WEBVTT - Don't Forget Rule #1: Don't Lose Money 0:00:00.000 --> 0:00:02.360 Hello, and welcome back to another episode of the Markmas Show, 0:00:02.360 --> 0:00:06.120 where we talk about the decentralized revolution that the world 0:00:06.160 --> 0:00:08.000 is going through right now, and we talk about it 0:00:08.000 --> 0:00:13.000 through the lens of technology that's always changed the course 0:00:13.080 --> 0:00:17.040 of humanity. Of course, we're talking about the bitcoin technology, 0:00:17.239 --> 0:00:20.120 the decentralized technologies changing the world, and we're looking at 0:00:20.160 --> 0:00:22.720 through the lens of politics, finance, and technology to try 0:00:22.760 --> 0:00:27.960 to bring context to what is going on. And there's 0:00:27.960 --> 0:00:29.920 a lot of stuff going on, that is for sure. 0:00:30.440 --> 0:00:32.440 You know. We're seeing at a time where we have 0:00:33.640 --> 0:00:37.880 inflation raging to all newtime highs UM. At the same 0:00:37.920 --> 0:00:40.879 time we have like record amount of job quits going on, 0:00:41.000 --> 0:00:45.479 which is just crazy. Um. And then for the kind 0:00:45.520 --> 0:00:49.120 of the first time in my life or like potentially 0:00:49.159 --> 0:00:52.720 dealing with like a threat of nuclear war, we have 0:00:53.760 --> 0:00:58.440 food food shortages and famine being forecast um, which is 0:00:58.480 --> 0:01:01.000 just insane to me. Energy christ is going on, I mean, 0:01:01.080 --> 0:01:04.880 you name it. And as wild and crazy as this 0:01:05.080 --> 0:01:08.720 all sounds and it is, um, it's all part of 0:01:08.760 --> 0:01:12.720 these uh decentralized revolutions that happened right now and right here, 0:01:13.200 --> 0:01:15.800 and and as as big and as bad and as 0:01:15.880 --> 0:01:18.840 dangerous and as scary as as this all is, and 0:01:18.959 --> 0:01:25.080 it is as much uncertainty as we have about the future. Um, 0:01:25.160 --> 0:01:28.920 we need to try to bring back some certainty back, right. 0:01:29.160 --> 0:01:30.800 And we know when we go back and we look 0:01:30.840 --> 0:01:33.080 through history, which if you're tune into me on a 0:01:33.080 --> 0:01:35.319 regular basis, you know I love history. If we go 0:01:35.319 --> 0:01:37.920 back and we look at this from mystical standpoint, I mean, 0:01:37.959 --> 0:01:41.680 we hit these periods of volatility of uncertainty when the 0:01:41.720 --> 0:01:44.959 world changes. So as we go through these revolutionary periods, 0:01:45.000 --> 0:01:48.880 the world changes. Um. The good part, well, the good 0:01:48.960 --> 0:01:51.280 the good part is that it doesn't last a long time. 0:01:51.440 --> 0:01:54.480 It doesn't last forever, right, So the world gets volatile 0:01:54.960 --> 0:01:59.040 and the world changes, and then we find whatever is 0:01:59.040 --> 0:02:03.640 a new normal. Um. I for one believe that this 0:02:03.880 --> 0:02:06.600 technological revolution that we're facing right now with bick Woine 0:02:07.560 --> 0:02:09.360 is here to stay. And men go into that. And 0:02:09.360 --> 0:02:12.160 that's in deep detail. But I think it's one of 0:02:12.160 --> 0:02:15.600 the best risk adjusted investments I've ever seen in my career. 0:02:15.680 --> 0:02:18.120 And I can tell you that I believe that buying 0:02:18.160 --> 0:02:24.239 it now today at about approximates is a better entry 0:02:25.320 --> 0:02:28.200 then when I started buying it in at three hundred 0:02:28.200 --> 0:02:33.959 dollars and you might say, how is that possible? Mark, 0:02:34.040 --> 0:02:35.880 you were buying a three hundred that was obviously way 0:02:35.880 --> 0:02:38.640 better than buying it thirty. And if you look at 0:02:38.720 --> 0:02:41.880 just the sheer numbers, that's true. However, you should never 0:02:41.919 --> 0:02:45.320 be looking at any type of investment from the sheer numbers, right. 0:02:45.320 --> 0:02:47.520 You're trying to look at a bunch of different information 0:02:47.639 --> 0:02:52.120 to make a good decision. And what most people get wrong, 0:02:52.520 --> 0:02:54.440 and this is why most people lose money. Well most 0:02:54.480 --> 0:02:57.400 people get wrong is they look at how much can 0:02:57.440 --> 0:03:00.639 I make? I want that next hot tip, I want 0:03:00.680 --> 0:03:03.720 this next options trade, what's the next cryptocurrency, what's the 0:03:03.760 --> 0:03:05.519 next thing that can make me a bunch of money? 0:03:05.520 --> 0:03:07.160 And they focus on how much they can make, what 0:03:07.200 --> 0:03:12.480 the profit potential is. Real investors, professional investors, they don't 0:03:12.480 --> 0:03:14.560 look at that. They do, they look at that, but 0:03:14.600 --> 0:03:17.000 they also look at how much can I lose? What's 0:03:17.040 --> 0:03:20.600 my risk? Warren Buffets that the most important rule investing 0:03:20.680 --> 0:03:22.760 is to never lose money. The second most important rule 0:03:22.800 --> 0:03:25.560 is to don't forget number one. Don't lose money. Now, 0:03:25.560 --> 0:03:27.600 it's not that's not to say that's everybody loses money. 0:03:27.639 --> 0:03:29.919 Warm Buffets lost a lot of money, but you never 0:03:30.080 --> 0:03:32.360 want to lose money, and so you're always focused on 0:03:32.400 --> 0:03:36.680 that first, not how much you're making money. You have 0:03:36.720 --> 0:03:40.440 to understand that your life is a long should be, 0:03:40.480 --> 0:03:43.640 hopefully will be a long term game. Right. It's like 0:03:43.680 --> 0:03:47.000 a marathon. It's not I have twelve hours in the casino. 0:03:47.040 --> 0:03:49.200 I'm in Vegas on a on a plane. I'm gonna 0:03:49.280 --> 0:03:50.920 layover on my plan. I'm gonna go play the casinos 0:03:50.920 --> 0:03:52.440 for twelve hours, make as much as I can. Know 0:03:53.120 --> 0:03:55.320 it's your whole life, and so instead of trying to 0:03:55.760 --> 0:03:58.760 retire off of every single trade, it's about making money 0:03:58.760 --> 0:04:04.280 consistently over time out losing big um. Being an entrepreneur 0:04:04.280 --> 0:04:06.920 and being an investor or sort of like being a gladiator. 0:04:07.800 --> 0:04:11.920 What does that mean? That means the more you do it, 0:04:12.040 --> 0:04:15.200 the more likely you are to die, right, And so 0:04:15.320 --> 0:04:17.599 the goal is to not die. You don't want to die. 0:04:17.600 --> 0:04:19.440 And so you could be the best investor in the world. 0:04:19.480 --> 0:04:21.520 I mean you could win and win and win and 0:04:21.560 --> 0:04:24.640 win and win and win and win for decades and 0:04:24.680 --> 0:04:26.240 then one or two bad decisions and you could be 0:04:26.240 --> 0:04:28.120 wiped out. You could die. You could be the best 0:04:28.120 --> 0:04:29.960 gladiator forever. And then you meet one opponent and they 0:04:30.040 --> 0:04:32.599 kill you, and so you want to be careful about that. 0:04:32.640 --> 0:04:35.680 And so back to this risk adjusted trade. So the bitcoin, 0:04:35.720 --> 0:04:39.719 I believe it's a better entry today than it was then. 0:04:39.760 --> 0:04:42.120 And the reason why it's because of the risk. So 0:04:42.960 --> 0:04:46.120 there was so much risk. So on a risk adjusted basis, 0:04:47.480 --> 0:04:52.360 I mean bitcoin had had this rise, nobody knew it was. 0:04:53.600 --> 0:04:56.320 Um it ran up to about a thousand dollars, which 0:04:56.360 --> 0:04:58.400 was amazing. It caught my attention, maybe I should buy it, 0:04:58.760 --> 0:05:01.040 and then it crashed all the down right, and it 0:05:02.240 --> 0:05:04.839 was three bucks. It was way down off of where 0:05:04.839 --> 0:05:07.480 it's high was. Um. It was so new, we didn't 0:05:07.480 --> 0:05:09.040 know what it was, and what is this thing? And 0:05:09.080 --> 0:05:12.040 will it work well? Won't What about all these other cryptocurrencies, 0:05:12.160 --> 0:05:15.239 what about the blockchain, whether when the government's make it legal? 0:05:15.560 --> 0:05:19.359 There's all these risks And so even though I can 0:05:19.400 --> 0:05:21.400 buy it for three dollars, I couldn't put that much 0:05:21.440 --> 0:05:25.560 money into it because it was too risky. Whereas today 0:05:25.560 --> 0:05:27.760 we're at a point where I think almost all the 0:05:27.880 --> 0:05:32.800 risk is out. It's we don't know the future, nothing 0:05:32.839 --> 0:05:35.440 is unson certain, but almost all the risk is out 0:05:35.680 --> 0:05:39.080 and it's more inevitable, it's more certain today, way more 0:05:39.120 --> 0:05:41.680 certain today than it was in which means I can 0:05:41.720 --> 0:05:45.400 put way more money in today. However, even though it's 0:05:45.400 --> 0:05:49.400 at three thousand, we still have an amazing risk return profile. 0:05:49.520 --> 0:05:52.720 So very quickly I could run through the math and 0:05:52.800 --> 0:05:56.400 we could see bitcoin rise to a million dollars or coin. 0:05:57.040 --> 0:06:02.240 That's a twenty x upside we have. I mean, it 0:06:02.279 --> 0:06:05.080 could go to zero. The chance of the happening is 0:06:06.080 --> 0:06:08.760 barely above zero, but it could. So I have a 0:06:08.880 --> 0:06:14.919 one time's downside with a twenty times upside. That's pretty 0:06:14.960 --> 0:06:17.760 damn good odds odds. I'll take those odds. But it 0:06:17.760 --> 0:06:20.280 gets even better than that. So really, if we look 0:06:20.320 --> 0:06:23.080 at bitcoin, um, it's risen and fallen, risen and fall 0:06:23.120 --> 0:06:25.720 and talked about it falling from a thousand to three. Um, 0:06:25.760 --> 0:06:27.720 if you look at it, really bitcoin that hasn't really 0:06:27.720 --> 0:06:30.600 fallen more than about eight percent from its high, and 0:06:30.640 --> 0:06:33.080 so we're down. If we look at from its high 0:06:33.160 --> 0:06:35.599 in November of last year to where it's at now, 0:06:36.760 --> 0:06:39.320 we don't have a d percent to that level. To 0:06:39.360 --> 0:06:41.080 get to the decline, I think it would get to 0:06:41.120 --> 0:06:43.360 about eighteen thousand. Half off the top of my head, 0:06:43.520 --> 0:06:45.560 but about eighteen thousand, So really you could buy it 0:06:45.640 --> 0:06:48.599 at thirty thousand and say maybe lose half. So maybe 0:06:48.640 --> 0:06:51.799 you lose half of it now could go to zero, 0:06:51.880 --> 0:06:54.480 but this is not likely. So let's say you have 0:06:54.600 --> 0:07:01.159 a zero point zero five downside with a twenty two 0:07:01.160 --> 0:07:04.320 times upside. We'll shoot that's pretty attractive. So it's a 0:07:04.360 --> 0:07:07.279 better risk adjested entry. So because of the risk and 0:07:07.400 --> 0:07:09.640 return profile, I can put way more money into it 0:07:09.680 --> 0:07:12.040 today than I could have before. The other thing that 0:07:12.080 --> 0:07:14.560 we know through time is that bitcoin has been the 0:07:14.600 --> 0:07:16.840 best performing asset in history. Now, history is now never 0:07:16.840 --> 0:07:19.800 a guarantee of return, but it's been averaging about two 0:07:20.640 --> 0:07:23.000 annual compounding growth rate. If you zoom out, it's up 0:07:23.000 --> 0:07:25.760 about two in the last twenty four months alone. And 0:07:25.800 --> 0:07:27.160 so because of that, it's one of those assets you 0:07:27.200 --> 0:07:28.800 want to buy and you want to hold. And it's 0:07:28.800 --> 0:07:31.000 also why more people in the United States than ever 0:07:31.640 --> 0:07:35.080 are turning into bitcoin and cryptocurrencies to help fund their retirement. 0:07:36.080 --> 0:07:39.320 Even in light of this recent market crash that we have, 0:07:39.360 --> 0:07:42.600 and I talked about Fidelity, they are now allowing people 0:07:42.600 --> 0:07:44.160 to take their four O one case and put it 0:07:44.240 --> 0:07:47.320 into bitcoin. Uh, and it's happening in fast We can 0:07:47.360 --> 0:07:50.760 see some twenty percent of Americans aged eighteen to sixty. 0:07:51.360 --> 0:07:54.840 Around fifty million people have owned or traded crypto in 0:07:54.880 --> 0:07:57.800 the past six months, according to a poll published by 0:07:57.800 --> 0:08:02.000 the crypto exchange coo cooin Um. Yet older folks are 0:08:02.000 --> 0:08:05.040 more devoted to the young asset class than the general population, 0:08:05.520 --> 0:08:07.400 according to the survey carried out at the end of March, 0:08:07.440 --> 0:08:10.480 with of those age fifty and above but no crypto 0:08:10.640 --> 0:08:13.800 as part of the early retirement plans. So even of 0:08:13.840 --> 0:08:16.800 the people over fifty years old, twenty of them are 0:08:16.880 --> 0:08:21.760 still putting bitcoin into the retirement plans. It's that important. Now. 0:08:21.760 --> 0:08:23.400 There's a couple ways to do that. Of course, obviously 0:08:23.440 --> 0:08:25.520 you can uh just go out and buy it all 0:08:25.520 --> 0:08:27.239 at once. If you have money you have a hundred 0:08:27.280 --> 0:08:29.200 thousands to put it in there, or you could put 0:08:29.240 --> 0:08:32.640 it in over time. It's called dollar cost averaging. Two 0:08:32.640 --> 0:08:36.199 different strategies. And it depends on where you see the future. 0:08:36.679 --> 0:08:38.720 If if you're one of those people who think, should 0:08:38.760 --> 0:08:40.480 I buy it all now or should I wait because 0:08:40.520 --> 0:08:42.880 I'm afraid the price will drop even more, well where 0:08:42.880 --> 0:08:46.520 would the price drop to. Well, historically it probably wouldn't 0:08:46.600 --> 0:08:51.840 drop below about eighteen thousand, Uh even better, Probably twenty 0:08:51.920 --> 0:08:53.880 two thousand might be the low for the cycle. Now, 0:08:53.920 --> 0:08:57.600 anything can happen, right, anything could happen. Um, so could 0:08:57.600 --> 0:08:59.400 it dropped there? It could? And so if you're one 0:08:59.400 --> 0:09:00.960 of those people who want to wait for maybe that 0:09:00.960 --> 0:09:02.720 to happen, well, then maybe what you want to do 0:09:03.600 --> 0:09:05.480 is dollar cost average and maybe put a little bit 0:09:05.520 --> 0:09:08.600 of your money in now in case. Uh, But then 0:09:08.640 --> 0:09:10.160 in case it keeps going down, you can keep buying 0:09:10.200 --> 0:09:12.280 more and you can average in as it goes down. 0:09:12.280 --> 0:09:13.960 But if it turns around and just goes up from here, 0:09:13.960 --> 0:09:16.439 at least you bought some at the lower price. You 0:09:16.520 --> 0:09:19.439 listen to the Mark Ma Show talking about the Decentralized Revolution, 0:09:19.480 --> 0:09:22.040 talking about the way the world is changing with bitcoin 0:09:22.080 --> 0:09:24.440 and crypto. I'll be right back, all right, welcome back. 0:09:24.480 --> 0:09:26.520 You're listening to the Markma Show. We're talking about the 0:09:26.559 --> 0:09:29.680 decentralized Revolution each and every week, talking about the way 0:09:29.760 --> 0:09:32.720 bitcoin and cryptocurrencies are changing the world looking at through 0:09:32.720 --> 0:09:36.240 the lens of politics, technology, and finance. And we were 0:09:36.240 --> 0:09:38.560 talking a lot about obviously, we talking a lot about 0:09:38.559 --> 0:09:42.120 bitcoin and some of the cryptocurrency overall. And I've been 0:09:42.120 --> 0:09:44.559 talking a lot about this big blow up in the 0:09:44.559 --> 0:09:47.960 stable coin market with Tera Luna UM we talked about 0:09:48.000 --> 0:09:51.880 how unfortunately people are losing their life savings and things 0:09:51.920 --> 0:09:54.760 like this UM other stable coins that are trying to 0:09:54.760 --> 0:09:57.200 do some other algorithmic thing and their peg to this 0:09:57.240 --> 0:10:01.520 asset or this asset or whatever. Calm plex things, complex 0:10:01.559 --> 0:10:06.000 things that are untried, untested, likely to fail, and no 0:10:06.040 --> 0:10:08.000 one should ever be put in their life savings into 0:10:08.040 --> 0:10:10.080 these things. And of course people are. They're losing their 0:10:10.080 --> 0:10:13.360 money unfortunately. I've even heard of people committing suicide. Lots 0:10:13.400 --> 0:10:17.800 of lawsuits piling up over this, and we talked about 0:10:17.840 --> 0:10:22.160 these lawsuits before and and uh, I think people want 0:10:22.200 --> 0:10:23.920 the freedom, but they don't want the responsibility, and you 0:10:23.960 --> 0:10:27.960 have to take both. But at the same time, I 0:10:28.000 --> 0:10:31.599 don't like to throw the word around, you know, scam 0:10:31.720 --> 0:10:33.960 or fraud. I don't like to throw that word around lightly. 0:10:34.200 --> 0:10:36.040 I like to I like to use the word for 0:10:36.080 --> 0:10:39.880 what it's intended for. You know, if I buy something 0:10:40.559 --> 0:10:43.520 and you give me something other than what you promised, 0:10:43.600 --> 0:10:45.320 that would be a scam or that would be a fraud. 0:10:46.160 --> 0:10:48.920 And I've talked about before UM. A lot of these 0:10:48.960 --> 0:10:53.240 other cryptocurrencies are a scam and they are a fraud. 0:10:53.880 --> 0:10:57.200 And the reason why I can say that and I 0:10:57.200 --> 0:11:01.280 can back that up is because they are delivering you 0:11:01.400 --> 0:11:04.520 something other than what they've promised to be. A good 0:11:04.520 --> 0:11:09.720 example of this is the newest, the hottest going cryptocurrency 0:11:09.720 --> 0:11:14.200 blockchain out there, and that's Salana. Salana is the venture 0:11:14.280 --> 0:11:17.440 capital Darling. Right, It's raised all this money every VC 0:11:17.640 --> 0:11:20.160 wants to. Any project that's been built on Salona gets, 0:11:20.280 --> 0:11:23.520 you know, hundreds of millions of dollars of funding. You know, 0:11:23.600 --> 0:11:25.800 billions of dollars collectively been raised to invest in this 0:11:25.840 --> 0:11:35.800 ecosystem into what? Into what ecosystem? Oh? Onto its decentralized blockchain. Okay, 0:11:35.840 --> 0:11:39.840 but what if it's not decentralized? Oh? I know, Mark, Mark, 0:11:39.960 --> 0:11:41.760 You're you're, you're you're starting fund right, you don't know 0:11:41.760 --> 0:11:46.520 what you're talking about. Well, let's look at this. Uh 0:11:46.600 --> 0:11:48.800 if we if we will have broken this down deeper before, 0:11:48.840 --> 0:11:50.120 but I want to look at this this new story. 0:11:50.160 --> 0:11:55.400 So this week we see Salana was halted again by 0:11:55.440 --> 0:11:58.640 a bug this time. Alright, so it was halted? What 0:11:58.679 --> 0:12:01.720 does this mean? The salat of network suffered its latest 0:12:01.720 --> 0:12:06.280 outage Wednesday. It failed for over four hours by a 0:12:06.360 --> 0:12:08.760 bug in how the blockchain process is a niche type 0:12:08.760 --> 0:12:14.200 of transactions designed for offline use cases. So Salana Labs, 0:12:16.240 --> 0:12:20.320 the communication chief, Austin Federa, told Coin Desk that those 0:12:20.320 --> 0:12:23.520 transactions remain mixed until developers identified and patch the exact 0:12:23.520 --> 0:12:27.360 culprit that through Salona's consensus mechanism off. So they had 0:12:27.400 --> 0:12:30.880 to pause. They had they had one stop the transactions 0:12:31.880 --> 0:12:36.400 and to shut down the entire blockchain. But wait a minute, 0:12:36.440 --> 0:12:39.760 I thought it was decentralized. What does decentralized mean. Doesn't 0:12:39.760 --> 0:12:45.760 decentralized mean that nobody controls it? Well, if nobody controls it, 0:12:45.760 --> 0:12:51.559 then how does Salona Labs chief Austin get the developers 0:12:51.600 --> 0:12:54.959 to stop processing transactions and shut down the whole network? 0:12:55.440 --> 0:12:57.520 See how that works? Let me let me let me 0:12:57.600 --> 0:13:01.439 let me back up a little bit. Here. We have databases. 0:13:02.160 --> 0:13:04.400 We have lots of databases. The Internet has changed the 0:13:04.400 --> 0:13:07.160 world and we have these computer databases and these the Internet, 0:13:07.440 --> 0:13:10.560 uh can pullug in these databases. So Facebook has a 0:13:10.640 --> 0:13:13.400 database and it's in their you know server farm, probably 0:13:13.400 --> 0:13:16.720 in Menlo Park or whatever. Um and you have, you know, 0:13:16.800 --> 0:13:19.120 Experience has this database and it's in their server. And 0:13:19.120 --> 0:13:21.880 there's an I I T team that tries to secure 0:13:21.920 --> 0:13:25.520 it and keep it secure, cybersecurity team, etcetera. And they 0:13:25.520 --> 0:13:27.880 get hacked all the time, right, and so the cybersecurity 0:13:27.920 --> 0:13:30.040 teams they can't keep it safe. Now, um, we have 0:13:30.120 --> 0:13:33.839 a brand new technological revolution different than the technology. A 0:13:33.920 --> 0:13:36.960 technology is something cool, like an iPhone. That's a new technology. 0:13:37.080 --> 0:13:38.920 We took a computer, we took a phone, we put 0:13:38.960 --> 0:13:42.760 them together. Cool. A technological revolution is something that changes 0:13:42.800 --> 0:13:47.160 the course of humanity and drives financial markets. So there's 0:13:47.160 --> 0:13:51.360 been five industrial revolution uh, steel, steam, steam engines, the railway, 0:13:51.440 --> 0:13:56.600 steel electricity, oil, automobiles, mass production, and microprocessors. Each one 0:13:56.640 --> 0:13:58.680 of those has driven financial markets. And here we are. 0:13:59.080 --> 0:14:02.480 The new technology revolution is decentralization. So instead of having 0:14:02.600 --> 0:14:05.840 centralized databases like Facebook or Experience that could hack all 0:14:05.840 --> 0:14:09.720 the time, we have decentralized which means instead of one database, 0:14:10.160 --> 0:14:14.720 there's thousands or millions of databases. And so instead of 0:14:14.920 --> 0:14:17.959 one person or one company or one group controlling the 0:14:18.040 --> 0:14:23.800 database the ledger, now nobody controls it because everybody controls it. 0:14:24.160 --> 0:14:26.440 And in order for the network to change or proven 0:14:26.520 --> 0:14:29.960 upgrade whatever, it has to achieve consensus. And that means 0:14:30.000 --> 0:14:33.280 over half of the network has to agree. Now, if 0:14:33.520 --> 0:14:36.400 we have three of these databases and I control all three, 0:14:36.720 --> 0:14:39.560 is it really decentralized. If we have three and I 0:14:39.680 --> 0:14:42.280 control one, my wife controls one, of my daughter controls one, 0:14:42.360 --> 0:14:45.600 is that really decentralized, right? And so really it's it's 0:14:45.640 --> 0:14:49.120 decentralized when there's enough spread, when there's enough databases and 0:14:49.160 --> 0:14:52.200 there's no more control, when no one person or entity 0:14:52.240 --> 0:14:55.280 can control that network like bitcoin. So Bitcoin doesn't have 0:14:55.320 --> 0:14:59.560 a chief, there's no chief, there's no group, um, there's 0:14:59.600 --> 0:15:02.080 none of that. There's no CEO to get brought up 0:15:02.080 --> 0:15:05.320 on charges or bring in for questioning. And so because 0:15:05.320 --> 0:15:07.880 of that, there's no one that can shut down the network. 0:15:08.080 --> 0:15:10.760 There's no company, there's no chief, there's no labs um, 0:15:10.800 --> 0:15:13.320 there's no government that can shut it down. Why because 0:15:13.320 --> 0:15:16.800 there's so many databases that are controlled by all these 0:15:16.800 --> 0:15:19.560 individual people like myself running my own note in my 0:15:19.560 --> 0:15:22.040 own database. But you can't do that, you can't run 0:15:22.040 --> 0:15:24.760 a note in a database with Salana. And so because 0:15:24.760 --> 0:15:28.200 of that, Salona Labs is able to stop transactions and 0:15:28.320 --> 0:15:31.600 is able to shut down. Now, this has happened multiple times. 0:15:31.640 --> 0:15:33.480 This is not the first time that's happened, and we 0:15:33.520 --> 0:15:35.720 can see this really in the price pretty well. So 0:15:35.760 --> 0:15:38.520 we can see at the beginning of the year if 0:15:38.560 --> 0:15:41.880 we look here today here, at the beginning of the year, 0:15:42.000 --> 0:15:44.440 the price of Salona the token was a hundred and 0:15:44.480 --> 0:15:50.600 seventy five. Today it's forty and so people are starting 0:15:50.600 --> 0:15:52.120 to wake up to this. Wait a minute, what is 0:15:52.160 --> 0:15:55.520 this thing? It's not decentralized. If it's decentralized, how do 0:15:55.600 --> 0:15:58.320 they keep shutting it down over and over and over. 0:15:59.400 --> 0:16:03.400 How can you build a financial network that keeps having 0:16:03.440 --> 0:16:05.480 bugs and keeps getting shut down over and over and over. 0:16:06.440 --> 0:16:09.880 What if you need to run transactions? Now, I'll let 0:16:09.880 --> 0:16:11.840 you know that the Bitcoin network has achieved like a 0:16:11.920 --> 0:16:16.880 ninety nine uptime, meaning when it first launched, in the 0:16:17.000 --> 0:16:19.200 very first days, there was a little blood bug they 0:16:19.200 --> 0:16:22.160 found and they fixed, and since that time it has 0:16:22.400 --> 0:16:27.040 never never gone down, never had a bug. And there's 0:16:27.040 --> 0:16:28.920 no other network in the world I believe that can 0:16:28.960 --> 0:16:31.440 make that claim, and definitely not Salana. It could shut 0:16:31.440 --> 0:16:33.960 down all the time. And my point going back to, 0:16:34.360 --> 0:16:38.000 is is it a scam? If they tell you it's 0:16:38.000 --> 0:16:41.240 a decentralized network and it's not, is that a fraud? 0:16:42.080 --> 0:16:43.320 I don't know. Let me hear what you have to say. 0:16:43.320 --> 0:16:45.360 You can hit me up on Twitter at one Mark 0:16:45.440 --> 0:16:48.400 Moss or on Instagram at one Mark Moss. I'd love 0:16:48.400 --> 0:16:50.360 to hear from more of you guys, so feel free 0:16:50.400 --> 0:16:52.600 to let me know on that specifically. Is it a 0:16:52.600 --> 0:16:54.760 scam if they tell you it's decentralized and it's not. Now, 0:16:54.880 --> 0:16:57.520 what we know is that the world values decentralized networks 0:16:57.520 --> 0:17:01.080 like Bitcoin right it was, it's a five six billion 0:17:01.080 --> 0:17:05.200 dollar valuation. And we also know the world values centralized 0:17:05.280 --> 0:17:08.280 databases experience Facebook, They're worth a lot of money. So 0:17:08.320 --> 0:17:10.879 we know there's a value for centralized databases, and we 0:17:10.920 --> 0:17:14.960 know there's value for decentralized databases. Is their value in 0:17:15.040 --> 0:17:19.600 a decentralized ISH database? And what will be the point 0:17:19.600 --> 0:17:22.679 of a decentralized ish You can think of it quickly. 0:17:22.720 --> 0:17:24.719 Anytime you hear the word block changes, substitute in your 0:17:24.720 --> 0:17:29.200 mind the word slow inefficient database. So we want fast databases. 0:17:29.400 --> 0:17:30.680 The only reason that we willing to have a very 0:17:30.680 --> 0:17:33.159 slow and efficient one is if it's the most secure 0:17:33.160 --> 0:17:36.160 and most decentralized. But if it's not, what's the point 0:17:36.320 --> 0:17:39.440 then we'll find out. But i'd love to hear your perspective. 0:17:39.440 --> 0:17:41.240 Like I said, hit me up on Twitter, Instagram at 0:17:41.480 --> 0:17:43.560 one Mark Moss and let me know what you think. 0:17:44.119 --> 0:17:47.560 You're listening to the markmas Show talking about the decentralized Revolution, 0:17:47.560 --> 0:17:50.240 talking about the way bitcoin and cryptocurrencies are changing the 0:17:50.280 --> 0:17:53.159 world as we see it in every area. And we 0:17:53.160 --> 0:17:55.359 talked about a lot different subjects because it is changing 0:17:55.359 --> 0:17:57.280 the world. We talk about fixed the money, fix the 0:17:57.280 --> 0:17:59.440 world is that big. Let me know what you think 0:17:59.440 --> 0:18:01.159 about this. I got a lot more to cover when 0:18:01.200 --> 0:18:03.320 I come back in a second, so do not go away. 0:18:03.880 --> 0:18:06.000 I'll be right back, all right, Welcome back. You are 0:18:06.000 --> 0:18:08.119 listening to the Mark mo Show talking about the de 0:18:08.440 --> 0:18:12.399 centralized revolution, talking about it, talking you through it, because 0:18:12.440 --> 0:18:14.120 the world is going through it. That's why the world 0:18:14.160 --> 0:18:16.600 is so crazy right now. And if you understand this, 0:18:16.800 --> 0:18:18.560 everything just starts getting more clear. We look at it 0:18:18.600 --> 0:18:21.560 through the lens of politics, finance, and technology, all converging, 0:18:21.640 --> 0:18:25.080 the three revolutionary cycles converging we talked about all the time, 0:18:26.200 --> 0:18:27.400 and so we want to look at it from all 0:18:27.400 --> 0:18:30.400 those different angles, all those different perspectives, to get this dynamic, 0:18:30.480 --> 0:18:32.919 holistic view so we can understand it, so we can 0:18:32.960 --> 0:18:35.959 of course be better prepared for what's happening. One thing 0:18:36.000 --> 0:18:40.200 we saw this week was maybe one of the most 0:18:40.240 --> 0:18:44.600 powerful people in the world. Um, non elected. I'm not 0:18:44.600 --> 0:18:49.320 talking about the president, UM, I am talking about Jamie Diamond. Now, 0:18:49.400 --> 0:18:53.320 Jamie Diamond is the head of JP Morgan, arguably the 0:18:53.359 --> 0:18:56.199 most powerful banking institution United States, which, of course the 0:18:56.240 --> 0:18:58.880 dollars reserve currency of the world. So Jamie Diamond has 0:18:59.280 --> 0:19:02.520 massive or over the banking system, of course, the federal 0:19:02.600 --> 0:19:05.480 reserve system, which of course is the economy and the 0:19:05.520 --> 0:19:08.320 world as well. And so when Jamie Diamond talks, a 0:19:08.359 --> 0:19:11.840 lot of people listen and uh, I listen. UM, I 0:19:11.880 --> 0:19:15.520 don't always agree. For example, in Jamie Diamond said that 0:19:15.520 --> 0:19:18.159 bitcoin is a scam, it's a fraud. He said that 0:19:18.280 --> 0:19:21.840 if anybody at JP Morgan traded bitcoin, they would be fired. 0:19:21.960 --> 0:19:25.159 That's what he said. So you know, I listened, I 0:19:25.160 --> 0:19:27.960 didn't agree. Um. Sometimes I listen, sometimes I don't agree. 0:19:27.960 --> 0:19:29.840 Sometimes I listen and I do agree. And he said 0:19:29.840 --> 0:19:32.840 this week that, um. J He said that JP Morgan 0:19:33.000 --> 0:19:37.840 is bracing itself get ready, brace for the impact of 0:19:37.880 --> 0:19:43.880 an economic hurricane. He says that the FEDS actions are 0:19:43.920 --> 0:19:49.560 creating an unprecedented challenge, but it's still too soon to 0:19:49.560 --> 0:19:52.679 say how intense the storm will be. But he warned 0:19:52.680 --> 0:19:56.600 investors to prepare for an economic quote hurricane as the 0:19:56.640 --> 0:20:03.120 economy struggles on against an unprecedented combination of challenges, including 0:20:05.240 --> 0:20:11.000 tightening monetary policies and the Russia invasion of Ukraine. So 0:20:11.119 --> 0:20:14.080 two of those. Um, the economy struggles against unpresident combination 0:20:14.080 --> 0:20:18.520 of challenges. So the tightening monetary policy. Okay, so without 0:20:18.520 --> 0:20:19.960 going super deep into this guy to talk about all 0:20:19.960 --> 0:20:24.720 the time, but that's like a self inflicted problem, the 0:20:24.800 --> 0:20:30.280 struggling against um monterary tightening. But why are we tightening 0:20:30.440 --> 0:20:35.879 monetary policy? Oh, well because of inflation, mark right, Um, 0:20:35.920 --> 0:20:39.920 but what caused the inflation? Oh the loose monetary policy. 0:20:40.040 --> 0:20:42.679 And see how all these booms and bus are because 0:20:42.720 --> 0:20:45.480 we have a loose monetary policy to stimulate the economy 0:20:45.520 --> 0:20:47.600 and then it gets overly stimulated and so then we 0:20:47.640 --> 0:20:51.879 have to then tighten it back up. It's like, uh, 0:20:51.960 --> 0:20:53.879 I don't know if it's like this, but like you know, 0:20:53.960 --> 0:20:56.399 taking taking stimulants in the morning to wake up and 0:20:56.400 --> 0:20:58.800 then taking sleeping bills at night. I think that's how 0:20:58.800 --> 0:21:01.719 Elvis Presley died. Taking uppers and downers. Uppers and downers, 0:21:01.760 --> 0:21:03.359 and that's kind of what happens with the market. And 0:21:03.400 --> 0:21:05.960 the problem is those uppers and downers they work less 0:21:05.960 --> 0:21:07.320 and less and less, so you need more and more 0:21:07.320 --> 0:21:09.119 and more of them, and so then it creates a 0:21:09.119 --> 0:21:12.080 real problem. And Elvis Presley died and so correct me 0:21:12.119 --> 0:21:13.760 if I'm wrong, by the way, I think that's the story. 0:21:13.800 --> 0:21:15.679 I'm not old enough to really remember. Hit me up 0:21:15.680 --> 0:21:17.760 on social media at one, Mark Moss and let me know. 0:21:18.400 --> 0:21:22.240 But let's let's just let's just go with that, right, 0:21:22.320 --> 0:21:23.639