#737 How Everyone Can Become A Bitcoin Miner w/ Whit Gibbs

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 2 December 2021

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Whit Gibbs is the Founder and CEO of Compass Mining. One of the fastest growing mining businesses in the industry In this conversation, we discuss Bitcoin Mining, Geometric Hashrate Distribution, Decentralization of the network, and how you can invest and get in the mining game today. ======================= BlockFi provides financial products for crypto investors. Products include high-yield interest accounts, USD loans, and no fee trading. To start earning today visit: http://www.blockfi.com/Pomp ======================= Choice is a new self-directed IRA product that I'm really excited about. If you are listening to this, you are likely part of the 7.1 million bitcoin owners who have retirement accounts with dollars in them, but not bitcoin. I was in that situation too. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys and using tax-advantaged dollars to do it too. Absolute game changer. https://www.retirewithchoice.com/pomp ======================= Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle is also a principal developer of USD Coin (USDC), the fastest growing, fully reserved and regulated dollar stablecoin in the world. The free Circle Account and suite of platform API services bridge the gap between traditional payments and crypto for trading, DeFi, and NFT marketplaces. Create seamless, user-friendly, mainstream customer experiences with crypto-native infrastructure under the hood with Circle. Learn more at circle.com.

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp
0:07.4	podcast, simply the best podcast out there. Now let's kick this thing off. Whit Gibbs is the founder and
0:13.6	CEO of Compass Mining, one of the fastest growing mining businesses in the entire world. Witt and I
0:19.3	spent a bunch of time talking about Bitcoin mining,
0:21.9	geographic hash rate distribution, the decentralization of the network, and also the difference
0:27.8	between institutional and retail miners. I really enjoyed this conversation. I learned a ton
0:32.9	from it, and I hope you do as well. Before we get in this episode, I want to quickly talk about
0:37.1	our sponsors.
0:38.0	First up is BlockFi. BlockFi provides financial products for crypto investors. Those products include
0:43.3	a high yield interest account, a U.S. dollar loan product against your crypto collateral, and a no-fee
0:49.0	cryptocurrency trading platform. BlockFi also just released a brand new product of Bitcoin rewards credit card.
0:55.6	It's a normal credit card that when you swipe it, you earn back Bitcoin rather than cashback
1:00.4	or airline miles. Normal credit card, Bitcoin rewards, no cash back, no airline miles.
1:06.3	It's awesome. I've been using it now for a couple of months and I got say that not only am I earning Bitcoin back, but also there's a great feeling when you're swiping your card knowing that it's going to end up being much less expensive than it is today.
1:20.3	Go check it out at blockfi.com slash pomp. Again, blockfi.com slash pomp to start with that Bitcoin rewards credit card today, blockfi.com slash pomp.
1:30.1	Next up is choice.
1:31.3	It's time to stop paying capital gains taxes on your Bitcoin and choices here to help.
1:36.0	They are rebuilding the way Bitcoiners approach retirement by making it possible to invest in Bitcoin and 19 other digital assets inside your IRA.
1:43.8	Right now, every time you make a trade, you have to pay capital gains taxes that can be as high as 37%.
1:48.9	Choice enables you to trade real Bitcoin, other crypto, and stocks without having to pay a dime in capital gains.
1:55.2	The best part, they just released an iOS app so you can open an account in less than 10 minutes and take control of your
2:00.9	future from the palm of your hand. Join me in the 20,000 other Bitcoiners who have started their
	...

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