1 00:00:00,000 --> 00:00:02,360 Speaker 1: Hello, and welcome back to another episode of the Markmas Show, 2 00:00:02,360 --> 00:00:06,120 Speaker 1: where we talk about the decentralized revolution that the world 3 00:00:06,160 --> 00:00:08,000 Speaker 1: is going through right now, and we talk about it 4 00:00:08,000 --> 00:00:13,000 Speaker 1: through the lens of technology that's always changed the course 5 00:00:13,080 --> 00:00:17,040 Speaker 1: of humanity. Of course, we're talking about the bitcoin technology, 6 00:00:17,239 --> 00:00:20,120 Speaker 1: the decentralized technologies changing the world, and we're looking at 7 00:00:20,160 --> 00:00:22,720 Speaker 1: through the lens of politics, finance, and technology to try 8 00:00:22,760 --> 00:00:27,960 Speaker 1: to bring context to what is going on. And there's 9 00:00:27,960 --> 00:00:29,920 Speaker 1: a lot of stuff going on, that is for sure. 10 00:00:30,440 --> 00:00:32,440 Speaker 1: You know. We're seeing at a time where we have 11 00:00:33,640 --> 00:00:37,880 Speaker 1: inflation raging to all newtime highs UM. At the same 12 00:00:37,920 --> 00:00:40,879 Speaker 1: time we have like record amount of job quits going on, 13 00:00:41,000 --> 00:00:45,479 Speaker 1: which is just crazy. Um. And then for the kind 14 00:00:45,520 --> 00:00:49,120 Speaker 1: of the first time in my life or like potentially 15 00:00:49,159 --> 00:00:52,720 Speaker 1: dealing with like a threat of nuclear war, we have 16 00:00:53,760 --> 00:00:58,440 Speaker 1: food food shortages and famine being forecast um, which is 17 00:00:58,480 --> 00:01:01,000 Speaker 1: just insane to me. Energy christ is going on, I mean, 18 00:01:01,080 --> 00:01:04,880 Speaker 1: you name it. And as wild and crazy as this 19 00:01:05,080 --> 00:01:08,720 Speaker 1: all sounds and it is, um, it's all part of 20 00:01:08,760 --> 00:01:12,720 Speaker 1: these uh decentralized revolutions that happened right now and right here, 21 00:01:13,200 --> 00:01:15,800 Speaker 1: and and as as big and as bad and as 22 00:01:15,880 --> 00:01:18,840 Speaker 1: dangerous and as scary as as this all is, and 23 00:01:18,959 --> 00:01:25,080 Speaker 1: it is as much uncertainty as we have about the future. Um, 24 00:01:25,160 --> 00:01:28,920 Speaker 1: we need to try to bring back some certainty back, right. 25 00:01:29,160 --> 00:01:30,800 Speaker 1: And we know when we go back and we look 26 00:01:30,840 --> 00:01:33,080 Speaker 1: through history, which if you're tune into me on a 27 00:01:33,080 --> 00:01:35,319 Speaker 1: regular basis, you know I love history. If we go 28 00:01:35,319 --> 00:01:37,920 Speaker 1: back and we look at this from mystical standpoint, I mean, 29 00:01:37,959 --> 00:01:41,680 Speaker 1: we hit these periods of volatility of uncertainty when the 30 00:01:41,720 --> 00:01:44,959 Speaker 1: world changes. So as we go through these revolutionary periods, 31 00:01:45,000 --> 00:01:48,880 Speaker 1: the world changes. Um. The good part, well, the good 32 00:01:48,960 --> 00:01:51,280 Speaker 1: the good part is that it doesn't last a long time. 33 00:01:51,440 --> 00:01:54,480 Speaker 1: It doesn't last forever, right, So the world gets volatile 34 00:01:54,960 --> 00:01:59,040 Speaker 1: and the world changes, and then we find whatever is 35 00:01:59,040 --> 00:02:03,640 Speaker 1: a new normal. Um. I for one believe that this 36 00:02:03,880 --> 00:02:06,600 Speaker 1: technological revolution that we're facing right now with bick Woine 37 00:02:07,560 --> 00:02:09,360 Speaker 1: is here to stay. And men go into that. And 38 00:02:09,360 --> 00:02:12,160 Speaker 1: that's in deep detail. But I think it's one of 39 00:02:12,160 --> 00:02:15,600 Speaker 1: the best risk adjusted investments I've ever seen in my career. 40 00:02:15,680 --> 00:02:18,120 Speaker 1: And I can tell you that I believe that buying 41 00:02:18,160 --> 00:02:24,239 Speaker 1: it now today at about approximates is a better entry 42 00:02:25,320 --> 00:02:28,200 Speaker 1: then when I started buying it in at three hundred 43 00:02:28,200 --> 00:02:33,959 Speaker 1: dollars and you might say, how is that possible? Mark, 44 00:02:34,040 --> 00:02:35,880 Speaker 1: you were buying a three hundred that was obviously way 45 00:02:35,880 --> 00:02:38,640 Speaker 1: better than buying it thirty. And if you look at 46 00:02:38,720 --> 00:02:41,880 Speaker 1: just the sheer numbers, that's true. However, you should never 47 00:02:41,919 --> 00:02:45,320 Speaker 1: be looking at any type of investment from the sheer numbers, right. 48 00:02:45,320 --> 00:02:47,520 Speaker 1: You're trying to look at a bunch of different information 49 00:02:47,639 --> 00:02:52,120 Speaker 1: to make a good decision. And what most people get wrong, 50 00:02:52,520 --> 00:02:54,440 Speaker 1: and this is why most people lose money. Well most 51 00:02:54,480 --> 00:02:57,400 Speaker 1: people get wrong is they look at how much can 52 00:02:57,440 --> 00:03:00,639 Speaker 1: I make? I want that next hot tip, I want 53 00:03:00,680 --> 00:03:03,720 Speaker 1: this next options trade, what's the next cryptocurrency, what's the 54 00:03:03,760 --> 00:03:05,519 Speaker 1: next thing that can make me a bunch of money? 55 00:03:05,520 --> 00:03:07,160 Speaker 1: And they focus on how much they can make, what 56 00:03:07,200 --> 00:03:12,480 Speaker 1: the profit potential is. Real investors, professional investors, they don't 57 00:03:12,480 --> 00:03:14,560 Speaker 1: look at that. They do, they look at that, but 58 00:03:14,600 --> 00:03:17,000 Speaker 1: they also look at how much can I lose? What's 59 00:03:17,040 --> 00:03:20,600 Speaker 1: my risk? Warren Buffets that the most important rule investing 60 00:03:20,680 --> 00:03:22,760 Speaker 1: is to never lose money. The second most important rule 61 00:03:22,800 --> 00:03:25,560 Speaker 1: is to don't forget number one. Don't lose money. Now, 62 00:03:25,560 --> 00:03:27,600 Speaker 1: it's not that's not to say that's everybody loses money. 63 00:03:27,639 --> 00:03:29,919 Speaker 1: Warm Buffets lost a lot of money, but you never 64 00:03:30,080 --> 00:03:32,360 Speaker 1: want to lose money, and so you're always focused on 65 00:03:32,400 --> 00:03:36,680 Speaker 1: that first, not how much you're making money. You have 66 00:03:36,720 --> 00:03:40,440 Speaker 1: to understand that your life is a long should be, 67 00:03:40,480 --> 00:03:43,640 Speaker 1: hopefully will be a long term game. Right. It's like 68 00:03:43,680 --> 00:03:47,000 Speaker 1: a marathon. It's not I have twelve hours in the casino. 69 00:03:47,040 --> 00:03:49,200 Speaker 1: I'm in Vegas on a on a plane. I'm gonna 70 00:03:49,280 --> 00:03:50,920 Speaker 1: layover on my plan. I'm gonna go play the casinos 71 00:03:50,920 --> 00:03:52,440 Speaker 1: for twelve hours, make as much as I can. Know 72 00:03:53,120 --> 00:03:55,320 Speaker 1: it's your whole life, and so instead of trying to 73 00:03:55,760 --> 00:03:58,760 Speaker 1: retire off of every single trade, it's about making money 74 00:03:58,760 --> 00:04:04,280 Speaker 1: consistently over time out losing big um. Being an entrepreneur 75 00:04:04,280 --> 00:04:06,920 Speaker 1: and being an investor or sort of like being a gladiator. 76 00:04:07,800 --> 00:04:11,920 Speaker 1: What does that mean? That means the more you do it, 77 00:04:12,040 --> 00:04:15,200 Speaker 1: the more likely you are to die, right, And so 78 00:04:15,320 --> 00:04:17,599 Speaker 1: the goal is to not die. You don't want to die. 79 00:04:17,600 --> 00:04:19,440 Speaker 1: And so you could be the best investor in the world. 80 00:04:19,480 --> 00:04:21,520 Speaker 1: I mean you could win and win and win and 81 00:04:21,560 --> 00:04:24,640 Speaker 1: win and win and win and win for decades and 82 00:04:24,680 --> 00:04:26,240 Speaker 1: then one or two bad decisions and you could be 83 00:04:26,240 --> 00:04:28,120 Speaker 1: wiped out. You could die. You could be the best 84 00:04:28,120 --> 00:04:29,960 Speaker 1: gladiator forever. And then you meet one opponent and they 85 00:04:30,040 --> 00:04:32,599 Speaker 1: kill you, and so you want to be careful about that. 86 00:04:32,640 --> 00:04:35,680 Speaker 1: And so back to this risk adjusted trade. So the bitcoin, 87 00:04:35,720 --> 00:04:39,719 Speaker 1: I believe it's a better entry today than it was then. 88 00:04:39,760 --> 00:04:42,120 Speaker 1: And the reason why it's because of the risk. So 89 00:04:42,960 --> 00:04:46,120 Speaker 1: there was so much risk. So on a risk adjusted basis, 90 00:04:47,480 --> 00:04:52,360 Speaker 1: I mean bitcoin had had this rise, nobody knew it was. 91 00:04:53,600 --> 00:04:56,320 Speaker 1: Um it ran up to about a thousand dollars, which 92 00:04:56,360 --> 00:04:58,400 Speaker 1: was amazing. It caught my attention, maybe I should buy it, 93 00:04:58,760 --> 00:05:01,040 Speaker 1: and then it crashed all the down right, and it 94 00:05:02,240 --> 00:05:04,839 Speaker 1: was three bucks. It was way down off of where 95 00:05:04,839 --> 00:05:07,480 Speaker 1: it's high was. Um. It was so new, we didn't 96 00:05:07,480 --> 00:05:09,040 Speaker 1: know what it was, and what is this thing? And 97 00:05:09,080 --> 00:05:12,040 Speaker 1: will it work well? Won't What about all these other cryptocurrencies, 98 00:05:12,160 --> 00:05:15,239 Speaker 1: what about the blockchain, whether when the government's make it legal? 99 00:05:15,560 --> 00:05:19,359 Speaker 1: There's all these risks And so even though I can 100 00:05:19,400 --> 00:05:21,400 Speaker 1: buy it for three dollars, I couldn't put that much 101 00:05:21,440 --> 00:05:25,560 Speaker 1: money into it because it was too risky. Whereas today 102 00:05:25,560 --> 00:05:27,760 Speaker 1: we're at a point where I think almost all the 103 00:05:27,880 --> 00:05:32,800 Speaker 1: risk is out. It's we don't know the future, nothing 104 00:05:32,839 --> 00:05:35,440 Speaker 1: is unson certain, but almost all the risk is out 105 00:05:35,680 --> 00:05:39,080 Speaker 1: and it's more inevitable, it's more certain today, way more 106 00:05:39,120 --> 00:05:41,680 Speaker 1: certain today than it was in which means I can 107 00:05:41,720 --> 00:05:45,400 Speaker 1: put way more money in today. However, even though it's 108 00:05:45,400 --> 00:05:49,400 Speaker 1: at three thousand, we still have an amazing risk return profile. 109 00:05:49,520 --> 00:05:52,720 Speaker 1: So very quickly I could run through the math and 110 00:05:52,800 --> 00:05:56,400 Speaker 1: we could see bitcoin rise to a million dollars or coin. 111 00:05:57,040 --> 00:06:02,240 Speaker 1: That's a twenty x upside we have. I mean, it 112 00:06:02,279 --> 00:06:05,080 Speaker 1: could go to zero. The chance of the happening is 113 00:06:06,080 --> 00:06:08,760 Speaker 1: barely above zero, but it could. So I have a 114 00:06:08,880 --> 00:06:14,919 Speaker 1: one time's downside with a twenty times upside. That's pretty 115 00:06:14,960 --> 00:06:17,760 Speaker 1: damn good odds odds. I'll take those odds. But it 116 00:06:17,760 --> 00:06:20,280 Speaker 1: gets even better than that. So really, if we look 117 00:06:20,320 --> 00:06:23,080 Speaker 1: at bitcoin, um, it's risen and fallen, risen and fall 118 00:06:23,120 --> 00:06:25,720 Speaker 1: and talked about it falling from a thousand to three. Um, 119 00:06:25,760 --> 00:06:27,720 Speaker 1: if you look at it, really bitcoin that hasn't really 120 00:06:27,720 --> 00:06:30,600 Speaker 1: fallen more than about eight percent from its high, and 121 00:06:30,640 --> 00:06:33,080 Speaker 1: so we're down. If we look at from its high 122 00:06:33,160 --> 00:06:35,599 Speaker 1: in November of last year to where it's at now, 123 00:06:36,760 --> 00:06:39,320 Speaker 1: we don't have a d percent to that level. To 124 00:06:39,360 --> 00:06:41,080 Speaker 1: get to the decline, I think it would get to 125 00:06:41,120 --> 00:06:43,360 Speaker 1: about eighteen thousand. Half off the top of my head, 126 00:06:43,520 --> 00:06:45,560 Speaker 1: but about eighteen thousand, So really you could buy it 127 00:06:45,640 --> 00:06:48,599 Speaker 1: at thirty thousand and say maybe lose half. So maybe 128 00:06:48,640 --> 00:06:51,799 Speaker 1: you lose half of it now could go to zero, 129 00:06:51,880 --> 00:06:54,480 Speaker 1: but this is not likely. So let's say you have 130 00:06:54,600 --> 00:07:01,159 Speaker 1: a zero point zero five downside with a twenty two 131 00:07:01,160 --> 00:07:04,320 Speaker 1: times upside. We'll shoot that's pretty attractive. So it's a 132 00:07:04,360 --> 00:07:07,279 Speaker 1: better risk adjested entry. So because of the risk and 133 00:07:07,400 --> 00:07:09,640 Speaker 1: return profile, I can put way more money into it 134 00:07:09,680 --> 00:07:12,040 Speaker 1: today than I could have before. The other thing that 135 00:07:12,080 --> 00:07:14,560 Speaker 1: we know through time is that bitcoin has been the 136 00:07:14,600 --> 00:07:16,840 Speaker 1: best performing asset in history. Now, history is now never 137 00:07:16,840 --> 00:07:19,800 Speaker 1: a guarantee of return, but it's been averaging about two 138 00:07:20,640 --> 00:07:23,000 Speaker 1: annual compounding growth rate. If you zoom out, it's up 139 00:07:23,000 --> 00:07:25,760 Speaker 1: about two in the last twenty four months alone. And 140 00:07:25,800 --> 00:07:27,160 Speaker 1: so because of that, it's one of those assets you 141 00:07:27,200 --> 00:07:28,800 Speaker 1: want to buy and you want to hold. And it's 142 00:07:28,800 --> 00:07:31,000 Speaker 1: also why more people in the United States than ever 143 00:07:31,640 --> 00:07:35,080 Speaker 1: are turning into bitcoin and cryptocurrencies to help fund their retirement. 144 00:07:36,080 --> 00:07:39,320 Speaker 1: Even in light of this recent market crash that we have, 145 00:07:39,360 --> 00:07:42,600 Speaker 1: and I talked about Fidelity, they are now allowing people 146 00:07:42,600 --> 00:07:44,160 Speaker 1: to take their four O one case and put it 147 00:07:44,240 --> 00:07:47,320 Speaker 1: into bitcoin. Uh, and it's happening in fast We can 148 00:07:47,360 --> 00:07:50,760 Speaker 1: see some twenty percent of Americans aged eighteen to sixty. 149 00:07:51,360 --> 00:07:54,840 Speaker 1: Around fifty million people have owned or traded crypto in 150 00:07:54,880 --> 00:07:57,800 Speaker 1: the past six months, according to a poll published by 151 00:07:57,800 --> 00:08:02,000 Speaker 1: the crypto exchange coo cooin Um. Yet older folks are 152 00:08:02,000 --> 00:08:05,040 Speaker 1: more devoted to the young asset class than the general population, 153 00:08:05,520 --> 00:08:07,400 Speaker 1: according to the survey carried out at the end of March, 154 00:08:07,440 --> 00:08:10,480 Speaker 1: with of those age fifty and above but no crypto 155 00:08:10,640 --> 00:08:13,800 Speaker 1: as part of the early retirement plans. So even of 156 00:08:13,840 --> 00:08:16,800 Speaker 1: the people over fifty years old, twenty of them are 157 00:08:16,880 --> 00:08:21,760 Speaker 1: still putting bitcoin into the retirement plans. It's that important. Now. 158 00:08:21,760 --> 00:08:23,400 Speaker 1: There's a couple ways to do that. Of course, obviously 159 00:08:23,440 --> 00:08:25,520 Speaker 1: you can uh just go out and buy it all 160 00:08:25,520 --> 00:08:27,239 Speaker 1: at once. If you have money you have a hundred 161 00:08:27,280 --> 00:08:29,200 Speaker 1: thousands to put it in there, or you could put 162 00:08:29,240 --> 00:08:32,640 Speaker 1: it in over time. It's called dollar cost averaging. Two 163 00:08:32,640 --> 00:08:36,199 Speaker 1: different strategies. And it depends on where you see the future. 164 00:08:36,679 --> 00:08:38,720 Speaker 1: If if you're one of those people who think, should 165 00:08:38,760 --> 00:08:40,480 Speaker 1: I buy it all now or should I wait because 166 00:08:40,520 --> 00:08:42,880 Speaker 1: I'm afraid the price will drop even more, well where 167 00:08:42,880 --> 00:08:46,520 Speaker 1: would the price drop to. Well, historically it probably wouldn't 168 00:08:46,600 --> 00:08:51,840 Speaker 1: drop below about eighteen thousand, Uh even better, Probably twenty 169 00:08:51,920 --> 00:08:53,880 Speaker 1: two thousand might be the low for the cycle. Now, 170 00:08:53,920 --> 00:08:57,600 Speaker 1: anything can happen, right, anything could happen. Um, so could 171 00:08:57,600 --> 00:08:59,400 Speaker 1: it dropped there? It could? And so if you're one 172 00:08:59,400 --> 00:09:00,960 Speaker 1: of those people who want to wait for maybe that 173 00:09:00,960 --> 00:09:02,720 Speaker 1: to happen, well, then maybe what you want to do 174 00:09:03,600 --> 00:09:05,480 Speaker 1: is dollar cost average and maybe put a little bit 175 00:09:05,520 --> 00:09:08,600 Speaker 1: of your money in now in case. Uh, But then 176 00:09:08,640 --> 00:09:10,160 Speaker 1: in case it keeps going down, you can keep buying 177 00:09:10,200 --> 00:09:12,280 Speaker 1: more and you can average in as it goes down. 178 00:09:12,280 --> 00:09:13,960 Speaker 1: But if it turns around and just goes up from here, 179 00:09:13,960 --> 00:09:16,439 Speaker 1: at least you bought some at the lower price. You 180 00:09:16,520 --> 00:09:19,439 Speaker 1: listen to the Mark Ma Show talking about the Decentralized Revolution, 181 00:09:19,480 --> 00:09:22,040 Speaker 1: talking about the way the world is changing with bitcoin 182 00:09:22,080 --> 00:09:24,440 Speaker 1: and crypto. I'll be right back, all right, welcome back. 183 00:09:24,480 --> 00:09:26,520 Speaker 1: You're listening to the Markma Show. We're talking about the 184 00:09:26,559 --> 00:09:29,680 Speaker 1: decentralized Revolution each and every week, talking about the way 185 00:09:29,760 --> 00:09:32,720 Speaker 1: bitcoin and cryptocurrencies are changing the world looking at through 186 00:09:32,720 --> 00:09:36,240 Speaker 1: the lens of politics, technology, and finance. And we were 187 00:09:36,240 --> 00:09:38,560 Speaker 1: talking a lot about obviously, we talking a lot about 188 00:09:38,559 --> 00:09:42,120 Speaker 1: bitcoin and some of the cryptocurrency overall. And I've been 189 00:09:42,120 --> 00:09:44,559 Speaker 1: talking a lot about this big blow up in the 190 00:09:44,559 --> 00:09:47,960 Speaker 1: stable coin market with Tera Luna UM we talked about 191 00:09:48,000 --> 00:09:51,880 Speaker 1: how unfortunately people are losing their life savings and things 192 00:09:51,920 --> 00:09:54,760 Speaker 1: like this UM other stable coins that are trying to 193 00:09:54,760 --> 00:09:57,200 Speaker 1: do some other algorithmic thing and their peg to this 194 00:09:57,240 --> 00:10:01,520 Speaker 1: asset or this asset or whatever. Calm plex things, complex 195 00:10:01,559 --> 00:10:06,000 Speaker 1: things that are untried, untested, likely to fail, and no 196 00:10:06,040 --> 00:10:08,000 Speaker 1: one should ever be put in their life savings into 197 00:10:08,040 --> 00:10:10,080 Speaker 1: these things. And of course people are. They're losing their 198 00:10:10,080 --> 00:10:13,360 Speaker 1: money unfortunately. I've even heard of people committing suicide. Lots 199 00:10:13,400 --> 00:10:17,800 Speaker 1: of lawsuits piling up over this, and we talked about 200 00:10:17,840 --> 00:10:22,160 Speaker 1: these lawsuits before and and uh, I think people want 201 00:10:22,200 --> 00:10:23,920 Speaker 1: the freedom, but they don't want the responsibility, and you 202 00:10:23,960 --> 00:10:27,960 Speaker 1: have to take both. But at the same time, I 203 00:10:28,000 --> 00:10:31,599 Speaker 1: don't like to throw the word around, you know, scam 204 00:10:31,720 --> 00:10:33,960 Speaker 1: or fraud. I don't like to throw that word around lightly. 205 00:10:34,200 --> 00:10:36,040 Speaker 1: I like to I like to use the word for 206 00:10:36,080 --> 00:10:39,880 Speaker 1: what it's intended for. You know, if I buy something 207 00:10:40,559 --> 00:10:43,520 Speaker 1: and you give me something other than what you promised, 208 00:10:43,600 --> 00:10:45,320 Speaker 1: that would be a scam or that would be a fraud. 209 00:10:46,160 --> 00:10:48,920 Speaker 1: And I've talked about before UM. A lot of these 210 00:10:48,960 --> 00:10:53,240 Speaker 1: other cryptocurrencies are a scam and they are a fraud. 211 00:10:53,880 --> 00:10:57,200 Speaker 1: And the reason why I can say that and I 212 00:10:57,200 --> 00:11:01,280 Speaker 1: can back that up is because they are delivering you 213 00:11:01,400 --> 00:11:04,520 Speaker 1: something other than what they've promised to be. A good 214 00:11:04,520 --> 00:11:09,720 Speaker 1: example of this is the newest, the hottest going cryptocurrency 215 00:11:09,720 --> 00:11:14,200 Speaker 1: blockchain out there, and that's Salana. Salana is the venture 216 00:11:14,280 --> 00:11:17,440 Speaker 1: capital Darling. Right, It's raised all this money every VC 217 00:11:17,640 --> 00:11:20,160 Speaker 1: wants to. Any project that's been built on Salona gets, 218 00:11:20,280 --> 00:11:23,520 Speaker 1: you know, hundreds of millions of dollars of funding. You know, 219 00:11:23,600 --> 00:11:25,800 Speaker 1: billions of dollars collectively been raised to invest in this 220 00:11:25,840 --> 00:11:35,800 Speaker 1: ecosystem into what? Into what ecosystem? Oh? Onto its decentralized blockchain. Okay, 221 00:11:35,840 --> 00:11:39,840 Speaker 1: but what if it's not decentralized? Oh? I know, Mark, Mark, 222 00:11:39,960 --> 00:11:41,760 Speaker 1: You're you're, you're you're starting fund right, you don't know 223 00:11:41,760 --> 00:11:46,520 Speaker 1: what you're talking about. Well, let's look at this. Uh 224 00:11:46,600 --> 00:11:48,800 Speaker 1: if we if we will have broken this down deeper before, 225 00:11:48,840 --> 00:11:50,120 Speaker 1: but I want to look at this this new story. 226 00:11:50,160 --> 00:11:55,400 Speaker 1: So this week we see Salana was halted again by 227 00:11:55,440 --> 00:11:58,640 Speaker 1: a bug this time. Alright, so it was halted? What 228 00:11:58,679 --> 00:12:01,720 Speaker 1: does this mean? The salat of network suffered its latest 229 00:12:01,720 --> 00:12:06,280 Speaker 1: outage Wednesday. It failed for over four hours by a 230 00:12:06,360 --> 00:12:08,760 Speaker 1: bug in how the blockchain process is a niche type 231 00:12:08,760 --> 00:12:14,200 Speaker 1: of transactions designed for offline use cases. So Salana Labs, 232 00:12:16,240 --> 00:12:20,320 Speaker 1: the communication chief, Austin Federa, told Coin Desk that those 233 00:12:20,320 --> 00:12:23,520 Speaker 1: transactions remain mixed until developers identified and patch the exact 234 00:12:23,520 --> 00:12:27,360 Speaker 1: culprit that through Salona's consensus mechanism off. So they had 235 00:12:27,400 --> 00:12:30,880 Speaker 1: to pause. They had they had one stop the transactions 236 00:12:31,880 --> 00:12:36,400 Speaker 1: and to shut down the entire blockchain. But wait a minute, 237 00:12:36,440 --> 00:12:39,760 Speaker 1: I thought it was decentralized. What does decentralized mean. Doesn't 238 00:12:39,760 --> 00:12:45,760 Speaker 1: decentralized mean that nobody controls it? Well, if nobody controls it, 239 00:12:45,760 --> 00:12:51,559 Speaker 1: then how does Salona Labs chief Austin get the developers 240 00:12:51,600 --> 00:12:54,959 Speaker 1: to stop processing transactions and shut down the whole network? 241 00:12:55,440 --> 00:12:57,520 Speaker 1: See how that works? Let me let me let me 242 00:12:57,600 --> 00:13:01,439 Speaker 1: let me back up a little bit. Here. We have databases. 243 00:13:02,160 --> 00:13:04,400 Speaker 1: We have lots of databases. The Internet has changed the 244 00:13:04,400 --> 00:13:07,160 Speaker 1: world and we have these computer databases and these the Internet, 245 00:13:07,440 --> 00:13:10,560 Speaker 1: uh can pullug in these databases. So Facebook has a 246 00:13:10,640 --> 00:13:13,400 Speaker 1: database and it's in their you know server farm, probably 247 00:13:13,400 --> 00:13:16,720 Speaker 1: in Menlo Park or whatever. Um and you have, you know, 248 00:13:16,800 --> 00:13:19,120 Speaker 1: Experience has this database and it's in their server. And 249 00:13:19,120 --> 00:13:21,880 Speaker 1: there's an I I T team that tries to secure 250 00:13:21,920 --> 00:13:25,520 Speaker 1: it and keep it secure, cybersecurity team, etcetera. And they 251 00:13:25,520 --> 00:13:27,880 Speaker 1: get hacked all the time, right, and so the cybersecurity 252 00:13:27,920 --> 00:13:30,040 Speaker 1: teams they can't keep it safe. Now, um, we have 253 00:13:30,120 --> 00:13:33,839 Speaker 1: a brand new technological revolution different than the technology. A 254 00:13:33,920 --> 00:13:36,960 Speaker 1: technology is something cool, like an iPhone. That's a new technology. 255 00:13:37,080 --> 00:13:38,920 Speaker 1: We took a computer, we took a phone, we put 256 00:13:38,960 --> 00:13:42,760 Speaker 1: them together. Cool. A technological revolution is something that changes 257 00:13:42,800 --> 00:13:47,160 Speaker 1: the course of humanity and drives financial markets. So there's 258 00:13:47,160 --> 00:13:51,360 Speaker 1: been five industrial revolution uh, steel, steam, steam engines, the railway, 259 00:13:51,440 --> 00:13:56,600 Speaker 1: steel electricity, oil, automobiles, mass production, and microprocessors. Each one 260 00:13:56,640 --> 00:13:58,680 Speaker 1: of those has driven financial markets. And here we are. 261 00:13:59,080 --> 00:14:02,480 Speaker 1: The new technology revolution is decentralization. So instead of having 262 00:14:02,600 --> 00:14:05,840 Speaker 1: centralized databases like Facebook or Experience that could hack all 263 00:14:05,840 --> 00:14:09,720 Speaker 1: the time, we have decentralized which means instead of one database, 264 00:14:10,160 --> 00:14:14,720 Speaker 1: there's thousands or millions of databases. And so instead of 265 00:14:14,920 --> 00:14:17,959 Speaker 1: one person or one company or one group controlling the 266 00:14:18,040 --> 00:14:23,800 Speaker 1: database the ledger, now nobody controls it because everybody controls it. 267 00:14:24,160 --> 00:14:26,440 Speaker 1: And in order for the network to change or proven 268 00:14:26,520 --> 00:14:29,960 Speaker 1: upgrade whatever, it has to achieve consensus. And that means 269 00:14:30,000 --> 00:14:33,280 Speaker 1: over half of the network has to agree. Now, if 270 00:14:33,520 --> 00:14:36,400 Speaker 1: we have three of these databases and I control all three, 271 00:14:36,720 --> 00:14:39,560 Speaker 1: is it really decentralized. If we have three and I 272 00:14:39,680 --> 00:14:42,280 Speaker 1: control one, my wife controls one, of my daughter controls one, 273 00:14:42,360 --> 00:14:45,600 Speaker 1: is that really decentralized, right? And so really it's it's 274 00:14:45,640 --> 00:14:49,120 Speaker 1: decentralized when there's enough spread, when there's enough databases and 275 00:14:49,160 --> 00:14:52,200 Speaker 1: there's no more control, when no one person or entity 276 00:14:52,240 --> 00:14:55,280 Speaker 1: can control that network like bitcoin. So Bitcoin doesn't have 277 00:14:55,320 --> 00:14:59,560 Speaker 1: a chief, there's no chief, there's no group, um, there's 278 00:14:59,600 --> 00:15:02,080 Speaker 1: none of that. There's no CEO to get brought up 279 00:15:02,080 --> 00:15:05,320 Speaker 1: on charges or bring in for questioning. And so because 280 00:15:05,320 --> 00:15:07,880 Speaker 1: of that, there's no one that can shut down the network. 281 00:15:08,080 --> 00:15:10,760 Speaker 1: There's no company, there's no chief, there's no labs um, 282 00:15:10,800 --> 00:15:13,320 Speaker 1: there's no government that can shut it down. Why because 283 00:15:13,320 --> 00:15:16,800 Speaker 1: there's so many databases that are controlled by all these 284 00:15:16,800 --> 00:15:19,560 Speaker 1: individual people like myself running my own note in my 285 00:15:19,560 --> 00:15:22,040 Speaker 1: own database. But you can't do that, you can't run 286 00:15:22,040 --> 00:15:24,760 Speaker 1: a note in a database with Salana. And so because 287 00:15:24,760 --> 00:15:28,200 Speaker 1: of that, Salona Labs is able to stop transactions and 288 00:15:28,320 --> 00:15:31,600 Speaker 1: is able to shut down. Now, this has happened multiple times. 289 00:15:31,640 --> 00:15:33,480 Speaker 1: This is not the first time that's happened, and we 290 00:15:33,520 --> 00:15:35,720 Speaker 1: can see this really in the price pretty well. So 291 00:15:35,760 --> 00:15:38,520 Speaker 1: we can see at the beginning of the year if 292 00:15:38,560 --> 00:15:41,880 Speaker 1: we look here today here, at the beginning of the year, 293 00:15:42,000 --> 00:15:44,440 Speaker 1: the price of Salona the token was a hundred and 294 00:15:44,480 --> 00:15:50,600 Speaker 1: seventy five. Today it's forty and so people are starting 295 00:15:50,600 --> 00:15:52,120 Speaker 1: to wake up to this. Wait a minute, what is 296 00:15:52,160 --> 00:15:55,520 Speaker 1: this thing? It's not decentralized. If it's decentralized, how do 297 00:15:55,600 --> 00:15:58,320 Speaker 1: they keep shutting it down over and over and over. 298 00:15:59,400 --> 00:16:03,400 Speaker 1: How can you build a financial network that keeps having 299 00:16:03,440 --> 00:16:05,480 Speaker 1: bugs and keeps getting shut down over and over and over. 300 00:16:06,440 --> 00:16:09,880 Speaker 1: What if you need to run transactions? Now, I'll let 301 00:16:09,880 --> 00:16:11,840 Speaker 1: you know that the Bitcoin network has achieved like a 302 00:16:11,920 --> 00:16:16,880 Speaker 1: ninety nine uptime, meaning when it first launched, in the 303 00:16:17,000 --> 00:16:19,200 Speaker 1: very first days, there was a little blood bug they 304 00:16:19,200 --> 00:16:22,160 Speaker 1: found and they fixed, and since that time it has 305 00:16:22,400 --> 00:16:27,040 Speaker 1: never never gone down, never had a bug. And there's 306 00:16:27,040 --> 00:16:28,920 Speaker 1: no other network in the world I believe that can 307 00:16:28,960 --> 00:16:31,440 Speaker 1: make that claim, and definitely not Salana. It could shut 308 00:16:31,440 --> 00:16:33,960 Speaker 1: down all the time. And my point going back to, 309 00:16:34,360 --> 00:16:38,000 Speaker 1: is is it a scam? If they tell you it's 310 00:16:38,000 --> 00:16:41,240 Speaker 1: a decentralized network and it's not, is that a fraud? 311 00:16:42,080 --> 00:16:43,320 Speaker 1: I don't know. Let me hear what you have to say. 312 00:16:43,320 --> 00:16:45,360 Speaker 1: You can hit me up on Twitter at one Mark 313 00:16:45,440 --> 00:16:48,400 Speaker 1: Moss or on Instagram at one Mark Moss. I'd love 314 00:16:48,400 --> 00:16:50,360 Speaker 1: to hear from more of you guys, so feel free 315 00:16:50,400 --> 00:16:52,600 Speaker 1: to let me know on that specifically. Is it a 316 00:16:52,600 --> 00:16:54,760 Speaker 1: scam if they tell you it's decentralized and it's not. Now, 317 00:16:54,880 --> 00:16:57,520 Speaker 1: what we know is that the world values decentralized networks 318 00:16:57,520 --> 00:17:01,080 Speaker 1: like Bitcoin right it was, it's a five six billion 319 00:17:01,080 --> 00:17:05,200 Speaker 1: dollar valuation. And we also know the world values centralized 320 00:17:05,280 --> 00:17:08,280 Speaker 1: databases experience Facebook, They're worth a lot of money. So 321 00:17:08,320 --> 00:17:10,879 Speaker 1: we know there's a value for centralized databases, and we 322 00:17:10,920 --> 00:17:14,960 Speaker 1: know there's value for decentralized databases. Is their value in 323 00:17:15,040 --> 00:17:19,600 Speaker 1: a decentralized ISH database? And what will be the point 324 00:17:19,600 --> 00:17:22,679 Speaker 1: of a decentralized ish You can think of it quickly. 325 00:17:22,720 --> 00:17:24,719 Speaker 1: Anytime you hear the word block changes, substitute in your 326 00:17:24,720 --> 00:17:29,200 Speaker 1: mind the word slow inefficient database. So we want fast databases. 327 00:17:29,400 --> 00:17:30,680 Speaker 1: The only reason that we willing to have a very 328 00:17:30,680 --> 00:17:33,159 Speaker 1: slow and efficient one is if it's the most secure 329 00:17:33,160 --> 00:17:36,160 Speaker 1: and most decentralized. But if it's not, what's the point 330 00:17:36,320 --> 00:17:39,440 Speaker 1: then we'll find out. But i'd love to hear your perspective. 331 00:17:39,440 --> 00:17:41,240 Speaker 1: Like I said, hit me up on Twitter, Instagram at 332 00:17:41,480 --> 00:17:43,560 Speaker 1: one Mark Moss and let me know what you think. 333 00:17:44,119 --> 00:17:47,560 Speaker 1: You're listening to the markmas Show talking about the decentralized Revolution, 334 00:17:47,560 --> 00:17:50,240 Speaker 1: talking about the way bitcoin and cryptocurrencies are changing the 335 00:17:50,280 --> 00:17:53,159 Speaker 1: world as we see it in every area. And we 336 00:17:53,160 --> 00:17:55,359 Speaker 1: talked about a lot different subjects because it is changing 337 00:17:55,359 --> 00:17:57,280 Speaker 1: the world. We talk about fixed the money, fix the 338 00:17:57,280 --> 00:17:59,440 Speaker 1: world is that big. Let me know what you think 339 00:17:59,440 --> 00:18:01,159 Speaker 1: about this. I got a lot more to cover when 340 00:18:01,200 --> 00:18:03,320 Speaker 1: I come back in a second, so do not go away. 341 00:18:03,880 --> 00:18:06,000 Speaker 1: I'll be right back, all right, Welcome back. You are 342 00:18:06,000 --> 00:18:08,119 Speaker 1: listening to the Mark mo Show talking about the de 343 00:18:08,440 --> 00:18:12,399 Speaker 1: centralized revolution, talking about it, talking you through it, because 344 00:18:12,440 --> 00:18:14,120 Speaker 1: the world is going through it. That's why the world 345 00:18:14,160 --> 00:18:16,600 Speaker 1: is so crazy right now. And if you understand this, 346 00:18:16,800 --> 00:18:18,560 Speaker 1: everything just starts getting more clear. We look at it 347 00:18:18,600 --> 00:18:21,560 Speaker 1: through the lens of politics, finance, and technology, all converging, 348 00:18:21,640 --> 00:18:25,080 Speaker 1: the three revolutionary cycles converging we talked about all the time, 349 00:18:26,200 --> 00:18:27,400 Speaker 1: and so we want to look at it from all 350 00:18:27,400 --> 00:18:30,400 Speaker 1: those different angles, all those different perspectives, to get this dynamic, 351 00:18:30,480 --> 00:18:32,919 Speaker 1: holistic view so we can understand it, so we can 352 00:18:32,960 --> 00:18:35,959 Speaker 1: of course be better prepared for what's happening. One thing 353 00:18:36,000 --> 00:18:40,200 Speaker 1: we saw this week was maybe one of the most 354 00:18:40,240 --> 00:18:44,600 Speaker 1: powerful people in the world. Um, non elected. I'm not 355 00:18:44,600 --> 00:18:49,320 Speaker 1: talking about the president, UM, I am talking about Jamie Diamond. Now, 356 00:18:49,400 --> 00:18:53,320 Speaker 1: Jamie Diamond is the head of JP Morgan, arguably the 357 00:18:53,359 --> 00:18:56,199 Speaker 1: most powerful banking institution United States, which, of course the 358 00:18:56,240 --> 00:18:58,880 Speaker 1: dollars reserve currency of the world. So Jamie Diamond has 359 00:18:59,280 --> 00:19:02,520 Speaker 1: massive or over the banking system, of course, the federal 360 00:19:02,600 --> 00:19:05,480 Speaker 1: reserve system, which of course is the economy and the 361 00:19:05,520 --> 00:19:08,320 Speaker 1: world as well. And so when Jamie Diamond talks, a 362 00:19:08,359 --> 00:19:11,840 Speaker 1: lot of people listen and uh, I listen. UM, I 363 00:19:11,880 --> 00:19:15,520 Speaker 1: don't always agree. For example, in Jamie Diamond said that 364 00:19:15,520 --> 00:19:18,159 Speaker 1: bitcoin is a scam, it's a fraud. He said that 365 00:19:18,280 --> 00:19:21,840 Speaker 1: if anybody at JP Morgan traded bitcoin, they would be fired. 366 00:19:21,960 --> 00:19:25,159 Speaker 1: That's what he said. So you know, I listened, I 367 00:19:25,160 --> 00:19:27,960 Speaker 1: didn't agree. Um. Sometimes I listen, sometimes I don't agree. 368 00:19:27,960 --> 00:19:29,840 Speaker 1: Sometimes I listen and I do agree. And he said 369 00:19:29,840 --> 00:19:32,840 Speaker 1: this week that, um. J He said that JP Morgan 370 00:19:33,000 --> 00:19:37,840 Speaker 1: is bracing itself get ready, brace for the impact of 371 00:19:37,880 --> 00:19:43,880 Speaker 1: an economic hurricane. He says that the FEDS actions are 372 00:19:43,920 --> 00:19:49,560 Speaker 1: creating an unprecedented challenge, but it's still too soon to 373 00:19:49,560 --> 00:19:52,679 Speaker 1: say how intense the storm will be. But he warned 374 00:19:52,680 --> 00:19:56,600 Speaker 1: investors to prepare for an economic quote hurricane as the 375 00:19:56,640 --> 00:20:03,120 Speaker 1: economy struggles on against an unprecedented combination of challenges, including 376 00:20:05,240 --> 00:20:11,000 Speaker 1: tightening monetary policies and the Russia invasion of Ukraine. So 377 00:20:11,119 --> 00:20:14,080 Speaker 1: two of those. Um, the economy struggles against unpresident combination 378 00:20:14,080 --> 00:20:18,520 Speaker 1: of challenges. So the tightening monetary policy. Okay, so without 379 00:20:18,520 --> 00:20:19,960 Speaker 1: going super deep into this guy to talk about all 380 00:20:19,960 --> 00:20:24,720 Speaker 1: the time, but that's like a self inflicted problem, the 381 00:20:24,800 --> 00:20:30,280 Speaker 1: struggling against um monterary tightening. But why are we tightening 382 00:20:30,440 --> 00:20:35,879 Speaker 1: monetary policy? Oh, well because of inflation, mark right, Um, 383 00:20:35,920 --> 00:20:39,920 Speaker 1: but what caused the inflation? Oh the loose monetary policy. 384 00:20:40,040 --> 00:20:42,679 Speaker 1: And see how all these booms and bus are because 385 00:20:42,720 --> 00:20:45,480 Speaker 1: we have a loose monetary policy to stimulate the economy 386 00:20:45,520 --> 00:20:47,600 Speaker 1: and then it gets overly stimulated and so then we 387 00:20:47,640 --> 00:20:51,879 Speaker 1: have to then tighten it back up. It's like, uh, 388 00:20:51,960 --> 00:20:53,879 Speaker 1: I don't know if it's like this, but like you know, 389 00:20:53,960 --> 00:20:56,399 Speaker 1: taking taking stimulants in the morning to wake up and 390 00:20:56,400 --> 00:20:58,800 Speaker 1: then taking sleeping bills at night. I think that's how 391 00:20:58,800 --> 00:21:01,719 Speaker 1: Elvis Presley died. Taking uppers and downers. Uppers and downers, 392 00:21:01,760 --> 00:21:03,359 Speaker 1: and that's kind of what happens with the market. And 393 00:21:03,400 --> 00:21:05,960 Speaker 1: the problem is those uppers and downers they work less 394 00:21:05,960 --> 00:21:07,320 Speaker 1: and less and less, so you need more and more 395 00:21:07,320 --> 00:21:09,119 Speaker 1: and more of them, and so then it creates a 396 00:21:09,119 --> 00:21:12,080 Speaker 1: real problem. And Elvis Presley died and so correct me 397 00:21:12,119 --> 00:21:13,760 Speaker 1: if I'm wrong, by the way, I think that's the story. 398 00:21:13,800 --> 00:21:15,679 Speaker 1: I'm not old enough to really remember. Hit me up 399 00:21:15,680 --> 00:21:17,760 Speaker 1: on social media at one, Mark Moss and let me know. 400 00:21:18,400 --> 00:21:22,240 Speaker 1: But let's let's just let's just go with that, right, 401 00:21:22,320 --> 00:21:23,639 Speaker 1: And so that's kind of what we're up against, right. 402 00:21:23,680 --> 00:21:28,560 Speaker 1: The Federal Reserve, they ease monetary policies, quantitative easing, and 403 00:21:28,640 --> 00:21:32,560 Speaker 1: now this week we started qt quantitative tightening, because that 404 00:21:32,560 --> 00:21:34,560 Speaker 1: means they're tightening things back up. But again, they wouldn't 405 00:21:34,560 --> 00:21:37,520 Speaker 1: have to tighten things if they didn't loosen things, but 406 00:21:37,680 --> 00:21:43,280 Speaker 1: they just leave things alone. As a matter of fact, Um, 407 00:21:43,440 --> 00:21:48,199 Speaker 1: we don't human beings. The government doesn't have to work 408 00:21:48,560 --> 00:21:54,240 Speaker 1: to create prosperity. Humans already create prosperity. I used to 409 00:21:54,280 --> 00:21:56,960 Speaker 1: carry one rock by hand, and uh, I got tired 410 00:21:57,000 --> 00:21:59,399 Speaker 1: of that, so I created a wheelbarrow, and now I 411 00:21:59,440 --> 00:22:02,679 Speaker 1: can carry a whole bunch of rocks. Way easier. Humans 412 00:22:03,640 --> 00:22:06,400 Speaker 1: trade From the very first time I went and killed 413 00:22:06,400 --> 00:22:08,000 Speaker 1: a rabbit and I came across the guy who had 414 00:22:08,040 --> 00:22:10,320 Speaker 1: a fire, and I said, hey, I have an idea. 415 00:22:10,480 --> 00:22:13,440 Speaker 1: How about I I cook my rabbit on your fire 416 00:22:13,480 --> 00:22:17,360 Speaker 1: and we share it. And that's capitalism. Capitalism is not 417 00:22:17,520 --> 00:22:21,240 Speaker 1: a political, uh system. It's not something that's been invented. 418 00:22:21,359 --> 00:22:23,679 Speaker 1: It's not something that has to be ordered to follow 419 00:22:23,760 --> 00:22:27,439 Speaker 1: this capitalism. No, capitalism is just organic. It's emergent. You 420 00:22:27,520 --> 00:22:30,960 Speaker 1: had a fire, I had a rabbit. Let's work together. Um, 421 00:22:31,640 --> 00:22:34,080 Speaker 1: you in my early now and you have talked about 422 00:22:34,080 --> 00:22:37,359 Speaker 1: beyond this deserted island proverbial desert island. You have the coconuts. 423 00:22:37,440 --> 00:22:40,440 Speaker 1: I found a fish. Let's trade, right. It's emergent, it's natural, 424 00:22:40,480 --> 00:22:46,000 Speaker 1: it's organic. Human beings strive for prosperity. We strive to 425 00:22:46,040 --> 00:22:51,520 Speaker 1: make things easier and better. Only through the government can 426 00:22:51,560 --> 00:22:54,000 Speaker 1: they force us to be poor. And that's exactly where 427 00:22:54,000 --> 00:22:57,040 Speaker 1: we're at here. And so back to this, they're tightening policies. 428 00:22:57,080 --> 00:22:58,800 Speaker 1: How abould if they just left us alone and we 429 00:22:58,800 --> 00:23:01,399 Speaker 1: were just left to be first on our own. But 430 00:23:01,480 --> 00:23:03,280 Speaker 1: he says here quote, we don't know if it's a 431 00:23:03,320 --> 00:23:08,480 Speaker 1: minor one or a superstorm sandy, but you better brace yourself, 432 00:23:08,560 --> 00:23:11,760 Speaker 1: he says. And he said that they're preparing. Um. He 433 00:23:11,760 --> 00:23:14,320 Speaker 1: said that JP Morgan is preparing for that turbulence by 434 00:23:14,359 --> 00:23:18,040 Speaker 1: being conservative with its balance sheet. And so I like that. 435 00:23:18,119 --> 00:23:20,240 Speaker 1: He says. They want to shed non operating, non operating 436 00:23:20,280 --> 00:23:22,639 Speaker 1: deposits again, which we can do in size to protect 437 00:23:22,680 --> 00:23:25,640 Speaker 1: ourselves so we can serve clients in bad times. And so, UM, 438 00:23:25,680 --> 00:23:28,840 Speaker 1: they're being conservative with your balance sheet and you should too. 439 00:23:28,880 --> 00:23:31,159 Speaker 1: And I am to write and so think about this, 440 00:23:31,200 --> 00:23:33,680 Speaker 1: think about your balance she, think about your investments. People 441 00:23:33,680 --> 00:23:35,119 Speaker 1: ask me a lot about real estate. They have been 442 00:23:35,119 --> 00:23:38,159 Speaker 1: a real estate investor for my whole career. Should I 443 00:23:38,160 --> 00:23:39,879 Speaker 1: buy a house now? Should I sell my house now? 444 00:23:39,920 --> 00:23:42,560 Speaker 1: Should I sell this that? Whatever? Um? And what I 445 00:23:42,560 --> 00:23:45,120 Speaker 1: would say is again, UM, look at your balance sheet, 446 00:23:45,160 --> 00:23:47,320 Speaker 1: look at the investments you have. And if you have 447 00:23:48,119 --> 00:23:51,560 Speaker 1: a house that typically I don't include my home as 448 00:23:51,560 --> 00:23:54,480 Speaker 1: part of my investments. Um. And so if you're in 449 00:23:54,520 --> 00:23:57,080 Speaker 1: a home that's your family's home, you probably don't want 450 00:23:57,119 --> 00:23:59,840 Speaker 1: to sell that. However, if it's just an investment for you, UM, 451 00:24:00,000 --> 00:24:01,760 Speaker 1: of you should UM when it comes to my real 452 00:24:01,840 --> 00:24:04,480 Speaker 1: estate investments. If it's a home that I love and 453 00:24:04,520 --> 00:24:06,119 Speaker 1: I want to keep, it's a trophy asset, it's on 454 00:24:06,160 --> 00:24:08,400 Speaker 1: a lake, it's on a ski resort, I'm always gonna 455 00:24:08,440 --> 00:24:10,040 Speaker 1: want to own this thing, no matter what, I'm going 456 00:24:10,080 --> 00:24:12,280 Speaker 1: to keep it. However, if it's in a place like 457 00:24:12,320 --> 00:24:15,639 Speaker 1: I sold some properties up in the um Northern Midwest, 458 00:24:15,920 --> 00:24:17,160 Speaker 1: and I'm like, you know what, I don't think these 459 00:24:17,160 --> 00:24:19,040 Speaker 1: areas have good long term potential, I'm selling them. So 460 00:24:19,080 --> 00:24:21,560 Speaker 1: I sold some properties there, and I've bought properties in 461 00:24:21,600 --> 00:24:23,080 Speaker 1: other areas that I think will continue to do good. 462 00:24:23,440 --> 00:24:25,280 Speaker 1: So now would be the time to get rid of 463 00:24:25,320 --> 00:24:28,440 Speaker 1: assets that you don't like. It's also the time to 464 00:24:28,440 --> 00:24:32,560 Speaker 1: think about holding more cash. I think holding of your 465 00:24:32,560 --> 00:24:36,480 Speaker 1: investment portfolio and cash is probably a good idea right now, UM, 466 00:24:36,600 --> 00:24:40,040 Speaker 1: and UM thinking very carefully about putting more money out 467 00:24:40,560 --> 00:24:43,719 Speaker 1: because what he's saying right here, JP Morgan is preparing 468 00:24:43,760 --> 00:24:47,520 Speaker 1: for that turbulence by being conservative with its balance sheet, 469 00:24:47,880 --> 00:24:51,879 Speaker 1: and he says that there's power quote, powerful forces threatening 470 00:24:52,160 --> 00:24:57,280 Speaker 1: the US economy. Powerful forces. UM Like, what what are 471 00:24:57,280 --> 00:25:02,840 Speaker 1: these powerful forces? Uh? Back to inflation and the Russia's 472 00:25:02,840 --> 00:25:07,640 Speaker 1: invasion of Ukraine. Now, Uh. First of all, it's not uh, 473 00:25:07,720 --> 00:25:09,840 Speaker 1: it's not the COVID crisis, and it's not the Russia 474 00:25:10,160 --> 00:25:14,680 Speaker 1: Ukraine crisis. It's the response to those things that are 475 00:25:14,720 --> 00:25:18,320 Speaker 1: the problem. So Russia's invasion of Ukraine, well, now the 476 00:25:18,359 --> 00:25:22,399 Speaker 1: whole world has slapped crazy sanctions on them. It's the 477 00:25:22,440 --> 00:25:25,560 Speaker 1: sanctions that are causing the problem. Now Russia is doing 478 00:25:25,600 --> 00:25:28,840 Speaker 1: better than they've ever done. Their currency, the ruble, is 479 00:25:29,040 --> 00:25:32,200 Speaker 1: at all time highs. They're making more money than they've 480 00:25:32,240 --> 00:25:35,239 Speaker 1: ever made because they have gold, they have oil, they 481 00:25:35,240 --> 00:25:37,480 Speaker 1: have natural gas. Those things have shot through the roof. 482 00:25:37,560 --> 00:25:41,200 Speaker 1: They're making more money. All of the sanctions are hurting 483 00:25:41,240 --> 00:25:43,320 Speaker 1: you and me in the United States. We pay more 484 00:25:43,400 --> 00:25:45,920 Speaker 1: for gas, we pay more for food. So the problem 485 00:25:46,000 --> 00:25:47,879 Speaker 1: is not the Russia Ukraine war. The problem is the 486 00:25:48,040 --> 00:25:51,920 Speaker 1: response to it, so that the sanctions have made richer Russia, 487 00:25:52,160 --> 00:25:55,520 Speaker 1: Russia richer, and made us in Western Europe and the 488 00:25:55,560 --> 00:26:00,280 Speaker 1: United States poor. Um through the COVID epidemic. It isn't 489 00:26:00,359 --> 00:26:03,720 Speaker 1: COVID necessarily direct the economy, it was the response to it. 490 00:26:03,760 --> 00:26:07,080 Speaker 1: So Jamie Diamonds talking about these um, these unprecedented things, 491 00:26:07,160 --> 00:26:10,359 Speaker 1: these powerful forces, as he said, but it's the powerful 492 00:26:10,520 --> 00:26:14,600 Speaker 1: people that are creating these policies that are creating these problems. 493 00:26:15,840 --> 00:26:18,040 Speaker 1: He says that. He says, he said, are we facing 494 00:26:18,040 --> 00:26:21,880 Speaker 1: a recession? He said, It's possible, Absolutely possible. He said, 495 00:26:22,640 --> 00:26:24,880 Speaker 1: UM And he says, uh in the nation's biggest bank, 496 00:26:24,920 --> 00:26:27,159 Speaker 1: having an unparalleled view of the US economy, has a 497 00:26:27,160 --> 00:26:30,439 Speaker 1: window into the finances of American households, businesses, and small 498 00:26:31,000 --> 00:26:34,840 Speaker 1: and they have approximately six to nine months of spending 499 00:26:35,000 --> 00:26:38,480 Speaker 1: power left. Six to nine months of spending power left. 500 00:26:38,720 --> 00:26:41,960 Speaker 1: So UM, if inflation continues going up. We've talked, We've 501 00:26:41,960 --> 00:26:45,840 Speaker 1: seen reports showing that Americans now have to postpone retirement 502 00:26:45,880 --> 00:26:48,520 Speaker 1: because of this. UM, we have about six months of 503 00:26:48,560 --> 00:26:51,960 Speaker 1: runway left before things get ready. He says. He's bracing 504 00:26:52,000 --> 00:26:54,920 Speaker 1: for an economic storm, and I am too, and you 505 00:26:54,960 --> 00:26:57,719 Speaker 1: should too. You're listening to the Mark mo Show talking 506 00:26:57,760 --> 00:27:01,320 Speaker 1: about the decentralized revolution, which of course, these economic storms, 507 00:27:01,320 --> 00:27:05,399 Speaker 1: its volatility happens during these revolutionary times. I'm bringing it 508 00:27:05,440 --> 00:27:07,520 Speaker 1: to you in context of politics, finance, and technologies so 509 00:27:07,600 --> 00:27:10,880 Speaker 1: you can understand all of these forces so you can 510 00:27:10,920 --> 00:27:14,520 Speaker 1: be better prepared. I'm being better prepared by moving more 511 00:27:14,600 --> 00:27:17,600 Speaker 1: towards cash, getting rid of investments that I don't want 512 00:27:17,640 --> 00:27:20,600 Speaker 1: to keep for the long term and only deploying new 513 00:27:20,640 --> 00:27:23,520 Speaker 1: money and stuff that I really believe. I'm preparing for 514 00:27:23,520 --> 00:27:25,880 Speaker 1: the storm, Jimmy Diamonds, preparing for the storm as JP 515 00:27:25,880 --> 00:27:28,760 Speaker 1: Morgan is, and you should as well. Of course, I'm 516 00:27:28,760 --> 00:27:32,280 Speaker 1: not selling my bitcoin and you shouldn't either. Um, that's 517 00:27:32,280 --> 00:27:34,560 Speaker 1: not financial advice, that's just what I'm doing. I'll be 518 00:27:34,600 --> 00:27:36,920 Speaker 1: back with more in a minute, so don't go away, 519 00:27:37,160 --> 00:27:39,320 Speaker 1: all right, welcome back. You are listening to the Markmas Show. 520 00:27:39,320 --> 00:27:43,120 Speaker 1: We're talking about the decentralized revolution navigating the world as 521 00:27:43,160 --> 00:27:45,920 Speaker 1: we see this revolution change, as the world is changed 522 00:27:45,960 --> 00:27:49,120 Speaker 1: right before very eyes. Of course, Um, it's already going 523 00:27:49,160 --> 00:27:51,160 Speaker 1: through this, and we have this technological revolution of bitcoin 524 00:27:51,200 --> 00:27:55,200 Speaker 1: that is speeding up this adoption and it's caused all 525 00:27:55,240 --> 00:27:57,480 Speaker 1: types of problems. Uh. Like I said, we say we 526 00:27:57,520 --> 00:28:00,760 Speaker 1: talked about fixed the money, fixed the world because it 527 00:28:00,920 --> 00:28:05,679 Speaker 1: really changes everything from society breaking down to our health 528 00:28:05,760 --> 00:28:07,480 Speaker 1: to the way that we even get along with people. 529 00:28:07,520 --> 00:28:09,639 Speaker 1: And you can see it right the people, the people 530 00:28:09,760 --> 00:28:12,160 Speaker 1: around the world have never been more divided, and we're 531 00:28:12,280 --> 00:28:14,280 Speaker 1: being divided on lots of different issues and a lot 532 00:28:14,320 --> 00:28:17,119 Speaker 1: of those issues go back to the money. One of 533 00:28:17,160 --> 00:28:19,240 Speaker 1: these big hot button issues that I've spent a lot 534 00:28:19,280 --> 00:28:22,119 Speaker 1: of time this week talking about with with individual people, 535 00:28:22,640 --> 00:28:25,480 Speaker 1: is this UH topic that just won't seem to go away, 536 00:28:25,520 --> 00:28:28,920 Speaker 1: that continues to be recirculated over and over, and it's 537 00:28:28,920 --> 00:28:31,520 Speaker 1: been hot this week, and I'm talking about what should 538 00:28:31,520 --> 00:28:36,159 Speaker 1: we do with student loan debt? It's an interesting topic. 539 00:28:37,480 --> 00:28:40,040 Speaker 1: Like most topics, there's no easy answer for any of 540 00:28:40,040 --> 00:28:41,520 Speaker 1: these because you have to look at them from so 541 00:28:41,600 --> 00:28:44,560 Speaker 1: many ways. And I think you know, one of the 542 00:28:44,560 --> 00:28:47,360 Speaker 1: problems that we have with these types of issues and 543 00:28:47,400 --> 00:28:50,680 Speaker 1: politics overall, a lot of times people think about themselves 544 00:28:51,280 --> 00:28:53,880 Speaker 1: when they vote on these things or discuss them, as 545 00:28:53,880 --> 00:28:57,160 Speaker 1: opposed to thinking about the greater good. A lot of 546 00:28:57,160 --> 00:28:59,760 Speaker 1: that greater good has been ignored because of just the 547 00:28:59,760 --> 00:29:02,600 Speaker 1: way society has gone gone. I think if you look back, 548 00:29:02,680 --> 00:29:06,600 Speaker 1: like UH, in a business which ran many businesses, the 549 00:29:06,600 --> 00:29:08,160 Speaker 1: most people have had working for me at one time 550 00:29:08,200 --> 00:29:11,040 Speaker 1: was about sixty five people, which isn't super big, but 551 00:29:11,040 --> 00:29:14,200 Speaker 1: but it's not small either. And when you run a company, 552 00:29:14,240 --> 00:29:16,720 Speaker 1: you have to think about your company culture, and that's 553 00:29:16,720 --> 00:29:19,960 Speaker 1: like the attitude that's in that company, and the company 554 00:29:20,000 --> 00:29:22,640 Speaker 1: culture is set by the top in business there's a 555 00:29:22,680 --> 00:29:25,120 Speaker 1: saying that says a fish stinks from the head down. 556 00:29:26,000 --> 00:29:27,560 Speaker 1: And so if you think about that and the way 557 00:29:27,720 --> 00:29:30,720 Speaker 1: businesses set culture, and so you've had companies like Zappos, 558 00:29:30,760 --> 00:29:33,640 Speaker 1: like the online shoe company that have basically reimagined the 559 00:29:33,680 --> 00:29:35,800 Speaker 1: way the company culture said, and they become case studies 560 00:29:35,800 --> 00:29:38,000 Speaker 1: in businesses emulate what they've done. But if you look 561 00:29:38,000 --> 00:29:40,520 Speaker 1: at the United States, for example, when it was founded, 562 00:29:40,520 --> 00:29:44,320 Speaker 1: we had founding fathers who left their homes in Europe 563 00:29:45,200 --> 00:29:49,040 Speaker 1: risk their lives to come to America in hopes of 564 00:29:49,080 --> 00:29:53,080 Speaker 1: a better place for future generations. So they risk their happiness, 565 00:29:53,280 --> 00:29:57,719 Speaker 1: they risked their life for future generations. Um, the you know, 566 00:29:57,840 --> 00:30:00,640 Speaker 1: in the early days, the founding fathers, they went to war, 567 00:30:00,720 --> 00:30:04,160 Speaker 1: the Revolutionary War, and they risked their life, they risked 568 00:30:04,160 --> 00:30:07,640 Speaker 1: everything for future generations. Even not that long ago, even 569 00:30:07,760 --> 00:30:10,520 Speaker 1: you know, eighty years ago, even still today, probably some 570 00:30:10,680 --> 00:30:12,720 Speaker 1: but even eight years ago, we had we had immigrants 571 00:30:12,760 --> 00:30:17,440 Speaker 1: come into this country sacrificing everything, leaving everything behind, working 572 00:30:17,560 --> 00:30:20,720 Speaker 1: you know, two three jobs so their future generations could 573 00:30:20,760 --> 00:30:23,320 Speaker 1: be better. But today we don't have that anymore. The 574 00:30:23,400 --> 00:30:27,280 Speaker 1: leadership of this country today is only thinking about themselves. 575 00:30:27,400 --> 00:30:32,840 Speaker 1: Nancy Pelosi is able to outtrade every single hedge fund 576 00:30:32,840 --> 00:30:35,080 Speaker 1: and investor in the in the nation, and now the 577 00:30:35,160 --> 00:30:37,120 Speaker 1: United States. The only thing we have left is our 578 00:30:37,120 --> 00:30:40,640 Speaker 1: financial services are Wall Street right, and she's outperforming them 579 00:30:40,720 --> 00:30:43,040 Speaker 1: and their full time professionals that have million dollars million 580 00:30:43,080 --> 00:30:46,560 Speaker 1: dollars worth of staff and team to help them. We 581 00:30:46,680 --> 00:30:50,480 Speaker 1: have leadership that's only thinking about themselves, and so what 582 00:30:50,520 --> 00:30:53,240 Speaker 1: does that do? Back to the leadership and the culture, 583 00:30:53,680 --> 00:30:56,160 Speaker 1: and so now we have everybody in the country thinking 584 00:30:56,240 --> 00:30:58,720 Speaker 1: about themselves, no one thinking about the greater good, and 585 00:30:58,760 --> 00:31:01,120 Speaker 1: so back to the student loaned At a lot of 586 00:31:01,160 --> 00:31:03,680 Speaker 1: times people approach these situations thinking about what's good for 587 00:31:03,720 --> 00:31:06,400 Speaker 1: me as opposed to thinking about the greater good. Now, 588 00:31:06,440 --> 00:31:08,200 Speaker 1: it's not just as easy as ad There's some ways 589 00:31:08,200 --> 00:31:10,160 Speaker 1: to look at this, but of course this is the 590 00:31:10,320 --> 00:31:13,680 Speaker 1: raging debate. Um says US Americans collectively hold more than 591 00:31:13,800 --> 00:31:17,720 Speaker 1: one point five trillion in federal student loans, making it 592 00:31:17,760 --> 00:31:21,000 Speaker 1: the second largest category of consumer debt, behind only mortgage debt. 593 00:31:21,200 --> 00:31:23,080 Speaker 1: Of course, more is that at least you have a 594 00:31:23,160 --> 00:31:25,880 Speaker 1: house student loan debt, you have a piece of paper 595 00:31:25,920 --> 00:31:28,000 Speaker 1: you can hang on your wall. Now it's the second 596 00:31:28,080 --> 00:31:31,080 Speaker 1: largest category of consumer debt, but it's the largest, the 597 00:31:31,200 --> 00:31:35,800 Speaker 1: number one asset on the government's books. Now, the government 598 00:31:35,880 --> 00:31:38,600 Speaker 1: has a ton of debt obviously, about thirty trillion dollars 599 00:31:38,640 --> 00:31:41,000 Speaker 1: worth of debt. And then they have assets, right as 600 00:31:41,000 --> 00:31:44,560 Speaker 1: you have liabilities, what's your debt and you have your assets? Well, 601 00:31:44,640 --> 00:31:48,160 Speaker 1: their assets, their biggest asset is this the debt, the 602 00:31:48,160 --> 00:31:51,480 Speaker 1: student loan debt, approximately forty three million student loan borrowers 603 00:31:51,520 --> 00:31:57,120 Speaker 1: in the US almost oh dollars or less, well forty 604 00:31:57,520 --> 00:32:01,280 Speaker 1: or more um. And so is this the crisis that 605 00:32:01,320 --> 00:32:04,000 Speaker 1: calls for a cancelation of all federal student debt, as 606 00:32:04,080 --> 00:32:09,160 Speaker 1: championed by former Democratic presidential hopeful Bernie Sanders and Elizabeth Warren. 607 00:32:10,600 --> 00:32:14,000 Speaker 1: There's a raging debate, debate and uh, there's pros and cons, 608 00:32:14,040 --> 00:32:17,240 Speaker 1: there's winners and losers. And that's part of a problem. 609 00:32:17,240 --> 00:32:21,600 Speaker 1: I've talked about this that capitalism is free an open market. 610 00:32:21,720 --> 00:32:25,560 Speaker 1: So capitalism is always a win win. Capitalism is one 611 00:32:25,600 --> 00:32:30,920 Speaker 1: it protects private property rights to it's free and voluntary exchange, 612 00:32:30,960 --> 00:32:33,360 Speaker 1: and so it's always win win. If I like the deal, 613 00:32:33,400 --> 00:32:35,120 Speaker 1: I take it. If I uh, and that's I take 614 00:32:35,160 --> 00:32:36,640 Speaker 1: it because it's a win. And if I don't know, 615 00:32:36,800 --> 00:32:39,880 Speaker 1: no harm off of me and I went either way, right, Um, 616 00:32:39,920 --> 00:32:43,000 Speaker 1: But under these type of political systems, there's always a loser. 617 00:32:43,040 --> 00:32:46,320 Speaker 1: It's always a win lose deal, and unfortunately that's where 618 00:32:46,320 --> 00:32:48,280 Speaker 1: we're at. It's it's not a good situation, they say. 619 00:32:48,360 --> 00:32:52,400 Speaker 1: Proponents of mass desk debt cancelation say it's appropriate because 620 00:32:52,920 --> 00:32:57,200 Speaker 1: it's failed government policies, not recklessness on the students, because 621 00:32:57,200 --> 00:33:00,240 Speaker 1: I guess the students were forced at gunpoint to take 622 00:33:00,240 --> 00:33:02,760 Speaker 1: on the debt. I guess why, says uh. They hold 623 00:33:02,800 --> 00:33:05,920 Speaker 1: at one point six joined in debt, and the effects 624 00:33:05,920 --> 00:33:11,840 Speaker 1: of that debt on college graduates have been documented. Delays homebuying, delays, marriage, delays, 625 00:33:11,880 --> 00:33:16,160 Speaker 1: wealth formation because those student loans are eating into their 626 00:33:16,160 --> 00:33:21,000 Speaker 1: savings and it accounts um for about thirty five per 627 00:33:21,080 --> 00:33:25,440 Speaker 1: cent of debt of these delinquent households. And it's it's 628 00:33:25,480 --> 00:33:28,360 Speaker 1: not wrong, it's not wrong, right. I think about it like, 629 00:33:28,760 --> 00:33:32,960 Speaker 1: these are young people, you know, starting out in life, 630 00:33:33,000 --> 00:33:37,440 Speaker 1: starting families, etcetera. This is the future. So we have 631 00:33:37,520 --> 00:33:40,360 Speaker 1: this aging population, the baby boomer generation is the largest 632 00:33:40,400 --> 00:33:44,640 Speaker 1: segment of the population. They're all retiring. Now, you spend 633 00:33:44,640 --> 00:33:46,360 Speaker 1: the most amount of your money at the end of 634 00:33:46,400 --> 00:33:49,680 Speaker 1: your life, when you're dying, and now we need all 635 00:33:49,720 --> 00:33:52,360 Speaker 1: these young people to come up and pay for all 636 00:33:52,400 --> 00:33:54,240 Speaker 1: of that. But all these young people are stiddled with 637 00:33:54,240 --> 00:33:57,680 Speaker 1: so much debt that they can't be productive. So it 638 00:33:57,760 --> 00:33:59,719 Speaker 1: is a problem. I'm not gonna lie. It's a problem. 639 00:33:59,760 --> 00:34:02,920 Speaker 1: But is it the problem of the government of to 640 00:34:02,960 --> 00:34:07,480 Speaker 1: forgive that debt? Think about it now. A lot of 641 00:34:07,520 --> 00:34:11,240 Speaker 1: people went and took on this debt to get the jobs, 642 00:34:11,239 --> 00:34:14,000 Speaker 1: so they thought they could get better jobs, right, it, 643 00:34:14,000 --> 00:34:16,880 Speaker 1: says uh. In the wake of the two financial crisis, 644 00:34:17,239 --> 00:34:20,640 Speaker 1: states cut public funding to higher education, so individuals had 645 00:34:20,680 --> 00:34:22,840 Speaker 1: to pick up the slack. So since the government stopped 646 00:34:22,880 --> 00:34:25,680 Speaker 1: subsidizing it, people had to pay more. Tuition at public 647 00:34:25,719 --> 00:34:28,400 Speaker 1: four year college is increased by thirty six percent between 648 00:34:28,440 --> 00:34:31,120 Speaker 1: o eight and two thousand eighteen UM as many people 649 00:34:31,120 --> 00:34:34,440 Speaker 1: turned to higher education to wait out weaker jobs, but 650 00:34:35,360 --> 00:34:38,640 Speaker 1: because of the increased demand always back to the supply demand. 651 00:34:38,760 --> 00:34:42,040 Speaker 1: Because of increased demand, it pushed the private pushed the 652 00:34:42,080 --> 00:34:47,160 Speaker 1: tuition costs up. M hmm. Now this might have worked 653 00:34:47,160 --> 00:34:49,520 Speaker 1: out if the returns on a college education had climbed 654 00:34:49,560 --> 00:34:52,799 Speaker 1: to the similar rate. Instead, the recession ended wages for 655 00:34:52,840 --> 00:34:55,919 Speaker 1: college graduates and they've stayed flat. So all these people 656 00:34:55,960 --> 00:34:58,520 Speaker 1: went and borrowed money to get the college degrees, they 657 00:34:58,560 --> 00:35:00,120 Speaker 1: couldn't get the jobs and not turned out to a 658 00:35:00,120 --> 00:35:04,960 Speaker 1: bad deal. But whose fault is that? And now I'm 659 00:35:04,960 --> 00:35:06,960 Speaker 1: sympathetic to those people? But what about the people who 660 00:35:07,040 --> 00:35:09,279 Speaker 1: chose not to go to college because they didn't want 661 00:35:09,320 --> 00:35:11,160 Speaker 1: to take on the debt and now they've been working 662 00:35:11,200 --> 00:35:15,040 Speaker 1: a lower paid wage job. If you forgive the debt 663 00:35:15,040 --> 00:35:17,560 Speaker 1: of the people who went to college because they got 664 00:35:17,640 --> 00:35:19,520 Speaker 1: a better job, what about the people who have been 665 00:35:19,520 --> 00:35:21,479 Speaker 1: working for a decade and a low paying job because 666 00:35:21,480 --> 00:35:23,680 Speaker 1: they didn't want to take on the debt. What about 667 00:35:23,680 --> 00:35:27,160 Speaker 1: the people who worked two jobs and sacrificed their family 668 00:35:27,719 --> 00:35:31,080 Speaker 1: to pay that debt off. How do you subsidize that. 669 00:35:32,120 --> 00:35:36,640 Speaker 1: It's a complex problem that again, these are these are 670 00:35:36,640 --> 00:35:39,000 Speaker 1: these are difficult problems to get out of. They're much 671 00:35:39,040 --> 00:35:42,360 Speaker 1: better if you never get into them in the first place. 672 00:35:43,040 --> 00:35:47,400 Speaker 1: So back to central planning, the decentralized revolution. Central planning 673 00:35:47,480 --> 00:35:51,719 Speaker 1: is the problem. Printing money and deciding to subsidize some 674 00:35:51,760 --> 00:35:55,319 Speaker 1: people at the sacrifice of other people will create this 675 00:35:55,440 --> 00:35:58,239 Speaker 1: wind loose scenario. Someone's gonna win, someone's gonna lose. All 676 00:35:58,239 --> 00:36:01,279 Speaker 1: that's going to do is divide people even more. If 677 00:36:01,320 --> 00:36:02,960 Speaker 1: I chose not to go to college, which I didn't, 678 00:36:03,640 --> 00:36:05,880 Speaker 1: why should I have to pay for people who chose to. 679 00:36:06,680 --> 00:36:08,040 Speaker 1: And all of this is put us against each other. 680 00:36:08,120 --> 00:36:09,719 Speaker 1: Now there's no easy way of this. I'd love to 681 00:36:09,719 --> 00:36:11,600 Speaker 1: hear what you think. Hit me up on social media 682 00:36:11,680 --> 00:36:13,479 Speaker 1: at one Mark Moss, you hit me up on Twitter, 683 00:36:13,480 --> 00:36:14,960 Speaker 1: on Instagram. I'd love to hear what you think about this. 684 00:36:15,000 --> 00:36:16,760 Speaker 1: I'll talk more about it if I get enough feedback 685 00:36:16,800 --> 00:36:19,319 Speaker 1: from you. But it's a it's a it's a difficult problem. 686 00:36:19,440 --> 00:36:21,560 Speaker 1: All of these problems are difficult to get out of 687 00:36:21,560 --> 00:36:24,320 Speaker 1: because we live in a complex system that needs to 688 00:36:24,360 --> 00:36:27,080 Speaker 1: be made on a small local level, a d centralized level, 689 00:36:27,080 --> 00:36:30,320 Speaker 1: which is why we talked about the decentralized revolution. Central 690 00:36:30,320 --> 00:36:32,800 Speaker 1: planning fails because it can't take into account all of 691 00:36:32,880 --> 00:36:36,440 Speaker 1: the variables that go into this. And now here we 692 00:36:36,520 --> 00:36:38,759 Speaker 1: are stuck with an a possible decision where there's gonna 693 00:36:38,760 --> 00:36:41,520 Speaker 1: be winners, there's gonna be losers, there's gonna be more 694 00:36:41,600 --> 00:36:45,080 Speaker 1: civil discourse in the time when we can't afford that anymore. 695 00:36:45,440 --> 00:36:47,880 Speaker 1: You're listening to the Mark Moms Show, talking about the 696 00:36:47,960 --> 00:36:52,319 Speaker 1: decentralized revolution, talking about how the world is changing technology, 697 00:36:52,320 --> 00:36:56,560 Speaker 1: being the driver Bitcoin, decentralized technology changing the world for 698 00:36:56,760 --> 00:36:59,920 Speaker 1: the better. In my opinion, it's rough now, but there's 699 00:37:00,080 --> 00:37:02,279 Speaker 1: massive hope and prosperity on the other side of this. 700 00:37:02,280 --> 00:37:03,320 Speaker 1: But I'd love to hear what you think. Hit me 701 00:37:03,360 --> 00:37:06,040 Speaker 1: up on social media at one Mark Moss at least 702 00:37:06,120 --> 00:37:07,799 Speaker 1: let me know that you listen to me. And that's 703 00:37:07,840 --> 00:37:09,360 Speaker 1: what I got for you today. Thanks for listening.