John Stefanopoulos joins me to discuss the future of Bitcoin mining and why its decentralization is important, running a full node, and how miners protect the Bitcoin network. John Stefanopoulos is the CEO and Founder of FutureBit.// GUEST // Twitter: https://twitter.com/JStefanop1Website: https://www.futurebit.io/// SPONSORS // In Wolf's Clothing: https://wolfnyc.com/NetSuite: https://netsuite.com/whatismoneyiCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/CrowdHealth: https://www.joincrowdhealth.com/breedloveWasabi Wallet: https://wasabiwallet.io/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 up00:00:34 - Intro00:02:07 - Helping Lightning Startups with In Wolf's Clothing00:02:54 - Introducing John Stefanopoulos00:03:19 - Genesis of FutureBit00:07:55 - Bitcoin Mining: ASIC, USB Miner, and Full Node00:09:38 - What is Hash?00:11:28 - Understanding Bitcoin00:14:10 - Defining ASICs00:16:56 - Centralized Market of ASIC Hardware00:18:18 - Significance of Hashrate00:21:31 - Ways to Incentivize People into Bitcoin00:22:48 - Run Your Business From Anywhere with NetSuite00:23:53 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet00:24:49 - What is a Full Node?00:27:13 - Incentives for Running a Full Node00:29:44 - A Quick Recap00:31:57 - Decentralization Issue of Bitcoin00:36:03 - What is a Mempool?00:39:39 - Censorship Resistance Issue with Bitcoin Mining00:41:55 - The Power of Numbers00:45:02 - Take Control of Your Healthcare with CrowdHealth00:46:04 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet00:46:56 - What is a Mining Pool?00:50:25 - Centralization of Mining Pools00:52:42 - Future of Bitcoin Mining00:59:04 - The Mainframe Moment for Bitcoin Mining01:01:18 - More Miners, Better Network01:02:59 - Where to Find John on the Internet// PODCAST // Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?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/RBreedlove// 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/breedlove22Instagram: https://www.instagram.com/breedlove_22TikTok: https://www.tiktok.com/@breedlove22All My Current Work: https://vida.page/breedlove22