1 00:00:00,080 --> 00:00:02,920 Speaker 1: Hey, everyone, welcome to another episode of The Mark Moss 2 00:00:03,000 --> 00:00:06,400 Speaker 1: Show where we're talking about bitcoin. We're talking about bitcoin, 3 00:00:06,440 --> 00:00:09,680 Speaker 1: We're talking about the decentralized revolution. Each and every week 4 00:00:10,039 --> 00:00:12,920 Speaker 1: it's the most important, most profitable part of your week, 5 00:00:13,039 --> 00:00:15,320 Speaker 1: trying to understand what's going on. Of course, each and 6 00:00:15,360 --> 00:00:18,160 Speaker 1: every week I bring to you some education to help 7 00:00:18,200 --> 00:00:20,919 Speaker 1: you build that foundation. I bring you the latest breaking 8 00:00:20,960 --> 00:00:22,799 Speaker 1: news and headlines, and then I try to bring you 9 00:00:22,840 --> 00:00:25,280 Speaker 1: some of the best and brightest people in the industry 10 00:00:25,320 --> 00:00:28,040 Speaker 1: to give you some some different insights into what's going on. 11 00:00:28,160 --> 00:00:30,720 Speaker 1: And um today I'm in the studio with a with 12 00:00:30,760 --> 00:00:33,120 Speaker 1: a good friend, Brandon quit Um. You can find him 13 00:00:33,120 --> 00:00:36,040 Speaker 1: on Twitter at b quit Um. That's q U I 14 00:00:36,200 --> 00:00:39,160 Speaker 1: T t e m at b quit Um. He uh. 15 00:00:39,200 --> 00:00:41,279 Speaker 1: He works with Swan Bitcoin and company that I work 16 00:00:41,360 --> 00:00:43,760 Speaker 1: with as well, and um man, he has just some 17 00:00:43,840 --> 00:00:45,720 Speaker 1: great insights. I always love talking to him. So Brandon, 18 00:00:45,720 --> 00:00:48,400 Speaker 1: thanks for joining. Hey, Mark, thanks for having me on. 19 00:00:48,520 --> 00:00:51,800 Speaker 1: Good to see you as always. Yeah, you know, I know, 20 00:00:52,080 --> 00:00:55,400 Speaker 1: um shoot, I think it was like a month ago. 21 00:00:55,480 --> 00:00:58,440 Speaker 1: Maybe we were both in Miami. Um, we both we 22 00:00:58,520 --> 00:01:00,959 Speaker 1: both did kind of shows with Peter mccorm podcast, which 23 00:01:01,040 --> 00:01:02,280 Speaker 1: was which was cool, and then we got to go 24 00:01:02,320 --> 00:01:05,960 Speaker 1: have have some dinner. And UM, I always love having 25 00:01:05,959 --> 00:01:08,440 Speaker 1: conversations with you, and I wanted to talk about that. 26 00:01:08,480 --> 00:01:13,920 Speaker 1: We were both kind of laying out different thesis is UM, 27 00:01:13,959 --> 00:01:16,319 Speaker 1: but they also overlap at the same time. And I 28 00:01:16,319 --> 00:01:20,160 Speaker 1: think there's some some some good stuff in there. And UM, 29 00:01:20,200 --> 00:01:23,600 Speaker 1: I think the big thing is like, Uh, you've been 30 00:01:23,640 --> 00:01:26,240 Speaker 1: talking a lot about, you know, an eighty year cycle 31 00:01:26,319 --> 00:01:29,280 Speaker 1: that's based off of a book, UM, the Fourth Turning, 32 00:01:30,680 --> 00:01:32,720 Speaker 1: And UM, well, I think the Fourth Turning is interesting. 33 00:01:32,800 --> 00:01:35,240 Speaker 1: It's it's bigger than that. UM. But it's kind of 34 00:01:35,240 --> 00:01:38,760 Speaker 1: like this eighty year cycle. And UM, while I've been 35 00:01:38,760 --> 00:01:41,720 Speaker 1: saying that, a lot of what's going on today as 36 00:01:41,760 --> 00:01:45,440 Speaker 1: far as like UM, tensions are high, people alread each 37 00:01:45,440 --> 00:01:48,560 Speaker 1: other's throats. There's people all over the world that are 38 00:01:48,560 --> 00:01:51,720 Speaker 1: protesting in the streets, and a lot of people think 39 00:01:51,720 --> 00:01:54,560 Speaker 1: it's random, right, like, uh, it's a black Swan event. 40 00:01:54,720 --> 00:01:57,400 Speaker 1: Like who would have ever predicted that a virus would 41 00:01:57,400 --> 00:02:01,240 Speaker 1: come and do this? Right, It's it's random. Um. History 42 00:02:01,280 --> 00:02:04,640 Speaker 1: actually tells us it's not random. History actually tells us that, no, 43 00:02:05,000 --> 00:02:07,559 Speaker 1: this is you can call it the virus if you will, 44 00:02:07,600 --> 00:02:10,240 Speaker 1: but it's not random. Would you agree with that, and 45 00:02:10,280 --> 00:02:12,639 Speaker 1: if so, maybe set that up for us a little bit. Yeah, 46 00:02:12,720 --> 00:02:14,960 Speaker 1: I think that's a good point. I definitely do not 47 00:02:15,120 --> 00:02:18,679 Speaker 1: think that what we're seeing today is random. Um. Obviously 48 00:02:18,720 --> 00:02:23,240 Speaker 1: the world is complex. However, in in the individuals that 49 00:02:23,280 --> 00:02:26,399 Speaker 1: we all are acting in our own local environment, UM, 50 00:02:26,440 --> 00:02:29,920 Speaker 1: there appears to be patterns that emerge from this individual 51 00:02:29,960 --> 00:02:33,799 Speaker 1: actor level. And one thing that humans struggle with related 52 00:02:33,840 --> 00:02:36,440 Speaker 1: to this is that we always think linearly what I 53 00:02:36,480 --> 00:02:39,600 Speaker 1: do yesterday? What am I doing tomorrow? And that that 54 00:02:39,680 --> 00:02:42,880 Speaker 1: works in some instances, but it also leads us astray 55 00:02:43,000 --> 00:02:46,320 Speaker 1: when looking at the grand picture, the bigger picture of history. 56 00:02:46,639 --> 00:02:49,000 Speaker 1: And so I would I would turn people to cycles, 57 00:02:49,080 --> 00:02:51,000 Speaker 1: and I would like people to accept the fact that 58 00:02:51,040 --> 00:02:55,240 Speaker 1: cycles exist. Right. We measure our days and our years 59 00:02:55,360 --> 00:02:58,440 Speaker 1: based on cycles in um, the sun and the moon 60 00:02:58,520 --> 00:03:01,320 Speaker 1: for example. UM. If you look through history, their cycles 61 00:03:01,360 --> 00:03:05,760 Speaker 1: between is labor strong? Is capital strong? The individual? The collective? 62 00:03:05,760 --> 00:03:08,519 Speaker 1: Are we religious? Not? Right? There's all these different cycles. 63 00:03:08,919 --> 00:03:11,519 Speaker 1: And yeah, I do think we're at the end of 64 00:03:11,639 --> 00:03:15,320 Speaker 1: a long cycle, both from a Ray Dalio debt perspective, 65 00:03:15,560 --> 00:03:17,799 Speaker 1: but also through the fourth turning lens, which just looks 66 00:03:17,840 --> 00:03:22,160 Speaker 1: at individuals and the generations that they make up. And 67 00:03:22,200 --> 00:03:24,400 Speaker 1: the thesis is essentially that we're all born in the 68 00:03:24,440 --> 00:03:26,840 Speaker 1: same time period. Let's say we're millennials were born at 69 00:03:26,840 --> 00:03:30,080 Speaker 1: the same time, so the conditions upon which we're raised 70 00:03:30,080 --> 00:03:32,320 Speaker 1: are all the same, and so that sort of imprints 71 00:03:32,400 --> 00:03:35,800 Speaker 1: us with a certain mode, and we sort of respond 72 00:03:35,840 --> 00:03:38,920 Speaker 1: in predictive ways as a group, and then that group 73 00:03:39,000 --> 00:03:41,080 Speaker 1: sort of grows up and then they start to push 74 00:03:41,120 --> 00:03:44,440 Speaker 1: back on history and in somewhat predictable ways. So the 75 00:03:44,480 --> 00:03:49,200 Speaker 1: individual is unpredictable, but the demographics or the generational segment 76 00:03:49,320 --> 00:03:52,120 Speaker 1: is a little bit more predictable. And you mentioned one 77 00:03:52,160 --> 00:03:54,840 Speaker 1: thing about what we're seeing in the world, like is 78 00:03:54,880 --> 00:03:59,120 Speaker 1: the cancel culture consistent or is that new right? And 79 00:03:59,160 --> 00:04:01,360 Speaker 1: I think what most people notice right now is no 80 00:04:01,400 --> 00:04:05,640 Speaker 1: one can trust the institutions. And that's very common at 81 00:04:05,680 --> 00:04:08,400 Speaker 1: the end of the cycle, where essentially we look around 82 00:04:08,480 --> 00:04:11,400 Speaker 1: and we see healthcare, we see politics, we see government, 83 00:04:11,480 --> 00:04:15,000 Speaker 1: we see economics, and none of these institutions work for us. 84 00:04:15,280 --> 00:04:18,440 Speaker 1: And so that eroding trust sort of causes us to 85 00:04:18,560 --> 00:04:21,359 Speaker 1: civilization to respond in a way where it's time to 86 00:04:21,400 --> 00:04:24,479 Speaker 1: collectivize and it's time to make change, and that's sort 87 00:04:24,520 --> 00:04:26,840 Speaker 1: of the stress we feel right now. It's also at 88 00:04:26,880 --> 00:04:29,560 Speaker 1: the valley of the religious cycle. And so this is 89 00:04:29,600 --> 00:04:32,080 Speaker 1: the lowest point of religion the last eight years. And 90 00:04:32,120 --> 00:04:36,159 Speaker 1: so instead of turning to higher powers like traditional religions, 91 00:04:36,240 --> 00:04:38,800 Speaker 1: we choose politics as our religion. And that's why you 92 00:04:38,839 --> 00:04:43,520 Speaker 1: see so much in fighting right now. Who There's a 93 00:04:43,560 --> 00:04:45,200 Speaker 1: lot of things in there. I should have been I 94 00:04:45,200 --> 00:04:48,479 Speaker 1: should have been writing more of them down. UM. I 95 00:04:48,520 --> 00:04:52,239 Speaker 1: think about one the loss of trust institutions, as you said, UM, 96 00:04:52,279 --> 00:04:54,760 Speaker 1: and then I think about the low point of religion, 97 00:04:55,360 --> 00:04:58,280 Speaker 1: and and those are a little bit different. Let's talk 98 00:04:58,320 --> 00:05:01,479 Speaker 1: about the religion one for a minute, because is I 99 00:05:01,480 --> 00:05:04,400 Speaker 1: think what we have is that um, and and you 100 00:05:04,480 --> 00:05:07,720 Speaker 1: tell me where this fits in. But like what we 101 00:05:07,920 --> 00:05:10,680 Speaker 1: have is that the media is trying to tell us 102 00:05:10,720 --> 00:05:13,800 Speaker 1: today that we organize based off of sex or preference 103 00:05:13,880 --> 00:05:16,760 Speaker 1: or race or gender or whatever it may be. UM, 104 00:05:16,760 --> 00:05:20,480 Speaker 1: But really we we we organize or group on values. 105 00:05:21,240 --> 00:05:23,400 Speaker 1: So like at the Bitcoin conference, for example, would be 106 00:05:23,400 --> 00:05:25,880 Speaker 1: thirty five thousand people, all different races and genders and 107 00:05:25,920 --> 00:05:28,240 Speaker 1: sexual preference, whatever, but we're all they're based off of 108 00:05:28,279 --> 00:05:33,560 Speaker 1: shared values. And UM, it seems like morality or if 109 00:05:33,600 --> 00:05:35,920 Speaker 1: you want to call it religion has a and whatever 110 00:05:35,960 --> 00:05:38,680 Speaker 1: religion you want to, you know, subscribe to UM. They 111 00:05:38,920 --> 00:05:42,120 Speaker 1: have the shared sense of values of morality. And the 112 00:05:42,160 --> 00:05:44,760 Speaker 1: United States also used to have a shared set of values, right, 113 00:05:44,839 --> 00:05:47,080 Speaker 1: hard work and freedom and things like that, and it 114 00:05:47,080 --> 00:05:50,719 Speaker 1: seems like it's been completely destroyed. Not just all religion 115 00:05:50,760 --> 00:05:54,160 Speaker 1: has been driven out, but all sense of values. I mean, 116 00:05:54,160 --> 00:05:56,800 Speaker 1: would you group kind of morality together like that? And 117 00:05:56,960 --> 00:05:59,200 Speaker 1: is that kind of how you see it? Yeah, I 118 00:05:59,200 --> 00:06:01,800 Speaker 1: think that's right. I think religion is one source of 119 00:06:01,880 --> 00:06:05,400 Speaker 1: morality that people have drawn. Another one would be traditional 120 00:06:05,440 --> 00:06:08,760 Speaker 1: American values, like you said, which is power to the individual, 121 00:06:09,400 --> 00:06:13,880 Speaker 1: decentralization of central control from our government standpoint right. Essentially, 122 00:06:13,920 --> 00:06:17,280 Speaker 1: everyone has a chance, everyone has an equal opportunity to succeed. 123 00:06:17,720 --> 00:06:19,880 Speaker 1: And what it seems like now is that the state 124 00:06:19,960 --> 00:06:25,080 Speaker 1: has increasingly grown in size and power. And what that's 125 00:06:25,160 --> 00:06:29,920 Speaker 1: led to is UM individuals essentially outsourcing our higher power 126 00:06:30,480 --> 00:06:33,719 Speaker 1: or our morality to the big government. And so it 127 00:06:33,800 --> 00:06:36,400 Speaker 1: sort of feels like a surrogate parent or a surrogate 128 00:06:36,520 --> 00:06:39,120 Speaker 1: god in a sense. And so what that's led to 129 00:06:39,240 --> 00:06:40,960 Speaker 1: is a sort of a decline in what we would 130 00:06:40,960 --> 00:06:45,640 Speaker 1: consider traditional values. UM A decline from classical liberal values 131 00:06:45,960 --> 00:06:49,080 Speaker 1: and instead sort of a more of a collectivist mindset. 132 00:06:49,200 --> 00:06:52,440 Speaker 1: And UM, during chaotic periods like this, right, we're going 133 00:06:52,480 --> 00:06:54,760 Speaker 1: through a lot of volatility. I think everyone would agree 134 00:06:54,800 --> 00:06:57,559 Speaker 1: with that. During that period, it is natural to try 135 00:06:57,600 --> 00:07:00,880 Speaker 1: to collectivize a little bit because as we see this 136 00:07:01,000 --> 00:07:03,440 Speaker 1: grand challenge and it feels like the right thing to 137 00:07:03,520 --> 00:07:06,680 Speaker 1: do is come together and make the change. But that 138 00:07:06,760 --> 00:07:10,200 Speaker 1: also has some dark consequences. Right. For example, we've seen 139 00:07:10,200 --> 00:07:13,080 Speaker 1: a lot of cancel culture, and that is that feels 140 00:07:13,080 --> 00:07:15,760 Speaker 1: to me like an impulse from society to say, hey, 141 00:07:15,800 --> 00:07:18,040 Speaker 1: there's big problems, we have to work together to get 142 00:07:18,080 --> 00:07:21,640 Speaker 1: through them. And if you're not with us, you're against us. Right, 143 00:07:21,760 --> 00:07:23,640 Speaker 1: that's the phrase that I always come back to you. 144 00:07:23,720 --> 00:07:27,160 Speaker 1: And so what it leads to as individuals essentially eating 145 00:07:27,200 --> 00:07:29,760 Speaker 1: their own um. And so I call I call cancel 146 00:07:29,840 --> 00:07:33,560 Speaker 1: culture friendly fire and UM. It feels like the right 147 00:07:33,600 --> 00:07:35,920 Speaker 1: thing to do, but it actually undermines what we need, 148 00:07:36,680 --> 00:07:40,800 Speaker 1: which is to push decision making back out to the individual. Um. 149 00:07:40,880 --> 00:07:44,440 Speaker 1: That's how society is strongest, That's where prosperity is built 150 00:07:44,440 --> 00:07:48,640 Speaker 1: by individuals working hard and creating value rather than giving 151 00:07:48,720 --> 00:07:53,560 Speaker 1: up control to the centralized planners who, despite their best intentions, Uh, 152 00:07:53,800 --> 00:07:57,120 Speaker 1: central planning is not an appropriate way to steer an economy. 153 00:07:57,160 --> 00:08:00,760 Speaker 1: It's just not fundamentally possible to a lurp up all 154 00:08:00,840 --> 00:08:04,840 Speaker 1: the data that a market economy produces. And so we're 155 00:08:04,840 --> 00:08:07,080 Speaker 1: sort of, in my view, we're sort of shooting ourselves 156 00:08:07,080 --> 00:08:10,480 Speaker 1: in the foot by over collectivizing here. Um. And if 157 00:08:10,480 --> 00:08:13,160 Speaker 1: we want to tie one more thing back to these cycles, 158 00:08:13,200 --> 00:08:15,560 Speaker 1: about eighty years ago, we're on the tail end of 159 00:08:15,600 --> 00:08:18,480 Speaker 1: World War two or sorry that the beginning of World 160 00:08:18,520 --> 00:08:21,360 Speaker 1: War two and the end of the Great Depression, and 161 00:08:21,440 --> 00:08:25,040 Speaker 1: we saw a similar impulse where a lot of collectivism 162 00:08:25,080 --> 00:08:27,840 Speaker 1: came together, and that might have been needed during World 163 00:08:27,880 --> 00:08:30,320 Speaker 1: War two. But I do not see a reason for 164 00:08:30,400 --> 00:08:33,559 Speaker 1: us to overly collectivized or overly spend money now, as 165 00:08:33,559 --> 00:08:38,360 Speaker 1: if we're in wartime conditions. There's a lot of things 166 00:08:38,440 --> 00:08:42,800 Speaker 1: to dig in on that, um good places. I was 167 00:08:42,960 --> 00:08:46,680 Speaker 1: um talking to another big investor, kind of macro guy yesterday, 168 00:08:46,880 --> 00:08:51,200 Speaker 1: UM Chris Martinson, and he said, UM, I feel like 169 00:08:51,320 --> 00:08:54,520 Speaker 1: the world is in a blowoff top right now. So 170 00:08:54,559 --> 00:08:57,120 Speaker 1: in economics or in bitcoin, if you look at like 171 00:08:57,960 --> 00:09:00,760 Speaker 1: we had, there's this huge pair of allah run and 172 00:09:00,800 --> 00:09:03,280 Speaker 1: then you have the blowoff top and he said he 173 00:09:03,320 --> 00:09:06,000 Speaker 1: thinks the world is gonna blow blow off top. I'm 174 00:09:06,000 --> 00:09:08,000 Speaker 1: gonna explain what that means in a second. Um, if 175 00:09:08,000 --> 00:09:10,400 Speaker 1: you're listening to the markma Show, we're talking about bitcoin. 176 00:09:10,760 --> 00:09:13,920 Speaker 1: We're talking about cryptocurrencies and this decentralized revolution. We're talking 177 00:09:13,920 --> 00:09:16,600 Speaker 1: about it from a bigger lens today with Brandon quit 178 00:09:16,679 --> 00:09:19,360 Speaker 1: Hum from Swan Bitcoin. He's in the studio with me 179 00:09:20,320 --> 00:09:22,400 Speaker 1: at b quit Um on Twitter. Give him a shout 180 00:09:22,400 --> 00:09:25,320 Speaker 1: out and say hi, check out Swan Bitcoin. UM, and 181 00:09:25,360 --> 00:09:27,760 Speaker 1: we're gonna talk more about how bitcoin fix into this 182 00:09:27,920 --> 00:09:30,600 Speaker 1: long lens of cycles. Don't go away and be right back, 183 00:09:30,720 --> 00:09:32,520 Speaker 1: all right, welcome back. You are listening to the Mark 184 00:09:32,600 --> 00:09:34,959 Speaker 1: Moa Show and we're talking about bitcoin and and the 185 00:09:35,040 --> 00:09:38,079 Speaker 1: decentralized revolution that's happening. And I'm joined in the studio 186 00:09:38,120 --> 00:09:39,960 Speaker 1: to day by my friend that Brandon quit Um from 187 00:09:40,000 --> 00:09:42,880 Speaker 1: Swan Bitcoin. You can find him on Twitter at b 188 00:09:43,080 --> 00:09:46,320 Speaker 1: quit Um q U I T T E M. And 189 00:09:46,360 --> 00:09:49,520 Speaker 1: we're talking about of course bitcoin. Um, we're talking about 190 00:09:49,520 --> 00:09:52,760 Speaker 1: it from a much longer lens. UM looking at really 191 00:09:52,760 --> 00:09:54,400 Speaker 1: an eighty year time frame. I like to look back 192 00:09:54,440 --> 00:09:56,440 Speaker 1: at two U fifty years and five hundred years, but 193 00:09:56,440 --> 00:09:59,199 Speaker 1: but we're looking at eighty years. Some of it is 194 00:09:59,240 --> 00:10:01,520 Speaker 1: based off of a book called The Fourth Turning, which 195 00:10:01,520 --> 00:10:05,240 Speaker 1: talks about four twenty year cycles, um, and then some 196 00:10:05,280 --> 00:10:06,880 Speaker 1: of it is just some other stuff that we have. 197 00:10:07,240 --> 00:10:09,199 Speaker 1: But UM Brandon, before the break, I was telling you 198 00:10:09,240 --> 00:10:12,199 Speaker 1: I was talking to this other a macro investor yesterday, UM, 199 00:10:12,280 --> 00:10:15,120 Speaker 1: Chris Martinson, and he was talking about how he thinks 200 00:10:15,200 --> 00:10:18,160 Speaker 1: the world is going into a blowoff top and so 201 00:10:18,280 --> 00:10:20,559 Speaker 1: in in in financial markets, a blow off top is 202 00:10:20,600 --> 00:10:22,920 Speaker 1: when you start going to this parabolic phase. And what 203 00:10:23,000 --> 00:10:27,120 Speaker 1: happens is humans were very basic. We're motivated by two things. 204 00:10:27,240 --> 00:10:29,679 Speaker 1: We want to rush towards pleasure and run from pain. 205 00:10:30,000 --> 00:10:32,760 Speaker 1: And so when the prices of things start going higher, higher, higher, 206 00:10:32,880 --> 00:10:35,520 Speaker 1: it starts sucking everybody in. They want pleasure and they 207 00:10:35,559 --> 00:10:37,720 Speaker 1: bye bye bye bye bye, which then only pushes things 208 00:10:37,760 --> 00:10:39,920 Speaker 1: up even higher. And then when it blows off, then 209 00:10:40,000 --> 00:10:42,120 Speaker 1: people want to run from pain, so they cell Celles 210 00:10:42,120 --> 00:10:44,520 Speaker 1: cell And what he was saying is he thinks the 211 00:10:44,520 --> 00:10:48,439 Speaker 1: world is heading into a blow off top of socialism. 212 00:10:48,480 --> 00:10:50,840 Speaker 1: And so you had just said that we're starting to 213 00:10:50,880 --> 00:10:53,960 Speaker 1: push more and more stuff onto the state and that's 214 00:10:54,000 --> 00:10:56,719 Speaker 1: basically the same thing he said. And so you think 215 00:10:56,800 --> 00:11:00,920 Speaker 1: about socialism dying, Um, you know maybe with the fall 216 00:11:00,960 --> 00:11:03,360 Speaker 1: of the Berlin Wall in Russia, etcetera. But it but 217 00:11:03,400 --> 00:11:06,120 Speaker 1: it didn't. And really, you know, even in the United States, 218 00:11:06,160 --> 00:11:12,360 Speaker 1: we've seen it really increase since, not decreased. And he 219 00:11:12,440 --> 00:11:14,320 Speaker 1: kind of made the same point that we're continuing to 220 00:11:14,320 --> 00:11:15,800 Speaker 1: put more and more stuff on the state. So like, 221 00:11:15,800 --> 00:11:17,440 Speaker 1: I don't want to deal with my healthcare, you just 222 00:11:17,480 --> 00:11:19,360 Speaker 1: handle healthcare. I don't want to day with my kids, 223 00:11:19,360 --> 00:11:22,320 Speaker 1: you just handle education, right and and all throughout the 224 00:11:22,320 --> 00:11:27,000 Speaker 1: world we've done that, and that's socialism, um. And the 225 00:11:27,120 --> 00:11:30,040 Speaker 1: nanny state has grown and it's starting to just suck 226 00:11:30,080 --> 00:11:32,679 Speaker 1: in everything. And he said, I think it's going up. 227 00:11:32,679 --> 00:11:35,000 Speaker 1: It's sucking everything, and we're in this parabala and then 228 00:11:35,000 --> 00:11:37,480 Speaker 1: we're gonna have this socialism blow off top. Does that 229 00:11:37,520 --> 00:11:41,000 Speaker 1: sound like maybe it makes some sense? Yeah, I hate 230 00:11:41,000 --> 00:11:44,200 Speaker 1: to say that. That does sound like it does make sense. Um. 231 00:11:44,240 --> 00:11:46,880 Speaker 1: I think that would be again a huge mistake. And 232 00:11:47,000 --> 00:11:50,040 Speaker 1: it might feel nice in the short term for individuals 233 00:11:50,040 --> 00:11:54,720 Speaker 1: to give up autonomy or our agency to the state. Um. However, 234 00:11:54,800 --> 00:11:57,160 Speaker 1: it brings back that problem again, which is that the 235 00:11:57,200 --> 00:12:00,440 Speaker 1: world is more complex than we think. And it certainly 236 00:12:00,440 --> 00:12:03,560 Speaker 1: more complex than a group of central planners. No matter 237 00:12:03,640 --> 00:12:06,280 Speaker 1: how many equations they have, no matter how much data 238 00:12:06,320 --> 00:12:09,960 Speaker 1: they think they can collect, the reality is civilization is 239 00:12:10,000 --> 00:12:13,440 Speaker 1: far more complex, and so UM. I would like to 240 00:12:13,480 --> 00:12:17,080 Speaker 1: see a world where we rebuild with market based economies, 241 00:12:17,080 --> 00:12:19,760 Speaker 1: which have proven to be more successful. UM. But what 242 00:12:19,800 --> 00:12:23,240 Speaker 1: I what I attribute this resurgence to is one economic 243 00:12:23,280 --> 00:12:26,400 Speaker 1: inequality is at a I think it's about an eighty 244 00:12:26,480 --> 00:12:29,680 Speaker 1: year high for that as well. And in that type 245 00:12:29,679 --> 00:12:32,480 Speaker 1: of situation, people do get desperate and they do look 246 00:12:32,480 --> 00:12:35,800 Speaker 1: for someone to bail them out. UM. However, that that's 247 00:12:35,840 --> 00:12:38,320 Speaker 1: not the way forward. I just can't. I just can't 248 00:12:38,320 --> 00:12:40,520 Speaker 1: handle that sort of a future. And I think what 249 00:12:40,559 --> 00:12:43,800 Speaker 1: the state wants to do here is use better technology 250 00:12:44,280 --> 00:12:48,760 Speaker 1: to upgrade the state's capacity. And so we're seeing um 251 00:12:49,120 --> 00:12:52,120 Speaker 1: mass surveillance, both on the social layer but also on 252 00:12:52,200 --> 00:12:54,520 Speaker 1: the financial layer. And I think most people just sort 253 00:12:54,559 --> 00:12:58,280 Speaker 1: of accept that everything that they do is being spied on, UM, 254 00:12:58,280 --> 00:13:00,720 Speaker 1: which is a little bit scary. But the state assumes 255 00:13:00,760 --> 00:13:03,400 Speaker 1: they can just spy on everything and then make better 256 00:13:03,440 --> 00:13:06,960 Speaker 1: decisions on our behalf. And I don't think that that's 257 00:13:07,040 --> 00:13:09,400 Speaker 1: morally right. I think I would rather be in charge 258 00:13:09,440 --> 00:13:12,319 Speaker 1: of my own life. Um. And simultaneously, it's just not 259 00:13:12,480 --> 00:13:15,319 Speaker 1: it's just not practically the best way to make decisions 260 00:13:15,320 --> 00:13:18,240 Speaker 1: because again, you can't make decisions from a central point. 261 00:13:18,559 --> 00:13:22,400 Speaker 1: Too much data, the world's too complex. Yeah, today I 262 00:13:22,440 --> 00:13:27,160 Speaker 1: saw Russia, the Bank of Russia, so that it's not official, 263 00:13:27,160 --> 00:13:30,760 Speaker 1: but the Bank of Russia calls for full ban on crypto. 264 00:13:31,040 --> 00:13:34,520 Speaker 1: Russia central Bank suggests making crypto trading, mining, and usage illegal. 265 00:13:36,120 --> 00:13:38,720 Speaker 1: Owning crypto would be allowed, so you can own it, 266 00:13:38,760 --> 00:13:40,960 Speaker 1: but you can't trade it or minded or use it. 267 00:13:41,320 --> 00:13:44,120 Speaker 1: I don't get that part. But but they said here, 268 00:13:44,160 --> 00:13:48,319 Speaker 1: I love this part right here. Um, by offering an 269 00:13:48,320 --> 00:13:50,640 Speaker 1: outlet for people to take their money out of the 270 00:13:50,720 --> 00:13:55,360 Speaker 1: national economy, they risk undermining it and making the regulator's 271 00:13:55,480 --> 00:14:03,160 Speaker 1: job of maintaining optimal monetary policies order. So by offering 272 00:14:03,200 --> 00:14:05,439 Speaker 1: an outlet, if if there's an anilet of people take 273 00:14:05,440 --> 00:14:07,559 Speaker 1: their money out, they risk undermine it and make the 274 00:14:08,000 --> 00:14:12,080 Speaker 1: regular job of maintaining this control the central planning maintain 275 00:14:12,160 --> 00:14:17,520 Speaker 1: optimal monetary policies harder. But but what's optimal, right? Optimal 276 00:14:17,559 --> 00:14:20,160 Speaker 1: for me isn't optimal for you, And that kind of 277 00:14:20,200 --> 00:14:23,640 Speaker 1: goes back to this central planner, like, how does somebody 278 00:14:23,680 --> 00:14:26,880 Speaker 1: in Washington know what's best for me in southern California? 279 00:14:27,640 --> 00:14:31,120 Speaker 1: How does one person know what's best for million people 280 00:14:31,120 --> 00:14:33,840 Speaker 1: in the United States or you know whatever? Um, and 281 00:14:33,920 --> 00:14:36,560 Speaker 1: this is this is in Russia obviously, but I think 282 00:14:36,600 --> 00:14:39,000 Speaker 1: that kind of goes to your point, like these central planners, 283 00:14:39,640 --> 00:14:42,480 Speaker 1: how do they know what's best for everybody? And and 284 00:14:42,800 --> 00:14:47,000 Speaker 1: is there one single best for everybody? These are good questions, 285 00:14:47,040 --> 00:14:50,280 Speaker 1: and um, you know my answer already. Of course they 286 00:14:50,280 --> 00:14:53,400 Speaker 1: can't know what's best for everyone, even though they'll pretend 287 00:14:53,440 --> 00:14:55,880 Speaker 1: to be the moral voice in the room. And of 288 00:14:55,920 --> 00:15:00,160 Speaker 1: course they make they make their They essentially build up 289 00:15:00,160 --> 00:15:03,400 Speaker 1: the problem upon which they're willing to solve or they're 290 00:15:03,440 --> 00:15:06,240 Speaker 1: the only ones capable of solving it. But the reality 291 00:15:06,320 --> 00:15:09,640 Speaker 1: is the solution a k A. State intervention in markets. 292 00:15:09,680 --> 00:15:14,400 Speaker 1: That solution actually is the problem, because by intervening with 293 00:15:14,520 --> 00:15:19,360 Speaker 1: free market activity, you create all these unintended consequences. And 294 00:15:19,400 --> 00:15:23,720 Speaker 1: so um, not surprising coming from Russia, Um, not surprising 295 00:15:23,760 --> 00:15:28,680 Speaker 1: coming from China. Right. Bitcoin is a freedom enabling technology. 296 00:15:28,760 --> 00:15:32,160 Speaker 1: It empowers the individual at the expense of the state 297 00:15:32,320 --> 00:15:35,680 Speaker 1: or any power structure who wants to coerce the individual. 298 00:15:36,120 --> 00:15:38,680 Speaker 1: And so I like to say that bitcoin is incongruent 299 00:15:38,920 --> 00:15:42,640 Speaker 1: with authoritarianism. And so it's not surprising that we see 300 00:15:42,680 --> 00:15:47,840 Speaker 1: these autocratic states push bitcoin out. Why because it undermines 301 00:15:47,880 --> 00:15:51,600 Speaker 1: the central planners and so, um, what I see here 302 00:15:51,640 --> 00:15:55,160 Speaker 1: as an opportunity is as China and Russia start to 303 00:15:55,200 --> 00:15:59,400 Speaker 1: push out this this freedom technology, this is an opportunity 304 00:15:59,400 --> 00:16:02,800 Speaker 1: for the u US to embrace this technology. China and 305 00:16:02,840 --> 00:16:07,040 Speaker 1: Russia are obviously are diametrically opposed global enemies to use 306 00:16:07,040 --> 00:16:10,280 Speaker 1: some colorful language, but if that is true, this is 307 00:16:10,320 --> 00:16:14,600 Speaker 1: our turn to lean in because bitcoin is fundamentally of 308 00:16:14,640 --> 00:16:21,080 Speaker 1: American values. Bitcoin accepts the centralization of powered, empowers the individual. Um, 309 00:16:21,120 --> 00:16:24,240 Speaker 1: it is a freedom based technology. That's what made America 310 00:16:24,600 --> 00:16:27,120 Speaker 1: a strong country, and that that's why America is still 311 00:16:27,120 --> 00:16:31,600 Speaker 1: a strong country after several hundred years today. Yeah yeah, 312 00:16:31,600 --> 00:16:34,200 Speaker 1: I mean, without playing deep into the politics side, I 313 00:16:34,200 --> 00:16:36,240 Speaker 1: mean to your point, right, I mean, you said Russia 314 00:16:36,240 --> 00:16:40,040 Speaker 1: and China are kind of diametrically opposed, but like the 315 00:16:40,160 --> 00:16:42,880 Speaker 1: US is even more so. So it's kind of like 316 00:16:42,920 --> 00:16:44,760 Speaker 1: this enemy of my enemy is my friend. Kind of 317 00:16:44,800 --> 00:16:49,000 Speaker 1: a thing, and you know, uh, maybe there you see 318 00:16:49,040 --> 00:16:50,560 Speaker 1: a lot of China and Russia doing a lot of 319 00:16:50,560 --> 00:16:52,360 Speaker 1: the same things until we'rekin on the opposite side. And 320 00:16:52,360 --> 00:16:55,680 Speaker 1: I would hope I would like to see that the 321 00:16:55,760 --> 00:16:58,400 Speaker 1: US would go, we'll shoot and and maybe with this 322 00:16:58,480 --> 00:17:01,040 Speaker 1: kind of Cold war re escalating kind of a thing 323 00:17:01,080 --> 00:17:03,640 Speaker 1: with Ukraine, they would the US would be like, well, shoot, 324 00:17:03,920 --> 00:17:06,159 Speaker 1: tensions are high with China and Russia right now, so 325 00:17:06,200 --> 00:17:08,600 Speaker 1: we should take the opposite side of the bet. If 326 00:17:08,640 --> 00:17:12,239 Speaker 1: they want to push bitcoin out, we should you know, 327 00:17:12,560 --> 00:17:15,439 Speaker 1: use it. And we have this huge economic advantage to 328 00:17:15,440 --> 00:17:17,560 Speaker 1: do so. We've taken over the big majority of the 329 00:17:17,600 --> 00:17:20,520 Speaker 1: mining because bitcoin. China shot themselves in the foot with that. 330 00:17:21,720 --> 00:17:23,880 Speaker 1: But unfortunately I'm seeing that may not be the case. 331 00:17:23,920 --> 00:17:27,280 Speaker 1: And so today, at the time of this recording, UM 332 00:17:27,320 --> 00:17:30,639 Speaker 1: there was also a big conversation going on um in 333 00:17:31,320 --> 00:17:34,720 Speaker 1: among all the lawmakers in the United States talking about 334 00:17:34,760 --> 00:17:37,639 Speaker 1: what they should do in regards to proof of work 335 00:17:37,840 --> 00:17:42,440 Speaker 1: versus proof of steak. Should they do something about that? 336 00:17:42,480 --> 00:17:46,280 Speaker 1: Brian Brooks, formerly of of a coin Base and then 337 00:17:46,320 --> 00:17:48,240 Speaker 1: of the o c C. He said, quote, it's not 338 00:17:48,320 --> 00:17:50,359 Speaker 1: up to the government to decide if bitcoin is important 339 00:17:50,359 --> 00:17:53,800 Speaker 1: to the country's future. That's the market end quote. But 340 00:17:53,880 --> 00:17:55,240 Speaker 1: that's not what they think. I want to dig in 341 00:17:55,320 --> 00:17:57,440 Speaker 1: more to that when we come back. I mean the 342 00:17:57,480 --> 00:18:02,000 Speaker 1: studio we're talking about bitcoin and decentral cryptocurrency. We're talking 343 00:18:02,040 --> 00:18:04,960 Speaker 1: about the Bitcoin revolution. I'm innistry with Brandon Quidum. We're 344 00:18:04,960 --> 00:18:07,480 Speaker 1: gonna come back and talk more about what's going on 345 00:18:07,520 --> 00:18:10,320 Speaker 1: in this cycle and what they're talking about today. Don't 346 00:18:10,359 --> 00:18:12,440 Speaker 1: miss it, don't go away, all right, welcome back. You're 347 00:18:12,480 --> 00:18:15,000 Speaker 1: listening to the Mark Moa Show, and we're talking about bitcoin. 348 00:18:15,359 --> 00:18:19,520 Speaker 1: We're talking about the decentralized revolution, and uh, today we're 349 00:18:19,520 --> 00:18:22,159 Speaker 1: talking a little bit more specifically. Um. I got Brandon 350 00:18:22,200 --> 00:18:24,359 Speaker 1: Quitum in the studio with me, and we're talking about 351 00:18:24,760 --> 00:18:27,080 Speaker 1: kind of this eighty year lens kind of zooming out, 352 00:18:27,080 --> 00:18:29,120 Speaker 1: trying to get a little clarity how what we're seeing 353 00:18:29,119 --> 00:18:32,160 Speaker 1: in the world today isn't random, it's actually repeated, repeated 354 00:18:32,200 --> 00:18:35,240 Speaker 1: throughout history. I mean, we're talking about kind of where 355 00:18:35,280 --> 00:18:37,760 Speaker 1: some of this fits into bitcoin today, and we're just 356 00:18:37,800 --> 00:18:40,800 Speaker 1: talking about how you see countries like China and Russia 357 00:18:40,960 --> 00:18:43,560 Speaker 1: really trying to get uh, you know, push bitcoin out 358 00:18:43,560 --> 00:18:46,480 Speaker 1: because it's opposite of what they want, which is freedom. 359 00:18:46,840 --> 00:18:49,000 Speaker 1: They want to essentially plan a control app in the 360 00:18:49,080 --> 00:18:52,520 Speaker 1: United States. Is the land of the free the United States. 361 00:18:52,520 --> 00:18:54,160 Speaker 1: I grew up in anyway with the land of the free. 362 00:18:54,600 --> 00:18:57,280 Speaker 1: UM and and I was reading a quote here. So today, 363 00:18:57,359 --> 00:19:00,480 Speaker 1: at the time of this recording, we had lawmakers talking 364 00:19:00,520 --> 00:19:04,200 Speaker 1: about bitcoin and mining and cryptocurrencies and proof of work 365 00:19:04,280 --> 00:19:08,159 Speaker 1: versus proof ofstaken and UH CEO Brian Brooks bit furious 366 00:19:08,160 --> 00:19:10,119 Speaker 1: CEO said it's not up to the government to decide 367 00:19:10,119 --> 00:19:13,720 Speaker 1: if bitcoin is important to the country's future. That's the markets, 368 00:19:14,320 --> 00:19:18,119 Speaker 1: that's what he's saying. But we're kind of seeing the opposite. Um. 369 00:19:18,160 --> 00:19:22,000 Speaker 1: Of course, good old Senator Elizabeth Warren, everybody's a favorite 370 00:19:22,040 --> 00:19:26,480 Speaker 1: champion of the free markets. She said, quote the extraordinarily 371 00:19:26,640 --> 00:19:30,040 Speaker 1: high energy usage and carbon emissions associated with bitcoin mining 372 00:19:30,359 --> 00:19:32,800 Speaker 1: could undo much of our work to tackle the climate, 373 00:19:33,320 --> 00:19:36,280 Speaker 1: not to mention the harmful impacts of crypto mining has 374 00:19:36,280 --> 00:19:39,560 Speaker 1: on local governments and electricity prices. And here's the best part. 375 00:19:40,080 --> 00:19:42,840 Speaker 1: It's time for Congress and federal regulators to step up 376 00:19:42,840 --> 00:19:46,760 Speaker 1: and address the serious risk that crypto poses to our 377 00:19:46,800 --> 00:19:52,119 Speaker 1: economy and our environment. So that part she's been saying 378 00:19:52,119 --> 00:19:53,359 Speaker 1: this on and on, this is not the first time 379 00:19:53,400 --> 00:19:58,359 Speaker 1: she said this the risk that cryptocurrency poses to our economy. Again, 380 00:19:59,119 --> 00:20:02,639 Speaker 1: if people same thing that Russia said, if people have 381 00:20:02,720 --> 00:20:08,600 Speaker 1: an outlet, it undermines our ability to manage the optimal economy. 382 00:20:08,720 --> 00:20:11,200 Speaker 1: She's basically saying the same thing that Russia saying. It 383 00:20:11,320 --> 00:20:14,720 Speaker 1: sounds like to me, I don't know, what do you think? Yeah, Unfortunately, 384 00:20:14,760 --> 00:20:18,760 Speaker 1: it's not surprising comments coming from Elizabeth Warren. Um. What 385 00:20:19,119 --> 00:20:22,440 Speaker 1: really frustrates me here is that she claims to be 386 00:20:22,600 --> 00:20:25,800 Speaker 1: one of the people, and she always fights for individual 387 00:20:25,920 --> 00:20:30,080 Speaker 1: rights and individual financial freedoms especially, and she's very anti banks. 388 00:20:31,080 --> 00:20:33,239 Speaker 1: When she fight for the individual's rights, or does she 389 00:20:33,600 --> 00:20:36,879 Speaker 1: fight for a collective group of less empowered people. I 390 00:20:36,880 --> 00:20:38,840 Speaker 1: think that's maybe a difference, right, She's trying to lump 391 00:20:38,840 --> 00:20:43,440 Speaker 1: all everyone like kind of like kind of like Marxism 392 00:20:43,560 --> 00:20:46,720 Speaker 1: lumps the proletarians and the bourgeoisie together. So it's almost like, 393 00:20:46,760 --> 00:20:48,320 Speaker 1: I don't know if she's fine for the individual or 394 00:20:48,320 --> 00:20:52,040 Speaker 1: the collective group of these disempowered groups. Maybe Yeah, I 395 00:20:52,040 --> 00:20:54,640 Speaker 1: think I think you're right, that is more accurate. Um. 396 00:20:54,680 --> 00:20:56,520 Speaker 1: I guess the point I was trying to make is 397 00:20:56,640 --> 00:21:00,159 Speaker 1: her what she wants to be perceived as is in 398 00:21:00,320 --> 00:21:04,440 Speaker 1: anti banks. And yet what she's arguing here is that 399 00:21:04,800 --> 00:21:08,480 Speaker 1: individuals should not be able to be their own bank, 400 00:21:08,600 --> 00:21:11,880 Speaker 1: as it were, by owning bitcoin. She's arguing that the 401 00:21:11,920 --> 00:21:15,959 Speaker 1: existing financial system should be in charge of all economic 402 00:21:16,080 --> 00:21:18,879 Speaker 1: issues in the US. And to me, that sounds a 403 00:21:18,960 --> 00:21:22,359 Speaker 1: lot like empowering the existing system, which doesn't seem to 404 00:21:22,400 --> 00:21:25,399 Speaker 1: be working for quite a few individuals, and so I 405 00:21:25,480 --> 00:21:28,600 Speaker 1: find that to be extremely um, a lot of hypocrisy, 406 00:21:28,640 --> 00:21:33,040 Speaker 1: will say in her in your comments there, Yeah, so um, 407 00:21:33,080 --> 00:21:35,159 Speaker 1: you had said in when you first opened up, you 408 00:21:35,200 --> 00:21:37,520 Speaker 1: were saying that like these institutions, we've seen the rise 409 00:21:37,640 --> 00:21:40,840 Speaker 1: or the growth of these institutions, you know, the continuing centralization, 410 00:21:40,880 --> 00:21:43,720 Speaker 1: the continuing growth of these things getting bigger. And then 411 00:21:43,720 --> 00:21:46,400 Speaker 1: you had said that if they're not working for people anymore, 412 00:21:47,440 --> 00:21:49,639 Speaker 1: and so there's a loss of trust in these institutions 413 00:21:49,640 --> 00:21:52,040 Speaker 1: because they're not working for us anymore. And so if 414 00:21:52,080 --> 00:21:54,159 Speaker 1: we kind of go back to that in light of 415 00:21:54,160 --> 00:21:58,200 Speaker 1: what we talked about, right, um, where we have politicians 416 00:21:58,240 --> 00:22:00,400 Speaker 1: like Elizabeth Warren trying to kind of grow o these 417 00:22:00,400 --> 00:22:03,240 Speaker 1: institutions even bigger, to take more power away, but we're 418 00:22:03,280 --> 00:22:06,520 Speaker 1: not trusting them. Uh, they're not working for us. And then, 419 00:22:06,960 --> 00:22:10,399 Speaker 1: in light of this eighty year cycle, where do you 420 00:22:10,440 --> 00:22:13,120 Speaker 1: think things go from here? Or or maybe better yet, 421 00:22:13,119 --> 00:22:15,880 Speaker 1: where does history tell us things go from here? Yeah, 422 00:22:15,880 --> 00:22:18,320 Speaker 1: that's a good question, And this is the most common 423 00:22:18,400 --> 00:22:21,439 Speaker 1: question I get when discussing the fourth turning is Okay, fine, 424 00:22:21,760 --> 00:22:23,960 Speaker 1: I feel you on the thesis. But where do we go? 425 00:22:24,400 --> 00:22:27,920 Speaker 1: And history says that we're right around the late nineteen 426 00:22:28,040 --> 00:22:31,159 Speaker 1: thirties if we would look to the previous fourth turning cycle, 427 00:22:31,560 --> 00:22:33,679 Speaker 1: and so if you think about that time tail end 428 00:22:33,720 --> 00:22:37,640 Speaker 1: of the Great Depression, UM FDR new Deal, we're just trying, 429 00:22:37,720 --> 00:22:40,680 Speaker 1: we're building social security f D. I see a lot 430 00:22:40,760 --> 00:22:43,240 Speaker 1: of changes, but what we haven't had yet is the 431 00:22:43,280 --> 00:22:46,720 Speaker 1: beginning of World War Two. And historically in fourth turnings 432 00:22:46,760 --> 00:22:49,479 Speaker 1: there's always a crisis period which is sort of the 433 00:22:49,520 --> 00:22:52,600 Speaker 1: peak the crescendo of this this part of the cycle. 434 00:22:53,000 --> 00:22:54,800 Speaker 1: And it's my belief that we have not hit the 435 00:22:54,800 --> 00:22:58,359 Speaker 1: crescendo yet. And I know that probably makes people a 436 00:22:58,400 --> 00:23:00,560 Speaker 1: little bit nervous. Hey, the last for you have been 437 00:23:00,640 --> 00:23:03,280 Speaker 1: kind of scary. How could it get worse? And I 438 00:23:03,280 --> 00:23:04,960 Speaker 1: don't want to be the bearer of bad news, but 439 00:23:05,040 --> 00:23:07,440 Speaker 1: if I had to look to history, I would say 440 00:23:07,480 --> 00:23:10,080 Speaker 1: that it's going to get worse, and so what does 441 00:23:10,080 --> 00:23:13,479 Speaker 1: that mean for the individual? UM? That means prepare. It 442 00:23:13,480 --> 00:23:16,400 Speaker 1: means think about what what what your future is? Make 443 00:23:16,480 --> 00:23:20,840 Speaker 1: yourself um anti fragile right, Maybe get a second passport, 444 00:23:20,920 --> 00:23:23,520 Speaker 1: maybe own some bitcoin that no one can take from you, 445 00:23:23,720 --> 00:23:25,960 Speaker 1: and just start to think what if things got worse? 446 00:23:26,000 --> 00:23:28,880 Speaker 1: What if I lost my income? Um? Are you prepared 447 00:23:28,920 --> 00:23:32,960 Speaker 1: for volatility? And hopefully that that time never comes? But 448 00:23:33,040 --> 00:23:36,000 Speaker 1: I think it's prudent to prepare at this point. I 449 00:23:36,040 --> 00:23:39,200 Speaker 1: wonder I did Two weeks ago, I did a show 450 00:23:40,200 --> 00:23:42,240 Speaker 1: I had just go on on. We were talking about 451 00:23:42,280 --> 00:23:46,040 Speaker 1: this mass formation psychosis, which is uh got a lot 452 00:23:46,040 --> 00:23:49,320 Speaker 1: of got a press and publicitly lately since Dr Malone 453 00:23:49,320 --> 00:23:52,080 Speaker 1: was on Joe Rogan UM and I was talking about that. 454 00:23:52,160 --> 00:23:53,800 Speaker 1: I don't know, have you have you heard any of 455 00:23:53,840 --> 00:23:56,080 Speaker 1: that about the mass formation psychosis? Okay, so you've you've 456 00:23:56,119 --> 00:23:58,879 Speaker 1: heard some of that. And what was interesting and I 457 00:23:58,880 --> 00:24:03,600 Speaker 1: had actually heard was his name Dr Dmitri Uh. I 458 00:24:03,640 --> 00:24:05,160 Speaker 1: heard him talk about it like four or five months 459 00:24:05,160 --> 00:24:08,480 Speaker 1: ago on Aubrey Marcus podcast. UM. But he was talking 460 00:24:08,520 --> 00:24:11,400 Speaker 1: about how how do we how do we get into it? 461 00:24:11,880 --> 00:24:17,040 Speaker 1: Which was people are disconnected, um, which I think is 462 00:24:17,040 --> 00:24:19,840 Speaker 1: a breakdown in society, a breakdown of religion, a breakdown 463 00:24:19,840 --> 00:24:22,160 Speaker 1: a morality, a breakdown of the family unit. Right, those 464 00:24:22,200 --> 00:24:24,280 Speaker 1: things keep people connected. So you break those things. To 465 00:24:24,280 --> 00:24:26,120 Speaker 1: the point you were making earlier, you break those things down. 466 00:24:26,119 --> 00:24:29,880 Speaker 1: People are disconnected. Um. Each one is like a sort 467 00:24:29,920 --> 00:24:34,320 Speaker 1: of downstream. Then you have no, um, no sense of purpose. 468 00:24:34,400 --> 00:24:36,320 Speaker 1: So if you're not connected, there's no sense of purpose 469 00:24:36,520 --> 00:24:38,679 Speaker 1: that that makes sense. And then they have this this 470 00:24:38,960 --> 00:24:42,520 Speaker 1: uh untethered anxiety. And then somebody comes along and says, 471 00:24:42,640 --> 00:24:44,520 Speaker 1: this is the reason why I come with me. But 472 00:24:44,640 --> 00:24:48,040 Speaker 1: more importantly I was thinking, um. He then said, the 473 00:24:48,119 --> 00:24:49,879 Speaker 1: solution to come out of that is then we need 474 00:24:49,920 --> 00:24:52,760 Speaker 1: to bring people. We need to connect people again. Um. 475 00:24:52,800 --> 00:24:55,960 Speaker 1: If we connect people again, um, and then we want 476 00:24:56,040 --> 00:24:59,240 Speaker 1: to show them a better way. We can't say no, no, no, 477 00:24:59,320 --> 00:25:01,240 Speaker 1: don't go over there, stay where you're at, because they're 478 00:25:01,240 --> 00:25:04,200 Speaker 1: not happy with where they're at. We need to show 479 00:25:04,240 --> 00:25:06,480 Speaker 1: them no, don't go that way, actually go this way. 480 00:25:06,520 --> 00:25:10,640 Speaker 1: This is a better way. UM. And so I thought 481 00:25:10,680 --> 00:25:12,840 Speaker 1: that was really cool. It made me think about bitcoin, 482 00:25:12,920 --> 00:25:15,719 Speaker 1: because this the central bank that the money printer has 483 00:25:15,760 --> 00:25:18,480 Speaker 1: distorted all these areas of life that they're unhappy with, 484 00:25:18,960 --> 00:25:20,560 Speaker 1: and if we can take them to a new sound 485 00:25:20,560 --> 00:25:22,680 Speaker 1: money system, maybe that's somewhere that they want to go. 486 00:25:23,320 --> 00:25:25,880 Speaker 1: But I'm curious how that may or may not fit 487 00:25:25,920 --> 00:25:27,560 Speaker 1: into this fourth turning where you kind of have this 488 00:25:27,680 --> 00:25:30,800 Speaker 1: fourth generation where they want to kind of recreate a 489 00:25:30,880 --> 00:25:34,879 Speaker 1: new world. Does that fit in somehow? Yeah, I do 490 00:25:34,960 --> 00:25:37,359 Speaker 1: think it does. And just to touch on the mass 491 00:25:37,359 --> 00:25:40,120 Speaker 1: formation psychosis really quickly, and then I'll connect it back 492 00:25:40,160 --> 00:25:45,399 Speaker 1: to the bigger question you post two minutes. If we're going, yeah, okay, 493 00:25:45,600 --> 00:25:47,760 Speaker 1: if we're gonna um, if we're going to get people 494 00:25:47,800 --> 00:25:50,040 Speaker 1: out of this, assuming there is some sort of mass 495 00:25:50,119 --> 00:25:54,919 Speaker 1: formation psychosis, turn off the news, find real friends locally, right, 496 00:25:55,080 --> 00:25:59,040 Speaker 1: adopt bitcoin, just totally diverge yourself and and find other 497 00:25:59,040 --> 00:26:01,119 Speaker 1: friends who are willing to do such a thing. And 498 00:26:01,160 --> 00:26:03,000 Speaker 1: if we tie it back to the big picture here, 499 00:26:03,040 --> 00:26:06,479 Speaker 1: I think what bitcoin represents right now actually is the 500 00:26:06,560 --> 00:26:11,639 Speaker 1: solution to our our Frain institutions, because bitcoin itself actually 501 00:26:11,720 --> 00:26:15,000 Speaker 1: serves as an institution. It is sort of like a 502 00:26:15,000 --> 00:26:18,960 Speaker 1: a property rights government, judge, jury executioner all in one, 503 00:26:19,480 --> 00:26:23,639 Speaker 1: and so it provides the order that society needs today. 504 00:26:23,880 --> 00:26:25,960 Speaker 1: And so I think this both fits in at the 505 00:26:26,000 --> 00:26:28,320 Speaker 1: long term death cycle, right, we need to redo the 506 00:26:28,359 --> 00:26:31,440 Speaker 1: financial system. Okay, here's this bitcoin thing. And also it 507 00:26:31,520 --> 00:26:34,920 Speaker 1: serves the social need where people are crying out for order. 508 00:26:34,960 --> 00:26:37,159 Speaker 1: We're crying out for that one leader to give us 509 00:26:37,160 --> 00:26:40,080 Speaker 1: that one solution. And it's my belief that bitcoin is 510 00:26:40,119 --> 00:26:43,200 Speaker 1: best for the individual and also best for our planet 511 00:26:43,240 --> 00:26:46,040 Speaker 1: as we go through this major transition at the end 512 00:26:46,040 --> 00:26:51,359 Speaker 1: of another fourth turning. Yeah, it's just interesting. I know, 513 00:26:51,560 --> 00:26:53,919 Speaker 1: you know, each one of these cycles is different. And 514 00:26:53,920 --> 00:26:56,800 Speaker 1: the fourth turning it's popularized, was the you know, hard times, 515 00:26:56,840 --> 00:26:59,560 Speaker 1: great strong man, strong man, great great times, great times, 516 00:26:59,640 --> 00:27:02,000 Speaker 1: week and week been bad times. I think about it 517 00:27:02,000 --> 00:27:04,960 Speaker 1: like an eighty year cycle. You look at um Germany 518 00:27:05,040 --> 00:27:07,400 Speaker 1: coming out of World War two. Country was destroyed, worse, 519 00:27:07,480 --> 00:27:10,159 Speaker 1: hyper inflation. Ever, the people had to rebuild their country 520 00:27:10,160 --> 00:27:13,719 Speaker 1: from their bare hands. Hard times created strong men. Germany 521 00:27:13,760 --> 00:27:16,320 Speaker 1: became the economic powerhouse of all of Europe. I mean, 522 00:27:16,359 --> 00:27:18,680 Speaker 1: they've been the economic engine of Europe and here we 523 00:27:18,720 --> 00:27:21,080 Speaker 1: are eighty years later. They only worked twenty eight hour weeks, 524 00:27:21,080 --> 00:27:22,880 Speaker 1: their taxes are the highest, and the nation they've shut 525 00:27:22,920 --> 00:27:25,960 Speaker 1: down all their energy and they're having extremely hard times 526 00:27:26,040 --> 00:27:29,280 Speaker 1: right now, just eighty years later, which is amazing. Um, 527 00:27:29,320 --> 00:27:31,440 Speaker 1: you're listening to the Markma Show. We're talking about bitcoin 528 00:27:31,840 --> 00:27:33,560 Speaker 1: from a long lens of history. I'm in the studio 529 00:27:33,600 --> 00:27:37,320 Speaker 1: with Brandon quithum Um from Swan Bitcoin talking about kind 530 00:27:37,320 --> 00:27:40,000 Speaker 1: of this fourth turning and how bitcoin fits into it. Uh, 531 00:27:40,200 --> 00:27:42,679 Speaker 1: don't go away back with more, everyone, welcome back. You 532 00:27:42,680 --> 00:27:45,760 Speaker 1: are listening to the Markma Show and we're discussing bitcoin 533 00:27:45,920 --> 00:27:49,119 Speaker 1: each and every week, of course, and this decentralized revolution 534 00:27:49,560 --> 00:27:51,880 Speaker 1: that's going on and there's so many ways to look 535 00:27:51,920 --> 00:27:54,560 Speaker 1: at this and one thing that I always loved and 536 00:27:54,600 --> 00:27:56,439 Speaker 1: if you if you've been watching my YouTube channel for 537 00:27:56,480 --> 00:27:58,480 Speaker 1: a long time, then you know I love to bring 538 00:27:58,680 --> 00:28:02,600 Speaker 1: history in the one subject that I liked in school. Um. 539 00:28:02,680 --> 00:28:04,680 Speaker 1: And if you're not watching my YouTube channel then you should, 540 00:28:04,760 --> 00:28:07,000 Speaker 1: so just check me out Mark Moss on YouTube. But 541 00:28:07,359 --> 00:28:09,359 Speaker 1: we're talking. I'm in the studio with Brandon quit Um 542 00:28:09,400 --> 00:28:11,480 Speaker 1: from Swan Bitcoin. You can find him at b quit 543 00:28:11,560 --> 00:28:14,239 Speaker 1: Um on Twitter, and we're kind of talking about this 544 00:28:14,440 --> 00:28:18,639 Speaker 1: uh eighty year cycle, this fourth turning generational theory kind 545 00:28:18,680 --> 00:28:22,560 Speaker 1: of thing and how it fits into bitcoin and we're 546 00:28:22,720 --> 00:28:26,200 Speaker 1: just kind of talking about this uh, mass formation psychosis. 547 00:28:26,280 --> 00:28:30,119 Speaker 1: That's and how that maybe fits in. Um. You know 548 00:28:30,560 --> 00:28:33,520 Speaker 1: one thing, Brandon is uh, you'd you'd said, you know, 549 00:28:33,640 --> 00:28:35,960 Speaker 1: the one question everybody wants to ask is like what 550 00:28:36,119 --> 00:28:38,000 Speaker 1: comes next? And you said, well, maybe if we go 551 00:28:38,000 --> 00:28:43,040 Speaker 1: back to UM, we kind of see that. Um. I 552 00:28:43,080 --> 00:28:44,920 Speaker 1: was kind of looking at UM and I know this 553 00:28:44,960 --> 00:28:47,200 Speaker 1: isn't something that you've maybe studied a lot, but if 554 00:28:47,240 --> 00:28:50,000 Speaker 1: you zoom out, well, in the eighty year cycle, there's 555 00:28:50,000 --> 00:28:52,800 Speaker 1: also what's known as like a pendulum. And there's a 556 00:28:52,800 --> 00:28:56,120 Speaker 1: book actually written called the Pendulum, and every eighty years 557 00:28:56,240 --> 00:29:00,360 Speaker 1: goes between a me and a we cycle, so me 558 00:29:00,480 --> 00:29:03,880 Speaker 1: being individualism and we being collectivism, and so it kind 559 00:29:03,880 --> 00:29:07,800 Speaker 1: of swings back and forth over an eighty year cycle. 560 00:29:08,080 --> 00:29:13,280 Speaker 1: And UM, right now we're peeking out at centralization. That's 561 00:29:13,280 --> 00:29:16,600 Speaker 1: where the pendulum is maxing out at. And the pendulum 562 00:29:16,720 --> 00:29:19,120 Speaker 1: is going to swing back per you know this theory 563 00:29:19,440 --> 00:29:21,400 Speaker 1: which they've been able to trace it back for thousands 564 00:29:21,440 --> 00:29:26,160 Speaker 1: of years, UM, at least a thousand years maybe UM, 565 00:29:26,360 --> 00:29:30,480 Speaker 1: And uh, we're you know, the peak centralization is maxing out, 566 00:29:30,480 --> 00:29:35,640 Speaker 1: will swing back to decentralization. So maybe I guess that's 567 00:29:35,640 --> 00:29:38,800 Speaker 1: the direction that we go what's interesting is if you 568 00:29:38,840 --> 00:29:42,240 Speaker 1: look at like a K wave chundurative wave theory, or 569 00:29:42,440 --> 00:29:44,640 Speaker 1: you know, technological revolutions, they happen on in between a 570 00:29:44,720 --> 00:29:48,720 Speaker 1: forty to sixty year time frame, about fifty years UM 571 00:29:48,840 --> 00:29:51,400 Speaker 1: and so at a time when the world is maxing 572 00:29:51,400 --> 00:29:54,080 Speaker 1: out on centralization and it's about to start swinging back 573 00:29:54,080 --> 00:29:57,920 Speaker 1: to decentralization, we have a technological revolution, a K wave 574 00:29:58,000 --> 00:30:01,120 Speaker 1: that's starting with a new technology, the Bitcoin, that gives 575 00:30:01,200 --> 00:30:05,080 Speaker 1: us exactly what we need, which is decentralization. Is pretty interesting. Yeah, 576 00:30:05,080 --> 00:30:06,800 Speaker 1: I think the way have a lot of good points there, 577 00:30:06,880 --> 00:30:10,160 Speaker 1: and I think there's some really nice parallels starting to 578 00:30:10,280 --> 00:30:13,200 Speaker 1: form as we move from a centralized world to a 579 00:30:13,280 --> 00:30:17,000 Speaker 1: primarily decentralized world. And you mentioned that the tech cycle 580 00:30:17,120 --> 00:30:19,720 Speaker 1: right where it's very clear that we're in the information age. 581 00:30:20,120 --> 00:30:22,480 Speaker 1: On the information age gave us the Internet, it gave 582 00:30:22,600 --> 00:30:26,240 Speaker 1: us remote work, it gave us a centralization of communication, 583 00:30:26,320 --> 00:30:29,320 Speaker 1: all these wonderful things. And I do see the very 584 00:30:29,440 --> 00:30:32,000 Speaker 1: very beginning of a new growth right in the in 585 00:30:32,040 --> 00:30:35,600 Speaker 1: the in the individual world. And so some parallels would be, um, 586 00:30:35,680 --> 00:30:40,520 Speaker 1: let's say mass media, right, the large media institutions, the CNN, 587 00:30:40,560 --> 00:30:44,440 Speaker 1: the New York times, shifting over to social media, which 588 00:30:44,480 --> 00:30:46,960 Speaker 1: now feels to be absorbed by the state into now 589 00:30:47,000 --> 00:30:50,520 Speaker 1: what we would maybe call independent media, things like Mark Moss, 590 00:30:50,920 --> 00:30:54,160 Speaker 1: things like Joe Rogan having more viewership than CNN, and 591 00:30:54,200 --> 00:30:56,400 Speaker 1: all the things combined. UM. I think we're going to 592 00:30:56,480 --> 00:31:00,960 Speaker 1: see a shift from centralized monetary systems like a dollar 593 00:31:01,200 --> 00:31:04,440 Speaker 1: or any other feed of currency, towards a decentralized monetary 594 00:31:04,480 --> 00:31:07,280 Speaker 1: system such as bitcoin. UM. I think we're starting to 595 00:31:07,280 --> 00:31:10,760 Speaker 1: see a pushback from industrial education or what we would 596 00:31:10,800 --> 00:31:15,760 Speaker 1: consider mainstream education, and we're seeing homeschool homeschooling on the rise, 597 00:31:16,080 --> 00:31:20,840 Speaker 1: growing exponentially, all these alternative online school type things. UM. 598 00:31:20,960 --> 00:31:23,480 Speaker 1: We're also seeing the death of the wage earner and 599 00:31:23,520 --> 00:31:26,600 Speaker 1: the rise of the creative economy right where young people 600 00:31:26,640 --> 00:31:29,520 Speaker 1: aren't loyal to their employers, nor should they be. Um, 601 00:31:29,760 --> 00:31:32,880 Speaker 1: it's more of an information economy where individuals go out 602 00:31:32,920 --> 00:31:35,840 Speaker 1: there and solve problems and interact with the world. And 603 00:31:35,840 --> 00:31:38,480 Speaker 1: and now all of a sudden, capital goes from physical 604 00:31:38,560 --> 00:31:43,800 Speaker 1: goods machinery into ideas. Right. Um, we also have the 605 00:31:43,880 --> 00:31:46,360 Speaker 1: nine to five where you go into the office. Now 606 00:31:46,400 --> 00:31:48,880 Speaker 1: you can work remotely, and so you sort of add 607 00:31:48,920 --> 00:31:50,720 Speaker 1: all these things up and what do you get? You 608 00:31:50,760 --> 00:31:53,840 Speaker 1: get a very different world. And I think we can 609 00:31:53,880 --> 00:31:56,520 Speaker 1: also draw a thesis from another book I know you 610 00:31:56,560 --> 00:31:58,840 Speaker 1: and I have talked about, which is a sovereign individual, 611 00:31:59,200 --> 00:32:02,960 Speaker 1: which is that as we transition into the information age, 612 00:32:03,200 --> 00:32:07,520 Speaker 1: we're going to see a separation from large nation states 613 00:32:07,560 --> 00:32:10,840 Speaker 1: into smaller ones, sort of a Balkanization. And why does 614 00:32:10,840 --> 00:32:15,320 Speaker 1: this occur? While in an information economy there's actually diseconomies 615 00:32:15,360 --> 00:32:19,240 Speaker 1: of scale where the largest um or the largest country 616 00:32:19,600 --> 00:32:21,520 Speaker 1: is the one or the most powerful country is one 617 00:32:21,520 --> 00:32:23,920 Speaker 1: of the largest military. Now it's the one with the 618 00:32:24,000 --> 00:32:27,920 Speaker 1: most creative output or the most intangible capital. And so 619 00:32:28,080 --> 00:32:30,760 Speaker 1: I see instead of maybe two or three hundred countries, 620 00:32:31,120 --> 00:32:35,200 Speaker 1: I see maybe two thousand or three thousand countries, let's say, 621 00:32:35,200 --> 00:32:37,680 Speaker 1: over the next fifty years. And that's simply due to 622 00:32:37,720 --> 00:32:41,520 Speaker 1: the fact that smaller, more nimble countries, let's say Singapore 623 00:32:41,600 --> 00:32:44,360 Speaker 1: for example, in recent times, um they actually have an 624 00:32:44,360 --> 00:32:47,160 Speaker 1: ability to take what we've learned from the previous age 625 00:32:47,480 --> 00:32:50,840 Speaker 1: and upgrade our governments into more of an information age style. 626 00:32:51,600 --> 00:32:53,680 Speaker 1: And I think that empowers the individual in all those 627 00:32:53,680 --> 00:32:57,200 Speaker 1: ways we mentioned. Very optimistic. Yeah, that's a that's a 628 00:32:57,200 --> 00:32:58,840 Speaker 1: great take. I mean if you go back two hundred 629 00:32:58,880 --> 00:33:02,400 Speaker 1: fifty years, UM, we had the start of the Industrial Revolution, 630 00:33:02,680 --> 00:33:06,440 Speaker 1: and the industrial revolution started centralizing and so um that 631 00:33:06,560 --> 00:33:08,280 Speaker 1: was the start of the factory, which was the start 632 00:33:08,320 --> 00:33:10,520 Speaker 1: of the cities, and then the giant factories and workers 633 00:33:10,560 --> 00:33:12,880 Speaker 1: and assembly lines and things like that. And so for 634 00:33:12,880 --> 00:33:14,640 Speaker 1: the last two and or fifty years we've been on 635 00:33:14,640 --> 00:33:18,880 Speaker 1: this central as centralizing scale, or or pendulum, if you will. 636 00:33:19,480 --> 00:33:22,720 Speaker 1: And now that's starting to swing back the other way, 637 00:33:22,760 --> 00:33:26,320 Speaker 1: and now it's going to start decentralizing. So the centralization 638 00:33:26,360 --> 00:33:29,640 Speaker 1: not only centralized people from the farms in the fields 639 00:33:29,680 --> 00:33:33,120 Speaker 1: into cities and factories, but it also centralized economic activity 640 00:33:33,120 --> 00:33:35,520 Speaker 1: into a country. So if you want to be successful, 641 00:33:35,680 --> 00:33:38,240 Speaker 1: you had to be in America basically, So people left 642 00:33:38,240 --> 00:33:39,760 Speaker 1: from all over the world to come to America. And 643 00:33:39,760 --> 00:33:41,320 Speaker 1: then if you want to be successful America, you had 644 00:33:41,320 --> 00:33:42,840 Speaker 1: to move to the big city because that's where the 645 00:33:42,880 --> 00:33:46,720 Speaker 1: jobs were. Um. But today, especially sped up by the pandemic, 646 00:33:46,720 --> 00:33:48,880 Speaker 1: to your point, people are moving everywhere. So we see 647 00:33:49,160 --> 00:33:52,600 Speaker 1: real estate blowing up in Wyoming and and uh, Montana 648 00:33:52,720 --> 00:33:56,680 Speaker 1: and Idaho or whatever. People can finally go live where 649 00:33:56,680 --> 00:33:59,600 Speaker 1: they want and still work. And then not even just that, 650 00:33:59,720 --> 00:34:03,520 Speaker 1: but also they can move to Central America or or 651 00:34:03,560 --> 00:34:07,760 Speaker 1: Mexico or whatever. I was. I drove from southern California 652 00:34:07,800 --> 00:34:11,279 Speaker 1: in northern California like two weeks ago, go snowboarding and 653 00:34:11,440 --> 00:34:15,960 Speaker 1: um driving from Orange County up to Mammoth Mountain. It's 654 00:34:15,960 --> 00:34:18,600 Speaker 1: about a six or seven hour drive with traffic, and 655 00:34:18,680 --> 00:34:23,280 Speaker 1: for probably four of those hours you don't see anything 656 00:34:23,920 --> 00:34:27,200 Speaker 1: like in California, Like you drive for like four hours 657 00:34:27,239 --> 00:34:30,360 Speaker 1: of nothing. And I was just thinking about I was 658 00:34:30,360 --> 00:34:34,680 Speaker 1: talking with my daughter and I was just like, you know, everything, 659 00:34:34,800 --> 00:34:37,400 Speaker 1: Like people that think the world's overcrowded haven't really traveled, 660 00:34:37,440 --> 00:34:39,560 Speaker 1: they haven't flown in an airplane or whatever, because it's 661 00:34:39,560 --> 00:34:42,319 Speaker 1: just people are super compacted in the cities. But that's 662 00:34:42,360 --> 00:34:45,359 Speaker 1: because of the industrialization of the world. But I think 663 00:34:45,400 --> 00:34:47,759 Speaker 1: things will really over the next fifty years, as you said, 664 00:34:47,840 --> 00:34:49,879 Speaker 1: or even hundred years, things will really start spreading out 665 00:34:50,000 --> 00:34:52,320 Speaker 1: more evenly throughout the country and throughout the world. It 666 00:34:52,560 --> 00:34:55,160 Speaker 1: would be pretty amazing. I think, Yeah, I think you're 667 00:34:55,239 --> 00:34:57,800 Speaker 1: right about that. And I guess the last piece I 668 00:34:57,840 --> 00:35:00,319 Speaker 1: would add to that is that the in it has 669 00:35:00,320 --> 00:35:02,440 Speaker 1: allowed us to do that and even move to Central 670 00:35:02,400 --> 00:35:06,040 Speaker 1: America or Mexico. But the money states centralized, they could 671 00:35:06,040 --> 00:35:08,720 Speaker 1: still squeeze the money, and that is the missing piece. 672 00:35:08,760 --> 00:35:10,879 Speaker 1: I think that really unlocks it. Yeah, that's a really 673 00:35:10,920 --> 00:35:14,279 Speaker 1: good point. Right, we could we could move, let's say 674 00:35:14,719 --> 00:35:18,520 Speaker 1: in two thousand seven, you could work remotely and travel 675 00:35:18,520 --> 00:35:22,640 Speaker 1: around and make a living online. However you're still hamstring 676 00:35:22,680 --> 00:35:25,239 Speaker 1: by the money, which is such a foundational element. And 677 00:35:25,280 --> 00:35:29,000 Speaker 1: so yes, bitcoin does represent money for everyone. It's a 678 00:35:29,120 --> 00:35:33,040 Speaker 1: single economic language that the entire globe can can on 679 00:35:33,040 --> 00:35:36,600 Speaker 1: board too. And people might be wondering in the West, well, 680 00:35:36,800 --> 00:35:39,080 Speaker 1: we already have the dollar. The dollar works pretty well, 681 00:35:39,280 --> 00:35:42,279 Speaker 1: which is true, right, Relatively, the dollar is strong. We 682 00:35:42,320 --> 00:35:46,160 Speaker 1: have modern financial systems, but at least one billion, probably 683 00:35:46,200 --> 00:35:49,520 Speaker 1: more like two billion people don't have any financial services. 684 00:35:49,840 --> 00:35:52,280 Speaker 1: They can't raise money, they can't open a bank account, 685 00:35:52,360 --> 00:35:54,759 Speaker 1: they can't take out a mortgage, and so things we 686 00:35:54,800 --> 00:35:57,440 Speaker 1: take for granted here in the West, um, are are 687 00:35:57,520 --> 00:36:00,440 Speaker 1: things that bitcoin can solve globally. And you touched on 688 00:36:00,480 --> 00:36:04,000 Speaker 1: another point which I would like to highlight, which is federalism. Right, 689 00:36:04,239 --> 00:36:06,840 Speaker 1: states have their own ability to make their own laws, 690 00:36:07,200 --> 00:36:09,719 Speaker 1: and our founding fathers made this a really big deal 691 00:36:09,880 --> 00:36:13,279 Speaker 1: during the formation of the country for a couple of reasons. One, 692 00:36:13,360 --> 00:36:17,319 Speaker 1: it allows individuals in their local environment to choose the 693 00:36:17,440 --> 00:36:20,080 Speaker 1: rules that best represent the people that are going to 694 00:36:20,200 --> 00:36:23,120 Speaker 1: have to abide by those rules, So it's better for people. 695 00:36:23,640 --> 00:36:27,359 Speaker 1: And at the same time, it offers a laboratory to experiment. 696 00:36:28,120 --> 00:36:29,600 Speaker 1: If you want to live in New York and have 697 00:36:29,719 --> 00:36:33,040 Speaker 1: those rules, fine, move there, do what you do, and 698 00:36:33,080 --> 00:36:35,520 Speaker 1: we'll watch and see the results. And if you want 699 00:36:35,520 --> 00:36:38,239 Speaker 1: to move to Texas and have different rules, okay, we'll 700 00:36:38,239 --> 00:36:41,000 Speaker 1: see the competition and we'll let the best, the best 701 00:36:41,040 --> 00:36:43,520 Speaker 1: ideas rise to the top and then they can be distributed. 702 00:36:43,560 --> 00:36:47,319 Speaker 1: So practical and moral, yeah, that's the best. Vote with 703 00:36:47,360 --> 00:36:49,280 Speaker 1: your feet, vote with your money. But it only works 704 00:36:49,320 --> 00:36:51,200 Speaker 1: if you can actually move and vote in different areas. 705 00:36:51,239 --> 00:36:53,839 Speaker 1: When you federalize it or centralize it all doesn't work 706 00:36:53,880 --> 00:36:57,200 Speaker 1: as as well. That's why I believe the world shifts 707 00:36:57,280 --> 00:37:00,239 Speaker 1: is actually through competition, not through war. Let's into the 708 00:37:00,239 --> 00:37:03,520 Speaker 1: Markmas Show. We're talking about bitcoin and the decentralized revolution. 709 00:37:03,520 --> 00:37:06,480 Speaker 1: I'm in the studio with Brandon Quitum from swan Bitcoin. 710 00:37:06,880 --> 00:37:09,280 Speaker 1: Check them out swan Bitcoin, check out b quit Um 711 00:37:09,360 --> 00:37:12,400 Speaker 1: on Twitter. Um and that's it. Thanks for listening.