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Michael Schmid

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2024-01-03
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2024-01-03
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  1. “But I didn't care because most of the time I'm listening to music while working. So I heated my garage a little bit. And yeah, I was happy with that. Then my wife and I, we decided to go on an airstream trip. So we have an airstream trailer and we traveled all over Colorado. And obviously it's very cold there. And one of the things is you heat your rigs. They're all heated with propane. The problem is, though, you need to get the propane. And they're not very well insulated. So basically every two days I had to find a place to fill up propane, you haul the tanks and all that stuff. But there is electricity on all these RV parks.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  2. “And then they came back in life, everything, like it comes back, you meet friends again. And so I met Bitcoin again, actually during the pandemic, because living in the US and learning about all this helicopter money or the stimulus checks, I started to doubt, like, how is this actually possible? How do we produce all this money? And your podcast was actually one of the major things that I learned about money and how it all works. Having some time during COVID and doing some side projects, I started to look into mining again. I bought like a very old S3 miner that's even before the S9. Found one on Facebook Marketplace and started to heat my garage because it was cold. So I then switched to S9s because I, well, the S3 didn't really make any money. So got the S9s, realized how loud they are.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  3. “Then we send them to each other just for fun. We couldn't use them. Yes, in the US at that point, you could start using them a little bit, but in Switzerland, there was nobody that wanted them. So we just sent each other them for fun. Then Mt. Gox came. And yeah, unfortunately, when Mt. Gox collapsed, they was like, okay, for me, that was like, okay, that was a nice experiment. Let's forget about it.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  4. “It's way more And so we wrote it off and said, it's a nice experiment, but it could never become the saddle layer for the world, of course, completely forgetting that things are built in layers, like the internet itself. That's what I learned, the different layers. So I don't know why, but I didn't really know the monetary background or the banking background to really connect the dots. Like I knew the Bitcoin over there and the money over there, but Could actually be solved and like layer two and layer three levels. So for me, Bitcoin was a cool thing. Of course, you actually bought some because at that point the only ways to mine is you just ran your computer overnight And the next morning, like, if you were lucky, you had 50 for 50 more bitcoins. That was literally like.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  5. “I'll have to. Yeah, so actually recently I checked when I got the first time in contact of Bitcoin, and that was 2011 already. So very early. Wow. But at that point, I am originally from Switzerland. I live in the US now, so I wasn't the tech scene of Zurich, active, and actually with a lot of cryptographers and cryptography was something interesting. And so we looked into Bitcoin just for the fact that I can send you something and I cannot use it anymore. Because in the internet, everything was about copying. So Napster and Kaza and all these things were about easy copying. And here comes a person and claims, oh, I figured out a way that I can send you something digitally and you cannot use it anymore. And that was fascinating because up until that point, that didn't really exist. Unfortunately, or maybe fortunately at that point, living in Switzerland, like we didn't really know how broken the money was because Switzerland is very stable, low inflation. The government cares for you. Things like that. And so while I understood Bitcoin, we looked at at that point, I was like, okay, wait, you can do seven transactions a second. That's the max. And already there, credit card.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  6. “To me, or is just if I think about if you look back into the history of how other events unfolded, that's usually when these first cracks are happening, that countries don't work with each other anymore or they have disagreements. And that's usually when bad things happen.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  7. “That fly under US flags because they transferred DoD containers. So, the US uses this mass limited which is registered in the US, flies onto US flags, and they only escorted the US ship so far, but they started this now many, many days later. And so today we are in a situation that it's very, very unclear what is actually going on. The attacks have been a little removed, but there still was one two days ago on the 26th of December. And a ship from MSC from Switzerland got attacked. Again, even though the Americans are there, it doesn't really seem that we have really a grasp on what's going on. And every major company, they're still sending all their ships down through South Africa. And what is scary for me is really that it seems like, hey, we don't have it on the control. That's one problem. But the fact that these nations, and specifically the US all in front cannot really get these different countries to work together. And that's scary.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  8. “Do something, which by itself is quite the big move if you understand a little bit of how these operations usually work, is that it's really important that everybody works together. If individual countries or teams start to do anything, the stuff gets actually more dangerous. Like it's like if in a company like different teams don't know what they want to do, yeah, then maybe things are not very efficient. But if we talk about military operations, this could actually go really bad. And the fact that France went along and said, like, look, we're going to just bring these ships now through because what the operation or what the task force wants to do takes way too long is for me with my military background, that's quite a bold move. And it continues. The US has now started to escort ships, interestingly only from Maersk's, which is an American limited. So Maersk, which is actually a Danish company, they have ships.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  9. “The air. And so can we do a lot of guards on board? And so they called for help to make sure. And obviously everybody looked at the task force. And the US said, okay, we're going to do this operation prosperity guardian on the 18th of December. But it took six days to actually get anything done. And that's, if you think about like again, if you look at every given, the whole thing took six days and it took the US to create the operation, get all the nations on board. And like you say, most big nations like France, Spain, Italy, they said they're going to help, but they're not going to be part of the operation itself. Basically, what they're saying, we don't want to be commandoed by US command. And France weren't actually so far that they started to escort their own ships before that operation could actually”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  10. “What types of drones or military equipment that they use? And so around the 12 to 13th December, when more and more non-Israeli ships got attacked, the companies obviously said, hey, we need to do something. The companies themselves cannot do anything. Ships are not armed in normal because the problem is imagine an armed ship from Germany would go to the US. Like, how do you handle this? Like, this would suddenly, so people always say, oh, just put weapons on these tankers. And that's not that easy. So if you really need something in terms of protection, like during the Somalia attacks on boats, what companies usually did, they had literally armed guards on the boats, but they went under boats after they already wear an international waters. They sailed through the affected area and then they go off again. In this case, though, we're not talking about people hijacking boats. We're just talking about missiles flying through.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  11. “Attacks again, always connected to Israel, and then suddenly other ships got attacked that had no connection at all to Israel. And yeah, when we say attacks, yeah, these are either drones, Kamikati drones that are flying into these, but they also have ship missiles, meaning they fly just a little bit over the water or ballistic missiles which go into the air and fall down. So the Houthi definitely have a lot of different weapons, and it's very clear that they are supported by Iran. They're trained by Iran because all the weapons are Irani. You can literally see”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  12. “You had already, like you said, it started in November already, but just very small. And actually at the beginning, it was only a tax to ships that have somehow a connection to Israel. So the Houthi clearly say they are supporting of the Hamas. And they said, we will attack or we'll basically stop Israel from trading. And if an Israeli ship wants to go through, we're still going to, we're either going to divert them, hijack them, and attack them. And actually what's crazy, in 19th of November, Galaxy Leader, which is car transport ship that has the owner, it's partly owned by an Israeli businessman, so it's not sailing on the Israeli ship. It didn't go to Israel. It's not owned only by Israel. It's just like a tiny connection. It actually got hijacked and it's still hijacked. We still don't know where all the people are, the crew. And so that's still going on. And so during the time in beginning of December, we had more and more.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  13. “It's interesting that this is not very widely reported right now. And I think the implications specifically what we talked about in the background, what is actually going on. So the US actually had since 2022, they had this combined task force, 153, which is a naval task force to protect the Red Sea that was literally made for that specific reason. And part of this are 39 nations all over the world who help with that say, hey, we are interested because like you mentioned, it affects globally. So through that specific route, there's a lot of European Asian traffic that goes through obviously these big shipping companies like Maresk, Hopakloyd and all these, they are not US at all. They're all European. And so it was a good idea to create this task force. Interestingly, what then happened in the beginning of December when these first, so maybe from a timeline point of view,”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  14. “Yeah, I definitely can. Yeah, like you said, I've been following all of this, what's going on around the Bob Mellon Depp, which is this specific, it's quite a small, it's just a couple of miles wide, so it's a choke point for industrial container oil ships, tankers, and all this other stuff. And yeah, what is really interesting to see is that this militant group without actually a lot of work can cause massive disruptions in the global trade. There are estimations that just because now I think the last couple of days, more than 300 ships have diverted down to South Africa and there is estimations that this will reduce the global shipping capacity by 10 to 15%. And for anybody that remembers the ever given that was stuck in the Suez Canal just for six days, so that was just six days. We're already almost two months in this whole, all these issues. It caused massive disruptions.”

    2024-01-03 · We Study Billionaires · BTC163: A Bitcoin HVAC & Hot Water System in the House w/ Michael Schmid (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT