Speaker 1: All right, you are listening to the Mark Mo Show.
Speaker 1: Thank you, thank you, thank you for joining me. I
Speaker 1: am bringing you the latest information, the latest news, what
Speaker 1: you need to know on Bitcoin, on cryptocurrencies, on the
Speaker 1: decentralized revolution. Thanks for joining me. This is it's a
Speaker 1: big deal. It's a very very big deal, something that
Speaker 1: you need to know about. It's something that can change
Speaker 1: your life if you understand it correctly, which is why
Speaker 1: I bring this to you each and every week. So
Speaker 1: make sure to set a calendar reminder to join me
Speaker 1: on this channel at this time each and every week.
Speaker 1: I guarantee it is going to be worth your while. Now,
Speaker 1: you know, Bitcoin, cryptocurrencies, decentralized technologies is literally changing the
Speaker 1: world for so many reasons. And uh, you know, I
Speaker 1: talked to a lot of people. You know, I've been
Speaker 1: teaching on it specifically for about six years now, written
Speaker 1: over a thousand pages of research on it, and um,
Speaker 1: you know a lot of my friends, especially now you
Speaker 1: know friends and I haven't even talked to in a
Speaker 1: long time, They're coming out of the woodwork and hit
Speaker 1: me up. And um, you know, one time, a lot
Speaker 1: of times I get asked a question which is um,
Speaker 1: Mark can you explain it to me like I'm five
Speaker 1: and in two minutes And the answer is no, No,
Speaker 1: I can't. I can't. And if all you're going to
Speaker 1: dedicate to it is about a five year old's brain
Speaker 1: power and in two minutes, uh, then we have a
Speaker 1: sayance in g M. I you're never gonna make it,
Speaker 1: just not gonna make it. Um. So I can't explain
Speaker 1: it to you like you're five in two minutes, it's
Speaker 1: just not gonna happen. Um. To understand how big this is, well,
Speaker 1: first of all, you need to really have about seven
Speaker 1: or eight different disciplines and different topics. You need to
Speaker 1: understand technology, you need to understand history. You know, understand
Speaker 1: the monetary system. You don't understand philosophy. I mean, there's
Speaker 1: so many different things you have to understand because there's
Speaker 1: so many different angles. I mean, it's it's that big.
Speaker 1: Where's literally going to change every air of our life.
Speaker 1: And so I can't explain it to you like you're
Speaker 1: five and in two minutes, not not in a meaningful way.
Speaker 1: But if you tune in with me each and every week,
Speaker 1: you're gonna learn all these different things. Now, today I
Speaker 1: want to talk about one area specifically, UM that is
Speaker 1: revolutionary and UM not only is it revolutionary that it's
Speaker 1: going to change humanity, it's that big. It literally solves
Speaker 1: the oldest problem in humanity. UM. So I'm gonna tell
Speaker 1: you what that problem is, how it solves that, where
Speaker 1: that can go in the future. But also, UM, it's
Speaker 1: a big problem. It's also a big problem at the
Speaker 1: same time. And as a matter of fact, it's a
Speaker 1: big problem that I've had personally had a lot of
Speaker 1: problems with UM and trust me, you do not want
Speaker 1: to have the same problems that I've had. And so
Speaker 1: what am I talking about, Well, I'm talking about the
Speaker 1: ability for us to self custody, to take ownership, to
Speaker 1: take custody of our own current cryptocurrency. But with great response,
Speaker 1: with great freedom comes great responsibility. And so that you
Speaker 1: have the ability to do that, to take custody of that,
Speaker 1: but now you're responsible for taking care of it, and
Speaker 1: if you don't do it right, it can be lost
Speaker 1: or stolen or something like that. Now, I personally have
Speaker 1: lost over two million dollars in bitcoin. Give me a
Speaker 1: second while I'm just sad about that for a second,
Speaker 1: let me grab it. Tisue I'm already crying thinking about it.
Speaker 1: I'm gonna tell you what happened, because you don't want
Speaker 1: to lose two million dollars a bitcoin. I can guarantee you.
Speaker 1: I share a text. Didn't want to, but unfortunately I did,
Speaker 1: and I've I've learned a bunch of things, and I
Speaker 1: want you to learn the lessons that I've learned, but
Speaker 1: not the hard way like I've had to. I want
Speaker 1: you to learn from my experience without you having to
Speaker 1: lose your own money. So I'm gonna explain that to you,
Speaker 1: and I'm gonna explain to you what I have personally
Speaker 1: done to make sure that I don't have those problems anymore, because,
Speaker 1: like I said, learned from my mistakes. Now I get it.
Speaker 1: There's a saying that I like to say over and
Speaker 1: over and over again. If you listen to me each
Speaker 1: every week, you'll probably hear me say it over and over.
Speaker 1: But the saying is that some lessons in life can't
Speaker 1: be taught, they can only be learned. But I don't
Speaker 1: think this is one of them. I don't think this
Speaker 1: one can only be learned. I hope not. I hope
Speaker 1: it can be taught to you, so you don't have
Speaker 1: to learn the hard way. You don't want to lose
Speaker 1: any money in bitcoin, especially two million dollars like I did.
Speaker 1: So before we get into that. Um, basically, what am
Speaker 1: I talking about here? So bitcoin? By the way, you're
Speaker 1: listening to the Mark Moa show talking about bitcoin, cryptocurrencies
Speaker 1: and decentralized revolution. Um. And like I said, there's so
Speaker 1: many different areas that you can get into it. But UM,
Speaker 1: let's think about this. And when I say it's a
Speaker 1: technological revolution, I don't mean the new technology like an iPhone.
Speaker 1: I mean a technological revolution that would change the way
Speaker 1: the world works. It fixes problems that are that big.
Speaker 1: So UM, if I were to guess, and I talked
Speaker 1: about this a lot, um, I would say probably the
Speaker 1: oldest problem in the world, or at least one of
Speaker 1: the top few oldest problems in the world. The oldest
Speaker 1: problem that humanity has had is how do I store
Speaker 1: my personal property in a way that can't be stolen?
Speaker 1: So let me set this up a little bit. I'm
Speaker 1: gonna go philosophical for it with for for you for
Speaker 1: a second. I'm gonna I'm not gonna go deep. I'm
Speaker 1: gonna set the stage so at the end of the day,
Speaker 1: everything boils down to me as an individual. I've been born. Um.
Speaker 1: I believe that I was given in aalegal rights by
Speaker 1: a creator. Um. And I have the enable rights to life,
Speaker 1: liberty in the pursuit of freedom and happiness. Those rights
Speaker 1: are not given to me by a government. I'm born
Speaker 1: with those rights, all right. Now. I have my person,
Speaker 1: my body, and I eat food that's calories, and those
Speaker 1: calories are burned as energy in my system, and then
Speaker 1: I can expend that energy to say, dig a whole,
Speaker 1: and if I dig a hole for four hours a day,
Speaker 1: I could earn enough to give me supplies or actually
Speaker 1: I'm gonna start even a low, a little lower down.
Speaker 1: So um, let's say that I had this, uh, this
Speaker 1: rare condition where I couldn't store fat on my body.
Speaker 1: And so if I can't store fat on my body,
Speaker 1: that I'm forced to just eat constantly twenty four hours
Speaker 1: day after eat because I can't store fat. If I
Speaker 1: store fat, it's like my battery, right. Fat is my
Speaker 1: energy source that I store and then when I'm not eating,
Speaker 1: my body can tap into that. Batteries tap into the
Speaker 1: energy source. Right. Um, So as long as I can
Speaker 1: store fat. Um, then I have that battery. Well, um,
Speaker 1: if I expend that energy digging a hole, I'm burning
Speaker 1: into some of those fat stores. And now I'm expanding
Speaker 1: an energy to dig a hole. I dig for four hours,
Speaker 1: I earn enough to live off of. But let's say
Speaker 1: that I decided to work an extra four hours and
Speaker 1: now I've earned more than I needed to consume, and
Speaker 1: I can store that energy that wealth um to be
Speaker 1: used at a later time. So now, um, if I
Speaker 1: don't want to work tomorrow, I have enough energy stored
Speaker 1: up in my battery, in my private property, and I
Speaker 1: need to work tomorrow. Right, that makes sense. So if
Speaker 1: you follow along with me, now, um, what happens is
Speaker 1: as I continue to um work more and more, work
Speaker 1: more than I consume, then I can buy a goat
Speaker 1: and I can buy a cow. And then if I
Speaker 1: don't work for a week, I can just kill the
Speaker 1: cow and I can eat the cow. Whatever. It's my
Speaker 1: private property. I buy a house, I could sell that
Speaker 1: house and I have enough money. Right, so then the
Speaker 1: extension of me and my energy is my ability to
Speaker 1: have private property. Um. And that could be the cows
Speaker 1: that can be, the chickens that can be the land,
Speaker 1: and that allows me if something were to happen in
Speaker 1: my life where I can't work, I have a life battery.
Speaker 1: That's my private property. All private property is an extension
Speaker 1: of me as a as a as an individual, um
Speaker 1: the the state is only there to protect my private
Speaker 1: property rights. So I should as a person, I believe
Speaker 1: that I should only ever be allowed to use force
Speaker 1: against another person only to tech to my private property.
Speaker 1: And that is it. And if the and the state
Speaker 1: is an extension of the individual and should only be
Speaker 1: allowed to help us protect our private property. So that's
Speaker 1: the problem that we have today. As a matter of fact,
Speaker 1: the government Nited States is there to protect private property rights.
Speaker 1: So that's the oldest problem in humanity is how do
Speaker 1: we protect our private property from somebody coming to steal it?
Speaker 1: And of course the easy answer is, well, we form
Speaker 1: a little village, and then another village comes and gets
Speaker 1: our property, and then we form a kingdom, and then
Speaker 1: we form a country. And you see the problem that
Speaker 1: we've had since day one. But bitcoin has solved that problem.
Speaker 1: And I'm gonna explain to you what that means. I
Speaker 1: want to explain to you what that means for the future.
Speaker 1: I want to explain to you how you can take
Speaker 1: advantage of that, but I want to tell you the problems. Right.
Speaker 1: With great freedom comes great responsibility, and if you don't
Speaker 1: do it the right way, you can lose big I
Speaker 1: personally have lost over two million dollars in bitcoin, and
Speaker 1: I don't want you to make the same mistakes. So
Speaker 1: I'm gonna tell you what those mistakes were. Even better,
Speaker 1: I'm gonna tell you what I have personally done to
Speaker 1: make sure that doesn't ever happen to me. And hopefully
Speaker 1: you can just learn from my mistakes right now and
Speaker 1: it doesn't ever happen to you, because I don't want
Speaker 1: it to happen to you. I don't want to lose
Speaker 1: any money. By the way, you're listening to the Mark
Speaker 1: Moss Show, Um, I'm talking about bitcoin and cryptocurrencies and
Speaker 1: the decentralized revolution. I've been researching and writing and talking
Speaker 1: about this for about six years now, helping people uh
Speaker 1: take advantage of this opportunity, but also to avoid the
Speaker 1: pitfalls that I've made myself. You don't want to lose
Speaker 1: two million bucks in bitcoin, right, so stick with me.
Speaker 1: I'm gonna be right back, all right. Welcome back. You
Speaker 1: are listening to the Mark Moss Show, and we are
Speaker 1: talking about bitcoin, cryptocurrencies and the decentralized revolution, the biggest
Speaker 1: opportunity you will ever have in your lifetime. And I
Speaker 1: don't mean that just to be hype and whatever. I
Speaker 1: literally mean that. I'm not gonna go into all the
Speaker 1: reasons why I'm back in that up today. But of
Speaker 1: course if you two know with me each and every week,
Speaker 1: you'll understand this UM today right now, specifically, we're talking
Speaker 1: about how this is solving the oldest problem of humanity,
Speaker 1: and that problem is how do I secure my private
Speaker 1: property in a way that cannot be stolen. Before the break,
Speaker 1: I kind of started at what private property is, why
Speaker 1: it's important, um, and how it's the oldest problem that
Speaker 1: we have so um, since the beginning of time. I'm
Speaker 1: afraid my neighbor is gonna come. Still, my private property
Speaker 1: could be my chickens. Um. So me and my neighbor
Speaker 1: banded together, and then another group's gonna come to take
Speaker 1: our chickens and our goats, and then we make a village,
Speaker 1: and we make a kingdom, and we make a country
Speaker 1: in etcetera. And so since the beginning of time, we've
Speaker 1: been trying to preserve our private property. Our private property
Speaker 1: is an extension, it's it's our life battery. If someone
Speaker 1: comes and steals all my food and all my property
Speaker 1: and all my assets, I could die, right. I don't
Speaker 1: have that battery. That's why private property rights are so important.
Speaker 1: Private property rights underpin every great society. Without private property rights,
Speaker 1: you have nothing. It's that important. Um. I'm not gonna
Speaker 1: go super deep into that. Hopefully that makes a little
Speaker 1: bit of sense. But basically, the oldest problem is how
Speaker 1: do I secure my private property? Well, um, you know,
Speaker 1: gold became money. So what happens is I have a chicken,
Speaker 1: you have a goat. We had a barter system. Well
Speaker 1: what if I don't want your chicken, Well, then we
Speaker 1: don't have a deal. So then it's like, well, shoot,
Speaker 1: you don't want my chicken, Um, would you take this instead? Yeah,
Speaker 1: I'll take that instead, Okay, great? Um. And then over time,
Speaker 1: because barter system is super inefficient, um, things emerged that
Speaker 1: became more and more used, that were more commonly accepted,
Speaker 1: and those were mediums of exchange that was money. Eventually
Speaker 1: we converged to gold, and gold became the money because
Speaker 1: it fits all the properties of divisible, portable, durable, etcetera
Speaker 1: recognizable scarce. And so gold became money and gold gold
Speaker 1: was money for five thousand years. And it basically allows
Speaker 1: us to use this medium of exchange in a barter system.
Speaker 1: So if I don't want a chicken, you don't want
Speaker 1: to goat, we just go to gold and then I'll
Speaker 1: just go buy what I need somewhere else. The problem
Speaker 1: with gold is that, um wall, it has many of
Speaker 1: the great properties, and which is why it was money
Speaker 1: for five thousand years. UM. The thing with gold is
Speaker 1: that one it's uh, it is dense, so it's not
Speaker 1: that big, but it's but it's big and it's heavy.
Speaker 1: And so if you had you know, millions of dollars
Speaker 1: of gold, or even I mean even um, well, today
Speaker 1: the price of gold is pretty high, but even you know,
Speaker 1: tens of thousands of dollars of gold, it's still pretty heavy.
Speaker 1: You can't just really like travel around with that. UM
Speaker 1: if you had, if you had you know, hundreds of
Speaker 1: thousands or millions of dollars of gold, I mean, it's
Speaker 1: really big, Like what are you gonna do with it?
Speaker 1: And so now I'm forced to UM build a safe
Speaker 1: I'm forced to build walls, I'm forced to have security guards.
Speaker 1: And so now there's like this, this cost. It cost
Speaker 1: me a lot of money now to secure my wealth
Speaker 1: and UM and and not only that, like, UM, now
Speaker 1: I've I've spent all this money to build this whole
Speaker 1: fort and safe and whatever, and now I have security
Speaker 1: and I'm wasting all this energy and time them in
Speaker 1: resources just to secure it, just to sit there. And
Speaker 1: then it's not portable. Now I can't take it with
Speaker 1: me anywhere. Now, if I had put um a hundred
Speaker 1: years ago, UM, if I put my entire life savings
Speaker 1: into gold, I don't think there's a country in the
Speaker 1: world I could have put it in a hundred years
Speaker 1: ago that it would have been safe any any country
Speaker 1: in the world. If I would have put all my
Speaker 1: life savings whatever that amount is to you into a
Speaker 1: safe in in any country, whether that be in France,
Speaker 1: or that be in the United States, or that'd be
Speaker 1: in Mexico, wherever it be, UM, it would I would
Speaker 1: have lost it. And the reason why is because the
Speaker 1: political systems have changed. So if you're not aware, in
Speaker 1: ninety three, UH, the United States government made owning gold illegal.
Speaker 1: They took it away from you. So if my life
Speaker 1: savings was in gold, I lost it all if I
Speaker 1: you know, no, no, no matter what country had it,
Speaker 1: and I would have lost it um, And so I
Speaker 1: can't move it. Well, if I did move it, it it
Speaker 1: would be very, very expensive. I would have lost a
Speaker 1: good majority of it in moving it. Um into the
Speaker 1: cost as well as uh, you know, who knows, I
Speaker 1: could have gotten robbed by pirates, It could have you know,
Speaker 1: my ship could have sank at the bottom of the ocean.
Speaker 1: Who knows whatever? Right and so um, I if my wealth,
Speaker 1: if my private property is stored in gold, um, how
Speaker 1: do I secure that? And so that's been the problem
Speaker 1: that man has had since the beginning, And today bitcoin
Speaker 1: solves that one problem. No, bitcoin solves a lot of things,
Speaker 1: and I can't cover every single thing and each each segment,
Speaker 1: but it solves that problem specifically. So now, for the
Speaker 1: first time in history ever, I can store all of
Speaker 1: my wealth in a way that's cryptographically secured. And it
Speaker 1: cost zero dollars, zero effort, zero resources for me to secure.
Speaker 1: I don't need a safe, I don't need a wall,
Speaker 1: I don't need guards. There's no cost. I can secure
Speaker 1: it in a way with zero effort cost expenses, and
Speaker 1: I can transport it anytime I want in where I want. Wow,
Speaker 1: that's pretty big. Now, I've said before many times that
Speaker 1: you know, humans are pretty pretty bad at imagining the future. Um,
Speaker 1: all we can do is imagine better versions of what
Speaker 1: we have today. And so what does that mean, UM,
Speaker 1: when we say that we can we take away the
Speaker 1: oldest problem that mankind has had. UM, Well, it's hard
Speaker 1: to imagine what that future looks like. By the way,
Speaker 1: if you're just tuning and you listen to the Mark
Speaker 1: Moa show, we're talking about bitcoin. We're talking about cryptocurrencies,
Speaker 1: we're talking about decentralized revolution. We're talking about how bitcoin
Speaker 1: is solving the oldest problem that mankind has had, which
Speaker 1: is securing our private property. UM. And so now I
Speaker 1: can secure it, I can store it, no one can
Speaker 1: manipulate it, no one can inflate it away, no one
Speaker 1: can seize it, no one can steal it. And I
Speaker 1: can take it with many where I want, and so
Speaker 1: I don't know exactly. And I can take it with
Speaker 1: many where I want, and so I don't know exactly.
Speaker 1: Solve the oldest problem that mankind has had. It has
Speaker 1: massive implications. Massive Um what are what are some of
Speaker 1: those implications? Well, um, as I said, right, if if
Speaker 1: you held gold, if you would have put all your
Speaker 1: life savings into gold hundred years ago, you would have
Speaker 1: lost it no matter where you put it, unless you
Speaker 1: would have moved it, which would have then you would
Speaker 1: have lost it, lost some of it at least because
Speaker 1: you had to move it. Um. Even in the United
Speaker 1: States they seized all the gold, would have lost it
Speaker 1: in America too. So what if I could hold my
Speaker 1: wealth in a way that my government couldn't seize, they
Speaker 1: couldn't take it from me, Well, it changes the incentive structure. Uh.
Speaker 1: Warren Buffett's partner Charlie Monger says that you show me
Speaker 1: the incentives, I'll show you the outcome. And so when
Speaker 1: we live in a system where um, somebody's stronger than me,
Speaker 1: somebody like a government that has a monopoly on violence. Um,
Speaker 1: somebody's stronger than me can come and steal my wealth,
Speaker 1: then the incentive is that for some people to get
Speaker 1: bigger and stronger and build bigger armies so they can
Speaker 1: come steal from people. Um. And then the people that
Speaker 1: are afraid of being stolen their incentive is to not save,
Speaker 1: not to not to build wealth, not to plan ahead,
Speaker 1: because I know what's the point At any point they're
Speaker 1: going to steal it from me, So why would I
Speaker 1: even bother? So on one side, nobody tries, they don't
Speaker 1: plan ahead, they don't save. The other side, people build
Speaker 1: up these strong armies so they can go steal it. Um.
Speaker 1: And and that's that's it. But what does that mean?
Speaker 1: What does that mean for the future, Well, it's pretty dramatic.
Speaker 1: I want to explain to you exactly how big of
Speaker 1: a world to shift this will be. I believe it's massive, massive, massive,
Speaker 1: peace and prosperity on the other side, that's how big
Speaker 1: this is gonna be. But I wanna explain that you
Speaker 1: want to break it down, um, because I think when
Speaker 1: you understand it from this level, you're gonna really understand
Speaker 1: how big of an opportunity this is. And I don't
Speaker 1: want you to miss out on this. And unfortunately most
Speaker 1: people are getting wrong information. Um. But if you get
Speaker 1: the right information, then you can make the rate, the
Speaker 1: right allocations and take advantage of it. By the way,
Speaker 1: you're listening to me, I'm the one with the voice.
Speaker 1: You're listening to me on Mark Moss. It's the Mark
Speaker 1: Moss Show, and I'm bringing you the latest in bitcoin
Speaker 1: and cryptocurrency and new you of news on the decentralized revolution. Um,
Speaker 1: it's the biggest opportunity you'll ever have. Like I said,
Speaker 1: this is literally solving the oldest problem. I want to
Speaker 1: tell you also, um, the problems with trying to secure
Speaker 1: your wealth. It's not as easy as you think. I've
Speaker 1: personally lost over two million dollars of my bitcoin because
Speaker 1: I got things wrong. And I want to tell you
Speaker 1: what I got wrong, but more importantly, tell you what
Speaker 1: I did to solve it so you don't lose any
Speaker 1: of your bitcoin. I'll be right back. All right, welcome back.
Speaker 1: You are listening to the Mark mos Show. We're talking
Speaker 1: about bitcoin. We're talking about cryptocurrencies. We're talking about the
Speaker 1: decentralized revolution. We're talking about the biggest opportunity you will
Speaker 1: ever see in your lifetime. And I don't mean that lightly.
Speaker 1: I mean that seriously. Before the break, we were talking about, um,
Speaker 1: how bitcoin has Uh. Well, look, it's not an easy subject.
Speaker 1: I said in the first section. If you're with me,
Speaker 1: you know people say, hey, Mark, explain to me like
Speaker 1: I'm five years old and tell me in two minutes.
Speaker 1: And it's like, I can't. I can't do that. It's
Speaker 1: it's it's it's too big for that. Um. And so
Speaker 1: what I can do is I can tell you little
Speaker 1: things and over a long period of time, you know
Speaker 1: they'll start adding up. And so today we're talking about
Speaker 1: how bitcoin has solved the oldest problem that mankind has had. Uh,
Speaker 1: We're gonna talk about uh, and and that is how
Speaker 1: do I safely secure store my private property in a
Speaker 1: way that can't be stolen? And so, um, bitcoin fixes
Speaker 1: that all right? Now? Um what does that mean though? So? Uh,
Speaker 1: instead of, like I said, having to build a wall
Speaker 1: of for guards to go to guard my gold, now
Speaker 1: I can store my bitcoin, all my wealth and bitcoin,
Speaker 1: and I can cryptographic secure it, so I can keep
Speaker 1: a cryptographic key cryptography hence the name cryptocurrency. UM. And
Speaker 1: it costs me zero dollars, zero money to secure my
Speaker 1: wealth in a way that nobody can take it, steal it,
Speaker 1: sees it from me, and I can take it with
Speaker 1: me anywhere I want. It's portable. As a matter of fact,
Speaker 1: what I can do is my crypto, my crypto cryptography key.
Speaker 1: The cryptographic key is a very long set of numbers
Speaker 1: and letters. But what you can do is you can
Speaker 1: back up your key and what's called seed phrase, and
Speaker 1: I can back it up into twelve words, or I
Speaker 1: could choose twenty four words whatever I want, UM, so
Speaker 1: I could use it would be twelve random words. Would
Speaker 1: be like hotel, carpet, dog, ocean bank, right, like twelve
Speaker 1: random words, And I could as long as I know
Speaker 1: those twelve words, I could go anywhere in the world. UM,
Speaker 1: grab a wallet, some sort of a bitcoin wallet. I
Speaker 1: could download any number of hundreds of them in the
Speaker 1: app stores, UM, and I plug in those twelve words,
Speaker 1: and I would have all my wealth. So if I
Speaker 1: had to escape naked, uh, swimming in through the oceans
Speaker 1: to another country, when I got there, as long as
Speaker 1: I knew those twelve words in my head, I would
Speaker 1: have all my wealth with me. That's that's how easy
Speaker 1: it is. UM. Now how big. I want to tell
Speaker 1: you the problems with that and why I've lost two
Speaker 1: million dollars and what I'm doing to fix that today.
Speaker 1: But before I do, I want to tell you just
Speaker 1: why that's important. So when we change the intensive structures,
Speaker 1: we change the outcome. And so when we get to
Speaker 1: a system where your wealth can't just be stolen from you,
Speaker 1: it changes incentives. And so you know, we're in a
Speaker 1: system today that's incentivized by theft. And so if I'm
Speaker 1: bigger or stronger than you, or more cunning than you,
Speaker 1: um or I use uh the government um which is
Speaker 1: a term called legal plunder, we can find ways to
Speaker 1: steal your wealth, steal your value, still your your life,
Speaker 1: your property. So the government does legal plunder. They come
Speaker 1: up with all different ways they can, you know, freeze
Speaker 1: your accounts and seize your accounts and taxes and regulations
Speaker 1: and blah blah blah um and and so there's this
Speaker 1: there's this incentive to steal wealth from people. And then
Speaker 1: on the other side, if the people know their wealth
Speaker 1: is going to be stolen, then they don't even bother
Speaker 1: build up wealth. But imagine when that changes. Imagine if
Speaker 1: that if that rules changed, and now I know that
Speaker 1: nobody can come and steal my wealth from me, Well,
Speaker 1: now I'm incentivized to build my wealth. I'm incentivized to
Speaker 1: build value. And of course the way that you do
Speaker 1: that is by providing goods and services to other people.
Speaker 1: You do that by by serving people, by solving people's needs.
Speaker 1: Um and so now I'm incentivized to go serve as
Speaker 1: many people as possible so I can build up my
Speaker 1: wealth and I'm sinivised do that because I know it
Speaker 1: can't be stolen. That's a massive benefit for the world.
Speaker 1: On the other side, the group that's usually um used
Speaker 1: to the legal plunder or the the the theft. Maybe
Speaker 1: that's a war lord over in the Congo, or even
Speaker 1: could be the government United States that knows they could
Speaker 1: just steal the money at your account. When they know
Speaker 1: that they can no longer steal from you, then they're
Speaker 1: incentivized now to go, shoot, well, I can't steal the
Speaker 1: money anymore. So dang, I guess if I still want money,
Speaker 1: I actually have to provide them a valuable good in
Speaker 1: a service. Wow. You see how the power balance shifts,
Speaker 1: how the incentive structure changes. I want. Before you had
Speaker 1: people that just could steal whenever they want. On the
Speaker 1: other side, people weren't sentivized to build value because they
Speaker 1: know it could be stolen. Now we're in a system
Speaker 1: where both sides realize and are incentivized to live in
Speaker 1: a world where they can create value to other people. Wow,
Speaker 1: how much better off will the world be? Now? I
Speaker 1: don't know exactly what that means, but we have all
Speaker 1: these people who are who are not contributing to society,
Speaker 1: who are not learning how to solve people's problems and needs,
Speaker 1: who are not adding value to the world because they
Speaker 1: know that their wealth can be stolen any time. Um.
Speaker 1: And then you have another group of people who are
Speaker 1: still in the wealth and they're not providing any value either.
Speaker 1: So imagine when the whole world is focused on solving problems,
Speaker 1: serving other solving needs. Imagine how much progress will have.
Speaker 1: It will be an explosion of ideas, an explosion of technology.
Speaker 1: Is our world will get better, it will get easier,
Speaker 1: will have more wealth. Imagine follow that path down for
Speaker 1: ten years, thirty years, a hundred years of everybody focused
Speaker 1: on solving problems and serving others. Imagine how much technology
Speaker 1: I mean, imagine how diseases, all those things that can
Speaker 1: be cured if everybody's focused on that instead of the
Speaker 1: system we have today where half the people are focused
Speaker 1: on stealing and the other half are not incentivized. Now,
Speaker 1: don't get me wrong, there's this very very small group
Speaker 1: of entrepreneurs who even though they know the odds, they're
Speaker 1: still out there trying to solve problems and needs. And
Speaker 1: of course those are the ones making money. Of course,
Speaker 1: those are the ones that your government wants to demonize
Speaker 1: or or villainize, saying that they're the greedy ones, are
Speaker 1: the bad ones, because look at all the wealth they've created,
Speaker 1: and so let's figure out a way to steal their
Speaker 1: will too. Um. But I think you can easily see
Speaker 1: how big of a shift that can make in the world.
Speaker 1: And again I can't say every way that changes the world,
Speaker 1: but I think hopefully you can understand just how explosive,
Speaker 1: just how big that will be when you solve the
Speaker 1: oldest problem that man kind of have. So that's what
Speaker 1: bitcoin does. Now, there's lots of problems with this. As
Speaker 1: I said, with great responsibility, or with great opportunity, comes
Speaker 1: great responsibility. And so now I can store my wealth
Speaker 1: in a way as I said, right that nobody can
Speaker 1: steal it from me, and I can take it with
Speaker 1: me any where I want. I can I can know
Speaker 1: my twelve word backup phrase. But if I lose that,
Speaker 1: if I forget that, I lose it all. See, So
Speaker 1: now I have the benefit, but I also have to
Speaker 1: be responsible. And there's a lot of ways that you
Speaker 1: can lose your cryptocurrency, all right, there's a lot of
Speaker 1: ways it can get stolen. Uh, there's a lot of
Speaker 1: ways you can lose it, um, And I'm not going
Speaker 1: to cover all the ways, but I will cover a
Speaker 1: couple of ways because um, as I've been kind of
Speaker 1: hinting to UM, I personally lost over two million dollars
Speaker 1: worth of bitcoin. And and it's not all been in
Speaker 1: one way, It's been in multiple ways. And unfortunately how
Speaker 1: to learn my lesson a couple of different ways. And
Speaker 1: I don't want you to lose two million dollars. I
Speaker 1: don't want you to lose to one dollar, UM like
Speaker 1: I have. And so I'm gonna break down those ways
Speaker 1: that I've lost my my value. UM, so you don't
Speaker 1: make those same mistakes, then I would tell you what
Speaker 1: I've done to fix them. So, UM, the first thing
Speaker 1: is that, UM, there's a couple of ways that you
Speaker 1: can store your store your bitcoin keys. Now, UM, first off,
Speaker 1: you don't ever download your cryptocurrency, so you don't ever
Speaker 1: actually take possession of coins. You don't download them into
Speaker 1: your phone like so there's you can download any number
Speaker 1: of apps that are that are called a wallet, like
Speaker 1: a crypto wallet. You don't actually download your coins. Um,
Speaker 1: what your wallet holds is a key. So think about
Speaker 1: it like this giant digital locker system. So, um, back
Speaker 1: in the old days of your old enough to remember,
Speaker 1: or even let's say at your school. Um, you have
Speaker 1: a locker system, right, and so your lockers C. Nineteen
Speaker 1: and I could say, hey, go to my locker C.
Speaker 1: Nineteen and put this envelope, put a check into it, whatever,
Speaker 1: and anybody can go to my public address c. Nineteen
Speaker 1: and put put money in. But on the I have
Speaker 1: the combination the code or the key to actually open
Speaker 1: the locker. So that's how cryptocurrency is. It's like this
Speaker 1: digital locker system. Um, I never download keys, I'm sorry. Coins.
Speaker 1: What I do is I have a public address and
Speaker 1: a private key, and anybody can have my public address,
Speaker 1: and I could say, hey, give me cryptocurrency, here's my
Speaker 1: public address, and they would put money into my public address.
Speaker 1: But I have the key, which then I can open
Speaker 1: that um that locker and then transfer that money to
Speaker 1: somewhere else. And so all I ever do is secure
Speaker 1: my key. The app I download on my phone, it
Speaker 1: holds my key um and so that's I just wanted
Speaker 1: to kind of set the stage for that. By the way,
Speaker 1: you're listening to the Mark Moas Show. We're talking about bitcoin,
Speaker 1: We're talking about cryptocurrencies. We're talking about the decentralized revolution.
Speaker 1: How's the biggest opportunity you'll ever have in your lifetime?
Speaker 1: And I'm specifically talking about how we fixed the oldest
Speaker 1: problem in humanity, which is that I can store my
Speaker 1: wealth in a way that no one else can steal
Speaker 1: from me. But there's risks. I've personally lost over two
Speaker 1: million dollars a bitcoin because I didn't get these things right,
Speaker 1: and I want to tell you how you cannot make
Speaker 1: the same mistakes. I'll be right back, all right, Welcome back.
Speaker 1: You're listening to the Mark Moa Show. We're talking about bitcoin,
Speaker 1: cryptocurrencies and the decentralized Revolution and us. I've been talking
Speaker 1: about how we've Bitcoin has solved cryptocurrencies as sold the
Speaker 1: oldest problem that man kind has added, which is that
Speaker 1: I can store my wealth in a way that cannot
Speaker 1: be taken away from me when it costs no money
Speaker 1: or security, and I can take it with me any
Speaker 1: where I want, and I can do that by UM
Speaker 1: securing my private key. All Right, if you've missed this,
Speaker 1: go back and find the podcast later because you don't
Speaker 1: want to miss what I've already said, but I'm not
Speaker 1: gonna repeat it. So I all I have is my
Speaker 1: private key, and UM, if I choose to leave my
Speaker 1: UM cryptocurrency on an exchange like coin base or cracking
Speaker 1: or Jimini or whatever, then they hold my private key.
Speaker 1: So I don't I don't have a key, they hold
Speaker 1: it for me UM. Or I can store it in
Speaker 1: my own on my own app on my phone or
Speaker 1: a hardware wallet, and then I have my key. So
Speaker 1: if I have my key, I don't have to worry
Speaker 1: about outer party risk. So if I keep it on exchange,
Speaker 1: then UM, they keep my key safe, but then there's
Speaker 1: risk there. Um. If I keep my key, then I
Speaker 1: don't have to worry about the risk from them counterparty risk.
Speaker 1: But now I have to keep myself safe myself. So UM,
Speaker 1: I've lost over two million dollars in bitcoin. Let me
Speaker 1: explain to you what happened. So the first time I
Speaker 1: was using a phone an app on my phone, on
Speaker 1: an Android phone, I was using the jacks Wallet and UM.
Speaker 1: I was in Mexico on vacation and UM I needed
Speaker 1: to send a big transaction for some some bitcoin mining equipment,
Speaker 1: and UM I could only get off a limited amount
Speaker 1: of money off the exchange per day, and so what
Speaker 1: I was doing is every day I would log in
Speaker 1: UM pull off the maximum out I can get off
Speaker 1: off that exchange for per day, and then once I
Speaker 1: had enough money in there, I could send it in
Speaker 1: one transaction to get the mining equipment I needed. And
Speaker 1: I was pulling off every day, every day, every day.
Speaker 1: This was I think June of and UH. I was
Speaker 1: pulling off every day while at this vacation rental the
Speaker 1: super nice house on the beach and using their WiFi.
Speaker 1: And after like two or three days of this, I
Speaker 1: logged into the app and it was empty. It was
Speaker 1: all gone. Now a little bit about me. I started
Speaker 1: an internet business in two thousand one at the bottom
Speaker 1: of the dot com crash. UM I built that business up.
Speaker 1: I have a fortune in technology. I've been on the
Speaker 1: internet ever since my op seck. My security is above
Speaker 1: par UM. My opposite is better than anybody else's, well
Speaker 1: better than the majorities. And so if I can lose it.
Speaker 1: You can lose it. Let me just say that. UM.
Speaker 1: So anyway, it was gone and there's just no recourse.
Speaker 1: It's just empty. Now. At the time, it was about
Speaker 1: forty thou dollars. Now, when I say I've lost two
Speaker 1: million dollars in bitcoins, that's at today's valuation. So at
Speaker 1: the time, it was about forty thousand dollars at the time.
Speaker 1: But that was in in June of seventeen, when bitcoin
Speaker 1: was like two thousand dollars day at sixty six sixty whatever,
Speaker 1: six over sixty UM, And so I am, I am
Speaker 1: a little bit hype hyped up. When I say I've
Speaker 1: lost two million in today's dollars, it's two million. So
Speaker 1: I lost about forty thousand dollars at that time, UM
Speaker 1: using an app. And UH, I still to this day
Speaker 1: don't don't know what happened. Of course, I've contacted the company,
Speaker 1: We did all the research and investigation that no one
Speaker 1: can find out. Somehow, maybe the WiFi in the house
Speaker 1: had a bug, or somehow some sort of a virus
Speaker 1: got on my phone. Maybe they maybe internally they stole
Speaker 1: it from me. I don't know. But what I do
Speaker 1: know is that UM I don't ever trust those types
Speaker 1: of UM hot that's called a hot wallet, and because
Speaker 1: it's always connected to the web, so anything could happen
Speaker 1: and someone could get into my keys and they could
Speaker 1: empty my account, so I don't I don't use that.
Speaker 1: I look at that as like a of my wallet.
Speaker 1: I I go to the A t M, I pull
Speaker 1: out a little bit of cash that I want to
Speaker 1: walk around town with. I put that in my wallet.
Speaker 1: If I lose my wallet something of the day, I
Speaker 1: lost whatever money I pulled out, but I didn't lose
Speaker 1: my whole bank account. So if I use those types
Speaker 1: of apps today, I'll put a little bit of money
Speaker 1: in that I don't mind losing, but I'm not putting
Speaker 1: my life savings in. So that was that was the
Speaker 1: one mistake. UM I'm not gonna go through all the
Speaker 1: ways I've lost money, because I've lost bitcoin other ways
Speaker 1: as well, but the but the one that really got me,
Speaker 1: and this is the one you need to be aware of,
Speaker 1: is when you keep money on the exchange, you're trusting
Speaker 1: them to securely story your key, but it creates counterparty
Speaker 1: risk and there's any number of reasons why they may
Speaker 1: not give that back to me. Maybe the government freezes
Speaker 1: their accounts and says don't give them withdraws. Maybe they
Speaker 1: go bankrupt, maybe they get hacked, any number of ways.
Speaker 1: And um, I was using one of the one of
Speaker 1: the top um um cryptocurrency exchanges in the United States.
Speaker 1: I'm not gonna say their name because I'm actively in
Speaker 1: a lawsuit with them right now, which depends on how
Speaker 1: the lawsuit works out, you'll be hearing more about it.
Speaker 1: But um, I was. I put some money in my
Speaker 1: crypto exchange is one of the top exchanges in the country.
Speaker 1: I've been using them for years. I logged in I
Speaker 1: think one or two days later, and it was gone,
Speaker 1: Like I think it was about twenty about bitcoin gone.
Speaker 1: It's a lot, a lot of money. At the time,
Speaker 1: it was about a quarter million dollars today's the about
Speaker 1: a million a half dollars was gone. And I'm like,
Speaker 1: what the heck is this. I send them an email
Speaker 1: and like, hey, we what what's going on is my
Speaker 1: account of d And then they send me like this
Speaker 1: canned response back, we don't see anything problem. I'm like, whoa, whoa, whoa, whoa, whoa.
Speaker 1: That's that's not that's not cutting it for me, Uh, nope,
Speaker 1: nothing wrong. Um lucky you know, not luckily, but I mean,
Speaker 1: you know, I'm I've been in the space for a
Speaker 1: long time. You know a lot of people. I got
Speaker 1: the owner involved of the exchange and UM needles to say. UM,
Speaker 1: I'm saying that they did wrong doing and for whatever reason,
Speaker 1: my account got zeroed out. And that's just that's just gone.
Speaker 1: And that's a risk that you have when you don't
Speaker 1: have your key. They had my key. So now we're
Speaker 1: fighting over. Like I said, we're going to court. Actually
Speaker 1: I think in two weeks. Um. And so if you
Speaker 1: use a hot wallet like I did, there's a risk
Speaker 1: someone could because someone could compromise that. Um. If if
Speaker 1: you keep it on exchange, there's a risk I lost
Speaker 1: both on those and so what I'm doing today to
Speaker 1: solve this is different. So UM, what you could do
Speaker 1: instead is use something called a hardware wallet. It's also
Speaker 1: called cold storage. So you could use like a treads
Speaker 1: or or like a Ledger or a cold card. Those
Speaker 1: are like three different types of wallets. You can look
Speaker 1: them up by them and it's like a little USB
Speaker 1: device and that USB device holds your key and what
Speaker 1: happens is it's cold storage. Mean, it's not connected to
Speaker 1: the internet. If I want to do a transaction on
Speaker 1: my computer, I'll plug it in, it'll sign the transaction,
Speaker 1: and then I unplug it. So it's no my key
Speaker 1: never gets onto the internet. And so I've been using
Speaker 1: hardware wallets for a number of years, but I'm still scared,
Speaker 1: Like I've allowed all this money, I'm scared of what
Speaker 1: happens with my cryptocurry, my cryptocurrency and z and different
Speaker 1: hardware wallets. Because I'm compartmentally. Something happens to one, I
Speaker 1: don't want to lose it all right, um, And so
Speaker 1: I've been splitting it up. But then like what if um,
Speaker 1: And I'm not saying this is the case, but what
Speaker 1: if one of those hardware wallet manufacturers like Ledger, treads
Speaker 1: or whatever. Let's say that one of the developers was
Speaker 1: went went rogue and put a backdoor in and he's
Speaker 1: gonna wait five years until Krypto was worth all this money,
Speaker 1: and he's gonna rug pull me and he's gonna pull
Speaker 1: all the money out. That could happen. I mean, I
Speaker 1: don't know, I'm not a code or I don't know
Speaker 1: what maybe could have happened. Right, And so that's a
Speaker 1: risk and I'm just not super comfortable taking that risk, right,
Speaker 1: And so what I'm doing today is I'm doing something
Speaker 1: called multi sig multi signature. So if you've watched a movie, um,
Speaker 1: basically it's like to launch the nukes, you have to
Speaker 1: put two keys in and the keys have to be
Speaker 1: turned at the same time. Right, that's a multi sig
Speaker 1: set up. And so I'm working with a company called
Speaker 1: Unchained Capital, and they have a concierge service. They can
Speaker 1: help you out with this. You can do it yourself,
Speaker 1: but I'm afraid to make the mistake because like I
Speaker 1: don't want to make a mistake with my wealth. And
Speaker 1: so they have a concierge service and you can just
Speaker 1: go to Unchained Cap their website and and uh, basically
Speaker 1: they can walk you through and you and you set
Speaker 1: up three keys. You can do two of three or
Speaker 1: three of five. And so now I have three key
Speaker 1: from three different manufacturers. And so if one of them
Speaker 1: has something malicious, it doesn't matter. And so now in
Speaker 1: order for me to send my bitcoin, I need two
Speaker 1: of my keys to sign the transaction. So I have
Speaker 1: three keys from three manufacturers. I keep one at my
Speaker 1: house in California, one at my house in Puerto Rico,
Speaker 1: and then they keep a key for me, and so
Speaker 1: that way my keys are never together. If somebody broke
Speaker 1: into my house, they couldn't get all three of my keys.
Speaker 1: And this is the most sure way to secure your wealth.
Speaker 1: It's what I'm doing now. It's, unfortunately, was the tough lesson.
Speaker 1: Hopefully you'll learn from my mistakes and not from your own.
Speaker 1: By the way, you're listening to the Mark Moss Show,
Speaker 1: I'm bringing you the latest information on bitcoin, cryptocurrencies and
Speaker 1: the decentralized revolution. This is literally the biggest opportunity you'll
Speaker 1: ever have in your life, and I want you to
Speaker 1: take advantage of it. And I don't want you to
Speaker 1: make the same mistakes like I've had, because while that's
Speaker 1: about two million dollars in today's bitcoin dollars, and ten
Speaker 1: years from now it could be million dollars, it could
Speaker 1: be two d million dollars. Don't make those mistakes. Um,
Speaker 1: don't miss out on this opportunity. Pull out your phone,
Speaker 1: put down a calendar reminder to join me on this
Speaker 1: channel at this time each and every week. There's a
Speaker 1: deep subject. As I said, right, you gotta know six
Speaker 1: or eight different disciplines. I can't explain it to like
Speaker 1: your five and two minutes. You need to tune in,
Speaker 1: you need to get the information if if you want
Speaker 1: to benefit from this. Now you can choose to ignore it,
Speaker 1: and that's okay. As I said earlier, everyone's going to
Speaker 1: buy a bitcoin at the price they deserve, and so
Speaker 1: you can either deserve it now you can put the
Speaker 1: work in, or you can buy it later at a
Speaker 1: higher price when everyone else does you listen to the
Speaker 1: Mark Moas Show. Thanks for joining me.