WEBVTT - The Mark Moss Show Oct 25, 2021 0:00:00.040 --> 0:00:02.600 Hello, and welcome to the Mark Moa Show, where I 0:00:02.640 --> 0:00:06.320 am bringing to you the latest information on bitcoin, cryptocurrencies, 0:00:06.320 --> 0:00:10.800 and the decentralized revolution each and every week. Ah, this 0:00:10.880 --> 0:00:12.639 is the most important part of your week. This is 0:00:12.680 --> 0:00:14.400 the part of the week that you do not want 0:00:14.440 --> 0:00:18.639 to miss because this is literally the biggest opportunity you 0:00:18.680 --> 0:00:21.159 will ever have, you'll ever see in your lifetime, and 0:00:21.200 --> 0:00:24.680 not just your lifetime, probably the biggest opportunity that people 0:00:24.680 --> 0:00:28.640 will see in generations. It's that big. Now, as a 0:00:28.640 --> 0:00:33.319 as a pretty much career long professional investor, we look 0:00:33.400 --> 0:00:36.680 for something known as an asymmetric opportunity, means we have 0:00:36.760 --> 0:00:40.199 more upside than downside. That's how you always think about investing. 0:00:40.440 --> 0:00:42.760 And the best way to get that asymmetric upside is 0:00:42.800 --> 0:00:46.440 to have a symmetric information. That means that you have 0:00:46.680 --> 0:00:50.680 information that most people don't know about. And so that's 0:00:50.680 --> 0:00:52.239 what I'm bringing to you each and every week. So 0:00:52.560 --> 0:00:54.120 make sure to tune in if you can real quick. 0:00:54.200 --> 0:00:56.240 Just go ahead and pull out your phone or whatever, 0:00:56.240 --> 0:00:58.279 set a reminder to come back to the station at 0:00:58.320 --> 0:01:01.160 this time and join in with me. Now we're gonna 0:01:01.160 --> 0:01:02.320 dig right into it. I want to give you the the 0:01:02.360 --> 0:01:05.319 information that you need. And the big news this week, 0:01:05.400 --> 0:01:09.640 of course, is all time highs. We are back to 0:01:09.720 --> 0:01:13.760 all time highs. We are seeing cryptocurrencies smashed through previous 0:01:13.840 --> 0:01:16.880 all time highs and go into what we would call 0:01:17.120 --> 0:01:21.640 uncharted territory. Now. I started out this show the first 0:01:21.680 --> 0:01:24.000 episode we did and I had my good friend Alex 0:01:24.040 --> 0:01:28.240 Gladstein on and the reason why I stated, um, and 0:01:28.280 --> 0:01:30.319 if you missed that episode, go back and listen to it. 0:01:30.360 --> 0:01:31.600 But the reason why I stated I want to have 0:01:31.640 --> 0:01:34.600 Alex on for that show is because he is head 0:01:34.600 --> 0:01:38.640 of the Human Rights Foundation and bitcoin is doing more 0:01:38.720 --> 0:01:42.320 for human rights, global human rights than any other thing 0:01:42.520 --> 0:01:45.000 we've ever seen happen in this world today. And I 0:01:45.040 --> 0:01:47.720 wanted to put it um on the first episode, the 0:01:47.760 --> 0:01:51.560 first show, because I wanted people to know that is 0:01:51.600 --> 0:01:53.400 the most important thing. I didn't want to talk about 0:01:53.440 --> 0:01:56.320 the price. I've continued to say that I think price 0:01:56.520 --> 0:01:59.720 is a distraction. Of course, I've gone deep into that 0:02:00.200 --> 0:02:01.480 um and I don't want to spend a lot of 0:02:01.480 --> 0:02:03.520 time on that. If you've been tuning in every single week, 0:02:03.560 --> 0:02:05.760 you've already heard that. But I do just want to 0:02:05.760 --> 0:02:08.680 just kind of reiterate that before. Of course, we jump 0:02:08.720 --> 0:02:12.079 in and talk about the price because everybody's excited. We 0:02:12.120 --> 0:02:16.239 are sitting at all time highs again right now. Um. 0:02:16.280 --> 0:02:18.639 As a matter of fact, we saw a bitcoin smashed 0:02:18.639 --> 0:02:22.079 through its previous all time high that was set right 0:02:22.120 --> 0:02:26.720 around sixty four, just under sixty five thousand, and in 0:02:27.200 --> 0:02:29.680 last night's and early morning trading we got up as 0:02:29.720 --> 0:02:34.280 high as sixties seven thousand U S. Dollars per bitcoin. 0:02:34.360 --> 0:02:37.440 Now I've seen many people joking, um that you know, 0:02:38.880 --> 0:02:42.840 the U. S. Government has printed about eight trillion dollars 0:02:42.840 --> 0:02:46.200 over the last year, which means that your dollars buy less. 0:02:46.680 --> 0:02:51.160 They inflated the money monetary supply by about so now 0:02:51.200 --> 0:02:56.240 your dollars will buy about less goods and services. So 0:02:56.400 --> 0:02:59.120 if we're adjusted for inflation, maybe we're not back up 0:02:59.160 --> 0:03:01.040 to all time eyes. But we're not going to dig 0:03:01.080 --> 0:03:04.079 too much into that right now. But we have smashed 0:03:04.080 --> 0:03:07.400 that that previous all time high. Ethereum, the other big 0:03:07.680 --> 0:03:11.880 token was up as high as forty three hundred, about 0:03:11.880 --> 0:03:14.680 forty three seventy five and has now settled back down 0:03:14.720 --> 0:03:17.840 about four thousand. Of course, that is taking us into 0:03:18.000 --> 0:03:22.040 uncharted territory again. The price is a little bit of 0:03:22.080 --> 0:03:24.720 a of a distraction. I don't dig super deep into this, 0:03:24.760 --> 0:03:28.119 but just from pure technical analysis standpoint, which of course 0:03:28.120 --> 0:03:30.919 technical analysis is used for people to try to kind 0:03:30.919 --> 0:03:33.880 of forecast where these price movements are going. And you 0:03:33.880 --> 0:03:36.280 would look at the price action, you look at the candles, 0:03:36.320 --> 0:03:39.280 the bars, and then you would look at areas that 0:03:39.320 --> 0:03:42.560 had support and resistance and things like that. Well, when 0:03:42.600 --> 0:03:45.800 you get over the all time high, there is no 0:03:45.960 --> 0:03:49.320 resistance above head, so there's nothing, there's no ceiling, and 0:03:49.360 --> 0:03:51.920 so we get into what's known as a price discovery. 0:03:52.240 --> 0:03:55.360 Anytime you have a new product, or really anything in 0:03:55.360 --> 0:03:59.400 the free market, it goes through a process of price discovery, 0:04:00.200 --> 0:04:02.680 no different if it was real estate or any other asset. 0:04:02.720 --> 0:04:05.200 And basically what that is is the price needs to 0:04:05.240 --> 0:04:08.680 find the equilibrium of what or or the kind of 0:04:08.680 --> 0:04:12.200 the middle between what buyers want to pay for it 0:04:12.240 --> 0:04:15.480 and what sellers are willing to sell it for. Of Course, 0:04:15.760 --> 0:04:19.040 like all prices, they're driven by supply and demand. So 0:04:19.120 --> 0:04:21.960 if you have more buyers, more people that want to buy, 0:04:22.080 --> 0:04:25.240 then you do have people willing to sell, the price 0:04:25.320 --> 0:04:26.760 is going to go up. Those buyers will have to 0:04:26.760 --> 0:04:29.479 be willing to pay more um and likewise, the opposite 0:04:29.560 --> 0:04:31.320 is true, and so we're above the all time high. 0:04:31.360 --> 0:04:34.400 We're into that area known as UM. Like I said, 0:04:34.520 --> 0:04:38.800 price discovery. Now you might have heard if you're paying attention, 0:04:38.839 --> 0:04:41.160 and of course if not, don't worry, I got your back. 0:04:41.240 --> 0:04:43.080 I'm bringing it to each and every week. But the 0:04:43.120 --> 0:04:46.240 big news this week, the big, big, big, big news 0:04:47.080 --> 0:04:51.000 was that we got a bitcoin e t F that 0:04:51.040 --> 0:04:53.480 came out. It was released. Now, I believe it's been 0:04:54.680 --> 0:04:58.640 seven or eight years now that Wall Street has been 0:04:58.680 --> 0:05:01.920 trying to get a b bitcoin e t F into 0:05:01.960 --> 0:05:05.279 the marketplace, like seven years. Dozens and dozens a dozen 0:05:05.440 --> 0:05:08.920 of them have been submitted and continually have been denied 0:05:09.080 --> 0:05:12.119 over and over and over again. And so it's really 0:05:12.120 --> 0:05:14.880 big news at this point that we finally got a 0:05:14.920 --> 0:05:17.960 bitcoin e t F to go through, And of course 0:05:18.120 --> 0:05:21.680 that is part of what got the market so excited 0:05:21.720 --> 0:05:24.000 and blew it wide open. Now, I would definitely not 0:05:24.080 --> 0:05:26.760 say it was because of that UM. As a matter 0:05:26.800 --> 0:05:29.039 of fact, you know, the price of bitcoin has been 0:05:29.120 --> 0:05:32.000 on the rise ever since. I would say that it 0:05:32.160 --> 0:05:34.159 might be more due to a few other things. But 0:05:34.240 --> 0:05:36.880 that Bitcoin e t F is really big news, and 0:05:36.920 --> 0:05:40.080 I want to dig into that UM I think there's 0:05:40.080 --> 0:05:41.719 a lot of dangers in this e t F that 0:05:41.720 --> 0:05:43.800 a lot of people aren't aware of. I think there's 0:05:43.839 --> 0:05:46.200 a lot of dangers for individual people that they're not 0:05:46.240 --> 0:05:47.599 aware of. I think there's a lot of dangers to 0:05:47.680 --> 0:05:50.279 bitcoin UM that a lot of people aren't aware of. 0:05:50.600 --> 0:05:52.320 So I want to spend some time talking about that 0:05:52.360 --> 0:05:54.880 so you can navigate this correctly, not just for your 0:05:54.920 --> 0:05:58.760 own investments, but also UM, so you can just understand 0:05:58.760 --> 0:06:01.080 and how to sidestep this danger. But before we do that, 0:06:01.120 --> 0:06:02.640 I just kind of want to dip back into kind 0:06:02.640 --> 0:06:05.760 of this this price talk a little bit, because really 0:06:05.800 --> 0:06:08.400 we saw that that previous all time high was set 0:06:08.400 --> 0:06:11.920 back in April, so it's been basically, you know, since April, 0:06:12.000 --> 0:06:14.160 we've we've been at that price level since we hit 0:06:14.200 --> 0:06:17.560 that all time high of about sixty UM in April. 0:06:17.640 --> 0:06:21.520 We then watched the market plunge right from there and 0:06:21.560 --> 0:06:24.840 it got down, you know, dropped about fifty down into 0:06:24.839 --> 0:06:27.600 the thirty thousand range, and then it kind of bounced 0:06:27.720 --> 0:06:29.800 up and kind of sat in this like thirty two 0:06:29.839 --> 0:06:32.279 to thirty five thousand dollar range for a couple of months, 0:06:33.000 --> 0:06:39.160 basically from May eighteenth till about you know June, so 0:06:39.320 --> 0:06:41.520 about six weeks it kind of sat in that range, 0:06:41.560 --> 0:06:44.760 and I think, um, it's an understanding why the price 0:06:44.800 --> 0:06:46.960 shot back up is you kind of have to go 0:06:46.960 --> 0:06:50.839 back to why did the price drop in you know previously. Now, 0:06:50.880 --> 0:06:52.880 the first thing I would say is that, you know 0:06:53.040 --> 0:06:55.719 a lot of people are trying to figure out the price. Um, 0:06:55.760 --> 0:06:59.000 there's not always a reason why it moves every single 0:06:59.040 --> 0:07:00.640 day or every single week or whatever. You want to 0:07:00.640 --> 0:07:03.560 look at whatever timeframe, and UM, I would say, like 0:07:03.800 --> 0:07:05.360 I said, right, I'm looking at the price a little 0:07:05.360 --> 0:07:07.599 bit of a distraction, but it's still fun to try 0:07:07.640 --> 0:07:11.000 to understand this a little bit. And so um, what 0:07:11.240 --> 0:07:13.640 the big news was back when we hit that previous 0:07:13.640 --> 0:07:18.760 all time high is that China was banning bitcoin mining. 0:07:19.080 --> 0:07:21.640 That was a really big deal. They banned bitcoin mining, 0:07:21.720 --> 0:07:24.800 and so um, I actually had made a video about 0:07:24.800 --> 0:07:27.240 this on my YouTube channel where I break these subjects 0:07:27.280 --> 0:07:29.040 down with visuals my white board. If you want to 0:07:29.120 --> 0:07:30.920 check those out, just go to YouTube and type in 0:07:30.960 --> 0:07:32.960 Mark Moss. And I made a video about this and 0:07:32.960 --> 0:07:38.120 I called it China's second fatal mistake, China's second fatal mistake, 0:07:38.440 --> 0:07:41.040 and I talked about how um them kicking the bitcoin 0:07:41.120 --> 0:07:43.120 miners out of the country was going to be a 0:07:43.120 --> 0:07:46.480 fatal mistake for them. They made a big mistake. And 0:07:46.680 --> 0:07:48.480 you know a lot of people going up into that 0:07:48.560 --> 0:07:51.600 point before that happened, back in May, a lot of 0:07:51.640 --> 0:07:53.680 a lot of people would would often talk about bitcoin 0:07:53.760 --> 0:07:56.480 and say, how, um, you know, it's it's a problem 0:07:56.480 --> 0:07:58.680 because the government's could shut it down. And uh, it's 0:07:58.720 --> 0:08:02.760 also a problem because bit because China controls the majority 0:08:02.920 --> 0:08:06.200 of the mining. That was something they would always say, um. 0:08:06.240 --> 0:08:09.720 And so what was interesting is in China were trying 0:08:09.720 --> 0:08:12.680 to banned all the bitcoin mining, they literally forced all 0:08:12.680 --> 0:08:16.280 the miners to shut their equipment down and they kicked 0:08:16.280 --> 0:08:17.960 it all out. All those people had to pack up, 0:08:18.040 --> 0:08:19.840 and they had to move, and they had to leave 0:08:19.880 --> 0:08:23.840 the country. And again right they controlled over half of 0:08:23.880 --> 0:08:26.400 the networks. That was what people are afraid of. And 0:08:26.760 --> 0:08:31.560 it was a testament for how strong, how resilient bitcoin is. 0:08:31.600 --> 0:08:35.000 It was a testament because they literally shut down over 0:08:35.080 --> 0:08:37.720 half of the network literally a brute force attack, boom 0:08:37.800 --> 0:08:41.720 shut it down, and Bitcoin didn't skip a beat, didn't 0:08:41.760 --> 0:08:43.959 even skip a beat. They continued to pump out a 0:08:43.960 --> 0:08:47.520 new block every ten minutes. Of course, transaction times went 0:08:47.559 --> 0:08:49.920 slowed down a little bit, maybe transaction fees went up 0:08:49.960 --> 0:08:53.840 a little bit, but it didn't affect the network itself, 0:08:53.880 --> 0:08:56.760 but it did affect the price, and I think that 0:08:56.840 --> 0:09:00.520 was a big reason, probably the predominant reason why we 0:09:00.559 --> 0:09:02.800 saw the price dropped from that previous high all the 0:09:02.800 --> 0:09:07.040 way down, like I said about fifty now, but understanding 0:09:07.080 --> 0:09:10.080 that also helps us to know why it bounced back up. 0:09:10.120 --> 0:09:11.800 As a matter of fact, there's it's one of the 0:09:11.800 --> 0:09:14.840 two reasons that we would always look at to understand 0:09:14.840 --> 0:09:17.920 where these technologies are and more importantly um where the 0:09:17.920 --> 0:09:20.680 adoption will be and the price will be um, et cetera. 0:09:20.960 --> 0:09:22.600 And so I want to get into that. You need 0:09:22.640 --> 0:09:24.640 to understand this now. If you're just tuning in, you 0:09:24.640 --> 0:09:27.160 are listening to the Mark Mass Show, where I bring 0:09:27.200 --> 0:09:30.240 to you the latest information on bitcoin, cryptocurrencies and the 0:09:30.320 --> 0:09:33.360 decentralized revolution each and every week. Again, like I say, 0:09:33.440 --> 0:09:36.240 this is an asymmetric opportunity, and I'll be right back 0:09:36.280 --> 0:09:39.480 with this asymmetric information you need to win with bitcoin. 0:09:40.000 --> 0:09:42.360 You are back with the Markma Show where we talk 0:09:42.400 --> 0:09:47.840 about bitcoin and cryptocurrencies and the decentralized revolution come to 0:09:47.880 --> 0:09:50.040 you each and every week to bring you the latest 0:09:50.160 --> 0:09:53.280 up to up to the most current information you need 0:09:53.320 --> 0:09:55.760 so you can navigate this correctly. Now, before the break, 0:09:55.800 --> 0:09:58.080 we were talking about the price. I'll talk about how 0:09:58.120 --> 0:10:00.199 the price is a little bit of a in, a 0:10:00.240 --> 0:10:02.040 bit of a distraction. It's not something you should be 0:10:02.080 --> 0:10:05.240 focused on as an investor. If you're focusing on your 0:10:05.240 --> 0:10:07.960 portfolio on a daily, weekly, or even a monthly basis, 0:10:08.400 --> 0:10:10.320 it's not gonna work out too well for you. You 0:10:10.400 --> 0:10:12.800 need to be zoomed out. And so if you're focused 0:10:12.800 --> 0:10:14.920 on the price, you're definitely gonna be missing out on 0:10:15.000 --> 0:10:17.000 some things. But we're talking about how bitcoin got to 0:10:17.040 --> 0:10:20.800 a new all time high um and the previous high 0:10:20.920 --> 0:10:22.960 was set back in April, and I talked I was 0:10:23.080 --> 0:10:25.240 I was setting up to explain how the price of 0:10:25.240 --> 0:10:30.480 bitcoin tumbled because China destroyed half of the network, literally 0:10:30.520 --> 0:10:32.360 shut down over half of the network and force them 0:10:32.360 --> 0:10:34.000 to get out of the country. Now, if you run 0:10:34.000 --> 0:10:36.560 a business, or let's say you even run a household, 0:10:36.559 --> 0:10:39.360 but let's say that you ran a business and you 0:10:39.360 --> 0:10:41.160 have to shut yours, you know, your business was forced 0:10:41.160 --> 0:10:42.840 shut down, sort of like what happened with the pandemic 0:10:42.920 --> 0:10:46.800 last year. But guess what, you still have expenses. That's 0:10:46.840 --> 0:10:49.120 pretty difficult, right, I mean, you still got to cover 0:10:49.120 --> 0:10:51.240 your expenses. You don't have any income coming in. So 0:10:51.320 --> 0:10:53.840 what are you gonna do. Well, You're probably gonna be 0:10:53.880 --> 0:10:56.839 forced to start selling some assets, put some things on fire, 0:10:56.880 --> 0:11:00.920 cell clear out some inventory, something to try to get money. Now, 0:11:01.120 --> 0:11:04.440 imagine that times ten were Now not only are you 0:11:04.480 --> 0:11:07.440 shut down, but you literally have to pack your entire 0:11:07.559 --> 0:11:10.560 data center and move it halfway around the world. And 0:11:10.640 --> 0:11:13.000 so what happened is when those when when over half 0:11:13.000 --> 0:11:14.760 of the bitcoin network was forced to be shut down 0:11:14.760 --> 0:11:18.640 by China, they were forced to liquidate their bitcoin, right, 0:11:18.640 --> 0:11:20.520 so they sit on a bunch and their treasury reserves, 0:11:20.800 --> 0:11:23.280 and so they were dumping their bitcoin onto the market 0:11:23.280 --> 0:11:26.319 to try to raise the capital they needed to move 0:11:26.760 --> 0:11:29.200 across the world. Now, of course, as I said earlier, 0:11:29.240 --> 0:11:31.600 supply and demand. So when you have the same amount 0:11:31.640 --> 0:11:34.880 of buyers but you have an increase in supply, then 0:11:34.960 --> 0:11:37.200 typically you would expect prices to go down. And that's 0:11:37.320 --> 0:11:41.000 exactly what happened. Now, I think you know, the price 0:11:41.040 --> 0:11:44.160 of bitcoin stayed down, like I said, for about six weeks, 0:11:44.160 --> 0:11:45.640 and then it kind of jumped up and got into 0:11:45.640 --> 0:11:49.400 the forty dollar range. And then we saw something else 0:11:49.440 --> 0:11:52.240 from China. Thank you very much, China. Uh, something else 0:11:52.320 --> 0:11:55.360 from China, and that was that. About a month ago, 0:11:56.360 --> 0:11:59.920 China said it's not just enough to ban the bitcoin mining, 0:12:00.400 --> 0:12:03.520 we need to ban all cryptocurrencies. As a matter of fact, 0:12:03.760 --> 0:12:06.040 nobody in the country can do anything with cryptocurrencies. They 0:12:06.040 --> 0:12:07.520 can't buy them, they can't trade them, they can't own them, 0:12:07.520 --> 0:12:10.640 they can't do anything. And that was about six weeks ago. 0:12:10.720 --> 0:12:13.560 And since that time, since the time that they went 0:12:13.600 --> 0:12:16.720 ahead to ban it again courtesy of them, we have 0:12:16.840 --> 0:12:22.080 now seen the price of bitcoin jump up over and 0:12:22.120 --> 0:12:24.560 I think I think there's a couple of reasons why. Right, 0:12:24.559 --> 0:12:28.680 this is important to understand. So basically, what China did 0:12:28.880 --> 0:12:30.640 was they said, you don't have the right to hold 0:12:30.640 --> 0:12:32.800 your wealth in a way that we can't censor and 0:12:32.920 --> 0:12:36.440 steal and inflate away. Now when they tell you that, 0:12:37.240 --> 0:12:39.800 it kind of makes you want to find a way 0:12:39.800 --> 0:12:42.440 to do that. And so they're almost doing their own 0:12:42.480 --> 0:12:45.400 marketing or bitcoins marketing for us. And I think, um, 0:12:45.440 --> 0:12:47.600 it showed the rest of the world how important it 0:12:47.640 --> 0:12:50.240 was to get your wealth outside of their system. Um 0:12:50.280 --> 0:12:52.720 and I think also in China, it's also increased the 0:12:52.720 --> 0:12:55.439 demand not only for bitcoin. UM. I had some reports 0:12:55.440 --> 0:12:57.800 from some gold people I was talking to today and 0:12:57.840 --> 0:13:01.760 they said that gold, the gold sales, the volume of 0:13:01.760 --> 0:13:04.560 gold sales are off the chart in China. Of course, 0:13:04.600 --> 0:13:06.440 the people aren't buying gold boy on that you would 0:13:06.440 --> 0:13:08.840 typically store and you're safe. They're buying gold jewelry because 0:13:08.840 --> 0:13:10.960 that's what they have available to them, and so they're 0:13:11.000 --> 0:13:13.840 literally standing. There's long lines. At least I have been 0:13:13.840 --> 0:13:16.440 reported long lines at all the jewelry stores of people 0:13:16.480 --> 0:13:18.280 just trying to buy gold. They're trying to do anything 0:13:18.360 --> 0:13:20.600 they can to get their money out of the system. 0:13:20.679 --> 0:13:23.720 And so since that time, basically China told the world, hey, 0:13:23.840 --> 0:13:25.959 if if you don't want your government stealing your money, 0:13:25.960 --> 0:13:27.560 you should get out of the system. And since that time, 0:13:27.559 --> 0:13:31.560 Bitcoin has responded and to me, and maybe I'm just 0:13:31.760 --> 0:13:33.839 looking at this with some rose colored or we actually 0:13:33.880 --> 0:13:36.560 call them orange colored glenses and orange colored glasses. But 0:13:36.640 --> 0:13:39.959 maybe maybe it's just me, but it's like, um, maybe 0:13:40.000 --> 0:13:44.160 the world the sane, they're ready for a separation of 0:13:44.160 --> 0:13:48.200 money and state. Maybe they're ready to see the end 0:13:48.240 --> 0:13:51.360 of this government monopoly on money at least that's what 0:13:51.400 --> 0:13:53.440 the price action is telling us. And so, UM, that 0:13:53.520 --> 0:13:56.360 happened at the same time though, and so here's where 0:13:56.400 --> 0:13:59.200 we have to continue to get into this. So at 0:13:59.240 --> 0:14:01.600 the same time it's Kindah was cracking down on it, 0:14:01.679 --> 0:14:04.400 and the price of bitcoin responded. Um. People in the 0:14:04.480 --> 0:14:06.719 United States still say, oh, yeah, but the US will, well, 0:14:06.760 --> 0:14:08.880 we'll make it illegal, the US will ban it. Right, 0:14:08.880 --> 0:14:10.439 It's still I still hear that all the time. I 0:14:10.480 --> 0:14:13.440 think it's a ridiculous argument, one of dispelled many many times. 0:14:13.480 --> 0:14:15.120 As a matter of fact, I have multiple videos on 0:14:15.120 --> 0:14:18.520 my YouTube channel UM dedicated towards just answering that question. 0:14:18.559 --> 0:14:21.160 Why I don't think they could, why they couldn't, why 0:14:21.200 --> 0:14:24.360 they won't, why it would destroy the United States economy 0:14:24.400 --> 0:14:27.760 if they did, all these different topics. But at the 0:14:27.800 --> 0:14:29.480 same time, right, like I said, people still think it's 0:14:29.480 --> 0:14:32.240 going to happen in the US. But we had Jerome Powell, 0:14:32.280 --> 0:14:34.600 who's the head of the Federal Reserve of the Central 0:14:34.600 --> 0:14:37.160 Bank of the United States, and we had the head 0:14:37.160 --> 0:14:39.160 of the SEC gar Agains. They're both come out and 0:14:39.200 --> 0:14:44.600 say we will not ban it, point blank. If you 0:14:44.600 --> 0:14:47.320 need any more clear, that's about how clear they were. Um. 0:14:47.360 --> 0:14:49.480 And so they've come out and told you that they're 0:14:49.480 --> 0:14:51.120 not going to ban it. They've said that, and some 0:14:51.160 --> 0:14:53.680 people are still people don't want to believe it, and 0:14:53.680 --> 0:14:55.800 they're like, yeah, they don't really mean it to someone 0:14:55.840 --> 0:14:58.000 else is going to do it. But I think that 0:14:58.120 --> 0:15:01.440 this e t F being approved is the final nail 0:15:01.520 --> 0:15:03.560 in the coffin, Like this is like this is it 0:15:03.640 --> 0:15:06.200 Like there's just there's just no way. I mean, I 0:15:06.240 --> 0:15:08.800 don't want to say no way. I would say the probability, 0:15:09.160 --> 0:15:12.400 the probability of the government banning it at this point 0:15:12.640 --> 0:15:16.240 is just barely better than zero. Um. At this point, 0:15:16.280 --> 0:15:22.160 we have approximately fifty million Americans own bitcoin. Fifty million Americans, 0:15:22.200 --> 0:15:23.560 so that would be a big problem if they want 0:15:23.600 --> 0:15:25.840 to suck the wealth out of fifty million Americans. On 0:15:25.960 --> 0:15:28.560 top of that, um, the United States has become the 0:15:28.600 --> 0:15:31.680 biggest beneficiary of the bitcoin mining because it was all 0:15:31.760 --> 0:15:34.400 kicked out of China. A good majority of it came 0:15:34.440 --> 0:15:36.800 to the United States, mostly just in Texas, which is 0:15:36.840 --> 0:15:39.720 working to become a bitcoin state, which is a very 0:15:39.760 --> 0:15:43.360 interesting story in itself. And now we we have you know, 0:15:43.480 --> 0:15:48.080 most of Wall Street, from Fidelity to Goldman Sacks to 0:15:48.400 --> 0:15:51.320 you know, smaller players, UM, New York Stock Exchange, even 0:15:51.360 --> 0:15:55.080 you know cash app and PayPal, Vinmo, Now, etcetera. UM, 0:15:55.120 --> 0:15:58.400 they're all they've all built out Bitcoin products and services 0:15:59.000 --> 0:16:00.640 and so UM if the GUP we tried to ban it, 0:16:00.640 --> 0:16:02.720 that'ld be not only have fifty million Americans on their 0:16:03.360 --> 0:16:05.360 on their case, they'd also have all of Wall Street 0:16:05.360 --> 0:16:08.600 on their case. And now with an e t F 0:16:08.600 --> 0:16:11.640 finally approved and um, as a matter of fact, it 0:16:11.720 --> 0:16:16.280 was the second fastest growing, the second biggest e t 0:16:16.440 --> 0:16:19.280 F launch in history. And really it's kind of the 0:16:19.280 --> 0:16:22.480 biggest because the first one has an asterisk beside it. 0:16:22.480 --> 0:16:24.920 It was a carbon fund that was launched and it 0:16:24.960 --> 0:16:27.160 had a pre sell, so the pre sale kind of 0:16:27.160 --> 0:16:29.320 helped goose the numbers a little bit. UM, So it 0:16:29.440 --> 0:16:31.760 was the top one or two, let's call it, that 0:16:32.240 --> 0:16:35.000 biggest e t F s in history. And I think 0:16:35.080 --> 0:16:37.880 that just basically seals the deal. That's it. No way 0:16:37.920 --> 0:16:40.400 the government's going to make it illegal. I mean, all 0:16:40.400 --> 0:16:42.720 these things of course add up in in Bitcoin's favor. 0:16:42.760 --> 0:16:45.520 There's dozens of Senators and congress people that own it, 0:16:46.000 --> 0:16:48.480 all of Wall Street has products on it. UM, fifty 0:16:48.480 --> 0:16:51.240 million Americans own it. But today, as of today, as 0:16:51.240 --> 0:16:53.880 of this week, we now have any E t F 0:16:54.680 --> 0:16:56.640 and that's it, in my opinion, game over. And I 0:16:56.680 --> 0:16:58.920 think that so it was a combination of China shutting 0:16:58.960 --> 0:17:02.160 it down and seeing the Resolo really ziliency there and 0:17:02.960 --> 0:17:06.840 the E t F coming on board that really put 0:17:06.920 --> 0:17:09.160 this optimism back into the market and we are off 0:17:09.200 --> 0:17:11.720 to the races. Now. I don't typically talk a lot 0:17:11.760 --> 0:17:14.600 about the price, but I'm gonna talk about the price 0:17:14.600 --> 0:17:17.639 and more because it could be going some place. As 0:17:17.680 --> 0:17:20.440 a matter of fact, based off of the fun flow 0:17:20.520 --> 0:17:23.480 that's been going on in a t f UM. There's 0:17:23.560 --> 0:17:27.840 some people making some predictions that you might not even believe. 0:17:27.840 --> 0:17:29.480 And I bet you all want to know where the 0:17:29.520 --> 0:17:31.480 price of bitcoin could be by the end of the year. 0:17:31.520 --> 0:17:34.240 Let's say, by Christmas. Uh, let me just tell you. 0:17:34.320 --> 0:17:35.960 If your own bitcoin, it's going to be a very 0:17:36.040 --> 0:17:37.800 merry Christmas for you. Let me tell you that. So 0:17:37.840 --> 0:17:39.720 I'll come back, I'll tell you where I think the 0:17:39.760 --> 0:17:43.040 price could be by Christmas. We'll talk about where the 0:17:43.080 --> 0:17:45.800 price could be over the next year, two, three, four, 0:17:45.880 --> 0:17:49.639 and five years. Now, you might not believe some of 0:17:49.680 --> 0:17:50.960 these numbers. I have to report to you. But I 0:17:50.960 --> 0:17:52.879 am going to back it up with some credible information, 0:17:52.960 --> 0:17:54.879 so we'll talk about that, and then I want to 0:17:54.880 --> 0:17:57.000 dig more into this e t F because, um, like 0:17:57.040 --> 0:17:59.199 I said, there's some dangers here, not only just for you, 0:17:59.280 --> 0:18:01.720 but also danger for bitcoin overall. And I think that's 0:18:01.720 --> 0:18:04.760 important to understand. There's two different types of bitcoin e 0:18:04.840 --> 0:18:07.240 t F s. Again, you listen to the Markma Show 0:18:07.280 --> 0:18:10.840 talking about bitcoin, cryptocurrencies and the decentralized Revolution, and I 0:18:10.840 --> 0:18:13.880 will be right back. All right, welcome back. You are 0:18:13.920 --> 0:18:16.560 listening to the Mark Ma Show, where I am bringing 0:18:16.680 --> 0:18:19.480 to you each end every week the latest information, the 0:18:19.600 --> 0:18:22.880 latest news, the breaking news, the news that you need 0:18:22.960 --> 0:18:27.520 to know about bitcoin and cryptocurrencies and the decentralized revolution 0:18:27.560 --> 0:18:33.520 that's happening right now. I'm talking about the largest technological 0:18:33.600 --> 0:18:36.320 revolution we have ever seen in history. Now I'm not 0:18:36.359 --> 0:18:39.119 talking about a new technology. I'm not talking about the 0:18:39.200 --> 0:18:42.800 uber app or the iPhone. I'm talking about a technological 0:18:42.880 --> 0:18:47.280 revolution that literally changes the way humanity works. The other 0:18:47.320 --> 0:18:51.040 thing about a technological revolution is that drives financial markets. 0:18:52.080 --> 0:18:57.359 Technological revolution drives financial markets. They happen about every fifty years, 0:18:57.400 --> 0:19:00.919 the previous financial mark, the previous technological revolution was the 0:19:00.920 --> 0:19:04.440 age of the microprocessor, which led to personal computers, telecommunications, 0:19:04.440 --> 0:19:06.680 and the Internet. And of course, if you look back 0:19:06.680 --> 0:19:09.679 over the last thirty or forty years, what what's been 0:19:09.760 --> 0:19:13.000 driving the financial markets? And of course it's the telecommunications 0:19:13.080 --> 0:19:15.840 and the internet stocks, right, the things Facebook, Apple, Netflix, Google, 0:19:15.880 --> 0:19:19.000 et cetera. And if you went back to the technological 0:19:19.080 --> 0:19:23.760 revolution before that, that would be oil and automobiles, and 0:19:23.840 --> 0:19:28.600 of course Ford Chrysler GM, oil companies, etcetera. And so 0:19:28.640 --> 0:19:30.520 you get the point. And that is what we're doing. 0:19:30.880 --> 0:19:34.320 And so now we are talking about bitcoin, this technological revolution. 0:19:34.320 --> 0:19:36.679 It's going to drive the financial markets. And we're talking 0:19:36.680 --> 0:19:39.920 about the financial markets. Finally got in after like seven 0:19:40.000 --> 0:19:41.680 or eight years of trying to get their e t 0:19:41.880 --> 0:19:44.439