WEBVTT - The Mark Moss Show Oct 29, 2021 0:00:00.000 --> 0:00:02.639 Hey, everyone, welcome to another episode of The Mark Moss Show, 0:00:02.920 --> 0:00:05.520 where we are bringing to you the latest information on Bitcoin, 0:00:05.680 --> 0:00:10.240 on cryptocurrencies, and the decentralized revolution. Now, each and every 0:00:10.280 --> 0:00:12.800 week I join you and I tell you that this 0:00:12.880 --> 0:00:15.560 is literally the biggest opportunity that you'll ever see in 0:00:15.560 --> 0:00:18.000 your life. Not just your life. I'm talking about multiple 0:00:18.000 --> 0:00:21.800 generations of lifetime. It's the largest wealth transfer will ever 0:00:21.920 --> 0:00:25.919 see in history. Now, it's something that I say every week, 0:00:25.920 --> 0:00:27.440 and so if you've been tuning each and every week, 0:00:27.440 --> 0:00:29.760 then you've heard this before. And if you haven't been 0:00:29.760 --> 0:00:31.920 tuning each and every week, then pull out your phone 0:00:32.000 --> 0:00:34.520 right now, put a calendar reminder on for this channel, 0:00:34.640 --> 0:00:36.239 this station at this time, and make sure you come 0:00:36.280 --> 0:00:39.440 back with me every week, because I am trying to 0:00:39.479 --> 0:00:42.400 bring to you something known as asymmetric information. Now, this 0:00:42.479 --> 0:00:44.840 is the largest asymmetric return we'll ever see in our lifetime, 0:00:44.880 --> 0:00:47.040 which means we have way more upside than we have downside. 0:00:47.240 --> 0:00:50.400 And the way that you participate in asymmetric information or 0:00:50.440 --> 0:00:52.879 take advantage of it, I'm sorry, asymmetric upside is by 0:00:52.920 --> 0:00:57.640 having asymmetric information, you have to know something that most 0:00:57.640 --> 0:00:59.240 people don't know, which is what I'm trying to bring 0:00:59.280 --> 0:01:01.600 to each and every week. Now for this section, I'm 0:01:01.640 --> 0:01:03.360 joined by two of my really good friends. I got 0:01:03.440 --> 0:01:05.800 Matt him and his and I have Jessica Vaughan in 0:01:06.080 --> 0:01:08.200 on the group right now. So thanks so much for 0:01:08.240 --> 0:01:13.240 joining me, guys, well, thank you for having us more. Yeah, 0:01:13.319 --> 0:01:16.400 you know, uh, we've we've all spent quite a bit 0:01:16.440 --> 0:01:19.640 of time sitting around, uh talking about these kinds of subjects. 0:01:19.640 --> 0:01:21.200 So I love just to kind of get in and 0:01:21.319 --> 0:01:22.680 uh and talk about him. So I want to talk 0:01:22.680 --> 0:01:24.720 about a couple of things specifically, I want to start 0:01:24.760 --> 0:01:28.880 with what I said, right, and asymmetric upside comes from 0:01:28.959 --> 0:01:31.080 a symmetric information. By the way, if you're pulling out 0:01:31.080 --> 0:01:34.000 your phone and you are um putting a kind of 0:01:34.040 --> 0:01:36.240 reminder on for the show, make sure to follow the 0:01:36.240 --> 0:01:39.200 lovely Jessica Vaughan on Twitter at Jessica Vaughan. And you 0:01:39.240 --> 0:01:43.200 can follow Matt at m j A Y profits m 0:01:43.240 --> 0:01:45.320 j A Y Prophets. And of course I'm one Mark 0:01:45.440 --> 0:01:47.840 moss Um. But you know, there's this article that came 0:01:47.880 --> 0:01:51.040 out and it was on Bloomberg and it was talking 0:01:51.080 --> 0:01:54.400 about Peter Deal. Now, Peter Deal is uh probably the 0:01:54.440 --> 0:01:58.600 most well known billionaire venture capitalist, tech investor in the world, 0:01:58.960 --> 0:02:01.920 and he was at this meeting on Wednesday and he said, 0:02:02.560 --> 0:02:05.640 he said, uh, he's he's famous for being early into bitcoin, 0:02:05.720 --> 0:02:10.120 and he said, I'm under invested in bitcoin. And then 0:02:10.160 --> 0:02:15.800 he said, um, my hesitation about investing was that I thought, quote, 0:02:15.919 --> 0:02:21.440 the secret was already known by everybody, adding maybe it's 0:02:21.520 --> 0:02:24.000 still enough of a secret. So he's basically saying the 0:02:24.040 --> 0:02:26.919 same thing, right. He he he thought everybody knew there 0:02:26.919 --> 0:02:30.000 was no asymmetric information, but he's basically saying, no, it's not. 0:02:30.160 --> 0:02:33.160 Maybe maybe maybe it's still enough of a secret, and 0:02:33.200 --> 0:02:36.040 so there's still asymmetric information. Most people don't know. Is that? 0:02:36.120 --> 0:02:38.679 Is that the experience you guys have seen. To me, 0:02:38.840 --> 0:02:41.680 that's been more than the experience. I feel like everybody 0:02:41.760 --> 0:02:44.840 is so skeptical, skeptical about getting instocriptos because they think 0:02:44.840 --> 0:02:47.000 it's so late, because they look at the price, but 0:02:47.040 --> 0:02:48.960 they don't really like zoom out and see what it's 0:02:49.000 --> 0:02:54.640 actually solving and where it's being implemented in causing seamless 0:02:54.680 --> 0:02:58.360 transactions and opportunity and inclusiveness for the rest of the 0:02:58.360 --> 0:03:01.399 world into the financial system. I think that people think 0:03:01.400 --> 0:03:03.440 it's too late, but they're just looking at the price 0:03:03.560 --> 0:03:06.840 rather than the fundamentals. Also, half the educators UM that 0:03:06.919 --> 0:03:10.799 are telling people about the broken monetary system are pushing 0:03:10.800 --> 0:03:14.040 them towards precious metals, which is obviously safe, but it's 0:03:14.080 --> 0:03:18.520 not going to give them UM the opportunity to make 0:03:18.560 --> 0:03:21.000 the huge gains that we are in bitcoin. So that's 0:03:21.040 --> 0:03:23.800 one thing that's happening UM. And then of course the 0:03:23.919 --> 0:03:25.880 unit bias. Like one of my friends wrote me this 0:03:25.919 --> 0:03:28.320 morning that I've been urging for a year to buy 0:03:28.320 --> 0:03:31.840 bitcoin UM and he was like, well, ETHEREUMS, I can 0:03:31.919 --> 0:03:33.880 best blah blah blah, all the stuff about you know, 0:03:33.919 --> 0:03:36.600 the potentiality of the games that you can have there, 0:03:36.760 --> 0:03:40.200 and it's just unit bias at work. So UM. I 0:03:40.200 --> 0:03:42.360 think those are the two biggest things as far as 0:03:42.400 --> 0:03:46.840 why UM bitcoin and and bitcoin is not as intuitive 0:03:47.000 --> 0:03:50.240 as UM it is for us that have to UM 0:03:51.160 --> 0:03:53.400 UM think about bitcoin as often as we do because 0:03:53.480 --> 0:03:56.080 of of UM what we do as far as speaking 0:03:56.080 --> 0:03:59.280 with the public UM, and so maybe we just need 0:03:59.280 --> 0:04:01.600 to spend more time going back and talking about unit 0:04:01.640 --> 0:04:04.200 bias and and and what the value of a cetoceans 0:04:04.200 --> 0:04:06.440 don't you want an asset with a higher value potential 0:04:06.640 --> 0:04:08.440 to own less of it, that that's still better than 0:04:08.480 --> 0:04:12.839 owning a secondary type of asset that doesn't have that potential. Yeah, 0:04:12.920 --> 0:04:14.960 I mean that's that's that's definitely a great point. I think. 0:04:16.000 --> 0:04:18.200 I think, you know, there's there's two sides of it. 0:04:18.279 --> 0:04:20.680 So one, he said, it's still enough of a secret. 0:04:20.720 --> 0:04:22.800 So he thought more people kind of knew about it, 0:04:22.880 --> 0:04:25.080 and so he was shocked that not as many people 0:04:25.120 --> 0:04:26.920 know about it. I know, like I have been saying 0:04:26.960 --> 0:04:29.120 on this show, this, this, this, this last couple episodes, 0:04:29.160 --> 0:04:31.560 like if you went to the mall um and you 0:04:31.600 --> 0:04:34.080 asked a hundred people if they own bitcoin, Like what 0:04:34.120 --> 0:04:36.880 do you think the percentage of people would actually even 0:04:36.920 --> 0:04:38.680 know what you're talking about? I'd say a lot of 0:04:38.680 --> 0:04:41.680 people actually know the name, but have no idea about it, 0:04:41.720 --> 0:04:43.719 because like when I do bring it up, you know, 0:04:43.839 --> 0:04:47.599 to random people are just friends that aren't into financial markets, 0:04:47.640 --> 0:04:49.200 they look at me like, oh, yeah, I've heard of it? 0:04:49.240 --> 0:04:52.360 What is that? That that Internet money or that Ponzi scheme? 0:04:52.400 --> 0:04:54.719 They still don't have a grasp on actually what it 0:04:54.920 --> 0:04:57.640 is and what it's solving. So people are still skeptical. 0:04:57.920 --> 0:04:59.440 And back to what he was saying like, if he 0:04:59.520 --> 0:05:02.159 thinks it's late, waiting is only gonna make it later. 0:05:02.680 --> 0:05:04.760 And you can't judge it on price thinking that it's 0:05:04.800 --> 0:05:08.479 too late because the problems it's solving its quadruple the 0:05:08.520 --> 0:05:11.839 price of what it would be once those problems are solved, 0:05:11.880 --> 0:05:15.240 you know. Well, and for me, I always push bitcoin 0:05:15.400 --> 0:05:21.080 as um a philosophical dive into how to protect individual 0:05:21.120 --> 0:05:24.640 freedoms as they're becoming more and more attacked these days. Uh. 0:05:24.680 --> 0:05:28.520 And so I go philosophically with bitcoin, not just you know, 0:05:28.640 --> 0:05:30.800 number go up. Number go up is great. It signals 0:05:30.839 --> 0:05:33.279 all this confidence and it lets me know that um, 0:05:33.320 --> 0:05:37.440 it's it's getting more and more adoption. Um. But but 0:05:37.560 --> 0:05:39.760 sure people are gonna feel like if you go just 0:05:39.839 --> 0:05:42.480 off of monetary value alone, of course, people are gonna 0:05:42.480 --> 0:05:44.520 feel like they missed a boat because it's so expensive. 0:05:44.720 --> 0:05:46.919 I was happy to buy it high because I wanted 0:05:46.960 --> 0:05:51.000 to join a financial revolution to give people their sovereignty back. Mmm. 0:05:51.120 --> 0:05:52.920 I love I love that part, Jess, And I think 0:05:52.960 --> 0:05:55.200 that's that's actually a really key point. Let's dig into 0:05:55.240 --> 0:05:57.480 that for a minute, because I think to the point 0:05:57.480 --> 0:06:01.000 you just made there was like philosophically and my whole 0:06:01.040 --> 0:06:04.159 message has always been like why why bitcoin? And so 0:06:04.200 --> 0:06:06.320 if you're just focusing on the price, oh, it's too high, 0:06:06.480 --> 0:06:09.080 But if you don't understand why, like what's the driver 0:06:09.279 --> 0:06:12.080 behind that? Right? So he went on to say, and 0:06:12.360 --> 0:06:14.919 let me go back and read him. He says, cryptocurrencies 0:06:15.080 --> 0:06:19.040 rise was a rebuke of the world's financial system. So 0:06:19.080 --> 0:06:22.160 the financial system is in such disarray, printing trillions of dollars, 0:06:22.320 --> 0:06:24.680 and bitcoin is rebuking that. And then you wanted to say, 0:06:25.279 --> 0:06:28.520 it surely tells us that we're at a complete bankruptcy 0:06:28.839 --> 0:06:32.600 moment for central banks. And so, uh, philosophically, I mean, 0:06:32.600 --> 0:06:34.839 I guess that's a little bit more fundamentally on the 0:06:34.839 --> 0:06:38.520 banking system. But um, it's like that's why bitcoin, like 0:06:38.560 --> 0:06:42.320 the price of bitcoin exponentially because the dollar could basically 0:06:42.440 --> 0:06:44.960 fall to zero. What do you what do you think 0:06:45.000 --> 0:06:47.640 about bitcoin while all of cryptocurrency? What do you think 0:06:47.680 --> 0:06:52.440 about cryptocurrency? Um hiding the true number of inflation because 0:06:52.480 --> 0:06:58.279 it's taking US dollars out of um, you know, measurable variants. Yeah, 0:06:58.320 --> 0:07:00.919 like out of indicators like like the consumer price index 0:07:01.000 --> 0:07:03.120 or something like that. Well, you know, the more you 0:07:03.200 --> 0:07:05.719 dilute the supply of money. We've of course been you know, 0:07:05.760 --> 0:07:08.200 with our stimulus checks, when we bought bitcoin, this type 0:07:08.200 --> 0:07:10.720 of thing. Um. But we're pulling it out of assets 0:07:10.800 --> 0:07:14.560 in into traditional finance and putting it into crypto. So 0:07:14.960 --> 0:07:17.760 that's interesting when you think about a lot of the 0:07:17.800 --> 0:07:20.760 money being a lot of the extraneous money that's been 0:07:20.760 --> 0:07:23.800 printed in the last two years that's caused the inflation. 0:07:23.800 --> 0:07:25.960 I mean, the inflation is a desired effect. I mean, 0:07:26.000 --> 0:07:28.840 they wouldn't have done these policies. They understand. It's not 0:07:28.880 --> 0:07:33.600 like they don't understand what printing money historically, does they know? Yeah, 0:07:34.120 --> 0:07:36.960 it seems intentional to me. Yeah, yeah, he said. He 0:07:36.960 --> 0:07:39.360 said it tells us that we're to complete bankruptcy moment, 0:07:39.400 --> 0:07:41.360 which I thought was interesting because I would look at 0:07:41.400 --> 0:07:43.440 and go, we'll shoot in nineteen seventy one when we 0:07:43.480 --> 0:07:45.840 defaulted on our on our debts and we severed the 0:07:45.840 --> 0:07:47.920 gold standard. That was when we when we when we 0:07:47.960 --> 0:07:51.720 went bankrupt. Um. But I think I think that pieces 0:07:51.920 --> 0:07:54.320 is important. Um. And then back to kind of just 0:07:54.480 --> 0:07:58.480 what you're saying about the philosophy side. The philosophical side, 0:07:58.760 --> 0:08:03.400 he said that crypto was libertarian because it's a force 0:08:03.480 --> 0:08:08.880 for decentralization, and that by extension AI, especially sort of 0:08:08.920 --> 0:08:12.640 low tech surveillance form is essentially communist because it's a 0:08:12.680 --> 0:08:20.960 force for centralization. So much truth. Yeah, like like what 0:08:21.360 --> 0:08:22.560 like what what do you what do you see there? 0:08:22.600 --> 0:08:24.560 I mean and I think, I think really like that's 0:08:24.640 --> 0:08:29.160 the bigger piece, right, So it's like, okay, number go up, cool, whatever, Okay, 0:08:29.160 --> 0:08:31.760 I guess you know, the financial recepts cracking apart, whatever, 0:08:31.960 --> 0:08:34.880 But there's something like way bigger going on here. We're 0:08:34.920 --> 0:08:38.160 talking about philosophically, we're talking about like the way the 0:08:38.200 --> 0:08:42.280 world works and the way that we interact. Um, we're 0:08:42.320 --> 0:08:44.080 gonna have to take a break here, but when I 0:08:44.120 --> 0:08:46.600 come back, I want to Jess. We'll lead with her. 0:08:46.640 --> 0:08:49.440 We'll talk about that philosophically, kind of the difference between 0:08:49.480 --> 0:08:54.040 the centralization, the decentralization, the libertarian versus the communist, the 0:08:54.080 --> 0:08:58.280 differences of technology. And what's interesting is just how technology 0:08:58.320 --> 0:09:00.679 can really foster or build the found dation to have 0:09:00.840 --> 0:09:03.960 those philosophical differences. Uh. And again we're bringing you the 0:09:03.960 --> 0:09:06.920 information you need to know to have this asymmetric information 0:09:06.960 --> 0:09:11.199 to take advantage of the asymmetric upside that's available. Don't 0:09:11.240 --> 0:09:15.040 be like Peter Deal, don't be under invested because you 0:09:15.120 --> 0:09:17.679 don't have the right information. If someone like him can 0:09:17.760 --> 0:09:20.079 have the wrong information, you can too. Of course, you 0:09:20.160 --> 0:09:21.680 listen to the Mark mos Show A Mom with Matt 0:09:21.760 --> 0:09:25.720 him Andez and Jessica Van. We're here each end. Every week. 0:09:26.160 --> 0:09:29.960 We're gonna be right back talking about bitcoin the foundations 0:09:30.040 --> 0:09:33.280 of the philosophy. So we'll be right back. Hey everyone, 0:09:33.320 --> 0:09:35.680 welcome back to the Mark Moa Show where we're talking 0:09:35.679 --> 0:09:39.960 about bitcoin, cryptocurrencies, the decentralized revolution. Literally, I am bringing 0:09:40.000 --> 0:09:43.320 you the information that most people don't know, the asymmetric information, 0:09:43.640 --> 0:09:46.280 so you have the asymmetric upside. We're talking about before 0:09:46.280 --> 0:09:48.640 the break, talking about Peter Thiel, one of the best 0:09:48.640 --> 0:09:51.319 well known venture capital investors tech investors at a Silicon 0:09:51.400 --> 0:09:53.480 valley and he was talking about how he says he 0:09:53.600 --> 0:09:57.000 was under invested into bitcoin because he thought, um, the 0:09:57.040 --> 0:09:59.440 secret was already known by everybody, but actually it wasn't 0:09:59.800 --> 0:10:02.280 a known enough And then he went on to say 0:10:02.440 --> 0:10:04.960 the reasons why, and this is what's important. I think 0:10:04.960 --> 0:10:07.240 the why not the number go up. But he said 0:10:07.280 --> 0:10:10.839 that crypto is libertarian because it's a force for decentralization 0:10:11.679 --> 0:10:16.520 and by that extension AI is especially low tech low 0:10:16.559 --> 0:10:19.800 tech surveillance form is essentially communist because it's a force 0:10:20.200 --> 0:10:23.600 for centralization. Those are on opposite end of the spectrum, 0:10:23.600 --> 0:10:26.000 two different sides of tech. What do you think about that, 0:10:26.080 --> 0:10:30.400 jess um Well, I I make this argument a lot 0:10:30.480 --> 0:10:34.640 that people people's criticism of bitcoin, they'll be really concerned 0:10:34.800 --> 0:10:38.280 that it's to push us towards a cashalist society. And 0:10:38.320 --> 0:10:40.480 what I have to say is that they're working on 0:10:40.520 --> 0:10:43.400 a fed coin anyway, we're working towards a cassualist society. 0:10:43.440 --> 0:10:45.959 I'm very pro cash because I like the privacy that 0:10:46.040 --> 0:10:49.120 it offers, but because they're doing it, because that's the 0:10:49.120 --> 0:10:51.880 intent that they're enacting. Now you know they can go 0:10:52.000 --> 0:10:55.000 the whole COVID make is exchanging money is very dirty, 0:10:55.400 --> 0:10:58.600 it's you know cash, Their people hide their wealth through 0:10:58.640 --> 0:11:00.839 cash and and all these sayings. Of course, you know 0:11:00.920 --> 0:11:04.480 the bank accounts with the activity of six hundred dollars. 0:11:04.480 --> 0:11:06.360 You know that they think that now they should be 0:11:06.400 --> 0:11:08.240 able to have access to that without a warrant, which 0:11:08.280 --> 0:11:11.440 I don't agree with. Bitcoin is an opportunity to have 0:11:11.559 --> 0:11:17.400 a stable, uh solid money monetary system that's an alternative 0:11:17.400 --> 0:11:21.400 to the centralized finance system. Um that government is offering. 0:11:21.800 --> 0:11:25.920 So it's it's such an opportunity to retain your freedom 0:11:26.000 --> 0:11:30.360 that they're coming to collect from you, and um, that's 0:11:30.360 --> 0:11:34.840 why it's very libertarian in my idea. Yeah, I agree. 0:11:34.920 --> 0:11:37.200 I mean, I think the more push that they give 0:11:37.280 --> 0:11:39.880 on this will give more of a highlight to bitcoin. 0:11:39.960 --> 0:11:43.280 It'll show here in America because we're so privileged that 0:11:43.760 --> 0:11:46.480 we actually need this. You know, they're they're stepping a 0:11:46.480 --> 0:11:49.160 little bit too far into our bank accounts, too far 0:11:49.240 --> 0:11:52.800 into our information, and I think that's gonna give people 0:11:53.280 --> 0:11:55.720 a push and urge to be like, Okay, wait, this 0:11:55.760 --> 0:12:00.160 doesn't seem right. Because my generation grows up with this, say, 0:12:00.160 --> 0:12:02.959 as the norm, and now when it steps out of 0:12:02.960 --> 0:12:05.000 the norm and it's a little bit more pressed upon them, 0:12:05.200 --> 0:12:07.560 I think they're gonna look for alternatives, and the only 0:12:08.520 --> 0:12:12.920 feasible or reasonable option would be Bitcoin. I mean, they 0:12:12.920 --> 0:12:15.880 could see the glamorous all coins, but what's been around 0:12:15.920 --> 0:12:19.840 the longest, what shows the best track. It's Bitcoin. Yeah. 0:12:19.920 --> 0:12:22.840 What what I think of is like, I know, you 0:12:22.880 --> 0:12:24.840 know I've said you guys have probably heard me say 0:12:24.880 --> 0:12:26.640 many times. I don't I don't like these labels, right, 0:12:26.679 --> 0:12:29.920 I don't like socialism and fascism and communism and capitalism 0:12:29.920 --> 0:12:32.640 and all those different things. And I think the definitions 0:12:32.679 --> 0:12:36.040 get too messed up. And so um, fascism is right 0:12:36.160 --> 0:12:39.360 supposedly and socialism is left. And I don't know what 0:12:39.440 --> 0:12:40.840 I like to do. Is I like to look at 0:12:40.920 --> 0:12:44.520 we have individualism on one side and collectivism on the other, 0:12:44.880 --> 0:12:46.840 And so I would put fascism and socialism both on 0:12:46.880 --> 0:12:48.960 the collectivism side. And so when I think about that 0:12:49.040 --> 0:12:53.679 quote what he said there, um individualism versus collectivism. UM, 0:12:53.720 --> 0:12:56.960 Crypto is decentralized, right. We can each custody our own 0:12:57.160 --> 0:13:00.720 cut assets, right, we control it. It's not centralized, nobody 0:13:00.800 --> 0:13:05.320 collectively controlled it. It's decentralized, individually controlled um. And so 0:13:05.360 --> 0:13:08.240 I think of that individualism and then the opposite being 0:13:08.280 --> 0:13:12.720 that AI tech, the centralized AI tech, especially the Survellans 0:13:12.760 --> 0:13:15.800 form is controlled centrally, right. So it's like on Facebook, 0:13:16.080 --> 0:13:19.360 so the Facebook servers essentially controlled. That's that's collective, is um. 0:13:19.520 --> 0:13:22.200 And of course then that's shared and manipulated by the 0:13:22.240 --> 0:13:24.000 governments and things like that. So I guess that's kind 0:13:24.000 --> 0:13:26.920 of what I was thinking philosophy wise. I think his 0:13:27.280 --> 0:13:30.920 disclosure that he was under invested in bitcoin was more 0:13:31.120 --> 0:13:35.240 just um an exclamation about his confidence in bitcoin. I 0:13:35.240 --> 0:13:37.360 wouldn't think that he's you know, because we all feel 0:13:37.360 --> 0:13:39.320 that way. Once you understand bitcoin, You're like, oh, do 0:13:39.360 --> 0:13:41.880 I liquidate my house to have this asthlete? You know, 0:13:42.520 --> 0:13:45.120 like they call it so volatile, but I mean a 0:13:45.120 --> 0:13:48.559 deflationary currency can do nothing but go up anyways, people 0:13:48.600 --> 0:13:53.160 lose their keys, and um, there's just no way bitcoin 0:13:53.200 --> 0:13:56.040 can do anything except increase in value. So why would 0:13:56.080 --> 0:13:58.880 we not want it? Yeah? Well, the thing the thing 0:13:58.920 --> 0:14:01.240 with what he said was every time, every time you 0:14:01.240 --> 0:14:03.240 get into a good investment and it goes up in value, 0:14:03.320 --> 0:14:05.840 you're you're like, you feel like you're underinvested. But if 0:14:05.840 --> 0:14:08.319 you if you invest in something and it goes down, um, 0:14:08.520 --> 0:14:10.880 then you wish you didn't invest so much. I mean 0:14:11.200 --> 0:14:13.440 a real good example earlier this year, I got into 0:14:13.480 --> 0:14:17.400 this early round company that they make it's like a 0:14:17.440 --> 0:14:20.160 meal bay, a plant based like meal delivery service. And 0:14:20.200 --> 0:14:22.640 I got in on the first round venture round. And 0:14:23.440 --> 0:14:24.960 my friend that I went on to deal with, he 0:14:25.000 --> 0:14:28.440 put in like six dollars. I put in much less 0:14:28.440 --> 0:14:30.400 than that, um, and I think we got in like 0:14:30.440 --> 0:14:32.520 thirty cents, and within like a month or two it's 0:14:32.520 --> 0:14:35.400 shot up to like two bucks, and I was like, 0:14:35.480 --> 0:14:37.640 oh my gosh, like why didn't I put that same 0:14:37.640 --> 0:14:39.360 amount of money and that he did, Like I can't 0:14:39.360 --> 0:14:41.880 believe it, right, Like I could have crushed it on 0:14:41.920 --> 0:14:43.960 that and like now it's all the way down to 0:14:43.960 --> 0:14:47.160 like thirty cents, and I'm like, dang, I'm so glad 0:14:47.720 --> 0:14:51.000 I didn't put how much money and as he did. Right. 0:14:51.280 --> 0:14:55.480 Isn't it funny how we uh say things for the 0:14:55.520 --> 0:14:59.400 convenience of our own psyche, Like, for instance, bitcoin, if 0:14:59.680 --> 0:15:02.520 it goes up exponentially, you're like, damg, I didn't invest enough. 0:15:02.560 --> 0:15:04.520 But if it went down, you're like, oh, I knew, 0:15:04.560 --> 0:15:06.360 I knew a good thing. I didn't invest that much. 0:15:06.600 --> 0:15:10.040 And we always give the narrative to like justify what 0:15:10.080 --> 0:15:14.400 we did, and that applies to everything actually, So yeah, 0:15:14.480 --> 0:15:16.240 so I think I think that's important. The other thing 0:15:16.320 --> 0:15:18.080 that I would say is just just zoom out and 0:15:18.160 --> 0:15:20.080 let's not be so so caught up on that short 0:15:20.160 --> 0:15:27.120 term price. UM. I love that UM people want bitcoin, 0:15:27.200 --> 0:15:32.400 these um institutional investors, they are going to buy bitcoin 0:15:32.680 --> 0:15:37.120 and give it this uh, this stable backbone and signal 0:15:37.120 --> 0:15:40.520 all this confidence to the rest of us. UM. But 0:15:40.680 --> 0:15:44.760 really what they're doing is backing of freedom technology and 0:15:44.760 --> 0:15:46.520 they don't even care they're doing that because they just 0:15:46.560 --> 0:15:49.600 care about their gains financially. But I love that that 0:15:49.720 --> 0:15:52.280 it's just it's their backing liberation and they don't even 0:15:52.280 --> 0:15:54.760 really know they're doing that and they don't care. I mean, 0:15:54.760 --> 0:15:57.880 how great is that? Yeah? That that is great? Like 0:15:57.880 --> 0:15:59.200 like all these people that jumped in this e t 0:15:59.360 --> 0:16:01.720 F right, like all these like institutions, funds whatever buying 0:16:01.760 --> 0:16:04.120 in uh, and they don't realize that they're helping to 0:16:04.120 --> 0:16:08.720 support the network. To your point, like how exciting. Yeah, 0:16:08.800 --> 0:16:11.760 even even even when bitcoin has so many upsides, it 0:16:11.840 --> 0:16:14.320 can't do anything. But when of course that means that 0:16:14.440 --> 0:16:18.360 I've underinvested as the rest of everybody because it's such 0:16:18.400 --> 0:16:22.640 a it's such a solid situation. Yeah. And and to 0:16:22.640 --> 0:16:25.400 to that point, Jess, I think, what that's that's the 0:16:25.440 --> 0:16:28.800 whole piece, right, So like just trying to understand that, 0:16:28.840 --> 0:16:30.920 Like even I think I saw a story came out. 0:16:30.960 --> 0:16:32.720 I think it was a fake news story, but it 0:16:32.800 --> 0:16:35.200 said that Russia was adding bitcoin to their reserves and 0:16:35.200 --> 0:16:36.840 it started to kind of bounce it around. Even Max 0:16:36.880 --> 0:16:40.600 guys shared it, and so like even um Russia, who's 0:16:40.640 --> 0:16:43.280 you know, typically worth been taught to think of Russia 0:16:43.320 --> 0:16:45.800 being bad, but by them buying bitcoin kind of to 0:16:45.840 --> 0:16:48.600 the point you're making, jess um, that's actually helping secure 0:16:48.640 --> 0:16:51.240 the network for a freedom nothing but good news didn't 0:16:51.280 --> 0:16:54.840 In that article they said something about putting bitcoin on 0:16:54.920 --> 0:16:58.120 the federal reserves balance sheet as a reserve asset or 0:16:58.160 --> 0:17:00.280 something like that. I saw that in the article and 0:17:00.320 --> 0:17:04.040 bloombird somewhere. Yeah, so even even the government's, even the 0:17:04.040 --> 0:17:07.160 most totalitarian regime that wants to get involved with bitcoin 0:17:07.320 --> 0:17:10.199 is only working to support it. Now I want to 0:17:10.200 --> 0:17:11.960 switch gears. I want to talk about some other stories. 0:17:12.160 --> 0:17:15.159 There's some really really really big problems in the world today, 0:17:15.160 --> 0:17:18.800 and we have some serious literally like literally crisis is happening. 0:17:18.800 --> 0:17:20.119 And I don't want to um, I don't want to 0:17:20.119 --> 0:17:23.200 sound hyperbole, but I'm seriously this this is a serious 0:17:23.200 --> 0:17:25.680 crisis happening, and I think the leaders are so out 0:17:25.680 --> 0:17:30.440 of touch with this, and of course, like everything, bitcoin 0:17:30.760 --> 0:17:33.040 fixes this, and if you understand how big of a 0:17:33.080 --> 0:17:35.159 problem this is and how bitcoin can fix it, I 0:17:35.160 --> 0:17:37.840 think this is the information you need now. I'm joined 0:17:37.840 --> 0:17:40.840 with Matt Himanez and uh the lovely Jessica Vaughan. You 0:17:40.880 --> 0:17:43.679 can find Matt on Twitter at m j A Y 0:17:43.760 --> 0:17:47.200 Profits and Jessica Vaughan at Jessica Vaughan. And of course 0:17:47.280 --> 0:17:49.760 I am one Mark Moss. Give us a follows, shoot 0:17:49.800 --> 0:17:51.280 us a question to say you heard us on the radio. 0:17:51.560 --> 0:17:53.119 We'd love to hear from you. I'll answer your questions 0:17:53.119 --> 0:17:54.960 on the show next week when we get back, we're 0:17:54.960 --> 0:17:58.000 going to talk about the crisis that's happening and how 0:17:58.080 --> 0:18:01.439 bitcoin fixes this. Stay tuned. Hey everyone, welcome back to 0:18:01.600 --> 0:18:05.159 the Mark Moss Show. We are talking about Bitcoin, cryptocurrencies 0:18:05.160 --> 0:18:07.680 in the decentralized revolution. Um here with you each and 0:18:07.720 --> 0:18:09.919 every week, bringing you the information that you need to 0:18:10.040 --> 0:18:12.919 take advantage of the greatest wealth transfer that we have 0:18:13.000 --> 0:18:16.240 ever seen. Don't miss the show's pull atrophone. Put a 0:18:16.240 --> 0:18:18.520 reminder on right now for this station this time to 0:18:18.600 --> 0:18:20.639 be back each and every time. Follow me on Twitter 0:18:20.760 --> 0:18:23.080 at one Mark Moss on Instagram, shoot me a message. 0:18:23.320 --> 0:18:25.920 I'm joined by two of my really really good friends. Here. 0:18:25.960 --> 0:18:28.520 I got Matt Jimenez you can find him on Twitter 0:18:28.720 --> 0:18:31.760 at m j A Y Profits and I'm with Jessica Van. 0:18:31.800 --> 0:18:34.280 You can find her at Jessica Vaughan, find find them, 0:18:34.280 --> 0:18:35.760 follow them, tell him you heard him on the show. 0:18:36.200 --> 0:18:39.840 But we we just finished talking about Peter Field, one 0:18:39.840 --> 0:18:42.560 of the best investors history of tech, tech folks investor, 0:18:42.760 --> 0:18:44.560 and he says that he was under invested in in 0:18:44.600 --> 0:18:49.040 bitcoin because he he didn't understand he thought he thought 0:18:49.359 --> 0:18:51.560 he didn't know that there was still a symmetric opside. 0:18:51.560 --> 0:18:53.120 I left and so we talked about that, and now 0:18:53.359 --> 0:18:54.919 I want to jump in talk about some of the 0:18:54.960 --> 0:18:58.600 biggest news really in years. I think since since the 0:18:58.680 --> 0:19:02.480 last seven years, we've seen dozens of potential bitcoin e 0:19:02.560 --> 0:19:06.640 t f s get proposed and get denied. And this week, 0:19:06.800 --> 0:19:09.040 for the first time in history, we saw a bitcoin 0:19:09.160 --> 0:19:11.639 e t F come through. Now there's two types of 0:19:11.680 --> 0:19:13.800 e t f s. Really, if we break them down, 0:19:13.840 --> 0:19:16.000 we have a futures et F and a spot et F. 0:19:16.440 --> 0:19:20.040 One you're just betting on the future price, whether it's 0:19:20.080 --> 0:19:21.520 higher or lower or the other one is spot you're 0:19:21.520 --> 0:19:24.240 actually buying it. Um this we got the futures, which 0:19:24.280 --> 0:19:26.879 is not my personal favorite. I know, Matt, it's not 0:19:26.920 --> 0:19:28.720 your favorite either. What what what do you see wrong 0:19:28.760 --> 0:19:31.480 with the futures based e t F. Yeah, So with 0:19:31.680 --> 0:19:34.960 the futures based e t F, I think it's actually 0:19:35.040 --> 0:19:38.840 driving people away from the actual asset itself, like owning bitcoin. 0:19:38.960 --> 0:19:42.359 So instead of actually buying bitcoin and taking out of 0:19:42.400 --> 0:19:45.320 the supply of bitcoin, you're just buying a contract on it. 0:19:45.359 --> 0:19:47.800 And Mark, I know you love history. What happened when 0:19:47.800 --> 0:19:50.159 they did that with gold? What happened when they said, oh, 0:19:50.200 --> 0:19:51.840 we'll do the gold and we'll just write you the 0:19:51.880 --> 0:19:54.280 contracts for it. It didn't ends so well. And I 0:19:54.320 --> 0:19:57.400 could kind of see the same exact thing play out 0:19:57.760 --> 0:20:01.560 for bitcoin. They're gonna institutionalize it and they're going to 0:20:01.640 --> 0:20:03.399 come up with all these different contracts and all these 0:20:03.400 --> 0:20:06.520 different ETFs in different ways to interact with the asset 0:20:06.800 --> 0:20:10.200