Show Notes
In this episode Saifedean talks to Ben Gagnon, Chief Mining Officer at Bifarms, a Canadian bitcoin mining company that accounts for 1-2% of global hash power. Ben tells the story of how he became involved in bitcoin after missing an opportunity to buy 100 bitcoin for $70 in 2010. He and Saifedean discuss when it makes sense for people and companies to mine bitcoin, whether it’s a good idea to invest in bitcoin mining companies, and how events such as China’s recent mining clampdown will affect the future of the industry.Links referenced:Bitfarms WebsiteThe Blocksize War by Jonathan BierBitvo interview with Ben discussion bitcoin miningThe following links relate to Ben’s comments about bitcoin regulation in China leading to a pump in Ethereum’s price during early 2017:Jan 6, 2017 – PBOC issues warning and asks for bitcoin withdrawals to stopFeb 9, 2017 – Bitcoin exchanges stop allowing bitcoin and Litecoin withdrawalsFeb 16, 2017 – The 3 biggest exchanges all stop bitcoin withdrawalsHistorical price here (Ethereum had remained flat, trading around $10 for almost a year, within days it started trending up and hit an ATH just a few weeks later, rocketing to over $400.)Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.THE BITCOIN STANDARD TOOLKIT/SPONSORSNYDIG - https://nydig.comCyphersafe - https://cyphersafe.io/ OKCoin - https://okcoin.com/Nodl - https://www.nodl.it/Coldcard - https://coldcardwallet.com/CoinBits App - https://coinbitsapp.com/Show moreActivity
