Everyone, Welcome back to another episode of the Mark Mos Show where we are talking about bitcoin. We're talking about the decentralized revolution that's happening, and uh, you know, each every week I try to bring you the information that you need to be successful as this as the whole world changes, that's what's happening right now. So I try to bring you the education that you need to understand it,
and try to bring you the latest breaking news. And then I try to bring some interesting characters that can bring some color because you don't want to hear me all the time. And of course I'm joined again by my really good friend Alex Fetzki. He is literally in the studio with me right now. It's up, Alex, what's up? Man? You can't get rid of me. I can't get rid of you. You're a regular on the radio show. Now, well you're I mean, you're someone I love talking to.
So any chance I can get you on the radio, I'm excited to do that. Um. We are. We're actually sitting in the studio together, which is cool. I don't We're gonna do that. And we are in Austin, Texas and we're working on a big project which we won't spoil it, um, but very ambitious project. We're trying to write a book in three days. This is exactly someone yeah, whose idea is this? And we're we're we're pretty much a good way through the first day. We haven't gotten
very far. So well, actually, you know what I think we've done all right, Like, I mean, we've got to we've got to get these definitions sorted out, but I think we've got a good chunk of content there. Yeah. So, um, it's it's inspired by bitcoin. I think, you know, for me, bitcoin really permeates every area of life, and so I think, um, it all just kind of depends on where it intersects for you. And of course we're kind of going back
to the base. I don't want to spoil what we're working on, um, but it it kind of goes down to the basis. It's not really a bitcoin book, but if you understand this, you can understand bitcoin and everything else. I would say, totally. Yeah, that's a really good point actually is um. I think one thing that helps people understand bitcoin is, as you said, understanding the principles or what Jordan Peterson would call the golden thread across different disciplines.
And when you sort of discuss a this golden thread that you find like, for example, you find it in the study of Christianity's philosophy or Taoism or um. You know, you find it in Austrian economics and all sorts of things, and and and when you start to find that threat across multiple different seemingly unrelated disciplines, UM, you start to see that there's there's what's called like a meta or
a way of life. UM. And then when you when you have that foundation, then you look at bitcoin, you start to see that it just lines up with so many different things, and you're like, holy crap, it just makes so much sense. So I hope that book will be useful for that at least. Yeah, So we're kind of doing it as a public service announcement. We're gonna get out there, you'll you'll be hearing about it. So
it's just stay tuned. But anyway, UM, So I thought it would be cool if we could talk about today is UM like a samurai s or just surgically removing the fud, the fear, uncertainty and doubt and so UM. I just spoke at a conference with in Houston with Ron Paul and from the stage, I said, and I kind of broke it down. I said, you're gonna hate me for this, but it's it's bitcoin, not crypto. Come
talk to me about in the back. And so for the rest of the conference, I had to sit there and hear every objection, every reason why you know it can't be a bitcoin. And so I thought, um, let's go through. Yeah, let's let's go through the top ones, and I'd like to hear a perspective. We'll discuss these. We have a whole bunch. We probably won't get through all of them, will get through four or five, we'll see. Um, but let's start with one of the one of the
main ones. Um, probably one of the most popular ones. I mean they're all they're all popular, but um, the first one that says, uh, the government won't allow it to succeed, won't allow bitcoin to succeed'll they'll make it illegal whatever. To me, the way I kind of view this one is that's what bitcoin did, is it it
transformed money into information. And to assume that you can somehow turn off information, not turn off numbers, it's kind of like seeing the government is not going to allow the number three to exist, or the government's going to turn off the you know, the vowels in the alphabet. It's like, you can't do that, man, Like it does,
it doesn't work. So Bitcoin so integrated now across every dimension of all of our communication media, whether you know it's the airwaves that people are listening to now, um, you know, and that this is sort of you and I are talking to people while they're listening to this, whether it's the Internet, whether it's visual media, whether it's
written media. It's it's across everything. And you know, a lot of people conflate the Internet with bitcoin, and they say, oh, you know, so someone turns off the Internet, you know, and what if the government just you know, blocks X y Z. Yes, that may have an impact on bitcoin, but it doesn't actually stop bitcoin. The Internet and all of these mediums are just information transmission mechanisms, but they're not the information itself. And I think that little separation
there is really important for people to understand. It's like there is no power in the universe like that can destroy information, that can destroy energy. That's effectively what bitcoin is. So just because the government has the ability to legislate things or to write laws or to know by decree tell people what to do and apparently what to believe. Um, doesn't mean that they can change the laws of physics,
doesn't mean that they can change mathematics. Doesn't mean that they can just randomly turn off numbers and letters like that. The no government, no institution, no person has that power. So yeah, that that applies to bitcoin, bitcoins information and it's just not gonna happen. So when they say they won't allow to succeed, they could make it illegal. They make it illegal, but it'll just succeed in a different dimension, and it will succeed for different people. And what what
it will do is that they might delay it. They might through trying to you know, make it illegal for one group, um, you know, another group may amass more of it. So so for example, I'll give you one example is let's say they go and turn around make it illegal for you know, standard law abiding citizens talk quite some bitcoin. Well, they didn't kill bitcoin. All they did was they made it harder for normal law abiding citizens to hold bitcoin. But then guess who's going to
buy all the bitcoin? The criminals. So then the criminals are going to actually have disproportionate economic power over the law abiding. So so so all they've done is they've hurt their own people. So you know, it wasn't the government's supposed to be a service provider for the people, you know, and I mean in typical government fashion, they always do
the opposite, So they may do that. So what that kind of leaves you as an individual to decide is do you want to do you want to be subservient to what's um authoritarian institution you know, tells you is right, wrong or indifferent, illegal or illegal? Or do you want to own yourself and give yourself the best long term opportunity to be sovereign? I guess good? All right? Um, how about this one? Um, So bitcoin has a fixed supply capp only twenty one million, and a lot of
people say, well, they could just change the rules. We can just someone can just change that later. It's just code, right, they could just change it. This one I love because this is one of the ones that fries people's noodle. Is um is Bitcoin security is super counterintuitive to how traditional security works, particularly in a software space. But that's the whole revolution. It's completely changed. Yeah, it flips everything
on its head. So traditionally, like if you're a Microsoft or you know whatever traditional um, you know tech company that's probably been hacked and you know, lost all its data. The way you secure data is you kind of put it behind walls of encryption, right and you you all this sort of stuff, and someone inevitably holds some key to some layer of encryption, and that's how you end up getting through this stuff. You know, encryption is very
rarely broken. Hacks usually happened by social manipulation and accessing the person who has the key. Right now, what bitcoin does is it just opens all of it. So it breaks all the walls down and it says, hey, here's the code, got nothing to hide. Everyone can see it, everyone can create a copy of it. Um And bitcoin security comes from its openness in this sense is that
we all carry a copy of the bitcoin code. And you can think of the bitcoin code is like a constitution, So it is just the bitcoin's constitution written in language that is a coding language, and we all carry a copy of it. And if you or I want to go and change bitcoin, we actually can. But all we do is we actually change our copy and not everyone
else's copies. So a bit quin's innate openness means that you are free to change whatever you want, but you knock yourself off the network and you are no longer in sync with everyone else. So now like if I change it, and I change it to bitcoin Spetzky's version, I'm bitcoin spe Yeah, yeah, I want to talk about that because that actually goes into the next piece of fund that we have. You listening to the Markmas Show. We're talking about bitcoin, the decentralized Revolution. We're talking about
some of the biggest objections that people have. I got a whole list of them. Don't go away, right back, all right, welcome back. You are listening to the Mark Mo Show. We're talking about bitcoin, and we're talking about the decentralized revolution. Um. I am in the studio with my good friend Alex s Fetzky. You can find them on Twitter at a ghost of Spetzky s V E T s K I and UM. We're talking about some of the biggest pieces of fud, fear, uncertainty, and doubt.
We're just talking about why the government won't allow it. We're talking about the rules that can't be changed. And Alex, you were talking about how this is a decentralized databases and then how it's open source so anybody can see it UM, so I think maybe you want to finish that up. And then it kind of goes into the next one, which is was it started by the c I A. And I think those actually to kind of
go together, they really do. So once again, the bitcoin network isn't some piece of software running somewhere that we have UM access to. Each person running bitcoin actually runs bitcoins. So when someone asked the question is like, who's running bitcoin, it's like, the answer is me, and the answer one yeah, it's like and anyone who chooses to run it. And the only reason we have a network is we're running
the exact same version. And that's that's that's the piece that people really need to understand is anyone can change it, but when they change it, it becomes their version, and they are no longer in sync, they're no longer in consensus with the rest of us. And that's what makes it super super, super super powerful, is that that's what
makes it unhappable is there's nothing to hack. You go and change it, change it forty two million, but now it's like bitcoin point four two, like it's it's something else and Therefore Bitcoin's integrity. The twenty one million can never be changed unless you get every single person on the planet who is running a version of bitcoin to do that exact same change at the same time, or
the majority of them, not even the majority. You have to get everyone because you need like because what will happen is like if the majority change UM, all they
do is they fork off onto a different version. And now the question is will people follow that version, which is someone who decided to change it for example, which the best example of that is the Block Size Wars, So everybody, every anyone who's interested in learning more about this specific answer should read that book, The Block Size Wars,
because Bitcoin had to find this off. As a matter of fact, I think it was eighty percent of the miners turned against the network UM and is still held it off because of the nodes, which is the network. The database has held that off. So UM one not only would it we have we have proof of of how it's happened in history, UM, so we kind of we kind of know that. But I think anyway, I was gonna say, one of the best ways is like try and get ten friends to decide on where to go. Seriously,
like that, that doesn't work. I mean, try and get you know, a hundred thousand nodes to a graem on something ain't gonna happen. The other thing I would say about that is just like the block sized Wars that was years in the making, and so it's not like, oh, what do you mean I switched yesterday. I didn't know. Like if if somebody was trying to do this, we would know long in advance before it ever happened. And
that gives you plenty of time. So even if somebody tried to do that, Um, it's not like it just would happen. Yeah, Coordination is a hard thing. Coordination is a problem that's never accurately been solved by humanity. It never will be because we're talking about individuals who value everything subjectively, we're all different. You can't get us to coordinate. So, um, I think that open part. Maybe it goes in the next one because a lot of people say it's writed
by the CIA. Now I think maybe that God, it's uh, it's the beginning origin of the rumor because I think the government did create encryption, right, they used it in during wartime, probably to send messages back and forth. So encryption has been around a long time, probably created by the military. Um, but people think that bitcoin was started by the CIA. Yeah, well, I mean to your point
about encryption, encryption goes back even further. So it's like the original encryption was like, let's say you've got an alphabet and you want to say I love you or you know, the first encryption was like moved the letters of the alphabet across by five, and then the private key to unlock the encryption was a plus five exactly. So so encryption has always existed, and arguably maybe it was military, maybe it was whatever, like the in the early days trying to send messages to each other that
nobody else could read. But um, yeah, modern day encryption, you know, a bunch of it was funded by military, bunch of it was funded, but you know, or just cryptographers and mathematicians and Universe City, you know, PhDs and all this sort of stuff like experimenting with that. So the piece about the Sea I creating it though, that may well be the case. But once again, similar to you know, as you said, this links into the previous answer,
it doesn't actually matter. They may have done it, but all they do is hold a copy of it, and good good for them, so do I. And I think the key piece that I hit on that was like if they had put some I think people ask that because maybe they put some back door, right, but like if it's open source, so if they had put a back door, like we would know about that by now. Yeah,
the back doors visible, so there's no like that. This is again like you can do a back door in a closed source piece of software, right, So Microsoft put a back door in their little closed environment and they do of course, so Google, so good everyone. But bitcoin is not closed, so there's no door to put like that. All the doors are open, all the doors are backdoors, all the doors front doors, They're all the same door.
And that's that's again. Bitcoins security comes in the in the form of not trying to inclose and conceal, but just opening everything and making completely transferent. Yeah. Um, the next one is a bigger one. So let's uh, it's a big one. We're gonna we're gonna get to this one after the next break. Let's jump into this one.
Maybe it's a little bit shorter, but um, people think that inflation is needed for economic growth, and so a fixed supply or deflationary currency or disinflation and currency could never work. Um, I mean you got two minutes ago? Was this the short one? It's a track? Um? Okay. The the thing I always try and come back to first principles on this is like money is supposed to represent some extension of the time and energy you put
into creating something of value. Right, And if you could you know, time and energy are inelastic, that they're the same for everyone. Um, that they fixed quantities. And you know, yes, you know, one could argue that you can ext tract more energy and all that sort of stuff, but but you can't destroy your creat energy. All you can do is extract it, right, So and then our ability to extract more just increases how much value we can add with the amount of time we have. But at the
end of the day, there fixed quantities. Money is supposed to be an extension of those. Money should be fixed. Doesn't matter how much money you have. What matters is how divisible that money can be, and the difference between as like you've got potentially a deflationary currency, inflationary currency, or a disinflationary currency, which really the better word for that is I think a fixed supply right, that is perfect money because that is perfectly scarce. Means there's there's
an amount we all know it. That means you know your proportion in relation to the whole, and you can never be diluted, and you're What you've acquired maintains purchasing power over time and maps to the collective productive capacity of the society in which you operate, all the society in which that money um operates. So it's the supply itself doesn't need to be elastic. The supply needs to be fixed, and then the purchasing power can be elastic.
But if you make the supply elastic, then the purchasing power goes a weird and then you get all sorts of other problems. So you either you either keep the currency price flat a dollar's dollar, but you increase the money supply, but then the price of goods and services goes up or um the money supply stays fixed, the price of goods and services stays fixed, but then the
money supply goes up. Right, it buys more goods and services in the future, So the value accrues to the money as opposed to the assets correct exactly, and that's what you want. Then that enables the thing that old civilizations need saving. Yeah, so I just say, would you rather your money buy more goods and services in the future or less? And everybody wants more of course. You listen to the Markma Show. We're talking about bitcoin. We're
talking about the decentralized revolution. I'm in the studio with Alice Fetzki and we are talking about uh fud I, fear, uncertainty, and doubt. We're breaking some of these down one by one by one. We have some more big ones to jump into. Uh, some real big ones. See if we can get them all done here. Um, don't go away, We're gonna be right back with more. All right, welcome back. You are listening to the Mark Mos Show and we
are talking about bitcoin. Of course, each and every week, same channel, same time, So make sure put on your calendar, don't miss don't miss out unless you're driving, then wait till you pull over the put in your calendar. But um, you listen to Mark Boss. I'm in the studio with Alex Spetzky. Find him on Twitter at goes to the Fetzky. He's uh with Amber get Amber check him out, a company that can help you jump onto the Bitcoin Bandwagon, get in, get in the group, be pep be an individual,
but but part of a group. So check out check out Amber. But but Alex, we were talking about some of these these fear and certainly doubt headlines. UM, so the bigger one that I was waiting for. I don't know. They're both big, and they're all big, but um one of the big, one of the big ones that we hear all the time is, um, isn't bitcoin older technology? Like isn't it my space? And we have like Facebook or something? Can we I'll go one final thread from
the last one. Okay, so the one before before the break, if you just joining us. We were talking about why inflation is needed for economic growth, and we were talking about how most people think that the money supply has to expand for the economy to expland um, So go ahead, Alec, what do you want to add? So I was just gonna ask you about innovation? So what does innovation due
to generally the the the price of something? Well, I mean typically I believe innovation is always going to be deflationary because humans are always trying to get more for less. So I used to carry one rock by hand. I invented a wheelbarrel so I can carry ten rocks at one time. And so everything that we're doing, all progresses typically going to be deflationary. Is that right, exactly totally.
So what I try and tell people is like the forcing function for evolution comes in two forms, is efficiency and and efficacy like doing the thing better and doing more of the right thing, so so that that they're the forcing functions of innovation. Is like when you innovate something, when you make something better, you do the thing better so you can do more with less, and that that is that's the process of economizing. That's like literally the
definition of economizing. So realistically, if you assume that innovation is synonymous with progress, that means that the price of goods, services, and everything, like if we're progressing, if we're getting better
at something, should always be coming down. And this is why, like I think people misunderstand um that the whole inflationary money thing is like when you increase the supply of money, that means there's more money chasing the same amount or even still maybe more goods and services and products, because the innovative force always exists, right, We're always producing more stuff, but by and large, like everything should be coming down in value if the money was fixed, and that's that's
literally how things should behave, but we're doing it backwards. I like to use the example of a cup of coffee. So nine seventy one, a cup of coffee was whatever
ten cents. Today a cup of coffees four bucks, And like, don't you think with all the technology that we have that it would be cheaper to get a bean from Columbia to here and roast it and get in my cup, Like it should have gotten cheaper more expensive, totally totally, and like it's it's such as such a fuss, and it's it's so so backwards, and I think, like we need we need to slap people out of the hypnosis on this one because that that's such a big, big, big,
big problem. Yeah. Of course people are taught that because it works with the system they want, right, and so they want everyone to think that they have to continue to create more money. Um. And so you've been taught that, and so you're not wrong in what you're saying because you're citing back what you were taught, but you just haven't taken the time to stop and think about that. Um. So um, these are ones that we got to talk about for an hour each, but we're giving me the
short persons. So Alex back to you. Um, isn't an older technology? Is that slow and down and stupid and antiquated, so that this one, I mean, you can answer from so many ways. It's like, first of all, bitcoin is not just the technology, like bitcoin is a is a money, It is a it is a network. It is a form of consensus. It is a it is an energy transformation mechanism, it is a communications protocol. It's it's all
of these things. And I guess trying to tweak bits and pieces of the technology is trying to kind of apply the mindset one would apply when building a piece of like an app for example. You know, yeah, sure, okay, I can upgrade the app, you know, but to do that means that someone is in charge of the company, that is in charge of the app, and is in
charge of the product. Bitcoin is not a product that you just go and adapt and change, like bitcoin is a money and its job is to place money in the realm of the physical laws of the universe, Like can you go an upgrade by any chance to speed of light? And I don't think so, like you know, but that means that we can all operate on that standard and we can then measure like I mean, we can measure what a meter is. We can you know, we can create all of the technology that we have
around us by understanding these physical laws. And that's what money is now with bitcoins. So it's like it's reach perfection. What about being slow and dumb and whatever all tech? Um, if you think about things in terms of progress, um, we progress based off the amount of attempts or tries that we have at something. And so if something is very basic, if I have a flat table, I could build almost anything on top of it. But the more complex the surfaces, it limits what I'm able to build
on top of it. And so if you understand the way technology works, you understand it scales and layers because everything is a trade off. And so as I build, because I have a very basic based layer, it gives me more options and I can assign different trade offs as I scale up versus some of the other ones that are much more complex based layers, it limits totally. Yeah, So that's that's the idea of standards and and simple primitive. So if we look at um language language is a
good one. You have five vowels and you have twenty one constants in the English language. Um, you don't make English better by changing the number of vowels and the number of consonants. Like, we have a simple standard, and we all have found emergent consensus on that standard, and with that we can create an infinite number of I guess variations in what we're discussing. Another one is the Internet. So you've got this idea of what's called a dumb
network versus a smart network. The Internet itself is a completely dumb network. All it does is it routes packets of data. It has no idea what the hell those packets of data are. But how we abstract that means that we can create infinite complexity in terms of what is shared on the Internet. But at the very base, all it is is just ones and zero is being routed, and that's what bitcoint takes that premise and all it does.
But Queen's fundamental function is to route packets of money in the form of U t x O s between nodes, not even between notes between addresses that a mathematically drive so does that perfectly in that foundation is as solid as it gets. And on top of that, through layers, we can build whatever we want, and we can abstract all sorts of complexity. And that's the thing. It's like you need a standard in order to have complexity if
you have complexity, kind of standard and not just that. UM. I asked a few people like just to what you just explained, I mean, you understand kind of the internetworks, and your I s P s and your d N s and you know, then you have like your t c P I P SO or your IP address and your transfer protocol UM, and you have one transfer protocol TCP IP protocol, and you have billions of applications built on that. My personal website or Facebook or Google, everything's different, Netflix,
but they all use one transfer protocol. So then I ask people, are you, uh, t c P I P maximalist because like do we need or that? And also what would happen if you changed the t c P I protocol all of that value choins, It always would be wiped out. You can't change that, and so we need one and so kind of to your point, that's that's like an information transfer protocol, and now we have a value transfer protocol and as long as it does what it does, we can go ahead and do you know,
add all that on top. And I would just say, Um, the other thing is that using layer two and now whatever layer three or whatever they're calling it, um, we can already transfer Bitcoin faster, cheaper, and more private. So all the other coins that are doing that, that's kind of about Now we're seeing smart contracts. All the smart contract platforms are out and um, you know, it's opening
up all these abilities to add all these things. So what maybe it was slow, dumb and stupid, you know a few years ago because people didn't understand that technology scales, But where we're at today with layer two and layer three, we're already seeing it as advanced, if not more advanced than any other other platform that's out there. Let's just say, think of the human buddy, like you've got otteries, you've got veins, and you've got capillaries in the age before
a different function. So anything in nature, anything that is functional, has the scale and lays, and Bitcoin is just evolving along you know natural. Oh yeah, yeah, good one, good one, all right, we got we got a bunch more here. I don't know if We're gonna get through them all. I ran a poll on Twitter and got um all the ones that they thought were the most the biggest fund headlines. I think I got like twenty of them here. Um, I got some other big ones coming up. You're listening
to the Markma Show. We're talking about bitcoin. Of course, we're talking about this decentralized revolution. We're talking about the biggest objections that we hear. UM and hopefully this makes sense to you. You You can go back and have some more education. You can talk to some of your friends and family and and and beat fud. I'm with Alex Fetzsky. We're gonna be right back with more fud bashing. So
don't go away, all right, Welcome back. You are listening to the Markma Show and we are talking about bitcoin. We're talking about the decentralized revolution. And I'm in the studio with my good friend Alex s. Fetzky. You can find them on Twitter at ghost of Fetzky. Uh. You can check out Amber get amber and see what he's doing. If you want to get into the bitcoin ecosystem, makes it super easy. Um. And we are talking about flood.
We're talking about different ways UM that people seem to try to criticize bitcoin or whatever things that are maybe held holding them back. And so we're breaking down one by one. Now. We went through uh, government won't allowed to exceed. We talked about the rules could be changed more than twenty one million. We talked about it being started by the c i A. We talked about inflation needed for economic growth. We talked about it being older technology.
We got through. Actually, dang, we actually did pretty good. I got through a bunch. If you've missed any of that, then you missed it. So don't miss the next time. Put over Minder on your phone, be with me on this channel this time next week, or check me out on the podcast. Just search Mark Moss podcast Mark Constructors. You'll find that. All right, now, let's jump into another one here. So, we need more fairness in the world, Alex, We need more We need more fairness, We need more equality.
And bitcoin will never be never lead to equality because there's an unequal distribution, because what about the poor people that can't buy bitcoin? Right now, I would agree with we need more fairness, but we don't need more equality.
So like fairness and equality opposite side of the spectrum, you know, So so if I like, for example, if I have a game and we put a bunch of people on the field, like to compete in that game, like the rules need to be fair, which means they need to apply to everyone during the entire game all the time, and the result will be an unequal result. Like each of the players are different, they play a different thing, and someone's gonna win. Right, So life at
times is also unfair. But realistically, in that game, you almost need the unevenness because that's where you get your competitive edge frost. So like I might you might be bigger than me, but I might move quicker. Correct, so I'll use my um disadvantage or advantage to to play the game differently the new word correct. And then that's the thing I think, Like you know, anyone who's abouts this idea of like equality doesn't understand the fact that
diversity is also indirect opposition to equality. Like for something to be diverse means that there's multiple dimensions, means that there's differences, means that by definition it's unequal, and that I think a lot of people just also just conflate fairness and equality. And that's the thing is like bitcoin is perfectly fair. Bitcoin doesn't discriminate on who you are, where you are, where you're from, what your name is, what color you are, what background you are, whatever. Bitcoin
is just information and anybody can acquire it at any time. Now. It just so happens that some people have access to the internet, some people are more curious, some people you know, have more money at the moment, you know, than others, and all that sort of stuff. And people are acquiring bitcoin at varying rates. But that's not bitcoin giving one group or one individual and advantage bitcoin. It's just fairly available, but unequally unequally held as a function of how people
get to acquire it. So one of the examples always give to people is like, oh, you know, so what about some rich guy who's you know, got billions of dollars at the moment versus some poor person in Africa
doesn't have it. And I was like, there is a bunch of rich people like Peter Schiff who ain't got no bitcoin and probably ain't gonna get any bitcoin until it's worth tens of millions of dollars per coin, whereas there's an African out there who's got nothing at the moment, and he's doing some work and he's earning some bitcoin. He's probably gonna have more bitcoin than Peter Schiff when the time comes. But that's not up to me to decide.
That's up to every single individual to decide. I like that definition of equality versus fairness and and and you know, you look at in the United States, Um, there's a lot of anger disdain towards the rich people. And it's almost like people don't like rich people anymore. Um. And and it's interesting because there's so much you know whatever, anger towards that. Um. But then you look at like Lebron James and if in basketball, like he's the best player.
I don't know, I'm not a big basketball fan, but he's way better than I am. But nobody's mad about that. And I think the difference is that they recognize that the rules of basketball are fair, but they understand the financial system is not fair, and so they're mad that they've got ahead gaming the system, whereas in basketball you can't game the system. It's such a good observation and and and that's the thing is like a lot of people they sense that something. And this is the thing.
Human beings are intuitive, right, Like we sense we know that something's wrong, Like we know that somewhere in the game it's rigged. Like you know, so there's there's a bunch of people out there that are just like they're not working, they're not adding any value, and he, you and I are like busting up bulls adding value, and it's like it's rigged, and no one likes a rigged game, right, And that's you know, part of what bit fixes. It's like, Okay, well,
here's the rules. The same for everyone. And I don't care if you're you know, black, white woman, kid, child, mom, grandma. You know you've got three heads, five legs, doesn't matter. It's the same for everyone, and nothing anybody can do can change that. So that's the ultimate definition of fair. But it will ultimately result in an unequal distribution, which is perfectly fine because that's what we do as human beings.
And then you and I are different, and then you know, the bitcoin will flow to whomever for whatever reason, um, in whatever subjective value someone you know wants to, like, you know, impose on it. So let's take that, which then goes into the next question, which I think is that last piece. So um, people think that people will just hoard a deflation your currency, because if it's deflationary, then the value of that money is going to keep going up. And so if it's going to keep going up,
I don't need to invest it. Why would I spend it. Everyone's just going to hoard it. We're gonna have no velocity and everything's gonna fall apart. M Yeah, well that that would assume that nobody needs to eat and nobody needs to live somewhere. Right, So you know, as much as you want to hoard, you know, your gold or hoard whatever, like I mean, gold was extraordinarily disinflationary. Now it was slightly inflationary, but by and large, like if
that was true, then nobody would have spent gold. So at the end of the day, people need to eat and people need to buy stuff to live and to subsist.
If bitcoin does anything, and you know, it makes us think twice before we blindly consume things, then hey, that's going to solve the problems we have with the worlds that are in terms of like over consumption and pollution and all the junk that everyone's complaining about, Like, you know, don't try and tell people what they can and cannot use, allow them the opportunity to save and decide whether they want to consume or not, because you know, like I
always use myself as an example, like I used to want to you know, buy a motorbike and you know car and nice stuff. These days, I don't care about any of that stuff. Like I've become way more frugal, way more sensible with my money. I think way more long term. I don't consume mindlessly, I don't waste money, and as a result, my probably carbon footprint is ten percent of probably what it used to be as a result. And that's not been through any government intervention, not been
through anyone forcing me to do anything. It's just been through me thinking twice about how much I want to spend that which I've saved. Yeah, yeah, I love that. Jeff Booth talks about that, like all these people trying to talk about, um, fighting climate change, and you can't really affect climate change unless you reduce consumption. And one of the ways you reduce consumption to stop inflation. And
you know, so exactly to your point. And you know, we still want to eat, I still want to travel, I still want to you know, do things entertainment with my family. Um, and still we're still gonna want those. Just to your point, we're going to think about him do we really want them or need them before we do, And then imagine that people will give up their bitcoin if you provide them enough value in return for it.
Totally exactly so, so that touches on the second point, which is now all of a sudden, the incentive is to build things worth buying, not cheap plastic crap that just goes in the garbage tomorrow. It's like I want to buy a useful tool, or I want to buy a useful piece of equipment, or I want to go and have a trip that is really meaningful, you know, I want to like. So what it does is it changes the dynamic from quantity back to quality. Yeah that's huge. Yeah,
which reduces consumption, which is better for everybody. Um, you're listening to the Mark Mo Show. We're talking about bitcoin. I'm talking about the decentralized Revolution, and we were talking about these these fund fear and certainty and doubt headlines one by one. I'm in the studio with Alex Swetzky. You can find them on Twitter at ghost Fetzky. Um. He's with Amber Um you can check him out online Amber dot app, and uh, he was talking about Peter Schiff.
He's poor Peter Shift. He's a gold guy's gonna end up with no um no bitcoin. But with Amber, every time Peter tweets bad about bitcoin, you can set up to automatically buy his genius and you'll definitely end up with more bitcoin than Peter Shift. You can check out Amber dot app. But that's it. Thanks for listening. We'll be back next time.