WEBVTT - The Mark Moss Show - Tech to Change the Course of Humanity 0:00:00.000 --> 0:00:02.760 All right, welcome back. You are listening to another episode 0:00:02.759 --> 0:00:05.840 of The Markmas Show where we talk about bitcoin, cryptocurrencies 0:00:05.880 --> 0:00:10.200 and the decentralized revolution that is changing the world as 0:00:10.240 --> 0:00:12.760 we live in it. We're building the plane and we're 0:00:12.760 --> 0:00:15.720 flying at the same time, so to speak, Uh, pretty amazing. 0:00:15.760 --> 0:00:19.520 What's happening you know? UM, talking a lot about bitcoin, 0:00:19.560 --> 0:00:21.639 as I talk about many times, how the prices some 0:00:21.680 --> 0:00:26.360 of the least um interesting stuff to talk about unless 0:00:26.360 --> 0:00:28.680 you're a trader, which I don't recommend. Just buy and 0:00:28.720 --> 0:00:31.160 hold it, man, go focus on the rest of your life. Um. 0:00:31.240 --> 0:00:33.320 And so if we're just going to buy and hold it, 0:00:33.320 --> 0:00:35.040 then what we want to be focusing on is, as 0:00:35.080 --> 0:00:36.960 I say, the growth of the network. That's the amount 0:00:36.960 --> 0:00:40.200 of users there, the mind share there, and I've talked 0:00:40.200 --> 0:00:41.680 about a lot about that, and then we want to 0:00:41.720 --> 0:00:45.400 focus on the development that's happening on it. UM. On 0:00:45.440 --> 0:00:48.800 the previous segment, I talked about volatility, the price going 0:00:48.880 --> 0:00:51.720 up and down. Is is the difference of perception and reality, 0:00:52.120 --> 0:00:55.080 and so the reality is it's the progress of bitcoin 0:00:55.160 --> 0:00:58.160 is moving like at a forty five degree angle up. Um. 0:00:58.240 --> 0:01:00.680 So we're getting more users, were developed, been more things 0:01:00.960 --> 0:01:03.120 we're sucking in more mind share. That's the reality. The 0:01:03.160 --> 0:01:06.640 perception gets oversold and over bought and oversold and overbob. 0:01:07.360 --> 0:01:08.600 And so some of the things I like to focus 0:01:08.600 --> 0:01:10.119 on are those two things, the growth of the network 0:01:10.160 --> 0:01:13.679 and the development. And last week I was talking about 0:01:13.800 --> 0:01:16.160 how I had just gotten back from Miami and I 0:01:16.240 --> 0:01:20.679 was there for the bitcoino conference. It was amazing, and 0:01:20.840 --> 0:01:22.240 I talked a little bit about it, but I didn't 0:01:22.280 --> 0:01:23.920 get in super deep because I didn't really have time 0:01:23.959 --> 0:01:27.080 to digest it and and go through all my notes 0:01:27.160 --> 0:01:29.080 and and all that stuff. And so I wanted to 0:01:29.959 --> 0:01:32.240 digging deep into some of the stuff that I came 0:01:32.280 --> 0:01:34.480 back with because while I was there, I was able 0:01:34.520 --> 0:01:38.080 to have some amazing conversations and really look at the 0:01:38.160 --> 0:01:40.800 growth of the or that I should say, the development 0:01:40.880 --> 0:01:43.880 happening on the network, and it's amazing what's going As 0:01:43.880 --> 0:01:46.760 a matter of fact, there's been a new development on 0:01:46.880 --> 0:01:53.280 bitcoin that just completely will blow you away. I'm gonna 0:01:53.280 --> 0:01:56.520 say something that's really big and you may not agree 0:01:56.560 --> 0:01:59.040 with it, or you may not like it, but it 0:01:59.040 --> 0:02:03.040 doesn't change the real vality. But what's happening on bitcoin, well, 0:02:03.080 --> 0:02:04.960 as I've said, it's going to change the course of humanity. 0:02:04.960 --> 0:02:08.520 But what just happened, and I've been saying this for 0:02:08.520 --> 0:02:13.760 a long time, I'm I'm choosing my words carefully here. UM, 0:02:13.800 --> 0:02:16.440 I think that all the cryptocurrencies are let's say that 0:02:16.520 --> 0:02:20.440 almost all the cryptocurrencies, the other fifteen thousand of them, 0:02:20.440 --> 0:02:24.960 will eventually be built on top of bitcoin. UM. And 0:02:25.040 --> 0:02:28.000 that's exactly what we have seen. There's new technology has 0:02:28.000 --> 0:02:29.760 been released that I think is going to speed that up. 0:02:29.760 --> 0:02:31.720 It's gonna be pretty amazing. It's gonna be interesting to watch, 0:02:31.720 --> 0:02:33.520 and we're gonna have to see UM and you're gonna 0:02:33.560 --> 0:02:35.919 say the mark, You're an idiot, you're stupid, you're you're 0:02:35.960 --> 0:02:38.240 a MAXI whatever, And that's fine. We can all have 0:02:38.240 --> 0:02:40.919 different opinions and neither of us know the future. But 0:02:41.040 --> 0:02:42.800 either way, you want to know what's going on here. 0:02:42.800 --> 0:02:45.280 It's pretty amazing. So let's talk about that a little bit. 0:02:45.639 --> 0:02:47.280 So UM again. I was I was there at the 0:02:47.280 --> 0:02:49.320 Bitcoin conference. UM. I was a speaker. I was a 0:02:49.320 --> 0:02:51.320 speaker on the main stage. I worked the news desk 0:02:51.320 --> 0:02:52.919 for a couple of days. And the reason why I 0:02:52.919 --> 0:02:55.359 tell you that is because it gave me access. It 0:02:55.440 --> 0:02:58.800 gave me access backstage to all the inside stuff. It 0:02:58.800 --> 0:03:00.639 gave me access to all this speakers, It gave me 0:03:00.680 --> 0:03:02.760 access to all the developers, and I got to have 0:03:02.880 --> 0:03:06.800 some very interesting conversations there. Now, just talking about the 0:03:06.800 --> 0:03:08.840 growth of the network for a minute. UM in two 0:03:08.880 --> 0:03:12.640 thousand nineteen there was about fifteen hundred attendees, or maybe 0:03:12.720 --> 0:03:15.919 less than two thousand. They didn't have it in because 0:03:15.919 --> 0:03:18.880 you know COVID, but but one it had gone from 0:03:19.000 --> 0:03:23.200 less than two thousand to just over ten thousand CLO's 0:03:23.200 --> 0:03:26.000 called two thousand and ten thousand and five x UM 0:03:26.040 --> 0:03:30.960 and then we went from ten thousand to thirty five thousand, 0:03:31.080 --> 0:03:35.920 called thirty thousand. That's a three x. That's insane to 0:03:36.000 --> 0:03:38.200 have that kind of growth. And what that tells you 0:03:38.600 --> 0:03:41.600 is the growth of the network, right, that's the amount 0:03:41.640 --> 0:03:44.040 of people that are coming in. That's how fast this 0:03:44.240 --> 0:03:47.200 is growing. That's the reality. The price will catch up. 0:03:47.240 --> 0:03:49.200 The price will catch up. This reality. I do want 0:03:49.200 --> 0:03:52.120 to say that to about thirty five thousand attendees UM. 0:03:52.280 --> 0:03:55.600 The they put out a report showing exactly what went 0:03:55.640 --> 0:03:58.400 into producing this event, and they reported to have spent 0:03:58.560 --> 0:04:02.640 over thirty million million dollars in production costs, which is amazing. 0:04:03.000 --> 0:04:04.800 I say that because I saw a lot of people 0:04:05.120 --> 0:04:07.400 UM in the space going. I can't believe they charge 0:04:07.440 --> 0:04:10.360 so much for a ticket. They should make these events free. 0:04:10.920 --> 0:04:13.400 And it's like, I mean, man, it costs money to 0:04:13.400 --> 0:04:16.120 put these events on. It costs thirty million dollars. It's 0:04:16.120 --> 0:04:19.159 about it about a thousand bucks per person to put 0:04:19.240 --> 0:04:22.960 this event on. So I thought that was pretty interesting 0:04:23.000 --> 0:04:25.520 that they shared that, and I appreciate that. And I 0:04:25.560 --> 0:04:27.520 can tell you that I've been running my own event, which, 0:04:27.600 --> 0:04:30.080 by the way, I have my second annual event coming up. 0:04:30.120 --> 0:04:32.760 It's called Market Disruptors Live. If you want to learn 0:04:32.760 --> 0:04:35.400 how to build, grow and protect your wealth UM in 0:04:35.440 --> 0:04:38.960 the in this decentralized revolution that we're living through right now, 0:04:39.040 --> 0:04:41.680 then you do not want to miss Market Disruptors Live 0:04:41.760 --> 0:04:44.280 dot com. It's coming up next month. And I can 0:04:44.320 --> 0:04:46.280 tell you my numbers are about the same. I mean, 0:04:46.320 --> 0:04:49.240 it costs about a thousand dollars per person to throw 0:04:49.279 --> 0:04:51.159 the event. That's what that's what that's what the Bitcoin 0:04:51.200 --> 0:04:54.799 conference costs UM about about a thousand dollars per person, 0:04:54.839 --> 0:04:57.000 and that's that's about what it costs. So I just 0:04:57.040 --> 0:05:00.200 thought i'd share that's pretty interesting. UM but anyway, UM, 0:05:00.240 --> 0:05:02.200 some of the stuff that I saw, so some of 0:05:02.200 --> 0:05:03.520 the stuff. So a lot of times people think that 0:05:03.560 --> 0:05:06.159 bitcoin is like old technology. It's like Facebook. I'm sorry, 0:05:06.160 --> 0:05:07.960 it looks like my Space and we'll have a Facebook 0:05:07.960 --> 0:05:12.479 there or something like that. Bitcoin's old, slow and clunky bitcoin, 0:05:12.800 --> 0:05:17.280 Bitcoin is too slow to transfer value. UM. Peter Theol, um, 0:05:17.640 --> 0:05:20.599 if you recognize that name. Peter theol was the the 0:05:20.640 --> 0:05:24.880 original founder of PayPal. UM. He started PayPal to change 0:05:24.960 --> 0:05:27.000 the financial system. He thought he could change the federal 0:05:27.040 --> 0:05:32.880 reserve system. And uh, he's prolific tech tech investor, UM, 0:05:32.920 --> 0:05:36.480 amazingly smart. I mean he's forgotten more than I'll ever know. Uh, 0:05:36.600 --> 0:05:38.800 he's he's amazingly smart. So not trying to put it 0:05:38.880 --> 0:05:41.600 against him. But he spoke at the Bitcoin conference and 0:05:41.640 --> 0:05:43.600 I and I was a little bit, Uh, I was 0:05:43.600 --> 0:05:46.480 a little taken back by his presentation because it showed 0:05:46.520 --> 0:05:49.760 like this, um, this whole in his thinking, like he 0:05:49.800 --> 0:05:54.279 had to this. He was missing something And I don't know, 0:05:54.360 --> 0:05:55.880 Am I that smart that I can see it and 0:05:55.960 --> 0:05:58.560 he doesn't, And so kind of surprised me. And as 0:05:58.600 --> 0:06:00.679 it turned out, I was invited to the private event 0:06:00.800 --> 0:06:05.360 on just a couple of days ago, another friend, Alex Epstein, 0:06:05.520 --> 0:06:08.960 just wrote a book called the Fossil Fuels. He previously 0:06:09.000 --> 0:06:11.359 wrote a book called The Case for Fossil Fuels, and 0:06:11.400 --> 0:06:13.760 now his new books called Fossil Future. And if you've 0:06:14.000 --> 0:06:16.600 can guess by the titles, it's about why we need 0:06:17.480 --> 0:06:20.800 more more abundant, cheap energy, why the world needs that 0:06:21.480 --> 0:06:24.839 um And so anyway, he had this book released party 0:06:25.000 --> 0:06:27.080 in Newport Beach and I got to go to that. 0:06:27.200 --> 0:06:30.080 Luckily I was invited, and Peter Thiel was there and 0:06:30.160 --> 0:06:32.080 he was actually one of the co presenters and it 0:06:32.120 --> 0:06:34.080 was just a small event, fifty people something like that. 0:06:34.160 --> 0:06:35.880 So I got a chance to go talk to Peter 0:06:35.920 --> 0:06:38.120 theele and I said, hey, Peter, you know, I caught 0:06:38.160 --> 0:06:40.920 your presentation. I really liked it. I thought it was 0:06:40.960 --> 0:06:43.760 really good. But I think there was something you might 0:06:43.760 --> 0:06:45.320 have been missing, and I just I just like to 0:06:45.360 --> 0:06:47.640 ask you about it. And uh, I said, you said 0:06:47.640 --> 0:06:49.760 that you know, bitcoin is good for a store of value, 0:06:50.240 --> 0:06:53.240 but then you need something like ethereum to have velocity 0:06:53.320 --> 0:06:55.240 in order to get the speed that you need. Well, 0:06:55.279 --> 0:06:57.840 first of all, um, ethereum has about the same slow 0:06:57.880 --> 0:07:00.720 transaction time as bitcoin. But I said what's your what's your? What? 0:07:00.720 --> 0:07:03.039 What you what I think you're missing? I'm trying to 0:07:03.040 --> 0:07:05.640 say it's very respectfully. What I think you're missing is 0:07:05.680 --> 0:07:08.600 that Bitcoin is both. Bitcoin is both the store value 0:07:08.760 --> 0:07:12.480 and using Layer two applications like Lightning, I can send 0:07:12.480 --> 0:07:16.920 bitcoin faster and cheaper than any other cryptocurrency that's out there. 0:07:17.200 --> 0:07:19.400 I can send it faster than Visa, I can send 0:07:19.400 --> 0:07:24.640 it faster than anything. And he's like, well, I didn't know. 0:07:24.880 --> 0:07:27.160 I'm not really that caught up on Lightning. He said, 0:07:27.240 --> 0:07:29.440 if it works like you say it does, that would 0:07:29.440 --> 0:07:32.080 be amazing. I said, well it does. I've been to 0:07:32.120 --> 0:07:35.160 El Salvador many times. I've used it over and over. 0:07:35.200 --> 0:07:36.880 I've used Lightning, and I can tell you that I 0:07:36.960 --> 0:07:40.440 can send bitcoin over the Lightning network faster than Mike, 0:07:40.560 --> 0:07:42.880 than than the point of sale credit card terminal can 0:07:42.920 --> 0:07:46.360 even dial in and run the credit card transaction. And 0:07:46.400 --> 0:07:48.040 he's like, well, I guess, I guess I have to 0:07:48.040 --> 0:07:50.200 look more into that. And so the reason why I 0:07:50.200 --> 0:07:53.480 tell you that story is because, um, I'm talking about 0:07:53.560 --> 0:07:56.720 Lightning specifically. So Lightning is an application that's built on 0:07:56.880 --> 0:07:59.480 top of the Bitcoin network that allows it to do 0:07:59.520 --> 0:08:02.080 a lot of other Apple, lots of other applications, lots 0:08:02.080 --> 0:08:05.360 of other things that there the base blockchain layer of 0:08:05.360 --> 0:08:08.920 bitcoin blockchain cannot do. A lot of people don't know this, 0:08:09.280 --> 0:08:11.280 and I want to tell even Peter Field didn't know this, 0:08:11.680 --> 0:08:13.760 and this is what most people are missing and you 0:08:13.760 --> 0:08:17.000 need to understand this. So UM Lightning Labs is a 0:08:17.040 --> 0:08:20.880 company that builds out this hardware. Now they introduce something 0:08:21.040 --> 0:08:24.600 that's so big and so massive, it's literally going to 0:08:24.720 --> 0:08:27.040 change the world. And I don't mean that. I don't 0:08:27.040 --> 0:08:28.800 mean that lightly, and I want to tell you what 0:08:28.840 --> 0:08:30.600 they're doing. They raised a bunch of money, but I 0:08:30.640 --> 0:08:34.120 want to tell you about a new release UM and 0:08:34.200 --> 0:08:36.839 what it's gonna do. I'm gonna explain that, and then 0:08:36.880 --> 0:08:39.320 we'll take a look and see how that can change 0:08:39.360 --> 0:08:46.440 stable coins defy n f T. I mean, what what 0:08:46.480 --> 0:08:47.800 this is gonna change. I' gonna tell you about some 0:08:47.800 --> 0:08:50.479 of the other announcements of of some of the developers 0:08:50.520 --> 0:08:53.079 that I was there with because I got the inside 0:08:53.080 --> 0:08:54.319 scoop and I want to give it to you. That's 0:08:54.320 --> 0:08:56.280 the benefit of you getting the tune and listen to me. 0:08:56.320 --> 0:08:58.080 By the way, you're listening to the Mark Moa show 0:08:58.520 --> 0:09:02.599 and we're talking about bitcoin and cryptocurrencies and the decentralized revolution, 0:09:03.080 --> 0:09:06.480 talking about how it's changing the world right before our 0:09:06.600 --> 0:09:10.840 very eyes. And UM, some people, even some of the 0:09:10.880 --> 0:09:13.920 smartest people in the world, like Peter feel are missing it. UM. 0:09:13.920 --> 0:09:17.360 Not because not because they don't understand it. It's just 0:09:17.480 --> 0:09:19.480 you have to spend a lot of time studying this stuff, 0:09:19.480 --> 0:09:21.800 and I do, and I get to talk to these people, 0:09:21.800 --> 0:09:23.520 and so I want to share with you. You don't 0:09:23.559 --> 0:09:25.200 want to miss it. You don't want to miss what's 0:09:25.200 --> 0:09:29.120 going on. Could miss the biggest investment opportunity of your life. 0:09:29.440 --> 0:09:31.719 You're listening to the Markma Show talking about bitcoin and 0:09:31.760 --> 0:09:33.760 the decentralized revolution. I'm gonna be right back with more. 0:09:33.920 --> 0:09:36.240 Don't go away, all right, Welcome back. You are listening 0:09:36.280 --> 0:09:38.559 to the Markma Show. We're talking about bitcoin, We're talking 0:09:38.600 --> 0:09:43.200 about cryptocurrencies. We're talking about the decentralized revolution. UM talking 0:09:43.240 --> 0:09:46.960 about the intersection, as I say, the intersection of politics, finance, 0:09:47.040 --> 0:09:50.000 and technology where all three of them are converging at 0:09:50.000 --> 0:09:52.920 the same time. Before the break, I was talking about 0:09:53.240 --> 0:09:56.720 UM being an insider at the Bitcoin conference, UM, the 0:09:56.800 --> 0:09:58.760 growth of the conference, the amount of people that are there, 0:09:58.760 --> 0:10:00.400 because I was a speaker on the main stays are 0:10:00.400 --> 0:10:02.160 at access to the backstage, and I gotta hang out 0:10:02.160 --> 0:10:04.319 with the developers and the and the investors, and I 0:10:04.360 --> 0:10:06.400 gotta get the inside scoop. And I talked about it 0:10:06.480 --> 0:10:08.480 last week, but I didn't really get to digest all 0:10:08.480 --> 0:10:10.439 my notes and gets prepared for you, and so I 0:10:10.520 --> 0:10:11.840 kind of want to come back and tell you about 0:10:11.880 --> 0:10:14.640 some of this stuff. And so before the break, I 0:10:14.679 --> 0:10:17.320 was just talking about Peter Thiel and his presentation there 0:10:17.679 --> 0:10:19.160 and how I got a chance to actually talk to 0:10:19.200 --> 0:10:21.360 him a couple of days ago and how he kind 0:10:21.360 --> 0:10:23.040 of missed this and maybe you are too, and so 0:10:23.440 --> 0:10:26.240 um bitcoin, Well, the way technology works, as scales and 0:10:26.360 --> 0:10:29.160 layers and so, like gold is like a base settlement layer. 0:10:29.160 --> 0:10:30.959 If I hold gold, nobody else has gold. If I 0:10:31.000 --> 0:10:32.880 hand it to you, now you have the gold. But 0:10:32.920 --> 0:10:36.920 in order to get velocity, in order to move that faster, UM, 0:10:36.920 --> 0:10:38.520 I put the gold in a bank and then they 0:10:38.559 --> 0:10:40.400 gave me a paper goalstificate and now I can move 0:10:40.440 --> 0:10:42.520 paper goal stick. It's very fast. So that was a 0:10:42.600 --> 0:10:45.640 layer two. It's not final settlement. Um. In order to 0:10:45.640 --> 0:10:47.400 get the final settlement, i'd stuff to take that paper 0:10:47.400 --> 0:10:48.960 goalstificate and take it back to the bank and then 0:10:48.960 --> 0:10:51.320 I can get the gold UM and and that's sort 0:10:51.320 --> 0:10:53.760 of what the Internet has done as well. And so 0:10:53.840 --> 0:10:55.760 we have the Internet, which is this tc P i 0:10:55.800 --> 0:10:58.959 P protocol, and then if we want things like email, 0:10:59.080 --> 0:11:01.800 we scale on top of at SMTP. We want security, 0:11:01.840 --> 0:11:04.440 it's a GTPs and so bitcoin is also similar. So 0:11:04.440 --> 0:11:06.800 we have this base settlement layer, and then on layer 0:11:06.800 --> 0:11:09.720 two there's a few different Layer two applications and they're 0:11:09.720 --> 0:11:11.480 able to make trade offs and so they can be 0:11:11.600 --> 0:11:16.040 faster or more private or something like that, or cheaper um, 0:11:16.080 --> 0:11:18.720 but they're not final settlement their second layer. But it's 0:11:18.720 --> 0:11:21.120 still moving in the same asset. And so we have Lightning, 0:11:21.720 --> 0:11:24.120 we have Liquid, we have r s K, we have 0:11:24.160 --> 0:11:26.040 a we have a couple of these, but Lightning Labs 0:11:26.080 --> 0:11:27.440 is the big one. Lightning is the big one. And 0:11:27.440 --> 0:11:30.760 they announced a seventy million that's right, seven zero seventy 0:11:30.760 --> 0:11:34.680 million zero series we capital raise. UM, so I have 0:11:34.679 --> 0:11:35.920 a lot of money to go do a lot of things, 0:11:35.960 --> 0:11:39.280 which is cool. And this is important for a couple 0:11:39.280 --> 0:11:42.640 of reasons. Um. You hear a lot about fifteen thousand cryptocurrencies, 0:11:42.640 --> 0:11:44.679 and the reason why is anyone who starts a cryptocurrency 0:11:44.760 --> 0:11:48.320 can literally print themselves money. You can go start a 0:11:48.320 --> 0:11:52.360 new cryptocurrency call it marks coin, and I can go say, 0:11:52.400 --> 0:11:54.520 I'm gonna have a hundred million coins, and I can 0:11:54.559 --> 0:11:58.360 get uh, I can get these vcs to UM give me, 0:11:58.559 --> 0:12:01.720 you know, money, and I'm gonna sell them of mark 0:12:01.760 --> 0:12:04.360 coin and I'm gonna keep six from myself. And they 0:12:04.480 --> 0:12:07.280 these vcs love that deal because they just we're able 0:12:07.320 --> 0:12:09.280 to buy printed money. They buy them for me for 0:12:09.520 --> 0:12:11.320 three cents a piece, and they turn around a sound 0:12:11.360 --> 0:12:14.200 for three bucks a piece. Right, And so that's easy. 0:12:14.400 --> 0:12:17.040 You can just go prench yourself bucks. But to build 0:12:17.040 --> 0:12:19.880 on bitcoin, you have to go meet with real investors. 0:12:20.679 --> 0:12:22.520 They have to give you real money, and they want 0:12:22.520 --> 0:12:24.880 to invest into real companies that are building real products. 0:12:25.040 --> 0:12:27.199 You can't just print money for free. You can't create 0:12:27.280 --> 0:12:30.080 more bitcoin. And so for Lightning Labs, for any bitcoin 0:12:30.120 --> 0:12:33.080 company to raise money, it's a way bigger deal than 0:12:33.120 --> 0:12:35.920 for a crypto company who just printed that money. So 0:12:36.040 --> 0:12:38.480 Lightning Labs to raise seventy million dollars a really big deal. 0:12:38.880 --> 0:12:41.320 But most importantly, UM what they're using with it. And 0:12:41.559 --> 0:12:44.440 they announced the new specification called Taro t A r 0:12:44.440 --> 0:12:50.040 oh and if successful, it will allow multiple asset types 0:12:50.080 --> 0:12:54.720 to be issued on the Bitcoin Lightning network. All right, now, 0:12:54.840 --> 0:12:58.200 this is a big deal. What does that mean? Well, 0:12:58.520 --> 0:13:01.959 the most notable feature will be probably for stable coins. 0:13:02.120 --> 0:13:04.880 So stable coins are coins that are pegged to a dollar. 0:13:05.280 --> 0:13:08.199 Right there, they're getting very prolific. Um. I put a 0:13:08.240 --> 0:13:10.600 dollar in um in you give me a dollar stable coin, 0:13:10.800 --> 0:13:12.719 and the stable means it's always pegged to a dollar. 0:13:12.760 --> 0:13:15.520 It's always worth one dollar. Um. Not that the dollar 0:13:15.600 --> 0:13:18.040 is very stable, but it's always worth one dollar. And 0:13:18.080 --> 0:13:19.800 then I can move those dollars around the world very 0:13:19.840 --> 0:13:23.880 quickly like a cryptocurrency. And so um we can now 0:13:24.160 --> 0:13:25.880 um with this tar update will be able to use 0:13:26.120 --> 0:13:29.079 use it for stable coins, and it will send stable 0:13:29.120 --> 0:13:33.600 coins instantly and nearly for free. Now right now, if 0:13:33.600 --> 0:13:36.040 you're trying to do them over ethereum uh, it could 0:13:36.040 --> 0:13:38.880 cost you thirts to send that transaction. It takes a 0:13:38.920 --> 0:13:41.880 long time. But if I do it over lightning, over 0:13:41.880 --> 0:13:44.800 the Bitcoin network over Lightning, it can be done instant 0:13:45.320 --> 0:13:49.800 and nearly for free. It could also technically be used 0:13:49.840 --> 0:13:52.439 for n f t s. That's right, n f t 0:13:52.640 --> 0:13:57.480 S or wrapped versions of other blockchain tokens. So right now, 0:13:57.640 --> 0:14:00.480 like Atherorium for example, you could do like a wrapped Bitcoin. 0:14:00.840 --> 0:14:02.480 But now on this you might be able to do 0:14:02.480 --> 0:14:05.800 a rapt ethereum on Bitcoin or any other security for 0:14:05.840 --> 0:14:07.959 that matter. Security wh would be like stocks, like a 0:14:07.960 --> 0:14:11.400 share of Tesla or Apple something like that. The way 0:14:11.440 --> 0:14:15.320 it work in practice is basically UM. Anybody with a 0:14:15.320 --> 0:14:18.280 mobile lightning wallet, which if you have a Bitcoin wallet 0:14:18.280 --> 0:14:21.120 downloaded on your phone, it probably supports Lightning. If it doesn't, 0:14:21.400 --> 0:14:23.240 get rid of it, get another one, but like blue 0:14:23.240 --> 0:14:26.880 wallet or wallet of Toshi like those do UM. And 0:14:26.920 --> 0:14:29.040 so I'd have a wallet with Lightning wallet, I'd have 0:14:29.040 --> 0:14:31.280 a Bitcoin balance as well as a balance for usd 0:14:31.360 --> 0:14:33.640 stable coins in it. So I'd have Bitcoin, and I'd 0:14:33.640 --> 0:14:36.760 have US dollars basically in there, and any other assets 0:14:36.800 --> 0:14:39.440 I might be holding. I could also have UM shares 0:14:39.520 --> 0:14:43.000 of an apartment complex or a hotel chain or UM 0:14:43.120 --> 0:14:45.800 Apple or Tesla stock, right, and then I could send 0:14:45.800 --> 0:14:50.520 those assets around very easily over the Lightning network. So 0:14:50.760 --> 0:14:52.680 it could be U S dollars on stable coins, it 0:14:52.680 --> 0:14:54.720 could be shares of this hotel, and I could send 0:14:54.720 --> 0:14:59.080 those assets instantly and for free. An excerpt from Lightning 0:14:59.160 --> 0:15:02.520 Labs to erectly from them says that the new tap 0:15:02.600 --> 0:15:05.360 Root powered protocol for issuing assets on the Bitcoin blockchain 0:15:05.360 --> 0:15:08.160 that could be transferred over the Lightning network for instant, 0:15:08.440 --> 0:15:12.680 high volume, low fee transactions. At its core, Taro taps 0:15:12.720 --> 0:15:15.880 into the security and stability of the Bitcoin network and 0:15:15.960 --> 0:15:19.160 the speed, scalability and low fees of the Lightning network. 0:15:19.160 --> 0:15:22.160 And so this is what people are missing. Bitcoin is 0:15:22.320 --> 0:15:26.240 the most secure, most essentialized network period. Nothing comes close 0:15:26.320 --> 0:15:28.440 to that at all period. There's just there's just no 0:15:28.520 --> 0:15:31.240 argument that nobody can make an argument for them. However, 0:15:31.280 --> 0:15:33.440 people would argue, but it's too slow, and so we 0:15:33.480 --> 0:15:36.080 need something else to be faster. But when you put 0:15:36.120 --> 0:15:39.200 when you use Lightning and Bitcoin together, you get both. 0:15:39.560 --> 0:15:44.240 You get um the most secure network and you get instant, 0:15:44.320 --> 0:15:49.000 high volume, low fee transactions at the same time. UM 0:15:49.040 --> 0:15:55.000 And that's the That's a big deal, um It, says uh. 0:15:55.160 --> 0:15:58.600 Taproo says Taro is conceptually similar to clark Coins. Um 0:15:58.640 --> 0:16:01.720 it improves privacy and scale ay Assets issued on Taro 0:16:01.800 --> 0:16:04.480 can be deposited into Lightning network channels, where nodes can 0:16:04.480 --> 0:16:07.480 offer atomic conversion from Bitcoin to Tara assets. So basically 0:16:07.480 --> 0:16:09.600 what it's saying is I use this bitcoin wallet that 0:16:09.720 --> 0:16:13.640 supports lightning, and inside the wallet, I don't need to 0:16:13.640 --> 0:16:17.920 an exchange. It could automatically convert the assets, so I 0:16:17.920 --> 0:16:20.400 don't need to exchange and I could just convert it, 0:16:20.440 --> 0:16:22.000 which is pretty cool because an exchange, I have to 0:16:22.040 --> 0:16:24.360 find somebody else wanted to be through the exchange with me, 0:16:24.840 --> 0:16:28.320 and so um and it allows things to inter operate, 0:16:28.720 --> 0:16:32.760 so any asset, a security, a stock, whatever, um built 0:16:32.840 --> 0:16:36.640 on Taro would be interoperably able to work together with this, 0:16:37.760 --> 0:16:41.400 which is pretty cool. Says participants on Taro transfer bear 0:16:41.440 --> 0:16:44.280 the costs of verification and storage by story and Taro. 0:16:44.680 --> 0:16:47.840 That's a little bit technical stuff, but the summary is basically, 0:16:47.880 --> 0:16:50.960 it allows assets to be issued on the bitcoin block chain. 0:16:51.000 --> 0:16:53.920 So now assets so shares of Apple or Tesla, shares 0:16:53.960 --> 0:16:57.560 of a hotel chain, or stable coins on the bitcoin 0:16:57.600 --> 0:17:02.000 block chain. It leverages tap root privacy and scalability. So 0:17:02.000 --> 0:17:04.240 a lot of people like, well, um, bitcoin is not 0:17:04.280 --> 0:17:06.639 good because it's not it's not private. That's why I 0:17:06.680 --> 0:17:09.480 need x y Z privacy coin or pirate pirate coin 0:17:09.640 --> 0:17:12.720 or mow narrow. Well, if we use if we leverage 0:17:12.720 --> 0:17:15.200 tap root, we can have privacy and scalability. It says 0:17:15.240 --> 0:17:18.199 assets can be deposited into lightning channels. UM. Assets can 0:17:18.240 --> 0:17:20.920 be transferred over the existing lightning network and so UM again, 0:17:21.040 --> 0:17:23.560 I can send bitcoin either on the main chain, which 0:17:23.600 --> 0:17:26.720 is slow and expensive. I mean when I say slow 0:17:26.720 --> 0:17:29.359 and expensive, I could send a billion dollars a bitcoin 0:17:29.440 --> 0:17:32.600 if I had a billion UM for you know, maybe 0:17:32.600 --> 0:17:36.920 a dollar in uh, you know, twenty minutes, fifteen minutes. UM. 0:17:36.960 --> 0:17:38.960 That's slow and expensive, faster than I could drive to 0:17:39.000 --> 0:17:41.400 the bank. Can do a wire transfer, um. But over 0:17:41.440 --> 0:17:45.320 the lightning network, it's literally instant. And I'm sending bitcoin, 0:17:45.520 --> 0:17:49.160 but it's over this network, UM, and so it's pretty 0:17:49.160 --> 0:17:52.120 amazing what it's gonna do. UM. It's a very light 0:17:52.240 --> 0:17:55.360 client friendly and so what does that mean? So bitcoin 0:17:55.440 --> 0:17:57.480 has kept these small blocks which allows it to be 0:17:57.520 --> 0:17:59.280 a very low client and so you can do it 0:17:59.320 --> 0:18:02.640 over phone is, over mesh networks, things like that. UM. 0:18:02.680 --> 0:18:05.280 But I want to tell you about what this can 0:18:05.440 --> 0:18:08.359 actually do in the future. So I want a future 0:18:08.440 --> 0:18:10.679 castes so you can understand a little bit. It might 0:18:10.720 --> 0:18:12.159 be a little bit in the weeds for you. Right now. 0:18:12.200 --> 0:18:13.840 What I want to make it make sense. You're listening 0:18:13.840 --> 0:18:16.919 to the Markma Show talking about bitcoin, talking about cryptocurrency, 0:18:16.960 --> 0:18:19.240 is talking about the rede centralized revolution. I'll be right back, 0:18:19.720 --> 0:18:21.960 all right, welcome back. You are listening to the Markma Show. 0:18:21.960 --> 0:18:24.560 We're talking about bitcoin, We're talking about cryptocurrencies. We are 0:18:24.600 --> 0:18:29.200 talking about the decentralized revolution that's happening, and I'm narrating 0:18:29.200 --> 0:18:30.520 it for you. I'm trying to give you the play 0:18:30.600 --> 0:18:34.280 by pay so you can get in before the masses. 0:18:34.320 --> 0:18:36.840 Like we say, everybody will buy at the price they deserve, 0:18:37.400 --> 0:18:40.320 and I think you deserve to get in at a 0:18:40.359 --> 0:18:42.440 good low price, like right now today, And of course 0:18:42.440 --> 0:18:45.040 you need the information to do that. Um, I'm I'm 0:18:45.080 --> 0:18:48.280 talking about my experience at the Bitcoin conference. I know 0:18:48.359 --> 0:18:49.960 I covered it a little bit last week, but I 0:18:50.000 --> 0:18:53.120 kind of gave you just a quick overview. I hadn't 0:18:53.119 --> 0:18:54.800 really had time to go back and look review my 0:18:54.880 --> 0:18:57.360 notes and have some follow up conversations to really dig 0:18:57.359 --> 0:18:59.160 into some of the stuff. And since I was there 0:18:59.160 --> 0:19:01.800 and I was an insider, I gotta have access to 0:19:01.840 --> 0:19:04.119 conversations that most people didn't. I wanted to kind of 0:19:04.160 --> 0:19:06.119 explain some of this to you, and so, UM, the 0:19:06.119 --> 0:19:09.920 biggest announcement that was made was Lightning Labs coming out 0:19:09.920 --> 0:19:12.439 with this taro, and so I was explaining that to 0:19:12.480 --> 0:19:16.040 you just before the break. If you've missed it so far, UM, 0:19:16.080 --> 0:19:18.080