Bitcoin & The Future of Money with Mark Van Oort - Episode 11

May 4, 2025

Bitcoin & The Future of Money with Mark Van Oort - Episode 11

Kyle: [00:00:00] Mark, you are here 'cause we're gonna talk about Bitcoin. Yeah. You just asked me how I got into Bitcoin. I got into Bitcoin in, uh, I think it was 2017. Mm-hmm. I was, there was a guy, a customer in South Africa that we had that got into it. Yeah. And, uh, he told me to buy some, and I think it was in, in, uh, January of 2017, he buy told me to buy some, and I bought some in September and I took the rush of 2017 rush December,

Mark: October.

'cause I went peaked to December, I think in 20. Yeah. That Right. So, so it went from like, I think two, $3,000 to 20,000 Yeah. In like three months, I guess. Yeah.

Kyle: I'm still not rich guys. Uh, but anyways, yeah. I, I wanted to, um, um, have you on the podcast to talk about Bitcoin. It's a, it's a big topic. Um, uh, and it's kind of, kind of comes and goes in, in the news.

Yeah. And uh, a lot of people still don't know what it is and what it's about. Um, and um, you put on some [00:01:00] Bitcoin, I guess get togethers a couple times. Yeah, yeah. Answer, um, questions for people. So I thought it'd be fun to have you on Yeah. And to talk about it. And there's also a whole big Christian perspective on Bitcoin and.

Which I think a lot of people don't realize, 'cause most people think Bitcoin is just money. Uh, or just a scam or, yeah. Or different things. So, but how, how how'd you get into it?

Mark: So I think it was like, uh, 2013, I think it was at like $3. And uh, we used to play some like video games back in the day, and you would buy currency.

And of course we weren't allowed to use our parents' credit card. So we could, we were like, oh, we could use Bitcoin to buy it and use the Bitcoin and you, there's no backing it or anything. Like you could just send it and you don't need like credentials or anything, like a bank account. So we got some, and I was like buying digital currencies with the digital currency.

It was just video game currency. So nowadays you have like. Fortnite V bucks or anything like digital currencies that, so you burned

Kyle: money in the video game and with that money you bought Bitcoin. Yeah.

Mark: Or vice versa. You would want more money. So instead of like working in the video game to get ahead, you would just be like, oh, you'd purchase it with it.

[00:02:00] So yeah, we bought, I bought it back in the day, so I think, I don't know. It was 20, yeah, 2013. So, and then,

Kyle: and so your motivation at the time was just for the video game?

Mark: Yeah. It wasn't like really knowing anything about it. It was just, okay, this is how you do it. It. So it was like, oh, and then you're kind of, there was also nothing about it back in the day.

So if you had to figure everything out yourself, and it was like, you know, like there was literally nothing. You couldn't Google it. It wasn't like very little talk forms about it to figure it out. So you had to send like money. If you did, you had to send like a check to, like Japan was the only way to get it.

It was like, um, it was a place called again, uh, exchanges to Champ Japan was the only way to get it. So like you're just sending money through mail to even get it. It was really hard to get Bitcoin. It was not.

Kyle: Wait, so how did you get it?

Mark: So like, I would, like, I had my own bank account, but I didn't have any cards on it, but I could still write checks.

So I would write a check. I'd be like, oh, 10,000 or, or a thousand dollars or something, or 30, I think it was like, you know, maybe a hundred bucks, you send it in the mail and it would go all the way to Japan. Um, I can't think of the, the exchange off the top of my head, but it ultimately collapsed too as well.

Um, and so people who [00:03:00] had their Bitcoins and they lost it, but that, so it was really hard to get Bitcoin. Like you, nobody had it. There was no exchanges around, like there was no bank places to exchange it. Like now there's ATMs in, you know, like the Pop o here is a Bitcoin, uh, um, a Tm ATM, right? Yeah. So like there's, they're all over the place now, but back in the day.

There was nothing. So that's the way to get to it? Or you had to have somebody who Later I found out I found somebody who had Bitcoin and then they would sell it to me for like cash in, in Canada now. Okay. Yeah, but this is before that. So yeah, I think it was at like, you know, three bucks and then whatever.

I seen it and jumped up to like 30 bucks and I'm like, whoa. With a kid, I was like, whoa, dude, I'm rich. So like whatever, I bought a truck and this and that, like nothing, nothing crazy. And then kind of forgot about it and didn't deal with it, and then till it was like. I think 2015 or 2016, this

Kyle: mike, a little bit closer to your right.

Mark: So like 20 15, 20 16, it was like, I don't know. All of a sudden, like I heard it in the news. I'm like, oh, it's, you know, it's jumped up to like, you know, three, 400 bucks and I'm like, whoa, was that 30? Right? And then kind of like, then I started like, okay, I have some still, let's look into it. So [00:04:00] I started looking, I'm like, what is it now?

And and learning about it. And that's kinda like when I started going on the rabbit hole. And that's just like, 'cause once you start learning about like what is money and that stuff, it's like, what is Bitcoin? There's so much to learn.

Kyle: Yeah. Yeah. Okay. So that's how you got into it. That's the brief story I get into it.

So for most people though, they have no idea what Bitcoin is. Um, so they know it's something to do with crypto. Um, but before we define what crypto is or what Bitcoin is, um, you thought you may, you sent me some notes beforehand. Yeah. And kind of like how we can talk through this topic. And so you said your, your first thing you wanna talk about is what is money, because you think you need to define that first before you can really talk about Bitcoin.

Yeah.

Mark: So what, we'll just start off like, what do you think of money is,

Kyle: uh, an exchange, something you use to exchange goods for services?

Mark: Yeah. So like a lot of people don't actually think like, what is money? We just use it every day, but nobody even talks about it. It's like when somebody asks you what your wage is, nobody wants to talk about, it's like a thing that, like you just don't talk about money, but like we should.

Because what is money? If [00:05:00] it's the tool you use most every day, like money is a tool to exchange your value and time. So if you work for an hour and you want to exchange that time for something else in the future. You need to like hold it into something. So back in the day there used to be like, oh, let's hold it in bananas or something.

Or like, let's hold it in cows. Because you know, you can't just make cows outta thin air. You gotta like grow the cow, you gotta hold it. Same thing with bananas. You need to put the effort and energy in, but then you realize, oh hey, bananas actually are good because I've put all my money in bananas. They rott, right?

So they don't last They have a time period.

Kyle: Yeah.

Mark: And then they killed like, so I think in South Africa, in Africa they started using beads. So like beads are really rare and they would use that as a form of currency. But the problem was so like, it was great, but there's all these properties of money that you could also, people from Europe could just create beads that have like in industrial and mass produce them.

And same thing in America. They would bring these bees to Africa and now they would like inflate the currency, their bead currencies and exchange these beads for them. And they thought they were getting rich and they were like, oh yeah, I'll take a hundred beads and I'll sell [00:06:00] my kid. Because back in the day, that's how the slave trade started was they thought they were getting rich with these bees because they're getting tons of beads for, and they were like, oh, selling their family members and this and that for slaves.

And all of a sudden I realized that everybody had the same amount and they're worthless. Now suddenly they moved. Like, you know, kind of over the years money has evolved. Then it went to like R Stones on the islands.

Kyle: So, so what of all of the years was, was not how money is used, but. What was used?

Mark: Yeah, the properties of what was used, the properties, what was used, the best properties held up time.

So we got to like gold. You just can't make gold as thin air. So they had gold coins, so you couldn't just go around the world and, and you could obviously find better deposits of it, but you can't just, it's harder to create. So they found that that's a better form of money. So then they used like silver and then they went to gold and it's a better hard form of money, so you, you can't just like melt it down.

You can't have additives to it. So people realize the properties of gold were way better and they started using it instead. The only thing with gold is later on in now our time was like gold is heavy and hard to move. So that's where [00:07:00] it was the efficiency of like our technology now. That's why we kind of went away from a gold standard in 1971.

Was. Well, we can't, we gotta store it here, but instead of moving it back and forth, it's super expensive so it's useless. Like we don't wanna be carrying a gold bar with us when we gonna buy a vehicle or like coins everywhere. 'cause it's heavy and it's easy to seize. So like, you know, we moved off to it and then put it in banks and we're like, we're gonna trust the banks that they have this gold.

But when they went off the gold standard completely, there was nothing back again. So

Kyle: hold up there. So, so I think I've tracked you so far. So they used to use gold and then said. Okay. Gold's too heavy. It doesn't work to move around. So let's just say, um, we're gonna have, for every gold bar we're gonna have, I dunno, a thousand dollars or hundred thousand dollars.

Yeah. And that was like basically to, to in, in replace of gold. 'cause it was easier to move around. Yeah.

Mark: So you could go take that a thousand dollars bill and go back and like, I want a thousand dollars of, or a thousand dollars worth of gold. And you would just, it would be one to one. But the problem is the government started printing more of these, you know, like same thing we have announced fiat money.

That is how fiat was created, was [00:08:00] like printing more of these, these money compare the things. So every, they had every two to one. So then if everybody redeemed 50% of what their gold was, all the gold would be taken and the other 50% wouldn't get it. So that's when like, so they

Kyle: started printing

Mark: too much.

Kyle: Okay. Yeah. And not having enough gold. And that happened in 1971?

Mark: Yeah, well, like before that already, that's 1971 was when Nixon and the States took it off the gold standard because it became such a problem where like, we have to devalue something. Devalue the, the, the, the, the coupons we gave, which we call money nowadays.

And then they just, were like, we're not even gonna back it anymore. We're just gonna. Print the money and it's not backed by gold anymore.

Kyle: And when that happened in 1971, what was the response? Do you, do you know, um,

Mark: anybody who had gold, like it was a, like they, they also cons confiscated people's gold and stuff like that.

So like, uh, I think the US dollar, like technically it's a default. They're defaulting on their dollar. And so the, the dollar dropped. So if you, let's say, had a gold bar, or you had, let's say a thousand bill. All of a sudden it like, if it de devalued by 50%, you, whatever you're holding in that, you know, demo [00:09:00] denomination of that money.

Kyle: Yeah.

Mark: All a since worth 50% less. So the next day moving forward, when they devalued, it was like if you had the gold bar, you could buy a thousand dollars worth of something and then you went, you kept it going and you're like, oh, this, the next day you had that, uh, your bill and you go, you can only buy half of what the gold bar to go, right?

Mm-hmm. So they just devalued the dollar, which is, and

Kyle: so, and then, and so today is gold just, I mean, it's kind of a little bit off topic. Gold just now another commodity like silver and it's not, not at all attached to money at all. Well, I mean, you

Mark: can get gold coins. It's people, like a lot of old people still like, are like, oh, we're gonna buy gold because they know it's being printed.

And so gold has risen, like since 19, whatever, 1971 gold has gone from, I think it's like 2000 American, and at that point it was like $30 American.

Kyle: Okay.

Mark: So the gold has kept up and not devalued against the dollar because there's the dollar has

Kyle: because if, yeah, because, so, okay. Yeah, so, so 19 since 1971, like what you could buy for $1 in 1971 is not at all what you can buy for $1 today.

Mark: Yeah, well just look back in the day, you could buy like a Big Mac for a dollar, or you [00:10:00] could buy a bubble gum for a cent. Now you can't even buy probably a piece of gum for a dollar, right? Like, you just see how the money is.

Kyle: So you're, so you're saying that. Um, the problem with money today is kind of the same as like what you said with the beads.

Yeah. In Africa. Is that just like, because it's just because they're printing so many beads, there's no

Mark: restriction to printing it. Yeah, there's no like, so that's what we call inflation nowadays.

Kyle: And what's the motivation of governments to print it just so they can, because falsely prop up the economy.

We're not

Mark: even falsely prop the economy. It's a lot of, uh, mal incentives. So like, you don't need to go to your taxpayers, you could just print it to fund something.

Kyle: Yeah.

Mark: Like we're gonna get this into later. I think a lot like, so this kind of, we just stick basically on it, is like they don't need to go something.

It's easy. So like you, if you need money, you need to either have austerity by like cutting back stuff. You need to print money. Either that or borrow money or you could tax it. So if you don't want to, like, so three of them are not popular, right? So what's the easiest one? Printing money. And nobody knows and nobody cares.

It gets outta hand really quickly. And we see that. I think in the last, what is it? Couple months, the US has borrowed $3 [00:11:00] trillion. In the last three months, like 3 trillion in the last three months. So you can see how quickly clean rapid is like a hockey stick at first, like, so same with like the Trudeau government.

They borrowed $600 billion in the last two years. So our money supply has, has increased 30% in the last two, I guess two and a half years. So he's printed more money and they've printed more money in the last two years. And they have in the creation of the entire government of Canada

Kyle: ever. So the total amount of, let, let's say, compared to beads, just for, for, there used to be a hundred beads.

Um, at total supply used to be a hundred total Canadian dollars, and now there's 30% more. Yeah. So there's 130, 130. So everyone's money, it's valued, devalued by 30%. And

Mark: we can see that you're just like, oh, some prices are jumping up. It's kind of like everything is, it's like a, an elastic band. You kind of don't know.

Things are as like you want a measuring tape that wants to be true. So like we were kind of like talking about money 'cause Republican can top us later. Again, like money you want, people are realizing that like, what is money? And they're kind of like, it was not holding value. I need to put it into something else.[00:12:00]

So that's like people need to learn just starting off like what is money? And it's a tool to trade value, so why don't you want the best tool? And then that's the, like, okay, then what is Bitcoin?

Kyle: Okay, so I, I understand. Okay. And so that, and that brings us to, I guess to, to Bitcoin. And so you, your argument is that Bitcoin is a better, um, tool store value to store a value then the, the, the current way, um, specifically because there's only a specific amount of it, right?

Yeah, yeah, yeah. Okay. So before we get to the specific amount of, of, of, of Bitcoin and, and why that's different than the other cryptocurrencies out there, what is crypto? What is the cryptocurrency like?

Mark: Yeah, so like. Well, I mean, let's get us, right. So first of all there's Bitcoin and then there's crypto.

So crypto is a lot of different other things. They're they're different. They're different completely. So there's just Bitcoin is Bitcoin and crypto. So, so

Kyle: Bitcoin isn't a type of crypto?

Mark: Well, I mean, it's cryptographically, but most people are like, no, Bitcoin is a whole separate thing. And they, when you classify as crypto, it's usually meaning, but a lot of other things that are, yeah, they [00:13:00] are not honest things or companies or other things.

Or they're, they're meme coins. They're like, meme, you can go create one right now. Like, they're super easy to do. 'cause like, um, and that has a lot of mal incentives because there is no regulations with crypto. I mean, there is a lot now, but a lot of people have been burnt with, but Bitcoin. Okay, so, so what,

Kyle: okay, so what, maybe explain what crypto is and what Bitcoin is.

Mark: So let's start with Bitcoin. So it's like bitcoin. You need, like just to get into Bitcoin and understand it, you need to know, like computer technology, math, like you need money to kind of understand what it is. So it is very hard to understand when you know nothing about it or even let, let, let alone technology.

But Bitcoin is pretty much like a software that everybody runs. It's like the 10 Commandments. There's like, there's rules and everybody runs the same rules and the same software. It's kinda like the internet, so you can, it's like, and a ledger that we all keep together. So it's like if I send Bitcoin from me to you, it's just a ledger with names and addresses on it.

Kyle: And it. Okay. So maybe before we get there, ba back up. How, how did Bitcoin get started? [00:14:00] Like, how, how did this whole thing came to be? 'cause uh, it's still, I mean, there some of the terminology, I, I kind of know what you're talking about. Yeah. But like, think of someone that like, has no idea. Yeah. So, so like it's, I know things start 2009, there was a guy named Yeah.

Mark: So Osh Nakamoto, we don't even know if it's a group or one person or multiple people. We have no idea. He had this anonymous mailing list. He sent it out. He used a bunch of different ideas from other people. He

Kyle: sent what out?

Mark: So he sent out like, uh, like it's, it's a blog, so he's sending out blog posts.

Okay. So it's like, just think of like Facebook and he's updating his Facebook, but it's like a super techie form. Okay. Which so nobody really had access to. That's how it started. So he was like, I have this idea. He brought these, a different couple of ideas from over like the last 10 years together, like, um, like hashing different things.

And then he created the, called the Bitcoin white paper. So it's pretty much like the software and the idea and the equation behind Bitcoin. So he posted that. So

Kyle: he wrote, he wrote like basically a manifesto of like, yes, what is money,

Mark: what is Bitcoin? What is money? Okay. And how to run it. Okay.

Kyle: Yeah. Okay.

Mark: So, and it's, it's, everybody should read [00:15:00] it. I mean, it's surprising how people don't, because it's, it is kind of simpler. There're is some stuff. I think it's only nine pages. It's like nothing. So if you can just skim through it and I'll just like, it's pretty, like, you're kinda like, oh, if you don't have an idea, he li it's only like, yeah, I think it's nine pages.

So he wrote that and then that's when like, so

Kyle: and so, and in in summary, what did he write? He, he, he said, he basically said, okay, the current monetary system doesn't work. Yeah. I'm assuming. And he said, so how does, how does this work? It's like, uh, um, I know it goes over computers and I know there's, yeah.

Mark: So it's kind of not really why like it, so through his posts he tells why he does it, but like the Bitcoin white paper to explain. Just what Bitcoin is, how it works. Okay, so it's, it's the idea of the manifest of Bitcoin. Like okay. Electronic peer-to-peer cash system without any intermediary, electronic

Kyle: peer-to-peer cash system.

Okay.

Mark: So it's like he's the one that created a bearer asset that, so we are talking about gold. When you hold gold, um, you hold it and you own it. When you hold your money in your bank account, you actually, the bank's holding it for you. So when you go to send somebody, you have to go to the bank [00:16:00] and the bank's gotta send it to somebody else.

What a peer to peer means, I can send it straight from me to you. And it's like giving a bargo. So it's peer to peer. There's nobody in between.

Kyle: Okay.

Mark: So that's what that is.

Kyle: Okay. So that's, that's, that's the first step. So he, he set up an electronic money system that's peer-to-peer,

Mark: and then he, um, so WikiLeaks kind of blew up and was trying to use Bitcoin because they got taken off of credit cards because they released a bunch of stuff from the US Army, and then they kind of got, like, they, the US Army and FBI, everyone went after him.

So they started using bitcoin. He's seen that and was like, this is going too big. Like within a couple years. Okay, but before we

Kyle: get there, or is this how to explain it?

Mark: Like this is like who Satoshi Nakamoto is. So like he, he wrote all this stuff. He posted this paper when that happened, he just went awol.

So that means he stopped everything. Deleted everything. And that's why we have no, we don't know who it is or what it is, if it's a group of people or nothing. And that's kind of like, but how it's

Kyle: designed is that it can't be hacked. Right. Or it can't be, yeah. So

Mark: it's like a bunch of rules. Like, [00:17:00] it's like saying, here, here's the chess game.

So it's the rules of chess and it's like you are the one that created chess. You brought the, and you write all the rules down, and then you give it to somebody. Now you have all the rules of chess and you can play chess if you change it. It's not chess anymore. So like, it's just a bunch of rules that you, everybody runs and everybody, like all the software on your computers and nodes run the same, same set of rules.

Kyle: And, and I want, and you can't engage with the software unless you're following those rules.

Mark: Yeah. Like, unless you're running a, a Bitcoin node. Yes. If you change the rules and you're like, I don't want it to be 21 million cap anymore, I want it to be whatever, that's not Bitcoin anymore. Just like when chess.

And so

Kyle: then, so then the system won't let you, yeah. Yeah.

Mark: So just like chess, if you were like, oh, I wanna play chess with you, and you're like, oh yeah, but the ponds are like queens. And then you're like, that's not chess. So you're not playing chess anymore. It's a different variation. Okay. And that's what also people do is they change Bitcoin and they can make their own coins, and then they can change whatever they want and they decentralized and that and those,

Kyle: and that's the crap coin.

Mark: Yeah. They that stuff like, and then you can, yeah. Then you can use that and say, oh, it's better than Bitcoin, and then it gets in value and then people dump on you and then it's not Okay.

Kyle: So [00:18:00] people, so he created Bitcoin and, and so he said peer-to-peer, um, um, electronic money system. Yeah. And so he made, how he wrote it is what like, so I know part of it he wrote, he.

Part of the writing is that there's 22 million of 'em. There's 21 million coins coin, 21 million coins. There's 21 million

Mark: coins. There's like every 10 minutes, there's a block being mined. So it's just, imagine like miners mining for gold. So there's a whole, there's 21 million coins, but the supply isn't all mined.

And so that's, that's what does that mean

Kyle: mined? Like, so like,

Mark: just like, like so there's just say there's, let's say you have a bunch of gold in the world, but there's also gold in the ground. That's not mine yet. Nobody has it. Okay. So people are going to look for and get it. So there's not 21 million Bitcoin released yet.

So they're all there and all accounted for. But like the miners and the computer stuff, the mine for them. So there's 21 million right now I think there's 19 million that are people own. So there's only 2 million left. And the next, I think it's like 200 years. So every four years the supply gets cut in half until we reach the 21 million coins.

Kyle: How would it get, how would it go up in supply if it's getting cut in [00:19:00] half? So

Mark: there's, so 21 million are out there, but they're like, people own 19 million of 'em. There's 2 million that are still need to be mine. But to get released, to get released every 10 minutes by like crazy computers with energy, which is a whole other side of it.

We can talk about it like, like I don't even think we should get in that today Miners, which is like another four hour conversation. Um, but quickly, miners are the ones doing the computing power with the, uh, big numbers to guess a number to keep the Bitcoin network safe. They get rewarded with Bitcoin every 10 minutes.

So there's new Bitcoin. Okay. Back

Kyle: back. But you said you back up to the first thing. You, you, you, you said every four years that supply gets cut in half. Yeah. So right now there's so, so there's go 20, 22 million to 11. Oh, because

Mark: the issu in supply, sorry, I should cleared that. Issu in supply. So right now there's 6.12 Bitcoin being released every 10 minutes in four.

Actually, it's less than six months from now. There's another happening. So that means there's only 3.12 re-released. Okay. Until you get exponentially to like 0.00001 every 10 minutes. And then four years 0.0 0 0 0 0, 0 0.5. Okay. And

Kyle: that's how this guy that designed it wrote [00:20:00] it.

Mark: They want it. Yeah, he wrote it.

That's just one of the rules. And it just gets issued out until the very last 21. And what's the

Kyle: significance of writing it this way? Like, why so this why could, why couldn't he have just re you know, released them all at once?

Mark: Because I think you, like for monetary policy, if you just all released it at once, there's no incentive for the, the, uh, minor network to like, to people to start joining it.

And to extract value from it. So like, okay,

Kyle: so, so the minor network is basically to, um, secure. So if I send money Bitcoin from me to you Yeah. That transaction needs to get verified. Yeah. And that gets verified by a computer. And that computer gets rewarded by someone that Bitcoin it gets released. Yes.

Mark: Every thing. So it

Kyle: doesn't get, I used to think it got taken from the, a percentage of the Bitcoin I sent you.

Mark: No, never. So there's a fee. So if I wanna send Bitcoin to you to use a network, there's a fee. So it's at like, I don't know, 0.01, uh, sat a kilobyte, whatever. So if you do a super com, uh, complicated transaction, it costs more.

But if I send one Bitcoin from me to you right now, it costs about 10 cents. [00:21:00] Doesn't matter the value of it. And where

Kyle: does that 10 cents go?

Mark: That goes to the minors as reward as well. Okay. So minors get two rewards. They get

Kyle: rewarded in from

Mark: the block, from the block subsidy, and then also like block

Kyle: subsidies.

What?

Mark: So that, that's like for me, sending you Bitcoin, there's a little fee on it to subsidies. So like they get fee all the fees, plus they get the blocks reward. From the Bitcoin network that that hasn't incentivize them. Just the stuff

Kyle: that hasn't been released yet. Yeah.

Mark: To incentivize them to be like, oh, we need to use the most energy to move secure and like, so it's six points.

So in 200

Kyle: years, once it's all released, how are then miners will only get paid on? Fees. Fees, yeah. Okay.

Mark: Okay. So that we're just that like. Way, that'd be way down the road. People are like, that might be a problem on the road too. That's a whole other discussion. We can go down to that. Like, I mean, back in the day that was a big thing.

It was like, oh, don't use Bitcoin. It's, it's

Kyle: okay. So I still, I'm still wanna stay on the topic of what Bitcoin is. Yeah. Yeah. 'cause I know there's like a thousand rabbit trails we can go down here. So me and Mark, me and Mark talked about we this beforehand that I'm gonna try to keep 'em on track. So,

Mark: because I'm bad with that.

Like, how, so if

Kyle: you think I'm being a dick, I'm not. No,

Mark: I, I, I can go down something and it'll be an [00:22:00] hour later on a topic and

Kyle: Yeah. Okay. It's not, uh, okay. So we know it's, it's peer-to-peer, uh, um, electronic. Um, money. There's 21 million of them. Yeah. Um, there's about 2 million left. Uh, and that two nine, they get released.

Um, how often?

Mark: So every 10 minutes on average. So it's a bunch of rules. It's like, oh, we want transactions to confirm every 10 minutes on average. So this is all where we're getting the miners. If more people are mining for it, the quicker it comes. So there's a, there's a difficulty adjustment every two weeks to keep it at about 10 minutes.

So why bitcoin's different is the supply and demand. Even if the price went to a million dollars right now of Bitcoin, like $1 million Canadian per one Bitcoin, the supply wouldn't matter. If it was anything else, it would matter because let's say gold, if bi, if gold went to $1 million, right now, everybody in the world reminding it, everybody's jewelry would be coming off the shelves, melting it down to bars and the price would tank because it'd also be way more supply.

Bitcoin doesn't have that. This is the first asset in the world where the supply and the demand is completely different. Okay. So that,

Kyle: so that's the one, that's one thing I understand. So that's the one big. The [00:23:00] thing that makes Bitcoin something that we should consider is because there's a finite amount.

Yes. You can't make more of it. Yeah.

Mark: There's, and you can say about everything, like the most, like on earth, what is the most finite thing? It's like our time and second is Bitcoin because like there you cannot change it and

Kyle: Okay. So it's not like, it's basically the opposite of the beat system. Yeah. There is like, you can't go make more beads.

You can't, yeah. There is nothing, you can't make more gold or, or print more money. Okay. Understood. So, and, and how does it work? So I, I, I, uh, you know, it, it's this open online ledger or something like that. Yeah. There's blockchains. I'm like, what the heck is this? Yeah. So like, so like, really break it down simply.

So, yeah. So

Mark: simply just like, what if somebody didn't know anything about bitcoin? You can just download a Bitcoin wallet on your phone and all. And so you have the wallet and then you could be like, okay, now I have a wallet. That's a place that's like a Bitcoin software.

Kyle: So that in the past you've told me that's compared to like an email address?

Mark: Yeah, it's like an email address for you. It's like, yeah, it's a, um, and then there'll be 12 words on there. So that's your email password and your address together. So it's just 12 words [00:24:00] and that's, you take that, those are 12

Kyle: words. I work. So what do you mean? What do you mean together? Don't you get like a, a long number?

That's your email address basically. Yeah.

Mark: But so the Bitcoin, how it works, those 12 words is all that everything together, it's your password and your email address together. So it's like people get kind of confused about that. So you take those 12 words,

Kyle: you can.

Mark: So

Kyle: why is it that. How does that make sense?

'cause then I would know your password.

Mark: No. Yeah. So that's why you, 'cause I

Kyle: sent, I sent you Bitcoin the other day. No,

Mark: that's, that's just a, that's just a, a, a, a string of numbers, like a Bitcoin address.

Kyle: Okay.

Mark: That's like your email address. So you're, I'm talking about your keys to your Bitcoin. It's like your password to your Bitcoin is 12 words usually, or sometimes 24.

Kyle: Understood. Okay. So you have a Bitcoin address and you have a Bitcoin patch password.

Mark: Yeah.

Kyle: And the Bitcoin address can be compared to an email, email address. And, and the password can be recorded to like a password. Yeah, password to the

Mark: email. Okay. But the thing is the Bitcoin password is, is because you can make multiple addresses like your email address for the same account.

I mean, we can really go into this too is can get deep. But uh, just to sum it up, you have 12 words or 24. They, they hold your, [00:25:00] your, your Bitcoin. So what you need those 12 words to send Bitcoin? And you don't need them to receive. So you can, and those

Kyle: 12 words are not ones that you decide? Those are Yeah, they're just random.

They're, they're random created, um, for each specific address.

Mark: Yeah. Um, well, you can actually create 'em yourself. It's just you shouldn't, because then they're not random. You want to use a proper Bitcoin wallet that randomly does it. 'cause if you think you're random, it's, your people are never random. Right.

So you, okay. And how does it,

Kyle: how does this system know, like, how how many Bitcoin wallets, addresses can, can be made?

Mark: Well, infinity, it's, it's just a string of numbers times a, like it's 2 56 hash. Like you, nobody can fathom what 2 56 hash is. It's like,

Kyle: okay, okay. But, but before we get there, so, so this, the guy that wrote the white paper, he said, okay, I wanna have it in a way where it's this, there's 22, 20 1 million of these Bitcoin out there.

Yeah. That can be, um, you, you can get a quarter of a Bitcoin or a 10th of a Bitcoin, however much you want. And, um, to get one of these, uh, um, so he, he puts it out there, [00:26:00] um, and people start. Basically using it as a monetary form. Yeah. Because they believe it, they like the finiteness of it. They like it that it's peer to peer.

Yeah. Um, and, and, but it and how does it get verified? Like how, how do we know it's secure? How, how does that whole thing, so

Mark: it's, uh, well I mean this like, we're kind of jumping, you know, pretty wide net here so we can just like how is its secure is like 2 56 hash. It's the same hashing and like

Kyle: what's hashing?

Mark: So it's just, it's cryptographic hashing. Like this is like, if we really get into, it's super complicated. So it's pretty much like, I mean, but we're using numbers we want,

Kyle: but we want explain it to my five-year-old.

Mark: Yeah. So hashing like you, it's pretty hard. It's using a bunch of random numbers that's like, let's say you write a bunch of numbers down, that's a si like you literally wrap around the earth times a bunch of numbers and it, it hashing does is like you send a message from me so I can cryptographically hash something and send it to you.

If you can sign it with your key, I know that that number matches that number that times whatever number, and it equals, I've not, so it's so large that like, it's, it's really hard to explain this to [00:27:00] anybody. I think that's something that people don't even know about. It's just, just think of it as a key and a message.

It's like explaining the, the security to, um, websites to somebody who doesn't know it's, it's, they use the same stuff. It's 2 56 hash. It's, it's, uh, you're just using like super sophisticated math to say, I have a message and it's signed by this. And then I get the key and I read it and I go that they match up that that means you sent it and nobody else can because you

Kyle: physically check it or no,

Mark: it just doesn't For you

Kyle: the computer.

Yeah. Just because how Bitcoin is designed. That, is that, that the, the computers check it. So, so everyone has, let's say there's 7 billion people in the world, uh, a people are, that have, um, Bitcoin, basically the computing power is all the computers combined.

Mark: Yeah. So they're just, it's just all, like, Bitcoin is just math.

It's just a bunch of large numbers, and they're so large that like, there's no possibility of somebody guessing it. So if you have a a, a, like your Bitcoin key, there's no possibility of somebody guessing it. Like it's, it's, it's like these stars in the universe times the stars in the [00:28:00] universe. It's such a big number that people can't even fathom.

So, um, when you, when it matches up the, the software just recognizes that and there's, so for somebody to say, oh, hackable, it's, that's, but how does the

Kyle: software, like, like, um, the software on my Mac computer Yeah. Is like Mac, iOS, whatever. Yeah. Like, it's like downloaded on my computer. Yeah. And like if I, um, that, that's how I can use it.

Yeah. Where, where is where? So that's the application. Where is Bitcoin?

Mark: So the, so the app, so the application is you download a Bitcoin wallet on your phone, on your computer, or Harbor wallets we call cold waters. So that's your application. Download it. That application just holds your password. So technically Bitcoin.

Only moves on the ledger that everybody sees. So it's like a ledger right here. Boom, boom, boom, boom. It's in the middle and everybody's access to it and confirms to it.

Kyle: So it's basically a big huge town square. Yeah. Virtual town square. Everybody's

Mark: looking at like a giant Excel sheet and it says Mark sent one Bitcoin to you.

It gets updated and stamped and it's always gonna equal the issuance of the supply and it's all gonna add up to 21 million forever.

Kyle: Right. Okay. So [00:29:00] when, back in 2009 when this started, um, this guy who, who started it, how could he not own 2 million Bitcoin?

Mark: So he, so you needed to mine it, so you needed to put the energy to mine it.

So, so how

Kyle: many, how many were released?

Mark: 50. 50 to time. So every time it says 50 Bitcoin,

Kyle: so, okay. About how much was the supply? Zero.

Mark: Okay. There was no supply. There was, there's no Bitcoin's existence, but 21 million were able to mine. So the miners back then were mining 50 every 10 minutes and then it was, and

Kyle: because there was no value attached to it, or very low?

A couple cents. It was nothing. Yeah, it was nothing. Then they got paid. Basically accordingly.

Mark: Well, back then it started, it was worthless until somebody decided, Hey, I'm gonna exchange these bitcoins for a pizza. 10,000 Bitcoins for a pizza.

Kyle: Yeah.

Mark: Which is like, I dunno, a couple billion dollars. Okay. It's ridiculous.

So like, then it kind of started people like, oh, I want to buy it. And, and market started. So like, oh, and I think it was like a hundred Bitcoin for 3 cents was like the first ones. And then exchanges came up and like, Hey, well the, the, the more people join this network. So Bitcoin's not only just like a software, it's a [00:30:00] network.

Just like our computers are a network. If you have the Euro own computer by itself, it's worthless. So you need the whole internet around sending each other as well. So Bitcoin is not just like, so that's why other

Kyle: people, so, so people, so I mean, I've heard it argued before that like, oh, it's not secure. Uh, um, like, and like, what is it?

What's the value? The value is whatever. Um, the market says it is, the market says it is just like real money. Yeah.

Mark: So then why does it have value? So we, we can get us in a bit too, is like, what are the properties of, of Bitcoin and why people think it has value more than what it is. And that's why Bitcoin's at almost $50,000 Canadian right now.

It's like some pe people are valuing it. 50,000 Canadian for a reason and why, what is that reason? So that, like, let's go back to like what is Bitcoin too? So like you have a wallet now you have your 12 words or 24 words. Those are your access to that Bitcoin. You need to write them down and some are safe because if you lose those 12 words and somebody sends you Bitcoin and you don't have 12 words anymore, like your phone will just keep a minute or your, your computer.

But like you [00:31:00] also, let's say you lose your phone. And you don't have 'em written down to, to open a new wallet and to get access to that Bitcoin, just like your access to your email, you need to write the password down. So let's just like be clear on that. If it's not your keys, it's not your Bitcoin. So if you don't, okay, so that's what

Kyle: the story of that one guy that, like, he found out that he had Bitcoin.

He had bought Bitcoin one day. Yeah. Threw his, he was mining it and his computer, he was mining it and he threw his bi he computer away. Wait.

Mark: Or his mom did actually, I think it was a story. So, and then he had, I think it was like a hundred thousand Bitcoin on it. So it's worth, I don't know, in some, something like $2 billion.

Kyle: So, and, and, and, and, and because how the system is designed is like, that's not hackable. Like that's it's not, yeah. If he doesn't find his computer again, it's gone forever. It's gone forever. So

Mark: he's trying, all he is trying to do is find that computer and look for those 12 words. Yeah, that's literally it.

They're just looking for a string of numbers. Which is 12 words, that's all they're looking for. So you just, and there's

Kyle: no computer in the world that could figure that out. No,

Mark: it's two 50, like 2 56 hash. Like, um, if there's this good YouTube video on like how 2 56 hash works, it's like an older looking video.

Like people should [00:32:00] watch that to understand like,

Kyle: okay, so the specifically the 2 56 hash, if you YouTube that you'll be able to find a good video on. Yeah. Just

Mark: like what is 2 56 hash? 'cause the thing is too, so even if we get like super crazy quantum computers for 2 56 hash, we can just update the Bitcoin network and do use 2 2 11, the next one up.

Like it's not even something that's a big issue. You just have to re-up update your wallet and then they, we would use a different hash algorithm that's even larger than the current one. So that's like when people say it's hackable, it's not, I think a lot of people get in, oh, Bitcoin was stolen or something.

The bitcoin network ev never has ever been hacked because it's so mathematically impossible. However, people's passwords have, so there's exchanges like Quadri in Canada that went down and people lost their Bitcoin on that while they were, somebody was holding their Bitcoin for them. And those. Okay, so

Kyle: they used, they used their exchange like a bank account.

Yes. Yes. Instead of holding it themselves. Yeah.

Mark: Which is not the point of Bitcoin. So the exchanges you can hold just like a bank account. The bank owners left the vault keys out and somebody found the vault keys. So a lot of times a Bitcoin, they're like, oh, Bitcoin got hacked, is [00:33:00] not hacking. It's some they, somebody else left their password somewhere and somebody else found the password.

And then once you have the password, you can punch it in any Bitcoin wallet and you can move it to your own wallet.

Kyle: Okay. So lemme try to recap here. So you have an open ledger, which is basically just like a big. Public thing where you can see exactly where, what Bitcoin is being sent from what address to what address.

Yeah. Those get verified by other computers. By miners. Yeah, by miners and those, that's how they get paid. And um, one of the ways to, uh, buy an exchange Bitcoin is people are setting up an exchange. So rather than ship sending a check to Japan like you used to Yeah. You now can go to Riga Or finance Yeah, like finance shape, pay Canada, and you can coin basically, you can basically trade Bitcoin on those websites, but they just up, they have to upload it to the ledger again for that to work.

But they get a fee somehow, I'm assuming. Yeah,

Mark: so no, so they, they're just, they just have their own wallet. So they're, you're just holding their Bitcoin on behalf of. So if you buy Bitcoin and they're like, oh, I want to buy one Bitcoin on Shake Pay. Yeah. And it says my Shake Pay account. I have one Bitcoin.

Kyle: Yeah.

Mark: Shake Pay is just holding [00:34:00] that Bitcoin for you on their wallet.

Kyle: Okay, but what, but how come I have it? How come I have my like 16 numbers on, on Shake Pay?

Mark: So Shake Pay is holding it for you. You can send that Bitcoin off shake, pay to yourself on your own phone or wallet, which you should do. So it's like, like I said before.

And how did an,

Kyle: how does an exchange make money?

Mark: So exchange usually buys or sell it at different prices than what it's worth. So it's like you want to buy Bitcoin at $50,000, you can buy it from Shake Pay for 50,100. Ah, okay. And you can sell it for 49,900. So it's like a $200 spread. That's how most exchange to make money or it's fee based, where it's like, if you buy and sell, it's gonna cost you a percentage of what your thing is.

Kyle: Understood. Okay. So that's, so you're saying how in, in the past when there's stories online of people getting hacked and stuff like that, it's not, it's not Bitcoin. Bitcoin not getting hacked. It's that these exchanges aren't secure. Yeah. And, and, and they're people are leaving their passeng. Yeah, they're just be

Mark: doing malpractices or like, like Quada.

It was the owner that took it. He just was like, that's my Bitcoin. I'm leave. Or like FTX that collapsed. He took the Bitcoin and sold it. People had [00:35:00] Bitcoin on exchange. He took it and sold it. And then of course when people wanted their Bitcoin back, there was no Bitcoin and you can't create Bitcoin again, even as much as you wanna, you know, lie about it or deceit about it.

Kyle: Yeah. There's

Mark: only, there's, if you send one Bitcoin, I didn't want Bitcoin back. You can't just make more of it. So the exchange collapsed because they were supposed to have, I dunno, something like 30 billion Bitcoin or something crazy, and they didn't have any, they sold it. So all those people who had Bitcoin on the exchange, somebody else sold it from, that's not their Bitcoin anymore.

It's gone.

Kyle: Yeah,

Mark: it got sold.

Kyle: And, and so that means that, um, you, you can hold bitcoin. If, if you have a, an, uh, a Bitcoin, uh, address where people send money to, and if you have those 12 words memorized, let's say you don't, you don't need to physically have it on a hardware piece anywhere, right? No, you

Mark: can, you can.

This is the crazy thing about Bitcoin. You can literally go anywhere in the world and memorize those 12 words and you have your bank account in your head. Like, think how crazy that is. Like you can just go anywhere and you have access to your, so why don't

Kyle: some people still have it on a, on a USB drive on their safe?

Mark: it's like [00:36:00] maybe if you forget it, that's a problem. Because if you forget those 12 words, it's gone. So you should probably not do that. Okay. So

Kyle: basically what you have in your safe when you have a cold wallet is, is 12 words.

Mark: 12 words. That's it. Literally just a string of your hash 2 56. It's your key to say that you have can access this Bitcoin and send it.

Kyle: So that, so that, does that mean then if I have a Bitcoin address, um, and you want to send me Bitcoin? I don't need to. Do anything you can, you don't need anything.

Mark: If you send me that Bitcoin, that's an address to your 12 words, that's your email address you sent to me. I can send Bitcoin to it. Whenever, however, doesn't matter.

You don't even need to be around. You could be, you know, long gone or send it to somebody else.

Kyle: So this guy that has his, uh, his, um, I a hundred thousand Bitcoin in the bottom of a, of a, of a landfill somewhere on a computer, I could technically still send, send him Bitcoin. I could send him Bitcoin. Anyway,

Mark: it's just gonna continue to be lost because nobody has access to that Bitcoin.

Kyle: Okay?

Mark: So Satoshi Nakamoto has, I don't know, I forget how much, but it's close to a million Bitcoin. And people send it Bitcoin to it all the time, but we don't know where he is or what. It's the, you know, [00:37:00] it's funny, it's kind of like you're, it's, it's like throwing Bitcoin away or there's been addresses that people are like, oh, this is like a donation address, and the computer created it with no 12 words and they, people send money to it.

Just, just as a joke. Like, okay, back in the day it was like, oh, I'll send, you know, $30 worth, so those 30 bitcoins. But now, like that address has like a serious amount of money in it and nobody has access to it.

Kyle: So basically the amount of, of, you mean you said there's 21 million never can be more created.

It could probably be, yeah. But that, that, that amount is actually going down every day.

Mark: Yeah. Because if people either lose Bitcoin or something, it's technically available. So they actually think there's a couple million Bitcoin that have never moved that are probably lost. People lost the passwords to it, that will never be recovered.

So it's actually the sec scarcity of Bitcoin is always going down because people lose it. But, okay.

Kyle: So, so, okay. So now I sort of understand Bitcoin more and, and what it does and, and how it's different than, um. The other coins out there, which are run like a company. Yeah. One, this is not, they one person, there's no building.

Yeah. For Bitcoin, there's no like [00:38:00] guy that can change the rules and else like that. But like Ethereum and you know, it's owned by one guy,

Mark: they can change it. They have 70% of the supply. We don't even know the supply. Nobody knows the supply of Ethereum, which is kind of a problem because they can just print more.

You don't know. So stuff like that. So, so the

Kyle: problems with those coins is the same thing that with current monetary? Yeah. Well it's

Mark: the same monetary system as what we have now or like, okay. So

Kyle: you see there's a big difference between Bitcoin and all and crypto. Everything

Mark: else. You should disregard if you should.

Like everything. There's, there's nothing good, there's nothing at this point. But what

Kyle: about, like, I know I've heard crypto being used for like contracts or like, I've seen guy open their front door with crypto, like on their, like isn't, isn't the crypto as a technology something that's

Mark: okay. I think crypto is just cryptographically signed means that you can create whatever you want, but you don't need a coin or value behind it.

For something to open your door. You can just open, the new apps are used 2 56 hash two you, you know, like you have, what's it called? Um, eye door or whatever the new ones are you, why do we need a coin behind that? Right? Like, why doesn't there be value behind that? It just works. And you go, okay, but, but it, but it's, but you could

Kyle: write like a contract on the [00:39:00] blockchain and then it can't be basically changed anymore.

If you did it on

Mark: Bitcoin, it can't be changed. But like other coins, they're like companies or people involved where you can threaten somebody and they can just change the code, then that happens. You would never know. So that's the problem. They're not. Decentralized. They're not anonymous. They're not like, so a

Kyle: so a big, uh, so last year when the Freedom Convoy happened and the Canadian government seized a whole bunch of bank accounts Yeah.

They couldn't seize Bitcoin bank accounts. Yes.

Mark: They got sent Bitcoin, like I, I participated as well, a bunch of other guys from Alberta. We, uh, kind of set it up and stuff like that. So they got handed Bitcoin, like through the passwords. So they were auto created wallets for them to sing. That's the only money they ever got.

So I think, I don't know what it was, it was like 10 to $15,000 a person. So I think it raised, um, something crazy like 10 Bitcoins people raised around from all over the world. We don't even know where, because it's anonymous. So it was like 10 Bitcoins that got divided out and given to it. That's the only money they ever got.

And the police could not confiscate it. However, they found out the one person who's in charge of it, and he had some Bitcoin left that he didn't hand out and they took control of that because he had the keys for it still. So that's different. So Bitcoin's completely [00:40:00] open and it's actually really good for law enforcement because you, it's an open ledger, like I said before, Excel, I send money from you to you, and I know both addresses.

I can see who sent to, who sent. So it's completely open. So people are like, oh, it's like, you know, it's, it's a black market.

Kyle: Yeah. Yeah. So a lot of people say, yeah, it's like black market, they use it to ave taxes, stuff like that. I don't, it's the dumbest seems, seems shady.

Mark: So if you actually want to like, off, let's say you wanna get sent money somewhere, it's a open ledger.

It's the dumbest thing you can do for black market. Like, I think it's 0.001% of black activities on Bitcoin. Because if, if you know the address sending to it and who owns it and where it's going, it's completely open. It's like, it's like if you, you watch it. So that's, but

Kyle: that's if you know the 24. Yeah.

So like, if I'm like a, a bad dude in Canada and I'm gonna send money to Mexico, couldn't you just buy a whole bunch of Bitcoin and then just ship it over to Mexico? No one would ever know where it went to, or vice versa. Like,

Mark: so like you, you have to go to an entity. So like, you you mean like send it to the cartel?

Kyle: Yeah. Or something like

Mark: that. So like, you would see that, but somebody's, if, if they want to [00:41:00] go back to fiat money, they have to go sell it somewhere.

Kyle: Okay. So

Mark: if you wanna offload, let's say a hundred million dollars worth of Bitcoin. There's gonna be like, like you, you're not gonna find somebody random to take a hundred thousand or a hundred million dollars worth of Bitcoin.

Kyle: So they would've to keep using it,

Mark: they either keep using it or they'd have to send it to somewhere like an exchange. And exchange is like, where'd you get this money? Or like, red flag. And let's say it's a bad dude. They would be like, okay, this has nothing to, with the Bitcoin network, this is just going, where does that, like we have laws now in place where like any, like, I think it's more than $10,000.

It's all recorded and sent and recorded. So if you send over $10,000, it's automatically be put on a list and everything. And so put on what list were you talking? So like if I send a $10,000 to somebody else, it's automatically recorded and put on a list and it just, it gets going through. So if anything suspicious popped, like, like the government is, the government does it.

Okay. It's all banking requirements and I think they even dropped it now. I dunno. Which it's, it's whatever. It's, but regardless of

Kyle: that, it's, it's on the public ledger.

Mark: It's on the public ledger. So if you know the entity that's receiving it and they're trying to sell it, the bank's gonna go, okay, where does this money come from?

And. [00:42:00] There's a red flag and they're probably, it's gonna get reported to the police. They, or not? Just, it just, it's gonna be added to it. So they're gonna find out real quickly. So if I was a, a robber, let's say selling like drugs out here and the police were following me and they see that I am like, people are sending me Bitcoin, all they have to do is go to the one person that's, that's, that bought drugs off me and seeing what addresses sent to it.

And then now I know what my wallet is and they can go, okay, the exchange, like this wallet goes exchange. Like we could just track it down and know exactly what the address he uses. Like, so black market activity is like one of the dumbest things to do on Bitcoin. There's like, but, but

Kyle: these are for, but maybe it used to be used more.

Mark: Yeah. Because nobody knew about it. Okay. So yeah, back in the day there was called the Silk Road. So the whole reason the Silk Road got shut down is pretty much like a black market web site where you could go to and you could buy anything you wanted. Drugs, guns, with Bitcoin. Well, the reason it got shut down is because Bitcoin is just an open network and they could see exactly where it went and who had it.

Like, so then everybody went to jail who was like, was legal stuff in other countries that we don't have, uh, agreements with, obviously they, their government's dealt with it, but it got shut down pretty [00:43:00] quickly because you could see exactly who and where it went. So like you, it's public. Okay.

Kyle: And so I is, are you suggesting that Bitcoin is used to replace the Canadian dollar or the American dollar, or what is the purpose?

Uh, okay, so I understand it's a better monetary system, but like, like is it like date useful for day-to-day stuff? Like, yeah. I think

Mark: we should go back and say go. Okay, what are the properties of Bitcoin?

Kyle: Okay, let's do, let's talk about that. So like

Mark: what, why does Bitcoin even have value?

Kyle: Let's start with decentralized.

Mark: Yeah. So like we were talking before, Bitcoin's decentralized. So like when you're part of the network, just like you are part of like Facebook, you're, you're not, it's a social network. It's a, it's a money network. So you're peer to peer. So it's, everybody's running the Bitcoin wallets and the nodes and miners are all together inter, like you can send it to anybody, to anyone between just like the internet.

So that means that like if you take one person away, it still runs. You take 90% of the people away, it still runs. Like there's, there's, it's there. And it's decentralized. It's mean, there's no central entity. We all like a bank account or bank, we all don't go through a bank. It just literally goes between me and you and everybody else that [00:44:00] participates.

So it's decentralized. So the reason like Bitcoin has mon monetary value is like certain things like scarcity, there's only 21 million. It's divisible. So those 21 million coins, like you, a lot of people are like, oh, I don't have $50,000 to buy Bitcoin. You don't, you could buy, so there's called Satoshi, it's a hundred thousandth of, uh, Bitcoin.

So when Bitcoin can get divided into a hundred thousand pieces. And it's technically math, you can actually divide even more. But right now it's at a hundred thousand. It's called a Satoshi. So you can buy a hundredth of a cent, you can buy 1 cent, which I think is about 5,500 SATs right now, which is like 0.0, 0, 0 5 of Bitcoin.

You can buy tiny fractions of it, and it's just whatever in your wallet will just tell the Canadian value. So divisible, um, recognizable. Okay. Bitcoin is getting very recognized now. It's, it's come, it's like in the US elections, like people, candidates are bringing it up regularly. Now it's, it's in Canadian government.

The yesterday, the, uh, one of the liberal. Ministers brought it up and was like, Satoshi when he released the paper. It's called Satoshi Day. It's on October, it's on [00:45:00] Halloween. So like he went in there and said, Hey, you know, thank you for Satoshi. And he did it in front of the parliament in front of everybody.

Like So a liberal MP did? Yeah, a liberal entity. It's really amazing. Like, 'cause obviously Pierre brings it up and he's a Bitcoin as well. Um,

Kyle: Pierre is the, the conservative leader.

Mark: Yeah. Canadian conservative candidate. Yeah. And uh, for the next prime minister. So he's, he's been on a lot of Bitcoin podcasts as well.

'cause the same thing. He's like, we have a money problem, we need to fix it. And so another thing too is,

Kyle: and the money problem he says is, Hey guys, like inflation. We're just printing more of the stuff and everyone's value's going down. And pretty soon. And, and so when, when, like, so we see inflation going up, so they increase interest rates just quickly.

Like, doesn't that fix the problem?

Mark: Well. Not really, because the people that are have the most debt, which is the Canadian government, means they have to pay more on their debt, which means they have to print more money. So this is a whole different cycle. People aren't talking about interest rates are actually bad because the higher they raise it, the more interest the government pays on their debt, the more they have to print inflate.

[00:46:00] So inflation or Or raise taxes. Or raise taxes, right? So we're in a whole different cycle that people are not prepared for either because like, they're like, oh, we're just gonna raise it. People are gonna stop lending money because, we'll, we'll get this in in a bit later, but like the reason interest rates bring money printing down is because fractional reserve lending people borrow less, which creates less money, which inflation slows down.

But that's a whole different issue. Okay, we'll go back to the properties of Bitcoin. So ba

Kyle: bear asset,

Mark: so bare asset, it's like you hold the keys to your Bitcoin, nobody else does. So. You actually can hold down an asset that nobody has access to it. So you're holding, you're responsible for it. Nobody can take it from you.

And that's like, we'll go into the next one. It's anti-seizure as well. Another property of Bitcoin is like, you're holding that asset. I can send it from me to you. Between me and you and nobody else. Like there's no intermediaries, there's no banks to tell you No, there's no government to tell you no.

Kyle: Which is actually a big thing. 'cause I remember working at MDT, uh, we would have customers from all over the world. Yeah. And like you'd have a customer in Asia and he would need to send money from there to a bank in Europe. Yep. To a Bank of New York. For a bank to a bank in Seattle to, and you have

Mark: to prove funds.

And it would [00:47:00] like, like even sometimes take big fees, transfers as well, take multiple days. And they get stuck. And you have to be like, okay, proof of funds and where they come from, what are they? For Bitcoin, they post an address. Like I used to run a little company and I'd order stuff off of, um, outta China.

I'd send 'em Bitcoin literally in 10 minutes. I can confirm they have money. If I had sent it to normal banking, it would take weeks if not months.

Kyle: Yeah.

Mark: And sometimes it would just be gone and there would just, like we were, you're still dealing with it months later.

Kyle: Okay. So seizure resistant.

Mark: So just like the, uh, government sees people's bank accounts or like with the, uh, truckers.

Yeah. Bitcoin, you hold the asset. Um, so like you were responsible for it. If it's like a bank, the, the, a government can go to the bank and say, take that person's money, or like, whatever. They want to seize it. They say, let's say they, you're a bad guy and they wanna seize it like it's unlawful. Whatever goes to laws, they can take, they can tell the bank, and the bank will take it for you.

Bitcoin, you hold the keys. It's like holding a bar of gold. The government just can't, unless they go to your house and find it, they can't take it. Like, same with the passwords. If you [00:48:00] memorize those passwords, there's no way anybody can take that money from you. You could

Kyle: waterboard you,

Mark: you could waterboard, but if you don't let go of that money.

Yeah,

Kyle: yeah, yeah. Like if you don't

Mark: tell 'em what the password is, then, then

Kyle: that's okay. Yeah.

Mark: So it's, that's like a big thing too. Now people are realizing like, Hey, I need to hold something that I can go pay my employees if something goes bad that I don't need the government permission. I don't need permission from anybody.

You know, it's

Kyle: so, it's, it's actually weight. It's very capitalist in its design.

Mark: Yes. It's, yeah, it is. It's, it's just equal, it's market value to supply. Like you, you know, it's, it's so, so the founding

Kyle: fathers, for example, of America, like for the people by the people, yeah. They would be, this is perfectly in line with that type of thinking.

Yeah,

Mark: absolutely. And that's why a lot of like libertarians are really big into Bitcoin. The first kind of people, because they're like, no, this is true capitalism. If the value is not there, you can't just print value outta nothing. You need to provide value for money. So I

Kyle: can't help but think this must scare the crap outta government.

Mark: Oh, it should. Like, there has been like, look at China. They, they scared shitless for it, for like, they, they try to ban it every couple [00:49:00] years. It was China bans Bitcoin. Like that's a thing that comes out when people send it to me and they're like, oh, China, China ban Bitcoin. They've been doing it every year.

They have never succeeded because it's just a string of numbers. How do you, you gotta ban free speech if you've verbally told me a bunch of numbers and letters. Like a Bitcoin address. Yeah. There's nothing the government could do, like, um, Chinese government. So

Kyle: Yout, so you can't ban it?

Mark: No, you cannot ban, you can ban the on and off ramps.

Like, let's say they exchange, they ban exchanges. They're like, you can't sell Bitcoin. But if you are a minor or anybody else, or you know, people have Bitcoin and you're using Bitcoin, there's nothing they can do to stop it. 'cause it's literally free speech. It's just a string of numbers. And if you send that to me, there's nothing anybody can do to stop it.

So that's a, so it's also like Bitcoin is also for enemies. Like it's completely capitalist money. Because if my enemy has Bitcoin and I'm like, oh, I do not like it that, uh, North Korea has, has Bitcoin, it's like, well, it's completely capitalist. If they want to use it, there's nothing I can do to stop it.

Because it goes both ways. You start seizing it and it's a disadvantage for one government. Well, guess what? They're gonna do that real quickly. But when you, it's a level playing field for all. Bitcoin's for everybody. And that's [00:50:00] like a big thing too. Another property of it is like, is is like you could be a nobody and have a Bitcoin address and it doesn't matter.

You could be a, a Christian in the middle of China and you can have a Bitcoin address and they'll, they can never know and they can never stop it. So it's really easy way to do it. Okay,

Kyle: so scalable.

Mark: So Bitcoin is like also just, you wanna take a drink

Kyle: of

Mark: water? Yeah, I just, I can, I can ramble forever.

Kyle: You got, I dunno if you guys can tell but Mark's passionate about this stuff.

Mark: Yeah. Like, I've been in it for a while and like the rabble, like I've been down it, I've been made a lot of hard decisions, but I love talking about it 'cause like it affects everybody and you're seeing it nowadays as well. Like, everybody's like, I'm not making enough money to make ends meet. Both families, both people are working, nobody's getting anywhere and they're now going, what is going on?

And they're getting angry and it's causing a lot of problems. Relationship problem, like money is everything and people won't realize it. If you're spending all your time to occur value and you're putting that value in fiat, money can money and it's getting debased inflated away. And you're losing it.

You're not getting anymore. You don't know why. That's a big problem. And it's, and it's theft. [00:51:00] It's straight up theft and nobody wants to talk about it. You are uh, I call it like time theft. You're stealing people's time and that's the worst kind of theft. So your slave labors to the Canadian government needs Canadian dollars and you have no idea you're fiat slaves.

But let's go back to the properties. Like that's a thing. You go down.

Kyle: So scalable.

Mark: So scalable. So Bitcoin is actually just like a network on top of it. So it's like whack of things at wall. So like the so little B is Bitcoin is Bitcoin, big B is a network. So scalable Bitcoin can be divided right now into a hundred thousand pieces.

Just one Bitcoin. Yeah. And you can stream money to anybody, anywhere. It's also stuff can get added on top of it. So it's like the Lightning network that can get added on top of it. And it's like software on top of the Bitcoin network. So there's like, there's, and there's liquid network. There's so many different things that are being added now.

I can't even keep up track now 'cause it's, it's crazy. Like the, the different conferences that people talk about it.

Kyle: What do you mean stuff gets added on top of Bitcoin? You gimme an example.

Mark: So like different kinds of wallets, different kinds of use cases. So like. Let's say like the Lightning Network. So when you send Bitcoin for me to you, it takes 10 minutes to confirm.

So if you don't wanna sit [00:52:00] around for 10 minutes, you're just like, whatever. Or if you send it and it's like five minutes, you're like, yeah, it takes too long, whatever. So lit, lit, um, lightning Network is like a whole protocol built on top of it, which is, is a different way of like, you send money to that address and you can instantly send Bitcoin now and confirm it through a different type of wallet, which is still Bitcoin 'cause it's still the keys of it, but it's instant.

And plus you can stream money. So like now you can send a hundredth of a SAT every second and work by, let's say milliseconds. You can, and it's just

Kyle: a, it's just a secure,

Mark: yeah, it's just a secure, like it's different. It's just a whole different applications. It's different apps, but it's just as secure.

Like the same, well same thing as the secure is like if you lose the passwords for it. Then it's gone. Like, you also gotta, yeah, okay, keep up with that way. Secure cryptographically. Yes. Can somebody steal your password? If you're like, oh, whatever, here's my phone, here's my password. Or you drop her phone, then it's, yeah, that's, yeah, it's yourself.

Okay.

Kyle: So, and it's, um, uh, last a um, property you have here is trustless,

Mark: so you don't need to trust anybody with it. So banking, you need to trust somebody [00:53:00] to hold your money for you. You don't need to trust anybody. Same with the government. You don't need to trust that the government's gonna be like, oh, we're gonna print 30% next year.

We're gonna change the monetary supply. Like, let's say we get a liberal government and they're like, oh, we're gonna do a lot 30% printing for something that's some crazy fear. Like whatever, whatever fear monger they do, whatever PSYOPs they do next, they're gonna go, okay, we need another 30% or more money.

We, we need a trillion dollars to fund this. You have no say in that you need, so you need to trust your money doesn't get debate. It's trustless. Like also with a bank account, you don't need to send money through a bank account to somebody else. I send the money to me and you and I don't need to trust on anybody else to do it for me.

So the responsibility is on you. But on the other side of it is if you send it the wrong, let's say you send Bitcoin to somebody and you send the wrong amount, that's on you as well. It's like you are in charge of your own money and you like back in the day. So you're, you know, it's a big responsibility as well.

Kyle: Understood. And so what, okay, so now let's say everyone in the world is like, okay, we're, we're switching [00:54:00] to Bitcoin.

Mark: Yeah.

Kyle: Do you have one world currency?

Mark: Yeah. You have a one world currency, you have something that's fair and nobody can change it and it's most likely gonna happen. And how,

Kyle: how would taxes work?

Mark: How would taxes work? You would just be denominating yourself in Satoshi. So you give un to Caesar with Caesars if you make this much money. And like, same with a business. You're just gonna have an account on a Bitcoin standard. You're gonna have to say, I made this much, and whatever the taxes scenario are, you are, you're just gonna, the same thing.

You, your income, you and what if you don't? What if you

Kyle: don't wanna pay your taxes?

Mark: Well then you're, if you're not paying your taxes, that's on you in between the government and then they find out there's consequences. So there's the other part of it is people are like, oh, you, so you,

Kyle: so it's actually harder to cheat on your taxes.

Mark: Yeah. Because it technically is transparent. You're like, oh, I have this ledger and this bank account and everybody can see it. It's audible, it's it's immune, it's audible. Anybody can audit. It's the Bitcoin network gets audited every 10 minutes by every computer. So like your government says you have, you have a wallet for your, your company.

Kyle: So technically it could be cheated, but just the same way that current minus monetary, something could be cheated. Yeah.

Mark: Just like you [00:55:00] wanna pay cash and not say, okay, whatever. It's, it's the same concept.

Kyle: So you could just have like a second Bitcoin wallet. Yeah. Yeah. But

Mark: that's on, that's

Kyle: on each user.

Mark: Yeah, that's on each user.

That's nothing to do. The Bitcoin network, that's like if you're on a Bitcoin standard and you're using Bitcoin as your. For in income voicing your income, your, your cash on hand and like your, your, you're paying for your people paying for your labor and you minus it and you're like, okay, I made, you know, a hundred thousand dollars this year.

You have to pay taxes on a hundred thousand dollars. That's on you. Not, you know, that's like somebody creating a company and not paying it either. It'd be the same level. Right? Like,

Kyle: okay, so let's say people are convinced now and say, okay, I want Bitcoin. What, what do you recommend they do? Like they just go put all their value in Bitcoin or, definitely.

I mean, I can't go, I can't go to Tim Horton's and, and buy coffee with Bitcoin. Like how do, what's the, what's the, I guess the practical things that.

Mark: How do you get some

Kyle: not, yeah, how do you, not even just how you get some, but once you have some, like what's the, besides just a store of value, like golden, a safe, is it useful beyond that?

Mark: Yeah, so like, I [00:56:00] have been, like, me and my family living off of a Bitcoin standard, so that means everything I own goes into Bitcoin and whatever. Like I take my, at the end of the day, whatever my mortgage stuff comes out, gets minus off it. But everything that's not is, is, is in Bitcoin. So I live in Bitcoin standard, so I have a credit card, which I load Bitcoin up on it, and I pay for everything with it.

And same thing, I can just send money to my bank account. I can send, I can, there's companies out there where I can, you have a,

Kyle: you have a credit card that's a Bitcoin credit card. Yeah. So you go and go to buy a coffee with Bitcoin.

Mark: I, whatever, my whole, everything I do is on that card. I literally is just, I put on there and obviously it's not, it's a debit credit, so you have to have the money on there.

Kyle: So you have to have a Bitcoin on there for it to work. Yeah. And it, so it instantly. Changed it to cash, whatever the value is at that. Because Starbucks is isn't getting Bitcoin. They're getting real cash. No,

Mark: they're not. There's so many companies nowadays that they, they do the intermediary.

Kyle: Okay. So there's a, there's a, there's a company out there that's an intermediary

Mark: that's selling the Bitcoin to cash, but there are places that accept straight Bitcoin.

So let's also talk about, like, there's a, a country called El Salvador and two years ago, so we have like the [00:57:00] Canadian dollar and it's legalized by us. That's our currency. Well, they have their peso and the Bitcoin's their second currency. So every store has to accept Bitcoin. So you go to McDonald's, you can pay for a Big Mac meal, you wanna go to Starbucks in El Salvador.

You can pay for it in Bitcoin. On the white network or just on chain. So I, I, which is, so this is a whole quick side story. So I have a friend that went to El Salvador. And he's like, he had, you know what, Bitcoin's like a QR code. Instead of writing out the numbers, you can scan the QR code for your address.

He was at McDonald's in the line and he's like, okay, I ordered a Big Mac meal through the Lightning Network. He sent a picture of it. I took a picture of it and put it in my wallet and paid for it. It was, I dunno what, how many thousands of the currency it was, but like, so it was like, I forget, it was like 5,500 Satoshis.

Paid it instantly. It got paid over there. And so I paid for his Big Mac meal on El Salvador with, uh, with Bitcoin instantly and McDonald's have no idea who I as, but so it's bare assets. They got paid for it right away. It's not credit. So they got the money right away as well. And like, so the, the [00:58:00] we're Canada might not be there because we're privileged with how our money system is.

A lot of places they don't, can't have access to a bank account, which we can get in later different times as well. So there's

Kyle: actually a big advantage to poor countries as well. Yes,

Mark: huge. Like if anything, if, if I wanted Bitcoin adopted, I would want to adopted in Africa and other places like South America where they have high inflation, which.

Bitcoin is huge out in all those places because of that reason. And out here, honestly, a lot of us, we don't need it. Like, you know, the appreciation of Bitcoin and how it works, most people are like, oh, it's cool, but it's not a lifesaving thing out there. It absolutely is. You can actually hold your own money and the government can't take from you inflate it away.

That's a huge thing that's gonna like level the playing field for all these people that are oppressed.

Kyle: Yeah,

Mark: and like there's so many little things about Bitcoin that are just mind blowing. You don't think of like, you don't even need to be person to own a Bitcoin wallet. So like another little story like, I don't know, I've told this like a couple little people, but like let's say you have a Tesla and it's self-driving.

You go send it out. It's got its own Bitcoin wallet. People pay for Bitcoin in it and the car has, let's [00:59:00] say like an Uber for example. Yeah, it's like an Uber. And then you pay for it. The car right away knows when it needs new tires, needs to replaced. That car goes around and that car has its own address.

No Bitcoin. But let's say that you no longer, let's say, lost the keys or you passed away, that car is still gonna keep em going around because it can hold value and send value. And nobody's control about it. And also it's gonna know, oh, I, this, I'm getting busy. I'm gonna buy another Tesla and it's gonna buy another Tesla and do the same thing.

We're gonna have billion dollar companies that nobody has access to and nobody can control. Like that's gonna happen pretty quick here in the next like 10, 20 years. So you don't even need to be human to have a bank account. So that's a whole other thing too that like, is gonna be cool. So, right.

Kyle: I, I can say, hear someone saying that, but like, oh, that scares me.

I'm out. How, how is that a good thing? I, I can understand how it's a good thing, but

Mark: it's, it's a good thing too because it is, I mean, it's, you're providing, you're selling your money for value. It's, it's a good thing, a bad thing. It's just a company. But how the future's gonna change, it's not, the way people think about it is it's like there's gonna be companies that nobody has access to.

Private companies that just do their own thing. They're providing value and people are gonna pay [01:00:00] for it. Whether that's good or wrong. If you don't like the value of it, then don't pay for it.

Kyle: Mm.

Mark: So like this. But is it gonna happen? Probably because you don't need to be a person to open a bank account to hold Bitcoin.

You could be anybody, which is also a benefit for a lot of poor countries because. They need, they don't, they don't have access to a bank account. Like bank accounts are a privileged, so they're never able to hold anything,

Kyle: so, okay. And, and, and you, so we have the, um, a few notes here left, which is, um, why Bitcoin will go up forever in value.

Bitcoin is hope and the moral morality of money, which is how I want to end. But before we get there, um, practically what's, uh, um, if, if people are listening to this be like, okay, I understand it now I wanna, okay, do I, do I go buy $10,000 worth of Bitcoin in Canadian dollars? Do I go sell my house? Do I go like the, I know the money goes, uh, the value goes up and down with in crazy amounts.

Yeah. Like what, what, what's so

Mark: I like every, like, 'cause the thing is Bitcoin is still like, it's 15 years old. It is volatile. Like you see the price go way up and down. Absolutely. You should not be putting everything into it. You should be buying 50 [01:01:00] bucks and learning about it. You should be learning about it and not, if you can articulate to me the reason why, like, that's, I'm a whole different story.

Like I, I have everything in Bitcoin. Like, you know, I sold real estate, put it all in there because I have been around enough to know that like if the properties of Bitcoin are better than the properties of real estate, 'cause people hold their value in real estate because that's the only thing that holds value and stays and goes up in value.

So people have been doing that, especially in Canada. You see, look at the real estate. Um, so you should definitely not be on, you should buying, try to buy 50 bucks. You should be setting up a wallet and learning how Bitcoin works, sending Bitcoin to somebody deleting your wallet and resetting it up with your words.

You should be learning that when you get more comfortable with that and learn about the properties of it and what it is, or, you know, talk to somebody, then you should be like, okay, maybe I should put 1% in. So like, of your net worth is a good place to start because it's something that, like, let's say that it jumps up 50% and drops 75% or like drops 50%, you're not gonna care about it, but you should absolutely have some Bitcoin because if Bitcoin, like if you've [01:02:00] been it long enough, Bitcoin on average has been doubling every year since, since 15 years ago.

So it's been doubling on average

Kyle: 15 years ago. Yeah. And and the, and specifically the reason for that is, is the supply and demand. The supply and the demand. There's, there's a, there's a finite supply. Yeah.

Mark: Every four years the supply gets cut in half, which is coming up and the supply

Kyle: being released gets cut in half.

Yeah. The

Mark: supply getting released, I should clarify that every time. 'cause it's easy to mix up the supply of Bitcoin coming in. Just imagine the supply of gold get in mind, gets cut in half and there's nothing you can do about it. So the only thing that can react obviously is the price. And that's why the price goes crazy every time is because you have the same amount of demand, but you have half as much coming in.

So the price goes up. So it on average has been doubling for the last 15 years. So like it, will that happen in the future? We have no idea. But for the last 15 years, it's doubled every year. So like, not exactly Every year it goes like probably every four years. A cycle. So it goes crazy high because everybody's like, I want Bitcoin.

And here in the news everybody buys it. It goes like, you know, what did it go from? It went from like,

Kyle: so it's also because of, because of these spike hikes, there's a lot of people going into it [01:03:00] for the wrong reasons. Reasons as

Mark: well. So that's why, like you would say,

Kyle: just because they're, they wanna get rich quick, quick quickly,

Mark: which if you're buying Bitcoin on the other side of it, you should be buying it and holding it for four years.

It should not be something that you're trading. Bitcoin is not to trade, it's Bitcoin is like insurance on our fiat system. Bitcoin is like you shouldn't be trading your fire insurance on your house.

Kyle: Bitcoin is like your gold and your safe.

Mark: Yes. But you can also use it as day-to-day payments if we are on gold standards.

So there's other things we can do as well. That's why the properties of Bitcoin are way better than gold and way better than anything else to hold monetary value over time. But I just wanna add one quick thing before we can move on that. So Bitcoin now through, so gold you could send, you could hold your value over time with gold.

'cause you'd hold it in and gold and it wouldn't get to base as quickly. You know, it gets to base about 2%.

Kyle: Just watch your mic there

Mark: about 2%. But like, so Bitcoin, same thing. You can, you can hold Bitcoin over time. Let's say 10 years from now, you're still 21, part of 21 million. You didn't get a base.

However you can send Bitcoin through space. Now I can send Bitcoin to anybody in the world at any point. So now there's a new technology that you can spend, send money and value through time and [01:04:00] space anywhere, and nobody can to stop you. Time and space. What you mean? Space? Space. Because like let's say somebody's in China is space between us to send them money.

Okay. You can't just bring to get gold to 'em. Somebody's gotta bring it.

Kyle: Yeah, yeah, yeah.

Mark: Bitcoin network. You're literally just sending Bitcoin from me to you. Between space and time, if they wanna hold it over a hundred years, like that's a crazy invention that, that, that like, just that alone should people to go, uh huh.

Let's take a second look at Bitcoin. That's a crazy thing. Bitcoin sends hold your value through space and time. Um,

Kyle: understood. Okay. Yeah. So, so, uh, why, and so that kind of leads into why Bitcoin will go up forever in value. So supply and demand, we talked about that. Providing value for money.

Mark: Yeah. So like real estate is not gonna go up forever in, in fiat terms.

So like, 'cause they're always printing more money and they're not printing more real estate rather than they're building on it. But land value, they're not making more of. So land value is always gonna go up because they're always gonna print money because there's always more currency chasing fewer amount of goods.

So that means the prices go up. Same with Bitcoin. The best thing you can hold is Bitcoin [01:05:00] because everything, it's gonna go up forever. Because even look at Bitcoin versus housing, they're always making more housing, but they're not making more Bitcoin. So if you bought a house, like I looked at this too, like, uh, back in the day you wanted to buy a house in 2016, it was like 200 Bitcoin to buy a house.

If you hold it, held it for four years, it was 40 Bitcoin and in a year from now, you're probably gonna be paying one to two Bitcoin for a house because there's always more houses being built. So when you're on a Bitcoin standard, you just gotta think what is, and, and

Kyle: also the va and also at the same time, the Cadian monetary system or American, whatever it is, is.

It's causing that, that, that price to go up drop as well. Yeah. And because the value, the number of Bitcoin isn't changing because it's going the other way. The amount,

Mark: amount of currency in the system's changing, there's more currency chasing the same amount of goods. So that means like if everybody has monopoly and everybody has $10 monopoly board, but somebody's getting handed an extra a hundred dollars over here, he's gonna be like, oh, I'm gonna buy that house because there's more currency and he's gonna inflate in the price.

So like un

Kyle: understood. Yeah, I got it. Yeah. So

Mark: if you're, if you're always creating value [01:06:00] and exchanging that for Bitcoin, it's always gonna go up forever. Like in value terms, like, because you're not, the currency number's never debasing. There's always more supply of like goods coming in for it and the currency never changes.

So like there's now a monetary policy that we know for the next 200 years. It is gonna be exactly the same and consistent. Whereas in the Canadian monetary policy, we're like, are they gonna hike again? Or they get a print again, we don't know. Right. Like, and it's all like used. It's so complicated. Even with bonds, yields all the inverse.

Like people, so are you saying

Kyle: if everyone was on Bitcoin, the house pricess wouldn't skyrocket? Like they would just say really stable? Like would, would everything be way more stable on pricing? So it would, yeah,

Mark: it would be way more stable because you would be like, okay, is it valuable for me to exchange my scarce asset for something?

It's gotta be worth it and I don't need to rush around anymore to like run into real estate and take massive leverage out and then to buy another thing to get ahead. You're gonna be way more stable price because there's gonna be, there's no, right now real estate has a monetary premium on it. So people are [01:07:00] holding real estate.

Because that's their money.

Kyle: Mm-hmm.

Mark: So if you take that away, real estate prices are gonna tank versus Bitcoin very hard in the next 10 years because everybody has their, um, monetary premium, you at real estate. So when that monetary premium comes down and it goes into other things that are more valuable, 'cause they're like, oh, it's not holding my value anymore, you're gonna have a lot more fair value and like stable thing where it's like, I built a house, I sell it, it's gonna be more leveled out.

You're not gonna have crazy like, oh, Canadian housing rose 30% in the last couple years. Right. Like,

Kyle: and so could, could you get a, could you buy a, um, a house with Bitcoin and have a, a mortgage or how does that like, so

Mark: you can't like, yeah, so you can, you can do that. There's already companies that have, um, Bitcoin backed mortgages.

Yeah, but, so you can buy and sell 'em Bitcoin and you can go in like the MS in Vancouver, you can actually just go buy a mansion for, I don't know how, what is it? You can buy like, you know, 200 Bitcoin, you can buy a mansion in bc like they're, they're already listed everywhere, so you can physically buy, use your Bitcoin to buy it.

Okay. But, but I, but I mean more like,

Kyle: let's say, let's say, [01:08:00] um, a house is 20 Bitcoin and I only have two Bitcoin. Is it in this system? Can I just never buy that house or could I, um, borrow 18 Bitcoin?

Mark: So you, you can borrow lend, but the thing is, you gotta realize you gotta pay that debt back. So Bitcoin, if you borrow Bitcoin one, Bitcoin equals one Bitcoin.

So if I borrow Bitcoin from you to buy a house, I need to pay that one Bitcoin back.

Kyle: Bitcoin in Bitcoin and Bitcoin. And the value is going.

Mark: Yeah. Yeah. So like, there is, there is ones out there that you can do that. When you buy, have a mortgage. Everybody loves mortgages in Canada because our inflation rate is higher than our interest rate.

So that's called like, I forget what the name for this, like if you have a million dollar mortgage at 2% interest, but your inflation's at six, you're making four, you're paying 4% of your debt down a year without you doing anything. You cannot do that on a Bitcoin standard. So if I borrow a Bitcoin, and that's, and

Kyle: that's actually a bad thing.

I mean, it's good if you're right now, if you're in that situation, yeah, but it's bad because

Mark: your money supply is increasing. But it's bad to incentivize taking debt out. Like all my grandparents and everything. A lot of older people have the, you buy stuff, you pay your debt down, like the Gordon Ramsey [01:09:00] stuff, which is absolutely right.

We should all be in that path. All kids nowadays is take out debt because everybody who took out debt benefited. But now people are getting way over leveraged. And especially with interest rates going up, there's a lot of bodies around, like people that I know that are floating up going, how to sell farms, how to sell this and that, how to sell their house.

Kyle: So, so that whole thing that you hear on, you know, you see it on Instagram reels and everywhere. It's like, uh, debt is good, debt is good, debt is good. Well, it

Mark: is like from a, just like a non-Christian moral standpoint, if you wanna get ahead, you take out the biggest mortgage you can because the bigger mortgage you can take, it gets to based as long as your interest rates, rates are low and it's even the cost of things.

So your property value is gonna be going up because of printing money. That means your debt is getting debased and becoming smaller.

Kyle: Okay, so that's a perfect segue into the morality of money. Um, so you think that the current system is, is immoral? Immoral?

Mark: Yeah. So when we, we didn't really break it up. So like when I go to a bank, so there's the government's.

First of all, let's just start from the, the what money is. So like the government, they print the money through qu easing, [01:10:00] through buying back bonds through the, the government. They, they make it confusing and make it look like they're not. But if you look at the M two money supply, you can see it's a hockey stick.

It goes up. So like they're creating more units, even they're not being honest about it. They even, they're taking out debt. They gotta pay that back. That's creating debt. So the government's inflating away. So if they're inflating the currency away, if you're holding, let's say you worked 25 years of your life with a hundred thousand dollars, you saved at $200,000, and all of a sudden inflation's at 10%, like it was, uh, two years ago, all of a sudden that like, let's say a hundred thousand dollars lost, $10,000 worth of value, you can buy $10,000 worth less goods in services.

So, like, people gotta start thinking in that mindset. It's like 2% is still wrong, but like people didn't really, it's like the pot is warm. And, and also remind me to bring up CPI. How, like that. So that's, uh, Canadian Price Index, which they use to, to price out inflation. Yeah. You, you go,

Kyle: you go through these points of the morality of

Mark: money.

Yeah. So let's, uh, so let's just start with that. So money right now, the government does it, it's all, it's not, it's not gold back. So there's no backing it. They can just do it. And we don't know, like they're, oh, we're gonna send a hundred billion to [01:11:00] Ukraine, we're gonna send a hundred billion to us. We have nothing, we can't say about it.

So first of all, you have no say in that money printing. It's just done. And there's no, there's no votes, there's nothing. It's just that whatever they think it is. So it used to be hard back in the day because there was gold standard or there was coins. Yeah. And you actually physically had to get the coins.

Yeah. And you, you have to, it goes through all of history. Look at like, um, back in the day, the, uh, Lydia currency, look at the Romans. Back in the day, they had coins and they had, so, like, you see how coins didn't wanna be counterfeited. They had like the, the faces on it and they had the, uh, little on the side of the coins, they had the little cuts on them.

That was from money clippings. So people would shave off chunks of gold to, to base the currency. The kings would do that and melt it down so people would see. Oh, this coin's been clipped, so it's called coin clipping, and they would shave off bits of gold or silver and create new coins with it. Debasing makes the, the people whose money, they thought it was $1, but it wasn't small and small and smaller, like 98%, and they would take that 2% and create new coins.

That's how inflation was back in the day. It was hard, but so be it. They still did it. And then there was things that came out to be like, you had weights, you would weigh your gold, so you would not, you know, you're cheating. You're like, I want 10 [01:12:00] ounces of gold and 10 ounces of gold, you know, your weight and measures and just like in the Bible.

Kyle: Oh yeah. So I, I want to read that, that verse here a second, that kind of ties into this. So Proverbs 16, verse 11, uh, just balance and scales are the lord's, all the weights in the bag are his works. So, um, it's, uh, I, I like the example there of the, of the money being shaved. So it's just like, it's it's equal to equal.

It's fair to fair. Yeah.

Mark: Not, yeah, because our money's supposed to be so, like, there's a good book, it's called Thank God for Bitcoin, as a bunch of pastors wrote it, but like, but Bitcoin is equal money. It's fair money. So like you can. Cheat on it. There's no way to cheat because if I give you one big Bitcoin, you gotta give it back.

I can't make it smaller. There's only 21 million. I can't to base it, I can't inflate it away. I can't steal it without you knowing. Whereas inflation, they do all this stuff, the government, and they're taking that value away over time by making your, your currency smaller and they're printing more to basing and inflating your money away.

Kyle: So they're basically doing what they used to do with the Roman coins and like Yeah. Taking shavings off to make more Yeah, yeah. Or, but they're not doing it that way. They're just doing it by printing more.

Mark: Yeah. And without even [01:13:00] going to the people. So like, um, let's go back also like, so like we're just talking large down and we'll talk like, so the, what they did, money printing and everything.

So they have metrics like CPI. So CPI is a complete like. It's people are like, oh, inflation is about 2% every year for the last 20 years. That's a complete lie because like the basket of goods that they like use is not anything that we use. Like if you wanna live in your mom's basement and all you eat is junk food and watch tv.

Yeah. The CPI is probably 2%, but if you went, you know, let's say that you wanted to buy a house or you wanted to buy a new car or college or healthcare, you're looking at probably like on average eight to 10% a year. So pretty much what the s and p five hundred's at you're, that's inflation is. At least they say if you use real goods that you wanted, that people actually want.

On top of that, technology has been bringing inflation down as well because things get better. Like now iPhones have everything in it. Before it was a printer, you had get a printer, you needed a a, a camera. It's all in your iPhone. So technology, so technically on

Kyle: a healthy money, money system, as technology increased, everything should be Have [01:14:00] gotten cheaper.

Cheaper,

Mark: yes. Yeah. And not more money because

Kyle: now it's the other way around. It's

Mark: inci incentivize you to save. And so it's like your time value. You, you're, if you have a high time preference, you think about saving for a very long time from now where if you have a short time preference, you're just like, I'm gonna blow my money 'cause it's gonna be gone anyways.

So everybody's morality and everything to think of is, is misaligned now because of our money. You corrupt the money, you corrupt society. That's been through throughout history, everything like the Roman Empire fell because of that. But anyways, going back to the, the money printing, when the government does that, they can just do it without anybody knowing.

But, so if you're on a hard money supply, you would like, back in the day if you had a castle and you're like, I wanna go attack that castle, you had to go to your people and go, I need the money to go attack and fund my army. So you would have to actually physically get out there, you'd have to get the, the wishes of your people.

And they had to, everybody would've to think it's worth it to go. If you didn't think it was worth it, it would definitely not be happening because you need money to pay them. If you don't have money, you have nothing. Well, nowadays, like since World War I is is, especially since like the German, the Weymar like went off and they started like same thing.

[01:15:00] The, that was when the first Fiat experiments kind of collapsed. It was like yr Germany and how it came out of World War I. None of the World Wars would've happened without money printing because they took the value and they printed it and they could base everybody else without them knowing. And they can fund endless wars.

So look at the states, you can fund wars and nobody says mething about it. And that's like their biggest expense. And there's no accountability. Like you don't need to vote on it, you don't need anything. It's just, oh, send a hundred billion here. How many billion here? So if you're on a hard money standard, the moralities of it, there's a lot less killing people of like, you don't even know about stuff going on.

Because, because you

Kyle: just can't, you don't, you can't,

Mark: you need to go to the people or tax 'em, raise taxes or ask for the money from the people. And if it's not worth it, guess what? It's not happening. There's no, you going over there, you know, dropping bombs on families and we don't know what's going on, but it's just like, no, it's, uh.

So like you're incentivizing people that have money with value to be like, oh, we need to think and this must be right. And get the people behind it. Okay. Somebody's doing something to us. Let's say somebody dropped bombs in Canada. We had to go around and be like, okay, we need to protect ourselves. That would happen.

There needs to be the people behind. So then

Kyle: everyone would need to send money [01:16:00] to the government's address.

Mark: Yeah. Yeah. You would need to just saying they would order the gold, you know, gold standard. It doesn't have to be a Bitcoin standard, just on a hard money standard you'd actually need to go with, so like if you're using Canadian dollars, you're, you know, funding war even though you're, you know, you don't even realize it because they're using that inflation to inflate the currency way to pay for it and other things as well.

Like, you know, there's a lot of other things in this government's funding that we didn't even know about and they're just funding it and you know, that's just part of it.

Kyle: Yeah. Okay, so, um, you have a inflation money clipping. We talked about that. Um, um, fractional reserve lending. Oh yeah. Stealing from the poor.

Mark: Yeah. So fractional reserve lending is like, 'cause government can print money, but when you borrow and lend money, you can create money as well. So banks actually create money. So if I give the bank a hundred dollars, Canada has zero reserve requirements. Like bank can give that a hundred dollars and lend it out as well.

So technically there's like, and then like they're supposed to have like 99%, but with COVID they got it down to zero. Let's say it's still at 99, they can lend out $99. Now there's technically 199 currency units out there with [01:17:00] debt.

Kyle: So for every a hundred dollars they get, they can lend out 90 it out

Mark: to another person.

And let's say that person deposit it from the bank can re lend it out. So fractional reserve banking, which everybody does, it's, that's just how our bonds and everything, it's just debt. They're just rolling over debt 'cause it's like, it's just numbers and a currency. So when they're doing that. You're creating money as well.

So the, uh, the whole morality of lending as well is, is like, so if I take a mortgage out from a bank, I'm technically creating money. So if I'm creating money and one of the 10 commandments is thou shalt not steal and I'm devaluing the currency because I'm creating money and the poor people don't have access.

Like majority of people can't get mortgages, especially the poor. They're the ones that saving the money. No, none of us actually use money. We barely have any money in our accounts we have and everything else. We're stealing from the poor. We're debasing the currency as much as the government as well to fund our stuff and to get ahead because if we don't, we So wait, so

Kyle: you think it's immoral to get a mortgage?

Mark: Yeah. Unless you get a mortgage from somebody and you pay it back in full. Where a lot of these mortgages never do. They get sued as you get a mortgage to the bank, it gets [01:18:00] rolled off and sold off to somebody else. And these mortgages never get paid down. And they get relent out and, and fees on this and that.

And that's where you get like mortgage backed securities and like CDOs and everything on top of that. Like the whole And that's how that like 2008 debt, 2008, the big crash. Yeah, exactly. Because they were leveraged like one to 200 and all. Also, it was like when you go the other way, because then when he fractional reserve lending is like everybody has their money in their account.

So if we all went to the bank and went to get their money, it's not there. Right? They don't have the money because it's all lent out from this person to this person, this person. If you're on a hard standard, like, which a lot of reserves, let's say Bitcoin, um, sorry, not reserves. Bitcoin exchanges have gone down because they've lent out Bitcoin and somebody's like, oh, I want my Bitcoin back.

They didn't have it. Well guess what? If they don't have it, then they're, you know, they went, uh, they went bankrupt 'cause they, they try to buy it back or they try to get back and there's no money there. You have to pay that back in the same currency in the same amount because it's part of that 21 million and that's what you owe.

So like mortgages are absolutely okay if you're lending it out on like the principle of like inflation. If you're lending it out and you gotta take it back and you close that mortgage out and you pay it. [01:19:00] And so like, if I gave you that currency amount and you paid it off, that's perfectly well. But if you're, if I'm borrowing money from you and you're selling that debt to somebody else, and that debt sold to somebody else and it, it just literally never gets paid off and it's just, yeah, it's, and then it ends up as bonds on the government and Canada's balance sheet because the government's buying the debt and then that's never getting paid off.

That's, you know, you're creating currency units because you're creating debt.

Kyle: Understood. So it's like another way of print, another way of printing is basically, okay, so the

Mark: government that's part of it is like majority of the printing is from the government, but a lot of it also is from our banks as well.

Kyle: So I can imagine then like, it, it is kind of a little bit off topic, but if you have all your money in Bitcoin, you actually are incentivized to spend as little as possible. Absolutely. 'cause you know, the value's going up, up, so you become smarter with your money.

Mark: Yeah, yeah. You become, and I, I have a lot of stories of when I was younger and like I said, I was started buying it and I had some Bitcoin.

I was like, oh, I'll trade it here and there. I'll buy like my wife's vehicle. Well, you know, that vehicle is now worth two, $400,000 depending, like, you know, that, which is definitely not worth that now, but like. I was [01:20:00] like, I could have just bought something a little bit less and then like, right, you, you're incentivized, or like I spent, you're

Kyle: incentivized to save,

Mark: save because your value is going uptime.

On top of that all, you don't need a second job to worry about keeping up with the everything, because you can now, if you work and put your value in time, it saves it over 10 years, 20 years, 50 years, or even a thousand years. Give it to your kids and however long your lineage goes, they hold that Bitcoin.

That's, that's, you're saving that value. What you worked in that time is gonna stay the same through time. As well. So like, you are incentivized to save like that, but like, so, so that

Kyle: kind of ties into inflation, inflation time, theft. When, when, in the past, I know 50 grand, 50 years ago was, was a

Mark: house.

Kyle: Was, was, yeah.

Or like several houses. Yeah. Yeah. And now 50 grand is a car, is a, a small reno.

Mark: Yeah, yeah, yeah. Um, yeah. Like, it, it, the value is decreasing. 'cause it, it is, it's suddenly, it's slowly, then suddenly like Right. It starts to kick in. When you start people like, inflation's been whatever. We've had things in there.

But when it gets outta [01:21:00] hand, like look at third world countries like Venezuela, like Greece and stuff like that. When all sudden you wake up and your currencies devalued by 50%. People are gonna go, okay, I sh like, and if you are holding currency in units, you're gonna be going, what? So not even that, people already realize that the pod's getting warm and they've been like, oh, I need to invest in real estate to make money.

I need to put it in this. So you, you have two jobs now. You have your main job, and then you have your second job to worry, to put where, to put your money to hold value. That's, everybody doesn't realize it, but that's what it's, you're worried about it. And another thing too is if you're not needing to worry about that and you create value and you, you know, you create value for Bitcoin and you buy it and it holds this value over time, well guess what?

Your wife doesn't need to work to have kids. You can buy a decent house. You can live like back in the day off of gold standard one family income, and you only have to work 60 hours a days. Or you can work a job that pays a little less, but you're happy with it and you love it. Or start your own company.

Now everybody's working their max. They can, they're, they're in their mortgages are $3,000, 2,500 plus things. Like they're literally working on the max. Their wife works, they have no [01:22:00] kids, no relationships with anything, or even relationship with God. Like they just have no time for anything because it's go, go, go, go.

I have this debt, I need to pay it off. I need to get ahead. I can't do it. Like they're just, they're just money around. But 'cause

Kyle: we're creating more debt, we're creating more, we need to work more to pay it off. Which creates more.

Mark: Yeah. But also with like the government created way too much and they wanna try to stop it.

They rose the interest rates, which a lot of people thought would never happen. And then now people over leverage are getting wiped out. That's the whole other side of the greed cycle. Like, they're just like, we need to buy as much. We need to do an Airbnb, we need to buy a vacation house. We put a rental property to keep our value.

And they're like, oh, this is working. Let's like, you know, we're going way over the board and way over leveraged. And now we hit a hiccup up and they're going, oh, you know, things aren't going so good. That's a whole other side of it too, is like. They were, they should have never been that over leveraged or like the people have like millions of dollars worth of, of mortgages and they earn like less than a hundred thousand a month.

Like that's a reality for a lot of people. And then so then their wife has to work. There's no kids relationship. There's fighting over, like there's so much incentives, like money is around everything. Like how many fights and families has been amount of [01:23:00] money in the last couple years. There's been a lot with people.

Kyle: Yeah.

Mark: And like if you could save your value and hold it in something that doesn't get the base, it might be right now, but if you start. Maybe in five years from now, you're gonna have breathing room to go, okay, maybe, you know what, I don't need to take overtime. I wanna spend more time in vacation. Right.

Kyle: I got money changers here

Mark: so that, that's like another biblical, it's a cheese. The same thing. Went in the temple and was like, the money changer was doing the same thing. They were creating debt. They were changing money, creating stealing from the poor by like trading it with massive, like, um, so if I'm buying and selling different things, changing money, they would create interest rates.

So like, it's definitely like what banking is in fraction reserve banking is like immoral. That's what, like, Jesus went in the temple and kicked them all out, was like, you know, we don't want that. Any of you, that's not what, you know, you're cheating from the poor. You're creating no value. You're just, uh, I forget what it's called, rent seeking.

You're just rent seeking, right? You're just, you're, you're, same thing. You're just changing between each other, making money off stuff. You're providing no value, but charging a fee for it. That's not right. So that's why I had, uh, understood. Okay.

Kyle: So I've got a few questions here that people sent in. Um, and I think we [01:24:00] touched on a few already, but maybe we can just quickly, um, recap on them.

What good or service does Bitcoin provide humanity that is beneficial in God honoring?

Mark: It provides you value, true value. It's like a measuring stick. That's true. Like right now our fiat measuring stick is an elastic. You don't know where things are at, so you can now see what true value something has.

And you don't, you can't be like cheating something, you know, the, the measuring stick this much. It's, you know, it's, it's three inches. It's, it's three Bitcoin. There's no stretching it back and forth and inflating the currency. So it's more bitcoin's a completely separate way to opt out of our corrupt system.

And being like, we have something new to use that's honest and is like, is not immoral. We're not cheating, we're not lying, we're not stealing and every, and it's true capitalism, right? Like it's the most Christian money there ever has been.

Kyle: Understood. Okay. Um, one more here. Um. Bitcoin uses a ton of energy and that's not very good for the environment.

Mark: So Bitcoin does use a lot of energy, and it uses energy because the miners that are [01:25:00] confirming need to use power to, to guess the numbers. So it's like, uh, your computer guessing a bunch of numbers, it needs the power and the heat to to guess, right? So it uses a lot of energy. Bitcoin uses a lot of energy.

But so does everything else. You're drier everything else as well. But a lot of things is Bitcoin doesn't use the energy that you think of. It uses stranded energy that's free. So a lot of places, like I know a company, I deal with some other people at greenhouses that heat greenhouses and other things with stranded natural gas from wells that they flare off.

The natural gas is flared off.

Kyle: Yeah.

Mark: And it's just burnt into nothing. Well, they can use that natural gas for generator and they use that generator to mine Bitcoin because that energy is there. So you're using stranded. 'cause Bitcoin can only, if you want to use, um, electricity to mine, Bitcoin, the electricity has to be cheap because then if you're spending 6 cents a kilowatt owl and you're only creating 6 cents worth of Bitcoin, you're a par.

And it, so if your electricity goes up to 10 cents, like it's not worth it to mine Bitcoin now, like it used to be back in the day, I did a little bit. I had my brothers did [01:26:00] it. It's not worth it at all unless you have cheap electricity. So the only way to find cheap electricity is like, there's, there's a place in, uh, in, in Vancouver that uses methane from dumps.

So the old methane from dumps that goes up, they use that methane to use and generator, same thing as natural gas. And they, 'cause they have to get rid of that methane anyways. They usually just, were venting it. But they use that now to run generators to mine Bitcoin. So that energy is cheap. So Bitcoin uses a lot of energy, but it's a lot of stranded energy that nobody has access to.

Or like, let's say there's a dam up and uh, like Sightsee Dam up in uh, top, let's say it gets running most places. The generators are gen. Is that still not

Kyle: running?

Mark: What's that? That I don't even know, but I'm just saying, let's say it's gonna bring a lot of energy on it. A lot of, so there, there's maybe not in Canada here.

Is, uh, like a lot of different places, like by New York and stuff, there's a lot of like decommission dams where they still run, but they still are running. They don't run 'em at what they think everybody's gonna need at 20% capacity. They run it at 200% capacity. Right? So everybody's using the energy up to like, so they never want to have like a gen, uh, a dam that has like 50% because they have blackouts all the [01:27:00] time.

You want to have the dam to have, you know, let's say everybody's taking electrical heat. Everybody has everything on max power and then they want that amount to be this the top. So they never have brownout or blackos. So during the day or any other time, a lot of that energy, what do they do with it? It's wasted.

It is literally dumped off. So big one, Niners actually stabilize the, uh, electrical grid and incentivize more green energy because now you have a place to store energy technically 'cause you're storing energy in Bitcoin. That energy, instead of being dumped in the ground, of being worthless, is now put into Bitcoin and now they actually get bitcoins for it and actually can use that to purchase other things or subsidize the, the electricity to make it even better.

To be like, oh, so Bitcoin only uses cheap electricity or, or nothing, electricity. So,

Kyle: yeah. Yeah.

Mark: So, and another thing too is like on the energy part of it, like it's, it's, I think it's say 60 or 70% of Bitcoin is using like green energy already. Like, 'cause we, if you've used expensive electricity, it's not worth it.

But on another side of it, not including energy, let's say that you look at all the screens in the world that are playing, or mic or [01:28:00] microwaves and dryers are using, that's not even like a, a 100th of the percent that the Bitcoin network uses. So like there's, do you think it's valuable to put energy for it?

If somebody thinks there's value to use energy for it, then it's worth it.

Kyle: Mm.

Mark: That shouldn't really be up to anybody to decide a government or anything. If you don't think there's value for it, then don't buy for that big TV or that heater that for that electricity. Right. So like that's also another part of it is like.

It might, you might think it's wasting electricity, but like somebody thinks it's valuable. So if somebody is think it's worth it. If you don't think it's worth it, then like people say that dryers use too much, um, things and the government's gonna ban all dryers. You still think it's worth it and you have one.

You're using a ton of energy to dry. We close every, every week. Right? Like, well, you think it's worth it. That's the energy. That's, that's your responsibility too as well, right? So,

Kyle: understood. Very cool. I think this was a, a super fascinating conversation. We're right at an hour and a half here. Oh. Um, if, if, uh, um, people wanna go learn more about it, like, would you have one or two books you can recommend?

Mark: So I had the, the good one is, uh, two. I don't have it with, I should grab it. So thank God for Bitcoin. It's a book. It's [01:29:00] written by a bunch of pastors that put it together. There's also another one as well that's smaller and, and shorter. Um, there also is like tons of great, uh, videos. What,

Kyle: what's the one that's smaller and shorter?

Mark: I forget to tell at this point. It's written by a pastor in Alberta.

Kyle: We'll put, we'll put the links in the description.

Mark: Yeah. Um, those are two great, like Christian ones, but like to get. Like I, I'll, I'll add some books. Just simple. I think it's like the rabbit hole to Bitcoin, just simple explains everything in short paragraphs.

A lot of stuff I went over like what is money and stuff like that.

Kyle: But in, but in some, but in summary, I guess is, is, um, this is a, a fair form of, of money where, where the government can't steal it, it it, it holds its value. Yeah. It, it, it allows you to work less and, and spend more time with what's actually valuable to you and not constantly be, be chasing and, and it can't be stolen.

Um, in many ways it, it seems like a, a super good alternative to our current, current, our current system. Yeah. 'cause and, and just to remind people again, this isn't, um, um, the Canadian dollar isn't like the only money we've ever had. We've used all [01:30:00] different kinds of money over the years. This is just a, a, a better form of exchange, a better tool, A better tool.

Yeah. What

Mark: is your money? What are you using and why? What, what? Like what? Uh, like, um, yeah, like your tool. So why don't you use the best tool? Or what do you have? Like you should be learning about it if you're using Yeah. People used to use

Kyle: robi and, and you know, now they use Milwaukee.

Mark: Yeah. They're like, oh, what?

Why do they Yeah. Like better stuff. Why don't you use it? It's terrible time. Yeah. But, uh, I, I would just end it with saying like, Bitcoin is hope for people nowadays. Like it should be you, you're now everybody's like, oh, the, the world's gonna end. And stuff like that. Like fear monger with everything. Like, well, no, you can now work towards something and like you adopt a Bitcoin standard or, or start thinking in those terms.

Be like, you now want to have tons of kids because you can know that they're gonna be provided for the future. Your value is gonna be for them. You don't need, you can, your, your wife can work and stay at, doesn't need to work, stay at home. Like, you start going down that path. You also have more time to do stuff and like people are happier.

Bitcoin is hope for people. Like, especially not around here because we already have a lot of things as, as privilege as Canadian [01:31:00] economy has been that we've been pretty good. But like other places. Like there's some great, I'll put a good video about Africa Bitcoin adoption in Africa. Can you put a link there?

It's like, it's like Bitcoin is hope for them because it literally is changing their lives for the better.

Kyle: People can't, dictators can't steal it. Yeah. Like all, yeah. Bitcoin

Mark: is changing the lives for better and anybody, like you should buy, you should have a little bit because it's, you know, it's gonna be the way, 'cause it, it's, it's the, all the properties it has and how it works and everything like that is, is.

You're just gonna, once you circle on that rabbit hole, you're, it's, it doesn't end because there's, we just touched on a few topics and looked late and skipped over it, but like, we could go into mining for, for six hours. We can go to nodes for six hours. Like we could go into different companies. How it works, like there's so much, and then just like the different, like the Byzantine Generals problem, the different things that it solves, like.

There's so much, like this is just a topic. Yeah. And if anybody like, wants to even give me a call or talk to me, like my phone number is six zero four seven nine nine. This is gonna

Kyle: blow up, right? This is gonna have millions of, of views. Like, are you sure you wanna do this? Sure.

Mark: Yeah. Like, I, I talk to anybody.

Kyle: Okay. What's your phone [01:32:00] number again? (

Mark: 604) 791-7898.

Kyle: There you go. You wanna give 'em your Bitcoin address too, as a thank you?

Mark: Yeah, I can post one on there, but I, I, I like, I don't take, uh, donations, but if you want to Sure. Like, um, I also have like an Instagram, it's called Bitcoin OnRamp. I was for a bit there going like, put lots of stuff on there and uh, I should probably start going again because like with the having coming close by, the price is most likely gonna, like I said, the

Kyle: having of the mountain being supplied,

Mark: the supplied is happening.

That means everybody, the demand is the same, but the supply gets, the, the amount being issued supply gets, can half. Price is probably gonna jump. And you know, I wouldn't be surprised if we have a 300,000 Bitcoin in this pretty soon here. Yeah. Like in the next couple years. Like that would not be out of anything.

Un normally that happens.

Kyle: Yeah. Yeah. Awesome. Really appreciate it. Yeah, great. Chat guys. If you have any questions or uh, comments or thoughts, put 'em in the description or, uh, in the comments of the video, do a follow up. Um, yeah. We'll, and, um, I'll get Mark to go in there and answer some more questions once this is uploaded, but I, I, I learned a bunch more about it.

Um, I'm [01:33:00] gonna go, uh, I'm gonna go home, buy some Bitcoin. Okay. Thanks. Sounds.

‍

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