Know it was Just Announced that china is banning. Mining of bitcoin in china south korea saying were going to provide some Mining Equipment these chips for china. Some people say that again thats just fake news as well that were or were misreading the statements coming out of china that china just has theres a problem with the local corrupt officials who are doing deals with between miners getting the taxpayer to finance the electricity for the Mining Operations and taking all the money themselves so again we dont know really whats going on in that part of the world but right now in the long term samsung plans to expand its my new equipment venture from china to other regions like south korea and japan they have a stronger demand for crypto currency than other countries are the reason they have all this confusion as a National Government in various locations still dont even understand what crypto currency is. Mining works what bitcoin does and that confusion and that learning curve that they havent bothered to climb leads to a lot of missed policy choices messed up policy choices and its because of a massive confusion out there so little is known about bitcoin and cryptocurrency is at all levels of government most levels of the go sooner world and even within the Crypto Community itself probably less than twenty percent of the Crypto Community even has a basic working knowledge of how the Technology Works but if we stay with this theme of dystopian philip k. Dick sort of novel is it could also be a sort of prisoners dilemma is this is why theres so much confusion is you know its like one of those Police Procedurals where theyre going from room to room to try to get the prisoners to you know the bad guys to turn on each other here were saying like which countries the first to adopt coin or crypto should we be the first if its all a scam and theyre all looking at each other and everybodys moving for incentives or poets thats the allegation so the protocol thats the genie toshi doesnt want to take over and anyhow the game theory played out in the summer lol some loans were buying the Central Banks were buying because the prices dont try to go to a hundred thousand dollars a court and then finally just to put into context what it means in terms of who samsung is samsung has a large scale sophisticated Semiconductor Manufacturing plants which are capable of matching orders of any size since last year samsung has been the sole supplier of o l e d screens for apples i phone ten production line because it has been the only company that is able to match the supply needed by apple apple is a mess of billions and competitors at l. G. But nobody is able to match what samsung can do i guess they didnt really need that capacity because apple has not done so well with our i phone ten but samsung is also after this basically going to get into a g. P. U. Minor so expanding the market to ordinary investors as well go well if you want to learn more about mining stay tuned for the second half our guest will bring. Down. Across europe municipalities are taking their water supply back from private companies to meet the sales with simple song alone even find company elsewhere though they invite private companies to take over their utilities anybody tell us that. Allowed for mr garcia got. To go. This is us to quote them out. Of more use than bill bill if bill brought up locals are ready to stand up for the basic human right of access to water its about water but its also over much more than war its about the hurt and the redistribution of. Purpose. Downwards we want our. Welcome back to the kaiser report imax keyser time now to turn to j. P. Barrett of mining stuart bad code j. P. Welcome thank you all right j. P. We ran into you recently at a at a meet up a bit coin actually the party that anniversary of the Genesis Block being launched and youre a miner and this is really fascinating to a lot of people is it fair to say youre in your twentys or early twentys or fairly young guy. Before we talk about your crypto Mining Operations tell us about how and when you got into cryptocurrency so i got in the crypt when i was a Freshman High School kind of got my whole school was going to really Small High School got everyone in on crypto eval was trading it you know so i guess most fifteen years old sixteen years old and what so how did you hear about i think it was about once i tried buying coins through a wall in mt gox and i was like this is way too complicated and then eventually tech crunch another article came out like ok this stuff is crazy i need to do i want to do this and tell myself you know get the coins and i was like whoa and i have a core and let me see what i can do with it and then from there its been just a learning process so there is a story a few stories ive been reading teenagers basically getting into crypto and doing rather well and has it changed your view on. The economy or work or at you know you know youre in high school suddenly youre mining currency and youre youre exposed to a whole world of. Economics and well how did that affect you you know at that time well lets just say i spent a lot of time focusing on because they went on the rabbit hole like you know a lot of people do and you just keep researching researching a story you learning about how you konami explore you know how the Government Works how you know what money is and just kind of really learned a lot and i was like wow the stuff crazy and started taking with my school and kind of spent a lot time krypto by loved and it was worth every minute of it honestly and at school. No worthier perfect your teachers they were they interested in this and that this kind of filter back up to them to the older well i got a lot of questions about crypto you know as a young kid and theyre always like what is this big court stuff a lot of the classmates started joining in on me so we started kind of taking over some of the classes and all the discussions were about to coin and some almost every project i did was about pickle and if i could make it about it so i was kind of the big guy in school so all right cool all right so now when lets talk about the mining so in setting up a Crypto Mining operation how difficult is it to enter the space. You know as competition for chips its quite fierce so how difficult now is that they get into mining so right now weve actually seen just the past since january first like an eighty percent rise in graphics card prices so its been crazy i was trying to get into the space because a lot of money can be made but its just the biggest thing is like i told minings for anyone anyone can get into it from someone who wants to be a gamer we start a program that you could you know mine cryptocurrency computer and get paid and pay pal but you know we invention shut that down but miners are for anyone from gamers to you know large scale is to show investors its all about the capital you have an lets anyone play the game its just the same level returns on your investment its just you know if its one hundred dollars or if its you know ten thousand or one hundred thousand right so you know we hear about the cost of getting into the big play mining now getting quite high and you have institutional players and pools getting together but youre mine across the spectrum all kinds of koans right how do you determine what coing to mine when it comes to Asset Management for miners is a big thing because you know youre mining cryptocurrency we started money or money you know hundreds of a theorem a day if you have proper Asset Management and proper Portfolio Management youre able to you know reserve some of those for later down the line and not sell them all so really it comes down to which koreans you think are going to do the best in the future mining is kind of you know a hedge to getting into crypto its a group of people to get in who have been who dont really believe in because you dont can really understand its like ok why have physical devices make mean. I can kind of you know get a grasp of what it is also ok so how do you pick lets say theres Something Like fourteen hundred coins out there and depending on a lot of variations yes some are profitable to mine one day and not the next how does that all work yes so i would go ahead and say that most people most of our customers you know my theory im in the cash im an arrow those like the big three and you see customers will just mind that and hold it but theres also some people that use you know use nice has and has gone ahead and you know truth is the most powerful coins and automatically sell on place that its really you know why youre in mining are you in it for the long term unit for holding the coins and just getting them and not selling them if youre selling it for me for profit then youre in a mind something called the most profitable coin and theres websites like what to mine dot com that kind of show you which coins the most profitable but thats which is because you know as difficult to goes down some of these coins in the price are pressured up you know the mining rewards are basically in balance thats right Dynamic Market so lets say how would you describe here grandmother for example she would say j. P. What is mining is it possible to sum that up in a one minute blurb how do you describe it or how funny enough actually my grandma was one of the first were going to go out in the money with me you know back in the day so i kind of explain to her i was like so mining is this you know its a new real estate play for people its like if you want to go ahead and you know youre buying a small mini apartment complex and youre kind of you know getting money from your tenants and each one of these tenants is like you know when you make the queens and the kind of paying you for that so its kind of you know using that play to explain it to people of kind of payment works in its just an easy way to explain it its like a very similar to Real Estate Investment ok that thats maybe too easy yeah oh yeah do you understand mining the words can you just talk to the audience out there what what is what is Crypto Mining exactly i mean can you break it down what happens so yeah i mean in Crypto Mining you know youre solving youre building a block right and the whole goal is to build the next block in the block chain and youre kind of go to poor. And you know people join these pools in the pools all together and they also you know contribute to get this block i would say you know Crypto Mining if its for someone whos never heard of it its just youre kind of securing the block and kind of using now as recently as like you were the kind of securing the network or the army or the military for this currency youre providing the security you know thats of all the big clones out there of all the if the amount theres no one can you know overtaken have fifty one percent attack or you know overtake the network so its another way to go about it that you know might helps answer some questions from people who have no idea and you start explaining you know what actually you know the math is in the technical know behind that its people just they just usually glaze over and forget were trying were talking about so well i mean j. P. Youre a miner youve made money mining do you yourself or is it really necessary to dive into the mathematics to aggressively i mean its not i dont think its necessary to do this. Theres some people that need to do it and people have done it and you know with a very thankful for them but you know as a businessman you dont really need to understand the technical background of it because all the code is out there its open source and people have you know vetted it and audit it and looked at it its really Pretty Simple now you just kind of plug in your computer and kind of start graphics cards can start mining you know different crypto currency like a theorem or youre a sick man you just plug it in connect to a pool now its going so theres not really any technical background that you need to have to get into mining now back in the day it was a different story but ok so have you got a pushback from any any the level of authority could be even a School Authority or a federal or a state authority or federal government has there been any pushback whatsoever so i mean not really with anyone from schools or you know in school were talking about here like what are these mining things are running has really started getting on the Computers Like testing them out on the School Computers and theyre like oh what are you guys doing its like oh were just kind of playing around with stuff or using the school yeah lets say you know we all tested they were our laptops you know back in the day ok. I want. The most competitive locations at the moment u. S. China. Price per kilowatt is a metric you hear often do you look at that i mean is that whats going on there the energy cost thats the biggest thing when you come to institutional mining is you know when youre deploying millions or tens of millions of dollars for the assets that electricity electricity costs you know years when it comes to electricity cost the price that out you kind of want it could be you want it for four point five two you know five cents per kilowatt weve seen you know pricing down to two cents per kilowatt in some places in the us and its really just finding it the biggest thing ive seen is the actually the us infrastructure is having a hard time scaling like the actual power structure of a hard time scaling with the demands of these cryptocurrency miners on the some counties in you know in somewhere in the us there were have applications that theres about a thousand megawatts where the power currently just allocated in a queue thats for future deployment but you know youre not looking for the these companies are going to be deployed for you know maybe three to five years because of just the time it takes to build the substations and the time it takes to build out the infrastructure to support these cryptocurrency miners so they use a lot of power so where were you going in the your education and career now youve been exposed to something that gives you a look at the Energy Business the Currency Business Crypto Mining business i mean youre in the air down involves a lot of Different Things suddenly and so youre at the beginning of your career i guess you could say so wheres this taking a j. P. Word do you think this is all heading for you on your journey so i think for me in my journey i think its going to kind of walking towards more Institutional Investors working with them on getting their you know their assets deployed in kind of helping them out thats where i see the you know a lot of the funds moving money is moving more towards you know i think well have like you know right now money make your money back in about a year and a half a year to you and a half is conservative very conservative estimate but you know i fancy i think thatll be five to ten years before you make that money back because were seeing what a year and a half a year and a half or an out of what about this is the gratification i like to get like to get the mining started to make money if they want well maybe im going to. Oh i see youre in a year and a half right as you say your cost of the chips yes you cost so surely but that is a group is that number growing i mean its been fluctuating you know weve seen i havent you know six or seven years ago you were mining on your laptop and you know printing bitcoins exactly that was worth nothing. And now youre saying that the cost of the rig what does your company do exactly so youre mining store dot co so what do you do exactly so what we do with its kind of our consumer facing company were going to manufacture rigs for anyone whos looking to spend you know anywhere between five thousand to one hundred twenty thousand dollars on hardware if i came to you and i said ok up to you could do that for that between five thousand or whatever youre saying but im i are why does a kick in for a year more than a year where you make money but youre going to make your Principal Amount on your investment back in basically a year or two and a half so not cash flow positive yet another year year and a half and thats attractive for a lot of folks i mean thats the price a bit quieter crip those were to continue right there in a soft patch you know if they continue to slide obviously that pushes that out further exactly and whats your view on the Crypto Market price Going Forward well im very interested in a hit ten thousand you know hit twenty almost twenty thousand dollars thats why our crazy you know couple years ago we were like oh were going to hit a thousand dollars is a big deal but i think you know crypto is growing exponentially you know as i can just as an organization as an organism as a group of people as you know we as a Network Grows as we see a Network Effect of you know im talking about big corn and thats kind of what ive seen is like you know i talked about decline of bunch of people now theyre all coming back to like oh what is this because when youre in a big corner like yes i told you about you know four years ago you should have got in then but you know its still happening i think theres nobody wanted that Million Dollars no one everyone wanted it eighteen thousand dollars and thats fine with me you know i think theres still huge value in decline i think were going to see you know higher prices you know maybe well hit fifty thousand dollars by the end of next year but you know no one really knows and its kind of like as interest. Sure builds and as more Companies Start working in the industry says ok so now youre out of high school i guess yeah so i was in college at n. C. State university in raleigh and finally just took off and now im working full time on money from your and your fellow postmillennial generation has it changed your world to sell crypto space in a big way i mean i think it has its given me you know theres a lot of opportunity in this market and its allowed me to really like you know i always want to be an entrepreneur and kind of take that and be like ok lets run with this and you know really see what we can do and what you know my generation can build in this into the watch and i think watching are going to play a huge part in the tokenization of like assets as we move forward and you know with and just in a Virtual World all right well thanks so much for being on the show thanks all right well thats going to do it for this edition of the kaiser report was made back as i say several i think i guess j. P. Barrack of mining store dot co if you want to reach us on twitter its kaiser report and told next time by. Two americas to be intensely charged in opposing news narratives to Cable News Networks reflect these divisions or rather function as triggers intensifying Cultural Divide also what has happened to journalism is it now profession inhabited by hats in the politically possessed. Of a war zone you on the idea that dropping bombs brings to the chickenhawk forcing you to fight the battles. That you talk to try to tell you that the public. Doesnt tell you on the cool enough to buy their product. That we. Will walk. Im here at money field stadium in edinburgh the home and the heart of Scottish Rugby im here to interview a scotland legend doherty were a man who fought many great battles on this pitch behind me now is engaged in the greatest battle of all his struggle against motor neuron disease. If. You keep them. On the field. Can you dance like on a daily guest said its pretty. Rude i think since i called or they still also want to do everything in their view. These net but. It all one. 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