1 00:00:00,080 --> 00:00:02,760 Speaker 1: Hey, everyone, welcome back to another episode of the Mark 2 00:00:02,880 --> 00:00:06,400 Speaker 1: Moa show where we're talking about bitcoin and the decentralized 3 00:00:06,440 --> 00:00:09,680 Speaker 1: revolution that we are living in right now, we're witnessing 4 00:00:09,800 --> 00:00:12,400 Speaker 1: right now. UM, thanks for joining in. I'm here on 5 00:00:12,440 --> 00:00:15,880 Speaker 1: the same channel at this same time each and every week, 6 00:00:15,920 --> 00:00:17,319 Speaker 1: so make sure to go ahead and set a calendar 7 00:00:17,360 --> 00:00:21,240 Speaker 1: reminder to join me. Try to make it the most profitable, 8 00:00:21,440 --> 00:00:24,720 Speaker 1: the most important, the most yeah, the most important part 9 00:00:24,800 --> 00:00:27,320 Speaker 1: of your week. Trying to bring you the latest information 10 00:00:27,400 --> 00:00:30,120 Speaker 1: on what's happening now. UM. I try to bring you 11 00:00:30,360 --> 00:00:33,040 Speaker 1: the education that you need to understand what's going on, 12 00:00:33,080 --> 00:00:36,400 Speaker 1: and try to bring you the latest, greatest breaking news 13 00:00:36,400 --> 00:00:38,479 Speaker 1: each and every weekend so you can stay up to 14 00:00:38,560 --> 00:00:41,879 Speaker 1: date on the progress of of the market. And then 15 00:00:41,920 --> 00:00:43,279 Speaker 1: I bring to you some of my friends to kind 16 00:00:43,320 --> 00:00:45,920 Speaker 1: of give you some perspective, um and share with you 17 00:00:46,080 --> 00:00:49,519 Speaker 1: what is going on now. One of the things I 18 00:00:49,600 --> 00:00:52,680 Speaker 1: don't talk about a whole lot is the price. The 19 00:00:52,720 --> 00:00:54,640 Speaker 1: price of bitcoin. In my opinion, the price of bitcoin 20 00:00:54,680 --> 00:00:57,279 Speaker 1: is one of the least interesting things about it. I mean, 21 00:00:57,280 --> 00:01:01,160 Speaker 1: we're literally witnessing a brand new technology that's changing the world, 22 00:01:01,560 --> 00:01:04,080 Speaker 1: and sharing looking at the price doesn't give you any 23 00:01:04,120 --> 00:01:06,800 Speaker 1: of that information all It is just a basic number. 24 00:01:07,680 --> 00:01:10,160 Speaker 1: But starting with the price, we can see that if 25 00:01:10,200 --> 00:01:17,040 Speaker 1: you've been paying attention, we are down, meaning that bitcoin 26 00:01:17,160 --> 00:01:19,759 Speaker 1: used to be worth more U S dollars than it 27 00:01:19,800 --> 00:01:22,840 Speaker 1: is today. But that's not a bad thing. That's that's 28 00:01:22,959 --> 00:01:25,240 Speaker 1: that's a good thing in my opinion. Um, not that 29 00:01:25,280 --> 00:01:27,200 Speaker 1: it's off of its high. That's not what the good 30 00:01:27,200 --> 00:01:30,920 Speaker 1: thing is. It's where it's at today. So, like I said, 31 00:01:30,920 --> 00:01:32,360 Speaker 1: I don't spend a lot of time talking about the price, 32 00:01:32,360 --> 00:01:33,479 Speaker 1: and I'm not going to spend a lot of time 33 00:01:33,520 --> 00:01:36,080 Speaker 1: talking about the price right now. But what I do 34 00:01:36,280 --> 00:01:38,600 Speaker 1: like to do in regards to the price is I 35 00:01:38,760 --> 00:01:42,400 Speaker 1: like to gain perspective on things, all right, And so 36 00:01:42,560 --> 00:01:45,080 Speaker 1: if we want to gain some perspective on things, we 37 00:01:45,120 --> 00:01:49,480 Speaker 1: can see that a year ago we were at about 38 00:01:49,760 --> 00:01:55,200 Speaker 1: thirty thousand dollars um. Just six months before that we 39 00:01:55,280 --> 00:01:57,400 Speaker 1: were like ten thousands. Went from like ten thousand and 40 00:01:57,480 --> 00:02:01,279 Speaker 1: thirty thousand a year ago. So, um, we're at forty 41 00:02:01,880 --> 00:02:04,200 Speaker 1: about forty three thousand a day. We're at thirty thousand 42 00:02:04,200 --> 00:02:07,360 Speaker 1: a year ago. Um, that's better than most other assets 43 00:02:07,360 --> 00:02:10,080 Speaker 1: did over the last year. But we went from about 44 00:02:10,120 --> 00:02:12,280 Speaker 1: thirty thousand, and then we did shoot up to a 45 00:02:12,400 --> 00:02:16,600 Speaker 1: high of UM. We got up to about forty two 46 00:02:16,639 --> 00:02:21,840 Speaker 1: thousand in April UM and actually we got up to 47 00:02:22,080 --> 00:02:25,440 Speaker 1: uh sixty five thousand, I should say actually in April, sorry, 48 00:02:25,560 --> 00:02:28,000 Speaker 1: sixty five thousand UM, and then the market crashed and 49 00:02:28,000 --> 00:02:31,720 Speaker 1: then the price came down and we sat for about 50 00:02:31,760 --> 00:02:35,240 Speaker 1: seventy days in this range where bitcoin traded in this 51 00:02:35,320 --> 00:02:37,760 Speaker 1: like thirty thousand dollar range. And so that's the key 52 00:02:37,760 --> 00:02:39,160 Speaker 1: piece that I want to bring in. So we shot 53 00:02:39,200 --> 00:02:43,919 Speaker 1: from like ten thousand two sixty five thousand. It was 54 00:02:43,919 --> 00:02:47,160 Speaker 1: amazing run. And then the price the price pulled all 55 00:02:47,200 --> 00:02:49,080 Speaker 1: the way back to about thirty thousand and sat there 56 00:02:49,120 --> 00:02:51,359 Speaker 1: for about two and a half months. And this is 57 00:02:51,400 --> 00:02:52,880 Speaker 1: the key piece I want to draw your attention to. 58 00:02:53,400 --> 00:02:55,600 Speaker 1: So we we kind of consolidated around the thirty thousand 59 00:02:55,600 --> 00:02:58,079 Speaker 1: price and then it shot up again, and this time 60 00:02:58,480 --> 00:03:01,959 Speaker 1: it passed the previous all time I six to sixty nine. 61 00:03:02,480 --> 00:03:04,799 Speaker 1: And now it's pulled back and we're about forty three 62 00:03:04,840 --> 00:03:08,079 Speaker 1: right now, So it's consolidating around the forty dollar price range. 63 00:03:08,080 --> 00:03:12,400 Speaker 1: And so what we're looking at is we pulled back 64 00:03:12,520 --> 00:03:16,839 Speaker 1: and consolidated a floor around the thirty dollar price range. 65 00:03:16,880 --> 00:03:20,040 Speaker 1: We shot higher and this time pulled back and we're 66 00:03:20,080 --> 00:03:23,880 Speaker 1: consolidating around a forty dollar price floor. And so what 67 00:03:23,919 --> 00:03:26,880 Speaker 1: you're looking at is you're looking at higher lows and 68 00:03:26,919 --> 00:03:29,919 Speaker 1: so it's building support at those levels. So don't look 69 00:03:29,919 --> 00:03:32,320 Speaker 1: at where it's off from the high, look at how 70 00:03:32,400 --> 00:03:34,560 Speaker 1: much progress it's making off of the lows. So I 71 00:03:34,560 --> 00:03:37,000 Speaker 1: think that's the key piece there. Um But what I 72 00:03:37,080 --> 00:03:38,800 Speaker 1: tell you each and every week and why I try 73 00:03:38,840 --> 00:03:40,760 Speaker 1: to bring to you the latest breaking news, is that 74 00:03:41,200 --> 00:03:44,200 Speaker 1: the price is one of the least interesting things. And 75 00:03:44,200 --> 00:03:47,480 Speaker 1: the reason why is when you're looking at a new technology, 76 00:03:47,960 --> 00:03:50,680 Speaker 1: the price isn't what's important. What's important when you're looking 77 00:03:50,680 --> 00:03:54,760 Speaker 1: at new technology is two things. One the growth of 78 00:03:54,800 --> 00:03:57,920 Speaker 1: the network, is the network growing or more people using it, 79 00:03:58,000 --> 00:04:00,880 Speaker 1: are more options to use it growing. It's kind Metcalf's law. 80 00:04:01,280 --> 00:04:03,520 Speaker 1: The bigger the network gets, the more valuable it is. 81 00:04:04,240 --> 00:04:06,440 Speaker 1: And the second thing is we're looking at is what 82 00:04:06,640 --> 00:04:10,200 Speaker 1: is the development happening on the network? Is it growing, 83 00:04:10,480 --> 00:04:14,280 Speaker 1: is it um it is evolving, etcetera. And so that's 84 00:04:14,280 --> 00:04:16,200 Speaker 1: what that's what I try to focus on and I 85 00:04:16,200 --> 00:04:17,680 Speaker 1: try to bring to you each and every week, and 86 00:04:17,960 --> 00:04:22,400 Speaker 1: um Man, every week. There is a lot going on. 87 00:04:22,800 --> 00:04:24,719 Speaker 1: So if you ignore the price and you look at 88 00:04:24,800 --> 00:04:26,520 Speaker 1: the growth and the development on the network, you will 89 00:04:26,560 --> 00:04:29,840 Speaker 1: start to see a completely different thing. The price will 90 00:04:29,880 --> 00:04:31,360 Speaker 1: get there, Okay, the price will get there. If you 91 00:04:31,440 --> 00:04:34,400 Speaker 1: zoom out, have a long time perspective, the price is 92 00:04:34,400 --> 00:04:36,000 Speaker 1: going to get there. But some of the big things 93 00:04:36,000 --> 00:04:38,360 Speaker 1: that are happening, of course, one of the biggest news 94 00:04:38,400 --> 00:04:41,240 Speaker 1: stories of two one, one that I was super excited 95 00:04:41,279 --> 00:04:45,680 Speaker 1: for is that a country of El Salvador actually adopted 96 00:04:45,680 --> 00:04:51,160 Speaker 1: bitcoin as legal tender. Now, a lot of people ask themselves, Um, 97 00:04:51,240 --> 00:04:53,560 Speaker 1: you know, is the dollar going to die? Will the 98 00:04:53,600 --> 00:04:57,120 Speaker 1: dollar lose the reserve currency status? What's the next reserve currency? 99 00:04:57,200 --> 00:05:00,280 Speaker 1: Will it be the Chinese Juan, will it be goal, 100 00:05:00,320 --> 00:05:04,120 Speaker 1: Will we go back to gold, Will it be a CBDC, etcetera. Right, 101 00:05:04,480 --> 00:05:06,880 Speaker 1: The problem is, I think, is they're they're looking, they're asking, 102 00:05:07,160 --> 00:05:10,599 Speaker 1: or they're looking for a centralized answer. But the future 103 00:05:11,080 --> 00:05:13,800 Speaker 1: is decentralized. And so what I mean by that is 104 00:05:13,800 --> 00:05:17,240 Speaker 1: that my reserve asset is bitcoin for me, I don't 105 00:05:17,279 --> 00:05:21,760 Speaker 1: care what yours is minus bitcoin For SMP five. Publicly 106 00:05:21,760 --> 00:05:25,039 Speaker 1: traded companies like micro Strategy, their reserve asset is also 107 00:05:25,080 --> 00:05:27,240 Speaker 1: a bitcoin. Now it may not be true for every 108 00:05:27,240 --> 00:05:30,720 Speaker 1: public trading company, and it's not, but it's true for them. 109 00:05:30,839 --> 00:05:33,800 Speaker 1: And then we have countries like Al Savador who have 110 00:05:33,880 --> 00:05:35,560 Speaker 1: also made it there is as well, and so the 111 00:05:35,560 --> 00:05:40,200 Speaker 1: future is decentralized. Now. Um, you have the right, you 112 00:05:40,200 --> 00:05:42,279 Speaker 1: have the freedom to choose what you want to be 113 00:05:42,320 --> 00:05:45,800 Speaker 1: a reserve asset, and so you don't have to use bitcoin, 114 00:05:45,960 --> 00:05:47,440 Speaker 1: you don't have to buy any But what I would 115 00:05:47,440 --> 00:05:49,560 Speaker 1: tell you is that what you choose to store your 116 00:05:49,560 --> 00:05:52,599 Speaker 1: wealth in matters. Now. The reason why I bring up 117 00:05:52,600 --> 00:05:56,760 Speaker 1: Al Savador is because it's game theory. Um. Game theory 118 00:05:56,880 --> 00:05:58,800 Speaker 1: is kind of like the game of musical chairs if 119 00:05:58,800 --> 00:06:00,800 Speaker 1: you remember playing that as a kid. Um, you walk 120 00:06:00,800 --> 00:06:02,680 Speaker 1: around and round around to the music stops and hopefully 121 00:06:02,720 --> 00:06:04,280 Speaker 1: you're one of the people that get to the chair. 122 00:06:04,600 --> 00:06:07,480 Speaker 1: So the last person there loses. And so El Salvador 123 00:06:07,560 --> 00:06:12,120 Speaker 1: was the first nation, and I'm President Bruckle of El Salvador. 124 00:06:12,200 --> 00:06:13,960 Speaker 1: He put out on Twitter. I think he said that 125 00:06:14,040 --> 00:06:17,559 Speaker 1: he predicted, I forget two or three more countries would 126 00:06:17,560 --> 00:06:22,520 Speaker 1: come to bitcoin this year in and here we go, 127 00:06:23,240 --> 00:06:26,960 Speaker 1: here we go. So this week we saw a small nation. 128 00:06:27,000 --> 00:06:29,479 Speaker 1: It's not a big one but doesn't matter a small 129 00:06:29,640 --> 00:06:33,080 Speaker 1: the small nation of Tonga put together a bill through 130 00:06:33,120 --> 00:06:37,839 Speaker 1: their parliament um that basically copied almost identically the El 131 00:06:37,920 --> 00:06:42,280 Speaker 1: Salvador Bill to make bitcoin legal tender. There, so it's 132 00:06:42,320 --> 00:06:45,560 Speaker 1: another domino that's you know, ready to fall down. Um 133 00:06:45,760 --> 00:06:49,760 Speaker 1: Lord Fusita, he's a member, former member of parliament for Tonga. 134 00:06:50,279 --> 00:06:53,559 Speaker 1: Um he released this statement for bitcoin becoming legal tender, 135 00:06:53,680 --> 00:06:57,600 Speaker 1: and Tonga, like I said, copying El Salvador's playbook, and 136 00:06:57,640 --> 00:07:01,040 Speaker 1: they said that they could onboard more than one hundred 137 00:07:01,040 --> 00:07:04,400 Speaker 1: thousand Tongans onto the bitcoin network. So you know it's 138 00:07:04,400 --> 00:07:08,640 Speaker 1: not billions, like hundreds of millions, but still it's it's 139 00:07:08,680 --> 00:07:11,960 Speaker 1: another nation. You put together a kind of a five 140 00:07:12,000 --> 00:07:15,040 Speaker 1: point plan um which is basically, you know, kind of 141 00:07:15,080 --> 00:07:17,280 Speaker 1: all happening this year, goes to parliament, they vote on 142 00:07:17,320 --> 00:07:18,680 Speaker 1: and they have a couple of couple of weeks to 143 00:07:18,760 --> 00:07:20,520 Speaker 1: kind of figure it out and then what the what 144 00:07:20,640 --> 00:07:23,880 Speaker 1: the date will be. Now, some of you listening might go, 145 00:07:24,000 --> 00:07:27,760 Speaker 1: why the heck doesn't matter? Um, you know, who cares 146 00:07:27,760 --> 00:07:30,360 Speaker 1: if a country doesn't or or even more, why why 147 00:07:30,440 --> 00:07:33,400 Speaker 1: would a country want to do that? Remember? Why? Well, 148 00:07:33,400 --> 00:07:35,080 Speaker 1: one thing you have to understand is that for most 149 00:07:35,080 --> 00:07:36,640 Speaker 1: of the countries around the world, they bring in an 150 00:07:36,680 --> 00:07:40,760 Speaker 1: ort amount amount of income based off of remittances. And 151 00:07:40,800 --> 00:07:43,040 Speaker 1: so people leave their country, they go work in another country, 152 00:07:43,080 --> 00:07:45,040 Speaker 1: and they have to send money back home. And so 153 00:07:45,120 --> 00:07:47,400 Speaker 1: that's what happens in ol Salvadore, what happens all over 154 00:07:47,440 --> 00:07:51,760 Speaker 1: the place. Now, Tonga receives more income from remittances than 155 00:07:51,920 --> 00:07:56,200 Speaker 1: any other country in the world. So thirty percent of 156 00:07:56,240 --> 00:07:59,840 Speaker 1: household income in Tonga is made up of remittances, which 157 00:08:00,080 --> 00:08:03,160 Speaker 1: a lot. But the problem is is that those remittances 158 00:08:03,160 --> 00:08:06,679 Speaker 1: typically sent over Western Union things like that, they're very 159 00:08:06,720 --> 00:08:09,640 Speaker 1: expensive to use. As a matter of fact, depending on 160 00:08:09,640 --> 00:08:11,680 Speaker 1: the amount you're sending, you could spend anywhere up to 161 00:08:11,960 --> 00:08:15,960 Speaker 1: thirty percent of the amount of money sent is spent 162 00:08:16,080 --> 00:08:19,920 Speaker 1: in fees. And so if if a thirty percent of 163 00:08:19,920 --> 00:08:23,520 Speaker 1: your income or percent of the income and in the 164 00:08:23,560 --> 00:08:27,520 Speaker 1: country of Tonga is coming from remittances and thirty percent 165 00:08:27,560 --> 00:08:30,240 Speaker 1: of that it's fees, that's a lot of money. That's 166 00:08:30,240 --> 00:08:33,559 Speaker 1: pretty bad. And by sending it via bitcoin, you can 167 00:08:33,600 --> 00:08:37,640 Speaker 1: do it for free for free. So imagine if you 168 00:08:37,880 --> 00:08:42,280 Speaker 1: personally were able to increase your income by thirty percent, 169 00:08:42,480 --> 00:08:46,120 Speaker 1: what that would do to you. And remember, um, about 170 00:08:46,120 --> 00:08:48,160 Speaker 1: thirty percent of household income is made of remittances, and 171 00:08:48,160 --> 00:08:51,400 Speaker 1: they can say thirty percent on fees. That is a massive, 172 00:08:51,559 --> 00:08:54,880 Speaker 1: massive movement. According to the World Bank, Tonga's remittance as 173 00:08:54,880 --> 00:08:57,360 Speaker 1: a percentage of gross domestic product is substantially higher than 174 00:08:57,320 --> 00:09:03,520 Speaker 1: Alsavador at thirty nine percent versus respectively. So um, that's 175 00:09:03,600 --> 00:09:08,680 Speaker 1: another Oh and it's a smartphone penetration exceeds nine in Tonga, 176 00:09:08,760 --> 00:09:11,319 Speaker 1: so they're ready to go. Um, it's another shoot to 177 00:09:11,440 --> 00:09:15,040 Speaker 1: drop game theories and play. Um. Who's gonna be the 178 00:09:15,040 --> 00:09:17,280 Speaker 1: next country? I'm interested to find out. I can't wait 179 00:09:17,320 --> 00:09:19,000 Speaker 1: to see. Like you listening to the Mark Moa Show, 180 00:09:19,000 --> 00:09:21,640 Speaker 1: We're talking about bitcoin. We're talking about the decentralized movement 181 00:09:21,640 --> 00:09:23,800 Speaker 1: that's sweeping the world right now, talking about the second 182 00:09:23,840 --> 00:09:26,400 Speaker 1: country that just is working to adopt it as legal currency. 183 00:09:26,840 --> 00:09:30,360 Speaker 1: I have even more news coming. Do not go. We're back, 184 00:09:30,800 --> 00:09:33,320 Speaker 1: all right, welcome back. You are listening to the Mark 185 00:09:33,400 --> 00:09:36,679 Speaker 1: ma Show and we are talking about bitcoin. What else 186 00:09:36,720 --> 00:09:39,000 Speaker 1: would I be talking about. We're talking about bitcoin. We're 187 00:09:39,000 --> 00:09:41,760 Speaker 1: talking about this decentralized revolution that is sweeping in the world, 188 00:09:42,400 --> 00:09:45,040 Speaker 1: and we're talking about the most important things with bitcoin, 189 00:09:45,120 --> 00:09:49,000 Speaker 1: which are not the price, but are rather we're talking 190 00:09:49,040 --> 00:09:53,400 Speaker 1: about the network growth and the development that's happening on 191 00:09:53,480 --> 00:09:55,120 Speaker 1: the network. Those are the two things that you should 192 00:09:55,160 --> 00:09:58,080 Speaker 1: be looking at when you're looking at new technologies. The 193 00:09:58,120 --> 00:09:59,679 Speaker 1: price will get there, all right, the price will take 194 00:09:59,679 --> 00:10:02,400 Speaker 1: care of its off. But is the network growing and 195 00:10:02,800 --> 00:10:05,680 Speaker 1: um is it developing and so um. Before the break, 196 00:10:05,720 --> 00:10:07,640 Speaker 1: I was talking about how the second country in the 197 00:10:07,679 --> 00:10:11,079 Speaker 1: world now is working on adopting bitcoin is legal tender. UM. 198 00:10:11,080 --> 00:10:13,280 Speaker 1: That's the nation of Tonga. I won't go back through that, 199 00:10:13,720 --> 00:10:16,200 Speaker 1: but that is big news. Not so much because Tonga 200 00:10:16,280 --> 00:10:20,160 Speaker 1: is such a big country, UM, more because it's another country. 201 00:10:20,240 --> 00:10:22,040 Speaker 1: So it's not the size of the country, it's that 202 00:10:22,080 --> 00:10:26,360 Speaker 1: it is another country. And UM game theory is in order, 203 00:10:26,400 --> 00:10:28,120 Speaker 1: and I think, you know, a second country does it, 204 00:10:28,200 --> 00:10:29,760 Speaker 1: and then a third country and fourth the next thing 205 00:10:29,760 --> 00:10:33,160 Speaker 1: you know, it starts happening pretty pretty quickly. So that 206 00:10:33,240 --> 00:10:35,920 Speaker 1: was one big news UM. And there's lots of other 207 00:10:35,920 --> 00:10:38,120 Speaker 1: things that are being done to to continue to push 208 00:10:38,160 --> 00:10:39,840 Speaker 1: this UM. I saw it just here in the United 209 00:10:39,840 --> 00:10:42,280 Speaker 1: States a matter of fact, and you might be interested 210 00:10:42,280 --> 00:10:44,640 Speaker 1: in this actually, so here in the United States, we 211 00:10:44,679 --> 00:10:50,400 Speaker 1: saw in Northwest Arkansas. Northwest Arkansas is offering ten thousand 212 00:10:50,440 --> 00:10:57,800 Speaker 1: dollars in bitcoin and a free bike if you relocate there. Wow. 213 00:10:58,040 --> 00:11:01,800 Speaker 1: So Northwest Arkansas hopes to lure remote tech workers and 214 00:11:01,920 --> 00:11:04,559 Speaker 1: entrepreneurs to the region by offering them ten thousand dollars 215 00:11:04,600 --> 00:11:08,440 Speaker 1: worth of bitcoin and a bicycle. Northwest Arkansas is one 216 00:11:08,480 --> 00:11:11,280 Speaker 1: of the fastest growing regions in the country and we're 217 00:11:11,320 --> 00:11:15,959 Speaker 1: now seeing more explosive growth in our tech sector, um, 218 00:11:16,000 --> 00:11:18,920 Speaker 1: which is pretty cool. Um. So, you know one thing 219 00:11:18,960 --> 00:11:22,080 Speaker 1: that's that's going to reshape the world it already is, 220 00:11:22,080 --> 00:11:25,480 Speaker 1: is that the Internet has changed the way that we work, um. 221 00:11:25,559 --> 00:11:27,040 Speaker 1: And not only do the way that we work, but 222 00:11:27,080 --> 00:11:30,280 Speaker 1: where we work. And so you know, you used to 223 00:11:30,320 --> 00:11:32,320 Speaker 1: have to work if you wanted to make money, had 224 00:11:32,320 --> 00:11:33,800 Speaker 1: to be in the United States, that's where all the 225 00:11:33,960 --> 00:11:36,520 Speaker 1: that's where all the whole economy was, and not just 226 00:11:36,520 --> 00:11:37,920 Speaker 1: in the United Station to be in a city, right, 227 00:11:37,960 --> 00:11:39,079 Speaker 1: so had to be in a big city, that's where 228 00:11:39,080 --> 00:11:42,320 Speaker 1: all the jobs were. But the Internet has started to 229 00:11:42,400 --> 00:11:44,600 Speaker 1: break that apart, and now you can basically live anywhere 230 00:11:44,600 --> 00:11:46,760 Speaker 1: you want as long as you have internet, internet connection 231 00:11:46,760 --> 00:11:50,440 Speaker 1: and of course the internet. I'm sorry the pandemic really 232 00:11:50,559 --> 00:11:53,120 Speaker 1: really kick that into high gear. Um. A lot of 233 00:11:53,120 --> 00:11:55,640 Speaker 1: people who thought they could never work online were now 234 00:11:55,679 --> 00:11:57,559 Speaker 1: forced to and they found out they like it. A 235 00:11:57,640 --> 00:11:59,280 Speaker 1: lot of businesses who thought they could never have a 236 00:11:59,280 --> 00:12:01,360 Speaker 1: remote staff are forced to and they found out they 237 00:12:01,400 --> 00:12:04,600 Speaker 1: like it as well. And so UM it really really 238 00:12:04,600 --> 00:12:06,520 Speaker 1: really kick started this. And what we're seeing is is 239 00:12:06,600 --> 00:12:09,760 Speaker 1: we're going to see this massive trend, this massive reshuffle 240 00:12:09,840 --> 00:12:12,120 Speaker 1: of not just the country, but the world. So all 241 00:12:12,160 --> 00:12:15,200 Speaker 1: through the United States we have people moving to Idaho 242 00:12:15,360 --> 00:12:18,200 Speaker 1: or Montana or Wyoming or Kansas or wherever they want 243 00:12:18,520 --> 00:12:21,120 Speaker 1: because now, for the first time ever, people can actually 244 00:12:21,240 --> 00:12:24,720 Speaker 1: live where they want to live, as opposed to living 245 00:12:24,800 --> 00:12:28,760 Speaker 1: where they have to work. And so this doesn't just 246 00:12:29,640 --> 00:12:31,880 Speaker 1: doesn't just change the way the United States is made up. 247 00:12:31,880 --> 00:12:34,520 Speaker 1: This changes the way the world is made up, because 248 00:12:34,559 --> 00:12:36,400 Speaker 1: now I don't just have to live in United States. 249 00:12:36,400 --> 00:12:37,720 Speaker 1: I can go live in El Salvador, I can go 250 00:12:37,720 --> 00:12:39,280 Speaker 1: live in Tonga, or I can go live in Mexico 251 00:12:39,400 --> 00:12:43,839 Speaker 1: or wherever I want to. UM. I know, I have 252 00:12:43,880 --> 00:12:49,400 Speaker 1: a little brother. He recently moved to um Missouri from California. 253 00:12:49,760 --> 00:12:52,400 Speaker 1: And the reason why is because one he works on 254 00:12:52,440 --> 00:12:54,480 Speaker 1: the Internet. It doesn't matter where he lives. And too, 255 00:12:54,840 --> 00:12:56,559 Speaker 1: he was able to buy I think a four bedroom 256 00:12:56,600 --> 00:13:00,160 Speaker 1: house on like a really big lot with a big 257 00:13:00,160 --> 00:13:03,959 Speaker 1: grassy yard. And his payment is five hundred dollars a month, 258 00:13:05,320 --> 00:13:06,880 Speaker 1: five hundred bucks a month. And he has all the 259 00:13:06,880 --> 00:13:08,600 Speaker 1: same things. He has all the you know, he has 260 00:13:08,600 --> 00:13:10,400 Speaker 1: a gym, and he has the restaurants, and he has 261 00:13:10,400 --> 00:13:13,360 Speaker 1: the stores. He's everything. He's just a Missouri But what 262 00:13:13,400 --> 00:13:15,400 Speaker 1: does he care because he just all he needs is 263 00:13:15,440 --> 00:13:17,920 Speaker 1: access to the internet, and he's fine. And so a 264 00:13:17,960 --> 00:13:20,120 Speaker 1: lot of people should actually probably think about this. And 265 00:13:20,160 --> 00:13:23,640 Speaker 1: so anyway, this goes back to Arkansas. UM, the expanded 266 00:13:23,679 --> 00:13:26,640 Speaker 1: incentive offer Bitcoin and a bike not only embraces the 267 00:13:26,640 --> 00:13:28,800 Speaker 1: growing trend towards the use of cryptocurrency as a payment 268 00:13:28,800 --> 00:13:32,400 Speaker 1: option by employers, but also helps increase our pipeline of 269 00:13:32,440 --> 00:13:35,960 Speaker 1: talent to benefit tech employers, startups, cities, local businesses, and 270 00:13:36,040 --> 00:13:40,840 Speaker 1: the region overall. End quote. So I mean again, we 271 00:13:40,920 --> 00:13:44,840 Speaker 1: can see how cities like Miami are adopting like this 272 00:13:44,840 --> 00:13:47,080 Speaker 1: bitcoin standard and saying that people could pay their fees 273 00:13:47,120 --> 00:13:50,120 Speaker 1: in bitcoin. Um, the city managers are asking to get 274 00:13:50,160 --> 00:13:52,760 Speaker 1: paid in bitcoin. And now we have cities not just 275 00:13:52,800 --> 00:13:54,560 Speaker 1: saying you can pay your fees in bitcoin, but they're 276 00:13:54,720 --> 00:13:59,360 Speaker 1: literally incentivizing people to move into the area by giving 277 00:13:59,520 --> 00:14:02,920 Speaker 1: them big coin. Um. It says here, if you're interested, 278 00:14:04,200 --> 00:14:06,720 Speaker 1: you get a street or a mountain bike to explore 279 00:14:06,760 --> 00:14:09,199 Speaker 1: the outdoors. And it says potential transplants must be able 280 00:14:09,240 --> 00:14:12,239 Speaker 1: to relocate to northwest Arkansas within six months of acceptance, 281 00:14:12,559 --> 00:14:15,160 Speaker 1: sign a lease for local housing or purchase a house, 282 00:14:15,720 --> 00:14:17,400 Speaker 1: be at least twenty four years old, and have a 283 00:14:17,480 --> 00:14:20,880 Speaker 1: full time remote employment. So if you work on the 284 00:14:20,920 --> 00:14:24,480 Speaker 1: internet and you can live anywhere you want, you can 285 00:14:24,520 --> 00:14:27,440 Speaker 1: move to Arkansas and get ten thousand dollars worth a bitcoin. Now, 286 00:14:27,720 --> 00:14:29,560 Speaker 1: if bitcoin does what we think you can do in 287 00:14:29,600 --> 00:14:32,840 Speaker 1: five years, that could be a lot of money and 288 00:14:32,840 --> 00:14:35,480 Speaker 1: you could be living a good life in uh in Arkansas. 289 00:14:35,600 --> 00:14:40,640 Speaker 1: So interesting. Again, the network is growing. I like that one. 290 00:14:40,680 --> 00:14:44,360 Speaker 1: We also saw, you know, a lot of people talking 291 00:14:44,400 --> 00:14:51,440 Speaker 1: about last week. I talked about fund fear, uncertainty, and doubt, 292 00:14:51,520 --> 00:14:55,120 Speaker 1: all these reasons why people don't like bitcoin. Um, it's 293 00:14:55,120 --> 00:14:58,520 Speaker 1: too expensive, the government's gonna make it illegal, it's too slow, 294 00:14:58,760 --> 00:15:00,960 Speaker 1: on and on and on, and there's no shortage of 295 00:15:01,120 --> 00:15:03,320 Speaker 1: those I shot down I don't know ten of them 296 00:15:03,440 --> 00:15:05,720 Speaker 1: last week I think, go back and check out that 297 00:15:05,720 --> 00:15:08,000 Speaker 1: past issue. You can just search Mark Moss I Heart 298 00:15:08,120 --> 00:15:13,160 Speaker 1: or Mark Moss podcast and you'll find that. UM. But 299 00:15:13,240 --> 00:15:15,160 Speaker 1: one of the things that I do is I try 300 00:15:15,200 --> 00:15:17,280 Speaker 1: to always keep in mind that I'm not the smartest 301 00:15:17,280 --> 00:15:19,680 Speaker 1: person in the world, and so what I want to 302 00:15:19,720 --> 00:15:20,960 Speaker 1: do is I want to look at and see what 303 00:15:21,000 --> 00:15:22,800 Speaker 1: other smart people are doing. A matter of fact, I 304 00:15:22,840 --> 00:15:25,240 Speaker 1: don't want to be the smartest person in in a 305 00:15:25,360 --> 00:15:27,920 Speaker 1: deal in a room, and so I've been doing private 306 00:15:27,960 --> 00:15:31,120 Speaker 1: deal investing for a really long time most of my career. 307 00:15:31,760 --> 00:15:34,600 Speaker 1: I think, I UM. When I look at these private deals, 308 00:15:34,600 --> 00:15:39,160 Speaker 1: typically late stage venture or pre I p O. One 309 00:15:39,200 --> 00:15:41,360 Speaker 1: of my things that I look at is who else 310 00:15:41,480 --> 00:15:44,880 Speaker 1: is in on the deal? Are there other smart people 311 00:15:45,080 --> 00:15:48,200 Speaker 1: in on the deal? And if so, that gives me 312 00:15:48,240 --> 00:15:51,240 Speaker 1: a level of confidence that like, hey, I'm not I'm 313 00:15:51,280 --> 00:15:52,920 Speaker 1: not I'm not alone on this. I'm not an idiot 314 00:15:52,960 --> 00:15:55,040 Speaker 1: like these other smart people like it as well. And 315 00:15:55,080 --> 00:15:56,880 Speaker 1: so a lot of people don't like bitcoin, and they 316 00:15:56,920 --> 00:15:58,880 Speaker 1: have their reasons why they doubt it, which is fine, 317 00:15:59,040 --> 00:16:01,680 Speaker 1: and you should doubt it, but look at the smart 318 00:16:01,760 --> 00:16:04,640 Speaker 1: people that are in on the deal. This week we 319 00:16:04,640 --> 00:16:07,440 Speaker 1: found out another one there's lots and lots and lots 320 00:16:07,440 --> 00:16:09,640 Speaker 1: of them. But this week we saw billionaire investor Bill 321 00:16:09,680 --> 00:16:13,480 Speaker 1: Miller now has fifty percent, fifty percent of his personal 322 00:16:13,880 --> 00:16:16,840 Speaker 1: wealth in bitcoin. Now I'm talking about a billionaire investor 323 00:16:17,920 --> 00:16:20,800 Speaker 1: of his personal wealth in bitcoin. Um and that's a lot, 324 00:16:20,840 --> 00:16:23,440 Speaker 1: it says uh And And the reason why Bill Miller 325 00:16:23,560 --> 00:16:28,760 Speaker 1: is famous is because he's been able to beat the 326 00:16:29,000 --> 00:16:33,760 Speaker 1: SNP five index for a record breaking fifteen years in 327 00:16:33,800 --> 00:16:38,520 Speaker 1: a row from two thousand five. That's pretty big deal. 328 00:16:38,840 --> 00:16:41,760 Speaker 1: So typically you uh, let me, let me tell you 329 00:16:41,760 --> 00:16:44,040 Speaker 1: how big of a deal that is. So this year 330 00:16:44,120 --> 00:16:51,720 Speaker 1: two SPID is last year. Now smp FI broke records 331 00:16:51,760 --> 00:16:53,840 Speaker 1: as one of the best years ever and out of 332 00:16:54,040 --> 00:16:57,320 Speaker 1: all the top hedge funds in the in Wall Street, 333 00:16:57,640 --> 00:17:03,160 Speaker 1: only three of them able to outperform. Out of hundreds, 334 00:17:03,240 --> 00:17:07,080 Speaker 1: only three were able to outperform what the SMP five 335 00:17:07,160 --> 00:17:09,680 Speaker 1: under did. He did it for fifteen years in a row. 336 00:17:10,440 --> 00:17:13,560 Speaker 1: It's a pretty big deal. Now, another caveat to that 337 00:17:13,680 --> 00:17:16,600 Speaker 1: is that while only three Wall Street hedge funds were 338 00:17:16,600 --> 00:17:21,520 Speaker 1: able to do that, there were thirty five members of 339 00:17:21,840 --> 00:17:27,440 Speaker 1: Congress that we're able to do that. So three, only three, 340 00:17:27,560 --> 00:17:30,400 Speaker 1: out of all the best hedge funds, of the smartest traders, 341 00:17:30,440 --> 00:17:32,560 Speaker 1: smartest investors in the world, only three of them could 342 00:17:32,560 --> 00:17:37,160 Speaker 1: beat it. But thirty five congress people beat it. It's 343 00:17:37,160 --> 00:17:40,080 Speaker 1: pretty interesting. It's almost like you would think they might 344 00:17:40,119 --> 00:17:45,480 Speaker 1: have some insider information. But anyway, it's a different subject. Um. 345 00:17:45,520 --> 00:17:47,359 Speaker 1: So anyways, Bill Miller, like I said, the only three 346 00:17:47,400 --> 00:17:49,640 Speaker 1: people could beat it, he did it for fifteen years 347 00:17:49,640 --> 00:17:52,080 Speaker 1: in a row. He's not an idiot. He's a pretty 348 00:17:52,119 --> 00:17:56,159 Speaker 1: smart guy. And he says that he's so bullish on 349 00:17:56,200 --> 00:17:59,240 Speaker 1: bitcoin um and his investments tied closely to the crypto 350 00:17:59,440 --> 00:18:04,000 Speaker 1: represent fifty percent of his personal assets. Um, I'm gonna 351 00:18:04,040 --> 00:18:06,840 Speaker 1: tell you about what he bought and what his recommendation 352 00:18:07,000 --> 00:18:09,200 Speaker 1: is for you. So don't go away because you want 353 00:18:09,200 --> 00:18:11,439 Speaker 1: to hear what his recommendation is for you in regards 354 00:18:11,480 --> 00:18:13,160 Speaker 1: to the asset. You're listening to the markma Show. I'll 355 00:18:13,160 --> 00:18:15,199 Speaker 1: be right back, all right, welcome back. You're listening to 356 00:18:15,240 --> 00:18:17,720 Speaker 1: the Mark Moa Show, and we are talking about bitcoin. 357 00:18:18,040 --> 00:18:20,840 Speaker 1: Of course, like you didn't know, we're talking about bitcoine. 358 00:18:20,840 --> 00:18:23,480 Speaker 1: We're talking about the decentralized revolution today. We're talking about 359 00:18:23,600 --> 00:18:25,960 Speaker 1: right now some of the latest breaking news of the weekend, 360 00:18:26,440 --> 00:18:28,879 Speaker 1: and I was talking about one of the one of 361 00:18:28,880 --> 00:18:33,600 Speaker 1: the most successful investors in the world, um and what 362 00:18:33,640 --> 00:18:36,040 Speaker 1: he's doing. His name is Bill Miller. And when I 363 00:18:36,080 --> 00:18:37,800 Speaker 1: say one of the most successful investors in the world, 364 00:18:38,119 --> 00:18:42,800 Speaker 1: he famously beat the SMP five index for fifteen years 365 00:18:42,960 --> 00:18:46,359 Speaker 1: in a row. And I was saying, how this, uh, 366 00:18:46,480 --> 00:18:50,080 Speaker 1: the last year the markets were crazy, and of all 367 00:18:50,080 --> 00:18:52,840 Speaker 1: the head funds all of Wall Street, there was only three. 368 00:18:53,240 --> 00:18:55,280 Speaker 1: Out of hundreds and hundreds hundreds or however many, there 369 00:18:55,280 --> 00:18:58,640 Speaker 1: are only three, we're able to beat the SPI dred. 370 00:18:58,680 --> 00:19:01,239 Speaker 1: He did it for fifteen years in a row. So 371 00:19:01,280 --> 00:19:03,199 Speaker 1: he's pretty smart. So no matter how smart you are 372 00:19:03,359 --> 00:19:06,640 Speaker 1: in investing, you're probably not smarter than him. I'm not um, 373 00:19:06,800 --> 00:19:08,440 Speaker 1: and so when I look at someone like him, I 374 00:19:09,200 --> 00:19:12,360 Speaker 1: tend to listen. I tend to listen. And so um. 375 00:19:12,440 --> 00:19:15,840 Speaker 1: He said that he has fifty percent of his UM 376 00:19:16,000 --> 00:19:18,440 Speaker 1: money into bitcoin now. But that doesn't mean that you should. 377 00:19:18,520 --> 00:19:20,480 Speaker 1: Let's hear what he has to say here. So he 378 00:19:20,520 --> 00:19:24,840 Speaker 1: said that, uh. He said that he had he started 379 00:19:24,840 --> 00:19:27,480 Speaker 1: buying some early early on, but then he didn't buy 380 00:19:27,480 --> 00:19:31,200 Speaker 1: any for a really long time until last year. He said. 381 00:19:31,240 --> 00:19:33,080 Speaker 1: Last year, when he saw the price hit new highs 382 00:19:33,280 --> 00:19:36,000 Speaker 1: and then it started to fall sharply. He thought that 383 00:19:36,160 --> 00:19:38,359 Speaker 1: was a good time to buy the dip. That so 384 00:19:38,400 --> 00:19:40,080 Speaker 1: what happens is, whenever the price makes to a whole 385 00:19:40,080 --> 00:19:41,800 Speaker 1: time my eyes, everybody wants to start buying. Friends I 386 00:19:41,800 --> 00:19:43,520 Speaker 1: haven't talked to in years, all of a sudden start 387 00:19:43,560 --> 00:19:46,359 Speaker 1: messaging me and saying should I buy? Should I buy? 388 00:19:46,920 --> 00:19:49,280 Speaker 1: It was like, it's the top of the market. Uh, 389 00:19:49,359 --> 00:19:51,800 Speaker 1: And they said should should I wait for a dip? 390 00:19:52,560 --> 00:19:54,120 Speaker 1: And then as soon as the dip comes, nobody wants 391 00:19:54,160 --> 00:19:57,560 Speaker 1: to buy. So bitcoin was at sixty nine thousand, now 392 00:19:57,560 --> 00:20:01,120 Speaker 1: it's at whenever thousand, and people are afraid to buy. 393 00:20:01,320 --> 00:20:03,200 Speaker 1: Everyone thinks they want to buy the dip until we're 394 00:20:03,200 --> 00:20:05,160 Speaker 1: in the dip. But that's exactly what he did. He saw, 395 00:20:05,160 --> 00:20:06,480 Speaker 1: I want to hit new highs and then it started 396 00:20:06,480 --> 00:20:08,120 Speaker 1: to fall sharply. He thought that was a good time 397 00:20:08,160 --> 00:20:09,920 Speaker 1: to buy the dip, so he did. He started buying 398 00:20:09,920 --> 00:20:13,560 Speaker 1: again at thirty thirty dollars after it had fallen off 399 00:20:13,600 --> 00:20:17,199 Speaker 1: of the sixty high. He said the reason was that 400 00:20:17,240 --> 00:20:19,280 Speaker 1: there were a lot more people using it, not to 401 00:20:19,320 --> 00:20:22,199 Speaker 1: mention that venture capitalists and others were investing into it. 402 00:20:23,840 --> 00:20:26,760 Speaker 1: Miller said he thinks bitcoin is best thought of as 403 00:20:26,920 --> 00:20:29,520 Speaker 1: a digital golden as. What he's saying that a store 404 00:20:29,560 --> 00:20:34,119 Speaker 1: of value. Um and uh. He says that he's only 405 00:20:34,200 --> 00:20:38,520 Speaker 1: recently allowed himself to be called a bitcoin bowl rather 406 00:20:38,640 --> 00:20:42,160 Speaker 1: than just a bitcoin observer, because he feels that it's 407 00:20:42,200 --> 00:20:47,200 Speaker 1: now developed into a game changing technology. So what I 408 00:20:47,240 --> 00:20:50,359 Speaker 1: would ask you to do is whatever biases you have 409 00:20:50,480 --> 00:20:54,680 Speaker 1: in your mind, just put those aside. Here's somebody who's 410 00:20:54,800 --> 00:20:57,680 Speaker 1: very successful, and you can see his lineup, thinking, now, 411 00:20:58,000 --> 00:21:00,119 Speaker 1: does this mean that you should put fifty of your 412 00:21:00,119 --> 00:21:03,320 Speaker 1: money into bitcoin like he did? No, it definitely doesn't. 413 00:21:03,400 --> 00:21:07,119 Speaker 1: So let me explain what he says that you should do. So, 414 00:21:07,160 --> 00:21:12,680 Speaker 1: he says, despite his own heavily concentrated position, Miller's advice 415 00:21:12,840 --> 00:21:16,360 Speaker 1: for the average investor is to put only one percent 416 00:21:16,720 --> 00:21:20,399 Speaker 1: of your net worth in bitcoin, reasoning that if you 417 00:21:20,520 --> 00:21:23,560 Speaker 1: put one percent of your portfolio in it for diversification, 418 00:21:23,840 --> 00:21:26,240 Speaker 1: even if it goes to zero, which I think is 419 00:21:26,320 --> 00:21:29,720 Speaker 1: highly improbable. I'm reading his quote. Um, but of course 420 00:21:29,720 --> 00:21:32,880 Speaker 1: it's possible. You can always afford to lose one percent 421 00:21:33,520 --> 00:21:36,240 Speaker 1: end quote. That's what he said. So you might have heard, 422 00:21:36,359 --> 00:21:38,600 Speaker 1: you know, only invest what you're willing to lose kind 423 00:21:38,600 --> 00:21:41,480 Speaker 1: of a thing. So he's like, hey, put one percent. 424 00:21:41,520 --> 00:21:43,720 Speaker 1: If you lose one percent, you're not even gonna notice it, right, 425 00:21:44,280 --> 00:21:46,280 Speaker 1: But if it goes up to where we think it is, 426 00:21:46,280 --> 00:21:49,680 Speaker 1: that could be life changing. Now, Um, that's his advice. 427 00:21:49,800 --> 00:21:51,960 Speaker 1: Of course, I am not giving you advice. This is 428 00:21:52,000 --> 00:21:55,359 Speaker 1: not financial advice. But he has of his of his 429 00:21:55,400 --> 00:21:58,639 Speaker 1: portfolio in there, and so um, listen what he says, 430 00:21:58,760 --> 00:22:01,879 Speaker 1: but also look at what he does and you make 431 00:22:01,960 --> 00:22:04,640 Speaker 1: up your own mind. Think about the risk return profile 432 00:22:04,680 --> 00:22:07,280 Speaker 1: for you. Now, a lot of people, myself included, don't 433 00:22:07,280 --> 00:22:09,639 Speaker 1: really look at bitcoin as an investment. I look at 434 00:22:09,680 --> 00:22:12,520 Speaker 1: it more of a savings So I'm not trying to 435 00:22:12,560 --> 00:22:13,720 Speaker 1: put it in there to make a bunch of money. 436 00:22:13,760 --> 00:22:16,120 Speaker 1: I'm trying to put in there to preserve a bunch 437 00:22:16,119 --> 00:22:19,400 Speaker 1: of money, to save a bunch of money. And so 438 00:22:19,760 --> 00:22:21,919 Speaker 1: instead of putting money in there that you can afford 439 00:22:21,920 --> 00:22:24,159 Speaker 1: to lose, I'm putting money in there that I can't 440 00:22:24,840 --> 00:22:28,240 Speaker 1: afford to lose. It's a different way around. Um. He 441 00:22:28,280 --> 00:22:30,399 Speaker 1: went on to say, quote, I think the average investor 442 00:22:30,440 --> 00:22:33,159 Speaker 1: should ask himself or herself, what do you have in 443 00:22:33,200 --> 00:22:38,720 Speaker 1: your portfolio that has that kind of track record. Number 444 00:22:38,760 --> 00:22:43,000 Speaker 1: one is very, very underpenetrated. Can provide a service of 445 00:22:43,119 --> 00:22:47,160 Speaker 1: insurance against financial catastrophe that no one else can provide 446 00:22:47,400 --> 00:22:53,040 Speaker 1: and can go up ten to fifty times. The answer 447 00:22:53,200 --> 00:22:56,680 Speaker 1: is nothing end quote. That's what he said. I mean 448 00:22:57,400 --> 00:22:59,439 Speaker 1: now I would say the same thing, but I'm reading 449 00:22:59,440 --> 00:23:01,280 Speaker 1: to him n d M because he's one of the 450 00:23:01,320 --> 00:23:04,080 Speaker 1: most successful investors in the world fifteen years beating the 451 00:23:04,160 --> 00:23:07,399 Speaker 1: SP five. That's what he says. What do you have 452 00:23:07,440 --> 00:23:09,040 Speaker 1: in your PORTFOLI that has that kind of track record. 453 00:23:09,440 --> 00:23:12,600 Speaker 1: UM is very underpenetrated. Can provide a service of insurance 454 00:23:12,640 --> 00:23:15,400 Speaker 1: against financial catastrophe. Remember I was saying, UM, you can 455 00:23:15,840 --> 00:23:17,800 Speaker 1: look about look at it like putting money and you 456 00:23:17,840 --> 00:23:20,280 Speaker 1: can afford to lose, or I say put money in 457 00:23:20,400 --> 00:23:22,400 Speaker 1: I can't afford to lose. And that's what he says, right. 458 00:23:22,920 --> 00:23:27,479 Speaker 1: UM is a service or insurance against finance catastrophe, and 459 00:23:27,560 --> 00:23:29,960 Speaker 1: it can go up ten to fifty times, So you 460 00:23:30,000 --> 00:23:34,440 Speaker 1: can be an investment or insurance. It can be both. UM. 461 00:23:34,560 --> 00:23:36,520 Speaker 1: I like those odds. I like those odds a lot. 462 00:23:36,560 --> 00:23:38,760 Speaker 1: What do you think. I love it when you guys 463 00:23:38,760 --> 00:23:41,920 Speaker 1: send me tweets. I'm pretty active on Twitter. The number 464 00:23:41,920 --> 00:23:44,560 Speaker 1: one Mark Moss. That's just the number one, the new 465 00:23:44,680 --> 00:23:47,919 Speaker 1: Numero Uno one. Mark Moss sent me a message tell 466 00:23:47,960 --> 00:23:50,560 Speaker 1: me you heard me on the radio. I'd love to 467 00:23:50,600 --> 00:23:53,920 Speaker 1: hear from you. I love to you answer your questions live. 468 00:23:54,840 --> 00:23:57,480 Speaker 1: UM Another another big piece of news that broke this 469 00:23:57,520 --> 00:24:00,359 Speaker 1: week that I'm actually super excited for, or I think 470 00:24:00,480 --> 00:24:03,040 Speaker 1: is amazing. I've talked about a couple of times before 471 00:24:03,080 --> 00:24:07,080 Speaker 1: on the show, and that is the Twitter um founder 472 00:24:07,080 --> 00:24:10,359 Speaker 1: and CEO Jack Dorsey, who's no longer the CEO of 473 00:24:10,400 --> 00:24:13,440 Speaker 1: Twitter anymore. That's a few weeks ago. UM. Dorsey has 474 00:24:13,520 --> 00:24:16,520 Speaker 1: left um Twitter, and he's also still running Square, which 475 00:24:16,600 --> 00:24:21,000 Speaker 1: is the payment company, and he left He's He's told us, 476 00:24:21,040 --> 00:24:24,160 Speaker 1: he's famously told us that he left Twitter to focus 477 00:24:24,640 --> 00:24:28,680 Speaker 1: on bitcoin. That's his goal. I want to focus on bitcoin. 478 00:24:29,720 --> 00:24:33,720 Speaker 1: And not only that. He UM changed the name of 479 00:24:33,720 --> 00:24:36,080 Speaker 1: Square to block because he wants to focus on bitcoin. 480 00:24:37,040 --> 00:24:39,280 Speaker 1: And uh, he just said that he thinks there's nothing 481 00:24:39,359 --> 00:24:41,880 Speaker 1: more important in his life to work on than bitcoin. 482 00:24:42,400 --> 00:24:46,280 Speaker 1: And again back to UM. Smarter people than me. UM. 483 00:24:46,400 --> 00:24:48,640 Speaker 1: We have Bill Bill Miller, one of the best investors 484 00:24:48,640 --> 00:24:50,159 Speaker 1: in the world, and now we have Jack Dorsey, one 485 00:24:50,160 --> 00:24:53,960 Speaker 1: of the best creators. Wealth creators in the world. And 486 00:24:53,960 --> 00:24:56,840 Speaker 1: when they say these things, I tend to listen. And um, 487 00:24:56,920 --> 00:24:59,199 Speaker 1: he has been putting his money where his mouth is, 488 00:24:59,320 --> 00:25:02,520 Speaker 1: so to speak. And um, he has been building up 489 00:25:02,560 --> 00:25:05,240 Speaker 1: bitcoin services. And one of the things he did this week, 490 00:25:05,280 --> 00:25:09,240 Speaker 1: which I thought was amazing, is that he started a 491 00:25:09,359 --> 00:25:13,800 Speaker 1: fund to defend bitcoin developers. So remember, what are the 492 00:25:13,800 --> 00:25:16,520 Speaker 1: two things were supposed to be looking at. Repeat them 493 00:25:16,520 --> 00:25:19,520 Speaker 1: back to me. They are one growth of the networking 494 00:25:19,600 --> 00:25:22,840 Speaker 1: to development on the network. And the problem is is 495 00:25:22,880 --> 00:25:25,600 Speaker 1: that we have a bunch of developers, bitcoin developers that 496 00:25:25,600 --> 00:25:30,000 Speaker 1: have been getting attacked. There's some jerk, we'll call him 497 00:25:30,000 --> 00:25:32,760 Speaker 1: that for the radio friendly people out there. Um, this 498 00:25:32,960 --> 00:25:36,000 Speaker 1: this jerk, Craig Right, pretends that he is, uh, he's 499 00:25:36,040 --> 00:25:39,800 Speaker 1: the real Satoshi Nakamoto. Of course he's got no evidence 500 00:25:39,800 --> 00:25:42,119 Speaker 1: to back this up, but he's got a bunch of 501 00:25:42,160 --> 00:25:46,960 Speaker 1: money and he's happy to file lawsuits. And so, um, 502 00:25:46,960 --> 00:25:49,359 Speaker 1: this guy, Craig Right has been starting to file a 503 00:25:49,359 --> 00:25:56,320 Speaker 1: bunch of lawsuits against various bitcoin developers. And uh. The 504 00:25:56,320 --> 00:25:58,240 Speaker 1: problem is, these bitcoin developers don't make a bunch of 505 00:25:58,240 --> 00:26:02,159 Speaker 1: money and they can't afford a bunch of lawsuits. And 506 00:26:02,240 --> 00:26:05,160 Speaker 1: so a lot of the developers have been disappearing. They've 507 00:26:05,200 --> 00:26:06,920 Speaker 1: been going into hiding. They don't want to get sued, 508 00:26:07,000 --> 00:26:09,480 Speaker 1: they don't have the money for it. And remember, the 509 00:26:09,520 --> 00:26:12,439 Speaker 1: growth of the network depends on the development happening, and 510 00:26:12,440 --> 00:26:14,800 Speaker 1: if the developers disappeared, what happens to the network. And 511 00:26:14,840 --> 00:26:19,200 Speaker 1: so Jack Dorsey stepped up and created a legal defense 512 00:26:19,240 --> 00:26:23,600 Speaker 1: fund for bitcoin developers as the community faces quote multifront 513 00:26:23,760 --> 00:26:26,399 Speaker 1: litigation and threats that have forced some with legal support 514 00:26:26,440 --> 00:26:32,159 Speaker 1: to capitulate end quote. And so Jack Dorsey, along with 515 00:26:32,920 --> 00:26:36,440 Speaker 1: chain code Labs co founder Alex Marcos and academic Martin 516 00:26:36,480 --> 00:26:40,879 Speaker 1: White Uh founded this Bitcoin Defense Fund Board to fund 517 00:26:41,240 --> 00:26:44,199 Speaker 1: to fund these developers and help them fight back against 518 00:26:44,200 --> 00:26:47,160 Speaker 1: these legal bills. Which is amazing because, as I said, 519 00:26:47,200 --> 00:26:49,040 Speaker 1: we want to continue to have the development and we 520 00:26:49,040 --> 00:26:50,760 Speaker 1: need to keep them on board. I love to see 521 00:26:50,800 --> 00:26:55,280 Speaker 1: someone like Dorsey leave uh you know, traditional mainstream social 522 00:26:55,320 --> 00:26:59,040 Speaker 1: media whatever, and go work on something he finds to 523 00:26:59,119 --> 00:27:02,919 Speaker 1: be much more powerful, much more important. Really a lesson 524 00:27:02,920 --> 00:27:06,080 Speaker 1: for all of us. I say, over and over and over, 525 00:27:06,560 --> 00:27:10,360 Speaker 1: build the world that we want, and so too many 526 00:27:10,359 --> 00:27:12,480 Speaker 1: of us are thinking that we're victims in this world 527 00:27:12,680 --> 00:27:14,159 Speaker 1: and we don't like the way things are going. I 528 00:27:14,200 --> 00:27:16,760 Speaker 1: don't like the medical system, I don't like the education system, 529 00:27:16,800 --> 00:27:20,360 Speaker 1: I don't like the um financial system, whatever it is. 530 00:27:20,520 --> 00:27:23,280 Speaker 1: But instead of focusing on the bad things that you 531 00:27:23,359 --> 00:27:26,560 Speaker 1: don't want, focus on what you do want. Go build 532 00:27:26,600 --> 00:27:29,600 Speaker 1: the world that you want, following an example of Jack Dorsey, 533 00:27:31,000 --> 00:27:33,200 Speaker 1: and it starts with the money, unlocking the money. UM. 534 00:27:33,200 --> 00:27:36,640 Speaker 1: When I come back, I have some more late breaking 535 00:27:36,680 --> 00:27:39,040 Speaker 1: news to keep you in the know. I'll be right 536 00:27:39,080 --> 00:27:41,520 Speaker 1: back with more. Don't go away. Hey everyone, welcome back. 537 00:27:41,600 --> 00:27:43,640 Speaker 1: You were listening to the Markma Show. We're talking about 538 00:27:43,680 --> 00:27:46,960 Speaker 1: bitcoin and we're talking about this decentralized revolution and I'm 539 00:27:47,000 --> 00:27:51,919 Speaker 1: talking about the latest breaking news of the weekend. Now, 540 00:27:52,960 --> 00:27:55,080 Speaker 1: one of the most important things in life is just 541 00:27:55,119 --> 00:27:57,680 Speaker 1: your education. I mean it's it's really at the foundation 542 00:27:57,720 --> 00:28:02,400 Speaker 1: of everything. UM. You die it UM how to get 543 00:28:02,400 --> 00:28:04,440 Speaker 1: ahead and business, how to invest, how to get along 544 00:28:04,480 --> 00:28:06,360 Speaker 1: with other people, how to manage your time. It all 545 00:28:06,480 --> 00:28:09,320 Speaker 1: comes down to education. And of course where you focus 546 00:28:09,359 --> 00:28:15,320 Speaker 1: that education on. And bitcoin is UM. There's a technological revolution. 547 00:28:15,320 --> 00:28:20,040 Speaker 1: It's the largest shift in humanity that will witness in 548 00:28:20,040 --> 00:28:22,959 Speaker 1: our lifetimes. And with that shift, I mean, it's going 549 00:28:23,000 --> 00:28:25,919 Speaker 1: to change the world. It also presents massive opportunity with 550 00:28:25,960 --> 00:28:29,320 Speaker 1: the wealth transfer that's happening, has already begun happening and 551 00:28:29,359 --> 00:28:32,399 Speaker 1: will continue happening. And in order to take advantage of that, 552 00:28:32,400 --> 00:28:33,840 Speaker 1: in order to be a positioned properly, you have to 553 00:28:33,880 --> 00:28:38,000 Speaker 1: have the education for that. And so UM, I'm trying 554 00:28:38,040 --> 00:28:40,600 Speaker 1: to bring you the latest up to date information for that. Now, 555 00:28:40,720 --> 00:28:42,320 Speaker 1: as I say each and every week, it's not the 556 00:28:42,320 --> 00:28:44,400 Speaker 1: price that we should be paying attention to on brand 557 00:28:44,400 --> 00:28:46,200 Speaker 1: new technology. We want to focus on the growth of 558 00:28:46,200 --> 00:28:48,320 Speaker 1: the network and we also want to focus on the 559 00:28:48,360 --> 00:28:50,040 Speaker 1: focus on the development. So that's what we talked about. 560 00:28:50,880 --> 00:28:52,320 Speaker 1: But some of the other things that we also have 561 00:28:52,360 --> 00:28:54,400 Speaker 1: to know is why why do we need that, Why 562 00:28:54,480 --> 00:28:56,360 Speaker 1: is it important? Why do I care about it? And 563 00:28:56,400 --> 00:29:02,000 Speaker 1: things like that. Now, Um, this week we saw record 564 00:29:02,360 --> 00:29:07,640 Speaker 1: breaking inflation. We saw the cp I, the cp LIE 565 00:29:07,800 --> 00:29:09,680 Speaker 1: as I like to call it, but the CPI which 566 00:29:09,720 --> 00:29:13,040 Speaker 1: is a consumer price inflation or index, I should say, 567 00:29:13,080 --> 00:29:16,680 Speaker 1: and basically what it does is the FED um, the 568 00:29:16,720 --> 00:29:19,840 Speaker 1: BLS actually the Bureau Liiver Statistics gets a basket of 569 00:29:19,840 --> 00:29:21,560 Speaker 1: goods and they price them. So let's say you go 570 00:29:21,600 --> 00:29:23,280 Speaker 1: grocery shopping and you put a little bit of steak 571 00:29:23,320 --> 00:29:24,480 Speaker 1: and you put a little bit of milk, and you 572 00:29:24,480 --> 00:29:25,720 Speaker 1: put a little bit of cheese, and you put a 573 00:29:25,760 --> 00:29:27,880 Speaker 1: little bit of whatever, and then they measure how much 574 00:29:27,880 --> 00:29:30,760 Speaker 1: that costs. And then throughout time they track that same basket. 575 00:29:31,520 --> 00:29:33,760 Speaker 1: A couple a couple of problems with that. One is 576 00:29:33,800 --> 00:29:37,240 Speaker 1: that they change the basket all the time. They're constantly 577 00:29:37,320 --> 00:29:39,640 Speaker 1: changing the basket. That's a big problem. And of course 578 00:29:39,680 --> 00:29:41,560 Speaker 1: they change the basket to show the number that they 579 00:29:41,560 --> 00:29:44,320 Speaker 1: want to show. So, for example, they do something called 580 00:29:44,360 --> 00:29:47,880 Speaker 1: the substitution rule. So, UM, steak has become too expensive, 581 00:29:47,880 --> 00:29:50,080 Speaker 1: so now we're gonna take steak out. Let's put hamburger 582 00:29:50,120 --> 00:29:53,720 Speaker 1: meat in instead. So you can still buy quote unquote meat, 583 00:29:53,960 --> 00:29:56,280 Speaker 1: although it used to be prime rib or filet, and 584 00:29:56,320 --> 00:29:59,360 Speaker 1: now you get hamburger meat. Um, or why don't we 585 00:29:59,360 --> 00:30:01,960 Speaker 1: just get um hamburger meat out and let's just put 586 00:30:02,000 --> 00:30:04,160 Speaker 1: ground turkey meat in instead. And so they do this 587 00:30:04,200 --> 00:30:07,040 Speaker 1: substitution thing, and so that's a big scam. Another thing 588 00:30:07,040 --> 00:30:09,480 Speaker 1: that they do is um they don't look at the 589 00:30:09,520 --> 00:30:12,000 Speaker 1: price of the home. For example, they use something called 590 00:30:12,000 --> 00:30:15,840 Speaker 1: like rent equivalence, and so UM homes went, you know up. 591 00:30:17,360 --> 00:30:19,480 Speaker 1: But they say, well, but but it's not the price 592 00:30:19,520 --> 00:30:22,160 Speaker 1: of the home. It's how much the homeowner could rent 593 00:30:22,320 --> 00:30:25,080 Speaker 1: the price of the rent the home out for and 594 00:30:25,120 --> 00:30:28,080 Speaker 1: so use this like rent equivalence. Now, if we go 595 00:30:28,160 --> 00:30:31,760 Speaker 1: back to the way they measured CPI back in the eighties, 596 00:30:31,760 --> 00:30:33,200 Speaker 1: so there was a big change in the nineteen eighties, 597 00:30:33,200 --> 00:30:35,040 Speaker 1: there's a big change in the nine nineties as well. 598 00:30:35,680 --> 00:30:38,520 Speaker 1: But they told us that the inflation is seven percent, 599 00:30:38,680 --> 00:30:41,440 Speaker 1: which is is the highest been in four decades and 600 00:30:41,480 --> 00:30:44,400 Speaker 1: really it's the highest ever. Um. But if we went 601 00:30:44,400 --> 00:30:46,480 Speaker 1: back and we readjusted it for the way they used 602 00:30:46,520 --> 00:30:48,760 Speaker 1: to calculate back, remember how they changed the basket to 603 00:30:48,800 --> 00:30:52,480 Speaker 1: go back to the original basket from about we'd see 604 00:30:52,520 --> 00:30:56,720 Speaker 1: that we're well over fifteen with inflation. But again, uh, 605 00:30:56,800 --> 00:30:59,240 Speaker 1: as I went through UH a few hours ago talking 606 00:30:59,240 --> 00:31:03,600 Speaker 1: about inflation can't really be measured by a number. So 607 00:31:03,760 --> 00:31:05,880 Speaker 1: the price of homes on Lake Travis outside of Austin 608 00:31:05,920 --> 00:31:09,680 Speaker 1: have gone up over a So how does that pent 609 00:31:09,840 --> 00:31:12,800 Speaker 1: or the seven percent inflation fit that? Um, it doesn't 610 00:31:12,880 --> 00:31:17,760 Speaker 1: right stakes go, used cars have gone up, I think, Um, 611 00:31:17,840 --> 00:31:19,440 Speaker 1: the average meeting home in the US has gone up. 612 00:31:20,560 --> 00:31:22,680 Speaker 1: So where do they come up with seven percent? Like 613 00:31:23,000 --> 00:31:25,000 Speaker 1: I was, inflation in seven percent. When all the things 614 00:31:25,080 --> 00:31:28,400 Speaker 1: I'm buying gas from my truck, steak for my grill, 615 00:31:28,720 --> 00:31:30,680 Speaker 1: and a new house for my family, all the things 616 00:31:30,680 --> 00:31:32,959 Speaker 1: I'm buying went up all over thirty percent? Are they 617 00:31:33,000 --> 00:31:35,640 Speaker 1: telling me it went up by seven percent? And you 618 00:31:35,680 --> 00:31:39,680 Speaker 1: get kind of the absurdity of that. Um. One thing 619 00:31:40,080 --> 00:31:42,640 Speaker 1: that back to kind of this the cp I lie. 620 00:31:42,800 --> 00:31:45,320 Speaker 1: This kind of the CPI basket is that they have 621 00:31:45,400 --> 00:31:47,240 Speaker 1: this like rent equivalence kind of thing as I was 622 00:31:47,280 --> 00:31:49,600 Speaker 1: talking about, And one of the things that they get 623 00:31:49,600 --> 00:31:50,959 Speaker 1: you on is not the price of the home, but 624 00:31:51,000 --> 00:31:54,520 Speaker 1: it's the rent, right, and so what it does in 625 00:31:54,560 --> 00:31:58,440 Speaker 1: this basket it has certain waiting. So it says like 626 00:31:58,720 --> 00:32:01,800 Speaker 1: you should spend the average per to spend twenty of 627 00:32:01,840 --> 00:32:05,520 Speaker 1: their income towards housing, which I don't know where they 628 00:32:05,560 --> 00:32:07,000 Speaker 1: came over that because it's probably way higher than that 629 00:32:07,080 --> 00:32:11,640 Speaker 1: up to but basically they um, they wait the owner's 630 00:32:11,680 --> 00:32:14,760 Speaker 1: equivalent of rent, that's what it's called. It as twenty 631 00:32:14,920 --> 00:32:20,200 Speaker 1: five percent of the core CPI waiting. That's a lot 632 00:32:20,200 --> 00:32:22,120 Speaker 1: of things to say there. So first of all, what 633 00:32:22,280 --> 00:32:26,480 Speaker 1: is core CPI. So on the CPI they remove food 634 00:32:27,280 --> 00:32:31,360 Speaker 1: and energy, which is funny because that's the two things 635 00:32:31,400 --> 00:32:34,320 Speaker 1: that we have to live without energy and food? How 636 00:32:34,320 --> 00:32:36,760 Speaker 1: do we live? We don't. But they remove those because 637 00:32:36,760 --> 00:32:38,880 Speaker 1: of course they're going up way too high. Um. So 638 00:32:38,920 --> 00:32:41,280 Speaker 1: that's what the core is. The core is removing those things. 639 00:32:41,280 --> 00:32:43,840 Speaker 1: But anyway, so the owner's equivalent of rent, not the 640 00:32:43,880 --> 00:32:45,200 Speaker 1: cost of the home, but how much they can rent 641 00:32:45,240 --> 00:32:51,080 Speaker 1: nowt for is of the waiting, and that core waiting 642 00:32:51,280 --> 00:32:55,960 Speaker 1: only increased to three point eight percent in January of 643 00:32:56,000 --> 00:33:04,680 Speaker 1: two from two point four percent for all. Now does 644 00:33:04,720 --> 00:33:09,959 Speaker 1: anybody think, does anybody think that the rents of homes 645 00:33:10,040 --> 00:33:14,120 Speaker 1: only went up by two or three percent? Yeah? I 646 00:33:14,160 --> 00:33:16,520 Speaker 1: didn't think so. As a matter of fact, it depends, right, 647 00:33:16,560 --> 00:33:19,280 Speaker 1: It depends on where you live. So some areas went 648 00:33:19,360 --> 00:33:21,360 Speaker 1: up way faster than others. I can tell you where 649 00:33:21,400 --> 00:33:23,880 Speaker 1: I've been living in last year in Puerto Rico. Most 650 00:33:23,920 --> 00:33:27,200 Speaker 1: of the rent prices went up a hundred percent um. 651 00:33:27,280 --> 00:33:30,760 Speaker 1: Some areas saw sixties sevent Some areas I would probably 652 00:33:30,880 --> 00:33:32,400 Speaker 1: I don't know, I don't have the data in front 653 00:33:32,400 --> 00:33:35,040 Speaker 1: of me, but I would imagine the lowest was probably 654 00:33:35,120 --> 00:33:39,280 Speaker 1: ten percent. I think on average it was like seventeen 655 00:33:39,360 --> 00:33:42,840 Speaker 1: percent per zillo. And so if we adjusted it for 656 00:33:42,920 --> 00:33:46,960 Speaker 1: what the actual real increase of rent was and adjusted 657 00:33:47,000 --> 00:33:50,960 Speaker 1: it for the waiting then inflate. Just from that alone, 658 00:33:51,400 --> 00:33:54,800 Speaker 1: inflation CPIA goes over to fifteen percent, more than double 659 00:33:55,080 --> 00:33:57,320 Speaker 1: what they're telling this. Now, why am I telling you 660 00:33:57,360 --> 00:34:02,000 Speaker 1: this when I'm here talking about bitcoin, Well, because inflation 661 00:34:02,320 --> 00:34:05,640 Speaker 1: is the increase of the money supply. The money supplies 662 00:34:05,720 --> 00:34:10,040 Speaker 1: what increases or inflates in volume more money, not prices. 663 00:34:10,200 --> 00:34:13,160 Speaker 1: Prices don't inflate. There's not more volume in the prices, 664 00:34:14,680 --> 00:34:17,960 Speaker 1: and so when the FED prints more money, it starts 665 00:34:17,960 --> 00:34:20,399 Speaker 1: to cause all these problems and prices are going up. 666 00:34:20,800 --> 00:34:26,720 Speaker 1: And this is exactly what bitcoin fixes. So I hear 667 00:34:27,040 --> 00:34:30,360 Speaker 1: all this breaking news about the economy and about inflation 668 00:34:30,440 --> 00:34:33,600 Speaker 1: and the FEDS trying to raise rates. The Fed, the 669 00:34:33,640 --> 00:34:38,120 Speaker 1: Central Bank is trying to artificially adjust the rates. That's 670 00:34:38,120 --> 00:34:41,840 Speaker 1: what they're talking about, artificial adjust rates, artificially adjust the 671 00:34:41,960 --> 00:34:44,200 Speaker 1: money supply, and they're trying to do both of those. 672 00:34:44,239 --> 00:34:47,360 Speaker 1: Those are two different levers, two different levers to adjust 673 00:34:47,560 --> 00:34:51,640 Speaker 1: this inflation number, which is a lie. Um, we're really 674 00:34:51,640 --> 00:34:54,160 Speaker 1: over we're probably even hiring that. It depends on what 675 00:34:54,360 --> 00:34:56,279 Speaker 1: your basket of goods. If we both you and I 676 00:34:56,360 --> 00:34:58,799 Speaker 1: went to the grocery store, and we would probably end 677 00:34:58,880 --> 00:35:02,279 Speaker 1: up with different baskets full of goods, right, I'd buy 678 00:35:02,320 --> 00:35:04,680 Speaker 1: different things than new so then my inflation would be 679 00:35:04,719 --> 00:35:07,200 Speaker 1: different than yours. So it's just insane to try to 680 00:35:07,200 --> 00:35:10,600 Speaker 1: put a single number on this um. But the but 681 00:35:10,680 --> 00:35:13,880 Speaker 1: the key is is that it's the FED adjusting the 682 00:35:13,920 --> 00:35:16,880 Speaker 1: monetary supply and the interest rates that caused the inflation 683 00:35:16,880 --> 00:35:18,839 Speaker 1: to go up and down. And so if we can 684 00:35:18,840 --> 00:35:22,040 Speaker 1: go to bitcoin with a fixed monetary supply that can't 685 00:35:22,120 --> 00:35:26,840 Speaker 1: be increased or decreased, then it can fix this inflation 686 00:35:26,840 --> 00:35:31,640 Speaker 1: problem that we're having because bitcoin has a fixed supply, 687 00:35:32,040 --> 00:35:34,040 Speaker 1: so instead of being able to increase the money supply 688 00:35:34,160 --> 00:35:36,120 Speaker 1: and decrease the money so that by bitcoin is fixed, 689 00:35:36,120 --> 00:35:38,560 Speaker 1: there will never be more than twenty one million bitcoin. 690 00:35:38,719 --> 00:35:43,000 Speaker 1: That's it. At this time. There's been about give or 691 00:35:43,000 --> 00:35:45,680 Speaker 1: take about eighteen and a half, nineteen million have been 692 00:35:45,680 --> 00:35:48,640 Speaker 1: brought into existence, but the cap will never be more 693 00:35:48,640 --> 00:35:52,600 Speaker 1: than twenty one million. Now, this doesn't matter which political 694 00:35:52,640 --> 00:35:56,600 Speaker 1: parties in office or which agenda is. There's written in code, 695 00:35:56,920 --> 00:35:58,440 Speaker 1: and we should get to that point of twenty one 696 00:35:58,480 --> 00:36:02,719 Speaker 1: million by about a year two thousand and one and forty. 697 00:36:02,880 --> 00:36:05,080 Speaker 1: So still quite a ways a way, about a hundred 698 00:36:05,120 --> 00:36:07,560 Speaker 1: twenty years away before we have to worry about that. 699 00:36:08,520 --> 00:36:11,879 Speaker 1: But because it can't be artificially increased, because it has 700 00:36:11,960 --> 00:36:15,400 Speaker 1: that limited supply cap. That means instead of the price 701 00:36:15,440 --> 00:36:18,600 Speaker 1: of goods and services going up, the value would accrue 702 00:36:18,640 --> 00:36:21,680 Speaker 1: to the money, and the money would allow us to 703 00:36:21,880 --> 00:36:24,440 Speaker 1: buy more goods and services in the future. Now, a 704 00:36:24,480 --> 00:36:26,120 Speaker 1: lot of people say, but mark, Mark, Mark, Mark, Mark, 705 00:36:26,719 --> 00:36:32,200 Speaker 1: don't we need an expanding monetary supply. Don't we need inflation? Well, 706 00:36:32,360 --> 00:36:34,279 Speaker 1: the banks have certainly told you that, so you keep 707 00:36:34,320 --> 00:36:35,880 Speaker 1: voting for it. But let me just ask you a 708 00:36:35,920 --> 00:36:39,080 Speaker 1: simple question. I'll answer a question with a question, would 709 00:36:39,160 --> 00:36:43,439 Speaker 1: you rather Would you rather your money buy you more 710 00:36:43,920 --> 00:36:49,200 Speaker 1: goods and services in the future or less? Well, I 711 00:36:49,200 --> 00:36:51,160 Speaker 1: think the easy answer is, of course, you'd rather your 712 00:36:51,160 --> 00:36:53,160 Speaker 1: money buy you more goods and services in the future. 713 00:36:53,200 --> 00:36:56,240 Speaker 1: And so that's why you do not want an inflating currency. 714 00:36:56,360 --> 00:36:59,279 Speaker 1: Inflation means that your goods and services will cost you 715 00:36:59,520 --> 00:37:02,279 Speaker 1: more money in the future. And I know you're going, yeah, 716 00:37:02,320 --> 00:37:04,840 Speaker 1: but don't make more money, not when adjusted for inflation. 717 00:37:04,880 --> 00:37:06,840 Speaker 1: That's not been the case since the nineteen seventy I 718 00:37:06,840 --> 00:37:09,440 Speaker 1: don't think it'll magically be that way. Now, anyway, you're 719 00:37:09,440 --> 00:37:11,320 Speaker 1: listening to the Mark mo Show, we're talking about bitcoin. 720 00:37:11,400 --> 00:37:13,520 Speaker 1: I was reading to you the latest breaking news of 721 00:37:13,560 --> 00:37:15,640 Speaker 1: the weekend so you can be up to date, so 722 00:37:15,719 --> 00:37:18,440 Speaker 1: you know that the network is growing, the development is growing, 723 00:37:18,480 --> 00:37:21,120 Speaker 1: so you can stay in the position, you can be 724 00:37:21,160 --> 00:37:24,360 Speaker 1: in the bitcoin position. Thanks so much for listening.