1 00:00:00,040 --> 00:00:03,000 Speaker 1: Hello, and welcome to another episode of The Mark Moss Show, 2 00:00:03,080 --> 00:00:06,440 Speaker 1: where we're talking about bitcoin, We're talking about cryptocurrencies, and 3 00:00:06,480 --> 00:00:10,080 Speaker 1: we're talking about the decentralized revolution that we are all 4 00:00:10,240 --> 00:00:12,800 Speaker 1: living through right now, whether you whether you realize it 5 00:00:12,880 --> 00:00:15,640 Speaker 1: or not, whether you realize it or not, it's happening 6 00:00:16,280 --> 00:00:19,000 Speaker 1: and we're witnessing and a lot of people are getting 7 00:00:19,440 --> 00:00:24,120 Speaker 1: ridiculously wealthy, building wealth that could last multiple generations. I am. 8 00:00:24,200 --> 00:00:26,880 Speaker 1: The question is are you I want you to be, 9 00:00:27,160 --> 00:00:29,920 Speaker 1: which is why I'm doing this show, and which is 10 00:00:29,960 --> 00:00:31,880 Speaker 1: why you should be tuning in each and every week 11 00:00:32,440 --> 00:00:35,440 Speaker 1: so you can have the information that you need to 12 00:00:36,240 --> 00:00:39,040 Speaker 1: have the right perspective to have the long term perspective. Now, 13 00:00:39,400 --> 00:00:43,320 Speaker 1: I'm not a gambler, Um, I'm not a trader. I 14 00:00:43,360 --> 00:00:48,240 Speaker 1: don't think that the average person should be gambling away. 15 00:00:48,280 --> 00:00:52,000 Speaker 1: They're hard and an income and unfortunately, that's what we're 16 00:00:52,000 --> 00:00:54,959 Speaker 1: seeing in the marketplace today. UM. About a month ago, 17 00:00:55,080 --> 00:00:58,360 Speaker 1: we saw options trading surpass stock trading for the first 18 00:00:58,360 --> 00:01:01,520 Speaker 1: time in history. What does that mean? That means that 19 00:01:01,520 --> 00:01:04,040 Speaker 1: we're in a gambler culture right now. We're in a 20 00:01:04,040 --> 00:01:08,080 Speaker 1: gambler economy. Um. Options trading is gambling on the future 21 00:01:08,120 --> 00:01:11,959 Speaker 1: price of an asset versus stock. Investing is like buying 22 00:01:12,200 --> 00:01:14,679 Speaker 1: equity of a company, right, like warm buffet about Coca 23 00:01:14,760 --> 00:01:17,320 Speaker 1: Cola sixty five years ago because it was a great company. 24 00:01:17,360 --> 00:01:19,280 Speaker 1: It continues to pay lots of cash flow for him. 25 00:01:19,319 --> 00:01:22,280 Speaker 1: That's an asset, it's an investment. Um. Options trading is 26 00:01:22,319 --> 00:01:24,280 Speaker 1: only gambling on which way the price is going to be. 27 00:01:25,040 --> 00:01:28,600 Speaker 1: And the problem with options trading and gambling, crypto trading, 28 00:01:28,840 --> 00:01:32,280 Speaker 1: you know, meme stocks, whatever it is, it's not providing 29 00:01:32,319 --> 00:01:35,640 Speaker 1: any value to the world. Now, we're supposed to get 30 00:01:35,680 --> 00:01:38,560 Speaker 1: money for the value that we provide. If you want 31 00:01:38,600 --> 00:01:40,920 Speaker 1: to make more money, you have to provide more value. 32 00:01:41,280 --> 00:01:43,720 Speaker 1: That's the way it works. Um, I should get paid 33 00:01:43,760 --> 00:01:49,000 Speaker 1: for for solving somebody else's problem or need, right, And 34 00:01:49,040 --> 00:01:52,200 Speaker 1: that's how it works. When I got my investing career started, uh, 35 00:01:52,280 --> 00:01:54,960 Speaker 1: I was eighteen, I bought U my first house. It 36 00:01:55,040 --> 00:01:58,400 Speaker 1: was a bank owned repo at the time. Um, well 37 00:01:58,840 --> 00:02:01,600 Speaker 1: still today, but at at the time, the bank's owned 38 00:02:01,640 --> 00:02:03,919 Speaker 1: all these these houses out there with all these repossessed houses, 39 00:02:03,960 --> 00:02:06,440 Speaker 1: and a lot of times these repossessed houses got thrashed 40 00:02:06,480 --> 00:02:09,200 Speaker 1: like the people would throw you know, param up, tear 41 00:02:09,240 --> 00:02:12,600 Speaker 1: out the kitchen, tear out the floors, et cetera, and um. 42 00:02:12,600 --> 00:02:15,320 Speaker 1: The banks couldn't sell these two regular retail people because 43 00:02:15,440 --> 00:02:18,680 Speaker 1: banks won't make loans on houses that don't have kitchens 44 00:02:18,760 --> 00:02:20,560 Speaker 1: or don't have floors in them, And so they needed 45 00:02:20,639 --> 00:02:22,680 Speaker 1: somebody like me, an investor, to come in buy the 46 00:02:22,720 --> 00:02:25,799 Speaker 1: house and then fix it up, make it look brand 47 00:02:25,800 --> 00:02:27,919 Speaker 1: new again, and then it could be sold. So I 48 00:02:27,960 --> 00:02:31,720 Speaker 1: was buying it, I was providing value, and then I 49 00:02:31,760 --> 00:02:33,320 Speaker 1: was making money. So I was making money for the 50 00:02:33,400 --> 00:02:36,200 Speaker 1: value I was providing. But when you're trading stocks, you're 51 00:02:36,240 --> 00:02:39,239 Speaker 1: trading cryptocurrencies, or you're training options, you're not providing value 52 00:02:39,240 --> 00:02:40,919 Speaker 1: to anything. Are you doing? Trading one asked for another, 53 00:02:40,960 --> 00:02:43,360 Speaker 1: trading trade and trade and trade and trading um, and 54 00:02:43,400 --> 00:02:47,000 Speaker 1: so there's there's there's no value that's being provided by that. 55 00:02:47,080 --> 00:02:49,480 Speaker 1: But that's just a sign of the times that we're in, 56 00:02:51,160 --> 00:02:53,840 Speaker 1: I think for the average person. For for for every 57 00:02:53,840 --> 00:02:56,120 Speaker 1: story that you hear about somebody hitting it big and 58 00:02:56,120 --> 00:02:59,920 Speaker 1: they bought sheibu inu and made five thousand percent um, 59 00:03:00,080 --> 00:03:02,280 Speaker 1: there's another million people that bought a bunch of other 60 00:03:02,320 --> 00:03:04,200 Speaker 1: coins that didn't and they bought shebu at the top 61 00:03:04,240 --> 00:03:07,360 Speaker 1: and lost all their money and so um. There's also 62 00:03:07,400 --> 00:03:09,959 Speaker 1: stories that people win in the lottery every day. But 63 00:03:10,000 --> 00:03:11,600 Speaker 1: you don't rush out and buy all all your lottery 64 00:03:11,639 --> 00:03:13,200 Speaker 1: tickets either. Now, if you want to buy a couple 65 00:03:13,280 --> 00:03:15,520 Speaker 1: lottery tickets, you know, more power to you do that. 66 00:03:15,840 --> 00:03:17,480 Speaker 1: You want to go to Vegas and gamble a little bit, sure, 67 00:03:17,600 --> 00:03:19,639 Speaker 1: go have some fun. Right, you want to go gamble 68 00:03:19,639 --> 00:03:21,280 Speaker 1: and shebu we knew, go ahead and do that as well, 69 00:03:21,600 --> 00:03:23,160 Speaker 1: But just know what you're doing, right. You wouldn't want 70 00:03:23,160 --> 00:03:24,800 Speaker 1: to You wouldn't want to go buy You wouldn't take 71 00:03:24,880 --> 00:03:27,800 Speaker 1: all the money you have and buy lottery tickets with it. Uh, 72 00:03:27,880 --> 00:03:29,359 Speaker 1: Nor would you take all your money and go to Vegas. 73 00:03:29,400 --> 00:03:31,560 Speaker 1: But hopefully you wouldn't. And you definitely shouldn't take all 74 00:03:31,560 --> 00:03:34,800 Speaker 1: your money and go buy these risky crypto assets or 75 00:03:34,800 --> 00:03:37,440 Speaker 1: options trade either. And so really the best way is 76 00:03:37,480 --> 00:03:40,360 Speaker 1: to buy trophy assets. I'm scarce assets that are gonna 77 00:03:40,360 --> 00:03:43,880 Speaker 1: continue to go open value and you hold onto those. Um. 78 00:03:43,920 --> 00:03:46,080 Speaker 1: You know, the stock markets averaged about a six to 79 00:03:46,160 --> 00:03:48,200 Speaker 1: eight percent return, depend on if you look at it. 80 00:03:48,240 --> 00:03:50,000 Speaker 1: You know what time period you look at it, sixty years, 81 00:03:50,000 --> 00:03:53,120 Speaker 1: eighty years, etcetera. UM and bitcoin has been averaging a 82 00:03:53,200 --> 00:03:56,680 Speaker 1: two hundred percent compotent annual growth rate, which is way 83 00:03:56,680 --> 00:03:59,120 Speaker 1: better two hundreds, way better than six. But for some 84 00:03:59,160 --> 00:04:02,000 Speaker 1: reason in today's game of their economy, isn't that good anymore, 85 00:04:02,000 --> 00:04:03,560 Speaker 1: I guess, And now people need to make I need 86 00:04:03,600 --> 00:04:06,800 Speaker 1: to make two two hundred uh times on my money 87 00:04:06,840 --> 00:04:09,600 Speaker 1: in in thirty days or it's no good. And unfortunately 88 00:04:09,600 --> 00:04:13,000 Speaker 1: that's just a recipe for disaster. Um. But I want 89 00:04:13,000 --> 00:04:14,520 Speaker 1: to give you the information that you need that you 90 00:04:14,520 --> 00:04:16,960 Speaker 1: can continue to hold. I mean, I've been telling people 91 00:04:17,000 --> 00:04:18,760 Speaker 1: to buy a bitcoins since it was three hundred bucks, 92 00:04:19,520 --> 00:04:21,640 Speaker 1: when it was three thousand bucks, when it was thirty 93 00:04:21,680 --> 00:04:24,520 Speaker 1: thousand bucks, and every time it drops, people like, oh, Mark, 94 00:04:24,600 --> 00:04:25,960 Speaker 1: you told me to hold this thing, and now it 95 00:04:26,000 --> 00:04:28,760 Speaker 1: lost value. I'm mad. And it's like, oh you're mad. 96 00:04:28,800 --> 00:04:30,640 Speaker 1: It dropped all the way to two thousand, right or whatever. 97 00:04:30,720 --> 00:04:32,960 Speaker 1: But now it's in fifty six thousand. So that's what 98 00:04:33,000 --> 00:04:35,760 Speaker 1: this information is for us. Why that's it's powerful, it's important. 99 00:04:36,200 --> 00:04:37,960 Speaker 1: I do also like to say a lot of times 100 00:04:38,000 --> 00:04:42,320 Speaker 1: that the price is a distraction, right, and so we 101 00:04:42,400 --> 00:04:45,719 Speaker 1: know that it's going to continue going up, but the 102 00:04:45,720 --> 00:04:48,359 Speaker 1: short term price is a distraction. Zoomed out. We can 103 00:04:48,400 --> 00:04:50,040 Speaker 1: see the price always goes up, but short term it's 104 00:04:50,040 --> 00:04:51,200 Speaker 1: a distraction. What we want to look at is we 105 00:04:51,240 --> 00:04:52,960 Speaker 1: want to look at the growth of the network. We 106 00:04:52,960 --> 00:04:55,440 Speaker 1: want to look at the development going on the network, 107 00:04:56,040 --> 00:04:57,720 Speaker 1: and as long as we pay attention to that, as 108 00:04:57,720 --> 00:04:59,159 Speaker 1: long as those things will continue to go up, then 109 00:04:59,160 --> 00:05:03,120 Speaker 1: the price will take care of itself. And we every 110 00:05:03,240 --> 00:05:07,640 Speaker 1: day we're seeing new developments happening that are telling us 111 00:05:07,720 --> 00:05:12,160 Speaker 1: that those two numbers are going up massive. Now, something 112 00:05:12,279 --> 00:05:17,120 Speaker 1: big happened yesterday, and it's it's actually really big because 113 00:05:17,720 --> 00:05:20,320 Speaker 1: it actually coincides with something else that was really big 114 00:05:20,560 --> 00:05:25,159 Speaker 1: back in two thousand seventeen. So back in two thousand seventeen, 115 00:05:26,200 --> 00:05:31,640 Speaker 1: that was the crazy cryptocurrency bull run. From the beginning 116 00:05:31,680 --> 00:05:33,680 Speaker 1: of twenty seventeen, I think Bitcoin was like a thousand 117 00:05:33,760 --> 00:05:36,279 Speaker 1: dollars and by the end of Seen and end up 118 00:05:36,320 --> 00:05:40,640 Speaker 1: as a twenty x in twelve months, which was insane. 119 00:05:41,000 --> 00:05:44,240 Speaker 1: Ethereum did even better. Ethereum did even more than that, 120 00:05:44,880 --> 00:05:47,560 Speaker 1: and lots of smaller cryptocurrency. I had one cryptocurrency that 121 00:05:47,600 --> 00:05:50,320 Speaker 1: went up a hundred thousand percent in that time frame, 122 00:05:50,320 --> 00:05:52,240 Speaker 1: which is enough to turn five hundred bucks into five 123 00:05:52,320 --> 00:05:56,880 Speaker 1: hundred thousands insane, but things were going hot and heavy. 124 00:05:56,920 --> 00:05:59,880 Speaker 1: The market was going up, asked, you know, these cryptosis 125 00:05:59,920 --> 00:06:03,200 Speaker 1: were going sky high. Uh, it was sucking in all 126 00:06:03,279 --> 00:06:05,600 Speaker 1: kinds of speculators. And and the more it goes up, 127 00:06:05,640 --> 00:06:08,240 Speaker 1: the more money it starts sucking in, because humans were 128 00:06:08,240 --> 00:06:11,160 Speaker 1: just motivated by two things were motivated by um, rushing 129 00:06:11,200 --> 00:06:14,600 Speaker 1: to pleasure and running from pain. And so when everybody's 130 00:06:14,600 --> 00:06:17,320 Speaker 1: making money and I'm not, I want that pleasure, so 131 00:06:17,360 --> 00:06:19,720 Speaker 1: I'm rushing in. And so the more it goes up, 132 00:06:20,080 --> 00:06:22,000 Speaker 1: the more people it sucks in, which then means the 133 00:06:22,040 --> 00:06:23,640 Speaker 1: more it goes up, which means the more people sucks in. 134 00:06:23,640 --> 00:06:27,279 Speaker 1: It's kind of sulflfient prophecy. And so it continues going up. Now, 135 00:06:27,680 --> 00:06:29,919 Speaker 1: right at the top, at the end of this December 136 00:06:30,440 --> 00:06:33,640 Speaker 1: of two thousand seventeen, when the cryptocurrency markets were going 137 00:06:33,680 --> 00:06:35,919 Speaker 1: hot and heavy and everything was going on, there was 138 00:06:35,960 --> 00:06:40,440 Speaker 1: a coordinated attack, a coordinating attack that shut down the 139 00:06:40,480 --> 00:06:42,480 Speaker 1: cryptocurrency industry. And I'm sure a lot of you guys 140 00:06:42,560 --> 00:06:45,719 Speaker 1: probably know that Bitcoin went dropped from you know, nineteen 141 00:06:45,760 --> 00:06:48,880 Speaker 1: thousand down to like three thousand and Ethereum dropped and 142 00:06:49,120 --> 00:06:53,520 Speaker 1: the entire cryptocurrency market crashed in a lot of you 143 00:06:53,600 --> 00:06:56,039 Speaker 1: may not know that it was actually somewhat of a 144 00:06:56,080 --> 00:07:00,360 Speaker 1: coordinated attack. And one of the big attack vectors was 145 00:07:00,839 --> 00:07:04,240 Speaker 1: that markets stopped going up. Prices stop going up when 146 00:07:04,240 --> 00:07:07,800 Speaker 1: there's no more buyers. Markets also stopped going down when 147 00:07:07,800 --> 00:07:10,280 Speaker 1: there's no more sellers, but markets stopped going up when 148 00:07:10,280 --> 00:07:11,960 Speaker 1: there's no more buyers. So, as I'm saying, right, as 149 00:07:11,960 --> 00:07:13,720 Speaker 1: the prices are going up, it's sucking more people, and 150 00:07:13,880 --> 00:07:16,040 Speaker 1: it's sucking more people, and it's sucking more people in. 151 00:07:16,880 --> 00:07:20,160 Speaker 1: But how do those people hear about it to get 152 00:07:20,160 --> 00:07:24,840 Speaker 1: sucked in the first place? Right, Well, it's probably not 153 00:07:24,880 --> 00:07:27,320 Speaker 1: a big surprise that the majority of people are on 154 00:07:27,440 --> 00:07:33,320 Speaker 1: social media these days, Facebook, Google, etcetera, YouTube, etcetera. Right, 155 00:07:33,800 --> 00:07:37,640 Speaker 1: And so um, everyone's talking about it on social media 156 00:07:38,120 --> 00:07:41,840 Speaker 1: like like everything else. And in in in December of 157 00:07:41,880 --> 00:07:47,600 Speaker 1: two thousand seventeen, Facebook and Google banned all crypto advertising. 158 00:07:47,720 --> 00:07:51,280 Speaker 1: You couldn't advertise it at all. We'll remember, markets stopped 159 00:07:51,280 --> 00:07:53,960 Speaker 1: going up when there's no more buyers. And if no 160 00:07:54,000 --> 00:07:58,480 Speaker 1: one can advertise, how is there going to be an awareness? 161 00:07:58,480 --> 00:08:00,960 Speaker 1: And if there's no awareness, there's no new buyers coming in. 162 00:08:01,640 --> 00:08:03,160 Speaker 1: And that was one piece of the other piece of 163 00:08:03,160 --> 00:08:06,640 Speaker 1: it was that UM a lot of the banks banned 164 00:08:06,680 --> 00:08:09,800 Speaker 1: cryptocurrency U activity, so you couldn't transfer money from your 165 00:08:09,800 --> 00:08:12,880 Speaker 1: bank account to your crypto account or or use credit 166 00:08:12,920 --> 00:08:14,600 Speaker 1: cards to buy it. That was another another big piece. 167 00:08:15,120 --> 00:08:16,640 Speaker 1: A lot of people think it was because the futures 168 00:08:16,640 --> 00:08:20,240 Speaker 1: were launched in December seventeen. I don't know if that's 169 00:08:20,280 --> 00:08:22,040 Speaker 1: necessarily the case. I think it was more of this 170 00:08:22,080 --> 00:08:27,160 Speaker 1: coordinated attack. They took away the new buyers and so UM. 171 00:08:27,200 --> 00:08:30,320 Speaker 1: Since since basically the December of two seventeen, you haven't 172 00:08:30,320 --> 00:08:32,000 Speaker 1: been able to ban or you haven't been able to 173 00:08:32,040 --> 00:08:36,400 Speaker 1: advertise any type of cryptocurrency, and without that, you don't 174 00:08:36,440 --> 00:08:41,640 Speaker 1: have the buyers. But something big change this week that 175 00:08:41,720 --> 00:08:46,360 Speaker 1: changes all of that. It might be guessing what it is, 176 00:08:46,960 --> 00:08:48,319 Speaker 1: but I'm not going to give it away. I want 177 00:08:48,320 --> 00:08:50,440 Speaker 1: to tell you what that big piece of news was. 178 00:08:50,960 --> 00:08:52,680 Speaker 1: But more important, they want to give you the context 179 00:08:52,679 --> 00:08:55,720 Speaker 1: of what it's said and what I think happens from that, 180 00:08:55,760 --> 00:08:57,680 Speaker 1: because a lot of times you read the headline UM 181 00:08:57,760 --> 00:08:59,480 Speaker 1: and it's like, okay, yeah, whatever, but maybe you don't 182 00:08:59,480 --> 00:09:02,400 Speaker 1: really unders and the impact of what this means. I 183 00:09:02,480 --> 00:09:03,600 Speaker 1: want to tell you what that is. I want to 184 00:09:03,600 --> 00:09:06,000 Speaker 1: give you the context of what that is. And then 185 00:09:06,040 --> 00:09:08,400 Speaker 1: we're gonna talk about, um, the other big lever that 186 00:09:08,440 --> 00:09:10,280 Speaker 1: we need to be looking at. And there was something 187 00:09:10,320 --> 00:09:13,920 Speaker 1: else that really really really was big this week, UM 188 00:09:13,960 --> 00:09:15,640 Speaker 1: and on the other level that we should be watching 189 00:09:15,760 --> 00:09:18,200 Speaker 1: the development, So I wanna talk about that as well. 190 00:09:18,480 --> 00:09:20,040 Speaker 1: By the way, you're listening to the Mark Mo Show, 191 00:09:20,040 --> 00:09:22,240 Speaker 1: of course, we're talking about bitcoin. If you're just tuning in, 192 00:09:22,280 --> 00:09:24,320 Speaker 1: we talking about bitcoin, We're talking about cryptocurrencies. We're talking 193 00:09:24,320 --> 00:09:28,239 Speaker 1: about the decentralized revolution. We're talking about the largest asymmetric 194 00:09:28,240 --> 00:09:30,679 Speaker 1: opportunity that you will ever witness in your lifetime. And 195 00:09:30,720 --> 00:09:33,760 Speaker 1: if you get the right information, you can participate in it. 196 00:09:34,320 --> 00:09:36,480 Speaker 1: So you know, don't go away. I'll bring it back. 197 00:09:36,840 --> 00:09:39,960 Speaker 1: All right, Welcome back. You are back with me Mark Moss. 198 00:09:40,000 --> 00:09:41,880 Speaker 1: You listen to the Mark Mo Show. We're talking about bitcoin, 199 00:09:42,160 --> 00:09:45,840 Speaker 1: we're talking about cryptocurrencies, we are talking about the decentralized 200 00:09:45,880 --> 00:09:51,280 Speaker 1: revolution that we're witnessing, and we're talking about um lots 201 00:09:51,280 --> 00:09:52,839 Speaker 1: of things each and every week. We're talking about lots 202 00:09:52,840 --> 00:09:55,040 Speaker 1: of things that don't miss out. Uh, if you're not 203 00:09:55,120 --> 00:09:57,000 Speaker 1: driving and pull out your phone, put a calendar reminder 204 00:09:57,040 --> 00:10:00,000 Speaker 1: for this channel, this station, this time, and make sure 205 00:10:00,040 --> 00:10:01,920 Speaker 1: you tune in with me each and every week. It's 206 00:10:01,920 --> 00:10:03,680 Speaker 1: gonna be the most important part of your week. I 207 00:10:03,679 --> 00:10:06,400 Speaker 1: can pretty much guarantee that for you, at least over 208 00:10:06,440 --> 00:10:08,800 Speaker 1: a long period of time, it will be. So. Before 209 00:10:08,800 --> 00:10:12,040 Speaker 1: the break, we were talking about how the prices is 210 00:10:12,080 --> 00:10:14,559 Speaker 1: a distraction. I said that all the time, UM, what 211 00:10:14,600 --> 00:10:16,560 Speaker 1: we want to do is focus on the growth of 212 00:10:16,600 --> 00:10:18,640 Speaker 1: the network, and we want to focus on the development 213 00:10:18,640 --> 00:10:20,040 Speaker 1: on the network, and as long as those two things 214 00:10:20,080 --> 00:10:21,640 Speaker 1: are happening in the price will continue to take care 215 00:10:21,640 --> 00:10:25,560 Speaker 1: of itself. I was talking about how in we you know, 216 00:10:25,720 --> 00:10:29,760 Speaker 1: was the last really really crazy parabolic we call it 217 00:10:30,160 --> 00:10:33,440 Speaker 1: bull run in the cryptocurrency markets, and UM big one 218 00:10:33,480 --> 00:10:35,559 Speaker 1: went from a thousand to twenty thousand, and Ethereum and 219 00:10:35,600 --> 00:10:37,200 Speaker 1: all the other ones you know went up even higher 220 00:10:38,440 --> 00:10:41,880 Speaker 1: and UM but then in in December it was like 221 00:10:41,880 --> 00:10:45,400 Speaker 1: a coordinated attack and Facebook and Google shut down. They 222 00:10:45,480 --> 00:10:49,600 Speaker 1: banned all advertising, and markets stopped going up and there's 223 00:10:49,600 --> 00:10:52,720 Speaker 1: no more buyers. And so if you can't advertise, you 224 00:10:52,760 --> 00:10:54,600 Speaker 1: can't you don't you don't get a lot of new 225 00:10:54,600 --> 00:10:57,839 Speaker 1: buyers coming into the market. It's pretty simple. Well, this 226 00:10:57,920 --> 00:11:03,560 Speaker 1: week we saw, uh, we saw that. Facebook retreats from 227 00:11:03,600 --> 00:11:07,720 Speaker 1: the crypto ad band. Facebook on Wednesday announcedy's decision to 228 00:11:07,760 --> 00:11:12,040 Speaker 1: reverse longstanding policy that prevented cryptocurrency companies from running ads 229 00:11:12,080 --> 00:11:16,120 Speaker 1: on its services. The move comes after the company tried 230 00:11:16,200 --> 00:11:19,520 Speaker 1: and failed to launch a cryptocurrency that was intended to 231 00:11:19,559 --> 00:11:22,560 Speaker 1: send money easily across the world via the company's services. 232 00:11:23,960 --> 00:11:27,600 Speaker 1: And the company's new policy is huge for the crypto 233 00:11:27,640 --> 00:11:33,640 Speaker 1: industry and will allow more keyword, will allow more retail 234 00:11:33,679 --> 00:11:39,240 Speaker 1: investors to access cryptocurrencies than ever before. M hm. So 235 00:11:39,440 --> 00:11:42,640 Speaker 1: if markets stopped going up when there's new no more buyers. 236 00:11:43,120 --> 00:11:46,960 Speaker 1: They banned advertising, no more buyers came in, the market crashed. 237 00:11:48,240 --> 00:11:51,800 Speaker 1: Now the market's going back up and they are about 238 00:11:51,880 --> 00:11:56,160 Speaker 1: to open the floodgates. Are you kidding me? Listen to 239 00:11:56,200 --> 00:11:59,240 Speaker 1: what they said. The company's new policy is huge for 240 00:11:59,280 --> 00:12:03,040 Speaker 1: the cryptodustry and will allow more retail investors to access 241 00:12:03,040 --> 00:12:09,000 Speaker 1: cryptocurrencies than ever before. So with more buyers coming in, 242 00:12:10,720 --> 00:12:13,360 Speaker 1: let me ask you a question, um, based off of 243 00:12:13,360 --> 00:12:15,200 Speaker 1: this that I just read you, We're gonna dig into 244 00:12:15,240 --> 00:12:18,240 Speaker 1: it a little bit more. But based off this, do 245 00:12:18,280 --> 00:12:21,400 Speaker 1: you think there will be more people owning cryptocurrency in 246 00:12:21,400 --> 00:12:25,240 Speaker 1: the near future or less. Yeah, I'm guessing more, right. 247 00:12:25,960 --> 00:12:29,960 Speaker 1: And if more people try to buy a fixed, limited 248 00:12:29,960 --> 00:12:34,160 Speaker 1: amount of goods, what do you think happens? If you 249 00:12:34,280 --> 00:12:37,040 Speaker 1: guess the price goes up, then you would be guessing right. 250 00:12:37,200 --> 00:12:42,439 Speaker 1: That's exactly what happens. And so, um, let me read 251 00:12:42,480 --> 00:12:44,840 Speaker 1: that to you one more time. The company's new policy 252 00:12:44,960 --> 00:12:47,960 Speaker 1: is huge for the crypt industry and will allow more 253 00:12:48,080 --> 00:12:51,480 Speaker 1: retail investors taxes cryptocurrency, so more they think it's gonna 254 00:12:51,480 --> 00:12:52,760 Speaker 1: be more. I think it's gonna be more. I think 255 00:12:52,760 --> 00:12:54,640 Speaker 1: more people trying to cram into a limited amount of 256 00:12:54,720 --> 00:12:59,559 Speaker 1: scarce goods is going to continue pushing the prices up. 257 00:12:59,840 --> 00:13:03,840 Speaker 1: Is says that Facebook announced this decision to reverse longstanding policy. Um. 258 00:13:03,880 --> 00:13:06,560 Speaker 1: And what's interesting is that it comes after the company, which, 259 00:13:06,679 --> 00:13:09,800 Speaker 1: of course, by the way, Facebook is now called Meta. Um. 260 00:13:09,840 --> 00:13:12,000 Speaker 1: It comes after they tried and failed to launch their 261 00:13:12,000 --> 00:13:16,679 Speaker 1: own cryptocurrency. So a lot of people, you know, speculated, 262 00:13:16,720 --> 00:13:20,040 Speaker 1: including myself backen like, was this part of like some 263 00:13:20,200 --> 00:13:23,880 Speaker 1: coordinated government kind of attack where like, hey, let's ban advertising, 264 00:13:23,960 --> 00:13:26,320 Speaker 1: let's ban banking access, all those things at the same time, 265 00:13:27,360 --> 00:13:31,320 Speaker 1: or was it really a competition thing where um, they 266 00:13:31,320 --> 00:13:33,160 Speaker 1: were trying to launch their own cryptocurrency and they didn't 267 00:13:33,160 --> 00:13:35,160 Speaker 1: want anyone advertising other ones because they were trying to 268 00:13:35,200 --> 00:13:38,640 Speaker 1: slow those down so that they could launch their own. 269 00:13:39,320 --> 00:13:41,760 Speaker 1: If that makes sense, right, Like why would I allow 270 00:13:41,840 --> 00:13:44,920 Speaker 1: someone else to advertise their product on my platform that's 271 00:13:44,920 --> 00:13:47,199 Speaker 1: going to compete with my product? Like I wouldn't want that, right, 272 00:13:47,240 --> 00:13:51,480 Speaker 1: neither would you? And so that there was also speculation, 273 00:13:51,600 --> 00:13:55,480 Speaker 1: and it seems maybe that's the case because this this 274 00:13:55,520 --> 00:13:59,400 Speaker 1: move comes after the company tried and failed to launch cryptocurrency, 275 00:14:00,080 --> 00:14:03,040 Speaker 1: so UM they've kind of given up UM. The person 276 00:14:03,040 --> 00:14:04,760 Speaker 1: that was leading the charge of that, his name was 277 00:14:04,840 --> 00:14:07,440 Speaker 1: David Marcus. He announced UM this week that he was 278 00:14:07,440 --> 00:14:09,840 Speaker 1: going to leave the company at the end of the year. 279 00:14:11,200 --> 00:14:15,280 Speaker 1: And so he's leaving. They gave up, and what the heck, 280 00:14:15,360 --> 00:14:22,000 Speaker 1: let's just open up crypto cryptocurrency advertising and then UM, 281 00:14:22,080 --> 00:14:24,640 Speaker 1: let's open up the floodgates. In their own words, it's 282 00:14:24,680 --> 00:14:28,520 Speaker 1: going to bring more more retail people into the space. 283 00:14:29,120 --> 00:14:31,720 Speaker 1: I think that is going to be massive. I think 284 00:14:31,720 --> 00:14:36,760 Speaker 1: it will be very, very very massive. UM. So anyway, 285 00:14:36,800 --> 00:14:38,640 Speaker 1: that's big news. Now, remember what are the two things 286 00:14:38,680 --> 00:14:40,920 Speaker 1: that we're looking at, Not the price, we're looking at 287 00:14:40,960 --> 00:14:43,480 Speaker 1: the number of users, the growth of the network, and 288 00:14:43,560 --> 00:14:45,880 Speaker 1: the development on the network. So this is going to 289 00:14:46,160 --> 00:14:49,760 Speaker 1: increase the users, will increase the growth of the networks. 290 00:14:49,840 --> 00:14:54,240 Speaker 1: That's that's a big piece of it. Um. The other 291 00:14:54,280 --> 00:14:57,160 Speaker 1: big piece of it though, is not just the growth 292 00:14:57,160 --> 00:14:59,320 Speaker 1: of the network, but it's the development on the network. 293 00:14:59,320 --> 00:15:00,920 Speaker 1: So we want to see the development on the network, 294 00:15:00,960 --> 00:15:05,520 Speaker 1: meaning um, you know, new technologies, um, new applications. But 295 00:15:05,720 --> 00:15:09,280 Speaker 1: also we want to see like mind share development. So 296 00:15:09,320 --> 00:15:11,120 Speaker 1: what do I mean by that. I mean like attracting 297 00:15:11,200 --> 00:15:14,520 Speaker 1: the best, attracting the brightest people in the world over. 298 00:15:15,080 --> 00:15:18,920 Speaker 1: So for example, I mean we've seen some of the 299 00:15:18,960 --> 00:15:20,720 Speaker 1: brightest people in the world going to work in the 300 00:15:20,840 --> 00:15:24,760 Speaker 1: in the in the bitcoin space. Um, rumors are that 301 00:15:24,840 --> 00:15:28,240 Speaker 1: David that that David Marcus here potentially is leaving Facebook 302 00:15:28,280 --> 00:15:31,440 Speaker 1: to also go work at maybe a new bitcoin or 303 00:15:31,440 --> 00:15:34,640 Speaker 1: cryptocurrency company. We'll see what happens with that. But we 304 00:15:34,680 --> 00:15:37,320 Speaker 1: want to continue to see these bright people quitting and 305 00:15:37,360 --> 00:15:39,240 Speaker 1: leaving and coming to work on this. And so you know, 306 00:15:39,320 --> 00:15:42,920 Speaker 1: I get across my social media, get thousands of comments 307 00:15:42,920 --> 00:15:46,400 Speaker 1: every week, probably over five thousand comments weekend. I get 308 00:15:46,440 --> 00:15:49,520 Speaker 1: lots of comments that like come on, Mark, cryptocurrencies are stupid, 309 00:15:49,560 --> 00:15:52,280 Speaker 1: They're dumb, They're not backed by anything. It's a ponzi. 310 00:15:52,560 --> 00:15:54,560 Speaker 1: It's gonna be made illegal. I mean, you name it. 311 00:15:54,720 --> 00:15:56,920 Speaker 1: I've heard it all. I've heard it all thousands of times. 312 00:15:57,920 --> 00:16:00,440 Speaker 1: And uh. One of my response is that I've been 313 00:16:00,520 --> 00:16:05,320 Speaker 1: kind of given going back to lately, is like, Okay, uh, 314 00:16:05,400 --> 00:16:08,800 Speaker 1: are you smarter than all these people, because like, let 315 00:16:08,960 --> 00:16:09,960 Speaker 1: let me, let me let me fill you in on 316 00:16:10,000 --> 00:16:11,480 Speaker 1: that before we get to that question, that we get 317 00:16:11,480 --> 00:16:14,240 Speaker 1: to that answer. So we've seen some of the smartest, 318 00:16:14,320 --> 00:16:16,040 Speaker 1: some of the brightest people in the world, some of 319 00:16:16,120 --> 00:16:18,040 Speaker 1: the biggest investors in the world. Some people are like 320 00:16:18,360 --> 00:16:20,640 Speaker 1: you have a Warren Buffett and Charlie Munger and into it. 321 00:16:21,080 --> 00:16:23,200 Speaker 1: I'm like, yeah, but there are some ninety five and 322 00:16:23,280 --> 00:16:25,720 Speaker 1: like so what right, Like there are two people, but 323 00:16:25,800 --> 00:16:28,160 Speaker 1: some of the biggest and brightest investors in the world 324 00:16:28,160 --> 00:16:31,280 Speaker 1: are into it, like Stanley Druckon Miller or Ray Dalio. 325 00:16:31,480 --> 00:16:33,640 Speaker 1: Ray Dalio was actually against it, and now he's come 326 00:16:33,680 --> 00:16:36,360 Speaker 1: around it. He's realized it's actually something big and important. 327 00:16:36,600 --> 00:16:41,160 Speaker 1: Stanley druck and Miller, Ray Dalio, Paul Tutor Jones. I mean, 328 00:16:41,240 --> 00:16:43,800 Speaker 1: these are some of these are legends in the Wall 329 00:16:43,880 --> 00:16:47,840 Speaker 1: Street investing world, and they've all come onto it. We 330 00:16:47,880 --> 00:16:50,840 Speaker 1: had Ray Dalio's company, Bridgewater Capital, which is the largest 331 00:16:51,160 --> 00:16:55,760 Speaker 1: hedge fund in the world. The CFO left to go 332 00:16:55,840 --> 00:16:59,360 Speaker 1: work for a bitcoin company. So when you have the 333 00:16:59,360 --> 00:17:02,720 Speaker 1: CFO of the biggest hedge fund in the world leaving 334 00:17:03,200 --> 00:17:05,240 Speaker 1: Wall Street to go work at a bitcoin company, what 335 00:17:05,320 --> 00:17:08,600 Speaker 1: does that tell you? It tells me that it's growing 336 00:17:08,640 --> 00:17:10,919 Speaker 1: at such a rapid rate that it's sucking in the 337 00:17:11,119 --> 00:17:13,480 Speaker 1: mind share you have. As I as I've talked to 338 00:17:13,560 --> 00:17:17,000 Speaker 1: many times before, the CEO of micro Strategy, Michael Saylor, 339 00:17:17,040 --> 00:17:19,240 Speaker 1: one of the one of the smartest and very rich guy. 340 00:17:19,760 --> 00:17:23,640 Speaker 1: UM they put all their money into bitcoin. UM. He's 341 00:17:23,680 --> 00:17:25,240 Speaker 1: raised billions of dollars going to bigcoin. You have El 342 00:17:25,280 --> 00:17:28,040 Speaker 1: Salad are using bitcoin. So when you see all that 343 00:17:28,080 --> 00:17:30,400 Speaker 1: happening and you have your doubts, I get it right. 344 00:17:31,480 --> 00:17:34,800 Speaker 1: Are you smarter than all of them? You're smarter than 345 00:17:34,840 --> 00:17:36,520 Speaker 1: the smartest guys on Wall Street, You're smarter than the 346 00:17:36,520 --> 00:17:39,440 Speaker 1: smartest guys in the business space. You're smarter than nations 347 00:17:39,480 --> 00:17:44,000 Speaker 1: and governments. I'm not that I'm not that smart, and 348 00:17:44,040 --> 00:17:46,000 Speaker 1: I'm I've been studying this for a long time. Maybe 349 00:17:46,000 --> 00:17:48,480 Speaker 1: I'm just more humble. Maybe you should be more humble too. 350 00:17:48,520 --> 00:17:52,280 Speaker 1: But there's even bigger news that happened this week, and 351 00:17:52,320 --> 00:17:54,240 Speaker 1: this just kind of I don't want to put the 352 00:17:54,280 --> 00:17:56,600 Speaker 1: nail on the coffin, but it's definitely another nail in 353 00:17:56,640 --> 00:18:00,240 Speaker 1: the coffin. Um that really emphasized the point big, big, 354 00:18:00,240 --> 00:18:02,320 Speaker 1: big news that not only is big news, but also 355 00:18:02,359 --> 00:18:04,160 Speaker 1: it's going to be a massive catalyst. I wanna tell 356 00:18:04,160 --> 00:18:05,960 Speaker 1: you about that. By the way, you're listening to the 357 00:18:05,960 --> 00:18:08,119 Speaker 1: Mark mo Show. Of course, if you're just tune in 358 00:18:08,160 --> 00:18:10,320 Speaker 1: and you haven't realized, we're talking about bitcoin, We're talking 359 00:18:10,359 --> 00:18:14,520 Speaker 1: about cryptocurrencies. We're talking about the decentralized revolution that we're 360 00:18:14,560 --> 00:18:17,520 Speaker 1: witnessing right now. It's the biggest opportunity to ever have 361 00:18:17,600 --> 00:18:22,159 Speaker 1: in your lifetime. Don't go away, I'll be right back. Hello, 362 00:18:22,160 --> 00:18:24,720 Speaker 1: and welcome back. You are listening to the markma Show, 363 00:18:24,760 --> 00:18:27,360 Speaker 1: and we're talking about bitcoin, and we're talking about cryptocurrencies, 364 00:18:27,359 --> 00:18:32,840 Speaker 1: and we are talking about the decentralized revolution. It's big. 365 00:18:33,280 --> 00:18:36,000 Speaker 1: When I say decentralized revolution, I'm talking about a revolution. 366 00:18:36,240 --> 00:18:38,600 Speaker 1: I'm talking of a revolution that is going to change 367 00:18:38,720 --> 00:18:41,520 Speaker 1: the way the world works. That's what a technological revolution 368 00:18:41,560 --> 00:18:45,080 Speaker 1: does It's not a new technology that incrementally improves our 369 00:18:45,080 --> 00:18:48,119 Speaker 1: way of life. No, no, no, no, Instead, it changes 370 00:18:48,600 --> 00:18:52,480 Speaker 1: the way that the world works. Now we're talking about, um, 371 00:18:52,760 --> 00:18:56,040 Speaker 1: we're talking about news in bitcoin and cryptocurrencies, and we're 372 00:18:56,040 --> 00:18:59,000 Speaker 1: talking about how, uh, you know, ignore the short term 373 00:18:59,000 --> 00:19:01,199 Speaker 1: price and rather you at the growth of the network 374 00:19:01,240 --> 00:19:02,960 Speaker 1: and you and you look at the development on the network. 375 00:19:03,000 --> 00:19:04,560 Speaker 1: I talked about this on a weekly basis, and I'm 376 00:19:04,560 --> 00:19:06,120 Speaker 1: trying to keep you up to date on what those 377 00:19:06,160 --> 00:19:09,440 Speaker 1: developments are. Because as long as those developments are still 378 00:19:09,480 --> 00:19:11,359 Speaker 1: in play, as long as we're still growing the network, 379 00:19:11,359 --> 00:19:13,240 Speaker 1: and as long as we're still growing the development, then 380 00:19:13,240 --> 00:19:15,280 Speaker 1: don't worry about the price. Just know that things are 381 00:19:15,280 --> 00:19:17,840 Speaker 1: gonna be okay over the long run. Now, if things 382 00:19:17,840 --> 00:19:20,840 Speaker 1: suddenly turn for the worse and the development dies and 383 00:19:20,880 --> 00:19:22,960 Speaker 1: the network starts to die, well then that's another story, 384 00:19:23,080 --> 00:19:25,920 Speaker 1: and so we'll talk about that as well. But before 385 00:19:25,920 --> 00:19:28,320 Speaker 1: the break, I was talking about how there was like 386 00:19:28,320 --> 00:19:31,359 Speaker 1: this coordinated attack back in seen at the very height 387 00:19:31,359 --> 00:19:34,960 Speaker 1: when cryptocurrencies were running hotter than ever. You know, bigcoin 388 00:19:35,040 --> 00:19:38,040 Speaker 1: had gone from a thousand to twenty dollars, and cryptocurrencies 389 00:19:38,080 --> 00:19:40,639 Speaker 1: and like Ethereum had gone even up more and right 390 00:19:40,760 --> 00:19:44,680 Speaker 1: thing the December, there was this coordinated attack where Facebook 391 00:19:44,680 --> 00:19:47,200 Speaker 1: and Google shut down all advertising and markets stopped going 392 00:19:47,240 --> 00:19:49,399 Speaker 1: up when there's no more buyers, and if you can't advertise, 393 00:19:49,440 --> 00:19:51,679 Speaker 1: you don't get any more buyers. Also, the banks had 394 00:19:51,720 --> 00:19:53,600 Speaker 1: a coordinated attack where you couldn't get money into the 395 00:19:53,600 --> 00:19:56,600 Speaker 1: cryptocurrency exchanges, and so if people again couldn't buy, the 396 00:19:56,600 --> 00:19:59,960 Speaker 1: price stopped going up. Well um big news this week 397 00:20:00,600 --> 00:20:04,159 Speaker 1: was that Facebook reversed that band and they're going to 398 00:20:04,320 --> 00:20:08,800 Speaker 1: now allow companies to start advertising again. And remember markets 399 00:20:08,800 --> 00:20:11,399 Speaker 1: stopped going down when there's no more buyers. This is 400 00:20:11,440 --> 00:20:14,399 Speaker 1: about to bring a ton of new buyers into the space. 401 00:20:14,880 --> 00:20:17,439 Speaker 1: So that's good. The network is going to not just 402 00:20:17,480 --> 00:20:21,080 Speaker 1: continue to grow, but probably about to skyrocket. I mean, 403 00:20:21,119 --> 00:20:24,680 Speaker 1: it's probably about to just launch off. But we also 404 00:20:24,680 --> 00:20:26,960 Speaker 1: want to look at the development going on. I was 405 00:20:26,960 --> 00:20:28,560 Speaker 1: talking about the mind share. I was talking about the 406 00:20:28,640 --> 00:20:31,080 Speaker 1: types of people that are leaving the best jobs, the 407 00:20:31,119 --> 00:20:34,280 Speaker 1: best companies in the world and that are now coming 408 00:20:34,280 --> 00:20:37,400 Speaker 1: to work in the bitcoin um space. And so one 409 00:20:37,440 --> 00:20:39,760 Speaker 1: of the big, big, big, big big news stories this 410 00:20:39,800 --> 00:20:42,439 Speaker 1: week that really shook up the entire you know kind 411 00:20:42,480 --> 00:20:47,720 Speaker 1: of tech world. Is that one of the I don't 412 00:20:47,760 --> 00:20:50,560 Speaker 1: want to say most loved, but I don't know, one 413 00:20:50,600 --> 00:20:53,240 Speaker 1: of the big names in in in the social media world. 414 00:20:53,240 --> 00:20:57,119 Speaker 1: What will say that is Jack Dorsey's the founder of Twitter, 415 00:20:57,359 --> 00:21:02,320 Speaker 1: CEO CEO of Twitter, and and he decided to step down. 416 00:21:02,960 --> 00:21:04,919 Speaker 1: He's decided that he is no longer going to be 417 00:21:05,000 --> 00:21:08,480 Speaker 1: part of Twitter, and he wants to focus all his 418 00:21:08,680 --> 00:21:12,119 Speaker 1: time on the payments company Square, which is also his company. 419 00:21:12,600 --> 00:21:16,320 Speaker 1: Square is a massive, massive company, and he wants to leave. 420 00:21:16,480 --> 00:21:18,879 Speaker 1: He stepped down from Twitter, and now he's gonna go 421 00:21:19,000 --> 00:21:22,800 Speaker 1: work full time at Square. But more than that um, 422 00:21:22,880 --> 00:21:27,520 Speaker 1: Square is going to change its corporate name to block Block, Inc. 423 00:21:28,119 --> 00:21:30,640 Speaker 1: The company said in the statement Wednesday that Square Crypto, 424 00:21:30,760 --> 00:21:33,119 Speaker 1: which has had another division called Square Cryptos. They had 425 00:21:33,240 --> 00:21:37,359 Speaker 1: Square and then Square Crypto and Square Crypto is also 426 00:21:37,480 --> 00:21:41,280 Speaker 1: changed this name to be called Spiral and Square Crypto 427 00:21:41,400 --> 00:21:44,760 Speaker 1: previously known as Square Crypto, now called Spiral is a 428 00:21:44,800 --> 00:21:49,760 Speaker 1: subsidiary company of previously Square now block Um a subsidy 429 00:21:49,800 --> 00:21:54,840 Speaker 1: of that, and it's focused on funding bitcoin development. That's 430 00:21:55,040 --> 00:21:59,959 Speaker 1: that's its entire goal. All it does is fund bitcoin development. Now, 431 00:22:00,000 --> 00:22:01,880 Speaker 1: remember one of the two things to be watching out 432 00:22:01,880 --> 00:22:03,879 Speaker 1: for growth of the network, which we talked about with 433 00:22:03,920 --> 00:22:08,480 Speaker 1: Facebook advertising and development on the network. So one of 434 00:22:08,520 --> 00:22:11,840 Speaker 1: the best tech CEOs in the space left his job 435 00:22:12,440 --> 00:22:15,320 Speaker 1: to go work on this full time. Let me read 436 00:22:15,320 --> 00:22:21,200 Speaker 1: that again, focused on funding bitcoin? What bitcoin development? Yes, 437 00:22:21,720 --> 00:22:24,720 Speaker 1: so again that's what we want to watch. So if 438 00:22:24,760 --> 00:22:27,400 Speaker 1: we are continuing to grow the network with Facebook advertising, 439 00:22:27,400 --> 00:22:30,199 Speaker 1: and we're continuing to have development on the network, the 440 00:22:30,320 --> 00:22:34,520 Speaker 1: price will continue to take care of itself. Now, they 441 00:22:34,560 --> 00:22:38,000 Speaker 1: say the new the name alludes to spirals focus, which 442 00:22:38,080 --> 00:22:41,159 Speaker 1: of course is bitcoin as it continues to grow like 443 00:22:41,240 --> 00:22:45,200 Speaker 1: a spiral from a single point, encompassing more and more 444 00:22:45,280 --> 00:22:48,760 Speaker 1: space until it touches everything. That's what Square tweeted out. 445 00:22:50,000 --> 00:22:52,880 Speaker 1: And they want they wanted to tweet the reason why 446 00:22:52,920 --> 00:22:54,680 Speaker 1: they wanted to change the name. And this is a 447 00:22:54,760 --> 00:22:57,479 Speaker 1: key piece. And uh, a lot of you guys might 448 00:22:57,520 --> 00:23:00,760 Speaker 1: not love me after this, but I'm gonna tell you anyway. 449 00:23:00,800 --> 00:23:02,639 Speaker 1: I'm gonna read it directly from them. It says, uh, 450 00:23:03,640 --> 00:23:06,080 Speaker 1: once Square decided to rebrand, I'm reading the quote here 451 00:23:06,160 --> 00:23:08,520 Speaker 1: from their website. We knew it was time for our 452 00:23:08,600 --> 00:23:13,080 Speaker 1: own long overdue rebrand. This is Spiral's website, after all, 453 00:23:13,200 --> 00:23:16,679 Speaker 1: Square Crypto was never the best name for our team. 454 00:23:16,720 --> 00:23:19,200 Speaker 1: Having Square tied to its name drew a direct line 455 00:23:19,240 --> 00:23:22,840 Speaker 1: between the corporate benefactor, which was Square. They're supposed to 456 00:23:22,840 --> 00:23:26,760 Speaker 1: be independent. On the other hand, having Crypto in its 457 00:23:26,840 --> 00:23:30,480 Speaker 1: name led to confusion as the company is focused solely 458 00:23:30,760 --> 00:23:37,720 Speaker 1: on bitcoin. Solely on bitcoin, that's an important distinction, not Crypto. 459 00:23:37,960 --> 00:23:40,280 Speaker 1: They had the name Crypto, but they wanted to change 460 00:23:40,359 --> 00:23:43,919 Speaker 1: it from Square Crypto to Spiral to be separate from Square, 461 00:23:43,960 --> 00:23:47,680 Speaker 1: but also because the company is focused solely on bitcoin. 462 00:23:48,320 --> 00:23:52,320 Speaker 1: So we have one of the you know, best tech 463 00:23:52,600 --> 00:23:55,320 Speaker 1: CEOs in the space. Let's create a Twitter and app 464 00:23:55,359 --> 00:23:57,240 Speaker 1: that I use all the time, which, by the way, 465 00:23:57,480 --> 00:23:59,280 Speaker 1: if you're not following me on Twitter, then you should. 466 00:24:00,080 --> 00:24:02,240 Speaker 1: You can find me at the number one Mark Moss. 467 00:24:02,280 --> 00:24:05,320 Speaker 1: That's just the number one at one Mark Moss. Send 468 00:24:05,359 --> 00:24:07,160 Speaker 1: me a message let me know you heard from me here, 469 00:24:07,320 --> 00:24:09,520 Speaker 1: which I've gotten many of you guys tweeting at me, 470 00:24:09,560 --> 00:24:11,000 Speaker 1: so I appreciate that. I'd love to hear that you're 471 00:24:11,040 --> 00:24:13,240 Speaker 1: listening to the show. Make sure to ask me questions 472 00:24:13,280 --> 00:24:15,720 Speaker 1: always trying to answer them here for you. But I 473 00:24:15,760 --> 00:24:17,400 Speaker 1: used I used Twitter all the time. It's a great app. 474 00:24:17,920 --> 00:24:22,040 Speaker 1: And um, it's actually it's amazing. App I'm not gonna 475 00:24:22,040 --> 00:24:24,560 Speaker 1: get into that rabbit hole right now, but he's left 476 00:24:24,640 --> 00:24:27,119 Speaker 1: to go work, not just in the crypto space, in 477 00:24:27,280 --> 00:24:30,000 Speaker 1: the bitcoin space, I'm talking about mind share. I'm talking 478 00:24:30,000 --> 00:24:32,280 Speaker 1: about the brightest people in the world that's sucking it 479 00:24:32,320 --> 00:24:35,760 Speaker 1: in just like gravity. And uh, you know, Off often 480 00:24:35,760 --> 00:24:41,719 Speaker 1: said that I'm bullish on what happens when millions of 481 00:24:41,920 --> 00:24:47,560 Speaker 1: entrepreneurs backs are against the wall. When you have people 482 00:24:47,640 --> 00:24:50,880 Speaker 1: like Jack Dorsey coming to build on bitcoin, you better 483 00:24:50,920 --> 00:24:54,280 Speaker 1: watch out. It is going to take off. We're about 484 00:24:54,320 --> 00:24:57,800 Speaker 1: to see things change really really fast. And of course 485 00:24:57,840 --> 00:25:01,520 Speaker 1: not just not just Jack Dorsey. The whole point is 486 00:25:01,600 --> 00:25:06,359 Speaker 1: to um fund bitcoin development. So what they're doing is 487 00:25:06,800 --> 00:25:09,320 Speaker 1: um what the what? What? What? What he's building now 488 00:25:10,000 --> 00:25:12,439 Speaker 1: is um he says. I'll read it here again. So 489 00:25:12,520 --> 00:25:14,600 Speaker 1: it says in the statement block is A is a 490 00:25:14,640 --> 00:25:18,480 Speaker 1: new name, but our purpose of economic empowerment remains the same. 491 00:25:18,800 --> 00:25:21,720 Speaker 1: No matter how we grow or change. We will continue 492 00:25:21,760 --> 00:25:26,960 Speaker 1: to build tools to help increase access to the economy. 493 00:25:27,320 --> 00:25:29,960 Speaker 1: So that's the key piece there, right, We will continue 494 00:25:29,960 --> 00:25:33,479 Speaker 1: to build tools to help increase access. So what are 495 00:25:33,480 --> 00:25:36,120 Speaker 1: we trying to do? Right? We want to grow the network, 496 00:25:36,600 --> 00:25:40,520 Speaker 1: and we do that. If they build tools that increase access, 497 00:25:40,560 --> 00:25:42,760 Speaker 1: then more people can come in and more people can 498 00:25:42,800 --> 00:25:44,600 Speaker 1: develop on it, and those are the two things we 499 00:25:44,640 --> 00:25:46,480 Speaker 1: have to be paying attention to. Hopefully you're falling along 500 00:25:46,520 --> 00:25:49,560 Speaker 1: there at this point, UM, So that's really big news. 501 00:25:49,880 --> 00:25:52,879 Speaker 1: Um Square is expected to change their name legally to 502 00:25:52,920 --> 00:25:56,280 Speaker 1: block Inc. On December ten, but the company's ticker symbol 503 00:25:56,359 --> 00:25:58,240 Speaker 1: sq is not going to change. It's gonna stay the same. 504 00:25:59,160 --> 00:26:02,959 Speaker 1: And it says that Spiral is dedicated to building and 505 00:26:03,000 --> 00:26:08,280 Speaker 1: funding open source projects aimed at making bitcoin the planet's 506 00:26:08,400 --> 00:26:12,160 Speaker 1: preferred currency. All right, think about that? Maybe that again, 507 00:26:12,800 --> 00:26:16,159 Speaker 1: Spiral is dedicated to building and funding open source projects 508 00:26:16,240 --> 00:26:20,399 Speaker 1: aimed at making bitcoins the planet preferred currency. So more people, 509 00:26:20,960 --> 00:26:24,600 Speaker 1: more network growth, and more development, UM is going to 510 00:26:24,680 --> 00:26:28,520 Speaker 1: be happening. It's also like I was saying before, you know, 511 00:26:28,600 --> 00:26:30,159 Speaker 1: I mean, I get thousands of comments, and I'm sure 512 00:26:30,200 --> 00:26:34,480 Speaker 1: I got people listening now, UM saying come on, mark cryptocurrencies. 513 00:26:34,520 --> 00:26:37,720 Speaker 1: Bitcoin it's gonna be banned. It's it's it's ponzi. It's 514 00:26:37,720 --> 00:26:40,199 Speaker 1: worth nothing, there's nothing back in, it uses too much 515 00:26:40,280 --> 00:26:42,560 Speaker 1: energy or whatever whatever excuse you want to throw at it, 516 00:26:43,480 --> 00:26:45,639 Speaker 1: and I would just ask you to just check yourself 517 00:26:45,680 --> 00:26:47,720 Speaker 1: with a little bit of humility, like really, like you 518 00:26:47,800 --> 00:26:49,760 Speaker 1: just have a little bit of humility, check yourself, like 519 00:26:50,160 --> 00:26:52,919 Speaker 1: are you smarter than Jack Dorsey? Are you smarter than 520 00:26:52,960 --> 00:26:55,479 Speaker 1: Michael Sailor? Are you smarter than the president of El Salvador? 521 00:26:55,480 --> 00:26:58,560 Speaker 1: Are you smarter than Paul Tutor Jones or Stanley druccon Miller. 522 00:26:59,720 --> 00:27:03,119 Speaker 1: I'm certainly not. I believe that success leaves clues. I 523 00:27:03,160 --> 00:27:05,159 Speaker 1: believe that you follow the successful people and you do 524 00:27:05,200 --> 00:27:07,600 Speaker 1: similar things that they're doing, and you have similar results. 525 00:27:08,880 --> 00:27:11,640 Speaker 1: And when I see um CEOs like Jack Dorsey's stepping 526 00:27:11,720 --> 00:27:14,800 Speaker 1: down from the CEO role of Twitter to go work 527 00:27:14,880 --> 00:27:17,840 Speaker 1: full time in bitcoin and to go work full time 528 00:27:17,840 --> 00:27:20,760 Speaker 1: and making a bitcoin better product and more accessible to 529 00:27:20,840 --> 00:27:25,399 Speaker 1: more people, then I am extremely bullish on that. What 530 00:27:25,480 --> 00:27:28,280 Speaker 1: about you? By the way, you're listening to the Markma Show, 531 00:27:28,320 --> 00:27:30,320 Speaker 1: of course we're talking about bitcoin. If you're just tune in, 532 00:27:30,320 --> 00:27:33,159 Speaker 1: we're talking about bitcoin, We're talking about uh cryptocurrencies, we're 533 00:27:33,160 --> 00:27:37,520 Speaker 1: talking about the decentralized revolution um, which the most important 534 00:27:37,520 --> 00:27:39,040 Speaker 1: things in the world to be working on right now 535 00:27:39,119 --> 00:27:41,280 Speaker 1: in my opinion, and of course in Jack Dorsey's opinion 536 00:27:41,320 --> 00:27:42,719 Speaker 1: as well. I want to talk about some other big 537 00:27:42,760 --> 00:27:44,200 Speaker 1: stuff that's been going on with the government that you 538 00:27:44,240 --> 00:27:46,639 Speaker 1: don't want to miss, So don't go away, all right, 539 00:27:46,680 --> 00:27:49,240 Speaker 1: welcome back. You're listening to the Markma Show where we're 540 00:27:49,240 --> 00:27:53,400 Speaker 1: talking about bitcoin, of course, each and every week, Bitcoin, cryptocurrencies, 541 00:27:53,440 --> 00:27:58,760 Speaker 1: the decentralized revolution. We're talking about something massive. We're talking 542 00:27:58,760 --> 00:28:01,240 Speaker 1: about something that is going to change the world, going 543 00:28:01,280 --> 00:28:06,600 Speaker 1: to reshape the world now. Um. You know we're we've 544 00:28:06,600 --> 00:28:09,560 Speaker 1: been talking about the price, you know, being a kind 545 00:28:09,560 --> 00:28:11,119 Speaker 1: of a short term distraction, and that as long as 546 00:28:11,160 --> 00:28:13,280 Speaker 1: the network's growing, as long as development continues to happen, 547 00:28:13,320 --> 00:28:16,879 Speaker 1: that we know it's going to continue to grow. You know, 548 00:28:17,400 --> 00:28:20,080 Speaker 1: this is something that's super powerful, super important. I mean, 549 00:28:20,119 --> 00:28:22,280 Speaker 1: it's going to make the world a better place, and 550 00:28:22,320 --> 00:28:24,800 Speaker 1: not just a better place, an amazing place. I believe 551 00:28:24,840 --> 00:28:28,000 Speaker 1: that as as bad or the badst things look, as dangerous, 552 00:28:28,000 --> 00:28:30,560 Speaker 1: as dark as things seem to be right now today, 553 00:28:30,720 --> 00:28:34,720 Speaker 1: there is so much hope and prosperity in front of us. Um. 554 00:28:34,760 --> 00:28:36,679 Speaker 1: And it's all because we're gonna fix the money. We're 555 00:28:36,720 --> 00:28:39,360 Speaker 1: gonna fix the world. Um. And that's a topic that 556 00:28:39,400 --> 00:28:44,440 Speaker 1: we can dig into one another show. Um, and uh, 557 00:28:44,480 --> 00:28:48,160 Speaker 1: a lot of you listening hopefully that that resonates with you. 558 00:28:48,400 --> 00:28:52,920 Speaker 1: I know there's probably people listening right now that are going, Hey, Mark, 559 00:28:52,960 --> 00:28:55,160 Speaker 1: how can we not telling me what um n f 560 00:28:55,240 --> 00:28:57,400 Speaker 1: T to go by? Right? What about n f T 561 00:28:57,640 --> 00:29:02,200 Speaker 1: s H what's the next hot um dog coin I 562 00:29:02,200 --> 00:29:04,920 Speaker 1: can buy or whatever? Right? And um, you know, I 563 00:29:05,040 --> 00:29:07,840 Speaker 1: might as well tell you what sports game? What what 564 00:29:07,920 --> 00:29:09,720 Speaker 1: NFL game to bet on this weekend? Right? Or what 565 00:29:09,800 --> 00:29:11,760 Speaker 1: lottery numbers you should go play? I mean that's that's 566 00:29:11,800 --> 00:29:14,040 Speaker 1: basically what that is. And you know, while there's obviously 567 00:29:14,080 --> 00:29:15,520 Speaker 1: a lot of money to be made there and and 568 00:29:16,120 --> 00:29:17,240 Speaker 1: you know a lot of people are having some fun 569 00:29:17,240 --> 00:29:18,800 Speaker 1: with it and it's cool tech and and and then 570 00:29:18,840 --> 00:29:20,600 Speaker 1: there's gonna be some things there. I'm not putting that 571 00:29:20,640 --> 00:29:22,880 Speaker 1: down at all as a matter of fact. I mean 572 00:29:22,960 --> 00:29:25,720 Speaker 1: I'm I'm actually recording from Miami right now. And in 573 00:29:25,800 --> 00:29:28,440 Speaker 1: Miami there's Art Week, and part of art Week was 574 00:29:28,480 --> 00:29:30,680 Speaker 1: also there's n f T things going on. And I 575 00:29:30,680 --> 00:29:32,240 Speaker 1: went down and hung out with some people down there 576 00:29:33,400 --> 00:29:35,680 Speaker 1: and talking to a bunch of people and they're like, oh, yeah, 577 00:29:35,760 --> 00:29:37,880 Speaker 1: n f T this, n f T that, And it's cool, 578 00:29:37,960 --> 00:29:39,400 Speaker 1: you know, like the time. Oh, we can do n 579 00:29:39,440 --> 00:29:41,560 Speaker 1: f T real estate n f T s in real estate. 580 00:29:41,640 --> 00:29:43,520 Speaker 1: I'm like, okay, explain that to me. How does that work? Well, 581 00:29:43,560 --> 00:29:45,480 Speaker 1: we we take we take you know, take a property, 582 00:29:45,520 --> 00:29:48,040 Speaker 1: and then we return into tokens and and they're they're 583 00:29:48,120 --> 00:29:49,440 Speaker 1: h n f T s and people can buy those. 584 00:29:50,600 --> 00:29:52,840 Speaker 1: I'm like, okay, So like, but like I can own 585 00:29:52,840 --> 00:29:56,000 Speaker 1: an apartment building in a in an LLC or or corporation, 586 00:29:56,000 --> 00:29:57,479 Speaker 1: and then I could create a bunch of shares and 587 00:29:57,560 --> 00:29:59,800 Speaker 1: sell the shares to right, yeah, but this is a 588 00:29:59,800 --> 00:30:01,360 Speaker 1: it's I share with n f T. I'm like, but 589 00:30:01,400 --> 00:30:04,200 Speaker 1: it's the same thing, right, Yes, the same thing. So 590 00:30:04,320 --> 00:30:05,480 Speaker 1: you can call it a n f T, you can 591 00:30:05,520 --> 00:30:06,840 Speaker 1: call it a share, you can call a stock, you 592 00:30:06,840 --> 00:30:08,320 Speaker 1: can call it token, you call it whatever you want. 593 00:30:08,360 --> 00:30:11,960 Speaker 1: It doesn't change things, right, it's not. It's not changing things. 594 00:30:12,040 --> 00:30:13,720 Speaker 1: And it's not that not even technical n f T 595 00:30:13,800 --> 00:30:15,280 Speaker 1: s Because if I create a if I take an 596 00:30:15,320 --> 00:30:18,440 Speaker 1: apartment building, and if ID into tokens and sell Hunter 597 00:30:18,480 --> 00:30:20,520 Speaker 1: tokens or Hunter thousand tokens or a million tokens, all 598 00:30:20,520 --> 00:30:23,000 Speaker 1: of those tokens are actually fungible. That means each token 599 00:30:23,080 --> 00:30:25,600 Speaker 1: is exchangeable for one of the token. They're not even 600 00:30:25,720 --> 00:30:27,280 Speaker 1: n f t s. So there's a lot of buzz 601 00:30:27,280 --> 00:30:29,160 Speaker 1: words you need to be careful of. Um. And hey, 602 00:30:29,200 --> 00:30:30,640 Speaker 1: I'm all for it, man, I'm all for I'm all 603 00:30:30,680 --> 00:30:35,200 Speaker 1: about freedom, about freedom of choice, freedom of expression, and um, 604 00:30:35,240 --> 00:30:36,760 Speaker 1: you know, if you want to go gamble or do whatever, 605 00:30:36,920 --> 00:30:39,800 Speaker 1: you know, I'm all for that. Um, you want to 606 00:30:39,840 --> 00:30:41,840 Speaker 1: buy art and collectible is great, you know, go buy 607 00:30:41,960 --> 00:30:43,920 Speaker 1: art and collectibles. I have nothing against that. It's just 608 00:30:43,920 --> 00:30:46,640 Speaker 1: not going to change the world. It's just it's just 609 00:30:46,680 --> 00:30:48,720 Speaker 1: not going to change the world. That's that's the thing. 610 00:30:50,440 --> 00:30:54,520 Speaker 1: And um, you know, I want to change the world. 611 00:30:54,920 --> 00:30:59,800 Speaker 1: We're we're literally witnessing the technology that is going to 612 00:31:00,040 --> 00:31:04,520 Speaker 1: prove the world by so many measures that we can't 613 00:31:04,520 --> 00:31:08,280 Speaker 1: even barely comprehend. And so well it's cool while you 614 00:31:08,320 --> 00:31:11,040 Speaker 1: know you could instead of owning, you know, a share 615 00:31:11,080 --> 00:31:12,959 Speaker 1: of Tesla stock in your e trade account, now you're 616 00:31:13,000 --> 00:31:14,680 Speaker 1: share of Tesla stock still in the trade, but now 617 00:31:14,720 --> 00:31:16,360 Speaker 1: it's on a blockchain. I mean, doesn't change that you 618 00:31:16,400 --> 00:31:19,000 Speaker 1: still in Tesla stock, does it. It's not life changing, right, 619 00:31:19,520 --> 00:31:21,800 Speaker 1: I'm talking about changing the world, man, and that and 620 00:31:21,840 --> 00:31:23,360 Speaker 1: that's and that's why we're not You won't hear me 621 00:31:23,480 --> 00:31:25,800 Speaker 1: telling you what you know, ape to go by n 622 00:31:25,880 --> 00:31:28,640 Speaker 1: F T or whatever. So we're talking about bitcoin, you know, 623 00:31:28,640 --> 00:31:31,600 Speaker 1: we'll talk about the cryptocurrency markets. Um. And uh. You 624 00:31:31,600 --> 00:31:34,640 Speaker 1: know bitcoin has been going up a two compounded annual 625 00:31:34,640 --> 00:31:38,240 Speaker 1: growth rate per year. I think it can continue doing 626 00:31:38,240 --> 00:31:40,080 Speaker 1: that for quite a while. Um. Some of the some 627 00:31:40,160 --> 00:31:42,160 Speaker 1: of the brightest people in the world that can continue 628 00:31:42,200 --> 00:31:44,640 Speaker 1: doing that for a decade. UM. I think it's got 629 00:31:44,720 --> 00:31:46,240 Speaker 1: an easy tent X in front of it in the 630 00:31:46,280 --> 00:31:48,240 Speaker 1: next five years. And shoot, if I can text my 631 00:31:48,280 --> 00:31:50,840 Speaker 1: money in five years, I'll take that all day of 632 00:31:50,960 --> 00:31:53,840 Speaker 1: the week. Problem is, in today's world, that's not enough 633 00:31:53,880 --> 00:31:56,600 Speaker 1: for some people, but hopefully for you it is because 634 00:31:56,640 --> 00:31:57,800 Speaker 1: not only can you, not only do you have a 635 00:31:57,800 --> 00:32:01,440 Speaker 1: potentially text opportunity in front of you, you can also 636 00:32:01,480 --> 00:32:04,120 Speaker 1: make the world a better place. But we're gonna have 637 00:32:04,160 --> 00:32:06,320 Speaker 1: to fight for it. We're gonna have to fight for it. 638 00:32:06,800 --> 00:32:09,840 Speaker 1: The leaders, I'm not going to call them elites. I 639 00:32:09,880 --> 00:32:11,760 Speaker 1: don't like that word anymore. They're not elites. I wouldn't 640 00:32:11,800 --> 00:32:13,480 Speaker 1: hire any of those people that run any of my companies. 641 00:32:13,520 --> 00:32:16,120 Speaker 1: They're not elite. They're not a leader anything. Their leaders 642 00:32:16,200 --> 00:32:18,040 Speaker 1: they're they're kind of they're kind of set in policy. 643 00:32:18,440 --> 00:32:21,480 Speaker 1: They're not gonna wanna allow change to happen. As a 644 00:32:21,520 --> 00:32:24,200 Speaker 1: matter of fact, they've been coming out against it heavily. 645 00:32:24,880 --> 00:32:27,000 Speaker 1: We saw, you know, Christine Laguarde, formerly of the I 646 00:32:27,120 --> 00:32:28,880 Speaker 1: m F, now she works at the ECB, the European 647 00:32:28,880 --> 00:32:31,880 Speaker 1: Central Banks. She said that innovation is a threat to 648 00:32:32,320 --> 00:32:36,000 Speaker 1: our financial stability. No no, no, no, no, no no. 649 00:32:37,240 --> 00:32:41,640 Speaker 1: Innovation is a threat to their financial monopoly. It's not 650 00:32:41,720 --> 00:32:43,960 Speaker 1: a threat to the financial stability. It's a threat to 651 00:32:44,040 --> 00:32:47,560 Speaker 1: their stranglehold. We saw this week Hillary Clinton came out 652 00:32:48,400 --> 00:32:54,160 Speaker 1: saying bitcoin, um undermines the financial system. We saw the 653 00:32:54,200 --> 00:32:57,440 Speaker 1: I m F. I'm sorry, the the Bank of England 654 00:32:57,560 --> 00:33:01,160 Speaker 1: came out and said, uh, Wren, Wren to El Savador, Hey, 655 00:33:01,240 --> 00:33:06,320 Speaker 1: this this, this could destabilize the financial system, and so um. 656 00:33:06,360 --> 00:33:08,800 Speaker 1: You know what I would say to that is that, um, 657 00:33:09,120 --> 00:33:12,880 Speaker 1: you have this entire financial system that's protected by the 658 00:33:12,920 --> 00:33:16,400 Speaker 1: largest military in the world and the largest bureaucratic system 659 00:33:16,400 --> 00:33:19,120 Speaker 1: in the world, and the largest financial system in the world, 660 00:33:19,640 --> 00:33:22,000 Speaker 1: and Wall Street and the dollar reserve system in the 661 00:33:22,000 --> 00:33:25,800 Speaker 1: eurosystem and all of that, and they're worried about an 662 00:33:25,800 --> 00:33:31,120 Speaker 1: open source piece of code undermining that all the might 663 00:33:31,240 --> 00:33:34,760 Speaker 1: of the power of the mightiest army and military in 664 00:33:34,760 --> 00:33:36,360 Speaker 1: the history of the world, with all the people and 665 00:33:36,400 --> 00:33:40,960 Speaker 1: all that, and an open source piece of code. So 666 00:33:41,000 --> 00:33:44,040 Speaker 1: I would just keep that into perspective and be prepared 667 00:33:44,120 --> 00:33:46,720 Speaker 1: for UM, you know a lot of this. UM. I don't. 668 00:33:47,240 --> 00:33:49,160 Speaker 1: I don't want to use the word disinformation, but it is. 669 00:33:49,200 --> 00:33:52,640 Speaker 1: It's disinformation, um that that's coming out. So this week 670 00:33:52,640 --> 00:33:54,320 Speaker 1: there's an article I'm just kind of looking at here 671 00:33:54,360 --> 00:33:59,320 Speaker 1: and it's bitcoin mining is growing dirtier than coal. Big 672 00:33:59,720 --> 00:34:02,400 Speaker 1: here comes the bitcoin fud. Watch out. It's gonna boil 673 00:34:02,440 --> 00:34:05,000 Speaker 1: the oceans, it's gonna it's gonna ruin the air, it's 674 00:34:05,040 --> 00:34:08,160 Speaker 1: gonna ruin the environment, and blah blah blah, blah blah. 675 00:34:08,280 --> 00:34:09,960 Speaker 1: And the one thing I would just say to this 676 00:34:10,040 --> 00:34:12,120 Speaker 1: is it's it's it's it's an easy answer. And so 677 00:34:12,239 --> 00:34:15,040 Speaker 1: I want to just address this piece because this is 678 00:34:15,040 --> 00:34:17,800 Speaker 1: one of the biggest attack vectors that I think bitcoin faces, 679 00:34:18,480 --> 00:34:20,880 Speaker 1: because everything is going to becoming a climate emergency at 680 00:34:20,880 --> 00:34:25,080 Speaker 1: this point, and so bitcoin the single biggest expense is 681 00:34:25,320 --> 00:34:27,320 Speaker 1: by electricity. I have to mind, right, they're saying that 682 00:34:27,400 --> 00:34:30,600 Speaker 1: used toomuch electricity. I have to buy electricity, and that's 683 00:34:30,640 --> 00:34:32,800 Speaker 1: my biggest expense, and so to make more profit, I 684 00:34:32,800 --> 00:34:35,720 Speaker 1: have to get my electricity costs down. Most of bitcoin 685 00:34:35,920 --> 00:34:39,120 Speaker 1: is mining on electricity that costs about five cents or less. Now, 686 00:34:39,120 --> 00:34:41,800 Speaker 1: in California in the summer, you're paying about forty cents 687 00:34:41,840 --> 00:34:44,759 Speaker 1: per killer. What hour um for mining on bitcoin you 688 00:34:44,800 --> 00:34:47,279 Speaker 1: need to be about five cents or less. Now in 689 00:34:47,280 --> 00:34:49,480 Speaker 1: some places it's it's two and a half cents or 690 00:34:49,520 --> 00:34:52,239 Speaker 1: three cents. Now, how the heck do you get three 691 00:34:52,280 --> 00:34:56,280 Speaker 1: cent power when it's forty cents in California, Well, it's easy. 692 00:34:56,840 --> 00:34:58,680 Speaker 1: The reason why you get three cent power is because 693 00:34:58,719 --> 00:35:01,880 Speaker 1: it's power that nobody's using. It's power that's being wasted. 694 00:35:01,920 --> 00:35:05,239 Speaker 1: It's power that would be completely wasted if it wasn't 695 00:35:05,239 --> 00:35:07,759 Speaker 1: being used. That's why it's so cheap. It's not cheap 696 00:35:07,760 --> 00:35:10,200 Speaker 1: in California because there's too much demand for it. But 697 00:35:10,280 --> 00:35:13,040 Speaker 1: in some places they built a new um energy source, 698 00:35:13,080 --> 00:35:15,920 Speaker 1: a new hydro electric dam or something, and there's nobody 699 00:35:16,000 --> 00:35:18,319 Speaker 1: using the power, and so hey, we'll give it away 700 00:35:18,320 --> 00:35:20,239 Speaker 1: for practically free if it does come, take it right, 701 00:35:20,560 --> 00:35:23,360 Speaker 1: And so bitcoin is you pick up the miners, you 702 00:35:23,400 --> 00:35:25,719 Speaker 1: move them anywhere you want in the world, and you 703 00:35:25,800 --> 00:35:28,480 Speaker 1: go to where the power is the cheapest. And then 704 00:35:28,480 --> 00:35:30,560 Speaker 1: where the power is the cheapest is where the power 705 00:35:30,640 --> 00:35:35,480 Speaker 1: is wasted. So there's a huge, huge, huge amount of 706 00:35:35,520 --> 00:35:40,360 Speaker 1: power energy that's being wasted every single year because of 707 00:35:40,440 --> 00:35:42,280 Speaker 1: you know, projects that were built and there's just not demand, 708 00:35:42,320 --> 00:35:44,319 Speaker 1: not enough demand there, you know, for whatever reason, the 709 00:35:44,360 --> 00:35:47,279 Speaker 1: town never grew um or whatever, right, and so there's 710 00:35:47,280 --> 00:35:50,800 Speaker 1: just all this excess demand our supply, and so bitcoin 711 00:35:50,880 --> 00:35:53,040 Speaker 1: just moves there and you use that up. So is 712 00:35:53,040 --> 00:35:55,359 Speaker 1: it used a lot of energy, Yes, but it's not 713 00:35:55,640 --> 00:35:57,759 Speaker 1: using it's not stealing energy from people that need it, 714 00:35:57,800 --> 00:36:01,360 Speaker 1: like in California. It's only using energy that's being completely 715 00:36:01,360 --> 00:36:04,160 Speaker 1: wasted and was already going to be wasted even if 716 00:36:04,160 --> 00:36:07,839 Speaker 1: bitcoin didn't go there and use it um. And so 717 00:36:08,000 --> 00:36:10,000 Speaker 1: just keep that in mind. We can we there's there's 718 00:36:10,000 --> 00:36:12,840 Speaker 1: a lot of ways that actually bitcoin will even improve 719 00:36:12,960 --> 00:36:15,840 Speaker 1: the energy system and actually could drive the cost of 720 00:36:16,160 --> 00:36:20,560 Speaker 1: energy down for everybody and even make renewable energy work. 721 00:36:20,640 --> 00:36:23,480 Speaker 1: Renewable energy as a disaster on its own, because it's intermittent, 722 00:36:23,520 --> 00:36:26,280 Speaker 1: it's unreliable, but there's ways that we could use bitcoin 723 00:36:26,320 --> 00:36:29,680 Speaker 1: to even make it more reliable. And so just keep 724 00:36:29,680 --> 00:36:31,920 Speaker 1: that in mind whenever you hear this fud uh if 725 00:36:31,960 --> 00:36:34,759 Speaker 1: you're if you're uncertain in doubt, UM that UM it 726 00:36:34,840 --> 00:36:36,960 Speaker 1: doesn't waste energy. As a matter of fact, it only 727 00:36:37,160 --> 00:36:40,560 Speaker 1: uses wasted energy. It's a different way to look at it. 728 00:36:41,040 --> 00:36:44,040 Speaker 1: In UH, in Texas, they're using flared off natural gas, 729 00:36:44,040 --> 00:36:46,320 Speaker 1: which is typically just either burned into the atmosphere or 730 00:36:46,360 --> 00:36:48,919 Speaker 1: vented in the atmosphere, which is probably not very good, 731 00:36:48,920 --> 00:36:50,759 Speaker 1: and now they're capturing it and using it, so it's 732 00:36:50,760 --> 00:36:53,680 Speaker 1: actually a net good and not bad. So that's a 733 00:36:53,800 --> 00:36:55,759 Speaker 1: that's some good information. I just saw this article came 734 00:36:55,760 --> 00:36:57,680 Speaker 1: out this week and it's a constant attack factor. I 735 00:36:57,719 --> 00:36:59,520 Speaker 1: wanted to fill you in on that, and I just 736 00:36:59,560 --> 00:37:01,600 Speaker 1: want to keep giving you the information each and every 737 00:37:01,640 --> 00:37:04,839 Speaker 1: week so you can profit from the Bitcoin revolution. That's here. 738 00:37:05,160 --> 00:37:06,759 Speaker 1: Of course, you listen to the Mark Mass Show. We're 739 00:37:06,800 --> 00:37:10,279 Speaker 1: talking about the bitcoin revolution, we're talking about cryptocurrencies, we're 740 00:37:10,280 --> 00:37:14,440 Speaker 1: talking about the decentralized revolution. Bringing you the most up 741 00:37:14,480 --> 00:37:17,120 Speaker 1: to date information you need each and every week. It's 742 00:37:17,160 --> 00:37:19,400 Speaker 1: the most profitable part of your week. Thanks for listening.