beep extremely intensively and it was in
the middle of the night and I was really
woken up by this extremely loud and then
annoying sound and and I woke up and
that was I couldn't believe it because I
programmed my program to give this sound
when the Bitcoin price hits one thousand
US dollars I I was I first of all
thought maybe this is the program ran at
an error or something or I was directly
rushed to the computer and validated and
I couldn't believe I mean it was was
such a journey from the beginning 2019
to this moment in 2013 where it really
happened and the price skyrocketed to
that to that high price Bitcoin some of
you might have heard it is this huge
innovation and technology with which
makes it possible for people to transfer
money from anywhere in the world to
anywhere else without having any
boundary or any regulator or Authority
watching it it's a huge innovation which
makes it possible for people to transfer
money for example here you can send with
Bitcoin you can send money to a coffee
farmer in Africa without having 10
intermediary banks that each take a cut
in this transaction maybe if even
possible that they will allow you to
send this money it gives people the
option doing finance without any
the banks in between so it gives people
an option it was the first it's the
first time in here in humankind where
people have an option I mean all the
time it was always if you wanted to send
any money you always had to rely on bank
sending the money so now we were at this
point and the price was above $1,000 and
I looked to the more to the right on my
on my window in the stupid my student
accommodation and I was seeing this
machine here this machine is a Bitcoin
mining machine which which mines
literally mines Bitcoin Bitcoin is very
comparable to gold in the sense that it
is limited to 21 million bitcoins in
total and you can mine those bitcoins
more and more over time but it's getting
more and more difficult so similar to
gold I mean at the beginning of the
times it was easy to mined gold now it's
getting more sophisticated and this made
a huge opportunity and I mean I I was
just looking there and I knew this
machine right now was making so much
just from the mining of the bitcoins
that within a few days the whole
investment of the machines already
brought a broke even so you already got
your money back when you would have
bought those machines in a few days
because of this high price so I was so
stunned I directly called my partners
and said guys we have to move this is a
huge thing and it's a big opportunity we
are in the middle of a gold rush right
now these machines you can mine the
bitcoins and it's so so profitable just
for you to understand I mean mining is
needed in Bitcoin because you don't
VidCon is not a centralized system there
is no one in between no no central
authority or central entity that
controls any transactions a fully
decentralized system so compared to
MasterCard or Visa you have central
parts and they validate the transaction
but they can because of the central
character they they can get attacked or
there's all sorts of things and of
course you always have to trust bees and
MasterCard for Bitcoin you don't have to
trust anyone it's based on the
blockchain and there is no such central
entity for this to work you need people
like miners that validate the
transactions on a decentralized level
and they're spread amongst the world
everyone can mine as I said it's getting
more and more challenging and difficult
to mine I just want to give you one
example very back in the days when the
first years of Bitcoin there was one
gentleman in the UK who used his laptop
to mine bitcoins and by that time it was
possible because the competition was not
that was not so big and he could
literally mine a lot with his laptop so
he did it but by that time it was so
early that Bitcoin even have a price
that was not even a market place because
it was really in its infancy so but he
did it and I don't want to blame the
girlfriend but at one point she supposed
to said that why do you run this machine
all the time it's getting hot and and
it's not doing anything I mean those
virtual tokens what does that bring so
at one point he he stopped it and he
just went on everything was back to
normal and he was at a breakfast time
later he put off his newspaper and and
he read that Bitcoin is now trading of
100 dollars so he couldn't love me he
couldn't believe what's going on I can
is be true so it jumped off and he
directly and because you can track that
you can see it check the blockchain
how much bit quantity mine actually he
could see that in this blockchain ledger
and it was more than 300,000 bitcoins by
that time it was $100 so there's 300,000
we can turn into 330 million dollars so
he directly said Wow
oh my god so but then he quickly
realized this computer has been put in a
in the trash because he didn't he
stopped doing it is score and then
annoyed him with this and he and yeah
the solution was he put it in the trash
so of course he was a clever man he said
I mean thirty million dollars is now on
this computer where is this computer it
can't be it can't be just disappeared so
he tried he was researching where this
things are put when he puts it into into
trash and he started a he collected
money in order to to go on this waste
disposal it was brought to and searched
on this waste disposal for this computer
it's 30 million dollars it's a crazy
story so he got the money a little bit
of money and they did so good a good
amount of research I mean it was an
attractive T for investors if they would
have found the computer it's a 30
million dollar right now is it because
the big one is more than a thousand it's
three hundred million dollars so besides
the story ends unfortunately sadly they
didn't find the computer and those coins
are still lying on this computer which
is probably damaged but it's still there
so but this just shows how incredible
those very early times were and I was in
my room and got this alarm and and I was
looking at my mining machine and I is
just saying and we have to move now it's
this is the big opportunity that there
is the gold rush so I we didn't hesitate
and we directly had the plans we have to
move we have to do something now and we
have to scale this up and make it very
big we realized very quickly that of
course as it is very often in the world
there were a lot of other people that
were aware of this as well so we
realized that on a whole world globally
those cards the graphic cards in those
machines were sold out everywhere in the
world all the big retailers in the
States in China and Europe etc we're all
sold out so they have all bought that
and because they saw this and yeah and
probably even the retailers have
realized it and they thought oh my God
why should I keep this these these cards
in my stock so I just don't sell them
anymore and just do the same and make
more money but just when compared to
selling them so what what did we do
it's incredible but we found we found a
retailer not to not to known but quite
big enough in your in Europe that still
had cards at the inventory so we did not
ask much questions and we basically went
full speed and we from that time on we
bought this retailer so much empty that
their their trucks that left their
warehouse did nothing else then going
into our facilities which we have set up
by that time in the Eastern Europe
because nothing as it was the tracks
with over month months of period they
did that and of course I mean the
retailer they called us and asked us I
mean what the hell are you doing there
you're buying these these cards and
you're buying the the these professional
cards high-end cards but you're also
buying these motherboards low-end
processors are not so good
what does that make sense and especially
you're buying six cards four in one
motherboard in your home computer you
normally have one card and a processor
and in them and the mother part so it's
I did they didn't understand what's
going on of course we didn't have any
big intention to to tell him because it
was a dangerous thing obviously so we
came up without telling him we're doing
facial recognition image image
processing and it was fine it was fine
for them I mean we were a good client a
big client and they were happy for the
revenue we generated and we were happy
for the machines we got so we did that
and we have build in a within a short
amount of time
a massive r2 by that time very sizeable
operation in the Eastern Europe and also
in this town where we built it up of
course we had the same thing I mean what
do we tell the people because it's a lot
of money by that time and it's very it's
of course dangerous we have to protect
the facility etc and it's a small town
so the word go goes around quite quickly
so they are also asked of course and
especially because there there were
guards guarding the the facility cetera
but also we had a good reason for them
and it was credible I mean we told them
it's a laundry because it steamed also
it was a lot of steam and because those
machines are very hot so it was fine
everyone was happy as well everyone went
on as usual and I want to give you a
little bit of an over fear now an
insight into one of them into our first
facility and you will see on the sound
it's quite a very loud noise and you
can't believe that actually those cards
or which is equivalent to a computer can
be that loud but if you have thousands
of these cards together just the fans
create a huge noise so let's get right
on it
so you're hearing these massive amounts
of fans
generating these noises and our our
people in there had to wear wear
earplugs in order to to work there and
side effect was it was very hot as well
because mining basically is transforming
the electricity in hundred percent heat
so it was a kind of sauna temperatures
like for our workers but it was it was
interesting and everyone was excited so
of course I mean this was the first step
we did that were very happy and it was
incredible that this all worked out but
now we wanted to grow and wanted to make
bigger steps because we had this
opportunity and we and it was big it was
scalable so it put we came together and
we discussed and did a lot of research
and what we can do and especially where
we can do it to make it very big make it
much bigger than we already had that was
not easy there's a lot of factors I mean
you have to political you have to think
about political risks you have to think
about the Enver environmental conditions
and you have especially to think about
low electricity prices the place we
ended up was really at the end of the
world in Iceland what you see here is
our facility that's that what you see
here is the power plant next to our
facility in the middle of nowhere on
this island and we have done a lot of
research and we found this opportunity
it was again against any conventional
ways there was no way to get there in a
normal way asking some people and it's
not how it works so we had got a secret
track around the conventional ways and
we were able to pull this off and we
were fascinated and yeah what we have
created there is the so called enigma
farm which is the largest mining
facility for cryptocurrencies and
Bitcoin and
also blockchain and this facility
consists of more than 25,000 cards and
if you put all the computing capacity
and you sum it up all together there is
more computing power than the world's
number one supercomputer in the world I
will show you now how it looks inside
the sound of the comparison the first
facility is
level
and just on the one side is seeing more
than 10,000 cars just you see the heavy
turbines on the
on the on the room and you see also on
the side the fields
you see here the electricity the cables
just to give an imagination of how much
electricity is consumed there and yes
this facility is a sets a milestone for
us and of course it's it we were happy
to pull that off as well and went to the
size of course this unfortunately also
attracts a lot of an attention for not
always the the best reasons so there is
a people trying to hack the farm because
it's about a lot of money just the
electricity rate electricity bill for
this facility is more than a million
dollar per month a lot of people are
trying to to break in in various ways
it's very critical for us to keep that
location secret and I think we have done
a good job so far but I have to also say
that sometimes we experience things that
is very strange I mean last time for
example we were there and there was a
man coming in a black SUV and he cannot
occasionally just step by it's at the
end of the world and somewhere in
nowhere far away from the population so
and if we asked him I mean what is he
gonna do and it was as was later figured
out it wasn't industrialized espionage
attempt and that just shows how how
critical and how how much aware you have
to be in that space right now enigma is
powering the blockchain in general and
as I said Bitcoin and cryptocurrencies
it's also because it's a general generic
computing powerhouse it's it can also do
simulations
for medicine protein folding operations
and it can also be used for weather
forecasts and we are very proud of of
this and that we took such in such a
important place in this growing space of
blockchain and Bitcoin
and we are we are thriving to grow
further and I think what I just want the
message to you young people shall be is
that if you want something and you're
really behind it today in the today's
modern world you can reach everything
thanks a lot for your attention
it was one day
what when I was woken up
arm of a program from a program on the
computer which I would have hi what I
have written and I programmed this
program to give this alarming sound you
can probably remember when you have your
machine when you put the computer aft
speed so this program was programmed
that is particularly when to hammer this
Read More Example (with character count)
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