WEBVTT - The Mark Moss Show Oct 11, 2021 0:00:00.160 --> 0:00:03.640 You are now listening to the Mark Moss Show, and 0:00:03.720 --> 0:00:06.680 I am bringing to you the latest information on bitcoin, 0:00:07.120 --> 0:00:11.760 cryptocurrencies and the d centralized revolution. What I'm calling literally 0:00:11.920 --> 0:00:14.880 the biggest opportunity we've ever seen in our lives, and 0:00:14.960 --> 0:00:18.800 not just our lifetimes, but I'm talking about multiple generations. Now. 0:00:18.840 --> 0:00:22.160 This is the biggest asymmetric opportunity we've ever seen, which 0:00:22.200 --> 0:00:25.439 means that there is more upside than downside. Of course, 0:00:25.480 --> 0:00:28.400 that's what we want, right, the odds stacked in our favor. Now. 0:00:28.440 --> 0:00:32.080 The only way to get these asymmetric opportunities where we 0:00:32.159 --> 0:00:35.000 have that odds stacked in our favor, is to have 0:00:35.040 --> 0:00:38.519 asymmetric information, which means you have information that most people 0:00:38.640 --> 0:00:41.680 don't have yet, which is exactly what I'm going to 0:00:41.760 --> 0:00:43.880 bring to you each and every week to make sure 0:00:43.920 --> 0:00:46.520 that you do not miss out on the biggest opportunity 0:00:46.600 --> 0:00:48.960 you'll ever see in your lifetime. Now. I know that 0:00:48.960 --> 0:00:52.920 seems like a big claim, right, I mean, bitcoin cryptocurrencies, Um, 0:00:53.000 --> 0:00:55.040 is it a fad? Is it a joke? You know? 0:00:55.200 --> 0:00:58.360 Is it magic? Internet money? And all these different things. 0:00:58.400 --> 0:01:01.600 So I understand that you might have of all those questions, 0:01:01.680 --> 0:01:03.440 but you know the one thing that you have to 0:01:03.520 --> 0:01:06.800 keep in mind is that we aren't looking at just 0:01:06.880 --> 0:01:10.040 a new technology. A new technology would be like an iPhone, 0:01:10.240 --> 0:01:12.760 it would be like Uber Airbnb. Those are technologies and 0:01:12.760 --> 0:01:15.120 those are cool and and they change, you know, they 0:01:15.160 --> 0:01:17.000 change the way that we kind of work and interact 0:01:17.000 --> 0:01:20.120 in the world. And that's cool. I'm talking about a 0:01:20.200 --> 0:01:23.800 technological revolution, all right, We're talking about something different here. 0:01:23.959 --> 0:01:28.120 A technological revolution changes the way humanity works. I'm talking 0:01:28.160 --> 0:01:30.800 about the industrial revolution. I'm talking about steam engines, I'm 0:01:30.800 --> 0:01:34.680 talking about electricity, I'm talking about automobiles, I'm talking about microprocessors. 0:01:35.040 --> 0:01:36.800 And now we have this one. Now it's important to 0:01:36.840 --> 0:01:39.199 understand with each one of these is that it's always 0:01:39.240 --> 0:01:42.640 a different family getting rich. Right. So you you've heard 0:01:42.640 --> 0:01:45.360 the names obviously forward from the automobiles, and you've you've 0:01:45.400 --> 0:01:48.280 heard of bezos, um, you know in the or or 0:01:48.680 --> 0:01:51.040 jobs in the in the computer age. You hear about 0:01:51.680 --> 0:01:54.640 you know, the Rockefeller family and the oil and whatnot. 0:01:54.800 --> 0:01:57.600 So it's always a different family. And when we have 0:01:58.080 --> 0:02:01.840 a new technological revolution, like right now, it's your opportunity 0:02:01.880 --> 0:02:05.080 to put your family's name in that place. And that 0:02:05.280 --> 0:02:07.640 is how big this is. And so we'll talk about 0:02:07.640 --> 0:02:10.680 that um this week. The big news, of course, if 0:02:10.680 --> 0:02:14.239 you're paying attention anyway, is that bitcoin um has hit 0:02:14.720 --> 0:02:17.000 some highs, some high levels that we have not seen 0:02:17.080 --> 0:02:19.519 in about five months as a matter of fact at 0:02:19.520 --> 0:02:21.359 the time, and I'm talking to you right now, we're 0:02:21.360 --> 0:02:26.000 seeing bitcoin right around the fifty five thousand dollar price 0:02:26.120 --> 0:02:30.760 range than dollars, and that's for one bitcoin. Now, a 0:02:30.800 --> 0:02:32.080 couple of things that I want to point out real 0:02:32.160 --> 0:02:37.160 quickly before we dive into this. First off, one entire 0:02:37.320 --> 0:02:41.679 whole bitcoin is fifty five dollars. But a bitcoin is 0:02:41.760 --> 0:02:43.720 kind of like a dollar in a sense. So a 0:02:43.840 --> 0:02:49.680 dollar is divisible into one hundred cents, right um, So 0:02:49.720 --> 0:02:52.160 you could buy a penny's worth of a dollar right up, 0:02:52.280 --> 0:02:55.600 dollars a hundred cents, and a bitcoin is a hundred 0:02:55.680 --> 0:03:00.919 million sets, so similar, it's divisible. So what that means 0:03:01.000 --> 0:03:03.760 is that you don't have to buy you don't have 0:03:03.800 --> 0:03:06.360 to have fifty five thousand, you as dollars to buy 0:03:06.400 --> 0:03:09.320 a bitcoin. You can buy one dollar's worth. As a 0:03:09.400 --> 0:03:13.560 matter of fact, you could get five cents worth of bitcoin. 0:03:13.600 --> 0:03:15.600 As a matter of fact, if you joined us last 0:03:15.639 --> 0:03:18.240 week on the Mark Moss Show, then you might have 0:03:18.480 --> 0:03:21.080 been hearing about us talking about a new feature that 0:03:21.160 --> 0:03:24.720 was put into Twitter where now people on Twitter can 0:03:24.760 --> 0:03:28.520 send bitcoin um instantly and for pretty much free, across 0:03:28.560 --> 0:03:30.920 the Lightning network to each other. And so it was 0:03:31.000 --> 0:03:32.880 just released a week ago at the time when I 0:03:33.160 --> 0:03:36.080 put the last show out, and over the course of 0:03:36.080 --> 0:03:38.480 the week, I've been getting tips, and it's amazing to 0:03:38.480 --> 0:03:40.680 get tips. By the way, if you're on Twitter, follow 0:03:40.720 --> 0:03:43.600 me one Mark Moss, one Mark Watson. If you can 0:03:43.720 --> 0:03:45.600 send me a tip, that'd be great. But um, I've 0:03:45.600 --> 0:03:48.240 been getting tips, you know, a dollar tips, three dollar tips, 0:03:48.240 --> 0:03:50.080 some five dollar tips. But I've also been getting some 0:03:50.240 --> 0:03:54.080 five cent tips in bitcoin, and so that illustrates my 0:03:54.120 --> 0:03:55.760 point that I want to just tell you right now. 0:03:55.800 --> 0:03:57.560 A lot of people think that bitcoin is too expensive. 0:03:57.880 --> 0:04:01.120 I don't have fifty, so I'm gonna go find a 0:04:01.160 --> 0:04:04.200 cryptocurrency that's cheaper that I can buy. But that's not 0:04:04.240 --> 0:04:07.400 how it works, all right, Don't don't get caught up 0:04:07.400 --> 0:04:09.960 in the price of a whole bitcoin um and try 0:04:10.000 --> 0:04:13.040 to go find a cheaper coin instead. Um. You can 0:04:13.080 --> 0:04:16.120 buy five cents or one dollar or a hundred dollars 0:04:16.160 --> 0:04:19.240 or whatever amount that you want. So now that's cleared up. UM. 0:04:19.240 --> 0:04:23.560 So Bitcoin has gotten back up to dollars. It hasn't 0:04:23.600 --> 0:04:27.440 been at that level since May about May twelve, so 0:04:27.480 --> 0:04:31.799 about five months ago. Now, Bitcoin is the largest cryptocurrency 0:04:31.800 --> 0:04:34.080 and so it kind of drags the whole market with it. 0:04:34.160 --> 0:04:37.360 So while Bitcoin is up big time, we also see 0:04:37.360 --> 0:04:41.600 the other major cryptocurrencies ethereum, et cetera. They're all pumping 0:04:41.680 --> 0:04:46.160 and doing well as well. Now why that's the one 0:04:46.200 --> 0:04:48.960 question that everybody wants to ask, And I would just 0:04:49.040 --> 0:04:52.280 typically say, we don't always have to have a reason 0:04:53.440 --> 0:04:56.720 why prices go up and prices go down. UM. In 0:04:56.800 --> 0:05:01.080 my opinion, I think that UM price is a distraction. 0:05:01.640 --> 0:05:03.719 And what do I mean by that, Well, when you're 0:05:03.720 --> 0:05:08.280 invested into a brand new technology, especially a technological revolution 0:05:08.400 --> 0:05:12.520 like bitcoin or like cryptocurrencies, are the price, especially on 0:05:12.520 --> 0:05:14.560 a daily basis or on a short term basis, are 0:05:14.680 --> 0:05:18.200 just a distraction, all right, When you're investing, when you're 0:05:18.279 --> 0:05:22.560 buying into a brand new technology, you're trying to buying 0:05:22.800 --> 0:05:25.400 cheap for where the price will be eventually. So we 0:05:25.480 --> 0:05:27.839 call the stock market typically would be called like a 0:05:27.920 --> 0:05:30.760 discounting mechanism. And so what that means is that I'm 0:05:30.800 --> 0:05:33.960 trying to buy something cheaper today, then it will be 0:05:34.000 --> 0:05:35.760 in the future. Now. Sometimes if I was going to 0:05:35.839 --> 0:05:38.839 short it, I'm hoping to buy more expensive without another subject. 0:05:39.120 --> 0:05:42.000 And so if I'm trying to buy something cheaper and 0:05:42.040 --> 0:05:44.480 have to be worth more in the future, then typically 0:05:44.520 --> 0:05:46.320 I'm going to want to hold that for a long 0:05:46.360 --> 0:05:50.200 period of time until it's worth that all right now, 0:05:51.120 --> 0:05:54.440 when you're in when you're buying, if you're investing into 0:05:54.480 --> 0:05:58.719 a new technology, um, it has massive potential like bitcoin, 0:05:58.880 --> 0:06:00.400 but it also takes a while to get there, and 0:06:00.440 --> 0:06:02.800 so that short term price is a distraction. Let me 0:06:02.800 --> 0:06:05.320 give you a good example. By the way, you're listening 0:06:05.320 --> 0:06:08.159 to the Markmash Show, we're talking about bitcoin, cryptocurrencies and 0:06:08.200 --> 0:06:10.840 the decentralized revolution. And then to give you an example 0:06:10.880 --> 0:06:13.120 of how this works, I'm gonna use something that you 0:06:13.160 --> 0:06:15.240 might be more familiar with. Let's talk about real estate. 0:06:15.520 --> 0:06:17.240 So let's say that, UM, I was at the city 0:06:17.279 --> 0:06:19.840 council meeting last night at my uh in my town 0:06:20.120 --> 0:06:22.040 and they told me that, you know, thirty miles out 0:06:22.040 --> 0:06:24.360 of town, in the middle of nowhere, UM, they're going 0:06:24.400 --> 0:06:26.760 to build a stadium and there's gonna be the stadium. 0:06:26.800 --> 0:06:29.200 They're gonna build condos and there's gonna be shopping and 0:06:29.240 --> 0:06:31.760 there's gonna be this whole megaplex and it's gonna be there, 0:06:31.800 --> 0:06:34.080 and I don't know five years from now. So I 0:06:34.279 --> 0:06:36.760 rush out the next morning and I go find land 0:06:37.080 --> 0:06:39.160 around where they want to build that stadium. And it's 0:06:39.200 --> 0:06:40.880 dirt cheap because there's nothing there. So I pie up 0:06:40.920 --> 0:06:43.159 some land and I'm all excited. Oh, in five years, 0:06:43.720 --> 0:06:45.560 when that stadium is built, that land is gonna be 0:06:45.560 --> 0:06:48.200 worth a lot of money. And so I buy that. Now, 0:06:49.080 --> 0:06:52.880 what happens if in a year from now the price 0:06:52.920 --> 0:06:55.919 of the land is cheaper than it was when I 0:06:55.920 --> 0:06:58.960 bought it? Should I panic? Should I sell the land? 0:06:59.240 --> 0:07:02.320 Should I freak out out? Or a better example would 0:07:02.360 --> 0:07:04.960 probably be, well, let me ask myself, is the project 0:07:05.040 --> 0:07:08.280 still on plan right? Is it still happening? Are they 0:07:08.320 --> 0:07:11.720 still working on the plans? Are they still getting the permits? Um? 0:07:11.840 --> 0:07:14.640 Have they got the loans? Have they started construction? And 0:07:14.680 --> 0:07:18.600 as long as the project is still on track, then 0:07:18.640 --> 0:07:21.280 what would I do? Well, I'd probably buy more land 0:07:21.840 --> 0:07:24.200 because it's cheaper. Now. Let me let me get more 0:07:24.200 --> 0:07:26.800 of that. I want more of that good investment um, 0:07:26.880 --> 0:07:28.880 and then I would just continue to hold. And so 0:07:28.960 --> 0:07:30.440 every time if the price were going up and down, 0:07:30.480 --> 0:07:32.440 I'd just say, hey, is the project still on track? 0:07:32.680 --> 0:07:35.000 If the answer is yes, then I would maybe buy 0:07:35.080 --> 0:07:38.200 more or I would just hold and continue. Now if 0:07:38.240 --> 0:07:41.840 I did find out like oh, no, they found whatever 0:07:41.960 --> 0:07:44.400 nuclear waste on the site and now we can't build 0:07:44.400 --> 0:07:46.960 on that site anymore, well, then then it's obviously a 0:07:46.960 --> 0:07:49.600 different story. Then the project is off. Let's say the 0:07:49.640 --> 0:07:52.920 financing fell through, whatever maybe happened. If the projects off, 0:07:53.120 --> 0:07:54.880 then I need to take my losses. I need to 0:07:54.880 --> 0:07:56.360 cut I need to sell my land as quick as 0:07:56.400 --> 0:07:59.200 I can. And so that's how we have to look 0:07:59.280 --> 0:08:02.640 at this. When we're buying something that's so early on 0:08:02.760 --> 0:08:07.440 like bitcoin, like cryptocurrencies, and what I would say is um, oh. 0:08:07.520 --> 0:08:09.920 With the price of bitcoin went from so it was 0:08:10.000 --> 0:08:13.520 at the last high that had this year, The latest 0:08:13.600 --> 0:08:16.240 high of this year was almost sixty five dollars and 0:08:16.280 --> 0:08:18.840 that was in April, and then it went from sixty 0:08:19.680 --> 0:08:22.200 all the way down into like the thirty thousand dollar range, 0:08:22.640 --> 0:08:24.520 and so a lot of people panic should I sell? 0:08:24.600 --> 0:08:26.680 I'm like, oh, should I sell? Well, I would ask 0:08:26.680 --> 0:08:30.119 the same question like the like the real estate right, Well, 0:08:31.240 --> 0:08:36.000 is the project still on track? Are they still developing it? 0:08:36.600 --> 0:08:40.600 Is there still development? And is it still growing now? 0:08:40.640 --> 0:08:42.960 Typically when you're looking at something like this, there's a 0:08:42.960 --> 0:08:45.400 new technology. There's two things you're looking for, all right. 0:08:46.000 --> 0:08:49.960 If these two things stay intact, then you want to 0:08:50.000 --> 0:08:52.600 stay in the project. All right, Only two things. I'm 0:08:52.600 --> 0:08:55.520 gonna make it really simple for you so that you 0:08:55.559 --> 0:08:57.600 can take advantage of these. And these are easy for 0:08:57.640 --> 0:09:03.480 anyone to understand. The first one is the network effects. 0:09:04.000 --> 0:09:08.600 Is the network still growing now? Network effects are very 0:09:08.720 --> 0:09:12.360 very powerful. Um. And actually there's a law, it's called 0:09:12.440 --> 0:09:16.800 Metcalf's Law that explains what network effects are. Now, I 0:09:16.840 --> 0:09:19.040 want to tell you exactly what that law states, and 0:09:19.040 --> 0:09:21.440 more importantly, tell you how to watch it. And as 0:09:21.520 --> 0:09:23.439 soon as we come back, i'm gonna explain that, and 0:09:23.480 --> 0:09:25.200 I'm gonna give you the other key. You're listening to 0:09:25.200 --> 0:09:27.640 the Mark Moss Show and I'll be right back. All right, 0:09:27.679 --> 0:09:30.199 Welcome back. You are listening to the Mark mo Show, 0:09:30.280 --> 0:09:32.440 where each and every week I come and I bring 0:09:32.440 --> 0:09:37.079 you the latest information on bitcoin, cryptocurrencies and the decentralized revolution. 0:09:37.640 --> 0:09:41.720 Literally the biggest opportunity we've ever seen in our lifetime. 0:09:42.320 --> 0:09:45.120 Make sure to put a mark on your calendar right 0:09:45.160 --> 0:09:48.400 now for this day, this time, and this radio station, 0:09:48.520 --> 0:09:50.080 so you can join me each and every week. It 0:09:50.160 --> 0:09:52.680 will be the biggest thing that you can do. Now, 0:09:53.160 --> 0:09:56.200 before the break, I was talking about two indicators that 0:09:56.280 --> 0:09:59.920 you should be watching when you're buying or you're invest 0:10:00.040 --> 0:10:02.400 steen into a brand new technology like this. I was 0:10:02.440 --> 0:10:05.640 explaining how the price, the short term price signal is 0:10:05.640 --> 0:10:08.920 a distraction, all right, and so um I started to 0:10:08.920 --> 0:10:11.200 tell you the first the one of two. The first 0:10:11.280 --> 0:10:15.120 one is something called network effects. Right now, there's something 0:10:15.160 --> 0:10:18.280 known as Metcalf's law, and the way Metcalf's law works 0:10:18.600 --> 0:10:22.079 is that the bigger the network gets, the more valuable 0:10:22.240 --> 0:10:26.559 it becomes. All Right, So, if I was the only 0:10:26.640 --> 0:10:29.600 one in the world with the phone, it wouldn't be 0:10:29.600 --> 0:10:32.320 worth anything because what am I gonna do with it? 0:10:32.400 --> 0:10:35.600 I can't call anybody. But if two people have a phone, well, 0:10:35.600 --> 0:10:38.040 all of a sudden, the phone becomes more valuable, If 0:10:38.080 --> 0:10:41.199 ten people have it more viable. When the whole world 0:10:41.360 --> 0:10:45.160 has a phone, they're very, very valuable. So that the 0:10:45.840 --> 0:10:48.520 faster the network grows, the more valuable it becomes. The 0:10:48.559 --> 0:10:53.040 other thing is that once network effects are established, they're very, 0:10:53.280 --> 0:10:58.199 very difficult to overcome. So, for example, let's look at Facebook. 0:10:58.600 --> 0:11:03.079 So Facebook has network effects, right, Billions of people all 0:11:03.120 --> 0:11:07.640 around the world have Facebook, and so Facebook has become 0:11:07.720 --> 0:11:10.680 very powerful because of the network effects. Now, anybody could 0:11:10.720 --> 0:11:14.640 go start a competitor to Facebook, right, I mean, new 0:11:14.760 --> 0:11:17.440 social network pop up all the time, but the problem 0:11:17.520 --> 0:11:21.880 is they can't overcome the network effects that that are 0:11:21.960 --> 0:11:24.520 on Facebook. Right now, anybody could just go jump and 0:11:24.520 --> 0:11:27.199 just go use using new social media platform, but they don't. 0:11:27.679 --> 0:11:30.840 That's the That's the thing with network effects. They're very powerful. 0:11:31.160 --> 0:11:33.880 So when you're getting into a new technology like bitcoin 0:11:34.600 --> 0:11:38.040 or cryptocurrencies, you want to watch the network effects. Is 0:11:38.080 --> 0:11:41.679 it continue to grow? So when the price went from 0:11:41.720 --> 0:11:44.720 about like I said, about sixty dollars in April and 0:11:44.720 --> 0:11:47.760 it dropped all the way down to thirty dollars um 0:11:47.920 --> 0:11:50.120 using the real estate analogy that I was using before 0:11:50.120 --> 0:11:52.960 the break um, I would ask myself, well, are two 0:11:53.000 --> 0:11:57.040 things happening? One are the network effects still growing? And 0:11:57.080 --> 0:12:00.120 the answer is yes they were. So people maybe you 0:12:00.160 --> 0:12:03.000 were selling it was affecting the short term price, but 0:12:03.160 --> 0:12:07.000 the amount of users was still growing. Now it's interesting 0:12:07.040 --> 0:12:10.000 about bitcoin versus any other asset in the world, and 0:12:10.000 --> 0:12:13.439 this is a big, big deal, is that bitcoin is 0:12:13.480 --> 0:12:15.680 an open network, and so what that means is that 0:12:15.880 --> 0:12:19.640 everybody can see all the activity on the network itself, 0:12:20.000 --> 0:12:22.920 so we can see all the data. So bitcoin is 0:12:22.920 --> 0:12:27.240 what's known as anonymous, but it's not private. It's not 0:12:27.240 --> 0:12:29.680 private because everyone can see it. But it's anonymous. We 0:12:29.720 --> 0:12:33.559 don't know who belongs to those wallets, to those addresses, okay, 0:12:33.880 --> 0:12:36.200 and so because of that on chain data that's not 0:12:36.280 --> 0:12:38.720 evident in any other market, So we can't see that 0:12:38.760 --> 0:12:42.160 with stocks or oil or gold or natural gas or 0:12:42.200 --> 0:12:44.360 any of that. UM, we can get a better idea 0:12:44.360 --> 0:12:46.240 of these network effects. So what we could see is 0:12:46.280 --> 0:12:49.520 when the price dropped, the network effects were still growing. 0:12:49.600 --> 0:12:52.040 We were still seeing more and more wallets being created. 0:12:52.080 --> 0:12:55.800 We're seeing more users come on. So that box, I'll go, well, shoot, 0:12:55.800 --> 0:12:57.520 the network effects are still there, so I'm staying in 0:12:57.559 --> 0:13:00.240 the project. The second thing that we want to pay 0:13:00.240 --> 0:13:03.120 attention to when we're looking at new technology, UM like 0:13:03.160 --> 0:13:08.400 bitcoin or cryptocurrencies, would be what's the development Like remember 0:13:08.400 --> 0:13:11.079 back to my real estate example. UM, if the price 0:13:11.120 --> 0:13:13.400 of the land went down, I would go look and 0:13:13.440 --> 0:13:16.480 see is the project still on track? Are the plans 0:13:16.520 --> 0:13:20.080 being developed? Um? You know, is the financing coming through 0:13:20.160 --> 0:13:22.400 et cetera? And if it was, I'd stay in the 0:13:22.400 --> 0:13:24.760 real estate deal. Well back to bitcoin, I'd asked the 0:13:24.800 --> 0:13:27.839 same thing. So when the price dropped from sixty and 0:13:27.920 --> 0:13:30.960 thirty thousand, um, the network effects are good? Check what 0:13:31.080 --> 0:13:34.720 about the development? Well, there's still tons of development happening. 0:13:34.800 --> 0:13:38.320 As a matter of fact. Um. In July, I was 0:13:38.360 --> 0:13:41.280 in Dallas, Texas for bit block Boom. Shout out to 0:13:41.440 --> 0:13:44.320 Gary Leland and a bit block Boom. Put it on 0:13:44.360 --> 0:13:46.640 your calendar for next year. If you're into this, then 0:13:46.679 --> 0:13:49.240 you should definitely attend that event. Um. And I was 0:13:49.280 --> 0:13:51.960 there in July and the price was hovering around thirty 0:13:52.000 --> 0:13:55.839 four thirty five dollars. Well, um, they how did a 0:13:55.960 --> 0:13:59.880 hackathon going on and at the hackathon they had developers 0:14:00.000 --> 0:14:03.120 air um to come up with new development of new 0:14:03.160 --> 0:14:06.720 projects that could be built on the bitcoin blockchain. And 0:14:07.000 --> 0:14:10.120 it was amazing to see what was going on. The 0:14:10.160 --> 0:14:15.360 winner of the hackathon designed a phone that could literally 0:14:15.600 --> 0:14:19.640 make a call over the bitcoin network. Right, so there's 0:14:19.800 --> 0:14:23.800 massive developments still going on. In addition, we also see 0:14:24.000 --> 0:14:26.880 the brightest minds in the world. I mean, we're all 0:14:26.880 --> 0:14:30.240 smart and different ways, but some of the brightest minds 0:14:30.280 --> 0:14:34.800 in the technology and the financial world are literally leading 0:14:34.800 --> 0:14:36.680 the biggest jobs in the world to come over to 0:14:36.680 --> 0:14:41.600 the bitcoin network. So, for example, we saw the CFO 0:14:41.760 --> 0:14:45.280 of Bridgewater Capital. Now that means that name may not 0:14:45.360 --> 0:14:48.640 mean anything to you, but maybe you've heard of Ray Dalio, 0:14:49.320 --> 0:14:52.880 probably one of the most successful investors in the world today. 0:14:53.280 --> 0:14:56.240 Uh he runs the largest hedge fund in the world, 0:14:56.320 --> 0:15:00.240 Bridgewater Capital. So you're talking about the biggest head fund 0:15:00.240 --> 0:15:03.040 in the world, Bridgewater Capital, and the CFO, like one 0:15:03.080 --> 0:15:06.480 of the top three chiefs in the company left to 0:15:06.520 --> 0:15:09.760 go work for a bitcoin company. So we're seeing it 0:15:10.040 --> 0:15:13.760 sucking the biggest, the brightest minds um and we're seeing 0:15:13.880 --> 0:15:16.840 so we're seeing the development continue, new applications being built. 0:15:16.920 --> 0:15:19.320 We're also seeing the development in sense of the mind 0:15:19.360 --> 0:15:23.160 share that's coming to it is continuing, and the network 0:15:23.200 --> 0:15:26.280 effects are growing at the same time. So then using 0:15:26.280 --> 0:15:29.400 this real estate analogy as our guide, then we would 0:15:29.400 --> 0:15:31.800 ask ourselves, well, the price went from from sixty to 0:15:31.880 --> 0:15:35.360 thirty thousand, but are those two factors still in play 0:15:35.400 --> 0:15:38.640 as the network effects growing yes, check, is the development 0:15:38.680 --> 0:15:42.840 still growing yes? Check? Okay. Well, then knowing that, what 0:15:42.840 --> 0:15:46.000 do we do remember in the real estate example, we 0:15:46.160 --> 0:15:48.480 if the project was still on track and land got cheaper, 0:15:48.680 --> 0:15:51.480 I would probably buy more land. And so the same 0:15:51.520 --> 0:15:54.200 could be true with with a bitcoin and crypto project. 0:15:54.600 --> 0:15:56.480 Is if the project is still on track, if those 0:15:56.480 --> 0:15:59.480 two things are checked off, then at thirty thod it 0:15:59.560 --> 0:16:02.880 was probably only a pretty good idea to add more 0:16:03.040 --> 0:16:06.400 bitcoin to your portfolio. And of course if you would 0:16:06.400 --> 0:16:09.120 have done that, you would have been handsomely rewarded because 0:16:09.480 --> 0:16:13.880 it stayed in that thirty thirty five thousand dollar range 0:16:14.080 --> 0:16:18.960 from about you know, May until July to the end 0:16:19.000 --> 0:16:23.240 of July almost July, so you had a couple of 0:16:23.240 --> 0:16:25.480 months to buy in that thirty thousand dollar range. And 0:16:25.520 --> 0:16:29.240 today it's so you would have almost doubled your money 0:16:29.280 --> 0:16:32.680 if you would have done that. So, um, that's how 0:16:32.800 --> 0:16:34.440 I look at this. I'm looking at it in the 0:16:34.560 --> 0:16:38.480 long term and I'm not letting the short term price 0:16:39.040 --> 0:16:44.040 distract me because I understand where it's going down the 0:16:44.040 --> 0:16:46.560 long way because I watched those two factors. Now, some 0:16:46.600 --> 0:16:50.120 people would ask, well, Mark, wouldn't it have been better 0:16:50.520 --> 0:16:52.960 if I could have sold at sixty five thousand and 0:16:53.040 --> 0:16:56.080 bought back in at thirty That's what I'm gonna do. Mark. 0:16:56.600 --> 0:16:58.360 By the way, you're listening to the Mark mo Show, 0:16:58.840 --> 0:17:01.360 and I'm bringing to you the latest information on bitcoin, 0:17:01.400 --> 0:17:05.399 cryptocurrencies and the decentralized revolution each and every week. And 0:17:05.440 --> 0:17:07.159 so many people would say, well, Mark, why don't I 0:17:07.200 --> 0:17:09.440 just sell it sixty thousand and buy back in at 0:17:09.440 --> 0:17:11.600 thirty thousand. I mean, wouldn't that be better than I 0:17:11.600 --> 0:17:13.880 could write it back up the sixty again and sell it. 0:17:14.200 --> 0:17:16.840 And of course when you look at a chart, it's volatile, 0:17:16.880 --> 0:17:18.119 which means it goes up and down a lot, and 0:17:18.160 --> 0:17:21.119 it looks like, of course, why wouldn't I do that, 0:17:21.119 --> 0:17:25.120 that's the easiest thing in the world. Well, the problem 0:17:25.160 --> 0:17:28.320 with that that we don't have a crystal ball, and 0:17:28.359 --> 0:17:31.240 there's no way to know what the top or the 0:17:31.240 --> 0:17:35.600 bottom is until we're looking backwards at it. Now, there 0:17:35.640 --> 0:17:37.919 is something that's known as technical analysis. And as a 0:17:37.920 --> 0:17:39.840 matter of fact, if you stick with me, I have 0:17:39.880 --> 0:17:42.320 a guest coming on the show here in a little while, 0:17:42.359 --> 0:17:44.439 and we are going to talk about some of that 0:17:44.520 --> 0:17:48.320 price action in the technical analysis. Um. She is an 0:17:48.320 --> 0:17:50.080 expert in that and she can kind of give us 0:17:50.080 --> 0:17:52.199 a little bit of guidance. But for now, we're going 0:17:52.240 --> 0:17:55.280 to just focus on the long term play and really 0:17:55.320 --> 0:17:57.400 the news that's driving the source. And I'm gonna bring 0:17:57.440 --> 0:17:59.760 you some of the biggest news in just a minute. 0:18:00.080 --> 0:18:02.720 Listening to the Mark Moss Show and I'll be right back. 0:18:03.119 --> 0:18:05.960 All right, you are back with the markma Show where 0:18:06.000 --> 0:18:08.760 I talk about bitcoin. I talked about cryptocurrencies and the 0:18:08.840 --> 0:18:12.879 decentralized revolution each and every week. You're joining us right 0:18:12.920 --> 0:18:16.479 as we're talking about where a bitcoin price could go 0:18:16.600 --> 0:18:19.520 in the long run, and more importantly, how we stay 0:18:19.560 --> 0:18:23.280 in it so we can realize those big life changing games. 0:18:23.320 --> 0:18:26.120 All right now, we were talking about how the price 0:18:26.440 --> 0:18:29.960 is a distraction. In my opinion, the short term price 0:18:30.119 --> 0:18:32.960 is a distraction. Um. Right before the break, I gave 0:18:33.000 --> 0:18:36.199 you two indicators that you should watch on a regular 0:18:36.240 --> 0:18:39.040 basis to know if the project is staying on track 0:18:39.160 --> 0:18:41.920 or if it's time to get out while you still can. Um. 0:18:41.960 --> 0:18:44.480 Those were the network effects and the development. Those are 0:18:44.520 --> 0:18:47.280 the two ones. Now. I was talking also about how 0:18:47.359 --> 0:18:50.440 the price was about sixty five thousand about five months 0:18:50.480 --> 0:18:52.920 ago and dropped all the way down to about thirty thousand, 0:18:52.960 --> 0:18:54.720 and you had a couple of months to get it 0:18:54.760 --> 0:18:57.000 in that thirty five thousand range before pop back up. 0:18:57.840 --> 0:19:01.800 And as I was saying, most people would say, we'll shoot, um, 0:19:01.840 --> 0:19:03.440 why don't I just sell at the top and buy 0:19:03.480 --> 0:19:06.679 back at the bottom. And uh, as I said, you 0:19:06.680 --> 0:19:09.480 don't know that until you're looking backwards on it. But 0:19:09.680 --> 0:19:10.920 I am going to have someone on the channel a 0:19:10.960 --> 0:19:13.239 little bit later. We'll talk about some ways that you 0:19:13.280 --> 0:19:15.280 could try to play that a little bit if you want. 0:19:15.640 --> 0:19:18.800 But for now, let's look at some of the bigger things. Remember, um, 0:19:18.880 --> 0:19:21.359 is the development still going on. And that's what I 0:19:21.359 --> 0:19:25.680 want to look at for me personally, because I work, 0:19:25.720 --> 0:19:28.080 and I run a business and I have a family. 0:19:28.720 --> 0:19:31.440 I can't spend all my time looking at charts on 0:19:31.480 --> 0:19:33.640 a daily basis trading, and so I look at these 0:19:33.680 --> 0:19:36.560 big things, remember watching the development, And so let's talk 0:19:36.600 --> 0:19:40.480 about some of these really big things that happened this week, um, 0:19:40.560 --> 0:19:43.320 that are really going to drive the price on a 0:19:43.320 --> 0:19:46.520 long term basis. Now, the first thing is, like I said, 0:19:46.520 --> 0:19:48.960 I mean, you know, we back up the new highs. 0:19:48.960 --> 0:19:52.359 You know, dollars we got to, which is the highest 0:19:52.440 --> 0:19:54.600 it's been in about five months, which is good. We've 0:19:54.640 --> 0:19:57.800 also seen the entire market cap for bitcoin get back 0:19:57.880 --> 0:20:00.840 up to about a trillion dollars and the big number 0:20:01.119 --> 0:20:04.399 a trillion dollars UM. And there's something in the markets 0:20:04.520 --> 0:20:09.320 about these round numbers, right, So there's psychological levels when 0:20:09.320 --> 0:20:12.199 you get to ten thousand or fifty UM, and the 0:20:12.280 --> 0:20:15.720 same is kind of true with that trillion dollar market cap. 0:20:15.840 --> 0:20:19.439 So so we're up there, But um, what is going 0:20:19.600 --> 0:20:23.920 on that's causing this, right, we're looking for the fundamental drivers. 0:20:23.960 --> 0:20:26.760 We want to understand what's going on in the world 0:20:27.320 --> 0:20:30.719 that's causing the price to go up. I talked about obviously, um, 0:20:30.800 --> 0:20:33.159 the development and bringing on mind share, but what is 0:20:33.320 --> 0:20:37.080 driving people to buy it? Like why? That's why now 0:20:37.119 --> 0:20:39.320 many people are probably well, I'm buying it because I 0:20:39.320 --> 0:20:41.399 think it's gonna go up in dollar value, But but 0:20:41.520 --> 0:20:44.000 really what's behind that? Why would it go up in 0:20:44.000 --> 0:20:48.320 dollar value? And if you can understand that piece the why, 0:20:48.480 --> 0:20:51.280