1 00:00:00,080 --> 00:00:03,160 Speaker 1: Hello, you are joining the Mark Moss Show, where I'm 2 00:00:03,160 --> 00:00:07,000 Speaker 1: bringing to you the latest in news on bitcoin, cryptocurrencies 3 00:00:07,040 --> 00:00:10,600 Speaker 1: and the decentralized revolution. I've been coming at you every 4 00:00:10,640 --> 00:00:13,680 Speaker 1: single week bringing you the most up to date information, 5 00:00:13,720 --> 00:00:17,560 Speaker 1: the information that you need to navigate this boom correctly. 6 00:00:17,600 --> 00:00:20,280 Speaker 1: And I have to say that you need to understand 7 00:00:20,320 --> 00:00:22,680 Speaker 1: just how important this is. Um, this is not just 8 00:00:23,640 --> 00:00:26,480 Speaker 1: some new type of fad that's going to go away. 9 00:00:26,520 --> 00:00:29,880 Speaker 1: This is not like many many people predicted some of 10 00:00:29,920 --> 00:00:33,640 Speaker 1: this new technology, like Paul Krugman famously said that the 11 00:00:33,640 --> 00:00:35,720 Speaker 1: fax machine would kind of go away as a fad. 12 00:00:35,800 --> 00:00:38,080 Speaker 1: Even Bill Gates called the Internet a fad. Um, this 13 00:00:38,159 --> 00:00:41,040 Speaker 1: is not a fad. This is what we call a 14 00:00:41,159 --> 00:00:45,080 Speaker 1: technological revolution, not a new technology. So the difference of 15 00:00:45,120 --> 00:00:48,320 Speaker 1: that as a new technology, you know, like the iPhone, 16 00:00:48,560 --> 00:00:51,720 Speaker 1: like Uber, Airbnb, Um, those those are cool and if 17 00:00:51,720 --> 00:00:53,440 Speaker 1: you catch them right, you can make some good money. 18 00:00:53,640 --> 00:00:56,040 Speaker 1: And you know, they affect our lives a little bit. Um, 19 00:00:56,040 --> 00:01:00,240 Speaker 1: a technological revolution is something so much bigger than it 20 00:01:00,280 --> 00:01:04,600 Speaker 1: literally changes humanity, and it doesn't just change humanity. Technological 21 00:01:04,600 --> 00:01:08,640 Speaker 1: revolutions drive financial markets. So not only will this change 22 00:01:08,680 --> 00:01:12,000 Speaker 1: your life in every area, it also drives financial markets, 23 00:01:12,000 --> 00:01:14,000 Speaker 1: and so if you get this right, it could be 24 00:01:14,080 --> 00:01:17,960 Speaker 1: the single biggest opportunity of your lifetime. So I bring 25 00:01:18,000 --> 00:01:20,280 Speaker 1: this information to each and every week so you'll have 26 00:01:20,920 --> 00:01:25,800 Speaker 1: what you need to navigate this correctly. It's that important. 27 00:01:25,840 --> 00:01:27,600 Speaker 1: So if you're listening right now, just go ahead and 28 00:01:27,600 --> 00:01:30,360 Speaker 1: pull out your phone, put a bookmark on your calendar 29 00:01:30,440 --> 00:01:32,720 Speaker 1: for this date, this time, and this station, and make 30 00:01:32,760 --> 00:01:35,080 Speaker 1: sure you tune in with me each and every week. 31 00:01:35,560 --> 00:01:37,800 Speaker 1: This is the information that you need, and I'm gonna 32 00:01:37,800 --> 00:01:40,199 Speaker 1: bring it to you. Uh. My name is Mark Moss. Again. 33 00:01:40,280 --> 00:01:43,360 Speaker 1: You can follow me on Twitter at one Mark Moss. 34 00:01:43,400 --> 00:01:45,399 Speaker 1: That's at one Mark Moss. Tweet at me. Let me 35 00:01:45,400 --> 00:01:46,920 Speaker 1: know you heard me on the radio. Ask me a question. 36 00:01:46,959 --> 00:01:50,440 Speaker 1: I'll make sure to answer it next week. Now jumping 37 00:01:50,520 --> 00:01:52,600 Speaker 1: into some of the news, I have a lot of 38 00:01:52,640 --> 00:01:55,520 Speaker 1: stuff planned for you this uh, this episode, this show, 39 00:01:55,600 --> 00:01:58,960 Speaker 1: so make sure you stick around. UM. I have a 40 00:01:59,000 --> 00:02:00,600 Speaker 1: bunch of news that I won't want to talk about 41 00:02:00,640 --> 00:02:02,280 Speaker 1: as far as what's going on with the price. We're 42 00:02:02,280 --> 00:02:05,640 Speaker 1: gonna talk about some huge, huge, huge regulations that are 43 00:02:05,640 --> 00:02:07,880 Speaker 1: happening that are going to blow things wide open. We're 44 00:02:07,880 --> 00:02:12,160 Speaker 1: gonna talk about some information we'll call it that. We 45 00:02:12,280 --> 00:02:14,160 Speaker 1: might call it fud if you know what that is. 46 00:02:14,160 --> 00:02:16,280 Speaker 1: I'll explain to you what that is later. But the 47 00:02:16,280 --> 00:02:20,400 Speaker 1: Bank of England is warning us of a potential financial meltdown. 48 00:02:20,520 --> 00:02:24,560 Speaker 1: We're gonna talk about prices going completely haywire. Of course, 49 00:02:24,600 --> 00:02:26,919 Speaker 1: we're gonna tie all this back to what bitcoin and 50 00:02:26,960 --> 00:02:30,600 Speaker 1: cryptocurrencies mean. I want to get into some some some 51 00:02:30,720 --> 00:02:33,400 Speaker 1: data that's recently been put out that talks about a 52 00:02:33,480 --> 00:02:37,600 Speaker 1: poll that was recently done pulling Americans all over the world, um, 53 00:02:37,639 --> 00:02:40,640 Speaker 1: asking that our Americans all over the country, asking them 54 00:02:40,639 --> 00:02:43,440 Speaker 1: different questions. You'll be very very surprised at the answers, 55 00:02:43,760 --> 00:02:46,760 Speaker 1: um And all of this goes back into the information 56 00:02:46,800 --> 00:02:50,639 Speaker 1: that you need so that you can play this correctly. Now, 57 00:02:50,880 --> 00:02:52,640 Speaker 1: if you've been tuning into each and every week with me, 58 00:02:53,120 --> 00:02:56,840 Speaker 1: first of all, thank you, but you'll also probably recognize 59 00:02:56,880 --> 00:02:58,560 Speaker 1: if you have, and if not, I'll let you know 60 00:02:58,880 --> 00:03:01,680 Speaker 1: that I started the very first episode of the show 61 00:03:02,240 --> 00:03:05,079 Speaker 1: not talking about the price the US dollar of bitcoin. 62 00:03:05,160 --> 00:03:08,840 Speaker 1: We started talking about it from a human rights perspective. 63 00:03:08,840 --> 00:03:11,040 Speaker 1: I had on one of my good friends, Alex Gladstein, 64 00:03:11,680 --> 00:03:14,280 Speaker 1: who's who's from the Human Rights Foundation. We talked about 65 00:03:14,280 --> 00:03:19,160 Speaker 1: how bitcoin is literally solving human rights issues all around 66 00:03:19,200 --> 00:03:21,200 Speaker 1: the world. It's that big, And I started with that 67 00:03:21,240 --> 00:03:23,280 Speaker 1: episode because I didn't want you to think it's all 68 00:03:23,320 --> 00:03:28,000 Speaker 1: about money and about making making dollars. We're literally trying 69 00:03:28,040 --> 00:03:30,440 Speaker 1: to change the world for the better. That's what technological 70 00:03:30,480 --> 00:03:34,840 Speaker 1: revolutions do, and so it's that big. However, I get it. 71 00:03:35,760 --> 00:03:38,000 Speaker 1: Bitcoin is a little bit of a bait and switch. 72 00:03:38,640 --> 00:03:41,280 Speaker 1: It sucks you in on the price, It baits you 73 00:03:41,320 --> 00:03:44,280 Speaker 1: in on the price, and then it switches you into 74 00:03:44,320 --> 00:03:47,640 Speaker 1: the things that are most important. All of the issues 75 00:03:47,680 --> 00:03:50,280 Speaker 1: that we have in the world today all relate back 76 00:03:50,320 --> 00:03:53,160 Speaker 1: to one thing, and that is the money. So we say, 77 00:03:53,160 --> 00:03:54,960 Speaker 1: if we fix the money, we fix the world. So yeah, 78 00:03:55,080 --> 00:03:58,160 Speaker 1: it's great, make some money, increase your US dollar stack, 79 00:03:58,840 --> 00:04:01,080 Speaker 1: that's great. Prices going up like crazy, we need to 80 00:04:01,120 --> 00:04:05,520 Speaker 1: increase our purchasing power. But we're literally talking about fixing 81 00:04:05,680 --> 00:04:08,960 Speaker 1: the world. It's that big. So we're gonna go through 82 00:04:09,000 --> 00:04:11,040 Speaker 1: that a lot on this show, have a lot planned. 83 00:04:11,320 --> 00:04:13,680 Speaker 1: But let's start with the price, because I know a 84 00:04:13,680 --> 00:04:15,760 Speaker 1: lot of you people are paying attention to that, and 85 00:04:15,800 --> 00:04:17,440 Speaker 1: like I said, it's a bait and switch. It's baiting 86 00:04:17,440 --> 00:04:20,080 Speaker 1: anyone with the price. And so right now we are 87 00:04:20,200 --> 00:04:22,440 Speaker 1: continuing to see the rise of the bitcoin price. As 88 00:04:22,480 --> 00:04:25,480 Speaker 1: a matter of fact, that hit fifty eight thousand dollars 89 00:04:25,520 --> 00:04:29,760 Speaker 1: this week, which is an amazing number. We haven't seen 90 00:04:29,800 --> 00:04:33,400 Speaker 1: at that price, um since back in May, and so 91 00:04:33,760 --> 00:04:35,839 Speaker 1: um it's not at the highest it's ever been. We're 92 00:04:35,880 --> 00:04:40,040 Speaker 1: at well, we're at about sixty five thousand dollars US 93 00:04:40,120 --> 00:04:42,840 Speaker 1: dollar value of bitcoin is where the high mark has 94 00:04:42,839 --> 00:04:44,760 Speaker 1: been set. We're a little bit off of that, but 95 00:04:44,920 --> 00:04:49,560 Speaker 1: we are climbing up pretty fast now. Again, Uh, this 96 00:04:49,640 --> 00:04:51,880 Speaker 1: is just the price. But of course as an investor, 97 00:04:52,200 --> 00:04:54,039 Speaker 1: as a trader, these are things that you want to 98 00:04:54,040 --> 00:04:58,200 Speaker 1: be paying attention to, you might ask yourself why why 99 00:04:58,440 --> 00:05:01,760 Speaker 1: is the price going up? Also, the question is typically asked, 100 00:05:01,760 --> 00:05:04,200 Speaker 1: why does the price go down? UM. I typically don't 101 00:05:04,200 --> 00:05:07,200 Speaker 1: try to get too involved into the short term price 102 00:05:07,279 --> 00:05:09,400 Speaker 1: movement of it. In my opinion, I believe it's a 103 00:05:09,400 --> 00:05:12,760 Speaker 1: little bit of a distraction. UM. Long term, I believe 104 00:05:12,839 --> 00:05:15,000 Speaker 1: the picture is much more clear where this can go. 105 00:05:15,520 --> 00:05:17,960 Speaker 1: Short term is a lot more difficult, and that's because 106 00:05:18,240 --> 00:05:20,720 Speaker 1: the price is constantly being traded back and forth. It's 107 00:05:20,760 --> 00:05:24,200 Speaker 1: being set in real time. It's what's called price discovery 108 00:05:24,560 --> 00:05:26,360 Speaker 1: and so the price. The price moves up and down. 109 00:05:26,360 --> 00:05:29,080 Speaker 1: It's volatile, and I don't think it's very productive for 110 00:05:29,120 --> 00:05:31,320 Speaker 1: the average person to be paying attention to it on 111 00:05:31,360 --> 00:05:35,920 Speaker 1: that short of a time period. However, there's continuing amount 112 00:05:36,000 --> 00:05:38,240 Speaker 1: of good news and good data coming out, which I 113 00:05:38,240 --> 00:05:39,839 Speaker 1: think has a lot to do with it. So a 114 00:05:39,880 --> 00:05:43,160 Speaker 1: couple of big, big, big things UM that are happening, 115 00:05:43,560 --> 00:05:46,240 Speaker 1: I think right off the bat, there's been talk for 116 00:05:46,279 --> 00:05:48,840 Speaker 1: the last couple of years about a bitcoin e t 117 00:05:49,080 --> 00:05:52,040 Speaker 1: F on ETF is an exchange traded fund. It's kind 118 00:05:52,040 --> 00:05:55,200 Speaker 1: of like an index. It allows somebody UM through their 119 00:05:55,720 --> 00:05:59,200 Speaker 1: stock trading account to get access to bitcoin, get access 120 00:05:59,240 --> 00:06:01,920 Speaker 1: to the price. So if you're not aware, a lot 121 00:06:02,000 --> 00:06:05,160 Speaker 1: of people aren't able to buy bitcoin either one UM 122 00:06:05,200 --> 00:06:09,200 Speaker 1: they don't know how, it's too difficult or especially on 123 00:06:09,240 --> 00:06:12,479 Speaker 1: the institution side and inside your retirement counts your i 124 00:06:12,680 --> 00:06:15,120 Speaker 1: RA S four one case, things like that, you're not 125 00:06:15,279 --> 00:06:18,960 Speaker 1: able to buy bitcoin. Bitcoin is a commodity, it's that's 126 00:06:18,960 --> 00:06:21,160 Speaker 1: what that's what it's classified in the United States as 127 00:06:21,200 --> 00:06:24,159 Speaker 1: a commodity as an asset like property, and so you're 128 00:06:24,160 --> 00:06:28,560 Speaker 1: not able to buy those things through your normal retirement accounts. However, 129 00:06:28,600 --> 00:06:30,919 Speaker 1: if it goes into an e t F, an exchange 130 00:06:30,960 --> 00:06:34,360 Speaker 1: had fund, basically what they would do is then say, well, 131 00:06:34,400 --> 00:06:37,680 Speaker 1: if you buy our fund, then we'll go and buy bitcoin. 132 00:06:38,279 --> 00:06:42,120 Speaker 1: And so you're getting access to the price of bitcoin, 133 00:06:42,320 --> 00:06:45,839 Speaker 1: but you don't technically own bitcoin. Um. So that's basically 134 00:06:45,839 --> 00:06:47,200 Speaker 1: what an e t F is. Now. We have e 135 00:06:47,279 --> 00:06:49,760 Speaker 1: t s for all the other big commodities, of course, 136 00:06:49,800 --> 00:06:52,960 Speaker 1: so precious metals, gold and silver, um, there's a new 137 00:06:53,200 --> 00:06:55,600 Speaker 1: uranium one that's going right now. Of course, you can 138 00:06:55,640 --> 00:06:58,680 Speaker 1: find them through lots of other physical commodities, and so 139 00:06:59,200 --> 00:07:01,800 Speaker 1: that is basically what's happening with Bitcoin. Now. There's lots 140 00:07:01,800 --> 00:07:05,560 Speaker 1: of speculation that we're finally, finally going to get a 141 00:07:05,560 --> 00:07:08,920 Speaker 1: bitcoin e t F through the door. Um. Some of 142 00:07:08,960 --> 00:07:11,560 Speaker 1: these big giant, you know, financial institutions have been trying 143 00:07:11,600 --> 00:07:14,320 Speaker 1: to get an e t F through the door for 144 00:07:14,440 --> 00:07:16,240 Speaker 1: a couple of years now, so we've been seeing them 145 00:07:16,240 --> 00:07:19,040 Speaker 1: try over and over and over, but every time they do, 146 00:07:19,480 --> 00:07:22,760 Speaker 1: the SEC has shut him down and just and just 147 00:07:22,760 --> 00:07:25,080 Speaker 1: stopped him in their tracks. Now a lot of people 148 00:07:25,240 --> 00:07:28,520 Speaker 1: speculate that if we get an e t F approved, 149 00:07:28,800 --> 00:07:32,760 Speaker 1: we're going to see the floodgates just come into bitcoin 150 00:07:32,840 --> 00:07:35,920 Speaker 1: and could push the price higher than most people have imagined. 151 00:07:36,200 --> 00:07:38,320 Speaker 1: And so we've been speculated on this for years. We've 152 00:07:38,320 --> 00:07:41,800 Speaker 1: been waiting, watching, watching, you know. I think it probably 153 00:07:41,920 --> 00:07:45,640 Speaker 1: first really started being talked about in and I don't 154 00:07:45,680 --> 00:07:47,240 Speaker 1: have the number. I should have done some research, but 155 00:07:47,320 --> 00:07:50,600 Speaker 1: I would imagine at this point dozens have been put 156 00:07:50,640 --> 00:07:53,520 Speaker 1: forth and have been denied. A lot of the reasons 157 00:07:53,560 --> 00:07:57,360 Speaker 1: given for denying them are that, um, the bitcoin of price, 158 00:07:57,440 --> 00:07:59,680 Speaker 1: the bitcoin prices too volatile, it goes up and down. 159 00:07:59,680 --> 00:08:01,560 Speaker 1: To my UM, A lot of a lot of it 160 00:08:01,600 --> 00:08:04,160 Speaker 1: is that it's too small of the market. So UM, 161 00:08:04,200 --> 00:08:07,160 Speaker 1: with the current price getting back up over fifty, we've 162 00:08:07,200 --> 00:08:10,520 Speaker 1: seen the total market cap, which is all the existing 163 00:08:10,520 --> 00:08:14,560 Speaker 1: bitcoin times the price equals the market cap, and we've 164 00:08:14,600 --> 00:08:17,840 Speaker 1: seen that get over one trillion dollars again. And so 165 00:08:17,960 --> 00:08:20,360 Speaker 1: once it gets over a trillion dollars, it starts to 166 00:08:20,440 --> 00:08:23,560 Speaker 1: become a big enough asset that could be used in 167 00:08:23,560 --> 00:08:25,840 Speaker 1: the e t F. So that's something. The other thing 168 00:08:25,880 --> 00:08:27,440 Speaker 1: is that, of course a lot of people think that 169 00:08:27,640 --> 00:08:30,320 Speaker 1: the government will just make it illegal um. And so 170 00:08:30,360 --> 00:08:33,240 Speaker 1: that's probably one of the biggest things that I hear 171 00:08:33,400 --> 00:08:36,680 Speaker 1: all the time people talking about bitcoin and cryptocurrencies is 172 00:08:36,679 --> 00:08:39,400 Speaker 1: that the government will make them illegal. Well, some big 173 00:08:39,440 --> 00:08:42,120 Speaker 1: catalyst that came out this week is both um Jerome 174 00:08:42,160 --> 00:08:45,280 Speaker 1: Palell who's the head of the Federal Reserve, the Central Bank, 175 00:08:45,920 --> 00:08:49,200 Speaker 1: and Gary Ginsler, who's the new head of the SEC, 176 00:08:49,520 --> 00:08:53,240 Speaker 1: have both come out and said they will not make 177 00:08:53,559 --> 00:08:57,440 Speaker 1: bitcoin illegal. So um, I think that's also having something 178 00:08:57,440 --> 00:08:59,679 Speaker 1: to do with the price. But also since the head 179 00:08:59,679 --> 00:09:03,360 Speaker 1: of the SEC, Gensler, has made that stance and the 180 00:09:03,440 --> 00:09:06,480 Speaker 1: SEC is the one that approves the e t F 181 00:09:06,559 --> 00:09:09,400 Speaker 1: to go through, a lot of people are thinking it's 182 00:09:09,440 --> 00:09:11,080 Speaker 1: going to come through. Now. I want to tell you 183 00:09:11,120 --> 00:09:13,640 Speaker 1: what this means and what I think is going to happen, 184 00:09:13,880 --> 00:09:15,280 Speaker 1: and then I want to tell you about some other 185 00:09:15,400 --> 00:09:18,560 Speaker 1: catalysts that are happening inside of bitcoin right now that 186 00:09:18,600 --> 00:09:21,840 Speaker 1: are going to propel it more uh much more higher 187 00:09:21,840 --> 00:09:24,400 Speaker 1: and faster than you might imagine. You're listening to the 188 00:09:24,400 --> 00:09:27,320 Speaker 1: Mark Moss Show, and I'm gonna be right back, all right, 189 00:09:27,360 --> 00:09:29,559 Speaker 1: welcome back. You are listening to the Mark mass Show 190 00:09:29,640 --> 00:09:33,280 Speaker 1: where I talk about bitcoin and cryptocurrencies and really the 191 00:09:33,480 --> 00:09:39,080 Speaker 1: d centralized revolution, the technological revolution that's literally happening now 192 00:09:39,200 --> 00:09:42,440 Speaker 1: and will change the way the world works, change humanity. 193 00:09:42,679 --> 00:09:45,880 Speaker 1: And so the way that you take advantage of these opportunities, 194 00:09:45,920 --> 00:09:49,800 Speaker 1: these asymmetric opportunities by having information that most people don't have, 195 00:09:50,200 --> 00:09:51,959 Speaker 1: which is what I'm trying to bring to you each 196 00:09:51,960 --> 00:09:53,839 Speaker 1: and every week, So make sure to tune in. Now. 197 00:09:53,840 --> 00:09:57,000 Speaker 1: We were just talking about, UM, the price of bitcoin, 198 00:09:57,080 --> 00:09:59,400 Speaker 1: the U. S Dollar of bitcoin. In my opinion, I 199 00:09:59,400 --> 00:10:01,760 Speaker 1: think it's a little of a distraction. I try not 200 00:10:01,800 --> 00:10:03,480 Speaker 1: to pay too much attention to it on a short 201 00:10:03,600 --> 00:10:06,360 Speaker 1: term basis. I'm more focused on where it's going over 202 00:10:06,440 --> 00:10:10,360 Speaker 1: the long run. UM. Maybe that's because I've been a 203 00:10:10,400 --> 00:10:14,200 Speaker 1: full time investor and UH developer for decades, you know, 204 00:10:14,280 --> 00:10:17,120 Speaker 1: and when I was developing real estate UM, and I've 205 00:10:17,160 --> 00:10:20,120 Speaker 1: developed tens of millions of dollars worth the real estate UM. 206 00:10:20,160 --> 00:10:22,200 Speaker 1: And a lot of these real estate projects would be 207 00:10:22,559 --> 00:10:24,920 Speaker 1: multi year, right, So I'd have to buy land, and 208 00:10:24,960 --> 00:10:27,520 Speaker 1: I'd have to get it rezoned and get it approved 209 00:10:27,559 --> 00:10:29,400 Speaker 1: to the city, and then I have to get architects 210 00:10:29,400 --> 00:10:31,840 Speaker 1: and permits and all these things, and it could be 211 00:10:31,920 --> 00:10:33,880 Speaker 1: three to five years on a project. And so maybe 212 00:10:33,880 --> 00:10:36,840 Speaker 1: that's just helped me to learn to think longer term. 213 00:10:36,880 --> 00:10:39,199 Speaker 1: The one problem I see today is that everybody's thinking 214 00:10:39,280 --> 00:10:41,640 Speaker 1: so short term, how much can I make this week? 215 00:10:41,800 --> 00:10:43,400 Speaker 1: If you buy something and then the price goes down 216 00:10:43,400 --> 00:10:45,240 Speaker 1: a little bit, people freak out. And so that's why 217 00:10:45,280 --> 00:10:46,520 Speaker 1: I think the price is a little bit of a 218 00:10:46,960 --> 00:10:49,240 Speaker 1: short term price is a little bit of a distraction. UM. 219 00:10:49,280 --> 00:10:51,360 Speaker 1: Really we're trying to look at the long term viability 220 00:10:51,400 --> 00:10:53,440 Speaker 1: of it UM. But back to the price it is. 221 00:10:53,520 --> 00:10:56,839 Speaker 1: It is back up over thousan dollars at the time 222 00:10:56,840 --> 00:11:00,559 Speaker 1: of this recording. And UM. Some of the catalysts that 223 00:11:00,600 --> 00:11:02,280 Speaker 1: are driving it, and I was talking about one being 224 00:11:02,320 --> 00:11:04,240 Speaker 1: as e t F getting approved. They've been trying to 225 00:11:04,240 --> 00:11:07,360 Speaker 1: get an e t F through for the last several years. UM. 226 00:11:07,400 --> 00:11:11,120 Speaker 1: But the new head of the SEC, Gary Ginsler Um, 227 00:11:11,200 --> 00:11:14,680 Speaker 1: he is a bitcoin and cryptocurrency fan. As a matter 228 00:11:14,679 --> 00:11:18,560 Speaker 1: of fact, he taught at M I T as a 229 00:11:18,600 --> 00:11:22,520 Speaker 1: professor on bitcoin, so he not only is a fan, 230 00:11:22,720 --> 00:11:24,920 Speaker 1: he literally taught on it at M I T. So 231 00:11:25,000 --> 00:11:27,640 Speaker 1: he knows it very very well. And because of that, 232 00:11:27,960 --> 00:11:31,240 Speaker 1: because of his understanding of it UM, a lot of 233 00:11:31,240 --> 00:11:33,640 Speaker 1: people think that we're much more likely now to get 234 00:11:33,679 --> 00:11:35,560 Speaker 1: this e t F through. As a matter of fact, 235 00:11:36,200 --> 00:11:39,360 Speaker 1: I'm not really a betting man. But in the betting markets, 236 00:11:39,720 --> 00:11:43,240 Speaker 1: they have markets basically to bet on everything, and they 237 00:11:43,280 --> 00:11:46,719 Speaker 1: have betting markets to show what the potential approval rate 238 00:11:46,720 --> 00:11:48,600 Speaker 1: of getting the e t F through is UM and 239 00:11:48,600 --> 00:11:50,720 Speaker 1: a lot of people are putting in about seventy five 240 00:11:51,600 --> 00:11:54,320 Speaker 1: chance of getting that e t F through, And of 241 00:11:54,320 --> 00:11:57,160 Speaker 1: course if that were to happen, we could see a 242 00:11:57,240 --> 00:12:01,040 Speaker 1: massive amount of money flooding into bit going over that. Now, 243 00:12:01,120 --> 00:12:03,520 Speaker 1: a couple of things to keep in mind. First off, 244 00:12:04,320 --> 00:12:07,920 Speaker 1: this may shock you. Sorry if it does, brace yourself. 245 00:12:08,880 --> 00:12:11,480 Speaker 1: But I'm not a big fan of an EF. I'm 246 00:12:11,520 --> 00:12:12,679 Speaker 1: just I'm just not a big fan of an e 247 00:12:12,720 --> 00:12:15,439 Speaker 1: t F for for a couple of reasons. The first 248 00:12:15,440 --> 00:12:18,400 Speaker 1: thing is that, you know, wall modern economics tries to 249 00:12:18,400 --> 00:12:21,520 Speaker 1: make everything so complicated that you can't really understand it. 250 00:12:21,720 --> 00:12:23,560 Speaker 1: I think part of that strategy is so that you 251 00:12:23,640 --> 00:12:26,080 Speaker 1: don't try to understand it and you just hire a 252 00:12:26,080 --> 00:12:29,760 Speaker 1: financial advisor. UM. But they try to make things so complicated, 253 00:12:29,800 --> 00:12:33,520 Speaker 1: But the reality is it's not. The reality is is 254 00:12:33,559 --> 00:12:38,560 Speaker 1: that it drives off of supply and demand. When demand 255 00:12:39,080 --> 00:12:43,600 Speaker 1: outstrips supply, the price goes up, and the opposite is 256 00:12:43,640 --> 00:12:47,160 Speaker 1: also true. So what happens is um. The more people 257 00:12:47,240 --> 00:12:51,280 Speaker 1: that want bitcoin, they buy bitcoin, that's the demand go up. 258 00:12:51,480 --> 00:12:53,760 Speaker 1: The supply is fixed. There can never be more than 259 00:12:53,840 --> 00:12:58,280 Speaker 1: twenty one million. That's it um. And so as more 260 00:12:58,320 --> 00:13:00,079 Speaker 1: and more people want it, So let's say that to 261 00:13:00,360 --> 00:13:02,680 Speaker 1: you know, all these institutions want to buy it. That 262 00:13:02,840 --> 00:13:05,920 Speaker 1: increases the demand, but the supply stays fixed, which of 263 00:13:05,920 --> 00:13:08,360 Speaker 1: course pushes the price up. The problem that I have 264 00:13:08,480 --> 00:13:12,640 Speaker 1: with y F is that it enables people to buy 265 00:13:13,080 --> 00:13:16,680 Speaker 1: fake bitcoin. What do I mean by that, Well, what 266 00:13:16,840 --> 00:13:19,360 Speaker 1: happens is if you were with me on the previous segment, 267 00:13:19,600 --> 00:13:21,640 Speaker 1: you said you heard me say that it's a way 268 00:13:21,679 --> 00:13:26,079 Speaker 1: for people to get access to bitcoin's price, but without 269 00:13:26,120 --> 00:13:29,560 Speaker 1: actually owning anything. And so what I mean by that 270 00:13:29,679 --> 00:13:31,720 Speaker 1: is we have, as I said, right, we have gold 271 00:13:31,800 --> 00:13:35,040 Speaker 1: et fs. And so instead of me owning physical gold 272 00:13:35,320 --> 00:13:37,040 Speaker 1: that I have to take possession of and I put 273 00:13:37,080 --> 00:13:39,120 Speaker 1: into my safe or I bury in my backyard or 274 00:13:39,120 --> 00:13:41,760 Speaker 1: in a safety deposit box, instead of doing that, what 275 00:13:41,880 --> 00:13:43,760 Speaker 1: I could do is I can buy a gold et 276 00:13:44,000 --> 00:13:46,680 Speaker 1: F and there's plenty of them to choose from. So 277 00:13:46,720 --> 00:13:50,199 Speaker 1: I buy the gold ETF. Now I don't technically own gold, 278 00:13:50,920 --> 00:13:53,920 Speaker 1: but I have exposure to the price of gold. So 279 00:13:53,960 --> 00:13:57,160 Speaker 1: if the price of gold goes up, my shares and 280 00:13:57,200 --> 00:13:59,200 Speaker 1: the e t F go up in value as well. 281 00:13:59,240 --> 00:14:02,240 Speaker 1: But I don't own the gold. And so the same 282 00:14:02,280 --> 00:14:04,120 Speaker 1: would be true with bitcoin in a sense where if 283 00:14:04,120 --> 00:14:05,319 Speaker 1: I bought it through an e t F, I don't 284 00:14:05,320 --> 00:14:08,959 Speaker 1: actually own bitcoin. I just have exposure to the price 285 00:14:09,040 --> 00:14:12,600 Speaker 1: of bitcoin. Now this is bad in my opinion for 286 00:14:12,640 --> 00:14:15,320 Speaker 1: a couple of reasons. The first reason I would say 287 00:14:15,559 --> 00:14:19,200 Speaker 1: is that and and and probably the bigger reason, well 288 00:14:19,200 --> 00:14:21,320 Speaker 1: they're both big, but probably the first big reason is that, 289 00:14:21,800 --> 00:14:25,880 Speaker 1: back to economics one on one, supply and demand. If 290 00:14:26,280 --> 00:14:28,720 Speaker 1: if more people want to buy bitcoin, there's more demand. 291 00:14:29,080 --> 00:14:31,000 Speaker 1: If the supplies fixed, the price goes up. But what 292 00:14:31,120 --> 00:14:34,560 Speaker 1: if I can get exposure to the price of bitcoin, 293 00:14:35,040 --> 00:14:37,440 Speaker 1: but I don't actually have to buy it. So now 294 00:14:37,440 --> 00:14:40,800 Speaker 1: you have all these potential buyers who want bitcoin in 295 00:14:40,800 --> 00:14:45,040 Speaker 1: their portfolio, but rather than actually buying it, they're buying 296 00:14:45,160 --> 00:14:47,400 Speaker 1: paper versions of it. They're buying it in an e 297 00:14:47,520 --> 00:14:51,360 Speaker 1: t F. That messes up the entire demand supply and 298 00:14:51,400 --> 00:14:54,960 Speaker 1: demand relationships. So let me give you an example in 299 00:14:55,080 --> 00:14:57,120 Speaker 1: back to the gold ets they've been around for a 300 00:14:57,120 --> 00:14:59,720 Speaker 1: long time, in a gold et F again right, you 301 00:14:59,760 --> 00:15:04,520 Speaker 1: have exposure to the price um estimates are today there's 302 00:15:04,560 --> 00:15:10,880 Speaker 1: about five hundred paper ounces for everyone physical ounce of gold. 303 00:15:11,360 --> 00:15:14,080 Speaker 1: So what does that mean. That means there's five people 304 00:15:14,080 --> 00:15:16,480 Speaker 1: that think they own an ounce of gold, but the 305 00:15:16,560 --> 00:15:19,800 Speaker 1: reality is there's only one physical ounce of gold to 306 00:15:19,800 --> 00:15:22,680 Speaker 1: go around, So four nine people are gonna be left 307 00:15:22,720 --> 00:15:27,240 Speaker 1: holding worthless paper. Now that's bad in itself. Four people 308 00:15:27,280 --> 00:15:30,120 Speaker 1: are going to find out they own virtually something nothing 309 00:15:30,240 --> 00:15:32,680 Speaker 1: or something that's worthless. But even worse than that, Like 310 00:15:32,720 --> 00:15:35,960 Speaker 1: I said, that's four people that should have just bought gold. 311 00:15:36,000 --> 00:15:38,880 Speaker 1: And if those four people would have bought gold, the 312 00:15:38,960 --> 00:15:40,640 Speaker 1: demand for gold would have gone up and it would 313 00:15:40,640 --> 00:15:42,800 Speaker 1: have pushed the price up. And so by creating this 314 00:15:42,880 --> 00:15:46,200 Speaker 1: fake paper market, this e t F market, it shifts 315 00:15:46,240 --> 00:15:49,000 Speaker 1: that supply demand. Because bitcoin is a fixed cap um, 316 00:15:49,120 --> 00:15:52,040 Speaker 1: now they can buy an unlimited amount of bitcoin fake 317 00:15:52,640 --> 00:15:56,040 Speaker 1: on paper. So that's one fear that I have. Another 318 00:15:56,120 --> 00:15:57,720 Speaker 1: fear that I have, or thing that I just don't 319 00:15:57,760 --> 00:16:00,320 Speaker 1: like about the e t F s is that again, 320 00:16:00,480 --> 00:16:03,680 Speaker 1: bitcoin is not uh just a new technology. It's a 321 00:16:03,760 --> 00:16:08,320 Speaker 1: technological revolution that will literally change all of humanity. And 322 00:16:08,360 --> 00:16:12,200 Speaker 1: so um, you know, while you might be listening by 323 00:16:12,200 --> 00:16:14,320 Speaker 1: the way to the Markma Show, we're talking about bitcoin 324 00:16:14,360 --> 00:16:17,160 Speaker 1: cryptocurrencies each and every week. Um. While you might be 325 00:16:18,000 --> 00:16:22,760 Speaker 1: thinking about bitcoin as you know, maybe it's digital cash. Yeah, yeah, yeah, 326 00:16:22,760 --> 00:16:25,280 Speaker 1: it's digital cash. I get it. Or I get it's 327 00:16:25,280 --> 00:16:27,120 Speaker 1: it's kind of like digital gold. Oh yeah, yeah, I 328 00:16:27,120 --> 00:16:29,200 Speaker 1: get it's kind of like that too. But bitcoin is 329 00:16:29,240 --> 00:16:33,000 Speaker 1: actually so much more than that. Um, we actually don't 330 00:16:33,120 --> 00:16:35,120 Speaker 1: know exactly what it's going to be. Now. Let me 331 00:16:35,120 --> 00:16:38,640 Speaker 1: give you an example. So in a technological revolution, we 332 00:16:38,720 --> 00:16:40,880 Speaker 1: try in our human minds, because we're not going to 333 00:16:40,960 --> 00:16:43,080 Speaker 1: predict in the future, we try to relate it to 334 00:16:43,120 --> 00:16:45,560 Speaker 1: something else that we can understand. So, for example, when 335 00:16:45,720 --> 00:16:49,520 Speaker 1: electricity was created, which is one of the five technological revolutions, 336 00:16:49,760 --> 00:16:52,280 Speaker 1: When electricity came out, it was kind of like a 337 00:16:52,320 --> 00:16:55,160 Speaker 1: digital candle, and a lot of people said, why do 338 00:16:55,240 --> 00:16:57,680 Speaker 1: we need that. It's stupid, it doesn't make any sense, 339 00:16:57,800 --> 00:17:00,400 Speaker 1: there's no use case for it. Candles have been perfect 340 00:17:00,400 --> 00:17:02,960 Speaker 1: for five thousand years. Why do we need a digital candle? 341 00:17:03,040 --> 00:17:06,679 Speaker 1: I just use a regular candle, right, um, and and 342 00:17:06,680 --> 00:17:10,840 Speaker 1: and and electricity was at that time a digital candle. 343 00:17:11,160 --> 00:17:14,360 Speaker 1: It was, and it still kind of is today, but 344 00:17:14,480 --> 00:17:17,600 Speaker 1: it's so much more than that. It's allowing us to 345 00:17:17,600 --> 00:17:19,240 Speaker 1: do what we're doing right now. And that's kind of 346 00:17:19,280 --> 00:17:20,960 Speaker 1: like what bitcoin is. It's yes, it is kind of 347 00:17:21,000 --> 00:17:23,239 Speaker 1: like digital gold. Sure, it is like digital cash, Yes 348 00:17:23,280 --> 00:17:25,960 Speaker 1: it is, but it is so much more than that. 349 00:17:26,320 --> 00:17:28,360 Speaker 1: It's going to be so much more. Kind of going 350 00:17:28,359 --> 00:17:30,760 Speaker 1: back to even the Internet in the early nineties, it 351 00:17:30,800 --> 00:17:33,200 Speaker 1: was kind of a way to send electronic messages. Sure, 352 00:17:34,080 --> 00:17:36,840 Speaker 1: it was kind of a way to have like chatboards. Sure, 353 00:17:37,160 --> 00:17:39,120 Speaker 1: but today we have like our car hooked to something 354 00:17:39,160 --> 00:17:41,320 Speaker 1: called a cloud, using something called social media to like 355 00:17:41,400 --> 00:17:44,119 Speaker 1: navigate us around traffic. Right, it's so much bigger. And 356 00:17:44,160 --> 00:17:48,480 Speaker 1: so what one of the revolutionary things about bitcoin is 357 00:17:48,480 --> 00:17:52,760 Speaker 1: that it allows me to custody take custody of my 358 00:17:52,880 --> 00:17:57,919 Speaker 1: own personal private property. And that is a massive shift. 359 00:17:58,080 --> 00:18:00,320 Speaker 1: I want to tell you just how big of a 360 00:18:00,359 --> 00:18:02,880 Speaker 1: shift that is. And this is one of the key 361 00:18:02,920 --> 00:18:06,560 Speaker 1: pieces that will literally transform humanity. That's how big this 362 00:18:06,600 --> 00:18:08,439 Speaker 1: is gonna be. So I'll break that down for you, 363 00:18:08,480 --> 00:18:11,120 Speaker 1: and of course you'll understand where the price of bitcoin 364 00:18:11,320 --> 00:18:13,879 Speaker 1: will go based off that information. You're listening to Mark Moss, 365 00:18:13,920 --> 00:18:16,000 Speaker 1: I'll be right back, all right, welcome back. You are 366 00:18:16,040 --> 00:18:18,520 Speaker 1: listening to the Mark Mass Show, where I bring to 367 00:18:18,560 --> 00:18:21,879 Speaker 1: you the latest information on bitcoin and cryptocurrencies and this 368 00:18:22,040 --> 00:18:26,840 Speaker 1: decentralized revolution that we are going through right now. Um. 369 00:18:26,840 --> 00:18:29,280 Speaker 1: And before the break, I was talking to you about 370 00:18:29,320 --> 00:18:31,160 Speaker 1: the price of bitcoin, you know, or at above fifty 371 00:18:31,160 --> 00:18:32,960 Speaker 1: eight dollars. We haven't been at that level for a 372 00:18:33,040 --> 00:18:35,600 Speaker 1: long time. I'm talking about how the short term price 373 00:18:35,680 --> 00:18:37,720 Speaker 1: is a little bit of a distraction. But then we're 374 00:18:37,720 --> 00:18:39,840 Speaker 1: looking at some of the metrics that we're driving that price. 375 00:18:39,840 --> 00:18:41,919 Speaker 1: We're talking about e t f s in the betting markets, 376 00:18:41,920 --> 00:18:45,320 Speaker 1: they show they have about chance of being approved and 377 00:18:45,320 --> 00:18:47,399 Speaker 1: what that will do to the markets. UM. I was 378 00:18:47,440 --> 00:18:49,640 Speaker 1: explaining to you two reasons why I'm not a big 379 00:18:49,640 --> 00:18:51,199 Speaker 1: fan of the e t F. The first one that 380 00:18:51,240 --> 00:18:54,280 Speaker 1: it creates this kind of fake paper market like we've 381 00:18:54,280 --> 00:18:56,800 Speaker 1: seen happen in the gold markets. Um. But but what 382 00:18:56,840 --> 00:18:58,840 Speaker 1: I was just getting into before the break was talking 383 00:18:58,880 --> 00:19:05,760 Speaker 1: about how revolutionary bitcoin is and so um. One of 384 00:19:05,840 --> 00:19:09,719 Speaker 1: the many revolutionary things about bitcoin is for the first time, 385 00:19:10,200 --> 00:19:14,040 Speaker 1: it allows me to hold my private property, take custody 386 00:19:14,040 --> 00:19:16,239 Speaker 1: of that, and hold it in a way that I 387 00:19:16,280 --> 00:19:20,200 Speaker 1: can secure it, I can protect it, and nobody can 388 00:19:20,200 --> 00:19:22,720 Speaker 1: take it from me and I can take it with 389 00:19:22,760 --> 00:19:26,280 Speaker 1: me anywhere I want to go. This is revolutionary. Now, 390 00:19:26,320 --> 00:19:30,960 Speaker 1: think about probably the oldest problem that man has, may 391 00:19:31,200 --> 00:19:33,639 Speaker 1: may one of the oldest problems, if not the oldest. 392 00:19:33,640 --> 00:19:36,439 Speaker 1: One of the oldest problems is that I'm afraid somebody 393 00:19:36,440 --> 00:19:40,120 Speaker 1: will come and steal my property. So, um, somebody's gonna come, 394 00:19:40,160 --> 00:19:42,439 Speaker 1: you know, kill me and take my chickens. So me 395 00:19:42,520 --> 00:19:44,800 Speaker 1: and my neighbor partner together. And then some were afraid 396 00:19:44,840 --> 00:19:47,199 Speaker 1: someone's gonna come take our chickens and our goats. So 397 00:19:47,240 --> 00:19:49,240 Speaker 1: then we form a village. And now we're afraid the 398 00:19:49,320 --> 00:19:50,920 Speaker 1: village is going to come, So then we make a kingdom, 399 00:19:50,920 --> 00:19:53,160 Speaker 1: and then we make a government. And you get the idea. 400 00:19:53,960 --> 00:19:57,919 Speaker 1: We have been trying to protect our property since the 401 00:19:57,920 --> 00:20:00,719 Speaker 1: beginning of time, and the more property you have, the 402 00:20:00,760 --> 00:20:03,520 Speaker 1: harder it is to secure it. If you have enough gold, 403 00:20:03,880 --> 00:20:05,560 Speaker 1: you have to build a vault, you need to have 404 00:20:05,640 --> 00:20:09,040 Speaker 1: full time security, and that's very expensive. And then how 405 00:20:09,080 --> 00:20:11,040 Speaker 1: do you move that gold. What if I decide I 406 00:20:11,040 --> 00:20:14,280 Speaker 1: want to move that gold across the sea, Well, uh, 407 00:20:14,320 --> 00:20:16,560 Speaker 1: that's very slow, it's very expensive. The ship could sink. 408 00:20:16,600 --> 00:20:18,200 Speaker 1: We have lots of golds in the bottom of the ocean, 409 00:20:18,480 --> 00:20:22,480 Speaker 1: and so I'm securing my wealth, my value, my property 410 00:20:22,600 --> 00:20:27,439 Speaker 1: is like the oldest problem we have. Bitcoin has revolutionized that. 411 00:20:27,560 --> 00:20:30,119 Speaker 1: For the first time in history, I can store my wealth, 412 00:20:30,200 --> 00:20:35,119 Speaker 1: my value, my money in a way that's cryptographically secured. 413 00:20:35,480 --> 00:20:38,199 Speaker 1: And what that means is that I don't need to 414 00:20:38,320 --> 00:20:41,080 Speaker 1: build a vault, a castle, I don't need an army 415 00:20:41,119 --> 00:20:43,280 Speaker 1: to protect that. I literally need nothing. It costs me 416 00:20:43,400 --> 00:20:46,320 Speaker 1: no money, and I can secure all the wealth that 417 00:20:46,400 --> 00:20:48,399 Speaker 1: I have, hundreds of billions of dollars if I've had it, 418 00:20:49,000 --> 00:20:51,359 Speaker 1: and then on top of it, no one can take 419 00:20:51,359 --> 00:20:53,920 Speaker 1: it from me, and then on top of that, I 420 00:20:53,960 --> 00:20:57,840 Speaker 1: can take it with me anywhere I want. Now, when 421 00:20:57,880 --> 00:21:00,600 Speaker 1: you take away the oldest problem that man has had, 422 00:21:00,760 --> 00:21:03,879 Speaker 1: which is how do I secure my wealth, and you 423 00:21:04,400 --> 00:21:09,600 Speaker 1: get rid of that problem, how does that change the future. Well, again, 424 00:21:09,680 --> 00:21:11,919 Speaker 1: humans aren't really good at predicting the future. All we 425 00:21:11,920 --> 00:21:13,760 Speaker 1: can do is imagine better versions if we have today. 426 00:21:13,960 --> 00:21:16,720 Speaker 1: So I can't tell you every way this changes the future, 427 00:21:16,760 --> 00:21:18,960 Speaker 1: but I can tell you it's going to be big. 428 00:21:19,200 --> 00:21:21,560 Speaker 1: It's going to be really big. And so because we 429 00:21:21,680 --> 00:21:23,919 Speaker 1: have that shift where now we can hold our value, 430 00:21:23,960 --> 00:21:26,080 Speaker 1: we can store it, nobody can steal it from us 431 00:21:26,119 --> 00:21:28,000 Speaker 1: and I can take it with me anywhere. That's the 432 00:21:28,040 --> 00:21:33,359 Speaker 1: revolution revolutionary aspect. Then everybody should be doing that. You 433 00:21:33,400 --> 00:21:36,160 Speaker 1: should do it. I'm doing it, and everybody else should 434 00:21:36,200 --> 00:21:39,640 Speaker 1: as well. And so if you're behind bitcoin through an 435 00:21:39,640 --> 00:21:44,320 Speaker 1: e t F, you're not taking delivery of the bitcoin. 436 00:21:44,359 --> 00:21:46,760 Speaker 1: You don't even own bitcoin. All you're doing is getting 437 00:21:46,840 --> 00:21:52,239 Speaker 1: exposure to the price. And so that reason, that and 438 00:21:52,320 --> 00:21:55,560 Speaker 1: the paper paper access to the to the bitcoin are 439 00:21:55,600 --> 00:21:57,800 Speaker 1: two big reasons why I'm not big fans of the 440 00:21:57,800 --> 00:21:59,760 Speaker 1: e t F coming now. UM. Some of e t 441 00:21:59,880 --> 00:22:02,199 Speaker 1: F say they would be physically settled, and so that 442 00:22:02,240 --> 00:22:06,439 Speaker 1: means if I buy the bitcoin UM, then uh and 443 00:22:06,480 --> 00:22:09,040 Speaker 1: I and I went, I could actually take delivery of it. 444 00:22:09,440 --> 00:22:11,560 Speaker 1: But most of them will be cash settled, and so 445 00:22:11,680 --> 00:22:14,520 Speaker 1: that's a problem. But anyway, UM, back to the price 446 00:22:14,560 --> 00:22:16,560 Speaker 1: going up. Like I said, the betting markets are saying 447 00:22:16,600 --> 00:22:20,000 Speaker 1: it's about chance we see one go through UM, and 448 00:22:20,440 --> 00:22:23,080 Speaker 1: I think they're onto something. Like I said, the market 449 00:22:23,160 --> 00:22:25,480 Speaker 1: cap is over one trillion dollars, which makes it a 450 00:22:25,480 --> 00:22:27,880 Speaker 1: big enough asset to do that with. And the new 451 00:22:27,920 --> 00:22:31,359 Speaker 1: head of the SEC, Gary ginsler Um is, like I said, 452 00:22:31,400 --> 00:22:33,439 Speaker 1: he used to teach at M I t as a 453 00:22:33,440 --> 00:22:37,560 Speaker 1: professor on bitcoin, so he's definitely a very bitcoin friendly. UM. 454 00:22:37,560 --> 00:22:39,320 Speaker 1: So those are two reasons why I think we're really 455 00:22:39,359 --> 00:22:41,720 Speaker 1: seeing the price shoot up. By the way, you're listening 456 00:22:41,800 --> 00:22:43,959 Speaker 1: to the Mark Moss Show, and I bring to you 457 00:22:44,000 --> 00:22:47,720 Speaker 1: the latest in bitcoin, cryptocurrency information and news each and 458 00:22:47,760 --> 00:22:50,280 Speaker 1: every week. Bookmark it on your calendar. Follow me on 459 00:22:50,320 --> 00:22:53,280 Speaker 1: Twitter at one Mark Moss, send me a tweet and 460 00:22:53,280 --> 00:22:56,760 Speaker 1: I'll answer your question next week. Um. And so that's 461 00:22:56,800 --> 00:22:58,920 Speaker 1: one of the big catalyst that's happening. But there's lots 462 00:22:58,960 --> 00:23:02,640 Speaker 1: of other things going on now. Um. In the kind 463 00:23:02,640 --> 00:23:05,440 Speaker 1: of the famous quote of I think it was Gandhi 464 00:23:05,520 --> 00:23:08,160 Speaker 1: that said, you know, first they ignore you, then they 465 00:23:08,240 --> 00:23:11,240 Speaker 1: laugh at you, um, then they try to fight you. Um. 466 00:23:11,359 --> 00:23:12,639 Speaker 1: Kind of a kind of a narrative, and then they 467 00:23:12,720 --> 00:23:14,800 Speaker 1: join you. Um. And we've kind of seen the same 468 00:23:14,800 --> 00:23:17,600 Speaker 1: thing happen with bitcoin over the last eleven years. And so, 469 00:23:17,720 --> 00:23:19,879 Speaker 1: you know, at first ignored bitcoin and so bitcoin was 470 00:23:19,920 --> 00:23:22,320 Speaker 1: ignored for six seven years, kind of just left alone, 471 00:23:22,400 --> 00:23:26,040 Speaker 1: left to kind of grow do their thing. By we 472 00:23:26,040 --> 00:23:30,520 Speaker 1: started seeing people laugh at bitcoin. It's a joke, it's stupid, 473 00:23:30,680 --> 00:23:33,479 Speaker 1: it will never be anything. It's a fat all these things. Um, 474 00:23:33,520 --> 00:23:35,040 Speaker 1: then we got to the point where they started to 475 00:23:35,040 --> 00:23:38,080 Speaker 1: fight it. UM. So we've seen China now has banned 476 00:23:38,080 --> 00:23:41,480 Speaker 1: bitcoin I think nine times now. UM. Other countries have 477 00:23:41,600 --> 00:23:43,320 Speaker 1: thought about it as well, try to do things to 478 00:23:43,359 --> 00:23:46,520 Speaker 1: fight it. Um. And now we're at the final stage 479 00:23:46,560 --> 00:23:50,040 Speaker 1: of that famous quote, which is then they join you 480 00:23:50,600 --> 00:23:53,680 Speaker 1: and so, UM, what what does that mean? Well, we've 481 00:23:53,680 --> 00:23:57,600 Speaker 1: seen first the individuals have started buying bitcoin, storing their 482 00:23:57,640 --> 00:24:01,120 Speaker 1: wealth in bitcoin. It's now my reserve as set. Then 483 00:24:01,200 --> 00:24:03,359 Speaker 1: we started to see over the last year year and 484 00:24:03,359 --> 00:24:08,240 Speaker 1: a half, um, fortune five hundred companies, publicly traded companies 485 00:24:08,280 --> 00:24:12,639 Speaker 1: like micro Strategy actually take their savings what's what they 486 00:24:12,680 --> 00:24:15,880 Speaker 1: would call their treasury reserve and put that into bitcoin. 487 00:24:16,040 --> 00:24:18,320 Speaker 1: So it went from people like you and I, then 488 00:24:18,320 --> 00:24:20,960 Speaker 1: it went to like investors, maybe some hedge fund guys. 489 00:24:21,040 --> 00:24:25,000 Speaker 1: Now it went to publicly traded corporations, and then we 490 00:24:25,040 --> 00:24:28,000 Speaker 1: went to countries. So we've seen El Salvador be the 491 00:24:28,119 --> 00:24:31,240 Speaker 1: very first country to adopt bitcoin as a legal tender. 492 00:24:31,840 --> 00:24:34,880 Speaker 1: And um, when they did that, they launched their own 493 00:24:34,920 --> 00:24:38,240 Speaker 1: wallet's called achiev a wallet, and then a chiev a wallet. Um, 494 00:24:38,280 --> 00:24:42,000 Speaker 1: that's how everybody could get access to bitcoin. They gave 495 00:24:42,119 --> 00:24:46,080 Speaker 1: everybody in the country who downloaded that wallet thirty dollars 496 00:24:46,080 --> 00:24:49,800 Speaker 1: in bitcoin just for downloading it. So, um, hey, congratulations, 497 00:24:49,800 --> 00:24:52,439 Speaker 1: you're an El Salvador citizen. Here's your new wallet, and 498 00:24:52,480 --> 00:24:55,920 Speaker 1: here's thirty dollars in bitcoin. Now, depending on where where 499 00:24:55,920 --> 00:24:57,320 Speaker 1: you're at in the world, most likely here in the 500 00:24:57,400 --> 00:25:00,240 Speaker 1: United States listening to this right now, Uh, thirty dos 501 00:25:00,320 --> 00:25:02,639 Speaker 1: may not sound like that much, but when you're in 502 00:25:02,720 --> 00:25:05,920 Speaker 1: El Salvador, I can guarantee you that's a lot of money. 503 00:25:05,960 --> 00:25:07,600 Speaker 1: It could be a it could be a whole week's 504 00:25:07,640 --> 00:25:10,480 Speaker 1: worth of wages for somebody. So imagine however much money 505 00:25:10,480 --> 00:25:12,960 Speaker 1: you make if if your government gave you a week's 506 00:25:12,960 --> 00:25:15,880 Speaker 1: worth of wages for free, probably the stimmy that's been 507 00:25:15,920 --> 00:25:17,560 Speaker 1: being sent out for the last year, you know, getting 508 00:25:17,560 --> 00:25:20,159 Speaker 1: your extra six d bucks or something like that. And 509 00:25:20,200 --> 00:25:23,240 Speaker 1: so everybody got thirty dollars in bitcoin. Now, what's interesting 510 00:25:23,240 --> 00:25:26,240 Speaker 1: about that is if I don't know how many did, 511 00:25:26,320 --> 00:25:28,480 Speaker 1: I don't have the data on the percentage of what 512 00:25:28,520 --> 00:25:30,639 Speaker 1: the people did with it, But if they would have 513 00:25:30,720 --> 00:25:33,359 Speaker 1: held that bitcoin from the time it went legal tender, 514 00:25:33,440 --> 00:25:36,280 Speaker 1: which was I believe it was September seven, so just 515 00:25:36,320 --> 00:25:39,240 Speaker 1: about a month ago, Um, they would have now doubled 516 00:25:39,240 --> 00:25:41,960 Speaker 1: their money. They did now be sitting on sixty dollars 517 00:25:42,000 --> 00:25:44,520 Speaker 1: a bitcoin, which is pretty cool. Um. So we've seen that. 518 00:25:44,760 --> 00:25:47,359 Speaker 1: And now on top of that, so remember the they 519 00:25:47,400 --> 00:25:50,119 Speaker 1: ignore you, they laugh at you, they fight you, and 520 00:25:50,160 --> 00:25:52,560 Speaker 1: then they join you. So now we've seen people, we've 521 00:25:52,600 --> 00:25:56,880 Speaker 1: seen investors, hedge funds, we've seen publicly traded corporations. Uh, 522 00:25:56,960 --> 00:26:00,920 Speaker 1: now we're seeing countries, countries. That's a big deal by 523 00:26:00,920 --> 00:26:02,840 Speaker 1: the way. You listen to the Mark Mass show, um, 524 00:26:02,880 --> 00:26:05,639 Speaker 1: and we're seeing countries at dot bitcoin and that is 525 00:26:05,960 --> 00:26:10,040 Speaker 1: starting to trigger a domino effect. So we saw just 526 00:26:10,080 --> 00:26:12,760 Speaker 1: a couple of days ago that now bitcoin is set 527 00:26:12,800 --> 00:26:16,520 Speaker 1: to become legal payments in Brazil. So the Brazilian brazil 528 00:26:16,680 --> 00:26:20,400 Speaker 1: Federal Deputy or A Ribeiro, has revealed that Brazilians could 529 00:26:20,400 --> 00:26:23,920 Speaker 1: soon be able to buy houses, cars, and yes, even 530 00:26:24,000 --> 00:26:28,480 Speaker 1: McDonald's with bitcoin. The South American nation is preparing to 531 00:26:28,600 --> 00:26:32,320 Speaker 1: vote on a cryptocurrency regulation bill, which is expected to 532 00:26:32,320 --> 00:26:35,560 Speaker 1: be presented to the Planary of the Chamber of Deputies 533 00:26:35,560 --> 00:26:38,040 Speaker 1: within the next couple of days. Um. And so they 534 00:26:38,080 --> 00:26:41,600 Speaker 1: want to create basically the same thing that El Salvador 535 00:26:41,640 --> 00:26:44,399 Speaker 1: has done and they're not the only ones now. UM. 536 00:26:44,440 --> 00:26:47,720 Speaker 1: If you think what UM El Salvador did is cool, UM, 537 00:26:47,760 --> 00:26:52,520 Speaker 1: the population of Brazil is like ten x the size 538 00:26:52,680 --> 00:26:56,200 Speaker 1: of El Salvador. UM. And then we've we're seeing other 539 00:26:56,280 --> 00:27:00,000 Speaker 1: countries come on board with it and there is even 540 00:27:00,080 --> 00:27:03,320 Speaker 1: more UM. I want to talk about that now. Some 541 00:27:03,359 --> 00:27:05,840 Speaker 1: of the things why these countries want to adopt it 542 00:27:05,920 --> 00:27:08,760 Speaker 1: is for a couple of reasons. One what we've seen 543 00:27:08,880 --> 00:27:11,720 Speaker 1: is in El Salvador since they've opened this up a 544 00:27:11,760 --> 00:27:17,040 Speaker 1: month ago, they've had massive interests of investors coming into 545 00:27:17,080 --> 00:27:20,720 Speaker 1: the markets UM to come into El Salvador, set up businesses, 546 00:27:20,960 --> 00:27:24,000 Speaker 1: to buy real estate, to start moving people down there. 547 00:27:24,400 --> 00:27:28,200 Speaker 1: And they've they've they've they've brought all this investment into 548 00:27:28,240 --> 00:27:30,840 Speaker 1: their country. And of course other countries are watching this 549 00:27:30,920 --> 00:27:34,120 Speaker 1: and they want to bring all that investment as well. 550 00:27:34,720 --> 00:27:37,040 Speaker 1: But again, it's not just about money. I want to 551 00:27:37,040 --> 00:27:40,120 Speaker 1: tell you what it's actually doing to change people's lives UM. 552 00:27:40,200 --> 00:27:43,720 Speaker 1: And when you understand how big it's changing people's lives there, 553 00:27:43,720 --> 00:27:47,320 Speaker 1: you're gonna have a totally totally different perspective and it's 554 00:27:47,320 --> 00:27:49,439 Speaker 1: going to make this seem way bigger than it is. 555 00:27:49,600 --> 00:27:51,359 Speaker 1: So I'm gonna talk about that as soon as I 556 00:27:51,440 --> 00:27:53,800 Speaker 1: come back. You're listening to the Mark Moa Show. All right, 557 00:27:53,840 --> 00:27:56,160 Speaker 1: welcome back. You are listening to the Mark Moss Show, 558 00:27:56,200 --> 00:27:59,880 Speaker 1: and I'm bringing you the latest in information in new 559 00:28:00,480 --> 00:28:03,359 Speaker 1: that you need for Bitcoin, for cryptocurrencies, and for this 560 00:28:03,520 --> 00:28:07,200 Speaker 1: decentralized revolution that's going on. I continue to tell you 561 00:28:07,280 --> 00:28:10,400 Speaker 1: over and over this is not just a new technology. 562 00:28:10,440 --> 00:28:13,240 Speaker 1: It's not a fad, it's not something passing. This will 563 00:28:13,280 --> 00:28:16,399 Speaker 1: literally change the way the world works. It will change 564 00:28:16,440 --> 00:28:19,200 Speaker 1: the direction of the world. Now, we've gone through quite 565 00:28:19,200 --> 00:28:21,159 Speaker 1: a bit so far. UM. If you if you're just 566 00:28:21,200 --> 00:28:23,919 Speaker 1: tuning in, uh, don't miss next week. Put on your 567 00:28:23,960 --> 00:28:26,280 Speaker 1: calendar right now. But we've gone through talking about, you know, 568 00:28:26,280 --> 00:28:28,479 Speaker 1: the bitcoin price. We started talking about e t f s, 569 00:28:28,880 --> 00:28:30,480 Speaker 1: talked about some things that I do and don't like 570 00:28:30,480 --> 00:28:32,040 Speaker 1: about the e t f s UM. Then we started 571 00:28:32,040 --> 00:28:34,199 Speaker 1: talking about and how first it was people using it, 572 00:28:34,280 --> 00:28:37,600 Speaker 1: then then hedge funds, investors, publicly traded companies, and now 573 00:28:37,680 --> 00:28:41,040 Speaker 1: we're seeing countries talking about Al salvador UM. Now Brazil's 574 00:28:41,040 --> 00:28:42,680 Speaker 1: announcing that they want to come on board with it. 575 00:28:42,960 --> 00:28:45,040 Speaker 1: We're seeing about four or five other countries talking about 576 00:28:45,040 --> 00:28:47,080 Speaker 1: the same so now you're kind of caught up. But 577 00:28:47,160 --> 00:28:49,760 Speaker 1: I want to tell you one thing that that most 578 00:28:49,840 --> 00:28:53,280 Speaker 1: people just don't understand. Um, and I have to kind 579 00:28:53,320 --> 00:28:56,080 Speaker 1: of admit that maybe I didn't even understand it either. 580 00:28:56,280 --> 00:28:58,400 Speaker 1: Now I say that with a little bit of embarrassment, 581 00:28:58,400 --> 00:29:00,560 Speaker 1: and maybe I shouldn't have that embarrassment, but it I 582 00:29:00,720 --> 00:29:04,200 Speaker 1: travel a lot. I've been traveling the world for a 583 00:29:04,280 --> 00:29:07,880 Speaker 1: long time, pretty much my entire adult life. Part of 584 00:29:07,920 --> 00:29:10,040 Speaker 1: the reason why because I'm a surfer, and so I'm 585 00:29:10,080 --> 00:29:13,400 Speaker 1: constantly chasing waves all around the world. And as a surfer, 586 00:29:13,680 --> 00:29:16,520 Speaker 1: you're trying to go to the most remote locations that 587 00:29:16,600 --> 00:29:19,400 Speaker 1: you can. The farther you go off the beaten path, 588 00:29:19,520 --> 00:29:22,920 Speaker 1: the more remote the location is, hopefully the less people 589 00:29:22,920 --> 00:29:24,480 Speaker 1: that are there. And so you're always trying to get to, 590 00:29:24,560 --> 00:29:26,640 Speaker 1: you know, remote locations. And so because of that, I've 591 00:29:26,680 --> 00:29:30,160 Speaker 1: gone through lots of very poor countries with very bad 592 00:29:30,200 --> 00:29:32,760 Speaker 1: infrastructure things like that, and so, UM, I tell you, 593 00:29:32,760 --> 00:29:34,120 Speaker 1: I stay, I have a little bit of embarrassment. I 594 00:29:34,120 --> 00:29:36,880 Speaker 1: didn't know this because I have that perspective. I've traveled 595 00:29:36,920 --> 00:29:38,880 Speaker 1: to these countries, but I just haven't necessarily looked at 596 00:29:38,920 --> 00:29:41,040 Speaker 1: them through the through the proper lens and so, UM, 597 00:29:41,080 --> 00:29:42,560 Speaker 1: I've been down to al Sova or a couple of 598 00:29:42,600 --> 00:29:45,920 Speaker 1: times surfing. Um I was recently down there, UM just 599 00:29:45,960 --> 00:29:48,800 Speaker 1: a few months ago. Um, once this law came through 600 00:29:49,120 --> 00:29:51,720 Speaker 1: that they're making bitcoin legal tender. And so I was 601 00:29:51,840 --> 00:29:54,640 Speaker 1: there and UM, I'm I'm working on a project to 602 00:29:54,680 --> 00:29:57,200 Speaker 1: take jobs down there. I'm not gonna get super deep 603 00:29:57,200 --> 00:30:00,280 Speaker 1: into that, but UM, what what I noticed when I 604 00:30:00,320 --> 00:30:04,840 Speaker 1: was there that just changed my perspective on this is that, Um, 605 00:30:04,960 --> 00:30:07,920 Speaker 1: you may not know, but per the u N, there's 606 00:30:07,960 --> 00:30:12,200 Speaker 1: about two billion adults in the world today that have 607 00:30:12,440 --> 00:30:16,840 Speaker 1: no access to financial services. Two billion adults. Now there's 608 00:30:16,880 --> 00:30:20,880 Speaker 1: approximately seven and a half, maybe closer to eight billion 609 00:30:21,000 --> 00:30:23,880 Speaker 1: people in the world. That's from babies to you know, 610 00:30:24,040 --> 00:30:27,280 Speaker 1: old people elderly, and so if there's two billion adults, 611 00:30:27,320 --> 00:30:29,120 Speaker 1: you know, that's probably a little bit more than half 612 00:30:29,440 --> 00:30:33,880 Speaker 1: of the world have no access to the financial services, 613 00:30:33,960 --> 00:30:35,960 Speaker 1: to the financial markets of the world. And so at 614 00:30:36,000 --> 00:30:39,560 Speaker 1: a time when the entire world is screaming for equality, 615 00:30:39,640 --> 00:30:43,960 Speaker 1: equality of everything, right, equality of income equality and uh, 616 00:30:44,160 --> 00:30:47,680 Speaker 1: you know, gender equality and every equality that you can imagine, 617 00:30:48,160 --> 00:30:50,640 Speaker 1: at a time when the whole world is screaming that 618 00:30:50,760 --> 00:30:54,440 Speaker 1: everything must be fair. We have two billion adults that 619 00:30:54,520 --> 00:30:57,520 Speaker 1: have no access to the financial system, and if they 620 00:30:57,520 --> 00:30:59,600 Speaker 1: have no acts to the financial system, how can that 621 00:30:59,640 --> 00:31:02,480 Speaker 1: be fair? There's no equality. But a lot of people, 622 00:31:02,560 --> 00:31:05,080 Speaker 1: unfortunately today are starting to talking about equality of an outcome, 623 00:31:05,360 --> 00:31:08,200 Speaker 1: meaning we should all have the same thing at the end. 624 00:31:08,800 --> 00:31:13,320 Speaker 1: That's ridiculous, that's dangerous, and I reject that. But we 625 00:31:13,360 --> 00:31:17,680 Speaker 1: should at least have equality of an opportunity. We should 626 00:31:17,800 --> 00:31:21,400 Speaker 1: all at least have the opportunity to get ahead. And 627 00:31:21,440 --> 00:31:24,840 Speaker 1: when you have two billion adults who don't even have 628 00:31:25,040 --> 00:31:29,280 Speaker 1: access to the financial system, they do not have equality 629 00:31:29,360 --> 00:31:33,960 Speaker 1: of a of an opportunity. Now why why do they 630 00:31:34,040 --> 00:31:37,760 Speaker 1: not have that? Why why can't they get into the 631 00:31:37,760 --> 00:31:42,760 Speaker 1: financial system? Well they're not allowed to. They're not allowed to, 632 00:31:43,080 --> 00:31:45,680 Speaker 1: that's right. So let me explain what I mean. So, um, 633 00:31:45,760 --> 00:31:50,320 Speaker 1: in order to get a bank account, um, because you know, 634 00:31:50,400 --> 00:31:52,760 Speaker 1: you're a couple hundred bucks could lead to terrorism and 635 00:31:52,800 --> 00:31:54,840 Speaker 1: do all these bad things. Never mind the you know, 636 00:31:54,920 --> 00:31:57,320 Speaker 1: palettes of hundreds of millions of dollars that we've given 637 00:31:57,360 --> 00:32:00,000 Speaker 1: to actual terrorist countries. But your a couple hundred bucks 638 00:32:00,000 --> 00:32:02,520 Speaker 1: good lead to terrorism. And so you are you're under 639 00:32:02,560 --> 00:32:05,640 Speaker 1: this heavy, heavy restriction of two things. It's called k 640 00:32:05,880 --> 00:32:08,640 Speaker 1: y C, Know your Customer and a m L, which 641 00:32:08,680 --> 00:32:11,520 Speaker 1: is anti money laundering, And so all the banks around 642 00:32:11,560 --> 00:32:13,560 Speaker 1: the world have to comply with these two things, k 643 00:32:13,720 --> 00:32:15,720 Speaker 1: y C and a m L. If you've ever gone 644 00:32:15,720 --> 00:32:18,160 Speaker 1: to open up a bank account, you'll know the amount 645 00:32:18,280 --> 00:32:21,120 Speaker 1: of paperwork that you have to put together to open one, 646 00:32:21,280 --> 00:32:23,440 Speaker 1: and it's it's very difficult. Now, that's difficult for you 647 00:32:23,440 --> 00:32:25,320 Speaker 1: in the United States, but when you live in one 648 00:32:25,320 --> 00:32:28,760 Speaker 1: of these third world countries, you don't even have the 649 00:32:28,840 --> 00:32:32,360 Speaker 1: information to give them, so they can't really do the 650 00:32:32,480 --> 00:32:35,360 Speaker 1: k y C or a m L on you. Uh. 651 00:32:35,400 --> 00:32:37,600 Speaker 1: That's one big problem. Another problem is that there's a 652 00:32:37,640 --> 00:32:39,680 Speaker 1: lot of parts of the world where people aren't allowed. 653 00:32:39,840 --> 00:32:43,440 Speaker 1: They're not given permission. So our financial system is called permission. 654 00:32:43,520 --> 00:32:47,120 Speaker 1: It's a permission system. You have to be allowed to 655 00:32:47,120 --> 00:32:49,239 Speaker 1: be given permission to join it. Now, there's a lot 656 00:32:49,280 --> 00:32:52,240 Speaker 1: of people around the world that don't have permission, can't 657 00:32:52,240 --> 00:32:55,640 Speaker 1: get permission. Why. Well, let's say that you're a fifteen 658 00:32:55,720 --> 00:32:58,000 Speaker 1: year old kid and you just happen to grow up 659 00:32:58,040 --> 00:33:03,440 Speaker 1: in uh Iran, and you started a little uh Instagram 660 00:33:03,480 --> 00:33:06,400 Speaker 1: account and you want to start selling some pet supplies 661 00:33:06,520 --> 00:33:09,320 Speaker 1: or whatever. I don't know. Well, you can't join the 662 00:33:09,320 --> 00:33:13,400 Speaker 1: financial system because you were born in Iran and Iran sanctioned. 663 00:33:14,240 --> 00:33:16,280 Speaker 1: You maybe had never anything to do with what's going 664 00:33:16,320 --> 00:33:18,360 Speaker 1: on in the country, but because you were born there, 665 00:33:18,640 --> 00:33:21,120 Speaker 1: you don't get to join the financial system of the world. 666 00:33:21,200 --> 00:33:22,800 Speaker 1: And so there's lots of countries that have that problem. 667 00:33:22,880 --> 00:33:27,080 Speaker 1: The other problem, going back to El Salvador, is that 668 00:33:27,480 --> 00:33:30,880 Speaker 1: while El Salvadorians used the US dollar, they are allowed 669 00:33:30,920 --> 00:33:33,040 Speaker 1: to get into the into the banking system, the world 670 00:33:33,040 --> 00:33:37,120 Speaker 1: financial system. The problem for them is that it's too expensive. 671 00:33:38,040 --> 00:33:41,800 Speaker 1: It's too expensive. So again, um, you have to understand 672 00:33:41,840 --> 00:33:45,160 Speaker 1: that El Salvador and most essential America is very poor, 673 00:33:45,920 --> 00:33:47,760 Speaker 1: as as most of the world is. So um. El 674 00:33:47,840 --> 00:33:50,200 Speaker 1: Salvador is ranked I believe a hundred and seven on 675 00:33:50,400 --> 00:33:54,360 Speaker 1: Global GDP, so out of about hundred eight d ninety countries. 676 00:33:54,400 --> 00:33:57,800 Speaker 1: There in the bottom half of that. And you may 677 00:33:57,840 --> 00:34:00,920 Speaker 1: not know this, but about half the war world lives 678 00:34:00,960 --> 00:34:04,480 Speaker 1: on less than five dollars a day. A half half 679 00:34:04,520 --> 00:34:06,360 Speaker 1: the world lives on less than five dollars day. About 680 00:34:06,400 --> 00:34:09,000 Speaker 1: seventy five percent of the world lives on less than ten. 681 00:34:10,520 --> 00:34:13,160 Speaker 1: So if you make more than ten dollars a day, 682 00:34:13,360 --> 00:34:15,799 Speaker 1: you're in the upper As a matter of fact, if 683 00:34:15,800 --> 00:34:17,239 Speaker 1: you're in the United States listening to this, which I'm 684 00:34:17,239 --> 00:34:20,720 Speaker 1: sure you're at this point, and you make the poverty line, 685 00:34:21,120 --> 00:34:23,720 Speaker 1: you're in the top of like one percent of the world. Anyway, 686 00:34:23,760 --> 00:34:26,160 Speaker 1: back to UM El Salvador. So um, you know, if 687 00:34:26,200 --> 00:34:28,680 Speaker 1: they make a couple hundred bucks a month, they're doing 688 00:34:28,760 --> 00:34:31,279 Speaker 1: really good. Well. The problem is is, just like in 689 00:34:31,280 --> 00:34:33,640 Speaker 1: the United States, it costs money to open up a 690 00:34:33,640 --> 00:34:36,960 Speaker 1: bank account. So you know, it could cost five bucks 691 00:34:37,000 --> 00:34:38,400 Speaker 1: a month or fifty bucks a month to open a 692 00:34:38,400 --> 00:34:40,400 Speaker 1: bank account. Now, the way it typically works in the 693 00:34:40,440 --> 00:34:43,480 Speaker 1: United States with Wells, Fargirl, Bank of America, JP, Morgan, etcetera, 694 00:34:44,000 --> 00:34:47,920 Speaker 1: is that if you keep a minimum balance, then that 695 00:34:48,160 --> 00:34:52,160 Speaker 1: is typically waved. Well, in El Salvador, they're paying twenty 696 00:34:52,239 --> 00:34:55,120 Speaker 1: five to fifty dollars per month for a bank account, 697 00:34:56,040 --> 00:34:59,120 Speaker 1: but they don't have the balances. They don't get those 698 00:34:59,160 --> 00:35:01,440 Speaker 1: fees waved, and so now it's going to cost them 699 00:35:01,480 --> 00:35:03,280 Speaker 1: up to fifty bucks a month of a bank account. 700 00:35:03,520 --> 00:35:06,759 Speaker 1: That could be half of their monthly pay. Can they 701 00:35:06,800 --> 00:35:09,279 Speaker 1: afford to spend could you afford to spend half of 702 00:35:09,320 --> 00:35:12,759 Speaker 1: your income? Just to have a bank account. Of course, 703 00:35:12,760 --> 00:35:15,640 Speaker 1: the answer is no, you can't. You wouldn't. And so 704 00:35:16,160 --> 00:35:18,520 Speaker 1: all of these people and people like that in this 705 00:35:18,600 --> 00:35:21,400 Speaker 1: low income bracket, even if they have permission, even if 706 00:35:21,400 --> 00:35:24,320 Speaker 1: they're allowed to join the global financial system, they can't. 707 00:35:24,680 --> 00:35:26,839 Speaker 1: And so all these people in al Sovadore, literally not 708 00:35:26,880 --> 00:35:28,759 Speaker 1: all of them, but people that are affected by this, 709 00:35:29,280 --> 00:35:32,560 Speaker 1: they don't have bank accounts. They can't join into the 710 00:35:32,560 --> 00:35:37,120 Speaker 1: global financial system. They can't use digital money. Now, um, 711 00:35:37,120 --> 00:35:39,120 Speaker 1: a lot of people still think of the dollars not 712 00:35:39,160 --> 00:35:42,759 Speaker 1: being digital, but about of all dollar transactions are done digital. Um. 713 00:35:42,760 --> 00:35:45,319 Speaker 1: I rarely carry cash around anymore. It's all being done 714 00:35:45,360 --> 00:35:47,200 Speaker 1: with debit cards or credit cards. You know, you're buying 715 00:35:47,200 --> 00:35:51,080 Speaker 1: stuff online, etcetera. And so these people have no way 716 00:35:51,120 --> 00:35:53,919 Speaker 1: to join the global finance system, no way to join 717 00:35:54,080 --> 00:35:56,719 Speaker 1: the digital payment system. Now that's on the that's on 718 00:35:56,760 --> 00:35:59,040 Speaker 1: the on the on the people, that's on the person's side. 719 00:35:59,239 --> 00:36:01,719 Speaker 1: What about the business, says, well, the businesses have a 720 00:36:01,840 --> 00:36:05,200 Speaker 1: very similar problem. The problem for the businesses is that 721 00:36:05,600 --> 00:36:08,520 Speaker 1: again you need to be on the global financial system, 722 00:36:08,560 --> 00:36:11,320 Speaker 1: you need to be uh into the digital payment realm, 723 00:36:11,760 --> 00:36:14,080 Speaker 1: and so um, a lot of the business is down 724 00:36:14,080 --> 00:36:15,960 Speaker 1: there in some of these areas. UM. You know this 725 00:36:16,120 --> 00:36:17,759 Speaker 1: help upoosa is on the side of the road or 726 00:36:17,800 --> 00:36:20,799 Speaker 1: coconuts or things like that. Um, and you need to 727 00:36:20,800 --> 00:36:24,280 Speaker 1: be doing anywhere from fifteen twenty thous dollars a month 728 00:36:24,440 --> 00:36:26,840 Speaker 1: to get a credit card system, a merchant accounts set up. 729 00:36:27,520 --> 00:36:31,240 Speaker 1: And uh, but most of them don't do that much business, 730 00:36:31,239 --> 00:36:33,640 Speaker 1: they don't do that much revenue, and so they're not 731 00:36:33,800 --> 00:36:36,360 Speaker 1: able to get a credit card system and merchant account 732 00:36:36,360 --> 00:36:38,960 Speaker 1: systems set up. And so basically what you have is 733 00:36:39,280 --> 00:36:42,879 Speaker 1: a huge segment of the population as consumers. They don't 734 00:36:42,880 --> 00:36:44,720 Speaker 1: have banking accounts, they're not on in the finance system, 735 00:36:44,800 --> 00:36:47,440 Speaker 1: and the merchants aren't able to join that. How can 736 00:36:47,520 --> 00:36:50,960 Speaker 1: you ever have equality? How could they ever bring their skills, 737 00:36:51,040 --> 00:36:54,640 Speaker 1: their products, their services to the global marketplace if they're 738 00:36:54,680 --> 00:36:58,400 Speaker 1: not allowed into the global financial system. That's not equal. 739 00:36:58,600 --> 00:37:01,680 Speaker 1: That's not equality. Now again I'm not going for equality 740 00:37:01,680 --> 00:37:04,680 Speaker 1: of an outcome, but that they don't even have an opportunity. Well, 741 00:37:04,760 --> 00:37:07,759 Speaker 1: guess what bitcoin fixes that, just like it fixes everything else. 742 00:37:07,800 --> 00:37:11,480 Speaker 1: So um. Bitcoin has now given bank accounts to millions 743 00:37:11,480 --> 00:37:14,760 Speaker 1: and millions of people within weeks that were not able 744 00:37:14,840 --> 00:37:18,080 Speaker 1: to get them and it's even bigger than that. Uh, 745 00:37:18,120 --> 00:37:19,959 Speaker 1: you're listening to the Mark Moa show where I'm talking 746 00:37:19,960 --> 00:37:23,319 Speaker 1: about bitcoin, cryptocurrencies and the decentralized revolution. When I come back, 747 00:37:23,560 --> 00:37:25,359 Speaker 1: I want to talk about some other catalysts that are 748 00:37:25,360 --> 00:37:29,080 Speaker 1: going to push bitcoins higher than you might ever imagine, 749 00:37:29,719 --> 00:37:30,400 Speaker 1: So stick with me.