Speaker 1: All right, welcome back. You are listening to the Mark
Speaker 1: mo Show, and we are talking about bitcoin and the
Speaker 1: decentralized revolution. I'm talking about a technological revolution that will
Speaker 1: literally change the world, the largest opportunity that the largest
Speaker 1: wealth transfer will ever see, and it will change every
Speaker 1: area of life. Now, we are talking about a lot
Speaker 1: of different things, and I wanted to get into specifically
Speaker 1: on some of the things about perception and education. The
Speaker 1: reason why I want to talk about that specifically is
Speaker 1: because I believe that education is at the bottom of
Speaker 1: almost everything in life. And so the problems with our
Speaker 1: health is we're not educated properly. The problems with our
Speaker 1: money is we're not educated properly. And I'm joined here
Speaker 1: in the studio with my friend Brad, who just recently
Speaker 1: ran a poll and he wanted to find out what
Speaker 1: people thought of the financial system, money, bitcoin, etcetera. What
Speaker 1: the differences were with demographics, ages, education levels and so forth.
Speaker 1: And I was pretty mazed at the findings that were there,
Speaker 1: and I want to go over I'm so Brad, thanks
Speaker 1: so much for joining me today. You're welcome, sir, Thank
Speaker 1: you for inviting me on. Yeah, so um, I thought
Speaker 1: it was just so cool the way that you did it,
Speaker 1: and um, really trying to understand I guess what people
Speaker 1: were thinking and then kind of break them down by age, group, sex, etcetera. Um,
Speaker 1: I guess give me a little bit more background onto
Speaker 1: what it is that you were trying to do here
Speaker 1: and what or what you did. Um. Yeah, man, Well,
Speaker 1: so I am a bitcoin evangelists, and I think of
Speaker 1: myself as a beginner mind type of person. I like
Speaker 1: to put myself in the shoes of a normal person,
Speaker 1: even though I've been in bitcoin since two thousand eleven. Um,
Speaker 1: so maybe I'm not in the in the same like
Speaker 1: newby mind as someone coming to bitcoin in two thousand
Speaker 1: twenty one, but I want to understand the newbie mind.
Speaker 1: So I ran this survey too kind of confirm some
Speaker 1: things that I had assumptions on about what people think
Speaker 1: about the money system, what people think about the stock market,
Speaker 1: what people think about bitcoin, just just to get a
Speaker 1: kind of an idea of what the different economic classes
Speaker 1: and uh, you know, men versus women things like that
Speaker 1: thought about bitcoin and the money system, and uh, we
Speaker 1: all have our our like suspicions of what everybody thinks
Speaker 1: and how people are educated on the financial system and
Speaker 1: the money system. But it's good to kind of get
Speaker 1: some confirmations and discover some new stuff. So that's why
Speaker 1: I had this survey run, so that I could kind
Speaker 1: of like have a bit more insight into maybe some
Speaker 1: of the assumptions we have are wrong or maybe they
Speaker 1: are all right. So yeah, that was the motivation, just
Speaker 1: to kind of like test the hypothesis that like, say,
Speaker 1: boomers just don't get bitcoin, or like women are so
Speaker 1: conservative that they won't invest in bitcoin, or you know,
Speaker 1: why are there's so many white males and bitcoin, Like
Speaker 1: there's all these different things that go around in bitcoin.
Speaker 1: It's like why do different groups think about the money
Speaker 1: system different ways? And how do they instinctively think about it?
Speaker 1: And they and and use that data so that we,
Speaker 1: as bitcoin evangelists can craft our message to appeal to
Speaker 1: the different groups of people to better educate them on
Speaker 1: what bitcoin really is and how the money system is
Speaker 1: screwing everybody. I I a couple of things were standing
Speaker 1: out to be before you came on. While we're waiting
Speaker 1: for you, I was chatting with my producer and engineer,
Speaker 1: and um, I just uh, I asked him just a
Speaker 1: couple of couple of questions. UM, and uh, the one
Speaker 1: question was just what backs the U. S Dollar? What's
Speaker 1: it backed by? That was like one of the questions
Speaker 1: that you had. And uh, I'm not going to call
Speaker 1: him up by name, but let's just say that both
Speaker 1: of them got it wrong. So UM, that was that
Speaker 1: was pretty telling, you know. UM, but I love the
Speaker 1: way that you put this together by um one obviously
Speaker 1: breaking them down by socio economic factors, ages, etcetera. But
Speaker 1: also I love that way that you basically run them
Speaker 1: through a set of questions and then by the time
Speaker 1: that you've finished showing and then the answers to those
Speaker 1: questions that you said, a large, large percentage of the
Speaker 1: people that went through the poll actually had changed their mind.
Speaker 1: Is that right? Yeah? That was the kind of initial
Speaker 1: basis of it was like Ron Paul does this thing
Speaker 1: on Twitter every year for since two thousands seventeen or
Speaker 1: so where he posits the question on Twitter and puts
Speaker 1: a little pole up. Now. I don't know if it's
Speaker 1: Ron Paul or his marketing media media manager guy whatever,
Speaker 1: but like Ron Paul's Twitter account, let's say, puts this
Speaker 1: poll out where it says, if you were given a
Speaker 1: windfall of cash, but or sorry, a windfall of ten
Speaker 1: thousand dollars, but you had to choose to keep it
Speaker 1: in somewhere for ten years. What would you choose? Would
Speaker 1: you choose gold? Cash? Um? And I think that he
Speaker 1: said bonds and bitcoin? Like it was basically like giving
Speaker 1: people four options. If you had ten years, someone rich
Speaker 1: relative gives you some money whatever it is, but you
Speaker 1: got to leave it there for ten years, what are
Speaker 1: you gonna choose? And uh, he runs the survey every
Speaker 1: year and it's cool. It's a cool concept. So I thought, well,
Speaker 1: I'd like to get a real survey done where we
Speaker 1: ask people that question and then we take them through
Speaker 1: a series of education about the financial system, and then
Speaker 1: at the end ask them the same question again and
Speaker 1: measure what the differences between people at the beginning who
Speaker 1: would say cash, and then people at the end who
Speaker 1: would drop cash for a bitcoin. Yeah. Yeah, so that's
Speaker 1: like kind of the first question that you open up with,
Speaker 1: which was so cool. By the way, you're listening to
Speaker 1: the Mark Mo Show, we're talking about bitcoin, the decentralized Revolution.
Speaker 1: I'm with Brad Mills. Uh. You can find them on
Speaker 1: Twitter at Brad Mills can M I L L S
Speaker 1: can so follow him on Twitter ask him some questions
Speaker 1: about this if you want. But in that question, basically
Speaker 1: what you just kind of framed up you would ask, um,
Speaker 1: if a wealthy person were to gift you ten tho dollars, uh,
Speaker 1: and you get to choose how you accept it, and
Speaker 1: it catches, you have to hold it there for ten years, Um,
Speaker 1: what would you choose? Um? And And just that right
Speaker 1: there was pretty telling. So for pretty six percent chose
Speaker 1: US dollars, gold, eight percent stocks, and then the lowest,
Speaker 1: the thirteen percent was bitcoin. But what I thought was
Speaker 1: most interesting about that is as I dug into the
Speaker 1: data behind the answers, I saw that, um, you know,
Speaker 1: the boomers and Gen X were more likely for gold,
Speaker 1: and the Gen gen X, millennials and Gen Z were
Speaker 1: more likely for bitcoin. That wasn't shocking, But the one
Speaker 1: that was was the SCS effects the socio economic and
Speaker 1: it said that the wealthy were significantly more likely than
Speaker 1: all other classes to invest in the bitcoin verses eight um.
Speaker 1: And then the second part the low income and below
Speaker 1: poverty line significantly more likely to choose US dollars. And
Speaker 1: so that piece right there is like telling as to
Speaker 1: why we consistently have this like growing gap of income inequality.
Speaker 1: I think, yeah, for sure, man, it's definitely like that's
Speaker 1: our assumption to that. You know, like rich people think
Speaker 1: more about investing, and they're more educated on investing, so
Speaker 1: of course they're going to choose something like bitcoin or
Speaker 1: gold or stocks or whatever than someone who's like living
Speaker 1: paycheck to paycheck and they can't afford to like hold
Speaker 1: onto investments because they're just they're not educated and they
Speaker 1: don't have the privilege I guess, to be able to
Speaker 1: sit in investments when they got bills. So that wasn't
Speaker 1: really surprising to me. What was what was more surprising
Speaker 1: to me with with the results of like going through
Speaker 1: the full education was, by the end of it, like
Speaker 1: the poor people had choose chosen bitcoin, like on a
Speaker 1: much broader basis than the other the other options because
Speaker 1: most people just don't know about cash, they don't know
Speaker 1: about what backs dollars, they don't know that it's lost
Speaker 1: its purchasing power. So everybody across the spectrum increased to
Speaker 1: bitcoin a lot when they're educated. But poor people also
Speaker 1: were just you know, they just need some education, and
Speaker 1: once they get educated, on how crap be the Internet
Speaker 1: of the financial system is, and what a good opportunity
Speaker 1: and um it is to kind of save in bitcoin.
Speaker 1: They'll choose it just as well as a rich person. Yeah,
Speaker 1: that's a great point. Um. So I want to get
Speaker 1: into some of those questions that got people to change
Speaker 1: their mind, because I'm I'm imagining we have a lot
Speaker 1: of people listening who probably still aren't fully convinced, and
Speaker 1: maybe if they get asked the same questions. But before
Speaker 1: we do, I just going back to kind of that
Speaker 1: first part um about the wealthier people were more into
Speaker 1: investing in the in the lower income people weren't, and
Speaker 1: and um, the piece I just want to kind of
Speaker 1: emphasize on that is that the reason why we kind
Speaker 1: of one of the main contributors to this income divide
Speaker 1: of rich and poor is that the wealthy invest their money.
Speaker 1: They buy real estate, they buy stocks, they buy um bitcoin, etcetera.
Speaker 1: And those things go up in money as the Fed
Speaker 1: keeps printing, uh, they go open dollar values, um. Whereas
Speaker 1: unfortunately poor people they're just living off of wages which
Speaker 1: are continuing to purchase less and less, and then they're
Speaker 1: not buying any assets that go up in value, and
Speaker 1: so they're kind of double screwed. Um. But we are
Speaker 1: listening to the Mark Moss Show. I'm here with Brad Mills.
Speaker 1: You can find them on Twitter at Brad Mills, can
Speaker 1: m I l S. Can tweet Adam if you like
Speaker 1: this poll. Um. And when we get back, I want
Speaker 1: to find out what some of these questions were that
Speaker 1: you think we're probably um, the most instrumental in changing
Speaker 1: people's minds, UM. And then some of the more I
Speaker 1: guess we'll say shocking types of questions and stuff like
Speaker 1: what type of entity is the Federal Reserve or or
Speaker 1: or what is backing dollars? I know I got some
Speaker 1: people stumped with those already. So we'll be back in
Speaker 1: just a second on the Mark Moa Show. Stay tuned.
Speaker 1: All right, welcome back. You're listening to the Mark mo Show.
Speaker 1: We're talking about bitcoin. We're talking about the decentralized revolution UM.
Speaker 1: Not just a new technology, a technological revolution that will
Speaker 1: literally change the way that humanity works. It will literally
Speaker 1: change the future. We're talking about some education pieces. The
Speaker 1: lack of education, I think is what causes a lot
Speaker 1: of people to be held back and miss these opportunities.
Speaker 1: I'm joined by Brad Mills. You can find them at
Speaker 1: Twitter at Brad Mills can UM and he put together
Speaker 1: this poll UM and through a series of questions, was
Speaker 1: able to get some insight into kind of how people
Speaker 1: are viewing it UM and then also kind of change
Speaker 1: their perspective just by asking them questions. So, Brad, I'm
Speaker 1: jumping back into this UM. I guess what are some
Speaker 1: of the big questions that you think were maybe the
Speaker 1: big needle movers. They're like what's back in the US
Speaker 1: dollar for example, or UM. You know, I think it
Speaker 1: was more so the because in the middle of the
Speaker 1: survey we kind of take them down the rabbit hole
Speaker 1: and we started asking them about like the stock market
Speaker 1: and how the stock market has performed over the last
Speaker 1: few decades. And I think that's what moved the needle
Speaker 1: for the wealthier social economic classes that answered the survey,
Speaker 1: because most you know, if you've been in the stock
Speaker 1: market since the seventies, you probably would have got something
Speaker 1: crazy after Get the numbers off my head right now,
Speaker 1: but I think it's like a third X or something
Speaker 1: on your dollar invest But if you adjust that for
Speaker 1: inflation and purchasing power, loss of purchasing purchasing power. You know,
Speaker 1: you're maybe up like three x or something, really not
Speaker 1: that impressive over forty years of sitting in the stock market.
Speaker 1: So there was that that was kind of it seemed
Speaker 1: like the number of of of wealthy people who feel
Speaker 1: confident in answering questions about the stock market and about
Speaker 1: the financial system was really high. So a large percentage
Speaker 1: of wealthy people we're we're basically telling us that, oh, yeah,
Speaker 1: I know all about the stock market, I know about bitcoin,
Speaker 1: I know about gold. But then when we were explaining
Speaker 1: how once you would just for the drop and purchasing power,
Speaker 1: you didn't really do that good and you didn't even
Speaker 1: hold your purchasing power against gold in the last you know,
Speaker 1: thirty or forty years if you had just saved in dollars.
Speaker 1: And it was really shocking that people, like a lot
Speaker 1: of people thought that the US dollar actually gained purchasing
Speaker 1: power over the last thirty years. Like the majority of people,
Speaker 1: um just have no clue about how the dollar loses
Speaker 1: its value and how once you once you think in
Speaker 1: purchasing power instead of dollars, you're actually treading water or
Speaker 1: not doing very good. And and then when We would
Speaker 1: then later ask them would you believe of us? Would
Speaker 1: you believe us if we told you x, y or z.
Speaker 1: We would educate them about like the performance of the
Speaker 1: stock market. A lot of the rich people we're just
Speaker 1: resistant to accepting that what we had just told them
Speaker 1: was the truth. But the longer we go on the survey,
Speaker 1: the more that we see people converting to this this
Speaker 1: rabbit hole of information and education or teaching them about
Speaker 1: purchasing power and wealth preservation versus just the number go
Speaker 1: up of the stock market versus the actual amount of
Speaker 1: things they can purchase with the with the money. And
Speaker 1: then by the end of it, the uh, it was
Speaker 1: pretty clear that the wealthy segment of people that answered
Speaker 1: the survey were way overconfident. They thought they knew so
Speaker 1: much about the dollar, the stock market, and bitcoin, and
Speaker 1: then all their answers were consistently wrong. So it was
Speaker 1: hilarious to see that come out through the survey. And
Speaker 1: then by the end the wealthy people of course increased
Speaker 1: that like their answer that they would choose bitcoin, by
Speaker 1: quite a lot. The one thing that I've heard you
Speaker 1: keep saying over and over, which is um start to
Speaker 1: think about purchasing power and and I love that because
Speaker 1: that's something that I continue to pound the table on. Um,
Speaker 1: we need to start thinking of things in terms of
Speaker 1: purchasing power, because right now everybody is thinking about things
Speaker 1: in terms of US dollars. It's, you know, the half
Speaker 1: of every transaction if you're in the United States, which
Speaker 1: most people here listening are, And so I like to
Speaker 1: ask people the question, like, right now in the US,
Speaker 1: are is real estate expensive or is it cheap? And
Speaker 1: I would ask people that question and they're like, uh well,
Speaker 1: I'm like, well, in US dollars, it's very expensive. They've
Speaker 1: never been more expensive. But what if we priced it
Speaker 1: in gold or oil or bitcoin or something like that, Well,
Speaker 1: then homes have actually never been cheaper, and so um,
Speaker 1: you have to start thinking in terms of purchasing power.
Speaker 1: So it's uh so it's good that you could do that.
Speaker 1: The other thing that you said that that also makes sense,
Speaker 1: and I find this true, is um, the more educated
Speaker 1: you are, Unfortunately, UM yeah, sometimes you you hold yourself
Speaker 1: back because I hear from people the more educated they
Speaker 1: are like oh I get it, I get it. I
Speaker 1: get It's like digital gold shure, yeah whatever, Oh yeah,
Speaker 1: I get it. It's kind of like digital cash. Okay,
Speaker 1: I get it, and they think they get it, whereas
Speaker 1: like you, you've been in since two thousand eleven, I've
Speaker 1: been studying since two thousand fifteen, and I'm still trying
Speaker 1: to figure it out, right, um, And so maybe the
Speaker 1: rich are maybe too proud. I guess they're too proud
Speaker 1: to admit it or what. I think it's just confidence.
Speaker 1: I think that there the wealthy people are like displayed
Speaker 1: a lot of confidence in their answers, but they were
Speaker 1: confidently wrong, like they were wrong more than the lower
Speaker 1: income class is Like, it was funny to see that
Speaker 1: because even the wealthy people were answering the questions about
Speaker 1: bitcoin as if they knew, like they would know the
Speaker 1: value of bitcoin, because I think one of the questions
Speaker 1: we had put up was compared to gold, like do
Speaker 1: you think bitcoin's value as pert as a market cap
Speaker 1: is bigger than gold? Is it smaller than gold? And
Speaker 1: we give some numbers, and the wealthy segment of the
Speaker 1: surveyor respondeds. We're answering confidently that you know, pretty much,
Speaker 1: they thought they'd missed it, that bitcoin was already as
Speaker 1: valuable as gold and it was not really like much
Speaker 1: opportunity investing a bitcoin anymore, and then we would tell
Speaker 1: them in the next question, like, actually, it's got a
Speaker 1: twenty x to go if it's gonna catch up to gold. Um,
Speaker 1: well that at the time of the survey, and now
Speaker 1: it's more like a ten x. But and I think
Speaker 1: that also increased the the you know, the the likelihood
Speaker 1: that the person was going to accept choose bitcoin now
Speaker 1: because wealthy folks, and this was across the board. People
Speaker 1: thought bitcoin had already got this big, massive run and
Speaker 1: there were too late to the game and they missed it.
Speaker 1: And the other thing was that, um, across all social
Speaker 1: economic classes, men, women, everything, more people knew that bitcoin
Speaker 1: was not controlled by anybody than the dollar. Like people
Speaker 1: people when we asked the question about the dollar, what
Speaker 1: do you think controls printing of the US dollar? Who
Speaker 1: do you think controls monetary policy of the US dollar?
Speaker 1: More people said the wrong answer for that, But when
Speaker 1: we asked about bitcoin, more people actually said the right answer.
Speaker 1: They said nobody. So there's kind of an interesting thing
Speaker 1: there that, like there's a lot of misinformation and confusion
Speaker 1: about the entire money system, the stock market, how dollars
Speaker 1: are made, who controls it what it's backed by, and
Speaker 1: even bitcoin there's a lot of confusion there, but people
Speaker 1: definitely consistently, once they're educated, choose bitcoin over all these
Speaker 1: other things. Stocks, bonds, come out of these real estate everything.
Speaker 1: Once they start learning, when go down the rabbit hole,
Speaker 1: there's is good to see that. Yeah, I think maybe, Um,
Speaker 1: you know the media that constantly attacks bitcoin and they
Speaker 1: want to put out this fud, the fear uncertainty, in doubt.
Speaker 1: They constantly talk about we don't even know who the
Speaker 1: creator was, you know, who's Tosi nakamotive as he disappeared.
Speaker 1: So they've probably helped a little bit on that side
Speaker 1: educating there, But on the stuff that's that's really important, Um,
Speaker 1: they they they've lacked obviously. I keep thinking about you
Speaker 1: know Henry Ford's quote a hundred years ago that said,
Speaker 1: if the if the people knew how the banking system worked,
Speaker 1: there would be a revolution before the morning, like they
Speaker 1: wouldn't wait to like like literally it happened overnight or
Speaker 1: before the morning came. And um, so then I just think, well,
Speaker 1: you know, with this lack of education, as we can
Speaker 1: see from your poll, um, people have either been intensively
Speaker 1: misled or withheld information from the worst case, you know,
Speaker 1: where they've been straight out lied to UM. But I
Speaker 1: want to jump into a couple more questions that you
Speaker 1: have on this UM. You're you're listening to the Mark
Speaker 1: Moa Show. We're talking about bitcoin. We're talking about the
Speaker 1: decentralized Revolution. I'm here with Brad Mills who put together
Speaker 1: this survey to find out what people know about bitcoin
Speaker 1: and just the financial system overall. You can find them
Speaker 1: at Brad Mills can on Twitter UM number one, Mark
Speaker 1: Moss on Twitter UM. Send us a message, ask a question.
Speaker 1: We'll make sure to get back to you on that.
Speaker 1: When we come back, we're gonna talk about some of
Speaker 1: these specific questions that can maybe change your mind. We'll
Speaker 1: see if you can stump you on a few, so
Speaker 1: we'll be right back. All right, Welcome back. You are
Speaker 1: listening to the Mark Moss Show, and we are talking
Speaker 1: about bitcoin. We're talking about the decentralized revolution. We're talking
Speaker 1: about something so new, so revolutionary that it's literally going
Speaker 1: to change the way the world works. And if you're
Speaker 1: not paying attention, it might end up bad for you.
Speaker 1: But if you're paying attention, it could be one of
Speaker 1: the biggest opportunities of your life. I'm joined here with
Speaker 1: Brad Mills at Brad mills Can on Twitter UM, and
Speaker 1: we're talking about a pull that he recently ran, UM
Speaker 1: asking people questions about the financial system and about bitcoin UM.
Speaker 1: And then well some of the answers were what some
Speaker 1: of the shocking things were and how people change their mind? UM. Brad,
Speaker 1: you were talking about UM asking people about the performance
Speaker 1: of assets. UM. I see one of the questions here
Speaker 1: was you know, what do you think was a better
Speaker 1: investment asset over the last ten years? UM? And it's
Speaker 1: almost half the people thought gold UM. Almost people said
Speaker 1: the stock market UM, and even fifteen people thought cash UM,
Speaker 1: which is pretty amazing to me because I mean bitcoin
Speaker 1: has averaged a two compounded annual growth rate over the
Speaker 1: last ten years UM. And it seems like that's like
Speaker 1: pretty well known, Like you see it. Even the news
Speaker 1: is talking about it. Today's uh, you know, it's it's
Speaker 1: kind of everywhere. Was that one shocking for you, No,
Speaker 1: because it just goes to show that not many people
Speaker 1: think really too hard about what backs money and the
Speaker 1: relative value of bitcoin or anything really versus other things.
Speaker 1: It's a really foreign concept. Most people just just kind
Speaker 1: of like money is just part of their live and
Speaker 1: they don't actually look deeply into it. So that was
Speaker 1: that was not surprising for me to see that, but
Speaker 1: it is it is really heartening again for me to
Speaker 1: see that, like once these people do get educated. Like
Speaker 1: in the next question, um, we asked them about what
Speaker 1: do they think bitcoin's worth? Because like, no, like to
Speaker 1: only twelve percent of the people that were asked that question,
Speaker 1: like chose the right answer that they only twelve percent
Speaker 1: of the people realized that bitcoin was the best investment
Speaker 1: over the last decade. So ten percent of the people
Speaker 1: just had no twelve percent of the people just had
Speaker 1: no clue that bitcoin was was doing so well compared
Speaker 1: to even the U. S. Stock market and gold and
Speaker 1: you know, the dollar. So in the next question, that's
Speaker 1: when we asked them, well, how much do you think
Speaker 1: bitcoin is worth? Like do you think bitcoin's worth the
Speaker 1: size of the real estate market, the size of the
Speaker 1: gold market, which is eight trillion dollars. And then so
Speaker 1: many people thought bick when was was overvalued by a
Speaker 1: significant margin, Like barely anybody knew that bitcoin was such
Speaker 1: a good opportunity right now. I like the way that
Speaker 1: you asked that question though, because you've you've framed it, right,
Speaker 1: So you said, if all the cash money in the
Speaker 1: world is worth eighty trillion, if the gold is worth
Speaker 1: eight trillion, right, if if real estates worth two trillion,
Speaker 1: then what do you think all the bitcoin in the
Speaker 1: world is worth? Um? Right, So you kind of you
Speaker 1: kind of preframed it, Yeah, trying to give them a
Speaker 1: little idea like the these this thing is worth this,
Speaker 1: this thing is this big. How do you think bitcoin
Speaker 1: performs here? Yeah? It was. Well. The reason why I
Speaker 1: think that's important is, you know, if we were in
Speaker 1: Silicon Valley. I know you're a you're a VC investor,
Speaker 1: you're investing into a lot of these early stage bitcoin companies.
Speaker 1: And if we were, you know, in in Silicon Valley
Speaker 1: a decade ago, and people were pitching this on uber,
Speaker 1: which most people, you know a lot of people have
Speaker 1: turned down. You're trying to figure out like what is
Speaker 1: it going to be worth? And you would look at like, well,
Speaker 1: what are the markets that it's going to disrupt? So,
Speaker 1: you know, taxi industry is this big Limon industry is
Speaker 1: this big h you know van right here is this
Speaker 1: big and if we can get five percent of each
Speaker 1: you know, we could have this market share, um. And
Speaker 1: so you kind of have to get that context. And
Speaker 1: that's kind of what you did in this question. Most
Speaker 1: people probably have no idea that there's two hundred trillion
Speaker 1: dollars sitting in real estate, and a lot of people
Speaker 1: probably don't want to be landlords. They only put it
Speaker 1: there because it's losing money in the bank. Um. We're saying,
Speaker 1: with eighty trillion in cash. When you start to look
Speaker 1: at you know, four hundred tillion dollars worth of debt
Speaker 1: or whatever, um, all of a sudden, then you go,
Speaker 1: we'll shoot, bitcoin is actually tiny, Like it's actually like
Speaker 1: super undervalued. I guess yeah. And that's why we saw
Speaker 1: people such a crazy difference. And from the beginning when
Speaker 1: we asked the question, the realm Paul inspired question, to
Speaker 1: the end of the survey, after giving them all this information,
Speaker 1: given them the comparing bitcoin to all the things that
Speaker 1: they're familiar with but never looked deeply into. By the
Speaker 1: end of the survey, the like across the board, everybody
Speaker 1: was choosing bitcoin like twice as much or three times
Speaker 1: as much UM. And most of it, most of the
Speaker 1: difference came from cash. A lot of people just decided, well, actually,
Speaker 1: I don't want to hold the cash for ten years,
Speaker 1: I want some bitcoin. Um. Gold kind of held up
Speaker 1: for sure, like people still wanted some stocks and some gold,
Speaker 1: but it was a majority of the difference in the
Speaker 1: the the answer came from people dropping cash and picking
Speaker 1: up some bitcoin, and it was um. Surprisingly, gen zs,
Speaker 1: the younger people who were one of the biggest demographics
Speaker 1: that didn't realize what a good opportunity bitcoin was. And
Speaker 1: it was obviously like boomers. That's what everybody assumes that
Speaker 1: Boomers just don't get the new tech. They're into gold, um,
Speaker 1: They're into real estate and stuff like that. Stocks, so
Speaker 1: that was obvious from the beginning. The Boomers were very
Speaker 1: like low compared to the other generations to choose bitcoin.
Speaker 1: But after going through the survey, one of the most
Speaker 1: surprising things that came out of this, honestly was the
Speaker 1: idea that like the Boomers that went through the sermon survey,
Speaker 1: they change their answer at a ray that was faster
Speaker 1: than bigger and more impactful than any of the other generations.
Speaker 1: So there was like a three sevent increase from the
Speaker 1: beginning to the end in the boomer demographic, so it
Speaker 1: kind of goes contrary contrary to the assumption that most
Speaker 1: of us have a butt like boomers not. You know,
Speaker 1: just let's just forget about educating the boomers, like like
Speaker 1: Gray Scale runs the drop gold campaign, which is trying
Speaker 1: to like convince the boomers to get rid of their gold,
Speaker 1: and you know, I think from the results of the survey,
Speaker 1: that might actually not be the best approach here, because
Speaker 1: based on this survey result, if you just educate and
Speaker 1: take them down the rabbit hole and show them what
Speaker 1: a good opportunity bitcoin is and how well it's done
Speaker 1: over the last decade and how it's poised to catch
Speaker 1: up to gold, I think they'll just naturally kind of
Speaker 1: get that and they'll they'll start to align with bitcoin,
Speaker 1: rather than we come out come at them with adversarial
Speaker 1: like drop bitcoin, you boomer. You know, let's let's just
Speaker 1: try a little bit more to educate them and be
Speaker 1: a little bit uh more convince singing our arguments and
Speaker 1: maybe not trying to piss them off. I don't know,
Speaker 1: that might help. Yeah, that's a that's a good point.
Speaker 1: I like the question where you said, you know, if
Speaker 1: if bitcoin succeeds. Do you think it could ever increase
Speaker 1: to be worth the same amount as gold? Now before
Speaker 1: before I say what the answer was on that, we
Speaker 1: we do know that both JP Morgan and City Bank
Speaker 1: have both put out guidance, both of them saying that
Speaker 1: they think bitcoin will overtake gold. Um per this survey
Speaker 1: of people think that it could overtake or be worth
Speaker 1: as much or overtake gold. And so just to kind
Speaker 1: of put that into perspective for everybody listening, that's about
Speaker 1: a ten x from here today, I mean approximately right,
Speaker 1: So I mean that's a JP Morgan and City Bank
Speaker 1: both think that. About more than half of the survey
Speaker 1: respondents thought that as well. And so I know a
Speaker 1: lot of people think, um, they've missed the boat. It's
Speaker 1: too late. I think a lot of these UH marketers
Speaker 1: are saying, get the next bitcoin, right, get the next one.
Speaker 1: But like per JP Morgan, City Bank and over half
Speaker 1: of these respondents, um, they could go up ten x
Speaker 1: from here. Yeah. And actually I ran the survey a
Speaker 1: while ago and it was at this point I think
Speaker 1: it was like twenty or thirty x or something even.
Speaker 1: So as as bitcoin keeps going up, what we've seen
Speaker 1: is definitely more people are dropping gold and they're choosing bitcoin.
Speaker 1: It's it's you can see it in the charts. So
Speaker 1: this is kind of playing out, and I wonder if
Speaker 1: it's uh, I wonder what strategy is more effective at
Speaker 1: at that. Is it like you know, like Michael Sailor
Speaker 1: debating the gold bugs and stuff, or in gray scale
Speaker 1: running the drop gold campaign. Is that really effective at
Speaker 1: converting people to switch over to gold or is it
Speaker 1: really just the number go up technology that bitcoin has
Speaker 1: installed and it's just just a lot of fomo from
Speaker 1: these folks who are now like waking up to the
Speaker 1: idea that Okay, maybe this is digital gold and I
Speaker 1: gotta look into it, and they're just going and getting
Speaker 1: educated on it versus the adversarial like drop gold, you boomer. Yeah, Well,
Speaker 1: I think I think the answer is it depends and
Speaker 1: so per your data, differences in age, income level, and
Speaker 1: even sex um respond differently, and so I think, you know,
Speaker 1: bitcoin needs lots of different people talking about lots of
Speaker 1: different things, and then people will find kind of the
Speaker 1: areas that they kind of gravitate towards UM based off
Speaker 1: of that UM. And I call Bitcoin the great bait
Speaker 1: and switch because most people come in for the number
Speaker 1: go up technology right, for the tow to make money.
Speaker 1: But once they come in they start learning about it. Um.
Speaker 1: Then they've been bathed in by the by the money
Speaker 1: going up, and then they get they get switched into
Speaker 1: learning that it can actually fix the world. It can
Speaker 1: fix the money, print, take away the money, printer, fix
Speaker 1: the money, fix the world, and so much more. Um,
Speaker 1: you're listening to the Mark mo Show. I got Brad
Speaker 1: mills on at Brad mills can We're talking about this
Speaker 1: bitcoin survey, bitcoin education. I want to talk about, um,
Speaker 1: what's growing on top of bitcoin when we come back. Um,
Speaker 1: it's not just about money. It's not just digital cast,
Speaker 1: not just digital gold. It's more than that. So we're
Speaker 1: gonna be back in just one minute to talk about that,
Speaker 1: and so stay tuned. All right, welcome back. You're listening
Speaker 1: to the Mark Moa Show, and we are talking about
Speaker 1: bitcoin and the decentralized revolution, which is something so big.
Speaker 1: Not just a new technology, not the iPhone, not Uber Airbnb.
Speaker 1: We're talking about technological revolution that will change the way
Speaker 1: the world works, kind of like electricity. It wasn't just
Speaker 1: a digital candle. I mean it was, but it became
Speaker 1: so much more. And that's what we're sitting on right
Speaker 1: now now when we're talking about bitcoin. UM. I know
Speaker 1: a lot of people, and we talked about earlier before
Speaker 1: the break about your poll and maybe the more educated
Speaker 1: people are, they tend to maybe be overconfident, and oh,
Speaker 1: I get it. I get it's like digital cash or
Speaker 1: digital goal that whatever. I don't need that right, um,
Speaker 1: But but it's so much more. Just like just like
Speaker 1: electricity was a digital candle, it was that, or the
Speaker 1: internet was a way to send electronic messages, it became
Speaker 1: so much more. Um. One thing that I've been seeing
Speaker 1: and I'm actually super encouraged by, is we're starting to
Speaker 1: see the bitcoin network itself be a network that we're
Speaker 1: seeing new technologies being built on. So for example, about
Speaker 1: a month ago in Dallas, there was a hackathon and
Speaker 1: someone like came up with like a phone that could
Speaker 1: like call over the like bitcoin network. Um, there's a
Speaker 1: couple like communities that are being built on there now
Speaker 1: where people are chatting, um, streaming, you know, content things
Speaker 1: like that. What do you think about like the future
Speaker 1: of these these new types of technologies being built on
Speaker 1: the Bitcoin network. So I am. I mean earlier you
Speaker 1: said I was like a VC, right, I don't know
Speaker 1: if that's a dirty word. Like sometimes I get a
Speaker 1: bit of cognitive distance because like I came from poverty,
Speaker 1: and I don't really have like that type of an
Speaker 1: educational background or anything. I really came from like you know,
Speaker 1: low income, uh, poor family on the East coast to Canada,
Speaker 1: or it's high unemployment and stuff. And bitcoin was my
Speaker 1: kind of my escape from all of that because I
Speaker 1: started like I was an entrepreneur, so I you know,
Speaker 1: I started hustling and making money and I so I
Speaker 1: have an entrepreneurial mind. And when I started making money,
Speaker 1: I started like looking at this as well, what am
Speaker 1: I going to invest in? Like, I guess I should
Speaker 1: get some stocks because that's what rich people do. And uh,
Speaker 1: I'm like, but stocks are a Ponzi scheme. I don't
Speaker 1: want to buy any stocks. And and it was like
Speaker 1: around the time after the financial crisis, you know, the
Speaker 1: two eight so I got really kind of down the
Speaker 1: rabbit hole with like libertarianism and Ron Paul and gold
Speaker 1: and all of that. So what I really wanted to
Speaker 1: do was angel invest and um, so I started taking
Speaker 1: some of my profits from my company where I was
Speaker 1: an entrepreneur and I wanted to invest in other people
Speaker 1: that have good ideas and and just kind of support
Speaker 1: people and see people build out their vision. So it
Speaker 1: took me ten years, but now I'm doing that thanks
Speaker 1: to bitcoin. And my mission with my angel investing and
Speaker 1: VC activities is I don't really want to do this
Speaker 1: like the Silicon Valley type of VC where they're just
Speaker 1: they're just like trying to get into these rounds and
Speaker 1: they know they're going to dump it on the public
Speaker 1: markets and to go public and make unicorns and get
Speaker 1: a thousand X. I really care, like kind of like
Speaker 1: what you were just saying, I really care about seeing
Speaker 1: entrepreneurs build on bitcoin and and show the world what
Speaker 1: bitcoin can do. So what I'm doing is kind of
Speaker 1: like I'm kind of donating really like it's all the
Speaker 1: way I look at it, like, I'm just I'm just
Speaker 1: doing my duty as a bitcoiner. Two seed companies and
Speaker 1: invest in bitcoin entrepreneurs who are resisting the urge to
Speaker 1: go issue, and I c o or go issue with token,
Speaker 1: and they're resisting that urge and they're staying true to
Speaker 1: the mission of bitcoin because all the stuff that's happening
Speaker 1: over in crypto world and on ethereum and all these blockchains.
Speaker 1: That's all possible on bitcoin, and you can do it
Speaker 1: without a token. But all the flashing lights and all
Speaker 1: the Silicon Valley money and all this hedge fund money,
Speaker 1: it's going. Most of it is going towards the crypto
Speaker 1: stuff because there's all this foamo there. It's like dot
Speaker 1: com two point oh. So what I like to see
Speaker 1: is all these bitcoiners that are becoming wealthy and and
Speaker 1: having their lives changed because they're their their conviction on bitcoin.
Speaker 1: I like to see them investing in bitcoin only companies.
Speaker 1: And it's been great man Like the last year especially,
Speaker 1: you got bitcoin er ventures, Trammel Venture Partners, um. You've
Speaker 1: got funds or charities like Brink, Bitcoin Open Sets, the
Speaker 1: Human Rights Foundation, Um, there's Alice Alice uh. Block Stream
Speaker 1: from block Stream's got a fund. Now there's thirty one
Speaker 1: they There's there's like institutional investment going into bitcoin startups.
Speaker 1: So it is really good to see that bitcoiners are
Speaker 1: kind of starting their own angel investing syndicates and venture
Speaker 1: capital groups and stuff to really direct capital and allocate
Speaker 1: resources towards bitcoin entrepreneurs building on bitcoin. So I do
Speaker 1: think that over the next few years we're gonna kind
Speaker 1: of see what's coming out of this. Like you've got
Speaker 1: things like Lolly and Fold and things that are like
Speaker 1: consumer apps. You've got like Strike who's building out with
Speaker 1: the peer to peer cash through the Lightning network. And
Speaker 1: it's probably gonna be a unicorn someday because Jack Mallers
Speaker 1: is just a beast. But then you've got um other
Speaker 1: things like you were mentioning, like interesting other use cases
Speaker 1: for Bitcoin. You've got third layers like entrepreneurs and bitcoin
Speaker 1: developers and stuff are building like the Fabric protocol and
Speaker 1: and these other layers on top of Bitcoin that are
Speaker 1: interoperable with Lightning, Like that's years away. You've got people
Speaker 1: who are building out bitcoin as an identity management system
Speaker 1: to like be the new Internet, Like you could build
Speaker 1: a new Internet on bitcoin with a third layer type
Speaker 1: of solution. So none of this stuff needs tokens. Bitcoin
Speaker 1: is the money, Bitcoin is the asset and the network.
Speaker 1: And entrepreneurs that want to build on bitcoin, they used
Speaker 1: to have basically a choice of like going broke selling
Speaker 1: their bitcoin, missing the upside of bitcoin. To try to
Speaker 1: build on bitcoin but thankfully now there's lots of angel
Speaker 1: investors and stuff that are willing to fun bitcoin businesses
Speaker 1: and you can see some of them on Bank to
Speaker 1: the Future and sites like that. So yeah, as far
Speaker 1: as like really cool useful I mean really cool unique
Speaker 1: apps and stuff like that, most of its financial stuff
Speaker 1: right now, there is some things like cool stuff like
Speaker 1: Adam Curry is doing that that podcasting technology on Lightning Network.
Speaker 1: A bunch of node running companies, um Gallowie Money is
Speaker 1: doing something pretty interesting. They're doing like credit unions on
Speaker 1: bitcoin through the Lightning Network, where communities kind of have
Speaker 1: like bitcoin banks and nodes and they connect to the
Speaker 1: credit union basically like they connect to the Bitcoin credit
Speaker 1: union sort of thing that they're setting up. I mean,
Speaker 1: this is this is like just the tip of the
Speaker 1: iceberg for how big bitcoin can get and how decentralized
Speaker 1: we can even make it even more. So I'm just
Speaker 1: excited to see it. Like it kind of sucks to
Speaker 1: see all the fra seen this happening over on on
Speaker 1: the crypto side because it's a lot of dot com
Speaker 1: two point oh bubbly nonsense. But then we got you know,
Speaker 1: Jack from Twitter and uh, big companies like that that
Speaker 1: are that are actually like aligning with the mission of bitcoin,
Speaker 1: has peer to peer, decentralized cash, and a sound money,
Speaker 1: like Austrian type of sound money. So it's really good
Speaker 1: to see like that type of UM. They're they're not
Speaker 1: just doing it for money, They're doing it for altruistic
Speaker 1: reasons and principled reasons. So I'm more excited by seeing
Speaker 1: that uptick than i am by like some unicorn company
Speaker 1: that might go with thousand next on the stock market
Speaker 1: or something like that. Well, I think the problem is that,
Speaker 1: you know, with the I c O craze as you
Speaker 1: kind of referred to UM, it's pretty easy for somebody
Speaker 1: to go UM launch a token and go raised twenty
Speaker 1: million bucks to go build out a project, but to
Speaker 1: build an application that goes on top of the Bitcoin protocol.
Speaker 1: Because there is no UM token, you can't just go
Speaker 1: get twenty million dollars out at than air and so
Speaker 1: then you're forced to kind of go the traditional route,
Speaker 1: which is get the friends and family, get the angels,
Speaker 1: get the get the venture capitalist, et cetera to invest
Speaker 1: into your company. So it's, uh, it's the older, more, more,
Speaker 1: you know, more older model UM that just it. It
Speaker 1: takes longer, but of course all good things take time, UM,
Speaker 1: and so UM rushing out to build UM. You know
Speaker 1: your own token isn't probably the best long term sustainable
Speaker 1: option UM. But that's great, Brad. I agree. I mean,
Speaker 1: there's so much good things going on. I think it's
Speaker 1: going to change the world, and I think it's gonna
Speaker 1: be bigger than most people even realize. But you're listening
Speaker 1: to the markma Show each week where I talk about
Speaker 1: bitcoin and I talk about this decentralized revolution, really trying
Speaker 1: to give you, UM the asymmetric information. That's information most
Speaker 1: people don't know, so you can have the asymmetric opportunity
Speaker 1: the upside that most people won't have. UM. I'm just
Speaker 1: joined with Brad Mills. You can find them on Twitter
Speaker 1: at Brad Mills. Can UM send him a message, send
Speaker 1: him a question? UM one Mark Moss on Twitter also
Speaker 1: add me and send me a question, Brad. Anything you
Speaker 1: want to direct people to while I got you last minute? Yeah? Thanks.
Speaker 1: I just finished this short film that is everybody's been
Speaker 1: talking about it on Twitter and in my personal life.
Speaker 1: It's called this Machine Greens dot com and it's a
Speaker 1: really well done short film by a filmmaker friend of mine,
Speaker 1: Jamie King, that talks about the truth behind the bitcoin
Speaker 1: energy conversation, so you can get a bit bit more
Speaker 1: educated on that you know, a bitcoin is bad for
Speaker 1: the environment, myth that everybody seems to be falling for
Speaker 1: this machine, greens. Go check it out. And that's it.
Speaker 1: Thanks so much, Brad, We'll see you later. Thank you.
Speaker 1: With that, I gotta wrap it up. Thanks for listening
Speaker 1: to The Mark Mosch Show.