Description

:30  Intro

• Topic: Crypto For Common Folk part 3

3:29 Sponsors

• Cream City Marketing
  • www.creamcitymarketing.com
• Spearity

www.Spearity.com

6:50 Mining and what does it mean for business owners

• Crypto mining and YOU → what does it all mean?
  • Important because it is growing
  • Will become a big topic

9: 00 Mining

• Mining is just a service platform
  • A bunch of computers that are running the same set of code and problems
  • A bunch of people want to get into mining
  • If you want to: start now
• Mining makes crazy returns -B
• When people are investing in mining the returns are so out of the norm that it almost doesn’t make sense

12:00 Example of return on mining

• EX: you pay 10,000 for this mining machine
  • Your gross revenue monthly will be over $1400
  • Most of these machines take a lot of power
  • Breakeven in 7 months and profit in 8
  • power
• Power when it comes to crypto
  • Need money to plug it in
  • around $300 monthly in power to plug these machines
  • Will run for 2-3 years

15:20 return on mining cont….

• Market can change and your profit could drop

18: 50 expenses

• After 21/2 years you will be making $700 a month profit and you are doing nothing
• The point of this is if you follow the numbers, this beats any business model
• “Turning electricity into cash” -B 2:20
• Negative: they take a lot of power to run which is why the power expense is high

21: 10 Power

• Realistically it is double the amount of power your house would use, but you are making $700 monthly profit
  • They need to maintain infrastructure that is not being used
  • They cannot use the power. Power isn’t where we need it.
  • Power is produced no matter what

24:00 Power storage

• Power storage is the problem
• Crypto is actually good for the environment because it is going where the future is going
• There is demand to upgrade → the power is being generated anyway, but crypto is actually using this power
• *sims example* run the power in the middle of the city

27:00 Access to People

• Crypto is doing good things for the world and for energy even if it is a huge power source
• “Nerds in basements”-M Michael explaining why crypto isn’t an MLM

30: 00 Crypto Models

• The idea and the return is almost unbelievable
  • There is nothing else that works this way
  • Because it is digital and other things require work ethic

33:10 Systems

• We are just getting good at this
• Important takeaway is to look at the idea and begin to understand it
• The more demand the more innovation happens -B 33:50
  • “Demand is the mother of innovation” - M

36: 00 Don’t get left behind

• Take advantage of the education right now
• Financial literacy is important or you will get lost in the dust

Full Show Notes Here