WEBVTT - The Mark Moss Show Dec 29, 2021 0:00:00.280 --> 0:00:03.440 Hey, everyone, welcome to another episode of The Mark Moss Show. 0:00:03.440 --> 0:00:07.480 Where we're talking about bitcoin. We're talking about cryptocurrencies. We 0:00:07.520 --> 0:00:12.399 are talking about the decentralized revolution that is happening right now. 0:00:12.440 --> 0:00:16.480 We're witnessing it. Now a real or quick or recap 0:00:16.560 --> 0:00:18.840 of where we're at. We're almost wrapping up the year 0:00:18.880 --> 0:00:21.960 two thousand one, and we'll get into some more stuff 0:00:22.000 --> 0:00:23.400 to kind of wrap up the end of the year. 0:00:23.440 --> 0:00:26.520 I'm not gonna give you the full wrap up right now, 0:00:26.560 --> 0:00:29.000 but you know, just to kind of figure out where 0:00:29.040 --> 0:00:32.400 we're at. I was looking back at the price, and um, 0:00:32.880 --> 0:00:36.440 we're pumping today. As a matter of fact, dang, we're 0:00:36.520 --> 0:00:38.720 up over a thousand dollars just since I've been talking 0:00:38.720 --> 0:00:43.240 to you guys. That's not too bad and I'll take that. Um, yeah, 0:00:43.320 --> 0:00:45.280 not too bad at all. Actually, But if we look 0:00:45.320 --> 0:00:48.600 back through the let's let's call it the way back machine, 0:00:48.640 --> 0:00:51.760 and if I look back to about a year ago 0:00:52.159 --> 0:00:54.880 with the price of I'm sorry, two years ago, the 0:00:54.880 --> 0:00:59.080 price of bitcoin was about thousand dollars. If we go 0:00:59.160 --> 0:01:03.160 back to one year ago, yeah, where we are about 0:01:03.200 --> 0:01:07.880 twenty three thousand dollars one year ago, So twenty three thousand. 0:01:08.480 --> 0:01:11.240 You know, now we're here, let's see. So that's about 0:01:11.600 --> 0:01:14.800 If you go to we're a hundred percent a year, 0:01:14.959 --> 0:01:16.880 it's not bad. I'll take that. If we go back 0:01:16.880 --> 0:01:20.000 to two years ago, you know, we're at about seven 0:01:20.040 --> 0:01:22.600 thousand dollars, so looking pretty good. And yeah, the price 0:01:22.800 --> 0:01:26.120 is pumping as we speak. Maybe maybe, just maybe we're 0:01:26.120 --> 0:01:28.360 gonna get into one of these, uh, these end of 0:01:28.440 --> 0:01:31.560 year rallies. We've seen bitcoin move thousands and thousands of 0:01:31.600 --> 0:01:33.880 dollars in a single month. That's one of the reasons 0:01:33.920 --> 0:01:36.320 why you don't really want to trade bitcoin. I know, 0:01:36.480 --> 0:01:38.920 when you look at the technical analysis, you look at 0:01:38.920 --> 0:01:41.560 like a chart, and it's very vaultile. It is, it 0:01:41.720 --> 0:01:43.160 goes up and down all the time. And when you 0:01:43.200 --> 0:01:45.600 look at it. Of course, the in life, hindsight is 0:01:45.880 --> 0:01:49.120 is hindsight is clear. I mean, you look at you like, dang, 0:01:49.200 --> 0:01:50.520 if I could have just sold it here and then 0:01:50.520 --> 0:01:51.800 I could have bought it back here, and then I 0:01:51.800 --> 0:01:53.280 could have sold it here, and I gotta bought it here, 0:01:53.320 --> 0:01:55.680 and it looks so easy. And of course you hear 0:01:55.680 --> 0:01:57.480 all these stories of people doing all this and whatever. 0:01:57.960 --> 0:02:01.440 The reality is is that it's very difficult now there's 0:02:01.480 --> 0:02:04.040 been numerous studies done in the stock market. I don't 0:02:04.040 --> 0:02:05.600 have them pulled up in front of me, but numerous 0:02:05.600 --> 0:02:07.720 studies in the stock market that shows like over the 0:02:07.800 --> 0:02:12.280 last like not knockouting this year, that was crazy, but 0:02:12.360 --> 0:02:15.000 but before this year, if you look back over like 0:02:15.040 --> 0:02:17.240 the last like thirty or forty years, you know they've 0:02:17.240 --> 0:02:20.359 had an average turn of whatever eight eight percent um. 0:02:20.440 --> 0:02:23.320 But if you would have missed like the best twenty 0:02:23.480 --> 0:02:26.280 days of stock market performance in those like thirty years, 0:02:26.680 --> 0:02:28.799 your turn drops from like eight percent to like four percent. 0:02:29.160 --> 0:02:31.280 And if you miss like the top the best twenty 0:02:31.400 --> 0:02:34.680 days out of that thirty year thing, then your returns 0:02:34.680 --> 0:02:36.639 were flat. And if you missed like the best thirty days, 0:02:36.639 --> 0:02:38.959 then you actually lost money. And that's like so sitting 0:02:39.000 --> 0:02:42.160 out of sitting out of the market for only twenty 0:02:42.240 --> 0:02:46.200 days could have effectively wiped out all of your gains. 0:02:46.800 --> 0:02:48.799 And that's in the normal stock market, which isn't near 0:02:48.840 --> 0:02:53.080 as volatile as bitcoin is. But bitcoin moves super super fast. 0:02:53.200 --> 0:02:55.880 And so for example, I can look back over here, 0:02:56.680 --> 0:02:59.320 if I'm looking at the chart here back to where 0:02:59.400 --> 0:03:04.280 was this sept number September um. I mean, in one day, 0:03:04.760 --> 0:03:08.240 the price of bitcoin shot up, sent it dropped, it 0:03:08.320 --> 0:03:13.160 jumped two's out two thousand dollars in almost a single day. 0:03:13.960 --> 0:03:17.239 And here we are. You know, we've rallied, uh we 0:03:17.400 --> 0:03:19.519 rout rally like three thousand dollars since I've been talking 0:03:19.520 --> 0:03:21.720 to you guys. And so if you were out and 0:03:21.760 --> 0:03:23.320 you're trying to trade that and you missed that three 0:03:23.360 --> 0:03:27.160 thousand dollar pump, um, I mean I would, I could 0:03:27.160 --> 0:03:29.840 set back your your gains big time. And so UM, 0:03:29.880 --> 0:03:32.639 in my opinion, there's better things to do with your time. 0:03:32.639 --> 0:03:34.680 There's much more productive things to do with your time. 0:03:34.960 --> 0:03:36.400 There's much more things that you can do to bring 0:03:36.560 --> 0:03:38.840 value to the world than sit there looking at these 0:03:38.880 --> 0:03:42.600 stupid charts all day long. Zoom out two years ago 0:03:42.720 --> 0:03:44.960 seven thousand. Last year is about twenty tho and now 0:03:45.000 --> 0:03:47.720 we're over fifty thousand at the time we speak. So UM. 0:03:47.760 --> 0:03:51.760 That's that's some perspective that I would like to give you. Um. 0:03:51.840 --> 0:03:54.240 And we'll talk more about about that as we get 0:03:54.360 --> 0:03:55.920 later into the show, and to talk about some of 0:03:55.960 --> 0:04:00.480 the top five bitcoin stories of we're gonna dig into that. 0:04:01.240 --> 0:04:03.000 Before we do, I want to talk about something that's 0:04:03.000 --> 0:04:05.840 been pretty cool. I like to say that the price 0:04:06.000 --> 0:04:08.640 is the distraction. I say that the best the two 0:04:08.720 --> 0:04:10.040 things you want to look at about the growth of 0:04:10.040 --> 0:04:12.040 the network and the development that's happening on the network. 0:04:12.360 --> 0:04:14.000 The growth of the network, you know, you can see 0:04:14.040 --> 0:04:16.320 through UM stories that pop up all over the place. 0:04:16.360 --> 0:04:19.680 So for example, this week I saw Visa partners with 0:04:19.760 --> 0:04:24.240 sixty crypto platforms to let consumers spend digital currency at 0:04:24.320 --> 0:04:29.680 eighty million merchants. Man, that's big. Visas head of Crypto, 0:04:29.680 --> 0:04:31.640 has revealed that the payments giant has partnered with about 0:04:31.760 --> 0:04:35.120 sixty leading crypto platforms to launch card programs to make 0:04:35.120 --> 0:04:37.599 it easy for consumers to convert and spend digital currency 0:04:37.640 --> 0:04:41.760 at eighty million merchant locations worldwide. Emphasize we've built a 0:04:41.839 --> 0:04:43.400 lot of momentum in the space and will continue to 0:04:43.400 --> 0:04:48.960 support the crypto ecosystem in several ways. That's big, right, 0:04:49.040 --> 0:04:52.080 That is going to bring more users, and so remember 0:04:52.120 --> 0:04:54.080 we're looking at the growth of the users and the 0:04:54.080 --> 0:04:56.680 development the network. So that's big. I mean that's big. 0:04:56.720 --> 0:05:01.600 That's UM eight million. Now, who knows how many customers 0:05:01.640 --> 0:05:04.200 go through those eighty million merchants, but I would imagine 0:05:04.240 --> 0:05:07.320 it's uh hundreds of millions, if not billions of people, 0:05:07.720 --> 0:05:10.760 and so that is going to increase the amount of users. 0:05:10.800 --> 0:05:12.000 And then I want to look at the development on 0:05:12.000 --> 0:05:14.480 the network. And I talked about a couple of weeks ago, 0:05:14.520 --> 0:05:17.920 we talked about how Jack Dorsey, the founder CEO of Twitter, 0:05:18.040 --> 0:05:20.800 actually stepped down from Twitter, and he stepped down from 0:05:20.800 --> 0:05:24.279 Twitter to focus on bitcoin. He didn't he wanted to. 0:05:24.440 --> 0:05:28.279 He wanted to build out some bitcoin services. He renamed 0:05:28.520 --> 0:05:32.040 um Square the payment company to block and then he 0:05:32.080 --> 0:05:38.200 renamed them. He had another company called spiral Um. And 0:05:38.279 --> 0:05:42.359 since then, Jack has been going on quite the rampage. 0:05:42.400 --> 0:05:44.320 As a matter of fact, he is going head to 0:05:44.440 --> 0:05:47.279 head with the tech bros as we might call them, 0:05:47.279 --> 0:05:51.719 the venture capitalists out of Silicon Valley, et cetera. Which, um, 0:05:51.720 --> 0:05:54.960 it's pretty interesting to see now. A lot of people 0:05:55.000 --> 0:05:58.159 had criticized Jack Dorsey because at the as the CEO 0:05:58.200 --> 0:06:01.159 of Twitter um, Twitter was not living up to its 0:06:01.320 --> 0:06:03.799 um original intention, which was supposed to be a platform 0:06:03.839 --> 0:06:06.760 for free speech. And Jack Dorsey is supposed to be 0:06:06.800 --> 0:06:08.400 this advocate for free speech and yet here he is 0:06:08.400 --> 0:06:10.880 the CEO and he's he's censoring. I mean, they kicked 0:06:10.880 --> 0:06:13.800 off the active sitting president of the United States last 0:06:13.880 --> 0:06:17.640 year a long way away from being the quote unquote, 0:06:18.000 --> 0:06:22.200 you know, open free source of communication. But now that 0:06:22.240 --> 0:06:24.800 he has left, he stepped down to work on bitcoin, 0:06:24.960 --> 0:06:29.080 not crypto, just bitcoin. Um, we've seen some rapid changes 0:06:29.080 --> 0:06:30.680 happening on Twitter. As a matter of fact, they've started 0:06:30.680 --> 0:06:33.479 to censor people pretty pretty crazy. But he's also changed, 0:06:33.480 --> 0:06:35.440 and so the message that he's been sitting out has 0:06:35.480 --> 0:06:39.159 been pretty radical. The other day, um, Cardi B and 0:06:39.200 --> 0:06:41.080 for any of my hip hop fans out there, Cardi 0:06:41.120 --> 0:06:44.479 B tweeted out and said something, Um, she said, will 0:06:44.600 --> 0:06:49.360 cryptocurrencies replaced the dollar? And Jack Dorsey replied and he 0:06:49.480 --> 0:06:56.360 said bitcoin will not crypto bitcoin will, and so um, 0:06:56.400 --> 0:06:58.840 after that exchange, we saw the price start pumping, and 0:06:58.960 --> 0:07:01.360 I tweeted out, I think I said, uh, I said, 0:07:01.400 --> 0:07:03.640 did uh? Did Jack Dorsey tweeting at the Cardi B 0:07:03.839 --> 0:07:06.160 drive the market higher? Just kind of a tongue in cheek. 0:07:06.360 --> 0:07:07.640 By the way, if you're not following me on Twitter, 0:07:07.640 --> 0:07:10.120 you definitely should. I'm the number one Mark Moss at 0:07:10.520 --> 0:07:13.360 one Mark Moss just follow me there. Shoot me. Let 0:07:13.400 --> 0:07:14.680 me know you heard me on the radio. Asked me 0:07:14.720 --> 0:07:16.800 a question. I'll make sure to answer it. For you. Um, 0:07:16.800 --> 0:07:18.440 but anyway, it was kind of funny to see that happen. 0:07:18.520 --> 0:07:21.160 And since then he went on a rampage and what 0:07:21.240 --> 0:07:24.800 he's on a rampage over is what's called now what 0:07:24.920 --> 0:07:28.320 these people are calling Web three point oh. Now, if 0:07:28.360 --> 0:07:29.680 you've been listening to me for a while, you know, 0:07:29.720 --> 0:07:33.320 I've been on the Internet for a long time, and uh, 0:07:33.400 --> 0:07:34.760 you know, we had the web, and then we had 0:07:34.760 --> 0:07:36.560 Web two point oh, and now we have Web three 0:07:36.560 --> 0:07:40.120 point oh, and like really just like the web. But anyway, um, 0:07:40.120 --> 0:07:42.080 there's this whole thing about Web three point oh and 0:07:42.080 --> 0:07:43.920 it's this the new crypto thing, and it's Web three 0:07:43.960 --> 0:07:47.760 point and it's bringing all this investment capital in, um, 0:07:47.840 --> 0:07:51.000 you know. And so he went on this rampage on 0:07:51.040 --> 0:07:53.880 that and he said, quote, you don't own Web three 0:07:53.880 --> 0:07:58.560 point oh, says Jack Dorsey. He criticized its centralized nature. 0:07:59.320 --> 0:08:02.200 He said, quote, you don't. You don't own Web three 0:08:02.360 --> 0:08:05.920 The vcs and their LPs do. It will never escape 0:08:06.000 --> 0:08:10.440 their incentives. It's ultimately a centralized entity with a different label. 0:08:11.040 --> 0:08:14.280 Know what you're getting into? End quote um. And that 0:08:14.360 --> 0:08:16.640 was pretty cool. And then of course all the venture 0:08:16.640 --> 0:08:19.640 capitalists came out and started attacking him for that. Um 0:08:19.680 --> 0:08:23.560 even um Balaji said, uh oh no, Um. Twitter was 0:08:23.560 --> 0:08:26.320 started as a protocol, and he said, dude, you're talking 0:08:26.320 --> 0:08:27.640 to the wrong guy. I'm the founder of Twitter. It 0:08:27.680 --> 0:08:31.560 was started as a company, a centralized company. And so 0:08:31.640 --> 0:08:33.920 the big thing here is that these venture capital funds 0:08:34.240 --> 0:08:38.200 are starting these web three which are quote unquote these cryptocurrencies. 0:08:38.240 --> 0:08:42.600 But to his point, it's ultimately a centralized entity with 0:08:42.679 --> 0:08:45.600 a different label, meaning they control it. They control the 0:08:45.600 --> 0:08:48.000 amount of tokens that were printed, and they control what 0:08:48.240 --> 0:08:53.000 happens on that network moving forward. The different much different 0:08:53.000 --> 0:08:55.760 than bitcoin. Bitcoin nobody controls and I know, I know 0:08:55.840 --> 0:08:59.000 they use all these buzzwords and it's decentralized, don't you know. 0:08:59.080 --> 0:09:03.240 Market's decentral is decentralized governance right. Well, the very fact 0:09:03.280 --> 0:09:05.880 that it has governance tells you that it's not decentralized. 0:09:05.920 --> 0:09:07.880 So somebody can control it. Who can control it? The 0:09:07.880 --> 0:09:10.400 person with the most tokens. Um, I'm gonna tell you 0:09:10.440 --> 0:09:11.880 more about what Jack said, and then I want to 0:09:11.880 --> 0:09:15.040 come back with the top five bullish stories of two 0:09:15.080 --> 0:09:18.840 thousan You listen to the Markma Show, We're talking about bitcoin, 0:09:18.880 --> 0:09:23.240 cryptocurrencies and the decentralized revolution. We'll be right back. Hey everyone, 0:09:23.280 --> 0:09:25.800 welcome back. You are listening to the Markma Show and 0:09:25.800 --> 0:09:30.319 we're talking about bitcoin and cryptocurrencies and the decentralized revolution 0:09:30.360 --> 0:09:33.360 that's happening. I got one of my good friends, Justine 0:09:33.360 --> 0:09:36.080 that just joined me in the studio, Justine Harper. She 0:09:36.160 --> 0:09:39.320 works with Unchained Capital. We were just talking about some 0:09:39.360 --> 0:09:41.920 problems I had with my multi sig security earlier and 0:09:42.200 --> 0:09:44.440 she they managed to help me out. So that's pretty cool. 0:09:45.080 --> 0:09:47.880 But Justine, thanks so much for joining me, Thanks for 0:09:47.920 --> 0:09:50.960 having me, and Merry Christmas. Yeah, man, we are there. 0:09:51.000 --> 0:09:53.880 I can't believe it, man, two thousand one, just I 0:09:53.920 --> 0:09:57.679 went by so fast that it's uh happened yeah, like 0:09:57.920 --> 0:10:01.079 um something, you know, the pandemic happened in March of 0:10:01.200 --> 0:10:03.800 last year, so it's been like almost two years, and um, 0:10:03.840 --> 0:10:06.000 I think it. I don't know, almost like slowed things 0:10:06.040 --> 0:10:08.640 down last year and now like things happened so fast. 0:10:08.679 --> 0:10:10.360 It's like, wow, I can't believe we like two years 0:10:10.360 --> 0:10:12.920 into it, you know. I agree. I think I saw 0:10:12.960 --> 0:10:14.600 a meme the other day and it was like I'm 0:10:14.600 --> 0:10:18.200 still trying to process and wait, we're twenty two now, 0:10:18.240 --> 0:10:21.199 Like what's what happened, um, and I definitely can relate 0:10:21.240 --> 0:10:25.319 to that, like what has occurred? Um. Yeah, time flies, man, 0:10:26.000 --> 0:10:27.960 but yes, glad to be here. Thanks for having me. 0:10:28.080 --> 0:10:31.960 Crazy year in bitcoin, Yeah, it's crazy year in bitcoin, 0:10:32.040 --> 0:10:33.800 and so I thought it'd be fun just to kind 0:10:33.800 --> 0:10:35.640 of look back and talk about some of the big 0:10:35.679 --> 0:10:39.400 stories that happened throughout the year. UM. I still am 0:10:39.440 --> 0:10:42.880 working on my kind of big moments for myself and 0:10:42.920 --> 0:10:44.920 what I'm expecting for next year. So probably next week 0:10:44.960 --> 0:10:46.240 we'll talk about that. But I was just kind of 0:10:46.280 --> 0:10:48.480 looking through some of the big stories and some of 0:10:48.520 --> 0:10:50.120 the big ones that kind of caught my eye I 0:10:50.160 --> 0:10:53.199 thought we'd just talked about. So I think the big 0:10:53.240 --> 0:10:56.679 one was probably price action, and that's typically one of 0:10:56.760 --> 0:10:59.680 my least favorite ones to talk about. UM I called 0:10:59.840 --> 0:11:01.840 I called the bitcoin price like the bait and switch. 0:11:02.280 --> 0:11:03.720 You get baited in to try to make a bunch 0:11:03.720 --> 0:11:05.320 of money and then you get switched into the all 0:11:05.360 --> 0:11:08.199 the other all the other properties of bitcoin. But if 0:11:08.200 --> 0:11:10.280 we look at the price action of bitcoin, UM, I 0:11:10.360 --> 0:11:12.480 mean it did pretty good for the year. We're up 0:11:12.480 --> 0:11:14.839 and I was almost sevent it's actually on a run 0:11:14.960 --> 0:11:18.600 right now today. UM, pretty crazy. But I think if 0:11:18.600 --> 0:11:21.000 we look back, if we zoom out and we look 0:11:21.040 --> 0:11:25.079 at the lowest price point every year, and so um, 0:11:25.160 --> 0:11:28.640 we went to was four bucks, sixty five bucks, two 0:11:28.679 --> 0:11:31.959 hundred bucks was the only year it was down from 0:11:31.960 --> 0:11:38.080 two thirty eight hundred, and then the lowest point last 0:11:38.120 --> 0:11:41.560 year was three This year was twenty seven thousand. So 0:11:41.600 --> 0:11:44.959 we're almost double that. I mean, that's pretty damn good growth. 0:11:44.960 --> 0:11:48.200 I would say, yes, And this is why I laughed 0:11:48.480 --> 0:11:50.480 very hard any time we talk, like when we have 0:11:50.640 --> 0:11:53.760 any sort of a bearish day, right or a drop 0:11:53.760 --> 0:11:58.520 in the market, Oh, Bitcoin's dead, Bitcoin's over, And it's like, yeah, okay, 0:11:58.600 --> 0:12:01.320 so we're literally to the point where forty six thousand 0:12:01.640 --> 0:12:03.800 is dead. Bitcoin's dead. And then when you when you 0:12:03.880 --> 0:12:05.680 zoom out and look at where we were we're a 0:12:05.760 --> 0:12:09.080 year ago, it's it's worse. Yeah. I mean, I'm I'm 0:12:09.120 --> 0:12:12.120 with you. Um, prices irrelevant to me at this point, 0:12:12.120 --> 0:12:15.120 but I understand that it's not irrelevant to everyone, and 0:12:15.160 --> 0:12:18.040 it's a big factor into bringing people in, right, and 0:12:18.080 --> 0:12:21.600 it's important to sort of factor in bitcoin success from that. 0:12:21.960 --> 0:12:25.280 But I personally I don't care about the price. Do 0:12:25.320 --> 0:12:27.760 I have more SATs today? Than I do yesterday. But 0:12:27.840 --> 0:12:31.000 also it is kind of comical to look at where 0:12:31.000 --> 0:12:33.600 we've been, what the what the loads are for each year, 0:12:33.720 --> 0:12:36.320 and then just where we are now. It's it's, uh, 0:12:36.400 --> 0:12:39.240 it's shocking. I mean I remember it's over nine d 0:12:39.800 --> 0:12:43.280 memes or nine thousand memes, right, um yeah, I mean like, 0:12:43.840 --> 0:12:46.480 how are how are we sitting here? And how is uh, 0:12:46.559 --> 0:12:50.120 how are people still doubting the the adoption of bitcoin 0:12:50.160 --> 0:12:52.360 at this point? I think it is pretty impressive. Yeah, 0:12:52.440 --> 0:12:54.440 And I love just the perspective. I mean when you 0:12:54.520 --> 0:12:56.800 zoom out and you're just like, you know, everyone's like, 0:12:56.800 --> 0:12:59.199 it's it's too volatile. It's too volatile. It's not a 0:12:59.200 --> 0:13:01.280 good store voute because is too volatile, and never make 0:13:01.320 --> 0:13:03.440 it as meaning exchange, which you know, it's not maybe 0:13:03.480 --> 0:13:05.080 the best met to exchange today. It doesn't mean it 0:13:05.080 --> 0:13:07.040 won't be in the future, but as a store of value, 0:13:07.040 --> 0:13:09.600 it's like it's too volatile. It's like, well, it's been 0:13:09.760 --> 0:13:13.679 up every single year, you know, like that's a pretty 0:13:13.760 --> 0:13:15.880 damn good store of value in my opinion, you know, 0:13:16.559 --> 0:13:19.559 um right, I think it's average it's up two eage 0:13:19.640 --> 0:13:21.680 year or something. I could be wrong on that. On 0:13:21.760 --> 0:13:24.200 that percentage, but it's like, yeah, when you zoom out, 0:13:24.240 --> 0:13:27.520 it goes up. I've joked about my my future t 0:13:27.720 --> 0:13:30.320 a podcast or YouTube channel where it's going to just 0:13:30.320 --> 0:13:31.640 be like, you know, it goes up and then it 0:13:31.720 --> 0:13:33.720 kind of like goes down for a little bit, and 0:13:33.720 --> 0:13:36.719 then it's just like it's continuously going up in an 0:13:36.760 --> 0:13:41.800 upward right position, you know direction, because yeah, yes it fluctuates, 0:13:41.840 --> 0:13:44.640 but it's it's up your after year and anyone holding 0:13:44.679 --> 0:13:46.440 their wealth and pitcoin is doing pretty good. I think 0:13:46.559 --> 0:13:49.040 it's funny because I started buying bitcoin back when it 0:13:49.080 --> 0:13:52.160 was about three hundred bucks, and I've been trying to 0:13:52.160 --> 0:13:54.120 get friends of mine into it for a long time. 0:13:54.120 --> 0:13:55.880 And I don't really go super wide with my friends, 0:13:55.880 --> 0:13:57.480 but friends that are a little bit into kind of investing, 0:13:57.679 --> 0:13:59.080 I try to get dragging the man. And I remember 0:13:59.280 --> 0:14:01.480 one of my friends I finally convinced to buy it 0:14:01.520 --> 0:14:04.160 about four thousand dollars and then it dropped down to 0:14:05.440 --> 0:14:07.840 and he was so mad at me. He hated me, 0:14:07.920 --> 0:14:10.320 like I I got him into the scam. He lost 0:14:10.400 --> 0:14:13.400 half his money. Like, dude, you bought in at four thousand, 0:14:13.480 --> 0:14:15.200 it's like fifty thousand a day, right, And I had 0:14:15.240 --> 0:14:17.680 another friend, Um, I got him to buy in January 0:14:18.960 --> 0:14:21.080 after bitcoin had blown off from twenty thousand, and he 0:14:21.160 --> 0:14:23.840 end up buying about I think fourteen fifteen thousand, and 0:14:23.840 --> 0:14:26.320 they continue to go down. Uh, and the same thing. 0:14:26.360 --> 0:14:28.800 He's like, oh, you told me to buy, now all 0:14:28.840 --> 0:14:30.800 of it down, and I'm just like, I mean, people 0:14:30.800 --> 0:14:32.960 would be so happy to have bought it fifteen thousand 0:14:33.040 --> 0:14:35.200 a day, you know. And um, no matter how much 0:14:35.200 --> 0:14:37.240 they'd tell him like zoom out, have this long tip perspective, 0:14:37.240 --> 0:14:39.800 they don't do it. Um. But yeah, looking backwards, say, 0:14:39.800 --> 0:14:42.160 it's kind of funny. Oh, it's hard to do, I think, 0:14:42.160 --> 0:14:44.800 but it also is uh. I think it's it's almost 0:14:44.920 --> 0:14:48.080 a ride of passage, right, Like bitcoin makes sense for 0:14:48.120 --> 0:14:49.880 a long term, and I think it's really hard for 0:14:49.880 --> 0:14:52.160 people to sort of zoom out. And so my mom 0:14:52.280 --> 0:14:54.600 the same way. I shouldn't say this, um, but you know, 0:14:54.680 --> 0:14:56.920 she finally bought at a certain price and didn't buy 0:14:56.920 --> 0:14:59.280 a lot, you know, but and then it immediately went 0:14:59.360 --> 0:15:06.040 down and she was like, oh, okay, UM, So I 0:15:06.040 --> 0:15:08.600 think it is it's hard to uh when you're stuck 0:15:08.640 --> 0:15:11.120 in the moment see it. But but yeah, I mean 0:15:11.160 --> 0:15:13.960 if you Look, you're after year, you're over year, You're 0:15:13.760 --> 0:15:17.120 you're going to be fine. Yeah, we've all had well, 0:15:17.120 --> 0:15:18.880 if you've been in long enough anyway, we've all had 0:15:18.880 --> 0:15:22.720 those awkward Christmas and Thanksgivings where you have to sit 0:15:22.760 --> 0:15:24.880 around the table with your family and they're all down 0:15:24.880 --> 0:15:28.680 in their positions. Um, Luckily, my parents, man, they've got 0:15:28.720 --> 0:15:31.680 strong hands. Man, my my, my parents have held strong 0:15:31.760 --> 0:15:34.920 and they haven't they haven't wavered. And and so I 0:15:34.920 --> 0:15:37.840 gotta give him that. I guess they got me so. Um. 0:15:37.880 --> 0:15:39.320 By the way, you're listening to the Mark Ma Show, 0:15:39.360 --> 0:15:41.640 I'm in the studio with Justine Harper. You can find 0:15:41.640 --> 0:15:44.560 her on Twitter at Misshotel M S h O d L. 0:15:45.200 --> 0:15:47.480 Give her a shout out and say hello. Um. We're 0:15:47.480 --> 0:15:49.720 talking about some of the top stories in bitcoin for 0:15:49.840 --> 0:15:53.000 two thousand twenty one. Another big one this year was 0:15:53.240 --> 0:15:56.360 Tesla adding bitcoin to its balance sheet. I think that 0:15:56.440 --> 0:15:59.720 was a big one. It um instantly, I remember, I 0:15:59.720 --> 0:16:03.480 remember ever when happened, instantly shot bitcoin higher. Um, you 0:16:03.520 --> 0:16:07.440 know it what. Ellen has a million followers on Twitter, 0:16:07.520 --> 0:16:10.040 so it instantly shot that up. Um. A lot of 0:16:10.080 --> 0:16:12.240 bitcoin people thought that was great. Things have kind of 0:16:12.240 --> 0:16:13.720 fumbled a little bit since then, but I think it 0:16:13.760 --> 0:16:16.320 really did help it to kind of notch a level higher. 0:16:16.360 --> 0:16:19.880 I would say, I don't know what you think. Yeah, 0:16:20.080 --> 0:16:23.240 I agree with that. I think that it says a lot. 0:16:23.640 --> 0:16:27.200 People can talk about certain things on Twitter. UM. I 0:16:27.240 --> 0:16:29.360 say this as like there's celebrities who are paid to 0:16:29.360 --> 0:16:32.920 say things. I think Ellen really enjoys Twitter. He likes 0:16:32.920 --> 0:16:36.080 to rile people up, but also just kind of enjoys it, 0:16:36.160 --> 0:16:39.360 so he'll mention things on Twitter and UM. But it 0:16:39.400 --> 0:16:43.080 says a lot when you actually are betting your your 0:16:43.080 --> 0:16:45.760 cash reserves of your company on bitcoin, I think that 0:16:45.800 --> 0:16:49.000 shows a level of commitment that's much different than shilling 0:16:49.040 --> 0:16:52.600 something on Twitter. UM. In my opinion, it makes perfect sense. 0:16:52.720 --> 0:16:55.440 I mean, the dollar is devaluing year after year, and 0:16:55.480 --> 0:16:57.520 when you have cash reserves for a business, the last 0:16:57.520 --> 0:17:00.160 thing you want is to see your your profits go 0:17:00.280 --> 0:17:02.440 down while the expense of everything you need to do 0:17:02.520 --> 0:17:04.399 goes up. So why wouldn't you hold it in an 0:17:04.400 --> 0:17:06.640 asset that that holds its value better? So I think 0:17:06.640 --> 0:17:08.639 it makes sense. But I do think it was quite 0:17:08.880 --> 0:17:13.240 a move for you on um because he he kind 0:17:13.240 --> 0:17:15.159 of you know, he likes to ruffle feathers but I 0:17:15.240 --> 0:17:18.159 think actions are are stronger than words, and this was 0:17:18.200 --> 0:17:20.240 a pretty big action in my opinion. Well and it 0:17:20.320 --> 0:17:22.520 and it put it on the map. So it put 0:17:22.560 --> 0:17:24.400 it on the map for all of those fifty million 0:17:24.400 --> 0:17:25.920 people that follow on Twitter plus you know, it's a 0:17:25.920 --> 0:17:27.480 bigger audience or whatever. So I think it put on 0:17:27.480 --> 0:17:29.159 the map. And then to your point, the skin in 0:17:29.160 --> 0:17:31.359 the game put his money where his mouth is. He 0:17:31.400 --> 0:17:33.080 did go out to say that I have not sold 0:17:33.119 --> 0:17:35.479 any of my bitcoin testlas old temper cent of its 0:17:35.480 --> 0:17:37.840 holding is essentially to prove liquidity of bitcoin as an 0:17:37.840 --> 0:17:41.080 alternative to holding cash on balance sheet. So um, to 0:17:41.119 --> 0:17:43.439 your point, Justine, he's moved it into reserve, he's still 0:17:43.440 --> 0:17:47.360 holding it, and he has continued to hold his holdings 0:17:47.400 --> 0:17:49.080 as well. Are you listening to the Mark mo Show. 0:17:49.119 --> 0:17:52.359 We're talking about bitcoin and the decentralized revolution in the 0:17:52.359 --> 0:17:55.600 studio with Justine and we're talking about the top things 0:17:55.680 --> 0:17:58.880 that happened in bitcoin in two thousand twenty one will 0:17:58.920 --> 0:18:01.720 be Iraq, don't go way all right, welcome back. You 0:18:01.760 --> 0:18:04.280 are listening to the markma Show and we're talking about bitcoin. 0:18:04.760 --> 0:18:08.080 We're talking about the decentralized revolution that's happening, and I'm 0:18:08.080 --> 0:18:10.640 in the studio with Justine Harper. You can find her 0:18:10.640 --> 0:18:13.639 on Twitter at Misshotel M s h O d L. 0:18:13.960 --> 0:18:16.320 And we're talking about the top five things, the top 0:18:16.359 --> 0:18:18.200 couple of things that have happened in bitcoin, and two 0:18:18.680 --> 0:18:21.760 one that went by like a whirlwind. And so we 0:18:21.760 --> 0:18:24.879 talked about the price. Um the lowest price of the 0:18:24.920 --> 0:18:27.639 year was twenty seven thousand, and we're up almost double 0:18:27.720 --> 0:18:30.840 that at this point. We talked about Tesla adding bitcoin 0:18:31.080 --> 0:18:33.840 both to its balance sheet as well as um elon 0:18:33.960 --> 0:18:37.040 Musk holding it and said that they are not selling it. 0:18:37.080 --> 0:18:39.760 I think, um the next story, which I think is 0:18:39.840 --> 0:18:41.760 has got to be the biggest story of the year, 0:18:42.200 --> 0:18:45.239 is that El Salvador, right, El Salvador declares bitcoin as 0:18:45.359 --> 0:18:48.480 legal tender, which is pretty amazing. I mean, they had 0:18:48.520 --> 0:18:50.880 to fight off the World Bank, they had to fight 0:18:50.920 --> 0:18:54.200 off the International Monetary Fund. Uh, they've had to fight 0:18:54.240 --> 0:18:58.919 off what maybe you know, US Federal Reserve CIA operatives 0:18:58.920 --> 0:19:02.160 working down there to to destabilize that. I mean, they've 0:19:02.200 --> 0:19:05.479 they've come under massive, massive fire. They've obviously had technical 0:19:05.480 --> 0:19:08.920 difficulties to roll out something that big, but through all 0:19:08.960 --> 0:19:11.639 of that, I mean, the president bu Gallea is like 0:19:11.720 --> 0:19:15.880 held strong and uh and uh kind of turned into 0:19:15.920 --> 0:19:18.800 one of the top Twitter trolls. On top of that, Yes, 0:19:19.160 --> 0:19:22.560 he's uh. I would say that he's very good at Twitter. Um, 0:19:22.600 --> 0:19:24.840 and it's amazing to see someone in his He might 0:19:24.840 --> 0:19:27.160 be as good as you, Justine. I think he's much 0:19:27.200 --> 0:19:28.560 better than me. I was going to put him up 0:19:28.560 --> 0:19:30.919 there with Elon, but I think that I I appreciate 0:19:31.000 --> 0:19:33.359 the principles from one a little bit more than the other. 0:19:33.440 --> 0:19:35.879 But uh, but I do think, yeah, he has a 0:19:35.920 --> 0:19:38.000 way of kind of like he stands behind what he 0:19:38.000 --> 0:19:40.919 says and what he does. Um, no matter what you 0:19:40.960 --> 0:19:43.840 think of him as an individual. UM, I think it's 0:19:43.920 --> 0:19:47.600 huge And I think sometimes I think Alex Godson says 0:19:47.640 --> 0:19:49.080 this best. You know, we kind of come from a 0:19:49.119 --> 0:19:51.840 privileged world when when we live in the U S. 0:19:51.880 --> 0:19:54.800 And we don't realize the issues that many individuals have 0:19:55.000 --> 0:19:58.520 for accessing financial services. And I think Al Savager is 0:19:58.520 --> 0:20:00.960 a huge example of that. Is is the bitcoin a 0:20:01.000 --> 0:20:04.040 great medium exchange for us right now? Uh? No, you know, 0:20:04.080 --> 0:20:06.359 the dollar works pretty good for that. We can save 0:20:06.400 --> 0:20:08.760 in bitcoin and we can you know, like you know, 0:20:09.040 --> 0:20:12.320 spend things when needed and so forth. But some people 0:20:12.320 --> 0:20:15.560 don't have access to those services. You know, people in 0:20:15.560 --> 0:20:18.280 el servera door. From my understanding, we're on a and 0:20:18.320 --> 0:20:20.679 you were there, We're on a bus for hours, you know, 0:20:20.760 --> 0:20:24.040 to go access financial services with cash on hand, where 0:20:24.040 --> 0:20:26.119 they could be robbed, where you know, it's it's a 0:20:26.200 --> 0:20:29.600 dangerous situation for them. Um. So I think bitcoin solves 0:20:29.640 --> 0:20:31.840 that problem for so many people in a way that 0:20:32.240 --> 0:20:36.320 also allows them to save in an asset that won't devalue. 0:20:36.400 --> 0:20:38.879 So individuals who maybe have never had the ability to 0:20:38.920 --> 0:20:41.400 say before now have that as well. So I think 0:20:41.400 --> 0:20:44.159 this was huge. It hands down the biggest story of 0:20:44.160 --> 0:20:46.520 the year, um, And I think it was. It was 0:20:46.600 --> 0:20:49.600 definitely a moment that everybody was watching to wait. They 0:20:49.600 --> 0:20:51.359 were waiting for them to fall on their face, and 0:20:51.400 --> 0:20:53.919 now they haven't. So how will that look? You know what, 0:20:54.000 --> 0:20:56.119 Other countries are now going to be looking into this 0:20:56.280 --> 0:20:58.960 because at the end of the day, it fixes it 0:20:59.080 --> 0:21:01.399 solves a problem for them, and I think it's huge. 0:21:01.920 --> 0:21:04.119 Yeah to your point. You know, Um, in the United States, 0:21:04.119 --> 0:21:06.280 where we're privileged, Um, the dollar works really well as 0:21:06.280 --> 0:21:08.000 a mean of exchange. And I tell people, don't spend 0:21:08.000 --> 0:21:10.560 your bitcoin, save your bitcoin, spend your fee at but 0:21:10.640 --> 0:21:14.520 in El Salvador, Um, Yeah, I've been there, And they 0:21:14.520 --> 0:21:17.640 don't have access to a digital banking world like we do. 0:21:17.840 --> 0:21:19.679 So they can't walk around town and spend off their 0:21:19.760 --> 0:21:21.920 Venemo or spend off their debit cards. They don't have that, 0:21:22.280 --> 0:21:24.399 and so it's a cash society. And so um, the 0:21:24.480 --> 0:21:26.639 stores and both you know, both both the merchants and 0:21:26.640 --> 0:21:29.040 the retailers, they have to just basically pay with cash 0:21:29.320 --> 0:21:31.439 and they can't you know, send him, receive money electronically 0:21:31.440 --> 0:21:34.119 and whatnot. And so they don't have that privilege we have. 0:21:34.160 --> 0:21:36.880 And now bitcoin has enabled them to join this global 0:21:36.960 --> 0:21:40.440 financial network, um, which is which is pretty dang cool, um, 0:21:40.480 --> 0:21:42.160 And so it's a big need for them. They've they've 0:21:42.160 --> 0:21:44.480 on board, and millions of people, those millions of people 0:21:44.520 --> 0:21:46.600 all got like thirty dollars worth a bitcoin, which is 0:21:46.640 --> 0:21:48.720 since like doubled since they got it. So like that's 0:21:48.720 --> 0:21:51.959 pretty cool as well. UM. And you know they've had 0:21:52.000 --> 0:21:54.879 their troubles, right, I mean, there's a numerous complaints and 0:21:54.920 --> 0:21:57.000 problems with the tech from the achiev A wallet and 0:21:57.040 --> 0:22:01.080 I get that, um. I mean, UM, imagine rolling out 0:22:01.200 --> 0:22:03.800 a new system that's never been done before. This this 0:22:04.280 --> 0:22:07.199 this advanced, um and not having some problems like come on, 0:22:07.280 --> 0:22:11.040 cut them some slack with right, I mean it's insane. Yeah, 0:22:11.080 --> 0:22:14.159 I think that's that's to be expected for sure. Um. 0:22:14.200 --> 0:22:16.000 I think that one of the stats that I saw 0:22:16.040 --> 0:22:18.240 come out was that and I forget the exact number. 0:22:18.240 --> 0:22:20.560 You may may know this more than me, but essentially 0:22:20.640 --> 0:22:23.080 saying that more people in Al Savador now have a 0:22:23.119 --> 0:22:26.399 bitcoin wallet than you know, a banking account. And I 0:22:26.400 --> 0:22:29.200 think that really shows the need for that area and 0:22:29.240 --> 0:22:32.120 what problem it's solving for them, because yeah, you can 0:22:32.680 --> 0:22:35.560 as an individual, I can now go into Al Salvador 0:22:35.600 --> 0:22:38.840 support my local common economy with just simply a cell phone. Right, 0:22:38.840 --> 0:22:42.040 I can download an app I have, I have access 0:22:42.080 --> 0:22:45.760 to digital financial services and don't have to use you know, 0:22:45.800 --> 0:22:47.480 some sort of outside party where I have to travel 0:22:47.480 --> 0:22:49.960 a long long distance and from a merchant standpoint, I 0:22:49.960 --> 0:22:52.120 mean this is huge for them in my opinion. UM, 0:22:52.200 --> 0:22:54.600 so yes, I think this is I don't think this 0:22:54.680 --> 0:22:57.520 is the like, it's not the story that happened in 0:22:58.359 --> 0:22:59.959 one and then it's done, like. I think this will 0:23:00.080 --> 0:23:03.239 be like the ongoing story. This is a a thing 0:23:03.280 --> 0:23:05.400 that will continue to develop and we will see more 0:23:05.440 --> 0:23:07.640 and more people sort of using it as an example 0:23:07.720 --> 0:23:10.199 to shape their own economy. Um. And that's that's what 0:23:10.240 --> 0:23:12.840 bitcoin is, right, It's freedom. It solves problems, and I 0:23:12.880 --> 0:23:15.720 think what problem it solves for each individual is different, 0:23:15.720 --> 0:23:18.040 and I think this is a great example of that. Yeah, 0:23:18.040 --> 0:23:20.560 I was just looking here. Seventy it says here for 0:23:20.720 --> 0:23:24.399 the latest Bank of America report, whal Research reports seventy 0:23:24.720 --> 0:23:26.879 of the adult population else ove order did not or 0:23:26.960 --> 0:23:30.359 does not have a bank account seventy. So it's pretty 0:23:30.440 --> 0:23:32.679 pretty massive. I would agree with you, Justine. I think 0:23:32.760 --> 0:23:35.359 this is going to be, um, something that's you know, 0:23:35.359 --> 0:23:36.919 when you look back through history, like I love to 0:23:36.920 --> 0:23:39.840 look at history, there's these certain key things that happened 0:23:39.880 --> 0:23:41.800 that really pivoted and changed things. And I think this 0:23:41.880 --> 0:23:43.560 is going to be one of those things. Um. And 0:23:43.720 --> 0:23:47.520 I think it's going to really signify, um, hopefully. I 0:23:47.560 --> 0:23:50.040 think I hope that's going to signify kind of the 0:23:50.160 --> 0:23:52.800 end of this giant nation state and back to more 0:23:52.840 --> 0:23:56.600 of a competitive landscape because not only it seems like 0:23:56.800 --> 0:23:58.919 and I don't know about the politics, I don't know 0:23:58.960 --> 0:24:01.479 the president personally, and I know people have accused him 0:24:01.480 --> 0:24:04.160 of being this you know, dictator whatever. I don't know, um, 0:24:04.160 --> 0:24:06.439 but it seems like to me that once he got 0:24:06.520 --> 0:24:10.160 bit by the bitcoin bug, he's now starting to attach 0:24:10.240 --> 0:24:12.320 to a lot of the other properties, the freedom properties 0:24:12.320 --> 0:24:15.120 and things like that, because now we've seen he said, uh, hey, 0:24:15.119 --> 0:24:19.280 now El Salvador is an open country, no mandates, no testing. Uh, 0:24:19.359 --> 0:24:21.399 we have vaccines if you want them, everybody can have 0:24:21.440 --> 0:24:22.960 them for free. If you don't want them, don't have them, 0:24:22.960 --> 0:24:25.480 no big deal. And uh, like it's really and oh 0:24:25.560 --> 0:24:27.200 and by the way, we have this bitcoin sitting there 0:24:27.240 --> 0:24:29.920 and you can come and no taxes, and like, um man, 0:24:29.920 --> 0:24:31.399 you're really starting to see kind of be this like 0:24:31.440 --> 0:24:34.040 a place of freedom, which is pretty cool. Yeah, I agree. 0:24:34.040 --> 0:24:35.879 I was going to say that that it seems like he, uh, 0:24:36.119 --> 0:24:38.679 he kind of changed his mind on some of the 0:24:38.760 --> 0:24:41.879 more in my opinion, like government overreach mandates that he 0:24:41.960 --> 0:24:44.520 had he had had previously, which is great. I think 0:24:44.560 --> 0:24:47.040 a bitcoin, uh, it changes us. It makes us look 0:24:47.040 --> 0:24:49.520 at things differently, and and it aligns the incentives in 0:24:49.560 --> 0:24:51.560 a way that we can't ignore. So I think that 0:24:51.640 --> 0:24:54.960 was a really beneficial fantasy as well. Now the one 0:24:55.080 --> 0:24:57.960 thing is, so he's speaking at the bitcoin conference bitcoin 0:24:58.160 --> 0:25:02.160 Uo is coming up in April, I believe of next year. 0:25:02.520 --> 0:25:04.679 I'm speaking there. By the way, so if you're not 0:25:04.760 --> 0:25:07.560 already getting your tickets to Bitcoin conference, you should. And 0:25:07.600 --> 0:25:09.320 by the way, you can save ten percent on your 0:25:09.320 --> 0:25:12.480 tickets by using mark at the checkout code. But also 0:25:12.520 --> 0:25:17.040 the President Bukeley is also speaking there, and supposedly, according 0:25:17.080 --> 0:25:20.399 to a bitcoin magazine, supposedly he's got something really big 0:25:20.440 --> 0:25:23.399 to announce. We don't know what that is, obviously, I 0:25:23.400 --> 0:25:25.560 don't have the spoil alert. I sent out a tweet 0:25:25.640 --> 0:25:28.000 on on Twitter the other day, I said, Hey, what 0:25:28.080 --> 0:25:30.280 I really want I said, there's he's gonna announce something. 0:25:30.320 --> 0:25:32.560 What I really want him to announce is that there's 0:25:32.560 --> 0:25:36.239 like a citizenship program for bitcoinners that we can get passports, um, 0:25:36.280 --> 0:25:37.959 I said, retweeted if you wanted to get up there. 0:25:37.960 --> 0:25:41.600 And I don't know God or whatever, but that would 0:25:41.600 --> 0:25:43.720 be really cool if he comes and announces that where 0:25:43.760 --> 0:25:46.080 you could invest you know, two bitcoin or or one 0:25:46.160 --> 0:25:47.879 or two bitcoin or three whatever the amount is, but 0:25:47.960 --> 0:25:51.600 to get citizenship right away. Uh. Any thoughts on that 0:25:53.000 --> 0:25:55.560 that would be huge. I'm a big fan of Katie 0:25:55.600 --> 0:25:58.600 who does climb passports, and this is something that you 0:25:58.640 --> 0:26:01.000 know she helps bitcoin or is there really anybody it's 0:26:01.000 --> 0:26:03.639 not just a bitcoin specific right, finding that second passport, 0:26:03.720 --> 0:26:07.160 finding places that are more freedom minded. Um, I think 0:26:07.200 --> 0:26:10.080 this is like exactly how it should be. I think 0:26:10.160 --> 0:26:13.679 that the free market, if allowed to work properly, works 0:26:13.680 --> 0:26:16.119 for everyone. And I think the free market idea with 0:26:16.200 --> 0:26:19.720 citizenship and being able to essentially like, I'm gonna move 0:26:19.760 --> 0:26:21.760 to where it incentivized it is to me most to 0:26:21.760 --> 0:26:25.280 be a citizen and those countries are incentivized to offer 0:26:25.359 --> 0:26:27.680 me really great things that I want to come via 0:26:27.720 --> 0:26:30.679 citizen for it improves everything. Um. So I think this 0:26:30.760 --> 0:26:34.080 is the natural next step, right Like bitcoinners have already 0:26:34.160 --> 0:26:38.320 completely fully supported al Savador and the Bitcoin city um idea. 0:26:38.840 --> 0:26:42.240 So having the ability to actually gain citizenship for many 0:26:42.240 --> 0:26:45.080 people would be a game changer. So I'm with you. 0:26:45.240 --> 0:26:47.639 I think that's probably If I had to bet, I 0:26:47.640 --> 0:26:50.600 would guess that that's probably what it is. But UM 0:26:50.600 --> 0:26:52.640 excited to see it. I don't have any spoilers either, 0:26:53.359 --> 0:26:57.280 but but definitely definitely think that we'll keep our fingers crossed. 0:26:57.720 --> 0:26:59.720 I heard, uh, I heard, I heard if you buy 0:26:59.760 --> 0:27:01.359 this bitcoin bond, that's the other big thing is that 0:27:01.400 --> 0:27:03.120 now there's this bitcoin bond, so they may be able 0:27:03.119 --> 0:27:05.080 to raise money um without having to go through the 0:27:05.080 --> 0:27:07.000 I m F, whichould be big um. And maybe if 0:27:07.000 --> 0:27:08.480 you buy the bitcoin bond, there might be like a 0:27:08.520 --> 0:27:10.879 residency which is like a five year path to citizenship. 0:27:10.880 --> 0:27:14.800 But we'll wait and see on that. Unfortunately, as American citizens, uh, 0:27:15.040 --> 0:27:17.080 we're not allowed to participate in that, you know, for 0:27:17.119 --> 0:27:19.159 our own protection. By the way, you're listening to the 0:27:19.160 --> 0:27:22.119 Markma Show. We're talking about bitcoin and the decentralized revolution. 0:27:22.119 --> 0:27:24.640 We're talking about the biggest stories of two thousand twenty 0:27:24.640 --> 0:27:27.240 one in the studio with Justine Harper at Miss Hotel 0:27:28.040 --> 0:27:29.960 and uh, we discovered a couple of stories. We're gonna 0:27:30.000 --> 0:27:32.399 be back with a couple more, so don't go away, 0:27:32.680 --> 0:27:34.680 all right, welcome back. You're listening to the Markma Show 0:27:34.680 --> 0:27:36.720 and we're talking about bitcoin and we're talking about this 0:27:36.760 --> 0:27:40.800 decentralized revolution. We're talking about the biggest stories that happened 0:27:41.000 --> 0:27:43.600 for bitcoin in two thousand twenty one. I'm in the 0:27:43.640 --> 0:27:45.879 studio with one of my good friends, Justine Harper you 0:27:45.880 --> 0:27:48.280 can find her on Twitter at Miss Hotel, and we 0:27:48.320 --> 0:27:50.280 recapped a couple of big things so far. We talked 0:27:50.320 --> 0:27:53.439 about the price, which to me is the least important 0:27:53.440 --> 0:27:55.600 thing to talk about. But UM low point low points 0:27:55.600 --> 0:27:57.800 this year is twenty seven thousand, and we're almost double that, 0:27:58.200 --> 0:28:00.800 which is pretty cool. We talked about Tesla adding it 0:28:00.800 --> 0:28:02.840 to its bounce sheet and you know, Elon Musk maybe 0:28:02.840 --> 0:28:06.040 bringing it to the forefront of of all his followers minds, 0:28:06.080 --> 0:28:09.119 which is pretty cool. UM. He did say that Tesla 0:28:09.160 --> 0:28:11.000 hasn't sold a name of his holding. Well, they sold tempercent, 0:28:11.080 --> 0:28:12.800 he hasn't sold any of them. And then we just 0:28:12.800 --> 0:28:14.639 talked about El Salvador, which I think is really the 0:28:14.680 --> 0:28:16.000 biggest story of the year. And if I would have, 0:28:16.600 --> 0:28:18.359 I should have reorganized this because I should have been 0:28:18.640 --> 0:28:20.640 the biggest story. It definitely was in my mind, it's 0:28:20.640 --> 0:28:24.600 the most important story. UM. Another big story, though, that 0:28:24.640 --> 0:28:27.040 I think is equally as big. I'm as happy about 0:28:27.080 --> 0:28:31.439 it personally. UM, is that I think, uh that the 0:28:31.480 --> 0:28:35.000 bitcoin et s were approved and UM, since like two 0:28:35.040 --> 0:28:37.080 thousand and seventeen, they've been trying to get bitcoin u 0:28:37.200 --> 0:28:42.040 e t s through and they've just been denied, denied, denied, denied, denied. UM. 0:28:42.080 --> 0:28:44.360 There's pros and cons to this, I think. UM. The 0:28:44.480 --> 0:28:46.960 one thing that I would say that the pro though, 0:28:47.560 --> 0:28:50.600 is that whenever you have a new technology, um there's 0:28:50.640 --> 0:28:54.720 like this bell curve um. It's the innovator, innovator's diffusion, 0:28:54.720 --> 0:28:57.800 diffusion of innovation, and it's how a new technology gets 0:28:57.800 --> 0:29:00.240 out into adoption. And so you start out with the inventors, 0:29:00.240 --> 0:29:02.720 and then you get the visionaries, and that it gets 0:29:02.720 --> 0:29:05.360 to about fifteen percent adoption, and then there's something called 0:29:05.400 --> 0:29:08.040 the chasm before you get to the early majority and 0:29:08.080 --> 0:29:11.640 then eventually the late majority. And the chasm represents a 0:29:11.800 --> 0:29:16.120 gap in the public's mind where they don't understand what 0:29:16.160 --> 0:29:18.920 the technology is or that it's real. It's still a scam, 0:29:18.920 --> 0:29:21.200 it's still a joke, it's still what it ridiculous, whatever 0:29:21.200 --> 0:29:22.920 it may be. It's a chasm. There's something in their 0:29:22.960 --> 0:29:26.960 mind that's blocking them. But to get over the chasm, 0:29:27.120 --> 0:29:31.280 the early majority's mind has to get past that where 0:29:31.280 --> 0:29:33.840 they see it as something real, legit, and the use 0:29:33.880 --> 0:29:36.920 case has even changed. And I think El Salvador definitely 0:29:36.960 --> 0:29:38.360 helped that. I think lots of things. I think this 0:29:38.440 --> 0:29:40.440 is the year that we crossed the chasm for any 0:29:40.520 --> 0:29:42.520 number of reasons, but I think that bit when E 0:29:42.560 --> 0:29:45.480 t F also really helps that it helps legitimize it, It 0:29:45.400 --> 0:29:47.360 It helps people be able to get access to it 0:29:47.480 --> 0:29:51.080 very easy, and and maybe just in their mind, a 0:29:51.120 --> 0:29:53.120 lot of people that were skeptical on the sidelines might 0:29:53.160 --> 0:29:54.760 look at it as like, well, dang, I guess it 0:29:54.880 --> 0:29:57.320 might be a real asset. I don't know if you 0:29:57.360 --> 0:30:00.040 think I'm on some on something there, Justine, I I 0:30:00.400 --> 0:30:03.280 think we agree on this pretty pretty on point. Um, 0:30:03.400 --> 0:30:06.560 I I'm with you. Like this. To me, it's like, Okay, 0:30:06.600 --> 0:30:09.240 that's cool. I'm not personally excited about it, but I 0:30:09.280 --> 0:30:13.960 do agree that I think that there is a there's 0:30:13.960 --> 0:30:16.320 an aspect of adoption that's going to take time, and 0:30:16.360 --> 0:30:19.440 Bitcoin by some folks is seen as a specific thing. 0:30:19.520 --> 0:30:22.200 They don't understand it. It seems like some sort of 0:30:22.240 --> 0:30:25.880 strained tech technology that people they don't like must use it. 0:30:25.920 --> 0:30:28.640 You know, it's must be used for illegal activity because 0:30:28.640 --> 0:30:32.560 you know, the dollar isn't right, um, sark hasn't there. Um. 0:30:32.640 --> 0:30:34.600 But yeah, I think that this will be a huge 0:30:35.200 --> 0:30:39.280 turning point for many people. It legitimizes it, as you say, 0:30:39.360 --> 0:30:41.760 I mean, I have family members who are sort of 0:30:41.760 --> 0:30:43.600 stuck in this hole. I've been talking to him about 0:30:43.640 --> 0:30:46.080 it forever. I thought I had it for a minute 0:30:46.080 --> 0:30:47.840 where they kind of saw it, and then they've gone 0:30:47.880 --> 0:30:50.080 back to, oh, well, you know, I'm not sure the 0:30:50.080 --> 0:30:53.280 technology is weird. You know, it's it's like this underground 0:30:53.560 --> 0:30:56.840 dark web thing, and so you can't you can't think 0:30:56.880 --> 0:31:00.240 of bitcoin that way anymore once we get to sort 0:31:00.280 --> 0:31:03.120 of et F stage. In my opinion, um so, I 0:31:03.120 --> 0:31:05.360 think that from that standpoint, it does help and it 0:31:05.400 --> 0:31:08.480 will allow more people to you know, have access to 0:31:08.520 --> 0:31:12.720 bitcoin and have the benefit from it in one one way, 0:31:12.760 --> 0:31:15.160 shape or form. I personally hope that that's just the 0:31:15.160 --> 0:31:17.560 beginning of their journey because I think that everybody should 0:31:17.560 --> 0:31:19.400 be holding the keys to their wealth, because that's the 0:31:19.400 --> 0:31:22.080 goal here, right, like to really be sovereign in your wealth. 0:31:22.240 --> 0:31:24.720 But I think it's okay to start somewhere that maybe 0:31:24.760 --> 0:31:26.800 doesn't look like that, and this may be the first 0:31:26.960 --> 0:31:29.320 stepping stone for many, which I think is is good. 0:31:29.320 --> 0:31:34.040 So I agree, big thing happening. Me personally, not personally 0:31:34.080 --> 0:31:36.600 excited about it for me, um, but I do I 0:31:36.640 --> 0:31:38.160 do see the value. It's one of those things like 0:31:38.200 --> 0:31:42.760 it's good for bitcoin. Even if myself doesn't personally benefit 0:31:42.800 --> 0:31:44.719 from anything, it can be good for bitcoin. It can 0:31:44.760 --> 0:31:47.040 also be bad for bitcoin. So I think there's actually, 0:31:47.080 --> 0:31:49.520 in my opinion, there's actually probably more. I think there's 0:31:49.520 --> 0:31:52.520 maybe actually more bad for bitcoin than good. So the 0:31:52.560 --> 0:31:54.400 good is obviously, as I said, like getting over that 0:31:54.440 --> 0:31:56.680 mental chasm, and I think so I think just changing 0:31:56.720 --> 0:31:59.600 the public perception, I think is good. Um In in 0:31:59.760 --> 0:32:02.720 other countries, in Canada and countries in Europe, Um, they've 0:32:02.720 --> 0:32:05.239 already had e t s for bitcoin. The thing with 0:32:05.240 --> 0:32:07.160 bitcoin with e t s, and there's two types of 0:32:07.200 --> 0:32:08.520 e t f s, and so one of them is 0:32:08.640 --> 0:32:12.080 physically settled, so that means that I'm betting that price 0:32:12.080 --> 0:32:13.959 of bitcoin goes up and down, and depending on if 0:32:14.000 --> 0:32:15.560 I'm wrong or right, I either have to give them 0:32:15.600 --> 0:32:18.040 bitcoin or they give me bitcoin that's physically settled. The 0:32:18.080 --> 0:32:21.240 other one is cash settled, which means that I don't 0:32:21.240 --> 0:32:23.520 actually buy the asset or sell the asset. I'm only 0:32:23.600 --> 0:32:25.760 just making a bet, like it's like betting on a 0:32:25.800 --> 0:32:27.240 base on a baseball or football game, and I just 0:32:27.280 --> 0:32:30.440 have to pay you the cash. And what in the US, 0:32:30.640 --> 0:32:34.920 they've denied every single future or physical settled e t 0:32:35.080 --> 0:32:36.680 F and so the only thing we have now is 0:32:36.720 --> 0:32:39.320 a cash settled in the problem that we have is 0:32:39.360 --> 0:32:42.600 that you know, you can have these here these economics. 0:32:42.600 --> 0:32:44.280 Before you came on, Justine, we were talking about Steve 0:32:44.320 --> 0:32:48.280 Hanky and his theory which is just insane. But in 0:32:48.280 --> 0:32:51.240 the real world that all all prices set off supply 0:32:51.320 --> 0:32:54.520 and demand, and so if there's more demand for bitcoin, 0:32:54.560 --> 0:32:56.800 then there is supply, the price goes up. It's pretty simple. 0:32:57.080 --> 0:32:59.440 But the problem is that, um, maybe let's say that 0:32:59.440 --> 0:33:01.800 you're a hedge fund institution that had a billion dollars 0:33:01.880 --> 0:33:03.440 or a few billion dollars that you want to put 0:33:03.440 --> 0:33:05.920 into bitcoin, and you can put that into bitcoin, or 0:33:05.960 --> 0:33:07.560 you can put that a few billion dollars into a 0:33:07.840 --> 0:33:10.400 just betting on the price of bitcoin. And so what 0:33:10.440 --> 0:33:14.400 it does is it it takes artificial supply. So it's 0:33:14.400 --> 0:33:16.400 almost like increasing the supply. So instead of buying the 0:33:16.400 --> 0:33:18.640 bitcoin and taking that that's that bitcoint of the market 0:33:18.680 --> 0:33:21.040 and increasing the demand, you just bet on it with 0:33:21.080 --> 0:33:23.040 the same amount of money. And so I think I 0:33:23.080 --> 0:33:26.120 think that in itself is a net drag. It changes 0:33:26.240 --> 0:33:29.719 this uh, this this demand curve. UM. So I think 0:33:29.760 --> 0:33:31.880 that's the problem. And uh, I hope that at some 0:33:31.880 --> 0:33:34.000 point they'll have a physical settled one. UM they keep 0:33:34.000 --> 0:33:36.200 denying them. UM, So I think it could be bad 0:33:36.240 --> 0:33:38.720 from that perspective. UM. But yeah, I don't know any 0:33:38.720 --> 0:33:41.520 thoughts on that. No, I I agree with you there, 0:33:41.640 --> 0:33:43.840 that's kind of UM, I guess what I was alluding to. 0:33:43.920 --> 0:33:46.600 And I don't personally think it's good from my perspective 0:33:46.600 --> 0:33:48.640 for me, if that makes sense, I don't like the 0:33:48.720 --> 0:33:53.520 idea of UM essentially, like you mentioned, betting on assets 0:33:53.560 --> 0:33:56.720 that aren't there or can't be a guaranteed or there. 0:33:56.880 --> 0:33:59.479 I think it's it's hard dynamic because bitcoin is kind 0:33:59.480 --> 0:34:02.400 of the first asset that we have that is fully auditable, right, 0:34:02.480 --> 0:34:05.880 Like I think of like gold notes, um, And this 0:34:05.920 --> 0:34:07.680 is what in my you know, as as a previous 0:34:07.680 --> 0:34:10.040 gold holder, I wanted physical gold. I don't want to 0:34:10.040 --> 0:34:12.040 note that says that maybe you have some somewhere, and 0:34:12.040 --> 0:34:14.319 I don't want to bet on on gold. I want 0:34:14.320 --> 0:34:16.439 it if it's an asset that I hold my wealth, 0:34:16.440 --> 0:34:18.000 and then I want to physically have it. But not 0:34:18.040 --> 0:34:20.879 everybody is sort of in that mentality. UM. I think 0:34:20.920 --> 0:34:23.320 it's interesting with bitcoin though, because we can't audit bitcoin 0:34:23.480 --> 0:34:26.040 very easily. How does that work? How does that work 0:34:26.040 --> 0:34:28.640 in this future's betting world? Like how does it look 0:34:28.640 --> 0:34:31.360 different or does it fall into those same traps and 0:34:31.360 --> 0:34:33.759 and downfalls of it in the past, in the in 0:34:33.800 --> 0:34:36.319 the legacy world. So I'm not sure I want to 0:34:36.800 --> 0:34:40.520 have a huge opinion on it. I do have some concerns, 0:34:41.040 --> 0:34:43.000 but then also at the same time sort of see 0:34:43.040 --> 0:34:45.279 the benefit of it getting to that point from an 0:34:45.320 --> 0:34:48.520 adoption standpoint. But I don't know, I don't know what 0:34:48.520 --> 0:34:49.880 it looks like. I guess it's a good way to 0:34:49.880 --> 0:34:52.600 put it in a world where you can't audit the asset, 0:34:52.840 --> 0:34:55.239 but you're just betting on on what it may or 0:34:55.280 --> 0:34:56.879 may not do or so forth, or what it will 0:34:56.920 --> 0:34:59.799 look like in the future. Um so, yes, I'm I'm 0:34:59.800 --> 0:35:02.680 a little I'm a little sworn on this one specifically. 0:35:03.280 --> 0:35:06.040 Um yeah, yeah, so I think we we aligned pretty well, 0:35:06.080 --> 0:35:09.240 good and bad, good and bad, you know. And and futures. 0:35:09.280 --> 0:35:12.200 Futures were really designed for for farmers. And I didn't 0:35:12.239 --> 0:35:13.600 know what my crop was going to be like in 0:35:13.640 --> 0:35:15.319 the future. I didn't know how much oil is gonna 0:35:15.320 --> 0:35:16.560 produce in the future. And so what I could do 0:35:16.600 --> 0:35:19.000 is I could hedge with the futures, and I could 0:35:19.040 --> 0:35:21.359 sell my crop at this fixed price today, and that 0:35:21.400 --> 0:35:25.160 way I d risk UM. And it's also for things 0:35:25.160 --> 0:35:28.360 that are difficult to UM take custody of. So to 0:35:28.400 --> 0:35:31.560 your point, Justine, so UM futures are great for commodities 0:35:31.600 --> 0:35:34.360 like wheat or oil or gold that are very hard 0:35:34.880 --> 0:35:37.160 or almost impossible to take delivery of it. In the 0:35:37.160 --> 0:35:40.640 March of Saw, the oil price dropped to negative thirty 0:35:40.719 --> 0:35:42.359 five and the reason why I went to negative thirty 0:35:42.360 --> 0:35:44.000 five is because you have to take physical delivery and 0:35:44.000 --> 0:35:46.759 nobody wanted to take physical delivery of it. And so 0:35:47.000 --> 0:35:48.960 UM futures are great for those types of things. But 0:35:49.040 --> 0:35:52.400 for bitcoin, it costs zero dollars to take custody of 0:35:52.400 --> 0:35:54.839 your own bitcoin. That's that's really the killer app of it, 0:35:55.160 --> 0:35:58.960 and so UM hopefully that changes things. Hopefully people would 0:35:59.000 --> 0:36:02.160 rather just take custody of their bitcoin UM as opposed 0:36:02.200 --> 0:36:05.360 to you know, oil or wheat. It's very difficult to 0:36:05.360 --> 0:36:08.920 do that UM, and so hopefully that will change it. 0:36:09.600 --> 0:36:12.319 Of course, just throw a little bone for Justine while 0:36:12.360 --> 0:36:14.080 she's here with me, thank you for coming on. And 0:36:14.120 --> 0:36:16.520 she works with unchained Capital, which is a multi stick 0:36:16.560 --> 0:36:19.000 setup that I used to secure my bitcoin UM and 0:36:19.000 --> 0:36:21.760 so it makes it super super easy too to secure 0:36:21.800 --> 0:36:24.239 it UM but those are the big stories I guess 0:36:24.280 --> 0:36:28.960 that I'm thinking of for for bitcoin, UM will continue 0:36:28.960 --> 0:36:31.440 to see the network growing. I mean elsal it are 0:36:31.480 --> 0:36:35.560 brought on millions of people alone. UM and UH we'll 0:36:35.560 --> 0:36:38.680 continue to see that the development on the network growing. 0:36:38.719 --> 0:36:41.560 We saw Jack Dorsey leave Twitter to go work on 0:36:41.800 --> 0:36:44.920 bitcoin specifically, and UH we'll come back next week. We'll 0:36:44.920 --> 0:36:47.480 talk about what to expect. For two. You're listening to 0:36:47.520 --> 0:36:51.040 the Mark Moa show talking about bitcoin. We're talking about cryptocurrencies, 0:36:51.040 --> 0:36:54.120 We're talking about the de centralized revolution. I've been in 0:36:54.160 --> 0:36:57.719 the studio with Justine Harper, Miss Justine, I'm sorry at 0:36:57.760 --> 0:37:02.000 misshotel on Twitter for unchained capital. Justine, thanks so much 0:37:02.000 --> 0:37:04.480 for coming by and hanging out. Thank you for having me. 0:37:04.600 --> 0:37:06.719 Look forward to it next time. That's what I got 0:37:06.760 --> 0:37:08.680 for you today. Thanks so much for listening. To see 0:37:08.680 --> 0:37:09.120 you next time.