Speaker 1: Hey, everyone, welcome back to another episode of the Mark
Speaker 1: Moa show where we're talking about bitcoin and the decentralized
Speaker 1: revolution that we are living in right now, we're witnessing
Speaker 1: right now. UM, thanks for joining in. I'm here on
Speaker 1: the same channel at this same time each and every week,
Speaker 1: so make sure to go ahead and set a calendar
Speaker 1: reminder to join me. Try to make it the most profitable,
Speaker 1: the most important, the most yeah, the most important part
Speaker 1: of your week. Trying to bring you the latest information
Speaker 1: on what's happening now. UM. I try to bring you
Speaker 1: the education that you need to understand what's going on,
Speaker 1: and try to bring you the latest, greatest breaking news
Speaker 1: each and every weekend so you can stay up to
Speaker 1: date on the progress of of the market. And then
Speaker 1: I bring to you some of my friends to kind
Speaker 1: of give you some perspective, um and share with you
Speaker 1: what is going on now. One of the things I
Speaker 1: don't talk about a whole lot is the price. The
Speaker 1: price of bitcoin. In my opinion, the price of bitcoin
Speaker 1: is one of the least interesting things about it. I mean,
Speaker 1: we're literally witnessing a brand new technology that's changing the world,
Speaker 1: and sharing looking at the price doesn't give you any
Speaker 1: of that information all It is just a basic number.
Speaker 1: But starting with the price, we can see that if
Speaker 1: you've been paying attention, we are down, meaning that bitcoin
Speaker 1: used to be worth more U S dollars than it
Speaker 1: is today. But that's not a bad thing. That's that's
Speaker 1: that's a good thing in my opinion. Um, not that
Speaker 1: it's off of its high. That's not what the good
Speaker 1: thing is. It's where it's at today. So, like I said,
Speaker 1: I don't spend a lot of time talking about the price,
Speaker 1: and I'm not going to spend a lot of time
Speaker 1: talking about the price right now. But what I do
Speaker 1: like to do in regards to the price is I
Speaker 1: like to gain perspective on things, all right, And so
Speaker 1: if we want to gain some perspective on things, we
Speaker 1: can see that a year ago we were at about
Speaker 1: thirty thousand dollars um. Just six months before that we
Speaker 1: were like ten thousands. Went from like ten thousand and
Speaker 1: thirty thousand a year ago. So, um, we're at forty
Speaker 1: about forty three thousand a day. We're at thirty thousand
Speaker 1: a year ago. Um, that's better than most other assets
Speaker 1: did over the last year. But we went from about
Speaker 1: thirty thousand, and then we did shoot up to a
Speaker 1: high of UM. We got up to about forty two
Speaker 1: thousand in April UM and actually we got up to
Speaker 1: uh sixty five thousand, I should say actually in April, sorry,
Speaker 1: sixty five thousand UM, and then the market crashed and
Speaker 1: then the price came down and we sat for about
Speaker 1: seventy days in this range where bitcoin traded in this
Speaker 1: like thirty thousand dollar range. And so that's the key
Speaker 1: piece that I want to bring in. So we shot
Speaker 1: from like ten thousand two sixty five thousand. It was
Speaker 1: amazing run. And then the price the price pulled all
Speaker 1: the way back to about thirty thousand and sat there
Speaker 1: for about two and a half months. And this is
Speaker 1: the key piece I want to draw your attention to.
Speaker 1: So we we kind of consolidated around the thirty thousand
Speaker 1: price and then it shot up again, and this time
Speaker 1: it passed the previous all time I six to sixty nine.
Speaker 1: And now it's pulled back and we're about forty three
Speaker 1: right now, So it's consolidating around the forty dollar price range.
Speaker 1: And so what we're looking at is we pulled back
Speaker 1: and consolidated a floor around the thirty dollar price range.
Speaker 1: We shot higher and this time pulled back and we're
Speaker 1: consolidating around a forty dollar price floor. And so what
Speaker 1: you're looking at is you're looking at higher lows and
Speaker 1: so it's building support at those levels. So don't look
Speaker 1: at where it's off from the high, look at how
Speaker 1: much progress it's making off of the lows. So I
Speaker 1: think that's the key piece there. Um But what I
Speaker 1: tell you each and every week and why I try
Speaker 1: to bring to you the latest breaking news, is that
Speaker 1: the price is one of the least interesting things. And
Speaker 1: the reason why is when you're looking at a new technology,
Speaker 1: the price isn't what's important. What's important when you're looking
Speaker 1: at new technology is two things. One the growth of
Speaker 1: the network, is the network growing or more people using it,
Speaker 1: are more options to use it growing. It's kind Metcalf's law.
Speaker 1: The bigger the network gets, the more valuable it is.
Speaker 1: And the second thing is we're looking at is what
Speaker 1: is the development happening on the network? Is it growing,
Speaker 1: is it um it is evolving, etcetera. And so that's
Speaker 1: what that's what I try to focus on and I
Speaker 1: try to bring to you each and every week, and
Speaker 1: um Man, every week. There is a lot going on.
Speaker 1: So if you ignore the price and you look at
Speaker 1: the growth and the development on the network, you will
Speaker 1: start to see a completely different thing. The price will
Speaker 1: get there, Okay, the price will get there. If you
Speaker 1: zoom out, have a long time perspective, the price is
Speaker 1: going to get there. But some of the big things
Speaker 1: that are happening, of course, one of the biggest news
Speaker 1: stories of two one, one that I was super excited
Speaker 1: for is that a country of El Salvador actually adopted
Speaker 1: bitcoin as legal tender. Now, a lot of people ask themselves, Um,
Speaker 1: you know, is the dollar going to die? Will the
Speaker 1: dollar lose the reserve currency status? What's the next reserve currency?
Speaker 1: Will it be the Chinese Juan, will it be goal,
Speaker 1: Will we go back to gold, Will it be a CBDC, etcetera. Right,
Speaker 1: The problem is, I think, is they're they're looking, they're asking,
Speaker 1: or they're looking for a centralized answer. But the future
Speaker 1: is decentralized. And so what I mean by that is
Speaker 1: that my reserve asset is bitcoin for me, I don't
Speaker 1: care what yours is minus bitcoin For SMP five. Publicly
Speaker 1: traded companies like micro Strategy, their reserve asset is also
Speaker 1: a bitcoin. Now it may not be true for every
Speaker 1: public trading company, and it's not, but it's true for them.
Speaker 1: And then we have countries like Al Savador who have
Speaker 1: also made it there is as well, and so the
Speaker 1: future is decentralized. Now. Um, you have the right, you
Speaker 1: have the freedom to choose what you want to be
Speaker 1: a reserve asset, and so you don't have to use bitcoin,
Speaker 1: you don't have to buy any But what I would
Speaker 1: tell you is that what you choose to store your
Speaker 1: wealth in matters. Now. The reason why I bring up
Speaker 1: Al Savador is because it's game theory. Um. Game theory
Speaker 1: is kind of like the game of musical chairs if
Speaker 1: you remember playing that as a kid. Um, you walk
Speaker 1: around and round around to the music stops and hopefully
Speaker 1: you're one of the people that get to the chair.
Speaker 1: So the last person there loses. And so El Salvador
Speaker 1: was the first nation, and I'm President Bruckle of El Salvador.
Speaker 1: He put out on Twitter. I think he said that
Speaker 1: he predicted, I forget two or three more countries would
Speaker 1: come to bitcoin this year in and here we go,
Speaker 1: here we go. So this week we saw a small nation.
Speaker 1: It's not a big one but doesn't matter a small
Speaker 1: the small nation of Tonga put together a bill through
Speaker 1: their parliament um that basically copied almost identically the El
Speaker 1: Salvador Bill to make bitcoin legal tender. There, so it's
Speaker 1: another domino that's you know, ready to fall down. Um
Speaker 1: Lord Fusita, he's a member, former member of parliament for Tonga.
Speaker 1: Um he released this statement for bitcoin becoming legal tender,
Speaker 1: and Tonga, like I said, copying El Salvador's playbook, and
Speaker 1: they said that they could onboard more than one hundred
Speaker 1: thousand Tongans onto the bitcoin network. So you know it's
Speaker 1: not billions, like hundreds of millions, but still it's it's
Speaker 1: another nation. You put together a kind of a five
Speaker 1: point plan um which is basically, you know, kind of
Speaker 1: all happening this year, goes to parliament, they vote on
Speaker 1: and they have a couple of couple of weeks to
Speaker 1: kind of figure it out and then what the what
Speaker 1: the date will be. Now, some of you listening might go,
Speaker 1: why the heck doesn't matter? Um, you know, who cares
Speaker 1: if a country doesn't or or even more, why why
Speaker 1: would a country want to do that? Remember? Why? Well,
Speaker 1: one thing you have to understand is that for most
Speaker 1: of the countries around the world, they bring in an
Speaker 1: ort amount amount of income based off of remittances. And
Speaker 1: so people leave their country, they go work in another country,
Speaker 1: and they have to send money back home. And so
Speaker 1: that's what happens in ol Salvadore, what happens all over
Speaker 1: the place. Now, Tonga receives more income from remittances than
Speaker 1: any other country in the world. So thirty percent of
Speaker 1: household income in Tonga is made up of remittances, which
Speaker 1: a lot. But the problem is is that those remittances
Speaker 1: typically sent over Western Union things like that, they're very
Speaker 1: expensive to use. As a matter of fact, depending on
Speaker 1: the amount you're sending, you could spend anywhere up to
Speaker 1: thirty percent of the amount of money sent is spent
Speaker 1: in fees. And so if if a thirty percent of
Speaker 1: your income or percent of the income and in the
Speaker 1: country of Tonga is coming from remittances and thirty percent
Speaker 1: of that it's fees, that's a lot of money. That's
Speaker 1: pretty bad. And by sending it via bitcoin, you can
Speaker 1: do it for free for free. So imagine if you
Speaker 1: personally were able to increase your income by thirty percent,
Speaker 1: what that would do to you. And remember, um, about
Speaker 1: thirty percent of household income is made of remittances, and
Speaker 1: they can say thirty percent on fees. That is a massive,
Speaker 1: massive movement. According to the World Bank, Tonga's remittance as
Speaker 1: a percentage of gross domestic product is substantially higher than
Speaker 1: Alsavador at thirty nine percent versus respectively. So um, that's
Speaker 1: another Oh and it's a smartphone penetration exceeds nine in Tonga,
Speaker 1: so they're ready to go. Um, it's another shoot to
Speaker 1: drop game theories and play. Um. Who's gonna be the
Speaker 1: next country? I'm interested to find out. I can't wait
Speaker 1: to see. Like you listening to the Mark Moa Show,
Speaker 1: We're talking about bitcoin. We're talking about the decentralized movement
Speaker 1: that's sweeping the world right now, talking about the second
Speaker 1: country that just is working to adopt it as legal currency.
Speaker 1: I have even more news coming. Do not go. We're back,
Speaker 1: all right, welcome back. You are listening to the Mark
Speaker 1: ma Show and we are talking about bitcoin. What else
Speaker 1: would I be talking about. We're talking about bitcoin. We're
Speaker 1: talking about this decentralized revolution that is sweeping in the world,
Speaker 1: and we're talking about the most important things with bitcoin,
Speaker 1: which are not the price, but are rather we're talking
Speaker 1: about the network growth and the development that's happening on
Speaker 1: the network. Those are the two things that you should
Speaker 1: be looking at when you're looking at new technologies. The
Speaker 1: price will get there, all right, the price will take
Speaker 1: care of its off. But is the network growing and
Speaker 1: um is it developing and so um. Before the break,
Speaker 1: I was talking about how the second country in the
Speaker 1: world now is working on adopting bitcoin is legal tender. UM.
Speaker 1: That's the nation of Tonga. I won't go back through that,
Speaker 1: but that is big news. Not so much because Tonga
Speaker 1: is such a big country, UM, more because it's another country.
Speaker 1: So it's not the size of the country, it's that
Speaker 1: it is another country. And UM game theory is in order,
Speaker 1: and I think, you know, a second country does it,
Speaker 1: and then a third country and fourth the next thing
Speaker 1: you know, it starts happening pretty pretty quickly. So that
Speaker 1: was one big news UM. And there's lots of other
Speaker 1: things that are being done to to continue to push
Speaker 1: this UM. I saw it just here in the United
Speaker 1: States a matter of fact, and you might be interested
Speaker 1: in this actually, so here in the United States, we
Speaker 1: saw in Northwest Arkansas. Northwest Arkansas is offering ten thousand
Speaker 1: dollars in bitcoin and a free bike if you relocate there. Wow.
Speaker 1: So Northwest Arkansas hopes to lure remote tech workers and
Speaker 1: entrepreneurs to the region by offering them ten thousand dollars
Speaker 1: worth of bitcoin and a bicycle. Northwest Arkansas is one
Speaker 1: of the fastest growing regions in the country and we're
Speaker 1: now seeing more explosive growth in our tech sector, um,
Speaker 1: which is pretty cool. Um. So, you know one thing
Speaker 1: that's that's going to reshape the world it already is,
Speaker 1: is that the Internet has changed the way that we work, um.
Speaker 1: And not only do the way that we work, but
Speaker 1: where we work. And so you know, you used to
Speaker 1: have to work if you wanted to make money, had
Speaker 1: to be in the United States, that's where all the
Speaker 1: that's where all the whole economy was, and not just
Speaker 1: in the United Station to be in a city, right,
Speaker 1: so had to be in a big city, that's where
Speaker 1: all the jobs were. But the Internet has started to
Speaker 1: break that apart, and now you can basically live anywhere
Speaker 1: you want as long as you have internet, internet connection
Speaker 1: and of course the internet. I'm sorry the pandemic really
Speaker 1: really kick that into high gear. Um. A lot of
Speaker 1: people who thought they could never work online were now
Speaker 1: forced to and they found out they like it. A
Speaker 1: lot of businesses who thought they could never have a
Speaker 1: remote staff are forced to and they found out they
Speaker 1: like it as well. And so UM it really really
Speaker 1: really kick started this. And what we're seeing is is
Speaker 1: we're going to see this massive trend, this massive reshuffle
Speaker 1: of not just the country, but the world. So all
Speaker 1: through the United States we have people moving to Idaho
Speaker 1: or Montana or Wyoming or Kansas or wherever they want
Speaker 1: because now, for the first time ever, people can actually
Speaker 1: live where they want to live, as opposed to living
Speaker 1: where they have to work. And so this doesn't just
Speaker 1: doesn't just change the way the United States is made up.
Speaker 1: This changes the way the world is made up, because
Speaker 1: now I don't just have to live in United States.
Speaker 1: I can go live in El Salvador, I can go
Speaker 1: live in Tonga, or I can go live in Mexico
Speaker 1: or wherever I want to. UM. I know, I have
Speaker 1: a little brother. He recently moved to um Missouri from California.
Speaker 1: And the reason why is because one he works on
Speaker 1: the Internet. It doesn't matter where he lives. And too,
Speaker 1: he was able to buy I think a four bedroom
Speaker 1: house on like a really big lot with a big
Speaker 1: grassy yard. And his payment is five hundred dollars a month,
Speaker 1: five hundred bucks a month. And he has all the
Speaker 1: same things. He has all the you know, he has
Speaker 1: a gym, and he has the restaurants, and he has
Speaker 1: the stores. He's everything. He's just a Missouri But what
Speaker 1: does he care because he just all he needs is
Speaker 1: access to the internet, and he's fine. And so a
Speaker 1: lot of people should actually probably think about this. And
Speaker 1: so anyway, this goes back to Arkansas. UM, the expanded
Speaker 1: incentive offer Bitcoin and a bike not only embraces the
Speaker 1: growing trend towards the use of cryptocurrency as a payment
Speaker 1: option by employers, but also helps increase our pipeline of
Speaker 1: talent to benefit tech employers, startups, cities, local businesses, and
Speaker 1: the region overall. End quote. So I mean again, we
Speaker 1: can see how cities like Miami are adopting like this
Speaker 1: bitcoin standard and saying that people could pay their fees
Speaker 1: in bitcoin. Um, the city managers are asking to get
Speaker 1: paid in bitcoin. And now we have cities not just
Speaker 1: saying you can pay your fees in bitcoin, but they're
Speaker 1: literally incentivizing people to move into the area by giving
Speaker 1: them big coin. Um. It says here, if you're interested,
Speaker 1: you get a street or a mountain bike to explore
Speaker 1: the outdoors. And it says potential transplants must be able
Speaker 1: to relocate to northwest Arkansas within six months of acceptance,
Speaker 1: sign a lease for local housing or purchase a house,
Speaker 1: be at least twenty four years old, and have a
Speaker 1: full time remote employment. So if you work on the
Speaker 1: internet and you can live anywhere you want, you can
Speaker 1: move to Arkansas and get ten thousand dollars worth a bitcoin. Now,
Speaker 1: if bitcoin does what we think you can do in
Speaker 1: five years, that could be a lot of money and
Speaker 1: you could be living a good life in uh in Arkansas.
Speaker 1: So interesting. Again, the network is growing. I like that one.
Speaker 1: We also saw, you know, a lot of people talking
Speaker 1: about last week. I talked about fund fear, uncertainty, and doubt,
Speaker 1: all these reasons why people don't like bitcoin. Um, it's
Speaker 1: too expensive, the government's gonna make it illegal, it's too slow,
Speaker 1: on and on and on, and there's no shortage of
Speaker 1: those I shot down I don't know ten of them
Speaker 1: last week I think, go back and check out that
Speaker 1: past issue. You can just search Mark Moss I Heart
Speaker 1: or Mark Moss podcast and you'll find that. UM. But
Speaker 1: one of the things that I do is I try
Speaker 1: to always keep in mind that I'm not the smartest
Speaker 1: person in the world, and so what I want to
Speaker 1: do is I want to look at and see what
Speaker 1: other smart people are doing. A matter of fact, I
Speaker 1: don't want to be the smartest person in in a
Speaker 1: deal in a room, and so I've been doing private
Speaker 1: deal investing for a really long time most of my career.
Speaker 1: I think, I UM. When I look at these private deals,
Speaker 1: typically late stage venture or pre I p O. One
Speaker 1: of my things that I look at is who else
Speaker 1: is in on the deal? Are there other smart people
Speaker 1: in on the deal? And if so, that gives me
Speaker 1: a level of confidence that like, hey, I'm not I'm
Speaker 1: not I'm not alone on this. I'm not an idiot
Speaker 1: like these other smart people like it as well. And
Speaker 1: so a lot of people don't like bitcoin, and they
Speaker 1: have their reasons why they doubt it, which is fine,
Speaker 1: and you should doubt it, but look at the smart
Speaker 1: people that are in on the deal. This week we
Speaker 1: found out another one there's lots and lots and lots
Speaker 1: of them. But this week we saw billionaire investor Bill
Speaker 1: Miller now has fifty percent, fifty percent of his personal
Speaker 1: wealth in bitcoin. Now I'm talking about a billionaire investor
Speaker 1: of his personal wealth in bitcoin. Um and that's a lot,
Speaker 1: it says uh And And the reason why Bill Miller
Speaker 1: is famous is because he's been able to beat the
Speaker 1: SNP five index for a record breaking fifteen years in
Speaker 1: a row from two thousand five. That's pretty big deal.
Speaker 1: So typically you uh, let me, let me tell you
Speaker 1: how big of a deal that is. So this year
Speaker 1: two SPID is last year. Now smp FI broke records
Speaker 1: as one of the best years ever and out of
Speaker 1: all the top hedge funds in the in Wall Street,
Speaker 1: only three of them able to outperform. Out of hundreds,
Speaker 1: only three were able to outperform what the SMP five
Speaker 1: under did. He did it for fifteen years in a row.
Speaker 1: It's a pretty big deal. Now, another caveat to that
Speaker 1: is that while only three Wall Street hedge funds were
Speaker 1: able to do that, there were thirty five members of
Speaker 1: Congress that we're able to do that. So three, only three,
Speaker 1: out of all the best hedge funds, of the smartest traders,
Speaker 1: smartest investors in the world, only three of them could
Speaker 1: beat it. But thirty five congress people beat it. It's
Speaker 1: pretty interesting. It's almost like you would think they might
Speaker 1: have some insider information. But anyway, it's a different subject. Um.
Speaker 1: So anyways, Bill Miller, like I said, the only three
Speaker 1: people could beat it, he did it for fifteen years
Speaker 1: in a row. He's not an idiot. He's a pretty
Speaker 1: smart guy. And he says that he's so bullish on
Speaker 1: bitcoin um and his investments tied closely to the crypto
Speaker 1: represent fifty percent of his personal assets. Um, I'm gonna
Speaker 1: tell you about what he bought and what his recommendation
Speaker 1: is for you. So don't go away because you want
Speaker 1: to hear what his recommendation is for you in regards
Speaker 1: to the asset. You're listening to the markma Show. I'll
Speaker 1: be right back, all right, welcome back. You're listening to
Speaker 1: the Mark Moa Show, and we are talking about bitcoin.
Speaker 1: Of course, like you didn't know, we're talking about bitcoine.
Speaker 1: We're talking about the decentralized revolution today. We're talking about
Speaker 1: right now some of the latest breaking news of the weekend,
Speaker 1: and I was talking about one of the one of
Speaker 1: the most successful investors in the world, um and what
Speaker 1: he's doing. His name is Bill Miller. And when I
Speaker 1: say one of the most successful investors in the world,
Speaker 1: he famously beat the SMP five index for fifteen years
Speaker 1: in a row. And I was saying, how this, uh,
Speaker 1: the last year the markets were crazy, and of all
Speaker 1: the head funds all of Wall Street, there was only three.
Speaker 1: Out of hundreds and hundreds hundreds or however many, there
Speaker 1: are only three, we're able to beat the SPI dred.
Speaker 1: He did it for fifteen years in a row. So
Speaker 1: he's pretty smart. So no matter how smart you are
Speaker 1: in investing, you're probably not smarter than him. I'm not um,
Speaker 1: and so when I look at someone like him, I
Speaker 1: tend to listen. I tend to listen. And so um.
Speaker 1: He said that he has fifty percent of his UM
Speaker 1: money into bitcoin now. But that doesn't mean that you should.
Speaker 1: Let's hear what he has to say here. So he
Speaker 1: said that, uh. He said that he had he started
Speaker 1: buying some early early on, but then he didn't buy
Speaker 1: any for a really long time until last year. He said.
Speaker 1: Last year, when he saw the price hit new highs
Speaker 1: and then it started to fall sharply. He thought that
Speaker 1: was a good time to buy the dip. That so
Speaker 1: what happens is, whenever the price makes to a whole
Speaker 1: time my eyes, everybody wants to start buying. Friends I
Speaker 1: haven't talked to in years, all of a sudden start
Speaker 1: messaging me and saying should I buy? Should I buy?
Speaker 1: It was like, it's the top of the market. Uh,
Speaker 1: And they said should should I wait for a dip?
Speaker 1: And then as soon as the dip comes, nobody wants
Speaker 1: to buy. So bitcoin was at sixty nine thousand, now
Speaker 1: it's at whenever thousand, and people are afraid to buy.
Speaker 1: Everyone thinks they want to buy the dip until we're
Speaker 1: in the dip. But that's exactly what he did. He saw,
Speaker 1: I want to hit new highs and then it started
Speaker 1: to fall sharply. He thought that was a good time
Speaker 1: to buy the dip, so he did. He started buying
Speaker 1: again at thirty thirty dollars after it had fallen off
Speaker 1: of the sixty high. He said the reason was that
Speaker 1: there were a lot more people using it, not to
Speaker 1: mention that venture capitalists and others were investing into it.
Speaker 1: Miller said he thinks bitcoin is best thought of as
Speaker 1: a digital golden as. What he's saying that a store
Speaker 1: of value. Um and uh. He says that he's only
Speaker 1: recently allowed himself to be called a bitcoin bowl rather
Speaker 1: than just a bitcoin observer, because he feels that it's
Speaker 1: now developed into a game changing technology. So what I
Speaker 1: would ask you to do is whatever biases you have
Speaker 1: in your mind, just put those aside. Here's somebody who's
Speaker 1: very successful, and you can see his lineup, thinking, now,
Speaker 1: does this mean that you should put fifty of your
Speaker 1: money into bitcoin like he did? No, it definitely doesn't.
Speaker 1: So let me explain what he says that you should do. So,
Speaker 1: he says, despite his own heavily concentrated position, Miller's advice
Speaker 1: for the average investor is to put only one percent
Speaker 1: of your net worth in bitcoin, reasoning that if you
Speaker 1: put one percent of your portfolio in it for diversification,
Speaker 1: even if it goes to zero, which I think is
Speaker 1: highly improbable. I'm reading his quote. Um, but of course
Speaker 1: it's possible. You can always afford to lose one percent
Speaker 1: end quote. That's what he said. So you might have heard,
Speaker 1: you know, only invest what you're willing to lose kind
Speaker 1: of a thing. So he's like, hey, put one percent.
Speaker 1: If you lose one percent, you're not even gonna notice it, right,
Speaker 1: But if it goes up to where we think it is,
Speaker 1: that could be life changing. Now, Um, that's his advice.
Speaker 1: Of course, I am not giving you advice. This is
Speaker 1: not financial advice. But he has of his of his
Speaker 1: portfolio in there, and so um, listen what he says,
Speaker 1: but also look at what he does and you make
Speaker 1: up your own mind. Think about the risk return profile
Speaker 1: for you. Now, a lot of people, myself included, don't
Speaker 1: really look at bitcoin as an investment. I look at
Speaker 1: it more of a savings So I'm not trying to
Speaker 1: put it in there to make a bunch of money.
Speaker 1: I'm trying to put in there to preserve a bunch
Speaker 1: of money, to save a bunch of money. And so
Speaker 1: instead of putting money in there that you can afford
Speaker 1: to lose, I'm putting money in there that I can't
Speaker 1: afford to lose. It's a different way around. Um. He
Speaker 1: went on to say, quote, I think the average investor
Speaker 1: should ask himself or herself, what do you have in
Speaker 1: your portfolio that has that kind of track record. Number
Speaker 1: one is very, very underpenetrated. Can provide a service of
Speaker 1: insurance against financial catastrophe that no one else can provide
Speaker 1: and can go up ten to fifty times. The answer
Speaker 1: is nothing end quote. That's what he said. I mean
Speaker 1: now I would say the same thing, but I'm reading
Speaker 1: to him n d M because he's one of the
Speaker 1: most successful investors in the world fifteen years beating the
Speaker 1: SP five. That's what he says. What do you have
Speaker 1: in your PORTFOLI that has that kind of track record.
Speaker 1: UM is very underpenetrated. Can provide a service of insurance
Speaker 1: against financial catastrophe. Remember I was saying, UM, you can
Speaker 1: look about look at it like putting money and you
Speaker 1: can afford to lose, or I say put money in
Speaker 1: I can't afford to lose. And that's what he says, right.
Speaker 1: UM is a service or insurance against finance catastrophe, and
Speaker 1: it can go up ten to fifty times, So you
Speaker 1: can be an investment or insurance. It can be both. UM.
Speaker 1: I like those odds. I like those odds a lot.
Speaker 1: What do you think. I love it when you guys
Speaker 1: send me tweets. I'm pretty active on Twitter. The number
Speaker 1: one Mark Moss. That's just the number one, the new
Speaker 1: Numero Uno one. Mark Moss sent me a message tell
Speaker 1: me you heard me on the radio. I'd love to
Speaker 1: hear from you. I love to you answer your questions live.
Speaker 1: UM Another another big piece of news that broke this
Speaker 1: week that I'm actually super excited for, or I think
Speaker 1: is amazing. I've talked about a couple of times before
Speaker 1: on the show, and that is the Twitter um founder
Speaker 1: and CEO Jack Dorsey, who's no longer the CEO of
Speaker 1: Twitter anymore. That's a few weeks ago. UM. Dorsey has
Speaker 1: left um Twitter, and he's also still running Square, which
Speaker 1: is the payment company, and he left He's He's told us,
Speaker 1: he's famously told us that he left Twitter to focus
Speaker 1: on bitcoin. That's his goal. I want to focus on bitcoin.
Speaker 1: And not only that. He UM changed the name of
Speaker 1: Square to block because he wants to focus on bitcoin.
Speaker 1: And uh, he just said that he thinks there's nothing
Speaker 1: more important in his life to work on than bitcoin.
Speaker 1: And again back to UM. Smarter people than me. UM.
Speaker 1: We have Bill Bill Miller, one of the best investors
Speaker 1: in the world, and now we have Jack Dorsey, one
Speaker 1: of the best creators. Wealth creators in the world. And
Speaker 1: when they say these things, I tend to listen. And um,
Speaker 1: he has been putting his money where his mouth is,
Speaker 1: so to speak. And um, he has been building up
Speaker 1: bitcoin services. And one of the things he did this week,
Speaker 1: which I thought was amazing, is that he started a
Speaker 1: fund to defend bitcoin developers. So remember, what are the
Speaker 1: two things were supposed to be looking at. Repeat them
Speaker 1: back to me. They are one growth of the networking
Speaker 1: to development on the network. And the problem is is
Speaker 1: that we have a bunch of developers, bitcoin developers that
Speaker 1: have been getting attacked. There's some jerk, we'll call him
Speaker 1: that for the radio friendly people out there. Um, this
Speaker 1: this jerk, Craig Right, pretends that he is, uh, he's
Speaker 1: the real Satoshi Nakamoto. Of course he's got no evidence
Speaker 1: to back this up, but he's got a bunch of
Speaker 1: money and he's happy to file lawsuits. And so, um,
Speaker 1: this guy, Craig Right has been starting to file a
Speaker 1: bunch of lawsuits against various bitcoin developers. And uh. The
Speaker 1: problem is, these bitcoin developers don't make a bunch of
Speaker 1: money and they can't afford a bunch of lawsuits. And
Speaker 1: so a lot of the developers have been disappearing. They've
Speaker 1: been going into hiding. They don't want to get sued,
Speaker 1: they don't have the money for it. And remember, the
Speaker 1: growth of the network depends on the development happening, and
Speaker 1: if the developers disappeared, what happens to the network. And
Speaker 1: so Jack Dorsey stepped up and created a legal defense
Speaker 1: fund for bitcoin developers as the community faces quote multifront
Speaker 1: litigation and threats that have forced some with legal support
Speaker 1: to capitulate end quote. And so Jack Dorsey, along with
Speaker 1: chain code Labs co founder Alex Marcos and academic Martin
Speaker 1: White Uh founded this Bitcoin Defense Fund Board to fund
Speaker 1: to fund these developers and help them fight back against
Speaker 1: these legal bills. Which is amazing because, as I said,
Speaker 1: we want to continue to have the development and we
Speaker 1: need to keep them on board. I love to see
Speaker 1: someone like Dorsey leave uh you know, traditional mainstream social
Speaker 1: media whatever, and go work on something he finds to
Speaker 1: be much more powerful, much more important. Really a lesson
Speaker 1: for all of us. I say, over and over and over,
Speaker 1: build the world that we want, and so too many
Speaker 1: of us are thinking that we're victims in this world
Speaker 1: and we don't like the way things are going. I
Speaker 1: don't like the medical system, I don't like the education system,
Speaker 1: I don't like the um financial system, whatever it is.
Speaker 1: But instead of focusing on the bad things that you
Speaker 1: don't want, focus on what you do want. Go build
Speaker 1: the world that you want, following an example of Jack Dorsey,
Speaker 1: and it starts with the money, unlocking the money. UM.
Speaker 1: When I come back, I have some more late breaking
Speaker 1: news to keep you in the know. I'll be right
Speaker 1: back with more. Don't go away. Hey everyone, welcome back.
Speaker 1: You were listening to the Markma Show. We're talking about
Speaker 1: bitcoin and we're talking about this decentralized revolution and I'm
Speaker 1: talking about the latest breaking news of the weekend. Now,
Speaker 1: one of the most important things in life is just
Speaker 1: your education. I mean it's it's really at the foundation
Speaker 1: of everything. UM. You die it UM how to get
Speaker 1: ahead and business, how to invest, how to get along
Speaker 1: with other people, how to manage your time. It all
Speaker 1: comes down to education. And of course where you focus
Speaker 1: that education on. And bitcoin is UM. There's a technological revolution.
Speaker 1: It's the largest shift in humanity that will witness in
Speaker 1: our lifetimes. And with that shift, I mean, it's going
Speaker 1: to change the world. It also presents massive opportunity with
Speaker 1: the wealth transfer that's happening, has already begun happening and
Speaker 1: will continue happening. And in order to take advantage of that,
Speaker 1: in order to be a positioned properly, you have to
Speaker 1: have the education for that. And so UM, I'm trying
Speaker 1: to bring you the latest up to date information for that. Now,
Speaker 1: as I say each and every week, it's not the
Speaker 1: price that we should be paying attention to on brand
Speaker 1: new technology. We want to focus on the growth of
Speaker 1: the network and we also want to focus on the
Speaker 1: focus on the development. So that's what we talked about.
Speaker 1: But some of the other things that we also have
Speaker 1: to know is why why do we need that, Why
Speaker 1: is it important? Why do I care about it? And
Speaker 1: things like that. Now, Um, this week we saw record
Speaker 1: breaking inflation. We saw the cp I, the cp LIE
Speaker 1: as I like to call it, but the CPI which
Speaker 1: is a consumer price inflation or index, I should say,
Speaker 1: and basically what it does is the FED um, the
Speaker 1: BLS actually the Bureau Liiver Statistics gets a basket of
Speaker 1: goods and they price them. So let's say you go
Speaker 1: grocery shopping and you put a little bit of steak
Speaker 1: and you put a little bit of milk, and you
Speaker 1: put a little bit of cheese, and you put a
Speaker 1: little bit of whatever, and then they measure how much
Speaker 1: that costs. And then throughout time they track that same basket.
Speaker 1: A couple a couple of problems with that. One is
Speaker 1: that they change the basket all the time. They're constantly
Speaker 1: changing the basket. That's a big problem. And of course
Speaker 1: they change the basket to show the number that they
Speaker 1: want to show. So, for example, they do something called
Speaker 1: the substitution rule. So, UM, steak has become too expensive,
Speaker 1: so now we're gonna take steak out. Let's put hamburger
Speaker 1: meat in instead. So you can still buy quote unquote meat,
Speaker 1: although it used to be prime rib or filet, and
Speaker 1: now you get hamburger meat. Um, or why don't we
Speaker 1: just get um hamburger meat out and let's just put
Speaker 1: ground turkey meat in instead. And so they do this
Speaker 1: substitution thing, and so that's a big scam. Another thing
Speaker 1: that they do is um they don't look at the
Speaker 1: price of the home. For example, they use something called
Speaker 1: like rent equivalence, and so UM homes went, you know up.
Speaker 1: But they say, well, but but it's not the price
Speaker 1: of the home. It's how much the homeowner could rent
Speaker 1: the price of the rent the home out for and
Speaker 1: so use this like rent equivalence. Now, if we go
Speaker 1: back to the way they measured CPI back in the eighties,
Speaker 1: so there was a big change in the nineteen eighties,
Speaker 1: there's a big change in the nine nineties as well.
Speaker 1: But they told us that the inflation is seven percent,
Speaker 1: which is is the highest been in four decades and
Speaker 1: really it's the highest ever. Um. But if we went
Speaker 1: back and we readjusted it for the way they used
Speaker 1: to calculate back, remember how they changed the basket to
Speaker 1: go back to the original basket from about we'd see
Speaker 1: that we're well over fifteen with inflation. But again, uh,
Speaker 1: as I went through UH a few hours ago talking
Speaker 1: about inflation can't really be measured by a number. So
Speaker 1: the price of homes on Lake Travis outside of Austin
Speaker 1: have gone up over a So how does that pent
Speaker 1: or the seven percent inflation fit that? Um, it doesn't
Speaker 1: right stakes go, used cars have gone up, I think, Um,
Speaker 1: the average meeting home in the US has gone up.
Speaker 1: So where do they come up with seven percent? Like
Speaker 1: I was, inflation in seven percent. When all the things
Speaker 1: I'm buying gas from my truck, steak for my grill,
Speaker 1: and a new house for my family, all the things
Speaker 1: I'm buying went up all over thirty percent? Are they
Speaker 1: telling me it went up by seven percent? And you
Speaker 1: get kind of the absurdity of that. Um. One thing
Speaker 1: that back to kind of this the cp I lie.
Speaker 1: This kind of the CPI basket is that they have
Speaker 1: this like rent equivalence kind of thing as I was
Speaker 1: talking about, And one of the things that they get
Speaker 1: you on is not the price of the home, but
Speaker 1: it's the rent, right, and so what it does in
Speaker 1: this basket it has certain waiting. So it says like
Speaker 1: you should spend the average per to spend twenty of
Speaker 1: their income towards housing, which I don't know where they
Speaker 1: came over that because it's probably way higher than that
Speaker 1: up to but basically they um, they wait the owner's
Speaker 1: equivalent of rent, that's what it's called. It as twenty
Speaker 1: five percent of the core CPI waiting. That's a lot
Speaker 1: of things to say there. So first of all, what
Speaker 1: is core CPI. So on the CPI they remove food
Speaker 1: and energy, which is funny because that's the two things
Speaker 1: that we have to live without energy and food? How
Speaker 1: do we live? We don't. But they remove those because
Speaker 1: of course they're going up way too high. Um. So
Speaker 1: that's what the core is. The core is removing those things.
Speaker 1: But anyway, so the owner's equivalent of rent, not the
Speaker 1: cost of the home, but how much they can rent
Speaker 1: nowt for is of the waiting, and that core waiting
Speaker 1: only increased to three point eight percent in January of
Speaker 1: two from two point four percent for all. Now does
Speaker 1: anybody think, does anybody think that the rents of homes
Speaker 1: only went up by two or three percent? Yeah? I
Speaker 1: didn't think so. As a matter of fact, it depends, right,
Speaker 1: It depends on where you live. So some areas went
Speaker 1: up way faster than others. I can tell you where
Speaker 1: I've been living in last year in Puerto Rico. Most
Speaker 1: of the rent prices went up a hundred percent um.
Speaker 1: Some areas saw sixties sevent Some areas I would probably
Speaker 1: I don't know, I don't have the data in front
Speaker 1: of me, but I would imagine the lowest was probably
Speaker 1: ten percent. I think on average it was like seventeen
Speaker 1: percent per zillo. And so if we adjusted it for
Speaker 1: what the actual real increase of rent was and adjusted
Speaker 1: it for the waiting then inflate. Just from that alone,
Speaker 1: inflation CPIA goes over to fifteen percent, more than double
Speaker 1: what they're telling this. Now, why am I telling you
Speaker 1: this when I'm here talking about bitcoin, Well, because inflation
Speaker 1: is the increase of the money supply. The money supplies
Speaker 1: what increases or inflates in volume more money, not prices.
Speaker 1: Prices don't inflate. There's not more volume in the prices,
Speaker 1: and so when the FED prints more money, it starts
Speaker 1: to cause all these problems and prices are going up.
Speaker 1: And this is exactly what bitcoin fixes. So I hear
Speaker 1: all this breaking news about the economy and about inflation
Speaker 1: and the FEDS trying to raise rates. The Fed, the
Speaker 1: Central Bank is trying to artificially adjust the rates. That's
Speaker 1: what they're talking about, artificial adjust rates, artificially adjust the
Speaker 1: money supply, and they're trying to do both of those.
Speaker 1: Those are two different levers, two different levers to adjust
Speaker 1: this inflation number, which is a lie. Um, we're really
Speaker 1: over we're probably even hiring that. It depends on what
Speaker 1: your basket of goods. If we both you and I
Speaker 1: went to the grocery store, and we would probably end
Speaker 1: up with different baskets full of goods, right, I'd buy
Speaker 1: different things than new so then my inflation would be
Speaker 1: different than yours. So it's just insane to try to
Speaker 1: put a single number on this um. But the but
Speaker 1: the key is is that it's the FED adjusting the
Speaker 1: monetary supply and the interest rates that caused the inflation
Speaker 1: to go up and down. And so if we can
Speaker 1: go to bitcoin with a fixed monetary supply that can't
Speaker 1: be increased or decreased, then it can fix this inflation
Speaker 1: problem that we're having because bitcoin has a fixed supply,
Speaker 1: so instead of being able to increase the money supply
Speaker 1: and decrease the money so that by bitcoin is fixed,
Speaker 1: there will never be more than twenty one million bitcoin.
Speaker 1: That's it. At this time. There's been about give or
Speaker 1: take about eighteen and a half, nineteen million have been
Speaker 1: brought into existence, but the cap will never be more
Speaker 1: than twenty one million. Now, this doesn't matter which political
Speaker 1: parties in office or which agenda is. There's written in code,
Speaker 1: and we should get to that point of twenty one
Speaker 1: million by about a year two thousand and one and forty.
Speaker 1: So still quite a ways a way, about a hundred
Speaker 1: twenty years away before we have to worry about that.
Speaker 1: But because it can't be artificially increased, because it has
Speaker 1: that limited supply cap. That means instead of the price
Speaker 1: of goods and services going up, the value would accrue
Speaker 1: to the money, and the money would allow us to
Speaker 1: buy more goods and services in the future. Now, a
Speaker 1: lot of people say, but mark, Mark, Mark, Mark, Mark,
Speaker 1: don't we need an expanding monetary supply. Don't we need inflation? Well,
Speaker 1: the banks have certainly told you that, so you keep
Speaker 1: voting for it. But let me just ask you a
Speaker 1: simple question. I'll answer a question with a question, would
Speaker 1: you rather Would you rather your money buy you more
Speaker 1: goods and services in the future or less? Well, I
Speaker 1: think the easy answer is, of course, you'd rather your
Speaker 1: money buy you more goods and services in the future.
Speaker 1: And so that's why you do not want an inflating currency.
Speaker 1: Inflation means that your goods and services will cost you
Speaker 1: more money in the future. And I know you're going, yeah,
Speaker 1: but don't make more money, not when adjusted for inflation.
Speaker 1: That's not been the case since the nineteen seventy I
Speaker 1: don't think it'll magically be that way. Now, anyway, you're
Speaker 1: listening to the Mark mo Show, we're talking about bitcoin.
Speaker 1: I was reading to you the latest breaking news of
Speaker 1: the weekend so you can be up to date, so
Speaker 1: you know that the network is growing, the development is growing,
Speaker 1: so you can stay in the position, you can be
Speaker 1: in the bitcoin position. Thanks so much for listening.