That capacity because apple has not done so well with i phone ten but samsung is also after this theyre going to get into a g. P. U. Miner so expanding the market to ordinary investors as well co well if you want to learn more about mining stay tuned for the second half our guests will break it down dont go away. Im completely confused about why a republican a bit astray should made a change that was the same surely. Part of the democratic philosophy i can only think that somewhere deep within what they call the deep state the u. S. Treasury there were left leaning bureaucrats who who implemented this change to a territoriality based system expects a. I without anybody actually being aware of what was going on. Despite its title and history the soviet union has dominated International Sport however it was not about the motives of those champions from the. Right on the children. That. Knew more than build their own food and bottle fed me just remember to three brothers describe who is for the order youll look irish was the First Computers after your you were the first some of your lympics team of one nine hundred fifty two with some good seeds of life as concentration camp prisoners and from slime soldiers for a baby of his nothe is good to go from here with corruption because you are much more than an issue for the government because youre more things that youre in for than one follow through shall go a little bit off the floor with you if you think that we are going to go with. The variations youll push you over through personal personal enthusiasm will overwhelm you know when youre at the National Mourning period then youre there with the workers we are in the will free up guys you know can we. If you. Follow. Me if you. Have that. Time you. Know. Was. My. Welcome back to the kaiser report imax keyser time now to turn to j. P. Barrett of mining storage 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 the 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 in 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 it 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 well 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 as a work or a 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 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 school. Oh worthy or perfect your teachers they were they interested in this and that this kind of filter back up to them to the old well i got a lot of questions about crypto you know as a young kid and theyre always like what is this because 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 bitcoin and some almost every project i did was about to call in 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 mining someone 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 to 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 game or we start a program that you could you know mine cryptocurrency computer and get paid and pay pal but you know we inventions 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 you are 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 and youre in it for the long term unit for a hole in the coins and just getting them and not selling them if youre signing 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 go 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 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 morning with me you know back in the day so i kind of explain to her as 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 the tenants in each one of these tenants is like you know when you make the queens and the kind of paying for that so its kind of you know using that play to explain it to people and kind of like the 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 you kind of youre securing the network you the army youre the military for this currency youre providing the security you know thats of all the big ones out there of all the if there 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 for 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 kind of talking about so well i mean j. P. Youre a miner you have a body 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 this group theres a 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. The level of authority could be even a School Authority or a federal or a state authority or federal government as are but any pushback whatsoever so i mean not really with anyone from schools or you know in school were talking about if you like one of these mining things are running has really started getting on the computers and 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 their laptops you know back in the day ok. What about. The most competitive locations at the moment us care iceland 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 you when it comes to lecture 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 that actually the u. S. Infrastructure is having a hard time scaling like the actual power and sure some of our 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 BusinessCrypto 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. Where 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 and they want well maybe 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 their rig what does your company do exactly so youre mining store dot co so what do you do exactly so what we do with money 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 or 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 while im very interested to hit ten thousand you know hit twenty almost twenty thousand dollars thats why our crazy you know couple years ago are 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 the corn and thats kind of what ive seen is like you know i talked about pick when a bunch of people now theyre all coming back to like what is this big quinn thing youre into big corn like yes i told you about it 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 eighteen thousand dollars and thats fine with me you know i think theres still huge value 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. 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 online and just entrepreneur and your fellow postmillennial generation has it changed your world to sell crypto space in a big way its given me you know theres a lot of opportunity in this must give 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 its kind of take that and be like ok lets run with this and you know really see what we can do 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 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. Running. The best out of. The concepts of pain to perform i have actually passed myself today. You dont know so you need what. Are you going. To snow in home. During your. Squinty was. So. What. Was it you could with us the. Yes get. Mission. There. Im here at muddy field stadium in their home on the hop. Im here to interview a scotland legend. A man who fought many great battles on this behind me now hes engaged in the greatest bottle of all his struggle against. Disease. Across europe municipalities are taking their water supply back from private companies to meet this with simple song alone even find company elsewhere though they invite private companies to take over their utilities anybody. Ill actually miss you guys you got. This is. Just because im out looking. For you man but the lift hill brought up locals are ready to stand up for the basic human right of access to water its ab