Speaker 1: Hello, you are joining the Mark Moss Show, where I'm
Speaker 1: bringing to you the latest in news on bitcoin, cryptocurrencies
Speaker 1: and the decentralized revolution. I've been coming at you every
Speaker 1: single week bringing you the most up to date information,
Speaker 1: the information that you need to navigate this boom correctly.
Speaker 1: And I have to say that you need to understand
Speaker 1: just how important this is. Um, this is not just
Speaker 1: some new type of fad that's going to go away.
Speaker 1: This is not like many many people predicted some of
Speaker 1: this new technology, like Paul Krugman famously said that the
Speaker 1: fax machine would kind of go away as a fad.
Speaker 1: Even Bill Gates called the Internet a fad. Um, this
Speaker 1: is not a fad. This is what we call a
Speaker 1: technological revolution, not a new technology. So the difference of
Speaker 1: that as a new technology, you know, like the iPhone,
Speaker 1: like Uber, Airbnb, Um, those those are cool and if
Speaker 1: you catch them right, you can make some good money.
Speaker 1: And you know, they affect our lives a little bit. Um,
Speaker 1: a technological revolution is something so much bigger than it
Speaker 1: literally changes humanity, and it doesn't just change humanity. Technological
Speaker 1: revolutions drive financial markets. So not only will this change
Speaker 1: your life in every area, it also drives financial markets,
Speaker 1: and so if you get this right, it could be
Speaker 1: the single biggest opportunity of your lifetime. So I bring
Speaker 1: this information to each and every week so you'll have
Speaker 1: what you need to navigate this correctly. It's that important.
Speaker 1: So if you're listening right now, just go ahead and
Speaker 1: pull out your phone, put a bookmark on your calendar
Speaker 1: for this date, this time, and this station, and make
Speaker 1: sure you tune in with me each and every week.
Speaker 1: This is the information that you need, and I'm gonna
Speaker 1: bring it to you. Uh. My name is Mark Moss. Again.
Speaker 1: You can follow me on Twitter at one Mark Moss.
Speaker 1: That's at one Mark Moss. Tweet at me. Let me
Speaker 1: know you heard me on the radio. Ask me a question.
Speaker 1: I'll make sure to answer it next week. Now jumping
Speaker 1: into some of the news, I have a lot of
Speaker 1: stuff planned for you this uh, this episode, this show,
Speaker 1: so make sure you stick around. UM. I have a
Speaker 1: bunch of news that I won't want to talk about
Speaker 1: as far as what's going on with the price. We're
Speaker 1: gonna talk about some huge, huge, huge regulations that are
Speaker 1: happening that are going to blow things wide open. We're
Speaker 1: gonna talk about some information we'll call it that. We
Speaker 1: might call it fud if you know what that is.
Speaker 1: I'll explain to you what that is later. But the
Speaker 1: Bank of England is warning us of a potential financial meltdown.
Speaker 1: We're gonna talk about prices going completely haywire. Of course,
Speaker 1: we're gonna tie all this back to what bitcoin and
Speaker 1: cryptocurrencies mean. I want to get into some some some
Speaker 1: data that's recently been put out that talks about a
Speaker 1: poll that was recently done pulling Americans all over the world, um,
Speaker 1: asking that our Americans all over the country, asking them
Speaker 1: different questions. You'll be very very surprised at the answers,
Speaker 1: um And all of this goes back into the information
Speaker 1: that you need so that you can play this correctly. Now,
Speaker 1: if you've been tuning into each and every week with me,
Speaker 1: first of all, thank you, but you'll also probably recognize
Speaker 1: if you have, and if not, I'll let you know
Speaker 1: that I started the very first episode of the show
Speaker 1: not talking about the price the US dollar of bitcoin.
Speaker 1: We started talking about it from a human rights perspective.
Speaker 1: I had on one of my good friends, Alex Gladstein,
Speaker 1: who's who's from the Human Rights Foundation. We talked about
Speaker 1: how bitcoin is literally solving human rights issues all around
Speaker 1: the world. It's that big, And I started with that
Speaker 1: episode because I didn't want you to think it's all
Speaker 1: about money and about making making dollars. We're literally trying
Speaker 1: to change the world for the better. That's what technological
Speaker 1: revolutions do, and so it's that big. However, I get it.
Speaker 1: Bitcoin is a little bit of a bait and switch.
Speaker 1: It sucks you in on the price, It baits you
Speaker 1: in on the price, and then it switches you into
Speaker 1: the things that are most important. All of the issues
Speaker 1: that we have in the world today all relate back
Speaker 1: to one thing, and that is the money. So we say,
Speaker 1: if we fix the money, we fix the world. So yeah,
Speaker 1: it's great, make some money, increase your US dollar stack,
Speaker 1: that's great. Prices going up like crazy, we need to
Speaker 1: increase our purchasing power. But we're literally talking about fixing
Speaker 1: the world. It's that big. So we're gonna go through
Speaker 1: that a lot on this show, have a lot planned.
Speaker 1: But let's start with the price, because I know a
Speaker 1: lot of you people are paying attention to that, and
Speaker 1: like I said, it's a bait and switch. It's baiting
Speaker 1: anyone with the price. And so right now we are
Speaker 1: continuing to see the rise of the bitcoin price. As
Speaker 1: a matter of fact, that hit fifty eight thousand dollars
Speaker 1: this week, which is an amazing number. We haven't seen
Speaker 1: at that price, um since back in May, and so
Speaker 1: um it's not at the highest it's ever been. We're
Speaker 1: at well, we're at about sixty five thousand dollars US
Speaker 1: dollar value of bitcoin is where the high mark has
Speaker 1: been set. We're a little bit off of that, but
Speaker 1: we are climbing up pretty fast now. Again, Uh, this
Speaker 1: is just the price. But of course as an investor,
Speaker 1: as a trader, these are things that you want to
Speaker 1: be paying attention to, you might ask yourself why why
Speaker 1: is the price going up? Also, the question is typically asked,
Speaker 1: why does the price go down? UM. I typically don't
Speaker 1: try to get too involved into the short term price
Speaker 1: movement of it. In my opinion, I believe it's a
Speaker 1: little bit of a distraction. UM. Long term, I believe
Speaker 1: the picture is much more clear where this can go.
Speaker 1: Short term is a lot more difficult, and that's because
Speaker 1: the price is constantly being traded back and forth. It's
Speaker 1: being set in real time. It's what's called price discovery
Speaker 1: and so the price. The price moves up and down.
Speaker 1: It's volatile, and I don't think it's very productive for
Speaker 1: the average person to be paying attention to it on
Speaker 1: that short of a time period. However, there's continuing amount
Speaker 1: of good news and good data coming out, which I
Speaker 1: think has a lot to do with it. So a
Speaker 1: couple of big, big, big things UM that are happening,
Speaker 1: I think right off the bat, there's been talk for
Speaker 1: the last couple of years about a bitcoin e t
Speaker 1: F on ETF is an exchange traded fund. It's kind
Speaker 1: of like an index. It allows somebody UM through their
Speaker 1: stock trading account to get access to bitcoin, get access
Speaker 1: to the price. So if you're not aware, a lot
Speaker 1: of people aren't able to buy bitcoin either one UM
Speaker 1: they don't know how, it's too difficult or especially on
Speaker 1: the institution side and inside your retirement counts your i
Speaker 1: RA S four one case, things like that, you're not
Speaker 1: able to buy bitcoin. Bitcoin is a commodity, it's that's
Speaker 1: what that's what it's classified in the United States as
Speaker 1: a commodity as an asset like property, and so you're
Speaker 1: not able to buy those things through your normal retirement accounts. However,
Speaker 1: if it goes into an e t F, an exchange
Speaker 1: had fund, basically what they would do is then say, well,
Speaker 1: if you buy our fund, then we'll go and buy bitcoin.
Speaker 1: And so you're getting access to the price of bitcoin,
Speaker 1: but you don't technically own bitcoin. Um. So that's basically
Speaker 1: what an e t F is. Now. We have e
Speaker 1: t s for all the other big commodities, of course,
Speaker 1: so precious metals, gold and silver, um, there's a new
Speaker 1: uranium one that's going right now. Of course, you can
Speaker 1: find them through lots of other physical commodities, and so
Speaker 1: that is basically what's happening with Bitcoin. Now. There's lots
Speaker 1: of speculation that we're finally, finally going to get a
Speaker 1: bitcoin e t F through the door. Um. Some of
Speaker 1: these big giant, you know, financial institutions have been trying
Speaker 1: to get an e t F through the door for
Speaker 1: a couple of years now, so we've been seeing them
Speaker 1: try over and over and over, but every time they do,
Speaker 1: the SEC has shut him down and just and just
Speaker 1: stopped him in their tracks. Now a lot of people
Speaker 1: speculate that if we get an e t F approved,
Speaker 1: we're going to see the floodgates just come into bitcoin
Speaker 1: and could push the price higher than most people have imagined.
Speaker 1: And so we've been speculated on this for years. We've
Speaker 1: been waiting, watching, watching, you know. I think it probably
Speaker 1: first really started being talked about in and I don't
Speaker 1: have the number. I should have done some research, but
Speaker 1: I would imagine at this point dozens have been put
Speaker 1: forth and have been denied. A lot of the reasons
Speaker 1: given for denying them are that, um, the bitcoin of price,
Speaker 1: the bitcoin prices too volatile, it goes up and down.
Speaker 1: To my UM, A lot of a lot of it
Speaker 1: is that it's too small of the market. So UM,
Speaker 1: with the current price getting back up over fifty, we've
Speaker 1: seen the total market cap, which is all the existing
Speaker 1: bitcoin times the price equals the market cap, and we've
Speaker 1: seen that get over one trillion dollars again. And so
Speaker 1: once it gets over a trillion dollars, it starts to
Speaker 1: become a big enough asset that could be used in
Speaker 1: the e t F. So that's something. The other thing
Speaker 1: is that, of course a lot of people think that
Speaker 1: the government will just make it illegal um. And so
Speaker 1: that's probably one of the biggest things that I hear
Speaker 1: all the time people talking about bitcoin and cryptocurrencies is
Speaker 1: that the government will make them illegal. Well, some big
Speaker 1: catalyst that came out this week is both um Jerome
Speaker 1: Palell who's the head of the Federal Reserve, the Central Bank,
Speaker 1: and Gary Ginsler, who's the new head of the SEC,
Speaker 1: have both come out and said they will not make
Speaker 1: bitcoin illegal. So um, I think that's also having something
Speaker 1: to do with the price. But also since the head
Speaker 1: of the SEC, Gensler, has made that stance and the
Speaker 1: SEC is the one that approves the e t F
Speaker 1: to go through, a lot of people are thinking it's
Speaker 1: going to come through. Now. I want to tell you
Speaker 1: what this means and what I think is going to happen,
Speaker 1: and then I want to tell you about some other
Speaker 1: catalysts that are happening inside of bitcoin right now that
Speaker 1: are going to propel it more uh much more higher
Speaker 1: and faster than you might imagine. You're listening to the
Speaker 1: Mark Moss Show, and I'm gonna be right back, all right,
Speaker 1: welcome back. You are listening to the Mark mass Show
Speaker 1: where I talk about bitcoin and cryptocurrencies and really the
Speaker 1: d centralized revolution, the technological revolution that's literally happening now
Speaker 1: and will change the way the world works, change humanity.
Speaker 1: And so the way that you take advantage of these opportunities,
Speaker 1: these asymmetric opportunities by having information that most people don't have,
Speaker 1: which is what I'm trying to bring to you each
Speaker 1: and every week, So make sure to tune in. Now.
Speaker 1: We were just talking about, UM, the price of bitcoin,
Speaker 1: the U. S Dollar of bitcoin. In my opinion, I
Speaker 1: think it's a little of a distraction. I try not
Speaker 1: to pay too much attention to it on a short
Speaker 1: term basis. I'm more focused on where it's going over
Speaker 1: the long run. UM. Maybe that's because I've been a
Speaker 1: full time investor and UH developer for decades, you know,
Speaker 1: and when I was developing real estate UM, and I've
Speaker 1: developed tens of millions of dollars worth the real estate UM.
Speaker 1: And a lot of these real estate projects would be
Speaker 1: multi year, right, So I'd have to buy land, and
Speaker 1: I'd have to get it rezoned and get it approved
Speaker 1: to the city, and then I have to get architects
Speaker 1: and permits and all these things, and it could be
Speaker 1: three to five years on a project. And so maybe
Speaker 1: that's just helped me to learn to think longer term.
Speaker 1: The one problem I see today is that everybody's thinking
Speaker 1: so short term, how much can I make this week?
Speaker 1: If you buy something and then the price goes down
Speaker 1: a little bit, people freak out. And so that's why
Speaker 1: I think the price is a little bit of a
Speaker 1: short term price is a little bit of a distraction. UM.
Speaker 1: Really we're trying to look at the long term viability
Speaker 1: of it UM. But back to the price it is.
Speaker 1: It is back up over thousan dollars at the time
Speaker 1: of this recording. And UM. Some of the catalysts that
Speaker 1: are driving it, and I was talking about one being
Speaker 1: as e t F getting approved. They've been trying to
Speaker 1: get an e t F through for the last several years. UM.
Speaker 1: But the new head of the SEC, Gary Ginsler Um,
Speaker 1: he is a bitcoin and cryptocurrency fan. As a matter
Speaker 1: of fact, he taught at M I T as a
Speaker 1: professor on bitcoin, so he not only is a fan,
Speaker 1: he literally taught on it at M I T. So
Speaker 1: he knows it very very well. And because of that,
Speaker 1: because of his understanding of it UM, a lot of
Speaker 1: people think that we're much more likely now to get
Speaker 1: this e t F through. As a matter of fact,
Speaker 1: I'm not really a betting man. But in the betting markets,
Speaker 1: they have markets basically to bet on everything, and they
Speaker 1: have betting markets to show what the potential approval rate
Speaker 1: of getting the e t F through is UM and
Speaker 1: a lot of people are putting in about seventy five
Speaker 1: chance of getting that e t F through, And of
Speaker 1: course if that were to happen, we could see a
Speaker 1: massive amount of money flooding into bit going over that. Now,
Speaker 1: a couple of things to keep in mind. First off,
Speaker 1: this may shock you. Sorry if it does, brace yourself.
Speaker 1: But I'm not a big fan of an EF. I'm
Speaker 1: just I'm just not a big fan of an e
Speaker 1: t F for for a couple of reasons. The first
Speaker 1: thing is that, you know, wall modern economics tries to
Speaker 1: make everything so complicated that you can't really understand it.
Speaker 1: I think part of that strategy is so that you
Speaker 1: don't try to understand it and you just hire a
Speaker 1: financial advisor. UM. But they try to make things so complicated,
Speaker 1: But the reality is it's not. The reality is is
Speaker 1: that it drives off of supply and demand. When demand
Speaker 1: outstrips supply, the price goes up, and the opposite is
Speaker 1: also true. So what happens is um. The more people
Speaker 1: that want bitcoin, they buy bitcoin, that's the demand go up.
Speaker 1: The supply is fixed. There can never be more than
Speaker 1: twenty one million. That's it um. And so as more
Speaker 1: and more people want it, So let's say that to
Speaker 1: you know, all these institutions want to buy it. That
Speaker 1: increases the demand, but the supply stays fixed, which of
Speaker 1: course pushes the price up. The problem that I have
Speaker 1: with y F is that it enables people to buy
Speaker 1: fake bitcoin. What do I mean by that, Well, what
Speaker 1: happens is if you were with me on the previous segment,
Speaker 1: you said you heard me say that it's a way
Speaker 1: for people to get access to bitcoin's price, but without
Speaker 1: actually owning anything. And so what I mean by that
Speaker 1: is we have, as I said, right, we have gold
Speaker 1: et fs. And so instead of me owning physical gold
Speaker 1: that I have to take possession of and I put
Speaker 1: into my safe or I bury in my backyard or
Speaker 1: in a safety deposit box, instead of doing that, what
Speaker 1: I could do is I can buy a gold et
Speaker 1: F and there's plenty of them to choose from. So
Speaker 1: I buy the gold ETF. Now I don't technically own gold,
Speaker 1: but I have exposure to the price of gold. So
Speaker 1: if the price of gold goes up, my shares and
Speaker 1: the e t F go up in value as well.
Speaker 1: But I don't own the gold. And so the same
Speaker 1: would be true with bitcoin in a sense where if
Speaker 1: I bought it through an e t F, I don't
Speaker 1: actually own bitcoin. I just have exposure to the price
Speaker 1: of bitcoin. Now this is bad in my opinion for
Speaker 1: a couple of reasons. The first reason I would say
Speaker 1: is that and and and probably the bigger reason, well
Speaker 1: they're both big, but probably the first big reason is that,
Speaker 1: back to economics one on one, supply and demand. If
Speaker 1: if more people want to buy bitcoin, there's more demand.
Speaker 1: If the supplies fixed, the price goes up. But what
Speaker 1: if I can get exposure to the price of bitcoin,
Speaker 1: but I don't actually have to buy it. So now
Speaker 1: you have all these potential buyers who want bitcoin in
Speaker 1: their portfolio, but rather than actually buying it, they're buying
Speaker 1: paper versions of it. They're buying it in an e
Speaker 1: t F. That messes up the entire demand supply and
Speaker 1: demand relationships. So let me give you an example in
Speaker 1: back to the gold ets they've been around for a
Speaker 1: long time, in a gold et F again right, you
Speaker 1: have exposure to the price um estimates are today there's
Speaker 1: about five hundred paper ounces for everyone physical ounce of gold.
Speaker 1: So what does that mean. That means there's five people
Speaker 1: that think they own an ounce of gold, but the
Speaker 1: reality is there's only one physical ounce of gold to
Speaker 1: go around, So four nine people are gonna be left
Speaker 1: holding worthless paper. Now that's bad in itself. Four people
Speaker 1: are going to find out they own virtually something nothing
Speaker 1: or something that's worthless. But even worse than that, Like
Speaker 1: I said, that's four people that should have just bought gold.
Speaker 1: And if those four people would have bought gold, the
Speaker 1: demand for gold would have gone up and it would
Speaker 1: have pushed the price up. And so by creating this
Speaker 1: fake paper market, this e t F market, it shifts
Speaker 1: that supply demand. Because bitcoin is a fixed cap um,
Speaker 1: now they can buy an unlimited amount of bitcoin fake
Speaker 1: on paper. So that's one fear that I have. Another
Speaker 1: fear that I have, or thing that I just don't
Speaker 1: like about the e t F s is that again,
Speaker 1: bitcoin is not uh just a new technology. It's a
Speaker 1: technological revolution that will literally change all of humanity. And
Speaker 1: so um, you know, while you might be listening by
Speaker 1: the way to the Markma Show, we're talking about bitcoin
Speaker 1: cryptocurrencies each and every week. Um. While you might be
Speaker 1: thinking about bitcoin as you know, maybe it's digital cash. Yeah, yeah, yeah,
Speaker 1: it's digital cash. I get it. Or I get it's
Speaker 1: it's kind of like digital gold. Oh yeah, yeah, I
Speaker 1: get it's kind of like that too. But bitcoin is
Speaker 1: actually so much more than that. Um, we actually don't
Speaker 1: know exactly what it's going to be. Now. Let me
Speaker 1: give you an example. So in a technological revolution, we
Speaker 1: try in our human minds, because we're not going to
Speaker 1: predict in the future, we try to relate it to
Speaker 1: something else that we can understand. So, for example, when
Speaker 1: electricity was created, which is one of the five technological revolutions,
Speaker 1: When electricity came out, it was kind of like a
Speaker 1: digital candle, and a lot of people said, why do
Speaker 1: we need that. It's stupid, it doesn't make any sense,
Speaker 1: there's no use case for it. Candles have been perfect
Speaker 1: for five thousand years. Why do we need a digital candle?
Speaker 1: I just use a regular candle, right, um, and and
Speaker 1: and and electricity was at that time a digital candle.
Speaker 1: It was, and it still kind of is today, but
Speaker 1: it's so much more than that. It's allowing us to
Speaker 1: do what we're doing right now. And that's kind of
Speaker 1: like what bitcoin is. It's yes, it is kind of
Speaker 1: like digital gold. Sure, it is like digital cash, Yes
Speaker 1: it is, but it is so much more than that.
Speaker 1: It's going to be so much more. Kind of going
Speaker 1: back to even the Internet in the early nineties, it
Speaker 1: was kind of a way to send electronic messages. Sure,
Speaker 1: it was kind of a way to have like chatboards. Sure,
Speaker 1: but today we have like our car hooked to something
Speaker 1: called a cloud, using something called social media to like
Speaker 1: navigate us around traffic. Right, it's so much bigger. And
Speaker 1: so what one of the revolutionary things about bitcoin is
Speaker 1: that it allows me to custody take custody of my
Speaker 1: own personal private property. And that is a massive shift.
Speaker 1: I want to tell you just how big of a
Speaker 1: shift that is. And this is one of the key
Speaker 1: pieces that will literally transform humanity. That's how big this
Speaker 1: is gonna be. So I'll break that down for you,
Speaker 1: and of course you'll understand where the price of bitcoin
Speaker 1: will go based off that information. You're listening to Mark Moss,
Speaker 1: I'll be right back, all right, welcome back. You are
Speaker 1: listening to the Mark Mass Show, where I bring to
Speaker 1: you the latest information on bitcoin and cryptocurrencies and this
Speaker 1: decentralized revolution that we are going through right now. Um.
Speaker 1: And before the break, I was talking to you about
Speaker 1: the price of bitcoin, you know, or at above fifty
Speaker 1: eight dollars. We haven't been at that level for a
Speaker 1: long time. I'm talking about how the short term price
Speaker 1: is a little bit of a distraction. But then we're
Speaker 1: looking at some of the metrics that we're driving that price.
Speaker 1: We're talking about e t f s in the betting markets,
Speaker 1: they show they have about chance of being approved and
Speaker 1: what that will do to the markets. UM. I was
Speaker 1: explaining to you two reasons why I'm not a big
Speaker 1: fan of the e t F. The first one that
Speaker 1: it creates this kind of fake paper market like we've
Speaker 1: seen happen in the gold markets. Um. But but what
Speaker 1: I was just getting into before the break was talking
Speaker 1: about how revolutionary bitcoin is and so um. One of
Speaker 1: the many revolutionary things about bitcoin is for the first time,
Speaker 1: it allows me to hold my private property, take custody
Speaker 1: of that, and hold it in a way that I
Speaker 1: can secure it, I can protect it, and nobody can
Speaker 1: take it from me and I can take it with
Speaker 1: me anywhere I want to go. This is revolutionary. Now,
Speaker 1: think about probably the oldest problem that man has, may
Speaker 1: may one of the oldest problems, if not the oldest.
Speaker 1: One of the oldest problems is that I'm afraid somebody
Speaker 1: will come and steal my property. So, um, somebody's gonna come,
Speaker 1: you know, kill me and take my chickens. So me
Speaker 1: and my neighbor partner together. And then some were afraid
Speaker 1: someone's gonna come take our chickens and our goats. So
Speaker 1: then we form a village. And now we're afraid the
Speaker 1: village is going to come, So then we make a kingdom,
Speaker 1: and then we make a government. And you get the idea.
Speaker 1: We have been trying to protect our property since the
Speaker 1: beginning of time, and the more property you have, the
Speaker 1: harder it is to secure it. If you have enough gold,
Speaker 1: you have to build a vault, you need to have
Speaker 1: full time security, and that's very expensive. And then how
Speaker 1: do you move that gold. What if I decide I
Speaker 1: want to move that gold across the sea, Well, uh,
Speaker 1: that's very slow, it's very expensive. The ship could sink.
Speaker 1: We have lots of golds in the bottom of the ocean,
Speaker 1: and so I'm securing my wealth, my value, my property
Speaker 1: is like the oldest problem we have. Bitcoin has revolutionized that.
Speaker 1: For the first time in history, I can store my wealth,
Speaker 1: my value, my money in a way that's cryptographically secured.
Speaker 1: And what that means is that I don't need to
Speaker 1: build a vault, a castle, I don't need an army
Speaker 1: to protect that. I literally need nothing. It costs me
Speaker 1: no money, and I can secure all the wealth that
Speaker 1: I have, hundreds of billions of dollars if I've had it,
Speaker 1: and then on top of it, no one can take
Speaker 1: it from me, and then on top of that, I
Speaker 1: can take it with me anywhere I want. Now, when
Speaker 1: you take away the oldest problem that man has had,
Speaker 1: which is how do I secure my wealth, and you
Speaker 1: get rid of that problem, how does that change the future. Well, again,
Speaker 1: humans aren't really good at predicting the future. All we
Speaker 1: can do is imagine better versions if we have today.
Speaker 1: So I can't tell you every way this changes the future,
Speaker 1: but I can tell you it's going to be big.
Speaker 1: It's going to be really big. And so because we
Speaker 1: have that shift where now we can hold our value,
Speaker 1: we can store it, nobody can steal it from us
Speaker 1: and I can take it with me anywhere. That's the
Speaker 1: revolution revolutionary aspect. Then everybody should be doing that. You
Speaker 1: should do it. I'm doing it, and everybody else should
Speaker 1: as well. And so if you're behind bitcoin through an
Speaker 1: e t F, you're not taking delivery of the bitcoin.
Speaker 1: You don't even own bitcoin. All you're doing is getting
Speaker 1: exposure to the price. And so that reason, that and
Speaker 1: the paper paper access to the to the bitcoin are
Speaker 1: two big reasons why I'm not big fans of the
Speaker 1: e t F coming now. UM. Some of e t
Speaker 1: F say they would be physically settled, and so that
Speaker 1: means if I buy the bitcoin UM, then uh and
Speaker 1: I and I went, I could actually take delivery of it.
Speaker 1: But most of them will be cash settled, and so
Speaker 1: that's a problem. But anyway, UM, back to the price
Speaker 1: going up. Like I said, the betting markets are saying
Speaker 1: it's about chance we see one go through UM, and
Speaker 1: I think they're onto something. Like I said, the market
Speaker 1: cap is over one trillion dollars, which makes it a
Speaker 1: big enough asset to do that with. And the new
Speaker 1: head of the SEC, Gary ginsler Um is, like I said,
Speaker 1: he used to teach at M I t as a
Speaker 1: professor on bitcoin, so he's definitely a very bitcoin friendly. UM.
Speaker 1: So those are two reasons why I think we're really
Speaker 1: seeing the price shoot up. By the way, you're listening
Speaker 1: to the Mark Moss Show, and I bring to you
Speaker 1: the latest in bitcoin, cryptocurrency information and news each and
Speaker 1: every week. Bookmark it on your calendar. Follow me on
Speaker 1: Twitter at one Mark Moss, send me a tweet and
Speaker 1: I'll answer your question next week. Um. And so that's
Speaker 1: one of the big catalyst that's happening. But there's lots
Speaker 1: of other things going on now. Um. In the kind
Speaker 1: of the famous quote of I think it was Gandhi
Speaker 1: that said, you know, first they ignore you, then they
Speaker 1: laugh at you, um, then they try to fight you. Um.
Speaker 1: Kind of a kind of a narrative, and then they
Speaker 1: join you. Um. And we've kind of seen the same
Speaker 1: thing happen with bitcoin over the last eleven years. And so,
Speaker 1: you know, at first ignored bitcoin and so bitcoin was
Speaker 1: ignored for six seven years, kind of just left alone,
Speaker 1: left to kind of grow do their thing. By we
Speaker 1: started seeing people laugh at bitcoin. It's a joke, it's stupid,
Speaker 1: it will never be anything. It's a fat all these things. Um,
Speaker 1: then we got to the point where they started to
Speaker 1: fight it. UM. So we've seen China now has banned
Speaker 1: bitcoin I think nine times now. UM. Other countries have
Speaker 1: thought about it as well, try to do things to
Speaker 1: fight it. Um. And now we're at the final stage
Speaker 1: of that famous quote, which is then they join you
Speaker 1: and so, UM, what what does that mean? Well, we've
Speaker 1: seen first the individuals have started buying bitcoin, storing their
Speaker 1: wealth in bitcoin. It's now my reserve as set. Then
Speaker 1: we started to see over the last year year and
Speaker 1: a half, um, fortune five hundred companies, publicly traded companies
Speaker 1: like micro Strategy actually take their savings what's what they
Speaker 1: would call their treasury reserve and put that into bitcoin.
Speaker 1: So it went from people like you and I, then
Speaker 1: it went to like investors, maybe some hedge fund guys.
Speaker 1: Now it went to publicly traded corporations, and then we
Speaker 1: went to countries. So we've seen El Salvador be the
Speaker 1: very first country to adopt bitcoin as a legal tender.
Speaker 1: And um, when they did that, they launched their own
Speaker 1: wallet's called achiev a wallet, and then a chiev a wallet. Um,
Speaker 1: that's how everybody could get access to bitcoin. They gave
Speaker 1: everybody in the country who downloaded that wallet thirty dollars
Speaker 1: in bitcoin just for downloading it. So, um, hey, congratulations,
Speaker 1: you're an El Salvador citizen. Here's your new wallet, and
Speaker 1: here's thirty dollars in bitcoin. Now, depending on where where
Speaker 1: you're at in the world, most likely here in the
Speaker 1: United States listening to this right now, Uh, thirty dos
Speaker 1: may not sound like that much, but when you're in
Speaker 1: El Salvador, I can guarantee you that's a lot of money.
Speaker 1: It could be a it could be a whole week's
Speaker 1: worth of wages for somebody. So imagine however much money
Speaker 1: you make if if your government gave you a week's
Speaker 1: worth of wages for free, probably the stimmy that's been
Speaker 1: being sent out for the last year, you know, getting
Speaker 1: your extra six d bucks or something like that. And
Speaker 1: so everybody got thirty dollars in bitcoin. Now, what's interesting
Speaker 1: about that is if I don't know how many did,
Speaker 1: I don't have the data on the percentage of what
Speaker 1: the people did with it, But if they would have
Speaker 1: held that bitcoin from the time it went legal tender,
Speaker 1: which was I believe it was September seven, so just
Speaker 1: about a month ago, Um, they would have now doubled
Speaker 1: their money. They did now be sitting on sixty dollars
Speaker 1: a bitcoin, which is pretty cool. Um. So we've seen that.
Speaker 1: And now on top of that, so remember the they
Speaker 1: ignore you, they laugh at you, they fight you, and
Speaker 1: then they join you. So now we've seen people, we've
Speaker 1: seen investors, hedge funds, we've seen publicly traded corporations. Uh,
Speaker 1: now we're seeing countries, countries. That's a big deal by
Speaker 1: the way. You listen to the Mark Mass show, um,
Speaker 1: and we're seeing countries at dot bitcoin and that is
Speaker 1: starting to trigger a domino effect. So we saw just
Speaker 1: a couple of days ago that now bitcoin is set
Speaker 1: to become legal payments in Brazil. So the Brazilian brazil
Speaker 1: Federal Deputy or A Ribeiro, has revealed that Brazilians could
Speaker 1: soon be able to buy houses, cars, and yes, even
Speaker 1: McDonald's with bitcoin. The South American nation is preparing to
Speaker 1: vote on a cryptocurrency regulation bill, which is expected to
Speaker 1: be presented to the Planary of the Chamber of Deputies
Speaker 1: within the next couple of days. Um. And so they
Speaker 1: want to create basically the same thing that El Salvador
Speaker 1: has done and they're not the only ones now. UM.
Speaker 1: If you think what UM El Salvador did is cool, UM,
Speaker 1: the population of Brazil is like ten x the size
Speaker 1: of El Salvador. UM. And then we've we're seeing other
Speaker 1: countries come on board with it and there is even
Speaker 1: more UM. I want to talk about that now. Some
Speaker 1: of the things why these countries want to adopt it
Speaker 1: is for a couple of reasons. One what we've seen
Speaker 1: is in El Salvador since they've opened this up a
Speaker 1: month ago, they've had massive interests of investors coming into
Speaker 1: the markets UM to come into El Salvador, set up businesses,
Speaker 1: to buy real estate, to start moving people down there.
Speaker 1: And they've they've they've they've brought all this investment into
Speaker 1: their country. And of course other countries are watching this
Speaker 1: and they want to bring all that investment as well.
Speaker 1: But again, it's not just about money. I want to
Speaker 1: tell you what it's actually doing to change people's lives UM.
Speaker 1: And when you understand how big it's changing people's lives there,
Speaker 1: you're gonna have a totally totally different perspective and it's
Speaker 1: going to make this seem way bigger than it is.
Speaker 1: So I'm gonna talk about that as soon as I
Speaker 1: come back. You're listening to the Mark Moa Show. All right,
Speaker 1: welcome back. You are listening to the Mark Moss Show,
Speaker 1: and I'm bringing you the latest in information in new
Speaker 1: that you need for Bitcoin, for cryptocurrencies, and for this
Speaker 1: decentralized revolution that's going on. I continue to tell you
Speaker 1: over and over this is not just a new technology.
Speaker 1: It's not a fad, it's not something passing. This will
Speaker 1: literally change the way the world works. It will change
Speaker 1: the direction of the world. Now, we've gone through quite
Speaker 1: a bit so far. UM. If you if you're just
Speaker 1: tuning in, uh, don't miss next week. Put on your
Speaker 1: calendar right now. But we've gone through talking about, you know,
Speaker 1: the bitcoin price. We started talking about e t f s,
Speaker 1: talked about some things that I do and don't like
Speaker 1: about the e t f s UM. Then we started
Speaker 1: talking about and how first it was people using it,
Speaker 1: then then hedge funds, investors, publicly traded companies, and now
Speaker 1: we're seeing countries talking about Al salvador UM. Now Brazil's
Speaker 1: announcing that they want to come on board with it.
Speaker 1: We're seeing about four or five other countries talking about
Speaker 1: the same so now you're kind of caught up. But
Speaker 1: I want to tell you one thing that that most
Speaker 1: people just don't understand. Um, and I have to kind
Speaker 1: of admit that maybe I didn't even understand it either.
Speaker 1: Now I say that with a little bit of embarrassment,
Speaker 1: and maybe I shouldn't have that embarrassment, but it I
Speaker 1: travel a lot. I've been traveling the world for a
Speaker 1: long time, pretty much my entire adult life. Part of
Speaker 1: the reason why because I'm a surfer, and so I'm
Speaker 1: constantly chasing waves all around the world. And as a surfer,
Speaker 1: you're trying to go to the most remote locations that
Speaker 1: you can. The farther you go off the beaten path,
Speaker 1: the more remote the location is, hopefully the less people
Speaker 1: that are there. And so you're always trying to get to,
Speaker 1: you know, remote locations. And so because of that, I've
Speaker 1: gone through lots of very poor countries with very bad
Speaker 1: infrastructure things like that, and so, UM, I tell you,
Speaker 1: I stay, I have a little bit of embarrassment. I
Speaker 1: didn't know this because I have that perspective. I've traveled
Speaker 1: to these countries, but I just haven't necessarily looked at
Speaker 1: them through the through the proper lens and so, UM,
Speaker 1: I've been down to al Sova or a couple of
Speaker 1: times surfing. Um I was recently down there, UM just
Speaker 1: a few months ago. Um, once this law came through
Speaker 1: that they're making bitcoin legal tender. And so I was
Speaker 1: there and UM, I'm I'm working on a project to
Speaker 1: take jobs down there. I'm not gonna get super deep
Speaker 1: into that, but UM, what what I noticed when I
Speaker 1: was there that just changed my perspective on this is that, Um,
Speaker 1: you may not know, but per the u N, there's
Speaker 1: about two billion adults in the world today that have
Speaker 1: no access to financial services. Two billion adults. Now there's
Speaker 1: approximately seven and a half, maybe closer to eight billion
Speaker 1: people in the world. That's from babies to you know,
Speaker 1: old people elderly, and so if there's two billion adults,
Speaker 1: you know, that's probably a little bit more than half
Speaker 1: of the world have no access to the financial services,
Speaker 1: to the financial markets of the world. And so at
Speaker 1: a time when the entire world is screaming for equality,
Speaker 1: equality of everything, right, equality of income equality and uh,
Speaker 1: you know, gender equality and every equality that you can imagine,
Speaker 1: at a time when the whole world is screaming that
Speaker 1: everything must be fair. We have two billion adults that
Speaker 1: have no access to the financial system, and if they
Speaker 1: have no acts to the financial system, how can that
Speaker 1: be fair? There's no equality. But a lot of people,
Speaker 1: unfortunately today are starting to talking about equality of an outcome,
Speaker 1: meaning we should all have the same thing at the end.
Speaker 1: That's ridiculous, that's dangerous, and I reject that. But we
Speaker 1: should at least have equality of an opportunity. We should
Speaker 1: all at least have the opportunity to get ahead. And
Speaker 1: when you have two billion adults who don't even have
Speaker 1: access to the financial system, they do not have equality
Speaker 1: of a of an opportunity. Now why why do they
Speaker 1: not have that? Why why can't they get into the
Speaker 1: financial system? Well they're not allowed to. They're not allowed to,
Speaker 1: that's right. So let me explain what I mean. So, um,
Speaker 1: in order to get a bank account, um, because you know,
Speaker 1: you're a couple hundred bucks could lead to terrorism and
Speaker 1: do all these bad things. Never mind the you know,
Speaker 1: palettes of hundreds of millions of dollars that we've given
Speaker 1: to actual terrorist countries. But your a couple hundred bucks
Speaker 1: good lead to terrorism. And so you are you're under
Speaker 1: this heavy, heavy restriction of two things. It's called k
Speaker 1: y C, Know your Customer and a m L, which
Speaker 1: is anti money laundering, And so all the banks around
Speaker 1: the world have to comply with these two things, k
Speaker 1: y C and a m L. If you've ever gone
Speaker 1: to open up a bank account, you'll know the amount
Speaker 1: of paperwork that you have to put together to open one,
Speaker 1: and it's it's very difficult. Now, that's difficult for you
Speaker 1: in the United States, but when you live in one
Speaker 1: of these third world countries, you don't even have the
Speaker 1: information to give them, so they can't really do the
Speaker 1: k y C or a m L on you. Uh.
Speaker 1: That's one big problem. Another problem is that there's a
Speaker 1: lot of parts of the world where people aren't allowed.
Speaker 1: They're not given permission. So our financial system is called permission.
Speaker 1: It's a permission system. You have to be allowed to
Speaker 1: be given permission to join it. Now, there's a lot
Speaker 1: of people around the world that don't have permission, can't
Speaker 1: get permission. Why. Well, let's say that you're a fifteen
Speaker 1: year old kid and you just happen to grow up
Speaker 1: in uh Iran, and you started a little uh Instagram
Speaker 1: account and you want to start selling some pet supplies
Speaker 1: or whatever. I don't know. Well, you can't join the
Speaker 1: financial system because you were born in Iran and Iran sanctioned.
Speaker 1: You maybe had never anything to do with what's going
Speaker 1: on in the country, but because you were born there,
Speaker 1: you don't get to join the financial system of the world.
Speaker 1: And so there's lots of countries that have that problem.
Speaker 1: The other problem, going back to El Salvador, is that
Speaker 1: while El Salvadorians used the US dollar, they are allowed
Speaker 1: to get into the into the banking system, the world
Speaker 1: financial system. The problem for them is that it's too expensive.
Speaker 1: It's too expensive. So again, um, you have to understand
Speaker 1: that El Salvador and most essential America is very poor,
Speaker 1: as as most of the world is. So um. El
Speaker 1: Salvador is ranked I believe a hundred and seven on
Speaker 1: Global GDP, so out of about hundred eight d ninety countries.
Speaker 1: There in the bottom half of that. And you may
Speaker 1: not know this, but about half the war world lives
Speaker 1: on less than five dollars a day. A half half
Speaker 1: the world lives on less than five dollars day. About
Speaker 1: seventy five percent of the world lives on less than ten.
Speaker 1: So if you make more than ten dollars a day,
Speaker 1: you're in the upper As a matter of fact, if
Speaker 1: you're in the United States listening to this, which I'm
Speaker 1: sure you're at this point, and you make the poverty line,
Speaker 1: you're in the top of like one percent of the world. Anyway,
Speaker 1: back to UM El Salvador. So um, you know, if
Speaker 1: they make a couple hundred bucks a month, they're doing
Speaker 1: really good. Well. The problem is is, just like in
Speaker 1: the United States, it costs money to open up a
Speaker 1: bank account. So you know, it could cost five bucks
Speaker 1: a month or fifty bucks a month to open a
Speaker 1: bank account. Now, the way it typically works in the
Speaker 1: United States with Wells, Fargirl, Bank of America, JP, Morgan, etcetera,
Speaker 1: is that if you keep a minimum balance, then that
Speaker 1: is typically waved. Well, in El Salvador, they're paying twenty
Speaker 1: five to fifty dollars per month for a bank account,
Speaker 1: but they don't have the balances. They don't get those
Speaker 1: fees waved, and so now it's going to cost them
Speaker 1: up to fifty bucks a month of a bank account.
Speaker 1: That could be half of their monthly pay. Can they
Speaker 1: afford to spend could you afford to spend half of
Speaker 1: your income? Just to have a bank account. Of course,
Speaker 1: the answer is no, you can't. You wouldn't. And so
Speaker 1: all of these people and people like that in this
Speaker 1: low income bracket, even if they have permission, even if
Speaker 1: they're allowed to join the global financial system, they can't.
Speaker 1: And so all these people in al Sovadore, literally not
Speaker 1: all of them, but people that are affected by this,
Speaker 1: they don't have bank accounts. They can't join into the
Speaker 1: global financial system. They can't use digital money. Now, um,
Speaker 1: a lot of people still think of the dollars not
Speaker 1: being digital, but about of all dollar transactions are done digital. Um.
Speaker 1: I rarely carry cash around anymore. It's all being done
Speaker 1: with debit cards or credit cards. You know, you're buying
Speaker 1: stuff online, etcetera. And so these people have no way
Speaker 1: to join the global finance system, no way to join
Speaker 1: the digital payment system. Now that's on the that's on
Speaker 1: the on the on the people, that's on the person's side.
Speaker 1: What about the business, says, well, the businesses have a
Speaker 1: very similar problem. The problem for the businesses is that
Speaker 1: again you need to be on the global financial system,
Speaker 1: you need to be uh into the digital payment realm,
Speaker 1: and so um, a lot of the business is down
Speaker 1: there in some of these areas. UM. You know this
Speaker 1: help upoosa is on the side of the road or
Speaker 1: coconuts or things like that. Um, and you need to
Speaker 1: be doing anywhere from fifteen twenty thous dollars a month
Speaker 1: to get a credit card system, a merchant accounts set up.
Speaker 1: And uh, but most of them don't do that much business,
Speaker 1: they don't do that much revenue, and so they're not
Speaker 1: able to get a credit card system and merchant account
Speaker 1: systems set up. And so basically what you have is
Speaker 1: a huge segment of the population as consumers. They don't
Speaker 1: have banking accounts, they're not on in the finance system,
Speaker 1: and the merchants aren't able to join that. How can
Speaker 1: you ever have equality? How could they ever bring their skills,
Speaker 1: their products, their services to the global marketplace if they're
Speaker 1: not allowed into the global financial system. That's not equal.
Speaker 1: That's not equality. Now again I'm not going for equality
Speaker 1: of an outcome, but that they don't even have an opportunity. Well,
Speaker 1: guess what bitcoin fixes that, just like it fixes everything else.
Speaker 1: So um. Bitcoin has now given bank accounts to millions
Speaker 1: and millions of people within weeks that were not able
Speaker 1: to get them and it's even bigger than that. Uh,
Speaker 1: you're listening to the Mark Moa show where I'm talking
Speaker 1: about bitcoin, cryptocurrencies and the decentralized revolution. When I come back,
Speaker 1: I want to talk about some other catalysts that are
Speaker 1: going to push bitcoins higher than you might ever imagine,
Speaker 1: So stick with me.