BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 3 January 2024

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this insightful episode, we dive into the dual role of Bitcoin mining rigs in both generating cryptocurrency and heating water at home. Our guest, a skilled Bitcoin engineer, shares the technical nuances and environmental considerations of his unique setup. The conversation also analyzes the strategic consequences of the Red Sea conflict, discussing its profound effects on international trade, maritime security, and the stability of the US dollar in global finance. IN THIS EPISODE, YOU’LL LEARN: Insights into the technical setup and operation of at-home Bitcoin mining rigs. How Bitcoin mining can be integrated with domestic heating systems, particularly for water heating. Understanding the environmental considerations and sustainability aspects of using Bitcoin mining rigs. An analysis of the Red Sea's role in global trade and its geopolitical significance. How the conflict in the Red Sea region affects international maritime trade and shipping routes. Discussion on the influence of the Red Sea conflict on the stability and dominance of the US dollar. Exploring the potential and challenges of using renewable energy sources for Bitcoin mining. Insights into the broader implications of maritime security issues on global trade. Latest trends and technological advancements in the field of Bitcoin mining. Understanding the complex interplay between geopolitical events and their impact on global trade dynamics. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Michael Schmid’s Twitter. Michael’s Website: Nakamoto Heating Solutions. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. Check out all the books mentioned and discussed in our podcasts here. SPONSORS Support our free podcast by supporting our sponsors: River Glengoyne Whisky NetSuite Shopify Toyota Babbel Salesforce Fundrise Fidelity Vacasa Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to TIP.
0:02.0	Hey everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals Podcast.
0:07.0	This episode is brought to you by River, the place that I personally go to securely invest in Bitcoin with confidence and with zero fees.
0:15.0	Boy, what a fun and exciting show I got for you guys this week.
0:18.5	Today's guest is Michael Schmidt, who is a home miner and that has taken the Bitcoin mining rigs that he owns and harnessed the heat from the rigs to heat his home and to fill his hot water tank.
0:29.0	If this is something that you've heard as possible, you will not want to miss this incredible deep dive on all the interesting
0:35.2	possibilities here. Additionally, we open up the conversation for the first 10 to 15 minutes talking about some of the
0:40.8	kinetic attacks happening around the Red Sea and Suez Canal
0:44.6	and why it's important from a global macro perspective with shipping lanes and the PetroDOL system.
0:50.7	So with all of that, I hope you guys enjoy this chat with Michael.
0:54.0	You're listening to Bitcoin Fundamentals by The Investors Podcast Network.
1:02.0	Now for your host, President Pish. Hey everyone. Welcome to the show. I'm here with Michael Schmidt and like I said in the
1:19.5	introduction this is going to be a two-part kind of discussion where we're talking about some of the things that are happening over in the Red Sea up front and then some amazing stuff that Michael has been doing from an at-home mining perspective. So Michael, welcome to the show, great to have you here.
1:34.4	Thanks for having me.
1:36.1	Just for the folks listening, we both have a bit of a military background.
1:42.0	Michael and I got to know each other a lot better back in the
1:45.2	fall out in Colorado and just you know in back channels we started talking about
1:52.1	what's happening over in the Red Sea right now with this
1:55.3	Operation Prosperity Guardian that the United States Navy is trying to run.
2:01.1	Let me just give, Michael, let me give a background for people that might not be familiar
2:05.1	with the scenario and then let's talk through just kind of a little bit what we were trying
2:09.3	to have in the back channels before I was like, let's just have a real conversation on the show about this.
	...

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