WEBVTT - Don't Focus on Price 0:00:00.040 --> 0:00:02.000 Welcome to another episode of the Mark Mos Show where 0:00:02.000 --> 0:00:05.640 we talk about the decentralized revolution, talking about how the 0:00:05.680 --> 0:00:08.880 world is changing. Bitcoin cryptocurrencies are changing the world, and 0:00:08.920 --> 0:00:12.160 we've discussed it through politics, finance, and technology to help 0:00:12.200 --> 0:00:15.880 you understand what's going on. I mean, the world seems crazy, 0:00:15.920 --> 0:00:18.600 but if you understand these things, it becomes a lot 0:00:18.680 --> 0:00:22.279 more clear. And it's changing rapidly, of course, like I said, 0:00:22.360 --> 0:00:27.640 led by bitcoin cryptocurrencies, because the decentralization and those technologies 0:00:27.760 --> 0:00:31.080 is breaking apart the centralization that we have so much. 0:00:31.120 --> 0:00:34.520 And of course bitcoin is the asset to own, the 0:00:34.560 --> 0:00:38.320 asset to watch. And when you're understanding a new technology 0:00:38.400 --> 0:00:42.239 like bitcoin, it's important to understand how to look at it. 0:00:42.360 --> 0:00:43.800 And so a lot of people are stuck looking at 0:00:43.800 --> 0:00:46.200 the price, which has been pretty boring. I talked pretty 0:00:46.200 --> 0:00:49.800 regularly about it being the the least least interesting thing 0:00:49.880 --> 0:00:52.959 to think about is just the price, and um, it's 0:00:53.040 --> 0:00:55.360 kind of been like a like a stable coin. We're 0:00:55.400 --> 0:00:57.640 sitting at about thirty thousand, it's been there for about 0:00:57.680 --> 0:01:00.120 a month. But again the price is the wrong to 0:01:00.120 --> 0:01:02.639 look at. We want to look at two things. One, 0:01:02.720 --> 0:01:05.000 we want to look at the growth of the network, 0:01:05.440 --> 0:01:07.880 So we have met Cass's law network effects, um. And 0:01:07.959 --> 0:01:10.920 the more people use the network, the more valuable that 0:01:10.959 --> 0:01:14.280 network becomes. If I had one phone, it's not worth 0:01:14.280 --> 0:01:16.440 a whole lot. When you have a lot of phones, 0:01:16.440 --> 0:01:17.679 it's worth a lot. As a matter of fact, I 0:01:17.720 --> 0:01:21.280 remember when I got my first cell phone, and I'm 0:01:21.280 --> 0:01:23.280 pretty old, so there weren't a lot of people that 0:01:23.319 --> 0:01:26.120 had cell phones at the time, and I was doing construction, 0:01:26.160 --> 0:01:27.600 so I was driving all over the place, and I 0:01:27.600 --> 0:01:29.520 thought should I should probably get the cell phone so 0:01:29.640 --> 0:01:31.520 when I'm out on the job side or whatever, I could, uh, 0:01:31.959 --> 0:01:33.800 I could use it. And had this big, old long 0:01:33.800 --> 0:01:37.279 whip antenna. And it was at the time phones weren't 0:01:37.280 --> 0:01:40.240 even Alpha Newmerica, they were only newmeric So at the time, 0:01:40.360 --> 0:01:42.640 the display just had numbers. That was it. So like 0:01:42.640 --> 0:01:44.399 if you want to store phone numbers or names, and 0:01:44.440 --> 0:01:46.560 they're like they had no way to like punch in 0:01:46.560 --> 0:01:48.800 the name. Um. And I remember when I first got 0:01:48.840 --> 0:01:50.880 that phone, I didn't even carry it with me. A 0:01:50.880 --> 0:01:52.280 lot of times I just would leave it at the 0:01:52.320 --> 0:01:55.200 house because like, who was I going to call? I 0:01:55.200 --> 0:01:57.640 didn't know anyone else that had a phone. But then 0:01:57.680 --> 0:02:00.240 as now, today when everybody has a phone, you can't 0:02:00.240 --> 0:02:02.000 get by without it. And so that's the way the 0:02:02.080 --> 0:02:04.920 network effects work. And so we want to look at 0:02:04.920 --> 0:02:08.079 the network effects of bitcoin. How many people are using it? 0:02:08.160 --> 0:02:09.760 Is the growth rate growing? And then we want to 0:02:09.760 --> 0:02:13.160 look at the development on the network. Is the development? 0:02:13.200 --> 0:02:15.600 Are there being upgrades and changes in the development, And 0:02:15.680 --> 0:02:17.960 so I like to talk about those things as I 0:02:18.000 --> 0:02:21.760 look at those things. Um, there's been massive, massive developments. 0:02:21.800 --> 0:02:23.320 I've been talking about that since I got back from 0:02:23.360 --> 0:02:26.320 the Bitcoin conference. UM, one of which is this new 0:02:26.360 --> 0:02:29.120 Taro upgrade. I'm not gonna go deep into that, but UM, 0:02:29.160 --> 0:02:32.720 it allows basically, with the development that's happened on Bitcoin, 0:02:33.080 --> 0:02:35.560 between the Lightning network and now the new uh tap 0:02:35.600 --> 0:02:38.919 root upgrade and now the new Taro upgrade. UM, pretty 0:02:39.000 --> 0:02:42.440 much anything that any of these other cryptocurrencies all coins 0:02:42.440 --> 0:02:43.960 think they can do, it can all be done on 0:02:44.080 --> 0:02:46.800 top of Bitcoin. It's pretty amazing. Bitcoin allows you to 0:02:46.800 --> 0:02:52.360 send bitcoin faster, cheaper, and more private than any other cryptocurrency. 0:02:52.440 --> 0:02:54.400 So anything that's faster, cheaper, and more private, Okay, get 0:02:54.400 --> 0:02:56.400 all that out the window. Um, and then you have 0:02:56.480 --> 0:02:59.880 things like uh, you know whatever, I don't know, smart contracts. 0:02:59.880 --> 0:03:02.760 I suppose um and all that stuff and creating new 0:03:02.800 --> 0:03:06.120 tokens for like token assets like stocks, etcetera. If all 0:03:06.160 --> 0:03:07.639 that now that all that could be done on bitcoin 0:03:07.680 --> 0:03:10.840 as well. So that's the development side. But on the 0:03:10.880 --> 0:03:14.760 adoption side, on the networking side, we're also having massive growth. 0:03:14.800 --> 0:03:17.000 And I talked about this on a regular basis. Um 0:03:17.080 --> 0:03:21.120 this week, Big News one of my favorite places to eat. 0:03:21.240 --> 0:03:26.720 I eat there at least once a week, Um, except bitcoin. 0:03:26.800 --> 0:03:28.919 Now I haven't. I haven't gone there to pay with 0:03:28.960 --> 0:03:32.480 bitcoin yet. Uh, And I'll talk about why. But Um, Chippotle, 0:03:32.919 --> 0:03:37.920 Chippotle Mexican grill now excepts bitcoin as payment. The popular 0:03:38.000 --> 0:03:41.320 Mexican style fast food restaurant chain now excepts bitcoin and 0:03:41.400 --> 0:03:46.680 other cryptocurrencies through flexa, a digital payments platform. So it's 0:03:46.720 --> 0:03:49.880 a new technology or a new application built on top 0:03:49.880 --> 0:03:53.720 of Bitcoin that allows this network growth to happen. He says. 0:03:53.720 --> 0:03:56.920 Flexus supports as many as ninety eight cryptocurrencies, including Bitcoin 0:03:56.960 --> 0:03:59.440 and ethereum, and customers can use an app to pay 0:03:59.440 --> 0:04:03.440 for food items in any of the nearly three thousand 0:04:03.560 --> 0:04:07.440 Chipotle restaurants across the United States. You have to download 0:04:07.440 --> 0:04:10.520 the Gemini or spend an app both are which are 0:04:11.000 --> 0:04:12.920 story or digital assets, and then you can use that 0:04:12.960 --> 0:04:16.120 app and tap it in store to make a payment. 0:04:16.360 --> 0:04:19.080 Supportly joins a long list of restaurants that currently accept 0:04:19.120 --> 0:04:23.760 cryptocurrencies of payments, including Subway, Um and Starbucks. Sp u 0:04:24.000 --> 0:04:26.479 x allows reward members to hold cryptocurrencies in lieu of 0:04:26.520 --> 0:04:30.320 cash in its app. So um my favorite place to 0:04:30.360 --> 0:04:33.640 eat now except bitcoin. Now, the problem that we have 0:04:34.040 --> 0:04:38.600 is that in the United States, bitcoin is treated as property, 0:04:38.920 --> 0:04:41.200 and so you have to understand that from a taxable standpoint. 0:04:41.320 --> 0:04:43.520 So um, if you hold, if you buy and sell 0:04:43.560 --> 0:04:46.600 stocks or gold or real estate, if you make a profit, 0:04:47.000 --> 0:04:49.479 that's a taxable event. And so if I buy bitcoin 0:04:49.520 --> 0:04:51.360 and then I go spend it at Chipotle, I gotta 0:04:51.400 --> 0:04:53.240 figure out when did I buy it? When did I 0:04:53.279 --> 0:04:55.920 sell it? Was their profit? I bought a burrito at 0:04:55.960 --> 0:04:58.240 six Bucks. I bought this bitcoin at this date? What's 0:04:58.279 --> 0:04:59.760 my problem? I have to I have to file that 0:04:59.800 --> 0:05:03.320 on my taxes and potentially pay tax on the capital 0:05:03.320 --> 0:05:06.599 gains I made. And that's a massive problem for adoption 0:05:06.680 --> 0:05:08.960 in the United States, specifically because it makes it a 0:05:09.000 --> 0:05:10.720 pain in the butt. I don't want to spend it. 0:05:11.000 --> 0:05:14.240 I'll save my bitcoin, I'll spend my feat. But I 0:05:14.279 --> 0:05:16.800 have talked about before on the show how Panama recently 0:05:17.320 --> 0:05:21.359 UM moved to take away capital gains from bitcoin, so 0:05:21.400 --> 0:05:23.680 that solves that problem in Panama. Of course El Salvador 0:05:23.720 --> 0:05:26.760 solved that problem by making bitcoin legal tenders, so they 0:05:26.760 --> 0:05:30.520 don't have that problem. And now Germany, Germany is the 0:05:30.640 --> 0:05:36.000 economic engine for the EU. Germany is probably the most 0:05:36.040 --> 0:05:40.440 important country in the entire European um Union because like 0:05:40.440 --> 0:05:42.440 I said, they're the engine. They set that policy. And 0:05:42.480 --> 0:05:45.599 now Germany came out this week and said that no 0:05:45.920 --> 0:05:50.039 taxes for selling bitcoin or ethereum if they're held for 0:05:50.120 --> 0:05:54.400 over one year. Germany's finance ministry said private individuals won't 0:05:54.440 --> 0:05:57.640 pay any taxes when selling bitcoin or ethereum if they 0:05:57.640 --> 0:06:00.320 have held the assets for more than a year, which 0:06:00.360 --> 0:06:03.920 is pretty amazing. So now they're solving that problem now. 0:06:03.920 --> 0:06:06.560 Previously digital assets using such activities had to be held 0:06:06.560 --> 0:06:10.760 for ten years to be exempt from taxation, but now 0:06:10.839 --> 0:06:13.719 it's only one year. They vowed to keep dealing with 0:06:13.720 --> 0:06:18.000 the digital asset taxation policy and eliminate any arising issues. 0:06:19.160 --> 0:06:22.600 This is only going to speed up adoption. We're seeing 0:06:22.640 --> 0:06:25.359 in Panama we're seeing a nel Salvador. We're seeing in Africa, 0:06:25.640 --> 0:06:29.760 now we're seeing it in Germany. Germany, according to a 0:06:29.760 --> 0:06:34.480 CONCUPT study, is the European Unions most crypto friendly nation 0:06:34.760 --> 0:06:38.799 in the world for Q one two. So what's happening 0:06:39.279 --> 0:06:46.400 and uh, it's really going to speed up adoption. Speaking 0:06:46.440 --> 0:06:48.560 of adoption, one big thing that happened in the network 0:06:48.600 --> 0:06:52.760 in was China, that had over six of the bitcoin 0:06:52.920 --> 0:06:57.159 mining in the world, banned all their bitcoin mining. So 0:06:57.240 --> 0:06:59.760 bitcoin mining, you buy high power computer, you plug it in, 0:07:00.040 --> 0:07:03.880 help secure the network, process transactions, you earned rewards. And 0:07:03.960 --> 0:07:06.320 China had this massive advantage where they had over sixty 0:07:06.640 --> 0:07:09.360 of the mining or almost six of the mining in 0:07:09.400 --> 0:07:12.800 the world, was concentrated in mind in China, but boom, 0:07:12.920 --> 0:07:15.920 they flipped off a switch last year and just shut 0:07:15.920 --> 0:07:18.040 it down. Now the United States was the big beneficiary 0:07:18.080 --> 0:07:20.920 of that, and um now the United States is the 0:07:21.000 --> 0:07:24.200 largest has more mining capacity United States and anywhere else 0:07:24.200 --> 0:07:26.280 in the world, Texas being the big beneficiary of that. 0:07:27.280 --> 0:07:32.440 But what's interesting is last week Cambridge University's Cambridge Center 0:07:32.480 --> 0:07:37.200 for Alternative Finance released an update and said that it 0:07:37.240 --> 0:07:40.320 looks like things have actually changed as a matter of fact, 0:07:41.040 --> 0:07:43.400 the previous Cambridge update showed that China's share of the 0:07:43.440 --> 0:07:47.000 mining went from thirty four point three pc in June 0:07:47.320 --> 0:07:51.600 to zero percent in July. So from Junior July it 0:07:51.640 --> 0:07:54.440 went to zero following the crypto mining band that they 0:07:54.440 --> 0:07:59.960 had um But last week the update showed that china 0:08:00.040 --> 0:08:03.239 As share of mining went from zero percent in August 0:08:04.320 --> 0:08:08.800 to twenty two three in September, so it went from 0:08:08.920 --> 0:08:13.560 zero back up to So there's something going on there. 0:08:14.480 --> 0:08:18.600 What's going on? Well, they banned it right, we saw it. 0:08:18.640 --> 0:08:20.400 We could see it in the data that there was 0:08:20.440 --> 0:08:22.600 no miners, there's no what we call hash power. The 0:08:22.640 --> 0:08:26.560 hash power is is the power of all the collectively 0:08:26.880 --> 0:08:30.120 computers that are on the network, and so so we 0:08:30.120 --> 0:08:32.439 can see it went to zero, but then we can 0:08:32.440 --> 0:08:36.400 see it started coming back online and it looks like 0:08:36.480 --> 0:08:40.640 it's only continued to grow since then. As a matter 0:08:40.679 --> 0:08:43.400 of fact, the hash power has continued to grow to 0:08:43.480 --> 0:08:47.280 a point that China starting to be a big player again. 0:08:48.040 --> 0:08:50.520 They haven't been able to get back to where they 0:08:50.520 --> 0:08:53.760 were before, but it looks like they've now firmly put 0:08:53.800 --> 0:08:58.440 themselves into number two, number two. So it says the 0:08:59.120 --> 0:09:01.640 highlight that hash rate. The computational power of the bitcoin 0:09:01.679 --> 0:09:06.440 network has grown forty percent since the China ban, So 0:09:06.480 --> 0:09:10.840 they've grown by putting themselves back into number two in 0:09:10.840 --> 0:09:14.880 in the world, which is pretty amazing because they've banned it. 0:09:14.880 --> 0:09:20.040 It's illegal, but China just can't stop it. The desire, 0:09:20.160 --> 0:09:25.480 the need, um, the the benefits of mining bitcoin, the 0:09:25.600 --> 0:09:29.280 money making potential of mining bitcoin is so powerful that 0:09:29.760 --> 0:09:32.560 they will risk whatever, you know, problems they may have 0:09:32.600 --> 0:09:35.000 in China to mine it. And so it's went from 0:09:35.080 --> 0:09:37.240 zero when they cracked down back up to be number 0:09:37.240 --> 0:09:38.839 two in the world. If you're listening to the Mark 0:09:38.920 --> 0:09:41.680 Moa Show, we're talking about bitcoin and the decentralized Revolution. 0:09:41.880 --> 0:09:45.600 I'll be right back. Don't go away, all right, Welcome back. 0:09:45.600 --> 0:09:47.640 You are listening to the Mark Moa Show talking about 0:09:47.679 --> 0:09:52.600 the decentralized Revolution, walking you step by step how the 0:09:52.600 --> 0:09:57.000 world is changing, talking about bitcoin, cryptocurrencies, politics, technology, finance, 0:09:57.320 --> 0:10:00.360 all your favorite subjects we're talking to about. Over the 0:10:00.440 --> 0:10:03.920 last couple weeks, we've been talking about this stable coin 0:10:04.080 --> 0:10:07.679 called Terra Luna ust Us stable coin Terra Luna, and 0:10:07.679 --> 0:10:09.920 then at the Tera Luna Toka I went deep into 0:10:09.960 --> 0:10:12.400 it and talked about how it blew up. How about 0:10:12.640 --> 0:10:17.679 fifty year and I was about sixty billion dollars just 0:10:17.720 --> 0:10:20.160 went up and smoke and I kind of broke it 0:10:20.200 --> 0:10:21.880 all down. I'm not gonna dive super deep into that, 0:10:21.920 --> 0:10:23.599 but talked about how it was it was doomed to 0:10:23.640 --> 0:10:27.760 fail from day one. UM, peg coins they don't work. 0:10:28.640 --> 0:10:31.280 George Soros got famously rich a billion dollars in a 0:10:31.360 --> 0:10:33.400 day by breaking the peg of the Bank of England. 0:10:34.080 --> 0:10:36.320 Pegs are meant to be broken, and that's exactly what happened. 0:10:36.320 --> 0:10:38.200 I'm not gonna go to super super deep into that, 0:10:38.240 --> 0:10:41.880 but what I do want to talk about is sixty 0:10:42.040 --> 0:10:48.440 billion dollars got eviscerated, basically. And uh, the founder of 0:10:48.480 --> 0:10:53.120 this project ust his name is Do Kwon. Here's a 0:10:53.160 --> 0:10:55.400 thirty year old South Korean and he was the founder 0:10:55.440 --> 0:11:00.520 of this stable coin project. And uh, he's he's kind 0:11:00.520 --> 0:11:03.560 of a shady character. And when I say that, UM, 0:11:03.720 --> 0:11:05.160 part of the reason why I would say that is 0:11:05.200 --> 0:11:08.360 because he already set up a stable coin project before 0:11:08.400 --> 0:11:11.960 that failed, and he did it under a fake alias 0:11:12.040 --> 0:11:14.040 name and coin Desk did a bunch of research on 0:11:14.080 --> 0:11:16.440 this and found all this out. But he was already 0:11:16.440 --> 0:11:18.080 part of another project that failed, and he made a 0:11:18.080 --> 0:11:19.480 bunch of money on that, and then he then he 0:11:19.559 --> 0:11:21.240 launched this other one. So he's got he's like this 0:11:21.320 --> 0:11:25.160 serial offender, if you will, and he operates in this 0:11:25.400 --> 0:11:29.040 gray part of the law where he probably caused more 0:11:29.080 --> 0:11:31.480 pain and damage than Bernie made off who's doing like 0:11:31.600 --> 0:11:36.520 life life in prison. And yet here he is looks 0:11:36.559 --> 0:11:39.520 like he's unlikely, it says, unlikely to face prison time 0:11:39.760 --> 0:11:44.599 for sixty billion dollar wipe out butt finds in lawsuits 0:11:44.800 --> 0:11:47.920 or more likely. And so we're starting to see that. 0:11:48.080 --> 0:11:51.880 We're starting to see, um, some lawsuits pile up. However, 0:11:52.760 --> 0:11:55.040 because there's no what's what I'm gonna talk more about 0:11:55.040 --> 0:11:58.439 that in a second. But because there's no I guess 0:11:58.520 --> 0:12:00.679 jail time or prison time that's going be likely for 0:12:00.760 --> 0:12:03.920 him just making billions of dollars while everyone lost their 0:12:03.960 --> 0:12:07.000 life savings. And we've I've heard stories of I've heard 0:12:07.200 --> 0:12:09.439 I've heard stories of people committing suicide over this. I mean, 0:12:09.440 --> 0:12:11.920 it's a big, big deal. People lost their life savings, 0:12:12.960 --> 0:12:14.960 but not for him, right, No no prison time. So 0:12:15.520 --> 0:12:17.520 I mean I didn't have a problem the first time. 0:12:17.600 --> 0:12:20.480 I didn't have a problem with this one. Why not 0:12:21.040 --> 0:12:23.760 do it again? I mean, sure, why not? Right? So 0:12:24.040 --> 0:12:26.520 guess what he just did and they just launched Tera 0:12:26.640 --> 0:12:31.040 Luna two point oh. So, um, we have an idea. 0:12:31.360 --> 0:12:34.200 Let's just uh, let's just you know, we'll take the 0:12:34.240 --> 0:12:37.440 original Tera Luna token. We'll call that Tera Luna Classic 0:12:37.559 --> 0:12:39.240 or original or whatever they called it, and let's just 0:12:39.320 --> 0:12:41.320 make a new one. How about that. And then what 0:12:41.360 --> 0:12:43.440 we'll do is we're going to air drop a bunch 0:12:43.440 --> 0:12:45.880 of tokens to everybody who had who had the Luna token. 0:12:46.360 --> 0:12:48.520 Air Dropping means basically they create a bunch of new 0:12:48.559 --> 0:12:51.440 tokens out of thin air, and then they just send 0:12:51.480 --> 0:12:53.600 it out to everybody that has an address. Just air 0:12:53.679 --> 0:12:55.480 drop it. Just it just shows up in your wallet. 0:12:56.240 --> 0:12:59.360 And so they did on on May. They name they 0:12:59.480 --> 0:13:02.080 created this new token, they air dropped it. The new 0:13:02.080 --> 0:13:05.480 one they named the old ones Tarra Classic, and they 0:13:05.559 --> 0:13:09.480 traded they created this new coin. UM. Now, uh, these 0:13:09.559 --> 0:13:14.800 exchanges Binance, coup Coin, and okay x, they're complicit in this. 0:13:16.640 --> 0:13:19.040 If this was a crime, which it would be if 0:13:19.080 --> 0:13:21.040 it wasn't in this gray area where they don't quite 0:13:21.080 --> 0:13:23.959 have names and laws for this um, they would probably 0:13:24.000 --> 0:13:26.679 accessories to this crime. But binance coo Cooin and okay 0:13:26.679 --> 0:13:30.920 Coin okay x cryptocurrency exchanges decided to list this new 0:13:31.080 --> 0:13:35.320 Lunar two point oh token and they did, and when 0:13:35.320 --> 0:13:38.600 the token came out, he started trading it about seventeen dollars. 0:13:39.240 --> 0:13:43.400 It then went up to twenty dollars. I don't know 0:13:43.400 --> 0:13:45.480 who was buying this. I mean they got everyone got 0:13:45.520 --> 0:13:48.360 this token for free. It already felt spectacularly. Now they 0:13:48.360 --> 0:13:50.640 got this new token. Now in order to sell the token, 0:13:50.720 --> 0:13:54.040 someone has to buy the token, right, We're not exactly 0:13:54.040 --> 0:13:56.240 sure on who was buying it or what they thought 0:13:56.280 --> 0:13:58.440 they were getting out of it. Somehow, maybe they thought 0:13:58.440 --> 0:14:00.640 that it would go back to reclaim the previous high 0:14:00.640 --> 0:14:04.320 that the original Luna had UM. However it didn't it. 0:14:04.640 --> 0:14:07.680 As a matter of fact, um the old Luno token 0:14:07.760 --> 0:14:14.079 was trading at zero point zero zero zero two zero 0:14:14.200 --> 0:14:17.160 zero zero two point zero zero two UM, and so 0:14:17.240 --> 0:14:19.280 this new one um was air dropped out. It started 0:14:19.320 --> 0:14:23.040 trading and it went as high as thirty dollars on 0:14:23.200 --> 0:14:27.320 by bit and now it's crashed all the way down. 0:14:27.440 --> 0:14:30.240 It's lost eight percent of its value in just a 0:14:30.320 --> 0:14:33.560 couple of hours. And now it's somewhere in the seven 0:14:33.600 --> 0:14:39.680 dollar range. So you create a scam, it fails, You 0:14:39.720 --> 0:14:42.400 create another scam. People lose your life stating sixty billion 0:14:42.440 --> 0:14:45.520 dollars gets lost. You create another scam. I don't know 0:14:45.560 --> 0:14:48.320 why these exchanges are listening it, but look, no one's 0:14:48.360 --> 0:14:51.280 coming to save you here. You should not be participating 0:14:51.320 --> 0:14:53.240 in these scams. I get it. You're like, well, if 0:14:53.240 --> 0:14:54.640 I could have bought here, and it could have got 0:14:54.640 --> 0:14:56.480 out right right there there the company I would have made. 0:14:56.840 --> 0:14:59.640 The reality is you're not on the inside. You don't 0:14:59.640 --> 0:15:03.160 have the information. You don't know when when that pump 0:15:03.200 --> 0:15:06.080 and dump is happening, and so you turn into liquidity. 0:15:06.520 --> 0:15:10.080 You're the one that gets dumped on. And so I 0:15:10.120 --> 0:15:12.640 know when you look at the chart and you hear 0:15:12.680 --> 0:15:15.280 the stories of but this guy made all this money, 0:15:15.400 --> 0:15:17.440 if I could do that too, Yeah, yeah, you hear 0:15:17.440 --> 0:15:19.880 all the stories of people win the lottery too. How 0:15:19.920 --> 0:15:21.400 much money you're going to put in the lottery? Right? 0:15:21.400 --> 0:15:22.880 There's always stories of that. I mean, you hear a 0:15:22.880 --> 0:15:26.600 about guys getting you know, uh, million dollar contracts to 0:15:26.640 --> 0:15:29.800 play basketball or football or baseball, But are you doing 0:15:29.800 --> 0:15:32.120 that right? So there's always stories, don't get me wrong. 0:15:32.160 --> 0:15:34.600 There's always stories And are are there people that made 0:15:34.600 --> 0:15:37.479 that money? Yes, there are, but most likely their insiders 0:15:37.480 --> 0:15:40.440 that had innate knowledge of this pump and dump timing 0:15:40.440 --> 0:15:45.520 and scam. And uh, you don't, you're not, You're not 0:15:45.560 --> 0:15:48.200 connected enough to have that happened. I'm sorry to tell 0:15:48.200 --> 0:15:50.360 you that. I mean, maybe you are. Maybe you're one 0:15:50.360 --> 0:15:51.920 of the few people that are on the inside that 0:15:52.000 --> 0:15:56.160 organize these scams, most likely or not, and most likely 0:15:56.200 --> 0:16:00.200 you'll end up losing everything. Um, and it's unfortun it 0:16:00.520 --> 0:16:02.640 And uh, you know, I'm not here regular I'm not 0:16:02.680 --> 0:16:07.120 here advocating for regulations. Um. What I actually like is 0:16:07.160 --> 0:16:10.280 that as big of a hole as this was for 0:16:10.320 --> 0:16:13.440 the cryptocurrency market overall, like I said, sixty billion dollars 0:16:13.880 --> 0:16:18.040 up in smoke, the entire cryptocurrency market just shrugged it off, 0:16:18.960 --> 0:16:20.560 like we kind of heard. I mean, the price of 0:16:20.600 --> 0:16:24.400 bitcoin dropped, um, but for the most part, it absorbed 0:16:24.400 --> 0:16:29.400 the losses and it's just continued on. Unlike the centrally 0:16:29.440 --> 0:16:34.760 planned markets, like what's happening in the energy markets, like Russia, 0:16:34.840 --> 0:16:38.480 which controls less than ten percent of the oil in 0:16:38.520 --> 0:16:42.880 the world, supposedly is responsible for everyone pay more for energy, 0:16:43.000 --> 0:16:45.560 Like we can't shrug that off, or the food you know, 0:16:45.960 --> 0:16:49.000 all these markets that the government's the central planners control, 0:16:49.240 --> 0:16:52.800 they can't. They're so fragile. They can't even handle a 0:16:52.920 --> 0:16:56.760 small single digit disruption. But here we have the crypto 0:16:56.760 --> 0:17:01.200 market that's some someone unregulated, maybe the closest form of 0:17:01.240 --> 0:17:04.200 an actual free market that we have had a sixty 0:17:04.240 --> 0:17:07.399 billion dollar lost and just the market has absorbed it, 0:17:07.480 --> 0:17:10.440 just keept on moving forward. So um, I'm not a 0:17:10.480 --> 0:17:14.560 fan of it. Um, you know, I suppose there could 0:17:14.600 --> 0:17:16.760 be something done. I'm not a fan of regulation. I'm 0:17:16.840 --> 0:17:20.439 a fan of self regulation. I think that you know, 0:17:20.520 --> 0:17:22.400 a lot of these people that lost money, it's unfortunate, 0:17:22.760 --> 0:17:25.000 but hopefully they won't make that same mistake again. Of 0:17:25.040 --> 0:17:26.360 course I'd like to think that. But then I see 0:17:26.359 --> 0:17:28.560 what happened. They just launched Luna Tude point Oh, and 0:17:28.600 --> 0:17:32.360 here they are right back on board with it, and 0:17:32.520 --> 0:17:34.920 uh no, one's coming to savior. Here we can see 0:17:34.920 --> 0:17:40.360 that lawsuits are piling up in crypto cases. I want 0:17:40.359 --> 0:17:42.360 to talk about these lawsuits, and I'm gonna talking about 0:17:42.359 --> 0:17:45.960 a lawsuit that I was actually personally involved in as well. 0:17:46.680 --> 0:17:48.280 I'll tell you what the outcome of that was and 0:17:48.320 --> 0:17:50.440 what you can expect if you find yourself in a 0:17:50.520 --> 0:17:53.359 similar situation and in a lawsuit. Moving back with that 0:17:53.440 --> 0:17:55.640 and more in a minute. You're listening to the Mark 0:17:55.720 --> 0:17:59.240 Moa Show talking about the decentralized Revolution, talking about the 0:17:59.280 --> 0:18:03.639 intersection Paul Tex, finance and technology as they converge and 0:18:03.680 --> 0:18:06.320 it changes the world. Of course, that's being led by bitcoin, 0:18:06.520 --> 0:18:10.160 being led by cryptocurrencies, and if you can navigate it correctly, 0:18:10.200 --> 0:18:11.960 it could be the greatest opportunity of your life. However, 0:18:12.000 --> 0:18:13.920 if you get caught up in these scams like these guys, 0:18:14.040 --> 0:18:16.520 it could be disastrous for you. Don't want that to happen, 0:18:16.960 --> 0:18:19.919 so don't go away. I'll be back with more. All right, 0:18:19.920 --> 0:18:21.840 welcome back. You are listening to the markmas Show, and 0:18:21.840 --> 0:18:25.600 we are talking about the decentralized Revolution. We're talking about bitcoin, 0:18:25.920 --> 0:18:30.000 We're talking about cryptocurrencies. We're talking about politics, finance, technology 0:18:30.080 --> 0:18:32.320 and how the world has changed before of our eyes. 0:18:32.320 --> 0:18:34.840 We were just talking about, uh, we were talking about 0:18:34.840 --> 0:18:37.720 this Luna Luna crash and how it sucks sixty billion 0:18:37.760 --> 0:18:40.600 dollars out of the crypto markets and how they basically 0:18:40.600 --> 0:18:42.720 just shrugged it off and just kept moving because their 0:18:42.800 --> 0:18:46.080 free markets, unlike the essentially planned markets that are so 0:18:46.160 --> 0:18:51.720 fragile they can't handle even a single point reduction. But 0:18:51.760 --> 0:18:55.000 that's where we are now in these scams, like I said, 0:18:55.040 --> 0:18:58.320 there's not uh they're they're operating in this gray area 0:18:58.480 --> 0:19:00.679 and so it's unfortunate that they can get away with 0:19:01.400 --> 0:19:05.160 repeated offenses. And Do Kuan, who founded Luna now has 0:19:05.160 --> 0:19:06.880 just launched Terra two point o, which is is now 0:19:07.000 --> 0:19:11.160 third attempt he gets, he gets fabulously rich. Most people 0:19:11.200 --> 0:19:14.160 lose everything, and a lot of people jump in hoping 0:19:14.200 --> 0:19:16.280 they're gonna get super rich as well. It doesn't always 0:19:16.320 --> 0:19:18.080 work out so well for him. And so what we've 0:19:18.119 --> 0:19:21.639 seen is these lawsuits. Crypto industry has seen this surge 0:19:21.720 --> 0:19:25.720 and lawsuits, lawsuits as investors losses pile up, and it 0:19:25.760 --> 0:19:30.960 says suits target issuers of digital coins and tokens. Now, 0:19:31.960 --> 0:19:33.760 I'm gonna talk about this for a minute. Let me 0:19:33.840 --> 0:19:35.080 let me, let me read this article and then I'll 0:19:35.080 --> 0:19:37.679 explain a little bit. Even before the recent plunge in 0:19:37.720 --> 0:19:41.240 crypto prices, the industry was already seen an upticking lawsuits. 0:19:41.280 --> 0:19:45.720 The lawsuits are nothing new. Um Um an attorney that 0:19:45.760 --> 0:19:48.280 I that I've used and I'm friends with David Silver. 0:19:48.359 --> 0:19:50.399 He is probably one of the top attorneys in the space. 0:19:50.480 --> 0:19:52.720 I mean, he's been working for years on this so 0:19:53.480 --> 0:19:57.040 some swap attacks and exchange attacks and frauds. I mean, 0:19:57.080 --> 0:19:59.680 he deals with all this, and it's a growing place. 0:19:59.680 --> 0:20:02.240 If you're a attorney, maybe you should be looking at 0:20:02.240 --> 0:20:04.399 working in this crypto space because it's it's a growing industry. 0:20:04.400 --> 0:20:07.639 But it says even before the recent crypto plunge, the 0:20:07.640 --> 0:20:10.520 prices plunge, the industry has already seen an uptip uptick 0:20:10.600 --> 0:20:13.439 in lawsuits. Many of the cases have been fueled by 0:20:13.480 --> 0:20:17.240 investors who allege some digital coins were hyped and then 0:20:17.440 --> 0:20:21.199 sold under false pretenses. So, as I was explaining to you, um, 0:20:21.200 --> 0:20:23.040 it's easy to look at these coins and go, shoot, man, 0:20:23.040 --> 0:20:24.320 if I would have just bought here and I would 0:20:24.320 --> 0:20:26.280 have sold here, look how much I made and so 0:20:26.320 --> 0:20:31.440 and so my friends, friends, cousins, roommates, girlfriends, um an uncles, 0:20:31.480 --> 0:20:34.760 whatever made all this money. I can't too well, not really, 0:20:34.800 --> 0:20:37.080 because as I said, you're not on the inside. And 0:20:37.119 --> 0:20:39.720 so what it says right here, Many of the cases 0:20:39.720 --> 0:20:42.440 have been fueled by investors who allege some digital coins 0:20:42.440 --> 0:20:45.720 were hyped and then sold under false pretenses. So they 0:20:45.720 --> 0:20:48.440 work under these pump and dump schemes. You're not connected enough, 0:20:48.520 --> 0:20:52.800 neither am I um It says some proposed class action 0:20:52.880 --> 0:20:57.040 suits alleged pump and dump schemes involving celebrity promoters. So 0:20:57.119 --> 0:21:00.199 just because your favorite celebrity like Matt Damon from in 0:21:00.200 --> 0:21:02.920 crypto dot com on the super Bowl, just because your 0:21:02.920 --> 0:21:07.240 favorite celebrity promoter is promoting it does not mean it's safe, 0:21:07.920 --> 0:21:11.199 does not mean it's good, and does not mean you 0:21:11.240 --> 0:21:13.760