Bitcoin Economics and Evolution | The Saylor Series | Episode 16 (WiM062)

[Music]

we we just finished discussing the

proof-of-work mining network and the

seven layers of security energy

technology

uh politics finance the network itself

the spatial security the temporal

security

um

so what you have is you have bitcoin as

a decentralized crypto asset network and

the thing that pops up a lot is

is the question of

what does energy usage look like over

time and is energy usage is going to

keep increasing as the price of bitcoin

increases

and i've seen commentary on this i think

a lot of people get it wrong

they seem to think

that

as the price of bitcoin increases the

energy usage will increase linearly

and uh if there's a 100x

increase in bitcoin price there's a 100x

increase

in energy usage and i think it's

just worthwhile to make the observation

that over the past 10 years

the

mining network has gone from being

energy intensive to being technology

intensive

another way to say it is

is in every single industry you go from

being labor intensive to capital

when we started with a million people

sowing or farming

farming it was a labor intensive

activity

as the capital equipment gets better you

know first you have

you know horses and carts and ox carts

and then you have tractors then you have

mega tractors then you have factories

um

all of a sudden the amount of labor

matters a lot less

and the amount of capital equipment

matters a lot more

there's a time when 90 percent of the

country was farmers and now just one or

two percent of the people in the country

produce all the food

is because it's become technology

intensive

um the bitcoin network is similar in

that except

substitute for labor energy

and substitute for capital technology

and we go back 10 years

it probably took a hundred times as much

energy to develop to generate an exah

as it is right now

uh the an s19 takes 30 megawatts per

extra hash but an s9 takes 150 megawatts

an extra hash see the 5x improvement

energy efficiency over one generation of

equipment

we're like on the seventh generation of

mining equipment

if you go

back

two or three generations then you

you get that 100x improve increase in

energy intensity

if you look at where we are today and

you go forward 10 years

it's it's reasonable to expect that you

will get

improvements in efficiency from three

dynamics

you've got halvings in the protocol and

we have one every four years so that

means that over the course of a decade

you have a 5x increase in efficiency

from the havings

then if you have a 4x increase

in

energy efficiency and you get it twice

or a 5x and a 4x you get a 20x increase

over two more generations of hardware

and now you've got a 20x times a 5x or

about 100x

increase in efficiency

so

bitcoin price could go up by a hundred

and the network efficiency would go up

by a hundred

and the energy consumption could be flat

and uh and that's an important thing to

keep in mind

because

people sometimes think well energy is

used to secure the network

no it's crypto energy it's encrypted

energy that's used to secure the network

and in order to get it from raw energy

to crypto energy you have to run it

through

a shaw 256 miner that's properly

engineered in a heat sink

and so as the heat engineering improves

the miners get more efficient as the

semiconductor technology for asics

improves the miners get more efficient

and what you have in that dynamic

is uh

never-ending struggle

between brute force and technique

and kind of reminds you of something

like nature

and and competition

like

there's two ways to do things right you

either do

you know use raw labor or you use

technology

and it's important to have the dynamic

or that that yin and yang because

when the technologies technologists get

lazy

and they stop improving

then the raw material or the brute force

overwhelms and then and the control the

network shifts back to the energy

holders

but

to the extent that the technologists

upgrade their engineering facilities

their heat technology their chip

technology

then

the energy becomes less important

the technology becomes more important

and the combination of both of these

things

require capital

free-flowing capital

and

in a free market the capital is

continually seeking

the best use

should i invest money in creating the

next generation of shaw 256 miners

should i invest money in engineering a

more efficient bitcoin mine with

immersion cooling

should i invest money in

in commercializing more energy or

plugging in more energy and just

manufacturing

the same design over and over again

you know and

so what you have is this nice delicate

dance or balance of power

but a model you can think of is

when we first started bitcoin mining it

was all energy intensive we were using

off-the-shelf computer equipment

and you were throwing raw power and raw

commodity materials added

it's rotated through a set of

generations of of hashing equipment so

now

you need energy but but the limiting

factor is not really the energy the

limiting factor on generating hashes is

the mining rigs and maybe you could say

the limiting factors on doing this well

is the mining rigs properly installed in

a mining center with the right cooling

technology

and if you look forward another another

decade

you'll see it's going to be much more

technical intensive and

you could have all the energy in the

world

but you're not going to be able to

generate crypto hashes

the um

the break-even point of an s19 is like

40 cents a kilowatt hour you could pay

40 cents a kilowatt hour for electricity

and make money the break-even point for

an s9 is eight or nine cents kilowatt

hour

if you have 20 cent power you can't make

money you got to turn it off

the break-even point for the generation

of equipment before that it's like two

cents a kilowatt hour

you can't pay three you got to turn it

off and the generation before that

you're down to half a penny a kilowatt

hour

so if you're looking to run antiquated

equipment to generate hashes you have to

be stealing the power

if you have free energy and it's

literally stolen or it's given away

you can run eight-year-old or

five-year-old equipment

but if you're paying your way

you have to run modern equipment

so this is a dynamic model

but it's important because it's a

dynamic evolution of the sophistication

of the bitcoin

security network that has darwinian

overtones

because the bitcoin miner that just buys

a bunch of equipment five years ago and

stops upgrading

becomes obsolete

you know you won't last 10 years without

equipment i mean your break-even point

becomes uh a tenth of a penny

after once you're three or four

generations behind

so this is like nature healing itself

it's a very natural process

you you if you're out of touch and

you're a thousand miles away the free

market

somewhere else is going to keep moving

the state of the art forward

and should you isolate yourself you will

you will find that you can't generate

enough hash power to participate

in the revenues and the transaction fees

and it's the it's the network's way of

simply squeezing you

off the network

now what that means

is bitcoin miners are organic creatures

with a negative feedback loop i mean in

essence a market mechanism

the difficulty adjustment is not just

tactically every two weeks in the

protocol

the difficulty adjustment is in the

market

because if you don't upgrade your

hardware every four years you become

uncompetitive

and you can't upgrade your hardware

every four years

unless you were responsible custodian of

your capital if you spent all your money

if you didn't save any money

if you're not trustworthy if you don't

have credit

you can't buy any equipment and so so to

stay competitive on the bitcoin network

you have to be credit worthy you have to

be competent and you have to be um

you have to be credible someone that has

the technology

has to be willing to sell to you

and so i i would say that the dynamic

nature of the network is

you have this competition

between minor operations and the

technology providers

and the energy sources

and the political jurisdictions

and you have to be upgrading

and you and you probably need to be

improving your efficiency

by a factor of of one and a half or two

every year you know you're subject to

moore's law

and this uh competitive darwinian

pressure and

the result of that

is

energy energy consumption is going to

fall

per extra hash

will go from 150 megawatts an extra hash

to 30 megawatts an extra hash

to five megawatts in extra hash to one

megawatt in exahash

to half a megawatt you know and on down

we're just going to move move down this

efficiency curve

you can

you could imagine if i gave you uh you

know this super computer

you know the size of a sugar cube

you know it's just look look at the

amount of power on modern semiconductors

right think about what's in the latest

iphone chip

we just keep compressing computing power

and we find a way

and human ingenuity is is like that they

will keep finding a way

to

to create more hash power

using better technique

and

so that suggests that energy consumption

will probably increase non-linearly like

with the log of the price

if the price it goes up by a factor of

10

energy consumption might go up by a

factor of two or two and a half or three

at some point

you start to think you will roll over

you'll peak we might have already done

it

you peak energy consumption and then you

taper off or it holds constant as the

hash rate increases

and instead of putting instead of a

bitcoin miner spending half of their

budget on energy

you roll over to spending half of your

budget on capital right you're buying

capital and amortizing it

and pretty soon your variable cost on

energy is five percent and forty percent

is capital equipment

and what you've got

is not an energy war

to see who controls the network you've

got a technology war

to see who controls the network

and

why is that good

well because um energy is a raw material

in the universe

but

seventh generation shaw 256 miners are

specialty equipment

right everybody on earth can find some

energy and throw it at the problem but

but you know

throwing the 11th generation of shaw 256

mining equipment at the problem is

something that probably no one's going

to be able to do unless they spent a

decade or two decades engineering that

equipment and thinking about it

so you have a specialization in the same

way that john deere

tractors are specialized after 100 years

and

you know if you if you went back to a

farmer in 1850 and you describe what a

farmer in

2020 can do

right it's like night and day right

that's what's going on with the network

so

i think it's it's self-healing uh

self-sealing self-correcting and uh

the combination of the darwinian

and and adam smith capitalist

competition

is critical advantage for for bitcoin

versus say a proof-of-stake network

right

because in proof-of-stake network you

pretty much turn off energy competition

you turn off

semiconductor competition and innovation

engineering and heat engineering

innovation

you turn off capital financial

competition yeah you turn off the

political element

and that means that i can get fat dumb

and happy just right you know i can just

post

a billion worth of my tokens

and go to sleep for a decade right

and uh and no one's trying to make the

network better

so it's not being tested there's no

stressing of it

right and ultimately

the problem with that is you're going to

suffer in integrity and durability right

so we're again at this

point where it's the bitcoin mining

network itself

is a free market in and unto itself

and it reflects many of these properties

of capitalism so there's this

you know this yin and yang i guess of

efficiency and magnitude sort of going

back and forth and to your point that's

reflected in many markets historically

where we shift from labor intensity

to capital intensity and this basically

means that the capital

as it becomes more plentiful and

effective at amplifying labor you need

less labor to accomplish the same

results right this is a natural

capitalistic progression

um does this all let me ask you this so

the the

the useful life of a minor i'm not sure

what that is maybe it varies generally

it was four to five years four to five

years so we have the older generations

rolling to cheaper energy to remain in

the marketplace

newer generation steel energy right if i

if i can boot leg energy then i can rock

old generation miners profitable because

my variable cost is zero right and then

so newer generations

would then be allocated to more

expensive energy resources initially

does this then are we is this an aspect

of the

gradually increasing

fully amortized cost to produce each

bitcoin

or you actually because there's more

capex i mean maybe the capex opex mix is

changing but the overall cost to produce

each bitcoin is rising

which is putting upward pressure on its

price in the marketplace is that another

way to look at this

well you know that's not clear to me

um you know what's the price of energy

is it going up or going down um

you know maybe the price of energy is

going up and then it's going down yes

what's the price of what's the price of

semiconductors is it going up or is it

going down right well sometimes it's

going up

it's going up if there's a monopoly on

the semiconductor chips

and then it's going down when someone

else enters the market and you know

you're

in our intel chip a 386 chip is pretty

cheap now right yeah so chip so chip

prices are coming down but the next

generation is going up and but again

it's a competitive thing

there's what's the price of

semiconductors well if there's only one

provider and as a monopoly then you

could say well the price of your

semiconductors is going to go up every

generation forever and and the cost of

bitcoin money is going to go up but

there isn't one semiconductor company

there's multiple if there is one

we're back to uh jeff bezos statement

you know your margin is my opportunity

yeah

bitcoin is an open market for mining so

that so anybody can engineer a shaw 256

chip

anybody you know there's there's no one

type of bitcoin miner there are people

slapping these things in the back of

trucks and driving them around and

plugging them into bootleg power lines

right it's not very efficient

there are people that slap 500 bitcoin

miners into a container

and they just drop it on top of a pad

does it work sure it does um

is it properly heat engineered no does

it get hot very what's the consequences

of running hard

you have to turn off the mining

equipment some of the time so you lose

efficiency and they burn out and they're

useful life is not four years it's three

years

that's two years right so

so there's a competition here

and

just like there's competition for energy

how will energy go up forever no i mean

energy could go to zero right if i if i

if i invent coal fusion

yeah

you know will semiconductors go up

forever

no they'll go up until

you know at some point bit main is

you know they raised their prices

and then everybody started talking to

intel like you go to another

semiconductor company and you say well

look bitmains you know triple their

prices and now you can make this much

and now you draw somebody else into the

space

yes so so i think that there's going to

be there's a dynamic equilibrium between

the engineering and the semiconductor

and the um

and the energy

and the best capitalized companies they

can buy the new equipment you know like

the publicly traded north american

companies they will go and buy all the

new shiny equipment

and uh and poorly capitalized companies

will run the old equipment

and then and then you will roll forward

like that

so let me let me okay but

it's not clear to me how much it will

cost to create a bitcoin yes

right because i mean that's a function

of

well i mean if we look maybe the

profitability of bitcoin is a function

of the rate at which we add hash power

versus the rate at which we add bitcoin

holders

if we increase the number of bitcoin

holders by a factor of 10

and we increase the hash power by a

factor of two

[Music]

then uh the profitability and the

revenue per extra hash is going to go up

by a factor of five right yeah

and if we increase the x ash by a factor

of 10 and hold us by a factor of two

the profitability is going to

deteriorate

and uh so the profitability of the

bitcoin mining is going to have an

impact on the rate of development of

bitcoin mining semiconductor that's

right

so here's what i was saying is that

every so the total opex and capex going

into the bitcoin network out of having

you know it goes that total allocation

of expense goes

from producing call it 900 bitcoin per

day to 400. the revenue gets cut about

in half yeah so

the production cost per bitcoin has

effectively doubled

and then my thinking was that this

higher cost to produce each bitcoin is

actually incentivizing miners to hold

right they don't want to sell below cost

of production

so that's what's bootstrapping bitcoin's

price

uh upward

yeah like i mean i can see once every

four years

the the energy cost doubles

but we don't but but if if once every

four years i upgrade the equipment and

it's five times faster

right right now the question is how much

did you pay for the equipment right yes

okay

right and the answer is if you paid a

lot for the equipment and you know

amortize the cost of the equipment and

the cost of the bitcoin and you've got

an answer but that's a price that a

vendor charges you which could be triple

or half

depending upon the competition in a very

competitive market well let's say it a

different way like if you're buying

intel grade 386 46 chips and slapping

them into your home appliance what is

the price of the intelligence that you

put inside your toaster

as a percentage of the cost of the

toaster

it's pretty cheap right i mean like at

some point the cost of intelligence

starts to drop because it's a commodity

market amd drove down the prices and so

everybody can put intelligence into

their appliance

because the

competition if there was no competition

it might go the opposite way

so

i

i think that um the the protocol

guarantees us

through havings that were we're going to

have to get five times as

efficient every decade

but

the other dynamics

like the rate of technology advance go

even faster

and they're they're just as much

and uh

i i do agree with you on this one idea

we're in a gold rush right now or a

bitcoin rush call it right between now

and like 2035

um and 2035 will have mined 99 of the

bitcoin right so you've got 14 years

and during the 14 years the block

rewards are pretty high relatively

speaking

and

and so it's very lucrative to be in the

business

but

the business is going to become

less profitable

likely

at the very least we know it's going to

rotate into a transaction fee business

so instead of 90 block reward 10

transaction fee

you could expect

90 transaction fee 10 block reward

and the transaction fees are also going

to scale more likely with the log of the

price not linear to the price

if i want to move a million dollars i

might pay you 10 bucks and if i want to

move 10 million dollars i would pay 12

but i'm not going to pay a hundred

dollars i'm just going to over bid

the million dollar buyer and what i want

to if i want to move 50 million dollars

i'll bid 14

yeah so

the transaction fees will increase with

the with the number of you know

transactions on the base layer

and that'll be a dynamic but the block

rewards go away

and so if you're a bitcoin miner

it's a very uh lucrative high growth

business right now

but it will move toward an efficient

transaction security network later

and you would do well

to buy bitcoin right that's why it makes

sense to hodl bitcoin if you're a

bitcoin miner

because it's your hedge

if bitcoin it's a hedge against two

things right it's it's a hedge against

the inevitable protocol which is the

protocol says bitcoin money is going to

get

90 less lucrative over the course of

right

cut in half once cut in half twice

over the course of 12 years

you get cut in half three times

so it's a it's a hedge against that

but it's that's a long term it's also a

hedge against the near-term

hash rate explosion

if you're mining bitcoin right now and

if somebody comes out of the blue and

they bring a lot of hash rate on the

network faster than you expected

then your market share gets cut

in that situation

bitcoin may win if everybody believes

bitcoin's gonna win and there's a flood

of people to enter the mining business

you want to own bitcoin

mining is going to get competitive

bitcoin is going to get more valuable

so

you definitely don't want to be in a

situation where

where you mine bitcoin you sell all your

bitcoin for cash

and then you're you know in that case

you're attempting to run a cash business

in 16 years

when the revenue has been cut in half

four times

right

right and and

presumably if you cut 100 to 50

to 25 to 12 to six

when you're generating six percent of

the revenue and everybody else has had

12 years or 16 years to get in the game

it's going to be more of a commodity

business right now that's not to say

that a bitcoin miner can't uh can't

compete and evolve it may be a great

business then too it may it may be that

bitcoin miners have all be running

lightning nodes

or running layer two platforms of other

sorts

you know it might be that as a bitcoin

miner you have a huge bitcoin treasury

and then you can generate yield on it

it might be that there are other

applications we'll talk about some it's

very logical for bitcoin miners maybe to

get into some of these other application

areas that will pop up

in time

and there are technology possibilities

here

so

so um

i i would say the logical thing to do in

business is you

you don't worry about what happens 16 to

20 years out if you can make a ton of

money now

i mean you might very well

make enough money now to have 10 20 30

100 billion dollars of capital then at

which point

you can go buy something else to get you

in the business

and my other my other point i guess here

is yes it's true bitcoin miners should

keep bitcoin

but it's also true that non-bitcoin

miners should keep bitcoin like the like

the

if you believe in bitcoin

then the logical

the the logic follows that no matter

what business you are in if you have

operating income you should invest in

bitcoin right

and if you are able to generate

financing if you can raise debt or

equity then you should also raise debt

and invest that in bitcoin so

that would be the case for

for other companies like microstrategy

looks at it that way we're not even a

bitcoin miner

but that's you know so that's my thought

on the bitcoin mining network and the

dynamic model over time

i think that some people intentionally

misunderstand this

like people that like proof of stakers

they they intentionally misunderstand it

because if they misunderstand it then

they can assume that energy consumption

is linear and then they can you know

play the esg card and pretend that

they're you know you do their virtue

signaling and say they're doing

something good for the environment

because they're not using energy

but the truth is they're not using

energy nor are they using technology

they're not using hardware technology

engineering technology or energy nor are

they submitting their network to

competition

and they're not using external capital

political or financial what they're

doing is they're creating

a protocol

a virtual protocol

in order to in order to create security

and even there if you're going to rely

upon a virtual protocol

to create security you'd be better off

to stake the protocol with an asset

that is outside of the network

that is external to the network so for

example the lightning network

makes a lot more sense because it's

staked with bitcoin

than if it was staked with lightning

coin

right

yeah and it's paying again paying the

revenues to for services rendered which

is actually the routing transactions

versus just how much bitcoin you hold

it's not not how it works

so i think this is a key point here is

that the proof of work energy

expenditure

is actually transforming what would just

be kind of video game asset into a

macroeconomic asset there's a real

it's creating a vortex in the real world

yes yeah yeah

yeah it's it's your it's your connection

to

thermodynamic reality and

socio-political reality exactly you

can't be in denial of those two yes

what people think of you matters if the

person is the police officer on the beat

or

runs the country what they think of you

matters yes

and

what nature thinks of you matters if you

decide to step off a cliff by looking

the wrong way

nature's opinion matters right whether

or not you respect nature or not

and so it's very important that if

you're building something

that you want to last for a thousand

years

you respect politics

yeah and you respect thermodynamics and

you respect physics yes and proof of

work

is this uh it's very creative

invention to create to continually

connect

and synchronize

right the bitcoin network

with

political physical reality

yeah it's holding never never-ending

never-ending evolution every four years

every two years

a new minor a new chip a new place a new

thing

throw away the old

the you know you have to the old

generation has to die

so the new generation can form

so that the creature can evolve right

otherwise the creature stagnates

and all and becomes progressively more

fragile

right

until it's no longer capable of

competing in the real world

and that that energetic anchor to this

to these realities you know energetic

which begets socio-political reality

this is what's keeping all network

participants honest and accountable

right there's this

synchronization and rule set imposed

upon them every 10 minutes you can't

avoid it's like gravity you know you

just cannot ignore it

yeah it's quite a wonderful thing it's a

it's a crypto universe yeah

satoshi played god

created you know either call it creating

your own universe and setting the

apprentice in motion

by defining the space time constant

or the other metaphor is you release the

creature into cyberspace

you set the genetic dna

of the creature you controlled how it

will procreate

and once you release the thing

then you know it spreads as some kind of

swarm

life form

you know continually evolving

so

so i think

with with that i think we conclude that

the bitcoin mining network and the

bitcoin network in general is quite a

wonderful thing

now the next question is

how does it scale how does that if we go

beyond the network

the primary

the primary purpose of the bitcoin

mining network is to provide security

and enforce

you know protocol integrity and

durability

of the system

and it does that very well but so how do

we actually scale out to provide

hundreds of billions of transactions a

day to billions of people on the planet

at the speed of light

you know using the latest computer

technology

and

that's i think where a lot of people

fall down they don't

you know they they just want to look at

the base chain and say well it moves

seven transactions a second and so you

can't scale but but

they lack the imagination

to understand the consequences of the

layering

so the bitcoin monetary network it

scales

based upon

platforms at the layer 2 level and then

applications above that level and you

could call them layer three applications

or you could call and you can also have

applications embedded in applications on

top of applications

so you could have layers four five six

and seven and eventually you've got and

you could have interplay between the

applications

but um

for the purposes of our discussion let's

just call them layer 2 platforms and

layer 3 applications in order to keep

from getting too confusing in our

semantics

so what i want what's the most important

one well lightning is a very interesting

and maybe the most important

layer two platform

and the idea behind lightning is

i want something to be exponentially

faster and exponentially cheaper and in

return

i'm willing to secure

exponentially less

um

money

so

if i have only a hundred dollars at risk

then there's no reason why i couldn't do

10 million transactions on that channel

and uh and that totally makes sense

because as you scale out if you look at

the transactions that eight billion

people need to make on this planet every

single day

you know

the majority of the transactions are

actually

a value less than one dollar

in fact there are plenty of transactions

that could be valued in pennies

and then the big transactions might be

might be ten a hundred dollars or a

thousand dollars and

if you i probably if you were to look at

the transaction stream on the visa

network

or the mastercard network

right i mean the average check is like

28 bucks or something but there's

billions and billions and billions of

them they go on

so

that you don't really need the final

settlement security of bitcoin

because that's

the highest level security in the world

and you're getting that to move a

billion dollars

know you probably only need to to move a

billion dollars around

you know occasionally it's like if i

moved

seven nuclear-powered aircraft carriers

per second

anywhere in the universe i could

probably win whatever war i wanted to

win

right

if that's my if that's what i'm using my

teleportation power for so bitcoin is

good for teleporting large chunks of

value but for

for all of the routine work you want

something smaller and so the logical

thing to do is

the way lightning gets at it is you're

putting liquidity in a channel you're

putting value in a channel and the

channel is at risk but the overall

blockchain is and

and of course the beauty is you get to

keep your keys

and keep custody of that so that's a

very fascinating thing

um

you can build

the universe on lightning so and so

presumably

you could give eight million eight

billion people lightning wallet or

wallets more than one you could build

lightning into

paypal and square cash and apple pay and

google pay and

facebook

and every messaging app

and

you could use it

at all scale

not just to move money but to move

anything

the other day i did a thousand satoshi

transaction on lightning for one satoshi

in one second

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so lightning is a is an an obvious um

layer two

and um and the simple

the

the simple design

idea is

i create a channel with a million times

less bitcoin in it and i move it a

million times faster

yeah

and that works fine

i mean and there are other approaches of

course but um

if we give up um

you can give up uh all of the proof of

work because you don't have as much at

stake

and um

and your state you're creating a staked

network but you're staking it with an

external asset

that derives its value

from

external assets external to it

energy capital and political capital and

technical capital are flowing into

bitcoin capital on bitcoin capitals and

flowing into the lightning network in

order to secure it

so

once you get that idea

you realize that

a layer one layer two solution is a lot

better idea than a higher performance

layer one solution

because making the layer one twice as

fast or three times as fast or ten times

as fast or a hundred times fast it

doesn't get due to a million times as

fast

and uh what what you're doing is

it's no different than the common sense

way that human beings solve every

problem

if you had

a million dollars in the bank and you

were going out on a saturday night and

you needed to spend money quickly

you would take a hundred dollars in cash

and you would break it into 25 bills you

put it in your wallet

and you would rest assured that you

can't lose more than a hundred dollars

and you would leave the rest of the

money locked up in the bank

and the money in the bank takes 48 hours

to get at

and takes lots of degrees of

authentication

is behind

three feet of steel

and the money in your wallet

you know is in your front pocket

and it takes one second to get at

and you know occasionally you drop a

five dollar bill on the floor when

you're drunk

and the life goes on

[Music]

and if somebody said you had to take the

entire million dollars with you out to a

nightclub every saturday night

you would say that's pretty stupid

and they said well you know the bank

vault doors are too heavy we're just

going to have to re-engineer them to