Episode Details

In this episode of Proof of Pain, Tony sits down with Bob Burnett (Barefoot Mining, board member at Ocean, ex Gateway CTO) to break down off grid Bitcoin mining, cost of production, and why public miners often get valued like tech stocks even though mining is a commodity business.

We also dive into Core vs Knots, block templates, spam and inscriptions, OP_RETURN, the SegWit discount, and why Bob is signaling support for BIP110.

What we cover

• Off grid mining: sovereignty, jurisdiction risk, and power first site selection• The Barefoot model: investors paid in BTC• Cost of production: why averages mislead and what “best case” looks like• What happens if BTC trades below cost of production and how hash rate reacts• Why Ocean and block templates matter• Core vs Knots, spam, inscriptions, OP_RETURN, SegWit discount• BIP110 and the path to handling spam incentives• Treasury company metrics and “mine vs buy” tradeoffs

Chapters0:00 Background and how Bob got into mining21:21 Barefoot model and off grid realities48:30 Cost of production discussion56:42 If BTC trades near 60K, what breaks1:05:03 Core vs Knots, templates, and Ocean1:10:53 Spam, OP_RETURN, SegWit discount, BIP1101:23:45 Treasury metrics, mine vs buy, Bitaxe, node advice1:31:32 Five year outlook
1:33:00 Where to find Bob

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Video of this episode on Youtube:

https://www.youtube.com/watch?v=e1zxGi1WsA4

Not financial or tax advice. For entertainment only.