1 00:00:00,080 --> 00:00:02,559 Speaker 1: Hey, everyone, you are listening to the Mark Moss Show, 2 00:00:02,640 --> 00:00:05,720 Speaker 1: and we are talking about bitcoin, of course, and the 3 00:00:05,760 --> 00:00:10,360 Speaker 1: cryptocurrencies and this decentralized revolution that's happening. I'm here with 4 00:00:10,360 --> 00:00:12,160 Speaker 1: you each and every week trying to bring you the 5 00:00:12,280 --> 00:00:17,720 Speaker 1: asymmetric information to benefit to participate in this asymmetric opportunity 6 00:00:17,760 --> 00:00:20,279 Speaker 1: that we're facing. Today, I am joined by one of 7 00:00:20,280 --> 00:00:23,840 Speaker 1: my good friends, Justine Harper. She um, she's with Unchained 8 00:00:23,880 --> 00:00:28,160 Speaker 1: Capital and you can find her on Twitter at miss Hotel. 9 00:00:28,400 --> 00:00:31,360 Speaker 1: That's h O d L Miss Hotel of course. If 10 00:00:31,360 --> 00:00:33,199 Speaker 1: you don't know what that means, that's hold on for 11 00:00:33,320 --> 00:00:34,879 Speaker 1: dear life. That's the term that we use in the 12 00:00:34,880 --> 00:00:38,320 Speaker 1: bitcoin space for hanging on really strong and not not 13 00:00:38,360 --> 00:00:41,320 Speaker 1: having weak paper hands. Um. Anyway, Justine, thanks so much 14 00:00:41,320 --> 00:00:43,840 Speaker 1: for joining me today. Thank you so much for having 15 00:00:43,880 --> 00:00:46,280 Speaker 1: me here. And yes, we all hold on for dear life. 16 00:00:46,320 --> 00:00:48,400 Speaker 1: But yeah, I have. I've always joked that I hoddle 17 00:00:48,440 --> 00:00:50,800 Speaker 1: all the things, so it seems to fitting. Yeah, thanks 18 00:00:50,840 --> 00:00:54,160 Speaker 1: so much for having me. Yeah, man, I love trading 19 00:00:54,200 --> 00:00:56,040 Speaker 1: stuff back and forth with you online, so that would 20 00:00:56,040 --> 00:00:57,240 Speaker 1: be so fun just to have you in and just 21 00:00:57,320 --> 00:00:59,520 Speaker 1: kind of talk about what's going on, you know, I'm 22 00:00:59,560 --> 00:01:01,280 Speaker 1: just trying to keep everybody up to date on what's 23 00:01:01,280 --> 00:01:05,920 Speaker 1: going on in the bitcoin and decentralized revolution space. And 24 00:01:05,959 --> 00:01:08,240 Speaker 1: you know, I'm bringing everybody the latest news each and 25 00:01:08,280 --> 00:01:09,760 Speaker 1: every week so they can stay on top of it. 26 00:01:09,800 --> 00:01:12,440 Speaker 1: Of course, not everybody lives in the space like we do. 27 00:01:12,520 --> 00:01:14,520 Speaker 1: And you know, one of the articles I was reading 28 00:01:14,560 --> 00:01:17,560 Speaker 1: this week that kind of caught my eye, UM was 29 00:01:18,000 --> 00:01:19,760 Speaker 1: it was on the Wall Street Journal. I mean, this 30 00:01:19,800 --> 00:01:23,039 Speaker 1: is really starting to get mainstream. Uh. It's kind of 31 00:01:23,080 --> 00:01:25,560 Speaker 1: the first they ignore you, then they laugh at you, 32 00:01:25,560 --> 00:01:26,800 Speaker 1: then they fight you, and then they have to kind 33 00:01:26,800 --> 00:01:28,200 Speaker 1: of join you. And of course that's kind of where 34 00:01:28,200 --> 00:01:30,440 Speaker 1: the Wall Street fits in. And there's this article that 35 00:01:30,480 --> 00:01:33,080 Speaker 1: says that you know, more players that were getting to 36 00:01:33,160 --> 00:01:35,800 Speaker 1: arrive in the world of digital assets um. And it 37 00:01:35,840 --> 00:01:37,760 Speaker 1: says at the beginning of a person's journey into the 38 00:01:37,800 --> 00:01:41,600 Speaker 1: world of cryptocurrencies such as bitcoin, UM, a wallet often 39 00:01:41,640 --> 00:01:45,160 Speaker 1: refers to what a traditional bank or brokerage account already does, 40 00:01:45,880 --> 00:01:51,080 Speaker 1: and it holds a customer's assets UM And I think, like, um, 41 00:01:51,120 --> 00:01:53,120 Speaker 1: you know, I think there's a big misconception that a 42 00:01:53,120 --> 00:01:55,480 Speaker 1: lot of people have when they come in is that, 43 00:01:55,800 --> 00:01:58,680 Speaker 1: you know, we're so used to kind of growing up 44 00:01:58,680 --> 00:02:01,240 Speaker 1: and how a bank works, and they bank holds our money, right, 45 00:02:01,240 --> 00:02:02,680 Speaker 1: I don't want to put it in my mattress. I 46 00:02:02,960 --> 00:02:04,920 Speaker 1: put it in a bank, UM. And they think about 47 00:02:04,920 --> 00:02:08,320 Speaker 1: the same way about bank When I buy bitcoin, whether 48 00:02:08,360 --> 00:02:11,239 Speaker 1: I buy that on robin Hood or or or um 49 00:02:11,280 --> 00:02:13,480 Speaker 1: you know, cash app or whatever, that's like kind of 50 00:02:13,560 --> 00:02:15,840 Speaker 1: leaving it on a bank there. And and I know 51 00:02:15,919 --> 00:02:18,240 Speaker 1: that's a big misconception. What do you think about that? 52 00:02:19,200 --> 00:02:21,239 Speaker 1: I think it's a big misconception as well. UM. I 53 00:02:21,280 --> 00:02:23,920 Speaker 1: think one of the most beautiful things about bitcoin is 54 00:02:24,000 --> 00:02:26,519 Speaker 1: our ability to truly own an asset for the first 55 00:02:26,560 --> 00:02:28,919 Speaker 1: time in history. And part of that UM is being 56 00:02:28,960 --> 00:02:31,120 Speaker 1: able to not be cut off from this asset. So 57 00:02:31,160 --> 00:02:34,440 Speaker 1: in a traditional banking system, that bank holds that asset 58 00:02:34,600 --> 00:02:36,680 Speaker 1: and UM, you're trusting for it to be there and 59 00:02:36,680 --> 00:02:39,360 Speaker 1: for you to have access to it when you need it. 60 00:02:39,639 --> 00:02:42,600 Speaker 1: And bitcoin essentially solves that issue by you holding the 61 00:02:42,680 --> 00:02:46,120 Speaker 1: keys to this address or wallet UM and therefore cannot 62 00:02:46,120 --> 00:02:48,040 Speaker 1: be cut off your from your wealth. So I do 63 00:02:48,120 --> 00:02:51,360 Speaker 1: think it's a normal UM in an individual's bitcoin journey 64 00:02:51,400 --> 00:02:53,480 Speaker 1: to start out with their assets, you know, on an 65 00:02:53,520 --> 00:02:56,280 Speaker 1: exchange they purchase in bitcoin somewhere sitting there, and then 66 00:02:56,320 --> 00:02:58,040 Speaker 1: as I learn more and more, I do feel that 67 00:02:58,120 --> 00:03:00,839 Speaker 1: self custody is a very, very and step to take 68 00:03:01,120 --> 00:03:03,600 Speaker 1: and something I'm super passionate about. Um So, I do 69 00:03:04,080 --> 00:03:06,720 Speaker 1: believe that everybody is capable to hold the keys to 70 00:03:06,760 --> 00:03:09,880 Speaker 1: their own bitcoin well. And I love to see things 71 00:03:09,919 --> 00:03:11,920 Speaker 1: like this in the All Street Journal. Um I love 72 00:03:11,960 --> 00:03:13,920 Speaker 1: that we're going mainstream in this way, but I do 73 00:03:14,000 --> 00:03:18,079 Speaker 1: think it's really vital important to educate individuals on those 74 00:03:18,080 --> 00:03:23,400 Speaker 1: differences and the importance of digging into health crustody for sure. Yeah, 75 00:03:23,639 --> 00:03:25,680 Speaker 1: I mean you're the perfect perfect person to talk to 76 00:03:25,760 --> 00:03:27,960 Speaker 1: about this, as as you work for Unshamed Capital. I 77 00:03:27,960 --> 00:03:30,400 Speaker 1: know you guys offer solutions for that, but you know, 78 00:03:30,480 --> 00:03:32,919 Speaker 1: I like to try to think about things in terms of, like, 79 00:03:33,760 --> 00:03:36,840 Speaker 1: what's the problem that we're trying to solve. Right today, 80 00:03:36,880 --> 00:03:38,640 Speaker 1: we have all this money slash around the system. It's 81 00:03:38,640 --> 00:03:40,920 Speaker 1: all trying to solve problems that we don't need. And 82 00:03:40,920 --> 00:03:44,320 Speaker 1: it's like, you know, bitcoin came to solve a massive problem, 83 00:03:44,360 --> 00:03:48,760 Speaker 1: which was being able to custody my own assets, and uh, 84 00:03:49,080 --> 00:03:51,280 Speaker 1: it allowed me to store my wealth in a way 85 00:03:51,320 --> 00:03:55,240 Speaker 1: that can't be stolen or manipulated. And so if that's 86 00:03:55,280 --> 00:03:57,520 Speaker 1: the and actually I've I've talked a lot about this. 87 00:03:57,680 --> 00:04:00,800 Speaker 1: I think that's the oldest problem in humanity, um since 88 00:04:00,840 --> 00:04:02,840 Speaker 1: the beginning of time. Someone's gonna come steal my chickens 89 00:04:02,920 --> 00:04:04,760 Speaker 1: or you know, still my goats. And so we make 90 00:04:04,800 --> 00:04:07,040 Speaker 1: a we make a collective, and then a village, and 91 00:04:07,040 --> 00:04:09,480 Speaker 1: then the kingdom and then the country, and we're removing 92 00:04:09,480 --> 00:04:12,600 Speaker 1: the oldest problem that man has has had. So like, 93 00:04:12,880 --> 00:04:15,640 Speaker 1: why wouldn't we want to take advantage of that? Didn't 94 00:04:15,680 --> 00:04:18,960 Speaker 1: that the whole they were trying to solve? Absolutely? And 95 00:04:19,000 --> 00:04:22,240 Speaker 1: I think sometimes people think of extremes, right like, oh, well, 96 00:04:22,279 --> 00:04:24,239 Speaker 1: you know the six change, What's what are the chances 97 00:04:24,279 --> 00:04:26,960 Speaker 1: actually are getting hacked? What are the chances of me 98 00:04:27,240 --> 00:04:31,360 Speaker 1: losing assets? Um by losing access? And I think history 99 00:04:31,440 --> 00:04:34,600 Speaker 1: tells us it's actually a very probable thing that we 100 00:04:34,640 --> 00:04:36,640 Speaker 1: should be concerned about. I mean, we could go back 101 00:04:36,640 --> 00:04:40,599 Speaker 1: to Executive Order two. If you have any gold holders 102 00:04:40,600 --> 00:04:42,680 Speaker 1: out there, I'm sure you're very familiar with that. But 103 00:04:42,760 --> 00:04:46,040 Speaker 1: even today, you know, UM banks cut off your access. 104 00:04:46,160 --> 00:04:49,280 Speaker 1: Maybe you did some transactions they didn't like, maybe you know, 105 00:04:49,640 --> 00:04:53,080 Speaker 1: for whatever reason, you're going against the fold of it, 106 00:04:53,480 --> 00:04:55,600 Speaker 1: and they can essentially say, you know, no longer can 107 00:04:55,640 --> 00:04:59,280 Speaker 1: have access to these banking facilities. We have millions of 108 00:04:59,279 --> 00:05:01,440 Speaker 1: people who are banked around the world. So I think 109 00:05:01,480 --> 00:05:03,360 Speaker 1: it is a real problem, and I think the point 110 00:05:03,400 --> 00:05:05,640 Speaker 1: does solve that as well as, of course, you know, 111 00:05:05,720 --> 00:05:08,840 Speaker 1: solving the issue of a hard money asset, but having 112 00:05:09,120 --> 00:05:13,279 Speaker 1: the ability to fully hold the wealth in our hands 113 00:05:13,600 --> 00:05:16,159 Speaker 1: and have no way of being cut off from it. 114 00:05:16,200 --> 00:05:18,159 Speaker 1: I think it's a huge, huge part of it as well, 115 00:05:18,200 --> 00:05:23,760 Speaker 1: And so yes, I think it's extremely important aspect of it. Yeah, yeah, 116 00:05:23,839 --> 00:05:28,800 Speaker 1: you know, I've actually been in court all week virtually 117 00:05:28,960 --> 00:05:30,760 Speaker 1: I'm not supposed to be talking about it, but I'm 118 00:05:30,760 --> 00:05:32,920 Speaker 1: actually in a lawsuit with an exchange I'm not going 119 00:05:32,960 --> 00:05:36,719 Speaker 1: public with about yet because some of my assets disappeared 120 00:05:36,720 --> 00:05:38,800 Speaker 1: out of their mysteriously. This is a couple of years ago. 121 00:05:39,200 --> 00:05:41,240 Speaker 1: Um and if it if it can happen to me, 122 00:05:41,279 --> 00:05:44,320 Speaker 1: it can happen to anybody. Um. So so there's that. 123 00:05:44,360 --> 00:05:46,440 Speaker 1: But I think, you know, it's it's even bigger than that. 124 00:05:46,520 --> 00:05:50,320 Speaker 1: To write where you referenced the Executive Order six o two, 125 00:05:50,360 --> 00:05:54,440 Speaker 1: so basically that's back in three the government took everyone's 126 00:05:54,480 --> 00:05:57,839 Speaker 1: goals away and uh, a lot of people. Raydalio I 127 00:05:57,880 --> 00:06:00,520 Speaker 1: made a video about Rayal because he said that the 128 00:06:00,560 --> 00:06:05,000 Speaker 1: government will make bitcoin illegal just like they did gold. Um, 129 00:06:05,080 --> 00:06:06,560 Speaker 1: and the same reason why they did with gold. But 130 00:06:06,560 --> 00:06:08,640 Speaker 1: they may they were able to make gold illegal because 131 00:06:08,760 --> 00:06:11,159 Speaker 1: it was already in the banks and they went into 132 00:06:11,200 --> 00:06:13,880 Speaker 1: a bank holiday where they shut the banks down and 133 00:06:13,920 --> 00:06:17,120 Speaker 1: then when they reopened them, uh that you couldn't get 134 00:06:17,120 --> 00:06:18,600 Speaker 1: their gold out. But if they had to go like 135 00:06:18,760 --> 00:06:21,039 Speaker 1: across the prairie from ranch to ranch to rants with 136 00:06:21,080 --> 00:06:24,480 Speaker 1: people with guns and collect gold, it probably never would 137 00:06:24,480 --> 00:06:28,040 Speaker 1: have happened. No, absolutely, So that's a single point of failure, right, 138 00:06:28,080 --> 00:06:30,440 Speaker 1: So the bank became our single point of failure because 139 00:06:30,440 --> 00:06:32,680 Speaker 1: it was holding all of our assets. Um. And I 140 00:06:32,720 --> 00:06:36,640 Speaker 1: do feel like exchanges are that same uh have that 141 00:06:36,720 --> 00:06:40,000 Speaker 1: same issue as as that traditional banks do. So I 142 00:06:40,000 --> 00:06:42,640 Speaker 1: feel like if you're getting into bitcoin, it's okay to 143 00:06:42,680 --> 00:06:45,120 Speaker 1: be slightly intimidated by self crustody, but you do need 144 00:06:45,160 --> 00:06:47,320 Speaker 1: to understand how vital it is because it's one of 145 00:06:47,320 --> 00:06:50,279 Speaker 1: the factors the bitcoin that is extremely empowering, and that's 146 00:06:50,279 --> 00:06:53,640 Speaker 1: something at Engine Capital that we are Our goal essentially 147 00:06:53,680 --> 00:06:56,520 Speaker 1: is to help empower people to hold their wealth and 148 00:06:56,600 --> 00:07:00,000 Speaker 1: then of course offer additional services, but holding those keys 149 00:07:00,160 --> 00:07:02,600 Speaker 1: step one. That's the whole foundation, and so trying to 150 00:07:02,640 --> 00:07:05,360 Speaker 1: empower people to do that because it is the most 151 00:07:05,400 --> 00:07:08,719 Speaker 1: important part. Yeah, And I guess the big thing that 152 00:07:08,760 --> 00:07:10,680 Speaker 1: people have to kind of think through is like custodial 153 00:07:10,760 --> 00:07:13,360 Speaker 1: or non custodial like and I guess it really comes 154 00:07:13,400 --> 00:07:15,360 Speaker 1: down to do who holds the key? Right? Do I 155 00:07:15,400 --> 00:07:17,720 Speaker 1: have it myself or am I trusting somebody else? And 156 00:07:17,760 --> 00:07:21,480 Speaker 1: I guess they both have their pros and cons um 157 00:07:21,520 --> 00:07:22,760 Speaker 1: and I guess you just kind of kind of think 158 00:07:22,760 --> 00:07:26,200 Speaker 1: through which one suits your your particular needs. Yep. Everything 159 00:07:26,240 --> 00:07:28,880 Speaker 1: has trade offs, especially bitcoin. So I think it's one 160 00:07:28,880 --> 00:07:30,840 Speaker 1: of those things that there are services and sometimes you 161 00:07:30,840 --> 00:07:32,640 Speaker 1: want to you want to give up a little bit 162 00:07:32,680 --> 00:07:35,640 Speaker 1: to get those services. It just depends on each individual. 163 00:07:35,720 --> 00:07:38,000 Speaker 1: But also, yeah, you've got to kind of think of 164 00:07:38,040 --> 00:07:40,400 Speaker 1: like why are you holding bitcoin? Are you holding bitcoin 165 00:07:40,440 --> 00:07:42,760 Speaker 1: because it's the hardest money that's ever existed and nobody 166 00:07:42,760 --> 00:07:44,760 Speaker 1: can cut you off from it? Well, hey, then you 167 00:07:44,760 --> 00:07:47,120 Speaker 1: probably shouldn't have it around exchange that you could easily 168 00:07:47,160 --> 00:07:48,720 Speaker 1: be cut off on that. So yeah, I just think 169 00:07:48,720 --> 00:07:50,600 Speaker 1: it's it's something that we all have to think about, 170 00:07:50,640 --> 00:07:53,960 Speaker 1: and it is completely different than the traditional legacy system 171 00:07:54,000 --> 00:07:56,640 Speaker 1: and how we're used to dealing with things. Um. But yeah, 172 00:07:56,720 --> 00:07:58,800 Speaker 1: it's it's that single point of failure. I think we 173 00:07:59,160 --> 00:08:01,800 Speaker 1: a hundred years ago, everybody was sort of holding their assets, right, 174 00:08:01,840 --> 00:08:03,640 Speaker 1: so this idea of turning over to the bank was 175 00:08:03,680 --> 00:08:05,920 Speaker 1: not something people wanted to do. And so we sort 176 00:08:05,960 --> 00:08:08,600 Speaker 1: of have to retrain ourselves to what it feels like 177 00:08:08,640 --> 00:08:11,720 Speaker 1: to actually own an asset, and personal responsibility comes along 178 00:08:11,760 --> 00:08:15,280 Speaker 1: with that. But there is, in my opinion, uh, financial 179 00:08:15,320 --> 00:08:18,320 Speaker 1: freedom that comes along with it with that responsibility. Yeah, 180 00:08:18,360 --> 00:08:21,760 Speaker 1: if you think about, um, you know, way back, you 181 00:08:21,760 --> 00:08:24,080 Speaker 1: know whatever, hundred fifty years ago, people would just hold 182 00:08:24,160 --> 00:08:26,720 Speaker 1: hold gold, that would gold was money, and he would 183 00:08:26,720 --> 00:08:29,160 Speaker 1: you know from movies or whatever, you see they have 184 00:08:29,280 --> 00:08:31,960 Speaker 1: like a treasure a treasure map, Right, they'd go bury 185 00:08:32,000 --> 00:08:33,880 Speaker 1: their gold and then they'd have like this map and 186 00:08:34,120 --> 00:08:36,320 Speaker 1: that's how they would secure it by hide and I suppose, 187 00:08:37,360 --> 00:08:40,040 Speaker 1: but we've always had that problem, um, and so I think, 188 00:08:40,280 --> 00:08:43,040 Speaker 1: you know, we've needed a bank to store that because 189 00:08:43,040 --> 00:08:46,000 Speaker 1: of course we can't secure it properly. But now it's 190 00:08:46,040 --> 00:08:48,959 Speaker 1: just so easy and it costs no money. It Uh, 191 00:08:49,000 --> 00:08:52,080 Speaker 1: there's there's no security it's involved, um, just a little 192 00:08:52,120 --> 00:08:54,040 Speaker 1: bit of effort. I want to get into some of 193 00:08:54,080 --> 00:08:56,800 Speaker 1: the steps, UM that maybe you could help us think 194 00:08:56,800 --> 00:08:58,760 Speaker 1: through as far as custody or non custody. When we 195 00:08:58,800 --> 00:09:01,480 Speaker 1: get back, Um, you're listening to the Mark Mo Show. 196 00:09:01,760 --> 00:09:04,520 Speaker 1: We're talking about bitcoin and we're talking about cryptocurrencies. We're 197 00:09:04,520 --> 00:09:08,640 Speaker 1: talking about the d centralized Revolution. Of course, each and 198 00:09:08,679 --> 00:09:10,920 Speaker 1: every week, I'm with my good friend Justine Harper. You 199 00:09:10,960 --> 00:09:14,079 Speaker 1: can find her on Twitter at miss Hotel M s 200 00:09:14,280 --> 00:09:18,079 Speaker 1: h O d L. She's with Unchained Capital. UM. I 201 00:09:18,160 --> 00:09:19,720 Speaker 1: just brought her on to have a good talk and 202 00:09:20,120 --> 00:09:22,520 Speaker 1: just so happens, this story is right up her alley. 203 00:09:22,559 --> 00:09:25,760 Speaker 1: We'll be back with more on how to secure your 204 00:09:25,960 --> 00:09:28,760 Speaker 1: bitcoin when we get right back. Hey everyone, welcome back. 205 00:09:28,760 --> 00:09:31,000 Speaker 1: You are listening to the Mark Mo Show. We're talking 206 00:09:31,000 --> 00:09:36,360 Speaker 1: about bitcoin and cryptocurrency and the D Centralized Revolution. And 207 00:09:36,400 --> 00:09:37,880 Speaker 1: I tell you each and every week, this is the 208 00:09:38,000 --> 00:09:41,120 Speaker 1: biggest movement. This is the biggest shift we've ever seen 209 00:09:41,160 --> 00:09:43,400 Speaker 1: in humanity that we'll ever see. And of course, the 210 00:09:43,400 --> 00:09:45,520 Speaker 1: way to take advantage of it is to have information 211 00:09:45,559 --> 00:09:47,959 Speaker 1: that most people don't have, which is why you should 212 00:09:48,000 --> 00:09:51,120 Speaker 1: be here with me at this time. Each and every week, 213 00:09:51,120 --> 00:09:53,120 Speaker 1: so we'll paull out your phone set a reminder for 214 00:09:53,200 --> 00:09:56,120 Speaker 1: this channel for this time slot. UM. I'm here with 215 00:09:56,160 --> 00:09:58,240 Speaker 1: my good friend Justine Harper. You can find her on 216 00:09:58,280 --> 00:10:01,280 Speaker 1: Twitter at miss Hotel, ms h O d L at 217 00:10:01,320 --> 00:10:05,200 Speaker 1: Misshold of course, UM at one Mark moss UM. If 218 00:10:05,200 --> 00:10:06,880 Speaker 1: you'd like to give us a follow, shoot us a 219 00:10:06,920 --> 00:10:08,319 Speaker 1: question and tell us you heard us on the radio, 220 00:10:08,360 --> 00:10:11,200 Speaker 1: that would be awesome. But we were talking about before 221 00:10:11,240 --> 00:10:13,640 Speaker 1: the break this Wall Street Journal article that came out 222 00:10:13,800 --> 00:10:17,520 Speaker 1: talking about how people coming into bitcoin um or have 223 00:10:17,600 --> 00:10:20,640 Speaker 1: to think about wallets. UM. So it's interesting that they 224 00:10:20,679 --> 00:10:23,400 Speaker 1: brought that kind of to the forefront UM. And one 225 00:10:23,440 --> 00:10:25,360 Speaker 1: of the distinctions that they made, or they said that 226 00:10:25,400 --> 00:10:29,640 Speaker 1: people should think about would be UM custodial or non 227 00:10:29,720 --> 00:10:32,680 Speaker 1: custodial and UM. I think at the end of the day, 228 00:10:32,760 --> 00:10:36,000 Speaker 1: really that comes down to who holds the key. So 229 00:10:36,040 --> 00:10:39,040 Speaker 1: they say, you know, not your keys, not your coin. Uh. 230 00:10:39,280 --> 00:10:42,719 Speaker 1: So to speak Justine, UM, when you think about non 231 00:10:42,760 --> 00:10:46,839 Speaker 1: custodial wallets, UM, I guess typically I would think about 232 00:10:46,880 --> 00:10:49,040 Speaker 1: like apps on a phone that I would like download, 233 00:10:49,040 --> 00:10:51,600 Speaker 1: like an app UM. But I guess even like coin 234 00:10:51,600 --> 00:10:54,960 Speaker 1: base would also probably be considered a non custodial wallet. Right, 235 00:10:56,200 --> 00:10:59,559 Speaker 1: so I think coin base has a non custodial function. Um, 236 00:10:59,640 --> 00:11:02,199 Speaker 1: they do have like a separate wallet that does allow 237 00:11:02,240 --> 00:11:04,000 Speaker 1: you to hold the keys. UM, and we may take 238 00:11:04,040 --> 00:11:06,240 Speaker 1: a couple of steps back. I'm not sure how what 239 00:11:06,400 --> 00:11:08,800 Speaker 1: level of understanding the audience is that, but essentially bitcoin, 240 00:11:08,840 --> 00:11:10,800 Speaker 1: you know, essentially lives on a network. Whoever holds the 241 00:11:10,880 --> 00:11:14,040 Speaker 1: keys to this address can move funds and therefore prove 242 00:11:14,120 --> 00:11:17,120 Speaker 1: ownership by signing a t briansaction with these keys. UM. 243 00:11:17,240 --> 00:11:19,960 Speaker 1: So when you have funds on an exchange, they're holding bitcoin, 244 00:11:20,040 --> 00:11:22,200 Speaker 1: you have an IOU next your name that says this 245 00:11:22,280 --> 00:11:25,920 Speaker 1: is how much you own, and you're asking them for 246 00:11:26,000 --> 00:11:29,520 Speaker 1: permission to move those funds. Holding your own keys or 247 00:11:29,559 --> 00:11:33,079 Speaker 1: self custody essentially means you hold those keys and therefore 248 00:11:33,120 --> 00:11:35,800 Speaker 1: there's no middle lamp. And so when you move over 249 00:11:35,840 --> 00:11:39,200 Speaker 1: to a non custodial wallet, that essentially means when you 250 00:11:39,240 --> 00:11:41,560 Speaker 1: set up this wallet, you were given a set of keys. 251 00:11:42,080 --> 00:11:45,920 Speaker 1: In bitcoin, keys sometimes look like something called seed phrases, 252 00:11:45,960 --> 00:11:48,240 Speaker 1: which is a list of twelve to twenty four words. 253 00:11:48,240 --> 00:11:51,320 Speaker 1: It's essentially a code or algorithm that represents this long 254 00:11:51,440 --> 00:11:54,760 Speaker 1: string of characters that is your keys. So um, if 255 00:11:54,800 --> 00:11:56,719 Speaker 1: you have not been given those seed phrases when you 256 00:11:56,760 --> 00:11:59,120 Speaker 1: set up this wallet, you don't have the keys. So 257 00:11:59,240 --> 00:12:01,640 Speaker 1: you can find into mobile apps which we would call 258 00:12:01,720 --> 00:12:04,880 Speaker 1: like a hot wallet, um. Great ones would be like 259 00:12:04,960 --> 00:12:09,360 Speaker 1: blue wallet, Green wallet, Moon wallet um. And then you 260 00:12:09,440 --> 00:12:12,000 Speaker 1: have custodial services who hold those keys for you, which 261 00:12:12,000 --> 00:12:14,800 Speaker 1: when I think of that, you have exchanges. This article 262 00:12:14,880 --> 00:12:17,280 Speaker 1: is talking about banks doing this. Perhaps you know there 263 00:12:17,280 --> 00:12:20,120 Speaker 1: are a lot of uh companies that do this for you. 264 00:12:20,679 --> 00:12:22,920 Speaker 1: Then you can go and even step further and do 265 00:12:23,040 --> 00:12:26,560 Speaker 1: something called hardware wallets, which means you're holding your keys 266 00:12:26,760 --> 00:12:31,240 Speaker 1: on a separate device, not on your phone, not online um. 267 00:12:31,280 --> 00:12:34,680 Speaker 1: And it's just a small user interface exactly that allows 268 00:12:34,720 --> 00:12:37,640 Speaker 1: you to interact with those keys and stores them securely. 269 00:12:37,800 --> 00:12:41,360 Speaker 1: So that's my that's my quick spiel on on how 270 00:12:41,400 --> 00:12:44,320 Speaker 1: those work. But yes, essentially, when I think of non custodio, 271 00:12:44,520 --> 00:12:47,920 Speaker 1: I think of someone who some sort of entity that's 272 00:12:47,960 --> 00:12:51,040 Speaker 1: offering a wallet software for you to use while you 273 00:12:51,080 --> 00:12:54,319 Speaker 1: hold the keys, um, rather than custodio like an exchange 274 00:12:54,360 --> 00:12:57,280 Speaker 1: that's that's just holding the asset for you. You know, 275 00:12:57,400 --> 00:13:00,000 Speaker 1: I think about as I was saying, but I think 276 00:13:00,040 --> 00:13:02,440 Speaker 1: before the in the last section before the break. Um, 277 00:13:02,480 --> 00:13:05,559 Speaker 1: it really solves the oldest problem that mankind has had 278 00:13:05,640 --> 00:13:07,640 Speaker 1: is how can I store my property in a way 279 00:13:07,679 --> 00:13:10,040 Speaker 1: that it can't be stolen from me? So bitcoin solves 280 00:13:10,080 --> 00:13:13,000 Speaker 1: that problem, and that's definitely one way, one reason to custody. 281 00:13:13,040 --> 00:13:15,959 Speaker 1: I also think about it another way, um, kind of 282 00:13:16,000 --> 00:13:17,960 Speaker 1: we talked about with the golden situation. Now they stole 283 00:13:18,000 --> 00:13:21,920 Speaker 1: the gold, and I'd like to say that centralization always 284 00:13:21,960 --> 00:13:26,640 Speaker 1: leads to manipulation, and so um, you know, almost we 285 00:13:26,679 --> 00:13:29,600 Speaker 1: have a responsibility, well we should want to take custody 286 00:13:29,640 --> 00:13:32,559 Speaker 1: of our assets because we can, and it solves that problem. 287 00:13:32,600 --> 00:13:35,640 Speaker 1: But we also seem to, probably at least myself, I'm 288 00:13:35,640 --> 00:13:38,319 Speaker 1: curious where you're at, but probably have like this responsibility 289 00:13:38,360 --> 00:13:43,320 Speaker 1: to hold these financial firms responsible. And so um, when 290 00:13:43,360 --> 00:13:46,160 Speaker 1: we allow them to centralize all our assets, they'll start 291 00:13:46,200 --> 00:13:47,760 Speaker 1: to manipulate it, just like they did with gold. They 292 00:13:47,760 --> 00:13:51,400 Speaker 1: started printing too many gold certificates. Um. And so you know, 293 00:13:51,600 --> 00:13:53,800 Speaker 1: we have in the in the gold paper market, there's 294 00:13:53,840 --> 00:13:57,520 Speaker 1: like five hundred paper ounces for everyone physical ounce being sold. 295 00:13:57,840 --> 00:14:00,040 Speaker 1: And now we're starting to see like bitcoin, ETFs and 296 00:14:00,080 --> 00:14:03,240 Speaker 1: all these types of things, and like we can just 297 00:14:04,040 --> 00:14:07,240 Speaker 1: pull our bitcoin off the exchange and like we can 298 00:14:07,280 --> 00:14:09,520 Speaker 1: hold them accountabill make sure they're like playing by the 299 00:14:09,600 --> 00:14:10,959 Speaker 1: rules all the time. I mean, do you think that's 300 00:14:10,960 --> 00:14:13,480 Speaker 1: a big piece of that as well? Yes, I think 301 00:14:13,480 --> 00:14:15,319 Speaker 1: it's a huge piece. I think when we go back 302 00:14:15,559 --> 00:14:18,040 Speaker 1: in um in history and like how did we get here, right, 303 00:14:18,080 --> 00:14:21,280 Speaker 1: we all used gold independently. We used to chip those 304 00:14:21,480 --> 00:14:24,720 Speaker 1: chips off of our gold block right to transact with people, 305 00:14:25,200 --> 00:14:27,200 Speaker 1: and then we found an easier way to solve this 306 00:14:27,320 --> 00:14:29,920 Speaker 1: issue of transacting by giving the bank our gold and 307 00:14:29,920 --> 00:14:32,360 Speaker 1: they give us a piece of paper that was redeemable 308 00:14:32,440 --> 00:14:35,920 Speaker 1: for that gold. And then the the issue rise like 309 00:14:35,960 --> 00:14:37,880 Speaker 1: you speak of that. Now they had all this gold 310 00:14:38,200 --> 00:14:42,320 Speaker 1: and they were, you know, doing paper or coins, and 311 00:14:42,360 --> 00:14:46,720 Speaker 1: they could decide what percentage of gold or asset was 312 00:14:46,840 --> 00:14:49,600 Speaker 1: within those right, how much did you get in return? 313 00:14:49,960 --> 00:14:52,200 Speaker 1: And that led to printing. You know, they can they 314 00:14:52,200 --> 00:14:57,920 Speaker 1: can print endless amounts of this helicopter paper money right 315 00:14:57,960 --> 00:15:00,040 Speaker 1: anytime they want, and we have no ability to you 316 00:15:00,120 --> 00:15:04,320 Speaker 1: audit that supply, We have no ability to demand those assets. 317 00:15:04,680 --> 00:15:06,800 Speaker 1: We're just sort of in their hands. So I think 318 00:15:06,800 --> 00:15:10,640 Speaker 1: the point is very different even in the way of 319 00:15:10,760 --> 00:15:13,280 Speaker 1: using these sort of third parties is that you can't 320 00:15:13,440 --> 00:15:17,240 Speaker 1: you can't make more bitcoin. You can independently audit the supply, 321 00:15:17,480 --> 00:15:19,960 Speaker 1: you can see it publicly where it sits, and so 322 00:15:20,120 --> 00:15:22,560 Speaker 1: they are held to a higher standard. But I do 323 00:15:22,760 --> 00:15:25,440 Speaker 1: think that if we get into a habit of always 324 00:15:25,520 --> 00:15:27,760 Speaker 1: relying on these third parties, we're going to find our 325 00:15:27,800 --> 00:15:31,080 Speaker 1: thoughts self in a situation of that centralized entity and 326 00:15:31,240 --> 00:15:33,360 Speaker 1: single point of failure. And that, in my opinion, is 327 00:15:33,360 --> 00:15:35,920 Speaker 1: why self custody, even if you start off very simply 328 00:15:36,360 --> 00:15:40,080 Speaker 1: should be the adiable for everyone. Yeah. Yeah, we gotta 329 00:15:40,160 --> 00:15:43,600 Speaker 1: keep these uh got to keep these uh institutions accountable. 330 00:15:43,640 --> 00:15:46,280 Speaker 1: I mean, otherwise we just have only ourselves to blame. 331 00:15:46,320 --> 00:15:48,200 Speaker 1: You know, in the past, it wasn't our fault, you know, 332 00:15:48,560 --> 00:15:52,280 Speaker 1: especially in futures um commodity, so bitcoin is considered a commodity, 333 00:15:52,320 --> 00:15:55,320 Speaker 1: So oil, wheat, you know, things like that. We we 334 00:15:55,400 --> 00:15:57,520 Speaker 1: can't take delivery of oil, like what am I going 335 00:15:57,560 --> 00:15:59,600 Speaker 1: to do with that? And so you know you're kind 336 00:15:59,600 --> 00:16:01,520 Speaker 1: of stuck with that. Even gold, like how do I 337 00:16:01,600 --> 00:16:04,600 Speaker 1: take delivery of the gold? Um that we can take 338 00:16:04,680 --> 00:16:06,840 Speaker 1: delivery of bitcoin with just clicking a button and it 339 00:16:06,880 --> 00:16:10,600 Speaker 1: doesn't cost us anything, and so um. I guess man, 340 00:16:10,640 --> 00:16:13,000 Speaker 1: if people don't want to take the responsibility to do that, 341 00:16:13,040 --> 00:16:17,920 Speaker 1: they probably deserve what they're gonna get. Well, first of all, like, 342 00:16:18,080 --> 00:16:21,480 Speaker 1: are you saying you can't independently audit the supply of oil? Mark? 343 00:16:21,560 --> 00:16:23,520 Speaker 1: Like what are you doing with yourself? Um? But yes, 344 00:16:23,760 --> 00:16:25,840 Speaker 1: so I do think that, like I said, everything has 345 00:16:25,880 --> 00:16:27,880 Speaker 1: trade offs. Um. I do think that there will be 346 00:16:27,920 --> 00:16:32,200 Speaker 1: people who just get exposed to bitcoin or crypto um 347 00:16:32,440 --> 00:16:36,440 Speaker 1: through these third parties. But you're just getting financial exposures. 348 00:16:36,480 --> 00:16:38,960 Speaker 1: So maybe it's about price action, right, You're not getting 349 00:16:39,000 --> 00:16:42,640 Speaker 1: the benefits of a decentralized asset that you can own. 350 00:16:43,040 --> 00:16:46,600 Speaker 1: You only get that if you are holding the keys. Um. 351 00:16:46,640 --> 00:16:49,320 Speaker 1: But yes, we can hold them accountable because they can't 352 00:16:49,320 --> 00:16:51,440 Speaker 1: just make up a number on a spreadsheet anymore. Right, 353 00:16:51,440 --> 00:16:53,520 Speaker 1: we're taking that ability away from them. And that's what 354 00:16:53,600 --> 00:16:57,440 Speaker 1: the point does is it aligns the incentives and allows 355 00:16:57,520 --> 00:17:01,360 Speaker 1: us to audit absolutely everything. Yeah, that's a good point. 356 00:17:01,400 --> 00:17:03,720 Speaker 1: When when you buy it on on exchange, like well, 357 00:17:03,720 --> 00:17:06,040 Speaker 1: not exchange, but like a robin Hood for example, or 358 00:17:06,080 --> 00:17:10,359 Speaker 1: a cash app, um, you're not really or PayPal, I think, uh, 359 00:17:10,440 --> 00:17:12,199 Speaker 1: some of those they don't allow you to withdraw it. 360 00:17:12,280 --> 00:17:14,120 Speaker 1: So kind of to the point you just made, you're 361 00:17:14,119 --> 00:17:17,320 Speaker 1: getting exposure to the price of bitcoin um, but you're 362 00:17:17,359 --> 00:17:21,639 Speaker 1: not really participating in this decentralized revolution that's actually happening. 363 00:17:21,640 --> 00:17:24,600 Speaker 1: You're not you're not you're not doing anything revolutionary. All 364 00:17:24,680 --> 00:17:27,880 Speaker 1: you're literally doing is gambling and just betting on the price. 365 00:17:27,920 --> 00:17:30,159 Speaker 1: And so that's that's a good point. So definitely think 366 00:17:30,200 --> 00:17:32,600 Speaker 1: about one where you buy it. I mean, you should 367 00:17:32,600 --> 00:17:35,000 Speaker 1: buy it at a place that allows you to withdraw it, 368 00:17:35,480 --> 00:17:38,320 Speaker 1: and then of course the next step is to withdraw it. 369 00:17:39,040 --> 00:17:41,680 Speaker 1: Maybe start small, right, I get it, it's scary. I've 370 00:17:41,720 --> 00:17:44,280 Speaker 1: lost a lot of bitcoin um, anybody who's been in 371 00:17:44,359 --> 00:17:47,119 Speaker 1: the space long enough has and so so start small 372 00:17:47,560 --> 00:17:49,760 Speaker 1: doing that. I want to switch gears. I want to 373 00:17:49,840 --> 00:17:53,360 Speaker 1: jump into some big news that happened this week. One 374 00:17:53,400 --> 00:17:57,840 Speaker 1: of bitcoin's biggest people talk to one of the uh 375 00:17:58,000 --> 00:18:01,159 Speaker 1: I don't know, psychology philosophies, world's biggest people, and there 376 00:18:01,160 --> 00:18:03,359 Speaker 1: were some really good nuggets with that. You listen to 377 00:18:03,359 --> 00:18:06,359 Speaker 1: the Mark Moss Show and with Justine Harper Misshotel and 378 00:18:06,400 --> 00:18:09,960 Speaker 1: we're gonna be right back, all right, welcome back. You 379 00:18:10,000 --> 00:18:12,080 Speaker 1: are listening to the Mark ma Show, where we talk 380 00:18:12,160 --> 00:18:15,679 Speaker 1: about bitcoin each and every week. We talked about bitcoins 381 00:18:15,720 --> 00:18:20,000 Speaker 1: and cryptocurrencies, decentralized revolution. We're talking about this entire movement 382 00:18:20,040 --> 00:18:23,199 Speaker 1: that's going on. I'm here every week trying to give 383 00:18:23,240 --> 00:18:26,159 Speaker 1: you the asymmetric information so you can participate in this 384 00:18:26,280 --> 00:18:29,959 Speaker 1: asymmetric opportunity. I'm here with my good friend Justine Harper. 385 00:18:30,240 --> 00:18:32,679 Speaker 1: You can find her on Twitter at Misshotel that's m 386 00:18:32,800 --> 00:18:36,440 Speaker 1: s h O d l UM. I gotta warn you though, 387 00:18:36,840 --> 00:18:40,600 Speaker 1: she can be a little snarky sometimes, but I love it. 388 00:18:40,640 --> 00:18:43,520 Speaker 1: I love the doctor, so I'm so happy that she's here. UM. 389 00:18:43,560 --> 00:18:46,560 Speaker 1: We were talking about UM this Wall Street Journal article 390 00:18:46,600 --> 00:18:49,320 Speaker 1: about UM how to custom your coin and how to 391 00:18:49,320 --> 00:18:52,200 Speaker 1: think through different types of wallets. She's the perfect perfect 392 00:18:52,240 --> 00:18:54,160 Speaker 1: person to talk to about that because as she works 393 00:18:54,200 --> 00:18:56,840 Speaker 1: for unchained Capital, which is a company that I used 394 00:18:56,880 --> 00:18:59,639 Speaker 1: to help me secure my bitcoin. So check them out 395 00:18:59,680 --> 00:19:02,600 Speaker 1: when you get a chance. Unchained Capital. UM, Justine, I 396 00:19:02,640 --> 00:19:04,760 Speaker 1: want to talk about something else. So there's an article 397 00:19:04,880 --> 00:19:07,320 Speaker 1: or actually, something big happened this week, and that was 398 00:19:08,000 --> 00:19:12,280 Speaker 1: Jordan Peterson, who most people probably know by now, probably 399 00:19:12,320 --> 00:19:16,600 Speaker 1: doesn't need a big introduction of who he is. UM 400 00:19:16,640 --> 00:19:19,959 Speaker 1: probably one of the smartest people. I mean, I mean 401 00:19:20,000 --> 00:19:23,000 Speaker 1: there's there's there's all different types of genius, I suppose, UM, 402 00:19:23,040 --> 00:19:24,879 Speaker 1: but man, I think the world needs more people like 403 00:19:24,960 --> 00:19:28,119 Speaker 1: Jordan Peterson, or at least we need him around for 404 00:19:28,200 --> 00:19:30,879 Speaker 1: quite a bit longer to help educate people. UM. And 405 00:19:31,040 --> 00:19:34,080 Speaker 1: he sat down with with Safety and Safety and Mos 406 00:19:34,119 --> 00:19:37,000 Speaker 1: who's is a big bitcoin also kind of a philosopher, 407 00:19:37,000 --> 00:19:41,840 Speaker 1: Austrian economist, UM, and it made made made big waves 408 00:19:42,359 --> 00:19:43,879 Speaker 1: and I thought there were some really good things that 409 00:19:43,920 --> 00:19:45,720 Speaker 1: came out of it. So a couple of things I 410 00:19:45,760 --> 00:19:49,080 Speaker 1: saw was like Jordan Peterson kind of had this uh, 411 00:19:49,480 --> 00:19:53,160 Speaker 1: this kind of aha moment. UM. Did you watch first 412 00:19:53,200 --> 00:19:54,560 Speaker 1: of all, did you watch when he talked with a 413 00:19:54,640 --> 00:19:56,879 Speaker 1: breed Love and Jon Wallace and all those guys you 414 00:19:56,960 --> 00:19:59,320 Speaker 1: catch that? Yes? Yeah, no, that was great from a 415 00:19:59,320 --> 00:20:01,639 Speaker 1: book club like this started as a book club and 416 00:20:01,640 --> 00:20:04,240 Speaker 1: then somehow which is just so these are the these 417 00:20:04,280 --> 00:20:06,919 Speaker 1: are some of the most amazing people in bitcoin, um 418 00:20:06,960 --> 00:20:10,119 Speaker 1: talking to as you mentioned, like a man who needs 419 00:20:10,119 --> 00:20:12,760 Speaker 1: no introduction. So it was definitely one of those moments 420 00:20:12,800 --> 00:20:16,280 Speaker 1: that was like beautiful for everyone involved. But yes, so 421 00:20:16,640 --> 00:20:18,920 Speaker 1: this is another one of those moments for sure. Yeah, 422 00:20:19,000 --> 00:20:20,600 Speaker 1: it was so good. You know, because I love Jordan 423 00:20:20,600 --> 00:20:24,199 Speaker 1: Pearson because he's so so smart. Um. But at the 424 00:20:24,240 --> 00:20:27,600 Speaker 1: same time, he doesn't like rely on like I'm so smart, 425 00:20:27,640 --> 00:20:30,040 Speaker 1: I know everything. He's actually very inquisitive, right, he loves 426 00:20:30,080 --> 00:20:33,120 Speaker 1: to ask questions. He's a great interviewer because of that, 427 00:20:33,640 --> 00:20:36,960 Speaker 1: um and and and uh yeah, there was probably probably 428 00:20:37,040 --> 00:20:39,320 Speaker 1: not many people better equipped to talk to him than 429 00:20:39,400 --> 00:20:41,320 Speaker 1: Breed Love and Valae because they were able to talk 430 00:20:41,320 --> 00:20:43,760 Speaker 1: to him like on that level. While I would love 431 00:20:43,760 --> 00:20:45,120 Speaker 1: to talk to him, I don't think I could talk 432 00:20:45,119 --> 00:20:48,119 Speaker 1: to that same level like they were able to match him, 433 00:20:48,160 --> 00:20:50,400 Speaker 1: you know. Kind of That's how I felt about anyway. 434 00:20:51,280 --> 00:20:53,760 Speaker 1: Absolutely no. They have this way of like a very 435 00:20:53,840 --> 00:20:57,520 Speaker 1: intellectual almost spiritual way of discussing things, and I feel 436 00:20:57,560 --> 00:21:00,360 Speaker 1: like that's how he is. And they all also sort 437 00:21:00,359 --> 00:21:03,400 Speaker 1: of practiced this extreme ownership way about them um, which 438 00:21:03,560 --> 00:21:05,880 Speaker 1: that's one of the things I really love about Pearson um. 439 00:21:05,880 --> 00:21:08,159 Speaker 1: But they do as well. So I thought that was 440 00:21:08,200 --> 00:21:10,280 Speaker 1: a great match. And then safe Adan, who's one of 441 00:21:10,359 --> 00:21:12,000 Speaker 1: my favorite people in the space. If you want to 442 00:21:12,040 --> 00:21:15,800 Speaker 1: talk about Stark the a k A. Passionate, he's definitely 443 00:21:15,840 --> 00:21:18,120 Speaker 1: one of those people. It's probably why we get along 444 00:21:18,160 --> 00:21:20,320 Speaker 1: so well, so this was a great one. Um, that 445 00:21:20,400 --> 00:21:23,040 Speaker 1: aha moment was amazing. But yes, I'll let you continue. 446 00:21:23,080 --> 00:21:24,919 Speaker 1: But yeah, I'm right there with you. This was one 447 00:21:24,960 --> 00:21:27,159 Speaker 1: of those moments that's like, Wow, I can't believe this 448 00:21:27,240 --> 00:21:30,000 Speaker 1: is happening. Yeah, shout out to safety and too. You 449 00:21:30,040 --> 00:21:31,720 Speaker 1: follow him on Twitter as well. He wrote the book 450 00:21:31,760 --> 00:21:35,159 Speaker 1: The Bitcoin Standard, which is uh. I mean everybody should 451 00:21:35,200 --> 00:21:36,920 Speaker 1: anyone listen to this at this point right now, should 452 00:21:36,920 --> 00:21:39,399 Speaker 1: get that book, The Bitcoin Standard. He just released a 453 00:21:39,400 --> 00:21:41,600 Speaker 1: new book I've pre ordered. I haven't got my copy yet, 454 00:21:41,600 --> 00:21:44,240 Speaker 1: but it's called The Fiat Standard, which I'm sure is 455 00:21:44,280 --> 00:21:46,680 Speaker 1: going to be equally as good. Um, so everybody check 456 00:21:46,720 --> 00:21:48,480 Speaker 1: that out. But you know, one of the things about 457 00:21:48,520 --> 00:21:51,399 Speaker 1: Jordan Peterson, if you if you watch his content, is uh, 458 00:21:51,760 --> 00:21:53,960 Speaker 1: he's got a lot of haters for because he doesn't 459 00:21:54,000 --> 00:21:56,800 Speaker 1: tell people that it's okay, it's not your fault. He 460 00:21:56,840 --> 00:21:59,199 Speaker 1: doesn't pander to that victim mentality, which I know you 461 00:21:59,280 --> 00:22:02,320 Speaker 1: don't either. He's like, shut up, this is the hand 462 00:22:02,320 --> 00:22:04,159 Speaker 1: that you're dealt like, deal with it, right, And so 463 00:22:04,200 --> 00:22:06,280 Speaker 1: he's like a very matter of fact about things, which 464 00:22:06,320 --> 00:22:08,439 Speaker 1: I I resonate with. I think more people need to 465 00:22:08,480 --> 00:22:11,760 Speaker 1: hear UM. And and one of the things that I think, 466 00:22:11,760 --> 00:22:13,600 Speaker 1: you know, as he was going through this, he said, 467 00:22:13,880 --> 00:22:18,400 Speaker 1: he's like safety and said, like, there's no insiders in bitcoin. 468 00:22:19,160 --> 00:22:23,879 Speaker 1: Bitcoin only has users. There's no admins. UM, there's nobody 469 00:22:23,920 --> 00:22:26,639 Speaker 1: with a master key. There's nobody that controls it. And 470 00:22:26,680 --> 00:22:29,200 Speaker 1: I think that was like a pretty big aspect that 471 00:22:29,320 --> 00:22:31,280 Speaker 1: Jordan Peterson hit. And that's something that I think you 472 00:22:31,320 --> 00:22:33,480 Speaker 1: and I talked about a lot. What does that mean 473 00:22:33,480 --> 00:22:37,800 Speaker 1: that it has no admin, no insiders, Well, there's nobody, Uh, 474 00:22:37,840 --> 00:22:40,720 Speaker 1: there's no centralized insitu. Right Like we kind of joke 475 00:22:40,800 --> 00:22:42,800 Speaker 1: that bitcoin doesn't have a marketing team. But you know 476 00:22:42,800 --> 00:22:45,360 Speaker 1: what else it doesn't have is some like terrible CEO 477 00:22:45,640 --> 00:22:47,399 Speaker 1: telling us all what direction it's going to go in, 478 00:22:47,560 --> 00:22:51,840 Speaker 1: right like, it truly is UM decided by the by consensus, 479 00:22:51,880 --> 00:22:54,360 Speaker 1: which is the individuals running the software. And so there 480 00:22:54,480 --> 00:22:57,199 Speaker 1: is no there's first no one who can just decide 481 00:22:57,240 --> 00:23:00,359 Speaker 1: that you no longer can use bitcoin um. But also 482 00:23:00,400 --> 00:23:05,240 Speaker 1: there's no one making these decisions, which does sometimes, uh 483 00:23:05,560 --> 00:23:08,320 Speaker 1: look interesting as we all sort of figure it out. 484 00:23:08,400 --> 00:23:11,359 Speaker 1: I think that a centralization sometimes can look smoother from 485 00:23:11,400 --> 00:23:14,960 Speaker 1: the outside looking in UM, but it also has you know, 486 00:23:15,359 --> 00:23:17,520 Speaker 1: it has a lot of downfall with the hitolized nature. 487 00:23:17,680 --> 00:23:21,240 Speaker 1: So I do think that both of these individuals talk 488 00:23:21,280 --> 00:23:23,720 Speaker 1: a lot about personal responsibility. So I think that that's 489 00:23:23,720 --> 00:23:27,399 Speaker 1: something obviously that would come up about bitcoin because bitcoin is, 490 00:23:27,720 --> 00:23:31,680 Speaker 1: you know, personal responsibility. You get absolute freedom if you're 491 00:23:31,680 --> 00:23:34,920 Speaker 1: willing to take on that personal responsibility. Um, and yeah, 492 00:23:35,000 --> 00:23:37,600 Speaker 1: there's nobody, there's nobody that can stop you from using bitcoin. 493 00:23:37,680 --> 00:23:40,680 Speaker 1: Then I love that contrast. Like you said, right, like 494 00:23:40,960 --> 00:23:42,840 Speaker 1: you get ultimate freedom, but you have to be willing 495 00:23:42,840 --> 00:23:44,680 Speaker 1: to take the responsibility. And I think a lot of 496 00:23:44,720 --> 00:23:46,760 Speaker 1: times today people want the freedom, but they don't want 497 00:23:46,760 --> 00:23:50,199 Speaker 1: the responsibility. Like I want ability to do this, but 498 00:23:50,280 --> 00:23:52,359 Speaker 1: if something bad happens, then I want you to be 499 00:23:52,400 --> 00:23:55,880 Speaker 1: responsible for it. Kind of a thing. Uh. Maybe that's 500 00:23:55,880 --> 00:23:59,160 Speaker 1: why some people don't get bitcoins. I I think so 501 00:23:59,560 --> 00:24:02,000 Speaker 1: very much. Um, I think that this sort of isn't 502 00:24:02,040 --> 00:24:04,679 Speaker 1: just about bitcoin though. I think this idea of personal 503 00:24:04,720 --> 00:24:07,399 Speaker 1: responsibility you can have these things, but you have to 504 00:24:07,480 --> 00:24:09,720 Speaker 1: work for them is sort of something that we've moved 505 00:24:09,720 --> 00:24:12,479 Speaker 1: away from in society. I mean, if you look at 506 00:24:12,520 --> 00:24:14,199 Speaker 1: and then this is sort of my background. Before I 507 00:24:14,200 --> 00:24:16,560 Speaker 1: got into bitcoin, I was very much into homesteady and 508 00:24:16,600 --> 00:24:18,439 Speaker 1: trying to figure out how to remove the middleman. And 509 00:24:18,480 --> 00:24:19,919 Speaker 1: you know, this is why I was a gold holder, 510 00:24:19,960 --> 00:24:22,600 Speaker 1: and I was like trying to learn how to, you know, 511 00:24:23,359 --> 00:24:25,760 Speaker 1: replace products from the store with things I would buy 512 00:24:26,440 --> 00:24:28,960 Speaker 1: or I'm sorry make instead of purchase. And so, like 513 00:24:29,119 --> 00:24:32,280 Speaker 1: with everything in life, there is there's a balance, right, 514 00:24:32,320 --> 00:24:34,399 Speaker 1: there's a trade off. If you want this freedom, you 515 00:24:34,400 --> 00:24:36,120 Speaker 1: have to work a little bit harder. If you want 516 00:24:36,160 --> 00:24:39,720 Speaker 1: this this pro you have to sort of work for it. 517 00:24:40,000 --> 00:24:42,879 Speaker 1: And so bitcoin is that way. Um, it's one of 518 00:24:42,880 --> 00:24:45,359 Speaker 1: those things that you can have the ultimate financial freedom, 519 00:24:45,359 --> 00:24:48,080 Speaker 1: but yeah, it's not gonna be handed to you. There 520 00:24:48,080 --> 00:24:50,040 Speaker 1: are some steps you have to take. And I do 521 00:24:50,160 --> 00:24:52,360 Speaker 1: think that we as a society of falling away from 522 00:24:52,400 --> 00:24:55,639 Speaker 1: personal responsibility and extreme ownership kind of like what you 523 00:24:55,720 --> 00:24:59,000 Speaker 1: mentioned is like you're responsible for the things you do, 524 00:24:59,040 --> 00:25:01,200 Speaker 1: and you're also response well for the outcome of your life. 525 00:25:01,240 --> 00:25:03,760 Speaker 1: There are things bumps along the way, and how you 526 00:25:03,800 --> 00:25:05,919 Speaker 1: deal with them sort of defines who you are as 527 00:25:05,920 --> 00:25:08,080 Speaker 1: an individual. But at the end of the day, it's 528 00:25:08,160 --> 00:25:10,880 Speaker 1: you and what you choose to do makes you who 529 00:25:10,920 --> 00:25:13,040 Speaker 1: you are. Um, And I think that resonates a lot 530 00:25:13,119 --> 00:25:15,800 Speaker 1: with individuals who kind of get into bitcoin. Is that like, oh, 531 00:25:15,960 --> 00:25:18,720 Speaker 1: I I can choose how much freedom I have here. 532 00:25:18,760 --> 00:25:21,480 Speaker 1: I it's it's here. I can use it. I can 533 00:25:21,480 --> 00:25:23,159 Speaker 1: do whatever I want with it. I can, I can 534 00:25:23,240 --> 00:25:25,080 Speaker 1: use it in different levels. Right, But it's up to 535 00:25:25,080 --> 00:25:28,520 Speaker 1: me to actually take those steps into it. Yeah, and 536 00:25:28,560 --> 00:25:30,040 Speaker 1: that goes back to what we're talking about in the 537 00:25:30,040 --> 00:25:32,159 Speaker 1: earlier segment about the custody. Right, you have to have 538 00:25:32,240 --> 00:25:36,200 Speaker 1: that responsibility. You want on to say that the aspect 539 00:25:36,320 --> 00:25:40,320 Speaker 1: that and um, any user is seen and treated equally 540 00:25:40,640 --> 00:25:44,400 Speaker 1: by the bitcoin network, which is super powerful. Right, it's revolutionary. 541 00:25:44,440 --> 00:25:48,880 Speaker 1: Everyone is is is equally. Um. The fiat currency is opposite. 542 00:25:48,920 --> 00:25:51,720 Speaker 1: So the people that produce the money and our closest 543 00:25:51,720 --> 00:25:54,800 Speaker 1: to the money supply get unequal treatment. Uh. There's just 544 00:25:54,840 --> 00:25:57,960 Speaker 1: not a system that's fair at all. Yeah. I am 545 00:25:58,119 --> 00:26:01,199 Speaker 1: one of my favorite bitcoin scenes. UM. I do actually 546 00:26:01,200 --> 00:26:04,080 Speaker 1: have this as a little sign on my bookshelf is 547 00:26:04,119 --> 00:26:07,800 Speaker 1: Bitcoin doesn't care. And what I think that means is 548 00:26:07,840 --> 00:26:10,280 Speaker 1: that like bitcoin doesn't care where you came from. It 549 00:26:10,320 --> 00:26:13,520 Speaker 1: doesn't care about your race, your gender, it doesn't care 550 00:26:13,560 --> 00:26:16,040 Speaker 1: about your income level. It is equal to all. It 551 00:26:16,080 --> 00:26:19,720 Speaker 1: is the ultimate equalizer. Everyone has the equal chance to 552 00:26:19,840 --> 00:26:23,120 Speaker 1: partake in the network. Anybody can run the software very 553 00:26:23,160 --> 00:26:26,080 Speaker 1: easily and cheaply at home. Um, and you have the 554 00:26:26,160 --> 00:26:29,800 Speaker 1: same access as anyone else. And no matter if someone 555 00:26:29,840 --> 00:26:32,560 Speaker 1: owns more than you, it doesn't matter. They don't get 556 00:26:32,600 --> 00:26:35,760 Speaker 1: to decide what happens to your state just because they 557 00:26:35,760 --> 00:26:38,600 Speaker 1: own more. Uh. They don't decide what happens to your 558 00:26:38,640 --> 00:26:41,040 Speaker 1: asset because they don't like you. You know, Bitcoin is 559 00:26:41,080 --> 00:26:43,800 Speaker 1: for enemies that you don't get to decide who uses 560 00:26:43,800 --> 00:26:46,720 Speaker 1: it and how. Uh. And so I do truly believe 561 00:26:46,760 --> 00:26:51,000 Speaker 1: it's the ultimate equalizer. And I find that extremely revolutionary. 562 00:26:51,000 --> 00:26:53,040 Speaker 1: I mean, there's there's places in the world that women 563 00:26:53,080 --> 00:26:55,520 Speaker 1: aren't allowed to have bank accounts, but they can have 564 00:26:55,560 --> 00:26:57,720 Speaker 1: a bitcoin wallet, they can hold the keys, they can 565 00:26:57,720 --> 00:27:00,600 Speaker 1: take their wealth across uh, you know, state or country 566 00:27:00,600 --> 00:27:04,600 Speaker 1: lines and nothing can stop them. And and that's that's 567 00:27:04,640 --> 00:27:09,680 Speaker 1: so revolutionary. I love that you said, um, nobody can 568 00:27:09,760 --> 00:27:13,040 Speaker 1: say who has it, how or or how they use it. 569 00:27:13,160 --> 00:27:14,800 Speaker 1: That's an important piece. I want to come back. I 570 00:27:14,840 --> 00:27:16,400 Speaker 1: want to talk about that and a couple other things 571 00:27:16,440 --> 00:27:19,240 Speaker 1: that Jordan Peterson said that some of his big AHA moments, 572 00:27:19,240 --> 00:27:21,359 Speaker 1: because I think maybe the people listening we'll have some 573 00:27:21,400 --> 00:27:23,400 Speaker 1: more of those aha moments as well. If you're listening 574 00:27:23,400 --> 00:27:25,239 Speaker 1: to the Mark mos Show, we're talking about bitcoin and 575 00:27:26,000 --> 00:27:29,680 Speaker 1: cryptocurrencies and of course this giant decentralized revolution. I'm with 576 00:27:29,840 --> 00:27:33,520 Speaker 1: Miss Justine Hotel. Miss Hotel, I'm sorry, Justine Harper. UM. 577 00:27:33,680 --> 00:27:36,320 Speaker 1: We're talking about bitcoin and we will be right back. 578 00:27:36,840 --> 00:27:38,680 Speaker 1: All right, welcome back. You are listening to the Mark 579 00:27:38,760 --> 00:27:41,879 Speaker 1: Moa Show and we're talking about bitcoin and cryptocurrencies and 580 00:27:41,920 --> 00:27:46,360 Speaker 1: the decentralized revolution. I'm in the studio with my good 581 00:27:46,359 --> 00:27:49,000 Speaker 1: friend Justine Harper. You can find her on Twitter at 582 00:27:49,119 --> 00:27:53,280 Speaker 1: miss Hotel. UM. Of course, I am one Mark Moss 583 00:27:53,280 --> 00:27:55,480 Speaker 1: on Twitter. Find us, follow us, shoot us a question, 584 00:27:55,560 --> 00:27:58,840 Speaker 1: tell us you heard us here. Justine worked for Unchained Capital, 585 00:27:58,840 --> 00:28:01,000 Speaker 1: which the company I used helped me secure my bitcoin. 586 00:28:01,080 --> 00:28:03,280 Speaker 1: We're talking about that in the earlier segment, but right 587 00:28:03,280 --> 00:28:06,240 Speaker 1: now we're talking about UM. One of the greatest thinkers 588 00:28:06,280 --> 00:28:09,760 Speaker 1: alive today, UM Jordan Peterson. UM was matched up with 589 00:28:10,080 --> 00:28:13,639 Speaker 1: another awesome great thinker, Safety UM, in the bitcoin space, 590 00:28:14,480 --> 00:28:17,199 Speaker 1: and it was really cool, Um to listen to some 591 00:28:17,280 --> 00:28:19,040 Speaker 1: of the experts and to order to watch it. If 592 00:28:19,040 --> 00:28:21,240 Speaker 1: you've got to do that, of what happened, because you're 593 00:28:21,280 --> 00:28:24,200 Speaker 1: watching Jordan Peterson this, you know, one of the smartest 594 00:28:24,240 --> 00:28:26,919 Speaker 1: guys in the world, but also still very curious. Um 595 00:28:27,000 --> 00:28:32,399 Speaker 1: kind of have these realizations and he said, like, Um, 596 00:28:32,440 --> 00:28:35,720 Speaker 1: from the mainstream perspective, money is the creation of the state. 597 00:28:35,800 --> 00:28:38,160 Speaker 1: Most people think, from the mainstream perspective that money is 598 00:28:38,200 --> 00:28:41,680 Speaker 1: the creation of the state, and the only question is 599 00:28:41,800 --> 00:28:45,400 Speaker 1: what is the state's role in the management of money? Right, 600 00:28:45,400 --> 00:28:48,440 Speaker 1: that's what safe safe said, but but from it. But 601 00:28:48,960 --> 00:28:51,840 Speaker 1: really money is the product of the market and not 602 00:28:52,080 --> 00:28:54,520 Speaker 1: the invention of the state. And I think that's one 603 00:28:54,560 --> 00:28:56,640 Speaker 1: thing that most people just have never really even taken 604 00:28:56,640 --> 00:28:59,360 Speaker 1: the time to think about. Like we just think like, well, 605 00:28:59,480 --> 00:29:02,280 Speaker 1: the government makes money, they print money, they control money, 606 00:29:02,320 --> 00:29:05,120 Speaker 1: they control interest rates, they control the supply, and we're 607 00:29:05,160 --> 00:29:08,720 Speaker 1: just victims along like a ship without a rudder, just 608 00:29:08,960 --> 00:29:11,040 Speaker 1: whatever they decided to do to us. But it's like, no, 609 00:29:12,240 --> 00:29:15,520 Speaker 1: that's not how it is. It's not how it should be, 610 00:29:15,560 --> 00:29:17,760 Speaker 1: and that's not how it has to be. And now 611 00:29:17,800 --> 00:29:20,800 Speaker 1: we have another option for that. Yeah, And I think 612 00:29:21,240 --> 00:29:23,959 Speaker 1: it's interesting to think about how they've kept it that way, right, 613 00:29:24,000 --> 00:29:26,320 Speaker 1: Like it takes a lot of energy and a lot 614 00:29:26,400 --> 00:29:30,800 Speaker 1: of effort to ensure that their money is what everyone's using, right, 615 00:29:30,840 --> 00:29:33,680 Speaker 1: that this is the the account that we're using, right, 616 00:29:33,760 --> 00:29:36,680 Speaker 1: the form of money that we're using. And yeah, I 617 00:29:36,680 --> 00:29:39,320 Speaker 1: mean money is just decided by the market. Whatever is 618 00:29:39,400 --> 00:29:42,800 Speaker 1: the most usable, whatever is the better store of value, 619 00:29:42,840 --> 00:29:46,960 Speaker 1: whatever is the better too easier to transact, whatever the 620 00:29:47,000 --> 00:29:50,840 Speaker 1: masses choose to use is essentially that's that's the history 621 00:29:50,840 --> 00:29:54,760 Speaker 1: of money, right is it's used as a transfer of wealth. Um. 622 00:29:54,960 --> 00:29:58,920 Speaker 1: So yeah, this idea that it's it's um produced by 623 00:29:58,960 --> 00:30:01,080 Speaker 1: the government and decide it by the government is something 624 00:30:01,120 --> 00:30:03,200 Speaker 1: I think we've all just sort of accepted, but we 625 00:30:03,240 --> 00:30:05,560 Speaker 1: don't have to, and I think that quite sort of 626 00:30:05,600 --> 00:30:10,240 Speaker 1: allows us to easily opt out of that, in my opinion, 627 00:30:10,640 --> 00:30:15,120 Speaker 1: very flawed structure and the idea of what money should 628 00:30:15,160 --> 00:30:19,200 Speaker 1: be today. Yeah, you know, one thing that the our 629 00:30:19,360 --> 00:30:22,560 Speaker 1: our leaders want to tell us, right is that you know, 630 00:30:22,640 --> 00:30:25,160 Speaker 1: we need to regulate it because if not, things could 631 00:30:25,160 --> 00:30:28,560 Speaker 1: get really bad. Um. People, But before the break, I 632 00:30:28,560 --> 00:30:31,360 Speaker 1: think you had said, um, we you know, we have 633 00:30:31,400 --> 00:30:33,560 Speaker 1: the money and we can use it however we want, right, 634 00:30:33,800 --> 00:30:36,200 Speaker 1: whoever whoever wants to use it. As you kind of reference, 635 00:30:36,240 --> 00:30:39,000 Speaker 1: in some countries women can't have bank accounts. Whoever wants it, 636 00:30:39,080 --> 00:30:42,360 Speaker 1: so women and however they want. And I think they 637 00:30:42,440 --> 00:30:44,880 Speaker 1: try to scare people by saying, oh, but terrorists are 638 00:30:44,880 --> 00:30:46,440 Speaker 1: going to use it, They're gonna use money for all 639 00:30:46,440 --> 00:30:50,520 Speaker 1: these really bad things, um, and and that could happen, right, 640 00:30:50,560 --> 00:30:52,840 Speaker 1: I mean that could happen. Um. But I think you 641 00:30:52,880 --> 00:30:55,760 Speaker 1: have to look at like a cost benefit analysis, right, So, like, um, 642 00:30:56,240 --> 00:30:59,160 Speaker 1: for the for the very few people that may potentially 643 00:30:59,160 --> 00:31:01,920 Speaker 1: do something bad with it, which will find another way anyway, 644 00:31:02,400 --> 00:31:04,960 Speaker 1: what's the greater good that could come from it, right 645 00:31:05,320 --> 00:31:08,520 Speaker 1: versus trying to prevent people from using it, which you 646 00:31:08,560 --> 00:31:11,360 Speaker 1: really can't anyway, and then you're penalizing everybody else on 647 00:31:11,400 --> 00:31:15,000 Speaker 1: top of it, right, I mean that's a massive difference. Yes, agree, 648 00:31:15,120 --> 00:31:17,800 Speaker 1: this is this is some of my favorite uh scare. 649 00:31:18,120 --> 00:31:21,680 Speaker 1: But um, you know, like like somehow people aren't using 650 00:31:21,720 --> 00:31:25,560 Speaker 1: dollars to do illegal things, right, Like like that's something 651 00:31:25,600 --> 00:31:28,880 Speaker 1: that we're supposed to believe that these things aren't used already. 652 00:31:28,920 --> 00:31:31,280 Speaker 1: So there was there was no crime before bitcoin, right 653 00:31:32,000 --> 00:31:34,440 Speaker 1: never never know, the dollars have never been used in 654 00:31:34,520 --> 00:31:37,760 Speaker 1: any sort of crime whatsoever. They're totally it's totally regulated. 655 00:31:38,160 --> 00:31:39,960 Speaker 1: But yeah, so I think it's sort of laughable. But 656 00:31:40,040 --> 00:31:41,800 Speaker 1: I think this is one of those things where people 657 00:31:41,960 --> 00:31:44,600 Speaker 1: use here to try to direct people in the way 658 00:31:44,600 --> 00:31:46,120 Speaker 1: that they want them to go. And this is one 659 00:31:46,160 --> 00:31:48,680 Speaker 1: of those things. And yes, I mean there will be 660 00:31:48,800 --> 00:31:51,960 Speaker 1: a legal activity that happens in the form of bitcoin, right, 661 00:31:52,000 --> 00:31:55,800 Speaker 1: we're using bitcoin is the money to pay for that, um. 662 00:31:55,840 --> 00:31:58,520 Speaker 1: But if we we go to a place where now 663 00:31:58,600 --> 00:32:02,120 Speaker 1: we get to decide who uses this form of money, well, 664 00:32:02,160 --> 00:32:04,760 Speaker 1: then who gets to decide and who decides what's right 665 00:32:04,800 --> 00:32:07,000 Speaker 1: and wrong? And now we're back to where we are now, 666 00:32:07,040 --> 00:32:12,520 Speaker 1: where we have um, you know, tyrants and government entities 667 00:32:12,560 --> 00:32:16,480 Speaker 1: sort of discriminating against people by not allowing them to 668 00:32:16,600 --> 00:32:20,120 Speaker 1: have access to banking facilities. And so I think that 669 00:32:20,160 --> 00:32:22,360 Speaker 1: it's just a really dangerous slope that you go down. 670 00:32:22,400 --> 00:32:23,960 Speaker 1: And I do agree with what he said that there's 671 00:32:24,000 --> 00:32:25,960 Speaker 1: trade offs for everything. There's a balance of pros and 672 00:32:26,000 --> 00:32:30,719 Speaker 1: cons and allowing anyone to transact is much more beneficial 673 00:32:30,800 --> 00:32:34,520 Speaker 1: than the idea that okay, somebody might use it illegally. Yeah, 674 00:32:34,600 --> 00:32:36,760 Speaker 1: they used dollars for that. I I just it's it's 675 00:32:36,800 --> 00:32:38,760 Speaker 1: one of those things where it's like on the if 676 00:32:38,760 --> 00:32:41,360 Speaker 1: nobody is familiar with the fud dice Nick Carter came 677 00:32:41,400 --> 00:32:43,280 Speaker 1: up with some dice that essentially have all of these 678 00:32:43,320 --> 00:32:45,280 Speaker 1: like different sides of fud that kind of come up 679 00:32:45,320 --> 00:32:47,840 Speaker 1: over and over again and are shot down, but they 680 00:32:47,880 --> 00:32:50,560 Speaker 1: are reoccurring. But so this is one of those, and 681 00:32:50,600 --> 00:32:52,560 Speaker 1: I think it is scary for people to think of. 682 00:32:52,600 --> 00:32:54,520 Speaker 1: But when you zoom out and think about how our 683 00:32:54,520 --> 00:32:58,520 Speaker 1: current financial system works and think about the laws and 684 00:32:58,600 --> 00:33:01,880 Speaker 1: having a system that can be controlled by centralized entity 685 00:33:01,960 --> 00:33:04,120 Speaker 1: and people can be cut off for it for whatever 686 00:33:04,160 --> 00:33:07,680 Speaker 1: reason they choose, Right, that's that's just not that's not 687 00:33:07,720 --> 00:33:11,920 Speaker 1: positive for humanity. Um. It doesn't work out for the masses. Um. 688 00:33:11,960 --> 00:33:15,400 Speaker 1: And in my opinion, it just leads to discrimination through 689 00:33:15,440 --> 00:33:18,880 Speaker 1: a financial system and essentially control. You know, people are 690 00:33:18,880 --> 00:33:23,200 Speaker 1: controlled by their money, which is yeah, something I really 691 00:33:23,200 --> 00:33:25,240 Speaker 1: think we have the chance that your away from the 692 00:33:25,320 --> 00:33:27,840 Speaker 1: fiat money system. I think Jimmy Song put it in 693 00:33:27,840 --> 00:33:30,320 Speaker 1: this book Thank God for Bitcoin is another good book 694 00:33:30,320 --> 00:33:32,400 Speaker 1: you should probably all go read, and he talked about 695 00:33:32,440 --> 00:33:34,960 Speaker 1: how people think that money is neutral, it's a tool 696 00:33:35,120 --> 00:33:36,880 Speaker 1: can be used for good or bad. But but fiat 697 00:33:36,880 --> 00:33:40,160 Speaker 1: money is not that. It's actually a system built on theft, 698 00:33:40,280 --> 00:33:43,000 Speaker 1: which inflation is theft. It's a system built on lies 699 00:33:43,040 --> 00:33:45,040 Speaker 1: and deceit because they don't tell us what they're doing, 700 00:33:45,080 --> 00:33:46,280 Speaker 1: they don't tell us how much there is. So it's 701 00:33:46,320 --> 00:33:47,920 Speaker 1: a system built on theft, lies in the cit and 702 00:33:47,960 --> 00:33:52,000 Speaker 1: so anything built on that is inherently evil and incentivizes 703 00:33:52,760 --> 00:33:57,080 Speaker 1: evil behavior, incentivizes people to to to steal and and 704 00:33:57,120 --> 00:34:00,560 Speaker 1: to lie and to see etcetera. And so maybe a 705 00:34:00,640 --> 00:34:03,600 Speaker 1: lot of the stuff they're trying to protect us from 706 00:34:03,720 --> 00:34:05,840 Speaker 1: wouldn't really even be that big of a deal if 707 00:34:05,880 --> 00:34:08,080 Speaker 1: we had an honest system that we could build the 708 00:34:08,120 --> 00:34:12,640 Speaker 1: world off of, um like almost And to your point, 709 00:34:12,719 --> 00:34:15,840 Speaker 1: I mean, those people could use bitcoin, but they probably 710 00:34:16,200 --> 00:34:18,799 Speaker 1: drove a car too. Could the car have been you know, 711 00:34:19,120 --> 00:34:22,000 Speaker 1: they probably drink waters water bad too, right, Like I mean, 712 00:34:22,440 --> 00:34:24,560 Speaker 1: like how far do you want to go? They breathe? There? 713 00:34:24,600 --> 00:34:28,080 Speaker 1: Should we ban air to you know, like all those things? 714 00:34:28,360 --> 00:34:32,319 Speaker 1: It's just yeah, yeah, I mean all those things have 715 00:34:32,480 --> 00:34:35,759 Speaker 1: But but you wouldn't ban air because everybody needs air 716 00:34:35,960 --> 00:34:38,359 Speaker 1: and air is better because we can live with air. 717 00:34:38,400 --> 00:34:40,160 Speaker 1: So we'll have to do the trade offs. And and 718 00:34:40,360 --> 00:34:43,160 Speaker 1: I guess the same you could say about having honest money, 719 00:34:43,200 --> 00:34:46,160 Speaker 1: like an honest system of of ledger that people couldn't 720 00:34:46,160 --> 00:34:52,439 Speaker 1: control UM so anyway, no, for sure, And I think 721 00:34:52,440 --> 00:34:54,640 Speaker 1: that's one of those things that it's a nutrient and 722 00:34:54,680 --> 00:34:56,319 Speaker 1: we could dig into this. I know we could dig 723 00:34:56,360 --> 00:34:58,759 Speaker 1: into this for a whild market. But if we start 724 00:34:58,800 --> 00:35:01,239 Speaker 1: to think about how the dollar as used and what 725 00:35:01,280 --> 00:35:04,879 Speaker 1: we as taxpayers fund, I mean, are we as individuals 726 00:35:04,920 --> 00:35:09,000 Speaker 1: okay with all of the the how government is spending 727 00:35:09,040 --> 00:35:11,480 Speaker 1: our funds? And I just mean, like what countries have 728 00:35:11,600 --> 00:35:14,160 Speaker 1: we bonded this bomb this week? Right? Like? What have 729 00:35:14,280 --> 00:35:18,680 Speaker 1: we paid for that was extremely evil? Um? And does 730 00:35:18,760 --> 00:35:22,000 Speaker 1: nobody question how their dollars are used? And so anytime 731 00:35:22,040 --> 00:35:23,480 Speaker 1: that comes up, they think it's one of those things 732 00:35:23,480 --> 00:35:25,319 Speaker 1: that it's really easy to scare people in that way. 733 00:35:25,320 --> 00:35:26,799 Speaker 1: But if you just take a few minutes to kind 734 00:35:26,800 --> 00:35:29,799 Speaker 1: of zoom out, you realize really quickly why that's not 735 00:35:29,880 --> 00:35:32,719 Speaker 1: really a concern and it's actually a benefit of the 736 00:35:32,760 --> 00:35:36,480 Speaker 1: network that nobody can decide you as an individual are 737 00:35:36,560 --> 00:35:40,120 Speaker 1: now a trader or a quote unquote terrorists because you've 738 00:35:40,120 --> 00:35:42,680 Speaker 1: said something on social media that they didn't like and 739 00:35:42,920 --> 00:35:45,640 Speaker 1: cut you off from your assets. So, in my opinion, 740 00:35:45,680 --> 00:35:47,479 Speaker 1: is just a really dangerous lope that we've gone down. 741 00:35:47,520 --> 00:35:50,360 Speaker 1: And and I just yes, it's open to all and 742 00:35:50,440 --> 00:35:53,880 Speaker 1: that's beneficial. That's such a good point. Um, if you 743 00:35:53,920 --> 00:35:56,400 Speaker 1: think about, um, what is the dollar? What is what 744 00:35:56,440 --> 00:35:59,120 Speaker 1: does the dollar to allow? And so that's a great point. Um. 745 00:35:59,160 --> 00:36:01,120 Speaker 1: I saw some stuff just I think the last day 746 00:36:01,160 --> 00:36:03,480 Speaker 1: or two of what's going on with little girls in Afghanistan. 747 00:36:03,520 --> 00:36:05,759 Speaker 1: I'm not going to repeat it because it was I 748 00:36:05,800 --> 00:36:08,800 Speaker 1: have I have girls and it was just devastating. But 749 00:36:08,840 --> 00:36:10,799 Speaker 1: if you if you know what I'm talking about, I mean, 750 00:36:10,920 --> 00:36:12,640 Speaker 1: if you saw what's going on Afghanistan with the little 751 00:36:12,640 --> 00:36:15,520 Speaker 1: girls right now this week today, Um, and that's because 752 00:36:15,560 --> 00:36:17,080 Speaker 1: of what the US has been doing in there with 753 00:36:17,120 --> 00:36:20,600 Speaker 1: their dollars, you know. And uh, it's if you want 754 00:36:20,600 --> 00:36:22,839 Speaker 1: to start looking at cost benefit analysis, I think it's 755 00:36:22,840 --> 00:36:25,440 Speaker 1: easy to see what happens when to to your point, 756 00:36:25,560 --> 00:36:28,320 Speaker 1: Justine or your word of tyrants, um end up with 757 00:36:28,360 --> 00:36:31,480 Speaker 1: an unlimited money supply and can manipulate everything, I mean, 758 00:36:31,960 --> 00:36:35,360 Speaker 1: lockdowns and everything. Everything happens because of that money printer. 759 00:36:35,400 --> 00:36:38,400 Speaker 1: And so that's what bitcoin is doing. Um, it's separating money, 760 00:36:38,560 --> 00:36:41,440 Speaker 1: money and state, and uh it's it's something much bigger. 761 00:36:41,960 --> 00:36:43,879 Speaker 1: By the way, you're listening to the Mark Moss Show, 762 00:36:44,560 --> 00:36:46,000 Speaker 1: if you haven't guests by now. Of course we're talking 763 00:36:46,040 --> 00:36:48,879 Speaker 1: about bitcoin, we're talking about removing money and state. We're 764 00:36:48,880 --> 00:36:51,640 Speaker 1: talking about the decentralized revolution. That's here. I'm in the 765 00:36:51,680 --> 00:36:55,000 Speaker 1: studio with Justine Harper. You can find her on Twitter 766 00:36:55,280 --> 00:36:59,560 Speaker 1: at miss Tootal. That's ms h O D l Um. 767 00:36:59,600 --> 00:37:02,120 Speaker 1: Of course I'm one Mark Moss. She works at Unchained 768 00:37:02,160 --> 00:37:05,040 Speaker 1: Capital if you want to check them out. And that's it. 769 00:37:05,239 --> 00:37:06,800 Speaker 1: Thank you so much for listening.