Speaker 1: All right, welcome back. You are listening to another episode
Speaker 1: of The Markmas Show where we talk about bitcoin, cryptocurrencies
Speaker 1: and the decentralized revolution that is changing the world as
Speaker 1: we live in it. We're building the plane and we're
Speaker 1: flying at the same time, so to speak, Uh, pretty amazing.
Speaker 1: What's happening you know? UM, talking a lot about bitcoin,
Speaker 1: as I talk about many times, how the prices some
Speaker 1: of the least um interesting stuff to talk about unless
Speaker 1: you're a trader, which I don't recommend. Just buy and
Speaker 1: hold it, man, go focus on the rest of your life. Um.
Speaker 1: And so if we're just going to buy and hold it,
Speaker 1: then what we want to be focusing on is, as
Speaker 1: I say, the growth of the network. That's the amount
Speaker 1: of users there, the mind share there, and I've talked
Speaker 1: about a lot about that, and then we want to
Speaker 1: focus on the development that's happening on it. UM. On
Speaker 1: the previous segment, I talked about volatility, the price going
Speaker 1: up and down. Is is the difference of perception and reality,
Speaker 1: and so the reality is it's the progress of bitcoin
Speaker 1: is moving like at a forty five degree angle up. Um.
Speaker 1: So we're getting more users, were developed, been more things
Speaker 1: we're sucking in more mind share. That's the reality. The
Speaker 1: perception gets oversold and over bought and oversold and overbob.
Speaker 1: And so some of the things I like to focus
Speaker 1: on are those two things, the growth of the network
Speaker 1: and the development. And last week I was talking about
Speaker 1: how I had just gotten back from Miami and I
Speaker 1: was there for the bitcoino conference. It was amazing, and
Speaker 1: I talked a little bit about it, but I didn't
Speaker 1: get in super deep because I didn't really have time
Speaker 1: to digest it and and go through all my notes
Speaker 1: and and all that stuff. And so I wanted to
Speaker 1: digging deep into some of the stuff that I came
Speaker 1: back with because while I was there, I was able
Speaker 1: to have some amazing conversations and really look at the
Speaker 1: growth of the or that I should say, the development
Speaker 1: happening on the network, and it's amazing what's going As
Speaker 1: a matter of fact, there's been a new development on
Speaker 1: bitcoin that just completely will blow you away. I'm gonna
Speaker 1: say something that's really big and you may not agree
Speaker 1: with it, or you may not like it, but it
Speaker 1: doesn't change the real vality. But what's happening on bitcoin, well,
Speaker 1: as I've said, it's going to change the course of humanity.
Speaker 1: But what just happened, and I've been saying this for
Speaker 1: a long time, I'm I'm choosing my words carefully here. UM,
Speaker 1: I think that all the cryptocurrencies are let's say that
Speaker 1: almost all the cryptocurrencies, the other fifteen thousand of them,
Speaker 1: will eventually be built on top of bitcoin. UM. And
Speaker 1: that's exactly what we have seen. There's new technology has
Speaker 1: been released that I think is going to speed that up.
Speaker 1: It's gonna be pretty amazing. It's gonna be interesting to watch,
Speaker 1: and we're gonna have to see UM and you're gonna
Speaker 1: say the mark, You're an idiot, you're stupid, you're you're
Speaker 1: a MAXI whatever, And that's fine. We can all have
Speaker 1: different opinions and neither of us know the future. But
Speaker 1: either way, you want to know what's going on here.
Speaker 1: It's pretty amazing. So let's talk about that a little bit.
Speaker 1: So UM again. I was I was there at the
Speaker 1: Bitcoin conference. UM. I was a speaker. I was a
Speaker 1: speaker on the main stage. I worked the news desk
Speaker 1: for a couple of days. And the reason why I
Speaker 1: tell you that is because it gave me access. It
Speaker 1: gave me access backstage to all the inside stuff. It
Speaker 1: gave me access to all this speakers, It gave me
Speaker 1: access to all the developers, and I got to have
Speaker 1: some very interesting conversations there. Now, just talking about the
Speaker 1: growth of the network for a minute. UM in two
Speaker 1: thousand nineteen there was about fifteen hundred attendees, or maybe
Speaker 1: less than two thousand. They didn't have it in because
Speaker 1: you know COVID, but but one it had gone from
Speaker 1: less than two thousand to just over ten thousand CLO's
Speaker 1: called two thousand and ten thousand and five x UM
Speaker 1: and then we went from ten thousand to thirty five thousand,
Speaker 1: called thirty thousand. That's a three x. That's insane to
Speaker 1: have that kind of growth. And what that tells you
Speaker 1: is the growth of the network, right, that's the amount
Speaker 1: of people that are coming in. That's how fast this
Speaker 1: is growing. That's the reality. The price will catch up.
Speaker 1: The price will catch up. This reality. I do want
Speaker 1: to say that to about thirty five thousand attendees UM.
Speaker 1: The they put out a report showing exactly what went
Speaker 1: into producing this event, and they reported to have spent
Speaker 1: over thirty million million dollars in production costs, which is amazing.
Speaker 1: I say that because I saw a lot of people
Speaker 1: UM in the space going. I can't believe they charge
Speaker 1: so much for a ticket. They should make these events free.
Speaker 1: And it's like, I mean, man, it costs money to
Speaker 1: put these events on. It costs thirty million dollars. It's
Speaker 1: about it about a thousand bucks per person to put
Speaker 1: this event on. So I thought that was pretty interesting
Speaker 1: that they shared that, and I appreciate that. And I
Speaker 1: can tell you that I've been running my own event, which,
Speaker 1: by the way, I have my second annual event coming up.
Speaker 1: It's called Market Disruptors Live. If you want to learn
Speaker 1: how to build, grow and protect your wealth UM in
Speaker 1: the in this decentralized revolution that we're living through right now,
Speaker 1: then you do not want to miss Market Disruptors Live
Speaker 1: dot com. It's coming up next month. And I can
Speaker 1: tell you my numbers are about the same. I mean,
Speaker 1: it costs about a thousand dollars per person to throw
Speaker 1: the event. That's what that's what that's what the Bitcoin
Speaker 1: conference costs UM about about a thousand dollars per person,
Speaker 1: and that's that's about what it costs. So I just
Speaker 1: thought i'd share that's pretty interesting. UM but anyway, UM,
Speaker 1: some of the stuff that I saw, so some of
Speaker 1: the stuff. So a lot of times people think that
Speaker 1: bitcoin is like old technology. It's like Facebook. I'm sorry,
Speaker 1: it looks like my Space and we'll have a Facebook
Speaker 1: there or something like that. Bitcoin's old, slow and clunky bitcoin,
Speaker 1: Bitcoin is too slow to transfer value. UM. Peter Theol, um,
Speaker 1: if you recognize that name. Peter theol was the the
Speaker 1: original founder of PayPal. UM. He started PayPal to change
Speaker 1: the financial system. He thought he could change the federal
Speaker 1: reserve system. And uh, he's prolific tech tech investor, UM,
Speaker 1: amazingly smart. I mean he's forgotten more than I'll ever know. Uh,
Speaker 1: he's he's amazingly smart. So not trying to put it
Speaker 1: against him. But he spoke at the Bitcoin conference and
Speaker 1: I and I was a little bit, Uh, I was
Speaker 1: a little taken back by his presentation because it showed
Speaker 1: like this, um, this whole in his thinking, like he
Speaker 1: had to this. He was missing something And I don't know,
Speaker 1: Am I that smart that I can see it and
Speaker 1: he doesn't, And so kind of surprised me. And as
Speaker 1: it turned out, I was invited to the private event
Speaker 1: on just a couple of days ago, another friend, Alex Epstein,
Speaker 1: just wrote a book called the Fossil Fuels. He previously
Speaker 1: wrote a book called The Case for Fossil Fuels, and
Speaker 1: now his new books called Fossil Future. And if you've
Speaker 1: can guess by the titles, it's about why we need
Speaker 1: more more abundant, cheap energy, why the world needs that
Speaker 1: um And so anyway, he had this book released party
Speaker 1: in Newport Beach and I got to go to that.
Speaker 1: Luckily I was invited, and Peter Thiel was there and
Speaker 1: he was actually one of the co presenters and it
Speaker 1: was just a small event, fifty people something like that.
Speaker 1: So I got a chance to go talk to Peter
Speaker 1: theele and I said, hey, Peter, you know, I caught
Speaker 1: your presentation. I really liked it. I thought it was
Speaker 1: really good. But I think there was something you might
Speaker 1: have been missing, and I just I just like to
Speaker 1: ask you about it. And uh, I said, you said
Speaker 1: that you know, bitcoin is good for a store of value,
Speaker 1: but then you need something like ethereum to have velocity
Speaker 1: in order to get the speed that you need. Well,
Speaker 1: first of all, um, ethereum has about the same slow
Speaker 1: transaction time as bitcoin. But I said what's your what's your? What?
Speaker 1: What you what I think you're missing? I'm trying to
Speaker 1: say it's very respectfully. What I think you're missing is
Speaker 1: that Bitcoin is both. Bitcoin is both the store value
Speaker 1: and using Layer two applications like Lightning, I can send
Speaker 1: bitcoin faster and cheaper than any other cryptocurrency that's out there.
Speaker 1: I can send it faster than Visa, I can send
Speaker 1: it faster than anything. And he's like, well, I didn't know.
Speaker 1: I'm not really that caught up on Lightning. He said,
Speaker 1: if it works like you say it does, that would
Speaker 1: be amazing. I said, well it does. I've been to
Speaker 1: El Salvador many times. I've used it over and over.
Speaker 1: I've used Lightning, and I can tell you that I
Speaker 1: can send bitcoin over the Lightning network faster than Mike,
Speaker 1: than than the point of sale credit card terminal can
Speaker 1: even dial in and run the credit card transaction. And
Speaker 1: he's like, well, I guess, I guess I have to
Speaker 1: look more into that. And so the reason why I
Speaker 1: tell you that story is because, um, I'm talking about
Speaker 1: Lightning specifically. So Lightning is an application that's built on
Speaker 1: top of the Bitcoin network that allows it to do
Speaker 1: a lot of other Apple, lots of other applications, lots
Speaker 1: of other things that there the base blockchain layer of
Speaker 1: bitcoin blockchain cannot do. A lot of people don't know this,
Speaker 1: and I want to tell even Peter Field didn't know this,
Speaker 1: and this is what most people are missing and you
Speaker 1: need to understand this. So UM Lightning Labs is a
Speaker 1: company that builds out this hardware. Now they introduce something
Speaker 1: that's so big and so massive, it's literally going to
Speaker 1: change the world. And I don't mean that. I don't
Speaker 1: mean that lightly, and I want to tell you what
Speaker 1: they're doing. They raised a bunch of money, but I
Speaker 1: want to tell you about a new release UM and
Speaker 1: what it's gonna do. I'm gonna explain that, and then
Speaker 1: we'll take a look and see how that can change
Speaker 1: stable coins defy n f T. I mean, what what
Speaker 1: this is gonna change. I' gonna tell you about some
Speaker 1: of the other announcements of of some of the developers
Speaker 1: that I was there with because I got the inside
Speaker 1: scoop and I want to give it to you. That's
Speaker 1: the benefit of you getting the tune and listen to me.
Speaker 1: By the way, you're listening to the Mark Moa show
Speaker 1: and we're talking about bitcoin and cryptocurrencies and the decentralized revolution,
Speaker 1: talking about how it's changing the world right before our
Speaker 1: very eyes. And UM, some people, even some of the
Speaker 1: smartest people in the world, like Peter feel are missing it. UM.
Speaker 1: Not because not because they don't understand it. It's just
Speaker 1: you have to spend a lot of time studying this stuff,
Speaker 1: and I do, and I get to talk to these people,
Speaker 1: and so I want to share with you. You don't
Speaker 1: want to miss it. You don't want to miss what's
Speaker 1: going on. Could miss the biggest investment opportunity of your life.
Speaker 1: You're listening to the Markma Show talking about bitcoin and
Speaker 1: the decentralized revolution. I'm gonna be right back with more.
Speaker 1: Don't go away, all right, Welcome back. You are listening
Speaker 1: to the Markma Show. We're talking about bitcoin, We're talking
Speaker 1: about cryptocurrencies. We're talking about the decentralized revolution. UM talking
Speaker 1: about the intersection, as I say, the intersection of politics, finance,
Speaker 1: and technology where all three of them are converging at
Speaker 1: the same time. Before the break, I was talking about
Speaker 1: UM being an insider at the Bitcoin conference, UM, the
Speaker 1: growth of the conference, the amount of people that are there,
Speaker 1: because I was a speaker on the main stays are
Speaker 1: at access to the backstage, and I gotta hang out
Speaker 1: with the developers and the and the investors, and I
Speaker 1: gotta get the inside scoop. And I talked about it
Speaker 1: last week, but I didn't really get to digest all
Speaker 1: my notes and gets prepared for you, and so I
Speaker 1: kind of want to come back and tell you about
Speaker 1: some of this stuff. And so before the break, I
Speaker 1: was just talking about Peter Thiel and his presentation there
Speaker 1: and how I got a chance to actually talk to
Speaker 1: him a couple of days ago and how he kind
Speaker 1: of missed this and maybe you are too, and so
Speaker 1: um bitcoin, Well, the way technology works, as scales and
Speaker 1: layers and so, like gold is like a base settlement layer.
Speaker 1: If I hold gold, nobody else has gold. If I
Speaker 1: hand it to you, now you have the gold. But
Speaker 1: in order to get velocity, in order to move that faster, UM,
Speaker 1: I put the gold in a bank and then they
Speaker 1: gave me a paper goalstificate and now I can move
Speaker 1: paper goal stick. It's very fast. So that was a
Speaker 1: layer two. It's not final settlement. Um. In order to
Speaker 1: get the final settlement, i'd stuff to take that paper
Speaker 1: goalstificate and take it back to the bank and then
Speaker 1: I can get the gold UM and and that's sort
Speaker 1: of what the Internet has done as well. And so
Speaker 1: we have the Internet, which is this tc P i
Speaker 1: P protocol, and then if we want things like email,
Speaker 1: we scale on top of at SMTP. We want security,
Speaker 1: it's a GTPs and so bitcoin is also similar. So
Speaker 1: we have this base settlement layer, and then on layer
Speaker 1: two there's a few different Layer two applications and they're
Speaker 1: able to make trade offs and so they can be
Speaker 1: faster or more private or something like that, or cheaper um,
Speaker 1: but they're not final settlement their second layer. But it's
Speaker 1: still moving in the same asset. And so we have Lightning,
Speaker 1: we have Liquid, we have r s K, we have
Speaker 1: a we have a couple of these, but Lightning Labs
Speaker 1: is the big one. Lightning is the big one. And
Speaker 1: they announced a seventy million that's right, seven zero seventy
Speaker 1: million zero series we capital raise. UM, so I have
Speaker 1: a lot of money to go do a lot of things,
Speaker 1: which is cool. And this is important for a couple
Speaker 1: of reasons. Um. You hear a lot about fifteen thousand cryptocurrencies,
Speaker 1: and the reason why is anyone who starts a cryptocurrency
Speaker 1: can literally print themselves money. You can go start a
Speaker 1: new cryptocurrency call it marks coin, and I can go say,
Speaker 1: I'm gonna have a hundred million coins, and I can
Speaker 1: get uh, I can get these vcs to UM give me,
Speaker 1: you know, money, and I'm gonna sell them of mark
Speaker 1: coin and I'm gonna keep six from myself. And they
Speaker 1: these vcs love that deal because they just we're able
Speaker 1: to buy printed money. They buy them for me for
Speaker 1: three cents a piece, and they turn around a sound
Speaker 1: for three bucks a piece. Right, And so that's easy.
Speaker 1: You can just go prench yourself bucks. But to build
Speaker 1: on bitcoin, you have to go meet with real investors.
Speaker 1: They have to give you real money, and they want
Speaker 1: to invest into real companies that are building real products.
Speaker 1: You can't just print money for free. You can't create
Speaker 1: more bitcoin. And so for Lightning Labs, for any bitcoin
Speaker 1: company to raise money, it's a way bigger deal than
Speaker 1: for a crypto company who just printed that money. So
Speaker 1: Lightning Labs to raise seventy million dollars a really big deal.
Speaker 1: But most importantly, UM what they're using with it. And
Speaker 1: they announced the new specification called Taro t A r
Speaker 1: oh and if successful, it will allow multiple asset types
Speaker 1: to be issued on the Bitcoin Lightning network. All right, now,
Speaker 1: this is a big deal. What does that mean? Well,
Speaker 1: the most notable feature will be probably for stable coins.
Speaker 1: So stable coins are coins that are pegged to a dollar.
Speaker 1: Right there, they're getting very prolific. Um. I put a
Speaker 1: dollar in um in you give me a dollar stable coin,
Speaker 1: and the stable means it's always pegged to a dollar.
Speaker 1: It's always worth one dollar. Um. Not that the dollar
Speaker 1: is very stable, but it's always worth one dollar. And
Speaker 1: then I can move those dollars around the world very
Speaker 1: quickly like a cryptocurrency. And so um we can now
Speaker 1: um with this tar update will be able to use
Speaker 1: use it for stable coins, and it will send stable
Speaker 1: coins instantly and nearly for free. Now right now, if
Speaker 1: you're trying to do them over ethereum uh, it could
Speaker 1: cost you thirts to send that transaction. It takes a
Speaker 1: long time. But if I do it over lightning, over
Speaker 1: the Bitcoin network over Lightning, it can be done instant
Speaker 1: and nearly for free. It could also technically be used
Speaker 1: for n f t s. That's right, n f t
Speaker 1: S or wrapped versions of other blockchain tokens. So right now,
Speaker 1: like Atherorium for example, you could do like a wrapped Bitcoin.
Speaker 1: But now on this you might be able to do
Speaker 1: a rapt ethereum on Bitcoin or any other security for
Speaker 1: that matter. Security wh would be like stocks, like a
Speaker 1: share of Tesla or Apple something like that. The way
Speaker 1: it work in practice is basically UM. Anybody with a
Speaker 1: mobile lightning wallet, which if you have a Bitcoin wallet
Speaker 1: downloaded on your phone, it probably supports Lightning. If it doesn't,
Speaker 1: get rid of it, get another one, but like blue
Speaker 1: wallet or wallet of Toshi like those do UM. And
Speaker 1: so I'd have a wallet with Lightning wallet, I'd have
Speaker 1: a Bitcoin balance as well as a balance for usd
Speaker 1: stable coins in it. So I'd have Bitcoin, and I'd
Speaker 1: have US dollars basically in there, and any other assets
Speaker 1: I might be holding. I could also have UM shares
Speaker 1: of an apartment complex or a hotel chain or UM
Speaker 1: Apple or Tesla stock, right, and then I could send
Speaker 1: those assets around very easily over the Lightning network. So
Speaker 1: it could be U S dollars on stable coins, it
Speaker 1: could be shares of this hotel, and I could send
Speaker 1: those assets instantly and for free. An excerpt from Lightning
Speaker 1: Labs to erectly from them says that the new tap
Speaker 1: Root powered protocol for issuing assets on the Bitcoin blockchain
Speaker 1: that could be transferred over the Lightning network for instant,
Speaker 1: high volume, low fee transactions. At its core, Taro taps
Speaker 1: into the security and stability of the Bitcoin network and
Speaker 1: the speed, scalability and low fees of the Lightning network.
Speaker 1: And so this is what people are missing. Bitcoin is
Speaker 1: the most secure, most essentialized network period. Nothing comes close
Speaker 1: to that at all period. There's just there's just no
Speaker 1: argument that nobody can make an argument for them. However,
Speaker 1: people would argue, but it's too slow, and so we
Speaker 1: need something else to be faster. But when you put
Speaker 1: when you use Lightning and Bitcoin together, you get both.
Speaker 1: You get um the most secure network and you get instant,
Speaker 1: high volume, low fee transactions at the same time. UM
Speaker 1: And that's the That's a big deal, um It, says uh.
Speaker 1: Taproo says Taro is conceptually similar to clark Coins. Um
Speaker 1: it improves privacy and scale ay Assets issued on Taro
Speaker 1: can be deposited into Lightning network channels, where nodes can
Speaker 1: offer atomic conversion from Bitcoin to Tara assets. So basically
Speaker 1: what it's saying is I use this bitcoin wallet that
Speaker 1: supports lightning, and inside the wallet, I don't need to
Speaker 1: an exchange. It could automatically convert the assets, so I
Speaker 1: don't need to exchange and I could just convert it,
Speaker 1: which is pretty cool because an exchange, I have to
Speaker 1: find somebody else wanted to be through the exchange with me,
Speaker 1: and so um and it allows things to inter operate,
Speaker 1: so any asset, a security, a stock, whatever, um built
Speaker 1: on Taro would be interoperably able to work together with this,
Speaker 1: which is pretty cool. Says participants on Taro transfer bear
Speaker 1: the costs of verification and storage by story and Taro.
Speaker 1: That's a little bit technical stuff, but the summary is basically,
Speaker 1: it allows assets to be issued on the bitcoin block chain.
Speaker 1: So now assets so shares of Apple or Tesla, shares
Speaker 1: of a hotel chain, or stable coins on the bitcoin
Speaker 1: block chain. It leverages tap root privacy and scalability. So
Speaker 1: a lot of people like, well, um, bitcoin is not
Speaker 1: good because it's not it's not private. That's why I
Speaker 1: need x y Z privacy coin or pirate pirate coin
Speaker 1: or mow narrow. Well, if we use if we leverage
Speaker 1: tap root, we can have privacy and scalability. It says
Speaker 1: assets can be deposited into lightning channels. UM. Assets can
Speaker 1: be transferred over the existing lightning network and so UM again,
Speaker 1: I can send bitcoin either on the main chain, which
Speaker 1: is slow and expensive. I mean when I say slow
Speaker 1: and expensive, I could send a billion dollars a bitcoin
Speaker 1: if I had a billion UM for you know, maybe
Speaker 1: a dollar in uh, you know, twenty minutes, fifteen minutes. UM.
Speaker 1: That's slow and expensive, faster than I could drive to
Speaker 1: the bank. Can do a wire transfer, um. But over
Speaker 1: the lightning network, it's literally instant. And I'm sending bitcoin,
Speaker 1: but it's over this network, UM, and so it's pretty
Speaker 1: amazing what it's gonna do. UM. It's a very light
Speaker 1: client friendly and so what does that mean? So bitcoin
Speaker 1: has kept these small blocks which allows it to be
Speaker 1: a very low client and so you can do it
Speaker 1: over phone is, over mesh networks, things like that. UM.
Speaker 1: But I want to tell you about what this can
Speaker 1: actually do in the future. So I want a future
Speaker 1: castes so you can understand a little bit. It might
Speaker 1: be a little bit in the weeds for you. Right now.
Speaker 1: What I want to make it make sense. You're listening
Speaker 1: to the Markma Show talking about bitcoin, talking about cryptocurrency,
Speaker 1: is talking about the rede centralized revolution. I'll be right back,
Speaker 1: all right, welcome back. You are listening to the Markma Show.
Speaker 1: We're talking about bitcoin, We're talking about cryptocurrencies. We are
Speaker 1: talking about the decentralized revolution that's happening, and I'm narrating
Speaker 1: it for you. I'm trying to give you the play
Speaker 1: by pay so you can get in before the masses.
Speaker 1: Like we say, everybody will buy at the price they deserve,
Speaker 1: and I think you deserve to get in at a
Speaker 1: good low price, like right now today, And of course
Speaker 1: you need the information to do that. Um, I'm I'm
Speaker 1: talking about my experience at the Bitcoin conference. I know
Speaker 1: I covered it a little bit last week, but I
Speaker 1: kind of gave you just a quick overview. I hadn't
Speaker 1: really had time to go back and look review my
Speaker 1: notes and have some follow up conversations to really dig
Speaker 1: into some of the stuff. And since I was there
Speaker 1: and I was an insider, I gotta have access to
Speaker 1: conversations that most people didn't. I wanted to kind of
Speaker 1: explain some of this to you, and so, UM, the
Speaker 1: biggest announcement that was made was Lightning Labs coming out
Speaker 1: with this taro, and so I was explaining that to
Speaker 1: you just before the break. If you've missed it so far, UM,
Speaker 1: well I'm not gonna repeat myself. But what you can
Speaker 1: do is you can search Mark Moss I Heart or
Speaker 1: Mark Moss podcast and you can listen to the podcast
Speaker 1: which will come out um later and you can catch
Speaker 1: up on it there. But basically, this Taro is the
Speaker 1: second layer platform. Um and uh. And like I said,
Speaker 1: we can already send assets nearly instant and free. And
Speaker 1: I've used it. It works, Um, go down to El Salvador.
Speaker 1: It works. I mean I used it at the Bitcoin conference.
Speaker 1: I did a book signing when I was there. By
Speaker 1: the way, I have a new book out. It's called
Speaker 1: The Uncommunist Manifesto. Um. We just launched it. It's in Kickstarter.
Speaker 1: I don't know by the time you listen to this,
Speaker 1: the kickstarter might be over, but then you can just
Speaker 1: buy it. But you can check out at Uncommunist dot com.
Speaker 1: And so at the Bitcoin conference, I did a book
Speaker 1: signing for two days when I was there, and of
Speaker 1: course we were taking bitcoin at the Bitcoin Conference of course,
Speaker 1: and while we're doing a book signing, we can't wait,
Speaker 1: you know, ten or fifteen minutes for the bitcoin to
Speaker 1: come through. And so we are taking bitcoin over lightning.
Speaker 1: And so I've used it extensively. I've used it Neil Salvador,
Speaker 1: I have used it at the Bitcoin conference. I've used
Speaker 1: it many times. And I can tell you that as
Speaker 1: soon as you push that button and take your finger
Speaker 1: off the button, the bitcoin is there. I mean it's
Speaker 1: literally that fast. I mean, you know, in a scientific
Speaker 1: lab we're using you know, some crazy stop watch. I mean,
Speaker 1: is there may be a difference with something else maybe,
Speaker 1: but you know, to the human naked eye, I can't
Speaker 1: really tell the difference. It's fast. UM. So we already
Speaker 1: have that, and now UM with Tara, will be able
Speaker 1: to put other assets on there. So it could be
Speaker 1: shares of a hotel, it could be shares of Apple
Speaker 1: or Tesla, um, it could be n f t s,
Speaker 1: it could be anything, and then we could transact it
Speaker 1: on the most stable and powerful blockchain. But it can
Speaker 1: be have the speed of lightning. Um. Now, some layer
Speaker 1: two platforms on top of Bitcoin already have stable coins
Speaker 1: and n f t s, So I do want to
Speaker 1: tell you that now you've probably heard of Tether. Tether's
Speaker 1: the largest stable coin, is the oldest stable coin, and
Speaker 1: Tether originally started out as a layer above bitcoin um.
Speaker 1: Then then it moved though. Then it moved over to ethereum,
Speaker 1: and then of course ethereum is too slow and expensive,
Speaker 1: and then it moved over to tron And then, as
Speaker 1: I said, we have other layer two So there's also
Speaker 1: liquid So the liquid neck network also has a stable
Speaker 1: coin and has n f t s and and has
Speaker 1: other assets as well. Um, there's other layer two networks
Speaker 1: as well. But what makes Taro particularly interesting is that
Speaker 1: its assets can run directly over the Lightning network. All right,
Speaker 1: So that's the big deal. So it's interoperable with the
Speaker 1: Lightning network because that is the big network. That's what
Speaker 1: everything's running on. And money has to have a bunch
Speaker 1: of different attributes. Um. One of them it has to
Speaker 1: be sailable. One of them means it has to be recognizable,
Speaker 1: people have to take it. What good is having a coin,
Speaker 1: a privacy coin like Monaro for example, if nobody will
Speaker 1: take it from you. And so if you use these
Speaker 1: other layer two's um that I've that I just mentioned,
Speaker 1: they don't have the acceptance. And Lightning is the biggest
Speaker 1: network over the over the bitcoin network right now, and
Speaker 1: so to be on that network and have that interoperability
Speaker 1: is a really big deal. And of course that Lightning
Speaker 1: network is what makes the stable coin payments nearly instant
Speaker 1: and nearly free. So big, big, big news. Um. You know,
Speaker 1: I was, I was talking about this earlier and with
Speaker 1: um with someone, and it's hard to imagine how big
Speaker 1: of an impact these things will make into the future.
Speaker 1: And the reason why is because as humans, humans are
Speaker 1: are no good at imagining the future. What we can
Speaker 1: do is we can only imagine better versions of what
Speaker 1: we have today. And if you go back and you
Speaker 1: look back, you know, thirty fifty, sixty years ago at
Speaker 1: all these like futurist magazines, Um, they thought by now
Speaker 1: we would be zooming around the space on rockets, right,
Speaker 1: or we'd be teleporting ourselves, um, you know something like that.
Speaker 1: Of course, none of those things are true. We don't
Speaker 1: have flying cars. We don't have flying cars. We don't
Speaker 1: have robots cleaning our house. We don't have rockets flying
Speaker 1: us around space. We don't have any of that that
Speaker 1: they predicted. What we do have is we have an
Speaker 1: iPhone in our hands. We have a computer that's more
Speaker 1: powerful than um, you know, than the computer that made
Speaker 1: the Space shuttle. We do have that, We do have
Speaker 1: technologies like that, but none of those um technology magazines
Speaker 1: got that part. All the things they thought we'd have
Speaker 1: we don't, and the things that we do have they
Speaker 1: didn't get. And that's just because humans are no no
Speaker 1: good at this. And part of the reason why is
Speaker 1: because we don't have the building blocks necessary to build
Speaker 1: those things, and so we can't imagine these new things
Speaker 1: without the building blocks. So, for example, when the Internet
Speaker 1: came out, UM, we had you know, we we had
Speaker 1: message boards and we had email, and we thought, oh,
Speaker 1: one day we'll be able to buy stuff online. That's
Speaker 1: pretty cool. But see we were already buying stuff, right,
Speaker 1: so we oh, buy it online. Um, maybe one day
Speaker 1: we'll have like virtual meetings online. We thought that, but
Speaker 1: we didn't know other things, like we didn't have building blocks.
Speaker 1: We didn't know that our car would be hooked to
Speaker 1: something called a cloud using something called social media to
Speaker 1: navigate us around traffic. We didn't know that because we
Speaker 1: didn't have any of those building blocks. When the iPhone
Speaker 1: came out in two thousand and seven. Um, I mean,
Speaker 1: you know, a decade after I had already been using
Speaker 1: the Internet to the iPhone finally came out, which was cool, like,
Speaker 1: we have a computer on the phone. We put those together,
Speaker 1: and when it came out, a few people thought like, wow,
Speaker 1: this could disrupt the taxi industry. A decade from now,
Speaker 1: nobody thought that. But basically, multiple types of technology had
Speaker 1: reached the point where everyone could have an Internet connected
Speaker 1: computer in their pocket. And once everyone had an Internet
Speaker 1: connected computer in their pocket, then what that was is
Speaker 1: a set of building blocks. That was that enabled people
Speaker 1: to build things that nobody else had a madd engined,
Speaker 1: including applications like Uber and so now we have another
Speaker 1: set of building blocks. Now we have a network of
Speaker 1: instant and nearly free transactions across multiple asset types, including
Speaker 1: self custody bear assets that can be programmed with all
Speaker 1: sorts of multi signature use cases. And it's another set
Speaker 1: of building blocks. So for example, if I had a
Speaker 1: set of a deck of cards playing cards, I could
Speaker 1: build a house of cards, right I could. I'm very
Speaker 1: limited to what I can build with those cards. If
Speaker 1: I had a set of legos, I could build something
Speaker 1: way more complex because I have a different set of
Speaker 1: building blocks. And that's kind of um a similar thought.
Speaker 1: So with with the Internet and with the iPhone, we
Speaker 1: had a set of building blocks that allowed us to
Speaker 1: build things that nobody would have ever imagined. And today
Speaker 1: we have this new set of building blocks, and who knows,
Speaker 1: um what we could build out and be pretty pretty amazing.
Speaker 1: A couple other announcements that I saw, UM one of them,
Speaker 1: Jack Mauler's of Strike announced a set of partnerships with
Speaker 1: n CR Corporation UM. They're a public traded company n
Speaker 1: c R. They represent the point of sales systems for merchants.
Speaker 1: So if you go to a store to buy things
Speaker 1: and you check out with your credit card or debit card,
Speaker 1: that's the point of sale system. NCR, according to Jack Maller's,
Speaker 1: represents one out of six payment systems, one out of six.
Speaker 1: And so what that means is that usually able to
Speaker 1: buy UM be able to use lightning to buy anywhere
Speaker 1: NCR is accepted, including McDonald's, Walmart, and other places that
Speaker 1: use these payment handlers. So supposedly, like right now, the
Speaker 1: agreements already been reached, I can go into anywhere the
Speaker 1: NCR supports such as Walmart and McDonald's and pay with
Speaker 1: stable coins or pay with bitcoin over the Lightning network,
Speaker 1: instantaneous and free. I mean that is massive. We don't
Speaker 1: need laws to make things legal tender. These merchants can
Speaker 1: already accept bitcoin as is as is now. I do
Speaker 1: want to stress though that, like, that's cool having these
Speaker 1: merchants except this, but um, I want to stress one thing. Um,
Speaker 1: just like you wouldn't walk around with your life savings
Speaker 1: in your wallet because you don't want to lose your
Speaker 1: wallet and then lose your life savings. You only pull
Speaker 1: a little bit of money out of the bank to
Speaker 1: put in your wall to walk around with. And I
Speaker 1: do want to stress out that stress that the money
Speaker 1: you put into your bitcoin wallet, your Lightning wallet on
Speaker 1: your phone, it's like your wallet in your in your pocket,
Speaker 1: only put in there what you could afford to lose.
Speaker 1: Think about it, just like your paper wallet. You're listening
Speaker 1: to the Mark Moa Show. I'm gonna be back and
Speaker 1: tell you about the rest of the developments. Don't go away,
Speaker 1: I'll be right back, all right, Welcome back. You are
Speaker 1: listening to the Mark Moss Show, and we are talking
Speaker 1: about bitcoin, cryptocurrencies, the decentralized revolution that's happening right now.
Speaker 1: Of course, you know, it's like watching paint dry. When
Speaker 1: you're watching it, you don't really notice it. But the
Speaker 1: world is changing, and it's changing fast. And uh, I've
Speaker 1: been talking about this hour, talking about some of the
Speaker 1: big announcements that were made at the Bitcoin conference, some
Speaker 1: of the things that I had access to. And I
Speaker 1: didn't really get to cover him last week because I
Speaker 1: hadn't really gone through all my notes and had to
Speaker 1: follow up conversations. But I was talking about how UM
Speaker 1: now with this Lightning we can transact Bitcoin faster and
Speaker 1: cheaper than any other cryptocurrency. And now with his new
Speaker 1: tarrow upgrade that's happened on the Lightning network, we can
Speaker 1: put other types of assets, including potentially stocks and securities,
Speaker 1: U n f t s, stable coins, things like that.
Speaker 1: And then I was talking about how Jack Maller's have
Speaker 1: Strike announced a partnership with NCR, which runs the point
Speaker 1: of sale UM system at one out of six merchants
Speaker 1: according to him, and so UM, now you should be
Speaker 1: able to start going into these merchants one out of six,
Speaker 1: including Walmart, McDonald's, etcetera. And choose to pay with stable
Speaker 1: coins or dare I say bitcoin? You can literally pay
Speaker 1: with bitcoin over Lightning from those places. It's amazing. Also,
Speaker 1: he announced the integration with Shopify. So if you go
Speaker 1: online to buy a product on a Shopify store, which
Speaker 1: is a bunch of stores, at this point, when you
Speaker 1: go to check out, there's like a place to put
Speaker 1: your credit card in. You've seen the box I says,
Speaker 1: choose PayPal, and now there's a box that you can
Speaker 1: choose to pay with bitcoin, just like that. It's pretty amazing. Um,
Speaker 1: pretty amazing what's happening. And the ability to store bitcoin
Speaker 1: UM safely in a multi stig wallet and then be
Speaker 1: able to transact it instantaneous and free over the Lightning network,
Speaker 1: and have the interoperability to also transfer other assets across
Speaker 1: the Lightning network like stable coins and like n f
Speaker 1: t s and things like that. I mean, man, things
Speaker 1: are moving really really fast. I'm bullish on stable coins
Speaker 1: UM and normally they run on smart contract block chains,
Speaker 1: but for them to be able to run over the
Speaker 1: Lightning channels, I mean that is a powerful combination because
Speaker 1: like I said, they're instant and they're cheap UM and
Speaker 1: if you just stick with stable coins, especially you know,
Speaker 1: I've been down in El Salvadore working with them, and
Speaker 1: if you're in these other countries or you know, if
Speaker 1: you don't have a of money, Bitcoin is volatile. The
Speaker 1: price of bitcoin goes up and down. If you don't
Speaker 1: have money you can put away for a couple of years.
Speaker 1: Let's just say that you know, you get you got paid,
Speaker 1: and you know you're living paycheck to paycheck, for example,
Speaker 1: you don't want to put that into bitcoin because the
Speaker 1: reality is next week it could be down. It could Uh.
Speaker 1: Typically I would say put into bitcoin what you can
Speaker 1: afford to leave there for like at least three years.
Speaker 1: There's never been a there's never been a three year
Speaker 1: period where bitcoin has been down. So what you could
Speaker 1: do though, with that short term money is you can
Speaker 1: put it into stable coins. And the reason why you
Speaker 1: might want to do that, especially if you're in a
Speaker 1: foreign country, is now you can have the ease of
Speaker 1: of bitcoin sending money around to people, you can custody yourself,
Speaker 1: you can have access to It's sort of like cash. Um.
Speaker 1: But if you're an El Salvador and I'm in America,
Speaker 1: I can send you that US dollar stable coin instant
Speaker 1: and free, and you can go to the bank and
Speaker 1: just withdraw it out of an a t M without
Speaker 1: having to go to the grocery store and go to
Speaker 1: Western Union and have them take twenty And so you know,
Speaker 1: for a lot of people having the ability to do
Speaker 1: S dollar, stable coins and bitcoin together, it's going to
Speaker 1: be a game changer, and it can it can basically
Speaker 1: get you out of the traditional banking platform. Now, it
Speaker 1: doesn't mean the death of the US dollar. The U
Speaker 1: S dollar just starts to take a new shape, right
Speaker 1: And that's where I'm talking about it being used together
Speaker 1: in the same wallet, on the same network, but for
Speaker 1: different purposes. I think eventually, over a long enough period
Speaker 1: of time, you know, the US dollar isn't needed as much,
Speaker 1: and then eventually maybe not at all. But in the
Speaker 1: meantime for right now, especially when you're living in other
Speaker 1: countries or if you're not really if you don't have
Speaker 1: enough money to hold um that you could kind of
Speaker 1: ride out that volatility. Then, UM, I think that the
Speaker 1: combination is extremely powerful. And when all this is a
Speaker 1: deployed at scale, I mean it is a massive value
Speaker 1: you proposition for the bitcoin network. Um, there was a
Speaker 1: there was a good piece that CNBC. Surprisingly, a good
Speaker 1: piece that CNBC put out talking specifically about the Lightning
Speaker 1: network and maybe I should forward this over to Peter
Speaker 1: feel so we could read it UM. But they were
Speaker 1: talking about how UM they decided to put Lightning payments
Speaker 1: to the test um and with the expertise in translation
Speaker 1: skills of bitcoin developer who is currently hiding out in
Speaker 1: the western part of Ukraine because of the war that's
Speaker 1: reaging on, and they said, the bottom line, it really
Speaker 1: does work as well as bitcoin boosters say it does.
Speaker 1: The process of downloading the crypto wallet onto the person's
Speaker 1: phone in the Ukraine, transferring bitcoin over the Lightning network
Speaker 1: from the United States to Poland, and then going and
Speaker 1: withdrawing the equivalent in Polish currency from a bitcoin a
Speaker 1: t M from the Southwest city took less than three minutes.
Speaker 1: Good luck doing that with Western Union. That's that's a
Speaker 1: percy NBC. I read that directly, UM, and so that's
Speaker 1: pretty cool. On top of that, UM Lightning Labs was
Speaker 1: the big, the big, the big to do, but there
Speaker 1: was a bunch of other companies raising money, which is
Speaker 1: pretty cool. UM open Node raised twenty million dollars. It's
Speaker 1: a big number. Voltage raised six million dollars. Voltage is
Speaker 1: a cool company. Um, they allow you to spin up
Speaker 1: a lightning node. So the thing with bitcoin is that
Speaker 1: we say don't trust, but verify. What does that mean
Speaker 1: if somebody, you know, gold is money for five thousand years,
Speaker 1: somebody paid me with gold, how do I how do
Speaker 1: I know that gold is good? Or how do I
Speaker 1: know that gold is real? And so, um, I would
Speaker 1: need you know, some kind of sort of fancy spectrometer
Speaker 1: or something to to find out how pure that gold is.
Speaker 1: And so bitcoin is the same way, like, how do
Speaker 1: I know the bitcoin you send me as real? Well,
Speaker 1: I would want to use my own computer network, my
Speaker 1: own node is what it's called to verify that transaction.
Speaker 1: And so everybody should run a note. They're they're super cheap,
Speaker 1: you know, for a hunter bucks you could set one up.
Speaker 1: I mean you could even set one up for free
Speaker 1: if you have an old laptop or something. Um. But
Speaker 1: but Voltage allows you to spin up a lightning note,
Speaker 1: a Bitcoin lightning note, and they'll host it for you
Speaker 1: for like a fixed fee. I don't know if it's
Speaker 1: eight ten bucks a month something like that. And then
Speaker 1: I can host my own note that I can use
Speaker 1: my own I can, I can, I can verify all
Speaker 1: my own transactions in and out UM, and then there's
Speaker 1: a lot of other things that I can start building
Speaker 1: on top of that. UM. That's what Voltage is doing.
Speaker 1: Pretty cool. Ibex Mercado raised four million dollars UM. And
Speaker 1: then another company that I'm extremely bullish on is Impervious. UM.
Speaker 1: Impervious is is amazing what they're doing. I'm gonna have
Speaker 1: the founder, Chase Uh, he's the founder of Purpose. I'm
Speaker 1: gonna have him on the radio show here maybe in
Speaker 1: the next couple of weeks. He's actually a local guy,
Speaker 1: but for me, super super good guy. But what they're
Speaker 1: doing is they basically took the They figured that I
Speaker 1: think I think the math was eighty percent of the
Speaker 1: time that a user spends on the on the I'm sorry,
Speaker 1: on the computer, about apercent of the time is spent
Speaker 1: in the browser. So like Google Chrome, right, and then
Speaker 1: you have Google Docs and Google Sheets, and you have
Speaker 1: you know, Facebook and Twitter, and so about adam the
Speaker 1: time spent in the browser. And so they decided to
Speaker 1: build a new browser. But instead of a browser that
Speaker 1: like Google owns, controls and spies on you and controls
Speaker 1: you with They opened up an open source one that's
Speaker 1: peer to peer. So Bitcoin is peer to peer. There's
Speaker 1: nobody in the middle between us and so they built
Speaker 1: a browser that has Zoom built in, but without Zoom,
Speaker 1: meaning that if we both have impervious browsers, we can
Speaker 1: just connect over video chat like Zoom, but it's peer
Speaker 1: to peer. There's nobody in between us, nobody, nobody that
Speaker 1: we need permission from nobody's spine. We have Google Docs,
Speaker 1: but without Google, so we just have docs that we
Speaker 1: can share. We can peer to peer. You and I
Speaker 1: can collaborate on docks just like Google Docs, but without Google.
Speaker 1: We have chat, but without Google Chat, we can go
Speaker 1: peer to peer, we can chat directly, and so that's
Speaker 1: all built into the Impervious browser. I believe it's being
Speaker 1: released right about now, I mean any day now. So
Speaker 1: that's really really cool. I'm super bullish on that. I mean,
Speaker 1: amazing things are coming out. It's happening so fast. Now.
Speaker 1: I'm old enough to have invested through the doc Colm
Speaker 1: Boom of the late nineties. It was just when I
Speaker 1: was just out of high school. Um, I was young,
Speaker 1: but I was old enough to know what was going on.
Speaker 1: I started an e commerce business in two thousand one,
Speaker 1: so I've seen this get built out. I recognize the
Speaker 1: same science happening over again. And while for a lot
Speaker 1: of you it maybe it seems like it's happening slow,
Speaker 1: I can tell you it's happening really, really fast. And
Speaker 1: I'm super excited. I'm super bullish on this. I mean,
Speaker 1: this is gonna be the biggest thing. It's going to
Speaker 1: change the world as we know it. Hopefully you're excited
Speaker 1: about it too, And uh, it's your chance to front
Speaker 1: run the majority of people who don't understand what is
Speaker 1: going on. The institutions, the sovereigns, they're still trying to
Speaker 1: figure out how they can get their piece of the
Speaker 1: bitcoin pie. But you can get yours right now. By
Speaker 1: the way, you're listening to the Mark mass Show, we're
Speaker 1: talking about bitcoin, we're talking about the cryptocurrency. We're talking
Speaker 1: about the decentralized revolution that is change in the world.
Speaker 1: I was just breaking down some of the behind the
Speaker 1: scenes stuff that I saw, the groundbreaking things I saw
Speaker 1: at the Bitcoin conference. Um, so you can understand. Remember,
Speaker 1: it's the growth of the network on users and the
Speaker 1: development on the network that's the most important and the
Speaker 1: development is strong. Hopefully that makes sense and appreciate your
Speaker 1: listening until next time.