Digital Spaceport Tries To Sell Me on Chia

Uh what's up scientists blindroid with Son of attack once again and joining me Today is Jared from digital Spaceport YouTube channel and you can follow him On Twitter at go Spaceport welcome to The channel my my friend Hey how are you doing man it's uh good To get back in contact with you had fun At your Meetup that you had after Consensus good to meet people in person Whenever it's you know a crypto kind of Vibe and have a couple beers talk about Crypto yeah thanks for coming out I was Surprised we had uh your friend Andy Come out too and I didn't even know who It was and I'm looking it up later I'm Like oh dang that guy that guy's got Some got some good stuff going on lately On YouTube and Twitter and everything so Kind of good to like meet people face to Face too and like I think once you're Able to do that it's definitely easier To start networking and all that right Yeah and I mean consensus was kind of a Harder Vibe this year than last year so It was good actually your event was kind Of more fun than some of the other Events that I went to uh it had just Kind of a little bit more upbeat a Little bit more laid back and it didn't Vibe like the bear Market kind of Vibes That you were getting elsewhere so it Was really a fun time did you go to Consensus last year as well in 2022

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Yeah I just did like the locals thing Kind of I I like sign up for all the Free stuff go drink coffee booze this Year was much less free booze uh much Less free stuff much it was it was a Different vibe That's interesting because I think near The end of last year I went to the Mining conference in Round Rock At the Kalahari And it was like that was like bear Mark Yeah bear Market Blues like hardcore Like nobody was showing up for the Speeches like the the conference Hall Was like opening late every day Literally everybody's hungover and it Was just like it was It was pretty brutal to go sit down and Watch you know because you're just like Oh you could feel it right everybody's Just kind of depressed like oh man Um I think even at that time I had a Run-in with uh one of the bigger mining Companies that's now going bankrupt or Whatever And I kind of talked to him and then Later he DM to me I was like can you Help me get a job and I was like That sucks Yeah it was those kind of vibes Your event was a lot of fun out there it Was a it was a good day good afternoon Yeah we should do the uh the event again For sure

Um I want to do a meet up in Houston and One in Dallas at some point try to work It around some sort of crypto events That are already going on there Seeing that it it seems like we can pull At least a few people which is fun right And kind of just sit down and chat and Go from there so you're a YouTuber as Well tell everybody what you do where Your YouTube channel is and what you Cover primarily So yeah I mean I mainly cover home Labs I've been into Linux for quite some time Uh I kind of have been a crypto Miner For a long time also but you know I uh Mainly cover Chia which not necessarily The most popular cryptocurrency among The GPU crowd but it's something that a Lot of people that are into GPU mining Have been looking at a second time here Recently and so yeah I've been doing That since uh right after made in that Launch and uh I enjoy it it's easy to do Is kind of the other really nice part And having been a GPU Miner up until Then and you know I still have a small GPU Farm but not like 70 cards or Anything like that uh it's it's really Much less overhead for me to manage and Maintain it just runs in the background It's all on Enterprise gear and it just Works and that's easy you know yeah is It all kind of like hand-me-down Enterprise gear that you snag off of

Like things like server monkey and stuff Or or is it dcom gear from work No so almost everything I've got right Now is stuff that either I drove to pick It up uh on like a crazy road trip to Get all the quad socket servers some of The other things I got off eBay and then Most all of the disc shelves and stuff Like that I got uh off of a gov deals Thing we bought out like a huge shipment I mean I got way in over my head on Buying a shipment of uh Hardware Enterprise Hardware uh from Lawrence Livermore National Laboratories and I Had no concept of freight and how Difficult it was going to be to get Freight shipped but 11 pallets later I Think I've learned a lot and I'm Probably not going to do that one again But yeah it's just setting over here let Me point the camera at it real quick see If everybody can sure check out here We'll get uh boom Nice so that's the that's the Chia you Got three racks there Um and then is that are those all Synologies on there right no those Aren't never mind what are those on the Right These guys here are de 6600s so they're 60 Bay J bods and they uh these things Are pretty sweet yeah they're uh they're Really easy to utilize open them pop Them you don't have caddies for them so

Very easy to use and uh SAS based so not really difficult to Like manage from an interface standpoint Not like some of the other things that You might run into like in a band fiber Channel and stuff like that nice I'd Show you my mining form behind me but This is fake it's all a lie Green screen lies man green screen lies Yeah But luckily those are my rigs they are Not as profitable as the Chia mining From what I can tell right now though so There is that how how is your Profitability what does power Consumption look like Um does that eat into a lot of your Costs for running Chia So that's actually the reason that I Mean there's a lot happening Regulatorily and I mean I mean we just Saw today what came down from the White House mining tax on 30 you know that They're proposing on cryptocurrency Generators that's going to be pretty Devastating to a lot of things so really I try to have a portfolio that is like a Little bit higher risk and a little bit Lower risk she is definitely lower risk Um because it doesn't use very much Electricity so like if you're looking at How much electricity I'm using right now I'm using somewhere in the neighborhood Of about

12-ish dollars or something like that so I mean that's per day so that's not Terribly on how much kilowatts Yeah so my kilowatt rate is 0.9825 so It's a really good kilowatt hour and I Mean when we bought the house we kind of Had that in mind because I was GPU Mining at the time uh and like I've got About 3.1 uh Tibby bytes which is 3100 Tibby bytes of space I've got the three Rigs and so it's really not terribly High on the kilowatt hours I mean I'm Like 12.38 or something like that for the Kilowatts to farm daily that's not much As far as like the actual electricity Cost so it's it's actually very low and I'm making around 34 35 a day depending Upon whether I hit a block or not and uh Every two days or so I hit a block so That's pretty cool and yeah I mean it's Consistent right now it's been very Consistent and uh That's it the start was rough I've got To say the start was rough but it's been Pretty consistent for the past about six Months the earnings on it that you're Looking at as a part of I gotta catch up On Chia because it's been a while Obviously I interviewed Bram Cohen like A year ago now at this point I also did Some of the early guides on plotting Back when it was like CPU I think there Was some very early GPU plotting that

You could do Um I believe I was actually utilizing Threadripper at the time Um and then plotting to uh basically a Nas server that I had set up Actually no it was plotting to I don't Even remember I think it was a just a Raid zero I was probably messing it all Up it's been a while Um So I'm not all right yeah it was there Was a lot going on that you had to Change and it's all A lot's changed now Right so Everything's NAD GPU plotting GPU Farming so the GPU does the Decompression and the compression of the Plot so there was a novel Helmet attack if you want to look at it That way that happened and that allowed You to actually use the GPU to solve on The fly the first several tables so that You get actually the same amount of Proofs uh stored as hashes inside a plot But you're able to have a significantly Reduced size footprint so right now with A C8 compression level on the Mad Max Gigahorse platform you're looking at About 42 percent more space so your one Petabyte or something like that of space Would be 1.42 petabytes of space okay Got you affected and then it doesn't Sound like you're pooling because you Said when you find a block where where

Is pulling come along now at this point So pooling's come a long way and uh like I'm on Space farmers and you can just Search for digital Spaceport on Space Farmers and follow along with me I do Pool okay and this is like one of the Cool things about Chia is the consensus Formation even if you're pooling you Form the block locally at your like this I form the block here at my house uh and So that allows you know me to also Participate completely in the consensus That's why you also have to have a Completely synchronized blockchain and That's why there's so many full nodes of Chia that are running out there is Because too far you do need to have a Fully synchronized blockchain so when You're looking at like where consensus Formation happens it does happen locally And I get 0.25 xch for each one of those And the pool takes 1.75 okay got you so You get an additional reward essentially If your actual firm itself finds the Block Yeah so if I was solo and I've I've done Solo before and I've got to be honest With you solo is boring and lonely so It's fun to you know kind of sail the Ship with other people uh but when You're solo you do you get the full two Yourself it does split if you've plotted With the plot nft 1.75 and 0.25 but it All comes together in your wallet at the

Same time so yeah but you do get two xch Right now 2024 that changes and we've Got the having and you'll be at one xch Okay gotcha cool all caught up with Chia As far as that's concerned why not Why not something like file coin Or storage I'm not opposed to Well so store J I don't know about that One too much but file coin I'm not I'm Not like opposed to any of them as a Matter of fact there's a couple cool Ones that I would recommend if your Audience is interested in checking out There's a couple that'll be early like Space mesh they're yet to really get out There and also MMX which is uh Mad Max Actually the guy that came up with the New technology and he's actually a GPU Programmer so he was uh the guy that Wrote The Mad Max plotter that kind of Changed things uh drastically from the OG plotting that you were probably Familiar with initially and so that Really revolutionized how people were Plotting you didn't have to waste tons Of nvme and stuff like that because most Of it started happening in Ram and so he Said in his GitHub repo back then he was Like I'm gonna start working on GPU and It'll happen and sure enough it has Happened and so he's now got it to where You can use 256 gigs of RAM plot fully And RAM have a C8 and it's done with one Plot in about two minutes so really nice

Way faster yeah okay yeah because it was Like 30 minutes before it was it was Painfully slowed yeah that's pretty Quick so how much how long is that to Plot like a petabyte So I mean it depends how many rigs you Throw at it and what kind of networking You have like I've got 40 gigabit Networking that I use to move my plots And so I can move a lot of plots really Fast and I also use uh true Nas and Raid 0 arrays of 12. so I have 12 per stripe And so that puts my spindle speed quite High like 2.2 gigabytes per second so I Can write really really fast to each one Of my arrays and since I've got so many Arrays I can kind of span that out and Write to each one so I can get done with A petabyte easily in about a week in a Couple days okay nice we should slow Down for some people and we're going to Get into it speak too much uh for Everyone I think the uh what was the There was one term you used that we Should probably clarify I forgot what it was now uh stripe Like I think people understand raid well Maybe not Yeah so a raid zero array just means Striped which means essentially you Don't have any redundancy redundancies When you have a copy of the data on Another Drive Um but I forgot what it is now but like

When you were blasting through it I was Like oh I know what that is but we Should clarify and now I can't remember Oh Um the software you're using to manage It uh you said was true okay there you Go so yeah sure Naz is free and open Source software really good stuff let me Are you gonna edit this no yeah Yeah that's perfect so true Nas is Really good stuff and I mean it's open Source it's free it uses zsf there's a Couple things that you might want to set And I've got some like specifications Explain that real quick So The best file system let me just start a Fight with I see everybody out there the Best file system that's ever happened no I am joking but it is for True Nas it Gives people a really good user Interface which is Handy for people that Are new to anything and it's open source And free and you don't get all that Really with a lot of other software out There so trunes scores big points for Doing that I use true net scale and that Allows people to you know graphically See and create their storage pools and Create NSF shares and also Samba shares If they're on Windows nice okay Um and then you what format are you Putting them in for the share and moving Them over I mean obviously you said you

Had the 40 gigabit networks but I Actually like yeah I'm trying to recall So the plots I mean you're just moving The plots over to those Raid 0 arrays or Whatever And then it's just and so the data Shared okay yeah so the data share is Just straight up a ZFS raid zero array Of 12 discs about 150 terabytes each one Uh and I mean that's basically just Where I store all of them I mount each One of them as an NFS because I use Linux for almost all of the stuff I do And uh that just right directly to them I don't need to write to a temp buffer I Don't need to write to an SSD just write Directly to them nice sick sweet all Caught up I think we're good to go Um if anybody has any more questions That they can check out your channel Right digital Spaceport and you go over Everything in more detail Yeah I cover a lot of chia stuff on There so it is definitely a Chia heavy Channel I do some home lab stuff also so I try to bridge the gap because there is A lot of Uh technical that happens in Chia it's Gotten easier it's gotten faster but It's still a lot of technical so I try To bridge that Gap with some just General generic home lab content like 40 Gigabit networking uh true Nas stuff Like that yeah and I mean I've even

Found like supplementing that on my Locals and stuff and doing written Guides for like Linux has helped a lot Where I don't have to I can be like hey There's a whole like Linux command line Starter guide over here go go through That first before we start talking about Building nodes or whatever it is or you Know here's what a virtual machine is go Check that out and figure that out and That's that definitely I mean Encouraging though that I I think cryptocurrency has brought a Lot of people into the the it space a Lot of people understand it a lot more Than they used to Um You know with without a you know formal Schooling and stuff which is also you Know a big point which I think is great I think it's been amazing Yeah it was about three months into the Channel and somebody commented that they Uh got a job in I.T and they didn't Actually have any Linux experience Before I got them just kind of threw Them into Linux and then they started Learning and deep diving on it and they Became like a junior system Administrator I thought that was really Encouraging and great to hear so that Was uh that was a an early Kudos that I I was like wow I didn't actually think I Would have that kind of impact on

Anybody but yeah it's fun that's awesome That's good to hear so you brought up The mining tax earlier Thirty percent uh is what's proposed by The Biden Administration on specifically Cryptocurrency mining which Maybe I can get your thoughts on that First of all is discriminatory it seems Like you're discriminating against a Business type which is kind of Interesting Um and then this would be I mean correct Me if I'm wrong with this would be the Largest tax implementation the the uh a President's ever made right normally Presidents don't ever Implement a tax Because that's like a for sure don't get Re-elected move right Yeah so it's going to be interesting uh This election coming up I mean uh that's For sure I mean the economy the macro Everything that's happening right now I Think it's gonna weigh pretty heavy on People's minds when they're in that Booth but when you look at a 30 tax on a Specific industry I mean and I I Personally feel like it's going to be Everybody in cryptocurrency production I Don't think that it's going to be just Mining I think that it possibly is Staking farming everybody no matter what You call it if you are a producer of Cryptocurrencies they're probably going To tag you and be like we want that 30

And so I mean if you look at like how You could necessarily you know have an Operation in the United States you got To start looking outside the United States really either that or have an Off-grid system and that's just that's Just not viable still so it really Becomes very difficult in the United States so I think uh we're in for some Interesting times I don't I don't know What to say other than I'm incredibly Disappointed with the cryptocurrency Lobby in the United States I feel like They have I I have no idea what they do I have no Idea what they do but it doesn't seem Like they ever score a win I can't name The last win that they scored can you uh I mean within local government yeah we Had Montana past their bill Um that actually is supposed to block a Federal tax which is going to make Things interesting too I've been saying This for some time I think that Cryptocurrency mining is going to become A states rights issue uh not dissimilar From uh marijuana and so on so I I think It's going to be very interesting Um Because the more you try to stifle that Industry if that industry has ingrained Itself already within an individual State that's benefiting from it right From an energy grid perspective and all

Of that I think you're gonna have a hard Time enforcing it as a federal Government right it gets really weird I I I I mean so here's how I envisioned It The IRS has got a new check box are you A Christian are you a cryptocurrency Miner do you produce cryptocurrencies What was your electric consumption that You utilized for that and you know Here's how you calculate your 30 so I Mean it it it doesn't have to be a Complex way that they would come after People but it does seem like the actual You know tax being levied and Originating in the White House is not The venue or that directly yeah I don't Think that's the venue for that isn't That like the Congress it's not usually Yes but I did look that up and Technically presidents are allowed to They just never do because they never Get reelected if they do in fact that The party doesn't get reelected Typically if they do right so Interesting I was curious to the Legality of that I did read up on it and I was like okay so they can do it you Know Um but typically a president wouldn't do It because he won't make it a Re-election the question is is how Strong is the bad for the environment Narrative

When speaking to his constituents right So that's where it really come where it Really like you know rubber hits the Road if if that narrative has been sold And it's taken wholesale by his Supporters then maybe it doesn't matter Right Um you find the timing on everything Just a little bit sus I have I mean I Have a very emerge when all of the talk About regulations started coming out it Just seems like it was really well timed Like the delivery of bad news for crypto Has been very one two three punch kind Of so I mean I don't know It it seems like it's very well thought Out very very carefully orchestrated and That has me feeling like We are in for a bigger problem and Possibly as producers of cryptocurrency In the United States than we really Expect I I mean Until they go oh crap now Russia because Of sanctions is just going full force Into Bitcoin now I don't know there's there's too many There's too many Um variables to say that it was I think orchestrated I think there's definitely some Orchestration in some things right like I would just say in the administration Side they've done a really good job of Laying out because they have right

Around the merge a bunch of different Papers that came out like four different Papers that they produced that have led Up to now the attacks that they're Proposing and it was like they've They've been framing this and setting This framework for what's coming down The pipeline for six months and so it Does seem like they have definitely Orchestrated on their end not saying They've orchestrated with other people Yeah but they've definitely on their end Done a good job of timelining this and Delivering pretty devastating uh Possibilities for the crypto industry at Typically usually the worst times when Things are going bad or there's an FTX Or something like that that's happening And but we're also it's something that I'm scared about for sure I mean we got It's not far away I don't think that this plays well is What I'm saying I just don't think it Plays well Um you they don't really talk about what They're gonna do for the people that are Impacted I did read the White House's Statement on this and while they talk About you know the tax they don't talk About What is the tax going to be used for are They going to do noise remediation is There going to be like carbon offsets They're going to buy like what is

What is it fix up what they're going to Do they just talk about this is a Problem and this is how we go after it They don't talk about here's what we Want to see happen to be Solutions Towards it and I know a lot of Cryptocurrency operations are kind of Remote right I mean most people aren't Like let's put this right in somebody Else's back most crypto yeah large Operations are being deployed very close To substations right and in Texas for Example that's gonna be I mean if you're Talking about when they're utilizing Renewable or flare gas which Is renewable and reproducing waste but Nobody wants to hear that that's why I Say like it depends on who believes the Narrative because the narrative's false Right Um but that aside well the gas is going To flare at any rate if you live in Texas and you ever drive east of 35 the The gas is going to be flaring no matter What well and if it runs through a Natural if it runs through a generator It's cleaned up the process is cleaner Than burning it straight into the Atmosphere that's been proven too so It's better for the environment to run It through a natural gas Generator and power Bitcoin mining right It's it's just a little it's crazy yeah I mean what the Bitcoin mining industry

Is over 60 percent Renewables which is More than any other industry Currently out like there's no other Industry that's on Renewables at that That rate right so let me ask you the Narrative doesn't make sense Are they building the Renewables or are They just utilizing the Renewables that Electrical infrastructure out like the Electric providers biggest one right the Biggest one right now is utilizing wind Generation because there were all of These incentives to build wind Generation and none of it's being used Or a lot of it isn't being used and a Lot of it has the same Pro a similar Problem to flare gas obviously it's not Gas pressurized in the lines but a drop Off of amount of energy through the Delivery from the point where it's Generated to where it needs to be Delivered right and that drop off that's Typically where you're also seeing the The new mining locations right so it is Utilizing infrastructure that has been Put into place Um already a majority of it is like from What I've seen right so this is Partially anecdotal unancdotal is that We have a high percentage of Renewables For for cryptocurrency anecdotal is Seems like wind farms are what where Things are getting deployed right now Right if that makes sense

So if you're building your own wind farm And running your own cryptocurrency Operation I can't see how imposing a 30 Tax on you would make in like that Shouldn't be you know but I I don't know How much it is to build a wind farm I I Would imagine it's quite a few million Dollars but when you look at the scale Of yeah when you look at the dam in New York that they're trying to shut down That was rebuilt up by the the crypto Miner so that they could mine out of the Dam they still want to shut that down That's renewable I didn't even read about that one I had No idea about that yeah so they uh they Like literally refurbished a dam started Utilizing the power to mine Cryptocurrency and then they're calling It bad for the environment and they want To shut it down the The Narrative Doesn't make any sense right like that's The problem and and that's why I say I Think it comes down to who believes it Or not right and and it's gonna Unfortunately be one of those same Topics that we always run into whether It be marijuana abortion Second Amendment cryptos just looking like Unfortunately it's falling into one of Those baskets right I hate to see it but That's what it sure feels like right and Then it's not going to be about what the Fact is it's going to be about which

Narrative or which side are you on right And that's it Yeah things get hyper political really Quick especially nowadays so it's it's Like you know the the the reason debate Doesn't happen which is unfortunate a Lot of the times but I mean if you look At a lot of States out there I think That Bitcoin is certainly the Predominant energy usage I didn't know This also in the statistics they were Presenting they were using 2022 Statistics for the kilowatt usage uh Megawatt usage of the industry that's Got to be down quite quite a lot in 2023 Right now right like this no it's a Bitcoin specifically yeah so for Bitcoin It's up okay for the rest of the Industry it dipped remember when Everybody went bankrupt all those Machines came back online uh we tracked This I think with this this was all Going on what between January and March When we had all the bankruptcy of the Miners and then they recovered right the Miners weren't all recovering but Another thing that took place there that A lot of people missed was that lenders Were powering on the machines Yeah I know there's some big stuff Coming down the pipeline with a large Mining operation right Genesis well I Mean a lot of them but um I mean yes but we're re they're

Rebuilding we're adding more hash rate To the Bitcoin network not reducing it Right now so if we look at the GPU side Of the coin though that's dropped off Quite quite a lot right yeah but gpu's Always been a drop in the bucket Compared to bitcoin that's why Bitcoin Can't be attacked by a nation but like You could still like a nation could have Probably still attacked even ethereum Like the security as much as they want To say they were overpaying for it was Not I don't think they were overpaying For it right Um yeah That can be an argument that probably is Best to be had with somebody that's Extremely knowledgeable on the subject Like uh bits be tripping because he Covered that a lot on his channel but That I mean that was my understanding Though is like even even still the GPU Mining Market was a drop in the bucket Compared to Asics just is Yeah I mean and there's also a part of Me that when I do look at like how I've Strategized kind of what I'm in as far As cryptos I I mean Chia is low electric usage so I Don't think they like hard anything hard Drive based is going to be pretty low Electric usage proof of stake I'm kind Of bearish on I think there could be a Lot of you know issues that come up with

That that we'll see whether or not the SEC wants to get involved with It feels like they want to force Everybody into proof of stake and then Call it a security That that's a that that's kind of my Take on it also I mean If you look at Gatsby's I was looking at Gas the other day I was like damn it's Just as expensive as it ever has been Like yeah like nothing changed yeah It's changed over there yeah it's it's Still it's not faster Yeah but I mean I think you know it's Interesting when you look at like what Happens next I I think there will be a Next wave of cryptocurrencies certainly Hard drive-based cryptocurrencies Probably are gonna fare a little bit Better I mean if you're a small scale Operation can you get by even you know Doing it kind of under the radar Probably if you look at CPU operations I Mean unless you're running like a ton of CPU operations you can probably get by Under The Radar on that as well and you Know it's just where's the profitability At usually drives where the people go Well the problem is we don't see the Problem with CPU mining is it's Basically who's the better hacker I mean That's really all CPU mining is just can You crypto jet how many how many data Centers can you successfully crypto Jack

And stay hidden on that's why I never Like from my perspective being like in The I.T world and like battling and Fighting crypto jacking all over the Place Whenever it's like why don't you CPU Mine it's like because why would I pay For something that everybody else is Getting for free that just seems stupid To me I'm not I can't in my head I'm Like I'm not gonna do it because like All I'm doing is buying something that Everybody else is getting for free So you're not in on diro then okay yeah I know I think on free Azure credits or Something like that last I heard so I'm Out on diro for sure but uh yeah I've Got to say I mean there's a lot of Interesting cryptos out there but There's a lot that just I don't think they'd pull through and Like if you were looking at like what is The next ethereum that's a good question What do you think is the next ethereum Uh if I'm talking completely objectively Right you would say iron fish Really yeah VC back I mean okay completely shitty Tokenomics that favor the development Team in the in the in the investors and Screws over the miners it is par for the Course exactly what ethereum was it has All the same markings of it it can be Manipulated to Heck from a token

Perspective I mean like the way they Locked up the coins for the initial Investors yeah dude of course It's Iron Fist does that have you Bullish I made it I did I did make a Video already I said I'm bullish on the Mining for iron fish right Um but it's not there's always this Problem within cryptocurrency that will Continue on probably for forever and That is that is the different making the Distinction between as a minor what you Mine to be profitable right And as a crypto punk what you hate Because it's not fundamentally sound With your principles right and there's There's always that issue right I still Mind ethereum I never agreed with what Ethereum was doing right it's never like I mean a majority of the ethereum unless I accidentally forgot got converted to Bitcoin like boom as soon as it was Mined right Um which is probably what will happen With iron fish and then they'll complain About overpaying for security and They'll move to proof of stake or Whatever it is and then we'll just it'll Move on right Um You Gotta you gotta be looking at any Proof of work cryptocurrency right now And thinking to yourself there's a lot Of discussion that's happening today as A result of what the White House has put

Out around what they do next and I mean There's huge risk going proof of stake Also you go proof of stake right now It's not like the SEC has not said hey If the majority of your you know Validators are in data centers and United States that we're not going to Have purview they're taking the opinion They do have purview because the Majority of your validators are Headquartered there so I mean your Actual consensus formation mechanism Starts to become pretty darn important And I think we'll see some consensus Upgrades Surrounding those kind of discussions Over the next several months I'm not Saying specifically with iron fish but I Think there will be other cryptos out There that are starting to look at how Can we make sure that we survive Whatever comes down the pipeline and Also have distribution that is not Centered especially in the United States For that specific reason well and that's Been a big problem that I talked to I Think by the time people watch this Video that I talked to Daniel Keller About Last week which was you know like Unfortunately all the United States is Doing right now is stifling Innovation Within blockchain within the within the Borders I mean flux is not based out of

The United States because it just Regulatory wise cannot be based out of The United States they make it literally Impossible and that is par for the Course across the entire crypto industry And then people say like oh how does FTX Happen well FTX happened because it Doesn't really matter how hard you try To be regulatory compliant or whatever It's actually impossible for you to and You'll apply apply get denied get denied Get denied and then they go off shore And then there's less You know stopping them from doing Something wrong or that that's pretty Much how it shakes out Yeah I think you're spot on as soon as You go offshore your your incentives to Comply with the regulations that in the United States are just not well Specified and I mean that they're not Well specified is in itself just Shocking at this point because they Should actually be incredibly well Specified even if Securities Law is Securities Law it wouldn't hurt to put Out a guidance packet for Cryptocurrencies that says hey by the Way are you doing these things you're Not going to pass the Howie test so that People know we know what the real Problem is though I mean like even uh Kennedy the who's running now by the way Shockingly he tweeted out today in

Support of cryptocurrency and against Spoke out against the cryptocurrency Mining tax And Acknowledge that cryptocurrency was Basically you know the next Innovation The next move forward but also on the Same coin noted that the powers at B Lose power if it gets if it becomes a Thing and and so if we're being Completely honest The Regulators lose The regulation power if Bitcoin becomes A thing like that's a problem that you Have it's like you you oh yeah you get Regulation from the very get-go From people that are hurt by the thing They're regulating is never going to Work right it's like um it's like There's vested interest there's huge Vested interests and they've got Lobby I Mean there's huge lobbies that are very Well funded and they're better funded Than the crypto lobbies I am going to Just throw a wild guess out there that They are I don't know that but I'm gonna Guess they are and I mean when you look At Trad five they're not going to go Siloally here they're definitely not Going to go silently here when you look At AWS when you look at Azure when you Look at Microsoft and the data centers They're putting together are they going To just comply and roll over with web3 And people being able to deploy their

Own cryptocurrency based incentivize Networks for a quarter of the price that Are able to do the same thing I mean That's where it becomes very difficult For what happens next to run in the United States it actually might be best If it didn't run in the United States Well I hate to say on the same on the Flip side though you end up just being In a here's where things get really Weird they try to shut down torrents for As long as they could as much as they Could and Torrance never got shut down To this day right the fact of the matter Is is that no single nation is going to Be able to stop cryptocurrency even Within their own borders no matter how Small the nation is either right because You have to consolidate that control Down to a very localized thing to be Able to control it and that's just not Going to work in a country the size of The United States of America and if you Try to do it all you end up really doing Is just exacerbating the issue right It's just like pouring gasoline on the Fire because you're printing all this Money right you're devaluing people's Homes and then you're making things Extremely difficult on them to function Maybe they did find cryptocurrency Mining as a way to actually supplement Their income and now you're hammering With this which also was weird on the

White house.gov did you see the chart That had like crypto home mining is one Of the things like specifically Targeting crypto miners at home They're they're paying attention like They're paying my crypto miners that Just tells me they just they they want To crush the American public and or at Least that's what's going to happen and At a certain point it's gonna be like Well I can't afford to pay the 30 tax so What are you gonna do to me are you Going to arrest everybody and throw Everybody in jail how are you gonna you Just can't do it it's not IRS will find You the IRS will for sure be like we're Gonna fight you but I mean they have to Come they have to prove it it's a whole Big thing like are they gonna Come to everybody's home and do this no They can't do that but are you going to Are you going to commit perjury on your IRS form by not checking a box that says Are you a producer of cryptocurrencies That's where they get you right that Right and that is an incredibly powerful Checkbox that yeah I don't think it Exists yet but probably does exist if it Does it just what my point is is if you Put too much pressure on people Eventually they break they're just not Like if you're incapable of of Shouldering the burden of the state you Will turn against the state

So you end up having a really bad thing There push to see that actually happen Then that's a good question how much Further do they have to push for that to Actually happen well I mean I mean That's a great question I I would have Thought that some things would have Started breaking I guess in some areas You know we're very you're a Texan as Well we're very isolated right now in Texas I think to a certain extent There's got to drive a long way to get Out of Austin that's for damn sure yeah And there's not you know but it's hard To say like Walmart shutting down in Washington State New York right I mean you wouldn't Think I mean Walmarts would be getting Shut down I mean especially for theft San Francisco's got some of the most Expensive stores and they're shutting Down too and it's like that is like one Of the most expensive retail districts In the United States it's starting to Look like we're going in a bad Direction That's I mean and if it gets to the Point to where people can't go out and Enjoy the standard of living that they Previously could and then you impose an Uh exert like exogenous taxes on them And make it even more difficult for them To survive eventually yes like and I do I know how long that is or it will for Sure will happen no but I mean it's

Happening in France right now right I Mean to a certain extent Um you I it I I think I think that crypto will be at The center of that too which is like a Weird thing to say but like and a little Creepy but I do think crypto becomes a Center piece within that within this Struggle right the same struggle that We've seen in the world since the Beginning of time right which is the Struggle of power it really is it's the Power of the few over the many and like It's the same struggle that we always See and I I think that Bitcoin and Cryptocurrency in general is that that Centerpiece for the digital age I think you're spot on and I think that It it's always everybody trying to claw As fast as they can to get to the top And then as soon as you get to the top You're looking at how you can prevent Others people from getting to the top It's it's unfortunate part of human Nature almost but it doesn't incentivize People to look at what they're doing Evaluate what they're doing and make Good decisions uh in the future Especially the near-term future with What they do because it is important to Consider what happens next and it's easy To lose sight of you know the personal Things in your own life and the bigger Implications for future generations and

I think we're at the future Generations Kind of talking point for what kind of Changes happen in the United States here And that you know is something that I I Take pretty seriously yeah well thanks For coming on man it was fun talking I Am going to get to dinner though Um I enjoyed having you on you have to Come back on can you remind people where They can find you at Yeah you can hit me up at go Spaceport On Twitter you can also find me on YouTube and that is digital Spaceport You can also find me on the website Digitalspaceport.com and I hope Everybody has a great rest of your Evening and thanks for uh giving me the Chance to talk so I really enjoyed it And we should definitely do an in-person Thing again I had a lot of fun yeah Let's do it maybe you can come help me Out in like Houston or something we'll Figure out and like schedule a whole new Thing Thanks everybody for watching I'll leave All the links Down Below in the Description I think you know how to find It at this point YouTube's been around For like over a decade you know it's Been around I'll see you next Tuesday Today's sponsor is myself I recently Launched a crypto mining e-course at son Of a tech.com and it includes nine steps To cover when you decide to start your

Crypto mining Journey this is Specifically pertaining to 2023 crypto Mining profits and taking advantage of The DOW market to achieve skyrocketing Growth as we move into the next having Of Bitcoin you learn buying mining Equipment in a bear Market using outside Investment to speculative mind begin Mining once profit is established sell Mine crypto to pay for electricity hold And prep for the Bull Run sell at the Top of the bull market sell mining Equipment at the top of the bull market And begin investing in land and power so That you can bring in outside investors To utilize excess resources thanks Everybody for your support and I hope You enjoy the course let me know what You think of it in the comments section Below

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