WEBVTT - The Mark Moss Show Feb 14, 2022 0:00:00.080 --> 0:00:02.520 Hey, everyone, Welcome to another episode of the Mark Moa 0:00:02.640 --> 0:00:04.680 Show where we talk about bitcoin and we talked about 0:00:04.680 --> 0:00:08.240 the decentralized revolution that's happening, and we talk about everything 0:00:08.280 --> 0:00:11.239 that's going on around it so you can understand what 0:00:11.520 --> 0:00:15.000 is going on. We look at things from the financial aspect, 0:00:15.040 --> 0:00:18.439 the political aspect, the technology aspect, because you really have 0:00:18.520 --> 0:00:21.439 to get about six, seven, maybe eight different disciplines to 0:00:21.520 --> 0:00:24.880 kind of get what's going on now. It's moving fast. 0:00:24.920 --> 0:00:26.239 There's a lot of things going on. I try to 0:00:26.280 --> 0:00:29.520 bring you the best education, up to the minute, latest 0:00:29.560 --> 0:00:31.400 breaking news so you can always know what's going on, 0:00:31.440 --> 0:00:33.360 and of course sound like the smartest guy at the 0:00:33.360 --> 0:00:35.920 party this weekend. And of course I try to bring 0:00:35.920 --> 0:00:38.239 you new and interesting people to listen to on a 0:00:38.280 --> 0:00:40.760 regular basis so you can get some different perspectives than 0:00:40.840 --> 0:00:43.479 just from myself. Of course, I have some people that 0:00:43.520 --> 0:00:45.400 I'm bringing on this week that you definitely want to 0:00:45.400 --> 0:00:48.160 hear from. But some of the breaking news, like I said, 0:00:48.159 --> 0:00:51.159 things happen so fast. Um, some big stories I want 0:00:51.159 --> 0:00:55.040 to go through this week are one, you've probably heard 0:00:55.080 --> 0:00:58.680 that the US government seized some bitcoin. I don't know 0:00:58.720 --> 0:01:01.040 if you heard that or not. Now How did that happen? Mark, 0:01:01.120 --> 0:01:03.920 Because I thought bitcoin of censorship resistant. How do the 0:01:03.920 --> 0:01:07.040 government sees it? Well? I want to explain how that happened. 0:01:07.080 --> 0:01:09.560 I want to explain what the learning lesson is for 0:01:09.680 --> 0:01:12.200 us in this UM And there's a lot of interesting 0:01:12.240 --> 0:01:15.600 pieces in this. I want to talk about UM, the 0:01:15.680 --> 0:01:20.480 largest asset manager in the world in the world is 0:01:20.480 --> 0:01:25.200 now offering cryptocurrency services. I want to talk about something's 0:01:25.200 --> 0:01:28.679 happening inside the government. How UM they are UM changing 0:01:28.720 --> 0:01:31.880 the way they look at people that want to peacefully assemble. 0:01:32.240 --> 0:01:35.399 I want to look at one of the largest commercial 0:01:35.440 --> 0:01:37.119 banks in the world, actually a bank that I bank 0:01:37.160 --> 0:01:40.160 with UM has said that we are about to enter 0:01:40.240 --> 0:01:42.520 a hyper adoption of bitcoin. Who is that bank and 0:01:42.560 --> 0:01:44.280 what are they talking about? And I want to look 0:01:44.319 --> 0:01:46.119 at the price of bitcoin real quick. That's a pretty 0:01:46.160 --> 0:01:48.360 ambitious schedule to cover. So let's see if we can 0:01:48.360 --> 0:01:50.560 get through all of that for you. By the way, 0:01:50.680 --> 0:01:52.360 like I said, you're listening to the markma Show where 0:01:52.360 --> 0:01:55.800 we talk about bitcoin and the decentralized revolution that's happening. 0:01:56.160 --> 0:01:58.680 You know, I don't cover the price a whole lot UM. 0:01:58.720 --> 0:02:00.720 I do typically say that I think the price is 0:02:00.760 --> 0:02:03.840 the least interesting thing that's going on. And the reason 0:02:03.880 --> 0:02:05.920 why I say it's the least interesting thing going on 0:02:06.080 --> 0:02:08.720 is because, um it is. I mean, we're talking about 0:02:08.720 --> 0:02:12.600 a brand new technology that is changing the way the 0:02:12.639 --> 0:02:16.120 world works, and for the better. I mean for the better. 0:02:16.240 --> 0:02:18.440 It is changing the world for the better. Anybody who 0:02:18.440 --> 0:02:21.680 comes into bitcoin, it just it gives them long term perspective. 0:02:21.919 --> 0:02:26.639 They start to see new solutions to old problems. Um everyone, 0:02:26.680 --> 0:02:29.200 I've seen It's completely changed your lives and so and 0:02:29.360 --> 0:02:31.799 and not just from a monetary standpoint. It is such 0:02:31.840 --> 0:02:35.040 a new technology that's going to benefit all of humanity. 0:02:35.080 --> 0:02:36.919 That's why I'm so bullish on it. And so when 0:02:36.960 --> 0:02:39.960 you have something that big, of course, the daily price 0:02:40.040 --> 0:02:43.720 movement is somewhat um boring, I guess I should say. 0:02:43.760 --> 0:02:45.440 And the other thing that I say pretty often if 0:02:45.440 --> 0:02:47.000 you tune to my show on a regular basis, is 0:02:47.040 --> 0:02:49.959 that when you're looking at a new technology, you don't 0:02:49.960 --> 0:02:51.880 want to look at the price. The price is volatile. 0:02:52.040 --> 0:02:53.679 So what you really want to look at is two things. 0:02:53.760 --> 0:02:57.760 The one that developed, the development happening on the network, 0:02:58.200 --> 0:03:00.280 and to the growth of the network or more people 0:03:00.360 --> 0:03:03.000 using them. But I call the price a bait and switch. 0:03:03.200 --> 0:03:05.240 Most people come in for the price, they hope to 0:03:05.240 --> 0:03:07.720 make money, they hope to get rich, and then they 0:03:07.720 --> 0:03:10.480 get switched into some of the other properties for bitcoin. 0:03:10.560 --> 0:03:12.760 So anyway, talking about the price today, it is a 0:03:12.800 --> 0:03:14.400 little bit of good news if you're focused on the 0:03:14.400 --> 0:03:17.160 short term price, which I am not. If you're aware 0:03:17.280 --> 0:03:20.240 or you're just kind of tuning in. Bitcoin did recently 0:03:20.360 --> 0:03:23.799 crashed all the way down from its high of about 0:03:23.840 --> 0:03:26.520 sixty nine thousand, and it went all the way to 0:03:26.760 --> 0:03:30.880 about thirty three thousand dollars, a crash of about fifty two. 0:03:31.880 --> 0:03:33.760 It didn't stick there long. That was just a quick 0:03:33.840 --> 0:03:37.880 daily fat flash crash. Um it quickly kind of regained ground, 0:03:37.920 --> 0:03:40.760 and it's sad about forty five down from its high 0:03:40.800 --> 0:03:44.640 at about in the thirty five ish range. And um, 0:03:44.720 --> 0:03:46.720 just over the last couple of days it has gone 0:03:46.800 --> 0:03:50.680 on a tear, going from about thirty five thousand all 0:03:50.720 --> 0:03:54.400 the way up to in the forty five thousand ish range. 0:03:54.520 --> 0:03:57.800 Ten thousand dollar swing, which is no small swing at 0:03:57.840 --> 0:04:00.120 all for a bitcoin. As a matter of fact, a 0:04:00.280 --> 0:04:06.000 single day it moved up about about twelve a few 0:04:06.000 --> 0:04:08.720 thousand dollars in a single day, and that's one of 0:04:08.720 --> 0:04:10.640 the reasons why you don't want to try to trade 0:04:10.680 --> 0:04:12.960 bitcoin in and out of bitcoin because it does move 0:04:13.040 --> 0:04:15.960 so volatile like this, and so you know, if you 0:04:16.040 --> 0:04:18.040 were like, I'm gonna sell at the top and I'm 0:04:18.080 --> 0:04:21.359 gonna buy back in at a lower price, how do 0:04:21.400 --> 0:04:23.719 you know when it's a lower price. How do you 0:04:23.760 --> 0:04:25.960 know when to buy back in? You know what happens 0:04:26.000 --> 0:04:28.840 is you only know the top or the bottom when 0:04:28.880 --> 0:04:31.600 you're looking backwards at it, and so when you're living 0:04:31.600 --> 0:04:33.000 through it, you don't know. And what happens is let's 0:04:33.000 --> 0:04:35.159 say you're on the sideline waiting for this move and 0:04:35.200 --> 0:04:37.640 you were gonna buy cheaper, but then all of a sudden, 0:04:37.680 --> 0:04:40.800 it moves up ten tho dollars in a single day, 0:04:41.920 --> 0:04:43.680 and you missed out. Now I haven't done the math. 0:04:43.920 --> 0:04:45.400 Maybe at some point I will for bitcoin, but I 0:04:45.400 --> 0:04:47.680 can tell you with stocks that you know, over the 0:04:47.760 --> 0:04:51.320 last day, um over the last fifty years, it's averaged 0:04:51.320 --> 0:04:53.360 about an eight percent return. But if you would have 0:04:53.440 --> 0:04:56.560 missed the best thirty days of trading in the stock market, 0:04:56.720 --> 0:04:59.400 your returns go from eight percent to like two percent approximately. 0:04:59.400 --> 0:05:00.680 I don't know how a date off the top of 0:05:00.680 --> 0:05:03.360 my head if you missed the best um like twenty 0:05:03.440 --> 0:05:06.040 days in trading, then you're basically make no money. And 0:05:06.040 --> 0:05:08.200 you've missed the best like thirty days out of whatever 0:05:08.240 --> 0:05:11.400 fifty years, you made no money in the stock market, 0:05:11.800 --> 0:05:14.160 and so um they say in the stock market, it's 0:05:14.160 --> 0:05:17.359 not timing the market, but time in the market. And 0:05:17.360 --> 0:05:19.359 bitcoin is kind of the same way, because if you 0:05:19.440 --> 0:05:22.720 missed out on a ten thousand dollar swing day, like 0:05:22.839 --> 0:05:25.240 that's really gonna hurt you. And so what I do 0:05:25.279 --> 0:05:27.840 is I just zoom out. I keep a long term 0:05:27.880 --> 0:05:30.719 perspective and I don't try to trade these dips. And 0:05:30.760 --> 0:05:32.200 for perspective, what I do is I look at the 0:05:32.200 --> 0:05:35.000 way that the low the lows have been going higher 0:05:35.000 --> 0:05:39.760 and higher and higher. So for example, if I go back, um, 0:05:39.839 --> 0:05:42.120 you know, two years ago, I can see that the 0:05:42.120 --> 0:05:45.599 price of bitcoin was only twenty thousand, and then it 0:05:45.600 --> 0:05:47.880 did get up to sixty five thousand a consoliday at thirty, 0:05:47.920 --> 0:05:51.240 So from twenty to sixty five, but then to thirty, 0:05:51.360 --> 0:05:54.320 and then from thirty to sixty nine and forty five. 0:05:54.760 --> 0:05:56.480 And so instead of looking at where it came from 0:05:56.520 --> 0:05:58.240 the sixty five, I look at it where it came 0:05:58.240 --> 0:06:01.120 from the twenty and the thirty. So from twenty to thirty, 0:06:02.200 --> 0:06:04.120 that's pretty good progress for me and I like that. 0:06:04.560 --> 0:06:06.440 So that's where the price. It is nice to see 0:06:06.440 --> 0:06:08.680 it coming back up. Now why why is it coming 0:06:08.720 --> 0:06:11.240 back up? Well, a couple of things. UM, you want 0:06:11.240 --> 0:06:14.240 to understand what drives the price. That I said, right, 0:06:14.400 --> 0:06:17.960 it's adoption and development, So a couple of big developments 0:06:17.960 --> 0:06:21.520 and adoptions things that are happening. UM. The first thing 0:06:21.600 --> 0:06:24.560 that I would say is that, UM, I talked about 0:06:24.600 --> 0:06:26.279 a little bit last week. If you're with me, I 0:06:26.320 --> 0:06:31.720 talked about the trucker convoy going on in Canada, and UM, 0:06:31.760 --> 0:06:34.360 I think we talked about last week how um the 0:06:34.400 --> 0:06:36.719 trucker convoy had raised about ten million dollars on go 0:06:36.800 --> 0:06:40.320 fund me, and then go fund me basically stole the 0:06:40.360 --> 0:06:44.520 money and with a massive amount of backlash that had happened. 0:06:44.520 --> 0:06:45.960 I don't think we covered this last week. I hadn't 0:06:45.960 --> 0:06:48.880 happened yet, but the massive amount of backlash, UM go 0:06:48.960 --> 0:06:51.280 fund me said all right, all right, we'll we'll return 0:06:51.360 --> 0:06:54.080 the money if you would fill out this form. You 0:06:54.160 --> 0:06:56.400 have to filt this form by a certain date. And 0:06:56.440 --> 0:06:59.320 then a lot more backlash happened where people were saying, no, 0:06:59.480 --> 0:07:01.479 just charge back your credit cards and hid them with fees. 0:07:01.520 --> 0:07:02.960 And I think a lot of people probably did that. 0:07:03.240 --> 0:07:05.119 So then and then, and then you had a Governor 0:07:05.120 --> 0:07:08.000 Abbott from Texas and governed to Santis from Florida said 0:07:08.040 --> 0:07:10.800 that they were going to um bring legal charges against 0:07:10.840 --> 0:07:14.560 go fund me for stealing their residents money. And uh, 0:07:14.720 --> 0:07:16.680 a combination of that and the heat that go fund 0:07:16.720 --> 0:07:18.920 me took, they quickly reverse courses that they would just 0:07:18.920 --> 0:07:21.360 go ahead and refund everybody's money. But the key piece 0:07:21.400 --> 0:07:26.000 to this is that the governments of Canada trying to 0:07:26.000 --> 0:07:27.760 seize the money, the state of Autawa try to seize 0:07:27.760 --> 0:07:30.280 the money, and then go fund me. It did an 0:07:30.400 --> 0:07:35.559 enormous amount of marketing for bitcoin. Now all these people 0:07:35.560 --> 0:07:39.520 that are watching what's going on realized just how centrally 0:07:39.560 --> 0:07:43.480 controlled the monetary supply is. You mean my money that 0:07:43.600 --> 0:07:46.800 I have expended my own energy. I've expended my life's 0:07:46.880 --> 0:07:49.720 energy for two and I stored it in this form 0:07:49.760 --> 0:07:51.360 of money that I could use at a later day 0:07:51.400 --> 0:07:53.760 in time. You mean I don't have a right to 0:07:53.880 --> 0:07:56.520 use that money as I see fit. You mean if 0:07:56.600 --> 0:07:58.680 I want to use it to give some money to 0:07:58.760 --> 0:08:01.520 these peaceful pro testers to give them some gas or 0:08:01.560 --> 0:08:03.760 some food or a blanket or whatever. I can't. I 0:08:03.800 --> 0:08:05.680 don't have the right to do that. And the state 0:08:05.720 --> 0:08:08.520 can just seize my money. And I didn't know they 0:08:08.520 --> 0:08:10.360 could do that. I didn't know they would do that. 0:08:11.400 --> 0:08:14.000 Oh and and now there's bitcoin over here. That means 0:08:14.000 --> 0:08:17.920 that they can't do that. Um, maybe I should check 0:08:17.920 --> 0:08:22.200 out bitcoin. And so bitcoin has been on the world stage. 0:08:22.520 --> 0:08:26.480 The government of Canada the trucker protests. Go fund me 0:08:26.560 --> 0:08:28.840 are doing marketing for bitcoin, which is important because go 0:08:28.920 --> 0:08:30.800 fund me is a is a company and they have 0:08:30.800 --> 0:08:33.920 a marketing budget. Bitcoin is not a company. There is 0:08:33.960 --> 0:08:37.559 no marketing budget, there is no marketing department. And uh, 0:08:37.640 --> 0:08:40.280 we're lucky to have the country of Canada and go 0:08:40.360 --> 0:08:42.480 fund me doing bitcoins marketing for us. Maybe one of 0:08:42.480 --> 0:08:44.960 the reasons why we've seen the price pump. You're listening 0:08:44.960 --> 0:08:47.320 to the Markma Show. We're talking about the latest breaking 0:08:47.360 --> 0:08:50.640 news that is going on right now, and I'm talking 0:08:50.679 --> 0:08:54.120 about the latest breaking news this week because each and 0:08:54.120 --> 0:08:56.040 every week there is a lot going on. It's moving 0:08:56.160 --> 0:08:58.600 super fast and you need to be up to date 0:08:58.600 --> 0:09:01.120 on what's happening. Now. I to talk about why things 0:09:01.160 --> 0:09:03.840 are happening, things like that. One interesting story that I 0:09:03.840 --> 0:09:07.400 saw here today which was pretty amazing, And you maybe 0:09:07.480 --> 0:09:13.600 weren't aware of this, but you know that politicians and uh, 0:09:13.679 --> 0:09:15.679 you know people at the Central Bank that create all 0:09:15.679 --> 0:09:19.559 the money, they probably have an unfair advantage of information 0:09:19.640 --> 0:09:22.560 that they have. And uh, did you know that you, 0:09:22.760 --> 0:09:25.880 as a private citizen, you're not allowed to invest on 0:09:25.920 --> 0:09:28.320 what they call insider trading, So like, if you have 0:09:28.400 --> 0:09:30.880 something like information that most people don't have and you 0:09:30.920 --> 0:09:32.640 act on that and you make money with that, it's 0:09:32.679 --> 0:09:38.880 actually illegal. And actually, Martha Stewart everybody's a favorite grandmother 0:09:38.960 --> 0:09:41.360 working from her house or whatever, she famously went to 0:09:41.440 --> 0:09:45.600 prison for doing what's called insider trading because it's highly 0:09:45.640 --> 0:09:47.760 illegal for me and you to participate in that. But 0:09:47.840 --> 0:09:50.800 did you know that it's not illegal for the politicians 0:09:50.800 --> 0:09:55.880 to do it? Specifically not illegal. So Nancy Pelosi as 0:09:55.960 --> 0:09:58.120 one of the best investors in the world today. As 0:09:58.120 --> 0:10:02.120 a matter of fact, Nancy Pelosi beat almost every single 0:10:02.360 --> 0:10:06.559 hedge fund, every single fund manager except for like one 0:10:06.640 --> 0:10:09.920 or two last year, and she wasn't even the top one. 0:10:09.920 --> 0:10:11.560 I think she was like ranked fifth or sixth in 0:10:11.559 --> 0:10:14.280 that order. Um. Other politicians did even better. And it's 0:10:14.280 --> 0:10:17.440 not just the politicians, the congressman, the senators, it's the 0:10:17.520 --> 0:10:21.120 central bankers. Now, a while back, there was a story 0:10:21.360 --> 0:10:24.199 and I didn't really cover it much, but we found 0:10:24.200 --> 0:10:29.120 out that FED officials were doing insider trading. They were 0:10:29.160 --> 0:10:32.080 trading on what they call pandemic trade. So at the 0:10:32.080 --> 0:10:35.600 time the pandemic was happening, UM, the entire economy crashed, 0:10:35.760 --> 0:10:39.280 the stock market crashed, and then as the pandemic recovered, 0:10:39.320 --> 0:10:42.800 certain stocks did better than others the pandemic trades, and 0:10:42.840 --> 0:10:47.560 there was some FED insiders that traded that and made 0:10:47.600 --> 0:10:50.560 a bunch of money. And a matter of fact, three 0:10:50.880 --> 0:10:53.720 UM FED officials I believe lost their jobs, the Dallas 0:10:53.760 --> 0:10:56.400 and the Boston FED presidents as well as the vice 0:10:56.480 --> 0:11:01.760 chair Clarita and Um. You know, nobody really cares. Nobody's 0:11:01.760 --> 0:11:04.640 really looking into it, UM, but some people are. Some 0:11:04.640 --> 0:11:06.840 people aren't okay with that. I mean, I'm not personal 0:11:06.880 --> 0:11:08.840 okay with that. I mean I could go to prison 0:11:09.000 --> 0:11:11.800 if I traded like Martha Stewart on information I had. 0:11:11.840 --> 0:11:14.960 But they're the ones that actually make the policies and 0:11:15.040 --> 0:11:18.439 pump the money into the system. But they can it 0:11:18.480 --> 0:11:20.800 seems pretty messed up. I don't think people should be 0:11:20.840 --> 0:11:23.880 okay with that. And so Reuters, the news organization which 0:11:23.880 --> 0:11:26.079 doesn't always seek the truth in my opinion, But they 0:11:26.080 --> 0:11:28.960 went out and they filed a freedom of information Act. 0:11:29.000 --> 0:11:32.600 It's called a FOIA request fo I A, and they 0:11:32.640 --> 0:11:35.560 did a freedom of information Act and they want UM 0:11:35.600 --> 0:11:37.840 and they wanted to get information on what exactly was 0:11:37.880 --> 0:11:41.439 going on here. The FED said that there's about sixty 0:11:41.559 --> 0:11:46.880 pages of correspondence UM in the in these financial transactions 0:11:46.880 --> 0:11:50.839 that were conducted during the pandemic that they don't want 0:11:50.840 --> 0:11:53.319 to release. They don't want to release. It's a sore 0:11:53.360 --> 0:11:55.160 spot for the FED. They obviously know what's in there, 0:11:55.760 --> 0:11:59.319 and members of Congress are demanding full transparency as to 0:11:59.440 --> 0:12:02.160 who knew what was going on, who did what, when 0:12:02.200 --> 0:12:04.760 did they do it, and so forth. But the problem 0:12:04.880 --> 0:12:08.240 is that nobody is allowed to see them, as the 0:12:08.240 --> 0:12:12.880 FED quote unquote denied in full the release of documents. 0:12:13.559 --> 0:12:18.520 Mm hmm. That doesn't seem right, does it now. I 0:12:19.480 --> 0:12:21.960 might be old fashioned here, but it seems like the 0:12:22.000 --> 0:12:27.400 best way to build trust is with transparency, not lying 0:12:27.480 --> 0:12:30.360 and deliberately hiding stuff. So if my business partner if 0:12:30.400 --> 0:12:32.040 I don't have a business partner, but if I did, 0:12:32.440 --> 0:12:34.080 or if I had, you know, your wife, your girlfriend's 0:12:34.080 --> 0:12:36.320 tegnam for the other somebody important to you. If I 0:12:36.360 --> 0:12:38.439 had a business partner and I said, say, I suspected 0:12:38.440 --> 0:12:41.400 them of embezzling from me, and I said, hey, partner, um, 0:12:41.480 --> 0:12:43.040 you know, could we sit down and just look at 0:12:43.040 --> 0:12:44.920 the books and talk about a couple of transactions. I 0:12:44.920 --> 0:12:48.400 have curious you know, I'm curious him if he said, oh, no, no, no, 0:12:48.480 --> 0:12:50.280 we can't. You shouldn't be looking at that and then 0:12:50.280 --> 0:12:52.640 they went deleted a bunch of stuff, like, wouldn't that 0:12:52.760 --> 0:12:56.320 just kind of confirm my suspicion Versus if he said, oh, yeah, 0:12:56.360 --> 0:12:57.720 for sure, let's open up the books. Here you go, 0:12:57.760 --> 0:12:59.520 Oh these transactions, this is what it was like. Full 0:12:59.520 --> 0:13:04.559 transpar arrancy could bring trust back. So when we already 0:13:04.600 --> 0:13:07.160 are unhappy that that Martha Stewart went to prison, I 0:13:07.160 --> 0:13:09.040 can go to I can go to prison. But these 0:13:09.080 --> 0:13:11.560 insiders are legally able to do that. And then the 0:13:11.600 --> 0:13:14.600 Federal Reserve who put the money in, are able to 0:13:14.640 --> 0:13:18.079 do this. And then through a Freedom of Information Act request, 0:13:18.559 --> 0:13:23.319 the FED quote unquote denied in full the release of documents. 0:13:23.800 --> 0:13:27.240 M hmm. That doesn't really breed a lot of trust 0:13:27.600 --> 0:13:30.439 for me and confidence. Now I bring this up on 0:13:30.480 --> 0:13:36.320 a bitcoin show because bitcoin is open borderless trust list. 0:13:36.400 --> 0:13:38.600 What does that mean? Trust less? So I have to 0:13:38.720 --> 0:13:42.520 trust the Federal Reserve didn't do something shady, But how 0:13:42.559 --> 0:13:45.000 can I trust them when they're hiding everything from a delivery? 0:13:45.000 --> 0:13:47.000 I don't know how much money they made. I don't 0:13:47.000 --> 0:13:48.719 know where they put that money. I don't know how 0:13:48.720 --> 0:13:50.520 they decided how much money to Pranto were to put 0:13:50.600 --> 0:13:53.040 the money. Nor do I know how they use that 0:13:53.080 --> 0:13:55.480 information to enrich themselves. I don't know anything. I have 0:13:55.559 --> 0:13:58.440 to trust them, but how can I trust them when 0:13:58.480 --> 0:14:01.440 they're breaking me? Bitcoin is ust lists. That means I 0:14:01.440 --> 0:14:04.120 don't have to trust bitcoin because bitcoin is an open 0:14:04.200 --> 0:14:07.560 source network one I know that unlike the FED, nobody 0:14:07.600 --> 0:14:10.320 can create more Bitcoin like the FED creates more dollars too. 0:14:10.880 --> 0:14:13.719 It's completely open and transparent. I can see all the 0:14:13.760 --> 0:14:15.320 bitcoin all the time. I don't have to trust. I 0:14:15.360 --> 0:14:20.120 can verify UM and on top of that UM, because 0:14:20.120 --> 0:14:23.480 I can verify all the transactions, I again, I don't 0:14:23.520 --> 0:14:27.600 have to trust. Now they said uh, like I said, 0:14:27.640 --> 0:14:33.720 they denied in full but why Like traditionally, maybe they 0:14:33.760 --> 0:14:35.960 might have an exemption to the Freedom of Information Act 0:14:36.000 --> 0:14:38.360 the Foyer Request if it involved a matter that matter 0:14:38.400 --> 0:14:43.600 of national security. But how exactly would alleged I'm going 0:14:43.680 --> 0:14:46.840 to say that, alleged insider trading by a bunch of millionaires, 0:14:46.880 --> 0:14:50.200 how would that threaten the US democracy? Right? I mean, 0:14:50.280 --> 0:14:52.120 I would certainly like to understand that. I bet you 0:14:52.120 --> 0:14:55.240 would as well. But of course we don't know that. 0:14:56.240 --> 0:14:58.360 We don't know that at all. And um, the reason 0:14:58.400 --> 0:15:00.520 why I bring the story up is because it makes 0:15:00.520 --> 0:15:05.720 me mad. But it's in glaring contradiction to what bitcoin is. 0:15:06.120 --> 0:15:08.800 So we have you know, um of public officials like 0:15:08.840 --> 0:15:13.360 Elizabeth Warren out there saying, you know, bitcoin is used 0:15:13.440 --> 0:15:18.120 by bad people, Well, they probably shouldn't use bitcoin because 0:15:18.120 --> 0:15:21.720 bitcoin is open, it's transparent, and we can see who 0:15:21.760 --> 0:15:25.760 those bad people are, unlike the Federals are fiat money 0:15:25.760 --> 0:15:28.720 system like we have today, where these people get away 0:15:28.760 --> 0:15:32.720 with murder and literally enriched themselves to the tunes of 0:15:32.880 --> 0:15:36.920 trillions of dollars. Now, when I talk about bad people 0:15:37.000 --> 0:15:38.720 not being able to do that, it kind of brings 0:15:38.720 --> 0:15:40.560 me to the next story which I wanted to talk about, 0:15:40.600 --> 0:15:44.960 which was the US seized bitcoin. And they didn't just 0:15:44.960 --> 0:15:48.480 seize some bitcoin. They seized a lot of bitcoin. As 0:15:48.480 --> 0:15:51.640 a matter of fact, Um, it's been making a lot 0:15:51.680 --> 0:15:54.560 of news stories. It was a bit finex hack and 0:15:54.600 --> 0:15:58.480 it was about four point six billion with a B 0:15:58.640 --> 0:16:02.360 and that's right, four point six billion dollars of bitcoin 0:16:02.720 --> 0:16:05.360 that was stolen and the government seized it. But like 0:16:05.400 --> 0:16:07.000 I said earlier, like Mark, what do you mean they 0:16:07.040 --> 0:16:10.960 seized it? Because I thought bitcoin was censorship resistant? How 0:16:11.000 --> 0:16:13.040 could they seize it? Well, let's talk about that for 0:16:13.080 --> 0:16:15.040 a second, because it's it's important for you to understand 0:16:15.040 --> 0:16:17.640 how they seized it, because there's a learning lesson in 0:16:17.720 --> 0:16:20.440 here for you. How could you protect your money so 0:16:20.680 --> 0:16:22.200 nobody could steal it? And I'm not trying to say 0:16:22.240 --> 0:16:23.920 keep it from the government, but how could you keep 0:16:23.960 --> 0:16:26.720 it from anybody who wanted to steal it? And so 0:16:26.880 --> 0:16:31.800 the story is about this a couple who um, as 0:16:31.840 --> 0:16:34.400 I said, I took this money. It was from bitfoinix. 0:16:34.440 --> 0:16:39.040 So bitfoinix is a big cryptocurrency exchange and uh, apparently 0:16:39.040 --> 0:16:41.080 a couple of years ago, this couple of New York 0:16:41.080 --> 0:16:46.360 couple Eelid Dutch Litzenstein and Heather are Morgan had taken 0:16:46.400 --> 0:16:50.600 this money and they were attempting to launder clean up 0:16:50.600 --> 0:16:54.920 some bitcoin worth a staggering four point six billion dollars. 0:16:55.080 --> 0:16:57.080 Like I said, that was stolen from bit foinex back in. 0:16:57.760 --> 0:17:00.480 There's a lot to this story. I'm gonna unpack. Um, 0:17:00.520 --> 0:17:04.520 it's a fascinating story. These are some fascinating characters. Actually, UM, 0:17:04.560 --> 0:17:06.639 I'm gonna bring back more. I'm gonna come back more 0:17:06.640 --> 0:17:08.199 in a second with that story. You don't want to 0:17:08.200 --> 0:17:10.720 miss this. By the way, you're listening to the markmas Show. 0:17:10.720 --> 0:17:15.120 We're talking about bitcoin, the decentralized revolution. We're talking about 0:17:15.160 --> 0:17:17.399 how the government sees bitcoin and what you need to 0:17:17.400 --> 0:17:19.720 know about this so you can protect your bitcoin from 0:17:19.720 --> 0:17:22.400 being stolen. Um, it's a fascinating story. I'll be back 0:17:22.400 --> 0:17:24.680 with that more. Don't go away, all right, welcome back. 0:17:24.720 --> 0:17:26.520 You were listening to the Mark Moa Show and we're 0:17:26.520 --> 0:17:29.960 talking about bitcoin. We're talking about the decentralized revolution that 0:17:30.119 --> 0:17:33.760 is happening right now. We are witnessing now. Before the break, 0:17:33.800 --> 0:17:37.120 I started talking about, um, this bit the nexs hack 0:17:37.200 --> 0:17:39.440 that happened. As a matter of fact, the US government 0:17:39.520 --> 0:17:43.119 seized bitcoin about four point six billion with a B 0:17:43.280 --> 0:17:46.239 four point six billion dollars worth the bitcoin. I think 0:17:46.280 --> 0:17:49.479 it was about a hundred and ten hundred twenty thousand 0:17:49.520 --> 0:17:52.600 bitcoins something, Yeah, about about a hundred twenty thousand bitcoins, 0:17:52.600 --> 0:17:57.240 something massive like that, which uh shoots the United States 0:17:57.359 --> 0:18:00.840 up there in them the countries and private people that 0:18:00.840 --> 0:18:02.800 own bitcoin. As a matter of fact, they own more 0:18:02.840 --> 0:18:06.240 than uh Elon Musk and Tesla. So Ellen, I'm calling 0:18:06.280 --> 0:18:08.720 out calling you about right now, you should step it up. 0:18:09.280 --> 0:18:12.720 They're trying to arrival Michael Sailor and UH micro Strategy 0:18:12.720 --> 0:18:15.040 with how much bitcoin they have, So you guys need 0:18:15.080 --> 0:18:16.840 to step it up as well. But the US, the 0:18:16.920 --> 0:18:19.600 US owns is now a lot of bitcoin. But it's 0:18:19.600 --> 0:18:23.960 a it's a super interesting story. And this couple UH, 0:18:24.000 --> 0:18:27.600 like I said, Lichtenstein and Heather Morgan, I mean, there 0:18:27.640 --> 0:18:31.280 are some interesting characters. Heather Morgan has uh has quite 0:18:31.320 --> 0:18:34.480 a long history as a matter of fact. Um, they 0:18:34.520 --> 0:18:36.920 actually I think we're working with bitfin x to help 0:18:36.960 --> 0:18:39.959 them with some of their security. UM. I found this 0:18:40.080 --> 0:18:44.680 article of Heather Morgan from two thousand nineteen, and um, 0:18:44.680 --> 0:18:48.439 it's how to social engineer your way into anything. And 0:18:48.480 --> 0:18:50.480 so she talks about her she was going to doing 0:18:50.520 --> 0:18:53.679 these talks about social engineering and how it's the active 0:18:53.720 --> 0:18:58.800 manipulated into someone to giving you information to take an action. Um, 0:18:59.160 --> 0:19:03.520 she did it specific tritically in cybersecurity. Um she she 0:19:03.560 --> 0:19:07.320 said she used it here firsthand out Heathery Morgan social 0:19:07.359 --> 0:19:11.760 engineering into exclusive parties and expensive political fundraisers, infiltrated black 0:19:11.800 --> 0:19:14.600 markets around the world, and build relationships with celebrities and 0:19:14.680 --> 0:19:18.919 billionaire CEOs. You'll learn actionable tactics for event crashing, how 0:19:18.960 --> 0:19:21.760 to cold email even the most reclusive and high level 0:19:21.760 --> 0:19:23.879 people and get a response on what to do to 0:19:23.920 --> 0:19:27.240 get yourself out of a jam. So she was specifically 0:19:27.240 --> 0:19:29.800 good at cold email. But about the speaker, So this 0:19:29.840 --> 0:19:32.600 is in her own bio. She's a seal entrepreneur, a writer, 0:19:32.880 --> 0:19:36.119 and a rapper and a former economist who worked in 0:19:36.119 --> 0:19:40.240 emerging markets. She specially she's an economist specialized in game 0:19:40.280 --> 0:19:44.080 theory and in perfect information. Man, what a what A 0:19:44.640 --> 0:19:48.040 What an interesting resume. But she was a rapper and 0:19:48.040 --> 0:19:50.480 actually we have a clip of that. Let's check out 0:19:50.520 --> 0:19:52.520 this clip of her. I think it's pretty cool. There 0:19:52.520 --> 0:19:56.800 we go Turkish Martha start keep going up her spin 0:19:56.880 --> 0:20:03.200 dropping with her poppy from a rebellious showing turk conveyed 0:20:03.400 --> 0:20:07.320 with the burke showing off her inverse work. Don't she 0:20:07.480 --> 0:20:11.560 come a lord? So uh, I guess her rap career 0:20:11.640 --> 0:20:13.480 wasn't working out too well, so she had to go 0:20:13.560 --> 0:20:17.000