Proof of Work - An interview with Ugly Old Bitcoin Goat

## Proof of Work: An Interview with Ugly Old Bitcoin Goat - Summary

This episode of "Proof of Work" features an engaging interview with a seasoned figure known as "Ugly Old Goat," delving into his journey from early computing and gold market ventures to his eventual embrace of Bitcoin. Goat recounts a life steeped in technology and a deep-seated belief in sound money, tracing his experiences from manual typewriters to early computers like the Apple II, and from founding a gold-focused company (Gold Standard Corporation) to his political activism supporting figures like Ron Paul. He shares a poignant regret regarding the failure of his gold venture, emphasizing the lessons learned. The interview highlights a pivotal moment when his son introduced him to Bitcoin around 2011/2012, leading to an initial investment made using an overdraft, and reflecting on missed opportunities to acquire Bitcoin at significantly lower prices, including instances where he could have bought it for under $100, $30, and even $300.

Beyond his personal history, Goat is actively working on promoting Bitcoin adoption through a new website and backend system designed for general use and referrals. He plans to offer lifetime access through a subscription model. Drawing on his successful trading history – including being a top performer on BitMax in 2017 – he emphasizes a strategy of consistently increasing his Bitcoin holdings, even during periods of equity losses. Inspired by figures like Roger Ver and Chris DeRose, he's also developing a YouTube channel to create a comprehensive Bitcoin information hub, aiming to provide simple, common-sense advice, particularly targeting entrepreneurs and a "blue-collar" audience who are currently unfamiliar with Bitcoin. He passionately advocates for Bitcoin's unique value proposition, stressing its security, borderless nature, and unconfiscatability – highlighting that "What do you have that can't be taken from you? ... They can't take your Bitcoin as long as you have the key."

Main Topics Discussed:

• Early Technological Experiences: From manual typewriters to Apple II computers.
• Gold Market Ventures: Founding and the subsequent failure of Gold Standard Corporation.
• Political Activism: Supporting Ron Paul's campaigns and the impact of direct calling.
• Bitcoin Discovery & Early Adoption: Introduction by his son and initial investment.
• Missed Bitcoin Investment Opportunities: Regret over not buying at lower prices ($1, $30, $300).
• New Website & Referral System: Launching a platform to promote Bitcoin adoption.
• Trading Strategies: Focus on increasing Bitcoin holdings despite equity losses.
• Content Creation Plans: Developing a YouTube channel and Bitcoin information hub.
• Target Audience & Bitcoin Education: Focusing on entrepreneurs and a "blue-collar" audience.
• Bitcoin's Unique Value Proposition: Security, borderless nature, and unconfiscatability.

Key Quotes:

• "I think that this solution is in Bitcoin."
• "I bought some Bitcoin on Coinbase and I didn't have the money. So I paid for it on my track overdraft."
• "I keep it simple and stupid." (Regarding his advice)
• "What do you have that can't be taken from you? ... They can't take your Bitcoin as long as you have the key."

People Mentioned:

• Ugly Old Goat: Podcast guest and Bitcoin advocate.
• Thomas Hunt: Podcast host.
• Ron Paul: Political figure supported by Ugly Old Goat.
• His Son: Introduced Ugly Old Goat to Bitcoin.
• Roger Ver: Inspiration for the planned YouTube channel.
• Chris DeRose: Inspiration for the planned YouTube channel.

Bitcoin Prices Mentioned:

• Under $100 (initial purchase price)
• $30 (price when he felt he missed the opportunity)
• $300 (later price when he felt he missed the opportunity)
• 2017 (referring to a period of significant Bitcoin price appreciation)

Ugly Old Goat primarily shares his insights and content on his Twitter and Medium platforms.