WEBVTT - The Game Theory 0:00:00.240 --> 0:00:02.840 Hello, and welcome to another episode of The Mark Moss Show, 0:00:02.840 --> 0:00:05.840 where we talk about the decentralized revolution. Of course, each 0:00:05.880 --> 0:00:07.960 and every week, talking about the way the world is 0:00:08.039 --> 0:00:11.520 changing through the lens of politics, finance, and technology. Now, 0:00:11.840 --> 0:00:14.200 I try to bring to you some of the latest 0:00:14.280 --> 0:00:16.799 breaking news headlines every single week, and that's what we 0:00:16.840 --> 0:00:18.880 are going to talk about right now. There has been 0:00:18.920 --> 0:00:21.239 a lot going on now. Like I said, I like 0:00:21.280 --> 0:00:24.960 to focus on politics, finance, and technology, but only the 0:00:25.040 --> 0:00:27.200 intersection of those three things. We don't try to talk 0:00:27.200 --> 0:00:29.000 about those things on their own. We want to give 0:00:29.040 --> 0:00:31.720 you the context you need now. Of course, as I 0:00:31.760 --> 0:00:34.960 talk about each and every week, it's technology that changes 0:00:35.000 --> 0:00:37.559 things more than anything. Technology is what changes the way 0:00:37.600 --> 0:00:40.680 the world works. And so the technology that's driving change 0:00:40.760 --> 0:00:45.360 right now is Bitcoin. Is the decentralized technologists bringing us 0:00:45.360 --> 0:00:48.360 this decentralized revolution I talk about each and every week, 0:00:48.400 --> 0:00:50.839 and you know when I talk about bitcoin and the 0:00:50.960 --> 0:00:54.120 new technology that's that's building off of that, you know, 0:00:54.440 --> 0:00:57.760 I don't typically talk about the price of bitcoin as 0:00:57.800 --> 0:00:59.880 I talk about a lot. I think that the price 0:01:00.120 --> 0:01:04.000 is a distraction when you're looking at brand new technologies. 0:01:04.240 --> 0:01:05.640 You don't want to look at the price. You want 0:01:05.640 --> 0:01:08.399 to look at either will both. You want to look 0:01:08.400 --> 0:01:11.480 at the growth of the network. You're looking for network effects. 0:01:12.160 --> 0:01:13.959 You're looking for the growth of the network, and you're 0:01:13.959 --> 0:01:16.960 looking for development on the network. Those are two things 0:01:17.000 --> 0:01:19.640 that you want to see and we are seeing that 0:01:19.840 --> 0:01:22.400 in a really big way. In a couple of ways 0:01:22.400 --> 0:01:24.839 that you can measure this. I mean, obviously we're looking 0:01:24.840 --> 0:01:26.920 at users the growth of the network. Can that be 0:01:26.920 --> 0:01:29.520 the amount of users, so it's the amount of wallets 0:01:29.520 --> 0:01:32.400 that we have, but it's also the amount of stores 0:01:32.520 --> 0:01:35.080 or companies or merchants that accept it. But we also 0:01:35.120 --> 0:01:38.280 look at the network itself, which is the mining capacity 0:01:38.360 --> 0:01:41.720 of the network. How many computers are plugged into the network, 0:01:42.160 --> 0:01:46.040 are helping process transactions, helping to secure the network, and 0:01:46.080 --> 0:01:49.160 we can see that it has hit a brand new 0:01:49.240 --> 0:01:52.720 all time high. As a matter of fact, you measure 0:01:52.760 --> 0:01:54.400 it so in a computer, you would measure it by 0:01:54.400 --> 0:01:56.360 the hash rate. That's the power of the computer. And 0:01:56.400 --> 0:01:58.840 you can look at the total amount of hash rate 0:01:59.160 --> 0:02:02.520 being put into the Bitcoin network, and we just passed 0:02:02.960 --> 0:02:06.120 three hundred equa hash. Now I'm not going to break 0:02:06.120 --> 0:02:07.680 down what that really means, but just know it's a 0:02:07.680 --> 0:02:11.680 really big number. But more importantly, it took only about 0:02:11.840 --> 0:02:15.800 one year for the bitcoin mining hash rate to gain 0:02:16.120 --> 0:02:19.720 one hundred equahsh so to go from two to three hundred, 0:02:19.800 --> 0:02:24.520 so over a thirty percent increase in the size of 0:02:24.560 --> 0:02:28.680 the network in just a year. It's a pretty big deal, 0:02:28.840 --> 0:02:33.080 really really big deal. Now we can see that part 0:02:33.080 --> 0:02:36.600 of that was I think really led by China getting 0:02:36.680 --> 0:02:37.640 rid of a lot of the mind, and a lot 0:02:37.639 --> 0:02:41.120 of it was the price of bitcoin had gone up 0:02:41.120 --> 0:02:43.359 so much that a lot of companies took out big loans. 0:02:43.680 --> 0:02:47.919 But either way, right now we are seeing the network 0:02:47.960 --> 0:02:51.200 itself getting to new levels that we haven't seen before, 0:02:51.320 --> 0:02:53.359 which is pretty cool. And we can see that it's 0:02:53.400 --> 0:02:57.120 also growing in terms of its reach, of the amount 0:02:57.160 --> 0:03:00.200 of people using it and even like I said, ors 0:03:00.200 --> 0:03:02.880 and merchants and even countries. Now we've talked a lot 0:03:02.880 --> 0:03:07.000 about El Salvador being the first nation to make bitcoin 0:03:07.120 --> 0:03:11.240 legal tender, which I think is a little bit I 0:03:11.280 --> 0:03:12.799 mean like kind of like who cares like they made 0:03:12.800 --> 0:03:14.320 it legal tender. That's cool. I mean, I'm glad they 0:03:14.360 --> 0:03:15.760 did that. It brings a lot of attention to it. 0:03:16.360 --> 0:03:20.400 But anybody can accept bitcoin if they want it doesn't 0:03:20.440 --> 0:03:22.959 have to be recognized as legal tender for it to 0:03:23.000 --> 0:03:24.600 be used here in the United States. I hear it's 0:03:24.639 --> 0:03:26.399 people talking about we need to make it legal tender 0:03:26.400 --> 0:03:28.320 in the US. It's like, no, we don't. Like anybody, 0:03:28.440 --> 0:03:30.600 any store or any service provider could just accept bitcoin 0:03:30.639 --> 0:03:32.440 if they want right now, we don't need to do that. 0:03:32.520 --> 0:03:38.760 But El Salvador did, and it's worked out pretty well 0:03:38.760 --> 0:03:40.480 for them. Now. A lot of people say it won't 0:03:40.520 --> 0:03:43.000 because the price of the bitcoin isn't as high as 0:03:43.000 --> 0:03:45.400 when they first bought it, but it's brought them lots 0:03:45.400 --> 0:03:50.360 of other benefits, including it's brought them massive amounts of tourism, 0:03:50.400 --> 0:03:54.720 massive amounts of investment, which more than makeup for any 0:03:54.720 --> 0:03:56.720 potential loss they might have had in some of the 0:03:56.760 --> 0:03:59.200 bitcoin they bought. But what we can also see is 0:03:59.240 --> 0:04:01.760 that while this is happening, and while it's in starting 0:04:01.760 --> 0:04:04.840 to influence other nations to do the same, remember growth 0:04:04.880 --> 0:04:07.080 of the network, other nations are starting to do this. 0:04:07.600 --> 0:04:11.000 The IMF, the International Monetary Fund, the Central Bank above 0:04:11.040 --> 0:04:13.960 all the central banks does not like this. A matter 0:04:14.000 --> 0:04:18.120 of fact, they've been threatening El Savador many times. We're 0:04:18.120 --> 0:04:19.920 not going to give you any more money. We won't 0:04:19.920 --> 0:04:22.480 give any more loans. We won't bill you out unless 0:04:22.560 --> 0:04:27.040 you drop bitcoin. Now we're seeing someone saying the IMF 0:04:27.800 --> 0:04:32.560 they're trying to scare other countries away from adopting bitcoin 0:04:32.960 --> 0:04:39.599 as legal tender. Ever since El Salvador established that legal framework, 0:04:39.839 --> 0:04:42.800 the IMF has been trying to attack it and shut 0:04:42.800 --> 0:04:44.960 it down. They don't want other countries to do this. 0:04:45.240 --> 0:04:47.840 But it doesn't matter. It is growing, and as a 0:04:47.880 --> 0:04:51.160 matter of fact, El Salvadore just grew into the United States. 0:04:51.160 --> 0:04:55.800 Interesting enough, they're planning to open in embassy in Texas. 0:04:55.880 --> 0:05:01.320 Not just an embassy, though, a bitcoin embassy. The central 0:05:01.360 --> 0:05:04.520 American country. Elsvadare wishes to open a bitcoin embassy in 0:05:04.560 --> 0:05:07.680 the new ally of Texas, and this will aid the 0:05:07.720 --> 0:05:12.040 expansion and commercial of economic exchange projects. Now Texas has 0:05:12.040 --> 0:05:15.960 sort of become the bitcoin capital of the United States, 0:05:16.000 --> 0:05:19.520 maybe even the bitcoin capital of the world. Partly because 0:05:20.600 --> 0:05:23.599 Texas is probably one of the most if not the 0:05:23.720 --> 0:05:27.920 most pro freedom states in the United States, but also 0:05:28.000 --> 0:05:30.080 because of the massive amounts of energy that they have, 0:05:30.600 --> 0:05:33.960 and so bitcoin needs energy. It needs the miners need 0:05:34.000 --> 0:05:37.240 the power to run off of and so bitcoin has 0:05:37.320 --> 0:05:40.440 really found its home there in Texas, so it kind 0:05:40.440 --> 0:05:43.560 of makes sense that they would want to set up 0:05:43.600 --> 0:05:45.760 an embassy in Texas. Now they're not just doing it 0:05:45.800 --> 0:05:48.039 in Texas. As a matter of fact, El Sovada are 0:05:48.120 --> 0:05:52.240 also agreed to open a similar embassy in Lugano, Switzerland 0:05:52.320 --> 0:05:55.680 in October, with the aim of encouraging adoption of bitcoin 0:05:55.839 --> 0:05:59.960 across Europe. You know, it's sort of we have to 0:06:00.120 --> 0:06:03.000 kind of think about the game theory and how this 0:06:03.120 --> 0:06:06.480 plays out, right, and so like any new technology, you 0:06:06.560 --> 0:06:12.000 have the first mover advantage, we'll just say, and El 0:06:12.080 --> 0:06:14.680 Salvador certainly leading on that, and of course then what 0:06:14.960 --> 0:06:17.080 will be the next country to adopt it? And that's 0:06:17.120 --> 0:06:19.119 the race that we're seeing right now. In another big news, 0:06:19.320 --> 0:06:21.400 remember we're looking at the growth of the network. We're 0:06:21.440 --> 0:06:25.760 also looking for development on the network. And another big 0:06:25.760 --> 0:06:27.760 piece of development to happen on the network with this 0:06:27.800 --> 0:06:32.440 week we got Bitcoin Ordinals, which brought NFTs. Now, if 0:06:32.480 --> 0:06:34.560 you love NFTs, like I know a lot of you do, 0:06:35.000 --> 0:06:39.200 now there's NFTs happening on the bitcoin blockchain. This is real. 0:06:39.640 --> 0:06:43.640 It's done through what's called inscriptions, and so some updates, 0:06:43.760 --> 0:06:46.719 some upgrades on the Bitcoin network have allowed people to 0:06:46.800 --> 0:06:51.080 now put this code into there, and right now they're 0:06:51.080 --> 0:06:55.719 putting JPEGs, they're putting NFT transactions into this. Minors have 0:06:55.760 --> 0:06:59.200 earned nearly six hundred thousand and two months from these 0:06:59.400 --> 0:07:01.680 NFT objects, these ordinals that have been on there. And 0:07:01.720 --> 0:07:03.440 so a lot of people would say, well, what happens 0:07:03.440 --> 0:07:05.960 to the bitcoin miners when there's no more bitcoin to 0:07:06.040 --> 0:07:09.840 be mined? And the answer is always well, transaction fees. 0:07:09.920 --> 0:07:13.240 So bitcoin miners earn from transaction fees and from receiving 0:07:13.280 --> 0:07:15.760 new mind coins. If there's no mind coins, then they 0:07:15.760 --> 0:07:17.800 get transaction fees. And a lot of people say, well, 0:07:17.840 --> 0:07:20.280 will that be enough? Well, we don't know. We'll find 0:07:20.280 --> 0:07:22.960 out in a hundred years, but will that be enough? Well, 0:07:23.160 --> 0:07:25.720 now we see that this is another really big source 0:07:25.760 --> 0:07:29.640 of revenue for these bitcoin miners. Now there's a lot 0:07:29.680 --> 0:07:32.080 of controversy about this. Do we really need JPEGs and 0:07:32.160 --> 0:07:35.720 NFTs on the bitcoin blockchain? The answer is, we don't know. 0:07:36.560 --> 0:07:38.480 My opinion is right now sort of like a wait 0:07:38.520 --> 0:07:41.480 and see, let's see what happens. I think the free 0:07:41.560 --> 0:07:44.800 market will figure this out. Whatever seems to be the 0:07:44.880 --> 0:07:47.960 highest and best use case, whatever seems to have the 0:07:48.040 --> 0:07:52.880 best monetary incentives will probably win. But think beyond what 0:07:52.920 --> 0:07:55.240 this means for just NFTs and JPEGs. I mean, I 0:07:55.280 --> 0:07:56.960 don't think JPEGs need to be on there, But what 0:07:57.040 --> 0:07:59.880 about other types of things like, for example, three D 0:08:00.120 --> 0:08:04.760 printed guns schematics. Right, so, as of course every nation 0:08:04.800 --> 0:08:06.520 wants to get rid of guns so they can put 0:08:06.520 --> 0:08:09.160 their people into oppression. Most of the world doesn't have them, 0:08:09.400 --> 0:08:12.520 and now we can print them with three D printers 0:08:12.520 --> 0:08:14.040 and all you gotta do is download the code. But 0:08:14.080 --> 0:08:15.440 of course they don't want you to have the code. 0:08:15.480 --> 0:08:17.320 They're trying to delete that everywhere. And if I could 0:08:17.360 --> 0:08:20.640 store that three D printed guns schematic, that code into 0:08:20.760 --> 0:08:25.960 the Bitcoin blockchain, the only censorship resistant and immutable blockchain, 0:08:26.360 --> 0:08:30.280 what could that do for the power balance of humanity? 0:08:31.800 --> 0:08:34.440 I think it'd be pretty big. Now, that's just one example. 0:08:34.520 --> 0:08:36.880 We don't know. Humans are no good at imagine in 0:08:36.880 --> 0:08:39.679 the future, so we don't know really where this takes us. 0:08:39.840 --> 0:08:42.199 What we do know is this is a new building block. 0:08:42.360 --> 0:08:44.720 What we do know is we're finding new ways to 0:08:44.840 --> 0:08:49.640 develop on the Bitcoin blockchain, including ordinals, and so this 0:08:49.720 --> 0:08:52.600 is exciting. This is just the beginning. But what do 0:08:52.640 --> 0:08:55.319 you think hit me up on social media at one 0:08:55.400 --> 0:08:57.280 Mark Moss let me know what you think. I'd love 0:08:57.320 --> 0:08:59.680 to hear what you think about ordinals, NFTs on the 0:08:59.679 --> 0:09:02.800 block chain, or what you think could be potentially new 0:09:02.880 --> 0:09:04.600 use cases. If you're just tuning in, you're listening to 0:09:04.679 --> 0:09:07.640 the Mark Moss Show talking about the decentralized Revolution. Each 0:09:07.640 --> 0:09:10.000 and every week. We're running down some of the latest 0:09:10.040 --> 0:09:12.680 breaking news this week, so you're up to date. I 0:09:12.720 --> 0:09:14.360 got a whole lot more to cover when I come back. 0:09:14.440 --> 0:09:15.640 You don't want to miss its it don't go away. 0:09:15.679 --> 0:09:17.679 I'll be right back, all right, Welcome back. If you 0:09:17.760 --> 0:09:20.160 just tune in, you are listening to the Mark Moss Show. 0:09:20.440 --> 0:09:23.240 We're talking about the decentralized Revolution, of course, each and 0:09:23.240 --> 0:09:24.920 every week, just like we always do. If you miss 0:09:24.960 --> 0:09:26.640 any of this, don't worry. I always got your back. 0:09:26.880 --> 0:09:28.760 You can check me out on the podcast. Just search 0:09:29.040 --> 0:09:32.760 the Mark Moss Show on your favorite podcast player, iHeartRadio 0:09:32.920 --> 0:09:36.439 or iTunes wherever you get your podcast app. And if 0:09:36.440 --> 0:09:38.720 you'd like to watch me and listen at the same time, 0:09:38.800 --> 0:09:41.480 you can find me on the YouTube channel. Just search 0:09:41.600 --> 0:09:45.000 Market Disruptors and you'll find all my archives there as well. 0:09:45.000 --> 0:09:46.200 And you can watch me and listen to me at 0:09:46.240 --> 0:09:48.480 the same time, and as always, hit me up on 0:09:48.559 --> 0:09:50.280 social media, man, I want to hear what you have 0:09:50.320 --> 0:09:53.080 to say. I'm at one Mark Moss, find me on Twitter, 0:09:53.120 --> 0:09:56.240 on Instagram, wherever I'm pretty active. So send me a message, 0:09:56.240 --> 0:09:57.920 tell me you're listening to the show, tell me what 0:09:57.960 --> 0:10:00.520 you like, which you don't like, and any requests or 0:10:00.600 --> 0:10:02.240 questions that you have. I'm happy to get those for 0:10:02.320 --> 0:10:06.560 you as well, you know, talking about this decentralized revolution. 0:10:06.640 --> 0:10:08.280 Always sticking on that theme of course, looking at through 0:10:08.280 --> 0:10:10.920 the lens of politics, finance, and technology. I like to 0:10:10.920 --> 0:10:13.360 look at the latest breaking news so we can see 0:10:13.400 --> 0:10:17.240 how this is developing. And one thing that we saw 0:10:17.280 --> 0:10:21.160 this week was a lot of action coming from the SEC, 0:10:21.559 --> 0:10:24.640 the Securities and Exchange Commission in the United States. And 0:10:24.679 --> 0:10:28.040 it's not surprising, not surprising to me. I've talked about 0:10:28.040 --> 0:10:30.439 extensively on this show and on my main YouTube channel, 0:10:30.440 --> 0:10:33.920 Mark Moss, and on lots of other shows, including Fox Business. 0:10:33.920 --> 0:10:37.679 I've talked extensively about how the SEC, Securities Exchange Commission, 0:10:37.720 --> 0:10:40.040 and just the US government overall was going to come 0:10:40.280 --> 0:10:45.640 and really start clamping down on cryptocurrencies. They have to 0:10:45.679 --> 0:10:49.640 do this because they look horrible. In my opinion, the 0:10:49.679 --> 0:10:53.840 SEC should shut down and disgrace their job. There used 0:10:53.840 --> 0:10:55.600 to be that thing was like you had one job. 0:10:55.800 --> 0:10:58.920 The SEC's one job is to protect consumers. That's their job, 0:10:59.040 --> 0:11:01.800 protect consumers. How well have they done? Did they protect 0:11:01.880 --> 0:11:05.320 them from Celsius? Did they protect them from FTX and 0:11:05.400 --> 0:11:07.600 the answers? Of course not. Millions and millions of people 0:11:07.760 --> 0:11:11.120 lost everything, lost their entire life savings. They did nothing 0:11:11.160 --> 0:11:15.200 to protect them. They failed at their one job. They 0:11:15.200 --> 0:11:17.920 should shut down in disgrace and walk away in shame. 0:11:17.960 --> 0:11:20.079 But of course they're not doing that, and instead, now 0:11:20.120 --> 0:11:22.760 they have to come back and try to, you know, 0:11:22.840 --> 0:11:25.120 regain some confidence. And now they're going to come way 0:11:25.120 --> 0:11:28.040 too heavy handed, of course, right of course. And so 0:11:28.080 --> 0:11:30.400 here they are with the heavy hand coming after anything 0:11:30.400 --> 0:11:34.640 and everything that evenly seeming like it has nothing to 0:11:34.800 --> 0:11:39.480 do with securities at all. So what am I talking about? Well, 0:11:39.920 --> 0:11:42.880 the SEC is now slapping lawsuits just left and right. 0:11:43.000 --> 0:11:44.600 You got one, you got one, you got one right 0:11:44.679 --> 0:11:47.640 right right, boom boom boom, and they just they win 0:11:47.760 --> 0:11:51.120 after Kraken and Crack and said, hey, we're not going 0:11:51.160 --> 0:11:52.960 to fight you. Here's thirty million dollars, you know, just 0:11:52.960 --> 0:11:56.520 go away kind of a thing. They came after a 0:11:56.520 --> 0:12:01.000 company called Paksos, which is a stay coin, so meaning 0:12:01.040 --> 0:12:02.280 you give me a dollar, I give you a dollar 0:12:02.320 --> 0:12:04.200 token back, and then you can exchange the token back 0:12:04.240 --> 0:12:06.360 for a dollar whenever you want. There's lots of stable 0:12:06.360 --> 0:12:09.640 coins that are out there, and most people have thought 0:12:09.679 --> 0:12:11.880 this is actually pretty good for the government. It's good 0:12:11.920 --> 0:12:13.400 for the United States, it's good for the FED. It's 0:12:13.440 --> 0:12:17.600 good for the dollar because it makes more people use dollars. So, now, 0:12:17.640 --> 0:12:20.320 if you're in a country like Nigeria, or in Turkey 0:12:20.480 --> 0:12:23.840 or in Argentina, and you're in a currency that's losing 0:12:24.160 --> 0:12:27.280 one hundred percent of its value, losing everything, you need 0:12:27.280 --> 0:12:28.920 to get out of that currency as fast as you can. 0:12:29.320 --> 0:12:33.000 And what you get into, well, you can't get dollars, 0:12:33.280 --> 0:12:34.800 but what you could do is get a US dollar 0:12:34.920 --> 0:12:38.160 stable coin, which is basically the same thing. And so 0:12:38.559 --> 0:12:40.920 it all it does is get more people in the 0:12:40.920 --> 0:12:45.199 world into dollars, now indirectly through a dollar stable coin, 0:12:45.240 --> 0:12:47.320 but doesn't matter either way. It's the same thing. More 0:12:47.360 --> 0:12:50.480 people are using dollars than they were before. That should 0:12:50.480 --> 0:12:54.440 be a good thing. However, the sec one little arm 0:12:54.480 --> 0:12:57.760 of the government is now coming after stable coins. As 0:12:57.760 --> 0:12:59.600 a matter of fact, they sued this company called Paxos, 0:12:59.640 --> 0:13:03.720 which is interesting because Paxos is one of the most 0:13:04.720 --> 0:13:08.080 regulated and licensed companies. So not only are they in 0:13:08.080 --> 0:13:10.439 the United States and regulating license in the US, they're 0:13:10.520 --> 0:13:14.920 also regulating direct under the New York Department of Financial 0:13:14.960 --> 0:13:19.640 Services the nyd f S, which is the most the 0:13:19.840 --> 0:13:23.000 most restrictive, the hardest jurisdiction to get licensed in, and 0:13:23.040 --> 0:13:25.679 their license there, and they're going after them for this 0:13:25.800 --> 0:13:30.000 stable coin, which is interesting because they're saying it's a security, 0:13:30.320 --> 0:13:35.480 but there's no expectation of profit. Like I'm giving you 0:13:35.520 --> 0:13:37.719 a dollar, you're giving me a dollar token. When I 0:13:37.760 --> 0:13:39.840 give you the token back, you give me my dollar back. 0:13:39.880 --> 0:13:41.760 I don't expect you to give me a dollar twenty five. 0:13:42.760 --> 0:13:44.120 So I don't even know how it fits under that. 0:13:44.160 --> 0:13:45.960 I don't really care. I'm not a legal attorney. I'm 0:13:45.960 --> 0:13:47.800 not going to get into that. But what's interesting is 0:13:47.800 --> 0:13:54.320 that one it's taking away the dollars dominance again, right, 0:13:55.880 --> 0:14:00.680 which is strange, And it's interesting because, like I said, 0:14:00.840 --> 0:14:04.439 they should want that to happen, but they're seemingly taken away. 0:14:04.480 --> 0:14:06.880 So at a time we want the dollars to be stronger, 0:14:06.960 --> 0:14:10.559 would want more people to use the dollar. We think 0:14:10.559 --> 0:14:14.760 it would be good. The problem is that now that 0:14:15.120 --> 0:14:18.880 the US government is coming after this so hard. Specifically, 0:14:18.920 --> 0:14:21.000 really the SEC is coming after it, but even the 0:14:21.080 --> 0:14:24.320 US government, the US government is attacking Tether, which is 0:14:24.440 --> 0:14:28.800 the largest stable coin. Seemingly it looks like the government, 0:14:28.960 --> 0:14:32.480 the SEC, etc. Is trying to choose winners, and it 0:14:32.520 --> 0:14:35.040 looks like they've picked the winner which they want circle, 0:14:35.160 --> 0:14:39.000 which is USDC to reign supreme. That's the one they control. 0:14:39.400 --> 0:14:42.280 And anything that's not USDC they want to attack. So 0:14:42.360 --> 0:14:45.560 they're going after Tether. They went after Paxos because of 0:14:45.560 --> 0:14:49.080 the Binance USD, the b USD, so anything is not 0:14:49.080 --> 0:14:51.680 Circle they want to attack. But what's interesting about it 0:14:51.760 --> 0:14:54.160 is that they could be shooting themselves in the foot. 0:14:54.960 --> 0:14:58.000 As a matter of fact, Binance CEO Binance is the 0:14:58.240 --> 0:15:02.600 largest cryptocurrency exchange out there in the world. The CEO 0:15:02.760 --> 0:15:06.960 cz says that the industry, the crypto industry may start 0:15:07.040 --> 0:15:10.480 to use stable coins peg to the Euro, the yen, 0:15:10.880 --> 0:15:16.680 or the Singapore dollar instead of the US dollar. M 0:15:17.960 --> 0:15:20.680 It says it was probably start using these other currencies 0:15:21.360 --> 0:15:25.400 in the future, reducing its reliance on the US dollar 0:15:25.720 --> 0:15:30.520 based stable coins. According to Binan, CEO CZ, they said 0:15:30.560 --> 0:15:33.560 that they could even start using gold as a standard 0:15:33.600 --> 0:15:37.480 of value instead of the US dollar. He says, quote, 0:15:37.720 --> 0:15:40.120 I think that the given the current pressure and current 0:15:40.120 --> 0:15:42.440 stances taken by the regulators and the US dollar based 0:15:42.440 --> 0:15:45.200 stable coins, I think that, as you said, the industry 0:15:45.200 --> 0:15:49.520 will probably move away to non US dollar based stable coins. 0:15:49.560 --> 0:15:52.480 So you would think the US would want the stable 0:15:52.520 --> 0:15:54.520 coins to be used because it puts more of the 0:15:54.560 --> 0:15:56.920 world into the dollar, which is what they want at 0:15:56.960 --> 0:15:59.000 a time when you have Russia and China and the 0:15:59.040 --> 0:16:04.000 bricks nations trying to d dollarize. We're getting the governments 0:16:04.040 --> 0:16:06.760 can d dollarize, but the people could get back into 0:16:06.800 --> 0:16:08.840 dollars when they weren't able to get dollars before and 0:16:08.880 --> 0:16:11.360 now they can because of the stable coins. That is 0:16:11.360 --> 0:16:13.440 what they want. But the problem is is that they're 0:16:13.480 --> 0:16:16.640 so restrictive, they're so heavy handed, they're kicking so many 0:16:16.640 --> 0:16:19.600 people out that these cryptocompanies could just say we'll find 0:16:19.680 --> 0:16:22.440 we won't use the US dollar, now, we'll use the yen, 0:16:22.920 --> 0:16:27.520 will use the euro, we'll use gold something that you 0:16:27.560 --> 0:16:31.640 can't censor us from, and so it's interesting. I guess 0:16:31.920 --> 0:16:34.240 it shouldn't be surprising. It's not surprising to me. That's 0:16:34.240 --> 0:16:37.720 how the government works, and ultimately that's how all of 0:16:37.720 --> 0:16:42.240 this decentralized revolution works. So the more they squeeze to 0:16:42.320 --> 0:16:44.520 try to retain power, the more they try to censor 0:16:44.560 --> 0:16:46.320 us because they don't like what we're saying. The more 0:16:46.320 --> 0:16:49.400 they try to restrict our movement, restrict our movement of money. 0:16:49.680 --> 0:16:51.280 The more they do that, the more we look for 0:16:51.360 --> 0:16:53.960 solutions to get around those restrictions, and the more we 0:16:54.040 --> 0:16:55.760 get around them, the more they squeeze, and the more 0:16:55.760 --> 0:16:57.160 they squeeze, the more we push back, and the more 0:16:57.200 --> 0:16:58.600 we push back, the more they squeeze, and it's this 0:16:58.640 --> 0:17:01.480 never ending cycle. So they're leading their own demise, they're 0:17:01.480 --> 0:17:04.439 doing their own marketing for them, and so at a 0:17:04.480 --> 0:17:06.080 time when you would think they would want more people 0:17:06.160 --> 0:17:09.240 using the dollar and they're trying to protect their own interest, 0:17:09.720 --> 0:17:11.480 what they're probably going to do is shoot themselves in 0:17:11.480 --> 0:17:14.160 the foot and push more people away. Interesting, if you're 0:17:14.160 --> 0:17:15.720 just tuning in and you're listening to the Mark Mos Show, 0:17:15.720 --> 0:17:19.800 we're talking about the decentralized revolution through the lens of course, politics, finance, 0:17:19.840 --> 0:17:23.240 and technology, talking about the latest breaking news headlines this week. 0:17:23.840 --> 0:17:26.119 And we got some big ones, some big, big stories 0:17:26.119 --> 0:17:28.320 coming up that I'm pretty excited to talk about. I'm 0:17:28.359 --> 0:17:30.200 pretty fired up about it. I was fired up talking 0:17:30.240 --> 0:17:32.040 about it before we even started recording, so I got 0:17:32.080 --> 0:17:33.439 a whole lot to cover when I come back. You 0:17:33.480 --> 0:17:35.840 do not want to miss what's coming up next, so 0:17:35.880 --> 0:17:38.280 don't go away. I'm gonna be right back, all right, 0:17:38.320 --> 0:17:40.360 Welcome back. You are listening to the Mark Moss Show. 0:17:40.400 --> 0:17:43.359 We talk about the decentralized revolution and how I'm running 0:17:43.359 --> 0:17:46.280 through the latest breaking news headlines of this week so 0:17:46.359 --> 0:17:49.120 you know what's going on and you can see this 0:17:49.160 --> 0:17:53.359 transition that we're in as we move into this decentralized revolution. Now, 0:17:53.800 --> 0:17:56.480 something I talked about this week on my main YouTube channel, 0:17:56.520 --> 0:17:59.480 just Mark Moss on YouTube, which, by the way, if 0:17:59.520 --> 0:18:01.000 you want to listen to these and watch me at 0:18:01.000 --> 0:18:02.639 the same time, you can watch me on the Market 0:18:02.640 --> 0:18:05.720 Disruptors YouTube channel. But something I was talking about this 0:18:05.800 --> 0:18:10.720 week was this train crash that happened in Ohio. And 0:18:11.119 --> 0:18:12.399 I'm not gonna get in all that. If you want 0:18:12.400 --> 0:18:14.160 to know more about what I think about that train, 0:18:14.560 --> 0:18:17.359 the train derailment in Ohio and the chemical spill and 0:18:17.400 --> 0:18:19.320 all that. I just did a video on my main 0:18:19.320 --> 0:18:22.399 YouTube channel, Go check it out. But um, what I 0:18:22.440 --> 0:18:24.320 talked about the end really seemed to have have struck a 0:18:24.359 --> 0:18:26.440 nerve with a lot of people. And what I talked 0:18:26.440 --> 0:18:29.159 about at the end was I called it the age 0:18:29.160 --> 0:18:32.679 of incompetence. And what happens is at the end of 0:18:32.680 --> 0:18:36.440 an empire, whether it's a typically a tune and fifty 0:18:36.480 --> 0:18:38.760 year lifespan of an empire or a tuna fifty year 0:18:39.200 --> 0:18:43.920 lifespan of a democracy, it goes through six or really 0:18:44.000 --> 0:18:48.879 eight distinct stages from cradle to grave. And we're in 0:18:48.920 --> 0:18:51.240 this last kind of final stage. And I'm calling it 0:18:51.320 --> 0:18:54.160 the age of incompetence. People really like that seemed like anyway, 0:18:54.480 --> 0:18:57.560 And what am I talking about, Well, you know, when 0:18:57.560 --> 0:19:01.760 it comes to Southwest Airlines December having the largest outage, 0:19:01.760 --> 0:19:04.520 having to cancel every single flight, it's never happened before. 0:19:04.720 --> 0:19:08.160 Then the FAA had to shut down every single flight 0:19:08.200 --> 0:19:12.680 in the US because of some software problem. Then it 0:19:12.760 --> 0:19:16.639 happened in I think Canada and Australia. You know, planes 0:19:16.640 --> 0:19:19.040 can't seem to run on time anymore. Trains can't seem 0:19:19.119 --> 0:19:23.439 to run trains or derailing trucks or overturning. You know, 0:19:23.480 --> 0:19:26.919 we have food processing plants seemingly catching on fire, blowing 0:19:26.960 --> 0:19:32.840 up all the time, fuel refineries, and it could be 0:19:33.080 --> 0:19:35.399 an attack. A lot of people think it is a 0:19:35.440 --> 0:19:39.520 lot of people think it's maybe you know, some environmentalists 0:19:39.560 --> 0:19:41.600 or maybe even in our own government doing these type 0:19:41.640 --> 0:19:43.680 of things. Maybe it's another country trying to do these things. 0:19:44.359 --> 0:19:46.560 Maybe it's the open border and the five million people 0:19:46.560 --> 0:19:48.360 that have come across and a few terrorists have come 0:19:48.359 --> 0:19:52.160 across and their sabotaging or critical infrastructure. If you were 0:19:52.200 --> 0:19:55.399 going to do that, you would certainly attack high value 0:19:55.440 --> 0:19:58.280 targets like where the train derailed right now next to 0:19:58.320 --> 0:20:00.320 a river. So it could be that. How however, it 0:20:00.320 --> 0:20:02.719 could also just be because of the age of incompetence. 0:20:02.720 --> 0:20:04.400 And so what do I mean by that? What will 0:20:04.440 --> 0:20:05.760 I mean at the end of an empire? You have 0:20:08.040 --> 0:20:14.680 basically failing infrastructure, those railroads, those locomotives, those the FAA software, 0:20:14.800 --> 0:20:18.240 the fa towers, like that's old. That's sixty seventy eighty 0:20:18.320 --> 0:20:22.520 years old technology. We haven't updated that in a long time. 0:20:22.560 --> 0:20:26.320 The planes they're old. We haven't updated them. And so 0:20:26.520 --> 0:20:28.600 you know, the fuel refiners, some of these fuel refiners 0:20:28.600 --> 0:20:31.240 in the United States are one hundred years old. Like 0:20:31.720 --> 0:20:33.720