Performing Surgery With a Chainsaw

the decentralized technology. As we talk about that. Now, I try to bring to you some education so you can understand exactly what's going on in the marketplace today. Try to bring to you the latest breaking news so you can stay up to date on everything. I want to make sure you're prepared for all those conversations you're gonna have at those weekend cocktail parties, of course, so you look like you're really smart. Don't worry. I got your back.

And then of course I bring to you some interesting guests. You don't have to listen to me talk all the time. And right now we are looking at some of the biggest pieces of news that came out over the week, so you can stay up to date with what's going on. And so man, there is there is, there is no end to the amount of changes, the amount of news that's coming out, the amount of directions that we could go by this. But of course, um, it all starts

with the money. And if we start with the money, it starts with the central banks, as those are the central planners that plan how much money we have in the system. Of course, more money we have, the better things are. The less money we have the worst things are. Imagine that, right, not not hard to imagine that. And of course the central planners, the central banking the United States, the Federal Reserve Um headed up by Jerome Powell, has

been under fire lately. He has been testifying before Congress this week. They want to know what the heck he's doing to one combat inflation, because inflation is just way too high. Apparently they have a target goal of two percent inflation, meaning they only want to steal two percent in your wealth per year, but they are way over that. They couldn't get over that, and now they've gone way too far in their up at about eight point six

in almost nine percent. Of course that's their manipulated number. Real numbers probably about seventeen. But while the Federal Reserve is trying to bring this under control. They are destroying everything else. And so you know, the saying is, when all you have the hammer, the whole world looks like a nail. And when you're a central bank and all you have his money, then the only tool you can

do to stimulate and slow markets down is money. That's that's what they got, and so they can manipulate the markets through pulling out the money. The problem is that's not a fine too. It's not a finely tuned instrument. It's not a scalpel. It's like trying to perform surgery with the chainsaw, right, You're just you're just gonna take out big chunks. And it just kind of is what it is. And so while the FED is trying to tame inflation, and again all they have is money, they

have to pull the punch bowl back. Now they can't do it in little strides because they so overreacted trying to get the inflation of the inflation is so high. They have to do massive, drastic actions to get the inflation back down, which is of course they're doing, and they're destroying everything in its wake. So what do what do I mean by that? Well, if you haven't been paying attention it's kind of a complete blood bath out

there in the markets right now. We have mortgage rates in the real estate market have gone up more than a hundred percent, and like the last six months, more than a hundred more, they've doubled. Interest rates doubled. That's insane in in six months. I don't know if we've ever seen that much that fast. Um so um. That's a that's a that's what's called a leading indicator. When interest rates go up, guess what happens. Mortgage applications go down.

Not as many people apply for mortgages. When you don't have as many mortgage applications, guess what happens. Less homes get sold. When you have less homes being sold, or less buyers of homes, guess what happens. Prices come down. Right, So it's a leading indicator that tells us what will happen. Um. And so that's what you've got to look forward to. What else, Well, we got the markets. We have the Nasdaq, which is the index that tracks most of the stock positions.

The growth the tech positions is down massively. As a matter of fact, about over half of the positions are down by more than half a lot of the big darlians are down six percent, including Shopify. Uh. Including Facebook, Facebook's getting smashed um, and so many others are getting smashed um tech stocks. Even the SMP five hundred is barely hanging on by a threat of course Facebook. As in the SMP, it's mostly being propped up by Apple that is dealing with its own problems. And most likely

we'll see the SMP FI gets smashed down. I wouldn't be surprised to see that drop. I think we're down about twenty from their high right now. Maybe we see that get tot off of its high, which is massive. Is a bear market, so we're below that, And of course that brings me all the way around to where I'm trying to get to, which is the cryptocurrency markets. And of course the cryptocurrency markets have been completely smashed

as well. Bitcoin is off about seventy percent from its previous all time high so UM, worse than some stocks, better than a lot of well known tech stocks UM. But either way, it's still down by quite quite a lot. And of course the cryptocurrency market overall is down even more, with many positions down eight even plus and so UM. A lot of people are losing all the money there, at least on paper, right. So one of the things that that's trying to do is they're trying to alter

what they call the wealth effect. When your stocks or your home losers value even though you're not selling it, you just feel less wealthy and so um, you know, you made the wealth on paper, you lost the wealth on paper, But did you really make or lose anything. But of course, um, as these cryptocurrency positions are losing massive amounts of value, you have to look into why why are they losing value? Well, it's kind of the same thing that's happening across all of the markets, and

it's typically, uh, brought on by something called leverage. That means I've used leverage to help me grow. Typically that's done through loans, So I've used loans, I've used debt to help me grow faster. The problem is, as things started going the opposite direction, that leverage helps you lose money faster as well. And so that's exactly what's been

happening in the cryptocurrency space. But it's also been brought on by quite a bit of um well, a massive amount of mismanagement, and I'm guessing elite for sure, some if not quite a bit um fraud on top of that, and so um, of course when that happens, uh, you know you and I we we certainly can't deal with any risk. I mean, imagine if we had risk in our lives. So we need the government to step in

and protect us. Right, hopefully the government can protect us from any risk, and that's exactly what they're trying to do. Chairman J. Powell from the Federal Reserve says that they are tracking crypto market volatility very closely. What does that mean? Or try king it very closely? Now? As I just said, many of the Wall Street darl and tech stocks shopify, peloton Um Square Um. I can't even think of all on the top of my head. But they're down way more than Bitcoin and as much as most of the

cryptocurrency space. So is Jerome Powell also iron that is he also I in the vaultil in the stock market, because he probably should he if he isn't. But it says here that Jerome Powell, Chairman of the Federal Reserve, told a Senate committee Wednesday that officials at the US Central Bank are watching the crypto market closely amid a period of heightened voluntility, So of course it's vaulatile. He

just pulled the punch bowl away. All the markets are crashing, including crypto, including the tech stocks and soon to be real estate as well. So, um, of course there's heightened volatility. You caused it. Thanks so much. It reminds me of that Biden sticker on the gas bumps. I caused that.

Um It says that the impact recent crypto market altility on the Fed's operations, including any macroeconomic implications, the FED is watching very carefully, but added that the U s. Central Bank is quote not really seeing significant macroeconomic implications so far. So um he says, Yeah, we're watching it, We're paying attention, but look, we don't expect this to like be a big problem, right like we have, uh, you know what we're seeing the entire you know, Nasdaq

exchange losing. I think total wealth lost in the globe is like twenty three trillion dollars and the crypto market makes up like one. So they don't see that as being a big risk. Um he says that we're not. We're not seeing massive implications for it to be spreading over, but we're definitely keep an eye on it as they should. The question is when will the FED come off of their um position to crash the markets that the quote is, uh, the pivot. When will the pivot come? And of course

we're waiting anxiously for that. But the FED is not the only only one trying to tame the markets and with with regulation. As a matter of fact, another central banks trying to do the same thing. I'm gonna come back and talk about that and a whole lot more, digging more into the crypto space and some other stuff that's happened, including why I like to use the word bitcoin not crypto. Um, some stuff that's been going on with there that's going to really show you that highlight

that for you. You're listening to the Mark Moa Show. We're talking about the decentralized revolution, talking about cryptocurrency, bitcoin and so much more. I'm gonna be back with other banks trying to regulate it and more in a minute, So don't go away, all right, Welcome back. If you are just tuning in, you're listening to the Mark Moss Show, and of course we're talking about the decentralized revolution the world is going through. We're talking about bitcoin, we're talking

about cryptocurrencies. We're talking about the central banks. We're talking about the central banks. We're talking about the central planners trying to centrally plan your life. I don't know how you feel about that. I'd like to find out. Hit me up on on social media at one Mark Moss

at the number one Mark Basson. Let me know. How does it feel to know that you're not in control of your own life, it's being centrally planned by some people you don't know, and to land far far away that haven't taken any of your input or votes into consideration. Because that's exactly what happening, arbitrarily increasing the money supply, decreasing the money supply. I was talking about how the Federal Reserve is trying to uh, well, they're watching the

crypto markets to see what's happening. And they are not the only central planners, I mean central bankers that are doing that. Uh. And we also saw this week the e c B, of course, not to be on left, undone or outdone, I should say that's the European Central Bank and the European Central Bank head calls for separate framework to regulate crypto lending. Of course, of course, anything we can do for more power and more control. Right, So Christine Legarde introduces a Micah two idea m I

c A to cover issues yet untouched by European regulators. So, heaven forbid, there's one part of the economy that the you're preen regulators don't have under control. Heaven forbid that, let's go ahead and get that under control. That's kind of what she's saying here, it says European Central Bank ECB President Christine Leguard voiced her conviction on the necessity of tighter scrutiny. We must have more control, of course, you know, for your safety, right, think about safety on

a spectrum. So a lion the king of the jungle, right, the lion can is the king. It doesn't have any predators. It can kill basically whatever it wants. It's free, but it's not a it's not a it's not an easy life for the lion. Um It's still has to fight other lions to protect its space. It's still you know, it could get killed by a hunter. It maybe doesn't find any food or water, it starves to death. It's free, but it's not an easy life. We could take that

king of the jungle. We could take that majestic lion and we could make it safe. We could put it in a zoo. We could lock it into a cage, never let it out of the cage, and just every day slip a little bit of food and water in the bowl. And now that lion is safe, but it's not free. And so that's the spectrum that we're on. And so now they want Christine Lagarde, the ECB president wants her. She voiced her conviction on the necessity of

tighter scrutiny for your protection. Leguard expressed her thoughts not only about the looming inflation in Europe and around the globe that she caused, but also about the increases it didn't say that I had did that, but also about the increasing activities of crypto asset staking and lending. In Leguard's opinion, she said that they need a major they need a major regulatory package known as the Crypto Assets m I c A. Now I will bring it to your attention in case you aren't aware. Um the guard

expressed her thoughts not only about the looming inflation. So you did that, you printed all the money, you caused all the inflation. Thanks for that, and now we have to deal with your mistakes, and now you want to control us even harder. Now, I do want to point out that Christine Legarde, who's here voicing her strong conviction UM, who runs the ECB, the European Central Bank, formerly of the i m F International Entary Fund, is a convicted criminal.

She is a convicted criminal, UM, and she's running the momentary supply that affects my life, in your life. I didn't vote for her. I don't know why she's not in prison. I'd like to know that answer. But here she is, UM, you know, saying that there's a small little part of the market that's not being regulated and we should step up, and we we need in her words, uh, necessity of tighter scrutiny. We need tighter scrutiny. Of course for your protection. Of course, she says, quote innovations and

these unexplored and uncharted territories put consumers at risk. So UM, imagine uh in the United States, you know, moving from the East coast to the west coast, moving out west, the wild, wild West, and explorers had to set out into what did she say, unexplored uncharted territories put consumers at risk. Yes, when you venture out into unexplored and uncharted territories, yes, you're at risk. Where the sailors leaving Spain to find the New World charting unregulated or unexplored

uncharted territories, were they at risk? Yes? Where the people going into space to explore uncharted territories were they at risk? Yes? Of course, of course when you go into uncharted and explored territories, you're at risk. So what is her solution these it's these innovations that cause this. Well, she's on record saying, quote, innovation is a threat to our financial stability. That's what you said. That's her words. Innovation is a threat.

Here she says it again, innovations in these unexplored, uncharted territories put consumers at risk. So what should we do if I mean, heaven forbid, we can't allow people to take risk? Were it's our job to protect them? Right? Well? No where does it say that, UM is their job to protect private property rights, but not to protect us

from risk. And so um, if they want to put us at risk and the risk is coming from exploring uncharted territories, which come from innovation, then does that mean we have to get rid of the innovation, because that's

what her other quote said, innovation is a threat. She she went on to say here quote where the lack of regulation is often covering fraud, completely illegitimate claims about valuations and very often, you know, speculation, oh as well as criminal dealings end quote, So covering fraud as well as criminal dealings. Um, she's the one that's a convicted felon. Well, I don't think she's a felon. She's a convicted criminal. That's different over in Europe. She's a She's the one

that's a convicted criminal. Not me. Shouldn't she be the one that's regulated. She wants to regulate me. She wants to regulate you from being involved in innovations because those innovations allow you go to unexplored, uncharted territories, which could put you at risk. Heaven forbid, because those those new, brand new things could be potentially covering up fraud and

um and criminal dealions like she participates in. Not me, don't put that on me, don't put that on you, And she says it's also often, very very often speculation. So speculation is most people think of of of investing, but most investing is really speculation. It's buying an asset thinking that it's gonna go up in value. UM So it's gambling. But we're being driven into speculation because they've printed so much money. They pushed yields to zero. I

can't make money on my money anymore. My money is losing value so fast. I have to speculate in order just to stay even, because if I don't, I lose all my wealth. She created that system by running the I m F and run the ECB, and now she's saying that innovations and exported territories put consumers at risk where they're trying to speculate. We're trying to speculate because you put us in a situation where we have to speculate.

It's the only way. It's insane. The the official made a separate mention of decentralized finance DeFi, which from her point of view, also poses a real risk to financial stability. Yeah, because if we create a brand new way for people to do loans and get money, then they may not need this old, corrupt, incompetent system anymore. Imagine that. UM, I am one that believes that good ideas win because

they're better. That's what competition allows. You want to keep the old way great, I'm gonna go try this new way. I might found out this new way sucks, and I may never go back to this new way. I may say that this old, tried, true way is the best way, but how do we know that unless we're trying new things. But of course they don't want that because it poses a real risk to financial stability, she says, convicted criminal. Anyway, that's my opinions. Love to here, what do you think

I'm I got. I got so much more to cover that you are going to be blown away. We're gonna talk more about cryptocurrency and what some of the biggest investors in the space are saying about it, where it's going, and some big, big wholes that were explored this week

that you need to know about that and more. When I'm back, you're listening to the Mark Moa show talking about this decentralized revolution, talking about bitcoin, talking about cryptocurrencies, and covering the biggest news of the week, so you know what is going on. I got a whole lot to cover when I'm back, So don't go away, all right, Welcome back. You are listening to the Mark ma Show where we talk about the world that is going through

this decentralized revolution. Of course we're looking at the lens of politics, finance, and technology. Is the pendulum swings from centralization to decentralization and is being led by bitcoin technological revolution that brings us decentralization. And it's never a dull moment in the space. It's a it's a it's a new space. It's over a decade old, it's a dozen years old, but yet it's still moving so fast. Of course, one of the ways that you look at new technology

is not at the price. You look at it through the growth of the network and the development on the network, and it's happening very very fast, and so it gives us plenty to talk about. But if we're looking at the price, unfortunately, um well fortunately fortunately unfortunately. But what's how your own Uh, if you hold a lot of bitcoin and you're very long, it's unfortunate because the price

is down currently right now. If you're looking to add to your bitcoin position, maybe it's a good thing because it's at historical, um, amazing buying opportunities right now. So it depends on which way you look at it. But unfortunately, one of the keys with investing, I don't care if it's real estate or stocks or crypto or whatever. One of the keys is never be a forced seller because you don't want to sell the oldest, the oldest added

in in uh in investing. If you can, just if you can, just remember this one tip, you're always gonna be okay, all right, this is the secret. The secret to investing is simple. If you can get this one thing right. Okay, do you have a pen? Right this down by low and sell high? So simple, right, so simple. The problem is you don't know when it's low, and

you don't know when it's high. You only know when the bottom is in when you're looking backwards on it, and you only know when it's the top when are looking backwards. Otherwise you don't know. So we we know when things are cheap or expensive, we don't know when they're at the bottom or the top. But you never want to be a forced seller because you could be forced to sell at the bottom. But remember you're supposed to buy at the bottom and then sell it up,

not not to sell at the bottom. But what happens is things go down, you use leverage. Um, you could be a forced seller and forced to sell at the bottom. You don't want to do that, And that is exactly what's been happening with some bitcoin miners. Bitcoin miners had to sell their entire May harvest reports say so miners, of course, Um. Part of the reason why bitcoin mining works so amazingly well is like gold mining, there's a

true cost of capital. They have to put out real money in order to mine that, they have to buy the equipment, they have to spend the money in electricity, etcetera. Right, and so there's a real cost. And as the price of bitcoin has come down, some of the miners aren't making as much money as they were making before. Now when they're making a lot of money, say they're producing bitcoin for you know, a third seen fifteen thousand dollars, but bitcoins forty thou Well, they can sell thirty percent

of their bitcoin and they could break even. But when the price of bitcoin is down at they maybe have to sell all their bitcoin to break even. And so that is what is causing this to happen. And so we said says that bitcoin miners are um having to dump their bitcoin in order to fund their operations. And

miners are having to liquidate their bitcoin holdings. New data from Arcane Research shout out to Arcane UH shows that public bitcoin mining firms sold one percent of their production in May compared to the usual So typically, like I said, they sell that covers their expenses, but they were forced to sell a percent Now, um supply and demand. When we have more people selling than we have buying, that

pushes the prices down. So in an environment like we have right now where the crypto markets down, all the markets are down, the crypto markets down. UM, it's trading very liquid, there's not a lot of people buying and selling. UM. And then you dump an enormate amount of bitcoin on the market when there's not a lot of buyers, what's going to happen to the price? Obviously it goes down,

UM says. In the first four months of two public bitcoin mining firms sold thirty of their mind production, which increased three times in May and is expected to rise even further in June. Now it is it is UH. You do need a note here that public bitcoin miners only make up about the total network hash rate and so UM, but their behavior reflects the sentiments of private miners. As well. So, um, this is for public miners only about the network, we can't we don't know what everybody

is doing, or there's no way to know. But of course publicly traded companies are forced to disclose what they're doing, and so we can see what's happening there, and says the decline in the price of bitcoin has also made many mining machines unprofitable, forcing miners to leave the cryptocurrency market. Now, the way that bitcoin mining works, though, is that unlike gold. So it with gold mining. Let's say that the price of gold that's at eight announces right now, let's say

it jumped to twenty announced. Well, all of a sudden, more people would go out to mine gold. And when more people go to mind gold, there would be more gold would come into the world, right come into existence. But bitcoin mining is different. Let's say that the price of bitcoin jumped to a hundred thousand or whatever a million, and everybody wants to go mind it, they want to jump in and start mining bitcoin. Will no more bitcoin comes into the world. The same amount of bitcoin comes

out every single day. The more people there are to mind it. You just have to split the same amount of bitcoin with more people, less people mind it than it goes between less people. So what happens is when you're mining the bitcoin, your single biggest expense is the electricity. Right you buy the machine, everyone has to pay about the same for the machine, and then I need electricity

to run it. That's your single biggest expense. Now, if you want to make more money, you cut your expenses obviously, right. So in California, where I'm at in the summer, the top tier of the electric electric system, our payment are our pricing is forty cents per kill of water hour, which is insane. In Texas it could be eight cents, So forty cents in California, eight cents in Texas. So in Texas I could be profitable running at eight cents.

So some people are running in at eight cents, some people run at five cents, some people run at four cents, three cents, two cents. So the people that mind it two or three cents make way more money than the people minding an eight cents or ten cents or twelve cents. That makes sense. So what happens is when the price starts going and I think it was at about fifteen cents,

I didn't look it up today. I probably should have, but I think it was that you needed about fifteen cents per killer water to break even, So now I don't know where it's at. Now, Let's say that it dropped down to ten cents to break even. So now everybody is paying more than ten cents, and that's the hypothetical number. I didn't look it up, but anybody paying more than ten cents today would have to shut their equipment off or they could run it out a lot us.

The beauty is um that everyone who stays on gets more bitcoin than they were getting before, so they're getting a bigger chunk. But let's say that it keeps dropping, so then it goes down to eight cents. Well, now the people at ten cents have to shut off or mind it a loss, so they shut off. Now everybody's staying every everybody remaining gets more than they were getting before.

And so basically, whoever gets the power for the cheapest or has the biggest pockets to mine in the negative can run the longest, and whoever runs the longest gets in a bigger share of the amount of bitcoin released. So if you're paying the lowest amount, you can ride

this out. Longer, or like I said, if you're you know, publicly traded company or something, and you have big war chest of money, you can you can also go into the red if you want to force nobody, no business wants to run in the red in the negative, and you shouldn't have to. And so the whole key here is two things for bitcoin mining, and one what is the price of power that you're paining? And two what's eyes of war chest do you have in order to

back it up? To mind in the red? Now, as I said in California, forty cents of what I can't mind. There's no way, Like I'm not even close. I'm not. I'm never profitable from day one. But if I'm in Texas and I'm paying eight cents, maybe I can be. You're listening to the Mark Moa Show. We're talking about the decentralized Revolution. We're talking about bitcoin, We're talking about

the cryptocurrency space. We're looking at the at the world through the lens of politics, finance, and technology, trying to make sense out of what is going on in a world without of control central bankers who are hell bent on creating booms and creating bus never mind who's getting caught in their wake. I got a whole lot more to cover when I get back, So don't go away, all right, Welcome back. You are listening to the Mark Mos Show. We're talking about the decentralized revolution that the

world is going through right now. Of course, we're looking at it through the lens of politics, technology, and finance, which to me intersects right at bit coin. Of course, we're looking at bitcoin. We're looking at the cryptocurrency. We've been talking a lot about the FED, you know, the central bankers, the Central Bank of Europe, the ECB, Central

Bank of the United States, the Fed. Of course, anybody that's ever heard of bitcoin or cryptocurrencies would probably stay right off the bat like, well, there's no way the central bankers would ever allow that to happen because they don't want to give up control over the money. But that's the very reason why it has to succeed. We don't want, we don't need, we can't take any more central control over the money supply for them to increase

it and decrease it at will. And so we look at the way that bitcoin is growing, both in the network and the development that's happening on the network. And we look at bitcoin differently than cryptocurrency because bitcoin is decentralized. That's the real revolution here. Every fifty years, approximately forty to sixty years, there is a technological revolution. That's something that that changes the course of humanity and it drives

financial markets. Not new technologies, but technological revolutions. And that's what bitcoin is. It's a centralized revolution that's changing the world. Uh. Contrast that to cryptocurrencies that are neither crypto nor are they decentralized, like Salona, for example. Now Salona, hang on, before you hate me, let's just take a look at what Salona is. So, Um, A lot of people made

a lot of money in Salona. They bought it for when it was really cheap, and they wrote it all the way back up and they made a lot of money. And so they might hear me saying something like this and go, what what are you saying? Like, I've done so well with Salona. Look how much money I made with Salana. And I'm not saying it wasn't a good way to increase your U S dollars. So I'm certainly

not saying that. Um, But we've seen Salona peak at where was it two hundred and fifty eight dollars per s o L and today it's sitting at thirty four. It's a pretty big drop from two fifty eight to thirty four. As a matter of fact, if I pull that up, I don't know. I didn't calculate that I had a time. What type of a drop that is. Let's see here if I can do that on the fly while you're hanging out with me, s O L. Here we go, USD boom, there we go. Well, this

doesn't look good. It's measured out, so we go at the top right here. That was in November. By the way, here we are UM nine point one down from its peak. But it's not about how much you made or lost. It's more about this cryptocurrency and is it really decentralized so UM. The big differentiator between bitcoin and crypto is the consensus mechanism. So Bitcoin uses something known as proof of work, where you have to buy these miners, you have to put them in the network, and you have

to buy electricity to put in work. You have an economic incentive to be a good actor in the network. UM. Unlike most cryptocurrency, including Solana, it uses something called proof of Steak or pos which is another accor him which you know what I mean, And I'm not gonna say it now, UM Salana doesn't really Most people think it's decentralized, it's it's cryptocurrency, it's blockchain, and they don't really think

about this. It's not decentralized. It's being centrally controlled. Now you can just do a Google search because you probably don't believe me, UM, and just look at how many times Salona has been shut down. Probably in the last twelve months. I think they've shut it down two or three times. Who who Who shut it down? Who decided it should be shut down? How do you shut something down that's decentralized. Nobody can shut bit going down. Nobody ever has. It's never been shut down. So who did it,

who decided and how did they do that? And that's just the tip of the iceberg. This week we saw Salona defied platform votes to control a well account in bid to avoid liquidation chaos. So I've been talking about the last couple of weeks all these liquidations that are happening UM with UM started with terror Luna, and then it's been spread into Celsius and now it's going into you know, all these other platforms UM and through the

DeFi space, we're seeing massive liquidations happen. And with so Lana, somebody was using a defy which is decentralized finance. Remember, nobody's supposed to be able to control. The revolution is decentralization, which means nobody can control it. Right. I don't want Jerome pal and a couple of guys deciding what to do with the dollar. I don't want anyone. I don't want to take it from him and give it to someone else. I want nobody to have any control over it,

so it's always the same instead of being manipulated. Right, And so that's that's that's the revolution decentralization. SLANA isn't decentralized. So what is it, Well, it's this defied platform. What's defied decentralized finance. So the goal is is that what we have this decentralized finance that nobody can control. Right, So, um, there's no permission. I can use it as I see fit, right, But unfortunately it's not really decentralized. It's not much finance

either for that matter. And so what happens is all these people are using these decentralized finance protocols to earn guield their steaking, and they're taking out and they're wrapping it and they're restaking it and all these different things. But what we're finding out over the last couple of weeks is none of these they're decentralized, and these companies are stay are pulling their steakes and and and liquidated him.

Now in this case with Salana, Salana uses back to what I was saying, a proof of steak, not proof of work. Now, what proof of work means has already explained that. But I can have way more bitcoin than you, but I have no more say in the network than you do, because nobody has anything in the network because the network doesn't change, which is what you want you

with with your money proof of steak. What that means is whoever, what it means you take your tokens and you stake them, you lock them up in like a contract, and whoever has the most token steaked gets the most vote, the votes for what, well, the votes for whatever they want. Now, I don't like that. I want to be in a system that doesn't change. So let me explain to what happened here. So in this the users of Salona based borrowing and lending services. So Land voted Sunday to force

a takeover of the protocol's largest account. Should I repeat that, users of Salana voted sunday to take over one of the protocol users account, the largest account. That's democracy. This is gonna come uh controversial. I want to throw one right by past you. You You may not like it, but I was just gonna throw it out there, and if you don't like it, you can send any right back. It's a line from Anchorman. But anyway, look, democracy is

rule of the minority of the majority. So, um, there's ten of us sitting around, and nine of us get together and say we think that you should just give us all your money. You know what, you make too much, you don't really need that. The nine of us have have all agreed that you should just give us everything. That's democracy, and that's what proof of steak is. And so the users of Salona got together and voted I'm gonna read it again, to force a takeover of the

protocol's largest account. So they voted collectively that this large account that had about twenty million dollars should be taken over and liquidated. Kind of sounds like the system that we have today, sort of like the Federal Reserve where they just changed the rules arbitrarily and they could just take over anybody's account. They could freeze accounts, so they could seeze accounts. That will sort of sounds like that.

Where's the revolution in that the revolution is having a fixed set of rules that can't be changed, can't be manipulated, and I don't have to worry about the majority voting and against me to steal all my money, which is

exactly what happened. It says the unprecedented governance vote Solon's first will grant Solon Labs quote emergency powers like everything else, to liquidate the Wells assets about twenty million in twenty million dollars worth of soul Solon governance token holders who participated voted yes with the ninety seven point five percent of the vote. Who is an agreement that so and so should give us all their money? Yeah, we're all for it. Who's going to vote to take less money? Right,

We're always going to vote to get more money. But that's the very problem. There's no revolution. That's a system that we have today. Now. Look, if you made a bunch of money in Salona. Great. I'm glad for you happy. It was a great investment, and there's lots of penny stocks you can make a lot of money in as well. But it's a it's a difference between the revolution that's happening with true decentralization and what I call the decentralized revolution.

Bitcoin is decentralized. There's no one to vote to steal my money. So I'd like to money there. But what do you think? Let me know you listen to the Mark Moas Show talking about the decentralized Revolution, Bitcoin, cryptocurrencies and more. That's what I got for you today. Thanks so much for listening. I'll see you next time.