Remember the message.
The future is not set.
In this new presentation, it's only four minors.
Only four minors?
Yep , we'll call it only minors.
There we go.
It's like Only Fans, but with minors.
I love it.
Scott loves it.
He thinks I'm so mature.
So family friendly.
Is your mic on?
I think it's on.
You gotta give him more volume.
He's like the boss.
Can we get more volume in Scott's microphone?
The middle microphone was quiet yesterday too, definitely.
Okay.
So, pump up the jam.
Pump up the jam, pump it up.
What are we doing here, John?
So we're talking about Bitcoin mining.
My name is John Taylor from Bitcoin Mining World.
We got a thumbs up that the record light is on.
Hey, my name is John Taylor from the Bitcoin Mining World.
We're just getting started and talking about Bitcoin mining.
Why should we even get into the Bitcoin mining business?
Is it worth it?
Or should I just go buy and hold some Bitcoins?
And just be rich, go to Tahiti, call it a day.
So, make the argument.
I got some money.
I got a little bit of jingle in my ringle here.
And I want to make some more money.
What am I going to do?
Oh, I mean, you gotta look at it from a couple different perspectives.
The first one is, are you willing to deal with the up and downs of trying to trade the market, trying to get into Bitcoin at the right time?
Or are you somebody who wants to earn a passive income on a regular basis?
That's what Bitcoin mining is.
If you buy machines and you set them up, you pay for the infrastructure and the power, you collect Bitcoin every single day when those machines are on.
It doesn't matter what the price of Bitcoin is.
It's basically dollar-cost averaging at all times versus if I've got $100,000, am I going to dump that into Bitcoin right now at Bitcoin's current price?
Am I going to dollar-cost average that in?
Some would say that buying Bitcoin is the best strategy, but I kind of disagree with that.
If you can purchase the land, if you can purchase the infrastructure and the equipment, you have an asset, a physical asset right there.
And then that asset is also bringing in money for you on a daily basis.
Every single day, your dollar-cost averaging into Bitcoin.
So we talked with Brian and we talked with Tim Martinez yesterday, and we talked a little bit about how real estate, it holds its value.
And they had some bad times go down, and they were able to sell their real estate.
And at the end of the day, they walked away with money in their pocket.
And if you're a Bitcoin miner, you can walk away with money in your pocket after selling that real estate and Bitcoin at the end of the day, if that's what you decide to do.
I really like what Tim's doing.
I think it's a great opportunity to diversify your portfolio.
You got a couple different assets on your book.
You have the real estate, you got the Bitcoin.
So Scott, I got $100,000, like Trevor said.
If I just buy a Bitcoin now, it's probably going to go up.
I could probably make a couple grand.
Why should I put that $100,000 into Bitcoin miners?
Is it worth it?
That's a good question.
Yeah, so there's a lot of things you could do with that $100,000, right?
You could buy a Bitcoin, like you said, or you can invest it into infrastructure, containers to put your miners in, all sorts of different things.
But yeah, I mean, there's some pros and cons, right?
You really do have to look at this as a business.
So there are advantages to having things on your books as a business, right?
Assets that depreciate, expenses on your books that can make the profit look a little bit less, so you can keep more of your money as a business or as a business owner.
So yeah, if you're looking at it from an investment standpoint, there's a lot that you could do with your money.
Buying Bitcoin is one option.
But if you're really trying to do this as a business, you can integrate it into maybe your existing brick and mortar business as well to have some other tax advantages.
That's a great point.
I think that's one of the big differences with Bitcoin mining compared to buying and holding Bitcoin.
You talked a little bit about what kind of personality you need to have to be a trader.
It's a different personality type to do that.
It's a full-time job, too.
It's a full-time job.
You might need to have drugs to keep you up all night.
It's all those things.
It's really, really hard and it's stressful.
And not to mention, if you're trading Bitcoin and Bitcoin goes down, let's say 15%, are you able to sleep at night?
My miners are turned on and they're hashing at all times.
I sleep like a baby.
I don't care about the price of Bitcoin.
I'm making Bitcoin either way.
The sweet sound of a Bitcoin miner worrying you to sleep.
I love it.
So the $100,000, we talked a little bit about that.
Besides buying a candy bar, what you could do is you could invest into hosting and get 20 miners.
You could get 15 miners, put them in a location, pay that electric bill.
And I think you talked about the tax implication is really important.
That if you have another business, you can take profits from your other business and rather than paying taxes on them, you can pay electricity.
That money then goes into Bitcoin and that Bitcoin can go into places that are more beneficial for you tax-wise.
Yeah, so there's a lot of different options there, right?
Like you said, you can actually own the mining computers yourself.
You can maybe even put them in a trust, own it as a business.
Everybody does it a little bit differently.
But yeah, we like to talk about the ways to do it as a business.
There's a lot of advantages to that.
But yeah, so earlier you were talking about that $100,000, what can you really do with it?
And you mentioned hosting.
Maybe people don't necessarily understand exactly what hosting is.
So in the data center world, you're talking about maybe co-location or basically somebody else running your computers for you.
So that's definitely an option, right?
Because you can put most of your money into just buying the hash power, buying the actual miners that make the Bitcoin.
Whereas maybe if you use that $100,000 somewhere else, you might have to buy land, like Trevor was saying, or a container, racks, power distribution units, and all sorts of other HVAC gear, right?
So at that point, then you're not able to put as much money towards the actual Bitcoin miners themselves.
You have to pay for all this other infrastructure to run the miners yourself.
So there's different options there in between just buying Bitcoin, getting your miners hosted, building your own mining farm, and expanding from there.
I really do think that hosting is a great opportunity for a lot of people because maybe you live in California, maybe you live in other parts of the world where power prices are $0.25, $0.30 a kilowatt hour, and it's not conducive to actually building a physical mine in your location.
And at that point, you have two options.
You can buy the closest mine in Arizona or New Mexico, but you've got to drive or fly every single time that you need to go service that mine, or you want to take a look at that mine.
So hosting becomes a great opportunity for people because you can host those machines anywhere in the world.
You've got Abundant Mines, you've got SaaS Mining, you have Blockware.
You have so many different hosting providers that you can go with.
Do your research, obviously, that's very important.
But to your point, you don't have to do the education and the R&D to figure out, okay, is this a good site?
Is the power price conducive to what I'm trying to get out of this?
Do I have to deal with HVAC?
Do I have to hire technicians?
Do I have to hire an entire crew to come in here and maintenance and manage this machine and this facility?
No, you literally go and you give this money to a company that is going to buy the machines for you, or you can send them to them for a racking fee.
You get those machines in the building and then you just literally pay the electricity and you collect that Bitcoin on the back end.
And so that's where, you know, when we're talking about the passive investment, that's definitely a good option for that.
If you're not really a DIYer, you know, you don't want to really get your hands dirty.
There's more white glove services out there that can handle it.
And we offer a number of different hosting opportunities, whether they're in the States or overseas.
They're fantastic ways to get into the business.
And like you said, it is a little bit more white glove.
So people look at Bitcoin mining as very complicated and it's hard to get into.
Should I take that $100,000 and buy a piece of real estate?
I can wrap my head around what that looks like.
I can be a landlord.
I collect rent.
It's a good investment.
It's common.
Bitcoin is different, though.
If you look at the stock market and you invest into that, it's pretty easy.
But when you start adding all these machines, where hosting kind of bridges that gap, and what that does is it gives you the opportunity to understand what Bitcoin mining is, how it works, and also a profitable starting point.
So if you buy 20 machines, let's just say, and you put them into a hosting facility in one of our great locations in Texas.
We have another one in Ethiopia.
We have some great opportunities with them all over the world.
The machines are there.
They're safe.
They're making Bitcoin.
But then you also have the foundation for your Bitcoin mining company.
If you want to take this to the next level and buy that property, pour the cement slab, hook up the electricity, you already have machines.
You're already started.
Plus, you're going to have that knowledge.
And the best time to get into Bitcoin mining is...
Right now.
Yesterday.
Absolutely .
Why is it the best time to get into Bitcoin mining?
Bitcoin's down.
Let's go over the mindset of when the best time to get in the market.
Right.
Yeah.
I mean, I could start there.
So definitely with Bitcoin, there's a cycle.
Every four years, there's a reward having.
And so that affects the income and the profit level of the miners that you're running.
So right now, there was a recent Bitcoin having in April of 2024.
And so we're on a trajectory right now where maybe there's going to be a really massive bull run.
So the actual mining equipment right now isn't very costly.
It's reasonable pricing out there.
You can buy it.
And if you have decent power prices, you can potentially break even on your investment within a couple or few years.
Let's break that down a little bit.
You talked about a bull run and having and all these complicated things.
In short, Bitcoin has this way of being made.
And it does all these complicated things.
But right now, basically, Bitcoin is down.
It costs more to make a Bitcoin than it does to buy a Bitcoin.
And so the machines and the equipment to make it are really inexpensive.
And nobody buys them when they're inexpensive.
They all buy them when Bitcoin is $95,000 or $105,000, when the machines are the most expensive.
And if anybody knows anything about investing, you buy on the lows and sell on the highs, right?
You could make a living.
Someone could have a really good business if they bought Bitcoin mining machines on the low and then sold them when they're high because there's such a wide margin.
Right.
I mean, we were talking earlier about trading, right?
Trading Bitcoin and how it's almost a full-time job.
You got to almost do drugs to keep you pumped up so you're making the right trades.
It's almost similar with Bitcoin mining equipment.
Yeah, so while everybody else is buying their miners at the top and investing way too much and spending too much on interest, loan payments, you know, maybe when Bitcoin goes down, then they're no longer able to run profitably.
That's usually a good point for somebody who's done their research and come in, you know, being smart, come in, buy up that equipment for cheap and then run it, you know, while everybody else is trying to get out, you're trying to get in.
You hold on for maybe another year or so and ride that wave on the way up and benefit from the upswing.
And speaking of good deals, we do have 234 TeraHash S21s on sale right now, so be sure to talk with any of us after the show.
We'd love to tell you about great opportunities.
They're in the United States.
No tariffs.
They've been liberated.
They're fantastic.
And it's a great opportunity for you to get into the Bitcoin mining business.
Yeah.
Okay.
So what do we got here?
We've used up 11 minutes, right?
That felt like 25 minutes.
Oh, we did.
So we talked about hosting and why it's a good idea to be hosting.
I don't want to host.
I don't want to waste my $100,000 quite yet.
I'm going to hold it, maybe buy some Tesla stock.
How can I get into the Bitcoin mining business?
I think you have some opportunities there, right?
Well, I mean, are you looking to buy a site facility?
I just want to learn about how this works and have the lowest amount of money into it.
So how do you get in?
How do you learn about getting in?
I'll let you take that one.
Okay.
Yeah, there's definitely a lot of different ways you can learn to get into this business.
We have some great educational materials, boot camps that we've put on, a mastermind club that we meet every Friday morning.
And we take a real deep dive into the mechanics of Bitcoin mining and running this as a business.
Yeah, other than that, there's conferences you can attend.
But Trevor actually has a great podcast called the Build a Mine podcast.
Yeah, if you're not quite ready to take the dive into Bitcoin mining, you're interested in it, you're curious, but you're not quite sure.
I mean, education is the next step.
You really need to read the book.
But I'd also argue that that's not quite enough.
You've got to get off zero and you have to learn about the asset class, but you also have to learn about the hardware and the management of the hardware that you're trying to get into.
If you don't want to get into Bitcoin mining, then you don't want to get into Bitcoin mining.
And there's no amount of education that's going to really help you.
I can understand being hesitant about not wanting to dump $100,000 into an unknown asset class.
And if that's the case, then yeah, 100% start with masterminds.
Start with the Build a Mine podcast.
Go to our boot camps.
Come to these events and learn about Bitcoin and mining and give yourself that foundation so that as you start to progress through your journey of becoming an industrial Bitcoin miner, you have the knowledge that is necessary to do this profitably.
I'm not going to sit here and sugarcoat it and say, oh, this is the greatest business in the world.
It's super easy.
It's not.
It's actually quite difficult and very cutthroat at the end of the day.
When you have your revenue streams getting cut in half every four years, and that has nothing to do with other people in your area doing the exact same thing, trying to get the exact same miners.
It has nothing to do with that.
It's just the cyclical nature of Bitcoin.
Every four years, your revenue is cut in half.
That means you have to be twice as efficient in order to stay in the exact same place.
It's a very difficult industry to get into.
Very rewarding.
Very profitable.
It's a lot of fun to be a Bitcoin miner.
It's great to have Bitcoin.
But you really have to understand who you are and do that process to learn about Bitcoin mining in such a way that you set yourself up for the future.
Don't just half-ass it and go into Bitcoin and think, oh, I'm going to be a Bitcoin miner.
There is a way to go about it.
Yeah, and that makes sense.
And talking about education and different ways to get into Bitcoin mining, it also includes community, right?
Like we said, at these conferences, people love to get together and network.
But we've actually taken that online too.
So we've built out some communities on applications like Telegram, Twitter.
On Telegram, we have different niche topics.
You can go there, join and talk about immersion cooling, right?
Data centers and Bitcoin mining farms are cooling their miners in different technologies.
Hydro cooling.
I mean, to that point, Scott, you talk about these Telegram communities.
I've looked through some of the back catalogs on this.
I mean, there is such a wealth of information.
And when you've got, I mean, we have thousands of people in these groups.
Some people who are all over the world doing exactly what they're in that group.
If it's the immersion group, you've got people in immersion containers or immersion mining.
They've been in there for 10 plus years.
And so the amount of knowledge that you can gain just from being a fly on the wall and reading some of these conversations in the Telegram groups is absolutely immense.
You don't necessarily need to go to the events to get that information.
I mean, I could argue that the information is all out there.
We just, you know, through our mastermind and through our virtual conference and our in-person conference and our boot camps, we kind of amalgamate that information in one spot so that you don't necessarily have to go look for it.
And then you can meet us in person.
Right.
And you're talking about, you know, that signal versus noise, right?
Absolutely.
There are some very nice groups on Telegram where you can just focus in and you don't have to be distracted with all the other noise, all the other, you know, whatever is out there.
You can just focus in on whatever particular aspect of Bitcoin mining you're interested in.
Yeah.
And, you know, when you're, let's say, you know, you want to build a Bitcoin mining facility, you're going to run into certain problems.
So there is times when you need mentorship to help walk you through whatever that problem is.
And it's not super easy to just go on, like, Twitter and ask, oh, hey, I've got this problem.
Can I, you know, get some help from the peanut gallery?
It's much better to go to a group of Bitcoin miners who are dedicated to Bitcoin mining, who have been through these scenarios before, and they can help walk you through that exact scenario, give you advice, and, you know, you can start making the right decisions.
At the end of the day, Bitcoin mining world, we, you know, we want to educate the next generation of Bitcoin miners, not necessarily because, you know, oh, we think we're the best at education, but it's like, if we want Bitcoin to succeed, then we need Bitcoin miners that are doing their jobs in the best possible way.
And you mentioned this yesterday.
When you first got into it, like, there was nothing.
Like, you literally had to figure this out, like, from scratch.
And how do you navigate that world?
It's very rocky.
It's very, you know, start and stop and make mistakes here.
You know, screw this up and lose however hundreds of thousands of dollars you've invested into it.
The hard way, yeah.
Yeah, we want to make sure that we can mitigate those, you know, misfortunes, missteps, and we want to make sure that you succeed as a Bitcoin miner.
What do you think, John?
You know, education, community, what are other things we need to be thinking about?
Well, I think you should buy a Bitcoin miner.
Yeah.
We should bring our friend Dan up here and have him bring up a Nano.
And I think we should all own a Bitcoin miner.
And I think that's one of the greatest ways that you can get started is, come on, have a seat, Dan.
They put off heat.
Here, we'll kick Scott out.
Do you need heat?
Do you like to be warm?
Bitcoin miners keep you warm at night.
They keep you warm at night.
But Bitcoin mining used to be, there's a huge barrier to entry.
And now you can buy a small box for a couple hundred dollars.
You can put it in your house.
Your cat will sit next to it, correct, and love it because of the heat.
And there's some great opportunities.
Before we get into all the hype of all the great things that have happened over the past couple months, tell us about what is this little box.
Absolutely.
So this is the Avalon Nano 3.
This is a 4 terahash home mining unit.
Runs about 140 watts, so very negligible power output.
Puts off a little bit of warmth to put under your desk, put in a cold spot in the house.
Runs on Wi-Fi, so you really can put it anywhere.
Plug it in here, plug it in under your desk at work.
Wherever you can pick it up.
And it's got three different power settings as well.
So if you're in a place where you want a little bit of extra warmth on your feet at your desk, you can kick it up into high.
If you want it in the kitchen, you can have it running on kind of a medium or low without impacting any of the heat there.
So this allows you, conveniently and easily, in your home to start stacking Satoshis and store them away for long-term growth.
We're seeing substantial growth in coin over the last 15 years, and that's expected to continue.
Being able to get into something like this for a couple hundred bucks and know that you are investing in your future for a power footprint that you're not even going to notice on your power bill is phenomenal.
So speaking of not noticing it on your power bill, for the people that don't know, can you explain the difference between solo mining and pool mining in just a very broad definition, because I'm trying to take this in a certain direction.
Yeah, absolutely.
So when you're solo mining, you are rigging your device, you're putting in your wallet info, and you are taking the gamble on the Bitcoin block lottery.
So every 10 minutes, a Bitcoin block is delivered and someone wins 3.125 Bitcoin.
When you're in a pool, it's you and 100,000 of your closest friends teaming up to try and get that and then splitting the reward proportionally for what you put in.
When you're solo mining, you're just saying, you know what, YOLO, I'm going to send it.
If I get it, great.
If I don't, it's not a big deal.
With something like this, solo mining, you're warming the house a little bit.
That's nice, that's comfortable.
At 140 watts, you're not going to notice the power bill.
And you may wake up to Christmas morning and be like, just got $250,000, $280,000.
But if you're in a pool with something this small, are you even going to see any Satoshis being rewarded?
You will.
Not a lot.
But you will be stacking some.
And with something like that, pool mining, it's more of a contribute to the decentralization of the network.
Have the product around and it's a conversation piece.
And while the Satoshis you're getting aren't worth a whole lot today, 10 or 15 years down the line, that's still going to have a substantial value as it stacks up.
What is a Satoshi?
The Satoshi is the smallest increment of measurement of a Bitcoin.
How many Satoshis are in a Bitcoin?
I believe that... 100 million?
10 million?
100 million.
That's a great question.
Come on, Dan, you're a Bitcoiner, you should know this.
Yeah, but I have large scale operations.
How much is a Satoshi worth then?
It's worth like a fraction of a penny.
Yes, absolutely.
And so the reason why I wanted to take it this direction is because, okay, this little machine, it puts off a good amount of heat.
I mean, it's not a great amount of heat, but it is a comfort product.
You can put it on your desk, warm your feet, warm your hands, whatever.
But it provides a secondary service.
And so it's like a tiny little space heater that if you're solo mining, you have this opportunity, a very small chance, but it's happened before.
You have an opportunity to get that block.
And I mean, who wouldn't look at three Bitcoin and say, that's significant, that's going to change my life.
And if you really like Bitcoin or Bitcoin mining, you could take that three Bitcoin if you win the block and invest into a bigger operation.
But how often does that happen?
It's like one in a million, right?
Well, I mean, statistically, it's one in something billion.
But statistics and actual reality happen differently.
I mean, if you look at the BitAx, which we've got a couple BitAxes over there, statistically, one will find one every couple of years.
And one found one in June of last year and literally last month.
So I mean, an eight-month difference, they found a block.
And that's a single chip.
This has, what is this, like five chips on it?
More than that.
There's four tera hash in there.
Four tera hash.
Substantially more powerful than a BitAx.
And the other factor to think when you're solo mining is for a couple hundred dollar investments, you are entering a lottery every 10 minutes.
You're getting a lottery ticket every 10 minutes.
So when you look at it that way, plus you're getting the heat comfort space, it's really a no-brainer.
Every house in America should have one of these.
Yeah.
I mean, I don't know who did the numbers, but running the lottery every 10 minutes on this, Bitcoin lottery, is still cheaper than doing the actual lottery every 10 minutes.
You know what I mean?
And there's more of a chance of you winning this lottery than the actual Oregon lottery or the Wisconsin lottery or whatever it is.
Yeah.
I think it's a great opportunity.
Not only you can make a lot of money, you could hit it big.
The odds are better than house odds.
You have some pretty good odds to do it.
But you can learn about Bitcoin mining as a business and learn about pools.
You know, we talked a little bit earlier, what's pools and soul mining.
There's a lot of people out here right now in the audience that have no idea what the hell we're talking about.
And so when you're mining Bitcoin, what you're doing is you're connecting to the network and you're joining the operation of making Bitcoin.
Your machine is hashing.
And so when you're hashing, you can either go on your own and go for broke or you can be part of a pool and be part of something that you collectively are getting a smaller portion of.
And so when you talk about what that does, 4 terahash compared to one of these gigantic companies that's mining Bitcoin, what does 4 terahash mean?
So 4 terahash is about 1 30th to 1 50th of the large enterprise scale miners that go into these facilities.
So one of the things I love about this from a home space is depending on your power rate, you're still looking at generating 10 to 15 cents a day worth of quote unquote profit or probably about 25 cents a day worth of coin.
And you think, well, 25 cents a day, that doesn't really matter much.
However, that's 25 cents a day now.
When we're 10 or 15 years down the line and Bitcoin 10, 12Xs, that 25 cents a day that you're creating now is going to be $2 to $3 a day worth of coin in the future.
And when you can pick that up for a couple hundred bucks and run it for years off of Wi-Fi and have a conversation piece, like I said, it's a complete no-brainer.
So I want to take this down a little bit of an ideological perspective.
So we talked yesterday about how Bitcoin is better money and why the financial system is breaking down.
But the thing about miners is, and this is why we need Bitcoin miners in the space, if we're going to have that better money, if we're going to have gold 2.0 into the future in 50 years, in 100 years, we need somebody to facilitate the transactions and secure the network.
And that's what Bitcoin mining does.
Now there's something to be said about whether or not those miners are centrally located in a large warehouse, in a large industrial facility, or are they decentralized all around the world in all different types of homes, consuming all different types of power.
And decentralization is something that's very important in Bitcoin, and I think that it really matters when it comes to the actual hardware aspect of the machines.
So when you have something like this 4 terahash machine and you have a ton of them and they're easily distributed all around the world, you're able to decentralize that hash rate and everybody who owns one of these, it doesn't matter where you are, whether you're solo mining or mining to a pool,
you're contributing to the global hash rate, which is helping to decentralize that network, it's helping to secure Bitcoin.
And if you believe in Bitcoin, that is ultimately the most important thing, is securing the asset that we believe in.
So whether you want to get into industrial mining or not, buy yourself a small home miner, buy yourself a small lottery miner, because even if you don't hit a block, you are contributing to the global hash rate.
I'm just in it for the money.
But if you want that money, John, I get it.
If you want that money and you want to profit from Bitcoin, you want to secure that Bitcoin, right?
You want to secure the money that you're getting.
There's only one way to do that.
I just want the money.
What happens if someone takes it from you?
No one will take it from me.
You need to be able to secure it and that's what Bitcoin mining does.
I'll hire these guys, they're all really good at security.
But anyways, thank you very much for joining us.
I love the ideas about mining Bitcoin, supporting the network.
I love what you're doing with selling these machines over here.
See Dan right over here at ASICplug.com.
Carl is over there also.
We can help you get into the Bitcoin mining business and secure the Bitcoin network.
Yeah, I like that.
Secure it.
Even if you want to buy it, buy Bitcoin, you should secure Bitcoin as well.
Yes.
And we'll be right back with a new show coming up with Brian Oaks about his journey and what happened with Bitcoin mining and security.