1 00:00:00,280 --> 00:00:03,440 Speaker 1: Hey, everyone, welcome to another episode of The Mark Moss Show. 2 00:00:03,440 --> 00:00:07,480 Speaker 1: Where we're talking about bitcoin. We're talking about cryptocurrencies. We 3 00:00:07,520 --> 00:00:12,399 Speaker 1: are talking about the decentralized revolution that is happening right now. 4 00:00:12,440 --> 00:00:16,480 Speaker 1: We're witnessing it. Now a real or quick or recap 5 00:00:16,560 --> 00:00:18,840 Speaker 1: of where we're at. We're almost wrapping up the year 6 00:00:18,880 --> 00:00:21,960 Speaker 1: two thousand one, and we'll get into some more stuff 7 00:00:22,000 --> 00:00:23,400 Speaker 1: to kind of wrap up the end of the year. 8 00:00:23,440 --> 00:00:26,520 Speaker 1: I'm not gonna give you the full wrap up right now, 9 00:00:26,560 --> 00:00:29,000 Speaker 1: but you know, just to kind of figure out where 10 00:00:29,040 --> 00:00:32,400 Speaker 1: we're at. I was looking back at the price, and um, 11 00:00:32,880 --> 00:00:36,440 Speaker 1: we're pumping today. As a matter of fact, dang, we're 12 00:00:36,520 --> 00:00:38,720 Speaker 1: up over a thousand dollars just since I've been talking 13 00:00:38,720 --> 00:00:43,240 Speaker 1: to you guys. That's not too bad and I'll take that. Um, yeah, 14 00:00:43,320 --> 00:00:45,280 Speaker 1: not too bad at all. Actually, But if we look 15 00:00:45,320 --> 00:00:48,600 Speaker 1: back through the let's let's call it the way back machine, 16 00:00:48,640 --> 00:00:51,760 Speaker 1: and if I look back to about a year ago 17 00:00:52,159 --> 00:00:54,880 Speaker 1: with the price of I'm sorry, two years ago, the 18 00:00:54,880 --> 00:00:59,080 Speaker 1: price of bitcoin was about thousand dollars. If we go 19 00:00:59,160 --> 00:01:03,160 Speaker 1: back to one year ago, yeah, where we are about 20 00:01:03,200 --> 00:01:07,880 Speaker 1: twenty three thousand dollars one year ago, So twenty three thousand. 21 00:01:08,480 --> 00:01:11,240 Speaker 1: You know, now we're here, let's see. So that's about 22 00:01:11,600 --> 00:01:14,800 Speaker 1: If you go to we're a hundred percent a year, 23 00:01:14,959 --> 00:01:16,880 Speaker 1: it's not bad. I'll take that. If we go back 24 00:01:16,880 --> 00:01:20,000 Speaker 1: to two years ago, you know, we're at about seven 25 00:01:20,040 --> 00:01:22,600 Speaker 1: thousand dollars, so looking pretty good. And yeah, the price 26 00:01:22,800 --> 00:01:26,120 Speaker 1: is pumping as we speak. Maybe maybe, just maybe we're 27 00:01:26,120 --> 00:01:28,360 Speaker 1: gonna get into one of these, uh, these end of 28 00:01:28,440 --> 00:01:31,560 Speaker 1: year rallies. We've seen bitcoin move thousands and thousands of 29 00:01:31,600 --> 00:01:33,880 Speaker 1: dollars in a single month. That's one of the reasons 30 00:01:33,920 --> 00:01:36,320 Speaker 1: why you don't really want to trade bitcoin. I know, 31 00:01:36,480 --> 00:01:38,920 Speaker 1: when you look at the technical analysis, you look at 32 00:01:38,920 --> 00:01:41,560 Speaker 1: like a chart, and it's very vaultile. It is, it 33 00:01:41,720 --> 00:01:43,160 Speaker 1: goes up and down all the time. And when you 34 00:01:43,200 --> 00:01:45,600 Speaker 1: look at it. Of course, the in life, hindsight is 35 00:01:45,880 --> 00:01:49,120 Speaker 1: is hindsight is clear. I mean, you look at you like, dang, 36 00:01:49,200 --> 00:01:50,520 Speaker 1: if I could have just sold it here and then 37 00:01:50,520 --> 00:01:51,800 Speaker 1: I could have bought it back here, and then I 38 00:01:51,800 --> 00:01:53,280 Speaker 1: could have sold it here, and I gotta bought it here, 39 00:01:53,320 --> 00:01:55,680 Speaker 1: and it looks so easy. And of course you hear 40 00:01:55,680 --> 00:01:57,480 Speaker 1: all these stories of people doing all this and whatever. 41 00:01:57,960 --> 00:02:01,440 Speaker 1: The reality is is that it's very difficult now there's 42 00:02:01,480 --> 00:02:04,040 Speaker 1: been numerous studies done in the stock market. I don't 43 00:02:04,040 --> 00:02:05,600 Speaker 1: have them pulled up in front of me, but numerous 44 00:02:05,600 --> 00:02:07,720 Speaker 1: studies in the stock market that shows like over the 45 00:02:07,800 --> 00:02:12,280 Speaker 1: last like not knockouting this year, that was crazy, but 46 00:02:12,360 --> 00:02:15,000 Speaker 1: but before this year, if you look back over like 47 00:02:15,040 --> 00:02:17,240 Speaker 1: the last like thirty or forty years, you know they've 48 00:02:17,240 --> 00:02:20,359 Speaker 1: had an average turn of whatever eight eight percent um. 49 00:02:20,440 --> 00:02:23,320 Speaker 1: But if you would have missed like the best twenty 50 00:02:23,480 --> 00:02:26,280 Speaker 1: days of stock market performance in those like thirty years, 51 00:02:26,680 --> 00:02:28,799 Speaker 1: your turn drops from like eight percent to like four percent. 52 00:02:29,160 --> 00:02:31,280 Speaker 1: And if you miss like the top the best twenty 53 00:02:31,400 --> 00:02:34,680 Speaker 1: days out of that thirty year thing, then your returns 54 00:02:34,680 --> 00:02:36,639 Speaker 1: were flat. And if you missed like the best thirty days, 55 00:02:36,639 --> 00:02:38,959 Speaker 1: then you actually lost money. And that's like so sitting 56 00:02:39,000 --> 00:02:42,160 Speaker 1: out of sitting out of the market for only twenty 57 00:02:42,240 --> 00:02:46,200 Speaker 1: days could have effectively wiped out all of your gains. 58 00:02:46,800 --> 00:02:48,799 Speaker 1: And that's in the normal stock market, which isn't near 59 00:02:48,840 --> 00:02:53,080 Speaker 1: as volatile as bitcoin is. But bitcoin moves super super fast. 60 00:02:53,200 --> 00:02:55,880 Speaker 1: And so for example, I can look back over here, 61 00:02:56,680 --> 00:02:59,320 Speaker 1: if I'm looking at the chart here back to where 62 00:02:59,400 --> 00:03:04,280 Speaker 1: was this sept number September um. I mean, in one day, 63 00:03:04,760 --> 00:03:08,240 Speaker 1: the price of bitcoin shot up, sent it dropped, it 64 00:03:08,320 --> 00:03:13,160 Speaker 1: jumped two's out two thousand dollars in almost a single day. 65 00:03:13,960 --> 00:03:17,239 Speaker 1: And here we are. You know, we've rallied, uh we 66 00:03:17,400 --> 00:03:19,519 Speaker 1: rout rally like three thousand dollars since I've been talking 67 00:03:19,520 --> 00:03:21,720 Speaker 1: to you guys. And so if you were out and 68 00:03:21,760 --> 00:03:23,320 Speaker 1: you're trying to trade that and you missed that three 69 00:03:23,360 --> 00:03:27,160 Speaker 1: thousand dollar pump, um, I mean I would, I could 70 00:03:27,160 --> 00:03:29,840 Speaker 1: set back your your gains big time. And so UM, 71 00:03:29,880 --> 00:03:32,639 Speaker 1: in my opinion, there's better things to do with your time. 72 00:03:32,639 --> 00:03:34,680 Speaker 1: There's much more productive things to do with your time. 73 00:03:34,960 --> 00:03:36,400 Speaker 1: There's much more things that you can do to bring 74 00:03:36,560 --> 00:03:38,840 Speaker 1: value to the world than sit there looking at these 75 00:03:38,880 --> 00:03:42,600 Speaker 1: stupid charts all day long. Zoom out two years ago 76 00:03:42,720 --> 00:03:44,960 Speaker 1: seven thousand. Last year is about twenty tho and now 77 00:03:45,000 --> 00:03:47,720 Speaker 1: we're over fifty thousand at the time we speak. So UM. 78 00:03:47,760 --> 00:03:51,760 Speaker 1: That's that's some perspective that I would like to give you. Um. 79 00:03:51,840 --> 00:03:54,240 Speaker 1: And we'll talk more about about that as we get 80 00:03:54,360 --> 00:03:55,920 Speaker 1: later into the show, and to talk about some of 81 00:03:55,960 --> 00:04:00,480 Speaker 1: the top five bitcoin stories of we're gonna dig into that. 82 00:04:01,240 --> 00:04:03,000 Speaker 1: Before we do, I want to talk about something that's 83 00:04:03,000 --> 00:04:05,840 Speaker 1: been pretty cool. I like to say that the price 84 00:04:06,000 --> 00:04:08,640 Speaker 1: is the distraction. I say that the best the two 85 00:04:08,720 --> 00:04:10,040 Speaker 1: things you want to look at about the growth of 86 00:04:10,040 --> 00:04:12,040 Speaker 1: the network and the development that's happening on the network. 87 00:04:12,360 --> 00:04:14,000 Speaker 1: The growth of the network, you know, you can see 88 00:04:14,040 --> 00:04:16,320 Speaker 1: through UM stories that pop up all over the place. 89 00:04:16,360 --> 00:04:19,680 Speaker 1: So for example, this week I saw Visa partners with 90 00:04:19,760 --> 00:04:24,240 Speaker 1: sixty crypto platforms to let consumers spend digital currency at 91 00:04:24,320 --> 00:04:29,680 Speaker 1: eighty million merchants. Man, that's big. Visas head of Crypto, 92 00:04:29,680 --> 00:04:31,640 Speaker 1: has revealed that the payments giant has partnered with about 93 00:04:31,760 --> 00:04:35,120 Speaker 1: sixty leading crypto platforms to launch card programs to make 94 00:04:35,120 --> 00:04:37,599 Speaker 1: it easy for consumers to convert and spend digital currency 95 00:04:37,640 --> 00:04:41,760 Speaker 1: at eighty million merchant locations worldwide. Emphasize we've built a 96 00:04:41,839 --> 00:04:43,400 Speaker 1: lot of momentum in the space and will continue to 97 00:04:43,400 --> 00:04:48,960 Speaker 1: support the crypto ecosystem in several ways. That's big, right, 98 00:04:49,040 --> 00:04:52,080 Speaker 1: That is going to bring more users, and so remember 99 00:04:52,120 --> 00:04:54,080 Speaker 1: we're looking at the growth of the users and the 100 00:04:54,080 --> 00:04:56,680 Speaker 1: development the network. So that's big. I mean that's big. 101 00:04:56,720 --> 00:05:01,600 Speaker 1: That's UM eight million. Now, who knows how many customers 102 00:05:01,640 --> 00:05:04,200 Speaker 1: go through those eighty million merchants, but I would imagine 103 00:05:04,240 --> 00:05:07,320 Speaker 1: it's uh hundreds of millions, if not billions of people, 104 00:05:07,720 --> 00:05:10,760 Speaker 1: and so that is going to increase the amount of users. 105 00:05:10,800 --> 00:05:12,000 Speaker 1: And then I want to look at the development on 106 00:05:12,000 --> 00:05:14,480 Speaker 1: the network. And I talked about a couple of weeks ago, 107 00:05:14,520 --> 00:05:17,920 Speaker 1: we talked about how Jack Dorsey, the founder CEO of Twitter, 108 00:05:18,040 --> 00:05:20,800 Speaker 1: actually stepped down from Twitter, and he stepped down from 109 00:05:20,800 --> 00:05:24,279 Speaker 1: Twitter to focus on bitcoin. He didn't he wanted to. 110 00:05:24,440 --> 00:05:28,279 Speaker 1: He wanted to build out some bitcoin services. He renamed 111 00:05:28,520 --> 00:05:32,040 Speaker 1: um Square the payment company to block and then he 112 00:05:32,080 --> 00:05:38,200 Speaker 1: renamed them. He had another company called spiral Um. And 113 00:05:38,279 --> 00:05:42,359 Speaker 1: since then, Jack has been going on quite the rampage. 114 00:05:42,400 --> 00:05:44,320 Speaker 1: As a matter of fact, he is going head to 115 00:05:44,440 --> 00:05:47,279 Speaker 1: head with the tech bros as we might call them, 116 00:05:47,279 --> 00:05:51,719 Speaker 1: the venture capitalists out of Silicon Valley, et cetera. Which, um, 117 00:05:51,720 --> 00:05:54,960 Speaker 1: it's pretty interesting to see now. A lot of people 118 00:05:55,000 --> 00:05:58,159 Speaker 1: had criticized Jack Dorsey because at the as the CEO 119 00:05:58,200 --> 00:06:01,159 Speaker 1: of Twitter um, Twitter was not living up to its 120 00:06:01,320 --> 00:06:03,799 Speaker 1: um original intention, which was supposed to be a platform 121 00:06:03,839 --> 00:06:06,760 Speaker 1: for free speech. And Jack Dorsey is supposed to be 122 00:06:06,800 --> 00:06:08,400 Speaker 1: this advocate for free speech and yet here he is 123 00:06:08,400 --> 00:06:10,880 Speaker 1: the CEO and he's he's censoring. I mean, they kicked 124 00:06:10,880 --> 00:06:13,800 Speaker 1: off the active sitting president of the United States last 125 00:06:13,880 --> 00:06:17,640 Speaker 1: year a long way away from being the quote unquote, 126 00:06:18,000 --> 00:06:22,200 Speaker 1: you know, open free source of communication. But now that 127 00:06:22,240 --> 00:06:24,800 Speaker 1: he has left, he stepped down to work on bitcoin, 128 00:06:24,960 --> 00:06:29,080 Speaker 1: not crypto, just bitcoin. Um, we've seen some rapid changes 129 00:06:29,080 --> 00:06:30,680 Speaker 1: happening on Twitter. As a matter of fact, they've started 130 00:06:30,680 --> 00:06:33,479 Speaker 1: to censor people pretty pretty crazy. But he's also changed, 131 00:06:33,480 --> 00:06:35,440 Speaker 1: and so the message that he's been sitting out has 132 00:06:35,480 --> 00:06:39,159 Speaker 1: been pretty radical. The other day, um, Cardi B and 133 00:06:39,200 --> 00:06:41,080 Speaker 1: for any of my hip hop fans out there, Cardi 134 00:06:41,120 --> 00:06:44,479 Speaker 1: B tweeted out and said something, Um, she said, will 135 00:06:44,600 --> 00:06:49,360 Speaker 1: cryptocurrencies replaced the dollar? And Jack Dorsey replied and he 136 00:06:49,480 --> 00:06:56,360 Speaker 1: said bitcoin will not crypto bitcoin will, and so um, 137 00:06:56,400 --> 00:06:58,840 Speaker 1: after that exchange, we saw the price start pumping, and 138 00:06:58,960 --> 00:07:01,360 Speaker 1: I tweeted out, I think I said, uh, I said, 139 00:07:01,400 --> 00:07:03,640 Speaker 1: did uh? Did Jack Dorsey tweeting at the Cardi B 140 00:07:03,839 --> 00:07:06,160 Speaker 1: drive the market higher? Just kind of a tongue in cheek. 141 00:07:06,360 --> 00:07:07,640 Speaker 1: By the way, if you're not following me on Twitter, 142 00:07:07,640 --> 00:07:10,120 Speaker 1: you definitely should. I'm the number one Mark Moss at 143 00:07:10,520 --> 00:07:13,360 Speaker 1: one Mark Moss just follow me there. Shoot me. Let 144 00:07:13,400 --> 00:07:14,680 Speaker 1: me know you heard me on the radio. Asked me 145 00:07:14,720 --> 00:07:16,800 Speaker 1: a question. I'll make sure to answer it. For you. Um, 146 00:07:16,800 --> 00:07:18,440 Speaker 1: but anyway, it was kind of funny to see that happen. 147 00:07:18,520 --> 00:07:21,160 Speaker 1: And since then he went on a rampage and what 148 00:07:21,240 --> 00:07:24,800 Speaker 1: he's on a rampage over is what's called now what 149 00:07:24,920 --> 00:07:28,320 Speaker 1: these people are calling Web three point oh. Now, if 150 00:07:28,360 --> 00:07:29,680 Speaker 1: you've been listening to me for a while, you know, 151 00:07:29,720 --> 00:07:33,320 Speaker 1: I've been on the Internet for a long time, and uh, 152 00:07:33,400 --> 00:07:34,760 Speaker 1: you know, we had the web, and then we had 153 00:07:34,760 --> 00:07:36,560 Speaker 1: Web two point oh, and now we have Web three 154 00:07:36,560 --> 00:07:40,120 Speaker 1: point oh, and like really just like the web. But anyway, um, 155 00:07:40,120 --> 00:07:42,080 Speaker 1: there's this whole thing about Web three point oh and 156 00:07:42,080 --> 00:07:43,920 Speaker 1: it's this the new crypto thing, and it's Web three 157 00:07:43,960 --> 00:07:47,760 Speaker 1: point and it's bringing all this investment capital in, um, 158 00:07:47,840 --> 00:07:51,000 Speaker 1: you know. And so he went on this rampage on 159 00:07:51,040 --> 00:07:53,880 Speaker 1: that and he said, quote, you don't own Web three 160 00:07:53,880 --> 00:07:58,560 Speaker 1: point oh, says Jack Dorsey. He criticized its centralized nature. 161 00:07:59,320 --> 00:08:02,200 Speaker 1: He said, quote, you don't. You don't own Web three 162 00:08:02,360 --> 00:08:05,920 Speaker 1: The vcs and their LPs do. It will never escape 163 00:08:06,000 --> 00:08:10,440 Speaker 1: their incentives. It's ultimately a centralized entity with a different label. 164 00:08:11,040 --> 00:08:14,280 Speaker 1: Know what you're getting into? End quote um. And that 165 00:08:14,360 --> 00:08:16,640 Speaker 1: was pretty cool. And then of course all the venture 166 00:08:16,640 --> 00:08:19,640 Speaker 1: capitalists came out and started attacking him for that. Um 167 00:08:19,680 --> 00:08:23,560 Speaker 1: even um Balaji said, uh oh no, Um. Twitter was 168 00:08:23,560 --> 00:08:26,320 Speaker 1: started as a protocol, and he said, dude, you're talking 169 00:08:26,320 --> 00:08:27,640 Speaker 1: to the wrong guy. I'm the founder of Twitter. It 170 00:08:27,680 --> 00:08:31,560 Speaker 1: was started as a company, a centralized company. And so 171 00:08:31,640 --> 00:08:33,920 Speaker 1: the big thing here is that these venture capital funds 172 00:08:34,240 --> 00:08:38,200 Speaker 1: are starting these web three which are quote unquote these cryptocurrencies. 173 00:08:38,240 --> 00:08:42,600 Speaker 1: But to his point, it's ultimately a centralized entity with 174 00:08:42,679 --> 00:08:45,600 Speaker 1: a different label, meaning they control it. They control the 175 00:08:45,600 --> 00:08:48,000 Speaker 1: amount of tokens that were printed, and they control what 176 00:08:48,240 --> 00:08:53,000 Speaker 1: happens on that network moving forward. The different much different 177 00:08:53,000 --> 00:08:55,760 Speaker 1: than bitcoin. Bitcoin nobody controls and I know, I know 178 00:08:55,840 --> 00:08:59,000 Speaker 1: they use all these buzzwords and it's decentralized, don't you know. 179 00:08:59,080 --> 00:09:03,240 Speaker 1: Market's decentral is decentralized governance right. Well, the very fact 180 00:09:03,280 --> 00:09:05,880 Speaker 1: that it has governance tells you that it's not decentralized. 181 00:09:05,920 --> 00:09:07,880 Speaker 1: So somebody can control it. Who can control it? The 182 00:09:07,880 --> 00:09:10,400 Speaker 1: person with the most tokens. Um, I'm gonna tell you 183 00:09:10,440 --> 00:09:11,880 Speaker 1: more about what Jack said, and then I want to 184 00:09:11,880 --> 00:09:15,040 Speaker 1: come back with the top five bullish stories of two 185 00:09:15,080 --> 00:09:18,840 Speaker 1: thousan You listen to the Markma Show, We're talking about bitcoin, 186 00:09:18,880 --> 00:09:23,240 Speaker 1: cryptocurrencies and the decentralized revolution. We'll be right back. Hey everyone, 187 00:09:23,280 --> 00:09:25,800 Speaker 1: welcome back. You are listening to the Markma Show and 188 00:09:25,800 --> 00:09:30,319 Speaker 1: we're talking about bitcoin and cryptocurrencies and the decentralized revolution 189 00:09:30,360 --> 00:09:33,360 Speaker 1: that's happening. I got one of my good friends, Justine 190 00:09:33,360 --> 00:09:36,080 Speaker 1: that just joined me in the studio, Justine Harper. She 191 00:09:36,160 --> 00:09:39,320 Speaker 1: works with Unchained Capital. We were just talking about some 192 00:09:39,360 --> 00:09:41,920 Speaker 1: problems I had with my multi sig security earlier and 193 00:09:42,200 --> 00:09:44,440 Speaker 1: she they managed to help me out. So that's pretty cool. 194 00:09:45,080 --> 00:09:47,880 Speaker 1: But Justine, thanks so much for joining me, Thanks for 195 00:09:47,920 --> 00:09:50,960 Speaker 1: having me, and Merry Christmas. Yeah, man, we are there. 196 00:09:51,000 --> 00:09:53,880 Speaker 1: I can't believe it, man, two thousand one, just I 197 00:09:53,920 --> 00:09:57,679 Speaker 1: went by so fast that it's uh happened yeah, like 198 00:09:57,920 --> 00:10:01,079 Speaker 1: um something, you know, the pandemic happened in March of 199 00:10:01,200 --> 00:10:03,800 Speaker 1: last year, so it's been like almost two years, and um, 200 00:10:03,840 --> 00:10:06,000 Speaker 1: I think it. I don't know, almost like slowed things 201 00:10:06,040 --> 00:10:08,640 Speaker 1: down last year and now like things happened so fast. 202 00:10:08,679 --> 00:10:10,360 Speaker 1: It's like, wow, I can't believe we like two years 203 00:10:10,360 --> 00:10:12,920 Speaker 1: into it, you know. I agree. I think I saw 204 00:10:12,960 --> 00:10:14,600 Speaker 1: a meme the other day and it was like I'm 205 00:10:14,600 --> 00:10:18,200 Speaker 1: still trying to process and wait, we're twenty two now, 206 00:10:18,240 --> 00:10:21,199 Speaker 1: Like what's what happened, um, and I definitely can relate 207 00:10:21,240 --> 00:10:25,319 Speaker 1: to that, like what has occurred? Um. Yeah, time flies, man, 208 00:10:26,000 --> 00:10:27,960 Speaker 1: but yes, glad to be here. Thanks for having me. 209 00:10:28,080 --> 00:10:31,960 Speaker 1: Crazy year in bitcoin, Yeah, it's crazy year in bitcoin, 210 00:10:32,040 --> 00:10:33,800 Speaker 1: and so I thought it'd be fun just to kind 211 00:10:33,800 --> 00:10:35,640 Speaker 1: of look back and talk about some of the big 212 00:10:35,679 --> 00:10:39,400 Speaker 1: stories that happened throughout the year. UM. I still am 213 00:10:39,440 --> 00:10:42,880 Speaker 1: working on my kind of big moments for myself and 214 00:10:42,920 --> 00:10:44,920 Speaker 1: what I'm expecting for next year. So probably next week 215 00:10:44,960 --> 00:10:46,240 Speaker 1: we'll talk about that. But I was just kind of 216 00:10:46,280 --> 00:10:48,480 Speaker 1: looking through some of the big stories and some of 217 00:10:48,520 --> 00:10:50,120 Speaker 1: the big ones that kind of caught my eye I 218 00:10:50,160 --> 00:10:53,199 Speaker 1: thought we'd just talked about. So I think the big 219 00:10:53,240 --> 00:10:56,679 Speaker 1: one was probably price action, and that's typically one of 220 00:10:56,760 --> 00:10:59,680 Speaker 1: my least favorite ones to talk about. UM I called 221 00:10:59,840 --> 00:11:01,840 Speaker 1: I called the bitcoin price like the bait and switch. 222 00:11:02,280 --> 00:11:03,720 Speaker 1: You get baited in to try to make a bunch 223 00:11:03,720 --> 00:11:05,320 Speaker 1: of money and then you get switched into the all 224 00:11:05,360 --> 00:11:08,199 Speaker 1: the other all the other properties of bitcoin. But if 225 00:11:08,200 --> 00:11:10,280 Speaker 1: we look at the price action of bitcoin, UM, I 226 00:11:10,360 --> 00:11:12,480 Speaker 1: mean it did pretty good for the year. We're up 227 00:11:12,480 --> 00:11:14,839 Speaker 1: and I was almost sevent it's actually on a run 228 00:11:14,960 --> 00:11:18,600 Speaker 1: right now today. UM, pretty crazy. But I think if 229 00:11:18,600 --> 00:11:21,000 Speaker 1: we look back, if we zoom out and we look 230 00:11:21,040 --> 00:11:25,079 Speaker 1: at the lowest price point every year, and so um, 231 00:11:25,160 --> 00:11:28,640 Speaker 1: we went to was four bucks, sixty five bucks, two 232 00:11:28,679 --> 00:11:31,959 Speaker 1: hundred bucks was the only year it was down from 233 00:11:31,960 --> 00:11:38,080 Speaker 1: two thirty eight hundred, and then the lowest point last 234 00:11:38,120 --> 00:11:41,560 Speaker 1: year was three This year was twenty seven thousand. So 235 00:11:41,600 --> 00:11:44,959 Speaker 1: we're almost double that. I mean, that's pretty damn good growth. 236 00:11:44,960 --> 00:11:48,200 Speaker 1: I would say, yes, And this is why I laughed 237 00:11:48,480 --> 00:11:50,480 Speaker 1: very hard any time we talk, like when we have 238 00:11:50,640 --> 00:11:53,760 Speaker 1: any sort of a bearish day, right or a drop 239 00:11:53,760 --> 00:11:58,520 Speaker 1: in the market, Oh, Bitcoin's dead, Bitcoin's over, And it's like, yeah, okay, 240 00:11:58,600 --> 00:12:01,320 Speaker 1: so we're literally to the point where forty six thousand 241 00:12:01,640 --> 00:12:03,800 Speaker 1: is dead. Bitcoin's dead. And then when you when you 242 00:12:03,880 --> 00:12:05,680 Speaker 1: zoom out and look at where we were we're a 243 00:12:05,760 --> 00:12:09,080 Speaker 1: year ago, it's it's worse. Yeah. I mean, I'm I'm 244 00:12:09,120 --> 00:12:12,120 Speaker 1: with you. Um, prices irrelevant to me at this point, 245 00:12:12,120 --> 00:12:15,120 Speaker 1: but I understand that it's not irrelevant to everyone, and 246 00:12:15,160 --> 00:12:18,040 Speaker 1: it's a big factor into bringing people in, right, and 247 00:12:18,080 --> 00:12:21,600 Speaker 1: it's important to sort of factor in bitcoin success from that. 248 00:12:21,960 --> 00:12:25,280 Speaker 1: But I personally I don't care about the price. Do 249 00:12:25,320 --> 00:12:27,760 Speaker 1: I have more SATs today? Than I do yesterday. But 250 00:12:27,840 --> 00:12:31,000 Speaker 1: also it is kind of comical to look at where 251 00:12:31,000 --> 00:12:33,600 Speaker 1: we've been, what the what the loads are for each year, 252 00:12:33,720 --> 00:12:36,320 Speaker 1: and then just where we are now. It's it's, uh, 253 00:12:36,400 --> 00:12:39,240 Speaker 1: it's shocking. I mean I remember it's over nine d 254 00:12:39,800 --> 00:12:43,280 Speaker 1: memes or nine thousand memes, right, um yeah, I mean like, 255 00:12:43,840 --> 00:12:46,480 Speaker 1: how are how are we sitting here? And how is uh, 256 00:12:46,559 --> 00:12:50,120 Speaker 1: how are people still doubting the the adoption of bitcoin 257 00:12:50,160 --> 00:12:52,360 Speaker 1: at this point? I think it is pretty impressive. Yeah, 258 00:12:52,440 --> 00:12:54,440 Speaker 1: And I love just the perspective. I mean when you 259 00:12:54,520 --> 00:12:56,800 Speaker 1: zoom out and you're just like, you know, everyone's like, 260 00:12:56,800 --> 00:12:59,199 Speaker 1: it's it's too volatile. It's too volatile. It's not a 261 00:12:59,200 --> 00:13:01,280 Speaker 1: good store voute because is too volatile, and never make 262 00:13:01,320 --> 00:13:03,440 Speaker 1: it as meaning exchange, which you know, it's not maybe 263 00:13:03,480 --> 00:13:05,080 Speaker 1: the best met to exchange today. It doesn't mean it 264 00:13:05,080 --> 00:13:07,040 Speaker 1: won't be in the future, but as a store of value, 265 00:13:07,040 --> 00:13:09,600 Speaker 1: it's like it's too volatile. It's like, well, it's been 266 00:13:09,760 --> 00:13:13,679 Speaker 1: up every single year, you know, like that's a pretty 267 00:13:13,760 --> 00:13:15,880 Speaker 1: damn good store of value in my opinion, you know, 268 00:13:16,559 --> 00:13:19,559 Speaker 1: um right, I think it's average it's up two eage 269 00:13:19,640 --> 00:13:21,680 Speaker 1: year or something. I could be wrong on that. On 270 00:13:21,760 --> 00:13:24,200 Speaker 1: that percentage, but it's like, yeah, when you zoom out, 271 00:13:24,240 --> 00:13:27,520 Speaker 1: it goes up. I've joked about my my future t 272 00:13:27,720 --> 00:13:30,320 Speaker 1: a podcast or YouTube channel where it's going to just 273 00:13:30,320 --> 00:13:31,640 Speaker 1: be like, you know, it goes up and then it 274 00:13:31,720 --> 00:13:33,720 Speaker 1: kind of like goes down for a little bit, and 275 00:13:33,720 --> 00:13:36,719 Speaker 1: then it's just like it's continuously going up in an 276 00:13:36,760 --> 00:13:41,800 Speaker 1: upward right position, you know direction, because yeah, yes it fluctuates, 277 00:13:41,840 --> 00:13:44,640 Speaker 1: but it's it's up your after year and anyone holding 278 00:13:44,679 --> 00:13:46,440 Speaker 1: their wealth and pitcoin is doing pretty good. I think 279 00:13:46,559 --> 00:13:49,040 Speaker 1: it's funny because I started buying bitcoin back when it 280 00:13:49,080 --> 00:13:52,160 Speaker 1: was about three hundred bucks, and I've been trying to 281 00:13:52,160 --> 00:13:54,120 Speaker 1: get friends of mine into it for a long time. 282 00:13:54,120 --> 00:13:55,880 Speaker 1: And I don't really go super wide with my friends, 283 00:13:55,880 --> 00:13:57,480 Speaker 1: but friends that are a little bit into kind of investing, 284 00:13:57,679 --> 00:13:59,080 Speaker 1: I try to get dragging the man. And I remember 285 00:13:59,280 --> 00:14:01,480 Speaker 1: one of my friends I finally convinced to buy it 286 00:14:01,520 --> 00:14:04,160 Speaker 1: about four thousand dollars and then it dropped down to 287 00:14:05,440 --> 00:14:07,840 Speaker 1: and he was so mad at me. He hated me, 288 00:14:07,920 --> 00:14:10,320 Speaker 1: like I I got him into the scam. He lost 289 00:14:10,400 --> 00:14:13,400 Speaker 1: half his money. Like, dude, you bought in at four thousand, 290 00:14:13,480 --> 00:14:15,200 Speaker 1: it's like fifty thousand a day, right, And I had 291 00:14:15,240 --> 00:14:17,680 Speaker 1: another friend, Um, I got him to buy in January 292 00:14:18,960 --> 00:14:21,080 Speaker 1: after bitcoin had blown off from twenty thousand, and he 293 00:14:21,160 --> 00:14:23,840 Speaker 1: end up buying about I think fourteen fifteen thousand, and 294 00:14:23,840 --> 00:14:26,320 Speaker 1: they continue to go down. Uh, and the same thing. 295 00:14:26,360 --> 00:14:28,800 Speaker 1: He's like, oh, you told me to buy, now all 296 00:14:28,840 --> 00:14:30,800 Speaker 1: of it down, and I'm just like, I mean, people 297 00:14:30,800 --> 00:14:32,960 Speaker 1: would be so happy to have bought it fifteen thousand 298 00:14:33,040 --> 00:14:35,200 Speaker 1: a day, you know. And um, no matter how much 299 00:14:35,200 --> 00:14:37,240 Speaker 1: they'd tell him like zoom out, have this long tip perspective, 300 00:14:37,240 --> 00:14:39,800 Speaker 1: they don't do it. Um. But yeah, looking backwards, say, 301 00:14:39,800 --> 00:14:42,160 Speaker 1: it's kind of funny. Oh, it's hard to do, I think, 302 00:14:42,160 --> 00:14:44,800 Speaker 1: but it also is uh. I think it's it's almost 303 00:14:44,920 --> 00:14:48,080 Speaker 1: a ride of passage, right, Like bitcoin makes sense for 304 00:14:48,120 --> 00:14:49,880 Speaker 1: a long term, and I think it's really hard for 305 00:14:49,880 --> 00:14:52,160 Speaker 1: people to sort of zoom out. And so my mom 306 00:14:52,280 --> 00:14:54,600 Speaker 1: the same way. I shouldn't say this, um, but you know, 307 00:14:54,680 --> 00:14:56,920 Speaker 1: she finally bought at a certain price and didn't buy 308 00:14:56,920 --> 00:14:59,280 Speaker 1: a lot, you know, but and then it immediately went 309 00:14:59,360 --> 00:15:06,040 Speaker 1: down and she was like, oh, okay, UM, So I 310 00:15:06,040 --> 00:15:08,600 Speaker 1: think it is it's hard to uh when you're stuck 311 00:15:08,640 --> 00:15:11,120 Speaker 1: in the moment see it. But but yeah, I mean 312 00:15:11,160 --> 00:15:13,960 Speaker 1: if you Look, you're after year, you're over year, You're 313 00:15:13,760 --> 00:15:17,120 Speaker 1: you're going to be fine. Yeah, we've all had well, 314 00:15:17,120 --> 00:15:18,880 Speaker 1: if you've been in long enough anyway, we've all had 315 00:15:18,880 --> 00:15:22,720 Speaker 1: those awkward Christmas and Thanksgivings where you have to sit 316 00:15:22,760 --> 00:15:24,880 Speaker 1: around the table with your family and they're all down 317 00:15:24,880 --> 00:15:28,680 Speaker 1: in their positions. Um, Luckily, my parents, man, they've got 318 00:15:28,720 --> 00:15:31,680 Speaker 1: strong hands. Man, my my, my parents have held strong 319 00:15:31,760 --> 00:15:34,920 Speaker 1: and they haven't they haven't wavered. And and so I 320 00:15:34,920 --> 00:15:37,840 Speaker 1: gotta give him that. I guess they got me so. Um. 321 00:15:37,880 --> 00:15:39,320 Speaker 1: By the way, you're listening to the Mark Ma Show, 322 00:15:39,360 --> 00:15:41,640 Speaker 1: I'm in the studio with Justine Harper. You can find 323 00:15:41,640 --> 00:15:44,560 Speaker 1: her on Twitter at Misshotel M S h O d L. 324 00:15:45,200 --> 00:15:47,480 Speaker 1: Give her a shout out and say hello. Um. We're 325 00:15:47,480 --> 00:15:49,720 Speaker 1: talking about some of the top stories in bitcoin for 326 00:15:49,840 --> 00:15:53,000 Speaker 1: two thousand twenty one. Another big one this year was 327 00:15:53,240 --> 00:15:56,360 Speaker 1: Tesla adding bitcoin to its balance sheet. I think that 328 00:15:56,440 --> 00:15:59,720 Speaker 1: was a big one. It um instantly, I remember, I 329 00:15:59,720 --> 00:16:03,480 Speaker 1: remember ever when happened, instantly shot bitcoin higher. Um, you 330 00:16:03,520 --> 00:16:07,440 Speaker 1: know it what. Ellen has a million followers on Twitter, 331 00:16:07,520 --> 00:16:10,040 Speaker 1: so it instantly shot that up. Um. A lot of 332 00:16:10,080 --> 00:16:12,240 Speaker 1: bitcoin people thought that was great. Things have kind of 333 00:16:12,240 --> 00:16:13,720 Speaker 1: fumbled a little bit since then, but I think it 334 00:16:13,760 --> 00:16:16,320 Speaker 1: really did help it to kind of notch a level higher. 335 00:16:16,360 --> 00:16:19,880 Speaker 1: I would say, I don't know what you think. Yeah, 336 00:16:20,080 --> 00:16:23,240 Speaker 1: I agree with that. I think that it says a lot. 337 00:16:23,640 --> 00:16:27,200 Speaker 1: People can talk about certain things on Twitter. UM. I 338 00:16:27,240 --> 00:16:29,360 Speaker 1: say this as like there's celebrities who are paid to 339 00:16:29,360 --> 00:16:32,920 Speaker 1: say things. I think Ellen really enjoys Twitter. He likes 340 00:16:32,920 --> 00:16:36,080 Speaker 1: to rile people up, but also just kind of enjoys it, 341 00:16:36,160 --> 00:16:39,360 Speaker 1: so he'll mention things on Twitter and UM. But it 342 00:16:39,400 --> 00:16:43,080 Speaker 1: says a lot when you actually are betting your your 343 00:16:43,080 --> 00:16:45,760 Speaker 1: cash reserves of your company on bitcoin, I think that 344 00:16:45,800 --> 00:16:49,000 Speaker 1: shows a level of commitment that's much different than shilling 345 00:16:49,040 --> 00:16:52,600 Speaker 1: something on Twitter. UM. In my opinion, it makes perfect sense. 346 00:16:52,720 --> 00:16:55,440 Speaker 1: I mean, the dollar is devaluing year after year, and 347 00:16:55,480 --> 00:16:57,520 Speaker 1: when you have cash reserves for a business, the last 348 00:16:57,520 --> 00:17:00,160 Speaker 1: thing you want is to see your your profits go 349 00:17:00,280 --> 00:17:02,440 Speaker 1: down while the expense of everything you need to do 350 00:17:02,520 --> 00:17:04,399 Speaker 1: goes up. So why wouldn't you hold it in an 351 00:17:04,400 --> 00:17:06,640 Speaker 1: asset that that holds its value better? So I think 352 00:17:06,640 --> 00:17:08,639 Speaker 1: it makes sense. But I do think it was quite 353 00:17:08,880 --> 00:17:13,240 Speaker 1: a move for you on um because he he kind 354 00:17:13,240 --> 00:17:15,159 Speaker 1: of you know, he likes to ruffle feathers but I 355 00:17:15,240 --> 00:17:18,159 Speaker 1: think actions are are stronger than words, and this was 356 00:17:18,200 --> 00:17:20,240 Speaker 1: a pretty big action in my opinion. Well and it 357 00:17:20,320 --> 00:17:22,520 Speaker 1: and it put it on the map. So it put 358 00:17:22,560 --> 00:17:24,400 Speaker 1: it on the map for all of those fifty million 359 00:17:24,400 --> 00:17:25,920 Speaker 1: people that follow on Twitter plus you know, it's a 360 00:17:25,920 --> 00:17:27,480 Speaker 1: bigger audience or whatever. So I think it put on 361 00:17:27,480 --> 00:17:29,159 Speaker 1: the map. And then to your point, the skin in 362 00:17:29,160 --> 00:17:31,359 Speaker 1: the game put his money where his mouth is. He 363 00:17:31,400 --> 00:17:33,080 Speaker 1: did go out to say that I have not sold 364 00:17:33,119 --> 00:17:35,479 Speaker 1: any of my bitcoin testlas old temper cent of its 365 00:17:35,480 --> 00:17:37,840 Speaker 1: holding is essentially to prove liquidity of bitcoin as an 366 00:17:37,840 --> 00:17:41,080 Speaker 1: alternative to holding cash on balance sheet. So um, to 367 00:17:41,119 --> 00:17:43,439 Speaker 1: your point, Justine, he's moved it into reserve, he's still 368 00:17:43,440 --> 00:17:47,360 Speaker 1: holding it, and he has continued to hold his holdings 369 00:17:47,400 --> 00:17:49,080 Speaker 1: as well. Are you listening to the Mark mo Show. 370 00:17:49,119 --> 00:17:52,359 Speaker 1: We're talking about bitcoin and the decentralized revolution in the 371 00:17:52,359 --> 00:17:55,600 Speaker 1: studio with Justine and we're talking about the top things 372 00:17:55,680 --> 00:17:58,880 Speaker 1: that happened in bitcoin in two thousand twenty one will 373 00:17:58,920 --> 00:18:01,720 Speaker 1: be Iraq, don't go way all right, welcome back. You 374 00:18:01,760 --> 00:18:04,280 Speaker 1: are listening to the markma Show and we're talking about bitcoin. 375 00:18:04,760 --> 00:18:08,080 Speaker 1: We're talking about the decentralized revolution that's happening, and I'm 376 00:18:08,080 --> 00:18:10,640 Speaker 1: in the studio with Justine Harper. You can find her 377 00:18:10,640 --> 00:18:13,639 Speaker 1: on Twitter at Misshotel M s h O d L. 378 00:18:13,960 --> 00:18:16,320 Speaker 1: And we're talking about the top five things, the top 379 00:18:16,359 --> 00:18:18,200 Speaker 1: couple of things that have happened in bitcoin, and two 380 00:18:18,680 --> 00:18:21,760 Speaker 1: one that went by like a whirlwind. And so we 381 00:18:21,760 --> 00:18:24,879 Speaker 1: talked about the price. Um the lowest price of the 382 00:18:24,920 --> 00:18:27,639 Speaker 1: year was twenty seven thousand, and we're up almost double 383 00:18:27,720 --> 00:18:30,840 Speaker 1: that at this point. We talked about Tesla adding bitcoin 384 00:18:31,080 --> 00:18:33,840 Speaker 1: both to its balance sheet as well as um elon 385 00:18:33,960 --> 00:18:37,040 Speaker 1: Musk holding it and said that they are not selling it. 386 00:18:37,080 --> 00:18:39,760 Speaker 1: I think, um the next story, which I think is 387 00:18:39,840 --> 00:18:41,760 Speaker 1: has got to be the biggest story of the year, 388 00:18:42,200 --> 00:18:45,239 Speaker 1: is that El Salvador, right, El Salvador declares bitcoin as 389 00:18:45,359 --> 00:18:48,480 Speaker 1: legal tender, which is pretty amazing. I mean, they had 390 00:18:48,520 --> 00:18:50,880 Speaker 1: to fight off the World Bank, they had to fight 391 00:18:50,920 --> 00:18:54,200 Speaker 1: off the International Monetary Fund. Uh, they've had to fight 392 00:18:54,240 --> 00:18:58,919 Speaker 1: off what maybe you know, US Federal Reserve CIA operatives 393 00:18:58,920 --> 00:19:02,160 Speaker 1: working down there to to destabilize that. I mean, they've 394 00:19:02,200 --> 00:19:05,479 Speaker 1: they've come under massive, massive fire. They've obviously had technical 395 00:19:05,480 --> 00:19:08,920 Speaker 1: difficulties to roll out something that big, but through all 396 00:19:08,960 --> 00:19:11,639 Speaker 1: of that, I mean, the president bu Gallea is like 397 00:19:11,720 --> 00:19:15,880 Speaker 1: held strong and uh and uh kind of turned into 398 00:19:15,920 --> 00:19:18,800 Speaker 1: one of the top Twitter trolls. On top of that, Yes, 399 00:19:19,160 --> 00:19:22,560 Speaker 1: he's uh. I would say that he's very good at Twitter. Um, 400 00:19:22,600 --> 00:19:24,840 Speaker 1: and it's amazing to see someone in his He might 401 00:19:24,840 --> 00:19:27,160 Speaker 1: be as good as you, Justine. I think he's much 402 00:19:27,200 --> 00:19:28,560 Speaker 1: better than me. I was going to put him up 403 00:19:28,560 --> 00:19:30,919 Speaker 1: there with Elon, but I think that I I appreciate 404 00:19:31,000 --> 00:19:33,359 Speaker 1: the principles from one a little bit more than the other. 405 00:19:33,440 --> 00:19:35,879 Speaker 1: But uh, but I do think, yeah, he has a 406 00:19:35,920 --> 00:19:38,000 Speaker 1: way of kind of like he stands behind what he 407 00:19:38,000 --> 00:19:40,919 Speaker 1: says and what he does. Um, no matter what you 408 00:19:40,960 --> 00:19:43,840 Speaker 1: think of him as an individual. UM, I think it's 409 00:19:43,920 --> 00:19:47,600 Speaker 1: huge And I think sometimes I think Alex Godson says 410 00:19:47,640 --> 00:19:49,080 Speaker 1: this best. You know, we kind of come from a 411 00:19:49,119 --> 00:19:51,840 Speaker 1: privileged world when when we live in the U S. 412 00:19:51,880 --> 00:19:54,800 Speaker 1: And we don't realize the issues that many individuals have 413 00:19:55,000 --> 00:19:58,520 Speaker 1: for accessing financial services. And I think Al Savager is 414 00:19:58,520 --> 00:20:00,960 Speaker 1: a huge example of that. Is is the bitcoin a 415 00:20:01,000 --> 00:20:04,040 Speaker 1: great medium exchange for us right now? Uh? No, you know, 416 00:20:04,080 --> 00:20:06,359 Speaker 1: the dollar works pretty good for that. We can save 417 00:20:06,400 --> 00:20:08,760 Speaker 1: in bitcoin and we can you know, like you know, 418 00:20:09,040 --> 00:20:12,320 Speaker 1: spend things when needed and so forth. But some people 419 00:20:12,320 --> 00:20:15,560 Speaker 1: don't have access to those services. You know, people in 420 00:20:15,560 --> 00:20:18,280 Speaker 1: el servera door. From my understanding, we're on a and 421 00:20:18,320 --> 00:20:20,679 Speaker 1: you were there, We're on a bus for hours, you know, 422 00:20:20,760 --> 00:20:24,040 Speaker 1: to go access financial services with cash on hand, where 423 00:20:24,040 --> 00:20:26,119 Speaker 1: they could be robbed, where you know, it's it's a 424 00:20:26,200 --> 00:20:29,600 Speaker 1: dangerous situation for them. Um. So I think bitcoin solves 425 00:20:29,640 --> 00:20:31,840 Speaker 1: that problem for so many people in a way that 426 00:20:32,240 --> 00:20:36,320 Speaker 1: also allows them to save in an asset that won't devalue. 427 00:20:36,400 --> 00:20:38,879 Speaker 1: So individuals who maybe have never had the ability to 428 00:20:38,920 --> 00:20:41,400 Speaker 1: say before now have that as well. So I think 429 00:20:41,400 --> 00:20:44,159 Speaker 1: this was huge. It hands down the biggest story of 430 00:20:44,160 --> 00:20:46,520 Speaker 1: the year, um, And I think it was. It was 431 00:20:46,600 --> 00:20:49,600 Speaker 1: definitely a moment that everybody was watching to wait. They 432 00:20:49,600 --> 00:20:51,359 Speaker 1: were waiting for them to fall on their face, and 433 00:20:51,400 --> 00:20:53,919 Speaker 1: now they haven't. So how will that look? You know what, 434 00:20:54,000 --> 00:20:56,119 Speaker 1: Other countries are now going to be looking into this 435 00:20:56,280 --> 00:20:58,960 Speaker 1: because at the end of the day, it fixes it 436 00:20:59,080 --> 00:21:01,399 Speaker 1: solves a problem for them, and I think it's huge. 437 00:21:01,920 --> 00:21:04,119 Speaker 1: Yeah to your point. You know, Um, in the United States, 438 00:21:04,119 --> 00:21:06,280 Speaker 1: where we're privileged, Um, the dollar works really well as 439 00:21:06,280 --> 00:21:08,000 Speaker 1: a mean of exchange. And I tell people, don't spend 440 00:21:08,000 --> 00:21:10,560 Speaker 1: your bitcoin, save your bitcoin, spend your fee at but 441 00:21:10,640 --> 00:21:14,520 Speaker 1: in El Salvador, Um, Yeah, I've been there, And they 442 00:21:14,520 --> 00:21:17,640 Speaker 1: don't have access to a digital banking world like we do. 443 00:21:17,840 --> 00:21:19,679 Speaker 1: So they can't walk around town and spend off their 444 00:21:19,760 --> 00:21:21,920 Speaker 1: Venemo or spend off their debit cards. They don't have that, 445 00:21:22,280 --> 00:21:24,399 Speaker 1: and so it's a cash society. And so um, the 446 00:21:24,480 --> 00:21:26,639 Speaker 1: stores and both you know, both both the merchants and 447 00:21:26,640 --> 00:21:29,040 Speaker 1: the retailers, they have to just basically pay with cash 448 00:21:29,320 --> 00:21:31,439 Speaker 1: and they can't you know, send him, receive money electronically 449 00:21:31,440 --> 00:21:34,119 Speaker 1: and whatnot. And so they don't have that privilege we have. 450 00:21:34,160 --> 00:21:36,880 Speaker 1: And now bitcoin has enabled them to join this global 451 00:21:36,960 --> 00:21:40,440 Speaker 1: financial network, um, which is which is pretty dang cool, um, 452 00:21:40,480 --> 00:21:42,160 Speaker 1: And so it's a big need for them. They've they've 453 00:21:42,160 --> 00:21:44,480 Speaker 1: on board, and millions of people, those millions of people 454 00:21:44,520 --> 00:21:46,600 Speaker 1: all got like thirty dollars worth a bitcoin, which is 455 00:21:46,640 --> 00:21:48,720 Speaker 1: since like doubled since they got it. So like that's 456 00:21:48,720 --> 00:21:51,959 Speaker 1: pretty cool as well. UM. And you know they've had 457 00:21:52,000 --> 00:21:54,879 Speaker 1: their troubles, right, I mean, there's a numerous complaints and 458 00:21:54,920 --> 00:21:57,000 Speaker 1: problems with the tech from the achiev A wallet and 459 00:21:57,040 --> 00:22:01,080 Speaker 1: I get that, um. I mean, UM, imagine rolling out 460 00:22:01,200 --> 00:22:03,800 Speaker 1: a new system that's never been done before. This this 461 00:22:04,280 --> 00:22:07,199 Speaker 1: this advanced, um and not having some problems like come on, 462 00:22:07,280 --> 00:22:11,040 Speaker 1: cut them some slack with right, I mean it's insane. Yeah, 463 00:22:11,080 --> 00:22:14,159 Speaker 1: I think that's that's to be expected for sure. Um. 464 00:22:14,200 --> 00:22:16,000 Speaker 1: I think that one of the stats that I saw 465 00:22:16,040 --> 00:22:18,240 Speaker 1: come out was that and I forget the exact number. 466 00:22:18,240 --> 00:22:20,560 Speaker 1: You may may know this more than me, but essentially 467 00:22:20,640 --> 00:22:23,080 Speaker 1: saying that more people in Al Savador now have a 468 00:22:23,119 --> 00:22:26,399 Speaker 1: bitcoin wallet than you know, a banking account. And I 469 00:22:26,400 --> 00:22:29,200 Speaker 1: think that really shows the need for that area and 470 00:22:29,240 --> 00:22:32,120 Speaker 1: what problem it's solving for them, because yeah, you can 471 00:22:32,680 --> 00:22:35,560 Speaker 1: as an individual, I can now go into Al Salvador 472 00:22:35,600 --> 00:22:38,840 Speaker 1: support my local common economy with just simply a cell phone. Right, 473 00:22:38,840 --> 00:22:42,040 Speaker 1: I can download an app I have, I have access 474 00:22:42,080 --> 00:22:45,760 Speaker 1: to digital financial services and don't have to use you know, 475 00:22:45,800 --> 00:22:47,480 Speaker 1: some sort of outside party where I have to travel 476 00:22:47,480 --> 00:22:49,960 Speaker 1: a long long distance and from a merchant standpoint, I 477 00:22:49,960 --> 00:22:52,120 Speaker 1: mean this is huge for them in my opinion. UM, 478 00:22:52,200 --> 00:22:54,600 Speaker 1: so yes, I think this is I don't think this 479 00:22:54,680 --> 00:22:57,520 Speaker 1: is the like, it's not the story that happened in 480 00:22:58,359 --> 00:22:59,959 Speaker 1: one and then it's done, like. I think this will 481 00:23:00,080 --> 00:23:03,239 Speaker 1: be like the ongoing story. This is a a thing 482 00:23:03,280 --> 00:23:05,400 Speaker 1: that will continue to develop and we will see more 483 00:23:05,440 --> 00:23:07,640 Speaker 1: and more people sort of using it as an example 484 00:23:07,720 --> 00:23:10,199 Speaker 1: to shape their own economy. Um. And that's that's what 485 00:23:10,240 --> 00:23:12,840 Speaker 1: bitcoin is, right, It's freedom. It solves problems, and I 486 00:23:12,880 --> 00:23:15,720 Speaker 1: think what problem it solves for each individual is different, 487 00:23:15,720 --> 00:23:18,040 Speaker 1: and I think this is a great example of that. Yeah, 488 00:23:18,040 --> 00:23:20,560 Speaker 1: I was just looking here. Seventy it says here for 489 00:23:20,720 --> 00:23:24,399 Speaker 1: the latest Bank of America report, whal Research reports seventy 490 00:23:24,720 --> 00:23:26,879 Speaker 1: of the adult population else ove order did not or 491 00:23:26,960 --> 00:23:30,359 Speaker 1: does not have a bank account seventy. So it's pretty 492 00:23:30,440 --> 00:23:32,679 Speaker 1: pretty massive. I would agree with you, Justine. I think 493 00:23:32,760 --> 00:23:35,359 Speaker 1: this is going to be, um, something that's you know, 494 00:23:35,359 --> 00:23:36,919 Speaker 1: when you look back through history, like I love to 495 00:23:36,920 --> 00:23:39,840 Speaker 1: look at history, there's these certain key things that happened 496 00:23:39,880 --> 00:23:41,800 Speaker 1: that really pivoted and changed things. And I think this 497 00:23:41,880 --> 00:23:43,560 Speaker 1: is going to be one of those things. Um. And 498 00:23:43,720 --> 00:23:47,520 Speaker 1: I think it's going to really signify, um, hopefully. I 499 00:23:47,560 --> 00:23:50,040 Speaker 1: think I hope that's going to signify kind of the 500 00:23:50,160 --> 00:23:52,800 Speaker 1: end of this giant nation state and back to more 501 00:23:52,840 --> 00:23:56,600 Speaker 1: of a competitive landscape because not only it seems like 502 00:23:56,800 --> 00:23:58,919 Speaker 1: and I don't know about the politics, I don't know 503 00:23:58,960 --> 00:24:01,479 Speaker 1: the president personally, and I know people have accused him 504 00:24:01,480 --> 00:24:04,160 Speaker 1: of being this you know, dictator whatever. I don't know, um, 505 00:24:04,160 --> 00:24:06,439 Speaker 1: but it seems like to me that once he got 506 00:24:06,520 --> 00:24:10,160 Speaker 1: bit by the bitcoin bug, he's now starting to attach 507 00:24:10,240 --> 00:24:12,320 Speaker 1: to a lot of the other properties, the freedom properties 508 00:24:12,320 --> 00:24:15,120 Speaker 1: and things like that, because now we've seen he said, uh, hey, 509 00:24:15,119 --> 00:24:19,280 Speaker 1: now El Salvador is an open country, no mandates, no testing. Uh, 510 00:24:19,359 --> 00:24:21,399 Speaker 1: we have vaccines if you want them, everybody can have 511 00:24:21,440 --> 00:24:22,960 Speaker 1: them for free. If you don't want them, don't have them, 512 00:24:22,960 --> 00:24:25,480 Speaker 1: no big deal. And uh, like it's really and oh 513 00:24:25,560 --> 00:24:27,200 Speaker 1: and by the way, we have this bitcoin sitting there 514 00:24:27,240 --> 00:24:29,920 Speaker 1: and you can come and no taxes, and like, um man, 515 00:24:29,920 --> 00:24:31,399 Speaker 1: you're really starting to see kind of be this like 516 00:24:31,440 --> 00:24:34,040 Speaker 1: a place of freedom, which is pretty cool. Yeah, I agree. 517 00:24:34,040 --> 00:24:35,879 Speaker 1: I was going to say that that it seems like he, uh, 518 00:24:36,119 --> 00:24:38,679 Speaker 1: he kind of changed his mind on some of the 519 00:24:38,760 --> 00:24:41,879 Speaker 1: more in my opinion, like government overreach mandates that he 520 00:24:41,960 --> 00:24:44,520 Speaker 1: had he had had previously, which is great. I think 521 00:24:44,560 --> 00:24:47,040 Speaker 1: a bitcoin, uh, it changes us. It makes us look 522 00:24:47,040 --> 00:24:49,520 Speaker 1: at things differently, and and it aligns the incentives in 523 00:24:49,560 --> 00:24:51,560 Speaker 1: a way that we can't ignore. So I think that 524 00:24:51,640 --> 00:24:54,960 Speaker 1: was a really beneficial fantasy as well. Now the one 525 00:24:55,080 --> 00:24:57,960 Speaker 1: thing is, so he's speaking at the bitcoin conference bitcoin 526 00:24:58,160 --> 00:25:02,160 Speaker 1: Uo is coming up in April, I believe of next year. 527 00:25:02,520 --> 00:25:04,679 Speaker 1: I'm speaking there. By the way, so if you're not 528 00:25:04,760 --> 00:25:07,560 Speaker 1: already getting your tickets to Bitcoin conference, you should. And 529 00:25:07,600 --> 00:25:09,320 Speaker 1: by the way, you can save ten percent on your 530 00:25:09,320 --> 00:25:12,480 Speaker 1: tickets by using mark at the checkout code. But also 531 00:25:12,520 --> 00:25:17,040 Speaker 1: the President Bukeley is also speaking there, and supposedly, according 532 00:25:17,080 --> 00:25:20,399 Speaker 1: to a bitcoin magazine, supposedly he's got something really big 533 00:25:20,440 --> 00:25:23,399 Speaker 1: to announce. We don't know what that is, obviously, I 534 00:25:23,400 --> 00:25:25,560 Speaker 1: don't have the spoil alert. I sent out a tweet 535 00:25:25,640 --> 00:25:28,000 Speaker 1: on on Twitter the other day, I said, Hey, what 536 00:25:28,080 --> 00:25:30,280 Speaker 1: I really want I said, there's he's gonna announce something. 537 00:25:30,320 --> 00:25:32,560 Speaker 1: What I really want him to announce is that there's 538 00:25:32,560 --> 00:25:36,239 Speaker 1: like a citizenship program for bitcoinners that we can get passports, um, 539 00:25:36,280 --> 00:25:37,959 Speaker 1: I said, retweeted if you wanted to get up there. 540 00:25:37,960 --> 00:25:41,600 Speaker 1: And I don't know God or whatever, but that would 541 00:25:41,600 --> 00:25:43,720 Speaker 1: be really cool if he comes and announces that where 542 00:25:43,760 --> 00:25:46,080 Speaker 1: you could invest you know, two bitcoin or or one 543 00:25:46,160 --> 00:25:47,879 Speaker 1: or two bitcoin or three whatever the amount is, but 544 00:25:47,960 --> 00:25:51,600 Speaker 1: to get citizenship right away. Uh. Any thoughts on that 545 00:25:53,000 --> 00:25:55,560 Speaker 1: that would be huge. I'm a big fan of Katie 546 00:25:55,600 --> 00:25:58,600 Speaker 1: who does climb passports, and this is something that you 547 00:25:58,640 --> 00:26:01,000 Speaker 1: know she helps bitcoin or is there really anybody it's 548 00:26:01,000 --> 00:26:03,639 Speaker 1: not just a bitcoin specific right, finding that second passport, 549 00:26:03,720 --> 00:26:07,160 Speaker 1: finding places that are more freedom minded. Um, I think 550 00:26:07,200 --> 00:26:10,080 Speaker 1: this is like exactly how it should be. I think 551 00:26:10,160 --> 00:26:13,679 Speaker 1: that the free market, if allowed to work properly, works 552 00:26:13,680 --> 00:26:16,119 Speaker 1: for everyone. And I think the free market idea with 553 00:26:16,200 --> 00:26:19,720 Speaker 1: citizenship and being able to essentially like, I'm gonna move 554 00:26:19,760 --> 00:26:21,760 Speaker 1: to where it incentivized it is to me most to 555 00:26:21,760 --> 00:26:25,280 Speaker 1: be a citizen and those countries are incentivized to offer 556 00:26:25,359 --> 00:26:27,680 Speaker 1: me really great things that I want to come via 557 00:26:27,720 --> 00:26:30,679 Speaker 1: citizen for it improves everything. Um. So I think this 558 00:26:30,760 --> 00:26:34,080 Speaker 1: is the natural next step, right Like bitcoinners have already 559 00:26:34,160 --> 00:26:38,320 Speaker 1: completely fully supported al Savador and the Bitcoin city um idea. 560 00:26:38,840 --> 00:26:42,240 Speaker 1: So having the ability to actually gain citizenship for many 561 00:26:42,240 --> 00:26:45,080 Speaker 1: people would be a game changer. So I'm with you. 562 00:26:45,240 --> 00:26:47,639 Speaker 1: I think that's probably If I had to bet, I 563 00:26:47,640 --> 00:26:50,600 Speaker 1: would guess that that's probably what it is. But UM 564 00:26:50,600 --> 00:26:52,640 Speaker 1: excited to see it. I don't have any spoilers either, 565 00:26:53,359 --> 00:26:57,280 Speaker 1: but but definitely definitely think that we'll keep our fingers crossed. 566 00:26:57,720 --> 00:26:59,720 Speaker 1: I heard, uh, I heard, I heard if you buy 567 00:26:59,760 --> 00:27:01,359 Speaker 1: this bitcoin bond, that's the other big thing is that 568 00:27:01,400 --> 00:27:03,120 Speaker 1: now there's this bitcoin bond, so they may be able 569 00:27:03,119 --> 00:27:05,080 Speaker 1: to raise money um without having to go through the 570 00:27:05,080 --> 00:27:07,000 Speaker 1: I m F, whichould be big um. And maybe if 571 00:27:07,000 --> 00:27:08,480 Speaker 1: you buy the bitcoin bond, there might be like a 572 00:27:08,520 --> 00:27:10,879 Speaker 1: residency which is like a five year path to citizenship. 573 00:27:10,880 --> 00:27:14,800 Speaker 1: But we'll wait and see on that. Unfortunately, as American citizens, uh, 574 00:27:15,040 --> 00:27:17,080 Speaker 1: we're not allowed to participate in that, you know, for 575 00:27:17,119 --> 00:27:19,159 Speaker 1: our own protection. By the way, you're listening to the 576 00:27:19,160 --> 00:27:22,119 Speaker 1: Markma Show. We're talking about bitcoin and the decentralized revolution. 577 00:27:22,119 --> 00:27:24,640 Speaker 1: We're talking about the biggest stories of two thousand twenty 578 00:27:24,640 --> 00:27:27,240 Speaker 1: one in the studio with Justine Harper at Miss Hotel 579 00:27:28,040 --> 00:27:29,960 Speaker 1: and uh, we discovered a couple of stories. We're gonna 580 00:27:30,000 --> 00:27:32,399 Speaker 1: be back with a couple more, so don't go away, 581 00:27:32,680 --> 00:27:34,680 Speaker 1: all right, welcome back. You're listening to the Markma Show 582 00:27:34,680 --> 00:27:36,720 Speaker 1: and we're talking about bitcoin and we're talking about this 583 00:27:36,760 --> 00:27:40,800 Speaker 1: decentralized revolution. We're talking about the biggest stories that happened 584 00:27:41,000 --> 00:27:43,600 Speaker 1: for bitcoin in two thousand twenty one. I'm in the 585 00:27:43,640 --> 00:27:45,879 Speaker 1: studio with one of my good friends, Justine Harper you 586 00:27:45,880 --> 00:27:48,280 Speaker 1: can find her on Twitter at Miss Hotel, and we 587 00:27:48,320 --> 00:27:50,280 Speaker 1: recapped a couple of big things so far. We talked 588 00:27:50,320 --> 00:27:53,439 Speaker 1: about the price, which to me is the least important 589 00:27:53,440 --> 00:27:55,600 Speaker 1: thing to talk about. But UM low point low points 590 00:27:55,600 --> 00:27:57,800 Speaker 1: this year is twenty seven thousand, and we're almost double that, 591 00:27:58,200 --> 00:28:00,800 Speaker 1: which is pretty cool. We talked about Tesla adding it 592 00:28:00,800 --> 00:28:02,840 Speaker 1: to its bounce sheet and you know, Elon Musk maybe 593 00:28:02,840 --> 00:28:06,040 Speaker 1: bringing it to the forefront of of all his followers minds, 594 00:28:06,080 --> 00:28:09,119 Speaker 1: which is pretty cool. UM. He did say that Tesla 595 00:28:09,160 --> 00:28:11,000 Speaker 1: hasn't sold a name of his holding. Well, they sold tempercent, 596 00:28:11,080 --> 00:28:12,800 Speaker 1: he hasn't sold any of them. And then we just 597 00:28:12,800 --> 00:28:14,639 Speaker 1: talked about El Salvador, which I think is really the 598 00:28:14,680 --> 00:28:16,000 Speaker 1: biggest story of the year. And if I would have, 599 00:28:16,600 --> 00:28:18,359 Speaker 1: I should have reorganized this because I should have been 600 00:28:18,640 --> 00:28:20,640 Speaker 1: the biggest story. It definitely was in my mind, it's 601 00:28:20,640 --> 00:28:24,600 Speaker 1: the most important story. UM. Another big story, though, that 602 00:28:24,640 --> 00:28:27,040 Speaker 1: I think is equally as big. I'm as happy about 603 00:28:27,080 --> 00:28:31,439 Speaker 1: it personally. UM, is that I think, uh that the 604 00:28:31,480 --> 00:28:35,000 Speaker 1: bitcoin et s were approved and UM, since like two 605 00:28:35,040 --> 00:28:37,080 Speaker 1: thousand and seventeen, they've been trying to get bitcoin u 606 00:28:37,200 --> 00:28:42,040 Speaker 1: e t s through and they've just been denied, denied, denied, denied, denied. UM. 607 00:28:42,080 --> 00:28:44,360 Speaker 1: There's pros and cons to this, I think. UM. The 608 00:28:44,480 --> 00:28:46,960 Speaker 1: one thing that I would say that the pro though, 609 00:28:47,560 --> 00:28:50,600 Speaker 1: is that whenever you have a new technology, um there's 610 00:28:50,640 --> 00:28:54,720 Speaker 1: like this bell curve um. It's the innovator, innovator's diffusion, 611 00:28:54,720 --> 00:28:57,800 Speaker 1: diffusion of innovation, and it's how a new technology gets 612 00:28:57,800 --> 00:29:00,240 Speaker 1: out into adoption. And so you start out with the inventors, 613 00:29:00,240 --> 00:29:02,720 Speaker 1: and then you get the visionaries, and that it gets 614 00:29:02,720 --> 00:29:05,360 Speaker 1: to about fifteen percent adoption, and then there's something called 615 00:29:05,400 --> 00:29:08,040 Speaker 1: the chasm before you get to the early majority and 616 00:29:08,080 --> 00:29:11,640 Speaker 1: then eventually the late majority. And the chasm represents a 617 00:29:11,800 --> 00:29:16,120 Speaker 1: gap in the public's mind where they don't understand what 618 00:29:16,160 --> 00:29:18,920 Speaker 1: the technology is or that it's real. It's still a scam, 619 00:29:18,920 --> 00:29:21,200 Speaker 1: it's still a joke, it's still what it ridiculous, whatever 620 00:29:21,200 --> 00:29:22,920 Speaker 1: it may be. It's a chasm. There's something in their 621 00:29:22,960 --> 00:29:26,960 Speaker 1: mind that's blocking them. But to get over the chasm, 622 00:29:27,120 --> 00:29:31,280 Speaker 1: the early majority's mind has to get past that where 623 00:29:31,280 --> 00:29:33,840 Speaker 1: they see it as something real, legit, and the use 624 00:29:33,880 --> 00:29:36,920 Speaker 1: case has even changed. And I think El Salvador definitely 625 00:29:36,960 --> 00:29:38,360 Speaker 1: helped that. I think lots of things. I think this 626 00:29:38,440 --> 00:29:40,440 Speaker 1: is the year that we crossed the chasm for any 627 00:29:40,520 --> 00:29:42,520 Speaker 1: number of reasons, but I think that bit when E 628 00:29:42,560 --> 00:29:45,480 Speaker 1: t F also really helps that it helps legitimize it, It 629 00:29:45,400 --> 00:29:47,360 Speaker 1: It helps people be able to get access to it 630 00:29:47,480 --> 00:29:51,080 Speaker 1: very easy, and and maybe just in their mind, a 631 00:29:51,120 --> 00:29:53,120 Speaker 1: lot of people that were skeptical on the sidelines might 632 00:29:53,160 --> 00:29:54,760 Speaker 1: look at it as like, well, dang, I guess it 633 00:29:54,880 --> 00:29:57,320 Speaker 1: might be a real asset. I don't know if you 634 00:29:57,360 --> 00:30:00,040 Speaker 1: think I'm on some on something there, Justine, I I 635 00:30:00,400 --> 00:30:03,280 Speaker 1: think we agree on this pretty pretty on point. Um, 636 00:30:03,400 --> 00:30:06,560 Speaker 1: I I'm with you. Like this. To me, it's like, Okay, 637 00:30:06,600 --> 00:30:09,240 Speaker 1: that's cool. I'm not personally excited about it, but I 638 00:30:09,280 --> 00:30:13,960 Speaker 1: do agree that I think that there is a there's 639 00:30:13,960 --> 00:30:16,320 Speaker 1: an aspect of adoption that's going to take time, and 640 00:30:16,360 --> 00:30:19,440 Speaker 1: Bitcoin by some folks is seen as a specific thing. 641 00:30:19,520 --> 00:30:22,200 Speaker 1: They don't understand it. It seems like some sort of 642 00:30:22,240 --> 00:30:25,880 Speaker 1: strained tech technology that people they don't like must use it. 643 00:30:25,920 --> 00:30:28,640 Speaker 1: You know, it's must be used for illegal activity because 644 00:30:28,640 --> 00:30:32,560 Speaker 1: you know, the dollar isn't right, um, sark hasn't there. Um. 645 00:30:32,640 --> 00:30:34,600 Speaker 1: But yeah, I think that this will be a huge 646 00:30:35,200 --> 00:30:39,280 Speaker 1: turning point for many people. It legitimizes it, as you say, 647 00:30:39,360 --> 00:30:41,760 Speaker 1: I mean, I have family members who are sort of 648 00:30:41,760 --> 00:30:43,600 Speaker 1: stuck in this hole. I've been talking to him about 649 00:30:43,640 --> 00:30:46,080 Speaker 1: it forever. I thought I had it for a minute 650 00:30:46,080 --> 00:30:47,840 Speaker 1: where they kind of saw it, and then they've gone 651 00:30:47,880 --> 00:30:50,080 Speaker 1: back to, oh, well, you know, I'm not sure the 652 00:30:50,080 --> 00:30:53,280 Speaker 1: technology is weird. You know, it's it's like this underground 653 00:30:53,560 --> 00:30:56,840 Speaker 1: dark web thing, and so you can't you can't think 654 00:30:56,880 --> 00:31:00,240 Speaker 1: of bitcoin that way anymore once we get to sort 655 00:31:00,280 --> 00:31:03,120 Speaker 1: of et F stage. In my opinion, um so, I 656 00:31:03,120 --> 00:31:05,360 Speaker 1: think that from that standpoint, it does help and it 657 00:31:05,400 --> 00:31:08,480 Speaker 1: will allow more people to you know, have access to 658 00:31:08,520 --> 00:31:12,720 Speaker 1: bitcoin and have the benefit from it in one one way, 659 00:31:12,760 --> 00:31:15,160 Speaker 1: shape or form. I personally hope that that's just the 660 00:31:15,160 --> 00:31:17,560 Speaker 1: beginning of their journey because I think that everybody should 661 00:31:17,560 --> 00:31:19,400 Speaker 1: be holding the keys to their wealth, because that's the 662 00:31:19,400 --> 00:31:22,080 Speaker 1: goal here, right, like to really be sovereign in your wealth. 663 00:31:22,240 --> 00:31:24,720 Speaker 1: But I think it's okay to start somewhere that maybe 664 00:31:24,760 --> 00:31:26,800 Speaker 1: doesn't look like that, and this may be the first 665 00:31:26,960 --> 00:31:29,320 Speaker 1: stepping stone for many, which I think is is good. 666 00:31:29,320 --> 00:31:34,040 Speaker 1: So I agree, big thing happening. Me personally, not personally 667 00:31:34,080 --> 00:31:36,600 Speaker 1: excited about it for me, um, but I do I 668 00:31:36,640 --> 00:31:38,160 Speaker 1: do see the value. It's one of those things like 669 00:31:38,200 --> 00:31:42,760 Speaker 1: it's good for bitcoin. Even if myself doesn't personally benefit 670 00:31:42,800 --> 00:31:44,719 Speaker 1: from anything, it can be good for bitcoin. It can 671 00:31:44,760 --> 00:31:47,040 Speaker 1: also be bad for bitcoin. So I think there's actually, 672 00:31:47,080 --> 00:31:49,520 Speaker 1: in my opinion, there's actually probably more. I think there's 673 00:31:49,520 --> 00:31:52,520 Speaker 1: maybe actually more bad for bitcoin than good. So the 674 00:31:52,560 --> 00:31:54,400 Speaker 1: good is obviously, as I said, like getting over that 675 00:31:54,440 --> 00:31:56,680 Speaker 1: mental chasm, and I think so I think just changing 676 00:31:56,720 --> 00:31:59,600 Speaker 1: the public perception, I think is good. Um In in 677 00:31:59,760 --> 00:32:02,720 Speaker 1: other countries, in Canada and countries in Europe, Um, they've 678 00:32:02,720 --> 00:32:05,239 Speaker 1: already had e t s for bitcoin. The thing with 679 00:32:05,240 --> 00:32:07,160 Speaker 1: bitcoin with e t s, and there's two types of 680 00:32:07,200 --> 00:32:08,520 Speaker 1: e t f s, and so one of them is 681 00:32:08,640 --> 00:32:12,080 Speaker 1: physically settled, so that means that I'm betting that price 682 00:32:12,080 --> 00:32:13,959 Speaker 1: of bitcoin goes up and down, and depending on if 683 00:32:14,000 --> 00:32:15,560 Speaker 1: I'm wrong or right, I either have to give them 684 00:32:15,600 --> 00:32:18,040 Speaker 1: bitcoin or they give me bitcoin that's physically settled. The 685 00:32:18,080 --> 00:32:21,240 Speaker 1: other one is cash settled, which means that I don't 686 00:32:21,240 --> 00:32:23,520 Speaker 1: actually buy the asset or sell the asset. I'm only 687 00:32:23,600 --> 00:32:25,760 Speaker 1: just making a bet, like it's like betting on a 688 00:32:25,800 --> 00:32:27,240 Speaker 1: base on a baseball or football game, and I just 689 00:32:27,280 --> 00:32:30,440 Speaker 1: have to pay you the cash. And what in the US, 690 00:32:30,640 --> 00:32:34,920 Speaker 1: they've denied every single future or physical settled e t 691 00:32:35,080 --> 00:32:36,680 Speaker 1: F and so the only thing we have now is 692 00:32:36,720 --> 00:32:39,320 Speaker 1: a cash settled in the problem that we have is 693 00:32:39,360 --> 00:32:42,600 Speaker 1: that you know, you can have these here these economics. 694 00:32:42,600 --> 00:32:44,280 Speaker 1: Before you came on, Justine, we were talking about Steve 695 00:32:44,320 --> 00:32:48,280 Speaker 1: Hanky and his theory which is just insane. But in 696 00:32:48,280 --> 00:32:51,240 Speaker 1: the real world that all all prices set off supply 697 00:32:51,320 --> 00:32:54,520 Speaker 1: and demand, and so if there's more demand for bitcoin, 698 00:32:54,560 --> 00:32:56,800 Speaker 1: then there is supply, the price goes up. It's pretty simple. 699 00:32:57,080 --> 00:32:59,440 Speaker 1: But the problem is that, um, maybe let's say that 700 00:32:59,440 --> 00:33:01,800 Speaker 1: you're a hedge fund institution that had a billion dollars 701 00:33:01,880 --> 00:33:03,440 Speaker 1: or a few billion dollars that you want to put 702 00:33:03,440 --> 00:33:05,920 Speaker 1: into bitcoin, and you can put that into bitcoin, or 703 00:33:05,960 --> 00:33:07,560 Speaker 1: you can put that a few billion dollars into a 704 00:33:07,840 --> 00:33:10,400 Speaker 1: just betting on the price of bitcoin. And so what 705 00:33:10,440 --> 00:33:14,400 Speaker 1: it does is it it takes artificial supply. So it's 706 00:33:14,400 --> 00:33:16,400 Speaker 1: almost like increasing the supply. So instead of buying the 707 00:33:16,400 --> 00:33:18,640 Speaker 1: bitcoin and taking that that's that bitcoint of the market 708 00:33:18,680 --> 00:33:21,040 Speaker 1: and increasing the demand, you just bet on it with 709 00:33:21,080 --> 00:33:23,040 Speaker 1: the same amount of money. And so I think I 710 00:33:23,080 --> 00:33:26,120 Speaker 1: think that in itself is a net drag. It changes 711 00:33:26,240 --> 00:33:29,719 Speaker 1: this uh, this this demand curve. UM. So I think 712 00:33:29,760 --> 00:33:31,880 Speaker 1: that's the problem. And uh, I hope that at some 713 00:33:31,880 --> 00:33:34,000 Speaker 1: point they'll have a physical settled one. UM they keep 714 00:33:34,000 --> 00:33:36,200 Speaker 1: denying them. UM, So I think it could be bad 715 00:33:36,240 --> 00:33:38,720 Speaker 1: from that perspective. UM. But yeah, I don't know any 716 00:33:38,720 --> 00:33:41,520 Speaker 1: thoughts on that. No, I I agree with you there, 717 00:33:41,640 --> 00:33:43,840 Speaker 1: that's kind of UM, I guess what I was alluding to. 718 00:33:43,920 --> 00:33:46,600 Speaker 1: And I don't personally think it's good from my perspective 719 00:33:46,600 --> 00:33:48,640 Speaker 1: for me, if that makes sense, I don't like the 720 00:33:48,720 --> 00:33:53,520 Speaker 1: idea of UM essentially, like you mentioned, betting on assets 721 00:33:53,560 --> 00:33:56,720 Speaker 1: that aren't there or can't be a guaranteed or there. 722 00:33:56,880 --> 00:33:59,479 Speaker 1: I think it's it's hard dynamic because bitcoin is kind 723 00:33:59,480 --> 00:34:02,400 Speaker 1: of the first asset that we have that is fully auditable, right, 724 00:34:02,480 --> 00:34:05,880 Speaker 1: Like I think of like gold notes, um, And this 725 00:34:05,920 --> 00:34:07,680 Speaker 1: is what in my you know, as as a previous 726 00:34:07,680 --> 00:34:10,040 Speaker 1: gold holder, I wanted physical gold. I don't want to 727 00:34:10,040 --> 00:34:12,040 Speaker 1: note that says that maybe you have some somewhere, and 728 00:34:12,040 --> 00:34:14,319 Speaker 1: I don't want to bet on on gold. I want 729 00:34:14,320 --> 00:34:16,439 Speaker 1: it if it's an asset that I hold my wealth, 730 00:34:16,440 --> 00:34:18,000 Speaker 1: and then I want to physically have it. But not 731 00:34:18,040 --> 00:34:20,879 Speaker 1: everybody is sort of in that mentality. UM. I think 732 00:34:20,920 --> 00:34:23,320 Speaker 1: it's interesting with bitcoin though, because we can't audit bitcoin 733 00:34:23,480 --> 00:34:26,040 Speaker 1: very easily. How does that work? How does that work 734 00:34:26,040 --> 00:34:28,640 Speaker 1: in this future's betting world? Like how does it look 735 00:34:28,640 --> 00:34:31,360 Speaker 1: different or does it fall into those same traps and 736 00:34:31,360 --> 00:34:33,759 Speaker 1: and downfalls of it in the past, in the in 737 00:34:33,800 --> 00:34:36,319 Speaker 1: the legacy world. So I'm not sure I want to 738 00:34:36,800 --> 00:34:40,520 Speaker 1: have a huge opinion on it. I do have some concerns, 739 00:34:41,040 --> 00:34:43,000 Speaker 1: but then also at the same time sort of see 740 00:34:43,040 --> 00:34:45,279 Speaker 1: the benefit of it getting to that point from an 741 00:34:45,320 --> 00:34:48,520 Speaker 1: adoption standpoint. But I don't know, I don't know what 742 00:34:48,520 --> 00:34:49,880 Speaker 1: it looks like. I guess it's a good way to 743 00:34:49,880 --> 00:34:52,600 Speaker 1: put it in a world where you can't audit the asset, 744 00:34:52,840 --> 00:34:55,239 Speaker 1: but you're just betting on on what it may or 745 00:34:55,280 --> 00:34:56,879 Speaker 1: may not do or so forth, or what it will 746 00:34:56,920 --> 00:34:59,799 Speaker 1: look like in the future. Um so, yes, I'm I'm 747 00:34:59,800 --> 00:35:02,680 Speaker 1: a little I'm a little sworn on this one specifically. 748 00:35:03,280 --> 00:35:06,040 Speaker 1: Um yeah, yeah, so I think we we aligned pretty well, 749 00:35:06,080 --> 00:35:09,240 Speaker 1: good and bad, good and bad, you know. And and futures. 750 00:35:09,280 --> 00:35:12,200 Speaker 1: Futures were really designed for for farmers. And I didn't 751 00:35:12,239 --> 00:35:13,600 Speaker 1: know what my crop was going to be like in 752 00:35:13,640 --> 00:35:15,319 Speaker 1: the future. I didn't know how much oil is gonna 753 00:35:15,320 --> 00:35:16,560 Speaker 1: produce in the future. And so what I could do 754 00:35:16,600 --> 00:35:19,000 Speaker 1: is I could hedge with the futures, and I could 755 00:35:19,040 --> 00:35:21,359 Speaker 1: sell my crop at this fixed price today, and that 756 00:35:21,400 --> 00:35:25,160 Speaker 1: way I d risk UM. And it's also for things 757 00:35:25,160 --> 00:35:28,360 Speaker 1: that are difficult to UM take custody of. So to 758 00:35:28,400 --> 00:35:31,560 Speaker 1: your point, Justine, so UM futures are great for commodities 759 00:35:31,600 --> 00:35:34,360 Speaker 1: like wheat or oil or gold that are very hard 760 00:35:34,880 --> 00:35:37,160 Speaker 1: or almost impossible to take delivery of it. In the 761 00:35:37,160 --> 00:35:40,640 Speaker 1: March of Saw, the oil price dropped to negative thirty 762 00:35:40,719 --> 00:35:42,359 Speaker 1: five and the reason why I went to negative thirty 763 00:35:42,360 --> 00:35:44,000 Speaker 1: five is because you have to take physical delivery and 764 00:35:44,000 --> 00:35:46,759 Speaker 1: nobody wanted to take physical delivery of it. And so 765 00:35:47,000 --> 00:35:48,960 Speaker 1: UM futures are great for those types of things. But 766 00:35:49,040 --> 00:35:52,400 Speaker 1: for bitcoin, it costs zero dollars to take custody of 767 00:35:52,400 --> 00:35:54,839 Speaker 1: your own bitcoin. That's that's really the killer app of it, 768 00:35:55,160 --> 00:35:58,960 Speaker 1: and so UM hopefully that changes things. Hopefully people would 769 00:35:59,000 --> 00:36:02,160 Speaker 1: rather just take custody of their bitcoin UM as opposed 770 00:36:02,200 --> 00:36:05,360 Speaker 1: to you know, oil or wheat. It's very difficult to 771 00:36:05,360 --> 00:36:08,920 Speaker 1: do that UM, and so hopefully that will change it. 772 00:36:09,600 --> 00:36:12,319 Speaker 1: Of course, just throw a little bone for Justine while 773 00:36:12,360 --> 00:36:14,080 Speaker 1: she's here with me, thank you for coming on. And 774 00:36:14,120 --> 00:36:16,520 Speaker 1: she works with unchained Capital, which is a multi stick 775 00:36:16,560 --> 00:36:19,000 Speaker 1: setup that I used to secure my bitcoin UM and 776 00:36:19,000 --> 00:36:21,760 Speaker 1: so it makes it super super easy too to secure 777 00:36:21,800 --> 00:36:24,239 Speaker 1: it UM but those are the big stories I guess 778 00:36:24,280 --> 00:36:28,960 Speaker 1: that I'm thinking of for for bitcoin, UM will continue 779 00:36:28,960 --> 00:36:31,440 Speaker 1: to see the network growing. I mean elsal it are 780 00:36:31,480 --> 00:36:35,560 Speaker 1: brought on millions of people alone. UM and UH we'll 781 00:36:35,560 --> 00:36:38,680 Speaker 1: continue to see that the development on the network growing. 782 00:36:38,719 --> 00:36:41,560 Speaker 1: We saw Jack Dorsey leave Twitter to go work on 783 00:36:41,800 --> 00:36:44,920 Speaker 1: bitcoin specifically, and UH we'll come back next week. We'll 784 00:36:44,920 --> 00:36:47,480 Speaker 1: talk about what to expect. For two. You're listening to 785 00:36:47,520 --> 00:36:51,040 Speaker 1: the Mark Moa show talking about bitcoin. We're talking about cryptocurrencies, 786 00:36:51,040 --> 00:36:54,120 Speaker 1: We're talking about the de centralized revolution. I've been in 787 00:36:54,160 --> 00:36:57,719 Speaker 1: the studio with Justine Harper, Miss Justine, I'm sorry at 788 00:36:57,760 --> 00:37:02,000 Speaker 1: misshotel on Twitter for unchained capital. Justine, thanks so much 789 00:37:02,000 --> 00:37:04,480 Speaker 1: for coming by and hanging out. Thank you for having me. 790 00:37:04,600 --> 00:37:06,719 Speaker 1: Look forward to it next time. That's what I got 791 00:37:06,760 --> 00:37:08,680 Speaker 1: for you today. Thanks so much for listening. To see 792 00:37:08,680 --> 00:37:09,120 Speaker 1: you next time.