Speaker 1: All right, you are back listening to the Mark Maas Show,
Speaker 1: where I bring to the latest information on bitcoin cryptocurrencies
Speaker 1: and that the centralized revolution. I mean, I'm bringing you
Speaker 1: the information each and every week that you need to hear,
Speaker 1: so you have the edge, you have the the asymmetric
Speaker 1: information to take advantage of the asymmetric opportunity. Now, we
Speaker 1: have been talking about UM bitcoin creating equality, equality of
Speaker 1: an opportunity, and we're talking about how that can change
Speaker 1: humanity UM and so we were talking about how you know,
Speaker 1: in countries all around the world, about two billion people
Speaker 1: in the world today have no access to the banking system,
Speaker 1: to the financial system. We're talking about how and El
Speaker 1: Salvador um they are allowed. They can get permission. A
Speaker 1: lot of countries can't. They can, but it's so expensive
Speaker 1: that most of them still aren't able to do that.
Speaker 1: But now they're able to just going to their app store,
Speaker 1: download a bitcoin wallet and start transacting on the global
Speaker 1: economy in real time instantly, and so that increases the
Speaker 1: equality of an opportunity. Now, another thing is this is
Speaker 1: not just um to make people's lives in El Salvador
Speaker 1: better or whatever country. This is better for the whole world.
Speaker 1: Think about it, like, how does progress happen? Like, um,
Speaker 1: you know, new inventions, new technologies, new medicines, things like that. Well,
Speaker 1: it starts with people being creative, coming up with new ideas, UM,
Speaker 1: new solutions, UM, trying those out, failing a whole bunch,
Speaker 1: trying even more, and eventually they come up with new things,
Speaker 1: new ideas. Now, the more people we have looking at problems,
Speaker 1: the more potential solutions will have. This is a big
Speaker 1: problem that we have in the world today, where we're um,
Speaker 1: how should I say this? Uh, part of culture will
Speaker 1: say that. Part of culture wants everybody to be the same.
Speaker 1: Everybody should be the same, everybody should be equal, we
Speaker 1: should all we should censor all the stuff that we
Speaker 1: don't like to hear. Um, you're not allowed to say this. Oh,
Speaker 1: you can't say that, don't discuss this, um, and things
Speaker 1: like that. And so they're trying to make everybody the
Speaker 1: same equality of an outcome. And that's a serious problem,
Speaker 1: a very very very serious problem. Now you might think
Speaker 1: in the short term that's good because people don't see
Speaker 1: say mean things that might offend you, But think about
Speaker 1: how bad that is in the long run. So what
Speaker 1: do I mean by that, well, um, if we're all
Speaker 1: thinking the same, doing the same things, not able to
Speaker 1: talk freely how we want, we start losing creativity and
Speaker 1: then we're not seeing problems and coming up with new
Speaker 1: solutions to that. That is a big problem. So as
Speaker 1: individuals were different, I'm a different than you, You're different
Speaker 1: than me. And what that means is that when we
Speaker 1: both look at the same thing, we actually see different things.
Speaker 1: We see different outcomes or different you know, different solutions
Speaker 1: that So if we both look at a problem, I
Speaker 1: might try to solve it one way, you might try
Speaker 1: to solve it another. And that's an important thing because
Speaker 1: we need as many people as we can looking at
Speaker 1: all the problems that we have and trying to solve
Speaker 1: them as fast as we can. So I think it
Speaker 1: probably makes pretty simple sense that the more people we
Speaker 1: have looking at problems and trying to solve them, the
Speaker 1: more solutions, the more progress that will have. And so
Speaker 1: right now, we have about half the adults in the
Speaker 1: world have no access to the financial system. They're not
Speaker 1: in the system. About half of the half the world
Speaker 1: also has no access to the internet. So imagine if
Speaker 1: we can bring half of the world onto the global
Speaker 1: system to start trying to solve more problems, to try
Speaker 1: to create more jobs, to create more businesses. Imagine how
Speaker 1: much more progress this world could have. Imagine the net
Speaker 1: gain for humanity that will come from this, as opposed
Speaker 1: to UM, the financial system that we have today that
Speaker 1: continually pushes more and more and more people out of it. UM.
Speaker 1: It's not inclusive, it's not driving any form of equal
Speaker 1: So this is a big deal. UM. And so we're
Speaker 1: seeing countries doing this, like I said, El Salvador, Brazil
Speaker 1: and a lot of these poor countries that don't have
Speaker 1: a lot to lose are jumping on board with that.
Speaker 1: And we're seeing that happen UM. And it's not just
Speaker 1: UM these third world countries that are really really warming
Speaker 1: up to bitcoin, even in the United States. UM. An
Speaker 1: earlier session, I was talking about how, you know, one
Speaker 1: of the biggest objections that I hear about bitcoin or
Speaker 1: any cryptocurrency for that matter, is people say, ah, yeah, fine, whatever,
Speaker 1: but you know, the government's gonna make it illegal. And
Speaker 1: that's typically probably the biggest thing that I hear. UM.
Speaker 1: I have many reasons why I don't think that's the case,
Speaker 1: but most recently they told us. You know what do
Speaker 1: I mean by that? So we had Jerome Powell, who's
Speaker 1: the chair of the Federal Reserve, and we had Gary
Speaker 1: Ginsler that of the SEC. Both said they won't make
Speaker 1: it illegal because I told us on top of that, UM,
Speaker 1: I don't think they could even if they wanted to.
Speaker 1: And that's because the level of in Frenchment that we've made.
Speaker 1: It's what do I mean by that? Well, now today
Speaker 1: we have dozens and dozens of senators and congress people
Speaker 1: and regulators that own bitcoin. They own it, their fans,
Speaker 1: they promote, they talk about it openly. UM. In addition
Speaker 1: to that, we have all the major financial institutions of
Speaker 1: the United States has also jumped on board. So from
Speaker 1: Goldman Sachs to Fidelity, the largest money manager, New York
Speaker 1: Stock Exchange, you name it, they've all built out UM
Speaker 1: services to be in bitcoin. Now, if you understand anything
Speaker 1: about how laws are made in the United States, then
Speaker 1: you'll understand pretty quickly that one the laws, or I
Speaker 1: should say, the bills that gets submitted, aren't written by
Speaker 1: by the by the by the congressmen and senators. They're
Speaker 1: not written by them. They're typically written by lobbyists and
Speaker 1: then given the congressmen for them to sponsor the bill.
Speaker 1: So who are the lobbyists? Oh yeah, that's the financial companies, right. Yeah.
Speaker 1: So do you think they're gonna be writing bills and
Speaker 1: trying to get Congressmen to UM sponsor those bills that
Speaker 1: would put them out of business, that would potentially cause
Speaker 1: them to lose hundreds of billions of dollars. I don't
Speaker 1: think that's going to happen. And so even if we
Speaker 1: had some you know, some some people in the government
Speaker 1: that wanted to make it illegal, like Rhett brad Sherman
Speaker 1: from California, who has been pretty outspoken about it. UM,
Speaker 1: he's going to face a lot of opposition, not just
Speaker 1: from other Congressmen and senators, but from the biggest lobbying groups,
Speaker 1: the financial services. UM. So that's one thing. Another thing
Speaker 1: I would say is that UM, obviously, UM, you know,
Speaker 1: about a year and a half ago we had the
Speaker 1: pandemic and the whole economy shutdown. You're well aware of
Speaker 1: all of that. You're also well aware that businesses were
Speaker 1: forced to close, businesses were forced out of business. UM.
Speaker 1: People have lost their jobs. As a matter of fact,
Speaker 1: I want to give the jobs numbers here in a
Speaker 1: little bit, um but um, the the in the US,
Speaker 1: the fellow Reserve and the government has spent about eight
Speaker 1: trillion dollars in the last year and a half, eight
Speaker 1: trillion dollars to keep the markets from crashing. Let me
Speaker 1: let me just put that into perspective for you for
Speaker 1: a second. We throw these numbers around so big that
Speaker 1: we lose sight of how big that number is. But
Speaker 1: in two thousand and eight, when we had the Great
Speaker 1: financial crash, if you remember that, right, the great one,
Speaker 1: the Great financial crash, literally the crash that was going
Speaker 1: to crash the entire global banking system. It was that big,
Speaker 1: that bad. At that time, the United States government stepped
Speaker 1: in to bell out the banks with a seven hundred
Speaker 1: billion dollar part loan. So when the entire global banking
Speaker 1: system was going to collapse, it took seven hundred billion
Speaker 1: to prop it up, and they ended up they ended
Speaker 1: up going over a trillion bibo seven done. But let's
Speaker 1: just call it one trillion. Okay. Now we're saying spent
Speaker 1: eight trillion in the last year and a half, eight
Speaker 1: eight times more, all right, So let me just let
Speaker 1: they just puts into perspective. So if they've gone that
Speaker 1: far to spend eight trillion dollars to keep the global
Speaker 1: markets from crashing. Why would they go make it illegal
Speaker 1: now and literally sucked trillions of dollars out of the
Speaker 1: market and crash it like they wouldn't They can't, they
Speaker 1: would They would completely wipe it now unless they wanted to.
Speaker 1: But if they wanted to crash it, then why would
Speaker 1: they have just spent eight trillion dollars to keep it
Speaker 1: from crashing? They would have just let it crash, right, So, um,
Speaker 1: I don't think they will. Now. On top of that,
Speaker 1: when I talk about wiping out the money, the United
Speaker 1: States has become the largest UM bitcoin and cryptocurrency center
Speaker 1: in the world, the largest. Now you may not know
Speaker 1: what's happened over the last couple of months, but something
Speaker 1: has been going on behind the scenes, almost quietly, that
Speaker 1: literally has reshaped the entire global world the map for
Speaker 1: who controls bitcoin and cryptocurrencies UM and so if you
Speaker 1: understand that, I think that will help give you a
Speaker 1: much clear picture of where this is going. Now. By
Speaker 1: the way, you're listening to the Mark ma Show, where
Speaker 1: I bring to you the latest information on bitcoin cryptocurrencies,
Speaker 1: and of course this decentralized revolution that we're living through.
Speaker 1: This is literally going to change the way the world works,
Speaker 1: change humanity, the future of humanity. This is not just
Speaker 1: another cool little fad or technology. It's a revolution. And
Speaker 1: if you want to take advantage of the greatest wealth
Speaker 1: transfer that we've ever witnessed, then you have to take
Speaker 1: part of this revolution that's building. And the best way
Speaker 1: to do that, to have your edge is to have
Speaker 1: this information most don't have. So you're listening to the
Speaker 1: Markma Show. I'm gonna be right back with more. All right,
Speaker 1: welcome back. You are listening to the Mark Ma Show,
Speaker 1: where I bring to you the latest on bitcoin, cryptocurrencies,
Speaker 1: and of course the decentralized revolution leading to the great
Speaker 1: wealth transfer, the biggest opportunity that you will ever see
Speaker 1: in your lifetime and probably multiple lifetimes for that at her.
Speaker 1: The way to participate in it is to have the
Speaker 1: information that most people don't have, which is why I
Speaker 1: bring it to you each and every week. So make
Speaker 1: sure pull out your phone, put a calendar reminder, tune
Speaker 1: in with me each and every week on this station
Speaker 1: so you do not miss it. I mean seriously, not
Speaker 1: to be over the top, but literally one little piece
Speaker 1: of information could change everything for you. All right. Now,
Speaker 1: by the way, follow me on Twitter one Mark Moss.
Speaker 1: I'm at one Mark Moss. Send me a tweet, tweet
Speaker 1: at me. Tell me you listen to me on the show.
Speaker 1: Asked me a question, I'll make sure to answer it
Speaker 1: on the show next week. So pull out your phone.
Speaker 1: Follow me on Twitter at one Mark Moss. Now before
Speaker 1: the break, we were just talking about, uh, lots of things.
Speaker 1: We've been covering a lot of ground here, which is
Speaker 1: why you gotta set the calendar reminder, you know with me.
Speaker 1: But we're talking about, UM, how the level of entrenchment
Speaker 1: of bitcoin in the United States has gotten to a
Speaker 1: point where they just they can't make it legal. They
Speaker 1: literally have told us that they won't as well. UM
Speaker 1: and UM, something I was I was, I was hinting
Speaker 1: towards something big happened over the last couple of months.
Speaker 1: UM that really has seem into the United States position
Speaker 1: in the world in bitcoin. And what I'm talking about
Speaker 1: is UM. Well, earlier I said that probably the biggest
Speaker 1: UH complaint, the biggest thing that I hear about bitcoin
Speaker 1: is that they're going to make it illegal. Okay, So
Speaker 1: that's number one. But we just we just answered that one.
Speaker 1: The second one is that, yeah, but China controls it all, right, China,
Speaker 1: China controls all the mining, right, they control the network, etcetera. Well,
Speaker 1: I've always said that that that's not actually true because
Speaker 1: the miners don't actually control the network. It's actually those
Speaker 1: who run the database, which are the nodes. Um. But
Speaker 1: but anyway, UM, China did have over fifty one of
Speaker 1: the mining capacity. Now, UM, I don't want to get
Speaker 1: super deep into the technical side of it, but let
Speaker 1: me just explain to you what that means real quickly.
Speaker 1: I don't want to get deep into the technical side
Speaker 1: because I don't think it matters. I don't know that's
Speaker 1: the blunt statement to say. But you are listening to
Speaker 1: me right now on the radio. How is it that
Speaker 1: my voice is getting through whatever this mike is on
Speaker 1: my desk and going through some wires on my internet
Speaker 1: right now, and then going through some radio waves and
Speaker 1: then somehow hitting you in your car or wherever you're
Speaker 1: at listening to me. How does that work? You have
Speaker 1: no idea need to do I and I don't need
Speaker 1: to know how that works. What I need to know
Speaker 1: is that the radio is a very valuable tool to
Speaker 1: get me information. So I do know that, so I
Speaker 1: know that I need the radio, I use the radio.
Speaker 1: I don't know exactly how it works, and bitcoin could
Speaker 1: be the same way. It's very important for you to
Speaker 1: understand the problems that it's solving. Um, you know, potentially
Speaker 1: where it could go, how it could change things, how
Speaker 1: could fix things, etcetera. It's important for you to know
Speaker 1: that the why the why about bitcoin. The what isn't
Speaker 1: so important in my opinion. Now some people are just
Speaker 1: tech tech eas um maybe tech nerds. Sorry if that
Speaker 1: offends you, tech ease and you want to figure that out,
Speaker 1: and that's great, and there's there's plenty of resources for
Speaker 1: you to do that. But I'm not going to dive
Speaker 1: into that on this call right now. UM, But back
Speaker 1: to um, just just to give you a high level
Speaker 1: view the way the bitcoin network works is the bitcoin
Speaker 1: network itself, first of all, is a bunch of things. Um.
Speaker 1: It's like a digital cash or it's like a digital gold. Okay, sure, UM,
Speaker 1: it's it's it's so much more than that one thing
Speaker 1: that we do know for sure, because we don't know
Speaker 1: all the things that will become in the future as
Speaker 1: a new technology. One thing we do know for sure
Speaker 1: is it's the most secure computer network in the history
Speaker 1: of the world. Period mic drop. That's it, the most
Speaker 1: secure computer network in the history of the world. Mic
Speaker 1: drop boom. Let me tell you what that means. So
Speaker 1: you're probably aware. It's been all over the news lately. Uh,
Speaker 1: cyber attacks, cyber pandemics, all these things, right, ransomware attacks. UM,
Speaker 1: the Internet's under attack. It's a dangerous place. That's all
Speaker 1: part of the World Economics Forum trying to lead us
Speaker 1: into this global ID system that they're that they want
Speaker 1: to enact. UM. But we're seeing the attacks happening all
Speaker 1: the time. And when he saw Experience is hacked one
Speaker 1: of the credit bureaus, and more Americans information got leaked
Speaker 1: and stolen onto the web than ever before. From the
Speaker 1: Experience act UM, we saw even the n s A,
Speaker 1: then the n s A of the United States, the
Speaker 1: National Security Uh oh uh, shoot, I don't even know
Speaker 1: what it stands for. UM's the n s A were hacked.
Speaker 1: And when they hacked the n s A, what did
Speaker 1: they take? Oh, they hacked, they hacked the n s A,
Speaker 1: and they stole their hacking software. The National Security Agency. Sorry,
Speaker 1: so the national level intelligence of the United States, the
Speaker 1: Department of Defense, under the authority of the Director of
Speaker 1: the National Intelligence. The n s A is responsible for
Speaker 1: global monitoring, collecting, and processing of information and data for
Speaker 1: foreign and domestic intelligence and unenter intelligence purposes. Okay, talk
Speaker 1: about the National Security Agency, the n s A. They
Speaker 1: were hacked, and when they hacked the n s A,
Speaker 1: they took their hacking software, which has led to all
Speaker 1: these ransomware attacks that we have all the time. That's great.
Speaker 1: So if if the if the government's own agency that's
Speaker 1: responsible for national level intelligence under the Department Events cannot
Speaker 1: prevent their own network from being hacked, how is any
Speaker 1: other network going to be able to prevent itself from
Speaker 1: being hacked. I mean, I'm talking about the most secure
Speaker 1: computer network in the world in some building with full
Speaker 1: time you know, security going around it, blah blah blah,
Speaker 1: and they couldn't prevent it being hacked. The bitcoin network
Speaker 1: is different. The bitcoin network has no security. It has
Speaker 1: no I T. Department, it has no building, it has
Speaker 1: no company, no no, no nothing. It's completely open source,
Speaker 1: so everybody can see the code. Everybody has access to
Speaker 1: the code. Anybody can remember we talked about the banking
Speaker 1: system being permissioned. The bitcoin network is permission lists. Anybody
Speaker 1: can join the Bitcoin network without having to get permission,
Speaker 1: like I said, So it's open, permissionless, and there's there's nobody,
Speaker 1: no building, nobody watching it. And there's as of now,
Speaker 1: there's over one trillion dollars of value sitting there in
Speaker 1: the open, unprotected. Come and get it, Come and get it.
Speaker 1: Uh alert alert alert, all hackers, come out and get
Speaker 1: the money off the bitcoin network. It's not protected. It's
Speaker 1: open source. I mean literally, they've hacked every other network,
Speaker 1: but the Bitcoin network. It's never been hacked ever and
Speaker 1: most likely never will. Now why is that? That's because
Speaker 1: it's a brand new technology that's never been done before.
Speaker 1: It's a technological revolution. And so the way that it
Speaker 1: works is that instead of having one centralized database like
Speaker 1: the n s A has, instead of having one, you
Speaker 1: have hundreds or thousands or even millions of copies of
Speaker 1: the database floating around. Um. Everybody runs the entire database
Speaker 1: right now today the database is about three hunter gigabytes UM.
Speaker 1: You run them on what's called a node. I run
Speaker 1: two nodes, one of my house in California and one
Speaker 1: of my house in Puerto Rico, and lots of other
Speaker 1: people do as well. So you have the nodes, all right,
Speaker 1: that runs the database. Now or a transaction to happen,
Speaker 1: the databases have to achieve consensus. That means more than
Speaker 1: have to agree that this transaction is valid. But how
Speaker 1: do the transactions get processed or put to the nodes?
Speaker 1: That is done by the miners. So miners are specially
Speaker 1: purpose built computers that process transactions. I don't want to
Speaker 1: go super deep into this, but I'm gonna give you
Speaker 1: just a little bit more so you have a base
Speaker 1: understanding of this, because you need to understand this to
Speaker 1: under stand how the United States just took leadership in
Speaker 1: the world. So you need to understand this. I'm gonna
Speaker 1: explain a little bit more to you. You're listening to
Speaker 1: the Mark Mos Show, where I bring to you the
Speaker 1: latest information on bitcoin, cryptocurrencies and this decentralized revolution, so
Speaker 1: you have the edge and you can participate in the
Speaker 1: greatest wealth transfer and history. I'll be right back, all right,
Speaker 1: welcome back. You are listening to the Mark Mos Show,
Speaker 1: and I'm bringing you the latest information on bitcoin cryptocurrencies,
Speaker 1: and the decentralized revolution literally leading to the biggest opportunity
Speaker 1: that you'll ever see, not just you'll ever see, but
Speaker 1: that will have been seen in multiple generations. It's that big,
Speaker 1: leading to the greatest wealth transfer in history. Now, before
Speaker 1: the break, I was talking about a little bit about
Speaker 1: the technical side. I don't want to go super deep
Speaker 1: in the technical side, but I was explaining to you
Speaker 1: that this new technological revolution Bitcoin, what is it right, Um,
Speaker 1: it's a bunch of things. But what we do know
Speaker 1: is it's the most secure computer network in the history
Speaker 1: of a world. While we're at a time right now
Speaker 1: where almost every other day you see a new news
Speaker 1: headline about networks being hacked. We talked about how even
Speaker 1: the n s A was hacked, which is the National
Speaker 1: Security Agency, which is the national level of intelligence for
Speaker 1: the entire United States. Even they were hacked. But yet
Speaker 1: the Bitcoin network is completely open. Um, nobody's there's no company,
Speaker 1: no one monitoring it, no one and protecting it. But yeah,
Speaker 1: it's never been hacked. And the reason why is because
Speaker 1: the database is decentralized, meaning instead of having one centralized
Speaker 1: database like the NSA has or like Facebook has, instead
Speaker 1: of one there's a million or whatever hundreds of thousands
Speaker 1: of databases running all around the world, and so they
Speaker 1: have to achieve consensus in order to verify a transaction.
Speaker 1: But how do the transactions get put up to the nodes. Well,
Speaker 1: that's being done through miners. So a minor is like
Speaker 1: a as a specialty built especially purpose built computer UM
Speaker 1: that can hook into the network and help process transactions. Now,
Speaker 1: remember if you're with me before the break, I said
Speaker 1: that Bitcoin is open, and it's that means anybody can
Speaker 1: have access to the code, see what's happened on the code.
Speaker 1: It's also permission lists, so the banking system is permissioned,
Speaker 1: which is why most people can't get into it. Facebook
Speaker 1: is permission You have to have permission to join it
Speaker 1: and they don't even barely give you any a p
Speaker 1: I S if you want to connect anything to it.
Speaker 1: But the Bitcoin network is open and permission list. Anybody
Speaker 1: can just join, anybody can see the code, anybody can
Speaker 1: start building right on top of Bitcoin. And yet it's
Speaker 1: never been hacked. And so the miners. Anybody could buy
Speaker 1: a computer, a mining computer, and you could hook it
Speaker 1: to the network and you could just start mining. No
Speaker 1: permission is required now in exchange for helping process transactions
Speaker 1: on the bitcoin network, you earn rewards, right, you get
Speaker 1: paid for that. It costs money to buy the minor,
Speaker 1: to buy the computer, it cost money to buy the
Speaker 1: electricity to mind to power the minor, and so in
Speaker 1: return you earn a reward. UM. You make money back UM.
Speaker 1: And you earn rewards two ways. The first way is
Speaker 1: through block rewards. And so what that means is that
Speaker 1: for UM, the more UM, the more blocks. So the
Speaker 1: more let's just call it, the more processing that we
Speaker 1: do on the network, UM, we unlock new bitcoins, new
Speaker 1: new coins, new rewards. There's about as of right now,
Speaker 1: there's nine hundred new bitcoin unlocked every day. UM. That
Speaker 1: amount gets cut in half every four years. So the
Speaker 1: last we call it a having was was May, and
Speaker 1: the next one happens in four years from that date,
Speaker 1: so and that will go from nine hundred down to
Speaker 1: about four bitcoin per day. So UM. The miners are
Speaker 1: earning rewards two ways, one unlocking new coins and two
Speaker 1: they earn a percentage of the fees for processing the
Speaker 1: transactions now UM back to the minors. So the miners
Speaker 1: are the ones that process these these things and earn
Speaker 1: the rewards, and so over fifty about approximately, even if
Speaker 1: the sixty percent of all the miners, all the bitcoin
Speaker 1: miners in the world were located in China, and so
Speaker 1: a lot of people were saying, oh, shoot, you know
Speaker 1: China controls the network. That's so dangerous. They could potentially
Speaker 1: take over the network. You know, they have over, they
Speaker 1: have over, they have consensus. If they all organized and
Speaker 1: got all their miners to get together, they could attack
Speaker 1: the network and things like that. And you know, while
Speaker 1: I said earlier, it's the nodes that actually run the database,
Speaker 1: not the miners um. So really it wasn't that big
Speaker 1: of a threat, but it was still there. They were
Speaker 1: that they could have they could have done something malicious.
Speaker 1: But a couple of months ago, China decided that they
Speaker 1: didn't want them bitcoin miners to be in their country anymore.
Speaker 1: As a matter of fact, I'm calling this China's second
Speaker 1: fatal mistake. Yeah, that big, China's second fatal mistake. So
Speaker 1: the first fatal mistake was about a hundred and I
Speaker 1: don't know, a hundred and fifty years ago. Years ago,
Speaker 1: the entire world started moving to a gold standard. They
Speaker 1: decided that gold was better money UM, and so everybody
Speaker 1: started moving over. Well, China didn't want to move to
Speaker 1: a gold standard. China wanted to stay on a silver standard. Well,
Speaker 1: the whole world went to gold, China stayed on silver,
Speaker 1: and guess what, it didn't work out too well for China.
Speaker 1: China lost big the whole gold one they lost with silver,
Speaker 1: and they lost their position on the world stage as
Speaker 1: a global power UM in the early dreds around thirty
Speaker 1: they had to give up on the silver standard UH,
Speaker 1: and they had to switch to a gold standard like
Speaker 1: everybody else did. For the last hundred years, they've been
Speaker 1: trying to get back to a position of power. They
Speaker 1: have become the largest holder of gold in the world.
Speaker 1: They've had a policy for about the last decade or
Speaker 1: so where anybody could come mine gold in in China,
Speaker 1: but you weren't allowed to send the gold out of
Speaker 1: the country. Any gold that you might mind in China
Speaker 1: had to be sold back to China. UM. And they
Speaker 1: also imported mass amounts of gold. So it's estimated that
Speaker 1: China holds over thirty thou tons of gold, which makes
Speaker 1: them the biggest gold holder in the world by far
Speaker 1: and away. By the way, you're listening to the Mark
Speaker 1: Mass Show where I'm talking about bitcoin, I'm talking about cryptocurrencies,
Speaker 1: and I'm talking about the decentralized revolution. Make sure you're
Speaker 1: tune in with me each and every week on the
Speaker 1: Mark Mass Show. Tweet at me. At one Mark Moss
Speaker 1: asked me some questions and I'll make sure to answer
Speaker 1: those for you. Um So China made that mistake? Um uh.
Speaker 1: Sticking with silver, they spent the last hundred years acquiring
Speaker 1: the most amount of gold and they finally become the
Speaker 1: largest gold holder. Congratulations. They also had the most bitcoin
Speaker 1: mining happening in China, and they could have done the
Speaker 1: same thing with gold, which is, hey, you can mind
Speaker 1: bitcoin in uh in China, but you have to sell
Speaker 1: all the bitcoin to us, just like they with gold.
Speaker 1: But they didn't do that. A couple of months ago,
Speaker 1: they decided to kick all the bitcoin miners out of
Speaker 1: the country. Get out of here. We don't want you here.
Speaker 1: And I'm calling this the second fatal mistake because they
Speaker 1: tried to hang and when the whole world went to gold,
Speaker 1: they stayed with silver and they lost big. Now the
Speaker 1: whole world is moving to bitcoin and they're trying to
Speaker 1: stick with gold, they're a step behind, and I'm I
Speaker 1: believe this was their second fatal mistake. Now they went
Speaker 1: ahead and shut down. So remember I said that they
Speaker 1: had about six of the bitcoin network there and they
Speaker 1: literally shut it off, kicked it out of the country.
Speaker 1: I mean, within days we saw over half of the
Speaker 1: network shut down. Literally, it was it's the largest attack
Speaker 1: we could have ever imagined to happen on bitcoin um.
Speaker 1: And it happened, and the Bitcoin network didn't even skip
Speaker 1: a beat. Didn't even skip a beat. It kept going.
Speaker 1: Share transaction times maybe got a little bit slower, a
Speaker 1: little bit more expensive, but it didn't really affect things
Speaker 1: too much. Now, all those miners had to pack up
Speaker 1: and move, they had to leave. Where are they going
Speaker 1: to go? Well, the majority of them, a good majority
Speaker 1: of them moved to Texas. They moved to Texas. That's right.
Speaker 1: So the United States became the big beneficiary of this.
Speaker 1: As a matter of fact, like I said, it was,
Speaker 1: it was Texas. And the reason why Texas is because
Speaker 1: of the massive amounts of energy that's being wasted over there.
Speaker 1: Now I say wasted because there's also this narrative that
Speaker 1: bitcoin is a waste of electricity is a waste of energy,
Speaker 1: and that couldn't be further from the truth. Um, it's
Speaker 1: a well, i'd call it a misleading in the headline,
Speaker 1: but it's kind of a dishonesty at least, it's an
Speaker 1: intellectually dishonest lie that the media is telling you. Um.
Speaker 1: Bitcoin goes to where there's wasted electronic electricity, where nobody's
Speaker 1: using it, so it uses trash, it doesn't use anything
Speaker 1: that's in demand. I'll explain to you what I mean
Speaker 1: by that, what's happening in Texas and why now the
Speaker 1: United States is leading the world in bitcoin. Um, because
Speaker 1: this has massive implications that you need to know. Like
Speaker 1: I said that, it's been like the number one thing
Speaker 1: that I hear from people is like, oh, yeah, the
Speaker 1: government's gonna make it illegal. But as I said, uh,
Speaker 1: they're not. And I've given you many of reasons why.
Speaker 1: But now the United States has taken the lead of
Speaker 1: the world. It's up to our our best interests. It's
Speaker 1: a national security issue. If we want the United States
Speaker 1: to continue doing well, for people in the United States
Speaker 1: to continue doing well, Um, then it's in the United
Speaker 1: States best interests to continue to allow this to happen.
Speaker 1: So I'm gonna explain to you why that is, um
Speaker 1: and we'll talk about the power, why Texas and so
Speaker 1: much more. Like I said, you're listening to the Mark
Speaker 1: Moas Show, where I'm bringing you the most up to
Speaker 1: date information on bitcoin, cryptocurrencies and the decentralized revolution each
Speaker 1: and every week, so you have the information that you need,
Speaker 1: the asymmetric information to take advantage of the asymmetric edge,
Speaker 1: the asymmetric opportunity that bitcoin presents the greatest wealth transfer
Speaker 1: in the history of the world. Again, you're listening to
Speaker 1: the Mark of Show. Put it on your calendar, be
Speaker 1: with me every week and I will be right back.
Speaker 1: All right, welcome back. You are listening to the Mark
Speaker 1: Moss Show, where I bring to the latest information on bitcoin,
Speaker 1: cryptocurrencies and the decentralized revolution each end every week. I mean,
Speaker 1: I'm bringing you the information that you're not gonna hear
Speaker 1: anywhere else, and it's the information that you need to
Speaker 1: have the edge so you know how to participate. What
Speaker 1: happens is, you know, anytime that you buy something that
Speaker 1: you don't fully understand then and you don't understand why
Speaker 1: you bought it or where it's supposed to go in
Speaker 1: the future, then you can easily be shaken out of that. Um.
Speaker 1: Let's say that you saw somebody on TikTok or Twitter
Speaker 1: say you should buy this cryptocurrency or bitcoin or whatever,
Speaker 1: and you just buy it because I don't know, they
Speaker 1: sounded good, they're convincing or whatever. Um. But then the price,
Speaker 1: you know, the price of bitcoin dipped from sixty five
Speaker 1: thousand all the way down to like thirty and then
Speaker 1: you're like, oh my gosh, I can't believe it. I
Speaker 1: just lost half my money. I better sell as fast
Speaker 1: as I can. Well, if you really understood what it was,
Speaker 1: what was going on, and most importantly, where it's going
Speaker 1: in the future, you probably wouldn't have sold and you
Speaker 1: would have held on and it would have made all
Speaker 1: your money back. And so that's why it's important for
Speaker 1: you to understand this. Um. Unfortunately, well it's not unfortunate.
Speaker 1: As a matter of fact, it's not unfortunate. It's actually fortunate. Uh. Fortunately,
Speaker 1: bitcoin is volatile. It's very, very volatile, and that is
Speaker 1: a good thing. Why why is it a good thing? Well,
Speaker 1: because volatility works both ways. If there was zero volatility,
Speaker 1: then the price doesn't go up or down right, it
Speaker 1: works both ways. How does an asset like bitcoin go
Speaker 1: from zero to being worth fifty eight thousand dollars without volatility?
Speaker 1: It doesn't. It can't, right, um, And so we want
Speaker 1: the volatility because we want the price to keep going up.
Speaker 1: I think we could see it be worth five hundred
Speaker 1: thousand dollars. I think we could see one bitcoin worth
Speaker 1: one million dollars. But it won't happen in a straight line.
Speaker 1: It's going to constantly go up and down, up and down,
Speaker 1: up and down, up and down as it continues to
Speaker 1: go higher. As a matter of fact, um, since bitcoin
Speaker 1: has come out over the last now about twelve years, UM,
Speaker 1: every single year the lowest point, the lowest price every
Speaker 1: year has been higher. So it seems very volatile. But
Speaker 1: if you looked at the lowest price point every year,
Speaker 1: it's always gone up except for one year that was
Speaker 1: um and so it's volatile. But how do you A
Speaker 1: lot of people said, oh, I wish I could have
Speaker 1: had if I could have a time, magine, I wish
Speaker 1: I would have bought bitcoin when it was a dollar. Well,
Speaker 1: I'm here to tell you that even if you bought
Speaker 1: bitcoin for a dollar, you would you wouldn't still own
Speaker 1: it today. The reason why is because one, when it
Speaker 1: went from a dollar to ten dollars, you probably would
Speaker 1: have sold it, or maybe you held it and it
Speaker 1: went to a thousand dollars. From one to a thousand,
Speaker 1: you probably would have sold it. What about when when
Speaker 1: it went to a thousand and dropped all the way
Speaker 1: back down to two hundred. Oh my gosh, I can't
Speaker 1: believe it. I should have sold it a thousand? What
Speaker 1: I do? And then it starts going back up to
Speaker 1: three four hundred and then you sell And now imagine
Speaker 1: that happening over and over and over and over again
Speaker 1: for a decade. How would you have ever held it?
Speaker 1: It wouldn't have been able to. Most people wouldn't been
Speaker 1: able to. Well. The way that you can is to
Speaker 1: understand where it's going in the long run and stop
Speaker 1: thinking about the short term. So UM, that's why I'm
Speaker 1: bringing this to you. We were talking about China making
Speaker 1: the second fatal mistake, UM, kicking all the bitcoin network
Speaker 1: out of their country, and how the United States has
Speaker 1: been the big beneficiary of that and it's all gone
Speaker 1: to Texas. The majority of it has gone to Texas.
Speaker 1: UM as of now, the United States accounts for the
Speaker 1: largest share of mining, about thirty five percent of the
Speaker 1: global hash rate, or that means they have the power
Speaker 1: of the about the network is in the United States, um,
Speaker 1: followed by second, which is Kazakhstan and Russia. At least
Speaker 1: that's what the data shows, um. And so part of
Speaker 1: the reason why it's gone to Texas and Kazakhstan and
Speaker 1: Russia is because of the low energy costs. Right. So, UM,
Speaker 1: I was talking about this four. You hear lots of
Speaker 1: what we call FUD. That's that's fear, uncertainty, and doubt.
Speaker 1: So whenever you hear like a bad article that's bashing it,
Speaker 1: we call fud, UM. And we've we've been putting that
Speaker 1: out and uh, we've been seeing a lot of fud
Speaker 1: that that that that bitcoin is gonna boil the oceans,
Speaker 1: that bitcoin's a consuming more energy than small countries, that uh,
Speaker 1: we don't have this much energy to waste, and all
Speaker 1: these other things, all this nonsense, right, UM. But I'm
Speaker 1: here to tell you that that's actually not the case. UM.
Speaker 1: As a matter of fact, that's not how bitcoin works
Speaker 1: at all. So let me let me explain how this
Speaker 1: works so you can be prepared to not get shaken out.
Speaker 1: So the way it works is that if I want
Speaker 1: to mind bitcoin, I have to buy an expensive computer.
Speaker 1: Once I buy the expensive computer, my only cost is
Speaker 1: the electricity. Now, um, in California in the summer, electricity
Speaker 1: can be as high as forty cents per kilowatt hour. Well,
Speaker 1: you won't any money minam bitcoin at forty cents a what?
Speaker 1: As a matter of fact, in order to be profitable,
Speaker 1: you have to be under five cents a killer watt.
Speaker 1: And really, if you want to be competitive, you need
Speaker 1: to be under three cents a kill a wat. Well,
Speaker 1: where do you find three cent kill at our electricity?
Speaker 1: I mean, what the heck? How how was it forty
Speaker 1: cents in California and three? Like? Where where would you
Speaker 1: find it for three? It makes no sense? Right? Well,
Speaker 1: remember if you've been with me the whole episode Supply
Speaker 1: and Demand, the only places that have three cents a
Speaker 1: killer watt electricity are places that have more electricity than
Speaker 1: they have buyers for, meaning that there's all this electricity
Speaker 1: going to waste, and if somebody just wants to take
Speaker 1: it for two or three cents, to just come and
Speaker 1: take it, that is the only electricity that bitcoin is using.
Speaker 1: They are not competing in California at forty cents a
Speaker 1: watt or uh you know, Ohio at eight cents a wat,
Speaker 1: or why Shington at seven cents. They're not taking any
Speaker 1: of that power because they can't it's too expensive. They're
Speaker 1: only going to places where there is excess energy or
Speaker 1: usually wasted energy um that is not being used. And
Speaker 1: that's the case in Texas. So in Texas there's oil
Speaker 1: coming out of the ground. Part of that when they
Speaker 1: get the oil out of the well, there's also natural
Speaker 1: gas coming out of the ground. Now all throughout North America, Canada,
Speaker 1: North America, Texas, etcetera, a lot of that natural gas
Speaker 1: isn't captured. Natural gas is too cheap, they don't even
Speaker 1: bother and so they either do one of two things.
Speaker 1: Either vent it off, meaning they just let the natural
Speaker 1: gas just escape into the atmosphere, or two they flare
Speaker 1: it off, meaning they're burning it at the wellhead. So
Speaker 1: they're not even capturing it. They're either literally letting it
Speaker 1: just go into the atmosphere or at least burning it,
Speaker 1: which is a little bit better. So what they figured
Speaker 1: out is what we can do is we can take
Speaker 1: that natural gas that's not being used and we can
Speaker 1: turn that into it. We can we can pipe that
Speaker 1: into a gas diesel generator, and we can make electricity,
Speaker 1: and we can mind bitcoin with that. So it's wasted energy.
Speaker 1: As a matter of fact, it's it's energy. It's potentially
Speaker 1: I'm not going to get into the science of it,
Speaker 1: but potentially it could be bad for the atmosphere to
Speaker 1: leak all this natural gas. So instead of just letting
Speaker 1: it leak into the atmosphere and being bad, they're actually
Speaker 1: capturing it and using it for something productive. It's not
Speaker 1: a waste at all. It's not a waste at all.
Speaker 1: It's a waste to let that be leak to the atmosphere.
Speaker 1: And the same as all over the world. That's why Kazakhstan.
Speaker 1: Of course, if you know anything about nuclear energy, or
Speaker 1: oil or natural gas, it's all in Russia and Kazakhstan,
Speaker 1: which is why again they have so much excess energy
Speaker 1: that's super super cheap. As a matter of fact, Um,
Speaker 1: I don't know the exact numbers. I didn't prepare for this,
Speaker 1: but of all the all the energy in the world,
Speaker 1: it's like, I don't even want to butcher the numbers,
Speaker 1: but of all the wasted energy in the world, just
Speaker 1: the amount that gets wasted. That means the energy that's produced,
Speaker 1: but there's no buyers or users for it. Of the
Speaker 1: amount that's wasted. Bitcoin only uses like two per cent
Speaker 1: of the wasted energy, not of the total energy. And
Speaker 1: so that's why now I'm going back to Al Savadoor
Speaker 1: for a minute. El Salvador has a volcano. Okay, well,
Speaker 1: what good is that. Well, a volcano with the heat,
Speaker 1: they can actually use that to turn into electricity. Okay,
Speaker 1: that's cool, But the problem is that you can't transport electricity,
Speaker 1: so even if I could get electricity from the volcano,
Speaker 1: doesn't help anybody in in El Salvador. So so what
Speaker 1: big deal? Well, it is a big deal because now
Speaker 1: we can mind bitcoin at the volcano. So volcano is
Speaker 1: worthless to Al Savador, and now they can turn it
Speaker 1: into money and they can use that money to finance
Speaker 1: other projects in their country like schools and parks and
Speaker 1: things like that, and so um Bitquin isn't using or
Speaker 1: wasting electricity, as a matter of fact, it's using wasted electricity.
Speaker 1: Electricity that would be going to waste. And now Texas
Speaker 1: is the big beneficiary and the United States and so UM.
Speaker 1: If you look at the United States over the last
Speaker 1: twenty years, what's led to all the growth has been
Speaker 1: the rise of the fan stocks, Facebook, Apple, Netflix, Google, um,
Speaker 1: the technology the Internet. And now the United States is
Speaker 1: sitting firmly in a spot to take advantage of the
Speaker 1: biggest technological revolution that we'll ever see, which is bitcoin. UM.
Speaker 1: Like I said, Texas has been the big beneficiary of
Speaker 1: the United States. Is coming up. We have in transmitt
Speaker 1: all through the governments as well as the financial industry. UM.
Speaker 1: And that's not all. There's even bigger things coming. And
Speaker 1: I am going to break that down for you in
Speaker 1: just a second. You will not believe what comes next.
Speaker 1: By the way, you're listening to the Mark Moas Show,
Speaker 1: and I will be right back