WEBVTT - The Mark Moss Show Nov 19, 2021 0:00:00.080 --> 0:00:02.680 Hey everyone, welcome back to another episode of The Mark 0:00:02.880 --> 0:00:06.040 Moss Show, and we are of course talking about bitcoin. 0:00:06.120 --> 0:00:10.840 We're talking about cryptocurrencies in this decentralized revolution that is 0:00:10.880 --> 0:00:13.960 happening right now. As I like to say, this is 0:00:14.040 --> 0:00:17.279 the biggest opportunity that you'll ever see in your life. 0:00:17.280 --> 0:00:20.159 And it's literally going to change the world as we 0:00:20.200 --> 0:00:22.640 see it. And so make sure you tune in each 0:00:22.640 --> 0:00:25.479 and every week, make a note of this time, this channel, 0:00:25.960 --> 0:00:28.760 and get back here so you do not miss out. 0:00:29.600 --> 0:00:32.640 I try to explain to you what's going on and 0:00:32.720 --> 0:00:36.000 most importantly why you should care. You know, it's important 0:00:36.000 --> 0:00:39.680 to understand this you can take advantage of the opportunity. Otherwise, Um, 0:00:39.720 --> 0:00:41.760 if you don't understand, you get shaken out, like as 0:00:41.760 --> 0:00:44.120 we call them, the weekends, the paper hands that don't 0:00:44.159 --> 0:00:47.879 really understand what's at stake, what we're doing here. So, um, 0:00:47.880 --> 0:00:50.559 this week, I have a good friend actually sitting in 0:00:50.600 --> 0:00:53.920 the studio with me. I got Alex Fetzki. Let's love Alex. 0:00:54.200 --> 0:00:56.040 What's up? Man, I am. I can look here in 0:00:56.040 --> 0:00:58.840 the eye now this is this is this is great. Yeah, man, 0:00:59.200 --> 0:01:01.040 this is ah, this is great. I love doing him 0:01:01.080 --> 0:01:05.280 in in uh in person and actually you're back at 0:01:05.360 --> 0:01:07.560 You were the first guest for the first episode that 0:01:07.600 --> 0:01:10.920 I did about six weeks ago. I think, so it's 0:01:11.040 --> 0:01:13.040 been that long. I think it's been I think it's 0:01:13.080 --> 0:01:14.720 been about six weeks. I think it was like the 0:01:14.720 --> 0:01:18.679 first week of October, the last six weeks ago. Man. Honestly, well, 0:01:18.720 --> 0:01:21.039 we've both both been working so dang hard trying to 0:01:21.080 --> 0:01:24.959 save the world, right, dude, I have no idea where 0:01:24.959 --> 0:01:28.600 the time is going. So alex Is alex is a 0:01:28.600 --> 0:01:31.039 good friend. He's from Australia, but he's been on the 0:01:31.120 --> 0:01:34.520 run because Australia was locked down and he was out 0:01:34.520 --> 0:01:36.280 of the country and he hasn't been back. So he's 0:01:36.319 --> 0:01:41.360 living this digital nomad life, um, and working on building 0:01:41.360 --> 0:01:44.880 a project on on bitcoin Amber. It's a new app 0:01:44.920 --> 0:01:49.080 that's going to revolutionize the way people, uh spend money online. 0:01:49.240 --> 0:01:52.080 We'll say that much. Um, I think it's pretty cool. 0:01:52.280 --> 0:01:55.160 How is how is uh? How is living a nomad 0:01:55.240 --> 0:01:57.880 life and trying to run a bitcoin company at the 0:01:57.960 --> 0:02:00.960 same time. It's um, it's act sleep. I'm gonna answer 0:02:01.000 --> 0:02:02.880 it this way. So I'm traveling with my girlfriend at 0:02:02.920 --> 0:02:07.720 the moment, and it's really it's insane. How far go 0:02:07.880 --> 0:02:09.480 in the world is at the moment, because it's like 0:02:09.560 --> 0:02:13.160 every time we part, for example, we're not sure if 0:02:13.160 --> 0:02:15.919 we're ever going to see each other again. And it's 0:02:15.919 --> 0:02:18.840 it's it's so insane, Like I think about it now, 0:02:18.880 --> 0:02:21.440 it's like the first time I we you know, we 0:02:21.440 --> 0:02:23.960 we met in Costa Rica six months ago whatever it was. 0:02:24.040 --> 0:02:25.760 So then I left to come into the US and 0:02:25.800 --> 0:02:27.400 I had no idea what was going to happen. It's like, 0:02:27.440 --> 0:02:29.400 you know, they weren't letting people across the land borders 0:02:29.480 --> 0:02:33.240 or this restriction, that restriction essential travel non essential travel, 0:02:33.280 --> 0:02:36.360 like you can't make heads and tails of anything. Um. 0:02:36.440 --> 0:02:39.480 And you know we had that experience, you know, coming 0:02:39.480 --> 0:02:43.000 across and then later it was from from Salvador back 0:02:43.040 --> 0:02:47.160 into the US, and then recently from um it's been 0:02:47.200 --> 0:02:51.560 a republic as well. So it's just like it's absolutely 0:02:51.800 --> 0:02:56.119 insane where I mean, the government has managed to take 0:02:56.160 --> 0:02:58.800 something that used to be an enjoyable process travel and 0:02:59.040 --> 0:03:04.680 literally death made it most ugly, nerve wracking, anxiety creating 0:03:05.120 --> 0:03:08.040 process on the planet. Now lay at that with UM, 0:03:08.600 --> 0:03:11.919 we're trying to run a business, I mean luckily luckily 0:03:12.200 --> 0:03:14.640 and crush like you know what we're doing as a 0:03:14.639 --> 0:03:19.120 bitcoin company is digital in nature. So let's say I 0:03:19.120 --> 0:03:22.560 get stuck in Mexico or Costa Eco or wherever, I 0:03:22.560 --> 0:03:25.000 can still work there. So long as I've so long 0:03:25.040 --> 0:03:26.679 as I have internet, you know, we can still run 0:03:26.680 --> 0:03:30.200 a business. And but it's just you actually can't make 0:03:30.200 --> 0:03:33.000 plans like human beings need to be able to make 0:03:33.000 --> 0:03:35.760 plans in order to make the future better, and you 0:03:35.800 --> 0:03:37.040 need to be able to execute on the plan at 0:03:37.040 --> 0:03:42.840 the moment. You have to have long term perspective. Anyway, 0:03:43.040 --> 0:03:45.400 we're we're we're sitting here recording right now, by the way, 0:03:45.400 --> 0:03:47.480 you listening to Mark my show. We're talking about bitcoin, 0:03:47.560 --> 0:03:51.480 and I'm actually recording from Miami, Florida, not my home, um, 0:03:51.560 --> 0:03:53.360 and We're sitting here in a hotel suite with all 0:03:53.360 --> 0:03:56.280 the equipment on the on the on the counter, which 0:03:56.280 --> 0:03:58.560 is pretty cool. But I'm having a live event, the 0:03:58.560 --> 0:04:01.640 market Disruptors, live dot com m event happening here. And 0:04:02.640 --> 0:04:04.160 you know, my business managers like, no, we need to 0:04:04.200 --> 0:04:06.040 do it next next year. We don't have enough time 0:04:06.080 --> 0:04:08.960 to get this planned. And because we kind of put 0:04:08.960 --> 0:04:10.840 it together in less than ninety days, and I'm like, 0:04:11.120 --> 0:04:12.920 I don't know if we can have it next year. 0:04:13.480 --> 0:04:15.520 I don't know where we'll even have it. Like the 0:04:15.560 --> 0:04:19.200 world is changing that fast, and just like you, like, um, 0:04:19.320 --> 0:04:22.040 nothing good comes quick. You have to have long term planning. 0:04:22.120 --> 0:04:24.520 And just to your point you said, um, the world 0:04:24.560 --> 0:04:28.000 is changing so fast, I would say traditionally that's a 0:04:28.000 --> 0:04:30.839 good thing. Like the world changing and adapting and transforming 0:04:30.839 --> 0:04:33.560 and evolving is good. At the moment, it's not changing, 0:04:34.360 --> 0:04:36.400 So maybe what we can say is that it's not 0:04:36.440 --> 0:04:39.160 progressing anymore. The world is not progressing, like I would 0:04:39.240 --> 0:04:42.080 argue that things are getting worse every month or every 0:04:42.160 --> 0:04:45.320 quarter every year, Like there is complete uncertainty and an 0:04:45.360 --> 0:04:48.120 inability to make a plan more than three months out. 0:04:48.120 --> 0:04:53.520 At the moment, you have no idea. What moronic idea 0:04:54.080 --> 0:04:56.280 the next politician who wants to make a name for 0:04:56.320 --> 0:04:59.039 himself is going to come up with when he rolls 0:04:59.080 --> 0:05:01.440 out of bed, and and you don't know what impact 0:05:01.440 --> 0:05:04.480 that's going to have on your business, your family, your 0:05:05.200 --> 0:05:08.560 your real estate, your house, your money, your bank account. 0:05:09.960 --> 0:05:13.680 Uncertainty cross the board. It's it's madness uncertainty. So I 0:05:13.720 --> 0:05:15.640 was writing a bunch of copy on the plane over 0:05:15.680 --> 0:05:17.520 here this morning from Puerto Rico and I was writing 0:05:17.520 --> 0:05:20.720 about uncertainty, and so, UM, with uncertainty, you know, we 0:05:20.760 --> 0:05:23.599 don't know exactly how things are going to unfold. And 0:05:23.640 --> 0:05:28.240 I was saying, how, um, with uncertainty, the way to 0:05:28.279 --> 0:05:31.720 beat uncertainty is to have more options optionality, and so 0:05:31.760 --> 0:05:34.480 we have to have more options. I guess that's one way. 0:05:35.040 --> 0:05:36.919 How do you think about that? Well? So, so I 0:05:36.960 --> 0:05:40.839 look at um. Tony Robbins has a really great framework 0:05:41.000 --> 0:05:43.839 for understanding human needs, right, and he breaks it up 0:05:43.880 --> 0:05:49.200 into certainty, uncertainty, significance, love, than growth, and contribution and 0:05:49.400 --> 0:05:53.120 each kind of like UM, part of a the polar 0:05:53.200 --> 0:05:56.280 on their spectrum. Right, So, uncertainty is the opposite of certainty. Now, 0:05:56.360 --> 0:05:58.320 you need to meet all needs in some way, shape 0:05:58.400 --> 0:06:01.520 or form, right now, most people, you know, they they 0:06:02.200 --> 0:06:06.599 gravitate towards you know, particular needs. Most people find themselves 0:06:06.600 --> 0:06:09.640 in a certainty and significance needs, but they find you know, 0:06:09.760 --> 0:06:13.000 really poor vehicles to meet those, etcetera, etcetera. But uncertainly 0:06:13.040 --> 0:06:15.599 is an interesting one because a lot of people avoid 0:06:15.800 --> 0:06:17.599 uncertainty and they never sort of meet that. They end 0:06:17.680 --> 0:06:20.479 up you know, living quite drab lives, you know that 0:06:20.520 --> 0:06:23.200 are just sort of monotonous, and they feel comfortable because 0:06:23.200 --> 0:06:25.840 their desire for certainty is so much greater and uncertainty. 0:06:25.960 --> 0:06:30.080 And your point about optionalities, that is a vehicle for 0:06:31.000 --> 0:06:34.040 managing uncertainty. Now we all need to meet in some way, 0:06:34.080 --> 0:06:38.040 shape or form, and being able to to live in 0:06:38.360 --> 0:06:43.240 an uncertain um, in an uncertain environment and still be 0:06:43.520 --> 0:06:47.800 internally certain is actually a rare skill and a very 0:06:47.800 --> 0:06:52.800 important skill. But in a world in which absolutely everything 0:06:52.839 --> 0:06:55.120 is uncertain, it's like it's it's kind of like running 0:06:55.120 --> 0:06:58.560 on top of quicksand like and you know, there's a 0:06:58.720 --> 0:07:01.240 there's a there's a dem nishing level of options. Like 0:07:01.279 --> 0:07:04.480 I've become very comfortable with being uncertain. I haven't had 0:07:04.480 --> 0:07:08.279 a home base forever two years. Now, I'm you know, 0:07:08.440 --> 0:07:11.960 I live out of a suitcase. I'm super super light. UM. 0:07:12.000 --> 0:07:14.480 I have optionality in the fact that I can basically 0:07:14.920 --> 0:07:19.800 go everywhere. Um. I have um, you know, let's let's 0:07:19.800 --> 0:07:23.640 call it a paperwork that allows me to travel in 0:07:24.000 --> 0:07:27.560 all sorts of places. And and I've created as much 0:07:27.600 --> 0:07:31.360 optionality as I can and as much lightness, so I'm 0:07:31.360 --> 0:07:35.680 not carrying lots of baggage metaphorically and literally speaking. But 0:07:35.760 --> 0:07:39.760 again it's you know, it's a gift in some senses, 0:07:39.800 --> 0:07:42.960 and it's taught me a very valuable skill at least 0:07:43.080 --> 0:07:45.200 for what I think will be really important over the 0:07:45.200 --> 0:07:50.640 coming five ten years. But I'm not. Um. Despite me 0:07:50.760 --> 0:07:54.440 having managed to cope and thrive in this scenario, it's 0:07:54.440 --> 0:07:57.720 not a nice way to live well because you can't. 0:07:57.760 --> 0:07:59.880 You can't you can't plan. You know, you think of 0:08:00.000 --> 0:08:02.440 out I was in what I was writing today, I 0:08:02.480 --> 0:08:05.280 was saying, it's uh, probably probably not that much different 0:08:05.320 --> 0:08:07.960 than um, you know, war torn countries. You know, people 0:08:07.960 --> 0:08:11.560 in Syria or even recently in Afghanistan like grab what 0:08:11.680 --> 0:08:13.320 you can and hop on a plane and like I 0:08:13.320 --> 0:08:16.080 don't know where I'm going, and like there's like no certainty. 0:08:16.120 --> 0:08:19.320 Those people that can't plan for the future. UM. So 0:08:20.400 --> 0:08:23.600 you're listening to the markma Show. We're talking about bitcoin. 0:08:23.640 --> 0:08:27.040 We're talking about this decentralized revolution that's happening. I'd like 0:08:27.160 --> 0:08:31.760 to talk about how bitcoin fixes this. Bitcoin fixes a 0:08:31.760 --> 0:08:37.040 big Bitcoin uh, gives us certainty in an uncertain world. Maybe, UM, 0:08:37.080 --> 0:08:42.400 I think maybe somehow bitcoin can fix not only that 0:08:42.520 --> 0:08:46.360 give us some certainty back, but also could fix um, 0:08:46.360 --> 0:08:48.760 some of these root causes. That's causing the uncertainty at 0:08:48.800 --> 0:08:51.360 the same time. So that's gonna be interesting conversation. Uh. 0:08:51.400 --> 0:08:52.600 So I want to talk about that. And then I 0:08:52.640 --> 0:08:57.560 also want to talk about UM. This this guy that's 0:08:57.600 --> 0:08:59.280 been making quite a bit of noise for some reason, 0:08:59.360 --> 0:09:02.400 people are spread and around Twitter. I don't know why. UM, 0:09:02.400 --> 0:09:05.360 but but he's basically saying that crypto is an attack 0:09:05.360 --> 0:09:08.839 on the dollar. Um. It's an ideological driven attack on 0:09:09.000 --> 0:09:14.480 legitimacy of fiat currency. It's funny he calls fiat currency legitimate. Um. 0:09:14.559 --> 0:09:16.839 And and then he said, uh, an attack on the 0:09:16.880 --> 0:09:19.520 financial system. Um. And so I want to talk about 0:09:19.559 --> 0:09:20.880 that when we get back. He said it, he said 0:09:20.920 --> 0:09:23.760 it's a sequel to the January six attack. UM. I 0:09:23.800 --> 0:09:26.160 think this guy's living off as Rocker. We're gonna talk 0:09:26.160 --> 0:09:27.800 about that. We're talking about how bit kin fixes this. 0:09:27.840 --> 0:09:29.840 We're gonna talk about how it gives us more certainty 0:09:29.880 --> 0:09:32.720 in an uncertain world. And we'll be right back. All right, 0:09:32.760 --> 0:09:34.880 welcome back. You are listening to the Mark Mos Show, 0:09:34.920 --> 0:09:37.599 and we are talking about bitcoin. We're talking about the 0:09:37.679 --> 0:09:43.520 cryptocurrency movement, the decentralized revolution that's happening right now. I'm 0:09:43.520 --> 0:09:45.679 in the studio right now sitting down with my good 0:09:45.720 --> 0:09:49.240 friend Alex Fetzki. He's back again in the studio. I 0:09:49.320 --> 0:09:52.000 love sitting down with Alex because he has Uh man, 0:09:52.280 --> 0:09:54.680 you're you're one of the You're one of the deepest 0:09:54.760 --> 0:09:57.800 thinkers that I know. You're very thoughtful. Even as you're talking, 0:09:57.880 --> 0:10:00.480 I can tell you're you're delivering over your It's it's 0:10:00.520 --> 0:10:03.719 pretty cool. I remember the first time. I remember I 0:10:03.840 --> 0:10:05.959 told you reading one of your original writings in the 0:10:06.080 --> 0:10:08.160 Bitcoin Times or whatever, and it was cool. And then, uh, 0:10:08.360 --> 0:10:09.880 then the first time I listened to you talking to 0:10:09.920 --> 0:10:12.440 Peter McCormick and you're like starting from the base build 0:10:12.480 --> 0:10:15.480 not it was, it was amazing. But getting back to 0:10:15.600 --> 0:10:17.680 kind of where we were talking about and before the break, 0:10:17.880 --> 0:10:20.719 talking about bitcoin and and how bitcoin fixes things, and 0:10:20.760 --> 0:10:22.760 we're talking about this crazy world that we're in where 0:10:23.160 --> 0:10:27.240 we have all this uncertainty being forced upon us. Everything's 0:10:27.280 --> 0:10:30.240 being forced upon us right now. Um, you've created some 0:10:30.320 --> 0:10:32.400 optionality by being mobile and things like that, but it 0:10:32.440 --> 0:10:35.360 causes problems because now you're not planning. But so how 0:10:35.400 --> 0:10:38.880 does bitcoin fix that? Yeah? So I think let's think 0:10:38.920 --> 0:10:42.360 of it about across two dimensions. So number one is 0:10:43.160 --> 0:10:45.400 at the moment, and I'm writing an article, and this 0:10:45.559 --> 0:10:48.439 is how like bitcoin is therapy. We're buying Bitcoin is therapy. 0:10:48.520 --> 0:10:52.240 It's like it's this anchor of truth or it's almost 0:10:52.280 --> 0:10:55.719 like a pulse or a hotbeat that is consistent. A 0:10:55.800 --> 0:10:59.400 bitcoin block is mind on average every ten minutes, irrespective 0:10:59.440 --> 0:11:02.480 of what happened on the planet. You know, this politician 0:11:02.559 --> 0:11:05.719 says that, this idiot does that, this person does that, 0:11:06.360 --> 0:11:09.760 no one actually cares, Like sorry, whilst everyone may care, 0:11:10.280 --> 0:11:12.920 Bitcoin doesn't care. It's just this kind of this heartbeat. 0:11:13.080 --> 0:11:15.040 It's just code, exactly, but but it's it's more than 0:11:15.120 --> 0:11:19.120 just code. It's it's it's literally a heartbeat in terms 0:11:19.160 --> 0:11:20.800 like I like to think a bit when as a 0:11:20.840 --> 0:11:23.439 time chain, not a blockchain, and so she used those 0:11:23.480 --> 0:11:26.880 words originally well before he used the word blockchain. But 0:11:26.960 --> 0:11:28.480 if we think about bitcoin, is this kind of this 0:11:28.679 --> 0:11:32.880 this pulse that is exists and it doesn't matter what 0:11:33.040 --> 0:11:35.480 happens in the world, we always have a pulse or 0:11:35.640 --> 0:11:40.120 this anchor to to come back to um. It's it's 0:11:40.160 --> 0:11:42.840 almost like a it's like a tethered to sanity, right, 0:11:43.120 --> 0:11:45.720 you know, there's Kyle Yung used to discuss this as well. 0:11:45.880 --> 0:11:48.520 He said that the reason why a lot of people 0:11:48.559 --> 0:11:52.000 when they started studying psychology and mess with psychedelics and um, 0:11:52.200 --> 0:11:56.120 you know, decided to do past life regressions and everything. 0:11:56.600 --> 0:11:58.520 If they didn't have an anchor or a tether back 0:11:58.559 --> 0:12:00.959 to reality, they would go off the deep end. And 0:12:01.080 --> 0:12:03.520 that was Young's theory about why Nittzsche went off the 0:12:03.559 --> 0:12:06.800 deep end um, which is quite an interesting analog to 0:12:07.160 --> 0:12:09.760 bitcoin at the moment, like everyone is lacking an anchor, 0:12:09.800 --> 0:12:12.360 Everyone is lacking a tether to something real and something 0:12:12.400 --> 0:12:15.480 that is always there irrespective of the madness that's happening. 0:12:15.520 --> 0:12:17.320 And for I think this is why I feel sorry 0:12:17.360 --> 0:12:19.439 for people who haven't discovered bitcoin yet. It's like, you know, 0:12:20.200 --> 0:12:22.880 everything has become relative. We're living in the nightmare of 0:12:22.960 --> 0:12:28.079 a relative utopian dystopia where nothing everything is meaningless um, 0:12:28.280 --> 0:12:31.319 and everything is different every single day, and that drives 0:12:31.440 --> 0:12:34.319 humans crazy, like we need to have some sort of zone. 0:12:34.360 --> 0:12:35.440 Do you need to know that the ground is going 0:12:35.480 --> 0:12:38.760 to be there before you start walking? And Bitcoin, for us, 0:12:38.800 --> 0:12:40.959 I think, is that tethered to to some sort of 0:12:41.840 --> 0:12:44.199 reality that is just pulsing in the background and it 0:12:44.280 --> 0:12:47.400 exists from the background noise of the universal most every 0:12:47.440 --> 0:12:51.040 ten minutes. Every every ten minutes, another hapens exactly, so 0:12:51.120 --> 0:12:55.319 it's alive. So that's one dimension. The other dimension is 0:12:55.559 --> 0:12:58.520 how bitcoin starts to reintroduce certainty into the world by 0:12:58.600 --> 0:13:00.520 fixing the money right. So so it's the one that 0:13:00.679 --> 0:13:02.679 more people talk about I think that more people are 0:13:02.800 --> 0:13:06.959 familiar with. Is when you have a sound money that 0:13:07.200 --> 0:13:10.960 is fixed in supply, that is incorruptible, where the where 0:13:10.960 --> 0:13:12.520 the rules are fixed, so we're all playing by the 0:13:12.559 --> 0:13:14.959 same rules. We can actually have an effective game, We 0:13:15.040 --> 0:13:16.959 can plan long term, we can do things because we 0:13:17.080 --> 0:13:19.000 know that there's no debatement of the money. We know 0:13:19.120 --> 0:13:20.439 that someone is not going to co opt it and 0:13:20.520 --> 0:13:22.719 control it. While you and I are working, the other 0:13:22.760 --> 0:13:25.360 person gets to push a button and make more money 0:13:25.400 --> 0:13:27.439 than will ever make no matter what we do with 0:13:27.480 --> 0:13:30.559 our lives. Like that, that unfairness of the game is removed. 0:13:31.240 --> 0:13:33.280 So so that's sort of like the second dimensional what 0:13:33.320 --> 0:13:35.880 bitcoin does. So so it's like today, it's like a 0:13:36.559 --> 0:13:39.560 it's a it's a tether to to sanity that allows 0:13:39.679 --> 0:13:41.240 us to realize that, hey, you know there is some 0:13:41.320 --> 0:13:44.280 truth here, there's something you know there, and then long 0:13:44.440 --> 0:13:49.520 term it helps transform the incentives via which humanity operates, 0:13:49.880 --> 0:13:52.199 so that we can start to bring some certainty back 0:13:52.200 --> 0:13:54.640 into our lives again as opposed to the madness at 0:13:54.640 --> 0:13:57.360 the moment. I think about when you were saying that, 0:13:57.400 --> 0:14:00.839 I was thinking about, you know, everything everything kind of 0:14:01.000 --> 0:14:04.160 breaks down to like economics and then like time being 0:14:04.200 --> 0:14:06.160 the most scarce thing. But I was thinking about, like 0:14:06.320 --> 0:14:10.439 Mesis talks about, like in economics there is no constant 0:14:10.760 --> 0:14:13.839 because you're always measuring one thing against another and those 0:14:13.880 --> 0:14:16.280 things are always changing. But then all of a sudden, 0:14:16.320 --> 0:14:20.200 Bitcoin is like a constant, Like it's not changing because 0:14:20.240 --> 0:14:22.240 the supply of oil is changing, the supply of gold 0:14:22.360 --> 0:14:25.200 is changing, right, so whatever you're using to measure is 0:14:25.200 --> 0:14:28.280 always getting more and less, easier, more or whatever. But 0:14:28.680 --> 0:14:31.320 bitcoin is not. Yeah, in a way. But I think 0:14:31.880 --> 0:14:35.320 the maybe the constant. I don't think Australian economists talked 0:14:35.320 --> 0:14:37.200 about this a lot, but the constant that they kind 0:14:37.240 --> 0:14:40.120 of used I think was times like this thing that 0:14:40.240 --> 0:14:43.280 it's like we're all bound by that constraint. So maybe 0:14:43.320 --> 0:14:44.960 they didn't talk about it as a constant. Maybe they 0:14:45.000 --> 0:14:47.280 talk about it more as a constraint and it's an 0:14:47.320 --> 0:14:49.960 equal constraint across all of us like, I mean, you 0:14:50.080 --> 0:14:52.680 got twenty four hours ago. I mean that's the one 0:14:52.720 --> 0:14:55.560 thing that we always have, right, Yeah, okay, yeah, I 0:14:55.600 --> 0:14:57.840 guess I hadn't thought about like that. So, um, so 0:14:58.000 --> 0:15:00.480 back to how does it fix it? So then over 0:15:00.560 --> 0:15:04.000 a long enough period of time, it puts right now, 0:15:04.120 --> 0:15:06.720 this is all being driven by policy, right, All this 0:15:06.840 --> 0:15:08.840 uncertainty in the world, whether you can travel and out 0:15:08.880 --> 0:15:10.320 of a country, or whether you can fly on a plane, 0:15:10.400 --> 0:15:12.160 or whether you can open your business or whether you 0:15:12.200 --> 0:15:15.080 can have that job, is all based off of man's policy. 0:15:15.880 --> 0:15:17.840 And so I guess over a line of period of time, 0:15:17.960 --> 0:15:22.160 it creates like a constraint that then um basically doesn't 0:15:22.160 --> 0:15:24.760 allow these politicians to have fun limited power to do that. Well, 0:15:24.800 --> 0:15:28.400 the idea is that it reintroduces consequence to decision making. 0:15:28.800 --> 0:15:30.920 So what's lacking at the moment is I can create 0:15:30.960 --> 0:15:33.600 a policy, and even if the policy is the dumbest 0:15:33.640 --> 0:15:35.360 policy on the planet, and it burns a bunch of 0:15:35.400 --> 0:15:37.800 money and destroys a bunch of businesses and everything, and 0:15:38.480 --> 0:15:42.000 the school card, which is our economy, starts to look bad, 0:15:42.280 --> 0:15:44.280 then what I do is I just go print some 0:15:44.320 --> 0:15:46.880 more money top up the school card. Make it look 0:15:46.960 --> 0:15:51.760 better and lie myself out of realizing that there's a problem. 0:15:52.360 --> 0:15:55.520 And bitcoin removes that capacity because you just can't print it, 0:15:55.560 --> 0:15:58.400 you can't borrow from the future, you can't just randomly 0:15:58.440 --> 0:16:02.880 taxes like but reintroducing consequence. What ends up happening is 0:16:03.320 --> 0:16:06.760 we have to make better policies and make better decisions 0:16:07.200 --> 0:16:10.680 on our path to organizing ourselves as humans, because that's 0:16:10.680 --> 0:16:13.400 what governing is, right, it's the organizational process. And at 0:16:13.400 --> 0:16:16.880 the moment, we're organizing ourselves blind, like literally blind, and 0:16:16.920 --> 0:16:20.280 then when it doesn't work, instead of actually fixing our behavior, 0:16:20.680 --> 0:16:22.280 we just lie to ourselves a little bit more and 0:16:22.320 --> 0:16:24.880 pretend it's okay. It's like flying a plane by removing 0:16:24.880 --> 0:16:26.680 the altimeter, and it's like the plane's telling you you're 0:16:26.680 --> 0:16:29.440 crushing and you're like, I have an idea, I'll remove 0:16:29.440 --> 0:16:32.560 the altimeter. I'll pull it out. Yeah, I mean, I 0:16:32.600 --> 0:16:35.520 guess when you have no consequences, there's no there's no 0:16:35.600 --> 0:16:39.200 feedback loop. There there is, I mean, we can see it, 0:16:39.320 --> 0:16:42.360 but the consequences aren't enough, aren't severe enough that caused 0:16:42.400 --> 0:16:44.840 them to force you know, change of course, so obviously, 0:16:45.200 --> 0:16:48.160 um the inflation rate, you know, CPI was over six percent. 0:16:48.240 --> 0:16:51.920 It's obviously way higher than that. Supply chains are breaking down. 0:16:52.360 --> 0:16:55.920 I mean, we're seeing the consequences. But then they're just gaslightiness. 0:16:56.760 --> 0:16:58.760 And the thing is they're saying the consequence is something else. 0:16:58.800 --> 0:17:01.800 They're like, oh, it's because because you haven't been vaccinated. 0:17:01.840 --> 0:17:05.480 It's because you uh, you know, adding to um global warming, 0:17:05.720 --> 0:17:08.800 they said. In my previous show, I was saying, they're 0:17:08.840 --> 0:17:11.600 they're saying the inflation is caused because of supply chains 0:17:11.600 --> 0:17:13.600 are breaking down. It's a well, it is it's a 0:17:13.680 --> 0:17:17.280 logistical problem. And I said, that's true, it is a 0:17:17.359 --> 0:17:21.320 logistical problem. But what is causing the logistical problem? So 0:17:21.560 --> 0:17:25.959 it's like you have to go another layer back beyond that. Um. 0:17:26.119 --> 0:17:28.200 And then and so then they're just they're gasing and 0:17:28.240 --> 0:17:31.920 then and then they said, well, Americans just are buying 0:17:31.960 --> 0:17:34.840 too much stuff online. They need to change their buying habits, right, 0:17:34.920 --> 0:17:38.080 And they're always shifting the blame. Um, it's always derful. 0:17:38.920 --> 0:17:40.640 By the way, you're listening to the Mark Moa show, 0:17:40.840 --> 0:17:43.359 and I'm joined in the studio by my good friend 0:17:43.760 --> 0:17:46.520 Alex Fetzky. You can find him on Twitter at ghost 0:17:46.560 --> 0:17:49.560 of Fetsky. He's a ghost because the Twitter got him 0:17:49.600 --> 0:17:51.880 on his first one. Uh, of course some one Mark 0:17:51.960 --> 0:17:53.800 Moss on Twitter. You can hit us up, send us, 0:17:54.000 --> 0:17:57.680 send us a message. We're talking about, UM, how we're 0:17:57.720 --> 0:17:59.879 living in this uncertain world and how we can get 0:18:00.000 --> 0:18:03.679 more certainty back. UM, and with more certainty allows us 0:18:03.680 --> 0:18:05.520 to plan further into the future and allows us to 0:18:05.520 --> 0:18:08.719 build a bigger, better life for everybody. UM. And bitcoin 0:18:08.800 --> 0:18:11.800 can do that. Bitcoin can fix that. When we come back, 0:18:11.840 --> 0:18:13.800 I'm gonna talk about some of these comments that we're 0:18:13.800 --> 0:18:17.600 going around UM saying that bitcoin is an ideological driven 0:18:17.640 --> 0:18:21.199 attack on the legitimacy of fiat currency. We'll be right 0:18:21.240 --> 0:18:23.520 back with that. Hey, welcome back. You are listening to 0:18:23.640 --> 0:18:26.920 the Mark Moa Show. We are talking about bitcoin, of course, 0:18:27.280 --> 0:18:29.080 that's what we're talking about always. We're talking about bitcoin, 0:18:29.080 --> 0:18:32.280 We're talking about cryptocurrencies. We're talking about this decentralized revolution 0:18:32.400 --> 0:18:37.879 that's literally changing the entire world. Every facet, every area 0:18:38.119 --> 0:18:40.639 of the world is changing, and for the better, i 0:18:40.680 --> 0:18:42.760 should say, and for the better. UM. I'm in the 0:18:42.800 --> 0:18:45.280 studio sitting down face to face with my good friend 0:18:45.320 --> 0:18:47.800 Alex Spetsky. What's up, Alex, Good to have you here. 0:18:49.119 --> 0:18:51.879 We're in we're in Miami. I'm getting ready for my 0:18:52.080 --> 0:18:55.360 first live event I'm hosting here Market Disruptors Live, dot 0:18:55.440 --> 0:18:58.159 Com Marketsers Live. Alex is going to be one of 0:18:58.200 --> 0:19:01.200 the speakers there. Should be pretty awesome. We're talking about bitcoin. 0:19:01.240 --> 0:19:03.200 We were just talking about how, um, we have this 0:19:03.320 --> 0:19:06.359 world of uncertainty right now and how bitcoin could give 0:19:06.440 --> 0:19:09.639 us some certainty. Back. I liked what you said about 0:19:10.400 --> 0:19:13.400 we're in this ever shifting world and up is down 0:19:13.560 --> 0:19:15.560 and left his right, and boys or girls and who 0:19:15.640 --> 0:19:18.200 even knows anymore? Um, and so at least we have 0:19:18.359 --> 0:19:20.920 something that's like every ten minutes there's that block, So 0:19:21.160 --> 0:19:24.040 that makes good sense. I want to shift gears a 0:19:24.080 --> 0:19:27.720 little bit um and talk about this guy that I 0:19:27.760 --> 0:19:30.440 don't know. For some reason, he's like a ted ted 0:19:30.560 --> 0:19:32.680 talk speaker. I don't know why. I don't know why 0:19:32.840 --> 0:19:35.159 people are are sharing his stuff all over therenet. It 0:19:35.200 --> 0:19:37.600 doesn't seem to be like anything big. But he said, 0:19:38.840 --> 0:19:40.639 I can't I'm not even gonna say his name. But 0:19:41.720 --> 0:19:46.080 I can't stress this enough. The crypto attack on the 0:19:46.240 --> 0:19:49.760 dollar is not strictly a pump and dump or a grift. 0:19:50.359 --> 0:19:55.280 It's an ideological driven attack on the legitimate legitimacy of 0:19:55.440 --> 0:20:02.480 fiat currency, the Federal Reserve, and the incumbent financial system. Okay, 0:20:02.560 --> 0:20:05.840 let's tease that apart. So first of all, or do 0:20:05.880 --> 0:20:07.400 you want to finish well the first the first part, 0:20:07.440 --> 0:20:10.560 it's an attack on the it's not the crypto attack 0:20:10.600 --> 0:20:12.920 on the dollar is not strictly a pump and dump 0:20:13.040 --> 0:20:15.200 or a grift. It's an ideological driven attack on the 0:20:15.280 --> 0:20:19.800 legism legimacy a fiat currency in the in the finance system. 0:20:19.920 --> 0:20:23.720 So a pump and dump, grift laur An attack. Okay, 0:20:24.080 --> 0:20:29.159 so um, Crypto is a pump and dump literally fundamentally speaking. 0:20:29.600 --> 0:20:32.639 So he's wrong about that. So let's let's find the 0:20:32.720 --> 0:20:35.400 nuance here. So he's absolutely wrong. Crypto is a pump 0:20:35.440 --> 0:20:39.680 and dump, he said, it's not strictly all. He's partially 0:20:39.960 --> 0:20:42.639