WEBVTT - The Mark Moss Show Dec 20, 2021 0:00:00.320 --> 0:00:03.360 Hey, everyone, welcome to another episode of The Mark Moss 0:00:03.400 --> 0:00:07.000 Show where we're talking about bitcoin. Of course, each and 0:00:07.000 --> 0:00:09.360 every week we're talking about cryptocurrencies, we're talking about the 0:00:09.440 --> 0:00:13.960 decentralized revolution, and I'm really just trying to bring context 0:00:14.000 --> 0:00:17.560 to you of what is going on in this giant movement. 0:00:17.560 --> 0:00:21.360 When I say giant, I am talking about a shift 0:00:21.480 --> 0:00:25.040 so big that it will literally change the course of humanity. 0:00:25.040 --> 0:00:27.680 It's that big, and it's you know, to understand bitcoin, 0:00:27.720 --> 0:00:30.680 to understand this decentralized revolution, you have to understand lots 0:00:30.720 --> 0:00:33.480 of different things. There's probably at least six or eight 0:00:33.520 --> 0:00:36.040 different disciplines that you have to understand, which is why 0:00:36.320 --> 0:00:39.559 most people have a hard time understanding what it is. 0:00:40.120 --> 0:00:42.400 And you know, I've been asked many times. I've been 0:00:42.880 --> 0:00:45.680 teaching about bitcoin for six seven years now at this point, 0:00:46.240 --> 0:00:48.800 pretty much talk about it all the time. I'm pretty 0:00:48.840 --> 0:00:52.280 good at taking complex subjects and making them easy to understand, 0:00:52.320 --> 0:00:54.000 which is what I'm doing with you each and every week. 0:00:54.040 --> 0:00:56.120 And sometimes some of my friends will sit me down 0:00:56.160 --> 0:00:59.200 and they're like, hey, Mark, um, could you just explain 0:00:59.240 --> 0:01:01.200 bitcoin to me? Like I'm five years old and in 0:01:01.240 --> 0:01:06.600 two minutes and I'm just like, no, I can't. Uh, 0:01:07.200 --> 0:01:10.080 because a five year old can't get it in two minutes. 0:01:10.080 --> 0:01:12.040 Nobody can get in two minutes. And that's one of 0:01:12.080 --> 0:01:14.200 the big problems that we have in culture today is 0:01:14.240 --> 0:01:16.320 that we're all trying to find these life hacks, which 0:01:16.360 --> 0:01:18.120 is fine, we should all be finding life acts and 0:01:18.840 --> 0:01:20.480 a life hack is listening to me each week. But 0:01:20.520 --> 0:01:22.560 if you're only going to put in five minutes or 0:01:22.600 --> 0:01:25.880 two minutes worth of work, you're never going to get this. 0:01:26.400 --> 0:01:28.080 And really you're just never gonna make it in life. 0:01:28.400 --> 0:01:30.160 And it's a big problem that we have in the 0:01:30.160 --> 0:01:33.319 world where we see people they read the headlines and 0:01:33.360 --> 0:01:35.920 they don't even bother to read the rest of the article. 0:01:36.319 --> 0:01:38.759 And usually those headlines are kind of this clickbait type 0:01:38.760 --> 0:01:40.600 of thing and it doesn't even really represent what that 0:01:40.720 --> 0:01:43.319 article is about. But yet people think they have the information. 0:01:43.720 --> 0:01:45.600 And so with bitcoin, a lot of times people are like, oh, 0:01:45.640 --> 0:01:46.800 I get it, I get it. I get It's like 0:01:46.800 --> 0:01:48.760 this digital cash. It's like it's like this digital gold. 0:01:48.920 --> 0:01:52.120 I get it. Right, No, you don't get it. You 0:01:52.160 --> 0:01:55.040 can't get it in two minutes, especially if you're five 0:01:55.120 --> 0:01:57.280 years old. And so we'll talk about this each and 0:01:57.320 --> 0:02:01.160 every week, and all these different ways that affect your life. 0:02:01.720 --> 0:02:04.720 And really we'll talk about the intersection of or the 0:02:04.760 --> 0:02:09.480 importance of why, why is this even important? Why do 0:02:09.560 --> 0:02:13.200 I even care about this? Why will this be so powerful? 0:02:13.240 --> 0:02:15.960 Will change the world? And so you have to understand 0:02:15.960 --> 0:02:19.480 a lot of different subjects. And luckily for you, me, 0:02:19.760 --> 0:02:23.440 your host, I've sort of been this jack of all trades, 0:02:23.520 --> 0:02:27.320 master of none most of my life. So I'm sort 0:02:27.360 --> 0:02:29.800 of like uniquely situated to talk to you about these 0:02:29.800 --> 0:02:33.079 subjects because I like to dabble in all these different 0:02:33.080 --> 0:02:37.000 different areas. I'm talking about history, monetary history, which you 0:02:37.040 --> 0:02:39.320 hear me talk about a lot. I'd like to talk 0:02:39.360 --> 0:02:42.560 about economics. I'd like to talk about finance. I like 0:02:42.560 --> 0:02:45.480 to talk about technology. I'd like to talk about psychology. 0:02:45.520 --> 0:02:48.119 I would talk about game theory, I like to talk 0:02:48.160 --> 0:02:53.720 about philosophy, and all of these subjects intersect at bitcoin, 0:02:54.320 --> 0:02:56.920 and so really I like to talk focus on really 0:02:56.960 --> 0:03:03.480 the intersection of finance, technology, and money. It's a pretty 0:03:03.480 --> 0:03:07.079 powerful combination of those three and they all intersect directly 0:03:07.280 --> 0:03:10.360 at bitcoin. And so a lot of times, like I said, 0:03:10.600 --> 0:03:12.480 a lot of people, especially in the United States, when 0:03:12.480 --> 0:03:14.280 I've traveled in other countries they get this a little 0:03:14.280 --> 0:03:17.519 bit better, but in the United States they go, why 0:03:17.560 --> 0:03:19.760 why do we even need bitcoin? What problem does it 0:03:19.840 --> 0:03:22.960 even solve? And you'll hear people talking about the energy problem, 0:03:23.000 --> 0:03:28.239 like bitcoin waste energy? Well, how does it waste energy? 0:03:28.760 --> 0:03:30.320 I'd like to hear your argument that what what do 0:03:30.360 --> 0:03:32.360 you mean it waste energy? Because the way that I 0:03:32.480 --> 0:03:36.120 understand it is that one man's trash is another man's treasure. 0:03:37.240 --> 0:03:40.120 So how is it a waste? If I decided to 0:03:40.160 --> 0:03:43.720 put my attention, my energy, my effort into it, how 0:03:43.720 --> 0:03:46.160 who are you to call what I do a waste? 0:03:46.360 --> 0:03:48.600 But typically what I would say is that that argument 0:03:48.640 --> 0:03:51.520 comes from a standpoint that it's a waste of time. 0:03:52.000 --> 0:03:54.040 There's no purpose of it, there's no need for it, 0:03:54.120 --> 0:03:58.200 so why would we devote any energy towards that? I mean, 0:03:58.240 --> 0:04:01.200 the same could be said about video games. Our energy 0:04:01.400 --> 0:04:04.480 or our video games a waste of energy? Are YouTube 0:04:04.720 --> 0:04:09.040 videos a waste of energy? Is you listening to me 0:04:09.120 --> 0:04:12.120 talking to on my podcast right now? A waste of energy? 0:04:12.440 --> 0:04:14.880 Hopefully you don't answer yes to that question, um, but 0:04:15.040 --> 0:04:17.280 you know what is this waste? And so typically I 0:04:17.279 --> 0:04:19.480 would just say it's like people go well, there's there's 0:04:19.480 --> 0:04:23.080 no point to bitcoin, there's no need for it. Um, 0:04:23.080 --> 0:04:27.480 it's just a stupid speculation or whatever. So why should 0:04:27.520 --> 0:04:31.880 we devote any energy to that? And first off, like 0:04:31.920 --> 0:04:34.200 I said, who are you to say what I devote 0:04:34.240 --> 0:04:37.239 my energy to. If I decided to devote my energy 0:04:37.320 --> 0:04:40.440 to meditation and staring into space, then that's what I 0:04:40.440 --> 0:04:42.039 wanted to dedicate my time. If I want to dedicate 0:04:42.040 --> 0:04:43.560 my time to play in video games, and so be 0:04:43.560 --> 0:04:45.560 it Like, who are you or who is anybody to 0:04:45.600 --> 0:04:48.680 dictate what anybody else thinks is a good or bad 0:04:48.800 --> 0:04:52.200 use of their time or energy. But really, ultimately, like 0:04:52.200 --> 0:04:53.440 I said, it comes down to the fact that they 0:04:53.480 --> 0:04:57.240 don't understand why why is this important? So what I 0:04:57.279 --> 0:05:01.320 would say is that bitcoin is the most important thing. 0:05:01.360 --> 0:05:04.480 As a matter of fact, it not only deserves all 0:05:04.520 --> 0:05:06.839 the energy that we put into it, it needs even 0:05:06.960 --> 0:05:10.680 way more. That's what I would say. I would say, no, no, 0:05:10.839 --> 0:05:14.120 we're not spending enough energy on bitcoin. But again, it 0:05:14.160 --> 0:05:17.520 comes down to why, Why do I believe that's important? 0:05:17.839 --> 0:05:21.240 Why do I believe it can change the world. That's 0:05:21.240 --> 0:05:22.440 what I want to share with you. By the way, 0:05:22.440 --> 0:05:23.880 you're listening to the Mark Mos show. Of course we're 0:05:23.880 --> 0:05:26.400 talking about bitcoin. If you're just tuning in, we're talking 0:05:26.400 --> 0:05:30.159 about cryptocurrencies. We're talking about this decentralized revolution, and we're 0:05:30.160 --> 0:05:35.000 talking about why. Now, there's a million reasons why. And 0:05:35.640 --> 0:05:38.080 I like to use an analogy. I would I'd like 0:05:38.160 --> 0:05:41.080 to use an analogy of imagine. Imagine in your mind 0:05:41.480 --> 0:05:44.680 this giant oak tree, and you have this old oak tree. 0:05:44.720 --> 0:05:47.880 It's really big, and I don't know, ten thousand leaves 0:05:47.920 --> 0:05:50.880 on this oak tree, and every one of those leaves 0:05:51.360 --> 0:05:55.599 on that tree is a problem. So we have the 0:05:55.640 --> 0:05:59.280 obesity rate, or or the divorce rate, or the incarceration rate, 0:05:59.360 --> 0:06:01.480 or the divide but rich and poor, or the breakdown 0:06:01.520 --> 0:06:05.680 and supply chains, or you name it. Any problem that 0:06:05.720 --> 0:06:08.840 you could pull all basically comes down into the tree, 0:06:08.880 --> 0:06:11.200 into the trunk, and at the base of that tree, 0:06:11.400 --> 0:06:16.920 at the trunk, the root of that problem is the money. 0:06:17.120 --> 0:06:21.480 The money is the problem responsible for every other problem 0:06:21.520 --> 0:06:23.240 that we have in society. Now, I know, I get it, 0:06:23.279 --> 0:06:24.880 I get it, I get it. Don't shoot the messenger. 0:06:24.960 --> 0:06:28.320 That's a big claim, right, it's a really big claim. 0:06:28.360 --> 0:06:29.640 But it's a claim that I can back up. And 0:06:29.640 --> 0:06:31.120 it's a claim that I'm gonna back up each and 0:06:31.160 --> 0:06:34.119 every show. So, by the way, well what we're talking 0:06:34.120 --> 0:06:37.400 about this, uh, I promise to make this the most 0:06:37.440 --> 0:06:39.240 important part of your week. So just grab your phone 0:06:39.240 --> 0:06:42.119 real quick, put a calendar reminder for this date this time, 0:06:42.440 --> 0:06:44.560 and make sure to join me on this station each 0:06:44.600 --> 0:06:48.040 and every week. But it's a big claim. I get it. 0:06:48.360 --> 0:06:53.200 Every problem obesity, divorce rate, like, incarceration rate, like, how 0:06:53.240 --> 0:06:56.159 are those related to the money. That doesn't make any sense? 0:06:56.279 --> 0:06:59.760 Mark right, I get it, But it does, and I'm 0:06:59.760 --> 0:07:02.839 gonna prove it now. Um, I'm just gonna say topically, well, 0:07:02.839 --> 0:07:08.640 what's the number one cause of divorce? Money? Fighting over money? Typically, 0:07:08.640 --> 0:07:12.000 not having enough money is typically the problem. But why 0:07:12.040 --> 0:07:13.680 don't we have enough money? Well, then that goes into 0:07:13.680 --> 0:07:16.080 this income in equality thing. Why is it so hard 0:07:16.120 --> 0:07:18.320 to get ahead today? Why are there rich getting richer 0:07:18.320 --> 0:07:21.600 and the poorer staying poor? What is causing this divide 0:07:22.800 --> 0:07:25.360 the money? And so really, if we can look back 0:07:25.560 --> 0:07:27.720 at a chart, it really we can trace it back 0:07:27.760 --> 0:07:31.760 to nineteen seventy one, at the time when the then 0:07:31.920 --> 0:07:35.960 current president Richard Nixon removed not only the United States, 0:07:35.960 --> 0:07:40.200 but really removed the entire world from the gold standard. 0:07:40.640 --> 0:07:44.480 So for all of pretty much recorded history, five thousand years, 0:07:44.560 --> 0:07:48.000 gold had been money. For hundreds of years. Inside the 0:07:48.080 --> 0:07:53.280 United States, gold was money, and all the four Under 0:07:53.280 --> 0:07:56.360 the Breton Woods Agreement, the entire world agreed to be 0:07:56.440 --> 0:07:59.440 on a one world money monetary system that was a 0:07:59.560 --> 0:08:02.000 gold back system. The dollar will be back to gold, 0:08:02.040 --> 0:08:04.280 All the currencies of the world will be backed to 0:08:04.360 --> 0:08:06.560 the dollar or pinned, i should say, peg to the dollar. 0:08:06.960 --> 0:08:11.920 And so we're on a gold back system. President Richard 0:08:12.000 --> 0:08:17.400 Nixon severed the ties of the gold standard and thereby 0:08:17.720 --> 0:08:21.000 took the entire world off of what had been money 0:08:21.040 --> 0:08:24.240 for five thousand years, and since that for the last 0:08:24.280 --> 0:08:26.360 fifty years. It was August of this year. August of 0:08:26.360 --> 0:08:29.640 this year was the fiftieth anniversary of that happening. And 0:08:29.720 --> 0:08:34.040 since that time, the entire world has gone haywire, and 0:08:34.080 --> 0:08:35.959 a lot of the problems that we see today are 0:08:36.000 --> 0:08:39.200 a direct cause of this. Now, there's a massive, massive, 0:08:39.320 --> 0:08:43.040 massive problem going on all across the world today and 0:08:43.080 --> 0:08:45.480 it's directly related to this. And you probably don't get this. 0:08:45.520 --> 0:08:48.480 You probably don't understand this now if you're in southern California, 0:08:48.880 --> 0:08:51.840 where I'm from, I mean you're anywhere near the beach, 0:08:52.320 --> 0:08:54.880 you've probably seen. And if you're not there, you've probably heard. 0:08:55.360 --> 0:08:59.440 There's hundreds are about a hundred ships sitting off the 0:08:59.480 --> 0:09:01.959 ports of Long Beach trying to come in, trying to 0:09:01.960 --> 0:09:06.280 bring goods in. Why why is that happening? Well, would 0:09:06.320 --> 0:09:07.440 you believe me if I told you it is because 0:09:07.440 --> 0:09:09.760 of the money and bitcoin can fix that. Well, I'm 0:09:09.760 --> 0:09:12.080 gonna tell you exactly what's happening. I'm gonna tell you 0:09:12.080 --> 0:09:14.160 exactly why the money is responsible. I would tell you 0:09:14.160 --> 0:09:17.440 exactly how bitcoin fixes this when we come back. All right, Now, 0:09:17.480 --> 0:09:19.200 you're listening to the Mark Moa Show. We're talking about bitcoin, 0:09:19.240 --> 0:09:22.400 we're talking about cryptocurrencies. Of course, we're talking about the 0:09:22.400 --> 0:09:27.160 bigger decentralized revolution that's happening. I'm gonna be right back 0:09:27.200 --> 0:09:28.920 on to tell you how the shipping problem can be 0:09:28.920 --> 0:09:31.360 fixed by bitcoin. Don't go away, all right, Welcome back. 0:09:31.360 --> 0:09:33.679 You're listening to the markma Show. We're talking about bitcoin, 0:09:33.720 --> 0:09:37.760 we're talking about cryptocurrencies, we're talking about the decentralized revolution, 0:09:38.920 --> 0:09:42.199 and boy, oh boy, where do I start. It's such 0:09:42.200 --> 0:09:43.719 a big topic and that's why you gotta tune in 0:09:43.760 --> 0:09:45.920 with me each and every week before the break, I 0:09:46.000 --> 0:09:48.960 was explaining how, um, if the world was like this 0:09:48.960 --> 0:09:50.840 giant oak tree, and every leave on that oak tree 0:09:50.840 --> 0:09:53.320 was a problem, and you trace each one of those 0:09:53.400 --> 0:09:54.959 leaves back to the tree, and the tree all but 0:09:55.040 --> 0:09:57.000 down the route at the roots sits the money. The 0:09:57.040 --> 0:09:59.840 money printer. The problem is the money, and the money 0:09:59.880 --> 0:10:01.960 is causing every problem that we have today. And I 0:10:02.040 --> 0:10:04.800 was explaining how one of the big problems that we 0:10:04.840 --> 0:10:07.760 have today, there's there's many, but we'll just tackle one today, 0:10:08.000 --> 0:10:10.560 and one of them is supply chains are breaking down. 0:10:10.880 --> 0:10:13.840 I talked about how off the coast of Long Beach, 0:10:13.880 --> 0:10:16.920 off the coast of southern California, there's about plus or 0:10:16.920 --> 0:10:20.640 minus about a hundred ships sitting off the coast, and 0:10:20.679 --> 0:10:22.400 they can't figure out how to get him in there 0:10:22.400 --> 0:10:25.599 and get them unloaded. Right now, that's a big problem, 0:10:25.840 --> 0:10:28.840 supply chains breaking down when those ships don't come in, 0:10:29.320 --> 0:10:32.840 parts don't get delivered, items don't get made, vendors don't 0:10:32.840 --> 0:10:35.200 get their parts, you don't get to buy the consumer 0:10:35.240 --> 0:10:39.400 goods that you want. The entire economy breaks down over that. 0:10:40.200 --> 0:10:43.320 But that's the problem with the money, Mark, Is that 0:10:43.320 --> 0:10:45.320 what you're telling me, Mark that's exactly what I'm telling you. 0:10:45.360 --> 0:10:47.360 And not only I telling you that it's the problem 0:10:47.360 --> 0:10:50.280 with the money, I'm also telling you that bitcoin can 0:10:50.360 --> 0:10:53.400 fix that. It's a big claim. So let me let 0:10:53.440 --> 0:10:55.880 me explain what I'm talking about here. Now. First off, 0:10:56.600 --> 0:10:58.280 I'm sure you've heard by now the supply chains are 0:10:58.280 --> 0:11:01.880 breaking down everywhere, Right's chains are breaking down. Or you've 0:11:01.880 --> 0:11:03.840 probably gone to buy goods and you've noticed that you 0:11:03.880 --> 0:11:05.200 can't get some of the things that you want are 0:11:05.200 --> 0:11:08.080 they're way more expensive, Like use cars are up thirty 0:11:09.040 --> 0:11:11.880 because new cars can't be sold as much because we 0:11:11.920 --> 0:11:16.320 don't have chips that go in them, right, supply chain issues. Now, 0:11:16.480 --> 0:11:20.439 the supply chain is a it's a complex dynamic system 0:11:20.559 --> 0:11:23.600 on a minsive scale. I mean it's it's a global scale. 0:11:24.160 --> 0:11:26.800 It's uh, it's probably as complex as the as a 0:11:26.840 --> 0:11:31.160 climate chain system. And it's that big. And a lot 0:11:31.160 --> 0:11:34.000 of people maybe kind of think they have an idea 0:11:34.040 --> 0:11:36.760 of how the supply chains work, but probably a few 0:11:36.800 --> 0:11:39.040 people have actually taken the time to think about it, 0:11:39.080 --> 0:11:41.880 to think about how big, how complex it really is. 0:11:42.320 --> 0:11:43.959 All right, so let me just take you through it, 0:11:44.040 --> 0:11:47.480 just a very very simple thought exercise, but think about 0:11:47.920 --> 0:11:50.120 think about just going to the store like you normally do, 0:11:50.320 --> 0:11:51.959 and there's all these products on the store. How do 0:11:52.040 --> 0:11:54.959 those products get on the store shelves at the very 0:11:54.960 --> 0:11:56.560 time that you need it, at the same time at 0:11:56.559 --> 0:11:59.360 the place, right, So think about going to go store. 0:11:59.360 --> 0:12:01.400 You want to buy a little bread. Well, the bread 0:12:01.400 --> 0:12:05.760 didn't just magically get there, right, It was delivered by somebody. 0:12:05.840 --> 0:12:08.880 It was probably a local bakery maybe, And so it 0:12:08.960 --> 0:12:11.360 was delivered by a local bakery. There was a shelf 0:12:11.400 --> 0:12:14.280 at the store that put it on the shelf. Um, 0:12:14.360 --> 0:12:17.040 you carried it home, right, So somebody brought it there, 0:12:17.080 --> 0:12:19.120 somebody put on the shelf, you carried it home, You 0:12:19.200 --> 0:12:22.240 served it for dinner. That's the supply chain, right, the bakery, 0:12:22.760 --> 0:12:26.720 the store, you, and then the food. That's the supply chain. 0:12:26.760 --> 0:12:29.120 But that's that's that doesn't even scratch the surface. And 0:12:29.240 --> 0:12:31.560 I can't even really scratch the surface. So think about it, like, 0:12:31.840 --> 0:12:34.840 what about the truck that the driver used when they 0:12:34.880 --> 0:12:39.000 delivered the bread. Where did the bakery get the flour from? 0:12:39.120 --> 0:12:41.440 Where did the yeast and the water needed to make 0:12:41.440 --> 0:12:43.520 the bread? Where did that come from? What about the 0:12:43.520 --> 0:12:47.000 ovens that were used to bake the bread? What about 0:12:47.120 --> 0:12:50.600 the probably hundred thousand parts that went into the oven? 0:12:50.760 --> 0:12:54.040 Where did they come from? When the bread was baked 0:12:54.080 --> 0:12:57.160 out of that oven, um was it put into like 0:12:57.240 --> 0:12:59.880 a plastic bag or was it put into a paper bag? 0:13:00.320 --> 0:13:03.040 Where did those come from? Where did the parts for 0:13:03.080 --> 0:13:05.080 the plastic come from? For them to even make the 0:13:05.080 --> 0:13:09.280 plastic bags? Right now, I've expanded a little bit, but 0:13:09.360 --> 0:13:13.360 even that is just barely even scratching the surface. Right. 0:13:14.280 --> 0:13:17.480 The flower used for baking comes from wheat, of course, right? Well, 0:13:17.720 --> 0:13:19.319 where was where did the weak come from? It was 0:13:19.360 --> 0:13:23.400 grown on a farm? Okay? Well, well on the farm. 0:13:23.920 --> 0:13:26.360 Did they use fertilizer? Where the fertilizer come from? Do 0:13:26.440 --> 0:13:28.520 they use heavy equipment? Do they use the tractor? Well, 0:13:28.520 --> 0:13:30.400 where that tractor come from? Where did all the parts 0:13:30.640 --> 0:13:33.679 for the tractor come from? What about the farmer that 0:13:33.800 --> 0:13:36.200 hired labor? Where did those people come from? Do they 0:13:36.280 --> 0:13:38.320 use water? Where did that water come from? What about 0:13:38.360 --> 0:13:39.960 the first? Right? On and on and on? Right, we 0:13:40.000 --> 0:13:43.840 can just keep going and going and going. Right, Like 0:13:43.880 --> 0:13:46.440 I said, the oven they have, The oven itself has 0:13:46.480 --> 0:13:48.880 their own supply chain. Where did the steel come from? 0:13:48.920 --> 0:13:50.839 Where did the glass come from? Where did the semiconductors 0:13:50.840 --> 0:13:53.199 come from, where the electrical scirpts come from? And on 0:13:53.240 --> 0:13:56.440 and on and on. Now, the ovens, you know, are 0:13:56.520 --> 0:13:59.559 either you know, handcrafted, made by hand, or their mass 0:13:59.559 --> 0:14:03.920 produced in a factory that then also uses probably assembly lines. 0:14:04.080 --> 0:14:06.360 And then what about those assembly lines? Where did those 0:14:06.400 --> 0:14:11.200 parts come from? The factory uses inputs like electricity, So 0:14:11.240 --> 0:14:15.240 where does the electricity come from? Do they use natural gas? Uh? Right? 0:14:15.280 --> 0:14:17.079 Where where does that come from? Where are the lines 0:14:17.120 --> 0:14:20.400 that run the natural gas? Um the store that sells 0:14:20.440 --> 0:14:24.400 the breads on the receiving end, right, And they require 0:14:24.440 --> 0:14:27.400 electricity as well. They also need gas for for heating. 0:14:27.520 --> 0:14:30.560 They they also need labor. They need loading docks and 0:14:30.680 --> 0:14:36.240 delivery rooms and inventory rooms. So you get it. It's complex, right, 0:14:37.120 --> 0:14:40.560 But how does all that work? How does that entire 0:14:40.720 --> 0:14:43.760 network work? How is it that the wheat is made 0:14:43.800 --> 0:14:45.800 and turned into flour and delivered to the baker and 0:14:45.800 --> 0:14:48.160 the baker knows the bags to use and get the 0:14:48.160 --> 0:14:50.080 bags and gets the bread to the shelf and the 0:14:50.080 --> 0:14:54.640 one loaf, And how does that entire system work? And 0:14:54.680 --> 0:14:57.920 that's just bread. Now think of that times every product 0:14:57.960 --> 0:15:00.560 in the world. For your tires on your car or 0:15:00.600 --> 0:15:03.720 your car itself, or the the phone, the iPhone that 0:15:03.720 --> 0:15:06.200 you may be listening to me on right now, think 0:15:06.240 --> 0:15:09.000 about everything else, and then you fig factory. And there's 0:15:09.040 --> 0:15:11.960 three million people United States seven and have billion people 0:15:11.960 --> 0:15:15.040 in the world that all have changing once needs and 0:15:15.120 --> 0:15:18.160 desires constantly. So how is it that no matter how 0:15:18.200 --> 0:15:22.280 irrational you are as a human. So for example, I 0:15:22.400 --> 0:15:25.520 love vanilla ice cream. I always want vanilla ice cream 0:15:25.560 --> 0:15:29.280 all the time, but today I want chocolate ice cream. 0:15:29.520 --> 0:15:33.120 I don't know why, I just do because I'm irrational, right, 0:15:33.640 --> 0:15:36.360 So how can we have three million people in the 0:15:36.400 --> 0:15:37.960 US or seven and a half billion people in the world, 0:15:38.120 --> 0:15:41.120 all irrational human beings that have constantly shifting once needs 0:15:41.120 --> 0:15:43.880 and desires, that have all different types of products that 0:15:43.920 --> 0:15:46.360 we want. And how is it that we can go 0:15:46.480 --> 0:15:50.320 to a restaurant or a store or sportings good store 0:15:50.680 --> 0:15:53.760 and have the exact product that I need with all 0:15:53.880 --> 0:15:57.680 those supply chains, with all those vendors, hundreds or not 0:15:57.800 --> 0:16:00.960 hundreds thousands, hundreds of thousands of vendors and people that 0:16:01.000 --> 0:16:03.520 are required to get those parts together to make that 0:16:03.560 --> 0:16:06.680 tennis racket or that bicycle or that surfboard or whatever 0:16:06.680 --> 0:16:08.960 it is. How does that work, how are all those 0:16:09.000 --> 0:16:12.680 people coordinating? Um, if I'm selling bread in the store, 0:16:12.760 --> 0:16:15.000 I don't know the farmer who's growing the wheat. I 0:16:15.040 --> 0:16:17.200 don't call him and say, hey, I'm gonna sell more 0:16:17.200 --> 0:16:20.520 bread next year, I need more wheat. No, all of 0:16:20.520 --> 0:16:25.040 that is coordinated by something called a signal. And what 0:16:25.160 --> 0:16:28.600 is the signal? The signal is the price. The price 0:16:28.680 --> 0:16:31.360 is the signal. So if the price of something goes up, 0:16:31.800 --> 0:16:35.200 for example, today, I want chocolate ice cream, well, then 0:16:35.360 --> 0:16:38.360 if everybody wants more chocolate ice cream, there's more demand 0:16:38.360 --> 0:16:40.280 for chocolate ice cream. Then guess what happens. The price 0:16:40.320 --> 0:16:43.800 goes up and two things happen. One people buy buy 0:16:43.920 --> 0:16:47.840 less chocolate ice cream, there's less demand, and two ice 0:16:47.880 --> 0:16:51.720 cream manufacturers make more chocolate ice cream. And so that signal, 0:16:51.840 --> 0:16:55.000 that price signal, is what coordinates the economy, like hey, 0:16:55.040 --> 0:16:57.080 we need more chocolate ice cream over here, or we 0:16:57.120 --> 0:16:59.680 need more bicycles over here, and so it's that signal. 0:17:00.200 --> 0:17:04.160 But what happens when the signal gets distorted and nobody 0:17:04.200 --> 0:17:07.359 can understand the signal. So if the price is the signal, 0:17:07.880 --> 0:17:11.520 the money is the communication. The money communicates the signal. 0:17:11.600 --> 0:17:13.800 The money communicates the price. When you pay for something 0:17:13.840 --> 0:17:16.840 with your money, you're paying the price. The price is 0:17:16.920 --> 0:17:20.159 the signal, and so money is not a lot of 0:17:20.200 --> 0:17:21.960 people really haven't taken the time to think about what 0:17:22.040 --> 0:17:23.920 money is. And if you haven't taken the time to 0:17:23.920 --> 0:17:26.360 think about what money is, then of course you don't 0:17:26.440 --> 0:17:29.280 understand why bitcoin is important because you don't get it. 0:17:29.359 --> 0:17:31.600 You haven't taken the time to think through this. But 0:17:31.680 --> 0:17:34.520 this is a massive, massive problem. I want to explain 0:17:34.600 --> 0:17:36.320 to you the money and the signal piece, but I 0:17:36.359 --> 0:17:39.239 wanna tell you how it gets corrupted and how it 0:17:39.359 --> 0:17:42.440 leads to bigger problems than the supply chains, Bigger than that. 0:17:42.840 --> 0:17:44.880 I want to explain to you that when I come back, 0:17:44.920 --> 0:17:47.240 you're listening to the Markmas Show, we're talking about bitcoin. 0:17:47.359 --> 0:17:48.960 If you haven't guess, we're talking about bitcoin, We're talking 0:17:48.960 --> 0:17:50.960 about money, We're talking about bitcoin. We're talking about solving 0:17:50.960 --> 0:17:56.520 the world problems. We're talking about the decentralized revolution, cryptocurrencies, etcetera. 0:17:56.920 --> 0:18:00.680 I'm talking about the price and why bitcoin is important, 0:18:00.800 --> 0:18:03.240 why it's worth the energy, why we should be spending 0:18:03.359 --> 0:18:06.399 even more energy on it. I have more in a second. 0:18:06.600 --> 0:18:09.280 Don't go away, all right, Welcome back, you are listening 0:18:09.280 --> 0:18:11.239 to the Mark Moa show. We're talking about bitcoin, We're 0:18:11.240 --> 0:18:14.600 talking about cryptocurrencies, we are talking about the decentralized revolution. 0:18:15.560 --> 0:18:19.080 And today, right now, we are talking about supply chains 0:18:19.080 --> 0:18:21.719 breaking down. Now, how does that apply to bitcoin. It's 0:18:21.720 --> 0:18:23.639 a good question, the one that you should know the 0:18:23.680 --> 0:18:26.160 answer to. It's the answer that you need to know 0:18:26.320 --> 0:18:29.240 because you need to know why do we even need 0:18:29.280 --> 0:18:31.760 something like bitcoin? Why is it even important? And it's 0:18:31.800 --> 0:18:35.600 because the money is broken. The fiat money system that 0:18:35.640 --> 0:18:37.639 we have is broken. The fiat money system being broken 0:18:37.760 --> 0:18:40.920 causes all the problems that we have today. So we say, 0:18:40.960 --> 0:18:42.679 if we can fix the money, we can fix the world. 0:18:42.960 --> 0:18:45.080 And that is what bitcoin is doing. So I was 0:18:45.080 --> 0:18:47.600 given a story of supply chains and how they work. 0:18:48.800 --> 0:18:52.080 I was explaining just a very simple example of a 0:18:52.080 --> 0:18:55.520 supply chain of bread and probably hopefully expanded you're you're 0:18:55.560 --> 0:18:58.399 thinking about that and to understand how big of a 0:18:58.480 --> 0:19:01.640 story that really is. It wasn't exaggerated, as a matter 0:19:01.640 --> 0:19:04.840 of fact, I made it seem very very simple, but 0:19:04.880 --> 0:19:07.760 I was explaining how, um, you know, all these parts 0:19:07.880 --> 0:19:10.240 or all these products take lots and lots of parts 0:19:10.840 --> 0:19:15.280 and and it requires this massive coordination all over the world. 0:19:15.760 --> 0:19:17.080 And when I say all over the world, I mean 0:19:17.080 --> 0:19:18.760 all over the world. So this isn't just the United 0:19:18.800 --> 0:19:22.119 States problem. Think about the iPhone. If you have an iPhone, 0:19:22.160 --> 0:19:24.880 which I forget, I don't know people in the US 0:19:24.880 --> 0:19:26.560 have one or something like that half the people probably, 0:19:26.560 --> 0:19:29.720 I'm not sure. But think about the iPhone itself. Right, 0:19:29.760 --> 0:19:33.359 So the iPhone comes from China, but did you know 0:19:33.400 --> 0:19:35.399 the glass that's used on the iPhone actually comes from 0:19:35.440 --> 0:19:38.800 South Korea, and the semiconductors in the phone came from Taiwan, 0:19:39.440 --> 0:19:42.199 and the intellectual property design came from of course Apple 0:19:42.280 --> 0:19:45.560 in California. The iPhone includes like flash storage that comes 0:19:45.560 --> 0:19:50.480 from Japan, includes gyroscopes that come from Germany, has audio amplifiers, 0:19:50.680 --> 0:19:54.840 battery chargers, um batteries, cameras, hundreds of other advanced parts. 0:19:55.560 --> 0:19:59.520 In total, Apple works with suppliers in forty three different 0:19:59.560 --> 0:20:02.359 country these on six different continents to source all the 0:20:02.440 --> 0:20:05.959 materials that go just into the iPhone. And that's such 0:20:06.000 --> 0:20:08.119 a quick example. And what I was saying is how 0:20:08.800 --> 0:20:11.640 how do the people making the glass know how much 0:20:11.640 --> 0:20:14.360 glass to make, and the people to make the semiconductors 0:20:14.359 --> 0:20:16.040 and so all of that has to get coordinated is 0:20:16.080 --> 0:20:19.160 done by the price and the money. When I pay 0:20:19.240 --> 0:20:22.879