Texitcoin's Big Pivot: Profitable Mining, a New Co-op & Leadership

Bobby Gray: Here we go. Is it already going?

Bobby Gray: There we go. What's up, everybody? Bobby Gray here, founder slash fearless leader of Texitcoin. Joining you. It's week 106. I don't know if you guys are keeping… track, but we've been here for a little bit. In fact, it's now two years.

Bobby Gray: in two weeks. That's what 106 weeks will do for you. You know, I kicked this thing off in April of 2024.

Bobby Gray: When I reached a reasonably high level of confidence that we were going to be successful, you know, I never wanted to ask anybody for anything until I was sure, or pretty sure, that we had a good plan.

Bobby Gray: and a reasonably high likelihood of success. I got there around April 1st, 2024. My daughter gave me $1,000 and said, Dad, you've had some.

Bobby Gray: whoppers of ideas out there in the past. This is definitely by far the most bold of them.

Bobby Gray: But let's see what happens. Yolo. Here we go. And so that was 2 years and 2 weeks ago.

Bobby Gray: It doesn't… for some reason, the weeks thing never lines up properly.

Bobby Gray: Because we're at week 106. But it's only April 8th, 7th, 7th, 8th, I don't know. Anyway, it's been a good run. And if you guys recall.

Bobby Gray: back around February 10th, 11th, whatever, we got a cease and desist from the Texas State Security Board saying, shut it down.

Bobby Gray: broad accusations, security accusations, non-disclosure accusations, turn it off and we got punched in the face back then.

Bobby Gray: And. You know, we said thank you. We said thank you to everybody. We said it was it was good. It was enjoyable. We made a lot of friends. We had a lot of fun. Um, some of us even made some money, which is great. That was, you know, one of the top goals. Make friends, have fun, make some money.

Bobby Gray: And so you know we we we tentatively shut it down back then. And you know, we didn't shut the network down. We didn't turn all that stuff off, but we did completely freeze all sales everywhere.

Bobby Gray: And that was a real challenge for a lot of us that had come to the point where, you know, we went from, I'm the only person on planet Earth that's doing TexaQuint full-time, to, man, we probably have a couple hundred people that do this thing full-time, not including the people that do it.

Bobby Gray: you know, administratively. And so, of course, it's starting to rain now.

Bobby Gray: All right. Maybe we'll go inside in a minute. Anyway.

Bobby Gray: It's not over. It wasn't over back then, and it's not over now. In fact, I think that the clarity that we've gotten through.

Bobby Gray: What we've experienced is extremely positive for us, because it deals with some of the questions and I call it security insecurity that we've wrestled with for a long time now.

Bobby Gray: But we're still here, and it's week 106, and it's probably going to be my last miners update for us tonight. I've got a really great team now, um, that is ready to step up and assist with the… Managerial duties with the.

Bobby Gray: The obligation of keeping you guys in the loop on what's happening, how things are going.

Bobby Gray: And so we'll dive into all that tonight. I wish I could sit down somewhere. Maybe I could sit down on this. I don't know. All right. So let's continue. The first thing I wanted to talk about tonight is the legal update, and I'll share my screen with you here and show you guys what the absolute latest is.

Bobby Gray: in the realm of the legal stuffs. So, first of all.

Bobby Gray: First of all, I put together a page on the Texacoin site that covers the legal update. So if you're not sure what's going on, or what the latest news is on the legal realm, and you're not comfortable getting your.

Bobby Gray: Factual news and information from the social media trolls out there, go over to the Texacoin.org website, click on Discover, click on TSSB Legal News.

Bobby Gray: And there you go. You've got semi-real-time updates. Uh, started all the way at the bottom, if somebody's interested in getting the whole story, because it's a chronological… you know, event by event update about what we've been through and how we've gotten to where we are today. Now, the next update that'll go into this thing today.

Bobby Gray: is the filing of our official response. to the petitioner's notice of hearing. This is a requirement by law. If we are going to request a hearing, we've got to do that in a certain timely manner, and then we have to file a formal answer.

Bobby Gray: to the request inside of 20 days. And so this answer is filed in compliance with the administrative code. And so give this a read when you like. It's really the first time that we've communicated our official position.

Bobby Gray: to the TSSB. And just run through it real quick with you. And remember, this call is not a sale or offer securities. It's not financial advice. I don't know if you're in Texas. You know, we used to have a no Texans on the call policy, but I think it's pretty clear now that we're.

Bobby Gray: having this call with minors. This is a miners update call. What you guys do with it after this is not on me but not an offers for securities, guys.

Bobby Gray: should already know. So we deny everything and um… We want the TSSB to understand that Texacoin itself is not a security. The mining packages were sold through Mine Txc, not through blockchain mint or through Texacoin, which is the whole.

Bobby Gray: meat of the thing. But the basic premise of what they're talking about is wrong. You know, the SEC has just come out with a pretty heavy duty update about crypto for the first time.

Bobby Gray: And it's only our active participation that gives the people that pick up mining packages any value whatsoever. Market-based forces and the promotion and use of the community itself is what gives this thing its value.

Bobby Gray: Our aspirational statements were just ruled by the SEC or or I don't know what you'd call the document that they put out.

Bobby Gray: They were said by the SEC to not be a guarantee about potential profits. It's more aspirational to the moon, they say.

Bobby Gray: So continuing on down this thing, regardless of whether or not they could constitute securities, the order raises fundamental issues with fair notice and due process. And these are important things.

Bobby Gray: Um, because the SEC said that for a decade.

Bobby Gray: We haven't had good, clear instructions and guidance on, you know, how to do this stuff. You know the administration is out there saying, let's make crypto great again. Let's make USA the epicenter for all things good crypto. You know, we're operating in what we.

Bobby Gray: considered to be like a safe harbor which is.

Bobby Gray: you know, um, we're doing something that we think is good and right and following the law.

Bobby Gray: And what we point out here is that the SEC has finally given us guidance, and we're within the realm of that guidance. And then we're supposed to like deal with questions about whether or not we're in or outside of this safe harbor.

Bobby Gray: Not through enforcement actions, but through, like, you know, communication. And we didn't have any sufficient notice from anybody saying that these mining packages could be construed as securities. There was no conversation about it.

Bobby Gray: Um, same thing with the orders, alleged fraud, so on and so forth. If you want to… get the full thing, we will have it updated in just a couple of hours on the website.

Bobby Gray: But but feel free to read through it. And again, the goal is to make sure that you guys have the latest good information so that you can update your people, your community, so that you can make good decisions about, you know, future participation.

Bobby Gray: with our project. It can only be done. Good decisions can only be made with good information. So that's that's the real quick legal update. And as far as our timelines are concerned on all this stuff.

Bobby Gray: Everything remains very similar to where it was before.

Bobby Gray: Where we're now working on the road tour, get the RV out on the street, send it to… where's it going?

Bobby Gray: Where's your RV going? You guys know more about the RV than I do.

Bobby Gray: First stops in Nashville. April 21st.

Bobby Gray: We will.

Bobby Gray: Yep, it's going to be just south of Nashville for the first stop. Then we're going from, that's going to be on the 21st.

Bobby Gray: Then we go from Nashville to Myrtle Beach, South Carolina. That's going to be on the 25th. And then we are headed to Jacksonville, Florida on the 28th.

Bobby Gray: And then Ocala, Florida on the 30th. And then we're gonna be in Orlando on May 2nd, and then from there we're going down to Miami, where our the pole event is on May 9th. But we got consensus from 5 to 7, so we'll probably have some.

Bobby Gray: Side get-togethers down there also. So.

Bobby Gray: Let's talk for a minute about why, what this is all about.

Bobby Gray: you know, because we we've had some conversations in the last couple of days, and I'm moving inside. I'm not as hot. I'm going to turn the air conditioning on, and I'm going to not sweat myself.

Bobby Gray: in the room here. Hold on. Let's talk about.

Bobby Gray: We're gonna get, like, a one-page sent out to, uh, our Telegram group or something, Tim, on all those dates and locations.

Bobby Gray: Yeah, and there's going to be a registration page, too, so that we can figure out, you know, make sure that we know how many people are going to be showing up at the event. I think Bobby's going to talk about that. But guys, really, what this is is really we're, you know, we're letting all of you guys. I mean, right now we got over 300 people on the call here. You guys are still in it to win it with us, so we want you to know where we're going to be at.

Bobby Gray: If you're in or around these areas, we'd love to see you. This isn't a huge sales thing or anything like that. This is about getting the community back together. Um, we're going to, you know, break bread, we're going to have dinner, have some fun. Some of these places will have activities. I know we've got one of the locations, we've got golf simulators and pickleball. I don't know what some of the other ones will do.

Bobby Gray: I think we're going to have some DJs at some of these, but it's just about getting the community together about having fun again as a group. That's kind of one of the reasons that attracted me to this. And then we're going to share with you guys, uh, what we've got going on. You know, we've got a great education platform.

Bobby Gray: Uh, that is being rolled out that, um, I mean, it's really, really good. So we're excited to throw that, roll that out with you guys. Then we're gonna talk about Season 3, really where we're at now and where we're going, and uh… what everything with Bobby was saying with the co-op and everything else. So, that way, you can get comfortable about where we're at, where we're going.

Bobby Gray: And then, you know, how you can play a big part in benefiting with us, so…

Bobby Gray: Yeah, I think comfortable is the key word there. You know, it's it's no pressure, like, don't feel obligated to find 7 people and drag them out to this thing if they're not interested in going. It's all good. It's all about… it's all about community.

Bobby Gray: And we talked about, you know, the 3 basic components of why we do this community, fun and profit. And.

Bobby Gray: Don't brush off those first two as being insignificant or ancillary or kind of like, yeah, we do that as we make money. We're here to make money. That's really why we're here.

Bobby Gray: Um, you know, there's a lot to life, um, and money is obviously extremely important. It's hard to live and enjoy life without it, or if you're always in debt, struggling. So it's incredibly important.

Bobby Gray: But just as important, I would say, is, you know, relationships is enjoying our time here on planet Earth. I don't know why we're here. I think that our job while we're here is to enjoy it and to leave the world a better place than we found it. But like you get into that for yourself.

Bobby Gray: Point is that we have to have a good time, because having a good time and making friends is what drives growth. People don't want to go out somewhere where they're gonna just be bored and unhappy and miserable, like, let the other guys do that.

Bobby Gray: the whole thing that drove adoption of Bitcoin in the early days, you know, before it was a mainstream financial.

Bobby Gray: Um, you know, kind of thing was just community, was people getting together and being willing to take their time to try something different. And so, that's an important element for us. And we start there. It's like Cubby says, be, do, have.

Bobby Gray: And we always expect that the financial result will come from us doing a good job on these other two things. If we can bring people together and show them that we're real, you know, we're not hiding in Russian hacker basements somewhere, or maybe they're all in Vietnam or something now, I don't even know where these hacker outfits are.

Bobby Gray: Um, but… if we can show to the community that we're.

Bobby Gray: Working hard every day. We're having a good time. We want to share that excitement and that abundance mentality with other people as well.

Bobby Gray: And and yeah, we can have some setbacks, but we can work through them. If we can communicate that to the world.

Bobby Gray: ensure that we're not willing to give up or disappear as we have been, you know, accused or projects have done in the past.

Bobby Gray: Then we've got something great, and people will participate. They'll take a chance with us if they see those admirable qualities in us. That's the point of the trip. Bring people back together, show them we're still here, let them know we're still alive. Let them know we've got a plan. We had a plan 2 years ago, we've got a better plan today.

Bobby Gray: And show them the progress that we've made. Let's talk more about progress, because I don't know if you guys are paying attention to the mining output. I am. I look at it all the time.

Bobby Gray: And what we're doing right now, just so you know, is we're switching over the domain name from pool.iscan or coin.com to pool.texiccoin.org.

Bobby Gray: And the reason that we did it this way is because, you know, we solved this problem.

Bobby Gray: by getting Iskander set up, you know. So let's let's walk through the timeline here real quick. We launch reminding the coin on a desktop computer in a spare bedroom. Okay, then we move to the L3s in the garage. Garage is heating up.

Bobby Gray: L3s are dropping like flies. We find immersion cooling. We buy the best immersion cooling compatible hardware. The Bitmain L7s. We set those up. We're mining in the garage.

Bobby Gray: With, you know, kind of the next step in the technology, and we're doing good. Then we start adding bigger immersion cooling infrastructure, we get upgraded to the L9s, and now we've got a 24-pack, and then a 48 pack, and then we've got shipping containers full of these things.

Bobby Gray: And so, as we've been improving the technology and improving the infrastructure and improving, you know, the installed hash power, we're also learning a lot about the technological possibilities. And we've always known in the back of our mind that we can merge mine multiple coins at the same time.

Bobby Gray: And we were merge mining Litecoin and Texitcoin, um, for a long time now. I would say, I don't know, maybe about… 7, 8, 9 months?

Bobby Gray: And, you know, you have to give yourself some time to average out block counts and rewards before you can draw any kind of conclusions about how well you're doing with this merge mining.

Bobby Gray: But the hope was that we were able to mine Litecoin to pay our electric bills so that we get our Texacoin for free. Well, that was really falling behind, and we didn't see it too loudly.

Bobby Gray: Until we set up two containers in Texas. And when we set up those 2 containers in Texas, all of a sudden we got a $70,000 monthly electric bill, and we went, Oh, crap, how much Litecoin do we have? Well, we're getting like $3,000 a month in Litecoin.

Bobby Gray: Not enough. What's wrong? Well, we're not mining enough. Well, what's wrong? Is it a minor problem? Is it a connectivity issue? Is it a protocol? Like, what are we doing wrong?

Bobby Gray: Well, we've got this priority and that priority, and the other priority. We'll get to it. Well, let's get to it quick, because we're losing like $65,000 plus plus a month as we're not figuring out how to do this.

Bobby Gray: Okay, so then we start the Iskander project, and now we want to mine Iskander and Texacoin along with Litecoin. And so a couple of things happened, you know, during that time. One is that we set out to figure out how to be able to merge mine at least 3 coins. Two is we set out to figure out what was wrong with the the network.

Bobby Gray: block time. You know, we're making 80,000, or 95,000 coins a day, and then 90,000, and then 85,000, and we're watching the mine output kind of slowly slip over time. Let me pull up a chart of that here as well.

Bobby Gray: manage.iscannonetwork.com. We're watching our daily coin output slide.

Bobby Gray: And we're sitting there scratching our heads, and we're saying, what are we not understanding? What are we getting wrong about this technology stuff?

Bobby Gray: And at what point are we going to prioritize it so that we can figure out what's going on? So here's our coin shared output, and if we look at it by, you know, let's say by month.

Bobby Gray: We can see that there's this just steady decline. 95,000 coin average per day to 94 to 92. We're sliding. Why are we sliding? What? What happened to cause that to slide? And there's a couple of different answers to the question, just so you know from the tech standpoint.

Bobby Gray: One is, the more hash power we throw at the server, the more the more.

Bobby Gray: I guess the the the less the server is responsing. So the more like the server is timing out. So we had to upgrade the server. We went from like one server to the biggest server that our tech department has ever deployed. We paid $3,000 a month for this one computer.

Bobby Gray: So it's robust, it's got 48 processors and 192 gigabytes of memory.

Bobby Gray: Anyway, it's able to keep up with the load that's created by the miners. Every miner is sending off a packet of information to the pool.

Bobby Gray: every couple minutes, and so it's a… it's a lot of load. 2 is, we figured out that the block difficulty in our network is adjusting every 4 min, and in Litecoin it adjusts, or sorry, not every 4 blocks in Litecoin it adjusts every 1,600 blocks.

Bobby Gray: If you asked me and the developers, they would say that that change is the single most important thing that has fixed and increased the mining output. Because what happens is the miners run.

Bobby Gray: They increase the difficulty, and then all of a sudden something turns off, disconnects, and then the difficulty stays up there, or it's hunting all over the place, and the miners aren't really able to find the rhythm. I'm probably not explaining that very well, but… That's, uh, that's their explanation for the bad block count.

Bobby Gray: Also, you know, we're figuring out how to cut down on the number of times the miners are getting disconnected from the pool, so on and so forth. We make all those changes as we're learning more about how to merge mine for coins. And of course the net result is an.

Bobby Gray: instantaneous improvement in network performance. You know, I send a couple pictures out to the group showing that normally I'll get, you know, 15 to 20, uh, block delay warnings all day. Sometimes it could take an hour or two for a new block to be found.

Bobby Gray: Now we're getting one a day, at most. And that's really exciting. And as a byproduct of that, the number of coins produced by our network per day has now jumped way up. If we look at it on a weekly basis, you can see that it is now averaging about 118,000.

Bobby Gray: per day. Um, if you do the math on it, we should be making about 118, 120,000 coins a day. We have a 3-minute block time, 24 hours a day, times 60 minutes in an hour, 1,440 minutes, divided by 3-minute block time.

Bobby Gray: 480 blocks per day, multiplied by 254 coins per block.

Bobby Gray: The number comes out to about 121,920. So we're doing much better in terms of coin production, and we attribute that, once again, to the fact that we finally had to get into the nuts and bolts of this stuff because we launched Iskander.

Bobby Gray: The whole point of me dragging on about this is that the Iskander pool is going to get transitioned over and we're going to flip them so that the main pool is called pool.texaccoin.org. And then the backup pool is going to be called pool.

Bobby Gray: Iskander coin.com. And so you can see the other pool here, pool.texaccoin.org, looks a lot cleaner and gives you some fun charts and data. And so we're going to switch over to this as our main pool. And while we're here, OMG, let's take a look at what we've done in just the last seven days.

Bobby Gray: So on the main page of the pool. You can click on one of these wallets. I like to use Dogecoin as the point of reference.

Bobby Gray: and it'll show you all the Dogecoin blocks that we've found.

Bobby Gray: And all the way up to 7 days ago, it's not fully 7 days yet, but now 7 days ago is when we hit our first block.

Bobby Gray: Something to consider is that we've been ramping up the mind power as we're testing out this new pool. You know, right now the mine's running at 6.9 terahash, that's 6.9 million mega hash.

Bobby Gray: But we've been increasing the number of ASICs connected to this pool over the last couple of weeks, as we're testing it out.

Bobby Gray: And so, as we look back at that first Dogecoin block 7 days ago, that wasn't with all the power that we have now. It was significantly less. We were running at 4 gigahash or 4 terahash, and then 5, and then 6, and then now we're close to 7. We should be about 7.1, 7.2.

Bobby Gray: The reason that that matters is because you can look at the output of the mine in the last 7 days, and do the math and get kind of excited about the result. I'll pull up my calculator here.

Bobby Gray: Um, Litecoin block reward is 200 and I'm sorry, 6.25 Litecoin per block. What is a.

Bobby Gray: Litecoin worth these days. Coin market cap. Excuse me.

Bobby Gray: Litecoin on the market today is $55.09. So we can go back to the mine output.

Bobby Gray: And say, okay, we get 5509 per LTC, multiply that by 6.25, a block is worth $344 today. Okay, so let's multiply that out and show that we got 16 blocks. My calculator keeps crashing. I don't know why my calculator wants to crash so bad.

Bobby Gray: Um, I can't… use my calculator on the screen.

Bobby Gray: I will use it on my phone. So what's the math?

Bobby Gray: The math is 16 blocks. times 344.

Bobby Gray: times 6.25. Sorry, that's not the right math. 16 times 3, 44.

Bobby Gray: Is that what the blog is worth? No. 16 times 6.25 times… What do we say they're worth? They are worth? Sorry, guys, feel free to help me out here as I mumble my way through this.

Bobby Gray: 55 09. So 16 blocks times 6.25 times 55 is $5,500 of Litecoin. So write that number down.

Bobby Gray: And then we've got 29 blocks of doge times 10,000 Doge per block. And what is doge trading at today? Doge is trading today at 9.4 cents, 0.094. We've got 27,000.

Bobby Gray: 260. And that was the other realization that happened as we were.

Bobby Gray: going through this, you know, technology discovery, it was, why are we mining Litecoin and not Doge? Well, when we made the decision to mine Litecoin and not doge, Litecoin was doing fine. Then all of a sudden Doge takes off and we look back and say, man, we should have been mining Doge and Texacoin instead of Litecoin and Texacoin. Okay, lesson learned.

Bobby Gray: But we want to be able to mine all of these, and Iskander along with it. So in the last 7 days, as you've seen, we've got 27,260 of Doge in the $5,500 of Litecoin. That's $32,760 of mining rewards.

Bobby Gray: It's divided by seven days, it's 46.80. 4,680 in the last seven days. Let's multiply it per day. Let's multiply it by 30 days and you get $140,400. Let's talk real quick about expenses.

Bobby Gray: because our expense. for electric bill in Conroe is about $70,000 a month. Our electric bill for the other sites is about… 7,000, 7 or 8,000 bucks a month. So we're about $80,000 a month for the electric bill. We pay $10,000 a month for our Amazon AWS infrastructure. Call it 90 grand. You know, a little incidental here, there, and the other place, 100 grand, well, at $140,000, which kind of is a low average, because we were.

Bobby Gray: ramping up the ASICs connected to that pool, we've got a profitability factor of about $40,000 of gross profit, which is great. Very exciting to see that.

Bobby Gray: Um, it's always, always, always better to be profitable than not profitable. And so now the race is on to increase the money hash power. I want to show you guys that we just signed a contract with our friends in Conroe.

Bobby Gray: And this is a bit of a deviation from the original plan. But we just signed a contract with the guys in Conroe for putting the next 4 containers there.

Bobby Gray: So let's talk about this real quick. A couple things. First of all, um… We've just received the four latest containers from fog hashing. We bought them a long time ago. We paid for them a long time ago. It takes a couple months to produce, it takes a couple months to ship. We just got them. They just showed up last week. And so now the race is on to get those installed.

Bobby Gray: For two reasons. Number one, I don't want to go to jail. And number two, we have to… get the hash power up so we can make more profit on mining.

Bobby Gray: It's a very important thing. wasn't important like a week ago because we were losing money. So it was like oh gosh, should we turn on more mining hash power we're just going to lose more money. Well, that's gone now. So now it's a focus, a high priority to get this mining hash power installed.

Bobby Gray: Get out your calculators again because with a total of six immersion cooling containers installed in Conroe.

Bobby Gray: at 20 A6 per container, that's 1,200 ASICs there.

Bobby Gray: Plus, we've got 48 in Mansfield, plus we've got 24 in McKinney.

Bobby Gray: And so with 1,272 ASICs installed, hashing at 16,500 mega hash per second.

Bobby Gray: We're just below, just below 21 million. Mega hash. As you may recall, going back to our statistics page.

Bobby Gray: We have sold… 23.29 million mega hash. The total amount of sold purchased by miners hash power is 23.29. So the race to keep Bobby out of jail.

Bobby Gray: is to get our number to at least 23.29 million mega hash, or 23.29 terahash.

Bobby Gray: So that we can go back to you guys and say.

Bobby Gray: We sold it, we paid for it, we ordered it, we got it, we installed it. Mission accomplished. Now, the original plan was to have 35 sites scattered across the state. And that plan today, today is not feasible.

Bobby Gray: There's a couple reasons for that. Number one. Things change. And the race is on right now. I don't know if you watch the news, but the race is on right now from everyone and their.

Bobby Gray: brother's company to install data centers in Texas. Texas has got the best electricity rates in the country, abundant power, abundant land, and everyone now is racing to Texas, not to set up crypto mining these days, but to set up AI farms.

Bobby Gray: And so it's created a whole mess of red tape around the whole power conversation. So now when we call up a power company and say we need a megawatt, they go, for what?

Bobby Gray: And I go, eh, crypto mining. Well, hold on, we gotta get that approved now by the board. Okay, so that's number one. Number two is transformer availability. You know, now we're on 6, 9-month backlog for getting a transformer. So building up these sites is a lot more difficult today than it was when we started talking about it two years ago.

Bobby Gray: Doesn't mean it can't be done, it just means that it's taking a lot longer and costing a lot more to do it. Now, if you cross-reference that with the whole, uh, isn't the TSSB and SEC extremely interested now, and whether or not you guys are running some sort of fraud over there?

Bobby Gray: question, we go, okay. Look, we've had all this mining equipment. The last time we placed an order for mining equipment was, what, December on our retail therapy call, December 3rd. We bought it. We paid for it. Let's plug it in. Especially now, based on the fact that we can actually make some money, cover our costs with it, and stop burning savings.

Bobby Gray: Well, that sounds like a good idea to me. So we went back to our friends in Conroe. They've got 4 more megawatts of power sitting there, already ready to go. They said they can have us lit up and running in 30 days, and we said, great, let's go. Let's plug this stuff in, let's get the number on the website up.

Bobby Gray: Two, almost $21 million. Now… There's one more container that's in there. Technically, we got 2 more. One's an inside warehouse kind of container that we don't have a solution for at the moment. The other one is Victoria. That's where this whole conversation began. And Victoria is.

Bobby Gray: sitting there waiting for the new transformer. So go back to the calculator. If we have 6 in Conroe 1 in Victoria, that's 1,400 A6 plus 48 Mansfield plus 24 in McKinney.

Bobby Gray: That's 1,472 L9s plugged in and hashing. This is in addition to what's running at home and also the L7s, multiplied by 16,500. And check out the number. 24,288,000 above.

Bobby Gray: what we sold. And so it's going to be still a couple months for Victoria to get the new transformer that was ordered months ago, paid for months ago. But deposit paid four months ago. I don't think we've paid for the full thing.

Bobby Gray: Um, but it's in process now, and that's really exciting, because we get to present to the Tssb, we get to present to the SEC. Look, here's what we're doing. Here's how we're doing it. We don't think it's a security. Here's why. And not only is it not a security, but it's not a Ponzi.

Bobby Gray: It's not a pyramid. It's not fraud. It's not a scam. We did what we said we were going to do. We've had to modify it a little bit, you know, over time based on things that we're learning about the industry and limitations and, you know, supply and demand factors and tariffs and all that stuff, but we got through it.

Bobby Gray: and now we're caching at 21 million, um, in about 30 days, and about 24 million once we get the new.

Bobby Gray: transformer to go live in Victoria. So very exciting stuff, guys. Keep an eye on pool.texitcoin.org and also pool.iskandercoin.com because these 2 URLs are going to flip.

Bobby Gray: sometime today. And so this will become the text coin pool. It'll show you how the pool is performing, and this will become the backup pool. So we will still continue to have two pools running. One will be the main pool, which is performing extremely well.

Bobby Gray: One will be the backup pool, which is also performing well, but we're kind of happier with the new pool software. It's working. It's hitting Litecoin Doge blocks, which is very, very encouraging. Finally.

Bobby Gray: Um, but now that we've upgraded the technology, Texacoin, Iskandercoin, Litecoin, Dogecoin, and anything else that we decide to add is now very easy and straightforward for us. So big accomplishment between that and the coin market cap verified listing. We've come a long way, and it took us a while to get here, it took us a lot of.

Bobby Gray: money, a lot of heartache, a lot of stress, but we're here, and I'm very happy with where we are today. Okay, so that is the mine update. Gave you guys the legal update. We talked about the timeline, so the road tour kicks off in about a week.

Bobby Gray: We talked about the stops, and the purpose. The purpose is to just bring our community back together. We had a lot of fun in the past. We're gonna have a lot of fun in the future. We got a lot more going for us now than we've ever had. Think about it, right? When I kicked this thing off 2 years ago.

Bobby Gray: It was me and an idea. The basic premise is exactly the same today as it was two years ago. Two years ago was, look, if we can crowdsource this budget and build this mine, we're going to show up in the top 100.

Bobby Gray: Well, we crowdsource the money, we built some mine, we didn't get all the way to the goal, but we got really far. We did really well. And it's, you know, kind of our default reaction now is to look at it as like, oh man, we failed. No, no, no. Failure is just a way of describing a result that we didn't want.

Bobby Gray: We all did great. We crushed it by any measure. We did very, very well. And so now it continues. We've learned some lessons. We've made some changes. We've improved some things. We're smarter now. We're more prepared than we've ever been, and we're ready to.

Bobby Gray: Get that train going on down the tracks. I always struggle with like the metaphors. I don't know if it's the rocket ship that got grounded or the train that… derailed, or what the right analogy is, but the point is, we're still here, we're still moving, and we want you to come with us. And if you're not sure about it, it's all good. We're not looking for, um, you know, our mining community to like.

Bobby Gray: Make a conclusion on this call. Uh, if you're a minor, you're a minor. Your mind's still paying out. It's been paying out every day. It's working great. Use the network. But as we continue to go down the track, um, towards our goal, we're going to be ready to get going.

Bobby Gray: And so we want you guys to come out, look us in the eye, see that we're just as serious today as we were about 2 years ago. See that we've got a couple tricks up our sleeves still, and and determine if you'd like to continue to participate in a meaningful way, which we'd love to have you do.

Bobby Gray: So having said all of that, I'm going to move on now to the major part of.

Bobby Gray: tonight's discussion gauge. Mitchell, is there anything that I should cover before we move on to the fun stuff?

Bobby Gray: I would just ask, uh, one thing to touch on the road stops. If you guys could please RSVP would help us out tremendously. Uh, I'm working on putting together a one PDF sheet that's going to show every location and a link to RSVP. There'll also be individual flyers going out, so you can share those for your area.

Bobby Gray: But when they do get released, a good chunk of them will be released tomorrow on Telegram, so keep an eye out for it. Please go through there and RSVP for any stops you plan on being at. It would help us tremendously.

Bobby Gray: Cool. Okay, so… so what I want to talk about on tonight's call is a little bit of a.

Bobby Gray: recap of. The Friday night.

Bobby Gray: coffee and cocktails ranger update chat that went down. And so if you haven't.

Bobby Gray: already heard. I like to get together with the rangers on Friday night in an informal, you know, laid back, grab your drink, grab some popcorn discussion, not, you know, anything other than just here to connect and spend a few minutes together.

Bobby Gray: Well, the last couple Fridays have been fairly interesting in terms of those calls, because we, um, we've been talking a lot about.

Bobby Gray: getting the band back together, as a lot of people will point out, the band never stopped. But we've been talking a lot the last couple of weeks about Ford progress.

Bobby Gray: And how important it is for us. We go out to our community and we say, we're not an exit, Sam, excuse, Bobby's still here. Yeah, well, if the project is not moving forward in any kind of meaningful way, it may as well be an exit scam. Doesn't matter how good your intentions are, what's the saying about that?

Bobby Gray: Point is that you might want to keep going, but if you're unable or unwilling, or you don't have the resolve to move forward, it's over.

Bobby Gray: And so we need to keep moving forward. Okay, we've got this issue. We've got that issue. We've got plenty of challenges. The odds have always been stacked against us, but we got to find a way to proceed.

Bobby Gray: And so, I've been on kind of a relentless pursuit for the answer to that question for the last better part of two months now.

Bobby Gray: And the reason for that is because. You know, we.

Bobby Gray: set out on a couple different paths, and a lot of those paths have resulted in potholes, roadblocks.

Bobby Gray: whatever the things are that get in your way as you try to go down a path. First, the TSSB was a pretty big obstacle. Second, the, um… the Middle East conflict was a disaster disaster for us. And so.

Bobby Gray: I've been looking at this project and saying, how do I… how do I come up with a plan?

Bobby Gray: That takes into considerations ever-changing world. These geopolitical things that are way outside of our control.

Bobby Gray: That didn't work, let's try, try, try again. And so the goal is to kind of get to the fundamental issue of what we're dealing with primarily from an SEC thing. Look, we can never control this macro geopolitical stuff.

Bobby Gray: You know, we can not plan events in potentially hostile zones. How about that for a novel idea? But who knew?

Bobby Gray: There hasn't been a problem for 20 years, now all of a sudden there's a problem. We did a big event in Puerto Verita.

Bobby Gray: You know, back in February as well. Then a war broke out there. You know, it became a battle zone. So, look, some of these things are always going to be outside of our control, and we're just going to have to do the best we can to navigate, you know, through those issues.

Bobby Gray: But ultimately, the goal has been to find a way for us to deal with this question of security, because we've got the Tssb's action with the cease and desist in Texas, but we're looking at 49 other states and saying, well, let's go.

Bobby Gray: But what we don't want to see happen is we don't want to see ourselves get a cease and desist from this state and that state and the other state. And next thing you know, we start Xing states off the list. Sooner or later, we go, well, I guess we can't do it anywhere. We'll go overseas like everybody else. Nobody else is marketing in the US. We are real project, real people.

Bobby Gray: So we have to find a way to stop that.

Bobby Gray: And so, as I've been going through and working with the attorneys and doing our legal research, preparing our, you know, our defense, I came across something that I've been really happy with.

Bobby Gray: And what we're trying to find is an analogy, a way of explaining what we really are, because we're not like the other things that have come before us that have either failed or been… Handedly shut down by regulators.

Bobby Gray: We're different. But what makes us different? What's the essence of what makes us unique? We're kind of like a co-op. And we've been saying this for a long time. We're kind of like a co-op where people put their money in. We know that there's money involved. We're not saying that there's not.

Bobby Gray: you know, money changing hands. There's a lot of money changing hands, and we put that number on the website.

Bobby Gray: So there's money that comes in, and people kind of pull it together here, so that's 1 and 2 of the Howey test.

Bobby Gray: But then, after that, we… Get way off track.

Bobby Gray: Because what's our expectation of profit? We go out there and we tell people we're doing this crypto thing. Crypto is incredibly volatile on the Texacoin website. It says it's not an investment. You should be prepared to lose everything you put in. I mean, it's right there. It's always been right there on the Texacoin homepage. Do I need to.

Bobby Gray: pull it up to remind us. pages changed, but the frequently asked questions at the bottom are exactly the same. Highly speculative. No one should put no one should purchase any more than they are prepared to completely lose.

Bobby Gray: Are you for real? Um, so this has always been there, right there, front and center. We tell people, you should be prepared to lose money. Is that an expectation of profit? I don't think so.

Bobby Gray: And then number four on the Howey test is really the big one, which is the work of others.

Bobby Gray: Well, we have a coin that has no value. It is our community that comes together that gives the coin value. The very essence and nature of our affiliate program participation is what drives the value of the coin. We call that Metcalfe's law.

Bobby Gray: And so we're trying to explain this concept. And the best analogy that I've come across is a co-op. It's kind of like a co-op. Put your money in.

Bobby Gray: the workers get out there, and you get a basket of, you know, fruit and vegetables at the end of the week, you know, for us, you put your money in, you get a… digital basket of coins every single day.

Bobby Gray: Up or down, the mind finds what it finds, the number is not guaranteed, it's always different.

Bobby Gray: And that's it. And then you've got all the work to do, not just in giving it value, but to receive it in your wallet, to secure it, to transfer it to an exchange, to set up a sell order, to monetize it, to transfer that back to another exchange, to withdraw to your bank account. There's all this.

Bobby Gray: work that goes into actually having it be worthwhile and valuable or you got to find a vendor that wants to accept it and use it as a payment, as many people have done.

Bobby Gray: And so when I came across this co-op thing, I said, man, that's a really great way to explain who we are, what we do.

Bobby Gray: Why don't we? organize this as a co-op. Really, the only thing that's different.

Bobby Gray: is the profit, the ownership right now. I'm the owner. I get to keep the profits. Go me.

Bobby Gray: If we reorganize as a co-op, all of a sudden now every participant becomes kind of like a shareholder, an owner.

Bobby Gray: And so the profits get distributed, you know, if there are any, not to me, not to one guy that's now, you know, the guy that everyone's look at as being the one that's extracting value from the community.

Bobby Gray: but. The community gets to share that.

Bobby Gray: And I thought about that, and I said, man, that's a really cool thing. Okay, I gotta step out of the profit. I've done well so far, I'm happy where I am.

Bobby Gray: But if we bring in the community as participants, and we reorganize as a co-op. What does that do to the security conversation? What does it do to the network conversation? It changes all of it.

Bobby Gray: And I was really excited about it for a long time, but it wasn't until I had a good conversation with council.

Bobby Gray: that I confirmed that it's our path forward. Because when we hit the cease and desist, we said, look, we've got to change something here. What are they not like? They don't like the MLM. That's pretty clear. You read through the cease and desist. It's all about mining packages, mining packages, mining packages.

Bobby Gray: They don't like the MLM. And I don't blame them because I wasn't an MLM guy before I started this. So there's that.

Bobby Gray: And the crypto community doesn't like MLMs because they've seen them all and they never work out well.

Bobby Gray: So they probably are looking at that. So let's eliminate that. Let's make a change, eliminate the MLM thing and a whole giant groan.

Bobby Gray: percolated across our community. And I said, I know, guys, I know I liked it, too, which is impossible. Even Eddie liked it.

Bobby Gray: And I said, we have to change something big, substantial, or we're going to continue to get tripped up here. And if we keep getting tripped up, how do we ever move forward? So we got to change something. Okay.

Bobby Gray: But as I started looking into this co-op thing, I started realizing kind of two things. One, the elimination of the MLM thing isn't, um… you know, one size fits all issue for the security thing.

Bobby Gray: and 2, and this is mind-blowing. And this is very new in the last, you know, couple of days here as I've been getting into all this stuff. But the second thing is that.

Bobby Gray: I kind of believe today that the MLM component is actually more of a security than the crypto stuff is.

Bobby Gray: And you go back to the comp plan idea, you put a comp plan in some in front of somebody, and they go, okay, well, there's my reasonable expectation of profit. And then you tell them that they do their 3 left and the 3 right, and they get Brig on one side, Mitchell on the other side, they get to kick back, and it's passive income for the rest of their lives.

Bobby Gray: solely from the work of others. So now you've got money in a common enterprise with an expectation for profit from the work of other people.

Bobby Gray: So I would challenge you guys, and not all of you are going to agree with this, that's all good. I would challenge you guys to consider the words in the language that maybe you've used or you've seen used.

Bobby Gray: on social media posts. passive income, you know, sit back and enjoy the ride. Do your left and right.

Bobby Gray: magic money, rapid rewards. You know, we've all said those things.

Bobby Gray: and I'm looking at those things now, and I'm saying, man, that's a problem.

Bobby Gray: Now. We dealt with that not based on our understanding of securities laws, but our understanding of fair and equal change of value. You can't have the guys at the top making all the guys at the top making money forever and not doing anything because.

Bobby Gray: How long is it before that dies? And so we put rules into our system that a lot of people didn't like commission potential.

Bobby Gray: To eliminate that possibility. We said, you can only make so much. That's why it's an affiliate program and not an MLM. And then we said, whoa, whoa, whoa, hold on. If you're a builder and you know how to do this stuff, and you're going to commit to helping and managing your team and doing Zoom calls and all this stuff, you become a ranger, and we get rid of the commission potential cap. We got 130-something rangers.

Bobby Gray: But those rangers are expected to continually participate. In order to continue to get that check. And now we've eliminated possibility, or shoot how we test number four.

Bobby Gray: I'm not gonna get too deep into the legal stuff tonight. We've already hashed out those conversations. My point is that.

Bobby Gray: I've talked with the team and we've talked with the ranger community and we've decided to make a really deep, substantial, fundamental change that maybe you've even heard about so far.

Bobby Gray: We are reorganizing as an official entity. We were never kind of an official entity. We're always Bobby's blockchain for a while. And now we're reorganizing as the Iskander.

Bobby Gray: Digital Mining Cooperative. The Iskander DMC. And it's a really big deal, guys, because it is our path forward.

Bobby Gray: It's not a silver bullet doesn't doesn't deal with every question of everything forever.

Bobby Gray: But it does take a couple big bullets out of the regulator's guns.

Bobby Gray: Now we all have a shared interest in the success and outcome of the project. It's not one guy.

Bobby Gray: That's here extracting that value from the community. It's the entire community in this together.

Bobby Gray: As owners of it. It's kind of like a security, but because it's organized as a cooperative and there's profits, if there are any, which there won't be, are all distributed back to the community.

Bobby Gray: Now, all of a sudden we don't have to worry about that. Excuse me.

Bobby Gray: So moving forward, we have a plan, and it's a good plan. And I'm very happy with it. I was so excited. I could barely contain it for a couple of days. I made it to Friday night, shared it with the community. Mitchell, tell us what the response.

Bobby Gray: has been, like, from your perspective since that Friday night conversation.

Bobby Gray: It has been absolutely phenomenal. I haven't seen the level of excitement that I'm seeing in quite some time. Bobby announced it on the Ranger call, and my phone almost exploded on the desk. People texted and calling me before we even got off the call, so… The community is excited. I'm excited, and we're ready to move forward.

Bobby Gray: Oh. Pause for one second there, because I want to talk about why they're excited, because it's not about.

Bobby Gray: the basic of the co-op, okay? So the co-op is going to give the co-op participants more transparency than we've already had. You know, we'll have full transparency, not just a whole lot of transparency.

Bobby Gray: Um, and it's gonna give them more, um, you know, more ability to participate in the decisions. We've done that before. We've had a couple votes, but now anything that is going to modify the Constitution of the co-op is going to require, you know, an approval from the General Assembly.

Bobby Gray: And so it's going to give you more insight. It's going to give you more ability to, you know.

Bobby Gray: affect and participate in the outcome of the management of it to a certain extent. But those aren't going to be so earth-sheddingly different. That's the whole thing.

Bobby Gray: The whole thing, the reason that people are excited is because I said, look, here's what we're going to do. We're going to reorganize as a cooperative.

Bobby Gray: And we're going to set up committees. And the committees are going to take care of things like, you know, enrollment, they're going to have a mining committee, or have this committee, that committee, and the other committee. But one of the things we're going to do is we're going to immediately organize a committee for reviewing the compensation plan. Because right now we've got a flat 20%, um…

Bobby Gray: cash affiliate program for it. We got a 30% affiliate budget, affiliate comp plan budget, and we've got, you know, BOGO, Trogo, Quogo, Rewards, etc, etc, etc. But the first thing we're gonna do as this new.

Bobby Gray: cooperative comes together is we'll organize a committee. To do two things. Number one, figure out what went wrong.

Bobby Gray: With the Texacoin comp plan, with the Mind TXC comp plan. It's a really big question. You know, I've got a long list of things that I think are problems. You've probably got your list.

Bobby Gray: uh, miner out there. But we got to figure out really why that thing lost steam.

Bobby Gray: And we've talked about 8 substantial things so far. We won't get into them on this call tonight.

Bobby Gray: But we gotta figure that out, because if you can find out what went wrong and you can change it, then the community can decide if they want to vote to bring back some of those elements that made.

Bobby Gray: our project so exciting and successful in the first place?

Bobby Gray: And I think that is. what started getting the excitement going and the blowing up of the phones and all that stuff.

Bobby Gray: the possibility that this thing could get back to… because look.

Bobby Gray: I definitely think that the MLM part of it is not just a shoehorn. I think that it's a contributing factor to this question of security. I think we've already dealt with it, and I don't think they know that. In fact, I'm sure they don't know that.

Bobby Gray: But if we can continue to… apply the things that we're learning, and we're getting a really good education in these concepts, and move forward with a structure that addresses these things head on. And that's really the key. You know, step one is structure. We need to have a structure that gives us the ability to.

Bobby Gray: Communicate what we are. to the regulators. So the next time a regulator gets our file on their desk, they go, well, what are they? Oh, they're a cooperative. Well, why are they a cooperative? That's weird. We're cooperative because electricity is expensive.

Bobby Gray: And if you're trying to mine at home and you're fighting industrial miners that are getting power at half the price that you're paying, it's almost impossible.

Bobby Gray: You know, it's almost impossible to do it, you know, break even and profitability is extremely difficult.

Bobby Gray: And so we put together kind of a preamble for the IDMC.

Bobby Gray: that communicates this, and that'll be front and center on the website. And the reason that that matters is because as soon as our file comes across a regulator's desk, they can go and they can read, and they say, well, they're a cooperative, you know, which kind of eliminates this, this, and this, and they seem.

Bobby Gray: You know, by the book, and they do a good job with their transparency and disclosures and their, you know, monthly financial statements and their annual audit.

Bobby Gray: And, you know, all the proceeds that the organization creates, the profits that are created, they go back to the community, and they put it out to a vote on what to do with the excess money at the end of the month or the quarter, and they, you know, put it into new influencers or marketing initiatives or whatever, whatever the community decides.

Bobby Gray: It's not much here. They've got a comp plan that's, you know, extremely limited and requires active participation out of the people that, uh, you know, that don't have a limit on how much they can earn. And so, look, as we learn these things and we make important fundamental changes to deal with it.

Bobby Gray: I think it really clarifies it not just for us, for our own sake, but also for the regulators that are going to continue to look at this as we continue to do well. You know, we can't have supercars driving around the streets. We can't have airport ads up, you know, all over the.

Bobby Gray: largest airports in the country without somebody seeing it sooner or later and handing it off to someone to investigate. And if we can make a better presentation.

Bobby Gray: By having lawyered up, you know, with the best counsel in the country on this subject.

Bobby Gray: Then at least we're not going into the future flat-footed. And that's a really important thing. So learning from our experiences, making fundamental changes to address the core problems that the heart of the matter.

Bobby Gray: And being ready and prepared so that if we get a cease and desist from some other state, Idaho drops a cease and desist on us, we've got our documents over, we show them what they missed in their evaluation, and we keep going.

Bobby Gray: and it doesn't derail us like what happened in Texas.

Bobby Gray: And so a couple things. that make this important and give us the ability to wrap up this call.

Bobby Gray: First of all, this has happened. It's not happening. It's not an idea that we're considering. It's a done deal.

Bobby Gray: And in order for it to be a done deal, we've got a couple different components to finalize, and then we go back to our community.

Bobby Gray: We are organizing as a DUNA in the state of Wyoming. Wyoming is an extremely crypto-friendly state. It is the most crypto-friendly state. It's the most co-op friendly state. It's created its own set of rules for DAOs.

Bobby Gray: decentralized autonomous organizations. It's created its own set of rules for decentralized, unincorporated nonprofit associations.

Bobby Gray: And so we're organizing ourselves now. As a Wyoming Dunner, D-U-N-A.

Bobby Gray: And the reason for that is because. It gives us a lot that we don't have now. It gives us a path forward. It brings you guys in as decision makers, as owners, as participants.

Bobby Gray: And that's a big deal, guys. I don't want to get into the philosophy behind all of it on tonight's call. But I do want to tell you that it was not something that we did quickly, lightly, or easily.

Bobby Gray: There's a lot of conversations to reach a point where we said, yeah, this is what we have to do in order to give ourselves the security, security, get rid of the security, unsecurity.

Bobby Gray: and start moving forward. and do it with our eyes wide and open. You gotta remember, I've never talked to a lawyer about this stuff. We got pretty far with the Bobby's best guess.

Bobby Gray: Well, that's not going to work going forward. We can't go into this and go, I don't know, I don't know what the rules are. I don't know.

Bobby Gray: We'll figure it out. Well, now we figured it out. We've got great counsel on retainer.

Bobby Gray: and their exact words, ride or die. Let's go. Lawyered up. Let's prepare ourselves so that if this happens again, we're not caught unawares, we're not caught flat-footed, we're not caught unprepared.

Bobby Gray: We go in there with the best people in the industry, show the regulators what they missed.

Bobby Gray: put it behind us and move on. and we move forward.

Bobby Gray: forward progress above all else is what this project needs to be successful. Honest money doesn't pivot.

Bobby Gray: It doesn't change its mind. It doesn't give up.

Bobby Gray: We're here. We're doing it. We're going on the road. We're taking this thing to a town near you in the next couple of weeks. If you're on the East Coast.

Bobby Gray: We'll get the West Coast tour happening shortly thereafter, but we've got a plan. And the plan is good.

Bobby Gray: And we've got a really great team. That is.

Bobby Gray: up to speed, excited about it. And going to take a more active role. Now, last part of this conversation.

Bobby Gray: I have to move on. And there's a reason why I have to move on. It's not me quitting. I'm not out. I'm going to be chairman of this thing.

Bobby Gray: But, remember that we need to… Go out there and we need to get the love and admiration and support of the mainstream crypto community. That's very, very difficult.

Bobby Gray: if they see us as an MLM. I remember how I felt looking at BitClub and other projects like that, going, never. Over my dead body. What are you doing here? Get your scammy MLM out of here.

Bobby Gray: I've come to learn a lot and I've come to like it a lot. I'll be the first to admit it. Second, after Eddie.

Bobby Gray: I like it a lot, but as long as I'm on this Tuesday night call talking about left legs and right legs and binaries and points and commission potentials and ranger… this and that, and the other thing, I'm not able to go out there and represent us to the cryptocurrency industry. Look, we're on CoinMarketCap now. The stakes are higher than they were before.

Bobby Gray: We've got new projects, we've got our ecosystem building out, we've got an education platform come together, we've got a gaming platform coming together. We got all of this stuff.

Bobby Gray: which is really great, because now the mind building affiliate Mlm smelling thing is just one piece of a puzzle that's getting bigger week by week.

Bobby Gray: And my job now, moving forward, is to find a way to continue to connect these dots that make up our ecosystem so that the value of these projects kind of grows, you know, in parallel, proportionally grows in, you know, tandem.

Bobby Gray: you know, we don't want to see Texacoin take off in Iskander left behind. We don't want to see Iskander take off and Texacoin left behind. Like, well, what's the utility? What's the purpose? What are all these things doing? How do these dots connect? That's what I need to work on.

Bobby Gray: I've asked Mitchell. If he would be willing to step up.

Bobby Gray: you know, 50% of our entire community is is directly under Mitchell.

Bobby Gray: He's got the admiration, he's got the respect, and he's got a lot more knowledge. I mean, number 8 on my list of things that what… of what went wrong with Mind TXC. Number 8 is bad leadership. This guy.

Bobby Gray: I've never done this before. I don't know how to do it. I did the best that I could, not based on my understanding of securities laws or MLMs, but based on the idea of an equal exchange of value.

Bobby Gray: What's kind of been nice and refreshing is that that basic comic premise, that basic concept.

Bobby Gray: is probably what's going to get us, you know, keep us out of jail. Not keep us out of jail is what's going to help us overcome this accusation of a security.

Bobby Gray: Which is really cool. Go meet. But the point is, moving forward, I need to continue to build a bridge into mainstream crypto, which means I can't be here on a Tuesday night call talking about left and right and performance and bonuses and all the stuff that makes.

Bobby Gray: the affiliate program that we created a lot of fun. I've asked Mitchell to do it. And Mitchell has been very gracious.

Bobby Gray: Talked with his family and has accepted. I don't want to speak for you here, Mitchell, feel free to jump in. Has accepted the challenge of bringing our community back together.

Bobby Gray: Setting a committee. in motion to figure out what went wrong and evaluate.

Bobby Gray: the possibility. of bringing that fun, exciting thing that we created.

Bobby Gray: back around. for another another go.

Bobby Gray: What do you think? Can you do it?

Bobby Gray: I can. And the beautiful thing is, you know, Bobby says bad leadership, guys. I… we told him not to say that, right? But Bobby does what he wants. Because it's not, you know, there's always room for improvement in everything, but look how far his vision has gotten us.

Bobby Gray: I mean, we have the absolute greatest admiration for you, Bobby. But the truth of the matter is.

Bobby Gray: The way we're structuring this, guys, it's all new. I mean, I'm gonna be there to steer the helm, and I'm gonna be there to… to assist and help in many ways, but this is a community-based effort.

Bobby Gray: And so, I'm excited to… look, we have so many incredible people in our community. The level of talent and skill and know-how in our community just blows my mind.

Bobby Gray: And, uh, so we're going to be leveraging that. I'm going to be reaching out to you and asking for your help, because this is a community-based project. And I can tell you guys.

Bobby Gray: I know there's a quote that says, um, hardship is the filter.

Bobby Gray: And those and things that, that, uh. survive it become successful.

Bobby Gray: Man, don't I know.

Bobby Gray: There's no doubt that we've been through hardship, right? There's no doubt. It seems like we have been hit every single angle. And we're here. We survived it. People thought Bobby was going to take off and run away. It was going to be the rug pull time. Didn't happen.

Bobby Gray: We, uh, we hunkered down and we got things done. And we've survived the hardship, and I'm looking forward to an incredible year of success.

Bobby Gray: Thank you for that. It's all very good and true, but you gotta remember that this thing really took off when.

Bobby Gray: the people that are proficient in network marketing got involved. You know, I started in April 1, 2, 3, 4 people. Next thing you know, we hit profitability in November, but it wasn't until, like, early 2025 that we really broke out, you know, and had guys like.

Bobby Gray: coach and Thomas and Greg and Carl. Look, there's a lot of great people out there that help this thing really explode. Angelo, Brig, you know, but but you can see those numbers go like that. Why? Because that's what MLM does.

Bobby Gray: That's the power of compounding exponential results when you bring people together. And the guys that don't understand Mlm will never get it, and they'll hate it forever.

Bobby Gray: And as far as I'm concerned, I don't care about.

Bobby Gray: um, ignorant opinions. because we're not an Mlm. We're not a pyramid. We're not a Ponzi. You know, if you're not willing to take a moment and discover why we're different from all those other things.

Bobby Gray: you know, I got no words for you. You know, what's the line? For those of you that believe no other words are necessary. For those of you that don't believe, there's no words I could give you that would cause you to believe. So, you know, look, you won me over. I'm a fan. My way.

Bobby Gray: And I'd encourage you and the committee that comes together to evaluate that question of what went wrong and what can be changed.

Bobby Gray: To make it better, to keep those core principles right there in the center of your mind, in the center of your heart, equal exchange of value.

Bobby Gray: You know, something fair, something that anybody can do, anybody can put a little bit of effort in.

Bobby Gray: make a little bit of money, and then if they want to go to the next level, educate, participate, you know.

Bobby Gray: and run with it. That's how this community got to where it is now.

Bobby Gray: With a co-op format, it gives us a real structure for the first time.

Bobby Gray: It's not just, we don't know what we are. Now we know what we are. We know exactly what we are. And the only thing different is that I've got to give up the profit, which is great. My back end is Texacitcoin.

Bobby Gray: My game over coin is sitting right there. That's my prize.

Bobby Gray: I'll make some money by participating in the board of directors over on the co-op. But as far as the real money is concerned, the real money is in the success of our project, which means we all get to win together. And that is something worth getting excited about.

Bobby Gray: So in summary, this is my last call. Now, it's my last miners call. We're building the mine. We'll continue to continue communicate with you guys about how that's going. You'll see the results on the website. Your mine will continue to pay out.

Bobby Gray: And the people that want to choose to join Iskander and play an active role in steering the ship with Mitchell and the other leadership that's already jumped on board is welcome to do so. We've got about 400 people in Iskander right now. We've got about 30 plus thousand unique people in Texacoin.

Bobby Gray: So as far as I'm concerned, there are still a whole lot of you.

Bobby Gray: that could take a moment and evaluate the possibility of joining Iskander as well. What is Iskander? Iskander is the network.

Bobby Gray: We should have never called Texacoin and Mind Txc the same thing. We did. Lesson learned. They're now separate. Texcoin is a digital currency.

Bobby Gray: Iskander is a community of people that are helping to build the mine, which is still the core.

Bobby Gray: assumption on how we get to the top of the industry.

Bobby Gray: As we start building the mind, the mind takes more and more of those Doge and Litecoin blocks. They can't ignore us.

Bobby Gray: We get ourselves up to the top 3 on that list.

Bobby Gray: We'll be the talk of the town. That's the goal.

Bobby Gray: Now, as we expand internationally with ISCAN and other projects, wow, we might be number one for all we know.

Bobby Gray: Wouldn't that be great to be the largest privately owned mine, member-owned mine in the world?

Bobby Gray: You guys have asked that question for a long time. Who owns everything in the co-op format? You're going to own it.

Bobby Gray: But if you haven't joined the co-op yet, if you haven't joined Iskander, you're going to need to consider that.

Bobby Gray: You're going to need to consider whether or not you want to do that, because it's not automatic. We can't just shift everybody over, because you've got to sign an agreement.

Bobby Gray: We have to have new money come into Iskander in order for it to start to build out its assets and resources.

Bobby Gray: I told you I was going to only ask you for money one time, and that's it. Your mining's in, your mining's gonna continue to pay out, we're continuing to work on building value for Texacoin through utility and all these other pieces, and that's not changing at all.

Bobby Gray: But if you'd like to play an active role in the continued growth and success of our project, and you're not in Texas because Texas is still under cease and desist, even though his candor's got a different name. We're not trying to get around the C and D.

Bobby Gray: If you're not in Texas, and you'd like to continue helping us build to get the fund back to bring the community back, to remind ourselves.

Bobby Gray: And everybody else. that it is our moral and responsibility to spread our message of peace and prosperity. And guys, there couldn't be a more important time to do that than right now.

Bobby Gray: Right now. What if people realize that not everything is doom and gloom? What if people realize that there's a bunch of people out there that are getting together, breaking bread, sharing time and energy and excitement and enthusiasm with each other about honest money.

Bobby Gray: Honest money is something to get excited about, because it fixes most of this stuff.

Bobby Gray: It's hard to see sometimes what the connection is between those dots, but it's there.

Bobby Gray: You know, we just put the quote on the website. When destroyers appear among men.

Bobby Gray: They start by destroying money. Because money is our way of exchanging value.

Bobby Gray: We got.

Bobby Gray: Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence.

Bobby Gray: And I'll leave you with that quote. for our time together tonight.

Bobby Gray: Guys, you gotta take it all in. You got to consider the good, you gotta consider the bad. We're not going into anything blind.

Bobby Gray: You know, the only thing that we can do wrong is try to escape or evade reality in any way whatsoever.

Bobby Gray: Let's go into this with eyes wide open, aware of the risks, aware of the challenges, aware of the setbacks, where are the opportunities, aware of the possibilities.

Bobby Gray: Let's take the good, let's take the bad. and let's move forward together, if you like. I'm going to be here every week, week in, week out. I'm just going to shift to a different night. I think I'll probably go back to Thursdays and have a Texitcoin introduction and conversation about honest money every Thursday. So if you want to connect with me.

Bobby Gray: You'll do so on Thursday. You want to connect with Mitchell and our Iskander Network community. I think that that's going to continue to happen on Tuesday? Does that night work for you, Mitchell?

Bobby Gray: worked perfect. We got more details very soon.

Bobby Gray: Tuesday it is. Thank you to the 300 plus people that have joined for tonight's call. Let's go to my favorite part, the Q&A.

Bobby Gray: What do we got in the Q&A? Gage, is there anything I forgot to mention?

Bobby Gray: Um, no, I think you covered everything pretty well. Um, just as good as anybody could.

Bobby Gray: Uh, we only have a few questions, though. It's light on the questions. Me and Mitchell's been answering a lot of them.

Bobby Gray: Um, but there's a few here. The top one, I just wanted you to notice how, you know, this lady has a friend that still wants to join Texacoin, you know, there's still a lot of people out there that want to join our community.

Bobby Gray: Hi, Gage, I have a friend from California, and she wants to join Texas and be a minor. She wants to buy 9 seats, and I want to be her sponsor. Can she do that now? She sure can. Look, um, as this new format comes together, we'll have the sign-up pages and all that stuff working, uh, the same way that they did before for everybody outside of Texas.

Bobby Gray: But yes, you can. As long as you know what you're getting yourself into, okay? Like I said, we want to be upfront with everyone. Um, you know, one of the things we point out in the letter that went into the, um.

Bobby Gray: Texas State Security Board. thing today is the fact that, you know, we're not alleged to have made a single untrue statement to anybody.

Bobby Gray: Where is our website? Texacoin. Oh, I guess it's not there yet.

Bobby Gray: We want to be upfront with people. encourage them to do their own research, and if they come to the conclusion that they want to join, and they have the money to put at risk, then please do, because we're having fun.

Bobby Gray: and we're trying to do something exciting. So yes.

Bobby Gray: Please join us. How is the new terminal tech Bobby got from Dubai going? That's actually an interesting question, because I have a conversation with them today. What time is it today? I think it's around 1 o'clock today. We will see how it goes around 1 o'clock today.

Bobby Gray: But we do have another… we've got four teams actively working on the terminal technology stuff.

Bobby Gray: We've got a VINDAX team, we've got a NFC app team. That's the guys that wrote kind of another code base that we found. We've got the Mali possibility and we've got our core team that's now working on it as well, which is great. So we need that for the fair money project. We need it for the downtown digital project. We need it for the other project that I'm not talking about.

Bobby Gray: And then we're finally making progress on it. I'll have an update for it.

Bobby Gray: today's meeting. Two questions. Do we have an ETA when we'll be able to monitor RISK? Yeah, guys, look, almost all the sales are entered now.

Bobby Gray: It's been a process. Once everything's in, we are going to call every Iskander miner individually for two reasons. Number one, we're going to verify that we got it right. As soon as we start coin distribution and rewards sending to the wallets, we can't get them back.

Bobby Gray: So if we make a mistake and we send out 7, 8 million coins and we got it all wrong, there's no going back.

Bobby Gray: very, very important that we get it right the 1st time. And so we'll call you and make sure that we've got it entered in exactly the right way. Number one. Number 2, we're going to invite you to.

Bobby Gray: to join the Iskander Dmc. The digital mining cooperative. It's very important. Okay? In order to join, you're going to have to read the Constitution, and you're going to have to sign the member agreement. Now.

Bobby Gray: I think… let's not get into that right now. But that's what you're gonna have to do.

Bobby Gray: We're not doing KYC, we're not doing social security numbers, it's an unincorporated nonprofit association, decentralized. So that's kind of important.

Bobby Gray: Won't get into why, but do your own research on that. But we're going to need you to agree to the Constitution, because if you're going to be a member in the co-op that you've got to sign off on what the co-op rules are. So we'll introduce that to you in a quick phone call.

Bobby Gray: If you'd like to participate, our expectation is that everyone will, because the only thing that really changes, besides the fact that you got to like check a couple boxes and hit I agree is that all of the money that is made through the activities of the co-op.

Bobby Gray: get used for the benefit of the co-op. Now, we were looking at a DAO.

Bobby Gray: versus a Dunna. The done is better.

Bobby Gray: You can do your own research and figure out which one you like better. But the data is not just better, but it's also more applicable for who we are and what we're doing. The problem with Dun is that we can't have a profit distribution. The other day when we were talking about it, we said, look, let's suppose we make $3 million, we've got 100,000 members. Does every member want a disbursement check and a 1099?

Bobby Gray: Or do we want to use that money for another influencer, another marketing campaign? With the Dunna, we can't do disbursement checks.

Bobby Gray: Or we would have to convert out of the Duna format. So we're doing the Dunna, which means that all of the proceeds we're allowed to have profit. We just have to use all that profit for the benefit of the community.

Bobby Gray: So keep in mind, keep an eye out for that phone call.

Bobby Gray: For a confirmation of exactly what you got with this candor and then a confirmation that you sign off on the co-op rules. Do we have an Eta? Okay, do we know when Isk goes live with Dexter and Bitcoin? It's dextrate and BitMart, and we are scheduled for the end of the month, April 29th was our original go live date.

Bobby Gray: I think we're going to actually do that still based on all the revisions. Do we have an ETA on being able to have the site altered to help people join the TXC community? No, that's step two, because that also goes into the new co-op format.

Bobby Gray: What is the ISK mine being built geographically? The 1st mine is going to be in Northern Europe. Northern Europe is the 1st mine.

Bobby Gray: I don't know exactly how much I will be able to show you guys in terms of that. Obviously, in the co-op format. You're going to get to see everything.

Bobby Gray: Um, the big challenge all along with this project has been, like, finding that fine line between, like.

Bobby Gray: censorship, resistance, and transparency. We got to where we are now because of transparency. So changing that fundamentally would be really bad and disingenuous. So we have to keep moving forward with transparency. Obviously, in the co-op format, you get everything because you've got the rights to all that stuff.

Bobby Gray: Um, but… but what we do want to do is we want to have a network that's resilient. And so we might vote to have some portion of our network, you know, without disclosing exactly where it is. Northern Europe is where the 1st batch of Iskander miners is going to go.

Bobby Gray: Where's this going? It answers that question. Done. Do you think Txc will ever be listed on the Texas Stock Exchange that opens in July? You know, guys, that's a really… interesting question.

Bobby Gray: Time will tell what our relationship with Texas is going to look like in the long term.

Bobby Gray: be more specific, McKinney. You know, we bought a building in McKinney. Headquarters is McKinney. We had a great relationship formed with the Chamber of Commerce. We bought them a car. We wrapped it.

Bobby Gray: gave it to him. They gave it back. Is the bridge burnt forever? Is McKinney still a viable option for us to start our downtown digital program? Maybe, maybe not.

Bobby Gray: Um, we'll see what happens as the dust settles on this TSSB thing. Obviously, if we lose the TSSB case, you know, pretty much our time in Texas is… uh, gonna have to fundamentally change. If we win, which I expect to win.

Bobby Gray: We take a look. We see who's out there. We see who apologizes, who's turned their back on us? Well, you might not be. You might have won because your lawyers were clever, but you're a security, and we don't want to have anything to do with you. Okay? So we'll see.

Bobby Gray: Um, as far as the Texas Stock Exchange is concerned, the idea for that was with Downtown Digital. That's still a possibility, because I still do like that idea.

Bobby Gray: We may or may not need it. The thing that gets so big so fast that we're looking beyond.

Bobby Gray: Don't quote me on any of that stuff. Time will tell. What happens to people in Texas that can't be a part of the co-op yet? Will we get the same opportunity later? Look, the co-op is going to be open to anybody.

Bobby Gray: you know, the co-op will establish the rules through the membership committee as to who's allowed to join. We can't promote it. We can't sell it to you.

Bobby Gray: We can't, you know, make a big deal about it in Texas, but we'll leave it at that. Where there'll still be room to join the co-op for people in Texas once the season is listed, of course.

Bobby Gray: Once the cease and desist is gone, it's game on. Do you know how to figure out Texacoin, the value, etc, how to take it out and use it? There are a lot of questions in there. I would encourage you to go to the help desk, help.mindtxc.com. You'll find a lot of good answers to questions there.

Bobby Gray: What is the liquidity update for TXC, BTC, Ltc, gold, properties, etc. I'm not going to get too much into that right now. I will tell you that our USDC, our Ethereum and our Bitcoin has been liquidated. Some of our gold. None of our properties, and none of our vehicles.

Bobby Gray: But that may change in the near future because.

Bobby Gray: Lawyers are expensive. Um, the relationship that I have with the Texacoin miners that.

Bobby Gray: stay Texacoin miners, as you always are, will continue to be the same as it was.

Bobby Gray: But a lot of the communication is going to shift over to Iskander.

Bobby Gray: And so you know, really, everything that's going to continue for building and growth is going to continue through Iskander network.

Bobby Gray: And so consider that as you… look for answers from me to the Texacoin project. I'm still going to be here, I'm still going to do my weekly updates. I'm gonna still have lots to talk about with you guys, um, but as far as the original.

Bobby Gray: The original plan that's changed moving forward. That's Iskander.

Bobby Gray: And you know what I what I have to do to continue to keep up with my obligations to the text coin community. I will figure out and I will let you know what the answer to that question is as we as we move forward.

Bobby Gray: That's it. Gentlemen, anything else to contribute before we, uh, we call it a Tuesday night?

Bobby Gray: No, great call.

Bobby Gray: Mitchell, are you ready to do next Tuesday's call?

Bobby Gray: I am ready, excited. I will put out an update on Telegram.

Bobby Gray: Say the words, Mitchell. Say the words.

Bobby Gray: Bobby's graduated. I'm done. 2 years and 2 weeks later.

Bobby Gray: Yeah.

Bobby Gray: Bobby. Bobby, you have been graduated.

Bobby Gray: I get to, uh… I get to move on. Like I said, guys, I'm not gone. I'm always going to be here. I'm chairman of the Iskander Digital Mining Cooperative, so you can't get rid of me completely unless the board gets together and votes me out. But…

Bobby Gray: Moving forward, I'm going to continue to do what I told you we always need to do, which is promote Texacoin on the other side of the world. And we mine it in Texas, we promote it and market it in Asia. Uh, guess where I am? I'm in Asia. I'm working. I'm having a good time. I'm being very productive.

Bobby Gray: I miss my family, I miss you guys. It's not over. We'll see each other plenty as we keep moving forward. Um… But we've got a bright future, guys. We've got a path, and the path isn't a silver bullet, but it's sure close to it. We're still got challenges, we still have to do a good job, we still have to be ethical and honest and moral. You know, so much of.

Bobby Gray: why we've avoided the doors getting kicked in and people getting arrested is because of how we did what we did so far. Let's keep that as our guiding light as we move forward into our bright future. I'm Bobby Gray, I'm here with Gage and Mitchell. Guys, thanks so much for joining me. Thanks for, um.

Bobby Gray: For taking my spot at the helm. Like I said, I'm not gone. I'm still gonna be here, making sure that this thing continues to do a good job the right way. Um, but it's up to the community now. Look, you guys want this? Let's go get it. Let's bring the community together, let's decide what the right compensation plan is to move forward, uh, while I go out and continue to build out our ecosystem.

Bobby Gray: and and make friends within the crypto community for us. That's it. I'll catch you guys again on a future non Tuesday night call. Thank you, everyone, and let's go.

Bobby Gray: Bob