My New Podcast – Lindzanity – Episode 1 – Farbood Nivi of Coinmine

Yep…today I am sharing episode 1 of my new podcast. Please do me a favor and share it as well and subscribe to it on your plattform of choice.

I mentioned the podcast a few weeks ago on my blog and discussed the reasons in the interview with Skyler, whose agency is producing the show for me in Phoenix.

Back in 2006 I started Wallstrip, a short, daily video show about a company whose stock was at or near all-time highs. We would ponder what would keep the company and stock going. The very first episode was about Apple:

The stock is up 2,000 percent since.

For my first episode of Lindzanity, I invited my friend Farbood Nivi, the founder of Coinmine, to discuss Bitcoin and his startup. I quickly dive into what the Lindzanity podcast series will be all about. As for this episode and Bitcoin….while Bitcoin may not return 2,000 percent 13 years out, I figured it is misunderstood enough and has serious upside potential that it would fun to have someone who could best explain the good, the bad and the ugly of Bitcoin and the possibility of great returns. At the time we taped this episode in early April 2019, Bitcoin was at $4,900.

Here is the show on YouTube. On YouTube you can watch OR listen. Please subscribe to it with the button just below the display.

Here is a link on Spotify (just audio). You can now simply search ‘Howard Lindzon’ in Spotify and get any or all of the podcasts I have done.

It should be up on iTunes if you want to listen there.

Here are the show Notes if you do not have time to watch it all and want to forward to a particular part:

Lindzanity Episode 1 Farbood

1:00 Intro

1:20 – Crypto Currency

2:27 – When did you get the bug?
Bitcoin 5k
He was living in San Fran
He was working on start ups and didn’t have time to look into it until 2015

5:45 – Is your brother a believer in bitcoin?
He’s not really into it

6:07 – how do you separate the religion?
“There is a lot of belief that goes into when you’re getting yourself into something new.”
Printing Press Gutenberg ***short
If you were mining bitcoin in 2010 you were getting pennies you were crazy
Hash Power the amount of computing power
Wasting your laptop, hash, and electricity on mining bitcoin
You had to believe in the mission

9:45 – You have to buy into the mission
Turned those into accidental millionaire
A very few people controlling hash power
They refer to their product as the Gutenberg version of mining bitcoin
It makes you bitcoin
What was the ROI? You can’t compare

11:27 – Why mining?
There were a lot of different things but non of it appealed
“Money is one of the most important kind of information that we have.”
Howard knew about it from stock and trading

12:40 – Where are we at in the curve of those who kind of believe but don’t want to put their money in it?
He thinks existing players changing their behaviors
If you can send 63mil for $10 in 12min
It’s not just about the money it’s about the security

15:31 – NY Times said no business would be done on the internet
You’re going to read these articles when everyone was bashing it and laugh

16:15 – What happened after making the machine?
He started working on the hardware
His co founder designed it
They were roommates
He’s been building computers since he was a kid
He was mining Etherium
He called it the “apple” crypto device
He didn’t think it was possible
It clicked for him when you can control the device through an app
Coinmine is hardware software service

18:41 – You’ll be able to use services with the etherium that you’ve mined
App b roll
Potentially see the hardware disappearing

20:26 – How was it going to China
It felt like NY
They went into a book store at 10pm there are blockchain books and children sitting around reading it all

21:44 – What do these cost?
$799 –

22:07 – Future of Crypto
Usage is more important then price
“We aren’t trying to get 1% of the population to make a lot of money. We are trying to get 100% of the population to use a whole new system”
8% of the US owns crypto
The computing power that backed them did not drop

25:02 – You have to do your own work to make money
He can mine different kinds of bitcoin
You can see and interact with your money

26:50 – Bitcoin Mod
It will algorithm mine bitcoin
It will power whatever works off bitcoin
You’ll be able to earn interest on bitcoin

28:29 – What makes the price go up?
There are 21mil theoretical bitcoins that will ever be made
It doesn’t matter if a single bit coin is work 1mil 1 satoshi is worth $10

30:07 – Transaction Cost
200 bill spent on credit card transaction fees
3.5% of you revenue goes to processing your payment
We are stuck in this law of nature thinking that this is how it has to be

33:35 – what happens if lightening doesn’t take off?
-they’re is risk

34:21 – Mine OS
Something that will stand alone device sell thumb drive
Plug it in on an old computer and it turns it in to a coin mine
USB power internet and you’re mining it from your phone

If that works the price comes down

36:07 – What has it been like so far?
They are a small team of 8 people

37:24 – How are you dealing with Customer Service?
They can trouble shoot by going into the device
It updates over night
You don’t have to do anything
They have to trust the team

38:33 – There will be a lot of different wallet’s

39:23 – Software stakig- Really early on it. It’s another form of crypto economics
You put up collateral for someone to use your computing power

40:43 – Easiest Way to be apart of crypto Coinbase