Heating Our Office with Bitcoin Miners | Britcoiners by CoinCorner #109

Join Danny, Molly, Zakk and Dave for industry-led opinions on important Bitcoin stories from the week. Topics this week include: Bitcoin price, Jim Cramer, are miners consolidating rewards, Barry Silbert resigns from Grayscale, New Bitcoin ETF adverts, SBF will not face second trial, MicroStrategy buys more Bitcoin, Heating the CoinCorner office with miners. Britcoiners is a Bitcoin podcast by CoinCorner (https://www.coincorner.com) - a global leader in Bitcoin and Lightning services. #coincorner #britcoiners #bitcoin #bitcoinpodcast #bitcoinnews

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these exchanges out there that are just purely surviving on price speculation will start to dwindle away as people stop speculating on random coins and Bitcoin obviously coming into the focus with [Music] ETF go well welcome back Happy New Year for you guys to be like not going anywhere happy new I was wondering the other day how long do you have to say him happy New Year for I said it in a lot OFA to people yesterday I was like where's the cut off point of wishing people happy New Year now is today you never do it third January that's not mention again I think I've said it to two people in messages and emails other than that not bothered no I can't even be as typing Happy New Year I just write hm y everyone thinks the same only yeah it's just not worth it someone thought you were writing horny in the tra I know it says more about them I think I think so he was I was Tu morning at 9:00 did anyone make it till midnight no no I never did definitely I did yeah just about I crawled across the line that was about one one I think that's all right good effort I wasn't drinking or anything so I don't really drink I went out at half1 and was back home by12 really I was in bed reading a book about cits that's that's why that's we I'll talk to you about that afterwards really weird I just realized that I was reading the same book New Year conversation on something with it actually what on CIT yeah that's I'm very random said that on what CIT what is that uh the is it the Concentration Camp there was a prison of War camp in Germany where they held all the prisoners who were very anti-german and looking to escape all the time and also prestigious prisoners like people related to royal family or the nephew of Winston Churchill they're all kept there really famous because there's so many Escape attempts were were made out of it film dougas B was there you know Douglas B oh yeah doggy Douglas B Dog what a way to bring the New Year anyway it's really it's a really good book you should it's a really good social so welcome to our Bitcoin podcast oh CL yeah a good book anyway right got the agenda well before we kick off the agenda happy birthday bookin oh yeah Happ birthday 15 years today since the Genesis block was M all right is it yep third of January 2009 okay that's why we're all here yeah you guys could be a bit more grateful bit more thankful we have the fireworks don't know the the oh the explosion the explosion expion every time we mention that Mikey doesn't do it we look like idiots got Las yeah they just leave that sound like on Step Brothers put that's a great film yeah anyway happy birthday 15 years cool right what's on the agenda okay agenda uh Bitcoin miners Splash out 600 million in a race to squeeze out Rivals uh Barry Sila and Mark myy have resigned from grayscale uh micro strategy is acquire more Bitcoin hasht hasht I don't know who they are um they've released a Bitcoin Adit some bankman freed he won't face a second trial um Black Rock stuff more Black Rock stuff Jim Kramer or krer krer Kramer Kramer uh he says you can't kill Bitcoin and it's here to stay it's the worst thing he could have said that yeah and then B price I've realized something today I think is hilarious on that I didn't know it existed but we'll get to that no like this is amazing the tracker of it yeah yeah leg tagged it yeah yeah oh God okay we should save that one to the end then nice I forgot to mention as well our Bitcoin miners just I forgot about it cuz it's so quiet but I just hit just heard it in the yeah yeah we'll have a section on that Bitcoin miners heers Bitcoin miners heers heers yeah what have you other call cool do you want to address the comment up front let's address uh oh yeah so we like calling out funny comments on this pod and I missed this is the spam one though yeah so was a reply to a bot from a real person there was a bot saying this this video is brilliant it should get more more traction up we knew immediately that was a bot you see that's a bot you see that and then someone an actual real person commented saying they probably aren't getting as much traction because they're talking hard money to two homeless people and I think I I think looking at were the Columbians trumpy type individuals trumpy type is fine but Bitcoin is for everyone so the comment is all valid like you should be able you can talk hard money with people at home or anyone that's not about what you look like that's very true yeah that so shallow that's what I thought exactly I can't believe I missed that that's so that happened I I think I must have deleted the other comments so it might not be there yeah one yeah no the spam ones it's just full of stuff about scams so many of them Danny just protecting our feelings people didn't see that the spam do that not like is it not new year new year no we haven't changed one bit no look at me don't change look at me think he's done that hair in seven years look at this spe not mad it does look like a homeless man anyway agenda right price Uh current price 45 700 not Dro think it's about 44 I printed this about an hour ago yeah no it wasn't even that then 44 was yesterday it's Jesus What's happen there at that well that was a good time to do the Pod so it's dropped from 45 to 42 yeah it was dropping there 42,000 very quickly you watch ETFs are canceled yeah is there anything in the news on yeah something I'll quickly do a live thing breaking news no I was see I saw it droing that's why I thought it was 44400 so it has it's only this is why you just never read exactly what you've been given on the sheet yeah in the last hour isn't it I don't know you had a m is sell is someone come out s the sell should you be worried don't I would any of Articles to be we might might get an update next week we find out let's try to have an no you can do a little appendix anyway okay so live price what was that 44 42 42 42 42 oh wow we just lost 3K like last this time yesterday was like 45 yeah four oh well it's just Bitcoin for you it yeah I was also trying to any doesn't matter I was move doesn't edit that yeah yeah anyway we'll come on to we'll come on to it shortly anyway I think I I think everyone's blaming uh Jim kmer Kramer what thing that they need to be wary of in terms of the reverse Kramer should we jump up to the Kramer now then should we just CU we can't around it so much okay so he says you can't kill Bitcoin and it's here to stay fine had a lot of good opinions on bitcoin that and conver opinions but I didn't realize PE there is a Jim Kramer ETF that is the inverse of his advice so you could actually invest in a a ETF that has the inverse TR can act approve yeah so when he says oh this is really good they all go like go against it when he says something's bad they'll go into it it's in the percentage as well of what he is right vers is wrong on his someone's track people tracking that I think it's it's just over 50 % he's incorrect just under 50% he's say 49 51 let's say but so it's literally a flick of a coin yeah but my problem with the reverse ETF which I thought was hilarious because people have just realized how wrong he is um it doesn't have Bitcoin in it because it technically can't have Bitcoin in it as an ETF not the minute oh so they the yeah so it doesn't look like the reverse Kramer ETF hasn't performed that well over the last year but if it had Bitcoin in it it it would smashed it and obviously it's just Wonder then if the 51% actually if he' had done that with Bitcoin included in it then that would have been even more had a quick look at it this one cuz I thought it was hilarious that people have actually done that to create iners ET but just CU he's like he's got his own is it his own TV channel and his own podcast and all that sort of stuff talking about finance and what to invest in and all this sort of stuff and yet he's wrong 51% going every time like this is incredible yeah but that's like all hedge fund we used to be a hedge fund manager right like a lot of consistently right is that's my point these people nobody knows what they're talking about he's interesting on a platform though he's a clever man funny to laugh at I don't know if he's clever he's flicking a coin and saying pick that one may as well go back with his thingy doesn't mean you're clever if you go to Harvard it means you're a rich kid does he no top of his class grad top of his class at Harvard went to Harvard can we validate that way this is what was his class like psychology or something no uh politics I think Pol government he wasn't Finance or anything he was in the top 20% of his class in politics Magna pretty in government in government a degree yeah he he also editor of the Crimson all prestigious roles I mean so he's he's playing a game as a politician almost is he then in terms of cuz now he's giving Financial advice people Ren young man worked for JP Morgan didn't he or Goldman one of them and now he's giving Financial advice to people that get wrong 50 he ran a hedge fund I mean he's well positioned to do what he's doing and he's there's no but there's no way out this day I just think he's a okay I've never heard anyone talk positively about the guy if I'm brutely honest no you're the first On's got to be first trying my best anyway that's the point nobody really knows has a clue but I mean so what did he say yesterday about Bitcoin it's um you can't kill it it's here to stay you can't kill it yeah yeah he was just he said everyone was wrong except the Bulls yeah there you go and then the price goes down 6% a day there's there's the crr that is it isn't it that's the inverse Kramer right there so he's just really posi about Bitcoin and then it shoot absolutely crazy people will probably it'll become a self-fulfilling prophecy though it because people will be then trading against him not got that sort of weight he do he's follow yeah yeah he's on mainstream USC but CNBC I think he yeah people aren't it's the investment segment they're all taken seriously so they must have to yeah but you're saying it's if the inverse is self forf feeling so like we're seeing now well there's there's a actual mad money from 2005 Mark for the inverse Kramer on the left yeah M you his TV show mad money has been on since 2005 he's still on now I'm sorry so have we just proved the inverse Kramer because if he was positive yesterday now as Bitcoin just crashed everyone's proved it over the years that's the whole point of that ETF yeah etf's not performing very well that means it's not proving probably itself out cuz he's 41% 49 versus 51% anyway CR ridiculous rather them stay away from Bitcoin they can't stay away from it that's the whole point over the years he slagged it off over the years constantly hasn't yeah okay anyway this what it is right that's the beginning yeah yep one psychopath to up to up to you one psychopath to the next let's go um I don't know how to follow on from that take away want Molly the power I just maybe I just work backwards that's what a psychopath would do uh Bitcoin minor splashed out 600 million to race in a race to squeeze out the rivals mhm do you guys read this uh yeah people are just buying a lot of capex for mining but then you threw a curveball in there I think it might be related in terms of oh yeah I don't know what that was Yeah so basically a lot of the big maners have bought a lot of there has been a new the yeah but the S S21 just come out so a lot might be upgrading cuz there a new Miner which they always do yeah yeah so it's I it's more efficient you got more hash for your wattage um so it kind of makes sense are they prepping for the big bull run it'd be a good time to do it yeah and then this is not kind of related to that article I sent which was from the minor mag about how a bunch of miners are kind of sending a lot of their coinbase reward to the same address and if there's some kind of finan her that's kind of cuz brains have just joined sending it to that address and they've just changed their payment model haven't they to so you can't snipe mine anymore yeah I was also thinking if they're all loading up for AI purposes as well so if they were like so you just thinking we for back conversation we had 10 minutes that's what I'm saying thought you going to fre if we forget Dave speculation of things so what are you insinuating there just for people listening happening in I don't know the same address the article insinuates there's some kind of finan behind all of them kind of they're needing to send the Bitcoin and sell it and but I don't know that didn't make sense to me um I know it's been speculation past they're all using the same like custody provider um but yeah the article didn't really have a conclusion you need fin answerer in terms of the rewards model cuz it doesn't matter if they m a block they're still paying out rewards so the yeah this is just coinbase going to and address auman exchange they selling it and getting the Fe not financing that was making my head I don't know what the percentage of cuz it's not all of the blocks mine is it say anol for example not all of them are going that same no one it's only a percentage so it would make sense that a minor that controls lots of miners is splitting their hash rate across PS um with what I would see that as yeah and then they're just a big minor that's a a Foundry or um what's the other guys in the US the big guys there they've got a lot of hash rate um I mean it could also be when you think about like I know El Salvador slowly turning on and there's talk around other countries already mining things and El man mining I know they're just well we from what we can tell and what we can see they're just setting things up and getting things moving however have the actually are the further ahead than we are aware of them and is it a big minor yeah the article kind of yeah kind of says that the article kind of insinuates this kind of antpool bit main driven so obviously when they relaunched an pool and they got a massive hash rate and whether they took it from other pools to point it towards there so they're using their own miners they've going to point to different pools spread the the load they don't want want 51% on ampool and everyone jumping ship from it yeah uh yeah my other point was that Zach sent me an article this might be more related to this actually miners buying a lot of equipment some mining companies might be diversifying to AI in terms of computing power for AI programs so yeah there's few Market places now that have launched where you can put kind of hash rate towards training Ai and then they you get payment back for that yeah okay so it might not yeah Bitcoin mining operation could eventually turn into whatever was most profitable kind of Point towards video rendering as well is another big one it's always been the consideration that hasn't though for like um what's it called the data Crunch and stuff um what's the word for it it's been going on for years see that with prime numbers and stuff people putting their computers influx in AI projects there might be more demand for it yeah we used to be able to do it for free you used to give it up for free for like uh research purposes whether on certain things like for health and research and stuff um there's a term for it I can't remember the name um but that yeah that was not you could have you put your mining power to but actually you can make money putting your mining power so maybe the AI yeah you can so like the Bitcoin price is tank money from it was that and AI is more was that not like the first ever use case for the internet was that not why the internet was no to share share share like no it was to share University like uh information basically I thought it was to share like computer time because it's like only had limited number of machines and they would just connect to each other no you sure I'm I'm pretty conf I think I read a book you've read a book fiction yeah fical book I think I read a book they covered it in called it McIntyre yeah sorry it says there it's one Terra hash is it oh no that's one that's the pool itself called that so it's going to an address starting 38 HX y IG um all right new pool called SEC pool well that's interesting yeahp anyway just be mining there in broad daylight and confusing people don't he right next okay keep an eye on that uh Barry Sila and Mark Murphy are resigned from gyale Gray scale board of directors so I guess just in anticipation of Bitcoin ETF um they I assume I've had to step down due to um probably lots of reasons is obviously we don't know the the detail unless the article mentions does it I'm assuming it doesn't really specify a gray scale switch into a um a proper ETF thing trying to they're trying to did they get approval to do it they did didn't they they they've had won the case I think they just filed changes to it like yesterday but why like may you covering this in terms of Arc have just pulled like like 100 million out of yeah out of it going into they're doing their own ETF oh so you don't want you can't sell your ETF if you've got money in someone else's went into a future into the future's ETF so it's just like why have they pulled out that but they also pulled out um quite a chunk of investment out of Co base oh did they yeah so there's a bit of maneuvering going on people repositioning jogging for position in the ETFs I think that's an interesting comment there um however I have to say SEC is busy stuffing crypto industry with X Goldman guys um it's just a comment from somebody but I'm assuming then is The Replacements for on gr scale the ex Goldman oh yeah yeah I mean if we is Goldman the actual gold dust Gold Dust on your CV isn't it you do see seem like you employed for life if you got that somewhere which is crazy it's crazy you see the big company that oh look at Jamie Diamond where's he WS into well I don't know where he was originally but but he's now where he put him on the board somewhere hav't he um I don't but yeah he's still in bar JP Morgan is he so he's of course he's going to demand but did not did an ETF not put him on a board that's coming on to yeah is that not there oh I didn't see that so he's like he said that how much he hates Bitcoin and yet he said thinks all crypto should illegal used for terrorists and Drug faning yeah drugs and terrorist finance and where's he where's he now appointed to Black Rock unbelievable so no Black Rock of named JP Morgan as the authorized participant for the spot bit there's Nam two is it JP Morgan and somebody else remember the other one was um obviously Jamie demon being uh JP Morgan is it is it demon demon demon Diamond d d i m o n I thought it was Diamond like if you put D on the end it would be Diamond both di demon how do you spell diamond I thought it was I thought it was Diamond a I thought it was diamond diamond demon I yeah demonon ssad demon I would go diamond on that just call him Jamie D J Jamie jie D J JD so yeah he's um yeah that was one of the other points but yeah Black Rock have assigned them that as which is in one very odd but in two maybe very obvious because the biggest are they the biggest bank in the world JP Morgan now big top three aren't they whatever they are um which Janes Stree was the one that was it was it yeah but yeah just bit ironic after he said that he thinks it should be illegal really yeah yeah he's not commented since has he well that one died down for a while too busy deleting his Twitter get rid of it all cuz that was in front of Senator Warren as well at the time he was like on full on like in front of the Senate maybe know you're audience she'd love to hear that but buttering them up so I'm curious as to whether he has any input on that he would have oversight obviously wouldn't he but maybe it'll be a different department different people that are overseeing it and have the oversight so that'll be his excuse to three yeah read that out three weeks after JP Morgan see says Bitcoin is for criminals drug traffickers and money launderers in front of Congress they appoint Black Rock appoint him to the board come on what's going on he may not have had any involvement that'll be his excuse I'm sure I'm not trying to defend him in any way whatsoever but I'm guessing he would come out probably saying he had no involvement in it and you know JP Morgan a massive company with tens of thousands of staff and if not hundreds of thousand not from um I'm sure he'll use that as an excuse or he'll do a a cramar and just completely reverse and that's it now he's bullish on bitcoin for all we know now next tweet will be coming out bitcoin's great everyone should get it or something because he's now involved in ETF no idea you're allowed to change your opinion right but what he won't do is say sorry I got it wrong I was wrong about this my information at the time told me that like all politicians do oh now be fair sailor did that yeah he had TW yeah so but maybe we can't be too harsh on people saying stuff if they eventually come around but three weeks three weeks have been surely as one extreme taking me 30 seconds to go from he's he's an idiot to abely he's allowed to it takes you 40 hours doesn't it to to learn something you could have done that within three weeks 40 what's that 40 hours depends what you learn no what I thought if this pilot has at 40 hours to I'm not getting off if you're on heart surgery he's done his 4 he's done 41 hours 41 up oh my God maybe I'm wrong there maybe I think 10,000 hours 10,000 hours are concentrated you got to playing someone you done 10,000 hours yeah cuz that that's if you read the book bounce that's what it takes apparently okay cool ETF talk anyway yeah it looks like obviously everyone's expecting it to be proved that price something might have happened um yeah we'll be at potentially 35 oh ETFs are off the table scrap this um but yeah interesting while we're on ETFs then we might as well talk about all the ETF adverts out that's one yeah we're bouncing back back bouncing we're not 41 it's this coin market cap just delay some reason it shows you the old price like two hours ago and then refreshes so what was Sor Z we've had a few we talked about the van one as well van hash now we had a com we had a comment after watching one of these last time didn't we so me and Dave immediately paused that and had a look for on all the memorabilia on the desk looking for books really um bit got the coffee and coffee from Salvador that we got that looked like buy Bitcoin sign from there I know that's why see I respons yeah I did but I didn't realize that was what you let's bring our advert out that we've not released we we not put that anywhere no I mean did we send it to Bedford yeah it's public with them but no it never they never used it did they they not using it the G well we've not seen any evidence of it I don't know I need to check with them there's not many people would see it if it's a gam maybe if someone's seen it I imagine people would commented on it cuz it's impactful enough I wouldn't expect I haven't seen this one yet this is my first watch one same kind they've St must have seen it St our probably need sound in terms of what they're explaining they'll hear sound we just won't might to pick up twice guess [Music] what that the home computers have had on on every and yet it seems the people I've talked to say that it takes you longer to do something by putting it into a computer and calling it up again than if you just kept simple record yourself in the [Music] house new [Music] technologies it's quite a jazzy it is actually I don't like the the colors yeah yeah that is that vanx color very similar to that was hash I like color van was the first one but they're both using the same so we're going to rate them we've got van hash and what was the one before we had was the one from the other week think with the old man they're really good one the bitwise was it bitwise iory they've been making a few more of them as well I'm pretty sure play like two or three of them now the same guy this is the whole this is why they'll draw people at Bitcoin they're bringing advertising to yeah but the good thing is 99% of the population don't know what an ETF is they just see Bitcoin adverts everywhere so if they seen Bitcoin adverts everywhere POS because Bitcoin only ETF as well it's not [ __ ] coin heavy yeah so I think it's a massive game changer for Bitcoin this year that someone said it take exchanges put exchanges out of business yeah someone commented on that from our last one um which was my uh original comments so yes in theory you will lose some customer base some volum um for people that want to try and use the ETF however as I've just mentioned 99% of people don't even know what an ETF is stands for they don't have a clue they just want to go and buy Bitcoin so they're going to go and probably still buy it most people retail audience and general public will probably just go and use an exchange still um the ones a bit larger institutional maybe that are buying um ETFs which is why coinbase so this goes back to my article from like over a year ago now and saying about coinbase and binance and things and saying they've got to at the minute their spec their business model is speculation on crypto currencies all different ones tokens Etc um they're going to start to lose their customer base in theory From coinbase's perspective at least any theirs is might have heavy institutional buyers which are now maybe going to Pivot to ETFs now coinbase are custody in for most of these ETFs so they're going to get income from the custody of these ETFs um but they may lose customers to that and at potentially large scale in some way um so why I was saying like um in my article from year ago was about how for me they have to all start changing their business model away from Bitcoin or cryptocurrency Price speculation and move to what Bitcoin was theoretically created for in some way in terms of a a currency that can be used um at a global scale in different ways whether it's cross border payments whether it's uh in person whether it's you know just sending money to friends family and so on that is where Bitcoin was headed in the early days obviously the price has made that impact and change in terms of you know there's a evolution of how money is created um in terms of store value and so on eventually to um Everyday Use so do you think what you've then seen sorry what you've then seen on coinbase and Brian Armstrong in the last three six months maybe he's been tweeting about payments and all of a sudden coinbase are now bringing payments in and starting to push heavily on that because now their anticipation is we've got to change our business model here because it's right these exchanges out there that are just purely surviving on price speculation will start to dwindle away as people stop speculating on random coins and Bitcoin obviously coming into the focus with ETF we however have not never focused on bitcoin price and investment side as such we have always focused how to focus on making use of Bitcoin as um something that you can send around the world or whatever you want to call it um whether it's payments and crossb payments Etc it's like we've always had a focus on that and that's what we focus on we know what we at 55 60% of our volume 50% let's say of our volume is um payments and some capacity so only 50% is people buying so we're already at the point of if 50% well okay you'd lose 50% of your customers if they all went to buy the ETF instead which they're technically not going to go and do um but we are already in that migration process we're already ahead of the game in that respect whereas coinbase and binance it'll be it'll be fractions of a percent that makes up of their payments I'm sure they will lose a lot of Revenue if the ETF starts take over the Bitcoin trading volume uh yeah do you think going back to EF slightly in coinbase custody in them do you think they'll eventually move to self custody these ETFs aren they is it just an easy way to get it approved and then eventually they'll So Co will even they're even going to lose the custody fees eventually yeah I think that's the plan for but a lot of these ETFs do charge quite a lot of annual fee in terms of volume fee so would it not the the PA pathway for me would be like you ETF might be an easy way for an institution to do it um and they custody it however the ETF want to custody it and then they a longer look in terms of timeline it becomes easier for a business to self custody and actually they they can knock off these annual volume fees you're arranging for like half% if one buys 100 million and it's like a 1% yearly fee plus the purchase you are talking a million dollars a year they could hire a team and deal with and just realize how easy it is to actually custody yourself so maybe that's the journey I think would would happen yeah it'll just take a bit of time to get mean these ETFs are already racing to the bottom anyway I mean one of them is free for first six months yeah so they're already like cuz surely no one can be not comfortable but having the coinbase is the sole custody of all of them is plus a massive Target on coinbase custody is it which is a bad thing so I know Fidelity are doing their own I think Gemini have got one yeah they do and coinbase I think pretty much are the rest and then there's someone unmentioned and unknown um but yeah I think that's completely in some ways correct in terms of ETFs will take a little bit of volume from exchanges um I think more so the exchanges that focus on institutional I just think I just think they like you said they're going to be doing the advertising for us they're just everywhere it'll just yeah yeah so thank you ETFs coil for your cool adverts and thank you that it's Bitcoin and it's not crypto cuz that that's the B it's going to help separate Bitcoin from crypto a little bit now um and it'll be all about Bitcoin which is good very good okay uh go jumped all over the place with this agenda do heaters let's do the heat segment you doing that at the end why you want to say that to the end if you do you should have done that gone through as we've been talking should uh SPF yeah he will not face a second trial don't care you should I just thought he's going to be in jail for ages isn't he no no they've dropped his stuff they've dropped another quietly over Christmas it was like boxing days I thought 40 years in jail I don't have to see his stupid head again no so there needs to be more kickoff about this why I flaged this one absolutely shocking um so they've you got the number of things they've just dropped again try to see what in basically it w matter they've got a massive run in there how many little charges he gets done for so long as he's in jail for 40 years so no I I can't remember it was something like another five of them have been they already got dropped didn't they back in was it November or something and then there's another chunk now so it was to do with the politicians and the donations he gave to politicians all that sort of stuff has been dropped yeah but you want a brush to come on must pick up the carpet get your brush get it under there yeah because that's messy yeah cuz they start we need our donations back to to repay the credit they should be doing and that's why they've they've dropped it because that means they're not they're not getting investigated so it's the politicians that have assumably let him off mhm yeah basic I mean five charges that was seven months ago though yeah that was the five and then there's just another one it was like boxing day I it was like other Christmas I must have missed that then it was Unreal I can't believe it it's shocking but he has been found yeah seven charges which he he'll get sent I don't know how many of them have now been dropped of that so that's I didn't oh right okay I didn't know if those could be dropped yeah sentences hasn't happened yet though no so let's wait for that before I kick off can't be angry about everything it's the C I think is it just the campaign the polit political campaign so these are the six charges that had been SED from his list which were Camp campaign Finance violations conspiracy to commit bribery and conspiracy to operate an unlicensed money transmitting business yeah some of them probably involve other people he could get messy couldn't it so if just it gets messy that's the point isn't it it should I was sort of thinking the second trial would be all about exposing everyone else who was first Tri got s then the second one would be like right now who else no I mean you got Blair and Clinton literally sat next to him at a comp Clinton's already in the firing line minute serious trouble yeah so okay hideous should have dug some more information on that sorry I didn't get that full breakdown of what it has has been I would hope the 70s already been because the jury voted him guilty of they haven't been taken I assume that would be a massive issue against the US justice system wouldn't it yeah you can't drop this' already been found guilty by a jury you can't assum additional charges which was supposed to be for a second try so he do have a second try which is probably the yeah which would have involved other people like say yeah well why it been dropped just because it involved politicians well we don't know do we wait until sentencing day mhm yes so this was 17 hours this was posted this for saying he won't fa there's another five he won't be charged with yeah okay so five more he's not being charged with so conspiracy Debbe foreign officials bank fraud operating unlicensed money transmitting business Securities fraud and commodities fraud so that's the five from last week that yeah that got dropped so why because mad isn't it because it will get messy that's ridiculous and they dropped the other dropped the other one back in July which was the finance violation campaign Finance violations so that's six total they've dropped I mean it's but this is you know it's crazy a lot of expense to take someone to trial there's a lot of involved with it oh that case that case just just let crack defend this there's no if they already know they got him for Life yeah it's already right he's in jail how much more extra additional legal Coster want to incurve for the state well what about all the other people that took them depending on they might not have obious have the evidence they might not have becomes mudslinging during an election campaign it'd be good of them to tell us tell us that sh exactly what they don't want share the information say it would just be a pointless yeah but then it becomes exercise who are the judges that naming people people might may have taken some money off him and bits and pieces no I'm not I'm saying people are trying to get elected because they they could at least say you know them political donations for example the politician did not know that was proceeds of a crime but getting handed to them at which point you are chasing your tail in terms of trying to prove something there so but even if you name that politician like mud stick we know the politi we already know the names we know all the I don't know the names of the people just Google it we know who he donated to it was all them I mean he donated to Biden it was Biden's like second biggest owner was here or something like 21 was it 21 million 20 odd million or something there's two there is saying the super packs but I think pretty pretty sure one was Biden and I was um he definitely did both parties didn't he covered all bases the Republicans and Democrats we've been through that cuz it was like his mom was it that was the yeah yeah she's a organizer one of them okay yeah don't want to spend onbi just ch it is bad though dropping charges for and not giving reasoning it's the reasoning why I don't understand if it's because it's going to just untangle lots of things do they normally when they drop charges is it just because you don't have enough evidence I mean what every time well I assume they got banged to rise and the charges are only against him anyway even in the next trial yeah so it depends on if the other ones like you know Clinton and like you know maybe not I guess their investors didn't even know that what SPF was doing no so maybe them guys Mr Wonderful would not know yeah exactly he he invest again yeah invest again yeah absolutely not case he can go on that psychopathol with krmer Kramer whatever you call him I don't know what you call him okay I can't pronounce things um right last one micro just a quick one micro strategy they acquired an additional 14,622 Bitcoin so mark this one I'm going to right rant today ar oh go no this is not rant this was interesting thought you going to have a problem with sail yeah he does me add does he no I like sailor um so he so what he's been doing I think it's like been the last three or four I think he's selling micro strategy shares and with the proceeds well he's not but the company is selling micro strategy shares and with the proceeds of that he's been buying Bitcoin so which in turn has been pushing the price up which he then then sells again MH and buys again he's like rinse repeat almost so he's got because the price of micro strategy has been going up obviously he's then able to continue to do that so he just announced this one is it today because the the price of micro strategy is heavily linked to the price of Bitcoin isn't it it's becoming that yeah um but is is it 200 million today he's just announced that he's going to do this was n hours ago yeah 26 mil it's funny when you see the oh that's sorry that's him selling it that's micro strategy selling it that's a slightly different one isn't it mhm but he's selling that to them buy Bitcoin yeah oh okay yeah for micro strategies previous buyers I think have been selling yeah shares to then buy more yeah so company is doing what sers do now essentially because they're like a 20 year old plus public company what viewing their share price over that period it's hilarious this it's like Spike when they went public down nosing yeah just look at that likey saw that yesterday yeah and it's now got a bit of a Spike as Bitcoin but it's not quite as big as the original one was it you might have to do five at Max oh look at that what how how long after IPO did it [ __ ] to that did pricing must have been rather cruising but then yeah it's do obviously and then they buy Bitcoin and it's spikes with the Bitcoin price in 2021 there all would been the almost alltime high in Bitcoin pre the November one wasn't it when it went to like 50 60k was it and then above that in November and you can see the little spike in November then can't you as well it dips and then starts growing back up and then bare market and then we're back into bu click on the five year one monke 42% the crazy thing as well is their market cap is just over 9 billion what they have do they have like five billion now 5.0 six billion in Bitcoin um so they market cap I guess the you're saying they're undervalued well I guess tech means gives him a pre Bitcoin market cap of like 4 billion three or four billion is it maybe that was fair I don't know have to look at the actual numbers of what they've been doing okay but yeah it was interesting that's uh sell the shares buy Bitcoin shares go up some more shares by shares go up thisno uh interesting strategy my strategy like it um right dve you want to talk about your miners your he is yes yes all miners sorry yeah yeah the homeless Venture coin corner is mining currently and there's actually mining heater in this room as we speak gasp shock no I don't IU can pick it up without no don't pick it I wouldn't pick it up we just Mike put a phot on it so we have miners now acting heers I'll get ni get later yeah just just well I mean we not many people do live foro in on the Pod I mean yeah but yeah a goodlooking thing so we have um about four haven't we what four five five so we've used a company called mining wholesale. probably just called wholesale but you can find them at um I've personally used this company before uh this is where I got my miners from uh my reconditioned S9 um so I reached out to them I'm guessing they sered a European market does they'll Ser the European market they'll serve me your opinion um so I reached out to them saying can you deliver to the other man because it was annoying me that they they they would just it wasn't on their list and they said they could and I said I want to use them as heers for coin corn so they said they'd send us something for us to trial so they did and I was quite surprised so they basically they offer um re like s9s that are slightly modified that you can have Thermo connectors on them Thermo controllers Wi-Fi enabled and a lovely little casing and they surprisingly quiet I thought they'd be loud it's really huge like you can have one running and have a podcast going that just shows you how quiet they are um I want to to see because we've got quite a big room open plan office at coin con I want to see and primarily we needed them for heating so we I needed a heating solution um the other alternative being like electric heaters in the office because there's no Central Heating in here um which so I needed a heater primarily and the thought being that instead of buying electric heaters we could buy mining key is um but we needed the heat Source first and foremost and which is what we've got so we're currently running 5 S9 at 80 wats at 55% fan speed and they are warming this room which is a nicely insulated room there's only one in this room there's only one in this room I've got my jumper off you got your jumper off it's nice tell you last time I'm my jumper off as off um upstairs which is a huge open open room with a big old is it 21 in it 21 degrees there is two up so yeah we if we use them to take the the like literally we heat the room with another device and then they have them running all day um so we just experiment with them at the moment and they seem to be working out I want to buy some more if I'm honest so there's good options at mining hell. um you can buy this bundle pre-made it's literally comes with a pack it's how would you say the setup is pretty easy you can control it on an app they have a PDF or what to do as well how long for ear Limited oh B to the it's usually me um so yeah some options on the website in terms of how much you can pay for one of these things um you can build your own buy pre-built solid got hit pretty nicely got it promptly um pretty affordable and for me if you were going to heat a room and you need a electric heater and you're a bitcoiner you need you should be using one of these should be adding hash rate essentially the room anyway yeah you should be contributing to the network the more hash but Bitcoin for me should be using more power it's the learning experience as well of like you know even everyone remembers who has like learning how to run your own node For the First Time same with like running your own Miner pointing it to the mining pool of your choice and then playing around with the fan speed and the power outage to find out the perfect kind of heater yeah and we've had so many people come up to us that we're going to do a workshop so people want them at home so we're going to just show people how easy they set up what's involved um and so people can buy their own here cuz quite a lot of people asked as well you're doing the project and like like Zach says we're just going to point at some some pools that we talk about on the Pod we're just going to experiment with different pools and bits and pieces um probably update people in terms of how much power we're using electricity bill and return in terms of how much Bitcoin we've actually mined I right and thinking we sniped mining because we missed one last night apparently the rumor was that the machine on our desk was off we might do we turn them off yeah but mward point we still get it's not the same as like we when I was snip man I was using brains um and their payout was basically dependent on how many blocks am mind at the time and your contribution at the time over this one it's more of flat rate with ocean that's who we're using at the moment which is the new uh newer one who's that by Again Luke Das that's it l so we just messed yeah so mess about with ocean at the moment and it's just cool it just gives a little you know we have poting the m to the the solo you get full reward if you mind the block imagine let's play the lottery we could be messing about with Sal well if if we're going to have to pay that anyway to heat the place then there is an option to go with that maybe you could have like a couple of them doing that them doing but people don't understand like there was another heater in here that ran 2,000 watts to heat this route and if you think you can literally mess around with the Watt and that one it's running 850 and it's flexible so the operating programs allow you to ramp it right down ramp it up dependent mess around with fan speed so you can actually optimize it slightly better than that heat we bought which could just automatically run at 2,000 this is keeping the room warm as well on a cold day here yeah M so I've been pretty impressed um go check them out mining wholesale. um is just an S9 effect yeah I used to use these personally so I can validate the the get your delivery guy called baz he's the boy yeah baz the boy check him out so that's what we're doing so we're going to experiment for a little bit on few weeks of run this see how it maintains the heat in different size rooms see then we can feedback to people then what what's wor what's not need put one yeah other room through there I think small room's great this room this is I say small it's quite a big boardroom size um obviously the them upstairs is a massive open plan so that's going to take we've got four running have we up there so that might take a little bit more we might need another couple to keep the room at con constant sort of temperature yeah um but that's what we're going to try over the next couple of weeks M see what the cold weather brings as well it is cool yeah good we need to figure out are you going to run as well how much it's costing us in electric versus what we get in SATs back for the mining yeah yeah but that's that's the thing like people would be like oh you're already generating 50 like each one probably 50p a day or less yeah that's 50 off your electric bill that you paying anyway that's the whole thing primarily I need he so it's like okay and it's a l heat less half the electricity cost this room that's the comparison CU people be like oh you're not it's a compromise on hash rate for heating we could just get one S21 which wouldn't heat a route yeah exactly thought we'd have yeah 10 times the hash rate so it's a comparison to the actual electric heaters yeah as well so people need think about that but like if you're riing on you know Bitcoin with faith in Bitcoin people can just run one of these at home it's like the startup setup it's just nothing the cost is minimal I think it's the technical but it's not it's should people are probably daunted but you just plug this thing in well maybe you need a YouTube video of how to quickly do that and set that up as well one of these if they can somehow incorporate a node in here as well that' be like the perfect thing to buy at home isn't it you complete Bitcoin package yeah you could just house a node on the side of it be pretty cool the main point for me is that's now cut our electricity bill for this particular room in half and we're getting some Bitcoin on top of that as well yeah mhm so I think that's more of the selling point as such for to have one um because we having that heater on anyway so it is it's a replacing youur at a cost of was it one well you can get like was it 180 180 build at your own you can add bits to this for like the shell and bits and pieces from wholesale m like mining wholesale but forget all the additionals just easy comp comparison call 80 so £50 £50 we paid £20 was it for for that for the previous heater that was in here so it slightly more expensive but over that time it's half the electricity cost which will pay itself back very quickly um and then it's mining Bitcoin we're getting Bitcoin as well so it does make sense a little bit even in the UK at electricity cost here mhm yeah cool worth it I'll see if it's wor great little project I'm glad they're finally here no they no I should be I meant that a nice way you've been Cs and I suppose yeah we had a great time saying them I think they're beautiful things as well like genuinely an S9 is a beautiful thing I mean minimal design isn't it really no if you no if you take them out of the shell and just look at the S9 the modified S9 with a power is that in our desk up there just one of them as a as almost a thing in itself what do you think to that it's it just denotes so much to me we did stand in there them for like minutes was that museum in Paris where all of the outside of it is the L no Jesus not the goog no begins with D um anywhere where all the outside of the museum all the air ducts or you can see them all uh does it begin with the H yeah I'm not no right no before Oh No cuz I an idiot French Museum uh vents architect yeah with vents outside of it's very famous I swear it gles God damn it people know oh okay that is it Pompa do Flipping yeah our famous One St D that yeah but in right you've seen this right no yeah no I do worry about you culturally yeah look at it so it's F hugely famous you walk past it it's like jawdropping clearly not hugely famous when none of us in here except you have heard you can't miss it in Paris but look so it's got that's reminds me of the S9 it's got every all the external vents are outside it they not where he's coming I where he's see them the S9 is the people's minor do you not think like the not Freedom what it is it's so affordable I get what you mean everyone should have one but if it was really that appeasing to the eye and that nice all of our buildings around the world would look more like that they don't I think it's cuz it's actually technically very difficult to do are they function scff than me he's just making that up he's making it looks unfinished I know but also it's probably harder and more expensive because that's not doesn't conform it looks industrial it's probably cheaper because you don't have to put all the the case in effectively I think that's beautiful I like it M it's not to everyone's taste but looks like a giant UK multi story car park majority it's probably not to their taste cuz otherwise we have more buildings like that the S9 reminds me of that building yeah the people's mind I like that yeah the it is the people's mind it's fundamentally a freedom fighting bit of Machinery that looks gorgeous the rock may have an issue with it you should leave them a nice review on the website under that that' be brilliant they know it mining wholesale. the boys we'll report back weekly on that bringing the facts about electricity bill how much I don't want to tell people how much our current rate is you have to say percentages that you've saved or percentages will be better because then they could then work out for themselves the equivalent yeah if they want to at the moment I just want ocean Manning to get some more blocks we should try different pools I think and just test out different ones and see yeah because it could be as well ocean I don't know in terms of um starting up so no distance away and stuff like that you might want to find one that's got uh lower ping rate not considered that really we were just looking at different ones yeah anyway something to play with cool cool that's it that's it for the agenda yep no 2024 here we come back with a bang big year pending yeah right thank you guys thank you yeah Cheerio [Music] peace [Music]