WEBVTT - The Mark Moss Show Feb 23, 2022 0:00:00.080 --> 0:00:02.960 Everyone, welcome back. You are listening to the Mark Moas Show. 0:00:02.960 --> 0:00:06.960 We're talking about the decentralized revolution that is happening right now, 0:00:07.000 --> 0:00:08.960 the one that we're living through. We're talking about bitcoin, 0:00:08.960 --> 0:00:13.200 we're talking about cryptocurrencies. We're talking about the intersection between 0:00:13.280 --> 0:00:17.600 politics and finance and technology as it's changing the world 0:00:17.640 --> 0:00:20.120 that we're living in now. I'm with each and every 0:00:20.120 --> 0:00:22.400 week trying to keep you up to date because this 0:00:22.600 --> 0:00:25.119 is moving so fast, and it's so it's moving so fast, 0:00:25.120 --> 0:00:27.560 and it's so important for you to understand, so important 0:00:27.560 --> 0:00:29.960 for you to understand because this will be the biggest 0:00:29.960 --> 0:00:31.960 opportunity of your life. You can either take advantage or 0:00:31.960 --> 0:00:34.839 you can be left behind. And so I urge you. 0:00:35.120 --> 0:00:37.519 I welcome you. I ask you to tune in each 0:00:37.560 --> 0:00:39.760 and every week. UM put a reminder on your calendar 0:00:39.760 --> 0:00:41.519 for this date, this time, this channel to make sure 0:00:41.640 --> 0:00:43.519 you tune in with me. Try to bring you the 0:00:43.720 --> 0:00:46.280 education that you need so you can get the right perspective. 0:00:46.320 --> 0:00:48.120 I'd bring you the latest breaking news to you know 0:00:48.159 --> 0:00:50.480 what's going on, and then I bring you some interesting 0:00:50.520 --> 0:00:54.000 people to hear from each end every week, and you 0:00:54.000 --> 0:00:58.960 know this is changing, it's changing really fast. And you know, 0:00:59.240 --> 0:01:02.440 an old them doesn't die without a fight. Um. There's 0:01:02.480 --> 0:01:06.560 something known as creative destruction, and that means that when 0:01:06.640 --> 0:01:09.800 something new is created, it destroys the old way. It's 0:01:09.840 --> 0:01:11.760 kind of like a forest fire. The forest fire, you 0:01:11.800 --> 0:01:14.000 kind of gotta burn the underbrush so that the new 0:01:14.080 --> 0:01:17.600 growth can come. It's kind of like Kodak, the company 0:01:17.640 --> 0:01:19.319 that made film. If you're young, you may not know 0:01:19.360 --> 0:01:22.720 about Kodak, but Kodak was over a hundred year old 0:01:22.720 --> 0:01:26.080 company that made film for cameras. And we don't use 0:01:26.160 --> 0:01:30.280 film and cameras anymore today. We have digital cameras, and 0:01:30.319 --> 0:01:34.800 so the digital camera destroyed Kodak, a film company, a 0:01:34.840 --> 0:01:37.440 hundred year old film company, and that's what creative destruction 0:01:37.520 --> 0:01:40.400 is now. Typically what happens is those incumbents, those those 0:01:40.440 --> 0:01:42.640 companies that are in place, or that that system that's 0:01:42.640 --> 0:01:46.720 in place doesn't want to go away. Especially in today's 0:01:46.800 --> 0:01:48.960 day and age. We're not in a capitalist society. We're 0:01:48.960 --> 0:01:51.080 in a chrony society. And so what we have is 0:01:51.120 --> 0:01:54.280 these big companies use the government to make laws to 0:01:54.360 --> 0:01:59.520 protect themselves and protect themselves from new companies out innovating them. 0:01:59.520 --> 0:02:02.000 It's not not a good situation to be in. But 0:02:02.240 --> 0:02:04.040 these old systems they don't want to die hard. And 0:02:04.080 --> 0:02:08.799 so we have this monopoly on money and stores of 0:02:08.919 --> 0:02:11.360 stores of value and medium exchange that the governments have, 0:02:12.639 --> 0:02:16.120 and uh, we have technology, and technology is changing things 0:02:16.120 --> 0:02:17.639 and it just is what it is. It's not it's 0:02:17.639 --> 0:02:20.640 not it's not about politics. It just is what it is. 0:02:20.680 --> 0:02:23.639 So for example, um, if I used to want to 0:02:23.639 --> 0:02:25.520 listen to Beethoven hundred years ago, I'd have to get 0:02:25.520 --> 0:02:29.760 a whatever, a thirty or fifty person orchestra. Right, that's 0:02:29.760 --> 0:02:31.600 just what that's what I have to do. And then 0:02:31.600 --> 0:02:34.040 eventually we had records, and then we had CDs, and 0:02:34.120 --> 0:02:37.360 now I have every music in the world is just 0:02:37.440 --> 0:02:40.600 available to be streamed on my phone. That wasn't about politics, 0:02:40.639 --> 0:02:42.800 that was just technology. I used to have to go 0:02:42.840 --> 0:02:44.080 to a library, used to have to go to all 0:02:44.160 --> 0:02:46.000 kinds of libraries are the biggest libraries in the world 0:02:46.040 --> 0:02:49.200 to find certain books, and today they're just all on 0:02:49.240 --> 0:02:52.480 my phone. I used to have have had walls and 0:02:52.520 --> 0:02:55.080 walls and walls of like photo albums, and now today 0:02:55.120 --> 0:02:58.440 they're just all in my computer. And we used to 0:02:58.440 --> 0:03:00.720 have piles and piles of gold and stacks and stacks 0:03:00.720 --> 0:03:04.960 of cash and now it's just digital. It's not it's 0:03:04.960 --> 0:03:09.000 not politics, it's just it's just it's just technology. It's creative, 0:03:09.360 --> 0:03:12.440 it's creative destruction. But it doesn't go down without a fight. 0:03:12.720 --> 0:03:15.400 And so it's pretty interesting. And when we're seeing how 0:03:15.440 --> 0:03:18.000 how it's working with these nation states wanting to UM 0:03:18.080 --> 0:03:21.640 fight this UM. China is one of the one of 0:03:21.639 --> 0:03:24.320 the first nations to really jump onto these digital currencies. 0:03:24.320 --> 0:03:26.440 Of course, they rolled out their own central bank digital 0:03:26.440 --> 0:03:29.079 currency UM. They've been testing it for about a year 0:03:29.080 --> 0:03:31.760 and a half, but they had a full scale rollout 0:03:31.919 --> 0:03:35.080 at the Beijing Winter Olympics. That's been going on. It's 0:03:35.120 --> 0:03:37.600 been pretty interesting to watch what's going on there. And 0:03:37.640 --> 0:03:43.520 they report that digitally want transactions beat out visa transactions 0:03:43.560 --> 0:03:47.000 at the Winter Olympics, which is pretty big. They've already 0:03:47.000 --> 0:03:50.440 got more people using them than that says replacing cash 0:03:50.440 --> 0:03:53.360 with digital one for payment can effectively reduce direct contact 0:03:53.400 --> 0:03:56.480 between people and the risk of spread of COVID nineteen 0:03:56.840 --> 0:03:59.680 end quote. So they're really pushing this like, hey, we 0:03:59.720 --> 0:04:02.280 should be having the Olympics. It's dangerous, we're in a 0:04:02.400 --> 0:04:06.000 pandemic and blah blah blah, and uh, you know cash 0:04:06.080 --> 0:04:08.800 is dirty, so why don't we use central make digital currencies? 0:04:09.040 --> 0:04:12.160 And it worked out pretty good, and we can see, 0:04:12.160 --> 0:04:14.840 like I said, that it is UM, it's it's it's 0:04:15.000 --> 0:04:18.600 it's outpacing VISA at this point. So China has completely 0:04:18.960 --> 0:04:21.840 embraced it UM. We were talking about in an earlier 0:04:21.880 --> 0:04:25.960 segment how in Canada they're trying to UM really censor 0:04:26.000 --> 0:04:29.240 it US specifically if you give any cryptocurrencies to what 0:04:29.320 --> 0:04:31.880 they considered dissident groups UM, which used to be okay, 0:04:31.920 --> 0:04:34.000 it's not anymore UM. And in the United States were 0:04:34.000 --> 0:04:36.120 starting to see the same thing. So we saw a 0:04:36.120 --> 0:04:39.560 few weeks ago UM the Biden administration UM came out 0:04:39.600 --> 0:04:41.800 with UM. They said that they are going to have 0:04:41.839 --> 0:04:45.240 an executive order to regulate cryptocurrency. So it was like 0:04:45.279 --> 0:04:47.440 an announcement of announcement. They didn't tell us what the 0:04:47.480 --> 0:04:49.719 executive order was or what they were going to do 0:04:49.720 --> 0:04:50.880 with it. They just told us that they were going 0:04:50.920 --> 0:04:52.880 to have one and it was gonna do something. And 0:04:52.920 --> 0:04:54.920 then at the same time, we saw the Treasury and 0:04:55.000 --> 0:04:56.760 Janet Yellen come out and say that they had an 0:04:56.800 --> 0:05:00.400 unlimited budget to go regulate cryptocurrencies. Again, don't know what 0:05:00.440 --> 0:05:04.159 that means. But as we're watching this, we're seeing a 0:05:04.200 --> 0:05:08.000 lot of other things happening. So, for example, we saw 0:05:08.080 --> 0:05:13.880 this week uh U S Congressman Warren Davidson introduced a 0:05:13.960 --> 0:05:17.680 bill called quote Keep Your Coins Act. So you, as 0:05:17.680 --> 0:05:21.040 Congressman Warren Davidson, he's a Republican from Ohio, introduced legislation 0:05:21.160 --> 0:05:24.360 entitled to Keep Your Coins Act UM in the wake 0:05:24.440 --> 0:05:28.960 of mounting concerns over crackdowns on civil liberties in Canada 0:05:29.560 --> 0:05:33.320 as private companies in the Canadian government leverage control of 0:05:33.360 --> 0:05:38.840 the legacy financial system. M So we have a Congressman 0:05:39.320 --> 0:05:42.160 Warren Davidson, I applaud you UM, and he says that 0:05:42.680 --> 0:05:45.160 Keep the Coins Act because of the concerns on the 0:05:45.240 --> 0:05:48.560 crackdown on civil liberties and so what some people are 0:05:48.560 --> 0:05:52.200 afraid of is that UM, bitcoin and cryptocurrencies are revolutionary 0:05:52.200 --> 0:05:54.080 for lots of reasons. One of the reasons is because 0:05:54.160 --> 0:05:57.000 I can custody my own coins. That means I can 0:05:57.040 --> 0:05:59.200 control them. And if I can control them, UM, the 0:05:59.200 --> 0:06:01.320 bank can't just see ease them. Right, So in in 0:06:01.400 --> 0:06:05.040 Canada um UM. Trudeau said that any truckers that are 0:06:05.080 --> 0:06:07.479 there in the protests, they're gonna seize their bank accounts, 0:06:07.920 --> 0:06:09.360 and they can do that. They put the put the 0:06:09.400 --> 0:06:10.560 push off a button. They just take the money in 0:06:10.600 --> 0:06:12.880 your account. It's not yours anymore. But if I have 0:06:13.000 --> 0:06:14.679 my money on my own, if I had to cash 0:06:14.680 --> 0:06:17.000 in my mattress, they couldn't just take my cash, right 0:06:17.240 --> 0:06:19.720 And if I have my cryptocurrencies, they couldn't take that either. 0:06:20.040 --> 0:06:22.600 And so one of the choke points, one of the 0:06:22.640 --> 0:06:24.760 weak points is that they think that government could say 0:06:24.800 --> 0:06:28.479 you can't You're not allowed to custody your own coins anymore, 0:06:28.800 --> 0:06:31.520 which seems completely ridiculous and it seems like a North 0:06:31.600 --> 0:06:37.400 Korea authoritarian edict um. I mean, I don't I'm not 0:06:37.480 --> 0:06:41.160 legally able to store my own wealth like what like, 0:06:41.240 --> 0:06:42.400 I have to leave it in a bank so you 0:06:42.400 --> 0:06:44.400 can seize it whenever you want. That doesn't seem right 0:06:44.440 --> 0:06:46.720 to me. And that's why it seems like they're doing 0:06:46.720 --> 0:06:49.880 their own doing bitcoin the marketing for them. But it says, 0:06:49.880 --> 0:06:52.200 if pass this bill would prevent any agency head from 0:06:52.200 --> 0:06:57.200 prohibiting or otherwise restricting the ability of a covered user 0:06:57.480 --> 0:07:00.400 to use virtual currency or its equivalent for such users 0:07:00.440 --> 0:07:03.320 own purposes, such as to purchase real or virtual goods 0:07:03.400 --> 0:07:08.640 or services and users own use UM or conduct transactions 0:07:08.640 --> 0:07:14.280 through a self hosted wallet UM, so, he says, Davidson says. 0:07:14.800 --> 0:07:17.280 Davidson says, we started working on the text after it 0:07:17.320 --> 0:07:20.280 was obvious that Secretary Yelling Janet Allen the US Treasury 0:07:20.560 --> 0:07:24.040 would resurrect the effort to restrict self custody. If they 0:07:24.080 --> 0:07:26.800 can't stop crypto, they want to try to move it 0:07:26.920 --> 0:07:30.880 to an account based system. That's what Davidson says. So 0:07:31.080 --> 0:07:32.880 what he's saying is that if they can't stop it, 0:07:32.920 --> 0:07:34.920 which of course they can't, what they want to do 0:07:34.960 --> 0:07:36.640 is say, well, you're not allowed to hold it on 0:07:36.680 --> 0:07:38.920 your own. We have you have to allow us to 0:07:39.000 --> 0:07:41.320 hold it for you. Of Course, the problem with that 0:07:41.440 --> 0:07:44.000 is what we saw when gold used to be money. 0:07:45.040 --> 0:07:48.000 Up until ninety three, gold was big and heavy and 0:07:48.040 --> 0:07:49.440 hard to move around. So I just put it in 0:07:49.520 --> 0:07:52.240 the bank and the bank gave me a gold Certificate UM, 0:07:52.240 --> 0:07:54.800 which was an IOU for the gold UM. And then 0:07:54.800 --> 0:07:58.680 in nineteen thirty three they enacted something called a bank holiday. 0:07:58.720 --> 0:08:00.680 The bank shut down for a week. When they open 0:08:00.760 --> 0:08:03.920 the banks back up, you weren't allowed to get your 0:08:03.920 --> 0:08:07.520 gold out anymore. And the reason why is because they 0:08:07.560 --> 0:08:10.760 printed way more paper gold certificates than they had gold 0:08:10.760 --> 0:08:13.160 in the bank. And so if they held your crypto 0:08:13.520 --> 0:08:15.800 and used an account based system, how do we know 0:08:15.840 --> 0:08:18.040 that they're not just creating a bunch more crypto. Of 0:08:18.080 --> 0:08:21.680 course we don't, which is the exact problem we're trying 0:08:21.720 --> 0:08:23.960 to solve. Um. He went on to say, we shouldn't 0:08:24.040 --> 0:08:26.200 use money as a way of controlling people. Of course, 0:08:26.240 --> 0:08:28.640 if there's criminal activity, you should go after that, which 0:08:28.640 --> 0:08:30.800 I agree. Right, if there's criminal activity, then then go 0:08:30.880 --> 0:08:33.640 after the criminals. But imagine if the same things were 0:08:33.640 --> 0:08:36.800 done to a crowdfunded BLM movement, that wouldn't be okay. 0:08:37.120 --> 0:08:40.480 It's not okay with the Freedom Convoy either, end quote. 0:08:40.920 --> 0:08:43.640 And so we shouldn't use money to control people. Control 0:08:43.679 --> 0:08:47.199 people with laws if they do something illegal, punish them 0:08:47.200 --> 0:08:49.520 for that, but don't control them with the money that's 0:08:49.520 --> 0:08:51.800 their own property. I'll be back with more in a second. 0:08:51.920 --> 0:08:54.320 Don't go away, Hey, welcome back. You are listening to 0:08:54.400 --> 0:08:57.400 the Mark mo Show. We're talking about the decentralized revolution. 0:08:57.440 --> 0:09:02.160 We're talking about the interest action of politics, finance and 0:09:02.200 --> 0:09:05.360 technology together, which of course is bitcoin leading this decentralized 0:09:05.360 --> 0:09:08.360 revolution and I'm bringing you the latest breaking news of 0:09:08.360 --> 0:09:11.240 the week right now. We were just talking about um 0:09:11.720 --> 0:09:15.040 U S Congressman Warren Davidson introducing a bill to Keep 0:09:15.200 --> 0:09:18.360 Your Coins Act, which is basically making a law where 0:09:18.400 --> 0:09:21.560 you're allowed to control your own cryptocurrency in your own 0:09:21.600 --> 0:09:23.600 wallet and they can't pass a law to take that 0:09:23.640 --> 0:09:28.000 away from you, which is, UM kind of ridiculous in 0:09:28.000 --> 0:09:30.680 a way. UM, we have to pass a lot to 0:09:30.720 --> 0:09:35.480 prevent more laws. Oh man, it's like they pass a lot, 0:09:35.520 --> 0:09:37.560 they don't ever repeal law. They just passed another law 0:09:37.600 --> 0:09:40.000 to you know, contradict the first law. I mean, it's 0:09:40.000 --> 0:09:41.680 all ridiculous. I mean, I thought we lived in the 0:09:41.720 --> 0:09:43.400 land of the free, um, but we have to pass 0:09:43.400 --> 0:09:45.280 a lot to allow us to have our own property 0:09:45.720 --> 0:09:47.679 either way. UM, I guess if that's where we're at, 0:09:47.720 --> 0:09:49.480 that's where we're at. And UH, I think it's pretty 0:09:49.520 --> 0:09:52.360 cool that he is doing that. So hat tip to 0:09:52.559 --> 0:09:56.240 UH Congressman Warren Davidson. But what I was talking about 0:09:56.280 --> 0:09:58.800 in UH in the bigger picture of things is that 0:09:59.120 --> 0:10:02.079 in times when we of these technology shifts, this uh 0:10:02.440 --> 0:10:05.280 creative destruction as I was calling it. UM, you know, 0:10:05.360 --> 0:10:08.760 the incumbent system doesn't want to give it up, right, 0:10:08.800 --> 0:10:10.720 they want to fight it. And so we've seen this 0:10:10.800 --> 0:10:13.120 obviously like Uber is a good example of that. So 0:10:13.160 --> 0:10:16.840 as Uber was changing the taxi system and rideshare system, 0:10:16.880 --> 0:10:21.640 the taxi industries themselves were fighting against Uber and they 0:10:21.679 --> 0:10:23.560 were going to the cities and they were trying to 0:10:23.600 --> 0:10:27.280 pass laws to prevent Uber from coming in. Or Airbnb, 0:10:27.440 --> 0:10:30.120 same thing. So you have the big hotel companies were 0:10:30.160 --> 0:10:33.520 going and trying to create laws and regulations and cities 0:10:33.559 --> 0:10:36.839 to prevent you know, Airbnbs and things like that, and so, um, 0:10:36.920 --> 0:10:38.880 that's just what happens and that and that's exactly what's 0:10:38.880 --> 0:10:42.160 happening here. And so as this incumbent financial system, which 0:10:42.160 --> 0:10:44.679 of course is much bigger than the taxi industry or 0:10:44.760 --> 0:10:48.280 the hotel industry, we're talking about the governments that control money, 0:10:48.440 --> 0:10:50.000 and of course they want to they're gonna want to 0:10:50.040 --> 0:10:52.600 control that, um. And so that's why, as we talked 0:10:52.640 --> 0:10:54.240 about before the break, you know, the Biden admant said 0:10:54.240 --> 0:10:56.760 they're going to create an executive order to regulate it, 0:10:56.800 --> 0:10:59.080 and we saw Jenny Allen's Treasury is gonna have unlimited 0:10:59.080 --> 0:11:01.720 budget to fight that. But what's interesting is as the 0:11:01.800 --> 0:11:07.560 federal government is continuing to try to um get more 0:11:07.640 --> 0:11:11.800 power to keep their positions, and of course the money 0:11:11.840 --> 0:11:13.760 is federally, so of course the federal government's doing that. 0:11:14.000 --> 0:11:16.599 We're seeing the states starting to push back against that, 0:11:16.640 --> 0:11:20.000 and so that's why you know, Rep. Warren Davidson from 0:11:20.080 --> 0:11:23.840 Ohio introduced that bill. We also saw this week we 0:11:23.880 --> 0:11:28.280 saw in Colorado, Colorado governor says he expects state to 0:11:28.400 --> 0:11:33.960 accept tax payments in cryptocurrencies by the summer. Jared Paulus, 0:11:34.000 --> 0:11:36.880 who's the governor of Colorado, announced that the state government 0:11:36.880 --> 0:11:39.840 plans to allow residents to pay taxes and cryptocurrencies as 0:11:39.920 --> 0:11:45.559 early as summer um and it was in a CNBC 0:11:45.640 --> 0:11:48.320 in an interview, he said that crypto holders in Colorado 0:11:48.360 --> 0:11:51.680 could have the option of sending tax payments in digital currencies, 0:11:52.320 --> 0:11:55.000 and quoting him, he said, we expect by this summer 0:11:55.000 --> 0:11:58.040 pretty soon to accept crypto for all our state tax 0:11:58.080 --> 0:12:01.480 related purposes. Then we plan to roll that out across 0:12:01.679 --> 0:12:05.520 all of state governments for things like um driver's license 0:12:05.679 --> 0:12:09.520 or hunting license within a few months after that end. Quote. 0:12:10.440 --> 0:12:12.959 Um So, while we have the federal government trying to 0:12:13.000 --> 0:12:15.839 crack down on it, the federal government said they want 0:12:15.840 --> 0:12:20.440 to regulate it. Um, we have states like Davidson in Ohio, 0:12:20.800 --> 0:12:23.719 like Jared Paula is the governor of Colorado, saying no, no, no, 0:12:23.720 --> 0:12:25.400 no, no no, no, no no, you're not going to regulate. 0:12:25.400 --> 0:12:28.240 As a matter of fact, we're going to make it 0:12:28.480 --> 0:12:31.360 um legal. We're gonna open it up for everything. You 0:12:31.400 --> 0:12:33.800 can pay all your fees on it. You can pay 0:12:33.800 --> 0:12:36.640 for your driver's license, your hunting license with it. And 0:12:36.720 --> 0:12:39.040 you know, in the United States, specifically the United States, 0:12:39.960 --> 0:12:42.559 I was talking about an earlier Segmentum, in a democracy, 0:12:42.559 --> 0:12:44.880 we should hear the voice of the people. The United 0:12:44.920 --> 0:12:47.840 States is not a democracy. The United States is a 0:12:47.880 --> 0:12:51.640 republic now, uh. And what that means we have a 0:12:51.679 --> 0:12:54.200 representative government. And what that means that the states have 0:12:54.360 --> 0:12:57.360 states rights, and so the states are able to do 0:12:57.400 --> 0:13:00.600 these things um, or they should be able to and 0:13:00.600 --> 0:13:03.240 we'll see how that plays off. UM. Now, you know 0:13:03.320 --> 0:13:05.839 paulas the governor of Colorado, he's been kind of working 0:13:05.840 --> 0:13:08.400 on this for a while. Back in two thousand nineteen, 0:13:08.440 --> 0:13:12.120 he signed the Colorado Digital Token Act put that into law, 0:13:12.320 --> 0:13:15.600 and basically he aimed to exempt tokens um with a 0:13:15.640 --> 0:13:19.080 primarily consumptive purpose is what it means, and he's trying 0:13:19.080 --> 0:13:22.959 to He's trying to UM remove them from security regulations 0:13:23.000 --> 0:13:26.520 because these regulations that are very ambiguous and nobody knows 0:13:26.559 --> 0:13:30.120 what these security regulations are. The SEC's maybe going to 0:13:30.160 --> 0:13:33.400 do one day. All this ambiguity has led to UH 0:13:33.600 --> 0:13:36.560 kind of a stall in in this new technology, and 0:13:36.600 --> 0:13:39.760 so UM states like Colorado have kind of moved to 0:13:40.080 --> 0:13:42.960 put legislation into place to kind of exempt tokens and 0:13:43.000 --> 0:13:44.800 things like that so they can continue to have that. 0:13:45.160 --> 0:13:48.840 So UM, he's been pretty pro cryptocurrency, which is pretty interesting. 0:13:48.840 --> 0:13:52.880 But he's not the only one we can see here. UM. 0:13:52.920 --> 0:13:58.200 In a post from Yahoo Finance, we saw UM. In Arizona, 0:13:58.880 --> 0:14:02.080 Bill s B one three four one was introduced by 0:14:02.120 --> 0:14:05.360 state Senator Wendy Rogers. UM seeks to amend the list 0:14:05.360 --> 0:14:08.559 of accepted legal tender to include bitcoin, which means the 0:14:08.559 --> 0:14:13.040 cryptocurrency would be accepted for the payment of debt, public charges, taxes, 0:14:13.240 --> 0:14:18.320 and other dues. So again, another state is saying, hey, 0:14:18.880 --> 0:14:21.520 federal government, you can say what you want, but we're 0:14:21.520 --> 0:14:23.720 gonna do something different. As a matter of fact, we're 0:14:23.720 --> 0:14:28.480 gonna make it legal tender to pay your public debt. Now. 0:14:28.480 --> 0:14:31.440 It's interesting that a lot of people would have typically said, yeah, 0:14:31.520 --> 0:14:33.560 bitcoin is never gonna work because, um, you know, you 0:14:33.600 --> 0:14:36.520 still have to pay taxes in dollars. But what about 0:14:36.520 --> 0:14:38.320 when the states a lot you to start paying your 0:14:38.320 --> 0:14:42.360 taxes in cryptocurrencies. And that's exactly what's happening now. Just 0:14:42.560 --> 0:14:46.080 so you know, it's not into law yet, it's a bill. 0:14:46.280 --> 0:14:50.320 Spe the bill still has to pass the Arizona State 0:14:50.400 --> 0:14:54.600 Senate and the House before it gets the governor who 0:14:54.640 --> 0:14:57.440 could sign it into law. Now, we don't know how 0:14:57.440 --> 0:14:59.880 it's going to work through those areas. It's not the point. 0:15:00.480 --> 0:15:02.840 The point is it's very interesting to see this happen 0:15:03.280 --> 0:15:06.040 and we can see that this transition that we're in, 0:15:06.040 --> 0:15:08.720 this decentralized revolution, is in place. And they're the only 0:15:08.720 --> 0:15:13.440 ones um. In Texas, there's a strong race for governor. 0:15:13.600 --> 0:15:16.600 Governor Abbott has been there, he's the incumbent um, but 0:15:16.640 --> 0:15:20.440 apparently there's a few other um candidates for governor in 0:15:20.480 --> 0:15:23.600 Texas that are gaining some momentum, and one of them 0:15:23.640 --> 0:15:28.720 is Conservative candidate for governor Texas of Texas, Don Huffing's 0:15:28.760 --> 0:15:31.560 and he released his plan to make Texas the leading 0:15:31.640 --> 0:15:36.720 state in America for bitcoin and other cryptocurrencies. He said, 0:15:36.920 --> 0:15:40.000 uh quote. As a leader in innovation, Texas must lead 0:15:40.040 --> 0:15:44.120 the nation on bitcoin policy and cryptocurrency adoption. I am 0:15:44.160 --> 0:15:47.480 committed to making Texas the citadel for a bitcoin and 0:15:47.520 --> 0:15:54.760 protecting the industry from the federal government. End quote. Let 0:15:54.760 --> 0:15:56.400 me let me, let me read that last part again 0:15:56.400 --> 0:15:59.920 for you. He said, uh, Texas sail for a bit 0:16:00.040 --> 0:16:05.800 and protecting the industry from the federal government. End quote. 0:16:05.840 --> 0:16:10.040 That's his words. It's pretty amazing that a politician is 0:16:10.120 --> 0:16:14.000 having to protect an industry from the federal government. Who 0:16:14.080 --> 0:16:16.720 is the federal government to be shutting down industries in 0:16:16.760 --> 0:16:19.960 the land of the free. Who are they to say 0:16:19.960 --> 0:16:21.600 what you can and can't do? Now? I know, I 0:16:21.680 --> 0:16:25.520 know through the pandemic, it's set this precedent where they 0:16:25.520 --> 0:16:28.000 could tell you your business is not essential and you 0:16:28.080 --> 0:16:30.640 must shut your business down. Well, it might have been 0:16:30.640 --> 0:16:32.160 not essential to you, but if you were trying to 0:16:32.200 --> 0:16:34.600 feed your family with it, it was pretty dang essential. 0:16:36.320 --> 0:16:38.600 So he says he has to protect the industry from 0:16:38.640 --> 0:16:42.000 the federal government. That's a problem. That is a big, 0:16:42.080 --> 0:16:45.880 big problem in my opinion. The federal government is there 0:16:45.920 --> 0:16:50.440 to protect private property rights, that's what the role of 0:16:50.440 --> 0:16:55.640 the federal government is. My business is my private property. 0:16:56.000 --> 0:16:59.120 They should be protecting it. And now this politician says 0:16:59.160 --> 0:17:02.800 he has to protect industry from the federal government. But 0:17:02.840 --> 0:17:05.879 that's exactly what's happening. It's a race. It's gonna be 0:17:05.960 --> 0:17:08.680 interesting to see how this all plays out. By the way, 0:17:08.680 --> 0:17:10.840 you're listening to the Markma Show. We're talking about the 0:17:10.880 --> 0:17:14.520 decentralized revolution that's happening right now before our very eyes. 0:17:14.720 --> 0:17:17.600 We're talking about the intersection of politics, finance, and technology. 0:17:17.640 --> 0:17:21.119 We're talking about bitcoin and how things are changing rapidly, 0:17:21.160 --> 0:17:23.919 and of course how you can stay involved and up 0:17:23.920 --> 0:17:26.040 to date on what's going on. Um, you're listening to 0:17:26.040 --> 0:17:28.520 the Markma Show. If you haven't already bookmarked this time 0:17:28.560 --> 0:17:30.320 and paid place to be with me each and every week, 0:17:30.480 --> 0:17:32.520 I'll be back with more in a second, don't go away, 0:17:32.840 --> 0:17:34.800 all right, welcome back. You are listening to the Markma 0:17:34.880 --> 0:17:38.720 Show talking about the decentralized revolution that we're living through. 0:17:38.880 --> 0:17:41.800 We're all living through it. And uh, if you unless 0:17:41.800 --> 0:17:44.160 you've been asleep or in a coma, you've probably realized 0:17:44.160 --> 0:17:46.920 that it's happening because it's all over the place. It's 0:17:46.920 --> 0:17:51.280 in your face. Um, it's in the news. The trucker 0:17:51.359 --> 0:17:54.080 situation of Canada. You know, we have states trying to 0:17:54.160 --> 0:17:57.680 change the laws about it, and uh more in your face. 0:17:58.119 --> 0:18:00.919 Probably the biggest stage to be I don't know, in 0:18:00.960 --> 0:18:03.800 the world, at least the United States was the Super Bowl, 0:18:04.160 --> 0:18:06.440 and it really dominated what was going on in the 0:18:06.480 --> 0:18:10.160 super Bowl. It kind of became the Crypto Bowl, if 0:18:10.200 --> 0:18:13.480 you will. I say Crypto Bowl because, um, if you're 0:18:13.520 --> 0:18:16.119 old enough to remember, then you might remember when it 0:18:16.240 --> 0:18:19.200 was the dot Com Bowl back in the year two thousand, 0:18:19.440 --> 0:18:21.840 when it was all dot coms that we're spending money. 0:18:22.240 --> 0:18:25.120 Um at that time, if you remember, in about two 0:18:25.200 --> 0:18:28.600 thousand five, it was mortgage companies spending money. And now 0:18:28.640 --> 0:18:31.080 here we are in two thousand twenty two at the 0:18:31.080 --> 0:18:34.800 Super Bowl and it was crypto companies that were spending 0:18:34.920 --> 0:18:37.359 all the money. So, uh, if you watch that at all, 0:18:37.400 --> 0:18:39.200 and even if you didn't watch it, you probably heard 0:18:39.200 --> 0:18:42.080 about it because I think, uh, probably even bigger than 0:18:42.119 --> 0:18:46.520 the game. People love, love, love love the commercials. The 0:18:46.560 --> 0:18:48.919 halftime show was pretty good too in my opinion, but 0:18:49.000 --> 0:18:52.400 that's because I'm from southern California and I'm old enough 0:18:52.440 --> 0:18:54.720 to remember when that was a thing. Uh, my kids 0:18:54.720 --> 0:18:56.320 think it was kind of funny, but I thought it 0:18:56.320 --> 0:18:59.200 was pretty good. But but anyway, back to a cryptocurrency 0:18:59.200 --> 0:19:02.080 in this decentralized revolution, um, there's something known as the 0:19:02.920 --> 0:19:08.440 Super Bowl indicator, and uh, it's not it's not all good. 0:19:08.600 --> 0:19:11.080 To be honest with you, it's not all good. So 0:19:11.160 --> 0:19:14.800 we can see Crypto dot Com, FTX Trading, and coin 0:19:14.880 --> 0:19:19.240 Base were some of the biggest cryptocurrency exchange companies who 0:19:19.280 --> 0:19:21.280 were buying ads during the Super Bowl. As a matter 0:19:21.320 --> 0:19:24.800 of fact, they reportedly shelled out as much as six 0:19:24.840 --> 0:19:29.680 point five million dollars for thirty seconds. Man, that's a 0:19:29.720 --> 0:19:33.760 lot of money. Now to put that into perspective, six 0:19:33.800 --> 0:19:38.240 and a half million dollars for thirty seconds. Two that 0:19:38.440 --> 0:19:41.679 was in the year two thousand. It was two and 0:19:41.680 --> 0:19:44.959 a half and I'm sorry, two point two million per slot. 0:19:45.040 --> 0:19:48.720 So that's inflation. That's inflation for you. Now, Remember, Inflation 0:19:48.840 --> 0:19:51.879 isn't the prices of things going up. Inflation isn't that 0:19:51.880 --> 0:19:55.560 things are becoming more valuable. Inflation is that your dollar 0:19:55.840 --> 0:19:58.320 is worth less and so it takes more dollars to 0:19:58.400 --> 0:20:01.760 buy those things today. So it used to take two 0:20:01.800 --> 0:20:04.280 point two million dollars to buy the spot. Now it 0:20:04.320 --> 0:20:06.280 takes because the dollars have lost so much value. Now 0:20:06.280 --> 0:20:08.520 it takes a six point five million dollars for the 0:20:08.560 --> 0:20:11.760 same thirty second spot, which is pretty interesting. A lot 0:20:11.760 --> 0:20:14.480 of inflation since uh I guess that's twenty two years. 0:20:16.119 --> 0:20:18.800 So if you would have had uh, if you would 0:20:18.800 --> 0:20:21.280 have had two point two million dollars for a thirty 0:20:21.320 --> 0:20:22.800 second slot back then, and you would have put that 0:20:22.800 --> 0:20:26.520 money in the bank today, it would have bought you 0:20:26.640 --> 0:20:29.239 about ten seconds. So about your thirty seconds back then 0:20:29.280 --> 0:20:31.200 today it buys you about ten seconds. To put that 0:20:31.240 --> 0:20:34.560 into perspective, um, of course, that means if you were 0:20:34.560 --> 0:20:36.520 buying if you would put the money for a house 0:20:36.640 --> 0:20:37.800 in the bank and you were trying to buy a 0:20:37.800 --> 0:20:40.280 house today, buy you about a third of the house. 0:20:40.520 --> 0:20:42.080 If you're trying to buy a basket of groceries, it 0:20:42.080 --> 0:20:44.119