Big Stock Drop

plenty of stuff to talk about. There's a quote that I often use because every day I'm reminded of how real it is. And it's by somebody who I shouldn't be quoting, but Vladimir Lenin from Russian history, who was infamously, you know, a bad ruler. Let's just let's just leave it at that, um, But he said that there's decades where nothing seems to happen, and then there's days where decades seem to happen. And that's about where we're at. And Uh, in the financial market, it's the fed um

raising rates again this week. Um. You know, how high will they continue to raise rates? The markets are crashing? How will they how far will they continue to crash? Um, the cryptocurrencies are marketing markets are melting down, Will they disappear forever? Will they still be there in the future? Is now a time to buy the dipper? And I mean there's just a never ending amount of things to talk about, and so I appreciate that because it gives

me lots of things to talk about. And uh, you need to be paying attention more than ever before, because we don't know what's going to happen. Um, it's more uncertain than it's ever been. We have we have we have land mines, we have potential triggers all over the world. And if we start on a big macro scale and then get down into more of like what I would

consider macro, which is like a micro. Now, if we start really big, I mean, we got three potential nuclear situations that we're dealing with between Russia, between between Israel and Iran, in between Taiwan and China, three and and make it all happen in the next like six to nine months. That's like that close. So that's really big. We have we have the European Union about the break

up with countries going bankrupt. We have credit suites about to blow up, which could take Italy, Malta, Spain, Portugal, Italy, um, Greece with it. That's bad. Um. Japan is about to have to start dumping US treasuries m or have its currency completely blow up, which would then pull the US down. UM. So hopefully I'm not depressing you too bad. But in that backdrop of that, macro, of course, bitcoin and cryptocurrencies are taking a hit as well as US stocks are.

The Nasdaq is down, the SMP five hundred is down. The SMP five hundred is holding up pretty good because of one company, So the sp five hundred is weighted, and the biggest company in there, which is Apple, that makes up the biggest chunk of that weight, has been holding up pretty well. And because it's holding up pretty well, keeping that up with it. But don't let that fool you.

Dangerous there. And of course, like I said, the cryptocurrenc space space, which is way more volatile, including bitcoin is uh is barely hanging on and a lot of people have been asking me where where will bitcoin and go should I buy now? How far will it go down? The answer is we don't know. That's the answer. We don't know. What we can do is we could try to look at a bunch of different indicators and tools. We can look at history, and we can try to use it as a guide. So let's look at that

a little bit of history here. So what we can see is that throughout throughout pitcoin's life over the last dozen or so years, it's been volatile. You know that. You know that already. You hear that all the time, right, it's volatile, volatile, volatile. So it goes up and down. Now that's a good thing. That's a good thing. Um, if it wasn't volatile, volatility works both ways, goes up and down. So how would it go from zero to what's it at? Now? How would it go from zero

to twenty one if it wasn't volatile? And then the answer is it wouldn't. It would just be at zero. And so it's a good thing. Um, but if you're staring at on a short term basis, it could be dangerous. And so if we look at that, we can see that there's been some big crashes throughout its history. And a matter of fact, um, well, I thought we'd look at some of the biggest ones in history. Now, the biggest one in bitcoin's history doesn't really count in my opinion.

It's like an outlier. I want to kind of remove it. But that's in two thousand eleven. So bitcoin had just got going, um, and it went from two dollars all the way to thirty dollars, all right, and it basically was worth an ounce of silver, which was a pretty big deal for something brand new, all right. But at the time, there was no industry, right, there was no there was no coin base, there was there was no place to get it. There was one exchange, and it

was Mount Cox. You might have heard about Cox before it famously blew up. People lost a lot of money. It was the largest bitcoin exchange in the world, and they admitted that criminals had hacked hundreds of accounts and stole millions of dollars with the bitcoins in a single day. And the value bitcoin fell to a one penny to a penny, So that was pretty bad and it was then dropped down. But like I said, that's kind of

like an outlier. Bitcoin had just got going. It was only worth two bucks, um, you know, basically, um, you know, millions of bitcoins were stole in a single day. The only exchange there was crashed. UM. Nobody knew what the heck it was and in the value fell. So that's kind of an outlier if we put that one aside, Okay,

then let's go from there. So then in August two thousand twelve, UM, we learned that there was a classic Ponzi scheme updated for the digital age, had been builking crypto investors for months, promising incredible returns of seven percent a week UM, and they had stolen over seven hundred thousand bitcoin at the time by by deception, and that caused bitcoin to crash by about fifty six percent. That's pretty big over half UM the big one. There's two

big ones, and these are ones that more relative. April two, bitcoin was the victim of its own success. Investors piled in. This is when I had first caught my eye. I saw a bitcoin going up, up, up, up, up up up UM, And this is the first time I caught my I was like, maybe I should buy it. I see it going up. I think this could be a big thing. Was new opportunity. Everyone was excited. They started a buzz in in in kind of like the not

mainstream media, but kind of underground media. UM trading was so intense that mount Cox couldn't handle the volume, and when it crashed, then hackers attacked the vulnerability and it forced mount Cox into an unprecedented total shutdown. Again back to early early days, one exchange, super fragile, no redundancy. Today,

if one exchange goes down, no big deal. There's fifty more, right, but then we can buy it on paypalen venmo, I mean, right, But back then there was one, there was no redundancy. So when it went down and sent prices from to sixty all the way down to fifty bucks, that was an eighty three percent draw down. December two, thirteen, UM China bandit one of the thirteen times that China has banned bitcoin. UM and China ban bitcoin at the end of and it lost fifty per cent of its value overnight,

according to the Guardian. UM, of course, like I said, it was like and of like thirteen times they've done it. As a matter of fact, in one they banned all bitcoin mining. Bitcoin mining went to zero in China and now it's back up to where it was before. So they just keep trying, but they can't stop it. UM.

Let that be a lesson, no no, no nation. Can stop it, and so it dropped fifty percent of the time from there from time, so we have besides the original outlier like had barely got off the ground, we have a fifty six percent UM when there was the big hack from the Ponzi scheme, when China banned it, three percent when again Mount Cox crashed and had this big hack because it was the only game in town. So you're starting to see a trend here. Then more

recent times, everybody remembers this. This one is the um. This is the biggest crash that we've had to date in history if we we if we get rid of that first one. And this is December, so this is when bitcoin really came onto the scene. I started buying it in so I got the benefit of I think it was about three hundred bucks when I started. I think the year started out seventeen about a thousand dollars, and by the end of that year had gone to twenty thousand. So that's a twenty x return inside of

one year, which is amazing. If you've ever been around investing, that is like unbelievable returns. It was like nineteen thousand and change. It broke every record. It peaked near twenty thousand, we also saw um the legitimacy of bitcoin because the futures exchanged. CIME brought out futures which then legitimized it. Um I started getting real mainstream press UM. But then a couple of things happened. As a matter of fact, in my opinion, it was a full on attack against bitcoin.

There was three powers that be that seemed to conspire and come against Bitcoin at the exact same time, and that caused it to crash. I'll tell you about those three things and how far I crashed and what we can learn from that as we look at the next

two crashes. Either the way you listening to the Markma Show, we're talking about the decentralized revolution, we're talking about bitcoin, cryptocurrencies and the market crash that's going on right now, and and we're looking at some history to get some perspective as to where things are going next. You don't want to miss it. I'm want to talk about that and more, and then we'll use that as a guy to see where bitcoin could go and is now a good time to buy or not? All right, I'll be

back with that and more in a minute. You don't want to miss it, so don't go away. I'll be right back. All right, welcome back. You are listening to the Mark ma Show, and we are talking about the decentralized revolution. That's right. We're talking about bitcoin. We're talking about cryptocurrencies. We're talking about the financial markets, and we're trying to make sense of it to know is the cheapest as expensive should we buy? Should we not? Is

it gonna go down further or not? And so much more. We're talking about, um, the biggest crashes in bitcoin's history. I'm not gonna go back through all that if you're not If if you missed it, I'm sorry. UM, don't miss it again. If you're not driving, bull ut your phone. Put a reminder for the state this time this channel. Make sure you're tuning with me each and every week. And if you missed it, don't worry. Don't worry. I got your back. Um. You can just catch it on

the podcast. Just search Mark Moss podcast. You can find on the iHeart Radio app, you can find on Apple wherever you get your podcast, check that out. And if you wouldn't mind, I would really appreciate a favor, and that would be whether you go listen to the podcast or not? What could you do me a big favor? You know, I'm out here working hard for you each and every week. If you would just go like it and leave me a good review, that would be greatly appreciated.

Small little favor. Thank you all right now, Uh, just for that, I'm gonna recap it. So nine in two thousand eleven nine draw it out. But that was because big when it just got off the ground, it was there was only one place to buy it. There was the biggest hack, stole all the money. Okay, but again the only exchange in town, Max Cox a Mount Cox was shut down. Um December China band it dropped. I was just at December. Now, I said that there was

three powers that be that conspired against it. So bitcoin had gone uh in a bull run sixteen and seventeen started January twenty seen a thousand, and by December it was just under twenty nineteen thousand and change. Now what happened is, um, I'm gonna come on. This is simple, right. Markets stopped going up when there's no more buyers. Simple markets also stopped going down when there's no more sellers. So as the prices were going up, up, up, up, Up, Up, Up.

It started sucking in more buyers, sucking in more buyer. Second, everyone's like, oh, I'm getting rich. I bought it at four thousand, now it's a six thousand. I bought a six thousand, now it's eight thousand, and everybody wants to jump in. We as humans, were very simple. We rushed towards pleasure and we run from pain. So everyone's getting rich. I want that pleasure on buying. And so as it's going up, it starts sucking in more people, more people,

more people. But eventually it starts running out of people to suck in. It kind of gets all the people that kind of believe in this tech and they're willing to take some risk and their investors, but it starts running out to people. But then the attack came. What's the attack? No, it's not the futures. What happened is simultaneously the new buyers, remember markets up went up with the new more buyers. The new buyers were taken out

of the system. How what does that mean? Well, if you don't hear about it, and you don't know about it, how would you buy it? And the answer is you wouldn't. And so we saw Facebook and Google simultaneously ban all advertising. So now you weren't allowed to talk about um bitcoin and cryptocurrency on Google or any of their properties, or Facebook or any of their properties. And so people were advertising and talking about it, and people were hearing about

and buying it. So there's new buyers coming in. But as soon as they took away the ability to talk about it and advertise it, then nowhere buyers. And then simultaneously the banks also attacked it, and so then no banks would allow you to transfer money to a cryptocurrency institution. They wouldn't let you transfer money, they wouldn't let you buy it off of your credit card, and so then

they made it where you couldn't put money. And so even if you heard about it, which you it through Facebook or Google, but you heard about it through through word of mouth, and then you try to buy it on your own, then the bank's blocked you. And it happened at the same time, so they took away the new buyers. And when you're going up at a certain trajectory and you're sucking in all these what we call weekends, so these are people that don't really understand what they're buying.

If you know if if you if you've been outside the country and you've seen the problem that the financial system is caused, and you see how bitcoin can solve that. You're a long term holder, right, um, you understand the value proposition of bigoin. But if you only bought because somebody told you if you buy it today you can make on it, then we call that a weekend. You

don't know what you bob. And so what happens is if if we start running out of buyers, they take away the ability to talk about it, advertise and put money into it. But then it starts going down. As soon as it starts going down, all those people that bought at the top the weekends that doesn't know what they're buying, they sell. Wait a minute, I was told I was gonna get rich overnight. I was told I was gonna make a thousand percent of my money and

I didn't, and now I'm actually losing money. I don't like this, and they start selling. And so just that's why markets get parabolic at the top, and they also crashed really fast at the top. All those weekends that came to the top that pushed it higher are the ones that sell the top and push it back down, and that's exactly what happened, and bitcoin ended up going

down eighty four from there. That was fun living through that, not really, but actually it led me to you, So, UM, when they when, when we were when when they stopped us from any doing any doing act, doing any advertising for a bitcoin and cryptocurrencies. UM. Then in I started a YouTube channel, and actually my business partner at the

time UM had started a YouTube channel. I was doing videos with him, and then eventually mid two thousand eighteen, I started a YouTube channel, which is now led to me having a podcast and me being on the radio talking to you right now. So UM, I guess, you know, I guess it worked out for us at the end. But anyway, it got really boring going through that process. It dropped and then we saw UM eventually hit the

bottom and started climbing back up. And then there was another big crash, and this was March is when the pandemic broke out. The pandemic broke out and the all the markets crashed. I mean, they shut down the entire economy, right, They took away people's businesses and livelihood and the entire market crashed, and of course bitcoin crashed as well, and

Bitcoin crash fift. Now, something to keep in mind here is that when the when the stock market started to crash, the SMP five, the NASDAC, et cetera, which of course they're crashing because they shut down the whole world economy. UM, they use something called circuit breakers. I don't know if you've ever heard that before. Basically, what the circuit breakers are is it's like a it's a it's part of

the plunge Protection Team. I don't have you ever heard of that before, the p p P Plunge Protection PPT Plunge Protection Team. And basically UM, it's a team that protects the markets from plunging too fast. If you can believe that, UM and so UM, then they trigger the circuit breakers. But the markets dropping too fast, it trips a circuit breaker, and it basically stops all trading, is what happens. And so UM I think in March, don't have it in front of me, but I believe, I

believe it happened seven times. Seven times they had to stop UM the stock markets UM from from going down, and it's still dropped thirty five cent. Okay, Now, Bitcoin didn't have any circuit breakers there was no plunge protection team,

nobody was stopping it, and UM. The story is is that one of the big exchanges where you could go short on it UM with leverage bitmax at the time, UM it actually UM some of the bots that we're doing this automatic trading, we're stuck shorting it and and uh the system froze up and they couldn't go in and close them. And I believe someone had to actually do a D D O S attack against bit mex to take it down and get those bots from shorting it UM, which was pretty interesting. And so UM had

had definitely had extreme circumstances UM. But if we ignore the circumstances, it drop no plunge protection team, no circuit breakers, may have dropped fifty and that brings us to today. So uh, here we are today and we have UM. We are down about seventy percent from the high as of right now. So how much further could it go? Well, the worst that we have in history. If we take out that original one from when it first started UM, then that means potentially we'd go back to the worst

that we've ever seen. Would we go back down to UM eighty UM eight? That would push us down to about ten and a half, maybe eleven thousand ish if we went down that far, but I don't know if we will. UM. We have a couple of other indicators that can help us figure this out. I'm gonna tell you about that in a minute. Where the floor is on this um, where maybe some good entries are and some things like that. UM. I'll be back with that in two more. In a minute, you're listening to the

Mark mo Show talking about bitcoin, cryptocurrencies and the decentralized revolution. UM, and I'm gonna come back and tell you where I think the price point is for bitcoin, that and more. Don't go away, I'll be right back. All right, Welcome back. You are listening to the markma Show. We're talking about bitcoin, We're talking about cryptocurrencies, we are talking about the decentralized revolution,

and I'm specifically talking about bitcoin crashing. We just went through the history of the biggest crashes that we've seen in bitcoin to date, and then we're comparing that to where we are so UM, as I said, really, if we take out the one outlier. Right when bitcoin got started, there was only one place to buy it. It It got hacked and there was a huge hack, and and so

we take that one out, we take that out. We had an eighty three percent crash in UM when the exchange crashed again, and then we had one in UH that was eighty three percent, and then we had an eighty four percent in December of twenty seventeen when the banks took away the money and UH the social media platforms took away the ability to UM advertise it. So eighty four percent is the worst. Besides, I said that

that very first outlier. So if we go back to from the high today, as I was making the case that puts US, I'm kind of looking at the chart that puts US at approximately about hundred. So I'm not saying it's going to go down there, but I'm saying that would be the worst ever, which is about another you know, fifty drop from here, which isn't super fun. Now, we don't know that's going to be the case. We

have no crystal wall. A better way to look at it is that there's something called a two hundred moving age weekly moving average, and so what it does is it takes the price UM and it looks at it over a four year period, which is an interesting time frame. Because bitcoin has a having cycles for every four years, it the the amount of new bitcoin being produced every day gets cut in half. The supply cuts in half, so supply and demand. If the demand stays the same,

it's supply gets cut in half. What happens to the price, it goes up, right and so UM, the two weekly moving average moves long without four year time frame. And when we when we zoom out and we look at bitcoin, UM, it's only gone through this two weekly moving average UM like twice and just very very briefly, so it looks like back here in it just kind of barely dip below it for maybe two candles UM. Then of course March of we just talked about that it did dip

below that UM. As a matter of fact, it went down about thirty below it, but only for only for just one week, as as it bounced back up pretty quickly. UM. And here right now today we're sitting right on that two hundred weekly moving average. So historically speaking, it has been the best to buy an opportunity to buy in

at that price. Now, we don't know if history repeats, as as any financial advisor will tell you, and I'm certainly not one, but any financial advisor would tell you that to pass performance is no guarantee of future so we don't oh that. But like I said, it's been a what what some people call uh generational buying opportunity. I think it's a little bit too much hype for me to use, but it's traditionally been a very good point. Now, you know, records are meant to be broken, So could

it dropped below that? It certainly can, but it looks like it has massive amounts of um of interest there. Whenever it gets down to that level, people are just buying it up like crazy, and so that's what we're seeing. Um. But at the same time, we've never really been we've never seen bitcoin in this current market environment that we're in today. And so what do I mean by that, Well, bitcoin has only been around since two thousand nine, and since two thousand nine, we've been in a long term

secular bull market. That means the markets have just been going up since two thousand nine. Now, there has been some dips, don't get me wrong, but those are called cyclical dips. So there's are short term dips inside of

a long uptrend mark it. And so bitcoin has only been around for that now we don't know, but it looks like there's a good probability that we could be going into a long term secular down trend market and we don't know how Bitcoin will respond in that, and so we don't know, and so trying to use this as history, Um, it doesn't guarantee anything, and it definitely doesn't guarantee anything at all. But like I said, it's it's sitting at the support, which is historically been a

pretty good place to buy. So anyway, UM, the other cryptocurrencies, you know, they're kind of following that now. Most of the big, big name ones are down even worse than that, if you can believe it. It looks like a THEORUM is sitting right on that weekly two moving average as well. UM, So you know, we'll see what happens here. It's been a good day for the stocks. We saw that pretty much the entire stock market, the ones at least I'm looking at are in the green, meaning they're up UM.

And it's weird because they rallied off of the Fed's announcements. So the FED came out and announced today that they are raising rates UM by a whole whopping zero point seven. It's not so much how big the raise was. It's more about the percentage gain of that raise. And UM, what's interesting is that they're doing this to try to calm the markets, to make pretend like they have some control over that, which of course they don't, and it looks like they're losing control because of the way the

market responded to it. And so it was interesting when they raised rates, which they're supposed to or they're hoping to crush the market or crash the market because of that, UM, it actually responded the other way. And actually what happened is the markets went up. We saw gold go up, we saw bitcoin go up, we saw stocks go up, we saw the dollar index go down, which is very interesting and it almost means that the market doesn't believe eve that the Fed has control. And that's that's exactly

what I'm seeing here. UM. Love to hear what you think. UM, if you're not following me on Twitter or on social media at all, you can find me on Instagram and on Twitter at the number one Mark Moss. That's just the number one numeral, the numeral one not spelled out, but hit me up on there let me know what you think. I'd love to hear what you have to say about that. But it's interesting, Um, if we look

at this, you know, they're trying to tackle inflation. Supposedly, I say supposedly they are, and and that's because inflation continues to run hot. Now, UM, I talk about this all the time, so I'm sorry, but it's not the definition of inflation that I typically go with or what the Austrian economists would think of inflation. But they're talking about prices going up, and so prices are going up at the highest rate we've seen in forty years, which

goes back to the eighties. Now, it's interesting if you break that down because we have inflation and they just CPI consumer price inflation came out at eight point six, so we haven't seen that high of CPI since the eighties. Now. It's interesting though, because in the eighties we measured CPI

completely differently. So the way cp I is supposed to work is that you measure if I went to the grocery store and bought a basket of goods and I had a steak and milk and cheese, and then every single year you measure that t bone and the pound of meat. You know, it's t bone and cheese and milk. And every year I went back to the store and I bought the exact same thing, and you measure the price over time. But what they do is they change the basket, so they continue to change the basket to

manipulate that number lower. There's a company called Shadow Stats that tracks it like they started out tracking it. Now their number comes out at over seventeen percent inflation. So they say it's the highest we've been in seven in in forty years, um. But that's with their manipulated down number. The reality is is that we are more than double where we were forty years ago, which is pretty interesting.

I think it's pretty easy to see all we see and here is the talk of inflation, inflation, inflation in my limited amount of market research, let me know if I'm wrong, But in my limited amount of market research, UM, talking to my parents and some other old people that were around, and remember back then, they don't remember it being as big of a deal as it is today.

And so at that time, Paul Volker, he was the FED chair, he decided to get crazy and he was going to raise interest rates so high that he was gonna get in front of it. And he did. He took interest rates from ten percent to twenty percent. If you can imagine that inside of about three years, I believe it was does a hundred percent increase and within a couple of years. But the Fed they've done more.

Now I get it's only zero point to five, but it's the percentage of change, and we're looking at about a hundred and fifty percent increase in months as opposed to a hundred percent increase in years. Now, imagine if you're borrowing, costs shot up by a hundred percent a hundred in months, and that's where AT's the percentage that matters. Hopefully that makes sense. You're listening to the Mark Mo Show.

We're talking about the decentralized revolution. We're talking about bitcoin, we're talking about cryptocurrencies, and we're talking about the greater macro markets that are affecting um all our investments, our money, and ultimately our livelihood. It's insane that somebody, um Jerome Pale, the phederal Reserve has the power to increase the money supply and make us feel wealthy and take it away and make us feel poor. And that's exactly what they're doing. Um,

I'm gonna come back. I got a lot more to cover in a minute. You're gonna want to hear it. All right, welcome back. You are listening to the Mark ma Show, and we are talking about the decentralized revolution that is changing the world as we know that. We're talking about bitcoin and cryptocurrencies, the markets, and politics and finance and technology and all these good things that you want to know about if you're trying to make context of what's going on in the world today. We're talking

about bitcoin and and the dropping prices. We covered some of that, and you know what's inter I call this the decentralized revolution. So I talked about the world is like on a pendulum, and it swings back and forth on a two or fifty year time from and it swings towards centralization, globalization, and then it pushes back and swings to decentralization. Two or fifty years ago, the American Revolution pushed back on the centralization of the monarchy and

set up a decentralized government. Of course, the United States was a republic. Two or fifty years before that was the Protestant Reformation, which saw the push back on the church and state. And here we are again pushing back on the centralization that we can see from the world economic form and health organization and on and on and on. But it's changing a lot of things. And uh, kind

of like software changed everything. It to software rate the world, they say, right, and um, it changed the way that we consume content. It changed the way that we communicate. It wiped out books and music and movies and so much more. And now we're seeing bitcoin and this decentralized technology doing the same thing. And it's pretty amazing to sit back and watch, and it's it's happening so fast that it's starting to make governments look incompetent any relevant.

And the more they try to fight this, I think, the more incompetent and the more irrelevant they look. Now you may think this is a bad thing. I particularly think it's a good thing. So let's let's take a look at that. So some of the things that I'm looking at. So obviously with bitcoin, that's that's an easy one. We'll talk about that for a second. I'm gonna talk about another one. But obviously with bitcoin cryptocurrencies, um, we have now used software to have a way that we

could store value. All right, I think bigger than just money in dollars. We now have a software, cryptographics, software that allows us to store value in a way that can't be stolen. And if I want to transmit it to somebody, nobody can stop it, block it or prevented. And its code. And now we've seen over in the EU they're trying to pass bills that say you can't self custody your own bitcoin or cryptocurrency. In the United States,

people are talking about it. We haven't gotten to the point where they're really trying to do that, But think about this. It's cryptography. It's code. Code is ones and zeros, it's code. Now, the United States tried to outlaw cryptography at one point, they went to the Supreme Court, and Supreme Court said, no, you can't outlaw this. It's protected under free speech because look, it's code. They printed out, it was on paper. How can you ban free speech?

You can't um And so it's already been upheld by the Supreme Corporate, of course, and other nations they could do it, and maybe you know who knows. The United States are trying to get around Constitution every chance they get these days. But think about this with bitcoin, of cryptocurrency. I can store my my value cryptographically and all I have to know is twelve words in my head. I could store one dollar, a thousand, a million, a billion, however much I had, and I don't need any device,

I don't need any piece of paper. ALL need to know his twelve words in my head for the code for that cryptographic key. So is the government going to make it illegal for me to memorize twelve words? I mean, think about the insanity of that. They're gonna make it least so now so now, nope, you can't know those twelves. You can know other things, you can remember other things, but you can't know those those those words, like how how does that work? I mean the insanity of it.

And so when you start to see governments trying to pass laws that say you can't know certain words in your head, they start to look irrelevant and incompetent. Now you may think that's a bad thing, maybe if you're a statist and you think the government should have complete control over us. I'm a freedom maximist. I believe in freedom. I believe that everything in life has a trade off, a cost benefit, all right, And so um tools can be used for good and bad. Look, tools can be

used for geod and bad, and they do. Um. Baseball bats they're used for lots of good, lots of kids have fun, I mean pro sports, playing baseball, and sometimes they're used as a weapon and they really hurt people. Does that mean we should ban all baseball bats? Of course, the answer is no. And so we could look at the money. Um, should we make it where no one is allowed to hold their own wealth in a way

that the government can't steal it from them? Now granted, okay, I mean some people, some terrorists I guess, could use money to do terrorists things. But should nobody will be allowed to hold money where the government can't steal it because maybe potentially a couple of terrorists might use it in my opinion, of course, the answer is no. You know, terrorists don't just use money to do bad things. They also used cars to drive around. They also use phones

to communicate. I bet they even eat food and drink water. Should we ban all those things too? And of course that's ridiculous because of course no, we're not going to ban food and water. Why because the benefit of food and water so much greater than the risk, and so we have to look at things like that, and so I think that people should be free to do what they want. Um, now we have something else. Now we see in the United States there's an attack on guns,

but that's also been digitized. And so now we have three D printed guns. And with these three D printed guns, now it's code. I can know the code in my head. They want to ban, they want to ban me having access to that, but I can just memorize it and I could just give it to somebody else. And now we have a three D printer that can print those. And there's an article that just came out was pretty interesting. Then a YouTuber three D prints the world's first rocket launcher. Wow,

three D printing is revolutionized. Gun making has come a long way since a single shot liberator pistol was available for downloading. Now entire sematic pistol carbines can be entirely printed at home. And now it's graduated to rocket launchers. That's pretty amazing. Now rocket launchers could be good, used for good and bad. I suppose, Um, I mean, I guess it's kind of dangerous. You wouldn't want those end

up in the wrong people's hands. But how do they stop it, and this is only going to continue, and this is the point. Um, And it's just interesting, and I don't, I don't, I don't know where I stand on this. Um. I certainly wouldn't want a bunch of guys just having rocket launchers, um, if they wanted to use those for bad But I suppose those same bad people could just get a car and drive it through a crowd. And those same bad people could go to the hardware store and get all the pieces they need

to create, you know, a massive explosive. So I suppose if somebody wants to inflict pain, there's lots of ways they could do it, and they can't really stop it anyway. Um. Again, I'm not here to uh to really take sides on this, but I think it's interesting. I am taking sides on the money. You know, when the government tells you that you shouldn't do drugs, it doesn't make you want to

do drugs. But when the government tells you that you don't have the right to store your wealth in a way that we can't steal from you, it makes me want to do that. Just like in the United States, every time they start talking about talking about banning guns, gun sales go up, and so UM, I think it's interesting. I think the more they try to um squash it, the more, like I said, irrelevant. They look. I mean, look at what they've done with the war on drugs.

For the last forty years now, fifty years now, they've been trying to fight this war on drugs. Trillions of dollars have been spent trying to fight this war on drugs. And drugs have to be grown and cultivated, and they have to be processed and packaged, and they have to be shipped, and they have to be smuggled, they have to be distributed in all these things, and they can't even stop that. They can't even stop them from going into a prison. How the heck are they gonna stop

bitcoin that's completely digital and anonymous and transparent. The answer as they can't, and they won't, and I believe they don't even want to. And I've covered out before. You can go back into my um you go back into the podcast, and you can look. I spent a couple of weeks on the podcast going through every single talking point of why bitcoin won't work. They're gonna make it illegal. They want to make it illegal. They're gonna crash it,

on and on and on. Um, And I answered, though, so go check out the podcast if you want to know, um all my reasons for why that won't happen. And of course I'm a believer in bitcoin. But one of the things I love about bitcoin is it solved the oldest problem in history, the oldest problem since man was first on the earth, is how do I store my property in a way that can't be stolen? That's it. So we we made a tribe, and we made a village, and we made a kingdom, we made a country to

protect our private property. But now I can remember twelve words in my head, and so I believe it's the most revolution stary thing we've ever seen. You listen to the Markma show talking about the decentralized revolution. That's what I got for you today. All right, thanks so much for listening.