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