WEBVTT - The Mark Moss Show Jan 19, 2022 0:00:00.080 --> 0:00:02.760 Hey, everyone, welcome back to another episode of the Mark 0:00:02.880 --> 0:00:06.400 Moa show where we're talking about bitcoin and the decentralized 0:00:06.440 --> 0:00:09.680 revolution that we are living in right now, we're witnessing 0:00:09.800 --> 0:00:12.400 right now. UM, thanks for joining in. I'm here on 0:00:12.440 --> 0:00:15.880 the same channel at this same time each and every week, 0:00:15.920 --> 0:00:17.319 so make sure to go ahead and set a calendar 0:00:17.360 --> 0:00:21.240 reminder to join me. Try to make it the most profitable, 0:00:21.440 --> 0:00:24.720 the most important, the most yeah, the most important part 0:00:24.800 --> 0:00:27.320 of your week. Trying to bring you the latest information 0:00:27.400 --> 0:00:30.120 on what's happening now. UM. I try to bring you 0:00:30.360 --> 0:00:33.040 the education that you need to understand what's going on, 0:00:33.080 --> 0:00:36.400 and try to bring you the latest, greatest breaking news 0:00:36.400 --> 0:00:38.479 each and every weekend so you can stay up to 0:00:38.560 --> 0:00:41.879 date on the progress of of the market. And then 0:00:41.920 --> 0:00:43.279 I bring to you some of my friends to kind 0:00:43.320 --> 0:00:45.920 of give you some perspective, um and share with you 0:00:46.080 --> 0:00:49.519 what is going on now. One of the things I 0:00:49.600 --> 0:00:52.680 don't talk about a whole lot is the price. The 0:00:52.720 --> 0:00:54.640 price of bitcoin. In my opinion, the price of bitcoin 0:00:54.680 --> 0:00:57.279 is one of the least interesting things about it. I mean, 0:00:57.280 --> 0:01:01.160 we're literally witnessing a brand new technology that's changing the world, 0:01:01.560 --> 0:01:04.080 and sharing looking at the price doesn't give you any 0:01:04.120 --> 0:01:06.800 of that information all It is just a basic number. 0:01:07.680 --> 0:01:10.160 But starting with the price, we can see that if 0:01:10.200 --> 0:01:17.040 you've been paying attention, we are down, meaning that bitcoin 0:01:17.160 --> 0:01:19.759 used to be worth more U S dollars than it 0:01:19.800 --> 0:01:22.840 is today. But that's not a bad thing. That's that's 0:01:22.959 --> 0:01:25.240 that's a good thing in my opinion. Um, not that 0:01:25.280 --> 0:01:27.200 it's off of its high. That's not what the good 0:01:27.200 --> 0:01:30.920 thing is. It's where it's at today. So, like I said, 0:01:30.920 --> 0:01:32.360 I don't spend a lot of time talking about the price, 0:01:32.360 --> 0:01:33.479 and I'm not going to spend a lot of time 0:01:33.520 --> 0:01:36.080 talking about the price right now. But what I do 0:01:36.280 --> 0:01:38.600 like to do in regards to the price is I 0:01:38.760 --> 0:01:42.400 like to gain perspective on things, all right, And so 0:01:42.560 --> 0:01:45.080 if we want to gain some perspective on things, we 0:01:45.120 --> 0:01:49.480 can see that a year ago we were at about 0:01:49.760 --> 0:01:55.200 thirty thousand dollars um. Just six months before that we 0:01:55.280 --> 0:01:57.400 were like ten thousands. Went from like ten thousand and 0:01:57.480 --> 0:02:01.279 thirty thousand a year ago. So, um, we're at forty 0:02:01.880 --> 0:02:04.200 about forty three thousand a day. We're at thirty thousand 0:02:04.200 --> 0:02:07.360 a year ago. Um, that's better than most other assets 0:02:07.360 --> 0:02:10.080 did over the last year. But we went from about 0:02:10.120 --> 0:02:12.280 thirty thousand, and then we did shoot up to a 0:02:12.400 --> 0:02:16.600 high of UM. We got up to about forty two 0:02:16.639 --> 0:02:21.840 thousand in April UM and actually we got up to 0:02:22.080 --> 0:02:25.440 uh sixty five thousand, I should say actually in April, sorry, 0:02:25.560 --> 0:02:28.000 sixty five thousand UM, and then the market crashed and 0:02:28.000 --> 0:02:31.720 then the price came down and we sat for about 0:02:31.760 --> 0:02:35.240 seventy days in this range where bitcoin traded in this 0:02:35.320 --> 0:02:37.760 like thirty thousand dollar range. And so that's the key 0:02:37.760 --> 0:02:39.160 piece that I want to bring in. So we shot 0:02:39.200 --> 0:02:43.919 from like ten thousand two sixty five thousand. It was 0:02:43.919 --> 0:02:47.160 amazing run. And then the price the price pulled all 0:02:47.200 --> 0:02:49.080 the way back to about thirty thousand and sat there 0:02:49.120 --> 0:02:51.359 for about two and a half months. And this is 0:02:51.400 --> 0:02:52.880 the key piece I want to draw your attention to. 0:02:53.400 --> 0:02:55.600 So we we kind of consolidated around the thirty thousand 0:02:55.600 --> 0:02:58.079 price and then it shot up again, and this time 0:02:58.480 --> 0:03:01.959 it passed the previous all time I six to sixty nine. 0:03:02.480 --> 0:03:04.799 And now it's pulled back and we're about forty three 0:03:04.840 --> 0:03:08.079 right now, So it's consolidating around the forty dollar price range. 0:03:08.080 --> 0:03:12.400 And so what we're looking at is we pulled back 0:03:12.520 --> 0:03:16.839 and consolidated a floor around the thirty dollar price range. 0:03:16.880 --> 0:03:20.040 We shot higher and this time pulled back and we're 0:03:20.080 --> 0:03:23.880 consolidating around a forty dollar price floor. And so what 0:03:23.919 --> 0:03:26.880 you're looking at is you're looking at higher lows and 0:03:26.919 --> 0:03:29.919 so it's building support at those levels. So don't look 0:03:29.919 --> 0:03:32.320 at where it's off from the high, look at how 0:03:32.400 --> 0:03:34.560 much progress it's making off of the lows. So I 0:03:34.560 --> 0:03:37.000 think that's the key piece there. Um But what I 0:03:37.080 --> 0:03:38.800 tell you each and every week and why I try 0:03:38.840 --> 0:03:40.760 to bring to you the latest breaking news, is that 0:03:41.200 --> 0:03:44.200 the price is one of the least interesting things. And 0:03:44.200 --> 0:03:47.480 the reason why is when you're looking at a new technology, 0:03:47.960 --> 0:03:50.680 the price isn't what's important. What's important when you're looking 0:03:50.680 --> 0:03:54.760 at new technology is two things. One the growth of 0:03:54.800 --> 0:03:57.920 the network, is the network growing or more people using it, 0:03:58.000 --> 0:04:00.880 are more options to use it growing. It's kind Metcalf's law. 0:04:01.280 --> 0:04:03.520 The bigger the network gets, the more valuable it is. 0:04:04.240 --> 0:04:06.440 And the second thing is we're looking at is what 0:04:06.640 --> 0:04:10.200 is the development happening on the network? Is it growing, 0:04:10.480 --> 0:04:14.280 is it um it is evolving, etcetera. And so that's 0:04:14.280 --> 0:04:16.200 what that's what I try to focus on and I 0:04:16.200 --> 0:04:17.680 try to bring to you each and every week, and 0:04:17.960 --> 0:04:22.400 um Man, every week. There is a lot going on. 0:04:22.800 --> 0:04:24.719 So if you ignore the price and you look at 0:04:24.800 --> 0:04:26.520 the growth and the development on the network, you will 0:04:26.560 --> 0:04:29.840 start to see a completely different thing. The price will 0:04:29.880 --> 0:04:31.360 get there, Okay, the price will get there. If you 0:04:31.440 --> 0:04:34.400 zoom out, have a long time perspective, the price is 0:04:34.400 --> 0:04:36.000 going to get there. But some of the big things 0:04:36.000 --> 0:04:38.360 that are happening, of course, one of the biggest news 0:04:38.400 --> 0:04:41.240 stories of two one, one that I was super excited 0:04:41.279 --> 0:04:45.680 for is that a country of El Salvador actually adopted 0:04:45.680 --> 0:04:51.160 bitcoin as legal tender. Now, a lot of people ask themselves, Um, 0:04:51.240 --> 0:04:53.560 you know, is the dollar going to die? Will the 0:04:53.600 --> 0:04:57.120 dollar lose the reserve currency status? What's the next reserve currency? 0:04:57.200 --> 0:05:00.280 Will it be the Chinese Juan, will it be goal, 0:05:00.320 --> 0:05:04.120 Will we go back to gold, Will it be a CBDC, etcetera. Right, 0:05:04.480 --> 0:05:06.880 The problem is, I think, is they're they're looking, they're asking, 0:05:07.160 --> 0:05:10.599 or they're looking for a centralized answer. But the future 0:05:11.080 --> 0:05:13.800 is decentralized. And so what I mean by that is 0:05:13.800 --> 0:05:17.240 that my reserve asset is bitcoin for me, I don't 0:05:17.279 --> 0:05:21.760 care what yours is minus bitcoin For SMP five. Publicly 0:05:21.760 --> 0:05:25.039 traded companies like micro Strategy, their reserve asset is also 0:05:25.080 --> 0:05:27.240 a bitcoin. Now it may not be true for every 0:05:27.240 --> 0:05:30.720 public trading company, and it's not, but it's true for them. 0:05:30.839 --> 0:05:33.800 And then we have countries like Al Savador who have 0:05:33.880 --> 0:05:35.560 also made it there is as well, and so the 0:05:35.560 --> 0:05:40.200 future is decentralized. Now. Um, you have the right, you 0:05:40.200 --> 0:05:42.279 have the freedom to choose what you want to be 0:05:42.320 --> 0:05:45.800 a reserve asset, and so you don't have to use bitcoin, 0:05:45.960 --> 0:05:47.440 you don't have to buy any But what I would 0:05:47.440 --> 0:05:49.560 tell you is that what you choose to store your 0:05:49.560 --> 0:05:52.599 wealth in matters. Now. The reason why I bring up 0:05:52.600 --> 0:05:56.760 Al Savador is because it's game theory. Um. Game theory 0:05:56.880 --> 0:05:58.800 is kind of like the game of musical chairs if 0:05:58.800 --> 0:06:00.800 you remember playing that as a kid. Um, you walk 0:06:00.800 --> 0:06:02.680 around and round around to the music stops and hopefully 0:06:02.720 --> 0:06:04.280 you're one of the people that get to the chair. 0:06:04.600 --> 0:06:07.480 So the last person there loses. And so El Salvador 0:06:07.560 --> 0:06:12.120 was the first nation, and I'm President Bruckle of El Salvador. 0:06:12.200 --> 0:06:13.960 He put out on Twitter. I think he said that 0:06:14.040 --> 0:06:17.559 he predicted, I forget two or three more countries would 0:06:17.560 --> 0:06:22.520 come to bitcoin this year in and here we go, 0:06:23.240 --> 0:06:26.960 here we go. So this week we saw a small nation. 0:06:27.000 --> 0:06:29.479 It's not a big one but doesn't matter a small 0:06:29.640 --> 0:06:33.080 the small nation of Tonga put together a bill through 0:06:33.120 --> 0:06:37.839 their parliament um that basically copied almost identically the El 0:06:37.920 --> 0:06:42.280 Salvador Bill to make bitcoin legal tender. There, so it's 0:06:42.320 --> 0:06:45.560 another domino that's you know, ready to fall down. Um 0:06:45.760 --> 0:06:49.760 Lord Fusita, he's a member, former member of parliament for Tonga. 0:06:50.279 --> 0:06:53.559 Um he released this statement for bitcoin becoming legal tender, 0:06:53.680 --> 0:06:57.600 and Tonga, like I said, copying El Salvador's playbook, and 0:06:57.640 --> 0:07:01.040 they said that they could onboard more than one hundred 0:07:01.040 --> 0:07:04.400 thousand Tongans onto the bitcoin network. So you know it's 0:07:04.400 --> 0:07:08.640 not billions, like hundreds of millions, but still it's it's 0:07:08.680 --> 0:07:11.960 another nation. You put together a kind of a five 0:07:12.000 --> 0:07:15.040 point plan um which is basically, you know, kind of 0:07:15.080 --> 0:07:17.280 all happening this year, goes to parliament, they vote on 0:07:17.320 --> 0:07:18.680 and they have a couple of couple of weeks to 0:07:18.760 --> 0:07:20.520 kind of figure it out and then what the what 0:07:20.640 --> 0:07:23.880 the date will be. Now, some of you listening might go, 0:07:24.000 --> 0:07:27.760 why the heck doesn't matter? Um, you know, who cares 0:07:27.760 --> 0:07:30.360 if a country doesn't or or even more, why why 0:07:30.440 --> 0:07:33.400 would a country want to do that? Remember? Why? Well, 0:07:33.400 --> 0:07:35.080 one thing you have to understand is that for most 0:07:35.080 --> 0:07:36.640 of the countries around the world, they bring in an 0:07:36.680 --> 0:07:40.760 ort amount amount of income based off of remittances. And 0:07:40.800 --> 0:07:43.040 so people leave their country, they go work in another country, 0:07:43.080 --> 0:07:45.040 and they have to send money back home. And so 0:07:45.120 --> 0:07:47.400 that's what happens in ol Salvadore, what happens all over 0:07:47.440 --> 0:07:51.760 the place. Now, Tonga receives more income from remittances than 0:07:51.920 --> 0:07:56.200 any other country in the world. So thirty percent of 0:07:56.240 --> 0:07:59.840 household income in Tonga is made up of remittances, which 0:08:00.080 --> 0:08:03.160 a lot. But the problem is is that those remittances 0:08:03.160 --> 0:08:06.679 typically sent over Western Union things like that, they're very 0:08:06.720 --> 0:08:09.640 expensive to use. As a matter of fact, depending on 0:08:09.640 --> 0:08:11.680 the amount you're sending, you could spend anywhere up to 0:08:11.960 --> 0:08:15.960 thirty percent of the amount of money sent is spent 0:08:16.080 --> 0:08:19.920 in fees. And so if if a thirty percent of 0:08:19.920 --> 0:08:23.520 your income or percent of the income and in the 0:08:23.560 --> 0:08:27.520 country of Tonga is coming from remittances and thirty percent 0:08:27.560 --> 0:08:30.240 of that it's fees, that's a lot of money. That's 0:08:30.240 --> 0:08:33.559 pretty bad. And by sending it via bitcoin, you can 0:08:33.600 --> 0:08:37.640 do it for free for free. So imagine if you 0:08:37.880 --> 0:08:42.280 personally were able to increase your income by thirty percent, 0:08:42.480 --> 0:08:46.120 what that would do to you. And remember, um, about 0:08:46.120 --> 0:08:48.160 thirty percent of household income is made of remittances, and 0:08:48.160 --> 0:08:51.400 they can say thirty percent on fees. That is a massive, 0:08:51.559 --> 0:08:54.880 massive movement. According to the World Bank, Tonga's remittance as 0:08:54.880 --> 0:08:57.360 a percentage of gross domestic product is substantially higher than 0:08:57.320 --> 0:09:03.520 Alsavador at thirty nine percent versus respectively. So um, that's 0:09:03.600 --> 0:09:08.680 another Oh and it's a smartphone penetration exceeds nine in Tonga, 0:09:08.760 --> 0:09:11.319 so they're ready to go. Um, it's another shoot to 0:09:11.440 --> 0:09:15.040 drop game theories and play. Um. Who's gonna be the 0:09:15.040 --> 0:09:17.280 next country? I'm interested to find out. I can't wait 0:09:17.320 --> 0:09:19.000 to see. Like you listening to the Mark Moa Show, 0:09:19.000 --> 0:09:21.640 We're talking about bitcoin. We're talking about the decentralized movement 0:09:21.640 --> 0:09:23.800 that's sweeping the world right now, talking about the second 0:09:23.840 --> 0:09:26.400 country that just is working to adopt it as legal currency. 0:09:26.840 --> 0:09:30.360 I have even more news coming. Do not go. We're back, 0:09:30.800 --> 0:09:33.320 all right, welcome back. You are listening to the Mark 0:09:33.400 --> 0:09:36.679 ma Show and we are talking about bitcoin. What else 0:09:36.720 --> 0:09:39.000 would I be talking about. We're talking about bitcoin. We're 0:09:39.000 --> 0:09:41.760 talking about this decentralized revolution that is sweeping in the world, 0:09:42.400 --> 0:09:45.040 and we're talking about the most important things with bitcoin, 0:09:45.120 --> 0:09:49.000 which are not the price, but are rather we're talking 0:09:49.040 --> 0:09:53.400 about the network growth and the development that's happening on 0:09:53.480 --> 0:09:55.120 the network. Those are the two things that you should 0:09:55.160 --> 0:09:58.080 be looking at when you're looking at new technologies. The 0:09:58.120 --> 0:09:59.679 price will get there, all right, the price will take 0:09:59.679 --> 0:10:02.400 care of its off. But is the network growing and 0:10:02.800 --> 0:10:05.680 um is it developing and so um. Before the break, 0:10:05.720 --> 0:10:07.640 I was talking about how the second country in the 0:10:07.679 --> 0:10:11.079 world now is working on adopting bitcoin is legal tender. UM. 0:10:11.080 --> 0:10:13.280 That's the nation of Tonga. I won't go back through that, 0:10:13.720 --> 0:10:16.200 but that is big news. Not so much because Tonga 0:10:16.280 --> 0:10:20.160 is such a big country, UM, more because it's another country. 0:10:20.240 --> 0:10:22.040 So it's not the size of the country, it's that 0:10:22.080 --> 0:10:26.360 it is another country. And UM game theory is in order, 0:10:26.400 --> 0:10:28.120 and I think, you know, a second country does it, 0:10:28.200 --> 0:10:29.760 and then a third country and fourth the next thing 0:10:29.760 --> 0:10:33.160 you know, it starts happening pretty pretty quickly. So that 0:10:33.240 --> 0:10:35.920 was one big news UM. And there's lots of other 0:10:35.920 --> 0:10:38.120 things that are being done to to continue to push 0:10:38.160 --> 0:10:39.840 this UM. I saw it just here in the United 0:10:39.840 --> 0:10:42.280 States a matter of fact, and you might be interested 0:10:42.280 --> 0:10:44.640 in this actually, so here in the United States, we 0:10:44.679 --> 0:10:50.400 saw in Northwest Arkansas. Northwest Arkansas is offering ten thousand 0:10:50.440 --> 0:10:57.800 dollars in bitcoin and a free bike if you relocate there. Wow. 0:10:58.040 --> 0:11:01.800 So Northwest Arkansas hopes to lure remote tech workers and 0:11:01.920 --> 0:11:04.559 entrepreneurs to the region by offering them ten thousand dollars 0:11:04.600 --> 0:11:08.440 worth of bitcoin and a bicycle. Northwest Arkansas is one 0:11:08.480 --> 0:11:11.280 of the fastest growing regions in the country and we're 0:11:11.320 --> 0:11:15.959 now seeing more explosive growth in our tech sector, um, 0:11:16.000 --> 0:11:18.920 which is pretty cool. Um. So, you know one thing 0:11:18.960 --> 0:11:22.080 that's that's going to reshape the world it already is, 0:11:22.080 --> 0:11:25.480 is that the Internet has changed the way that we work, um. 0:11:25.559 --> 0:11:27.040 And not only do the way that we work, but 0:11:27.080 --> 0:11:30.280 where we work. And so you know, you used to 0:11:30.320 --> 0:11:32.320 have to work if you wanted to make money, had 0:11:32.320 --> 0:11:33.800 to be in the United States, that's where all the 0:11:33.960 --> 0:11:36.520 that's where all the whole economy was, and not just 0:11:36.520 --> 0:11:37.920 in the United Station to be in a city, right, 0:11:37.960 --> 0:11:39.079 so had to be in a big city, that's where 0:11:39.080 --> 0:11:42.320 all the jobs were. But the Internet has started to 0:11:42.400 --> 0:11:44.600 break that apart, and now you can basically live anywhere 0:11:44.600 --> 0:11:46.760 you want as long as you have internet, internet connection 0:11:46.760 --> 0:11:50.440 and of course the internet. I'm sorry the pandemic really 0:11:50.559 --> 0:11:53.120 really kick that into high gear. Um. A lot of 0:11:53.120 --> 0:11:55.640 people who thought they could never work online were now 0:11:55.679 --> 0:11:57.559 forced to and they found out they like it. A 0:11:57.640 --> 0:11:59.280 lot of businesses who thought they could never have a 0:11:59.280 --> 0:12:01.360 remote staff are forced to and they found out they 0:12:01.400 --> 0:12:04.600 like it as well. And so UM it really really 0:12:04.600 --> 0:12:06.520 really kick started this. And what we're seeing is is 0:12:06.600 --> 0:12:09.760 we're going to see this massive trend, this massive reshuffle 0:12:09.840 --> 0:12:12.120 of not just the country, but the world. So all 0:12:12.160 --> 0:12:15.200 through the United States we have people moving to Idaho 0:12:15.360 --> 0:12:18.200 or Montana or Wyoming or Kansas or wherever they want 0:12:18.520 --> 0:12:21.120 because now, for the first time ever, people can actually 0:12:21.240 --> 0:12:24.720 live where they want to live, as opposed to living 0:12:24.800 --> 0:12:28.760 where they have to work. And so this doesn't just 0:12:29.640 --> 0:12:31.880 doesn't just change the way the United States is made up. 0:12:31.880 --> 0:12:34.520 This changes the way the world is made up, because 0:12:34.559 --> 0:12:36.400 now I don't just have to live in United States. 0:12:36.400 --> 0:12:37.720 I can go live in El Salvador, I can go 0:12:37.720 --> 0:12:39.280 live in Tonga, or I can go live in Mexico 0:12:39.400 --> 0:12:43.839 or wherever I want to. UM. I know, I have 0:12:43.880 --> 0:12:49.400 a little brother. He recently moved to um Missouri from California. 0:12:49.760 --> 0:12:52.400 And the reason why is because one he works on 0:12:52.440 --> 0:12:54.480 the Internet. It doesn't matter where he lives. And too, 0:12:54.840 --> 0:12:56.559 he was able to buy I think a four bedroom 0:12:56.600 --> 0:13:00.160 house on like a really big lot with a big 0:13:00.160 --> 0:13:03.959 grassy yard. And his payment is five hundred dollars a month, 0:13:05.320 --> 0:13:06.880 five hundred bucks a month. And he has all the 0:13:06.880 --> 0:13:08.600 same things. He has all the you know, he has 0:13:08.600 --> 0:13:10.400 a gym, and he has the restaurants, and he has 0:13:10.400 --> 0:13:13.360 the stores. He's everything. He's just a Missouri But what 0:13:13.400 --> 0:13:15.400 does he care because he just all he needs is 0:13:15.440 --> 0:13:17.920 access to the internet, and he's fine. And so a 0:13:17.960 --> 0:13:20.120 lot of people should actually probably think about this. And 0:13:20.160 --> 0:13:23.640 so anyway, this goes back to Arkansas. UM, the expanded 0:13:23.679 --> 0:13:26.640 incentive offer Bitcoin and a bike not only embraces the 0:13:26.640 --> 0:13:28.800 growing trend towards the use of cryptocurrency as a payment 0:13:28.800 --> 0:13:32.400 option by employers, but also helps increase our pipeline of 0:13:32.440 --> 0:13:35.960 talent to benefit tech employers, startups, cities, local businesses, and 0:13:36.040 --> 0:13:40.840 the region overall. End quote. So I mean again, we 0:13:40.920 --> 0:13:44.840 can see how cities like Miami are adopting like this 0:13:44.840 --> 0:13:47.080 bitcoin standard and saying that people could pay their fees 0:13:47.120 --> 0:13:50.120 in bitcoin. Um, the city managers are asking to get 0:13:50.160 --> 0:13:52.760 paid in bitcoin. And now we have cities not just 0:13:52.800 --> 0:13:54.560 saying you can pay your fees in bitcoin, but they're 0:13:54.720 --> 0:13:59.360 literally incentivizing people to move into the area by giving 0:13:59.520 --> 0:14:02.920 them big coin. Um. It says here, if you're interested, 0:14:04.200 --> 0:14:06.720 you get a street or a mountain bike to explore 0:14:06.760 --> 0:14:09.199 the outdoors. And it says potential transplants must be able 0:14:09.240 --> 0:14:12.239 to relocate to northwest Arkansas within six months of acceptance, 0:14:12.559 --> 0:14:15.160 sign a lease for local housing or purchase a house, 0:14:15.720 --> 0:14:17.400 be at least twenty four years old, and have a 0:14:17.480 --> 0:14:20.880 full time remote employment. So if you work on the 0:14:20.920 --> 0:14:24.480 internet and you can live anywhere you want, you can 0:14:24.520 --> 0:14:27.440 move to Arkansas and get ten thousand dollars worth a bitcoin. Now, 0:14:27.720 --> 0:14:29.560 if bitcoin does what we think you can do in 0:14:29.600 --> 0:14:32.840 five years, that could be a lot of money and 0:14:32.840 --> 0:14:35.480 you could be living a good life in uh in Arkansas. 0:14:35.600 --> 0:14:40.640 So interesting. Again, the network is growing. I like that one. 0:14:40.680 --> 0:14:44.360 We also saw, you know, a lot of people talking 0:14:44.400 --> 0:14:51.440 about last week. I talked about fund fear, uncertainty, and doubt, 0:14:51.520 --> 0:14:55.120 all these reasons why people don't like bitcoin. Um, it's 0:14:55.120 --> 0:14:58.520 too expensive, the government's gonna make it illegal, it's too slow, 0:14:58.760 --> 0:15:00.960 on and on and on, and there's no shortage of 0:15:01.120 --> 0:15:03.320 those I shot down I don't know ten of them 0:15:03.440 --> 0:15:05.720 last week I think, go back and check out that 0:15:05.720 --> 0:15:08.000 past issue. You can just search Mark Moss I Heart 0:15:08.120 --> 0:15:13.160 or Mark Moss podcast and you'll find that. UM. But 0:15:13.240 --> 0:15:15.160 one of the things that I do is I try 0:15:15.200 --> 0:15:17.280 to always keep in mind that I'm not the smartest 0:15:17.280 --> 0:15:19.680 person in the world, and so what I want to 0:15:19.720 --> 0:15:20.960 do is I want to look at and see what 0:15:21.000 --> 0:15:22.800 other smart people are doing. A matter of fact, I 0:15:22.840 --> 0:15:25.240 don't want to be the smartest person in in a 0:15:25.360 --> 0:15:27.920 deal in a room, and so I've been doing private 0:15:27.960 --> 0:15:31.120 deal investing for a really long time most of my career. 0:15:31.760 --> 0:15:34.600 I think, I UM. When I look at these private deals, 0:15:34.600 --> 0:15:39.160 typically late stage venture or pre I p O. One 0:15:39.200 --> 0:15:41.360 of my things that I look at is who else 0:15:41.480 --> 0:15:44.880 is in on the deal? Are there other smart people 0:15:45.080 --> 0:15:48.200 in on the deal? And if so, that gives me 0:15:48.240 --> 0:15:51.240 a level of confidence that like, hey, I'm not I'm 0:15:51.280 --> 0:15:52.920 not I'm not alone on this. I'm not an idiot 0:15:52.960 --> 0:15:55.040 like these other smart people like it as well. And 0:15:55.080 --> 0:15:56.880 so a lot of people don't like bitcoin, and they 0:15:56.920 --> 0:15:58.880 have their reasons why they doubt it, which is fine, 0:15:59.040 --> 0:16:01.680 and you should doubt it, but look at the smart 0:16:01.760 --> 0:16:04.640 people that are in on the deal. This week we 0:16:04.640 --> 0:16:07.440 found out another one there's lots and lots and lots 0:16:07.440 --> 0:16:09.640 of them. But this week we saw billionaire investor Bill 0:16:09.680 --> 0:16:13.480 Miller now has fifty percent, fifty percent of his personal 0:16:13.880 --> 0:16:16.840 wealth in bitcoin. Now I'm talking about a billionaire investor 0:16:17.920 --> 0:16:20.800 of his personal wealth in bitcoin. Um and that's a lot, 0:16:20.840 --> 0:16:23.440 it says uh And And the reason why Bill Miller 0:16:23.560 --> 0:16:28.760 is famous is because he's been able to beat the 0:16:29.000 --> 0:16:33.760 SNP five index for a record breaking fifteen years in 0:16:33.800 --> 0:16:38.520 a row from two thousand five. That's pretty big deal. 0:16:38.840 --> 0:16:41.760 So typically you uh, let me, let me tell you 0:16:41.760 --> 0:16:44.040 how big of a deal that is. So this year 0:16:44.120 --> 0:16:51.720 two SPID is last year. Now smp FI broke records 0:16:51.760 --> 0:16:53.840 as one of the best years ever and out of 0:16:54.040 --> 0:16:57.320 all the top hedge funds in the in Wall Street, 0:16:57.640 --> 0:17:03.160 only three of them able to outperform. Out of hundreds, 0:17:03.240 --> 0:17:07.080 only three were able to outperform what the SMP five 0:17:07.160 --> 0:17:09.680 under did. He did it for fifteen years in a row. 0:17:10.440 --> 0:17:13.560 It's a pretty big deal. Now, another caveat to that 0:17:13.680 --> 0:17:16.600 is that while only three Wall Street hedge funds were 0:17:16.600 --> 0:17:21.520 able to do that, there were thirty five members of 0:17:21.840 --> 0:17:27.440 Congress that we're able to do that. So three, only three, 0:17:27.560 --> 0:17:30.400 out of all the best hedge funds, of the smartest traders, 0:17:30.440 --> 0:17:32.560 smartest investors in the world, only three of them could 0:17:32.560 --> 0:17:37.160 beat it. But thirty five congress people beat it. It's 0:17:37.160 --> 0:17:40.080 pretty interesting. It's almost like you would think they might 0:17:40.119 --> 0:17:45.480 have some insider information. But anyway, it's a different subject. Um. 0:17:45.520 --> 0:17:47.359 So anyways, Bill Miller, like I said, the only three 0:17:47.400 --> 0:17:49.640 people could beat it, he did it for fifteen years 0:17:49.640 --> 0:17:52.080 in a row. He's not an idiot. He's a pretty 0:17:52.119 --> 0:17:56.159 smart guy. And he says that he's so bullish on 0:17:56.200 --> 0:17:59.240 bitcoin um and his investments tied closely to the crypto 0:17:59.440 --> 0:18:04.000 represent fifty percent of his personal assets. Um, I'm gonna 0:18:04.040 --> 0:18:06.840 tell you about what he bought and what his recommendation 0:18:07.000 --> 0:18:09.200 is for you. So don't go away because you want 0:18:09.200 --> 0:18:11.439 to hear what his recommendation is for you in regards 0:18:11.480 --> 0:18:13.160 to the asset. You're listening to the markma Show. I'll 0:18:13.160 --> 0:18:15.199 be right back, all right, welcome back. You're listening to 0:18:15.240 --> 0:18:17.720 the Mark Moa Show, and we are talking about bitcoin. 0:18:18.040 --> 0:18:20.840 Of course, like you didn't know, we're talking about bitcoine. 0:18:20.840 --> 0:18:23.480 We're talking about the decentralized revolution today. We're talking about 0:18:23.600 --> 0:18:25.960 right now some of the latest breaking news of the weekend, 0:18:26.440 --> 0:18:28.879 and I was talking about one of the one of 0:18:28.880 --> 0:18:33.600 the most successful investors in the world, um and what 0:18:33.640 --> 0:18:36.040 he's doing. His name is Bill Miller. And when I 0:18:36.080 --> 0:18:37.800 say one of the most successful investors in the world, 0:18:38.119 --> 0:18:42.800 he famously beat the SMP five index for fifteen years 0:18:42.960 --> 0:18:46.359 in a row. And I was saying, how this, uh, 0:18:46.480 --> 0:18:50.080 the last year the markets were crazy, and of all 0:18:50.080 --> 0:18:52.840 the head funds all of Wall Street, there was only three. 0:18:53.240 --> 0:18:55.280 Out of hundreds and hundreds hundreds or however many, there 0:18:55.280 --> 0:18:58.640 are only three, we're able to beat the SPI dred. 0:18:58.680 --> 0:19:01.239 He did it for fifteen years in a row. So 0:19:01.280 --> 0:19:03.199 he's pretty smart. So no matter how smart you are 0:19:03.359 --> 0:19:06.640 in investing, you're probably not smarter than him. I'm not um, 0:19:06.800 --> 0:19:08.440 and so when I look at someone like him, I 0:19:09.200 --> 0:19:12.360 tend to listen. I tend to listen. And so um. 0:19:12.440 --> 0:19:15.840 He said that he has fifty percent of his UM 0:19:16.000 --> 0:19:18.440 money into bitcoin now. But that doesn't mean that you should. 0:19:18.520 --> 0:19:20.480 Let's hear what he has to say here. So he 0:19:20.520 --> 0:19:24.840 said that, uh. He said that he had he started 0:19:24.840 --> 0:19:27.480 buying some early early on, but then he didn't buy 0:19:27.480 --> 0:19:31.200 any for a really long time until last year. He said. 0:19:31.240 --> 0:19:33.080 Last year, when he saw the price hit new highs 0:19:33.280 --> 0:19:36.000 and then it started to fall sharply. He thought that 0:19:36.160 --> 0:19:38.359 was a good time to buy the dip. That so 0:19:38.400 --> 0:19:40.080 what happens is, whenever the price makes to a whole 0:19:40.080 --> 0:19:41.800 time my eyes, everybody wants to start buying. Friends I 0:19:41.800 --> 0:19:43.520 haven't talked to in years, all of a sudden start 0:19:43.560 --> 0:19:46.359 messaging me and saying should I buy? Should I buy? 0:19:46.920 --> 0:19:49.280 It was like, it's the top of the market. Uh, 0:19:49.359 --> 0:19:51.800 And they said should should I wait for a dip? 0:19:52.560 --> 0:19:54.120 And then as soon as the dip comes, nobody wants 0:19:54.160 --> 0:19:57.560 to buy. So bitcoin was at sixty nine thousand, now 0:19:57.560 --> 0:20:01.120 it's at whenever thousand, and people are afraid to buy. 0:20:01.320 --> 0:20:03.200 Everyone thinks they want to buy the dip until we're 0:20:03.200 --> 0:20:05.160 in the dip. But that's exactly what he did. He saw, 0:20:05.160 --> 0:20:06.480 I want to hit new highs and then it started 0:20:06.480 --> 0:20:08.120 to fall sharply. He thought that was a good time 0:20:08.160 --> 0:20:09.920 to buy the dip, so he did. He started buying 0:20:09.920 --> 0:20:13.560 again at thirty thirty dollars after it had fallen off 0:20:13.600 --> 0:20:17.199 of the sixty high. He said the reason was that 0:20:17.240 --> 0:20:19.280 there were a lot more people using it, not to 0:20:19.320 --> 0:20:22.199