How Decentralized is Bitcoin Mining w/ Harry Sudock (BTC167)

Рет қаралды 9,332

4 ай бұрын

Join Bitcoin mining expert Harry Sudock as he discusses on-chain fee management, over-the-counter transactions, and the operational strategies of miners. Gain unique insights into the unseen mechanisms that support blockchain efficiency and stability. This discussion is perfect for anyone interested in the behind-the-scenes of Bitcoin.
IN THIS EPISODE, YOU’LL LEARN:
- The role of miners in managing high on-chain fees in the Bitcoin network.
- Strategies used by miners to handle fluctuations in transaction fees.
- How over-the-counter (OTC) transactions are integrated into the blockchain.
- Insights into the unseen economic aspects of blockchain transactions.
- The operational challenges faced by miners in the current Bitcoin ecosystem.
- The impact of on-chain fees on the overall efficiency of the blockchain.
- The relationship between miners and the broader financial aspects of Bitcoin.
- Expert views on the future trends and developments in Bitcoin mining.
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Пікірлер: 41

@PrestonPysh 4 ай бұрын

📌 Check out this video next: kzbin.info/www/bejne/eoCYXq2qYrijm6M ⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

@jimnichols5584 4 ай бұрын

A brilliant discussion with so much info! Thanks Harry for your valuable time. At my depth down the rabbit hole to still learn new things shows what an amazing tech Bitcoin is!

@mc-kz8zn 4 ай бұрын

Always awesome to hear from Harry!

@scottyreagan7075 4 ай бұрын

Sic, another killer conversation with The Investor Pod Cast!

@kristopheradams782 4 ай бұрын

They’ve stopped nuclear because the abundance in energy it would provide would collapse revenue towards zero for all current electricity suppliers, which as a result would wreak havoc in the banking system when the debts couldn’t be paid back. That’s my theory - until someone can convince me otherwise. Great pod guys!

@astroNexx 4 ай бұрын

lol. what

@costaricaphotos 4 ай бұрын

"Bitcoin Park"! Love it😍👍

@jayd6813 4 ай бұрын

As always, Harry presents great points through his deep mining knowledge. I beg to differ on small nuclear plants, rhough. I think he has good business vision, but not so good biohazard pollution vision. If 80% of our US rivers and streams are deemed unfishable after a century of industry, and China is probably worse over just 30 yrs, can you imagine the radioacrive demons rhat will seep their way into evwrything with just a few dozen mini reactor incidents in countries with lacking standards. Also, human greed will cause irreversable damage in disoosal and maintenance corruption.

@LucianoSmith-cq1gb 4 ай бұрын

Nếu mình mua 1 bức tranh NFT mình có bản quyền bức tranh, vậy mình in ra mình treo, hoặc in ra bán thương có vi phạm bản quyền không các bác.

@langa1533 4 ай бұрын

Still watching the Obi Nwosu one 😂😂😂. Really hard to catch up😢

@moralhazard1 4 ай бұрын

Hopefully we're at the point of mining as we were at the beginning of computing, where a computer filled an entire room and even the heads of IBM never imagined there would possibly be a personal computer in every home lol

@dennisdonnelly4440 4 ай бұрын

I tried purchasing an older unit. It wouldn't boot. Tried again, no communication. Burned twice! Fool me once, shame on you! Fool me twice, shame on me! My problem with new equipment is it is industrial machinery that isn't always easy to use at home.

@nicholashays1246 4 ай бұрын

Preston have you done a talk with anyone lately on fees? I don't know the last time you made a base layer transaction but the fees are insane. We need to find a solution for this bc Bitcoin won't be relevant if fees continue at this rate.

@tracyt4327 4 ай бұрын

Residual energy in the form of heat can be best used in cold weather for heating. So an efficient solution for mining is simple. Mine Bitcoin in the southern hemisphere in the Summer and mine Bitcoin in the northern hemisphere in the Winter.

@catherinecampinos5331 4 ай бұрын

Hello Preston, would you be willing to share what multi sig service you use? Do you ever offer consulting advice privately? I'm having difficulty finding someone of trust who can guide me in all things bitcoin. Thank you

@scottyreagan7075 4 ай бұрын

Un Chained Capitol, Swan Bitcoin and Cold Card wallet are all legit.

@sethbracken 4 ай бұрын

Unchained capital offers multi sig services and instructions. Also I think Matt Odell offers consulting.

@7399klowe 4 ай бұрын

another vote for Unchained. They will walk you through the entire process no matter what knowledge base you have.

@casamurphy 4 ай бұрын

Here in the southern Colombia rural Andes mountains electrical rates are very low and every village has a large creek with a steep drop coming down the mountain valley. This is a perfect setup for mining. The only thing lacking is capital for the installation. I am a US citizen who lives here. I would love to help propagate mining here.

@davecorley5514 4 ай бұрын

I worked in the 70s and 80s as a supervisor and occupational radiation worker on three nuclear power plants, No technology has zero problems. To think that any technology has zero problems runs counter to the Second Law of Thermodynamics: Everything in nature degrades and l/or dies. Parochially, “s$&@ happens”. The trick with complex systems like nukes is to design in anti-fragility to allow safe recoveries in the event of unintended, consequential behaviors. That and retention of a core of desig 1:02:59 n and operational engineers and leaders that are transparent about their personal integrity. The US, UK and French Navies built over 300 “small modular reactors” that have run at-sea and on-land with no nuclear accidents since 1954 - seventy years. The Soviet Navy built and operated about the same number but with several melt-downs. Simple questions that every energy decelerated must ask themselves: Why the difference in the US, UK and French navies apart from the Soviet Navy? A pretty simple “proof of work” yields the correct answers. The critical issue is Supra-regulatory. It’s woven into purely democratic societies. Risk kills a politician’s chance of winning their race. Standing tall in the face of difficult energy choices is a massively risky play for national leaders and energy policy wonks. Expansion of nuclear power, whether delivered as-is or with SMRs, is a no-brainer policy that will deliver a better society for centuries - as is adoption of Bitcoin.

@OliverHawas 4 ай бұрын

Exciting times in the crypto world! The latest analysis reveals a bullish trend for Bitcoin in the coming week, especially intriguing following its recent weekly closing patterns. The approval of a Bitcoin ETF adds to the buzz, presenting a prime opportunity for investors to strategize and potentially capitalize on these market movements. Definitely a moment for crypto enthusiasts and investors to watch closely and make informed decisions in this ever-evolving market...managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

@OliverHawas 4 ай бұрын

She often interacts on Telegrams, using the user-name...

@OliverHawas 4 ай бұрын

@FrancineDuguay

@Andipitt 4 ай бұрын

Her technical analysis is excellent and her interpretation/projections of the market is so accurate I sometimes ask myself if she is human haha. Point is, Francine is the perfect trader to follow for advise and daily signals.

@NellieBowles0 4 ай бұрын

Francine Duguay was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course, She is my number one source when it comes to crypto and TA.

@alpergroups 4 ай бұрын

Thanks to her insightful and forward-thinking market research, she is a trusted resource for traders trying to stay ahead in the hectic world of finance....

@ZEUSAIMIGHTY 2 ай бұрын

Just one question...huh?

@mm-zw1zc 4 ай бұрын

I love this idea and would really like it to take off. But as I keep looking at the economics of this, to date I can't make it work. The idea sounds great, but the problem is that 1) pure electric heat is crazy expensive relative to other forms of heat (heat pumps,, or even propane) combined with 2) the hardware costs eat all the gains because the difficulty adjusts. E.g. I have lots of excess solar, so I can get electric power for 'free' but this does not occur 24x7x365, so the mining rig costs need to be distributed according to when I have spare electrons, otherwise I have to consider the additional cost of electricity or adding more solar. Alternately, I can heat with a more efficient source like my geothermal system. It's less expensive to do that, and use the difference to just buy spot BTC instead of the mining rig. So what is needed is an * inexpensive & efficient* home unit that can compete with other companies (e.g. Foundry) that have contracts with energy companies to burn their excess &/or a rig that heats as efficiently as a heat pump.

@moralhazard1 4 ай бұрын

Good points, I agree, I'm hoping we're at the stage of mining like the beginning of computing where a computer filled an entire room and having a personal computer in every home was a wild fantasy lol

@astroNexx 4 ай бұрын

am I the only one to notice Harrys constant shaking

@mazharsoufi5270 4 ай бұрын

I have a lot of respect for yo and what u have done for us to teach us value investment.. but wouldnt you agree with Munger (RIP) and Buffett on what bitcoin is? not investment..

@pran10000 4 ай бұрын

Munger also said something about incentive. Bitcoin is not an investment at all - it's a money directly challenging the USD. Why would those two ever say anything good about BTC?

@mazharsoufi5270 4 ай бұрын

@@pran10000 because it’s nothing but a scam with zero intrinsic value!!!!!! Maybe!!!! Dalio also is politically correct cuz he has so much longer life but if u think ur smarter than the three amigos .. Adios amigo

@pran10000 4 ай бұрын

@@mazharsoufi5270 Not a single asset bubble in history has had multiple 80% drops followed by new ATHs every time. That only happens where there is value. You can sit on the sidelines for another 10 years and watch BTC reach a million USD plus per coin. HFSP.

@davecorley5514 4 ай бұрын

Munger, Buffett and Dalio have no corner on rational thought. Nobody does. They make mistakes. Their positions on Bitcoin demonstrate that they are unwilling to leave a world in which fiat drives a machine that drives vested interests their wealth to the moon. The good news is that every individual can change their positions - love him or hate him, Larry Fink has done this.

@pran10000 4 ай бұрын

@@mazharsoufi5270 No intrinsic value? Blackrock, Fidelity etc are idiots to launch ETFS? Bitcoin is here to stay. Buffett/Munger have always said Tech isn't their expertise.. They also dismissed Amazon. Not everyone needs to know everything. HFSP man..