Building Tools for Bitcoin Mining with Jan Čapek (WiM331)

Jan Čapek joins me to discuss the problems with the centralized production of Bitcoin mining hardware, the significance of free market competition, and the morality of Bitcoin. Jan Čapek is a software engineer and entrepreneur. He is the Co-founder of the Bitcoin mining solutions BRAIINS. // GUEST // Twitter: https://twitter.com/janbraiins Website: https://braiins.com/// SPONSORS // In Wolf's Clothing: https://wolfnyc.com/iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/Gold Investment Letter: https://www.goldinvestmentletter.com/CrowdHealth: https://www.joincrowdhealth.com/breedloveWasabi Wallet: https://wasabiwallet.io/Casa (use discount code BREEDLOVE): https://keys.casa/Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.comCarnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/// OUTLINE // 00:00:00 - Coming up 00:00:33 - Intro 00:02:07 - Helping Lightning Startups with In Wolf's Clothing 00:02:53 - Introducing Jan Čapek 00:03:12 - Bitcoin Journey of Jan Čapek and Braiins 00:05:51 - The Hash Power Distribution in Europe 00:06:27 - Target Clientele of Braiins 00:07:44 - Centralized Production of Bitcoin Mining Hardware 00:11:27 - The Incentive-based Market of Bitcoin Mining 00:12:48 - The Market Cap of Bitmain 00:13:29 - Technological Shifts in Bitcoin Mining Tools 00:16:58 - Possible Risks of Centralized Manufacturing 00:17:58 - The Alternative Business Model by Braiins 00:20:39 - Maximize Your Profits with Gold Investment Letter 00:21:35 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 00:22:31 - Take Control of Your Healthcare with CrowdHealth 00:23:33 - ASICBoost and the Bitmain controversy 00:27:07 - How Bitmain Used the ASICBoost Feature 00:28:29 - How the Western Market Players Failed 00:29:44 - Free Market Competition: Solution or Problem? 00:33:50 - Market Competition: Big Players vs. Smaller Players 00:37:08 - The Spectre of Hardware Backdoors 00:38:44 - The Difference between Safety and Security 00:41:05 - Applying Game Theory in Bitcoin Mining 00:44:07 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 00:44:58 - Hold Bitcoin in the Most Secure Custody Model with Casa 00:45:44 - Incentivizing the Free Market Competition 00:46:56 - Bitcoin Encourages Self-Interest 00:47:36 - The Rationality of BRC20 Implementation 00:49:43 - The Legitimacy of a Permissionless System 00:51:34 - How to Protect People from Scams 00:53:01 - Will the Demand for Blockspace Lead to Layer-2 Development? 00:54:53 - The Virtuous Cycle of Bitcoin Network Development 00:55:37 - The Morality of Bitcoin 00:58:02 - The Block Subsidy Debacle 00:59:17 - Stratum V2: The Next-Gen Protocol for Pooled Mining 01:06:03 - The Impact of the Stratum V2 Update 01:09:08 - Where to Find Jan on the Internet // PODCAST //Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast...Spotify: https://open.spotify.com/show/25LPvm8...RSS Feed: https://feeds.simplecast.com/MLdpYXYI// SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101// WRITTEN WORK // Medium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com// SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22All My Current Work: https://vida.page/breedlove22