WEBVTT - The Untold Truth About Wealth: Broke Forever If Ignored! 0:00:00.160 --> 0:00:03.320 The way that the wealthy build wealth. They're using multiple 0:00:03.360 --> 0:00:07.920 things in a proper sequence in order to invest through 0:00:08.039 --> 0:00:11.640 layers to multiply their well five hundred times faster. I 0:00:11.720 --> 0:00:13.480 could have just put it into an index fund and 0:00:13.480 --> 0:00:15.160 it could have grown at six or seven percent. But 0:00:15.240 --> 0:00:17.120 here I've turned it into fifteen million. But that doesn't 0:00:17.120 --> 0:00:19.760 stop there. Now that fifteen million I can borrow against that. 0:00:19.880 --> 0:00:24.239 Bitcoin is our single greatest weapon, not just to build 0:00:24.320 --> 0:00:26.840 wealth for ourselves, just to change the world in a 0:00:27.240 --> 0:00:31.760 massively positive way. If it could capture one point five 0:00:31.880 --> 0:00:35.040 percent by twenty thirty, that puts it at one million 0:00:35.080 --> 0:00:37.800 dollars per bitcoin. Wow, as twenty years after it came out, 0:00:38.200 --> 0:00:40.640 Airbnb did ten percent. Ten years. Whoever's listening to this, 0:00:40.760 --> 0:00:43.160 you're not smarter than Howard Lednik. He put a billion 0:00:43.159 --> 0:00:45.120 dollars in microstrets. So all these people, well, micro strategy 0:00:45.159 --> 0:00:47.360 to scamponzie. Okay, they put a billion dollars, that's like 0:00:47.400 --> 0:00:50.040 forty percent into micro strategy. On the other side, they 0:00:50.320 --> 0:00:53.680 invested into Tether. Tether is the largest stable coin company 0:00:53.680 --> 0:00:56.320 in the world. And you're bearish, like, we have this. 0:00:56.360 --> 0:00:58.000 One of the smartest guys in the world built multiple 0:00:58.000 --> 0:01:00.680 millions of dollars multiple times, running the govern building these 0:01:00.720 --> 0:01:03.040 operations and and and having his money where his mouth 0:01:03.080 --> 0:01:05.680 is in three different companies that are benefiting from this. Right. 0:01:05.920 --> 0:01:08.759 They're not doing it to pump their bags. They realize 0:01:08.800 --> 0:01:12.440 it's the best asset in the world. Yeah, cru Argentina, Lebanon, Turkey, 0:01:12.560 --> 0:01:16.920 et cetera. They desperately want dollars because their currencies are 0:01:16.959 --> 0:01:19.279 exploding all around them, but they're not able to get dollars. 0:01:19.280 --> 0:01:21.800 Their countries keep them from doing that. So US dollars 0:01:21.840 --> 0:01:23.720 stable coins have made it where they can easily get 0:01:23.760 --> 0:01:26.399 to the US dollars. So the world desperately wants US dollars, 0:01:26.640 --> 0:01:28.600 so the US dollar stable coin will get to the 0:01:28.760 --> 0:01:32.759 entire world. And then the government also has another problem, 0:01:32.840 --> 0:01:36.240 the government these people to buy mark. 0:01:37.080 --> 0:01:38.959 Thank you, thank you so much for Lena, and may 0:01:39.040 --> 0:01:42.000 use your studio and interview you man. Yeah, exciting, what 0:01:42.120 --> 0:01:44.280 uh what are you most excited about right now in 0:01:44.319 --> 0:01:45.120 this crazy time? 0:01:46.959 --> 0:01:53.760 Hmmm? What am I the most excited about? I'm so 0:01:53.840 --> 0:01:55.960 excited in every part of my life. Let me let 0:01:55.960 --> 0:01:57.280 me let me just back this up and then we'll 0:01:57.320 --> 0:02:02.320 try to answer that question. I believe that all of 0:02:02.400 --> 0:02:06.920 life is about the law of compounding, right, so Einstein 0:02:06.960 --> 0:02:08.840 called the eighth wonder of the world. Those who know 0:02:09.000 --> 0:02:10.720 it receive it, those who don't know what pay it. 0:02:10.760 --> 0:02:13.480 But typically that's used. I'm sure you use that all 0:02:13.520 --> 0:02:16.359 the time in regards to how an account compounds over 0:02:16.400 --> 0:02:19.639 time and it doubles and things like that. But it's 0:02:19.680 --> 0:02:23.040 not just about money. It's about every single part of life, 0:02:23.120 --> 0:02:27.600 every single part of life. And so I built this 0:02:27.639 --> 0:02:30.200 house down in Mexico, this really big house on the beach. 0:02:30.360 --> 0:02:32.320 This guy came in. He went to do this home 0:02:32.360 --> 0:02:34.480 automation for me. He'd never done a house this big, 0:02:35.720 --> 0:02:39.359 is really outside of his reach, and he was hoping 0:02:39.360 --> 0:02:41.959 that he could use my house to help him start 0:02:41.960 --> 0:02:44.720 getting more high end clients. He did the worst job ever. Now, 0:02:44.720 --> 0:02:45.799 if he would have done a really good job, I 0:02:45.800 --> 0:02:48.240 would have recommend to all my neighbors. But because he 0:02:48.280 --> 0:02:50.560 did such a horrible job, I'll tell all my neighbors 0:02:50.560 --> 0:02:54.200 to never work with him. So instead of it compounding 0:02:54.280 --> 0:02:56.320 one job gets some five jobs, five jobs gets some 0:02:56.400 --> 0:02:58.880 twenty jobs, I'll make sure he never gets another job. 0:02:58.960 --> 0:03:00.959 Not because I'm vindictive, but if my neighbors asked me 0:03:01.000 --> 0:03:03.800 I have to say no. But it so if I 0:03:03.800 --> 0:03:06.000 make a good YouTube video, people are more likely to 0:03:06.000 --> 0:03:07.880 watch my next YouTube video. If I make a bad one, 0:03:08.160 --> 0:03:12.240 they won't watch it again. But when it comes to learning, 0:03:12.320 --> 0:03:15.480 it's also the same way. Like I'm in this space 0:03:15.520 --> 0:03:19.519 where like I am just like voraciously trying to expand 0:03:19.680 --> 0:03:22.880 into every value that I have. I want to be 0:03:23.040 --> 0:03:25.720 like the ultimate best, not to be other people, but 0:03:25.840 --> 0:03:28.200 just be a better version of myself. But in every area, 0:03:28.760 --> 0:03:32.000 I want to work smarter, I want to do bigger deals, 0:03:32.040 --> 0:03:34.440 i want to get more in shape, I want to 0:03:34.639 --> 0:03:37.240 be a better father in every area. And that was 0:03:37.280 --> 0:03:39.600 also the law of compounding as well. So it's like 0:03:40.240 --> 0:03:42.000 I didn't always be I wasn't always like this, but 0:03:42.040 --> 0:03:44.680 at one point I read a book. I was like, Wow, 0:03:44.760 --> 0:03:46.760 that changed my life a little bit. What if I 0:03:46.760 --> 0:03:49.440 read another one? What if I read another Oh my gosh, 0:03:49.480 --> 0:03:51.120 what if I read what if I hired this coach? 0:03:51.160 --> 0:03:53.320 Oh my gosh, what if I And like over time, 0:03:53.360 --> 0:03:54.960 and so now I'm at this point in my life 0:03:55.040 --> 0:03:57.640 right now where it's like I'm just like so excited 0:03:57.640 --> 0:03:59.880 for every single part because every single part of my 0:04:00.120 --> 0:04:02.720 life is just maximizing and then they start to compound 0:04:02.760 --> 0:04:05.240 on each other. Right, So, now what I'm doing in 0:04:05.240 --> 0:04:07.520 the gym, the discipline I'm building the gym, the way 0:04:07.560 --> 0:04:10.880 I've tweaked my diet to give me maximum energy all day, 0:04:11.000 --> 0:04:14.760 then goes into my work and my clarity. So I'm 0:04:14.800 --> 0:04:16.440 super excited about a lot of things because that, as 0:04:16.440 --> 0:04:19.680 you can tell, I would say, ultimately, one big thing 0:04:19.720 --> 0:04:23.160 that I'm really focused on is the law of compounding. 0:04:23.440 --> 0:04:25.960 I started making YouTube videos about seven eight years ago, 0:04:26.080 --> 0:04:28.360 and I didn't want to. My partner at the time 0:04:28.520 --> 0:04:30.840 forced me to, like we were going to break up. 0:04:31.120 --> 0:04:34.440 Our business would fall apart if I didn't, And here 0:04:34.480 --> 0:04:37.120 we are the law of compounding. My reach has gotten 0:04:37.560 --> 0:04:39.240 to the point, you know, they got one hundred million 0:04:39.320 --> 0:04:42.760 views or whatever, and the doors that has opened up 0:04:42.800 --> 0:04:47.680 because of that, the law of compounding, the relationships that 0:04:47.720 --> 0:04:51.719 I've built, and now like the it I'm starting to 0:04:51.720 --> 0:04:54.440 see the impact that I'm making on people's lives through 0:04:54.440 --> 0:04:58.000 the coaching consulting programs like real serious change, but also 0:04:58.160 --> 0:05:01.120 like now I have like companies coming to me. I 0:05:01.120 --> 0:05:03.320 have like a publicly traded company that I just launched 0:05:03.320 --> 0:05:05.320 I'm an officer of. I have other companies that are 0:05:05.320 --> 0:05:07.000 giving me equity to help them, and so it's like 0:05:08.640 --> 0:05:16.800 my pursuit of growth being better every day has now compounded, 0:05:16.839 --> 0:05:18.600 and I see this ripple effect. And so now I'm 0:05:18.640 --> 0:05:20.960 coaching and consulting people on a weekly basis. I have 0:05:21.000 --> 0:05:22.920 people coming into my studio this week to help them, 0:05:23.160 --> 0:05:24.839 and I see the impact of that. So I'm super 0:05:24.839 --> 0:05:26.560 excited about that. But then I see my reach even 0:05:26.600 --> 0:05:29.640 going into businesses and companies and helping them, and so 0:05:30.240 --> 0:05:32.039 that's what I'm the most excited about. So it's like 0:05:32.080 --> 0:05:36.680 almost like my pursuit of leveling up is now compounded 0:05:36.720 --> 0:05:39.640 into other people's lives and even businesses, and it's just 0:05:39.680 --> 0:05:40.560 amazing to see. 0:05:40.720 --> 0:05:43.560 Yeah, I'm hoping to get a mini master class on 0:05:43.600 --> 0:05:47.720 your thoughts about bitcoin and economics and just how Trump's doing. 0:05:47.760 --> 0:05:50.360 But before that, you've been talking about building wealth and layers, 0:05:50.400 --> 0:05:52.880 and I would just love to hear you articulate that. 0:05:53.040 --> 0:05:56.320 And you know, because people come to you all over 0:05:56.360 --> 0:05:58.960 the place to learn how to build wealth, and you're 0:05:59.240 --> 0:06:01.480 although you're fan of bitcoin and some other things, you 0:06:01.520 --> 0:06:03.440 also can look you can take a step back and 0:06:03.480 --> 0:06:05.000 look holistically at the situation. 0:06:05.400 --> 0:06:08.200 Well, I'm mostly known for my work in bitcoin, I 0:06:08.200 --> 0:06:12.120 got started making content around cryptocurrency. Now it's just bitcoin, 0:06:12.120 --> 0:06:14.120 that crypto, but I started my career in real estate. 0:06:14.200 --> 0:06:16.200 So it's like I've been an investor through multiple markets, 0:06:16.200 --> 0:06:18.560 through multiple assets, and I'd say, certainly, I think that 0:06:18.600 --> 0:06:24.320 bitcoin is the cheat code. Bitcoin is our single greatest weapon, 0:06:24.440 --> 0:06:27.039 not just to build wealth for ourselves, which it is, 0:06:27.040 --> 0:06:29.680 and we'll break that down, but to change the world 0:06:29.800 --> 0:06:33.600 in a massively positive way. So it's the cheat code 0:06:33.600 --> 0:06:36.320 for life for us individually and as a as a 0:06:36.520 --> 0:06:40.760 as a world. But also like whether you'd like bitcoin 0:06:40.839 --> 0:06:43.240 or not, put that, put that aside. Whether you like 0:06:43.279 --> 0:06:45.400 real estate, okay, like whatever, there's this raging debate in 0:06:45.400 --> 0:06:47.880 the bitcoin circles, like real estate or bitcoin, which one's better. 0:06:48.720 --> 0:06:50.400 Maybe you're a Dave Ramsey fan and you think you 0:06:50.400 --> 0:06:53.080 should just go into mutual funds and index funds like okay, fine, 0:06:53.120 --> 0:06:56.200 Like choose your weapon. But the way that the wealthy 0:06:56.880 --> 0:06:59.479 build wealth, and part of me building out this network 0:06:59.520 --> 0:07:01.520 is getting access to people like this to see these 0:07:01.560 --> 0:07:05.719 things is that it doesn't matter. They're not trying to 0:07:05.839 --> 0:07:10.720 choose the best. They're using multiple things in a proper 0:07:10.760 --> 0:07:15.760 sequence and order to invest through layers to multiply their 0:07:15.760 --> 0:07:19.520 well three hundred five times, five hundred times faster. And 0:07:19.560 --> 0:07:21.400 so whether you like bitcoin or don't, or whether you 0:07:21.440 --> 0:07:23.080 like index funds are don't, or whether whether you like 0:07:23.080 --> 0:07:25.480 real estate or not, that's not the point. It's how 0:07:25.480 --> 0:07:29.160 do I use multiple assets understanding what we're really doing 0:07:29.160 --> 0:07:31.720 with them, and using them in the proper order and 0:07:31.760 --> 0:07:33.280 sequence to build well. So let me give you an 0:07:33.320 --> 0:07:36.840 example of what I mean. So, what most people think 0:07:36.880 --> 0:07:39.720 that rage in this debate between bitcoin and real estate 0:07:39.920 --> 0:07:42.960 is well, bitcoin's better, No, real estate's better. Well, bitcoins 0:07:42.960 --> 0:07:44.760 better because it's going up faster, it's going up at 0:07:44.760 --> 0:07:46.480 fifty percent a year. Real estate is going to put 0:07:46.520 --> 0:07:48.600 five percent a year. Yeah, but real estate we can 0:07:48.640 --> 0:07:51.040 get we can get leverage because of debt and blah 0:07:51.080 --> 0:07:54.240 blah blah. What they don't realize is that. And then 0:07:54.240 --> 0:07:56.160 there's all this talk about this airbnb boom and all 0:07:56.160 --> 0:07:58.400 these people bought real estate and they're turning into airbnbs. 0:07:58.440 --> 0:08:01.520 But airbnb markets crashing and the home values are dropping 0:08:01.520 --> 0:08:03.640 in Austin fifteen percent. All these people are said down, 0:08:04.760 --> 0:08:08.720 they don't understand. You see what the wealthy do is 0:08:08.760 --> 0:08:12.840 they don't buy real estate for cash flow. They buy 0:08:12.880 --> 0:08:17.120 real estate for tax efficiency. So I was telling you 0:08:17.160 --> 0:08:19.800 I bought this ranch property out in Austin, Texas, two 0:08:19.840 --> 0:08:23.520 and a half million dollar property. That property is an 0:08:23.520 --> 0:08:25.880 airbnb when I'm not there. I used it for events 0:08:25.920 --> 0:08:29.040 when I'm out there. But that got me millions of 0:08:29.040 --> 0:08:33.000 dollars of tax right off. I didn't have to pay 0:08:33.120 --> 0:08:35.640 tax on millions of dollars because I bought that property. 0:08:35.920 --> 0:08:37.800 What do I care if it drops by twenty or 0:08:37.800 --> 0:08:41.360 thirty percent, I don't care. I got millions, right And 0:08:41.400 --> 0:08:44.000 so people don't understand this. They look at it like that. 0:08:44.280 --> 0:08:47.880 And so what happens is like, I'm working with this 0:08:48.120 --> 0:08:52.800 hosted bitcoin mining company right now. We're not selling hosted 0:08:52.840 --> 0:08:56.679 bitcoin mining, we're selling tax efficiency. What if I can 0:08:56.720 --> 0:08:59.120 get double the bitcoin in two and a half years 0:08:59.280 --> 0:09:00.920 and I get a hundred thousand dollars a ride off 0:09:00.960 --> 0:09:03.640 at the same time. And so that's what I've talked 0:09:03.640 --> 0:09:06.520 about with Layers, is like understanding it's not the asset 0:09:06.520 --> 0:09:08.200 that I'm buying, it's how does it fit into my 0:09:08.360 --> 0:09:11.080 picture and how do I use this in a portfolio 0:09:11.280 --> 0:09:13.480 that then allows me to multiply wealth. Let me just 0:09:13.480 --> 0:09:15.920 break this down. So I did a video on this. So, like, 0:09:16.040 --> 0:09:18.520 if I were to put one hundred thousand dollars into 0:09:18.520 --> 0:09:21.120 a whole life insurance policy compounding a five percent a year, 0:09:22.360 --> 0:09:24.440 and then I borrow the money out at five percent 0:09:24.480 --> 0:09:28.080 a year, isn't that a wash? No? Because one is compounding, 0:09:28.440 --> 0:09:29.959 the other one is getting paid down. So I take 0:09:29.960 --> 0:09:31.600 that one hundred thousand, I pull it out and I 0:09:31.679 --> 0:09:34.760 reinvest it, reinvest it into what, Well, first of all, 0:09:34.840 --> 0:09:38.240 over twenty years, that's going to make me fifty thousand dollars. 0:09:39.040 --> 0:09:41.400 That's like a fifty percent return on my capital. Then 0:09:41.440 --> 0:09:43.280 I take that one hundred thousand, and now I go 0:09:43.320 --> 0:09:47.320 buy five hundred thousand dollars worth of real estate, which 0:09:47.400 --> 0:09:50.199 potentially gets me back to the Napkin math four hundred 0:09:50.240 --> 0:09:52.959 thousand dollars in tax right off. So I don't pay 0:09:52.960 --> 0:09:55.839 tax on four hundred grand. That could be one hundred 0:09:55.840 --> 0:09:59.200 and fifty thousand dollars based off of whatever an average salary. 0:09:59.520 --> 0:10:01.319 Now I have a hundred fifty thousand dollars I didn't 0:10:01.559 --> 0:10:04.080 I got to keep because I didn't pay that into taxes. 0:10:04.160 --> 0:10:05.719 Right now, I put that one hundred fifty thousand dollars 0:10:05.760 --> 0:10:09.240 into bitcoin, and in five years that's worth fifteen million dollars. 0:10:09.600 --> 0:10:11.920 And I didn't make up penny more. Yeah, I didn't 0:10:11.960 --> 0:10:15.480 increase my income. I didn't work harder. I could have 0:10:15.559 --> 0:10:17.160 just put it into an index fund and it could 0:10:17.160 --> 0:10:19.480 have grown a six or seven percent. But here I've 0:10:19.480 --> 0:10:21.439 turned it into fifteen million. But that doesn't stop there. 0:10:21.480 --> 0:10:24.360 Now that fifteen million, I can borrow against that, borrow 0:10:24.400 --> 0:10:27.199 fifty percent LTV. I borrowed seven million out buy more 0:10:27.240 --> 0:10:30.680 real estate, and I probably never paid tax again. And 0:10:30.760 --> 0:10:32.360 so that's what I'm talking about in layers. 0:10:32.679 --> 0:10:34.840 Do you have a framework when it comes to layering 0:10:34.920 --> 0:10:36.319 or is it just one of those It's like everyone's 0:10:36.320 --> 0:10:38.920 a little bit different. For example, you talk about tax efficiency. 0:10:38.960 --> 0:10:41.680 I know you're friends with Robert Kyosaki. In his book, 0:10:41.720 --> 0:10:44.400 he's like, don't don't buy taxes just for taxes, buy 0:10:44.440 --> 0:10:47.480 it for cash flow. What is your You know one 0:10:47.760 --> 0:10:49.960 thing that makes Robert so iconic is he has the 0:10:49.960 --> 0:10:52.680 cash flow quadrant. He has the you are financially free 0:10:52.679 --> 0:10:55.480 when you have enough passive cash flow coming into So 0:10:55.679 --> 0:10:58.240 what is your framework for layers? Because it sounds great. 0:10:58.320 --> 0:11:00.320 I love whole life insurance. I know you do is well, 0:11:00.840 --> 0:11:03.280 put money in that asset and leverage that to do 0:11:03.440 --> 0:11:06.720 real estate. Is there like a one two three punch 0:11:06.800 --> 0:11:09.679 for someone listening or watching that that are like maybe 0:11:09.720 --> 0:11:12.000 first principles of like do this, then do this, then 0:11:12.040 --> 0:11:12.320 do this. 0:11:12.520 --> 0:11:15.720 Yeah. Shout out to Robert Kyosaki. He was my mentor. 0:11:15.760 --> 0:11:17.360 I read his books for twenty five years, as he's 0:11:17.400 --> 0:11:19.720 become a friend and it was really him that made 0:11:19.720 --> 0:11:23.400 me look deeper because I got to know him maybe 0:11:23.440 --> 0:11:27.200 around twenty twenty or twenty twenty one. And in twenty 0:11:27.240 --> 0:11:31.200 twenty one, California shutdown. It was COVID pandemic craziness, and 0:11:31.280 --> 0:11:32.960 so we left and I went to Puerto Rico with 0:11:33.040 --> 0:11:35.439 my family. And part of it was just because I 0:11:35.440 --> 0:11:36.920 wasn't going to live locked down. Part of it was 0:11:36.920 --> 0:11:38.560 like I'm a surfer. I love the island. But also 0:11:38.559 --> 0:11:41.800 there's tax efficiency in Puerto Rico, right. And I remember 0:11:42.000 --> 0:11:44.480 I was speaking at conferences, Robert was speaking at conferences, 0:11:44.480 --> 0:11:46.560 and a couple couple times more than once, two or 0:11:46.559 --> 0:11:48.640 three times from stage, he. 0:11:48.720 --> 0:11:49.960 Calls me out, it's cool. 0:11:50.520 --> 0:11:51.840 I want to take a break real quick and just 0:11:51.840 --> 0:11:55.280 say that there's only so much you can learn through videos. Yeah, 0:11:55.320 --> 0:11:57.720 build your knowledge, build your skills, but you need to 0:11:57.760 --> 0:12:00.960 build your relationships or relationships plus skills equals money. So 0:12:01.360 --> 0:12:03.800 come build your relationships and your knowledge at the Bitcoin 0:12:03.880 --> 0:12:06.640 Conference May twenty seventh through twenty ninth in Las Vegas. 0:12:06.640 --> 0:12:08.719 I'm gonna be there speaking for the fourth year in 0:12:08.760 --> 0:12:14.080 a row, and lots of other people way bigger than me. Entertainment, politics, media, finance, 0:12:14.120 --> 0:12:16.560 you name it, they'll be there, So come check it out. 0:12:16.760 --> 0:12:19.160 Save some money with my code Mark Moss or I'll 0:12:19.160 --> 0:12:21.480 put a link down below if you use my code 0:12:21.520 --> 0:12:23.600 to save some money. I'm going to do a private 0:12:23.679 --> 0:12:26.240 meetup just for you and some of my friends. So 0:12:26.640 --> 0:12:28.760 let me know. Use that code, save some money, Send 0:12:28.800 --> 0:12:30.839 me a message and we'll get you in the private 0:12:30.840 --> 0:12:32.480 meetup and I hope to see you in Las Vegas. 0:12:32.800 --> 0:12:35.360 Guys like Mark Moss and Peter Schiff have to move 0:12:35.400 --> 0:12:37.680 to Puerto Rico to not pay taxes. He's like, I 0:12:37.679 --> 0:12:39.880 don't pay taxes, and he would call me out, like 0:12:39.960 --> 0:12:42.440 multiple times from stage, like what an idiot this guy is? 0:12:42.440 --> 0:12:43.920 He had to move to get out of taxes. Don't 0:12:43.920 --> 0:12:46.520 they know that we just don't pay taxes? And so 0:12:46.800 --> 0:12:49.160 that made me go huh, like maybe I need to 0:12:49.160 --> 0:12:52.280 look at this a little bit more, and uh, hanging 0:12:52.320 --> 0:12:55.760 out with them, having dinners with him. I'm like, let's 0:12:55.760 --> 0:12:57.880 break this down, like, what are we doing here, what's 0:12:57.920 --> 0:12:59.840 the strategy whatever? Sting a shout out to Robert Kyosaki 0:12:59.880 --> 0:13:03.360 and the framework, I would say, I guess maybe I 0:13:03.400 --> 0:13:05.480 don't have a clearly defined framework as far as which 0:13:05.520 --> 0:13:07.800 assets go into which ones because sort of like our 0:13:07.880 --> 0:13:11.560 mutual friend Garrett Gunderson, it's like this investor DNA, so 0:13:11.640 --> 0:13:14.960 as I said, maybe you don't like bitcoin, cool, like whatever, 0:13:15.320 --> 0:13:16.960 don't don't get hung up on that. It's like Trump 0:13:17.000 --> 0:13:20.360 derangement syndrome. Somebody can't see past that. Okay, let's put 0:13:20.360 --> 0:13:23.800 a different asset in there. So looking at different assets differently, 0:13:23.840 --> 0:13:27.080 but I think the order makes sense of one, set 0:13:27.160 --> 0:13:30.240 up that base layer, it's right. Two. I use real 0:13:30.360 --> 0:13:33.480 estate there because that's how we get rid of the taxes. Now, 0:13:33.520 --> 0:13:36.360 there's other ways to do that, but like real estate 0:13:36.440 --> 0:13:38.880 is the easiest way to get that leverage. Because what 0:13:39.960 --> 0:13:42.880 people that are like, maybe they're they thinking like level 0:13:42.920 --> 0:13:45.120 two or level three on this. They think they buy 0:13:45.160 --> 0:13:48.240 things for tax write offs. But I mean I still 0:13:48.240 --> 0:13:50.160 have to give up the money. What wealthy do is 0:13:50.320 --> 0:13:52.120 I don't want to spend a dollar and write off 0:13:52.120 --> 0:13:54.560 a dollar. I want to spend a dollar in write 0:13:54.559 --> 0:13:56.880 off five dollars. I want to spend a dollar and 0:13:56.880 --> 0:14:00.560 write off ten dollars. So then what allows me to 0:14:00.640 --> 0:14:04.520 do that? Well, typically it would be things that I 0:14:04.559 --> 0:14:07.880 can put leverage against. So real estate is one. I'm 0:14:07.920 --> 0:14:09.920 working on bringing a product to market where we can 0:14:09.960 --> 0:14:12.880 do loans against bitcoin mining equipment, and then I can 0:14:13.000 --> 0:14:16.760 also get that leverage right off. Wealthy do other things 0:14:16.800 --> 0:14:21.520 with collectibles, fine art, things like that, land conservations, things 0:14:21.600 --> 0:14:23.920 like that. So there's other ways to get that. I mean, 0:14:24.240 --> 0:14:26.200 Elon must did it with Tesla, you know, I sell 0:14:26.200 --> 0:14:28.120 and carbon credits or tech you know, things like that. 0:14:28.360 --> 0:14:30.920 So there are other ways, But what are the ways? 0:14:31.400 --> 0:14:33.240 It all starts with a question, right, So it's like, Okay, 0:14:33.360 --> 0:14:34.760 I set my base layer so I always have a 0:14:34.800 --> 0:14:37.320 growing Then how do we get the tax efficiency? And 0:14:37.440 --> 0:14:39.600 I know that I want three, five, ten dollars a 0:14:39.640 --> 0:14:41.440 right off of every dollar I spend, So what gives 0:14:41.440 --> 0:14:44.680 me those? Real Estate's just the most successful way for everybody. 0:14:44.400 --> 0:14:44.760 To do that. 0:14:45.000 --> 0:14:47.040 Now I keep more money, what do I do with 0:14:47.080 --> 0:14:48.800 it next. Now you can put that in the S 0:14:48.840 --> 0:14:51.280 and P five hundred. If that's you, maybe it's Tesla Nvidia. 0:14:51.520 --> 0:14:53.160 For me, I think it's bitcoin because I don't think 0:14:53.160 --> 0:14:56.240 there's any asset in the world that will outpace bitcoin. 0:14:56.280 --> 0:14:59.440 Bitcoin is the cheat code, and so it certainly belongs 0:14:59.440 --> 0:15:01.240 in our PORTFOLI the most bitcoiner. For say, just buy 0:15:01.240 --> 0:15:03.960 bitcoin and don't do anything. And that's not a bad strategy. 0:15:04.200 --> 0:15:06.360 You can just buy bitcoin and outperform every single Wall 0:15:06.400 --> 0:15:08.800 Street hedge fund. You can just beat everybody just by bitcoin. 0:15:08.840 --> 0:15:12.720 That's it. Just buy it. But because I want to 0:15:12.720 --> 0:15:14.640 get better at everything, why not make three to five 0:15:14.720 --> 0:15:17.280 hundred percent more and do it that way? 0:15:17.400 --> 0:15:20.800 Yeah, I wrote, build the foundation and then leverage for 0:15:20.880 --> 0:15:23.600 text benefits and then for compounding. 0:15:24.400 --> 0:15:25.200 That's exactly right. 0:15:25.240 --> 0:15:28.360 I love that, all right, sell me on bitcoin. I 0:15:28.400 --> 0:15:30.160 have a lot of a lot of the people that 0:15:30.240 --> 0:15:32.920 watch this are into real estate, are business owners, and 0:15:33.520 --> 0:15:36.360 understand the powerful life insurance, so they're maybe more sophisticated 0:15:36.400 --> 0:15:40.000 than the average person. Bitcoin is one of those things 0:15:40.040 --> 0:15:42.440 that I get a lot of questions on and I 0:15:42.600 --> 0:15:45.600 have come I mean, I remember during COVID, I was like, 0:15:46.120 --> 0:15:49.400 what is going on? And now it's over eighty thousand, 0:15:50.120 --> 0:15:53.480 and there's people saying that it's that's only beginning. I 0:15:53.520 --> 0:15:56.120 talked to someone last night that's like, put your money 0:15:56.120 --> 0:15:56.680 in bitcoin. 0:15:57.520 --> 0:15:59.080 I think it has a ten X in front of 0:15:59.080 --> 0:15:59.960 it in the next five years. 0:16:00.320 --> 0:16:02.800 Can help me understand break down them? Yeah's help me 0:16:02.880 --> 0:16:03.600 understand bitcoin. 0:16:05.320 --> 0:16:11.280 So what happens is about every fifty years. For the 0:16:11.360 --> 0:16:14.880 last three hundred years, we're on the sixth cycle. So 0:16:15.000 --> 0:16:18.240 we have these cycles. They're about fifty year cycles that happened, 0:16:18.440 --> 0:16:21.560 and I call them quantum wave cycles. Other people have 0:16:21.600 --> 0:16:24.000 called them k waves or conjointive waves. You can look 0:16:24.000 --> 0:16:27.000 them over. But basically, we have a technological revolution that 0:16:27.040 --> 0:16:30.240 happens about every fifty years, and we get this cluster 0:16:30.320 --> 0:16:33.040 of technologies that gives us new sets of building blocks 0:16:33.080 --> 0:16:35.800 that we didn't have before. So the problem that humans 0:16:35.800 --> 0:16:37.400 have is we're no good to imagine in the future 0:16:37.720 --> 0:16:40.200 because we can only imagine better versions of what we 0:16:40.240 --> 0:16:42.960 have today, but we don't imagine that we'll have different 0:16:42.960 --> 0:16:44.800 building blocks to let us build different things. If you 0:16:44.800 --> 0:16:46.680 have a deck of cards, what can you build a 0:16:46.720 --> 0:16:48.760 deck of cards versus what can you build legos? Right, 0:16:49.400 --> 0:16:52.520 So we had It all started with the Industrial Revolution. 0:16:52.600 --> 0:16:55.560 We had mechanized machines for the first time, machines that 0:16:55.560 --> 0:16:56.920 could do the work of five thousand men. Then we 0:16:56.920 --> 0:16:59.880 had the steam engines and railways. Now we can move stuff, 0:17:00.480 --> 0:17:02.960 and we had electricity, steel, heavy equipment. Now we can 0:17:02.960 --> 0:17:07.800 build skyscrapers, bridges, electricity, obviously oil, oil fuels, automobiles, and 0:17:08.320 --> 0:17:11.159 mass production. In nineteen oh eight nineteen seventy one the 0:17:11.160 --> 0:17:13.880 birth of the microprocessor, which brought us to personal computers, 0:17:13.880 --> 0:17:20.119 telecom internet, teach huge. These are all quantum leaps, and 0:17:20.160 --> 0:17:23.640 now we're entering another one. And what bitcoin is this 0:17:23.680 --> 0:17:25.480 new piece of technology. And the problem that we have 0:17:25.560 --> 0:17:28.280 because we can't imagine the future very well. We try to. 0:17:29.200 --> 0:17:32.359 Our brains are really comparing mechanisms, like, hey, this is heavy, 0:17:32.640 --> 0:17:38.040 well heavy compared to what, right, So what is this electricity? Oh, 0:17:38.080 --> 0:17:41.359 it's kind of like a digital candle. It gives us light. Well, 0:17:41.520 --> 0:17:43.720 it was like a digital candle. That was a use 0:17:43.840 --> 0:17:45.679 case for it, but of course electricity is so much 0:17:45.720 --> 0:17:48.360 more than that today. So we think about what is bitcoin. Well, 0:17:48.400 --> 0:17:50.639 it's sort of like these things. Well it is like that, 0:17:50.760 --> 0:17:52.000 and it's like that, and it's like that it's like 0:17:52.400 --> 0:17:57.560 but it's even more right. So right now bitcoin is falling. 0:17:57.560 --> 0:18:01.000 It's a new piece of technology, and I want to 0:18:02.400 --> 0:18:04.040 I want to try to explain it without going too deep. 0:18:04.080 --> 0:18:08.040 You need a thousand hours. You can't borrow someone's conviction. Right, 0:18:08.119 --> 0:18:12.800 But what we know is that we have this monetary 0:18:13.200 --> 0:18:16.320 history and all types of different things have been money 0:18:16.359 --> 0:18:20.119 throughout history. Feathers, rock, seashells, and eventually gold emerged as 0:18:20.160 --> 0:18:23.719 the best form of money. So it's we understand that 0:18:23.760 --> 0:18:26.439 money is an evolutionary path. So it starts as a collectible. 0:18:26.480 --> 0:18:29.360 Look at this cool rock or feather or seashell. Look 0:18:29.359 --> 0:18:33.400 at this baseball card, this Pokemon card. Now, some collectibles, 0:18:33.400 --> 0:18:35.680 not all, but some evolve to the next stage, which 0:18:35.720 --> 0:18:38.959 is a store of value. Some baseball cards or are 0:18:39.000 --> 0:18:42.280 stores of value. Some wealthy people do store their wealth 0:18:42.359 --> 0:18:45.879 or value in collectibles and fine art and things like that. Now, 0:18:45.920 --> 0:18:49.320 if some have the right attributes, it could evolve maybe 0:18:49.320 --> 0:18:51.840 to the next stage, which is a medium exchange. So 0:18:52.119 --> 0:18:56.080 it needs to have the money attributes portable, divisible, durable, recognizable, saleable, 0:18:56.119 --> 0:18:57.960 things like that. So like a mona lisa is terrible 0:18:57.960 --> 0:18:59.879 because you can't divide it up. A cow could be, 0:19:00.320 --> 0:19:02.639 but it's not fungible one part, like a ribbi is 0:19:02.640 --> 0:19:05.400 different than a liver. Right. A banana would be terrible 0:19:05.400 --> 0:19:07.919 because it's not durable. So gold emerged as that's the 0:19:07.920 --> 0:19:10.199 best one, and it was the most scarce asset. But 0:19:10.240 --> 0:19:12.159 the problem with gold is that that was great in 0:19:12.200 --> 0:19:15.439 an industrial era. So really what happened is we had 0:19:15.440 --> 0:19:17.720 this gold age. But in the fifteen hundred's, actually like 0:19:17.760 --> 0:19:21.359 fourteen ninety eight, Luco Palliali in Florence, Italy created a 0:19:21.400 --> 0:19:24.680 new piece of technology called the ledger in double entry accounting. 0:19:25.400 --> 0:19:27.560 And because gold was too slow, how do I sell 0:19:27.600 --> 0:19:30.040 it across the sea? How do we trade globally when 0:19:30.080 --> 0:19:32.960 gold is so slow, big, heavy, dangerous to transport. So hey, 0:19:33.160 --> 0:19:35.119 we have this new piece of technology called a ledger 0:19:35.240 --> 0:19:38.040 or double enjoy accounting. So you give us the gold 0:19:38.080 --> 0:19:40.719 and we'll just keep track of the ledger. And that's 0:19:40.760 --> 0:19:42.560 basically the system that we're on today. The problem is 0:19:42.600 --> 0:19:46.520 who controls the ledger, and so that's always been the problem. 0:19:46.560 --> 0:19:49.359 So gold required all this centralization, and so what happened 0:19:49.400 --> 0:19:50.960 is all the gold went in the banks. The banks 0:19:51.040 --> 0:19:54.240 controlled the ledgers. But in nineteen thirty three, the United 0:19:54.280 --> 0:19:57.439 States government seized all the gold from the people. And 0:19:57.480 --> 0:19:59.000 part of the reason why they seized it is because 0:19:59.040 --> 0:20:01.080 they were lying about the Lleger. They kept printing too 0:20:01.160 --> 0:20:04.040 much paper debt and it wasn't tied to the dollar, 0:20:04.440 --> 0:20:06.679 and they found themselves short. They owed a lot of gold, 0:20:06.760 --> 0:20:08.840 and so they said, let's just take all the gold 0:20:08.920 --> 0:20:11.840 is in the banks. And so gold is always going 0:20:11.880 --> 0:20:14.720 to be susceptible to the same problem. It requires centralization 0:20:14.800 --> 0:20:18.040 because we're not in this old industrial agency more. We're 0:20:18.040 --> 0:20:21.760 an information age. And so today now transactions are at 0:20:21.760 --> 0:20:24.760 the speed of light, transactions I can click. I have 0:20:24.800 --> 0:20:26.320 this problem every time I think of something. I was 0:20:26.320 --> 0:20:28.200 opened my Amazon app and it's like here today. Right, 0:20:28.880 --> 0:20:34.800 But settlement is still from the fifteen hundreds. Settlement still 0:20:34.840 --> 0:20:36.760 takes three to five days to get an ach credit 0:20:36.800 --> 0:20:39.159 card into your bank. Isn't that wild? But it's not 0:20:39.200 --> 0:20:43.040 even that. Final settlements really about ninety days to six months, 0:20:43.280 --> 0:20:46.480 because someone could charge their credit card back final settlement. 0:20:46.520 --> 0:20:46.960 That's right. 0:20:47.760 --> 0:20:50.919 So we have this antiquated financial system. But more importantly, 0:20:51.520 --> 0:20:54.720 not only is it antiquated, but it it's destructive. Right, 0:20:54.800 --> 0:20:56.960 And so if you look at Chargers' website called wtf 0:20:56.960 --> 0:20:59.480 Happened nineteen seventy one? And it shows it's just a 0:20:59.480 --> 0:21:02.240 whole website full of charts. You'd love it. Just charts, 0:21:02.280 --> 0:21:05.480 that's it. And it's every single chart with a line 0:21:05.520 --> 0:21:10.440 at nineteen seventy one, and the homelessness rate boom, the 0:21:10.680 --> 0:21:13.639 single mother birth rate boom, the obesity rate boom, the 0:21:13.680 --> 0:21:17.720 incarceration rate boom. Certainly, our purchasing power going down. Home 0:21:17.720 --> 0:21:20.200 price is going up, gas price, everything, all the price 0:21:20.240 --> 0:21:23.359 is going up. But I laid out the destructive parts 0:21:23.359 --> 0:21:27.720 of society, the single mother birth rates, the incarceration rates, 0:21:27.760 --> 0:21:28.520 the divorce rates. 0:21:28.560 --> 0:21:30.440 Why going off the gold standard? Why did that have 0:21:30.560 --> 0:21:31.120 that effect? 0:21:31.160 --> 0:21:33.600 Well, because when we got off of any tie to 0:21:33.880 --> 0:21:36.320 sound money and started printing endless amounts of money, we 0:21:36.320 --> 0:21:39.760 create inflation. So when we print money, it creates inflation, 0:21:40.840 --> 0:21:43.439 which means that every time they print a dollar, my 0:21:43.520 --> 0:21:46.480 existing dollar buys me less goods and services. So as 0:21:46.520 --> 0:21:48.479 they printed more and more and more and more and 0:21:48.520 --> 0:21:50.160 more and more, my dollar bought me less and less 0:21:50.160 --> 0:21:51.840 and less and less and less. And so what happened 0:21:51.880 --> 0:21:54.760 is on an average wage, where I used to be 0:21:54.760 --> 0:21:57.160 able to buy the American dream, the house, to car, 0:21:57.240 --> 0:22:01.359 the college education. Now today you can't. And so the 0:22:01.440 --> 0:22:04.440 reason why the cost of everything went up is because 0:22:04.440 --> 0:22:06.720 they kept printing more dollars. My dollars were buying less 0:22:06.720 --> 0:22:08.520 of those things. But at the same time, the destruction 0:22:08.560 --> 0:22:10.840 of society went down. Because what's the number one cause 0:22:10.880 --> 0:22:14.840 of divorce money? One of the main causes of obesity 0:22:14.920 --> 0:22:16.800 is I can't afford good food. I eat junk food. 0:22:17.040 --> 0:22:18.840 Why do we have the incarceration going up? Well, now 0:22:18.840 --> 0:22:22.280 I got to rob and steel. So it's not just 0:22:23.640 --> 0:22:26.400 it's not just that things have gotten more expensive. It's 0:22:26.440 --> 0:22:29.080 not just that my quality of life has gone down. 0:22:29.440 --> 0:22:34.160 It's not that they've literally stole my life. So let's 0:22:34.160 --> 0:22:36.200 think about this. Back just a few years ago, under 0:22:36.200 --> 0:22:40.399 President Biden, we had but nine percent inflation. Now it 0:22:40.480 --> 0:22:42.399 was probably twenty percent, but let's just call it the 0:22:42.480 --> 0:22:45.919 nine What does that mean? That means for the average 0:22:45.920 --> 0:22:49.000 person making thirty bucks an hour, they have to work 0:22:49.119 --> 0:22:52.720 ten hours more per month just to have the same 0:22:52.760 --> 0:22:54.439 quality of life that they had before, just to have 0:22:54.480 --> 0:22:57.639 the sayd SA ten hours more per month, ten hours 0:22:57.640 --> 0:22:59.680 that I could have spent with my kid, ten hours 0:22:59.680 --> 0:23:01.200 I could spent with my wife. Ten hours I could 0:23:01.200 --> 0:23:02.600 have spent on a side business. Ten hours I could 0:23:02.600 --> 0:23:05.159 have been in the gym. They took my life, my 0:23:05.320 --> 0:23:07.760 life hours. All of economics is built on the law 0:23:07.760 --> 0:23:10.480 of scarcity. The most scarce sasset in the world is time. 0:23:10.680 --> 0:23:13.320 That's what they took. But then we can see the 0:23:13.320 --> 0:23:15.280 societal destruction of that. And I have to lay out 0:23:15.320 --> 0:23:16.840 the problem because if you don't understand the problem, you 0:23:16.840 --> 0:23:20.159 don't understand the solution. So now we have a way 0:23:20.520 --> 0:23:25.440 to store our wealth, our value, our energy, our life 0:23:25.800 --> 0:23:28.840 energy in an asset that can't be inflated away. So 0:23:28.880 --> 0:23:32.480 bitcoin has a cap of only twenty one million, so 0:23:32.840 --> 0:23:36.240 they can't print more of it. And on top of it, 0:23:37.200 --> 0:23:40.000 they can't seize it, they can't manipulate it, they can't 0:23:40.000 --> 0:23:45.040 steal it. And I can transmit it immediately, immediately for 0:23:45.080 --> 0:23:47.160 almost free. Now people are like, oh, bitcoin's too slow 0:23:47.200 --> 0:23:49.359 and it's too expensive. Okay, that's the twenty sixteen argument. 0:23:49.440 --> 0:23:51.160 Get what the time is here? Like, I can send 0:23:51.200 --> 0:23:53.720 bitcoin faster and cheaper than any any nails right now. 0:23:54.200 --> 0:23:57.680 And by the way, in my setup of the problem, 0:23:58.600 --> 0:24:02.560 faster money was not one of them those things. So 0:24:02.600 --> 0:24:03.720 a lot of times we were like, oh but this 0:24:03.760 --> 0:24:07.040 one's faster. Okay, so we needed faster money. That's the 0:24:07.080 --> 0:24:09.800 cure to all our problem. So like, understand what the 0:24:09.800 --> 0:24:11.840 problem is. So if you understand the solution, right, So 0:24:11.840 --> 0:24:12.920 now we have a way that we can store a 0:24:12.960 --> 0:24:15.080 value in a way that can't be taken from us 0:24:15.520 --> 0:24:17.600 if you think about it right back to like energy, Right, 0:24:17.600 --> 0:24:20.040 So if I dig a hole for four hours and 0:24:20.119 --> 0:24:22.000 I can earn enough to like live for that day, 0:24:22.040 --> 0:24:24.280 what if I worked an extra for us, I worked 0:24:24.320 --> 0:24:26.399 eight hours, Well, now I could save so I have 0:24:26.480 --> 0:24:28.080 some money. So tomorrow I don't have to work. I 0:24:28.080 --> 0:24:29.800 have the money I could pay. So really, if I 0:24:29.840 --> 0:24:31.800 think about that money, it's like my energy. 0:24:32.240 --> 0:24:33.680 It's like a battery like oxygen. 0:24:33.800 --> 0:24:35.679 Yeah, but it's like I think of like a battery, right, 0:24:35.680 --> 0:24:37.800 it's store that energy so I can deploy that energy tomorrow. 0:24:37.840 --> 0:24:39.560 I don't have to work. I don't want to. But 0:24:39.840 --> 0:24:42.200 you don't want your battery to be leaking, like you 0:24:42.200 --> 0:24:43.240 don't want to come out in the morning, and I 0:24:43.280 --> 0:24:45.320 can't start your car, right, And so that's what happens 0:24:45.320 --> 0:24:47.160 with with dollars. And most people know this by now, 0:24:47.200 --> 0:24:49.040 Like you don't store your wealth and dollars people. People 0:24:49.119 --> 0:24:52.320 understand this, It's okay, But biitoin is this revolution where 0:24:52.400 --> 0:24:54.000 now I have this way that I can store it 0:24:54.000 --> 0:24:56.320 in a way that can't be debased. And it's just 0:24:56.359 --> 0:24:59.200 real simple. I say. One of the two greatest tricks 0:24:59.240 --> 0:25:03.280 the FED ever played was one telling people that we 0:25:03.320 --> 0:25:06.399 needed our money supply to always expand, and two that 0:25:06.440 --> 0:25:08.800 asset prices going up is a good thing. Neither of 0:25:08.800 --> 0:25:10.560 those are true. We don't need our money supply to 0:25:10.560 --> 0:25:12.600 go up. Would you rather have your money buy you 0:25:12.640 --> 0:25:14.760 more goods and service in the future or less? And 0:25:14.800 --> 0:25:17.240 so when you have an inflated inflated money supply, it 0:25:17.240 --> 0:25:20.200 always buys you less. A fix my supply buys you more. 0:25:21.280 --> 0:25:23.880 So that's sort of the premise as to why bitcoin Now, 0:25:25.320 --> 0:25:27.000 I'd like to tell you why bitcoin and not the 0:25:27.040 --> 0:25:27.720 other ones? 0:25:27.800 --> 0:25:30.800 Yeah, because I'm writing down law of scarcity. This is 0:25:30.800 --> 0:25:33.800 something that's that's that's big. And is that the difference 0:25:34.200 --> 0:25:37.560 between gold and bitcoin or is it the ledger who 0:25:37.640 --> 0:25:38.680 controls the ledgers? 0:25:39.000 --> 0:25:41.000 It's all three of those, right. So in order to 0:25:41.000 --> 0:25:45.000 have the attributes of sound money, you need portable, divisible, durable, 0:25:45.119 --> 0:25:47.760 recognizable things like that, right. Gold is very durable. I 0:25:47.760 --> 0:25:49.280 can sit in the bottom of the ocean forever. It 0:25:49.280 --> 0:25:52.000 doesn't corrode, right, you can break it down, melt it. 0:25:52.040 --> 0:25:54.560 So gold worked really well and it's the most scarce 0:25:54.600 --> 0:25:56.919 out of the money. That's why won over silver. But 0:25:56.960 --> 0:26:03.359 it's not portable and it's not easily verifiable. So with gold, 0:26:03.359 --> 0:26:05.080 how do I know what the purity is? The waight 0:26:05.160 --> 0:26:07.000 is So they've had all types of coinage and they've 0:26:07.000 --> 0:26:09.119 done all types of things, but like you know, China 0:26:09.160 --> 0:26:11.720 had gold bars with that were tungsten painted as gold, right, 0:26:11.760 --> 0:26:13.640 So like, how do I verify if the gold is real? 0:26:13.720 --> 0:26:16.760 So gold is certainly the best, but it's not portable, okay, 0:26:17.320 --> 0:26:20.439 and it's not verifiable very easily. I need like some 0:26:20.480 --> 0:26:21.760 spectrometer or something to do that. 0:26:21.840 --> 0:26:22.080 Right. 0:26:22.160 --> 0:26:25.119 So gold is and it's the most scarce, but bitcoin 0:26:25.160 --> 0:26:28.320 is more. So Bitcoin is more scarce, Bitcoin is more portable, right, 0:26:28.359 --> 0:26:31.520 and bitcoin is more verifiable. Right, So that's that's why 0:26:31.520 --> 0:26:32.240 it wins over that. 0:26:32.480 --> 0:26:36.360 Okay. So so now yeh dive into bitcoin over other 0:26:36.440 --> 0:26:39.959 cryptocurrencies because even Trump the other day tweeted about it 0:26:40.000 --> 0:26:43.400 was it back coin? Well that, but also like XRP 0:26:44.280 --> 0:26:48.399 Solana he mentioned I don't know if you mentioned ethereum. 0:26:48.640 --> 0:26:50.560 He mentioned it, and so all of those went. 0:26:50.520 --> 0:26:53.439 Up, they went up, and they went back down. So 0:26:55.840 --> 0:26:58.440 when it comes to so first we could talk about 0:26:58.440 --> 0:27:00.639 bitcoin in regards to real estate and all the other assets, 0:27:00.680 --> 0:27:03.439 but let's talk about in regards to cryptocurrency. So you 0:27:03.480 --> 0:27:05.560 need to put a thousand hours in, but I'm giving 0:27:05.560 --> 0:27:09.240 you the crash course here. So, like what is bitcoin? 0:27:09.359 --> 0:27:12.600 So instead of having one database, so like Facebook or 0:27:12.800 --> 0:27:16.480 MySpace or Experience, they're in like a database and there's 0:27:16.520 --> 0:27:18.720 like it's in a company and there's like a cybersecurity 0:27:18.720 --> 0:27:20.480 team that tries to protect it. But every database is 0:27:20.520 --> 0:27:25.119 basically been hacked. Right, so Experience was hacked. I mean 0:27:25.119 --> 0:27:27.880 the NSA was hacked, right, but what happened. What bitcoin 0:27:27.960 --> 0:27:30.639 is is that revolutionary technology that we've never seen before. 0:27:30.720 --> 0:27:32.520 And what it is instead of having one database, it's 0:27:32.560 --> 0:27:35.159 a decentralized ledger. So we now have a thousand or 0:27:35.200 --> 0:27:37.359 a million or ten million ledgers. So if I had 0:27:37.680 --> 0:27:40.480 a bank with a billion dollars, that's a pretty big target. 0:27:40.480 --> 0:27:42.239 Someone might might want to go attack that. But if 0:27:42.240 --> 0:27:45.040 I have a billion banks with one dollar each, and 0:27:45.080 --> 0:27:48.120 so we have this new decentralized ledger. And what happens 0:27:48.200 --> 0:27:51.439 is it's only decentralized if everybody can run one. So 0:27:52.040 --> 0:27:55.240 the bitcoin database is very small. It's about shoot, I 0:27:55.240 --> 0:27:56.520 don't know what it is right now, probably four five 0:27:56.600 --> 0:27:59.240 hundred gigabytes. So that means a kid in Africa with 0:27:59.320 --> 0:28:01.720 like a five year old now top could run a 0:28:01.720 --> 0:28:04.480 bitcoin database. So anyone in the world could run it. 0:28:04.480 --> 0:28:05.960 You could put it onto a thumb drive. Anyone in 0:28:05.960 --> 0:28:08.960 the world could run a database, which means it stays decentralized. 0:28:09.920 --> 0:28:12.520 And what happened is in the beginning, if five people 0:28:12.560 --> 0:28:13.760 run it, or ten people run it, or on a 0:28:13.800 --> 0:28:16.359 hundred people run it's not very strong because what happens 0:28:16.400 --> 0:28:18.600 is the database has to achieve consensus, so I finally 0:28:18.680 --> 0:28:20.560 have to take over ten nodes or fifteen nodes or 0:28:20.600 --> 0:28:23.520 thirty nodes. That's doable. Then we have the mining, so 0:28:23.560 --> 0:28:25.359 we have the node, the database layer, and then we 0:28:25.400 --> 0:28:28.520 have the mining layer. The mining layer is the digital energy, 0:28:28.560 --> 0:28:31.920 so that's what protects the network, that's what processes the transactions. 0:28:32.080 --> 0:28:35.040 So the mining the hashing power is so big, and 0:28:35.080 --> 0:28:36.520 then the database is so big, so you have to 0:28:36.520 --> 0:28:38.880 take over over half of that to even have a chance, 0:28:38.920 --> 0:28:40.480 and you still wouldn't do it, but we have to 0:28:40.520 --> 0:28:42.520 have a chance. So what happened is bitcoin was creating 0:28:42.560 --> 0:28:44.880 this wrinkle in time. It was we call it this 0:28:44.920 --> 0:28:48.280 immaculate conception. We don't know who created who stitutional komotive is, 0:28:48.320 --> 0:28:50.080 but it was creating this in this in this wrinkle 0:28:50.080 --> 0:28:52.479 in time, but nobody knew what it was, and it 0:28:52.520 --> 0:28:55.080 was allowed to grow in the wild for about a 0:28:55.120 --> 0:28:58.200 decade until people realize what was going on, and at 0:28:58.200 --> 0:29:01.160 that point it was too big to kill. The problem 0:29:01.200 --> 0:29:03.480 is today is there's no way to do that again. 0:29:03.600 --> 0:29:06.120 I mean people have tried, okay, because what happens is 0:29:06.200 --> 0:29:10.640 all the other you mentioned Ethereum Ada is one, he 0:29:10.760 --> 0:29:15.960 mentioned Cardano Solana. Those are all basically just centralized ledgers 0:29:16.000 --> 0:29:18.520 over a couple nodes. And the reason why is because 0:29:18.560 --> 0:29:21.720 I can't run an ethereum node. The database is way 0:29:21.720 --> 0:29:24.160 too big. I have to run a Prune version, a 0:29:24.240 --> 0:29:27.280 cryptn version on a professional server in a professional co 0:29:27.440 --> 0:29:31.440 location facility. Kidnappricing can't do that. Hey, small business owner, 0:29:31.640 --> 0:29:34.400 are you buried in all types of work keeping you 0:29:34.440 --> 0:29:37.040 from the real thing that makes you money? Well that's 0:29:37.040 --> 0:29:39.040 where just Works comes in. They're the all in one 0:29:39.080 --> 0:29:42.400 platform that supports small business growth. You can get all 0:29:42.480 --> 0:29:45.680 their tools that help with benefits like payroll and HR 0:29:45.800 --> 0:29:49.800 and compliance with transparent pricing. Now they help you hire 0:29:49.880 --> 0:29:54.560 top talent internationally, internew markets, quickly scale international operations without 0:29:54.560 --> 0:29:57.640 the workload, and for every how do I do it? Question, 0:29:57.800 --> 0:30:00.800 you can reach out to their expert staff from proprietor 0:30:01.120 --> 0:30:04.520 or a team of twenty. Just Works empowers all kinds 0:30:04.560 --> 0:30:08.560 of small businesses with real human support. So visit justworks 0:30:08.600 --> 0:30:11.960 dot com slash podcast to join the thousands of small 0:30:12.000 --> 0:30:15.640 businesses that trust Just Works to take care of payroll, benefits, 0:30:15.800 --> 0:30:20.560 compliance and more. Again that's Just Works dot com slash podcast. 0:30:22.600 --> 0:30:26.920 And so it's created this centralization and so only Bigoin 0:30:26.960 --> 0:30:28.440 has done that. Now other people have tried to do 0:30:28.440 --> 0:30:30.200 something similar, but the problem is now that we know 0:30:30.240 --> 0:30:33.320 about it, it gets attacked immediately. People attack that, they'll double spend, 0:30:33.320 --> 0:30:36.000 they'll steal money off of it, and so now nothing 0:30:36.080 --> 0:30:39.400 can get big enough. It's kind of like when you 0:30:39.400 --> 0:30:44.640 have an invasive species. A rabbit comes over to Australia 0:30:44.720 --> 0:30:47.840 and they don't have a rabbit, or a fish comes 0:30:47.880 --> 0:30:49.480 in we have this problem all over the US, like 0:30:49.600 --> 0:30:52.120 muscles come in or a fish comes in, right, and 0:30:52.160 --> 0:30:55.800 it takes over that habitat, and once it's taken over, like, 0:30:56.840 --> 0:30:58.720 there's nothing else that can really come in and take that. 0:30:58.760 --> 0:31:00.440 So Bitcoin sort of grew in the space and there's 0:31:00.440 --> 0:31:02.360 just nothing else that can be there and that and 0:31:02.400 --> 0:31:04.200 that's why nothing else And so you have to understand 0:31:04.240 --> 0:31:06.760 the technical side of things. What we want is something 0:31:06.760 --> 0:31:09.640 that nobody can control. Ethereum has changed their monetary supply 0:31:09.800 --> 0:31:11.320 like three times in the last two or three. 0:31:11.240 --> 0:31:12.880 Years, a lot of scarcity. He goes out the window. 0:31:12.960 --> 0:31:15.760 And all these other coins, Cardano and xorp they have 0:31:15.800 --> 0:31:19.280 something called governance. They all have governance. So what that 0:31:19.360 --> 0:31:22.040 means is that they have staking. So whoever has the 0:31:22.080 --> 0:31:25.120 most tokens stakes them and whoever has the most token 0:31:25.240 --> 0:31:28.040 staked gets the most votes, and then they vote on 0:31:28.400 --> 0:31:29.760 changes on the on the. 0:31:29.680 --> 0:31:31.719 Oup And none of that exists in bitcoin. 0:31:32.240 --> 0:31:35.360 There is no consensus. I mean, I'm sorry, there's no governance. Yeah, 0:31:35.400 --> 0:31:38.520 it's it's rules, not rulers. 0:31:38.920 --> 0:31:42.280 Yeap. What are some of the biggest conspiracy theories when 0:31:42.320 --> 0:31:43.840 it comes to like the fact that we don't actually 0:31:43.880 --> 0:31:47.440 know who started bitcoin, and like, I'm going to ask 0:31:47.480 --> 0:31:50.560 you to do something difficult, like play Devil's Advocate to like, 0:31:50.600 --> 0:31:53.560 what are some of the biggest cons you think that 0:31:53.680 --> 0:31:54.880 bitcoin has? 0:31:55.120 --> 0:31:55.239 Uh? 0:31:55.560 --> 0:31:55.880 Is it? 0:31:55.920 --> 0:31:56.120 Is it? 0:31:56.120 --> 0:31:58.040 Because I know a talking point back in the day 0:31:58.160 --> 0:31:59.680 was like, it's going to get to a place where 0:31:59.680 --> 0:32:01.720 it's going to be too hard to mine and it's 0:32:01.720 --> 0:32:04.200 going to cost too much and energy. And I talked 0:32:04.240 --> 0:32:06.640 to someone yesterday that says the amount of water that's 0:32:06.680 --> 0:32:09.560 going to have to be used to cool down these machines. 0:32:09.600 --> 0:32:12.240 And so you have some environmentalist people like what are 0:32:12.280 --> 0:32:13.040 something None. 0:32:12.920 --> 0:32:16.200 Of that's true. Okay, none of that's true. I can 0:32:16.240 --> 0:32:18.080 go through each one of those one by one. But 0:32:18.120 --> 0:32:19.880 if you ask me, what is the biggest one today 0:32:19.920 --> 0:32:23.000 that I can think of? Uh, the only threat that 0:32:23.000 --> 0:32:25.920 bitcoin had, we've defeated all those narratives. Now we've even 0:32:25.960 --> 0:32:28.120 defeated the what the government will make it illegal. We've 0:32:28.120 --> 0:32:31.840 defeated that one as well. Obviously, right, Trump has now 0:32:31.880 --> 0:32:34.320 created a strategic bitcoin reserve. It's in the US government. 0:32:34.360 --> 0:32:36.600 He said that the US will be the bitcoin powerhouse 0:32:36.600 --> 0:32:38.680 of the world. Like anyone who's not the government's going 0:32:38.760 --> 0:32:40.400 to make it illegal, Like that's out the window too. 0:32:40.680 --> 0:32:45.440 The biggest one is if if bitcoin can stay decentralized 0:32:45.440 --> 0:32:49.480 and secure, that's just can it? If If as long 0:32:49.520 --> 0:32:54.320 as it continue to stay decentralized and secure, that's it. 0:32:54.360 --> 0:32:57.120 That's the biggest threat. Now, what would have to happen 0:32:57.160 --> 0:33:01.680 for not to be trust me? Over the last seven 0:33:01.720 --> 0:33:03.800 eight years, at all these conferences and events I speak at, 0:33:03.840 --> 0:33:06.200 we stay up late at night playing game theory, and 0:33:06.880 --> 0:33:10.960 I don't know the answer for that. Theoretically it's impossible. 0:33:11.200 --> 0:33:18.959 But anything can happen, right, So possibilities are endless, Probabilities 0:33:19.080 --> 0:33:21.560 are few, so the probability of that happening is very low. 0:33:23.000 --> 0:33:24.800 But some of these things, let's talk about the energy 0:33:24.840 --> 0:33:30.160 one for example. First of all, anyone who says that 0:33:30.280 --> 0:33:32.480 argument should just be disregarded in the first place. And 0:33:32.760 --> 0:33:37.000 here's why. And anyone who knows anything basic stuff knows 0:33:37.080 --> 0:33:39.160 that the wealth of a nation comes from the amount 0:33:39.200 --> 0:33:42.320 of energy they have. The poorest nations in the world 0:33:42.400 --> 0:33:45.440 have no energy, like people in Africa whose kids die 0:33:45.560 --> 0:33:48.000 every single day because they don't even have a hospital 0:33:48.080 --> 0:33:50.760 or an incubator to put their baby in. Wealth of 0:33:50.840 --> 0:33:53.480 nations comes from the energy they have. Energy is a 0:33:53.520 --> 0:33:55.440 good thing, not a bad thing. So anyone who says 0:33:55.480 --> 0:33:57.400 that rapt bactial just be disregarded. But they also don't 0:33:57.440 --> 0:34:02.440 understand biquin either. So in order to make bitcoin mining profitable, 0:34:02.840 --> 0:34:06.920 you need to have about three cents per killowod hour 0:34:07.040 --> 0:34:10.960 power or less. Here in California in the summer, we 0:34:11.000 --> 0:34:12.680 have a tiered system. At the top of the tier 0:34:12.800 --> 0:34:16.720 is forty cents per kilowat hour. You can't mind bitcoin 0:34:16.760 --> 0:34:20.680 in California. So if it's forty cents in California, why 0:34:20.760 --> 0:34:24.360 would someone sell it for three? Well, the law of 0:34:24.360 --> 0:34:26.839 supply and demand is not very basic, and it would 0:34:26.880 --> 0:34:29.319 basically tell me the only reason why someone would sell 0:34:29.360 --> 0:34:32.080 it for three is if they created the energy but 0:34:32.160 --> 0:34:35.840 have no buyers for it. So what happens is the 0:34:35.840 --> 0:34:38.560 way the energy system works, especially now they've completely screwed 0:34:38.680 --> 0:34:41.080 up by putting unreliable power in there from wind and solar, 0:34:41.440 --> 0:34:43.080 is that when I turn my switch on, I expect 0:34:43.120 --> 0:34:47.480 electricity to come on. So we need to always have powers. 0:34:47.520 --> 0:34:49.360 We have baseload, but we also have to be prepared 0:34:49.360 --> 0:34:51.960 for peaks. It gets hot, everyone turns to AC on whatever. 0:34:52.280 --> 0:34:55.360 So what happens is now in unreliable power, wind and solar. 0:34:55.480 --> 0:34:57.960 Sometimes it's not windy and sometimes it's not sunny, and 0:34:58.040 --> 0:34:59.880 so now we have this problem. And so they've been 0:35:00.000 --> 0:35:03.160 building what they call peaker plants. They build an entire 0:35:03.320 --> 0:35:06.399 other plant to be run in the event they need 0:35:06.440 --> 0:35:08.960 more power. So we have this place all over the 0:35:08.960 --> 0:35:12.240 world where power is being created but not being used. 0:35:12.640 --> 0:35:14.920 That would be what I would call the definition of waste. 0:35:15.719 --> 0:35:18.080 They say bitcoin is wasting energy. If you use something, 0:35:18.120 --> 0:35:20.840 that's not a waste, but they're literally making energy and 0:35:20.920 --> 0:35:24.160 not using it. That's a waste. And so bitcoin can 0:35:24.239 --> 0:35:28.400 only operate on wasted energy, energy that's already been created 0:35:28.440 --> 0:35:31.319 and is not being used. And once it starts being used, 0:35:31.360 --> 0:35:34.520 the price starts going up. Competition goes to five cents, 0:35:34.560 --> 0:35:37.719 seven cents, and bitcoin has to pack up and move 0:35:37.760 --> 0:35:42.399 to another district where it's cheaper. And so yeah, anyone 0:35:42.440 --> 0:35:43.880 who said that, first of all, they don't understand ergy 0:35:43.960 --> 0:35:45.919 number two. They don't understand bitcoin at all. So I'd 0:35:45.960 --> 0:35:48.640 say that, and yeah, who cares about that? But ultimately 0:35:48.640 --> 0:35:53.880 I would just say, like bitcoin is the apex predator 0:35:53.960 --> 0:35:57.600 of assets, and the reason why is because all the 0:35:57.640 --> 0:36:02.239 forms of storing our capital today are five to seven 0:36:02.320 --> 0:36:06.200 hundred years old. Stocks equities, right, how long ago was 0:36:06.239 --> 0:36:09.560 that created? Right? The Dutch? The Dutch created a market, 0:36:09.600 --> 0:36:10.960 you know, the stock market. So we have all these 0:36:10.960 --> 0:36:14.160 different assets, and like real estate seems like a good asset, 0:36:14.160 --> 0:36:16.240 but when you look at the maintenance and the property 0:36:16.280 --> 0:36:18.800 taxes and understand what's going on with that, or gold, 0:36:18.840 --> 0:36:20.560 Like where could you have put gold one hundred years 0:36:20.560 --> 0:36:23.319 ago that would still be there today? Yeah, right, and 0:36:23.400 --> 0:36:27.120 so then you look at okay, so then we can 0:36:27.160 --> 0:36:30.040 go into an I'm just gonna throw this out there. 0:36:30.080 --> 0:36:31.520 We don't have time to go down this rabbit hole. 0:36:32.480 --> 0:36:36.240 But if you think about oil, oil is an asset. 0:36:36.280 --> 0:36:39.440 Oil is a commodity. Bitcoin is an asset. Bitcoin's a commodity, 0:36:39.800 --> 0:36:42.799 a commodity being different than in equity, a commodity being 0:36:42.840 --> 0:36:44.759 that anyone anywhere in the world will get it right. 0:36:45.239 --> 0:36:47.080 It's fungible matter where you get it right. There's no 0:36:47.120 --> 0:36:50.000 common issuer, right, whether it's wheat or oranges or oil. 0:36:50.080 --> 0:36:53.520 So bitcoin is that. But you have oil as an asset, 0:36:53.600 --> 0:36:56.440 a commodity that sits around sixty to eighty bucks a 0:36:56.440 --> 0:37:00.320 barrow for the last fifty years, so it buying oil 0:37:00.360 --> 0:37:03.640 itself isn't necessarily the best thing. But there's an oil 0:37:03.760 --> 0:37:06.920 industry that's the eighth largest industry in the world worth 0:37:06.960 --> 0:37:09.480 four point eight trillion dollars. So who made the pressure 0:37:09.520 --> 0:37:11.719 sensor for the oil pipeliner? Who made the sanar for 0:37:11.760 --> 0:37:14.200 the oil tinker? Right? And so we have bitcoin, But 0:37:14.239 --> 0:37:16.239 now we have this bitcoin asset. So when I talk 0:37:16.280 --> 0:37:20.600 about energy systems, for example, bitcoin is now transforming our 0:37:20.680 --> 0:37:23.960 energy grids across the entire world. So we haven't thought 0:37:23.960 --> 0:37:25.359 about that. But if we just think about it from 0:37:25.400 --> 0:37:29.000 assets specifically, and only store value assets, what are the 0:37:29.080 --> 0:37:36.520 things that we're using currently to store our value? Real estate, bonds, equities, cash, 0:37:37.200 --> 0:37:41.520 offshore bank accounts, fine art, collectible's gold. Right now today 0:37:41.520 --> 0:37:45.719 that total is about nine hundred trillion dollars. Now that 0:37:46.360 --> 0:37:48.879 pie continues to grow, So as we continue to pret 0:37:48.880 --> 0:37:51.640 more money that grows at the rate that we're on, 0:37:52.360 --> 0:37:55.279 that nine hundred trillion, by twenty thirty will be one 0:37:55.320 --> 0:38:00.120 point three quadrillion total store value assets. And then you 0:38:00.120 --> 0:38:02.880 just ask yourself, there's thirty to forty trillion in off 0:38:02.880 --> 0:38:05.399 shore bank accounts. Is bitcoin better than that? Sure? 0:38:05.560 --> 0:38:07.640 You start lining it up and you're like Bitcoin is 0:38:07.640 --> 0:38:08.919 superior over all this things. 0:38:08.920 --> 0:38:10.560 It's superior over all those stuff. It doesn't mean they 0:38:10.600 --> 0:38:12.279 all go to zero. What it does mean is that 0:38:12.360 --> 0:38:16.000 Uber is superior to taxis. Taxis are still there today, 0:38:16.360 --> 0:38:18.920 but Uber pulled value. So we have from a venture 0:38:18.920 --> 0:38:21.759 capital lens, we have disruptive technology. We look at the 0:38:21.760 --> 0:38:25.200 market size that it's disrupting. We estimate what a percentage 0:38:25.239 --> 0:38:28.320 we think we can capture from that industry. So Uber 0:38:28.440 --> 0:38:31.120 and Airbnb both captured ten percent of their markets within 0:38:31.239 --> 0:38:34.400 ten years. So then the question is, if bitcoin is 0:38:34.400 --> 0:38:37.160 superior to all those other assets, what percentage of that 0:38:37.239 --> 0:38:40.440 pie do we think is realistic to capture. If it 0:38:40.480 --> 0:38:47.759 could capture one point five percent by twenty thirty, that 0:38:47.840 --> 0:38:51.319 puts it at one million dollars per bitcoin. Wow, now 0:38:51.320 --> 0:38:54.480 that's by twenty thirty, that's twenty five and that's less 0:38:54.480 --> 0:38:56.560 than two percent, is less than to percent. That's twenty 0:38:56.640 --> 0:38:58.480 years after it came out. Uber and Airbnb tod ten 0:38:58.520 --> 0:38:59.440 percent ten years. 0:38:59.719 --> 0:39:05.040 So yeah, that's mark. You have a gift. I've I've 0:39:05.040 --> 0:39:07.680 talked to lots of people and you laid it out 0:39:07.960 --> 0:39:10.040 this better than I've ever heard before. So thank you. 0:39:10.840 --> 0:39:13.919 Were times limited I can we rapid fire some things. 0:39:14.000 --> 0:39:14.640 Let's do it. U. 0:39:15.280 --> 0:39:18.080 I want to understand quickly about the government crypto reserve, 0:39:18.280 --> 0:39:19.840 and like what what what that means? 0:39:20.160 --> 0:39:24.759 So the government crypto reserve. Trump is the master negotiator, YEA. 0:39:25.120 --> 0:39:27.080 The Art of the Deal. He read it, he wrote it. 0:39:27.120 --> 0:39:29.440 If you haven't read the book, just read it. And 0:39:29.520 --> 0:39:32.160 so what one of the one of one tool that 0:39:32.200 --> 0:39:35.560 you have in negotiating is something called anchoring. So you 0:39:35.600 --> 0:39:38.279 throw out something big to anchor or or shift the 0:39:38.280 --> 0:39:41.719 overton window as we call it. Right, So Trump throws 0:39:41.719 --> 0:39:44.600 out crazy things and you think he's crazy nothing. By 0:39:44.640 --> 0:39:47.000 the way, I just listened last night there's an interview 0:39:47.360 --> 0:39:50.640 with Howard Lutnik from the All In, All In podcasts. 0:39:50.680 --> 0:39:51.360 Have you listened to it? 0:39:51.440 --> 0:39:52.680 I have not listened to it, but it's. 0:39:52.880 --> 0:39:54.799 I saw everybody say it's the best interview in the world. 0:39:54.800 --> 0:39:57.920 I watched it last night and I went, holy crap, 0:39:58.040 --> 0:40:01.000 we have the very smartest people in the entire world. 0:40:01.200 --> 0:40:03.240 I've seen clips and it's it's pretty exciting. 0:40:03.320 --> 0:40:05.719 Wow. But anyway, and he puts he's known Trump for 0:40:05.760 --> 0:40:07.640 thirty five years. He paints a picture of him. He 0:40:07.719 --> 0:40:10.400 is not an idiot. Everything he says, is perfectly measured. 0:40:10.440 --> 0:40:13.880 So he came out and said that, well, first in 0:40:14.239 --> 0:40:17.120 the in the in the presidential run, you had burnt 0:40:17.239 --> 0:40:21.200 uh or you had RFK Junior, sorry, still running at 0:40:21.200 --> 0:40:23.000 that time, and he came to the Bitcoin conference said 0:40:23.000 --> 0:40:25.160 he wanted to create a state biccoin reserve. Well, Trump, 0:40:25.160 --> 0:40:26.719 not to be outdone, said well, I'll do that as well. 0:40:26.760 --> 0:40:31.000 Obviously they're working together now, so we also have Senator 0:40:31.040 --> 0:40:33.680 Lummis from Wyoming has already submitted a bill to also 0:40:33.760 --> 0:40:35.359 create this in the government, and lots of people are 0:40:35.360 --> 0:40:37.719 backing this. Now. What Trump did is he came out 0:40:37.719 --> 0:40:40.319 and said, maybe it'll be a crypto asset reserve, and 0:40:40.360 --> 0:40:43.319 maybe we'll do Cardano, when we'll do Solon and all 0:40:43.320 --> 0:40:44.799 these things, and he just kind of threw out all 0:40:44.800 --> 0:40:47.960 that crap and basically got everyone outraged. And not just everybody. 0:40:48.880 --> 0:40:51.719 Brian Armstrong, the CEO of coinbase, which makes all its 0:40:51.719 --> 0:40:54.640 money from people trading those assets, came out and said, whoa, whoa, whoa, 0:40:54.680 --> 0:40:57.440 you can't do that. Only Bitcoin. The head of the 0:40:57.520 --> 0:40:59.839 creator of Solana, came out and said, well even though 0:40:59.840 --> 0:41:01.640 his coin that mentioned, he said, whoa, whoa, whoa, whoa 0:41:01.719 --> 0:41:04.680 we can't like, hang on, hang on, and so everyone's like, no, no, 0:41:04.719 --> 0:41:07.799 just bitcoins is bitcoin. And then bitcoin went through and 0:41:07.840 --> 0:41:11.360 they were very clear when it went through that it 0:41:11.440 --> 0:41:14.440 is only bitcoin. Everything else will be looked at completely 0:41:14.440 --> 0:41:16.719 ply different, will be treated completely different. And they made 0:41:16.800 --> 0:41:18.799 this big differentiator line. 0:41:18.880 --> 0:41:21.520 Does that mean the US is just going to stockpile bitcoin? 0:41:22.120 --> 0:41:25.200 I mean, we don't know exactly, so the details of 0:41:25.239 --> 0:41:27.839 it have not been fully fleshed out. So he said, 0:41:27.880 --> 0:41:30.480 as of right now, any government owned bitcoin that we 0:41:30.520 --> 0:41:32.360 have currently, which was about two hundred thousand or the 0:41:32.360 --> 0:41:35.160 bide administration, but we believe that they've been secretly selling 0:41:35.160 --> 0:41:37.680 it off. But whatever we have left on the books, 0:41:37.680 --> 0:41:39.920 will we kept about two hundred thousand, it's about one 0:41:39.920 --> 0:41:43.080 percent of the suppot. And then they are going to 0:41:43.120 --> 0:41:45.560 create a plan to continue to buy more bitcoin. But 0:41:45.600 --> 0:41:49.839 he called it in a budget neutral way. So what 0:41:49.880 --> 0:41:52.279 can we do to get bitcoin without paying for it? 0:41:52.280 --> 0:41:55.400 Because taxpayers may object to that? So could we trade 0:41:55.400 --> 0:41:57.640 gold for it? You know, could we do it through terror? 0:41:57.800 --> 0:42:00.200 What can we do in a budget neutral way? That's 0:42:00.239 --> 0:42:02.160 what we don't know the details of that yet. But 0:42:02.239 --> 0:42:05.960 when you listen to this interview of Howard Lutnik, who's running. Dude, 0:42:05.960 --> 0:42:07.839 the guy is so smart. You have to listen to this. 0:42:07.920 --> 0:42:11.000 But like he's he's he's helping. He's the Commerce Secretary, 0:42:11.120 --> 0:42:12.920 so he's helping set up this the not only the 0:42:13.040 --> 0:42:16.560 sovereign the Strategic bigcom Reserve, but the Sovereign Wealth Fund 0:42:17.560 --> 0:42:19.560 and so both of those will have bitcoin. Let me 0:42:19.560 --> 0:42:23.560 paint this picture for you. So Howard Lutnik, dude, listen 0:42:23.600 --> 0:42:25.919 to this interview. The guy is so friggin smart. Yeah. 0:42:25.960 --> 0:42:28.520 He owns a company called Cantor Fitzgerald. Right, it's a 0:42:28.520 --> 0:42:32.040 billion dollar Wall Street fund, right, and he had the 0:42:32.080 --> 0:42:34.240 top five floors of the World Trade Center. His company 0:42:34.239 --> 0:42:36.319 got bombed out. Six hundred people that work for him died. 0:42:36.719 --> 0:42:39.959 His company got destroyed. He rebuilt everything, so he's built 0:42:39.960 --> 0:42:43.400 it from the ground up multiple times. Cantor Fitzgerald announced 0:42:43.400 --> 0:42:45.720 that they are going to open up a two billion 0:42:45.760 --> 0:42:49.960 dollars bitcoin equity facility or credit line, So basically institutions 0:42:50.080 --> 0:42:51.440 don't have to sell the bitcoin and they can tap 0:42:51.480 --> 0:42:53.399 into the equity. So that brings two billion dollars back 0:42:53.920 --> 0:42:56.360 to the market. So Cantor Fitzgerald now is sitting in 0:42:56.400 --> 0:42:59.959 the center of this of this bit of this bitcoin web, 0:43:00.120 --> 0:43:03.319 let's call it. Well. Cantor Fitzgerald now also bought a 0:43:03.400 --> 0:43:07.080 billion dollars in micro Strategy in Q four of last year, 0:43:07.480 --> 0:43:10.919 just recently. Whoever's listening to this, you're not smarter than 0:43:11.640 --> 0:43:14.520 Howard Lutnik, You're not smarter than him. He put a 0:43:14.520 --> 0:43:16.120 billion dollars in mic strates. To all these people, Well, 0:43:16.200 --> 0:43:18.960 micro strategy a scam, ponzi. Okay, you're not smarter than him. 0:43:18.960 --> 0:43:20.879 They put a billion dollars that's like forty percent into 0:43:20.960 --> 0:43:24.680 micro Strategy. On the other side, they invested into Tether. 0:43:24.880 --> 0:43:27.160 Tether is the largest stable coin company in the world, 0:43:27.600 --> 0:43:29.839 but that is putting their treasury into bitcoin as well. 0:43:30.360 --> 0:43:35.080 So we have Lutnick, Cantor Fitzgerald, we have micro Strategy, 0:43:35.120 --> 0:43:38.440 and we have Tether. Here now, in his role in 0:43:38.480 --> 0:43:42.759 the government, he's creating the SBR and a Sovereign Wealth 0:43:42.760 --> 0:43:47.120 Fund which will both be centered around bitcoin. Yep, And 0:43:47.160 --> 0:43:49.840 you're bearish, like we have this. One of the smartest 0:43:49.840 --> 0:43:51.840 guys in the world built multiple billions of dollars multiple 0:43:51.840 --> 0:43:55.319 times running the government, building these operations and having his 0:43:55.400 --> 0:43:57.440 money where his mouth is in three different companies that 0:43:57.480 --> 0:44:01.799 are benefiting from this right, and it's made. I just 0:44:01.840 --> 0:44:04.160 made this video on YouTube and I told Mauricio that 0:44:04.200 --> 0:44:07.000 I felt bad now this morning because I watched that video. 0:44:09.360 --> 0:44:11.160 I kind of said, like, hey, he's in the government, 0:44:11.200 --> 0:44:13.399 he's pumping this thing up whatever, and it maybe looked 0:44:13.400 --> 0:44:15.280 at maybe like made it look like a little scammy. 0:44:15.320 --> 0:44:17.040 I didn't for it to be that way. But after 0:44:17.080 --> 0:44:19.600 watching this video, the guy is so smart and he 0:44:19.760 --> 0:44:22.480 is a true American patriot. Like, listen to video. He's 0:44:22.480 --> 0:44:26.440 a true American patriot. And they're not doing it to 0:44:26.480 --> 0:44:29.719 pump their bags. They're not doing it for that. They 0:44:29.760 --> 0:44:31.839 realize it's the best asset in the world. Yeah, they 0:44:31.880 --> 0:44:35.040 realized history. Right, So when China in the late eighteen 0:44:35.120 --> 0:44:37.000 hundreds decided that they were going to stay with the 0:44:37.000 --> 0:44:39.280 silver standard, when the whole world went to a gold standard, 0:44:39.480 --> 0:44:41.880 she kind of lost their place in the world. And 0:44:42.120 --> 0:44:44.200 it's taken them one hundred years to come back. 0:44:44.320 --> 0:44:46.520 Yeah, with the last two minutes, there's a lot of 0:44:46.560 --> 0:44:49.160 questions I don't want to ask, but we are we 0:44:49.200 --> 0:44:52.680 are the wealthiest country because of the American dollar. How 0:44:52.719 --> 0:44:58.040 does crypto? Does crypto threat the US dollar? And then 0:44:58.120 --> 0:45:00.479 let's land the plane because I know we have stop. 0:45:00.600 --> 0:45:02.480 Well, we're not just this, We're not just the wealthiest 0:45:02.480 --> 0:45:04.560 country in the world from the US dollar. Howard Lutnik 0:45:04.600 --> 0:45:07.480 put this into perspective. So you always hear about the 0:45:07.640 --> 0:45:12.360 GDP of the country. You hear about the revenue of 0:45:12.400 --> 0:45:15.799 the country. You're about the debt of the country. As 0:45:15.840 --> 0:45:20.239 a business owner, there's still a number missing. So we 0:45:20.320 --> 0:45:24.080 have thirty six trillion dollars in debt, We have twenty 0:45:24.160 --> 0:45:28.400 nine trillion of GDP. We have six point five trillion 0:45:28.480 --> 0:45:31.320 of spending. We have four point five trillion of revenue. 0:45:31.360 --> 0:45:33.000 So you hear the revenue and spending where two trillion 0:45:33.000 --> 0:45:35.000 dollar definite? That sounds terrible, right, But as a business owner, 0:45:35.000 --> 0:45:39.600 there's one big number missing. What's the balance sheet? What's 0:45:39.640 --> 0:45:43.240 the balance sheet of the United States? Estimated between five 0:45:43.600 --> 0:45:50.000 hundred trillion to a quadrillion. That's the balance sheet. So 0:45:50.200 --> 0:45:52.279 when you have a business guy like a Lutnik coming 0:45:52.320 --> 0:45:54.600 and go, wait a minute, look at the ballance sheet. 0:45:56.080 --> 0:45:58.840 We have five hundred trillion dollars of assets. What is 0:45:58.920 --> 0:46:03.960 thirty six trillion dollar debt. We can balance the budget. 0:46:04.360 --> 0:46:07.200 The debt is miniscool. We can monetize the balance sheet, 0:46:07.320 --> 0:46:10.560 Like what are we doing here, guys? And so anyway 0:46:10.640 --> 0:46:13.080 back to it's not just this because of the currency 0:46:13.120 --> 0:46:15.080 we have the balance sheet anyway, So back to the 0:46:15.120 --> 0:46:18.239 currency question. So the dollars reserve currency of the world. 0:46:18.480 --> 0:46:20.640 I don't think anything is changing that. I did make 0:46:20.640 --> 0:46:24.280 a video recently. So the Trumpet administration, the US government 0:46:24.360 --> 0:46:27.480 is all in on creating the US dollar stable coins. 0:46:28.040 --> 0:46:31.360 And so part of the reason why is the world 0:46:31.920 --> 0:46:35.040 when I talk about the world Peru, Argentina, Lebanon, Turkey, 0:46:35.120 --> 0:46:39.759 et cetera, they desperately want dollars because their currencies are 0:46:39.800 --> 0:46:42.080 exploding all around them, but they're not able to get dollars. 0:46:42.120 --> 0:46:44.680 Their countries keep them from doing that. So US dollars 0:46:44.680 --> 0:46:46.560 stable coins have made it where they can easily get 0:46:46.600 --> 0:46:49.320 to the US dollars. So the world desperately wants US dollars. 0:46:49.960 --> 0:46:53.799 Bitcoin as much as I believe in it, and it's 0:46:53.800 --> 0:46:55.840 the ten x in front, you should be buying it. 0:46:55.840 --> 0:46:59.080 It's too volatile for the average person to be trying 0:46:59.160 --> 0:47:01.400 to be trying to live their life on it. If 0:47:01.400 --> 0:47:02.680 you have money you can put away for five years, 0:47:02.719 --> 0:47:04.200 you should put in a bitcoin. But if I have 0:47:04.280 --> 0:47:06.200 money that I'm trying to spend. I got to pay 0:47:06.200 --> 0:47:08.360 my rent next week. It's too volatile. So the world 0:47:08.360 --> 0:47:10.640 needs dollars, and I think the two complement each other 0:47:10.680 --> 0:47:13.279 in a transitional period. So the US dollar stable coin 0:47:13.360 --> 0:47:17.360 will get to the entire world. And then the government 0:47:17.360 --> 0:47:19.720 also has another problem. The government needs people to buy treasuries. 0:47:20.520 --> 0:47:23.840 So now we have vs. A V. We have the 0:47:23.880 --> 0:47:27.440 world buying stable coins. Stable coins go into treasuries. So 0:47:27.640 --> 0:47:30.920 I believe this will cementt the dollars position in the 0:47:30.920 --> 0:47:34.040 world as the reserve currency. It will only become stronger 0:47:34.080 --> 0:47:36.640 than it already is and will take over everything because 0:47:36.760 --> 0:47:40.280 even countries with their own currencies the people want and dollars, 0:47:40.520 --> 0:47:43.000 the stable coins will get it out there, and working 0:47:43.040 --> 0:47:46.120 together with bitcoin and the dollars, it will cement that position. 0:47:46.160 --> 0:47:48.520 Now we have all these things, we can store wealth 0:47:48.520 --> 0:47:52.080 in gold and collectibles and fine art and all these things. 0:47:52.120 --> 0:47:54.920 It doesn't take away from the dollar. Nobody thinks they 0:47:54.960 --> 0:47:56.720 should be storing their wealth in the dollar. 0:47:57.000 --> 0:47:58.000 It's not a store of value. 0:47:58.120 --> 0:48:00.440 So we store our wealth in other things, and we 0:48:00.560 --> 0:48:02.560 use the dollar to buy your coffee in the morning. 0:48:02.560 --> 0:48:04.080 So I don't see how it really threatens the dollar 0:48:04.160 --> 0:48:06.520 now over a long enough period of time, yes, I 0:48:06.600 --> 0:48:09.640 believe that will happen by about twenty fifty or twenty 0:48:09.719 --> 0:48:12.239 fifty five. Then there's a threat, but I think we 0:48:12.280 --> 0:48:14.160 have the next thirty years in front of us. Mark. 0:48:14.200 --> 0:48:16.359 Thank you. I could talk to you for hours, and 0:48:16.520 --> 0:48:19.000 we will put all your information, including I'm going to 0:48:19.000 --> 0:48:22.520 ask you off camera, any resources on bitcoin that someone's like, 0:48:22.560 --> 0:48:24.720 I'm sold, I want to learn more. We'll have that below. 0:48:25.160 --> 0:48:25.480 Thank you. 0:48:25.640 --> 0:48:26.120 Yeah, thank you,