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Speaker 1: But the governments are just gonna make bitcoin illegal, right. Well,

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Speaker 1: that's the number one thing that I've heard for any

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Speaker 1: of you that don't believe in bitcoin's future. It seems

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Speaker 1: to be the most common excuse or objection I would say.

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Speaker 1: And you know, it's understandable because of course governments hate competition.

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Speaker 1: But as I've argued for years, who are they like?

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Speaker 1: The government is not a monolith, and there's some governments

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Speaker 1: that are not on the US dollar that are more

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Speaker 1: for it, like Elsavador, and there's certainly ones on the

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Speaker 1: US dollar that are certainly against it. But even inside

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Speaker 1: the government, there's differences of opinions, and so we're seeing

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Speaker 1: this play out in real time. Just last week, the

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Speaker 1: US government, the House, passed a bill that changes all

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Speaker 1: of this. It takes away the mystery, takes away the debate,

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Speaker 1: and the risk of owning bitcoin is now gone. So

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Speaker 1: in this video, I'm going to break down the specific

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Speaker 1: threats bitcoin has been facing, what the US government just

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Speaker 1: did to secure bitcoin's future, how this impacts the future

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Speaker 1: of bitcoin and its users, and of course how you

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Speaker 1: and I should be thinking of this as bitcoin investors.

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Speaker 1: So let's go, all right, Welcome back, if you knew

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Speaker 1: the channel, my name is Mark Moss. I make these

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Speaker 1: videos to of course change the way you think about money,

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Speaker 1: and I started this channel to talk about bitcoin. I've

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Speaker 1: been talking about bitcoin NonStop since about twenty sixteen. You've

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Speaker 1: seen me talking about bitcoin on all the biggest stages

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Speaker 1: around the world. And as I've talked to thousands and

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Speaker 1: tens of thousands, I've seen thousands of comments just a

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Speaker 1: week coming across my videos. Almost the number one comment

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Speaker 1: is always that the government they they will ban bitcoin.

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Speaker 1: And like I said, it's understandable. But like I said,

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Speaker 1: first of all, who are they that are going to

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Speaker 1: make this illegal? So is it they who have control

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Speaker 1: over the dollar like the US? Okay, but what about

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Speaker 1: they who don't have the dollar? Right? Which government is

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Speaker 1: going to win the race for the dollars? So there's

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Speaker 1: a lot of this, right, But we've seen that there

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Speaker 1: are specific attacks, and so it's easy to understand who

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Speaker 1: they are, the people who are attacking bitcoin. And so,

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Speaker 1: for example, in the United States and most of the West,

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Speaker 1: we saw in twenty seventeen what was called choke point

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Speaker 1: one point zero. It's actually what got me on YouTube

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Speaker 1: in the first place. I was writing a cryptocurrency newsletter.

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Speaker 1: I was running ads on Facebook and Google for it.

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Speaker 1: And as bitcoin went from about one thousand dollars in

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Speaker 1: January of twenty seventeen to about twenty thousand dollars in

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Speaker 1: December of twenty seventeen simultaneously in a coordinated attack, instantly

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Speaker 1: we had a couple of things happen. Choke point one

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Speaker 1: point oh one. We saw banks and credit cards were

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Speaker 1: not allowing money to go from your bank to the

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Speaker 1: cryptocurrency exchanges. So if you can't buy it, that's that's

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Speaker 1: pretty bad. It's going to go down. Number two again,

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Speaker 1: running ads on Facebook and Google. At the time they

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Speaker 1: banned all advertising about cryptocurrencies. So that was choke point

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Speaker 1: one point oh And now we've seen choke point two

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Speaker 1: point oh coming, which is sort of the same thing.

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Speaker 1: In my fund, I have a fund called the Bitcoin

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Speaker 1: Opportunity Fund, and because bitcoin is in the name, as

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Speaker 1: investors were sending money to our fund, a lot of

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Speaker 1: the banks block that because bitcoin was the name. I

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Speaker 1: even had somebody working for me, a contractor, and in

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Speaker 1: the name of their corporation had the word bitcoin. And

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Speaker 1: I was using a payment service called VEM and VEM

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Speaker 1: shut down my entire account because I was sending money

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Speaker 1: to somebody had bitcoin in their name. So we've seen

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Speaker 1: plenty of attacks, right I'm I'm not saying there's not

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Speaker 1: chwok point one point zero point two point Oh, those

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Speaker 1: are real. We saw the FTX scandal all that that

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Speaker 1: happened there, and more recently we've seen Elizabeth Warren inside

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Speaker 1: the government and Gary Ginsler on both basically the sort

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Speaker 1: of techsars in the Bide administration have been very anti cryptocurrency.

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Speaker 1: As a matter of fact, Elizabeth Warren is literally running

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Speaker 1: on an anti crypto campaign. But just like there's lots

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Speaker 1: of dark spots, there's also been lots of bright spots

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Speaker 1: going on as well. And so we've seen the political

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Speaker 1: wins sort of shifting, if you will, and we've seen

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Speaker 1: them happening from a local level, a state level, and

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Speaker 1: all the way up to a federal level. So sort

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Speaker 1: of like it's supposed to be done in the United States,

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Speaker 1: we have a decentralized form of Government's supposed to be

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Speaker 1: a republic and the states are supposed to be independent,

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Speaker 1: and this is the way we've seen it happen in

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Speaker 1: other areas. So let's just take take an example of

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Speaker 1: like marijuana. It was it was illegal federally, it was

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Speaker 1: legal in every state, but then one state in the

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Speaker 1: US decided to legalize marijuana, and then a second state,

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Speaker 1: and then a third state, and now we're at the

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Speaker 1: point where President Biden is saying that they want to

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Speaker 1: legalize it, and so we see the states starting to

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Speaker 1: adopt it and it moves up to a federal level.

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Speaker 1: And that's exactly the path that bitcoin seems to be taking.

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Speaker 1: So when China banned bitcoin mining, all of the bitcoin

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Speaker 1: miners had to leave China. A big majority of them

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Speaker 1: came to the United States, with Texas and other energy

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Speaker 1: rich states being the big beneficiary of this. So they

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Speaker 1: moved into Texas with cheap energy across the bacon shell.

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Speaker 1: We saw them up into Oklahoma and North Dakota, Wyoming,

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Speaker 1: et cetera. And of course they liked that and that

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Speaker 1: started to shift the political wins. We saw Governor Abbott

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Speaker 1: of Texas, he was quick to jump on this. In

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Speaker 1: June of twenty twenty one, he tweeted out that Texas

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Speaker 1: will be the crypto leader, and most other of the

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Speaker 1: Red states seemed to follow. We're paying attention. We seem

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Speaker 1: to have red states and blue states doing almost the

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Speaker 1: exact opposite, whether it comes down to banking or pandemic

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Speaker 1: laws and evenyptocurrencies like this, So the red states are

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Speaker 1: all following suit. We saw Kentucky offer tax breaks for

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Speaker 1: miners to come to the state. We saw Virginia sign

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Speaker 1: groundbreaking bill clearing the way for banks to hold customer's

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Speaker 1: crypto assets. In Idaho, they passed the Digital Assets Act

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Speaker 1: that created a broad framework for cryptocurrency regulation. We saw

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Speaker 1: in Idaho that new law specifically excludes virtual currencies from

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Speaker 1: regulation under state securities laws. So they're putting laws in

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Speaker 1: place that basically prevent the government from encroaching. We'll come

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Speaker 1: back to more on that in a minute. We saw Washington,

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Speaker 1: the state of Washington, sign a new law establishing the

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Speaker 1: Washington State Blockchain Work Group, and they aimed at new

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Speaker 1: technology and establishing partnerships between the state and the industry.

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Speaker 1: In Utah, in March, Republican Governor Spencer Cox signed a

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Speaker 1: bill that allows state and local governments to accept payments

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Speaker 1: in cryptocurrencies. I mean, there's a lot of things going

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Speaker 1: on in a lot of the states that I don't

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Speaker 1: want to go through them all but North Dakota, Oklahoma, Wyoming, Nebraska,

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Speaker 1: they are all getting on board. But it wasn't just

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Speaker 1: the states. Then we saw the finance industry get involved.

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Speaker 1: We saw Blackrock, we saw Fidelity, two of the largest

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Speaker 1: asset managers in the world, jumped on and started offering

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Speaker 1: bitcoin ETFs. Now I'm no fan of Blackrock. I've been

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Speaker 1: very vocal called them the evil Empire if you will.

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Speaker 1: They've done lots of things like ESG policies that I

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Speaker 1: don't agree with, using your money against you if you will. However,

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Speaker 1: Blackrock is sort of this semi quasi arm of the government,

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Speaker 1: and if they're launching a bitcoin ETF, what do you

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Speaker 1: think the chances the government's going to make that illegal

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Speaker 1: and shut them out? Almost none. So what if Blackrock

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Speaker 1: was really put there by the government to start pulling

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Speaker 1: in a bunch of bitcoin. A lot of people think

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Speaker 1: that now Blackrock has some control over the network, and

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Speaker 1: maybe it sort of was sort of seemed like that

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Speaker 1: in a sense where maybe they want us to own

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Speaker 1: bitcoin through Blackrock through an ETF, but we don't actually

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Speaker 1: own it, we don't actually have custody of it. You

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Speaker 1: see in a debt based monetary system like we live

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Speaker 1: in this world today. They don't want you to own anything.

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Speaker 1: As a matter of fact, we really can't own anything.

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Speaker 1: For example, pay your house off free and clear cash. Well,

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Speaker 1: if you don't pay your monthly payments to the government

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Speaker 1: for your taxes, you're gonna lose it. What about the

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Speaker 1: money in your bank, Well, you don't own that legally. Legally,

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Speaker 1: that money is owed to you by the bank. It's

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Speaker 1: a big deal, big difference. What about stocks you own, Apple, Tesla, Google, whatever, No,

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Speaker 1: you don't. That stock is owed to you from your broker,

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Speaker 1: and the gold in your ETF is owed to you

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Speaker 1: from the ETF, and they want the bitcoin in the

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Speaker 1: ETF to be owed to you as well. So we're

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Speaker 1: seeing this happening. We're seeing increased attacks by again Elizabeth

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Speaker 1: Warren and Gary Ginsler, and it seemed like to me

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Speaker 1: the latest attack is going to be on self custody. Okay, okay,

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Speaker 1: So we're not going to outright ban bitcoin, but what

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Speaker 1: we could do is we could take away your right

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Speaker 1: to own it outright, just like they do with all

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Speaker 1: the other assets. Okay, but here's where things get good.

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Speaker 1: So the state of Oklahoma came out with a brand

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Speaker 1: new bill called Okay HB three five nine four. This

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Speaker 1: bill now protects the fundamental bitcoin right. This bill was

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Speaker 1: signed into law by Governor Kevin Stitt and it's going

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Speaker 1: to go into effect this year in November one, twenty

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Speaker 1: twenty four. And basically, under the bill, Oklahoma bans the

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Speaker 1: restricting of Let me break that down, they ban the

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Speaker 1: government being able to restrict or outlaw the use of

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Speaker 1: the self custody of digital assets using a self hosted

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Speaker 1: wallet or hardware wallet. So basically, they're guaranteeing your right

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Speaker 1: to own it. Now, let me break this down. Now,

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Speaker 1: if you're not in the United States, maybe this doesn't

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Speaker 1: make sense to you. Basically, in the United States, or

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Speaker 1: as we call it, the Land of the Free, we

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Speaker 1: are free people. This means we are free to do

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Speaker 1: what we want. Laws do not give us freedoms. Laws

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Speaker 1: do not tell us what we can do. Laws take

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Speaker 1: away our freedoms. Laws tell us what we cannot do.

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Speaker 1: And so when it comes down to like the United

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Speaker 1: States Constitution, the Constitution of the United States is not

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Speaker 1: laws that tell us what to do, but rather they

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Speaker 1: are laws that prohibit the government from encroaching and taking

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Speaker 1: away our laws. And so in fear that the government

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Speaker 1: could try to take away our right pas to have

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Speaker 1: bitcoin or custody bitcoin, the state of Oklahoma passed a

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Speaker 1: bill to prevent the government from taking away that right.

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Speaker 1: But that's just the state. Now. Remember, just like marijuana,

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Speaker 1: we talked about going from states to federal and this

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Speaker 1: is exactly what's happened under now what's called FIT or

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Speaker 1: FIT twenty one twenty one. I don't know, maybe for

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Speaker 1: the twenty one or the two point one for the

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Speaker 1: twenty one million bitcoin that we have, but it was

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Speaker 1: just passed last week in the US House. This is

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Speaker 1: HR four seven sixty three, and it's basically what's called

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Speaker 1: the Financial Innovation and Technology for the twenty first Century Act,

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Speaker 1: And surprisingly it seems to have many provisions for again

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Speaker 1: self custody. As a matter of fact, in section one

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Speaker 1: oh five d one, it's called the Self Custody Maintenance

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Speaker 1: and it basically protects our ability to self custody. It says, quote,

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Speaker 1: this section explicitly prevents FNCEN Financial Crimes Enforcement Network from

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Speaker 1: issuing any rule or order that would prohibit US individuals

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Speaker 1: from maintaining hardware or software wallets. So basically what this

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Speaker 1: me is that you can securely store your digital assets

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Speaker 1: without any fear of new regulations forcing you to rely

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Speaker 1: on third party custodians. In section one oh five D

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Speaker 1: one transactional freedom or basically it's freedom ton transact it

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Speaker 1: ensures that individuals can freely conduct transactions with their digital

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Speaker 1: assets for any lawful purpose. Now, this protection is vital

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Speaker 1: for maintaining the fluidity for the autonomy of personal digit

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Speaker 1: asset management. Okay, so as you can see, your rights

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Speaker 1: have now been guaranteed. Well, not one hundred percent, but

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Speaker 1: they're almost there. I mean at least in Oklahoma. But

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Speaker 1: in the United States, the House has passed this. It

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Speaker 1: hasn't quite got through the Senate yet, so we'll see

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Speaker 1: how that goes. I'm going to keep you updated now

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Speaker 1: while I'm at at real quick, I do just want

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Speaker 1: to shout out to the show sponsor, which is Treasure

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Speaker 1: Hardware Wallets. If you want to secure your bitcoin, which

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Speaker 1: is now guaranteed your right by Oklahoma law and hopefully

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Speaker 1: soon US law, you should custody your own bitcoin, don't

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Speaker 1: trust it on exchange. I've lost up to now millions

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Speaker 1: of dollars of bitcoin. By doing that, you want to

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Speaker 1: custody at your own with a hardware wall like Treasures,

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Speaker 1: get secure as your key. You plug it into your computer.

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Speaker 1: When you want to sign a transaction, you unplug it

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Speaker 1: and put it in your safe when you're done. I've

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Speaker 1: used Treasure forever now, about seven years, because I think

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Speaker 1: it's the easiest one. I think it's the safest one.

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Speaker 1: It's open source code, so you can trust what's on there,

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Speaker 1: so check it out. There's a link down below if

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Speaker 1: you want to save some money on a Treasure, which

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Speaker 1: I highly recommend, check that out. But I do want

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Speaker 1: to let you know this isn't all the way through

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Speaker 1: federally yet, but it's not the most important piece. What's

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Speaker 1: important is the direction that we're going. Right, we've seen

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Speaker 1: it go through the States. Now we're seeing it go

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Speaker 1: through the House, and now it has to go through

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Speaker 1: the Senate. But at this point we're chipping away. And

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Speaker 1: more importantly, we're not just chipping away. What we're doing

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Speaker 1: is we're what's called crossing the chasm. Now what does

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Speaker 1: that mean crossing the chasm? Well, you've probably seen this

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Speaker 1: upside down chart or this bell curve that you see

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Speaker 1: on the screen right here. And basically this is called

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Speaker 1: the diffusion of innovation. And so when any new innovation

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Speaker 1: comes out, it has stages of adoption. So you have

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Speaker 1: the innovators, the people that invented it. Then you have

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Speaker 1: what's called the true believers. These are the nerds that

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Speaker 1: adopt the new technology first. But before the early majority

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Speaker 1: can come in, there's a gap. It's called the chasm,

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Speaker 1: and that has to be crossed before the early majority

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Speaker 1: comes in. And that chasm is where something has to

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Speaker 1: change mentally, where people their mindset shifts about it. So

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Speaker 1: today a lot of people still think that the government

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Speaker 1: will make it legal, or that it's just a fad

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Speaker 1: that's going to go away, or that there's no use case.

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Speaker 1: But now the government has made it legal, but it's

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Speaker 1: going to go away. Well then why have black Rock

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Speaker 1: and federalities spent billions of dollars to bring in these ETFs? Oh,

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Speaker 1: but there's no use case? Then why do we see

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Speaker 1: the most use is cases of bitcoin being done in

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Speaker 1: third world countries where they need to get around sanctions.

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Speaker 1: So all of these arguments are basically out the window

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Speaker 1: at this point, which is crossing the chasm, which then

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Speaker 1: means the early majority is ready to start pouring in.

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Speaker 1: So what does this mean for us? How should we

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Speaker 1: be thinking about this? If we want to buy bitcoin,

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Speaker 1: or a bitcoin investor, we save in bitcoin or whatever

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Speaker 1: that is. Well, the way I look at this is

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Speaker 1: that there's the way professional investors look at this is

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Speaker 1: as a risk adjusted return. What does that mean? You see,

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Speaker 1: most amateurs just think about how much money can I make?

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Speaker 1: But if you're on Wall Street running a hedge fund,

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Speaker 1: you don't think about it in terms of that. What

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Speaker 1: you think about it is in terms of a risk

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Speaker 1: adjusted return. You see, a hedge fund will never enter

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Speaker 1: a position without knowing what their loss is. That's the

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Speaker 1: term hedge fund. They're hedging their positions. And so to

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Speaker 1: be a more sophisticated investor, you have to start thinking

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Speaker 1: about not just the total return, but the return based

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Speaker 1: off of the risk that you're entering into. So what

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Speaker 1: do I mean by that? For example, when I started

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Speaker 1: buying bitcoin in twenty fifteen, it was three hundred dollars.

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Speaker 1: Now that sounds great, and you'd be like, dang, if

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Speaker 1: I could just buy a three hundred dollars, I'd put

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Speaker 1: so much money into it. But at that time, it

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Speaker 1: was so risky. We didn't know what it was. It

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Speaker 1: had just gone to one thousand dollars and crashed all

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Speaker 1: the way back down. We didn't know if it would

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Speaker 1: ever become anything. We didn't know if bitcoin or any

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Speaker 1: of the other fifty thousand well there was about two

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Speaker 1: or three thousand cryptocurrency at the time, would win. We

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Speaker 1: didn't know any of this, and so the risk was

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Speaker 1: so high you could only put a little bit of

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Speaker 1: money in. By twenty seventeen we had to launch of futures.

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Speaker 1: By the CME futures, it had got a lot bigger,

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Speaker 1: had recovered from that crash, so the risk went down,

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Speaker 1: but you couldn't buy it three hundred aymore. Now you'd

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Speaker 1: be buying a five thousand or twenty thousand. And so

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Speaker 1: what we're seeing is as the risk goes down, the

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Speaker 1: price goes up. Now we have a saying in bitcoin

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Speaker 1: that everybody will buy at the price they deserve, which

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Speaker 1: sounds a little bit mean, but basically the way it's

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Speaker 1: working is that as the risk goes down, we pay

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Speaker 1: higher and higher. And at this point, if you still

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Speaker 1: think there's risk of the government making it illegal, if

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Speaker 1: you still think there's risk of no use case. If

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Speaker 1: you still think that the public won't catch on to it,

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Speaker 1: then you haven't been paying attention. And that's fine. You

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Speaker 1: can wait until it gets to a million dollars, which

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Speaker 1: I think it'll get there by twenty thirty, the risk

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Speaker 1: will be gone, but so will the alpha, so will

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Speaker 1: the premium. And where do I think it's going? Well,

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Speaker 1: if you want to know where I think it's going

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Speaker 1: to go and the math in order to get there,

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Speaker 1: then you might want to watch this video right here.

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Speaker 1: I'm going to break down exactly where it's going to go,

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Speaker 1: and you're not going to believe it. But that's what

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Speaker 1: I got for this video. Let me know what you

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Speaker 1: think in the comments down below. Give me thumbs up

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Speaker 1: if you like the video. If you don't thumbs down,

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Speaker 1: that's okay, but at least tell me why in the

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Speaker 1: comments down below. And that's what I got to your success.

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Speaker 1: I'm out