The Mining Disrupt News Surge episode of May 6, 2024 opened with a plug for the Mining Disrupt Expo, set for June 24 to 26 in Miami, and then went to the numbers on timechaincalendar.com. The host noted that a dollar bought about 1,559 sats, and that the next difficulty adjustment was set to be a downward tick of 3.48%, with blocks averaging 10 minutes and 22 seconds. From there he moved through the week's stories, closing on a short argument about what money actually is.
Deconstructing the Narrative of Sovereign Debt
First up was what the host called a gem of a clip. It came from a newly released movie that was making the rounds on Twitter, and the host said he had watched the whole thing and found so much wrong with it that he could not fit his comments into a ten minute show. In the clip, a speaker stumbles through an explanation that the government prints money and then lends it by selling bonds, with several pauses before settling on the answer.
The host said the rest of the film had the same problem. Its speakers talk more clearly and do not come across as bumbling, he said, but if you take more than a few seconds to think about what they are saying, it amounts to the same thing. He did not name the film.
Expansion in Kenya and the Hash Power Argument
Shifting to mining, the host highlighted an announcement from Marathon Digital, which said it would invest in and invigorate the energy grid in Kenya. He called it great news. He said he does not understand much of the technical side, but that when he sees more miners coming online he thinks of more hash power, and more hash power means the Bitcoin network is getting stronger.
we've got some positive news coming out of Kenya this is Marathon digital saying that they're going to invest and invigorate the energy grid
Host · 2:06
The Psychological Battle of Holding Money
The host then played a short clip from a video he said he had not watched in full. One line stood out to him, about what makes hanging on to money so hard: people are competing against algorithms and psychologically tested digital platforms and offers that are very good at convincing them to spend.
you are competing against algorithms and psychologically tested digital platforms and offers
Clip played on the show · 2:45
The speaker in the clip gave examples from everyday life: moving from economy to economy plus, then paying another 50 bucks for economy comfort, then upgrading to business class, or adding a chocolate cake to a soup order. We live in a consumer society, the speaker said, with so many amazing ways to spend money. The host said that is so true.
there are incredibly skilled actors algorithms Etc that have one purpose and it is to separate your money from you
Host · 3:24
His takeaway was that the people and systems on the other side of those offers are really, really good at what they do, and that holding on to money takes real effort as a result.
Roger Ver and the Question of Community Values
The host also covered a post from Whale Panda, dated April 30, reporting that Roger Ver had been charged with tax fraud. According to the post, Ver renounced his U.S. citizenship in 2014, allegedly did not disclose that he took the Bitcoin his two U.S. companies held in 2017 out as a dividend, and still owed at least 48 million to the IRS. In the same thread of news, the host mentioned a post saying the Bureau of Prisons was considering stopping prisoners from having any social media presence.
His point was not about the charges. It was about the reaction. Some people, he said, were celebrating Ver's troubles, and he did not understand how anyone could claim to be anti-state, pro freedom money and pro self-sovereignty while praising something bad happening to someone, even someone they dislike. Wishing ill on people you dislike, he said, is not wise and is just a jerky way to be, and he hoped people could be better than that.
Square's Integration and Hardware Limitations
To round things out, the host discussed news from Square, part of Block. Square sellers could now automatically convert up to 10% of their daily sales into Bitcoin. The host called it pretty nifty, using the example of a small coffee shop sending 3% of sales into Bitcoin, and compared it to a mini MicroStrategy kind of approach on the side. He noted that Block itself had been dollar cost averaging into Bitcoin every month, and was now letting Square users do the same.
you can start putting some Bitcoin on your balance sheet
Host · 5:23
He also mentioned that Jack Dorsey said the company was building a mining rig with three nanometer chips. The host said he thought chips can only get a little smaller before the laws of physics get in the way, perhaps around two nanometers, but added that he was not sure, and that new understanding might push that limit further.
In his closing thought, the host made the argument that gives the episode its title. The government cannot make money, he said. It creates a fiat currency that is used as money, but that is not the same thing. His reasoning was that money is a way to transact your time: you take your energy, time and labor, turn them into something, and need money to trade it. Since the government cannot make time, he said, it cannot make money. When this episode aired on May 6, 2024, Bitcoin traded at $64,211 by our reference price; on October 12, 2026 it was $83,316. The conversation continues at Mining Disrupt 2027, March 22 to 24 in Irving, Texas.
the government cannot make money the government does not make money it creates a fiat currency
Host · 6:16