Speaker 1: Welcome to another episode of The Mark Mass Show, where
Speaker 1: I am bringing you the latest information on bitcoin and
Speaker 1: cryptocurrencies and of course this decentralized revolution that we are
Speaker 1: going through right now. Now. I want to start off
Speaker 1: the show to tell you that I am going to
Speaker 1: bring you the latest news that you need this weekend
Speaker 1: to catch you up on what is going on in
Speaker 1: the bitcoin of the cryptocurrency space. I cannot understate this,
Speaker 1: or I guess I should say I can't overstate this enough.
Speaker 1: Um can't get that right. But I don't want to
Speaker 1: be dramatic, but I'm telling you the truth here. This
Speaker 1: is this will be the biggest opportunity that you've ever
Speaker 1: had in your lifetime, and not just your or my lifetime.
Speaker 1: I'm talking about generations. It's that big. We're on the
Speaker 1: verge of this or we're actually witnessing this technological revolution
Speaker 1: that's happening, of course, and this presents us with the
Speaker 1: best asymmetric opportunity that means more upside than downside, and
Speaker 1: of course you participate in that by having a symmetric
Speaker 1: information That means you have to know something that most
Speaker 1: people don't have. And so that's what I bring to you.
Speaker 1: Each and every week here on the Mark Moss Show.
Speaker 1: So right before I jump into the hottest news that
Speaker 1: you need to know, just real quick if you want,
Speaker 1: grab your phone, put a reminder this time, this channel
Speaker 1: come back each and every week. It is going to
Speaker 1: be the most beneficial, the most profitable time that you
Speaker 1: will spend each every week. So come hang out with me,
Speaker 1: of course. Hit me up on social media. UM one
Speaker 1: Mark Moss. That's right, one Mark Moss. That's the number one.
Speaker 1: You can find me on Twitter, you can find me
Speaker 1: on Instagram. Send me a message, ask me a question.
Speaker 1: I'll make sure to answer it live on the show
Speaker 1: next week. I'd love to hear from you guys. Tell
Speaker 1: me you heard me on the radio. And with that,
Speaker 1: let's go ahead and talk about what is going on
Speaker 1: in the bitcoin and cryptocurrency world, because there's a lot
Speaker 1: happening now. There's a quote that I say quite often.
Speaker 1: It's um not from somebody admire, but I like the quote,
Speaker 1: and it's from a Lenin. That's right. The Russians are
Speaker 1: that did a lot of damage in Russia. I will
Speaker 1: just leave at that. But he said that there's decades
Speaker 1: where nothing seems to happen and then there's days where
Speaker 1: decades seem to happen, and so you know, it's not
Speaker 1: every single week we have big, big things happening. But
Speaker 1: this week we have some big things. First, we're just
Speaker 1: gonna start with a little bit of the price. I
Speaker 1: don't like to focus on the price, as I like
Speaker 1: to say over and over and over in each other week,
Speaker 1: that the price is a distraction. The prices a distraction.
Speaker 1: You should not be And I don't care if it's
Speaker 1: a bitcoin or cryptocurrency. I don't care if it's gold,
Speaker 1: if it's if it's Tesla stock, I don't care what
Speaker 1: the asset is. You should never be looking at the
Speaker 1: price on a daily, weekly or monthly basis. I mean,
Speaker 1: if you're a day trader, I guess then you should.
Speaker 1: You should be looking at it a minut a minute
Speaker 1: by minute. Unfortunately, about nine percent of day traders lose
Speaker 1: their money. I know it sounds fun, I know it's exciting,
Speaker 1: it's like gambling is super cool, But the reality is
Speaker 1: you get burned out, you get stressed out, and then
Speaker 1: most likely you lose money. So for the majority of us,
Speaker 1: we don't want to be looking at the price on
Speaker 1: a regular basis. I like to say that the price
Speaker 1: is a short term distraction. As a matter of fact,
Speaker 1: there was a study that came out and it said
Speaker 1: that I don't have it pulled up in front of me,
Speaker 1: so I'm just gonna kind of paraphrase what the study was.
Speaker 1: It just came out recently, and it said that investors
Speaker 1: that get too much information actually do worse with their investments,
Speaker 1: which seems kind of counterintuitive, right, because you would think
Speaker 1: if you had the most up to date information that
Speaker 1: you would have better results. But that's actually not what
Speaker 1: this research shows. And the reason why is because you
Speaker 1: have too much information coming in and you feel like
Speaker 1: you need to react to everything. I need to do something,
Speaker 1: I need to do something to do something, and so
Speaker 1: too much information is actually a problem. Um. And it
Speaker 1: kind of goes along with something that one of the greatest,
Speaker 1: most quotable investors in the history of the world, UM says, my.
Speaker 1: You know, our good old uncle Warren Buffett lots of
Speaker 1: wisdom that he can share with us, and he's he
Speaker 1: used to say that if a new investor came into
Speaker 1: the into the space and knew that for his entire career,
Speaker 1: he only had twenty moves. That's it. His whole career.
Speaker 1: He could only do twenty moves, that would be the
Speaker 1: best thing that could ever happen to him. And the
Speaker 1: reason why is again, uh, the same thing as not
Speaker 1: having you know, having too much information, is then you're
Speaker 1: going to take advantage of big moves that take a
Speaker 1: long time to play out, and you're gonna be patient
Speaker 1: because you only have twenty moves, and so they kind
Speaker 1: of work hand in hand. And so back to bitcoin
Speaker 1: and cryptocurrencies. Um, the price has been moving around, it's
Speaker 1: been really very volatile. As a matter of fact, Um,
Speaker 1: last week, October twenty two, we saw bitcoin reach new
Speaker 1: all time highs, which of course was super exciting, fireworks
Speaker 1: going off, high fives and congratulations to everyone because I
Speaker 1: guess we hit a new all time high. But again,
Speaker 1: especially when it comes to new technologies like bitcoin and cryptocurrencies,
Speaker 1: the price isn't what we should be looking at. Instead,
Speaker 1: there's two things that we want to look at, and
Speaker 1: I talked about this each and every week, and I
Speaker 1: keep you up to date on these things because these
Speaker 1: are the most important, not the price. The two most
Speaker 1: important things that we talked about every week are one
Speaker 1: the adoption, the network growth the growth of the network,
Speaker 1: and that goes back to something called Metcalf's law. Metcalf's
Speaker 1: law says that the more the network grows, the more
Speaker 1: the value grows. It's exponential and and and the super
Speaker 1: easy analogy would be that if I'm the only person
Speaker 1: in the world with a telephone, it's not very valuable.
Speaker 1: Who the heck am I gonna call? If one other
Speaker 1: person has a phone, it's a little bit more valuable.
Speaker 1: More people have phones, it's more valuable when everybody in
Speaker 1: the world has a phone. Of course, it's much more valuable.
Speaker 1: Funny story, I'm old, old enough to have lived before
Speaker 1: cell phones, that is anyway, And I remember I think
Speaker 1: it was like right after I got out of high school,
Speaker 1: I got my very first mobile phone. They had been
Speaker 1: around for a while. It wasn't like the big briefcase
Speaker 1: ones that you saw like Wall Street traders with like
Speaker 1: in the eighties and car phones. It was it was
Speaker 1: it was a little bit newer than that, but it
Speaker 1: was still just numeric only, so on the display it
Speaker 1: just showed numbers and didn't even have alpha on there.
Speaker 1: So it's kind of and I remember I got that
Speaker 1: phone and um. Right after I got out of high school,
Speaker 1: I was eighteen years old. I was starting to buy
Speaker 1: and sell homes. I was buying bank owned repos and
Speaker 1: fix them up and selling them. So I was out
Speaker 1: on the road looking at properties. And so you know,
Speaker 1: I got the phone I needed. I'm cool, I'm important, whatever.
Speaker 1: But the funny thing was is that I was like
Speaker 1: the only person I knew with the phone, and so like,
Speaker 1: who was I going to call? And so like, literally
Speaker 1: most of the time, at least when I first had
Speaker 1: the phone, I would just leave it at the house.
Speaker 1: I didn't take it with me anywhere because like, what
Speaker 1: was I gonna do with it? Right? And so it
Speaker 1: wasn't worth a lot because none of my other friends
Speaker 1: had phones. But today I can't go anywhere without the phone.
Speaker 1: Of course, the phone is a lot more. So we
Speaker 1: want to look at the metcalf slow. We want to
Speaker 1: look at the network growth. That is one of the
Speaker 1: most important things. As long as the network continues to grow,
Speaker 1: as long as we see more and more people using it,
Speaker 1: more and more people adopting it, um, then it continues
Speaker 1: to grow. And I am going to share a piece
Speaker 1: of news with you this that happened this week. I
Speaker 1: want to bring it to you this weekend, but it
Speaker 1: was the biggest piece of news this week that I
Speaker 1: think kind of went under the rug. Most people missed it.
Speaker 1: But if you agree with me that network growth is
Speaker 1: one of the most important factors, then wait until you
Speaker 1: hear what I have to say. But before I tell
Speaker 1: you that, um, the second most important thing that you
Speaker 1: want to pay attention to is development on the network.
Speaker 1: You want to make sure that the network is continuing
Speaker 1: to be developed. It's growing, the capabilities, the capacities, etcetera.
Speaker 1: Are growing. So as long as those two things are growing,
Speaker 1: then we know that we're continuing to grow. So people
Speaker 1: that are following the price on a daily basis, they're
Speaker 1: never gonna make it. In bitcoin, we call that d M.
Speaker 1: I never gonna make it now. Like I said, we
Speaker 1: saw a bitcoin break that new all time high back
Speaker 1: on October I guess that was October, and then it plunged.
Speaker 1: Then bitcoin blunded. It fell all the way down. You
Speaker 1: won't believe it, all the way down to fifty eight
Speaker 1: thousand dollars. No, no, no, no, no, no, I mean
Speaker 1: that was a that was about a twelve thirteen thirteen
Speaker 1: and a half percent drop. It went all the way
Speaker 1: back down to the price it was five days earlier.
Speaker 1: But yet didn't didn't stop all the major media outlets
Speaker 1: from declaring Bitcoin dead. This is it, game over, Pack
Speaker 1: it up, boys, cryptocurrency is a failed experiment. We hit
Speaker 1: the new all time high and then we crashed all
Speaker 1: the way back down to where prices were five days earlier. Oh,
Speaker 1: it's horrific, But I'm sure glad I didn't pack up,
Speaker 1: because of course Bitcoin wasn't dead. Cryptocurrencies are not going away.
Speaker 1: Not there's easily not ever in my opinion. And of
Speaker 1: course the price has come roaring back and we are
Speaker 1: sitting at around sixty one and a half or so ish.
Speaker 1: But again, I'm just kind of talking about this because
Speaker 1: I'm trying to help you. We don't want to be
Speaker 1: focused on the price. I'm talking about it, but only
Speaker 1: to tell you that it's not that important. Remember, the
Speaker 1: two most important things are network growth because of Metcalf's law,
Speaker 1: and development on the network. And I want to tell
Speaker 1: you what happened this week, Like I said, that really
Speaker 1: slipped through the rug. That shows you how fast this
Speaker 1: network is about to take off. And I mean, it
Speaker 1: is going to blow up. You need to know this
Speaker 1: and you have a chance to front run this information.
Speaker 1: But I'm gonna bring it right back in a second.
Speaker 1: You're listening to the Mark Mass Show, where I bring
Speaker 1: to you the latest information on bitcoin, cryptocurrencies and the
Speaker 1: decentralized revolution each and every week because with this information
Speaker 1: you were going to be ahead of I don't know
Speaker 1: the people, so you can take advantage of the asymmetric upside.
Speaker 1: I'll be right back, all right, welcome back. You are
Speaker 1: listening to the Mark mo Show, where I come to
Speaker 1: you each and every weekend bringing you the most important
Speaker 1: information on bitcoin and cryptocurrencies and the decentralized revolution. It's
Speaker 1: moving fast. Um now before the break I was talking
Speaker 1: about now we don't need to focus on the price.
Speaker 1: The prices of distraction. The price shows a short term
Speaker 1: It's kind of like, um, well, I grew up racing
Speaker 1: dirt pikes. I still I still ride dirt by I
Speaker 1: don't really race that much anymore. Um And you know,
Speaker 1: I like to do a lot of desert writing. And
Speaker 1: when you're riding a dirt bike, you're going really fast
Speaker 1: and it's dangerous. There's there's rocks, and there's ruts and
Speaker 1: there's bumps, and there's all kinds of stuff going on,
Speaker 1: and you're going fast. Obviously that the faster you go,
Speaker 1: the further out ahead you have to look what happens
Speaker 1: with new um kind of new beginner riders um they
Speaker 1: like to focus right in front of their wheel, like look,
Speaker 1: look straight down at the ground, like I need to
Speaker 1: see every rock that's there. But the problem is when
Speaker 1: you're only looking at the ground, you can't see the
Speaker 1: bigger picture. And so now you're trying to react to
Speaker 1: everything in front of you, but you don't have time
Speaker 1: to plan for the stuff that's coming. And so that's
Speaker 1: the biggest mistake that new writers have is just focusing
Speaker 1: on the ground and not looking further ahead. And that's
Speaker 1: that's what looking at the price the bitcoin and cryptocurrencies
Speaker 1: every day is. You don't want to be staring at
Speaker 1: the ground. You can't do that. You have to be
Speaker 1: looking at the bigger picture. Because the price, as I
Speaker 1: was kind of talking right that, we had a new
Speaker 1: all time high last week and then oh my gosh,
Speaker 1: the price crashed all the way down to where it
Speaker 1: was five days before. Are and mainstream media want to
Speaker 1: declare a bitcoin dead again. And if you were just
Speaker 1: focused on the ground, if you were just focused on
Speaker 1: that price, you would have sold. But we don't do
Speaker 1: that right. Not if you're listening to me like a
Speaker 1: professional motocross racer desert racer, you're looking way out ahead, right.
Speaker 1: We want to plan for what's coming, not for what's
Speaker 1: happening right this second. And so we're doing that by
Speaker 1: two things, network growth. I talked about mccafs law and
Speaker 1: then we talked about development. Today I want to bring
Speaker 1: to you one of the biggest stories of this week
Speaker 1: that really talks about that network growth and it really
Speaker 1: UM started back in May of this year. So in
Speaker 1: May of this year, UM, a big are a big
Speaker 1: article well broke all over all the new sources and
Speaker 1: it may have this year a big news broke out
Speaker 1: that a company called night Digg n y d i
Speaker 1: G Nightigg was there. They're a back office service provider
Speaker 1: for all the banks in the United States. UM, and
Speaker 1: so as you might imagine, you know, banks don't do
Speaker 1: everything in house, right, so they kind of outsource. At
Speaker 1: night I provided that back office service. And so they
Speaker 1: said back in May May five of this year, that
Speaker 1: night Egg was going to um provide banks with the
Speaker 1: capability to allow their customers to buy, sell, and store
Speaker 1: bitcoin directly in their bank checking accounts. What are you
Speaker 1: kidding me? Yes, they said they would do that back
Speaker 1: in May of this year. They said that banks. Let
Speaker 1: me say this, banks are asking for bitcoin because they
Speaker 1: can see their customers are sending dollars to coin base
Speaker 1: and other crypto exchanges. So the thing with banking is,
Speaker 1: and in any business for that matter, So what a
Speaker 1: business wants to do is a business wants to create
Speaker 1: something that's called sticky. In business as entrepreneurship, we'd call
Speaker 1: that sticky, right. We want to make it where a
Speaker 1: customer comes onto our platform, it's very difficult for them
Speaker 1: to get off, right, it's sticky. And that's what banking is.
Speaker 1: So like, the very first checking account I ever got
Speaker 1: was with Wells Fargo, and I've been with Wells Fargo
Speaker 1: ever since a long time. Now, Wells Fargo hasn't done
Speaker 1: anything to earn my trust. As a matter of fact,
Speaker 1: they've they've paid out the largest lawsuits in history for
Speaker 1: for fraudulently putting accounts on to people things like that.
Speaker 1: But yet I haven't gone anywhere because it's sticky. It's
Speaker 1: hard for me to close my accounts and open new accounts.
Speaker 1: All that some stuck there, right, But what what banks
Speaker 1: are seeing is that customers are pulling their money out
Speaker 1: and they're going to coin base and Cracking and Gemini
Speaker 1: and et cetera. So the banks aren't happy about that,
Speaker 1: right because they know that once those customers leave, they
Speaker 1: may not be coming back because it's sticky. So the
Speaker 1: banks are like, shoot, we better do something here, So
Speaker 1: we'll partner up with nightigg um and then we'll allow
Speaker 1: people to buy it directly in their accounts um. Nightig
Speaker 1: said that after they rolled out the initial bitcoin product
Speaker 1: that Nightig would then offer other services through the banks,
Speaker 1: including both debit card rewards points paid in bitcoin, and
Speaker 1: a new type of bank account wait for it, wait
Speaker 1: for it, that's f d I c ensured and pays
Speaker 1: interest in bitcoin. You gotta be kidding me, Well, this
Speaker 1: is back in May of this year, they said that
Speaker 1: they were going to roll those services out two over
Speaker 1: three hundred banks. Then it went up to six hundred banks,
Speaker 1: which maybe doesn't sound like a lot. Hundreds of banks.
Speaker 1: Three to six hundred banks, three hundred banks maybe it's
Speaker 1: not that lot, not that much, but those three hundred
Speaker 1: banks make up over three hundred million checking accounts. Yeah,
Speaker 1: it's not, it's not. You didn't hear me wrong. That's
Speaker 1: three in a million checking account So that's they said
Speaker 1: they would do this, and they said they would do
Speaker 1: this by this year, two thousand twenty one. Now, when
Speaker 1: they came out with that in May, obviously I was excited.
Speaker 1: I rolled that information out to my audience. If you
Speaker 1: would have been listening to me back then, you would
Speaker 1: have made a lot more money because in May when
Speaker 1: that news broke, the price of bitcoin was about thirty
Speaker 1: thirty three thousand dollars, So you could have doubled your
Speaker 1: money if you would have bought in then, right, we
Speaker 1: want to What we want to do is we want
Speaker 1: to front run this information because again, asymmetric information, information
Speaker 1: most people don't have, allows us to get in before
Speaker 1: most other people. We can front run it, right, we
Speaker 1: get in front. So when that knows news broke back
Speaker 1: in May, you could have got in about thirty thousand,
Speaker 1: would double your money. Um. But here we are. Um,
Speaker 1: they said they do this by the end of the year.
Speaker 1: And now people that I talked to on the inside
Speaker 1: of the industry. They told me, Shoot, I don't think
Speaker 1: that's gonna happen. Have you ever seen how slow banks work.
Speaker 1: Banks can't even upgrade their own internal software, Like you
Speaker 1: really think they're gonna get that done in time? Um, well,
Speaker 1: let's wait and see, right, Um, But the banks really
Speaker 1: wanted that. They know that if they don't do it,
Speaker 1: they're gonna lose out their customers, and so they're pressured
Speaker 1: to do that. Um. Now, some of the big banks
Speaker 1: like Morgan's or more I should say financial institutions like Morgan, Stanley,
Speaker 1: Goldman Sacks, they're already in bitcoin right, already offering those
Speaker 1: services JP Morgan right there on. They're getting on board.
Speaker 1: But the banks wanted to be able to allow their
Speaker 1: customers to literally buy bitcoin through their checking account with
Speaker 1: as little as one single dollar. And that's a big
Speaker 1: misconception that people have. They think that, oh, shoot, bitcoin
Speaker 1: sixty one dollars. I don't have sixty one dollars. I
Speaker 1: can't buy that, so I'll just go buy she booo. Right,
Speaker 1: that's cheap. I'll buy that instead, which we can talk
Speaker 1: about that later. But um, the fact is is that
Speaker 1: you can buy a dollars worth of bitcoin and now
Speaker 1: you might be able to do that directly from your
Speaker 1: banking account. So that happened back in May five, right, Well,
Speaker 1: the year goes on, you know, May, June, July, August,
Speaker 1: nothing's happening. People are like, oh my gosh, what happened
Speaker 1: with that information? I thought it was gonna be big
Speaker 1: as massive? Well remember patients, right, patients, UM, I like
Speaker 1: to say, over and over and over, and if you're
Speaker 1: listening to my show each and every week, which I
Speaker 1: hope you do, which, by the way, you're listening to
Speaker 1: the Mark mass Show, I like to repeat one of again,
Speaker 1: Warm Bufett. Actually it's his partner, Charlie Munger. He says
Speaker 1: that the big money is not made in the buying,
Speaker 1: in the selling. The big money is made in the waiting,
Speaker 1: the waiting. Not the buying selling, but the waiting. That
Speaker 1: goes back to what I said before the break said,
Speaker 1: if you only had twenty moves your whole career, you
Speaker 1: do much better. So the waiting and so, uh, you know,
Speaker 1: you got the news, hopefully made a move on it,
Speaker 1: and then you have to wait. And so then moving forward,
Speaker 1: we saw October five, a couple of weeks ago, some
Speaker 1: big news came out. US Bank, the fifth largest retail
Speaker 1: bank in the United States, announced on October five that
Speaker 1: they are going to offer bitcoin buying, selling, and custody
Speaker 1: services in their bank, the fifth largest banking United States. October.
Speaker 1: So you see the news is now starting to come out.
Speaker 1: Let's let's talk about some of the big misconceptions that
Speaker 1: people have and how news like this could overcome that.
Speaker 1: But there's one more piece of information that just came
Speaker 1: out this week that blows this wide open. And I
Speaker 1: want to talk to you about something called diffusion of innovation.
Speaker 1: Innovation diffusion. That's how innovation gets out there. And once
Speaker 1: you understand this and put it together with the news
Speaker 1: that just came out, you're gonna want to go buy
Speaker 1: some cryptocurrency. Right this is very second, So I'm gonna
Speaker 1: bring that to you when I come back. You're listening
Speaker 1: to the Mark mass Show talking about bitcoin, cryptocurrencies and
Speaker 1: the decentralized Revolution. I'll be right back, all right, welcome back.
Speaker 1: You are joining me at the Mark Moa Show. We're
Speaker 1: talking about bitcoin and cryptocurrencies and the decentralized revolution. If
Speaker 1: you're just tuning in, well I'm sorry. You've missed a lot.
Speaker 1: We have gone over so much. We've been talking about bitcoin,
Speaker 1: cryptocurrency is making new all time eyes and then then
Speaker 1: crashing all the way down to where they were, you know,
Speaker 1: a few days before. UM. But we talked about how
Speaker 1: looking at the price is a big distraction and really
Speaker 1: what we should be looking at two things network growth
Speaker 1: and development. And I'm taking everybody through some of the
Speaker 1: biggest news that just came out that has literally slipped
Speaker 1: under the rug that most people are missing. And and
Speaker 1: and in my position as an as a career I've
Speaker 1: been a lifelong career investor. You're looking for fundamental news,
Speaker 1: fundamental information that will move the market. UM. And so
Speaker 1: when you're looking at the price and don't tell you nothing,
Speaker 1: I'll tell you what happened. That was a lagging indicator.
Speaker 1: That means you it's lagging. It tells you what happened.
Speaker 1: We're looking for leading leading in kators tells us what
Speaker 1: will happen. That's what we want, right, So UM, I
Speaker 1: went back I started talking about Back in May, um Nighting,
Speaker 1: a company called Nighting, announced that they were going to
Speaker 1: allow banks three three hundred, three hundred banks that service
Speaker 1: about three million checking accounts UM allowing those three million
Speaker 1: checking accounts to buy, sell store bitcoin as as much
Speaker 1: as a dollar is worth a bitcoin directly in their
Speaker 1: checking account UM and then we want to that's that's
Speaker 1: really big news because imagine if there's three hundred million
Speaker 1: people that can just buy it with a click of
Speaker 1: a button. So, shoot, if that's going to happen, I
Speaker 1: should probably buy now before those three million people buy.
Speaker 1: That would be like a logical thing that you would think,
Speaker 1: which if you would have bought off of that news
Speaker 1: back in May, you would have been buying back around
Speaker 1: thirty thou dollars and you would have doubled your money.
Speaker 1: A hundred percent increase in money just because you moved
Speaker 1: on that news would have been great. But right now
Speaker 1: I'm trying to give you some updates on that. So
Speaker 1: moving forward, we saw October five, a couple of months later,
Speaker 1: um US Bank, just the fifth largest retail bank in
Speaker 1: the nation, announced that they are launching it. Finally it's coming,
Speaker 1: we heard about it and it's actually here. Um That
Speaker 1: was really big news. And so October five, u S Bank,
Speaker 1: this largist announced that they were going to bring these
Speaker 1: bitcoin services bitcoin, bitcoin cash and lightcoin. Um, that's the
Speaker 1: three assets that they would have, and they said they
Speaker 1: might support other assets later over time. So that's good
Speaker 1: a couple of weeks ago. But then this week, remember
Speaker 1: I'm bringing you the latest information. So what happened this
Speaker 1: week and that's what we need to talk about. So
Speaker 1: this week we saw the f d i C. For
Speaker 1: those of you that don't know what that is, I
Speaker 1: don't know where you've been. It's the Federal Deposit Insurance
Speaker 1: Corporation f d a C. And they basically ensure you're
Speaker 1: checking accounts. So the money they have in the bank.
Speaker 1: Hopefully you have money in the bank. Everybody should save
Speaker 1: some money, don't you save some money? But um, the
Speaker 1: money you have in the bank is the FDNC insurance.
Speaker 1: So that means if the bank order go out of
Speaker 1: business or get hacked or something that happened, that he's
Speaker 1: insured and you would get reimbursed, right, And that's what
Speaker 1: insurance does. And so a lot of people are afraid,
Speaker 1: they're skeptical, they're worried about bitcoin or cryptocurrencies because you
Speaker 1: know what happens if it's on exchange, it gets hacked,
Speaker 1: it gets stolen exchange without a business, which is all
Speaker 1: those things have happened. Um, and if it happens, it's
Speaker 1: not insured. Oh my gosh, Well lots of things aren't insured.
Speaker 1: Lots of your assets aren't insured. Viously, aren't insured, etcetera. Um,
Speaker 1: but anyway, everybody thinks we need to have this fd
Speaker 1: a C insurance. So this week, as a matter of fact,
Speaker 1: it was October, just a couple of days ago, we
Speaker 1: got time. Nobody knows this yet, you know. The f
Speaker 1: d i C chairman um explained that they are exploring
Speaker 1: how banks could now hold crypto assets f d C insured.
Speaker 1: What now, that is big news. That is really big news,
Speaker 1: um per routers. It says that top US bank regulator
Speaker 1: said US officials are looking to provide a clear path
Speaker 1: for banks and their clients looking to hold cryptocurrencies. The
Speaker 1: f d i C Federal Deposit Insurance Corporation told Reuters
Speaker 1: in an interview on Monday that a team of U
Speaker 1: S bank regulators is trying to provide a roadmap for
Speaker 1: banks to engage with crypto assets. Um, and that's big news,
Speaker 1: they said. Quote, if we don't bring this activity inside
Speaker 1: the banks, is going to develop outside of the banks
Speaker 1: and the federal regulators won't be able to regulate it.
Speaker 1: So if they don't provide what the market wants, the
Speaker 1: market's gonna go get it somewhere else. That's basically what
Speaker 1: they said. They said that they wanted to say that
Speaker 1: some banks have already been dabling in these areas without
Speaker 1: regulatory clarity, and so we need to give that to them.
Speaker 1: So let me let me let me tell you how
Speaker 1: big this is if you're not quite figuring this out.
Speaker 1: So there's a lot of objections that people have to
Speaker 1: bitcoin and cryptocurrencies, right the big ones are, the government's
Speaker 1: going to make it illegal, okay, um or um it's
Speaker 1: a fat it's a scam, it's a ponzi. Or um
Speaker 1: it's too difficult, I don't know how to do it,
Speaker 1: or um, I don't trust hooking up you know, an
Speaker 1: account like coin based to my bank account. They could
Speaker 1: hack it or something like that. So those are all
Speaker 1: concerns that people have. Now part of the reason why
Speaker 1: they have those concerns is because of something known as
Speaker 1: the innovators diffusion, innovator's confusion, or it's actually probably called
Speaker 1: diffusion of innovation and so um, that's something that you
Speaker 1: might want to look go on Google and you can
Speaker 1: google that innovator innovator's diffusion or diffusion of innovation. And
Speaker 1: so what what this basically is is it shows when
Speaker 1: there's a new innovation, new technology, UM, how the very
Speaker 1: predictable path to UM diffusion or two adoption goes. And
Speaker 1: so what happens is just to kind of give you
Speaker 1: an overview, is that what happens is in the beginning,
Speaker 1: you have this brand new technology which is brought by
Speaker 1: the inventors. Of course, right those are the innovator and typically,
Speaker 1: you know, you'll see more and more innovators kind of
Speaker 1: start playing around this and you get to about two
Speaker 1: and a half percent adoption. UM, you get to you
Speaker 1: get to about um adoption, and then you start getting
Speaker 1: some visionaries. And the visionaries are ones that see what
Speaker 1: the inventors are doing, the innovators are doing, and they
Speaker 1: believe in it. They believe that technology could be something
Speaker 1: in the future. But they're the visionaries. Right, UM, when
Speaker 1: I was, you know, I started my career, I think
Speaker 1: I've told you probably many times before, I'm buying buying
Speaker 1: bank owned repos that were thrashed and the banks couldn't
Speaker 1: sell these tw people because they didn't have floors or
Speaker 1: kitchens and the stuff like that. No one get alone.
Speaker 1: So they need someone like me, an investor, to come
Speaker 1: in and buy the house, fix it up, put the kitchen,
Speaker 1: the floors in and then they could sell them. Right,
Speaker 1: they get alone. But you come in and see these
Speaker 1: homes and you're like, what the heck is this? It's
Speaker 1: a disaster. Right, So you had to be an innovator.
Speaker 1: You had to have this, or you had to be
Speaker 1: a visionary. You had to have this vision of what
Speaker 1: it could be one day. If you guys have watched
Speaker 1: like home flipping shows on TV, which come on, admit it,
Speaker 1: you have everybody has um right, and the these people
Speaker 1: walk in these houses and they're trashed, right, they've been
Speaker 1: burned down or whatever. Um And so you have to
Speaker 1: have this vision and a lot of people just don't
Speaker 1: have that. They just they can't imagine how good it
Speaker 1: could look in the future, which is why those people
Speaker 1: miss out on opportunities. Right. So you have the visionaries
Speaker 1: come in and they believe in the innovators, and you
Speaker 1: get up to about an eighteen percent or so um
Speaker 1: percentage of adoption, and then there's something known as the
Speaker 1: chasm and the chasm is a gap between the visionaries
Speaker 1: and the early adopters. And the reason why there's a
Speaker 1: gap there is because of all the reasons I just said,
Speaker 1: there's a mental break, there's a there's a there's a
Speaker 1: perception that's missing. People think it's gonna be made illegal,
Speaker 1: it's too hard to buy, it's too risky, it's not insured,
Speaker 1: and on and on and on. Right, that's the chasm.
Speaker 1: But once you cross that chasm, then an adoption explodes.
Speaker 1: All right, And what I'm telling you right now is
Speaker 1: the news that just broke that you're hearing it right now.
Speaker 1: The banks now are going to allow you to buy
Speaker 1: bitcoin a dollar's worth right in your bank account, store
Speaker 1: it safely, and even have the f D i C
Speaker 1: insurance on it. So let me ask you just a
Speaker 1: simple question. Do you think if you logged into your bank,
Speaker 1: you know, wells Fargo, Bank America, JP, Morgan, whatever it is,
Speaker 1: and you were using your app or whatever, and you
Speaker 1: logged in and right there was a button that said
Speaker 1: by bitcoin, Oh and it's f D i C insured,
Speaker 1: do you think there would be more people that would
Speaker 1: own bitcoin or would there be less? M hmm, Well,
Speaker 1: if you guess more then I think you would be right.
Speaker 1: Of course there'd be more. And if more people bought it,
Speaker 1: do you think the price would go up or would
Speaker 1: the price go down? Of course if more people out,
Speaker 1: the price would go up. So what do you think
Speaker 1: happens when this is open and available to three million
Speaker 1: checking accounts. I'm not going to tell you. I'll leave
Speaker 1: that rest up to your your own imagination, the visionary
Speaker 1: information imagination. Hopefully you have that. But that's big news
Speaker 1: in my opinion. Once people see that, it's going to
Speaker 1: change the perception. People realize it's not going to be banned,
Speaker 1: not not anymore. The e t F got approved, it's
Speaker 1: not gonna be banned. Um, it's easy and it's now safe. Now.
Speaker 1: Once it's easy and safe, you lose out on all
Speaker 1: that possibility, on all that upside. So you want to
Speaker 1: get in right now? All right now, I'm gonna come
Speaker 1: back and tell you the rest of this story because
Speaker 1: there's more. Um, you're listening to the Mark Mass Show.
Speaker 1: I'm talking about bitcoin, cryptocurrencies and this decentralized revolution. I
Speaker 1: want to tell you what is happening in the bank
Speaker 1: since this news came out. I'm gonna be right back
Speaker 1: with more. Don't go away, all right, welcome back. You
Speaker 1: are listening to the Mark Ma Show or I bring
Speaker 1: to you the latest information on the biggest opportunity you're
Speaker 1: ever going to have in your lifetime, and not just
Speaker 1: your lifetime. I'm talking about your parents lifetime, your kid's lifetime.
Speaker 1: I'm talking about generations. I'm talking about bitcoin, I'm talking
Speaker 1: about cryptocurrencies. I'm talking about the decentralized revolution that is
Speaker 1: happening right now and the way that you take advantage
Speaker 1: of the big opportunity to have the information that most
Speaker 1: people don't have. I don't know yet and that's why
Speaker 1: I'm bringing it to you now. Uh, if you just
Speaker 1: join an in, you missed out on a lot, so
Speaker 1: pull at your phone, put a calendar reminder right now
Speaker 1: to be back on this channel at this time next
Speaker 1: week because I'll bring back the information. But just to
Speaker 1: catch you up super super quick. Sorry if you've been listening,
Speaker 1: but basically ignore the price that we hit an all
Speaker 1: new all time high. We crashed down a little bit
Speaker 1: to ignore the price. Look at two things, both growth
Speaker 1: of the network and innovation happened on the network. Um
Speaker 1: News has been developing for about the last five months
Speaker 1: that UM million and checking accounts, we're gonna have the
Speaker 1: ability to buy, selling, and store bitcoin directly in their
Speaker 1: checking account And this week f d i C Insurance
Speaker 1: announced that they are looking for ways to provide insurance
Speaker 1: to the bitcoin in checking accounts. I believe that that
Speaker 1: is going to create an explosion of people buying it,
Speaker 1: which could push the price higher. But you have the
Speaker 1: information to get in front of that now before those
Speaker 1: three and a million people join. But it's even bigger
Speaker 1: than that, so you're caught up. So of course, um,
Speaker 1: as that came out, it was it was big news, right,
Speaker 1: but it's even bigger than that because I was kind
Speaker 1: of focusing on the retail side now as I proposed
Speaker 1: the question earlier, UM, do you think there would be
Speaker 1: more people only a bigcoin or less if they logged
Speaker 1: into their banks so they could buy it, and was
Speaker 1: fd i C injured three and a million people? Would
Speaker 1: there be more or less? Of course, dans would be more.
Speaker 1: And if three and a million people bought or more
Speaker 1: people bought with the price up or down, well, of
Speaker 1: course the price will go up. So wouldn't it make
Speaker 1: sense to get in in front of those people. Now
Speaker 1: I'm asking you to think about this for yourself. I'm
Speaker 1: definitely not giving you financial advice. I'm not telling you
Speaker 1: the answer. I'm posing questions you should ask yourself. But
Speaker 1: it's even bigger than that, because we're talking about retail
Speaker 1: and like at the end of the day, I mean
Speaker 1: three and a million customers. That's a lot of money.
Speaker 1: But what are you gonna buy five bucks, a thousand bucks? Oh,
Speaker 1: you're a ball, are going to buy a thousand bucks,
Speaker 1: a hundred thousand bucks, a million in box? What about
Speaker 1: the banks themselves? We're talking about hundreds of billions of dollars,
Speaker 1: So what about the banks themselves? Well, in that news
Speaker 1: that broke, we found out that, um, traditional banks are
Speaker 1: gonna be able to hold bitcoin, not just me and you.
Speaker 1: Not not just meaning with our thousand dollars or hundred
Speaker 1: thousand dollars or million dollars I'm talking about. Banks can
Speaker 1: hold the asset for themselves, they can use it as
Speaker 1: collateral for lending, or they can just keep it on
Speaker 1: their balance sheets. So banks are required by the Federal
Speaker 1: reserved by law to hold reserves. Of course, right you
Speaker 1: deposit your money in the banks they have to hold
Speaker 1: assets on their books in case you want your money back,
Speaker 1: they have to give your money back. Obviously, right now
Speaker 1: you might be surprised. I hate to break it to you,
Speaker 1: but there's something called fractional reserve banking, and what that
Speaker 1: means is that when you deposit your money in the bank,
Speaker 1: the bank doesn't actually keep that They keep a fraction
Speaker 1: a fraction of that money and they blown out the
Speaker 1: rest very risky. That's why back in two Great Financial Crash,
Speaker 1: the global financial system crashed down because the banks didn't
Speaker 1: have enough reserves and when it came time to pay
Speaker 1: their bills, they didn't have the money because all their
Speaker 1: money was risked out in investments and assets and things
Speaker 1: like that. So um, now today they've had to increase
Speaker 1: the reserve requirements of those banks, I think, from like
Speaker 1: five percent up. So they're sitting on a bunch of
Speaker 1: cash reserves, but they also where's the rest of the money, well,
Speaker 1: the rest of the moneys and other assets. So now
Speaker 1: these banks that have hundreds and hundreds of billions of
Speaker 1: dollars of assets can now hold bitcoin on the balance
Speaker 1: shot they're not allowed to before. Do you think a
Speaker 1: couple of might Michael Sailor, the CEO of micro Strategy,
Speaker 1: the first publicly traded company to buy bitcoin. They when
Speaker 1: you're a publicly traded company like micro Strategy, making hundreds
Speaker 1: of millions of dollars a year, you obviously keep money
Speaker 1: in your bank account, just like if you have a business,
Speaker 1: you keep money in your bank account obviously. Um, but
Speaker 1: when you're a big company, like like a publicly traded
Speaker 1: company or like Apple for example, you might have hundreds
Speaker 1: of billions of dollars sitting in a bank account. What
Speaker 1: do you do with that? I mean, it can't just
Speaker 1: sit at well as wargo, So you have to actively
Speaker 1: manage that money. So micro Strategy said, hey, we're just
Speaker 1: gonna put it all into bitcoin. That's it all into bitcoin.
Speaker 1: And since they've done that, they've like tripled it. I
Speaker 1: didn't I didn't prepare before I jumped on, but I
Speaker 1: think they averaged in. They continue to buy each month,
Speaker 1: and they announced it publicly. But they bought in like
Speaker 1: half a billion dollars when it was like I want
Speaker 1: to say, like ten thousand dollars, and now it's at
Speaker 1: sixty dollars. That's like half a billion dollars times six.
Speaker 1: So don't you think a bunch of other financial institutions
Speaker 1: saw that and saw micro strategy, rushed them on returns
Speaker 1: and they want a piece of that. Well now they can.
Speaker 1: Now they can hold that on there and I think
Speaker 1: they will. Um what they can do now if you
Speaker 1: understand how this works, this is the good part. Well,
Speaker 1: it's the bad part and it's the good part. It's
Speaker 1: the bad part because the banking system is corrupt and
Speaker 1: it needs to be ended and we won't need to
Speaker 1: burn it all down, and that's what bitcoin is here for.
Speaker 1: But in terms of bitcoin, it's kind of good because
Speaker 1: the banks basically get free money from the Federal Reserve.
Speaker 1: The Federal Reserve creates So the way if you don't know,
Speaker 1: by the way, you're listening to the Markmas show talking
Speaker 1: about bitcoin, cryptocurrency and the decentralized revolution, if you don't
Speaker 1: know how money is made, um, we talked about being printed.
Speaker 1: What happens is the central bank, the Federal Reserve, creates reserves.
Speaker 1: They put reserves onto the commercial banks, and then the
Speaker 1: commercial banks create the money into existence by loaning it out.
Speaker 1: So when you get an auto loan, a house loan,
Speaker 1: a boat loan, r V loan except ura they literally
Speaker 1: create that money. So the Federal Reserve gives them reserves.
Speaker 1: So the banks are basically getting free reserves and it's
Speaker 1: sitting there on their books. They get it for zero percent,
Speaker 1: and now they can go buy all the bitcoin they want. Now,
Speaker 1: if someone gave you a hundred billion dollars with zero
Speaker 1: percent interest, do you think you might go buy a
Speaker 1: little bit of bitcoin. I think you would. And now
Speaker 1: the banks can do that um And so I think
Speaker 1: that's going to be massive. Like I said, you know
Speaker 1: three people like us, like me and you retail investors.
Speaker 1: That's gonna be great for us. We're gonna go buy it.
Speaker 1: That's cool. But what about when hundreds of billions of
Speaker 1: dollars start going into the system. And that's exactly what
Speaker 1: I think is going to happen. I think that's how
Speaker 1: big it's going to go. We're already seeing it happening
Speaker 1: with some of the other smaller banks. We're seeing some
Speaker 1: of these UM, you know, kind of more crypto focused institutions.
Speaker 1: I'm starting to do this as well, UM starting to
Speaker 1: take their reserve and put it into bitcoin, and they
Speaker 1: are crushing the market. And what happens is you know,
Speaker 1: if you're a hedge fund, institution, bank, etcetera, you're competing
Speaker 1: against the other ones, right, And so what happens is
Speaker 1: if if another bank, another hedge fund, another institution puts
Speaker 1: gold or puts bitcoin on their books and then outperforms me,
Speaker 1: will shoot then I have to do the same thing, right,
Speaker 1: So then I go by it. And when I go
Speaker 1: by it supply demand. It pushes the price up, which
Speaker 1: then means I outperform everybody else, which then means other
Speaker 1: people have to get on when they go by, which
Speaker 1: pushes the price of even more, which means other people
Speaker 1: have to jump on, and it creates this self fulfilling prophecy.
Speaker 1: I think you can understand that supply demand, right, So
Speaker 1: that's exactly what happening. That is the biggest news of
Speaker 1: the week. Like I said, when they announced this back
Speaker 1: in May May five, I think it was May one,
Speaker 1: you had the chance to buy bitcoin at thirty thousand.
Speaker 1: Today it's a six. It's doubled um. I think this
Speaker 1: news could push it up way more than that. Now, again,
Speaker 1: this is not financial advice. I'm asking you questions. I'm
Speaker 1: hoping that you can answer them for yourselves. But if
Speaker 1: you had it, if you had a time machine and
Speaker 1: you could go back in time to May when they
Speaker 1: first announced they were actually going to bring this to
Speaker 1: the banks. Um, if you have times, you can go
Speaker 1: back there to do whatever. Would you have bought bitcoin
Speaker 1: at thirty knows say? I think the answer is, of
Speaker 1: course yes. And so today another piece of news just
Speaker 1: broke that I think is even bigger, and that's the
Speaker 1: fd i C piece. And so you have another choice
Speaker 1: to make, And I'm not gonna tell you what that
Speaker 1: choice should because again this is a financial information. I
Speaker 1: want to let you decide for yourself. UM. I learned
Speaker 1: my dad used to repeat to me over and over.
Speaker 1: He said, you know, once is an accident. Once it's
Speaker 1: an accident. He said, twice is stupid. So I just
Speaker 1: try not to make the same mistakes twice. UM, if
Speaker 1: I would go back and do something different than I
Speaker 1: would try to do not make that same mistake again today.
Speaker 1: By the way, you're listening to the Mark My show,
Speaker 1: I'm talking about big when I'm talking about cryptocurrencies, I'm
Speaker 1: talking about the decentralized revolution. I'm trying to bring you.
Speaker 1: I'm not trying I am bringing you the latest information
Speaker 1: that you need every single week to take advantage of
Speaker 1: this asymmetric opportunity that's in front of you, the biggest
Speaker 1: opportunity that you will ever have in your lifetime, that
Speaker 1: generations will see, Your grandkids will thank you for listening
Speaker 1: to this show. You're listening to the Mark Mos Show.
Speaker 1: Thank you,