Discussion Panel - "Dear Elon..." Bitcoin Miners Speak

Transcripts are autogenerated. May contain typos.

‍00:02

[Applause] [Music] all right you guys so the topic is dear elon all right hey everyone welcome to the last panel of the day thank you for sticking around and we got a big one come on round of applause uh amazing event so many sponsors wow the mining industry has definitely grown and uh everything was going really really well until a few months ago when elon decided to suddenly announce that tesla is no longer accepting bitcoin for their cars with some really bad information and it definitely affected our industry with

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one single tweet so uh we're gonna save our actual dear elon final statements for the end but let's go real quick and start it off with what do you think drove elon to do that uh to just all of a sudden have his environmental concerns general thoughts as to the reasons well i don't know what drove him i honestly don't have a habit to give of getting into other people's heads yes sorry about that uh but you know honestly i do not see any problem with elon or anybody else expressing his views now the reaction to this use is a

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different story but i doubt that this is a problem with the speaker itself so uh elon said what he wanted to say uh doesn't matter what was the reason whether it was market games and now he wanted to make money in an unregulated industry or he was really concerned with the bitcoin impact on the environment no matter how right or wrong he is there we all know that it's not exactly the fact that he has stated uh but you know he had the rightful right to express himself now why we reacted why the market reacted to that it's a different

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story i think it's a well we we were in a bubble the bubble just blew which is fine but you know i do not know what he was thinking thank you [Laughter] well yeah that is the what's that yeah right uh so just real quick is bruce porter jr the ceo of global boost founder at washington elite uh you know it it hit us all pretty hard right i mean whether you're just hodling or you're trading like when the market crashes like what happened when elon tweeted i mean it hurts so i think personally that uh probably it was either the shareholders

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or what it was somebody told them look we're not accepting bitcoin and and that was kind of that and so and that's what led to it um who knows only probably elon knows and maybe a couple other people why he did what he did he's definitely a big time uh you know pushes the market we've seen it both in the stocks and in crypto he pushes the market how he wants it to go 54 or 58 million followers it's fairly easy for him to do we saw what he did with the dogecoin really unbelievable what he was able to

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do so that's what i think so most people don't realize it but the only reason tesla is profitable as a company is because tesla sells over 400 million dollars in energy credits a quarter so when a company that makes its money by selling renewable energy credits when their ceo comes out and it becomes a big proponent of something that the public views as a huge energy consumer and a carbonizer of the planet and that ceo starts getting telephone calls from investors saying you know we have an esg mandate and here

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you are promoting this thing and it's wrong he decided to not defend his position but rather react and you look at his comments today um and he's just as wishy-washy about his response today even though he's been presented with the data that he said if it's over 50 we'll start taking bitcoin again data was presented to him and he said uh i'll consider it i'm going to jump a little bit off fred what fred said you know i think people misunderstand what tesla's business is it's about

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selling environmental credits and about selling batteries and those are the two things that he does it doesn't matter if it's in a power wall or if it's in a car it's about batteries and environmental credits and what bitcoin does is a complete threat to the tesla business model what we do as bitcoin miners is monetize excess energy which could not otherwise be used the only other way that you can capture that value is with battery technology battery technology is incredibly destructive for the environment it's

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incredibly expensive to build out and deploy and is a complete waste of money but it does not stop governments from spending on this technology it is the only way that you solve the intermittent power problem provided by wind and solar the only other way is bitcoin mining and bitcoin mining does in a much more capital effective way and also does in a way that's less destructive for the environment because we do not do lithium mining cobalt mining and using child slavery in africa to produce these batteries uh and it also does it in a way that's

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very very high return on investment for everybody while providing you know as michael saylor says digital property rights for eight billion people so it is a threat to his core business and you know of course he's going to fight against that but bitcoin does not care and it will crush him under its boot very nice damn good luck following that all right so i think we already hit the nail on the head with the carbon credits and that's where i was going to go but you know what i i thought about too you know financial gain right we don't

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know what he's doing it's unregulated you don't know for all we know tesla sold we'll find out next week when they do their quarterly reports so you know it's really only up to him but if he's going to bash on something being not green uh just for a little fun fact each spacex rocket launch says two to three hundred metric tons of carbon dioxide i want to talk about something bad for the environment like you know but uh yeah you guys killed it so almost kind of i think the rest of the panelists have

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pretty much covered on all the bases as well um i think our my personal beef is is just uh i think when you're a high profile person like musk or like like mark cuban you got to be a little bit more responsible when you say things than how you say them um let's be honest you know you affect industries and you you affect lifestyles you you you you affect people's business so i i think that's my biggest problem i think you got to be a little bit more responsible with the way that you present uh your

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opinions on certain sectors um i also believe that there is more more behind this um don't be surprised in the near future we see you know the tesla corn or some other uh you know crypto currency opportunity created by by elon himself well i'm the last panelist here so kicking up the rear i pretty much agree with what fred and everybody else said um it's it's kind of clear and also just speaking more responsibly and you know just because you're a billionaire doesn't mean you can't be

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held accountable for being a human being um and i think we should hold them accountable despite some of the realistic pressures as fred pointed out all right we're gonna hold on to the mic because you're gonna kick off the next one um it was great we just went through an entire uh panel and no one mentioned the doge incentive interesting all right i thought somebody was gonna mention it uh but uh uh so that was the past let's talk about the present so uh elon has already been presented with the data

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as was mentioned uh during the answers and he's not really acknowledging it i just watched his uh talk earlier today that he did alongside jack dorsey and i've never really heard elon speak about bitcoin and i didn't get a chance to tweet about this but it was like i was like here's my takeaway elon's understanding of bitcoin is twofold one i should hold it and two i need to hold my private keys and that seems to be where his knowledge ends uh on that topic so how uh does our community go about

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educating him that no elon the block is not really going to change the size we're not going to go to proof of stake like there is a thing called consensus and bitcoin is decentralized how do you go about educating someone like that who seems to think that he knows so much about it when he really doesn't i think it's like any grassroot movement change it's having one-on-one conversations um and and continuing to to stress the messages that you want to convey um having people that are close to him that have his ear uh having

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conversations with them as well um but it's not easy but it just it takes those are a couple things i would do let's be honest i i think to you know sit down and educate elon on on this topic is is not going to get anywhere um i think and um if i were to bet he's very highly educated in crypto and to think that any of us are gonna change his mind or educate him uh to a certain extent is is not realistic so what do you do boycott uh sales of teslas so right i think about it this way right we got to take like a row up here of experts

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right if filado was in front of us we can probably talk for hours about you know the most basic things and get to such a high level that half the people here don't even understand but the thing is if he doesn't want to learn if he doesn't want to you know be an expert and just come off come off as one it doesn't really get you anywhere so now yeah i also got a chance to watch a little bit of his talk earlier today i didn't get to watch the full thing but i saw a couple of highlights he talked about bitcoin's value being an

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information network and and this is fundamentally flawed understanding of what bitcoin is and what it represents this is about economics it's not about transferring information at the highest speeds possible so bitcoin is the hardest monetary asset that humanity has ever created it's not the fastest it's not supposed to be the fastest it's supposed to be the most secure and the hardest monetary asset in the planet so when he starts talking about fast block times this is reminiscent of when charlie lee

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creates litecoin eight years ago or whenever that is this is very very old outdated logic and thinking about bitcoin he's almost a decade behind in the curve as we look around central banks printing as we saw coveted response massive amounts of printing all around the world it's only highlighted bitcoin's economic value and utility this is the point there is no other point and so if he wants to understand it the number one thing you can do is just read the bitcoin standard and maybe we should all send him a copy

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i'm pretty sure he's gotten a couple hundred copies to date um i'll take a contrarian perspective i don't think it really matters what he says he's eventually going to be viewed as just being ludicrous and you know this whole thing with doge that he said he's borderline you know the sec just would love to put him in a trap right now because what he does is moves markets and he's manipulating markets and he's doing it in unregulated markets i think at this point whatever he says

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about bitcoin whatever he says about dogecoin whatever he says about ether ethereum whatever he says about anything people take with less and less and less validity each time yeah i would have to agree with fred 100 that was going to be my point first of all he probably knows and understands a lot more than he's putting on but it doesn't really matter you can see the more and more that he tweets and says this and that it has less and lessen effect which is better for all of us in the long run and having him involved in crypto and

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having him involved uh in uh bitcoin and everything else by and large has been very good for us for all of us and so you know whether he learns he doesn't learn i think he is what he is and uh we take him for for that yes i agree i think the problem is not with what elon says or to educate him no one can educate him except for him and uh i agree that he knows much more about bitcoin than you know he pretends to he's not a stupid guy exactly the problem is with us how we react to his tweets why do we run

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and buy dodge just because elon musk said something about it why do we rush and sell bitcoin because he stopped accepting it as a payment for freaking tesla it's a freaking car that he does not accept payments for why do we dump bitcoin because of that it doesn't work this way so we need to educate people general public who do not know bitcoin and that's much more important than educating a billionaire who you know just says something that you know he sees fit at the moment all right so let's do something a little

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different i'm looking at the clock we have exactly 30 minutes but we are a little bit behind so uh we'll see if we can finish early so um you don't have to admit it but feel free to raise your hand how many of you have tried speed dating come on don't be shy i see doc put both hands up you clearly so imagine you are on a speed date with elon musk and you have exactly two minutes to educate him on bitcoin glance at the clock the moment you start you have exactly two minutes uh you ready to go first you want to go

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last you go last all right we're going to start on that corner actually you can go in any order just whichever panelist is ready with their two minute speed date with elon musk go daddy elon i thought you're married i will start off um what was the question sorry that just sidetracked me you you are on a two-minute speed date with elon musk not for dating purposes uh so you have exactly but in the same concept you're at a table across from him you got exactly two minutes to educate him about bitcoin

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go yeah there's there's some people who are whole livelihood is bitcoin you know for example i grew up i graduated high school 2012. you know i was that nerdy kid in bitcoin uh robotics team you know i could tell you about the 16 cent bubble the five dollar bubble the 30 bubble yes i sold on all of them i probably wouldn't be here otherwise you know some of these tweets that you put out some of these things that you portray um may or may not be accurate but it has a huge effect you know it's it's daddy elon with the

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laser eye beams you know people he was a following you know he took dogecoin which i mean it's a coin and turn this coin into what 75 cents and the whole market i mean twitter instagram tick tock everyone's talking about it um i can tell you a lot of people here probably didn't jump in on the hype and lose money uh but the people who did lose money were like the random kid you see or the person in the store talking about hey do you hear about dogecoin and they buy in and then they get dumped on and then you know what it puts a bad

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taste to crypto it affects you know everyone here when that happens and the price tanks i guarantee you everyone here was living their best life 60 000 bitcoin things are going well your projections are going well you know some bad pr and the price tanks and everything else follows it trickles throughout you know the whole industry you know it's not just the miners it's it's the hosting facilities it's the guys making power supplies it's the it you know the chain goes on and you know actions have repercussions

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and it's you know some people's livelihoods so please be careful all right ben come on you got this elon is sitting right across from you you talk for two minutes straight he's paying attention what do you say elon you've spent your entire life trying to disrupt incumbent industries you started with paypal taking on the financial system that was bloated inefficient and corrupt and you tried to create a new system you demonstrated value by providing people with a service that they desperately needed

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you took on the car industry which is bloated inefficient and corrupt again and you provided value by creating a awesome car that's incredibly fast and fun to drive you took on nasa which is very very bloated corrupt and inefficient use of tax dollars and created spacex you know a much more cost effective private space company you are now taking on bitcoin bitcoin is not the incumbent industry the financial industry is still the incumbent industry bitcoin is the disruption that you are fighting it goes against everything that you have

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done in your life and everything that has made you successful to date if you want to continue down this track by all means go ahead but you will be crushed under bitcoin's boot once and twice three times over it will not stop it does not care that you think you're funny it does not care what you've already done with other industries it does not care that you have 54 million followers all it cares about is changing the world in the same way that you always said that you wanted to do so you either get on board or become

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irrelevant at a complete joke and maybe that's your point maybe that's why you are supporting dogecoin and trying to improve the protocols and trying to make them faster sure i would love to send my joke coins faster too but it does not change anybody's life bitcoin does bitcoin changes the energy bitcoin changes the poverty bitcoin changes the rights of people all around the world this is the solution that we're all looking for and if you can get on board with this you can start making an even better name

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for yourself than you ever did with paypal tesla or spacex [Applause] awesome come on fred i know you got this wow that's tough to follow um i'd take a different tact but maybe it's just because i'm the old guy here um i would literally repeat what i've said to him now i think three times well talk right to him elon just help us fix the problem if you think it's a problem if you don't think it's a problem just forget about it if you want to collaborate you've got renewable energy you have battery

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technology you have everything that could make this problem be solved join us he's obviously chosen a different position uh just keep that one go ahead no go ahead bruce okay so uh talking straight to elon you know elon uh there are and yeah hopefully right he's uh he's possibly watching on his stream or maybe he'll he'll get it or or here i'm sure we know you're watching elon right i'm sure it's been reverberated by people all over the world but you know from where you come from

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i understand that uh you know now you're kind of in the ivory tower maybe it has been a nice ride from there but what we have here is a monetary revolution and it's a peaceful revolution and it's been going on for over a decade now and it took at least five years for the governments of the world to even figure out what was going on uh we have there hasn't been a shot fired there hasn't been a lot of things that normally go on with the revolution but it has been a revolution and it's our

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revolution and when you use your your podium your mic your account and it affects the price of a an asset like it does please understand that it's not me and it's not you and it's not fred or tone or any of these guys who are all fine okay but there's thousands and thousands and hundreds of thousands if not millions of people who lost a ton of money and oh yeah okay don't margin trade or owe this or oh that but elon they're trying to make it they're trying to make it and you know in our government

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now in our u.s society and it really it's all over the western world and really the whole world it is very hard to own something it's very hard to actually own it you know they can freeze your bank account they can freeze this they can take your house they can do all these things and here we have something that came along in our generation that we grabbed onto and you can actually own it and you can hold it and even if like if you memorize your secret keys they can put a gun to your head and you don't have to give them the keys you

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don't have to give it to them and there's never been a time in the world in our in the history of the world where that has happened and so i just want you to please sit back and understand that there are many of us in the revolution and i would even say we're in the same revolution brother but there's many of us in the revolution that these types of things will hurt and just consider it just consider it before you go on your big mic and do your stuff hey ellen how you doing i'm mike are you

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high now no okay so listen one thing i want to say to you you are a very powerful person there is no question about it you made yourself you made my yourself very important figure please be careful with your words your words matter people get rich of them people get poorer of them just imagine what will happen when dash for example will finally crash when shiba coin will be destroyed and we all know it's only question of time there is nothing nothing behind this it's a bubble so a lot of people will lose a lot of money just because you

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promote it and you you spoke the words using your authority and got into their heads so be careful people face actually really real people face depend on what you're saying just be more responsible and don't be so tense maybe you need to get high now nice you guys want to go you don't have to elon in this panel in this room you have visionaries just like yourself you have people that have sacrificed their lives they have sacrificed their family they have sacrificed their income to do and accomplish the things that we

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are doing today the same way you did you've overcome a million obstacles the same way we are like fred says i think that the best thing you could do is mentor us sit down with us teach us educate us so we could do the do what we need to do you know based on on on someone that has gone through the same challenge that we are today elon you're a very smart guy so i know that you know what you say manipulates markets it's nothing nothing new it's been happening since the dawn of financial systems were

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created even well before bitcoin so you can either join us or not but we're going to continue educating the rest of the world so that they don't react necessarily in the way that they've always reacted before and that's it join us because bitcoin is an unstoppable force and you're on the ride with us or you're not but we're moving forward with or without you awesome i got some time to spare should i go no it's all right i'll leave it for the panel um so let's do let's do a quick fire answer right so

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we'll start from the end this will be like a yes or no just our curiosity and just pass the mic right down do you own a tesla no no no hell no no i i've sworn them off i'll never buy a tesla no no no no one who owns a tesla okay so let's do one more um do you think elon personally owns over 5 000 bitcoin as the second richest person no probably not i know he owns a shitload of dodge but i don't think that's the next question yeah you can draw the borderline between whether tesla and spacex's holdings are

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his personal holdings or not but um you know spacex holds almost as much bitcoin if not more than tesla does right no personal personal uh most probably has ten thousand sitting around so you're gonna go over bruce does he have five thousand i'm saying i i think i think he's got five thousand bitcoins guys i think we're we're fooling ourselves if we don't think he does uh if he didn't buy him back i think probably he sold him and he's buying him back the guy plays the market i mean

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there's only one reason to manipulate the market like that and that's if you're playing it so well i think it's we can universally agree that he's a smart guy and any smart guy owns bitcoin so it's very simple yeah i think uh he's a whale all right so speaking of whales rumor has it that a single doge whale has almost one third of all the doge do you think that whale is ilan i don't think so because he's a smart guy so i'm sure probably a lot of you in this room read all the articles and you

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know there's all this tied to his birthday and this and that and the other yeah that's him yeah it wouldn't surprise me do i think he's stupid enough to put all that doge in one single wallet address yes i do let's be honest he knew it was coming so there's your answer i think his closest friends do it's a fun game i said he was a smart guy um so um yeah no i don't think he does oh yeah so it's not him all right um all right so that was fun we saw a couple of minutes we are gonna

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we are overall i i know the conference is everyone's getting ready to go to those after parties so just i give your closing thoughts and also since we have a few minutes to spare uh tell the audience um you know what company you represent and uh what are you doing what do you see the future of the bitcoin industry yeah so i'm a marketer by trade 20 plus years doing tech marketing about five years in the blockchain space um epiphany's a digital asset trading and and mining network um actually was talking with tone about

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this earlier we solved the problem of global trading fragmentation where traders don't have access to the best prices and liquidity uh because frag crypto's fragmented it's like if apple were listed on 300 different exchanges that's really the state of the global trading market today and crypto there is no single unified global trading market um despite bitcoin being a global asset it's traded like only regionally like a local asset so that's a little bit about epiphany um what was the other question oh just

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final thoughts where do you see the bitcoin ecosystem going wow um putting on my nostradamus hat um i think it's an unstoppable force i mean i'm i'm along for the ride there's there's no single government or institution that's going to stop uh bitcoin from continuing to grow um i don't ever think it's going to zero um i don't know how exactly it's gonna play out in terms of if it's the currency that uh or the mechanism that really starts to more tightly integrate with

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traditional financial infrastructure but i think it will happen i think we're going through a massive growth spurt right now you could use infrastructure as a good gauge what we're seeing currently is unprecedented and i think that as the financial sectors continue tapping and continue growing the sector um i think that the growth is is is going to be exponential in the next upcoming years and what are you doing to help that growth what do you do build infrastructure build the infrastructure which is the

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backbone of the blockchain and as long as we you know continue with innovation and and and building uh reliable and efficient infrastructure um it's it's going to support blockchain all right that's the question where is the space going and how you're helping it get there hi all right so um so i work for asic.

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to uh it's the part of the vanish firmware group so what we do is closer closer like this okay so what we do is we take your bitmain bitcoin machines uh we hack them we put our own firmware on there we've been around since like mid-2018 and basically what we do is we run a machine learning algorithm that optimizes each individual chip on a hash board to maximize the amount of profit or efficiency out of a given you know hash board this is trying to take it too technical so basically what we do is we try to take existing hardware and

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make it better make it more efficient because there's gonna become a time you know moore's law we're at seven nanometers the future's five two three nanometers eventually we're going to hit a roadblock and then optimizations aren't going to be so much on the chip level but it's going in the software level you know what can you do to make these chips the absolute best possible chip for the given circumstance um so you know i'm working more you know with the miners not so much infrastructure like some of you guys

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uh but you know it's it's all together um i'm excited for where bitcoin's coming in the future you know it's an unstoppable force like everyone's saying but at the you know the the mining level it's pretty cool like some of the advancements we have and you know we have we have miners now buying power plants uh i think we've had this conversation before where we saw two years ago we had a conversation that we thought that the future was going to literally be people mining next to power plants or

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with power plants in conjunction because you know what uh it just makes perfect sense like power producers you know securing the blockchain and it's it's wonderful i'm ben gagnon i'm the chief mining officer of bit farms a publicly traded bitcoin mining company with about 1.

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5 percent of the network and 78 megawatts of green hydropower in north america we've been operating for about four years in cuba canada primarily and now we're expanding internationally around the globe uh personally i've been in bitcoin since 2010 um actually got invested in in 2013. i've been mining in it since 2015.

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i've mined in three countries in two languages um this space is incredible and we are building the infrastructure of the future what's bitcoin is going to do you know financially i think everybody is really clear about that in terms of the value bitcoin mining is is solving a real world problem that the industry has never been able to even fathom a solution to and that's the excess energy excess energy problem so as bitcoin miners are going to be searching for more and more cost-effective sources of power you should expect that bitcoin mining

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starts being integrated directly into electrical infrastructure all around the world this will happen at multiple different levels this will happen at the actual production level this will happen at distribution levels substations this will happen at smaller company levels who are off taking uh you know excess power in their various purchase agreements or have purchase agreements that have power requirements beyond what they can actually use at this certain time and by doing so we're going to be solving this excess waste energy problem

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that that no other technology can solve batteries cannot scale to solve the global waste energy problem only bitcoin mining can do that and we're going to do that so as a company what we're doing is making mining accessible to everybody you know mining has an economy of scale which is the inverse of triple traditional economies of scale it makes a lot of sense at the very small end of things where you have one or two minors and you're taking advantage of you know excess power or you know your existing infrastructure or improperly

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priced power it also makes sense at the large end of things where you have incredibly efficient cost of capital incredibly efficient scale um it doesn't make sense in the middle so as a publicly traded miner we're decentralizing that exposure to bitcoin mining through public shares and enabling people to invest in mining without going through the hassle of finding the power finding the miners getting everything set up keeping it running making sure it's optimized we do all of that for you and enable you to invest in all of this

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infrastructure of the future all right awesome i'm fred thiel ceo of marathon digital holdings for a large-scale enterprise miner publicly traded on the nasdaq symbol is m-a-r-a um currently deployed about 2x a hash and are deploying a further 7x 8x a hash between now and the end of february of next year so figure that's somewhere between six and seven percent of the global network where do you see the space going not just from a mining perspective but like obviously you're mining bitcoin for a reason

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so where do you see the ecosystem moving sure so i think bitcoin is going through the typical technology adoption curve right you have this initial hype cycle everybody's pumped about it but there are no real good commercial applications developed yet people get this illusion and forget about it and then you start seeing major credit card companies supporting bitcoin transactions you start seeing cash back on credit cards one and a half to two percent being paid in bitcoin you start seeing bank accounts being

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enabled by fis and id to support bitcoin wallets and bitcoin holding and transactions you start seeing etfs providing investment exposure to it bitcoin is slowly but surely growing in its penetration of the financial markets and it's going very mainstream and we're going to start to see that happen further and further and further what's really exciting me about bitcoin and where it's going and what its potential is is its ability to lift people out of poverty who otherwise haven't had that opportunity you know

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what's happening in el salvador by taking 23 of the gdp which is foreign remittances and just removing the fee structure from it what that does to that country and enabling the unbanked to be banked it's really helping people at the bottom tiers of society move upwards it's also providing an ability to dramatically increase in the speed at which transactions are done it's affecting every aspect of society and having lived through the internet early years 1995 and being very involved in the data coms that built the original

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internet we're in 1994 1995 right now with bitcoin where this is going to go over the next 10 years most of us can't even envision it awesome bruce yeah i would echo some of that it's uh bruce porter jr i'm the founder of uh ceo of global boost founder of washington elite global boost is an old 2014 blockchain uh washington elite is a series of events we do worldwide i we basically have turned into a global consulting agency we help different blockchains all over the world i speak all over the world was just in

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monte carlo at a sustainability conference with sir anthony ritosa as a family office event and also speaking at the cc forum i i do and everybody's mining and we're publicly traded and we're all these things you know i kind of like to take it back to the whole revolution you know and i i've been in for a long time and i was at the i was at a park gathering or a club gathering the other day and my neighbor comes up to me who i convinced to buy bitcoin at six hundred dollars and he had a couple of drinks and he

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says bruce he puts his arm around he says bruce we made it man we made it and i looked at him and i said yeah you know it's it's not over yet though man and he says yeah i know but this is the american dream you know we we did it we made it and it kind of you know gave me a moment to step back and look at the wider picture because of course i'm in it all the time uh but we did change the world we we changed everything really i mean to send now you make a deal and the money comes instantly or it doesn't come

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right they either send you the crypto or they don't and there's no bs i'm going to wire you this i'm going to do that or anything else and and that's just one of the ways the other way i touched down earlier being able to actually own something you know and the newer some of the newer blockchains aren't like that but the older ones are you know so that's something that is very special and we did it without firing a shot and we did all these types of things which i mentioned before the future is very bright guys you know

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the the next 10 years i think is going to make the last 10 years look like nothing and i know you know people say well bruce you're a perma bull all right yeah i am but hell man we did it yeah no that's awesome and what you said about the financial system i just got a message today from my bank overseas that the money i wired to it over 10 days ago has finally arrived that was great from myself to myself yeah bitcoin isn't going anywhere guys hey uh michael savuskin here the ceo of alpha minor we manufacture psus and uh gpu chassis

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and uh at this show we're showing the psu for the uh alternative psu for s17 t17 and miners apw 9 replacements with 4 000 watts and the new hpc chassis for gpu um in my opinion of course bitcoin is not going anywhere and i agree completely with my colleagues here that uh you know the next 10 years will be a much more interesting ride um i'm a little bit not concerned it's a wrong word but i'm seeing that we also in mining we're doing a lot of consolidation where uh miners like marathon and beat farms

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and hype and genesis and all the core you know all the large guys are consolidating and essentially making the retail home mining relevant unless of course you have a very nice electrical rate in your house and that kind of takes us away from uh bitcoin for everybody concept but other than that it is for everybody uh maybe not as a mean of payment but it definitely is a mean of value and uh i can only see that a lot of people will get into that in the next few years institutions will get it will be adapted more and more by financial systems

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it will become a norm rather than something that oh what is that a novelty and uh i'm happy that i'm in this industry i'm happy that we all are and we're gonna be doing very very well in the next few years thank you much awesome uh that was great uh let's have a round of applause for our panel and uh thank you so much to uh to the conference for inviting me over to moderate this panel and to everyone else uh for coming and visiting uh one more round of a close for our gracious mc erica goes by bank of erica who's been

43:40

doing an amazing job all day all right

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