1 00:00:00,040 --> 00:00:02,559 Speaker 1: All right, welcome back. You are listening to the Markmas Show. 2 00:00:02,560 --> 00:00:05,840 Speaker 1: We're talking about the world as it's changing right before 3 00:00:05,840 --> 00:00:09,600 Speaker 1: our very eyes, as the politics, technology and finance are colliding. 4 00:00:10,080 --> 00:00:12,640 Speaker 1: We're talking about the convergence of those three things. Of course, 5 00:00:12,640 --> 00:00:16,799 Speaker 1: we're talking about bitcoin and cryptocurrencies and how the world 6 00:00:16,920 --> 00:00:18,560 Speaker 1: is changing for our very eyes. Now. I try to 7 00:00:18,640 --> 00:00:21,000 Speaker 1: keep you up to date on what's going on, because 8 00:00:22,480 --> 00:00:24,439 Speaker 1: you can either join in, take advantage of it, or 9 00:00:24,440 --> 00:00:26,720 Speaker 1: you can get left behind. The choice is yours. It's 10 00:00:26,800 --> 00:00:30,280 Speaker 1: it's it's completely up to yours. It's uh, it's voluntary. 11 00:00:30,320 --> 00:00:31,680 Speaker 1: Now a lot of people might say that it's not 12 00:00:31,760 --> 00:00:34,520 Speaker 1: fair because a lot of people won't know tell later 13 00:00:37,479 --> 00:00:42,800 Speaker 1: if the information is out there. I mean, you can 14 00:00:42,880 --> 00:00:44,680 Speaker 1: choose to listen to this or not, right, everybody has 15 00:00:44,680 --> 00:00:47,159 Speaker 1: that choice. Um, I guess there's the if you don't know, 16 00:00:47,200 --> 00:00:48,600 Speaker 1: you don't know kind of a thing. You don't know 17 00:00:48,640 --> 00:00:50,879 Speaker 1: what you don't know kind of a thing. But you 18 00:00:50,960 --> 00:00:52,600 Speaker 1: know you've got no excuse. I'm trying to keep you 19 00:00:52,680 --> 00:00:56,080 Speaker 1: up to date, bringing to you the latest breaking news, 20 00:00:56,080 --> 00:00:58,160 Speaker 1: of course some education around it, and I try to 21 00:00:58,160 --> 00:01:00,520 Speaker 1: bring you some of the most exciting guests of the 22 00:01:00,880 --> 00:01:04,520 Speaker 1: in the space as well. And uh man, there's you know, 23 00:01:04,600 --> 00:01:07,160 Speaker 1: Lennon says this quote that there's decades where nothing seems 24 00:01:07,160 --> 00:01:09,400 Speaker 1: to happen, and then there's days where decades seems to happen. 25 00:01:09,400 --> 00:01:11,640 Speaker 1: And that's kind of where we're at. I remember, Um, 26 00:01:11,760 --> 00:01:13,680 Speaker 1: you know, I've been making videos on my YouTube channel. 27 00:01:13,720 --> 00:01:15,360 Speaker 1: If you're not checking it out, you should. It's just 28 00:01:15,720 --> 00:01:18,120 Speaker 1: just search Mark Moss on YouTube. Um, and I've been 29 00:01:18,120 --> 00:01:19,920 Speaker 1: making videos there for like four years, and they're like, 30 00:01:20,000 --> 00:01:22,680 Speaker 1: you know, twenty minute you know, educational videos where I 31 00:01:22,720 --> 00:01:24,759 Speaker 1: take a topic and kind of break it down in depth. 32 00:01:25,640 --> 00:01:29,720 Speaker 1: And um, if you've been around bitcoin and cryptocurrency long enough, 33 00:01:29,760 --> 00:01:35,240 Speaker 1: then you might know that things were crazy. Like seventeen, 34 00:01:35,280 --> 00:01:38,080 Speaker 1: the prices were just going to the moon, as we say, 35 00:01:38,120 --> 00:01:41,959 Speaker 1: but then in eighteen it crashed and from twenty nineteen 36 00:01:42,000 --> 00:01:44,720 Speaker 1: was just like bear market we call it, right, So 37 00:01:44,720 --> 00:01:48,520 Speaker 1: it's like a long dark winter, if you will. And 38 00:01:48,720 --> 00:01:50,480 Speaker 1: the reason why I'm saying that is because I remember, 39 00:01:51,040 --> 00:01:53,720 Speaker 1: like eighteen was like, we're still pretty running strong from 40 00:01:53,760 --> 00:01:58,720 Speaker 1: the seventeen boom. We're still going pretty good. But man, 41 00:01:58,760 --> 00:02:01,440 Speaker 1: by time came around, I mean, there was just nothing 42 00:02:01,480 --> 00:02:04,760 Speaker 1: going on. There was just nothing to talk about. And um, 43 00:02:04,840 --> 00:02:07,240 Speaker 1: I remember this vividly because I'm making two YouTube videos 44 00:02:07,240 --> 00:02:09,839 Speaker 1: a week, and there was like weeks where like, man, 45 00:02:09,880 --> 00:02:11,160 Speaker 1: what the heck am I even going to talk about? 46 00:02:11,160 --> 00:02:13,000 Speaker 1: And I started making videos that were a little bit 47 00:02:13,000 --> 00:02:16,200 Speaker 1: more broad, um, talking about just like more general like 48 00:02:16,320 --> 00:02:18,760 Speaker 1: business stuff and like even some like kind of like 49 00:02:18,840 --> 00:02:22,040 Speaker 1: personal development type stuff that I'm I'm super into, by 50 00:02:22,080 --> 00:02:24,640 Speaker 1: the way, I just don't talk about here necessarily, but 51 00:02:24,639 --> 00:02:26,120 Speaker 1: I had to kind of start these second videos a 52 00:02:26,120 --> 00:02:29,160 Speaker 1: week talking about those topics because there just wasn't anything 53 00:02:29,160 --> 00:02:32,920 Speaker 1: going on, um. And that's certainly not the case today. Today, 54 00:02:33,040 --> 00:02:35,120 Speaker 1: I need to be making multiple videos a day. And 55 00:02:35,120 --> 00:02:37,280 Speaker 1: as a matter of fact, I believe in the next 56 00:02:37,360 --> 00:02:39,840 Speaker 1: maybe sixty days from now, I'm probably gonna be launching 57 00:02:39,919 --> 00:02:43,840 Speaker 1: a daily show because once a week is just too 58 00:02:43,880 --> 00:02:46,200 Speaker 1: far out. I mean, if there's just so much stuff happening, 59 00:02:46,520 --> 00:02:48,000 Speaker 1: and you need to be paying attention to this if 60 00:02:48,040 --> 00:02:49,880 Speaker 1: you want to witness, if you want to watch, if 61 00:02:49,880 --> 00:02:52,560 Speaker 1: you want to know you know, how this transition is happening, 62 00:02:54,120 --> 00:02:56,120 Speaker 1: and so um, we're you know, if we if we 63 00:02:56,280 --> 00:02:59,280 Speaker 1: and we have to watch those three things, watch politics, 64 00:02:59,360 --> 00:03:01,640 Speaker 1: but not just Paul ticks for politics stakes, but politics 65 00:03:01,639 --> 00:03:05,280 Speaker 1: in in a sense of how it's intersecting with finance. 66 00:03:05,680 --> 00:03:08,440 Speaker 1: And then of course, like I said, with technology, and 67 00:03:08,480 --> 00:03:11,000 Speaker 1: that's the piece that most people seem to be missing out. Um, 68 00:03:11,040 --> 00:03:13,360 Speaker 1: and something that's kind of at the forefront or right 69 00:03:13,400 --> 00:03:16,040 Speaker 1: in the middle, actually say that convergence of actually all 70 00:03:16,080 --> 00:03:20,560 Speaker 1: three it's technology, it's politics, and its finance is This 71 00:03:20,600 --> 00:03:23,840 Speaker 1: week we've had some of the biggest news was Elon 72 00:03:23,960 --> 00:03:28,800 Speaker 1: Musk offers to buy Twitter. Like, what now, A lot 73 00:03:28,880 --> 00:03:31,600 Speaker 1: of you guys, Uh, I'd be interesting to know how 74 00:03:31,600 --> 00:03:35,520 Speaker 1: many people use Twitter. Um, hit me up on Twitter. 75 00:03:36,160 --> 00:03:37,680 Speaker 1: If you use a Twitter, hit me up on Twitter 76 00:03:37,680 --> 00:03:39,000 Speaker 1: and let me know you can find me on Twitter 77 00:03:39,080 --> 00:03:42,120 Speaker 1: at one. Mark moss Um, you know, I didn't use 78 00:03:42,160 --> 00:03:43,640 Speaker 1: Twitter for a long time. I haven't been using this 79 00:03:43,640 --> 00:03:45,520 Speaker 1: since the beginning. I've been on it for a couple 80 00:03:45,600 --> 00:03:48,480 Speaker 1: three or four years now at this point. Um, it's amazing. 81 00:03:48,800 --> 00:03:51,200 Speaker 1: It's amazing. Um, it can it's a tool, and it 82 00:03:51,200 --> 00:03:53,320 Speaker 1: can definitely be a time suck and you could definitely 83 00:03:53,360 --> 00:03:55,400 Speaker 1: lose a lot of time there. But it's also amazing 84 00:03:55,440 --> 00:03:57,600 Speaker 1: for the amount of relationships that and and information that 85 00:03:57,680 --> 00:04:00,520 Speaker 1: you can gather. You know, a lot of people still 86 00:04:00,560 --> 00:04:02,160 Speaker 1: think we have to go to college to meet people. 87 00:04:02,200 --> 00:04:04,720 Speaker 1: But I mean, I've met everybody on Twitter. I mean 88 00:04:04,800 --> 00:04:07,360 Speaker 1: I was having a barbecue at Michael Saylor's house last 89 00:04:07,360 --> 00:04:09,800 Speaker 1: week and I've met him on Twitter. Right, Um, but 90 00:04:09,880 --> 00:04:13,440 Speaker 1: Twitter has become this town square, if you will. And 91 00:04:13,520 --> 00:04:16,240 Speaker 1: so in the United States were guaranteed freedom of speech, 92 00:04:16,760 --> 00:04:18,600 Speaker 1: and its freedom of speech is guaranteed, and what they 93 00:04:18,640 --> 00:04:20,800 Speaker 1: considered like the town square. And so the town square, 94 00:04:20,800 --> 00:04:22,960 Speaker 1: obviously at the time when they when they wrote the Constitution, 95 00:04:23,320 --> 00:04:25,800 Speaker 1: was where people would go to gather and exchange ideas, 96 00:04:26,000 --> 00:04:27,839 Speaker 1: and so it was kind of a protected place that 97 00:04:27,880 --> 00:04:30,480 Speaker 1: people go there and have their voice heard and hear 98 00:04:30,520 --> 00:04:33,800 Speaker 1: from other people things like that. Today, we don't really 99 00:04:33,839 --> 00:04:35,960 Speaker 1: have those town squares as much anymore. Now the town 100 00:04:36,000 --> 00:04:40,720 Speaker 1: squares have moved online, so Facebook, Twitter, Uh, those are 101 00:04:40,720 --> 00:04:43,960 Speaker 1: our town squares. That's where people go, and those should 102 00:04:43,960 --> 00:04:46,400 Speaker 1: be protected under that freedom of speech. And this gets 103 00:04:46,400 --> 00:04:48,520 Speaker 1: a little bit messy because then people say, well, those 104 00:04:48,520 --> 00:04:52,120 Speaker 1: are private companies, and I'm all for private property rights. 105 00:04:52,360 --> 00:04:54,040 Speaker 1: And this is where I start to find myself even 106 00:04:54,080 --> 00:04:56,880 Speaker 1: a little bit conflicted, where it's like, well, I believe 107 00:04:56,920 --> 00:04:59,240 Speaker 1: in private property rights, and as a business owner. I 108 00:04:59,279 --> 00:05:01,880 Speaker 1: should have the ability to do what I want with 109 00:05:01,920 --> 00:05:04,839 Speaker 1: my business. If you don't like me, don't do business. 110 00:05:04,880 --> 00:05:06,440 Speaker 1: So I could see Twitter saying, well, hey, we're a 111 00:05:06,440 --> 00:05:09,320 Speaker 1: private company. If you don't like our censorship policies, then 112 00:05:09,520 --> 00:05:11,960 Speaker 1: go use another platform, go build your one, and so 113 00:05:12,000 --> 00:05:14,240 Speaker 1: on one hand, I want to protect that because I 114 00:05:14,279 --> 00:05:16,680 Speaker 1: agree with them. It is a private property. It is 115 00:05:16,680 --> 00:05:19,040 Speaker 1: a private business. I mean, it's a publicly traded business. 116 00:05:19,040 --> 00:05:21,280 Speaker 1: But they should have the ability to pick and choose 117 00:05:21,279 --> 00:05:23,440 Speaker 1: who they want to use on their platform. However, at 118 00:05:23,440 --> 00:05:26,840 Speaker 1: the same time, it's become this town square. And because 119 00:05:26,880 --> 00:05:30,160 Speaker 1: it's become this town square, Um, it's also protected under 120 00:05:30,160 --> 00:05:31,640 Speaker 1: the First Amendment. So there's a little bit of gray 121 00:05:31,720 --> 00:05:35,080 Speaker 1: area here. Um. And so I find myself conflicted. These 122 00:05:35,080 --> 00:05:36,800 Speaker 1: are not black and white issues. It's a big problem 123 00:05:36,839 --> 00:05:39,480 Speaker 1: that I see in the world today. Um, everyone not everyone. 124 00:05:39,960 --> 00:05:42,360 Speaker 1: A lot of people I talked to are very binary. 125 00:05:42,440 --> 00:05:44,440 Speaker 1: It's either black or white. It's either this or that, 126 00:05:44,520 --> 00:05:46,000 Speaker 1: and that's just not how the world is. Everything has 127 00:05:46,000 --> 00:05:48,640 Speaker 1: a lot of nuance, and so, UM, you know, I'm 128 00:05:48,680 --> 00:05:51,320 Speaker 1: conflicted on on both of these. Um. The problem that 129 00:05:51,360 --> 00:05:53,400 Speaker 1: I have is that you know, the town squares are 130 00:05:53,440 --> 00:05:56,839 Speaker 1: protected in the First Amendment. Also, internet platforms were given 131 00:05:56,960 --> 00:06:01,440 Speaker 1: a special exemption to keep them from getting shut down 132 00:06:01,440 --> 00:06:05,600 Speaker 1: by lawsuits. And it's called Section two thirty. If you uh, 133 00:06:05,680 --> 00:06:07,840 Speaker 1: you might remember Trump talking about Section two thirty. And 134 00:06:07,880 --> 00:06:09,880 Speaker 1: it's basically like, look, if you guys want to censor content, 135 00:06:09,920 --> 00:06:12,159 Speaker 1: then you can't be protected under the section two thirty. 136 00:06:12,560 --> 00:06:14,800 Speaker 1: I don't want to dig deep into that, but basically 137 00:06:14,839 --> 00:06:18,440 Speaker 1: Twitter has become more and more and more heavy handed 138 00:06:18,440 --> 00:06:21,839 Speaker 1: with their censorship. UM. It really has accelerated in the 139 00:06:21,880 --> 00:06:24,600 Speaker 1: last couple of months since Jack Dorsey, the founder, stepped 140 00:06:24,600 --> 00:06:28,440 Speaker 1: down and they were taken over by their new president. UM. 141 00:06:28,560 --> 00:06:30,479 Speaker 1: I figured that his name off top at Arnwall. I 142 00:06:30,480 --> 00:06:33,400 Speaker 1: think it is something like that. UM. And so you know, 143 00:06:33,480 --> 00:06:37,159 Speaker 1: they're very, very very heavy handed with their censorship. UM. 144 00:06:37,200 --> 00:06:40,480 Speaker 1: For example, UM, the New York Post ran a story 145 00:06:40,520 --> 00:06:43,920 Speaker 1: about the Hunter Biden laptop and anybody who even read 146 00:06:44,080 --> 00:06:45,960 Speaker 1: And the New York Post is not something like fly 147 00:06:46,000 --> 00:06:49,080 Speaker 1: by Night, like all all news site. It's I think 148 00:06:49,080 --> 00:06:50,880 Speaker 1: it's like the oldest news publication or one of the 149 00:06:50,920 --> 00:06:53,240 Speaker 1: oldest news publication in the United States. And they ran 150 00:06:53,240 --> 00:06:55,520 Speaker 1: a story about this Hunter Biden laptop and anybody who 151 00:06:55,520 --> 00:06:59,440 Speaker 1: even shared their story or even retweeted it got their 152 00:06:59,480 --> 00:07:02,120 Speaker 1: account shut down on Twitter. They just shut him down. 153 00:07:02,480 --> 00:07:04,240 Speaker 1: And of course today now it's all over the news 154 00:07:04,240 --> 00:07:06,560 Speaker 1: the last month or so that the Hunter Biden, the 155 00:07:06,839 --> 00:07:09,840 Speaker 1: Biden Hunter Hunter Biden laptop is true and it is 156 00:07:09,920 --> 00:07:11,920 Speaker 1: real and and and there is damning evidence and he 157 00:07:11,960 --> 00:07:13,960 Speaker 1: isn't a lot of trouble and it's all real. But 158 00:07:13,960 --> 00:07:16,360 Speaker 1: it didn't meet. It didn't matter that Twitter still shut 159 00:07:16,360 --> 00:07:19,560 Speaker 1: everybody down. And so, uh, it's like I said that 160 00:07:19,560 --> 00:07:21,080 Speaker 1: that was that was a year ago or two years ago. 161 00:07:21,160 --> 00:07:23,560 Speaker 1: And now we're really seeing this escalate and somebody who's 162 00:07:23,560 --> 00:07:25,960 Speaker 1: been super outspoken as Elon Musk, and Elon Musk keeps 163 00:07:26,000 --> 00:07:29,160 Speaker 1: talking about, hey, we need to have free speech. Hey 164 00:07:29,200 --> 00:07:31,720 Speaker 1: you shouldn't be so you know, so heavy handed with censorship, etcetera. 165 00:07:32,240 --> 00:07:35,040 Speaker 1: And uh, he basically just decided to step up and 166 00:07:35,040 --> 00:07:37,400 Speaker 1: put his put his money where his mouth is. And 167 00:07:37,520 --> 00:07:39,640 Speaker 1: uh it was. It came out in the last week 168 00:07:39,760 --> 00:07:42,600 Speaker 1: or so that he had actually purchased almost ten percent 169 00:07:42,720 --> 00:07:45,320 Speaker 1: of the company, which makes him the single largest shareholder 170 00:07:45,360 --> 00:07:48,480 Speaker 1: of the company. And they offered him a board seat, 171 00:07:48,480 --> 00:07:50,440 Speaker 1: which he turned down, which you would think if he 172 00:07:50,480 --> 00:07:51,720 Speaker 1: was on the board, he would have a little bit 173 00:07:51,760 --> 00:07:54,120 Speaker 1: of power and maybe he could do something about what 174 00:07:54,160 --> 00:07:57,800 Speaker 1: he's unhappy with UM. But he turned that offer down, 175 00:07:58,560 --> 00:08:02,840 Speaker 1: and then there was speculation why would he turn that down? Well, 176 00:08:03,120 --> 00:08:05,040 Speaker 1: people speculate that he probably turned it down so he 177 00:08:05,080 --> 00:08:07,280 Speaker 1: could take over control and interest of the company, and 178 00:08:07,360 --> 00:08:10,240 Speaker 1: certain sure enough, that's exactly what happened. He announced um 179 00:08:10,320 --> 00:08:13,280 Speaker 1: that he wants to buy out Twitter UM at a 180 00:08:13,320 --> 00:08:16,840 Speaker 1: price of about fifty four dollars per share, which values 181 00:08:16,840 --> 00:08:20,440 Speaker 1: the company of forty one billion. That represents a thirty 182 00:08:20,520 --> 00:08:24,520 Speaker 1: eight percent premium over its price, as it's eight premium 183 00:08:24,680 --> 00:08:26,960 Speaker 1: over where it closed at the day of the announcement, 184 00:08:27,280 --> 00:08:29,440 Speaker 1: which is pretty pretty big deal. And so he's gonna 185 00:08:29,440 --> 00:08:31,840 Speaker 1: put his money where his mouth is. He's like, look, quote, 186 00:08:31,880 --> 00:08:33,720 Speaker 1: I invested in Twitter as I believe in its potential 187 00:08:33,720 --> 00:08:36,040 Speaker 1: to be the platform for free speech around the globe, 188 00:08:36,080 --> 00:08:39,200 Speaker 1: and I believe free speech is a societal imperative for 189 00:08:39,280 --> 00:08:43,040 Speaker 1: a functioning democracy, he said in a letter to Twitter UM. 190 00:08:43,160 --> 00:08:45,240 Speaker 1: So he says, however, since making my investment and not 191 00:08:45,320 --> 00:08:47,880 Speaker 1: realized the company will neither thrive nor serve the societal 192 00:08:47,880 --> 00:08:50,760 Speaker 1: imperative in its current form. It needs to be transformed 193 00:08:50,800 --> 00:08:54,040 Speaker 1: as a private company. Pretty big news. Of course, the 194 00:08:54,080 --> 00:08:57,160 Speaker 1: world is erupting about this. UM. I got a little 195 00:08:57,200 --> 00:08:59,719 Speaker 1: bit more to say about that. UM. I also want 196 00:08:59,720 --> 00:09:02,600 Speaker 1: to talk about previous Twitter founder Jack Torsey and his 197 00:09:02,880 --> 00:09:08,160 Speaker 1: n f T that he sold for like million. I 198 00:09:08,200 --> 00:09:09,640 Speaker 1: want to talk about that. And then I want to 199 00:09:09,679 --> 00:09:12,120 Speaker 1: give you some crypto tax tips. It is tax season. 200 00:09:12,240 --> 00:09:16,120 Speaker 1: I want to give some cryptocurrency tax tips, UM. And 201 00:09:16,120 --> 00:09:18,120 Speaker 1: then I have some issue, some some stories. I want 202 00:09:18,120 --> 00:09:20,559 Speaker 1: to talk about how the financial system is literally changing 203 00:09:20,720 --> 00:09:22,240 Speaker 1: right before very eyes this week, and if you're not 204 00:09:22,280 --> 00:09:24,520 Speaker 1: paying attention, you're gonna get left behind. I got a 205 00:09:24,520 --> 00:09:26,400 Speaker 1: lot more to cover. Let's try and get through it quickly, 206 00:09:26,440 --> 00:09:29,199 Speaker 1: so do not go away. You're listening to the Mark 207 00:09:29,280 --> 00:09:32,920 Speaker 1: mos Show talking about bitcoin and cryptocurrencies. I'll be right back. 208 00:09:33,920 --> 00:09:36,240 Speaker 1: All right, Welcome back. You're listening to the Mark Moa Show. 209 00:09:36,280 --> 00:09:39,520 Speaker 1: We're talking about bitcoin and cryptocurrencies and the d centralized 210 00:09:39,600 --> 00:09:42,920 Speaker 1: revolution that we're living through that we're witnessing. The world 211 00:09:43,000 --> 00:09:46,520 Speaker 1: is changing before our very eyes as politics, technology and 212 00:09:46,559 --> 00:09:49,960 Speaker 1: finance clash and come together. And it couldn't have been 213 00:09:50,080 --> 00:09:55,280 Speaker 1: highlighted more than this week's news of Elon musk politics, finance, technology. 214 00:09:55,320 --> 00:10:00,240 Speaker 1: He's got the financing to buy a technology platform of Twitter, 215 00:10:00,280 --> 00:10:02,199 Speaker 1: but then there's politics that go into the play and 216 00:10:02,280 --> 00:10:06,640 Speaker 1: see what I'm talking about. So, um all, a lot 217 00:10:06,720 --> 00:10:08,920 Speaker 1: of Twitter employees are like, I'm gonna walk out. I'm 218 00:10:08,920 --> 00:10:11,080 Speaker 1: gonna quit if he if he buys, because we don't 219 00:10:11,120 --> 00:10:14,960 Speaker 1: want free speech anymore. Imagine that in the United States, 220 00:10:15,040 --> 00:10:17,400 Speaker 1: where he says, uh, quote, I invested in Twitter as 221 00:10:17,400 --> 00:10:19,200 Speaker 1: I believe in its potential to be the platform for 222 00:10:19,280 --> 00:10:21,720 Speaker 1: free speech around the globe. I believe free speech is 223 00:10:21,720 --> 00:10:26,040 Speaker 1: a societal imperative for a functioning democracy. That's his quote. 224 00:10:26,240 --> 00:10:29,000 Speaker 1: And then you literally have people mad saying they're gonna 225 00:10:29,080 --> 00:10:32,920 Speaker 1: quit Twitter because he wants to be a platform for 226 00:10:33,000 --> 00:10:36,440 Speaker 1: free speech. I mean, how far has this world fallen? 227 00:10:36,559 --> 00:10:41,840 Speaker 1: I mean, that's just insane. I I guess I'm just old. 228 00:10:42,240 --> 00:10:45,360 Speaker 1: I don't know. I guess I'm just old because I 229 00:10:45,400 --> 00:10:47,559 Speaker 1: grew up in America that was free and we had 230 00:10:47,600 --> 00:10:51,000 Speaker 1: freedom of speech. And uh to think that people literally 231 00:10:51,000 --> 00:10:54,240 Speaker 1: are mad and want to quit their jobs because somebody 232 00:10:54,320 --> 00:10:58,600 Speaker 1: wants to make it free speech for as they say, 233 00:10:59,120 --> 00:11:01,840 Speaker 1: functioning to ma Orcie, I thought those were things we wanted, 234 00:11:03,320 --> 00:11:05,520 Speaker 1: you know, The thing with freedom of speech is that, Um, 235 00:11:05,559 --> 00:11:07,720 Speaker 1: not only by me having the freedom to say what 236 00:11:07,760 --> 00:11:10,559 Speaker 1: I want to say is is important. But if if 237 00:11:10,600 --> 00:11:15,120 Speaker 1: my speech is censored, then your right to hear has 238 00:11:15,160 --> 00:11:18,880 Speaker 1: also been censored. Now everybody has a right to listen. 239 00:11:19,280 --> 00:11:21,599 Speaker 1: You don't have to follow me on Twitter. If you 240 00:11:21,640 --> 00:11:23,480 Speaker 1: don't like what I have to say, you don't have 241 00:11:23,559 --> 00:11:28,760 Speaker 1: to listen to it. Twitter has filters, you can filter 242 00:11:28,800 --> 00:11:31,120 Speaker 1: out certain words, you can block and mute certain people. 243 00:11:31,160 --> 00:11:34,680 Speaker 1: You don't have to follow them. Man to think that 244 00:11:34,679 --> 00:11:36,760 Speaker 1: we're in a world today where people are so mad 245 00:11:36,800 --> 00:11:39,320 Speaker 1: that he wants to in his own words, um, making 246 00:11:39,320 --> 00:11:41,480 Speaker 1: a platform for free speech is pretty amazing. Um. It's 247 00:11:41,480 --> 00:11:43,280 Speaker 1: gonna be interesting to see how this plays out because 248 00:11:43,280 --> 00:11:46,640 Speaker 1: he's offered such a huge um premium. It says here 249 00:11:46,640 --> 00:11:48,720 Speaker 1: it will be difficult for Twitter to reject must bid 250 00:11:48,720 --> 00:11:52,079 Speaker 1: at the price he is offering. Um quote, Musk is 251 00:11:52,080 --> 00:11:55,520 Speaker 1: putting the Twitter boards backs against the wall because the 252 00:11:55,559 --> 00:11:57,559 Speaker 1: premiums at a level that will be hard to see 253 00:11:57,640 --> 00:12:02,000 Speaker 1: other bids occurring. So basically, you know, as the CEO, 254 00:12:02,240 --> 00:12:06,360 Speaker 1: as a board member, I'm legally required to um, look 255 00:12:06,400 --> 00:12:09,600 Speaker 1: at the to watch out for the fiduciary duty of 256 00:12:09,640 --> 00:12:11,480 Speaker 1: the company, and if they offer to give me that 257 00:12:11,559 --> 00:12:14,719 Speaker 1: much money, like I kind of have to take that. Um, 258 00:12:14,800 --> 00:12:17,240 Speaker 1: So it's gonna be pretty interesting to see how that's 259 00:12:17,280 --> 00:12:21,360 Speaker 1: going to play out now, you know, it's pretty amazing 260 00:12:21,400 --> 00:12:23,240 Speaker 1: that someone could just wake up and say, let's just 261 00:12:23,240 --> 00:12:25,680 Speaker 1: buy a forty six billion dollar or fifty four billion 262 00:12:25,720 --> 00:12:28,840 Speaker 1: dollar company today. It's a sign of our financial system 263 00:12:28,840 --> 00:12:30,920 Speaker 1: and how far it's fallen that somebody like must could 264 00:12:30,960 --> 00:12:32,400 Speaker 1: get that much money in the first place. I think 265 00:12:32,520 --> 00:12:34,640 Speaker 1: is worth is like over two billion now, it's crazy. 266 00:12:35,880 --> 00:12:37,920 Speaker 1: But talking about Twitter, I also want to talk about 267 00:12:37,920 --> 00:12:40,600 Speaker 1: something else because the previous founder, well I guess it's 268 00:12:40,600 --> 00:12:43,600 Speaker 1: still the founder, but previously know, Jack Dorsey recently stepped 269 00:12:43,600 --> 00:12:46,439 Speaker 1: down a couple of months ago. Um, when this is 270 00:12:46,480 --> 00:12:49,360 Speaker 1: a whole n f T boom was going on like crazy, 271 00:12:49,400 --> 00:12:50,840 Speaker 1: and it's something that you don't hear me talk a 272 00:12:50,840 --> 00:12:53,920 Speaker 1: lot about because oh I don't talk a lot about 273 00:12:53,920 --> 00:12:56,120 Speaker 1: because exactly what I'm gonna tell you right here. So 274 00:12:56,280 --> 00:12:58,320 Speaker 1: this whole n f T thing went so crazy and 275 00:12:58,320 --> 00:13:00,360 Speaker 1: everyone's buying all, you know, spend all the money for 276 00:13:00,400 --> 00:13:02,880 Speaker 1: these n f T s, for these these board apes 277 00:13:02,920 --> 00:13:05,960 Speaker 1: and these zombies, and you know whatever, whatever, right anything 278 00:13:05,960 --> 00:13:07,800 Speaker 1: with an n f T people wanted to buy. And 279 00:13:07,920 --> 00:13:11,680 Speaker 1: Jack Dorsey took his very first tweet ever, the first 280 00:13:11,679 --> 00:13:14,160 Speaker 1: tweet that went up, and he sold it as an 281 00:13:14,320 --> 00:13:18,040 Speaker 1: n f T. It went on sale for forty eight 282 00:13:18,200 --> 00:13:22,079 Speaker 1: million dollars and it ended with the top bid of two. 283 00:13:22,360 --> 00:13:25,400 Speaker 1: Well yeah, it went on sale for forty eight million dollars. 284 00:13:27,200 --> 00:13:30,200 Speaker 1: And actually what happened is, um, it went on sale, sorry, 285 00:13:30,400 --> 00:13:33,880 Speaker 1: and it was purchased for two point nine million last year, 286 00:13:34,080 --> 00:13:35,920 Speaker 1: So someone bought it for two point a million, which 287 00:13:36,080 --> 00:13:38,920 Speaker 1: I mean, why right, It's it's a tweet. I could 288 00:13:38,960 --> 00:13:41,160 Speaker 1: screen grab the tweet just like you could scream grab 289 00:13:41,160 --> 00:13:43,959 Speaker 1: the tweet. We both have the tweet. Um, I'm not 290 00:13:44,000 --> 00:13:47,360 Speaker 1: gonna dig super deep into that, but like somebody supposedly 291 00:13:47,480 --> 00:13:50,160 Speaker 1: has a legal claim to owning it, but what difference 292 00:13:50,200 --> 00:13:52,080 Speaker 1: does it make if we all have the tweet or 293 00:13:52,080 --> 00:13:55,120 Speaker 1: that we all have the jpeg on our computer. And 294 00:13:55,160 --> 00:13:57,960 Speaker 1: that's exactly what happened, And so everyone's all hyped up 295 00:13:57,960 --> 00:14:00,960 Speaker 1: on this. Um he sold it. Everyone has a copy 296 00:14:01,000 --> 00:14:03,120 Speaker 1: of it. I got a copy, you have a copy, 297 00:14:03,120 --> 00:14:05,160 Speaker 1: anyone who has Twitter as a copy. But he paid 298 00:14:05,760 --> 00:14:07,880 Speaker 1: uh for that? You know, he paid two point nine 299 00:14:07,880 --> 00:14:10,360 Speaker 1: million for that. Well, he decided that he wanted to 300 00:14:10,360 --> 00:14:13,560 Speaker 1: sell it and uh, the current owner of the n 301 00:14:13,600 --> 00:14:17,360 Speaker 1: f T listed it for forty eight million dollars last week. 302 00:14:17,400 --> 00:14:19,200 Speaker 1: So he bought it a year ago for two point 303 00:14:19,280 --> 00:14:21,440 Speaker 1: nine and then he thought he could sell it for 304 00:14:21,440 --> 00:14:25,880 Speaker 1: forty eight million dollars last week. He wanted to sell it, 305 00:14:25,960 --> 00:14:28,680 Speaker 1: and he said he would pledget of his proceeds, which 306 00:14:28,680 --> 00:14:32,240 Speaker 1: would be about million. He pledged it to charity. Well, 307 00:14:32,360 --> 00:14:37,760 Speaker 1: the auction closed on Wednesday with seven total offers h 308 00:14:39,360 --> 00:14:42,040 Speaker 1: with the highest bid of two hundred and seventy seven 309 00:14:42,120 --> 00:14:48,240 Speaker 1: dollars two seventy seven dollars. So he didn't sell it. 310 00:14:49,000 --> 00:14:51,040 Speaker 1: He paid two point nine for some reason, thought he'd 311 00:14:51,040 --> 00:14:53,560 Speaker 1: get forty eight and now he can sell it for 312 00:14:53,560 --> 00:14:56,760 Speaker 1: two seventy seven dollars. So h That's about how n 313 00:14:56,800 --> 00:14:59,160 Speaker 1: f t s are going. And unfortunately a lot of 314 00:14:59,160 --> 00:15:01,480 Speaker 1: people that bought nf teas are finding themselves in the 315 00:15:01,520 --> 00:15:04,120 Speaker 1: same boat. Um, the n f t s they bought 316 00:15:04,120 --> 00:15:05,360 Speaker 1: that they thought would be worth a lot of money 317 00:15:05,360 --> 00:15:06,720 Speaker 1: are not. And that's one of the reason why I 318 00:15:06,720 --> 00:15:08,320 Speaker 1: don't talk about n f t s a lot right now. 319 00:15:08,400 --> 00:15:11,040 Speaker 1: There are things that I think in the future that 320 00:15:11,080 --> 00:15:14,120 Speaker 1: they might have some useful use cases for buying tweets 321 00:15:14,120 --> 00:15:17,160 Speaker 1: from Jack Dorsey is definitely not one of those things. Um. 322 00:15:17,240 --> 00:15:20,480 Speaker 1: Something else I want to talk about was my favorite 323 00:15:20,480 --> 00:15:23,120 Speaker 1: subject in the world to talk about. I'm just kidding. 324 00:15:23,120 --> 00:15:26,480 Speaker 1: It's my least favorite subjects talk about. It's uh, it's 325 00:15:26,520 --> 00:15:29,080 Speaker 1: something I enjoy about as much as going to the dentist, 326 00:15:29,280 --> 00:15:33,560 Speaker 1: which means I don't enjoy it at all. Um and uh, 327 00:15:33,560 --> 00:15:35,200 Speaker 1: but it's something that's important to talk about. And of 328 00:15:35,200 --> 00:15:37,600 Speaker 1: course I'm talking about taxes, and it's important to talk 329 00:15:37,640 --> 00:15:40,560 Speaker 1: about because it's that time of year. It's tax time 330 00:15:40,560 --> 00:15:43,400 Speaker 1: of year, and so when you're dealing with cryptocurrencies, taxes 331 00:15:43,440 --> 00:15:46,520 Speaker 1: get very tricky, and so, um, I want to see 332 00:15:46,560 --> 00:15:48,920 Speaker 1: there's I saw this article so that three crypto tax 333 00:15:48,960 --> 00:15:52,080 Speaker 1: tips to avoid I R S trouble. There's two things 334 00:15:52,080 --> 00:15:54,120 Speaker 1: in life that are certain, death and taxes. You certainly 335 00:15:54,120 --> 00:15:55,760 Speaker 1: do not want to mess around with the I R S. 336 00:15:56,040 --> 00:15:57,840 Speaker 1: You know, there's all this talk about Trump and his 337 00:15:58,000 --> 00:16:00,560 Speaker 1: tax returns and how you broke the on. They want 338 00:16:00,560 --> 00:16:03,320 Speaker 1: to investigate his tax returns and he's been evading taxes. 339 00:16:03,360 --> 00:16:05,800 Speaker 1: It's like, come on, whoever is making those headlines. Have 340 00:16:05,880 --> 00:16:08,120 Speaker 1: no idea how the I R S works. I can 341 00:16:08,160 --> 00:16:11,040 Speaker 1: guarantee you from someone who's been in the taxes for 342 00:16:11,200 --> 00:16:14,840 Speaker 1: a long time, nobody's getting away with that, especially somebody 343 00:16:14,880 --> 00:16:18,400 Speaker 1: as high profile as Trump. You do not get away 344 00:16:18,440 --> 00:16:20,560 Speaker 1: with tax for the I R S will always get 345 00:16:20,600 --> 00:16:22,960 Speaker 1: you death and taxes you don't get away from them. 346 00:16:23,080 --> 00:16:25,160 Speaker 1: But a couple of tips that I saw here was 347 00:16:25,200 --> 00:16:28,080 Speaker 1: that just so you know that anytime you exchange one 348 00:16:28,160 --> 00:16:31,320 Speaker 1: crypto for another, or an n f T for crypto. 349 00:16:31,400 --> 00:16:33,480 Speaker 1: So let's say that you took your bitcoin and sold 350 00:16:33,480 --> 00:16:35,080 Speaker 1: the for a stable coin, and then you earn yield 351 00:16:35,080 --> 00:16:36,320 Speaker 1: on it, and then you bought the n f T, 352 00:16:36,920 --> 00:16:41,880 Speaker 1: those are all taxable events. So um trading one crypto 353 00:16:41,960 --> 00:16:46,080 Speaker 1: for another crypto is a taxable event. The other thing 354 00:16:46,160 --> 00:16:47,760 Speaker 1: is that if you've been doing some of this yield 355 00:16:47,840 --> 00:16:50,200 Speaker 1: farming on defy some of the staking and things like that, 356 00:16:50,240 --> 00:16:53,240 Speaker 1: then you probably actually have two different types of of 357 00:16:53,640 --> 00:16:57,280 Speaker 1: taxes that are owed. So you're gonna own um, you're 358 00:16:57,280 --> 00:17:01,000 Speaker 1: gonna owe taxes for any mining staking also air drops. 359 00:17:01,000 --> 00:17:03,920 Speaker 1: If you've got tokens given to you, you're staking them 360 00:17:03,920 --> 00:17:08,199 Speaker 1: your earned interest, Well, you're gonna have taxes do on 361 00:17:08,320 --> 00:17:11,760 Speaker 1: that UM, and then if you sell that, you also 362 00:17:11,800 --> 00:17:14,080 Speaker 1: have a capital gains tax or loss. It could be 363 00:17:14,119 --> 00:17:16,640 Speaker 1: a loss as well. So you want to make sure 364 00:17:16,680 --> 00:17:18,879 Speaker 1: that you're looking at both of those types of income 365 00:17:18,920 --> 00:17:22,280 Speaker 1: air drops, staking, mining, et cetera. Plus when you sell that, 366 00:17:22,440 --> 00:17:25,760 Speaker 1: you have the income, plus you have the capital gains. 367 00:17:26,640 --> 00:17:28,520 Speaker 1: And I just know that on the front of your 368 00:17:28,520 --> 00:17:31,280 Speaker 1: tax returns, front and center, there's a question says, were 369 00:17:31,320 --> 00:17:34,480 Speaker 1: you engaged in any transaction involved in virtual currency UM? 370 00:17:34,520 --> 00:17:38,800 Speaker 1: And if you were, then you must answer yes. All right, now, 371 00:17:38,920 --> 00:17:42,119 Speaker 1: I recommend that you get a professional tax you know, 372 00:17:42,240 --> 00:17:44,480 Speaker 1: tax professional help you with this. It's not something you 373 00:17:44,480 --> 00:17:47,000 Speaker 1: should probably do on your own. So don't take my advice. 374 00:17:47,040 --> 00:17:49,320 Speaker 1: Go get a tax professional, but just look out for 375 00:17:49,359 --> 00:17:52,080 Speaker 1: those couple of things, because man, you do not want 376 00:17:52,080 --> 00:17:54,960 Speaker 1: to get in trouble with the tax Man'll take it 377 00:17:55,000 --> 00:17:57,199 Speaker 1: from me. Which, by the way, you're listening to the 378 00:17:57,200 --> 00:18:01,000 Speaker 1: markma Show, and we're talking about bitcoin and cryptocurrencies and 379 00:18:01,040 --> 00:18:04,320 Speaker 1: the decentralized revolution that we are going through right now, 380 00:18:04,760 --> 00:18:07,760 Speaker 1: talking about some of the politics, finance, and technology issues 381 00:18:07,840 --> 00:18:10,040 Speaker 1: that we can see happening. I got a lot more 382 00:18:10,080 --> 00:18:11,320 Speaker 1: to go through. I want to talk about how the 383 00:18:11,320 --> 00:18:14,879 Speaker 1: financial system is just changing on a global level right now. Um, 384 00:18:15,080 --> 00:18:16,840 Speaker 1: you don't want to miss it. I'll be right back. 385 00:18:17,080 --> 00:18:19,920 Speaker 1: Don't go away, all right, welcome back. You are listening 386 00:18:19,960 --> 00:18:23,240 Speaker 1: to the Mark Mos Show. We're talking about bitcoin and 387 00:18:23,240 --> 00:18:26,480 Speaker 1: cryptocurrencies and the decentralized revolution. We're talking about the way 388 00:18:26,520 --> 00:18:29,840 Speaker 1: the world is changing as politics, technology, and finance collide 389 00:18:30,440 --> 00:18:34,200 Speaker 1: right before our very eyes. Um, we're witnessing one system 390 00:18:34,320 --> 00:18:37,439 Speaker 1: dying as another system is being born. The problem is 391 00:18:37,600 --> 00:18:40,320 Speaker 1: that when you're in one system, it's very difficult to 392 00:18:40,320 --> 00:18:42,320 Speaker 1: see the other system. It's like us seeing the forest 393 00:18:42,400 --> 00:18:44,560 Speaker 1: through the trees kind of a thing. And so that's 394 00:18:44,560 --> 00:18:46,280 Speaker 1: exactly what happens. And so that's why I'm trying to 395 00:18:46,400 --> 00:18:48,119 Speaker 1: narrate for you. I'm trying to guide you through this 396 00:18:48,119 --> 00:18:50,440 Speaker 1: step by step by step, because otherwise it's it's really 397 00:18:50,440 --> 00:18:52,040 Speaker 1: hard to pick up on the nuance. And like I 398 00:18:52,040 --> 00:18:55,720 Speaker 1: said before, Um, things are not black and white. It's 399 00:18:55,760 --> 00:18:59,240 Speaker 1: all everything has nuance, and it's understanding that nuance is 400 00:18:59,280 --> 00:19:02,440 Speaker 1: what gives you at edge. So you gotta understand this 401 00:19:02,440 --> 00:19:04,640 Speaker 1: this nuance here. Um. You know, one of the things 402 00:19:04,640 --> 00:19:07,679 Speaker 1: that I saw at the Bitcoin conference last week, all 403 00:19:07,720 --> 00:19:10,840 Speaker 1: these announcements of all this new technology that's that's uh 404 00:19:10,880 --> 00:19:13,240 Speaker 1: that's coming out and UH. I mentioned that one of 405 00:19:13,280 --> 00:19:16,879 Speaker 1: the big announcements was with Jack Maller's he's the CEO 406 00:19:16,920 --> 00:19:19,480 Speaker 1: of the founder of Strike and Strike as a payments 407 00:19:19,520 --> 00:19:22,639 Speaker 1: company that's built on Bitcoin Lightning. Lightning as a layer 408 00:19:22,640 --> 00:19:24,760 Speaker 1: to application that allows you to send bitcoin faster and 409 00:19:24,800 --> 00:19:28,280 Speaker 1: cheaper than any other cryptocurrency. UM, that's how UM El 410 00:19:28,320 --> 00:19:30,920 Speaker 1: Salvador is transferring bitcoin around. If you go down to 411 00:19:30,960 --> 00:19:32,960 Speaker 1: El Salvador, you can use bitcoin to buy you know, 412 00:19:32,960 --> 00:19:36,080 Speaker 1: Starbucks coffee or McDonald's hamburger, and when you pay for 413 00:19:36,119 --> 00:19:38,920 Speaker 1: it there, you're using UM, you're transferring bitcoin to them 414 00:19:39,000 --> 00:19:42,120 Speaker 1: over the Lightning network, which is this layer to application. 415 00:19:43,040 --> 00:19:44,520 Speaker 1: And UM. You know, I talked a lot about how 416 00:19:44,560 --> 00:19:47,000 Speaker 1: you look at the growth of a network through both 417 00:19:47,040 --> 00:19:49,560 Speaker 1: the users and the development on that and so we 418 00:19:49,600 --> 00:19:51,439 Speaker 1: want to chart those those couple of things. And if 419 00:19:51,480 --> 00:19:53,200 Speaker 1: we look at Bitcoin, like I said, with these layer 420 00:19:53,240 --> 00:19:55,520 Speaker 1: two scale and solutions, that the Lightning network is one 421 00:19:55,520 --> 00:19:59,040 Speaker 1: of them, and the the amount of payments that's being 422 00:19:59,119 --> 00:20:03,920 Speaker 1: done on that is growing at a blistering pace. UM. 423 00:20:04,080 --> 00:20:07,880 Speaker 1: On Thursday, CNBC told the story of Elena vora Biova, 424 00:20:08,119 --> 00:20:12,600 Speaker 1: a Ukrainian refugee who's been seeking sanctuary in Poland, and 425 00:20:12,640 --> 00:20:16,439 Speaker 1: how um she used lightning to transfer one hundred dollars 426 00:20:16,440 --> 00:20:19,439 Speaker 1: worth of bitcoin UM from Miami, where it was then 427 00:20:19,480 --> 00:20:22,200 Speaker 1: withdrawn from an A t M in the equivalent Polish currency, 428 00:20:22,960 --> 00:20:26,880 Speaker 1: all within the space of minutes. And it's uh. It's 429 00:20:27,000 --> 00:20:30,840 Speaker 1: these types of low low, very low cost but high 430 00:20:30,880 --> 00:20:34,520 Speaker 1: speed transactions that this layer to scaling on bitcoin is done. 431 00:20:34,920 --> 00:20:38,119 Speaker 1: And the growth the payments have grown by over four 432 00:20:38,240 --> 00:20:41,800 Speaker 1: hundred and ten percent in payment volume over the past year. 433 00:20:41,840 --> 00:20:45,240 Speaker 1: It's amazing. So it's imagine um is about the nineteen 434 00:20:45,280 --> 00:20:48,560 Speaker 1: forties and approximately when credit cards were first brought out. 435 00:20:48,600 --> 00:20:50,359 Speaker 1: First it was the Diners Club and then it was 436 00:20:50,400 --> 00:20:53,600 Speaker 1: the UM I believe it was Discover Card, which was 437 00:20:53,720 --> 00:20:57,200 Speaker 1: renamed from um I forget what it's called the Visa network, 438 00:20:57,280 --> 00:20:59,840 Speaker 1: but but it was all around the forties when that happened. 439 00:21:00,760 --> 00:21:04,840 Speaker 1: And imagine how fast that adoption of credit cards you know, started. 440 00:21:04,880 --> 00:21:07,320 Speaker 1: It was originally just this this diners club, so everybody 441 00:21:07,320 --> 00:21:09,320 Speaker 1: went to this restaurant and they create a credit card 442 00:21:09,359 --> 00:21:11,800 Speaker 1: for that. So like the amount of people using those 443 00:21:11,800 --> 00:21:14,200 Speaker 1: cards didn't grow super fast because there's just like a 444 00:21:14,200 --> 00:21:16,240 Speaker 1: little restaurant and then eventually, you know, like I said, 445 00:21:16,320 --> 00:21:19,040 Speaker 1: it grew faster. But here we have another payment network. 446 00:21:19,040 --> 00:21:21,000 Speaker 1: We're talking about the Lightning network on top of Bitcoin, 447 00:21:21,359 --> 00:21:24,600 Speaker 1: growing it over four hundred percent in the past year. 448 00:21:24,640 --> 00:21:28,000 Speaker 1: It's amazing. Uh. The number of payments that occurred on 449 00:21:28,000 --> 00:21:29,960 Speaker 1: the Lightning network in the past year doubled, while the 450 00:21:30,000 --> 00:21:34,520 Speaker 1: total value of those payments quadrupled, which is pretty mate, 451 00:21:34,520 --> 00:21:37,159 Speaker 1: which is pretty amazing, UM. And it just shows how 452 00:21:37,240 --> 00:21:40,520 Speaker 1: fast this is growing. Of course, this is really being 453 00:21:40,680 --> 00:21:43,840 Speaker 1: led by El Salvador's chiev a wallet um as well 454 00:21:43,880 --> 00:21:45,960 Speaker 1: as here in the United States, which is actually way 455 00:21:46,000 --> 00:21:49,920 Speaker 1: bigger um UM the payment application called cash app, which 456 00:21:49,960 --> 00:21:51,800 Speaker 1: I'm sure a lot of you are familiar with cash app. 457 00:21:52,880 --> 00:21:55,359 Speaker 1: And now that that's another big announcement from the Bitcoin 458 00:21:55,400 --> 00:21:57,800 Speaker 1: conference last week is they announced, um a bunch of 459 00:21:57,840 --> 00:22:02,000 Speaker 1: new Lightning integration inside of that. So now, um, you 460 00:22:02,000 --> 00:22:04,719 Speaker 1: could just download your cash app and you can transfer 461 00:22:04,760 --> 00:22:08,359 Speaker 1: bitcoin back and forth to each other, um instantaneously and free, 462 00:22:08,440 --> 00:22:12,440 Speaker 1: almost almost instantaneous and free. Pretty amazing to see that happening. 463 00:22:12,800 --> 00:22:15,840 Speaker 1: And while all that's happening on bitcoin ETHEREUM just continues 464 00:22:15,880 --> 00:22:19,520 Speaker 1: to have more and more problems. They've been anticipating to 465 00:22:19,640 --> 00:22:23,040 Speaker 1: make a switch to change their consensus mechanism, the way 466 00:22:23,080 --> 00:22:27,080 Speaker 1: that the network, the decentralized network achieves consensus or meaning 467 00:22:28,720 --> 00:22:31,399 Speaker 1: of the network agrees to make a change. And they 468 00:22:31,440 --> 00:22:34,240 Speaker 1: want to change this consensus from a proof of work, 469 00:22:34,880 --> 00:22:37,400 Speaker 1: which is what bitcoin has, which is where miners are 470 00:22:37,920 --> 00:22:40,200 Speaker 1: buying electricity on a daily basis to help secure and 471 00:22:40,240 --> 00:22:44,400 Speaker 1: process transactions, to what's called a proof of steak, meaning UM, 472 00:22:44,440 --> 00:22:46,680 Speaker 1: I don't have to spend money, whoever has the most 473 00:22:46,680 --> 00:22:49,520 Speaker 1: money gets the most votes. UM not for that system. 474 00:22:49,520 --> 00:22:52,240 Speaker 1: It sounds like the federal reserve system that we have today. UM. 475 00:22:52,240 --> 00:22:54,679 Speaker 1: With bitcoin doesn't matter how much bitcoin you own, you 476 00:22:54,680 --> 00:22:56,680 Speaker 1: don't have any more say over the network than anybody 477 00:22:56,680 --> 00:22:59,360 Speaker 1: else does. But with a proof of steak like ETHEREUM 478 00:22:59,359 --> 00:23:01,440 Speaker 1: wants to go to UM with the proof of stake, 479 00:23:01,440 --> 00:23:03,840 Speaker 1: whoever has the most tokens gets the most votes. And 480 00:23:03,920 --> 00:23:05,920 Speaker 1: so they're trying to they're trying to move. Now, another 481 00:23:05,920 --> 00:23:07,800 Speaker 1: big problem with that is that you know, we're trying 482 00:23:07,840 --> 00:23:11,320 Speaker 1: to build the entire global financial system on bitcoin. The 483 00:23:11,359 --> 00:23:13,560 Speaker 1: Internet is built on a protocol called t c P 484 00:23:13,800 --> 00:23:15,680 Speaker 1: I P It's the if you set up a router 485 00:23:15,680 --> 00:23:17,960 Speaker 1: at your house, you know what I P addresses and 486 00:23:18,000 --> 00:23:23,119 Speaker 1: so you have trillions of applications, Um, you know my 487 00:23:23,200 --> 00:23:26,800 Speaker 1: personal website, Facebook, Zoom, Netflix, etcetera, all built. Those are 488 00:23:26,800 --> 00:23:30,960 Speaker 1: all applications built on this tcp IP protocol, the trillons 489 00:23:31,000 --> 00:23:33,639 Speaker 1: of applications, trillions of dollars of value. If you change 490 00:23:33,680 --> 00:23:36,240 Speaker 1: that tcp IP protocol, it's not going to be good. 491 00:23:36,960 --> 00:23:39,960 Speaker 1: All those trends of applications could could could fail. And 492 00:23:40,119 --> 00:23:42,359 Speaker 1: so you can't go change bitcoin. You can't just go 493 00:23:42,520 --> 00:23:44,280 Speaker 1: change the network when you've had, you know, all this 494 00:23:44,359 --> 00:23:46,040 Speaker 1: built on top of it. And that's one of the 495 00:23:46,040 --> 00:23:50,119 Speaker 1: things about bitcoin, you you can't change it. However, with Ethereum, 496 00:23:50,359 --> 00:23:52,280 Speaker 1: they're trying to change it. So they want to be 497 00:23:52,400 --> 00:23:55,800 Speaker 1: the world's computer. Supposedly, that's their goal, be the world's computer. 498 00:23:55,880 --> 00:23:58,239 Speaker 1: They want to all these applications, all this defy, all 499 00:23:58,280 --> 00:24:00,320 Speaker 1: this stuff to be built on it. But then what 500 00:24:00,440 --> 00:24:03,200 Speaker 1: then they're just gonna go change the protocol. You can't 501 00:24:03,320 --> 00:24:05,600 Speaker 1: build the whole world's internet on top of a protocol 502 00:24:05,600 --> 00:24:08,480 Speaker 1: and then just change it, especially changed the consensus rules. 503 00:24:08,480 --> 00:24:11,560 Speaker 1: Are you kidding me? Well, Um, it's true. It's it's 504 00:24:11,600 --> 00:24:14,360 Speaker 1: proven to be a much harder task than they might 505 00:24:14,560 --> 00:24:16,800 Speaker 1: have you believe. And as a matter of fact, they 506 00:24:16,920 --> 00:24:19,040 Speaker 1: have continued to delay and delay it. And they just 507 00:24:19,119 --> 00:24:23,199 Speaker 1: came out and said, up, it's a delayed again. Surprise, surprise, UM. 508 00:24:23,280 --> 00:24:25,720 Speaker 1: And it's looking like that may not happen less and 509 00:24:25,800 --> 00:24:28,720 Speaker 1: less likely. They'll probably do it at some point, but man, 510 00:24:29,800 --> 00:24:34,040 Speaker 1: it could go wrong. A lot could go wrong. Now, UM. 511 00:24:34,760 --> 00:24:36,880 Speaker 1: Jumping to a little bit of a higher level, talking 512 00:24:36,880 --> 00:24:39,199 Speaker 1: about building the entire financial system on top of bitcoin, 513 00:24:41,080 --> 00:24:43,680 Speaker 1: we have a financial network. You have to think about 514 00:24:43,680 --> 00:24:46,000 Speaker 1: it like this. So they I mentioned like the credit 515 00:24:46,000 --> 00:24:49,200 Speaker 1: card network. The credit card network is built on top 516 00:24:49,240 --> 00:24:51,520 Speaker 1: of the US dollar financial network that we have. A 517 00:24:51,600 --> 00:24:53,359 Speaker 1: lot of people think of the dollar as like you 518 00:24:53,440 --> 00:24:55,679 Speaker 1: know the paper that you have in your wallet, um, 519 00:24:56,000 --> 00:24:58,040 Speaker 1: or you know the banking system we have. But really 520 00:24:58,160 --> 00:25:01,760 Speaker 1: what the dollar is is it's a financial network, and 521 00:25:01,800 --> 00:25:03,880 Speaker 1: it's a way to move money around the world really 522 00:25:03,920 --> 00:25:08,160 Speaker 1: really quickly. So for example, what's happening between Russia and Ukraine. 523 00:25:08,640 --> 00:25:13,600 Speaker 1: Russia was kicked out of the financial system, right, They're 524 00:25:13,680 --> 00:25:18,000 Speaker 1: kicked out of Swift. Swift is the network now, the 525 00:25:18,080 --> 00:25:21,560 Speaker 1: financial network that we have the Swift system, the dollar system. 526 00:25:21,760 --> 00:25:27,480 Speaker 1: It's old, it's from nineteen forties. How much has technology 527 00:25:27,680 --> 00:25:32,760 Speaker 1: changed since ninety How much this technology changed in the 528 00:25:32,880 --> 00:25:38,600 Speaker 1: last ten years. But I mean seriously since um. I mean, 529 00:25:38,720 --> 00:25:42,520 Speaker 1: for one, obviously there was no internet, right, Um, how 530 00:25:42,600 --> 00:25:45,080 Speaker 1: would you have sent a message to somebody in nineteen 531 00:25:45,160 --> 00:25:47,600 Speaker 1: forty Well, you had kind of two options. One you 532 00:25:47,680 --> 00:25:50,359 Speaker 1: had to put a physical letter in the mail, or 533 00:25:50,480 --> 00:25:52,639 Speaker 1: two and the male person would deliver it, you know, 534 00:25:52,720 --> 00:25:54,960 Speaker 1: over a week or whatever. Or I guess you could 535 00:25:54,960 --> 00:25:57,880 Speaker 1: send it to like a carrier pigeon. Right. I suppose 536 00:25:57,920 --> 00:25:59,680 Speaker 1: maybe there's a telegraph to that used like the phone, 537 00:25:59,760 --> 00:26:03,320 Speaker 1: the phone online. And obviously today we have message boards 538 00:26:03,359 --> 00:26:04,560 Speaker 1: and we have Twitter, and we have d m s 539 00:26:04,560 --> 00:26:07,520 Speaker 1: and we have zoom and radio like we're doing right now. 540 00:26:07,880 --> 00:26:10,720 Speaker 1: So we imagine the technology in Actually that's that's where 541 00:26:10,760 --> 00:26:13,000 Speaker 1: our financial network is built. Now. The thing with with 542 00:26:13,200 --> 00:26:16,560 Speaker 1: networks is also think about like the phone lines. Now, Um, 543 00:26:17,240 --> 00:26:19,840 Speaker 1: in the United States, we had phone, the phone line, 544 00:26:19,840 --> 00:26:21,879 Speaker 1: and you used to have like a phone in your house, right, 545 00:26:21,920 --> 00:26:23,800 Speaker 1: and it was wired to like a switchboard, and that 546 00:26:23,800 --> 00:26:26,879 Speaker 1: switchboard would connect you to the receiving end. Uh. If 547 00:26:26,920 --> 00:26:28,919 Speaker 1: you remember, like payphones used to have like a pay 548 00:26:28,960 --> 00:26:31,640 Speaker 1: phone that was like a wired phone, and all those 549 00:26:31,800 --> 00:26:34,080 Speaker 1: wired phones in your house, and payphones all went to 550 00:26:34,119 --> 00:26:35,800 Speaker 1: the phone lines that you see on the streets, and 551 00:26:35,840 --> 00:26:37,879 Speaker 1: they all go to these switchboards and it routes phones 552 00:26:38,400 --> 00:26:42,359 Speaker 1: calls all around the nation. But today we don't need 553 00:26:42,400 --> 00:26:45,000 Speaker 1: those anymore. I mean they're still there, but now we 554 00:26:45,160 --> 00:26:47,919 Speaker 1: use mobile phones, and mobile phones don't use all those wires. 555 00:26:48,320 --> 00:26:50,200 Speaker 1: They don't you need all those lines, right, it's it's 556 00:26:50,280 --> 00:26:55,320 Speaker 1: through the air. So we had this phone network and uh, 557 00:26:55,960 --> 00:26:59,200 Speaker 1: and then the Internet was able to grow because it grew, 558 00:26:59,560 --> 00:27:01,760 Speaker 1: it grew able to go really fast because it used 559 00:27:01,840 --> 00:27:04,280 Speaker 1: the existing phone network that was there. So if you 560 00:27:04,320 --> 00:27:06,320 Speaker 1: remember the oly days of the network, it went through 561 00:27:06,320 --> 00:27:09,320 Speaker 1: the phone lines, right, it went through your modem um. 562 00:27:09,480 --> 00:27:11,760 Speaker 1: Today we don't use that. Then they eventually put new 563 00:27:11,840 --> 00:27:14,000 Speaker 1: fibers in the ground, so then we use fiber optics lines, 564 00:27:14,040 --> 00:27:15,680 Speaker 1: but we're not the phone lines. And today now we 565 00:27:15,760 --> 00:27:17,480 Speaker 1: have five G going up, which is just all through 566 00:27:17,520 --> 00:27:21,120 Speaker 1: the air. But what happened is in emerging markets like Africa, 567 00:27:21,240 --> 00:27:26,040 Speaker 1: for example, they never had phone lines. They leap frogged, 568 00:27:26,320 --> 00:27:30,480 Speaker 1: they jumped past the need to have phone lines. Like 569 00:27:30,600 --> 00:27:33,639 Speaker 1: actual like poles with lines running through there, and they 570 00:27:33,720 --> 00:27:37,480 Speaker 1: just went straight to mobile phones. They went straight to 571 00:27:38,720 --> 00:27:41,840 Speaker 1: the air. They leap frogged it. And the reason why 572 00:27:41,880 --> 00:27:44,439 Speaker 1: that's important is because that holds the key to how 573 00:27:44,520 --> 00:27:46,040 Speaker 1: the financial system is going to change. I want to 574 00:27:46,040 --> 00:27:47,440 Speaker 1: tell you more about that in a second. You're listening 575 00:27:47,440 --> 00:27:49,760 Speaker 1: to the Markma Show. Do not go away if you 576 00:27:49,800 --> 00:27:51,600 Speaker 1: want to know what happens next. I'll be right back. 577 00:27:52,200 --> 00:27:54,280 Speaker 1: All right, welcome back. You're listening to the Markma Show. 578 00:27:54,320 --> 00:27:58,800 Speaker 1: We're talking about bitcoin and cryptocurrencies and the decentralized revolution. 579 00:27:58,880 --> 00:28:01,880 Speaker 1: We're talking about the way the politics, technology, and finance 580 00:28:01,920 --> 00:28:07,800 Speaker 1: are converging altogether in this cataclysmic events changing the world 581 00:28:07,920 --> 00:28:10,040 Speaker 1: right before our very eyes. And before the break, I 582 00:28:10,119 --> 00:28:13,159 Speaker 1: was explaining how the financial system is changing before our 583 00:28:13,200 --> 00:28:15,040 Speaker 1: very eyes. And most people aren't really paying attention to this, 584 00:28:15,119 --> 00:28:17,400 Speaker 1: and maybe they don't understand the gravity of exactly what's 585 00:28:17,400 --> 00:28:20,560 Speaker 1: going on, but I can tell you it is massive. 586 00:28:21,040 --> 00:28:24,240 Speaker 1: And so I was explaining how technology is often um, 587 00:28:24,600 --> 00:28:26,399 Speaker 1: how they reach adoption, and we're talking about how the 588 00:28:26,440 --> 00:28:28,639 Speaker 1: phone lines. We used to have phone lines all across 589 00:28:28,680 --> 00:28:30,560 Speaker 1: the country and then um here in the United States 590 00:28:30,640 --> 00:28:32,159 Speaker 1: and we put fibre optics in the ground and now 591 00:28:32,280 --> 00:28:34,320 Speaker 1: we're we have like five G towers and just goes 592 00:28:34,359 --> 00:28:37,000 Speaker 1: through the air. But other nations like Africa, they leap 593 00:28:37,080 --> 00:28:40,719 Speaker 1: frog dust. They never put phone lines up, they never 594 00:28:40,800 --> 00:28:45,400 Speaker 1: had phones. They just went straight into wireless phones. So 595 00:28:45,440 --> 00:28:47,320 Speaker 1: they leap frog dust. And the reason why this important 596 00:28:47,400 --> 00:28:49,720 Speaker 1: understand is back to the financial system. Like I said, 597 00:28:49,720 --> 00:28:53,320 Speaker 1: the dollar is actually just a financial network, and um, 598 00:28:53,520 --> 00:28:55,720 Speaker 1: it was built in the forties, about the same time 599 00:28:55,760 --> 00:28:58,960 Speaker 1: as the phone network was and it hasn't had any 600 00:28:59,040 --> 00:29:03,880 Speaker 1: upgrades since then, which is insane. Imagine if we didn't 601 00:29:03,920 --> 00:29:06,920 Speaker 1: have mobile phones or wireless phones or internet, imagine just 602 00:29:07,040 --> 00:29:10,280 Speaker 1: still using the same phone system that we had. Now, 603 00:29:10,400 --> 00:29:13,360 Speaker 1: my kids they see like a paid phone, they're like, 604 00:29:13,440 --> 00:29:15,040 Speaker 1: what the heck is that. They don't even know what 605 00:29:15,120 --> 00:29:19,360 Speaker 1: a payphone is. Um, but that's essentially what the financial 606 00:29:19,360 --> 00:29:22,440 Speaker 1: network is now. Um, the United States and you know, 607 00:29:22,520 --> 00:29:24,560 Speaker 1: most of the developed world is trying to upgrade the 608 00:29:24,600 --> 00:29:28,040 Speaker 1: financial system and they're talking about central bank digital currencies 609 00:29:28,160 --> 00:29:31,720 Speaker 1: and digital money and all these things, and so they're 610 00:29:31,760 --> 00:29:33,760 Speaker 1: trying to convert it sort of like the United States 611 00:29:33,920 --> 00:29:36,640 Speaker 1: upgraded their phone lines into like internet by using the 612 00:29:36,680 --> 00:29:41,360 Speaker 1: same lines. But just like how nations like Africa completely 613 00:29:41,520 --> 00:29:44,960 Speaker 1: skipped that transition by leap frogging over, that's exactly what's 614 00:29:45,000 --> 00:29:48,280 Speaker 1: happening with the financial system. So the financial system that 615 00:29:48,320 --> 00:29:50,240 Speaker 1: we have is crumbling right now, but there's another system 616 00:29:50,280 --> 00:29:52,120 Speaker 1: being built up that's that's not going to be a 617 00:29:52,160 --> 00:29:55,400 Speaker 1: continuation from this. It's going to be a completely new system, 618 00:29:55,880 --> 00:29:57,440 Speaker 1: and we can see it being killed in real time. 619 00:29:57,440 --> 00:29:59,600 Speaker 1: If you've been tuning in on a regular basis, then 620 00:29:59,640 --> 00:30:01,000 Speaker 1: you are, do you know? And if you haven't been, 621 00:30:01,040 --> 00:30:04,560 Speaker 1: then what are you even doing? So? Uh, if you're 622 00:30:04,560 --> 00:30:06,120 Speaker 1: not doing it on a regular basis, you should be, 623 00:30:06,160 --> 00:30:08,040 Speaker 1: So make sure to bookmark this channel this time the 624 00:30:08,080 --> 00:30:10,920 Speaker 1: station in tune with me and every week. But you know, 625 00:30:11,000 --> 00:30:13,920 Speaker 1: we see the finance system being assassinated, being killed right 626 00:30:13,960 --> 00:30:17,080 Speaker 1: before our very eyes. We see um in Canada for example, 627 00:30:17,240 --> 00:30:19,520 Speaker 1: right there, they're seizing people's bank accounts, are kicking them 628 00:30:19,560 --> 00:30:22,120 Speaker 1: out of the financial system. And when those people get 629 00:30:22,200 --> 00:30:24,720 Speaker 1: kicked out the financial system, they have to go figure 630 00:30:24,720 --> 00:30:27,720 Speaker 1: out another way to um survive in another financial system, 631 00:30:27,800 --> 00:30:31,640 Speaker 1: right um. And then of course then we had we 632 00:30:31,720 --> 00:30:35,360 Speaker 1: had Russia, right and Russia just got kicked out of 633 00:30:35,360 --> 00:30:37,920 Speaker 1: the financial system. They're one of the three global superpowers 634 00:30:37,960 --> 00:30:41,440 Speaker 1: with nuclear weapons. Doesn't matter, let's kick them out as well. 635 00:30:42,240 --> 00:30:45,640 Speaker 1: And it's forcing people to go set up a new 636 00:30:45,760 --> 00:30:49,040 Speaker 1: financial system. Now, when Russia got kicked out of the 637 00:30:49,080 --> 00:30:51,960 Speaker 1: financial system, you know, more dollars for you, right, like 638 00:30:52,360 --> 00:30:54,560 Speaker 1: like the soup Nazi on on Seinfeld if you're old 639 00:30:54,680 --> 00:30:57,719 Speaker 1: enough to get that joke. Um, they get kicked out 640 00:30:57,760 --> 00:30:59,040 Speaker 1: now they have to figure out another way. So they 641 00:30:59,120 --> 00:31:00,800 Speaker 1: got all their money, see East, they got all their 642 00:31:01,200 --> 00:31:03,880 Speaker 1: FX reserve seas. They can't use the financial network, they 643 00:31:03,920 --> 00:31:05,800 Speaker 1: can't use the phone lines anymore, they can't use the network, 644 00:31:06,000 --> 00:31:08,760 Speaker 1: so what are they gonna do? Well? Um, interesting enough, 645 00:31:08,960 --> 00:31:11,880 Speaker 1: money is only a medium of exchange. Money only allows 646 00:31:12,000 --> 00:31:16,440 Speaker 1: me to buy real things, goods and services. But what 647 00:31:16,640 --> 00:31:19,080 Speaker 1: is that the base of goods and services? It's energy. 648 00:31:19,400 --> 00:31:22,360 Speaker 1: Energy is the most important thing in the world. That's it. Energy. 649 00:31:22,560 --> 00:31:25,000 Speaker 1: Energy is the base of everything. And guess what. Russia 650 00:31:25,080 --> 00:31:29,000 Speaker 1: has lots of energy, natural gas and oil. And it 651 00:31:29,080 --> 00:31:34,040 Speaker 1: turns out the world needs those assets like badly as 652 00:31:34,040 --> 00:31:35,600 Speaker 1: a matter of fact, like we can't go without them. 653 00:31:36,280 --> 00:31:40,640 Speaker 1: And if Russia can't be using the dollar network, then 654 00:31:40,720 --> 00:31:43,920 Speaker 1: what are they gonna do? So then they said, Putin said, fine, 655 00:31:44,080 --> 00:31:47,280 Speaker 1: well buy my gas and buy my oil in my 656 00:31:47,680 --> 00:31:54,760 Speaker 1: currency and rubles. Um. So, so the you know, not 657 00:31:54,880 --> 00:31:58,280 Speaker 1: just the United States, but NATO, we'll call it. That 658 00:31:58,960 --> 00:32:02,000 Speaker 1: literally sees all of their money, all of Russia's money, 659 00:32:02,040 --> 00:32:04,720 Speaker 1: kicked him out of the financial system, took their str reserves, 660 00:32:06,520 --> 00:32:10,040 Speaker 1: stole their money. They have no choice. They say, well, 661 00:32:10,120 --> 00:32:12,240 Speaker 1: if you want my gas, then pay me in my currency. 662 00:32:12,680 --> 00:32:15,760 Speaker 1: And the EU warrens Putin's rubles for gas demand would 663 00:32:15,840 --> 00:32:20,960 Speaker 1: break sanctions. The Russian president said he could halt future 664 00:32:21,000 --> 00:32:26,440 Speaker 1: gas supplies, and Putin's decree would hand control to Russia. 665 00:32:26,640 --> 00:32:28,720 Speaker 1: So the European Union has Warren member states that President 666 00:32:28,800 --> 00:32:31,960 Speaker 1: Vladimir Putin's demand that unfriendly countries effectively pay for Russian 667 00:32:31,960 --> 00:32:35,200 Speaker 1: gas and rubles would violate sanctions imposed on Moscow fought 668 00:32:35,280 --> 00:32:38,840 Speaker 1: with invasion of Ukraine. And they're saying like, wait, wait, wait, wait, 669 00:32:38,840 --> 00:32:41,479 Speaker 1: you can't do that. The contract said that you were 670 00:32:41,520 --> 00:32:43,720 Speaker 1: going to be paid in dollars, and he's like, yeah, 671 00:32:43,800 --> 00:32:45,760 Speaker 1: but you guys kicked me out of the dollar system, 672 00:32:45,840 --> 00:32:48,600 Speaker 1: so I can't use it. So like that contract is 673 00:32:48,720 --> 00:32:52,160 Speaker 1: nolan void. And it's pretty amazing that they're trying to 674 00:32:53,360 --> 00:32:57,440 Speaker 1: hold him to an agreement that he can't follow because 675 00:32:57,560 --> 00:33:00,240 Speaker 1: they kicked him out of the system. Now, I'm not 676 00:33:00,360 --> 00:33:02,440 Speaker 1: here to be a champion of Russia by any means. 677 00:33:03,040 --> 00:33:05,520 Speaker 1: I'm here just to show you how the financial system 678 00:33:05,600 --> 00:33:09,080 Speaker 1: is failing right before our very eyes. It doesn't work. 679 00:33:09,320 --> 00:33:12,360 Speaker 1: They've weaponized the system against somebody. They've kicked them out 680 00:33:12,360 --> 00:33:14,960 Speaker 1: of the system. They desperately need the assets that that 681 00:33:15,080 --> 00:33:17,320 Speaker 1: person has, but then they don't want to pay them 682 00:33:17,320 --> 00:33:22,160 Speaker 1: in a different form of money. It's a pretty interesting 683 00:33:22,320 --> 00:33:24,360 Speaker 1: dilemma that they find themselves in. And like I said, 684 00:33:24,440 --> 00:33:28,120 Speaker 1: the world needs the gas and oil from Russia. We 685 00:33:28,160 --> 00:33:30,160 Speaker 1: can't just go without it. They produce about ten percent 686 00:33:30,280 --> 00:33:32,720 Speaker 1: of the world's oil. Imagine if we just reduced the 687 00:33:32,800 --> 00:33:37,280 Speaker 1: energy supplied by about ten It's not very good, is it. 688 00:33:38,160 --> 00:33:41,880 Speaker 1: And we can see this uh ratcheting up really really quickly. 689 00:33:42,680 --> 00:33:47,000 Speaker 1: Where um you know, people, you and I were put 690 00:33:47,080 --> 00:33:49,720 Speaker 1: on notice by watching what happened in Canada, Like, shoot, 691 00:33:49,840 --> 00:33:51,920 Speaker 1: our money in the bank isn't safe. They can take 692 00:33:51,960 --> 00:33:53,360 Speaker 1: our money and kick us out of the finances to 693 00:33:53,440 --> 00:33:56,680 Speaker 1: many time we want. And then all the nations around 694 00:33:56,720 --> 00:34:00,320 Speaker 1: the world were also put on a similar notice. Like, dang, 695 00:34:00,360 --> 00:34:02,959 Speaker 1: if they can seize and steal Russia's bank accounts when 696 00:34:03,000 --> 00:34:05,719 Speaker 1: they're one of three global superpowers and they have nuclear weapons, 697 00:34:06,960 --> 00:34:09,120 Speaker 1: Uh what what you? What? What chance do I have? 698 00:34:09,239 --> 00:34:12,840 Speaker 1: I from India or Germany or France or Indonesia or 699 00:34:13,080 --> 00:34:15,839 Speaker 1: Vietnam or fill in the blank. If it can happen 700 00:34:15,840 --> 00:34:19,239 Speaker 1: to Russia, it can happen to anyone, and so who 701 00:34:19,280 --> 00:34:22,640 Speaker 1: would want to keep their It's like I use the 702 00:34:22,680 --> 00:34:25,000 Speaker 1: phone lines and then A T n T kicked me 703 00:34:25,080 --> 00:34:27,239 Speaker 1: off and I can't use the phone anymore. And then 704 00:34:27,320 --> 00:34:29,040 Speaker 1: everyone's like, well, shoot, if they can kick Mark off 705 00:34:29,080 --> 00:34:31,080 Speaker 1: the phone lines, they kick anybody off the phone lines, right, 706 00:34:31,440 --> 00:34:33,000 Speaker 1: And so if they can kick Russia out of the 707 00:34:33,000 --> 00:34:35,200 Speaker 1: financis and they kick anybody out, so and not not 708 00:34:35,360 --> 00:34:37,880 Speaker 1: just not just kick out of the out of the network, 709 00:34:38,239 --> 00:34:43,160 Speaker 1: but steal their steal their money. So now we see 710 00:34:43,360 --> 00:34:48,760 Speaker 1: uh breaking. China's oil champion prepares Western retreat over sanctions fears. 711 00:34:49,080 --> 00:34:52,560 Speaker 1: C N O O C is preparing to exit Britain, 712 00:34:52,800 --> 00:34:58,720 Speaker 1: Canada and the US because Beijing is concerned overgrowing tension 713 00:34:58,800 --> 00:35:04,960 Speaker 1: with the West and all their oil um there are Oh, 714 00:35:05,040 --> 00:35:07,719 Speaker 1: they were delisted by the New York Stock exchange and 715 00:35:07,800 --> 00:35:10,840 Speaker 1: they're afraid it, says Um. He says they're preparing to 716 00:35:10,920 --> 00:35:13,040 Speaker 1: exit the operations in Britain, Canada, and the United States 717 00:35:13,080 --> 00:35:16,600 Speaker 1: because of concerns in Beijing the assets could become subject 718 00:35:16,960 --> 00:35:22,120 Speaker 1: to Western sanctions, meaning they're afraid that our money could 719 00:35:22,160 --> 00:35:24,799 Speaker 1: be stolen, and so we're not going to keep our 720 00:35:24,800 --> 00:35:26,759 Speaker 1: money in that system anymore. As a matter of fact, 721 00:35:26,840 --> 00:35:30,120 Speaker 1: We're going to go try and find a new system. Again. 722 00:35:30,200 --> 00:35:32,000 Speaker 1: I'm not trying to say China is right. I'm not. 723 00:35:32,120 --> 00:35:33,800 Speaker 1: I'm not a fan of China. You guys know that. 724 00:35:34,080 --> 00:35:35,759 Speaker 1: I'm not trying to say Russia's right. I'm not trying 725 00:35:35,760 --> 00:35:38,520 Speaker 1: to say anybody's right or wrong here. I'm just here 726 00:35:38,800 --> 00:35:41,560 Speaker 1: to narrate the switch to a new financial system. Now. 727 00:35:41,600 --> 00:35:45,280 Speaker 1: I am here to champion a new financial system, financial 728 00:35:45,280 --> 00:35:50,080 Speaker 1: system that nobody can control. You See, it doesn't matter 729 00:35:50,239 --> 00:35:52,480 Speaker 1: if the if the United States is wrong or right. 730 00:35:52,760 --> 00:35:57,040 Speaker 1: It's the fact that somebody can control that, because whether 731 00:35:57,160 --> 00:35:59,680 Speaker 1: you agree with that person or not, at some point 732 00:35:59,760 --> 00:36:02,200 Speaker 1: you'll probably be on the other side. So, for example, 733 00:36:02,760 --> 00:36:06,120 Speaker 1: India is in desperate need of energy and they've been DOCTO. 734 00:36:06,200 --> 00:36:09,239 Speaker 1: Russia and the US just warned them said what what wait, wait, 735 00:36:09,280 --> 00:36:11,759 Speaker 1: wait a minute, India, don't don't, don't do that. You 736 00:36:11,840 --> 00:36:14,320 Speaker 1: don't want to get on our bad side. And so 737 00:36:14,480 --> 00:36:16,359 Speaker 1: it's not about who's wrong or right, it's that it's 738 00:36:16,400 --> 00:36:18,680 Speaker 1: that no matter what, at some point, we're always going 739 00:36:18,719 --> 00:36:21,800 Speaker 1: to be on somebody else's bad side, and nobody should 740 00:36:21,880 --> 00:36:25,759 Speaker 1: have that power. And back to how Africa usurped um 741 00:36:25,840 --> 00:36:28,160 Speaker 1: the traditional phone lines and just went straight to wireless, 742 00:36:28,400 --> 00:36:30,719 Speaker 1: that's exactly what's happening. The financial system that we have 743 00:36:30,719 --> 00:36:34,680 Speaker 1: today was built in the it's old, it's archaic. There's 744 00:36:34,680 --> 00:36:37,439 Speaker 1: a new financial system ready to go. And what we're 745 00:36:37,480 --> 00:36:41,520 Speaker 1: seeing is that this is speeding the inevitable switch and 746 00:36:41,640 --> 00:36:44,160 Speaker 1: the shift over to that, and there's gonna be nations 747 00:36:44,200 --> 00:36:47,200 Speaker 1: that are leap frogging. They never had the dollar system 748 00:36:47,239 --> 00:36:49,839 Speaker 1: set up, they never used the dollar network, the old 749 00:36:49,880 --> 00:36:52,920 Speaker 1: phone lines, if you will, and they're already using the 750 00:36:53,080 --> 00:36:56,800 Speaker 1: new payment system, which is bitcoin, bitcoin rails. That's what 751 00:36:56,880 --> 00:37:00,040 Speaker 1: we're seeing. And so that is exactly what's happened. And 752 00:37:00,120 --> 00:37:02,480 Speaker 1: they're pushing people into a system that nobody can control. 753 00:37:02,520 --> 00:37:04,880 Speaker 1: It's not about having better people control, it's about having 754 00:37:05,560 --> 00:37:08,080 Speaker 1: nobody can control. And that's exactly what bitcoin is. It's open, 755 00:37:08,120 --> 00:37:11,319 Speaker 1: it's borderless, it's permission list. Nobody needs permission to use 756 00:37:11,360 --> 00:37:13,319 Speaker 1: it or join it. Nobody can control it or kick 757 00:37:13,400 --> 00:37:15,080 Speaker 1: me out of it. You've been listening to the Mark 758 00:37:15,160 --> 00:37:18,600 Speaker 1: Moa show talking about bitcoin and cryptocurrency is the decentralized Revolution. 759 00:37:19,040 --> 00:37:20,600 Speaker 1: That's what I got for you today. Thanks for listening.