Speaker 1: Hey, everyone, Welcome back to another episode of The Markma Show,
Speaker 1: where we're talking about bitcoin each and every week. Of course,
Speaker 1: we're talking about bitcoin, cryptocurrencies and the decentralized revolution that
Speaker 1: we're living through that we're witnessing right now. It's pretty
Speaker 1: exciting if you step back and just just admire that
Speaker 1: we are literally witnessing history being written. We're seeing one
Speaker 1: of the biggest technological revolutions that we will ever witness,
Speaker 1: that we've ever witnessed. And like I said, a lot,
Speaker 1: the future of humanity is going to be changed now.
Speaker 1: I don't say that lightly. As a matter of fact,
Speaker 1: I was just a guest on one of the biggest
Speaker 1: bitcoin podcast in and out there. It's called What Bitcoin Did,
Speaker 1: and I laid down a thesis in about two two
Speaker 1: and a half hours, which is a lot more than
Speaker 1: I can do with you on my radio here, and
Speaker 1: I laid out what I'm calling is the battle for
Speaker 1: the fate of humanity. Wow. That's pretty heavy, isn't it.
Speaker 1: And I don't mean that in a hyperbole way. I
Speaker 1: mean that legitimately. I think that's really where we're at,
Speaker 1: and I think bitcoin is the tool that allows us
Speaker 1: to win that battle. For the Fate of Humanity. Again,
Speaker 1: it's a long interview. It's more than I can go
Speaker 1: over here. But if you just do a quick Google
Speaker 1: search mark Moss battle for the Fate of Humanity, what
Speaker 1: Bitcoin did, you will find that interview. But I'm trying
Speaker 1: to fill you in bit by bit each and every week.
Speaker 1: I want this to be the most important, the most
Speaker 1: profitable point of your week. So make sure to uh
Speaker 1: set I ever set a calendar reminder on your phone
Speaker 1: right now for this channel this time, and join me. Now.
Speaker 1: After I just tell you how big that is, then
Speaker 1: I'm gonna go backwards a little bit and I'm gonna
Speaker 1: tell you about the price. Now. I say that reluctantly
Speaker 1: because I do believe the price is a short term distraction.
Speaker 1: The price is a short term distraction. I think it's
Speaker 1: also what I call the bait and switch. People get
Speaker 1: sucked in um for the price and then they stay
Speaker 1: for everything else that it brings. But let's talk about
Speaker 1: the price for a minute, because it's all over the
Speaker 1: news this week because the price it's a bitcoin crashed.
Speaker 1: It crashed this week all the way down to the
Speaker 1: price that it was in October. Oh my gosh, I
Speaker 1: can't believe it. Of course, I'm saying that sarcastically. So
Speaker 1: we're all the way back to where we were about
Speaker 1: October four, which is about two months of games that
Speaker 1: we kind of wiped off the plate, which sounds bad
Speaker 1: at first, but if we want to put that into perspective,
Speaker 1: March of last year, we're at about thirty five dollars
Speaker 1: and today we're sitting about forty eight thousand dollars. So
Speaker 1: still looking pretty good, but it doesn't really tell the
Speaker 1: whole picture. What really tells a more accurate picture is
Speaker 1: when you look at it, you know, over this longer
Speaker 1: term time frame. And so I think if I explain
Speaker 1: this to you, gets a little bit of perspective. And
Speaker 1: so we were at you know, as low as like
Speaker 1: thirty now we're at dollars. But the perspective is that
Speaker 1: it ran from that thirty low up to about sixty
Speaker 1: four thousand dollars in um April of this year. And
Speaker 1: that was a pretty dramatic run. Now, it didn't go
Speaker 1: up in a straight line, as a matter of fact, UM,
Speaker 1: it ran pretty hot and heavy. UM. In January the
Speaker 1: price dropped about eight percent UM. Then we saw, you know,
Speaker 1: run pretty hot and heavy again until February, and then
Speaker 1: the price dropped another and then it ran pretty hot
Speaker 1: and heavy until the next month March, where it dropped
Speaker 1: another uh and then it ran pretty hot and heavy
Speaker 1: till the next month where it dropped percent. Are you
Speaker 1: getting the idea every month? And then it ran pretty
Speaker 1: hot and heavy till the next month May eleven, where
Speaker 1: it then dropped forty eight percent. So it got up
Speaker 1: to that high of about sixty four thousand, and then
Speaker 1: it dropped all the way down, all the way down
Speaker 1: to about thirty dollars, and then for about two about
Speaker 1: two and a half months, it sat in what we
Speaker 1: call a range, and basically this range where it just
Speaker 1: basically moved around thirty, you know, thirty five thousand dollars
Speaker 1: for like two months straight. So when it's high up
Speaker 1: as sixty four thousand, all the way down to thirty
Speaker 1: thirty five thousand, and just stayed in that thirty range
Speaker 1: for two months, and then it took off again. When
Speaker 1: things build up, when when things consolidate, they start to
Speaker 1: build up energy and it builds for the next blast off.
Speaker 1: So it's kind of like, um, it's kind of like
Speaker 1: if you went out to like, uh, to go to
Speaker 1: go exercise. Hopefully you're doing that if you're not to
Speaker 1: exercise and neone to go walk and uh, if you're walking,
Speaker 1: you could probably walk for a really long time. Right.
Speaker 1: But let's say that you ran, Let's say that you
Speaker 1: um ran at of your max. Well, you could still
Speaker 1: run pretty far, but eventually have to take a break. Well,
Speaker 1: let's say you that you sprinted. Let's say that you
Speaker 1: did it all out, sprint as fast as you could
Speaker 1: possibly go. Well, you couldn't run as far, and then
Speaker 1: you have to take a break. You have to take
Speaker 1: a break and you have to catch your breath before
Speaker 1: you could run again. And that's kind of like the markets.
Speaker 1: When the markets go up at a very slow pace,
Speaker 1: they can do that for a long period of time,
Speaker 1: but when they run super fast and super hard, then
Speaker 1: they have to they have to catch their breath. And
Speaker 1: that's kind of what happened. So then UM we saw
Speaker 1: it was into July July thirty one, UM it started
Speaker 1: taking off again and it went from um from about
Speaker 1: thirty thousand and um at at at the end of July,
Speaker 1: about thirty thousand in July, all the way to sixty
Speaker 1: nine thousand about two. Well, November twelve, that was a
Speaker 1: pretty good run. Now, of course it it had some pullback,
Speaker 1: so we saw um September six, it pulled back and
Speaker 1: then kept going um, you know, and and we saw
Speaker 1: lots of those pullbacks. We saw October ninete it pulled
Speaker 1: back another fifteen percent, but it got up to six
Speaker 1: thousand dollar high and now it's pulling back. But what's
Speaker 1: interesting this time is now it looks like it's consolidating
Speaker 1: around the fifty thousand dollar range. So a couple of
Speaker 1: months ago it consolidated at thirty So year and a
Speaker 1: half ago was three thousand runt to sixty four, and
Speaker 1: then it consolidated around a thirty thousand dollar level. It's
Speaker 1: pretty good then from thirty of last up to sixty nine,
Speaker 1: and it pulled back and now it looks like it's
Speaker 1: consolidated around a fifty dollar level. But you see it's
Speaker 1: the lower I'm sorry, the higher lows, the higher lows.
Speaker 1: That's what we're looking at. If you look at bitcoin
Speaker 1: on a zoomed out chart, you'll see that every year
Speaker 1: since the beginning, for the last twelve years, the lowest
Speaker 1: point of every year, the lowest price of every single
Speaker 1: year has always been higher except for one year, and
Speaker 1: so that's what we're looking for, lower or higher lows,
Speaker 1: and that's what we're doing. So anyway, you know, it's
Speaker 1: down a little bit um, but it looks like it's
Speaker 1: building up steam. As a matter of fact, that I
Speaker 1: was in Miami all last week doing a bunch of
Speaker 1: meetings and recording that show I was just talking about,
Speaker 1: and I was, um blessed to get to go to
Speaker 1: Michael Sailor's house. I went to Michael Sailor's house for
Speaker 1: a barbecue and it was pretty amazing. If have you
Speaker 1: guys have been following bitcoin, then of course he probably
Speaker 1: doesn't need any introduction. If you do need an introduction,
Speaker 1: he's probably one of the smartest guys UM in the
Speaker 1: bitcoin space. He's m I t Um literally an M
Speaker 1: I t Rocket scientist UM. He owns more Bitcoin than
Speaker 1: any other person out there, and he continues to buy.
Speaker 1: And I had got to hang out out of barbecue
Speaker 1: his house. It's pretty cool, and we were talking about
Speaker 1: this specifically, and he basically said the exact same thing
Speaker 1: I'm telling you right now, which is it looks like
Speaker 1: bitcoin is just pulled back. It looks like it's just
Speaker 1: building up some momentum, some some energy, and I expected
Speaker 1: to blast off again and so, um, you know, he's
Speaker 1: on the radio talking to you, but I'm able to
Speaker 1: interpret that for you. So that's kind of where we're
Speaker 1: at with the price. But remember the price is a
Speaker 1: short term distraction. What we're really looking for is two things. One,
Speaker 1: the growth of the network, is the network growing, and
Speaker 1: two is the development on the network growing. Those are
Speaker 1: the two main things that we need to be watching
Speaker 1: out for. And as long as those two things are
Speaker 1: going good, then the price will take care of itself.
Speaker 1: So let's talk about those two things, because there has
Speaker 1: been some massive, massive, massive moves this week that I
Speaker 1: want to explain to you now talking about Michael Sailor
Speaker 1: real quickly back to him. For example, Um, this morning
Speaker 1: he posted on Twitter that he micro Strategy, his company
Speaker 1: purchased an additional one thousand, four hundred and thirty four
Speaker 1: bitcoins for eighty two million dollars in cash at an
Speaker 1: average price of fifty seven thousand dollars per bitcoin. What
Speaker 1: that was As of twelve nine one, they hold over
Speaker 1: one hundred and twenty two thousand bitcoin. Now, you might
Speaker 1: think that bitcoin is a scam. You might think the
Speaker 1: price of bitcoin is too expensive, but I would just
Speaker 1: ask you to check yourself. Are you smarter than Michael Sailor?
Speaker 1: Because I know a lot about bitcoin, I know a
Speaker 1: lot about economics, I know a lot about technology. There's
Speaker 1: no way I'm putting myself smarter than him. And he's
Speaker 1: buying at these prices. So I was at his house
Speaker 1: and barbecue. I told you what he said, and this
Speaker 1: is he posted this morning. He just bought another uh
Speaker 1: eight two million dollars worth of bitcoin. But again, the
Speaker 1: prices the distraction. We want to look at the network
Speaker 1: growth and development, and there's been big developments on both
Speaker 1: those fronts. This week. I want to talk to you
Speaker 1: about By the way, you're listening to the Mark Mos Show.
Speaker 1: We're talking about bitcoin, we're talking about cryptocurrency, we're talking
Speaker 1: about the decentralized revolution. I want to tell you about
Speaker 1: why they're growing as fast as they are. What's happening.
Speaker 1: So don't go away, I'm gonna be right back. All right,
Speaker 1: Welcome back. You are listening to the Mark ma Show
Speaker 1: where we're talking about bitcoin, we're talking about cryptocurrencies, and
Speaker 1: we are talking about the decentralized revolution. Of course, each end,
Speaker 1: every week I'm bringing you the latest information so you
Speaker 1: can participate, so you don't get left out on what
Speaker 1: I'm calling the biggest opportunity that you'll ever see in
Speaker 1: your lifetime, in multiple lifetimes. Now, before the break, we
Speaker 1: were talking about the price UM. The price has created
Speaker 1: all the way back down to where it was in
Speaker 1: October wam wham um. But but it's it's consolidating at
Speaker 1: about a fifty dollar range, where a few months ago
Speaker 1: it can all at a thirty thousand dollar range. That's
Speaker 1: a pretty big difference. Um. I'm pretty happy to see
Speaker 1: a consultation at the fifty range UM. And so that's
Speaker 1: that's one piece of it. But again it's the development
Speaker 1: that the network growth and development that we want to
Speaker 1: be watching. And so there's a lot of things that
Speaker 1: are happening on that front now. When I when we
Speaker 1: go and look back how I talked about how it
Speaker 1: it did get up to sixty had crashed all the
Speaker 1: way down to that thirty thousand dollar range. One of
Speaker 1: the biggest reasons why that happened is that China kicked
Speaker 1: all the bitcoin miners out of their out of their
Speaker 1: country now, Uh, that was one of the big things
Speaker 1: that people would criticize bitcoin for is that, well, you know,
Speaker 1: China controls all the mining. China could take over the
Speaker 1: network if they wanted. And you know, there was a
Speaker 1: little bit of truth to that. I mean, China did
Speaker 1: control over over fifty percent, maybe about sixty percent of
Speaker 1: all the bitcoin mining. And the way that this works
Speaker 1: is that the miners have to achieve consensus. So you
Speaker 1: need over of the network to agree to achieve consensus. UM.
Speaker 1: And so if if potentially six of the miners were
Speaker 1: situated in China, UM, that was a weak point. Now,
Speaker 1: the reality is it's not the miners that control the networks,
Speaker 1: the nodes. However, you know, it's still was somewhat true. UM.
Speaker 1: But earlier this year, China kicked all the bitcoin miners
Speaker 1: out of their country, So we don't want you here anymore. Now.
Speaker 1: I made a video on my YouTube channel called China's
Speaker 1: second fatal Mistake I know about. It's about twenty minute video,
Speaker 1: and I talked about why I think this is their
Speaker 1: second fatal mistake. Maybe I can explain to you on
Speaker 1: the radio at another time. Of course, you can go
Speaker 1: watch that video on my YouTube channel just Mark Moss
Speaker 1: and China second fatal mistake, but they kicked all the
Speaker 1: miners out. And basically it was the biggest attack the
Speaker 1: bitcoin network might have ever seen, where literally over half
Speaker 1: of the network was turned off almost overnight, like literally
Speaker 1: it was it was, it was at attack. It was
Speaker 1: exactly what people's worst fear was happened. And and China
Speaker 1: attack the network, shut all the miners down and kick
Speaker 1: him out of the country. Now, the way that this
Speaker 1: works is that you buy a specially built purpose computer
Speaker 1: that UM puts its processing power, it's hash power onto
Speaker 1: the network and helps secure it. I and that's called
Speaker 1: hash power. That's the power of the network, and it's
Speaker 1: measured in um equa equa hash. All right, that's I'm
Speaker 1: not going to get deep into the technical side, but
Speaker 1: that's that's how it's measured. And we saw that um
Speaker 1: it was at about a hundred and seventy five equa hash.
Speaker 1: That's how that's how many computers were plugged into the
Speaker 1: network and we're processing transactions at the time. Well, when
Speaker 1: China shut all their network down, we saw the network
Speaker 1: the hash rate drop all the way down to eighty
Speaker 1: four eighty four equash so about about in a half. Now,
Speaker 1: the Big Way network didn't skip a beat. As a
Speaker 1: matter of fact, it continued to pump out a block
Speaker 1: by block by block every ten minutes. Now, you know,
Speaker 1: some of the some of the transactions slowed down a
Speaker 1: little bit, maybe you paid a little bit more for
Speaker 1: a transaction, but it continued to work over and over
Speaker 1: and over. However, imagine if a big network like Amazon,
Speaker 1: for example, if half their distribution were shut off overnight,
Speaker 1: how long would it take them to pick up all
Speaker 1: their distribution centers, move them across the world, set back up.
Speaker 1: What type of disruption would happen to the Amazon network?
Speaker 1: I mean to be catastrophic? Right, Well, the Bitcoin network
Speaker 1: didn't skip a beat. And as a matter of fact,
Speaker 1: not only did it not skip a beat, it's now
Speaker 1: back up over where it was pre China crackdown. So
Speaker 1: now we've seen all the hash power coming back. As
Speaker 1: a matter of fact, it's increased by a hundred and
Speaker 1: eight percent since June and then and the Bitcoin networks
Speaker 1: is is now performing the seven day ruling average of
Speaker 1: back to a hundred and seventy eight equa hash as
Speaker 1: of Wednesday, So it's right there where it was um,
Speaker 1: and I think that is a testament. I mean, it's
Speaker 1: one of the strong, longest examples that we can see
Speaker 1: of the resiliency of the Bitcoin network. So a lot
Speaker 1: of people can tell you whatever they want about any
Speaker 1: of the other cryptocurrencies, but none of them have been
Speaker 1: tested ever like what the Bitcoin network has done over
Speaker 1: and over and over. So it was the worst attack
Speaker 1: that you could ever see happen, and and and it
Speaker 1: hurt the network. Like I said, it caused the hash
Speaker 1: rate the processing power to drop almost in half. But
Speaker 1: as of this week, it is back. Baby is back.
Speaker 1: And so um, that's what I'm talking about. Is the
Speaker 1: network growing. Yes, we got more miners to come on
Speaker 1: board with more computers with more hash power, and we're
Speaker 1: bigger and stronger than we were before. The network is
Speaker 1: continuing to grow. It's awesome. So that's that's one big
Speaker 1: piece that we want to look at. Another big piece
Speaker 1: that we want to look at is the development on
Speaker 1: the network. What's happening on the development side, And there's
Speaker 1: always big stuff happening there as well. So one of
Speaker 1: the big things that we see is a lot of
Speaker 1: people talk about when is cryptocurrency You're going to have
Speaker 1: more adoption. Or um, you know, cryptocurrency won't take off
Speaker 1: until it's easier to spend, right, Um, I need it
Speaker 1: needs to be easier to make transactions. Or um, when
Speaker 1: can I go to my store? When can I go
Speaker 1: down to the store and spend my cryptocurrency? I hear
Speaker 1: these things all the time, right, Well, those days are coming,
Speaker 1: and they're coming fast and furious. As a matter of fact,
Speaker 1: we saw this week coin base announced So coin Bases
Speaker 1: probably I think it's the largest cryptocurrency exchange in the world.
Speaker 1: It's a publicly traded company. Um. They announced support for
Speaker 1: hardware wallet's starting with Ledger. So this is pretty cool. Now,
Speaker 1: if you've been tuned in each and every week, you
Speaker 1: hear me talk about security and securing your bitcoin, securing
Speaker 1: your cryptocurrency. Now, the oldest problem that mankind has had
Speaker 1: since the beginning of time, the oldest problem in the
Speaker 1: world is how do I secure my property in a
Speaker 1: way that can't be stolen. Well, bitcoin fixed that problem
Speaker 1: because now I can store my own wealth, I can
Speaker 1: control my bitcoin, I can store my keys in a
Speaker 1: way that's cryptographic, is secured, and nobody can take from me.
Speaker 1: But when I put them onto an exchange like coin
Speaker 1: Base or any of these other ones. I'm losing custody
Speaker 1: of my coins. I'm giving them to coin Base, and
Speaker 1: that creates something called counterparty risk. When I give it
Speaker 1: to them, I might not get it back. Well, that's
Speaker 1: a problem. So I don't like to put my money
Speaker 1: onto exchanges. I've told you some of my some of
Speaker 1: my losses, and some of my losses involved putting my
Speaker 1: money onto exchanges and not being able to get it
Speaker 1: back off again, it's a big risk. It happens to me.
Speaker 1: I've lost a lot of money. I'll tell you more
Speaker 1: about that story when my court case gets finished up
Speaker 1: here in a couple of weeks. Um, that's a big problem.
Speaker 1: And we saw this week that coin Base announced that
Speaker 1: it's going to support crypto hardware wallets starting with Ledger.
Speaker 1: All right, this is a really big deal that's going
Speaker 1: to continue to build the ecosystem. But then there's even
Speaker 1: bigger news, even bigger news that's going to help with
Speaker 1: this problem. Like I said, I, well, can I go
Speaker 1: to a store and buy things with my crypto? Who
Speaker 1: even takes crypto? Right? Well, that got solved as well.
Speaker 1: So I want to tell you about that as well. Remember,
Speaker 1: we don't want to watch the price on a regular basis,
Speaker 1: We want to look at the price on a very
Speaker 1: zoomed out basis. But we do want to watch for
Speaker 1: on a regular basis is the growth of the network
Speaker 1: and the development on the network. And I talked about
Speaker 1: the hashway coming back, and now these two new things
Speaker 1: that coin Base rolled out, I think is going to
Speaker 1: exponentially increase the market share of bitcoin and cryptocurrencies. Can
Speaker 1: tell you about those two things. By the way, you're
Speaker 1: listening to the Mark Moa Show, and of course we're
Speaker 1: if you're just tuning in. We're talking about bitcoin, we're
Speaker 1: talking about cryptocurrencies. We're talking about the de centralized revolution
Speaker 1: that we are living through that we're witnessing right now.
Speaker 1: But we're talking about the growth of the network and
Speaker 1: how fast these are grow, right, how fast they're going
Speaker 1: to be changing the world, how fast adoption will come.
Speaker 1: Don't go away, I'll be right back. Hey, welcome back.
Speaker 1: You're listening to the markma Show. We're talking about bitcoin,
Speaker 1: we're talking about cryptocurrencies, we're talking about the decentralized revolution. Now,
Speaker 1: before the break, we were talking about kind of what
Speaker 1: I always talk about, which is stop looking at the
Speaker 1: price every day. Uh, anybody's looking at any investment. I
Speaker 1: don't care what investment it is. If you're looking at
Speaker 1: on a daily or a weekly or a monthly basis,
Speaker 1: you're never gonna make it now unless you're a day trader,
Speaker 1: which I don't recommend. But you know, assets, especially ones
Speaker 1: that are are revolutionary, that are new, that are life changing,
Speaker 1: they take time to develop and so you have to
Speaker 1: give them time. So we don't want to look at
Speaker 1: the price on a regular basis. What we do want
Speaker 1: to be watching out for is the news. We do
Speaker 1: want to be looking at the growth of the network
Speaker 1: and the development on the network. Now, I was talking
Speaker 1: about how um the bitcoin price, even though it's a distraction,
Speaker 1: is continuing to go higher. Even though it's down a
Speaker 1: little bit today, it's down at a higher level than
Speaker 1: it was down a few months ago. So that's that's
Speaker 1: called higher lows. That's a good thing. But I was
Speaker 1: talking about and then I was talking abou how the
Speaker 1: hash rate for the bitcoin network has gotten back to
Speaker 1: its previous high before the China ban. That's super super bullish.
Speaker 1: But I was talking about coin base, which is the
Speaker 1: largest exchange, the publicly traded company, and now they want
Speaker 1: to support crypto hardware wallets. So a hardware wallet is
Speaker 1: a device that's like like a little USB drive treasure
Speaker 1: or this one specifically that they started working with. It's
Speaker 1: called Ledger. So it's a little hardware wallet, like a
Speaker 1: little USB device, And what it does is it stores
Speaker 1: my private key. And basically the way that cryptocurrencies work
Speaker 1: is that I could have there's two addresses. There's imagine
Speaker 1: like at high school, Um, you have a locker and
Speaker 1: that locker is like C nineteen and I'm like, hey,
Speaker 1: my my locker C nineteen and goll put this envelope
Speaker 1: in there. So that's my public address, and anybody can
Speaker 1: go put something in my my locker, but I hold
Speaker 1: the private key to open that locker. And that's how
Speaker 1: cryptocurrencies work. So I have a public address, any a
Speaker 1: public address and a big and send money, but I
Speaker 1: hold my private key that allows me to open that
Speaker 1: locker and transfer that money if I want to. And
Speaker 1: so if I have my money on an exchange like
Speaker 1: coin based, then they hold my private key. But if
Speaker 1: I use a wallet like Ledger, then I hold my
Speaker 1: private key and I like to use it in a
Speaker 1: hardware wall like Ledger, because that private key never goes
Speaker 1: onto an internet connected device. It's on this little USB device.
Speaker 1: I plug it into my computer to sign the transaction
Speaker 1: to unlock it, and then I unplug it, so it's
Speaker 1: never sitting on the computer. But the problem with coin
Speaker 1: bases or any exchange is when I give them when
Speaker 1: I when I put my my my assets on there,
Speaker 1: I'm giving them my key and there's a chance I
Speaker 1: don't get them back. Well, coin base now has an
Speaker 1: extension that allows me to connect my Ledger hardware wallet,
Speaker 1: so it allows me to maintain self custody, allows me
Speaker 1: to keep full control over my assets, but still be
Speaker 1: able to exchange them if I want to. And that
Speaker 1: is pretty massive. Now, as I was saying before, the
Speaker 1: the the oldest problem that man kind has had since
Speaker 1: beginn time is how do I secure my assets in
Speaker 1: a way that don't are that that can't be stolen.
Speaker 1: And that's what cryptocurrency, that's what bitcoin solves. But again,
Speaker 1: every time I put them onto an exchange, I lose
Speaker 1: that UM. And so now this is a way where
Speaker 1: I can hold my own private key, UM, I can
Speaker 1: still exchange to have to put it on there, and
Speaker 1: that is pretty amazing. That's the development that we're talking
Speaker 1: about now. This is scheduled to be rolled out in
Speaker 1: the first quarter of two, So don't log into your
Speaker 1: coin basic account when you when you're listening to me
Speaker 1: right now, I expect to have it in there. UM.
Speaker 1: But again, we're trying to pay attention to the development
Speaker 1: that's going on, and this is massive development. Um. Coin
Speaker 1: based claims to have over seventy three million customers globally,
Speaker 1: over ten thousand institutions, over a hundred and eighty five
Speaker 1: thousand application developers. And every time I have to transfer
Speaker 1: my funds on or off of bitcoin or any exchange
Speaker 1: for that matter, there's risk I could put the number
Speaker 1: we're in wrong, a hacker could get it, something could happen.
Speaker 1: And if I never have to give up my private key,
Speaker 1: I can hold it. It's pretty amazing. It's a really
Speaker 1: really big step for someone like coin based to roll out.
Speaker 1: I'm super bullish on it. But that is not all.
Speaker 1: That's not all. There's something even more. By the way,
Speaker 1: if you're just tuning in, you're listening to the Mark
Speaker 1: Moa show, we're talking about bitcoin. We're talking about cryptocurrencies.
Speaker 1: We're talking about the decentralized revolution. We're talking about how
Speaker 1: the two most important things to watch out for when
Speaker 1: you're listening to the when you're paying attention to bitcoin
Speaker 1: and cryptocurrencies is the growth of the network, the users
Speaker 1: and the development that's happening, and says what we're talking
Speaker 1: about right now, and on top of the coin base
Speaker 1: and the Ledger news, there's something even bigger. And as
Speaker 1: I was saying earlier, one of the big things that
Speaker 1: we hear is when is mass adoption gonna come? Like
Speaker 1: you still can't use cryptocurrencies to buy anything, you know,
Speaker 1: all these things. As a matter of fact, Christine Legarde,
Speaker 1: she's used to be ahead of the the i m F,
Speaker 1: the International Monetary Fund. Now she's head of the ECB,
Speaker 1: the European Central Bank. She went on the news though
Speaker 1: a week a week or two ago, and she said
Speaker 1: cryptocurrencies are not a currency full stop Like okay, like
Speaker 1: so full stop. So that means like what does that mean?
Speaker 1: Full stop? So that means that I can't come back
Speaker 1: with a response I got that is like a mic
Speaker 1: drop or whatever. Anyways, she said cryptocurrencies are not a
Speaker 1: currency full stop well, currency is technically anything that can
Speaker 1: be used as a medium of exchange. A currency could
Speaker 1: be anything that could be used as a medium exchange.
Speaker 1: And you and I, if we're trading goods and services,
Speaker 1: we can decide what we wanted a medium exchange. It's
Speaker 1: not for her to tell us. It's not for anyone
Speaker 1: to tell us. You and I, if we're doing exchange,
Speaker 1: we decide what the medium exchanges. So she said it's
Speaker 1: not a medium exchange, it's not a currency. Well she's wrong,
Speaker 1: because new news came out this week Ledger talking about
Speaker 1: Ledger Steel, they have debuted a new debit card that
Speaker 1: enables users to buy goods and services with their digital assets.
Speaker 1: What you mean, Christine, the Guard is wrong. It is
Speaker 1: it can be used a currency, That's what I'm saying.
Speaker 1: This potentially opens the doors to wider adoption of crypto
Speaker 1: payment services. All right. They're calling this the Crypto Life Card,
Speaker 1: and it was introduced at ledgers UM meeting this week.
Speaker 1: And basically, when you use this Ledger hardware wallet, so again,
Speaker 1: this Harbor wallet stores my key and I have like
Speaker 1: this interface UM that I use it with, and the
Speaker 1: debit card is linked to this interface it's like a
Speaker 1: desktop or mobile application. And then it allows me to
Speaker 1: use this this wallet in this interface to buy um
Speaker 1: or or swap out different cryptocurrencies. And then the card
Speaker 1: UM this this debit card supports you know, it works
Speaker 1: in the ecosystem, and it supports um, bitcoin, ethereum and
Speaker 1: some stable coins all right, and the card holders anyone
Speaker 1: has the card, has the option of instantly converting their
Speaker 1: cryptocurrency into fiat for the purpose of spending it, as
Speaker 1: well as obtaining line of credit using your digital assets
Speaker 1: as collateral, so you can keep your bitcoin and then
Speaker 1: if you want to make a purchase, at the point
Speaker 1: of purchasing, can automatically converted into Fiat for me, and
Speaker 1: then I can do that. Also, if I don't want
Speaker 1: to sell my bitcoin, if I don't want to convert
Speaker 1: it over, it will instantly give me a loan against
Speaker 1: my bitcoin ethereum as collateral, which is pretty cool. So
Speaker 1: basically UM, I can just use my debic card any
Speaker 1: where I want, and on top of that, I can
Speaker 1: deposit my paycheck into this and then I can select
Speaker 1: which percentage of my income I want converted into Bitcoin,
Speaker 1: ethereum or stable coins, so I can have my paycheck
Speaker 1: directly deposit in there, and I say I want fIF
Speaker 1: in bitcoin, I want and ethereum and the rest I
Speaker 1: wanted stable coin or whatever. You can automatically do that.
Speaker 1: So my, my, my, I'm getting paid in bitcoin that
Speaker 1: way and direct deposit, and then I have a debit
Speaker 1: card hooked at that, and then I can spend off
Speaker 1: of my bitcoin on my stable coin, or I don't
Speaker 1: have to spend my bitcoin. I can just borrow against
Speaker 1: my bitcoin to spend right on that. So that means
Speaker 1: I can go to any store anywhere that the visa
Speaker 1: card has accepted, which is pretty much everywhere in the world,
Speaker 1: and I can spend directly from my bitcoin. So wait, wait,
Speaker 1: Christine the guard said it's not a currency, Well I
Speaker 1: share as he can use it now for buying anything
Speaker 1: I want. So all those people that are telling you
Speaker 1: it's never going to achieve any market penetration, never gonna
Speaker 1: achieve adoption because you can't go buy stuff with it,
Speaker 1: well they're wrong. Um. This card is set to launch
Speaker 1: in the first quarter of two So if you're in
Speaker 1: the United States, Um, actually that's going out to the UK, France,
Speaker 1: and Germany first, and then it's gonna have a second
Speaker 1: quarter rollout in the United States. UM, so look forward
Speaker 1: to the the second quarter of next year in the United States.
Speaker 1: But there's there's This is just from Ledger. There's plenty
Speaker 1: of other ones that are available. This is not the
Speaker 1: this is not the only one that's available. It was
Speaker 1: just big news that was out this week that I
Speaker 1: thought we would talk about, because remember, the two most
Speaker 1: important things to pay attention to our the growth of
Speaker 1: the network, how many users are using it, and the
Speaker 1: development and I think this handles both of those at
Speaker 1: the exact same time. Um, these payments are going to
Speaker 1: be a huge use case. You're listening to the Marketma Show.
Speaker 1: We're talking about bitcoin. We're talking about cryptocurrencies. We're talking
Speaker 1: about this decentralized revolution. We're literally witnessing history being made
Speaker 1: right now. I'm here with you each and every week
Speaker 1: giving you the news that you need to survive. And
Speaker 1: I have more coming up right away, So don't go away,
Speaker 1: all right, everyone, welcome back. You're listening to the Mark
Speaker 1: Moa Show. We're talking about bitcoin. We're talking about cryptocurrencies.
Speaker 1: We're talking about the decentralized revolution that we're all living through.
Speaker 1: We're all witnessing in real time. It's the biggest opportunity
Speaker 1: you'll ever have in your life, that it's the biggest
Speaker 1: opportunity you will have in multiple lifetimes. And the way
Speaker 1: that you participate in these opportunities is by having information
Speaker 1: that most people don't have, which is I'm trying to
Speaker 1: bring to you each and every week. I'm trying to
Speaker 1: give you the education that you need to learn how
Speaker 1: to navigate. I'm trying to give you the news that
Speaker 1: you need to stay on top of it. And of
Speaker 1: course I'm trying to make it fun. I'm trying to
Speaker 1: make it entertaining. I'm trying to bring you some of
Speaker 1: the best guests, some of the best experts in the
Speaker 1: world to give you even more perspective. And you know,
Speaker 1: so you don't get bored up here in my voice
Speaker 1: all the time. But you know, we've been talking about
Speaker 1: the growth of the network, the development on the network,
Speaker 1: and some things that have been happening. Um, we talked
Speaker 1: about that before the break. We talked about how we're
Speaker 1: about to see some massive adoption. We're one of the
Speaker 1: biggest things, the biggest objections that people have to say
Speaker 1: is that, um, you know, you can't use bitcoin and cryptocurrencies.
Speaker 1: I can't use it to buy anything, no stores take it.
Speaker 1: Blah blah blah blah blah. Well, Um, what I was
Speaker 1: talking about before the break is how um a new
Speaker 1: debit card is coming out where I can have I
Speaker 1: can choose to have my paycheck deposited directly deposited into
Speaker 1: my crypto account. I can decide how much I want
Speaker 1: to go into bitcoin, how much into ethereum, how much
Speaker 1: in the stable cooin, etcetera. And then I can use
Speaker 1: my visa debit card anywhere that visas accepted and spend
Speaker 1: right off my cryptocurrencies. And so that big objection that
Speaker 1: everybody says, that's gone. And I think this is gonna
Speaker 1: be huge for the adoption of the space, which is
Speaker 1: pretty cool. Now, there is one big problem with this,
Speaker 1: which you don't hear talked about very often, but I'm
Speaker 1: was going to give it to you straight here, and
Speaker 1: that is that people say that, oh, yeah, the government's
Speaker 1: just going to regulate cryptocurrencies, and my response to that
Speaker 1: is yeah, they are. As a matter of fact, cryptocurrencies.
Speaker 1: Bitcoin is the most regulated asset there is already. It's
Speaker 1: already all right, Um, the I R S ruled in
Speaker 1: that bitcoin is considered property and that they tax it
Speaker 1: like property. So that means that the that means that
Speaker 1: the I r S taxes bitcoin directly like they would
Speaker 1: tax stocks or gold or real estate or anything else
Speaker 1: like that. UM, and so they're already regulating it. And
Speaker 1: so the problem with spending your cryptocurrency, your bitcoin or
Speaker 1: another cryptocurrency is that, because it's property, anytime you sell
Speaker 1: that cryptocurrency, it's a taxable event. And so if you're
Speaker 1: gonna go buy a cup of coffee for two bucks
Speaker 1: or five bucks or however much that a lot take
Speaker 1: costs these days, that's a taxable event. And do you
Speaker 1: really want to go create all these little taxable events
Speaker 1: for all these little micro purchases and then have to
Speaker 1: deal with all that paperwork and have your account and
Speaker 1: deal with all that. For me, I say no. So
Speaker 1: while it's cool that I can go spend my crypto
Speaker 1: on anything that I want, UM, I don't really want
Speaker 1: to do that. I think. I think for me, I
Speaker 1: like to spend my feat and then I'll save my cryptocurrency.
Speaker 1: So that's kind of the way that I focus on that.
Speaker 1: UM and some other big news that happened this week
Speaker 1: that I think is important. I've been I've been hit
Speaker 1: up a bunch on this information, so I thought I
Speaker 1: talked about it real quickly. Is that, you know, there's
Speaker 1: this mysterious inventor of cryptocurrency and a lot of people
Speaker 1: don't know who it is. Who is the inventor of bitcoin?
Speaker 1: And they say, you know, who is the Setoshi Nakamoto?
Speaker 1: And until we can figure out who the Toshi guy is,
Speaker 1: I can't trust it. And to that I would say, well,
Speaker 1: can you tell me who the developer of the t
Speaker 1: c P i P protocol is that the entire Internet
Speaker 1: is built off of. Can you tell me the name
Speaker 1: of the top two engineers that worked on the Google
Speaker 1: search engine that you use every day? And of course,
Speaker 1: can you tell me who invented you know and whatever?
Speaker 1: And of course the answer is no. And so I
Speaker 1: would say to that it doesn't really matter. But there's
Speaker 1: somebody by the name of Craig Right, who I hate
Speaker 1: to even mention because he's such a scammer and a fraudster,
Speaker 1: but he's been going around to everybody. He's Satoshi Nakamoto,
Speaker 1: he is the rightful owner of bitcoin, and um, all
Speaker 1: these things right and Um, it's pretty ridiculous in my mind. Um,
Speaker 1: if you look at all the things that Setoshi Nakamoto said, so, Um,
Speaker 1: there was tons of message boards and and things. There's
Speaker 1: actually something called the Book of Satoshi where they've collected
Speaker 1: all the contributions to the message boards that he made
Speaker 1: of these things and they put it into a book.
Speaker 1: And if you look at the things that he said,
Speaker 1: the things that he did, Um, and now you look
Speaker 1: at this guy Craig right, clearly not the same person.
Speaker 1: So Nakamoto created the greatest um technological achievement in the
Speaker 1: history of the world, has created a massive amounts of
Speaker 1: wealth and gave it away for free. Gave it away
Speaker 1: for free. This guy is trying to claim that he
Speaker 1: is that guy and uh and take it over and
Speaker 1: take control over it. So so Toca Nakamoto created something open, decentralized,
Speaker 1: something that nobody can control, and gave it away for free.
Speaker 1: This guy is trying to pretend that he owns it
Speaker 1: and he wants to take it over and control it.
Speaker 1: I think that pretty much goes against everything that it
Speaker 1: was started for. But this week, the reason why I
Speaker 1: bring it up is this week there was a big
Speaker 1: case in Florida where um, basically, um, this guy Craig Right,
Speaker 1: and he had another partner and Dave Kleiman and Dave
Speaker 1: Climon is now deceased, but his family was going after
Speaker 1: Craig Right and saying that Craig Right owes him a
Speaker 1: bunch of money that he never paid him, and this
Speaker 1: and that, and Craig Right it's like, no, that's not true,
Speaker 1: and sitting with this his big battle. So Craig Right
Speaker 1: is fighting a bunch of lawsuits all over the place.
Speaker 1: He's he's fighting lawsuits. Um, And I think at the
Speaker 1: end of the day, in my opinion, the reason why
Speaker 1: he's doing this is that Bitcoin. I talked about this before,
Speaker 1: but Bitcoin was forked in two thousand seventeen, and so
Speaker 1: they made a copy of the database and they created
Speaker 1: bitcoin cash. And if if when Bitcoin was forked into
Speaker 1: bitcoin cash, anybody that owned Bitcoin now owned one Bitcoin
Speaker 1: and one bitcoin cash token. And then when bitcoin cash
Speaker 1: was forked eventually to bitcoin SV, anyone who owned one
Speaker 1: bitcoin cash got one Bitcoin SV. Well, Craig Right was
Speaker 1: one of the founders of bitcoin SV and the original
Speaker 1: tokens that were locked up from Setoshi Nakamoto that are
Speaker 1: worth hundreds of billions of dollars um that those tokens
Speaker 1: have never been used. Those tokens have never been moved
Speaker 1: because to Toshi is gone, he's disappeared. Nobody has access
Speaker 1: to that. Those keys are lost, and so of course
Speaker 1: everybody says, hey, Craig, right, if you're really a Tocian Lacamoto,
Speaker 1: then where's your keys? Sign a transaction, prove that you
Speaker 1: prove that, you prove that you are him. If if
Speaker 1: you're really him, then you can sign the transaction right,
Speaker 1: prove it. And of course he can't do that. But
Speaker 1: I think what happens is um I talked about in
Speaker 1: a previous episode how these smaller chains, smaller blockchains, they
Speaker 1: can be easily taken over if you just get enough
Speaker 1: hash power, and when you take over the network to
Speaker 1: take over the blockchain, you can roll back transactions. And
Speaker 1: I think what he's trying to do. And this is
Speaker 1: shout out to Stacy Herbert from from Orange Bill Pod
Speaker 1: with Max Kaiser. She's the one that gave me this thesis.
Speaker 1: But I agree with her, and I think what's happening
Speaker 1: is if he can prove that he is actually or
Speaker 1: if a court would say that he is a Tocian Kamoto. Um,
Speaker 1: then he might have the legal grounds to roll back
Speaker 1: the bitcoin SV chains. The bitcoin SV chain is so
Speaker 1: small that with just a little bit of hash power,
Speaker 1: you can roll it backwards, and he could gain access
Speaker 1: to all those coins that were created because of the
Speaker 1: fork of the fork. Now if he did that now
Speaker 1: without any legal president, without the courts agreeing to that,
Speaker 1: of course, anybody that holds the big WINSV is going
Speaker 1: to sue him to eternity. But if he can get
Speaker 1: the courts to agree, oh yeah, I think, yeah, you
Speaker 1: probably are Statocian Kamoto, then he could prove a legal
Speaker 1: claim as to why he should be allowed to do that,
Speaker 1: and then he could get access to all those tokens,
Speaker 1: which could be billions of dollars. I think that's his
Speaker 1: master plan. But anyway, back to the story at hand.
Speaker 1: So this week, um, this, this, this went to court
Speaker 1: and uh in Florida, the judge declared that uh, um no, uh,
Speaker 1: he doesn't he doesn't win this case. The case didn't question,
Speaker 1: didn't even consider the question of Satoshi's real identity, and
Speaker 1: the plaintiff, Ira climon Um was suing on behalf of
Speaker 1: the brother Dave climbing and basically said that. Um, the
Speaker 1: court said, know right, you're a fraud, and as a
Speaker 1: matter of fact, you owe Climbing now a hundred million dollars. Um,
Speaker 1: you know, for all the problems that you've caused for them.
Speaker 1: So the judge actually ruled that this guy, Craig Right,
Speaker 1: owes the climbing family a hundred million dollars. And now
Speaker 1: Setoshi Nakamoto, I'm sorry, Craig Right, pretending to be Stoshi,
Speaker 1: is now coming out saying this was a big success
Speaker 1: for me. Um, this was great. Um, wait a minute,
Speaker 1: didn't she just get ordered to pay a hundred million dollars?
Speaker 1: But he says, no, this is great because they didn't
Speaker 1: say that I wasn't Setoshi Nakamoto. So his his scam
Speaker 1: continues on. UM, I bring this to light only because
Speaker 1: people have asked me about it. I just want you
Speaker 1: to be aware that this is just a big scam
Speaker 1: and I would ignore it from that point forward. UM.
Speaker 1: So that's the news that we have for the week.
Speaker 1: You're listening to the Mark Moa show. We're talking about bitcoin,
Speaker 1: we're talking about cryptocurrencies, we're talking about the decentralized revolution. Um,
Speaker 1: I'm here with you each and every week. Thanks so
Speaker 1: much for listening,