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Michael Popak
All remaining Bitcoin should only be mined in the United States of America. Good old USA Bitcoin. So says Donald Trump. Another lie that's impossible to achieve because of his own failed environmental power, energy infrastructure, computing power and chip policies. I'm gonna break it all down for you right here on the Midas Dutch network. An illegal AF Donald Trump's in love with bitcoin. He's having an affair with bitcoin. There's no other way to describe it. He's got bitcoin and cryptocurrency moguls in his cabinet or around him. And Howard Lutnick and an Elon Musk. He himself owns a cryptocurrency company, loves cryptocurrency. His son went abroad into the Arab world, Eric Trump, and said, this is the golden age of the bitcoin. And Donald Trump responded and said, all remaining bitcoin. I'll talk to you about that in a minute. Should only be mined by miners here in the United States. Okay, let's break that down for a minute. Bitcoin. There's the because there's a limit on the amount of bitcoin that could ever be produced. That's what gives it its value. It's ultimately limited. 95% of all Bitcoin that will ever be created has already been mined and created and is already in circulation. The last 5%, they predict, will take us through the remaining 100 years. Take us 100 years to get the last 5% of Bitcoin. There's a lot of computing that has to go on, a lot of energy that has to be expended by miners around the world in order to generate that bitcoin and other cryptocurrency. We just don't have the power. We don't have the energy policy. We don't have the electric grid, we don't have the electricians, and we don't have the data centers that would. That would allow America to create all the remaining bitcoin. Just shows how Donald Trump doesn't understand how bitcoin mining works. I'll tell you where bitcoin mining is happening. The vast majority of cryptocurrency mining is happening outside the United States, like places like the United Arab Emirates, run by the Dubai, another royal family in Russia, in China, and in Africa, and in places in Africa like Ethiopia. Why? Because they have alternate forms of energy and clean energy that generates huge, huge amounts of power necessary for these cryptocurrency mining operations. We don't have that because Donald Trump is against all the policies that favor wind turbines, hydroelectric power, solar power, and the rest. So if you're Ethiopia and you've got access to tremendous hydroelectric electric power generation, you're already in the running to be a leader in cryptocurrency mining. Same thing in Russia. Same thing in China and in United Arab Emirates. They use wind, wind turbines, the ones that Donald Trump hates. That is what generates all this power. We only have a few places in America where clean energy can generate that level of power required to support the data centers, to support the computing, to support the quote, unquote, mining of this cryptocurrency. Washington State is one of them. Washington State has hydroelectric, has other forms of power. And that's why I'll tell you, for those out there that have children, the number one job moving forward in America because of cryptocurrency mining is going to be electricians. There is a shortage of electricians in America who can hook up these data centers and hook up the power in to allow for cryptocurrency mining. They're in short supply, high demand in places like Washington State, but we just don't have enough places like Washington state and with the limits that Donald Trump already places. Cuz he never takes, he never takes responsibility for anything. He the number one anti clean energy, anti solar, anti even anti electric car and the battery production that's required for that. He did not invest in chip manufacturing or science. That was Joe Biden. He did not invest in clean energy, wind, solar, hydroelectric and the like. That's Joe Biden. I mean one of the ironies is that in order to have more cryptocurrency mining, if that is a policy of your country, which Donald Trump seems to make it, you gotta have the power to do it. Power runs the mining operation and Donald Trump's own policies have undermined all of that. And the irony is Joe Biden should be getting the credit if we become a cryptocurrency mining capital of the world. But we're not. Currently it's being done by the Arab world, Russia, China and Africa who all want to get an advantage in the.
Sarah
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Michael Popak
Top technologists, top Silicon Valley experts are right, the next major shift in the economy is going to be driven by artificial intelligence and cryptocurrency, bitcoin, blockchain and the rest. And putting that together requires both those things, require tremendous expenditures and investment in the power grid, in clean energy alternatives and in places like I've identified, like Washington State. Donald Trump's not behind that. First of all, he's a short timer, short termer and short timer. He's a very short Runway. The four years is going to be interminable for the rest of us. But in terms of policy and being able to accomplish big things in heavy lifts, that four years is very short. Especially if we pin him down as we will in lawsuits, tying up his policies that are unconstitutional and are a violation of our rights. So by the time he's doing that, you can only do one or one and a half, maybe a half of a big thing. Look what Barack Obama did. He did one giant thing, really, in his first two years. Obamacare took a lot. So Donald Trump has all these things. Reforming the government, hollowing out civil servants, reshaping the relationship between the government and the US People, nailing and undermining and cutting entitlement, Social Security, Medicare and Medicaid, redoing our energy policy, redoing our foreign policy, redoing our domestic policy. I'm already exhausted. He can't do all of this. Thank God, in the four years that he'll be in. And this one is another magical thinking moment where Donald Trump loves to mislead the American people. He's the only president I can think of, we've ever had that you have to just give a 60 to 70% to 100% truth discount to whatever they say. I've had friends in my life like that. I call it a truth discount. Some friends are 100% honest. I think I am telling exactly what's going on and when it's going to happen. Other people, like, you know, 20%, a little bit of, a little of a fib here and there, you know, doesn't hurt anybody. Doesn't, you know, the fundamentals are solid. 50% discount, you know, that's a friend you can't trust. And then beyond, that's where Donald Trump has fallen into. So when you hear, you know, in Trump speak, we are going to be the leader of bitcoin production. It is impossible. We're not gonna take it back from the emerging markets in Africa, Russia, China and the United Arab Emirates who have a devotion to clean energy and power that we don't have. And Donald Trump is actually against. So I'm gonna continue to call out, you know, these kind of ridiculous comments so that when you hear them, you can filter them through the lens of reality and not a smoke or sunshine screen. I'll do it here on the Midas Dutch network and on Legal Layoff. I got a new show, sort of like this hot take but longer, called Popoc Live. Yes, it's on Tuesdays at 8:00pm Eastern Time right here on this YouTube channel for Midas Touch. Take a minute, hit the free subscribe button. Wednesdays and Saturdays, legal AF on the Midas Touch YouTube channel at 8pm Eastern Time. And then come on over to our new Legal AF YouTube channel. In collaboration with Midas Touch, we're doing it together, Legal afmtn, where we have all of this great content over there exclusively on the Legal AF YouTube channel. Now more than ever, we need independent media, independent commentary and analysis you can only find on Midas Touch and on Legal af. Help us out. Hit those subscribe buttons. Until my next reporting, I'm Michael Popak. In collaboration with the Midas Touch Network, we just launched the Legal AF YouTube channel.
Sarah
Help us build this pro democracy channel.
Michael Popak
Where I'll be curating the top stories, the intersection of law and Politics. Go to YouTube now and free subscribe at Legal AFMTN. That's @legal AFMTN.
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Episode Title: Trump Accidentally DESTROYED his ECONOMIC PLAN
Release Date: December 26, 2024
In the December 26, 2024 episode of Legal AF by MeidasTouch, host Michael Popak delves into the complexities and shortcomings of former President Donald Trump's economic strategy, particularly focusing on his approach to Bitcoin and cryptocurrency mining. The episode provides a critical analysis of Trump's policies, highlighting his misconceptions and the broader implications for the United States' position in the global cryptocurrency landscape.
Michael Popak begins the discussion by scrutinizing Trump's assertion that "all remaining Bitcoin should only be mined in the United States of America" (01:28). Popak dismantles this claim by outlining the practical and infrastructural challenges that make Trump's vision unfeasible.
Key Points:
Notable Quote:
"There is a shortage of electricians in America who can hook up these data centers and hook up the power into allow for cryptocurrency mining." — Michael Popak (05:45)
Popak contrasts the United States' situation with other nations excelling in cryptocurrency mining, emphasizing their advantages in clean energy and infrastructure.
Key Points:
Notable Quote:
"They have alternate forms of energy and clean energy that generates huge, huge amounts of power necessary for these cryptocurrency mining operations." — Michael Popak (03:50)
Popak criticizes Trump's stance on clean energy, arguing that his policies undermine any potential for the U.S. to become a leader in cryptocurrency mining.
Key Points:
Notable Quote:
"Donald Trump's own policies have undermined all of that. And the irony is Joe Biden should be getting the credit if we become a cryptocurrency mining capital of the world." — Michael Popak (04:30)
The episode highlights the broader economic impacts of Trump's policies, particularly concerning employment and industry growth within the cryptocurrency sector.
Key Points:
Notable Quote:
"The number one job moving forward in America because of cryptocurrency mining is going to be electricians." — Michael Popak (05:10)
Popak speculates on the future trajectory of cryptocurrency mining in the United States, contrasting the potential under different administrations.
Key Points:
Notable Quote:
"Donald Trump loves to mislead the American people. He's the only president I can think of, we've ever had that you have to just give a 60 to 70% to 100% truth discount to whatever they say." — Michael Popak (10:15)
In wrapping up the episode, Popak underscores the necessity for informed policies and investments to secure the United States' position in the rapidly evolving cryptocurrency sector. He encourages listeners to stay engaged with independent media outlets like MeidasTouch to receive accurate and unbiased analysis.
Final Thoughts:
Notable Quote:
"We need independent media, independent commentary and analysis you can only find on Midas Touch and on Legal AF." — Michael Popak (13:01)
This episode of Legal AF provides a thorough examination of how political decisions and policies can significantly impact emerging industries like cryptocurrency mining. It serves as a cautionary tale about the consequences of short-sighted leadership and underscores the critical role of sustainable infrastructure and clean energy in fostering technological advancement and economic growth.
Stay Connected:
For more insightful discussions at the intersection of law and politics, subscribe to Legal AF by MeidasTouch on YouTube and join the conversation every Wednesday and Sunday.