TAAL’s Stefan Matthews discusses ‘Bitcoin mining as a business’ on Bitstocks podcast

TAAL’s Stefan Matthews discusses ‘Bitcoin mining as a business’ on Bitstocks podcast

What led to the creation of TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF), Bitcoin’s lead transaction processor? On Bitstocks Podcast Ep. 49 part 2, we learn the answer to that question.

“The CEO [of Squire Mining] had been in Zurich and he was raising 4 million dollars Canadian as a private placement. He still had 1.5 to 2 million left when he left Zurich; long story short, I ended up getting connected to the guy by phone,” said Stefan Matthews, the CEO of TAAL.

“He had only 48 hours or 36 hours left before his placement closed and I made a couple of phone calls, called him back, and said I will take the remaining 1.5-2 million, and I thought, ‘What’s the worst thing that could happen?’ I just bought 2 million Canadian worth of a public [company], if all else goes to hell at least there’s something there, there’s something I might be able to do with it in the future,” Matthews said. “So I got involved after that, realized that the developers were credible ASIC developers but they didn’t have the experience to be able to optimize the standard libraries to build a highly competitive chip, so I closed the program down. Then through a series of steps, [I] got more involved in the company, changed the board and personnel, and rebranded it to TAAL, and that’s where we are today.”

Unlike part one of episode 49, which revolved on Matthews’s journey into Bitcoin and how he met Dr. Craig S. Wright, part two of this episode focused on Bitcoin mining and TAAL. Michael Hudson, the founder and CEO of Bitstocks as well as the host of the Bitstocks podcast, and Matthews explored a variety of topics related to transaction processing on the bitcoin network; such as how Matthews became the CEO of TAAL, Matthews’s $20 million order with Bitmain, the stagnation in the innovation of mining machines, STAS protocol, the price of Bitcoin SV, and what’s next for TAAL.

Matthews is one of the few people that was around Bitcoin in its earliest days—before it was even called Bitcoin—and hearing his stories and insight is invaluable.

To learn more about the inception of Bitcoin, Dr. Craig S. Wright, as well as the past, present, and future of TAAL, you are going to have to watch Bitstocks podcast episode 49 part one “The Creation & Early Days of Bitcoin | Stefan Matthews” and Bitstocks podcast episode 49 part two, “Bitcoin Mining as a Business – Stefan Matthews.”

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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