Australian Bitcoin Podcast

Episode 27: Piers (www.mineracks.com) discusses his bitcoin journey, setting up a hosted mining facility in Brisbane Australia, and things to be excited and cautious about with bitcoin.


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The Australian Bitcoin Podcast is focused on Australian bitcoin and privacy content, including educational episodes, recent news, and guest interviews.  


Guest: Piers of https://mineracks.com

Host: https://twitter.com/mission_bitcoin

Sponsor: HardBlock https://www.hardblock.com.au

Notes

- Setting up www.mineracks.com and making the facility acessible for visits from customers

- Attempting to solve the three common problems for bitcoin mining in Australia: 1) understanding if it's profitable, 2) buying a miner, and 3) dealing with the heat and noise (especially if it's in your home)!

- Learning about bitcoin mining keeps you humble as you're always learning and meeting people who are motivated by the right values

- Compass Mining and BitRiver US-Russia sanctions fiasco - a risk / trade-off many didn't consider when looking at the cheaper energy prices

- Piers' bitcoin journey

- Receiving a cheque from the FBI from the eGold rug-pull and being unable to cash it due to high fees (peak fiat!)

- Trying to find the "next bitcoin" and realising there isn't and won't be one

- Setting up bitcoin and lightning nodes, using the technology, and realising the utility it has

- Discovering bitcoin mining initially through GPU mining of shitcoins

- Realising stacking hash is as addictive as stacking Sats

- Taking on the personal mission to help non-miners get access to the mining industry if they choose to

- Running one's own node and using the network may be the tipping point for becoming a bitcoin maximalist

- Understanding the benefits of proof-of-work over proof-of-stake through lived experience and experimentation

- Consensus versus democratic or authoritarian systems

- Libertarian and Austrian ideals in regards to free markets in the context of other cryptocurrencies and bitcoin

- Experiencing five difference currencies, hyperinflation, and sovereign confiscation of private assets in South America

- Financial privilege gets in the way of Westerners understanding the global benefits of bitcoin adoption

- Family and friends reactions to transitioning to a bitcoin-focused vocation

- Working on containerized mining solutions for flare gas mining sites

- Most people working in the bitcoin industry needs to be a polymath

- Tips for people starting their bitcoin mining journey (eg, adopting the right mindset and understanding the risks)

- Building the Australian bitcoin mining industry to further decentralize the overall bitcoin mining ecosystem

- Mining is a collaborative competitive industry - a non-zero sum game unlike anything else!

- Orange pill stories and tips: shitcoin miners transitioning to mine bitcoin, 1) establish yourself as a knowledgeable and trustworthy source of information; 2) expose the person to the network; 3) be helpful, and let them come to you

- Things to be bullish about: motivated, innovative, and intelligent bitcoinrs!

- Bitcoin is an energy buyer of last resort; an energy sink which stabilizes demand and lowers the price for everyone; an efficient way to utilise our otherwise wasted energy resources

- Threats to bitcoin: the energy debate and a global push towards less reliable energy and discussion over the morality and utility of proof-of-work protocols (similar to the net neutrality debate)

...more
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Australian Bitcoin PodcastBy HardBlock


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