Episode Transcript
[00:00:00] Speaker A: Bitcoin is the only technology that's ever existed that allows us to store value over time and space.
So if what money is supposed to do is it's supposed to take any work, right? Any energy that you do, anything that you put in work for, that's what, that's what work. That's what work. And that's what money is, right? You do something, you get a return on your investment for that energy, that time and that work and that effort that you put in, you get money for it. The problem is that money does not hold its value. It constantly gets debased, it constantly gets inflated. You can look at any money throughout history and you can see that the power structures, the governments, the corporations, the people who control everything, they make your money worth less. Bitcoin is the only technology that's ever existed that allows us to store value over time and space.
That use case is the most important use case in all of human history.
Because money is everything. Money is what allows us to do things. In the modern world, if you don't have money, you can't do stuff. And so once you understand that the money is broken, the money's been broken from the moment we invented it, money has not worked. And this is the upgrade. This is finally the upgrade of money. And money affects every single aspect of your life.
[00:01:22] Speaker B: Hello, welcome to the. Welcome to Money Adjustment. I'm your host, Dr. Mark Kramer. D.C. i am a chiropractor who loves investing and trading. Are you interested in what's moving markets and your money?
[00:01:36] Speaker A: Great.
[00:01:38] Speaker B: Let's get started.
Hello everyone.
Welcome to the Money Adjustment podcast. Today I have with me someone. This is going to be interesting because I'm less familiar with you than other guests I've had. So for the audience, I've been doing spaces on X and I've been attracted to the bitcoin today community and the bitcoin community. And the more I listen, the more attracted I get. I don't know how else to say it. It's a. It's a very interesting topic, but I invited today's guest on because I was in a space and I just felt like you have a very, how do I phrase this, like a level headed voice. There was a lot. Some, some people in those spaces can get a little bit heated and it's nice to hear somebody that just has somewhat of a, I would say calm demeanor, a little bit more Zen kind of vibe.
Let me see if I can say your name correctly here.
Tevolo.
Awesome. Jesse Tevallo. Jesse. Okay, Jesse.
I Listened to Jesse in Spaces. I was very impressed with the way that he communicated himself. And I asked him to be a guest on the Money Adjustment podcast, and he graciously accepted. And he's here with me, us today. And I look forward to picking his brain because I don't know you very well. It'll be a good place to start. Maybe just how you got involved in Spaces. Let's pick it up there.
[00:03:05] Speaker A: Yeah. Well, first of all, thanks. Thanks for having me, Mark. It was great to get your little DM message that you wanted to have me come on. And, you know, I used to be on the podcast circuit quite a bit, and I hadn't been around much lately, and I'm working on my fourth book, and so the timing is perfect. Happy to be here. Yeah. I got. Got into X spaces because I was actually big on Clubhouse. If you remember the Clubhouse days, that was another app that came before X xspaces. And I was starting a company at the time, so I sort of stopped doing Clubhouse. And then I stopped doing. Doing X, was doing a lot of building. I had my head down. And then, you know, I've been in Bitcoin since 2015, so I'm a longtime bitcoiner. And I knew that I was. I was building up my sort of, you know, my thought leadership around bitcoin with the projects I was doing, but I hadn't come on X yet. And so I decided, started coming on X and quickly found all the bitcoin spaces, and now I'm pretty much on there every single day. And I'm addicted, and I'm obsessed, and I love it. And that's. I get that where I meet amazing people like you.
[00:04:08] Speaker B: So it's. Yeah, no, I appreciate it, and it's mutual. I get to meet amazing people like you as well. So when did you actually get on Spate? Like, have you. How long have you been doing this for? Because just for context, I jumped on maybe, like, a few months.
This is, like, new to me. I remember when Clubhouse came out, I went on, like, once or twice, and then I was just like, I don't know what's happening here? To me, it felt like an awkward phone call. I'm a little. I'm older. I'm a little bit older than you, so it felt kind of strange to me. Anyways, how long have you been on Spaces for? Or when did you get into it the way you have?
[00:04:39] Speaker A: You know, it was. A lot of things started happening around the. The election, the 2024 election. So November 24th and I started sort of coming on to X and doing some posts and I was pretty quiet on X and I hadn't been doing much. Started doing some posts and then, you know, by December, January I was, I was on there going on spaces. So it's. What is it? It's summertime now. So it's been about six months.
[00:05:02] Speaker B: Okay, that's pretty cool. So like, it's interesting because it seems like a few people like November. There was something about November that, that drew a community.
You guys, I have to say, have a. I don't do a lot of spaces, so I don't. I can't say I have a strong comparison, but the community that, especially the bitcoin today, I find myself really drawn. It's just a. It's a.
It's like a think tank in my mind. Is. Would that be a good way to articulate it?
[00:05:33] Speaker A: Yes, I would say that the bitcoin community, and specifically this bitcoin today kind of crew that that is, that is formed has been very organic.
It is the most special, unique, powerful community that I've ever been a part of. And I'm a community builder. That's like what I do. And so I've spent almost 20 years doing marketing and nurturing communities. And I do launches and so I build communities for pre launches. And I've never experienced anything like this. You know, I worked with a lot of powerful people, high net worth, you know, people with really intense communities. And bitcoin just hits different. It just hits different because I think the reason is the ethos underneath bitcoin. And I always say that there's a. There's a spirit underneath bitcoin and that spirit is love. It's this energy of love. And most of the people that are on bitcoin today, like, we're not. There's no central source or anyone like organizing. Like, we just, we just come together and we're just there and we're obsessed with bitcoin and we want to learn from each other and we want to teach people.
And it's beautiful.
It is such a collaborative, amazing environment with the smartest people, most intelligent people I've ever met in my entire life.
[00:06:52] Speaker B: Yeah, I would have to say that's my experience going on there is to listen to these people.
I just feel like my mind expanding every time that I go on. And I love the spiritual basis for it because when you talk about money, you rarely get into the spiritual realm because for appropriate reasons, the two are separated. But when you're dealing with a new Asset class and something that's really challenging the way people think about.
Think about money and think about how it impacts their lives. I have have followed Bitcoin since 2008 and I just, I had. I didn't have any skin in the game until 2020 and I can't say that I even. I don't even have a cold storage wallet yet. So, like, that's like. Gives you the context for like. I just watch and I watch and. Yeah, ex. Exactly. I did order a Trezor and the recommendation, Joe recommended Trezor. And so I did order that. That's in the mail. But my point in saying that was in my circle of friends, which is just retail investors, I'm like the bitcoin expert. And then I go on and I listen to these spaces and I was like, wow, I don't really know. I know enough to know. I don't know a lot. So I get on these spaces and I learned so much. But it, but it is, to your point, it's such an interesting community to be a part of because everybody's learning together and there's a to learn because we're heading into some uncharted territory here.
I actually want to just get into your book because the title is kind of fascinating and it's definitely relevant. And it's called Life after Bitcoin, Correct?
[00:08:35] Speaker A: You got it.
[00:08:36] Speaker B: Give us a little rundown about life after Bitcoin.
[00:08:40] Speaker A: Yeah, so this is going to be my fourth book.
So I wrote my first book just about 10 years ago, almost exactly. It was, I think, came out in the summer of 2015.
And that book was called. Is called the Connection Algorithm. And the Connection Algorithm was all about relationships and making connections and sort of like skipping the ladder of life and like getting out of the nine to five.
And back then in 2015, that's when I started getting into bitcoin as well. And you know, bitcoin had been around for, you know, five, five, about five years at that point.
And I postulated in that book this sort of theory of zombieland. I called it Zombieland. And it was about. I used a lot of references from the Matrix and about how people were sort of living in the Matrix and it didn't feel right. And how do we. How do we kind of get our own sort of passion back and enjoy for life and take risks and take chances and meet really cool people? And that was 10 years ago. And I've written a couple other books since then, but now, 10 years later, I've got this book, Life After Bitcoin and the concept of life after bitcoin, it's kind of a play on words, the title, because if you don't really know anything about bitcoin, you think that there's something after bitcoin, like bitcoin ends. But if you, if you study bitcoin, you know that bitcoin never dies, bitcoin never ends. Okay? If you're kind of more involved and you've done enough study, you realize that bitcoin is probably one of the most. I argue it's the most. It's the most important invention in human history.
So I think it's a once in a species event, okay? And so life after Bitcoin is like, you know, you have bc, you have AD and then you're going to have AB after bitcoin. So it's on the time spectrum and on the COVID of my book right now. The cover's not finished, but that's kind of the concept I'm going with, like, you know, the timeline of human history.
Now, the deepest meaning of the title, Life after Bitcoin, is that it's a personal journey. And so the more you learn about bitcoin, the more you learn about yourself. So it becomes this internal journey and this exploration. And that's the deepest meaning behind the book, is that it really tells you who you are. And that's the concept of the title. And within the book, I talk a lot about sort of, you know, explaining what bitcoin is. The fact that it's much deeper than an asset. It's an. It's a protocol, it's a technology.
And it's actually predicated on sociology and psychology and social values and the social constructs that we live in. It's about, you know, corrupt governments and fixing that problem and individual sovereignty and the shift from corporations and corporate structures back down to the individual. And so I talk about that a lot in the book. And then my thesis is that there's a marriage between Bitcoin and artificial intelligence. So my theory is that Bitcoin and artificial intelligence together are going to create a new golden age, or I call it the Second Renaissance. So I think we're heading from the Fourth Turning, which is, if you know anything about the Fourth Turning, it's this generational sort of structure that we go through.
[00:12:01] Speaker C: Imagine history as a cycle repeating every 80 to 100 years.
This is the core of the Fourth Turning, a theory by William Strauss and Neil Howe. It divides history into four phases. And today we're diving into the final one, the Crisis. The crisis is a turbulent, transformative period. Think the Great depression, World War II, or the American Revolution. It's when society's institutions crumble under pressure and collective challenges demand bold action.
Old systems break down, new ones are born. It's a time of upheaval, but also opportunity. In the crisis, people unite or divide as they face existential threats. Think economic collapse, war, or cultural reckoning. It's a forge where heroes and villains are made and the choices we make reshape the future for generations. The Fourth Turning says we're in a crisis now. Will we rise to rebuild or fracture further? The clock's ticking and we're in the.
[00:13:01] Speaker A: Fourth Turning, which is turmoil and all the bad stuff. But after the Fourth Turning, you get to a rebirth. And that's what I think we're headed to. Is this ultimate, you know, hopefully hundreds or maybe thousands of years of prosperity. So.
[00:13:17] Speaker B: Wow. Wow, that was really impressive. Now I'm like, I want to read this. I definitely want to read this.
[00:13:23] Speaker A: Send you a company. It's not out yet, but I'll send you a pre release.
[00:13:26] Speaker B: Please do, please do. I will definitely check it out. Because there's a lot of things that you're saying that resonates with me. I, I have an interest in deep history and thinking about things from a big history lens. And I think about, I love how you brought in the AD BC or if you, if you're more the. If you're into the Common Era, like before the Common era, BCE or the Common era C, whatever your. Your preference is in that regard. But would you say the ab, like after Bitcoin, the AB era. And I think it's, wow, kind of fascinating to. I never heard that postulated. I think that's a very interesting lens or different, I should say an interesting way to frame that.
And then I think to myself, like going back to the cold storage and how like I've been doing like been watching it for, you know, however, since 2008, however many years that is now. Sixteen plus years, four cycles. And only now am I comfortable to even dip my toe in the water. Like I'm trying to bridge a gap. Because I keep thinking, why am I doing this? I don't like, this is not what I do professionally. And I'm thinking there's a lot of retail investors like me who don't have quite the insight that you have and don't have quite the. Haven't been immersed in the depths of it. They've seen it on a superficial level. Like we're like, oh, we're going to watch the price go up. Oh, my gosh. Bitcoin was a dollar. Now it's $100,000 and too late. I missed that boat. And you said something. It's like, it's the beginning. So life after bitcoin, a b, whatever year that is. Do you have a year where I guess that would start? 2008. Would it be 2008? A.B.
[00:15:08] Speaker A: Yeah, it would either be, you know, October 31st or be the 3rd of January, 2009, which is when the, you know, there was the white paper and the genesis.
[00:15:17] Speaker B: Yes, yes.
[00:15:19] Speaker A: We'll figure out who is the person who gets to decide the exact date. But, yeah, it would be right around there. 2008, 2009 is life after bitcoin.
You know, we're still. We're still getting there to the point of saturation. We were not even close to mainstream adoption yet. But if you were to chart it out, I actually have in the book some moments in time, you know, when the wheel was invented, you know, when the printing press was invented, the. The Internet. There's a couple different things I list out. And then there's bitcoin.
[00:15:51] Speaker B: Love that. I love that. And I didn't fully appreciate this either. And it was something that Joe said to me, and he said, we haven't even. We don't have the. We don't even have the base layer yet.
So, like the application, the use case for Bitcoin, and the reason people say, oh, no one uses it, we're not going to use it. And it's like, we haven't built that first layer. We haven't had that tipping point yet. That threshold where enough people use it or see it or perceive it as a store of value or currency. What are your thoughts on that?
[00:16:22] Speaker A: Yeah, I mean, I would argue that Bitcoin has the most important use case in all of history.
And that use case is that it has effectively allowed us to store value, and it allows us to store value across space and across time.
So if what money is supposed to do is it's supposed to take any work, right? Any energy that you do anything that you put in work for, that's what. That's what work. That's what work, and that's what money is, right? You do something, you get a return on your investment for that energy, that time and that work and that effort that you put in, you get money for it. The problem is that money does not hold its value. It constantly gets debased. It constantly gets inflated. You can look at any money throughout history. And you can see that the power structures, the governments, the corporations, the people who control everything, they make your money worth less.
Bitcoin is the only technology that's ever existed that allows us to store value over time and space.
That use case is the most important use case in all of human history.
Because money is everything. Money is what allows us to do things. In the modern world, if you don't have money, you can't do stuff. And so once you understand that the money is broken, the money's been broken from the moment we invented it. Money has not worked. And this is the upgrade. This is finally the upgrade of money. And money affects every single aspect of your life. It affects your mental state. It affects your ability to do things. It affects, you know, your ability to plan for the future. It affects, you know, the, the contributions you can make to the world. It affects social structures on a macro level, meaning peace versus corruption and war.
So it literally affects everything. And I argue ad nauseam about this, about how bitcoin has already found its use case. But to your point, you are correct.
It is so early in the evolution of this technology that people don't know what it is. They don't know how it works. They don't realize what money is in the first place. They don't understand the value that it brings. And it's the base layer of this protocol. And there's going to be all kinds of products and services that are built on top of it. And that largely hasn't happened yet. We're just getting to the beginning of people starting to build real products and services on top of that.
[00:18:55] Speaker B: Yeah, that resonates with me. And I think to myself, there was a comedian that said, let me explain Bitcoin to you. Take everything that you don't know about money and everything that you don't know about technology, and that's bitcoin. So you really have to understand both worlds. I think, think that we've gotten to a place. Let me give an example to illustrate this point. My father in law and I have had the bitcoin debate for maybe about five or six years now because it only really started, probably started more actually more like 2020 when I was starting to invest in bitcoin. And he's like, ah, it's garbage, it's going to zero. That's like the FUD stuff. And so I didn't even debate with him because I'm like, you don't change somebody's mind that already has that framework.
So fast forward Five years, you know, we're at a hundred. I don't even check it. Today we're like what, 108, 110 somewhere fluctuating in the low, you know, upper one. Yeah, that area. 110,000. Let's just say I like a weekend ago I had a conversation with my father in law and he's like, yeah, I still don't buy. And I was like, I finally like just got tired and I'm like, you're on the wrong side of history. You've already kind of lost this debate. And I'm getting to the point now where I think it's harmful because like there's a legacy thing happening here. This is the grandfather of my children.
And so like there's a legacy carrying forward and I, I don't get involved in his finances or tell him how he should spend his money or, or make any financial advice to him. But after listening to all these spaces and like finally starting to appreciate myself and someone like me who's appreciates it conceptually but still has yet to play around with cold storage, just to me tells me how much room there's still left to go because there's the degrees of people who will never touch it at all. And then maybe someone like me who will like, I definitely, I hold bitcoin, but I hold it through a custodial account. I hold it through multiple different accounts on different platforms to help me tolerate the volatility. So, and I, I do understand not your, if you don't own, not your keys, not your bitcoin. So like, I accept that. I'm like, I don't know what I would do with the keys anyways. But now that I am being educated through these spaces, I am, I, I'm so hungry to get into cold storage. And I'm like, I could have, I had a lot more bitcoin than I have now because sadly I sold a lot of it. But I was thinking to myself, I really care less about the price now and I'm just more interested in just stacking it and just getting the cold storage and starting from fresh. So I feel like whatever I do on cold storage is going to be a fresh start. And it's just like you said. And I do feel this way. It's like a psychological thing for me.
[00:21:43] Speaker A: So, yeah, so I wanted to piggyback off of a few things that you were saying. First of all, I've been in bitcoin deeply, very deeply inside the industry building, talking to all the people, all the experts Right. And I am nowhere close to knowing everything there is to know about bitcoin. So that tells you, and I say often, you never stop learning about bitcoin. That's in my book. That line is in my book. You never stop learning about bitcoin.
And that's because it is so expansive. It is this vast new technology that touches again every aspect of humanity. And so you. There is no possible way to know everything there is to know about bitcoin. It's just impossible. You can ask anybody like me who's been in it for, for the whole 15 years, 16 years, and they'll tell you the same thing. But what happens is the more you learn, the more, the more convicted you become. You get this convict, this level of conviction that starts to take it from, hey, I'm scared. Because when you don't understand something, there's fear. We fear the unknown, right? That expression, fear the unknown, once you learn, you become less fearful of something. And that's what you're talking about with not worrying about the price and wanting to get cold storage and just wanting to get more and more and more because you understand there is no risk. There is no risk in bitcoin. I tell people that is the safest possible investment that you can make. Now, yes, there's volatility in the short term, but once you understand time preference. Time preference is your ability to look out into the future. If you have a low time preference, that means you have a long term view of things. If you have a high time preference, that means you're, that means you're at Vegas hitting the slot machines and you're just looking for a big hit. You're looking for dopamine. And our culture is one of very high time preference. We've been taught through social media, through likes, we want to get this quick, quick hits, we want quick results, we want to find the next big thing, right? We want to make a million dollars tomorrow. That's high time preference. But what bitcoin does is it teaches you low time preference. It teaches you value again over space and time.
It holds that value over space and time. What that means is 20 years from now you can be confident that you're going to hold that bitcoin and that that bitcoin is going to have appreciated in value. Why? Because no government can take it from you. No government can inflate the supply so no one can make any more of it. And you know from Economics 101, right, supply and demand, if something's rare, it's valuable. Bitcoin is extremely rare, and it has been now put into the mainstream enough. It has enough adoption that it's not going away. And that's why you saw all this push back in November. Because once the United States government says, we are all in on this bitcoin thing, we're going to have a strategic bitcoin reserve. At that point, your risk is mitigated. Just think about it logically. Read between the lines. If you have the head of the most powerful nation in the world and all of these important people saying, we're stacking bitcoin, you should probably be stacking bitcoin as well. And you can realize that they now are incentivized to uphold the bitcoin network, just like me, just like you, just like everybody who holds bitcoin. Right? We want to make sure it stays where it is. We want to make sure it stays strong. So now it's like there is. You know, Lyn Alden says there's no stopping this train, Right? Nothing stops this train. And she's right. One other thing I wanted to mention about your father. Let's take the analogy of fire again, okay? When fire was invented, people were scared of it.
It was dangerous. It could burn you. It could hurt you. It was this bright thing. It could grow and spread. And, you know, most people were completely freaked out by it. It had to be wielded. We had to figure out how to use the fire, how to contain it, how to build it properly, how to use it to heat things, using the heat to create food that we could eat. It was more nutritious and better for us. Like, whenever there's something new that humanity comes across that we invent, that we create, that we discover.
We're scared because we fear change. We fear the unknown. And that's all that's happening with bitcoin right now, is that you either see it or you don't. And the more you learn about it, the more you can wield the power of bitcoin to your advantage. And as I'm sure you know, there's opportunity in getting into something early because it's still being adopted. What does that mean? There's an opportunity as it grows.
And bitcoin is engineered such that as it gets adopted, the price appreciates. And again, that's because of the fixed supply. So if you understand fixed supply and you understand adoption curves, then you realize this thing has only been adopted by a small fraction of the world. And the most powerful people in the world are stacking it.
And anybody can get It.
So this is a special, special time in human history for the biggest wealth transformation in human history.
[00:26:51] Speaker B: Yeah, I love that. I love that. I can see it. Let's talk about risk for a second. So I think making that distinction between the price of bitcoin and bitcoin itself is of value because if you're just focusing on price, then people go, bitcoin is volatile. Look at the dollar is always a dollar. But it's like, what are we talking about? We need to be talking about value.
The value of the dollar is not always a dollar. And in fact, if you watch the value of the dollar over time, it is a depreciating asset because it's inflationary. So it loses its buying power. It loses its purchasing power over time.
I heard Dark say that. I mean these, like, I'm learning from all of you guys. So, like, I heard dark say the dollar is volatile.
[00:27:37] Speaker C: We say in, in, you know, the bitcoin community, we have a saying. TikTok next block. You know the mathematical equation, the perfect math behind bitcoin is that it's perfectly predictable.
Every, you know, if you look over any period of time, on Average, you know, 9 minutes and 48 seconds, whatever it is, there's a block created. TikTok next block. We know exactly how much bitcoin will be created today. We know at what time approximately it will come. Everything about bitcoin is perfect math. It's open source. Anybody can go and audit the code.
Anybody can go and audit the blockchain. They can verify that everything that that's in the perfect math is coming true. It has since its inception, it's been perfect. You can't say that about the dollar. Nobody has any idea what the supply of the dollar is going to be. Nobody knows what the Federal Reserve is going to do. No one knows what the treasury is going to do. The volatile asset here is the dollar.
[00:28:33] Speaker B: And that was the first time that kind of shift happened for me when I was thinking about it differently. And I'm like, just because you look at price stability and think, oh, it's stable because a dollar is always a dol, you're not really looking at the value of that dollar. I can hear dark again, like the fiat mind. Right? And so it's all a trick.
[00:28:52] Speaker A: It's all a yes, it's all lies. It's all lies. You want me to just riff on it? I can riff on it for as long as you want.
[00:28:58] Speaker B: Yeah, I bet.
[00:29:00] Speaker A: So the dollar is not only volatile, it is actually designed to lose value.
It is literally designed and engineered to lose value.
Okay? And $1 is not $1 in the sense of it can't buy you the same thing that it buys today, tomorrow. So yes, you can look at a dollar bill and it's going to say one. The dollar bill is going to say one dollar on it. But as we know what happened to gas prices over the last 30 years. When I was a kid, I could, when I first got my license, I could fill up my gas tank for under 10 bucks.
Now it costs me almost $80. So is that dollar worth the same? No, the dollar is worth less. It says $1 on it. But you need more of those dollars to do the same thing to fill up the same amount of gas in the car. And so people get confused with that number on the dollar bill that says 1 or that number on the $10 bill it says 10. It doesn't matter what the number says. What can you get with it?
That is the mind of the United States government. And what happened is we used to be backed by gold. That's what the gold standard was in the gold reserve. We had a reserve with, you know, apparently allegedly we had gold, right? We don't really know. Which is another one of the problems that bitcoin solves because bitcoin can be monitored and everyone can see it. And it's updated every 10 minutes. And it's an immutable ledger or on average 10 minutes, I should say.
But with, with all other currencies, we have no idea. We don't know where the gold is. We don't know if there's a bunch of dollar bills being printed right now or, you know, what's. We can't keep track of all that, right? Bitcoin tracks everything. The problem with the dollar is that there's no fixed supply, okay? And it, what that does is that creates inflation. When people say we're inflation, that's what's actually happening is the United States government is inflating the dollar, which decreases the value of the dollar by putting more money into circulation.
So let me just give you a simple example which I use in the book, okay? In my book, imagine a small little town, okay? A tiny little town. And that's the only town on planet Earth. And there's just a couple people in that town. And that town makes apples, okay? And there's 10 apples, okay? And that's it. There's just 10 apples. That's all we were able to make.
And we created ten dollar bills or ten one dollar bills. So there's ten dollars. Ten apples.
Okay. How much does each apple cost? Cost one dollar. Right? Okay, so. So you got ten dollars. Ten apples. Each dollar. Each apple is one dollar. Okay, now what happens if I decide in our little community of people that I'm just going to create 10 more dollars?
Now we have $20.
We still have 10 apples. How much is an apple now? An apple's $2.
We have $20 and 10 apples. Of course we're going to try to get the most. We're going to try to get the most we can. We know that there's $20, so we're just going to raise the price. This is why your gas costs more. This is why food at the grocery store costs more. Because the government is just adding more and more dollars. It's the same apple. Those apples didn't change. They're not sweeter, they're not bio, you know, engineered to be better. They're not bigger. It's the same apple, but it now costs $2 for the simple reason that I created more dollars. That's the mind fuckery of it.
[00:32:37] Speaker B: Yeah.
[00:32:38] Speaker A: So. So, so you know, everything that you've been taught about money, you really have to kind of unlearn the things that you've learned because the dollar is anything but stable. It is not stable whatsoever. It's lost almost 95% of its value. Yeah, I think, you know, the last 50 years or something like that.
[00:32:57] Speaker B: Yeah. Every time I hear this explanation now, I hadn't heard the apples one before, but I heard a different one. Every time I hear some explanation of this, it registers more deeply and there's like a little nuance that I pick up. And so I love that analogy with the 10 apples. So like let's now contrast that with the bitcoin. So the dollars, infinite supply, we can go into infinity. We never know the value of anything really, because it's printed into infinitum. So there's. Do you really know the value of anything? Let's talk about how you know the value with bitcoin.
[00:33:32] Speaker A: Yeah, so. So bitcoin is literally the opposite that the Fed can literally go push a button on the money printer and just create more dollars. Now there's more dollars out of thin air. Bitcoin is engineered so that you can't do that. We don't need to necessarily go into the weeds of the technology that's. That's underpinning that. It's very complicated. But what you need to understand from a basic level is that there's only a certain number of Bitcoin, there's 21 million Bitcoin and there will never be any more bitcoin. And so because of that, you can't debase the value. And so when we say one bitcoin is one bitcoin, that is actually true in the sense what we mean by that is that it holds its value unlike the dollar. When you say $1 is $1. But yeah, but if you create more dollars, it's worth less, Right? And that's the trick. That is the trick because it's still that same $1 bill. The issue is being able to create more of something.
Think about why gold is valuable. Why is gold valuable? Because we say it's rare, right? It's rare. It's a mineral. It's in the earth. There's not a lot of it. You have to go mine it. It's hard to get it. That's why gold is seen as being this valuable thing. But even gold doesn't even stand up to bitcoin at all. And I could go toe to toe with Peter Schiff any day on this because it doesn' up at all. There's no comparison. You know, we'll continue to find deposits of gold. Well, there's, there's people that are exploring asteroids right now, finding gold that are on asteroids. Pretty soon we'll be mining gold off of asteroids.
There is no way to create more bitcoin. That's what makes it the best asset in the world. There's nothing like it that's never been done before. That's what makes it the most important invention in human history. Because we've been trying to find a way to have this, have money, but the money always gets corrupt. The money always gets corrupt. The government always finds a way. You can look back at any currency in history and there's always a way to debase the money. Bitcoin is the first thing. It's the only thing in the world that cannot be debased.
[00:35:39] Speaker B: Next time I have to get my phone where I have blocked all callers. I have a few people that can get through and this one person is really trying hard to get through. Jesse, I'm going to have to have, have you on again because I love talking to you and I love hearing what you have to say. And I really want to dive into the AI Bitcoin thing because that just seems like it's ripe for a lot of area of exploration. So would you be willing to come back on again at some time?
[00:36:04] Speaker A: Of course. Yeah, no problem, man. Happy to. I'm the kind of guy who could speak for hours. So no.
[00:36:11] Speaker B: And I think this is such a great community and the people in spaces definitely have a lot of knowledge to share. So that's why I'm so attracted to just drawing people onto this podcast, us that can share that knowledge. And please definitely send me a copy of that book and the next time, actually when it comes out, will be a good time for you to come on and we can really dive into it.
[00:36:30] Speaker A: Absolutely, man.
[00:36:33] Speaker B: Thanks again, Jesse. Yeah, appreciate you too. We'll chat soon. Okay.
[00:36:37] Speaker A: Cheers, man.
[00:36:39] Speaker B: Bye. Bye, everyone.
Thank you for watching this episode of the Money Adjustment. If you want more like comment and subscribe, you can follow me on X ark Kramer until the next episode. Stay healthy and wealthy.
[00:37:00] Speaker A: Let's take the analogy of fire, okay? When fire was invented, people were scared of it. It was dangerous. It could burn you. It could hurt you. It was this bright thing. It could grow and spread. And, you know, most people were completely freaked out by it. It had to be wielded. We had to figure out how to use the fire, how to it, how to build it properly, how to use it to heat things. Using the heat to create food that we could eat. It was more nutritious and better for us. Like, whenever there's something new that humanity comes across that we invent, that we create, that we discover. We're scared because we fear change. We fear the unknown. And that's all that's happening with Bitcoin right now, is that you either see it or you don't. And the more you learn about it, the more you can wield the power of Bitcoin to your advantage. As I'm sure you know, there's opportunity in getting into something early because it's still being adopted. What does that mean? There's an opportunity as it grows. And Bitcoin is engineered such that as it gets adopted, the price appreciates again. That's because of the fixed supply. So if you understand fixed supply and you understand adoption curves, then you realize this thing is has only been adopted by a small fraction of the world. And the most powerful people in the world are stacking it, and anybody can get it. So this is a special, special time for the biggest wealth transformation in human history.
[00:38:28] Speaker B: Yeah, I love that.
