The following is a guest post from Christina Comben.
The first time I met Mark Moss was at the entrance to the media center beside the main stage. Bitcoin MENA Abu Dhabi hosted the first official Bitcoin conference in this part of the world. Although we had never met before, his familiar speaking style, infectious personality, and insightful content ( YouTube channel and bestselling books non-communist declaration), I feel like I already know him.
Mark has been promoting the benefits of Bitcoin to anyone who will listen since 2016, and was a serial entrepreneur long before that.
“I started my business in 1999 at the height of the dot-com boom. It crashed. I started another business in 2001, an e-commerce business, and it wasn't easy,” he says. laments. “It was terrible timing. Everyone laughed at me and said no one would buy anything online. I built it and got a big exit.”
From Orange County to Abu Dhabi
What drove him to Bitcoin MENA all the way from his home in Orange County to the plush capital of the United Arab Emirates?
“I'm an educator and content creator,” he says. “I am also a partner at Bitcoin Venture Capital fundso we invest in businesses that are built on and around the Bitcoin ecosystem. I also run a new company called Matador, which just went public in Canada. The company operates a Microstrategy business that uses Bitcoin as a balance sheet asset and invests through the Bitcoin Layer 2 space. That's why I'm actively educating and investing in this field to build the world I want to see. ”
What kind of world is that? For Mark, it's definitely Bitcoin, not virtual currency. He has been on the altcoin roller coaster and believes that no other cryptocurrency has the “long-term” staying power. “I certainly made a lot of money,” he says, repeating it with even more emphasis, “a lot of money.” I'm waiting for him to share the usual lessons like getting your stash down to zero or going wild at a shitty coin casino, but he says this.
“In 2017 and 2018, we were competing for Layer 1. Ethereum, Cardano, Litecoin, NEO…well, Bitcoin won that. So the crypto story shifted to DeFi and everything It collapsed. And then cryptocurrencies moved on to NFTs, and now it's meme coins. No one thinks it's the technology that's going to change the world.”
He acknowledges that memecoins (and altcoins in general) may serve some purpose as a “gateway drug” to draw people into Bitcoin. “People come for money, and they stay for freedom.” Embark on the Bitcoin journey and discover why you need money to withstand unauthorized censorship in the first place.
“I think stablecoins will lead to that as well,” he says. “Eventually, people will get used to having wallets and transferring digital assets, but then why can they buy fewer goods and services with USD stablecoins and why can they buy more with Bitcoin? You start to wonder, and I think eventually it all comes together.”
The flawed fiat currency system and the magic money printer
Mark says the main problem with fiat currencies is that they have no cost of capital.
“When you start to understand money, you realize that if people got rich by printing money, why not just print more?Money must have a true cost of capital. For example, with gold, you buy land, acquire equipment, and spend energy and capital to acquire gold. But with Bitcoin, new coins are only released if you spend the money and do the work to get the gold. Therefore, there must be a true cost of capital. You can't print money out of thin air, or we'd all be rich.”
He points out that S-curve model To measure the adoption of Bitcoin.
“The way the S-curve works is that the time it takes to reach 10% penetration is the same as the time it takes to reach 80-90%. (between) We see retail adoption reaching $1.2 trillion between 2010 and 2020, but then institutional adoption. It will be 90%.”
What would a world with 90% Bitcoin penetration look like? Is the collapse of the legal system and Armageddon on the streets inevitable? Mark stopped and shook his head.
“One of the big misconceptions is that once Bitcoin reaches $1 million (which Mark envisions around 2030), or $10 million per coin, fiat currency will be worthless, and now it's worth $100,000 per coin. I think that's what people think is going to be $1 million a gallon, and that's the fact.'' Absolutely not true. ”
Realignment of stored value assets
He likened the introduction of Bitcoin to market disruptors like Uber and Airbnb.
“Airbnb is a short distance away from hotels. Just as Uber continues to increase the use of taxis, hotels are not going away. Bitcoin is not stealing dollars; , and other store-of-value assets such as gold, stocks, bonds, and real estate.”
He pulled out three graphs comparing Bitcoin to store-of-value assets as they grow in price, size, and market capitalization.
“Bitcoin could grow to $21 trillion by 2030, which means $1 million per Bitcoin, but that doesn’t mean all other assets go away. It’s on par with gold. A little bit from bonds, a little bit from money, a little bit from stocks.”
“Fast forward to 2050 and Bitcoin will become the second largest asset class, but that doesn’t mean there will be no other asset classes…By 2050, all store-of-value assets will be priced in Bitcoin, not in the US.” ” Then one Bitcoin would be worth one Bitcoin, not $100,000 or $1 million. ”
he brings up gresham's law In his advocacy for the survival of the dollar.
“According to Gresham's Law, bad money drives out good money. For example, in the United States until 1965, quarters and dimes were made of pure silver. After '65, they started making them from junk metal. Pre-'65 quarters and dimes are no longer in circulation, if at all. You won't use it because it's worth as much as a dollar. So you'll save it. Bad money drove out good money, and pre-65 money was driven out. So I always use fiat money. , I want to store my Bitcoins.”
“Good times” have arrived for Bitcoin
The president-elect's son, Eric Trump, delivered the keynote address at the event, declaring:i love bitcoin'' praised Bitcoiner's vision and said, “America must lead in the digital revolution,'' describing the now-infamous moment when he called his father at 6 a.m. on the day Bitcoin hit $100,000. This led to the “you” statement. Welcome,” posted on Truth Social. So does Mark foresee a golden age for Bitcoin in the US? Will there be a resurgence of innovation and a return of talent that was exported to other jurisdictions under the previous administration?
“The new administration will definitely be bullish on the industry,” he says. “It wasn't actually Bitcoin that was on the ballot. What was really on the ballot was freedom. Freedom to choose how you store your money and how you transact your money.”
He believes President Trump will create a “friendlier” environment for businesses, but he doesn't expect a large number of companies to return. “Once you're gone, it's like you're gone. Why do you come back?” he asks. “But perhaps we will slow down the number of companies leaving, and more will remain.”
What about the national strategic Bitcoin stockpiles that are fueling global Bitcoin game theory? He believes the chances are as high as 80%.
“So RFK said he would do it, but he is now in the Trump administration. Trump said he would do it. We have a red Republican House, Senate, Office of the President, and a bill that Sen. Lummis introduced. It's already been submitted. It just needs to be approved. It will probably fail and be resubmitted, but I don't think it will be completed in the next 24 months.”
Another prediction Mark has for the next 24 months is that U.S. banking institutions will begin storing Bitcoin, selling Bitcoin, and offering Bitcoin products.
“Last year, banks tried to overturn an SEC rule called SAV21 that prevented them from storing Bitcoin. That got to President Biden, and he vetoed it. So we think they want to do that. I know they're already trying to overturn it and Biden has vetoed it. It will be resubmitted and approved as soon as President Trump takes office…Good timing,” he said. Make it shine. “I'm optimistic. I'm very optimistic.”
To learn more about Mark's vision for Bitcoin and its stages of global adoption, follow him. with Xplease catch him keynote From Bitcoin MENA or watch his educational videos. YouTube channel.
mentioned in this article
