:12:44.230
business development. So I went and that
00:12:44.240 --> 00:12:46.949
was an intro into Bitcoin mining at an
00:12:46.959 --> 00:12:48.310
industrial scale.
00:12:48.320 --> 00:12:50.230
>> Um, and I I did the math the other day.
00:12:50.240 --> 00:12:52.629
I mean, I've worked on close to two
00:12:52.639 --> 00:12:55.430
gigawatts worth of projects. Now, a big
00:12:55.440 --> 00:12:57.509
chunk of that, the 200 megawatts, right,
00:12:57.519 --> 00:13:00.069
I was not I didn't design that. I didn't
00:13:00.079 --> 00:13:01.670
do all the deployment and stuff. I was
00:13:01.680 --> 00:13:04.389
just But that was my intro and I thought
00:13:04.399 --> 00:13:06.230
that oh well if you set up a Bitcoin
00:13:06.240 --> 00:13:08.629
mine everybody mines with 200 megawws
00:13:08.639 --> 00:13:11.269
you know and it's I I started I had no
00:13:11.279 --> 00:13:14.870
idea how crazy large that was how much
00:13:14.880 --> 00:13:17.430
energy and power that was how expensive
00:13:17.440 --> 00:13:19.430
uh what kind of an undertaking it is.
00:13:19.440 --> 00:13:22.870
Um, I got to know uh Chad kind of, you
00:13:22.880 --> 00:13:25.110
know, a little bit, Giga Chad, right?
00:13:25.120 --> 00:13:27.590
And, uh, and I know Jason a little bit
00:13:27.600 --> 00:13:30.150
from So, just getting that and and you
00:13:30.160 --> 00:13:31.430
know, Pierre Rashard when he was over
00:13:31.440 --> 00:13:33.190
there. So, it's like I I was just kind
00:13:33.200 --> 00:13:35.990
of thrown into this and thrown in with
00:13:36.000 --> 00:13:37.590
the sharks and had to swim, you know
00:13:37.600 --> 00:13:40.550
what I mean? And and uh, and I did okay,
00:13:40.560 --> 00:13:43.030
but had a falling out with them. We just
00:13:43.040 --> 00:13:45.350
parted ways. No bad blood or anything.
00:13:45.360 --> 00:13:47.350
just parted ways and and I started
00:13:47.360 --> 00:13:49.430
working on own independent projects with
00:13:49.440 --> 00:13:50.949
some people. There's a couple guys out
00:13:50.959 --> 00:13:53.110
of Miami that hired me to help him do a
00:13:53.120 --> 00:13:55.430
16 megawatt facility. It was eight air,
00:13:55.440 --> 00:13:58.470
eight uh immersion cooling. And I worked
00:13:58.480 --> 00:14:00.230
with the guy that created and uh
00:14:00.240 --> 00:14:01.670
developed that immersion to just kind of
00:14:01.680 --> 00:14:03.670
tweak it and optimize it. And I've just
00:14:03.680 --> 00:14:05.430
been having fun ever since. Man, I just
00:14:05.440 --> 00:14:07.670
like working on cool stuff with cool
00:14:07.680 --> 00:14:10.470
people. Um, but I've slowly moved up and
00:14:10.480 --> 00:14:12.870
if people ask me now what do I do? Um,
00:14:12.880 --> 00:14:14.310
the easiest way to say it is I'm really
00:14:14.320 --> 00:14:16.069
just kind of a site developer. I work on
00:14:16.079 --> 00:14:19.350
behalf of investors who want to get uh
00:14:19.360 --> 00:14:21.910
power in some way, shape or for some
00:14:21.920 --> 00:14:24.870
sort of compute. So I go find land, I go
00:14:24.880 --> 00:14:27.110
find power, you know, I help walk them
00:14:27.120 --> 00:14:29.910
through submit load studies with the uh
00:14:29.920 --> 00:14:32.629
with the uh power companies. um help
00:14:32.639 --> 00:14:35.829
them kind of n I mean it's a cluster but
00:14:35.839 --> 00:14:37.269
you know try to kind of navigate that
00:14:37.279 --> 00:14:39.910
batch zero batch one uh process that
00:14:39.920 --> 00:14:41.990
they're going through right now uh and
00:14:42.000 --> 00:14:44.470
whether it's encore or a right just I I
00:14:44.480 --> 00:14:47.189
have I have that experience um and then
00:14:47.199 --> 00:14:48.629
work with the civil engineers and things
00:14:48.639 --> 00:14:50.870
like that. So basically what we do is we
00:14:50.880 --> 00:14:53.269
try to get access to power develop these
00:14:53.279 --> 00:14:55.110
sites and then we just flip them to
00:14:55.120 --> 00:14:56.470
sometimes we already have a buyer and
00:14:56.480 --> 00:14:58.230
sometimes we put them on the market or
00:14:58.240 --> 00:15:00.150
whatever. Uh I've only done that a
00:15:00.160 --> 00:15:02.389
couple times, but so far I'm on my
00:15:02.399 --> 00:15:04.230
second project, but they're big
00:15:04.240 --> 00:15:07.030
projects. You know, there's 75, 150, 200
00:15:07.040 --> 00:15:09.750
megawatts, somewhere around there. Um
00:15:09.760 --> 00:15:11.189
but these are mostly what I've been
00:15:11.199 --> 00:15:12.949
doing now. Obviously, the buyers right
00:15:12.959 --> 00:15:14.310
now are AI
00:15:14.320 --> 00:15:16.550
>> and Bitcoin mining, in my opinion, is
00:15:16.560 --> 00:15:18.230
you know, we're a buyer of last resort,
00:15:18.240 --> 00:15:21.990
which is actually why I think Bitcoin is
00:15:22.000 --> 00:15:24.069
going to survive and why it's going to
00:15:24.079 --> 00:15:28.069
win. Um it's not because it's Bitcoin is
00:15:28.079 --> 00:15:31.750
uh we we like to call it that um the
00:15:31.760 --> 00:15:33.750
bloodless revolution, you know. I think
00:15:33.760 --> 00:15:35.509
unfortunately there will be a little bit
00:15:35.519 --> 00:15:36.710
of there will be blood.
00:15:36.720 --> 00:15:38.310
>> We're seeing now. Yeah.
00:15:38.320 --> 00:15:40.870
>> Yeah. I actually have a a shirt that uh
00:15:40.880 --> 00:15:42.470
I think Steve Barber came up with the
00:15:42.480 --> 00:15:43.829
design. It's the there will be blood
00:15:43.839 --> 00:15:45.189
shirt, but it says there will be
00:15:45.199 --> 00:15:46.550
Bitcoin, right? Okay.
00:15:46.560 --> 00:15:48.870
>> And it's and it's true because you know
00:15:48.880 --> 00:15:51.670
because we it will happen. You can't
00:15:51.680 --> 00:15:55.430
stop it. But um but it does it fairly
00:15:55.440 --> 00:15:59.110
under the radar and quietly because uh
00:15:59.120 --> 00:16:00.629
you know we're buyers of last resort.
00:16:00.639 --> 00:16:02.150
We're just like we'll just take us take
00:16:02.160 --> 00:16:03.670
take
00:16:03.680 --> 00:16:05.590
we'll we'll take what you give us. You
00:16:05.600 --> 00:16:07.030
know we don't have to stomp in there.
00:16:07.040 --> 00:16:08.949
Now there's been a couple of you know
00:16:08.959 --> 00:16:11.110
big publicly traded companies that have
00:16:11.120 --> 00:16:12.629
done it the wrong way with communities
00:16:12.639 --> 00:16:14.550
and we've kind of you know we've had to
00:16:14.560 --> 00:16:16.230
deal with that and and that sort of
00:16:16.240 --> 00:16:19.110
thing. But uh the AI data centers, you
00:16:19.120 --> 00:16:21.990
know, are really I mean they're much
00:16:22.000 --> 00:16:23.990
more massive. We're very very compact
00:16:24.000 --> 00:16:25.990
and that's going to change over time as
00:16:26.000 --> 00:16:29.749
well. But I'm just a um I'm a power
00:16:29.759 --> 00:16:31.910
maximalist, right? More energy we have
00:16:31.920 --> 00:16:34.389
the better. I love that that chart that
00:16:34.399 --> 00:16:36.069
shows, you know, the powerful countries
00:16:36.079 --> 00:16:37.990
and how much energy they have per
00:16:38.000 --> 00:16:39.749
capita, right? It's like there's never
00:16:39.759 --> 00:16:43.350
been a rich, successful, dominating
00:16:43.360 --> 00:16:45.829
country that has been cons that has
00:16:45.839 --> 00:16:47.910
consumed low amounts of energy. It just
00:16:47.920 --> 00:16:51.030
doesn't happen. Um, I came into I came
00:16:51.040 --> 00:16:54.710
into it after I left uh that immersion
00:16:54.720 --> 00:16:57.990
company listening to
00:16:58.000 --> 00:16:59.509
um and it was they'd already been out
00:16:59.519 --> 00:17:01.509
about a year or two, but um listening to
00:17:01.519 --> 00:17:03.749
the Robert Breedlove podcasts uh where
00:17:03.759 --> 00:17:06.309
he talked to Sailor and I listened to
00:17:06.319 --> 00:17:09.429
all like 40 hours of the Sailor stuff or
00:17:09.439 --> 00:17:11.829
however many it was in like like a day
00:17:11.839 --> 00:17:13.429
and a half. Like I was just I was
00:17:13.439 --> 00:17:15.029
addicted to it.
00:17:15.039 --> 00:17:17.990
>> I was I was man. And so, uh, it's funny.
00:17:18.000 --> 00:17:19.750
I'm I'm in mining and I understand
00:17:19.760 --> 00:17:23.029
energy. Um, but I don't I'm not super
00:17:23.039 --> 00:17:24.789
technical on Bitcoin. I just know how
00:17:24.799 --> 00:17:27.829
broken everything else is.
00:17:27.839 --> 00:17:30.070
>> And when you look at Bitcoin, it's
00:17:30.080 --> 00:17:32.870
honest and you know what you're getting.
00:17:32.880 --> 00:17:35.750
And, you know, whether regardless of the
00:17:35.760 --> 00:17:38.150
drama or the feelings or, you know, the
00:17:38.160 --> 00:17:40.630
the ups and downs and the volatility, it
00:17:40.640 --> 00:17:41.909
doesn't really matter. You know, if you
00:17:41.919 --> 00:17:43.750
actually look at Bitcoin, Bitcoin's not
00:17:43.760 --> 00:17:45.669
volatile. every 10 minutes we know how
00:17:45.679 --> 00:17:47.110
much is going to come out. You can I can
00:17:47.120 --> 00:17:48.789
tell you exactly how much Bitcoin will
00:17:48.799 --> 00:17:50.950
exist at any given time in the future,
00:17:50.960 --> 00:17:52.070
which is kind of crazy,
00:17:52.080 --> 00:17:52.470
>> right?
00:17:52.480 --> 00:17:54.710
>> Um and [clears throat] so once you once
00:17:54.720 --> 00:17:59.029
you tune in to the mathematics, the
00:17:59.039 --> 00:18:02.549
science, uh that sort of thing, you
00:18:02.559 --> 00:18:04.710
really realize that um Bitcoin is
00:18:04.720 --> 00:18:07.190
monetization of energy and energy is the
00:18:07.200 --> 00:18:08.630
currency of the universe. Nothing
00:18:08.640 --> 00:18:10.549
happens without it. So this is the
00:18:10.559 --> 00:18:15.110
truest form of you know uh sto truest
00:18:15.120 --> 00:18:18.230
store of value and monetization of
00:18:18.240 --> 00:18:21.350
energy produced or expended that we've
00:18:21.360 --> 00:18:23.669
ever had. Um and that doesn't change.
00:18:23.679 --> 00:18:26.150
That is a those are universal laws. And
00:18:26.160 --> 00:18:29.190
so when you know that there's this kind
00:18:29.200 --> 00:18:31.110
of just kind of peace and calm that
00:18:31.120 --> 00:18:32.870
you're like oh bare market great I just
00:18:32.880 --> 00:18:34.630
get to stack more. You know it's like
00:18:34.640 --> 00:18:36.950
bull bull market. Oh, do you want to,
00:18:36.960 --> 00:18:39.350
you know, take out a loan against your
00:18:39.360 --> 00:18:41.270
Bitcoin? Not during the barrel, you
00:18:41.280 --> 00:18:42.950
know. So, it's like you just you don't
00:18:42.960 --> 00:18:45.909
you don't buy in to all of the uh the
00:18:45.919 --> 00:18:48.070
emotionality that comes with the fiat
00:18:48.080 --> 00:18:49.750
games and things like that.
00:18:49.760 --> 00:18:52.230
>> Um and uh that's one of the hardest
00:18:52.240 --> 00:18:54.390
things, you know, people need to
00:18:54.400 --> 00:18:56.710
transition off to. But I was very lucky.
00:18:56.720 --> 00:19:00.310
I I came to that conclusion. I went all
00:19:00.320 --> 00:19:02.789
in during a bare market, right? It's
00:19:02.799 --> 00:19:04.390
like I was like, well, if this can't
00:19:04.400 --> 00:19:07.350
help us, uh, nothing can, right?
00:19:07.360 --> 00:19:09.350
>> And so, I was buying from like that, you
00:19:09.360 --> 00:19:12.390
know, in 21, I guess, 64 and then down
00:19:12.400 --> 00:19:14.470
and then up to 45 and then it slowly
00:19:14.480 --> 00:19:16.230
went all the way down to 16. I bought
00:19:16.240 --> 00:19:17.909
all the way down. Now, I wasn't buying a
00:19:17.919 --> 00:19:19.750
lot because I didn't have a lot, but I
00:19:19.760 --> 00:19:21.029
was buying 10 bucks a day.
00:19:21.039 --> 00:19:21.510
>> Yep.
00:19:21.520 --> 00:19:23.270
>> Like every like clockwork and then I
00:19:23.280 --> 00:19:24.630
would buy a little more when I could as
00:19:24.640 --> 00:19:26.470
long as our bills were paid, all that
00:19:26.480 --> 00:19:29.110
stuff. And then, you know, I went in
00:19:29.120 --> 00:19:32.230
real heavy when it hit 20, thinking,
00:19:32.240 --> 00:19:33.830
man, it can't go much lower. It's down
00:19:33.840 --> 00:19:36.549
60. I was still thinking fiat-wise,
00:19:36.559 --> 00:19:37.510
right?
00:19:37.520 --> 00:19:39.029
>> Go much lower. It's such a good buy
00:19:39.039 --> 00:19:40.150
right now.
00:19:40.160 --> 00:19:42.230
>> And I dumped I took what little left I
00:19:42.240 --> 00:19:43.750
had in retirement and put it in there.
00:19:43.760 --> 00:19:45.669
And then I cried as I watched it drop
00:19:45.679 --> 00:19:47.590
another 25%.
00:19:47.600 --> 00:19:49.350
>> And I was like I was like, I have
00:19:49.360 --> 00:19:51.990
destroyed my family. I'm like, I've and
00:19:52.000 --> 00:19:56.710
I curled up in a ball. Um, cried
00:19:56.720 --> 00:19:58.310
basically crawled into a bottle for the
00:19:58.320 --> 00:19:59.750
holidays. Made it through the holidays,
00:19:59.760 --> 00:20:01.830
but I didn't look at I didn't look at
00:20:01.840 --> 00:20:03.270
credit card accounts. I didn't look at
00:20:03.280 --> 00:20:04.310
bank statements. I didn't look at
00:20:04.320 --> 00:20:06.070
Bitcoin. I didn't look at anything for
00:20:06.080 --> 00:20:08.150
like two months. But then I woke up
00:20:08.160 --> 00:20:10.549
February and I was like, so this was
00:20:10.559 --> 00:20:12.950
October, November, December, J most of
00:20:12.960 --> 00:20:15.029
January. And then like late January,
00:20:15.039 --> 00:20:16.789
it's like, okay, my birthday's coming up
00:20:16.799 --> 00:20:19.270
February. I need to just grow up a
00:20:19.280 --> 00:20:20.710
little bit, right? So, I started looking
00:20:20.720 --> 00:20:22.470
at it again. I was like, "Oh, we're back
00:20:22.480 --> 00:20:24.630
over 20." Okay. And then it just kept
00:20:24.640 --> 00:20:26.710
going. And it's like I couldn't get
00:20:26.720 --> 00:20:28.549
Bitcoin fast enough.
00:20:28.559 --> 00:20:31.430
>> You know what I mean? And really, that's
00:20:31.440 --> 00:20:34.230
how I've been non-stop. It's like how I
00:20:34.240 --> 00:20:35.990
I don't have enough I never have enough
00:20:36.000 --> 00:20:37.029
Bitcoin.
00:20:37.039 --> 00:20:38.310
>> You know what I mean? Y
00:20:38.320 --> 00:20:40.950
>> um sometimes it's unhealthy. Like, you
00:20:40.960 --> 00:20:43.430
know, I bought the top, right? But then
00:20:43.440 --> 00:20:45.350
and so and now and then we we came down
00:20:45.360 --> 00:20:47.190
again and people are like well it's like
00:20:47.200 --> 00:20:49.190
well yeah it feels rough if you measure
00:20:49.200 --> 00:20:51.029
your life in dollar terms
00:20:51.039 --> 00:20:51.590
>> right
00:20:51.600 --> 00:20:53.510
>> your life is always difficult
00:20:53.520 --> 00:20:55.110
>> if you measure it in Bitcoin terms I'm
00:20:55.120 --> 00:20:57.350
like I'm just angry I had to spend more
00:20:57.360 --> 00:20:59.350
Bitcoin than I should have right
00:20:59.360 --> 00:21:01.669
>> right that's it so it's a it's a
00:21:01.679 --> 00:21:03.830
different way but um everyone has to go
00:21:03.840 --> 00:21:06.870
through that and learn you know how to
00:21:06.880 --> 00:21:09.350
properly manage and their own emotions
00:21:09.360 --> 00:21:11.029
and feelings and then you make better
00:21:11.039 --> 00:21:12.470
choices and Bitcoin just incentiviz
00:21:12.480 --> 00:21:13.990
advised good living all over.
00:21:14.000 --> 00:21:14.789
>> Absolutely.
00:21:14.799 --> 00:21:16.230
>> No, man. So, that's
00:21:16.240 --> 00:21:17.430
>> that's me.
00:21:17.440 --> 00:21:18.230
>> There you go.
00:21:18.240 --> 00:21:19.669
>> No, I love it. And I I like when you're
00:21:19.679 --> 00:21:21.430
talking about, you know, you energy. Uh
00:21:21.440 --> 00:21:24.070
my my introduction to real energy was as
00:21:24.080 --> 00:21:26.950
a uh a teenager going into the United
00:21:26.960 --> 00:21:29.990
States Navy on submarines. Uh yeah, fast
00:21:30.000 --> 00:21:31.669
attack submarines, nuclear submarines,
00:21:31.679 --> 00:21:33.669
Los Angeles class. The USS Portsmith was
00:21:33.679 --> 00:21:36.149
my first boat. And the first thing that
00:21:36.159 --> 00:21:37.830
>> And you were you were in a you were next
00:21:37.840 --> 00:21:40.230
to a nuclear reactor and you survived.
00:21:40.240 --> 00:21:42.149
Yeah, but you know the VA
00:21:42.159 --> 00:21:44.070
>> the VA will tell you that, you know, I'm
00:21:44.080 --> 00:21:45.750
I'm perfectly healthy when I have some
00:21:45.760 --> 00:21:47.110
things I'd like to say that they would
00:21:47.120 --> 00:21:48.070
agree with. [laughter]
00:21:48.080 --> 00:21:50.310
But here I am and I'm still happy I did
00:21:50.320 --> 00:21:52.549
it. I got to sleep next to and that's a
00:21:52.559 --> 00:21:53.750
story for another day for you and me.
00:21:53.760 --> 00:21:53.990
But
00:21:54.000 --> 00:21:55.669
>> I bet you I bet you slept really well
00:21:55.679 --> 00:21:57.190
next to next to that nice
00:21:57.200 --> 00:21:58.950
>> and warm. It was always nice and warm
00:21:58.960 --> 00:22:00.789
sleep. I'll tell you and and people will
00:22:00.799 --> 00:22:02.950
think uh submariners are lying, but as a
00:22:02.960 --> 00:22:06.789
young submariner uh in E3, I had to
00:22:06.799 --> 00:22:09.029
sleep in the torpedo room uh because
00:22:09.039 --> 00:22:10.390
there wasn't enough room. And that's
00:22:10.400 --> 00:22:12.390
normal on fast attacks. And they put
00:22:12.400 --> 00:22:14.630
these racks, these beds in the torpedo
00:22:14.640 --> 00:22:16.390
racks. They lock right in.
00:22:16.400 --> 00:22:18.070
>> Right. Not in the tube itself, but in
00:22:18.080 --> 00:22:18.390
the rack.
00:22:18.400 --> 00:22:19.750
>> No, no, yeah. Yeah. You weren't you
00:22:19.760 --> 00:22:21.110
weren't locked and bloated. Yeah.
00:22:21.120 --> 00:22:22.710
>> Right. And we were And the Portsmith was
00:22:22.720 --> 00:22:24.310
what was called a hot boat, meaning we
00:22:24.320 --> 00:22:26.630
did have a nuclear tomahawk on board.
00:22:26.640 --> 00:22:29.830
Okay. We were a hot boat. And uh I slept
00:22:29.840 --> 00:22:32.710
with my arm on a nuclear tomahawk
00:22:32.720 --> 00:22:35.270
missile for two months. So like how many
00:22:35.280 --> 00:22:36.870
people can say they've done that?
00:22:36.880 --> 00:22:37.750
>> You know what I mean? That's pretty
00:22:37.760 --> 00:22:38.149
awesome,
00:22:38.159 --> 00:22:39.590
>> right? [laughter] At the time I didn't.
00:22:39.600 --> 00:22:41.190
I was more like, man, I have to sleep in
00:22:41.200 --> 00:22:43.830
this effing dirty torpedo room and it's
00:22:43.840 --> 00:22:45.750
loud. Now I look back and I'm like, tell
00:22:45.760 --> 00:22:47.190
me, you know, you you're complaining
00:22:47.200 --> 00:22:48.630
about your non-comfortable mattress. Let
00:22:48.640 --> 00:22:49.830
me tell you about sleeping next to a
00:22:49.840 --> 00:22:51.575
nuclear missile. But anyway,
00:22:51.585 --> 00:22:53.110
[clears throat] yeah, but my was my
00:22:53.120 --> 00:22:56.070
first introduction. the true real power,
00:22:56.080 --> 00:22:59.270
electrical power, was a nuclear reactor.
00:22:59.280 --> 00:23:01.590
When I had this this guy named Tim who's
00:23:01.600 --> 00:23:03.110
one of my good friends, lives right here
00:23:03.120 --> 00:23:05.830
in Houston with me. Um, and he looked at
00:23:05.840 --> 00:23:07.350
me, one of my first boat, nuclear
00:23:07.360 --> 00:23:09.110
engineer, and he handed me a piece of
00:23:09.120 --> 00:23:10.630
paper. He said, "I am a drop of
00:23:10.640 --> 00:23:12.870
seawater, Joe. Turn me into the
00:23:12.880 --> 00:23:14.310
electrical light coming out of the
00:23:14.320 --> 00:23:16.149
light, the the light fixture in your
00:23:16.159 --> 00:23:17.909
rack." And I had to [clears throat]
00:23:17.919 --> 00:23:19.590
figure out how to turn that drop of
00:23:19.600 --> 00:23:22.710
seawater all the way through the system
00:23:22.720 --> 00:23:25.029
>> into electrical power. That was my first
00:23:25.039 --> 00:23:28.230
introduction at 19 years old to real
00:23:28.240 --> 00:23:30.149
electrical power and the strength of
00:23:30.159 --> 00:23:32.470
like nuclear power. And ever since then,
00:23:32.480 --> 00:23:34.390
just like you, I'm a power maximalist,
00:23:34.400 --> 00:23:36.230
man. Electricity, [clears throat] power,
00:23:36.240 --> 00:23:37.350
whatever it is.
00:23:37.360 --> 00:23:39.270
>> What is the best way, the cheapest way,
00:23:39.280 --> 00:23:41.190
the most efficient way we can generate
00:23:41.200 --> 00:23:42.549
power for people?
00:23:42.559 --> 00:23:44.630
>> That is that that to me is definitely
00:23:44.640 --> 00:23:46.149
thing. So that resonated with me. I'm
00:23:46.159 --> 00:23:47.669
glad you brought that up.
00:23:47.679 --> 00:23:48.549
>> So, [snorts] but yeah,
00:23:48.559 --> 00:23:50.549
>> I just slowly Yeah, I just started on
00:23:50.559 --> 00:23:52.390
that, you know, the immersion cooling.
00:23:52.400 --> 00:23:54.230
It's just one piece of the puzzle, but
00:23:54.240 --> 00:23:56.149
then I just slowly kept I went up
00:23:56.159 --> 00:23:57.909
through operations and then I tried to
00:23:57.919 --> 00:23:59.750
figure out I was like, okay, so
00:23:59.760 --> 00:24:01.510
>> I started learning about electrical
00:24:01.520 --> 00:24:03.510
distribution, you know, went through the
00:24:03.520 --> 00:24:06.149
PDUs, started understanding amperage,
00:24:06.159 --> 00:24:08.070
and then moving up into I was like, oh,
00:24:08.080 --> 00:24:09.590
that's these are big bolts. How does
00:24:09.600 --> 00:24:12.070
what's difference between 415 and 480,
00:24:12.080 --> 00:24:13.029
right? What's the difference between
00:24:13.039 --> 00:24:14.789
three threephase? what's trade
00:24:14.799 --> 00:24:16.630
difference between delta and y right
00:24:16.640 --> 00:24:18.630
like learning all this stuff and then
00:24:18.640 --> 00:24:20.470
just kept moving back and back I've done
00:24:20.480 --> 00:24:23.669
some stuff on behind the meter like
00:24:23.679 --> 00:24:25.830
power production on gas sites you know
00:24:25.840 --> 00:24:27.510
stuff like that I'm like oh well that's
00:24:27.520 --> 00:24:29.830
kind of amazing you mean you mean you
00:24:29.840 --> 00:24:31.510
can actually
00:24:31.520 --> 00:24:33.269
>> take the power it's like just out there
00:24:33.279 --> 00:24:36.390
to go get you know so
00:24:36.400 --> 00:24:38.950
>> yeah and you start to realize that it's
00:24:38.960 --> 00:24:42.310
you know there's plenty of energy in the
00:24:42.320 --> 00:24:44.789
in uh in the world in the universe
00:24:44.799 --> 00:24:47.110
really. Uh, you know, and and the only
00:24:47.120 --> 00:24:49.190
thing that makes you keeps you from
00:24:49.200 --> 00:24:52.070
having it is a gate somebody puts up to
00:24:52.080 --> 00:24:57.190
keep you out or your you know um your
00:24:57.200 --> 00:24:59.669
your I don't know what the right term
00:24:59.679 --> 00:25:01.350
is. It's not laziness, right? But you're
00:25:01.360 --> 00:25:04.310
just your lack of curiosity, your
00:25:04.320 --> 00:25:07.830
ability to Yeah. I saw a video the other
00:25:07.840 --> 00:25:09.269
day. These guys were, you know, they had
00:25:09.279 --> 00:25:10.950
this thing. It looks like a filter,
00:25:10.960 --> 00:25:13.269
right? And I'm not like an engineer. I I
00:25:13.279 --> 00:25:14.470
should go back and watch it. I
00:25:14.480 --> 00:25:15.990
bookmarked it, right? But it's like a
00:25:16.000 --> 00:25:18.149
it's just looks like a filter, but it
00:25:18.159 --> 00:25:20.470
creates, you know, certain pressure on
00:25:20.480 --> 00:25:22.950
one side and a different level of
00:25:22.960 --> 00:25:24.470
pressure on the other. And even if you
00:25:24.480 --> 00:25:26.950
hang it in the ceiling on the ceiling
00:25:26.960 --> 00:25:28.870
and with Earth's gravity, but it's
00:25:28.880 --> 00:25:30.789
hanging in air and doesn't have enough,
00:25:30.799 --> 00:25:32.470
you know, wind and stuff weighted on it,
00:25:32.480 --> 00:25:35.350
it'll naturally push itself and move,
00:25:35.360 --> 00:25:37.750
right? It's and and they're like, "Well,
00:25:37.760 --> 00:25:40.149
what we would do is take this and and it
00:25:40.159 --> 00:25:42.630
takes like 50 cents to make that little,
00:25:42.640 --> 00:25:44.710
you know, thing, right?" Well, they
00:25:44.720 --> 00:25:46.470
said, "Well, we'll take this and we're
00:25:46.480 --> 00:25:47.669
going to make like,
00:25:47.679 --> 00:25:51.510
>> you know, 10 12,000 of them and use them
00:25:51.520 --> 00:25:53.269
as kind of it'll look like a solar sail,
00:25:53.279 --> 00:25:55.029
but it doesn't require sun, right? But
00:25:55.039 --> 00:25:57.269
you just put this in space where there's
00:25:57.279 --> 00:25:59.350
no gravitational pull and no no forces
00:25:59.360 --> 00:26:01.510
acting against it. And this thing will
00:26:01.520 --> 00:26:04.549
get so fast it'll drag a space shuttle
00:26:04.559 --> 00:26:06.789
to Mars in like, you know, 30 days.
00:26:06.799 --> 00:26:08.070
>> Space sale.
00:26:08.080 --> 00:26:10.549
>> Yeah. But you're Yeah. Right. But it's
00:26:10.559 --> 00:26:12.390
energy is everywhere.
00:26:12.400 --> 00:26:13.909
>> We just haven't figured out how to
00:26:13.919 --> 00:26:16.470
properly harness it or to harness it.
00:26:16.480 --> 00:26:19.269
And so the biggest issue, especially in
00:26:19.279 --> 00:26:21.110
Texas, right, right before we got on,
00:26:21.120 --> 00:26:23.190
you're like, "Hey, storm's coming in.
00:26:23.200 --> 00:26:24.870
You know how bad the grid is down here
00:26:24.880 --> 00:26:27.190
in Houston, right? So just be careful.
00:26:27.200 --> 00:26:30.070
just in case we in case I uh you know I
00:26:30.080 --> 00:26:32.710
blip out that's why um and you know we
00:26:32.720 --> 00:26:35.350
have the same problem but everybody has
00:26:35.360 --> 00:26:37.110
the same problem because the
00:26:37.120 --> 00:26:40.149
transformers we have and the uh you know
00:26:40.159 --> 00:26:41.909
the amount of energy lost during
00:26:41.919 --> 00:26:44.549
transmission on power lines we we have a
00:26:44.559 --> 00:26:48.070
very rudimentary from a you know physics
00:26:48.080 --> 00:26:49.909
standpoint a very rudimentary and
00:26:49.919 --> 00:26:52.310
archaic way which is crazy because it's
00:26:52.320 --> 00:26:53.990
only been around a couple hundred years
00:26:54.000 --> 00:26:54.870
right
00:26:54.880 --> 00:26:57.269
>> of actually managing electrical and
00:26:57.279 --> 00:26:58.870
electricity, electrical power and
00:26:58.880 --> 00:27:03.510
electricity. And so we there's this this
00:27:03.520 --> 00:27:07.029
area of energy is just ripe, right, for
00:27:07.039 --> 00:27:09.510
uh innovation. Um and it makes me
00:27:09.520 --> 00:27:11.750
frustrated when you know the narratives
00:27:11.760 --> 00:27:14.070
and people are afraid of it or whatever.
00:27:14.080 --> 00:27:15.590
You talk about nuclear and they're like
00:27:15.600 --> 00:27:17.990
they show those plumes, you know, from
00:27:18.000 --> 00:27:19.430
the big cooling towers or whatever.
00:27:19.440 --> 00:27:20.789
They're like look at all this smoke.
00:27:20.799 --> 00:27:23.190
It's not smoke, bro. That is that is
00:27:23.200 --> 00:27:25.590
literally evaporated water and most of
00:27:25.600 --> 00:27:26.470
it
00:27:26.480 --> 00:27:29.510
>> condenses above your town and gives you
00:27:29.520 --> 00:27:31.590
fresh water, right? So it's like
00:27:31.600 --> 00:27:34.870
>> it you know it's it just there's so much
00:27:34.880 --> 00:27:36.789
>> so much is misunderstood about power and
00:27:36.799 --> 00:27:38.710
energy. Uh the whole data center thing
00:27:38.720 --> 00:27:41.909
is just ridiculous, right? Um but but
00:27:41.919 --> 00:27:43.830
it's just it's just fear and you know
00:27:43.840 --> 00:27:46.310
people think it's ugly or whatever but
00:27:46.320 --> 00:27:49.029
you know it's like Henry Ford said you
00:27:49.039 --> 00:27:50.549
know if I asked the customers what they
00:27:50.559 --> 00:27:52.710
wanted I would have made faster horses.
00:27:52.720 --> 00:27:53.029
Right.
00:27:53.039 --> 00:27:55.029
>> Right. But he but he didn't because he
00:27:55.039 --> 00:27:57.590
knew what the next innovation level was.
00:27:57.600 --> 00:28:00.870
>> Um and uh and we're we're
00:28:00.880 --> 00:28:02.389
>> I mean people have been working on
00:28:02.399 --> 00:28:03.990
incredible power and energy thing.
00:28:04.000 --> 00:28:05.750
There's lots of opportunities. there's
00:28:05.760 --> 00:28:07.909
some things that are out there if you go
00:28:07.919 --> 00:28:09.590
look that have been kind of stifled and
00:28:09.600 --> 00:28:11.110
pushed down but you could still actually
00:28:11.120 --> 00:28:12.549
do it yourself
00:28:12.559 --> 00:28:15.350
>> right so uh I just I started going down
00:28:15.360 --> 00:28:16.710
those rabbit holes and understanding
00:28:16.720 --> 00:28:20.070
it's like man uh you know the electron
00:28:20.080 --> 00:28:22.549
you know for our currently
00:28:22.559 --> 00:28:25.269
what we're doing is king um and you can
00:28:25.279 --> 00:28:27.029
literally just take minerals out of the
00:28:27.039 --> 00:28:30.230
ground and in a very clean way turn them
00:28:30.240 --> 00:28:33.190
into power anywhere on the planet and so
00:28:33.200 --> 00:28:36.230
one of my favorite sites I worked on was
00:28:36.240 --> 00:28:40.710
a um you know an off-grid site that um
00:28:40.720 --> 00:28:43.190
we took the power we took the actually
00:28:43.200 --> 00:28:46.389
had a gas well right we we controlled
00:28:46.399 --> 00:28:49.110
about 90% of the mineral rights right so
00:28:49.120 --> 00:28:51.510
we had the working and we had most of
00:28:51.520 --> 00:28:53.110
the minority really the only person had
00:28:53.120 --> 00:28:55.430
anything left was the land owner right
00:28:55.440 --> 00:28:57.510
uh the problem is normally you would
00:28:57.520 --> 00:29:00.310
monetize that gas by what the market
00:29:00.320 --> 00:29:02.549
would pay for it after taking it off the
00:29:02.559 --> 00:29:04.710
property we were just using it
00:29:04.720 --> 00:29:07.830
So in order to clean all that up and
00:29:07.840 --> 00:29:09.510
make it easy and painless, we just
00:29:09.520 --> 00:29:10.870
bought all the mineral rights so we
00:29:10.880 --> 00:29:12.070
didn't have to deal with, you know, all
00:29:12.080 --> 00:29:13.830
the other people. Well, then we bring in
00:29:13.840 --> 00:29:16.070
our own you can bring in your own power
00:29:16.080 --> 00:29:18.149
production. You can turn that gas into
00:29:18.159 --> 00:29:20.389
electricity, uh, which is, you know,
00:29:20.399 --> 00:29:23.350
what your your big reactor was doing on
00:29:23.360 --> 00:29:25.110
your sub,
00:29:25.120 --> 00:29:26.630
>> uh, powering that thing. And you had
00:29:26.640 --> 00:29:28.789
plenty of water to cool it. And when you
00:29:28.799 --> 00:29:30.310
needed warmth, you had plenty of warmth
00:29:30.320 --> 00:29:31.750
in the bottom of the ocean, which is
00:29:31.760 --> 00:29:35.430
crazy, right? Um but like you can take
00:29:35.440 --> 00:29:38.070
that that power generate that power
00:29:38.080 --> 00:29:39.909
right there and if you can compute it,
00:29:39.919 --> 00:29:43.190
you can use compute um that you know you
00:29:43.200 --> 00:29:45.830
can actually utilize
00:29:45.840 --> 00:29:48.789
you you have this great little you know
00:29:48.799 --> 00:29:52.149
microcosm of access to the entire
00:29:52.159 --> 00:29:54.870
universe but physically it's just right
00:29:54.880 --> 00:29:58.070
here right and you can't do that with a
00:29:58.080 --> 00:30:00.710
lot of kinds of technology control C
00:30:00.720 --> 00:30:02.870
controlV copy paste technology
00:30:02.880 --> 00:30:05.190
or even, you know, uh, like us sharing a
00:30:05.200 --> 00:30:06.710
video and stuff like that, right? I
00:30:06.720 --> 00:30:08.789
probably couldn't do that quite as well
00:30:08.799 --> 00:30:11.269
from there. But, you know, the Bitcoin
00:30:11.279 --> 00:30:14.470
layer requires so little data.
00:30:14.480 --> 00:30:16.710
>> Um, so the latency doesn't have to be
00:30:16.720 --> 00:30:18.549
crazy good, right? That it's very low
00:30:18.559 --> 00:30:21.430
bandwidth. I I mined a half a megawatt
00:30:21.440 --> 00:30:23.350
for a while off of like a cell phone.
00:30:23.360 --> 00:30:25.190
Yeah. Right. So, it's like it's not
00:30:25.200 --> 00:30:26.950
great, but you can do it. And then
00:30:26.960 --> 00:30:28.149
>> doable, right? It's doable.
00:30:28.159 --> 00:30:29.909
>> Yeah. It's doable. And so you can take
00:30:29.919 --> 00:30:31.830
this power that's stranded in the middle
00:30:31.840 --> 00:30:34.710
of nowhere that normally physically has
00:30:34.720 --> 00:30:36.789
to just travel miles and miles and miles
00:30:36.799 --> 00:30:38.549
and it's very expensive and costly to do
00:30:38.559 --> 00:30:41.269
and you can monetize it right there.
00:30:41.279 --> 00:30:45.510
>> You can moni
00:30:45.520 --> 00:30:48.549
scale without ever moving it.
00:30:48.559 --> 00:30:51.750
That's that is a that that is what makes
00:30:51.760 --> 00:30:55.510
Bitcoin that in my opinion is the real
00:30:55.520 --> 00:30:57.190
application of Bitcoin is being able to
00:30:57.200 --> 00:31:00.789
say my power and my energy right I can
00:31:00.799 --> 00:31:03.830
take it to the world uh without having
00:31:03.840 --> 00:31:06.070
to transfer it anywhere right you know
00:31:06.080 --> 00:31:07.830
and it's like and I don't and when I say
00:31:07.840 --> 00:31:09.669
don't have to transfer it anywhere you
00:31:09.679 --> 00:31:12.070
know I don't even have to have like a
00:31:12.080 --> 00:31:13.990
wallet or have access to my Bitcoin I
00:31:14.000 --> 00:31:15.430
just have to have an address
00:31:15.440 --> 00:31:17.909
>> I and I don't even have to technically
00:31:17.919 --> 00:31:20.470
make that address
00:31:20.480 --> 00:31:22.789
uh like on a computer or anything like
00:31:22.799 --> 00:31:23.990
that, right? If you know how to do the
00:31:24.000 --> 00:31:26.549
math, that is that is amazing.
00:31:26.559 --> 00:31:27.430
>> Yeah.
00:31:27.440 --> 00:31:29.510
>> Uh it's unlike anything we've ever had
00:31:29.520 --> 00:31:33.029
before. And so you work on behalf of the
00:31:33.039 --> 00:31:34.470
mathematics and the science of the
00:31:34.480 --> 00:31:37.029
universe and that in that connection to
00:31:37.039 --> 00:31:39.430
energy, it's just it's a it's a gift,
00:31:39.440 --> 00:31:41.029
man. It's not a gift.
00:31:41.039 --> 00:31:43.750
>> It's not Some people are like, well, you
00:31:43.760 --> 00:31:47.269
know, that one of my greatest
00:31:47.279 --> 00:31:48.470
One of my favorite things to discuss
00:31:48.480 --> 00:31:50.070
with people is to ask them, do you feel
00:31:50.080 --> 00:31:52.070
like it's a discovery or an innovation,
00:31:52.080 --> 00:31:53.590
you know, because I think it lends
00:31:53.600 --> 00:31:55.029
itself to both. It's just so
00:31:55.039 --> 00:31:56.310
interesting.
00:31:56.320 --> 00:31:57.990
>> Absolutely. Totally agree with you. And
00:31:58.000 --> 00:32:00.070
there's there's so much about it. We
00:32:00.080 --> 00:32:02.950
could go on for days about that. Just
00:32:02.960 --> 00:32:06.230
the the simplicity yet the complexity of
00:32:06.240 --> 00:32:08.310
it at the same time
00:32:08.320 --> 00:32:10.549
>> and how amazing that is. And you could
00:32:10.559 --> 00:32:11.990
do so much with it. Like you said, you
00:32:12.000 --> 00:32:14.789
could take this this stranded energy
00:32:14.799 --> 00:32:17.750
that I mean for decades, longer than
00:32:17.760 --> 00:32:19.269
that, for a century, people have looked
00:32:19.279 --> 00:32:20.710
at it like, "Ah, just burn it off. We'll
00:32:20.720 --> 00:32:22.470
put a pipe up there. We'll light it up.
00:32:22.480 --> 00:32:24.389
We'll just let it burn off. Nobody's
00:32:24.399 --> 00:32:25.909
going to use that. There's no use for
00:32:25.919 --> 00:32:28.789
it." And now we're turning it into um
00:32:28.799 --> 00:32:31.190
you know, there's this power in Texas
00:32:31.200 --> 00:32:33.430
or, you know, in the Peran Basin is now
00:32:33.440 --> 00:32:35.269
creating things in other countries for
00:32:35.279 --> 00:32:35.669
them.
00:32:35.679 --> 00:32:38.789
>> Yeah. Yeah. Even look at like uh Bhutan,
00:32:38.799 --> 00:32:42.230
right? like they they had so much um you
00:32:42.240 --> 00:32:44.789
know potential hydroelect electric power
00:32:44.799 --> 00:32:45.750
available
00:32:45.760 --> 00:32:47.669
>> but they had nowhere to sell it to
00:32:47.679 --> 00:32:48.549
>> right
00:32:48.559 --> 00:32:51.909
>> and that country is stacking Bitcoin
00:32:51.919 --> 00:32:53.669
they've been mining Bitcoin for like the
00:32:53.679 --> 00:32:56.789
last five six years um they've got huge
00:32:56.799 --> 00:32:59.110
amounts of farms up there and they're
00:32:59.120 --> 00:33:01.350
like oh this has worked out very well
00:33:01.360 --> 00:33:04.070
right it's a tiny little c country and
00:33:04.080 --> 00:33:07.190
so for the first time you have this with
00:33:07.200 --> 00:33:10.230
this ability
00:33:10.240 --> 00:33:12.549
It's revolutionary from a geopolitical
00:33:12.559 --> 00:33:14.710
standpoint because it allows these
00:33:14.720 --> 00:33:16.549
countries that truly have the resources
00:33:16.559 --> 00:33:18.710
to monetize them without all of the fiat
00:33:18.720 --> 00:33:20.070
gains, right? Without all the
00:33:20.080 --> 00:33:22.149
requirements, without the oppression,
00:33:22.159 --> 00:33:25.110
without the IMF, all of that BS, right?
00:33:25.120 --> 00:33:27.430
>> And Bhutan's a perfect example that El
00:33:27.440 --> 00:33:30.870
Salvador is too. Uh but you know,
00:33:30.880 --> 00:33:33.990
Bouetle's he's his his his
00:33:34.000 --> 00:33:37.110
uh accolades are so much more than just
00:33:37.120 --> 00:33:39.110
you know Bitcoin, right? I think that
00:33:39.120 --> 00:33:41.350
will pay out well for them too. But just
00:33:41.360 --> 00:33:44.870
from a you know um good versus evil
00:33:44.880 --> 00:33:46.470
standpoint, he's done an incredible job
00:33:46.480 --> 00:33:49.110
in addition to that, right? But like uh
00:33:49.120 --> 00:33:51.509
but you just once you start to study it,
00:33:51.519 --> 00:33:52.870
you realize these countries are just
00:33:52.880 --> 00:33:55.509
they've been so beaten down and they'll
00:33:55.519 --> 00:33:57.909
never it's the fiat hamster wheel. same
00:33:57.919 --> 00:33:59.909
thing we're on when we, you know, are
00:33:59.919 --> 00:34:01.669
working a job for a paycheck and we try
00:34:01.679 --> 00:34:03.350
to save and, you know, every year it's
00:34:03.360 --> 00:34:04.630
worth less and less and less.
00:34:04.640 --> 00:34:05.509
>> Y
00:34:05.519 --> 00:34:11.109
>> um it's just uh that will change the geo
00:34:11.119 --> 00:34:13.270
geopolitics and that's why, you know,
00:34:13.280 --> 00:34:15.030
like I said, there will be a little
00:34:15.040 --> 00:34:16.550
blood, but it's not going to be because
00:34:16.560 --> 00:34:18.710
of Bitcoin. Bitcoin just is the
00:34:18.720 --> 00:34:20.470
catalyst. You know what I mean?
00:34:20.480 --> 00:34:22.470
>> Yeah. And and again, it's such a
00:34:22.480 --> 00:34:23.669
beautiful thing. Bhutan is a great
00:34:23.679 --> 00:34:24.790
example. I'm glad you brought that up
00:34:24.800 --> 00:34:25.909
because they're like you said they're
00:34:25.919 --> 00:34:27.669
taking this power that they had nowhere
00:34:27.679 --> 00:34:29.750
to store it. They then Bitcoin gave them
00:34:29.760 --> 00:34:32.629
a way to store this power and now they
00:34:32.639 --> 00:34:34.149
can use it and that's great. That's good
00:34:34.159 --> 00:34:35.510
for all the people in their country.
00:34:35.520 --> 00:34:36.790
It's good for the whole world
00:34:36.800 --> 00:34:38.310
>> because it shows that it can be done
00:34:38.320 --> 00:34:39.829
like you said without the and I'm not
00:34:39.839 --> 00:34:42.389
trying to sound like like a crazy
00:34:42.399 --> 00:34:43.909
liberal or anything like that, but like
00:34:43.919 --> 00:34:45.909
it does it without the colonialism. It
00:34:45.919 --> 00:34:47.270
does it without Yeah. that does it
00:34:47.280 --> 00:34:48.869
without all the invasiveness that comes
00:34:48.879 --> 00:34:51.030
into these these cultures and starts,
00:34:51.040 --> 00:34:52.869
you know, setting up all this
00:34:52.879 --> 00:34:54.869
infrastructure that they they really
00:34:54.879 --> 00:34:56.950
didn't want in the first place.
00:34:56.960 --> 00:34:59.349
>> It's uh it's the same story, right? Like
00:34:59.359 --> 00:35:01.270
the IMF or whoever else some other
00:35:01.280 --> 00:35:03.349
country comes in, they say they're going
00:35:03.359 --> 00:35:04.790
to help them. They give them a bunch of
00:35:04.800 --> 00:35:06.470
stuff, don't teach them how to use it,
00:35:06.480 --> 00:35:07.190
>> right?
00:35:07.200 --> 00:35:09.829
>> Uh take all of the valuable resources
00:35:09.839 --> 00:35:11.750
away. I mean, we just did it in
00:35:11.760 --> 00:35:12.550
Venezuela.
00:35:12.560 --> 00:35:12.870
>> Yep.
00:35:12.880 --> 00:35:15.190
>> Right. The US just did it in Venezuela.
00:35:15.200 --> 00:35:17.750
It's not um and and it we did it under
00:35:17.760 --> 00:35:20.550
the guise of you know emancipating but I
00:35:20.560 --> 00:35:22.310
mean really we just you know they'll
00:35:22.320 --> 00:35:23.670
eventually be a part of the they're
00:35:23.680 --> 00:35:25.349
they're a part of the US at this point
00:35:25.359 --> 00:35:26.390
right
00:35:26.400 --> 00:35:28.069
>> um they're not an official prominads but
00:35:28.079 --> 00:35:29.349
they're a part of the US same way Puerto
00:35:29.359 --> 00:35:32.069
Rico is and stuff so it's like which is
00:35:32.079 --> 00:35:33.670
you know fine as long as you're doing
00:35:33.680 --> 00:35:36.230
the right thing but we all know that you
00:35:36.240 --> 00:35:38.150
know eventually all of these empires
00:35:38.160 --> 00:35:40.069
there's a tipping point and they stop
00:35:40.079 --> 00:35:41.670
doing the right thing and it's not even
00:35:41.680 --> 00:35:43.990
necessarily a grand scheme or one
00:35:44.000 --> 00:35:45.190
person's you
00:35:45.200 --> 00:35:47.829
you know, um, in their basement, you
00:35:47.839 --> 00:35:49.270
know, trying to figure out how to take
00:35:49.280 --> 00:35:50.790
>> twisting the mustache, right?
00:35:50.800 --> 00:35:51.990
>> Yeah. They're not they're, you know,
00:35:52.000 --> 00:35:55.190
it's not it's just it's the nature of,
00:35:55.200 --> 00:35:57.270
uh, it's the nature of entropy, right?
00:35:57.280 --> 00:35:59.670
It's the nature of how how things
00:35:59.680 --> 00:36:01.990
naturally just drift into into chaos,
00:36:02.000 --> 00:36:04.069
right? That's what's so interesting
00:36:04.079 --> 00:36:06.230
about Bitcoin, too, is it it, you know,
00:36:06.240 --> 00:36:08.870
it takes that in that that chaos and
00:36:08.880 --> 00:36:11.190
puts it in an orderly fashion
00:36:11.200 --> 00:36:13.910
>> u using the rules of the universe. It's
00:36:13.920 --> 00:36:16.150
it's u I I really feel like there's
00:36:16.160 --> 00:36:19.430
almost like a like a it's a it's a God
00:36:19.440 --> 00:36:21.109
connection, right? Like I'm a Christian.
00:36:21.119 --> 00:36:23.430
I believe that, you know, God created us
00:36:23.440 --> 00:36:26.069
and I believe that math and science were
00:36:26.079 --> 00:36:28.550
kind of the uh that's the that's the
00:36:28.560 --> 00:36:31.270
programming language, right? And so when
00:36:31.280 --> 00:36:33.190
you're using something like Bitcoin as
00:36:33.200 --> 00:36:36.790
sound money or you're uh opting in to
00:36:36.800 --> 00:36:38.790
only recognize things as they really
00:36:38.800 --> 00:36:40.550
are, you know, truthfully, you're not
00:36:40.560 --> 00:36:42.470
lying to yourself or believing the lies
00:36:42.480 --> 00:36:44.390
of others, right? Then you're in tune
00:36:44.400 --> 00:36:48.069
with the universe. Um, and uh, it would
00:36:48.079 --> 00:36:49.829
make sense that, you know, Bitcoin
00:36:49.839 --> 00:36:51.510
mining would be proof of work because if
00:36:51.520 --> 00:36:52.950
energy is the currency of the universe
00:36:52.960 --> 00:36:54.950
and math and science are the pro and
00:36:54.960 --> 00:36:57.109
physics are the programming, well then,
00:36:57.119 --> 00:36:58.550
you know, this is the closest thing
00:36:58.560 --> 00:37:01.270
we've got to to understanding, you know,
00:37:01.280 --> 00:37:04.069
the universe, quantum physics, quantum
00:37:04.079 --> 00:37:05.349
mechanics, all of that kind of stuff,
00:37:05.359 --> 00:37:07.510
right? Something either is or it isn't.
00:37:07.520 --> 00:37:10.470
and um and you you realize that, you
00:37:10.480 --> 00:37:13.190
know, when you're a part of it, you can
00:37:13.200 --> 00:37:15.990
be in and of yourself, but still, you
00:37:16.000 --> 00:37:18.710
know, a part of the the whole at the
00:37:18.720 --> 00:37:21.990
same time. It's a it's it's a really
00:37:22.000 --> 00:37:24.390
it's a really kind of uh enlightening
00:37:24.400 --> 00:37:26.230
kind of position, right? But we're
00:37:26.240 --> 00:37:28.390
seeing I what's cool is Bitcoin might be
00:37:28.400 --> 00:37:30.710
the technological catalyst that helps
00:37:30.720 --> 00:37:33.349
these other countries realize that,
00:37:33.359 --> 00:37:35.109
right? and be and when you're dealing
00:37:35.119 --> 00:37:36.470
with honest weights and measures and
00:37:36.480 --> 00:37:39.349
honest money like that, the incentive to
00:37:39.359 --> 00:37:42.710
not go to war, right? But to actually
00:37:42.720 --> 00:37:46.230
work out uh some sort of diplomacy in a
00:37:46.240 --> 00:37:48.710
way that is beneficial
00:37:48.720 --> 00:37:51.670
>> uh for for both of us. But then when you
00:37:51.680 --> 00:37:54.069
when someone does cross a line, right,
00:37:54.079 --> 00:37:56.230
it also helps you say, "Oh, draw that
00:37:56.240 --> 00:37:57.670
border and say, "No, no, no, you can't
00:37:57.680 --> 00:37:58.950
cross that line." Right?
00:37:58.960 --> 00:38:02.550
>> It's valuable enough for me to push back
00:38:02.560 --> 00:38:04.950
because that is where the line ends. If
00:38:04.960 --> 00:38:07.589
you lie to me and you want to say, you
00:38:07.599 --> 00:38:09.829
know, this is true when it's not, that's
00:38:09.839 --> 00:38:12.550
where so so Bitcoin gives people an
00:38:12.560 --> 00:38:15.270
incentive for that to to honor that that
00:38:15.280 --> 00:38:17.750
border and that truth and understand
00:38:17.760 --> 00:38:19.750
that, you know, that's what's really
00:38:19.760 --> 00:38:21.910
important. It's it's going to be it's
00:38:21.920 --> 00:38:24.630
going to be crazy to watch. I did read
00:38:24.640 --> 00:38:29.349
um Jason Lowry's sophomore. Um I'm I did
00:38:29.359 --> 00:38:31.109
not comprehend all of it. I had to look
00:38:31.119 --> 00:38:31.910
up a lot
00:38:31.920 --> 00:38:33.750
>> I had to look up a lot of terms and
00:38:33.760 --> 00:38:36.710
stuff. But but I do I do understand from
00:38:36.720 --> 00:38:39.670
a uh you know honest weights and
00:38:39.680 --> 00:38:41.270
measures
00:38:41.280 --> 00:38:43.510
>> and verifiable
00:38:43.520 --> 00:38:46.630
truth you know that's not open for
00:38:46.640 --> 00:38:50.870
definition or argument. uh right is is a
00:38:50.880 --> 00:38:53.829
is a weapon politically which is is
00:38:53.839 --> 00:38:55.430
crazy to think you know it just lets you
00:38:55.440 --> 00:38:58.069
know how you know corrupt and dangerous
00:38:58.079 --> 00:38:59.589
you know governments can be and the
00:38:59.599 --> 00:39:01.829
wrong kind of group think can be
00:39:01.839 --> 00:39:05.030
>> uh so so it'll be I mean people are like
00:39:05.040 --> 00:39:07.349
oh cool I can send money you know across
00:39:07.359 --> 00:39:09.270
these rails that's great I can do P2P I
00:39:09.280 --> 00:39:10.630
can be my own bank okay all that's
00:39:10.640 --> 00:39:13.270
really cool but when that takes a hold
00:39:13.280 --> 00:39:16.710
of whole governments and they completely
00:39:16.720 --> 00:39:18.630
change like kind of what you know you're
00:39:18.640 --> 00:39:22.870
seeing in El Salvador and um you're
00:39:22.880 --> 00:39:25.990
eventually it's like safety says right
00:39:26.000 --> 00:39:30.710
you you can eventually you you have to
00:39:30.720 --> 00:39:33.349
use gunpowder right someone uses
00:39:33.359 --> 00:39:35.750
gunpowder against you can choose to not
00:39:35.760 --> 00:39:37.349
use gunpowder but you'll get decimated
00:39:37.359 --> 00:39:38.950
right so you either choose you either
00:39:38.960 --> 00:39:40.950
forced to use it same way with Bitcoin
00:39:40.960 --> 00:39:43.430
you're either forced to use it later
00:39:43.440 --> 00:39:45.349
>> or you use it now and figure it out on
00:39:45.359 --> 00:39:48.870
your own terms and just I don't know it
00:39:48.880 --> 00:39:51.430
feels like every day, you know, that
00:39:51.440 --> 00:39:52.732
tipping point is just right there.
00:39:52.742 --> 00:39:52.790
[laughter]
00:39:52.800 --> 00:39:55.430
>> Yep. Little more and a little more.
00:39:55.440 --> 00:39:56.710
>> All right, guys. Quick shout out to the
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sponsor of today's episode, Altter Tech.
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the sovereign way. Little more and a
00:40:47.760 --> 00:40:49.510
little more. I love it. Y and I I can't
00:40:49.520 --> 00:40:51.270
wait. One of my favorite and and I'm
00:40:51.280 --> 00:40:52.710
going to totally butcher the actual
00:40:52.720 --> 00:40:54.390
quote, but one of my favorite sayings
00:40:54.400 --> 00:40:56.309
from the founding fathers from Jefferson
00:40:56.319 --> 00:40:57.270
is uh
00:40:57.280 --> 00:41:00.309
>> uh you know, mutual uh beneficial trade
00:41:00.319 --> 00:41:02.309
uh agreements with all nations. Uh
00:41:02.319 --> 00:41:03.510
encumbering [clears throat] uh
00:41:03.520 --> 00:41:05.829
encumbering treaties with none. Okay?
00:41:05.839 --> 00:41:07.030
You know, kind of doing the whole thing.
00:41:07.040 --> 00:41:08.710
He was going back and forth with John
00:41:08.720 --> 00:41:10.550
Adams at the time about, you know, do we
00:41:10.560 --> 00:41:12.150
ally with France? Do we ally with
00:41:12.160 --> 00:41:13.829
England who we just broke away from? and
00:41:13.839 --> 00:41:15.270
he was kind of like, why can't we just
00:41:15.280 --> 00:41:17.270
have trade with everyone? Everyone deals
00:41:17.280 --> 00:41:19.670
with everyone on a fair scale and then
00:41:19.680 --> 00:41:21.030
we don't have to worry about any of that
00:41:21.040 --> 00:41:23.190
BS. And of course, we know that did not
00:41:23.200 --> 00:41:25.190
happen, but it's it's a lovely ideal,
00:41:25.200 --> 00:41:25.910
but
00:41:25.920 --> 00:41:27.349
>> it can happen with Bitcoin
00:41:27.359 --> 00:41:29.030
>> until Bitcoin. I mean, honestly, you
00:41:29.040 --> 00:41:30.550
could argue it it it couldn't have
00:41:30.560 --> 00:41:31.030
happened,
00:41:31.040 --> 00:41:31.589
>> right?
00:41:31.599 --> 00:41:32.710
>> You know what I mean?
00:41:32.720 --> 00:41:35.270
>> You you couldn't you don't have um you
00:41:35.280 --> 00:41:36.870
know, final settlement,
00:41:36.880 --> 00:41:38.790
>> right? um with most of what we've had
00:41:38.800 --> 00:41:40.710
digitally. You go further back than
00:41:40.720 --> 00:41:42.550
that, you know, it's like, okay, gold is
00:41:42.560 --> 00:41:44.790
considered good, but you know,
00:41:44.800 --> 00:41:46.390
ultimately we we don't know how much
00:41:46.400 --> 00:41:49.270
gold there is, right? Um I do know that,
00:41:49.280 --> 00:41:51.589
you know, there's a handful of gold
00:41:51.599 --> 00:41:54.710
producers and gold miners that, you
00:41:54.720 --> 00:41:55.829
know, they're like, "Hey, the price of
00:41:55.839 --> 00:41:58.710
gold is down. Oh, oh, sorry. Uh our
00:41:58.720 --> 00:42:00.069
production is low. I don't know what
00:42:00.079 --> 00:42:01.270
happens." And then when there's record
00:42:01.280 --> 00:42:02.550
prices of gold, they're like, "Hey, we
00:42:02.560 --> 00:42:03.910
just found a new vein." right?
00:42:03.920 --> 00:42:05.430
>> You know, so it's like
00:42:05.440 --> 00:42:08.470
>> Yeah. So it's it's all manipulable and
00:42:08.480 --> 00:42:11.430
um and then you have, you know, the the
00:42:11.440 --> 00:42:14.230
executive order 6102, right, that we had
00:42:14.240 --> 00:42:15.670
here in the US and then you have Nixon
00:42:15.680 --> 00:42:17.589
in 70713
00:42:17.599 --> 00:42:18.630
>> about that. [laughter]
00:42:18.640 --> 00:42:22.069
>> Yeah. Right. Right. Yeah. So it's like
00:42:22.079 --> 00:42:24.790
where so it it doesn't as long as
00:42:24.800 --> 00:42:27.910
there's you know you can manipulate the
00:42:27.920 --> 00:42:31.990
form of payment or the rails or you know
00:42:32.000 --> 00:42:34.069
the settlement or whatever you could
00:42:34.079 --> 00:42:35.910
argue you know up to this point we we
00:42:35.920 --> 00:42:37.589
just we didn't have that. Right.
00:42:37.599 --> 00:42:42.710
>> Right. Um so this is a
00:42:42.720 --> 00:42:45.829
>> I mean you know
00:42:45.839 --> 00:42:48.150
>> Bitcoin David the saying
00:42:48.160 --> 00:42:50.230
>> do what? Bitcoin fixes this. I mean, we
00:42:50.240 --> 00:42:51.109
hear
00:42:51.119 --> 00:42:53.589
>> I hate it's such a it's such a trope,
00:42:53.599 --> 00:42:55.910
right, that we say too much sometimes,
00:42:55.920 --> 00:42:57.910
but it it does. It was really
00:42:57.920 --> 00:43:01.990
interesting when they said uh um Iran
00:43:02.000 --> 00:43:03.030
said, you know, if you want to pass
00:43:03.040 --> 00:43:04.390
through the straight of Hormuz, we're
00:43:04.400 --> 00:43:06.550
we're taking everybody quoted it as
00:43:06.560 --> 00:43:08.550
crypto, but really the answer was
00:43:08.560 --> 00:43:11.589
Bitcoin because they wanted finality.
00:43:11.599 --> 00:43:12.390
They wanted to know that
00:43:12.400 --> 00:43:13.910
>> they didn't ask for Ethereum,
00:43:13.920 --> 00:43:14.470
>> right?
00:43:14.480 --> 00:43:16.230
>> Yeah. They didn't I they didn't ask for
00:43:16.240 --> 00:43:18.390
Ethereum, right? because you you don't
00:43:18.400 --> 00:43:19.990
know what the I mean it's the same as
00:43:20.000 --> 00:43:21.109
asking for dollars,
00:43:21.119 --> 00:43:21.670
>> right?
00:43:21.680 --> 00:43:24.630
>> Right. And and there's no clawback.
00:43:24.640 --> 00:43:26.150
There's no you know it's like everything
00:43:26.160 --> 00:43:28.230
else there's a clawback or whatever. And
00:43:28.240 --> 00:43:30.550
it's not like Bitcoin is 100%,
00:43:30.560 --> 00:43:33.750
>> you know, um it's not private, right?
00:43:33.760 --> 00:43:35.270
You can you still have to be held
00:43:35.280 --> 00:43:36.950
accountable for it. And if people want
00:43:36.960 --> 00:43:38.230
to track you down because you did
00:43:38.240 --> 00:43:39.910
terrible things, okay, or whatever, but
00:43:39.920 --> 00:43:40.790
like
00:43:40.800 --> 00:43:43.589
>> it can still be done. But man, it's just
00:43:43.599 --> 00:43:45.750
such a more transparent and honest and
00:43:45.760 --> 00:43:48.150
trustless system, right? Like kind of
00:43:48.160 --> 00:43:50.710
what you were saying a second ago is it
00:43:50.720 --> 00:43:53.829
just requires so much trust. You don't
00:43:53.839 --> 00:43:55.430
you don't have to have it
00:43:55.440 --> 00:43:55.829
>> right
00:43:55.839 --> 00:43:58.230
>> here with Bitcoin. So, we can just
00:43:58.240 --> 00:44:00.230
transact with anybody and everybody,
00:44:00.240 --> 00:44:02.870
right? Then it's on me. If I, you know,
00:44:02.880 --> 00:44:05.829
send, you know, some Bitcoin to an
00:44:05.839 --> 00:44:07.430
address that's a scammer, well, that's
00:44:07.440 --> 00:44:09.670
on me. You know, it's like it's ultimate
00:44:09.680 --> 00:44:11.670
accountability, which is also, you know,
00:44:11.680 --> 00:44:13.589
what really scares people, too.
00:44:13.599 --> 00:44:14.950
>> Absolutely. I mean, and that that
00:44:14.960 --> 00:44:16.630
crosses all aspects of our lives. And I
00:44:16.640 --> 00:44:17.750
think that's something that people get
00:44:17.760 --> 00:44:19.270
worried about, too, right? The fact that
00:44:19.280 --> 00:44:20.390
sometimes we're going to be held
00:44:20.400 --> 00:44:22.710
accountable for things that that does,
00:44:22.720 --> 00:44:24.630
you know, that that scratches at people
00:44:24.640 --> 00:44:26.950
as humans, right? That we want we want
00:44:26.960 --> 00:44:29.030
to know that if something happens, we
00:44:29.040 --> 00:44:30.950
can mitigate the insurance of life.
00:44:30.960 --> 00:44:33.270
Whereas with Bitcoin, it's it is what it
00:44:33.280 --> 00:44:34.950
is, right? So if you're doing something
00:44:34.960 --> 00:44:36.870
shady, somebody can look at it and know
00:44:36.880 --> 00:44:38.230
you're doing something shady. So the
00:44:38.240 --> 00:44:39.990
incentive with Bitcoin is don't do
00:44:40.000 --> 00:44:41.510
something shady.
00:44:41.520 --> 00:44:43.670
>> Yeah. And and and that and that idea
00:44:43.680 --> 00:44:45.430
that, you know, there's any security,
00:44:45.440 --> 00:44:47.109
that there's any kind of insurance or
00:44:47.119 --> 00:44:49.349
whatever, ultimately it's a it's a lie,
00:44:49.359 --> 00:44:49.750
>> right?
00:44:49.760 --> 00:44:53.190
>> It's just uh it's a lie to make us to to
00:44:53.200 --> 00:44:55.190
lull us into this sense of, you know,
00:44:55.200 --> 00:44:56.150
comfort.
00:44:56.160 --> 00:44:59.109
>> Um you saw what happened with, you know,
00:44:59.119 --> 00:45:02.309
the fires and farmers insurance and, you
00:45:02.319 --> 00:45:03.670
know, all that stuff. you saw what
00:45:03.680 --> 00:45:06.390
happened with uh you know the hurricane.
00:45:06.400 --> 00:45:08.630
It's like we pump all this money for
00:45:08.640 --> 00:45:11.510
through um the government into FEMA and
00:45:11.520 --> 00:45:14.390
then you know when Americans in Carolina
00:45:14.400 --> 00:45:16.390
and Tennessee need it you know they it
00:45:16.400 --> 00:45:18.390
doesn't show up right so it's like there
00:45:18.400 --> 00:45:21.750
is no there's it there really isn't
00:45:21.760 --> 00:45:24.950
ultimately you are 100% accountable for
00:45:24.960 --> 00:45:26.790
you know the things around you the
00:45:26.800 --> 00:45:29.349
things you do right the things you do
00:45:29.359 --> 00:45:31.990
and so you do your best but ultimately
00:45:32.000 --> 00:45:33.829
you know the bad things can happen
00:45:33.839 --> 00:45:37.109
regardless right so But but being a
00:45:37.119 --> 00:45:39.109
Bitcoiner, it's like you also realize
00:45:39.119 --> 00:45:41.430
there's a certain amount of freedom in
00:45:41.440 --> 00:45:44.150
that accountability that allows you to
00:45:44.160 --> 00:45:46.390
pick and choose who you do and don't
00:45:46.400 --> 00:45:47.910
spend your time with, who you do and
00:45:47.920 --> 00:45:51.510
don't associate with. Um I mean, I was
00:45:51.520 --> 00:45:54.390
probably worth the least amount of, you
00:45:54.400 --> 00:46:00.870
know, uh US dollars in 20 uh 212 that
00:46:00.880 --> 00:46:03.910
I've ever been. But I was debtree. I had
00:46:03.920 --> 00:46:05.990
a little bit of Bitcoin and I knew what
00:46:06.000 --> 00:46:08.309
I had and I remember moving everything I
00:46:08.319 --> 00:46:12.870
had onto um you know cold storage onto a
00:46:12.880 --> 00:46:14.150
wallet
00:46:14.160 --> 00:46:17.030
>> and sweating for a second right you know
00:46:17.040 --> 00:46:18.710
as I watched that I was like oh I didn't
00:46:18.720 --> 00:46:22.150
do a test transition oh you know uh it's
00:46:22.160 --> 00:46:23.829
like I did I did I feel I felt like I
00:46:23.839 --> 00:46:25.990
was doing everything wrong but I wasn't
00:46:26.000 --> 00:46:28.550
because I was taking responsibility
00:46:28.560 --> 00:46:30.309
>> and I thought to myself okay well if
00:46:30.319 --> 00:46:35.030
this goes if I lose that I okay I lose
00:46:35.040 --> 00:46:35.990
it but that's on me
00:46:36.000 --> 00:46:36.710
>> that's on me right
00:46:36.720 --> 00:46:38.710
>> right and I and I and I got it I got it
00:46:38.720 --> 00:46:40.470
once I can go back and get I can go get
00:46:40.480 --> 00:46:42.630
it again and you know whatever and it's
00:46:42.640 --> 00:46:44.230
like and then it and then the
00:46:44.240 --> 00:46:46.470
transaction goes through you see final
00:46:46.480 --> 00:46:49.910
settlement you feel secure and knowing
00:46:49.920 --> 00:46:52.470
that you know no matter like no one can
00:46:52.480 --> 00:46:54.309
freeze that account it's not like my
00:46:54.319 --> 00:46:55.589
bank account where they can go in and
00:46:55.599 --> 00:46:58.069
freeze it you know whatever I was like I
00:46:58.079 --> 00:47:00.309
slept like a baby that night right so
00:47:00.319 --> 00:47:02.630
taking accountability
00:47:02.640 --> 00:47:04.710
uh and understanding
00:47:04.720 --> 00:47:06.630
what reality is and the truth and being
00:47:06.640 --> 00:47:09.190
in tune to that, it just puts you on a
00:47:09.200 --> 00:47:11.109
whole other level and then you you get a
00:47:11.119 --> 00:47:12.630
taste of it and you don't want to go go
00:47:12.640 --> 00:47:15.349
back even though it makes you look crazy
00:47:15.359 --> 00:47:16.550
to all your normie friends,
00:47:16.560 --> 00:47:18.150
>> right? Yeah. So, [laughter]
00:47:18.160 --> 00:47:19.430
>> David, we're getting it right now. My
00:47:19.440 --> 00:47:21.829
wife and I, we've been um people on the
00:47:21.839 --> 00:47:23.510
show have heard me talk about this. My
00:47:23.520 --> 00:47:25.670
wife and I uh were laid off recently
00:47:25.680 --> 00:47:27.510
from the insurance the large insurance
00:47:27.520 --> 00:47:29.910
company we worked for. We were both um
00:47:29.920 --> 00:47:32.230
we researched contracts and policies. We
00:47:32.240 --> 00:47:34.069
we did in policy interpretations for
00:47:34.079 --> 00:47:36.069
complex stuff. They got rid of our whole
00:47:36.079 --> 00:47:37.430
department because they wanted to pay
00:47:37.440 --> 00:47:39.510
less. So what they did was they told the
00:47:39.520 --> 00:47:41.430
people under us, the tier under us,
00:47:41.440 --> 00:47:43.349
you're going to do Sinko's job, you're
00:47:43.359 --> 00:47:44.710
going to do Joe's job
00:47:44.720 --> 00:47:46.150
>> for your pay, we're not going to pay you
00:47:46.160 --> 00:47:47.349
more and we're just going to get rid of
00:47:47.359 --> 00:47:47.990
him.
00:47:48.000 --> 00:47:50.150
>> And that's what they did. So yeah, it's
00:47:50.160 --> 00:47:52.230
weird because had this happened 10 years
00:47:52.240 --> 00:47:54.390
ago, I probably would have been in heart
00:47:54.400 --> 00:47:56.230
attack mode because I'd be like, where's
00:47:56.240 --> 00:47:58.150
my money going to come from?
00:47:58.160 --> 00:48:00.230
David, I've got miners going right now.
00:48:00.240 --> 00:48:02.230
I've got different gigs that I do,
00:48:02.240 --> 00:48:04.230
little side gigs that convert to Bitcoin
00:48:04.240 --> 00:48:06.950
for me. And even my wife, my wife, who
00:48:06.960 --> 00:48:08.390
again, I love her to death. She doesn't
00:48:08.400 --> 00:48:10.150
understand Bitcoin as much as some of us
00:48:10.160 --> 00:48:12.150
do, but she gets it at the level that
00:48:12.160 --> 00:48:13.910
she says, "We're going to be okay." We
00:48:13.920 --> 00:48:15.190
wouldn't have been able to do that 10
00:48:15.200 --> 00:48:16.550
years ago. We wouldn't have been able to
00:48:16.560 --> 00:48:17.589
be to say,
00:48:17.599 --> 00:48:20.470
>> "It's going to be okay. We can do this
00:48:20.480 --> 00:48:22.390
>> now. We can, right?" That peace of mind.
00:48:22.400 --> 00:48:23.750
And I hate using that term because it's
00:48:23.760 --> 00:48:26.069
overused, but we do have that like,
00:48:26.079 --> 00:48:27.670
okay, we're we're going to be all right.
00:48:27.680 --> 00:48:29.190
We're going to make this work.
00:48:29.200 --> 00:48:30.549
>> And without Bitcoin, I wouldn't have
00:48:30.559 --> 00:48:32.309
been able to do that.
00:48:32.319 --> 00:48:35.750
>> I I I've had um now don't get me wrong,
00:48:35.760 --> 00:48:38.390
I've, you know, made more than my fair
00:48:38.400 --> 00:48:40.390
share of, you know, mistakes and bad
00:48:40.400 --> 00:48:43.670
decisions, right? Um in my life, but I
00:48:43.680 --> 00:48:47.589
throughout my life, you know, I've had,
00:48:47.599 --> 00:48:48.950
you know, being a Christian and having
00:48:48.960 --> 00:48:50.390
that kind of level of faith and
00:48:50.400 --> 00:48:53.190
understanding. And I like uh the Paul
00:48:53.200 --> 00:48:55.349
Mitchell guy, Jean Paul Deoria, right?
00:48:55.359 --> 00:48:57.109
Like he's he's a he's a really
00:48:57.119 --> 00:49:00.390
interesting guy. Um he I don't know if
00:49:00.400 --> 00:49:02.150
he's the first one to say it, but you
00:49:02.160 --> 00:49:04.870
know, I heard him say, you know, in the
00:49:04.880 --> 00:49:06.790
end it's all okay. So if it's not okay,
00:49:06.800 --> 00:49:08.390
it's not the end. You know what I mean?
00:49:08.400 --> 00:49:08.950
>> Yeah.
00:49:08.960 --> 00:49:11.589
>> And and he said or whatever.
00:49:11.599 --> 00:49:13.750
>> And I I've I guess I've just always kind
00:49:13.760 --> 00:49:15.589
of felt that way. It's like I you know,
00:49:15.599 --> 00:49:18.390
I know Jesus has got me and I know kind
00:49:18.400 --> 00:49:21.430
of where I'm going to end up. So knowing
00:49:21.440 --> 00:49:23.270
that it gives you the freedom to just
00:49:23.280 --> 00:49:26.309
kind of be who you're supposed to be.
00:49:26.319 --> 00:49:29.990
>> Um, and what I like about Bitcoin is it
00:49:30.000 --> 00:49:32.790
it is becoming a catalyst now for people
00:49:32.800 --> 00:49:35.589
to really
00:49:35.599 --> 00:49:38.390
once their their eyes are open to the
00:49:38.400 --> 00:49:40.150
truth, right? Something either is or it
00:49:40.160 --> 00:49:43.349
isn't. They it's it's really fun from a
00:49:43.359 --> 00:49:45.750
cultural perspective to see them all
00:49:45.760 --> 00:49:47.589
transition
00:49:47.599 --> 00:49:51.270
um in that that idea into the other
00:49:51.280 --> 00:49:53.430
aspects of their lives which is what I
00:49:53.440 --> 00:49:55.109
feel is such a weird spiritual
00:49:55.119 --> 00:49:58.150
connection with Bitcoin because you know
00:49:58.160 --> 00:50:00.630
why I feel like it's tied to the very
00:50:00.640 --> 00:50:02.870
fabric of the universe right it's like
00:50:02.880 --> 00:50:05.030
it's like if I have a Bitcoin that's
00:50:05.040 --> 00:50:08.790
like my little frozen you know amount of
00:50:08.800 --> 00:50:10.790
energy and time that exists in the
00:50:10.800 --> 00:50:11.670
universe
00:50:11.680 --> 00:50:15.190
And it's mine, right? I I I and I have
00:50:15.200 --> 00:50:17.990
to freely hand it over. No one can take
00:50:18.000 --> 00:50:20.150
it. I have to freely hand it over,
00:50:20.160 --> 00:50:21.750
broadcast it on the network and tell
00:50:21.760 --> 00:50:25.829
everybody, "Hey everybody, I am I am
00:50:25.839 --> 00:50:29.270
giving this power and energy and time to
00:50:29.280 --> 00:50:31.910
someone else because I what they're
00:50:31.920 --> 00:50:34.630
giving me in return I feel is worth my
00:50:34.640 --> 00:50:38.309
time and and effort, right?" and and
00:50:38.319 --> 00:50:41.670
that um so you know growing up be having
00:50:41.680 --> 00:50:43.430
that attitude it's like people would say
00:50:43.440 --> 00:50:44.630
people would say man I just don't
00:50:44.640 --> 00:50:46.069
understand how you're so calm you don't
00:50:46.079 --> 00:50:50.230
freak out you know or whatever um and so
00:50:50.240 --> 00:50:53.589
once I but you know when I found Bitcoin
00:50:53.599 --> 00:50:57.589
it kind of reminded me of that 16 years
00:50:57.599 --> 00:50:59.910
later I used to feel that way but then
00:50:59.920 --> 00:51:02.470
you know you have kids or life or job
00:51:02.480 --> 00:51:04.630
and responsibility and it you know life
00:51:04.640 --> 00:51:06.230
wears on you and you start to believe
00:51:06.240 --> 00:51:10.230
the lies and stuff. Um, and it's like to
00:51:10.240 --> 00:51:13.030
give you kind of an example, uh, I I've
00:51:13.040 --> 00:51:15.030
done this. I'll I'll I'll do some
00:51:15.040 --> 00:51:16.390
speaking engagements from time to time.
00:51:16.400 --> 00:51:18.870
I'll go speak to like, uh, I'll be at,
00:51:18.880 --> 00:51:22.309
uh, UTA, UT Arlington in a few weeks.
00:51:22.319 --> 00:51:23.829
They have a couple of Bitcoin classes,
00:51:23.839 --> 00:51:25.109
which are cool, right? So, it's like,
00:51:25.119 --> 00:51:26.630
and I've gotten to know the professor
00:51:26.640 --> 00:51:28.230
there, Professor Buckle,
00:51:28.240 --> 00:51:30.950
>> and um, we uh, so he has me up about
00:51:30.960 --> 00:51:32.630
once a semester to come talk, right? One
00:51:32.640 --> 00:51:34.390
of my favorite things to do is like I'll
00:51:34.400 --> 00:51:35.750
start talking about economics and
00:51:35.760 --> 00:51:37.349
they'll start, you know, asking
00:51:37.359 --> 00:51:38.790
questions. I'll say, "Hey, just quick
00:51:38.800 --> 00:51:41.589
question. Raise your hand if you've ever
00:51:41.599 --> 00:51:43.270
gone, you know, two weeks without a job
00:51:43.280 --> 00:51:44.950
or without income, right?" And it's like
00:51:44.960 --> 00:51:46.230
every almost everybody's done
00:51:46.240 --> 00:51:48.309
transitioning from one job to another,
00:51:48.319 --> 00:51:49.589
right? It's like, "Okay, how about 30
00:51:49.599 --> 00:51:52.309
days? How about six months? How about a
00:51:52.319 --> 00:51:52.710
year?"
00:51:52.720 --> 00:51:53.109
>> Yeah.
00:51:53.119 --> 00:51:55.910
>> Right. And then and probably one of the
00:51:55.920 --> 00:51:59.270
greatest lessons I've learned is uh you
00:51:59.280 --> 00:52:01.270
know doing this uh being in this
00:52:01.280 --> 00:52:05.109
industry and working is like I twice
00:52:05.119 --> 00:52:06.630
I've only been in five years and twice
00:52:06.640 --> 00:52:08.309
I've gone at least nine 10 months
00:52:08.319 --> 00:52:09.990
without any income
00:52:10.000 --> 00:52:11.910
>> without any active income maybe a little
00:52:11.920 --> 00:52:13.589
bit of passive and when I say a little
00:52:13.599 --> 00:52:14.790
not enough to cover bills
00:52:14.800 --> 00:52:15.430
>> right
00:52:15.440 --> 00:52:18.470
>> but it's like but you start saving
00:52:18.480 --> 00:52:21.109
uh in Bitcoin in a way in something that
00:52:21.119 --> 00:52:23.910
putting your value and your time and
00:52:23.920 --> 00:52:25.349
your effort and your energy into
00:52:25.359 --> 00:52:26.870
something that can't be debased by
00:52:26.880 --> 00:52:27.750
another person,
00:52:27.760 --> 00:52:28.870
>> right?
00:52:28.880 --> 00:52:32.390
>> Even over from bare market to be like I,
00:52:32.400 --> 00:52:35.270
you know, my son got uh well, both my
00:52:35.280 --> 00:52:36.790
boys actually ended up getting braces,
00:52:36.800 --> 00:52:38.390
but my younger one when I took him in to
00:52:38.400 --> 00:52:40.069
get braces,
00:52:40.079 --> 00:52:41.670
uh he's like, "Oh, Dad, I'm so sorry." I
00:52:41.680 --> 00:52:42.870
was like, "What?" He goes, "This is
00:52:42.880 --> 00:52:45.589
expensive. It's like $10,000." And I
00:52:45.599 --> 00:52:47.109
said, "Well, buddy, it's really only
00:52:47.119 --> 00:52:49.510
about 1,600 bucks." And he's like, "What
00:52:49.520 --> 00:52:50.710
are you talking about, Dad?" I said,
00:52:50.720 --> 00:52:54.069
"Well, I bought six at least $1,600
00:52:54.079 --> 00:52:57.349
worth of Bitcoin when Bitcoin was around
00:52:57.359 --> 00:53:00.069
uh you know, 16,000. I bought $1,000
00:53:00.079 --> 00:53:02.630
worth at least." And and now Bitcoin's
00:53:02.640 --> 00:53:04.390
at the time it was like at 100,000,
00:53:04.400 --> 00:53:07.109
right? So, it's like, "Right." So, it's
00:53:07.119 --> 00:53:09.670
like it cost me 1,600 bucks, right? And
00:53:09.680 --> 00:53:11.750
then I was looking at and I said
00:53:11.760 --> 00:53:13.349
something was like, "Oh, someone said,
00:53:13.359 --> 00:53:14.470
"Oh, I can't believe you're still in
00:53:14.480 --> 00:53:17.349
Bitcoin. It's down 50%." I said, "Not
00:53:17.359 --> 00:53:18.470
from when I got in."
00:53:18.480 --> 00:53:20.549
>> Yeah. you know, I was like, it's
00:53:20.559 --> 00:53:24.150
actually pretty much even with the
00:53:24.160 --> 00:53:27.510
all-time high or the high in 2021 or
00:53:27.520 --> 00:53:30.790
whatever 20 20 whatever that time was.
00:53:30.800 --> 00:53:33.670
Uh I said it's about the same. I said,
00:53:33.680 --> 00:53:36.230
and actually, you know, it's still up
00:53:36.240 --> 00:53:38.630
like 5x from, you know, the last bare
00:53:38.640 --> 00:53:40.710
mark. So, I'm like, it's just it's this
00:53:40.720 --> 00:53:43.670
idea. You just you don't worry about the
00:53:43.680 --> 00:53:46.390
volatility, right? No one my the number
00:53:46.400 --> 00:53:47.990
of Bitcoin I had stayed the same,
00:53:48.000 --> 00:53:50.390
>> right? And and once you know what you
00:53:50.400 --> 00:53:54.630
have um you know and you understand it,
00:53:54.640 --> 00:53:57.430
it's just all all that all that worry
00:53:57.440 --> 00:54:00.790
just kind of goes away. And you also
00:54:00.800 --> 00:54:02.549
realize too, it's like
00:54:02.559 --> 00:54:05.670
>> you only ultimately you
00:54:05.680 --> 00:54:09.510
>> you only get real benefit from the stuff
00:54:09.520 --> 00:54:12.630
you put in, right? Well, when you're
00:54:12.640 --> 00:54:15.990
mining or you're doing this podcast or,
00:54:16.000 --> 00:54:17.510
you know, uh or you've got, you know,
00:54:17.520 --> 00:54:18.870
some other side gig or whatever, what
00:54:18.880 --> 00:54:21.109
whatever you're doing, right? When you
00:54:21.119 --> 00:54:23.829
control that, even when you have bad
00:54:23.839 --> 00:54:25.750
days, you're like, "Well, yeah, but this
00:54:25.760 --> 00:54:27.750
bad day is still way better than some of
00:54:27.760 --> 00:54:29.910
the good days I had, you know, at a job
00:54:29.920 --> 00:54:31.349
where, you know, working for the
00:54:31.359 --> 00:54:33.190
insurance company where it's like, oh, I
00:54:33.200 --> 00:54:34.870
did I got this accolade. I did this job,
00:54:34.880 --> 00:54:36.390
but it didn't actually make me any more
00:54:36.400 --> 00:54:37.670
money. I didn't get a promotion. I
00:54:37.680 --> 00:54:38.950
didn't get any, you know, from it or
00:54:38.960 --> 00:54:40.630
whatever. They just bought me pizza for
00:54:40.640 --> 00:54:41.349
the afternoon,
00:54:41.359 --> 00:54:43.030
>> right? [laughter]
00:54:43.040 --> 00:54:44.470
>> You're like, I can buy my own damn
00:54:44.480 --> 00:54:46.069
pizza. Thank you very much.
00:54:46.079 --> 00:54:47.670
>> They can't fire me.
00:54:47.680 --> 00:54:48.309
>> Yeah, exactly.
00:54:48.319 --> 00:54:49.829
>> Bad day at work. So,
00:54:49.839 --> 00:54:53.190
>> it can't it can't. But also, and again,
00:54:53.200 --> 00:54:54.870
there's that that freedom, right? You're
00:54:54.880 --> 00:54:58.470
taking control of your day. And I found
00:54:58.480 --> 00:55:00.069
out that, you know, when I have like a
00:55:00.079 --> 00:55:01.750
nineto-five, if I'm working for a
00:55:01.760 --> 00:55:03.510
company, and I did it for a long time
00:55:03.520 --> 00:55:04.630
because I thought that was the only
00:55:04.640 --> 00:55:07.750
option, right? I'm miserable. Oh yes,
00:55:07.760 --> 00:55:10.549
>> I am miserable. I'm miserable.
00:55:10.559 --> 00:55:14.549
>> And and uh you just I I fought it for a
00:55:14.559 --> 00:55:16.069
long time. And at first you're grateful.
00:55:16.079 --> 00:55:17.589
It's like, oh, a paycheck. Okay, good.
00:55:17.599 --> 00:55:19.589
You know, whatever. And and it's
00:55:19.599 --> 00:55:21.589
sometimes it's simpler. It's a lot
00:55:21.599 --> 00:55:23.510
simpler because a lot of times it's just
00:55:23.520 --> 00:55:25.670
go clock in, clock out, clock in, clock
00:55:25.680 --> 00:55:29.430
out, you know, and and it's like, well,
00:55:29.440 --> 00:55:32.309
but that only clocking in and clocking
00:55:32.319 --> 00:55:34.230
out only makes a person work just hard
00:55:34.240 --> 00:55:36.230
enough to not get fired
00:55:36.240 --> 00:55:38.390
>> when your butt is on the line. You have
00:55:38.400 --> 00:55:41.990
nowhere else to turn, right? You will
00:55:42.000 --> 00:55:44.150
put a 100% of your effort and you will
00:55:44.160 --> 00:55:45.829
find things in yourself you didn't even
00:55:45.839 --> 00:55:47.030
know existed,
00:55:47.040 --> 00:55:48.470
>> right?
00:55:48.480 --> 00:55:51.670
Bitcoin has is the catalyst that gives a
00:55:51.680 --> 00:55:53.270
lot of people the courage to take that
00:55:53.280 --> 00:55:55.990
step in other things in their life in
00:55:56.000 --> 00:55:59.349
you know religion in um personal
00:55:59.359 --> 00:56:02.309
relationships in health. It's like all
00:56:02.319 --> 00:56:04.150
of these things and it's been really
00:56:04.160 --> 00:56:07.829
fun. It's kind of like a awakening a
00:56:07.839 --> 00:56:10.789
reawakening for society and Bitcoin is
00:56:10.799 --> 00:56:12.710
is the kind of the financial side of
00:56:12.720 --> 00:56:13.430
that which is cool.
00:56:13.440 --> 00:56:15.910
>> I agree man. You know July 17th I refer
00:56:15.920 --> 00:56:18.150
to it as my day of jubilee. It was my my
00:56:18.160 --> 00:56:19.750
emancipation day. Nice. That's a good
00:56:19.760 --> 00:56:20.069
one.
00:56:20.079 --> 00:56:22.069
>> Yeah. Um that's because that was my last
00:56:22.079 --> 00:56:24.950
day at my former my my fiat job. And I
00:56:24.960 --> 00:56:26.950
knew going into it, it was very scary.
00:56:26.960 --> 00:56:29.510
Everyone who's lost a job or you know
00:56:29.520 --> 00:56:31.030
had you know whatever you know how scary
00:56:31.040 --> 00:56:32.630
that is because we're programmed from
00:56:32.640 --> 00:56:33.670
being young,
00:56:33.680 --> 00:56:35.270
>> you got to have a job, right? You gota
00:56:35.280 --> 00:56:36.950
you got to have that job. You got to be
00:56:36.960 --> 00:56:38.390
productive all week long.
00:56:38.400 --> 00:56:40.390
>> Well, what is productive, right? And
00:56:40.400 --> 00:56:41.990
that's kind of my whole mindset now.
00:56:42.000 --> 00:56:44.069
It's it's September 1st. My whole
00:56:44.079 --> 00:56:45.349
mindset has changed. I actually said to
00:56:45.359 --> 00:56:46.789
my wife yesterday, David, I was telling
00:56:46.799 --> 00:56:48.470
Kylie, I said, you know, I got a little
00:56:48.480 --> 00:56:50.069
teareyed, too. I got a little emotional
00:56:50.079 --> 00:56:51.750
about it, a little little got to hand my
00:56:51.760 --> 00:56:53.030
man card with that. But I looked at her
00:56:53.040 --> 00:56:55.270
and I said, you know, I said,
00:56:55.280 --> 00:56:57.990
>> we punched the clock every day. We lived
00:56:58.000 --> 00:57:00.069
that time period of, you know, that 8 to
00:57:00.079 --> 00:57:02.150
5 every day and then we got off of work
00:57:02.160 --> 00:57:05.030
and we watched TV or whatever and we I
00:57:05.040 --> 00:57:06.549
read my book and then the next day we
00:57:06.559 --> 00:57:07.829
did it all over again and we lived for
00:57:07.839 --> 00:57:11.270
the weekends. this past all of August, I
00:57:11.280 --> 00:57:13.270
have gotten out my bass guitar again,
00:57:13.280 --> 00:57:14.950
and I I haven't touched that in 15
00:57:14.960 --> 00:57:17.990
years. I started writing again. Uh I
00:57:18.000 --> 00:57:19.510
have a book coming out next month
00:57:19.520 --> 00:57:22.150
because of that. I I started doing all
00:57:22.160 --> 00:57:23.670
the stuff that I always loved, and I've
00:57:23.680 --> 00:57:25.829
I just haven't done because it was
00:57:25.839 --> 00:57:27.990
>> not important, right? It was not
00:57:28.000 --> 00:57:29.990
important to the day job. Now I'm doing
00:57:30.000 --> 00:57:31.670
it again and I'm finding
00:57:31.680 --> 00:57:33.750
>> I'm a much happier person. I'm a more
00:57:33.760 --> 00:57:37.190
whole person. I'm nicer to people. I'm
00:57:37.200 --> 00:57:38.630
better to myself
00:57:38.640 --> 00:57:40.789
>> and I'm finding ways to do things that I
00:57:40.799 --> 00:57:43.030
that are not linked to someone else's
00:57:43.040 --> 00:57:46.390
idea of what I'm supposed to be doing.
00:57:46.400 --> 00:57:48.069
>> So, I mean, it's it's a great feeling.
00:57:48.079 --> 00:57:49.990
It really is a great feeling. And I look
00:57:50.000 --> 00:57:52.710
over at my my mining my mining chart on
00:57:52.720 --> 00:57:55.109
my on my other monitor here and I see it
00:57:55.119 --> 00:57:57.109
ticking away and I I literally see the
00:57:57.119 --> 00:57:59.510
sats going up as I'm watching it. And it
00:57:59.520 --> 00:58:00.630
makes me happy because I know I'm
00:58:00.640 --> 00:58:02.069
sitting here talking to a good man
00:58:02.079 --> 00:58:04.390
through Zoom and while that's happening,
00:58:04.400 --> 00:58:07.510
I'm getting paid. I'm I'm okay
00:58:07.520 --> 00:58:09.349
>> and you know everything's going to be
00:58:09.359 --> 00:58:11.030
all right. It's been a very long time
00:58:11.040 --> 00:58:12.630
since I've been able to say to myself
00:58:12.640 --> 00:58:14.710
everything's going to be all right.
00:58:14.720 --> 00:58:15.829
>> So
00:58:15.839 --> 00:58:17.670
>> what you just described is the way life
00:58:17.680 --> 00:58:18.789
is supposed to be.
00:58:18.799 --> 00:58:19.349
>> Right.
00:58:19.359 --> 00:58:21.270
>> Right. Or or let me let me put it this
00:58:21.280 --> 00:58:22.069
way.
00:58:22.079 --> 00:58:26.150
>> Um it's it's how life should be given
00:58:26.160 --> 00:58:27.990
where we are in this point in time.
00:58:28.000 --> 00:58:31.589
>> Right. uh we live in the the you know
00:58:31.599 --> 00:58:34.549
when you look at the way the the world
00:58:34.559 --> 00:58:37.430
is and I mean you know all speculation
00:58:37.440 --> 00:58:39.910
aside as to you know the city of
00:58:39.920 --> 00:58:42.549
Atlantis or Egyptians having you know
00:58:42.559 --> 00:58:44.630
unbelievable power right aside from all
00:58:44.640 --> 00:58:46.630
of those kind of myths and things I
00:58:46.640 --> 00:58:48.230
don't know if they're right true or not
00:58:48.240 --> 00:58:50.390
neither neither direction would surprise
00:58:50.400 --> 00:58:54.150
me but um they uh you know we're we're
00:58:54.160 --> 00:58:56.470
really in this place especially you know
00:58:56.480 --> 00:58:58.950
us being in United states in the
00:58:58.960 --> 00:59:02.789
national republic of Texas. We are but
00:59:02.799 --> 00:59:06.150
but as a whole just even globally like
00:59:06.160 --> 00:59:08.230
we are in
00:59:08.240 --> 00:59:10.950
a time where
00:59:10.960 --> 00:59:13.270
you know more is possible than has ever
00:59:13.280 --> 00:59:15.030
been in the past right more
00:59:15.040 --> 00:59:17.750
opportunities exist to better your
00:59:17.760 --> 00:59:20.230
situation than anywhere else in the past
00:59:20.240 --> 00:59:22.789
and the lie is that you know you know
00:59:22.799 --> 00:59:24.630
America's terrible everything's terrible
00:59:24.640 --> 00:59:26.470
the world is terrible the war is
00:59:26.480 --> 00:59:28.150
happening you know there's always been
00:59:28.160 --> 00:59:29.430
wars there's always been fighting
00:59:29.440 --> 00:59:31.190
there's always and people at odds and
00:59:31.200 --> 00:59:33.750
and things like that. But um but we
00:59:33.760 --> 00:59:36.069
really do we have so many things at our
00:59:36.079 --> 00:59:39.109
fingertips and I'm trying I try to
00:59:39.119 --> 00:59:42.230
remain you know very grateful for you
00:59:42.240 --> 00:59:44.390
know this this global position that God
00:59:44.400 --> 00:59:45.670
has put me in.
00:59:45.680 --> 00:59:48.710
>> Um you know but because of that it's
00:59:48.720 --> 00:59:50.390
like
00:59:50.400 --> 00:59:54.390
that that that fiat lie and I'm not
00:59:54.400 --> 00:59:56.309
saying you know you shouldn't go get a
00:59:56.319 --> 00:59:57.990
job for someone you should.
00:59:58.000 --> 00:59:58.470
>> Right.
00:59:58.480 --> 01:00:01.030
>> Right. It's you not everybody can you
01:00:01.040 --> 01:00:03.990
know not everybody can own their own
01:00:04.000 --> 01:00:06.390
business. Anybody can but not everybody
01:00:06.400 --> 01:00:07.670
can or should
01:00:07.680 --> 01:00:10.150
>> and but you should at least be in a
01:00:10.160 --> 01:00:12.710
position to where you enjoy what you're
01:00:12.720 --> 01:00:13.910
doing.
01:00:13.920 --> 01:00:18.549
>> Um I I'm I'm kind of the same way. I
01:00:18.559 --> 01:00:20.069
played I started playing guitar when I
01:00:20.079 --> 01:00:23.750
was 14 and I did it for a long time uh
01:00:23.760 --> 01:00:25.430
very heavily through college. almost
01:00:25.440 --> 01:00:26.870
failed out of college because I was
01:00:26.880 --> 01:00:28.870
wasting too much time playing open mics
01:00:28.880 --> 01:00:30.390
and bars and stuff. And when I first
01:00:30.400 --> 01:00:34.390
moved to Austin like 25 man 20 20
01:00:34.400 --> 01:00:36.470
something years ago. I thought I was
01:00:36.480 --> 01:00:37.990
going to be a professional musician.
01:00:38.000 --> 01:00:39.910
Turns out I wasn't very good, but I did
01:00:39.920 --> 01:00:42.549
have a lot of fun playing, right? Uh I
01:00:42.559 --> 01:00:43.829
actually did get pretty good for a
01:00:43.839 --> 01:00:45.430
while, right? But there's a lot to that,
01:00:45.440 --> 01:00:47.349
right? You have to not just be good. You
01:00:47.359 --> 01:00:48.309
have to be phenomenal. It's
01:00:48.319 --> 01:00:50.069
>> a whole different
01:00:50.079 --> 01:00:51.829
>> Yeah. You have to hit the right time.
01:00:51.839 --> 01:00:53.190
You have to hit the right place. it's
01:00:53.200 --> 01:00:55.430
like, oh, you know, whatever. And I did
01:00:55.440 --> 01:00:57.589
it uh pretty heavy for about a year and
01:00:57.599 --> 01:00:59.109
a half, two years just when I first
01:00:59.119 --> 01:01:00.950
moved back and trying to kind of, you
01:01:00.960 --> 01:01:02.789
know, do it or whatever. And then, you
01:01:02.799 --> 01:01:04.470
know, end up getting married and, you
01:01:04.480 --> 01:01:06.150
know, having kids and jobs and stuff.
01:01:06.160 --> 01:01:07.829
And it's just like it it just became
01:01:07.839 --> 01:01:09.510
something that was always over in the
01:01:09.520 --> 01:01:11.990
corner of the case. And in the last
01:01:12.000 --> 01:01:14.150
couple years,
01:01:14.160 --> 01:01:17.589
>> uh, you know, I have had it's just, uh,
01:01:17.599 --> 01:01:19.430
I've kind of rediscovered it, right? I
01:01:19.440 --> 01:01:21.670
bought a guitar. I had the means to buy
01:01:21.680 --> 01:01:24.710
a guitar and it's like my dream guitar.
01:01:24.720 --> 01:01:26.789
Um, it's not super expensive. It was
01:01:26.799 --> 01:01:27.910
like three grand. It's not like I bought
01:01:27.920 --> 01:01:29.990
a 28, you know, Fender Strat, right?
01:01:30.000 --> 01:01:30.309
Right.
01:01:30.319 --> 01:01:35.750
>> I bought a uh I bought a the last um
01:01:35.760 --> 01:01:37.589
Eddie Van Halen guitar that he designed
01:01:37.599 --> 01:01:39.670
and made, right? The the Wolf Gang. It's
01:01:39.680 --> 01:01:41.589
I got the white one and it's the one
01:01:41.599 --> 01:01:43.270
with the the red kill switch on it,
01:01:43.280 --> 01:01:45.190
which he only ever used on like one or
01:01:45.200 --> 01:01:47.589
two songs. It's a stupid thing, but it's
01:01:47.599 --> 01:01:49.109
a beautiful
01:01:49.119 --> 01:01:52.230
>> It's a beautiful part of the instrument
01:01:52.240 --> 01:01:55.670
because it is a lot of work that he put
01:01:55.680 --> 01:01:58.150
in to create this one thing on his
01:01:58.160 --> 01:02:00.390
original guitar just for fun.
01:02:00.400 --> 01:02:00.870
>> Yeah.
01:02:00.880 --> 01:02:03.510
>> Right. There was no practical real
01:02:03.520 --> 01:02:05.589
practical application or whatever. He
01:02:05.599 --> 01:02:07.349
just did it because he's like, "This is
01:02:07.359 --> 01:02:09.190
cool. I wonder if I can do it." Right.
01:02:09.200 --> 01:02:10.150
>> Right.
01:02:10.160 --> 01:02:13.030
>> And so I've kind of rediscovered that. I
01:02:13.040 --> 01:02:15.589
got lucky, you know, with getting
01:02:15.599 --> 01:02:18.710
dragged into the industry or through my
01:02:18.720 --> 01:02:20.630
neighbor, you know, but it was because I
01:02:20.640 --> 01:02:22.390
had decided I was going to learn and
01:02:22.400 --> 01:02:23.750
build something and try to do something
01:02:23.760 --> 01:02:25.670
I'd never done. And I used to do that
01:02:25.680 --> 01:02:26.630
all the time.
01:02:26.640 --> 01:02:28.710
>> I got a degree in art sculpture.
01:02:28.720 --> 01:02:29.190
>> Love it.
01:02:29.200 --> 01:02:34.309
>> And I almost never use that that uh um
01:02:34.319 --> 01:02:36.390
you know that part of my brain. I I I
01:02:36.400 --> 01:02:38.309
need to get back into drawing and
01:02:38.319 --> 01:02:39.670
painting and sculpture and stuff like
01:02:39.680 --> 01:02:40.950
that. and you start doing that and
01:02:40.960 --> 01:02:43.030
you're like it's just good for the soul.
01:02:43.040 --> 01:02:45.270
So at once a day at least I don't care
01:02:45.280 --> 01:02:48.230
what your you know I mean even if I was
01:02:48.240 --> 01:02:49.750
you know president of the United States
01:02:49.760 --> 01:02:52.789
and I was going 23 hours a day right I
01:02:52.799 --> 01:02:54.870
would find 15 20 minutes to sit down
01:02:54.880 --> 01:02:57.270
somewhere and just strum or play a
01:02:57.280 --> 01:02:59.430
guitar whatever came to my head
01:02:59.440 --> 01:03:03.270
>> you know whatever just play it just good
01:03:03.280 --> 01:03:06.710
for the soul and there's nothing there's
01:03:06.720 --> 01:03:08.630
nothing wrong in fact it's probably one
01:03:08.640 --> 01:03:10.309
of the best things you can do is just do
01:03:10.319 --> 01:03:11.990
something just for the joy of it you
01:03:12.000 --> 01:03:13.510
know what I Mhm.
01:03:13.520 --> 01:03:15.270
>> And like you said also, I love the way
01:03:15.280 --> 01:03:17.430
you described it too. You're like, um,
01:03:17.440 --> 01:03:18.710
you know, we were living for the
01:03:18.720 --> 01:03:20.549
weekends and then really what's really
01:03:20.559 --> 01:03:21.910
sad is they kind of take that away from
01:03:21.920 --> 01:03:22.870
you too because you just feel like
01:03:22.880 --> 01:03:23.910
you're resting and catching up.
01:03:23.920 --> 01:03:24.630
>> That's all we're doing,
01:03:24.640 --> 01:03:25.270
>> you know.
01:03:25.280 --> 01:03:28.710
>> Yeah. So, it's like uh but but the best
01:03:28.720 --> 01:03:30.230
thing you said though, it's like I'm
01:03:30.240 --> 01:03:31.910
doing this
01:03:31.920 --> 01:03:34.390
uh I'm doing the things I'm doing not
01:03:34.400 --> 01:03:37.190
because someone else is telling me to do
01:03:37.200 --> 01:03:39.190
them, not because it's what's, you know,
01:03:39.200 --> 01:03:41.510
it's like you get to choose what's
01:03:41.520 --> 01:03:42.630
important.
01:03:42.640 --> 01:03:45.029
>> Um and if you're lazy and you don't do
01:03:45.039 --> 01:03:47.029
anything constructive, well, you reap
01:03:47.039 --> 01:03:49.430
the benefits of that, too, you know,
01:03:49.440 --> 01:03:52.870
which is usually no benefits. Um I've
01:03:52.880 --> 01:03:54.549
been
01:03:54.559 --> 01:03:57.750
uh you know very blessed
01:03:57.760 --> 01:04:00.870
in both the ups and downs you know um
01:04:00.880 --> 01:04:03.190
learning what I've learned being able to
01:04:03.200 --> 01:04:04.870
work and learn what I've learned during
01:04:04.880 --> 01:04:06.230
a bare market
01:04:06.240 --> 01:04:09.430
>> has really shaped me and then when and
01:04:09.440 --> 01:04:11.190
then when things when I make stupid
01:04:11.200 --> 01:04:14.870
decisions and I have to deal with the
01:04:14.880 --> 01:04:17.910
repercussions of that that and make you
01:04:17.920 --> 01:04:19.910
know what I like to call fiat choices
01:04:19.920 --> 01:04:21.510
right where you I spend
01:04:21.520 --> 01:04:22.549
>> term too. Yep.
01:04:22.559 --> 01:04:24.630
>> Yeah. I spend way too many sats, you
01:04:24.640 --> 01:04:26.230
know, just because we're on a bull run
01:04:26.240 --> 01:04:27.510
and I think it's going up forever,
01:04:27.520 --> 01:04:29.910
right? I you have to go through that and
01:04:29.920 --> 01:04:31.910
figure that out. And then like the last
01:04:31.920 --> 01:04:34.789
time, you know, this last job
01:04:34.799 --> 01:04:37.670
opportunity I got, man, it came at a
01:04:37.680 --> 01:04:40.309
time when I I just I didn't know, right,
01:04:40.319 --> 01:04:43.670
how how much longer I could last.
01:04:43.680 --> 01:04:47.510
>> I didn't know. Um and it and it came
01:04:47.520 --> 01:04:50.870
along. I I hadn't it wasn't even like
01:04:50.880 --> 01:04:53.510
the money wasn't even there. I just saw
01:04:53.520 --> 01:04:57.829
something cool to do. I tried to do it
01:04:57.839 --> 01:05:00.390
and and it was like, you know, I I
01:05:00.400 --> 01:05:01.670
didn't even know if the money was going
01:05:01.680 --> 01:05:02.470
to come.
01:05:02.480 --> 01:05:05.750
>> You know what I mean? I just kept doing
01:05:05.760 --> 01:05:07.589
it, right?
01:05:07.599 --> 01:05:09.270
>> Because I didn't want to do anything
01:05:09.280 --> 01:05:11.109
else. It was just everything else was
01:05:11.119 --> 01:05:11.750
boring,
01:05:11.760 --> 01:05:12.230
>> right?
01:05:12.240 --> 01:05:15.349
>> Um and and I I just kept doing it. And
01:05:15.359 --> 01:05:18.150
then once it actually did hit or it was
01:05:18.160 --> 01:05:19.670
really funny the most thing I was most
01:05:19.680 --> 01:05:21.270
grateful was just keeping the
01:05:21.280 --> 01:05:24.150
opportunity and the program going
01:05:24.160 --> 01:05:27.190
um even just temporarily because I just
01:05:27.200 --> 01:05:28.309
thought everybody told me it was
01:05:28.319 --> 01:05:30.390
impossible. Like it's just not possible
01:05:30.400 --> 01:05:32.549
for this to happen or for you to even
01:05:32.559 --> 01:05:35.029
get to this or whatever. And in one week
01:05:35.039 --> 01:05:36.950
I made it happen. And I mean I was just
01:05:36.960 --> 01:05:38.630
I was just broken. I just fell on my
01:05:38.640 --> 01:05:39.750
knees. I couldn't believe because I
01:05:39.760 --> 01:05:40.710
didn't deserve it. Right.
01:05:40.720 --> 01:05:41.910
>> Right. I was like I can't believe this
01:05:41.920 --> 01:05:43.670
happened. I can't believe I was, you
01:05:43.680 --> 01:05:45.990
know, this happened,
01:05:46.000 --> 01:05:47.829
>> right? It's like I worked my tail off at
01:05:47.839 --> 01:05:49.910
it, but I can't believe it that the odds
01:05:49.920 --> 01:05:51.270
were against me.
01:05:51.280 --> 01:05:54.630
>> Um, and so, so I teared up a little bit,
01:05:54.640 --> 01:05:55.910
too. It's okay. I'm not going to take
01:05:55.920 --> 01:05:58.069
your man card. I will say that Ron
01:05:58.079 --> 01:06:00.710
Swanson from Parks and Wreck is one of
01:06:00.720 --> 01:06:01.910
my favorite quotes of his. He said,
01:06:01.920 --> 01:06:03.430
"Crying
01:06:03.440 --> 01:06:06.309
uh crying for men only allowed at
01:06:06.319 --> 01:06:07.670
funerals in the Grand Canyon."
01:06:07.680 --> 01:06:09.990
>> Yes, sir. [laughter] everything else.
01:06:10.000 --> 01:06:10.470
[snorts]
01:06:10.480 --> 01:06:13.270
>> Everything else you're not allowed.
01:06:13.280 --> 01:06:15.109
>> Uh I think you're allowed a single tier.
01:06:15.119 --> 01:06:16.549
I don't think that counts. So just a
01:06:16.559 --> 01:06:18.309
single tier, you know,
01:06:18.319 --> 01:06:20.549
>> but uh but it's just, you know, it makes
01:06:20.559 --> 01:06:23.430
you it makes you grateful having this
01:06:23.440 --> 01:06:26.870
time, you know, uh makes you grateful.
01:06:26.880 --> 01:06:28.390
And it's weird. It's like when things
01:06:28.400 --> 01:06:31.029
are rolling again, it's like you, you
01:06:31.039 --> 01:06:34.870
know, my biggest hope for myself that
01:06:34.880 --> 01:06:37.430
hopefully I'll learn is that the next
01:06:37.440 --> 01:06:39.109
time I'm just really rolling, we're in a
01:06:39.119 --> 01:06:41.029
bull run and we're, you know, going nuts
01:06:41.039 --> 01:06:43.510
at a new all-time high and Bitcoin's at,
01:06:43.520 --> 01:06:46.069
you know, three or 400K, right? I'm not
01:06:46.079 --> 01:06:47.109
dumb.
01:06:47.119 --> 01:06:49.190
>> I'm not stupid and go out, hey, you
01:06:49.200 --> 01:06:50.549
know, I'm gonna go buy a Lambo, you
01:06:50.559 --> 01:06:53.430
know, whatever. I just that is my that
01:06:53.440 --> 01:06:55.829
is my think. But um but going through
01:06:55.839 --> 01:06:57.270
these what you're going through now,
01:06:57.280 --> 01:07:00.069
right? It's realigning
01:07:00.079 --> 01:07:02.069
what you see as important, you know,
01:07:02.079 --> 01:07:03.670
with your with your wife, with your
01:07:03.680 --> 01:07:05.990
family, with you know, with things, with
01:07:06.000 --> 01:07:08.950
life or whatever. And it it I I realized
01:07:08.960 --> 01:07:11.589
I was kind of, you know, we drift in and
01:07:11.599 --> 01:07:13.029
out. You know, I made plenty of bad
01:07:13.039 --> 01:07:17.510
decisions, but in um uh I guess like 20
01:07:17.520 --> 01:07:18.870
five, right, when we were at the
01:07:18.880 --> 01:07:20.150
all-time high,
01:07:20.160 --> 01:07:25.270
>> but like but in um but in uh 23 and 24,
01:07:25.280 --> 01:07:26.789
man, we were technically in a bull run.
01:07:26.799 --> 01:07:28.870
We were running and I was like, I just
01:07:28.880 --> 01:07:30.789
can't I I I can't buy Bitcoin fast
01:07:30.799 --> 01:07:32.390
enough. It's all I want to do. It's all
01:07:32.400 --> 01:07:33.829
I want to do. It's all I want to do. And
01:07:33.839 --> 01:07:35.750
it was either buy Bitcoin or buy, you
01:07:35.760 --> 01:07:37.349
know, miners and get hash rate plugged
01:07:37.359 --> 01:07:39.670
in and all that stuff. So, it realigns
01:07:39.680 --> 01:07:42.710
it. And then like what I've been lucky
01:07:42.720 --> 01:07:46.069
this last few months now when things are
01:07:46.079 --> 01:07:47.589
kind of in the from a hash rate
01:07:47.599 --> 01:07:48.870
perspective,
01:07:48.880 --> 01:07:50.870
>> I've gotten to been able to plug in
01:07:50.880 --> 01:07:51.829
quite a bit
01:07:51.839 --> 01:07:53.910
>> for me personally, you know, because
01:07:53.920 --> 01:07:54.630
it's cheap,
01:07:54.640 --> 01:07:58.870
>> right? And so and so it's like um you
01:07:58.880 --> 01:08:01.270
know it's realigning me to where and
01:08:01.280 --> 01:08:03.430
then you know the next two or three
01:08:03.440 --> 01:08:04.789
years I think we're gonna run really
01:08:04.799 --> 01:08:05.829
really hot
01:08:05.839 --> 01:08:07.190
>> and I'm not going to have to worry about
01:08:07.200 --> 01:08:08.150
I'm not going to worry about putting
01:08:08.160 --> 01:08:09.910
hash rate on if it gets
01:08:09.920 --> 01:08:11.829
>> if it gets busted by the having I'm like
01:08:11.839 --> 01:08:13.910
okay it's busted. It's fine. I don't
01:08:13.920 --> 01:08:15.510
care let it go.
01:08:15.520 --> 01:08:17.990
>> Um you know and and and stuff like that.
01:08:18.000 --> 01:08:19.910
It's like just kind of understanding
01:08:19.920 --> 01:08:22.309
those cycles and the ups and downs, but
01:08:22.319 --> 01:08:24.870
removing the volatility from yourself,
01:08:24.880 --> 01:08:27.110
right? You're you're realigning, right,
01:08:27.120 --> 01:08:28.470
what's important
01:08:28.480 --> 01:08:31.269
>> and and that's what that's what this can
01:08:31.279 --> 01:08:32.550
do.
01:08:32.560 --> 01:08:33.189
>> So,
01:08:33.199 --> 01:08:34.950
>> yeah. And you know, I would never and I
01:08:34.960 --> 01:08:36.149
know you wouldn't either. I would never
01:08:36.159 --> 01:08:38.149
say to someone and recommend to them if
01:08:38.159 --> 01:08:39.349
they came to you and said, you know,
01:08:39.359 --> 01:08:42.149
David or or Joe, what I want to get into
01:08:42.159 --> 01:08:44.470
mining, uh, you know, [laughter] let let
01:08:44.480 --> 01:08:46.309
me you know, what should I buy? like,
01:08:46.319 --> 01:08:47.910
you know, I'm out of a job right now.
01:08:47.920 --> 01:08:49.430
I'm on severance right now. What should
01:08:49.440 --> 01:08:50.630
I buy? You know, my first thing to say
01:08:50.640 --> 01:08:52.870
to somebody is like, uh, you maybe you
01:08:52.880 --> 01:08:54.149
want to double, you want to rethink
01:08:54.159 --> 01:08:55.669
that. Now, I'll say that to someone
01:08:55.679 --> 01:08:57.030
else, but at the same time, David, I
01:08:57.040 --> 01:08:58.149
turned around and the second I got my
01:08:58.159 --> 01:09:01.030
severance check, I called up my hosting
01:09:01.040 --> 01:09:02.470
company and I was like, "Okay, we're
01:09:02.480 --> 01:09:04.390
we're putting some hydros online."
01:09:04.400 --> 01:09:06.070
>> That was the first thing I did. And, you
01:09:06.080 --> 01:09:06.789
know, yeah,
01:09:06.799 --> 01:09:08.550
>> a few years ago, that would have been
01:09:08.560 --> 01:09:09.990
unthinkable for me to do that. That
01:09:10.000 --> 01:09:11.669
would have been silly.
01:09:11.679 --> 01:09:13.510
>> But that but you've done the research
01:09:13.520 --> 01:09:14.950
and you know what you know. I know
01:09:14.960 --> 01:09:17.030
what's coming with that. Exactly. I knew
01:09:17.040 --> 01:09:17.910
the risk.
01:09:17.920 --> 01:09:19.510
>> We're in the bottom of the curve right
01:09:19.520 --> 01:09:22.390
now. Prices depreciated, but eventually
01:09:22.400 --> 01:09:24.390
and hash rate is kind of going they're
01:09:24.400 --> 01:09:26.550
both going down the chart, right?
01:09:26.560 --> 01:09:28.070
>> And then they're both going down and
01:09:28.080 --> 01:09:30.309
then like eventually
01:09:30.319 --> 01:09:32.709
>> that hash rate or the uh the price will
01:09:32.719 --> 01:09:34.789
cross. We'll have a nice little cross
01:09:34.799 --> 01:09:36.149
and then it'll take forever for that
01:09:36.159 --> 01:09:37.349
hash rate to meet that price
01:09:37.359 --> 01:09:38.709
appreciation. And that little bubble
01:09:38.719 --> 01:09:40.070
there is where all the magic happens.
01:09:40.080 --> 01:09:42.789
>> Where the magic happens. Man, man, you
01:09:42.799 --> 01:09:44.178
got to wait a long time to get
01:09:44.188 --> 01:09:44.309
[laughter]
01:09:44.319 --> 01:09:45.510
>> Yeah. You and that's where the time
01:09:45.520 --> 01:09:47.189
preference comes in and patience and all
01:09:47.199 --> 01:09:48.229
those other things that I didn't have
01:09:48.239 --> 01:09:49.669
when I was a younger man. You know, I
01:09:49.679 --> 01:09:51.349
would have never done that. Uh, you
01:09:51.359 --> 01:09:53.110
know, you you were talking about your
01:09:53.120 --> 01:09:55.030
that that guitar that you really liked,
01:09:55.040 --> 01:09:56.630
right? Like I've got that reminds me
01:09:56.640 --> 01:09:58.950
like I've got bookmarked on Sweetwater.
01:09:58.960 --> 01:10:01.189
I've got that that Fender Getty Lee
01:10:01.199 --> 01:10:03.590
signature bass I've been staring at for
01:10:03.600 --> 01:10:04.630
years.
01:10:04.640 --> 01:10:05.510
>> That's a good one.
01:10:05.520 --> 01:10:07.990
>> 2500 bucks and I've been I know, right?
01:10:08.000 --> 01:10:09.750
And it's the whole there will be signs
01:10:09.760 --> 01:10:11.590
when it hap and you know I stare at it
01:10:11.600 --> 01:10:13.590
and that younger guy in me wants to just
01:10:13.600 --> 01:10:15.350
go ahead and click that button
01:10:15.360 --> 01:10:16.950
>> call my guy over at Sweetwater because
01:10:16.960 --> 01:10:17.910
they I don't know if you ever worked
01:10:17.920 --> 01:10:19.110
with them but they always give you your
01:10:19.120 --> 01:10:21.830
personal your personal purchaser right
01:10:21.840 --> 01:10:23.189
>> that guy bugs me all the time.
01:10:23.199 --> 01:10:25.110
>> Yep. Yep. Yep. Clay will hook me up. I
01:10:25.120 --> 01:10:26.790
know if I call him right now he'd hook
01:10:26.800 --> 01:10:29.030
me up. But
01:10:29.040 --> 01:10:32.470
>> 2500 bucks to me right now is also a S21
01:10:32.480 --> 01:10:33.750
XP.
01:10:33.760 --> 01:10:37.030
>> Yeah. So, you know, it's that time
01:10:37.040 --> 01:10:38.870
preference, right? Do I want Can I My
01:10:38.880 --> 01:10:40.390
other base is going to do just fine. I
01:10:40.400 --> 01:10:41.669
don't need Getty Le's name on it. I
01:10:41.679 --> 01:10:43.910
don't I don't need right now.
01:10:43.920 --> 01:10:44.149
>> Yeah.
01:10:44.159 --> 01:10:46.630
>> But that S21, that's a different story
01:10:46.640 --> 01:10:47.830
because that's going to pay off. It
01:10:47.840 --> 01:10:49.830
>> is. It's going to pay off and it'll pay
01:10:49.840 --> 01:10:54.470
off fast. Um in the next six to nine,
01:10:54.480 --> 01:11:00.813
>> 12 months, it'll pay off very fast.
01:11:00.823 --> 01:11:07.364
>> [music]
01:11:07.374 --> 01:11:15.830
[music]
01:11:15.840 --> 01:11:21.990
>> Hey,
01:11:22.000 --> 01:11:25.000
don't