1 00:00:00,080 --> 00:00:03,200 Speaker 1: Hey, everyone, welcome to another episode of The Markma Show 2 00:00:03,200 --> 00:00:06,080 Speaker 1: where we are talking about bitcoin. We're talking about cryptocurrencies, 3 00:00:06,080 --> 00:00:09,320 Speaker 1: and of course we are talking about this decentralized revolution 4 00:00:09,440 --> 00:00:12,840 Speaker 1: that is literally changing the world. I know I say 5 00:00:12,880 --> 00:00:14,880 Speaker 1: that each and every week, but that's because it's true. 6 00:00:14,960 --> 00:00:18,000 Speaker 1: I mean, we are talking about something so big, and 7 00:00:18,079 --> 00:00:21,640 Speaker 1: so because it's so big, it's hard to understand. Because 8 00:00:21,680 --> 00:00:24,320 Speaker 1: it's a hard to understand, you need to be paying attention. 9 00:00:24,560 --> 00:00:26,400 Speaker 1: You need to be tuning in listening to me each 10 00:00:26,400 --> 00:00:28,960 Speaker 1: and every week. Uh So, just real quick, if you're 11 00:00:28,960 --> 00:00:31,479 Speaker 1: not driving, grab your phone, put put a reminder right 12 00:00:31,520 --> 00:00:33,479 Speaker 1: now on your counter for this day, this time, this channel, 13 00:00:33,920 --> 00:00:35,199 Speaker 1: and make sure you tune in with me each and 14 00:00:35,200 --> 00:00:39,519 Speaker 1: every week. I can pretty much guarantee is gonna be 15 00:00:39,560 --> 00:00:42,480 Speaker 1: the most important and the most profitable part of your 16 00:00:42,600 --> 00:00:44,600 Speaker 1: week to be paying attention to. Not because I'm gonna 17 00:00:44,600 --> 00:00:47,199 Speaker 1: be giving you some stupid, crazy hot stock tip that 18 00:00:47,200 --> 00:00:49,239 Speaker 1: you can go get rich overnight with, but because I'm 19 00:00:49,240 --> 00:00:52,319 Speaker 1: gonna help you build an educational foundation and you can 20 00:00:52,360 --> 00:00:54,720 Speaker 1: build the rest of your life on. This is the 21 00:00:54,760 --> 00:00:57,880 Speaker 1: biggest thing, the biggest shift that we are witnessing in 22 00:00:57,920 --> 00:01:00,560 Speaker 1: our lifetime that we'll ever see in multiple lifetimes. And 23 00:01:00,600 --> 00:01:02,600 Speaker 1: the only way to take advantage of it and not 24 00:01:02,680 --> 00:01:05,200 Speaker 1: be shaken out is to understand what's going on. And 25 00:01:05,240 --> 00:01:06,800 Speaker 1: the only way to do that is of course, by 26 00:01:06,920 --> 00:01:09,840 Speaker 1: having the education to do that. So I try to 27 00:01:09,840 --> 00:01:11,759 Speaker 1: bring to you a couple of things. One, I want 28 00:01:11,760 --> 00:01:13,720 Speaker 1: to bring to you the educations. You can understand what's 29 00:01:13,720 --> 00:01:16,200 Speaker 1: going on, so you can have what we call the 30 00:01:16,240 --> 00:01:18,920 Speaker 1: strong hands to stay in this market to take advantage 31 00:01:18,920 --> 00:01:22,200 Speaker 1: of it. I bring you the hottest breaking news each 32 00:01:22,200 --> 00:01:23,920 Speaker 1: and every week so you can stay up to date 33 00:01:23,959 --> 00:01:25,560 Speaker 1: on what's going on, so when you go out to 34 00:01:25,600 --> 00:01:27,440 Speaker 1: those parties on the weekend, you can sound like the 35 00:01:27,480 --> 00:01:29,680 Speaker 1: smartest person in the room because you know all the 36 00:01:29,680 --> 00:01:31,240 Speaker 1: stuff that's going on. And then I bring to you 37 00:01:31,440 --> 00:01:36,080 Speaker 1: some of the brightest and most interesting and intellectual people 38 00:01:36,120 --> 00:01:38,440 Speaker 1: in the space, so you can learn not just from me, 39 00:01:38,520 --> 00:01:41,560 Speaker 1: but some from some of my friends as well. Now, 40 00:01:41,600 --> 00:01:43,040 Speaker 1: today I want to talk to you about a couple 41 00:01:43,080 --> 00:01:46,440 Speaker 1: of things that uh I have been seeing run through 42 00:01:46,840 --> 00:01:50,680 Speaker 1: the industry lately through the news lately, and I'm gonna 43 00:01:50,680 --> 00:01:52,880 Speaker 1: bring to you a couple of things. So UM in 44 00:01:52,920 --> 00:01:56,880 Speaker 1: the cryptocurrency space, we talk about something called FUD that 45 00:01:56,960 --> 00:02:02,040 Speaker 1: stands for fear, uncertainty and doubt and so UM. Basically, 46 00:02:02,080 --> 00:02:06,640 Speaker 1: anytime somebody is saying something bad about bitcoin and cryptocurrencies, UM, 47 00:02:06,680 --> 00:02:09,480 Speaker 1: like China is gonna shut down all the mining or 48 00:02:09,520 --> 00:02:11,839 Speaker 1: something like that, we'd call that FUD because it creates fear, 49 00:02:11,880 --> 00:02:16,480 Speaker 1: uncertainty in out and so UM. There are a lot 50 00:02:17,240 --> 00:02:20,560 Speaker 1: of reasons or things that people would say that our 51 00:02:20,680 --> 00:02:23,880 Speaker 1: fud um that when they talk about bitcoin. And what 52 00:02:23,919 --> 00:02:26,799 Speaker 1: I've done is I ran a pole and I collected 53 00:02:26,880 --> 00:02:31,040 Speaker 1: about I don't know, fifteen or twenty of the top 54 00:02:32,120 --> 00:02:35,880 Speaker 1: fud headlines as to why bitcoin will never work, why 55 00:02:35,919 --> 00:02:39,160 Speaker 1: bitcoin is uh is stupid, why it's a scam, why 56 00:02:39,200 --> 00:02:42,560 Speaker 1: it's unimportant, or whatever, and I ran a pole. I 57 00:02:42,639 --> 00:02:46,800 Speaker 1: got hundreds and hundreds of responses on Twitter. By the way, 58 00:02:46,800 --> 00:02:48,480 Speaker 1: if you're not following me on Twitter, you should um 59 00:02:48,520 --> 00:02:51,400 Speaker 1: the number one Mark Moss. That's just one Mark Moss. 60 00:02:51,440 --> 00:02:52,920 Speaker 1: You can find me there, ask me a question, and 61 00:02:52,960 --> 00:02:54,760 Speaker 1: you can also tell me what you think is fud. 62 00:02:55,360 --> 00:02:56,959 Speaker 1: But I grabbed some of these top fud headlines and 63 00:02:57,000 --> 00:02:59,040 Speaker 1: I'm gonna try to break some of these down for 64 00:02:59,120 --> 00:03:00,760 Speaker 1: you as best as I and as fast as I 65 00:03:00,760 --> 00:03:04,960 Speaker 1: can um, so that maybe I'll answer your fud or 66 00:03:05,120 --> 00:03:07,520 Speaker 1: I'll give you I'll make you better equipped to go 67 00:03:07,600 --> 00:03:09,520 Speaker 1: handle some of the fund that you may be faced 68 00:03:09,520 --> 00:03:11,040 Speaker 1: with as you go start trying to talk about this 69 00:03:11,080 --> 00:03:13,120 Speaker 1: to some of your friends from your family. Now, if 70 00:03:13,120 --> 00:03:14,480 Speaker 1: you're just tuning in, you're listening to the Mark Moa 71 00:03:14,560 --> 00:03:16,839 Speaker 1: show where I talk about bitcoin. I talked about cryptocurrencies, 72 00:03:16,840 --> 00:03:19,840 Speaker 1: and I talked about the decentralized revolution each and every week. 73 00:03:20,200 --> 00:03:21,800 Speaker 1: And so let's go ahead, let's just jump into some 74 00:03:21,880 --> 00:03:24,840 Speaker 1: of the fund all right, So I'm gonna I'm not 75 00:03:24,840 --> 00:03:27,040 Speaker 1: going to talk about these by any certain order. I'm 76 00:03:27,040 --> 00:03:28,840 Speaker 1: just gonna jump at the top. Um kind of that 77 00:03:28,880 --> 00:03:32,040 Speaker 1: I had started with here, and uh, the first three 78 00:03:32,080 --> 00:03:35,120 Speaker 1: that I have here are kind of similar. And they 79 00:03:35,120 --> 00:03:40,200 Speaker 1: would say that bitcoin is backed by nothing? What's it 80 00:03:40,280 --> 00:03:42,760 Speaker 1: backed by? Come on, Mark, bitcoin is not worth anything. 81 00:03:42,760 --> 00:03:45,080 Speaker 1: It's not backed by anything. Right, let's talk about that 82 00:03:45,120 --> 00:03:48,640 Speaker 1: for a second. So what does that even mean that 83 00:03:48,640 --> 00:03:51,760 Speaker 1: it's backed by something? People recite these headlines without even 84 00:03:51,760 --> 00:03:54,840 Speaker 1: really thinking through what they're even saying. You've just heard 85 00:03:54,880 --> 00:03:57,800 Speaker 1: this for so long, do you even know what backed 86 00:03:57,840 --> 00:04:02,280 Speaker 1: by something or backed by nothing even means? You probably 87 00:04:02,280 --> 00:04:03,960 Speaker 1: don't let me break it down for you. So check 88 00:04:04,000 --> 00:04:08,440 Speaker 1: this out. Uh, for five thousand years, gold was money. 89 00:04:08,800 --> 00:04:10,800 Speaker 1: Well before that, we had you know, feathers were money, 90 00:04:10,840 --> 00:04:12,880 Speaker 1: and rocks were money, and seashells where money, and blah 91 00:04:12,960 --> 00:04:16,840 Speaker 1: blah blah. Gold emerged as the best form of money. 92 00:04:17,080 --> 00:04:20,599 Speaker 1: Gold is a physical property, it's a commodity obviously, something 93 00:04:20,600 --> 00:04:25,080 Speaker 1: tangible we can hold in your hand, and it became money. Um. 94 00:04:25,320 --> 00:04:27,760 Speaker 1: Through the free market, they found that gold was the 95 00:04:27,800 --> 00:04:32,160 Speaker 1: best form of money, and um, so it emerged right now, 96 00:04:32,240 --> 00:04:36,920 Speaker 1: what happened is eventually gold didn't keep up with technology. 97 00:04:37,920 --> 00:04:42,359 Speaker 1: As the world advanced, gold didn't work any anymore because 98 00:04:42,480 --> 00:04:47,400 Speaker 1: we needed to transact over space, meaning over distance. So UM, 99 00:04:47,440 --> 00:04:50,560 Speaker 1: I wanted to transact with somebody in another state, another country, 100 00:04:50,640 --> 00:04:55,320 Speaker 1: et cetera. And so you know, in the fifteen six hundreds, UM, 101 00:04:55,360 --> 00:04:57,040 Speaker 1: you found countries trying to trade with each other, and 102 00:04:57,080 --> 00:04:59,279 Speaker 1: they were shipping gold back and forth across the oceans, 103 00:04:59,279 --> 00:05:01,640 Speaker 1: and these ships were being attacked by pirates and sinking 104 00:05:01,640 --> 00:05:04,640 Speaker 1: and blah blah blah. And of course, UM, it became 105 00:05:04,760 --> 00:05:06,640 Speaker 1: very difficult for gold. And so what happened is then 106 00:05:07,600 --> 00:05:11,200 Speaker 1: these countries started running tallies or ledgers, and they held 107 00:05:11,200 --> 00:05:13,359 Speaker 1: the ledger to keep track of who owed who what. 108 00:05:14,160 --> 00:05:16,360 Speaker 1: And then as things kind of emerged, we went onto 109 00:05:16,400 --> 00:05:19,080 Speaker 1: the next layer of technology, which is layered money. So 110 00:05:19,120 --> 00:05:21,279 Speaker 1: instead of using gold for money, because gold is big 111 00:05:21,320 --> 00:05:23,479 Speaker 1: and clunky and heavy and whatever, we just put the 112 00:05:23,520 --> 00:05:26,320 Speaker 1: gold in the bank and the bank gave us a 113 00:05:26,360 --> 00:05:31,159 Speaker 1: paper gold certificate. That was a second layer. So gold 114 00:05:31,240 --> 00:05:33,880 Speaker 1: is the primary settlement layers of the paper money as 115 00:05:33,920 --> 00:05:37,039 Speaker 1: the second layer, and that new technology allowed us to 116 00:05:37,200 --> 00:05:40,240 Speaker 1: all of a sudden transact gold very easily. Because paper 117 00:05:40,320 --> 00:05:43,440 Speaker 1: is obviously much more divisible, it's much easier, much lighter 118 00:05:43,480 --> 00:05:46,800 Speaker 1: to carry around. So where am I going with this? Well, 119 00:05:47,200 --> 00:05:51,839 Speaker 1: that paper was backed by gold. Does that make sense? 120 00:05:52,120 --> 00:05:55,000 Speaker 1: That paper was redeemable. I could take that paper anytime 121 00:05:55,000 --> 00:05:57,160 Speaker 1: I wanted to any bank, and I could redeem it 122 00:05:57,240 --> 00:06:00,520 Speaker 1: for gold. At the time, it was twenty US dollars 123 00:06:00,560 --> 00:06:04,120 Speaker 1: were equal to one of gold. So that was backed 124 00:06:04,160 --> 00:06:08,200 Speaker 1: by gold. Well, um, I'll run you through a little 125 00:06:08,200 --> 00:06:09,560 Speaker 1: bit of history real quick if you want. By the way, 126 00:06:09,600 --> 00:06:11,599 Speaker 1: you're listening to the Markma Show, we're talking about bitcoin. 127 00:06:11,920 --> 00:06:14,479 Speaker 1: We're talking about cryptocurrencies and the decentralized revolution. I am 128 00:06:14,520 --> 00:06:16,800 Speaker 1: talking about some of the biggest fund fear and certainly 129 00:06:16,839 --> 00:06:18,880 Speaker 1: doubt headlines against bitcoin, and we're talking about why it's 130 00:06:18,880 --> 00:06:22,359 Speaker 1: backed by nothing and so um and so at that point, 131 00:06:22,680 --> 00:06:26,599 Speaker 1: the doll that that paper gold certificate, that dollar was 132 00:06:26,720 --> 00:06:30,720 Speaker 1: backed by gold, it was redeemable for gold. In nineteen 133 00:06:30,839 --> 00:06:35,680 Speaker 1: thirty three two they seized the gold. Not only that 134 00:06:35,760 --> 00:06:37,840 Speaker 1: they seize the gold, they made it illegal to even 135 00:06:37,839 --> 00:06:42,320 Speaker 1: own gold. And then as soon as they took everybody's 136 00:06:42,360 --> 00:06:44,520 Speaker 1: gold and they instantly revalued it from twenty dollars an 137 00:06:44,560 --> 00:06:46,599 Speaker 1: ounce of gold to thirty five dollars an ounce of gold, 138 00:06:46,920 --> 00:06:50,120 Speaker 1: meaning they sold sixty of your wealth overnight. M that's 139 00:06:50,120 --> 00:06:52,719 Speaker 1: your government for you. Hopefully that worked out. Well, we 140 00:06:52,720 --> 00:06:55,000 Speaker 1: weren't alive back then, so um didn't matter to me. 141 00:06:55,080 --> 00:06:58,799 Speaker 1: But it set us on this path of continuing debasement. 142 00:06:58,839 --> 00:07:02,680 Speaker 1: And so by nineteen seventy one, I'm just skipping a 143 00:07:02,680 --> 00:07:05,039 Speaker 1: bunch of important dates here, but by nine one, president 144 00:07:05,120 --> 00:07:09,920 Speaker 1: then president President Richard Nixon severed the ties to the 145 00:07:09,920 --> 00:07:12,080 Speaker 1: gold standard. And why is this important, Well, at that 146 00:07:12,160 --> 00:07:16,920 Speaker 1: point the dollar was no longer backed by gold, the note, 147 00:07:16,960 --> 00:07:19,240 Speaker 1: the dollar was no longer backed by anything. So when 148 00:07:19,280 --> 00:07:22,400 Speaker 1: people say, what what is what's bitcoin backed by? Well, 149 00:07:22,440 --> 00:07:26,080 Speaker 1: what's the dollar backed by? People say, oh, it's backed 150 00:07:26,080 --> 00:07:28,960 Speaker 1: by the full faith and credit of the government. What 151 00:07:29,040 --> 00:07:34,760 Speaker 1: does that even mean? That doesn't mean anything. Remember that 152 00:07:34,880 --> 00:07:37,320 Speaker 1: whole thing of what is it backed by? Its backed 153 00:07:37,320 --> 00:07:41,240 Speaker 1: by gold was for paper gold certificates when they were 154 00:07:41,240 --> 00:07:44,360 Speaker 1: backed by gold. As soon as we lost that, there's 155 00:07:44,360 --> 00:07:47,000 Speaker 1: no such thing as anything being backed. Dollars aren't backed 156 00:07:47,000 --> 00:07:51,280 Speaker 1: by anything. Bitcoin is not backed by anything, and realistically 157 00:07:51,480 --> 00:07:54,680 Speaker 1: gold is not backed by anything either. What's gold backed by? 158 00:07:56,240 --> 00:07:58,880 Speaker 1: So that that what is it backed by? Only worked 159 00:07:59,040 --> 00:08:02,520 Speaker 1: when paper dollar were backed by gold. That's what it's for. 160 00:08:02,680 --> 00:08:06,320 Speaker 1: It's a relic. It means nothing. What is gold back by? 161 00:08:06,360 --> 00:08:08,920 Speaker 1: What is anything back by? Okay, so that's the first thing. Now, 162 00:08:09,760 --> 00:08:11,680 Speaker 1: then you might say the next piece of fund might 163 00:08:11,720 --> 00:08:14,000 Speaker 1: be that. And this is a Peter Shift's favorite one 164 00:08:14,320 --> 00:08:18,440 Speaker 1: is that there's no intrinsic value, right because gold, You know, 165 00:08:18,520 --> 00:08:21,240 Speaker 1: gold has intrinsic value, right, I can um I could, 166 00:08:21,480 --> 00:08:23,160 Speaker 1: as Peter Shift says, I can melt it down and 167 00:08:23,280 --> 00:08:26,000 Speaker 1: use it for cuff links. Well, first, Peter, who the 168 00:08:26,000 --> 00:08:29,800 Speaker 1: heck worst cuff links anymore? Anyway, that's the first thing 169 00:08:29,800 --> 00:08:32,199 Speaker 1: I'd say. But so what right. I can make cuff 170 00:08:32,240 --> 00:08:33,720 Speaker 1: links out of a bunch of things. I can make 171 00:08:33,760 --> 00:08:35,640 Speaker 1: them out of aluminum, I can make them out of steel, 172 00:08:35,679 --> 00:08:37,640 Speaker 1: I can make them out of copper. I can make 173 00:08:37,679 --> 00:08:41,240 Speaker 1: them out of a bunch of things. And gold doesn't 174 00:08:41,320 --> 00:08:44,080 Speaker 1: have value because I can make cuff links out of it. 175 00:08:44,840 --> 00:08:47,280 Speaker 1: Gold doesn't have value gold. He says, Well, gold comp 176 00:08:47,320 --> 00:08:49,800 Speaker 1: used for lots of things. That's used for connectors and electronics, 177 00:08:49,800 --> 00:08:52,160 Speaker 1: and it's used for fillings and caps and dental offices 178 00:08:52,200 --> 00:08:54,600 Speaker 1: and blah blah blah. And and and that is true, that 179 00:08:54,720 --> 00:08:57,960 Speaker 1: is absolutely true. But the amount of the amount of 180 00:08:57,960 --> 00:09:02,120 Speaker 1: the value that's derived in gold because of maybe able 181 00:09:02,120 --> 00:09:04,600 Speaker 1: to use it for electronics is very small. It has 182 00:09:04,679 --> 00:09:08,240 Speaker 1: a monetary premium. I'm gonna explain to you more about 183 00:09:08,240 --> 00:09:11,520 Speaker 1: intrinsic value, why intrinsic value is not what you think 184 00:09:11,559 --> 00:09:15,000 Speaker 1: it is, and why bitcoin actually has value. I'm going 185 00:09:15,040 --> 00:09:17,439 Speaker 1: to defeat these fud headlines. You're listening to the Mark 186 00:09:17,480 --> 00:09:20,840 Speaker 1: Moa show. We're talking about bitcoin, We're talking about cryptocurrencies 187 00:09:20,840 --> 00:09:23,640 Speaker 1: and the decentralized revolution, and I am breaking down the 188 00:09:23,679 --> 00:09:27,240 Speaker 1: fud one by one, Um and I got more, So 189 00:09:27,360 --> 00:09:29,280 Speaker 1: don't go away. I'm gonna be right back. All right, 190 00:09:29,320 --> 00:09:31,040 Speaker 1: welcome back. You are listening to the Mark Moa Show. 191 00:09:31,040 --> 00:09:34,160 Speaker 1: We're talking about bitcoin, We're talking about cryptocurrencies. We are 192 00:09:34,200 --> 00:09:38,280 Speaker 1: talking about the decentralized revolution. And today we are talking 193 00:09:38,320 --> 00:09:41,160 Speaker 1: about the fud, the fear, uncertainty and doubt that these 194 00:09:41,200 --> 00:09:44,920 Speaker 1: things that people throw out against bitcoin about cryptocurrencies, and 195 00:09:44,920 --> 00:09:47,559 Speaker 1: they throw these things out without even thinking about them. 196 00:09:47,840 --> 00:09:49,760 Speaker 1: Right Like, as I broke down before we went on 197 00:09:49,800 --> 00:09:52,000 Speaker 1: the break, I talked about why it's backed by nothing, Like, 198 00:09:52,040 --> 00:09:54,679 Speaker 1: what does that even mean? It's an old statement that 199 00:09:54,800 --> 00:09:56,560 Speaker 1: has no relevance today. I'm not gonna go back through that. 200 00:09:57,120 --> 00:09:58,959 Speaker 1: Um if you missed it, you can go catch me 201 00:09:59,000 --> 00:10:01,360 Speaker 1: on demand, go into the podcast. It will be posted 202 00:10:01,440 --> 00:10:03,719 Speaker 1: to search Mark moss I Heart Podcast whatever you'll find 203 00:10:03,720 --> 00:10:06,839 Speaker 1: it market instructors. Anyway, I'm talking about intrinsic demands, so 204 00:10:07,000 --> 00:10:09,600 Speaker 1: our intrinsic value. So Peter Shift says that gold has 205 00:10:09,640 --> 00:10:13,760 Speaker 1: intrinsic value, meaning that um, I can melt it down 206 00:10:13,800 --> 00:10:15,520 Speaker 1: us for cuff links it has, I can use it 207 00:10:15,559 --> 00:10:17,920 Speaker 1: for electronic connectors, I can use it for for crowns 208 00:10:17,920 --> 00:10:20,840 Speaker 1: in your tooth or whatever. But the value of gold 209 00:10:21,120 --> 00:10:24,120 Speaker 1: isn't because it can be used as a gold connector 210 00:10:25,160 --> 00:10:28,400 Speaker 1: there is I hate to tell you this, but all 211 00:10:28,760 --> 00:10:31,600 Speaker 1: value is subjective. I mean, I mean, I mean, let 212 00:10:31,640 --> 00:10:33,839 Speaker 1: me say it another way. There is no such thing 213 00:10:33,880 --> 00:10:37,480 Speaker 1: as intrinsic value. What come on, Mark, you gotta be 214 00:10:37,600 --> 00:10:41,800 Speaker 1: kidding me? What are you? Uh? You crazy? My? My 215 00:10:42,040 --> 00:10:46,760 Speaker 1: PhD economics professor taught me about intrinsic value. Well, let 216 00:10:46,760 --> 00:10:50,000 Speaker 1: me tell you something. He's wrong. Everything you've been taught 217 00:10:50,000 --> 00:10:54,280 Speaker 1: about money is wrong. It's a big statement. But there's 218 00:10:54,280 --> 00:10:55,800 Speaker 1: no such thing as intrinsic value. Let me let me, 219 00:10:55,840 --> 00:10:58,480 Speaker 1: let me prove it to you. So if you and 220 00:10:58,520 --> 00:11:00,800 Speaker 1: I were stuck on a deserted island, and we had 221 00:11:00,960 --> 00:11:04,480 Speaker 1: two briefcases next to us, one briefcase with a billion 222 00:11:04,520 --> 00:11:09,200 Speaker 1: dollars of cash and one with a billion dollars of gold, 223 00:11:10,360 --> 00:11:12,480 Speaker 1: but we had nothing to spend it on. We had 224 00:11:12,480 --> 00:11:14,240 Speaker 1: no boat, we had no phone to call for help. 225 00:11:14,280 --> 00:11:16,360 Speaker 1: We had no food, no water, no nothing, no shelter. 226 00:11:16,960 --> 00:11:19,120 Speaker 1: How much is that cash or how much is that 227 00:11:19,200 --> 00:11:24,240 Speaker 1: gold worth? It's worth absolutely zero. Can't eat the gold, 228 00:11:24,520 --> 00:11:28,920 Speaker 1: can't eat the cash. Right, wealth is goods and services. 229 00:11:29,280 --> 00:11:33,800 Speaker 1: I need goods and services. So that gold by itself 230 00:11:34,000 --> 00:11:37,840 Speaker 1: has no intrinsic value. If I have nothing to trade 231 00:11:37,960 --> 00:11:42,800 Speaker 1: that for, it's worth zero to me. Now let's talk 232 00:11:42,800 --> 00:11:46,000 Speaker 1: about intrinsic value. Now, last night I had dinner. I 233 00:11:46,040 --> 00:11:50,480 Speaker 1: didn't eat all my food. Those leftovers had no value 234 00:11:50,480 --> 00:11:52,960 Speaker 1: to me, and they got thrown in the trash. As 235 00:11:52,960 --> 00:11:54,280 Speaker 1: a matter of fact, I probably had a little bit 236 00:11:54,320 --> 00:11:56,200 Speaker 1: of water in my glass that I didn't drink and 237 00:11:56,240 --> 00:11:58,000 Speaker 1: I dumped it out because that little bit of water 238 00:11:58,120 --> 00:12:01,440 Speaker 1: had no value to me. But if I was on 239 00:12:01,480 --> 00:12:04,079 Speaker 1: that deserted island and I was starving to death or 240 00:12:04,120 --> 00:12:07,640 Speaker 1: starving or or a lack of water, I would trade 241 00:12:07,760 --> 00:12:11,079 Speaker 1: every single dollar or every single ounce of gold that 242 00:12:11,120 --> 00:12:14,120 Speaker 1: I had in those briefcases for that leftover food or 243 00:12:14,120 --> 00:12:18,320 Speaker 1: for that left over water. Those have intrinsic value because 244 00:12:18,360 --> 00:12:21,000 Speaker 1: I can at least eat or drink them. That makes sense. 245 00:12:21,920 --> 00:12:26,000 Speaker 1: All value is subjective. So we give value to things 246 00:12:26,040 --> 00:12:28,920 Speaker 1: because we value them, because we value the properties or 247 00:12:28,960 --> 00:12:30,480 Speaker 1: what they can do with them. And so back to 248 00:12:30,520 --> 00:12:33,480 Speaker 1: bitcoin has no intrinsic value. Bitcoin is the same value 249 00:12:33,480 --> 00:12:35,840 Speaker 1: that that gold has. It has value that we have 250 00:12:36,000 --> 00:12:41,800 Speaker 1: given it. That makes sense. All right, Um, Now another one, 251 00:12:41,840 --> 00:12:44,720 Speaker 1: as they say there's no way to value gold Okay, 252 00:12:44,920 --> 00:12:47,040 Speaker 1: that's that's another one, another fund. There's no way to 253 00:12:47,120 --> 00:12:51,360 Speaker 1: value gold well again, that's an old statement. Now, we 254 00:12:51,440 --> 00:12:58,360 Speaker 1: can value stocks because a real company produces profits, and 255 00:12:58,400 --> 00:13:01,160 Speaker 1: we could look at their profits and then assign a 256 00:13:01,240 --> 00:13:04,560 Speaker 1: multiple to it. So for example, um, if you run 257 00:13:04,600 --> 00:13:07,280 Speaker 1: like a regular kind of entrepreneurial business, like a service 258 00:13:07,320 --> 00:13:12,000 Speaker 1: based business, it might be worth three to four times profits, 259 00:13:13,400 --> 00:13:18,480 Speaker 1: maybe one time sales, right, so four times profit. Now 260 00:13:19,040 --> 00:13:22,640 Speaker 1: a company, you know, a SMP might be worth ten 261 00:13:22,720 --> 00:13:28,840 Speaker 1: times or twenty times, or today who knows, fifty times. 262 00:13:28,840 --> 00:13:31,480 Speaker 1: But again, so even though we can value that company 263 00:13:31,520 --> 00:13:33,760 Speaker 1: because it creates profits and revenue, and we can use 264 00:13:33,760 --> 00:13:37,160 Speaker 1: those profits and revenue to measure or to value that company, 265 00:13:37,200 --> 00:13:39,560 Speaker 1: where does the multiple come from? Why is it four 266 00:13:39,600 --> 00:13:42,040 Speaker 1: times or why is it fifty times? Where did that 267 00:13:42,120 --> 00:13:46,160 Speaker 1: come from? It's because what people are willing to pay 268 00:13:46,240 --> 00:13:51,599 Speaker 1: for it? Does that make sense? All value is subjective, 269 00:13:52,040 --> 00:13:55,440 Speaker 1: all right? So I broke those down for you. Let's 270 00:13:55,440 --> 00:13:56,800 Speaker 1: see what other ones we got here. Like I said, 271 00:13:56,800 --> 00:13:59,160 Speaker 1: I have a fifteen or twenty on my list. Uh, 272 00:13:59,280 --> 00:14:04,359 Speaker 1: let's say, oh I love this one. Environmental concerns. Bitcoin 273 00:14:04,600 --> 00:14:07,320 Speaker 1: is a waste of energy. Bitcoin is going to boil 274 00:14:07,520 --> 00:14:12,320 Speaker 1: the oceans. Bitcoin uses more energy than blah blah blah, 275 00:14:12,360 --> 00:14:16,000 Speaker 1: small countries or whatever. Okay, well that kind of goes 276 00:14:16,040 --> 00:14:18,520 Speaker 1: back to a little bit like a subjective value, which 277 00:14:18,600 --> 00:14:22,320 Speaker 1: is um, who's to say what a waste is? One 278 00:14:22,320 --> 00:14:25,080 Speaker 1: man's trash is another man's treasure. Um. You might think 279 00:14:25,080 --> 00:14:27,720 Speaker 1: that I'm wasting my time by meditating, but that might 280 00:14:27,720 --> 00:14:31,040 Speaker 1: be highly valuable to me. I might say that you 281 00:14:31,120 --> 00:14:33,080 Speaker 1: playing video games as a waste of time, but that 282 00:14:33,200 --> 00:14:36,360 Speaker 1: might be therapeutic for you. Right, Who's to say what 283 00:14:36,400 --> 00:14:39,480 Speaker 1: a waste is? And if I want to spend my money, 284 00:14:39,560 --> 00:14:41,600 Speaker 1: my time, my resource on something, who are you to 285 00:14:41,720 --> 00:14:43,960 Speaker 1: say what that waste is? All right, that's one thing, 286 00:14:44,000 --> 00:14:47,360 Speaker 1: but let's get back to um. Some of this where 287 00:14:47,480 --> 00:14:50,480 Speaker 1: it's a waste of energy, it's using up energy, and 288 00:14:50,520 --> 00:14:53,560 Speaker 1: this is based on a theory that using energy is bad, 289 00:14:53,840 --> 00:14:57,200 Speaker 1: So right off the bat, it's a faulty argument. Humankind 290 00:14:57,240 --> 00:15:00,880 Speaker 1: has flourished because we use energy, not the other way around. 291 00:15:00,880 --> 00:15:02,800 Speaker 1: I hate to break it to you, but the world 292 00:15:02,920 --> 00:15:06,800 Speaker 1: is not a hospitable place without energy. People frozen to death, 293 00:15:07,240 --> 00:15:10,120 Speaker 1: people died of heat stroke, people died of famine, people 294 00:15:10,160 --> 00:15:13,960 Speaker 1: died of floods. It was through using energy that we've 295 00:15:13,960 --> 00:15:16,680 Speaker 1: been able to transform the world into a place that 296 00:15:16,840 --> 00:15:19,000 Speaker 1: is actually hospitable. And as a matter of fact, over 297 00:15:19,000 --> 00:15:22,200 Speaker 1: the last hundred years, since we've developed oil, the rate 298 00:15:22,560 --> 00:15:26,160 Speaker 1: of death caused by UM natural disasters has gone down 299 00:15:26,160 --> 00:15:29,840 Speaker 1: by O. It's through the use of energy that humans 300 00:15:29,840 --> 00:15:32,920 Speaker 1: have flourished, not because not not in the natural environment. 301 00:15:32,960 --> 00:15:35,120 Speaker 1: But let's get back to this waste of energy piece, 302 00:15:35,120 --> 00:15:40,560 Speaker 1: and let's just make this very very simple. So UM, 303 00:15:40,600 --> 00:15:43,840 Speaker 1: in California where I'm recording from at this moment, in 304 00:15:43,880 --> 00:15:46,000 Speaker 1: the summertime, at the top tier, we have a tiered 305 00:15:46,040 --> 00:15:49,400 Speaker 1: electric electric system. UM, you pay more and more and more, 306 00:15:49,440 --> 00:15:51,800 Speaker 1: like more electricity used. UM in the summer, I could 307 00:15:51,800 --> 00:15:57,040 Speaker 1: pay forty cents per kilowatt hour to use electricityts UM. 308 00:15:57,080 --> 00:15:59,240 Speaker 1: There's no way I could mind bitcoin here. That's too expensive. 309 00:15:59,720 --> 00:16:02,520 Speaker 1: When mind bitcoin, electricities are single biggest expense. So you 310 00:16:02,520 --> 00:16:04,920 Speaker 1: want to find the cheapest energy to be competitive in 311 00:16:04,960 --> 00:16:07,560 Speaker 1: bitcoin minding. You probably need about five cent power. Most 312 00:16:07,560 --> 00:16:10,120 Speaker 1: of the big industrial UM places that are mining bitcoin 313 00:16:10,160 --> 00:16:12,920 Speaker 1: and get it about three cents power. Some are even 314 00:16:12,960 --> 00:16:14,880 Speaker 1: less than three cents if you can believe that. So 315 00:16:14,920 --> 00:16:17,280 Speaker 1: you might say Mark, Well, why the heck is is 316 00:16:17,360 --> 00:16:20,200 Speaker 1: electricity in California forty cents, but then it's three cents 317 00:16:20,200 --> 00:16:22,880 Speaker 1: somewhere else. How could it be that cheap? Well, it's easy, 318 00:16:22,960 --> 00:16:26,760 Speaker 1: I can tell you. It's called supply and demand. When 319 00:16:26,800 --> 00:16:29,480 Speaker 1: there is more demand, then there is supply of something, 320 00:16:29,920 --> 00:16:32,000 Speaker 1: the price goes up. When there's more supply than there's demand, 321 00:16:32,040 --> 00:16:34,120 Speaker 1: the price goes down. So in California, we don't have 322 00:16:34,200 --> 00:16:36,920 Speaker 1: enough electricity. We have rolling blackouts all the time. Uh, 323 00:16:36,960 --> 00:16:38,840 Speaker 1: there's a lot of demand for electricity, so the price 324 00:16:38,840 --> 00:16:41,160 Speaker 1: is very high. But in some parts of the world 325 00:16:41,320 --> 00:16:44,240 Speaker 1: and even the country, there's more supply than there's demand. 326 00:16:44,280 --> 00:16:47,240 Speaker 1: They've built these new hydro electric plants, they've built these 327 00:16:47,240 --> 00:16:52,320 Speaker 1: new um whatever electricty generation plants, and there's nobody there 328 00:16:52,320 --> 00:16:55,880 Speaker 1: to use all the electricity it's being generated. So it's 329 00:16:55,960 --> 00:16:59,440 Speaker 1: literally that's literally being wasted. Meaning when I say wasted, 330 00:16:59,600 --> 00:17:03,640 Speaker 1: meaning are creating electricity but nobody's even using it. So 331 00:17:03,640 --> 00:17:06,639 Speaker 1: they're creating it and it's not being used. That's a waste. 332 00:17:07,400 --> 00:17:13,520 Speaker 1: And so bitcoin can only operate on wasted electricity. So 333 00:17:13,920 --> 00:17:16,320 Speaker 1: in the world, if you measure all the electricity in 334 00:17:16,359 --> 00:17:18,800 Speaker 1: the entire world, there's a big piece of it, a 335 00:17:18,800 --> 00:17:20,600 Speaker 1: big chunk of it that is actually being produced and 336 00:17:20,680 --> 00:17:23,959 Speaker 1: not being used. That's called wasted and Bitcoin only uses 337 00:17:24,040 --> 00:17:29,520 Speaker 1: a small, like single digit percentage of the wasted energy. 338 00:17:29,760 --> 00:17:33,320 Speaker 1: That's what bitcoin uses. Bitcoin is not competing in California 339 00:17:33,560 --> 00:17:37,520 Speaker 1: for electricity that's in demand. Bitcoin only uses electricity that's 340 00:17:37,560 --> 00:17:41,600 Speaker 1: being created and is not otherwise being used. So if 341 00:17:41,600 --> 00:17:43,600 Speaker 1: they say it's boiling in the ocean and they want 342 00:17:43,600 --> 00:17:46,040 Speaker 1: to take a look at, uh, the amount of energy 343 00:17:46,040 --> 00:17:50,200 Speaker 1: it's being consumed, it's actually consuming energy that would already 344 00:17:50,320 --> 00:17:52,600 Speaker 1: have not been used or not being wasted. All right, 345 00:17:52,760 --> 00:17:54,719 Speaker 1: you listen to the markma Show. We're talking about bitcoin, 346 00:17:54,760 --> 00:17:57,840 Speaker 1: We're talking about cryptocurrencies. We're talking about the decentralized revolution. 347 00:17:57,880 --> 00:18:01,760 Speaker 1: Today we are breaking down some of the top fud, fear, uncertainty, 348 00:18:01,800 --> 00:18:04,600 Speaker 1: and doubt headlines that might be holding you back from 349 00:18:04,680 --> 00:18:07,880 Speaker 1: jumping into bitcoin. I got a bunch more to get through, 350 00:18:08,040 --> 00:18:09,959 Speaker 1: so don't go away. I'll be right back. All right, 351 00:18:10,000 --> 00:18:11,920 Speaker 1: welcome back. You are listening to the Mark Moa Show. 352 00:18:11,920 --> 00:18:14,480 Speaker 1: We're talking about bitcoin, We're talking about cryptocurrencies, and we 353 00:18:14,520 --> 00:18:17,399 Speaker 1: are talking about the decentralized revolution. Of course, I'm with 354 00:18:17,440 --> 00:18:20,200 Speaker 1: you each and every week. So if you just tune 355 00:18:20,240 --> 00:18:22,840 Speaker 1: in for the first time, make sure to put down 356 00:18:23,080 --> 00:18:25,120 Speaker 1: mark on your calendar right now, this day, this time, 357 00:18:25,119 --> 00:18:26,640 Speaker 1: this channel, and tune in with me each and every 358 00:18:26,640 --> 00:18:28,600 Speaker 1: week where I guarantee it's going to be the most 359 00:18:28,720 --> 00:18:31,439 Speaker 1: educational and the most profitable part of your week. So 360 00:18:31,520 --> 00:18:33,360 Speaker 1: make a part of your routine. Put in your phone 361 00:18:33,440 --> 00:18:35,200 Speaker 1: right now. Unless you're driving, then wait to take stop. 362 00:18:35,480 --> 00:18:37,120 Speaker 1: All right now, I'm breaking down some of the top 363 00:18:37,200 --> 00:18:40,439 Speaker 1: FUD headlines. FUD stands for fear, uncertainty, and doubt. We 364 00:18:40,440 --> 00:18:43,760 Speaker 1: talked about why bitcoin being backed by nothing is ridiculous, 365 00:18:43,880 --> 00:18:46,360 Speaker 1: why it has no intrinsic values ridiculous, there's no way 366 00:18:46,359 --> 00:18:48,280 Speaker 1: to value at this ridiculous. We talked about the environmental 367 00:18:48,280 --> 00:18:50,320 Speaker 1: concerns and why the waste of energy well that's ridiculous. 368 00:18:51,040 --> 00:18:52,720 Speaker 1: If you missed any of those, I'm sorry. I'm not 369 00:18:52,720 --> 00:18:55,040 Speaker 1: going to recap them. But you can go listen to 370 00:18:55,080 --> 00:18:58,720 Speaker 1: this on demand. So just go search for the Mark 371 00:18:58,760 --> 00:19:01,840 Speaker 1: Moss podcast Constructors Podcast and you can listen to it. 372 00:19:01,760 --> 00:19:04,040 Speaker 1: It will be out later in the week. Now, let's 373 00:19:04,119 --> 00:19:07,600 Speaker 1: keep going down the list here. Let's see uh oh, 374 00:19:07,640 --> 00:19:10,200 Speaker 1: I love this one. I love this one bitcoin. It's 375 00:19:10,200 --> 00:19:14,440 Speaker 1: only used for black market criminal activity. So I couldn't 376 00:19:14,520 --> 00:19:19,800 Speaker 1: use that because criminals use it. Right, Oh, this is 377 00:19:19,840 --> 00:19:21,360 Speaker 1: a big one. We can dig We can dig deep 378 00:19:21,359 --> 00:19:23,600 Speaker 1: into this one. All right. So, first of all, criminals 379 00:19:23,640 --> 00:19:26,200 Speaker 1: probably use cell phones, They probably use cars, They probably 380 00:19:26,240 --> 00:19:29,159 Speaker 1: drink water. So should you stop drinking water because criminals 381 00:19:29,200 --> 00:19:32,600 Speaker 1: drink water too? Should you stop driving cars because criminals 382 00:19:32,680 --> 00:19:37,280 Speaker 1: drive cars? Yeah, it's pretty ridiculous, right when you think 383 00:19:37,280 --> 00:19:39,080 Speaker 1: about it that it sounds pretty ridiculous. Right, But let's 384 00:19:39,119 --> 00:19:40,679 Speaker 1: let's dig into this even a little bit further. So, 385 00:19:40,720 --> 00:19:43,480 Speaker 1: first off, criminals also sleep in beds. Should I stop 386 00:19:43,560 --> 00:19:47,560 Speaker 1: sleeping in beds? Where does it stop? Where does the 387 00:19:47,560 --> 00:19:49,480 Speaker 1: madness stop? But let's think about this for a minute. 388 00:19:49,600 --> 00:19:53,280 Speaker 1: Why why would you say that criminals use it? Well, 389 00:19:55,040 --> 00:19:58,720 Speaker 1: one of the reasons why it might be actually ideal 390 00:19:58,800 --> 00:20:03,440 Speaker 1: for criminals to you is is because it can't be censored. 391 00:20:04,119 --> 00:20:06,760 Speaker 1: What does that mean? So when I have dollars as 392 00:20:06,800 --> 00:20:07,960 Speaker 1: a matter of fact, I had to go to the 393 00:20:07,960 --> 00:20:09,919 Speaker 1: bank yesterday and I had to wire someone money. I 394 00:20:09,920 --> 00:20:12,040 Speaker 1: was wiring money to my sister as a matter of fact, 395 00:20:12,600 --> 00:20:14,879 Speaker 1: And uh, I won't go into why, but the person 396 00:20:14,920 --> 00:20:16,520 Speaker 1: at the bank said, hey, I just want to make sure. 397 00:20:17,240 --> 00:20:20,000 Speaker 1: Do you know this person? I said, yeah, yeah, I 398 00:20:20,000 --> 00:20:23,160 Speaker 1: know them. Uh are you are you sure though? Are 399 00:20:23,200 --> 00:20:26,520 Speaker 1: you sure it's the right wire information? Yeah? Um, I'm positive. 400 00:20:26,520 --> 00:20:29,000 Speaker 1: It's my sister. It's my my blood, I know. But 401 00:20:29,040 --> 00:20:30,159 Speaker 1: I just want to make sure because you know, a 402 00:20:30,200 --> 00:20:32,600 Speaker 1: lot of times people get these fishing attacks. I'm like, dude, look, 403 00:20:32,600 --> 00:20:35,520 Speaker 1: it's my freaking sister right like anyway, but they want 404 00:20:35,520 --> 00:20:37,320 Speaker 1: to they want to make sure who I wire. Now 405 00:20:37,359 --> 00:20:39,520 Speaker 1: that was locally here in California. When I've been wiring 406 00:20:39,520 --> 00:20:42,600 Speaker 1: from from Puerto Rico Bank, every time I send a wire, 407 00:20:42,600 --> 00:20:44,520 Speaker 1: they have to email me and say what is the 408 00:20:44,520 --> 00:20:47,360 Speaker 1: purpose of this wire right now? If I give them 409 00:20:47,359 --> 00:20:49,840 Speaker 1: a reason why, they don't like, they don't allow me 410 00:20:49,920 --> 00:20:52,000 Speaker 1: to send that money. As a matter of fact, PAPAL 411 00:20:52,160 --> 00:20:54,000 Speaker 1: came up with the Anti Defamation League and made a 412 00:20:54,000 --> 00:20:56,080 Speaker 1: whole list of all these people that are blacklisted and 413 00:20:56,080 --> 00:20:59,720 Speaker 1: shouldn't be able to get um money sent to them. 414 00:20:59,760 --> 00:21:03,640 Speaker 1: So you do not have the right to send your 415 00:21:03,680 --> 00:21:07,280 Speaker 1: money to whoever you want to. That's a problem, isn't it. 416 00:21:07,320 --> 00:21:10,720 Speaker 1: I mean, it's your money. I mean, if you're supporting 417 00:21:10,720 --> 00:21:14,639 Speaker 1: Wiki leaks, Nope, you can't send them money, right, So, um, 418 00:21:15,680 --> 00:21:18,560 Speaker 1: in a criminal black market thing black What is a 419 00:21:18,560 --> 00:21:22,000 Speaker 1: black market? Well, the black market is anything the government 420 00:21:22,000 --> 00:21:24,600 Speaker 1: doesn't allow. Well, the government hardly allows anything anymore. So 421 00:21:24,720 --> 00:21:27,440 Speaker 1: everything is built, Everything that's going into this parallel world 422 00:21:27,560 --> 00:21:29,920 Speaker 1: is technically black market. If if the government can't make 423 00:21:29,920 --> 00:21:32,080 Speaker 1: money giving you a license for it, then I guess 424 00:21:32,080 --> 00:21:35,520 Speaker 1: it's pretty much a black market today, and you don't 425 00:21:35,520 --> 00:21:37,120 Speaker 1: have the right to spend your money on it. Really, Well, 426 00:21:37,200 --> 00:21:40,000 Speaker 1: if I have bitcoin, I can send my money to 427 00:21:40,119 --> 00:21:43,479 Speaker 1: whoever I want. So what I would say about that 428 00:21:43,600 --> 00:21:46,360 Speaker 1: is that if if criminals are using it, that proves 429 00:21:46,400 --> 00:21:49,600 Speaker 1: the use case. It proves the use case. Well, if 430 00:21:49,640 --> 00:21:51,400 Speaker 1: it's good enough for criminals, is good enough for me. 431 00:21:51,480 --> 00:21:54,000 Speaker 1: Now what's a funny little antidote to this is that 432 00:21:54,080 --> 00:21:57,040 Speaker 1: all technology starts out with criminals, well, at least some 433 00:21:57,200 --> 00:21:59,200 Speaker 1: kind of dirty narrative. So, as a matter of fact, 434 00:21:59,240 --> 00:22:02,720 Speaker 1: does anybody know the origins of VCRs? Go ahead and 435 00:22:02,760 --> 00:22:04,560 Speaker 1: raise your hand if you do, well, I can't see 436 00:22:04,560 --> 00:22:11,600 Speaker 1: your hand. But it started out as porn pornography, I know, pornography. 437 00:22:11,640 --> 00:22:13,440 Speaker 1: As a matter of fact, that was how we got 438 00:22:13,440 --> 00:22:15,600 Speaker 1: started using it for pornography, not that it was criminal, 439 00:22:16,520 --> 00:22:20,720 Speaker 1: but um, people were afraid to use it because of 440 00:22:20,720 --> 00:22:23,000 Speaker 1: the stigma that was on VCRs. And it was Disney 441 00:22:23,040 --> 00:22:27,679 Speaker 1: that finally came out with one of their movies on 442 00:22:27,680 --> 00:22:31,359 Speaker 1: on vc v vhs on the VCR that finally broke 443 00:22:31,440 --> 00:22:33,639 Speaker 1: that stigma. And then we have the Internet. What was 444 00:22:33,680 --> 00:22:36,400 Speaker 1: the Internet used for in the beginning, the same thing. 445 00:22:36,840 --> 00:22:38,919 Speaker 1: And so we we see all new technologies. You're kind 446 00:22:38,960 --> 00:22:41,160 Speaker 1: of used for these uh you know, black mark kind 447 00:22:41,160 --> 00:22:43,639 Speaker 1: of nefarest types of things. And so could bitcoin be 448 00:22:43,720 --> 00:22:46,080 Speaker 1: used for criminal sure, just like cars and water and 449 00:22:46,080 --> 00:22:49,440 Speaker 1: and and so forth. Hopefully that makes sense. All Right, 450 00:22:49,520 --> 00:22:52,520 Speaker 1: I'm gonna talk about these two together, three together. Here 451 00:22:52,520 --> 00:22:58,080 Speaker 1: we go. Bitcoin is too volatile as too risky. Okay, Well, 452 00:22:58,400 --> 00:22:59,960 Speaker 1: by the way, you're listening to the markma Show or 453 00:23:00,000 --> 00:23:02,320 Speaker 1: talking about bitcoin, we're talking about cryptocurrencies, and we're talking 454 00:23:02,320 --> 00:23:04,800 Speaker 1: about the decentralized Revolution, and I am knocking down the 455 00:23:04,840 --> 00:23:07,960 Speaker 1: top fud if you're in certainty doubt headlines. Um as, 456 00:23:08,000 --> 00:23:09,840 Speaker 1: I ran this poll on Twitter. By the way, if 457 00:23:09,840 --> 00:23:12,480 Speaker 1: you're on Twitter, hit me up one Mark Moss the 458 00:23:12,560 --> 00:23:16,959 Speaker 1: number one Mark Moss. Um. Alright, so it's too volatile 459 00:23:17,000 --> 00:23:20,119 Speaker 1: too risky. So what does that mean? What is volatile? Well, 460 00:23:20,160 --> 00:23:22,879 Speaker 1: vlatile means it goes up and down a lot, right, Well, 461 00:23:22,960 --> 00:23:26,480 Speaker 1: how does bitcoin go from zero to being worth fifty 462 00:23:26,560 --> 00:23:33,600 Speaker 1: thousand dollars without volatility? You can't, right, I mean, volatility 463 00:23:33,600 --> 00:23:36,440 Speaker 1: would imply that it goes neither up nor down. So 464 00:23:36,640 --> 00:23:38,440 Speaker 1: you can't have it going up if it doesn't go down. 465 00:23:38,440 --> 00:23:40,600 Speaker 1: And so the faster that it goes up, the faster 466 00:23:40,640 --> 00:23:42,440 Speaker 1: it goes down. So it's very volatile up and down. 467 00:23:43,080 --> 00:23:46,520 Speaker 1: But if you zoom out you see a lot of 468 00:23:46,560 --> 00:23:47,879 Speaker 1: that volatility to go away. So what do I mean 469 00:23:47,960 --> 00:23:49,719 Speaker 1: by that? So, for example, if you look at the 470 00:23:49,760 --> 00:23:53,880 Speaker 1: lowest price of bitcoin every single year, it's always been 471 00:23:53,960 --> 00:23:55,639 Speaker 1: up as a matter of fac except for one year 472 00:23:56,280 --> 00:23:58,159 Speaker 1: was a little bit lower, but every year it's been up. 473 00:23:58,200 --> 00:24:00,399 Speaker 1: So does that look too volatile because that means that 474 00:24:00,560 --> 00:24:02,960 Speaker 1: the lowest price point has been higher every single year. 475 00:24:03,040 --> 00:24:07,720 Speaker 1: That doesn't seem volatile to me. I would say zoom out. Um. 476 00:24:07,760 --> 00:24:09,480 Speaker 1: In real estate, we kind of have this thing where 477 00:24:09,520 --> 00:24:10,919 Speaker 1: it's like, hey, don't buy a house unless you plan 478 00:24:11,040 --> 00:24:12,840 Speaker 1: to live there for five years, because you know, that's 479 00:24:12,880 --> 00:24:15,320 Speaker 1: kind of like the real estate cycle. Bitcoin is kind 480 00:24:15,320 --> 00:24:17,280 Speaker 1: of the same way. Um, there's never been more than 481 00:24:17,320 --> 00:24:19,480 Speaker 1: a three year period where bitcoin has been down. So 482 00:24:19,480 --> 00:24:23,320 Speaker 1: you could have bought like a peak before it rose 483 00:24:23,359 --> 00:24:27,720 Speaker 1: up to almost and then dropped off pretty hard in teen, 484 00:24:28,480 --> 00:24:30,200 Speaker 1: but there was even if you bought at the peak, 485 00:24:30,280 --> 00:24:32,280 Speaker 1: within three years, you were already back in profit again. 486 00:24:32,280 --> 00:24:34,639 Speaker 1: So there's never a point in in UH in history 487 00:24:34,680 --> 00:24:36,040 Speaker 1: that it's been down for more than three years. So, 488 00:24:36,320 --> 00:24:37,879 Speaker 1: just like real estate, don't buy unless you plan to 489 00:24:37,920 --> 00:24:39,520 Speaker 1: hold it for at least five years. Don't buy a 490 00:24:39,520 --> 00:24:41,280 Speaker 1: bitcoin unless you plan to hold it for three years. 491 00:24:41,320 --> 00:24:45,160 Speaker 1: That takes the risk out of it. Zoom out. Volatility 492 00:24:45,200 --> 00:24:48,439 Speaker 1: works both ways, all right, Now it's too risky. What 493 00:24:48,480 --> 00:24:51,000 Speaker 1: does that mean? Well, I guess the volatility is risky. Now. 494 00:24:51,080 --> 00:24:53,359 Speaker 1: I wouldn't advise you to put the money in there 495 00:24:53,440 --> 00:24:56,119 Speaker 1: that you need to buy a car or pay for 496 00:24:56,280 --> 00:24:58,679 Speaker 1: you know, something big or something something big in the 497 00:24:58,680 --> 00:25:00,680 Speaker 1: next couple of months, because yeah, it be lower in 498 00:25:00,720 --> 00:25:04,199 Speaker 1: the next couple of months. Zoom out, put money in 499 00:25:04,280 --> 00:25:06,399 Speaker 1: that you can afford to leave there for a long 500 00:25:06,440 --> 00:25:10,480 Speaker 1: period of time. Um. And then the next one kind 501 00:25:10,480 --> 00:25:13,280 Speaker 1: of plays into this, which is I missed the boat 502 00:25:13,720 --> 00:25:15,880 Speaker 1: and actually uh, two of these go together and missed 503 00:25:15,880 --> 00:25:19,359 Speaker 1: the boat. It's too expensive. What about all the other coins? 504 00:25:19,400 --> 00:25:22,159 Speaker 1: Let's let's talk about those together. I missed the boat's 505 00:25:22,200 --> 00:25:25,920 Speaker 1: too expensive. Well that's a problem, uh, And I think 506 00:25:25,920 --> 00:25:28,919 Speaker 1: that's easily addressed. So what do I mean by that? 507 00:25:29,160 --> 00:25:32,440 Speaker 1: So I missed the boat it's too expensive, I would 508 00:25:32,480 --> 00:25:39,000 Speaker 1: say too expensive compared to what I'll wait, too expensive 509 00:25:39,040 --> 00:25:41,320 Speaker 1: compared to what too expensive compared to where it was 510 00:25:41,359 --> 00:25:43,639 Speaker 1: when it was at zero. Yeah, it is a lot 511 00:25:43,680 --> 00:25:46,400 Speaker 1: more expensive than it was zero. Or is it too 512 00:25:46,400 --> 00:25:49,439 Speaker 1: expensive compared to where it will be at a million 513 00:25:49,480 --> 00:25:52,920 Speaker 1: dollars in ten years from now? Because if you could 514 00:25:52,960 --> 00:25:55,080 Speaker 1: buy it for fifty thousands to day and it's worth 515 00:25:55,080 --> 00:25:57,240 Speaker 1: a million dollars and ten years, I would say big 516 00:25:57,280 --> 00:26:01,040 Speaker 1: Win is actually pretty darn cheap. Now, if you're saying 517 00:26:01,040 --> 00:26:03,200 Speaker 1: it's expensive to where it was in the past, well 518 00:26:03,240 --> 00:26:05,240 Speaker 1: sure it's expensive where in the past. But what are 519 00:26:05,280 --> 00:26:09,520 Speaker 1: you measuring it too? That's the question? All right, I 520 00:26:09,560 --> 00:26:13,720 Speaker 1: missed the boat. Now, Um, Amazon when it's launched was 521 00:26:13,760 --> 00:26:15,359 Speaker 1: a five bucks. It went to eighty bucks by the 522 00:26:15,440 --> 00:26:17,120 Speaker 1: year two thousand, dropped all the way back to five 523 00:26:17,119 --> 00:26:19,359 Speaker 1: bucks by the year two thousand one, got back up 524 00:26:19,359 --> 00:26:21,840 Speaker 1: to eighty bucks, and people said, ah, I missed it. 525 00:26:21,880 --> 00:26:23,920 Speaker 1: I missed the dip at five bucks. Now it's eighty bucks. 526 00:26:23,920 --> 00:26:27,639 Speaker 1: It's too expensive. Then it was a hundred bucks, and 527 00:26:27,640 --> 00:26:29,360 Speaker 1: a five hundred bucks and a thousand bucks. Oh, it's 528 00:26:29,400 --> 00:26:33,160 Speaker 1: way too expensive, expensive compared to what compared to where 529 00:26:33,200 --> 00:26:36,440 Speaker 1: it was, or compared to where it's going. At a 530 00:26:36,520 --> 00:26:38,720 Speaker 1: hundred bucks five hundred bucks, that thousand bucks was still 531 00:26:38,760 --> 00:26:40,720 Speaker 1: cheap compared to where it's going. So if you think 532 00:26:40,760 --> 00:26:43,480 Speaker 1: about why are you buying bitcoin you believe it's gonna 533 00:26:43,480 --> 00:26:45,919 Speaker 1: be worth more in the future. How much do you 534 00:26:46,000 --> 00:26:47,680 Speaker 1: think it will be worth in the future. I think 535 00:26:47,680 --> 00:26:49,480 Speaker 1: it'd be worth five hundred thousand dollars per coin in 536 00:26:49,520 --> 00:26:52,679 Speaker 1: the next five years. I think that's very realistic in 537 00:26:52,720 --> 00:26:56,040 Speaker 1: my opinion. So if I think it can get there, 538 00:26:56,600 --> 00:26:59,720 Speaker 1: then if it's worth five five years, is fifty expensive 539 00:26:59,760 --> 00:27:01,680 Speaker 1: or is it cheap? Now? If you don't think it 540 00:27:01,720 --> 00:27:03,080 Speaker 1: can be worth more in the future than I guess 541 00:27:03,080 --> 00:27:07,439 Speaker 1: that kind of negates the whole argument. Um, So if 542 00:27:07,480 --> 00:27:08,880 Speaker 1: you missed, if you feel like you missed the boat, 543 00:27:09,280 --> 00:27:11,119 Speaker 1: I'd say we're still early. In The very fact that 544 00:27:11,160 --> 00:27:15,840 Speaker 1: you're asking that question shows just how early we are. 545 00:27:16,640 --> 00:27:18,200 Speaker 1: All right, you listen to the Markma Show. We're talking 546 00:27:18,240 --> 00:27:20,720 Speaker 1: about bitcoin, of course, we're talking about cryptocurrencies and the 547 00:27:20,720 --> 00:27:25,120 Speaker 1: decentralized revolution. I'm breaking down the fud headlines one by 548 00:27:25,160 --> 00:27:28,160 Speaker 1: one by one. I got a whole stack that I'm 549 00:27:28,160 --> 00:27:30,320 Speaker 1: gonna go through. I'm gonna break these down as fast 550 00:27:30,320 --> 00:27:32,399 Speaker 1: as I can. I'll be right back. Don't going. All right, 551 00:27:32,400 --> 00:27:34,800 Speaker 1: welcome back. You're listening to the Markma Show. And we 552 00:27:34,840 --> 00:27:40,160 Speaker 1: are talking about bitcoin, of course, every single week, cryptocurrencies, 553 00:27:40,520 --> 00:27:44,479 Speaker 1: decentralized revolution, all those good things. I am breaking down 554 00:27:44,800 --> 00:27:48,399 Speaker 1: the fud, the fear, uncertainty, and doubt. That's what we 555 00:27:48,440 --> 00:27:50,960 Speaker 1: call in the space. Anytime somebody says, yeah, but but 556 00:27:50,960 --> 00:27:53,439 Speaker 1: but but this this bad thing um that we call 557 00:27:53,480 --> 00:27:58,480 Speaker 1: that food. They're casting shade. They're throwing shade, throwing fear, uncertainty, 558 00:27:58,480 --> 00:28:00,600 Speaker 1: and doubt. And I'm breaking those down for one by one. 559 00:28:00,840 --> 00:28:03,320 Speaker 1: Even if you don't believe these, still want to hear 560 00:28:03,400 --> 00:28:06,240 Speaker 1: them because maybe that can help you answer somebody else 561 00:28:06,359 --> 00:28:09,200 Speaker 1: that does. So what else we got here? We went 562 00:28:09,240 --> 00:28:12,080 Speaker 1: through backed by nothing, no intrinsic value, no way to 563 00:28:12,160 --> 00:28:16,960 Speaker 1: value it. Environmental concerns, waste of electricity, um black market, 564 00:28:16,960 --> 00:28:21,280 Speaker 1: criminal activity to volatile, too risky, missed the boat. Um, 565 00:28:21,280 --> 00:28:23,960 Speaker 1: those are the ones we've broken down so far. Oh, 566 00:28:24,000 --> 00:28:25,920 Speaker 1: I'm gonna wait for the dip. I love this one. 567 00:28:26,000 --> 00:28:27,840 Speaker 1: That's one of my favorites. I'm gonna wait for the dip. 568 00:28:28,359 --> 00:28:31,080 Speaker 1: What's funny is uh? You know I've been teaching on bitcoin, 569 00:28:31,119 --> 00:28:34,280 Speaker 1: talking to bitcoin for about seven years now. When I 570 00:28:34,320 --> 00:28:37,280 Speaker 1: first started talking about this, I didn't, Uh, I didn't. 571 00:28:37,320 --> 00:28:39,000 Speaker 1: I didn't really talk to many of my friends, some 572 00:28:39,000 --> 00:28:41,960 Speaker 1: of my friends that were into investing. Um, you know. 573 00:28:42,080 --> 00:28:44,760 Speaker 1: I didn't go public and like put out a Facebook 574 00:28:44,760 --> 00:28:46,960 Speaker 1: announcement to everybody I knew, like, hey, I'm a bitcoin 575 00:28:47,000 --> 00:28:50,120 Speaker 1: guy now. Um. But over a period of time, people 576 00:28:50,160 --> 00:28:53,560 Speaker 1: have found me, you know, and uh never fails. Whenever 577 00:28:53,560 --> 00:28:56,680 Speaker 1: bitcoin's hitting they knew all time high. I start hearing 578 00:28:56,680 --> 00:28:58,280 Speaker 1: from people I haven't heard from in years and years 579 00:28:58,320 --> 00:29:02,600 Speaker 1: and years. Uh and uh. The question I always get 580 00:29:02,600 --> 00:29:04,680 Speaker 1: asked is should I buy now? Or should I wait? 581 00:29:06,800 --> 00:29:08,960 Speaker 1: They always ask at the all time high, I don't 582 00:29:08,960 --> 00:29:10,120 Speaker 1: know if I should I don't know if I should 583 00:29:10,120 --> 00:29:11,560 Speaker 1: buy now, if I should if I should wait? I 584 00:29:11,560 --> 00:29:13,480 Speaker 1: should wait for the dip, right, I should wait for 585 00:29:13,520 --> 00:29:16,360 Speaker 1: the dip. But then we have a dip like we're 586 00:29:16,400 --> 00:29:19,000 Speaker 1: in right now, and then nobody wants to buy. So 587 00:29:19,120 --> 00:29:21,000 Speaker 1: the question that I said, They asked me, should I 588 00:29:21,000 --> 00:29:22,480 Speaker 1: buy now and stop away for a dip? Well? Will 589 00:29:22,600 --> 00:29:24,520 Speaker 1: will it have another dip? They ask I said, yes, 590 00:29:25,920 --> 00:29:28,400 Speaker 1: I guarantee you it's gonna have another dip. When when when? 591 00:29:28,480 --> 00:29:31,120 Speaker 1: Well I don't know the answer to that question, and 592 00:29:31,160 --> 00:29:34,240 Speaker 1: nobody does, right, nobody, nobody has a crystal ball. The 593 00:29:34,240 --> 00:29:37,120 Speaker 1: best technical analysis in the world are just guessing right 594 00:29:37,320 --> 00:29:40,680 Speaker 1: based off of probabilities, and so, um, should you wait 595 00:29:40,720 --> 00:29:42,920 Speaker 1: for a dip? Yeah, sure, wait for a dip, But 596 00:29:42,920 --> 00:29:44,240 Speaker 1: how do you know when that dip is gonna be? 597 00:29:44,280 --> 00:29:46,400 Speaker 1: How deep you know that that dip is gonna be? Um? 598 00:29:46,440 --> 00:29:47,880 Speaker 1: You know, how how will you know when to buy? 599 00:29:47,920 --> 00:29:52,160 Speaker 1: So for example, um, you know Bitcoin reached almost six thousand. 600 00:29:52,200 --> 00:29:55,520 Speaker 1: It's probably in the arrange as we speak right now. 601 00:29:56,000 --> 00:29:58,640 Speaker 1: Should you buy an hour? Is it gonna go further down? Well? 602 00:29:58,640 --> 00:30:03,680 Speaker 1: I don't know. Um, maybe it goes further down, or 603 00:30:03,720 --> 00:30:05,840 Speaker 1: maybe it goes up. This eighty thousand and dips all 604 00:30:05,840 --> 00:30:07,520 Speaker 1: the way back to sixty. But it's higher than where 605 00:30:07,560 --> 00:30:10,040 Speaker 1: you could buy it right now today, And so you 606 00:30:10,040 --> 00:30:12,240 Speaker 1: don't know, so um, what I would say is that 607 00:30:12,760 --> 00:30:15,120 Speaker 1: you focus on where it's going to go. Right, I 608 00:30:15,120 --> 00:30:17,320 Speaker 1: think it's me worth five hundred thousand dollars in five years, 609 00:30:17,520 --> 00:30:19,720 Speaker 1: whether I buy it at fifty thousand or fifty five thousand, 610 00:30:19,800 --> 00:30:22,600 Speaker 1: what difference does it make. That's that's one. Now. If 611 00:30:22,640 --> 00:30:25,560 Speaker 1: you are hung up on this, then what I would 612 00:30:25,600 --> 00:30:28,080 Speaker 1: say is that you could do something what we call 613 00:30:28,240 --> 00:30:31,520 Speaker 1: d c A or dollar cost averaging. That means that 614 00:30:31,560 --> 00:30:34,040 Speaker 1: you buy a little bit over time. So instead of 615 00:30:34,040 --> 00:30:36,320 Speaker 1: a lump sum, instead of sticking all your money into 616 00:30:36,320 --> 00:30:38,440 Speaker 1: bitcoin right now, a lump sum purchase, you can break 617 00:30:38,440 --> 00:30:40,000 Speaker 1: it up. So if you want to put a thousand 618 00:30:40,040 --> 00:30:42,320 Speaker 1: dollars in, instead of putting all thousand dollars in, you 619 00:30:42,360 --> 00:30:44,360 Speaker 1: may decide to put a hundred dollars in this week, 620 00:30:45,280 --> 00:30:47,280 Speaker 1: a hundred dollars next week, hundred dollars in the next week, 621 00:30:47,320 --> 00:30:49,520 Speaker 1: and hundred dollars for ten weeks in a row. Something 622 00:30:49,560 --> 00:30:51,800 Speaker 1: like that. You could do it every two weeks, every month, 623 00:30:51,880 --> 00:30:53,800 Speaker 1: whatever you want to do. I mean that way, you 624 00:30:53,840 --> 00:30:55,280 Speaker 1: can buy. You know, if it goes down, you buy 625 00:30:55,320 --> 00:30:56,959 Speaker 1: a little bit lower. If it goes up, you buy 626 00:30:57,000 --> 00:30:59,280 Speaker 1: a little bit higher. So the good thing is if 627 00:30:59,280 --> 00:31:02,240 Speaker 1: it keeps buying, it keeps going down, you're averaging your 628 00:31:02,280 --> 00:31:05,280 Speaker 1: cost down. The risk is that it keeps going up 629 00:31:05,520 --> 00:31:08,720 Speaker 1: and then you average cost up. But some people would 630 00:31:08,720 --> 00:31:11,440 Speaker 1: trade off that risk for that reward and that's up 631 00:31:11,440 --> 00:31:14,480 Speaker 1: to you. UM, So that's it. If it keeps going down, 632 00:31:14,560 --> 00:31:16,200 Speaker 1: if if what if it dips, Well we're in a 633 00:31:16,240 --> 00:31:19,200 Speaker 1: dip right now, so now it's time to buy. But 634 00:31:19,240 --> 00:31:21,040 Speaker 1: this is not financial advice. By the way, you listening 635 00:31:21,000 --> 00:31:22,760 Speaker 1: to the marketmus show, we're talking about bitcoin. I'm not 636 00:31:22,760 --> 00:31:24,600 Speaker 1: giving you a financial advice. I'm just trying to give 637 00:31:24,600 --> 00:31:26,640 Speaker 1: you the education that you need so you can understand 638 00:31:26,680 --> 00:31:31,040 Speaker 1: exactly what is going on. All right. And then one 639 00:31:31,040 --> 00:31:33,200 Speaker 1: more that we're kind of talking about on price here 640 00:31:33,360 --> 00:31:37,440 Speaker 1: is that it's too expensive. It's too expensive. What about 641 00:31:37,480 --> 00:31:42,080 Speaker 1: all the other coins? There's like, uh, fifteen thousand other cryptocurrencies. 642 00:31:42,160 --> 00:31:45,560 Speaker 1: I missed out on bitcoin, So I'm going to catch 643 00:31:45,640 --> 00:31:49,680 Speaker 1: the next the next bitcoin. What does that even mean? 644 00:31:49,760 --> 00:31:53,920 Speaker 1: The next bitcoin? So what I think people probably mean. 645 00:31:54,080 --> 00:31:56,440 Speaker 1: What I think people are probably trying to say by 646 00:31:56,520 --> 00:32:01,080 Speaker 1: saying that is not um. They want to get the 647 00:32:01,160 --> 00:32:06,040 Speaker 1: next coin when it's cheap, before it goes up. Because 648 00:32:06,080 --> 00:32:08,520 Speaker 1: there is no next bitcoin. When I talk about next bitcoin, 649 00:32:08,560 --> 00:32:13,040 Speaker 1: I'm talking about the cryptocurrency that has the properties that 650 00:32:13,080 --> 00:32:21,760 Speaker 1: Bitcoin has permissionless, borderless, person less, decentralized, censorship resistant, immutable. 651 00:32:22,160 --> 00:32:24,920 Speaker 1: Out of the other fifteen thousand cryptocurrencies, there's not one 652 00:32:25,840 --> 00:32:28,480 Speaker 1: that has those properties. Now, like gold, going back to 653 00:32:28,520 --> 00:32:33,400 Speaker 1: Peter Shift and gold, Um, there's no other metal that 654 00:32:33,440 --> 00:32:36,240 Speaker 1: has the same properties as gold does. So there's lots 655 00:32:36,240 --> 00:32:40,440 Speaker 1: of other metals, right, chrome, alley and steel and aluminum 656 00:32:40,600 --> 00:32:44,240 Speaker 1: and copper and whatever. Right, I'm not a geologist, but 657 00:32:44,760 --> 00:32:47,160 Speaker 1: my point is is that none of them have the 658 00:32:47,200 --> 00:32:50,480 Speaker 1: same attributes that gold does. So there is no next gold. 659 00:32:50,920 --> 00:32:53,480 Speaker 1: There's only one, and there is no next bitcoin. There's 660 00:32:53,520 --> 00:32:57,840 Speaker 1: only one. So um, what about all those other coins? Um, well, 661 00:32:57,920 --> 00:32:59,880 Speaker 1: none of them have the same properties The next bitcoin 662 00:32:59,920 --> 00:33:02,840 Speaker 1: is bitcoin. But I think what you're trying to say is, um, 663 00:33:02,880 --> 00:33:04,920 Speaker 1: I want to find um something that can go up 664 00:33:04,960 --> 00:33:07,400 Speaker 1: as much as Bitcoin could go up. I think that's 665 00:33:07,440 --> 00:33:09,720 Speaker 1: what they're saying now. I think there there's also something 666 00:33:09,720 --> 00:33:12,760 Speaker 1: they're being confused by, what we call unit bias, And 667 00:33:12,760 --> 00:33:15,040 Speaker 1: so what do I mean by that? I can't afford 668 00:33:15,280 --> 00:33:18,840 Speaker 1: to buy a fifty thou dollar bitcoin, But I can 669 00:33:18,880 --> 00:33:22,720 Speaker 1: afford a one dollar dog coin, right, so I'll just 670 00:33:22,760 --> 00:33:25,400 Speaker 1: buy the dollar dog cooin. But what you may not 671 00:33:25,600 --> 00:33:29,240 Speaker 1: know is that you can actually buy one dollar worth 672 00:33:29,360 --> 00:33:32,280 Speaker 1: of bitcoin. So really what you're looking at is you're 673 00:33:32,280 --> 00:33:36,720 Speaker 1: looking at the percentage increase adjusted. For risk investors, we 674 00:33:36,720 --> 00:33:38,440 Speaker 1: always want to manage for risk. Now, what most people 675 00:33:38,480 --> 00:33:41,720 Speaker 1: think about is how much can I make? What is 676 00:33:41,760 --> 00:33:47,200 Speaker 1: my upside? Right, But real investors, professional investors, think about 677 00:33:47,280 --> 00:33:52,360 Speaker 1: the downside, what is my risk? And so we always 678 00:33:52,360 --> 00:33:55,160 Speaker 1: want to think about things in terms of risk adjusted returns, 679 00:33:55,200 --> 00:34:01,120 Speaker 1: and so what is my return potential on bitcoin or dogcoin? Well, 680 00:34:01,400 --> 00:34:05,200 Speaker 1: dog coin could potentially go up by more, but it 681 00:34:05,240 --> 00:34:08,680 Speaker 1: could also potentially go down by more. Bitcoin could go 682 00:34:08,800 --> 00:34:11,160 Speaker 1: up maybe less, but it's going to go down less. 683 00:34:11,160 --> 00:34:13,919 Speaker 1: And so on a risk adjusted basis, I could put 684 00:34:13,960 --> 00:34:16,239 Speaker 1: more into bitcoin, if that makes sense, And so think 685 00:34:16,280 --> 00:34:19,040 Speaker 1: about it, not in the unit bias of I need 686 00:34:19,080 --> 00:34:21,879 Speaker 1: to put a dollar in or this coin x y coin, 687 00:34:22,040 --> 00:34:25,560 Speaker 1: x y z cooin is cheaper, um, think about it 688 00:34:25,719 --> 00:34:28,000 Speaker 1: because you can buy fifty cents worth a bitcoin too. 689 00:34:28,719 --> 00:34:32,279 Speaker 1: I think you can buy ten cents worth a bitcoin, um, 690 00:34:32,320 --> 00:34:34,160 Speaker 1: So it's not about that the amount or how much 691 00:34:34,160 --> 00:34:37,600 Speaker 1: it costs. Uh, it's the risk adjusted return that you 692 00:34:37,640 --> 00:34:40,800 Speaker 1: can get, and I think bitcoin beats all of those 693 00:34:40,960 --> 00:34:44,319 Speaker 1: on the standpoint. Uh, we got time for one more. 694 00:34:44,360 --> 00:34:48,920 Speaker 1: Let's see. Oh but but but but but but it 695 00:34:48,960 --> 00:34:54,160 Speaker 1: could be hacked. It could be hacked. Well, hypothetically speaking, 696 00:34:54,360 --> 00:34:56,759 Speaker 1: it could be hypothetically speaking, aliens could come to the 697 00:34:56,760 --> 00:35:00,680 Speaker 1: world tomorrow and destroy it. Hypothetically speak, lots of things 698 00:35:00,680 --> 00:35:05,880 Speaker 1: could happen. But realistically, um, every computer network in the 699 00:35:05,920 --> 00:35:07,960 Speaker 1: world has pretty much been hacked. Experience was hacked, the 700 00:35:08,000 --> 00:35:10,719 Speaker 1: largest data data breach in history. The CIA has been acted. 701 00:35:10,719 --> 00:35:13,960 Speaker 1: The n s A, the National Security Administration in essay, 702 00:35:14,040 --> 00:35:16,080 Speaker 1: was hacked. And when they hacked the NSA, they stole 703 00:35:16,080 --> 00:35:19,280 Speaker 1: the NSA's hacking software, which is why we have ransomware 704 00:35:19,280 --> 00:35:21,640 Speaker 1: attacks all the time. Today's Bitcoin's fault, It's NSA's fault. 705 00:35:21,840 --> 00:35:24,320 Speaker 1: They were hacked. They couldn't even keep their computer network secure. 706 00:35:24,600 --> 00:35:26,560 Speaker 1: And they have a full time I T staff and 707 00:35:26,560 --> 00:35:28,759 Speaker 1: cybersecurity and blah blah blah blah blah trying to keep 708 00:35:28,760 --> 00:35:30,760 Speaker 1: their network scure and they couldn't even keep that secure. 709 00:35:30,880 --> 00:35:33,040 Speaker 1: They were hacked. Every computer network has been hacked, but 710 00:35:33,080 --> 00:35:37,720 Speaker 1: Bitcoin it's open, open source. Everyone can see the code, 711 00:35:38,120 --> 00:35:41,400 Speaker 1: anyone can build on the code. There's no I T Department, 712 00:35:41,440 --> 00:35:44,319 Speaker 1: no security, there's no building, no no nothing. It's open, 713 00:35:44,520 --> 00:35:49,720 Speaker 1: open source. There's a trillion dollars in the open sitting 714 00:35:49,760 --> 00:35:52,319 Speaker 1: there ready for anyone to come take, come get it. 715 00:35:52,440 --> 00:35:57,359 Speaker 1: No security, never been hacked. Bitcoin is a lot of things. 716 00:35:57,440 --> 00:35:59,200 Speaker 1: Bitcoin is a lot of things. That takes a lot 717 00:35:59,239 --> 00:36:01,759 Speaker 1: of probably six eight different disciplines to even try to 718 00:36:01,800 --> 00:36:04,040 Speaker 1: understand what bitcoin is. But the one thing that we 719 00:36:04,040 --> 00:36:07,960 Speaker 1: know bitcoin is for sure is the most secure computer 720 00:36:08,040 --> 00:36:12,000 Speaker 1: network in the history of the world. So, uh, could 721 00:36:12,000 --> 00:36:16,680 Speaker 1: it be hacked? Maybe theoretically, potentially, theoretically aliens come to 722 00:36:16,680 --> 00:36:20,680 Speaker 1: the world to war to right. Realistically, can't be hacked. 723 00:36:20,800 --> 00:36:23,600 Speaker 1: It's never been hacked. Every other computer network has been hacked, 724 00:36:24,000 --> 00:36:29,399 Speaker 1: and it's because of the technological breakthrough that bitcoin has 725 00:36:29,520 --> 00:36:32,719 Speaker 1: come up with with this decentralized network. It's kind of 726 00:36:32,760 --> 00:36:34,640 Speaker 1: like if I put a billion dollars into a bank, 727 00:36:34,719 --> 00:36:36,879 Speaker 1: that's a big honeypot. People are gonna try to spend 728 00:36:36,880 --> 00:36:38,640 Speaker 1: a lot of money to break into that billion dollar bank. 729 00:36:38,760 --> 00:36:40,600 Speaker 1: But what if I had a billion banks with one 730 00:36:40,920 --> 00:36:44,239 Speaker 1: dollar each wouldn't be worth anyone's time. That's basically what 731 00:36:44,239 --> 00:36:46,799 Speaker 1: bitcoin is done. Um, you're listening to the Mark Moa show. 732 00:36:46,840 --> 00:36:49,319 Speaker 1: We're talking about bitcoin, of course if you're just tuning in, 733 00:36:49,520 --> 00:36:51,920 Speaker 1: talking about the decentralized network. And I was spent the 734 00:36:52,080 --> 00:36:54,200 Speaker 1: last hour with you breaking down some of the top 735 00:36:54,320 --> 00:36:57,480 Speaker 1: FUD headlines. Thanks so much for listening.