WEBVTT - Is The US Going To Outlaw Bitcoin?

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<v Speaker 1>So the big question is this, how do investors like

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<v Speaker 1>us get access to the ideas, information, and most importantly,

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<v Speaker 1>the right people that give us the tools of information

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<v Speaker 1>we need to make informed and educated decisions to have success.

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<v Speaker 1>That is the question, and this podcast will give us

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<v Speaker 1>the answers. This is Mark Moss, your host. Let's get

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<v Speaker 1>this started. Hello, and welcome to another episode of the

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<v Speaker 1>Market Disruptors podcast. Today we're gonna go over some of

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<v Speaker 1>the big news that's been happening over the last couple

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<v Speaker 1>of weeks, and I'm gonna answer the question that I've

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<v Speaker 1>been getting a lot. One of those has to do

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<v Speaker 1>with a lot of the regulations and a lot of

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<v Speaker 1>the talk that's been coming out of the top government

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<v Speaker 1>officials over the last couple of weeks. And just to

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<v Speaker 1>recap a little bit, I mean, we've gone in the

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<v Speaker 1>last ten years from having no such thing as cryptocurrencies

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<v Speaker 1>to having bitcoin in this you know magical internet money too,

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<v Speaker 1>then you know, being a joke being laughed at, to

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<v Speaker 1>then being called names, rat poison, fraud, scams, things like that,

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<v Speaker 1>to now having governments afraid right we have multiple countries

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<v Speaker 1>are still thinking about banning it and regulating it. We

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<v Speaker 1>have the President of the United States now tweeting about bitcoin.

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<v Speaker 1>We have the Secretary of the Treasury talking about bitcoin,

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<v Speaker 1>and it's come so far. We had the Secretary of

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<v Speaker 1>the Treasury Montion, he's talking about um bitcoin and you know,

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<v Speaker 1>they really want to run this narrative of it only

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<v Speaker 1>being used for illicit activities, which we know is false.

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<v Speaker 1>If if, if you don't know UM, it is false.

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<v Speaker 1>Bitcoin is an open ledger. That means all the transactions

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<v Speaker 1>are open for everyone to see. Now, it is somewhat anonymous. However,

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<v Speaker 1>for the most part, with modern technology that we have today,

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<v Speaker 1>with chain analysis and so forth, you can trace those

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<v Speaker 1>transactions back to find out who they belong to. So

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<v Speaker 1>it's not really private. And that's how people get busted,

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<v Speaker 1>like Ross Olbrich from Silk Out, who's serving double life

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<v Speaker 1>sentences for building a website. But that's a whole another topic.

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<v Speaker 1>But we have, you know, we have this a narrative

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<v Speaker 1>that they're trying to push that it's that it's only

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<v Speaker 1>used for a list of activities and and all it

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<v Speaker 1>does is help you know, terrorists and drug dealers and

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<v Speaker 1>things like that. And it was it was interesting that

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<v Speaker 1>he pushes that narrative even though most of its false.

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<v Speaker 1>And he was on with Joe Squawk from CNBC and

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<v Speaker 1>he said, well, as far as I know, the dollar

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<v Speaker 1>is the most used for that, and Moontion went on

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<v Speaker 1>to say that, no, it's not. The dollar has never

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<v Speaker 1>been used for nihilistid activity, which is just absolutely ridiculous.

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<v Speaker 1>We see billions and even probably trillions of dollars of

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<v Speaker 1>fines that the banks are paid for laundering money. We

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<v Speaker 1>know that dollars are still the main currency of choice

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<v Speaker 1>for any type of drug dealing or anything like that. UM,

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<v Speaker 1>So for him to come out and say such a

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<v Speaker 1>matter of factly, UM, it's just blatant lies. Right, It's

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<v Speaker 1>not even misinformation, it's just blatant lie. And it just

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<v Speaker 1>kind of shows UM, just kind of shows their true motives.

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<v Speaker 1>Right at the end of the day, it's about protecting

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<v Speaker 1>the US dollar, and so we know that the US

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<v Speaker 1>dollar is weak. I'm actually doing a two part video

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<v Speaker 1>series on YouTube right now talking about UM the history

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<v Speaker 1>of how the US dollar became the world reserve currency

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<v Speaker 1>and how it's failing right now, right before eyes. If

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<v Speaker 1>you understand the transition UM from the past when it

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<v Speaker 1>took over from Britain when the US took over from Britain,

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<v Speaker 1>and you understand how that process didn't happen overnight, but

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<v Speaker 1>over thirty years, and you understand the process that happened.

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<v Speaker 1>It actually sheds light onto what we're seeing right now today.

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<v Speaker 1>Then I'm not gonna go into all those things. If

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<v Speaker 1>you want more, go back to the go to go

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<v Speaker 1>to YouTube search Mark Moss and watch those two videos. However,

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<v Speaker 1>you know, we know that the US dollar is falling

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<v Speaker 1>in its reserve currency status. It's being challenged. It's been

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<v Speaker 1>challenged by China, Russia, and Iran since two thousand fifteen

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<v Speaker 1>with the oil um but now this year it's really

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<v Speaker 1>turned up with the you starting their Insects program, which

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<v Speaker 1>is basically a swift system. Now, the swift system is

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<v Speaker 1>how the US moves money and the world moves money

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<v Speaker 1>through the US financial system. And now with the EU

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<v Speaker 1>are allies Germany, France, etcetera, now partnering up with our

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<v Speaker 1>enemies Russia, China, Iran. The US is finding itself on

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<v Speaker 1>the outside. You know, you kick enough people out of

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<v Speaker 1>the party and eventually you're the only one there. And

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<v Speaker 1>that's kind of what we're seeing. And so you know,

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<v Speaker 1>the US is the US dollars really having this time,

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<v Speaker 1>this tough time, And that's why we see this talk

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<v Speaker 1>from Donald Trump, That's why we see this talk from Moonshin, etcetera.

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<v Speaker 1>They're really trying to protect the dollar. Now, what's because

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<v Speaker 1>of that? A lot of people are scared. A lot

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<v Speaker 1>of people in the United States are scared that. Um,

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<v Speaker 1>if they're really trying to protect the US dollar, will

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<v Speaker 1>they outlaw bitcoin? That's the question I've been getting and

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<v Speaker 1>asked a lot. Will they outlawed? What are the risks? Like?

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<v Speaker 1>What what can they do? Right? So there's a couple

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<v Speaker 1>of things that I want to say about that. First

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<v Speaker 1>of all, we know that bitcoin cannot be stopped, period.

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<v Speaker 1>That's it, right. It can't be stopped. So no one

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<v Speaker 1>can stop it. Nobody can shut it down, nobody can

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<v Speaker 1>block and prevent it. Um, nobody can see it, steal it, manipulated.

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<v Speaker 1>It can't be done, right, So we know that. However,

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<v Speaker 1>what can they do? Well, they could make it illegal

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<v Speaker 1>to own. They could definitely do that. They could say,

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<v Speaker 1>you know, if we catch you with it, it's life

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<v Speaker 1>in prison or something like that, or something even more drastic. Um.

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<v Speaker 1>So they could do something like that, but they can't

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<v Speaker 1>stop it. Now, a couple of things will say about

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<v Speaker 1>making it illegal. We'll say, first of all, you know,

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<v Speaker 1>there's lots of things that illegal. The War on drugs

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<v Speaker 1>is a great example, and they haven't done very good

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<v Speaker 1>with that. Right. Take take marijuana for example. Um, it's

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<v Speaker 1>been illegal for a long time. It's now starting to

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<v Speaker 1>become legal, but it's been illegal for a long time.

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<v Speaker 1>And now, think about marijuana. You have to grow a plant,

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<v Speaker 1>so you have to have land, and you have to

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<v Speaker 1>have lights, and you have to have like all these

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<v Speaker 1>things and room to grow this plant in the open.

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<v Speaker 1>And then you know it takes people to harvest it

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<v Speaker 1>and package it and transport and all these things, and

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<v Speaker 1>yet they can't stop it. They can't even keep it

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<v Speaker 1>out of prisons. Right. Think about bitcoin, it's digital. How

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<v Speaker 1>can they stop it. They can't even see it. Think

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<v Speaker 1>about how much easier that would be to transfer, right,

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<v Speaker 1>So they can make it illegal, That doesn't make it

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<v Speaker 1>go away. It definitely doesn't make it go away globally.

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<v Speaker 1>Maybe in the United States it might put a damper

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<v Speaker 1>in it. But I think if if people are told

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<v Speaker 1>they can't have it, it just shows the reason why

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<v Speaker 1>they need it that much more. The other thing is

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<v Speaker 1>that it's already being adopted in other countries. And so

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<v Speaker 1>you know, it's like the movie The Matrix, right, take

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<v Speaker 1>the red pillar, the blue pill. If you take the

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<v Speaker 1>red pill, you see the reality, but you can't go back.

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<v Speaker 1>And so the world has been red pilled. The world

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<v Speaker 1>has been red pill. We see, we see what bitcoin

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<v Speaker 1>can do, and it can't It can't go back, it

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<v Speaker 1>can't be unseen. And and if the United States decides

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<v Speaker 1>to shut it down, the rest of the countries will

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<v Speaker 1>jump ahead. And I'm going to talk about what other

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<v Speaker 1>countries are doing to jump ahead, but let's stay on

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<v Speaker 1>this topic for just a minute. Um. So I don't

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<v Speaker 1>see them making it illegal. I just don't see that happening.

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<v Speaker 1>Another reason why I don't see that happening is because

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<v Speaker 1>of the financial system. So you if you have to

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<v Speaker 1>understand how the way the political system works, and the

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<v Speaker 1>political system, unfortunately, is mostly bought right. So you have

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<v Speaker 1>big corporations lobbying the government to get their laws and

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<v Speaker 1>regulations passed the way they want them. So lobbying is

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<v Speaker 1>a really really big business, and being being in politics

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<v Speaker 1>is a really big business as well. Right, so you

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<v Speaker 1>have you have all these people lobbying and paying these

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<v Speaker 1>politicians to influence, um, the direction of these laws and regulations.

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<v Speaker 1>And who are the biggest donors. Who are the biggest lobbying, Well,

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<v Speaker 1>it's mostly Wall Street. It's mostly financial companies. Now I

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<v Speaker 1>know that bitcoin is really designed to get rid of them. However,

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<v Speaker 1>at this point, the financial industry has really embraced bitcoin.

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<v Speaker 1>So we have Goldman Sacks, which I would say is

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<v Speaker 1>at the top of the heap, top of the stack,

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<v Speaker 1>Goldman Sacks. If you work to Goldman Sacks, you probably

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<v Speaker 1>work in the government. If you work in the government,

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<v Speaker 1>you work in Golden Sacks. It goes back and forth. Um,

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<v Speaker 1>they're in cryptocurrencies, right, even directly and indirectly. They own

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<v Speaker 1>a company called Circle. Circle owns polonia x, which is

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<v Speaker 1>the one of the largest crypto exchanges in the US.

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<v Speaker 1>They own it. Right, So we have that. We have

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<v Speaker 1>t DM air Trade, we have Fidelity, we have e Trade,

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<v Speaker 1>we have the New York Stock Exchange. Um, we have

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<v Speaker 1>the CFTC. All of these companies have gotten into bitcoin products.

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<v Speaker 1>I would say that collectively they have spent billion at

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<v Speaker 1>least a billion or billions of dollars to get into

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<v Speaker 1>bitcoin products, trading desks, custody solutions, um except futures, etcetera, etcetera. Right, So,

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<v Speaker 1>these these companies have spent, you know, collectively a billion

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<v Speaker 1>dollars to get into these bitcoin products, and at the

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<v Speaker 1>same time they're the ones that are influencing policy in

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<v Speaker 1>the government. I just don't see that these companies spend

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<v Speaker 1>a billion dollars into a product or an asset that's

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<v Speaker 1>going away. I just don't see that happening. So, um,

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<v Speaker 1>those are a few reasons why I don't think it's

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<v Speaker 1>going to be um made illegal for US citizens. As

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<v Speaker 1>much as they want to do that, UM what I

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<v Speaker 1>would suspect they'll do, if anything, as we'll start to

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<v Speaker 1>slowly clamp down on it and regulate it and just

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<v Speaker 1>make it more and more difficult. But the problem is

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<v Speaker 1>it's the dangerous game because as the rest of the

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<v Speaker 1>world jumps ahead, then we could see the US falling

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<v Speaker 1>further and further behind. So we'll see how that plays out.

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<v Speaker 1>Now we know some of the other countries are already

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<v Speaker 1>jumping ahead. So we've seen headlines about Iran and bitcoin

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<v Speaker 1>mining in Iran. UM I've even seen headlines about Iran

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<v Speaker 1>sanctioning bitcoin mining. We've seen making headlines was Bulgaria. Bulgaria

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<v Speaker 1>somehow got into a seizure of of a bunch of bitcoin.

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<v Speaker 1>I think it was two two hundred thousand sees the

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<v Speaker 1>bitcoin that's worth about two billion dollars. So Bulgaria is

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<v Speaker 1>in on about two billion dollars worth of bitcoin. To

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<v Speaker 1>put this into perspective, Bulgaria owns a bunch of gold

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<v Speaker 1>as well, as you might imagine, as any sovereign nation would,

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<v Speaker 1>knowing about forty tons of gold, and it's worth about

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<v Speaker 1>one point seven billions. So they have bitcoin that's worth

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<v Speaker 1>more than gold. Imagine that now they've seized this. They

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<v Speaker 1>didn't necessarily buy it to add to their stockpile, but

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<v Speaker 1>they have it, and it's gonna be very interesting to

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<v Speaker 1>see what they do. I think, you know now over

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<v Speaker 1>the next year, so we'll start to see these countries

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<v Speaker 1>adding bitcoin to their strategic reserves. And at that point,

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<v Speaker 1>the game theory kicks in. Right at that point, it's

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<v Speaker 1>a race to see who can acquire the most. And

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<v Speaker 1>so that's really going to influence the United States and

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<v Speaker 1>what they're doing. And like I said, if these financial

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<v Speaker 1>institutions jumping in aren't enough. I mean it's already starting right.

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<v Speaker 1>So we have the highly anticipated BACKED. We've been waiting

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<v Speaker 1>for back to come online for quite some time and

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<v Speaker 1>Backed is is UH with the n y S, the

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<v Speaker 1>New York Stock Exchange, and they've been waiting approval for

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<v Speaker 1>a really really long time and supposedly they're now starting

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<v Speaker 1>their testing and so we're ready to get that product online.

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<v Speaker 1>And it is going to be a physically settled UM,

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<v Speaker 1>which if we have to have derivatives in the marketplace,

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<v Speaker 1>I prefer physically settled because at least you're not trading

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<v Speaker 1>with paper. At least it affects the supply and demand

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<v Speaker 1>of bitcoin because you actually have to purchase the bitcoin

0:11:20.480 --> 0:11:22.760
<v Speaker 1>to deliver it UM. So that's good news. We've been

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<v Speaker 1>waiting on BACK, and I think that's really going to

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<v Speaker 1>UM send the market higher. So we're gonna see what

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<v Speaker 1>happens with that. But you know, there's other companies that

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<v Speaker 1>have been moving faster. We have rs X and we

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<v Speaker 1>have ledger x UM they were able to secure CFTC

0:11:35.720 --> 0:11:39.640
<v Speaker 1>approvals for these physically settled contracts UM. You know, we

0:11:39.679 --> 0:11:41.480
<v Speaker 1>have some other ones as well. So the competition is

0:11:41.559 --> 0:11:43.960
<v Speaker 1>really heating up in that space, and I think it's

0:11:44.000 --> 0:11:46.679
<v Speaker 1>really gonna push bitcoin higher for the rest of the year.

0:11:46.720 --> 0:11:49.240
<v Speaker 1>So that's going to be interesting to see. UM. So

0:11:49.480 --> 0:11:51.240
<v Speaker 1>we kind of have two sides of it. We have

0:11:51.760 --> 0:11:55.200
<v Speaker 1>UM this crackdown that's coming right. We have the Trump

0:11:55.280 --> 0:11:58.720
<v Speaker 1>and and moonshin talking about it. We have UM you know,

0:11:59.440 --> 0:12:04.360
<v Speaker 1>we have a little bit more crazy representatives actually saying

0:12:04.360 --> 0:12:06.040
<v Speaker 1>they should ban it altogether, which I don't think it's

0:12:06.040 --> 0:12:08.240
<v Speaker 1>gonna happen. We have you know, the state of New

0:12:08.320 --> 0:12:11.319
<v Speaker 1>York trying to go after a bit for x um.

0:12:11.400 --> 0:12:14.080
<v Speaker 1>Now they're going after a bit next, which is a

0:12:14.120 --> 0:12:17.280
<v Speaker 1>derivative trading platform because they haven't done enough to keep

0:12:17.400 --> 0:12:20.319
<v Speaker 1>US people off of the exchanges. So we're seeing this crackdown.

0:12:20.840 --> 0:12:24.080
<v Speaker 1>But on the other side, we're seeing these financial institutions

0:12:24.160 --> 0:12:26.400
<v Speaker 1>really going full steam ahead. And I think at the

0:12:26.480 --> 0:12:29.240
<v Speaker 1>end of the day, they have more. They have they

0:12:29.240 --> 0:12:31.520
<v Speaker 1>have more say, they have all the lobbying, right, and

0:12:31.520 --> 0:12:34.280
<v Speaker 1>they're the ones that are really influencing the way this goes.

0:12:35.040 --> 0:12:36.920
<v Speaker 1>So we're gonna see, We're gonna sit back, we're gonna watch,

0:12:36.920 --> 0:12:38.800
<v Speaker 1>We're gonna report this. I'm gonna continue to bring on

0:12:39.320 --> 0:12:42.360
<v Speaker 1>um more people in the space, attorneys that can really

0:12:42.960 --> 0:12:45.600
<v Speaker 1>talk from a much higher level exactly what's going on.

0:12:46.120 --> 0:12:48.440
<v Speaker 1>But it's gonna be interesting either way. We're at a

0:12:48.559 --> 0:12:52.040
<v Speaker 1>very transitional time. I think when I think in the

0:12:52.080 --> 0:12:55.880
<v Speaker 1>future fifty or a hundred years from now, history books

0:12:55.880 --> 0:12:58.400
<v Speaker 1>will be written about this time period that we're in

0:12:58.520 --> 0:13:01.120
<v Speaker 1>right now. This time period right now is very transitional,

0:13:01.440 --> 0:13:03.319
<v Speaker 1>and I think history books are going to look back

0:13:03.360 --> 0:13:06.280
<v Speaker 1>at this time period and go, one, what the heck

0:13:06.320 --> 0:13:11.079
<v Speaker 1>were they thinking with these monetary policies, um and to um, Wow,

0:13:11.120 --> 0:13:13.960
<v Speaker 1>this is when that technology was born that really changed

0:13:14.160 --> 0:13:16.120
<v Speaker 1>the world. That's where we're at right now. That's the

0:13:16.160 --> 0:13:18.840
<v Speaker 1>transition that we're in right now. I'm just thankful and

0:13:18.840 --> 0:13:21.480
<v Speaker 1>and happy to be alive and involved in the space

0:13:21.600 --> 0:13:24.680
<v Speaker 1>right now, and hopefully you are too. So that's it.

0:13:24.720 --> 0:13:26.680
<v Speaker 1>That's what I got for the update for this week.

0:13:27.360 --> 0:13:30.280
<v Speaker 1>Hopefully that makes sense. Hopefully that's enough to catch you up.

0:13:30.360 --> 0:13:31.679
<v Speaker 1>Like I said, we'll bring on some more guests to

0:13:31.760 --> 0:13:34.320
<v Speaker 1>dive in deep on this stuff. If you haven't already,

0:13:34.360 --> 0:13:38.040
<v Speaker 1>please go give me some feedback, rate rate and review

0:13:38.080 --> 0:13:40.360
<v Speaker 1>the podcast. It really really helps out. Share it with

0:13:40.400 --> 0:13:43.040
<v Speaker 1>somebody that you think needs it, and that's it to

0:13:43.080 --> 0:13:47.080
<v Speaker 1>your success. I'm out. Hey. If you like this episode

0:13:47.080 --> 0:13:50.320
<v Speaker 1>of the Market Disruptors podcast, please help us take this

0:13:50.400 --> 0:13:52.880
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0:13:52.960 --> 0:13:56.640
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0:13:56.640 --> 0:13:59.040
<v Speaker 1>seconds to just leave a quick review goes a long

0:13:59.040 --> 0:14:02.120
<v Speaker 1>way and helping us to more people and disrupt more markets.

0:14:02.360 --> 0:14:04.720
<v Speaker 1>I really appreciate you listening and I'll see you next

0:14:04.720 --> 0:14:06.520
<v Speaker 1>time on the Market Instructors podcast.