WEBVTT - The Mark Moss Show Oct 20, 2021 0:00:00.040 --> 0:00:02.440 All right, you are back listening to the Mark Maas Show, 0:00:02.480 --> 0:00:07.160 where I bring to the latest information on bitcoin cryptocurrencies 0:00:07.200 --> 0:00:10.239 and that the centralized revolution. I mean, I'm bringing you 0:00:10.240 --> 0:00:13.160 the information each and every week that you need to hear, 0:00:13.640 --> 0:00:17.000 so you have the edge, you have the the asymmetric 0:00:17.040 --> 0:00:20.479 information to take advantage of the asymmetric opportunity. Now, we 0:00:20.720 --> 0:00:27.840 have been talking about UM bitcoin creating equality, equality of 0:00:27.880 --> 0:00:31.480 an opportunity, and we're talking about how that can change 0:00:31.880 --> 0:00:35.839 humanity UM and so we were talking about how you know, 0:00:35.960 --> 0:00:38.400 in countries all around the world, about two billion people 0:00:38.520 --> 0:00:41.479 in the world today have no access to the banking system, 0:00:41.520 --> 0:00:43.919 to the financial system. We're talking about how and El 0:00:44.000 --> 0:00:47.920 Salvador um they are allowed. They can get permission. A 0:00:47.960 --> 0:00:51.520 lot of countries can't. They can, but it's so expensive 0:00:51.560 --> 0:00:53.080 that most of them still aren't able to do that. 0:00:53.800 --> 0:00:57.320 But now they're able to just going to their app store, 0:00:57.560 --> 0:01:01.720 download a bitcoin wallet and start transacting on the global 0:01:01.760 --> 0:01:06.319 economy in real time instantly, and so that increases the 0:01:06.360 --> 0:01:10.320 equality of an opportunity. Now, another thing is this is 0:01:10.360 --> 0:01:13.560 not just um to make people's lives in El Salvador 0:01:13.640 --> 0:01:17.640 better or whatever country. This is better for the whole world. 0:01:18.120 --> 0:01:21.640 Think about it, like, how does progress happen? Like, um, 0:01:21.680 --> 0:01:25.839 you know, new inventions, new technologies, new medicines, things like that. Well, 0:01:26.800 --> 0:01:31.920 it starts with people being creative, coming up with new ideas, UM, 0:01:32.000 --> 0:01:35.600 new solutions, UM, trying those out, failing a whole bunch, 0:01:36.040 --> 0:01:39.520 trying even more, and eventually they come up with new things, 0:01:39.520 --> 0:01:43.160 new ideas. Now, the more people we have looking at problems, 0:01:43.160 --> 0:01:46.080 the more potential solutions will have. This is a big 0:01:46.080 --> 0:01:49.600 problem that we have in the world today, where we're um, 0:01:50.600 --> 0:01:53.400 how should I say this? Uh, part of culture will 0:01:53.440 --> 0:01:56.440 say that. Part of culture wants everybody to be the same. 0:01:56.680 --> 0:01:59.360 Everybody should be the same, everybody should be equal, we 0:01:59.400 --> 0:02:01.520 should all we should censor all the stuff that we 0:02:01.560 --> 0:02:04.160 don't like to hear. Um, you're not allowed to say this. Oh, 0:02:04.240 --> 0:02:07.120 you can't say that, don't discuss this, um, and things 0:02:07.120 --> 0:02:09.400 like that. And so they're trying to make everybody the 0:02:09.440 --> 0:02:12.880 same equality of an outcome. And that's a serious problem, 0:02:13.040 --> 0:02:16.639 a very very very serious problem. Now you might think 0:02:16.639 --> 0:02:18.680 in the short term that's good because people don't see 0:02:18.800 --> 0:02:21.480 say mean things that might offend you, But think about 0:02:21.520 --> 0:02:23.680 how bad that is in the long run. So what 0:02:23.680 --> 0:02:26.880 do I mean by that, well, um, if we're all 0:02:26.919 --> 0:02:30.040 thinking the same, doing the same things, not able to 0:02:30.160 --> 0:02:34.200 talk freely how we want, we start losing creativity and 0:02:34.240 --> 0:02:37.440 then we're not seeing problems and coming up with new 0:02:37.520 --> 0:02:41.120 solutions to that. That is a big problem. So as 0:02:41.200 --> 0:02:44.560 individuals were different, I'm a different than you, You're different 0:02:44.560 --> 0:02:46.320 than me. And what that means is that when we 0:02:46.400 --> 0:02:49.919 both look at the same thing, we actually see different things. 0:02:50.919 --> 0:02:54.880 We see different outcomes or different you know, different solutions 0:02:54.880 --> 0:02:56.480 that So if we both look at a problem, I 0:02:56.560 --> 0:02:58.359 might try to solve it one way, you might try 0:02:58.360 --> 0:03:01.240 to solve it another. And that's an important thing because 0:03:01.240 --> 0:03:04.240 we need as many people as we can looking at 0:03:04.280 --> 0:03:06.760 all the problems that we have and trying to solve 0:03:06.760 --> 0:03:08.880 them as fast as we can. So I think it 0:03:08.919 --> 0:03:12.560 probably makes pretty simple sense that the more people we 0:03:12.639 --> 0:03:15.880 have looking at problems and trying to solve them, the 0:03:15.919 --> 0:03:18.760 more solutions, the more progress that will have. And so 0:03:19.120 --> 0:03:22.160 right now, we have about half the adults in the 0:03:22.200 --> 0:03:24.360 world have no access to the financial system. They're not 0:03:24.440 --> 0:03:26.799 in the system. About half of the half the world 0:03:26.840 --> 0:03:29.400 also has no access to the internet. So imagine if 0:03:29.440 --> 0:03:33.240 we can bring half of the world onto the global 0:03:33.360 --> 0:03:37.720 system to start trying to solve more problems, to try 0:03:37.720 --> 0:03:41.560 to create more jobs, to create more businesses. Imagine how 0:03:41.760 --> 0:03:46.080 much more progress this world could have. Imagine the net 0:03:46.120 --> 0:03:49.200 gain for humanity that will come from this, as opposed 0:03:49.200 --> 0:03:52.080 to UM, the financial system that we have today that 0:03:52.160 --> 0:03:56.680 continually pushes more and more and more people out of it. UM. 0:03:56.720 --> 0:03:59.920 It's not inclusive, it's not driving any form of equal 0:04:00.200 --> 0:04:01.960 So this is a big deal. UM. And so we're 0:04:02.000 --> 0:04:04.920 seeing countries doing this, like I said, El Salvador, Brazil 0:04:05.760 --> 0:04:07.760 and a lot of these poor countries that don't have 0:04:07.880 --> 0:04:10.800 a lot to lose are jumping on board with that. 0:04:10.920 --> 0:04:14.200 And we're seeing that happen UM. And it's not just 0:04:14.520 --> 0:04:17.240 UM these third world countries that are really really warming 0:04:17.279 --> 0:04:20.360 up to bitcoin, even in the United States. UM. An 0:04:20.360 --> 0:04:23.000 earlier session, I was talking about how, you know, one 0:04:23.040 --> 0:04:25.960 of the biggest objections that I hear about bitcoin or 0:04:25.960 --> 0:04:30.159 any cryptocurrency for that matter, is people say, ah, yeah, fine, whatever, 0:04:30.200 --> 0:04:32.120 but you know, the government's gonna make it illegal. And 0:04:32.160 --> 0:04:35.800 that's typically probably the biggest thing that I hear. UM. 0:04:35.920 --> 0:04:38.320 I have many reasons why I don't think that's the case, 0:04:38.880 --> 0:04:42.480 but most recently they told us. You know what do 0:04:42.520 --> 0:04:45.000 I mean by that? So we had Jerome Powell, who's 0:04:45.040 --> 0:04:47.159 the chair of the Federal Reserve, and we had Gary 0:04:47.200 --> 0:04:50.440 Ginsler that of the SEC. Both said they won't make 0:04:50.520 --> 0:04:54.520 it illegal because I told us on top of that, UM, 0:04:54.560 --> 0:04:56.680 I don't think they could even if they wanted to. 0:04:57.240 --> 0:05:01.360 And that's because the level of in Frenchment that we've made. 0:05:01.400 --> 0:05:04.840 It's what do I mean by that? Well, now today 0:05:04.880 --> 0:05:09.119 we have dozens and dozens of senators and congress people 0:05:09.480 --> 0:05:13.880 and regulators that own bitcoin. They own it, their fans, 0:05:14.520 --> 0:05:17.279 they promote, they talk about it openly. UM. In addition 0:05:17.320 --> 0:05:20.200 to that, we have all the major financial institutions of 0:05:20.240 --> 0:05:23.160 the United States has also jumped on board. So from 0:05:23.200 --> 0:05:27.000 Goldman Sachs to Fidelity, the largest money manager, New York 0:05:27.000 --> 0:05:30.479 Stock Exchange, you name it, they've all built out UM 0:05:30.520 --> 0:05:34.919 services to be in bitcoin. Now, if you understand anything 0:05:34.960 --> 0:05:37.360 about how laws are made in the United States, then 0:05:37.400 --> 0:05:41.680 you'll understand pretty quickly that one the laws, or I 0:05:41.680 --> 0:05:45.400 should say, the bills that gets submitted, aren't written by 0:05:45.880 --> 0:05:49.279 by the by the by the congressmen and senators. They're 0:05:49.279 --> 0:05:52.760 not written by them. They're typically written by lobbyists and 0:05:52.760 --> 0:05:55.760 then given the congressmen for them to sponsor the bill. 0:05:56.480 --> 0:06:02.880 So who are the lobbyists? Oh yeah, that's the financial companies, right. Yeah. 0:06:03.120 --> 0:06:05.159 So do you think they're gonna be writing bills and 0:06:05.200 --> 0:06:08.839 trying to get Congressmen to UM sponsor those bills that 0:06:08.839 --> 0:06:11.560 would put them out of business, that would potentially cause 0:06:11.640 --> 0:06:15.400 them to lose hundreds of billions of dollars. I don't 0:06:15.400 --> 0:06:17.479 think that's going to happen. And so even if we 0:06:17.560 --> 0:06:20.000 had some you know, some some people in the government 0:06:20.040 --> 0:06:23.160 that wanted to make it illegal, like Rhett brad Sherman 0:06:23.200 --> 0:06:26.119 from California, who has been pretty outspoken about it. UM, 0:06:26.160 --> 0:06:28.320 he's going to face a lot of opposition, not just 0:06:28.400 --> 0:06:32.440 from other Congressmen and senators, but from the biggest lobbying groups, 0:06:32.440 --> 0:06:35.320 the financial services. UM. So that's one thing. Another thing 0:06:35.360 --> 0:06:39.479 I would say is that UM, obviously, UM, you know, 0:06:39.520 --> 0:06:40.840 about a year and a half ago we had the 0:06:40.839 --> 0:06:43.320 pandemic and the whole economy shutdown. You're well aware of 0:06:43.320 --> 0:06:46.360 all of that. You're also well aware that businesses were 0:06:46.400 --> 0:06:49.680 forced to close, businesses were forced out of business. UM. 0:06:49.720 --> 0:06:51.400 People have lost their jobs. As a matter of fact, 0:06:51.440 --> 0:06:52.880 I want to give the jobs numbers here in a 0:06:52.880 --> 0:06:56.839 little bit, um but um, the the in the US, 0:06:56.920 --> 0:06:59.200 the fellow Reserve and the government has spent about eight 0:06:59.279 --> 0:07:02.039 trillion dollars in the last year and a half, eight 0:07:02.360 --> 0:07:06.880 trillion dollars to keep the markets from crashing. Let me 0:07:06.920 --> 0:07:08.919 let me just put that into perspective for you for 0:07:08.960 --> 0:07:12.440 a second. We throw these numbers around so big that 0:07:12.480 --> 0:07:15.120 we lose sight of how big that number is. But 0:07:15.200 --> 0:07:17.200 in two thousand and eight, when we had the Great 0:07:17.280 --> 0:07:19.840 financial crash, if you remember that, right, the great one, 0:07:19.960 --> 0:07:23.000 the Great financial crash, literally the crash that was going 0:07:23.040 --> 0:07:27.040 to crash the entire global banking system. It was that big, 0:07:27.240 --> 0:07:30.360 that bad. At that time, the United States government stepped 0:07:30.400 --> 0:07:33.440 in to bell out the banks with a seven hundred 0:07:33.640 --> 0:07:39.680 billion dollar part loan. So when the entire global banking 0:07:39.760 --> 0:07:42.680 system was going to collapse, it took seven hundred billion 0:07:42.760 --> 0:07:44.640 to prop it up, and they ended up they ended 0:07:44.680 --> 0:07:46.680 up going over a trillion bibo seven done. But let's 0:07:46.680 --> 0:07:51.200 just call it one trillion. Okay. Now we're saying spent 0:07:51.560 --> 0:07:54.960 eight trillion in the last year and a half, eight 0:07:55.560 --> 0:07:58.560 eight times more, all right, So let me just let 0:07:58.600 --> 0:08:01.120 they just puts into perspective. So if they've gone that 0:08:01.280 --> 0:08:04.360 far to spend eight trillion dollars to keep the global 0:08:04.400 --> 0:08:08.200 markets from crashing. Why would they go make it illegal 0:08:08.320 --> 0:08:11.640 now and literally sucked trillions of dollars out of the 0:08:11.640 --> 0:08:14.920 market and crash it like they wouldn't They can't, they 0:08:14.960 --> 0:08:17.600 would They would completely wipe it now unless they wanted to. 0:08:18.080 --> 0:08:20.440 But if they wanted to crash it, then why would 0:08:20.480 --> 0:08:22.520 they have just spent eight trillion dollars to keep it 0:08:22.520 --> 0:08:26.160 from crashing? They would have just let it crash, right, So, um, 0:08:26.200 --> 0:08:28.880 I don't think they will. Now. On top of that, 0:08:28.920 --> 0:08:32.880 when I talk about wiping out the money, the United 0:08:33.000 --> 0:08:42.440 States has become the largest UM bitcoin and cryptocurrency center 0:08:42.800 --> 0:08:46.080 in the world, the largest. Now you may not know 0:08:46.160 --> 0:08:48.280 what's happened over the last couple of months, but something 0:08:48.320 --> 0:08:52.160 has been going on behind the scenes, almost quietly, that 0:08:52.440 --> 0:08:56.800 literally has reshaped the entire global world the map for 0:08:56.960 --> 0:09:01.120 who controls bitcoin and cryptocurrencies UM and so if you 0:09:01.360 --> 0:09:03.880 understand that, I think that will help give you a 0:09:03.960 --> 0:09:07.640 much clear picture of where this is going. Now. By 0:09:07.679 --> 0:09:09.800 the way, you're listening to the Mark ma Show, where 0:09:09.800 --> 0:09:12.960 I bring to you the latest information on bitcoin cryptocurrencies, 0:09:12.960 --> 0:09:16.680 and of course this decentralized revolution that we're living through. 0:09:17.040 --> 0:09:21.000 This is literally going to change the way the world works, 0:09:21.040 --> 0:09:24.480 change humanity, the future of humanity. This is not just 0:09:24.720 --> 0:09:28.680 another cool little fad or technology. It's a revolution. And 0:09:29.000 --> 0:09:31.200 if you want to take advantage of the greatest wealth 0:09:31.240 --> 0:09:34.240 transfer that we've ever witnessed, then you have to take 0:09:34.480 --> 0:09:36.959 part of this revolution that's building. And the best way 0:09:37.000 --> 0:09:38.360 to do that, to have your edge is to have 0:09:38.440 --> 0:09:40.800 this information most don't have. So you're listening to the 0:09:40.840 --> 0:09:43.600 Markma Show. I'm gonna be right back with more. All right, 0:09:43.640 --> 0:09:45.880 welcome back. You are listening to the Mark Ma Show, 0:09:45.880 --> 0:09:49.160 where I bring to you the latest on bitcoin, cryptocurrencies, 0:09:49.160 --> 0:09:54.160 and of course the decentralized revolution leading to the great 0:09:54.280 --> 0:09:57.160 wealth transfer, the biggest opportunity that you will ever see 0:09:57.200 --> 0:10:00.240 in your lifetime and probably multiple lifetimes for that at her. 0:10:00.679 --> 0:10:02.760 The way to participate in it is to have the 0:10:02.800 --> 0:10:05.160 information that most people don't have, which is why I 0:10:05.240 --> 0:10:07.880 bring it to you each and every week. So make 0:10:07.880 --> 0:10:10.280 sure pull out your phone, put a calendar reminder, tune 0:10:10.320 --> 0:10:11.960 in with me each and every week on this station 0:10:12.040 --> 0:10:14.920 so you do not miss it. I mean seriously, not 0:10:15.000 --> 0:10:18.000 to be over the top, but literally one little piece 0:10:18.040 --> 0:10:22.200 of information could change everything for you. All right. Now, 0:10:22.280 --> 0:10:25.280 by the way, follow me on Twitter one Mark Moss. 0:10:25.320 --> 0:10:28.280 I'm at one Mark Moss. Send me a tweet, tweet 0:10:28.320 --> 0:10:29.880 at me. Tell me you listen to me on the show. 0:10:29.880 --> 0:10:31.679 Asked me a question, I'll make sure to answer it 0:10:31.880 --> 0:10:34.920 on the show next week. So pull out your phone. 0:10:34.960 --> 0:10:37.720 Follow me on Twitter at one Mark Moss. Now before 0:10:37.720 --> 0:10:40.960 the break, we were just talking about, uh, lots of things. 0:10:40.960 --> 0:10:42.760 We've been covering a lot of ground here, which is 0:10:42.760 --> 0:10:45.040 why you gotta set the calendar reminder, you know with me. 0:10:45.360 --> 0:10:50.199 But we're talking about, UM, how the level of entrenchment 0:10:50.280 --> 0:10:52.280 of bitcoin in the United States has gotten to a 0:10:52.320 --> 0:10:54.400 point where they just they can't make it legal. They 0:10:54.440 --> 0:10:57.840 literally have told us that they won't as well. UM 0:10:57.920 --> 0:11:00.480 and UM, something I was I was, I was hinting 0:11:00.559 --> 0:11:03.360 towards something big happened over the last couple of months. 0:11:03.840 --> 0:11:06.840 UM that really has seem into the United States position 0:11:07.120 --> 0:11:11.040 in the world in bitcoin. And what I'm talking about 0:11:11.160 --> 0:11:14.040 is UM. Well, earlier I said that probably the biggest 0:11:14.600 --> 0:11:18.640 UH complaint, the biggest thing that I hear about bitcoin 0:11:18.800 --> 0:11:20.719 is that they're going to make it illegal. Okay, So 0:11:20.760 --> 0:11:22.760 that's number one. But we just we just answered that one. 0:11:23.160 --> 0:11:27.480 The second one is that, yeah, but China controls it all, right, China, 0:11:27.600 --> 0:11:31.240 China controls all the mining, right, they control the network, etcetera. Well, 0:11:31.240 --> 0:11:34.400 I've always said that that that's not actually true because 0:11:34.440 --> 0:11:37.600 the miners don't actually control the network. It's actually those 0:11:37.640 --> 0:11:40.520 who run the database, which are the nodes. Um. But 0:11:40.520 --> 0:11:45.240 but anyway, UM, China did have over fifty one of 0:11:45.280 --> 0:11:48.240 the mining capacity. Now, UM, I don't want to get 0:11:48.280 --> 0:11:50.120 super deep into the technical side of it, but let 0:11:50.120 --> 0:11:52.200 me just explain to you what that means real quickly. 0:11:52.440 --> 0:11:54.080 I don't want to get deep into the technical side 0:11:54.080 --> 0:11:56.920 because I don't think it matters. I don't know that's 0:11:56.920 --> 0:11:59.880 the blunt statement to say. But you are listening to 0:12:00.040 --> 0:12:03.200 me right now on the radio. How is it that 0:12:03.400 --> 0:12:06.440 my voice is getting through whatever this mike is on 0:12:06.480 --> 0:12:09.600 my desk and going through some wires on my internet 0:12:09.679 --> 0:12:11.760 right now, and then going through some radio waves and 0:12:11.760 --> 0:12:13.920 then somehow hitting you in your car or wherever you're 0:12:13.920 --> 0:12:16.440 at listening to me. How does that work? You have 0:12:16.520 --> 0:12:19.160 no idea need to do I and I don't need 0:12:19.240 --> 0:12:21.800 to know how that works. What I need to know 0:12:21.880 --> 0:12:24.680 is that the radio is a very valuable tool to 0:12:24.720 --> 0:12:27.080 get me information. So I do know that, so I 0:12:27.120 --> 0:12:29.520 know that I need the radio, I use the radio. 0:12:29.800 --> 0:12:32.920 I don't know exactly how it works, and bitcoin could 0:12:32.920 --> 0:12:34.640 be the same way. It's very important for you to 0:12:34.720 --> 0:12:39.040 understand the problems that it's solving. Um, you know, potentially 0:12:39.080 --> 0:12:40.640 where it could go, how it could change things, how 0:12:40.640 --> 0:12:42.480 could fix things, etcetera. It's important for you to know 0:12:42.559 --> 0:12:46.880 that the why the why about bitcoin. The what isn't 0:12:46.920 --> 0:12:48.840 so important in my opinion. Now some people are just 0:12:48.920 --> 0:12:52.280 tech tech eas um maybe tech nerds. Sorry if that 0:12:52.320 --> 0:12:54.880 offends you, tech ease and you want to figure that out, 0:12:54.880 --> 0:12:57.160 and that's great, and there's there's plenty of resources for 0:12:57.200 --> 0:12:59.000 you to do that. But I'm not going to dive 0:12:59.000 --> 0:13:01.840 into that on this call right now. UM, But back 0:13:01.880 --> 0:13:04.559 to um, just just to give you a high level 0:13:04.640 --> 0:13:07.760 view the way the bitcoin network works is the bitcoin 0:13:07.840 --> 0:13:11.040 network itself, first of all, is a bunch of things. Um. 0:13:11.080 --> 0:13:14.480 It's like a digital cash or it's like a digital gold. Okay, sure, UM, 0:13:14.480 --> 0:13:16.559 it's it's it's so much more than that one thing 0:13:16.600 --> 0:13:18.880 that we do know for sure, because we don't know 0:13:18.920 --> 0:13:20.760 all the things that will become in the future as 0:13:20.760 --> 0:13:23.800 a new technology. One thing we do know for sure 0:13:24.280 --> 0:13:29.120 is it's the most secure computer network in the history 0:13:29.160 --> 0:13:33.959 of the world. Period mic drop. That's it, the most 0:13:34.200 --> 0:13:37.080 secure computer network in the history of the world. Mic 0:13:37.160 --> 0:13:40.120 drop boom. Let me tell you what that means. So 0:13:40.360 --> 0:13:44.000 you're probably aware. It's been all over the news lately. Uh, 0:13:44.040 --> 0:13:48.520 cyber attacks, cyber pandemics, all these things, right, ransomware attacks. UM, 0:13:48.559 --> 0:13:51.600 the Internet's under attack. It's a dangerous place. That's all 0:13:51.640 --> 0:13:54.679 part of the World Economics Forum trying to lead us 0:13:54.720 --> 0:13:57.360 into this global ID system that they're that they want 0:13:57.400 --> 0:14:01.120 to enact. UM. But we're seeing the attacks happening all 0:14:01.160 --> 0:14:04.120 the time. And when he saw Experience is hacked one 0:14:04.160 --> 0:14:08.600 of the credit bureaus, and more Americans information got leaked 0:14:08.600 --> 0:14:10.680 and stolen onto the web than ever before. From the 0:14:10.720 --> 0:14:15.760 Experience act UM, we saw even the n s A, 0:14:16.920 --> 0:14:19.040 then the n s A of the United States, the 0:14:19.120 --> 0:14:23.640 National Security Uh oh uh, shoot, I don't even know 0:14:23.640 --> 0:14:27.440 what it stands for. UM's the n s A were hacked. 0:14:28.320 --> 0:14:31.160 And when they hacked the n s A, what did 0:14:31.200 --> 0:14:35.280 they take? Oh, they hacked, they hacked the n s A, 0:14:35.480 --> 0:14:40.160 and they stole their hacking software. The National Security Agency. Sorry, 0:14:40.280 --> 0:14:44.480 so the national level intelligence of the United States, the 0:14:44.520 --> 0:14:47.480 Department of Defense, under the authority of the Director of 0:14:47.520 --> 0:14:51.320 the National Intelligence. The n s A is responsible for 0:14:51.440 --> 0:14:57.120 global monitoring, collecting, and processing of information and data for 0:14:57.120 --> 0:15:03.400 foreign and domestic intelligence and unenter intelligence purposes. Okay, talk 0:15:03.440 --> 0:15:05.720 about the National Security Agency, the n s A. They 0:15:05.720 --> 0:15:07.720 were hacked, and when they hacked the n s A, 0:15:07.840 --> 0:15:11.160 they took their hacking software, which has led to all 0:15:11.200 --> 0:15:13.280 these ransomware attacks that we have all the time. That's great. 0:15:13.600 --> 0:15:18.080 So if if the if the government's own agency that's 0:15:18.160 --> 0:15:23.800 responsible for national level intelligence under the Department Events cannot 0:15:23.880 --> 0:15:26.760 prevent their own network from being hacked, how is any 0:15:26.760 --> 0:15:28.400 other network going to be able to prevent itself from 0:15:28.400 --> 0:15:31.400 being hacked. I mean, I'm talking about the most secure 0:15:31.400 --> 0:15:33.920 computer network in the world in some building with full 0:15:33.960 --> 0:15:36.200 time you know, security going around it, blah blah blah, 0:15:36.200 --> 0:15:40.000 and they couldn't prevent it being hacked. The bitcoin network 0:15:40.240 --> 0:15:44.640 is different. The bitcoin network has no security. It has 0:15:44.720 --> 0:15:48.480 no I T. Department, it has no building, it has 0:15:48.520 --> 0:15:53.960 no company, no no, no nothing. It's completely open source, 0:15:54.480 --> 0:15:58.680 so everybody can see the code. Everybody has access to 0:15:58.720 --> 0:16:02.560 the code. Anybody can remember we talked about the banking 0:16:02.560 --> 0:16:08.480 system being permissioned. The bitcoin network is permission lists. Anybody 0:16:08.520 --> 0:16:11.720 can join the Bitcoin network without having to get permission, 0:16:12.640 --> 0:16:17.760 like I said, So it's open, permissionless, and there's there's nobody, 0:16:17.840 --> 0:16:21.040 no building, nobody watching it. And there's as of now, 0:16:21.080 --> 0:16:25.800 there's over one trillion dollars of value sitting there in 0:16:25.840 --> 0:16:30.840 the open, unprotected. Come and get it, Come and get it. 0:16:31.360 --> 0:16:35.960 Uh alert alert alert, all hackers, come out and get 0:16:35.960 --> 0:16:38.680 the money off the bitcoin network. It's not protected. It's 0:16:38.680 --> 0:16:41.600 open source. I mean literally, they've hacked every other network, 0:16:42.040 --> 0:16:47.080 but the Bitcoin network. It's never been hacked ever and 0:16:47.120 --> 0:16:51.240 most likely never will. Now why is that? That's because 0:16:51.280 --> 0:16:55.720 it's a brand new technology that's never been done before. 0:16:55.760 --> 0:16:58.760 It's a technological revolution. And so the way that it 0:16:58.800 --> 0:17:03.440 works is that instead of having one centralized database like 0:17:03.480 --> 0:17:06.240 the n s A has, instead of having one, you 0:17:06.320 --> 0:17:11.359 have hundreds or thousands or even millions of copies of 0:17:11.400 --> 0:17:16.119 the database floating around. Um. Everybody runs the entire database 0:17:16.520 --> 0:17:19.800 right now today the database is about three hunter gigabytes UM. 0:17:19.840 --> 0:17:22.440 You run them on what's called a node. I run 0:17:22.480 --> 0:17:24.679 two nodes, one of my house in California and one 0:17:24.680 --> 0:17:27.360 of my house in Puerto Rico, and lots of other 0:17:27.400 --> 0:17:29.880 people do as well. So you have the nodes, all right, 0:17:30.359 --> 0:17:33.560 that runs the database. Now or a transaction to happen, 0:17:33.960 --> 0:17:37.280 the databases have to achieve consensus. That means more than 0:17:38.240 --> 0:17:41.800 have to agree that this transaction is valid. But how 0:17:41.800 --> 0:17:44.760 do the transactions get processed or put to the nodes? 0:17:45.200 --> 0:17:49.040 That is done by the miners. So miners are specially 0:17:49.080 --> 0:17:53.560 purpose built computers that process transactions. I don't want to 0:17:53.560 --> 0:17:54.960 go super deep into this, but I'm gonna give you 0:17:55.040 --> 0:17:56.760 just a little bit more so you have a base 0:17:56.960 --> 0:17:59.600 understanding of this, because you need to understand this to 0:17:59.720 --> 0:18:04.479 under stand how the United States just took leadership in 0:18:04.560 --> 0:18:07.320 the world. So you need to understand this. I'm gonna 0:18:07.359 --> 0:18:09.800 explain a little bit more to you. You're listening to 0:18:09.840 --> 0:18:12.200 the Mark Mos Show, where I bring to you the 0:18:12.280 --> 0:18:16.040 latest information on bitcoin, cryptocurrencies and this decentralized revolution, so 0:18:16.119 --> 0:18:18.600 you have the edge and you can participate in the 0:18:18.640 --> 0:18:22.520 greatest wealth transfer and history. I'll be right back, all right, 0:18:22.560 --> 0:18:24.840 welcome back. You are listening to the Mark Mos Show, 0:18:25.280 --> 0:18:28.639 and I'm bringing you the latest information on bitcoin cryptocurrencies, 0:18:28.680 --> 0:18:34.359 and the decentralized revolution literally leading to the biggest opportunity 0:18:34.480 --> 0:18:36.560 that you'll ever see, not just you'll ever see, but 0:18:36.800 --> 0:18:40.720 that will have been seen in multiple generations. It's that big, 0:18:40.840 --> 0:18:44.560 leading to the greatest wealth transfer in history. Now, before 0:18:44.560 --> 0:18:46.880 the break, I was talking about a little bit about 0:18:46.920 --> 0:18:48.600 the technical side. I don't want to go super deep 0:18:48.600 --> 0:18:50.920 in the technical side, but I was explaining to you 0:18:50.960 --> 0:18:55.080 that this new technological revolution Bitcoin, what is it right, Um, 0:18:55.080 --> 0:18:56.800 it's a bunch of things. But what we do know 0:18:56.880 --> 0:18:59.600 is it's the most secure computer network in the history 0:18:59.720 --> 0:19:02.680 of a world. While we're at a time right now 0:19:02.720 --> 0:19:05.120 where almost every other day you see a new news 0:19:05.160 --> 0:19:07.960 headline about networks being hacked. We talked about how even 0:19:08.000 --> 0:19:09.840 the n s A was hacked, which is the National 0:19:09.840 --> 0:19:13.359 Security Agency, which is the national level of intelligence for 0:19:13.400 --> 0:19:16.280 the entire United States. Even they were hacked. But yet 0:19:16.280 --> 0:19:20.119 the Bitcoin network is completely open. Um, nobody's there's no company, 0:19:20.200 --> 0:19:22.680 no one monitoring it, no one and protecting it. But yeah, 0:19:22.680 --> 0:19:24.720 it's never been hacked. And the reason why is because 0:19:24.760 --> 0:19:29.240 the database is decentralized, meaning instead of having one centralized 0:19:29.280 --> 0:19:31.720 database like the NSA has or like Facebook has, instead 0:19:31.720 --> 0:19:35.200 of one there's a million or whatever hundreds of thousands 0:19:35.200 --> 0:19:38.600 of databases running all around the world, and so they 0:19:38.640 --> 0:19:42.680 have to achieve consensus in order to verify a transaction. 0:19:43.000 --> 0:19:45.880 But how do the transactions get put up to the nodes. Well, 0:19:45.960 --> 0:19:49.439 that's being done through miners. So a minor is like 0:19:49.560 --> 0:19:54.160 a as a specialty built especially purpose built computer UM 0:19:54.320 --> 0:19:58.160 that can hook into the network and help process transactions. Now, 0:19:58.160 --> 0:20:00.240 remember if you're with me before the break, I said 0:20:00.280 --> 0:20:04.120 that Bitcoin is open, and it's that means anybody can 0:20:04.160 --> 0:20:05.920 have access to the code, see what's happened on the code. 0:20:05.920 --> 0:20:10.120 It's also permission lists, so the banking system is permissioned, 0:20:10.160 --> 0:20:12.879 which is why most people can't get into it. Facebook 0:20:12.920 --> 0:20:14.959 is permission You have to have permission to join it 0:20:15.240 --> 0:20:17.399 and they don't even barely give you any a p 0:20:17.520 --> 0:20:19.119 I S if you want to connect anything to it. 0:20:19.320 --> 0:20:23.080 But the Bitcoin network is open and permission list. Anybody 0:20:23.119 --> 0:20:25.320 can just join, anybody can see the code, anybody can 0:20:25.320 --> 0:20:27.960 start building right on top of Bitcoin. And yet it's 0:20:27.960 --> 0:20:31.520 never been hacked. And so the miners. Anybody could buy 0:20:31.640 --> 0:20:33.879 a computer, a mining computer, and you could hook it 0:20:33.920 --> 0:20:35.800 to the network and you could just start mining. No 0:20:36.080 --> 0:20:41.159 permission is required now in exchange for helping process transactions 0:20:41.160 --> 0:20:44.400 on the bitcoin network, you earn rewards, right, you get 0:20:44.400 --> 0:20:46.919 paid for that. It costs money to buy the minor, 0:20:47.160 --> 0:20:50.159 to buy the computer, it cost money to buy the 0:20:50.200 --> 0:20:53.399 electricity to mind to power the minor, and so in 0:20:53.520 --> 0:20:57.360 return you earn a reward. UM. You make money back UM. 0:20:57.640 --> 0:21:01.840 And you earn rewards two ways. The first way is 0:21:01.880 --> 0:21:04.120 through block rewards. And so what that means is that 0:21:04.200 --> 0:21:08.679 for UM, the more UM, the more blocks. So the 0:21:08.760 --> 0:21:12.320 more let's just call it, the more processing that we 0:21:12.359 --> 0:21:15.960 do on the network, UM, we unlock new bitcoins, new 0:21:16.000 --> 0:21:18.680 new coins, new rewards. There's about as of right now, 0:21:18.720 --> 0:21:25.200 there's nine hundred new bitcoin unlocked every day. UM. That 0:21:25.280 --> 0:21:29.239 amount gets cut in half every four years. So the 0:21:29.320 --> 0:21:33.119 last we call it a having was was May, and 0:21:33.160 --> 0:21:35.040 the next one happens in four years from that date, 0:21:35.080 --> 0:21:40.119 so and that will go from nine hundred down to 0:21:40.160 --> 0:21:44.080 about four bitcoin per day. So UM. The miners are 0:21:44.080 --> 0:21:47.360 earning rewards two ways, one unlocking new coins and two 0:21:47.920 --> 0:21:51.080 they earn a percentage of the fees for processing the 0:21:51.119 --> 0:21:54.480 transactions now UM back to the minors. So the miners 0:21:54.680 --> 0:21:56.640 are the ones that process these these things and earn 0:21:56.640 --> 0:22:01.239 the rewards, and so over fifty about approximately, even if 0:22:01.280 --> 0:22:04.119