Speaker 1: Everyone, you are listening to the Mark Mo Show, We're
Speaker 1: talking about bitcoin and cryptocurrencies. We're talking about the decentralized
Speaker 1: revolution of course, each end every week, and as I
Speaker 1: constantly say all the time that to really get to
Speaker 1: understand what is going on with bitcoin and this decentralized
Speaker 1: revolution that's happening, there's so many different areas to dive into,
Speaker 1: which is why I can sit here and talk for
Speaker 1: hours and hours and hours each and every week to
Speaker 1: here because there's never ending amount of content that we
Speaker 1: can talk about, which keeps it UM fun, it keeps
Speaker 1: it interesting, and it also keeps you on your toes.
Speaker 1: Now we'd like to say that you know, bitcoin leads
Speaker 1: you into this rabbit hole because there's so much information
Speaker 1: that you can UM dig into. Now this week, UM
Speaker 1: I have a special guest to have one of my
Speaker 1: good friends, Alex s Fetzky in the studio with me,
Speaker 1: and we thought we'd talk about um one big area.
Speaker 1: So what There's a lot of different places that you
Speaker 1: can focus on bitcoin and um Some people want to
Speaker 1: talk about the money side, or some people want to
Speaker 1: talk about the technical side. UM I let this focus
Speaker 1: on why why should we even care about bitcoin, and
Speaker 1: of course to understand why, you have to understand some
Speaker 1: of the problems that we're having today. And so I
Speaker 1: thought we'd bring Alex in and we talk about something, UM,
Speaker 1: that's really a big problem right now. And it's a
Speaker 1: big problem even specifically, and we're gonna have to dance
Speaker 1: around this topic as we talk about the topic. UM,
Speaker 1: but it's uh, it's it's about uh we'll call it, um,
Speaker 1: we'll call it an attack on our private property, which
Speaker 1: is a big subject. But I want to talk about
Speaker 1: attack on private property, which is probably the most sacred
Speaker 1: private property, which is my own thoughts. And when when
Speaker 1: my speech what I'm able to say get censored and
Speaker 1: I have to watch what I say, then I have
Speaker 1: to start censoring what I think, which is what I'm
Speaker 1: doing right now as I'm trying to think about how
Speaker 1: I can dance around this subject. And so, um, we're
Speaker 1: being attacked by all those things. And I got my
Speaker 1: good for now, Alex Fetsky in the in the studio
Speaker 1: with me, talk about this. What's up Alex? Some man
Speaker 1: story that was just funny. It was it was funny,
Speaker 1: yah sad but true. Yes, Yes, what a strange world
Speaker 1: of living in Um, so I assume, I assume what
Speaker 1: you're talking about. There is this idea of the freedom
Speaker 1: to think, of the freedom to speak. You know the
Speaker 1: fact that the thought police are out there monitoring what
Speaker 1: we think they can do. Well, they're definitely monitoring what
Speaker 1: we say. And um, but but when I have to
Speaker 1: monitor what I say so I don't get caught by them,
Speaker 1: then I have to monitor what I think, which is
Speaker 1: which is interesting. I was I was out surfing this
Speaker 1: morning and one of my buddies in the water and
Speaker 1: I said, Hey, did you catch that latest Joe Rogan episode? Um,
Speaker 1: where he had that Dr mccola on there, and uh,
Speaker 1: we were talking about that episode, which has gone crazy
Speaker 1: viral by the way, which we won't dig into a
Speaker 1: whole lot, but he said, um. He said, you know,
Speaker 1: they the government cannot refute anything he said, so all
Speaker 1: they can do is censor him. And I was like, dang, um, yeah,
Speaker 1: if you can't. There's a quote that I keep saying
Speaker 1: over and over I recently heard and I just love
Speaker 1: it. It It says that ripping a man's tongue out does
Speaker 1: not prove him wrong. It only proves you're only proves
Speaker 1: you you're afraid of what he might say. Um, So anyway,
Speaker 1: I don't know I think about that, But I mean,
Speaker 1: what the heck does that have to do with bitcoin? Well,
Speaker 1: let me let me flip and ask you a question. Um.
Speaker 1: You know, people, particularly in America, you've got encoded in
Speaker 1: the Constitution, the First Amendment, this idea of the freedom
Speaker 1: of speech, and you know, everyone talks about it and
Speaker 1: takes the general idea for granted. I mean, you know,
Speaker 1: there's a lot of stupid people out there who don't
Speaker 1: think it's a good idea. But you know, I think
Speaker 1: by and large, if you're if you're a intellectually competent
Speaker 1: human being, um, you understand at least, um, at the
Speaker 1: very least you agree with the notion that freedom of
Speaker 1: feat is important. But I don't know if many people
Speaker 1: can articulate it's important. So maybe maybe I'm going to
Speaker 1: throw the question at you and you might have heard
Speaker 1: me mention it a little bit with JP and we're
Speaker 1: doing that spaces. But in your mind, Mark, why why
Speaker 1: do you think freedom of speech is important? Why do
Speaker 1: you think it's a good thing in general? Well, I
Speaker 1: would say that the freedom of speech is important. I mean,
Speaker 1: obviously the deep subject. But I think overall that it's
Speaker 1: the way that we learn and so um we don't
Speaker 1: know the right things to say. We learn the truth
Speaker 1: through discussion, and um so I think that's the big
Speaker 1: ones that we can learn through discussion. I would say
Speaker 1: it also encourages learning and also creativity, and so all
Speaker 1: progress in the world comes from creativity. And if we
Speaker 1: limit creativity and limit learning, then we limit progress as well.
Speaker 1: Um So I'd say I'd say those are probably two
Speaker 1: pretty big reasons why it's pretty important. Okay, yep, yep.
Speaker 1: I think that's definitely, you know, in the right direction.
Speaker 1: I think for me, I want to take it up
Speaker 1: a notch. And you know, I'm doing some thinking around
Speaker 1: this and writing a new article called It's it's a
Speaker 1: it's a dive into how since it has become profitable,
Speaker 1: and it's called a new Leviathan um and it looks
Speaker 1: at how the tech oligoppoli is a kind of becoming
Speaker 1: quasi government operations in the sense and basically at this point,
Speaker 1: much like um, if you've ever read anything of biology
Speaker 1: and this idea of the revolutionary phenotype, how DNA took
Speaker 1: over RNA as RNA used it as a mechanism to
Speaker 1: replicate UM, and then you know, IRNA use DNAs and
Speaker 1: mechanism to replicate to the point where DNA was able
Speaker 1: to just replicate itself and it subsumed irona into it,
Speaker 1: and then DNA became the primary species and rona became
Speaker 1: subservient to it and UM, and it's really interesting that
Speaker 1: there's something similar happening here with UM. With governments and
Speaker 1: and large tech Oligoppoli is where you know they are
Speaker 1: at this point, you know, we're sort of in the
Speaker 1: phase of the inversion. We're in the phase of the
Speaker 1: the government is effectively mandating and using these technology companies
Speaker 1: to basically be a branch or an executioner of its mandates.
Speaker 1: But at some point, you know they're gonna and it's
Speaker 1: we're already seeing it in many ways, they're going to
Speaker 1: become more powerful than the government and they can do
Speaker 1: what the hell they want, and it kind of you
Speaker 1: get this inversion, and that's that's a dangerous thing for
Speaker 1: society because then you know, power continues to centralize. You
Speaker 1: you jump from the fry pan into the fire and
Speaker 1: all this sort of stuff. But in each of these models,
Speaker 1: like there's a there's a there's a thread within them,
Speaker 1: which is this idea that censorship becomes a profitable mechanism.
Speaker 1: And for me, um, I wanted to take a step
Speaker 1: back and think about, like what, why why is free
Speaker 1: speech important? And if free speech is a good thing,
Speaker 1: and it is important, it actually should be the most
Speaker 1: profitable mechanism and for human beings to use to cooperate
Speaker 1: and to interact, right, And if it's not profitable, then
Speaker 1: you know, it's actually probably not a good thing because
Speaker 1: because profits suggests in some way, shape or form that
Speaker 1: what you're doing is perceived as valuable. So I guess
Speaker 1: I look at society as its complex system, right, and
Speaker 1: we you know, society is made up of diverse range
Speaker 1: of individuals, of human beings, of collectives at every single dimension,
Speaker 1: whether it's the tribe, the community, the corporation, you know, whatever, institution, etcetera.
Speaker 1: So you've got all of these entities operating and operating
Speaker 1: with some sort of intention to continue to survive or
Speaker 1: exist or do the best for itself, right um. And
Speaker 1: doing so, you've got this kind of like this almost
Speaker 1: the functional madness of the crowds. And in order for
Speaker 1: this complex system too to subsist. And this is this
Speaker 1: is found in all complex system, whether it's a human body,
Speaker 1: whether it's society, whether it's an economy, whether it's whatever,
Speaker 1: my cellium, etcetera. The capacity for feedback loops to to
Speaker 1: signal either bad actions or good actions so that bad
Speaker 1: actions can be corrected and good actions can be doubled
Speaker 1: down on depends upon really good communication to flow through
Speaker 1: the system. If you clog up the communication, the system
Speaker 1: can't permeate um information properly, and therefore value judgments can't
Speaker 1: be made, and therefore the system begins to break down
Speaker 1: and decay. You know, that's what you have when you
Speaker 1: have they clogged up human body for example of secuman bodies,
Speaker 1: signals are not flowing properly and the body dies and
Speaker 1: that's the sort of thing. Yeah, let's hold right there.
Speaker 1: Something I was talking about, like the supply change breaking
Speaker 1: down because that price signal is getting distorted as well.
Speaker 1: I want to dig more into that. We're talking about
Speaker 1: free speech, but how this ties back into bitcoin. So
Speaker 1: stay with us. You're listening to the Marketmas show. We're
Speaker 1: talking about bitcoin, talking about cryptocurrency, is talking about this
Speaker 1: decentralized revolution, talking about how free speech is important and
Speaker 1: how bitcoin can fix that. Uh, it's the long way around,
Speaker 1: but these are the things that you need to know.
Speaker 1: It's why bitcoin can change the world. Uh, you're listening
Speaker 1: to the Markma Show. We'll be right back. Don't go away, everyone,
Speaker 1: Welcome back. You're listening to the Markma Show. We're talking
Speaker 1: about bitcoin and cryptocurrencies in this decentralized revolution that is
Speaker 1: literally changing the course of humanity. It's that big. And
Speaker 1: I say it's that big because it's literally going to
Speaker 1: change the entire way the world works, the way that
Speaker 1: humanity works, and it's going to change every part of life.
Speaker 1: And so we talk about all these different areas, UM,
Speaker 1: all these reasons why bitcoin would be important, all these
Speaker 1: reasons of what are these things that what bitcoin can fix?
Speaker 1: And right now I'm in studio with my good friend
Speaker 1: Alex Spetzky and we're talking about free speech and thought
Speaker 1: and why that's so important and how bitcoin can fix this. Um.
Speaker 1: It's an interesting conversation and it's something bigger than you
Speaker 1: might have thought about. And before the break, Alex, you
Speaker 1: were um kind of explaining how when you how free
Speaker 1: speech is necessary, it's the signal that allows all this
Speaker 1: information to kind of move through society or civilization. And
Speaker 1: when you free when you when you kind of censor
Speaker 1: free speech, you start to jam that up. I think
Speaker 1: that's kind of where you're at pretty much pretty much.
Speaker 1: So free speech has a functional role to play in
Speaker 1: a functional society. It means that communication can flow, and
Speaker 1: bad decision making can be corrected, and good decision making
Speaker 1: can be doubled down. Now, this is only the reality
Speaker 1: when the world that we live in is at actually
Speaker 1: representative or reminiscent of reality. And and and so what
Speaker 1: I mean by that is, currently we have a world
Speaker 1: in which our economy is defined not by what is
Speaker 1: actually happening out there in the world, but are defined
Speaker 1: by made up models that academics and kingsians and central
Speaker 1: bankers and central planners make up that are you know, theoretic,
Speaker 1: purely theoretic. They do not match anything that reality actually
Speaker 1: you know, represents backwards, you know, so sort of sort
Speaker 1: of like you know, they have a model and they say,
Speaker 1: you know, inflation is this, but in their model, they're like, okay,
Speaker 1: well let's just take out energy, let's just take out food,
Speaker 1: Let's just take out all the things that are actually
Speaker 1: going up in price, and let's just keep you know,
Speaker 1: televisions in there, you know things, Let's keep iPhones in there, like,
Speaker 1: let's keep Netflix in there. So it's like the model
Speaker 1: has zero representation to the real world. UM, and you
Speaker 1: know that they kind of lie to themselves. And this
Speaker 1: is where um, free speech is actually not profitable if
Speaker 1: you want to lie to yourself, if you want to
Speaker 1: build a system and a model that can only subsist
Speaker 1: based upon a lie, the only mechanism that you have
Speaker 1: to remain profitable, quote unquote is to censor the truth
Speaker 1: and to censor the feedback so that you can subsist.
Speaker 1: And what that does is it creates an incentive for
Speaker 1: the institutional whoever is operating that model, to basically leach
Speaker 1: from somewhere and basically steal rob pillage in whatever method
Speaker 1: it needs. So whether that's taxation and inflation, mindlessly borrowing
Speaker 1: from the future and increasing death ceilings and stuff like that,
Speaker 1: you have to do that so that you can continue
Speaker 1: lying to yourself and tell yourself that the model is real.
Speaker 1: But you can't do that in reality. And this is
Speaker 1: the big diverged for me. This is like the center
Speaker 1: of the divergence of humanity At the moment, it's like
Speaker 1: we are operating on a map that does not represent
Speaker 1: the territory. Like we are literally on an island somewhere
Speaker 1: and we're reading a map and the map tells us
Speaker 1: that there's grass and you know, lakes and everything everywhere,
Speaker 1: and it's all beautiful. But you know, you look aside
Speaker 1: from the map and it's like desert and you're like,
Speaker 1: wait a minute, what's going on here. So you're you're
Speaker 1: you're you're dying, and there's there's other people around you
Speaker 1: all have a little bit of water, and they're like, hey, man,
Speaker 1: we're in the desert. We're all going to die if
Speaker 1: we don't find water. And you're like, no, no, no.
Speaker 1: The map says there's water everywhere, and because you're the
Speaker 1: owner of the map, you take everybody else's water and
Speaker 1: you keep drinking it for yourself, and everybody else around
Speaker 1: you is dying um, and you keep deluding yourself that
Speaker 1: the map is the reality when it's not. That's the
Speaker 1: world that we're living in because we've conflated the model
Speaker 1: for reality, and in that sense, the speech that is
Speaker 1: coming from those around you who are basically dying a first. Now,
Speaker 1: because you keep stealing the water, you want to censor
Speaker 1: them and say shut up, the map is real. Yeah,
Speaker 1: and that's what we're suffering from today. So um, in
Speaker 1: a in a way, then by censoring the speech, it
Speaker 1: censors that or distorts that signal. And there's that sort
Speaker 1: of how the price signals also getting distorted. I mean
Speaker 1: it's still it is distorting communication that controls the economy
Speaker 1: is in the supply chains that way, correct, So think
Speaker 1: about this, every everything that we do as an economic function. Right,
Speaker 1: So when we perform any form of action, it is
Speaker 1: a decision. So we're making a value judgment in order
Speaker 1: to make a decision in order to know where to
Speaker 1: allocate our precious time and energy. Right. So, so in
Speaker 1: that sense, free speech is actually an economic function. It
Speaker 1: helps us make that value judgment. So when we distort
Speaker 1: that economic function, we then start to distort all the
Speaker 1: subsequent signals that come after that, and we can then
Speaker 1: not make accurate value judgments, and we start creating and
Speaker 1: doing stupid things that don't make sense. And then we
Speaker 1: also don't know that we're doing stupid things that don't
Speaker 1: make sense because we don't have the feedback mechanisms, and
Speaker 1: this sort of then ties into why the advent or
Speaker 1: the discovery whatever you want to call something like bitcoin.
Speaker 1: So so let's just even transcend the name bitcoin, like
Speaker 1: the idea of discovering energy money, where the money represents
Speaker 1: the finite resources that are time and energy, like when
Speaker 1: those two are tied together, like I call it the
Speaker 1: fusion of the physical and the metaphysical, when those two
Speaker 1: come together. And when you perform a bad economic action
Speaker 1: because you've made a bad value judgment and therefore you know,
Speaker 1: squandered your resources your time and energy, you actually lose
Speaker 1: this energy money, you lose bitcoin. Um. You have a
Speaker 1: direct feedback mechanism telling you that what you're doing is wrong,
Speaker 1: and you cannot lie to yourself. But when you have
Speaker 1: fiat money and you make a poor economic decision like
Speaker 1: let's lock down half the world, um, and in doing so,
Speaker 1: let's then print two and a half trillion dollars or whatever,
Speaker 1: and then prices go up, then you can lie and
Speaker 1: you can say, okay, let's just print some more money.
Speaker 1: Let's blame the businesses, let's blame the greedy capitalists, blame
Speaker 1: everybody else. But you are creating the problem and you
Speaker 1: just keep lying about it. Like on a bitcoint standard,
Speaker 1: you just can't do that because like that the feedback
Speaker 1: is instant. It's like you lost the money, you're dead,
Speaker 1: you're you know, your your bankrupt, your broke. On a
Speaker 1: on a fiat standard, you can just add some extra digits. Yeah.
Speaker 1: So in a sense, then you're saying that the free
Speaker 1: speech is the signal, sort of like the prices is signaled.
Speaker 1: And um, in pricing, we need profits. So businesses need
Speaker 1: profit to chase. That's what gives us that feedback loop.
Speaker 1: If I'm not making a profit, then nobody wants what
Speaker 1: I have to offer. It's wrong, it's misaligned. And if
Speaker 1: I am making a profit, that means I found a
Speaker 1: good market fit. And so there's that feedback loop, and
Speaker 1: we can also find the same thing I'm guessing with speech. Um,
Speaker 1: if you're just tuning in, you're listening to the Mark
Speaker 1: Mo Show, we're talking about bitcoin and cryptocurrencies in this
Speaker 1: decentralized revolution. I'm in the studio with Alex S. Fetzky
Speaker 1: and we're talking about a little bit of a philosophical
Speaker 1: entry into bitcoin to kind of explain why bitcoin is
Speaker 1: so important but even more importantly, how it can really
Speaker 1: change the world through things that most people don't really attribute,
Speaker 1: things like money to fix. And so we're talking about
Speaker 1: free speech. He was kind of giving us an intro
Speaker 1: into how free speech is a signal and then how
Speaker 1: that kind of goes into profits. Um, so I want
Speaker 1: to get into more of that in a second. Um,
Speaker 1: if you're on Twitter, you can find me at number one,
Speaker 1: Mark Moss, shoot me a question, and we got Alex
Speaker 1: at at ghost of Spetzky's s V E T s
Speaker 1: k I. So give us a give us a follow,
Speaker 1: give us a question. Um, we're talking about bitcoin. We're
Speaker 1: talking about this decentralized revolution. We're talking about why it's important.
Speaker 1: We're talking about how speech. Censoring speech just storts the signal,
Speaker 1: sort of like profit. We're gonna be right back with more.
Speaker 1: Don't go away, all right, everyone, welcome back. You are
Speaker 1: listening to the markma Show, and we're talking about bitcoin.
Speaker 1: We're talking about this giant decentralized revolution that is happening.
Speaker 1: We're we're living through it, we're witnessing it right now.
Speaker 1: And you know a lot of times people are like
Speaker 1: I get it, I get it again, I get it's
Speaker 1: it's like digital gold right. Oh no, no, it's like
Speaker 1: it's like digital money. Sure, I get it, I get it, right, Um, yeah,
Speaker 1: it is those things. It is, sure it is, but
Speaker 1: it's so much more. That's like when electricity was invented
Speaker 1: and somebody says, I get it. I get electricity. It's
Speaker 1: like a digital candle, right, and like, why do I
Speaker 1: need that? Because like a candle is better, it's been
Speaker 1: light for five thousand years and it's portable and I
Speaker 1: don't need wires um and so yeah, sure it was
Speaker 1: like a digital candle with it's so much more. And
Speaker 1: so so bitcoin is like digital goal, but it's so
Speaker 1: much more, and it's something that can even change the
Speaker 1: world because of the censorship of speech and communication. And
Speaker 1: Alex Fetzki is in the studio with me right now.
Speaker 1: He's explaining this to us, and I kind of cut
Speaker 1: you off before that that last break there, but you're
Speaker 1: explaining I think you're about to transition into how um,
Speaker 1: speech is this feedback loop and then it kind of
Speaker 1: goes into like profit. How profit is also a feedback
Speaker 1: loop for businesses. I think that's kind of where you were. Yes, So,
Speaker 1: so I guess to tax this all together. What I've
Speaker 1: said in the past, Um. I was with Nat Brunel
Speaker 1: on a on a little podcast a couple of weeks ago,
Speaker 1: and one of the points I was making was, I
Speaker 1: think Bitcoin's biggest impact on society is going to be
Speaker 1: the fact that it will make economic consequences. It'll it'll
Speaker 1: reintroduce economic consequence to all action, um, whether at the corporate, individual, institution,
Speaker 1: or whatever level. Right, So, so it makes action accountable
Speaker 1: because at the moment, if you're close enough to the
Speaker 1: monetary spigot, you are not accountable to anybody or anything.
Speaker 1: You can make, You can perform badly, and you just
Speaker 1: print the money, you borrow the money you you know
Speaker 1: you created, you know, you tax it from someone. Right So,
Speaker 1: so when you have that moral hazard, everything else distorts,
Speaker 1: and then everything downstream starts and deform. Right by bitcoin
Speaker 1: becoming a standard economic consequence. Like over in here, it's
Speaker 1: like bitcoin makes economic consequence great again. But in doing so,
Speaker 1: because economic consequences so tight tightly tied to action, and
Speaker 1: at that point, it actually makes free speech profitable again.
Speaker 1: And that's what we need to do. We need to
Speaker 1: make free speech profitable again, because if you are a
Speaker 1: business of any kind operating on a bitcoin standard, and
Speaker 1: you don't have the option of being bailed out. You
Speaker 1: don't have you know, a government doesn't have the option
Speaker 1: of just bailing you up for poor decision making or
Speaker 1: for whatever. Um, you will go ahead and censor someone
Speaker 1: because you know, at the moment the government pays, you know,
Speaker 1: whether it's Twitter or Facebook or whatever or mandates them,
Speaker 1: which which is another form of I guess, uh it's
Speaker 1: a reverse payment, right, It's like if you don't do this,
Speaker 1: will shut you down. So it's like, you know, it's
Speaker 1: it's a different make it's a it's a different economic
Speaker 1: reason to do so, right, But when that can't happen,
Speaker 1: since ship actually becomes a not very profitable business model,
Speaker 1: Like if you're going to go on one platform in
Speaker 1: your sense and universus another platform and you're not sense
Speaker 1: it like where you're gonna go. So so it's like
Speaker 1: that is I think how we fix this sensor problem.
Speaker 1: It's not through decentralization. It's not through you know, building
Speaker 1: some sort of you know, uh, you know D five
Speaker 1: version of Twitter or anything like that. It's by removing
Speaker 1: the problem upstream, making all action economically accountable um, introducing
Speaker 1: consequence to all action and making all service providers, whether companies, institutions, governments,
Speaker 1: or whatever, actual service providers not overlords to their customers.
Speaker 1: And the customers are anybody holding bitcoin because in this
Speaker 1: game you can't just take it from them. So UM,
Speaker 1: I get that. But something I think about in in
Speaker 1: regards to a free market, um, censorship might act should
Speaker 1: be profitable. So for example, if I want some somewhere
Speaker 1: for my kids to go into, some sort of kids community,
Speaker 1: for example, I might I might prefer as a paying
Speaker 1: customer to pay for them to go in a community
Speaker 1: that is censored where they censor all that stuff out right. Um,
Speaker 1: But then for me, I would prefer to go into
Speaker 1: another community that I can talk to my audience that
Speaker 1: isn't censored, right, And so um it could be. I mean,
Speaker 1: censorship could be a profitable model, But it just goes
Speaker 1: back to the free marketing with the free markets demanding
Speaker 1: and wanting. Yes, censorship is only profitable in a localized environment.
Speaker 1: That's the that's the big difference. So so so when
Speaker 1: when you've got to control like a walled garden, it
Speaker 1: makes sense. The problem is is in this trend towards
Speaker 1: a globalist, homogeneous state. The entire world becomes a world garden,
Speaker 1: and then you try and apply sensorship across the whole thing.
Speaker 1: That is where it doesn't work, because in order for
Speaker 1: life to subsist, there must be diversity. So within individual
Speaker 1: world gardens, different elements of sensorship might work, but it
Speaker 1: has to be low all lives, and that can't scale
Speaker 1: beyond a particular number because beyond the particular number you
Speaker 1: get the you get the problem of complex systems requiring
Speaker 1: some sort of feedback, right, So it only works in
Speaker 1: a localized capacity. So then we can take that and
Speaker 1: we can blow that up to even bigger, which is
Speaker 1: then um really, I think what you're talking about is
Speaker 1: is bitcoin makes it unprofitable um to to be wrong,
Speaker 1: to have these misaligned incentives. And if we take it
Speaker 1: to a bigger level than we talk about, like on
Speaker 1: a government, and if a government can't print un limited
Speaker 1: amounts of money and they had to stick to a
Speaker 1: standard like a gold standard or a bitcoin standard, they
Speaker 1: would then also have to be good management of their
Speaker 1: money or they would lose. And so in that type
Speaker 1: of environment, I think kind of like you're talking about
Speaker 1: censorship working only in a smaller kind of a walled garden,
Speaker 1: not a national one. I think that's also the way
Speaker 1: politics should also work. Right, So it's like, uh, just
Speaker 1: in the United States, I mean, three and thirty million
Speaker 1: people is way too many to be under one regime
Speaker 1: or one set of rules, and so kind of the
Speaker 1: same thing, right. It's like, Hey, if I want to
Speaker 1: live in a neighborhood and and this is a good
Speaker 1: example for people, Um, like I could live in a
Speaker 1: in a gated neighborhood with an association. But then, like,
Speaker 1: I'm not allowed to park on the street, and that's
Speaker 1: a pain in the ass. I don't like to park
Speaker 1: in the street. I don't like to have to get
Speaker 1: my trash cans in by five o'clock. I don't like
Speaker 1: that I can only paint my house three different colors.
Speaker 1: I don't like that. But on the flip side, is
Speaker 1: all that my neighborhood looks clean. There's no cars on
Speaker 1: the street, all the houses are the same, and it
Speaker 1: looks good. And so some people like that, And I
Speaker 1: can choose to live in that gated neighborhood if I want. Um,
Speaker 1: I used to live in a gated neighborood about four
Speaker 1: years where I moved to a non gated neighborhood and
Speaker 1: the homes are even more expensive in the area that
Speaker 1: I'm at. But sometimes there's an RV in the driveway,
Speaker 1: sometimes the guy's got a junker in the drive because
Speaker 1: there's no association to enforced it. Um, so I'm free,
Speaker 1: but sometimes I don't like it as much. Or I
Speaker 1: can go over there where I it's it's cleaner and
Speaker 1: I like it better. But then I'm not free, but
Speaker 1: I get to choose, and I think that's kind of
Speaker 1: the difference. Absolutely, yes, so so basically so, so you've
Speaker 1: got this kind of corrective mechanism, right, So if you'll,
Speaker 1: again let's use the gated community as an example. If
Speaker 1: you have a contractual relationship, you know, so so as
Speaker 1: you mentioned that you can only paint three colors, etcetera, etcetera.
Speaker 1: Their their actual forms of censorship, but light censorship, right,
Speaker 1: and now you may agree to those upfront, but then
Speaker 1: let's say over time they're like, okay, now you can't
Speaker 1: do this, and they can't do this, and they can't
Speaker 1: do this, and I can't do this. You're like, wait
Speaker 1: a minute, this this is ridiculous. I didn't sign up
Speaker 1: for this. The level of censorship is too high, the
Speaker 1: level of restriction, because that that's effectively what censorship is, right,
Speaker 1: it's a form of restriction. It's too high. I'm leaving,
Speaker 1: um enough people leave the restriction. What that is is
Speaker 1: a market feedback signal to that localized entity saying that hey,
Speaker 1: the restrictions are too too far reaching. We need to
Speaker 1: uh parry them back. So you know that you have
Speaker 1: this natural corrective mechanism or this natural stabilizing mechanism for
Speaker 1: censorship as part of your business model. But when it
Speaker 1: becomes the you know, the the thing via which like
Speaker 1: you know, where it's run by one sort of you know,
Speaker 1: ministry of truth, where people are genuinely saying, hey, wait
Speaker 1: a minute, this is a fact. And you know if
Speaker 1: someone turns around says, no, it's not in your band um,
Speaker 1: like you said, it's like ripping someone's tongue out. That
Speaker 1: is like it's yeah, I mean what else can I say?
Speaker 1: It's like it's a it's a is this fearful attempt
Speaker 1: to push down the truth in an attempt to perpetuate
Speaker 1: a lie um so that you can keep I guess
Speaker 1: robbing the people who are you know, unassuming or who
Speaker 1: don't get it. It's really it's really disgusting. Yeah, yeah,
Speaker 1: I like I like that. What I like about that
Speaker 1: is where this goes on a bigger scale. So I
Speaker 1: would say the first thing I say is that I
Speaker 1: think that You asked me in the beginning, like what
Speaker 1: do I think free speech is important for? And I said,
Speaker 1: I think that through through open free speech we find truth, right,
Speaker 1: truth discovery kind of like in a free open market
Speaker 1: you find price discovery, you only find price discovery, and
Speaker 1: free market you only find truth in a in an
Speaker 1: open discussion environment as well. Um, but what I really
Speaker 1: like this this is this feedback mechanism. Like we talked
Speaker 1: about moving from a gated neighborhood to another. If enough
Speaker 1: people move out of the gate neighborhood, they have to
Speaker 1: change because they're like, shoot, we're gonna lose revenue. We
Speaker 1: have to change. And I want to talk about what
Speaker 1: that does on a bigger global scale. When we come back.
Speaker 1: You're listening to the Markmas Show. We're talking about bitcoin.
Speaker 1: Uh in a long round about what we're talking about bitcoin.
Speaker 1: We're talking about how bitcoin can change the world. We're
Speaker 1: gonna talk about how it's going to change the world more.
Speaker 1: We'll be right back. All right, welcome back. You are
Speaker 1: listening to the Mark Moss Show. We're talking about bitcoin.
Speaker 1: We're talking about the decentralized revolution that we are living
Speaker 1: through right now, and we're talking about something a little
Speaker 1: bit deeper than you might normally here. We're talking about
Speaker 1: how bitcoin changes, the kind of the incentive structure, and
Speaker 1: how it can change the world. I'm in the studio
Speaker 1: with my good friend Alec Swetzky. That's s V E. T.
Speaker 1: S k I. You can find them on Twitter at
Speaker 1: Ghosts of Spetzky, and of course I'm the one Mark
Speaker 1: Moss on Twitter. Um. So, Alex, this is something I've
Speaker 1: been saying for a long time, and we've had discussions
Speaker 1: about this, but I think it's apparent to anybody who's
Speaker 1: paying attention. Um. Of course, we're trying to bring this
Speaker 1: back to bitcoin, but I think it's important that our
Speaker 1: apparent and anybody paying attention that the world is trending
Speaker 1: towards authoritarianism, which of course is the censorship of speech
Speaker 1: and censorship of private property and all these things. And
Speaker 1: so the world is trending towards authoritarianism, and I have
Speaker 1: I kind of believe that the way that we break
Speaker 1: that trend isn't through violence. It's not through war, it's
Speaker 1: not through guns. I think it breaks through competition. And
Speaker 1: so kind of like what you gave us before the
Speaker 1: break talking about if enough people move out of the
Speaker 1: gated neighborhood, um if if if if, if we have competitions,
Speaker 1: that gated neighborhood would have competition. Um those people and
Speaker 1: the homeowners, those people that live in the neighborhood wouldn't
Speaker 1: go by force and with guns and kidnapped the founders
Speaker 1: in time to change the rules. No, they would just move.
Speaker 1: And and that in in in order to compete that
Speaker 1: homeown associates would have to change those rules. And I
Speaker 1: think that we've seen that in the United States where
Speaker 1: Texas and Florida out competed in New York and California.
Speaker 1: Both governors found themselves on the chopping block. One made it,
Speaker 1: one didn't. Um. But I think we're starting to see that,
Speaker 1: you know, in in the United States, but we're also
Speaker 1: starting to see on a national scale where now we
Speaker 1: have like El Salvador who's now said, hey, bitcoins legal,
Speaker 1: by the way, everybody can move here. No more mandates,
Speaker 1: no more testing, um, no more, no more income taxes,
Speaker 1: property taxes, like come, make as much money as you want.
Speaker 1: And I think if enough people go there, then we
Speaker 1: saw now Paraguay is saying, hey, well us too, and
Speaker 1: then maybe it's you know, Costa Rica, and then maybe Panama.
Speaker 1: And after enough of those companies countries jump on the
Speaker 1: bandwagon and enough people leave, you know, places like the
Speaker 1: United States. Um, rather than by force, the United States
Speaker 1: will go wait a minute, wait a minute, We're losing
Speaker 1: all the productive members of society. We should change our rules.
Speaker 1: I mean, what is that kind of what you see? Yeah?
Speaker 1: So so? I mean, the only vote that really really
Speaker 1: matters is not the name you put on a ballot. Like,
Speaker 1: the only vote that really matters is where you put
Speaker 1: your paycheck, right, Like, where where you allocate your money.
Speaker 1: That's simple as that. Like when I go and buy
Speaker 1: um grass fed beef over you know, beyond soy Berger
Speaker 1: or whatever they call um, I'm voting for meat, not
Speaker 1: for fake meat. Right When I go and eat at
Speaker 1: one restaurant over another, I am voting for that restaurant.
Speaker 1: When I buy one thing over another, I'm doing that
Speaker 1: you know that so so that that is the only
Speaker 1: vote that really matters. Everything else is just the sharade. Um.
Speaker 1: So so when you think about it at that level,
Speaker 1: it's like the free market has its own voting mechanism
Speaker 1: literally baked into it, which is what people buy is
Speaker 1: what they want, right, um, and and that's what we do.
Speaker 1: So when you, um, when you scale that up in
Speaker 1: a world where the government can't buy its own votes
Speaker 1: really because because that's that's when you think about what
Speaker 1: inflation and taxation isn't borrowing from the future, it's it's
Speaker 1: just buying its own votes. Um. You know, it's the
Speaker 1: government has no feedback mechanism, which is, you know, the
Speaker 1: consumer doesn't get a choice. Um, the government can do
Speaker 1: whatever it wants um. And whatever decision it makes wrong,
Speaker 1: right or indifferent, Um, it just goes and prints a
Speaker 1: little bit more money, taxes a little bit more, and
Speaker 1: borrows more. You know, Like, I mean that that thing
Speaker 1: with Biden last week was just hilarious. We pay our
Speaker 1: debts by taking on more debt. Congratulations, man, Like that's
Speaker 1: just like it's just cracked up. Man. So, so in
Speaker 1: that kind of a world, like you know, you're living
Speaker 1: a fraud, and you know, you don't really have an
Speaker 1: economic vote, you know, you don't. You know, everything is
Speaker 1: a big charade. So on the Bitcoin standard, where as
Speaker 1: a governor's institution of any kind, you know, small state,
Speaker 1: big state, whatever, where you can't actually do that. You
Speaker 1: can't print, you can't forcibly tax, and you can't just
Speaker 1: borrow from a future because no one's going to give
Speaker 1: you money if you're a bad operator. Um, all you
Speaker 1: can do is function like a really good service provider
Speaker 1: and say, hey, come here, work here, will provide the
Speaker 1: bare minimums I don't know, judicial service, protection, service, whatever,
Speaker 1: whatever you know, benefits we want to provide and come
Speaker 1: and operate. Um. And then you have to voluntarily pay
Speaker 1: for that. And what happens is the relationship changes from
Speaker 1: subject overlord which is what we've got at the moment,
Speaker 1: to customer service provider, which is what we want. And
Speaker 1: that that's a that's a functional relationship. And in that
Speaker 1: kind of a relationship, if someone's not treating you well,
Speaker 1: you go and you know, vote elsewhere with your economic energy. Yeah.
Speaker 1: In the in the book, the sovereign individual, they talk
Speaker 1: about like a dairy cow locked up in a pin
Speaker 1: and the farmer just you know, takes all the milk
Speaker 1: they want. But then if the cow could grow wings,
Speaker 1: and the cow can grow wings, and the the government's forced
Speaker 1: to instead of looking at you as a as a
Speaker 1: serf or a servant, they can look at you as
Speaker 1: a customer. And I think, you know, we've seen this
Speaker 1: before when when I was a kid growing up, I
Speaker 1: had many friends who came from oppressive regimes, um you know, Afghanistan, Iran,
Speaker 1: our South Africa even and when they came, they had
Speaker 1: a compeny less because they couldn't bring their real estate
Speaker 1: or their goal. They couldn't even bring the money in
Speaker 1: their banks. They had a compennyless. And so how much
Speaker 1: good does it do um a country when you when
Speaker 1: you leave, but you leave all your wealth to them.
Speaker 1: But bitcoin allows us to take our wealth with us,
Speaker 1: which I think will rapidly accelerate this whole competition loop totally.
Speaker 1: Because and and the best thing about bitcoin, and like
Speaker 1: a lot of people say, okay, you guys are talking
Speaker 1: about this. You're talking about you know, the world getting
Speaker 1: on a bitcoin standard and all this sort of stuff,
Speaker 1: It's like this is bitcoin is inevitable. Both it's discovery
Speaker 1: and both. It's um, it's a ultimate supremacy, right, it's
Speaker 1: inevitable in the same way as jumping off a cliff
Speaker 1: and dying because gravity caught up is also inevitable. Right.
Speaker 1: Like we may think in the early seconds of jumping
Speaker 1: off a cliff that we're flying m but then you know,
Speaker 1: gravity takes hold and we realize that we can't fly.
Speaker 1: Um And and that's basically Bitcoin's progression. But on a
Speaker 1: generational time frame. Um, you know, in in the short term,
Speaker 1: we might think, how are we going to overwhelm this?
Speaker 1: But you know, bitcoin is physics, Bitcoin is mathematics. You know,
Speaker 1: bitcoin is raw energy. And the government and the central
Speaker 1: banks and the institutions that we have today are just
Speaker 1: fantasies that they're just made up things that you know,
Speaker 1: as I said, like the CPI model is a perfect example.
Speaker 1: It's just something that we just made up and we
Speaker 1: just change it because when reality tells us it's not
Speaker 1: the case, we're like, oh yeah, I just ignore that
Speaker 1: and just like change it. You know, change is variable,
Speaker 1: and then you know we just kind of add a
Speaker 1: bit more lipstick to the pig, and you know, we
Speaker 1: think it's beautiful. Right. So bitcoin is going to win,
Speaker 1: So it's inevitable in that sense. So what that means is,
Speaker 1: as that reality manifests, those who hold the bitcoin are
Speaker 1: those who hold the ultimate vote, and those who hold
Speaker 1: the ultimate vote are those who dictate the way decisions,
Speaker 1: products and services get made. And this thing changes the
Speaker 1: entire game. Man Like the current game, all decision making
Speaker 1: is dictated and and all incentives are dictated by those
Speaker 1: who pay for their own vote, which are the existing institutions.
Speaker 1: Bitcoin swaps it and places it into the hands of
Speaker 1: the Bitcoin holders, and that's a very different looking world
Speaker 1: than what we have today. Yeah, And the other thing
Speaker 1: that I love about I've been I've been reading a
Speaker 1: lot on Schnischev, who wrote you know, the good leg
Speaker 1: Acapelos and then also have All which I forget the
Speaker 1: name of the book, but he he was the one
Speaker 1: that was like the Yugoslavian president and that both of
Speaker 1: them were writing and instrumental in the in the fall
Speaker 1: of the USSR. And they talked about how when you're
Speaker 1: when you're stuck living in a lie so in a
Speaker 1: system that you don't believe, in a system that you
Speaker 1: don't like, being forced to do things you don't like
Speaker 1: to do et cetera. When you're forced to live in
Speaker 1: that lie, you can't change it through political means, they said, Um,
Speaker 1: and so the political system is captured, control whatever. And
Speaker 1: they said, what the only thing that you can do
Speaker 1: is to go build a parallel world that you can
Speaker 1: live in the truth. And so those are like black
Speaker 1: markets or grade markets. So it's like, instead of that system,
Speaker 1: I don't like that system, I'm just gonna go opt out.
Speaker 1: I'm gonna go over here. I'll build my own financial system,
Speaker 1: will go build my own education system, will go build
Speaker 1: my own health system or whatever it may be. And
Speaker 1: only really bitcoin enables us to do that. Um, you're
Speaker 1: listening to the Markma Show. We're talking about bitcoin. We're
Speaker 1: talking about how bitcoin is going to change the world.
Speaker 1: I'm in the studio with Alex Fetzki. That's Ghost of
Speaker 1: Sveetzki s V E T s K. I find them
Speaker 1: on Twitter. Um. Bitcoin is going to change the World's
Speaker 1: going to speed up the competition loop. Um, it's going
Speaker 1: to open up free speech. You vote with your money,
Speaker 1: you vote with your feet, so vote accordingly. Thanks for listening.