Speaker 1: Hello, and welcome to another episode of The Mark Mo Show,
Speaker 1: where we talk about bitcoin. We talk about the decentralized
Speaker 1: revolution that the world is going through, and we look
Speaker 1: at it through the lens of things that we can observe,
Speaker 1: like politics, finance, technology, And there's no shortage of things
Speaker 1: to be talking about, that's for sure. Right now. The
Speaker 1: world is rapidly changing. I am joined in the studio
Speaker 1: by a good friend today, Jessica. You can find her
Speaker 1: on Twitter at Jessica Hoddler h O d l R
Speaker 1: if you want to give her a follow and and
Speaker 1: say what's up. But Jessica, thanks for joining me today. Well,
Speaker 1: thanks so much for having me. I'm really excited to
Speaker 1: be here. So we have been having some technical difficulties
Speaker 1: here in the studio. We'll go ahead and just tell you, guys,
Speaker 1: because we're both a little bit frazzled here. I've been
Speaker 1: running around like crazy making making videos. I've weady done
Speaker 1: several hours of content today and I got several more
Speaker 1: hours to go with technical difficulties in the studio. Couldn't
Speaker 1: get the cameras up and running, and Jessica even and
Speaker 1: Jessica and I even had to start recording and it
Speaker 1: wasn't recording that we're starting over. So uh oh man,
Speaker 1: the joy of the joy of doing this. But you know,
Speaker 1: I remember, um, I've been I've been making contents, specifically,
Speaker 1: like for video content. I started my YouTube channel in
Speaker 1: a two thousand and eighteen and so bitcoin had topped
Speaker 1: out in two thousand seventeen, um, and then it crashed
Speaker 1: famously from almost twenty thousand nineteen thousand and change, um,
Speaker 1: and then you know, January eighteen and on and on
Speaker 1: and I went down. I actually started writing a cryptocurrency
Speaker 1: research newsletter in twenty sixteen, so I was already researching
Speaker 1: and writing it, but I didn't start doing like content
Speaker 1: on YouTube until and then. And then through that year
Speaker 1: of eighteen, um, you know, January was coming down in
Speaker 1: February and March, and we kept thinking it's gonna go
Speaker 1: back up, It's gonna go back up. There's still like
Speaker 1: a lot of excitement because seventeen were so amazing, um,
Speaker 1: But by the end of eighteen, it was like, oh
Speaker 1: my gosh, like I don't know if this is ever
Speaker 1: coming back. And then we go into like twenty nineteen,
Speaker 1: and now we have like a year, year and a
Speaker 1: half of this, and it got to a point where
Speaker 1: I was like, on YouTube, I'm like, what the heck
Speaker 1: am I even going to talk about? Like there's like
Speaker 1: nothing going on. It's like completely dead, and I was
Speaker 1: like searching for topics. But yet now here we are,
Speaker 1: and it's like I'm making like multiple videos a day.
Speaker 1: I mean, it's insane. And then yeah, being busy, it's
Speaker 1: definitely not a bad thing, that's for sure. Yeah, but
Speaker 1: I'm just talking about with just the amount of content
Speaker 1: to cover, I mean, to stay on top of what's
Speaker 1: going on, it's like a full time job right now
Speaker 1: because it's all moving so fast. Yeah, it's absolutely insane.
Speaker 1: What's going on. Um. The one thing I've been seeing is, uh,
Speaker 1: the all the markets are melting down, of course right um,
Speaker 1: but the cryptocurrency space, the bitcoin spaces, is not immune
Speaker 1: to that. When we did our fake attempt at recording before,
Speaker 1: you were just talking about before I cut you off,
Speaker 1: how you were in a on a session I think
Speaker 1: with BTC sessions, which shout out to BTC sessions. By
Speaker 1: the way, if you want to learn how to uh
Speaker 1: learn more about the technical side of big coin, like
Speaker 1: how to use you know, your own self storage your
Speaker 1: own cold storage, um, your own bitcoin note. Things like that.
Speaker 1: No better follow than BTC sessions. You can check them
Speaker 1: out on YouTube. But anyway, so you're talking about how
Speaker 1: you were on a sessions with him, and you guys
Speaker 1: were all kind of um enjoying. I guess is that
Speaker 1: the word you were enjoying Watching the price of bitcoin crash. Well,
Speaker 1: so it hadn't gone down to twenty two and twenty
Speaker 1: one yet, so we were saying like, oh, you know,
Speaker 1: we need to we need to see it going lower,
Speaker 1: We need to see more blood in the streets. Maybe,
Speaker 1: you know, people need to get wrecked in order to
Speaker 1: understand like what the Bitcoin Maxi's are saying, Um, because
Speaker 1: we're so toxic, you know. Um, And then it came down.
Speaker 1: But from that standpoint, um, the crypto people need to
Speaker 1: get wrecked a little bit to get to see kind
Speaker 1: of the Bitcoin maxi viewpoint. But Bitcoin Maxi's are down
Speaker 1: as well, so aren't Bitcoin Maxi's getting wrecked just like
Speaker 1: the crypto bros? I mean, for me, this is an
Speaker 1: incredible buying opportunity. Um, I think this is once in
Speaker 1: a lifetime since especially since we reached sixty nine, all
Speaker 1: almost seventy and now we're down to one. Uh and
Speaker 1: this is the time where you can stacks at build
Speaker 1: generational wealth at a discount. When did you start buying
Speaker 1: and really getting involved and paying attention. So it was
Speaker 1: and it was just me. I talked to my friends
Speaker 1: about it, and they'd be like, what you're insane? Um.
Speaker 1: And for me, I mean it was just okay, like
Speaker 1: I'm just gonna buy some and hold it and I'm
Speaker 1: never gonna sell. And this is before I was even
Speaker 1: on Twitter, like seeing the never sell diamond hands and
Speaker 1: all that stuff. Um. And then I saw that it
Speaker 1: hit like two seen and then I didn't pay attention
Speaker 1: to the price. And then when I got onto Twitter,
Speaker 1: and that's when I like really started paying attention, you know,
Speaker 1: joining the community and stuff. Yeah, so then you Um,
Speaker 1: I was looking at this report here of the seven
Speaker 1: biggest draw downs in bitcoins history, which in June June, um,
Speaker 1: that was a big one, but that was like when
Speaker 1: it had just got started, mout cox Feld, so they
Speaker 1: kind of take that one out. It's like an outlier.
Speaker 1: In twelve we saw drop fifty we saw dropped eighty
Speaker 1: three percent, So that was no joke. So that was
Speaker 1: right around the time it was on my radar and
Speaker 1: I was gonna buy in and it was going up, up, up, up,
Speaker 1: up up, and then it crashed UM, and then I
Speaker 1: decided not to buy. I didn't get until UM and
Speaker 1: so then UM we have December UM through to December,
Speaker 1: which we were talking about before UM it dropped eight FO.
Speaker 1: So you you got in early. You saw I go
Speaker 1: from I don't know, sixteen I don't know if it
Speaker 1: was five bucks probably something like that. I'm just guessing
Speaker 1: up to twenty thousand, and he felt really rich. And
Speaker 1: then you watched it go down all the way down
Speaker 1: to wherever it ended up dropping down, I don't know,
Speaker 1: around four or five thousand or six thousand dollars something
Speaker 1: like that. How was that give give give us, give
Speaker 1: us some, give us, some war stories or some what What
Speaker 1: What was going through your mind? Honestly, it was just
Speaker 1: literally just me and my mom talking about it, and
Speaker 1: we were just we would just say to each other, Okay,
Speaker 1: like it doesn't matter, We're just going to hold on
Speaker 1: to it, like we know this is life changing UM
Speaker 1: digital gold money UM. And really at that point what
Speaker 1: kept us in the game was like, we know this
Speaker 1: is freedom money. We know this is going to change
Speaker 1: the world, this is going to change people's lives. And
Speaker 1: so we would literally just say to each other, we're
Speaker 1: never selling. So you really thought that back then you
Speaker 1: were that you had that much conviction. Wow, that's for sure.
Speaker 1: I would. I'll admit. When I started buying, I was
Speaker 1: looking for a way to get money out of the
Speaker 1: United States banking system. So I was working on going
Speaker 1: into Panama and setting up a trust and Panama, putting
Speaker 1: money in the Panama and panamoney and bank um if
Speaker 1: that's the right word, Panamanian bank. And I was doing
Speaker 1: that so I could get residency and work on a
Speaker 1: way to citizenship, which I know you help people with
Speaker 1: um and so I just but then I looked at
Speaker 1: bitcoin again. I was like, that's kind of same thing.
Speaker 1: I can get money out of the bank um. And
Speaker 1: then I started, I started buying it. And then as
Speaker 1: I started learning more I did. I was like, this
Speaker 1: is this is a tool, this is how we can win,
Speaker 1: this is how we can defeat the Federal Reserve, you know,
Speaker 1: get rid of this money printer cartel that they have.
Speaker 1: And so I gotta tell everybody I know about it,
Speaker 1: and I did um, and so I haven't haven't shut
Speaker 1: up since here I am still talking about it. But then,
Speaker 1: you know, I admit, righteen, I got into the crypto
Speaker 1: space and I fell into the you know, it's not bitcoin,
Speaker 1: it's blockchain, I'll admit um. And so in ten I
Speaker 1: think by the end of it was already starting to
Speaker 1: kind of be clear that bitcoin was definitely breaking out
Speaker 1: um from the rest of the crypto space. UM. I
Speaker 1: can't remember if I was all in like you where
Speaker 1: I was like this for sure is going to be
Speaker 1: life changing or not. UM, But I guess I was
Speaker 1: because I never sold. I've never really I traded a
Speaker 1: bunch of way, you know, through the through through my
Speaker 1: crypto phase, and I wish, I wish I could wish
Speaker 1: I could go back and get a redo on that,
Speaker 1: but I can't. UM. But you know, other than that,
Speaker 1: I never sold anything. Yeah. Honestly, I think what kept
Speaker 1: me from getting into the whole coinery stuff was because
Speaker 1: when it popped, I was in college, so I didn't
Speaker 1: even have time to like look at anything else, so
Speaker 1: that you were distracted by the way you're listening to
Speaker 1: the Mark Moa show, we are talking about bitcoin, We're
Speaker 1: talking about cryptocurrencies. We're talking about the decentralized revolution. I'm
Speaker 1: in the studio with a good friend, Jessica. You can
Speaker 1: find her on Twitter at Jessica Hoddler. That's h O
Speaker 1: d l R. We got a lot more to talk about,
Speaker 1: talking about some of these big drawdowns in bitcoin's history
Speaker 1: and some other big breaking news when we get back.
Speaker 1: We'll be back in just a minute, so don't go away,
Speaker 1: all right, Welcome back. You are listening to the Mark
Speaker 1: Moa Show, and we are talking about bitcoin. We're talking
Speaker 1: about the decentralized revolution that we are witnessing right now,
Speaker 1: and uh more specifically talking about the meltdown that's happening
Speaker 1: in the UM overall markets and of course in the
Speaker 1: cryptocurrency on bitcoin space. I'm in the studio with a
Speaker 1: good friend Jessica. You can find her on Twitter at
Speaker 1: Jessica Hoddler. And before the break, we were talking about
Speaker 1: UM our experience of going through UM. The last time
Speaker 1: that we saw bitcoin breakdown in a big way. We're
Speaker 1: talking about back in two thousand seventeen. We're actually really
Speaker 1: into into two thousand eighteen. UM. It crashed at a
Speaker 1: high end December seventeen, and I was kind of given
Speaker 1: my perspective. And before the break, Jessica was saying, how, um,
Speaker 1: she didn't really transition from bitcoin into the rest of
Speaker 1: the crypto space because she was so busy with college
Speaker 1: she never got a chance to. I think that was
Speaker 1: about right. Yep, that's exactly what happened. Well, being busy
Speaker 1: was good for you, I suppose, because like I said,
Speaker 1: I probably I traded away so much bitcoin chasing all
Speaker 1: these other ald coins, and I did good with them. Um.
Speaker 1: But you know, overall, if I could have a redo,
Speaker 1: I would just go back and just keep the bitcoin
Speaker 1: that I originally bought it. And if I would have
Speaker 1: done that, i'd been in such a better place. Of course,
Speaker 1: we don't get redus in life, unfortunately, but what we
Speaker 1: can do well we can do, though, is make sure
Speaker 1: we don't make the same mistakes twice. And so that's
Speaker 1: what I do. UM. So we had that one in
Speaker 1: December seventy was draw down. March that was the you know,
Speaker 1: when the whole world got locked down. It fell fifty percent,
Speaker 1: and then May one it fell fifty three percent. Um,
Speaker 1: and now here we are down about sevent So UM.
Speaker 1: You've been through one both of us have been through
Speaker 1: one draw down right now, we're sitting at about um,
Speaker 1: I don't know at the time of this is today
Speaker 1: right now, which is about a seventy percent draw down
Speaker 1: from its high. Yeah, that's exactly what it is. Yeah. Um.
Speaker 1: And so you know, if if it were to go
Speaker 1: down to it's it's it's worst a previous drop, which
Speaker 1: is that would bring it down to about ten thousand,
Speaker 1: are you prepared for that? Oh my gosh, that would
Speaker 1: be insane. And I mean that it's just an incredible opportunity. Yeah.
Speaker 1: I remember. Um, I remember March pretty vividly. Obviously it
Speaker 1: wasn't that long ago, twenty years, two years ago, and
Speaker 1: I remember like seeing the entire I've been waiting for
Speaker 1: the financial markets to crash for a long time and
Speaker 1: so um, it's like this confirmation bias, I suppose. And
Speaker 1: when it all started falling apart in March, I was like,
Speaker 1: this is it. It's over, like the whole not just Bitcoin,
Speaker 1: but the entire financial markets, Like it's it's going down there,
Speaker 1: locking down the world, the markets can't take this, etcetera.
Speaker 1: And I remember watching bitcoin plunge and uh drop and
Speaker 1: it was like four thousand I think it went all
Speaker 1: the way like thirty and I was literally watching Trading
Speaker 1: View at the time watching it go down. I can
Speaker 1: remember exactly like where I was sitting and everything, and uh,
Speaker 1: it was pretty scary. I'm gonna be honest. I didn't
Speaker 1: back up the truck and start buying. I I think
Speaker 1: I started buying at maybe as it was coming back up,
Speaker 1: but like maybe forty five or five thousand is something
Speaker 1: like that. I don't know. I remember being pretty dang scared. Yeah, no,
Speaker 1: for sure, And I mean it's definitely not for the
Speaker 1: faint of heart. Um, But I mean once you once
Speaker 1: you read and understand and see and what it can
Speaker 1: provide the world with, I mean it's it's kind of
Speaker 1: hard to ignore. Yeah, but I mean, uh, it's it's
Speaker 1: impossible to ignore the benefits that it's bringing to the
Speaker 1: world if you spend the time to look at it. Right. So,
Speaker 1: there's still so many people that say, um, there's no
Speaker 1: use case, which is just absolutely insane. I suppose if
Speaker 1: all you've if you've never left the United States in
Speaker 1: your life and you're ordering eight dollar Latte's, you might
Speaker 1: have that viewpoint. But if you've ever been outside the
Speaker 1: United states. To think that there's no use case at all,
Speaker 1: it's just insane, wouldn't you think, Oh no, absolutely, Um,
Speaker 1: you would have to be living under a rock to
Speaker 1: think it has no use case. Yeah, what what would
Speaker 1: you say? Some of the biggest use cases are that
Speaker 1: you see that that really proved how valuable it is. UM.
Speaker 1: I mean, especially with the Lightning network, how quickly and
Speaker 1: practically free. Um. You can send money. Um, anyone can
Speaker 1: have access to it. You don't need to show an idea,
Speaker 1: open a bank account, etcetera in order to use it. Uh,
Speaker 1: it's unconfiscatable and permissionless money. Yeah. I think that that
Speaker 1: that first part that you said, Um, you don't have
Speaker 1: to show I D So it's permission lists. So bitcoin
Speaker 1: is border lists, and it's trust list, but it's permission
Speaker 1: list and so you know right now, UM, per the
Speaker 1: un I think there's about two billion adults in the
Speaker 1: world today that don't have access to banking. Two billion adults.
Speaker 1: It's about half, maybe a little bit more than half
Speaker 1: of the adults in the world. And the reason why
Speaker 1: they don't have access to banking for the most part,
Speaker 1: most of them is they don't have permission to join
Speaker 1: if you're born. If you're a fifteen year old kid
Speaker 1: born in Iran, for example, you're not allowed to join
Speaker 1: the financial system. Um. In some places like Al Salvador,
Speaker 1: they can join it, but it's so expensive that they
Speaker 1: can't afford to join it. And so Bitcoin is permission lists.
Speaker 1: Anybody can join it and it's free. And that's a
Speaker 1: that's a big deal, right, Oh, it's I think it's
Speaker 1: a beautiful thing. I mean, for half of the adult
Speaker 1: population to have an opportunity to even accumulate and save
Speaker 1: some sort of wealth is just unheard of, especially now
Speaker 1: with the money printer going on. Yeah, I look at
Speaker 1: that like the smartphone, and I think about that being
Speaker 1: like one of the greatest equalizers. Everybody's talking about equality,
Speaker 1: right and um, which is a whole different conversation, but
Speaker 1: I think that the smartphone is one of the greatest
Speaker 1: equalizers because no matter where you're at in the world,
Speaker 1: you could learn anything, you could meet anyone, you could
Speaker 1: do anything. And for the first time, a kid with
Speaker 1: a smartphone could, you know, start a Instagram account and
Speaker 1: make a hundred thousand dollars. And so it's an equalizer.
Speaker 1: But not if that kid can't join the financial system right,
Speaker 1: and bitcoin fixes that and and and bitcoin fixes that.
Speaker 1: So um, it was cool. I have you been down
Speaker 1: to El Salvador? I haven't, Um, I've been wanting to,
Speaker 1: but just haven't been able to yet. I was thinking
Speaker 1: about making another trip down there this summer, so I'll
Speaker 1: keep you posted on that. But oh yeah, please. Do
Speaker 1: you know when I was down there, I was shocked.
Speaker 1: And I've been down there multiple times on surf trips,
Speaker 1: but I was down there specifically working with bitcoin beach. Um.
Speaker 1: It amazed me that, you know, a lot of these
Speaker 1: people they don't have bank accounts because it's so cost prohibitive,
Speaker 1: and so they need, you know, fifty bucks a month
Speaker 1: or whatever to start a bank account, and they don't
Speaker 1: make that much to justify that. And also even a
Speaker 1: lot of the like some of these poor areas, you know,
Speaker 1: they have you know, roadside stand selling papoosas or coconuts
Speaker 1: or whatever, and they don't do that much business, and
Speaker 1: so they don't do enough business to justify a point
Speaker 1: of sale or a credit card account. And so you
Speaker 1: have all these little stores that can't get merchant systems
Speaker 1: or credit cards, and then you have all these people
Speaker 1: who can't get in the banking system. So basically none
Speaker 1: of them can get into the global economy. They're stuck
Speaker 1: in a local economy. And back to that, you know,
Speaker 1: kid with a Instagram account analogy. UM, without having access
Speaker 1: to the global markets, you're stuck in that local area.
Speaker 1: And of course bitcoin fixes that. UM. You're listening to
Speaker 1: the Markmas Show. We're talking about bitcoin. We're talking about
Speaker 1: the decentralized revolution that the world is going through as
Speaker 1: bitcoin changes politics, finance, and technology in the world as
Speaker 1: we know it. I'm in the studio with a good
Speaker 1: friend Jessica. You can find her on Twitter at Jessica Hoddler.
Speaker 1: Let's h O d l R. We're talking about, unfortunately,
Speaker 1: talking about bitcoin melting down, the depths of bitcoin and
Speaker 1: our experience with it. We're talking about the use case
Speaker 1: and we'll talk about where it's going. UM. And we
Speaker 1: got some really big stories to cover when we come
Speaker 1: back in a minute. UM, specifically talking about um, the
Speaker 1: flip side of a world without it and bank runs
Speaker 1: that are happening in China right now. We're back with
Speaker 1: that more in a minute, So don't go away, all right,
Speaker 1: Welcome back. You are listening to the markma Show, and
Speaker 1: we are talking about bitcoin, we're talking about the decentralized revolution.
Speaker 1: We're talking about UH. We're talking about through the lens
Speaker 1: of politics, finance, and technology to help things bring things
Speaker 1: into context, we can understand them in the world today,
Speaker 1: and of course there's no shortage of formation. I'm in
Speaker 1: the studio with Jessica. You can find her on Twitter
Speaker 1: at Jessica Hodler that's h O d l R. And
Speaker 1: we were talking about the pain that we're seeing in
Speaker 1: the bitcoin, in the cryptocurrency space and UM, kind of
Speaker 1: comparing it to some previous crashes. So the last time
Speaker 1: we've seen bitcoin, UH and the cryptocurrency market crash this
Speaker 1: hard was back in two thousand seventeen, where bitcoin saw
Speaker 1: about an eighty three percent draw down. Jessica was saying,
Speaker 1: how that, you know, she just held because she saw
Speaker 1: some of these benefits. And we were talking about some
Speaker 1: of these benefits such as UM, such as UH, you know,
Speaker 1: permission lists and how that's a big deal in the world.
Speaker 1: You know. One of the other things, Jessica that I
Speaker 1: see as a big benefit is that for the first
Speaker 1: time in history or for the history of mankind, we
Speaker 1: can hold our wealth in a way that can't be confiscated.
Speaker 1: And so um what we've seen. You know, when banks
Speaker 1: collapsed throughout history, people lost all their money in the banks.
Speaker 1: We're seeing that happen in the cryptocurrency space right now.
Speaker 1: People have their money in platforms like selsie us and
Speaker 1: they can't get their money back out of that. People
Speaker 1: have their money in Tara Luna stable coin and they
Speaker 1: can't get their money back out of that. Um. But
Speaker 1: if you hold your money in bitcoin, or I should
Speaker 1: say not your money in bitcoin. But if you're holding
Speaker 1: bitcoin and you're holding it yourself, there is really no
Speaker 1: chance in losing that if you do it correctly, right, Yeah,
Speaker 1: And it's all dependent upon self responsibility. If you hold
Speaker 1: your keys, you hold your coins, and you know, if
Speaker 1: you practice uh safe keeping your bitcoin in safe spaces,
Speaker 1: then you know that's upon you. If you can hold
Speaker 1: it on in exchange, then you know you're not holding
Speaker 1: your bitcoin. And it's an I, it's an iou right
Speaker 1: and and and and what I say is like that's
Speaker 1: the whole benefit of it. For the first time in history,
Speaker 1: we can store a wealth in a way that can't
Speaker 1: be confiscated. But anytime you give your asset to somebody else,
Speaker 1: there's counterparty risk and so you run the risk of
Speaker 1: losing that. And so that's what's happening in the in
Speaker 1: the cryptocurrency space. Like I said, with Celsius and with
Speaker 1: Terra Luna, etcetera. The problem is that while those things
Speaker 1: are much more risky and maybe while you weren't taking
Speaker 1: the risk with those, unfortunate when those blow up, they
Speaker 1: bring that risk to your front door. Yeah, unfortunately. So right,
Speaker 1: And I guess you know, as long as you can
Speaker 1: have that long term perspective, then I you know, you
Speaker 1: can be okay. But it's tough. It's tough for a
Speaker 1: lot of people who have been in the short term. Yeah,
Speaker 1: it's all about having that long term horizon and zooming out.
Speaker 1: You know, if you have a four month um timeline, uh,
Speaker 1: you're you might see a drop. But if you're on
Speaker 1: a ten year timeline, then you know, you're you just
Speaker 1: see it go up. Yeah. Yeah, I think you know
Speaker 1: one thing, it's it's easy to get that long term perspective,
Speaker 1: you know, when you've been in it for a long term. Um,
Speaker 1: it's probably much harder if you've been in it for
Speaker 1: a short period of time. But you can just look
Speaker 1: back through history, and what we've seen is that there's
Speaker 1: never been I believe it's a three year period where
Speaker 1: you would have been under water. So if you would
Speaker 1: have bought the last high in December, we're talking about
Speaker 1: it about nineteen thousand, it took about just under three years.
Speaker 1: I think it was like two point nine years to
Speaker 1: get back to twenty again. And so, uh, with real estate,
Speaker 1: you would typically say something like, you know, don't buy
Speaker 1: real estate that you don't plan on holding for at
Speaker 1: least five years. And so with bitcoin, it's kind of like, well,
Speaker 1: don't buy bitcoin that you're that you plan need in
Speaker 1: less than three years. Um. Do you think that kind
Speaker 1: of a mindset helps out? Yeah? I think it does.
Speaker 1: And you know, during times like this, if you know,
Speaker 1: you just put your head down your building, um, you're
Speaker 1: you know, you're stacking SATs um. I think it's easier
Speaker 1: to see it through that lens, especially if you're reading
Speaker 1: you know, like g g Um Marty bentz uh and
Speaker 1: and talking about real estate. If you had bought in
Speaker 1: you have people who are doubling their money in two years. Yeah,
Speaker 1: So it's just about having that. I think having that
Speaker 1: perspective that really makes a big difference. And and having
Speaker 1: that and having that long term time frame, you know,
Speaker 1: I I think about it back to kind of like
Speaker 1: real estate. If I told you that, you know, in
Speaker 1: five years from now, we're going to build this new
Speaker 1: stadium outside of town, and if you went and bought lots, um,
Speaker 1: you know, land around that area when that stadiums built's
Speaker 1: gonna be worth a lot of money. But let's say
Speaker 1: that you did, and then a year from now, um,
Speaker 1: the lots next to where you bought are down there
Speaker 1: cheaper than what you paid for. What would you panic
Speaker 1: and would you sell your lot? Well, you don't know.
Speaker 1: The answer would be, well, is that stadium is still
Speaker 1: going to be built? Are they working on permits? Have
Speaker 1: they got plans that they got their funds? Are they
Speaker 1: doing construction? And as long as that's still on track,
Speaker 1: then you would want to continue to hold and maybe
Speaker 1: you would even buy that that other lot that came
Speaker 1: up for cheaper. If you found out there was like
Speaker 1: nuclear waste on the land and they could never build there,
Speaker 1: then maybe you would sell right away. Um. And so
Speaker 1: when you're looking at bitcoin through that lens, is there
Speaker 1: anything that's broken? With the network itself. Have they found
Speaker 1: nuclear waste with bitcoin or is it still on track
Speaker 1: with where we where where we think it's going. I mean,
Speaker 1: what would you say about that? Well, it's interesting because
Speaker 1: um Sailor actually recently said if I gave you a
Speaker 1: hundred billion dollars to build another bitcoin, you couldn't. So
Speaker 1: I feel like that's a pretty powerful statement. And I
Speaker 1: mean you can see that people are constantly building UM,
Speaker 1: people are using it, and I feel like also the
Speaker 1: adoption trend is really important. UM. You know, the more
Speaker 1: people that come into bitcoin UM and the more people
Speaker 1: that want it obviously, UM, you know, the price is
Speaker 1: gonna affect that. So yeah, now that's a good point. UM.
Speaker 1: I first kind of learned about this by Andreas on
Speaker 1: Topolus and he basically kind of made the same point
Speaker 1: as well, where like bitcoin is kind of like this
Speaker 1: anomaly where it was created over a decade ago when
Speaker 1: nobody knew anything about it, nobody cared, and that allowed
Speaker 1: it to grow, kind of allowed it to grow in
Speaker 1: the wild, UM and get stronger. And it got strong
Speaker 1: because of the decentralization, So more and more and more
Speaker 1: people started running nodes, and more and more people started
Speaker 1: mining it, and all that mining power has made it
Speaker 1: so strong and made it resistant to attack, and nobody
Speaker 1: knew about it. Nobody cared about it, so nobody tried
Speaker 1: to attack it. The problem is today is everybody knows
Speaker 1: about it, and so smaller chains that have tried to
Speaker 1: copy tried to copy what Bitcoin have done. They don't
Speaker 1: have the network, they don't have the miners, they don't
Speaker 1: have the nodes, and so they're easy to attack, and
Speaker 1: people do they People can rent hash power, attack them
Speaker 1: double spend um. But Bitcoin is too big for that now.
Speaker 1: So kind of to the point that you made, or
Speaker 1: that Michael Saylor was making, there's no way to recreate
Speaker 1: that today because everybody would know what you're doing, and
Speaker 1: it would be attacked and killed before it would be
Speaker 1: able to grow and be strong enough. Yep, that's exactly right.
Speaker 1: And um, I don't feel like people uh can rup
Speaker 1: their their minds around the true uh positiveness about decentralization
Speaker 1: because I mean, they deal with banks every day and
Speaker 1: and they're just used to the central banking system, and
Speaker 1: I feel like some people can't really see the true
Speaker 1: power of decentralization. Yeah. Well, and and they probably they don't.
Speaker 1: They don't know what that means. They probably haven't even
Speaker 1: taken the time to think through that. It seems like
Speaker 1: a big problem that I see in the world today
Speaker 1: where people are kind of parroting headlines that they see
Speaker 1: and they've never actually taken the time to think through that.
Speaker 1: Do you see that being a big problem? Yeah, definitely.
Speaker 1: I mean, and this is separate of bitcoin. Also, you
Speaker 1: just have people parting other people's ideas just because they
Speaker 1: want to, you know, virtue signal um. And people don't
Speaker 1: do their own due diligence, They don't do their own
Speaker 1: research because they're told not to. And um, yeah, yeah,
Speaker 1: I've I've I've maybe I used to be more guilty
Speaker 1: of that, um being that now, Um, you know, I
Speaker 1: get so many comments across all these platforms, thousands of
Speaker 1: comments a week. I have to be more careful of
Speaker 1: what I say, which has been good, so it makes
Speaker 1: me think about it. But a lot of times, you know,
Speaker 1: even today, I'm a little bit guilty of it in
Speaker 1: a sense where like I'll be flipping through Twitter, right
Speaker 1: and somebody will make this like really compelling statement and
Speaker 1: I might go, Wow, that's true, that's right, And like Dang,
Speaker 1: that's good. I hadn't thought about that. But then what
Speaker 1: I do is I go through all the comments, and
Speaker 1: the comments are great. Twitter is great for this because
Speaker 1: then I can find all these comments of people arguing
Speaker 1: against it. It's like every post is almost a debate,
Speaker 1: you know, and then you see all these are the viewpoints,
Speaker 1: and you're like, damn, I didn't think about that. Well,
Speaker 1: actually so I thought. I thought I agreed with that
Speaker 1: headline and I had that opinion. But now I see
Speaker 1: the flip side. I see a different than of Twitter
Speaker 1: is great for that. Um, you're listening to the Mark
Speaker 1: Moa show, and speaking of Twitter, I have Jessica on
Speaker 1: with me right now. You can find her on Twitter
Speaker 1: at Jessica Hotler. That's h O D l R. And
Speaker 1: of course if you're not following me on Twitter, then
Speaker 1: you should be. And that's at number one, Mark Moss.
Speaker 1: That's just the number one, Um, just the numeral number one,
Speaker 1: Mark Moss. We're talking about bitcoin. We're talking about the
Speaker 1: decentralized revolution, and I want to talk more about what
Speaker 1: happens when you lose money to the bank. We're back
Speaker 1: with that and more in a minute, So don't go away.
Speaker 1: All right, welcome back. You are listening to the Mark
Speaker 1: Moa show talking about bitcoin, talking about the decentralized revolution
Speaker 1: and how the world is changing right before our very eyes.
Speaker 1: Of course bitcoin is uh, it's in the down trend
Speaker 1: right now. It's painful, but you gotta maintain focus, eyes
Speaker 1: on the prize. As they say. I'm in the studio
Speaker 1: with my good friend Jessica. You can find her on
Speaker 1: Twitter at Jessica Hoddler h O D L R jes go. Um.
Speaker 1: You know we were talking about um. When you give
Speaker 1: your money to somebody else, he creates counterparty risk. And
Speaker 1: so people that put their money into Celsius, people that
Speaker 1: put their money into Tara Luna token, or people that
Speaker 1: leave their money in the bank like in Cyprus when
Speaker 1: it when it collapsed. And um. One thing I saw
Speaker 1: this week that was pretty crazy. Actually just today was
Speaker 1: in China. Now China, for a lot of people don't know,
Speaker 1: China's got serious, serious problems on their hands. They have
Speaker 1: a massive debt crisis. They make the United States debt
Speaker 1: crisis look tame, but they have. But but it's a
Speaker 1: bigger problem than just the debt crisis because of all
Speaker 1: the dither crisis as they have like what like energy,
Speaker 1: They don't have any energy. They have to import eighty
Speaker 1: five cent of their energy. The US has energy. Most
Speaker 1: of their food import inputs to make the food have
Speaker 1: to be imported, so they can't even make the foods.
Speaker 1: They have energy crisis, they have a food crisis. They
Speaker 1: have a water crisis. They don't have any natural water
Speaker 1: like the United States we have big lakes. They don't
Speaker 1: have that, and whatever water they have has been massively contaminated.
Speaker 1: And then the biggest and worst problem is they have
Speaker 1: a massive demographic cliff. Forty years of one child policy
Speaker 1: has made it where now they have all boys under
Speaker 1: forty years old and a very small population. About half
Speaker 1: of the Chinese population will be gone in twenty five years.
Speaker 1: It's a massive, massive problem. Of course, as the money
Speaker 1: supply grows and people people grow, you have massive growth.
Speaker 1: When money supply goes down and the population goes down,
Speaker 1: to the problem. And so China has all these problems
Speaker 1: and now there's a there was a bank run this
Speaker 1: week and uh the ink run. What is what happens
Speaker 1: is when just like what happened with Terry Luna Um,
Speaker 1: when too many people go to get their money out
Speaker 1: because they're afraid they're not going to get it back.
Speaker 1: They want to be the first one there to get it.
Speaker 1: If too many people go to pull their money out, um,
Speaker 1: then there's not to go around and it creates a run.
Speaker 1: And that's exactly what happened in China, where people were
Speaker 1: going to pull their money out of the bank, and
Speaker 1: it could have created a big problem for China, but
Speaker 1: China solved it in a way that we haven't seen before,
Speaker 1: in a way that wasn't so good. And it says
Speaker 1: that China's bank run victims planned to protest. They were
Speaker 1: going to have a protest, but then their COVID health
Speaker 1: passports turned code red. So this we talked about this
Speaker 1: credit score system, and basically what happened is in order
Speaker 1: to prevent the people from getting together and creating this
Speaker 1: protest um, everyone turned red, which then means they were
Speaker 1: deemed to be high risk and then nope, and then
Speaker 1: they were banned from any public venues and they they
Speaker 1: broke that down. Now we people like uh put their
Speaker 1: life stavings in the bank and they couldn't get it
Speaker 1: out and now they can't even protest. I mean, is
Speaker 1: that a dystopian world or what Jessica. Yeah, I mean
Speaker 1: that's insane and I mean, hint, this is why you
Speaker 1: have unconfiscatable and permissionless money UM. And it's insane because
Speaker 1: this is happened. This has been happening in China for
Speaker 1: a while, and they've been holding people hostage in their
Speaker 1: homes because of COVID and then people were starving to
Speaker 1: death that they ended up throwing themselves out of their
Speaker 1: apartments because they were so hungry. And now they have
Speaker 1: these health apps that show either green or red, with
Speaker 1: green meaning that you're able to go places, and your
Speaker 1: freedom of movement is strictly dictated by this color code
Speaker 1: system that was implemented by the government. And uh, just
Speaker 1: f y I this is what the World Economic Forum wants.
Speaker 1: And conveniently enough, they had just their meeting in Davos,
Speaker 1: UM and they talk about this all the time. But
Speaker 1: as you were saying, with the red code, this is
Speaker 1: usually assigned to people that are infected by COVID. So
Speaker 1: coincidentally enough, those people that were trying to protest the
Speaker 1: banks UM were flagged red and they weren't able to go. Yeah,
Speaker 1: it's crazy. It says here that this this guy they're
Speaker 1: talking about how to put his life savings about six
Speaker 1: million one or or about almost nine dollars into a
Speaker 1: bank hasn't been able to draw a penny. Over the
Speaker 1: past two months, thousands of depositors like him have been
Speaker 1: fighting to recover their savings from at least four banks.
Speaker 1: In late May, hundreds of them traveled um to zin
Speaker 1: Zong from across China and stage the protest outside the office.
Speaker 1: Another protest was planned for Monday, but as the depositors arrived,
Speaker 1: they were stunned to find their health codes, which were
Speaker 1: green upon departure, had now been turned red. Uh. And
Speaker 1: then and then they were taken into quarantine by guards
Speaker 1: and locked up. Interesting. Yeah, and it's it's pretty crazy
Speaker 1: because you're immediately banned from all public values and transport um.
Speaker 1: And like they were, they were subject to weeks of
Speaker 1: government quarantine. And this quote unquote health app that they're
Speaker 1: implementing is more like a good citizen app um. And
Speaker 1: it's going to do a point where, like we joke
Speaker 1: on Twitter all the time, oh, if you tweet something,
Speaker 1: uh that's like opposing your government. Uh, They're going to say, oh,
Speaker 1: you tweeted this today you're not allowed to go to
Speaker 1: the grocery store or go outside, but you actually have
Speaker 1: these people who are actually experiencing it. Yeah, I mean
Speaker 1: that's exactly what happened, right. It's like, um, and and
Speaker 1: I don't I don't know exactly how that happened. Like,
Speaker 1: most likely they probably didn't tweet about that they were
Speaker 1: going to the protests. It probably picked up on their location.
Speaker 1: It was probably tracking them, right, maybe well, China has
Speaker 1: a social system, so it might have been a combination
Speaker 1: of seeing what they talked about on social media articles
Speaker 1: they had read, maybe they booked a plane ticket, a
Speaker 1: hotel room, and then they had their location and then
Speaker 1: they're like, Okay, these people are going to do this
Speaker 1: shut them down. Yep. No, It's like big brother. And
Speaker 1: it's really sad because these these government officials will probably
Speaker 1: never see the day where they're held accountable because there's
Speaker 1: power is omnipotent. Yeah, and uh, you know, this is
Speaker 1: what many of us are are warning of that this
Speaker 1: whole goal to put our whole lives into a passport,
Speaker 1: install this credit core system is is what's coming. And
Speaker 1: we warned that this is exactly how it can be used.
Speaker 1: And um, you know, I think you know a lot
Speaker 1: of people are like, oh, no, it would never be
Speaker 1: used that way. It's only gonna be used for good, which, uh,
Speaker 1: maybe they have good intentions. The problem is is giving
Speaker 1: anybody that much power over your life eventually somebody will
Speaker 1: probably use it for bad intentions. And also what is
Speaker 1: good and what is bad? Right like my u for them,
Speaker 1: their version of bad, I should say, for the Chinese government,
Speaker 1: their version of bad is having anybody say anything about
Speaker 1: having their money stolen. That's bad. But to me that
Speaker 1: would be good. Like if someone stole my money, I
Speaker 1: should be able to speak out about it. And so
Speaker 1: you can see that good and bad are different things,
Speaker 1: two different people, ye know for sure. And it's like
Speaker 1: we say, if you give too much power to the
Speaker 1: government in a crisis, they'll create more crisis. Is in
Speaker 1: order to take more power. Yeah, that's exactly what's happening.
Speaker 1: On a on a different note about taking power, we
Speaker 1: did see that in Canada it looks like they're finally
Speaker 1: about to lift their restrictions. So that's pretty good for
Speaker 1: anybody who doesn't know. Um, if you haven't taken the
Speaker 1: vaccine in Canada, you're not even allowed to leave the country. Um,
Speaker 1: so that's pretty big news. Now. One thing that says
Speaker 1: that if you have a dual citizenship, then you're most
Speaker 1: likely okay to leave with a non Canadian passport. I
Speaker 1: know that's something that you work on a little bit. Yes,
Speaker 1: And we've actually been working a lot of with a
Speaker 1: lot of Canadians lately, just because you know, they don't
Speaker 1: want to be forced to make certain medical decisions. Um,
Speaker 1: so we've they've been very interested in second passports, and um,
Speaker 1: we've been helping them. Yeah, I mean, having a second passport,
Speaker 1: it's it's kind of like insurance where, um, you know,
Speaker 1: insurance is a waste of money until you actually need it,
Speaker 1: but then when you need it, you're glad you have it, right,
Speaker 1: And I would imagine a second passport is somewhat similar.
Speaker 1: It's kind of a waste of money until you actually
Speaker 1: need it and then like you might need it for
Speaker 1: your life, which these Canadians have found out about. Yeah,
Speaker 1: I know for sure, a second passport is a hedge
Speaker 1: against your government. Yeah, hedge against your government. Right, And
Speaker 1: even in the United States, I mean, just look at
Speaker 1: what happened with COVID. The United States passport went from
Speaker 1: being one of the best passports in the world to
Speaker 1: being one of the best, I'm sorry, the worst passports
Speaker 1: in the world, where no country would would have you
Speaker 1: with the US passport. If you want to know more
Speaker 1: about that, checkout Jessica's company at plan B passport dot com.
Speaker 1: Plan b passport dot com. You're listening to the Mark
Speaker 1: Ball Show. We've been talking about bitcoin. We've been talking
Speaker 1: about the decentralized revolution. I've been in the studio with
Speaker 1: my friend Jessica. You can find her on Twitter at
Speaker 1: Jessica Hoddler h O d l R and of course
Speaker 1: on on Twitter at one Mark Moss. If you're not
Speaker 1: following me, then what are you even doing? So give
Speaker 1: us a follow up, give us shout out and say
Speaker 1: what's up. Um. We're trying to cover the play by
Speaker 1: play here talking about bitcoin, cryptocurrencies and the decentralized revolution,
Speaker 1: the biggest thing we'll ever see in our life. And
Speaker 1: it's a little bumpy right now, but together we'll get
Speaker 1: through it. But that's what I got for you today.
Speaker 1: Thanks so much for listening. We'll see you next time.