The Mark Moss Show Jan 24, 2022

it's difficult. It's difficult to understand. I've been studying for over seven years and I'm still trying to figure out what the heck is going on here because it's just evolving so fast. And that's why it's important that you tune in with me each and every week so I can keep you up to date. You know, each and every week I try to give you um some education. You know, I've been studying this for over seven years. You really have to understand six seven different disciplines to

kind of get a grasp of this. And so each week I'll bring you these educational pieces that you can continue to build on and continue to understand. This is better. I bring you the latest and breaking news every week, so you know exactly what is going on. What's happening. And then you can sound really smart when you go talk to your friends because you have to date on everything.

And then I try to bring you some of the best and brightest people in the industry, some of my good friends um to kind of give some different perspectives and so you know, you don't just hear from me, but here from other people. So if you haven't already, because I tell you each and every week, pull out your phone, put a calendar reminder on there to join me on this channel at this time each and every week while I make it the most profitable part of

your week. Now, um, what I want to do today is I actually want to jump into the third and final installment that I've been doing, which I've been breaking the fund the fear, uncertainty and doubt headlines. A couple of weeks ago, I ran a pole and h or I guess it wasn't a poll, that was just an ask on Twitter to find out what are the top objections that people have as to why bitcoin won't work,

will never work, why it's you dumb, stupid, whatever? And I got, uh, I don't know about twenty different answers that I kind of lumped together and kind of group. So about twenty things that are kind of like the most common, and so I've been breaking those down each week. I've gotten through all of them except for these last couple. We're gonna get through them today. UM. So I guess this is kind of a three part series. And if you've missed the first two then you can go catch

those back on the I Heart radio podcast network. You can just search Mark Moss podcast, uh and you'll find it over there. So if you want to, if you want to know, we covered why. Um. If people say bitcoin is not backed by anything, it's back to by nothing. Um, there's no intrinsic value, there's no way to value it. Um, there's environmental concerns, it's a waste of electricity. People want to wait for the dip. People think that bitcoin is

only for a black market criminal activity. It's too volatile and risky. People feel like they've already missed the boat. Um. They think it's too expensive and they want to know about other coins. They think it could be hacked, it could be manipulated. The big one is that the government won't allow it to succeed. So the first ones I just read that was two weeks ago. Last week we covered government won't allow it to succeed. Uh, there's gonna

be regulations coming. The rules could be changed, like change how many coins there are, something like that, UM that it was started by the c i A. And there's like some sort of backdoor UM that it's older technology and there's newer technology around that inflation is needed for economic growth, and that's why I fixed supply would never work UM. And then and then if we did have fixed supply, that people would just hoard it, they would hoard a deflationary currency and there would be no um

economic growth. So that was all last week, so we recovered. That's all the things we've covered the last two weeks, and we're gonna break down the rest of them today and we're gonna put this whole section to bed. I got a lot more topics to get back to you on. By the way, if you're just tuning in, you're listening to the Markmas Show, which of course we're talking about bitcoin and it's decentralized revolue that's happening. It's really big.

It's it's it's really really big. It's a technological revolution that will change the way the world works, and so um, because it's so big and it's so new, it's hard to understand, and a lot of people dismiss it. And so let's break that down. So let's move on to the last couple that I have here, and we have let's see here, there's nothing tangible to touch, right, it's a digital asset, right, there's nothing tangible. I only want things that I can hold in my hand. Um, like gold.

Gold is great because I can hold gold in my hand. And so because of that, I can't trust it. Um, I don't believe it has any value. And um, what I would say to that is a couple of things. So first off, uh, I'm sorry if you're older, but maybe that's like a boomer comment. I mean, I'm I'm kind of getting up there in age as well, but

you know, maybe that's a boomer comment. If you don't if you don't believe in something digital because everything is digital these days, would you say that you don't believe in your music because music's digital now? Like we used to have a vinyl record. Well before that, we used to have an orchestra. If you want to hear Beethoven symphony, you would have to get an entire orchestra to come over to your house or set them up and play it. UM. And then eventually it was on a record, and I

guess that record was still UM. I guess it was still tangible you could hold in your hand, and then it was a it was a cassette and then a CD. But today I stream it over my phone, and so it's digital. And so if you don't trust digital assets, I don't even know what that means. And as a matter of fact, almost nine of all payment transactions today

are done digital. Now for myself, you know, I rarely carry around cash anymore, right, I'm just swiping my debit card or my credit card everywhere I go kind of a thing. And so you're already you're already living in a digital money world, and so for people to think that there's nothing tangible to touch it just seems really strange to me. UM. And again I think it's it's

a probably a boomer comment. Um, I was old enough to have lived without, UM a lot of this technology, but I'm still young enough to kind of grasp most most of it. So I kind of in this like straddle situation. But that's what I just say, I mean, transactions are already digital. We live in a world where most of our assets are digital today. UM, I just had to do some docu signed documents this morning and

uh it was my digital signature. UM. And so everything is digital these days, and so I think, UM, one thing about that I would say is that this is not one that I have on the list. But when we talk about like central bank digital currencies, you've probably heard about that by now. They're you know, called c b dcs central bank digital currencies, And so we know China has already kind of rolled out their central bank digital currency. They've been testing it for over a year.

Their plan is to have a full scale release for the Winter Olympics. That's that's coming up there. But most of the other countries are also working on it. We know the United States, the Federal Reserve is also working

on a central bank digital currency. UM. And what I think a lot of people ask me about that, UM, it's not on my list, But we'll talk about that for a second, because I think it plays into this exact piece of fund that I'm talking about, And a lot of people wonder, like what's going to happen with a central bank digital currency, and will that um take away the need for cryptocurrencies. Actually a lot of regulators

actually think that. UM. I was actually reading today and we'll get to this story a little bit later, but Russias is trying to ban cryptocurrency, is trying to kind

of follow what China's doing. But what they said, and when I was reading through what they were talking about, they said that they think that if they could hurry up and rush out the ruble, the digital ruble, that people wouldn't be people wouldn't need cryptocurrencies because what people really want is a way to transact digital assets, and if they can give them a digital ruble, then they

would need cryptocurrencies. And I think that's just that's just ridiculous. Um. As I said, transactions are digital anyway, and so what I think central make digital currencies. If the government, if the Federal Reserve said, hey, um, you want new stemmy. You want for yours a stemmy, download this app and we'll will put it in there, a lot of people will,

including myself. I'll take fourteen dollars a free money if they want to give it to me, And so I would download the app, I would use it and then everybody will be using that stimulus that would be given to them via this digital asset, this central bank digital currency, and then all of a sudden they would be kind of forced to use it, and they go, well, actually, this isn't any different than using Venmo or PayPal is

actually kind of the same thing. And um, I guess I can use digital payments, and I guess it is kind of convenient and it works kind of good, and I guess I can trust it. And so it would kind of force people to shift their viewpoint on cryptocurrency because they'd be incentivized to use it by by getting

that free money. And then what would happen is they would be looking at those central bank digital currencies in their wallet and go, how come, um, all the prices get more and more expensive, Like why why does it take more of my central bank digital currency, more my digital dollars to buy my regular you know, lunch at my lunch spot or gas in my car? But bitcoin over here it's taking less and less bitcoin to buy

gas for my car or lunch. Like what's going on? Well, maybe I should put my central bank digecurrency into bitcoin, And so I think that it will really help this whole nothing tangible to touch, don't trust digital assets. It'll force people to do. It's kind of like this trojan horse or this gateway drug. If you will. UM, I got more coming up. You're listening to the Mark Moa Show. We're talking about bitcoin. We're specifically talking about the big

objections against bitcoin. I got a bunch more, So don't go away. I'll be right back. All right, Welcome back. You are listening to the markma Show. While we are talking about bitcoin, we're talking about cryptocurrencies, and we're talking about the decentralized revolution that's happening. Of course, we're doing this each and every week, and uh, I've spent the

this is the third week now. I've been breaking down the biggest fud fear, uncertainty, in doubt headlines against bitcoin specifically UM and also some of them applied just to cryptocurrencies more in general. And we've covered a bunch. Um. I just talked about before the break, how people say that there's nothing tangible to touch, you know, you can't

trust these digital assets. And I went into that. Another one that I got in this when I asked the people on Twitter what were some of the biggest ones I hear and they say that bitcoin has an unequal distribution, all right, and so I think that's a big one. I think the world is caught up in this whole uh fair equality situation today, and so that makes sense.

I mean, you know, I uh, I want everyone to do good and you know, I try to help as many people as I can, and um, you know, help out the less fortunate, and that's all great, um, and we should all want to do that. But when you think about equality, I think there's a difference in equality and a difference in fairness. And so what do I mean by that is that, Um, the game of basketball is fair, right, there's a set of rules for basketball, and everybody has to apply to those rules. It's fair,

but it's not equal. So Lebron James is way better than me. I'll never be as good as Lebron James. Um. Now, if they want to equality in basketball, they would allow me to shoot from right under the basket or actually probably lower the basket for me when I was shooting.

And then for him, he would have to shoot further away and they'd raise the basket or some you know, something like that for him, or he would have to play on one foot and with one arm, and I could play with both feet and both arms or something like that, and that would give us equality on the basketball court. But it wouldn't be fair, right, And you see how that's different. And so when we look at people say that bitcoin isn't isn't isn't equal, it's unequal distribution. Well,

I mean that's just life. I mean Lebron got an unequal distribution in in skills for basketball and I didn't. It's not gonna say a bad thing. Um, it's funny. Um. As a parent and previously being a kid, I remember all the time when I was a kid telling my my dad, it's not fair, it's not fair. It's not My dad would go Mark, life isn't fair. And uh. Now as a parent, I hear the same thing from my kids. It's not fair, it's not fair. I said the same thing my dad did, like, life isn't fair. Um.

But you know, we want fairness. I think we should have fairness, but equality is just something we can't have. Now. The part of the thing about being unequal, like in basketball, is that my inequality could be my advantage. So for example, a basketball player maybe bigger, but I might be faster, right, so I could use my fastness as my advantage while he's trying to use size as his advantage. And so that unequal distribution is what allows for this dynamic range.

And that's why basketball games are fun and exciting. If we just had a whole bunch of Lebron James, it probably wouldn't be near as fun as a little you know, I'm not a big basketball fan, so forgive me, but like a little Steve Nash that that was out there, like, you know, that was really quick, um, something like that. But back to bitcoin. And by the way, you're listening to the Markmas Show and we're talking about bitcoin. But back to bitcoin and this unequal distribution. Bitcoin is open,

it's borderless, it's permissionless. Anybody in the world has the exact same opportunity, the same fairness. Anybody can go buy a computer, hook it to the network and mind bitcoin, or anybody could take whatever currency they have and they could buy bitcoin. Nobody's excluded. It's one fair anybody could come and get it. That's what's fair. Now they would say, well, some people are poor and some people are rich, and so the rich people can buy more than the poor people. Well,

that's true, but those rich people can buy more of anything. Um. And that's so that's a that's a different situation. That's more of an incoming equality thing. That's more based off the Fiat money system that we have today. Um. But bitcoin is fair. Anybody can go get it today. And then they would say, well, if all these rich people go buy up all the bitcoin and the poor people can't get it, um, and then the rich people just want to hoard it, they don't want to sell it,

how would the poor people ever get it? And I would say, well, they would get it the same way that they would get anything else. They would get it by providing them a valuable good or service in exchange for it. So if I were to go provide them something of value that they really wanted, they would be compelled to give up some of that bitcoin. And so um it is uh, you know, there is inequality, I suppose, but it is fair and I think that is the

big difference. I think if if you look at basketball, right, it's a fair game, and I think that's why people look at it all right. Um, oh I love this one. This is a good one. Actually, I'm gonna I'm gonna save this one. Let's go to Uh, you can't know that it won't get hacked. So that's a big thing. Bitcoin gets hacked, right, Um, I could lose it, um, And how do I protect it? How do I not get stolen? Or how do I know that the whole network won't get hacked and I won't lose everything? So

that's a good one. So let's let's talk about that. So first of all, as I said, bitcoin is difficult to understand because it's a lot of things, and you really have to know at least six or eight different disciplines in order to really understand what bitcoin is. UM. Part of the reason why is as human beings, we are not good at imagining the future. All we can do is imagine better versions of what we have today.

So we have cars, will have flying cars or something like that, right, And so what we try to do when we have something new, some new technology, we try to put it in relation to something that we know and understand. UM. So for example, Um, hypothetically I wasn't alive at the time, but let's say that when electricity first came out, Um, what what is this? Like? What what is this electricity? What's it gonna do what what

can what can it do for us? And someone might say, well, you know, at the time, it was a light bulb, right, so it's like, well, it's kind of like a digital candle. Okay, so electricity, I get it. I understand electricity. Electricity is a digital candle. And someone might go, well, um, why do we need digital candle? Counts been light for five thousand years kind of a thing like that, But of course electricity became so much more than that. UM. So Bitcoin is a lot of things, and it's going to

be a lot of things. But one thing we know for certain today is it's the most secure computer network in the history of the world. And um not just because it's the most secure network, but because of the design of it, because of the new technology that it is. And so for UH to to kind of illustrate this,

all computer networks or databases today are centralized. So the Facebook database that stores your using name and password and all your images and mind and and and all that, or the Experienced database that stores all your credit history UM or the NSA database where they track everything and

they store out your data in there. Those are centralized databases, and of course UM those companies have you know, buildings and they have I T departments and you know cybersecurity, and they have these these these walls and their their servers are in there, and they take all this time to secure those databases, those centralized databasis. But those centralized databases are big honey pots. When I've been by honey pots, is there's a lot of data and it's a big

score if someone could break in and steal that. And of course people do all the time. So as a matter of fact, you've probably heard a couple of years ago, Experience was hacked. It was the largest data breach and I think US history and hundreds of millions of people's credit history, so security numbers, etcetera. Was leaked onto the dark web. Um, so we see these these computer networks

get hacked all the time. As a matter of fact, the n s A was hacked and then then the NSA is responsible for security in the the United States, and their own network was hacked. And when they hacked the NSA, they stole the NSA is hacking software, which is why we have all these ransomware attacks today. Of course they blame that on bitcoin, but it's because the NSA was hacked and they stole their hacking software. But the Bitcoin network has never been hacked, and it's never been hacked

because of the design. I'm gonna explain to you what that design is and why it's revolutionary and why it can't get hacked or it hasn't been hacked and most likely won't be. I have more headlines coming up. You're listening to the Markma Show talking about bitcoin. I'm going to bring you more of these headlines, explain to you more about bitcoin and why the design prevents it from getting hacked, so you can understand a little bit better. And like I said, I have a couple more another

really really big one I want to get into. So don't go away, all right, Welcome back. You're listening to the Markma Show, and we're talking about bitcoin. We're talking about cryptocurrencies and decentralized revolution that's been happening and right now, specifically, I'm taking on one piece of fund one fear, uncertainty and doubt, one objection to bitcoin at a time. We've been covering it for the last couple of weeks. I've gone through about twenty of them. I got two more

to go, and before the break. I was talking about, you know, Bitcoin is very difficult to understand because, um, it's a new technology and it is a lot of things. It's going to be a lot of things. Um. But one thing we know for certain that it is is that it's the most secure computer network in the history of the world. And I was explaining how computer networks

or databases, I should say, they're big honey pots. There's a lot of data there, so it's there's a lot of reward for a hacker to break in and and and steal the data that's in there, like experience getting hacked or the the NSA getting hacked. Um. But I was saying how that the bitcoin network has never been hacked and the reason why it's never been hacked and most likely never will be. I mean, anything is possible.

I don't deal in the world of absolutes. I think of things in terms of probabilities, So you know, anything is possible. I mean aliens could come destroy the world tomorrow too, But we have to so we have we have to think about things in terms of probabilities. But then we think about, like, well, what's the chance, what's

the probability that aliens would destroy the world tomorrow. I mean it's you know, I guess it's theoretically possible, but it's probably like barely possible, right, And so the same would be with the bitcoin with the bitcoin network being hacked. And so let me explain to you the design and that will help explain a little bit better. So kind

of back to this honey pot, right. So, Um, you know, if I could hack into the experienced UH database and I could steal all the records of every Amerria akin and all their bank accounts and so security numbers, that's that's worth a lot of money, and so a lot of hackers are motivated to do that. Um, if I had a bank and the bank had I don't know, a trillion dollars in the bank, that's a lot of money, and a lot of bank robbers might be willing to

try to break into that. And as a matter of fact, if I could get a trillion dollars out of the bank, I might be willing to spend a few million, a few hundred million to try to hack into that, because if I spent a few a million but got a trillion back, that would be a good return of my

investment on my time. But what if I had a trillion banks with one dollar each, I see now that would not be worth anybody's time to hack into because it would take all this time, effort, and risk to get one dollar, and then I'd have to go to a trillion different banks and do the exact same thing over and over and over and over. So it makes it very, very difficult. That's kind of how the bitcoin

database works. Instead of having one centralized database like Experience has, or Facebook has or or the n s A has, instead of having one, we have decentralized or distributed databases.

So we have millions of databases that are all around the world, and all the databases have the entire same code base, and in order for a transaction happen, all the databases have to agree at once, and if somebody wanted to try to take that over, they would have to take over more than fifty a lot more than that, but at least minimum at least of the network. But

how would they do that. They don't know where they are, they don't even know they don't know where they are, they don't have to get access to them, and they would have to co opt all of them at the exact same time. Which is theoretically impossible. Now I say theoretically, I mean anything is possible, but but on the probability scale, there's hardly any chance that could happen. Now, Bitcoin is an open source network. Everybody can see all the code.

There's nothing proprietary about it. Facebook is a proprietary database, Experience a proprietary to base. The NSA is a proprietary database. But Bitcoin is open. It's open source. Any any computer programmer can look at the code and read the code and build on the code. And we have about a trillion dollars sitting on the Bitcoin network open. There's no there's no building, there's no I T department, there's no UM cybersecurity team protecting it. There's no building, there's no walls,

there's nothing, there's nobody. It's just there. There's open a trillion dollars in the open on an open source network for any hacker to come and get Come and get it, they say, and guess what, It's never been hacked. Now, I would say that a trillion dollars of value they can get from an open source network is probably way more valuable than the credit scores of people from Experience. But it's never been hacked. Now, it doesn't mean it never will be. I mean, like I said, anything is possible,

but it most like it won't be. And it's because of the design the way the technology works. UM. So anyway, that's that, Yeah, you can't and so you can't know it won't get hacked. Yeah, and so you can't. I mean, anything could happen, but the probably is is almost non existent. All right, UM, you're listening to the markma Show. We're talking about bitcoin and and this decentralized revolution. I'm breaking down the fud, the fear, uncertainty, and doubt headlines, one

by one by one. This is the third and final week of getting through about twenty of these. Um. We just covered UM, nothing tangible, I can't touch it, don't trust digital assets. We covered unequal distribution, We covered what happened or you can't know that it won't get hacked. And the last one I want to get into is, um, what happens if the power and the internet goes out? M M. That's a good one. I saved the best for last. What happened? Yeah, what does happen? That's a

good that's a good question. What happens if the power and the internet goes out. So the first thing I would say is, let's talk about the power of the internet going out. So the power going out, Um, like the power going out to like my town, because I can here in California we have rolling blackouts and the

power goes out occasionally. Um. Do we mean like the power to a region the country or you think like the whole the power of go out for the whole world, And like then would the power go out for the whole world and then like never come back or would it just like go out for like a few minutes, And so you have to kind of think about that a little bit further. So, um, let's talk about each one of those. So if the power were to go out in my city, Okay, so what the database is

that I just talked about are decentralized. There's millions of copies of the database all over the world. So if power goes out in my town for a couple of hours or a couple of days, so what right, the database is still running in other parts of the world. Um, And so um, while the power maybe out, and maybe I couldn't use the Bitcoin network where I'm at because the power is out well, I also couldn't use my visa card or my debit card. I couldn't go to

the A T M and pull cash out. Um. I could go to a store, but they wouldn't be able to check me out because their cash registers wouldn't be working. Um. And So while I'm sure if in my town, my city, the power went out, I couldn't use bitcoin, I couldn't use anything else either, and most like, I couldn't even use cash because, as I said, the stores wouldn't even be able to check me out. Uh. The grocery stores food would be going bad and they wouldn't be able

to open up the freezers. Right. So, Um, if the power went out, we have much bigger problems than that. Um. And So yes, temporarily, maybe you know, we couldn't use bitcoin, we couldn't use anything else. Um. But I'm gonna actually come back to that. Okay, let's let's go to a bigger scale. Let's say that the power went out to um the country. I mean, same situation, I guess, um, But but I think what people are more afraid of is they say, what if the power went out to

the whole world? Okay, so the power goes out to the whole world the same same situation as if it did locally. Um, all that now, all the databases around the world, all the bitcoin databases, they all lose power. Okay, well everything did, right. The bank's all lost power, all the stores lost power, the Visa network lost power, everything's lost power or in some sort of like a mad Max scenario, uh kind of situation. And uh, money isn't really good in that type of a scenario. At that point,

we're trading like water for batteries. Right. If you look at when nations breakdown like Venezuela for example, or or even in the United States, I don't know how long it was now, maybe a decade ago. I forget, Like the Hurricane Katrina happened in like New Orleans and they didn't have any power for a couple of weeks, or in New York they had that that really bad storm, kind of same thing happened there, and um, you know, banks stopped working, a t M stopped working, and you know,

people start just bartering. They start trading laundry detergent for bread or something like that. And so you know, in an event where you went without power for an extended period time everything goes down, not just bit coined and you go back to a barter system. But I think, um, what some people think about is they think about what happens if the power goes out to the whole world at the same time. Okay, so, like I said, the databases go down, but when the power comes back on,

the databases are still there. Nothing changed. It's not like they get wiped out magically, so so they're still there. UM. I would also say that. UM. I would also say that the probability of it happening and going out and never coming back on is like, I mean, it's pretty much a zero. And I don't give anything of zero probability, but it's pretty much zero. Because we know how to make electricity today. We know how, Like I can get a flywheel in my yard and start creating electricity. I

can get it. I have a generator in my garage, I can turn that on. I have a solar panel. I can create electricity. And it's like, we know how to make electricity. Once we've discovered fire. We've discovered fire. Once we have fire, it's never going away. Um. There's more to this. I want to talk about the Internet going out as well. Um, you listen to the Mark Mos Show breaking down bitcoin and fud, I got a

lot more. Don't go away, all right, welcome back. You're back with the Mark Ma Show talking about bitcoin and and the decentralized revolution and cryptocurrencies and all that good stuff. And I've been breaking down on methodically, one by one by one, all the fud, the fear, uncertainty and doubt, all the headlines, all the objections as to why bitcoin

and cryptocurrencies could never work. I've been through twenty of them, kind of on the last one here, and I'm talking about what happens if the power goes out and if the Internet goes out. They're kind of two separate things. I'm breaking them down separately. We just covered why what happens if the power goes out. I'm not going to recap everything that I've just said, but bringing it up to speed and so, um, if the power of the whole world went out, Um, like I said, the databases

are still intact. The power comes back on, the databases come back on. Um, nothing else works either. So um, you're kind of in the thing. But but I think the probability of the whole world losing electricity and never coming back is about zero, and I don't give anything that lower. Probably we probably have a better chance of aliens coming back and destroying the world than we do of never having electricity again, because once we've discovered fire,

we've discovered fire, we know how to make electricity. Um. It's not very hard to do, and we're always going to have electricity. Um. And so I think if anybody's really the optimizing for that, like if if they wouldn't buy bitcoin or cryptocurrencies because they're afraid if the power goes out, man, I guess just stacked bullets and water and batteries in your garage and maybe you know, maybe that, But I just I think that the chance of was going back to this mad max endo world scenario is

about zero. Um. But um, something that is possible is having paragua in a region you know people talk about like an e MP attack. Obviously we're seeing right now today war is being escalated with Russia. You know, tensions are high with China, but sphysically with Russia. I mean President Biden was on the news. Basically I don't know. The White House is trying to cover up his tracks. They're trying to say that he didn't really mean to

say what he actually did say. What I always say is I take these people at their word when they say things, I tend to believe it. And so um, he kind of basically said, yeah, you know, Russia could kind of have an incursion onto um Ukraine if it's if it's not too bad, we probably won't do anything. And so h the point is is that we have threats of war and so potentially, you know, we're seeing

a rhetoric being ramped up about a cyber attack. As a matter of fact, NATO put out some news and we also saw SISA, which is the Cyber Security and Infrastructure Security Agency of the United States c s c I s A. They actually put out notice two days ago. It's said, implement cybersecurity measures now to protect against potential

critical threats UM. And so they put this warning out every organization in the United States is at risk from cyber threats and that can disrupt essential services and potentially result in impacts to public safety. Over the past year, cyber incidents have impacted many companies, nonprofits and blah blah blah, and so they're kind of warning about these types of cyber attacks or maybe some sort of e MP attack. Again, if if it takes out of region, it doesn't matter,

big clean will continue working. Um and then um, but but then the Internet going out. So a lot of people think the Internet will go out. What happens if the Internet goes out? Well kind of the same your visa and debit card don't work. Same the A t M probably won't work either. Um And and again like it does the Internet go out like locally? So like for example, when China was taking over Hong Kong in at nineteen UM and all the people were there pushing back.

We saw that China or in Hong Kong, the internet and the cell phones were cut off. And so in that region they cut off the Internet. And so yeah, sure you know that that impacted it. But again it impacted everything. Um. But again do you think this is a global thing? Like the Internet goes out for the whole world? Um. In order to take the Internet out for the whole world, they literally have to go dig up the lines, They have to go pull the fiber

optics out of the lines and stuff like that. Um. The Internet is a stack, and so you know, at the top level we have the Internet Service providers the I s p s and so those can ban you, right, so they can ban you. So like for example, in China, they have the Great Firewall of China, and you know they don't allow Google and Facebook and Netflix and those types of Internet sites, um in the great of the

Great Firewall of China. But people get around it. They use a VPN, you know, and they can route around the firewall. Below that, you have the d n S. The DNS is the domain name servers where it routes a website name to your IP address, and so they could they could take that away. Sure, but like as long as I have the IP address, like I believe, I can still get to a website. Um. Like I said, unless they want to pull the fibers out the ground.

And so if you think they're going to go pull the fibers out of the ground again, I think the probability of that happening is is very slim to none. I would say, you know, if they did that, they're also shooting themselves in the foot because now they can't communicate either whoever they are. I don't even know who they are, um, And so I think that the chance of it going out globally is is again almost zero. Like I said, it could go out in a region like it did in Hong Kong. But here's where we

counter both the power and the internet. So let's say that hypothetically that they did that the power went out. Well, okay, I still have my solar, I still have my generator. I have a have a gerbil in the backyard running a wheel of generating electricity or whatever. I'm still have. I still electricity for myself. And then the the internet and the phone went out like it did in Hong Kong. Right, Well, this is this is the key piece with bitcoin versus

other cryptocurrencies. By the way, you're listening to the Markma Show and we're talking about bitcoin and cryptocurrencies in this decentralized revolution. But this is the key difference is that Bitcoin has a very small database. It's about a three hund gigabyte database and the block sizes are very small and it was specifically kept that way so it can be UM censorship resistant. Um. All the other cryptocurrencies have very big database and they need a lot of bandwidth.

And so because the Bitcoin database is small, um, it's been done already. People have transacted bitcoin over ham radios, what ham radios, overhand radios, but even more than that. So what we saw in Hong Kong is when the phones and the internet were shut down, people there were still community. Then they were communicating something known as mesh networks. And so a mesh network is basically we all take our phones that no longer have internet or phone and

we create our own network off of it. Mesh networks are really popular in your house today. If you go to Costco and buy like a new WiFi home router, they use like a mesh network. So you put like a repeater in every room of your house and you create like your own network. And so we can do that with phones, and we can create our own network and all our phones can kind of repeat off of each other. And they did that in Hong Kong, and we could still call each other. UM, and we can

send bitcoin back and forth via mesh network. We don't need the Internet. We can generate our own power in our backyard and charge our phones. Um and we and we can use a mess network and so um, if the power goes out, if the internet goes out, I think that kind of you know, backs it up. That's that's how it works. Again, the probability of the entire world going without power and never coming back, I think is is it's a fool's Errand to even discuss the

chance of that happening is is pretty much zero. Um. And the same with the Internet's right, unless they're really willing to destroy themselves and dig out all the wires, which I just can't imagine happening. I don't I don't see that happening, And if it does, we'll use we'll

use mesh networks. And also we have satellites now. So block Stream has put satellites into space that are running the whole Bitcoin network in space, and uh, you know, okay, so I guess they're going to shoot those shoot those down too. We have Elon, Musk and Starlink. They've started popping up satellites into space for Internet. So now anywhere in the world, Um, I could get a satellite that's about the size of a small coffee table, and I

could have broadband Internet access anywhere in the world. And so even if they did dig out the wires in the ground, like we got satellites in space. UM, So I think it's just kind of a fool's errand, like I said, to discuss those things, and so hopefully that gives you a little bit of understanding of how that works. And so when you hear those types of arguments or or rebuttals, it kind of helps you think through that.

That's what I'm here for each and every week. I'm trying to bring to you these pieces to kind of help you see through this, because what happens is in order to have an asymmetric opportunity, and that's an opportunity to make that has more upside than downside. And so I think bitcoins has an easy tent X in front of us in the next five years. It's a massive, massive opportunity. But the only way that you can get that massive opportunity, that asymmetric opportunity, is if you have

a symmetric information. You have to have information that most people just don't know. And um, that's what I'm trying

to share with you each in every week. Now. A lot of people are kind of shooting themselves in their own foot or they're listening to the wrong people, and so they have the information about bitcoin and cryptocurrencies, but they fall for these headlines, the fud, the fear, uncertainty and doubt, and so I'm shooting it down for you, one by one, helping you to understand what's going on. You're listening to the Markmas Show where I talk about

bitcoin and cryptocurrencies in the decentralized Revolution. Each and every week, I'm trying to keep you informed, trying to make sure that you can take advantage of the largest wealth transfer that will ever see in multiple generations. And the time is now um for you to grab it. Don't miss it. Thanks for listening.