could Bitcoin become the new gold standard while an interview with a Bitcoin mining magnate seems to indicate that it could possibly surpass gold and usability and in inherent value so what exactly is this mining magnate saying well let's go ahead and take a closer look in this video so the business of Bitcoin mining has exploded over the past year and tandem with the huge growth of the blockchain industry during the Bitcoin boom of late 2017 mining profitability was through the roof as the price of Bitcoin fell and then stabilized around 8 grand mining profitability fell with it leading miners around the world to have to think critically about how their operations would stay profitable so recently finance magnates a finance related website spoke to John kingdon managing director of the third blade-tech Bitcoin mine about the mines unique ownership model in the evolving role of Bitcoin in the world economy so John Kingdon began by saying quote the third blade-tech Bitcoin mine is going to be the largest Bitcoin mine in the UK it is the first Bitcoin mine of its kind to be offered to qualified investors it's 100% shareholder owned and its sole purpose is to mine Bitcoin John went on to explain that the mine had been modeled on a forestry fund that operated on the principles of cooperative collective ownership of assets and he's quoted as saying you would raise money and with that money you'd go buy land and then plant trees you would then grow the trees over 30 years and after 30 years mature grown timber would be cut down and sold on the market and then the land would be sold as well which would turn cash end quote at that point he continued the company would be shut down in an orderly way and all of the proceeds from the mining or in this case his forest for example from the timber would be sent to the shareholders John said the blade-tech is taking the forestry model and applying it to Bitcoin mining he's quoted as saying quote we are raising money with that money we are buying miners and electricity and a little bit of administration instead of a 30 year return it's a two-year return which is honestly quite good and much shorter than forestry so the minimum investment to invest in this group is actually 5000 pounds they're looking to raise between 3 million and 10 million pounds blade-tech is that is and the larger they raise the better the return because the administration fees become smaller and smaller percentage-wise John went on to say the thing about Bitcoin mining is that you quote can't really do it in your basement anymore you need to have specialist expertise in terms of data center design end quote additionally he argued that a five thousand a pound investment in the mine would be more profitable and efficient than attempting a homegrown mining operation or buying Bitcoin now under this cooperative model you were buying the means of production as well as output he said we're generating bitcoins the idea of buying into the mine is that the mine provides a cushion for the investment a Bitcoin were to go down by 40 percent over the next 24 months you would still have a positive return which is honestly quite good for investors now what on earth does this have to do with bitcoins increasing price in the future well John is quoted as saying that blade-tech is trying to bring Bitcoin into the light so finance magnates asked John why blade text mines will be located in the UK while other areas of the world may have lower rates when it comes to the cost of electricity John explained that in addition to having access to discount electricity in the UK the decision to establish Playtech in Britain was made because quote we're trying to bring crypto into light and quote having the mind be in another country is maybe something that's one degree out of somebody's comfort factor the idea is that it's a British company it's built designed and operated in Britain end quote and shareholders of the mine interestingly enough can visit the mine as they please which I honestly find very interesting John goes on to say quote we are very open a lot of mining operations have been secretive and closed and investments into the area can be dubious end quote it's this idea of demystifying crypto do you mystifying Bitcoin and just making it very straightforward a UK company in the UK as simple as that and I honestly like that principle that he's operating on so this is the part that really matters and where he explains why this operation is so valuable to him and why Bitcoin mining and Bitcoin is so important to the future so John goes on to say quote what Bitcoin becomes will be based on the users that create it and partly because of us miners are involved and where Bitcoin goes my point of view is that because of bitcoins market share it becomes the gold standard for cryptocurrencies and it might not be what you use to buy a cup of tea or a pint down at the pub it will be where you store your savings as it were and Bitcoin will become your bank account which is a pretty interesting take on the whole thing but one that I definitely agree with the direction of travel for money in the world is that it goes crypto John is quoted as saying and he goes on to say at some point there will be a downturn just as things go John explained that when you're operating with the system that relies on government backed fiat currencies the traditional way to get out of economic downturns is to print more currency Bitcoin however is different John explained that because there can only ever be a maximum of 21 million bitcoins in existence and because that is the monetary policy behind Bitcoin because of the way the Bitcoin code operates only a limited number of Vic 1 can be produced every day and this number decreases as more Bitcoin is mined so john wraps up by saying quote when we hit the next time that we start printing loads of dollars or euros or pounds then the market's going to be looking at something like bitcoin that has a very strict monetary policy and saying quote there's a better store value than my government backed currency end quote which a lot of people and john's defense are already saying people are bullish on bitcoin because it has a ton of use cases and even in africa we've seen that people are using it as a store of value to hedge against their extremely volatile local currencies so with that being said I definitely think that mining has a place in bitcoins future but with another quotation from an expert like John who is involved in the field and his opinions being expressed pretty positively I think the picker one has a ton of growing room left to do so honestly folks as always I want to hear all of your opinions down in the comments section below let me know what you think about this I think it's really interesting and honestly pretty fascinating so as always when I hear you have to say thank you all for watching we're about to break 63 thousand subscribers which is really amazing to see I didn't ever think that we make it at this point but anyway folks thank you all for watching let me know what else you want to see and I'll see you all you in the next video


  1. I'm encouraged with your YouTube videos! I am a crypto believer and I am still buying. I learned my lessons over the past 10 months. Although I am down on my portfolio value, I am still buying via dollar cost averaging. I truly believe the current prices will be laughably low in a few months or a year from now. I take the risk of lower prices on the short term for granted, knowing that the prices will be much higher on the long term. I am not taking the risk of not having invested what I could (because of I was waiting for lower prices) and then not take full advantage of the bull run. For me buying more crypto until the bull run begins is a no brainier and with the help of Allan Shaw , I am able to increase my bitcoin portfolio, 18 btc and counting. Thanks to his trading strategies and signals. surely now I am expectant of the bull run. Feel free to contact him. instead of just hodling and wishing for the best in a market manipulated by whales you can make so much more. His consulting email [email protected] or WhatsApp +447427159640 and thank me later

  2. Congratulations you broke 63k subscribers and then somehow we're able to jump to 84k subscribers all the same video… unless it's an older video 😂

  3. Bitcoin will crush gold temporarily until everyone is in the cashless society then they will devaluate cryptos and you won't be able to afford gold. Golf is real tangible currency. Cryptos you can't take out your bank and hide under your mattress. Negative interest rates, bail ins, taxes, carbon taxes will deplete your accounts until you are poor.

  4. Absolutely. With no gold existing on a blockchain, people investing in gold have no idea how much of their share in gold is also being sold to others. Those actually storing gold have to secure it and cannot immediately sell in seconds. Gold will be on it's way out. Bitcoin forever.

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  6. I managed to buy 500 coins of the Telegram the project is very sensational; I hope it will give its X-es!

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