1 00:00:00,200 --> 00:00:02,920 Speaker 1: Welcome to another episode of The Mark Mass Show, where 2 00:00:02,960 --> 00:00:06,640 Speaker 1: I am bringing you the latest information on bitcoin and 3 00:00:06,720 --> 00:00:11,000 Speaker 1: cryptocurrencies and of course this decentralized revolution that we are 4 00:00:11,080 --> 00:00:13,520 Speaker 1: going through right now. Now. I want to start off 5 00:00:13,520 --> 00:00:14,960 Speaker 1: the show to tell you that I am going to 6 00:00:14,960 --> 00:00:17,800 Speaker 1: bring you the latest news that you need this weekend 7 00:00:18,000 --> 00:00:19,960 Speaker 1: to catch you up on what is going on in 8 00:00:20,000 --> 00:00:24,000 Speaker 1: the bitcoin of the cryptocurrency space. I cannot understate this, 9 00:00:24,560 --> 00:00:26,880 Speaker 1: or I guess I should say I can't overstate this enough. 10 00:00:27,200 --> 00:00:30,200 Speaker 1: Um can't get that right. But I don't want to 11 00:00:30,200 --> 00:00:33,160 Speaker 1: be dramatic, but I'm telling you the truth here. This 12 00:00:33,280 --> 00:00:36,000 Speaker 1: is this will be the biggest opportunity that you've ever 13 00:00:36,120 --> 00:00:38,960 Speaker 1: had in your lifetime, and not just your or my lifetime. 14 00:00:38,960 --> 00:00:42,319 Speaker 1: I'm talking about generations. It's that big. We're on the 15 00:00:42,400 --> 00:00:45,959 Speaker 1: verge of this or we're actually witnessing this technological revolution 16 00:00:45,960 --> 00:00:49,960 Speaker 1: that's happening, of course, and this presents us with the 17 00:00:50,000 --> 00:00:53,239 Speaker 1: best asymmetric opportunity that means more upside than downside, and 18 00:00:53,240 --> 00:00:56,480 Speaker 1: of course you participate in that by having a symmetric 19 00:00:56,560 --> 00:00:58,440 Speaker 1: information That means you have to know something that most 20 00:00:58,480 --> 00:01:00,160 Speaker 1: people don't have. And so that's what I bring to you. 21 00:01:00,240 --> 00:01:03,480 Speaker 1: Each and every week here on the Mark Moss Show. 22 00:01:04,200 --> 00:01:07,920 Speaker 1: So right before I jump into the hottest news that 23 00:01:07,959 --> 00:01:09,720 Speaker 1: you need to know, just real quick if you want, 24 00:01:09,760 --> 00:01:13,720 Speaker 1: grab your phone, put a reminder this time, this channel 25 00:01:14,160 --> 00:01:15,920 Speaker 1: come back each and every week. It is going to 26 00:01:16,000 --> 00:01:18,720 Speaker 1: be the most beneficial, the most profitable time that you 27 00:01:18,760 --> 00:01:21,120 Speaker 1: will spend each every week. So come hang out with me, 28 00:01:21,160 --> 00:01:23,560 Speaker 1: of course. Hit me up on social media. UM one 29 00:01:23,720 --> 00:01:26,360 Speaker 1: Mark Moss. That's right, one Mark Moss. That's the number one. 30 00:01:26,560 --> 00:01:27,880 Speaker 1: You can find me on Twitter, you can find me 31 00:01:27,920 --> 00:01:29,800 Speaker 1: on Instagram. Send me a message, ask me a question. 32 00:01:29,800 --> 00:01:32,639 Speaker 1: I'll make sure to answer it live on the show 33 00:01:33,360 --> 00:01:35,240 Speaker 1: next week. I'd love to hear from you guys. Tell 34 00:01:35,280 --> 00:01:37,080 Speaker 1: me you heard me on the radio. And with that, 35 00:01:37,160 --> 00:01:39,840 Speaker 1: let's go ahead and talk about what is going on 36 00:01:40,160 --> 00:01:43,640 Speaker 1: in the bitcoin and cryptocurrency world, because there's a lot 37 00:01:43,720 --> 00:01:46,960 Speaker 1: happening now. There's a quote that I say quite often. 38 00:01:47,040 --> 00:01:50,080 Speaker 1: It's um not from somebody admire, but I like the quote, 39 00:01:50,080 --> 00:01:53,760 Speaker 1: and it's from a Lenin. That's right. The Russians are 40 00:01:53,760 --> 00:01:55,840 Speaker 1: that did a lot of damage in Russia. I will 41 00:01:55,880 --> 00:01:58,960 Speaker 1: just leave at that. But he said that there's decades 42 00:01:59,000 --> 00:02:02,360 Speaker 1: where nothing seems to happen and then there's days where 43 00:02:02,480 --> 00:02:04,600 Speaker 1: decades seem to happen, and so you know, it's not 44 00:02:04,720 --> 00:02:07,680 Speaker 1: every single week we have big, big things happening. But 45 00:02:07,800 --> 00:02:11,240 Speaker 1: this week we have some big things. First, we're just 46 00:02:11,240 --> 00:02:13,720 Speaker 1: gonna start with a little bit of the price. I 47 00:02:13,720 --> 00:02:15,520 Speaker 1: don't like to focus on the price, as I like 48 00:02:15,600 --> 00:02:17,280 Speaker 1: to say over and over and over in each other week, 49 00:02:17,320 --> 00:02:21,360 Speaker 1: that the price is a distraction. The prices a distraction. 50 00:02:21,400 --> 00:02:23,400 Speaker 1: You should not be And I don't care if it's 51 00:02:23,400 --> 00:02:25,359 Speaker 1: a bitcoin or cryptocurrency. I don't care if it's gold, 52 00:02:25,400 --> 00:02:28,000 Speaker 1: if it's if it's Tesla stock, I don't care what 53 00:02:28,360 --> 00:02:30,520 Speaker 1: the asset is. You should never be looking at the 54 00:02:30,520 --> 00:02:33,400 Speaker 1: price on a daily, weekly or monthly basis. I mean, 55 00:02:33,440 --> 00:02:35,560 Speaker 1: if you're a day trader, I guess then you should. 56 00:02:35,560 --> 00:02:36,960 Speaker 1: You should be looking at it a minut a minute 57 00:02:37,000 --> 00:02:40,760 Speaker 1: by minute. Unfortunately, about nine percent of day traders lose 58 00:02:40,800 --> 00:02:42,480 Speaker 1: their money. I know it sounds fun, I know it's exciting, 59 00:02:42,480 --> 00:02:45,440 Speaker 1: it's like gambling is super cool, But the reality is 60 00:02:45,639 --> 00:02:47,639 Speaker 1: you get burned out, you get stressed out, and then 61 00:02:47,720 --> 00:02:50,919 Speaker 1: most likely you lose money. So for the majority of us, 62 00:02:51,160 --> 00:02:53,360 Speaker 1: we don't want to be looking at the price on 63 00:02:53,400 --> 00:02:56,000 Speaker 1: a regular basis. I like to say that the price 64 00:02:56,120 --> 00:02:58,040 Speaker 1: is a short term distraction. As a matter of fact, 65 00:02:58,680 --> 00:03:01,799 Speaker 1: there was a study that came out and it said 66 00:03:01,880 --> 00:03:03,720 Speaker 1: that I don't have it pulled up in front of me, 67 00:03:03,720 --> 00:03:05,560 Speaker 1: so I'm just gonna kind of paraphrase what the study was. 68 00:03:05,600 --> 00:03:08,440 Speaker 1: It just came out recently, and it said that investors 69 00:03:09,240 --> 00:03:14,440 Speaker 1: that get too much information actually do worse with their investments, 70 00:03:14,680 --> 00:03:17,560 Speaker 1: which seems kind of counterintuitive, right, because you would think 71 00:03:17,600 --> 00:03:20,160 Speaker 1: if you had the most up to date information that 72 00:03:20,200 --> 00:03:24,160 Speaker 1: you would have better results. But that's actually not what 73 00:03:24,240 --> 00:03:27,560 Speaker 1: this research shows. And the reason why is because you 74 00:03:27,600 --> 00:03:29,560 Speaker 1: have too much information coming in and you feel like 75 00:03:29,600 --> 00:03:32,839 Speaker 1: you need to react to everything. I need to do something, 76 00:03:32,880 --> 00:03:34,680 Speaker 1: I need to do something to do something, and so 77 00:03:34,760 --> 00:03:37,960 Speaker 1: too much information is actually a problem. Um. And it 78 00:03:38,080 --> 00:03:40,600 Speaker 1: kind of goes along with something that one of the greatest, 79 00:03:40,920 --> 00:03:44,280 Speaker 1: most quotable investors in the history of the world, UM says, my. 80 00:03:44,480 --> 00:03:47,760 Speaker 1: You know, our good old uncle Warren Buffett lots of 81 00:03:47,760 --> 00:03:50,480 Speaker 1: wisdom that he can share with us, and he's he 82 00:03:50,560 --> 00:03:53,040 Speaker 1: used to say that if a new investor came into 83 00:03:53,080 --> 00:03:56,840 Speaker 1: the into the space and knew that for his entire career, 84 00:03:57,600 --> 00:04:01,040 Speaker 1: he only had twenty moves. That's it. His whole career. 85 00:04:01,080 --> 00:04:03,520 Speaker 1: He could only do twenty moves, that would be the 86 00:04:03,560 --> 00:04:06,160 Speaker 1: best thing that could ever happen to him. And the 87 00:04:06,200 --> 00:04:08,600 Speaker 1: reason why is again, uh, the same thing as not 88 00:04:08,680 --> 00:04:11,240 Speaker 1: having you know, having too much information, is then you're 89 00:04:11,280 --> 00:04:15,440 Speaker 1: going to take advantage of big moves that take a 90 00:04:15,480 --> 00:04:17,719 Speaker 1: long time to play out, and you're gonna be patient 91 00:04:18,080 --> 00:04:20,840 Speaker 1: because you only have twenty moves, and so they kind 92 00:04:20,839 --> 00:04:22,520 Speaker 1: of work hand in hand. And so back to bitcoin 93 00:04:22,560 --> 00:04:26,080 Speaker 1: and cryptocurrencies. Um, the price has been moving around, it's 94 00:04:26,120 --> 00:04:28,800 Speaker 1: been really very volatile. As a matter of fact, Um, 95 00:04:29,120 --> 00:04:33,799 Speaker 1: last week, October twenty two, we saw bitcoin reach new 96 00:04:34,000 --> 00:04:37,280 Speaker 1: all time highs, which of course was super exciting, fireworks 97 00:04:37,279 --> 00:04:42,040 Speaker 1: going off, high fives and congratulations to everyone because I 98 00:04:42,040 --> 00:04:44,240 Speaker 1: guess we hit a new all time high. But again, 99 00:04:44,920 --> 00:04:48,120 Speaker 1: especially when it comes to new technologies like bitcoin and cryptocurrencies, 100 00:04:48,160 --> 00:04:50,320 Speaker 1: the price isn't what we should be looking at. Instead, 101 00:04:50,680 --> 00:04:52,200 Speaker 1: there's two things that we want to look at, and 102 00:04:52,200 --> 00:04:53,719 Speaker 1: I talked about this each and every week, and I 103 00:04:53,800 --> 00:04:56,440 Speaker 1: keep you up to date on these things because these 104 00:04:56,480 --> 00:04:58,760 Speaker 1: are the most important, not the price. The two most 105 00:04:58,760 --> 00:05:00,960 Speaker 1: important things that we talked about every week are one 106 00:05:01,760 --> 00:05:05,800 Speaker 1: the adoption, the network growth the growth of the network, 107 00:05:05,839 --> 00:05:08,240 Speaker 1: and that goes back to something called Metcalf's law. Metcalf's 108 00:05:08,320 --> 00:05:11,280 Speaker 1: law says that the more the network grows, the more 109 00:05:11,320 --> 00:05:14,159 Speaker 1: the value grows. It's exponential and and and the super 110 00:05:15,120 --> 00:05:18,159 Speaker 1: easy analogy would be that if I'm the only person 111 00:05:18,200 --> 00:05:20,960 Speaker 1: in the world with a telephone, it's not very valuable. 112 00:05:20,960 --> 00:05:22,920 Speaker 1: Who the heck am I gonna call? If one other 113 00:05:22,960 --> 00:05:25,360 Speaker 1: person has a phone, it's a little bit more valuable. 114 00:05:25,360 --> 00:05:27,800 Speaker 1: More people have phones, it's more valuable when everybody in 115 00:05:27,839 --> 00:05:29,799 Speaker 1: the world has a phone. Of course, it's much more valuable. 116 00:05:30,360 --> 00:05:35,919 Speaker 1: Funny story, I'm old, old enough to have lived before 117 00:05:35,920 --> 00:05:39,200 Speaker 1: cell phones, that is anyway, And I remember I think 118 00:05:39,200 --> 00:05:40,839 Speaker 1: it was like right after I got out of high school, 119 00:05:40,880 --> 00:05:44,200 Speaker 1: I got my very first mobile phone. They had been 120 00:05:44,200 --> 00:05:46,920 Speaker 1: around for a while. It wasn't like the big briefcase 121 00:05:46,960 --> 00:05:48,680 Speaker 1: ones that you saw like Wall Street traders with like 122 00:05:48,720 --> 00:05:50,760 Speaker 1: in the eighties and car phones. It was it was 123 00:05:50,800 --> 00:05:52,400 Speaker 1: it was a little bit newer than that, but it 124 00:05:52,520 --> 00:05:56,600 Speaker 1: was still just numeric only, so on the display it 125 00:05:56,600 --> 00:05:59,200 Speaker 1: just showed numbers and didn't even have alpha on there. 126 00:05:59,360 --> 00:06:01,080 Speaker 1: So it's kind of and I remember I got that 127 00:06:01,120 --> 00:06:04,159 Speaker 1: phone and um. Right after I got out of high school, 128 00:06:04,160 --> 00:06:05,760 Speaker 1: I was eighteen years old. I was starting to buy 129 00:06:05,760 --> 00:06:08,160 Speaker 1: and sell homes. I was buying bank owned repos and 130 00:06:08,200 --> 00:06:09,760 Speaker 1: fix them up and selling them. So I was out 131 00:06:09,760 --> 00:06:11,640 Speaker 1: on the road looking at properties. And so you know, 132 00:06:11,680 --> 00:06:14,160 Speaker 1: I got the phone I needed. I'm cool, I'm important, whatever. 133 00:06:14,720 --> 00:06:16,520 Speaker 1: But the funny thing was is that I was like 134 00:06:16,560 --> 00:06:19,200 Speaker 1: the only person I knew with the phone, and so like, 135 00:06:19,360 --> 00:06:21,919 Speaker 1: who was I going to call? And so like, literally 136 00:06:22,040 --> 00:06:23,760 Speaker 1: most of the time, at least when I first had 137 00:06:23,760 --> 00:06:25,200 Speaker 1: the phone, I would just leave it at the house. 138 00:06:25,240 --> 00:06:26,840 Speaker 1: I didn't take it with me anywhere because like, what 139 00:06:26,880 --> 00:06:29,240 Speaker 1: was I gonna do with it? Right? And so it 140 00:06:29,279 --> 00:06:30,800 Speaker 1: wasn't worth a lot because none of my other friends 141 00:06:30,839 --> 00:06:34,039 Speaker 1: had phones. But today I can't go anywhere without the phone. 142 00:06:34,040 --> 00:06:35,320 Speaker 1: Of course, the phone is a lot more. So we 143 00:06:35,320 --> 00:06:36,719 Speaker 1: want to look at the metcalf slow. We want to 144 00:06:36,920 --> 00:06:40,080 Speaker 1: look at the network growth. That is one of the 145 00:06:40,080 --> 00:06:42,680 Speaker 1: most important things. As long as the network continues to grow, 146 00:06:42,720 --> 00:06:44,640 Speaker 1: as long as we see more and more people using it, 147 00:06:44,680 --> 00:06:47,599 Speaker 1: more and more people adopting it, um, then it continues 148 00:06:47,640 --> 00:06:50,320 Speaker 1: to grow. And I am going to share a piece 149 00:06:50,360 --> 00:06:53,440 Speaker 1: of news with you this that happened this week. I 150 00:06:53,480 --> 00:06:55,039 Speaker 1: want to bring it to you this weekend, but it 151 00:06:55,080 --> 00:06:56,640 Speaker 1: was the biggest piece of news this week that I 152 00:06:56,680 --> 00:06:59,520 Speaker 1: think kind of went under the rug. Most people missed it. 153 00:07:00,360 --> 00:07:02,520 Speaker 1: But if you agree with me that network growth is 154 00:07:02,520 --> 00:07:05,320 Speaker 1: one of the most important factors, then wait until you 155 00:07:05,440 --> 00:07:07,720 Speaker 1: hear what I have to say. But before I tell 156 00:07:07,760 --> 00:07:10,600 Speaker 1: you that, um, the second most important thing that you 157 00:07:10,600 --> 00:07:14,240 Speaker 1: want to pay attention to is development on the network. 158 00:07:14,680 --> 00:07:16,760 Speaker 1: You want to make sure that the network is continuing 159 00:07:16,800 --> 00:07:21,400 Speaker 1: to be developed. It's growing, the capabilities, the capacities, etcetera. 160 00:07:21,440 --> 00:07:24,080 Speaker 1: Are growing. So as long as those two things are growing, 161 00:07:24,120 --> 00:07:27,119 Speaker 1: then we know that we're continuing to grow. So people 162 00:07:27,120 --> 00:07:30,240 Speaker 1: that are following the price on a daily basis, they're 163 00:07:30,280 --> 00:07:32,880 Speaker 1: never gonna make it. In bitcoin, we call that d M. 164 00:07:32,920 --> 00:07:35,360 Speaker 1: I never gonna make it now. Like I said, we 165 00:07:35,400 --> 00:07:37,320 Speaker 1: saw a bitcoin break that new all time high back 166 00:07:37,400 --> 00:07:44,480 Speaker 1: on October I guess that was October, and then it plunged. 167 00:07:45,120 --> 00:07:48,400 Speaker 1: Then bitcoin blunded. It fell all the way down. You 168 00:07:48,440 --> 00:07:51,080 Speaker 1: won't believe it, all the way down to fifty eight 169 00:07:51,080 --> 00:07:54,000 Speaker 1: thousand dollars. No, no, no, no, no, no, I mean 170 00:07:54,200 --> 00:07:57,120 Speaker 1: that was a that was about a twelve thirteen thirteen 171 00:07:57,160 --> 00:08:00,240 Speaker 1: and a half percent drop. It went all the way 172 00:08:00,280 --> 00:08:03,760 Speaker 1: back down to the price it was five days earlier. 173 00:08:04,440 --> 00:08:08,560 Speaker 1: But yet didn't didn't stop all the major media outlets 174 00:08:08,600 --> 00:08:13,320 Speaker 1: from declaring Bitcoin dead. This is it, game over, Pack 175 00:08:13,400 --> 00:08:17,160 Speaker 1: it up, boys, cryptocurrency is a failed experiment. We hit 176 00:08:17,240 --> 00:08:20,680 Speaker 1: the new all time high and then we crashed all 177 00:08:20,720 --> 00:08:23,680 Speaker 1: the way back down to where prices were five days earlier. Oh, 178 00:08:23,760 --> 00:08:26,880 Speaker 1: it's horrific, But I'm sure glad I didn't pack up, 179 00:08:26,920 --> 00:08:31,120 Speaker 1: because of course Bitcoin wasn't dead. Cryptocurrencies are not going away. 180 00:08:31,200 --> 00:08:34,120 Speaker 1: Not there's easily not ever in my opinion. And of 181 00:08:34,120 --> 00:08:37,480 Speaker 1: course the price has come roaring back and we are 182 00:08:37,559 --> 00:08:42,360 Speaker 1: sitting at around sixty one and a half or so ish. 183 00:08:42,400 --> 00:08:45,560 Speaker 1: But again, I'm just kind of talking about this because 184 00:08:45,559 --> 00:08:47,839 Speaker 1: I'm trying to help you. We don't want to be 185 00:08:47,880 --> 00:08:50,480 Speaker 1: focused on the price. I'm talking about it, but only 186 00:08:50,480 --> 00:08:52,400 Speaker 1: to tell you that it's not that important. Remember, the 187 00:08:52,400 --> 00:08:55,760 Speaker 1: two most important things are network growth because of Metcalf's law, 188 00:08:55,880 --> 00:08:57,640 Speaker 1: and development on the network. And I want to tell 189 00:08:57,679 --> 00:09:00,480 Speaker 1: you what happened this week, Like I said, that really 190 00:09:00,520 --> 00:09:04,240 Speaker 1: slipped through the rug. That shows you how fast this 191 00:09:04,280 --> 00:09:06,320 Speaker 1: network is about to take off. And I mean, it 192 00:09:06,559 --> 00:09:09,480 Speaker 1: is going to blow up. You need to know this 193 00:09:09,559 --> 00:09:11,319 Speaker 1: and you have a chance to front run this information. 194 00:09:11,400 --> 00:09:13,360 Speaker 1: But I'm gonna bring it right back in a second. 195 00:09:13,400 --> 00:09:16,199 Speaker 1: You're listening to the Mark Mass Show, where I bring 196 00:09:16,200 --> 00:09:19,400 Speaker 1: to you the latest information on bitcoin, cryptocurrencies and the 197 00:09:19,480 --> 00:09:25,400 Speaker 1: decentralized revolution each and every week because with this information 198 00:09:25,559 --> 00:09:27,080 Speaker 1: you were going to be ahead of I don't know 199 00:09:28,320 --> 00:09:31,640 Speaker 1: the people, so you can take advantage of the asymmetric upside. 200 00:09:31,720 --> 00:09:34,360 Speaker 1: I'll be right back, all right, welcome back. You are 201 00:09:34,440 --> 00:09:37,800 Speaker 1: listening to the Mark mo Show, where I come to 202 00:09:37,840 --> 00:09:41,240 Speaker 1: you each and every weekend bringing you the most important 203 00:09:41,280 --> 00:09:46,200 Speaker 1: information on bitcoin and cryptocurrencies and the decentralized revolution. It's 204 00:09:46,240 --> 00:09:49,800 Speaker 1: moving fast. Um now before the break I was talking 205 00:09:49,800 --> 00:09:51,520 Speaker 1: about now we don't need to focus on the price. 206 00:09:51,559 --> 00:09:54,439 Speaker 1: The prices of distraction. The price shows a short term 207 00:09:54,440 --> 00:09:57,400 Speaker 1: It's kind of like, um, well, I grew up racing 208 00:09:57,400 --> 00:10:00,120 Speaker 1: dirt pikes. I still I still ride dirt by I 209 00:10:00,120 --> 00:10:02,560 Speaker 1: don't really race that much anymore. Um And you know, 210 00:10:02,600 --> 00:10:04,880 Speaker 1: I like to do a lot of desert writing. And 211 00:10:04,920 --> 00:10:06,760 Speaker 1: when you're riding a dirt bike, you're going really fast 212 00:10:07,720 --> 00:10:10,400 Speaker 1: and it's dangerous. There's there's rocks, and there's ruts and 213 00:10:10,400 --> 00:10:12,280 Speaker 1: there's bumps, and there's all kinds of stuff going on, 214 00:10:12,320 --> 00:10:14,480 Speaker 1: and you're going fast. Obviously that the faster you go, 215 00:10:14,600 --> 00:10:18,200 Speaker 1: the further out ahead you have to look what happens 216 00:10:18,240 --> 00:10:22,079 Speaker 1: with new um kind of new beginner riders um they 217 00:10:22,160 --> 00:10:24,959 Speaker 1: like to focus right in front of their wheel, like look, 218 00:10:25,040 --> 00:10:26,599 Speaker 1: look straight down at the ground, like I need to 219 00:10:26,640 --> 00:10:29,600 Speaker 1: see every rock that's there. But the problem is when 220 00:10:29,600 --> 00:10:31,360 Speaker 1: you're only looking at the ground, you can't see the 221 00:10:31,360 --> 00:10:33,800 Speaker 1: bigger picture. And so now you're trying to react to 222 00:10:33,800 --> 00:10:35,760 Speaker 1: everything in front of you, but you don't have time 223 00:10:35,800 --> 00:10:38,920 Speaker 1: to plan for the stuff that's coming. And so that's 224 00:10:38,960 --> 00:10:41,400 Speaker 1: the biggest mistake that new writers have is just focusing 225 00:10:41,400 --> 00:10:43,160 Speaker 1: on the ground and not looking further ahead. And that's 226 00:10:43,400 --> 00:10:45,559 Speaker 1: that's what looking at the price the bitcoin and cryptocurrencies 227 00:10:45,559 --> 00:10:47,360 Speaker 1: every day is. You don't want to be staring at 228 00:10:47,400 --> 00:10:49,679 Speaker 1: the ground. You can't do that. You have to be 229 00:10:49,720 --> 00:10:53,040 Speaker 1: looking at the bigger picture. Because the price, as I 230 00:10:53,080 --> 00:10:54,840 Speaker 1: was kind of talking right that, we had a new 231 00:10:54,880 --> 00:10:57,160 Speaker 1: all time high last week and then oh my gosh, 232 00:10:57,200 --> 00:10:59,120 Speaker 1: the price crashed all the way down to where it 233 00:10:59,200 --> 00:11:02,480 Speaker 1: was five days before. Are and mainstream media want to 234 00:11:02,520 --> 00:11:05,120 Speaker 1: declare a bitcoin dead again. And if you were just 235 00:11:05,200 --> 00:11:07,240 Speaker 1: focused on the ground, if you were just focused on 236 00:11:07,280 --> 00:11:09,280 Speaker 1: that price, you would have sold. But we don't do 237 00:11:09,320 --> 00:11:11,800 Speaker 1: that right. Not if you're listening to me like a 238 00:11:11,800 --> 00:11:15,679 Speaker 1: professional motocross racer desert racer, you're looking way out ahead, right. 239 00:11:15,720 --> 00:11:17,760 Speaker 1: We want to plan for what's coming, not for what's 240 00:11:17,760 --> 00:11:20,679 Speaker 1: happening right this second. And so we're doing that by 241 00:11:20,679 --> 00:11:23,120 Speaker 1: two things, network growth. I talked about mccafs law and 242 00:11:23,160 --> 00:11:25,280 Speaker 1: then we talked about development. Today I want to bring 243 00:11:25,280 --> 00:11:26,800 Speaker 1: to you one of the biggest stories of this week 244 00:11:26,840 --> 00:11:30,120 Speaker 1: that really talks about that network growth and it really 245 00:11:30,360 --> 00:11:34,360 Speaker 1: UM started back in May of this year. So in 246 00:11:34,480 --> 00:11:37,560 Speaker 1: May of this year, UM, a big are a big 247 00:11:37,640 --> 00:11:39,760 Speaker 1: article well broke all over all the new sources and 248 00:11:39,760 --> 00:11:41,439 Speaker 1: it may have this year a big news broke out 249 00:11:41,480 --> 00:11:43,920 Speaker 1: that a company called night Digg n y d i 250 00:11:44,000 --> 00:11:48,120 Speaker 1: G Nightigg was there. They're a back office service provider 251 00:11:48,160 --> 00:11:50,560 Speaker 1: for all the banks in the United States. UM, and 252 00:11:50,640 --> 00:11:52,840 Speaker 1: so as you might imagine, you know, banks don't do 253 00:11:52,960 --> 00:11:54,800 Speaker 1: everything in house, right, so they kind of outsource. At 254 00:11:54,880 --> 00:11:56,720 Speaker 1: night I provided that back office service. And so they 255 00:11:56,760 --> 00:12:00,079 Speaker 1: said back in May May five of this year, that 256 00:12:00,320 --> 00:12:04,200 Speaker 1: night Egg was going to um provide banks with the 257 00:12:04,240 --> 00:12:10,439 Speaker 1: capability to allow their customers to buy, sell, and store 258 00:12:10,600 --> 00:12:16,400 Speaker 1: bitcoin directly in their bank checking accounts. What are you 259 00:12:16,480 --> 00:12:19,199 Speaker 1: kidding me? Yes, they said they would do that back 260 00:12:19,240 --> 00:12:22,199 Speaker 1: in May of this year. They said that banks. Let 261 00:12:22,200 --> 00:12:25,480 Speaker 1: me say this, banks are asking for bitcoin because they 262 00:12:25,520 --> 00:12:28,959 Speaker 1: can see their customers are sending dollars to coin base 263 00:12:29,360 --> 00:12:32,960 Speaker 1: and other crypto exchanges. So the thing with banking is, 264 00:12:33,360 --> 00:12:35,160 Speaker 1: and in any business for that matter, So what a 265 00:12:35,200 --> 00:12:37,080 Speaker 1: business wants to do is a business wants to create 266 00:12:37,120 --> 00:12:40,120 Speaker 1: something that's called sticky. In business as entrepreneurship, we'd call 267 00:12:40,120 --> 00:12:41,920 Speaker 1: that sticky, right. We want to make it where a 268 00:12:42,000 --> 00:12:45,600 Speaker 1: customer comes onto our platform, it's very difficult for them 269 00:12:45,640 --> 00:12:48,360 Speaker 1: to get off, right, it's sticky. And that's what banking is. 270 00:12:48,400 --> 00:12:51,360 Speaker 1: So like, the very first checking account I ever got 271 00:12:51,360 --> 00:12:54,120 Speaker 1: was with Wells Fargo, and I've been with Wells Fargo 272 00:12:54,280 --> 00:12:57,400 Speaker 1: ever since a long time. Now, Wells Fargo hasn't done 273 00:12:57,400 --> 00:12:59,079 Speaker 1: anything to earn my trust. As a matter of fact, 274 00:12:59,559 --> 00:13:03,719 Speaker 1: they've they've paid out the largest lawsuits in history for 275 00:13:03,720 --> 00:13:06,720 Speaker 1: for fraudulently putting accounts on to people things like that. 276 00:13:06,840 --> 00:13:09,520 Speaker 1: But yet I haven't gone anywhere because it's sticky. It's 277 00:13:09,559 --> 00:13:12,680 Speaker 1: hard for me to close my accounts and open new accounts. 278 00:13:12,679 --> 00:13:14,880 Speaker 1: All that some stuck there, right, But what what banks 279 00:13:14,880 --> 00:13:17,800 Speaker 1: are seeing is that customers are pulling their money out 280 00:13:18,040 --> 00:13:20,199 Speaker 1: and they're going to coin base and Cracking and Gemini 281 00:13:20,240 --> 00:13:22,679 Speaker 1: and et cetera. So the banks aren't happy about that, 282 00:13:22,800 --> 00:13:26,040 Speaker 1: right because they know that once those customers leave, they 283 00:13:26,080 --> 00:13:29,079 Speaker 1: may not be coming back because it's sticky. So the 284 00:13:29,120 --> 00:13:31,520 Speaker 1: banks are like, shoot, we better do something here, So 285 00:13:31,600 --> 00:13:34,480 Speaker 1: we'll partner up with nightigg um and then we'll allow 286 00:13:34,480 --> 00:13:37,360 Speaker 1: people to buy it directly in their accounts um. Nightig 287 00:13:37,440 --> 00:13:40,800 Speaker 1: said that after they rolled out the initial bitcoin product 288 00:13:41,360 --> 00:13:44,560 Speaker 1: that Nightig would then offer other services through the banks, 289 00:13:44,559 --> 00:13:48,840 Speaker 1: including both debit card rewards points paid in bitcoin, and 290 00:13:49,040 --> 00:13:51,960 Speaker 1: a new type of bank account wait for it, wait 291 00:13:52,040 --> 00:13:58,439 Speaker 1: for it, that's f d I c ensured and pays 292 00:13:58,480 --> 00:14:02,079 Speaker 1: interest in bitcoin. You gotta be kidding me, Well, this 293 00:14:02,160 --> 00:14:05,000 Speaker 1: is back in May of this year, they said that 294 00:14:05,040 --> 00:14:08,439 Speaker 1: they were going to roll those services out two over 295 00:14:09,360 --> 00:14:12,000 Speaker 1: three hundred banks. Then it went up to six hundred banks, 296 00:14:12,000 --> 00:14:15,000 Speaker 1: which maybe doesn't sound like a lot. Hundreds of banks. 297 00:14:15,000 --> 00:14:17,760 Speaker 1: Three to six hundred banks, three hundred banks maybe it's 298 00:14:17,800 --> 00:14:20,720 Speaker 1: not that lot, not that much, but those three hundred 299 00:14:20,720 --> 00:14:26,240 Speaker 1: banks make up over three hundred million checking accounts. Yeah, 300 00:14:26,760 --> 00:14:28,560 Speaker 1: it's not, it's not. You didn't hear me wrong. That's 301 00:14:28,560 --> 00:14:30,480 Speaker 1: three in a million checking account So that's they said 302 00:14:30,520 --> 00:14:32,120 Speaker 1: they would do this, and they said they would do 303 00:14:32,200 --> 00:14:35,400 Speaker 1: this by this year, two thousand twenty one. Now, when 304 00:14:35,400 --> 00:14:38,280 Speaker 1: they came out with that in May, obviously I was excited. 305 00:14:38,360 --> 00:14:41,040 Speaker 1: I rolled that information out to my audience. If you 306 00:14:41,040 --> 00:14:43,200 Speaker 1: would have been listening to me back then, you would 307 00:14:43,200 --> 00:14:46,240 Speaker 1: have made a lot more money because in May when 308 00:14:46,240 --> 00:14:49,680 Speaker 1: that news broke, the price of bitcoin was about thirty 309 00:14:49,880 --> 00:14:51,960 Speaker 1: thirty three thousand dollars, So you could have doubled your 310 00:14:51,960 --> 00:14:53,600 Speaker 1: money if you would have bought in then, right, we 311 00:14:53,640 --> 00:14:54,840 Speaker 1: want to What we want to do is we want 312 00:14:54,880 --> 00:14:58,120 Speaker 1: to front run this information because again, asymmetric information, information 313 00:14:58,160 --> 00:15:00,840 Speaker 1: most people don't have, allows us to get in before 314 00:15:00,920 --> 00:15:03,040 Speaker 1: most other people. We can front run it, right, we 315 00:15:03,040 --> 00:15:05,440 Speaker 1: get in front. So when that knows news broke back 316 00:15:05,440 --> 00:15:07,000 Speaker 1: in May, you could have got in about thirty thousand, 317 00:15:07,080 --> 00:15:09,400 Speaker 1: would double your money. Um. But here we are. Um, 318 00:15:09,440 --> 00:15:10,760 Speaker 1: they said they do this by the end of the year. 319 00:15:10,840 --> 00:15:13,120 Speaker 1: And now people that I talked to on the inside 320 00:15:13,120 --> 00:15:15,720 Speaker 1: of the industry. They told me, Shoot, I don't think 321 00:15:15,720 --> 00:15:18,160 Speaker 1: that's gonna happen. Have you ever seen how slow banks work. 322 00:15:18,720 --> 00:15:21,480 Speaker 1: Banks can't even upgrade their own internal software, Like you 323 00:15:21,520 --> 00:15:24,880 Speaker 1: really think they're gonna get that done in time? Um, well, 324 00:15:24,960 --> 00:15:27,680 Speaker 1: let's wait and see, right, Um, But the banks really 325 00:15:27,720 --> 00:15:29,200 Speaker 1: wanted that. They know that if they don't do it, 326 00:15:29,200 --> 00:15:31,320 Speaker 1: they're gonna lose out their customers, and so they're pressured 327 00:15:31,360 --> 00:15:33,920 Speaker 1: to do that. Um. Now, some of the big banks 328 00:15:33,960 --> 00:15:38,520 Speaker 1: like Morgan's or more I should say financial institutions like Morgan, Stanley, 329 00:15:38,840 --> 00:15:42,120 Speaker 1: Goldman Sacks, they're already in bitcoin right, already offering those 330 00:15:42,120 --> 00:15:44,680 Speaker 1: services JP Morgan right there on. They're getting on board. 331 00:15:45,000 --> 00:15:47,840 Speaker 1: But the banks wanted to be able to allow their 332 00:15:47,880 --> 00:15:51,840 Speaker 1: customers to literally buy bitcoin through their checking account with 333 00:15:51,880 --> 00:15:54,960 Speaker 1: as little as one single dollar. And that's a big 334 00:15:54,960 --> 00:15:57,120 Speaker 1: misconception that people have. They think that, oh, shoot, bitcoin 335 00:15:57,200 --> 00:16:00,040 Speaker 1: sixty one dollars. I don't have sixty one dollars. I 336 00:16:00,040 --> 00:16:05,360 Speaker 1: can't buy that, so I'll just go buy she booo. Right, 337 00:16:05,400 --> 00:16:08,480 Speaker 1: that's cheap. I'll buy that instead, which we can talk 338 00:16:08,480 --> 00:16:10,920 Speaker 1: about that later. But um, the fact is is that 339 00:16:11,040 --> 00:16:15,240 Speaker 1: you can buy a dollars worth of bitcoin and now 340 00:16:15,400 --> 00:16:17,800 Speaker 1: you might be able to do that directly from your 341 00:16:17,800 --> 00:16:22,280 Speaker 1: banking account. So that happened back in May five, right, Well, 342 00:16:22,320 --> 00:16:25,040 Speaker 1: the year goes on, you know, May, June, July, August, 343 00:16:25,120 --> 00:16:28,120 Speaker 1: nothing's happening. People are like, oh my gosh, what happened 344 00:16:28,120 --> 00:16:29,440 Speaker 1: with that information? I thought it was gonna be big 345 00:16:29,400 --> 00:16:34,240 Speaker 1: as massive? Well remember patients, right, patients, UM, I like 346 00:16:34,320 --> 00:16:35,800 Speaker 1: to say, over and over and over, and if you're 347 00:16:35,800 --> 00:16:37,200 Speaker 1: listening to my show each and every week, which I 348 00:16:37,240 --> 00:16:38,640 Speaker 1: hope you do, which, by the way, you're listening to 349 00:16:38,680 --> 00:16:42,600 Speaker 1: the Mark mass Show, I like to repeat one of again, 350 00:16:42,760 --> 00:16:45,760 Speaker 1: Warm Bufett. Actually it's his partner, Charlie Munger. He says 351 00:16:45,800 --> 00:16:49,320 Speaker 1: that the big money is not made in the buying, 352 00:16:49,360 --> 00:16:53,480 Speaker 1: in the selling. The big money is made in the waiting, 353 00:16:54,240 --> 00:16:56,000 Speaker 1: the waiting. Not the buying selling, but the waiting. That 354 00:16:56,040 --> 00:16:58,640 Speaker 1: goes back to what I said before the break said, 355 00:16:58,760 --> 00:17:00,600 Speaker 1: if you only had twenty moves your whole career, you 356 00:17:00,640 --> 00:17:03,720 Speaker 1: do much better. So the waiting and so, uh, you know, 357 00:17:03,760 --> 00:17:05,479 Speaker 1: you got the news, hopefully made a move on it, 358 00:17:05,600 --> 00:17:09,040 Speaker 1: and then you have to wait. And so then moving forward, 359 00:17:09,119 --> 00:17:12,720 Speaker 1: we saw October five, a couple of weeks ago, some 360 00:17:12,800 --> 00:17:17,400 Speaker 1: big news came out. US Bank, the fifth largest retail 361 00:17:17,440 --> 00:17:21,400 Speaker 1: bank in the United States, announced on October five that 362 00:17:21,480 --> 00:17:26,040 Speaker 1: they are going to offer bitcoin buying, selling, and custody 363 00:17:26,080 --> 00:17:29,520 Speaker 1: services in their bank, the fifth largest banking United States. October. 364 00:17:30,040 --> 00:17:32,360 Speaker 1: So you see the news is now starting to come out. 365 00:17:33,040 --> 00:17:35,359 Speaker 1: Let's let's talk about some of the big misconceptions that 366 00:17:35,440 --> 00:17:39,360 Speaker 1: people have and how news like this could overcome that. 367 00:17:39,560 --> 00:17:42,280 Speaker 1: But there's one more piece of information that just came 368 00:17:42,320 --> 00:17:46,680 Speaker 1: out this week that blows this wide open. And I 369 00:17:46,720 --> 00:17:49,720 Speaker 1: want to talk to you about something called diffusion of innovation. 370 00:17:49,720 --> 00:17:53,240 Speaker 1: Innovation diffusion. That's how innovation gets out there. And once 371 00:17:53,280 --> 00:17:55,120 Speaker 1: you understand this and put it together with the news 372 00:17:55,160 --> 00:17:58,240 Speaker 1: that just came out, you're gonna want to go buy 373 00:17:58,240 --> 00:18:01,359 Speaker 1: some cryptocurrency. Right this is very second, So I'm gonna 374 00:18:01,359 --> 00:18:03,119 Speaker 1: bring that to you when I come back. You're listening 375 00:18:03,119 --> 00:18:05,960 Speaker 1: to the Mark mass Show talking about bitcoin, cryptocurrencies and 376 00:18:05,960 --> 00:18:09,240 Speaker 1: the decentralized Revolution. I'll be right back, all right, welcome back. 377 00:18:09,320 --> 00:18:12,159 Speaker 1: You are joining me at the Mark Moa Show. We're 378 00:18:12,160 --> 00:18:15,639 Speaker 1: talking about bitcoin and cryptocurrencies and the decentralized revolution. If 379 00:18:15,680 --> 00:18:18,400 Speaker 1: you're just tuning in, well I'm sorry. You've missed a lot. 380 00:18:18,880 --> 00:18:21,160 Speaker 1: We have gone over so much. We've been talking about bitcoin, 381 00:18:21,200 --> 00:18:23,679 Speaker 1: cryptocurrency is making new all time eyes and then then 382 00:18:23,760 --> 00:18:26,000 Speaker 1: crashing all the way down to where they were, you know, 383 00:18:26,720 --> 00:18:29,160 Speaker 1: a few days before. UM. But we talked about how 384 00:18:29,359 --> 00:18:31,200 Speaker 1: looking at the price is a big distraction and really 385 00:18:31,240 --> 00:18:33,280 Speaker 1: what we should be looking at two things network growth 386 00:18:33,359 --> 00:18:36,840 Speaker 1: and development. And I'm taking everybody through some of the 387 00:18:36,840 --> 00:18:39,199 Speaker 1: biggest news that just came out that has literally slipped 388 00:18:39,240 --> 00:18:41,119 Speaker 1: under the rug that most people are missing. And and 389 00:18:41,359 --> 00:18:44,399 Speaker 1: and in my position as an as a career I've 390 00:18:44,400 --> 00:18:49,800 Speaker 1: been a lifelong career investor. You're looking for fundamental news, 391 00:18:49,840 --> 00:18:53,479 Speaker 1: fundamental information that will move the market. UM. And so 392 00:18:53,520 --> 00:18:55,720 Speaker 1: when you're looking at the price and don't tell you nothing, 393 00:18:55,960 --> 00:18:59,320 Speaker 1: I'll tell you what happened. That was a lagging indicator. 394 00:18:59,359 --> 00:19:01,560 Speaker 1: That means you it's lagging. It tells you what happened. 395 00:19:01,560 --> 00:19:04,359 Speaker 1: We're looking for leading leading in kators tells us what 396 00:19:04,520 --> 00:19:07,760 Speaker 1: will happen. That's what we want, right, So UM, I 397 00:19:07,800 --> 00:19:12,399 Speaker 1: went back I started talking about Back in May, um Nighting, 398 00:19:12,600 --> 00:19:14,199 Speaker 1: a company called Nighting, announced that they were going to 399 00:19:14,240 --> 00:19:17,000 Speaker 1: allow banks three three hundred, three hundred banks that service 400 00:19:17,040 --> 00:19:20,080 Speaker 1: about three million checking accounts UM allowing those three million 401 00:19:20,160 --> 00:19:23,520 Speaker 1: checking accounts to buy, sell store bitcoin as as much 402 00:19:23,520 --> 00:19:25,360 Speaker 1: as a dollar is worth a bitcoin directly in their 403 00:19:25,400 --> 00:19:28,120 Speaker 1: checking account UM and then we want to that's that's 404 00:19:28,240 --> 00:19:31,440 Speaker 1: really big news because imagine if there's three hundred million 405 00:19:31,480 --> 00:19:33,080 Speaker 1: people that can just buy it with a click of 406 00:19:33,119 --> 00:19:35,399 Speaker 1: a button. So, shoot, if that's going to happen, I 407 00:19:35,400 --> 00:19:39,240 Speaker 1: should probably buy now before those three million people buy. 408 00:19:39,359 --> 00:19:41,320 Speaker 1: That would be like a logical thing that you would think, 409 00:19:41,760 --> 00:19:43,600 Speaker 1: which if you would have bought off of that news 410 00:19:43,680 --> 00:19:45,520 Speaker 1: back in May, you would have been buying back around 411 00:19:45,600 --> 00:19:47,600 Speaker 1: thirty thou dollars and you would have doubled your money. 412 00:19:47,600 --> 00:19:51,200 Speaker 1: A hundred percent increase in money just because you moved 413 00:19:51,200 --> 00:19:53,639 Speaker 1: on that news would have been great. But right now 414 00:19:53,720 --> 00:19:55,320 Speaker 1: I'm trying to give you some updates on that. So 415 00:19:55,600 --> 00:19:58,680 Speaker 1: moving forward, we saw October five, a couple of months later, 416 00:19:59,040 --> 00:20:01,440 Speaker 1: um US Bank, just the fifth largest retail bank in 417 00:20:01,480 --> 00:20:04,480 Speaker 1: the nation, announced that they are launching it. Finally it's coming, 418 00:20:04,840 --> 00:20:07,480 Speaker 1: we heard about it and it's actually here. Um That 419 00:20:07,600 --> 00:20:10,040 Speaker 1: was really big news. And so October five, u S Bank, 420 00:20:10,160 --> 00:20:12,360 Speaker 1: this largist announced that they were going to bring these 421 00:20:12,359 --> 00:20:18,280 Speaker 1: bitcoin services bitcoin, bitcoin cash and lightcoin. Um, that's the 422 00:20:18,280 --> 00:20:20,399 Speaker 1: three assets that they would have, and they said they 423 00:20:20,480 --> 00:20:25,000 Speaker 1: might support other assets later over time. So that's good 424 00:20:25,040 --> 00:20:27,280 Speaker 1: a couple of weeks ago. But then this week, remember 425 00:20:27,320 --> 00:20:29,760 Speaker 1: I'm bringing you the latest information. So what happened this 426 00:20:29,880 --> 00:20:32,120 Speaker 1: week and that's what we need to talk about. So 427 00:20:32,280 --> 00:20:36,639 Speaker 1: this week we saw the f d i C. For 428 00:20:36,680 --> 00:20:39,320 Speaker 1: those of you that don't know what that is, I 429 00:20:39,320 --> 00:20:41,919 Speaker 1: don't know where you've been. It's the Federal Deposit Insurance 430 00:20:41,960 --> 00:20:45,880 Speaker 1: Corporation f d a C. And they basically ensure you're 431 00:20:45,960 --> 00:20:48,520 Speaker 1: checking accounts. So the money they have in the bank. 432 00:20:48,880 --> 00:20:50,960 Speaker 1: Hopefully you have money in the bank. Everybody should save 433 00:20:51,000 --> 00:20:53,320 Speaker 1: some money, don't you save some money? But um, the 434 00:20:53,320 --> 00:20:56,000 Speaker 1: money you have in the bank is the FDNC insurance. 435 00:20:56,000 --> 00:20:57,280 Speaker 1: So that means if the bank order go out of 436 00:20:57,280 --> 00:21:00,160 Speaker 1: business or get hacked or something that happened, that he's 437 00:21:00,160 --> 00:21:02,440 Speaker 1: insured and you would get reimbursed, right, And that's what 438 00:21:02,520 --> 00:21:04,800 Speaker 1: insurance does. And so a lot of people are afraid, 439 00:21:04,840 --> 00:21:08,199 Speaker 1: they're skeptical, they're worried about bitcoin or cryptocurrencies because you 440 00:21:08,240 --> 00:21:10,080 Speaker 1: know what happens if it's on exchange, it gets hacked, 441 00:21:10,080 --> 00:21:12,600 Speaker 1: it gets stolen exchange without a business, which is all 442 00:21:12,600 --> 00:21:14,959 Speaker 1: those things have happened. Um, and if it happens, it's 443 00:21:15,000 --> 00:21:18,680 Speaker 1: not insured. Oh my gosh, Well lots of things aren't insured. 444 00:21:18,720 --> 00:21:22,920 Speaker 1: Lots of your assets aren't insured. Viously, aren't insured, etcetera. Um, 445 00:21:22,920 --> 00:21:24,680 Speaker 1: but anyway, everybody thinks we need to have this fd 446 00:21:24,680 --> 00:21:27,280 Speaker 1: a C insurance. So this week, as a matter of fact, 447 00:21:27,359 --> 00:21:32,119 Speaker 1: it was October, just a couple of days ago, we 448 00:21:32,240 --> 00:21:34,920 Speaker 1: got time. Nobody knows this yet, you know. The f 449 00:21:35,040 --> 00:21:39,520 Speaker 1: d i C chairman um explained that they are exploring 450 00:21:39,600 --> 00:21:43,840 Speaker 1: how banks could now hold crypto assets f d C insured. 451 00:21:44,520 --> 00:21:47,960 Speaker 1: What now, that is big news. That is really big news, 452 00:21:48,400 --> 00:21:52,080 Speaker 1: um per routers. It says that top US bank regulator 453 00:21:52,080 --> 00:21:54,920 Speaker 1: said US officials are looking to provide a clear path 454 00:21:55,040 --> 00:22:00,639 Speaker 1: for banks and their clients looking to hold cryptocurrencies. The 455 00:22:00,720 --> 00:22:03,879 Speaker 1: f d i C Federal Deposit Insurance Corporation told Reuters 456 00:22:04,160 --> 00:22:06,879 Speaker 1: in an interview on Monday that a team of U 457 00:22:06,960 --> 00:22:09,560 Speaker 1: S bank regulators is trying to provide a roadmap for 458 00:22:09,600 --> 00:22:14,760 Speaker 1: banks to engage with crypto assets. Um, and that's big news, 459 00:22:14,840 --> 00:22:18,280 Speaker 1: they said. Quote, if we don't bring this activity inside 460 00:22:18,280 --> 00:22:20,879 Speaker 1: the banks, is going to develop outside of the banks 461 00:22:21,520 --> 00:22:24,679 Speaker 1: and the federal regulators won't be able to regulate it. 462 00:22:25,840 --> 00:22:28,280 Speaker 1: So if they don't provide what the market wants, the 463 00:22:28,320 --> 00:22:30,960 Speaker 1: market's gonna go get it somewhere else. That's basically what 464 00:22:31,000 --> 00:22:32,840 Speaker 1: they said. They said that they wanted to say that 465 00:22:32,920 --> 00:22:34,919 Speaker 1: some banks have already been dabling in these areas without 466 00:22:34,920 --> 00:22:38,200 Speaker 1: regulatory clarity, and so we need to give that to them. 467 00:22:38,240 --> 00:22:40,359 Speaker 1: So let me let me let me tell you how 468 00:22:40,440 --> 00:22:42,560 Speaker 1: big this is if you're not quite figuring this out. 469 00:22:42,920 --> 00:22:49,200 Speaker 1: So there's a lot of objections that people have to 470 00:22:49,280 --> 00:22:54,720 Speaker 1: bitcoin and cryptocurrencies, right the big ones are, the government's 471 00:22:54,720 --> 00:22:59,520 Speaker 1: going to make it illegal, okay, um or um it's 472 00:22:59,560 --> 00:23:04,120 Speaker 1: a fat it's a scam, it's a ponzi. Or um 473 00:23:04,160 --> 00:23:06,800 Speaker 1: it's too difficult, I don't know how to do it, 474 00:23:07,880 --> 00:23:10,679 Speaker 1: or um, I don't trust hooking up you know, an 475 00:23:10,680 --> 00:23:14,000 Speaker 1: account like coin based to my bank account. They could 476 00:23:14,000 --> 00:23:15,840 Speaker 1: hack it or something like that. So those are all 477 00:23:16,040 --> 00:23:19,600 Speaker 1: concerns that people have. Now part of the reason why 478 00:23:19,640 --> 00:23:22,800 Speaker 1: they have those concerns is because of something known as 479 00:23:23,359 --> 00:23:28,800 Speaker 1: the innovators diffusion, innovator's confusion, or it's actually probably called 480 00:23:28,880 --> 00:23:32,359 Speaker 1: diffusion of innovation and so um, that's something that you 481 00:23:32,480 --> 00:23:34,199 Speaker 1: might want to look go on Google and you can 482 00:23:34,240 --> 00:23:38,159 Speaker 1: google that innovator innovator's diffusion or diffusion of innovation. And 483 00:23:38,160 --> 00:23:40,479 Speaker 1: so what what this basically is is it shows when 484 00:23:40,520 --> 00:23:44,440 Speaker 1: there's a new innovation, new technology, UM, how the very 485 00:23:44,520 --> 00:23:50,240 Speaker 1: predictable path to UM diffusion or two adoption goes. And 486 00:23:50,280 --> 00:23:52,400 Speaker 1: so what happens is just to kind of give you 487 00:23:52,840 --> 00:23:55,959 Speaker 1: an overview, is that what happens is in the beginning, 488 00:23:56,000 --> 00:23:57,959 Speaker 1: you have this brand new technology which is brought by 489 00:23:57,960 --> 00:24:01,280 Speaker 1: the inventors. Of course, right those are the innovator and typically, 490 00:24:01,440 --> 00:24:03,040 Speaker 1: you know, you'll see more and more innovators kind of 491 00:24:03,040 --> 00:24:04,480 Speaker 1: start playing around this and you get to about two 492 00:24:04,480 --> 00:24:07,879 Speaker 1: and a half percent adoption. UM, you get to you 493 00:24:07,920 --> 00:24:11,960 Speaker 1: get to about um adoption, and then you start getting 494 00:24:12,000 --> 00:24:14,879 Speaker 1: some visionaries. And the visionaries are ones that see what 495 00:24:14,960 --> 00:24:16,800 Speaker 1: the inventors are doing, the innovators are doing, and they 496 00:24:16,840 --> 00:24:20,159 Speaker 1: believe in it. They believe that technology could be something 497 00:24:20,200 --> 00:24:23,520 Speaker 1: in the future. But they're the visionaries. Right, UM, when 498 00:24:23,520 --> 00:24:26,160 Speaker 1: I was, you know, I started my career, I think 499 00:24:26,200 --> 00:24:29,520 Speaker 1: I've told you probably many times before, I'm buying buying 500 00:24:29,640 --> 00:24:33,479 Speaker 1: bank owned repos that were thrashed and the banks couldn't 501 00:24:33,480 --> 00:24:35,200 Speaker 1: sell these tw people because they didn't have floors or 502 00:24:35,280 --> 00:24:37,480 Speaker 1: kitchens and the stuff like that. No one get alone. 503 00:24:37,560 --> 00:24:39,080 Speaker 1: So they need someone like me, an investor, to come 504 00:24:39,080 --> 00:24:40,800 Speaker 1: in and buy the house, fix it up, put the kitchen, 505 00:24:40,840 --> 00:24:42,520 Speaker 1: the floors in and then they could sell them. Right, 506 00:24:42,520 --> 00:24:45,480 Speaker 1: they get alone. But you come in and see these 507 00:24:45,480 --> 00:24:47,760 Speaker 1: homes and you're like, what the heck is this? It's 508 00:24:47,760 --> 00:24:49,960 Speaker 1: a disaster. Right, So you had to be an innovator. 509 00:24:49,960 --> 00:24:51,000 Speaker 1: You had to have this, or you had to be 510 00:24:51,000 --> 00:24:52,359 Speaker 1: a visionary. You had to have this vision of what 511 00:24:52,400 --> 00:24:54,119 Speaker 1: it could be one day. If you guys have watched 512 00:24:54,119 --> 00:24:56,760 Speaker 1: like home flipping shows on TV, which come on, admit it, 513 00:24:56,960 --> 00:25:00,520 Speaker 1: you have everybody has um right, and the these people 514 00:25:00,520 --> 00:25:02,600 Speaker 1: walk in these houses and they're trashed, right, they've been 515 00:25:02,600 --> 00:25:04,800 Speaker 1: burned down or whatever. Um And so you have to 516 00:25:04,840 --> 00:25:06,480 Speaker 1: have this vision and a lot of people just don't 517 00:25:06,480 --> 00:25:08,840 Speaker 1: have that. They just they can't imagine how good it 518 00:25:08,880 --> 00:25:11,040 Speaker 1: could look in the future, which is why those people 519 00:25:11,080 --> 00:25:13,840 Speaker 1: miss out on opportunities. Right. So you have the visionaries 520 00:25:13,880 --> 00:25:15,960 Speaker 1: come in and they believe in the innovators, and you 521 00:25:16,000 --> 00:25:19,400 Speaker 1: get up to about an eighteen percent or so um 522 00:25:19,640 --> 00:25:23,520 Speaker 1: percentage of adoption, and then there's something known as the 523 00:25:23,640 --> 00:25:28,480 Speaker 1: chasm and the chasm is a gap between the visionaries 524 00:25:28,520 --> 00:25:31,320 Speaker 1: and the early adopters. And the reason why there's a 525 00:25:31,359 --> 00:25:33,720 Speaker 1: gap there is because of all the reasons I just said, 526 00:25:33,920 --> 00:25:36,760 Speaker 1: there's a mental break, there's a there's a there's a 527 00:25:36,880 --> 00:25:41,040 Speaker 1: perception that's missing. People think it's gonna be made illegal, 528 00:25:41,640 --> 00:25:45,000 Speaker 1: it's too hard to buy, it's too risky, it's not insured, 529 00:25:45,440 --> 00:25:47,960 Speaker 1: and on and on and on. Right, that's the chasm. 530 00:25:48,000 --> 00:25:53,800 Speaker 1: But once you cross that chasm, then an adoption explodes. 531 00:25:54,119 --> 00:25:57,359 Speaker 1: All right, And what I'm telling you right now is 532 00:25:57,400 --> 00:25:59,920 Speaker 1: the news that just broke that you're hearing it right now. 533 00:26:01,720 --> 00:26:04,120 Speaker 1: The banks now are going to allow you to buy 534 00:26:04,480 --> 00:26:07,840 Speaker 1: bitcoin a dollar's worth right in your bank account, store 535 00:26:07,880 --> 00:26:12,000 Speaker 1: it safely, and even have the f D i C 536 00:26:12,520 --> 00:26:15,760 Speaker 1: insurance on it. So let me ask you just a 537 00:26:15,800 --> 00:26:19,520 Speaker 1: simple question. Do you think if you logged into your bank, 538 00:26:19,640 --> 00:26:21,919 Speaker 1: you know, wells Fargo, Bank America, JP, Morgan, whatever it is, 539 00:26:22,880 --> 00:26:24,480 Speaker 1: and you were using your app or whatever, and you 540 00:26:24,600 --> 00:26:26,840 Speaker 1: logged in and right there was a button that said 541 00:26:28,240 --> 00:26:30,879 Speaker 1: by bitcoin, Oh and it's f D i C insured, 542 00:26:31,240 --> 00:26:34,000 Speaker 1: do you think there would be more people that would 543 00:26:34,000 --> 00:26:38,320 Speaker 1: own bitcoin or would there be less? M hmm, Well, 544 00:26:39,440 --> 00:26:41,600 Speaker 1: if you guess more then I think you would be right. 545 00:26:41,640 --> 00:26:44,840 Speaker 1: Of course there'd be more. And if more people bought it, 546 00:26:45,160 --> 00:26:47,359 Speaker 1: do you think the price would go up or would 547 00:26:47,359 --> 00:26:50,080 Speaker 1: the price go down? Of course if more people out, 548 00:26:50,080 --> 00:26:51,840 Speaker 1: the price would go up. So what do you think 549 00:26:51,880 --> 00:26:54,840 Speaker 1: happens when this is open and available to three million 550 00:26:54,920 --> 00:26:57,800 Speaker 1: checking accounts. I'm not going to tell you. I'll leave 551 00:26:57,840 --> 00:27:02,000 Speaker 1: that rest up to your your own imagination, the visionary 552 00:27:02,040 --> 00:27:04,800 Speaker 1: information imagination. Hopefully you have that. But that's big news 553 00:27:04,840 --> 00:27:07,320 Speaker 1: in my opinion. Once people see that, it's going to 554 00:27:07,400 --> 00:27:10,119 Speaker 1: change the perception. People realize it's not going to be banned, 555 00:27:10,320 --> 00:27:12,199 Speaker 1: not not anymore. The e t F got approved, it's 556 00:27:12,240 --> 00:27:17,359 Speaker 1: not gonna be banned. Um, it's easy and it's now safe. Now. 557 00:27:17,440 --> 00:27:20,000 Speaker 1: Once it's easy and safe, you lose out on all 558 00:27:20,080 --> 00:27:23,159 Speaker 1: that possibility, on all that upside. So you want to 559 00:27:23,160 --> 00:27:26,359 Speaker 1: get in right now? All right now, I'm gonna come 560 00:27:26,359 --> 00:27:28,280 Speaker 1: back and tell you the rest of this story because 561 00:27:28,320 --> 00:27:31,040 Speaker 1: there's more. Um, you're listening to the Mark Mass Show. 562 00:27:31,720 --> 00:27:35,560 Speaker 1: I'm talking about bitcoin, cryptocurrencies and this decentralized revolution. I 563 00:27:35,600 --> 00:27:38,280 Speaker 1: want to tell you what is happening in the bank 564 00:27:38,320 --> 00:27:40,960 Speaker 1: since this news came out. I'm gonna be right back 565 00:27:41,040 --> 00:27:43,480 Speaker 1: with more. Don't go away, all right, welcome back. You 566 00:27:43,520 --> 00:27:45,960 Speaker 1: are listening to the Mark Ma Show or I bring 567 00:27:46,000 --> 00:27:50,400 Speaker 1: to you the latest information on the biggest opportunity you're 568 00:27:50,400 --> 00:27:51,800 Speaker 1: ever going to have in your lifetime, and not just 569 00:27:51,840 --> 00:27:54,600 Speaker 1: your lifetime. I'm talking about your parents lifetime, your kid's lifetime. 570 00:27:54,600 --> 00:27:57,480 Speaker 1: I'm talking about generations. I'm talking about bitcoin, I'm talking 571 00:27:57,480 --> 00:28:00,960 Speaker 1: about cryptocurrencies. I'm talking about the decentralized revolution that is 572 00:28:01,040 --> 00:28:04,760 Speaker 1: happening right now and the way that you take advantage 573 00:28:04,800 --> 00:28:06,719 Speaker 1: of the big opportunity to have the information that most 574 00:28:06,760 --> 00:28:09,560 Speaker 1: people don't have. I don't know yet and that's why 575 00:28:09,600 --> 00:28:12,199 Speaker 1: I'm bringing it to you now. Uh, if you just 576 00:28:12,280 --> 00:28:14,760 Speaker 1: join an in, you missed out on a lot, so 577 00:28:14,880 --> 00:28:17,160 Speaker 1: pull at your phone, put a calendar reminder right now 578 00:28:17,320 --> 00:28:19,480 Speaker 1: to be back on this channel at this time next 579 00:28:19,520 --> 00:28:22,439 Speaker 1: week because I'll bring back the information. But just to 580 00:28:22,440 --> 00:28:25,000 Speaker 1: catch you up super super quick. Sorry if you've been listening, 581 00:28:25,320 --> 00:28:27,879 Speaker 1: but basically ignore the price that we hit an all 582 00:28:27,920 --> 00:28:30,080 Speaker 1: new all time high. We crashed down a little bit 583 00:28:30,280 --> 00:28:32,879 Speaker 1: to ignore the price. Look at two things, both growth 584 00:28:32,920 --> 00:28:35,600 Speaker 1: of the network and innovation happened on the network. Um 585 00:28:35,600 --> 00:28:38,000 Speaker 1: News has been developing for about the last five months 586 00:28:38,280 --> 00:28:41,080 Speaker 1: that UM million and checking accounts, we're gonna have the 587 00:28:41,080 --> 00:28:43,160 Speaker 1: ability to buy, selling, and store bitcoin directly in their 588 00:28:43,200 --> 00:28:46,040 Speaker 1: checking account And this week f d i C Insurance 589 00:28:46,080 --> 00:28:48,560 Speaker 1: announced that they are looking for ways to provide insurance 590 00:28:48,600 --> 00:28:51,760 Speaker 1: to the bitcoin in checking accounts. I believe that that 591 00:28:51,920 --> 00:28:55,280 Speaker 1: is going to create an explosion of people buying it, 592 00:28:55,560 --> 00:28:58,080 Speaker 1: which could push the price higher. But you have the 593 00:28:58,120 --> 00:29:00,560 Speaker 1: information to get in front of that now before those 594 00:29:00,560 --> 00:29:03,960 Speaker 1: three and a million people join. But it's even bigger 595 00:29:04,000 --> 00:29:07,600 Speaker 1: than that, so you're caught up. So of course, um, 596 00:29:07,600 --> 00:29:09,680 Speaker 1: as that came out, it was it was big news, right, 597 00:29:10,360 --> 00:29:12,600 Speaker 1: but it's even bigger than that because I was kind 598 00:29:12,600 --> 00:29:15,600 Speaker 1: of focusing on the retail side now as I proposed 599 00:29:15,640 --> 00:29:18,480 Speaker 1: the question earlier, UM, do you think there would be 600 00:29:18,720 --> 00:29:22,520 Speaker 1: more people only a bigcoin or less if they logged 601 00:29:22,520 --> 00:29:23,760 Speaker 1: into their banks so they could buy it, and was 602 00:29:23,800 --> 00:29:26,160 Speaker 1: fd i C injured three and a million people? Would 603 00:29:26,160 --> 00:29:27,960 Speaker 1: there be more or less? Of course, dans would be more. 604 00:29:28,280 --> 00:29:30,600 Speaker 1: And if three and a million people bought or more 605 00:29:30,600 --> 00:29:32,240 Speaker 1: people bought with the price up or down, well, of 606 00:29:32,280 --> 00:29:34,520 Speaker 1: course the price will go up. So wouldn't it make 607 00:29:34,640 --> 00:29:37,560 Speaker 1: sense to get in in front of those people. Now 608 00:29:37,600 --> 00:29:39,440 Speaker 1: I'm asking you to think about this for yourself. I'm 609 00:29:39,440 --> 00:29:41,840 Speaker 1: definitely not giving you financial advice. I'm not telling you 610 00:29:41,880 --> 00:29:45,520 Speaker 1: the answer. I'm posing questions you should ask yourself. But 611 00:29:46,440 --> 00:29:48,720 Speaker 1: it's even bigger than that, because we're talking about retail 612 00:29:48,880 --> 00:29:50,240 Speaker 1: and like at the end of the day, I mean 613 00:29:50,240 --> 00:29:51,880 Speaker 1: three and a million customers. That's a lot of money. 614 00:29:52,280 --> 00:29:57,000 Speaker 1: But what are you gonna buy five bucks, a thousand bucks? Oh, 615 00:29:57,040 --> 00:29:58,680 Speaker 1: you're a ball, are going to buy a thousand bucks, 616 00:29:58,720 --> 00:30:02,000 Speaker 1: a hundred thousand bucks, a million in box? What about 617 00:30:02,000 --> 00:30:06,640 Speaker 1: the banks themselves? We're talking about hundreds of billions of dollars, 618 00:30:06,920 --> 00:30:09,600 Speaker 1: So what about the banks themselves? Well, in that news 619 00:30:09,600 --> 00:30:14,239 Speaker 1: that broke, we found out that, um, traditional banks are 620 00:30:14,240 --> 00:30:16,760 Speaker 1: gonna be able to hold bitcoin, not just me and you. 621 00:30:17,440 --> 00:30:19,880 Speaker 1: Not not just meaning with our thousand dollars or hundred 622 00:30:19,880 --> 00:30:23,880 Speaker 1: thousand dollars or million dollars I'm talking about. Banks can 623 00:30:23,960 --> 00:30:27,400 Speaker 1: hold the asset for themselves, they can use it as 624 00:30:27,480 --> 00:30:31,560 Speaker 1: collateral for lending, or they can just keep it on 625 00:30:31,600 --> 00:30:36,480 Speaker 1: their balance sheets. So banks are required by the Federal 626 00:30:36,480 --> 00:30:39,080 Speaker 1: reserved by law to hold reserves. Of course, right you 627 00:30:39,160 --> 00:30:41,440 Speaker 1: deposit your money in the banks they have to hold 628 00:30:41,480 --> 00:30:43,560 Speaker 1: assets on their books in case you want your money back, 629 00:30:43,600 --> 00:30:45,720 Speaker 1: they have to give your money back. Obviously, right now 630 00:30:45,960 --> 00:30:49,640 Speaker 1: you might be surprised. I hate to break it to you, 631 00:30:49,640 --> 00:30:53,000 Speaker 1: but there's something called fractional reserve banking, and what that 632 00:30:53,040 --> 00:30:55,880 Speaker 1: means is that when you deposit your money in the bank, 633 00:30:55,920 --> 00:30:58,560 Speaker 1: the bank doesn't actually keep that They keep a fraction 634 00:30:58,840 --> 00:31:03,520 Speaker 1: a fraction of that money and they blown out the 635 00:31:03,560 --> 00:31:08,040 Speaker 1: rest very risky. That's why back in two Great Financial Crash, 636 00:31:08,080 --> 00:31:11,320 Speaker 1: the global financial system crashed down because the banks didn't 637 00:31:11,360 --> 00:31:14,640 Speaker 1: have enough reserves and when it came time to pay 638 00:31:14,640 --> 00:31:16,479 Speaker 1: their bills, they didn't have the money because all their 639 00:31:16,480 --> 00:31:20,000 Speaker 1: money was risked out in investments and assets and things 640 00:31:20,040 --> 00:31:23,600 Speaker 1: like that. So um, now today they've had to increase 641 00:31:23,720 --> 00:31:27,520 Speaker 1: the reserve requirements of those banks, I think, from like 642 00:31:27,560 --> 00:31:30,320 Speaker 1: five percent up. So they're sitting on a bunch of 643 00:31:30,360 --> 00:31:33,360 Speaker 1: cash reserves, but they also where's the rest of the money, well, 644 00:31:33,360 --> 00:31:36,760 Speaker 1: the rest of the moneys and other assets. So now 645 00:31:37,520 --> 00:31:40,840 Speaker 1: these banks that have hundreds and hundreds of billions of 646 00:31:40,880 --> 00:31:45,400 Speaker 1: dollars of assets can now hold bitcoin on the balance 647 00:31:45,400 --> 00:31:48,760 Speaker 1: shot they're not allowed to before. Do you think a 648 00:31:48,800 --> 00:31:53,280 Speaker 1: couple of might Michael Sailor, the CEO of micro Strategy, 649 00:31:53,360 --> 00:31:58,440 Speaker 1: the first publicly traded company to buy bitcoin. They when 650 00:31:58,480 --> 00:32:00,800 Speaker 1: you're a publicly traded company like micro Strategy, making hundreds 651 00:32:00,800 --> 00:32:03,080 Speaker 1: of millions of dollars a year, you obviously keep money 652 00:32:03,120 --> 00:32:05,800 Speaker 1: in your bank account, just like if you have a business, 653 00:32:05,840 --> 00:32:09,000 Speaker 1: you keep money in your bank account obviously. Um, but 654 00:32:09,040 --> 00:32:10,840 Speaker 1: when you're a big company, like like a publicly traded 655 00:32:10,880 --> 00:32:14,960 Speaker 1: company or like Apple for example, you might have hundreds 656 00:32:15,040 --> 00:32:19,280 Speaker 1: of billions of dollars sitting in a bank account. What 657 00:32:19,320 --> 00:32:20,840 Speaker 1: do you do with that? I mean, it can't just 658 00:32:20,840 --> 00:32:23,960 Speaker 1: sit at well as wargo, So you have to actively 659 00:32:24,000 --> 00:32:27,360 Speaker 1: manage that money. So micro Strategy said, hey, we're just 660 00:32:27,360 --> 00:32:31,600 Speaker 1: gonna put it all into bitcoin. That's it all into bitcoin. 661 00:32:32,240 --> 00:32:37,160 Speaker 1: And since they've done that, they've like tripled it. I 662 00:32:37,160 --> 00:32:39,600 Speaker 1: didn't I didn't prepare before I jumped on, but I 663 00:32:39,600 --> 00:32:42,320 Speaker 1: think they averaged in. They continue to buy each month, 664 00:32:42,800 --> 00:32:45,800 Speaker 1: and they announced it publicly. But they bought in like 665 00:32:45,920 --> 00:32:48,400 Speaker 1: half a billion dollars when it was like I want 666 00:32:48,400 --> 00:32:50,520 Speaker 1: to say, like ten thousand dollars, and now it's at 667 00:32:50,560 --> 00:32:53,720 Speaker 1: sixty dollars. That's like half a billion dollars times six. 668 00:32:54,320 --> 00:32:58,160 Speaker 1: So don't you think a bunch of other financial institutions 669 00:32:58,160 --> 00:33:01,400 Speaker 1: saw that and saw micro strategy, rushed them on returns 670 00:33:01,400 --> 00:33:03,320 Speaker 1: and they want a piece of that. Well now they can. 671 00:33:04,800 --> 00:33:08,520 Speaker 1: Now they can hold that on there and I think 672 00:33:08,560 --> 00:33:11,600 Speaker 1: they will. Um what they can do now if you 673 00:33:11,680 --> 00:33:15,920 Speaker 1: understand how this works, this is the good part. Well, 674 00:33:15,960 --> 00:33:17,920 Speaker 1: it's the bad part and it's the good part. It's 675 00:33:17,960 --> 00:33:20,240 Speaker 1: the bad part because the banking system is corrupt and 676 00:33:20,240 --> 00:33:21,800 Speaker 1: it needs to be ended and we won't need to 677 00:33:21,800 --> 00:33:23,640 Speaker 1: burn it all down, and that's what bitcoin is here for. 678 00:33:24,440 --> 00:33:26,959 Speaker 1: But in terms of bitcoin, it's kind of good because 679 00:33:27,040 --> 00:33:31,000 Speaker 1: the banks basically get free money from the Federal Reserve. 680 00:33:31,320 --> 00:33:35,280 Speaker 1: The Federal Reserve creates So the way if you don't know, 681 00:33:35,680 --> 00:33:37,320 Speaker 1: by the way, you're listening to the Markmas show talking 682 00:33:37,360 --> 00:33:40,520 Speaker 1: about bitcoin, cryptocurrency and the decentralized revolution, if you don't 683 00:33:40,520 --> 00:33:44,600 Speaker 1: know how money is made, um, we talked about being printed. 684 00:33:44,640 --> 00:33:48,400 Speaker 1: What happens is the central bank, the Federal Reserve, creates reserves. 685 00:33:48,440 --> 00:33:52,360 Speaker 1: They put reserves onto the commercial banks, and then the 686 00:33:52,400 --> 00:33:56,480 Speaker 1: commercial banks create the money into existence by loaning it out. 687 00:33:56,560 --> 00:33:58,240 Speaker 1: So when you get an auto loan, a house loan, 688 00:33:58,280 --> 00:34:01,560 Speaker 1: a boat loan, r V loan except ura they literally 689 00:34:01,600 --> 00:34:03,760 Speaker 1: create that money. So the Federal Reserve gives them reserves. 690 00:34:03,800 --> 00:34:08,040 Speaker 1: So the banks are basically getting free reserves and it's 691 00:34:08,040 --> 00:34:11,880 Speaker 1: sitting there on their books. They get it for zero percent, 692 00:34:12,760 --> 00:34:15,360 Speaker 1: and now they can go buy all the bitcoin they want. Now, 693 00:34:15,640 --> 00:34:19,439 Speaker 1: if someone gave you a hundred billion dollars with zero 694 00:34:19,480 --> 00:34:21,960 Speaker 1: percent interest, do you think you might go buy a 695 00:34:22,000 --> 00:34:25,040 Speaker 1: little bit of bitcoin. I think you would. And now 696 00:34:25,040 --> 00:34:28,520 Speaker 1: the banks can do that um And so I think 697 00:34:28,560 --> 00:34:30,440 Speaker 1: that's going to be massive. Like I said, you know 698 00:34:30,480 --> 00:34:33,759 Speaker 1: three people like us, like me and you retail investors. 699 00:34:33,960 --> 00:34:35,680 Speaker 1: That's gonna be great for us. We're gonna go buy it. 700 00:34:35,760 --> 00:34:39,400 Speaker 1: That's cool. But what about when hundreds of billions of 701 00:34:39,480 --> 00:34:43,560 Speaker 1: dollars start going into the system. And that's exactly what 702 00:34:43,680 --> 00:34:45,200 Speaker 1: I think is going to happen. I think that's how 703 00:34:45,239 --> 00:34:48,280 Speaker 1: big it's going to go. We're already seeing it happening 704 00:34:48,320 --> 00:34:51,200 Speaker 1: with some of the other smaller banks. We're seeing some 705 00:34:51,239 --> 00:34:55,680 Speaker 1: of these UM, you know, kind of more crypto focused institutions. 706 00:34:55,880 --> 00:34:58,520 Speaker 1: I'm starting to do this as well, UM starting to 707 00:34:58,640 --> 00:35:03,000 Speaker 1: take their reserve and put it into bitcoin, and they 708 00:35:03,040 --> 00:35:05,520 Speaker 1: are crushing the market. And what happens is you know, 709 00:35:05,560 --> 00:35:08,920 Speaker 1: if you're a hedge fund, institution, bank, etcetera, you're competing 710 00:35:09,040 --> 00:35:12,200 Speaker 1: against the other ones, right, And so what happens is 711 00:35:12,280 --> 00:35:15,800 Speaker 1: if if another bank, another hedge fund, another institution puts 712 00:35:15,840 --> 00:35:20,279 Speaker 1: gold or puts bitcoin on their books and then outperforms me, 713 00:35:20,800 --> 00:35:24,160 Speaker 1: will shoot then I have to do the same thing, right, 714 00:35:24,239 --> 00:35:25,840 Speaker 1: So then I go by it. And when I go 715 00:35:26,000 --> 00:35:28,960 Speaker 1: by it supply demand. It pushes the price up, which 716 00:35:29,040 --> 00:35:31,719 Speaker 1: then means I outperform everybody else, which then means other 717 00:35:31,719 --> 00:35:34,160 Speaker 1: people have to get on when they go by, which 718 00:35:34,160 --> 00:35:35,919 Speaker 1: pushes the price of even more, which means other people 719 00:35:35,960 --> 00:35:38,840 Speaker 1: have to jump on, and it creates this self fulfilling prophecy. 720 00:35:39,000 --> 00:35:42,200 Speaker 1: I think you can understand that supply demand, right, So 721 00:35:42,239 --> 00:35:45,239 Speaker 1: that's exactly what happening. That is the biggest news of 722 00:35:45,280 --> 00:35:47,359 Speaker 1: the week. Like I said, when they announced this back 723 00:35:47,400 --> 00:35:50,719 Speaker 1: in May May five, I think it was May one, 724 00:35:50,800 --> 00:35:52,800 Speaker 1: you had the chance to buy bitcoin at thirty thousand. 725 00:35:52,920 --> 00:35:57,600 Speaker 1: Today it's a six. It's doubled um. I think this 726 00:35:57,680 --> 00:36:00,800 Speaker 1: news could push it up way more than that. Now, again, 727 00:36:00,800 --> 00:36:03,600 Speaker 1: this is not financial advice. I'm asking you questions. I'm 728 00:36:03,640 --> 00:36:06,719 Speaker 1: hoping that you can answer them for yourselves. But if 729 00:36:06,719 --> 00:36:09,960 Speaker 1: you had it, if you had a time machine and 730 00:36:10,040 --> 00:36:12,200 Speaker 1: you could go back in time to May when they 731 00:36:12,239 --> 00:36:14,239 Speaker 1: first announced they were actually going to bring this to 732 00:36:14,280 --> 00:36:16,800 Speaker 1: the banks. Um, if you have times, you can go 733 00:36:16,840 --> 00:36:18,440 Speaker 1: back there to do whatever. Would you have bought bitcoin 734 00:36:18,480 --> 00:36:21,200 Speaker 1: at thirty knows say? I think the answer is, of 735 00:36:21,239 --> 00:36:24,239 Speaker 1: course yes. And so today another piece of news just 736 00:36:24,280 --> 00:36:25,920 Speaker 1: broke that I think is even bigger, and that's the 737 00:36:25,960 --> 00:36:28,440 Speaker 1: fd i C piece. And so you have another choice 738 00:36:28,480 --> 00:36:30,520 Speaker 1: to make, And I'm not gonna tell you what that 739 00:36:30,560 --> 00:36:33,440 Speaker 1: choice should because again this is a financial information. I 740 00:36:33,560 --> 00:36:36,640 Speaker 1: want to let you decide for yourself. UM. I learned 741 00:36:36,640 --> 00:36:38,239 Speaker 1: my dad used to repeat to me over and over. 742 00:36:38,280 --> 00:36:41,880 Speaker 1: He said, you know, once is an accident. Once it's 743 00:36:41,880 --> 00:36:44,840 Speaker 1: an accident. He said, twice is stupid. So I just 744 00:36:44,880 --> 00:36:46,880 Speaker 1: try not to make the same mistakes twice. UM, if 745 00:36:46,920 --> 00:36:48,759 Speaker 1: I would go back and do something different than I 746 00:36:48,800 --> 00:36:51,879 Speaker 1: would try to do not make that same mistake again today. 747 00:36:52,360 --> 00:36:53,879 Speaker 1: By the way, you're listening to the Mark My show, 748 00:36:53,920 --> 00:36:56,239 Speaker 1: I'm talking about big when I'm talking about cryptocurrencies, I'm 749 00:36:56,239 --> 00:36:58,600 Speaker 1: talking about the decentralized revolution. I'm trying to bring you. 750 00:36:58,680 --> 00:37:01,280 Speaker 1: I'm not trying I am bringing you the latest information 751 00:37:01,280 --> 00:37:04,600 Speaker 1: that you need every single week to take advantage of 752 00:37:04,600 --> 00:37:06,520 Speaker 1: this asymmetric opportunity that's in front of you, the biggest 753 00:37:06,520 --> 00:37:08,880 Speaker 1: opportunity that you will ever have in your lifetime, that 754 00:37:09,120 --> 00:37:12,920 Speaker 1: generations will see, Your grandkids will thank you for listening 755 00:37:12,960 --> 00:37:15,279 Speaker 1: to this show. You're listening to the Mark Mos Show. 756 00:37:15,320 --> 00:37:15,600 Speaker 1: Thank you,