WEBVTT - The Mark Moss Show Dec 15, 2021 0:00:00.120 --> 0:00:02.719 Hey, everyone, Welcome back to another episode of The Markma Show, 0:00:02.720 --> 0:00:05.560 where we're talking about bitcoin each and every week. Of course, 0:00:05.559 --> 0:00:10.600 we're talking about bitcoin, cryptocurrencies and the decentralized revolution that 0:00:10.680 --> 0:00:13.319 we're living through that we're witnessing right now. It's pretty 0:00:13.320 --> 0:00:17.000 exciting if you step back and just just admire that 0:00:17.079 --> 0:00:20.520 we are literally witnessing history being written. We're seeing one 0:00:20.560 --> 0:00:23.520 of the biggest technological revolutions that we will ever witness, 0:00:23.560 --> 0:00:26.560 that we've ever witnessed. And like I said, a lot, 0:00:26.640 --> 0:00:28.840 the future of humanity is going to be changed now. 0:00:28.920 --> 0:00:30.880 I don't say that lightly. As a matter of fact, 0:00:31.520 --> 0:00:33.839 I was just a guest on one of the biggest 0:00:34.360 --> 0:00:39.199 bitcoin podcast in and out there. It's called What Bitcoin Did, 0:00:39.760 --> 0:00:42.919 and I laid down a thesis in about two two 0:00:42.960 --> 0:00:44.360 and a half hours, which is a lot more than 0:00:44.400 --> 0:00:46.199 I can do with you on my radio here, and 0:00:46.240 --> 0:00:49.280 I laid out what I'm calling is the battle for 0:00:49.400 --> 0:00:53.519 the fate of humanity. Wow. That's pretty heavy, isn't it. 0:00:53.800 --> 0:00:56.120 And I don't mean that in a hyperbole way. I 0:00:56.200 --> 0:00:59.000 mean that legitimately. I think that's really where we're at, 0:00:59.440 --> 0:01:02.200 and I think bitcoin is the tool that allows us 0:01:02.200 --> 0:01:06.199 to win that battle. For the Fate of Humanity. Again, 0:01:06.280 --> 0:01:07.720 it's a long interview. It's more than I can go 0:01:07.800 --> 0:01:10.000 over here. But if you just do a quick Google 0:01:10.000 --> 0:01:12.680 search mark Moss battle for the Fate of Humanity, what 0:01:12.720 --> 0:01:16.440 Bitcoin did, you will find that interview. But I'm trying 0:01:16.440 --> 0:01:19.039 to fill you in bit by bit each and every week. 0:01:19.600 --> 0:01:21.240 I want this to be the most important, the most 0:01:21.280 --> 0:01:23.840 profitable point of your week. So make sure to uh 0:01:23.840 --> 0:01:25.720 set I ever set a calendar reminder on your phone 0:01:25.800 --> 0:01:28.800 right now for this channel this time, and join me. Now. 0:01:30.240 --> 0:01:33.360 After I just tell you how big that is, then 0:01:33.360 --> 0:01:35.839 I'm gonna go backwards a little bit and I'm gonna 0:01:35.880 --> 0:01:40.319 tell you about the price. Now. I say that reluctantly 0:01:40.319 --> 0:01:44.240 because I do believe the price is a short term distraction. 0:01:45.280 --> 0:01:46.959 The price is a short term distraction. I think it's 0:01:47.000 --> 0:01:49.240 also what I call the bait and switch. People get 0:01:49.240 --> 0:01:53.400 sucked in um for the price and then they stay 0:01:53.800 --> 0:01:56.680 for everything else that it brings. But let's talk about 0:01:56.720 --> 0:01:58.560 the price for a minute, because it's all over the 0:01:58.600 --> 0:02:01.400 news this week because the price it's a bitcoin crashed. 0:02:02.000 --> 0:02:05.840 It crashed this week all the way down to the 0:02:05.880 --> 0:02:09.040 price that it was in October. Oh my gosh, I 0:02:09.080 --> 0:02:13.480 can't believe it. Of course, I'm saying that sarcastically. So 0:02:13.520 --> 0:02:15.040 we're all the way back to where we were about 0:02:15.040 --> 0:02:17.800 October four, which is about two months of games that 0:02:17.840 --> 0:02:20.280 we kind of wiped off the plate, which sounds bad 0:02:20.320 --> 0:02:22.840 at first, but if we want to put that into perspective, 0:02:23.480 --> 0:02:27.400 March of last year, we're at about thirty five dollars 0:02:27.440 --> 0:02:30.160 and today we're sitting about forty eight thousand dollars. So 0:02:30.360 --> 0:02:32.760 still looking pretty good, but it doesn't really tell the 0:02:32.760 --> 0:02:36.480 whole picture. What really tells a more accurate picture is 0:02:36.480 --> 0:02:38.760 when you look at it, you know, over this longer 0:02:38.880 --> 0:02:42.160 term time frame. And so I think if I explain 0:02:42.240 --> 0:02:44.000 this to you, gets a little bit of perspective. And 0:02:44.040 --> 0:02:45.800 so we were at you know, as low as like 0:02:45.840 --> 0:02:49.600 thirty now we're at dollars. But the perspective is that 0:02:50.000 --> 0:02:53.880 it ran from that thirty low up to about sixty 0:02:54.040 --> 0:03:01.320 four thousand dollars in um April of this year. And 0:03:01.360 --> 0:03:03.200 that was a pretty dramatic run. Now, it didn't go 0:03:03.280 --> 0:03:05.639 up in a straight line, as a matter of fact, UM, 0:03:05.680 --> 0:03:09.200 it ran pretty hot and heavy. UM. In January the 0:03:09.280 --> 0:03:14.720 price dropped about eight percent UM. Then we saw, you know, 0:03:14.840 --> 0:03:17.560 run pretty hot and heavy again until February, and then 0:03:17.560 --> 0:03:21.799 the price dropped another and then it ran pretty hot 0:03:21.840 --> 0:03:24.639 and heavy until the next month March, where it dropped 0:03:24.680 --> 0:03:28.600 another uh and then it ran pretty hot and heavy 0:03:28.639 --> 0:03:33.640 till the next month where it dropped percent. Are you 0:03:33.639 --> 0:03:35.520 getting the idea every month? And then it ran pretty 0:03:35.560 --> 0:03:38.280 hot and heavy till the next month May eleven, where 0:03:38.280 --> 0:03:43.680 it then dropped forty eight percent. So it got up 0:03:43.680 --> 0:03:46.200 to that high of about sixty four thousand, and then 0:03:46.200 --> 0:03:49.320 it dropped all the way down, all the way down 0:03:49.320 --> 0:03:53.640 to about thirty dollars, and then for about two about 0:03:53.720 --> 0:03:56.680 two and a half months, it sat in what we 0:03:56.800 --> 0:04:00.240 call a range, and basically this range where it just 0:04:00.280 --> 0:04:03.760 basically moved around thirty, you know, thirty five thousand dollars 0:04:03.800 --> 0:04:06.520 for like two months straight. So when it's high up 0:04:06.520 --> 0:04:08.680 as sixty four thousand, all the way down to thirty 0:04:08.760 --> 0:04:12.119 thirty five thousand, and just stayed in that thirty range 0:04:12.120 --> 0:04:14.560 for two months, and then it took off again. When 0:04:14.600 --> 0:04:17.800 things build up, when when things consolidate, they start to 0:04:17.800 --> 0:04:21.120 build up energy and it builds for the next blast off. 0:04:21.160 --> 0:04:23.240 So it's kind of like, um, it's kind of like 0:04:23.279 --> 0:04:25.400 if you went out to like, uh, to go to 0:04:25.440 --> 0:04:28.039 go exercise. Hopefully you're doing that if you're not to 0:04:28.040 --> 0:04:31.680 exercise and neone to go walk and uh, if you're walking, 0:04:31.760 --> 0:04:33.920 you could probably walk for a really long time. Right. 0:04:34.240 --> 0:04:36.560 But let's say that you ran, Let's say that you 0:04:37.080 --> 0:04:40.200 um ran at of your max. Well, you could still 0:04:40.279 --> 0:04:42.359 run pretty far, but eventually have to take a break. Well, 0:04:42.400 --> 0:04:44.159 let's say you that you sprinted. Let's say that you 0:04:44.200 --> 0:04:46.000 did it all out, sprint as fast as you could 0:04:46.000 --> 0:04:48.960 possibly go. Well, you couldn't run as far, and then 0:04:49.000 --> 0:04:50.440 you have to take a break. You have to take 0:04:50.440 --> 0:04:51.760 a break and you have to catch your breath before 0:04:51.760 --> 0:04:53.799 you could run again. And that's kind of like the markets. 0:04:53.960 --> 0:04:55.919 When the markets go up at a very slow pace, 0:04:56.279 --> 0:04:57.760 they can do that for a long period of time, 0:04:58.000 --> 0:05:01.760 but when they run super fast and super hard, then 0:05:01.800 --> 0:05:03.680 they have to they have to catch their breath. And 0:05:03.680 --> 0:05:06.719 that's kind of what happened. So then UM we saw 0:05:07.080 --> 0:05:10.200 it was into July July thirty one, UM it started 0:05:10.240 --> 0:05:14.919 taking off again and it went from um from about 0:05:14.960 --> 0:05:19.560 thirty thousand and um at at at the end of July, 0:05:19.640 --> 0:05:22.440 about thirty thousand in July, all the way to sixty 0:05:22.640 --> 0:05:27.039 nine thousand about two. Well, November twelve, that was a 0:05:27.040 --> 0:05:29.520 pretty good run. Now, of course it it had some pullback, 0:05:29.640 --> 0:05:34.800 so we saw um September six, it pulled back and 0:05:34.839 --> 0:05:37.600 then kept going um, you know, and and we saw 0:05:37.680 --> 0:05:40.800 lots of those pullbacks. We saw October ninete it pulled 0:05:40.800 --> 0:05:42.920 back another fifteen percent, but it got up to six 0:05:43.120 --> 0:05:45.839 thousand dollar high and now it's pulling back. But what's 0:05:45.880 --> 0:05:49.000 interesting this time is now it looks like it's consolidating 0:05:49.040 --> 0:05:52.320 around the fifty thousand dollar range. So a couple of 0:05:52.360 --> 0:05:54.640 months ago it consolidated at thirty So year and a 0:05:54.640 --> 0:05:57.120 half ago was three thousand runt to sixty four, and 0:05:57.160 --> 0:05:59.560 then it consolidated around a thirty thousand dollar level. It's 0:05:59.560 --> 0:06:02.400 pretty good then from thirty of last up to sixty nine, 0:06:02.680 --> 0:06:04.160 and it pulled back and now it looks like it's 0:06:04.160 --> 0:06:07.520 consolidated around a fifty dollar level. But you see it's 0:06:07.560 --> 0:06:11.719 the lower I'm sorry, the higher lows, the higher lows. 0:06:11.800 --> 0:06:14.040 That's what we're looking at. If you look at bitcoin 0:06:14.120 --> 0:06:17.400 on a zoomed out chart, you'll see that every year 0:06:17.760 --> 0:06:20.400 since the beginning, for the last twelve years, the lowest 0:06:20.520 --> 0:06:22.919 point of every year, the lowest price of every single 0:06:23.000 --> 0:06:27.880 year has always been higher except for one year, and 0:06:27.880 --> 0:06:30.720 so that's what we're looking for, lower or higher lows, 0:06:31.000 --> 0:06:32.640 and that's what we're doing. So anyway, you know, it's 0:06:32.640 --> 0:06:34.320 down a little bit um, but it looks like it's 0:06:34.320 --> 0:06:36.120 building up steam. As a matter of fact, that I 0:06:36.120 --> 0:06:37.960 was in Miami all last week doing a bunch of 0:06:38.000 --> 0:06:40.560 meetings and recording that show I was just talking about, 0:06:40.800 --> 0:06:44.720 and I was, um blessed to get to go to 0:06:45.279 --> 0:06:48.320 Michael Sailor's house. I went to Michael Sailor's house for 0:06:48.360 --> 0:06:51.400 a barbecue and it was pretty amazing. If have you 0:06:51.400 --> 0:06:53.400 guys have been following bitcoin, then of course he probably 0:06:53.400 --> 0:06:56.720 doesn't need any introduction. If you do need an introduction, 0:06:56.760 --> 0:06:58.919 he's probably one of the smartest guys UM in the 0:06:58.920 --> 0:07:03.520 bitcoin space. He's m I t Um literally an M 0:07:03.560 --> 0:07:07.400 I t Rocket scientist UM. He owns more Bitcoin than 0:07:07.400 --> 0:07:09.960 any other person out there, and he continues to buy. 0:07:10.040 --> 0:07:11.720 And I had got to hang out out of barbecue 0:07:11.720 --> 0:07:13.640 his house. It's pretty cool, and we were talking about 0:07:13.680 --> 0:07:16.320 this specifically, and he basically said the exact same thing 0:07:16.320 --> 0:07:19.040 I'm telling you right now, which is it looks like 0:07:19.040 --> 0:07:21.480 bitcoin is just pulled back. It looks like it's just 0:07:21.520 --> 0:07:25.239 building up some momentum, some some energy, and I expected 0:07:25.320 --> 0:07:29.200 to blast off again and so, um, you know, he's 0:07:29.200 --> 0:07:31.000 on the radio talking to you, but I'm able to 0:07:31.040 --> 0:07:33.520 interpret that for you. So that's kind of where we're 0:07:33.560 --> 0:07:36.320 at with the price. But remember the price is a 0:07:36.400 --> 0:07:41.720 short term distraction. What we're really looking for is two things. One, 0:07:41.800 --> 0:07:44.720 the growth of the network, is the network growing, and 0:07:44.880 --> 0:07:48.480 two is the development on the network growing. Those are 0:07:48.520 --> 0:07:51.040 the two main things that we need to be watching 0:07:51.080 --> 0:07:54.160 out for. And as long as those two things are 0:07:54.160 --> 0:07:57.200 going good, then the price will take care of itself. 0:07:57.360 --> 0:08:00.760 So let's talk about those two things, because there has 0:08:00.800 --> 0:08:04.680 been some massive, massive, massive moves this week that I 0:08:04.720 --> 0:08:07.640 want to explain to you now talking about Michael Sailor 0:08:07.720 --> 0:08:10.920 real quickly back to him. For example, Um, this morning 0:08:11.000 --> 0:08:14.800 he posted on Twitter that he micro Strategy, his company 0:08:15.160 --> 0:08:18.920 purchased an additional one thousand, four hundred and thirty four 0:08:18.960 --> 0:08:22.000 bitcoins for eighty two million dollars in cash at an 0:08:22.000 --> 0:08:28.040 average price of fifty seven thousand dollars per bitcoin. What 0:08:28.920 --> 0:08:32.920 that was As of twelve nine one, they hold over 0:08:33.080 --> 0:08:39.160 one hundred and twenty two thousand bitcoin. Now, you might 0:08:39.240 --> 0:08:41.200 think that bitcoin is a scam. You might think the 0:08:41.240 --> 0:08:44.120 price of bitcoin is too expensive, but I would just 0:08:44.160 --> 0:08:46.640 ask you to check yourself. Are you smarter than Michael Sailor? 0:08:46.760 --> 0:08:49.240 Because I know a lot about bitcoin, I know a 0:08:49.280 --> 0:08:52.280 lot about economics, I know a lot about technology. There's 0:08:52.320 --> 0:08:55.240 no way I'm putting myself smarter than him. And he's 0:08:55.280 --> 0:08:57.840 buying at these prices. So I was at his house 0:08:57.920 --> 0:08:59.679 and barbecue. I told you what he said, and this 0:08:59.720 --> 0:09:02.960 is he posted this morning. He just bought another uh 0:09:03.000 --> 0:09:07.120 eight two million dollars worth of bitcoin. But again, the 0:09:07.120 --> 0:09:08.800 prices the distraction. We want to look at the network 0:09:08.840 --> 0:09:11.240 growth and development, and there's been big developments on both 0:09:11.280 --> 0:09:12.559 those fronts. This week. I want to talk to you 0:09:12.600 --> 0:09:14.800 about By the way, you're listening to the Mark Mos Show. 0:09:14.800 --> 0:09:18.680 We're talking about bitcoin, we're talking about cryptocurrency, we're talking 0:09:18.679 --> 0:09:22.200 about the decentralized revolution. I want to tell you about 0:09:22.800 --> 0:09:24.960 why they're growing as fast as they are. What's happening. 0:09:25.320 --> 0:09:27.640 So don't go away, I'm gonna be right back. All right, 0:09:27.679 --> 0:09:29.960 Welcome back. You are listening to the Mark ma Show 0:09:29.960 --> 0:09:33.360 where we're talking about bitcoin, we're talking about cryptocurrencies, and 0:09:33.400 --> 0:09:37.280 we are talking about the decentralized revolution. Of course, each end, 0:09:37.280 --> 0:09:40.360 every week I'm bringing you the latest information so you 0:09:40.400 --> 0:09:43.559 can participate, so you don't get left out on what 0:09:43.600 --> 0:09:46.600 I'm calling the biggest opportunity that you'll ever see in 0:09:46.640 --> 0:09:49.880 your lifetime, in multiple lifetimes. Now, before the break, we 0:09:49.880 --> 0:09:52.160 were talking about the price UM. The price has created 0:09:52.200 --> 0:09:53.400 all the way back down to where it was in 0:09:53.440 --> 0:09:57.440 October wam wham um. But but it's it's consolidating at 0:09:57.480 --> 0:09:59.760 about a fifty dollar range, where a few months ago 0:09:59.760 --> 0:10:02.120 it can all at a thirty thousand dollar range. That's 0:10:02.120 --> 0:10:04.720 a pretty big difference. Um. I'm pretty happy to see 0:10:04.720 --> 0:10:08.320 a consultation at the fifty range UM. And so that's 0:10:08.440 --> 0:10:11.480 that's one piece of it. But again it's the development 0:10:11.520 --> 0:10:13.400 that the network growth and development that we want to 0:10:13.400 --> 0:10:15.000 be watching. And so there's a lot of things that 0:10:15.040 --> 0:10:18.840 are happening on that front now. When I when we 0:10:18.920 --> 0:10:21.360 go and look back how I talked about how it 0:10:21.120 --> 0:10:23.640 it did get up to sixty had crashed all the 0:10:23.640 --> 0:10:26.200 way down to that thirty thousand dollar range. One of 0:10:26.240 --> 0:10:30.360 the biggest reasons why that happened is that China kicked 0:10:30.520 --> 0:10:33.120 all the bitcoin miners out of their out of their 0:10:33.160 --> 0:10:36.839 country now, Uh, that was one of the big things 0:10:36.880 --> 0:10:41.120 that people would criticize bitcoin for is that, well, you know, 0:10:41.679 --> 0:10:44.680 China controls all the mining. China could take over the 0:10:44.720 --> 0:10:47.840 network if they wanted. And you know, there was a 0:10:47.880 --> 0:10:49.720 little bit of truth to that. I mean, China did 0:10:49.760 --> 0:10:54.720 control over over fifty percent, maybe about sixty percent of 0:10:54.880 --> 0:10:57.480 all the bitcoin mining. And the way that this works 0:10:57.559 --> 0:11:00.800 is that the miners have to achieve consensus. So you 0:11:00.840 --> 0:11:05.520 need over of the network to agree to achieve consensus. UM. 0:11:05.559 --> 0:11:09.400 And so if if potentially six of the miners were 0:11:09.440 --> 0:11:12.280 situated in China, UM, that was a weak point. Now, 0:11:12.320 --> 0:11:14.560 the reality is it's not the miners that control the networks, 0:11:14.600 --> 0:11:18.920 the nodes. However, you know, it's still was somewhat true. UM. 0:11:18.960 --> 0:11:23.200 But earlier this year, China kicked all the bitcoin miners 0:11:23.240 --> 0:11:26.000 out of their country, So we don't want you here anymore. Now. 0:11:26.040 --> 0:11:29.160 I made a video on my YouTube channel called China's 0:11:29.440 --> 0:11:33.280 second fatal Mistake I know about. It's about twenty minute video, 0:11:33.280 --> 0:11:34.400 and I talked about why I think this is their 0:11:34.400 --> 0:11:36.360 second fatal mistake. Maybe I can explain to you on 0:11:36.360 --> 0:11:38.120 the radio at another time. Of course, you can go 0:11:38.120 --> 0:11:40.120 watch that video on my YouTube channel just Mark Moss 0:11:40.160 --> 0:11:43.079 and China second fatal mistake, but they kicked all the 0:11:43.120 --> 0:11:45.800 miners out. And basically it was the biggest attack the 0:11:45.840 --> 0:11:50.000 bitcoin network might have ever seen, where literally over half 0:11:50.320 --> 0:11:54.840 of the network was turned off almost overnight, like literally 0:11:54.840 --> 0:11:56.960 it was it was, it was at attack. It was 0:11:57.160 --> 0:12:01.000 exactly what people's worst fear was happened. And and China 0:12:01.040 --> 0:12:02.840 attack the network, shut all the miners down and kick 0:12:02.920 --> 0:12:05.679 him out of the country. Now, the way that this 0:12:05.760 --> 0:12:09.000 works is that you buy a specially built purpose computer 0:12:09.200 --> 0:12:13.080 that UM puts its processing power, it's hash power onto 0:12:13.080 --> 0:12:17.880 the network and helps secure it. I and that's called 0:12:18.040 --> 0:12:20.880 hash power. That's the power of the network, and it's 0:12:21.000 --> 0:12:25.400 measured in um equa equa hash. All right, that's I'm 0:12:25.400 --> 0:12:27.000 not going to get deep into the technical side, but 0:12:27.040 --> 0:12:30.960 that's that's how it's measured. And we saw that um 0:12:31.000 --> 0:12:34.200 it was at about a hundred and seventy five equa hash. 0:12:34.320 --> 0:12:36.920 That's how that's how many computers were plugged into the 0:12:36.920 --> 0:12:41.000 network and we're processing transactions at the time. Well, when 0:12:41.120 --> 0:12:46.240 China shut all their network down, we saw the network 0:12:46.720 --> 0:12:49.280 the hash rate drop all the way down to eighty 0:12:49.400 --> 0:12:53.520 four eighty four equash so about about in a half. Now, 0:12:53.880 --> 0:12:55.800 the Big Way network didn't skip a beat. As a 0:12:55.800 --> 0:12:57.640 matter of fact, it continued to pump out a block 0:12:57.720 --> 0:13:00.960 by block by block every ten minutes. Now, you know, 0:13:01.080 --> 0:13:02.839 some of the some of the transactions slowed down a 0:13:02.840 --> 0:13:04.200 little bit, maybe you paid a little bit more for 0:13:04.200 --> 0:13:06.839 a transaction, but it continued to work over and over 0:13:06.880 --> 0:13:11.400 and over. However, imagine if a big network like Amazon, 0:13:11.520 --> 0:13:15.560 for example, if half their distribution were shut off overnight, 0:13:15.840 --> 0:13:17.760 how long would it take them to pick up all 0:13:17.800 --> 0:13:21.199 their distribution centers, move them across the world, set back up. 0:13:21.280 --> 0:13:23.800 What type of disruption would happen to the Amazon network? 0:13:24.160 --> 0:13:27.240 I mean to be catastrophic? Right, Well, the Bitcoin network 0:13:27.280 --> 0:13:29.280 didn't skip a beat. And as a matter of fact, 0:13:29.280 --> 0:13:31.600 not only did it not skip a beat, it's now 0:13:31.880 --> 0:13:36.680 back up over where it was pre China crackdown. So 0:13:36.760 --> 0:13:40.200 now we've seen all the hash power coming back. As 0:13:40.200 --> 0:13:42.000 a matter of fact, it's increased by a hundred and 0:13:42.040 --> 0:13:45.400 eight percent since June and then and the Bitcoin networks 0:13:45.440 --> 0:13:48.400 is is now performing the seven day ruling average of 0:13:48.400 --> 0:13:51.080 back to a hundred and seventy eight equa hash as 0:13:51.120 --> 0:13:55.520 of Wednesday, So it's right there where it was um, 0:13:55.800 --> 0:13:58.679 and I think that is a testament. I mean, it's 0:13:58.720 --> 0:14:01.360 one of the strong, longest examples that we can see 0:14:01.400 --> 0:14:03.840 of the resiliency of the Bitcoin network. So a lot 0:14:03.840 --> 0:14:05.720 of people can tell you whatever they want about any 0:14:05.720 --> 0:14:09.160 of the other cryptocurrencies, but none of them have been 0:14:09.200 --> 0:14:12.760 tested ever like what the Bitcoin network has done over 0:14:12.880 --> 0:14:15.280 and over and over. So it was the worst attack 0:14:15.320 --> 0:14:17.439 that you could ever see happen, and and and it 0:14:17.520 --> 0:14:19.440 hurt the network. Like I said, it caused the hash 0:14:19.560 --> 0:14:22.600 rate the processing power to drop almost in half. But 0:14:22.760 --> 0:14:25.560 as of this week, it is back. Baby is back. 0:14:26.000 --> 0:14:28.840 And so um, that's what I'm talking about. Is the 0:14:28.880 --> 0:14:33.000 network growing. Yes, we got more miners to come on 0:14:33.080 --> 0:14:36.480 board with more computers with more hash power, and we're 0:14:36.520 --> 0:14:39.920 bigger and stronger than we were before. The network is 0:14:39.960 --> 0:14:44.400 continuing to grow. It's awesome. So that's that's one big 0:14:44.440 --> 0:14:46.760 piece that we want to look at. Another big piece 0:14:46.760 --> 0:14:49.240 that we want to look at is the development on 0:14:49.320 --> 0:14:53.160 the network. What's happening on the development side, And there's 0:14:53.200 --> 0:14:56.720 always big stuff happening there as well. So one of 0:14:56.720 --> 0:14:58.800 the big things that we see is a lot of 0:14:58.840 --> 0:15:01.240 people talk about when is cryptocurrency You're going to have 0:15:01.320 --> 0:15:05.680 more adoption. Or um, you know, cryptocurrency won't take off 0:15:05.760 --> 0:15:09.360 until it's easier to spend, right, Um, I need it 0:15:09.360 --> 0:15:12.360 needs to be easier to make transactions. Or um, when 0:15:12.400 --> 0:15:14.440 can I go to my store? When can I go 0:15:14.520 --> 0:15:17.480 down to the store and spend my cryptocurrency? I hear 0:15:17.520 --> 0:15:21.040 these things all the time, right, Well, those days are coming, 0:15:21.200 --> 0:15:24.640 and they're coming fast and furious. As a matter of fact, 0:15:25.080 --> 0:15:29.720 we saw this week coin base announced So coin Bases 0:15:30.400 --> 0:15:33.320 probably I think it's the largest cryptocurrency exchange in the world. 0:15:33.360 --> 0:15:37.400 It's a publicly traded company. Um. They announced support for 0:15:37.560 --> 0:15:42.320 hardware wallet's starting with Ledger. So this is pretty cool. Now, 0:15:42.640 --> 0:15:44.200 if you've been tuned in each and every week, you 0:15:44.240 --> 0:15:47.480 hear me talk about security and securing your bitcoin, securing 0:15:47.480 --> 0:15:51.960 your cryptocurrency. Now, the oldest problem that mankind has had 0:15:52.080 --> 0:15:54.160 since the beginning of time, the oldest problem in the 0:15:54.240 --> 0:15:57.480 world is how do I secure my property in a 0:15:57.560 --> 0:16:01.840 way that can't be stolen. Well, bitcoin fixed that problem 0:16:01.840 --> 0:16:05.200 because now I can store my own wealth, I can 0:16:05.240 --> 0:16:07.800 control my bitcoin, I can store my keys in a 0:16:07.840 --> 0:16:10.720 way that's cryptographic, is secured, and nobody can take from me. 0:16:11.760 --> 0:16:13.880 But when I put them onto an exchange like coin 0:16:13.920 --> 0:16:17.160 Base or any of these other ones. I'm losing custody 0:16:17.200 --> 0:16:19.880 of my coins. I'm giving them to coin Base, and 0:16:19.920 --> 0:16:23.240 that creates something called counterparty risk. When I give it 0:16:23.240 --> 0:16:26.400 to them, I might not get it back. Well, that's 0:16:26.440 --> 0:16:29.600 a problem. So I don't like to put my money 0:16:29.600 --> 0:16:32.520 onto exchanges. I've told you some of my some of 0:16:32.560 --> 0:16:35.400 my losses, and some of my losses involved putting my 0:16:35.440 --> 0:16:38.160 money onto exchanges and not being able to get it 0:16:38.200 --> 0:16:40.960 back off again, it's a big risk. It happens to me. 0:16:41.080 --> 0:16:42.640 I've lost a lot of money. I'll tell you more 0:16:42.640 --> 0:16:44.600 about that story when my court case gets finished up 0:16:44.600 --> 0:16:48.800 here in a couple of weeks. Um, that's a big problem. 0:16:48.840 --> 0:16:51.240 And we saw this week that coin Base announced that 0:16:51.240 --> 0:16:55.680 it's going to support crypto hardware wallets starting with Ledger. 0:16:56.280 --> 0:16:59.280 All right, this is a really big deal that's going 0:16:59.320 --> 0:17:03.400 to continue to build the ecosystem. But then there's even 0:17:03.640 --> 0:17:08.240 bigger news, even bigger news that's going to help with 0:17:08.320 --> 0:17:10.800 this problem. Like I said, I, well, can I go 0:17:10.840 --> 0:17:13.359 to a store and buy things with my crypto? Who 0:17:13.440 --> 0:17:17.040 even takes crypto? Right? Well, that got solved as well. 0:17:17.040 --> 0:17:18.760 So I want to tell you about that as well. Remember, 0:17:18.800 --> 0:17:20.760 we don't want to watch the price on a regular basis, 0:17:20.760 --> 0:17:22.040 We want to look at the price on a very 0:17:22.160 --> 0:17:25.040 zoomed out basis. But we do want to watch for 0:17:25.200 --> 0:17:28.080 on a regular basis is the growth of the network 0:17:28.560 --> 0:17:30.920 and the development on the network. And I talked about 0:17:30.960 --> 0:17:34.480 the hashway coming back, and now these two new things 0:17:34.480 --> 0:17:36.600 that coin Base rolled out, I think is going to 0:17:36.800 --> 0:17:41.600 exponentially increase the market share of bitcoin and cryptocurrencies. Can 0:17:41.760 --> 0:17:43.640 tell you about those two things. By the way, you're 0:17:43.640 --> 0:17:46.000 listening to the Mark Moa Show, and of course we're 0:17:46.359 --> 0:17:48.440 if you're just tuning in. We're talking about bitcoin, we're 0:17:48.440 --> 0:17:52.919 talking about cryptocurrencies. We're talking about the de centralized revolution 0:17:53.000 --> 0:17:55.760 that we are living through that we're witnessing right now. 0:17:56.520 --> 0:17:59.080 But we're talking about the growth of the network and 0:17:59.119 --> 0:18:01.240 how fast these are grow, right, how fast they're going 0:18:01.280 --> 0:18:03.440 to be changing the world, how fast adoption will come. 0:18:03.800 --> 0:18:06.080 Don't go away, I'll be right back. Hey, welcome back. 0:18:06.119 --> 0:18:08.439 You're listening to the markma Show. We're talking about bitcoin, 0:18:08.480 --> 0:18:13.360 we're talking about cryptocurrencies, we're talking about the decentralized revolution. Now, 0:18:13.359 --> 0:18:16.320 before the break, we were talking about kind of what 0:18:16.359 --> 0:18:18.879 I always talk about, which is stop looking at the 0:18:18.880 --> 0:18:22.639 price every day. Uh, anybody's looking at any investment. I 0:18:22.680 --> 0:18:24.560 don't care what investment it is. If you're looking at 0:18:24.600 --> 0:18:27.480 on a daily or a weekly or a monthly basis, 0:18:27.720 --> 0:18:30.800 you're never gonna make it now unless you're a day trader, 0:18:30.840 --> 0:18:34.359 which I don't recommend. But you know, assets, especially ones 0:18:34.400 --> 0:18:38.080 that are are revolutionary, that are new, that are life changing, 0:18:38.160 --> 0:18:40.960 they take time to develop and so you have to 0:18:40.960 --> 0:18:42.439 give them time. So we don't want to look at 0:18:42.440 --> 0:18:44.200 the price on a regular basis. What we do want 0:18:44.240 --> 0:18:46.320 to be watching out for is the news. We do 0:18:46.400 --> 0:18:48.360 want to be looking at the growth of the network 0:18:48.400 --> 0:18:51.399 and the development on the network. Now, I was talking 0:18:51.400 --> 0:18:55.320 about how um the bitcoin price, even though it's a distraction, 0:18:55.480 --> 0:18:57.320 is continuing to go higher. Even though it's down a 0:18:57.359 --> 0:18:59.959 little bit today, it's down at a higher level than 0:19:00.000 --> 0:19:02.120 it was down a few months ago. So that's that's 0:19:02.119 --> 0:19:04.280 called higher lows. That's a good thing. But I was 0:19:04.320 --> 0:19:05.720 talking about and then I was talking abou how the 0:19:05.760 --> 0:19:07.679 hash rate for the bitcoin network has gotten back to 0:19:07.720 --> 0:19:11.520 its previous high before the China ban. That's super super bullish. 0:19:11.560 --> 0:19:13.800 But I was talking about coin base, which is the 0:19:13.880 --> 0:19:17.440 largest exchange, the publicly traded company, and now they want 0:19:17.480 --> 0:19:20.639 to support crypto hardware wallets. So a hardware wallet is 0:19:20.640 --> 0:19:23.760 a device that's like like a little USB drive treasure 0:19:24.119 --> 0:19:26.120 or this one specifically that they started working with. It's 0:19:26.160 --> 0:19:29.639 called Ledger. So it's a little hardware wallet, like a 0:19:29.640 --> 0:19:31.679 little USB device, And what it does is it stores 0:19:31.760 --> 0:19:36.480 my private key. And basically the way that cryptocurrencies work 0:19:36.560 --> 0:19:40.080 is that I could have there's two addresses. There's imagine 0:19:40.119 --> 0:19:43.320 like at high school, Um, you have a locker and 0:19:43.359 --> 0:19:45.880 that locker is like C nineteen and I'm like, hey, 0:19:45.920 --> 0:19:47.879 my my locker C nineteen and goll put this envelope 0:19:47.880 --> 0:19:50.359 in there. So that's my public address, and anybody can 0:19:50.359 --> 0:19:53.399 go put something in my my locker, but I hold 0:19:53.440 --> 0:19:56.760 the private key to open that locker. And that's how 0:19:56.760 --> 0:19:59.159 cryptocurrencies work. So I have a public address, any a 0:19:59.160 --> 0:20:01.359 public address and a big and send money, but I 0:20:01.560 --> 0:20:04.000 hold my private key that allows me to open that 0:20:04.040 --> 0:20:06.280 locker and transfer that money if I want to. And 0:20:06.320 --> 0:20:08.879 so if I have my money on an exchange like 0:20:08.920 --> 0:20:12.200 coin based, then they hold my private key. But if 0:20:12.240 --> 0:20:15.600 I use a wallet like Ledger, then I hold my 0:20:15.680 --> 0:20:17.439 private key and I like to use it in a 0:20:17.440 --> 0:20:20.960 hardware wall like Ledger, because that private key never goes 0:20:21.119 --> 0:20:24.159