Episode 52: Starting a Bitcoin Business with Alex Hays

Summary

Where is your money safe: in the bank or in Bitcoin? In this episode’s conversation, Robert interviews Classical Conversations® homeschool dad Alex Hays, the founder of Orion & Taurus, a company based in South Florida that specializes in repairs of ASIC machines and GPUs for Bitcoin miners. Alex shares his thoughts on questions that are on the minds of many Americans interested in personal finance and crypto: Where is our money safe? Is Bitcoin a hedge against inflation? And is Bitcoin mining sustainable? Alex also talks about balancing homeschooling with running a business, gives his best book recommendations for entrepreneurs, offers his opinions on the controversial yet highly influential book The 48 Laws of Power, and much more. After his conversation with Alex, Robert addresses the recent nationwide crackdown on remote work, and Will returns to give an update on the three recent SEC lawsuits against Coinbase, Binance, and Ripple (XRP).

Disclaimer: This episode is purely for education and entertainment purposes only. Nothing discussed in this conversation should be taken as financial advice.

Quote

“[Few] are alive who remember the Great Depression anymore. That’s the last generation that remembers such hard economic times. So, it’s hard for people who have never experienced something to realize what’s possible because in our lifetime we have never seen it. . . . [But] people who are older and are students of history can really see what’s coming.”

Alex Hays

Topics

• Intro to Alex Hays [1:04]
• From sailor to Bitcoin miner [1:36]
• Understanding some crypto grammar: hash rate, ASICs, GPUs, and mining [7:23]
• How Alex’s company Orion & Taurus serves Bitcoin miners [10:28]
• Balancing entrepreneurship with homeschooling [14:08]
• Is Bitcoin digital gold? [16:46]
• Is Bitcoin sustainable? [19:39]
• Bitcoin vs. fiat currency: Is your money safe in the bank? [24:04]
• Practical use cases of Bitcoin [30:40]
• Alex’s book recommendations for entrepreneurs [37:05]
• Homeschooling [39:25]
• Farewell to Alex [40:46]
• “Current Events Discussion”: Companies across U.S. asking employees to come back into the office [42:21]
• Ad: The Words Aptly Spoken Book Club with Leigh Bortins [46:08]
• “Classical Crypto”: SEC’s Lawsuits Against Coinbase and Binance [47:19]
• Outro [53:00]

Mentions

• The United States Merchant Marine Academy
• Orion & Taurus
• “Application-Specific Integrated Circuit (ASIC) Miner” | Investopedia
• “How Does Bitcoin Mining Work?” | Investopedia
• Amazon Web Services
• Printed circuit board | Wikipedia
• Institute of Printed Circuits (IPC) International, Inc.
• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Bitcoin Satoshi’s Vision (BSV)
• “What is SHA-256?” | Boot.dev
• “Network Effect: What It Is, How It Works, Pros and Cons” | Investopedia
• Lightning Network
• Crucial Conversations: Tools for Talking When Stakes are High, Third Edition by Joseph Grenny, Kerry Patterson, Ron McMillan, Al Switzler, and Emily Gregory | Amazon
• The 33 Strategies of War by Robert Greene | Amazon
• The 48 Laws of Power by Robert Greene | Amazon
• Ready, Fire, Aim: Zero to $100 Million in No Time Flat by Michael Masterson | Amazon
• The Toyota Way, Second Edition: 14 Management Principles from the World’s Greatest Manufacturer by Jeffrey Liker | Amazon
• Audible
• Orion & Taurus, LLC | LinkedIn
• Alex Hays | LinkedIn
• Orion & Taurus (@OrionandTaurus) | Twitter
• Orion & Taurus, LLC | Facebook
• “Google to crack down on office attendance, asks remote workers to reconsider” | CNBC
• Coinbase
• Binance
• Chair Gary Gensler | U.S. Securities and Exchange Commission
• Ripple (XRP)