1 00:00:00,080 --> 00:00:02,440 Speaker 1: Hello, and welcome to the Mark Moss Show. We are 2 00:00:02,480 --> 00:00:05,680 Speaker 1: talking about the decentralized revolution. Of course, we're talking about 3 00:00:05,680 --> 00:00:08,880 Speaker 1: bitcoin cryptocurrencies. We're looking at through the lens of the 4 00:00:08,920 --> 00:00:12,360 Speaker 1: world today. We're looking at politics, finance, technology and seeing 5 00:00:12,440 --> 00:00:16,840 Speaker 1: how it's all making sense. And when we look at 6 00:00:16,880 --> 00:00:19,200 Speaker 1: the world through that lens, we can all agree that 7 00:00:19,320 --> 00:00:22,159 Speaker 1: it is a wild, never a dull moment, which is 8 00:00:22,160 --> 00:00:24,040 Speaker 1: good for people like me who sit here and try 9 00:00:24,079 --> 00:00:26,400 Speaker 1: to talk for hours and hours, because it gives me 10 00:00:26,600 --> 00:00:29,280 Speaker 1: plenty of stuff to talk about. There's a quote that 11 00:00:29,320 --> 00:00:32,080 Speaker 1: I often use because every day I'm reminded of how 12 00:00:32,120 --> 00:00:34,120 Speaker 1: real it is. And it's by somebody who I shouldn't 13 00:00:34,120 --> 00:00:40,120 Speaker 1: be quoting, but Vladimir Lenin from Russian history, who was infamously, 14 00:00:40,600 --> 00:00:43,279 Speaker 1: you know, a bad ruler. Let's just let's just leave 15 00:00:43,280 --> 00:00:45,800 Speaker 1: it at that, um, But he said that there's decades 16 00:00:45,800 --> 00:00:48,200 Speaker 1: where nothing seems to happen, and then there's days where 17 00:00:48,360 --> 00:00:50,520 Speaker 1: decades seem to happen. And that's about where we're at. 18 00:00:51,280 --> 00:00:54,400 Speaker 1: And Uh, in the financial market, it's the fed um 19 00:00:54,480 --> 00:00:57,320 Speaker 1: raising rates again this week. Um. You know, how high 20 00:00:57,320 --> 00:00:59,280 Speaker 1: will they continue to raise rates? The markets are crashing? 21 00:00:59,320 --> 00:01:01,640 Speaker 1: How will they how far will they continue to crash? Um, 22 00:01:01,640 --> 00:01:04,680 Speaker 1: the cryptocurrencies are marketing markets are melting down, Will they 23 00:01:04,720 --> 00:01:07,080 Speaker 1: disappear forever? Will they still be there in the future? 24 00:01:07,120 --> 00:01:08,360 Speaker 1: Is now a time to buy the dipper? And I 25 00:01:08,440 --> 00:01:10,360 Speaker 1: mean there's just a never ending amount of things to 26 00:01:10,400 --> 00:01:13,399 Speaker 1: talk about, and so I appreciate that because it gives 27 00:01:13,400 --> 00:01:16,520 Speaker 1: me lots of things to talk about. And uh, you 28 00:01:16,560 --> 00:01:19,600 Speaker 1: need to be paying attention more than ever before, because 29 00:01:19,640 --> 00:01:22,440 Speaker 1: we don't know what's going to happen. Um, it's more 30 00:01:22,480 --> 00:01:27,920 Speaker 1: uncertain than it's ever been. We have we have we 31 00:01:28,000 --> 00:01:31,080 Speaker 1: have land mines, we have potential triggers all over the world. 32 00:01:31,160 --> 00:01:33,120 Speaker 1: And if we start on a big macro scale and 33 00:01:33,160 --> 00:01:34,840 Speaker 1: then get down into more of like what I would 34 00:01:34,880 --> 00:01:36,560 Speaker 1: consider macro, which is like a micro. Now, if we 35 00:01:36,600 --> 00:01:40,480 Speaker 1: start really big, I mean, we got three potential nuclear 36 00:01:41,360 --> 00:01:46,120 Speaker 1: situations that we're dealing with between Russia, between between Israel 37 00:01:46,200 --> 00:01:50,840 Speaker 1: and Iran, in between Taiwan and China, three and and 38 00:01:50,880 --> 00:01:52,680 Speaker 1: make it all happen in the next like six to 39 00:01:52,800 --> 00:01:55,240 Speaker 1: nine months. That's like that close. So that's really big. 40 00:01:55,760 --> 00:01:59,840 Speaker 1: We have we have the European Union about the break 41 00:02:00,040 --> 00:02:02,680 Speaker 1: up with countries going bankrupt. We have credit suites about 42 00:02:02,680 --> 00:02:08,000 Speaker 1: to blow up, which could take Italy, Malta, Spain, Portugal, Italy, um, 43 00:02:08,040 --> 00:02:11,520 Speaker 1: Greece with it. That's bad. Um. Japan is about to 44 00:02:11,880 --> 00:02:15,560 Speaker 1: have to start dumping US treasuries m or have its 45 00:02:15,560 --> 00:02:19,760 Speaker 1: currency completely blow up, which would then pull the US down. UM. 46 00:02:20,240 --> 00:02:22,440 Speaker 1: So hopefully I'm not depressing you too bad. But in 47 00:02:22,480 --> 00:02:25,880 Speaker 1: that backdrop of that, macro, of course, bitcoin and cryptocurrencies 48 00:02:25,880 --> 00:02:28,040 Speaker 1: are taking a hit as well as US stocks are. 49 00:02:28,080 --> 00:02:31,480 Speaker 1: The Nasdaq is down, the SMP five hundred is down. 50 00:02:32,400 --> 00:02:35,000 Speaker 1: The SMP five hundred is holding up pretty good because 51 00:02:35,040 --> 00:02:38,720 Speaker 1: of one company, So the sp five hundred is weighted, 52 00:02:39,120 --> 00:02:41,160 Speaker 1: and the biggest company in there, which is Apple, that 53 00:02:41,200 --> 00:02:43,840 Speaker 1: makes up the biggest chunk of that weight, has been 54 00:02:43,880 --> 00:02:46,240 Speaker 1: holding up pretty well. And because it's holding up pretty well, 55 00:02:46,480 --> 00:02:48,520 Speaker 1: keeping that up with it. But don't let that fool you. 56 00:02:48,720 --> 00:02:51,280 Speaker 1: Dangerous there. And of course, like I said, the cryptocurrenc 57 00:02:51,280 --> 00:02:55,520 Speaker 1: space space, which is way more volatile, including bitcoin is 58 00:02:55,720 --> 00:02:57,639 Speaker 1: uh is barely hanging on and a lot of people 59 00:02:57,680 --> 00:03:00,200 Speaker 1: have been asking me where where will bitcoin and go 60 00:03:01,960 --> 00:03:04,080 Speaker 1: should I buy now? How far will it go down? 61 00:03:04,680 --> 00:03:06,880 Speaker 1: The answer is we don't know. That's the answer. We 62 00:03:06,919 --> 00:03:09,040 Speaker 1: don't know. What we can do is we could try 63 00:03:09,080 --> 00:03:11,320 Speaker 1: to look at a bunch of different indicators and tools. 64 00:03:11,320 --> 00:03:12,760 Speaker 1: We can look at history, and we can try to 65 00:03:12,840 --> 00:03:14,239 Speaker 1: use it as a guide. So let's look at that 66 00:03:14,240 --> 00:03:17,160 Speaker 1: a little bit of history here. So what we can 67 00:03:17,200 --> 00:03:23,680 Speaker 1: see is that throughout throughout pitcoin's life over the last 68 00:03:23,720 --> 00:03:26,079 Speaker 1: dozen or so years, it's been volatile. You know that. 69 00:03:26,200 --> 00:03:27,640 Speaker 1: You know that already. You hear that all the time, right, 70 00:03:27,680 --> 00:03:30,040 Speaker 1: it's volatile, volatile, volatile. So it goes up and down. 71 00:03:30,040 --> 00:03:32,519 Speaker 1: Now that's a good thing. That's a good thing. Um, 72 00:03:32,560 --> 00:03:34,800 Speaker 1: if it wasn't volatile, volatility works both ways, goes up 73 00:03:34,840 --> 00:03:37,120 Speaker 1: and down. So how would it go from zero to 74 00:03:37,320 --> 00:03:41,000 Speaker 1: what's it at? Now? How would it go from zero 75 00:03:41,000 --> 00:03:43,320 Speaker 1: to twenty one if it wasn't volatile? And then the 76 00:03:43,360 --> 00:03:45,000 Speaker 1: answer is it wouldn't. It would just be at zero. 77 00:03:46,160 --> 00:03:48,120 Speaker 1: And so it's a good thing. Um, but if you're 78 00:03:48,120 --> 00:03:51,480 Speaker 1: staring at on a short term basis, it could be dangerous. 79 00:03:51,680 --> 00:03:53,160 Speaker 1: And so if we look at that, we can see 80 00:03:53,160 --> 00:03:55,280 Speaker 1: that there's been some big crashes throughout its history. And 81 00:03:55,360 --> 00:03:58,720 Speaker 1: a matter of fact, um, well, I thought we'd look 82 00:03:58,760 --> 00:04:01,360 Speaker 1: at some of the biggest ones in history. Now, the 83 00:04:01,400 --> 00:04:05,120 Speaker 1: biggest one in bitcoin's history doesn't really count in my opinion. 84 00:04:05,160 --> 00:04:06,680 Speaker 1: It's like an outlier. I want to kind of remove it. 85 00:04:06,720 --> 00:04:08,920 Speaker 1: But that's in two thousand eleven. So bitcoin had just 86 00:04:09,080 --> 00:04:14,920 Speaker 1: got going, um, and it went from two dollars all 87 00:04:14,960 --> 00:04:18,440 Speaker 1: the way to thirty dollars, all right, and it basically 88 00:04:18,600 --> 00:04:20,760 Speaker 1: was worth an ounce of silver, which was a pretty 89 00:04:20,760 --> 00:04:23,400 Speaker 1: big deal for something brand new, all right. But at 90 00:04:23,400 --> 00:04:25,520 Speaker 1: the time, there was no industry, right, there was no 91 00:04:25,680 --> 00:04:27,159 Speaker 1: there was no coin base, there was there was no 92 00:04:27,200 --> 00:04:30,320 Speaker 1: place to get it. There was one exchange, and it 93 00:04:30,400 --> 00:04:33,239 Speaker 1: was Mount Cox. You might have heard about Cox before 94 00:04:33,520 --> 00:04:35,400 Speaker 1: it famously blew up. People lost a lot of money. 95 00:04:35,680 --> 00:04:39,800 Speaker 1: It was the largest bitcoin exchange in the world, and 96 00:04:39,800 --> 00:04:42,120 Speaker 1: they admitted that criminals had hacked hundreds of accounts and 97 00:04:42,120 --> 00:04:45,359 Speaker 1: stole millions of dollars with the bitcoins in a single day. 98 00:04:45,880 --> 00:04:48,400 Speaker 1: And the value bitcoin fell to a one penny to 99 00:04:48,520 --> 00:04:49,680 Speaker 1: a penny, So that was pretty bad and it was 100 00:04:49,640 --> 00:04:52,640 Speaker 1: then dropped down. But like I said, that's kind of 101 00:04:52,680 --> 00:04:54,720 Speaker 1: like an outlier. Bitcoin had just got going. It was 102 00:04:54,760 --> 00:04:58,719 Speaker 1: only worth two bucks, um, you know, basically, um, you know, 103 00:04:58,800 --> 00:05:00,800 Speaker 1: millions of bitcoins were stole in a single day. The 104 00:05:00,839 --> 00:05:03,880 Speaker 1: only exchange there was crashed. UM. Nobody knew what the 105 00:05:03,880 --> 00:05:06,280 Speaker 1: heck it was and in the value fell. So that's 106 00:05:06,320 --> 00:05:09,559 Speaker 1: kind of an outlier if we put that one aside, Okay, 107 00:05:09,600 --> 00:05:11,719 Speaker 1: then let's go from there. So then in August two 108 00:05:11,720 --> 00:05:17,320 Speaker 1: thousand twelve, UM, we learned that there was a classic 109 00:05:17,400 --> 00:05:20,000 Speaker 1: Ponzi scheme updated for the digital age, had been builking 110 00:05:20,000 --> 00:05:23,560 Speaker 1: crypto investors for months, promising incredible returns of seven percent 111 00:05:23,600 --> 00:05:28,760 Speaker 1: a week UM, and they had stolen over seven hundred 112 00:05:28,960 --> 00:05:32,719 Speaker 1: thousand bitcoin at the time by by deception, and that 113 00:05:32,760 --> 00:05:36,040 Speaker 1: caused bitcoin to crash by about fifty six percent. That's 114 00:05:36,040 --> 00:05:40,039 Speaker 1: pretty big over half UM the big one. There's two 115 00:05:40,040 --> 00:05:42,400 Speaker 1: big ones, and these are ones that more relative. April two, 116 00:05:44,440 --> 00:05:47,280 Speaker 1: bitcoin was the victim of its own success. Investors piled in. 117 00:05:47,680 --> 00:05:49,359 Speaker 1: This is when I had first caught my eye. I 118 00:05:49,360 --> 00:05:51,600 Speaker 1: saw a bitcoin going up, up, up, up, up up 119 00:05:51,720 --> 00:05:56,599 Speaker 1: up UM, And this is the first time I caught 120 00:05:56,600 --> 00:05:58,120 Speaker 1: my I was like, maybe I should buy it. I 121 00:05:58,160 --> 00:05:59,480 Speaker 1: see it going up. I think this could be a 122 00:05:59,520 --> 00:06:01,760 Speaker 1: big thing. Was new opportunity. Everyone was excited. They started 123 00:06:01,760 --> 00:06:03,880 Speaker 1: a buzz in in in kind of like the not 124 00:06:04,000 --> 00:06:07,840 Speaker 1: mainstream media, but kind of underground media. UM trading was 125 00:06:07,880 --> 00:06:10,719 Speaker 1: so intense that mount Cox couldn't handle the volume, and 126 00:06:10,760 --> 00:06:13,960 Speaker 1: when it crashed, then hackers attacked the vulnerability and it 127 00:06:13,960 --> 00:06:19,720 Speaker 1: forced mount Cox into an unprecedented total shutdown. Again back 128 00:06:19,720 --> 00:06:24,640 Speaker 1: to early early days, one exchange, super fragile, no redundancy. Today, 129 00:06:24,680 --> 00:06:27,440 Speaker 1: if one exchange goes down, no big deal. There's fifty more, right, 130 00:06:27,800 --> 00:06:30,280 Speaker 1: but then we can buy it on paypalen venmo, I mean, right, 131 00:06:30,720 --> 00:06:32,640 Speaker 1: But back then there was one, there was no redundancy. 132 00:06:32,680 --> 00:06:34,600 Speaker 1: So when it went down and sent prices from to 133 00:06:34,839 --> 00:06:37,240 Speaker 1: sixty all the way down to fifty bucks, that was 134 00:06:37,279 --> 00:06:43,840 Speaker 1: an eighty three percent draw down. December two, thirteen, UM 135 00:06:43,920 --> 00:06:47,640 Speaker 1: China bandit one of the thirteen times that China has 136 00:06:47,680 --> 00:06:51,120 Speaker 1: banned bitcoin. UM and China ban bitcoin at the end 137 00:06:51,160 --> 00:06:55,760 Speaker 1: of and it lost fifty per cent of its value overnight, 138 00:06:55,800 --> 00:06:58,360 Speaker 1: according to the Guardian. UM, of course, like I said, 139 00:06:58,360 --> 00:07:01,520 Speaker 1: it was like and of like thirteen times they've done it. 140 00:07:01,520 --> 00:07:03,560 Speaker 1: As a matter of fact, in one they banned all 141 00:07:03,560 --> 00:07:06,560 Speaker 1: bitcoin mining. Bitcoin mining went to zero in China and 142 00:07:06,560 --> 00:07:09,240 Speaker 1: now it's back up to where it was before. So 143 00:07:09,320 --> 00:07:11,600 Speaker 1: they just keep trying, but they can't stop it. UM. 144 00:07:11,680 --> 00:07:14,240 Speaker 1: Let that be a lesson, no no, no nation. Can 145 00:07:14,360 --> 00:07:17,760 Speaker 1: stop it, and so it dropped fifty percent of the 146 00:07:17,800 --> 00:07:22,280 Speaker 1: time from there from time, so we have besides the 147 00:07:22,320 --> 00:07:25,160 Speaker 1: original outlier like had barely got off the ground, we 148 00:07:25,200 --> 00:07:27,560 Speaker 1: have a fifty six percent UM when there was the 149 00:07:27,560 --> 00:07:31,480 Speaker 1: big hack from the Ponzi scheme, when China banned it, 150 00:07:33,000 --> 00:07:35,840 Speaker 1: three percent when again Mount Cox crashed and had this 151 00:07:35,960 --> 00:07:38,559 Speaker 1: big hack because it was the only game in town. 152 00:07:38,680 --> 00:07:43,440 Speaker 1: So you're starting to see a trend here. Then more 153 00:07:43,520 --> 00:07:48,200 Speaker 1: recent times, everybody remembers this. This one is the um. 154 00:07:48,360 --> 00:07:50,559 Speaker 1: This is the biggest crash that we've had to date 155 00:07:50,680 --> 00:07:52,960 Speaker 1: in history if we we if we get rid of 156 00:07:52,960 --> 00:07:55,600 Speaker 1: that first one. And this is December, so this is 157 00:07:55,600 --> 00:07:58,880 Speaker 1: when bitcoin really came onto the scene. I started buying 158 00:07:58,880 --> 00:08:02,080 Speaker 1: it in so I got the benefit of I think 159 00:08:02,080 --> 00:08:06,680 Speaker 1: it was about three hundred bucks when I started. I 160 00:08:06,720 --> 00:08:09,520 Speaker 1: think the year started out seventeen about a thousand dollars, 161 00:08:10,480 --> 00:08:12,480 Speaker 1: and by the end of that year had gone to 162 00:08:12,960 --> 00:08:16,120 Speaker 1: twenty thousand. So that's a twenty x return inside of 163 00:08:16,120 --> 00:08:18,520 Speaker 1: one year, which is amazing. If you've ever been around investing, 164 00:08:18,720 --> 00:08:22,760 Speaker 1: that is like unbelievable returns. It was like nineteen thousand 165 00:08:22,840 --> 00:08:26,720 Speaker 1: and change. It broke every record. It peaked near twenty thousand, 166 00:08:27,440 --> 00:08:31,080 Speaker 1: we also saw um the legitimacy of bitcoin because the 167 00:08:31,120 --> 00:08:35,200 Speaker 1: futures exchanged. CIME brought out futures which then legitimized it. 168 00:08:35,640 --> 00:08:39,760 Speaker 1: Um I started getting real mainstream press UM. But then 169 00:08:40,320 --> 00:08:41,959 Speaker 1: a couple of things happened. As a matter of fact, 170 00:08:42,080 --> 00:08:45,800 Speaker 1: in my opinion, it was a full on attack against bitcoin. 171 00:08:46,400 --> 00:08:49,880 Speaker 1: There was three powers that be that seemed to conspire 172 00:08:49,920 --> 00:08:53,440 Speaker 1: and come against Bitcoin at the exact same time, and 173 00:08:53,480 --> 00:08:55,960 Speaker 1: that caused it to crash. I'll tell you about those 174 00:08:56,000 --> 00:08:57,480 Speaker 1: three things and how far I crashed and what we 175 00:08:57,520 --> 00:08:58,960 Speaker 1: can learn from that as we look at the next 176 00:08:58,960 --> 00:09:01,320 Speaker 1: two crashes. Either the way you listening to the Markma Show, 177 00:09:01,320 --> 00:09:04,600 Speaker 1: we're talking about the decentralized revolution, we're talking about bitcoin, 178 00:09:04,640 --> 00:09:07,679 Speaker 1: cryptocurrencies and the market crash that's going on right now, 179 00:09:07,679 --> 00:09:09,760 Speaker 1: and and we're looking at some history to get some 180 00:09:09,840 --> 00:09:13,640 Speaker 1: perspective as to where things are going next. You don't 181 00:09:13,640 --> 00:09:16,160 Speaker 1: want to miss it. I'm want to talk about that 182 00:09:16,240 --> 00:09:17,960 Speaker 1: and more, and then we'll use that as a guy 183 00:09:18,000 --> 00:09:19,760 Speaker 1: to see where bitcoin could go and is now a 184 00:09:19,800 --> 00:09:22,440 Speaker 1: good time to buy or not? All right, I'll be 185 00:09:22,440 --> 00:09:24,679 Speaker 1: back with that and more in a minute. You don't 186 00:09:24,720 --> 00:09:27,200 Speaker 1: want to miss it, so don't go away. I'll be 187 00:09:27,520 --> 00:09:32,160 Speaker 1: right back. All right, welcome back. You are listening to 188 00:09:32,200 --> 00:09:34,560 Speaker 1: the Mark ma Show, and we are talking about the 189 00:09:34,679 --> 00:09:38,480 Speaker 1: decentralized revolution. That's right. We're talking about bitcoin. We're talking 190 00:09:38,520 --> 00:09:41,200 Speaker 1: about cryptocurrencies. We're talking about the financial markets, and we're 191 00:09:41,240 --> 00:09:44,000 Speaker 1: trying to make sense of it to know is the 192 00:09:44,080 --> 00:09:46,120 Speaker 1: cheapest as expensive should we buy? Should we not? Is 193 00:09:46,120 --> 00:09:48,839 Speaker 1: it gonna go down further or not? And so much more. 194 00:09:48,840 --> 00:09:52,000 Speaker 1: We're talking about, um, the biggest crashes in bitcoin's history. 195 00:09:52,040 --> 00:09:53,920 Speaker 1: I'm not gonna go back through all that if you're 196 00:09:53,920 --> 00:09:57,160 Speaker 1: not If if you missed it, I'm sorry. UM, don't 197 00:09:57,160 --> 00:09:59,360 Speaker 1: miss it again. If you're not driving, bull ut your phone. 198 00:09:59,360 --> 00:10:01,000 Speaker 1: Put a reminder for the state this time this channel. 199 00:10:01,040 --> 00:10:02,480 Speaker 1: Make sure you're tuning with me each and every week. 200 00:10:02,520 --> 00:10:05,240 Speaker 1: And if you missed it, don't worry. Don't worry. I 201 00:10:05,280 --> 00:10:07,760 Speaker 1: got your back. Um. You can just catch it on 202 00:10:07,800 --> 00:10:11,000 Speaker 1: the podcast. Just search Mark Moss podcast. You can find 203 00:10:11,000 --> 00:10:12,840 Speaker 1: on the iHeart Radio app, you can find on Apple 204 00:10:12,880 --> 00:10:15,720 Speaker 1: wherever you get your podcast, check that out. And if 205 00:10:15,720 --> 00:10:18,800 Speaker 1: you wouldn't mind, I would really appreciate a favor, and 206 00:10:18,840 --> 00:10:21,280 Speaker 1: that would be whether you go listen to the podcast 207 00:10:21,360 --> 00:10:23,120 Speaker 1: or not? What could you do me a big favor? 208 00:10:23,240 --> 00:10:24,640 Speaker 1: You know, I'm out here working hard for you each 209 00:10:24,640 --> 00:10:27,360 Speaker 1: and every week. If you would just go like it 210 00:10:27,640 --> 00:10:30,880 Speaker 1: and leave me a good review, that would be greatly appreciated. 211 00:10:31,280 --> 00:10:34,640 Speaker 1: Small little favor. Thank you all right now, Uh, just 212 00:10:34,679 --> 00:10:36,600 Speaker 1: for that, I'm gonna recap it. So nine in two 213 00:10:36,600 --> 00:10:39,120 Speaker 1: thousand eleven nine draw it out. But that was because 214 00:10:39,240 --> 00:10:40,800 Speaker 1: big when it just got off the ground, it was 215 00:10:40,960 --> 00:10:42,160 Speaker 1: there was only one place to buy it. There was 216 00:10:42,160 --> 00:10:48,520 Speaker 1: the biggest hack, stole all the money. Okay, but again 217 00:10:48,559 --> 00:10:51,079 Speaker 1: the only exchange in town, Max Cox a Mount Cox 218 00:10:51,120 --> 00:10:57,040 Speaker 1: was shut down. Um December China band it dropped. I 219 00:10:57,120 --> 00:10:59,839 Speaker 1: was just at December. Now, I said that there was 220 00:11:00,120 --> 00:11:02,559 Speaker 1: three powers that be that conspired against it. So bitcoin 221 00:11:02,600 --> 00:11:07,240 Speaker 1: had gone uh in a bull run sixteen and seventeen 222 00:11:07,320 --> 00:11:11,640 Speaker 1: started January twenty seen a thousand, and by December it 223 00:11:11,800 --> 00:11:15,520 Speaker 1: was just under twenty nineteen thousand and change. Now what 224 00:11:15,640 --> 00:11:18,199 Speaker 1: happened is, um, I'm gonna come on. This is simple, right. 225 00:11:18,320 --> 00:11:22,240 Speaker 1: Markets stopped going up when there's no more buyers. Simple 226 00:11:22,600 --> 00:11:25,440 Speaker 1: markets also stopped going down when there's no more sellers. 227 00:11:25,440 --> 00:11:27,920 Speaker 1: So as the prices were going up, up, up, up, Up, Up, Up. 228 00:11:27,920 --> 00:11:30,120 Speaker 1: It started sucking in more buyers, sucking in more buyer. Second, 229 00:11:30,400 --> 00:11:32,840 Speaker 1: everyone's like, oh, I'm getting rich. I bought it at 230 00:11:32,840 --> 00:11:34,439 Speaker 1: four thousand, now it's a six thousand. I bought a 231 00:11:34,440 --> 00:11:36,679 Speaker 1: six thousand, now it's eight thousand, and everybody wants to 232 00:11:36,760 --> 00:11:39,760 Speaker 1: jump in. We as humans, were very simple. We rushed 233 00:11:39,760 --> 00:11:43,600 Speaker 1: towards pleasure and we run from pain. So everyone's getting rich. 234 00:11:43,679 --> 00:11:46,000 Speaker 1: I want that pleasure on buying. And so as it's 235 00:11:46,040 --> 00:11:48,360 Speaker 1: going up, it starts sucking in more people, more people, 236 00:11:48,400 --> 00:11:50,920 Speaker 1: more people. But eventually it starts running out of people 237 00:11:50,920 --> 00:11:52,520 Speaker 1: to suck in. It kind of gets all the people 238 00:11:52,559 --> 00:11:54,079 Speaker 1: that kind of believe in this tech and they're willing 239 00:11:54,080 --> 00:11:56,240 Speaker 1: to take some risk and their investors, but it starts 240 00:11:56,320 --> 00:11:59,559 Speaker 1: running out to people. But then the attack came. What's 241 00:11:59,600 --> 00:12:03,720 Speaker 1: the attack? No, it's not the futures. What happened is 242 00:12:03,800 --> 00:12:08,160 Speaker 1: simultaneously the new buyers, remember markets up went up with 243 00:12:08,200 --> 00:12:10,080 Speaker 1: the new more buyers. The new buyers were taken out 244 00:12:10,120 --> 00:12:13,600 Speaker 1: of the system. How what does that mean? Well, if 245 00:12:13,600 --> 00:12:17,280 Speaker 1: you don't hear about it, and you don't know about it, 246 00:12:17,280 --> 00:12:18,920 Speaker 1: how would you buy it? And the answer is you wouldn't. 247 00:12:18,920 --> 00:12:26,080 Speaker 1: And so we saw Facebook and Google simultaneously ban all advertising. 248 00:12:26,120 --> 00:12:29,160 Speaker 1: So now you weren't allowed to talk about um bitcoin 249 00:12:29,200 --> 00:12:32,560 Speaker 1: and cryptocurrency on Google or any of their properties, or 250 00:12:32,600 --> 00:12:34,680 Speaker 1: Facebook or any of their properties. And so people were 251 00:12:34,920 --> 00:12:38,280 Speaker 1: advertising and talking about it, and people were hearing about 252 00:12:38,320 --> 00:12:40,480 Speaker 1: and buying it. So there's new buyers coming in. But 253 00:12:40,520 --> 00:12:42,880 Speaker 1: as soon as they took away the ability to talk 254 00:12:42,920 --> 00:12:46,120 Speaker 1: about it and advertise it, then nowhere buyers. And then 255 00:12:46,160 --> 00:12:49,040 Speaker 1: simultaneously the banks also attacked it, and so then no 256 00:12:49,160 --> 00:12:52,600 Speaker 1: banks would allow you to transfer money to a cryptocurrency institution. 257 00:12:52,880 --> 00:12:55,000 Speaker 1: They wouldn't let you transfer money, they wouldn't let you 258 00:12:55,000 --> 00:12:56,640 Speaker 1: buy it off of your credit card, and so then 259 00:12:56,640 --> 00:12:58,120 Speaker 1: they made it where you couldn't put money. And so 260 00:12:58,240 --> 00:13:00,360 Speaker 1: even if you heard about it, which you it through 261 00:13:00,360 --> 00:13:02,400 Speaker 1: Facebook or Google, but you heard about it through through 262 00:13:02,400 --> 00:13:03,640 Speaker 1: word of mouth, and then you try to buy it 263 00:13:03,679 --> 00:13:05,880 Speaker 1: on your own, then the bank's blocked you. And it 264 00:13:06,000 --> 00:13:09,640 Speaker 1: happened at the same time, so they took away the 265 00:13:09,720 --> 00:13:11,720 Speaker 1: new buyers. And when you're going up at a certain 266 00:13:11,760 --> 00:13:15,719 Speaker 1: trajectory and you're sucking in all these what we call weekends, 267 00:13:16,200 --> 00:13:18,160 Speaker 1: so these are people that don't really understand what they're buying. 268 00:13:18,520 --> 00:13:20,720 Speaker 1: If you know if if you if you've been outside 269 00:13:20,720 --> 00:13:22,439 Speaker 1: the country and you've seen the problem that the financial 270 00:13:22,440 --> 00:13:25,079 Speaker 1: system is caused, and you see how bitcoin can solve that. 271 00:13:25,280 --> 00:13:28,280 Speaker 1: You're a long term holder, right, um, you understand the 272 00:13:28,400 --> 00:13:30,760 Speaker 1: value proposition of bigoin. But if you only bought because 273 00:13:30,800 --> 00:13:32,440 Speaker 1: somebody told you if you buy it today you can 274 00:13:32,440 --> 00:13:34,559 Speaker 1: make on it, then we call that a weekend. You 275 00:13:34,559 --> 00:13:36,440 Speaker 1: don't know what you bob. And so what happens is 276 00:13:36,480 --> 00:13:38,360 Speaker 1: if if we start running out of buyers, they take 277 00:13:38,360 --> 00:13:40,800 Speaker 1: away the ability to talk about it, advertise and put 278 00:13:40,800 --> 00:13:42,960 Speaker 1: money into it. But then it starts going down. As 279 00:13:43,000 --> 00:13:46,160 Speaker 1: soon as it starts going down, all those people that 280 00:13:46,200 --> 00:13:47,840 Speaker 1: bought at the top the weekends that doesn't know what 281 00:13:47,840 --> 00:13:50,360 Speaker 1: they're buying, they sell. Wait a minute, I was told 282 00:13:50,360 --> 00:13:52,319 Speaker 1: I was gonna get rich overnight. I was told I 283 00:13:52,360 --> 00:13:53,760 Speaker 1: was gonna make a thousand percent of my money and 284 00:13:53,800 --> 00:13:55,959 Speaker 1: I didn't, and now I'm actually losing money. I don't 285 00:13:56,000 --> 00:13:58,319 Speaker 1: like this, and they start selling. And so just that's 286 00:13:58,320 --> 00:14:00,960 Speaker 1: why markets get parabolic at the top, and they also 287 00:14:01,200 --> 00:14:04,040 Speaker 1: crashed really fast at the top. All those weekends that 288 00:14:04,080 --> 00:14:05,520 Speaker 1: came to the top that pushed it higher are the 289 00:14:05,520 --> 00:14:07,600 Speaker 1: ones that sell the top and push it back down, 290 00:14:07,600 --> 00:14:10,679 Speaker 1: and that's exactly what happened, and bitcoin ended up going 291 00:14:10,720 --> 00:14:17,160 Speaker 1: down eighty four from there. That was fun living through that, 292 00:14:17,640 --> 00:14:20,920 Speaker 1: not really, but actually it led me to you, So, UM, 293 00:14:21,000 --> 00:14:24,600 Speaker 1: when they when, when we were when when they stopped 294 00:14:24,640 --> 00:14:28,080 Speaker 1: us from any doing any doing act, doing any advertising 295 00:14:28,120 --> 00:14:32,400 Speaker 1: for a bitcoin and cryptocurrencies. UM. Then in I started 296 00:14:32,440 --> 00:14:35,400 Speaker 1: a YouTube channel, and actually my business partner at the 297 00:14:35,400 --> 00:14:37,840 Speaker 1: time UM had started a YouTube channel. I was doing 298 00:14:37,920 --> 00:14:40,040 Speaker 1: videos with him, and then eventually mid two thousand eighteen, 299 00:14:40,080 --> 00:14:41,920 Speaker 1: I started a YouTube channel, which is now led to 300 00:14:41,920 --> 00:14:43,760 Speaker 1: me having a podcast and me being on the radio 301 00:14:43,840 --> 00:14:46,280 Speaker 1: talking to you right now. So UM, I guess, you know, 302 00:14:46,440 --> 00:14:48,240 Speaker 1: I guess it worked out for us at the end. 303 00:14:48,800 --> 00:14:51,480 Speaker 1: But anyway, it got really boring going through that process. 304 00:14:51,520 --> 00:14:55,200 Speaker 1: It dropped and then we saw UM eventually hit the 305 00:14:55,200 --> 00:14:58,880 Speaker 1: bottom and started climbing back up. And then there was 306 00:14:58,920 --> 00:15:01,880 Speaker 1: another big crash, and this was March is when the 307 00:15:01,880 --> 00:15:05,440 Speaker 1: pandemic broke out. The pandemic broke out and the all 308 00:15:05,480 --> 00:15:08,040 Speaker 1: the markets crashed. I mean, they shut down the entire economy, right, 309 00:15:08,080 --> 00:15:11,240 Speaker 1: They took away people's businesses and livelihood and the entire 310 00:15:11,440 --> 00:15:14,680 Speaker 1: market crashed, and of course bitcoin crashed as well, and 311 00:15:14,720 --> 00:15:18,040 Speaker 1: Bitcoin crash fift. Now, something to keep in mind here 312 00:15:18,520 --> 00:15:21,680 Speaker 1: is that when the when the stock market started to crash, 313 00:15:21,720 --> 00:15:24,240 Speaker 1: the SMP five, the NASDAC, et cetera, which of course 314 00:15:24,280 --> 00:15:28,720 Speaker 1: they're crashing because they shut down the whole world economy. UM, 315 00:15:28,760 --> 00:15:31,320 Speaker 1: they use something called circuit breakers. I don't know if 316 00:15:31,360 --> 00:15:34,360 Speaker 1: you've ever heard that before. Basically, what the circuit breakers 317 00:15:34,360 --> 00:15:38,080 Speaker 1: are is it's like a it's a it's part of 318 00:15:38,080 --> 00:15:40,880 Speaker 1: the plunge Protection Team. I don't have you ever heard 319 00:15:40,880 --> 00:15:43,320 Speaker 1: of that before, the p p P Plunge Protection PPT 320 00:15:43,680 --> 00:15:47,800 Speaker 1: Plunge Protection Team. And basically UM, it's a team that 321 00:15:47,840 --> 00:15:50,480 Speaker 1: protects the markets from plunging too fast. If you can 322 00:15:50,520 --> 00:15:53,720 Speaker 1: believe that, UM and so UM, then they trigger the 323 00:15:53,760 --> 00:15:57,000 Speaker 1: circuit breakers. But the markets dropping too fast, it trips 324 00:15:57,000 --> 00:15:59,800 Speaker 1: a circuit breaker, and it basically stops all trading, is 325 00:15:59,800 --> 00:16:03,680 Speaker 1: what happens. And so UM I think in March, don't 326 00:16:03,680 --> 00:16:05,040 Speaker 1: have it in front of me, but I believe, I 327 00:16:05,040 --> 00:16:08,880 Speaker 1: believe it happened seven times. Seven times they had to 328 00:16:09,000 --> 00:16:13,360 Speaker 1: stop UM the stock markets UM from from going down, 329 00:16:14,360 --> 00:16:18,720 Speaker 1: and it's still dropped thirty five cent. Okay, Now, Bitcoin 330 00:16:18,800 --> 00:16:21,480 Speaker 1: didn't have any circuit breakers there was no plunge protection team, 331 00:16:21,520 --> 00:16:25,000 Speaker 1: nobody was stopping it, and UM. The story is is 332 00:16:25,040 --> 00:16:26,960 Speaker 1: that one of the big exchanges where you could go 333 00:16:27,080 --> 00:16:30,560 Speaker 1: short on it UM with leverage bitmax at the time, 334 00:16:31,120 --> 00:16:33,800 Speaker 1: UM it actually UM some of the bots that we're 335 00:16:33,800 --> 00:16:36,920 Speaker 1: doing this automatic trading, we're stuck shorting it and and 336 00:16:37,040 --> 00:16:40,520 Speaker 1: uh the system froze up and they couldn't go in 337 00:16:40,560 --> 00:16:43,240 Speaker 1: and close them. And I believe someone had to actually 338 00:16:43,280 --> 00:16:45,360 Speaker 1: do a D D O S attack against bit mex 339 00:16:45,480 --> 00:16:48,040 Speaker 1: to take it down and get those bots from shorting 340 00:16:48,040 --> 00:16:51,440 Speaker 1: it UM, which was pretty interesting. And so UM had 341 00:16:51,520 --> 00:16:54,840 Speaker 1: had definitely had extreme circumstances UM. But if we ignore 342 00:16:54,880 --> 00:16:59,400 Speaker 1: the circumstances, it drop no plunge protection team, no circuit breakers, 343 00:17:00,280 --> 00:17:06,960 Speaker 1: may have dropped fifty and that brings us to today. 344 00:17:07,600 --> 00:17:14,160 Speaker 1: So uh, here we are today and we have UM. 345 00:17:14,240 --> 00:17:20,040 Speaker 1: We are down about seventy percent from the high as 346 00:17:20,080 --> 00:17:26,720 Speaker 1: of right now. So how much further could it go? Well, 347 00:17:26,760 --> 00:17:28,760 Speaker 1: the worst that we have in history. If we take 348 00:17:28,760 --> 00:17:31,560 Speaker 1: out that original one from when it first started UM, 349 00:17:31,600 --> 00:17:34,320 Speaker 1: then that means potentially we'd go back to the worst 350 00:17:34,320 --> 00:17:36,399 Speaker 1: that we've ever seen. Would we go back down to 351 00:17:37,160 --> 00:17:41,879 Speaker 1: UM eighty UM eight? That would push us down to 352 00:17:41,960 --> 00:17:46,120 Speaker 1: about ten and a half, maybe eleven thousand ish if 353 00:17:46,119 --> 00:17:48,159 Speaker 1: we went down that far, but I don't know if 354 00:17:48,160 --> 00:17:51,560 Speaker 1: we will. UM. We have a couple of other indicators 355 00:17:51,560 --> 00:17:54,119 Speaker 1: that can help us figure this out. I'm gonna tell 356 00:17:54,160 --> 00:17:55,960 Speaker 1: you about that in a minute. Where the floor is 357 00:17:56,000 --> 00:17:59,000 Speaker 1: on this um, where maybe some good entries are and 358 00:17:59,040 --> 00:18:01,119 Speaker 1: some things like that. UM. I'll be back with that 359 00:18:01,200 --> 00:18:02,639 Speaker 1: in two more. In a minute, you're listening to the 360 00:18:02,680 --> 00:18:07,360 Speaker 1: Mark mo Show talking about bitcoin, cryptocurrencies and the decentralized revolution. UM, 361 00:18:07,440 --> 00:18:08,960 Speaker 1: and I'm gonna come back and tell you where I 362 00:18:08,960 --> 00:18:11,080 Speaker 1: think the price point is for bitcoin, that and more. 363 00:18:11,160 --> 00:18:13,680 Speaker 1: Don't go away, I'll be right back. All right, Welcome back. 364 00:18:13,720 --> 00:18:15,879 Speaker 1: You are listening to the markma Show. We're talking about bitcoin, 365 00:18:15,920 --> 00:18:20,000 Speaker 1: We're talking about cryptocurrencies, we are talking about the decentralized revolution, 366 00:18:20,600 --> 00:18:24,720 Speaker 1: and I'm specifically talking about bitcoin crashing. We just went 367 00:18:24,720 --> 00:18:27,120 Speaker 1: through the history of the biggest crashes that we've seen 368 00:18:27,160 --> 00:18:29,439 Speaker 1: in bitcoin to date, and then we're comparing that to 369 00:18:29,440 --> 00:18:32,600 Speaker 1: where we are so UM, as I said, really, if 370 00:18:32,600 --> 00:18:35,600 Speaker 1: we take out the one outlier. Right when bitcoin got started, 371 00:18:35,600 --> 00:18:36,960 Speaker 1: there was only one place to buy it. It It got 372 00:18:37,000 --> 00:18:38,840 Speaker 1: hacked and there was a huge hack, and and so 373 00:18:38,880 --> 00:18:40,720 Speaker 1: we take that one out, we take that out. We 374 00:18:40,760 --> 00:18:45,280 Speaker 1: had an eighty three percent crash in UM when the 375 00:18:45,320 --> 00:18:47,479 Speaker 1: exchange crashed again, and then we had one in UH 376 00:18:47,640 --> 00:18:49,159 Speaker 1: that was eighty three percent, and then we had an 377 00:18:49,160 --> 00:18:51,560 Speaker 1: eighty four percent in December of twenty seventeen when the 378 00:18:51,560 --> 00:18:54,320 Speaker 1: banks took away the money and UH the social media 379 00:18:54,320 --> 00:18:57,719 Speaker 1: platforms took away the ability to UM advertise it. So 380 00:18:57,840 --> 00:19:00,480 Speaker 1: eighty four percent is the worst. Besides, I said that 381 00:19:00,480 --> 00:19:03,199 Speaker 1: that very first outlier. So if we go back to 382 00:19:04,400 --> 00:19:07,200 Speaker 1: from the high today, as I was making the case 383 00:19:07,760 --> 00:19:09,520 Speaker 1: that puts US, I'm kind of looking at the chart 384 00:19:09,600 --> 00:19:15,919 Speaker 1: that puts US at approximately about hundred. So I'm not 385 00:19:15,920 --> 00:19:17,880 Speaker 1: saying it's going to go down there, but I'm saying 386 00:19:17,920 --> 00:19:20,240 Speaker 1: that would be the worst ever, which is about another 387 00:19:20,400 --> 00:19:24,680 Speaker 1: you know, fifty drop from here, which isn't super fun. Now, 388 00:19:24,680 --> 00:19:26,320 Speaker 1: we don't know that's going to be the case. We 389 00:19:26,359 --> 00:19:28,919 Speaker 1: have no crystal wall. A better way to look at 390 00:19:29,000 --> 00:19:33,920 Speaker 1: it is that there's something called a two hundred moving 391 00:19:33,960 --> 00:19:36,639 Speaker 1: age weekly moving average, and so what it does is 392 00:19:36,680 --> 00:19:39,199 Speaker 1: it takes the price UM and it looks at it 393 00:19:39,240 --> 00:19:41,880 Speaker 1: over a four year period, which is an interesting time frame. 394 00:19:41,880 --> 00:19:44,720 Speaker 1: Because bitcoin has a having cycles for every four years, 395 00:19:44,960 --> 00:19:48,040 Speaker 1: it the the amount of new bitcoin being produced every 396 00:19:48,080 --> 00:19:49,920 Speaker 1: day gets cut in half. The supply cuts in half, 397 00:19:49,920 --> 00:19:52,280 Speaker 1: so supply and demand. If the demand stays the same, 398 00:19:52,320 --> 00:19:54,720 Speaker 1: it's supply gets cut in half. What happens to the price, 399 00:19:55,040 --> 00:19:59,200 Speaker 1: it goes up, right and so UM, the two weekly 400 00:19:59,200 --> 00:20:01,600 Speaker 1: moving average moves long without four year time frame. And 401 00:20:01,640 --> 00:20:04,600 Speaker 1: when we when we zoom out and we look at bitcoin, UM, 402 00:20:04,640 --> 00:20:09,440 Speaker 1: it's only gone through this two weekly moving average UM 403 00:20:09,600 --> 00:20:14,240 Speaker 1: like twice and just very very briefly, so it looks 404 00:20:14,280 --> 00:20:18,120 Speaker 1: like back here in it just kind of barely dip 405 00:20:18,160 --> 00:20:21,520 Speaker 1: below it for maybe two candles UM. Then of course 406 00:20:21,600 --> 00:20:24,440 Speaker 1: March of we just talked about that it did dip 407 00:20:24,520 --> 00:20:27,960 Speaker 1: below that UM. As a matter of fact, it went 408 00:20:28,040 --> 00:20:33,679 Speaker 1: down about thirty below it, but only for only for 409 00:20:33,720 --> 00:20:37,359 Speaker 1: just one week, as as it bounced back up pretty quickly. UM. 410 00:20:37,440 --> 00:20:40,520 Speaker 1: And here right now today we're sitting right on that 411 00:20:40,560 --> 00:20:45,040 Speaker 1: two hundred weekly moving average. So historically speaking, it has 412 00:20:45,080 --> 00:20:48,520 Speaker 1: been the best to buy an opportunity to buy in 413 00:20:48,680 --> 00:20:50,880 Speaker 1: at that price. Now, we don't know if history repeats, 414 00:20:50,880 --> 00:20:53,040 Speaker 1: as as any financial advisor will tell you, and I'm 415 00:20:53,040 --> 00:20:55,480 Speaker 1: certainly not one, but any financial advisor would tell you 416 00:20:55,560 --> 00:20:59,479 Speaker 1: that to pass performance is no guarantee of future so 417 00:20:59,520 --> 00:21:02,160 Speaker 1: we don't oh that. But like I said, it's been 418 00:21:02,200 --> 00:21:07,840 Speaker 1: a what what some people call uh generational buying opportunity. 419 00:21:07,840 --> 00:21:09,560 Speaker 1: I think it's a little bit too much hype for 420 00:21:09,560 --> 00:21:12,920 Speaker 1: me to use, but it's traditionally been a very good point. Now, 421 00:21:14,200 --> 00:21:16,280 Speaker 1: you know, records are meant to be broken, So could 422 00:21:16,320 --> 00:21:19,000 Speaker 1: it dropped below that? It certainly can, but it looks 423 00:21:19,040 --> 00:21:23,480 Speaker 1: like it has massive amounts of um of interest there. 424 00:21:23,520 --> 00:21:26,560 Speaker 1: Whenever it gets down to that level, people are just 425 00:21:26,680 --> 00:21:30,280 Speaker 1: buying it up like crazy, and so that's what we're seeing. Um. 426 00:21:30,320 --> 00:21:33,720 Speaker 1: But at the same time, we've never really been we've 427 00:21:33,760 --> 00:21:38,120 Speaker 1: never seen bitcoin in this current market environment that we're 428 00:21:38,119 --> 00:21:40,560 Speaker 1: in today. And so what do I mean by that, Well, 429 00:21:41,520 --> 00:21:44,720 Speaker 1: bitcoin has only been around since two thousand nine, and 430 00:21:44,760 --> 00:21:48,040 Speaker 1: since two thousand nine, we've been in a long term 431 00:21:48,119 --> 00:21:50,919 Speaker 1: secular bull market. That means the markets have just been 432 00:21:50,960 --> 00:21:53,320 Speaker 1: going up since two thousand nine. Now, there has been 433 00:21:53,320 --> 00:21:55,520 Speaker 1: some dips, don't get me wrong, but those are called 434 00:21:55,560 --> 00:21:58,240 Speaker 1: cyclical dips. So there's are short term dips inside of 435 00:21:58,240 --> 00:22:01,280 Speaker 1: a long uptrend mark it. And so bitcoin has only 436 00:22:01,320 --> 00:22:03,960 Speaker 1: been around for that now we don't know, but it 437 00:22:04,000 --> 00:22:06,840 Speaker 1: looks like there's a good probability that we could be 438 00:22:06,880 --> 00:22:11,320 Speaker 1: going into a long term secular down trend market and 439 00:22:11,320 --> 00:22:13,119 Speaker 1: we don't know how Bitcoin will respond in that, and 440 00:22:13,119 --> 00:22:14,760 Speaker 1: so we don't know, and so trying to use this 441 00:22:14,840 --> 00:22:18,040 Speaker 1: as history, Um, it doesn't guarantee anything, and it definitely 442 00:22:18,040 --> 00:22:22,840 Speaker 1: doesn't guarantee anything at all. But like I said, it's 443 00:22:22,840 --> 00:22:25,119 Speaker 1: it's sitting at the support, which is historically been a 444 00:22:25,160 --> 00:22:31,240 Speaker 1: pretty good place to buy. So anyway, UM, the other cryptocurrencies, 445 00:22:31,280 --> 00:22:33,159 Speaker 1: you know, they're kind of following that now. Most of 446 00:22:33,200 --> 00:22:36,439 Speaker 1: the big, big name ones are down even worse than that, 447 00:22:36,480 --> 00:22:38,600 Speaker 1: if you can believe it. It looks like a THEORUM 448 00:22:38,600 --> 00:22:42,800 Speaker 1: is sitting right on that weekly two moving average as well. UM, 449 00:22:42,960 --> 00:22:47,080 Speaker 1: So you know, we'll see what happens here. It's been 450 00:22:47,119 --> 00:22:49,440 Speaker 1: a good day for the stocks. We saw that pretty 451 00:22:49,520 --> 00:22:51,480 Speaker 1: much the entire stock market, the ones at least I'm 452 00:22:51,480 --> 00:22:54,480 Speaker 1: looking at are in the green, meaning they're up UM. 453 00:22:54,520 --> 00:22:58,000 Speaker 1: And it's weird because they rallied off of the Fed's announcements. 454 00:22:58,040 --> 00:23:00,359 Speaker 1: So the FED came out and announced today that they 455 00:23:00,400 --> 00:23:05,200 Speaker 1: are raising rates UM by a whole whopping zero point seven. 456 00:23:06,880 --> 00:23:09,560 Speaker 1: It's not so much how big the raise was. It's 457 00:23:09,600 --> 00:23:13,639 Speaker 1: more about the percentage gain of that raise. And UM, 458 00:23:14,119 --> 00:23:16,480 Speaker 1: what's interesting is that they're doing this to try to 459 00:23:16,760 --> 00:23:20,120 Speaker 1: calm the markets, to make pretend like they have some 460 00:23:20,160 --> 00:23:23,640 Speaker 1: control over that, which of course they don't, and it 461 00:23:23,680 --> 00:23:27,840 Speaker 1: looks like they're losing control because of the way the 462 00:23:27,880 --> 00:23:31,760 Speaker 1: market responded to it. And so it was interesting when 463 00:23:31,800 --> 00:23:35,119 Speaker 1: they raised rates, which they're supposed to or they're hoping 464 00:23:35,160 --> 00:23:40,040 Speaker 1: to crush the market or crash the market because of that, UM, 465 00:23:40,080 --> 00:23:43,920 Speaker 1: it actually responded the other way. And actually what happened 466 00:23:44,160 --> 00:23:47,800 Speaker 1: is the markets went up. We saw gold go up, 467 00:23:47,840 --> 00:23:50,160 Speaker 1: we saw bitcoin go up, we saw stocks go up, 468 00:23:50,640 --> 00:23:54,920 Speaker 1: we saw the dollar index go down, which is very 469 00:23:54,960 --> 00:23:59,840 Speaker 1: interesting and it almost means that the market doesn't believe 470 00:24:00,040 --> 00:24:05,120 Speaker 1: eve that the Fed has control. And that's that's exactly 471 00:24:05,160 --> 00:24:09,080 Speaker 1: what I'm seeing here. UM. Love to hear what you think. UM, 472 00:24:09,119 --> 00:24:11,600 Speaker 1: if you're not following me on Twitter or on social 473 00:24:11,600 --> 00:24:14,200 Speaker 1: media at all, you can find me on Instagram and 474 00:24:14,240 --> 00:24:16,840 Speaker 1: on Twitter at the number one Mark Moss. That's just 475 00:24:16,880 --> 00:24:20,560 Speaker 1: the number one numeral, the numeral one not spelled out, 476 00:24:20,640 --> 00:24:22,119 Speaker 1: but hit me up on there let me know what 477 00:24:22,200 --> 00:24:24,240 Speaker 1: you think. I'd love to hear what you have to 478 00:24:24,240 --> 00:24:28,280 Speaker 1: say about that. But it's interesting, Um, if we look 479 00:24:28,320 --> 00:24:31,880 Speaker 1: at this, you know, they're trying to tackle inflation. Supposedly, 480 00:24:33,640 --> 00:24:37,120 Speaker 1: I say supposedly they are, and and that's because inflation 481 00:24:37,200 --> 00:24:39,280 Speaker 1: continues to run hot. Now, UM, I talk about this 482 00:24:39,320 --> 00:24:42,600 Speaker 1: all the time, so I'm sorry, but it's not the 483 00:24:42,640 --> 00:24:45,919 Speaker 1: definition of inflation that I typically go with or what 484 00:24:45,920 --> 00:24:48,480 Speaker 1: the Austrian economists would think of inflation. But they're talking 485 00:24:48,520 --> 00:24:51,240 Speaker 1: about prices going up, and so prices are going up 486 00:24:51,240 --> 00:24:53,760 Speaker 1: at the highest rate we've seen in forty years, which 487 00:24:53,800 --> 00:24:56,760 Speaker 1: goes back to the eighties. Now, it's interesting if you 488 00:24:56,800 --> 00:24:59,760 Speaker 1: break that down because we have inflation and they just 489 00:25:00,040 --> 00:25:03,359 Speaker 1: CPI consumer price inflation came out at eight point six, 490 00:25:05,119 --> 00:25:08,680 Speaker 1: so we haven't seen that high of CPI since the eighties. Now. 491 00:25:08,840 --> 00:25:12,320 Speaker 1: It's interesting though, because in the eighties we measured CPI 492 00:25:12,400 --> 00:25:14,520 Speaker 1: completely differently. So the way cp I is supposed to 493 00:25:14,520 --> 00:25:15,840 Speaker 1: work is that you measure if I went to the 494 00:25:15,880 --> 00:25:18,119 Speaker 1: grocery store and bought a basket of goods and I 495 00:25:18,200 --> 00:25:21,560 Speaker 1: had a steak and milk and cheese, and then every 496 00:25:21,600 --> 00:25:24,480 Speaker 1: single year you measure that t bone and the pound 497 00:25:24,480 --> 00:25:26,960 Speaker 1: of meat. You know, it's t bone and cheese and milk. 498 00:25:27,040 --> 00:25:28,280 Speaker 1: And every year I went back to the store and 499 00:25:28,280 --> 00:25:29,720 Speaker 1: I bought the exact same thing, and you measure the 500 00:25:29,720 --> 00:25:32,080 Speaker 1: price over time. But what they do is they change 501 00:25:32,160 --> 00:25:34,840 Speaker 1: the basket, so they continue to change the basket to 502 00:25:34,920 --> 00:25:38,639 Speaker 1: manipulate that number lower. There's a company called Shadow Stats 503 00:25:38,680 --> 00:25:41,960 Speaker 1: that tracks it like they started out tracking it. Now 504 00:25:42,000 --> 00:25:46,480 Speaker 1: their number comes out at over seventeen percent inflation. So 505 00:25:47,000 --> 00:25:48,879 Speaker 1: they say it's the highest we've been in seven in 506 00:25:49,119 --> 00:25:53,879 Speaker 1: in forty years, um. But that's with their manipulated down number. 507 00:25:53,960 --> 00:25:58,520 Speaker 1: The reality is is that we are more than double 508 00:25:59,000 --> 00:26:02,200 Speaker 1: where we were forty years ago, which is pretty interesting. 509 00:26:02,680 --> 00:26:05,520 Speaker 1: I think it's pretty easy to see all we see 510 00:26:05,560 --> 00:26:08,560 Speaker 1: and here is the talk of inflation, inflation, inflation in 511 00:26:08,640 --> 00:26:11,719 Speaker 1: my limited amount of market research, let me know if 512 00:26:11,760 --> 00:26:14,880 Speaker 1: I'm wrong, But in my limited amount of market research, UM, 513 00:26:14,920 --> 00:26:17,119 Speaker 1: talking to my parents and some other old people that 514 00:26:17,160 --> 00:26:20,040 Speaker 1: were around, and remember back then, they don't remember it 515 00:26:20,160 --> 00:26:22,679 Speaker 1: being as big of a deal as it is today. 516 00:26:23,280 --> 00:26:25,439 Speaker 1: And so at that time, Paul Volker, he was the 517 00:26:25,440 --> 00:26:27,399 Speaker 1: FED chair, he decided to get crazy and he was 518 00:26:27,440 --> 00:26:29,240 Speaker 1: going to raise interest rates so high that he was 519 00:26:29,280 --> 00:26:30,399 Speaker 1: gonna get in front of it. And he did. He 520 00:26:30,440 --> 00:26:33,760 Speaker 1: took interest rates from ten percent to twenty percent. If 521 00:26:33,800 --> 00:26:36,359 Speaker 1: you can imagine that inside of about three years, I 522 00:26:36,400 --> 00:26:40,080 Speaker 1: believe it was does a hundred percent increase and within 523 00:26:40,119 --> 00:26:43,400 Speaker 1: a couple of years. But the Fed they've done more. 524 00:26:44,240 --> 00:26:46,000 Speaker 1: Now I get it's only zero point to five, but 525 00:26:46,000 --> 00:26:50,040 Speaker 1: it's the percentage of change, and we're looking at about 526 00:26:50,080 --> 00:26:53,439 Speaker 1: a hundred and fifty percent increase in months as opposed 527 00:26:53,480 --> 00:26:55,879 Speaker 1: to a hundred percent increase in years. Now, imagine if 528 00:26:55,920 --> 00:27:01,520 Speaker 1: you're borrowing, costs shot up by a hundred percent a 529 00:27:01,600 --> 00:27:05,600 Speaker 1: hundred in months, and that's where AT's the percentage that matters. 530 00:27:06,200 --> 00:27:08,080 Speaker 1: Hopefully that makes sense. You're listening to the Mark Mo Show. 531 00:27:08,080 --> 00:27:11,160 Speaker 1: We're talking about the decentralized revolution. We're talking about bitcoin, 532 00:27:11,240 --> 00:27:14,479 Speaker 1: we're talking about cryptocurrencies, and we're talking about the greater 533 00:27:14,680 --> 00:27:19,080 Speaker 1: macro markets that are affecting um all our investments, our money, 534 00:27:19,200 --> 00:27:23,360 Speaker 1: and ultimately our livelihood. It's insane that somebody, um Jerome Pale, 535 00:27:23,480 --> 00:27:25,840 Speaker 1: the phederal Reserve has the power to increase the money 536 00:27:25,880 --> 00:27:27,640 Speaker 1: supply and make us feel wealthy and take it away 537 00:27:27,680 --> 00:27:31,479 Speaker 1: and make us feel poor. And that's exactly what they're doing. Um, 538 00:27:31,480 --> 00:27:33,199 Speaker 1: I'm gonna come back. I got a lot more to 539 00:27:33,280 --> 00:27:35,359 Speaker 1: cover in a minute. You're gonna want to hear it. 540 00:27:35,640 --> 00:27:37,360 Speaker 1: All right, welcome back. You are listening to the Mark 541 00:27:37,440 --> 00:27:40,880 Speaker 1: ma Show, and we are talking about the decentralized revolution 542 00:27:40,880 --> 00:27:42,520 Speaker 1: that is changing the world as we know that. We're 543 00:27:42,560 --> 00:27:46,159 Speaker 1: talking about bitcoin and cryptocurrencies, the markets, and politics and 544 00:27:46,200 --> 00:27:48,600 Speaker 1: finance and technology and all these good things that you 545 00:27:48,640 --> 00:27:51,040 Speaker 1: want to know about if you're trying to make context 546 00:27:51,080 --> 00:27:54,240 Speaker 1: of what's going on in the world today. We're talking 547 00:27:54,240 --> 00:27:57,320 Speaker 1: about bitcoin and and the dropping prices. We covered some 548 00:27:57,359 --> 00:28:00,560 Speaker 1: of that, and you know what's inter I call this 549 00:28:00,640 --> 00:28:03,119 Speaker 1: the decentralized revolution. So I talked about the world is 550 00:28:03,320 --> 00:28:05,520 Speaker 1: like on a pendulum, and it swings back and forth 551 00:28:05,800 --> 00:28:07,320 Speaker 1: on a two or fifty year time from and it 552 00:28:07,320 --> 00:28:11,040 Speaker 1: swings towards centralization, globalization, and then it pushes back and 553 00:28:11,080 --> 00:28:14,360 Speaker 1: swings to decentralization. Two or fifty years ago, the American 554 00:28:14,400 --> 00:28:17,119 Speaker 1: Revolution pushed back on the centralization of the monarchy and 555 00:28:17,160 --> 00:28:19,879 Speaker 1: set up a decentralized government. Of course, the United States 556 00:28:19,920 --> 00:28:22,399 Speaker 1: was a republic. Two or fifty years before that was 557 00:28:22,440 --> 00:28:26,560 Speaker 1: the Protestant Reformation, which saw the push back on the 558 00:28:26,640 --> 00:28:29,600 Speaker 1: church and state. And here we are again pushing back 559 00:28:29,600 --> 00:28:31,480 Speaker 1: on the centralization that we can see from the world 560 00:28:31,520 --> 00:28:34,159 Speaker 1: economic form and health organization and on and on and on. 561 00:28:34,840 --> 00:28:38,720 Speaker 1: But it's changing a lot of things. And uh, kind 562 00:28:38,760 --> 00:28:43,400 Speaker 1: of like software changed everything. It to software rate the world, 563 00:28:43,440 --> 00:28:45,920 Speaker 1: they say, right, and um, it changed the way that 564 00:28:45,960 --> 00:28:48,160 Speaker 1: we consume content. It changed the way that we communicate. 565 00:28:48,680 --> 00:28:52,800 Speaker 1: It wiped out books and music and movies and so 566 00:28:52,880 --> 00:28:57,240 Speaker 1: much more. And now we're seeing bitcoin and this decentralized 567 00:28:57,280 --> 00:29:00,960 Speaker 1: technology doing the same thing. And it's pretty amazing to 568 00:29:00,960 --> 00:29:06,880 Speaker 1: sit back and watch, and it's it's happening so fast 569 00:29:07,360 --> 00:29:13,400 Speaker 1: that it's starting to make governments look incompetent any relevant. 570 00:29:14,360 --> 00:29:17,960 Speaker 1: And the more they try to fight this, I think, 571 00:29:18,000 --> 00:29:21,760 Speaker 1: the more incompetent and the more irrelevant they look. Now 572 00:29:22,080 --> 00:29:24,280 Speaker 1: you may think this is a bad thing. I particularly 573 00:29:24,320 --> 00:29:26,360 Speaker 1: think it's a good thing. So let's let's take a 574 00:29:26,360 --> 00:29:28,680 Speaker 1: look at that. So some of the things that I'm 575 00:29:28,720 --> 00:29:31,280 Speaker 1: looking at. So obviously with bitcoin, that's that's an easy one. 576 00:29:31,280 --> 00:29:32,719 Speaker 1: We'll talk about that for a second. I'm gonna talk 577 00:29:32,720 --> 00:29:37,840 Speaker 1: about another one. But obviously with bitcoin cryptocurrencies, um, we 578 00:29:37,960 --> 00:29:41,720 Speaker 1: have now used software to have a way that we 579 00:29:41,760 --> 00:29:45,320 Speaker 1: could store value. All right, I think bigger than just 580 00:29:45,440 --> 00:29:49,400 Speaker 1: money in dollars. We now have a software, cryptographics, software 581 00:29:49,440 --> 00:29:51,600 Speaker 1: that allows us to store value in a way that 582 00:29:51,640 --> 00:29:53,960 Speaker 1: can't be stolen. And if I want to transmit it 583 00:29:53,960 --> 00:29:56,360 Speaker 1: to somebody, nobody can stop it, block it or prevented. 584 00:29:56,720 --> 00:29:58,920 Speaker 1: And its code. And now we've seen over in the 585 00:29:58,960 --> 00:30:01,920 Speaker 1: EU they're trying to pass bills that say you can't 586 00:30:01,960 --> 00:30:05,880 Speaker 1: self custody your own bitcoin or cryptocurrency. In the United States, 587 00:30:05,960 --> 00:30:07,600 Speaker 1: people are talking about it. We haven't gotten to the 588 00:30:07,600 --> 00:30:10,120 Speaker 1: point where they're really trying to do that, But think 589 00:30:10,160 --> 00:30:15,600 Speaker 1: about this. It's cryptography. It's code. Code is ones and zeros, 590 00:30:15,400 --> 00:30:19,560 Speaker 1: it's code. Now, the United States tried to outlaw cryptography 591 00:30:19,600 --> 00:30:21,320 Speaker 1: at one point, they went to the Supreme Court, and 592 00:30:21,320 --> 00:30:24,040 Speaker 1: Supreme Court said, no, you can't outlaw this. It's protected 593 00:30:24,120 --> 00:30:29,600 Speaker 1: under free speech because look, it's code. They printed out, 594 00:30:29,640 --> 00:30:31,960 Speaker 1: it was on paper. How can you ban free speech? 595 00:30:32,000 --> 00:30:35,280 Speaker 1: You can't um And so it's already been upheld by 596 00:30:35,280 --> 00:30:37,200 Speaker 1: the Supreme Corporate, of course, and other nations they could 597 00:30:37,240 --> 00:30:38,840 Speaker 1: do it, and maybe you know who knows. The United 598 00:30:38,840 --> 00:30:40,719 Speaker 1: States are trying to get around Constitution every chance they 599 00:30:40,720 --> 00:30:43,840 Speaker 1: get these days. But think about this with bitcoin, of cryptocurrency. 600 00:30:43,920 --> 00:30:49,120 Speaker 1: I can store my my value cryptographically and all I 601 00:30:49,200 --> 00:30:51,360 Speaker 1: have to know is twelve words in my head. I 602 00:30:51,400 --> 00:30:55,040 Speaker 1: could store one dollar, a thousand, a million, a billion, 603 00:30:55,120 --> 00:30:58,080 Speaker 1: however much I had, and I don't need any device, 604 00:30:58,120 --> 00:31:00,360 Speaker 1: I don't need any piece of paper. ALL need to 605 00:31:00,360 --> 00:31:03,000 Speaker 1: know his twelve words in my head for the code 606 00:31:03,280 --> 00:31:06,680 Speaker 1: for that cryptographic key. So is the government going to 607 00:31:06,800 --> 00:31:11,080 Speaker 1: make it illegal for me to memorize twelve words? I mean, 608 00:31:11,520 --> 00:31:14,120 Speaker 1: think about the insanity of that. They're gonna make it 609 00:31:14,240 --> 00:31:16,440 Speaker 1: least so now so now, nope, you can't know those twelves. 610 00:31:16,440 --> 00:31:18,800 Speaker 1: You can know other things, you can remember other things, 611 00:31:18,800 --> 00:31:21,480 Speaker 1: but you can't know those those those words, like how 612 00:31:21,520 --> 00:31:24,120 Speaker 1: how does that work? I mean the insanity of it. 613 00:31:24,520 --> 00:31:26,440 Speaker 1: And so when you start to see governments trying to 614 00:31:26,480 --> 00:31:29,200 Speaker 1: pass laws that say you can't know certain words in 615 00:31:29,200 --> 00:31:33,080 Speaker 1: your head, they start to look irrelevant and incompetent. Now 616 00:31:33,320 --> 00:31:35,400 Speaker 1: you may think that's a bad thing, maybe if you're 617 00:31:35,400 --> 00:31:37,160 Speaker 1: a statist and you think the government should have complete 618 00:31:37,160 --> 00:31:41,760 Speaker 1: control over us. I'm a freedom maximist. I believe in freedom. 619 00:31:41,800 --> 00:31:44,960 Speaker 1: I believe that everything in life has a trade off, 620 00:31:45,000 --> 00:31:50,000 Speaker 1: a cost benefit, all right, And so um tools can 621 00:31:50,040 --> 00:31:52,120 Speaker 1: be used for good and bad. Look, tools can be 622 00:31:52,200 --> 00:31:55,720 Speaker 1: used for geod and bad, and they do. Um. Baseball 623 00:31:55,760 --> 00:31:58,440 Speaker 1: bats they're used for lots of good, lots of kids 624 00:31:58,480 --> 00:32:01,600 Speaker 1: have fun, I mean pro sports, playing baseball, and sometimes 625 00:32:01,640 --> 00:32:03,960 Speaker 1: they're used as a weapon and they really hurt people. 626 00:32:04,320 --> 00:32:07,960 Speaker 1: Does that mean we should ban all baseball bats? Of course, 627 00:32:07,960 --> 00:32:10,320 Speaker 1: the answer is no. And so we could look at 628 00:32:10,320 --> 00:32:12,719 Speaker 1: the money. Um, should we make it where no one 629 00:32:12,800 --> 00:32:14,680 Speaker 1: is allowed to hold their own wealth in a way 630 00:32:14,720 --> 00:32:18,320 Speaker 1: that the government can't steal it from them? Now granted, okay, 631 00:32:18,360 --> 00:32:21,200 Speaker 1: I mean some people, some terrorists I guess, could use 632 00:32:21,200 --> 00:32:24,360 Speaker 1: money to do terrorists things. But should nobody will be 633 00:32:24,400 --> 00:32:26,200 Speaker 1: allowed to hold money where the government can't steal it 634 00:32:26,200 --> 00:32:28,760 Speaker 1: because maybe potentially a couple of terrorists might use it 635 00:32:29,240 --> 00:32:31,040 Speaker 1: in my opinion, of course, the answer is no. You know, 636 00:32:31,320 --> 00:32:35,440 Speaker 1: terrorists don't just use money to do bad things. They 637 00:32:35,480 --> 00:32:38,840 Speaker 1: also used cars to drive around. They also use phones 638 00:32:38,880 --> 00:32:41,840 Speaker 1: to communicate. I bet they even eat food and drink water. 639 00:32:41,880 --> 00:32:45,480 Speaker 1: Should we ban all those things too? And of course 640 00:32:45,480 --> 00:32:47,480 Speaker 1: that's ridiculous because of course no, we're not going to 641 00:32:47,560 --> 00:32:50,360 Speaker 1: ban food and water. Why because the benefit of food 642 00:32:50,360 --> 00:32:52,440 Speaker 1: and water so much greater than the risk, and so 643 00:32:52,560 --> 00:32:55,080 Speaker 1: we have to look at things like that, and so 644 00:32:55,120 --> 00:32:57,600 Speaker 1: I think that people should be free to do what 645 00:32:57,680 --> 00:33:03,000 Speaker 1: they want. Um, now we have something else. Now we 646 00:33:03,000 --> 00:33:06,480 Speaker 1: see in the United States there's an attack on guns, 647 00:33:06,520 --> 00:33:09,400 Speaker 1: but that's also been digitized. And so now we have 648 00:33:09,600 --> 00:33:13,240 Speaker 1: three D printed guns. And with these three D printed guns, 649 00:33:13,240 --> 00:33:17,960 Speaker 1: now it's code. I can know the code in my head. 650 00:33:18,760 --> 00:33:22,040 Speaker 1: They want to ban, they want to ban me having 651 00:33:22,040 --> 00:33:25,240 Speaker 1: access to that, but I can just memorize it and 652 00:33:25,240 --> 00:33:27,960 Speaker 1: I could just give it to somebody else. And now 653 00:33:28,000 --> 00:33:30,000 Speaker 1: we have a three D printer that can print those. 654 00:33:30,040 --> 00:33:32,360 Speaker 1: And there's an article that just came out was pretty interesting. 655 00:33:32,840 --> 00:33:38,320 Speaker 1: Then a YouTuber three D prints the world's first rocket launcher. Wow, 656 00:33:38,960 --> 00:33:41,400 Speaker 1: three D printing is revolutionized. Gun making has come a 657 00:33:41,440 --> 00:33:44,360 Speaker 1: long way since a single shot liberator pistol was available 658 00:33:44,400 --> 00:33:48,400 Speaker 1: for downloading. Now entire sematic pistol carbines can be entirely 659 00:33:48,440 --> 00:33:53,320 Speaker 1: printed at home. And now it's graduated to rocket launchers. 660 00:33:54,200 --> 00:33:57,760 Speaker 1: That's pretty amazing. Now rocket launchers could be good, used 661 00:33:57,800 --> 00:34:01,520 Speaker 1: for good and bad. I suppose, Um, I mean, I 662 00:34:01,520 --> 00:34:03,560 Speaker 1: guess it's kind of dangerous. You wouldn't want those end 663 00:34:03,600 --> 00:34:06,200 Speaker 1: up in the wrong people's hands. But how do they 664 00:34:06,320 --> 00:34:09,560 Speaker 1: stop it, and this is only going to continue, and 665 00:34:09,600 --> 00:34:13,600 Speaker 1: this is the point. Um, And it's just interesting, and 666 00:34:13,640 --> 00:34:15,920 Speaker 1: I don't, I don't, I don't know where I stand 667 00:34:15,960 --> 00:34:19,840 Speaker 1: on this. Um. I certainly wouldn't want a bunch of 668 00:34:19,840 --> 00:34:23,400 Speaker 1: guys just having rocket launchers, um, if they wanted to 669 00:34:23,440 --> 00:34:26,799 Speaker 1: use those for bad But I suppose those same bad 670 00:34:26,840 --> 00:34:28,799 Speaker 1: people could just get a car and drive it through 671 00:34:28,800 --> 00:34:31,440 Speaker 1: a crowd. And those same bad people could go to 672 00:34:31,480 --> 00:34:33,680 Speaker 1: the hardware store and get all the pieces they need 673 00:34:33,719 --> 00:34:38,400 Speaker 1: to create, you know, a massive explosive. So I suppose 674 00:34:38,440 --> 00:34:41,320 Speaker 1: if somebody wants to inflict pain, there's lots of ways 675 00:34:41,360 --> 00:34:46,240 Speaker 1: they could do it, and they can't really stop it anyway. Um. Again, 676 00:34:46,320 --> 00:34:49,440 Speaker 1: I'm not here to uh to really take sides on this, 677 00:34:49,560 --> 00:34:51,440 Speaker 1: but I think it's interesting. I am taking sides on 678 00:34:51,480 --> 00:34:53,680 Speaker 1: the money. You know, when the government tells you that 679 00:34:53,719 --> 00:34:55,920 Speaker 1: you shouldn't do drugs, it doesn't make you want to 680 00:34:55,960 --> 00:34:58,120 Speaker 1: do drugs. But when the government tells you that you 681 00:34:58,160 --> 00:34:59,799 Speaker 1: don't have the right to store your wealth in a 682 00:34:59,800 --> 00:35:02,600 Speaker 1: way that we can't steal from you, it makes me 683 00:35:02,640 --> 00:35:05,399 Speaker 1: want to do that. Just like in the United States, 684 00:35:05,400 --> 00:35:07,520 Speaker 1: every time they start talking about talking about banning guns, 685 00:35:08,640 --> 00:35:12,240 Speaker 1: gun sales go up, and so UM, I think it's interesting. 686 00:35:12,320 --> 00:35:14,439 Speaker 1: I think the more they try to um squash it, 687 00:35:14,680 --> 00:35:17,319 Speaker 1: the more, like I said, irrelevant. They look. I mean, 688 00:35:17,320 --> 00:35:19,000 Speaker 1: look at what they've done with the war on drugs. 689 00:35:19,800 --> 00:35:22,120 Speaker 1: For the last forty years now, fifty years now, they've 690 00:35:22,120 --> 00:35:24,080 Speaker 1: been trying to fight this war on drugs. Trillions of 691 00:35:24,120 --> 00:35:27,160 Speaker 1: dollars have been spent trying to fight this war on drugs. 692 00:35:27,160 --> 00:35:30,480 Speaker 1: And drugs have to be grown and cultivated, and they 693 00:35:30,480 --> 00:35:32,440 Speaker 1: have to be processed and packaged, and they have to 694 00:35:32,480 --> 00:35:34,120 Speaker 1: be shipped, and they have to be smuggled, they have 695 00:35:34,160 --> 00:35:36,480 Speaker 1: to be distributed in all these things, and they can't 696 00:35:36,560 --> 00:35:39,480 Speaker 1: even stop that. They can't even stop them from going 697 00:35:39,480 --> 00:35:43,240 Speaker 1: into a prison. How the heck are they gonna stop 698 00:35:43,440 --> 00:35:52,240 Speaker 1: bitcoin that's completely digital and anonymous and transparent. The answer 699 00:35:52,239 --> 00:35:57,759 Speaker 1: as they can't, and they won't, and I believe they 700 00:35:57,800 --> 00:36:00,560 Speaker 1: don't even want to. And I've covered out before. You 701 00:36:00,600 --> 00:36:04,920 Speaker 1: can go back into my um you go back into 702 00:36:04,920 --> 00:36:06,919 Speaker 1: the podcast, and you can look. I spent a couple 703 00:36:07,000 --> 00:36:10,240 Speaker 1: of weeks on the podcast going through every single talking 704 00:36:10,280 --> 00:36:13,320 Speaker 1: point of why bitcoin won't work. They're gonna make it illegal. 705 00:36:13,400 --> 00:36:15,359 Speaker 1: They want to make it illegal. They're gonna crash it, 706 00:36:15,800 --> 00:36:17,960 Speaker 1: on and on and on. Um, And I answered, though, 707 00:36:18,000 --> 00:36:20,040 Speaker 1: so go check out the podcast if you want to know, 708 00:36:20,440 --> 00:36:24,719 Speaker 1: um all my reasons for why that won't happen. And 709 00:36:24,800 --> 00:36:28,040 Speaker 1: of course I'm a believer in bitcoin. But one of 710 00:36:28,040 --> 00:36:30,120 Speaker 1: the things I love about bitcoin is it solved the 711 00:36:30,200 --> 00:36:33,719 Speaker 1: oldest problem in history, the oldest problem since man was 712 00:36:33,800 --> 00:36:35,480 Speaker 1: first on the earth, is how do I store my 713 00:36:35,520 --> 00:36:37,520 Speaker 1: property in a way that can't be stolen? That's it. 714 00:36:38,080 --> 00:36:40,640 Speaker 1: So we we made a tribe, and we made a village, 715 00:36:40,640 --> 00:36:42,400 Speaker 1: and we made a kingdom, we made a country to 716 00:36:42,480 --> 00:36:46,120 Speaker 1: protect our private property. But now I can remember twelve 717 00:36:46,120 --> 00:36:48,719 Speaker 1: words in my head, and so I believe it's the 718 00:36:48,760 --> 00:36:51,560 Speaker 1: most revolution stary thing we've ever seen. You listen to 719 00:36:51,560 --> 00:36:54,799 Speaker 1: the Markma show talking about the decentralized revolution. That's what 720 00:36:54,840 --> 00:36:56,719 Speaker 1: I got for you today. All right, thanks so much 721 00:36:56,760 --> 00:36:57,200 Speaker 1: for listening.