1665 lines
27 KiB
Plaintext
1665 lines
27 KiB
Plaintext
WEBVTT
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Kind: captions
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Language: en
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I'm going to answer the top five
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I'm going to answer the top five
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I'm going to answer the top five
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questions that investors like you and I
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questions that investors like you and I
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questions that investors like you and I
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have about Bitcoin mining question one
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have about Bitcoin mining question one
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have about Bitcoin mining question one
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what exactly is Bitcoin mining and why
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what exactly is Bitcoin mining and why
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what exactly is Bitcoin mining and why
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does it matter the answer to that is
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does it matter the answer to that is
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does it matter the answer to that is
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that Bitcoin is an international digital
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that Bitcoin is an international digital
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that Bitcoin is an international digital
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Financial payments Network it is not
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Financial payments Network it is not
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Financial payments Network it is not
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managed by a country company or an
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managed by a country company or an
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managed by a country company or an
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individual rather what Audits and
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individual rather what Audits and
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individual rather what Audits and
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secures This Global Financial Ledger is
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secures This Global Financial Ledger is
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secures This Global Financial Ledger is
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a network of computers all around the
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a network of computers all around the
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a network of computers all around the
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world these computers execute an energy
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world these computers execute an energy
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world these computers execute an energy
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intensive cryptographic process that
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intensive cryptographic process that
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intensive cryptographic process that
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helps make the Bitcoin Network safe and
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helps make the Bitcoin Network safe and
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helps make the Bitcoin Network safe and
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reliable for everybody on the planet to
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reliable for everybody on the planet to
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reliable for everybody on the planet to
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use as compensation for the electricity
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use as compensation for the electricity
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use as compensation for the electricity
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that's consumed during the process of
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that's consumed during the process of
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that's consumed during the process of
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Bitcoin mining that Miner is rewarded
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Bitcoin mining that Miner is rewarded
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Bitcoin mining that Miner is rewarded
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with newly minted Bitcoin and the
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with newly minted Bitcoin and the
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with newly minted Bitcoin and the
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transaction fees of the transactions
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transaction fees of the transactions
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transaction fees of the transactions
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that they help to settle because newly
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that they help to settle because newly
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that they help to settle because newly
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minted Bitcoin is an aspect of the
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minted Bitcoin is an aspect of the
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minted Bitcoin is an aspect of the
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reward that miners get people have begun
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reward that miners get people have begun
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reward that miners get people have begun
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to call this process Bitcoin mining as
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to call this process Bitcoin mining as
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to call this process Bitcoin mining as
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if they were mining something out of the
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if they were mining something out of the
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if they were mining something out of the
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ground question two how much does it
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ground question two how much does it
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ground question two how much does it
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actually cost to start mining Bitcoin
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actually cost to start mining Bitcoin
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actually cost to start mining Bitcoin
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this is where it gets interesting for me
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this is where it gets interesting for me
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this is where it gets interesting for me
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and my experience in real estate you've
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and my experience in real estate you've
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and my experience in real estate you've
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got to have things like down payments
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got to have things like down payments
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got to have things like down payments
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closing fees rehab costs depending on
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closing fees rehab costs depending on
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closing fees rehab costs depending on
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what kind of condition you get the
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what kind of condition you get the
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what kind of condition you get the
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property in and it may cost you several
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property in and it may cost you several
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property in and it may cost you several
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$1,000 to close on a property in Bitcoin
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$1,000 to close on a property in Bitcoin
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$1,000 to close on a property in Bitcoin
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mining there's really just one big
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mining there's really just one big
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mining there's really just one big
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upfront cost and that is the hardware or
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upfront cost and that is the hardware or
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upfront cost and that is the hardware or
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the computers themselves these are
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the computers themselves these are
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the computers themselves these are
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specialized machines called Asic Miners
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specialized machines called Asic Miners
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specialized machines called Asic Miners
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and they're really just a different kind
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and they're really just a different kind
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and they're really just a different kind
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of server after you buy the server up
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of server after you buy the server up
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of server after you buy the server up
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front the only ongoing cost that you
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front the only ongoing cost that you
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front the only ongoing cost that you
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have is your electricity bill if you
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have is your electricity bill if you
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have is your electricity bill if you
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host with a solid provider your
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host with a solid provider your
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host with a solid provider your
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electricity cost can stay low enough
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electricity cost can stay low enough
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electricity cost can stay low enough
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that you make a nice profit every month
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that you make a nice profit every month
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that you make a nice profit every month
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but if you try mining at home you might
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but if you try mining at home you might
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but if you try mining at home you might
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end up paying more in electricity than
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end up paying more in electricity than
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end up paying more in electricity than
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you actually earn in Bitcoin which is
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you actually earn in Bitcoin which is
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you actually earn in Bitcoin which is
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why this industry is so competitive
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why this industry is so competitive
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why this industry is so competitive
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people mining at home unless they're
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people mining at home unless they're
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people mining at home unless they're
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willing to mine at a loss and hold the
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willing to mine at a loss and hold the
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willing to mine at a loss and hold the
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coin for a long time aren't likely to be
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coin for a long time aren't likely to be
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coin for a long time aren't likely to be
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extremely competitive over the long term
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extremely competitive over the long term
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extremely competitive over the long term
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it really is all about chasing cheap
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it really is all about chasing cheap
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it really is all about chasing cheap
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electricity to get started in mining you
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electricity to get started in mining you
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electricity to get started in mining you
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might need around $10,000 on the low end
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might need around $10,000 on the low end
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might need around $10,000 on the low end
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if you're going to get Quality Equipment
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if you're going to get Quality Equipment
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if you're going to get Quality Equipment
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and a quality hosting provider but you
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and a quality hosting provider but you
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and a quality hosting provider but you
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can go up to a million dollar or more if
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can go up to a million dollar or more if
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can go up to a million dollar or more if
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you're looking to go big and generate
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you're looking to go big and generate
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you're looking to go big and generate
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some serious passive income unlike real
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some serious passive income unlike real
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some serious passive income unlike real
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estate though it's flexible so you can
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estate though it's flexible so you can
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estate though it's flexible so you can
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start at the level of your budget you
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start at the level of your budget you
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start at the level of your budget you
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don't have to get an entire property for
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don't have to get an entire property for
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don't have to get an entire property for
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sever 100,000 you can get one machine
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sever 100,000 you can get one machine
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sever 100,000 you can get one machine
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five machines 10 100 whatever is
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five machines 10 100 whatever is
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five machines 10 100 whatever is
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available to you at that time and scale
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available to you at that time and scale
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available to you at that time and scale
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up or down as you see fit question three
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up or down as you see fit question three
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up or down as you see fit question three
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what kind of returns can I expect and
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what kind of returns can I expect and
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what kind of returns can I expect and
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how passive is this really this is
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how passive is this really this is
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how passive is this really this is
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really the big question of all of them
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really the big question of all of them
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really the big question of all of them
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your profit in Bitcoin mining depends on
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your profit in Bitcoin mining depends on
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your profit in Bitcoin mining depends on
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a few things one is how efficient your
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a few things one is how efficient your
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a few things one is how efficient your
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machine is and two is what you're paying
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machine is and two is what you're paying
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machine is and two is what you're paying
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for an electricity and hosting costs
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for an electricity and hosting costs
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for an electricity and hosting costs
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maintenance also plays a factor in this
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maintenance also plays a factor in this
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maintenance also plays a factor in this
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but if you're working with someone like
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but if you're working with someone like
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but if you're working with someone like
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us regular maintenance and repair on
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us regular maintenance and repair on
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us regular maintenance and repair on
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small components is included in your
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small components is included in your
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small components is included in your
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hosting rate if you're hosting with
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hosting rate if you're hosting with
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hosting rate if you're hosting with
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someone reliable you might see around a
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someone reliable you might see around a
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someone reliable you might see around a
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30% return on your investment every year
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30% return on your investment every year
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30% return on your investment every year
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and that's not even considering the
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and that's not even considering the
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and that's not even considering the
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price of Bitcoin which has historically
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price of Bitcoin which has historically
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price of Bitcoin which has historically
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gone up by about 50% a year on on
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gone up by about 50% a year on on
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gone up by about 50% a year on on
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average over the last 15 years the main
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average over the last 15 years the main
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average over the last 15 years the main
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risks are that your machine could have a
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risks are that your machine could have a
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risks are that your machine could have a
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technical issue or there could be a
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technical issue or there could be a
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technical issue or there could be a
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power outage but again if you're working
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power outage but again if you're working
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power outage but again if you're working
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with a good hosting provider on this
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with a good hosting provider on this
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with a good hosting provider on this
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they will handle those problems for you
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they will handle those problems for you
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they will handle those problems for you
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so yes this really can be passive you
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so yes this really can be passive you
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so yes this really can be passive you
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just buy the machines they get plugged
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just buy the machines they get plugged
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just buy the machines they get plugged
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in and you're getting paid 247 365 days
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in and you're getting paid 247 365 days
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in and you're getting paid 247 365 days
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a year with no maintenance no tenants
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a year with no maintenance no tenants
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a year with no maintenance no tenants
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and no issues that you have to deal with
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and no issues that you have to deal with
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and no issues that you have to deal with
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question four is Bitcoin mining
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question four is Bitcoin mining
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question four is Bitcoin mining
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environmentally unfriendly this is an
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environmentally unfriendly this is an
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environmentally unfriendly this is an
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important question one that comes up a
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important question one that comes up a
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important question one that comes up a
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lot unfortunately it's very much
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lot unfortunately it's very much
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lot unfortunately it's very much
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misunderstood at first glance it seems
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misunderstood at first glance it seems
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misunderstood at first glance it seems
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like a bunch of computers consuming
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like a bunch of computers consuming
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like a bunch of computers consuming
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massive amounts of energy must be bad
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massive amounts of energy must be bad
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massive amounts of energy must be bad
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for the environment and it's true
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for the environment and it's true
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for the environment and it's true
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Bitcoin mining does use a lot of power
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Bitcoin mining does use a lot of power
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Bitcoin mining does use a lot of power
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but this is the twist because our
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but this is the twist because our
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but this is the twist because our
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electricity costs directly affect
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electricity costs directly affect
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electricity costs directly affect
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profits Bitcoin miners are highly
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profits Bitcoin miners are highly
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profits Bitcoin miners are highly
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motivated to find the cheapest energy
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motivated to find the cheapest energy
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motivated to find the cheapest energy
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possible and the cheapest energy usually
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possible and the cheapest energy usually
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possible and the cheapest energy usually
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is coming from renewable sources like
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is coming from renewable sources like
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is coming from renewable sources like
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wind Hydro or solar this is the other
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wind Hydro or solar this is the other
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wind Hydro or solar this is the other
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interesting part that Bitcoin miners can
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interesting part that Bitcoin miners can
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interesting part that Bitcoin miners can
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actually help to reduce waste in the
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actually help to reduce waste in the
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actually help to reduce waste in the
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energy market for example there's a lot
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energy market for example there's a lot
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energy market for example there's a lot
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of energy out there that gets produced
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of energy out there that gets produced
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of energy out there that gets produced
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but never used maybe there's too much
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but never used maybe there's too much
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but never used maybe there's too much
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wind or solar power production on a
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wind or solar power production on a
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wind or solar power production on a
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given day and traditionally this unused
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given day and traditionally this unused
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given day and traditionally this unused
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energy would go wasted because there's
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energy would go wasted because there's
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energy would go wasted because there's
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no buyer for it but Bitcoin miners can
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no buyer for it but Bitcoin miners can
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no buyer for it but Bitcoin miners can
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actually step in and buy that energy at
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actually step in and buy that energy at
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actually step in and buy that energy at
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a discount using it to power their
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a discount using it to power their
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a discount using it to power their
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operations so instead of Bitcoin miners
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operations so instead of Bitcoin miners
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operations so instead of Bitcoin miners
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using polluting energy sources or
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using polluting energy sources or
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using polluting energy sources or
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letting energy go to waste that's
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letting energy go to waste that's
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letting energy go to waste that's
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produced unnecessarily that energy is
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produced unnecessarily that energy is
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produced unnecessarily that energy is
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actually put to to work this also drives
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actually put to to work this also drives
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actually put to to work this also drives
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the investment into renewable energy
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the investment into renewable energy
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the investment into renewable energy
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forward as it makes these operations
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forward as it makes these operations
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forward as it makes these operations
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more profitable than they were before
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more profitable than they were before
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more profitable than they were before
|
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the existence of Bitcoin another example
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the existence of Bitcoin another example
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the existence of Bitcoin another example
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that people usually aren't familiar with
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that people usually aren't familiar with
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that people usually aren't familiar with
|
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is natural gas that's either flared
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is natural gas that's either flared
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is natural gas that's either flared
|
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which means burned off during the
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which means burned off during the
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which means burned off during the
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production of oil this flared gas is
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production of oil this flared gas is
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production of oil this flared gas is
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|
usually wasted but some mining operators
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usually wasted but some mining operators
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usually wasted but some mining operators
|
|
are now capturing it and using it to
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are now capturing it and using it to
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are now capturing it and using it to
|
|
power their rigs instead not only does
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power their rigs instead not only does
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power their rigs instead not only does
|
|
this process reduce the pollution but it
|
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this process reduce the pollution but it
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this process reduce the pollution but it
|
|
also makes fossil fuel production
|
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also makes fossil fuel production
|
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also makes fossil fuel production
|
|
cleaner and more efficient removing
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cleaner and more efficient removing
|
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cleaner and more efficient removing
|
|
methane from the atmosphere which is 25
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methane from the atmosphere which is 25
|
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methane from the atmosphere which is 25
|
|
to 85 times worse than carbon dioxide so
|
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|
to 85 times worse than carbon dioxide so
|
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|
to 85 times worse than carbon dioxide so
|
|
the answer is yes Bitcoin mining does
|
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|
|
the answer is yes Bitcoin mining does
|
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|
|
the answer is yes Bitcoin mining does
|
|
have an environmental impact but it's
|
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have an environmental impact but it's
|
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have an environmental impact but it's
|
|
not as straightforward as it seems and
|
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|
not as straightforward as it seems and
|
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not as straightforward as it seems and
|
|
it's largely positive the incentives in
|
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it's largely positive the incentives in
|
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|
it's largely positive the incentives in
|
|
mining actually drive a shift towards
|
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|
mining actually drive a shift towards
|
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|
|
mining actually drive a shift towards
|
|
cleaner cheaper energy and reduce waste
|
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|
cleaner cheaper energy and reduce waste
|
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|
cleaner cheaper energy and reduce waste
|
|
throughout the entire system and the
|
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|
|
throughout the entire system and the
|
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|
|
throughout the entire system and the
|
|
industry is innovating extremely quickly
|
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|
|
industry is innovating extremely quickly
|
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|
|
industry is innovating extremely quickly
|
|
to make the process even more
|
|
|
|
|
|
to make the process even more
|
|
|
|
|
|
|
|
to make the process even more
|
|
sustainable as time goes on question
|
|
|
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|
|
sustainable as time goes on question
|
|
|
|
|
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|
|
sustainable as time goes on question
|
|
five how does Bitcoin mining compare to
|
|
|
|
|
|
five how does Bitcoin mining compare to
|
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|
|
|
|
|
|
five how does Bitcoin mining compare to
|
|
real estate as an investment the answer
|
|
|
|
|
|
real estate as an investment the answer
|
|
|
|
|
|
|
|
real estate as an investment the answer
|
|
is in real estate you're typically
|
|
|
|
|
|
is in real estate you're typically
|
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|
|
|
|
|
|
is in real estate you're typically
|
|
buying a property that earns you rental
|
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|
|
|
|
buying a property that earns you rental
|
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|
|
|
|
|
|
buying a property that earns you rental
|
|
income and over time the property is
|
|
|
|
|
|
income and over time the property is
|
|
|
|
|
|
|
|
income and over time the property is
|
|
what's depreciating in value with
|
|
|
|
|
|
what's depreciating in value with
|
|
|
|
|
|
|
|
what's depreciating in value with
|
|
Bitcoin mining it's essentially the
|
|
|
|
|
|
Bitcoin mining it's essentially the
|
|
|
|
|
|
|
|
Bitcoin mining it's essentially the
|
|
opposite you're buying equipment which
|
|
|
|
|
|
opposite you're buying equipment which
|
|
|
|
|
|
|
|
opposite you're buying equipment which
|
|
is what you're depreciating and lose
|
|
|
|
|
|
is what you're depreciating and lose
|
|
|
|
|
|
|
|
is what you're depreciating and lose
|
|
value year toe and then as compensation
|
|
|
|
|
|
value year toe and then as compensation
|
|
|
|
|
|
|
|
value year toe and then as compensation
|
|
you're receiving Returns on your
|
|
|
|
|
|
you're receiving Returns on your
|
|
|
|
|
|
|
|
you're receiving Returns on your
|
|
investment in the form of Bitcoin so
|
|
|
|
|
|
investment in the form of Bitcoin so
|
|
|
|
|
|
|
|
investment in the form of Bitcoin so
|
|
whereas you would buy a house collect
|
|
|
|
|
|
whereas you would buy a house collect
|
|
|
|
|
|
|
|
whereas you would buy a house collect
|
|
rent and expect the house to appreciate
|
|
|
|
|
|
rent and expect the house to appreciate
|
|
|
|
|
|
|
|
rent and expect the house to appreciate
|
|
when you buy a Bitcoin miner the Bitcoin
|
|
|
|
|
|
when you buy a Bitcoin miner the Bitcoin
|
|
|
|
|
|
|
|
when you buy a Bitcoin miner the Bitcoin
|
|
miners depreciating but you expect the
|
|
|
|
|
|
miners depreciating but you expect the
|
|
|
|
|
|
|
|
miners depreciating but you expect the
|
|
Bitcoin itself to appreciate your
|
|
|
|
|
|
Bitcoin itself to appreciate your
|
|
|
|
|
|
|
|
Bitcoin itself to appreciate your
|
|
Bitcoin once you produce it can be held
|
|
|
|
|
|
Bitcoin once you produce it can be held
|
|
|
|
|
|
|
|
Bitcoin once you produce it can be held
|
|
or it can be liquidated at will so if
|
|
|
|
|
|
or it can be liquidated at will so if
|
|
|
|
|
|
|
|
or it can be liquidated at will so if
|
|
you don't have a long-term time Horizon
|
|
|
|
|
|
you don't have a long-term time Horizon
|
|
|
|
|
|
|
|
you don't have a long-term time Horizon
|
|
on holding your Bitcoin you can
|
|
|
|
|
|
on holding your Bitcoin you can
|
|
|
|
|
|
|
|
on holding your Bitcoin you can
|
|
obviously just liquidate it for cash
|
|
|
|
|
|
obviously just liquidate it for cash
|
|
|
|
|
|
|
|
obviously just liquidate it for cash
|
|
flow real estate usually offers more
|
|
|
|
|
|
flow real estate usually offers more
|
|
|
|
|
|
|
|
flow real estate usually offers more
|
|
stability due to how common it is as an
|
|
|
|
|
|
stability due to how common it is as an
|
|
|
|
|
|
|
|
stability due to how common it is as an
|
|
investment vehicle that Bitcoin mining
|
|
|
|
|
|
investment vehicle that Bitcoin mining
|
|
|
|
|
|
|
|
investment vehicle that Bitcoin mining
|
|
on the other hand is a relatively
|
|
|
|
|
|
on the other hand is a relatively
|
|
|
|
|
|
|
|
on the other hand is a relatively
|
|
untapped business opportunity that has
|
|
|
|
|
|
untapped business opportunity that has
|
|
|
|
|
|
|
|
untapped business opportunity that has
|
|
really high growth potential Bitcoin
|
|
|
|
|
|
really high growth potential Bitcoin
|
|
|
|
|
|
|
|
really high growth potential Bitcoin
|
|
mining also has no tenant risk no
|
|
|
|
|
|
mining also has no tenant risk no
|
|
|
|
|
|
|
|
mining also has no tenant risk no
|
|
property tax and is extremely mobile the
|
|
|
|
|
|
property tax and is extremely mobile the
|
|
|
|
|
|
|
|
property tax and is extremely mobile the
|
|
machines that you purchase can also be
|
|
|
|
|
|
machines that you purchase can also be
|
|
|
|
|
|
|
|
machines that you purchase can also be
|
|
used as a tax write off similar to capex
|
|
|
|
|
|
used as a tax write off similar to capex
|
|
|
|
|
|
|
|
used as a tax write off similar to capex
|
|
on your properties with any new
|
|
|
|
|
|
on your properties with any new
|
|
|
|
|
|
|
|
on your properties with any new
|
|
technology like this there is a bit of a
|
|
|
|
|
|
technology like this there is a bit of a
|
|
|
|
|
|
|
|
technology like this there is a bit of a
|
|
learning curve however with a capable
|
|
|
|
|
|
learning curve however with a capable
|
|
|
|
|
|
|
|
learning curve however with a capable
|
|
hosting provider and phenomenal service
|
|
|
|
|
|
hosting provider and phenomenal service
|
|
|
|
|
|
|
|
hosting provider and phenomenal service
|
|
Bitcoin mining can be a far more
|
|
|
|
|
|
Bitcoin mining can be a far more
|
|
|
|
|
|
|
|
Bitcoin mining can be a far more
|
|
profitable and hands off passive income
|
|
|
|
|
|
profitable and hands off passive income
|
|
|
|
|
|
|
|
profitable and hands off passive income
|
|
Opportunity by comparison to rental real
|
|
|
|
|
|
Opportunity by comparison to rental real
|
|
|
|
|
|
|
|
Opportunity by comparison to rental real
|
|
estate at abundant Minds we're pretty
|
|
|
|
|
|
estate at abundant Minds we're pretty
|
|
|
|
|
|
|
|
estate at abundant Minds we're pretty
|
|
selective about who we work with but if
|
|
|
|
|
|
selective about who we work with but if
|
|
|
|
|
|
|
|
selective about who we work with but if
|
|
you've watched this and you think that
|
|
|
|
|
|
you've watched this and you think that
|
|
|
|
|
|
|
|
you've watched this and you think that
|
|
it could be a fit for you visit us at
|
|
|
|
|
|
it could be a fit for you visit us at
|
|
|
|
|
|
|
|
it could be a fit for you visit us at
|
|
abundant minds.com or follow us on
|
|
|
|
|
|
abundant minds.com or follow us on
|
|
|
|
|
|
|
|
abundant minds.com or follow us on
|
|
Twitter or Instagram @ abundant minds
|
|
|
|
|
|
Twitter or Instagram @ abundant minds
|
|
|
|
|
|
|
|
Twitter or Instagram @ abundant minds
|
|
and message us passive to set up a
|
|
|
|
|
|
and message us passive to set up a
|
|
|
|
|
|
|
|
and message us passive to set up a
|
|
consultation and get our free resources
|
|
|
|
|
|
consultation and get our free resources
|
|
|
|
|
|
|
|
consultation and get our free resources
|
|
to see if this could be a good fit for
|
|
|
|
|
|
to see if this could be a good fit for
|
|
|
|
|
|
|
|
to see if this could be a good fit for
|
|
your next step in your investment
|
|
|
|
|
|
your next step in your investment
|
|
|
|
|
|
|
|
your next step in your investment
|
|
Journey also please remember to like
|
|
|
|
|
|
Journey also please remember to like
|
|
|
|
|
|
|
|
Journey also please remember to like
|
|
subscribe and leave a comment with what
|
|
|
|
|
|
subscribe and leave a comment with what
|
|
|
|
|
|
|
|
subscribe and leave a comment with what
|
|
was most helpful for you thanks for
|
|
|
|
|
|
was most helpful for you thanks for
|
|
|
|
|
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|
|
was most helpful for you thanks for
|
|
watching
|
|
|
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|
watching
|
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watching
|
|
[Music]
|
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|