Episode 84: Government Printer Goes BRRRR



Special Guest Mark Moss


Today BitBoy and JChains talk about the crazy government stimulus that is going to be sending $1200 to every American making under $75,000 per year. The government is discussing the possibility of printing 2 $1 Trillion coins. They are making that printer go brrrrrrr. We also look at the Democrats trying to sneak in a digital dollar.

News Break: We discuss the government stimulus.

In Token Time, the boys talk about TOMOchain: https://coinmarketcap.com/currencies/tomochain/

For Manspreading, the guys talk about what foods & restaurants they are missing the most. JChains is missing barbecue & BitBoy is missing chicken wings with his family.

In our special interview, BitBoy & JChains discuss the current government situation & disease outbreak with Mark Moss. Are people overblowing this?


New York, Senate, Government,Trillion, TOMO,TOMOChain,taco Mac,buffalo wings, barbecue,austin,tokens,crypto,cryptocurrency,digital dollar,democrats

This episode is sponsored by Monarch Wallet. Crypto Starts Here.

Monarch Wallet now features the world’s first decentralized recurring crypto payment service, Monarch Pay. Designed to make receiving and paying recurring crypto payments safer, faster, and easier for consumers and merchants alike.

To learn more about MonarchPay and how to get started, visita MonarchPay.com

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Twitter: @BeardsBitcoins

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BitBoy: @BitBoy_Crypto

JChains: @CryptoJChains



Episode 84: Government Printer Goes BRRRR


JChains: What is going on homies and ‘homets’? Thank you for joining us. It’s another episode of Beards and Bitcoins. We are a Crypto Podcast for the man’s man and absolutely yes, the ladies that love them, joined with me as always is my man, my friend in real life and on the interwebs BitBoy, you’ll know him as Ben, we are now, dude, what is this like week two or three in the quarantine?

BitBoy: I haven’t left my house in 21 days.

JChains: With no end in sight. I know we just put a stay in put or whatever it’s called until April 14 here in Austin. So that gives me another three weeks. So, I hope everyone’s keeping their sanity. I hope you Ben and your family are keeping safe, and sane. It just makes it–

BitBoy: We finally had to order out today, like we had to. We ordered Domino’s we’ve been a little sketchy like we’re wiping stuff if it comes in and I’ve seen some conflicting stuff about ordering out and Andy producer by the way sent us something in our Satoshi Droppers chat, a sheet that said like ‘okay, well eating, ordering in and doing delivery like it is pretty safe.’ So, we decided to go and do it today, the wife wasn’t really happy about it though but we did it.

JChains: So okay, let me ask you a question. How was the delivery process? Because we’ve done that as well, we’ve ordered twice now, we’ve had one where the guy hung by the door and then one where the food was at the door before I could get there and there was no one in sight, it was on the ground. What was your deliver experience?

BitBoy: Well, that’s what I was expecting. I was expecting that. Now, we’ve been doing InstaCart for all our groceries. Now we’ve been stocked up on stuff but we don’t want to have to eat ramen noodles unless we have to, you know?

JChains: Yeah.

BitBoy: So, we’ve been adding on and ordering stuff here and there. So, with InstaCart people, they come, they drop and leave. Like I opened the door for the guy the other day on accident and he was like, he was scared. He was like, ‘What?’

JChains: Don’t look at me. Don’t look at me.

BitBoy: Don’t look at me. So, what happened today is Domino’s showed up, and I looked out the window and he was just standing there, like right at the door with the pizza, I opened the window and I was like, ‘Hey, put the food on the ground, please.’ Food, on the ground, please and you know, you got to sign a sheet with Domino’s and send them a little tip, I said, place the food on the ground, scribble on the receipt and give yourself $10. Thank you. Goodbye, sir.

JChains: Just walk away, please. Give me my pizza.

BitBoy: And then right in front of him, when he was back in his car. I came out with the wipes and start sanitizing it all down. So, I’m on keto. I’m on keto. So, I can only eat limited things. So, I just eat the pizza topping. So, I scraped all the top off.

JChains: Dude, why won’t you just find a place that does gluten-free pizza?

BitBoy:  No, no, thank you. I don’t know. That sounds disgusting.

JChains: I know but then you could at least eat the rest of it.

BitBoy: Well I do thin crust anyways? So, it really honestly is not that different.

JChains: I guess actually gluten-free and keto are two totally different diets.

BitBoy: Yeah, I’m sitting here thinking like I don’t think that’s no carbs. But I’ve been doing good, I’ve lost 25 pounds.

JChains: Nice man, good for you.

BitBoy: Can you tell? Say yes.

JChains: Yes, absolutely. I’ve lost a few myself, which is very exciting like this quarantine life is working out well.

BitBoy: It is. You see a lot of people are talking about the ‘Quarantine 30’ which is like the ‘Freshmen 30’ but the Quarantine 30? But my wife has an interesting theory and I tend to agree with her, that actually probably what we’ll see is we’ll see people putting on a lot of weight after it’s over. Because finally everybody can go out and eat all this stuff they’ve been wanting to eat.

JChains: You’ll get gluttonous and you’ll just start going out. Like, that’s one of my things, I know that you don’t drink alcohol. I love to drink. All right, I’d love to drink sounds really strong.

BitBoy: You love to drink.

JChains: I do. I do enjoy it. And so, like my wife and we’re like we’re bonding right? Because it’s just the two of us in the house every night and so we’ll play like the other night we played Wii Bowling for drinks and stuff. Like, so we’re having a good time. But like I really, really, really want to just like, tip a bartender for a drink. Like I just want to like go drink in public and like talk to someone else. Not my wife. I love her. But just, it’s just time.

BitBoy: Well, you guys too. I mean, we both work from home anyways, pretty much but up until this year, we both had been doing a lot of traveling. I haven’t been doing any traveling since January, or since December at all, but-

JChains: Lock it up. Lock it up.

BitBoy: It’s not that much different from our regular lives because we’re home most of the time, but just not being able to go out and do things even if we want to, and my kids’ sports are all done right now, which is really crazy. And things like that, but we got a really packed show for you guys today. I probably should have already said this. We got Mark Moss on today we’re going to be talking about the sickness that shall not be named and we’re going to be talking about the numbers behind, conspiracies, financial numbers, you know, is it really that bad, and things like that. What did you think about the interview, J?

JChains: I thought it went well. I always love talking to mark. He’s a good friend. Always good to connect with our friends over in. In California, they’ve got a different perspective on life. They’ve got a different situation going on over there. So, it’s always good to check in with Mark. He’s a cool dude. It was a great interview.

BitBoy: Yeah, I wish we probably in the interview could have talked about more financial stuff. We talked a lot about kind of what’s going on like governmentally right now and how it can affect our civil liberties and things like that, which obviously lines up with everything in crypto, but Mark is definitely one of the smartest dudes. I can sit and talk to Mark and I have before for hours without even looking up. Just looking at him talking for hours about different stuff. He’s definitely an interesting character.

JChains: Yeah, absolutely. It was a good conversation. Always, good to learn from him as well. Like you said he’s a smart guy. Super, super cool and super smart. So, thanks for joining us and I hope you guys enjoy that interview with him a little bit later.

BitBoy: Yeah, and you guys are definitely going to want to tune in to the interview because it’s at the end of the interview, Mark is going to tell you exactly what he thinks Bitcoin is going to do. So, you going to want to hear.

JChains: Yeah, get it.

BitBoy: Get it, get it.

JChains: You got to listen through, don’t fast forward through it. You got to listen all the way through.

BitBoy: No fast forwarding. But yeah, let’s go ahead speaking of fast forwarding, let’s go to a forward-thinking company, which is Monarch Token, which that was a much better segue this week than last week. If you guys remember my– I’m not even going to say

JChains: it was just a show of bad segues.

BitBoy: Show a bad segue. But let’s go ahead and get into this. We’re beards and Bitcoins the crypto podcast you guys know and love is brought to you by Monarch Wallet. Rule your own financial Kingdom from the palm of your hand.

JChains: That is right sir, that is right. Let the team at Monarch, they’re working hard for you again to bring that one app to give you all the best crypto services right there. Delivering tech is their big thing, not hype.

BitBoy: Absolutely with the Universal Decentralize Monarch Wallet, you can buy stores and earn crypto with Monarch Pay, you can set up and accept recurring crypto payments.

JChains: That’s right, you can. So, check out a monarchwallet.com or monarchtoken.io for one of those two websites for more information, just check it out.

BitBoy: Absolutely. So, thank you again to Monarch. So today, we’re going to be getting into kind of what’s going on right now. We’re going to give you an overview of what is being approved in the government right now you guys are going to get some helicopter money. So, we’re going to be talking about that for News Break. We’re going to be talking about $2 trillion coins that the government is talking about minting. Now then for Token Time, we’re going to be talking about TomoChain and then what are going to talk about for Manspreading, J?

JChains: We’re going to go back to kind of what we were talking about in the intro of the show, where you ordered some food, right? What food establishment or whatever, are you missing the most?

BitBoy: Absolutely, that’s there’s nothing better than the dude then just getting some fast food and just eating junk food, you know. So, we’re going to talk about or maybe not fast food, maybe you like to have a nice steak. We’re going to be talking about that in Manspreading. So-

JChains: Spoiler alert. Barbecue.

BitBoy: Oh, gosh. That’s Austin, Texas boy right there. Let’s go ahead and get into News Break.



JChains: That’s right, ladies and gentlemen, you might have seen all over the internet all over at least social media, ‘brr.. brr.. brr..’ they got the printing machines running, those greenbacks are printing, baby. The government is ready to inject a lot of cash into the economy, give it a little bit of liquidity.

BitBoy: Absolutely. So, it’s a $6 trillion stimulus package. Now, it’s not signed yet, now it’s been agreed to but it has not been voted on and signed. I do not believe– so we’re very close to getting it done. But you know what, there’s something interesting. Let’s talk about this for a second. So supposedly every American is going to get like a, you know, if you’re not in the 1% or 2% of the, basically, if you make over $150,000 or something like $115,000 a year, then you’re not going to get anything, I don’t think. But if you’re up to that level, you’re going to get 1200 dollars per person. If you have kids, you’re going to get 500 for each kid. So, like, I’m going to get 3900. So, the question is, the reason why this has not been signed yet is you have some senators like Lindsey Graham, saying that ‘Wait a second here. The unemployment part of this package actually encourages people not to work”. Bbecause when you break it down, it’s basically where if you’re unemployed, the unemployment benefits that are coming with this $2 trillion. it’ll pay you $24 an hour to sit home.’

JChains:  Wow, that’s crazy. So, I had read some other thing that says, and this is something I don’t know enough about, and obviously I got to do some more research. But all right., so the average American is going to end up getting a bill and you’re not really going to get a bill for this, but it’s going to end up costing you like $18,000. Right? It’s like, it’s like $18,200, $16,000 of it is going to this corporation bailout and they’re giving you know, the $1200. I think I said that wrong.

BitBoy: Yeah.

JChains: But so, it’s $18,000. So, $18,000 is like what it’s going to cost you. It’s the $1200 that you’re going to get. But the $16,000 is what you’re paying into this, you know, corporate bailouts. So, it’s like–

BitBoy: Well, but they’re also just printing money. So, I think that throws everything out. You know what I’m saying? I mean, they’re just printing money. So, they’re talking about minting $1 trillion coins to pay for all this.

JChains: That’s crazy.

BitBoy: That’s a real thing, that’s not a joke. They’re really talking about Representative Rashida Tlaib from Michigan suggested that they just take two coins and just make money out of the year and that’s, for all intents and purposes, that’s really what they’re doing and she’s not the first person that suggested this. There was actually I think going back in 2010 or 2011 was the first time somebody had floated this idea of like, ‘Hey, let’s just make $2 trillion coins and it’ll, you know, we can disperse that however, we want to disperse it’. And isn’t that exactly what crypto is trying to fight against?

JChains: 100% that’s like, it doesn’t even make sense. I mean, but at the same time, isn’t that like, obviously, you’ve got people in the game for crypto and Bitcoin that believe that it’s worth money. So, there’s the exchange, right? You’ve got buyers and sellers, but at some point, like Bitcoin, just like didn’t get created out of thin air, right?

BitBoy: Right.

JChains: And it’s taken this long to kind of build the value of it. But you can’t just value something right out the get-go at 2 trillion.

BitBoy: Well, the government can, they just did. I think this is, you know– the effects of inflation, you don’t feel immediately. We’re not going to feel effects of it and so that’s why right now, with the government do- I mean, it’s good they do this. I mean, I understand in crypto, we’re supposed to be all against the government printing money out of thin air. But if they don’t do this, our entire economy is going to crash. We’re going to have people committing suicide left and right, because they’ve lost their businesses. They’ve lost their jobs. This is worse than the Great Depression. We’re going to have unemployment rates higher than the Great Depression. Like think about that.

JChains: Yeah and so nuts, I saw something like the unemployment request for funding. I think it was in New York City? I think it was New York that said it was the largest spike in the history of unemployment, like just this week.

BitBoy: Yeah. Well, in the United States, it is like overnight, pretty much it is. And so, I think right now, the government has to do this. They don’t really have a choice and I think that the effects of inflation are so long term. So how much– let me ask you, we’re about the same age, when you went to high school, did you guys have coke machines, snack machines?

JChains: Yeah.

BitBoy: Yeah. So how much was a 20-ounce soda. I think just now they have 16 ounces. But how much was a 20-ounce soda in your school??

JChains: I mean, I know that it was like change, right? It was 75 cents, 50 cents. I mean, it was something like that, I think.

BitBoy: I mean, for me, it was $1, almost everything–

JChains: Yeah, maybe it was $1 who knows.

BitBoy: So ours were a $1 and then we had like I used to love Butterfinger BB, do you remember those? You remember don’t remember Butterfinger BBs.

JChains: I remember them but I don’t like Butterfingers.

BitBoy: Oh my gosh, the Butterfinger BBs were the best. Everyday I’ll get a coke and two butter finger Bb’s it will cost me $2 and 20 cents, $1 for coke and 60 cents a piece for the two bags of BBs. And I would eat those in my lit class or whatever and because you know I was lit from an early age. But you know, I really enjoyed, I realized, well how much is a coke now? $2!

JChains: That’s crazy. I don’t drink soda. So, I don’t know.

BitBoy: Well just check out a soda machine, next time you walk by one, they’ve literally doubled in that short of a time period in 20 years, basically, they’ve doubled. And that’s the effects of inflation. But see, here’s the beautiful thing about it is where we’re at with Bitcoin and I was wanting to switch over to this Bitcoin scarcity secure financial system or crypto system basically, where you can’t just print money out of air, is that– If our dollar collapses because of this inflation, eventually, we’re already kind of starting to move over to a different system. So, I believe, honestly, we’re at the end of the dollar. Is it going to happen tomorrow? No. Is it going to happen in the next 20 years? Yes. I do believe so in the next 10 to 20 years. So, it’s almost like this in the short term, let’s do it. Let’s print this money. Let’s get money out, let’s keep people safe. Let’s get people jobs. Let’s keep businesses going. But in the long term, this is also bullish for crypto and where we’re trying to take the financial system, so-

JChains: I mean, I love the whole idea of them even introducing the digital dollar into this from the get go. I mean, I think that probably goes back to what was it last week or two weeks ago? When Steve Mnuchin or whatever his name is, the secretary–

BitBoy: Mnuchin.

JChains: Mnuchin. Thank you, the Secretary of the Treasury or whatever he had named, you know, the guy who was formerly with CoinBase as like the special currency guy, whatever.

BitBoy: Special currency guy, I like it, it’s perfect.

JChains: Whatever, you know, this is remember, we’re not nerds here. We don’t actually know the technical names for any of these things.

BitBoy: Not at all. What’s a BitCoin?

JChains: What’s a Bitcoin? I think that probably has something to do with that right? I mean, would that not make sense that they introduced this guy who’s got a just a depth of knowledge of crypto and kind of what’s going on in the blockchain world and said, ‘hey, let’s, let’s try to make this expeditious to getting people money.’ That’s the way to do it.

BitBoy: If you guys don’t know it, Justin is talking about it where basically the democrats tried to slide into digital dollars in the bill, and it didn’t get that part of the building get pass, but we’re already seeing them talk about a digital dollar, will it be centralized? Yeah, of course it’ll be centralized. But there is a chance it can be on blockchain and it will probably come within the next year or two, regardless.

JChains: Sorry Ripple army. It’s not your coin.

BitBoy: Speaking of coins, let’s check out a token that Justin promised to this community. Let’s get in token time.



BitBoy: That’s right guys. Today we’re going to be talking about TomoChain, this is an interview episodes, we don’t have as much time as usual to talk about a token but Justin promised the community that we’re going to talk about this. And if you’re in the TomoChain community, and you want to tell us more about it, then make sure you guys come over and join our Telegram group t.me/beardsandbitcoins and come tell us all about TomoChain. We would love to learn a little bit more about it.

JChains: Talk to us, talk to us, but we’re going to give you kind of the baseline overview, right? So this is about TomoChain. TomoChain is scalable blockchain powered proof of stake voting consensus. It’s used commercially by companies globally. Their mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of blockchain, all while retaining its underlying benefits, that’s pretty cool. Their technology is defy-focused, products include fast and near zero fees, 2000 TPS, two second blockchain about zero gas fees, price-wise, and it is EVM compatible. It’s an array of original features and protocols designed to support speed, privacy, usability, and liquidity, all of those needs in one platform. That’s a little overview of TomoChain.

BitBoy: Sounds great. I like it. Let me tell you the number one thing I love about TomoChain, I mean I’ve been sitting over here waiting on this for about, I mean it took you about a minute to explain it. So, I’ve just been reading. The number one thing I like about TomoChain, is their logo is very similar to the TikTok logo, so TomoChain, you guys are very tan colors, everything. Fantastic.

JChains: Interesting.

BitBoy: Yeah, I love TikTok. So, TomoChain, it looks like they have their own main net because it is a coin. It is not an ERC 20 or a token. So, I mean, that’s good, this is a scalable blockchain and I think they said they can do like 2000 transactions per second. Looking at the chart, well just so you guys know, some of the CoinMarketCap numbers on it. Right now it’s ranked around number 137 and I’m a big fan of coins in the 100’s. I think a lot of those coins in the 100. So like maybe one that I really like, there’s some other ones in that 100-150 range that I think could be kind of the next ones up. So maybe this could be you know, one that could maybe move up towards the top 75 maybe the top hundred, you know, over the next couple weeks, but looking at the chart, it launched looks like in March of 2018. So, it’s been around for a while about a year and a half, well that’d be two years, right? Wow, time moves by fast. But it was very volatile. But the volume on it has really picked up since November of last year. So, it’s on a little bit of a dip right now, like everything is but it looked like it was on the way up until Bitcoin kind of hit a wall. But what do you think about the long-term prospects of this coin?

JChains: I like it, man. And looking at some of the details of it, one of the things that I do like is that there’s only 100 million in the total supply. I think I’m kind of getting stuck at looking at projects that have, 100 billion tokens, like, I mean, okay, like, I think that’s maybe greed on the founder’s behalf or whatever. I mean, go break it down by decimals, have fractional units of your coin, if that’s what you want to do, but to have 100 million or less, I think that that’s a good number.

BitBoy: Yeah, I like nine-digit coins. 10-11-digit coins, 12-digit coins is too much, when you’re in the billions. I think Ripple is I think is 84 billion, I think

JChains: It’s just too many, it’s too many in my opinion.

BitBoy: Too many coins, it’s too many Tomo’s. So, if you’re in the Tomo community, make sure that you guys hit us up, let us know more about it, come join our telegram and teach Justin more about it because he needs to know more about things.

JChains: Educate me, homies.

BitBoy: So, let’s go ahead guys, we got to jump, we got to jump here. Let’s go ahead and jump over to everybody’s favorite segment.



JChains: Alright fellas, you got that rumble in your tummy, you hungry for your favorite chicken wings? Maybe it’s that burger at that joint down the street? Regardless of what it is. I’m hungry. I know you are. Ben, got to be hungry too although you got your pizza delivered today.

BitBoy: I did. I did. But I ate it and it’s gone. I mean I eat those pizza toppings in one sitting, so.

JChains: Well today on Manspreading we are going to be talking about what food it is that you are missing the most during this quarantine life and chill. If you could call it ‘chill’. I’m sick of it.

BitBoy: Well for me, I mean I’ve been on keto anyways so it’s been a little bit more miserable since I can’t go out and eat wings or whatever. But I would say that probably the thing that I missed the most is just going out and eating wings at restaurants with my family like after church on Sundays, Buffalo Wild Wings or not Buffalo Wild Wings, Buffalo’s Cafe. I don’t know if you guys have those there, I think they’re everywhere. But Buffalo’s Cafe has ‘kids eat free’ on Sundays. So we like to go to church, go eat wings and then you know if we were out at my kids soccer games out of town, we go to Taco Mac or whatever and in my family, we have a saying, boneless wings are not allowed in this house. This family does not eat boneless wings, we only eat real wings. So, I miss saying that. I haven’t been able to say that in a while. So I would say like combination of Buffalo’s, Taco Mac, anywhere that’s got good wings, been able to go sit down as a family and that’s something I miss, you know. We would go out a couple times a week and eat and it is weird because I would get frustrated with my kids sometimes and they’d be loud and talking, you know, just being kids in public and I’m just like, I missed those times, you know.

JChains: Definitely. I definitely agree with you. For me, it’s barbecue man. I miss barbecue, going to the places where you could get a brisket or a rack of ribs that have been smoked for 16-20 hours. I need to do it at home but I don’t have the supplies at this particular moment. So that’s what I’m missing, it’s my barbecue.

BitBoy: I mean, I miss some Austin barbecue too. I miss being out there and having some of that.

JChains: Come on down, flights are cheap. Come on down.

BitBoy: I’m probably not because I’m not getting on an airplane right now. It is crazy, airplanes are flying like six people on them now.

JChains: Couldn’t you just wear a hazmat suit and a mask and like be totally fine?

BitBoy: Yeah, that’s a good point. Maybe to get some brisket, I should do that.

JChains: Come on down.

BitBoy: Had to go get one of those buffalo legs? What was that?

JChains: The bison rib, that’s what–

BitBoy: Bison rib. That’s what it was, the bison ribs. So good.

JChains: So good. Jinx. I just jinxed you.

BitBoy: Yeah, next time I’m out there, we’re going to go tear up every barbecue restaurant again, like we did last time I was out there.

JChains: That’s what’s up.

BitBoy: So, yeah, I mean, I’m a big fan of barbecue. So, let’s put a poll up, let’s find out what people are missing the most. Maybe we’ll do barbecue, pizza, wings, maybe hamburgers, maybe that, we’ll see what people are missing the most out there right now or maybe we’ll put up some specific restaurants. But we’re going to put up a poll and you guys please go and check out the poll. So-

JChains: Just vote on the poll.

BitBoy: Yeah, vote on the poll. We got to move on to our interview with Mark Moss. I do want to say before we get into the interview, Mark and I talked about some numbers for flu season. And I got totally confused. I was saying 360,000 people had it last year. I said about 38,000 people died last year, which is true or the 2018-2019 flu season. But there were about 35 to 45 million people who had it, who had the flu during the last flu season about 36 to 38,000 people died. So, you guys keep that in mind when you’re watching, I get a little confused on the numbers. But I hope you guys enjoy this interview and we’ll see you guys later.

JChains: See you.



BitBoy: Hey guys, we are joined today by a good friend of the show, somebody I know very personally, and spend a lot of time with. He’s one of the smartest dudes I’ve ever met. We’re joined by Mark Moss today. How are you doing Mark?

Mark: I am doing awesome out here in Southern California, hunkered down for the quarantine but anyway doing great. Always fun to join you guys for a conversation.

BitBoy: Yeah, definitely. Today we’re excited to talk about some continuation of some things we’ve been talking about on the podcast for the last few weeks, as you guys know, the disease’s just over everything right now, somebody made a comment that was like, ‘Crypto Twitter has been totally taken over by the virus.’ And I’m like, well, literally everything has. I mean, what part of your life, hasn’t it touched.

JChains: The world has basically come to a standstill right now.

BitBoy: It’s crazy.

BitBoy: It has. So, Mark and I were talking on Twitter and we were talking about– you know, I was talking about some conspiracies and how I’m not really into those conspiracies that much, I pretty much accept it at face value, a lot of stuff that’s going on. I mean, obviously, I understand there are some things going on behind the scene. But we want to bring Mark on and talk about that stuff, and then talk about how it’s affecting our financial system, because we just had, you know, they’re talking about minting $2 trillion coins. They just did 6 trillion I think, or 8 trillion dollars.

Mark: 6 trillion now.

BitBoy: Yeah, $6 trillion surplus package stimulus and things like that. So, they’re announcing it right now in the background here. But I want to know, like, what are your thoughts in general about this? How do you think that this crisis we’re facing is affecting our financial system?

Mark: Well, no doubt that it’s affecting our financial system in a bunch of ways. I mean, obviously, the entire economy is shut down. So, meaning, like hitting a brick wall at 100 miles an hour from 100 to zero in zero seconds. Just to even like, maybe try to get a glimpse of how big this is, think about the restaurant industry. 7 to 8 million jobs gone in the blink of an eye. Just that alone, that’s $255 billion of revenue. But it’s not just the people that work in the restaurants, what about the people that deliver the food to the restaurants, the farmers that are growing the food? What about the guys that clean the uniforms? So, it’s like, it goes deeper and deeper, deeper, and that’s just like one tiny segment. So, at the same time, we’re seeing complete destruction of the economy and at the same time, we’re seeing a destruction of our financial system because what the feds are doing, they just announced the other day, right? QE Unlimited, basically, unlimited money supply they come out to say.

JChains: ‘Brrr.. brr…”

Mark: Yeah, the ‘ Brrr’

BitBoy: Yeah, there it is.

Mark: Exactly. Exactly. And, you know, they’ve already pledged now, as of today 6 trillion to fix this. I think it’s going to be; I think it’ll probably be 20-30 trillion by the time we’re done in 12-24months.

BitBoy: Which is more than our GDP.

Mark: Well, yeah, it’s way more than our GDP. If you look at like in 2008, we went from 880 million, and it had been pretty flatlined. But 880 million on the Fed’s balance sheet went to 2.2 But the problem was they keep saying, ‘Hey, we’ll worry about this. After we get through after we get through’. That’s what they’re saying right now. They said the same thing on 08’ but the 2.2 never went down. As a matter of fact, the 2.2 grew to 4.4-

BitBoy: Yeah.

Mark: Previous to this. So instead of like, okay, after we recover, we’ll get that money back out. And everybody’s trying to tell you ‘Oh, no, the Fed got all that money back.’ They did well then why their balance sheet go from 8.8880 to 2.2, and then 4.4 and so anyway, if you look at the result in 2008, from 880 to 2.2, that puts us from 4.4 to 10 trillion, but they just announced six. So, six plus four is 10. Boom, just instantly, overnight.

BitBoy: So, how do you think– I really want to get down to the heart of this here, okay? I really want to get

Mark: Well there was a specific tweet that you made that I commented on.

BitBoy: Yeah.

Mark: Do you remember that tweet?

BitBoy: Do you remember the tweet?

Mark: I remember the tweet.

BitBoy: Yeah. I don’t remember which one it was, I’ve said so much.

Mark: So, you said, ‘Okay so, they’re really using this to take our guns and take our cash and whatever exert control over us.’

BitBoy: Yes. So, the tweet was now remembering the one you’re talking about? It was okay, so if they don’t exert permanent martial law on us, and if they don’t come try to take our guns in our own country basically doesn’t try to take us over then when can we all agree that those are just crazy conspiracy theories, and that’s never going to happen? That was basically what it was.

Mark: And I said, aren’t you paying attention because they are doing that right now? So, and I’m not saying this is a conspiracy, but you know, the saying is and I forget who said it now, ‘But never let a good crisis go to waste’ right? So, every time there’s a crisis, like 2000, like 9/11, for example, that was the day supposedly we went to go fight for our freedom. Well, that was the day we lost more freedom than any other day in history, with the Patriot Act and so forth. And, you know, every time we see a crisis, we see the same thing. So, you said if they don’t do that, well, they are. They already are, right? So, we saw gun checks went up by 300%. Well, they shut it all down. So now, you can’t get guns right now. You can’t buy ammo right now. They are taking the cash and not just the US, this is a global thing, right? So, China has already taken $600 billion of cash off the street. The US is starting to do it where now businesses and so forth aren’t accepting cash. Now we see just yesterday, the FDIC comes out spokesperson ‘Everything’s safe, leave your money in the bank’ So we see all these things, so you said if they don’t do it and I said, but they are, right before our very eyes.

BitBoy: Well, =I think this is the fundamental disagreement here, which is, I don’t feel like that, and I said this way before we got to a point where states were even getting shut down. I said this even back as far as when the first cases started showing up, because I saw where this was coming. That’s why I have a whole other channel where I talk about this every day. The thing is in my opinion, this is not an encroachment on our freedom and everyone’s interpreting it like that, like, ‘this is an encroachment on our freedom like they’re just telling us, we can’t go out and do stuff’. Like we all see the craziness happen in New York City. They have 30,000 cases, they have more, they’re going to end up with more cases in New York City and then they had it in Wuhan, China by the time this is over. Well, the reported numbers, obviously, I don’t believe any of the numbers from China, but-

JChains: I don’t think anyone does.

Mark: Okay. Let’s separate the first issue from the second issue. You wanted to dive into the data and the numbers, that’s a whole different deal. But you can talk about the encroachment on freedom.

BitBoy: Yeah, I don’t feel like it’s an encroachment and I said this even back then, the problem is that Americans, we have a problem taking suggestions and so it’s been suggested to us for weeks that the best thing for us to do is to stay home, social distance, which you have people that are just like, ‘I just don’t believe’ ‘Oh, this must have been, this is like SARS or this is like Swine flu.’ Like,’ oh, it’s the same as every other thing we’ve ever seen before.’ And I understand why people think that because we’ve seen so many, I guess you call ‘false flags’ or whatever before. You know, scares where they didn’t come to fruition. But this one has, and if everybody thing as though is at this point-

Mark: We also have history though, right? So, like every time like 911 they put these emergency powers into place, these emergency laws and they’ve never once gone back and repeal them, ever. So, and not only that right now, I’m sure you’ve seen right? They’re trying to push through this new legislation What is it? The F?

BitBoy: The EARN IT.

Mark:  Oh, the EARN IT.

BitBoy: Yeah.

Mark: Exactly, like they’re trying to slide that through, you saw Nancy Pelosi try to stick that through all that stuff in that bill, trying to slip all that through and they’re calling it like ’emergency powers’ but they’ll never repeal that. I mean, you saw the other day, they said, you know, you’re reporting this all the time, I’m sure you saw it, right? They want to be able to detain US citizens with no cause for an unlimited amount of time.

BitBoy: Yeah but once again though, this is something that in my opinion, is really overblown, because, like, yes, and I spoke out against it, I said, we don’t need this. But the problem is, there’s no courts. There are no courts right now and that’s what the issue is. It’s not like they’re saying like, ‘Oh, we just need to detain people and throw them in jail.’ We don’t have courts. My court is functioning at all, there’s no process right now. That’s why in Dallas, they just had a report on the news yesterday, that said, and they had the same thing in Philadelphia, where they’re not even investigating corporations. They’re trying to lower-

JChains: For Christ’s sake, they think they live out in New Jersey or something, they let out like 1700 inmates, they just let him out of jail.

Mark: One of them was already like tied up some woman and held her up knifepoint and all that.

JChains: Like, come on, like, who’s stupid dipshit decision was that?

BitBoy: Well, but once again, I’m going to say it’s not because most of those people were– if you really pay attention to what exactly the people they’re letting out, they’re nonviolent offenders who are awaiting trial. So these are people that they just got arrested  and they deem that these people are like they’re either small drug charges or they’re either, basically it’s to get around the exact thing we’re talking about, which is somebody having to sit in jail for an extended amount of time because the courts are shut down. So, I think I think the danger is, and I’ve said this many times, I accept pretty much what’s going on right now at face value. I think that it started in China, I think it either started from an animal biting a person at their version of the CDC because there was a report out of China very early on, that’s what happened that completely disappeared or it’s the story that we’ve been told, a bat pooped, a Pangolin ate it, the Pangolin got sold it a wet market and that person went home and ate it raw or not good and got it. It’s either one of those two things in my opinion. The crisis itself is very bad right now we all understand where it’s at.

Mark: How bad is it? Tell me how bad it is.

BitBoy: Well, in New York City, they have 30,000 people in the hospital.

Mark: So, what does that mean? How many people get infected with the flu?

BitBoy: Okay, okay.

Mark: Not die. How many people get infected?

BitBoy: About 350,000 every year across the United States?

Mark: Yeah, 6 million.

BitBoy: In the world.

Mark: Yeah.

BitBoy: Not in the United States.

Mark: So how many?

BitBoy: In the United States is about 350,000 and there are approximately 38? Maybe it’s more than that. 38,000 people died last year from the flu for sure. There’s nobody that would be a 1%?  That’d be 10%. Whatever it is, I don’t know the number.

Mark: You don’t know. Listen–

BitBoy: The number for how many people died last year, I’m positive is 38,000. We’ve had as many as 50,000 over the last few years.

Mark: So, here’s my stance on it and before we started the show, like everybody can form their own assumptions and their own opinions, but we have to look at the data, right? And so, when you look at the data, so first of all, there’s this article that just came out by a doctor of epidemiology. He’s a PhD, blah, blah, blah, whatever University he’s at, and he just says, ‘look, we don’t have the data. We’re fighting something that we have no data. We have no idea what it is.’ There was a study that just was released from Oxford University, credible source, Oxford University. They said, ‘over half of the UK have already gotten it. 1.3 million people have already gotten it, it’s already blown through’. That’s what Oxford University just said. I live in Southern California, you probably saw my tweet the other day, I put out that I believe my family already got this about two weeks ago, my daughter had 104 degree fever, every single symptom including the GI issues, I got the flu headache, the eyeballs. I live right out of LA, we have a direct flight from Wuhan to LA, right? Think of the timetable, right? Like it happened in December there, here’s February, and the flu ran through Southern California hard like, wow, where’d this come from? Well, now we kind of know. And I’ve been doing extensive boots on the ground research, just talking to as many people as I can. But Oxford University came out with the study, like I think we’ve already seen it, and then the best, the best data that we have that still isn’t that good was that Princess Diamond cruise line and there were 700 passengers that were locked on the ship quarantine and they said it passed through air all that right? Okay, 700. Well, who goes on cruises? Old people. 700 people on old cruises, and they had a death rate of 0.25? 7 people died out of the 700 people there. Now because that data sample is so small, you can’t draw conclusions off 700 people. You need like 700,000 people to do so. But based on that data of old people that were completely locked in breathing the same recirculated air, it was somewhere between point 0.25-0.6 death rate. So that’s fact, that’s just data. You can draw your own conclusions but I know my sister’s an ER doctor in San Diego. They’re not dealing with it. In California, we’re 30% occupancy, my friend’s brother is a respiratory therapist in Washington. They’re not being overstated. I’ve been running polls. So anyway, that’s the fact and I know that it could get really bad and I know that we could have an overwhelming and I know that it could be all these things. But the data is not there.

JChains: The one thing that I like and I heard is that someone’s coming out the test, right, and it will let you know if you’ve liked it, right? if you’ve been exposed to it, because then you’ll know, hey, look, if I’ve got it like, I showed no symptoms, I never really got all that sick, like it didn’t affect me as much as it affects some of the people with certain conditions, then you can basically go about your life because like don’t get a flu shot like a normal flu shot. I don’t get sick and if I do get the flu ever, the normal one, like I’m down for maybe a day and then that’s it.

Mark: Yeah.

JChains: Right. So, like, I have a strong immune system. So maybe it works with this as well. And so, you could at that point, just know like, alright I can go back about my life because this isn’t something that affects me like it affects other people.

Mark: Yeah. The one point I just want to make real quick before you take over Ben is, so what I’ve learned from reading this doctor reading what Oxford just put out was that they said ‘looking at the infection rates, the wrong number to look at’. We obviously have done a horrible job of testing people. Now that we’re testing people of course the infection rate is going through the friggin roof. The death rate is the number to look at and as we get more people infected, the death rate is dropping less and less and less and less. And now, it’s still a little higher than the flu. But, it’s lower than any of the other viruses that we’ve had over the last two decades. So we’re at about 0.5 now. So, the more infections we get 30,000, 50,000, 200,000 bring them on, bring them on, I want a million infections, because then it makes that death rate look so minuscule.

BitBoy: But here’s the problem with that way of thinking though, is because it’s kind of like saying, when you mentioned you said, ‘Oh, well, you know, how many people get the flu?’ Well, if McDonald’s I saw this tweet, and I thought this put it beautifully. ‘McDonald’s sells 2 billion hamburgers a month or a year, 2 billion hamburgers a year. If I go to my local McDonald’s, and I order 50 million, they should be able to give it to me, right?’ Well of course not.

Mark: I hear that. But the data doesn’t show it. The data doesn’t show it, we’ve had it now. It’s been out for four months now and So far; we haven’t seen that rapid rise and our systems aren’t being overwhelmed.

BitBoy: But we have. I mean, how can you say we haven’t seen the rapid rise in New York City, it’s insane. And we also have to keep in mind, we’re seven days behind at any given moment what’s actually happening, because it takes seven days before people really start showing symptoms. So, we’re seeing this huge rise in New York and now at the same time though, there’s way more people there that have it right now that haven’t even started showing the symptoms yet. Now starting on Saturday or Sunday when they’ve had seven days of lockdown, that may change, that may start to decline. But the fact is in a lot of ways, in my opinion, I feel like New York is the future for a lot of cities in America. Maybe it won’t be but I feel like looking at what is happening there because of the apathy that people have towards this like it’s not a big deal. Now that death rate is heavily affected by the amount of treatment that these people can get. So, in Italy, they’re so overrun like, it’s so crazy what’s happening there. Yes, they do have the oldest population. We know that. Yes, a lot of people–

Mark: They’re so overrun, that 800 people have died.

BitBoy: In Italy?

Mark: How many people died in Italy?

BitBoy: About 6000.

Mark: Was it that high?

BitBoy: Yeah, it’s that high. It’s going crazy and Spain is right behind it, I’ll look it up right now.

Mark: Okay.

JChains:  You know, we should also look at is the number of people that die on a daily basis that don’t die of this well and what have you got like, okay in this particular–

Mark: That’s a false comparison though because I mean, that rate is kind of already built in like we know how many people die of all kinds of different things.

JChains: No, I wasn’t saying that. It would put context to the whole thing.

Mark: That’s what that study from Oxford said exactly, right? Which is like, ‘Look, we’re not even testing people until they have such severe symptoms, they come to the hospital’.

BitBoy: Okay, so Italy has had 7500 people die, Spain’s had 3700. But the problem is their death rate, Italy’s death rate is about 10% and it looks like Spain’s is about 6%. Now, but you have outliers, though. You have Germany, where they have almost as many cases as Spain, and they only have 206 deaths. It’s really bizarre. But the whole point is, that death rate is affected by how many people are in that hospital. So, in Italy, they have so many people that they’re saying that they’re having– you can’t even have a funeral there, funerals are collapsed over there. If your grandma dies in Italy right now, there’s no funeral, they just take her and put her somewhere.

JChains: Do we know the level-

BitBoy: There and in Spain, in both places.

JChains: Do we know the level of healthcare and all of these countries that were trying to compare?

BitBoy: Their first world countries, they’re G8 countries.

JChains: Yeah, I mean, you’d say that.

BitBoy: They’re top of the lot. I mean, they’re in terms of the world, these European countries that we’re dealing with, Spain, Germany, the UK, I mean, these are three of the most advanced countries in the whole world outside of us, China and Japan, probably.

Mark: So I just think as a fundamental investor, I’ve never tried to guess the market. I always look at probabilities like this could happen, what’s the problem if this happens? If this happens, this probability, and what are the factors that would happen for either one of those to become true? It’s kind of like what the CIA does to map out their risk, their threats. So, we can look at the data and go, maybe the whole world friggin dies, or maybe in a couple weeks it blows over, we could look at the data and interpret it however we want. But the data is the data. And that’s the only point that I want to bring in. But I think that now as we’re getting more testing that we’re starting to see the data differently, like as Oxford just put up the study that says, half of the UK already got it. It’s already blown through.

BitBoy: I’ll have to look up that article. That sounds great.

Mark: If we had been doing testing in the US, we probably would have seen that we’ve actually had, you know, a million people infected or whatever.

BitBoy: I would highly suspect that we have.

Mark: But here is a question that I think is a bigger question and the media wants to sensationalize everything. And that’s why I tried to slow the panic down, right and look at the data. And so, Governor Cuomo was on the news saying yesterday like, ‘that’s my mother, that’s your mother, one death is not acceptable’ right? So, I’m just curious what you think about this, about the precedent that’s being set moving forward. So, what I mean by that is, in 2018, we had 80,000 people die of the flu. 80,000 people die of the flu. That’s not typical, that was a heavy year, I give you that. Typical is what, 20-30,000, right? My point is he’s saying one death isn’t acceptable. So, you know, we had the H1N1, the Swine Flu, right? And however many people died of that. We didn’t just not shut the country down, that was never even an option. That never even came to the talk, right? And now what Cuomo was saying and especially just say, ‘not one death is acceptable, my mother, your mother, we will do anything’ and he said he said today, you guys are screwed up, you’re giving me $2 trillion isn’t enough I need more, because one death is unacceptable. So, what is the precedent moving forward? Where we typically have 20 to 30,000 people die a year of the flu, 80,000 in 2018, every time flu season comes, do we shut the country down because one death isn’t acceptable?

BitBoy: Well, I think what we’re going to see is this, I think, either, this is going to just totally disappear and go away, and it’s not going to be a big deal and we’re going to look, and were going to say ‘you know what, look, we had 20,000 people die of this, and we have this many people die of the flu, and it really wasn’t that big deal.’ Or either it’s going to turn into an Italy situation where it shuts our whole country down for a long time, then we’re going to look back and we’re going to say, ‘Man, I wish we would have done more’. So just like you said, we don’t have the data. I think that the issue is, some people are more on the side of ‘let’s just play it out and see what happens’ and then make decisions from that and then other people are like, ‘we see how bad it could get, so let’s try not to get to let it get that far’ and I think that’s the major difference between people who have my mindset, people that have your mindset and then a lot of people I see. Whereas I’m more worried about if the hospitals get overrun here, like they get overrun in Italy, I mean, they’ve already had to cancel elective surgeries in a lot of places. What happens if, well, we’re not going anywhere, but hypothetically, what happens if my wife gets in a car accident? And now we got to go to the local hospital that’s totally overrun. They’re already saying that, for delivery for labor and delivery, they’re not even letting husbands in. That’s how packed these hospitals are in New York right now. So that you can’t get the best care that our healthcare systems used to getting and so that’s kind of the preventative thing. That’s just the difference between the way that I think most people are looking at this. I think that– what do you think about? Do you believe that this just started some natural air? Are you one of those people that think that like that event 201 was a precursor to this? Or do you feel like there’s anything behind maybe some ulterior motives on how this started?

Mark: I try not to put the conspiracy hat on, but a couple things. One, first of all, they’ve made us friggin this way, dude. They’ve made us into conspiracy theorists. There is a lot of shady stuff that they do all the time and they’ve made us that way, too. We grew up on detective shows and murder mysteries, right? Like, we understand motive, like why would they do that, motive, right? So, we understand those things. I think it was very interesting, a couple of dots and draw this as it may and I don’t try to spend a lot of time on this because it doesn’t mean anything to me one way or another. But there was a Harvard professor that got arrested boarding a plane with Chinese nationals carrying bio samples, and he was getting paid. He got paid over $2 million, who was he getting paid from? The Wuhan Institute of Technology. Then now it’s been several weeks a month maybe, President Xi had a press conference in China and said, ‘we’re changing our security protocols of our level one bio facilities in China’. Well, why would they do that? Because there was a breach in the security. Well, how many bio one level facilities are there? One, where is it? Wuhan. So those are a couple of interesting dots to draw for sure. Like you said, we pretty much know started in Wuhan, in a meat market. Now was it done intentionally? Was it an accident? I don’t know. What happens in and this is what came out when Xi did this announcement was that, what happens is, China is so poor and people do unscrupulous things when they’re poor like that and what happens is the doctor sell the lab animals and one doctors in prison he made over a million dollars selling lab animals after they do the tests on them, and they sell them and where do they sell them to? To the markets and people eat them. So after they do the test, they put them in the market and eat them and so where did it come from? It came from Wuhan, in a food market.

BitBoy: Yeah. Oh, that’s interesting.

Mark: Yeah. Another interesting dots to connect.

BitBoy: Well, one other thing I would connect to that is one thing I thought was, I think there’s a lot of really interesting stuff there that I’ve been reading, I don’t know what it all means or how it all ties together. But one interesting thing is, you know, now they said the first case was November 17. Before they said it was in December. Well, on December 1st, China passed a new vaccine law and that law basically made it to where now they can fast track vaccines without having to go through this long trial process they had before. They literally just change that law that’s allowing them to speed up a vaccine right now, two weeks after the first case. So that’s a little weird, too.

Mark: Yeah. And they gave all those kids that medicine and so many of them died and had these crazy adverse effects. It was really sad what happened over there. They don’t care about their people, you know, so it’s a shame to see that. But other interesting facts and again, they’re just facts and they could just be coincidences. Eventually, you have so many though, you start to wonder right? But like, you know, obviously Bill Gates having the test before, and maybe it was just a test and maybe it’s just coincidence, it happen to be at a time and maybe he just happened to quit his job to go run this whole thing and I mean, Agenda 21 have been out there for a long time, we know George Soros and those guys are behind it. I mean, so we know all that data, it’s pretty factual, whether you want to connect it all. I don’t know, I don’t spend a lot of time thinking about that, because it doesn’t really change my life one way or another. I learned something a long time ago that people say knowledge is power. Only actionable knowledge is power. Sometimes ignorance is bliss.

BitBoy: Now, I feel bad. Yeah. I said that. I said that on my channel. I did a video about conspiracy theories the other day and talking about Event 201. And at the end, I was like, basically, I just think it’s all coincidence and people just kill me for it in the comments like people hate that. People believe in conspiracy theories, there’s so and this is really the little scab I’ve been picking at. I’ve been picking it this on Twitter, I’ve been picking it at it on YouTube, they’re impossible to debate with, you cannot debate with a person who believes in conspiracy theories, it’s just like debating religion with someone who’s a very faithful follower of whatever religion, it doesn’t matter what you talk about or how you say it. They’re going to twist it in a way that they’re right and you’re wrong. And if it’s a giant secret society, then it’s this whole thing going on underground, you can’t see. And they’re like, ‘you just don’t know what’s going on.’ But then if it’s like, Event 201 and you’re like, ‘Well, obviously this was out in public. So, this can’t be a conspiracy’ then they’re like, ‘see, that’s exactly what they want you to think’. So you just can’t win.

Mark: Yeah. Yeah. I mean, we do know that you know, they’ve had this initiative. I don’t know if that’s what you’re calling the 201, like the Healthy Families 2020 initiative, right? That’s been for a decade, right? Obama put that into practice with putting all our records digitally online that coincides with the date obviously 2020 is kicking in now, for 10 years they’ve been building this. It coincides with the news Travel IDs that we have to have, right? So now you can’t fly without the new ID, which links to your medical records, so they can see if you’re vaccinated before you fly. I mean these are facts, these aren’t debatable. Why would they want to do that? Why do they want to see every single aspect of your life and tell you what you can and cannot do? Now you can draw your own conclusion as to why they want to do that. But the facts are not debatable, I don’t think.

BitBoy: So, let’s wrap it up with this, let’s wrap it up with this.

Mark: We could go forever.

BitBoy: We can go on forever and we didn’t even really talk about hardly– Well, I guess we did talk about what I want to talk about. But one last point and then I’m going to ask you one last question. My last point I would make is, I do agree that we have to be careful what happens from here. I do believe that. Because like you said about you know, don’t ever let a good opportunity go to waste, a good crisis go to waste.

Mark: Yeah.

BitBoy: I believe that.

JChains: Rahm Emanuel said that. I looked online, he’s like the worst.

BitBoy: Oh god.

JChains: Our News used to call him ‘The Thug Mayor of Chicago’.

BitBoy: Yeah, he’s crazy. He’s crazy. But I do believe that however, I also do believe that I think we learn from the Patriot Act. I think most people in America know what the Patriot Act is, and understood that they slipped it in after 911 and understood it was a bad thing. So, I liked

Mark: But it didn’t get repealed and they actually just read double down on it, they just signed it, extended it.

BitBoy: I understand, but we all cheered it on when it went into effect, most people did, most people were like, ‘we got to attack, we got to get these guys, we’ll do whatever, let’s go to war, let’s put this act in, let’s stop the terrorism’ and until we cheered, I think this time what you’re going to see is yes, we’re all for like push money through, get money to people, but other things that come after this like rules about lockdowns or quarantine during and all that stuff. I think we’re going to pay attention more than we were paying back then I think that will help us not to go down that same path. But the last question I wanted to ask you is what’s going to happen to Bitcoin? This is a Bitcoin podcast. What’s going to happen?

Mark: Yeah, for sure. So, I think Bitcoin and gold are on the same trajectory because we call Bitcoin ‘digital gold’. The reason why is because the reasons why you would buy gold are usually the same reasons why you’d want to buy Bitcoin. Obviously, there’s little nuances there, but we get them to opt out of the current financial system. It’s the only way to get your money out of the system, right? So, there’s a lot of parallels there and we know that you know, even like in 2008, the stocks and gold crashed at the same time. However, stocks crashed 53%, Gold crashed 25% and half as bad. The second thing is that gold rebounded in seven months, it took stocks almost six years to rebound. And so we’ve seen the same thing gold crashed, and it’s rebounding. Bitcoin crashed, and it’s rebounding. So, I think it’s going to be an amazing opportunity to see the government on one side say endless money printing, as they said, unlimited money printing and at the same time Inflation, we’re seeing Bitcoin cut in half and see deflation at the exact same time. It’s very interesting. In addition, we’re seeing the government, so everything that governments doing to combat this, printing the money, squeezing capital controls, all those things are pushing more people to, you know, they’re kind of doing marketing for Bitcoin, if you will. So, I think the outlook, the outcome, the outlook for Bitcoin has never been brighter. Do I think it’s ready to be this store of value for the world right now today? No. I think it’s a little bit too young. Gold’s been around for 5000 years, Central Banks are buying it, bitcoins not. But it doesn’t, it doesn’t need to take over the world right now, it just keeps growing and keeps doing what it’s doing. So, I’m super bullish.

BitBoy: Awesome.

JChains: Yeah, that’s good. I mean, this was like his first test, right? This is like the first time Bitcoin’s have been tested. 2008 was the last time Bitcoin came out right after that was kind of the way the remedy to it. So, it was this first test. So it’s got a long life to live.

Mark: Are you bullish on it?

JChains: Always. BTFD baby.

BitBoy: Yeah, I mean, I think that, you know, initially I was pretty scared by what happened two weeks ago on Thursday. Well, two weeks ago pretty much we’re recording this and it really scared me because of how much further it dropped and everything else. And you weren’t seeing the stock market fall that bad. I mean, you see the stock market fall like 6%. But now what we’re seeing is, like, up until the last, the rebound the last few days, Delta was down 60%. You got things that are more volatile than Bitcoin and I think that there was, it was a combination of a pent-up dump that needed to come. Obviously, the stock market dumping was part of it and people were trying to get liquidity and I also think I heard there were some whales that were trying to offload some Bitcoin at the same time. So, I think that initial drop was way worse than it should have been naturally. And I think what we’ve seen since it’s been Bitcoin has held its value pretty good and I mean, the fact that we’re right now right back up very close to $7,000, I mean, none of us would have thought we’d be here this quick, you know, when it dropped down to 3600. So, overall, I like where we’re going. I like where we’re going with the halvening. I think if we can get back to 8k by the halvening, I think we’re still on track for everything.

Mark: A couple things I’d say about that. Hunter Horsley on Twitter put out a thing basically saying how, you know, when you when you look at different investments, you have to look at their volatility ratings, their risk and return profiles, and then you weight them in your in your portfolio, and so when you look at Bitcoin on an adjusted basis and volatility and risk reward return profiles, when you adjust it for that market cap size, etc., it actually was the same as the stock market dropping 10%. So, it’s actually on an adjusted basis when you weigh it out. It’s just as volatile as what the stock market is. The other thing that’s super interesting is that the stock market, in order to keep it from only crashing 33% and not 80% now some did crash 80-90% but the overall market crashed 35% in order to do that, it triggered like six or seven circuit breakers.

JChains: That was crazy.

Mark: It required the plunge protection team and it required $2 trillion to keep it from going more than 35%. Bitcoin dropped 30% and it didn’t have no circuit breakers. It didn’t have a bailout.

BitBoy: Yeah that’s a great–

Mark: That’s very powerful. And with what happened with Bitcoin crashing that fast that far, you know, was all the short bots piled up and then Bit Mechs crashed, the market seized and  there were too many people on the wrong side of automated trade, you know, but that’s why it bounced back so quick. So anyway, all those things make me even more bullish.

BitBoy: Yeah, it’s one of those things where it’s like, somebody made a tweet where they said, ‘a hedge-able asset or something like that is, you know, it’s not crisis proof,’ I think it was the Winklevoss twins, they said like, it’s something that you can hedge value with. I mean it’s still in a crash in an economy crash, it’s still going to go down. There’s nothing that will be you know, absolutely recession-proof or you know, it will be immune to drops. And so I think that this could be the moment Bitcoin’s waiting for. I think that could have been the capitulation moment for a lot of people. I mean, I know there’s a lot of YouTubers and people I follow that haven’t even been back since that drop. So, but you know, a lot of us we’re going to be here no matter what, and we’re going to talk about this no matter what, and it was a good conversation today. Enjoyed having you on Mark, it would be nice to talk a little more crypto. But I just think what’s going on in the world right now is more fascinating than what’s going on in our little space. I think these are important conversations.

Mark: It’s the elephant in the room, it dominates all the conversations. I would just end this with saying to all those people that are waiting to buy the dip and they’re waiting to call the bottom, you have to understand just how markets work, right? Markets stop going up, when there’s no more buyers. They stop going down when there’s no more sellers. And as long as our conversations keep getting dominated by this, we haven’t found the bottom yet. So once this gets out of our vocabulary, we stop talking about this, that’s when we’ll find the bottom of the market and we’ll start to come back up again.

JChains: Wise words. Thank you, sir.

BitBoy: Alright, and we’ll have some links down below where you guys can go follow Mark, make sure you guys go follow him on Twitter and follow him on YouTube, Mark Moss. Thank you so much Mark for coming on.

Mark: Yeah, thanks so much, guys.


Episode 84: Government Printer Goes BRRRR


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