WEBVTT - The Mark Moss Show Oct 18, 2021 0:00:00.080 --> 0:00:03.160 Hello, you are joining the Mark Moss Show, where I'm 0:00:03.160 --> 0:00:07.000 bringing to you the latest in news on bitcoin, cryptocurrencies 0:00:07.040 --> 0:00:10.600 and the decentralized revolution. I've been coming at you every 0:00:10.640 --> 0:00:13.680 single week bringing you the most up to date information, 0:00:13.720 --> 0:00:17.560 the information that you need to navigate this boom correctly. 0:00:17.600 --> 0:00:20.280 And I have to say that you need to understand 0:00:20.320 --> 0:00:22.680 just how important this is. Um, this is not just 0:00:23.640 --> 0:00:26.480 some new type of fad that's going to go away. 0:00:26.520 --> 0:00:29.880 This is not like many many people predicted some of 0:00:29.920 --> 0:00:33.640 this new technology, like Paul Krugman famously said that the 0:00:33.640 --> 0:00:35.720 fax machine would kind of go away as a fad. 0:00:35.800 --> 0:00:38.080 Even Bill Gates called the Internet a fad. Um, this 0:00:38.159 --> 0:00:41.040 is not a fad. This is what we call a 0:00:41.159 --> 0:00:45.080 technological revolution, not a new technology. So the difference of 0:00:45.120 --> 0:00:48.320 that as a new technology, you know, like the iPhone, 0:00:48.560 --> 0:00:51.720 like Uber, Airbnb, Um, those those are cool and if 0:00:51.720 --> 0:00:53.440 you catch them right, you can make some good money. 0:00:53.640 --> 0:00:56.040 And you know, they affect our lives a little bit. Um, 0:00:56.040 --> 0:01:00.240 a technological revolution is something so much bigger than it 0:01:00.280 --> 0:01:04.600 literally changes humanity, and it doesn't just change humanity. Technological 0:01:04.600 --> 0:01:08.640 revolutions drive financial markets. So not only will this change 0:01:08.680 --> 0:01:12.000 your life in every area, it also drives financial markets, 0:01:12.000 --> 0:01:14.000 and so if you get this right, it could be 0:01:14.080 --> 0:01:17.960 the single biggest opportunity of your lifetime. So I bring 0:01:18.000 --> 0:01:20.280 this information to each and every week so you'll have 0:01:20.920 --> 0:01:25.800 what you need to navigate this correctly. It's that important. 0:01:25.840 --> 0:01:27.600 So if you're listening right now, just go ahead and 0:01:27.600 --> 0:01:30.360 pull out your phone, put a bookmark on your calendar 0:01:30.440 --> 0:01:32.720 for this date, this time, and this station, and make 0:01:32.760 --> 0:01:35.080 sure you tune in with me each and every week. 0:01:35.560 --> 0:01:37.800 This is the information that you need, and I'm gonna 0:01:37.800 --> 0:01:40.199 bring it to you. Uh. My name is Mark Moss. Again. 0:01:40.280 --> 0:01:43.360 You can follow me on Twitter at one Mark Moss. 0:01:43.400 --> 0:01:45.399 That's at one Mark Moss. Tweet at me. Let me 0:01:45.400 --> 0:01:46.920 know you heard me on the radio. Ask me a question. 0:01:46.959 --> 0:01:50.440 I'll make sure to answer it next week. Now jumping 0:01:50.520 --> 0:01:52.600 into some of the news, I have a lot of 0:01:52.640 --> 0:01:55.520 stuff planned for you this uh, this episode, this show, 0:01:55.600 --> 0:01:58.960 so make sure you stick around. UM. I have a 0:01:59.000 --> 0:02:00.600 bunch of news that I won't want to talk about 0:02:00.640 --> 0:02:02.280 as far as what's going on with the price. We're 0:02:02.280 --> 0:02:05.640 gonna talk about some huge, huge, huge regulations that are 0:02:05.640 --> 0:02:07.880 happening that are going to blow things wide open. We're 0:02:07.880 --> 0:02:12.160 gonna talk about some information we'll call it that. We 0:02:12.280 --> 0:02:14.160 might call it fud if you know what that is. 0:02:14.160 --> 0:02:16.280 I'll explain to you what that is later. But the 0:02:16.280 --> 0:02:20.400 Bank of England is warning us of a potential financial meltdown. 0:02:20.520 --> 0:02:24.560 We're gonna talk about prices going completely haywire. Of course, 0:02:24.600 --> 0:02:26.919 we're gonna tie all this back to what bitcoin and 0:02:26.960 --> 0:02:30.600 cryptocurrencies mean. I want to get into some some some 0:02:30.720 --> 0:02:33.400 data that's recently been put out that talks about a 0:02:33.480 --> 0:02:37.600 poll that was recently done pulling Americans all over the world, um, 0:02:37.639 --> 0:02:40.640 asking that our Americans all over the country, asking them 0:02:40.639 --> 0:02:43.440 different questions. You'll be very very surprised at the answers, 0:02:43.760 --> 0:02:46.760 um And all of this goes back into the information 0:02:46.800 --> 0:02:50.639 that you need so that you can play this correctly. Now, 0:02:50.880 --> 0:02:52.640 if you've been tuning into each and every week with me, 0:02:53.120 --> 0:02:56.840 first of all, thank you, but you'll also probably recognize 0:02:56.880 --> 0:02:58.560 if you have, and if not, I'll let you know 0:02:58.880 --> 0:03:01.680 that I started the very first episode of the show 0:03:02.240 --> 0:03:05.079 not talking about the price the US dollar of bitcoin. 0:03:05.160 --> 0:03:08.840 We started talking about it from a human rights perspective. 0:03:08.840 --> 0:03:11.040 I had on one of my good friends, Alex Gladstein, 0:03:11.680 --> 0:03:14.280 who's who's from the Human Rights Foundation. We talked about 0:03:14.280 --> 0:03:19.160 how bitcoin is literally solving human rights issues all around 0:03:19.200 --> 0:03:21.200 the world. It's that big, And I started with that 0:03:21.240 --> 0:03:23.280 episode because I didn't want you to think it's all 0:03:23.320 --> 0:03:28.000 about money and about making making dollars. We're literally trying 0:03:28.040 --> 0:03:30.440 to change the world for the better. That's what technological 0:03:30.480 --> 0:03:34.840 revolutions do, and so it's that big. However, I get it. 0:03:35.760 --> 0:03:38.000 Bitcoin is a little bit of a bait and switch. 0:03:38.640 --> 0:03:41.280 It sucks you in on the price, It baits you 0:03:41.320 --> 0:03:44.280 in on the price, and then it switches you into 0:03:44.320 --> 0:03:47.640 the things that are most important. All of the issues 0:03:47.680 --> 0:03:50.280 that we have in the world today all relate back 0:03:50.320 --> 0:03:53.160 to one thing, and that is the money. So we say, 0:03:53.160 --> 0:03:54.960 if we fix the money, we fix the world. So yeah, 0:03:55.080 --> 0:03:58.160 it's great, make some money, increase your US dollar stack, 0:03:58.840 --> 0:04:01.080 that's great. Prices going up like crazy, we need to 0:04:01.120 --> 0:04:05.520 increase our purchasing power. But we're literally talking about fixing 0:04:05.680 --> 0:04:08.960 the world. It's that big. So we're gonna go through 0:04:09.000 --> 0:04:11.040 that a lot on this show, have a lot planned. 0:04:11.320 --> 0:04:13.680 But let's start with the price, because I know a 0:04:13.680 --> 0:04:15.760 lot of you people are paying attention to that, and 0:04:15.800 --> 0:04:17.440 like I said, it's a bait and switch. It's baiting 0:04:17.440 --> 0:04:20.080 anyone with the price. And so right now we are 0:04:20.200 --> 0:04:22.440 continuing to see the rise of the bitcoin price. As 0:04:22.480 --> 0:04:25.480 a matter of fact, that hit fifty eight thousand dollars 0:04:25.520 --> 0:04:29.760 this week, which is an amazing number. We haven't seen 0:04:29.800 --> 0:04:33.400 at that price, um since back in May, and so 0:04:33.760 --> 0:04:35.839 um it's not at the highest it's ever been. We're 0:04:35.880 --> 0:04:40.040 at well, we're at about sixty five thousand dollars US 0:04:40.120 --> 0:04:42.840 dollar value of bitcoin is where the high mark has 0:04:42.839 --> 0:04:44.760 been set. We're a little bit off of that, but 0:04:44.920 --> 0:04:49.560 we are climbing up pretty fast now. Again, Uh, this 0:04:49.640 --> 0:04:51.880 is just the price. But of course as an investor, 0:04:52.200 --> 0:04:54.039 as a trader, these are things that you want to 0:04:54.040 --> 0:04:58.200 be paying attention to, you might ask yourself why why 0:04:58.440 --> 0:05:01.760 is the price going up? Also, the question is typically asked, 0:05:01.760 --> 0:05:04.200 why does the price go down? UM. I typically don't 0:05:04.200 --> 0:05:07.200 try to get too involved into the short term price 0:05:07.279 --> 0:05:09.400 movement of it. In my opinion, I believe it's a 0:05:09.400 --> 0:05:12.760 little bit of a distraction. UM. Long term, I believe 0:05:12.839 --> 0:05:15.000 the picture is much more clear where this can go. 0:05:15.520 --> 0:05:17.960 Short term is a lot more difficult, and that's because 0:05:18.240 --> 0:05:20.720 the price is constantly being traded back and forth. It's 0:05:20.760 --> 0:05:24.200 being set in real time. It's what's called price discovery 0:05:24.560 --> 0:05:26.360 and so the price. The price moves up and down. 0:05:26.360 --> 0:05:29.080 It's volatile, and I don't think it's very productive for 0:05:29.120 --> 0:05:31.320 the average person to be paying attention to it on 0:05:31.360 --> 0:05:35.920 that short of a time period. However, there's continuing amount 0:05:36.000 --> 0:05:38.240 of good news and good data coming out, which I 0:05:38.240 --> 0:05:39.839 think has a lot to do with it. So a 0:05:39.880 --> 0:05:43.160 couple of big, big, big things UM that are happening, 0:05:43.560 --> 0:05:46.240 I think right off the bat, there's been talk for 0:05:46.279 --> 0:05:48.840 the last couple of years about a bitcoin e t 0:05:49.080 --> 0:05:52.040 F on ETF is an exchange traded fund. It's kind 0:05:52.040 --> 0:05:55.200 of like an index. It allows somebody UM through their 0:05:55.720 --> 0:05:59.200 stock trading account to get access to bitcoin, get access 0:05:59.240 --> 0:06:01.920 to the price. So if you're not aware, a lot 0:06:02.000 --> 0:06:05.160 of people aren't able to buy bitcoin either one UM 0:06:05.200 --> 0:06:09.200 they don't know how, it's too difficult or especially on 0:06:09.240 --> 0:06:12.479 the institution side and inside your retirement counts your i 0:06:12.680 --> 0:06:15.120 RA S four one case, things like that, you're not 0:06:15.279 --> 0:06:18.960 able to buy bitcoin. Bitcoin is a commodity, it's that's 0:06:18.960 --> 0:06:21.160 what that's what it's classified in the United States as 0:06:21.200 --> 0:06:24.159 a commodity as an asset like property, and so you're 0:06:24.160 --> 0:06:28.560 not able to buy those things through your normal retirement accounts. However, 0:06:28.600 --> 0:06:30.919 if it goes into an e t F, an exchange 0:06:30.960 --> 0:06:34.360 had fund, basically what they would do is then say, well, 0:06:34.400 --> 0:06:37.680 if you buy our fund, then we'll go and buy bitcoin. 0:06:38.279 --> 0:06:42.120 And so you're getting access to the price of bitcoin, 0:06:42.320 --> 0:06:45.839 but you don't technically own bitcoin. Um. So that's basically 0:06:45.839 --> 0:06:47.200 what an e t F is. Now. We have e 0:06:47.279 --> 0:06:49.760 t s for all the other big commodities, of course, 0:06:49.800 --> 0:06:52.960 so precious metals, gold and silver, um, there's a new 0:06:53.200 --> 0:06:55.600 uranium one that's going right now. Of course, you can 0:06:55.640 --> 0:06:58.680 find them through lots of other physical commodities, and so 0:06:59.200 --> 0:07:01.800 that is basically what's happening with Bitcoin. Now. There's lots 0:07:01.800 --> 0:07:05.560 of speculation that we're finally, finally going to get a 0:07:05.560 --> 0:07:08.920 bitcoin e t F through the door. Um. Some of 0:07:08.960 --> 0:07:11.560 these big giant, you know, financial institutions have been trying 0:07:11.600 --> 0:07:14.320 to get an e t F through the door for 0:07:14.440 --> 0:07:16.240 a couple of years now, so we've been seeing them 0:07:16.240 --> 0:07:19.040 try over and over and over, but every time they do, 0:07:19.480 --> 0:07:22.760 the SEC has shut him down and just and just 0:07:22.760 --> 0:07:25.080 stopped him in their tracks. Now a lot of people 0:07:25.240 --> 0:07:28.520 speculate that if we get an e t F approved, 0:07:28.800 --> 0:07:32.760 we're going to see the floodgates just come into bitcoin 0:07:32.840 --> 0:07:35.920 and could push the price higher than most people have imagined. 0:07:36.200 --> 0:07:38.320 And so we've been speculated on this for years. We've 0:07:38.320 --> 0:07:41.800 been waiting, watching, watching, you know. I think it probably 0:07:41.920 --> 0:07:45.640 first really started being talked about in and I don't 0:07:45.680 --> 0:07:47.240 have the number. I should have done some research, but 0:07:47.320 --> 0:07:50.600 I would imagine at this point dozens have been put 0:07:50.640 --> 0:07:53.520 forth and have been denied. A lot of the reasons 0:07:53.560 --> 0:07:57.360 given for denying them are that, um, the bitcoin of price, 0:07:57.440 --> 0:07:59.680 the bitcoin prices too volatile, it goes up and down. 0:07:59.680 --> 0:08:01.560 To my UM, A lot of a lot of it 0:08:01.600 --> 0:08:04.160 is that it's too small of the market. So UM, 0:08:04.200 --> 0:08:07.160 with the current price getting back up over fifty, we've 0:08:07.200 --> 0:08:10.520 seen the total market cap, which is all the existing 0:08:10.520 --> 0:08:14.560 bitcoin times the price equals the market cap, and we've 0:08:14.600 --> 0:08:17.840 seen that get over one trillion dollars again. And so 0:08:17.960 --> 0:08:20.360 once it gets over a trillion dollars, it starts to 0:08:20.440 --> 0:08:23.560 become a big enough asset that could be used in 0:08:23.560 --> 0:08:25.840 the e t F. So that's something. The other thing 0:08:25.880 --> 0:08:27.440 is that, of course a lot of people think that 0:08:27.640 --> 0:08:30.320 the government will just make it illegal um. And so 0:08:30.360 --> 0:08:33.240 that's probably one of the biggest things that I hear 0:08:33.400 --> 0:08:36.680 all the time people talking about bitcoin and cryptocurrencies is 0:08:36.679 --> 0:08:39.400 that the government will make them illegal. Well, some big 0:08:39.440 --> 0:08:42.120 catalyst that came out this week is both um Jerome 0:08:42.160 --> 0:08:45.280 Palell who's the head of the Federal Reserve, the Central Bank, 0:08:45.920 --> 0:08:49.200 and Gary Ginsler, who's the new head of the SEC, 0:08:49.520 --> 0:08:53.240 have both come out and said they will not make 0:08:53.559 --> 0:08:57.440 bitcoin illegal. So um, I think that's also having something 0:08:57.440 --> 0:08:59.679 to do with the price. But also since the head 0:08:59.679 --> 0:09:03.360 of the SEC, Gensler, has made that stance and the 0:09:03.440 --> 0:09:06.480 SEC is the one that approves the e t F 0:09:06.559 --> 0:09:09.400 to go through, a lot of people are thinking it's 0:09:09.440 --> 0:09:11.080 going to come through. Now. I want to tell you 0:09:11.120 --> 0:09:13.640 what this means and what I think is going to happen, 0:09:13.880 --> 0:09:15.280 and then I want to tell you about some other 0:09:15.400 --> 0:09:18.560 catalysts that are happening inside of bitcoin right now that 0:09:18.600 --> 0:09:21.840 are going to propel it more uh much more higher 0:09:21.840 --> 0:09:24.400 and faster than you might imagine. You're listening to the 0:09:24.400 --> 0:09:27.320 Mark Moss Show, and I'm gonna be right back, all right, 0:09:27.360 --> 0:09:29.559 welcome back. You are listening to the Mark mass Show 0:09:29.640 --> 0:09:33.280 where I talk about bitcoin and cryptocurrencies and really the 0:09:33.480 --> 0:09:39.080 d centralized revolution, the technological revolution that's literally happening now 0:09:39.200 --> 0:09:42.440 and will change the way the world works, change humanity. 0:09:42.679 --> 0:09:45.880 And so the way that you take advantage of these opportunities, 0:09:45.920 --> 0:09:49.800 these asymmetric opportunities by having information that most people don't have, 0:09:50.200 --> 0:09:51.959 which is what I'm trying to bring to you each 0:09:51.960 --> 0:09:53.839 and every week, So make sure to tune in. Now. 0:09:53.840 --> 0:09:57.000 We were just talking about, UM, the price of bitcoin, 0:09:57.080 --> 0:09:59.400 the U. S Dollar of bitcoin. In my opinion, I 0:09:59.400 --> 0:10:01.760 think it's a little of a distraction. I try not 0:10:01.800 --> 0:10:03.480 to pay too much attention to it on a short 0:10:03.600 --> 0:10:06.360 term basis. I'm more focused on where it's going over 0:10:06.440 --> 0:10:10.360 the long run. UM. Maybe that's because I've been a 0:10:10.400 --> 0:10:14.200 full time investor and UH developer for decades, you know, 0:10:14.280 --> 0:10:17.120 and when I was developing real estate UM, and I've 0:10:17.160 --> 0:10:20.120 developed tens of millions of dollars worth the real estate UM. 0:10:20.160 --> 0:10:22.200 And a lot of these real estate projects would be 0:10:22.559 --> 0:10:24.920 multi year, right, So I'd have to buy land, and 0:10:24.960 --> 0:10:27.520 I'd have to get it rezoned and get it approved 0:10:27.559 --> 0:10:29.400 to the city, and then I have to get architects 0:10:29.400 --> 0:10:31.840 and permits and all these things, and it could be 0:10:31.920 --> 0:10:33.880 three to five years on a project. And so maybe 0:10:33.880 --> 0:10:36.840 that's just helped me to learn to think longer term. 0:10:36.880 --> 0:10:39.199 The one problem I see today is that everybody's thinking 0:10:39.280 --> 0:10:41.640 so short term, how much can I make this week? 0:10:41.800 --> 0:10:43.400 If you buy something and then the price goes down 0:10:43.400 --> 0:10:45.240 a little bit, people freak out. And so that's why 0:10:45.280 --> 0:10:46.520 I think the price is a little bit of a 0:10:46.960 --> 0:10:49.240 short term price is a little bit of a distraction. UM. 0:10:49.280 --> 0:10:51.360 Really we're trying to look at the long term viability 0:10:51.400 --> 0:10:53.440 of it UM. But back to the price it is. 0:10:53.520 --> 0:10:56.839 It is back up over thousan dollars at the time 0:10:56.840 --> 0:11:00.559 of this recording. And UM. Some of the catalysts that 0:11:00.600 --> 0:11:02.280 are driving it, and I was talking about one being 0:11:02.320 --> 0:11:04.240 as e t F getting approved. They've been trying to 0:11:04.240 --> 0:11:07.360 get an e t F through for the last several years. UM. 0:11:07.400 --> 0:11:11.120 But the new head of the SEC, Gary Ginsler Um, 0:11:11.200 --> 0:11:14.680 he is a bitcoin and cryptocurrency fan. As a matter 0:11:14.679 --> 0:11:18.560 of fact, he taught at M I T as a 0:11:18.600 --> 0:11:22.520 professor on bitcoin, so he not only is a fan, 0:11:22.720 --> 0:11:24.920 he literally taught on it at M I T. So 0:11:25.000 --> 0:11:27.640 he knows it very very well. And because of that, 0:11:27.960 --> 0:11:31.240 because of his understanding of it UM, a lot of 0:11:31.240 --> 0:11:33.640 people think that we're much more likely now to get 0:11:33.679 --> 0:11:35.560 this e t F through. As a matter of fact, 0:11:36.200 --> 0:11:39.360 I'm not really a betting man. But in the betting markets, 0:11:39.720 --> 0:11:43.240 they have markets basically to bet on everything, and they 0:11:43.280 --> 0:11:46.719 have betting markets to show what the potential approval rate 0:11:46.720 --> 0:11:48.600 of getting the e t F through is UM and 0:11:48.600 --> 0:11:50.720 a lot of people are putting in about seventy five 0:11:51.600 --> 0:11:54.320 chance of getting that e t F through, And of 0:11:54.320 --> 0:11:57.160 course if that were to happen, we could see a 0:11:57.240 --> 0:12:01.040 massive amount of money flooding into bit going over that. Now, 0:12:01.120 --> 0:12:03.520 a couple of things to keep in mind. First off, 0:12:04.320 --> 0:12:07.920 this may shock you. Sorry if it does, brace yourself. 0:12:08.880 --> 0:12:11.480 But I'm not a big fan of an EF. I'm 0:12:11.520 --> 0:12:12.679 just I'm just not a big fan of an e 0:12:12.720 --> 0:12:15.439 t F for for a couple of reasons. The first 0:12:15.440 --> 0:12:18.400 thing is that, you know, wall modern economics tries to 0:12:18.400 --> 0:12:21.520 make everything so complicated that you can't really understand it. 0:12:21.720 --> 0:12:23.560 I think part of that strategy is so that you 0:12:23.640 --> 0:12:26.080 don't try to understand it and you just hire a 0:12:26.080 --> 0:12:29.760 financial advisor. UM. But they try to make things so complicated, 0:12:29.800 --> 0:12:33.520 But the reality is it's not. The reality is is 0:12:33.559 --> 0:12:38.560 that it drives off of supply and demand. When demand 0:12:39.080 --> 0:12:43.600 outstrips supply, the price goes up, and the opposite is 0:12:43.640 --> 0:12:47.160 also true. So what happens is um. The more people 0:12:47.240 --> 0:12:51.280 that want bitcoin, they buy bitcoin, that's the demand go up. 0:12:51.480 --> 0:12:53.760 The supply is fixed. There can never be more than 0:12:53.840 --> 0:12:58.280 twenty one million. That's it um. And so as more 0:12:58.320 --> 0:13:00.079 and more people want it, So let's say that to 0:13:00.360 --> 0:13:02.680 you know, all these institutions want to buy it. That 0:13:02.840 --> 0:13:05.920 increases the demand, but the supply stays fixed, which of 0:13:05.920 --> 0:13:08.360 course pushes the price up. The problem that I have 0:13:08.480 --> 0:13:12.640 with y F is that it enables people to buy 0:13:13.080 --> 0:13:16.680 fake bitcoin. What do I mean by that, Well, what 0:13:16.840 --> 0:13:19.360 happens is if you were with me on the previous segment, 0:13:19.600 --> 0:13:21.640 you said you heard me say that it's a way 0:13:21.679 --> 0:13:26.079 for people to get access to bitcoin's price, but without 0:13:26.120 --> 0:13:29.560 actually owning anything. And so what I mean by that 0:13:29.679 --> 0:13:31.720 is we have, as I said, right, we have gold 0:13:31.800 --> 0:13:35.040 et fs. And so instead of me owning physical gold 0:13:35.320 --> 0:13:37.040 that I have to take possession of and I put 0:13:37.080 --> 0:13:39.120 into my safe or I bury in my backyard or 0:13:39.120 --> 0:13:41.760 in a safety deposit box, instead of doing that, what 0:13:41.880 --> 0:13:43.760 I could do is I can buy a gold et 0:13:44.000 --> 0:13:46.680 F and there's plenty of them to choose from. So 0:13:46.720 --> 0:13:50.199 I buy the gold ETF. Now I don't technically own gold, 0:13:50.920 --> 0:13:53.920 but I have exposure to the price of gold. So 0:13:53.960 --> 0:13:57.160 if the price of gold goes up, my shares and 0:13:57.200 --> 0:13:59.200 the e t F go up in value as well. 0:13:59.240 --> 0:14:02.240 But I don't own the gold. And so the same 0:14:02.280 --> 0:14:04.120 would be true with bitcoin in a sense where if 0:14:04.120 --> 0:14:05.319 I bought it through an e t F, I don't 0:14:05.320 --> 0:14:08.959 actually own bitcoin. I just have exposure to the price 0:14:09.040 --> 0:14:12.600 of bitcoin. Now this is bad in my opinion for 0:14:12.640 --> 0:14:15.320 a couple of reasons. The first reason I would say 0:14:15.559 --> 0:14:19.200 is that and and and probably the bigger reason, well 0:14:19.200 --> 0:14:21.320 they're both big, but probably the first big reason is that, 0:14:21.800 --> 0:14:25.880 back to economics one on one, supply and demand. If 0:14:26.280 --> 0:14:28.720 if more people want to buy bitcoin, there's more demand. 0:14:29.080 --> 0:14:31.000 If the supplies fixed, the price goes up. But what 0:14:31.120 --> 0:14:34.560 if I can get exposure to the price of bitcoin, 0:14:35.040 --> 0:14:37.440 but I don't actually have to buy it. So now 0:14:37.440 --> 0:14:40.800 you have all these potential buyers who want bitcoin in 0:14:40.800 --> 0:14:45.040 their portfolio, but rather than actually buying it, they're buying 0:14:45.160 --> 0:14:47.400 paper versions of it. They're buying it in an e 0:14:47.520 --> 0:14:51.360 t F. That messes up the entire demand supply and 0:14:51.400 --> 0:14:54.960 demand relationships. So let me give you an example in 0:14:55.080 --> 0:14:57.120 back to the gold ets they've been around for a 0:14:57.120 --> 0:14:59.720 long time, in a gold et F again right, you 0:14:59.760 --> 0:15:04.520 have exposure to the price um estimates are today there's 0:15:04.560 --> 0:15:10.880 about five hundred paper ounces for everyone physical ounce of gold. 0:15:11.360 --> 0:15:14.080 So what does that mean. That means there's five people 0:15:14.080 --> 0:15:16.480 that think they own an ounce of gold, but the 0:15:16.560 --> 0:15:19.800 reality is there's only one physical ounce of gold to 0:15:19.800 --> 0:15:22.680 go around, So four nine people are gonna be left 0:15:22.720 --> 0:15:27.240 holding worthless paper. Now that's bad in itself. Four people 0:15:27.280 --> 0:15:30.120 are going to find out they own virtually something nothing 0:15:30.240 --> 0:15:32.680 or something that's worthless. But even worse than that, Like 0:15:32.720 --> 0:15:35.960 I said, that's four people that should have just bought gold. 0:15:36.000 --> 0:15:38.880 And if those four people would have bought gold, the 0:15:38.960 --> 0:15:40.640 demand for gold would have gone up and it would 0:15:40.640 --> 0:15:42.800 have pushed the price up. And so by creating this 0:15:42.880 --> 0:15:46.200 fake paper market, this e t F market, it shifts 0:15:46.240 --> 0:15:49.000 that supply demand. Because bitcoin is a fixed cap um, 0:15:49.120 --> 0:15:52.040 now they can buy an unlimited amount of bitcoin fake 0:15:52.640 --> 0:15:56.040 on paper. So that's one fear that I have. Another 0:15:56.120 --> 0:15:57.720 fear that I have, or thing that I just don't 0:15:57.760 --> 0:16:00.320 like about the e t F s is that again, 0:16:00.480 --> 0:16:03.680 bitcoin is not uh just a new technology. It's a 0:16:03.760 --> 0:16:08.320 technological revolution that will literally change all of humanity. And 0:16:08.360 --> 0:16:12.200 so um, you know, while you might be listening by 0:16:12.200 --> 0:16:14.320 the way to the Markma Show, we're talking about bitcoin 0:16:14.360 --> 0:16:17.160 cryptocurrencies each and every week. Um. While you might be 0:16:18.000 --> 0:16:22.760 thinking about bitcoin as you know, maybe it's digital cash. Yeah, yeah, yeah, 0:16:22.760 --> 0:16:25.280 it's digital cash. I get it. Or I get it's 0:16:25.280 --> 0:16:27.120 it's kind of like digital gold. Oh yeah, yeah, I 0:16:27.120 --> 0:16:29.200 get it's kind of like that too. But bitcoin is 0:16:29.240 --> 0:16:33.000 actually so much more than that. Um, we actually don't 0:16:33.120 --> 0:16:35.120 know exactly what it's going to be. Now. Let me 0:16:35.120 --> 0:16:38.640 give you an example. So in a technological revolution, we 0:16:38.720 --> 0:16:40.880 try in our human minds, because we're not going to 0:16:40.960 --> 0:16:43.080 predict in the future, we try to relate it to 0:16:43.120 --> 0:16:45.560 something else that we can understand. So, for example, when 0:16:45.720 --> 0:16:49.520 electricity was created, which is one of the five technological revolutions, 0:16:49.760 --> 0:16:52.280 When electricity came out, it was kind of like a 0:16:52.320 --> 0:16:55.160 digital candle, and a lot of people said, why do 0:16:55.240 --> 0:16:57.680 we need that. It's stupid, it doesn't make any sense, 0:16:57.800 --> 0:17:00.400 there's no use case for it. Candles have been perfect 0:17:00.400 --> 0:17:02.960 for five thousand years. Why do we need a digital candle? 0:17:03.040 --> 0:17:06.679 I just use a regular candle, right, um, and and 0:17:06.680 --> 0:17:10.840 and and electricity was at that time a digital candle. 0:17:11.160 --> 0:17:14.360 It was, and it still kind of is today, but 0:17:14.480 --> 0:17:17.600 it's so much more than that. It's allowing us to 0:17:17.600 --> 0:17:19.240 do what we're doing right now. And that's kind of 0:17:19.280 --> 0:17:20.960 like what bitcoin is. It's yes, it is kind of 0:17:21.000 --> 0:17:23.239 like digital gold. Sure, it is like digital cash, Yes 0:17:23.280 --> 0:17:25.960 it is, but it is so much more than that. 0:17:26.320 --> 0:17:28.360 It's going to be so much more. Kind of going 0:17:28.359 --> 0:17:30.760 back to even the Internet in the early nineties, it 0:17:30.800 --> 0:17:33.200 was kind of a way to send electronic messages. Sure, 0:17:34.080 --> 0:17:36.840 it was kind of a way to have like chatboards. Sure, 0:17:37.160 --> 0:17:39.120 but today we have like our car hooked to something 0:17:39.160 --> 0:17:41.320 called a cloud, using something called social media to like 0:17:41.400 --> 0:17:44.119 navigate us around traffic. Right, it's so much bigger. And 0:17:44.160 --> 0:17:48.480 so what one of the revolutionary things about bitcoin is 0:17:48.480 --> 0:17:52.760 that it allows me to custody take custody of my 0:17:52.880 --> 0:17:57.919 own personal private property. And that is a massive shift. 0:17:58.080 --> 0:18:00.320 I want to tell you just how big of a 0:18:00.359 --> 0:18:02.880 shift that is. And this is one of the key 0:18:02.920 --> 0:18:06.560 pieces that will literally transform humanity. That's how big this 0:18:06.600 --> 0:18:08.439 is gonna be. So I'll break that down for you, 0:18:08.480 --> 0:18:11.120 and of course you'll understand where the price of bitcoin 0:18:11.320 --> 0:18:13.879 will go based off that information. You're listening to Mark Moss, 0:18:13.920 --> 0:18:16.000 I'll be right back, all right, welcome back. You are 0:18:16.040 --> 0:18:18.520 listening to the Mark Mass Show, where I bring to 0:18:18.560 --> 0:18:21.879 you the latest information on bitcoin and cryptocurrencies and this 0:18:22.040 --> 0:18:26.840 decentralized revolution that we are going through right now. Um. 0:18:26.840 --> 0:18:29.280 And before the break, I was talking to you about 0:18:29.320 --> 0:18:31.160 the price of bitcoin, you know, or at above fifty 0:18:31.160 --> 0:18:32.960 eight dollars. We haven't been at that level for a 0:18:33.040 --> 0:18:35.600 long time. I'm talking about how the short term price 0:18:35.680 --> 0:18:37.720 is a little bit of a distraction. But then we're 0:18:37.720 --> 0:18:39.840 looking at some of the metrics that we're driving that price. 0:18:39.840 --> 0:18:41.919 We're talking about e t f s in the betting markets, 0:18:41.920 --> 0:18:45.320 they show they have about chance of being approved and 0:18:45.320 --> 0:18:47.399 what that will do to the markets. UM. I was 0:18:47.440 --> 0:18:49.640 explaining to you two reasons why I'm not a big 0:18:49.640 --> 0:18:51.199 fan of the e t F. The first one that 0:18:51.240 --> 0:18:54.280 it creates this kind of fake paper market like we've 0:18:54.280 --> 0:18:56.800 seen happen in the gold markets. Um. But but what 0:18:56.840 --> 0:18:58.840 I was just getting into before the break was talking 0:18:58.880 --> 0:19:05.760 about how revolutionary bitcoin is and so um. One of 0:19:05.840 --> 0:19:09.719 the many revolutionary things about bitcoin is for the first time, 0:19:10.200 --> 0:19:14.040 it allows me to hold my private property, take custody 0:19:14.040 --> 0:19:16.239 of that, and hold it in a way that I 0:19:16.280 --> 0:19:20.200 can secure it, I can protect it, and nobody can 0:19:20.200 --> 0:19:22.720 take it from me and I can take it with 0:19:22.760 --> 0:19:26.280 me anywhere I want to go. This is revolutionary. Now, 0:19:26.320 --> 0:19:30.960 think about probably the oldest problem that man has, may 0:19:31.200 --> 0:19:33.639 may one of the oldest problems, if not the oldest. 0:19:33.640 --> 0:19:36.439 One of the oldest problems is that I'm afraid somebody 0:19:36.440 --> 0:19:40.120 will come and steal my property. So, um, somebody's gonna come, 0:19:40.160 --> 0:19:42.439 you know, kill me and take my chickens. So me 0:19:42.520 --> 0:19:44.800 and my neighbor partner together. And then some were afraid 0:19:44.840 --> 0:19:47.199 someone's gonna come take our chickens and our goats. So 0:19:47.240 --> 0:19:49.240 then we form a village. And now we're afraid the 0:19:49.320 --> 0:19:50.920 village is going to come, So then we make a kingdom, 0:19:50.920 --> 0:19:53.160 and then we make a government. And you get the idea. 0:19:53.960 --> 0:19:57.919 We have been trying to protect our property since the 0:19:57.920 --> 0:20:00.719