outlets reported that samsung parted with the chinese bitcoin mining equipment manufacturer last year and finished the development of its chips samsung which operates one of the largest semiconductor as i said manufacturing plants in the world will manufacture and supply cryptocurrency mining equipment to the chinese market first which of course is funny because you know it was just announced that china is banning. mining of bitcoin in china south korea saying we're going to provide some mining equipment these chips for china. some people say that again that's just fake news as well that we're or we're misreading the statements coming out of china that china just has there's a problem with the local corrupt officials who are doing deals with between miners getting the taxpayer to finance the electricity for the mining operations and taking all the money themselves so again we don't know really what's going on in that part of the world but right now in the long term samsung plans to expand its

my new equipment venture from china to other regions like south korea and japan they have a stronger demand for crypto currency than other countries are the reason they have all this confusion is a national governments in various locations still don't even understand what crypto currency is how mining works what bitcoin does and that confusion and that learning curve that they haven't bothered to climb leads to a lot of missed policy choices messed up policy choices and it's because of a massive confusion out there so little is known about big coinage cryptocurrency is at all levels of government most levels of the customer world and even within the crypto community itself probably less than twenty percent of the crypto community even has a basic working knowledge of how the technology works but if we stay with this theme of dystopian philip k. dick sort of novel is it could also be a sort of prisoner's dilemma is this is why there's so much confusion is you know.

it's like one of those police procedurals where they're going from room to room to try to get the prisoners to you know the bad guys to turn on each other here we're saying like which countries the first to adopt coin or crypto but should we be the first if it's all a scam and they're all looking at each other and everybody's moving from the incentives are balanced that's the allegation so the protocol just a genie so suppose she does want to take over. i mean how the game theory played out in the summer lol the sun won't be buying the central banks will be buying because the price is still a crime to go to a hundred thousand dollars a court and then finally just to put into context what it means in terms of who samsung is samsung has a large scale sophisticated semiconductor manufacturing plants which are capable of matching orders of any size since last year samsung has been the sole supplier of oil screens for apple's i phone ten production line because it has been the only company that is able to match the supply needed by apple apple is invested billions and competitors at l.g. but nobody is able to match what samsung can do i guess they didn't really need

that capacity because apple has not done so well with i phone ten but samsung is also after this basically going to get into a g.p.u. minor so expanding the market to ordinary investors as well go well if you want to learn more about mining stay tuned for the second half our guests will break it down don't go away. despite its turbulent history. however this is not about the lives of those for. the children. for whom there will. be fewer who do through this going through what were you.

sure was interesting because after your you were there the first soviet a limpid team of nine hundred fifty two manipulated seeds of mindless concentration camp prisoners and front line soldiers but it still think maybe it is good to leave here which direction you take and lunch and there's an issue of pollution because you are versed in the such events of the month old and there shall go with that i was applying this with you if you. want to go that they should feel special for us through personal parcel of enthusiasm will go for you don't will you help them still more sympathy thing you're well aware there's your copy of in the book you know as it does come with the on the now. i'm here the money field stadium and adding to the home and the heart of scottish rugby i'm here to and to be a scotland legend doughty we have

a man who fought many great battles on the pitch behind me now he's engaged in the greatest battle of all his struggle against motor neuron disease. welcome back to the kaiser report imax keyser time now to turn to j.p. barrett of mining storage bad code j.p. welcome thank you all right j.p. we ran into you recently at a at a meet up a bit coin actually the party the anniversary of the genesis block being launched and you're a miner and this is really fascinating to a lot of people is it fair to say you're in your twenty's or early twenty's or fairly young guy. before we talk about your crypto mining operations tell us about how and when you got into cryptocurrency so i got in the crypt when i was

a freshman in high school kind of got my whole school was going to really small high school got everyone in on crypto eval was trading it you know so i guess i was fifteen years old sixteen years old and what does your about i think it was about once i tried buying coins through a wall in mt gox and i was like this is way too complicated and then eventually tech crunch another article came out like ok this stuff is crazy i need to do i want to do this and tell myself you know get the coins and i was like well and i have a core and let me see what i can do with it and then from there it's been just a learning process so there is a story a few stories i've been reading teenagers basically getting into crypto and doing rather well and has it changed your view on. the economy as a work or a you know you know you're in high school suddenly you're mining currency and you're you're exposed to a whole world of. economics and well how did that affect you you know at that time well let's just say i spent a lot of time focusing on because they went on the rabbit hole like you know

a lot of people do and you just keep researching researching a story you learning about how you konami explore you know how the government works how you know what money is and just kind of really learned a lot and i was like wow the stuff crazy and started taking with my school and kind of spent a lot time krypto by loved and it was worth every minute of it honestly and school . oh worthy or perfect your teachers they were they interested in this and that this kind of filter back up to them to the old well i got a lot of questions about crypto you know as a young kid and they're always like what is this big court stuff a lot of the classmates started joining in on me so we started kind of taking over some of the classes and all the discussions were about bitcoin and some almost every project i did was about pickle and if i could make it about it so i was kind of the big guy in school so all right cool all right so now when let's talk about the mining so in setting up a crypto mining operation how difficult is it to enter the space. you know as competition for chips it's quite fierce so how difficult now is that get into

mining so right now we've actually seen just the past since january first like an eighty percent rise in graphics card prices so it's been crazy i was trying to get into the space because a lot of money can be made but it's just the biggest thing is like i told mining's for anyone anyone can get into it from someone who wants to be a gamer we start a program that you could you know mine cryptocurrency a computer and get paid in pay pal but you know we inventions shut that down but miners are for anyone from gamers to you know large scale is to show investors it's all about the capital you have an let's anyone play the game it's just the same level returns on your investment it's just you know if it's one hundred dollars or if it's you know ten thousand or one hundred thousand right so you know we hear about the cost of getting into the big play mining now getting quite high and you have institutional players and pools getting together but you are mine across the spectrum all kinds of koans right how do you determine what coing to mine when it comes to asset management for miners is a big thing because you know you're mining cryptocurrency we started money or money you know hundreds of a theorem a day if you're proper asset management and proper portfolio management you're able

to you know reserve some of those for later down the line and not sell them all so really it comes down to which koreans you think are going to do the best in the future mining is kind of you know a hedge to getting into crypto it's a group of people to get in who have been who don't really believe in decline and don't can really understand it's like ok why have physical devices make me. i can kind of you know get a grasp of what it is also ok so how do you pick let's say there's something like fourteen hundred coins out there and depending on a lot of variations yes some are profitable to mine one day and not the next how does that all work yes so i would go ahead and say that most people most of our customers you know my theory i'm in the cash i'm an arrow those like the big three and you see customers will just mind that and hold it but there's also some people that use you know use nice has and has gone ahead and you know truth is the most powerful coins and automatically sell in place that it's really you know why you're in money and you're in it for the long term unit for a hole in the coins and just getting them and not selling them if you're signing for me for profit then you're in

a mind something called the most profitable coin and there's websites like what to mine dot com that kind of show you which coins the most profitable but that's which is because you know as difficult to goes down and some of these coins in the price are pressured up you know the mining rewards are basically in balance that's not dynamic market so let's say how would you describe here grandmother for example she would say j.p. what is mining is it possible to sum that up in a one minute blurb how do you describe it or how funny enough actually my grandma was one of the first we're going to go out in the money with me you know back in the day so i kind of explain to her i was like so mining is this you know it's a new real estate play for people it's like if you want to go ahead and you know you're buying a small mini apartment complex and you're kind of you know getting money from your tenants and each one of these tenants is like you know when you make the queens in the kind of paying for that so it's kind of you know using that play to explain it to people and kind of like the payment works in it's an easy way to explain it it's like a very similar to real estate investment ok that that's maybe too easy yeah oh yeah

do you understand mining the words can you just talk to the audience out there what what is what is crypto mining exactly i mean can you break it down what happens so yeah i mean in crypto mining you know you're solving you're building a block right the whole goal is to build the next block in the block chain and you're kind of go to poor. and you know people join these pools in the pools all together and they also you know contribute to get this block i would say you know crypto mining if it's someone who's never heard of it it's just you're kind of securing the block and kind of using now as recently as like you were though you're kind of you're securing the network or the army or the military for this currency you're providing the security you know that's of all the big ones out there of all the if there amount there's no one can you know overtaken have fifty one percent attack or you know overtake the network so it's another way to go about it that you know might helps answer some questions for people who have no idea when you start explaining you know what actually you know the math is in the technical know behind that it's people just they just usually glaze over and forget we're going to be

talking about so well i mean j.p. you're a miner you've made money mining do you yourself or is it really necessary to dive into the mathematics to aggressively i mean it's not i don't think it's necessary to this. to some people that need to do it and people have to have done it and you know with a very thankful for them but you know as a businessman you don't really need to understand the technical background of it because all the code is out there it's open source and people have you know vetted it and audit it and looked at it it's really pretty simple now you just kind of plug in your computer and kind of start graphics cards can start mining you know different cryptocurrency like a theorem or you're a sick man you just plug it in collector pool now it's going so there's not really any technical background that you need to have to get into money now back in the day it was a different story but ok so have you got a pushback from. the level of authority could be even a school authority or a federal or a state authority or federal government has there been any pushback whatsoever so i

mean not really with anyone from schools or you know in school we're talking about here like what are these and mining things are running has really started getting on the computers like testing them out on the school computers and they're like oh what are you guys doing it's like oh it's kind of playing around with stuff they're using the school yeah let's say you know we are tested they were our laptops you know back in the day ok. what about. the most competitive locations at the moment us care iceland china. price per kilowatt is a metric you hear often do you look at that i mean is that what's going on there in the energy cost that's the biggest thing when you come to institutional mining is you know when you're deploying millions or tens of millions of dollars with assets that electricity electricity costs you know you when it comes to electricity cost the price that out you kind of want it could be you want it for four point five two you know five cents per kilowatt we've seen you know pricing down to two cents per kilowatt in some places in the us and it's really just finding it the biggest thing i've seen is that actually the u.s. infrastructure is having a hard time scaling like the actual power and sure some of our time scaling with

the demands of these cryptocurrency miners on the some counties in you know in somewhere in the us there were have applications that there's about a thousand megawatts where the power currently just allocated in a queue that's for future deployment but you know you're not looking for the these companies are going to be deployed for you know maybe three to five years because of just the time it takes to build the substations and the time it takes to build out the infrastructure to support these cryptocurrency miners so they use a lot of power so where were you going in the your education and career now you've been exposed to something that gives you a look at the energy business the currency business crypto mining business i mean you're in the air down evolved a lot of different things suddenly and so you're at the beginning of your career i guess you could say so where's this taking a j.p. where you think this is all heading for you on your journey so i think for me in my journey i think it's going to kind of walking towards more institutional investors working with them on getting their you know their assets deployed in kind of helping them out that's where i see the you know a lot of the funds moving money is moving more towards you know i think we'll have

like you know right now money make your money back in about a year and a half a year to you and a half is conservative very conservative estimate but you know i fancy i think that'll be five to ten years before you make that money back because we're seeing what a year and a half a year and a half right now and what about this instant gratification i like to get like i want to get the mining started to make money and they want well maybe going to. oh i see you're in a year and a half right as you say your cost of the chips yes you cost so surely but that is a group is that number growing i mean it's been fluctuating you know we've seen i haven't i mostly you know six or seven years ago you were mining on your laptop and you know printing bitcoins exactly that was worth nothing right. and now you're saying that the cost of the rig what does your company do exactly so you're mining store dot co so what do you do exactly so what we do with money it's kind of our consumer facing company we're going to manufacture rigs for anyone who's looking to spend you know anywhere between five thousand to one hundred twenty thousand dollars on hardware if i came to you and i said ok up to you could do that for that

between five thousand or whatever you're saying but i'm i are why does a kick in for a year more than a year where you make money but you're going to make your principal amount on your investment back in basically a year or two and a half so not cash flow positive yet another year year and a half and that's attractive for a lot of folks i mean that's the price a bit quieter crip those were to continue right there in a soft patch you know if they continue to slide obviously that pushes that out further exactly and what's your view on the crypto market price going forward while i'm very interested in a hit ten thousand you know hit twenty almost twenty thousand dollars that's why our crazy you know couple years ago or like oh we're going to hit a thousand dollars is a big deal but i think you know crypto is growing exponentially you know as i can just as an organization as an organism as a group of people as you know we as a network grows as we see a network effect of you know i'm talking about the corn and that's kind of what i've seen is like you know i talked about decline a bunch of people now they're all coming back to what it is because when you're in a big corner like yes i told you about you know four years ago you should have got

in then but you know it's still happening i think there's nobody wanted that million dollars no one everyone wanted eighteen thousand dollars and that's fine with me you know i think there's still huge value in decline i think we're going to see you know higher prices you know maybe we'll hit fifty thousand dollars by the end of next year but you know no one really knows and it's kind of like as interest . builds as more companies start working in the industry says ok so now you're out of high school i guess yeah so i was in college at n.c. state university in raleigh and finally just took off and now i'm working full time on money entrepreneur and your fellow post-millennial generation has a changed world it's all crypto space in a big way i mean i think it has it's given me you know there's a lot of opportunity in this market and it's allowed me to really like you know i always want to be an entrepreneur kind of take that and be like ok what's wrong with this and you know really see what we can do what you know my generation can build in this watch and i think watching going to play a huge part in the tokenization of like assets sense to move forward and you know

with just in a virtual world all right well thanks so much for being on the show thanks all right well that's going to do it for this edition of the kaiser report was made her say several i think our guest j.p. barrack of mining store dot co if you want to reach us on twitter it's kaiser report and told next time. i'm completely confused about why a republican administration made a change that was the same surely. part of the democratic philosophy i can only think that sound way deep within they call the deep state the u.s. treasury they were a left leaning bureaucrats who implemented this change to a territoriality based system of taxation without anybody actually being aware of what was going on.

across europe municipalities are taking their water supply back from private companies. even find companies elsewhere. they invite private companies to take over their utilities anybody else throw balls . or was she goes to go. this is. for you remember the lift hill brought up locals are ready to stand up for the basic human right of access to water it's about water but it's of much more than war it's about the hurt and the redistribution of our worst words. they don't words we want all.

us led coalition airstrikes targeting syrian pro-government forces reportedly killed one hundred with central command saying the type was carried out to defend a rebel group. with just one day left before the opening ceremony of the south korean winter olympics dozens of russian athletes are holding out hope of being allowed to compete in the games with a ruling from the court of arbitration for sport on that i.o.c. bans eminent. however some athletes whose participation is still missing are now embroiled in controversy with norway's ski federation facing doping allegations. that. there was no. video of libyan children playing out

a mock execution goes viral our guests shared their views on the effect that war can have on the minds of the young. what a big what she was it online or really with a walk through the first one of the creation from a country. the younger kids on radicalization live stream is a bright. a very warm welcome you're watching our c international with me becky aaron good to have you with us this hour the u.s. led coalition has conducted as strikes against pro-government forces in syria reportedly killing over one hundred u.s. central command described it as a defensive measure lottie's mark gasnier joins me in the studio now to discuss this further so mark what do you think is it what they say is it an act of self-defense with this was overkill pure and simple if the numbers are true.

demonstration of sheer brute force perhaps you know to send perhaps the send a message they killed a hundred people because one u.s. allied fighter was injured no u.s. personnel were harmed wounded or in you know in any other way hurt but how it's jukes playing you know these sort of overkill nevertheless the united states says that it's it's in syria and it will defend itself and it has the right to defend itself in this instance. in defense of coalition and partner forces the coalition conducted strikes against attack and forces to repel the act of aggression against partners in gauged in the global coalition's defeat danish mission. if the situation is like how they describe that

they were indeed attacks while fighting isis then they have the right to self-defense well if you take them at face value you could think so but the one hundred people they just killed were also fighting isis and recently they had been making much better progress against isis then the united states led coalition or their partner forces the the s.d.f. the syrian government has of course called all of this an act of aggression unwarranted and unjust but just for your information all of this happened in their lives or near a rich oil field and refinery conical it's called it was liberated last year by the u.s. led coalition very quickly and in fact. u.s. partner forces seem to have a knack for liberating areas with oil under them much quicker than they do those areas that don't have oil under them since since all the oil rich areas were taken

in there as ordered by the s.d.f. progress against isis seems to have dropped to a snail's pace but you know regardless here america has said that it is in syria only to fight isis the very isis has been defeated in syria but you don't see the pentagon packing its bags. our military policy in syria has not changed our priority remains to defeat of isis whether it's in iraq or in syria that is our intent to defeat isis and not do anything more than that the united states will maintain a military presence in syria focused on ensuring isis cannot reemerge total withdrawal of american personnel at this time would restore assad who continue his brutal treatment against his own people the principle of a lack of a fundamental commitment to our agreements that is typical of current u.s. diplomacy including the reasons why the americans stay in syria rex tillerson

repeatedly stated that their only goal in syria was that the feet of ice or now they've got far more ambitious plans marked most with the mixed messages here is the pentagon staying. well general general mattis said that the united states will stay in syria will fight in syria for as long as the united states wants to fight in syria i mean that's you know pretty direct the narrative seems to have changed the united states seems to be saying that it will stay in syria for as long as long as it wants and it will defend itself while it chooses to stay in syria now you see how this might sound strange you go to syria uninvited and while there you start killing syrians in syria in self-defense and this is one hundred people they killed one hundred people just because one of their partner allied fighters was injured just one person wasn't even killed one hundred fathers sons brothers so

call this self-defense mark gasnier thanks for putting things into perspective for us there thanks coming in. the middle east expert jamal wakim says this attack reflects the u.s. strategy in the region. i believe this is and i got action against the syrian arab army against the syrian government because the united states has no legitimate claim to have troops on syrian soil this is part of grand scheme for the middle east by the united states to keep this but it didn't under its control i believe that so far the syrian government to refrain from and turning into direct clash with the united states army in north eastern syria but in the future i believe the syrian government will deal with the united states army as an occupying force that might be armed resistance to this occupation.

dozens of russian athletes are still holding out hope of competing in the winter olympics which get underway on friday forty seven of them have appealed to the court of arbitration for sport to overturn an i.o.c. ban and are now awaiting its ruling the court has promised to announce the decision tomorrow morning among those who filed appeals are some of russia's most celebrated athletes for example six time olympic gold medalist victor on and saatchi games champion and township elaine artie's either trying to reports from the olympic host city of plan chan. for almost two and a half hours the court of arbitration for sport was listening to the russian side which have now left led by their lawyer so these people won't get another chance to give their arguments to the court and now it is all up to the cast members they

promised to announce some sort of decision by noon korean time on friday. the phone we continue to depend on the can spam listen to our arguments and the decision will be reached within twenty four i was so things won't be decided to a few hours before the opening ceremony which of course puts extra pressure on the russian athletes on wednesday the secretary general hinted that still their mind to be at delay now here we are looking at three scenarios either cas decides to do nothing about the international olympic committee's move not to invite the russian athletes who have never been caught for cheating and without specifying the particular reasons for doing that or the court of arbitration for sport chooses to give the green light to the russians and in that case that would be a massive blow for the audio scene and that would in turn mean that the international olympic committee discriminated against the russians the third

scenario we heard about from an online leak that cannot be confirmed but reports are suggesting that there could be a split decision on the russian athletes i'm standing by here at the temporary home of the court of arbitration for sport and i'll give you any news as soon as it comes out. however some athletes his participation in the winter olympics is not in question on now embroiled in controversy and i thought oh no we didn't state run broadcast on an r k published a list of drugs the no we can't team doctor brought to chang and on k. noted a since specialist amount of ass medication. six thousand doses that's ten times more after my drugs then for example finland brought to south korea the quantity of us my medicine has raised concerns for a number of reasons most of these drugs contain substances banned by wada the doping watchdog argues that they can enhance an athlete's performance by expanding

their lung capacity and all wage an anti doping agency has also admitted that the country has a problem with the over use of asthma medication it is common practice in norway to occasionally use asthma medicine in major elements in the respiratory system even with the diagnosis vastly is not specific the latest revelation comes after the release of a documentary that alleges the existence of an organized doping system at norway's ski federation we spoke to one of the journalists behind the film. no roginsky for duration is very angry about this they don't want to talk about this problem and that's very sad in the region it's more. than ski federation doping program we can see that forty one percent.