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Speaker 1: Hey, everyone, Welcome back to another episode of The Markma Show,

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Speaker 1: where we're talking about bitcoin each and every week. Of course,

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Speaker 1: we're talking about bitcoin, cryptocurrencies and the decentralized revolution that

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Speaker 1: we're living through that we're witnessing right now. It's pretty

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Speaker 1: exciting if you step back and just just admire that

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Speaker 1: we are literally witnessing history being written. We're seeing one

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Speaker 1: of the biggest technological revolutions that we will ever witness,

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Speaker 1: that we've ever witnessed. And like I said, a lot,

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Speaker 1: the future of humanity is going to be changed now.

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Speaker 1: I don't say that lightly. As a matter of fact,

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Speaker 1: I was just a guest on one of the biggest

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Speaker 1: bitcoin podcast in and out there. It's called What Bitcoin Did,

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Speaker 1: and I laid down a thesis in about two two

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Speaker 1: and a half hours, which is a lot more than

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Speaker 1: I can do with you on my radio here, and

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Speaker 1: I laid out what I'm calling is the battle for

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Speaker 1: the fate of humanity. Wow. That's pretty heavy, isn't it.

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Speaker 1: And I don't mean that in a hyperbole way. I

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Speaker 1: mean that legitimately. I think that's really where we're at,

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Speaker 1: and I think bitcoin is the tool that allows us

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Speaker 1: to win that battle. For the Fate of Humanity. Again,

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Speaker 1: it's a long interview. It's more than I can go

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Speaker 1: over here. But if you just do a quick Google

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Speaker 1: search mark Moss battle for the Fate of Humanity, what

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Speaker 1: Bitcoin did, you will find that interview. But I'm trying

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Speaker 1: to fill you in bit by bit each and every week.

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Speaker 1: I want this to be the most important, the most

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Speaker 1: profitable point of your week. So make sure to uh

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Speaker 1: set I ever set a calendar reminder on your phone

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Speaker 1: right now for this channel this time, and join me. Now.

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Speaker 1: After I just tell you how big that is, then

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Speaker 1: I'm gonna go backwards a little bit and I'm gonna

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Speaker 1: tell you about the price. Now. I say that reluctantly

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Speaker 1: because I do believe the price is a short term distraction.

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Speaker 1: The price is a short term distraction. I think it's

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Speaker 1: also what I call the bait and switch. People get

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Speaker 1: sucked in um for the price and then they stay

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Speaker 1: for everything else that it brings. But let's talk about

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Speaker 1: the price for a minute, because it's all over the

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Speaker 1: news this week because the price it's a bitcoin crashed.

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Speaker 1: It crashed this week all the way down to the

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Speaker 1: price that it was in October. Oh my gosh, I

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Speaker 1: can't believe it. Of course, I'm saying that sarcastically. So

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Speaker 1: we're all the way back to where we were about

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Speaker 1: October four, which is about two months of games that

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Speaker 1: we kind of wiped off the plate, which sounds bad

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Speaker 1: at first, but if we want to put that into perspective,

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Speaker 1: March of last year, we're at about thirty five dollars

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Speaker 1: and today we're sitting about forty eight thousand dollars. So

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Speaker 1: still looking pretty good, but it doesn't really tell the

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Speaker 1: whole picture. What really tells a more accurate picture is

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Speaker 1: when you look at it, you know, over this longer

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Speaker 1: term time frame. And so I think if I explain

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Speaker 1: this to you, gets a little bit of perspective. And

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Speaker 1: so we were at you know, as low as like

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Speaker 1: thirty now we're at dollars. But the perspective is that

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Speaker 1: it ran from that thirty low up to about sixty

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Speaker 1: four thousand dollars in um April of this year. And

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Speaker 1: that was a pretty dramatic run. Now, it didn't go

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Speaker 1: up in a straight line, as a matter of fact, UM,

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Speaker 1: it ran pretty hot and heavy. UM. In January the

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Speaker 1: price dropped about eight percent UM. Then we saw, you know,

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Speaker 1: run pretty hot and heavy again until February, and then

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Speaker 1: the price dropped another and then it ran pretty hot

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Speaker 1: and heavy until the next month March, where it dropped

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Speaker 1: another uh and then it ran pretty hot and heavy

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Speaker 1: till the next month where it dropped percent. Are you

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Speaker 1: getting the idea every month? And then it ran pretty

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Speaker 1: hot and heavy till the next month May eleven, where

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Speaker 1: it then dropped forty eight percent. So it got up

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Speaker 1: to that high of about sixty four thousand, and then

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Speaker 1: it dropped all the way down, all the way down

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Speaker 1: to about thirty dollars, and then for about two about

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Speaker 1: two and a half months, it sat in what we

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Speaker 1: call a range, and basically this range where it just

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Speaker 1: basically moved around thirty, you know, thirty five thousand dollars

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Speaker 1: for like two months straight. So when it's high up

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Speaker 1: as sixty four thousand, all the way down to thirty

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Speaker 1: thirty five thousand, and just stayed in that thirty range

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Speaker 1: for two months, and then it took off again. When

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Speaker 1: things build up, when when things consolidate, they start to

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Speaker 1: build up energy and it builds for the next blast off.

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Speaker 1: So it's kind of like, um, it's kind of like

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Speaker 1: if you went out to like, uh, to go to

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Speaker 1: go exercise. Hopefully you're doing that if you're not to

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Speaker 1: exercise and neone to go walk and uh, if you're walking,

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Speaker 1: you could probably walk for a really long time. Right.

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Speaker 1: But let's say that you ran, Let's say that you

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Speaker 1: um ran at of your max. Well, you could still

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Speaker 1: run pretty far, but eventually have to take a break. Well,

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Speaker 1: let's say you that you sprinted. Let's say that you

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Speaker 1: did it all out, sprint as fast as you could

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Speaker 1: possibly go. Well, you couldn't run as far, and then

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Speaker 1: you have to take a break. You have to take

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Speaker 1: a break and you have to catch your breath before

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Speaker 1: you could run again. And that's kind of like the markets.

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Speaker 1: When the markets go up at a very slow pace,

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Speaker 1: they can do that for a long period of time,

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Speaker 1: but when they run super fast and super hard, then

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Speaker 1: they have to they have to catch their breath. And

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Speaker 1: that's kind of what happened. So then UM we saw

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Speaker 1: it was into July July thirty one, UM it started

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Speaker 1: taking off again and it went from um from about

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Speaker 1: thirty thousand and um at at at the end of July,

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Speaker 1: about thirty thousand in July, all the way to sixty

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Speaker 1: nine thousand about two. Well, November twelve, that was a

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Speaker 1: pretty good run. Now, of course it it had some pullback,

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Speaker 1: so we saw um September six, it pulled back and

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Speaker 1: then kept going um, you know, and and we saw

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Speaker 1: lots of those pullbacks. We saw October ninete it pulled

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Speaker 1: back another fifteen percent, but it got up to six

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Speaker 1: thousand dollar high and now it's pulling back. But what's

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Speaker 1: interesting this time is now it looks like it's consolidating

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Speaker 1: around the fifty thousand dollar range. So a couple of

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Speaker 1: months ago it consolidated at thirty So year and a

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Speaker 1: half ago was three thousand runt to sixty four, and

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Speaker 1: then it consolidated around a thirty thousand dollar level. It's

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Speaker 1: pretty good then from thirty of last up to sixty nine,

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Speaker 1: and it pulled back and now it looks like it's

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Speaker 1: consolidated around a fifty dollar level. But you see it's

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Speaker 1: the lower I'm sorry, the higher lows, the higher lows.

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Speaker 1: That's what we're looking at. If you look at bitcoin

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Speaker 1: on a zoomed out chart, you'll see that every year

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Speaker 1: since the beginning, for the last twelve years, the lowest

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Speaker 1: point of every year, the lowest price of every single

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Speaker 1: year has always been higher except for one year, and

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Speaker 1: so that's what we're looking for, lower or higher lows,

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Speaker 1: and that's what we're doing. So anyway, you know, it's

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Speaker 1: down a little bit um, but it looks like it's

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Speaker 1: building up steam. As a matter of fact, that I

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Speaker 1: was in Miami all last week doing a bunch of

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Speaker 1: meetings and recording that show I was just talking about,

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Speaker 1: and I was, um blessed to get to go to

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Speaker 1: Michael Sailor's house. I went to Michael Sailor's house for

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Speaker 1: a barbecue and it was pretty amazing. If have you

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Speaker 1: guys have been following bitcoin, then of course he probably

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Speaker 1: doesn't need any introduction. If you do need an introduction,

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Speaker 1: he's probably one of the smartest guys UM in the

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Speaker 1: bitcoin space. He's m I t Um literally an M

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Speaker 1: I t Rocket scientist UM. He owns more Bitcoin than

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Speaker 1: any other person out there, and he continues to buy.

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Speaker 1: And I had got to hang out out of barbecue

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Speaker 1: his house. It's pretty cool, and we were talking about

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Speaker 1: this specifically, and he basically said the exact same thing

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Speaker 1: I'm telling you right now, which is it looks like

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Speaker 1: bitcoin is just pulled back. It looks like it's just

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Speaker 1: building up some momentum, some some energy, and I expected

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Speaker 1: to blast off again and so, um, you know, he's

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Speaker 1: on the radio talking to you, but I'm able to

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Speaker 1: interpret that for you. So that's kind of where we're

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Speaker 1: at with the price. But remember the price is a

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Speaker 1: short term distraction. What we're really looking for is two things. One,

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Speaker 1: the growth of the network, is the network growing, and

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Speaker 1: two is the development on the network growing. Those are

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Speaker 1: the two main things that we need to be watching

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Speaker 1: out for. And as long as those two things are

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Speaker 1: going good, then the price will take care of itself.

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Speaker 1: So let's talk about those two things, because there has

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Speaker 1: been some massive, massive, massive moves this week that I

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Speaker 1: want to explain to you now talking about Michael Sailor

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Speaker 1: real quickly back to him. For example, Um, this morning

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Speaker 1: he posted on Twitter that he micro Strategy, his company

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Speaker 1: purchased an additional one thousand, four hundred and thirty four

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Speaker 1: bitcoins for eighty two million dollars in cash at an

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Speaker 1: average price of fifty seven thousand dollars per bitcoin. What

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Speaker 1: that was As of twelve nine one, they hold over

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Speaker 1: one hundred and twenty two thousand bitcoin. Now, you might

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Speaker 1: think that bitcoin is a scam. You might think the

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Speaker 1: price of bitcoin is too expensive, but I would just

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Speaker 1: ask you to check yourself. Are you smarter than Michael Sailor?

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Speaker 1: Because I know a lot about bitcoin, I know a

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Speaker 1: lot about economics, I know a lot about technology. There's

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Speaker 1: no way I'm putting myself smarter than him. And he's

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Speaker 1: buying at these prices. So I was at his house

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Speaker 1: and barbecue. I told you what he said, and this

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Speaker 1: is he posted this morning. He just bought another uh

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Speaker 1: eight two million dollars worth of bitcoin. But again, the

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Speaker 1: prices the distraction. We want to look at the network

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Speaker 1: growth and development, and there's been big developments on both

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Speaker 1: those fronts. This week. I want to talk to you

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Speaker 1: about By the way, you're listening to the Mark Mos Show.

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Speaker 1: We're talking about bitcoin, we're talking about cryptocurrency, we're talking

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Speaker 1: about the decentralized revolution. I want to tell you about

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Speaker 1: why they're growing as fast as they are. What's happening.

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Speaker 1: So don't go away, I'm gonna be right back. All right,

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Speaker 1: Welcome back. You are listening to the Mark ma Show

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Speaker 1: where we're talking about bitcoin, we're talking about cryptocurrencies, and

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Speaker 1: we are talking about the decentralized revolution. Of course, each end,

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Speaker 1: every week I'm bringing you the latest information so you

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Speaker 1: can participate, so you don't get left out on what

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Speaker 1: I'm calling the biggest opportunity that you'll ever see in

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Speaker 1: your lifetime, in multiple lifetimes. Now, before the break, we

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Speaker 1: were talking about the price UM. The price has created

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Speaker 1: all the way back down to where it was in

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Speaker 1: October wam wham um. But but it's it's consolidating at

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Speaker 1: about a fifty dollar range, where a few months ago

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Speaker 1: it can all at a thirty thousand dollar range. That's

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Speaker 1: a pretty big difference. Um. I'm pretty happy to see

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Speaker 1: a consultation at the fifty range UM. And so that's

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Speaker 1: that's one piece of it. But again it's the development

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Speaker 1: that the network growth and development that we want to

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Speaker 1: be watching. And so there's a lot of things that

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Speaker 1: are happening on that front now. When I when we

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Speaker 1: go and look back how I talked about how it

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Speaker 1: it did get up to sixty had crashed all the

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Speaker 1: way down to that thirty thousand dollar range. One of

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Speaker 1: the biggest reasons why that happened is that China kicked

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Speaker 1: all the bitcoin miners out of their out of their

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Speaker 1: country now, Uh, that was one of the big things

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Speaker 1: that people would criticize bitcoin for is that, well, you know,

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Speaker 1: China controls all the mining. China could take over the

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Speaker 1: network if they wanted. And you know, there was a

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Speaker 1: little bit of truth to that. I mean, China did

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Speaker 1: control over over fifty percent, maybe about sixty percent of

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Speaker 1: all the bitcoin mining. And the way that this works

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Speaker 1: is that the miners have to achieve consensus. So you

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Speaker 1: need over of the network to agree to achieve consensus. UM.

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Speaker 1: And so if if potentially six of the miners were

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Speaker 1: situated in China, UM, that was a weak point. Now,

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Speaker 1: the reality is it's not the miners that control the networks,

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Speaker 1: the nodes. However, you know, it's still was somewhat true. UM.

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Speaker 1: But earlier this year, China kicked all the bitcoin miners

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Speaker 1: out of their country, So we don't want you here anymore. Now.

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Speaker 1: I made a video on my YouTube channel called China's

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Speaker 1: second fatal Mistake I know about. It's about twenty minute video,

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Speaker 1: and I talked about why I think this is their

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Speaker 1: second fatal mistake. Maybe I can explain to you on

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Speaker 1: the radio at another time. Of course, you can go

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Speaker 1: watch that video on my YouTube channel just Mark Moss

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Speaker 1: and China second fatal mistake, but they kicked all the

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Speaker 1: miners out. And basically it was the biggest attack the

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Speaker 1: bitcoin network might have ever seen, where literally over half

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Speaker 1: of the network was turned off almost overnight, like literally

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Speaker 1: it was it was, it was at attack. It was

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Speaker 1: exactly what people's worst fear was happened. And and China

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Speaker 1: attack the network, shut all the miners down and kick

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Speaker 1: him out of the country. Now, the way that this

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Speaker 1: works is that you buy a specially built purpose computer

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Speaker 1: that UM puts its processing power, it's hash power onto

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Speaker 1: the network and helps secure it. I and that's called

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Speaker 1: hash power. That's the power of the network, and it's

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Speaker 1: measured in um equa equa hash. All right, that's I'm

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Speaker 1: not going to get deep into the technical side, but

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Speaker 1: that's that's how it's measured. And we saw that um

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Speaker 1: it was at about a hundred and seventy five equa hash.

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Speaker 1: That's how that's how many computers were plugged into the

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Speaker 1: network and we're processing transactions at the time. Well, when

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Speaker 1: China shut all their network down, we saw the network

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Speaker 1: the hash rate drop all the way down to eighty

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Speaker 1: four eighty four equash so about about in a half. Now,

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Speaker 1: the Big Way network didn't skip a beat. As a

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Speaker 1: matter of fact, it continued to pump out a block

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Speaker 1: by block by block every ten minutes. Now, you know,

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Speaker 1: some of the some of the transactions slowed down a

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Speaker 1: little bit, maybe you paid a little bit more for

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Speaker 1: a transaction, but it continued to work over and over

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Speaker 1: and over. However, imagine if a big network like Amazon,

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Speaker 1: for example, if half their distribution were shut off overnight,

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Speaker 1: how long would it take them to pick up all

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Speaker 1: their distribution centers, move them across the world, set back up.

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Speaker 1: What type of disruption would happen to the Amazon network?

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Speaker 1: I mean to be catastrophic? Right, Well, the Bitcoin network

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Speaker 1: didn't skip a beat. And as a matter of fact,

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Speaker 1: not only did it not skip a beat, it's now

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Speaker 1: back up over where it was pre China crackdown. So

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Speaker 1: now we've seen all the hash power coming back. As

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Speaker 1: a matter of fact, it's increased by a hundred and

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Speaker 1: eight percent since June and then and the Bitcoin networks

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Speaker 1: is is now performing the seven day ruling average of

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Speaker 1: back to a hundred and seventy eight equa hash as

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Speaker 1: of Wednesday, So it's right there where it was um,

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Speaker 1: and I think that is a testament. I mean, it's

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Speaker 1: one of the strong, longest examples that we can see

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Speaker 1: of the resiliency of the Bitcoin network. So a lot

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Speaker 1: of people can tell you whatever they want about any

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Speaker 1: of the other cryptocurrencies, but none of them have been

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Speaker 1: tested ever like what the Bitcoin network has done over

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Speaker 1: and over and over. So it was the worst attack

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Speaker 1: that you could ever see happen, and and and it

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Speaker 1: hurt the network. Like I said, it caused the hash

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Speaker 1: rate the processing power to drop almost in half. But

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Speaker 1: as of this week, it is back. Baby is back.

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Speaker 1: And so um, that's what I'm talking about. Is the

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Speaker 1: network growing. Yes, we got more miners to come on

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Speaker 1: board with more computers with more hash power, and we're

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Speaker 1: bigger and stronger than we were before. The network is

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Speaker 1: continuing to grow. It's awesome. So that's that's one big

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Speaker 1: piece that we want to look at. Another big piece

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Speaker 1: that we want to look at is the development on

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Speaker 1: the network. What's happening on the development side, And there's

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Speaker 1: always big stuff happening there as well. So one of

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Speaker 1: the big things that we see is a lot of

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Speaker 1: people talk about when is cryptocurrency You're going to have

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Speaker 1: more adoption. Or um, you know, cryptocurrency won't take off

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Speaker 1: until it's easier to spend, right, Um, I need it

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Speaker 1: needs to be easier to make transactions. Or um, when

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Speaker 1: can I go to my store? When can I go

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Speaker 1: down to the store and spend my cryptocurrency? I hear

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Speaker 1: these things all the time, right, Well, those days are coming,

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Speaker 1: and they're coming fast and furious. As a matter of fact,

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Speaker 1: we saw this week coin base announced So coin Bases

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Speaker 1: probably I think it's the largest cryptocurrency exchange in the world.

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Speaker 1: It's a publicly traded company. Um. They announced support for

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Speaker 1: hardware wallet's starting with Ledger. So this is pretty cool. Now,

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Speaker 1: if you've been tuned in each and every week, you

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Speaker 1: hear me talk about security and securing your bitcoin, securing

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Speaker 1: your cryptocurrency. Now, the oldest problem that mankind has had

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Speaker 1: since the beginning of time, the oldest problem in the

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Speaker 1: world is how do I secure my property in a

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Speaker 1: way that can't be stolen. Well, bitcoin fixed that problem

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Speaker 1: because now I can store my own wealth, I can

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Speaker 1: control my bitcoin, I can store my keys in a

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Speaker 1: way that's cryptographic, is secured, and nobody can take from me.

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Speaker 1: But when I put them onto an exchange like coin

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Speaker 1: Base or any of these other ones. I'm losing custody

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Speaker 1: of my coins. I'm giving them to coin Base, and

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Speaker 1: that creates something called counterparty risk. When I give it

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Speaker 1: to them, I might not get it back. Well, that's

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Speaker 1: a problem. So I don't like to put my money

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Speaker 1: onto exchanges. I've told you some of my some of

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Speaker 1: my losses, and some of my losses involved putting my

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Speaker 1: money onto exchanges and not being able to get it

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Speaker 1: back off again, it's a big risk. It happens to me.

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Speaker 1: I've lost a lot of money. I'll tell you more

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Speaker 1: about that story when my court case gets finished up

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Speaker 1: here in a couple of weeks. Um, that's a big problem.

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Speaker 1: And we saw this week that coin Base announced that

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Speaker 1: it's going to support crypto hardware wallets starting with Ledger.

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Speaker 1: All right, this is a really big deal that's going

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Speaker 1: to continue to build the ecosystem. But then there's even

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Speaker 1: bigger news, even bigger news that's going to help with

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Speaker 1: this problem. Like I said, I, well, can I go

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Speaker 1: to a store and buy things with my crypto? Who

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Speaker 1: even takes crypto? Right? Well, that got solved as well.

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Speaker 1: So I want to tell you about that as well. Remember,

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Speaker 1: we don't want to watch the price on a regular basis,

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Speaker 1: We want to look at the price on a very

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Speaker 1: zoomed out basis. But we do want to watch for

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Speaker 1: on a regular basis is the growth of the network

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Speaker 1: and the development on the network. And I talked about

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Speaker 1: the hashway coming back, and now these two new things

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Speaker 1: that coin Base rolled out, I think is going to

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Speaker 1: exponentially increase the market share of bitcoin and cryptocurrencies. Can

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Speaker 1: tell you about those two things. By the way, you're

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Speaker 1: listening to the Mark Moa Show, and of course we're

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Speaker 1: if you're just tuning in. We're talking about bitcoin, we're

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Speaker 1: talking about cryptocurrencies. We're talking about the de centralized revolution

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Speaker 1: that we are living through that we're witnessing right now.

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Speaker 1: But we're talking about the growth of the network and

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Speaker 1: how fast these are grow, right, how fast they're going

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Speaker 1: to be changing the world, how fast adoption will come.

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Speaker 1: Don't go away, I'll be right back. Hey, welcome back.

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Speaker 1: You're listening to the markma Show. We're talking about bitcoin,

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Speaker 1: we're talking about cryptocurrencies, we're talking about the decentralized revolution. Now,

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Speaker 1: before the break, we were talking about kind of what

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Speaker 1: I always talk about, which is stop looking at the

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Speaker 1: price every day. Uh, anybody's looking at any investment. I

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Speaker 1: don't care what investment it is. If you're looking at

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Speaker 1: on a daily or a weekly or a monthly basis,

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Speaker 1: you're never gonna make it now unless you're a day trader,

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Speaker 1: which I don't recommend. But you know, assets, especially ones

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Speaker 1: that are are revolutionary, that are new, that are life changing,

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Speaker 1: they take time to develop and so you have to

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Speaker 1: give them time. So we don't want to look at

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Speaker 1: the price on a regular basis. What we do want

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Speaker 1: to be watching out for is the news. We do

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Speaker 1: want to be looking at the growth of the network

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Speaker 1: and the development on the network. Now, I was talking

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Speaker 1: about how um the bitcoin price, even though it's a distraction,

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Speaker 1: is continuing to go higher. Even though it's down a

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Speaker 1: little bit today, it's down at a higher level than

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Speaker 1: it was down a few months ago. So that's that's

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Speaker 1: called higher lows. That's a good thing. But I was

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Speaker 1: talking about and then I was talking abou how the

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Speaker 1: hash rate for the bitcoin network has gotten back to

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Speaker 1: its previous high before the China ban. That's super super bullish.

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Speaker 1: But I was talking about coin base, which is the

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Speaker 1: largest exchange, the publicly traded company, and now they want

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Speaker 1: to support crypto hardware wallets. So a hardware wallet is

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Speaker 1: a device that's like like a little USB drive treasure

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Speaker 1: or this one specifically that they started working with. It's

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Speaker 1: called Ledger. So it's a little hardware wallet, like a

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Speaker 1: little USB device, And what it does is it stores

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Speaker 1: my private key. And basically the way that cryptocurrencies work

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Speaker 1: is that I could have there's two addresses. There's imagine

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Speaker 1: like at high school, Um, you have a locker and

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Speaker 1: that locker is like C nineteen and I'm like, hey,

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Speaker 1: my my locker C nineteen and goll put this envelope

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Speaker 1: in there. So that's my public address, and anybody can

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Speaker 1: go put something in my my locker, but I hold

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Speaker 1: the private key to open that locker. And that's how

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Speaker 1: cryptocurrencies work. So I have a public address, any a

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Speaker 1: public address and a big and send money, but I

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Speaker 1: hold my private key that allows me to open that

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Speaker 1: locker and transfer that money if I want to. And

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Speaker 1: so if I have my money on an exchange like

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Speaker 1: coin based, then they hold my private key. But if

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Speaker 1: I use a wallet like Ledger, then I hold my

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Speaker 1: private key and I like to use it in a

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Speaker 1: hardware wall like Ledger, because that private key never goes

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Speaker 1: onto an internet connected device. It's on this little USB device.

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Speaker 1: I plug it into my computer to sign the transaction

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Speaker 1: to unlock it, and then I unplug it, so it's

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Speaker 1: never sitting on the computer. But the problem with coin

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Speaker 1: bases or any exchange is when I give them when

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Speaker 1: I when I put my my my assets on there,

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Speaker 1: I'm giving them my key and there's a chance I

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Speaker 1: don't get them back. Well, coin base now has an

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Speaker 1: extension that allows me to connect my Ledger hardware wallet,

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Speaker 1: so it allows me to maintain self custody, allows me

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Speaker 1: to keep full control over my assets, but still be

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Speaker 1: able to exchange them if I want to. And that

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Speaker 1: is pretty massive. Now, as I was saying before, the

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Speaker 1: the the oldest problem that man kind has had since

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Speaker 1: beginn time is how do I secure my assets in

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Speaker 1: a way that don't are that that can't be stolen.

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Speaker 1: And that's what cryptocurrency, that's what bitcoin solves. But again,

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Speaker 1: every time I put them onto an exchange, I lose

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Speaker 1: that UM. And so now this is a way where

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Speaker 1: I can hold my own private key, UM, I can

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Speaker 1: still exchange to have to put it on there, and

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Speaker 1: that is pretty amazing. That's the development that we're talking

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Speaker 1: about now. This is scheduled to be rolled out in

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Speaker 1: the first quarter of two, So don't log into your

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Speaker 1: coin basic account when you when you're listening to me

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Speaker 1: right now, I expect to have it in there. UM.

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Speaker 1: But again, we're trying to pay attention to the development

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Speaker 1: that's going on, and this is massive development. Um. Coin

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Speaker 1: based claims to have over seventy three million customers globally,

430
00:21:45,640 --> 00:21:49,040
Speaker 1: over ten thousand institutions, over a hundred and eighty five

431
00:21:49,080 --> 00:21:53,680
Speaker 1: thousand application developers. And every time I have to transfer

432
00:21:53,760 --> 00:21:57,399
Speaker 1: my funds on or off of bitcoin or any exchange

433
00:21:57,440 --> 00:21:59,960
Speaker 1: for that matter, there's risk I could put the number

434
00:22:00,000 --> 00:22:02,840
Speaker 1: we're in wrong, a hacker could get it, something could happen.

435
00:22:03,680 --> 00:22:06,240
Speaker 1: And if I never have to give up my private key,

436
00:22:06,359 --> 00:22:08,879
Speaker 1: I can hold it. It's pretty amazing. It's a really

437
00:22:08,920 --> 00:22:11,119
Speaker 1: really big step for someone like coin based to roll out.

438
00:22:11,160 --> 00:22:14,160
Speaker 1: I'm super bullish on it. But that is not all.

439
00:22:14,920 --> 00:22:18,800
Speaker 1: That's not all. There's something even more. By the way,

440
00:22:18,840 --> 00:22:20,360
Speaker 1: if you're just tuning in, you're listening to the Mark

441
00:22:20,440 --> 00:22:23,520
Speaker 1: Moa show, we're talking about bitcoin. We're talking about cryptocurrencies.

442
00:22:23,520 --> 00:22:27,600
Speaker 1: We're talking about the decentralized revolution. We're talking about how

443
00:22:27,600 --> 00:22:29,720
Speaker 1: the two most important things to watch out for when

444
00:22:29,720 --> 00:22:32,040
Speaker 1: you're listening to the when you're paying attention to bitcoin

445
00:22:32,119 --> 00:22:36,760
Speaker 1: and cryptocurrencies is the growth of the network, the users

446
00:22:36,840 --> 00:22:39,360
Speaker 1: and the development that's happening, and says what we're talking

447
00:22:39,359 --> 00:22:42,359
Speaker 1: about right now, and on top of the coin base

448
00:22:42,480 --> 00:22:45,200
Speaker 1: and the Ledger news, there's something even bigger. And as

449
00:22:45,240 --> 00:22:47,320
Speaker 1: I was saying earlier, one of the big things that

450
00:22:47,359 --> 00:22:50,600
Speaker 1: we hear is when is mass adoption gonna come? Like

451
00:22:50,840 --> 00:22:54,439
Speaker 1: you still can't use cryptocurrencies to buy anything, you know,

452
00:22:54,480 --> 00:22:57,200
Speaker 1: all these things. As a matter of fact, Christine Legarde,

453
00:22:57,880 --> 00:23:00,359
Speaker 1: she's used to be ahead of the the i m F,

454
00:23:00,440 --> 00:23:02,920
Speaker 1: the International Monetary Fund. Now she's head of the ECB,

455
00:23:03,080 --> 00:23:06,000
Speaker 1: the European Central Bank. She went on the news though

456
00:23:06,160 --> 00:23:08,320
Speaker 1: a week a week or two ago, and she said

457
00:23:08,760 --> 00:23:15,760
Speaker 1: cryptocurrencies are not a currency full stop Like okay, like

458
00:23:15,880 --> 00:23:18,120
Speaker 1: so full stop. So that means like what does that mean?

459
00:23:18,160 --> 00:23:20,440
Speaker 1: Full stop? So that means that I can't come back

460
00:23:20,480 --> 00:23:22,679
Speaker 1: with a response I got that is like a mic

461
00:23:22,760 --> 00:23:25,879
Speaker 1: drop or whatever. Anyways, she said cryptocurrencies are not a

462
00:23:25,880 --> 00:23:30,840
Speaker 1: currency full stop well, currency is technically anything that can

463
00:23:30,880 --> 00:23:34,880
Speaker 1: be used as a medium of exchange. A currency could

464
00:23:34,880 --> 00:23:37,040
Speaker 1: be anything that could be used as a medium exchange.

465
00:23:37,400 --> 00:23:39,600
Speaker 1: And you and I, if we're trading goods and services,

466
00:23:39,640 --> 00:23:41,800
Speaker 1: we can decide what we wanted a medium exchange. It's

467
00:23:41,840 --> 00:23:43,520
Speaker 1: not for her to tell us. It's not for anyone

468
00:23:43,520 --> 00:23:45,680
Speaker 1: to tell us. You and I, if we're doing exchange,

469
00:23:45,720 --> 00:23:50,119
Speaker 1: we decide what the medium exchanges. So she said it's

470
00:23:50,119 --> 00:23:54,159
Speaker 1: not a medium exchange, it's not a currency. Well she's wrong,

471
00:23:54,320 --> 00:23:59,200
Speaker 1: because new news came out this week Ledger talking about

472
00:23:59,240 --> 00:24:03,399
Speaker 1: Ledger Steel, they have debuted a new debit card that

473
00:24:03,560 --> 00:24:09,320
Speaker 1: enables users to buy goods and services with their digital assets.

474
00:24:10,600 --> 00:24:14,600
Speaker 1: What you mean, Christine, the Guard is wrong. It is

475
00:24:14,680 --> 00:24:17,200
Speaker 1: it can be used a currency, That's what I'm saying.

476
00:24:17,800 --> 00:24:20,880
Speaker 1: This potentially opens the doors to wider adoption of crypto

477
00:24:21,000 --> 00:24:24,840
Speaker 1: payment services. All right. They're calling this the Crypto Life Card,

478
00:24:25,440 --> 00:24:28,120
Speaker 1: and it was introduced at ledgers UM meeting this week.

479
00:24:29,160 --> 00:24:32,680
Speaker 1: And basically, when you use this Ledger hardware wallet, so again,

480
00:24:33,359 --> 00:24:35,720
Speaker 1: this Harbor wallet stores my key and I have like

481
00:24:35,760 --> 00:24:38,439
Speaker 1: this interface UM that I use it with, and the

482
00:24:38,480 --> 00:24:41,359
Speaker 1: debit card is linked to this interface it's like a

483
00:24:41,400 --> 00:24:44,320
Speaker 1: desktop or mobile application. And then it allows me to

484
00:24:44,560 --> 00:24:47,919
Speaker 1: use this this wallet in this interface to buy um

485
00:24:48,040 --> 00:24:52,280
Speaker 1: or or swap out different cryptocurrencies. And then the card

486
00:24:52,960 --> 00:24:56,560
Speaker 1: UM this this debit card supports you know, it works

487
00:24:56,560 --> 00:25:00,080
Speaker 1: in the ecosystem, and it supports um, bitcoin, ethereum and

488
00:25:00,200 --> 00:25:03,720
Speaker 1: some stable coins all right, and the card holders anyone

489
00:25:03,880 --> 00:25:06,639
Speaker 1: has the card, has the option of instantly converting their

490
00:25:06,640 --> 00:25:10,720
Speaker 1: cryptocurrency into fiat for the purpose of spending it, as

491
00:25:10,720 --> 00:25:14,040
Speaker 1: well as obtaining line of credit using your digital assets

492
00:25:14,080 --> 00:25:17,440
Speaker 1: as collateral, so you can keep your bitcoin and then

493
00:25:17,640 --> 00:25:20,000
Speaker 1: if you want to make a purchase, at the point

494
00:25:20,119 --> 00:25:23,399
Speaker 1: of purchasing, can automatically converted into Fiat for me, and

495
00:25:23,400 --> 00:25:26,080
Speaker 1: then I can do that. Also, if I don't want

496
00:25:26,080 --> 00:25:27,640
Speaker 1: to sell my bitcoin, if I don't want to convert

497
00:25:27,640 --> 00:25:30,560
Speaker 1: it over, it will instantly give me a loan against

498
00:25:30,560 --> 00:25:35,200
Speaker 1: my bitcoin ethereum as collateral, which is pretty cool. So

499
00:25:35,240 --> 00:25:37,959
Speaker 1: basically UM, I can just use my debic card any

500
00:25:37,960 --> 00:25:39,720
Speaker 1: where I want, and on top of that, I can

501
00:25:39,760 --> 00:25:43,240
Speaker 1: deposit my paycheck into this and then I can select

502
00:25:43,320 --> 00:25:46,040
Speaker 1: which percentage of my income I want converted into Bitcoin,

503
00:25:46,400 --> 00:25:49,160
Speaker 1: ethereum or stable coins, so I can have my paycheck

504
00:25:49,240 --> 00:25:51,560
Speaker 1: directly deposit in there, and I say I want fIF

505
00:25:52,160 --> 00:25:54,760
Speaker 1: in bitcoin, I want and ethereum and the rest I

506
00:25:54,760 --> 00:25:58,040
Speaker 1: wanted stable coin or whatever. You can automatically do that.

507
00:25:58,359 --> 00:26:01,320
Speaker 1: So my, my, my, I'm getting paid in bitcoin that

508
00:26:01,359 --> 00:26:03,800
Speaker 1: way and direct deposit, and then I have a debit

509
00:26:03,800 --> 00:26:06,440
Speaker 1: card hooked at that, and then I can spend off

510
00:26:06,480 --> 00:26:09,480
Speaker 1: of my bitcoin on my stable coin, or I don't

511
00:26:09,480 --> 00:26:12,040
Speaker 1: have to spend my bitcoin. I can just borrow against

512
00:26:12,080 --> 00:26:14,520
Speaker 1: my bitcoin to spend right on that. So that means

513
00:26:14,560 --> 00:26:16,640
Speaker 1: I can go to any store anywhere that the visa

514
00:26:16,680 --> 00:26:18,840
Speaker 1: card has accepted, which is pretty much everywhere in the world,

515
00:26:19,359 --> 00:26:23,160
Speaker 1: and I can spend directly from my bitcoin. So wait, wait,

516
00:26:23,240 --> 00:26:26,159
Speaker 1: Christine the guard said it's not a currency, Well I

517
00:26:26,240 --> 00:26:28,719
Speaker 1: share as he can use it now for buying anything

518
00:26:28,760 --> 00:26:29,960
Speaker 1: I want. So all those people that are telling you

519
00:26:30,000 --> 00:26:33,600
Speaker 1: it's never going to achieve any market penetration, never gonna

520
00:26:33,600 --> 00:26:35,520
Speaker 1: achieve adoption because you can't go buy stuff with it,

521
00:26:35,840 --> 00:26:39,159
Speaker 1: well they're wrong. Um. This card is set to launch

522
00:26:39,160 --> 00:26:42,480
Speaker 1: in the first quarter of two So if you're in

523
00:26:42,480 --> 00:26:47,080
Speaker 1: the United States, Um, actually that's going out to the UK, France,

524
00:26:47,119 --> 00:26:49,440
Speaker 1: and Germany first, and then it's gonna have a second

525
00:26:49,520 --> 00:26:53,160
Speaker 1: quarter rollout in the United States. UM, so look forward

526
00:26:53,240 --> 00:26:55,760
Speaker 1: to the the second quarter of next year in the United States.

527
00:26:55,840 --> 00:26:57,720
Speaker 1: But there's there's This is just from Ledger. There's plenty

528
00:26:57,720 --> 00:26:59,199
Speaker 1: of other ones that are available. This is not the

529
00:26:59,400 --> 00:27:01,600
Speaker 1: this is not the only one that's available. It was

530
00:27:01,640 --> 00:27:03,480
Speaker 1: just big news that was out this week that I

531
00:27:03,480 --> 00:27:06,000
Speaker 1: thought we would talk about, because remember, the two most

532
00:27:06,040 --> 00:27:09,040
Speaker 1: important things to pay attention to our the growth of

533
00:27:09,040 --> 00:27:12,320
Speaker 1: the network, how many users are using it, and the

534
00:27:12,400 --> 00:27:16,080
Speaker 1: development and I think this handles both of those at

535
00:27:16,119 --> 00:27:19,080
Speaker 1: the exact same time. Um, these payments are going to

536
00:27:19,119 --> 00:27:21,600
Speaker 1: be a huge use case. You're listening to the Marketma Show.

537
00:27:21,600 --> 00:27:24,520
Speaker 1: We're talking about bitcoin. We're talking about cryptocurrencies. We're talking

538
00:27:24,520 --> 00:27:29,240
Speaker 1: about this decentralized revolution. We're literally witnessing history being made

539
00:27:29,320 --> 00:27:31,160
Speaker 1: right now. I'm here with you each and every week

540
00:27:31,600 --> 00:27:34,080
Speaker 1: giving you the news that you need to survive. And

541
00:27:34,119 --> 00:27:37,280
Speaker 1: I have more coming up right away, So don't go away,

542
00:27:37,560 --> 00:27:39,560
Speaker 1: all right, everyone, welcome back. You're listening to the Mark

543
00:27:39,600 --> 00:27:42,720
Speaker 1: Moa Show. We're talking about bitcoin. We're talking about cryptocurrencies.

544
00:27:42,760 --> 00:27:46,760
Speaker 1: We're talking about the decentralized revolution that we're all living through.

545
00:27:46,800 --> 00:27:50,080
Speaker 1: We're all witnessing in real time. It's the biggest opportunity

546
00:27:50,080 --> 00:27:51,480
Speaker 1: you'll ever have in your life, that it's the biggest

547
00:27:51,480 --> 00:27:53,880
Speaker 1: opportunity you will have in multiple lifetimes. And the way

548
00:27:53,880 --> 00:27:57,640
Speaker 1: that you participate in these opportunities is by having information

549
00:27:57,680 --> 00:28:00,399
Speaker 1: that most people don't have, which is I'm trying to

550
00:28:00,400 --> 00:28:01,840
Speaker 1: bring to you each and every week. I'm trying to

551
00:28:01,840 --> 00:28:04,119
Speaker 1: give you the education that you need to learn how

552
00:28:04,119 --> 00:28:05,919
Speaker 1: to navigate. I'm trying to give you the news that

553
00:28:05,960 --> 00:28:07,960
Speaker 1: you need to stay on top of it. And of

554
00:28:08,040 --> 00:28:09,320
Speaker 1: course I'm trying to make it fun. I'm trying to

555
00:28:09,320 --> 00:28:10,600
Speaker 1: make it entertaining. I'm trying to bring you some of

556
00:28:10,640 --> 00:28:12,800
Speaker 1: the best guests, some of the best experts in the

557
00:28:12,840 --> 00:28:15,720
Speaker 1: world to give you even more perspective. And you know,

558
00:28:15,760 --> 00:28:17,160
Speaker 1: so you don't get bored up here in my voice

559
00:28:17,240 --> 00:28:20,440
Speaker 1: all the time. But you know, we've been talking about

560
00:28:20,520 --> 00:28:22,680
Speaker 1: the growth of the network, the development on the network,

561
00:28:23,560 --> 00:28:25,680
Speaker 1: and some things that have been happening. Um, we talked

562
00:28:25,720 --> 00:28:29,600
Speaker 1: about that before the break. We talked about how we're

563
00:28:29,600 --> 00:28:31,679
Speaker 1: about to see some massive adoption. We're one of the

564
00:28:31,720 --> 00:28:35,200
Speaker 1: biggest things, the biggest objections that people have to say

565
00:28:35,720 --> 00:28:39,840
Speaker 1: is that, um, you know, you can't use bitcoin and cryptocurrencies.

566
00:28:40,120 --> 00:28:43,120
Speaker 1: I can't use it to buy anything, no stores take it.

567
00:28:43,440 --> 00:28:45,840
Speaker 1: Blah blah blah blah blah. Well, Um, what I was

568
00:28:45,840 --> 00:28:48,400
Speaker 1: talking about before the break is how um a new

569
00:28:48,480 --> 00:28:51,000
Speaker 1: debit card is coming out where I can have I

570
00:28:51,040 --> 00:28:54,560
Speaker 1: can choose to have my paycheck deposited directly deposited into

571
00:28:54,560 --> 00:28:56,600
Speaker 1: my crypto account. I can decide how much I want

572
00:28:56,640 --> 00:28:58,520
Speaker 1: to go into bitcoin, how much into ethereum, how much

573
00:28:58,560 --> 00:29:01,160
Speaker 1: in the stable cooin, etcetera. And then I can use

574
00:29:01,200 --> 00:29:05,960
Speaker 1: my visa debit card anywhere that visas accepted and spend

575
00:29:06,360 --> 00:29:09,760
Speaker 1: right off my cryptocurrencies. And so that big objection that

576
00:29:09,760 --> 00:29:12,920
Speaker 1: everybody says, that's gone. And I think this is gonna

577
00:29:12,920 --> 00:29:15,240
Speaker 1: be huge for the adoption of the space, which is

578
00:29:15,240 --> 00:29:18,760
Speaker 1: pretty cool. Now, there is one big problem with this,

579
00:29:18,840 --> 00:29:21,240
Speaker 1: which you don't hear talked about very often, but I'm

580
00:29:21,440 --> 00:29:23,719
Speaker 1: was going to give it to you straight here, and

581
00:29:23,800 --> 00:29:27,520
Speaker 1: that is that people say that, oh, yeah, the government's

582
00:29:27,560 --> 00:29:31,560
Speaker 1: just going to regulate cryptocurrencies, and my response to that

583
00:29:31,680 --> 00:29:35,640
Speaker 1: is yeah, they are. As a matter of fact, cryptocurrencies.

584
00:29:35,880 --> 00:29:40,400
Speaker 1: Bitcoin is the most regulated asset there is already. It's

585
00:29:40,440 --> 00:29:45,320
Speaker 1: already all right, Um, the I R S ruled in

586
00:29:46,920 --> 00:29:51,000
Speaker 1: that bitcoin is considered property and that they tax it

587
00:29:51,320 --> 00:29:54,080
Speaker 1: like property. So that means that the that means that

588
00:29:54,120 --> 00:29:57,720
Speaker 1: the I r S taxes bitcoin directly like they would

589
00:29:57,760 --> 00:30:03,280
Speaker 1: tax stocks or gold or real estate or anything else

590
00:30:03,440 --> 00:30:06,400
Speaker 1: like that. UM, and so they're already regulating it. And

591
00:30:06,400 --> 00:30:09,000
Speaker 1: so the problem with spending your cryptocurrency, your bitcoin or

592
00:30:09,000 --> 00:30:13,280
Speaker 1: another cryptocurrency is that, because it's property, anytime you sell

593
00:30:13,440 --> 00:30:17,760
Speaker 1: that cryptocurrency, it's a taxable event. And so if you're

594
00:30:17,760 --> 00:30:19,640
Speaker 1: gonna go buy a cup of coffee for two bucks

595
00:30:19,720 --> 00:30:21,400
Speaker 1: or five bucks or however much that a lot take

596
00:30:21,440 --> 00:30:24,479
Speaker 1: costs these days, that's a taxable event. And do you

597
00:30:24,520 --> 00:30:26,520
Speaker 1: really want to go create all these little taxable events

598
00:30:26,560 --> 00:30:28,680
Speaker 1: for all these little micro purchases and then have to

599
00:30:28,680 --> 00:30:30,360
Speaker 1: deal with all that paperwork and have your account and

600
00:30:30,360 --> 00:30:33,320
Speaker 1: deal with all that. For me, I say no. So

601
00:30:33,400 --> 00:30:35,360
Speaker 1: while it's cool that I can go spend my crypto

602
00:30:35,560 --> 00:30:38,480
Speaker 1: on anything that I want, UM, I don't really want

603
00:30:38,520 --> 00:30:40,760
Speaker 1: to do that. I think. I think for me, I

604
00:30:40,880 --> 00:30:45,040
Speaker 1: like to spend my feat and then I'll save my cryptocurrency.

605
00:30:45,040 --> 00:30:46,800
Speaker 1: So that's kind of the way that I focus on that.

606
00:30:47,880 --> 00:30:49,720
Speaker 1: UM and some other big news that happened this week

607
00:30:49,760 --> 00:30:51,479
Speaker 1: that I think is important. I've been I've been hit

608
00:30:51,560 --> 00:30:53,120
Speaker 1: up a bunch on this information, so I thought I

609
00:30:53,160 --> 00:30:55,920
Speaker 1: talked about it real quickly. Is that, you know, there's

610
00:30:56,000 --> 00:31:01,120
Speaker 1: this mysterious inventor of cryptocurrency and a lot of people

611
00:31:01,200 --> 00:31:03,920
Speaker 1: don't know who it is. Who is the inventor of bitcoin?

612
00:31:04,080 --> 00:31:07,120
Speaker 1: And they say, you know, who is the Setoshi Nakamoto?

613
00:31:07,200 --> 00:31:09,560
Speaker 1: And until we can figure out who the Toshi guy is,

614
00:31:09,560 --> 00:31:12,440
Speaker 1: I can't trust it. And to that I would say, well,

615
00:31:12,800 --> 00:31:14,920
Speaker 1: can you tell me who the developer of the t

616
00:31:15,120 --> 00:31:17,360
Speaker 1: c P i P protocol is that the entire Internet

617
00:31:17,440 --> 00:31:19,360
Speaker 1: is built off of. Can you tell me the name

618
00:31:19,400 --> 00:31:22,560
Speaker 1: of the top two engineers that worked on the Google

619
00:31:22,560 --> 00:31:25,480
Speaker 1: search engine that you use every day? And of course,

620
00:31:25,520 --> 00:31:27,720
Speaker 1: can you tell me who invented you know and whatever?

621
00:31:27,840 --> 00:31:29,720
Speaker 1: And of course the answer is no. And so I

622
00:31:29,760 --> 00:31:32,080
Speaker 1: would say to that it doesn't really matter. But there's

623
00:31:32,120 --> 00:31:34,480
Speaker 1: somebody by the name of Craig Right, who I hate

624
00:31:34,480 --> 00:31:36,640
Speaker 1: to even mention because he's such a scammer and a fraudster,

625
00:31:37,080 --> 00:31:40,040
Speaker 1: but he's been going around to everybody. He's Satoshi Nakamoto,

626
00:31:40,440 --> 00:31:44,320
Speaker 1: he is the rightful owner of bitcoin, and um, all

627
00:31:44,320 --> 00:31:48,400
Speaker 1: these things right and Um, it's pretty ridiculous in my mind. Um,

628
00:31:48,440 --> 00:31:52,080
Speaker 1: if you look at all the things that Setoshi Nakamoto said, so, Um,

629
00:31:52,120 --> 00:31:54,480
Speaker 1: there was tons of message boards and and things. There's

630
00:31:54,480 --> 00:31:57,200
Speaker 1: actually something called the Book of Satoshi where they've collected

631
00:31:57,280 --> 00:31:59,880
Speaker 1: all the contributions to the message boards that he made

632
00:32:00,000 --> 00:32:01,960
Speaker 1: of these things and they put it into a book.

633
00:32:02,320 --> 00:32:03,680
Speaker 1: And if you look at the things that he said,

634
00:32:03,720 --> 00:32:05,880
Speaker 1: the things that he did, Um, and now you look

635
00:32:05,920 --> 00:32:08,680
Speaker 1: at this guy Craig right, clearly not the same person.

636
00:32:08,760 --> 00:32:13,440
Speaker 1: So Nakamoto created the greatest um technological achievement in the

637
00:32:13,440 --> 00:32:15,720
Speaker 1: history of the world, has created a massive amounts of

638
00:32:15,720 --> 00:32:19,600
Speaker 1: wealth and gave it away for free. Gave it away

639
00:32:19,640 --> 00:32:23,120
Speaker 1: for free. This guy is trying to claim that he

640
00:32:23,320 --> 00:32:26,040
Speaker 1: is that guy and uh and take it over and

641
00:32:26,080 --> 00:32:30,800
Speaker 1: take control over it. So so Toca Nakamoto created something open, decentralized,

642
00:32:30,800 --> 00:32:33,640
Speaker 1: something that nobody can control, and gave it away for free.

643
00:32:33,640 --> 00:32:35,360
Speaker 1: This guy is trying to pretend that he owns it

644
00:32:35,360 --> 00:32:37,000
Speaker 1: and he wants to take it over and control it.

645
00:32:38,240 --> 00:32:40,320
Speaker 1: I think that pretty much goes against everything that it

646
00:32:40,400 --> 00:32:43,080
Speaker 1: was started for. But this week, the reason why I

647
00:32:43,120 --> 00:32:44,440
Speaker 1: bring it up is this week there was a big

648
00:32:44,440 --> 00:32:49,880
Speaker 1: case in Florida where um, basically, um, this guy Craig Right,

649
00:32:50,080 --> 00:32:54,040
Speaker 1: and he had another partner and Dave Kleiman and Dave

650
00:32:54,080 --> 00:32:57,320
Speaker 1: Climon is now deceased, but his family was going after

651
00:32:57,320 --> 00:32:59,560
Speaker 1: Craig Right and saying that Craig Right owes him a

652
00:32:59,600 --> 00:33:01,920
Speaker 1: bunch of money that he never paid him, and this

653
00:33:02,000 --> 00:33:05,000
Speaker 1: and that, and Craig Right it's like, no, that's not true,

654
00:33:05,080 --> 00:33:07,280
Speaker 1: and sitting with this his big battle. So Craig Right

655
00:33:07,400 --> 00:33:09,960
Speaker 1: is fighting a bunch of lawsuits all over the place.

656
00:33:09,960 --> 00:33:12,240
Speaker 1: He's he's fighting lawsuits. Um, And I think at the

657
00:33:12,320 --> 00:33:15,200
Speaker 1: end of the day, in my opinion, the reason why

658
00:33:15,280 --> 00:33:19,120
Speaker 1: he's doing this is that Bitcoin. I talked about this before,

659
00:33:19,160 --> 00:33:21,880
Speaker 1: but Bitcoin was forked in two thousand seventeen, and so

660
00:33:21,920 --> 00:33:23,560
Speaker 1: they made a copy of the database and they created

661
00:33:23,600 --> 00:33:26,680
Speaker 1: bitcoin cash. And if if when Bitcoin was forked into

662
00:33:26,680 --> 00:33:30,600
Speaker 1: bitcoin cash, anybody that owned Bitcoin now owned one Bitcoin

663
00:33:30,800 --> 00:33:35,160
Speaker 1: and one bitcoin cash token. And then when bitcoin cash

664
00:33:35,280 --> 00:33:38,920
Speaker 1: was forked eventually to bitcoin SV, anyone who owned one

665
00:33:38,920 --> 00:33:44,080
Speaker 1: bitcoin cash got one Bitcoin SV. Well, Craig Right was

666
00:33:44,120 --> 00:33:48,400
Speaker 1: one of the founders of bitcoin SV and the original

667
00:33:48,440 --> 00:33:51,239
Speaker 1: tokens that were locked up from Setoshi Nakamoto that are

668
00:33:51,240 --> 00:33:55,480
Speaker 1: worth hundreds of billions of dollars um that those tokens

669
00:33:55,480 --> 00:33:57,360
Speaker 1: have never been used. Those tokens have never been moved

670
00:33:57,360 --> 00:34:00,360
Speaker 1: because to Toshi is gone, he's disappeared. Nobody has access

671
00:34:00,400 --> 00:34:03,080
Speaker 1: to that. Those keys are lost, and so of course

672
00:34:03,120 --> 00:34:05,560
Speaker 1: everybody says, hey, Craig, right, if you're really a Tocian Lacamoto,

673
00:34:05,600 --> 00:34:08,040
Speaker 1: then where's your keys? Sign a transaction, prove that you

674
00:34:08,120 --> 00:34:10,120
Speaker 1: prove that, you prove that you are him. If if

675
00:34:10,160 --> 00:34:12,799
Speaker 1: you're really him, then you can sign the transaction right,

676
00:34:13,080 --> 00:34:15,400
Speaker 1: prove it. And of course he can't do that. But

677
00:34:15,520 --> 00:34:18,719
Speaker 1: I think what happens is um I talked about in

678
00:34:18,719 --> 00:34:23,160
Speaker 1: a previous episode how these smaller chains, smaller blockchains, they

679
00:34:23,160 --> 00:34:26,040
Speaker 1: can be easily taken over if you just get enough

680
00:34:26,040 --> 00:34:29,120
Speaker 1: hash power, and when you take over the network to

681
00:34:29,120 --> 00:34:32,680
Speaker 1: take over the blockchain, you can roll back transactions. And

682
00:34:32,719 --> 00:34:35,000
Speaker 1: I think what he's trying to do. And this is

683
00:34:35,080 --> 00:34:39,160
Speaker 1: shout out to Stacy Herbert from from Orange Bill Pod

684
00:34:39,480 --> 00:34:41,680
Speaker 1: with Max Kaiser. She's the one that gave me this thesis.

685
00:34:41,719 --> 00:34:43,920
Speaker 1: But I agree with her, and I think what's happening

686
00:34:43,920 --> 00:34:47,640
Speaker 1: is if he can prove that he is actually or

687
00:34:47,680 --> 00:34:51,239
Speaker 1: if a court would say that he is a Tocian Kamoto. Um,

688
00:34:51,360 --> 00:34:55,440
Speaker 1: then he might have the legal grounds to roll back

689
00:34:55,600 --> 00:34:58,640
Speaker 1: the bitcoin SV chains. The bitcoin SV chain is so

690
00:34:58,760 --> 00:35:01,160
Speaker 1: small that with just a little bit of hash power,

691
00:35:01,200 --> 00:35:03,960
Speaker 1: you can roll it backwards, and he could gain access

692
00:35:04,000 --> 00:35:07,520
Speaker 1: to all those coins that were created because of the

693
00:35:07,560 --> 00:35:10,160
Speaker 1: fork of the fork. Now if he did that now

694
00:35:10,200 --> 00:35:12,520
Speaker 1: without any legal president, without the courts agreeing to that,

695
00:35:12,600 --> 00:35:14,719
Speaker 1: of course, anybody that holds the big WINSV is going

696
00:35:14,760 --> 00:35:17,600
Speaker 1: to sue him to eternity. But if he can get

697
00:35:17,600 --> 00:35:20,120
Speaker 1: the courts to agree, oh yeah, I think, yeah, you

698
00:35:20,160 --> 00:35:23,040
Speaker 1: probably are Statocian Kamoto, then he could prove a legal

699
00:35:23,160 --> 00:35:26,200
Speaker 1: claim as to why he should be allowed to do that,

700
00:35:26,680 --> 00:35:29,520
Speaker 1: and then he could get access to all those tokens,

701
00:35:29,520 --> 00:35:31,920
Speaker 1: which could be billions of dollars. I think that's his

702
00:35:32,000 --> 00:35:34,320
Speaker 1: master plan. But anyway, back to the story at hand.

703
00:35:34,480 --> 00:35:36,880
Speaker 1: So this week, um, this, this, this went to court

704
00:35:37,239 --> 00:35:43,200
Speaker 1: and uh in Florida, the judge declared that uh, um no, uh,

705
00:35:43,280 --> 00:35:46,320
Speaker 1: he doesn't he doesn't win this case. The case didn't question,

706
00:35:46,480 --> 00:35:50,640
Speaker 1: didn't even consider the question of Satoshi's real identity, and

707
00:35:50,719 --> 00:35:54,759
Speaker 1: the plaintiff, Ira climon Um was suing on behalf of

708
00:35:54,800 --> 00:35:59,440
Speaker 1: the brother Dave climbing and basically said that. Um, the

709
00:35:59,480 --> 00:36:02,440
Speaker 1: court said, know right, you're a fraud, and as a

710
00:36:02,480 --> 00:36:08,960
Speaker 1: matter of fact, you owe Climbing now a hundred million dollars. Um,

711
00:36:09,000 --> 00:36:10,799
Speaker 1: you know, for all the problems that you've caused for them.

712
00:36:10,920 --> 00:36:13,879
Speaker 1: So the judge actually ruled that this guy, Craig Right,

713
00:36:14,040 --> 00:36:17,480
Speaker 1: owes the climbing family a hundred million dollars. And now

714
00:36:17,560 --> 00:36:21,399
Speaker 1: Setoshi Nakamoto, I'm sorry, Craig Right, pretending to be Stoshi,

715
00:36:21,520 --> 00:36:24,360
Speaker 1: is now coming out saying this was a big success

716
00:36:24,400 --> 00:36:28,400
Speaker 1: for me. Um, this was great. Um, wait a minute,

717
00:36:28,400 --> 00:36:31,120
Speaker 1: didn't she just get ordered to pay a hundred million dollars?

718
00:36:31,400 --> 00:36:34,040
Speaker 1: But he says, no, this is great because they didn't

719
00:36:34,040 --> 00:36:37,920
Speaker 1: say that I wasn't Setoshi Nakamoto. So his his scam

720
00:36:38,000 --> 00:36:40,600
Speaker 1: continues on. UM, I bring this to light only because

721
00:36:40,600 --> 00:36:42,239
Speaker 1: people have asked me about it. I just want you

722
00:36:42,239 --> 00:36:43,920
Speaker 1: to be aware that this is just a big scam

723
00:36:43,920 --> 00:36:47,000
Speaker 1: and I would ignore it from that point forward. UM.

724
00:36:47,040 --> 00:36:48,759
Speaker 1: So that's the news that we have for the week.

725
00:36:48,960 --> 00:36:50,840
Speaker 1: You're listening to the Mark Moa show. We're talking about bitcoin,

726
00:36:50,880 --> 00:36:54,560
Speaker 1: we're talking about cryptocurrencies, we're talking about the decentralized revolution. Um,

727
00:36:54,560 --> 00:36:56,400
Speaker 1: I'm here with you each and every week. Thanks so

728
00:36:56,520 --> 00:36:57,120
Speaker 1: much for listening,