Daily Ramble
In the past several years, I have been on the start-up trail. I worked to build teams and raise capital twice and am in the throes of it a third time. But, this time, it’s not me that’s built the team. Instead, I joined a team at Sazmining and have been helping them raise capital. As we look to close out the round at the end of the month, I’m impressed by both the team and the investor reception. It’s become apparent to me that Bitcoin and Sazmining will be around for quite some time. It’s also become obvious that timing makes the job of fundraising much easier — and it couldn’t be a better time to be in Bitcoin mining with the current market dynamics.
Looking past the successful fundraising exercise, I have been looking to bridge the gap between the solar electric industry and the Bitcoin mining industry. In the coming weeks and months, William, our CEO, and I will be setting out on a quest to educate both communities so the dream of solar-powered bitcoin mining can be more readily accessible to the marketplace. Solar people know solar and bitcoin mining people know Bitcoin mining, but the two are still oil and water. We aim to fix that.
While William and I have some initial ideas, our approach is to leverage the Sazmining podcast as the bridge. By podcasting with titans across both the solar and bitcoin mining industries, and focusing the conversation on how the two industries can better work together, we aim to shorten the education curve. From the outside, it’s abundantly clear that Bitcoin mining and solar power will collide in the not-so-distant future as the cost curves for solar power and batteries meet up with the energy pricing needs of Bitcoin mining. However, the inevitability of it means that there will be a substantial opportunity for growth in both industries in the years ahead.
Since many of my readers happen to work in both industries, my daily Ramble seemed a fitting place to source questions. So, if you work in either industry, have questions or ideas, don't hesitate to email me, write them in the comments below, or reach me on the social medias to discuss. And if you don’t work in either, please feel free to do the same! Who knows — maybe our little village will be partially responsible for raising a new industry.
Inspiring Things on the Interweb
Pop music in Quechua! 1
Bitcoin Price Prediction
Yesterday: $30.7k - $33.2k
Today: $30.7k - $33.2k
Tomorrow: $29.8k - $33.2k
The bulls couldn’t push past $33k before getting exhausted. That puts them back in the hot seat while the bears look to drive the price down further. All in all, it’s a very orderly grind down to lower and lower prices. But all is not lost until the bottom of the range is broken, at $28.8k. While it does not look likely that the bulls recover, there are no certainties in the marketplace. At the moment, I’m looking to see if the bulls can continue to close the day above $32.2k. If not, then the door to $30k is left open for the bears.
Bitcoin Q & A
Q: When will we shift to pricing Bitcoin in satoshis instead of the whole bitcoin?
A: Likely when the price of bitcoin is either $100k or $1M each.
One bitcoin is also 100,000,000 satoshis, or in reverse, one satoshi is .00000001 bitcoin. As the price of Bitcoin increases, newcomers often make the snap judgment that because a bitcoin is outside their budget, they cannot afford to participate. Nothing could be further from the truth, as anyone with even a penny can afford many satoshis.
When the price of Bitcoin reaches $100k, 10 satoshis will be worth a penny. And at $1M, 1 satoshi will be worth a penny. So I suspect one of those two points will be when we shift our discussion of Bitcoin pricing to satoshis instead of entire bitcoin.
Thanks for reading,
Kent
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Thank you, David L, for sharing!
Hello Kent, I started following your Daily Ramble via your posts on Crypto Tips.... Anyway not that I have any skin in the solar/mining game I still think it is so interesting. Do you know of the guy called Crazy Dane, who does solar mining on a smaller scale? I think he seems like down to earth, helpful, interesting dude.... https://bitcointalk.org/index.php?topic=2754939.0
Can't wait to see the creations you and your crew create!