1 00:00:00,160 --> 00:00:03,120 Speaker 1: Hey, welcome everybody. You are listening to the Mark Moss Show, 2 00:00:03,160 --> 00:00:06,680 Speaker 1: where we are talking about bitcoin and cryptocurrencies and the 3 00:00:06,760 --> 00:00:11,760 Speaker 1: decentralized revolution. I'm talking about the biggest opportunity we'll see 4 00:00:11,760 --> 00:00:15,040 Speaker 1: in our lifetime, we'll see in multiple lifetimes. It is 5 00:00:15,080 --> 00:00:18,560 Speaker 1: that big. Now I like to say that, Um well, 6 00:00:18,880 --> 00:00:22,599 Speaker 1: I say over and over that real investors, professional investors, 7 00:00:22,640 --> 00:00:24,600 Speaker 1: the ones that actually make money and don't lose money, 8 00:00:24,760 --> 00:00:27,280 Speaker 1: they're always looking for something called an asymmetric return. That 9 00:00:27,320 --> 00:00:29,080 Speaker 1: means they want to have more upside than downside. And 10 00:00:29,120 --> 00:00:32,839 Speaker 1: so in order to get that asymmetric return, you have 11 00:00:32,960 --> 00:00:37,840 Speaker 1: to have a symmetric information. You have to know information 12 00:00:37,880 --> 00:00:40,200 Speaker 1: that the majority of people don't have. That's the only way. 13 00:00:40,400 --> 00:00:43,839 Speaker 1: If everybody knows it, there's no there's no alpha, there, 14 00:00:43,880 --> 00:00:45,839 Speaker 1: there's no edge. You don't have an edge, all right. 15 00:00:46,159 --> 00:00:47,400 Speaker 1: You have to have an edge. You have to know 16 00:00:47,479 --> 00:00:50,400 Speaker 1: something that most people don't know. And so that's why 17 00:00:50,440 --> 00:00:52,800 Speaker 1: you need to tune into me each end every week. 18 00:00:52,840 --> 00:00:54,920 Speaker 1: So pull out your phone, put a calendar reminder this 19 00:00:54,960 --> 00:00:57,520 Speaker 1: time this channel. Do not miss this. It will be 20 00:00:57,560 --> 00:01:01,680 Speaker 1: the most profitable hour of week. Also, if you have 21 00:01:01,720 --> 00:01:02,959 Speaker 1: your phone in your hand, go ahead and pull out. 22 00:01:03,080 --> 00:01:05,120 Speaker 1: Open up your Twitter or Instagram and find me. It's 23 00:01:05,200 --> 00:01:07,920 Speaker 1: one Mark Moss on both the platform. Send me a message, 24 00:01:07,920 --> 00:01:09,080 Speaker 1: tell me you heard me on the radio, and ask 25 00:01:09,120 --> 00:01:10,679 Speaker 1: me a question. I'll make sure to answer it for 26 00:01:10,720 --> 00:01:13,800 Speaker 1: you next week when we go live. Now we're talking 27 00:01:13,840 --> 00:01:17,720 Speaker 1: about um bitcoins price. It broke. It's broke its previous 28 00:01:17,720 --> 00:01:19,560 Speaker 1: all time high that was set back in April of 29 00:01:19,560 --> 00:01:23,680 Speaker 1: this year, and there's really no resistance above head at 30 00:01:23,680 --> 00:01:26,080 Speaker 1: this point. I mean, we're in this kind of no 31 00:01:26,160 --> 00:01:28,600 Speaker 1: man's land, there's no resistance. We're in this true price 32 00:01:28,680 --> 00:01:31,080 Speaker 1: discovery place at this point. And a lot of that 33 00:01:31,200 --> 00:01:34,000 Speaker 1: was driven by, you know, some regulations that happened in China, 34 00:01:34,040 --> 00:01:37,520 Speaker 1: but also in the United States. UM, in the United States, 35 00:01:37,880 --> 00:01:40,480 Speaker 1: you know, we've continued to reach this level of entrenchment 36 00:01:40,520 --> 00:01:42,360 Speaker 1: that I think is just impossible. There's just no way 37 00:01:42,360 --> 00:01:45,199 Speaker 1: the government would ever um kill it at this point. 38 00:01:45,200 --> 00:01:46,760 Speaker 1: And they can't kill it, but they could, you know, 39 00:01:46,760 --> 00:01:48,400 Speaker 1: try to make it illegal. I don't think that would 40 00:01:48,400 --> 00:01:51,040 Speaker 1: ever happen. And I think what over the last couple weeks, 41 00:01:51,040 --> 00:01:53,400 Speaker 1: we heard the head of the SEC, Gary Gensler, and 42 00:01:53,440 --> 00:01:55,360 Speaker 1: we heard the federal chair of Jrome pow both say 43 00:01:55,400 --> 00:01:57,480 Speaker 1: that they will not make it illegal. They told us 44 00:01:57,520 --> 00:02:00,120 Speaker 1: that verbatim um. And then we saw this week and 45 00:02:00,160 --> 00:02:01,720 Speaker 1: this is the real big news were talking about this 46 00:02:01,720 --> 00:02:04,720 Speaker 1: week is that this bitcoin e t F went into effect, 47 00:02:05,360 --> 00:02:08,600 Speaker 1: and that was really big news, got got everybody excited. Now, 48 00:02:08,720 --> 00:02:10,840 Speaker 1: I want to explain something about this e t F 49 00:02:10,960 --> 00:02:14,160 Speaker 1: because there's there's there's probably a lot of miscommunication, a 50 00:02:14,200 --> 00:02:16,040 Speaker 1: lot of misunderstanding going on with this et F, and 51 00:02:16,040 --> 00:02:18,280 Speaker 1: I think it's very important for you to understand because 52 00:02:18,880 --> 00:02:20,920 Speaker 1: it can be dangerous, all right, it can be dangerous. Now, 53 00:02:20,919 --> 00:02:22,840 Speaker 1: the first thing I want you to understand is that 54 00:02:23,680 --> 00:02:26,320 Speaker 1: there's two different types of ets I mean, there's there's 55 00:02:26,360 --> 00:02:27,640 Speaker 1: more than that, but I want to break them down 56 00:02:27,639 --> 00:02:30,840 Speaker 1: into kind of two main categories. And so you have 57 00:02:30,880 --> 00:02:33,680 Speaker 1: a Future's e t F and you have a spot 58 00:02:33,919 --> 00:02:35,639 Speaker 1: e t F. All right, let me explain to you 59 00:02:35,720 --> 00:02:38,800 Speaker 1: what those two are. So a future's et F is 60 00:02:38,840 --> 00:02:44,080 Speaker 1: basically a way to just bet, to gamble. You're basically 61 00:02:44,120 --> 00:02:47,160 Speaker 1: betting on what the price of bitcoin will be in 62 00:02:47,200 --> 00:02:50,239 Speaker 1: the future. I bet I gamble, you know, I bet 63 00:02:50,280 --> 00:02:51,840 Speaker 1: you that it's going to be higher in the future, 64 00:02:52,120 --> 00:02:53,880 Speaker 1: or I bet you it's going to be lower in 65 00:02:53,880 --> 00:02:56,960 Speaker 1: the future. All right. That's the first way. The second 66 00:02:57,000 --> 00:02:59,919 Speaker 1: way is a spot et f and that means you're 67 00:03:00,040 --> 00:03:03,320 Speaker 1: actually buying the bitcoin, right, you actually own it, You 68 00:03:03,320 --> 00:03:05,320 Speaker 1: have a at least you have a claim to it, 69 00:03:05,800 --> 00:03:08,680 Speaker 1: all right, So it's a big difference. Now, the futures 70 00:03:08,800 --> 00:03:11,320 Speaker 1: came out for a couple of reasons, and of course, 71 00:03:11,600 --> 00:03:13,880 Speaker 1: like like everything, they kind of get distorted and changed 72 00:03:13,919 --> 00:03:15,400 Speaker 1: over time. But in the beginning, you know, they were 73 00:03:15,440 --> 00:03:19,480 Speaker 1: really used for commodities, which bitcoin is classified as a commodity, 74 00:03:19,560 --> 00:03:21,919 Speaker 1: so that's why they have it um. But commodities typically 75 00:03:21,960 --> 00:03:25,360 Speaker 1: would be like um, food, right, so grain, wheat, things 76 00:03:25,400 --> 00:03:28,639 Speaker 1: like that. And if I was a farmer and I 77 00:03:28,680 --> 00:03:32,040 Speaker 1: was growing wheat or whatever crop that may be. And 78 00:03:32,120 --> 00:03:34,080 Speaker 1: let's say that I was afraid that I was going 79 00:03:34,120 --> 00:03:36,720 Speaker 1: to have a bad year or that it was gonna 80 00:03:36,720 --> 00:03:38,360 Speaker 1: be a good Year's we too much wheat and it's 81 00:03:38,360 --> 00:03:40,920 Speaker 1: going to push the price down, or something's going to 82 00:03:41,000 --> 00:03:42,640 Speaker 1: happen to the price. Right, So what I could do 83 00:03:42,720 --> 00:03:45,360 Speaker 1: is I could sell a futures contract. I could get 84 00:03:45,360 --> 00:03:48,680 Speaker 1: someone to agree to buy my wheat or corn or 85 00:03:48,680 --> 00:03:50,880 Speaker 1: whatever it is at a fixed price in the future, 86 00:03:51,360 --> 00:03:53,040 Speaker 1: and that way it takes some of the risk off. 87 00:03:53,840 --> 00:03:56,200 Speaker 1: I'm guaranteed a price, and now they are the ones 88 00:03:56,240 --> 00:03:58,480 Speaker 1: that have the risk. Now I could end up selling 89 00:03:58,520 --> 00:04:00,200 Speaker 1: it short to not make as much money, but it's 90 00:04:00,200 --> 00:04:03,080 Speaker 1: okay because I'm guaranteed to get that price. And that's 91 00:04:03,120 --> 00:04:05,120 Speaker 1: kind of what's happening with the Bitcoin et F. It's 92 00:04:05,120 --> 00:04:08,360 Speaker 1: a futures based contract. So I don't own the bitcoin, 93 00:04:08,640 --> 00:04:10,880 Speaker 1: I don't have a claim to actually get any bitcoin. 94 00:04:11,200 --> 00:04:13,240 Speaker 1: I'm just betting on where I think the price is 95 00:04:13,240 --> 00:04:16,800 Speaker 1: going to be now. Um part. Another reason why the 96 00:04:17,880 --> 00:04:22,080 Speaker 1: futures also work good for commodities is because typically commodities, 97 00:04:22,200 --> 00:04:25,000 Speaker 1: when I'm talking about corn, you know, wheat grain, or 98 00:04:25,080 --> 00:04:27,760 Speaker 1: I'm talking about oil, you know, commodities like that, they're 99 00:04:28,560 --> 00:04:32,520 Speaker 1: they're very difficult, if not completely impossible, to take delivery of, right. 100 00:04:32,920 --> 00:04:35,760 Speaker 1: I mean, imagine if a bunch of contracts, a bunch 101 00:04:35,800 --> 00:04:38,320 Speaker 1: of tons of grain, you know, corn showed up at 102 00:04:38,360 --> 00:04:39,800 Speaker 1: your house or oil, like, what are you gonna do 103 00:04:39,880 --> 00:04:42,080 Speaker 1: with that? And so it was a way for a 104 00:04:42,120 --> 00:04:44,279 Speaker 1: way for an investor to buy into that commodity, to 105 00:04:44,279 --> 00:04:45,840 Speaker 1: put some money into that commodity, but without having to 106 00:04:45,839 --> 00:04:47,560 Speaker 1: take delivery of it. Right. So that would be more 107 00:04:47,600 --> 00:04:49,640 Speaker 1: of the spot side of things. So that's kind of 108 00:04:49,680 --> 00:04:51,560 Speaker 1: what they were intended for. Of course, today they're just 109 00:04:51,560 --> 00:04:54,480 Speaker 1: turned into this giant gambling casino that's going on over 110 00:04:54,520 --> 00:04:56,760 Speaker 1: in Wall Street, and they're you know, betting on everything. 111 00:04:56,800 --> 00:04:59,320 Speaker 1: I mean, today there's betting markets for everything. I think 112 00:04:59,360 --> 00:05:01,080 Speaker 1: it probably probably a lot of people were surprised to 113 00:05:01,080 --> 00:05:03,320 Speaker 1: see that there was like betting markets on the election, 114 00:05:03,440 --> 00:05:05,600 Speaker 1: you know, for last year, and anything that can be 115 00:05:05,600 --> 00:05:07,000 Speaker 1: bet on they're betting on. And they're betting on the 116 00:05:07,040 --> 00:05:10,159 Speaker 1: price of bitcoin. Now. Um, the first thing I would 117 00:05:10,200 --> 00:05:14,440 Speaker 1: say that I don't like about the futures um et 118 00:05:14,600 --> 00:05:19,000 Speaker 1: F is that price is all driven by supply and demand, 119 00:05:19,440 --> 00:05:23,160 Speaker 1: all right, So if there's more demand, more people want 120 00:05:23,160 --> 00:05:25,200 Speaker 1: to buy, then there is supply than people that want 121 00:05:25,200 --> 00:05:27,599 Speaker 1: to sell, and the price and actually goes up. And 122 00:05:27,680 --> 00:05:30,239 Speaker 1: so as more and more people wanted to get into bitcoin, 123 00:05:30,480 --> 00:05:33,920 Speaker 1: as corporations, as institutions, as hedge funds, as they es 124 00:05:33,960 --> 00:05:36,920 Speaker 1: central banks, as they want to get access to bitcoin, 125 00:05:36,960 --> 00:05:39,320 Speaker 1: they had to buy it. And when they bought it, 126 00:05:39,320 --> 00:05:41,240 Speaker 1: it took supply off the market, which then push the 127 00:05:41,240 --> 00:05:44,640 Speaker 1: price up higher. Right, And so the one one of 128 00:05:44,680 --> 00:05:47,240 Speaker 1: the many revolutionary things about bitcoin is that it has 129 00:05:47,279 --> 00:05:50,640 Speaker 1: a fixed supply cap right never be more than twenty 130 00:05:50,680 --> 00:05:54,360 Speaker 1: one million gold. We talked about earlier if you caught 131 00:05:54,360 --> 00:05:56,839 Speaker 1: the previous show, we talked about how gold has a 132 00:05:56,839 --> 00:05:58,840 Speaker 1: stock to flow model. You have the stock the existing 133 00:05:58,880 --> 00:06:00,560 Speaker 1: supply with the flow of the new and coming supply, 134 00:06:00,920 --> 00:06:03,840 Speaker 1: and so there's an inflation rate. How much gold goes up. Now, 135 00:06:03,960 --> 00:06:05,560 Speaker 1: if the price of gold went you know, right now 136 00:06:05,600 --> 00:06:07,520 Speaker 1: it's on eight hundred bucks anounce, let's say it went 137 00:06:07,560 --> 00:06:09,919 Speaker 1: to ten thousand announces, you'd have way more people go 138 00:06:09,960 --> 00:06:12,240 Speaker 1: to mind gold, and you have way more gold coming 139 00:06:12,279 --> 00:06:15,800 Speaker 1: into the into the world. With bitcoin, they can't increase that. 140 00:06:15,920 --> 00:06:17,359 Speaker 1: You could you get the price of bitcoin to go 141 00:06:17,400 --> 00:06:19,760 Speaker 1: up by ten x and you'd have ten x the 142 00:06:19,760 --> 00:06:21,880 Speaker 1: amount of people going to mind bitcoin, but it wouldn't 143 00:06:21,920 --> 00:06:25,320 Speaker 1: increase the supply of bitcoin at all. And so um, 144 00:06:25,360 --> 00:06:28,320 Speaker 1: there's a supply demand thing and so um, since they 145 00:06:28,360 --> 00:06:31,080 Speaker 1: can't create more than twenty one million, what they can 146 00:06:31,240 --> 00:06:34,240 Speaker 1: do is with this future's e t F. Remember they're 147 00:06:34,240 --> 00:06:37,200 Speaker 1: not actually buying bitcoin, they're buying they're just betting on it. 148 00:06:37,480 --> 00:06:41,000 Speaker 1: So now money that typically if that hedge fund, that institution, 149 00:06:41,040 --> 00:06:43,440 Speaker 1: that government wanted access to the price of bitcoin, they 150 00:06:43,440 --> 00:06:46,680 Speaker 1: would have no choice book to buy it. Today, they 151 00:06:46,839 --> 00:06:50,920 Speaker 1: instead of putting their million dollars of buying bitcoin, they 152 00:06:50,960 --> 00:06:53,760 Speaker 1: just take that same million dollars and they bet on 153 00:06:53,880 --> 00:06:57,960 Speaker 1: bitcoin instead. And so the million dollars is still getting 154 00:06:58,080 --> 00:07:02,040 Speaker 1: access to the price of bitcoin, but it's not changing 155 00:07:02,200 --> 00:07:06,400 Speaker 1: the demand and supply metrics. So I think that's a 156 00:07:06,440 --> 00:07:09,520 Speaker 1: bad thing. Now we've seen this become very very bad, 157 00:07:09,560 --> 00:07:12,320 Speaker 1: like in the gold industry for example. So in the 158 00:07:12,360 --> 00:07:16,560 Speaker 1: gold industry, um, this is really big. And so you know, 159 00:07:16,680 --> 00:07:18,520 Speaker 1: gold is a little bit hard to take advantage of 160 00:07:18,520 --> 00:07:20,560 Speaker 1: two or I should say, take custody of right, So 161 00:07:20,680 --> 00:07:22,360 Speaker 1: like if you have a lot of gold, I mean, 162 00:07:22,400 --> 00:07:24,040 Speaker 1: what are you gonna do with it? Like you probably 163 00:07:24,040 --> 00:07:26,400 Speaker 1: can't store it in your house, It's very expensive to 164 00:07:26,480 --> 00:07:29,360 Speaker 1: ship and things like that, and so, um, a lot 165 00:07:29,360 --> 00:07:34,160 Speaker 1: of people I buy the gold ETFs that don't actually 166 00:07:34,240 --> 00:07:38,200 Speaker 1: own the gold. And studies have shown there's not a 167 00:07:38,200 --> 00:07:41,040 Speaker 1: lot of transparency here. But some estimates show that there's 168 00:07:41,080 --> 00:07:47,440 Speaker 1: approximately five hundred paper ounces of gold for everyone real 169 00:07:47,960 --> 00:07:50,680 Speaker 1: ounce of gold. So what that means is there's at 170 00:07:50,760 --> 00:07:54,440 Speaker 1: five people four nine of them think they own gold, 171 00:07:54,480 --> 00:07:57,840 Speaker 1: but they don't really. Now, imagine if all of those 172 00:07:57,840 --> 00:08:00,800 Speaker 1: four people that thought they own gold actually did if 173 00:08:00,840 --> 00:08:03,920 Speaker 1: they took that money and actually bought physical gold based 174 00:08:03,920 --> 00:08:06,040 Speaker 1: off supplying Man, what do you think would happen to 175 00:08:06,040 --> 00:08:08,920 Speaker 1: the price of gold. It would shoot way higher, right, 176 00:08:09,040 --> 00:08:12,760 Speaker 1: I mean five times higher. Um. But they've created this 177 00:08:12,840 --> 00:08:15,640 Speaker 1: fake paper market, and I'm afraid that could happen to bitcoin, 178 00:08:15,720 --> 00:08:18,800 Speaker 1: where you create this fake paper market which then creates 179 00:08:18,800 --> 00:08:22,240 Speaker 1: an unlimited supply, and then it kind of suppresses the 180 00:08:22,240 --> 00:08:25,000 Speaker 1: price down in a way because um, it's not you know, 181 00:08:25,160 --> 00:08:28,240 Speaker 1: activating that supply and demand. So that's one thing that 182 00:08:28,280 --> 00:08:30,480 Speaker 1: I don't like the futures without much rather see a 183 00:08:30,520 --> 00:08:34,079 Speaker 1: spot et F. Of course, the the SEC won't approve 184 00:08:34,200 --> 00:08:37,160 Speaker 1: a spot E t F right now. They say it's 185 00:08:37,200 --> 00:08:40,480 Speaker 1: too dangerous. Um. In my opinion, what's dangerous is this 186 00:08:40,760 --> 00:08:44,440 Speaker 1: fake futures betting. In my opinion, that's way more dangerous. 187 00:08:44,600 --> 00:08:47,200 Speaker 1: If I bought bitcoin spot and it went down in value, 188 00:08:47,200 --> 00:08:49,720 Speaker 1: at least I still own the bitcoin. If I just 189 00:08:49,840 --> 00:08:52,000 Speaker 1: make a bet against it and I lose the bet, 190 00:08:52,520 --> 00:08:55,160 Speaker 1: I lose everything. I own nothing, And so that seems 191 00:08:55,160 --> 00:08:57,160 Speaker 1: to me more dangerous. But I want to get in 192 00:08:57,200 --> 00:09:00,200 Speaker 1: a little bit more into how this spot or I'm right, 193 00:09:00,200 --> 00:09:03,319 Speaker 1: how this future is actually works, because if you're considering 194 00:09:03,400 --> 00:09:06,440 Speaker 1: buying it, there's actually some things that you need to know. Um, 195 00:09:06,480 --> 00:09:08,760 Speaker 1: it is easy to get access to it, but there's 196 00:09:08,800 --> 00:09:11,400 Speaker 1: some real dangers and it actually might be way more 197 00:09:11,640 --> 00:09:14,839 Speaker 1: expensive and way more dangerous than you think. And so 198 00:09:15,120 --> 00:09:17,000 Speaker 1: if you're thinking about buying this futures, you know it's 199 00:09:17,040 --> 00:09:20,000 Speaker 1: easy to get from your brokerage account whatever it may be. UM, 200 00:09:20,080 --> 00:09:22,880 Speaker 1: then you need to know this information. There's something known 201 00:09:23,000 --> 00:09:25,280 Speaker 1: as the bleed. You need to know about the bleed. 202 00:09:25,360 --> 00:09:27,000 Speaker 1: You need to know what the cash and carry is. 203 00:09:27,120 --> 00:09:29,839 Speaker 1: You need to know something a negative role yield is called. 204 00:09:30,120 --> 00:09:32,160 Speaker 1: You listen to the Mark Moa Show. We're talking about 205 00:09:32,360 --> 00:09:35,520 Speaker 1: bitcoin futures. So the information that you need need you 206 00:09:35,559 --> 00:09:39,040 Speaker 1: need to know about bitcoin so you can survive and 207 00:09:39,120 --> 00:09:42,240 Speaker 1: thrive as this revolution plays out. I'll be right back. 208 00:09:42,880 --> 00:09:45,320 Speaker 1: Hey everyone, welcome back. You are listening to the markma 209 00:09:45,360 --> 00:09:48,680 Speaker 1: Show where I talk about bitcoin and cryptocurrencies and the 210 00:09:48,840 --> 00:09:52,920 Speaker 1: decentralized revolution each and every week, bringing you the information 211 00:09:53,000 --> 00:09:54,760 Speaker 1: you need. I mean, look, I say it over and 212 00:09:54,800 --> 00:09:57,320 Speaker 1: over every each and every week. This is the biggest 213 00:09:57,320 --> 00:10:00,160 Speaker 1: opportunity you'll ever have in your lifetime, and you need 214 00:10:00,200 --> 00:10:04,880 Speaker 1: to have this information. Unfortunately, most people have wrong information. 215 00:10:04,880 --> 00:10:07,559 Speaker 1: Wherever they're getting information from. I can pretty much tell 216 00:10:07,600 --> 00:10:10,360 Speaker 1: you it's wrong. And if you have the wrong information, 217 00:10:10,400 --> 00:10:12,839 Speaker 1: you're either not going to take advantage of this opportunity 218 00:10:13,040 --> 00:10:16,200 Speaker 1: or you won't take advantage of it properly. And so 219 00:10:16,240 --> 00:10:17,640 Speaker 1: you need to have that. So join me each and 220 00:10:17,640 --> 00:10:19,840 Speaker 1: every week polot your phone intead of reminder. Also, by 221 00:10:19,840 --> 00:10:22,560 Speaker 1: the way, tweet at me or hit me on Instagram. 222 00:10:22,600 --> 00:10:24,720 Speaker 1: One Mark Moss, just the number one. Mark Moss asked 223 00:10:24,720 --> 00:10:27,280 Speaker 1: me a question. I'll answer it next week. Now I'm 224 00:10:27,280 --> 00:10:29,920 Speaker 1: talking about these futures, these bitcoin futures e t s 225 00:10:30,040 --> 00:10:32,400 Speaker 1: that came out this week and the big, big, big news, 226 00:10:32,440 --> 00:10:34,679 Speaker 1: of course, the price of bitcoin shot higher, new all 227 00:10:34,720 --> 00:10:37,560 Speaker 1: time highs, and I was explaining, now there's two different 228 00:10:37,600 --> 00:10:40,640 Speaker 1: types of bitcoin e T f s, and there's there's more, 229 00:10:40,679 --> 00:10:42,200 Speaker 1: but I'm just breaking them in two buckets. And so 230 00:10:42,200 --> 00:10:45,680 Speaker 1: basically you have the futures, which is basically you're not 231 00:10:45,760 --> 00:10:49,000 Speaker 1: buying bitcoin, you're just betting on the future price, hence 232 00:10:49,040 --> 00:10:52,000 Speaker 1: the name of futures. And then there's another one called spot, 233 00:10:52,080 --> 00:10:54,480 Speaker 1: which is means you're actually buying it. You're actually buying 234 00:10:54,520 --> 00:10:56,400 Speaker 1: the bitcoin. And uh, in an e t F, you 235 00:10:56,400 --> 00:10:58,440 Speaker 1: would actually take delivery of it, but you would have 236 00:10:58,480 --> 00:11:01,120 Speaker 1: a claim to it. And so what we got is 237 00:11:01,200 --> 00:11:03,720 Speaker 1: the futures et F. We did not get the spot 238 00:11:03,800 --> 00:11:06,040 Speaker 1: et F. And and there's some things with this, with 239 00:11:06,120 --> 00:11:08,080 Speaker 1: this futures et F that you need to be aware of. 240 00:11:08,520 --> 00:11:11,480 Speaker 1: Um overall, I would just say I don't recommend it 241 00:11:11,520 --> 00:11:13,120 Speaker 1: for the average person. I don't think you should buy it. 242 00:11:13,240 --> 00:11:15,680 Speaker 1: I would I would highly recommend that you stay away 243 00:11:15,679 --> 00:11:18,199 Speaker 1: from it. For the average person. You should just buy 244 00:11:18,240 --> 00:11:21,040 Speaker 1: bitcoin and you should store it yourself. It's so easy. 245 00:11:21,200 --> 00:11:25,240 Speaker 1: One of the very, very, very many revolutionary things about 246 00:11:25,280 --> 00:11:28,560 Speaker 1: bitcoin is it allows you to take custody of your 247 00:11:28,559 --> 00:11:32,400 Speaker 1: own assets. Um Man, I can go down through so 248 00:11:32,440 --> 00:11:34,240 Speaker 1: many tangents. I hate to go through the tangents, but 249 00:11:34,280 --> 00:11:35,760 Speaker 1: it's hard for me not to explain this stuff to you. 250 00:11:35,760 --> 00:11:38,720 Speaker 1: But think about this just real quick. Probably the oldest 251 00:11:38,800 --> 00:11:42,560 Speaker 1: problem that man that humans have had, the oldest problem 252 00:11:42,600 --> 00:11:44,640 Speaker 1: in the entire world of all the humanity, the biggest 253 00:11:44,640 --> 00:11:47,720 Speaker 1: problem that man has had humans have had is how 254 00:11:47,800 --> 00:11:50,560 Speaker 1: do you store your wealth? How do you store your 255 00:11:50,600 --> 00:11:54,640 Speaker 1: property without it being taken. So, um, the early man, 256 00:11:54,760 --> 00:11:57,640 Speaker 1: I'm afraid you're gonna come steal my chickens. So me 257 00:11:57,679 --> 00:12:00,000 Speaker 1: and the neighbor get together and band together, and someone's 258 00:12:00,000 --> 00:12:01,880 Speaker 1: gonna come take our chickens and our goats. So then 259 00:12:01,920 --> 00:12:04,320 Speaker 1: we make a village to protect our property. And then 260 00:12:04,320 --> 00:12:06,720 Speaker 1: we make a kingdom, and then we make a country. 261 00:12:06,760 --> 00:12:08,960 Speaker 1: As a matter of fact, the role of the United 262 00:12:08,960 --> 00:12:13,600 Speaker 1: States government is only to protect private property. That's it. 263 00:12:14,559 --> 00:12:16,560 Speaker 1: But what's the revolution about bitcoin is that you know, 264 00:12:16,640 --> 00:12:18,920 Speaker 1: let's say that I'm I'm holding my wealth, my value 265 00:12:18,920 --> 00:12:21,240 Speaker 1: in gold, and I have a lot of gold. Well, 266 00:12:21,280 --> 00:12:22,800 Speaker 1: that's gonna take up a lot of room. It's gonna 267 00:12:22,800 --> 00:12:24,200 Speaker 1: be very heavy. I'm gonna have to spend a lot 268 00:12:24,200 --> 00:12:27,120 Speaker 1: of money to build a safe and some walls, and 269 00:12:27,120 --> 00:12:29,800 Speaker 1: I'm gonna have to hire some guards. So it's very expensive. 270 00:12:29,840 --> 00:12:31,520 Speaker 1: And then I can't take it anywhere. It's very hard 271 00:12:31,520 --> 00:12:34,440 Speaker 1: to move it. Um. And so those are types of problems, right. 272 00:12:34,520 --> 00:12:37,360 Speaker 1: But if I can hold my wealth in bitcoin that 273 00:12:37,360 --> 00:12:41,720 Speaker 1: can be cryptographically secured and it costs me zero dollars 274 00:12:41,840 --> 00:12:46,480 Speaker 1: or effort to secure it, and it's portable, how does 275 00:12:46,520 --> 00:12:49,679 Speaker 1: that change the world. I mean, it literally takes care 276 00:12:49,800 --> 00:12:53,120 Speaker 1: of the oldest problem of humanity, and so that's a 277 00:12:53,160 --> 00:12:55,400 Speaker 1: revolutionary thing, and so we should all take advantage of that. 278 00:12:55,559 --> 00:12:58,400 Speaker 1: So don't buy bitcoin through an e t F, take 279 00:12:58,480 --> 00:13:01,400 Speaker 1: custody of it, holding yourself. That's its revolutionary. But now 280 00:13:01,440 --> 00:13:03,599 Speaker 1: back to the futures ETF. So there's a couple of 281 00:13:03,600 --> 00:13:05,840 Speaker 1: things you need to be aware of, um And the 282 00:13:05,880 --> 00:13:07,840 Speaker 1: first thing I want to talk about is something what's 283 00:13:07,880 --> 00:13:11,959 Speaker 1: called the bleed. Alright, the bleed, they're gonna bleed you dry. 284 00:13:12,360 --> 00:13:16,880 Speaker 1: The bleed is a negative contribution to your performance. Because 285 00:13:16,920 --> 00:13:18,679 Speaker 1: this is kind of the way these things work. So 286 00:13:19,080 --> 00:13:23,120 Speaker 1: most commodity futures et F s deal with a negative 287 00:13:23,440 --> 00:13:25,400 Speaker 1: role yield. And so what does that mean? In this 288 00:13:25,480 --> 00:13:29,119 Speaker 1: negative roll yield, so each month they're basically they're forced 289 00:13:29,120 --> 00:13:32,720 Speaker 1: by a more expensive contract than the one that's about 290 00:13:32,800 --> 00:13:35,959 Speaker 1: to expire. So we could look at a contract, so 291 00:13:36,080 --> 00:13:38,439 Speaker 1: they have like an October contract, in November contract of 292 00:13:38,480 --> 00:13:41,800 Speaker 1: December contract, etcetera. So let's say, for example, that the 293 00:13:41,840 --> 00:13:47,439 Speaker 1: November contract is three fifteen dollars more expensive than October, 294 00:13:48,559 --> 00:13:53,760 Speaker 1: and then December more expensive than November. So what happens 295 00:13:53,840 --> 00:13:57,360 Speaker 1: is the futures et F passes that that expense what's 296 00:13:57,360 --> 00:14:00,640 Speaker 1: called the bleed. They pass it directly to the holders. 297 00:14:01,160 --> 00:14:05,280 Speaker 1: Right now, this type of positively sloping futures curve when 298 00:14:05,280 --> 00:14:08,800 Speaker 1: it's going up in value, it's called contango. You may 299 00:14:08,840 --> 00:14:11,800 Speaker 1: have heard that term before. It's contango. Now contango is 300 00:14:11,880 --> 00:14:15,480 Speaker 1: not your friend, well not if you're a commodity futures 301 00:14:15,520 --> 00:14:18,400 Speaker 1: investor et F investor. It is not your friend because 302 00:14:18,480 --> 00:14:21,800 Speaker 1: basically what's happening is it's bleeding you dry. It's bleeding 303 00:14:21,880 --> 00:14:24,520 Speaker 1: your profits. Each month you have to keep paying those 304 00:14:24,560 --> 00:14:28,600 Speaker 1: fees as they roll that over that contango. Um. And 305 00:14:28,640 --> 00:14:31,720 Speaker 1: so it's not your friend. Um. And so that's why 306 00:14:31,720 --> 00:14:34,600 Speaker 1: it's important to understand which way you invest into bitcoin, 307 00:14:35,080 --> 00:14:37,960 Speaker 1: and you understand what type of bleed you might experience 308 00:14:38,040 --> 00:14:40,880 Speaker 1: in a bitcoin futures et F. Now, on a bitcoin 309 00:14:41,080 --> 00:14:44,720 Speaker 1: spot et F, there is no bleed, right, there's no 310 00:14:44,760 --> 00:14:47,640 Speaker 1: bleed because they're not rolling over a contract. You're just 311 00:14:47,640 --> 00:14:50,240 Speaker 1: just buying and holding. Now a bit a spot et F, 312 00:14:50,280 --> 00:14:52,240 Speaker 1: which we don't have yet, hopefully we'll get one soon. 313 00:14:52,360 --> 00:14:54,440 Speaker 1: Well I would prefer we had no et F at all, 314 00:14:54,440 --> 00:14:56,120 Speaker 1: but if we're gonna get one, on the prefers spot 315 00:14:56,680 --> 00:14:59,200 Speaker 1: But They also still come with costs and fees, of course, 316 00:14:59,680 --> 00:15:01,360 Speaker 1: you know the cost to run the fund and for 317 00:15:01,400 --> 00:15:03,680 Speaker 1: their attorneys and you know all that other stuff. UM, 318 00:15:03,720 --> 00:15:07,400 Speaker 1: But there's no negative roll yield. They're not trying to 319 00:15:07,520 --> 00:15:10,400 Speaker 1: roll those fees onto every single month. So that's a 320 00:15:10,440 --> 00:15:13,400 Speaker 1: really big thing. UM. One reason why I really am 321 00:15:13,440 --> 00:15:16,400 Speaker 1: not a fan of this at all. UM. I think 322 00:15:16,400 --> 00:15:19,200 Speaker 1: there's some controversy because the SEC is only approving a 323 00:15:19,280 --> 00:15:22,040 Speaker 1: product with the bleed uh and and not one with 324 00:15:22,120 --> 00:15:25,400 Speaker 1: physical storage, right. I don't know why they would do that. 325 00:15:25,480 --> 00:15:28,200 Speaker 1: They say it's for your protection, of course, I just 326 00:15:28,280 --> 00:15:32,160 Speaker 1: don't see how that's possible. But a couple of things 327 00:15:32,160 --> 00:15:34,280 Speaker 1: to know about the e t F. I mean, it's 328 00:15:34,360 --> 00:15:36,480 Speaker 1: it's it's a huge market. So first of all, I 329 00:15:36,600 --> 00:15:39,880 Speaker 1: said earlier that um, the big win e t F 330 00:15:40,040 --> 00:15:43,640 Speaker 1: was the UM second largest e t F launch in 331 00:15:43,760 --> 00:15:45,960 Speaker 1: history really kind of the first biggest, but we'll call 332 00:15:45,960 --> 00:15:48,200 Speaker 1: it the second biggest. UM. And And the e t 333 00:15:48,320 --> 00:15:50,480 Speaker 1: F market is huge. The global et F market is 334 00:15:50,520 --> 00:15:54,160 Speaker 1: currently about eight trillion dollars and it's growing at over 335 00:15:54,280 --> 00:16:00,960 Speaker 1: twenty six percent per year, which is massive obviously, UM. 336 00:16:00,960 --> 00:16:03,880 Speaker 1: And uh, you know this this new investment vehicle. It 337 00:16:03,960 --> 00:16:06,360 Speaker 1: does make it super easy for people to buy it. 338 00:16:06,440 --> 00:16:08,560 Speaker 1: So a lot of people, for example, they can just 339 00:16:08,600 --> 00:16:11,200 Speaker 1: now buy it right from their brokerage account, right from 340 00:16:11,200 --> 00:16:14,080 Speaker 1: their E Trade or Fidelity Charles Schwab account or something 341 00:16:14,120 --> 00:16:17,760 Speaker 1: like that. So that is nice. It democratizes the investing, 342 00:16:17,840 --> 00:16:20,800 Speaker 1: you know, in a big way. Um, And so I 343 00:16:20,880 --> 00:16:24,360 Speaker 1: think this just slide right into this eight trillion dollar 344 00:16:24,400 --> 00:16:27,200 Speaker 1: market cap and then grab a pretty large portion of Remember, 345 00:16:27,240 --> 00:16:30,400 Speaker 1: as I said, it's growing by twenty six percent a 346 00:16:30,520 --> 00:16:33,720 Speaker 1: year now. Year to date, bitcoins prices up over triple 347 00:16:33,800 --> 00:16:38,160 Speaker 1: digits up. And um, you know, if the futures e 348 00:16:38,360 --> 00:16:42,600 Speaker 1: t F provides a negative twelve precent roll yield, remember 349 00:16:42,720 --> 00:16:45,240 Speaker 1: rolling those fees in every single month, and e t 350 00:16:45,400 --> 00:16:48,320 Speaker 1: F would still have doubled in price, which is pretty 351 00:16:48,360 --> 00:16:50,480 Speaker 1: amazing because there's no other ETLs out there. They are 352 00:16:50,560 --> 00:16:52,880 Speaker 1: doubling in the brice And so I think there's going 353 00:16:52,920 --> 00:16:57,040 Speaker 1: to be a lot of demand for this type of 354 00:16:57,040 --> 00:16:59,880 Speaker 1: an ETF. I think we'll see investment managers tripping over 355 00:17:00,040 --> 00:17:03,720 Speaker 1: themselves to finally have something where they can get access 356 00:17:04,320 --> 00:17:07,520 Speaker 1: exposure to the price of the bitcoin without having to 357 00:17:07,600 --> 00:17:09,480 Speaker 1: deal with it, you know, as a commodity, So I 358 00:17:09,520 --> 00:17:12,000 Speaker 1: think it's gonna be really big, really big. Now there's 359 00:17:12,000 --> 00:17:13,720 Speaker 1: something else that you need to call a no and 360 00:17:13,720 --> 00:17:17,240 Speaker 1: as a term called cash and carry all right now, 361 00:17:17,280 --> 00:17:20,160 Speaker 1: cash and carry UM is one of the oldest tricks 362 00:17:20,200 --> 00:17:23,280 Speaker 1: in the book. It's the arbitrage and UM. I think 363 00:17:23,320 --> 00:17:25,800 Speaker 1: it's important to understand what this is because there's also 364 00:17:25,960 --> 00:17:28,480 Speaker 1: some risk that could be there as well. But if 365 00:17:28,480 --> 00:17:30,480 Speaker 1: you understand how to play this right, it could actually 366 00:17:30,520 --> 00:17:32,680 Speaker 1: be a pretty big benefit for you. So I want 367 00:17:32,680 --> 00:17:35,240 Speaker 1: to talk about the cash and carry and then I 368 00:17:35,280 --> 00:17:38,840 Speaker 1: also want to talk about UM. One of the best 369 00:17:38,880 --> 00:17:41,440 Speaker 1: known investors in the world today probably is a billionaire 370 00:17:41,560 --> 00:17:45,640 Speaker 1: venture capitalists invested in all top technology. He says that 371 00:17:45,720 --> 00:17:49,720 Speaker 1: he is under invested UM and he has some very 372 00:17:49,760 --> 00:17:51,720 Speaker 1: important things to say. I think that will provide a 373 00:17:51,720 --> 00:17:53,159 Speaker 1: lot of perspectives. I want to talk about that when 374 00:17:53,160 --> 00:17:56,920 Speaker 1: we get back as well, UM, and we're gonna talk 375 00:17:56,920 --> 00:17:59,159 Speaker 1: about some countries that are continuing to grow into this 376 00:17:59,160 --> 00:18:01,280 Speaker 1: Bitcoin as well. Again, is the information that you need 377 00:18:01,320 --> 00:18:04,400 Speaker 1: to participate to to take advantage of. I should say 378 00:18:04,440 --> 00:18:09,600 Speaker 1: of the bitcoin, uh decentralized revolution, the cryptocurrency revolution that's 379 00:18:09,640 --> 00:18:12,560 Speaker 1: happening right now. I have some big news. I want 380 00:18:12,560 --> 00:18:14,560 Speaker 1: to bring it to you. Um, you're listening to the 381 00:18:14,560 --> 00:18:18,200 Speaker 1: Mark Mo Show. We'll be right back, all right, Welcome back. 382 00:18:18,200 --> 00:18:20,080 Speaker 1: You are listening to the Mark Mo Show where I 383 00:18:20,119 --> 00:18:23,080 Speaker 1: bring to you the latest in information on bitcoin and 384 00:18:23,119 --> 00:18:28,000 Speaker 1: cryptocurrencies and this decentralized revolution that's happening or right before 385 00:18:28,040 --> 00:18:31,159 Speaker 1: our very eyes. You know, it's interesting when you're living 386 00:18:31,200 --> 00:18:34,480 Speaker 1: through history, you probably don't see it, you don't recognize it. 387 00:18:34,920 --> 00:18:37,320 Speaker 1: But I can tell you for sure that history books 388 00:18:37,320 --> 00:18:40,560 Speaker 1: will be written about this very point in time. We're 389 00:18:40,600 --> 00:18:44,320 Speaker 1: living through one of the most volatile times, um, in 390 00:18:44,400 --> 00:18:48,120 Speaker 1: modern history. And you know, I think most people can 391 00:18:48,160 --> 00:18:51,000 Speaker 1: realize how much, how much is how much is changing 392 00:18:51,000 --> 00:18:53,240 Speaker 1: in this world. But what a lot of people don't 393 00:18:53,240 --> 00:18:55,440 Speaker 1: probably realize is that there's this huge opportunity sitting in 394 00:18:55,480 --> 00:18:56,560 Speaker 1: front of us. And so that's what I'm trying to 395 00:18:56,600 --> 00:18:59,040 Speaker 1: bring to you each and every week. Now, before the break, 396 00:18:59,040 --> 00:19:01,359 Speaker 1: we were talking about this Bitcoin e t F that 397 00:19:01,359 --> 00:19:03,439 Speaker 1: went through this week. It was the biggest news that 398 00:19:03,560 --> 00:19:05,919 Speaker 1: kind of rocked the world. It shot the price of 399 00:19:05,920 --> 00:19:09,680 Speaker 1: bitcoin and most of the cryptocurrencies up higher this week. UM, 400 00:19:09,720 --> 00:19:11,480 Speaker 1: And I think you know, for a couple of reasons. 401 00:19:11,520 --> 00:19:13,760 Speaker 1: But I think one of the big, big, big reason 402 00:19:14,000 --> 00:19:17,320 Speaker 1: is obviously it it brought a lot more access to bitcoin, 403 00:19:17,400 --> 00:19:18,840 Speaker 1: so a lot of people are now able to buy 404 00:19:18,840 --> 00:19:20,880 Speaker 1: it directly from their stock trading and account, which is big. 405 00:19:21,400 --> 00:19:23,440 Speaker 1: But I think more than that, it was also just 406 00:19:23,520 --> 00:19:27,240 Speaker 1: the legitimacy factor. I think the legitimacy factor of it 407 00:19:27,280 --> 00:19:31,560 Speaker 1: really helped because of this Bitcoin ETF and meaning that 408 00:19:32,000 --> 00:19:34,120 Speaker 1: you know, one of the biggest complaints or I should 409 00:19:34,119 --> 00:19:37,359 Speaker 1: say objections that people still throw out over bitcoin is 410 00:19:37,400 --> 00:19:39,240 Speaker 1: that the governments are going to make it illegal. People 411 00:19:39,280 --> 00:19:41,200 Speaker 1: still say that all the time, and so they've they've 412 00:19:41,200 --> 00:19:42,719 Speaker 1: told us they're not going to make it illegal. And 413 00:19:42,760 --> 00:19:45,760 Speaker 1: now I think through this UM E t F, I 414 00:19:45,800 --> 00:19:48,439 Speaker 1: mean it's kind of like the final kind of final 415 00:19:48,520 --> 00:19:50,520 Speaker 1: nail that just says like we're not gonna do it, 416 00:19:50,560 --> 00:19:51,840 Speaker 1: like we're not gonna make it illegal. So I think 417 00:19:51,840 --> 00:19:53,959 Speaker 1: it brought a lot of legitimacy to it. Now I 418 00:19:54,000 --> 00:19:56,640 Speaker 1: was talking about UM the two different type, two main 419 00:19:56,760 --> 00:19:59,399 Speaker 1: types of bitcoin E t F. So there's the futures 420 00:19:59,400 --> 00:20:01,440 Speaker 1: based where betting on the future price whether the price 421 00:20:01,480 --> 00:20:03,359 Speaker 1: is gonna be higher or lower UM, and then you 422 00:20:03,400 --> 00:20:07,600 Speaker 1: have the spot future where you're actually buying buy it directly. Now, 423 00:20:07,640 --> 00:20:10,199 Speaker 1: this is not a spot um E t F. This 424 00:20:10,280 --> 00:20:12,840 Speaker 1: is only a future space et FUM, so that's important 425 00:20:12,840 --> 00:20:15,119 Speaker 1: to understand UM. And then I went through. I was 426 00:20:15,119 --> 00:20:17,119 Speaker 1: talking about the bleed and a negative rule yield and 427 00:20:17,160 --> 00:20:19,359 Speaker 1: so that's the fees. Basically every month they're gonna keep 428 00:20:19,359 --> 00:20:22,040 Speaker 1: passing on too. So I don't really recommend this futures 429 00:20:22,040 --> 00:20:23,840 Speaker 1: et F for most people. I think you're just way 430 00:20:23,840 --> 00:20:26,159 Speaker 1: better off just buying bitcoin directly. But I was going 431 00:20:26,200 --> 00:20:28,600 Speaker 1: to talk about something called the cash and carry. So 432 00:20:28,760 --> 00:20:31,480 Speaker 1: cansh and carry is is pretty interesting and in this 433 00:20:31,520 --> 00:20:34,560 Speaker 1: type of environment it kind of works out um. And 434 00:20:34,600 --> 00:20:37,080 Speaker 1: it's it's an arbitrage trade. So that means that you 435 00:20:37,119 --> 00:20:39,920 Speaker 1: can buy low, sell high, and make the spread. And 436 00:20:39,960 --> 00:20:42,360 Speaker 1: so basically what you do is you sell the future 437 00:20:42,359 --> 00:20:45,520 Speaker 1: of the commodity and then you buy the spot if 438 00:20:45,520 --> 00:20:48,159 Speaker 1: there's a risk free profit that can be made. And 439 00:20:48,200 --> 00:20:50,080 Speaker 1: so what do I mean by that? So let's say 440 00:20:50,119 --> 00:20:53,280 Speaker 1: that bitcoin right now is at sixty three thousand dollars 441 00:20:53,359 --> 00:20:55,399 Speaker 1: or six Let's let's just say that hypothetically it's at 442 00:20:56,080 --> 00:20:58,560 Speaker 1: let's use easy numbers, So let's say it's at sixty 443 00:20:58,600 --> 00:21:01,919 Speaker 1: five dollars. Um, I can buy it at spot, but 444 00:21:02,000 --> 00:21:06,800 Speaker 1: I could I could sell a futures for December at 445 00:21:06,920 --> 00:21:10,760 Speaker 1: sixty five thousand, or let's called sixty six thousand. So 446 00:21:10,840 --> 00:21:13,560 Speaker 1: that means I could sell a contract someone would be 447 00:21:13,560 --> 00:21:17,080 Speaker 1: guaranteed to buy bitcoming from me at sixty six thousand 448 00:21:17,080 --> 00:21:20,040 Speaker 1: in December, but I could buy it for sixty five 449 00:21:20,080 --> 00:21:23,760 Speaker 1: thousand today. Well, that means I have a guaranteed one 450 00:21:23,920 --> 00:21:28,040 Speaker 1: thousand dollar profit, a risk free profit, because someone's already 451 00:21:28,080 --> 00:21:31,120 Speaker 1: entered the contract to buy it from me at that price. Um, 452 00:21:31,240 --> 00:21:33,320 Speaker 1: and so that's a cash and carry trade. What I 453 00:21:33,320 --> 00:21:35,920 Speaker 1: would do is I would sell the futures at sixty six, 454 00:21:36,160 --> 00:21:38,520 Speaker 1: I would buy it at sixty five, and boom, I 455 00:21:38,520 --> 00:21:42,439 Speaker 1: would instantly book a thousand dollars profit. Now, a thousand 456 00:21:42,480 --> 00:21:44,640 Speaker 1: dollars profit may not sound like that much, but imagine 457 00:21:44,640 --> 00:21:47,760 Speaker 1: if you're a hedge fund with with with billions of 458 00:21:47,800 --> 00:21:50,640 Speaker 1: dollars going into this, and it's a risk free trade, 459 00:21:50,840 --> 00:21:53,080 Speaker 1: it's a pretty big deal. Now, the risk free trade 460 00:21:53,119 --> 00:21:54,560 Speaker 1: is a big piece of that. I'm not going to 461 00:21:54,640 --> 00:21:56,880 Speaker 1: spend a lot of time talking about that today, but um, 462 00:21:57,000 --> 00:21:58,520 Speaker 1: one thing you have to think about when you're investing 463 00:21:58,560 --> 00:22:01,240 Speaker 1: is you have to think about your risk adjusted return 464 00:22:01,680 --> 00:22:04,119 Speaker 1: and so UM, while you may be able to make 465 00:22:04,160 --> 00:22:07,240 Speaker 1: a bigger return somewhere else, you also have to take 466 00:22:07,240 --> 00:22:10,159 Speaker 1: into a consideration the risk. So a risk free trade 467 00:22:10,280 --> 00:22:13,479 Speaker 1: is pretty amazing. And so I think with the demand 468 00:22:13,520 --> 00:22:17,600 Speaker 1: for bitcoin futures blasting off right now and the amount 469 00:22:17,680 --> 00:22:19,720 Speaker 1: of e t F flows. Remember I talked about as 470 00:22:19,760 --> 00:22:22,200 Speaker 1: an eight trillion dollar market, it's growing by twenty six 471 00:22:22,320 --> 00:22:25,640 Speaker 1: percent a year. With that amount of flows coming into 472 00:22:25,640 --> 00:22:27,800 Speaker 1: e t F s, then I think the future prices 473 00:22:27,840 --> 00:22:30,760 Speaker 1: will continue to go up and up and up, and 474 00:22:30,800 --> 00:22:33,400 Speaker 1: so I would expect more of these arbitragers to come 475 00:22:33,400 --> 00:22:36,080 Speaker 1: into the market and try to bank on that cash 476 00:22:36,160 --> 00:22:40,040 Speaker 1: and carry trade. As they do that, then it should 477 00:22:40,080 --> 00:22:43,040 Speaker 1: continue to push the price of bitcoin up, which means 478 00:22:43,040 --> 00:22:44,719 Speaker 1: will continue to see this and it kind of becomes 479 00:22:44,720 --> 00:22:47,639 Speaker 1: this like self fulfilling prophecy. It's kind of like the 480 00:22:47,800 --> 00:22:50,520 Speaker 1: price of bitcoin will just continue to skyrocket as this 481 00:22:50,800 --> 00:22:54,160 Speaker 1: chain of events continues on um, you know, real quick. 482 00:22:54,200 --> 00:22:57,800 Speaker 1: Just to jump back into the risk analysis, what's interesting 483 00:22:57,920 --> 00:23:01,000 Speaker 1: is that I started buying bitcoin in two thousand fifteen UM. 484 00:23:01,040 --> 00:23:02,760 Speaker 1: At the time, it was you know, a couple hundred bucks. 485 00:23:02,760 --> 00:23:04,640 Speaker 1: I think three d bucks four hundred bucks at the time. 486 00:23:05,200 --> 00:23:07,159 Speaker 1: But at the time, you know, up until you know, 487 00:23:07,320 --> 00:23:11,280 Speaker 1: so from those five years, UM big one was was. 488 00:23:11,359 --> 00:23:14,040 Speaker 1: I mean, it still is super volatile. I went up, 489 00:23:14,080 --> 00:23:16,000 Speaker 1: you know, and went up, and it went down and 490 00:23:16,000 --> 00:23:19,760 Speaker 1: went up, dropped up, dropped and I saw this happening 491 00:23:19,800 --> 00:23:22,560 Speaker 1: a bunch and so I wasn't super comfortable buying into it, 492 00:23:23,040 --> 00:23:25,160 Speaker 1: but I finally did, and it was it was still 493 00:23:25,240 --> 00:23:27,639 Speaker 1: very risky, right like, who knows what it was going 494 00:23:27,720 --> 00:23:29,560 Speaker 1: to be. Who knows there was all these other crypto 495 00:23:29,760 --> 00:23:32,359 Speaker 1: currencies coming on board. UM. You know, I knew it 496 00:23:32,359 --> 00:23:34,120 Speaker 1: at some point the government was gonna want to fight 497 00:23:34,119 --> 00:23:35,960 Speaker 1: against it UM and so there was a lot of 498 00:23:36,080 --> 00:23:39,960 Speaker 1: risk associated with it UM. And so at the time, 499 00:23:40,320 --> 00:23:42,919 Speaker 1: because it was so risky, I only allocated, you know, 500 00:23:43,040 --> 00:23:46,520 Speaker 1: a little bit to it UM. And over time, by 501 00:23:47,200 --> 00:23:51,800 Speaker 1: seen it was way more legitimate. UM, it was much bigger. 502 00:23:51,920 --> 00:23:55,200 Speaker 1: It had survived multiple crashes. UM. Now we had the CME, 503 00:23:55,359 --> 00:23:59,280 Speaker 1: the commodities you know, future exchange regulating it, so it 504 00:23:59,359 --> 00:24:02,560 Speaker 1: was way less risky in it was. So I put 505 00:24:02,600 --> 00:24:05,560 Speaker 1: more money into it UM. But today, I mean, if 506 00:24:05,560 --> 00:24:07,159 Speaker 1: I would have just taken the money I put in 507 00:24:07,240 --> 00:24:11,480 Speaker 1: this year alone, and put that in back in Uh, 508 00:24:11,720 --> 00:24:13,160 Speaker 1: you probably never would have heard of me. I would 509 00:24:13,160 --> 00:24:15,440 Speaker 1: have been gone long gone by now, but I didn't. 510 00:24:15,880 --> 00:24:17,520 Speaker 1: And the reason why it's because there was so much 511 00:24:17,640 --> 00:24:21,679 Speaker 1: risk back then. Now there's now, you know, there's less risk. 512 00:24:21,760 --> 00:24:25,600 Speaker 1: I'm putting in more money, I would say today, especially 513 00:24:25,640 --> 00:24:28,439 Speaker 1: now with this EF, I would say we're sitting on 514 00:24:28,520 --> 00:24:32,280 Speaker 1: pretty much I mean, the lowest amount of risk that 515 00:24:32,359 --> 00:24:36,880 Speaker 1: you could imagine with still an amazing return. So going 516 00:24:36,920 --> 00:24:39,840 Speaker 1: back to you know, an investor looking for a risk 517 00:24:39,960 --> 00:24:42,400 Speaker 1: adjusted return, and I've been I've been a full time 518 00:24:42,480 --> 00:24:45,760 Speaker 1: investor for over over two decades now, I've never seen 519 00:24:45,880 --> 00:24:49,000 Speaker 1: in my entire life, in my entire career, I've never 520 00:24:49,080 --> 00:24:52,800 Speaker 1: seen this good I'm going a risk adjusted return ever. 521 00:24:53,119 --> 00:24:55,159 Speaker 1: And so that's that's pretty amazing to think about. As 522 00:24:55,200 --> 00:24:59,160 Speaker 1: we're talking about that risk perspective. UM. Some other things 523 00:24:59,160 --> 00:25:02,280 Speaker 1: that are cool. I think about this et F is 524 00:25:02,280 --> 00:25:05,159 Speaker 1: that when you look at technology, UM, the way that 525 00:25:05,200 --> 00:25:09,800 Speaker 1: a new technology reaches adoption or UM you know, breaks 526 00:25:09,800 --> 00:25:13,600 Speaker 1: out into the marketplace is always predictable. All right. So 527 00:25:13,680 --> 00:25:19,360 Speaker 1: there's there's something called UM. There's something called the diffusion 528 00:25:20,000 --> 00:25:25,000 Speaker 1: of innovation. All right, So the diffusion of innovation basically, 529 00:25:25,359 --> 00:25:28,879 Speaker 1: it basically kind of charts how that diffusion, how it 530 00:25:28,920 --> 00:25:31,959 Speaker 1: gets down, how that that adoption happens, all right, and 531 00:25:32,040 --> 00:25:34,720 Speaker 1: so um, you've probably all seen this like Bell curve 532 00:25:34,840 --> 00:25:38,359 Speaker 1: chart where you have, like, um, the innovators in the beginning, 533 00:25:38,440 --> 00:25:40,240 Speaker 1: and then you have like the early adopters, and then 534 00:25:40,240 --> 00:25:42,200 Speaker 1: you have the early majority, and then the late majority 535 00:25:42,200 --> 00:25:43,800 Speaker 1: and then the laggers. So you've probably seen it like 536 00:25:43,800 --> 00:25:46,800 Speaker 1: this upside down. It's like a Bell curve chart. And 537 00:25:47,040 --> 00:25:48,600 Speaker 1: if you've if you've ever looked at that, you have 538 00:25:48,680 --> 00:25:51,520 Speaker 1: the innovators, the techies, then the early adopters which are 539 00:25:51,520 --> 00:25:53,840 Speaker 1: the visionaries, and then there's a gap there. And there's 540 00:25:53,840 --> 00:25:57,600 Speaker 1: a gap there. It's called the chasm. And what's interesting 541 00:25:57,640 --> 00:26:00,520 Speaker 1: about that chasm is that there was a book written 542 00:26:00,560 --> 00:26:02,880 Speaker 1: about it by Geoffrey moore Is. He wrote a book 543 00:26:02,880 --> 00:26:06,280 Speaker 1: called Crossing the Chasm, and he explains that the reason 544 00:26:06,280 --> 00:26:09,560 Speaker 1: why there's a chasm between the early adopters and the 545 00:26:09,640 --> 00:26:13,160 Speaker 1: early majority, um is because of that chasm, and it's 546 00:26:13,200 --> 00:26:17,520 Speaker 1: the hardest gap to close, and it's right around eighteen 547 00:26:17,600 --> 00:26:21,520 Speaker 1: and a half percent adoption. So the innovators that they're 548 00:26:21,560 --> 00:26:25,600 Speaker 1: like five the early adopters like another ten percent adoption, 549 00:26:25,680 --> 00:26:29,040 Speaker 1: and then there's that chasm. And in order to cross 550 00:26:29,160 --> 00:26:32,720 Speaker 1: the chasm, to go from the visionaries the true believers, 551 00:26:32,720 --> 00:26:35,880 Speaker 1: to go from them to the early majority, there has 552 00:26:35,920 --> 00:26:40,879 Speaker 1: to be a mental shift, right, something has to change 553 00:26:41,040 --> 00:26:45,399 Speaker 1: for that to happen and to bring those in. I 554 00:26:45,440 --> 00:26:48,119 Speaker 1: want to explain to you really what that is, Like 555 00:26:48,160 --> 00:26:50,560 Speaker 1: I said, what does that mental shift that has to happen? 556 00:26:50,840 --> 00:26:55,200 Speaker 1: And then more importantly, what happens once we crossed the chasm? 557 00:26:55,240 --> 00:26:59,520 Speaker 1: And then even more importantly, where are we in that 558 00:27:00,119 --> 00:27:02,640 Speaker 1: right now? Where are we at in that chasm? And 559 00:27:02,680 --> 00:27:05,480 Speaker 1: what does this Bitcoin e t F have to do 560 00:27:05,640 --> 00:27:10,679 Speaker 1: with it? Um, There's also another piece of another model 561 00:27:10,720 --> 00:27:12,879 Speaker 1: that we would use, and it's called an S curve, 562 00:27:12,920 --> 00:27:15,679 Speaker 1: And an S curve is also used to measure, you know, 563 00:27:15,720 --> 00:27:19,040 Speaker 1: this diffusion of innovation or this this adoption cycle. And 564 00:27:19,160 --> 00:27:22,160 Speaker 1: we can take this S curve and we can overlay 565 00:27:22,200 --> 00:27:25,880 Speaker 1: it on top of the Bell curve diffusion chart. And 566 00:27:26,280 --> 00:27:29,840 Speaker 1: I think you might be pretty surprised with the answer. Now, 567 00:27:29,880 --> 00:27:32,480 Speaker 1: if you're following me on Twitter, UM, I've put some 568 00:27:32,520 --> 00:27:34,320 Speaker 1: of this onto my Twitter a few days ago, and 569 00:27:34,480 --> 00:27:36,440 Speaker 1: you can actually see the charts and see how I've 570 00:27:36,480 --> 00:27:39,560 Speaker 1: overlaid them. I'll explain it to you here on the radio. 571 00:27:40,200 --> 00:27:42,200 Speaker 1: But if you're not following me on Twitter already you should. 572 00:27:42,280 --> 00:27:44,520 Speaker 1: I'm just number one Mark Moss again, number one Mark 573 00:27:44,560 --> 00:27:47,399 Speaker 1: Moss on Twitter and Instagram. Send me ms said, shout 574 00:27:47,400 --> 00:27:49,080 Speaker 1: at me. Ask me a question. I'll make sure to 575 00:27:49,080 --> 00:27:51,760 Speaker 1: answer it live um next week. And of course you're 576 00:27:51,800 --> 00:27:53,720 Speaker 1: listening to the Mark mos Show. We're talking about bitcoin, 577 00:27:53,720 --> 00:27:57,679 Speaker 1: cryptocurrencies and the decentralized Revolution. And I'll be right back. 578 00:27:58,320 --> 00:28:00,600 Speaker 1: All right, welcome back. You're listening to them show. We're 579 00:28:00,600 --> 00:28:04,400 Speaker 1: talking about bitcoin, We're talking about cryptocurrencies and the decentralized revolution. 580 00:28:04,440 --> 00:28:07,119 Speaker 1: We have been talking about the price breaking new all 581 00:28:07,200 --> 00:28:09,639 Speaker 1: time highs. We've been talking about the catalyst that we're 582 00:28:09,680 --> 00:28:13,000 Speaker 1: involved in that from China banning it, which was pushing 583 00:28:13,040 --> 00:28:15,560 Speaker 1: more people into it. We talked about how the government 584 00:28:15,560 --> 00:28:17,399 Speaker 1: of the United States says they won't ban it, and 585 00:28:17,480 --> 00:28:20,080 Speaker 1: now how Wall Street has adopted it with this e 586 00:28:20,240 --> 00:28:22,640 Speaker 1: t F, which I think is really big news. I mean, 587 00:28:22,680 --> 00:28:25,320 Speaker 1: I was explained to the differences of the two different 588 00:28:25,320 --> 00:28:27,359 Speaker 1: types of e t F, the dangers, the really the 589 00:28:27,480 --> 00:28:29,280 Speaker 1: risks that are associated with some of them that you 590 00:28:29,280 --> 00:28:31,240 Speaker 1: need to be careful of. How I think you should 591 00:28:31,280 --> 00:28:34,439 Speaker 1: be buying it, which spoiler alert is don't buy it 592 00:28:34,440 --> 00:28:37,320 Speaker 1: through then ETF, just buy it directly. UM. And then 593 00:28:37,400 --> 00:28:41,520 Speaker 1: I was going into talking about this adoption cycle and 594 00:28:41,640 --> 00:28:45,360 Speaker 1: how there's these kind of dependable models that new technology 595 00:28:45,480 --> 00:28:48,160 Speaker 1: goes through, and I was explaining how in this book 596 00:28:48,160 --> 00:28:51,200 Speaker 1: by Geoffrey Moore, UM, there's a book titled The Crossing 597 00:28:51,280 --> 00:28:54,600 Speaker 1: the Chasm, and it talks about how any new technology 598 00:28:54,800 --> 00:28:57,320 Speaker 1: kind of goes to this this bell curve where it's innovators, 599 00:28:57,560 --> 00:29:01,720 Speaker 1: early adopters UM to early ority, late majority, and laggers 600 00:29:01,760 --> 00:29:04,560 Speaker 1: and this, UH, this in between the early adopters, the 601 00:29:04,640 --> 00:29:08,800 Speaker 1: visionaries and the early majority is this thing called the chasm. 602 00:29:08,840 --> 00:29:11,640 Speaker 1: And the chasm is about at about an eighteen percent 603 00:29:11,720 --> 00:29:14,240 Speaker 1: adoption rate, so about eighteen percent of the population would 604 00:29:14,280 --> 00:29:16,360 Speaker 1: be using at that point. And it's the hardest part 605 00:29:16,400 --> 00:29:20,000 Speaker 1: to get over. And the reason why is because, UM, 606 00:29:20,360 --> 00:29:24,360 Speaker 1: the mind shift has to happen because the visionaries are 607 00:29:24,400 --> 00:29:26,480 Speaker 1: like the true believers. But then it's hard to get 608 00:29:26,480 --> 00:29:29,600 Speaker 1: the early majority in and so we really have to 609 00:29:29,720 --> 00:29:34,600 Speaker 1: change the entire way the market looks at it and UM, 610 00:29:34,960 --> 00:29:37,680 Speaker 1: I think, well, we we we have that, and then 611 00:29:37,720 --> 00:29:39,640 Speaker 1: we have this S curve. And S curve is another 612 00:29:39,680 --> 00:29:42,560 Speaker 1: model where we can also look at adoption. And so 613 00:29:42,600 --> 00:29:44,600 Speaker 1: when we look at S curve, basically the way an 614 00:29:44,680 --> 00:29:48,120 Speaker 1: ES curve works is imagine a S lane on its side, 615 00:29:48,560 --> 00:29:50,200 Speaker 1: so you kind of have the S at the bottom, 616 00:29:50,240 --> 00:29:52,720 Speaker 1: and then it makes a left turn going up vertical, 617 00:29:53,280 --> 00:29:55,000 Speaker 1: and then it kind of makes a right turn or 618 00:29:55,040 --> 00:29:56,640 Speaker 1: curve I should say, a right curve, and then goes 619 00:29:56,720 --> 00:29:59,560 Speaker 1: kind of horizontal again. And and so the S curve 620 00:29:59,640 --> 00:30:02,200 Speaker 1: the way it works is UM. However long it takes 621 00:30:02,200 --> 00:30:04,920 Speaker 1: for a new technology to get to ten percent adoption 622 00:30:05,640 --> 00:30:07,480 Speaker 1: is typically the time that it would take to go 623 00:30:07,640 --> 00:30:13,040 Speaker 1: from ten to adoption. So for example, UM, well, for 624 00:30:13,040 --> 00:30:16,600 Speaker 1: for for for this purpose, UM, it took about ten 625 00:30:16,760 --> 00:30:21,000 Speaker 1: years for Bitcoin to reach about ten percent of the adoption. 626 00:30:21,680 --> 00:30:24,720 Speaker 1: So then that means that then UM, it should take 627 00:30:24,840 --> 00:30:29,560 Speaker 1: another ten years to get to So that means that 628 00:30:29,600 --> 00:30:33,600 Speaker 1: it should happen by about which is about eight years 629 00:30:33,640 --> 00:30:37,120 Speaker 1: from now. Now, if we take that S curve and 630 00:30:37,160 --> 00:30:41,400 Speaker 1: then we lay that over the UM the upside down 631 00:30:41,440 --> 00:30:45,080 Speaker 1: bell curve, this diffusion of innovation UM, and remember the 632 00:30:45,240 --> 00:30:51,680 Speaker 1: chasm sits right around that UM line. We can if 633 00:30:51,720 --> 00:30:53,920 Speaker 1: we lay the S curve over this bell curve, we 634 00:30:53,960 --> 00:30:58,479 Speaker 1: can see that the current amount of bitcoin adoption today 635 00:30:58,560 --> 00:31:01,520 Speaker 1: sits right at this chasm. And remember to cross the 636 00:31:01,600 --> 00:31:04,960 Speaker 1: chasm is when things really take off, they blow up. 637 00:31:05,000 --> 00:31:06,800 Speaker 1: And the reason why it's because we have to change 638 00:31:06,840 --> 00:31:10,920 Speaker 1: the perception UM to get across that chasm. And I 639 00:31:10,960 --> 00:31:15,080 Speaker 1: think that that is what is happening right now. Remember UM. 640 00:31:15,200 --> 00:31:16,600 Speaker 1: One of the biggest objections people have is that it 641 00:31:16,640 --> 00:31:18,760 Speaker 1: can be made illegal, and UM we've seen in the 642 00:31:18,800 --> 00:31:21,640 Speaker 1: last week or two both ahead of the SEC, Gary 643 00:31:21,640 --> 00:31:24,720 Speaker 1: Gensler and the head of the Jeroan Powell, both said 644 00:31:24,720 --> 00:31:26,920 Speaker 1: they won't make bitcoin illegal. And then we got the 645 00:31:26,920 --> 00:31:29,960 Speaker 1: Bitcoin e t F. And I think even though it's 646 00:31:30,000 --> 00:31:33,480 Speaker 1: not the best vehicle to buy bitcoin UM or own bitcoin, 647 00:31:33,680 --> 00:31:35,280 Speaker 1: well you don't even own it, right, all you're doing 648 00:31:35,320 --> 00:31:37,760 Speaker 1: is betting on the price. What it does is it 649 00:31:37,840 --> 00:31:42,080 Speaker 1: changes the perception, right. It changes the perspective where people 650 00:31:42,120 --> 00:31:45,480 Speaker 1: who think that you know, um, Wall Streets legitimate, and 651 00:31:45,560 --> 00:31:49,280 Speaker 1: now there's a legitimate Wall Street fund for a bitcoin. 652 00:31:49,440 --> 00:31:53,400 Speaker 1: It changes the perception. And that's exactly what has to 653 00:31:53,480 --> 00:31:57,680 Speaker 1: happen to go from the visionary to the early majority. 654 00:31:58,200 --> 00:32:01,200 Speaker 1: And remember at the S curve is when things really 655 00:32:01,280 --> 00:32:04,120 Speaker 1: start taking off, right, So ten years to get to 656 00:32:04,160 --> 00:32:07,040 Speaker 1: tempercent adoption and then another ten years to go from 657 00:32:07,040 --> 00:32:11,200 Speaker 1: ten percent to adoptions. That's like a parabolic run. And 658 00:32:11,240 --> 00:32:13,160 Speaker 1: I think that's where we're going. I think that's what 659 00:32:13,280 --> 00:32:16,280 Speaker 1: this et F represents UM, and I think we're going 660 00:32:16,360 --> 00:32:20,200 Speaker 1: to continue to see fireworks. Now. Of course there's bigger catalysts, 661 00:32:20,200 --> 00:32:22,440 Speaker 1: and we talked about them all the time. We saw, 662 00:32:22,680 --> 00:32:24,640 Speaker 1: you know, not just what's going on in the United States, 663 00:32:24,680 --> 00:32:26,840 Speaker 1: but of course we're seeing you know, El Salvador, a 664 00:32:27,000 --> 00:32:30,920 Speaker 1: nation now has started adopting it UM and and that's 665 00:32:30,920 --> 00:32:34,520 Speaker 1: only been continuing to grow. UM. They passed a law 666 00:32:34,680 --> 00:32:38,680 Speaker 1: September seven, so I don't know, six weeks ago approximately, 667 00:32:39,240 --> 00:32:42,600 Speaker 1: UM to make a bitcoin legal tender in El Salvador. 668 00:32:42,800 --> 00:32:45,440 Speaker 1: And then what they did is they created their own wallet, 669 00:32:45,560 --> 00:32:48,800 Speaker 1: and anybody in El Salvador that downloaded the wallet was 670 00:32:48,880 --> 00:32:53,480 Speaker 1: given thirty dollars of a free bitcoin just for downloading 671 00:32:53,480 --> 00:32:56,440 Speaker 1: the wallet and using it, which was pretty cool. Since 672 00:32:56,520 --> 00:32:59,320 Speaker 1: that time, anybody that got that free bitcoin and has 673 00:32:59,320 --> 00:33:02,080 Speaker 1: sat on it has seen their wealth grow by about 674 00:33:02,080 --> 00:33:05,000 Speaker 1: thirty five percent, so that's pretty cool. Um. And we've 675 00:33:05,040 --> 00:33:08,960 Speaker 1: also seen massive bitcoin adoption happening. Um More people I 676 00:33:08,960 --> 00:33:11,360 Speaker 1: think are using bitcoin wallets than are using bank accounts 677 00:33:11,360 --> 00:33:14,080 Speaker 1: in El Salvador now, which is pretty amazing. Um. Today 678 00:33:14,160 --> 00:33:17,840 Speaker 1: we saw an airline Valarus Airline said now you can 679 00:33:17,880 --> 00:33:21,240 Speaker 1: start paying for your airline tickets in bitcoin, and so 680 00:33:21,400 --> 00:33:24,000 Speaker 1: we're just I mean, things are just really really really 681 00:33:24,000 --> 00:33:28,240 Speaker 1: starting to escalate super super fast, which is pretty interesting 682 00:33:28,560 --> 00:33:31,400 Speaker 1: as we continue to see this this uh, this progress. 683 00:33:31,920 --> 00:33:34,160 Speaker 1: I was also talking about wanting to kind of jump 684 00:33:34,240 --> 00:33:38,480 Speaker 1: in and talk about one of the maybe most well known, 685 00:33:38,520 --> 00:33:42,600 Speaker 1: you know, billionaire venture capitalist, Peter Thiel. He's famous for 686 00:33:42,720 --> 00:33:45,040 Speaker 1: being involved in PayPal and running some of the biggest 687 00:33:45,120 --> 00:33:49,640 Speaker 1: incubators in Silicon Valley, and he's also kind of somewhat 688 00:33:49,680 --> 00:33:52,800 Speaker 1: known and uh known in the bitcoin world um as 689 00:33:53,520 --> 00:33:56,440 Speaker 1: as being an early bitcoin investor, which is not typical 690 00:33:56,520 --> 00:33:59,840 Speaker 1: for these venture capitalists. UM, but he he is one 691 00:33:59,840 --> 00:34:02,479 Speaker 1: of them, um that that has come in early. And 692 00:34:02,560 --> 00:34:04,800 Speaker 1: he was at a it was at a meeting this 693 00:34:04,960 --> 00:34:08,440 Speaker 1: last week and he said some pretty interesting things and 694 00:34:08,520 --> 00:34:10,120 Speaker 1: one of the things that he said was that, well 695 00:34:10,200 --> 00:34:13,040 Speaker 1: he was he was kind of drawing this comparison. He's 696 00:34:13,040 --> 00:34:14,920 Speaker 1: a tech billionaire, right, That's how he new his money, 697 00:34:15,280 --> 00:34:16,520 Speaker 1: being at the front end of these things. And he 698 00:34:16,800 --> 00:34:20,640 Speaker 1: basically praised bitcoin and cryptocurrencies and then he slammed the 699 00:34:20,680 --> 00:34:22,600 Speaker 1: central banks at the same time. This is on a 700 00:34:22,640 --> 00:34:26,480 Speaker 1: Wednesday of this week. And um, he said, quote, you're 701 00:34:26,560 --> 00:34:31,160 Speaker 1: supposed to just buy bitcoin. End quote what he said, 702 00:34:31,160 --> 00:34:34,000 Speaker 1: you're supposed to buy it. There's a term hoddler h 703 00:34:34,080 --> 00:34:36,040 Speaker 1: o d l hold on for dear life, and you 704 00:34:36,160 --> 00:34:37,880 Speaker 1: just buy and just hoddle it as it buy and 705 00:34:37,920 --> 00:34:41,040 Speaker 1: hoddle it. Um. And then he went on he said, quote, 706 00:34:42,000 --> 00:34:46,280 Speaker 1: I feel like I've been under invested in it. End quote. Now, 707 00:34:47,840 --> 00:34:51,120 Speaker 1: anytime you buy an investment and it goes up in value, 708 00:34:51,200 --> 00:34:53,560 Speaker 1: especially a big value like this, you're always going to 709 00:34:53,680 --> 00:34:56,520 Speaker 1: feel like you're under invested. Dang it, I should have 710 00:34:56,560 --> 00:34:59,080 Speaker 1: bought more. It's going to be the typical response. Um. 711 00:34:59,120 --> 00:35:00,480 Speaker 1: So it's funny that he said that, but that's a 712 00:35:00,480 --> 00:35:03,160 Speaker 1: typical response. But also, um, if you bought something to 713 00:35:03,160 --> 00:35:04,720 Speaker 1: hope it goes up in value and it goes down 714 00:35:04,719 --> 00:35:07,520 Speaker 1: in value, then you also say the second thing, the opposite, 715 00:35:07,520 --> 00:35:09,680 Speaker 1: which is, dang it, why did I put so much money? 716 00:35:09,680 --> 00:35:12,279 Speaker 1: In UM. So it's it's kind of funny to see 717 00:35:12,320 --> 00:35:15,759 Speaker 1: someone as as as experienced as he is kind of 718 00:35:15,880 --> 00:35:19,720 Speaker 1: still have that same kind of fomo approach or whatever 719 00:35:19,760 --> 00:35:21,600 Speaker 1: that most of us would have, where he's like, dang, 720 00:35:21,640 --> 00:35:24,239 Speaker 1: and I feel like I'm under invested. Um. But of 721 00:35:24,280 --> 00:35:27,200 Speaker 1: course some of the real bitcoin believers, like myself says 722 00:35:27,239 --> 00:35:29,360 Speaker 1: that if you still have any cash to put into bitcoin, 723 00:35:29,400 --> 00:35:32,319 Speaker 1: then you're probably underinvested, and so he's probably there. But 724 00:35:32,400 --> 00:35:35,399 Speaker 1: I really love what he said. After that, he went 725 00:35:35,400 --> 00:35:37,360 Speaker 1: on to say something, So, what have I been repeating 726 00:35:37,440 --> 00:35:40,520 Speaker 1: over and over every single show and uh, this whole episode. 727 00:35:40,719 --> 00:35:44,200 Speaker 1: I keep talking about having uh an asymmetric opportunity, right, 728 00:35:44,200 --> 00:35:47,200 Speaker 1: more upside than downside. And I talk about UM having 729 00:35:47,200 --> 00:35:50,160 Speaker 1: that asymmetric opportunity, and the way to take advantage of 730 00:35:50,160 --> 00:35:52,480 Speaker 1: it is to have asymmetric information. Right, I say it 731 00:35:52,520 --> 00:35:54,160 Speaker 1: over and over, say it all the time. Well, he 732 00:35:54,239 --> 00:35:59,120 Speaker 1: said um Fiel said his only hesitation about investing was 733 00:35:59,200 --> 00:36:03,719 Speaker 1: that he thought, quote the secret was already known by 734 00:36:03,880 --> 00:36:09,319 Speaker 1: everybody end quote mm hmm. His hesitation, so he said 735 00:36:09,320 --> 00:36:12,000 Speaker 1: he was under invested. Why was he under invested? Well, 736 00:36:12,000 --> 00:36:16,080 Speaker 1: his hesitation was he thought the secret was already known 737 00:36:16,160 --> 00:36:18,839 Speaker 1: by everybody. He thought he didn't have an edge, He 738 00:36:18,880 --> 00:36:21,880 Speaker 1: thought he didn't have asymmetric information. Then he goes on 739 00:36:21,920 --> 00:36:25,839 Speaker 1: to say he concluded that quote I think the answers 740 00:36:25,960 --> 00:36:32,160 Speaker 1: are still go along and quote maybe it's still is 741 00:36:32,400 --> 00:36:36,560 Speaker 1: enough of a secret. Wow, one of the biggest and 742 00:36:36,800 --> 00:36:41,080 Speaker 1: Welsh most well known venture capitalist tech investors UM didn't 743 00:36:41,080 --> 00:36:43,400 Speaker 1: buy enough. He says he's regrets he's underinvested because he 744 00:36:43,440 --> 00:36:45,880 Speaker 1: thought it was too well known. But now he realized, 745 00:36:46,000 --> 00:36:48,960 Speaker 1: quote maybe it's still enough of a secret, and it 746 00:36:48,960 --> 00:36:50,960 Speaker 1: certainly is. Go out to them all, go out to 747 00:36:50,960 --> 00:36:52,920 Speaker 1: a park, talk to a hundred people. Asked him how 748 00:36:52,920 --> 00:36:55,839 Speaker 1: many people UM own bitcoin? And you're gonna find out 749 00:36:55,960 --> 00:36:58,719 Speaker 1: hardly anybody knows about it. Uh. The information they have 750 00:36:58,840 --> 00:37:03,280 Speaker 1: is wrong and not equipped to take advantage of this opportunity. 751 00:37:03,320 --> 00:37:05,600 Speaker 1: But that's why you're listening to me, That's why you're 752 00:37:05,640 --> 00:37:08,120 Speaker 1: join with me each and every week. UM, I'm bringing 753 00:37:08,160 --> 00:37:10,960 Speaker 1: you the asymmetric information that you need to take advantage 754 00:37:10,960 --> 00:37:13,600 Speaker 1: of this asymmetric opportunity. So pull up your phone, put 755 00:37:13,600 --> 00:37:15,200 Speaker 1: a reminder to come back each and every week at 756 00:37:15,200 --> 00:37:17,400 Speaker 1: this time this channel, and of course send me a 757 00:37:17,400 --> 00:37:19,640 Speaker 1: message on Twitter. I'm at one Mark Moss again on 758 00:37:19,680 --> 00:37:22,799 Speaker 1: Twitter at one Mark Moss and Instagram as well. Send 759 00:37:22,840 --> 00:37:25,000 Speaker 1: me a message, ask me a question, and I'll make 760 00:37:25,040 --> 00:37:28,560 Speaker 1: sure to answer it on the radio next week I'll 761 00:37:28,600 --> 00:37:30,280 Speaker 1: Mark Moss. Thanks for listening.