Pleb Miner Monthly EP08 ( Bitcoin mining news and statistics.)

Mmm All right Here we go. Yeah, that could be an ASMR thing I'm just hacking before we record All right, and a three two

To the symphony Way into the symphony Well Max, I think we're missing out on this latest trend You're familiar with it. It is called NPC streaming. I love it. I'm all over at night Are you all over it? Mm-hmm. I saw a tweet the other day with this guy named X nardo from Pepinardo studio

Great guy. He says about it the digital landscape where individuals transform into virtual marionettes Controlled by the whims of their audience. I think we already have that going, but we are missing an opportunity to make some some serious cash here

Mmm, so we do the fountain boost, but maybe this is the next layer. This is the next level I mean there everybody's acting like this is new. We've been doing this with fountain boosts for for the longest time Mm-hmm. We're ahead of the curve. Yeah, we are somebody puts on there and says say barn miner

And then what do we do? Mm-hmm barn mine is so good Yes, yes, yes Thank you peach. Thank you lincoln Fix rigs fix rigs amazing mmm Satoshi so good Statistics Action news We could be rich. We didn't know this mmm

Shall we start the show start the show start the show Bitcoin is close to becoming worthless Now what's the Bitcoin Bitcoin's like rat poison? Oh

Go fucking zero Pled mine a mafia gang gang They are a gang gang. It was good. Do you know I? Think that we're missing is like the disgustingly long nails grabbing fake shit

You we can't really relay that just by voice, but just know that we're both doing it Yeah, I give super long nails on right now. Mm-hmm. What color orange sure orange and white nice Welcome to another episode of pleb minor monthly audience We usually start the show by reading fountain boosts and we'd like to do that now

But if next time you'd like to control us like marionettes Turn us into some kind of perverted NPC Fake human you may do that. We'll just do it for sats. Yeah only fans That was the fan of an Isaac. Oh You see what I did there. Yes, I did only a sick fans. Hmm my comedy is very layered

It's very nuanced very mature. Yes first fountain boost is from Nick Foster Nix gives us 69 six hundred sixteen. Oh boy. Why do people do this? 69,696 that's and he says how does this app work? Where am I also very mature with the 69's mm-hmm. Mm-hmm. That seems like Nick Foster's Thing he's very mature

mmm mr. CD Brown 20,000 and 21 sats hash luts. I just want to be in the mind, bro I'm the shit stain on the underwear of life. I Really connected with that when I read it. I was like fuck. We're so in sync I'm the shit stain on the underwear of life Bitcoin is a lifestyle truth

Integrity fucking freedom the plebs are the real signal

Next one is from pies. That's right. You heard me 30,000 sats. Boom top three Well, it appears voice into two full you know 10,000 sats This is what happens when you allow the Germans to take over a monarchy They just create tamed societies. I had to ask him about that last night

Yeah, what the fuck does that mean? He's talking about your monarchy. Oh, yeah, they're of Germans. Oh Yeah, German linear separating. Yeah, half German shepherd half coolcase Yeah, and then he gave me some quote from Churchill about getting fucked by Germans

From above and below talking about the nazis never behind though. Mm-hmm. I'll stay in front of it Okay, all right Greg and La Pois 9,000 sats and he asked for me to read this like a yoga instructor on a couple's retreat see see what I'm talking about People are already doing this shit to us He says I love it. Yes

Encouragement no, you've missed it. Hmm people's retreat is a film. Oh There's a bit in there where there's this like creepy yoga instructor, and he's like I love it Yes, encouragement So that would be how he was probably not a very good impression, but you get the general Jesse wears like little speedo's

He's got like long hair looks a little Greek god-looking guy, and he just tries to fuck everyone's wives Oh, yeah, well that's why you did a better impression than me. There you are. Hope you enjoyed that. Thank you Catch myself up on couples. That's so good. Ha slaps You edit that one out the licking Slurp

I discussed myself and everyone else. Yeah a myth around here 7,700 and 77 sats Chet is based a F. Let's stands for as fuck. Oh, okay. Welcome next one is from full of a took fly 7,000 sats another tight rip always looking forward to these bond 6,969 sats

fucking born So should we ban him can we ban him? I don't know he gives me does give us that hmm, and it's an open platform as well Isn't it yeah, I think you're set so good ah this fucking guy again. Yeah, yeah, that's right This fucking guy and here's another boost blame

Canada and then he has like a little helicopter and then a cloud and a cloud and a cloud and a cloud and a cloud and a cloud and a cloud and a Cloud and a cloud and a cloud and a cloud emoji followed by flames are good flames are good flames are good

Tree flames are good flames are good tree tree flames are good flames are good flames are good flames are good Tree flames are good flames are good flames are good cloud cloud cloud cloud cloud cloud cloud cloud cloud cloud cloud cloud you didn't miss one That was awesome. You can do this. I have been mate

How do you think I've been sucking sats? Oh shit? I didn't realize yeah the next one is from pies 5,000 sats and he says get it straight motherfucker. It's pronounced pie Z like a pie with a z thank you PS and mr. Mister replied to pies Thanks for the clarification mate. I had been thinking your handle as P is

So mr. Mister thought this as well. That's better. So thanks again. Thanks so much for your consistent signal Have been inspired by you to tune my cadence and drop my default TTT time talent and treasure boost So I can keep doing it nice just to clarify here Yeah, is it like if we met him we we wouldn't go. Oh, hey piers we'd go. Hey pie

Z or do we go pie z or do we go pie? I still don't know All right, then send us another boost We just don't get it. No, but seriously because he says it's pronounced pie - z mm-hmm So I'm still like what do we literally go and then he says like a pie with a z

I've never seen a pie with a z so I'm like is it pies? I don't know he needs to let us know So that's place my let us know. Yeah, who's this cunt? Oh at John? Yeah, I was right Wait till I tell Max unlikely. What do you think you were right about pies?

Well, I don't think you were right. No, I still don't know We still don't know Well, let's see if pie said if pie - z Boost for this month then and if you are right, then you can tell me next month by setting sets Very well. I'll boost our own show just so I can tell you nice and now statistics

Statistics Statistics I'm gonna tell you the basics for hashing with basics Bitcoin mining statistics

Statistics statistics I'm a telling the basics for hashing with a six Bitcoin mining statistics Statistics statistics we have our own hot girl doing ASMR

Type stuff saying statistics over and over again. That was me. There you go. You're the hottest girl. I've ever met Statistics is brought to you by lincoln mining and their suite of products combined the power of lincoln pool lincoln

Asic management software and rails rails enables miners to make real-time decisions based on a number of real-time metrics The asic management software performs the tasks to enable you to maximize your hash rate to their pool

It's hot out there contact the lincoln mining team today to see how you can take advantage of demand response and curtailment programs Provided by your energy provider here at pledge mine a monthly

We use lincoln lens to make customizable charts from stats like hash value price difficulty transaction fees as a percentage of block reward and hash price Global hash rate on a 30-day moving average is 375 x a hash It was 368 lincoln pools or lincoln mining rather hash rate still sits over one x a hash at 1.1 x a hash

So that was not an anomaly max. We really did make that happen. Mm-hmm. That's right. So good. Mm-hmm Oh the Over the past month the highest one-day moving average hash rate was almost 451 x a hash that's almost half a zeta hash on July 7th smooth graph out a bit and look at the seven-day moving average

The highest was 404 on the 9th of July and move way out to the 60 day and it was 376 it was 368 our last show so once again 60 day is still climbing despite load shedding curtailment Demand response programs in response to this hot summer heat hash rate is still up max

Remarkable it is we're gonna cover the weather and greater detail in this month's base slowed update on action news

Difficulty we are in a difficulty epoch 397 difficulty is 53.91 trillion that was an increase the last difficulty adjustment was a plus 6.45 percent increase Hash value is now 24,022 sats per day per 100 tera hash Transaction fees as a percentage of the block reward. There's really nothing to note this month max

It was like 2 to 3 percent. You're not getting rich off it Of course, you probably had a hundred percent uptime during that time Kind of confirm we're gonna wrap up statistics pretty quick Because we on action news we're gonna do a deep dive on Niko smid's

Analysis of the first half of the year and it's just very detailed with a bunch of statistics and numbers So I want to go into that with everybody But before we move on to the next section I want to read a tweet from a guy named Rolf versus Lewis and it says he is

Closing down their 2.1 megawatt facility and they are getting questions as to why that is he says it has to do with the cyclical Bitcoin mining philosophy that he developed at the beginning with a single aunt minor s7 in 2017

He says the trick you have to have is miners running to take advantage of it because it takes about a year to bring a facility online He says in 2019. We used an aunt minor s9 and l3 plus from brokers for between 50 dollars and one hundred dollars each

We caught the light coin is then the Bitcoin price rise quickly paid back the purchase price then kept on mining until 2022 when the Profitability finally went negative on those machines He wants to do the same thing on the next cycle, but there's a problem the problem is that the numbers are not working out for him

Right now. He says he can fit 600 s19 to their facility. That's six hundred thousand dollars worth of machines He says right now each machine grosses about seven dollars revenue with five dollars electricity costs per machine Well, he must have a nice price for a net of two dollars per day

That's thirty six thousand dollars per month in that profit at current conditions of Bitcoin price and hash rate That is a 17 month payback, but the block reward gets cut in half in eight months Everything else being equal after the having that's two dollars per minor loss per day

He says that's right spend six hundred thousand dollars now and next year lose thirty six thousand dollars per month Unless Bitcoin doubles in price, which of course we've talked about a lot on the show and hash rate stays the same in which case It is still two dollars per day per machine if everything else stay the same

We've been earned back the initial six hundred thousand dollar profits in thirty six months or three years and you compare that to What he said earlier and I think he said they paid that back in six months. So obviously that's a big difference

He says if the Bitcoin price goes down in the next twelve months, we'll be able to buy used s-19 for less than two hundred dollars each Oh, that's a hell of a prediction We'll be able to fill the facility for a hundred twenty thousand get them paid back in six months and then run them for a profit until the next

Having if Bitcoin goes up in price significantly minor price will go up We'll be priced out of buying used machines But we'll get a lot of calls from people that will want to buy the facility to plug in their palace of mining machines

Should be able to sell the facility at a good price if Bitcoin price stays around thirty thousand the bottom half of the Bitcoin mining facilities from a profit standpoint We'll run out of reserves after mining at a loss for six to twelve months Again, we'll be able to buy used machines for less than two hundred dollars each

He's really standing by that and he closes it out with that's why we're not in a hurry to either fill or sell the facility Going to wait and let the Bitcoin price and hash rate markets provide the direction Interesting, and we know what Bitcoin has done historically, but it's Bitcoin. So fucking anything goes

I can see why people would be a little bit nervous Sure, and I appreciate Ralph sharing his strategy as to what he's going to do because You talk to I asked I asked this question in our telegram group. How much of a runway do you think none?

What I say like non-institutional miners, you know those that stand by the pizza shop analogy of Profit loss and running a business those that don't just don't have immediate capital with VC money What kind of runway do you need to get past the having and what do you and so I think I ask like

What do you need two months three months six months or six months plus what do you think the majority of the group? Yeah, yeah, exactly. I'll be saying two years. It's what you need Wow two years runway I wouldn't be doing it without two years. You see what Bitcoin does. Yeah, fucking so unpredictable

And then you also have like if you're gonna have some reserves You also need reserves for any of the other shit that can go wrong Pairs whatever it can be like you're gonna you're gonna run into problems and then you can be coming up to the halving Hash rate can get away from you

You can be a breakeven or lost for six months to a year and you can hit the halving the half inning And then you could have another year where the price is suppressed You could even have like black rock or one of these guys start fucking around and manipulating price to some extent Short term. I don't think long-term they can do it

But you know if they want to be buying they want to be fucking around and manipulating things. I'm sure they can do so I wouldn't be comfortable unless Yeah, I've got a two-year runway because you can easily get caught out like that and then you lose everything There you have it advice from Rolf versus Lewis and max bit by bit

The kind of runway and maybe your strategy for the next halving. What was the general consensus then six months plus was Was the general consensus in the group vague that is because six months plus could be it's just more than six months

But is yes, it's vague maximum. How long did you want me to make the survey? Well, just I just wanted more than that Yeah, it's it's too vague because it could be like six months plus like some people could be thinking four years

What would you feel comfortable with six months six months? Okay, but I'm not a great businessman. So I don't know if I do Any kind of heavy and depressing. So why don't we bring in body to cheer us up? Let's do that Somebody this time. I actually am in my me at mining disrupt. It's going to boss

To get a chance to hang out with me this week. Just are chilling with the boss. Oh That's nice body. Yeah. Hmm. Guess what? I'm not far behind you I will be there with you at mining disrupt and we can all hang out Maddy just told me the best ad joke. Why I hear it sure body. Let's hear your best dad joke from many

What did the shovel say to his friend on the beach? Are you okay? You're looking a bit pale That's adorable body. That's very sweet. Yeah Mm-hmm. Top joke top joke looking a bit pale. You see that was a beach joke Because I am in my me my bros

And now for a bite size Bitcoin Just don't even hang up I don't want to fucking talk to him anymore. You just don't know what to say. I don't know what to say to him. I mean he's sweet Body is a real sweetheart. Yeah, but sometimes you just know where to go with that

Highly regarded All right, and on now on to our bite size Bitcoin to begin with what is Bitcoin one bit? 47 a lot of people are familiar with lightning and liquid is effectively a layer to that one two nine What is taproom? Florian Tapra. That's the first new protocol great since saguit difficulty adjustments

How to mnemonic seed words work? UTXO management All right, Max this is a bite-sized Bitcoin But it's gonna be a different sort of segment. It is bite size It is on a topic that is important to Bitcoin

But it is also a topic that is very near and dear to the mesh to Dell group Perhaps on the bit-by-bit radio network the mesh to Dell has not been spoken about in a long time But it has been running in the background. So perhaps we should call this segment the mesh to Dell Memorandum you like that name?

Not really we used to have mesh to Dell monthly, didn't we? Yes But everything can't be monthly well, I've got Bitcoin Mining monthly mesh to Dell monthly a lot of alliteration. Mm-hmm. Yeah, I like mesh to Dell Memorandum you can have mesh to Dell meta memorandum within mesh to Dell monthly mesh to Dell monthly memorandum

That's a mouthful. So she said how you either way, let's move on to mature subjects We're we're going to do a little bit of mesh to Dell fusion here with the pleb minor group And we're going to review something like I said is near and dear to our heart and that is the eight forms of capital

So this is the eight forms of capital pleb minor monthly version I was hipped to this concept by our very good friend Carl so please follow Carl on noster and give him some zaps for some of his content because a lot of this comes from him and Well, he should just get credit for opening our eyes to the eight forms of capital

the eight forms of capital were created by a guy named Ethan Roland of Apple seed regenerative design and holistic farm planning and their website is apple seed dot design and his pages Ethan solo view Dot-com this topic was first brought to my attention from Carl of course

But it has been reviewed by Chris Martinson of peak prosperity who I'm a big fan of and he interviewed Ethan Roland on his show And I will link that interview in the show notes so you guys can get a better understanding of the eight forms of capital and how it relates to permaculture so the eight forms of capital are Social material

financial living cultural experiential intellectual more importantly spiritual capital and then a possible ninth form that Carl has Hipped us to is vital capital. So on this installment of bite-sized Bitcoin or a mestrel memorandum on mestrel monthly We'll discuss the eight forms of permaculture capital and relate them to Bitcoin mining

Are you excited about this max? I have to say I've been sent the link to the eight forms of capital or potentially nine forms of capital Eight or nine times and I'm yet to go through it. So slap on the rest for me But yeah, I am looking forward to it. Yeah, perhaps you should be slapped on other parts of the body besides the wrist

It seems like you could probably tolerate that perhaps I am okay social capital Okay, moving on swiftly I just know how you're gonna get you're gonna get dirty real quick. Yeah, yeah, yeah, all right social capitals

The ability to wield influence. That's you you're the social capital guy and utilize a lifetime's worth of connections in relation You want to guard your social capital you can use your social capital for short-term gains like scamming somebody if you want, but that is wrong Oh, yeah

It can be well can be well used to benefit all parties like Uncle Ben Parker advises with great power comes great responsibility So use social capital wisely and ethically and it can foster a sense of trust within a network So how to relate that to mining well

You can use your social capital to kind of counteract a lot of the negative social capital within the mine Industry, you know, you have a lot of equipment dealers hosting companies container Manufacturers equipment manufacturers VC investors a lot of these people have kind of fostered an environment of mistrust within the mining community

So when you come in with positive social capital I think that's very advantageous within mining for us our pleb minor groups and the meetups that we have and us getting together and Breaking out into our other groups and bonding with each other and getting to know each other that that can foster an environment of trust

Operation and collaboration. Mm-hmm as we talk when someone's Not trustworthy. We chat sir. Yeah, there's a lot of chatter on that when somebody is trustworthy You get just as much chatter people are very happy to share stories with somebody that they ran into that gave them a helping hand

Or some good advice they move on to our next form of social capital, you know building out of mining operation could be dealt with the regulators politicians residents of the community That you mine within property owners for where you want to set containers or where you want to set up shop

For the home minor you need to have good social capital with your wife that she you know, you say to her. Hey, trust me It's okay. We're not gonna burn the house down don't worry about the noise Don't worry about the noise if you've built up good social capital with your wife

That may make building out your mining operations at home a little bit easier. I want to make a note on social capital max Hashing to heating. I've known hashing to heating for a long time and I just want to extend a thanks to him because he has extended his social capital on behalf of pleb minor monthly on behalf of the pleb minor

You know group and movement that we have hashing heating has done a lot to reach out to people and say hey I think it's to be a good group for you and making connections for us So hashing to heating I just want to extend a big Thank you for often making these connections with people because he's a very social guy

Yeah, thank you, Mike. Moving on to our next form of capital material capital That is the raw and processed resources like stone metal timber and fossil fuels used to create more sophisticated materials or structures These can be turned into even more complex forms of material capital like buildings bridges and other infrastructure tools

Mining capital is your mining infrastructure. None of these should outweigh the other forms of capital But obviously material capital is kind of magnified in the lens of mining because you need miners to do this miners panels cooling systems electrical and it infrastructure, etc

You can't mine without the miners. So obviously material capital is very important But these all kind of blend in with each other so you have your material capital But it also requires experiential capital to operate the material capital within the mine So you have to make sure all of these things are on the up and up

well, it makes a big difference because you can have someone come in with their pockets full of cash and They can start a mine and fuck it right up because they just don't know what they're doing I think that's like the big thing with having these collaborations and these groups is like

People can give the advice and you know what to do with your materials You don't just come in with some cash and you've got all the gear and no idea You've got a group of people who have made the mistakes and they know what they're doing So invaluable. Yeah, you can come in as mr. Big pockets. I've got a lot of financial capital

But you're gonna need people with experiential capital and intellectual capital to help you point your financial capital in the right direction So that leads us to our next one intellectual capital and that is your knowledge asset obtained through intentional study and research

Like reviewing our bite size bitcoin series review that content Review our past year's worth of pleb minor content on the bit by bit media network and that could potentially increase your intellectual capital That sounds posh bit by bit media network. Wow So intellectual capital as far as mining is concerned can be your knowledge of the

Properties of electricity for instance. We have a bite size bitcoin on that It we have a long form interview on that Electricity markets. We always got our base load real estate markets. We've got our barn miner Finance and accounting. I'm sure we have somebody smart to do that hvac

And you can use your social capital to build the uh pleb minor monthly mafia and in using your social capital to build the pleb minor monthly mafia We have a pretty good bull pen of intellectual capital. I think the best in the world. Yeah, I totally agree

I don't think we're being boisterous there. You look through that group 112 members 111 of which are Unbelievably bright and have so many different skills in different areas. Who is 112? Me, I'll say this about you're a good gift picker. That's true. Yeah. Yeah, I saw myself short there Yeah, totally. It's you're very good at it poignant

I'd like to um if anybody wants to join our telegram group. It is a members-only organization But uh, just reach out. We'll get you in the slightest a few cents. Yeah Speaking of sats, how about financial capital? Well, that that's easy for us We would say bitcoin is our financial capital, but local currency gold

Basically something beyond the barter system. That would be your financial capital Sometimes you need to exchange between different forms of financial capital And what better way to do that than with peach bitcoin peach bitcoin is a peer-to-peer

pleb to pleb exchange platform that allows users to buy and sell bitcoin directly with each other when you sell bitcoin on peach You're giving other plebs the opportunity to get their hands on bonafide bitcoin not ky seed io use from an exchange So you're doing good

I saw they put out a tweet. Mm peach so good saying I think it was like 6.1 I thought that do something like that, which is pretty good Like so if you're a miner and you're like, okay, I've got to sell some sats here I've got to do some work or you know, whatever i've got to invest in some more miners or pay my bills

Then that's brilliant like not only are you not going on to a ky seed exchange and you know Having all the issues that you're going to have there you're also getting 6.1 on average above spot, which is pretty fucking good And if you're on the other side of that trade you're getting no ky seed sats

That's worth to me at least 10 20 percent more than going to an exchange So it's beautiful. There is beautiful and I thought to myself when I saw that oh shit I've been doing 1.5 over spot. I've been buying your sats and then just packing the right up Yeah, I'm just making a nice little 5% every day and with the amount that you're selling

I mean, what are you doing like 10 bitcoin a day at the moment? Yeah, at least at least I'm in just a little bit all over my stash Well, if you'd like to know how to sell from a pleb miner to a pleb buyer peach to peach in 11 easy steps

I'm going to tell you max is going to help me out. Why don't we alternate these you get your you got your notes in front of you

Let me get my classes on mate on sack professional podcaster. What does the world come to? The bar is so very low Yeah, okay. Yeah, you do one. I'll do two Okay, then I'd say you do three. I default. We'll work it like that. Wow. What a system

I know you're creative. What do I come up with these things? I don't know first thing you're going to do is select the amount of bitcoin You want to sell for me? That's 10. No, that's not true. That's above the limits. Just a joke. Okay Two choose to offer a discount or ask a little more than the market price

Or be boring and select market price And as a boring next thing you're going to do is select your preferred payment method from the available options, which we went over last month Please see peach bitcoin faq for more information Four fund the escrow to secure the trade by sending bitcoin to the provided address

Yeah, they're just going to send you a pop up a little address there. You wait for it to hit the uh, mempool Then you chill out and then you wait for the transaction to confirm and then it's going to let you know whether Uh, uh, uh, uh, whether it fucking works or not Onto the next one max

After the bitcoin network confirms the transaction your cell offer will be published matching a buyer back Hmm, then your cell offer will be shown to buyers who match your criteria Then you'll receive a notification when the buyer matches your offer and you'll select a match and the trade will be officially made Then you'll make the trade

Yeah, I was waiting for that bit Nine check the payment amount. Oh fucking god. I'm read nine Check the payment account to see if you receive the payment from the buyer Then you'll confirm the payment see if you've received it and the bitcoin will be sent to the buyer

You just take your little slider there at the bottom and slide right so yep I got it 11 right each other's performance once the trade is completed big thumbs You just put big thumbs big thumbs Labrador. That's right. The one on the right. That's your thumbs up Make them big

Max there's no easier way to exchange one form of financial capital to another than peach bitcoin I mean that was quite long Basically, you want to sell put it on there your hand is held through there. It's got a nice UX It's really fucking easy peach. So good. Yes. Yes

It took us longer to do the ad read than it takes to post a sell order on peach Yeah, I felt long anyway. It's good peach. So good. Yes. Yes. Yes gang gang Moving on to living capital living capital is made up the animals plants water and the soil of our land the life on this planet

At first it was hard for me to quantify these things as far as mining is concerned But then I kind of thought well, you know, if you got a mining container you can use trees for shade And get these permaculture principles of allowing the mining equipment to live in conjunction with the environment

Isn't that kind of a nice thought if you got a solar array that powers your bitcoin mine Perhaps you can grow shade plants underneath to wave companion planting birds could possibly be a nuisance to your facility You can get a dog like dot the dutch dratar that jeff hoes has to protect against birds

Maybe instead of a barn cat you can have a mine cat to keep rats from chewing on your cables or swimming in your immersion fluid Our plaid miner in the wild this episode here in hall talk about drying sugar beats For me, my dream is to mine at a substation in the middle of nowhere and run some cows on that same land

So perhaps that could be your form of living capital You know, if you have to turn off your mind for containment purposes or your perhaps you're not making a profit Well, at least you still have those cows on that land and that could be an additional agricultural revenue stream for you

The next one is cultural capital. This is another thing where I have think this program excels at and the mestadel excels at And cultural capital is a community of people who share the internal and external processes of their community They're shared culture their art

Songs and traditions pleb culture pleb minor culture. I believe the mestadel kind of brings the cultural capital together Um, it reminds me of what we wrote for the initial pleb minor month defining a pleb minor Perhaps I can quantify this. This is my definition of pleb minor culture

And I said pleb minor is dedicated to the bitcoin network contributing their hash Not only for the chance of finding the next block and receiving the blog subsidy And helping their pool find the next block for a share of the block reward But hashing because they know in their hearts that securing the network is a moral imperative

They mind because bitcoin is a chance for humanity to restore sovereignty to the individual to the family They heed the clarion call that sound money leads to freedom They mind knowing that for bitcoin to be decentralized they must be the ones to do it

Their motivations aren't to gain more fiat currency their motivations are to stack more sats and in doing so they innovate collaborate with other plebs And share the mistakes as well as their triumphs. That's beautiful. Thanks, man

Moving on to something that I think the pleb minor community is pretty good at and that's experiential or human capital And that can be described as a graduate degree from the school of hard knocks The graduate degree itself could be your intellectual capital

But the graduation from the school of hard knocks while that's your experiential capital A human family or community's lifetime of real world education and experiences put to work These are the skills that the pleb minor gains pleb minors are often asked

Why do you mind at a narrow profit or loss and you're that a lot, you know, it doesn't it makes sense just a DCA and hodl Well, maybe but if you're not gaining any experiential capital in that process through the DCA and hodl events Um, what good is that to you?

You could possibly be gaining experiential capital just by running an s9 home and understanding how these things work Uh, you're learning lessons on how to make an rj 45 and on an ethernet cable I'd allow in your pool. I'd allow in your minors to the point where you don't even think about it

You can just do these these functions so quickly. You're like a robot logging into them It's like if somebody shows you how to to hammer a nail into a board you say, okay, you know, I'll do that And if you never hammered a nail into a board you can bend the nail or you're gonna hit your thumbs

You're gonna hit the board and dent it which way do I hold the hammer? I hold the head you know Those kind of very nuanced things which way does the nail go in? The pointy end or the bit with a flat bit at the back. You just don't know those those same Muscle memory functions are very important in mining as well

Moving on to the next one spiritual capital that is derived from those who practice their religion spirituality or other means of connection to a higher power It's man's connection to a larger universe I am a Christian, you know for me

Jesus is lord, but you know, we don't we don't have to go into what your particular religion is for spiritual capital I think you can pull kind of boil it down to are you in the right mindset to?

Mine, you know, are are you centered as are you emotionally stable? I don't think it necessarily would be like wake up every morning and and pray that I hit a block today

Dissatoshi. Yeah, let us find this block amen Uh, but perhaps a spiritual aspect to us is is that we hope through our efforts We can you know, do the fix the money fix the world thing at the same time. That'd be nice foster an atmosphere of positive energy

Gang gang max is interesting that we use the word mine for bitcoin mining is it it is because what do you do in a mine? You know, like say you say you've got a gold mine. Mm-hmm somewhere. You're just stripping land away It's it's not a very permaculturey type principle. Look over the environment man. Yeah, but we like farming

Mm-hmm because you foster the land. Yep. You take from it. You give back So perhaps we can more often use the word farming in terms of mining or at least think that way growing sense You're feeding them electric. I guess it depends how you do it as well like a lot of what we talk about

Especially with like the pleb miners is trying to use your heat to do something productive I guess it's kind of like the two types of farming You've got the type of farming that you see most of the place in the UK where they're just fucking stripping the land

There's no proper topsoil. They just monocrop everything everything's sprayed like hell and chemicals and Yeah, and a lot of wastage and just yeah, it's not done the permaculture way which is to use everything and to be more efficient with things and so

Maybe that's uh that like scrappy way is actually farming and the other way is actually mining Yeah, good. It's another scrappy nature scrappy nature Uh another point that could be made here with with the a forms capital is you don't have to be Awesome in every single form like i'm not awesome in financial capital

But i'm pretty good in experiential capital. I've been around i've done a lot of different trades and and whatnot So they group together with people who are good at the other things Lean on them if they're better at financial capital

Then that's their part that they're good at the intellectual guy the experiential guy got your cultural guy like you max That's what that's what you bring to the group whole culture class Gives I want to close this out. A great point that carl made in our last meshedel call

Also, if you would like to join the meshedel just reach out and get you in there carl stated when he teaches this subject You know because he's like a permaculture teacher And he says time is the ultimate capital that you want to find the intersections and overlaps of all these different forms of capital

So you can become resiliently wealthy You spent your time weaving this web together of all these different forms of capital And then once these concepts are kind of set in, you know, it just simply runs in the background So once again, thank you to carl for

Hipping us to the eight forms of capital and now moving on to flip money monthly action news Yeah

Oh

Oh Hey Thanks for tuning in i've been john d and i've been max see you next week fuckers How the hell did that get played?

That's throw new hasn't it? Yeah Fuck Two sandboards today mate. Yeah. Yeah, I never know where it's coming from. Mm-hmm. I sure as fuck don't Makes two of us. Yeah, I prematurely ejaculated the uh action news What are we supposed to be having some more gang gangs some more fountain boosts? Okay. What do we go?

The pleb one seven eight five thousand sats fix here shit max eyes Yeah, that's from lc lc Also has a problem with his fountain app on his phone and he said for you He told me to tell you this to reach out to a mr. Robot to help fix your fountain issues Which one because there's so many?

Ask lc lc Tell max which mr. Robot you're talking about. Okay. There's some sort of weird bug But they're working on it apparently but I'll find mr Robot on reach out because maybe he or she knows better. Uh-huh Inclusive progress. Yes. Yes. Yes. Yes Next one is from mr. G 256 2,560 says he says thanks to bros like chat

I never got scammed by compass mining or any of the other nonsense that never made any sense I started home mining and handling the hardware myself and wouldn't have had it any other way Here's some coffee money. You guys are great. All right g man. See you in Miami. My boy We're gonna go skateboarding doing an ollie. I'll do an ollie

I'll do a 180 ollie in a shot kick in the flip. No My kickflip days are over. Do you used to be able to do a kickflip? Sure. Really? I used to do this thing. I never managed to kickflip and barely managed an ollie But I used to do this thing I'd like ride along on the skateboard and then I'd jump forward off it and then flick my fingers

Behind me to like flick the board and then jump back onto it Yeah, it was really shit But it was the closest I could get to a to a kickflip. It was a finger flip There you go. It sounds cool. I can still do the kickflip. The board can do it I can make the board just calm. I just can't lay on top of it. Not on your feet at least

Fair enough. You are old. Yeah piers 1,500 sats sim sima who got the keys to mobimah who will know that you know that song Oh, yeah, it's a staple in the UK. Yeah, sim sima and then piers again 1,500 sats plebmine a monthly theme song is hard as

Fuck son. Yeah. Yeah, we got lots of theme songs. Yeah, we got loads. You need to be more specific But yeah, thank you be Bitcoin 1,000 sats another great one. Keep them coming. Don't retire the show. Here's a little sweetener from my pitiful stack We're not gonna retire the show. Hey, what do you know that stop doing this to people?

fucking with their heads Next one is Greg and the boy 900 sats shit. I forgot boom I don't know if that had anything to do with the yoga couples retreat thing since I haven't seen the movie I might do it. It's actually quite funny. She watched it. Hmm and waste the time

There's a few movies. I tell you to watch and you just you're like, yeah, I might do that I don't watch it. You never do Never do was the one I keep trying to get you to watch the gentleman. Yeah, it's funny. It's really good I get around you like yeah, I get around to fucking

That's why I might stop the show. It's not because it's too much work It's just fucking dealing with this guy. What I don't like is it so insincere It's like just say listen max. You can't I'm never gonna watch anything that you suggest because I don't respect you or like you

To fuck off. Listen max. Yeah, it may be I might watch it one day All right, let's do if Sarah lets me Okay, let listen max I don't respect you in any way and would never involve myself in any art music Movies that you're interested in because I think you're a colossal retard. Hmm honesty so good

Mr. Mr. Mr. 138 sat please don't end the show. I'm freaking out lol We are mafia plus one. There you go. And you also skipped over a shitload. So go back up and read the pies 500 sat dyslexia so bad Shout out to the jeeps the lex coops the beemers and the bends What about Volkswagen's if I can miss that one? Yeah

Jerk, I'm a vw maximalist. There you are 84 miles of the gallon or whatever the hell you get Not quite mr. Mr. Mr. 369 sat's stay Uncoverable misfits. Yes, sir Some guy named john boosted 210 sat's a cheap motherfucker But just to announce we were number five on fountain for our last pleb minor monthly

Also, so thank you very much plebs for all the boosts you made that happen. That's pretty fucking good actually Yeah, number five in the world in the whole wide world. Yeah, I'm impressed with that. Thank you I tell my parents that and they're so proud of me. Really. Mm-hmm. I said that to my mom

I said mom our last episode was number five in the world. She says oh, I'm so proud of you sanny I really want to meet your mom. She sounds awesome. She's adorable better than yours. Oh definitely

How did she create you though? What went wrong because she sounds so sweet and supportive and nice and then There's you I maybe credit that to my dad Thanks john's dad You got it no problem mex piers 100 sat's no message under there is it's on the next page the signal is strong

This is the way this is the way and now we're going to do pleb minor monthly action news

And now This episode's play minor monthly action news is brought to you by the lake satoshi bitcoin beach retreat The lake satoshi bitcoin retreat for this year is about freedom

Freedom in bitcoin you attend that event you can see the grass roots expression of bitcoin freedom on display in a wide variety of mediums From point of sale systems, which I think is very important Once we get those point of sale systems I can go to a little market or cafe and say please take my bitcoin two minor dehydrators

You'll hear from l salva door and plebs as they exclaim the freedom hope and opportunity bitcoin is providing to the people of that nation The lake satoshi bitcoin beach retreat event is about supporting projects And projects like bitcoin beach hope house casa esperanza where they empower young leaders using education and technology

Recreation spirituality and community support me per emir bitcoin where they teach al salvadoreans in partial bitcoin education as quickly as possible Uh to attend the event. It's a 21 dollar donation But once you look into some of the el salvadore projects that the lake satoshi beach retreat is intended to support

You're probably going to want to donate a bit more They're also in need of cell phones to help the kids there and el salvadore It's like um, you know if you're 11th and 12th grade and el salvadore you probably have a cell phone

So you can participate in bitcoin, but the lake satoshi beach retreat folks are asking if you're coming to the retreat and you have some kind of You know spare burner cell phone something that a wallet can be installed upon

Please bring it to the event and perhaps donate to the kids and el salvadore there at the event you can see the bonds being created In michigan the friendships the collaboration on projects from michigan to al salvadore And there is a special speaker which we can't really talk about yet, but um, you can hear the ugly truth

Of one man's journey in early bitcoin and and that's all i'm going to say You got me wondering now. Yeah, I was wondering quite bad and then when I sort of found out The just sort of it's super intriguing So it's not just barbeque in parties. It's education. You're going to hear impactful stories of

Joy and progress and greatness with the kids in el salvadore and the education that's going on down there But also some of the ugly truths of bitcoin and and why so many bitcoiners remain anonymous Okay Moving on to uh pleb mine a monthly action news And we're going to kind of whiz through some of these things mainly because the nico smid

Market upstate of the market update is a really long one, but first thing I want to let everybody know about Is the brain's bcb 100 control board? We reported on a few episodes back if you ordered that border they sent out a email recently that said it will be slightly delayed

I guess they went into the manufacturer and they figured out some ways that it could possibly be better And so they are adjusting the boards accordingly. So check your email if you ordered one of those boards It's going to be a little bit of a delay max. I got a piss Gang gang slurp sub-slip Yo

Yes, yes, yes, that's what it sounds like when you're pissing. There's a really it's weird Too big just on repeat moving on to the nico smid sub stack. That's nico smid's bitcoin mining block post nico smid Ad.substack.com he has a fantastic post and um, I just want to say before we move on to this

If you're not subscribing to nico smid's and base loads sub-stacks, you're so your fucking life out Fuckin idiot. This is free signal. Weister. Yeah Free signal. This is not some kind of oh, I have to pay to subscribe to this great genius article writer

They do these guys do this shit for free. Yeah, and you can't even be bothered to follow it Pathetic motherfuckers your parents are very ashamed. Yeah, john's mom's ashamed. She is. Oh, how could you just like what are you fucking?

Loser says nice and nice. She's like, I'm so disappointed in you. Yeah, you did a little bitch My mom is from the hood and Pittsburgh. She's gangsta. Don't fuck with she will turn that right back around on you Yeah, all that niceness. She's suppressed inner city Pittsburgh for many years

She bust that shit right out the five foot two Irish maniac All right stay to the market First half of 2023 and he says this is the first six months of the year in 20 charts So let's whiz right through them. All right. We're gonna go over Bitcoin price network hash rate difficulty adjustment hash price hash value transaction

Transaction fees is presented as a blockboard minor revenue asic prices network hash rate by asics pool distribution News highlights and must listen podcasts, which of course probably includes blood minor monthly Bitcoin price. He says for the first six months of the year. We were very bullish for bitcoin

Price rose 84 for the mid $16,000 level in January to a high of 31,400 in june June saw the highest monthly close in 13 months currently bitcoin is sitting above the 50 s ma on the monthly time frame A two-year moving average multiplier chart can be used to indicate whether the price of bitcoin today is at levels that are historically low

Which from the green zone high in the red zones or neutral? He says it's a useful tool for bitcoin price prediction as investors can understand on historically relative Basis whether bitcoin is currently over or undervalued looking at the charts below You can see that bitcoin is still undervalued

But about to go in a neutral territory if history is an indication half one of 2023 was a good time to accumulate bitcoin Can't describe that Looking at the seven-day moving average. We're gonna skip over that because we have already gone over the seven-day moving average

But he says in 2022 there were two major capitulation phases in january of this year the 30-day moving average across the 60-day moving average Breaking out of minor capitulation both moving averages have risen steadily throughout 2023 and did not cross over again

The difficulty adjustment we've had 14 difficulty adjustments so far in the first half of the year 10 were upward and four were downward So you have to hold on to those downward adjustments with dear life They're very important to you and I I guess obviously pretty rare in the first half of the year

This year started at a difficulty level of 34 trillion epoch 395 printed an all-time high of 53.35 I forget we were at max when we read our statistics I mean it was like something like 56, but he says difficulty increased 48.6 percent this year as of when this article was written That's an oof hash price

He said it was stable during the first six bonds of 2023 and I can't disagree with them there Well, there's nothing to disagree with his just straight up facts the greater part of the year hash price range from

6.2 cents per tera hash per day to 8.5 cents per tera hash per day bitcoin price and the network difficulty increased kept hash price in balance The spike in transaction fees due to the ordinal inscription craze in may as we've covered

It was the only time hash price broke out of this range and of course what were you during during that time max? fuckle Yeah hash value Due to the increase in difficulty. There was a steady decrease in hash value The amount of sats per tera hash per day dropped from 374 to 255 And we were even below that right now

It declined of 119 sats per tera hash per day or 32 percent The amount of bitcoin that one exa hash of operating hash rate should produce in a day in a month dropped below three bitcoin in march Even the spike in transaction fees in may could not push it back above that level This is all doom and gloom. Are you depressed yet?

a bit Transactions we've we've covered that extensively In may 7th 8th. They were super good same thing with transactions as a presented block award But let's talk about minor revenue because without revenue we can't Continue to mine. No matter how long your runway is six months two years

I don't know the total value in usd of block rewards and transaction fees paid to minors in half one of 2023 Followed the increase in bitcoin price closely correlation broke for a few weeks due to the high transaction fees

Minor revenue started the year at 16 million but hasn't been able to break the 29 million dollar level in a sustained way Asic prices some people think they've bottomed out But they who knows what that will be read at the beginning of the show Maybe there's due to bottom out a little bit more. What do you think?

I'm going to default to kaboomracks Alex on that one and he thinks before the next having that they're going to dip lower Oh, okay Not long then in his examination That's what he says. I don't know I just default to people that think about that kind of stuff all the time

But nico smid's analysis above 60 angel preteris machines hardly moved 38 to 60 angels preterra hash asics dropped from 9.91 per terra hash to eight dollars and two cents per terra hash The more efficient machines 25 to 28 went from 33 or 14 dollars and 33 cents per terra hash to 14 dollars and 80 cents

These new gen machines did rise to 16 dollars and 57 cents per terra hash and april But declined again in the weeks after and the newest newest gen machines those are a 600 25 joules per terra hash they Were at 34 dollars and 76 cents per terra hash at the beginning of the year and dropped to 19 dollars and 32 cents per terra hash

The main reason for this 41 percent drop is that these most efficient machines are now widely available So no exclusivity there you can get your hands on them if you want to Network hash rate by asic so what machine is contributing?

All of the hashing power here and he says bit main is the most dominant player with around 80 percent of the market share Yes, 19 and s 19 j pro series of bit main are most popular. Do you think that's just because the firm way Oh I don't know could be I

Think you know you got to look at like rack space and how some of these things are designed some of them are designed specifically for bit main Price what's miners are more expensive. So if a large institutional miners just getting a better price per machine. Sure. Yeah, you know

That's that's the stuff that they look at. Yeah pool distribution All right, so this is something that's important to To have a look at the fact that foundry is just so damn dominant and it kind of pisses you off You want to say to yourself? Why doesn't everybody go to lincoln?

Except that they do. Yeah, they should keep on moving over despite foundries starting to charge clients for their pool The u.s. Base mining pool gain market share in half one of 2023 other winners of the first part of this year are mara pool and luxor

BTC.com brains and pool in saw decline in the percentage of network hash rates sent their way But we know a pool that had increased hash rate and that of course is lincoln and that wraps it up for the Niko smid sub stack you'd see why I wanted to rush through these statistics because this is statistics heavy

So thank you very much Niko for continuing to educate the public on the bitcoin mining industry in my opinion Nobody does it better. Yeah, thank you Niko It's not really lights that beginning bit where you sounded like you're in an auction house. You really rattled it off

You like that? Yeah, it's really good. I like it. I'd like to move on to our base load update

It's everybody just calmed down from the Niko smid update just take it in The base load update it's a little more smooth That's bitcoin base load dot sub stack dot com Bitcoin base load likes to start off the sub stack with a bunch of electricity

and energy pricing And it goes over temperature and weather Because that's very important for the energy marketplace my yeah, man Just bring it. Just yeah, that's better And he gets into the legend because we don't like acronym violations Let's you know that f stands for Fahrenheit l y stands for last year mwh is megawatt hour

Let's talk about the weather max Hmm base load says here we go It's certainly hot in some places of the world. It's been over 100 degrees Fahrenheit in Texas for close to four weeks At the high death valley hit 122 Fahrenheit highest on record there Phoenix has been 19 consecutive days of 110 Or more

And at the Persian Gulf international airport the heat index reached 152 degrees Fahrenheit Okay, climate enthusiasts would like you to believe that this is just the end of the world But remember folks hell has to freeze over And it's already hot

One can argue that there really isn't any significant change to the weather predictions that have been given in the past winter for this summer It's still not terrible in Approximately 33 states regarding temperature. I can attest for Pennsylvania. It's been pretty cool here

But hey, everyone talks about the weather. So now everyone is talking about it El Nino is still in full effect and it really is wet in some areas of the United States, which is good in helping droughts Texas drought is becoming a noticeable thing. So keep your eyes on that. However rain will intensify as we get into the fall

Leaving the u.s. Wet and mild not wild looking at the sixth to 10 day and 18 to 14 days It's pretty red orange slightly yellow color and all the way into August 2nd 2023 rain seems to mirror what the jet streams look like with the El Nino weather pattern Everybody chill out He says also now we will have a look at hurricanes

Friendly reminder that sure things are happening with temperature. However, we as humans cannot control the weather. Therefore All humans including me have the wrong answer Insightful glad we're bringing it down It's nice isn't it?

Why is the music playing in the background? This guy is named something Wong It's not a long it's wrong How pathetic a way with our shit that jokes that is Yeah, sad Based load us some market and tell He said he was able to have some conversations this week about residential demand response for electricity

As you can tell I don't speak about residential load types often. However, and he doesn't the residential demand response programs that are offered in some markets across the US intrigue me think about 80 million watts annually in one distribution network performing and responding to demand in the comfort of your own home

Also now think about the requirements set for To even enroll yourself in that program if it exists I think about when a utility in Boulder, Colorado was offering electric vehicles to customers basically for free to test the concept of EV and EV charging I say this because when utilities start implementing programs

It's mostly because they need the demand consumer to help with their distribution network and thus utilities Will give a little and I mean a little back to the rate payer On the note of EVs I saw an article that I shall describe some independent system operators are experiencing a power deficit

Due to electrification including New York City If you can recall he had written this transmission line going from Canada into New York City Of which the electrons flowing through those wires are from renewable generation Why don't folks understand when you electrify everything that doesn't require more electric generation?

To meet new times of demand If you want this You need to turn up the base Pricing for any of these electricity commodities in the middle of summer has been a wreck Folks can seem to understand that forward curves are affected by market conditions in the problem

Liquidity and trade can happen as they always will. It's just who's buying and selling Bid offer and ask offer are certainly two separate things Finally take a look at the batteries article and long the volatility So some so smooth base load He continues his article goes over electricity natural gas and liquid natural gas

Max, I like what he said there about residential demand response programs because that's something that's usually not offered How rare is that it's um It's not that rare and we actually know somebody who who knows about participating in residential demand response programs And that is mining misfit Because he's familiar

Given what he does for a living with an energy provider that has installed disconnects between customers air conditioners and their panel So when that organization wants to do demand response on residential level, they just shut everybody's air conditioner sounds uh Toasty it does sound toasty, but hopefully they do it at night

That was our bitcoin base load chill Time Thank you base load for that update that's bitcoin base load. That's sub stack dot com We're going to kind of old school here. Um, we got our main contributors nico smid base load and The bar miner has a public service announcement. He says when you unbox new m50s with firmware version

0508 dot 1 8 dot r e l you must change the server password before enabling api And then to download the latest what's miner tool version 8 0.1 0.3 8 And this is required in order to enable the api to use farm management tools like link coin agent synergies

Why uh why particularly the new m50 Oh, I don't know, you know, uh, another guy in the group brad cutty At chola mining had said that we've always needed to change the password to enable an api And the reason that of course you'd need to change the password because if you're enabling some sort of uh

Remote login you don't want your remote login to be root root or admin password for obvious security reasons But bar miner had just unpacked a whole bunch of m50s and they were setting him up in the farm and he's like oh shit Ah, that's why can't enable api didn't change the fucking password

So being a good guy and sharing his uh intellectual capital and his experiential capital with the group to improve his social capital And improve our overall cultural capital bar miner put out that's public service announcement And we're going kind of long. I think we'll end it there that has been pleb miner monthly action news

This episode's pleb miner in the wild is sponsored to you by fix rigs our pleb miner in the wild this episode Maximilian von Bittenstein is erin hall of sundog mining and when you get a mining operation like that

Sometimes they break and if they break, what should you do? You're gonna need to fix the rigs You're gonna want to go to fix rigs to fix your rigs You're gonna want to send it out to them and then they're gonna let you know what's wrong with it They're gonna give you a quote. They will come right back as soon as you pay them

I think it's like a day or two the postage something like that. It's very fast And you can get hashing again. There you go Fix rigs fix rigs fix rigs Fix rigs Mmm fix rig so good slurp slurp fix rig replace hashboard replace hashboard temperature sensor temperature sensor It's so Fucking retarded

Not believe we've been doing this for an hour and a half. Oh, yeah Uh, did you know what's not retarded is the fix rigs team totally not retarded Can't confirm fix rigs generally are so good Yes, yes Yes Send your machine to fix rigs. That's fix rigs calm

At fix rigs on twitter They have a youtube channel if you want to see somebody go over what a hashboard looks like and the flow of electricity Through the chips on the hashboard they'll show you they're pretty open and honest You know something that fix rigs is never going to do when you get your machine back

The fans are all going to be pointed in the right direction. That's when you know you got a you got a real Shithead type repair facility They put both fans blowing in both sets of fans blowing in or both sets of fans blowing out So if you have them both blowing in you just really melt things

Yeah, damn things just going to turn off eventually brilliant Yeah, fix rigs will never do that. They're a professional operation and like you mentioned before max Uh, it's going to be a quick turnaround. So even if you are a North Dakota miner like erin hall

The logistics is so good that it could make sense for you to ship your machines from that distant place Out west to beautiful miami florida. Why is logistics so good logistics so good It's so good because I keep saying it over and over logistics so good. That's so good. It's so good There must be

No, it is team doing just to make it so good. They have a logistics expert On hand one of the founders of fix rigs worked for a large logistics company Pretty high up. So they know what they're doing when it comes to shipping and receiving You know how to move shit around. Yeah. Yeah, you can fix rigs all day

But if you can't get them back and forth what good is it to you good point And now our pleb minor in the wild erin hall of sundog mining This episode's pleb minor in the wild is erin hall of sundog mining in grandforks north dakota

erin has a unique background as a law enforcement officer a small business owner and now a mine owner operator Welcome to pleb minor in the wild erin. Hey, thanks job. Hey, I'd like your your backstory. You grew up on a reservation That's very interesting to me. Uh, I know that's not an easy life

Can you kind of tell me about what it's like growing up in a reservation and and how you got out of there? Yeah, I mean so I grew up in the on the kawavil Indian reservation and omak and okanagan You know that area will kind of resonate with a lot of Miners just because like when nachi it's a huge amount of damn energy

And like it was kind of the landing point for mining in the united states You know a group in section 8 housing You know, I you know my mother was disabled. I don't know any brothers or sisters. She died when I was real young Uh getting out was education. Uh, you know, so I dropped out of high school as a freshman uh, I

Kind of was on my own. I got my geb and I Do you know what a chevy celebrity is john? I do know what that vehicle is. Yeah, that's It's like chevy's version of the dodge k-car Yeah, yeah, literally like they rolled off the the showroom floor with like chipping paint and rust, you know uh

So I jumped in my chevy celebrity that I inherited and I was accepted into University of North Dakota And you know, I drove across the country with all my stuff in a car and I just like, you know Hung out at the gym Shoured, you know hung out the library when it's cold, you know made my way through

You know, and I made it all the way to law school before I you know I wanted something a little more active and hands-on and I you know stupidly joined law enforcement Should have stuck with law school buddy John like i'm a i'm a slow learner. All right. I hear you You know I did it for, you know

Seven years and I wanted to give back to my community and that just wasn't the way right And so I ended up starting a business. Uh, what we do now is we do Case management for people transitioning out of prison or they're suffering to health and addiction

You know, so we help them find jobs housing, you know kind of just uh support right in recovery And that's my small business background, you know, kind of segwayed into mining So instead of enforcing the man's laws you you're helping people Deal with the laws and dealing with their experience with law enforcement so that that is

Well, it's based on statistics, right? Uh, now this is a rabbit hole for me the man's laws are not effective

I would switch I switched to something that was effective. Yes, that that was the idea And i'll leave it at that because man we could go rounds on that one. I think Yeah, that maybe that's uh a possible topic for For a future show for sure. Absolutely because you know bitcoin is just the the primer for a lot of these conversations

Hey, do you like bitcoin? Yes, I do. Okay. Let's start talking about, you know, libertarian ideals or I used bitcoin to buy a sober house and my not for for females the recovering from addiction Wow, that's a great goal. That's the proper use case for selling your your coin

You know, you run into a true bitcoin or when they're like, well, you know, if you got to sell it at least it's for that, right? Yeah, right I'm gonna sell my bitcoin and buy a cow or a greenhouse or something like that or a halfway house for Advanced women be grudging conversation of like, well, you had to sell man, you know So

Your police officer then you become a small business owner and after that you meet your partner zach How did you guys meet? How did you guys decide to transition from the idea of hey? I like I like bitcoin you like bitcoin too. Let's start mining bitcoin together Well, so zach is like Super nosy, right? And he started no, I know the time

He started the grand forks reality arcade and this was before covid Right and he would just come into my office because we were in this kind of old rundown mall and my office was like way down Around the corner and there's always somebody in there So, you know, he would come in

And you know kind of shoot the shit if you will and tell him cop stories and entertain him and he would look at my electricity bills And the the electricity bills he's like, oh man, you guys got low rates here We should mine bitcoin and i'm going, you know, what is that?

And he tells me the story about he's been mining in his dad's closet since he was 14 You know he talked his dad to put in a 200 amp panel in his closet On his dad's a good dad. Yeah, his dad you would have to meet his dad But his dad's like salt of the earth people like you'd be like man if your kid asked yet

But get out of here with a 200 amp panel in your closet And we just kind of went from there And you know, we started asking questions, you know to our local co-ops and you know the local the local Rep's and it just kind of grew from there. They're very acronym violation, sir

Rep. I apologize. I have retail energy provider. So main core power was very, you know Helpful in the economic development process of these two guys who You know, essentially kind of had their hat in their hands And wanting to start a business That reminds me of jeff hoe's story

Very similar you guys and I know you two know each other and and you you share different secrets and Trade skills and whatnot But jeff same thing small business owner and did something very similar I don't know if I describe it hat in hand But he sent emails out to a lot of the local co-ops and you know doing what I say

Shaking babies and kissing hands kind of things and it sounds like you did the same thing. How do you start that conversation with a local co-op? What's what you're open? Uh, well, we originally just asked Hey, can we get 30 megawatts and they laugh Come on. Can't you just judge it up for the podcast here Sure sure sure. I mean

Originally, so what happened is, you know, we asked for kind of, you know a middle of the road that we felt We could grow into over a couple years, right? And they're very interested at the time. This was like 2018 Um in this kind of load and everybody at that time as you know

Was not from here was not local and was asking for like 450 gigawatts So yeah, if I could just uh inform the audience the uh, you know, north dakota has A lot of energy. Uh, it's a boom state in a way, especially after the the discovery of the the boc and shale and three forks

Formations there. It's kind of like the the Saudi Arabia of of the west you could look at it in a way And I know Montana has dealt with the same thing Um, this is a lot a lot of outsiders coming in and saying hey, you're rich in natural resources We want to do something and here my hand my my pockets are open

Yep, and you know, I'll take that one step further. John is its egg egg related to so agriculture here So it's you're rich in natural resources. Okay, and I think you know the first locals It kind of resonated with them And you know, we eventually got a warm hand off to the economic development commission here in grandforks

You know and they they got us together with a couple of different funds You know north dakota has some very unique ability to layer funds and you know That's just essentially how we got started is through you know the jda and which would be the joint development

Administration, which is just essentially a bunch of like small rural community economic development corporations kind of band together and which to fund bigger projects So like it was our community who got us started. I just want to touch on this real quick

We've had this conversation before in our different telegram groups that people like to make fun of Dennis Porter, and we all kind of there's a lot of inside jokes there You know, but reaching out to the local politicians the local community

Seeing what funds you can get everybody wants to think they're an anarcho capitalist and they're going to just do this completely off grid On their own. I don't need any investment money. I don't need the community. I don't need the state I don't need the government. Well, okay. Well, maybe you you don't need them

But it is good to at least play nice and see what is available for you because how else would you have gotten off the ground These aren't well, you know entrenched venture capital money Selling it, you know, so you can be that, you know, anarchist in capital and these are loans, you know These are loans

By your community to use community resources to create jobs that you're going to pay back, you know So like it's not as quite as down into the public funding You know realm as you would say a public money run or you know big tranches of debt Um, it's a little bit more forgiving than that

So your advice dealing with the co-ops or dealing with the local community Just be honest just come up and tell them exactly what you're looking for or what you want to do Yeah, yeah, I mean don't be scared to ask for help Don't be scared to go to your your economic development commission your edc and be like, hey

This is what I want to do. Mm-hmm. You know, I would I would also say be realistic too Right. So, you know, we're gonna we're gonna agree that you know, the the realist like we're not gonna walk in and build out a hundred megawatts Right, but we may build out five

We may build out five. We may have you know, let's say we're gonna buy a couple containers We're gonna put a couple containers down and then we're gonna have room to expand for five This isn't a huge ask for anybody right and it's a little bit more realistic and you know has the ability to I guess

There's no failure to launch here right like high confidence. This is gonna work out I imagine for those county commissioners or the people that are in charge of different out that money or the local co-op They can conceptualize five megawatts worth of bitcoin mining

You basically hey, this is you know, they can conceptualize a lot easier than Uh a giant 20 megawatt data center. They say the hell this is basically about two two containers It's filled full these machines. It makes this much noise. It creates this much heat. It's the here's the footprint of it

Yeah, I feel I have to imagine that's more tangible for them You know, there's a lot that's happened in the in the last five years since we went and asked right does You know, these these guys in the areas that are rich in natural resources like energy They know what this looks like now

You know, there's not quite as much education when we got started. There was a lot of education and you know, quite honestly We were I mean escorted from banks as being crazy Like you guys you guys are nuts. They weren't wrong Well, I mean sure and so, you know, here we were getting escorted out of these banks and saying, hey, no

We're not interested. This is nuts, right? You guys are in the weeds so we were in the weeds and You would have These bank managers. This is not interested and then one day it just changed overnight Well, what happened?

Well, core walked in course walked in with a billion dollars and said hey, we're gonna do x y and z and it was exactly what we had proposed Except just on like a mega huge Wow In the same town. So it's actually kind of a funny part of grand forks is we're we're one of the few towns That has more than one minor

So in in grand forks north dakota. There's core There's uh northern data and then there's sundub and there's actually uh musk mining who does being oh, yeah, I know them Yeah, yeah, so so he's in town as well Then that's I mean if you town for for bitcoin mining So you talked about education

Let's let's educate the listeners because I think we have a broad audience You know and it's not just a mining audience as well because a bit by bit kind of appeals to a lot of different bick corners But you know the fusion of privacy permaculture type folks and in mining folks have a number of different shows on max is

Bit by bit radio network as I keep calling it Um, what is a substation? Maybe we could define that and why would it be advantageous for an electricity provider to let you Use some of the available electricity at a substation

Well, so the the first part of that is just substations is anywhere where you step down transmission voltage electricity, right? It's just where your transformers sit. Mm-hmm when you talk about transmission level voltages You talk about line loss, right? We cannot send electricity. It's just physics the lines create resistance

So we have to send at higher and higher voltages the substations where we step that down to something that's usable That doesn't you know blow your panel doors off Why is it advantageous? I would say it's all got to do with being a load modifying resource I'm in northern MISO and I try not to do a acronym violation here. So we're an lmor

Okay, which is a load modifying resource and it just means that you know We're a off taker that is super flexible and when there's a ton of generation on grid We buy and when there's not enough dispatchable generation to meet demand we turn off

So you've probably heard that as controllable load resource in texas, you know, that's what we do And that's the huge advantageous side of that. Now, uh, you know the The theory in which they build these substations is when they build them, you know, these substation transformers last 100 years So they always build by a little bit

So if they build the substation on the south side of grand fork say they're gonna plan for residential expansion However, that's kind of got, you know this horizon that it's not all captured right away So now we have them the ability without expanding any infrastructure aid to construction We can capture that and then you know

Hypothetically if they need it later, they can move us if that answers your question that does answer my questionnaire and thank you very much, sir What are you looking for when you're you're scoping out substations or you're scoping out land around substations?

What characteristics are you looking for to make you go? Hey, let's let's pull the trigger on this one or let let's continue our research Um, the the big one is, you know, what level is the voltage at?

So we look at like a distribution level voltage. So what we don't want to do is step it down twice Mm-hmm, so we don't want to step it from transmission to distro and distro to our transformers It gets really expensive. You gotta buy disconnects and all the you know the good you gotta build a substation

So we're looking at distro voltages. I'm looking at kind of like an in open bay So like one of the bays on the on the substation is open and ready for use They're typically around 10 megs and then we like rural we like it to be in the middle of nowhere

Mm-hmm. You know air mining's loud. I would argue and say immersion and hydro is also loud anytime You have fans that goes to show our p.m. Hey dry coolers are not quiet Yes, yeah, you're just concentrating where the noise is Right, and you know, there's another thing about the noise is it's a different frequency so

Even if it is the same decibel rating as the background noise, it's like a mosquito You're always going to identify it and people it's gonna piss people off So yeah, we just kind of try a in the middle of nowhere, you know, that's where we want to be You know, I'm out in a field that cyber hornet sound does not make people happy 100%

What are you looking for in a container? I mean obviously these machines have to be housed somewhere What container characteristics do you like? Well, I like It's got to have good containment, you know, one of the things we've found in containment, you know, when I say containment I mean a hot cold aisle separation

A pressure barrier and you know a lot of guys use polycarbonate And we've found that there is a significant difference like actual between CNC cut steel and polycarbonate So they'll say, you know that I've seen guys and I'm not going to name drop him

But if he's listening, he'll know I've seen guys being Walmart cut up pool noodles, you know hammering there There is a no for real This was kind of a I believed you it doesn't mean I can't laugh This was a conversation where he's in walmart. He's going I need something to put in there when we're just like brainstorming, right?

But there is a noticeable difference between like your CNC cut steel or tin and or polycarbonate so Containment's a big one and then you know, you're airflow and in you know, any minor anywhere it's going to know about CFM And you know, whether it's positive or negative So where is that fan? Is it on the hot aisle?

Is it exposed to the heat or is it pushing air from the positive sides to the intake side? And then the last one is like your code compliance So for us, you know, we You know national electric code says it's subject to jurisdiction So no matter what they put in there, it's really the purview of the local inspector

Well, as you mentioned the oil boom north Dakota has some of the finest electrical inspectors In in the country Because of the oil boom because oil showed up Did whatever it wanted and they kind of had this huge backlash where like hey, we have to have out of state skid permits

These have it was the same way in in western pencevania, you know, wildcatters were coming in doing crazy shit You know, and that's when the EPA stuff started the trigger and rightfully so Absolutely, you know, so that's the other one is code compliance

Because I will tell you there is a far cry between, you know, minnesota and texas texas is kind of uh, you know yolo state, you know, come to me mining Burn it all right in minnesota, you know, i've done studies for predatory birds Yeah, long the long owl bats

What classifies nesting, you know, these are conversations. I never thought I would have Um, so so compliance was a big one as well. And I like that though come to texas the yolo state You know, there's a sign somewhere. Oh my god. There's gotta be I want to add one thing too, you know, I've deployed a lot of containers around the world

That's you know, something that I did in the marine corps on deployment All of your telecom stuff is in some sort of container, you know, we're we're kind of old school in this container deployment thing

And i've seen how those are built and how we'll we'll take an lvs and pluck it up and put it on an airplane and then drop it off or put it on a boat You know, these these things take a lot of abuse and I can imagine that it's the same way with your strategy in a substation Like, okay, well the substation is now starting to fill up

Well, the residential was built and we really don't have that much spare and then you and your partner say, okay Let's pluck this container up and move it somewhere else and you don't want the thing all bent up and destroyed Uh, if it needs to get moved once or twice Well, I mean and it's got to get there too

Right, so like, you know, we're not like if we're rural You know, we're not and just On major, you know railroad ties or like it's got to get there Which you know So you want something a little more durable as well, you know, and we haven't ran into you've we've got to move just yet I think that's kind of a, you know, big coins

Much shorter of a game than when you talk to energy, you know, they're planning 20 30 years out Sure, and we're trying to Five, you know, so it aligns real well when it comes to moving and i've seen I just want to touch on this real quick Uh, i've seen kind of this trend in economic development that

You know, they're they're kind of becoming uh, I guess adverse to containers because the narrative is they can be moved Right and ideally when you put these things down The to be moved is like a five or ten year window. It's not like hey, I don't like it next month I'm gonna move

So, you know, I think that going into any you know, anybody that's listening just make sure that that's kind of On the forefront of their mind when they talk to the economic developers as part of the education processes It's not something you want like can you sure it's not cheap or easy?

Yeah, you don't want to I I guess blow smoke up their ass and say oh, yeah, we can just pluck this thing out at any time No problem. Well, you know, and i've heard about, you know, some farms talking about how they're just gonna buy all their transformers on trucks

And not even take them off the trucks and and just you know send that kind of you know That kind of thing is that that UL approved Just having a transformative truck I imagine it is they you know, they've got we've got substation bypass trucks. It's essentially yeah sure sure You talk about being in a rural environment

You know, I I guess the big advantage there is is you don't have nosy neighbors complaining about cyber hornet noise But in our conversation before we press record you talked about the relationship between bitcoin mining and agriculture And that's a popular topic that we have here on the podcast

Give me your view about the relationship between bitcoin mining and agriculture. I mean, I wish there was more You know, and I think you would have a lot more I guess robust of a of kind of a You know, they would circle the the wagons around you've kind of meeting at your local edc's if there was this industry that existed because

You know ag load Yet to the utility providers are really really good load three months a year And then the other nine months of the year it's not So, you know when you're when you're corn dryers or you know up here we do sugar beats when those sugar beat dryers are running

That's a lot of electricity. Mm-hmm. But then now you have the the infrastructure all year is not utilized And right now, you know bitcoin mining is adverse to downtime But I would like to see like the use case of like hey, not only are we using this otherwise, you know

Nonutilized infrastructure, but we are also, you know use case for waste heat like we're we're drying the beats with miners. Yeah At an industrial scale That's the disconnect there currently at industrial scale that that's what we all need to work a little bit harder getting to

And you know, that's kind of my that's kind of my attraction to the the pleb community is you know, we've got so many huge industrial like You know fiat miners. Yeah, you know publicly traded pubco's at hundreds of megawatts a piece And nobody's none of them are really utilizing I would say the use case for bitcoin mining

In any way shape or form the plebs are doing that like it's their your plebs that are you know Using miners to heat their shop or you know what i'm saying in a way because we have to we don't really have access to Sub seven eight cent power. Yeah, there's there's no choice

Sure, but you know, I would argue that you know with a little help or a little EDC You you could have sub seven or eight setting energy there's a there's a lot of you know, there's a lot of caveats to that and energy is this like endless rabbit hole for me. I'm like a rank and file amateur Um at on the best day

um, but the most the more I learn about it the more i'm like Super north the code and about it, right? Super local like, you know, we need to utilize this top to bottom And we need to let bitcoin and bitcoin mining, you know develop I guess use cases in inefficiencies Top to bottom and I feel that it's happening. I do too

Aaron to close things out Sure Where do you see the future of your business? Is this just going to be a rinse and repeat thing for you? Find a substation mine at it or do you see yourself in a few years?

Uh setting something up next to a sugar beat drying facility. Is that realistic to you? Absolutely. So, you know, what brought us here is that we're essentially became like this incubator for ideas Hmm. So, you know, in since then we've started 3d printing We've started a steel fab shop just to you know fabricate things for bitcoin

Wow, right. So are we going to continue to you know, onesie twosy substations? Yeah, we're moving into texas You know, I I inked a deal in odesa Sure, uh, but i'm just i'm equally excited as like the weird in the weeds thing. We're going to create Yeah, that's what i'm really passionate about. So like, you know, do I see us do it?

Yeah, yeah, absolutely. I would love I would love to do that more than just, you know, you're one off You know five or ten megawatts here and there Aaron I'm one of your biggest fans I love what you do. I love how you innovate. I like who you are as a person You know what I mean? You're you're funny

Uh, you're always willing to help in you know, jeff hoe to this telegram group You always have great suggestions and like the other day about why not put the container on on pylons and and anchor it down And instead of you know trying to grade grade the property those kind of lessons

Because you're always trying different things you come up with the mistakes that you've made or innovations that you've you've come up with And you're always willing to share them and that's that's what really excites me about the pleb community Again this this there's a this new industry, right?

There's this is a new industry and in the same kind of helping hand that I had And because you know one step further, you know, it wasn't Five years ago when I when I left my career and was on unemployment, right?

I still it's very fresh in my memory. Yeah, kind of being my own with you know, nothing and I I still feel that with other people and you know, there's a lot of this industry to go around and you know We all benefit when it grows and becomes more substantial

So absolutely if you know that your your plebs want to reach out anybody listening like You know email or call or telegram, you know hit me up happy to help Yeah, I will post the link to your twitter and and telegram and also link to sundog mining Where they can reach out to and if they want to host machines with you. I I assume that

You are open to that as well I didn't come on here to shill. Oh, yeah, we're gonna we'll host you, you know, but It's just more. I'm like, I'm more interested to talk about like You know, I want to meet the the people who want to innovate as well. Yeah Well, erin I really appreciate you being our pleb minor in the wild for this episode

I'm glad through baseload that I that I got to know you and uh, I look forward to to getting to know you better and Potentially maybe working with you someday. We'll talk soon. John. No dad erin. Bye bye later That was a good interview, mate. Hey, thanks, man

You're getting better. Am I getting better? You are getting better. Yeah, you are I have my concerns at the start and things are just progressed And you're just getting smoother and smoother just asking the right questions. You're building that rapport It's really beautiful to watch getting better all the time

Well erin is very easy to interview. He's got a lot to say. He's got a lot of experience in life He's a good guy. We already have a relationship And I just think he's pretty interesting fella. We're some of the interesting parts of the interview for you Well, I liked how front he was for a star

How clear he was about the way that you want to I was gonna say weasel in with the right people But that's not probably the right term, but you know play the game a little bit. I guess Yeah, you know, he was very honest and upfront about that. We're like what he said like just went there with our hats in our hands

It's like can we do this? Hmm. Yeah, just being honest and upfront and not bullshitting and I think that's what people at the end of the day are gonna respect So I liked that about him and he was uh, yeah, not afraid to just say how it is I talk with erin often and I can tell you that that's him. There was no errors

That's the guy right there in the interview. He's one of those people like no matter what you're doing You could probably reach out to him and he would have some advice on on how to set up your operations, especially container mining

And you guys were talking about like how easy or tough it is really to be putting these containers in and it was good He was saying like, you know, you don't really want to be doing it and expecting to be there less than a couple of years

Yes, you're building them containers, but it's not like I'm just gonna up and leave in a couple of months That's not really what you should be thinking about and I made a lot of sense to me I appreciate his insight on all these things from big things like how to get funding and how to set containers to

Small things like where to put your disconnects or like I said in the interview Maybe put your container on peers or pylons For whatever advantage get them off the ground. It's not so much dust perhaps in your cooling because you're you're cooling it from from six sides Just a smart guy thoughtful guy

And uh, I really enjoyed that interview doing it. Yeah, I enjoyed listening Uh, I didn't re-enjoy everything, but I enjoyed listening. Yeah, I don't think you really enjoy editing. Just do it. You're just good at it Yeah, it's like your duty. I'm a master. It's been nice speaking to you and uh

Yeah, we'll probably maybe possibly do it again next month. Good fucking with people. Yeah, soul

We'll be here next month. Yeah, now I'm gonna go and eat some eggs and have a little bit of break Because I've got to speak to this fucking retard again in Half an hour because we're doing another show Yeah, find out stay tuned. Thanks for tuning in

Thanks for tuning in. I've been john d and i've been max. See you next week. Fuckers

Mm-hmm gang gang gang gang gang gang gang gang gang gang gang