In this episode we're joined by Bob Burnett, CEO at Barefoot Mining. His life trajectory has taken him from working on the first personal computer to discovering Austrian economics to a burning passion for Bitcoin and Bitcoin mining.
Today we dive deep into Bitcoin mining. We learn about pools, how they operate, the risks and threats that they face; from blocksize to blocktime, and how the role of miners will change with time; but we also talk about the ins and outs of operating a company within 100% of bitcoin ethos and the passion and purpose that Bitcoin can inspire.
Connect with Bob on Twitter: https://twitter.com/boomer_btc
Check out Barefoot Mining: https://www.barefootmining.com/
Chapters:
00:00:00 - Intro
00:02:37 - Introduction to Bob Burnett
00:08:07 - Acting in Bitcoin's Best Interests
00:12:20 - Signal to Noise Ratio
00:17:03 - Public Mining Sector
00:21:26 - Block Time War - Reducing Block Frequency
00:28:38 - Absolute Scarcity in Block Space
00:33:37 - Importance of Block Times to Miners
00:40:55 - Stratum V2 and Block Templates
00:44:52 - Mining Pool Centralization
00:49:09 - Mining Pool Payouts
00:52:00 - KYC Mining
00:56:30 - 20 BTC Transaction
00:57:47 - Private Key Storage
01:02:18 - Dunning-Kruger Effect
01:06:47 - Orange Pill App
01:12:22 - How Bob Found Knut
01:16:46 - Bitcoin vs Personal Computers
01:19:29 - Life Vectors
01:22:27 - Wrapping Up, Final Thoughts
The Freedom Footprint Show is hosted by Knut Svanholm and BTCPseudoFinn. We are concerned about your Freedom Footprint! Join us as we talk to #bitcoin philosophers about how #bitcoin can expand your Freedom Footprint and much more!
There are a few ways you can support the show:
Send us a boost or stream us some sats on Fountain. Check out https://www.fountain.fm/ and https://twitter.com/fountain_app for more info.
You can support us directly with Bitcoin on Geyser Fund: https://geyser.fund/project/freedom/
You can support us with dirty fiat at Patreon: https://www.patreon.com/FreedomFootprintShow
The show is sponsored by Wasabi Wallet, the privacy-focused desktop wallet with Tor and coinjoin built in. The coins you send to the wallet are coinjoined through Tor, so when you take the coins out they are private. Visit https://wasabiwallet.io/ and download Wasabi Wallet!
The show is sponsored by Orange Pill App, the social network for bitcoiners aiming to increase hyperbitcoinization in your local area. Download the Orange Pill App today! See https://www.theorangepillapp.com/ for details and connect with them on Twitter https://twitter.com/orangepillapp
The show is sponsored by The Bitcoin Way, specialists in cutting through the technical jargon of Bitcoin, so you can confidently navigate this complex world. . With a skilled IT team well-versed in the Bitcoin space, their goal is to make entering this dynamic realm as straightforward as possible for everyone. They cover everything from Cold Wallets to Nodes, No-KYC Bitcoin Purchases, Inheritance Planning, BTC Payments, and more. If you're looking to expand your freedom footprint, securely managing your Bitcoin in self-custody—the right way, then booking a free 30-minute call with them is the next step to take: https://www.thebitcoinway.com/contact
The show is sponsored by Xellox, developers of the Yokis, your solution to protect your seed against everything life throws at your, including fire, water, corrosion, and pests. The Yokis package includes 3 stainless steel plates and a pen-sized electric engraver, so you write your seed like writing on paper. Check out the Xellox Yokis: https://www.xellox.io/yokis/ and connect with Xellox on Twitter: https://twitter.com/xelloxwallet
The show is sponspored by bitcoinbook.shop, the #bitcoin only bookshop by Konsensus Network. Check out bitcoinbook.shop for Bitcoin books in more than a dozen languages, both original and in translation. Use code FOOTPRINT for 10% off at bitcoinbook.shop!
Follow us on Twitter:
https://twitter.com/FootprintShow
https://twitter.com/knutsvanholm
https://twitter.com/BtcPseudoFinn
#bitcoin #btc #philosophy #freedom #liberty
Today we dive deep into Bitcoin mining. We learn about pools, how they operate, the risks and threats that they face; from blocksize to blocktime, and how the role of miners will change with time; but we also talk about the ins and outs of operating a company within 100% of bitcoin ethos and the passion and purpose that Bitcoin can inspire.
Connect with Bob on Twitter: https://twitter.com/boomer_btc
Check out Barefoot Mining: https://www.barefootmining.com/
Chapters:
00:00:00 - Intro
00:02:37 - Introduction to Bob Burnett
00:08:07 - Acting in Bitcoin's Best Interests
00:12:20 - Signal to Noise Ratio
00:17:03 - Public Mining Sector
00:21:26 - Block Time War - Reducing Block Frequency
00:28:38 - Absolute Scarcity in Block Space
00:33:37 - Importance of Block Times to Miners
00:40:55 - Stratum V2 and Block Templates
00:44:52 - Mining Pool Centralization
00:49:09 - Mining Pool Payouts
00:52:00 - KYC Mining
00:56:30 - 20 BTC Transaction
00:57:47 - Private Key Storage
01:02:18 - Dunning-Kruger Effect
01:06:47 - Orange Pill App
01:12:22 - How Bob Found Knut
01:16:46 - Bitcoin vs Personal Computers
01:19:29 - Life Vectors
01:22:27 - Wrapping Up, Final Thoughts
The Freedom Footprint Show is hosted by Knut Svanholm and BTCPseudoFinn. We are concerned about your Freedom Footprint! Join us as we talk to #bitcoin philosophers about how #bitcoin can expand your Freedom Footprint and much more!
There are a few ways you can support the show:
Send us a boost or stream us some sats on Fountain. Check out https://www.fountain.fm/ and https://twitter.com/fountain_app for more info.
You can support us directly with Bitcoin on Geyser Fund: https://geyser.fund/project/freedom/
You can support us with dirty fiat at Patreon: https://www.patreon.com/FreedomFootprintShow
The show is sponsored by Wasabi Wallet, the privacy-focused desktop wallet with Tor and coinjoin built in. The coins you send to the wallet are coinjoined through Tor, so when you take the coins out they are private. Visit https://wasabiwallet.io/ and download Wasabi Wallet!
The show is sponsored by Orange Pill App, the social network for bitcoiners aiming to increase hyperbitcoinization in your local area. Download the Orange Pill App today! See https://www.theorangepillapp.com/ for details and connect with them on Twitter https://twitter.com/orangepillapp
The show is sponsored by The Bitcoin Way, specialists in cutting through the technical jargon of Bitcoin, so you can confidently navigate this complex world. . With a skilled IT team well-versed in the Bitcoin space, their goal is to make entering this dynamic realm as straightforward as possible for everyone. They cover everything from Cold Wallets to Nodes, No-KYC Bitcoin Purchases, Inheritance Planning, BTC Payments, and more. If you're looking to expand your freedom footprint, securely managing your Bitcoin in self-custody—the right way, then booking a free 30-minute call with them is the next step to take: https://www.thebitcoinway.com/contact
The show is sponsored by Xellox, developers of the Yokis, your solution to protect your seed against everything life throws at your, including fire, water, corrosion, and pests. The Yokis package includes 3 stainless steel plates and a pen-sized electric engraver, so you write your seed like writing on paper. Check out the Xellox Yokis: https://www.xellox.io/yokis/ and connect with Xellox on Twitter: https://twitter.com/xelloxwallet
The show is sponspored by bitcoinbook.shop, the #bitcoin only bookshop by Konsensus Network. Check out bitcoinbook.shop for Bitcoin books in more than a dozen languages, both original and in translation. Use code FOOTPRINT for 10% off at bitcoinbook.shop!
Follow us on Twitter:
https://twitter.com/FootprintShow
https://twitter.com/knutsvanholm
https://twitter.com/BtcPseudoFinn
#bitcoin #btc #philosophy #freedom #liberty
