The Mark Moss Show Oct 20, 2021

information to take advantage of the asymmetric opportunity. Now, we have been talking about UM bitcoin creating equality, equality of an opportunity, and we're talking about how that can change humanity UM and so we were talking about how you know, in countries all around the world, about two billion people in the world today have no access to the banking system, to the financial system. We're talking about how and El Salvador um they are allowed. They can get permission. A

lot of countries can't. They can, but it's so expensive that most of them still aren't able to do that. But now they're able to just going to their app store, download a bitcoin wallet and start transacting on the global economy in real time instantly, and so that increases the equality of an opportunity. Now, another thing is this is not just um to make people's lives in El Salvador better or whatever country. This is better for the whole world.

Think about it, like, how does progress happen? Like, um, you know, new inventions, new technologies, new medicines, things like that. Well, it starts with people being creative, coming up with new ideas, UM, new solutions, UM, trying those out, failing a whole bunch, trying even more, and eventually they come up with new things, new ideas. Now, the more people we have looking at problems,

the more potential solutions will have. This is a big problem that we have in the world today, where we're um, how should I say this? Uh, part of culture will say that. Part of culture wants everybody to be the same. Everybody should be the same, everybody should be equal, we should all we should censor all the stuff that we don't like to hear. Um, you're not allowed to say this. Oh, you can't say that, don't discuss this, um, and things like that. And so they're trying to make everybody the

same equality of an outcome. And that's a serious problem, a very very very serious problem. Now you might think in the short term that's good because people don't see say mean things that might offend you, But think about how bad that is in the long run. So what do I mean by that, well, um, if we're all thinking the same, doing the same things, not able to talk freely how we want, we start losing creativity and then we're not seeing problems and coming up with new

solutions to that. That is a big problem. So as individuals were different, I'm a different than you, You're different than me. And what that means is that when we both look at the same thing, we actually see different things. We see different outcomes or different you know, different solutions that So if we both look at a problem, I might try to solve it one way, you might try

to solve it another. And that's an important thing because we need as many people as we can looking at all the problems that we have and trying to solve them as fast as we can. So I think it probably makes pretty simple sense that the more people we have looking at problems and trying to solve them, the more solutions, the more progress that will have. And so right now, we have about half the adults in the world have no access to the financial system. They're not

in the system. About half of the half the world also has no access to the internet. So imagine if we can bring half of the world onto the global system to start trying to solve more problems, to try to create more jobs, to create more businesses. Imagine how much more progress this world could have. Imagine the net gain for humanity that will come from this, as opposed to UM, the financial system that we have today that

continually pushes more and more and more people out of it. UM. It's not inclusive, it's not driving any form of equal So this is a big deal. UM. And so we're seeing countries doing this, like I said, El Salvador, Brazil and a lot of these poor countries that don't have a lot to lose are jumping on board with that. And we're seeing that happen UM. And it's not just UM these third world countries that are really really warming

up to bitcoin, even in the United States. UM. An earlier session, I was talking about how, you know, one of the biggest objections that I hear about bitcoin or any cryptocurrency for that matter, is people say, ah, yeah, fine, whatever, but you know, the government's gonna make it illegal. And that's typically probably the biggest thing that I hear. UM. I have many reasons why I don't think that's the case, but most recently they told us. You know what do

I mean by that? So we had Jerome Powell, who's the chair of the Federal Reserve, and we had Gary Ginsler that of the SEC. Both said they won't make it illegal because I told us on top of that, UM, I don't think they could even if they wanted to. And that's because the level of in Frenchment that we've made. It's what do I mean by that? Well, now today we have dozens and dozens of senators and congress people and regulators that own bitcoin. They own it, their fans,

they promote, they talk about it openly. UM. In addition to that, we have all the major financial institutions of the United States has also jumped on board. So from Goldman Sachs to Fidelity, the largest money manager, New York Stock Exchange, you name it, they've all built out UM

services to be in bitcoin. Now, if you understand anything about how laws are made in the United States, then you'll understand pretty quickly that one the laws, or I should say, the bills that gets submitted, aren't written by by the by the by the congressmen and senators. They're not written by them. They're typically written by lobbyists and then given the congressmen for them to sponsor the bill. So who are the lobbyists? Oh yeah, that's the financial companies, right. Yeah.

So do you think they're gonna be writing bills and trying to get Congressmen to UM sponsor those bills that would put them out of business, that would potentially cause them to lose hundreds of billions of dollars. I don't think that's going to happen. And so even if we had some you know, some some people in the government that wanted to make it illegal, like Rhett brad Sherman

from California, who has been pretty outspoken about it. UM, he's going to face a lot of opposition, not just from other Congressmen and senators, but from the biggest lobbying groups, the financial services. UM. So that's one thing. Another thing I would say is that UM, obviously, UM, you know, about a year and a half ago we had the pandemic and the whole economy shutdown. You're well aware of all of that. You're also well aware that businesses were

forced to close, businesses were forced out of business. UM. People have lost their jobs. As a matter of fact, I want to give the jobs numbers here in a little bit, um but um, the the in the US, the fellow Reserve and the government has spent about eight trillion dollars in the last year and a half, eight trillion dollars to keep the markets from crashing. Let me let me just put that into perspective for you for a second. We throw these numbers around so big that

we lose sight of how big that number is. But in two thousand and eight, when we had the Great financial crash, if you remember that, right, the great one, the Great financial crash, literally the crash that was going to crash the entire global banking system. It was that big, that bad. At that time, the United States government stepped in to bell out the banks with a seven hundred

billion dollar part loan. So when the entire global banking system was going to collapse, it took seven hundred billion to prop it up, and they ended up they ended up going over a trillion bibo seven done. But let's just call it one trillion. Okay. Now we're saying spent eight trillion in the last year and a half, eight eight times more, all right, So let me just let they just puts into perspective. So if they've gone that far to spend eight trillion dollars to keep the global

markets from crashing. Why would they go make it illegal now and literally sucked trillions of dollars out of the market and crash it like they wouldn't They can't, they would They would completely wipe it now unless they wanted to. But if they wanted to crash it, then why would they have just spent eight trillion dollars to keep it from crashing? They would have just let it crash, right, So, um,

I don't think they will. Now. On top of that, when I talk about wiping out the money, the United States has become the largest UM bitcoin and cryptocurrency center in the world, the largest. Now you may not know what's happened over the last couple of months, but something has been going on behind the scenes, almost quietly, that literally has reshaped the entire global world the map for who controls bitcoin and cryptocurrencies UM and so if you understand that, I think that will help give you a

much clear picture of where this is going. Now. By the way, you're listening to the Mark ma Show, where I bring to you the latest information on bitcoin cryptocurrencies, and of course this decentralized revolution that we're living through. This is literally going to change the way the world works, change humanity, the future of humanity. This is not just

another cool little fad or technology. It's a revolution. And if you want to take advantage of the greatest wealth transfer that we've ever witnessed, then you have to take part of this revolution that's building. And the best way to do that, to have your edge is to have this information most don't have. So you're listening to the Markma Show. I'm gonna be right back with more. All right,

welcome back. You are listening to the Mark Ma Show, where I bring to you the latest on bitcoin, cryptocurrencies, and of course the decentralized revolution leading to the great wealth transfer, the biggest opportunity that you will ever see in your lifetime and probably multiple lifetimes for that at her. The way to participate in it is to have the information that most people don't have, which is why I

bring it to you each and every week. So make sure pull out your phone, put a calendar reminder, tune in with me each and every week on this station so you do not miss it. I mean seriously, not to be over the top, but literally one little piece of information could change everything for you. All right. Now, by the way, follow me on Twitter one Mark Moss. I'm at one Mark Moss. Send me a tweet, tweet at me. Tell me you listen to me on the show. Asked me a question, I'll make sure to answer it

on the show next week. So pull out your phone. Follow me on Twitter at one Mark Moss. Now before the break, we were just talking about, uh, lots of things. We've been covering a lot of ground here, which is why you gotta set the calendar reminder, you know with me. But we're talking about, UM, how the level of entrenchment of bitcoin in the United States has gotten to a point where they just they can't make it legal. They

literally have told us that they won't as well. UM and UM, something I was I was, I was hinting towards something big happened over the last couple of months. UM that really has seem into the United States position in the world in bitcoin. And what I'm talking about is UM. Well, earlier I said that probably the biggest UH complaint, the biggest thing that I hear about bitcoin is that they're going to make it illegal. Okay, So that's number one. But we just we just answered that one.

The second one is that, yeah, but China controls it all, right, China, China controls all the mining, right, they control the network, etcetera. Well, I've always said that that that's not actually true because the miners don't actually control the network. It's actually those who run the database, which are the nodes. Um. But but anyway, UM, China did have over fifty one of

the mining capacity. Now, UM, I don't want to get super deep into the technical side of it, but let me just explain to you what that means real quickly. I don't want to get deep into the technical side because I don't think it matters. I don't know that's the blunt statement to say. But you are listening to

me right now on the radio. How is it that my voice is getting through whatever this mike is on my desk and going through some wires on my internet right now, and then going through some radio waves and then somehow hitting you in your car or wherever you're at listening to me. How does that work? You have no idea need to do I and I don't need to know how that works. What I need to know is that the radio is a very valuable tool to

get me information. So I do know that, so I know that I need the radio, I use the radio. I don't know exactly how it works, and bitcoin could be the same way. It's very important for you to understand the problems that it's solving. Um, you know, potentially where it could go, how it could change things, how could fix things, etcetera. It's important for you to know that the why the why about bitcoin. The what isn't so important in my opinion. Now some people are just

tech tech eas um maybe tech nerds. Sorry if that offends you, tech ease and you want to figure that out, and that's great, and there's there's plenty of resources for you to do that. But I'm not going to dive into that on this call right now. UM, But back to um, just just to give you a high level view the way the bitcoin network works is the bitcoin network itself, first of all, is a bunch of things. Um.

It's like a digital cash or it's like a digital gold. Okay, sure, UM, it's it's it's so much more than that one thing that we do know for sure, because we don't know all the things that will become in the future as a new technology. One thing we do know for sure is it's the most secure computer network in the history of the world. Period mic drop. That's it, the most secure computer network in the history of the world. Mic drop boom. Let me tell you what that means. So

you're probably aware. It's been all over the news lately. Uh, cyber attacks, cyber pandemics, all these things, right, ransomware attacks. UM, the Internet's under attack. It's a dangerous place. That's all part of the World Economics Forum trying to lead us into this global ID system that they're that they want to enact. UM. But we're seeing the attacks happening all the time. And when he saw Experience is hacked one of the credit bureaus, and more Americans information got leaked

and stolen onto the web than ever before. From the Experience act UM, we saw even the n s A, then the n s A of the United States, the National Security Uh oh uh, shoot, I don't even know what it stands for. UM's the n s A were hacked. And when they hacked the n s A, what did they take? Oh, they hacked, they hacked the n s A,

and they stole their hacking software. The National Security Agency. Sorry, so the national level intelligence of the United States, the Department of Defense, under the authority of the Director of the National Intelligence. The n s A is responsible for global monitoring, collecting, and processing of information and data for

foreign and domestic intelligence and unenter intelligence purposes. Okay, talk about the National Security Agency, the n s A. They were hacked, and when they hacked the n s A, they took their hacking software, which has led to all these ransomware attacks that we have all the time. That's great.

So if if the if the government's own agency that's responsible for national level intelligence under the Department Events cannot prevent their own network from being hacked, how is any other network going to be able to prevent itself from being hacked. I mean, I'm talking about the most secure computer network in the world in some building with full time you know, security going around it, blah blah blah, and they couldn't prevent it being hacked. The bitcoin network

is different. The bitcoin network has no security. It has no I T. Department, it has no building, it has no company, no no, no nothing. It's completely open source, so everybody can see the code. Everybody has access to the code. Anybody can remember we talked about the banking system being permissioned. The bitcoin network is permission lists. Anybody can join the Bitcoin network without having to get permission, like I said, So it's open, permissionless, and there's there's nobody,

no building, nobody watching it. And there's as of now, there's over one trillion dollars of value sitting there in the open, unprotected. Come and get it, Come and get it. Uh alert alert alert, all hackers, come out and get the money off the bitcoin network. It's not protected. It's open source. I mean literally, they've hacked every other network, but the Bitcoin network. It's never been hacked ever and

most likely never will. Now why is that? That's because it's a brand new technology that's never been done before. It's a technological revolution. And so the way that it works is that instead of having one centralized database like the n s A has, instead of having one, you have hundreds or thousands or even millions of copies of the database floating around. Um. Everybody runs the entire database right now today the database is about three hunter gigabytes UM.

You run them on what's called a node. I run two nodes, one of my house in California and one of my house in Puerto Rico, and lots of other people do as well. So you have the nodes, all right, that runs the database. Now or a transaction to happen, the databases have to achieve consensus. That means more than have to agree that this transaction is valid. But how do the transactions get processed or put to the nodes? That is done by the miners. So miners are specially

purpose built computers that process transactions. I don't want to go super deep into this, but I'm gonna give you just a little bit more so you have a base understanding of this, because you need to understand this to under stand how the United States just took leadership in the world. So you need to understand this. I'm gonna

explain a little bit more to you. You're listening to the Mark Mos Show, where I bring to you the latest information on bitcoin, cryptocurrencies and this decentralized revolution, so you have the edge and you can participate in the greatest wealth transfer and history. I'll be right back, all right,

welcome back. You are listening to the Mark Mos Show, and I'm bringing you the latest information on bitcoin cryptocurrencies, and the decentralized revolution literally leading to the biggest opportunity that you'll ever see, not just you'll ever see, but that will have been seen in multiple generations. It's that big, leading to the greatest wealth transfer in history. Now, before the break, I was talking about a little bit about

the technical side. I don't want to go super deep in the technical side, but I was explaining to you that this new technological revolution Bitcoin, what is it right, Um, it's a bunch of things. But what we do know is it's the most secure computer network in the history of a world. While we're at a time right now where almost every other day you see a new news

headline about networks being hacked. We talked about how even the n s A was hacked, which is the National Security Agency, which is the national level of intelligence for the entire United States. Even they were hacked. But yet the Bitcoin network is completely open. Um, nobody's there's no company, no one monitoring it, no one and protecting it. But yeah,

it's never been hacked. And the reason why is because the database is decentralized, meaning instead of having one centralized database like the NSA has or like Facebook has, instead of one there's a million or whatever hundreds of thousands of databases running all around the world, and so they have to achieve consensus in order to verify a transaction. But how do the transactions get put up to the nodes. Well,

that's being done through miners. So a minor is like a as a specialty built especially purpose built computer UM that can hook into the network and help process transactions. Now, remember if you're with me before the break, I said that Bitcoin is open, and it's that means anybody can have access to the code, see what's happened on the code. It's also permission lists, so the banking system is permissioned,

which is why most people can't get into it. Facebook is permission You have to have permission to join it and they don't even barely give you any a p I S if you want to connect anything to it. But the Bitcoin network is open and permission list. Anybody can just join, anybody can see the code, anybody can start building right on top of Bitcoin. And yet it's never been hacked. And so the miners. Anybody could buy a computer, a mining computer, and you could hook it

to the network and you could just start mining. No permission is required now in exchange for helping process transactions on the bitcoin network, you earn rewards, right, you get paid for that. It costs money to buy the minor, to buy the computer, it cost money to buy the electricity to mind to power the minor, and so in return you earn a reward. UM. You make money back UM. And you earn rewards two ways. The first way is through block rewards. And so what that means is that

for UM, the more UM, the more blocks. So the more let's just call it, the more processing that we do on the network, UM, we unlock new bitcoins, new new coins, new rewards. There's about as of right now, there's nine hundred new bitcoin unlocked every day. UM. That amount gets cut in half every four years. So the last we call it a having was was May, and the next one happens in four years from that date, so and that will go from nine hundred down to

about four bitcoin per day. So UM. The miners are earning rewards two ways, one unlocking new coins and two they earn a percentage of the fees for processing the transactions now UM back to the minors. So the miners are the ones that process these these things and earn the rewards, and so over fifty about approximately, even if the sixty percent of all the miners, all the bitcoin miners in the world were located in China, and so a lot of people were saying, oh, shoot, you know

China controls the network. That's so dangerous. They could potentially take over the network. You know, they have over, they have over, they have consensus. If they all organized and got all their miners to get together, they could attack the network and things like that. And you know, while I said earlier, it's the nodes that actually run the database, not the miners um. So really it wasn't that big

of a threat, but it was still there. They were that they could have they could have done something malicious. But a couple of months ago, China decided that they didn't want them bitcoin miners to be in their country anymore. As a matter of fact, I'm calling this China's second fatal mistake. Yeah, that big, China's second fatal mistake. So the first fatal mistake was about a hundred and I don't know, a hundred and fifty years ago. Years ago,

the entire world started moving to a gold standard. They decided that gold was better money UM, and so everybody started moving over. Well, China didn't want to move to a gold standard. China wanted to stay on a silver standard. Well, the whole world went to gold, China stayed on silver, and guess what, it didn't work out too well for China.

China lost big the whole gold one they lost with silver, and they lost their position on the world stage as a global power UM in the early dreds around thirty they had to give up on the silver standard UH, and they had to switch to a gold standard like everybody else did. For the last hundred years, they've been trying to get back to a position of power. They have become the largest holder of gold in the world.

They've had a policy for about the last decade or so where anybody could come mine gold in in China, but you weren't allowed to send the gold out of the country. Any gold that you might mind in China had to be sold back to China. UM. And they also imported mass amounts of gold. So it's estimated that China holds over thirty thou tons of gold, which makes them the biggest gold holder in the world by far

and away. By the way, you're listening to the Mark Mass Show where I'm talking about bitcoin, I'm talking about cryptocurrencies, and I'm talking about the decentralized revolution. Make sure you're tune in with me each and every week on the Mark Mass Show. Tweet at me. At one Mark Moss asked me some questions and I'll make sure to answer those for you. Um So China made that mistake? Um uh.

Sticking with silver, they spent the last hundred years acquiring the most amount of gold and they finally become the largest gold holder. Congratulations. They also had the most bitcoin mining happening in China, and they could have done the same thing with gold, which is, hey, you can mind bitcoin in uh in China, but you have to sell all the bitcoin to us, just like they with gold. But they didn't do that. A couple of months ago, they decided to kick all the bitcoin miners out of

the country. Get out of here. We don't want you here. And I'm calling this the second fatal mistake because they tried to hang and when the whole world went to gold, they stayed with silver and they lost big. Now the whole world is moving to bitcoin and they're trying to stick with gold, they're a step behind, and I'm I believe this was their second fatal mistake. Now they went

ahead and shut down. So remember I said that they had about six of the bitcoin network there and they literally shut it off, kicked it out of the country. I mean, within days we saw over half of the network shut down. Literally, it was it's the largest attack we could have ever imagined to happen on bitcoin um. And it happened, and the Bitcoin network didn't even skip a beat. Didn't even skip a beat. It kept going.

Share transaction times maybe got a little bit slower, a little bit more expensive, but it didn't really affect things too much. Now, all those miners had to pack up and move, they had to leave. Where are they going to go? Well, the majority of them, a good majority of them moved to Texas. They moved to Texas. That's right. So the United States became the big beneficiary of this. As a matter of fact, like I said, it was,

it was Texas. And the reason why Texas is because of the massive amounts of energy that's being wasted over there. Now I say wasted because there's also this narrative that bitcoin is a waste of electricity is a waste of energy, and that couldn't be further from the truth. Um, it's a well, i'd call it a misleading in the headline, but it's kind of a dishonesty at least, it's an

intellectually dishonest lie that the media is telling you. Um. Bitcoin goes to where there's wasted electronic electricity, where nobody's using it, so it uses trash, it doesn't use anything that's in demand. I'll explain to you what I mean by that, what's happening in Texas and why now the United States is leading the world in bitcoin. Um, because

this has massive implications that you need to know. Like I said that, it's been like the number one thing that I hear from people is like, oh, yeah, the government's gonna make it illegal. But as I said, uh, they're not. And I've given you many of reasons why. But now the United States has taken the lead of the world. It's up to our our best interests. It's

a national security issue. If we want the United States to continue doing well, for people in the United States to continue doing well, Um, then it's in the United States best interests to continue to allow this to happen. So I'm gonna explain to you why that is, um and we'll talk about the power, why Texas and so

much more. Like I said, you're listening to the Mark Moas Show, where I'm bringing you the most up to date information on bitcoin, cryptocurrencies and the decentralized revolution each and every week, so you have the information that you need, the asymmetric information to take advantage of the asymmetric edge, the asymmetric opportunity that bitcoin presents the greatest wealth transfer in the history of the world. Again, you're listening to

the Mark of Show. Put it on your calendar, be with me every week and I will be right back. All right, welcome back. You are listening to the Mark Moss Show, where I bring to the latest information on bitcoin, cryptocurrencies and the decentralized revolution each end every week. I mean, I'm bringing you the information that you're not gonna hear anywhere else, and it's the information that you need to

have the edge so you know how to participate. What happens is, you know, anytime that you buy something that you don't fully understand then and you don't understand why you bought it or where it's supposed to go in the future, then you can easily be shaken out of that. Um. Let's say that you saw somebody on TikTok or Twitter say you should buy this cryptocurrency or bitcoin or whatever, and you just buy it because I don't know, they

sounded good, they're convincing or whatever. Um. But then the price, you know, the price of bitcoin dipped from sixty five thousand all the way down to like thirty and then you're like, oh my gosh, I can't believe it. I just lost half my money. I better sell as fast as I can. Well, if you really understood what it was, what was going on, and most importantly, where it's going in the future, you probably wouldn't have sold and you would have held on and it would have made all

your money back. And so that's why it's important for you to understand this. Um. Unfortunately, well it's not unfortunate. As a matter of fact, it's not unfortunate. It's actually fortunate. Uh. Fortunately, bitcoin is volatile. It's very, very volatile, and that is a good thing. Why why is it a good thing? Well, because volatility works both ways. If there was zero volatility, then the price doesn't go up or down right, it

works both ways. How does an asset like bitcoin go from zero to being worth fifty eight thousand dollars without volatility? It doesn't. It can't, right, um, And so we want the volatility because we want the price to keep going up. I think we could see it be worth five hundred thousand dollars. I think we could see one bitcoin worth one million dollars. But it won't happen in a straight line. It's going to constantly go up and down, up and down, up and down, up and down as it continues to

go higher. As a matter of fact, um, since bitcoin has come out over the last now about twelve years, UM, every single year the lowest point, the lowest price every year has been higher. So it seems very volatile. But if you looked at the lowest price point every year, it's always gone up except for one year that was um and so it's volatile. But how do you A lot of people said, oh, I wish I could have had if I could have a time, magine, I wish

I would have bought bitcoin when it was a dollar. Well, I'm here to tell you that even if you bought bitcoin for a dollar, you would you wouldn't still own it today. The reason why is because one, when it went from a dollar to ten dollars, you probably would have sold it, or maybe you held it and it went to a thousand dollars. From one to a thousand, you probably would have sold it. What about when when it went to a thousand and dropped all the way back down to two hundred. Oh my gosh, I can't

believe it. I should have sold it a thousand? What I do? And then it starts going back up to three four hundred and then you sell And now imagine that happening over and over and over and over again for a decade. How would you have ever held it? It wouldn't have been able to. Most people wouldn't been able to. Well. The way that you can is to understand where it's going in the long run and stop thinking about the short term. So UM, that's why I'm

bringing this to you. We were talking about China making the second fatal mistake, UM, kicking all the bitcoin network out of their country, and how the United States has been the big beneficiary of that and it's all gone to Texas. The majority of it has gone to Texas. UM as of now, the United States accounts for the largest share of mining, about thirty five percent of the global hash rate, or that means they have the power of the about the network is in the United States, um,

followed by second, which is Kazakhstan and Russia. At least that's what the data shows, um. And so part of the reason why it's gone to Texas and Kazakhstan and Russia is because of the low energy costs. Right. So, UM, I was talking about this four. You hear lots of what we call FUD. That's that's fear, uncertainty, and doubt. So whenever you hear like a bad article that's bashing it,

we call fud, UM. And we've we've been putting that out and uh, we've been seeing a lot of fud that that that that bitcoin is gonna boil the oceans, that bitcoin's a consuming more energy than small countries, that uh, we don't have this much energy to waste, and all these other things, all this nonsense, right, UM. But I'm here to tell you that that's actually not the case. UM. As a matter of fact, that's not how bitcoin works

at all. So let me let me explain how this works so you can be prepared to not get shaken out. So the way it works is that if I want to mind bitcoin, I have to buy an expensive computer. Once I buy the expensive computer, my only cost is the electricity. Now, um, in California in the summer, electricity can be as high as forty cents per kilowatt hour. Well, you won't any money minam bitcoin at forty cents a what?

As a matter of fact, in order to be profitable, you have to be under five cents a killer watt. And really, if you want to be competitive, you need to be under three cents a kill a wat. Well, where do you find three cent kill at our electricity? I mean, what the heck? How how was it forty cents in California and three? Like? Where where would you

find it for three? It makes no sense? Right? Well, remember if you've been with me the whole episode Supply and Demand, the only places that have three cents a killer watt electricity are places that have more electricity than they have buyers for, meaning that there's all this electricity going to waste, and if somebody just wants to take it for two or three cents, to just come and take it, that is the only electricity that bitcoin is using.

They are not competing in California at forty cents a watt or uh you know, Ohio at eight cents a wat, or why Shington at seven cents. They're not taking any of that power because they can't it's too expensive. They're only going to places where there is excess energy or usually wasted energy um that is not being used. And that's the case in Texas. So in Texas there's oil coming out of the ground. Part of that when they get the oil out of the well, there's also natural

gas coming out of the ground. Now all throughout North America, Canada, North America, Texas, etcetera, a lot of that natural gas isn't captured. Natural gas is too cheap, they don't even bother and so they either do one of two things. Either vent it off, meaning they just let the natural gas just escape into the atmosphere, or two they flare it off, meaning they're burning it at the wellhead. So

they're not even capturing it. They're either literally letting it just go into the atmosphere or at least burning it, which is a little bit better. So what they figured out is what we can do is we can take that natural gas that's not being used and we can turn that into it. We can we can pipe that into a gas diesel generator, and we can make electricity, and we can mind bitcoin with that. So it's wasted energy.

As a matter of fact, it's it's energy. It's potentially I'm not going to get into the science of it, but potentially it could be bad for the atmosphere to leak all this natural gas. So instead of just letting it leak into the atmosphere and being bad, they're actually capturing it and using it for something productive. It's not a waste at all. It's not a waste at all. It's a waste to let that be leak to the atmosphere. And the same as all over the world. That's why Kazakhstan.

Of course, if you know anything about nuclear energy, or oil or natural gas, it's all in Russia and Kazakhstan, which is why again they have so much excess energy that's super super cheap. As a matter of fact, Um, I don't know the exact numbers. I didn't prepare for this, but of all the all the energy in the world, it's like, I don't even want to butcher the numbers, but of all the wasted energy in the world, just the amount that gets wasted. That means the energy that's produced,

but there's no buyers or users for it. Of the amount that's wasted. Bitcoin only uses like two per cent of the wasted energy, not of the total energy. And so that's why now I'm going back to Al Savadoor for a minute. El Salvador has a volcano. Okay, well, what good is that. Well, a volcano with the heat, they can actually use that to turn into electricity. Okay, that's cool, But the problem is that you can't transport electricity, so even if I could get electricity from the volcano,

doesn't help anybody in in El Salvador. So so what big deal? Well, it is a big deal because now we can mind bitcoin at the volcano. So volcano is worthless to Al Savador, and now they can turn it into money and they can use that money to finance other projects in their country like schools and parks and things like that, and so um Bitquin isn't using or wasting electricity, as a matter of fact, it's using wasted electricity.

Electricity that would be going to waste. And now Texas is the big beneficiary and the United States and so UM. If you look at the United States over the last twenty years, what's led to all the growth has been the rise of the fan stocks, Facebook, Apple, Netflix, Google, um, the technology the Internet. And now the United States is sitting firmly in a spot to take advantage of the

biggest technological revolution that we'll ever see, which is bitcoin. UM. Like I said, Texas has been the big beneficiary of the United States. Is coming up. We have in transmitt all through the governments as well as the financial industry. UM. And that's not all. There's even bigger things coming. And I am going to break that down for you in just a second. You will not believe what comes next. By the way, you're listening to the Mark Moas Show, and I will be right back