1 00:00:00,080 --> 00:00:03,560 Speaker 1: Everyone, Welcome to another episode of the Mark Mos Show 2 00:00:03,600 --> 00:00:08,360 Speaker 1: where we talk about the decentralized revolution. We're talking about bitcoin, cryptocurrencies. 3 00:00:08,360 --> 00:00:11,000 Speaker 1: We're talking about the world looking at through the lens 4 00:00:11,000 --> 00:00:15,880 Speaker 1: of politics, finance, and technology to understand what is going on, 5 00:00:16,320 --> 00:00:19,439 Speaker 1: uh and more importantly, where we are going of course, 6 00:00:19,480 --> 00:00:21,600 Speaker 1: how we should be navigating that if we talked about 7 00:00:21,600 --> 00:00:24,079 Speaker 1: that each end every week. So thanks for joining in. 8 00:00:24,120 --> 00:00:27,800 Speaker 1: We got a lot to cover on this episode. I 9 00:00:27,920 --> 00:00:30,440 Speaker 1: try to bring to you some you know, teaching moments 10 00:00:30,480 --> 00:00:32,680 Speaker 1: to kind of try to help you see things a 11 00:00:32,720 --> 00:00:34,800 Speaker 1: little bit differently. Of course, as I like to say 12 00:00:34,840 --> 00:00:39,080 Speaker 1: on my YouTube channel, almost everything you have learned is wrong. 13 00:00:39,880 --> 00:00:42,040 Speaker 1: Almost everything they're telling you is wrong. And so you 14 00:00:42,120 --> 00:00:45,320 Speaker 1: have to learn how to see through what we would 15 00:00:45,360 --> 00:00:48,640 Speaker 1: call first order thinking and the second order third order 16 00:00:48,640 --> 00:00:51,519 Speaker 1: look past headlines, learn how to um see this differently. 17 00:00:51,560 --> 00:00:53,960 Speaker 1: So of course we go through that, go through the 18 00:00:54,080 --> 00:00:56,440 Speaker 1: latest breaking news of the week, so you're caught up 19 00:00:56,440 --> 00:00:59,639 Speaker 1: to date. You know what's going on, and we want 20 00:00:59,680 --> 00:01:01,480 Speaker 1: to know what's going on so we can see these 21 00:01:01,560 --> 00:01:05,720 Speaker 1: changes as they move through. Of Course, as investors as 22 00:01:05,800 --> 00:01:08,160 Speaker 1: uh as people as humans trying to get through this, 23 00:01:08,280 --> 00:01:09,800 Speaker 1: we need to make sure that we're up to down 24 00:01:09,840 --> 00:01:11,520 Speaker 1: the news. I know a lot of people don't like 25 00:01:11,560 --> 00:01:14,880 Speaker 1: to pay attention to it, um, and there's certainly lots 26 00:01:14,880 --> 00:01:17,319 Speaker 1: of pointless stuff you don't need to be paying attention to. 27 00:01:17,680 --> 00:01:21,200 Speaker 1: But as investors, UM, as humans trying to navigate this, 28 00:01:21,360 --> 00:01:23,119 Speaker 1: we want to be up to date on what's going 29 00:01:23,160 --> 00:01:25,160 Speaker 1: on so we know how to move and react and 30 00:01:25,400 --> 00:01:27,840 Speaker 1: and accordingly, UM, and I want to make you sound 31 00:01:27,880 --> 00:01:30,080 Speaker 1: super smart. When you go out this weekend to one 32 00:01:30,120 --> 00:01:32,039 Speaker 1: of your cocktail parties, you'll know exactly what's going on, 33 00:01:32,080 --> 00:01:34,240 Speaker 1: and then try to bring you some late some some 34 00:01:34,280 --> 00:01:35,840 Speaker 1: really good guests so you don't have to just hear 35 00:01:35,880 --> 00:01:38,560 Speaker 1: me talk all the time. And so today, UM, for now, 36 00:01:38,640 --> 00:01:41,759 Speaker 1: let's go ahead and jump into uh some big subjects. 37 00:01:41,760 --> 00:01:43,920 Speaker 1: And some of these big subjects that I want to 38 00:01:43,959 --> 00:01:47,840 Speaker 1: talk about today is I want to look at the 39 00:01:47,960 --> 00:01:51,480 Speaker 1: evolution of money. Now, a lot of people don't understand 40 00:01:51,560 --> 00:01:54,640 Speaker 1: what money is. We went through this a few weeks ago. 41 00:01:55,760 --> 00:01:58,520 Speaker 1: I got back from the Freedom Fest UM where I 42 00:01:58,600 --> 00:02:01,640 Speaker 1: spoke out in Vegas, which was really cool. By the way, 43 00:02:01,720 --> 00:02:04,560 Speaker 1: check it out next year. Freedom Fest. I believe it's 44 00:02:04,560 --> 00:02:07,520 Speaker 1: just freedom, freest Free Freedom fest dot Com and if 45 00:02:07,520 --> 00:02:10,720 Speaker 1: you like freedom, then then you should probably check it out. 46 00:02:10,720 --> 00:02:13,600 Speaker 1: Hopefully you do like freedom. Today seems like freedom has 47 00:02:13,639 --> 00:02:17,200 Speaker 1: become somewhat of like a dirty word or something like that. 48 00:02:17,800 --> 00:02:20,679 Speaker 1: Somehow it's like some crazy right wing ideology you to 49 00:02:20,800 --> 00:02:22,240 Speaker 1: want to be free. I don't. I don't get that, 50 00:02:22,280 --> 00:02:25,440 Speaker 1: but I value freedom and hopefully you do as well. Um, 51 00:02:25,480 --> 00:02:27,680 Speaker 1: and so check out that freedom fest. But anyway, when 52 00:02:27,720 --> 00:02:29,520 Speaker 1: I got back from that, I I was explaining how 53 00:02:29,560 --> 00:02:33,359 Speaker 1: there's this um real big misconception or or really just 54 00:02:34,280 --> 00:02:38,600 Speaker 1: uh not even just a misunderstanding, but lack of understanding 55 00:02:39,200 --> 00:02:43,160 Speaker 1: of what money is. I get asked all the time, 56 00:02:43,320 --> 00:02:46,760 Speaker 1: I mean literally multiple times a day across social media. 57 00:02:46,800 --> 00:02:48,760 Speaker 1: I get thousands of comments every single week across all 58 00:02:48,760 --> 00:02:52,079 Speaker 1: my social media platforms, and I get asked multiple times 59 00:02:52,120 --> 00:02:56,399 Speaker 1: a day, Uh, how do I go and tell somebody 60 00:02:56,440 --> 00:02:58,960 Speaker 1: about bitcoin? Or how do I tell someone about cryptocurrencies? 61 00:02:59,040 --> 00:03:01,239 Speaker 1: Or what do I tell them? Um, you know, etcetera. 62 00:03:01,919 --> 00:03:05,800 Speaker 1: But it's very difficult when they don't understand what money is. 63 00:03:05,919 --> 00:03:08,280 Speaker 1: We went through that. Um, if you miss that, don't worry, 64 00:03:08,280 --> 00:03:10,200 Speaker 1: I got your back. You can go check it out 65 00:03:10,240 --> 00:03:12,800 Speaker 1: on the podcast Just search Market Moss podcast on your 66 00:03:12,840 --> 00:03:16,760 Speaker 1: favorite podcast player, UM iTunes, UM if you check out 67 00:03:16,800 --> 00:03:19,960 Speaker 1: iTunes or the I Heart Music app as well. UM. 68 00:03:20,000 --> 00:03:22,320 Speaker 1: So it was probably two weeks ago. You probably go 69 00:03:22,360 --> 00:03:24,720 Speaker 1: back and find that. So we went through what money is. 70 00:03:24,760 --> 00:03:27,560 Speaker 1: But I want to talk today about the evolution of money, 71 00:03:27,880 --> 00:03:30,440 Speaker 1: and we're gonna take it all the way to UM, 72 00:03:30,600 --> 00:03:35,120 Speaker 1: U S treasuries, bonds. We're gonna talking about the financial markets. 73 00:03:35,160 --> 00:03:38,480 Speaker 1: You can understand how this evolves, what money is and 74 00:03:38,520 --> 00:03:41,400 Speaker 1: how that fits into that. So hopefully that makes sense 75 00:03:41,400 --> 00:03:43,000 Speaker 1: to you. So we're gonna talk about the evolution of money. 76 00:03:43,400 --> 00:03:46,320 Speaker 1: We're gonna talk about risk assets UM, places that we 77 00:03:46,360 --> 00:03:49,960 Speaker 1: put money, stores of value. We'll talk about how bitcoin 78 00:03:50,040 --> 00:03:53,800 Speaker 1: fits into that, UM, correlation with stocks, UM, We'll talk 79 00:03:53,800 --> 00:03:56,120 Speaker 1: about commodities, other ways we can other places we can 80 00:03:56,120 --> 00:03:57,880 Speaker 1: put money, and then, like I said, take it all 81 00:03:57,920 --> 00:04:00,360 Speaker 1: the way to U S treasuries. UM. We we have 82 00:04:00,440 --> 00:04:06,920 Speaker 1: a really big report that just came out from Bloomberg Intelligence. UM. 83 00:04:06,960 --> 00:04:09,120 Speaker 1: You know, pretty credible people to listen to, and so 84 00:04:09,200 --> 00:04:12,400 Speaker 1: I want to cover this new report talking about UM 85 00:04:12,440 --> 00:04:16,280 Speaker 1: what they see happening with commodities and treasuries and bitcoin. 86 00:04:16,400 --> 00:04:19,560 Speaker 1: Lots of cover this week, So let's jump in. By 87 00:04:19,560 --> 00:04:21,200 Speaker 1: the way, if you're just tuning in, you're listening to 88 00:04:21,279 --> 00:04:23,440 Speaker 1: the markma Show. Of course we talk about like what 89 00:04:23,520 --> 00:04:26,240 Speaker 1: I like to call the decentralized revolution. If you don't 90 00:04:26,240 --> 00:04:28,279 Speaker 1: know what that means, well don't worry out. So recently 91 00:04:28,320 --> 00:04:29,919 Speaker 1: did a show on that, So go back on the 92 00:04:29,960 --> 00:04:32,480 Speaker 1: podcast and check out that episode if you want to 93 00:04:32,520 --> 00:04:34,760 Speaker 1: know what I'm talking about. But I'm talking about through 94 00:04:34,760 --> 00:04:37,159 Speaker 1: the lens of politics, finance, and technology to see how 95 00:04:37,200 --> 00:04:40,600 Speaker 1: this world is changing. And we're witnessing the pendulum shifting 96 00:04:40,960 --> 00:04:45,560 Speaker 1: from centralization swinging back to decentralization. So that's what we're 97 00:04:45,600 --> 00:04:48,040 Speaker 1: talking about. So the first thing is um, Like I said, 98 00:04:48,080 --> 00:04:50,720 Speaker 1: not going back into what is money, I've covered that 99 00:04:50,800 --> 00:04:54,560 Speaker 1: at length, but really about the evolution of money. So 100 00:04:54,600 --> 00:04:57,479 Speaker 1: what we use as money? So money just real quickly, 101 00:04:57,600 --> 00:05:03,479 Speaker 1: it's a store of value you or communicates value. It communication. 102 00:05:04,080 --> 00:05:09,880 Speaker 1: We can think of it as um, a favor, it's 103 00:05:10,080 --> 00:05:12,320 Speaker 1: it's it's reflective of the good will that I put 104 00:05:12,320 --> 00:05:15,360 Speaker 1: into the world. Um. But what we want to use 105 00:05:15,440 --> 00:05:17,479 Speaker 1: as money? What do we want to use to communicate 106 00:05:17,480 --> 00:05:20,320 Speaker 1: that value? Well, it's changed throughout history. It's been many things. 107 00:05:20,360 --> 00:05:25,200 Speaker 1: It's been rocks and feathers and seashells. Um. It's been commodities, 108 00:05:25,600 --> 00:05:28,880 Speaker 1: it's been wheat, it's been oil, it's been gold. Right, 109 00:05:28,920 --> 00:05:32,599 Speaker 1: gold has been money for five thousand years and it's 110 00:05:32,640 --> 00:05:36,440 Speaker 1: and you have to understand, um, first, that nobody wants money. 111 00:05:36,960 --> 00:05:40,320 Speaker 1: What they want is the things that money will get them. Right, 112 00:05:40,360 --> 00:05:43,200 Speaker 1: So what we want is goods and services. We want food. 113 00:05:43,839 --> 00:05:46,000 Speaker 1: We want food, we want shelter, we want clothing, we 114 00:05:46,040 --> 00:05:48,920 Speaker 1: want energy, um. And then we want other things after 115 00:05:49,000 --> 00:05:51,320 Speaker 1: those basic things are taken care of, and so we 116 00:05:51,400 --> 00:05:54,160 Speaker 1: want the things money will get us. We don't want 117 00:05:54,160 --> 00:05:55,920 Speaker 1: the money. So in the beginning, we didn't have money. 118 00:05:55,920 --> 00:05:58,640 Speaker 1: We just had barter. I wanted a chicken, you wanted 119 00:05:58,680 --> 00:06:03,240 Speaker 1: to go, so we would trade. But eventually if you, um, 120 00:06:03,040 --> 00:06:05,279 Speaker 1: I had a chicken, you had a goat. But the 121 00:06:05,360 --> 00:06:07,800 Speaker 1: chickens not worth one goat, and it's not really easy 122 00:06:07,839 --> 00:06:10,359 Speaker 1: to divide the goat up, so we don't have a 123 00:06:10,360 --> 00:06:12,000 Speaker 1: trade there. Or you don't like chicken, so we have 124 00:06:12,080 --> 00:06:13,840 Speaker 1: no trade there. So then I might say, well, hey, 125 00:06:13,839 --> 00:06:18,159 Speaker 1: would you take this item instead? And now that item 126 00:06:18,360 --> 00:06:21,920 Speaker 1: is what neither of us really wanted, But it becomes 127 00:06:21,920 --> 00:06:25,279 Speaker 1: a medium of exchange m O E. So UM, in 128 00:06:25,320 --> 00:06:28,000 Speaker 1: the evolution of money will break down house works. But 129 00:06:28,240 --> 00:06:31,200 Speaker 1: it goes from this barter system to this medium of exchange. 130 00:06:31,920 --> 00:06:35,679 Speaker 1: And what's important to understand is in this process, enough 131 00:06:35,760 --> 00:06:39,200 Speaker 1: things become kind of common to be this medium of 132 00:06:39,200 --> 00:06:44,040 Speaker 1: exchange that eventually one will emerge to become the best one. 133 00:06:44,160 --> 00:06:48,680 Speaker 1: So it's emergent. So free markets choose it based off 134 00:06:48,760 --> 00:06:53,320 Speaker 1: of what more people want than other things. Now there's 135 00:06:53,360 --> 00:06:58,040 Speaker 1: an evolution to how this money works, and so UM 136 00:06:58,080 --> 00:07:02,279 Speaker 1: it starts out as typically collectible. So remember, we don't 137 00:07:02,360 --> 00:07:04,560 Speaker 1: want the money, we want the things that it gets us. 138 00:07:04,600 --> 00:07:06,800 Speaker 1: So what I want is the goat, or I want 139 00:07:06,839 --> 00:07:09,320 Speaker 1: the chicken. You don't want what I have, so would 140 00:07:09,360 --> 00:07:11,640 Speaker 1: you take this other thing instead? So it has to 141 00:07:11,680 --> 00:07:16,520 Speaker 1: be recognizable, has to be somewhat desirable. UM, and you 142 00:07:16,640 --> 00:07:19,560 Speaker 1: have you know, widely accepted. So maybe you want to 143 00:07:19,560 --> 00:07:21,360 Speaker 1: be able to trade that to somebody else and so 144 00:07:21,440 --> 00:07:25,760 Speaker 1: that mediate exchange I would have this evolution to it. 145 00:07:25,920 --> 00:07:29,160 Speaker 1: And so the way that works is typically it starts 146 00:07:29,200 --> 00:07:32,760 Speaker 1: out as being a collectible. Hey, look at this cool rock. 147 00:07:33,120 --> 00:07:35,560 Speaker 1: Look at this cool feather that I found, and and 148 00:07:35,600 --> 00:07:38,360 Speaker 1: it's cool, you like it. It's unique because it's it's 149 00:07:38,400 --> 00:07:41,480 Speaker 1: unique because it's scarce. So wow, you don't find rocks 150 00:07:41,520 --> 00:07:44,320 Speaker 1: that look like this very often. This is super rare. 151 00:07:44,800 --> 00:07:47,600 Speaker 1: Look how cool this rock is. Or look at this feather. 152 00:07:47,680 --> 00:07:50,320 Speaker 1: I've never seen a feather like this before. This feather 153 00:07:50,400 --> 00:07:53,200 Speaker 1: is amazing. I'm gonna save this feather. This seashell, I've 154 00:07:53,240 --> 00:07:55,559 Speaker 1: never seen the seashell. The seashell is not from around 155 00:07:55,640 --> 00:07:58,000 Speaker 1: this area. We've never seen this before. This is really cool. 156 00:07:58,040 --> 00:08:00,280 Speaker 1: I'm going to collect it. So see how that works. 157 00:08:00,400 --> 00:08:02,200 Speaker 1: We don't. We don't collect things that are super common 158 00:08:02,200 --> 00:08:04,440 Speaker 1: that you find everywhere. We collect things that are rare. 159 00:08:05,200 --> 00:08:08,360 Speaker 1: So think about that first, the scarcity aspect of that 160 00:08:08,680 --> 00:08:12,600 Speaker 1: must be unique, must be scarce, and then we collect it. 161 00:08:12,640 --> 00:08:14,720 Speaker 1: And it could be baseball cards we collect, it could 162 00:08:14,720 --> 00:08:18,520 Speaker 1: be seashells that we collect. I know my daughters they 163 00:08:18,640 --> 00:08:21,640 Speaker 1: love to collect sea glass. We're surfers, so we travel 164 00:08:21,640 --> 00:08:23,440 Speaker 1: the world. We go to beaches all over the world, 165 00:08:23,880 --> 00:08:26,520 Speaker 1: and everywhere we go they like to find the sea glass. 166 00:08:26,520 --> 00:08:29,280 Speaker 1: So bottles that have broken, they get tumbled in the sand, 167 00:08:29,280 --> 00:08:31,480 Speaker 1: and the rocks for you know, who knows long, how 168 00:08:31,560 --> 00:08:34,600 Speaker 1: long years? And the sea glass is no longer sharp, 169 00:08:34,679 --> 00:08:37,840 Speaker 1: jagged and broken glass. Instead it gets rounded and smooth, 170 00:08:38,080 --> 00:08:40,600 Speaker 1: and we can find it in green and blue and 171 00:08:40,640 --> 00:08:43,920 Speaker 1: white and all these different colors of sea glass UM. 172 00:08:44,040 --> 00:08:47,959 Speaker 1: And the bigger the pieces are, the smooth they are, UM, 173 00:08:48,000 --> 00:08:50,640 Speaker 1: the better, the more desirable they are. And then there's 174 00:08:50,679 --> 00:08:53,720 Speaker 1: like some really unique colors. So like to find blue 175 00:08:53,760 --> 00:08:56,320 Speaker 1: sea glass, for example, is very rare. How many bottles 176 00:08:56,320 --> 00:08:58,000 Speaker 1: do you see that are blue? Right? You don't see any. 177 00:08:58,080 --> 00:09:00,920 Speaker 1: So to find the blue sea glass is way more 178 00:09:01,720 --> 00:09:04,960 Speaker 1: desirable than like white sea glass is because you see 179 00:09:04,960 --> 00:09:08,200 Speaker 1: white sea glass all over the place, all right, green 180 00:09:08,240 --> 00:09:10,360 Speaker 1: sea glass you see a little bit more often. Anyway, 181 00:09:10,679 --> 00:09:12,960 Speaker 1: I'm gonna talk more about this evolution of money, and 182 00:09:12,960 --> 00:09:15,360 Speaker 1: then we'll talk about different types of money, and then 183 00:09:15,360 --> 00:09:17,920 Speaker 1: we'll start talking about different assets like stocks and then 184 00:09:18,000 --> 00:09:20,600 Speaker 1: bonds and what this new report says. You're listening to 185 00:09:20,600 --> 00:09:23,839 Speaker 1: the Mark Moa Show talking about the evolution of money. 186 00:09:24,080 --> 00:09:26,360 Speaker 1: We'll be back with all of this and more in 187 00:09:26,360 --> 00:09:28,760 Speaker 1: a minute. Don't go away, I'm gonna be right back, 188 00:09:29,240 --> 00:09:31,920 Speaker 1: all right, Welcome back. You are listening to the markma Show. 189 00:09:31,920 --> 00:09:34,720 Speaker 1: We're talking about the decentralized revolution each end every week, 190 00:09:34,760 --> 00:09:38,160 Speaker 1: talking about the way the world is changing, looking at 191 00:09:38,200 --> 00:09:40,439 Speaker 1: through the lens of politics, finance, and technology. Today we're 192 00:09:40,440 --> 00:09:44,160 Speaker 1: talking about, um, the evolution of money and not what 193 00:09:44,360 --> 00:09:46,559 Speaker 1: is money. We've covered that before. Evolution of money. We're 194 00:09:46,559 --> 00:09:48,160 Speaker 1: gonna go into different types of money. We're gonna go 195 00:09:48,200 --> 00:09:51,199 Speaker 1: into risk assets like tech stocks. We're gonna talk about 196 00:09:51,200 --> 00:09:53,640 Speaker 1: the correlation of the new types of money with tech stocks. 197 00:09:53,640 --> 00:09:55,720 Speaker 1: We're gonna look at them, the U S. Treasuries, bonds, 198 00:09:56,440 --> 00:09:59,360 Speaker 1: And I'm gonna talk about a report that just came 199 00:09:59,360 --> 00:10:04,240 Speaker 1: out from Berg Intelligence that shows that the way or 200 00:10:04,280 --> 00:10:06,960 Speaker 1: the evolution of money is alive end well today and 201 00:10:06,960 --> 00:10:08,960 Speaker 1: if you don't know what's going on, then you're gonna 202 00:10:08,960 --> 00:10:11,079 Speaker 1: be left behind. So back to what we were saying, 203 00:10:11,800 --> 00:10:14,280 Speaker 1: we start collecting things. I was talking about how my 204 00:10:14,360 --> 00:10:16,760 Speaker 1: daughters collect sea glass, and the more rare the sea 205 00:10:16,800 --> 00:10:18,960 Speaker 1: glass is, the better it is, the more collectible it is. 206 00:10:18,960 --> 00:10:21,520 Speaker 1: So blue sea glass being that um, so there's rocks, 207 00:10:21,520 --> 00:10:24,839 Speaker 1: these feathers, they became rare, and eventually enough people start 208 00:10:24,880 --> 00:10:30,400 Speaker 1: collecting these things that then they could maybe eventually a 209 00:10:30,480 --> 00:10:35,319 Speaker 1: collectible could evolve into what's known as a store of values. 210 00:10:35,360 --> 00:10:37,800 Speaker 1: So the first type of money is a medium of exchange, 211 00:10:37,840 --> 00:10:42,720 Speaker 1: then the next store of value. So some collectibles become 212 00:10:42,840 --> 00:10:46,480 Speaker 1: good stores of value. Some don't. Now today we see 213 00:10:46,559 --> 00:10:49,160 Speaker 1: rich people all over the world storing their wealth, storing 214 00:10:49,200 --> 00:10:53,920 Speaker 1: their value, a store value in collectibles. So rare cars, 215 00:10:54,000 --> 00:10:58,720 Speaker 1: old cars, jewelry, fine art, things like that, those become 216 00:10:58,760 --> 00:11:01,760 Speaker 1: collectibles and they store lots of wealth. They could store 217 00:11:02,160 --> 00:11:05,600 Speaker 1: millions and millions of dollars in one car, in one painting. 218 00:11:06,760 --> 00:11:10,040 Speaker 1: You could have twenty million, thirty million, fifty million dollars 219 00:11:10,080 --> 00:11:13,480 Speaker 1: in an art collections your story and your wealth. Instead 220 00:11:13,520 --> 00:11:15,720 Speaker 1: of storing it in cash in the bank, or instead 221 00:11:15,760 --> 00:11:18,040 Speaker 1: of storing it in stock, you're storing it in art 222 00:11:18,280 --> 00:11:23,200 Speaker 1: right or cars. Now, not all collectibles becomes stores of value. 223 00:11:24,720 --> 00:11:28,120 Speaker 1: A lot of collectibles most collectibles never do. So you 224 00:11:28,160 --> 00:11:30,400 Speaker 1: know some baseball cards, some people probably have a lot 225 00:11:30,480 --> 00:11:33,160 Speaker 1: of their wealth tied up in baseball cards, things like that. 226 00:11:33,240 --> 00:11:36,800 Speaker 1: But if I found a really cool flower, for example, 227 00:11:36,840 --> 00:11:39,080 Speaker 1: I might collect that flower. It's never gonna be a 228 00:11:39,080 --> 00:11:42,600 Speaker 1: good store of value because it's not durable. It could 229 00:11:42,600 --> 00:11:46,240 Speaker 1: be lots of reasons why these these collectibles never evolved. 230 00:11:46,880 --> 00:11:49,280 Speaker 1: The reason why I'm breaking this down from this beginning 231 00:11:49,320 --> 00:11:52,439 Speaker 1: is because I need you to understand this evolutionary process. 232 00:11:53,360 --> 00:11:59,280 Speaker 1: If the right attributes are there, then it can evolve. 233 00:11:59,800 --> 00:12:02,679 Speaker 1: If it doesn't have the right attributes, then it can't evolve. Now, 234 00:12:02,880 --> 00:12:07,200 Speaker 1: it could have the right attributes and not evolve, but 235 00:12:07,400 --> 00:12:09,000 Speaker 1: it has to have the right attributes. And I want 236 00:12:09,000 --> 00:12:13,440 Speaker 1: you to understand this. So just because something isn't that 237 00:12:13,559 --> 00:12:16,840 Speaker 1: future thing today doesn't mean that it won't eventually get there, 238 00:12:17,040 --> 00:12:18,480 Speaker 1: all right, So I'm gonna break that down a little 239 00:12:18,480 --> 00:12:20,559 Speaker 1: bit more for you. But so that's how that works. 240 00:12:20,600 --> 00:12:24,960 Speaker 1: So we start with a collectible. It could potentially evolve 241 00:12:25,160 --> 00:12:30,720 Speaker 1: into a store of value like um, like fine art. Now, 242 00:12:31,000 --> 00:12:34,880 Speaker 1: if enough people collect it, and if people enough people 243 00:12:35,000 --> 00:12:38,280 Speaker 1: park their wealth in it store of value their value 244 00:12:38,280 --> 00:12:42,000 Speaker 1: in it, then it could maybe evolve to the next stage, 245 00:12:42,400 --> 00:12:47,240 Speaker 1: which would be a medium of exchange. Okay, medium of 246 00:12:47,280 --> 00:12:51,000 Speaker 1: exchange m o E. Now, in order for it to 247 00:12:51,120 --> 00:12:53,480 Speaker 1: have in order for it to be a good money 248 00:12:53,640 --> 00:12:56,040 Speaker 1: and a good store value, it has to have certain attributes. 249 00:12:56,360 --> 00:12:58,360 Speaker 1: There's a lot of attributes of it. I typically like 250 00:12:58,400 --> 00:13:01,960 Speaker 1: to think about five attributes of what money is. And 251 00:13:02,040 --> 00:13:03,959 Speaker 1: so in order for it to be a good money, 252 00:13:04,320 --> 00:13:07,199 Speaker 1: it has to be for a good store value has 253 00:13:07,240 --> 00:13:10,199 Speaker 1: to be durable. So durable is one of those attributes. 254 00:13:10,360 --> 00:13:14,280 Speaker 1: So bananas are not good stores of value or mediums 255 00:13:14,280 --> 00:13:17,280 Speaker 1: that exchanged because they're not durable. They last whatever a week, 256 00:13:17,640 --> 00:13:21,080 Speaker 1: right and they go back. So it must be durable. Um. 257 00:13:21,200 --> 00:13:24,640 Speaker 1: On top of that, it must be portable, so you 258 00:13:24,679 --> 00:13:26,600 Speaker 1: need to be able to move it around. If if 259 00:13:26,720 --> 00:13:29,880 Speaker 1: if if we use cars. Cars aren't real portable. I mean, 260 00:13:29,880 --> 00:13:31,560 Speaker 1: I guess we could drive one, but like a collector's 261 00:13:31,559 --> 00:13:35,760 Speaker 1: car for example, fine art, it's not super portable. I 262 00:13:35,760 --> 00:13:37,360 Speaker 1: can't put it in my pocket, I can't carry it 263 00:13:37,360 --> 00:13:41,120 Speaker 1: with me. So it must be durable. It must be portable. 264 00:13:41,840 --> 00:13:45,080 Speaker 1: It must be divisible. And so this is a problem. 265 00:13:45,120 --> 00:13:47,400 Speaker 1: This is where barter fails. Is I have this cow, 266 00:13:47,520 --> 00:13:49,040 Speaker 1: but you don't want a whole cow. But I can't 267 00:13:49,080 --> 00:13:51,520 Speaker 1: just take off a chunk of the cow. Same with 268 00:13:51,640 --> 00:13:55,240 Speaker 1: the car. I have this, you know whatever, n Chevy. Um, 269 00:13:55,240 --> 00:13:57,240 Speaker 1: it's not divisible. You have to take the whole car. 270 00:13:57,520 --> 00:13:59,040 Speaker 1: I'm not going to just break off a wheel and 271 00:13:59,040 --> 00:14:01,120 Speaker 1: give you the wheel for that are So it must 272 00:14:01,160 --> 00:14:04,680 Speaker 1: be portable. It must be durable. So the car would 273 00:14:04,679 --> 00:14:07,360 Speaker 1: be durable. Um, it's not really portable. I can't take 274 00:14:07,400 --> 00:14:10,439 Speaker 1: it my pocket, carry with me and certainly not divisible, 275 00:14:10,840 --> 00:14:15,360 Speaker 1: all right, Then it also has to be fungible, and 276 00:14:15,400 --> 00:14:18,800 Speaker 1: so fungible means one is worth one so old dirty 277 00:14:18,800 --> 00:14:22,240 Speaker 1: dollar that's ripped up and torn is worth one brand new, 278 00:14:22,320 --> 00:14:25,160 Speaker 1: crisp clean dollar. Right, so it's it's fungible. One dollar 279 00:14:25,240 --> 00:14:30,120 Speaker 1: is always worth one dollar, and so again, most collectibles 280 00:14:30,560 --> 00:14:33,960 Speaker 1: are not fungible. So one piece of sea glass is 281 00:14:34,000 --> 00:14:35,840 Speaker 1: never the same as one other piece of sea glass. 282 00:14:36,280 --> 00:14:38,960 Speaker 1: One baseball card is never the same as another baseball card. 283 00:14:39,280 --> 00:14:41,480 Speaker 1: This one is a little bit in better condition than 284 00:14:41,480 --> 00:14:43,920 Speaker 1: this one, right, so even if they're the exact same card, 285 00:14:44,520 --> 00:14:49,160 Speaker 1: one might be in better conditions. Collectible gold coins, for example, um, 286 00:14:49,280 --> 00:14:51,640 Speaker 1: so they could be the same year, the same coin, 287 00:14:52,040 --> 00:14:54,200 Speaker 1: but you know one has a little bit more aware 288 00:14:54,240 --> 00:14:56,400 Speaker 1: on it than the other. So they're not fungible. So 289 00:14:56,440 --> 00:14:59,480 Speaker 1: we need it to be portable, divisible, durable, but it 290 00:14:59,600 --> 00:15:04,440 Speaker 1: has to to be fungible. Bananas aren't fungible, flowers aren't fungible. 291 00:15:04,640 --> 00:15:09,320 Speaker 1: Cars aren't fungible. Most collectibles art are not fungible. So 292 00:15:09,360 --> 00:15:12,440 Speaker 1: it has to have that quality, and then it has 293 00:15:12,480 --> 00:15:18,040 Speaker 1: to be sailable or recognizable. And so what good is 294 00:15:18,040 --> 00:15:22,000 Speaker 1: it if I have this money, this collectible that that 295 00:15:22,120 --> 00:15:25,880 Speaker 1: has all those attributes, but nobody wants it, right, so 296 00:15:26,040 --> 00:15:28,000 Speaker 1: it would do me no good. And that's why we 297 00:15:28,040 --> 00:15:30,400 Speaker 1: started to see money start to emerge as something that 298 00:15:30,480 --> 00:15:34,440 Speaker 1: was recognizable by everybody. So gold emerged as that because 299 00:15:34,600 --> 00:15:39,400 Speaker 1: gold had all those class those those uh, those attributes. Right. 300 00:15:39,440 --> 00:15:42,720 Speaker 1: So gold is durable. You can't you can't destroy gold. 301 00:15:43,000 --> 00:15:44,760 Speaker 1: Gold could sid at the bottom of the ocean for 302 00:15:44,760 --> 00:15:46,280 Speaker 1: a hundred years and you can bring it back up 303 00:15:46,280 --> 00:15:48,720 Speaker 1: and it'd be the same gold. So gold is very, 304 00:15:48,840 --> 00:15:53,360 Speaker 1: very durable. All the gold that's been brought above ground 305 00:15:54,200 --> 00:15:57,280 Speaker 1: is still in existence today. It doesn't get used up, 306 00:15:57,360 --> 00:16:02,720 Speaker 1: So it's very durable. It's it's uh, it's it's definitely divisible. 307 00:16:02,800 --> 00:16:04,760 Speaker 1: You could break it down into ounces, you could break 308 00:16:04,760 --> 00:16:11,640 Speaker 1: it down into Graham's right, So it's divisible. Um, it's recognizable, 309 00:16:11,720 --> 00:16:14,560 Speaker 1: it's sailable. So people all over the world recognize gold. 310 00:16:14,600 --> 00:16:17,240 Speaker 1: Gold is valued in every culture and every country of 311 00:16:17,280 --> 00:16:19,960 Speaker 1: the world. Where gold really has a problem is in 312 00:16:20,000 --> 00:16:22,560 Speaker 1: the portability. So it was pretty portable, right, I can 313 00:16:22,600 --> 00:16:24,080 Speaker 1: break it into coins, I can put a bunch of 314 00:16:24,120 --> 00:16:26,400 Speaker 1: coins in my in my pocket, I can carry it around. 315 00:16:26,960 --> 00:16:29,440 Speaker 1: But the problem is when we moved into the information 316 00:16:29,480 --> 00:16:32,160 Speaker 1: age is really where gold had a problem, and of 317 00:16:32,200 --> 00:16:34,280 Speaker 1: course really it started earlier than that, about the fourteen 318 00:16:34,400 --> 00:16:37,440 Speaker 1: hundreds when we started doing global trade. It's very hard 319 00:16:37,480 --> 00:16:40,240 Speaker 1: to send ships of gold across the seas without getting 320 00:16:40,320 --> 00:16:42,560 Speaker 1: robbed by pirates and without crashing in the Caribbean and 321 00:16:42,560 --> 00:16:46,080 Speaker 1: sending all that gold to the bottom of the sea. Um. 322 00:16:46,200 --> 00:16:49,640 Speaker 1: So you understand that this money has this evolutionary process. 323 00:16:49,720 --> 00:16:53,440 Speaker 1: But the problem is today is that gold that's emerged 324 00:16:53,480 --> 00:16:56,520 Speaker 1: as the best for money doesn't really have that the 325 00:16:57,200 --> 00:16:59,360 Speaker 1: one of the main attributes we needed, which is portability 326 00:16:59,360 --> 00:17:03,600 Speaker 1: and sellability. Now we now use dollars. The dollar is 327 00:17:03,640 --> 00:17:06,399 Speaker 1: the most used money of the world today. It's the 328 00:17:06,440 --> 00:17:10,040 Speaker 1: reserve currency of the entire world today, and it has 329 00:17:10,080 --> 00:17:13,120 Speaker 1: a lot of the attributes. So it's definitely recognizable. It's 330 00:17:13,160 --> 00:17:17,560 Speaker 1: sellable for sure. It's super portable, right, so I don't 331 00:17:17,560 --> 00:17:19,399 Speaker 1: even carry cash anymore now I can just zip it 332 00:17:19,400 --> 00:17:22,240 Speaker 1: around electronically, right with debit cards and wire transfers and 333 00:17:22,280 --> 00:17:25,120 Speaker 1: things like that. So it's definitely portable. So it's recognizable, 334 00:17:25,400 --> 00:17:28,959 Speaker 1: it's portable, it's divisible, right, I can easily wire you 335 00:17:29,040 --> 00:17:32,159 Speaker 1: a million dollars or I could give you a penny, right, 336 00:17:32,200 --> 00:17:37,240 Speaker 1: so it's divisible down to a penny um. The problem 337 00:17:37,320 --> 00:17:41,640 Speaker 1: is that it's not very scarce. It doesn't work as 338 00:17:41,680 --> 00:17:44,679 Speaker 1: a good store of value. So there's trade offs with 339 00:17:44,720 --> 00:17:46,880 Speaker 1: each one of these things. Gold could be a better 340 00:17:46,960 --> 00:17:50,040 Speaker 1: store of value, while money has other properties such as 341 00:17:50,440 --> 00:17:52,760 Speaker 1: it's more portable. All right, you're listening to the Mark 342 00:17:52,800 --> 00:17:54,520 Speaker 1: Mao Show. We're talking about the evolution of money. We're 343 00:17:54,560 --> 00:17:57,320 Speaker 1: looking at it through the lens of gold and money 344 00:17:57,320 --> 00:17:59,239 Speaker 1: and other assets that are emerging today. We're gonna go 345 00:17:59,240 --> 00:18:01,199 Speaker 1: and look at it all the way through stocks and 346 00:18:01,200 --> 00:18:04,600 Speaker 1: other things like that, and then into treasury bonds, which 347 00:18:04,600 --> 00:18:07,120 Speaker 1: are the best form of money for sovereigns today. You're 348 00:18:07,160 --> 00:18:08,600 Speaker 1: listening to the Market Show. I got a lot more 349 00:18:08,600 --> 00:18:10,520 Speaker 1: to cover when I come back. Don't go away, I'll 350 00:18:10,520 --> 00:18:13,720 Speaker 1: be right back. All right, welcome back. You are listening 351 00:18:13,760 --> 00:18:16,560 Speaker 1: to the Mark mo Show. We're talking about the decentralized revolution. 352 00:18:16,600 --> 00:18:18,879 Speaker 1: Of course, like we do each end every week. If 353 00:18:18,880 --> 00:18:21,199 Speaker 1: you're not tuned in age and every week, what are 354 00:18:21,200 --> 00:18:23,359 Speaker 1: you even doing. If you're listening on the radio just 355 00:18:24,040 --> 00:18:26,560 Speaker 1: and you're not driving, grab your phone. Pull over. If 356 00:18:26,560 --> 00:18:29,480 Speaker 1: you're driving, grab your phone. Put out a reminder for 357 00:18:29,520 --> 00:18:31,320 Speaker 1: this date, this time, this channel. Make sure you tune 358 00:18:31,320 --> 00:18:34,560 Speaker 1: with me each end every week and if you don't, 359 00:18:34,640 --> 00:18:36,240 Speaker 1: if you miss out. If you missed any of this, 360 00:18:36,640 --> 00:18:39,679 Speaker 1: don't worry. You can catch it on the podcast. Just 361 00:18:39,720 --> 00:18:42,400 Speaker 1: go search Mark Moss Podcast The Mark Moss Show on 362 00:18:42,440 --> 00:18:46,439 Speaker 1: any of your favorite podcast players, on iTunes, on the 363 00:18:46,480 --> 00:18:49,680 Speaker 1: I Heart Music app, or wherever you listen to those. Alright, 364 00:18:49,680 --> 00:18:52,240 Speaker 1: so we're talking about this evolution of money so you 365 00:18:52,240 --> 00:18:55,800 Speaker 1: can understand how this is working. We're gonna take it 366 00:18:55,880 --> 00:18:58,160 Speaker 1: all the way through, all the way to different types 367 00:18:58,200 --> 00:19:02,160 Speaker 1: of money, including treasury bonds and like US treasuries, which 368 00:19:02,200 --> 00:19:05,440 Speaker 1: are basically considered risk free assets. We're gonna take it 369 00:19:05,440 --> 00:19:07,320 Speaker 1: all the way to there. But we started with the 370 00:19:07,480 --> 00:19:11,800 Speaker 1: evolution of money, starting with the barter, c sales, rocks, feathers, 371 00:19:11,800 --> 00:19:15,399 Speaker 1: et cetera. Talked about how one emerged gold um and 372 00:19:15,440 --> 00:19:18,200 Speaker 1: we talked about the shortcomings of gold, and so now 373 00:19:18,320 --> 00:19:21,000 Speaker 1: gold it's not portable, and so we had to put 374 00:19:21,119 --> 00:19:23,280 Speaker 1: debt on top of it, which were the paper goalstificates 375 00:19:23,280 --> 00:19:25,800 Speaker 1: of the dollars. But then those have shortcomings as well 376 00:19:25,840 --> 00:19:28,400 Speaker 1: because they're not scarce and so they print too many 377 00:19:28,440 --> 00:19:30,359 Speaker 1: of them. Um, so that's a big problem of them. 378 00:19:30,400 --> 00:19:35,600 Speaker 1: And also, um, they have they have, they're they're basically liabilities. 379 00:19:35,880 --> 00:19:37,280 Speaker 1: And so if I have the gold, I have the gold. 380 00:19:37,320 --> 00:19:39,560 Speaker 1: No one has the gold. But the paper goalstificates mean 381 00:19:39,640 --> 00:19:42,919 Speaker 1: that somebody owes me something. So you can see those 382 00:19:42,960 --> 00:19:45,639 Speaker 1: different types of money. Now, UM, I frame that up, 383 00:19:45,680 --> 00:19:47,600 Speaker 1: and now let's talk about the new evolution of money, 384 00:19:47,600 --> 00:19:49,760 Speaker 1: which is bitcoin, which a lot of you might be 385 00:19:49,880 --> 00:19:51,760 Speaker 1: rolling your eyes, and I hear it all the time, 386 00:19:51,800 --> 00:19:54,720 Speaker 1: which is all bitcoin. When the bitcoin is not good 387 00:19:54,720 --> 00:19:58,320 Speaker 1: money because it's too volatile. Bitcoin is not good because 388 00:19:58,400 --> 00:20:01,399 Speaker 1: it's x y z filling the it's too volatible is 389 00:20:01,440 --> 00:20:03,760 Speaker 1: typically what we hear. It's not a good store of value. 390 00:20:03,800 --> 00:20:06,600 Speaker 1: Look how much it's down from it's all time high, right, 391 00:20:06,680 --> 00:20:08,920 Speaker 1: and those types of things. And so the reason why 392 00:20:08,920 --> 00:20:11,919 Speaker 1: we started with this evolution process is so that you 393 00:20:11,920 --> 00:20:17,200 Speaker 1: can understand that nothing, nothing emerges completely built. It's always 394 00:20:17,240 --> 00:20:20,720 Speaker 1: an evolution. All technologies are like that. Um, if you 395 00:20:20,760 --> 00:20:23,960 Speaker 1: saw like a like a little baby animal being born 396 00:20:24,080 --> 00:20:26,240 Speaker 1: or a human being born, right, I mean you say, 397 00:20:26,359 --> 00:20:28,600 Speaker 1: there's no way that little baby would ever be you know, 398 00:20:28,640 --> 00:20:30,919 Speaker 1: an all star athlete for example. Look how small the 399 00:20:30,920 --> 00:20:32,560 Speaker 1: baby can't even sit up, but can't even hold its 400 00:20:32,560 --> 00:20:36,080 Speaker 1: head up. It's like, well, give it time, like it 401 00:20:36,119 --> 00:20:39,120 Speaker 1: will grow. It could become that that all star athlete. 402 00:20:39,640 --> 00:20:41,959 Speaker 1: It's like if you're looking at you know whatever, Lebron 403 00:20:42,119 --> 00:20:45,000 Speaker 1: James when he was you know, eight years old, No 404 00:20:45,119 --> 00:20:47,199 Speaker 1: way he'll ever be a good basketball player. Look how 405 00:20:47,240 --> 00:20:48,920 Speaker 1: small he is. It's like, well, what did you see 406 00:20:48,920 --> 00:20:51,840 Speaker 1: his parents? And did you see like his pedigree? Like, um, 407 00:20:52,119 --> 00:20:53,439 Speaker 1: you know, he has a good chance of becoming That 408 00:20:53,560 --> 00:20:56,119 Speaker 1: doesn't mean he will, but he could. If we were 409 00:20:56,119 --> 00:20:58,879 Speaker 1: walking through the forest and I and we're like, hey, 410 00:20:58,880 --> 00:21:00,600 Speaker 1: look at this little tree. Can you one day it's 411 00:21:00,640 --> 00:21:02,600 Speaker 1: gonna be this giant oak tree And you're like, no way, Mark, 412 00:21:02,640 --> 00:21:04,919 Speaker 1: You're stupid. Look how small that tree is. There's no 413 00:21:04,960 --> 00:21:06,919 Speaker 1: way that will ever be a big tree. And it's like, well, 414 00:21:07,359 --> 00:21:09,280 Speaker 1: it's an oak tree. And so the reason why I 415 00:21:09,280 --> 00:21:13,200 Speaker 1: say that is because that's about how ridiculous people say 416 00:21:13,240 --> 00:21:16,000 Speaker 1: when they say something like that about bitcoin. Um, no 417 00:21:16,080 --> 00:21:18,359 Speaker 1: way bitcoin whatever be it's it's it's too volatile, it 418 00:21:18,440 --> 00:21:21,159 Speaker 1: can never be used as a medium exchange. Nobody accepts it. 419 00:21:20,720 --> 00:21:25,600 Speaker 1: It's not used enough. Okay, that that's all fair, just 420 00:21:25,680 --> 00:21:29,239 Speaker 1: like that small oak tree, but it doesn't mean that 421 00:21:29,320 --> 00:21:33,959 Speaker 1: it can't become that one day. And so everybody's expecting 422 00:21:34,000 --> 00:21:35,720 Speaker 1: way too much too soon. I mean, we go back 423 00:21:35,720 --> 00:21:39,960 Speaker 1: to the Internet days, for example, and the internet really 424 00:21:40,040 --> 00:21:46,480 Speaker 1: the first Www went live in Netscape, happened, and all 425 00:21:46,520 --> 00:21:48,239 Speaker 1: of a sudden, the big money came in with the 426 00:21:48,240 --> 00:21:51,200 Speaker 1: I P. O s. And so from two thousand you 427 00:21:51,280 --> 00:21:52,960 Speaker 1: had every dot com in the world, and you know, 428 00:21:52,960 --> 00:21:54,320 Speaker 1: you put dot com on a name, and you've got 429 00:21:54,359 --> 00:21:58,040 Speaker 1: a bunch of money from venture capitalists, and you had everything. 430 00:21:58,080 --> 00:21:59,880 Speaker 1: You had web van dot com and pets dot com 431 00:21:59,880 --> 00:22:01,359 Speaker 1: and all these things, but they all went out of 432 00:22:01,359 --> 00:22:03,840 Speaker 1: business because by the year two thousand, ten years later, 433 00:22:05,800 --> 00:22:08,840 Speaker 1: still nobody was buying stuff online. The Internet was too slow, 434 00:22:09,200 --> 00:22:12,280 Speaker 1: it didn't really work for that there was nobody using it. 435 00:22:12,359 --> 00:22:15,600 Speaker 1: Less than ten percent of people had ever bought anything 436 00:22:15,760 --> 00:22:20,640 Speaker 1: online by that time. So a decade went by and 437 00:22:20,680 --> 00:22:22,880 Speaker 1: the same thing was said, Oh, this internet is stupid, 438 00:22:22,920 --> 00:22:24,439 Speaker 1: no one's ever going to use to buy anything. As 439 00:22:24,440 --> 00:22:27,040 Speaker 1: a matter of fact, true story. In two thousand and one, 440 00:22:27,160 --> 00:22:30,159 Speaker 1: after the dot com crash, I thought would be a 441 00:22:30,200 --> 00:22:32,440 Speaker 1: good idea to start an e commerce business and sell 442 00:22:32,520 --> 00:22:34,880 Speaker 1: products online, which, of course today seems like a no brainer. 443 00:22:34,920 --> 00:22:37,600 Speaker 1: We buy everything online. But in the year two thousand, 444 00:22:37,840 --> 00:22:40,920 Speaker 1: that's not how it was. In the year two thousand one, 445 00:22:41,080 --> 00:22:43,200 Speaker 1: after the dot com crash, after all these dot coms 446 00:22:43,240 --> 00:22:47,080 Speaker 1: blew up, and it looked ridiculous. Um, I built an 447 00:22:47,080 --> 00:22:49,639 Speaker 1: e commerce store. It was not easy. There was no Shopify, 448 00:22:49,720 --> 00:22:51,760 Speaker 1: there was no WordPress. I had to hire a developer. 449 00:22:51,800 --> 00:22:54,000 Speaker 1: I think it was like grand to build this, this 450 00:22:54,119 --> 00:22:56,960 Speaker 1: e commerce store. And I went to these companies and said, hey, 451 00:22:57,000 --> 00:22:59,000 Speaker 1: I built this. I want to sell your products on 452 00:22:59,080 --> 00:23:02,160 Speaker 1: my website. And they laughed at me and they told 453 00:23:02,200 --> 00:23:06,280 Speaker 1: me no one would ever buy anything online. And I said, well, 454 00:23:06,320 --> 00:23:09,159 Speaker 1: I beg to differ. I think they will. And you know, 455 00:23:09,480 --> 00:23:11,479 Speaker 1: I built this website and I want to sell your products. 456 00:23:11,640 --> 00:23:13,240 Speaker 1: I said, I'm willing just to give you the money 457 00:23:13,680 --> 00:23:16,800 Speaker 1: and um and uh, you know, I'll give you the 458 00:23:16,800 --> 00:23:18,200 Speaker 1: money and if I don't sell it on me, And 459 00:23:18,200 --> 00:23:20,440 Speaker 1: they said, no, we don't even want our products being 460 00:23:20,480 --> 00:23:23,560 Speaker 1: sold online. And so again they couldn't see that evolution. 461 00:23:23,640 --> 00:23:26,600 Speaker 1: Sure they were that was true in the year two thousand. No, 462 00:23:27,200 --> 00:23:30,760 Speaker 1: a full decade after the Internet went public, nobody was 463 00:23:30,800 --> 00:23:34,719 Speaker 1: buying anything online, but it didn't mean that nobody ever would. 464 00:23:36,200 --> 00:23:37,280 Speaker 1: So you have to be able to kind of see 465 00:23:37,280 --> 00:23:39,760 Speaker 1: the future. Now, talking about seeing the future, look at Netflix. 466 00:23:40,160 --> 00:23:44,600 Speaker 1: So Netflix, net Flix and so like Flix, like movies 467 00:23:44,760 --> 00:23:47,639 Speaker 1: on the net on the internet, right, makes sense. Today 468 00:23:47,720 --> 00:23:50,800 Speaker 1: we stream movies on the internet on Netflix, right. But 469 00:23:51,000 --> 00:23:54,800 Speaker 1: when it first launched in there was no there was 470 00:23:54,840 --> 00:23:57,040 Speaker 1: no movies on the internet. There was no flicks on 471 00:23:57,080 --> 00:23:59,800 Speaker 1: the net. It didn't work like that. Uh, the Internet 472 00:24:00,040 --> 00:24:03,000 Speaker 1: is way too slow. You couldn't watch movies online. And 473 00:24:03,080 --> 00:24:06,320 Speaker 1: so Netflix started with a model where they would mail 474 00:24:06,920 --> 00:24:10,639 Speaker 1: using snail mail, mail you a DVD to your house. 475 00:24:10,680 --> 00:24:12,159 Speaker 1: And I think the way it used to work is 476 00:24:12,200 --> 00:24:15,159 Speaker 1: you would keep three at a time and so you 477 00:24:15,200 --> 00:24:17,240 Speaker 1: can choose any three movies that you wanted, they send 478 00:24:17,280 --> 00:24:18,800 Speaker 1: them to you. When you're done, you send them back 479 00:24:18,840 --> 00:24:20,280 Speaker 1: they and you always had your queue and they just 480 00:24:20,280 --> 00:24:23,800 Speaker 1: send you new movies. But they saw the future. They 481 00:24:23,840 --> 00:24:26,080 Speaker 1: knew that even though the Internet was way too slow 482 00:24:26,119 --> 00:24:28,200 Speaker 1: to be used for movies that day, they still named 483 00:24:28,240 --> 00:24:31,560 Speaker 1: the company Netflix. And of course today now we do that, 484 00:24:31,840 --> 00:24:34,359 Speaker 1: but most people at that time couldn't see that. And 485 00:24:34,440 --> 00:24:38,560 Speaker 1: so if you're the type of person that can see 486 00:24:38,600 --> 00:24:42,920 Speaker 1: that this evolution process could work. Then you have an edge, 487 00:24:43,160 --> 00:24:45,760 Speaker 1: right now, you have an edge because you have this imagination, 488 00:24:45,800 --> 00:24:47,679 Speaker 1: you have this ability to see that. The people that 489 00:24:47,880 --> 00:24:51,960 Speaker 1: saw that vision with Netflix and invested in have made 490 00:24:52,160 --> 00:24:55,040 Speaker 1: massive amounts of money because they were able to see 491 00:24:55,080 --> 00:24:58,640 Speaker 1: that vision while most people couldn't. And so today we're 492 00:24:58,640 --> 00:25:02,640 Speaker 1: witnessing another evolutionary process happening, and a lot of people 493 00:25:02,800 --> 00:25:06,639 Speaker 1: discounted no way it's ever gonna happen. Well it could. 494 00:25:07,280 --> 00:25:09,879 Speaker 1: It has all the attributes necessary, So let's talk about that. 495 00:25:09,920 --> 00:25:12,399 Speaker 1: So Bitcoin is scarce. There's never gonna be more than 496 00:25:12,440 --> 00:25:16,439 Speaker 1: twenty one million. So it's better than gold because even 497 00:25:16,480 --> 00:25:18,560 Speaker 1: though gold has a very low inflation rate, the amount 498 00:25:18,600 --> 00:25:20,480 Speaker 1: of new gold coming into the world today is very low. 499 00:25:21,080 --> 00:25:23,399 Speaker 1: It's still going up, so there's an infinite amount of 500 00:25:23,440 --> 00:25:25,640 Speaker 1: gold as far as we know. So there's So it's 501 00:25:25,680 --> 00:25:28,320 Speaker 1: more scarce than gold, definitely a way more scarce than 502 00:25:28,400 --> 00:25:33,040 Speaker 1: dollars um. It's durable. You can't destroy it, you can't 503 00:25:33,080 --> 00:25:35,120 Speaker 1: steal it, you can't hack it. So it's more durable 504 00:25:35,160 --> 00:25:39,760 Speaker 1: than gold, definitely more durable than dollars um. It's divisible, 505 00:25:39,920 --> 00:25:42,159 Speaker 1: so gold is divisible down to you know, a Graham 506 00:25:42,240 --> 00:25:45,640 Speaker 1: and dollars divisible down to a penny. Bitcoin is potentially 507 00:25:46,160 --> 00:25:50,560 Speaker 1: uh infinitely divisible. But where it really wins is it 508 00:25:50,680 --> 00:25:54,920 Speaker 1: is more portable. And so right now I could send 509 00:25:54,960 --> 00:25:57,960 Speaker 1: you bitcoin anywhere in the world within a split second, 510 00:25:58,480 --> 00:26:00,919 Speaker 1: but I couldn't send you gold in a split second. 511 00:26:01,119 --> 00:26:04,120 Speaker 1: And so it wins on all those But again you say, 512 00:26:04,160 --> 00:26:06,640 Speaker 1: but Mark, look how volatile it is, it could never 513 00:26:06,720 --> 00:26:09,439 Speaker 1: be money. Well, remember there's an evolution. So it starts 514 00:26:09,480 --> 00:26:14,119 Speaker 1: as a collectible. People started collecting bitcoin. Then it evolved 515 00:26:14,160 --> 00:26:16,280 Speaker 1: to a store of value. Now it's still not the 516 00:26:16,320 --> 00:26:18,760 Speaker 1: best store of value because it's still pretty volatile. However, 517 00:26:19,800 --> 00:26:23,480 Speaker 1: yes it's down from its high, but it's up from 518 00:26:23,520 --> 00:26:25,560 Speaker 1: it's low. So yes it's down, and I'm gonna talk 519 00:26:25,560 --> 00:26:27,800 Speaker 1: more about that in a minute, um, and then eventually 520 00:26:27,840 --> 00:26:30,160 Speaker 1: it could move into the medium exchange. Now, a couple 521 00:26:30,160 --> 00:26:32,160 Speaker 1: of things I want to talk about on this. So one, 522 00:26:33,200 --> 00:26:35,959 Speaker 1: but it just trades like a tech stock. It's just 523 00:26:36,119 --> 00:26:39,199 Speaker 1: it moves like the NASDACK. Okay, so I want to 524 00:26:39,200 --> 00:26:42,040 Speaker 1: talk about that specifically. We're talking about tech stocks, and 525 00:26:42,080 --> 00:26:44,120 Speaker 1: we'll talk about the NASDAC. I don't talk about the correlation. 526 00:26:44,160 --> 00:26:46,320 Speaker 1: I'm gonna talk about how the correlation has changed and 527 00:26:46,359 --> 00:26:49,760 Speaker 1: why that's actually a good thing, a feature, not a bud. 528 00:26:50,080 --> 00:26:52,560 Speaker 1: So we're talking about that, and then I want to 529 00:26:52,600 --> 00:26:55,760 Speaker 1: talk about commodities and treasuries and talk about this new 530 00:26:55,800 --> 00:26:58,719 Speaker 1: report that came out by Bloomberg Intelligence that you need 531 00:26:58,800 --> 00:27:01,119 Speaker 1: to know about. So I'm to cover all of that 532 00:27:01,200 --> 00:27:02,880 Speaker 1: and more. You're listening to the Markmas Show. If you're 533 00:27:02,880 --> 00:27:04,720 Speaker 1: just tuning in, we're talking about, of course, each and 534 00:27:04,760 --> 00:27:08,520 Speaker 1: every week, the decentralized revolution that's happening as the pendulum 535 00:27:08,600 --> 00:27:13,200 Speaker 1: of the world is swinging from centralization back to decentralization. 536 00:27:13,200 --> 00:27:15,879 Speaker 1: We were witnessing and happening all over the world. It is. 537 00:27:16,280 --> 00:27:18,840 Speaker 1: It's messy. It's messy, that's what that's that's part of 538 00:27:18,840 --> 00:27:20,320 Speaker 1: the reason that we see this happening. Of course, we 539 00:27:20,320 --> 00:27:24,399 Speaker 1: look at through the lens of politics, finance, and technology 540 00:27:24,400 --> 00:27:28,399 Speaker 1: each and every week, and I'm trying to open up 541 00:27:28,440 --> 00:27:30,640 Speaker 1: your mind, give you this new context so you can 542 00:27:30,680 --> 00:27:33,240 Speaker 1: see what is happening right here in front of you, 543 00:27:33,560 --> 00:27:36,000 Speaker 1: so you don't miss out like all of those people 544 00:27:36,040 --> 00:27:38,480 Speaker 1: that didn't want to buy Netflix in or told me 545 00:27:38,560 --> 00:27:40,520 Speaker 1: you want to buy anything online. All right, You're listening 546 00:27:40,560 --> 00:27:42,280 Speaker 1: to the Markmas Show. I got a lot more to 547 00:27:42,280 --> 00:27:44,040 Speaker 1: cover when I get back, so don't go away. I'll 548 00:27:44,080 --> 00:27:46,359 Speaker 1: be right back. All right, Welcome back. You're listening to 549 00:27:46,440 --> 00:27:49,040 Speaker 1: the Mark ma Show. We talk about the decentralized revolution. 550 00:27:49,080 --> 00:27:51,520 Speaker 1: Of course, we're talking about bitcoin, cryptocurrencies, the way the 551 00:27:51,560 --> 00:27:53,720 Speaker 1: world is changing, and we look at it through the 552 00:27:53,760 --> 00:27:56,880 Speaker 1: lens of politics, finance, and technology. We're talking about the 553 00:27:57,000 --> 00:28:01,240 Speaker 1: evolutionary process of money, how money changes, How we went 554 00:28:01,280 --> 00:28:05,640 Speaker 1: from feathers, cells, shells, e shells into gold, and then 555 00:28:05,640 --> 00:28:09,040 Speaker 1: we went into dollars and now this new evolution of bitcoin. 556 00:28:09,920 --> 00:28:12,040 Speaker 1: I'm not going to recap all that, but I'm going 557 00:28:12,119 --> 00:28:19,000 Speaker 1: to talk about. Um. The the pushback, the objections that 558 00:28:19,040 --> 00:28:22,600 Speaker 1: we hear to bitcoin are because people don't understand there's 559 00:28:22,600 --> 00:28:27,000 Speaker 1: an evolutionary process. Just because it's not that today doesn't 560 00:28:27,080 --> 00:28:29,280 Speaker 1: mean it won't ever be that way, right, you have 561 00:28:29,320 --> 00:28:32,720 Speaker 1: to understand it. So, um, bitcoins volatile. Let's talk about that. 562 00:28:32,760 --> 00:28:35,800 Speaker 1: Bitcoin just moves like a stock. It's to volatile, so yes, 563 00:28:36,240 --> 00:28:40,160 Speaker 1: it does. It moves like a risk on asset, like 564 00:28:40,200 --> 00:28:44,160 Speaker 1: a tech stock like the NASDAC. So risk on assets 565 00:28:44,240 --> 00:28:47,440 Speaker 1: moved differently than other type of assets or risk off assets. 566 00:28:47,440 --> 00:28:49,920 Speaker 1: So for example, in November of two one, when the 567 00:28:49,920 --> 00:28:51,600 Speaker 1: Federal Reserve came out and said that they were going 568 00:28:51,640 --> 00:28:55,560 Speaker 1: to go into raising rates and quantitative tightening, risk on 569 00:28:55,760 --> 00:29:00,640 Speaker 1: assets sold off, meaning the NASDAC and Bitcoin at the 570 00:29:00,680 --> 00:29:03,640 Speaker 1: same time made new highs and started selling it off 571 00:29:03,720 --> 00:29:05,680 Speaker 1: and they've been on a decline ever since. And the 572 00:29:05,800 --> 00:29:09,840 Speaker 1: SMP didn't start selling off until January, so we see 573 00:29:09,880 --> 00:29:13,640 Speaker 1: that happening. So Bitcoin has been trading like a tech stock, 574 00:29:13,760 --> 00:29:17,400 Speaker 1: but it's not a tech stock. It's like that, but 575 00:29:17,480 --> 00:29:21,520 Speaker 1: it's not um. But what happens is we have this correlation, 576 00:29:22,480 --> 00:29:25,040 Speaker 1: so that means that it's moving with it most of 577 00:29:25,120 --> 00:29:27,040 Speaker 1: the time, and that most of the time is the 578 00:29:27,120 --> 00:29:29,360 Speaker 1: key piece here. So what we can see is that 579 00:29:29,480 --> 00:29:34,360 Speaker 1: the correlation with the NASDAC has been nine percent, so 580 00:29:34,560 --> 00:29:38,280 Speaker 1: nine of the time Bitcoin has moved like a tech 581 00:29:38,320 --> 00:29:41,800 Speaker 1: stock like the NASTAC since January one, of two thousand seventeen. 582 00:29:43,040 --> 00:29:45,760 Speaker 1: But what about the ten percent of the time that 583 00:29:45,840 --> 00:29:48,920 Speaker 1: it's not correlated, And that's the key piece here. So 584 00:29:48,960 --> 00:29:54,360 Speaker 1: what we can see is that in uh we saw 585 00:29:54,440 --> 00:29:57,320 Speaker 1: the correlation drop and during that ten percent of the 586 00:29:57,360 --> 00:30:02,000 Speaker 1: time it wasn't correlated. Bitcoin moved up by eleven hundred percent. 587 00:30:02,160 --> 00:30:08,080 Speaker 1: One then we saw it again and it became uncorrelated 588 00:30:08,240 --> 00:30:11,080 Speaker 1: and it moved up by five hundred and eighty percent. 589 00:30:11,520 --> 00:30:15,160 Speaker 1: Then in seventeen we saw it become uncorrelated and move 590 00:30:15,240 --> 00:30:18,720 Speaker 1: up three hundred and thirty percent. So while it may 591 00:30:18,720 --> 00:30:21,080 Speaker 1: be correlated nine percent of the time, it's the ten 592 00:30:21,120 --> 00:30:23,560 Speaker 1: percent of the time that it's not that it's making 593 00:30:23,680 --> 00:30:28,160 Speaker 1: these massive moves. But what we're also seen is that 594 00:30:28,160 --> 00:30:31,680 Speaker 1: though the correlation is waning or it's getting less and 595 00:30:31,760 --> 00:30:34,160 Speaker 1: less and less, and so what we can see since 596 00:30:34,240 --> 00:30:39,880 Speaker 1: two thousand thirteen, it was correlated zero point nine at 597 00:30:39,880 --> 00:30:43,440 Speaker 1: the time, but since two thousand seventeen it dropped and 598 00:30:43,520 --> 00:30:46,840 Speaker 1: it's been down to nine percent at the time, not 599 00:30:46,840 --> 00:30:49,080 Speaker 1: not a huge drop, but it's a drop. But in 600 00:30:49,160 --> 00:30:53,680 Speaker 1: the last twelve months it's only been correlated eighty percent 601 00:30:53,760 --> 00:30:57,840 Speaker 1: of the time. So there's an evolutionary process. As bitcoin 602 00:30:57,920 --> 00:31:00,960 Speaker 1: gets bigger, as it gets more widely at opted, as 603 00:31:01,000 --> 00:31:05,640 Speaker 1: it gets more use, then the volatility and the correlation 604 00:31:05,840 --> 00:31:10,400 Speaker 1: go down. Volatility, we saw it have nine drawdowns, then 605 00:31:10,440 --> 00:31:13,800 Speaker 1: it had draw downs, then it had eighty five percent drawdowns, 606 00:31:13,800 --> 00:31:16,120 Speaker 1: and then eighty and then seventy five and now we're 607 00:31:16,120 --> 00:31:18,880 Speaker 1: at like about a seventy percent draw down. So now 608 00:31:18,880 --> 00:31:21,720 Speaker 1: we're starting to see the draw downs, meaning from the 609 00:31:21,840 --> 00:31:25,160 Speaker 1: highest point two back to the lowest point in that 610 00:31:25,240 --> 00:31:29,920 Speaker 1: in that cycle is getting less and less from eighty 611 00:31:30,440 --> 00:31:33,560 Speaker 1: and seventy percent draw downs. So the volatility is getting 612 00:31:33,640 --> 00:31:36,120 Speaker 1: less and the correlation is getting less at the same 613 00:31:36,160 --> 00:31:40,760 Speaker 1: time the evolution is happening. Now back to this article 614 00:31:40,800 --> 00:31:43,160 Speaker 1: I've been teasing up um. There's an article that just 615 00:31:43,240 --> 00:31:48,280 Speaker 1: came out this week from uh from Bloomberg Intelligence, so Bloomberg, 616 00:31:48,360 --> 00:31:52,840 Speaker 1: you know, pretty pretty widely respected name, and this article 617 00:31:52,920 --> 00:31:55,800 Speaker 1: came out and it says that bitcoin may behave more 618 00:31:55,880 --> 00:31:59,880 Speaker 1: like US treasury bonds per Bloomberger Intelligence. So you have 619 00:32:00,040 --> 00:32:03,160 Speaker 1: of treasury bonds are what's called a risk free asset. 620 00:32:03,440 --> 00:32:07,880 Speaker 1: This is where typically you'll see you know, big institutions, pensions, etcetera. 621 00:32:07,920 --> 00:32:11,000 Speaker 1: But really sovereign nations will park their wealth. If you've 622 00:32:11,040 --> 00:32:13,080 Speaker 1: got you know, a hundred billion dollars, you don't just 623 00:32:13,120 --> 00:32:15,719 Speaker 1: put it in Wells Fargo or JP Morgan Chase. You're 624 00:32:15,760 --> 00:32:19,120 Speaker 1: typically buying treasuries with that, and that's the biggest type 625 00:32:19,160 --> 00:32:22,440 Speaker 1: of collateral risk free assets and they're saying that bitcoin 626 00:32:22,480 --> 00:32:26,320 Speaker 1: may behave more like treasury bonds, and it says bitcoin 627 00:32:26,360 --> 00:32:29,600 Speaker 1: markets will behave more like that of of treasury bonds 628 00:32:29,640 --> 00:32:34,520 Speaker 1: and gold during a market recovery. So for the latest 629 00:32:34,560 --> 00:32:38,240 Speaker 1: crypto market research from Bluebrig Intelligence UM, bitcoin is starting 630 00:32:38,240 --> 00:32:41,920 Speaker 1: to behave more like United States treasury bonds and gold 631 00:32:42,640 --> 00:32:46,640 Speaker 1: rather than stocks. So and this month and this Crypto 632 00:32:46,640 --> 00:32:49,560 Speaker 1: Outlook report UM. It was put together by Mike McLane 633 00:32:49,720 --> 00:32:54,440 Speaker 1: and another analyst, Jamie cowts Um. They compared bitcoin to 634 00:32:54,600 --> 00:32:57,000 Speaker 1: those of gold, bonds, and oil and they said that 635 00:32:57,040 --> 00:33:01,160 Speaker 1: the macro economic influences, so the big influencers of the economy, 636 00:33:01,160 --> 00:33:04,400 Speaker 1: of the job supports, commodities cycles, things like that, such 637 00:33:04,400 --> 00:33:08,040 Speaker 1: as the Federal reserves. Monetary policies. Yeah, like the FED 638 00:33:08,240 --> 00:33:11,480 Speaker 1: increasing the money supply, decreasing the money supply have resulted 639 00:33:11,520 --> 00:33:16,760 Speaker 1: in similarities in treasury bond markets and bitcoin. So most 640 00:33:16,760 --> 00:33:19,120 Speaker 1: people think that bitcoin is way too risky, it's way 641 00:33:19,120 --> 00:33:22,560 Speaker 1: too volatile. No one would ever think of comparing it 642 00:33:22,600 --> 00:33:26,160 Speaker 1: to a treasury bond, which is considered a risk free asset. 643 00:33:26,560 --> 00:33:30,240 Speaker 1: But they're saying that's exactly what's happening. They say that 644 00:33:30,280 --> 00:33:34,840 Speaker 1: tightening markets and plunging global growth support the Federal Reserve 645 00:33:34,920 --> 00:33:38,880 Speaker 1: shift to a quote meeting by meeting bias in July, 646 00:33:39,480 --> 00:33:43,320 Speaker 1: which may help pivot bitcoin toward a directional tilt more 647 00:33:43,400 --> 00:33:47,320 Speaker 1: like US treasury bonds than stocks. So bitcoin is moving 648 00:33:47,480 --> 00:33:51,680 Speaker 1: away from being like a stock, and it's moving, it's evolving. 649 00:33:51,720 --> 00:33:56,280 Speaker 1: It's changing to becoming more like a treasure bond. Now, look, 650 00:33:56,440 --> 00:33:58,560 Speaker 1: they didn't say it, and I am not saying it. 651 00:33:58,560 --> 00:34:03,600 Speaker 1: It is not It is not like a treasury bond today, 652 00:34:03,640 --> 00:34:07,640 Speaker 1: but they're saying that it's starting to become more like that, 653 00:34:08,280 --> 00:34:12,400 Speaker 1: So it's evolving. They added that a quote dump following 654 00:34:12,520 --> 00:34:17,560 Speaker 1: pump nature of commodities and receding bond yields suggests an 655 00:34:17,600 --> 00:34:21,840 Speaker 1: increase in the probability of bonds and gold and bitcoin 656 00:34:21,960 --> 00:34:25,600 Speaker 1: being buoyed as inflation decreases. So what does that mean, 657 00:34:26,080 --> 00:34:29,279 Speaker 1: So commodities kind of have this pumping up. They're saying 658 00:34:29,280 --> 00:34:32,399 Speaker 1: a dump following pump nature of commodity. So commodities are 659 00:34:32,480 --> 00:34:36,799 Speaker 1: real things, tangible things, oil, wheat, gold, et cetera. And 660 00:34:36,840 --> 00:34:40,200 Speaker 1: so we've seen money has flown out of stocks and 661 00:34:40,280 --> 00:34:44,000 Speaker 1: equities into commodities into real things when they print unlimited 662 00:34:44,000 --> 00:34:46,320 Speaker 1: amounts of fake fiat currency. People are gonna want to 663 00:34:46,360 --> 00:34:50,160 Speaker 1: go buy real hard things, and so it moved into commodities. 664 00:34:50,200 --> 00:34:53,240 Speaker 1: But the commodities have a little bit of this dump 665 00:34:53,320 --> 00:34:55,680 Speaker 1: following pump, so they crashed down and then they pump 666 00:34:55,719 --> 00:34:59,719 Speaker 1: back up. But also we're seeing bond yields. Bond yields 667 00:34:59,719 --> 00:35:03,560 Speaker 1: have been geting smashed. Bond yields um suggest an increase 668 00:35:03,600 --> 00:35:06,320 Speaker 1: in the probability of bonds and golden bitcoin being buoyed 669 00:35:06,760 --> 00:35:10,000 Speaker 1: as inflation decreases. So bitcoin, you typically think of bitcoin 670 00:35:10,080 --> 00:35:12,960 Speaker 1: and risk on assets like the NASDAC going up in 671 00:35:13,000 --> 00:35:16,000 Speaker 1: a high inflation environment, But what they're saying is that 672 00:35:16,480 --> 00:35:20,239 Speaker 1: they think that there's an increase of probability. They're not saying, 673 00:35:21,239 --> 00:35:24,280 Speaker 1: but they're an increase in percentage the chance the probability 674 00:35:24,320 --> 00:35:28,840 Speaker 1: that bonds, golden bitcoin could go up together as inflation 675 00:35:28,920 --> 00:35:33,359 Speaker 1: actually decreases. So that's what they're saying. Bitcoin has worked 676 00:35:33,400 --> 00:35:36,360 Speaker 1: really well in an inflationary environment, but they're now saying 677 00:35:36,360 --> 00:35:39,719 Speaker 1: that bitcoin could work also with gold and bonds in 678 00:35:39,800 --> 00:35:43,640 Speaker 1: a deflationary environment, is what they're saying. The analysts said 679 00:35:43,640 --> 00:35:46,920 Speaker 1: that the fact that bitcoin was seventy below its peak 680 00:35:47,239 --> 00:35:49,719 Speaker 1: at the start of August, so as of a few 681 00:35:49,800 --> 00:35:54,200 Speaker 1: days ago, but it's still five times higher than it's 682 00:35:54,280 --> 00:35:59,160 Speaker 1: March quotes shows its potential. So well, everybody wants to 683 00:35:59,160 --> 00:36:02,320 Speaker 1: tell you it's seventy percent off of its peak. How's 684 00:36:02,360 --> 00:36:05,839 Speaker 1: bitcoin doing? It didn't hold its value. It's it's down 685 00:36:05,920 --> 00:36:09,080 Speaker 1: so much. Yes, they said that, the fact that it's 686 00:36:09,160 --> 00:36:15,560 Speaker 1: seventy below its peak, but it's five hundred percent, five 687 00:36:15,800 --> 00:36:20,560 Speaker 1: times higher than it was two years ago. So you 688 00:36:20,640 --> 00:36:22,279 Speaker 1: gotta look at both. If you're gonna look at both, 689 00:36:22,280 --> 00:36:24,000 Speaker 1: you gotta look at the glass. Right is half empty? 690 00:36:24,040 --> 00:36:26,440 Speaker 1: Has it half full? Well, it is down, but it's 691 00:36:26,480 --> 00:36:29,520 Speaker 1: also up five. They say the same thing that I've 692 00:36:29,520 --> 00:36:32,759 Speaker 1: been saying for a long time. Twenty dollars is a 693 00:36:32,840 --> 00:36:37,320 Speaker 1: key zone of support. They believe it's the same similar 694 00:36:37,440 --> 00:36:42,520 Speaker 1: base as five thousand was back in two thousand two nine. 695 00:36:43,840 --> 00:36:45,480 Speaker 1: They said that bitcoin has been one of the best 696 00:36:45,520 --> 00:36:48,920 Speaker 1: performing assets since its inception a decade ago, and we 697 00:36:49,040 --> 00:36:52,560 Speaker 1: think more of the same is ahead, particularly as it 698 00:36:52,600 --> 00:36:56,960 Speaker 1: may be transitioning towards global collateral, which with results more 699 00:36:57,000 --> 00:37:01,160 Speaker 1: aligned with treasury bonds or gold. So more of the 700 00:37:01,160 --> 00:37:04,680 Speaker 1: same as they had more outperformance um as it transitions 701 00:37:04,800 --> 00:37:08,000 Speaker 1: as the evolutionary process happens. It benefits those that can 702 00:37:08,080 --> 00:37:10,439 Speaker 1: see the future and are willing to take a bet 703 00:37:10,440 --> 00:37:12,719 Speaker 1: on that. If you're listening to the Markmas Show, we're 704 00:37:12,719 --> 00:37:15,400 Speaker 1: talking about the decentralized revolution. That's what I got for today. 705 00:37:15,440 --> 00:37:16,400 Speaker 1: Thanks so much for listening.