Pleb Miner Monthly EP 3 - Crypto cloaks Hashlight will satisfy you and some other bitcoin stuff

Bonjour. Good morning. How are you doing mate? Ahh, it's just sweet like my lad. Is that unfucked in French? Yeah, I'm sick. You sound sick. I'm down with the sickness. Witness the sickness.

It's been a long winter of death and darkness. Something like that, that's what I was told by my administration years ago. What a cheerful way to start the show. But here I am. I wish you fucking weren't.

Let's do this, Max. (upbeat music) Bitcoin is close to becoming worthless. (yells) - Let's go! (yells) - Now what's the Bitcoin? - Bitcoin's like rat poison. - Yeah. - The greatest scam in history.

- Let's get it. - Bitcoin will go to fucking zero. (laughing) - Hello, Ro. - Shout out battles for that. - Still makes me laugh. - Yeah, it's still great. It hits every time.

Best intro in the biz. - Welcome to another episode of pleb minor monthly, Max. - Welcome yourself. - It's nice to be speaking to you again, mate. - Mm, it is. It's been a long hiatus since we spoke.

- It has, both sick, both handsome. - That's obviously, look at our animation. - Unbelievable. - I never looked so good. - What'd you think of mine? - Probably pretty accurate. I've never seen your face before.

- I know, you lucky bastard. - Just in my dreams. - Is that how you dream of me? - Yeah. - Just sort of pale ghostly white with massive eyes that blink every 10 seconds. - Uh-huh, yep. - Crown nailed it.

- Have we noticed that we like touch hands? - I have noticed that there's a lot of hand holding, it's like a little daisy chain going on. That's what my missus said the first time. I said, "Can you watch it?

"Tell me what you think." Are you meant to be holding hands the whole way through? - It shows unity, it's to represent the black chain. - Nice to have that. I'm really excited to have that extra dimension to the show.

I think we can do some really cool things, especially with having the screen and all that kind of stuff. - Yeah. - So more work for Crown, but I hope people would enjoy it. - Well, as we talk a lot about on the show, we're all masochists and he's probably the worst of us all.

- Can confirm, he loves the pain. - And the plebs have been liking the pain as well. Painfully listening through me and you drivel on, sending sats and supporting the show. So thank you to all of you masochist fucks.

Would you like to read some fountain boosts, Max, from all these masochist fucks? - Yeah, I think so. I hope we got first, black coffee, 20,000 sats. Use these sats to buy coffee and never reuse coffee grounds again in all caps.

(laughs) Well, black coffee, I have actually gone and bought some proper coffee. Well, it's Aldi coffee, but it's like Aldi's posh version of coffee. And it's pretty good. I've got this new technique that I'm brewing it with thanks to Brother Rabbit, which is excellent.

So thank you very much, mate. ♪ Mr. Mr. 14,321 sats ♪ ♪ Take these broken wings ♪ ♪ Learn to fly again ♪ ♪ Learn to live so free ♪ Sorry, I couldn't help singing. I think you could do more with your life.

All right, I'll see you later. I'm not in a man's hole. (laughs) Ouch, more for Mr. Mister. All right, Mr. Mister, you got more. Next ones are designed by SF. My man, 10,000 sats. Hey guys, Node Runners FM sent me a carrier pigeon asking me to thank you guys for the shout out.

There are lots of rumors about this elusive pleb, Node Runners FM. All I know is that he or she, huh, is broadcasting all kinds of music from international waters. They say thanks for mentioning the radio station.

It should become more interactive over time. Until then, just tip and tag Node Runners FM with your requests and tracks will get played eventually. Love your show. Cheers from Node Runners FM et al.

Well, cheers back to you. - I love it will get played eventually. - Eventually, sometimes that cute builds up, man. - Yeah. - Yeah. I'm a little disappointed in you that you haven't joined Node Runners FM yet.

What do you expect from me? - Not much. - Exactly, that's exactly what you should expect. - Not much, Bon, 8,888 Sats. I got it a few days ago and then in hyphens, Bon is talking about the Foundation Devices Passport he won.

That's my note for you, that's not a read. (both laughing) I thought that was a weird way to write it. Bon is talking about the Foundation Devices Passport he won. And it's very fancy. - It's a personality.

- So he's just saying, I got it a few days ago and it's very fancy. What much free time these days? So I haven't set it up yet, but looking forward to it. So yeah, thanks again. I'll let you know how it goes with a boost in this episode three.

Liking the format of the show by the way, you guys are natural co-hosts. Well, thank you, Bon. - Oh, what a nice thing to say. If he only knew how much we hated each other. - I don't hate you, I just find you dull.

Is it better now, 'cause you said my mic is loud. Is it better now? - I did. Uh, yeah. Yeah, I'm quite close to it. I can be a bit further away. - All right. That was also supposed to be an internal note.

- No, you break in the third wall here. - Yeah, no, but I like to think that the plebminus who are listening there, they're part of the show and they can be involved. - Sorry, guys, for trying to hide things from you.

We've got our flaws and cracks and boards just like anybody else. It all comes out in the end. - Mm-hmm. - Next is from Burn Manor. It's 7,007 sets and he says, interestingly enough, Burn Manor!

So profound. Kaboom Rex Alex, 6969 sets. You see what he did there? - Dirty boy. - He says, "Buy miners from me." We concur. - And then he's put the same thing again. - He did. - 6969 sets.

Hashrate only goes up, you goofs. How can you be so bearish? - Chet, 10,021 sets. I've met a couple of homies at Compass since my experience in 2021. What the fuck are you still doing with Compass?

Laugh my fucking ass off. - That's directed towards you, bro. What am I supposed to do? Plug in here at 40p a fucking kilowatt hour. - There are hosting options out there and we'll talk about those later on in the show.

- Okay, all right. I'll sort my life out at some point. - Counting on it. Next is from Bubba, 5,150 sets. You two crazy fat fucks are all right. - Thank you, Bubba. Keep on trucking, honk, honk.

- Yeah, thanks, mate. - How's he know I'm fat? - Just a lucky guess. - Well, you're right, Bubba. - And now for statistics. (upbeat music) - Statistics. Statistics. - I'm gonna tell you the basics for hashing with basics.

Bitcoin mining statistics. (upbeat music) Statistics. Statistics. I'm gonna tell you the basics for hashing with basics. Bitcoin mining statistics. (upbeat music)

Statistics. Statistics brought to you by Linkoin Pool in their Linkoin lens. That's lens.linkoin.com. Global hash rate is 293 exahash with a network hash rate of 327 exahash. Linkoin Pool's hash rate is 663 petahash and it was 536.

So good job, plebs. Getting on Linkoin, cranking 'em up. Linkoin's now number 17 mining pool worldwide but number one in our hearts at plebmon or monthly. Over the past month, the highest one-day moving average hash rate was 347 exahash on February 15th.

Let's smooth out that graph a little bit and look at the seven-day moving average. The highest was 320 exahash and our 30-day is nearly 300, which is, of course, all-time high. 60-day moving average is 284 exahash.

So you can just see there's no matter how far away you zoom this graph out or how close you bring it in, hash rate is going up. - Do you think I'm gonna win off that? - I think, I think, I don't know.

Look at this runner. You almost got me there. I'm so weak-minded. Difficulty. Difficulty threshold just increased. I sat there and watched blocks come in last night so I can finally go to bed and write all this information out.

Threshold just increased from 39.16 to a whopping 43.05 trillion. That's a nearly 10% difficulty adjustment in positive direction as of just a few blocks ago and with this level of difficulty and price of Bitcoin, we are at the 10 cents a kilowatt hour break even mark for like a 29 joules per tera hash, 100 tera hash machine.

So like a JPro, 100 tera hash, it's now break even at 10 cents. Seems to be something about that damn 10 cent mark. - Why do you think that is? Why 10 cent? - That's the math of the price of Bitcoin and the price of power, the efficiency of that machine.

There's something about something cosmic about that 10 cents per kilowatt hour number. It just keeps coming up. What's happened to discussion with the boys last night and barn miner was saying like, is there sense to the paying more money for these new gen machines with this difficulty adjustment coming in

and now the previous gen machines are all break even at 10 cents. So it's hard to be profitable unless you have some kind of really good rate. Are we missing the boat by not spending extra money on new gen machines, the newest gen?

I don't know, remains to be seen. You and I are always talking about why do these large miners buy so many of these new gen machines when they're very expensive and they just don't seem profitable?

- It doesn't seem to make any sense. Do you know what I was thinking about it the other day? I was wondering if there is some sort of clever financing deals that are being offered to these big miners for new gen stuff.

- Yeah. - Sometimes here, for example, you work out better buying a new car on finance when they do some sort of special zero percent finance deal then you would be getting the same model a couple of years old and then financing that because the rates are so much higher, right?

Which is like a weird dynamic. It doesn't make sense in nature but obviously because they're fucking around with interest rates, it does make sense. And I wonder whether that could be playing into this a little bit where it's like, okay, there's some sort of deal being done and maybe we don't even know the rates

that they're being offered. - You know what I think, I think it's something more sinister is that a lot of these large miners aren't sure if they're going to even be there a year or two years from now.

They get all this funding. They get all this financing and they say, sure, just buy the best of the best. We're going to declare bankruptcy any year anyhow. (laughs) - Jokes on you, pal. We'll restructure.

We'll go on vacation. We'll come back into another board room and do this all over again. - It's the shit coin way. - Yeah, rinse repeat. - Yeah. - Here's a new part of statistics that we haven't looked at and we should be because it's becoming more relevant given recent developments in the Bitcoin world,

transaction fees as a percentage of block reward. So recently I looked at a few blocks in the related transaction fees. We're hearing from ordinal and inscription proponents, those folks, that miners ought to be pleased with the increase in fees as a result of, what did you say, monkeys in the mempool.

So I took a look at a few blocks. It seems to be quite irrelevant in my life right now as I am not a pool operator and can't make back door deals without a bound transactions. Take a look at blocks 777165.

That block got 0.015 Bitcoin in fees. So as a percentage of block reward, that was 0.24%. The next block was 0.035 Bitcoin, 0.56%. Next one was 0.128 Bitcoin, that was 2%. Next one's a little juicier, it's 0.233 Bitcoin at 3.59%.

And the next one goes down, 0.062 Bitcoin and 0.98%. So, and that was, I took a look at that period because it looked like on the graph that they had jumped up quite a bit. The transaction fees as a percentage of block reward, but it doesn't seem to be having much of an effect right now.

If you look at the total amount within Bitcoin, the transaction fees as a percentage of block reward has been higher a lot of different times, unlike difficulty and hash rate. That's not a chart that just goes steadily upward.

It's all over the place. You look at end of year 2017, people were playing exorbitant amounts to get their transactions done. - When you say that these mining pools are taking out of band payments, is it just certain mining pools that are doing this?

Because to my mind, if they're doing that, you can correct me on this. Like to my mind, if a mining pool is taking out band payments, then they're cheating anyone who's in their pool because really, those fees should be going into the pool and everyone should be benefiting from those fees.

So in my mind, that's theft. And then if they're doing that, shouldn't the people who are in that mining pool say, well, look, fuck you, I'm not having this. And they moved to another pool.

And then in that case, if you are benefiting from the fees, then you're not gonna be so worried about these monkeys in your men pool. No lies detected. I kind of have the same assessment and we're gonna touch on this throughout the show.

But you have a vote in pools. If you don't like what your pool's doing, they took an out of band payment and they told you, hey, we're an FPPS pool. You got paid the same, you would have paid.

You got paid based on your hash rate contribution. So what's it to you, pal? Don't worry about it. You got your few cents. If that's their attitude, feel free to leave. The one that did that, that was their justification is that you still got paid based on your hash rate contribution, based on your shares.

I find that a bit concierly agree. So moving on to hash price, Bitcoin is now in the, actually don't know what it is. I didn't even look it up because I am just not concerned with the price right now, but I think we're about in the low 20 threes.

So that makes higher hash price $6.70 a day per 100 terra hash machine, which is down from the previous difficulty epoch and it was $7.43 a day. So it's got a little bit tougher as of last night, but here's the important number.

You get 29,000, 109 sets per 100 terra hash machine per day. Per day, yeah, it's pretty good. That's a nice amount of sets. I think sometimes it's easy, especially when you're focusing on a subject as much as we do to kind of just take it for granted.

Like, okay, well, that's, you know, only a few dollars. When you take the long view and you think how many sets that is if you've got a few machines running and where we might be in, say, 20 years, these sort of numbers when you're talking about tens of thousands of SATs, which are probably gonna be the most valuable units

of currency, that's pretty fucking amazing. I think that's like maybe something we have to do more often to just take that step back and be like, right, why are we here? What do we think this is gonna be worth not just in value in terms of like financially, what's it worth?

But like, how valuable is it for your freedom for your family and your movement and everything else and just sort of think it doesn't matter today, take a step back? Yeah. I think 10, 20 years ahead is all still doing what it's supposed to be doing.

In Zoom out a little bit, it's like, no matter what the difficulty is going to be over the next year, we are still in this particular epoch of block subsidy. So enjoy that you get this many.

Well, that's it. Because in a little over a year, you're gonna get less. It gets a lot less very quickly. (laughing) You know it, by half, they say. But it's weird, isn't it? 'Cause you look at the numbers over the next 10 years, well, what is it?

We've got like 80 something percent of what you've been mined. I can't remember the number. Oh, I think it's more. I think it's more. It's a lot. And then so you suddenly start looking at it a lot.

It's like 19 something million. So it's like, fuck, like if you're ever gonna get these sats, you wanna be getting them now. And if you can kind of remove your brain from fiat land for a second and just think, well, how many sats can I get per day?

How much of this stuff can I get? That's probably a more valuable way of looking at it. Well, how much can I afford to get because you have to still pay for your electric? I think people are gonna look back in 10 years at what we had here and they'll be saying, why the fuck are you worrying?

Yeah. Keep calm and mine on. Wise words. Thank you. Machine profitability. This is the expected amount of sats per day and a couple of different machine prices. Popular machine profitability and cost to mine at various rates and break even can be extrapolated using the minor compare tool on Lincoyne lens.

We've got our Kaboom Racks S9. That's gonna get you 4,220 sats a day. It's exciting stuff. You can get a machine for 125 bucks from Alex at Kaboom Racks. Nice. And that's about a dollar's a day worth of Bitcoin.

If you wanna look at it right now and some people do and they want that information and there you go, you got it. But it's gonna cost you $3.25 a day to run. Take that into consideration.

If you're paying for your electric, if you don't have extra from solar or something like that and if you're using the heat, you can offset it. So yes, but for someone who's looking to get into it and learn and offset some of that cost for the heat, then you can be break even.

But what's an education worth do you? Because that's a big part of an S9. Yeah. It's just the education. How do I set it up? How do I point it to a pool? How much noise does it make? What can I do about that noise?

How much heat does it generate? How can I capture that heat? That's a lot of lessons learned right there. What to mine are M50, 118 tera hash. So this is us talking about a newer gen machine and I mentioned this one because I think this is a pretty decent deal.

Like now they're starting to creep down into a level where I would consider pulling the trigger on one of these things. The M50s, they are all over the place. All over the place with efficiency and amount of tera hash and they're very hard to nail down but I picked this particular model because it's $2,490 on Kaboom racks

and that's gonna get you 34,338 sets per day. Except you wouldn't buy it anyway because you're an S19 cook. No, no, I'm none of that. You know, I would definitely buy it. The S19s I have, they run well.

They're efficient machines. You don't own me bit main.

Speaking of bit main and binders, S19J bros, Alex has a whole bunch of them. They're the 100 tera hash ones. They're 1,776 bucks. That's when the United States declared its independence from your wretched kingdom, 1,776.

(laughing) This machine will bind you about 29,109 sets per day. You know you can get hosting when you buy a machine from Kaboom racks. - I did not know that. Can you tell me more? - I'll tell you a little bit about it.

I think their hosting rates are quite average. They're like high seven cents, like 7.9 cents a kilowatt hour. And you say to them, hey, I wanna buy five machines and can you figure out hosting for me?

I think they ask you for a deposit down, like maybe 500, 600 bucks down and send it to a facility where it's gonna cost you 7.9 cents a kilowatt hour. So it's something to reach out to Alex about, there's just no reason that you have to deal with somebody like Compass.

It has a bad reputation. Deal with somebody who has a good reputation like Alex. - Okay, that's pretty interesting. I didn't know you could do that. Is it a five machine minimum? - I do not know the minimum on that.

I just wanted to let everybody know that they do offer hosting. There is a hosting option with Kaboom racks. It's worth looking into, you know, before you start figuring all this stuff out, well, I can't mine at home and I can't do this.

I'm just gonna give up, reach out to a professional. That does this every day. Reach out to a salesman. It doesn't cost you anything to call Alex or DM him on Twitter or Telegram and just asking these questions.

I'm sure he'll break down the costs for you. You know, from beginning to end, discourage you if he thinks it's not a good deal for you. There's no pressure with that guy. - That's one thing I actually really respect about Alex.

Like if you come to him with an idea and it just doesn't add up, people are like, "No, don't do it astute." Like he's very comfortable with not making a sale, which I respect. - Yeah, that's when you know he got a good salesman.

There's no pressure there whatsoever. Hey, you wanna do it? These are the facts. Reach out to me. Your boy self-banked sent out a tweet the other day and I kinda wanna touch on it a little bit.

The question that he asked was, should I buy an M31S+ from previously mentioned, come piss, come piss, or should I just buy sats? Hey, you guys can work out this information on your own. Whether you wanna buy sats or whether you're gonna mine, I'm not gonna pressure you either way.

But I did wanna break down the M31S+ how much that costs to mine at home and what are your options with that? Because of course, compass wouldn't be where you wanted to go first. We would prefer that you look at kaboom racks or talk to Alex or talk to another person that sells gear all the time and different hosting options for you.

So what I did was sent out a small tweet that kind of breaks these things down in response to self-banked. All right, so here it is, you got an M31S+ that's an 82 terra hash per second machine.

His offer from the aforementioned company was to sell that machine to him for $595 plus another $695 in fees and get him set up with hosting at 7.8 cents a kilowatt hour and that was gonna cost him $193 a month.

So I just broke the $193 a month in the hash rate and it came to 7.8 cents a kilowatt hour. What if he wanted to host that machine in the UK? Hopefully. (laughing) That is his own facility.

- Free mortgage. - Free mortgage. I came up to 34 pence a kilowatt hour. I think that seems to be some sort of average. Am I right on that? - Yeah, so what's that about? 40 cents. - 41 cents a kilowatt hour.

(laughing) - Yeah, sounds about right. - How do you people do it? So this machine will cost 28 pounds a day or 33 bucks a day to operate. And if you need to understand how I broke that down, visit our Bite Size Bitcoin on our YouTube channel, cost to mine and I'll teach you how to do that.

Kids will teach you how to do that. At current hash price from Link Coin Pool, that machine will gain you 26,334 stats a day. That's probably a little bit less now since this less difficulty adjustment and what's that worth?

Max, 26,334 stats. - To know, a couple of quid. - Yeah, but let's take a look at an alternative and of course the alternative is buying from Alex. Alex does not have this listing anymore because I checked but he had an M31S plus at $8.90 a tera hash which was a really good value.

So that ends up being about $729 for that machine. And if you mention pleb minor, you get free cables. So that's pretty sweet. So say you bought that machine from Alex and then you went to a site called hashbranch.com.

Hashbranch.com, you can actually compare all kinds of different hosting sites. They have reviews on there, it's kind of like a Yelp or I don't know whatever review site in your locale but they'll take different miners and get reviews from people and tell you what the uptime of that facility is

and what kind of electricity they have at that facility, what their hosting rates are. But I already found him just by a quick search on hashbranch.com, 7.25 cents a kilowatt hour, seven cents a kilowatt hour, 7.5 cents a kilowatt hour where he could send that machine.

So just to give you, there are options. I don't know how Compass got in everybody's damn brain over the past couple years but there are lots of places to go do lots of good, honest, hardworking people out there to reach out to if you want to buy a machine, if you want to host it somewhere else,

you don't have to be pigeonholed into Compass. And of course, don't forget opening up in a location near you hash sluts strip club. All right, you can buy in right now to a franchise. - And we're not doing a shit coin token.

- It's all sats. - All sats, all sluts. - All the time, hosting fees will be terrible but the drinks and women will be cheap. - Ah, can't wait. - Me too. That's it for statistics but I want to wrap up with our normal link coin plug.

Statistics are brought to you by link coin pool. As a miner, you have a lot of choices when it comes to what pool you choose or I like this particular payout scheme or they monitor, they have different tools, the UX is really cool on their app, their website's really good, the ease of use and so on.

Max, you and I chose to partner with Medi and link coin pool. I think mostly because we liked him. - Pretty much. I just liked that he was straight down the line. It's rare to find, there's a lot of fluff and bullshit in this space.

So if I find someone who just says how it is, it's, yeah, it appreciates it. - Yeah, so we looked Medi in the eye and we said, I like the cut of your jibs son. We're gonna part them with you.

(laughs) But you know, you go on their telegram group and he's always on there. And it's like a family kind of atmosphere. There's a joking back and forth. Any question that comes up, he answers it.

They're always working on new things, new tools, new ways to interface with your miners, new ways to monitor them. So I just wanted to give a personal attestation that we like link coin pool.

The first attraction was the pain and payout. That's how we got to meet Medi. Diverter had said something about pain and payout. We reached out to him. Do you want to do an interview, a relationship just built from there?

It's a good team over there. They're good folks. Give them a shot, reach out to them. - Actually, we have a question for Medi, which we can do as like a shout out. Medi, can we do Painim logins?

I was mentioning this in the last episode that I did with Bitcoin Q&A and he was asking about this, whether it's possible to use your Painim as like a login. So I don't know how that works or if it can be done or if you already have it implemented, but be good to find out and then we'll put it on the next show.

- I do know a little bit about this that he has been asked. I think X21 got on their Telegram. - It really is, X21 fucking everywhere, isn't it? - Right, X21 got right on that. And I believe Medi has been made aware but we will get an official statement from him on the next Pledminor monthly episode.

- But if you can't get ahold of Medi, we can always get ahold of Linkwind Pool's Telegram bot, body McBot face. - Hey, you're a governmental misfits. Do I get to tell my joke now? - Yeah, I guess so.

- All right, yeah, yeah, you get to tell your joke now, body. Body's actually with us in here in studio. People don't realize we've got a mystery location we record at every single month.

Max and I get together somewhere across this beautiful globe of ours. Body joins us, so if you can guess what mystery location we are in right now, best guess. I'll send you some Pledminor stickers and we'll read it on the next episode.

You can tell your joke now, body. - What do you call a hot dog on wheels? - Max, that's what do you call a hot dog on wheels? - I don't care. - Fast food. - Fast food. - Thanks, body. Next up on Pledminor monthly is Bite Size Bitcoin.

This is a Bite Size Bitcoin on Bitcoin block creation. Bite Size Bitcoin is sponsored by FixRigs. Hash rate is going up, the hash value is going up and the how thinning is coming up in a year.

- No, I just want to have your machines ready to go when the price bumps and you're transitioning from low power mode to ludicrous speed. Be sure to keep your machines in tip top, ready to deploy shape by sending them to FixRigs.

FixRigs is a premium repair facility located in Miami, Florida. They are staffed with highly trained technicians who are ready to diagnose, repair and clean your machine and get it sent back ASAP.

So you can get back to hashing. FixRigs not only has highly qualified technicians, a state-of-the-art facility, but they are masters of logistics. They have you covered on all aspects of the repair process.

And I think that's an important part of the repair process is shipping to and fro. It's like a lot of companies that you deal with and it doesn't matter the industry, when they get your thing or they sell you the thing, sure, they're really great on support, but when it comes to logistics they just write it all off.

Like, oh, you don't have to call your shipping company, DHL or FedEx or UES. That's not really our problem. FixRigs is doing things differently because they have like an in-house logistics expert.

And that's gonna save you a lot of money. The repair process, I'm sure, is expensive enough. And then you're tacking on shipping fees for these really heavy objects back and forth. - And stress, you're dealing with fucking idiots who are gonna either damage your machine or lose your machine and yeah, it's a pain in the ass shipping.

- Yeah, I think a lot of places just like, well, oh, it didn't make it to our door. It didn't make it to your door. That's not our problem. You're gonna have to call somebody else. - It just made me think we had a shipping thing for ungovernable misfits the other day, sending some bits out to Ben Gunn.

He said, oh yeah, I didn't receive my stuff. And I was like, oh, we'll check on the shipping just like see what they've said 'cause we've got it as delivered. So anyway, the postage service just had a photo of the inside of their van and that was their proof.

That literally inside of their van, that was the proof of it being delivered. We fought it and we were like, look, you haven't fucking delivered it. That's a picture of your inside of your van.

No, delivery's been done. Tough shit. (laughing) We lost that order. So that's just from the last couple of weeks, just an example of a shipping nightmare. But why don't you call fix rigs to help you figure it out?

I will do. Fix shirts. Enjoy this episode of Bite Size Bitcoin. - To begin with, what is Bitcoin? - One bit, 47. - A lot of people are familiar with lightning and liquid is effectively layer two.

- But one, two, nine. - What is taproot? - Florin taproot, that's the first new protocol upgrade since Zagwet. - Difficulty adjustments. - How do mnemonic seed words work? - UTXO management.

(upbeat music)

We know that our miners, pool-oriented or not, are competing for a chance at finding a valid block. But they don't do it all willy-nilly, mind you. There are certain criteria that the block must have to be considered valid.

A Bitcoin block template is used as a data structure to help construct a candidate block. A sort of fill in the blank for the construction of the next block. The miner requests a block template from the network.

This request includes information about the miner's current knowledge of the blockchain and any other criteria they want to specify, such as the maximum size of the block they're willing to mine.

Miners use the get block template GBT command to retrieve a block template from a full node, which they then modify. Notice to all pool miners, what does your pool's block template or block candidates look like?

That's something you might wanna look into. The network responds with a block template, which contains a list of transactions that the miner can choose from to include in the block. It's up to the miner to fill in the blanks here, but the data in the fields must adhere to the network protocols.

It isn't like a mad libs or something. Blocks can be created with invalid fields. And if found, the block will be rejected by the network. A 100 terra hash machine has something like a one in three million or so chance at finding a block.

So you just wasted that chance by mining an invalid block. From the block template, a miner creates a candidate block. The candidate block header fields are version number, previous block hash, the Merkle root of proposed transactions, timestamp, target for proof of work and a nonce.

So there we have a Bitcoin block creation. And the reason that I chose that bite-sized Bitcoin is the talk about out of bound transaction. That kind of sent my head in a direction like, well, how does one do an out of bounds transaction?

And of course, once again, talking about link coin pool, I was able to reach out to Medi and get a back and forth with him so I can get a better understanding of these kind of things. And he said, essentially what they do is that's what their block candidate looks like.

It is a block with that particular transaction built into it. That's why I mentioned in that particular bite-sized Bitcoin, like we'll find out what your pool is doing. If they're sending out candidate blocks without a bounds transactions or they're sending out candidate blocks, you basically kind of want to know, hey, pool,

what are you mining? Are you mining from transactions that are sitting in the mempool? Like we would expect you to do with a peer-to-peer cashless transaction system that is the purpose of this, by the way.

Or are you doing these backdoor deals where you're creating your own candidate blocks that don't really jive up with what we are trying to do here? Within the system, it doesn't make sense to put that block together that way.

You'd be better off going for whatever creates the most value, whatever creates the most fees. So it's going outside of the system, which is like a perfect system, and then going into fiat land and doing some comfy little deal on the side.

So I just don't think it should be, I mean, obviously they can do it, but if you have a system that's anti-fragile, that system should be able to fight back and it can, and that's where people have to, like you say, ask their pool or not even ask them.

You can find out pretty easily by looking at the transaction does this make sense? And if it doesn't, and it looks like out of band, then fuck them and leave. Eventually they'll be left with no more people to mind with them and they have to stop being pricks.

That's kind of how it works. We do have a choice that voting still exists, and I'm not even talking about the particular part of the block header where you could do, choose what version number so you can vote on different protocols, but you get to vote with your feet, essentially, and move to a different pool

if you don't like what they're doing. In that bite-sized Bitcoin, we break down the different parts of the candidate block. Like I said, you have your version number, your previous blocks hash, Merkel root of proposed transactions, and that's the part right there we need to look at.

The Merkel root of proposed transactions. So what you do is if you have some out of bound transaction, what you've done is broken that transaction all the way down to its Merkel root, and you've put that as your block candidate.

Instead of you taking the transactions with the most fees in the men pool and breaking those down to their Merkel root, you're doing it somewhere else. So if a pool was to lie and say they're not taking these out of bound payments, it would still be easy enough to work it out 'cause you'd be like, well, you're not acting rationally

because you're not taking the best fee rates, you're putting something else in there with a lower fee. So yeah, you know the transaction, sure. So there's nowhere for them to hide. They either have to lie and say, oh, well, we're just completely incompetent and not acting rationally, or they have to tell the truth and say,

yeah, okay, we're taking out of bound payments. And then do we know how many pools are doing this? Is this kind of like a widespread thing or is it just like a few who are doing this? Over the past couple weeks, I've only really focused on one pool that did the original Ordinal Wizards transaction thing because they advertised it

and they were super excited about it and that is Luxor. I haven't really looked into who else has done any of these out of bound transactions. Luxor one was enough for me to focus on. So yeah, so we just have to push back.

Everyone has to just say, no, we're not accepting this because from all the Ordinals and inscriptions and all the conversations that I've had with people, basically boils down to, well, if people are paying fees and minors are getting that reward, then it is what it is and just fucking accept the fees.

But if you're not getting the fees, then it's like, oh, that's fucking terrible. And if the, I don't know, I really didn't want to talk too much about Ordinals on the show because I think it's a fad that is hopefully kind of just passed.

The peak of it has passed and we're just going to have to live with it forever now. But yeah, the out of bands part of it is to me the most offensive. - Yeah, definitely. - If you're skipping over legitimate transactions, people might be waiting on something important.

Maybe they aren't just buying t-shirts on ungovernable misfits. Maybe they're in Africa. - That's important. (laughs) - Maybe they're in Africa and your piece of shit government has completely debased your currency and you have to buy food with these sets.

You know, it was in Nigeria, there was a premium on Bitcoin. I think it was selling for something like $40,000 a Bitcoin. They couldn't get it there. You know, somebody's waiting on an important transaction and here's this monkey in a memo or the next walk has been mined by some out of bound transaction because they thought it was cute

because they wanted a good tweet. - Any out of bound transaction, whether it's a fucking monkey or not, is just not acceptable. If you're having that relationship with a mining pool, you've agreed to get a percentage of fees and that's the agreement for them to then go outside of that is just not acceptable.

- Agree. If you want more information on Bitcoin block creation, tune into that episode of Bite Size Bitcoin, which should be the episode that aired right before this, let me know monthly episode three.

Max, we have part two of Fountain Boosts to read. First one is once again from Mr. Mr. and guess what? He wants more. Two exclamation points this time from Mr. Mr. Next is the user, a bunch of numbers, 4,200 sets.

Still my favorite overseas podcast. Thanks for the shout out greetings from Brinky. Love these node runners. - We've got C separating all of the plebs. I can't come and visit you. You can't come and visit me.

- Heartbreaking. - It is heartbreaking. But what's not heartbreaking is Chet sending 21,021 sets. Day three is the best day of a fast. Day two is rough. There's nothing like having that clean mind and body.

The feeding after a fast. Great episode. I love to see where the relationship has gone with Gaboom Rack's Alex. Kanan Avalon Mine Bitcoin 2. I don't think that's true, is it? - It is true.

- There's only two. There's only two options. Lol, great show guys. Bitcoin is all about the community in every single aspect. Love us or hate us, plebs are here to stay. - Mm-hmm. I love Chet.

What's my buddy? My daughter recently made a video for him that he'd posted up on his Twitter of the mind that he's building, the water-cooled mind that he's building in Kentucky. - Yeah, so that's awesome.

- Yeah. - Yeah, Chet has really, like think about Chet's life. You know, he goes down to Central America somewhere. I forget. Logos, the Bitcoin lake, and he does that, taking the cooking oil from the residents there and mining with that.

And then he goes up to Carl in Michigan and sets of miners up there, helps him on his farm, gets value for value, and then he goes to Kentucky and builds this hydro mine. I don't know, sometimes I think Chet's got the coolest life.

- Yeah, it looks fucking awesome. He paid some sats for this video. The video is very, very high quality. - He did? Oh yeah. Uncle Chet is always sending sats to my daughter for little stuff.

I was like, "Chet, you know, you don't gotta send her any sats for this guy." Oh, she did something, it's value for value. She's gonna get some sats. She spent time doing it. - Love it, yeah.

He's such a good dude. - She's stocking those sats. - Oh yeah. Oh, they just sit there. She thinks it's cool. Norman Remnant, 1069 sats. Man have yelled, "Bye, man!" A few times listening to this.

When Bitcoin meet up at Hashluts, something to a location near you, soon to you. Beggie Johnson, 1,000 sats, great show. Spiral Crunch, 888 sats. Thank you, needed my fix. There you go, buddy.

Apemith Randir, 7,777 sats. Really enjoying these. Thank you, brother. - Always 7,777, didn't we just have that as a block? All the sevens. - We did, yeah. That was the Apemith Randir block.

(laughs) - All right. At Butter Bitcoin, 513 sats. Hearing all the plebs boosting this pod, I know I'm in the right place. Chet, again. Laugh my fucking arse off, Max. You're a knucklehead.

Dick Greaser got you. I have no idea what he's talking about there. That's F dub 7, 101 sats. Going to add one sat to each boost, just for John. - Oh, he better send me that one sat. Kaboom Rax Alex, again with 69, 69 sats.

You think he's lonely? - Yes. (laughs) - He's thinking about this one thing. If you buy an S19, you get free cables and a friend. (laughs) - We can watch videos together. TFTC listeners are poor, Alex says.

And the reason that he said that is because on the Fountain app, the last pleb minor monthly episode blew everyone else off the charts because of the boosts from you plebs. So we appreciate that.

And it's cool to see pleb minor monthly on the top 10 of Fountain app boosts. I really do get a kick out of that. Well, I'm glad. And now, pleb minor monthly action news. (upbeat music)

- And John Deere. And now, pleb minor monthly action news. (upbeat music) - Mhm, pleb minor monthly action news is brought to you by Kaboom Rax. Get your gear from Kaboom Rax Alex. Kaboom Rax Alex is on Twitter, Telegram.

I think you can call him by landlinephone. If you so wish, if you want to hear his beautiful voice, but if you're looking for gear, Alex is your man. And we saw an example of that earlier in the episode where he had an M31 S plus for a really good deal.

You got to stay on top of this gear prices change all the time. You're going to need somebody to help you navigate those gear prices, Kaboom Rax Alex is your guy. First on the docket from Niko Smid.

Niko Smid's Bitcoin mining blog post. And this one is dated February 14th. He said the price of Bitcoin dropped after news broke that the SEC was targeting crypto staking, ew, gross, in a $30 million settlement with Kraken exchange.

I could change the way we do news. If I see any kind of shit coinery type things or things that I don't want to say like crypto staking or Kraken exchange, I'm crossing off the list. Can't we just have like a vomit button or something on the set board?

All right, I'm going to add that next time. Settlement with exchange. You know what we meant. That's all the same with block size and transaction fees. He also writes over the last few weeks.

Ordinals have been dominating Bitcoin Twitter. Oh, God, we have they ever. While some argue that putting JPEGs on the Bitcoin blockchain is a waste of block space, many miners are eyeing the fees that are being paid for those transactions.

This transitions us into an article on another sub stack. And this is from once again, Medi Nissari. We've talked about him a lot this episode. My link point founder, Medi Nissari. Medi Nissari jotted down his thoughts on the sub stack.

And it is called ordinals out of bounds transactions and pools. I assume we're going to have a nice little link to that in the show notes. Yes, we have a nice little link to that in the show notes.

And I will read certain sections from it. He says, after many years, finally, there's a structured method to use Bitcoin block space for data other than transactions. It is important to look into it from a miner's point of view and what it will mean to them.

He skips explaining the basics of ordinals. Thank God. And he asks the question, do ordinals benefit miners by increasing transaction fees? And he says, yes, ordinals create a base demand for block space and heat the competition up for transaction fees.

In the long run, that will benefit miners and will result in higher average transaction fees. In the past few months, there have not been much of a demand for the Bitcoin block space, which caused partially empty blocks to become more frequent.

The current ordinals hype has addressed that matter and has also slightly pushed up average transaction fees from under 2% to about 2.5% of block reward. Also, the block size and average number of transactions in each block have gone up, which does not translate to more income for Bitcoin miners, unfortunately.

How could this benefit miners in the future though? And he breaks it down to what pools would benefit from ordinals and he thinks not much. There's speculation about ordinals becoming new sources of revenue for pools.

This is how it might happen. Number one, processing out of bounds transactions. Out of bounds transactions are a type of transactions that are inserted into blocks by skipping the mempool or get on a block while paying lower than expected fees.

The pool should be incentivized to compromise on their income potential from transaction fees to dedicate that block space to an out-of-bounds transactions. In other words, there should be an off-chain transaction to convince pool operators to do so.

This event can be reviewed from free perspective, from pool operators, miners, or owners of the transaction. The pool operators could benefit from this as a new source of revenue, which could be hidden from the miners.

And we saw that before. The pools may also choose to share that income with the miners, but there would be no way for the miners to verify that. The miners will be hurt by that regardless of the pool's payment method.

If PPL and S, that would mean lower transaction fees for miners, for FPPS, that means lower average transaction fees on that specific day. The effect of that in FPPS is less compared to it.

PPL and S miners would lose their trust in pool operators and get the feeling of being betrayed by the trustee of their hash rate, the pool operator. - Too far you're right. - Yeah, by committing an out of bounds transactions, the transaction owner accept the risk of delay in their transaction confirmation.

If out of bounds transactions become a commonly accepted way of transacting on the Bitcoin blockchain, we could expect secondary block space markets to emerge, which I personally doubt that will be a big market share for the mempool.

As a user, I want my transactions to be confirmed ASAP, no shit. I will set the right fees on my transactions and compete with others through the mempool, transparently and competitively.

Any transaction type other than the four groups mentioned above wouldn't make sense to be processed through an out of bounds method. Why? Because it doesn't make sense for the pool operator and doesn't make sense for transaction owners.

So a second way pools can benefit from the original pool mining rare ordinals or sell them at higher prices. That sounds like shit coinery to me. And then three, pools inscribing on their rare ordinals.

Many described as this, the pool not only may take the rare ordinal out of the earned block reward, but also they may inscribe a rare inscription on that to make it more unique and potentially more valuable.

The question is should miners also receive a share of that inscription? And if yes, how much? I love this conclusion here. Ordinals loved by many and hated by others if we want them or hate them have found their way in Bitcoin blocks.

And guess what? It is the code that rules not our desires. What a wise man. Ordinals have brought new utility and more competition for the Bitcoin block space that will benefit miners down the road, second and third layers, such as lightning network, but also benefit from higher fees and competition on main layer.

The pools, though, wouldn't significantly benefit from ordinals. Pools are technically miners. They get paid a portion of the miner's earnings. It has historically been proven that miners will mine with a pool that shares everything and the all with their miners. And they just simply vote with their hash rate.

The rarity of ordinals is something that could benefit pool miners. There might be a market for rare ordinals, such as the first ordinal of a newly mined block. We should wait and see. But what is obvious is pools can't run away with that.

Miners are seekers of transparency and trust and, of course, more earnings. If one pool doesn't offer that, they will find it somewhere else. I think that was a very rational breakdown of this situation.

And once again, that's why we like linkcoin. And that's why we like Medi. You ask him something. I'll just tell you straight out. So I can assume that he will not be doing out of bounds payments and fucking over the people in his pool.

I would assume that from Medi. Yeah. Yeah. We'll abuse him otherwise next month. We'll go about fucking Medi, that weasel taking out on payments. That's what you can expect from Play of Mana Monthly.

We've got a Bitcoin base load update. [MUSIC PLAYING] You folks don't know nothing about Bitcoin and energy. [MUSIC PLAYING] What if I close it too? So much. Oh, man. Oh, man. [MUSIC PLAYING] Like you said, too.

[MUSIC PLAYING] Oh, man. [MUSIC PLAYING] Like you said, too. [MUSIC PLAYING] Yeah. Bitcoin base load, energy market update. I made that, you know. Very nice. The Bitcoin base load. I'm just going to read exactly what he wrote to me.

It used to be when natural gas was coming online to generate electricity in most of the places in the US. Natural gas prices were correlated to electricity prices. This is so in his voice, too.

Simple economics could define this as when more supply of natural gas is needed to generate electricity. The demand is there. Over the past 14 months, we have seen an extremely volatile period in the New York Mercantile Exchange price for natural gas to the tune that you can almost rewind the track, every, every--

And start again with a few scratches of the turntable and bring the track back in. Stay with me now. Natural gas prices plummeted to lows almost similar to March 2016, but electricity prices haven't followed.

Why? Folks are adding some risk premium due to the new variable generation mix, aka, solar, wind, batteries. You would think the natural gas prices fall. Electricity pricing falls. It simply does not.

And it's because of the generation fuel mix type. New markets, new ways of transacting with hedges performed in uncertainty, no man's land. Electricity needs to respond to demand and then to be dispatched to meet the demands quickly.

Inventional generation is a rare commodity now. Make wise decisions. And what I get from that, and I think, in the last of Bitcoin-based load energy market update, was we used to think if something like natural gas went down, if something like coal went down, that electricity prices would follow.

And now that the electricity generation fleet is moving towards more renewables, you just can't predict the markets like you used to. Like, now would be a good time to lock in, if you can, lock in your natural gas rates.

But it doesn't necessarily translate to electricity. Clown weld. I guess so. I don't know what else to say about it either. It's like, how the hell are large miners supposed to look a year or two out, unless they generate their own electricity?

But if you're on grid, yeah. You can't have any sort of forecast on anything. It's just, stuff will happen at some point. Stuff will happen at some point. All right, let me take that to the board.

Oh, we have a news update from the Bitcoin bugle. Our last update from the Bitcoin bugle went pretty well. That was some interesting stuff. This is by, oh, this is a, this is guest written by guest writer Max Schafft.

And apparently, Rick Cryptoclox is launching a new sex toy line called the hashlight, introducing the latest addition to the world of cryptocurrency mining, the hashlight. This exciting new product is sure to bring you pleasure and satisfaction like never before.

Modeled after existing crypto cloaks products, it is designed to enhance your cryptocurrency mining experience from the front. Created by Rick, a visionary in the world of Bitcoin, the hashlight is a round intake for the Bitcoin ASIC mining machine, similar to other products built by crypto cloaks.

The hashlight is designed to bring joy and excitement to your hashing operation, making it more enjoyable and efficient. According to Rick, the inspiration for the hashlight came from his desire to make Bitcoin mining more enjoyable.

Rick says, mining can be a lonely and tedious process, but it doesn't have to be that way. With the hashlight, you can add a little excitement to your mining operation and make it more enjoyable.

Rick is a firm believer that the hashlight will become an essential tool for cryptocurrency miners. The hashlight is not just a gimmick. It's a serious tool for serious miners. It is designed to help you get the most out of your mining operation by increasing efficiency and helping to alleviate the stress from long hours

in the Bitcoin mine. The hashlight is easy to use and is compatible with most Bitcoin mining ASIC machines. Simply attach the hashlight to the intake of your machine and you're ready to go.

Hashlight is designed to improve airflow, which in turn increases the pleasure of your mining operation. Many early adopters of the hashlight have reported a significant increase in the joy and satisfaction they're getting from mining.

One guy says, I've been mining for years and the hashlight has completely changed the game for me. It's made my overall terra hash rise. I couldn't be happier with the product. This is awesome.

Another customer said the hashlight has been a game changer for me. It's made mining so much more fun and exciting. I'm actually looking forward to my mining. Despite its playful name, Rick is keen to emphasize that the hashlight is a serious product for serious miners.

We're not trying to be crude or offensive, Rick says. We're simply trying to add a little more satisfaction to the world of Bitcoin mining. But make no mistake, the hashlight is a serious tool that will help you get the most out of your rig.

Hashlight is an innovative product that has the potential to revolutionize the world of Bitcoin mining. Whether you're a seasoned miner or newcomer, the hashlight is a tool that will enhance your mining experience and make it more enjoyable.

So why not give it a try? We're confident that you've experienced the joy and satisfaction of the hashlight. You'll never want to mine without it again. Rick is really doing some incredible things over there.

Just a few questions. Any maintenance needed? I would imagine you'd have to clean it out. OK. Presumably you're not running this with fans or using immersion or some sort of lubricant. But what it looks like to me, I mean, you would have to see somebody give it a live demonstration.

But I think because it's Rick's mining pants, which are meant to be a fan shroud. So it's fan shroud on one side and we give a description to everybody. And on the other side is a receptacle to receive your offering.

That's in, that's out. I don't know if I'll be trying this myself because I'm not hosting here. But any one of you has a lot to have some feedback. And it's good to see them pushing things forward.

I'm going to just throw this out here right now. When the first Hashluts strip club franchise opens, we're going to have a few of these that one could demo. If we're hosting your machine and this apparatus is on the machine, you are free to visit the club.

At any time, no charge. We've got an all-you-can-eat beef jerky buffet, minor dried beef jerky. Come to the free buffet, visit your machine, visit the girls, you know, stop by and say hi.

But we will definitely be featuring some of these at Hashluts strip club. Amazing. We're pushing the world forward in such a positive way. I couldn't agree more when that's been "Pleb Minor Monthly," action news.

[MUSIC PLAYING] Next segment is "Pleb Minor and the Wild." This episode of "Pleb Minor and the Wild" is Dirty Shakya. "Pleb Minor and the Wild" is sponsored by Peach Bitcoin. Peach Bitcoin launches Open Beta March 6.

You've heard all the hype. So soon, you'll be eligible to try out Peach Bitcoin yourself on March 6. They go into Open Beta. So no more waiting lists on March 6. You can just sign up for Peach Bitcoin.

They are still in beta. But Peach Bitcoin is super easy to use. There's not a lot of hiccups there. I don't know anything about software development, but it sure looks to me that that thing is a finished product.

It's absolutely gorgeous. It functions perfectly. It is so quick. It is so easy to use. But you'll get to experience that yourself on March 6. Have we got any sort of shill code or anything like that?

We will have to reach out to them. I do believe our shill code is "Pleb Minor." So be ready to enter in "Pleb Minor" if you get a shill code field to fill out when you try to build a shill code field.

The pitch Bitcoin-- pitch Bitcoin-- oh, boy, Max. What is wrong with me? Do you want the list alphabetically? Yes. All right, we'll do it in another section. I've got time today. If you need to fill out the shill field, please fill it out with "Pleb Minor."

Thank you. And now, our "Pleb Minor" in the wild. Dirty shakya. Today, we have the privilege of observing the elusive and often misunderstood "Pleb Minor." If you listen closely, you will hear the unmistakable sound of its mating call.

To others, the sound is offensive. But to the "Pleb," it's a rousing beyond measure. These creatures survive by scouring the Earth for energy and scavenging hashrate from others whose over exuberance costs them dearly.

The "Pleb Minor" may not be at the top of the food chain, but make no mistake. Its ingenuity, scrappy nature, and unquenchable first for sounds make it a force to be reckoned with. All right, this episode of "Pleb Minor" in the wild is dirty shakya.

Dirty can neither be confined nor contained. He's a "Pleb Minor" in the wild in the truest sense, where he not only lives in the wild, but is wild by definition. A sovereign who lives by one simple motto.

Go fuck yourself. What's up, brother? Congratulations, you joined the show. You are now on the show. You're talking live, right? Live from the wild. It's definitely wild, I'll tell you that.

So, brother, we're going to get right into it. Starting with your technical background, that's what matters to fucking miners. Most miners are like a jack of all trades and a master of some.

What inspired you to start tinkering with stuff and learning how to do things or work with your hands and be technical? I mean, I watch a lot of my giver as a kid. I love that show, you know?

It's great. And I've always been messing with stuff. I mean, it's like, it's my thing. I like to sit around and mess around with electronics and stuff, but I am a jack. I've done everything.

You know, I work masonry, build schools, skyscrapers. So I've done everything. One of my side hustles was fixing and selling cars and shit. So. Where did you get into mining? So that you go from being a mason to fixing and selling cars and all of a sudden you want to get into Bitcoin mining?

Well, to be honest, I mean, it was like, what, 2016? I mean, I've heard about it in 2013. I said, yeah, whatever, 2016, I looked into it a little bit and I said, well, I found the S9s. They were like 2,500 bucks.

I said, well, I'll try it. So I bought four of them, I plugged them in and they made like a hundred a day. And right then I was like, well, fuck, you know, fuck a hundred a day. It's killing it.

Yeah. So I immediately bought 40 of them and right. From one to 40. Right. And then it just, it kind of spiraled from there. You know, at first it's all a fiat game. You just care about getting some money.

But then later on you're like, you know, you know, they're like, they and them don't know that secretly I'm fucking up the establishment. So you just keep running your machines and just keep plugging along, you know, trying to buy shit with Bitcoin and spread the word.

Yeah, it's like you get off on it in a lot of different ways. You're like, oh, well, first I'll make money. Well, that's good. Oh, well, I can kind of fuck the system and fight the man at the same time.

Yeah. I'll take that. You know, you and I have had some like personal conversations where things kind of went sideways back home with mining and then you had to ski daddle, not to say. What they did was, right?

I was running 40s, nine, 10L, three plus in my parents' basement. So I had like 50 units going and I kept blowing up the damn transformers on the block. You know, the electric company was getting a little upset with me and they basically just wanted me to shut down.

So what they did was, you know, they tried to pull some sneaky shit. They changed my rate from four and a half cents to 14 and a half cents. So I came, you know, I left to look at this place and I was already planning on doing this and I got back and they're like, oh, yo, it's 30 Gs, you know, 15,000 a month.

And I'm not the kind of guy you fuck with. You know what I mean? The fucking dirty shot is so. So they thought, I said, well, fuck you. You know what I mean? So you ain't getting fucking nothing, you know, fuck you.

And I'll do this and then to make it even better, I said, well, I fucking said all this shit too because who isn't going to want to do it? You don't want to power your house for free and big Bitcoin with the excess power.

I mean, to me, fucking back in 2017, as soon as I had them four units, they made 100 a day. That's the first thing I thought of. I said, well, if I'm not paying electric on these, you know, so it was, it was already in my mind.

2018, I had my first prototype of this little setup here. So let's talk about your setup. You got wind, you got solar, you got a lot of unique configurations. You got a tag on your Twitter, built, not built.

Did you just buy a mess of solar panels and windmills and set them up in the middle of nowhere? Right, well, I bought this 100 acres out here. There's nobody around, I love it. Just animals and shit, and they love it too.

So yeah, so I bought, you know, I bought the panels. I split all that shit together. I built all the framing and everything's all custom built. Everything out here is custom built. The windmills, custom built.

I mean, you can't buy this shit off the shelf. You know, the only person you ever be able to buy it from is me and that's because I built it. The problem I came to, right, I bought this place, there was a lot of wind.

I mean, I got 60 mile an hour, all fucking week. Tons of wind, but I tried buying all these windmills that they sold and they all just jumped. You know, the real, real big ones are like fucking million dollars or something.

And they're crazy as hell. So I had to engineer and build all this shit. And the only thing that is purchased on that windmill in reality is the generators and the blades. The blades I had bought shipped them into China.

But even the generators are modified. - So it's like a necessity as a mother of invention type thing. If you didn't challenge yourself with moving out into the middle of this wind swept plane, would you have ever learned any of these lessons that you've learned out there and developed these unique systems and ways of doing mining?

- I mean, everything I learned is from trial and error out here as the main thing. I mean, like I said, 2018, I had my first prototype. So, I mean, there was a lot of tinkering to get things to work right.

I mean, I can't even, I don't know. I spent a lot of money, I think I'm 15,000 or something in lost batteries, just because batteries can't handle the whole digging coin thing. There was a lot of trial and error, but it's, I mean, it worked out.

- Is the issue with baddies just the amount of draw and the inconsistent draw and what is it about batteries that gets so stressed out by mining? - It's because of the, I mean, they use a lot of power.

Miners use a lot of power and it's constant. So it's not like a, you know, a little bit here and there. Batteries are like a little bit of power here and there, but then you go hitting them with these fucking units and they just want to destroy them.

They just want to take everything they can get. So you need tons of batteries and that's the main cost. I mean, that's the thing here. It's what I built here, it's all built out of trash.

If I found it laying around, I built it, I built with it. So it's dirt cheap and it's more efficient. That was my primary goals all of this. No electricity costs. - So with these lessons that you've learned out there in a while, what battery works, what generator works, what type of windmill works, you are very close.

I assume to developing a system that is replicatable and you have come up with a geyser fund to fund building a solar powered mining operation. Can you tell me about your geyser fund, what you'd set up?

- Right, so I never had intended on telling any of this. I just said, you know, I originally thought, you know, just do this, make money, I'm all about Bitcoin. So that's why I just want to have a constant supply of the ship.

So yeah, so you gave me the idea and the plug miner thing. I just realized there was this big community and so I said, well, what can I do? I said, well, if they finance it, then that means that they want it.

So I'll build the first prototype setup for them. I mean, I've already got it built. I'm just building a smaller version for people, something that they could set up on their own. And if they buy it, I mean, if they put it together, then I'll sell it to the population that just means people want it.

And everything that that first prototype setup, everything that ever makes, I'm doing it that right back into the geyser fund or just random plebs or, you know, whatever the community kind of thinks to be done with it.

- Yeah. - But that will be the first for sale setup once that's done. And that should be around three year ROI. So it should be anywhere from three to five grand for that and run one unit and that would be to start.

- That'll run a new gen unit or you're talking that'll run an S9. - Well, it can be either ROI. I'm gonna do a bunch of variants on it. You can do new gen unit or an S9. But here's the thing.

So if you pay six cents a kilowatt hour for your electricity, you pay for my setup, your S9 on my hybrid setup will either be break even or profitable at six cents a kilowatt. I mean, that's gotta tell you something right there.

And then you don't have to use the hybrid setup at all. You just let the damn thing run. - Yeah. I feel it's the best way to get it out there. You know what I mean? We gotta secure the network.

As I like to say, if you're not your own electricity supplier, it's not really your mind. - Yeah. - 'Cause that's what they did to me. Like I didn't have no control over that at all. - They can rug pull you at any time and you would set up all this infrastructure and all these hours and they're holding it over your head.

They got you by the balls. - Well, the electricity company is the biggest shit coin in the fucking universe. These assholes, they make power. Or as fuck away. I mean, out in the middle, you know, fucking hundreds of miles away from you.

And then they send it to you and they lose tons of, I mean, you're losing so much power over those fucking lines. I mean, I don't understand why you can't just throw a couple of solar panels on your roof and just right there.

I mean, why the fuck are you paying them every month until you die when you could just spend maybe five grand on some fucking solar and put it on your roof? And there you go. You don't need a little more than that, but I'm just saying, you know, to me, it's just, I don't know.

It was 'cause they, I mean, like the way they did me, so. - Yeah. (laughs) Well, that's why I kind of appreciate what you're doing out there because you're learning all these lessons for us.

What cheap piece of Chinese crap works and what cheap piece of Chinese crap doesn't work out there. How it could be modified for mining because these things aren't made for mining. They're made for powering televisions and refrigerators and just normal household things.

So you're learning the lessons for us out there. What is your end goal for all this? Are you gonna spend the rest of your life out there? What do you see for like the next year? Well, hell with you.

Can you make it to the next couple of months? But what do you see for the next year in the next couple of years? - Right, so you're living out here like a fucking savage, you know, every bath I take is snow that I'm melded, you know, right now.

So it's, my drinking water's all snow that was melded and filtered. So it's, I don't know. Honestly, I dream of one day owning a yacht floating around the world, but in reality, I'm the kind of guy, you know, I don't know.

It's, I talk a lot with my buddy about, there's this town that I can buy. And I'd really like to just buy it and build a Bitcoin city and set it up, you know, where if you come to our town, we don't accept nothing but Bitcoin, you know.

- Yeah. - Everything is just, you know, encouraging things that need to be encouraged in real life here. And not this weird shift that's going on now. It's just fucking out of control. So I mean, I don't know.

It's mainly, I really wanna destroy the electric companies. I figure if I can put these together and I can sell these damn things, then who isn't gonna want something that powers their house?

- Yeah. - And then all the power they don't use makes them money or digs them Bitcoin up. You're gonna, I mean, you can't tell me you're not gonna want that. So that's the biggest middle finger in the world to the fucking establishment right there to these assholes riff on the solve.

- Fuck the establishment, fuck the banks, fuck the electric company, live life as a sovereign. - Well, you just can't tell me that they couldn't have figured this shit out years ago. You got me, I mean, I'm basically a retard compared to some of these people that are out there in the world.

So here I am building some crazy shit and these electricity people, they just, it's easier just to take your money and I don't, I never believed in any of that. I'd rather, you know, value for value.

That's kind of what gets me about Bitcoin is I'm not ripping you all, you're not ripping me all. The whole corporation setup is, I don't know. I think with the idea of when I do sell this shit that I'll just sell it for no profit.

I mean, you don't have to pay taxes on something that you don't make no money on. So, and to me personally, it was never about the money. I've had plenty of money and I mean, I still got money.

I just choose to do the things I do because it likes an adventure. - I could have said it better myself. If you'll bear with me, we have a sponsor for plebminor in the wild and that is peach Bitcoin.

So if you ever need to sell Bitcoin to fund future builds or even buy food or propane, for instance, and you can't do a real life peer-to-peer transaction or do some kind of value for value transaction, peach Bitcoin is the preferred method of exchange on plebminor monthly.

So if you get a chance dirty, give peach Bitcoin a look 'cause you can do peer-to-peer transactions and sell some of your Bitcoin KYC free to someone that is willing to exchange dirty fiat to dirty shot you up for mine to be.

- I'll have to check that out, see Coinbase. I was using Coinbase. I sell everything, I sell everything to build. I don't hold Bitcoin. I hold a big-ass mining operation that don't have no electricity costs.

So I'll have to check it out. Coinbase kind of fucked me with the KYC. - It's peer-to-peer, peachBitcoin.com. They're coming out of beta soon here in about two weeks. So you can give it a look, see.

- Well, you know me, I'm all about download random ads. - Yeah, we just found that out. (laughing) - Fuck it. - Hey, dirty, thanks for, thanks for sitting down with me and being a plebminor in the wild and go fuck yourself.

- Right, right. Go fuck yourself, buddy. (laughing) - All right, man. - All right, later. - Now that is a plebminor in the wild. You got that red. That is exactly what I was fucking hoping for.

And what I love is that dirty's innovation is fueled by hatred for the establishment and energy companies. That's where the best plebs come from, that fucking hatred. (laughing) - Giant chip on your shoulder.

- Yeah, giant chip. That's a really fucking good one. I look forward to seeing what comes out of it. When did you record that? - Last week. - Okay. - At the beginning of my sickness, you can hear my voice.

- Well, it was fucking awesome. That was the perfect length and just, yeah, to hear that someone is out there building like proper pleb tools is really, really cool. And I love that it's all built out of just scrap and making do, it's really fucking cool.

- I mean, that's that guy's whole philosophy is, it's just like one day to the next, one foot in front of the other. If anybody doesn't follow Dirty Shotgun on Twitter, it doesn't even matter if you're into mining or Bitcoin, just the story of this guy's life, how he lives his life out there every day

in the middle of these windswept, snow-ridden plains. Truly, I mean, I'm not joking around. This is our first pleb minor in the wild who literally lives in the wild. The other day, he's burning his cabinet doors for fuel.

That's how dedicated this guy is to building that mine, to building an off-grid, wildcat, wind-fueled, solar-fueled mine where his only source of water because his water tank has been frozen forever and these cheap-shit Chinese pumps that he gets keep breaking is to melt snow with a miner.

- Amazing. So he's just literally out in the middle of fucking nowhere building this stuff and then use the miners for heat and if that's not enough heat, then he burns his kitchen. - Then it burns his kitchen.

- Yeah, that's exactly it. Can you imagine what he's gonna build next year? He's doing the dirty work. Dirty is doing the dirty work for us, figuring out what works, what doesn't work, what's crazy, stupid, what's crazy enough to work.

It's just an impressive guy. You know, we talked a week ago, we talked for like an hour and a half, like I'd known this guy forever. Before we recorded that, that was interesting to try to, the only thing he has out there was a phone.

So trying to get him to record with just a phone. We talked for a while, really interesting guy. Worth a follow on Twitter, that's for sure. - Yeah, that's fucking awesome. So talk to me about this fund for building one of these setups because it sounds like that's kind of the goal here is to build something

that other people can maybe not have to go through years of pain and the lessons that he's learning, the hard way to maybe be avoided. - Yeah, so he'd set up a Geyser fund and what he's trying to do is fund like a standalone build that is solar, you know, it's off-grid in some way to where you can replicate this at home.

You can say, "Hey, here's my parts list, "I'll build this for you, here's it working in action." And that is going to be like a prototype setup and anything that that particular setup mines, he's gonna put right back into Geyser fund or give back to plebs in some way or another.

And I thought that was really cool because he said he was inspired by blood miner month and the things that we did, giving away machines. So I don't know, that was kind of humbling. I don't have much to say about the pleb miner month inspiration, but that was neat.

Sometimes you don't know kind of the butterfly of the things that you do. - Well, I have something to say about it. I think that's kind of the whole reason we set this up in the first place.

Or like the whole reason we did the pleb miner month in the first place is, you know, you get the sense that there are hundreds, if not thousands of people around the world who are doing crazy shit and innovating and really care about decentralizing this network and doing whatever they can to fuck the system.

And it was just a way to find all these people and make these connections. And I see it all the time. Like this is one where he's been inspired and he's now hopefully gonna join ranks and more people will be inspired from this.

And then our last pleb miner in the wild, Zach, he's now teaming up with crypto cloaks. And, you know, we've got all of these little nodes all making connections. And I'm pretty excited for the future.

One thing that he's doing and it's funny how all this stuff ties together. I talked to him for an hour, hour and a half. Talked him for like another hour last week. You know, conversation went all over the place.

And he's talking about buying this city in the middle of nowhere and building a Bitcoin mining city, a pleb city, he's talking about value for value. He's talking about people coming there with their wares and their goods and their foods to trade and sell.

And I said to him, I said, have you ever heard of the mesh to Dell? This is the mesh to Dell concept. Everybody is independently building these different types of nodes in the mesh to Dell.

It's funny how we're all focusing on the same thing, the value for value, the breaking the system, the living within our own system and using Bitcoin as the medium of exchange. I'm just really excited for old dirty city to be built.

And for another franchise of hash sluts strip club to go in dirty city. Definitely has a place there. It's interesting to see how people are all thinking similar sort of way. And it is starting to become a reality.

That's the cool thing is like things we were talking about maybe two years ago are actually happening. And you know, where's it gonna be a couple of years from now? So has he joined mesh to Dell yet?

He hasn't joined mesh to Dell yet, but I'm certainly going to reach out to him. Survival is a thing that we talk about on the mesh to Dell and having to bug out sometimes. And I think there's a lot of lessons that he can teach the rest of the mesh to Dellians, lessons that he's learned out there being a blood miner in the wild.

Sounds like it. I'm gonna link the Geyser Fund on the show notes and I will also send out another tweet. If you're interested in donating to his Geyser Fund to have him build this thing, I think it's a worthy donation.

I'm not chilling for donations. Go ahead and look at the Geyser Fund and see what you think. But I donated and it's kind of cool. I want to see it built. - What else have we got? Anything else on the list?

- I want to say thank you to Bitcoin hat guy at Bitcoin. We did a limited release of plebminer hats. This was a flat-brimmed hat. I don't know what those kind of hats are called. Snap back.

That's the name of it about me pulling that out of my ass. We did a limited selection of plebminer snapback hats that sold out right away. And we hope to do another release of hats. But it was really cool working with no Bitcoin, Bitcoin hat guy.

And I hope to do it again in the future. - That was a very painless, easy relationship. He said, "Can I do some hats?" We said, "Yeah, can you send us just a few sets?" He said, "Yeah." He did them.

Everyone got them. Everyone's happy. He sent us a few sets. It's done. - That's why business should be done. Much like fix rigs, he knew about logistics. So thanks again to Bitcoin hat guy and he has a lot of other hat offerings.

So not only visit ungovernable misfits.com for the ungovernable misfits gear and clothing selections, but Bitcoin hat guy has some cool stuff too. - Hats probably. - That could be rumor. Check it out for yourself.

Do your own research. Now that we're animated, it's important for everybody to check out the ungovernable misfits YouTube channel. Newly revamped by Mr. Crown. It looks cool. Check it out.

Maybe Mr. Crown can like point my finger to the screen right now. I'm currently pointing at the ungovernable misfits YouTube channel. (laughs) Pointing at the link. Yeah, he's been putting in a lot of hard work.

Re-vamped the website, redone all of YouTube. He's just put us on noster as well. Mr. Crown is on fire at the moment. So a big, big thank you to him. ♪ Mr. Crown is on fire ♪ Don't leave a day job.

Feel free to edit that out. (laughs) It's burned into my soul. (laughs) You're welcome. - Right, anything else? - Nope. - You sure? - I think so. - No, I don't have anything in my notes. - That's right.

Piece of paper. - Right, if that's everything, then we'll close out. And I just wanted to say a big thank you again for everyone who's keeping us in this top 10 spot streaming sets and sending boosts.

really fucking cool. So, thanks everyone and we'll catch you on the next one. Bye.