1
00:00:14,440 --> 00:00:17,239
Speaker 1: Hey, everyone, welcome to another episode of the Market Disruptor Show,

2
00:00:17,239 --> 00:00:19,320
Speaker 1: and today I am joined by my good friend Corey

3
00:00:19,320 --> 00:00:22,400
Speaker 1: Clipston for a second time back on the show. He

4
00:00:22,600 --> 00:00:26,319
Speaker 1: is the founder and CEO of swan bitcoin company that

5
00:00:26,400 --> 00:00:28,200
Speaker 1: I talked about quite a bit. They're doing amazing things

6
00:00:28,200 --> 00:00:30,600
Speaker 1: in the space. But he's also very very educated, and

7
00:00:30,640 --> 00:00:32,840
Speaker 1: so there's some hot topics that I want to dig

8
00:00:32,880 --> 00:00:35,480
Speaker 1: in and I'm excited. So Corey, thanks for joining me today.

9
00:00:35,720 --> 00:00:37,320
Speaker 1: That's great to be here. I know we've got a

10
00:00:37,360 --> 00:00:40,519
Speaker 1: good hit list here to run through and I'm excited

11
00:00:40,560 --> 00:00:45,520
Speaker 1: to dig again. Yeah. So, um Man, the bitcoin space

12
00:00:45,600 --> 00:00:50,080
Speaker 1: has been very turbulent and volatile lately. Anyone who's been

13
00:00:50,080 --> 00:00:52,559
Speaker 1: around bitcoin for any period of time knows that it's big.

14
00:00:52,920 --> 00:00:56,760
Speaker 1: You know, it's very volatile and turbulent. UM in bowl

15
00:00:56,840 --> 00:00:58,840
Speaker 1: markets like we like we're kind of in right now.

16
00:00:59,280 --> 00:01:03,640
Speaker 1: Um seeing drops aren't really abnormal. We're kind of at

17
00:01:03,640 --> 00:01:06,240
Speaker 1: like a fifty drop. We're kind of recovering from that now.

18
00:01:06,760 --> 00:01:10,640
Speaker 1: But it really seems to be driven by um news

19
00:01:10,720 --> 00:01:13,000
Speaker 1: as we might call it fud as opposed to like

20
00:01:13,120 --> 00:01:15,919
Speaker 1: more like fundamentals. What are you what are you seeing

21
00:01:16,000 --> 00:01:19,400
Speaker 1: or thinking about? In regards to that, Yeah, I actually

22
00:01:19,400 --> 00:01:22,600
Speaker 1: think the uh, basically what happens is when something gets

23
00:01:22,680 --> 00:01:26,000
Speaker 1: kind of overbought and there's too much leverage to the upside,

24
00:01:26,640 --> 00:01:30,480
Speaker 1: pretty much anything can kind of start that cascade down

25
00:01:30,520 --> 00:01:32,119
Speaker 1: and kind of wash the leverage out of the system.

26
00:01:32,440 --> 00:01:35,920
Speaker 1: So it actually doesn't matter whether it's you know, China mining,

27
00:01:35,959 --> 00:01:40,640
Speaker 1: fud or elon tweets or whatever. Almost anything will sort

28
00:01:40,680 --> 00:01:44,680
Speaker 1: of derail a rally that has gotten a bit overextended

29
00:01:44,720 --> 00:01:48,080
Speaker 1: with too much leverage and too much polishness. Hey guys,

30
00:01:48,160 --> 00:01:50,440
Speaker 1: let me just interrupt this interview real quick, just to

31
00:01:50,440 --> 00:01:53,720
Speaker 1: plug the show sponsor, and that is block Fi. Now.

32
00:01:53,760 --> 00:01:57,559
Speaker 1: Block five is doing amazing things in the bitcoin finance space.

33
00:01:57,680 --> 00:01:59,440
Speaker 1: As a matter of fact, they've cracked some really big

34
00:01:59,480 --> 00:02:02,280
Speaker 1: news by in on the x c f TC UM

35
00:02:02,400 --> 00:02:05,280
Speaker 1: chair Chris gian Carlo Um, and they are one of

36
00:02:05,320 --> 00:02:09,320
Speaker 1: the most transparent, most heavily regulated UM companies inside the

37
00:02:09,400 --> 00:02:11,880
Speaker 1: United States, which gives me a lot of trust into

38
00:02:11,919 --> 00:02:14,080
Speaker 1: what their services are. Now, I've recently did a video

39
00:02:14,160 --> 00:02:17,560
Speaker 1: talking about how to retire off bitcoin, and you can

40
00:02:17,600 --> 00:02:21,000
Speaker 1: do that by leveraging debt and interest against bitcoin. And

41
00:02:21,120 --> 00:02:24,480
Speaker 1: block five is the number one company in the United

42
00:02:24,480 --> 00:02:26,560
Speaker 1: States or maybe in the world to go to and

43
00:02:26,680 --> 00:02:29,560
Speaker 1: use UM. They are leading the charges, are paying interest

44
00:02:29,639 --> 00:02:31,240
Speaker 1: on your bitcoin if you park it with them, or

45
00:02:31,360 --> 00:02:33,519
Speaker 1: you can borrow against it. Now, as I broke down

46
00:02:33,520 --> 00:02:36,080
Speaker 1: in that video, you can borrow against your bitcoin, and

47
00:02:36,120 --> 00:02:39,000
Speaker 1: when you take debt against it, it's not taxable. It's

48
00:02:39,000 --> 00:02:40,799
Speaker 1: not a taxable event. You can use that debt for

49
00:02:40,840 --> 00:02:42,919
Speaker 1: anything that you want, including to live off of, to

50
00:02:43,080 --> 00:02:45,640
Speaker 1: leverage up and buy more, or roll it into another asset.

51
00:02:46,000 --> 00:02:48,040
Speaker 1: UM you can do something like I've done recently, like

52
00:02:48,080 --> 00:02:51,079
Speaker 1: sell some real estate put that money into bitcoin. Now

53
00:02:51,120 --> 00:02:53,480
Speaker 1: as that bitcoin price has risen, I'm able to borrow

54
00:02:53,480 --> 00:02:55,520
Speaker 1: against it and go back and buy the same real

55
00:02:55,639 --> 00:02:58,240
Speaker 1: estate or something similar, and I still own the bitcoin,

56
00:02:58,480 --> 00:03:01,440
Speaker 1: and I also own the new asset as well. Lots

57
00:03:01,440 --> 00:03:03,640
Speaker 1: of ways you can do this UM and Block five

58
00:03:03,760 --> 00:03:06,519
Speaker 1: is the company that I recommend. Down in the description,

59
00:03:06,560 --> 00:03:08,160
Speaker 1: I have a link that you can click on. If

60
00:03:08,200 --> 00:03:09,560
Speaker 1: you choose to use that link, you can earn up

61
00:03:09,560 --> 00:03:12,440
Speaker 1: the two fifty dollars in bitcoin just for using that link.

62
00:03:12,560 --> 00:03:14,720
Speaker 1: So check out blockfine. Now for where we are in

63
00:03:14,720 --> 00:03:18,040
Speaker 1: the cycle, so you know, I see it as healthy. Well,

64
00:03:18,080 --> 00:03:20,240
Speaker 1: we went to like sixty five, back to thirty three,

65
00:03:20,320 --> 00:03:23,639
Speaker 1: back up to forty. Like this feels fine. It feels

66
00:03:23,720 --> 00:03:26,280
Speaker 1: very much like the pull backs that we had in

67
00:03:26,400 --> 00:03:30,320
Speaker 1: shape and size and duration. And you know, I'm I'm

68
00:03:30,320 --> 00:03:33,200
Speaker 1: not worried. And again it doesn't matter. Just zoom out

69
00:03:33,440 --> 00:03:35,880
Speaker 1: at the end of the day. Like any sat you

70
00:03:36,080 --> 00:03:40,480
Speaker 1: stack with bitcoin under a million dollars before is cheap.

71
00:03:40,560 --> 00:03:43,960
Speaker 1: So yeah, you know, we just recommend just just keep

72
00:03:44,000 --> 00:03:46,480
Speaker 1: buying with some spare change according to your plan whenever

73
00:03:46,520 --> 00:03:49,000
Speaker 1: you can. And uh, and and just keep on accumulating

74
00:03:49,000 --> 00:03:51,960
Speaker 1: and never sell. Yeah. Well, let's dig into a couple

75
00:03:52,000 --> 00:03:54,440
Speaker 1: of the big pieces that, um we're there, and and

76
00:03:54,560 --> 00:03:56,440
Speaker 1: really they were kind of one and the same, right,

77
00:03:56,480 --> 00:03:59,000
Speaker 1: so you kind of briefly mentioned those. So the China

78
00:03:59,080 --> 00:04:02,840
Speaker 1: Fund fear, uncertainty and doubt. Um, so the fun about

79
00:04:03,800 --> 00:04:07,640
Speaker 1: the mining and and uh, it's a pretty pretty ironic

80
00:04:07,720 --> 00:04:09,720
Speaker 1: for big for China to say that they want to

81
00:04:09,720 --> 00:04:14,520
Speaker 1: stop mining on dirty energy, especially when they're just announced

82
00:04:14,600 --> 00:04:16,680
Speaker 1: last year or last year they just brought on three

83
00:04:16,720 --> 00:04:19,640
Speaker 1: times the amount of coal power plants is anywhere the

84
00:04:19,680 --> 00:04:22,080
Speaker 1: rest of the world. Um. But at the same time,

85
00:04:22,120 --> 00:04:24,640
Speaker 1: I think what probably really kicked that into gear was

86
00:04:24,680 --> 00:04:28,560
Speaker 1: Elon Musk, who had really come out, um seemingly in

87
00:04:28,640 --> 00:04:30,520
Speaker 1: favor of bitcoin, and then all of a sudden kind

88
00:04:30,560 --> 00:04:33,919
Speaker 1: of retract his statement like, oh, bitcoin isn't mined in

89
00:04:33,960 --> 00:04:36,720
Speaker 1: an efficient manner. It seemed like it was like that

90
00:04:36,839 --> 00:04:39,880
Speaker 1: one to punch. Did you see that? Yeah, of course

91
00:04:39,880 --> 00:04:41,919
Speaker 1: I was following it as we went along, and it

92
00:04:42,000 --> 00:04:44,839
Speaker 1: seemed to contradict his earlier tweets. So the press release

93
00:04:44,880 --> 00:04:47,440
Speaker 1: put out by Tesla that he posted an image of

94
00:04:48,080 --> 00:04:52,080
Speaker 1: was obviously in direct contradiction to his personal tweeting back

95
00:04:52,120 --> 00:04:54,880
Speaker 1: in January and February. So I'm not really sure what

96
00:04:54,960 --> 00:04:57,200
Speaker 1: the machinations were behind the scene, but he has a board,

97
00:04:57,240 --> 00:04:59,719
Speaker 1: and you know, they're very dependent with their business model

98
00:04:59,800 --> 00:05:02,320
Speaker 1: on sort of government large s and subsidies in a

99
00:05:02,320 --> 00:05:04,920
Speaker 1: bunch of different ways, and in particular, like some of

100
00:05:04,960 --> 00:05:07,760
Speaker 1: these renewable energy credits that they're sort of angling for,

101
00:05:08,560 --> 00:05:10,480
Speaker 1: and uh, you know, some of their cash flows are

102
00:05:10,520 --> 00:05:13,760
Speaker 1: sort of ending now in a big way with some

103
00:05:13,839 --> 00:05:15,719
Speaker 1: of the other companies that have been paying them over

104
00:05:15,720 --> 00:05:18,240
Speaker 1: the years now having their own electric vehicle fleets and

105
00:05:18,240 --> 00:05:21,159
Speaker 1: not having to buy these credits from Tesla anymore. Um,

106
00:05:21,200 --> 00:05:23,440
Speaker 1: so they're they're sort of at the trough right now,

107
00:05:23,480 --> 00:05:26,200
Speaker 1: trying to make sure they have their next sort of

108
00:05:27,000 --> 00:05:30,000
Speaker 1: leg up of subsidies over the next few years. And

109
00:05:30,120 --> 00:05:33,360
Speaker 1: it seems, you know, it seems just too cute that

110
00:05:33,360 --> 00:05:35,760
Speaker 1: that tweet came out, the fund tweet came out, and

111
00:05:35,800 --> 00:05:37,760
Speaker 1: literally the next day was all the news about the

112
00:05:37,960 --> 00:05:41,320
Speaker 1: uh the new arrangements with the renewable energy credits for Tesla.

113
00:05:41,480 --> 00:05:44,960
Speaker 1: So yeah, hard not to see a correlation there. Yeah,

114
00:05:45,120 --> 00:05:47,039
Speaker 1: I mean, there's just gotta be in anyone who's really

115
00:05:47,040 --> 00:05:50,240
Speaker 1: studied Elon Musk. I know people love him, um, and

116
00:05:50,360 --> 00:05:52,960
Speaker 1: you know he's he's quite a character, but um, his

117
00:05:53,040 --> 00:05:55,640
Speaker 1: career has really been built, as you called it, legress

118
00:05:55,720 --> 00:05:58,599
Speaker 1: of the government. I mean he's a grifter, right, So, um,

119
00:05:58,640 --> 00:06:01,760
Speaker 1: all the money that's come from space X and for

120
00:06:01,839 --> 00:06:04,279
Speaker 1: Tesla has really come from the benefit of the Fiat

121
00:06:04,279 --> 00:06:08,120
Speaker 1: money system. I'm gonna stop way short of of grift

122
00:06:08,279 --> 00:06:10,800
Speaker 1: because that usually is just for personal gain. And I

123
00:06:10,839 --> 00:06:15,200
Speaker 1: actually think the dude is trying to complete important missions

124
00:06:15,240 --> 00:06:17,200
Speaker 1: like I do think Tesla's are amazing vehicles and it's

125
00:06:17,279 --> 00:06:19,560
Speaker 1: kind of pulling that whole industry out of the nineteen

126
00:06:19,600 --> 00:06:22,680
Speaker 1: fifties and into a new millennium, So I I appreciate

127
00:06:23,000 --> 00:06:25,159
Speaker 1: what he and that company have done there, and I

128
00:06:25,200 --> 00:06:28,160
Speaker 1: think what they've done with the commercialization of of you know,

129
00:06:28,200 --> 00:06:31,120
Speaker 1: space travel and satellite launches and what they're doing with

130
00:06:31,160 --> 00:06:34,280
Speaker 1: Starlink with the satellite Internet, like these things are all

131
00:06:34,360 --> 00:06:37,800
Speaker 1: great and worthy. And you can quibble about the energy

132
00:06:37,839 --> 00:06:40,080
Speaker 1: mix and the resource use of this, that and the other,

133
00:06:40,600 --> 00:06:43,640
Speaker 1: and you know clearly those are intensive processes to create

134
00:06:43,760 --> 00:06:46,719
Speaker 1: those and you're not actually getting away from fossil fuels

135
00:06:46,720 --> 00:06:49,560
Speaker 1: if you're using electricity unless the source of the electricity

136
00:06:49,640 --> 00:06:52,880
Speaker 1: is clean too, So it's kind of marketing. So yes,

137
00:06:52,960 --> 00:06:56,440
Speaker 1: all of that is true. But you can also I

138
00:06:56,560 --> 00:06:59,440
Speaker 1: like to be honest because then I have credibility and

139
00:06:59,600 --> 00:07:03,760
Speaker 1: full and integrity when I, uh, you know, attack somebody

140
00:07:03,800 --> 00:07:06,120
Speaker 1: for doing something that's bullshit. It's the same reason that

141
00:07:06,160 --> 00:07:09,000
Speaker 1: I like to, you know, explain how I love the

142
00:07:09,000 --> 00:07:11,840
Speaker 1: writing of miss him teleb. And just because he doesn't

143
00:07:11,880 --> 00:07:14,960
Speaker 1: understand Bitcoin doesn't mean that all his work in other

144
00:07:15,000 --> 00:07:18,400
Speaker 1: areas is worthless. It doesn't mean that he's a charlatan.

145
00:07:18,480 --> 00:07:22,240
Speaker 1: It's just like like Ray Dalio had had Bitcoin wrong

146
00:07:22,320 --> 00:07:26,080
Speaker 1: for years because of his social signals and his you know,

147
00:07:26,520 --> 00:07:29,600
Speaker 1: unwillingness to do his own research. Over the last year,

148
00:07:29,640 --> 00:07:31,880
Speaker 1: he's done his own research and he finally is starting

149
00:07:31,880 --> 00:07:34,600
Speaker 1: to understand bitcoin, and obviously his conclusions are very different.

150
00:07:35,080 --> 00:07:37,920
Speaker 1: What I would say to that, though, and I agree

151
00:07:37,920 --> 00:07:39,600
Speaker 1: with those statements. What I would say is, I think

152
00:07:39,640 --> 00:07:41,120
Speaker 1: it was Charlie Munger who said, right, show me the

153
00:07:41,120 --> 00:07:43,120
Speaker 1: incentives and I'll show you the outcome kind of a thing.

154
00:07:43,800 --> 00:07:48,680
Speaker 1: So when you understand what Musk's incentives were, as you said, right,

155
00:07:48,720 --> 00:07:52,480
Speaker 1: he's very incentivized on the credits, and he's losing the

156
00:07:52,480 --> 00:07:54,920
Speaker 1: credits because auto manufacturers are coming on now with their

157
00:07:54,960 --> 00:07:58,200
Speaker 1: own cars and whatnot, and so the incentive structure there

158
00:07:58,320 --> 00:08:00,520
Speaker 1: for him to then have to come out. Right, So

159
00:08:00,520 --> 00:08:03,520
Speaker 1: then we understand the incentives, then we kind of understand

160
00:08:03,560 --> 00:08:06,240
Speaker 1: the outcome, which is, um, maybe he got a tap

161
00:08:06,280 --> 00:08:09,280
Speaker 1: on his shoulder from somebody, maybe he just realized it himself.

162
00:08:10,160 --> 00:08:13,440
Speaker 1: But because he's dependent and whatever you want to call that,

163
00:08:13,560 --> 00:08:19,840
Speaker 1: but his business is pretty dependent on you know, government help. Um,

164
00:08:19,880 --> 00:08:23,600
Speaker 1: that's the incentive. And then so you see the Yeah,

165
00:08:24,040 --> 00:08:26,760
Speaker 1: these two things can both be true. Yeah, he can

166
00:08:26,800 --> 00:08:29,200
Speaker 1: want to he can believe truly that he's trying to

167
00:08:29,200 --> 00:08:31,360
Speaker 1: save the world, and that he doesn't care if he

168
00:08:31,400 --> 00:08:33,360
Speaker 1: has a few tens of millions of dollars. I think

169
00:08:33,360 --> 00:08:36,960
Speaker 1: he wants some money or a hundred billion dollars and

170
00:08:37,240 --> 00:08:40,080
Speaker 1: I truly don't think he actually cares that much. Um.

171
00:08:40,120 --> 00:08:42,440
Speaker 1: But then he also you know, he whipsaws. You can

172
00:08:42,480 --> 00:08:44,640
Speaker 1: see it in real time. Like sometimes he just seems

173
00:08:44,760 --> 00:08:48,320
Speaker 1: like super ego driven and sometimes he seems very altruistic

174
00:08:48,400 --> 00:08:51,959
Speaker 1: and you know, people can be more than one thing. Yeah,

175
00:08:52,000 --> 00:08:55,280
Speaker 1: for sure, it seems uh he has a history of

176
00:08:55,280 --> 00:08:57,000
Speaker 1: this as well. Right, so he was fined by the

177
00:08:57,080 --> 00:09:00,839
Speaker 1: SEC twenty million dollars. I believe for um manipulating that

178
00:09:01,280 --> 00:09:03,760
Speaker 1: they said he was minigal. Was that when he said

179
00:09:04,240 --> 00:09:09,360
Speaker 1: I'm thinking about taking Tesla private at FO Yeah, So,

180
00:09:09,480 --> 00:09:11,160
Speaker 1: like you know, he has a history of doing this

181
00:09:11,200 --> 00:09:14,800
Speaker 1: with his own stock obviously, Dodge, dose coin and bitcoin.

182
00:09:15,360 --> 00:09:17,319
Speaker 1: So um, it's hard to be hard to believe that

183
00:09:17,360 --> 00:09:19,320
Speaker 1: the whole market could move off of what he says.

184
00:09:19,400 --> 00:09:21,040
Speaker 1: But I want to I want to move. I want

185
00:09:21,040 --> 00:09:26,160
Speaker 1: to move past that and a couple of things. First, Um,

186
00:09:26,240 --> 00:09:31,880
Speaker 1: the energy around bitcoin fund is is is there's so

187
00:09:31,920 --> 00:09:33,440
Speaker 1: many things that we can talk about that, but it

188
00:09:33,480 --> 00:09:35,640
Speaker 1: is a little bit ironic when you look at you know,

189
00:09:36,280 --> 00:09:40,120
Speaker 1: understanding that everything in life has tradeoffs, and so we

190
00:09:40,160 --> 00:09:43,200
Speaker 1: can choose not to use gas and oil for cars,

191
00:09:43,240 --> 00:09:46,760
Speaker 1: so we can use batteries, But then what about the

192
00:09:46,800 --> 00:09:49,840
Speaker 1: mining for the cobalt and the and the lithium and

193
00:09:49,880 --> 00:09:52,800
Speaker 1: what that's doing right? And so everything has a tradeoff

194
00:09:52,800 --> 00:09:58,520
Speaker 1: and I think I think people failed to realize that sometimes. Yeah,

195
00:09:58,520 --> 00:10:00,480
Speaker 1: I think you're right. And you know, I think this

196
00:10:00,480 --> 00:10:03,679
Speaker 1: this responsive of Michael Sailor and some of the North

197
00:10:03,720 --> 00:10:06,240
Speaker 1: American mining companies to you know, have a power out

198
00:10:06,280 --> 00:10:09,880
Speaker 1: with Elon and kind of explain things and you know that's, uh,

199
00:10:10,840 --> 00:10:15,840
Speaker 1: that's a pr move and it's debatable whether you want

200
00:10:15,880 --> 00:10:18,520
Speaker 1: to move an inch. And I hear this from a

201
00:10:18,520 --> 00:10:20,320
Speaker 1: lot of friends, and you know the kind of oil

202
00:10:20,320 --> 00:10:22,800
Speaker 1: and gas industry, and what happens when you sort of

203
00:10:22,800 --> 00:10:25,080
Speaker 1: create one of these like let's be greener type councils,

204
00:10:25,280 --> 00:10:27,880
Speaker 1: and it basically sort of starts down a slip free

205
00:10:27,880 --> 00:10:31,439
Speaker 1: slope and kind of delays progress by decades in many cases.

206
00:10:31,640 --> 00:10:34,080
Speaker 1: So it can go horribly awry when you create one

207
00:10:34,080 --> 00:10:36,760
Speaker 1: of these things. I obviously do have you know, I

208
00:10:36,760 --> 00:10:38,240
Speaker 1: got to be careful with what I say because I'm

209
00:10:38,240 --> 00:10:42,360
Speaker 1: an advisor to Riot Blockchain, which is a publicly listed

210
00:10:42,520 --> 00:10:46,640
Speaker 1: bitcoin miner. But you know, essentially my understanding of what

211
00:10:46,720 --> 00:10:48,880
Speaker 1: the goals of this thing is is really just to

212
00:10:49,200 --> 00:10:52,800
Speaker 1: encourage transparency along the lines of what Riot already does.

213
00:10:52,840 --> 00:10:56,080
Speaker 1: They already publish exactly what their energy sources, and you know, yeah,

214
00:10:56,120 --> 00:10:57,960
Speaker 1: they try to improve it over time, and they engage

215
00:10:57,960 --> 00:11:01,720
Speaker 1: with different stakeholders and respond inquiries from you know, people

216
00:11:01,720 --> 00:11:04,520
Speaker 1: who want greener energy, etcetera, and you know, just trying

217
00:11:04,559 --> 00:11:07,160
Speaker 1: to be trying to be good corporate citizens and exists

218
00:11:08,280 --> 00:11:10,599
Speaker 1: and make money while still not having a target on

219
00:11:10,640 --> 00:11:13,280
Speaker 1: their back. But you know, it's not going to be

220
00:11:13,360 --> 00:11:16,000
Speaker 1: some sort of like cabal that's at the whim of

221
00:11:16,120 --> 00:11:21,280
Speaker 1: green peace or something. It's gonna be transparency and attempts

222
00:11:21,320 --> 00:11:25,599
Speaker 1: to do the right thing, whatever that is for them.

223
00:11:25,640 --> 00:11:28,320
Speaker 1: I'm curious what you think about that. And from a

224
00:11:28,320 --> 00:11:31,880
Speaker 1: bigger standpoint though, because like now, we've seen like Kevin O'Leary,

225
00:11:31,960 --> 00:11:34,520
Speaker 1: Mr Wonderful talking about he wants to wait us to

226
00:11:34,679 --> 00:11:39,440
Speaker 1: mark certain bitcoins as being mind efficiently. We've seen Marathon,

227
00:11:39,559 --> 00:11:42,839
Speaker 1: another big you know, publicly traded company, specifically saying that

228
00:11:42,840 --> 00:11:47,000
Speaker 1: that's what they're doing. Um, do you fear that this

229
00:11:47,040 --> 00:11:50,440
Speaker 1: could lead to like two classes of coins? Not at all.

230
00:11:50,559 --> 00:11:54,079
Speaker 1: I mean honestly, like Bitcoin was built to withstand things

231
00:11:54,120 --> 00:12:00,839
Speaker 1: like this, and the code isn't affected by what miners do. Uh,

232
00:12:01,000 --> 00:12:04,880
Speaker 1: you can't mind clean blocks without sort of not participating

233
00:12:04,880 --> 00:12:06,400
Speaker 1: in the network. And you're not going to be on

234
00:12:06,440 --> 00:12:09,880
Speaker 1: bitcoin anymore. Um in that way, right, you're just gonna

235
00:12:09,880 --> 00:12:13,000
Speaker 1: lose money. UM, so you'll be less efficient. I just

236
00:12:13,240 --> 00:12:16,640
Speaker 1: you know, Mr Wonderful is just obviously like trying to

237
00:12:16,640 --> 00:12:19,960
Speaker 1: create a profit opportunity for himself and using using his

238
00:12:20,040 --> 00:12:22,800
Speaker 1: megaphone and some marketing lingo to to try to create

239
00:12:22,840 --> 00:12:25,960
Speaker 1: an opportunity. Um. What is it with people that are

240
00:12:26,000 --> 00:12:30,480
Speaker 1: on that show just turning into like ridiculous scammers. And

241
00:12:30,520 --> 00:12:33,480
Speaker 1: I'm Mark Human in this case has been one of

242
00:12:33,520 --> 00:12:36,319
Speaker 1: the worst actors that I've seen in business over the

243
00:12:36,400 --> 00:12:38,600
Speaker 1: last couple of years. It's just such a joke. Yeah,

244
00:12:38,640 --> 00:12:40,080
Speaker 1: they I mean, they all want to come in and say,

245
00:12:40,640 --> 00:12:42,520
Speaker 1: you know, I have a better way to fix it

246
00:12:42,600 --> 00:12:44,480
Speaker 1: or whatever it is. And so I think it's just

247
00:12:44,559 --> 00:12:47,400
Speaker 1: funny profit opportunity. But I guess, you know, based off

248
00:12:47,400 --> 00:12:50,480
Speaker 1: of what he's saying or what marathons trying to do UM.

249
00:12:50,520 --> 00:12:52,240
Speaker 1: I mean, they really are trying to create like a

250
00:12:52,280 --> 00:12:56,280
Speaker 1: premium coin that has has no you know, it's not

251
00:12:56,360 --> 00:12:59,839
Speaker 1: tainted as they would call it or whatever. UM it's seeing.

252
00:13:01,000 --> 00:13:02,959
Speaker 1: I made a post about this on Twitter the other day,

253
00:13:02,960 --> 00:13:04,920
Speaker 1: and I got all these mon narrow heads coming out

254
00:13:04,920 --> 00:13:07,439
Speaker 1: and attacking me and telling me, well, that's why Monaro

255
00:13:07,600 --> 00:13:10,400
Speaker 1: is so much better because it's mon arrow is truly fungible.

256
00:13:10,720 --> 00:13:17,200
Speaker 1: Bitcoin is not fungible because it carries this history with it. Hey,

257
00:13:17,240 --> 00:13:19,640
Speaker 1: sorry to interrupt this video just one more time. I'm

258
00:13:19,679 --> 00:13:22,480
Speaker 1: not running Google ads, so it's actually way less interruption

259
00:13:22,480 --> 00:13:24,400
Speaker 1: than I normally would have on a video. UM. And

260
00:13:24,440 --> 00:13:27,240
Speaker 1: that's because it's sponsored by block five. UM. They are

261
00:13:27,840 --> 00:13:31,040
Speaker 1: opening up the world of bitcoin and financial products, offering

262
00:13:31,080 --> 00:13:34,360
Speaker 1: to pay you interest on your bitcoin. UM better than

263
00:13:34,400 --> 00:13:36,240
Speaker 1: own in a rental property that you have to manage

264
00:13:36,240 --> 00:13:38,000
Speaker 1: and control and have the risks. You can just earn

265
00:13:38,040 --> 00:13:40,520
Speaker 1: interest on it or you can leverage against it. Now,

266
00:13:40,840 --> 00:13:44,000
Speaker 1: I plan to hold my bitcoin forever and literally never

267
00:13:44,320 --> 00:13:46,320
Speaker 1: sell my bitcoin. So how do you do that? Well,

268
00:13:46,559 --> 00:13:48,760
Speaker 1: if I need money, I don't want to sell that bitcoin.

269
00:13:48,800 --> 00:13:50,920
Speaker 1: I'm gonna pay tax on it all right, I'm gonna

270
00:13:50,960 --> 00:13:53,240
Speaker 1: end up with less and I don't have the bitcoin anymore.

271
00:13:53,320 --> 00:13:55,400
Speaker 1: So a better way to do it is to borrow

272
00:13:55,520 --> 00:13:58,400
Speaker 1: against the bitcoin. So I've put all my money into bitcoin.

273
00:13:58,640 --> 00:14:00,319
Speaker 1: If I want to buy a car, or I want

274
00:14:00,320 --> 00:14:02,880
Speaker 1: to buy a house, I can borrow against it at

275
00:14:03,080 --> 00:14:06,000
Speaker 1: very very low competitive rates. Get my house, get my car,

276
00:14:06,120 --> 00:14:08,920
Speaker 1: whatever that may be, and get to keep the bitcoin.

277
00:14:08,960 --> 00:14:11,440
Speaker 1: I've done a whole video on this. You can find it.

278
00:14:11,440 --> 00:14:13,400
Speaker 1: I'll link it down to the description below, how to

279
00:14:13,559 --> 00:14:15,920
Speaker 1: retire off a bitcoin without paying taxes, and you can

280
00:14:15,960 --> 00:14:18,480
Speaker 1: do that with block fight services. I'll link to the

281
00:14:18,520 --> 00:14:20,120
Speaker 1: video down below. I'm also going to put a link

282
00:14:20,160 --> 00:14:21,880
Speaker 1: to block fight. If you choose to click on that

283
00:14:21,920 --> 00:14:23,520
Speaker 1: link to check them out. You can earn up to

284
00:14:23,560 --> 00:14:26,400
Speaker 1: two dollars in free bitcoin just for using that link.

285
00:14:26,720 --> 00:14:28,280
Speaker 1: And that's it. Let's go ahead and get back to

286
00:14:28,400 --> 00:14:32,360
Speaker 1: the interview. Yeah again, I just don't think it matters, Like,

287
00:14:32,400 --> 00:14:35,280
Speaker 1: if bitcoin is built to withstand this sort of thing,

288
00:14:36,320 --> 00:14:41,280
Speaker 1: then we're fine, and I think it is. Yeah, So yeah,

289
00:14:41,360 --> 00:14:43,440
Speaker 1: I would say that A couple of things that I

290
00:14:43,480 --> 00:14:46,920
Speaker 1: was thinking about is one, um, it's a little bit

291
00:14:46,920 --> 00:14:51,080
Speaker 1: too late. There's eighteen and a half million bitcoin in circulation,

292
00:14:51,160 --> 00:14:54,240
Speaker 1: there's maybe another two or three left. Like, that's not

293
00:14:54,440 --> 00:14:56,560
Speaker 1: enough to drive even if they were to mind all

294
00:14:56,600 --> 00:14:59,120
Speaker 1: the bitcoin left, it's not enough to fracture the market,

295
00:15:00,040 --> 00:15:04,680
Speaker 1: um right, And it is it is. It is fungible

296
00:15:04,680 --> 00:15:06,800
Speaker 1: in the sense that once it gets combined and spent

297
00:15:07,000 --> 00:15:10,320
Speaker 1: and you know, combined with other bitcoins from other sources,

298
00:15:10,440 --> 00:15:13,120
Speaker 1: and then it goes through eight hops, nine hops, ten hops, Like,

299
00:15:13,200 --> 00:15:15,200
Speaker 1: no amount of chain analysis is ever going to be

300
00:15:15,240 --> 00:15:18,680
Speaker 1: able to track like where this stuff comes comes from

301
00:15:18,720 --> 00:15:22,840
Speaker 1: without also flagging every other transaction on the network. So

302
00:15:22,920 --> 00:15:25,640
Speaker 1: it's just a nonstarter. I mean, all of this marketing

303
00:15:25,720 --> 00:15:27,840
Speaker 1: language that Mara has been putting out, and you know,

304
00:15:27,880 --> 00:15:29,800
Speaker 1: it's the same kind of stuff that ch Analysis tries

305
00:15:29,840 --> 00:15:36,000
Speaker 1: to sell the company's you know, it's it's lingo that

306
00:15:36,200 --> 00:15:39,240
Speaker 1: isn't even going to be relevant in the future. Most

307
00:15:39,240 --> 00:15:41,280
Speaker 1: of the most transactions are going to happen over lightning

308
00:15:41,280 --> 00:15:44,280
Speaker 1: in the future anyway, it's completely irrelevant what is marked

309
00:15:44,280 --> 00:15:47,080
Speaker 1: on chain. And that's such a great point, and that's

310
00:15:47,120 --> 00:15:48,440
Speaker 1: the kind of point that I was thinking about with

311
00:15:48,440 --> 00:15:51,960
Speaker 1: the Monaro people, is that you know, most of these

312
00:15:51,960 --> 00:15:53,880
Speaker 1: transactions be forward, won't be done on the main chain

313
00:15:53,920 --> 00:15:57,640
Speaker 1: will be done through lightning net um. And the other

314
00:15:57,680 --> 00:16:00,480
Speaker 1: thing I was thinking is that you could also obvious

315
00:16:00,480 --> 00:16:05,680
Speaker 1: skate Bitcoin's history using other other means as well, coin joins, etcetera. UM,

316
00:16:05,720 --> 00:16:08,120
Speaker 1: and so you could just obviouscate the history that way.

317
00:16:08,480 --> 00:16:12,880
Speaker 1: And then they said, well, merchants won't accept coin bitcoin

318
00:16:13,040 --> 00:16:15,280
Speaker 1: without the history, and it's like, well, then why would

319
00:16:15,280 --> 00:16:17,760
Speaker 1: they accept mon arrow Like right, it's like kind of

320
00:16:17,760 --> 00:16:25,040
Speaker 1: the same thing, it is. Yeah, yeah, you're right. Yeah,

321
00:16:25,080 --> 00:16:27,880
Speaker 1: So I think, uh, you know, I hope you're right.

322
00:16:27,920 --> 00:16:29,800
Speaker 1: I tend to agree with you. I think it's a

323
00:16:29,840 --> 00:16:31,440
Speaker 1: little bit too late. I don't think they're gonna be

324
00:16:31,440 --> 00:16:34,240
Speaker 1: able to change the direction of of bitcoin. It kind

325
00:16:34,240 --> 00:16:37,400
Speaker 1: of does remind me back to the block size wars

326
00:16:37,440 --> 00:16:41,200
Speaker 1: that we saw, you know, leading up to UM, where

327
00:16:41,200 --> 00:16:43,000
Speaker 1: we found out that the miners don't really have that

328
00:16:43,120 --> 00:16:46,040
Speaker 1: much power over the network, and uh, we'll probably have

329
00:16:46,080 --> 00:16:49,160
Speaker 1: to kind of revisit that maybe. Yeah, I mean, what's

330
00:16:49,200 --> 00:16:51,800
Speaker 1: what's funny is, you know, the block size wars were

331
00:16:51,960 --> 00:16:55,520
Speaker 1: much bigger existential threat. I don't think it actually got

332
00:16:55,520 --> 00:16:57,480
Speaker 1: to that point obviously, but it was a much bigger

333
00:16:57,520 --> 00:17:01,400
Speaker 1: threat to bitcoin than this is this is recycled. This

334
00:17:01,440 --> 00:17:09,040
Speaker 1: has been around in you know, energy foot around bitcoin

335
00:17:09,160 --> 00:17:13,360
Speaker 1: and basically just not understanding that energy usage doesn't scale

336
00:17:13,400 --> 00:17:18,080
Speaker 1: proportionally with transaction volume like number of transactions, and definitely

337
00:17:18,119 --> 00:17:23,000
Speaker 1: not with the amount of value being moved by those transactions.

338
00:17:23,680 --> 00:17:28,000
Speaker 1: It's such a simple and silly error that people seem

339
00:17:28,080 --> 00:17:31,800
Speaker 1: to understand in other domains that you know, it doesn't

340
00:17:31,880 --> 00:17:34,920
Speaker 1: cost a thousand times more to run the internet because

341
00:17:34,920 --> 00:17:37,840
Speaker 1: the Internet is carrying a thousand times more information. That's stupid.

342
00:17:38,160 --> 00:17:41,520
Speaker 1: The cost of everything that's used to create and run

343
00:17:42,040 --> 00:17:45,160
Speaker 1: the Internet goes down over time and things get more efficient.

344
00:17:45,640 --> 00:17:48,160
Speaker 1: It's the same thing with bitcoin. And also you can

345
00:17:48,240 --> 00:17:51,120
Speaker 1: send a billion dollars of bitcoin for the same amount

346
00:17:51,480 --> 00:17:56,480
Speaker 1: of power as sending a dollar, you know. So it's

347
00:17:56,520 --> 00:18:00,000
Speaker 1: just a fundamental misunderstanding. Only simple people that haven't done

348
00:18:00,040 --> 00:18:03,439
Speaker 1: their research even promote this sort of stuff, and the

349
00:18:03,440 --> 00:18:06,040
Speaker 1: truth will win out. And again this was like a

350
00:18:06,160 --> 00:18:09,120
Speaker 1: number four and number five concern. What gives me optimism

351
00:18:09,119 --> 00:18:14,280
Speaker 1: about bitcoin is that the worst of the fund is

352
00:18:14,320 --> 00:18:16,600
Speaker 1: something that's been around for like eight nine years and

353
00:18:16,760 --> 00:18:19,199
Speaker 1: is just being trotted out again by people with no

354
00:18:19,280 --> 00:18:23,280
Speaker 1: credibility or who haven't done their research or have the

355
00:18:23,320 --> 00:18:26,320
Speaker 1: strict incentive because they work at you know, the Bank

356
00:18:26,359 --> 00:18:28,480
Speaker 1: of Netherlands or something like that, and they're part of

357
00:18:28,520 --> 00:18:31,320
Speaker 1: creatures of the yacht system and you know, arguing against

358
00:18:31,359 --> 00:18:34,200
Speaker 1: it for those reasons or for ideological reasons or something.

359
00:18:35,080 --> 00:18:36,960
Speaker 1: All right, well, that's good to know. I want to

360
00:18:36,960 --> 00:18:39,480
Speaker 1: switch gears a little bit now. And UM, I like

361
00:18:39,560 --> 00:18:42,440
Speaker 1: to say that I believe that UM. You know, real

362
00:18:42,560 --> 00:18:46,480
Speaker 1: investors always are looking for asymmetric opportunities, right, more upside

363
00:18:46,480 --> 00:18:49,560
Speaker 1: than downside. UM. And I say that the way to

364
00:18:49,640 --> 00:18:53,439
Speaker 1: get those asymmetric opportunities is by asymmetric information. You have

365
00:18:53,480 --> 00:18:55,480
Speaker 1: to know something that most people don't have. So that's

366
00:18:55,480 --> 00:18:57,960
Speaker 1: what I'm open to get from you now, Corey, because UM,

367
00:18:58,000 --> 00:19:01,040
Speaker 1: you have insight into some order books and the movement

368
00:19:01,080 --> 00:19:02,880
Speaker 1: of big players and things like that. So I want

369
00:19:02,880 --> 00:19:06,280
Speaker 1: to dig into what's actually kind of not just the news,

370
00:19:06,320 --> 00:19:09,359
Speaker 1: but what's really going on, UM, before we get the

371
00:19:09,400 --> 00:19:11,600
Speaker 1: super secret information that I'm gonna make you share with

372
00:19:11,680 --> 00:19:14,600
Speaker 1: us here in a second. UM, we did see that

373
00:19:14,720 --> 00:19:19,280
Speaker 1: maybe maybe the most successful well known investors in the world,

374
00:19:19,400 --> 00:19:23,000
Speaker 1: definitely the largest hedge fund in the world, Radalio UM,

375
00:19:23,080 --> 00:19:27,080
Speaker 1: who has been against bitcoin, started to think about bitcoin,

376
00:19:27,280 --> 00:19:29,720
Speaker 1: started to talk about bitcoin, and now has come out

377
00:19:29,760 --> 00:19:36,280
Speaker 1: and said that he is a bitcoin holdler. Yeah yeah, yeah, yeah,

378
00:19:36,400 --> 00:19:40,680
Speaker 1: so I mean, I mean, in retrospect, it was inevitable,

379
00:19:40,880 --> 00:19:44,359
Speaker 1: as we often say. Uh And and what's inevitable is

380
00:19:44,400 --> 00:19:48,480
Speaker 1: if you actually go in with an open mind and

381
00:19:48,480 --> 00:19:51,560
Speaker 1: and don't have so much ego in the position that

382
00:19:51,640 --> 00:19:54,840
Speaker 1: you've previously taken that you're unable to change your mind publicly.

383
00:19:55,400 --> 00:19:58,720
Speaker 1: Then by definition, once you understand bitcoin, if you're honest

384
00:19:59,480 --> 00:20:03,520
Speaker 1: and don't have some sort of like massive financial incentive

385
00:20:03,560 --> 00:20:08,280
Speaker 1: to lie, then you'll end up with his position, the

386
00:20:08,320 --> 00:20:12,199
Speaker 1: one he's growing into. Um to level come around in

387
00:20:12,280 --> 00:20:16,560
Speaker 1: the end as well, unless his ego gets in the way. Yeah,

388
00:20:16,800 --> 00:20:18,800
Speaker 1: you know, they all will. If Munger lived to a

389
00:20:18,840 --> 00:20:21,159
Speaker 1: hundred and fifty, eventually he'd become a bitcoiner. He may

390
00:20:21,200 --> 00:20:24,200
Speaker 1: not make it, he may expire before he understands bitcoin,

391
00:20:24,440 --> 00:20:28,560
Speaker 1: but you know, it's inevitable that anyone who's honest and

392
00:20:28,600 --> 00:20:30,760
Speaker 1: actually puts in the work will actually understand what's going

393
00:20:30,800 --> 00:20:33,800
Speaker 1: on here. Yeah. I did a video that just went

394
00:20:33,880 --> 00:20:36,439
Speaker 1: live yesterday. Well at the time we're recording this anyway,

395
00:20:36,760 --> 00:20:38,719
Speaker 1: um and I was talking about kind of this this

396
00:20:38,800 --> 00:20:40,520
Speaker 1: fud and kind of breaking the lit it down. And

397
00:20:40,560 --> 00:20:42,920
Speaker 1: I was talking about Charlie or I'm sorry, Warren Buffett

398
00:20:43,240 --> 00:20:48,280
Speaker 1: and how he came out big time against Amazon seeing

399
00:20:48,320 --> 00:20:50,440
Speaker 1: it was a joke, it was a dream, it would

400
00:20:50,440 --> 00:20:53,280
Speaker 1: never work, blah blah blah blah blah for years and

401
00:20:53,320 --> 00:20:54,720
Speaker 1: years and years and years and years and years for

402
00:20:54,760 --> 00:20:58,199
Speaker 1: a decade. Finally he takes an eight hundred million dollar position.

403
00:20:59,040 --> 00:21:01,639
Speaker 1: So I think that kind of gives you an IDM.

404
00:21:01,680 --> 00:21:04,320
Speaker 1: And Warren Buffett finally came around. He missed the opportunity

405
00:21:04,320 --> 00:21:05,639
Speaker 1: because he kept saying it was a joke, it was

406
00:21:05,640 --> 00:21:07,480
Speaker 1: a dream, would never work. He had a chance to

407
00:21:07,480 --> 00:21:09,359
Speaker 1: buy it at a dollar or five dollars or ten dollars,

408
00:21:09,400 --> 00:21:11,359
Speaker 1: but instead he bought it in in a thousand dollars, a

409
00:21:11,480 --> 00:21:13,560
Speaker 1: hundred million dollars worth. And I think we'll probably see

410
00:21:13,600 --> 00:21:15,600
Speaker 1: the same thing. But I think it was big for

411
00:21:15,680 --> 00:21:20,080
Speaker 1: Dahio to come around. Um, his cf CFO from Bridgewater

412
00:21:20,240 --> 00:21:23,000
Speaker 1: left to go join a bitcoin company. Maybe that was

413
00:21:23,000 --> 00:21:24,800
Speaker 1: something to pushed him over the edge. But one thing

414
00:21:24,840 --> 00:21:27,879
Speaker 1: that he said that I thought was pretty powerful, pretty

415
00:21:27,880 --> 00:21:30,560
Speaker 1: important that maybe people missed out on, is that I

416
00:21:30,600 --> 00:21:33,920
Speaker 1: mean he basically said he would rather own bitcoin than bonds.

417
00:21:35,480 --> 00:21:39,439
Speaker 1: And this is like the bond king guy, you know,

418
00:21:39,480 --> 00:21:42,240
Speaker 1: his entire career has basically been surfing on a forty

419
00:21:42,280 --> 00:21:48,160
Speaker 1: year bond market bull run and he knows that's over. Yeah,

420
00:21:48,920 --> 00:21:51,320
Speaker 1: he's come out last couple of years, he's been saying

421
00:21:51,320 --> 00:21:54,119
Speaker 1: cash is trash. Um. There was an article that he

422
00:21:54,160 --> 00:21:56,119
Speaker 1: wrote a few months ago where I think he said

423
00:21:56,400 --> 00:22:00,320
Speaker 1: cash is such trash that I would probably borrow against

424
00:22:00,400 --> 00:22:03,479
Speaker 1: cash and go buy more assets. And now he's come

425
00:22:03,480 --> 00:22:05,960
Speaker 1: out against the bond market and said he'd rather hold bitcoin.

426
00:22:06,840 --> 00:22:10,760
Speaker 1: So I think that's a massive catalyst. Um. I don't

427
00:22:10,760 --> 00:22:14,960
Speaker 1: know if you guys have talked with with Greg fosse Um,

428
00:22:14,960 --> 00:22:19,359
Speaker 1: so you know he's a big career bond trader, and uh,

429
00:22:19,480 --> 00:22:22,439
Speaker 1: he broke down the math of just like how big

430
00:22:22,480 --> 00:22:26,439
Speaker 1: the bond market is and how even just a small

431
00:22:26,480 --> 00:22:30,000
Speaker 1: piece of that coming over into bitcoin would just be monumental. Yeah,

432
00:22:30,080 --> 00:22:33,440
Speaker 1: that's right. Yeah, it's it's absolutely true. And I think

433
00:22:33,480 --> 00:22:35,919
Speaker 1: it's really a great point of attack for those of

434
00:22:36,040 --> 00:22:39,000
Speaker 1: us trying to increase bitcoin adoption, both number of people

435
00:22:39,240 --> 00:22:42,879
Speaker 1: and monetarily, is to really attack the bond part of

436
00:22:42,920 --> 00:22:49,400
Speaker 1: people's portfolios. Yeah so um yeah, so man, it's like

437
00:22:49,520 --> 00:22:52,760
Speaker 1: the noise is temporary distraction. I like to say that

438
00:22:53,040 --> 00:22:58,320
Speaker 1: um volatility is the difference of perception and reality. So

439
00:22:58,440 --> 00:23:01,320
Speaker 1: the reality is that bitcoin is the network is growing,

440
00:23:02,080 --> 00:23:04,239
Speaker 1: the development is growing. The reality as we have an

441
00:23:04,280 --> 00:23:07,879
Speaker 1: upward trajection, but the perception gets a little over ahead

442
00:23:07,880 --> 00:23:10,000
Speaker 1: of it and then it snaps back below and it

443
00:23:10,080 --> 00:23:12,600
Speaker 1: kind of awesomely it's back and forth over reality. And

444
00:23:12,640 --> 00:23:16,600
Speaker 1: I think these opportunities, these these bitcoin fud that this

445
00:23:16,760 --> 00:23:20,280
Speaker 1: news are opportunities where it brings reality below I'm sorry,

446
00:23:20,400 --> 00:23:24,600
Speaker 1: perception below reality. And that's our opportunity. So maybe you

447
00:23:24,600 --> 00:23:26,520
Speaker 1: can kind of share with us what you're seeing. I know,

448
00:23:26,600 --> 00:23:29,639
Speaker 1: SWAN work some high net worth clients and whatnot. We

449
00:23:29,680 --> 00:23:31,760
Speaker 1: do I mean across the board, right, you can start

450
00:23:31,840 --> 00:23:33,960
Speaker 1: with as little as ten dollars a month, but you

451
00:23:34,000 --> 00:23:36,280
Speaker 1: can also buy you know, tens of millions of dollars

452
00:23:36,320 --> 00:23:38,320
Speaker 1: through us, And we have customers at both ends and

453
00:23:38,359 --> 00:23:41,879
Speaker 1: everywhere in between. And I think what's nice about the

454
00:23:41,920 --> 00:23:44,439
Speaker 1: signal that you can get from what's been going on

455
00:23:44,520 --> 00:23:47,360
Speaker 1: with Swan in the last month in this this dip

456
00:23:47,480 --> 00:23:52,159
Speaker 1: let's call it, uh, Most of our customers understand bitcoin

457
00:23:52,240 --> 00:23:55,399
Speaker 1: pretty well. Otherwise they wouldn't have been pointed towards us

458
00:23:55,400 --> 00:23:57,680
Speaker 1: in the first place, because you're kind of finding Swan

459
00:23:57,760 --> 00:23:59,560
Speaker 1: as you start to go down the rabbit hole and

460
00:23:59,640 --> 00:24:02,040
Speaker 1: you find out where the signal is and all of

461
00:24:02,080 --> 00:24:04,239
Speaker 1: the noise, you know, you're not going to find out

462
00:24:04,280 --> 00:24:07,840
Speaker 1: about Swan on some you know, random crypto crypto t

463
00:24:08,080 --> 00:24:11,040
Speaker 1: a channel on YouTube. It's like when you find bitcoin

464
00:24:11,080 --> 00:24:13,960
Speaker 1: authors and bitcoin podcasters and like the smart voices on

465
00:24:13,960 --> 00:24:17,359
Speaker 1: bitcoin Twitter, that's when you see people recommending Swan. And

466
00:24:17,400 --> 00:24:19,919
Speaker 1: so what's really interesting is our two biggest weeks in

467
00:24:19,920 --> 00:24:22,879
Speaker 1: our company's history were the last two weeks. So the

468
00:24:22,920 --> 00:24:25,879
Speaker 1: people that actually understand bitcoin have been backing up the

469
00:24:25,920 --> 00:24:29,640
Speaker 1: truck and buying as much as possible. That's important. That's

470
00:24:29,640 --> 00:24:31,880
Speaker 1: what we hear, and all our social channels and all

471
00:24:31,920 --> 00:24:34,760
Speaker 1: of our customer support and just seeing the flow. We've

472
00:24:34,800 --> 00:24:37,280
Speaker 1: never been busier. We've hired more people in the last

473
00:24:37,280 --> 00:24:40,239
Speaker 1: month than any month in company history, and we've had

474
00:24:40,240 --> 00:24:44,240
Speaker 1: our best month ever m by far. I like that distinction,

475
00:24:44,960 --> 00:24:47,240
Speaker 1: being you know, a long time investor and studying the

476
00:24:47,280 --> 00:24:50,800
Speaker 1: stock markets. Um they differentiate and they call them the

477
00:24:50,840 --> 00:24:52,760
Speaker 1: smart the smart money and the dumb money and smart

478
00:24:52,760 --> 00:24:55,560
Speaker 1: money or the institutions and things like that. UM. In

479
00:24:55,600 --> 00:24:58,119
Speaker 1: the in the bitcoin market, it's harder to define that

480
00:24:58,600 --> 00:25:01,399
Speaker 1: part because it's anonymous. But um, I think that was

481
00:25:01,440 --> 00:25:04,119
Speaker 1: a great point that you made, right, Like, the smart

482
00:25:04,160 --> 00:25:06,399
Speaker 1: money are the ones that are actually producing the content

483
00:25:06,480 --> 00:25:08,639
Speaker 1: the education, um, and they're the ones that are kind

484
00:25:08,640 --> 00:25:11,560
Speaker 1: of funneling into your company. So when your company is exploding,

485
00:25:11,760 --> 00:25:13,560
Speaker 1: it looks like the smart money is the one buying.

486
00:25:14,440 --> 00:25:17,120
Speaker 1: If you define smart money as people that actually understand

487
00:25:17,160 --> 00:25:19,520
Speaker 1: that coin, people who understand that coin are buying like

488
00:25:19,600 --> 00:25:24,280
Speaker 1: crazy right now, right yeah, and I would I mean,

489
00:25:24,320 --> 00:25:26,600
Speaker 1: those are the ones that have spent the time to

490
00:25:26,720 --> 00:25:30,840
Speaker 1: educate themselves and spent the time to understand it better. Yeah,

491
00:25:31,600 --> 00:25:34,159
Speaker 1: well that's good news. So UM, I guess the I

492
00:25:34,200 --> 00:25:38,040
Speaker 1: guess the inside edge the asymmetric information from from Corey

493
00:25:38,160 --> 00:25:41,320
Speaker 1: is that the smart money, the educated people are buying, UM,

494
00:25:41,320 --> 00:25:45,840
Speaker 1: they're ignoring the fud and that's probably the trend. Yeah, absolutely,

495
00:25:45,880 --> 00:25:49,159
Speaker 1: I mean that you know often look to that. You know,

496
00:25:49,200 --> 00:25:51,280
Speaker 1: what do you understand, what do you know that few

497
00:25:51,320 --> 00:25:53,320
Speaker 1: people understand, or what do you understand that few people

498
00:25:53,359 --> 00:25:55,320
Speaker 1: believe to be true? Or whatever? It is you know,

499
00:25:55,359 --> 00:25:59,200
Speaker 1: I like, I like to point out that UM, people

500
00:25:59,200 --> 00:26:04,919
Speaker 1: who understand bitcoin buy a lot more bitcoin then you know,

501
00:26:05,000 --> 00:26:07,399
Speaker 1: let's say someone who has a cursory understanding of like

502
00:26:07,480 --> 00:26:10,400
Speaker 1: crypto and maybe a little bit of bitcoin, and they're

503
00:26:10,440 --> 00:26:14,240
Speaker 1: trading on different exchanges or apps or whatever. And I

504
00:26:14,240 --> 00:26:16,760
Speaker 1: think it's really interesting, you know, like I can compare

505
00:26:16,760 --> 00:26:19,080
Speaker 1: only to sort of public company numbers, but you look

506
00:26:19,119 --> 00:26:22,200
Speaker 1: at like Voyager up in Canada, which trades a million

507
00:26:22,240 --> 00:26:26,119
Speaker 1: cryptos and has super high margins, and you know, we

508
00:26:26,280 --> 00:26:32,000
Speaker 1: make significantly more revenue per user per month, even though

509
00:26:32,160 --> 00:26:35,119
Speaker 1: our margins are much lower. So we take lower fees

510
00:26:35,640 --> 00:26:39,280
Speaker 1: and you can only buy bitcoin only one coin and

511
00:26:39,320 --> 00:26:41,199
Speaker 1: you can only buy in. Our fees are lower, and

512
00:26:41,240 --> 00:26:43,360
Speaker 1: we make a lot more money per user than they do.

513
00:26:44,720 --> 00:26:46,560
Speaker 1: And so there's a lot of noise out there with

514
00:26:46,600 --> 00:26:50,200
Speaker 1: all this this crypto crapto or whatever. But the signal

515
00:26:50,280 --> 00:26:52,600
Speaker 1: is in the people that actually understand what's going on here,

516
00:26:52,720 --> 00:26:54,919
Speaker 1: which you talk about all the time, which is that

517
00:26:54,960 --> 00:26:58,919
Speaker 1: we're watching in real time the adoption globally of a

518
00:26:58,960 --> 00:27:02,639
Speaker 1: new monetary asset in a new sort of organizing layer

519
00:27:02,880 --> 00:27:06,880
Speaker 1: for global society. UM that basically equates to our best

520
00:27:06,880 --> 00:27:11,720
Speaker 1: shot at freedom. Yeah, that's my belief. It's the only

521
00:27:11,720 --> 00:27:14,719
Speaker 1: tool that we really have at this point, and to me,

522
00:27:14,760 --> 00:27:17,680
Speaker 1: it's that important. So um, with that, I guess would

523
00:27:17,760 --> 00:27:19,720
Speaker 1: wrap it up. Thanks so much for joining us Daycoin.

524
00:27:21,280 --> 00:27:24,080
Speaker 1: Anything you want to shout out obviously swan Bitcoin, anything

525
00:27:24,119 --> 00:27:26,400
Speaker 1: that you're doing, anything where they want to direct people

526
00:27:26,400 --> 00:27:28,040
Speaker 1: to fall Yeah, no, I mean, I think it would

527
00:27:28,080 --> 00:27:30,120
Speaker 1: just be nice for people to know. Since the last

528
00:27:30,119 --> 00:27:32,000
Speaker 1: time I came on that we really ramped up our

529
00:27:32,600 --> 00:27:35,680
Speaker 1: private client services division and we have like salespeople and

530
00:27:35,720 --> 00:27:38,560
Speaker 1: account management. We're really trying to turn into like Bitcoin's

531
00:27:38,560 --> 00:27:41,600
Speaker 1: customer service team, and we will talk to you on

532
00:27:41,640 --> 00:27:43,399
Speaker 1: a zoom or on a phone call and go back

533
00:27:43,440 --> 00:27:45,800
Speaker 1: and forth on email and text message and really explain

534
00:27:45,880 --> 00:27:48,480
Speaker 1: bitcoin to you. If you're looking to move a decent

535
00:27:48,560 --> 00:27:51,600
Speaker 1: chunky your portfolio over into bitcoin, so just go to

536
00:27:51,600 --> 00:27:54,680
Speaker 1: swan bitcoin dot com, slash private and uh and sign

537
00:27:54,800 --> 00:27:57,720
Speaker 1: up there. Let them know that Mark Moss sent you,

538
00:27:57,880 --> 00:28:01,000
Speaker 1: so give him a little somet's on the back end maybe,

539
00:28:01,040 --> 00:28:04,679
Speaker 1: but you know, I just uh, I think we're really

540
00:28:05,320 --> 00:28:08,480
Speaker 1: out there educating and we'll take the time to explain

541
00:28:08,680 --> 00:28:11,879
Speaker 1: bitcoin to you and and help you along this journey

542
00:28:11,920 --> 00:28:15,120
Speaker 1: and help you get set up. So that's that's our mission. Cool,

543
00:28:15,119 --> 00:28:16,760
Speaker 1: and I'm gonna make sure to put the links down

544
00:28:16,760 --> 00:28:19,000
Speaker 1: in the description down below for anybody who's listening wants

545
00:28:19,000 --> 00:28:20,520
Speaker 1: to go check that out for more. And with that

546
00:28:20,640 --> 00:28:23,000
Speaker 1: we'll go ahead and wrap it up. Thanks so much, Corey. Yeah,

547
00:28:23,080 --> 00:28:25,240
Speaker 1: thanks Mark, thanks for having me on, all right,