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Speaker 1: The way that the wealthy build wealth. They're using multiple

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Speaker 1: things in a proper sequence in order to invest through

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Speaker 1: layers to multiply their well five hundred times faster. I

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Speaker 1: could have just put it into an index fund and

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Speaker 1: it could have grown at six or seven percent. But

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Speaker 1: here I've turned it into fifteen million. But that doesn't

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Speaker 1: stop there. Now that fifteen million I can borrow against that.

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Speaker 1: Bitcoin is our single greatest weapon, not just to build

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Speaker 1: wealth for ourselves, just to change the world in a

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Speaker 1: massively positive way. If it could capture one point five

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Speaker 1: percent by twenty thirty, that puts it at one million

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Speaker 1: dollars per bitcoin. Wow, as twenty years after it came out,

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Speaker 1: Airbnb did ten percent. Ten years. Whoever's listening to this,

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Speaker 1: you're not smarter than Howard Lednik. He put a billion

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Speaker 1: dollars in microstrets. So all these people, well, micro strategy

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Speaker 1: to scamponzie. Okay, they put a billion dollars, that's like

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Speaker 1: forty percent into micro strategy. On the other side, they

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Speaker 1: invested into Tether. Tether is the largest stable coin company

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Speaker 1: in the world. And you're bearish, like, we have this.

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Speaker 1: One of the smartest guys in the world built multiple

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Speaker 1: millions of dollars multiple times, running the govern building these

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Speaker 1: operations and and and having his money where his mouth

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Speaker 1: is in three different companies that are benefiting from this. Right.

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Speaker 1: They're not doing it to pump their bags. They realize

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Speaker 1: it's the best asset in the world. Yeah, cru Argentina, Lebanon, Turkey,

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Speaker 1: et cetera. They desperately want dollars because their currencies are

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Speaker 1: exploding all around them, but they're not able to get dollars.

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Speaker 1: Their countries keep them from doing that. So US dollars

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Speaker 1: stable coins have made it where they can easily get

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Speaker 1: to the US dollars. So the world desperately wants US dollars,

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Speaker 1: so the US dollar stable coin will get to the

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Speaker 1: entire world. And then the government also has another problem,

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Speaker 1: the government these people to buy mark.

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Speaker 2: Thank you, thank you so much for Lena, and may

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Speaker 2: use your studio and interview you man. Yeah, exciting, what

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Speaker 2: uh what are you most excited about right now in

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Speaker 2: this crazy time?

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Speaker 1: Hmmm? What am I the most excited about? I'm so

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Speaker 1: excited in every part of my life. Let me let

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Speaker 1: me let me just back this up and then we'll

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Speaker 1: try to answer that question. I believe that all of

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Speaker 1: life is about the law of compounding, right, so Einstein

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Speaker 1: called the eighth wonder of the world. Those who know

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Speaker 1: it receive it, those who don't know what pay it.

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Speaker 1: But typically that's used. I'm sure you use that all

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Speaker 1: the time in regards to how an account compounds over

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Speaker 1: time and it doubles and things like that. But it's

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Speaker 1: not just about money. It's about every single part of life,

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Speaker 1: every single part of life. And so I built this

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Speaker 1: house down in Mexico, this really big house on the beach.

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Speaker 1: This guy came in. He went to do this home

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Speaker 1: automation for me. He'd never done a house this big,

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Speaker 1: is really outside of his reach, and he was hoping

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Speaker 1: that he could use my house to help him start

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Speaker 1: getting more high end clients. He did the worst job ever. Now,

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Speaker 1: if he would have done a really good job, I

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Speaker 1: would have recommend to all my neighbors. But because he

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Speaker 1: did such a horrible job, I'll tell all my neighbors

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Speaker 1: to never work with him. So instead of it compounding

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Speaker 1: one job gets some five jobs, five jobs gets some

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Speaker 1: twenty jobs, I'll make sure he never gets another job.

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Speaker 1: Not because I'm vindictive, but if my neighbors asked me

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Speaker 1: I have to say no. But it so if I

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Speaker 1: make a good YouTube video, people are more likely to

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Speaker 1: watch my next YouTube video. If I make a bad one,

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Speaker 1: they won't watch it again. But when it comes to learning,

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Speaker 1: it's also the same way. Like I'm in this space

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Speaker 1: where like I am just like voraciously trying to expand

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Speaker 1: into every value that I have. I want to be

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Speaker 1: like the ultimate best, not to be other people, but

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Speaker 1: just be a better version of myself. But in every area,

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Speaker 1: I want to work smarter, I want to do bigger deals,

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Speaker 1: i want to get more in shape, I want to

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Speaker 1: be a better father in every area. And that was

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Speaker 1: also the law of compounding as well. So it's like

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Speaker 1: I didn't always be I wasn't always like this, but

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Speaker 1: at one point I read a book. I was like, Wow,

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Speaker 1: that changed my life a little bit. What if I

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Speaker 1: read another one? What if I read another Oh my gosh,

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Speaker 1: what if I read what if I hired this coach?

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Speaker 1: Oh my gosh, what if I And like over time,

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Speaker 1: and so now I'm at this point in my life

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Speaker 1: right now where it's like I'm just like so excited

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Speaker 1: for every single part because every single part of my

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Speaker 1: life is just maximizing and then they start to compound

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Speaker 1: on each other. Right, So, now what I'm doing in

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Speaker 1: the gym, the discipline I'm building the gym, the way

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Speaker 1: I've tweaked my diet to give me maximum energy all day,

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Speaker 1: then goes into my work and my clarity. So I'm

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Speaker 1: super excited about a lot of things because that, as

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Speaker 1: you can tell, I would say, ultimately, one big thing

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Speaker 1: that I'm really focused on is the law of compounding.

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Speaker 1: I started making YouTube videos about seven eight years ago,

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Speaker 1: and I didn't want to. My partner at the time

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Speaker 1: forced me to, like we were going to break up.

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Speaker 1: Our business would fall apart if I didn't, And here

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Speaker 1: we are the law of compounding. My reach has gotten

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Speaker 1: to the point, you know, they got one hundred million

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Speaker 1: views or whatever, and the doors that has opened up

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Speaker 1: because of that, the law of compounding, the relationships that

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Speaker 1: I've built, and now like the it I'm starting to

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Speaker 1: see the impact that I'm making on people's lives through

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Speaker 1: the coaching consulting programs like real serious change, but also

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Speaker 1: like now I have like companies coming to me. I

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Speaker 1: have like a publicly traded company that I just launched

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Speaker 1: I'm an officer of. I have other companies that are

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Speaker 1: giving me equity to help them, and so it's like

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Speaker 1: my pursuit of growth being better every day has now compounded,

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Speaker 1: and I see this ripple effect. And so now I'm

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Speaker 1: coaching and consulting people on a weekly basis. I have

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Speaker 1: people coming into my studio this week to help them,

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Speaker 1: and I see the impact of that. So I'm super

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Speaker 1: excited about that. But then I see my reach even

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Speaker 1: going into businesses and companies and helping them, and so

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Speaker 1: that's what I'm the most excited about. So it's like

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Speaker 1: almost like my pursuit of leveling up is now compounded

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Speaker 1: into other people's lives and even businesses, and it's just

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Speaker 1: amazing to see.

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Speaker 2: Yeah, I'm hoping to get a mini master class on

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Speaker 2: your thoughts about bitcoin and economics and just how Trump's doing.

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Speaker 2: But before that, you've been talking about building wealth and layers,

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Speaker 2: and I would just love to hear you articulate that.

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Speaker 2: And you know, because people come to you all over

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Speaker 2: the place to learn how to build wealth, and you're

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Speaker 2: although you're fan of bitcoin and some other things, you

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Speaker 2: also can look you can take a step back and

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Speaker 2: look holistically at the situation.

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Speaker 1: Well, I'm mostly known for my work in bitcoin, I

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Speaker 1: got started making content around cryptocurrency. Now it's just bitcoin,

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Speaker 1: that crypto, but I started my career in real estate.

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Speaker 1: So it's like I've been an investor through multiple markets,

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Speaker 1: through multiple assets, and I'd say, certainly, I think that

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Speaker 1: bitcoin is the cheat code. Bitcoin is our single greatest weapon,

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Speaker 1: not just to build wealth for ourselves, which it is,

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Speaker 1: and we'll break that down, but to change the world

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Speaker 1: in a massively positive way. So it's the cheat code

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Speaker 1: for life for us individually and as a as a

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Speaker 1: as a world. But also like whether you'd like bitcoin

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Speaker 1: or not, put that, put that aside. Whether you like

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Speaker 1: real estate, okay, like whatever, there's this raging debate in

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Speaker 1: the bitcoin circles, like real estate or bitcoin, which one's better.

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Speaker 1: Maybe you're a Dave Ramsey fan and you think you

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Speaker 1: should just go into mutual funds and index funds like okay, fine,

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Speaker 1: Like choose your weapon. But the way that the wealthy

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Speaker 1: build wealth, and part of me building out this network

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Speaker 1: is getting access to people like this to see these

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Speaker 1: things is that it doesn't matter. They're not trying to

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Speaker 1: choose the best. They're using multiple things in a proper

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Speaker 1: sequence and order to invest through layers to multiply their

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Speaker 1: well three hundred five times, five hundred times faster. And

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Speaker 1: so whether you like bitcoin or don't, or whether you

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Speaker 1: like index funds are don't, or whether whether you like

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Speaker 1: real estate or not, that's not the point. It's how

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Speaker 1: do I use multiple assets understanding what we're really doing

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Speaker 1: with them, and using them in the proper order and

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Speaker 1: sequence to build well. So let me give you an

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Speaker 1: example of what I mean. So, what most people think

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Speaker 1: that rage in this debate between bitcoin and real estate

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Speaker 1: is well, bitcoin's better, No, real estate's better. Well, bitcoins

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Speaker 1: better because it's going up faster, it's going up at

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Speaker 1: fifty percent a year. Real estate is going to put

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Speaker 1: five percent a year. Yeah, but real estate we can

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Speaker 1: get we can get leverage because of debt and blah

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Speaker 1: blah blah. What they don't realize is that. And then

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Speaker 1: there's all this talk about this airbnb boom and all

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Speaker 1: these people bought real estate and they're turning into airbnbs.

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Speaker 1: But airbnb markets crashing and the home values are dropping

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Speaker 1: in Austin fifteen percent. All these people are said down,

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Speaker 1: they don't understand. You see what the wealthy do is

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Speaker 1: they don't buy real estate for cash flow. They buy

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Speaker 1: real estate for tax efficiency. So I was telling you

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Speaker 1: I bought this ranch property out in Austin, Texas, two

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Speaker 1: and a half million dollar property. That property is an

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Speaker 1: airbnb when I'm not there. I used it for events

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Speaker 1: when I'm out there. But that got me millions of

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Speaker 1: dollars of tax right off. I didn't have to pay

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Speaker 1: tax on millions of dollars because I bought that property.

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Speaker 1: What do I care if it drops by twenty or

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Speaker 1: thirty percent, I don't care. I got millions, right And

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Speaker 1: so people don't understand this. They look at it like that.

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Speaker 1: And so what happens is like, I'm working with this

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Speaker 1: hosted bitcoin mining company right now. We're not selling hosted

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Speaker 1: bitcoin mining, we're selling tax efficiency. What if I can

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Speaker 1: get double the bitcoin in two and a half years

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Speaker 1: and I get a hundred thousand dollars a ride off

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Speaker 1: at the same time. And so that's what I've talked

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Speaker 1: about with Layers, is like understanding it's not the asset

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Speaker 1: that I'm buying, it's how does it fit into my

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Speaker 1: picture and how do I use this in a portfolio

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Speaker 1: that then allows me to multiply wealth. Let me just

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Speaker 1: break this down. So I did a video on this. So, like,

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Speaker 1: if I were to put one hundred thousand dollars into

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Speaker 1: a whole life insurance policy compounding a five percent a year,

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Speaker 1: and then I borrow the money out at five percent

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Speaker 1: a year, isn't that a wash? No? Because one is compounding,

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Speaker 1: the other one is getting paid down. So I take

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Speaker 1: that one hundred thousand, I pull it out and I

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Speaker 1: reinvest it, reinvest it into what, Well, first of all,

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Speaker 1: over twenty years, that's going to make me fifty thousand dollars.

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Speaker 1: That's like a fifty percent return on my capital. Then

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Speaker 1: I take that one hundred thousand, and now I go

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Speaker 1: buy five hundred thousand dollars worth of real estate, which

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Speaker 1: potentially gets me back to the Napkin math four hundred

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Speaker 1: thousand dollars in tax right off. So I don't pay

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Speaker 1: tax on four hundred grand. That could be one hundred

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Speaker 1: and fifty thousand dollars based off of whatever an average salary.

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Speaker 1: Now I have a hundred fifty thousand dollars I didn't

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Speaker 1: I got to keep because I didn't pay that into taxes.

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Speaker 1: Right now, I put that one hundred fifty thousand dollars

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Speaker 1: into bitcoin, and in five years that's worth fifteen million dollars.

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Speaker 1: And I didn't make up penny more. Yeah, I didn't

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Speaker 1: increase my income. I didn't work harder. I could have

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Speaker 1: just put it into an index fund and it could

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Speaker 1: have grown a six or seven percent. But here I've

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Speaker 1: turned it into fifteen million. But that doesn't stop there.

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Speaker 1: Now that fifteen million, I can borrow against that, borrow

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Speaker 1: fifty percent LTV. I borrowed seven million out buy more

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Speaker 1: real estate, and I probably never paid tax again. And

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Speaker 1: so that's what I'm talking about in layers.

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Speaker 2: Do you have a framework when it comes to layering

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Speaker 2: or is it just one of those It's like everyone's

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Speaker 2: a little bit different. For example, you talk about tax efficiency.

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Speaker 2: I know you're friends with Robert Kyosaki. In his book,

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Speaker 2: he's like, don't don't buy taxes just for taxes, buy

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Speaker 2: it for cash flow. What is your You know one

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Speaker 2: thing that makes Robert so iconic is he has the

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Speaker 2: cash flow quadrant. He has the you are financially free

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Speaker 2: when you have enough passive cash flow coming into So

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Speaker 2: what is your framework for layers? Because it sounds great.

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Speaker 2: I love whole life insurance. I know you do is well,

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Speaker 2: put money in that asset and leverage that to do

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Speaker 2: real estate. Is there like a one two three punch

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Speaker 2: for someone listening or watching that that are like maybe

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Speaker 2: first principles of like do this, then do this, then

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Speaker 2: do this.

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Speaker 1: Yeah. Shout out to Robert Kyosaki. He was my mentor.

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Speaker 1: I read his books for twenty five years, as he's

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Speaker 1: become a friend and it was really him that made

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Speaker 1: me look deeper because I got to know him maybe

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Speaker 1: around twenty twenty or twenty twenty one. And in twenty

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Speaker 1: twenty one, California shutdown. It was COVID pandemic craziness, and

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Speaker 1: so we left and I went to Puerto Rico with

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Speaker 1: my family. And part of it was just because I

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Speaker 1: wasn't going to live locked down. Part of it was

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Speaker 1: like I'm a surfer. I love the island. But also

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Speaker 1: there's tax efficiency in Puerto Rico, right. And I remember

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Speaker 1: I was speaking at conferences, Robert was speaking at conferences,

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Speaker 1: and a couple couple times more than once, two or

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Speaker 1: three times from stage, he.

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Speaker 2: Calls me out, it's cool.

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Speaker 1: I want to take a break real quick and just

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Speaker 1: say that there's only so much you can learn through videos. Yeah,

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Speaker 1: build your knowledge, build your skills, but you need to

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Speaker 1: build your relationships or relationships plus skills equals money. So

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Speaker 1: come build your relationships and your knowledge at the Bitcoin

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Speaker 1: Conference May twenty seventh through twenty ninth in Las Vegas.

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Speaker 1: I'm gonna be there speaking for the fourth year in

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Speaker 1: a row, and lots of other people way bigger than me. Entertainment, politics, media, finance,

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Speaker 1: you name it, they'll be there, So come check it out.

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Speaker 1: Save some money with my code Mark Moss or I'll

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Speaker 1: put a link down below if you use my code

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Speaker 1: to save some money. I'm going to do a private

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Speaker 1: meetup just for you and some of my friends. So

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Speaker 1: let me know. Use that code, save some money, Send

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Speaker 1: me a message and we'll get you in the private

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Speaker 1: meetup and I hope to see you in Las Vegas.

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Speaker 1: Guys like Mark Moss and Peter Schiff have to move

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Speaker 1: to Puerto Rico to not pay taxes. He's like, I

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Speaker 1: don't pay taxes, and he would call me out, like

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Speaker 1: multiple times from stage, like what an idiot this guy is?

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Speaker 1: He had to move to get out of taxes. Don't

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Speaker 1: they know that we just don't pay taxes? And so

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Speaker 1: that made me go huh, like maybe I need to

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Speaker 1: look at this a little bit more, and uh, hanging

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Speaker 1: out with them, having dinners with him. I'm like, let's

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Speaker 1: break this down, like, what are we doing here, what's

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Speaker 1: the strategy whatever? Sting a shout out to Robert Kyosaki

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Speaker 1: and the framework, I would say, I guess maybe I

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Speaker 1: don't have a clearly defined framework as far as which

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Speaker 1: assets go into which ones because sort of like our

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Speaker 1: mutual friend Garrett Gunderson, it's like this investor DNA, so

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Speaker 1: as I said, maybe you don't like bitcoin, cool, like whatever,

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Speaker 1: don't don't get hung up on that. It's like Trump

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Speaker 1: derangement syndrome. Somebody can't see past that. Okay, let's put

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Speaker 1: a different asset in there. So looking at different assets differently,

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Speaker 1: but I think the order makes sense of one, set

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Speaker 1: up that base layer, it's right. Two. I use real

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Speaker 1: estate there because that's how we get rid of the taxes. Now,

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Speaker 1: there's other ways to do that, but like real estate

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Speaker 1: is the easiest way to get that leverage. Because what

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Speaker 1: people that are like, maybe they're they thinking like level

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Speaker 1: two or level three on this. They think they buy

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Speaker 1: things for tax write offs. But I mean I still

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Speaker 1: have to give up the money. What wealthy do is

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Speaker 1: I don't want to spend a dollar and write off

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Speaker 1: a dollar. I want to spend a dollar in write

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Speaker 1: off five dollars. I want to spend a dollar and

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Speaker 1: write off ten dollars. So then what allows me to

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Speaker 1: do that? Well, typically it would be things that I

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Speaker 1: can put leverage against. So real estate is one. I'm

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Speaker 1: working on bringing a product to market where we can

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Speaker 1: do loans against bitcoin mining equipment, and then I can

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Speaker 1: also get that leverage right off. Wealthy do other things

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Speaker 1: with collectibles, fine art, things like that, land conservations, things

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Speaker 1: like that. So there's other ways to get that. I mean,

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Speaker 1: Elon must did it with Tesla, you know, I sell

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Speaker 1: and carbon credits or tech you know, things like that.

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Speaker 1: So there are other ways, But what are the ways?

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Speaker 1: It all starts with a question, right, So it's like, Okay,

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Speaker 1: I set my base layer so I always have a

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Speaker 1: growing Then how do we get the tax efficiency? And

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Speaker 1: I know that I want three, five, ten dollars a

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Speaker 1: right off of every dollar I spend, So what gives

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Speaker 1: me those? Real Estate's just the most successful way for everybody.

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Speaker 2: To do that.

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Speaker 1: Now I keep more money, what do I do with

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Speaker 1: it next. Now you can put that in the S

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Speaker 1: and P five hundred. If that's you, maybe it's Tesla Nvidia.

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Speaker 1: For me, I think it's bitcoin because I don't think

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Speaker 1: there's any asset in the world that will outpace bitcoin.

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Speaker 1: Bitcoin is the cheat code, and so it certainly belongs

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Speaker 1: in our PORTFOLI the most bitcoiner. For say, just buy

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Speaker 1: bitcoin and don't do anything. And that's not a bad strategy.

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Speaker 1: You can just buy bitcoin and outperform every single Wall

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Speaker 1: Street hedge fund. You can just beat everybody just by bitcoin.

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Speaker 1: That's it. Just buy it. But because I want to

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Speaker 1: get better at everything, why not make three to five

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Speaker 1: hundred percent more and do it that way?

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Speaker 2: Yeah, I wrote, build the foundation and then leverage for

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Speaker 2: text benefits and then for compounding.

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Speaker 1: That's exactly right.

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Speaker 2: I love that, all right, sell me on bitcoin. I

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Speaker 2: have a lot of a lot of the people that

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Speaker 2: watch this are into real estate, are business owners, and

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Speaker 2: understand the powerful life insurance, so they're maybe more sophisticated

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Speaker 2: than the average person. Bitcoin is one of those things

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Speaker 2: that I get a lot of questions on and I

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Speaker 2: have come I mean, I remember during COVID, I was like,

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Speaker 2: what is going on? And now it's over eighty thousand,

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Speaker 2: and there's people saying that it's that's only beginning. I

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Speaker 2: talked to someone last night that's like, put your money

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Speaker 2: in bitcoin.

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Speaker 1: I think it has a ten X in front of

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Speaker 1: it in the next five years.

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Speaker 2: Can help me understand break down them? Yeah's help me

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Speaker 2: understand bitcoin.

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Speaker 1: So what happens is about every fifty years. For the

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Speaker 1: last three hundred years, we're on the sixth cycle. So

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Speaker 1: we have these cycles. They're about fifty year cycles that happened,

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Speaker 1: and I call them quantum wave cycles. Other people have

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Speaker 1: called them k waves or conjointive waves. You can look

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Speaker 1: them over. But basically, we have a technological revolution that

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Speaker 1: happens about every fifty years, and we get this cluster

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Speaker 1: of technologies that gives us new sets of building blocks

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Speaker 1: that we didn't have before. So the problem that humans

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Speaker 1: have is we're no good to imagine in the future

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Speaker 1: because we can only imagine better versions of what we

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Speaker 1: have today, but we don't imagine that we'll have different

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Speaker 1: building blocks to let us build different things. If you

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Speaker 1: have a deck of cards, what can you build a

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Speaker 1: deck of cards versus what can you build legos? Right,

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Speaker 1: So we had It all started with the Industrial Revolution.

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Speaker 1: We had mechanized machines for the first time, machines that

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Speaker 1: could do the work of five thousand men. Then we

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Speaker 1: had the steam engines and railways. Now we can move stuff,

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Speaker 1: and we had electricity, steel, heavy equipment. Now we can

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Speaker 1: build skyscrapers, bridges, electricity, obviously oil, oil fuels, automobiles, and

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Speaker 1: mass production. In nineteen oh eight nineteen seventy one the

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Speaker 1: birth of the microprocessor, which brought us to personal computers,

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Speaker 1: telecom internet, teach huge. These are all quantum leaps, and

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Speaker 1: now we're entering another one. And what bitcoin is this

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Speaker 1: new piece of technology. And the problem that we have

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Speaker 1: because we can't imagine the future very well. We try to.

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Speaker 1: Our brains are really comparing mechanisms, like, hey, this is heavy,

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Speaker 1: well heavy compared to what, right, So what is this electricity? Oh,

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Speaker 1: it's kind of like a digital candle. It gives us light. Well,

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Speaker 1: it was like a digital candle. That was a use

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Speaker 1: case for it, but of course electricity is so much

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Speaker 1: more than that today. So we think about what is bitcoin. Well,

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Speaker 1: it's sort of like these things. Well it is like that,

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Speaker 1: and it's like that, and it's like that it's like

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Speaker 1: but it's even more right. So right now bitcoin is falling.

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Speaker 1: It's a new piece of technology, and I want to

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Speaker 1: I want to try to explain it without going too deep.

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Speaker 1: You need a thousand hours. You can't borrow someone's conviction. Right,

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Speaker 1: But what we know is that we have this monetary

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Speaker 1: history and all types of different things have been money

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Speaker 1: throughout history. Feathers, rock, seashells, and eventually gold emerged as

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Speaker 1: the best form of money. So it's we understand that

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Speaker 1: money is an evolutionary path. So it starts as a collectible.

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Speaker 1: Look at this cool rock or feather or seashell. Look

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Speaker 1: at this baseball card, this Pokemon card. Now, some collectibles,

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Speaker 1: not all, but some evolve to the next stage, which

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Speaker 1: is a store of value. Some baseball cards or are

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Speaker 1: stores of value. Some wealthy people do store their wealth

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Speaker 1: or value in collectibles and fine art and things like that. Now,

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Speaker 1: if some have the right attributes, it could evolve maybe

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Speaker 1: to the next stage, which is a medium exchange. So

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Speaker 1: it needs to have the money attributes portable, divisible, durable, recognizable, saleable,

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Speaker 1: things like that. So like a mona lisa is terrible

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Speaker 1: because you can't divide it up. A cow could be,

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Speaker 1: but it's not fungible one part, like a ribbi is

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Speaker 1: different than a liver. Right. A banana would be terrible

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Speaker 1: because it's not durable. So gold emerged as that's the

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Speaker 1: best one, and it was the most scarce asset. But

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Speaker 1: the problem with gold is that that was great in

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Speaker 1: an industrial era. So really what happened is we had

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Speaker 1: this gold age. But in the fifteen hundred's, actually like

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Speaker 1: fourteen ninety eight, Luco Palliali in Florence, Italy created a

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Speaker 1: new piece of technology called the ledger in double entry accounting.

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Speaker 1: And because gold was too slow, how do I sell

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Speaker 1: it across the sea? How do we trade globally when

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Speaker 1: gold is so slow, big, heavy, dangerous to transport. So hey,

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Speaker 1: we have this new piece of technology called a ledger

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Speaker 1: or double enjoy accounting. So you give us the gold

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Speaker 1: and we'll just keep track of the ledger. And that's

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Speaker 1: basically the system that we're on today. The problem is

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Speaker 1: who controls the ledger, and so that's always been the problem.

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Speaker 1: So gold required all this centralization, and so what happened

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Speaker 1: is all the gold went in the banks. The banks

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Speaker 1: controlled the ledgers. But in nineteen thirty three, the United

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Speaker 1: States government seized all the gold from the people. And

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Speaker 1: part of the reason why they seized it is because

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Speaker 1: they were lying about the Lleger. They kept printing too

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Speaker 1: much paper debt and it wasn't tied to the dollar,

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Speaker 1: and they found themselves short. They owed a lot of gold,

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Speaker 1: and so they said, let's just take all the gold

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Speaker 1: is in the banks. And so gold is always going

429
00:20:11,880 --> 00:20:14,720
Speaker 1: to be susceptible to the same problem. It requires centralization

430
00:20:14,800 --> 00:20:18,040
Speaker 1: because we're not in this old industrial agency more. We're

431
00:20:18,040 --> 00:20:21,760
Speaker 1: an information age. And so today now transactions are at

432
00:20:21,760 --> 00:20:24,760
Speaker 1: the speed of light, transactions I can click. I have

433
00:20:24,800 --> 00:20:26,320
Speaker 1: this problem every time I think of something. I was

434
00:20:26,320 --> 00:20:28,200
Speaker 1: opened my Amazon app and it's like here today. Right,

435
00:20:28,880 --> 00:20:34,800
Speaker 1: But settlement is still from the fifteen hundreds. Settlement still

436
00:20:34,840 --> 00:20:36,760
Speaker 1: takes three to five days to get an ach credit

437
00:20:36,800 --> 00:20:39,159
Speaker 1: card into your bank. Isn't that wild? But it's not

438
00:20:39,200 --> 00:20:43,040
Speaker 1: even that. Final settlements really about ninety days to six months,

439
00:20:43,280 --> 00:20:46,480
Speaker 1: because someone could charge their credit card back final settlement.

440
00:20:46,520 --> 00:20:46,960
Speaker 2: That's right.

441
00:20:47,760 --> 00:20:50,919
Speaker 1: So we have this antiquated financial system. But more importantly,

442
00:20:51,520 --> 00:20:54,720
Speaker 1: not only is it antiquated, but it it's destructive. Right,

443
00:20:54,800 --> 00:20:56,960
Speaker 1: And so if you look at Chargers' website called wtf

444
00:20:56,960 --> 00:20:59,480
Speaker 1: Happened nineteen seventy one? And it shows it's just a

445
00:20:59,480 --> 00:21:02,240
Speaker 1: whole website full of charts. You'd love it. Just charts,

446
00:21:02,280 --> 00:21:05,480
Speaker 1: that's it. And it's every single chart with a line

447
00:21:05,520 --> 00:21:10,440
Speaker 1: at nineteen seventy one, and the homelessness rate boom, the

448
00:21:10,680 --> 00:21:13,639
Speaker 1: single mother birth rate boom, the obesity rate boom, the

449
00:21:13,680 --> 00:21:17,720
Speaker 1: incarceration rate boom. Certainly, our purchasing power going down. Home

450
00:21:17,720 --> 00:21:20,200
Speaker 1: price is going up, gas price, everything, all the price

451
00:21:20,240 --> 00:21:23,359
Speaker 1: is going up. But I laid out the destructive parts

452
00:21:23,359 --> 00:21:27,720
Speaker 1: of society, the single mother birth rates, the incarceration rates,

453
00:21:27,760 --> 00:21:28,520
Speaker 1: the divorce rates.

454
00:21:28,560 --> 00:21:30,440
Speaker 2: Why going off the gold standard? Why did that have

455
00:21:30,560 --> 00:21:31,120
Speaker 2: that effect?

456
00:21:31,160 --> 00:21:33,600
Speaker 1: Well, because when we got off of any tie to

457
00:21:33,880 --> 00:21:36,320
Speaker 1: sound money and started printing endless amounts of money, we

458
00:21:36,320 --> 00:21:39,760
Speaker 1: create inflation. So when we print money, it creates inflation,

459
00:21:40,840 --> 00:21:43,439
Speaker 1: which means that every time they print a dollar, my

460
00:21:43,520 --> 00:21:46,480
Speaker 1: existing dollar buys me less goods and services. So as

461
00:21:46,520 --> 00:21:48,479
Speaker 1: they printed more and more and more and more and

462
00:21:48,520 --> 00:21:50,160
Speaker 1: more and more, my dollar bought me less and less

463
00:21:50,160 --> 00:21:51,840
Speaker 1: and less and less and less. And so what happened

464
00:21:51,880 --> 00:21:54,760
Speaker 1: is on an average wage, where I used to be

465
00:21:54,760 --> 00:21:57,160
Speaker 1: able to buy the American dream, the house, to car,

466
00:21:57,240 --> 00:22:01,359
Speaker 1: the college education. Now today you can't. And so the

467
00:22:01,440 --> 00:22:04,440
Speaker 1: reason why the cost of everything went up is because

468
00:22:04,440 --> 00:22:06,720
Speaker 1: they kept printing more dollars. My dollars were buying less

469
00:22:06,720 --> 00:22:08,520
Speaker 1: of those things. But at the same time, the destruction

470
00:22:08,560 --> 00:22:10,840
Speaker 1: of society went down. Because what's the number one cause

471
00:22:10,880 --> 00:22:14,840
Speaker 1: of divorce money? One of the main causes of obesity

472
00:22:14,920 --> 00:22:16,800
Speaker 1: is I can't afford good food. I eat junk food.

473
00:22:17,040 --> 00:22:18,840
Speaker 1: Why do we have the incarceration going up? Well, now

474
00:22:18,840 --> 00:22:22,280
Speaker 1: I got to rob and steel. So it's not just

475
00:22:23,640 --> 00:22:26,400
Speaker 1: it's not just that things have gotten more expensive. It's

476
00:22:26,440 --> 00:22:29,080
Speaker 1: not just that my quality of life has gone down.

477
00:22:29,440 --> 00:22:34,160
Speaker 1: It's not that they've literally stole my life. So let's

478
00:22:34,160 --> 00:22:36,200
Speaker 1: think about this. Back just a few years ago, under

479
00:22:36,200 --> 00:22:40,399
Speaker 1: President Biden, we had but nine percent inflation. Now it

480
00:22:40,480 --> 00:22:42,399
Speaker 1: was probably twenty percent, but let's just call it the

481
00:22:42,480 --> 00:22:45,919
Speaker 1: nine What does that mean? That means for the average

482
00:22:45,920 --> 00:22:49,000
Speaker 1: person making thirty bucks an hour, they have to work

483
00:22:49,119 --> 00:22:52,720
Speaker 1: ten hours more per month just to have the same

484
00:22:52,760 --> 00:22:54,439
Speaker 1: quality of life that they had before, just to have

485
00:22:54,480 --> 00:22:57,639
Speaker 1: the sayd SA ten hours more per month, ten hours

486
00:22:57,640 --> 00:22:59,680
Speaker 1: that I could have spent with my kid, ten hours

487
00:22:59,680 --> 00:23:01,200
Speaker 1: I could spent with my wife. Ten hours I could

488
00:23:01,200 --> 00:23:02,600
Speaker 1: have spent on a side business. Ten hours I could

489
00:23:02,600 --> 00:23:05,159
Speaker 1: have been in the gym. They took my life, my

490
00:23:05,320 --> 00:23:07,760
Speaker 1: life hours. All of economics is built on the law

491
00:23:07,760 --> 00:23:10,480
Speaker 1: of scarcity. The most scarce sasset in the world is time.

492
00:23:10,680 --> 00:23:13,320
Speaker 1: That's what they took. But then we can see the

493
00:23:13,320 --> 00:23:15,280
Speaker 1: societal destruction of that. And I have to lay out

494
00:23:15,320 --> 00:23:16,840
Speaker 1: the problem because if you don't understand the problem, you

495
00:23:16,840 --> 00:23:20,159
Speaker 1: don't understand the solution. So now we have a way

496
00:23:20,520 --> 00:23:25,440
Speaker 1: to store our wealth, our value, our energy, our life

497
00:23:25,800 --> 00:23:28,840
Speaker 1: energy in an asset that can't be inflated away. So

498
00:23:28,880 --> 00:23:32,480
Speaker 1: bitcoin has a cap of only twenty one million, so

499
00:23:32,840 --> 00:23:36,240
Speaker 1: they can't print more of it. And on top of it,

500
00:23:37,200 --> 00:23:40,000
Speaker 1: they can't seize it, they can't manipulate it, they can't

501
00:23:40,000 --> 00:23:45,040
Speaker 1: steal it. And I can transmit it immediately, immediately for

502
00:23:45,080 --> 00:23:47,160
Speaker 1: almost free. Now people are like, oh, bitcoin's too slow

503
00:23:47,200 --> 00:23:49,359
Speaker 1: and it's too expensive. Okay, that's the twenty sixteen argument.

504
00:23:49,440 --> 00:23:51,160
Speaker 1: Get what the time is here? Like, I can send

505
00:23:51,200 --> 00:23:53,720
Speaker 1: bitcoin faster and cheaper than any any nails right now.

506
00:23:54,200 --> 00:23:57,680
Speaker 1: And by the way, in my setup of the problem,

507
00:23:58,600 --> 00:24:02,560
Speaker 1: faster money was not one of them those things. So

508
00:24:02,600 --> 00:24:03,720
Speaker 1: a lot of times we were like, oh but this

509
00:24:03,760 --> 00:24:07,040
Speaker 1: one's faster. Okay, so we needed faster money. That's the

510
00:24:07,080 --> 00:24:09,800
Speaker 1: cure to all our problem. So like, understand what the

511
00:24:09,800 --> 00:24:11,840
Speaker 1: problem is. So if you understand the solution, right, So

512
00:24:11,840 --> 00:24:12,920
Speaker 1: now we have a way that we can store a

513
00:24:12,960 --> 00:24:15,080
Speaker 1: value in a way that can't be taken from us

514
00:24:15,520 --> 00:24:17,600
Speaker 1: if you think about it right back to like energy, Right,

515
00:24:17,600 --> 00:24:20,040
Speaker 1: So if I dig a hole for four hours and

516
00:24:20,119 --> 00:24:22,000
Speaker 1: I can earn enough to like live for that day,

517
00:24:22,040 --> 00:24:24,280
Speaker 1: what if I worked an extra for us, I worked

518
00:24:24,320 --> 00:24:26,399
Speaker 1: eight hours, Well, now I could save so I have

519
00:24:26,480 --> 00:24:28,080
Speaker 1: some money. So tomorrow I don't have to work. I

520
00:24:28,080 --> 00:24:29,800
Speaker 1: have the money I could pay. So really, if I

521
00:24:29,840 --> 00:24:31,800
Speaker 1: think about that money, it's like my energy.

522
00:24:32,240 --> 00:24:33,680
Speaker 2: It's like a battery like oxygen.

523
00:24:33,800 --> 00:24:35,679
Speaker 1: Yeah, but it's like I think of like a battery, right,

524
00:24:35,680 --> 00:24:37,800
Speaker 1: it's store that energy so I can deploy that energy tomorrow.

525
00:24:37,840 --> 00:24:39,560
Speaker 1: I don't have to work. I don't want to. But

526
00:24:39,840 --> 00:24:42,200
Speaker 1: you don't want your battery to be leaking, like you

527
00:24:42,200 --> 00:24:43,240
Speaker 1: don't want to come out in the morning, and I

528
00:24:43,280 --> 00:24:45,320
Speaker 1: can't start your car, right, And so that's what happens

529
00:24:45,320 --> 00:24:47,160
Speaker 1: with with dollars. And most people know this by now,

530
00:24:47,200 --> 00:24:49,040
Speaker 1: Like you don't store your wealth and dollars people. People

531
00:24:49,119 --> 00:24:52,320
Speaker 1: understand this, It's okay, But biitoin is this revolution where

532
00:24:52,400 --> 00:24:54,000
Speaker 1: now I have this way that I can store it

533
00:24:54,000 --> 00:24:56,320
Speaker 1: in a way that can't be debased. And it's just

534
00:24:56,359 --> 00:24:59,200
Speaker 1: real simple. I say. One of the two greatest tricks

535
00:24:59,240 --> 00:25:03,280
Speaker 1: the FED ever played was one telling people that we

536
00:25:03,320 --> 00:25:06,399
Speaker 1: needed our money supply to always expand, and two that

537
00:25:06,440 --> 00:25:08,800
Speaker 1: asset prices going up is a good thing. Neither of

538
00:25:08,800 --> 00:25:10,560
Speaker 1: those are true. We don't need our money supply to

539
00:25:10,560 --> 00:25:12,600
Speaker 1: go up. Would you rather have your money buy you

540
00:25:12,640 --> 00:25:14,760
Speaker 1: more goods and service in the future or less? And

541
00:25:14,800 --> 00:25:17,240
Speaker 1: so when you have an inflated inflated money supply, it

542
00:25:17,240 --> 00:25:20,200
Speaker 1: always buys you less. A fix my supply buys you more.

543
00:25:21,280 --> 00:25:23,880
Speaker 1: So that's sort of the premise as to why bitcoin Now,

544
00:25:25,320 --> 00:25:27,000
Speaker 1: I'd like to tell you why bitcoin and not the

545
00:25:27,040 --> 00:25:27,720
Speaker 1: other ones?

546
00:25:27,800 --> 00:25:30,800
Speaker 2: Yeah, because I'm writing down law of scarcity. This is

547
00:25:30,800 --> 00:25:33,800
Speaker 2: something that's that's that's big. And is that the difference

548
00:25:34,200 --> 00:25:37,560
Speaker 2: between gold and bitcoin or is it the ledger who

549
00:25:37,640 --> 00:25:38,680
Speaker 2: controls the ledgers?

550
00:25:39,000 --> 00:25:41,000
Speaker 1: It's all three of those, right. So in order to

551
00:25:41,000 --> 00:25:45,000
Speaker 1: have the attributes of sound money, you need portable, divisible, durable,

552
00:25:45,119 --> 00:25:47,760
Speaker 1: recognizable things like that, right. Gold is very durable. I

553
00:25:47,760 --> 00:25:49,280
Speaker 1: can sit in the bottom of the ocean forever. It

554
00:25:49,280 --> 00:25:52,000
Speaker 1: doesn't corrode, right, you can break it down, melt it.

555
00:25:52,040 --> 00:25:54,560
Speaker 1: So gold worked really well and it's the most scarce

556
00:25:54,600 --> 00:25:56,919
Speaker 1: out of the money. That's why won over silver. But

557
00:25:56,960 --> 00:26:03,359
Speaker 1: it's not portable and it's not easily verifiable. So with gold,

558
00:26:03,359 --> 00:26:05,080
Speaker 1: how do I know what the purity is? The waight

559
00:26:05,160 --> 00:26:07,000
Speaker 1: is So they've had all types of coinage and they've

560
00:26:07,000 --> 00:26:09,119
Speaker 1: done all types of things, but like you know, China

561
00:26:09,160 --> 00:26:11,720
Speaker 1: had gold bars with that were tungsten painted as gold, right,

562
00:26:11,760 --> 00:26:13,640
Speaker 1: So like, how do I verify if the gold is real?

563
00:26:13,720 --> 00:26:16,760
Speaker 1: So gold is certainly the best, but it's not portable, okay,

564
00:26:17,320 --> 00:26:20,439
Speaker 1: and it's not verifiable very easily. I need like some

565
00:26:20,480 --> 00:26:21,760
Speaker 1: spectrometer or something to do that.

566
00:26:21,840 --> 00:26:22,080
Speaker 2: Right.

567
00:26:22,160 --> 00:26:25,119
Speaker 1: So gold is and it's the most scarce, but bitcoin

568
00:26:25,160 --> 00:26:28,320
Speaker 1: is more. So Bitcoin is more scarce, Bitcoin is more portable, right,

569
00:26:28,359 --> 00:26:31,520
Speaker 1: and bitcoin is more verifiable. Right, So that's that's why

570
00:26:31,520 --> 00:26:32,240
Speaker 1: it wins over that.

571
00:26:32,480 --> 00:26:36,360
Speaker 2: Okay. So so now yeh dive into bitcoin over other

572
00:26:36,440 --> 00:26:39,959
Speaker 2: cryptocurrencies because even Trump the other day tweeted about it

573
00:26:40,000 --> 00:26:43,400
Speaker 2: was it back coin? Well that, but also like XRP

574
00:26:44,280 --> 00:26:48,399
Speaker 2: Solana he mentioned I don't know if you mentioned ethereum.

575
00:26:48,640 --> 00:26:50,560
Speaker 2: He mentioned it, and so all of those went.

576
00:26:50,520 --> 00:26:53,439
Speaker 1: Up, they went up, and they went back down. So

577
00:26:55,840 --> 00:26:58,440
Speaker 1: when it comes to so first we could talk about

578
00:26:58,440 --> 00:27:00,639
Speaker 1: bitcoin in regards to real estate and all the other assets,

579
00:27:00,680 --> 00:27:03,439
Speaker 1: but let's talk about in regards to cryptocurrency. So you

580
00:27:03,480 --> 00:27:05,560
Speaker 1: need to put a thousand hours in, but I'm giving

581
00:27:05,560 --> 00:27:09,240
Speaker 1: you the crash course here. So, like what is bitcoin?

582
00:27:09,359 --> 00:27:12,600
Speaker 1: So instead of having one database, so like Facebook or

583
00:27:12,800 --> 00:27:16,480
Speaker 1: MySpace or Experience, they're in like a database and there's

584
00:27:16,520 --> 00:27:18,720
Speaker 1: like it's in a company and there's like a cybersecurity

585
00:27:18,720 --> 00:27:20,480
Speaker 1: team that tries to protect it. But every database is

586
00:27:20,520 --> 00:27:25,119
Speaker 1: basically been hacked. Right, so Experience was hacked. I mean

587
00:27:25,119 --> 00:27:27,880
Speaker 1: the NSA was hacked, right, but what happened. What bitcoin

588
00:27:27,960 --> 00:27:30,639
Speaker 1: is is that revolutionary technology that we've never seen before.

589
00:27:30,720 --> 00:27:32,520
Speaker 1: And what it is instead of having one database, it's

590
00:27:32,560 --> 00:27:35,159
Speaker 1: a decentralized ledger. So we now have a thousand or

591
00:27:35,200 --> 00:27:37,359
Speaker 1: a million or ten million ledgers. So if I had

592
00:27:37,680 --> 00:27:40,480
Speaker 1: a bank with a billion dollars, that's a pretty big target.

593
00:27:40,480 --> 00:27:42,239
Speaker 1: Someone might might want to go attack that. But if

594
00:27:42,240 --> 00:27:45,040
Speaker 1: I have a billion banks with one dollar each, and

595
00:27:45,080 --> 00:27:48,120
Speaker 1: so we have this new decentralized ledger. And what happens

596
00:27:48,200 --> 00:27:51,439
Speaker 1: is it's only decentralized if everybody can run one. So

597
00:27:52,040 --> 00:27:55,240
Speaker 1: the bitcoin database is very small. It's about shoot, I

598
00:27:55,240 --> 00:27:56,520
Speaker 1: don't know what it is right now, probably four five

599
00:27:56,600 --> 00:27:59,240
Speaker 1: hundred gigabytes. So that means a kid in Africa with

600
00:27:59,320 --> 00:28:01,720
Speaker 1: like a five year old now top could run a

601
00:28:01,720 --> 00:28:04,480
Speaker 1: bitcoin database. So anyone in the world could run it.

602
00:28:04,480 --> 00:28:05,960
Speaker 1: You could put it onto a thumb drive. Anyone in

603
00:28:05,960 --> 00:28:08,960
Speaker 1: the world could run a database, which means it stays decentralized.

604
00:28:09,920 --> 00:28:12,520
Speaker 1: And what happened is in the beginning, if five people

605
00:28:12,560 --> 00:28:13,760
Speaker 1: run it, or ten people run it, or on a

606
00:28:13,800 --> 00:28:16,359
Speaker 1: hundred people run it's not very strong because what happens

607
00:28:16,400 --> 00:28:18,600
Speaker 1: is the database has to achieve consensus, so I finally

608
00:28:18,680 --> 00:28:20,560
Speaker 1: have to take over ten nodes or fifteen nodes or

609
00:28:20,600 --> 00:28:23,520
Speaker 1: thirty nodes. That's doable. Then we have the mining, so

610
00:28:23,560 --> 00:28:25,359
Speaker 1: we have the node, the database layer, and then we

611
00:28:25,400 --> 00:28:28,520
Speaker 1: have the mining layer. The mining layer is the digital energy,

612
00:28:28,560 --> 00:28:31,920
Speaker 1: so that's what protects the network, that's what processes the transactions.

613
00:28:32,080 --> 00:28:35,040
Speaker 1: So the mining the hashing power is so big, and

614
00:28:35,080 --> 00:28:36,520
Speaker 1: then the database is so big, so you have to

615
00:28:36,520 --> 00:28:38,880
Speaker 1: take over over half of that to even have a chance,

616
00:28:38,920 --> 00:28:40,480
Speaker 1: and you still wouldn't do it, but we have to

617
00:28:40,520 --> 00:28:42,520
Speaker 1: have a chance. So what happened is bitcoin was creating

618
00:28:42,560 --> 00:28:44,880
Speaker 1: this wrinkle in time. It was we call it this

619
00:28:44,920 --> 00:28:48,280
Speaker 1: immaculate conception. We don't know who created who stitutional komotive is,

620
00:28:48,320 --> 00:28:50,080
Speaker 1: but it was creating this in this in this wrinkle

621
00:28:50,080 --> 00:28:52,479
Speaker 1: in time, but nobody knew what it was, and it

622
00:28:52,520 --> 00:28:55,080
Speaker 1: was allowed to grow in the wild for about a

623
00:28:55,120 --> 00:28:58,200
Speaker 1: decade until people realize what was going on, and at

624
00:28:58,200 --> 00:29:01,160
Speaker 1: that point it was too big to kill. The problem

625
00:29:01,200 --> 00:29:03,480
Speaker 1: is today is there's no way to do that again.

626
00:29:03,600 --> 00:29:06,120
Speaker 1: I mean people have tried, okay, because what happens is

627
00:29:06,200 --> 00:29:10,640
Speaker 1: all the other you mentioned Ethereum Ada is one, he

628
00:29:10,760 --> 00:29:15,960
Speaker 1: mentioned Cardano Solana. Those are all basically just centralized ledgers

629
00:29:16,000 --> 00:29:18,520
Speaker 1: over a couple nodes. And the reason why is because

630
00:29:18,560 --> 00:29:21,720
Speaker 1: I can't run an ethereum node. The database is way

631
00:29:21,720 --> 00:29:24,160
Speaker 1: too big. I have to run a Prune version, a

632
00:29:24,240 --> 00:29:27,280
Speaker 1: cryptn version on a professional server in a professional co

633
00:29:27,440 --> 00:29:31,440
Speaker 1: location facility. Kidnappricing can't do that. Hey, small business owner,

634
00:29:31,640 --> 00:29:34,400
Speaker 1: are you buried in all types of work keeping you

635
00:29:34,440 --> 00:29:37,040
Speaker 1: from the real thing that makes you money? Well that's

636
00:29:37,040 --> 00:29:39,040
Speaker 1: where just Works comes in. They're the all in one

637
00:29:39,080 --> 00:29:42,400
Speaker 1: platform that supports small business growth. You can get all

638
00:29:42,480 --> 00:29:45,680
Speaker 1: their tools that help with benefits like payroll and HR

639
00:29:45,800 --> 00:29:49,800
Speaker 1: and compliance with transparent pricing. Now they help you hire

640
00:29:49,880 --> 00:29:54,560
Speaker 1: top talent internationally, internew markets, quickly scale international operations without

641
00:29:54,560 --> 00:29:57,640
Speaker 1: the workload, and for every how do I do it? Question,

642
00:29:57,800 --> 00:30:00,800
Speaker 1: you can reach out to their expert staff from proprietor

643
00:30:01,120 --> 00:30:04,520
Speaker 1: or a team of twenty. Just Works empowers all kinds

644
00:30:04,560 --> 00:30:08,560
Speaker 1: of small businesses with real human support. So visit justworks

645
00:30:08,600 --> 00:30:11,960
Speaker 1: dot com slash podcast to join the thousands of small

646
00:30:12,000 --> 00:30:15,640
Speaker 1: businesses that trust Just Works to take care of payroll, benefits,

647
00:30:15,800 --> 00:30:20,560
Speaker 1: compliance and more. Again that's Just Works dot com slash podcast.

648
00:30:22,600 --> 00:30:26,920
Speaker 1: And so it's created this centralization and so only Bigoin

649
00:30:26,960 --> 00:30:28,440
Speaker 1: has done that. Now other people have tried to do

650
00:30:28,440 --> 00:30:30,200
Speaker 1: something similar, but the problem is now that we know

651
00:30:30,240 --> 00:30:33,320
Speaker 1: about it, it gets attacked immediately. People attack that, they'll double spend,

652
00:30:33,320 --> 00:30:36,000
Speaker 1: they'll steal money off of it, and so now nothing

653
00:30:36,080 --> 00:30:39,400
Speaker 1: can get big enough. It's kind of like when you

654
00:30:39,400 --> 00:30:44,640
Speaker 1: have an invasive species. A rabbit comes over to Australia

655
00:30:44,720 --> 00:30:47,840
Speaker 1: and they don't have a rabbit, or a fish comes

656
00:30:47,880 --> 00:30:49,480
Speaker 1: in we have this problem all over the US, like

657
00:30:49,600 --> 00:30:52,120
Speaker 1: muscles come in or a fish comes in, right, and

658
00:30:52,160 --> 00:30:55,800
Speaker 1: it takes over that habitat, and once it's taken over, like,

659
00:30:56,840 --> 00:30:58,720
Speaker 1: there's nothing else that can really come in and take that.

660
00:30:58,760 --> 00:31:00,440
Speaker 1: So Bitcoin sort of grew in the space and there's

661
00:31:00,440 --> 00:31:02,360
Speaker 1: just nothing else that can be there and that and

662
00:31:02,400 --> 00:31:04,200
Speaker 1: that's why nothing else And so you have to understand

663
00:31:04,240 --> 00:31:06,760
Speaker 1: the technical side of things. What we want is something

664
00:31:06,760 --> 00:31:09,640
Speaker 1: that nobody can control. Ethereum has changed their monetary supply

665
00:31:09,800 --> 00:31:11,320
Speaker 1: like three times in the last two or three.

666
00:31:11,240 --> 00:31:12,880
Speaker 2: Years, a lot of scarcity. He goes out the window.

667
00:31:12,960 --> 00:31:15,760
Speaker 1: And all these other coins, Cardano and xorp they have

668
00:31:15,800 --> 00:31:19,280
Speaker 1: something called governance. They all have governance. So what that

669
00:31:19,360 --> 00:31:22,040
Speaker 1: means is that they have staking. So whoever has the

670
00:31:22,080 --> 00:31:25,120
Speaker 1: most tokens stakes them and whoever has the most token

671
00:31:25,240 --> 00:31:28,040
Speaker 1: staked gets the most votes, and then they vote on

672
00:31:28,400 --> 00:31:29,760
Speaker 1: changes on the on the.

673
00:31:29,680 --> 00:31:31,719
Speaker 2: Oup And none of that exists in bitcoin.

674
00:31:32,240 --> 00:31:35,360
Speaker 1: There is no consensus. I mean, I'm sorry, there's no governance. Yeah,

675
00:31:35,400 --> 00:31:38,520
Speaker 1: it's it's rules, not rulers.

676
00:31:38,920 --> 00:31:42,280
Speaker 2: Yeap. What are some of the biggest conspiracy theories when

677
00:31:42,320 --> 00:31:43,840
Speaker 2: it comes to like the fact that we don't actually

678
00:31:43,880 --> 00:31:47,440
Speaker 2: know who started bitcoin, and like, I'm going to ask

679
00:31:47,480 --> 00:31:50,560
Speaker 2: you to do something difficult, like play Devil's Advocate to like,

680
00:31:50,600 --> 00:31:53,560
Speaker 2: what are some of the biggest cons you think that

681
00:31:53,680 --> 00:31:54,880
Speaker 2: bitcoin has?

682
00:31:55,120 --> 00:31:55,239
Speaker 1: Uh?

683
00:31:55,560 --> 00:31:55,880
Speaker 2: Is it?

684
00:31:55,920 --> 00:31:56,120
Speaker 1: Is it?

685
00:31:56,120 --> 00:31:58,040
Speaker 2: Because I know a talking point back in the day

686
00:31:58,160 --> 00:31:59,680
Speaker 2: was like, it's going to get to a place where

687
00:31:59,680 --> 00:32:01,720
Speaker 2: it's going to be too hard to mine and it's

688
00:32:01,720 --> 00:32:04,200
Speaker 2: going to cost too much and energy. And I talked

689
00:32:04,240 --> 00:32:06,640
Speaker 2: to someone yesterday that says the amount of water that's

690
00:32:06,680 --> 00:32:09,560
Speaker 2: going to have to be used to cool down these machines.

691
00:32:09,600 --> 00:32:12,240
Speaker 2: And so you have some environmentalist people like what are

692
00:32:12,280 --> 00:32:13,040
Speaker 2: something None.

693
00:32:12,920 --> 00:32:16,200
Speaker 1: Of that's true. Okay, none of that's true. I can

694
00:32:16,240 --> 00:32:18,080
Speaker 1: go through each one of those one by one. But

695
00:32:18,120 --> 00:32:19,880
Speaker 1: if you ask me, what is the biggest one today

696
00:32:19,920 --> 00:32:23,000
Speaker 1: that I can think of? Uh, the only threat that

697
00:32:23,000 --> 00:32:25,920
Speaker 1: bitcoin had, we've defeated all those narratives. Now we've even

698
00:32:25,960 --> 00:32:28,120
Speaker 1: defeated the what the government will make it illegal. We've

699
00:32:28,120 --> 00:32:31,840
Speaker 1: defeated that one as well. Obviously, right, Trump has now

700
00:32:31,880 --> 00:32:34,320
Speaker 1: created a strategic bitcoin reserve. It's in the US government.

701
00:32:34,360 --> 00:32:36,600
Speaker 1: He said that the US will be the bitcoin powerhouse

702
00:32:36,600 --> 00:32:38,680
Speaker 1: of the world. Like anyone who's not the government's going

703
00:32:38,760 --> 00:32:40,400
Speaker 1: to make it illegal, Like that's out the window too.

704
00:32:40,680 --> 00:32:45,440
Speaker 1: The biggest one is if if bitcoin can stay decentralized

705
00:32:45,440 --> 00:32:49,480
Speaker 1: and secure, that's just can it? If If as long

706
00:32:49,520 --> 00:32:54,320
Speaker 1: as it continue to stay decentralized and secure, that's it.

707
00:32:54,360 --> 00:32:57,120
Speaker 1: That's the biggest threat. Now, what would have to happen

708
00:32:57,160 --> 00:33:01,680
Speaker 1: for not to be trust me? Over the last seven

709
00:33:01,720 --> 00:33:03,800
Speaker 1: eight years, at all these conferences and events I speak at,

710
00:33:03,840 --> 00:33:06,200
Speaker 1: we stay up late at night playing game theory, and

711
00:33:06,880 --> 00:33:10,960
Speaker 1: I don't know the answer for that. Theoretically it's impossible.

712
00:33:11,200 --> 00:33:18,959
Speaker 1: But anything can happen, right, So possibilities are endless, Probabilities

713
00:33:19,080 --> 00:33:21,560
Speaker 1: are few, so the probability of that happening is very low.

714
00:33:23,000 --> 00:33:24,800
Speaker 1: But some of these things, let's talk about the energy

715
00:33:24,840 --> 00:33:30,160
Speaker 1: one for example. First of all, anyone who says that

716
00:33:30,280 --> 00:33:32,480
Speaker 1: argument should just be disregarded in the first place. And

717
00:33:32,760 --> 00:33:37,000
Speaker 1: here's why. And anyone who knows anything basic stuff knows

718
00:33:37,080 --> 00:33:39,160
Speaker 1: that the wealth of a nation comes from the amount

719
00:33:39,200 --> 00:33:42,320
Speaker 1: of energy they have. The poorest nations in the world

720
00:33:42,400 --> 00:33:45,440
Speaker 1: have no energy, like people in Africa whose kids die

721
00:33:45,560 --> 00:33:48,000
Speaker 1: every single day because they don't even have a hospital

722
00:33:48,080 --> 00:33:50,760
Speaker 1: or an incubator to put their baby in. Wealth of

723
00:33:50,840 --> 00:33:53,480
Speaker 1: nations comes from the energy they have. Energy is a

724
00:33:53,520 --> 00:33:55,440
Speaker 1: good thing, not a bad thing. So anyone who says

725
00:33:55,480 --> 00:33:57,400
Speaker 1: that rapt bactial just be disregarded. But they also don't

726
00:33:57,440 --> 00:34:02,440
Speaker 1: understand biquin either. So in order to make bitcoin mining profitable,

727
00:34:02,840 --> 00:34:06,920
Speaker 1: you need to have about three cents per killowod hour

728
00:34:07,040 --> 00:34:10,960
Speaker 1: power or less. Here in California in the summer, we

729
00:34:11,000 --> 00:34:12,680
Speaker 1: have a tiered system. At the top of the tier

730
00:34:12,800 --> 00:34:16,720
Speaker 1: is forty cents per kilowat hour. You can't mind bitcoin

731
00:34:16,760 --> 00:34:20,680
Speaker 1: in California. So if it's forty cents in California, why

732
00:34:20,760 --> 00:34:24,360
Speaker 1: would someone sell it for three? Well, the law of

733
00:34:24,360 --> 00:34:26,839
Speaker 1: supply and demand is not very basic, and it would

734
00:34:26,880 --> 00:34:29,319
Speaker 1: basically tell me the only reason why someone would sell

735
00:34:29,360 --> 00:34:32,080
Speaker 1: it for three is if they created the energy but

736
00:34:32,160 --> 00:34:35,840
Speaker 1: have no buyers for it. So what happens is the

737
00:34:35,840 --> 00:34:38,560
Speaker 1: way the energy system works, especially now they've completely screwed

738
00:34:38,680 --> 00:34:41,080
Speaker 1: up by putting unreliable power in there from wind and solar,

739
00:34:41,440 --> 00:34:43,080
Speaker 1: is that when I turn my switch on, I expect

740
00:34:43,120 --> 00:34:47,480
Speaker 1: electricity to come on. So we need to always have powers.

741
00:34:47,520 --> 00:34:49,360
Speaker 1: We have baseload, but we also have to be prepared

742
00:34:49,360 --> 00:34:51,960
Speaker 1: for peaks. It gets hot, everyone turns to AC on whatever.

743
00:34:52,280 --> 00:34:55,360
Speaker 1: So what happens is now in unreliable power, wind and solar.

744
00:34:55,480 --> 00:34:57,960
Speaker 1: Sometimes it's not windy and sometimes it's not sunny, and

745
00:34:58,040 --> 00:34:59,880
Speaker 1: so now we have this problem. And so they've been

746
00:35:00,000 --> 00:35:03,160
Speaker 1: building what they call peaker plants. They build an entire

747
00:35:03,320 --> 00:35:06,399
Speaker 1: other plant to be run in the event they need

748
00:35:06,440 --> 00:35:08,960
Speaker 1: more power. So we have this place all over the

749
00:35:08,960 --> 00:35:12,240
Speaker 1: world where power is being created but not being used.

750
00:35:12,640 --> 00:35:14,920
Speaker 1: That would be what I would call the definition of waste.

751
00:35:15,719 --> 00:35:18,080
Speaker 1: They say bitcoin is wasting energy. If you use something,

752
00:35:18,120 --> 00:35:20,840
Speaker 1: that's not a waste, but they're literally making energy and

753
00:35:20,920 --> 00:35:24,160
Speaker 1: not using it. That's a waste. And so bitcoin can

754
00:35:24,239 --> 00:35:28,400
Speaker 1: only operate on wasted energy, energy that's already been created

755
00:35:28,440 --> 00:35:31,319
Speaker 1: and is not being used. And once it starts being used,

756
00:35:31,360 --> 00:35:34,520
Speaker 1: the price starts going up. Competition goes to five cents,

757
00:35:34,560 --> 00:35:37,719
Speaker 1: seven cents, and bitcoin has to pack up and move

758
00:35:37,760 --> 00:35:42,399
Speaker 1: to another district where it's cheaper. And so yeah, anyone

759
00:35:42,440 --> 00:35:43,880
Speaker 1: who said that, first of all, they don't understand ergy

760
00:35:43,960 --> 00:35:45,919
Speaker 1: number two. They don't understand bitcoin at all. So I'd

761
00:35:45,960 --> 00:35:48,640
Speaker 1: say that, and yeah, who cares about that? But ultimately

762
00:35:48,640 --> 00:35:53,880
Speaker 1: I would just say, like bitcoin is the apex predator

763
00:35:53,960 --> 00:35:57,600
Speaker 1: of assets, and the reason why is because all the

764
00:35:57,640 --> 00:36:02,239
Speaker 1: forms of storing our capital today are five to seven

765
00:36:02,320 --> 00:36:06,200
Speaker 1: hundred years old. Stocks equities, right, how long ago was

766
00:36:06,239 --> 00:36:09,560
Speaker 1: that created? Right? The Dutch? The Dutch created a market,

767
00:36:09,600 --> 00:36:10,960
Speaker 1: you know, the stock market. So we have all these

768
00:36:10,960 --> 00:36:14,160
Speaker 1: different assets, and like real estate seems like a good asset,

769
00:36:14,160 --> 00:36:16,240
Speaker 1: but when you look at the maintenance and the property

770
00:36:16,280 --> 00:36:18,800
Speaker 1: taxes and understand what's going on with that, or gold,

771
00:36:18,840 --> 00:36:20,560
Speaker 1: Like where could you have put gold one hundred years

772
00:36:20,560 --> 00:36:23,319
Speaker 1: ago that would still be there today? Yeah, right, and

773
00:36:23,400 --> 00:36:27,120
Speaker 1: so then you look at okay, so then we can

774
00:36:27,160 --> 00:36:30,040
Speaker 1: go into an I'm just gonna throw this out there.

775
00:36:30,080 --> 00:36:31,520
Speaker 1: We don't have time to go down this rabbit hole.

776
00:36:32,480 --> 00:36:36,240
Speaker 1: But if you think about oil, oil is an asset.

777
00:36:36,280 --> 00:36:39,440
Speaker 1: Oil is a commodity. Bitcoin is an asset. Bitcoin's a commodity,

778
00:36:39,800 --> 00:36:42,799
Speaker 1: a commodity being different than in equity, a commodity being

779
00:36:42,840 --> 00:36:44,759
Speaker 1: that anyone anywhere in the world will get it right.

780
00:36:45,239 --> 00:36:47,080
Speaker 1: It's fungible matter where you get it right. There's no

781
00:36:47,120 --> 00:36:50,000
Speaker 1: common issuer, right, whether it's wheat or oranges or oil.

782
00:36:50,080 --> 00:36:53,520
Speaker 1: So bitcoin is that. But you have oil as an asset,

783
00:36:53,600 --> 00:36:56,440
Speaker 1: a commodity that sits around sixty to eighty bucks a

784
00:36:56,440 --> 00:37:00,320
Speaker 1: barrow for the last fifty years, so it buying oil

785
00:37:00,360 --> 00:37:03,640
Speaker 1: itself isn't necessarily the best thing. But there's an oil

786
00:37:03,760 --> 00:37:06,920
Speaker 1: industry that's the eighth largest industry in the world worth

787
00:37:06,960 --> 00:37:09,480
Speaker 1: four point eight trillion dollars. So who made the pressure

788
00:37:09,520 --> 00:37:11,719
Speaker 1: sensor for the oil pipeliner? Who made the sanar for

789
00:37:11,760 --> 00:37:14,200
Speaker 1: the oil tinker? Right? And so we have bitcoin, But

790
00:37:14,239 --> 00:37:16,239
Speaker 1: now we have this bitcoin asset. So when I talk

791
00:37:16,280 --> 00:37:20,600
Speaker 1: about energy systems, for example, bitcoin is now transforming our

792
00:37:20,680 --> 00:37:23,960
Speaker 1: energy grids across the entire world. So we haven't thought

793
00:37:23,960 --> 00:37:25,359
Speaker 1: about that. But if we just think about it from

794
00:37:25,400 --> 00:37:29,000
Speaker 1: assets specifically, and only store value assets, what are the

795
00:37:29,080 --> 00:37:36,520
Speaker 1: things that we're using currently to store our value? Real estate, bonds, equities, cash,

796
00:37:37,200 --> 00:37:41,520
Speaker 1: offshore bank accounts, fine art, collectible's gold. Right now today

797
00:37:41,520 --> 00:37:45,719
Speaker 1: that total is about nine hundred trillion dollars. Now that

798
00:37:46,360 --> 00:37:48,879
Speaker 1: pie continues to grow, So as we continue to pret

799
00:37:48,880 --> 00:37:51,640
Speaker 1: more money that grows at the rate that we're on,

800
00:37:52,360 --> 00:37:55,279
Speaker 1: that nine hundred trillion, by twenty thirty will be one

801
00:37:55,320 --> 00:38:00,120
Speaker 1: point three quadrillion total store value assets. And then you

802
00:38:00,120 --> 00:38:02,880
Speaker 1: just ask yourself, there's thirty to forty trillion in off

803
00:38:02,880 --> 00:38:05,399
Speaker 1: shore bank accounts. Is bitcoin better than that? Sure?

804
00:38:05,560 --> 00:38:07,640
Speaker 2: You start lining it up and you're like Bitcoin is

805
00:38:07,640 --> 00:38:08,919
Speaker 2: superior over all this things.

806
00:38:08,920 --> 00:38:10,560
Speaker 1: It's superior over all those stuff. It doesn't mean they

807
00:38:10,600 --> 00:38:12,279
Speaker 1: all go to zero. What it does mean is that

808
00:38:12,360 --> 00:38:16,000
Speaker 1: Uber is superior to taxis. Taxis are still there today,

809
00:38:16,360 --> 00:38:18,920
Speaker 1: but Uber pulled value. So we have from a venture

810
00:38:18,920 --> 00:38:21,759
Speaker 1: capital lens, we have disruptive technology. We look at the

811
00:38:21,760 --> 00:38:25,200
Speaker 1: market size that it's disrupting. We estimate what a percentage

812
00:38:25,239 --> 00:38:28,320
Speaker 1: we think we can capture from that industry. So Uber

813
00:38:28,440 --> 00:38:31,120
Speaker 1: and Airbnb both captured ten percent of their markets within

814
00:38:31,239 --> 00:38:34,400
Speaker 1: ten years. So then the question is, if bitcoin is

815
00:38:34,400 --> 00:38:37,160
Speaker 1: superior to all those other assets, what percentage of that

816
00:38:37,239 --> 00:38:40,440
Speaker 1: pie do we think is realistic to capture. If it

817
00:38:40,480 --> 00:38:47,759
Speaker 1: could capture one point five percent by twenty thirty, that

818
00:38:47,840 --> 00:38:51,319
Speaker 1: puts it at one million dollars per bitcoin. Wow, now

819
00:38:51,320 --> 00:38:54,480
Speaker 1: that's by twenty thirty, that's twenty five and that's less

820
00:38:54,480 --> 00:38:56,560
Speaker 1: than two percent, is less than to percent. That's twenty

821
00:38:56,640 --> 00:38:58,480
Speaker 1: years after it came out. Uber and Airbnb tod ten

822
00:38:58,520 --> 00:38:59,440
Speaker 1: percent ten years.

823
00:38:59,719 --> 00:39:05,040
Speaker 2: So yeah, that's mark. You have a gift. I've I've

824
00:39:05,040 --> 00:39:07,680
Speaker 2: talked to lots of people and you laid it out

825
00:39:07,960 --> 00:39:10,040
Speaker 2: this better than I've ever heard before. So thank you.

826
00:39:10,840 --> 00:39:13,919
Speaker 2: Were times limited I can we rapid fire some things.

827
00:39:14,000 --> 00:39:14,640
Speaker 1: Let's do it. U.

828
00:39:15,280 --> 00:39:18,080
Speaker 2: I want to understand quickly about the government crypto reserve,

829
00:39:18,280 --> 00:39:19,840
Speaker 2: and like what what what that means?

830
00:39:20,160 --> 00:39:24,759
Speaker 1: So the government crypto reserve. Trump is the master negotiator, YEA.

831
00:39:25,120 --> 00:39:27,080
Speaker 1: The Art of the Deal. He read it, he wrote it.

832
00:39:27,120 --> 00:39:29,440
Speaker 1: If you haven't read the book, just read it. And

833
00:39:29,520 --> 00:39:32,160
Speaker 1: so what one of the one of one tool that

834
00:39:32,200 --> 00:39:35,560
Speaker 1: you have in negotiating is something called anchoring. So you

835
00:39:35,600 --> 00:39:38,279
Speaker 1: throw out something big to anchor or or shift the

836
00:39:38,280 --> 00:39:41,719
Speaker 1: overton window as we call it. Right, So Trump throws

837
00:39:41,719 --> 00:39:44,600
Speaker 1: out crazy things and you think he's crazy nothing. By

838
00:39:44,640 --> 00:39:47,000
Speaker 1: the way, I just listened last night there's an interview

839
00:39:47,360 --> 00:39:50,640
Speaker 1: with Howard Lutnik from the All In, All In podcasts.

840
00:39:50,680 --> 00:39:51,360
Speaker 1: Have you listened to it?

841
00:39:51,440 --> 00:39:52,680
Speaker 2: I have not listened to it, but it's.

842
00:39:52,880 --> 00:39:54,799
Speaker 1: I saw everybody say it's the best interview in the world.

843
00:39:54,800 --> 00:39:57,920
Speaker 1: I watched it last night and I went, holy crap,

844
00:39:58,040 --> 00:40:01,000
Speaker 1: we have the very smartest people in the entire world.

845
00:40:01,200 --> 00:40:03,240
Speaker 2: I've seen clips and it's it's pretty exciting.

846
00:40:03,320 --> 00:40:05,719
Speaker 1: Wow. But anyway, and he puts he's known Trump for

847
00:40:05,760 --> 00:40:07,640
Speaker 1: thirty five years. He paints a picture of him. He

848
00:40:07,719 --> 00:40:10,400
Speaker 1: is not an idiot. Everything he says, is perfectly measured.

849
00:40:10,440 --> 00:40:13,880
Speaker 1: So he came out and said that, well, first in

850
00:40:14,239 --> 00:40:17,120
Speaker 1: the in the in the presidential run, you had burnt

851
00:40:17,239 --> 00:40:21,200
Speaker 1: uh or you had RFK Junior, sorry, still running at

852
00:40:21,200 --> 00:40:23,000
Speaker 1: that time, and he came to the Bitcoin conference said

853
00:40:23,000 --> 00:40:25,160
Speaker 1: he wanted to create a state biccoin reserve. Well, Trump,

854
00:40:25,160 --> 00:40:26,719
Speaker 1: not to be outdone, said well, I'll do that as well.

855
00:40:26,760 --> 00:40:31,000
Speaker 1: Obviously they're working together now, so we also have Senator

856
00:40:31,040 --> 00:40:33,680
Speaker 1: Lummis from Wyoming has already submitted a bill to also

857
00:40:33,760 --> 00:40:35,359
Speaker 1: create this in the government, and lots of people are

858
00:40:35,360 --> 00:40:37,719
Speaker 1: backing this. Now. What Trump did is he came out

859
00:40:37,719 --> 00:40:40,319
Speaker 1: and said, maybe it'll be a crypto asset reserve, and

860
00:40:40,360 --> 00:40:43,319
Speaker 1: maybe we'll do Cardano, when we'll do Solon and all

861
00:40:43,320 --> 00:40:44,799
Speaker 1: these things, and he just kind of threw out all

862
00:40:44,800 --> 00:40:47,960
Speaker 1: that crap and basically got everyone outraged. And not just everybody.

863
00:40:48,880 --> 00:40:51,719
Speaker 1: Brian Armstrong, the CEO of coinbase, which makes all its

864
00:40:51,719 --> 00:40:54,640
Speaker 1: money from people trading those assets, came out and said, whoa, whoa, whoa,

865
00:40:54,680 --> 00:40:57,440
Speaker 1: you can't do that. Only Bitcoin. The head of the

866
00:40:57,520 --> 00:40:59,839
Speaker 1: creator of Solana, came out and said, well even though

867
00:40:59,840 --> 00:41:01,640
Speaker 1: his coin that mentioned, he said, whoa, whoa, whoa, whoa

868
00:41:01,719 --> 00:41:04,680
Speaker 1: we can't like, hang on, hang on, and so everyone's like, no, no,

869
00:41:04,719 --> 00:41:07,799
Speaker 1: just bitcoins is bitcoin. And then bitcoin went through and

870
00:41:07,840 --> 00:41:11,360
Speaker 1: they were very clear when it went through that it

871
00:41:11,440 --> 00:41:14,440
Speaker 1: is only bitcoin. Everything else will be looked at completely

872
00:41:14,440 --> 00:41:16,719
Speaker 1: ply different, will be treated completely different. And they made

873
00:41:16,800 --> 00:41:18,799
Speaker 1: this big differentiator line.

874
00:41:18,880 --> 00:41:21,520
Speaker 2: Does that mean the US is just going to stockpile bitcoin?

875
00:41:22,120 --> 00:41:25,200
Speaker 1: I mean, we don't know exactly, so the details of

876
00:41:25,239 --> 00:41:27,839
Speaker 1: it have not been fully fleshed out. So he said,

877
00:41:27,880 --> 00:41:30,480
Speaker 1: as of right now, any government owned bitcoin that we

878
00:41:30,520 --> 00:41:32,360
Speaker 1: have currently, which was about two hundred thousand or the

879
00:41:32,360 --> 00:41:35,160
Speaker 1: bide administration, but we believe that they've been secretly selling

880
00:41:35,160 --> 00:41:37,680
Speaker 1: it off. But whatever we have left on the books,

881
00:41:37,680 --> 00:41:39,920
Speaker 1: will we kept about two hundred thousand, it's about one

882
00:41:39,920 --> 00:41:43,080
Speaker 1: percent of the suppot. And then they are going to

883
00:41:43,120 --> 00:41:45,560
Speaker 1: create a plan to continue to buy more bitcoin. But

884
00:41:45,600 --> 00:41:49,839
Speaker 1: he called it in a budget neutral way. So what

885
00:41:49,880 --> 00:41:52,279
Speaker 1: can we do to get bitcoin without paying for it?

886
00:41:52,280 --> 00:41:55,400
Speaker 1: Because taxpayers may object to that? So could we trade

887
00:41:55,400 --> 00:41:57,640
Speaker 1: gold for it? You know, could we do it through terror?

888
00:41:57,800 --> 00:42:00,200
Speaker 1: What can we do in a budget neutral way? That's

889
00:42:00,239 --> 00:42:02,160
Speaker 1: what we don't know the details of that yet. But

890
00:42:02,239 --> 00:42:05,960
Speaker 1: when you listen to this interview of Howard Lutnik, who's running. Dude,

891
00:42:05,960 --> 00:42:07,839
Speaker 1: the guy is so smart. You have to listen to this.

892
00:42:07,920 --> 00:42:11,000
Speaker 1: But like he's he's he's helping. He's the Commerce Secretary,

893
00:42:11,120 --> 00:42:12,920
Speaker 1: so he's helping set up this the not only the

894
00:42:13,040 --> 00:42:16,560
Speaker 1: sovereign the Strategic bigcom Reserve, but the Sovereign Wealth Fund

895
00:42:17,560 --> 00:42:19,560
Speaker 1: and so both of those will have bitcoin. Let me

896
00:42:19,560 --> 00:42:23,560
Speaker 1: paint this picture for you. So Howard Lutnik, dude, listen

897
00:42:23,600 --> 00:42:25,919
Speaker 1: to this interview. The guy is so friggin smart. Yeah.

898
00:42:25,960 --> 00:42:28,520
Speaker 1: He owns a company called Cantor Fitzgerald. Right, it's a

899
00:42:28,520 --> 00:42:32,040
Speaker 1: billion dollar Wall Street fund, right, and he had the

900
00:42:32,080 --> 00:42:34,240
Speaker 1: top five floors of the World Trade Center. His company

901
00:42:34,239 --> 00:42:36,319
Speaker 1: got bombed out. Six hundred people that work for him died.

902
00:42:36,719 --> 00:42:39,959
Speaker 1: His company got destroyed. He rebuilt everything, so he's built

903
00:42:39,960 --> 00:42:43,400
Speaker 1: it from the ground up multiple times. Cantor Fitzgerald announced

904
00:42:43,400 --> 00:42:45,720
Speaker 1: that they are going to open up a two billion

905
00:42:45,760 --> 00:42:49,960
Speaker 1: dollars bitcoin equity facility or credit line, So basically institutions

906
00:42:50,080 --> 00:42:51,440
Speaker 1: don't have to sell the bitcoin and they can tap

907
00:42:51,480 --> 00:42:53,399
Speaker 1: into the equity. So that brings two billion dollars back

908
00:42:53,920 --> 00:42:56,360
Speaker 1: to the market. So Cantor Fitzgerald now is sitting in

909
00:42:56,400 --> 00:42:59,959
Speaker 1: the center of this of this bit of this bitcoin web,

910
00:43:00,120 --> 00:43:03,319
Speaker 1: let's call it. Well. Cantor Fitzgerald now also bought a

911
00:43:03,400 --> 00:43:07,080
Speaker 1: billion dollars in micro Strategy in Q four of last year,

912
00:43:07,480 --> 00:43:10,919
Speaker 1: just recently. Whoever's listening to this, you're not smarter than

913
00:43:11,640 --> 00:43:14,520
Speaker 1: Howard Lutnik, You're not smarter than him. He put a

914
00:43:14,520 --> 00:43:16,120
Speaker 1: billion dollars in mic strates. To all these people, Well,

915
00:43:16,200 --> 00:43:18,960
Speaker 1: micro strategy a scam, ponzi. Okay, you're not smarter than him.

916
00:43:18,960 --> 00:43:20,879
Speaker 1: They put a billion dollars that's like forty percent into

917
00:43:20,960 --> 00:43:24,680
Speaker 1: micro Strategy. On the other side, they invested into Tether.

918
00:43:24,880 --> 00:43:27,160
Speaker 1: Tether is the largest stable coin company in the world,

919
00:43:27,600 --> 00:43:29,839
Speaker 1: but that is putting their treasury into bitcoin as well.

920
00:43:30,360 --> 00:43:35,080
Speaker 1: So we have Lutnick, Cantor Fitzgerald, we have micro Strategy,

921
00:43:35,120 --> 00:43:38,440
Speaker 1: and we have Tether. Here now, in his role in

922
00:43:38,480 --> 00:43:42,759
Speaker 1: the government, he's creating the SBR and a Sovereign Wealth

923
00:43:42,760 --> 00:43:47,120
Speaker 1: Fund which will both be centered around bitcoin. Yep, And

924
00:43:47,160 --> 00:43:49,840
Speaker 1: you're bearish, like we have this. One of the smartest

925
00:43:49,840 --> 00:43:51,840
Speaker 1: guys in the world built multiple billions of dollars multiple

926
00:43:51,840 --> 00:43:55,319
Speaker 1: times running the government, building these operations and having his

927
00:43:55,400 --> 00:43:57,440
Speaker 1: money where his mouth is in three different companies that

928
00:43:57,480 --> 00:44:01,799
Speaker 1: are benefiting from this right, and it's made. I just

929
00:44:01,840 --> 00:44:04,160
Speaker 1: made this video on YouTube and I told Mauricio that

930
00:44:04,200 --> 00:44:07,000
Speaker 1: I felt bad now this morning because I watched that video.

931
00:44:09,360 --> 00:44:11,160
Speaker 1: I kind of said, like, hey, he's in the government,

932
00:44:11,200 --> 00:44:13,399
Speaker 1: he's pumping this thing up whatever, and it maybe looked

933
00:44:13,400 --> 00:44:15,280
Speaker 1: at maybe like made it look like a little scammy.

934
00:44:15,320 --> 00:44:17,040
Speaker 1: I didn't for it to be that way. But after

935
00:44:17,080 --> 00:44:19,600
Speaker 1: watching this video, the guy is so smart and he

936
00:44:19,760 --> 00:44:22,480
Speaker 1: is a true American patriot. Like, listen to video. He's

937
00:44:22,480 --> 00:44:26,440
Speaker 1: a true American patriot. And they're not doing it to

938
00:44:26,480 --> 00:44:29,719
Speaker 1: pump their bags. They're not doing it for that. They

939
00:44:29,760 --> 00:44:31,839
Speaker 1: realize it's the best asset in the world. Yeah, they

940
00:44:31,880 --> 00:44:35,040
Speaker 1: realized history. Right, So when China in the late eighteen

941
00:44:35,120 --> 00:44:37,000
Speaker 1: hundreds decided that they were going to stay with the

942
00:44:37,000 --> 00:44:39,280
Speaker 1: silver standard, when the whole world went to a gold standard,

943
00:44:39,480 --> 00:44:41,880
Speaker 1: she kind of lost their place in the world. And

944
00:44:42,120 --> 00:44:44,200
Speaker 1: it's taken them one hundred years to come back.

945
00:44:44,320 --> 00:44:46,520
Speaker 2: Yeah, with the last two minutes, there's a lot of

946
00:44:46,560 --> 00:44:49,160
Speaker 2: questions I don't want to ask, but we are we

947
00:44:49,200 --> 00:44:52,680
Speaker 2: are the wealthiest country because of the American dollar. How

948
00:44:52,719 --> 00:44:58,040
Speaker 2: does crypto? Does crypto threat the US dollar? And then

949
00:44:58,120 --> 00:45:00,479
Speaker 2: let's land the plane because I know we have stop.

950
00:45:00,600 --> 00:45:02,480
Speaker 1: Well, we're not just this, We're not just the wealthiest

951
00:45:02,480 --> 00:45:04,560
Speaker 1: country in the world from the US dollar. Howard Lutnik

952
00:45:04,600 --> 00:45:07,480
Speaker 1: put this into perspective. So you always hear about the

953
00:45:07,640 --> 00:45:12,360
Speaker 1: GDP of the country. You hear about the revenue of

954
00:45:12,400 --> 00:45:15,799
Speaker 1: the country. You're about the debt of the country. As

955
00:45:15,840 --> 00:45:20,239
Speaker 1: a business owner, there's still a number missing. So we

956
00:45:20,320 --> 00:45:24,080
Speaker 1: have thirty six trillion dollars in debt, We have twenty

957
00:45:24,160 --> 00:45:28,400
Speaker 1: nine trillion of GDP. We have six point five trillion

958
00:45:28,480 --> 00:45:31,320
Speaker 1: of spending. We have four point five trillion of revenue.

959
00:45:31,360 --> 00:45:33,000
Speaker 1: So you hear the revenue and spending where two trillion

960
00:45:33,000 --> 00:45:35,000
Speaker 1: dollar definite? That sounds terrible, right, But as a business owner,

961
00:45:35,000 --> 00:45:39,600
Speaker 1: there's one big number missing. What's the balance sheet? What's

962
00:45:39,640 --> 00:45:43,240
Speaker 1: the balance sheet of the United States? Estimated between five

963
00:45:43,600 --> 00:45:50,000
Speaker 1: hundred trillion to a quadrillion. That's the balance sheet. So

964
00:45:50,200 --> 00:45:52,279
Speaker 1: when you have a business guy like a Lutnik coming

965
00:45:52,320 --> 00:45:54,600
Speaker 1: and go, wait a minute, look at the ballance sheet.

966
00:45:56,080 --> 00:45:58,840
Speaker 1: We have five hundred trillion dollars of assets. What is

967
00:45:58,920 --> 00:46:03,960
Speaker 1: thirty six trillion dollar debt. We can balance the budget.

968
00:46:04,360 --> 00:46:07,200
Speaker 1: The debt is miniscool. We can monetize the balance sheet,

969
00:46:07,320 --> 00:46:10,560
Speaker 1: Like what are we doing here, guys? And so anyway

970
00:46:10,640 --> 00:46:13,080
Speaker 1: back to it's not just this because of the currency

971
00:46:13,120 --> 00:46:15,080
Speaker 1: we have the balance sheet anyway, So back to the

972
00:46:15,120 --> 00:46:18,239
Speaker 1: currency question. So the dollars reserve currency of the world.

973
00:46:18,480 --> 00:46:20,640
Speaker 1: I don't think anything is changing that. I did make

974
00:46:20,640 --> 00:46:24,280
Speaker 1: a video recently. So the Trumpet administration, the US government

975
00:46:24,360 --> 00:46:27,480
Speaker 1: is all in on creating the US dollar stable coins.

976
00:46:28,040 --> 00:46:31,360
Speaker 1: And so part of the reason why is the world

977
00:46:31,920 --> 00:46:35,040
Speaker 1: when I talk about the world Peru, Argentina, Lebanon, Turkey,

978
00:46:35,120 --> 00:46:39,759
Speaker 1: et cetera, they desperately want dollars because their currencies are

979
00:46:39,800 --> 00:46:42,080
Speaker 1: exploding all around them, but they're not able to get dollars.

980
00:46:42,120 --> 00:46:44,680
Speaker 1: Their countries keep them from doing that. So US dollars

981
00:46:44,680 --> 00:46:46,560
Speaker 1: stable coins have made it where they can easily get

982
00:46:46,600 --> 00:46:49,320
Speaker 1: to the US dollars. So the world desperately wants US dollars.

983
00:46:49,960 --> 00:46:53,799
Speaker 1: Bitcoin as much as I believe in it, and it's

984
00:46:53,800 --> 00:46:55,840
Speaker 1: the ten x in front, you should be buying it.

985
00:46:55,840 --> 00:46:59,080
Speaker 1: It's too volatile for the average person to be trying

986
00:46:59,160 --> 00:47:01,400
Speaker 1: to be trying to live their life on it. If

987
00:47:01,400 --> 00:47:02,680
Speaker 1: you have money you can put away for five years,

988
00:47:02,719 --> 00:47:04,200
Speaker 1: you should put in a bitcoin. But if I have

989
00:47:04,280 --> 00:47:06,200
Speaker 1: money that I'm trying to spend. I got to pay

990
00:47:06,200 --> 00:47:08,360
Speaker 1: my rent next week. It's too volatile. So the world

991
00:47:08,360 --> 00:47:10,640
Speaker 1: needs dollars, and I think the two complement each other

992
00:47:10,680 --> 00:47:13,279
Speaker 1: in a transitional period. So the US dollar stable coin

993
00:47:13,360 --> 00:47:17,360
Speaker 1: will get to the entire world. And then the government

994
00:47:17,360 --> 00:47:19,720
Speaker 1: also has another problem. The government needs people to buy treasuries.

995
00:47:20,520 --> 00:47:23,840
Speaker 1: So now we have vs. A V. We have the

996
00:47:23,880 --> 00:47:27,440
Speaker 1: world buying stable coins. Stable coins go into treasuries. So

997
00:47:27,640 --> 00:47:30,920
Speaker 1: I believe this will cementt the dollars position in the

998
00:47:30,920 --> 00:47:34,040
Speaker 1: world as the reserve currency. It will only become stronger

999
00:47:34,080 --> 00:47:36,640
Speaker 1: than it already is and will take over everything because

1000
00:47:36,760 --> 00:47:40,280
Speaker 1: even countries with their own currencies the people want and dollars,

1001
00:47:40,520 --> 00:47:43,000
Speaker 1: the stable coins will get it out there, and working

1002
00:47:43,040 --> 00:47:46,120
Speaker 1: together with bitcoin and the dollars, it will cement that position.

1003
00:47:46,160 --> 00:47:48,520
Speaker 1: Now we have all these things, we can store wealth

1004
00:47:48,520 --> 00:47:52,080
Speaker 1: in gold and collectibles and fine art and all these things.

1005
00:47:52,120 --> 00:47:54,920
Speaker 1: It doesn't take away from the dollar. Nobody thinks they

1006
00:47:54,960 --> 00:47:56,720
Speaker 1: should be storing their wealth in the dollar.

1007
00:47:57,000 --> 00:47:58,000
Speaker 2: It's not a store of value.

1008
00:47:58,120 --> 00:48:00,440
Speaker 1: So we store our wealth in other things, and we

1009
00:48:00,560 --> 00:48:02,560
Speaker 1: use the dollar to buy your coffee in the morning.

1010
00:48:02,560 --> 00:48:04,080
Speaker 1: So I don't see how it really threatens the dollar

1011
00:48:04,160 --> 00:48:06,520
Speaker 1: now over a long enough period of time, yes, I

1012
00:48:06,600 --> 00:48:09,640
Speaker 1: believe that will happen by about twenty fifty or twenty

1013
00:48:09,719 --> 00:48:12,239
Speaker 1: fifty five. Then there's a threat, but I think we

1014
00:48:12,280 --> 00:48:14,160
Speaker 1: have the next thirty years in front of us. Mark.

1015
00:48:14,200 --> 00:48:16,359
Speaker 2: Thank you. I could talk to you for hours, and

1016
00:48:16,520 --> 00:48:19,000
Speaker 2: we will put all your information, including I'm going to

1017
00:48:19,000 --> 00:48:22,520
Speaker 2: ask you off camera, any resources on bitcoin that someone's like,

1018
00:48:22,560 --> 00:48:24,720
Speaker 2: I'm sold, I want to learn more. We'll have that below.

1019
00:48:25,160 --> 00:48:25,480
Speaker 2: Thank you.

1020
00:48:25,640 --> 00:48:26,120
Speaker 1: Yeah, thank you,