MOIP Interview with Mark Moss - The Money Printer Problem

MOIP Interview Preview - The money printer problem The episode of MOIP Interview started with Alex Mashinsky interviewing Mark Moss. He questioned him about the importance of Crypto and why we should be fighting for it. The mark provided with an example of a giant oak tree that has thousands of leaves which represent problems in society and at the bottom of that tree, on its root, there’s a money printer.  

Mark Moss's Introduction and Journey into Crypto
Alex asked Mark Moss to tell the audience more about himself while he also gave a brief about him that Alex was an entrepreneur engaged in real estate and then showed great interest in Bitcoin. Mark started by saying that his grandfather and father were soldiers stating that he was born in a military family. Mark said that he thought of taking part in a war but somehow, he started working after high school during his 18s. He worked with his friend’s grandfather which include buying, fixing, and selling properties. He sold the first property for 30 grand and since that, he has been able to fix more than 150 houses.

Mark Moss further continued that during his 20s, he and his friend quit the job and start trading in internet stocks, and in 2001 he started an e-commerce website to purchase and sell products. He shared his struggle about the 2008 crash as well and at that point, he realized that the traditional financial system is not up to the mark due to which he showed great interest in Bitcoin. 

Question - What do you think is the best way to protect yourself today?
After a brief introduction about Mark Moss, Alex asked him about his opinion that where does he think where we are today, how we got there, and the best way to protect ourselves in terms of economics. Mark started by mentioning that if we take a look at the history, then we can see that same thing keeps repeating over and over again. He provided a short detail about the monetary system from the invention of the central bank to federal reserve and whatnot. Both also discussed that those working in the computer or banking field are making better progress as compared to the other side of the economy. Additionally, Alex shared his story about the US rescuing his family and jews from Ukraine and how he is paying the country back with his efforts. 

MOIP Question - From Communism, Socialism, to Capitalism, what is the fourth system?
Alex asked a new question that after communism, socialism, and capitalism, what’s the fourth system? What do we need to do to make it more equal like it was in the 60s or 70s? Mark Moss said that these terms have lost their meaning and he believes that there is only 2 system. The first one is free, open and competitive, while the second one is captured, controlled, and centrally planned that are fascism, communism, and other systems that are the actually same thing with different names. He said that we should have a free and open environment. The host and guest further discussed that it has becoome difficult for small startups to compete against large enterprises as they have great support from the government.

MOIP Question - Why Crypto, how can it solve the problem, and why do we need to fight for it?
The CEO of Celsius asked the most important question about crypto and Mark answered with an example of an oak tree that has been mentioned at the start of the episode. He said that money printing is the main source of power due to which the federal reserve controls everything. Once it’s taken from them, they will be powerless. It can be done through Bitcoin as it can’t be controlled by anyone. 

MOIP Question - What is your thoughts on MMT (Modern Monetary Theory)?
Alex questioned Mark about MMT and how it can further worsen the economy. Mark Moss provided a great example that government thinks of it like bathtub where the money supply will fill it up and if the inflation makes it overflow, they will drain some of them in the form of tax and other means. He also mentioned that people tend to judge wealth through money which is a wrong concept as wealth is judged through goods and services. Overall, he said that printing more money is like a temporary solution but not the permanent one.  

Mark Moss - How have our priorities changed?
When Mark was asked about priorities, he said that it has changed because of the incentive structure. He quoted that “show me the incentive I will predict the outcome” and further mentioned that fiat and inflation are built on theft as we don’t know how much money is there. 

Alex's comments on Mark's video about Afghanistan being the beginning of the end of an empire
The CEO of Celsius appreciated Mark’s video that he made on Afghanistan that every great empire that has stopped on its land has faced downhill.

MOIP Question - Is this going to mark the beginning of the end?
Mark Moss believes that it was the beginning of the end as Afghanistan is considered as the graveyard of the emperors because a lot of renowned historical figures have collapsed by approaching Afghanistan. He was pessimistic about the future of the US as it doesn’t have enough means to fight against China.

Mark Moss - How the fiat money system changes the incentive structure
Mark said that fiat money changes the incentive structure. According to an example provided by Mark, suppose that the US government print as much money they want and goes on to war with Afghanistan. However, that is not possible to use fiat as a weapon because if the nation fails, then it will cost too much as the nation will go bankrupt which changes the incentive structure.  

MOIP Question - How do you protect your wealth in this environment?
Alex asked Mark how he would prefer to protect his wealth in such an environment and he replied that the best way is to hold your assets. Mark expressed that he feels regret for selling his properties, internet stocks, Bitcoin, and Ethereum.

MOIP Question - Where do prices go?
Mark Moss explained the answer with the simplest concept of demand and supply. He mentioned that the supply cap of Bitcoin is limited and the demands keep on increasing which simply means that we can see a boost in the price. 

MOIP Question - How do we divide all the value creation between different blockchains?
Mark Moss started that he has very well researched cryptocurrencies and he believes that if the money printers and censorship should be taken out. He further added that he wants a limited supply of money and censorship resistance including immutable law. So, he concluded that if we find the best projects, then it can give a great return.

Alex's comments on rebalancing your portfolio.
Alex continued the conversation by advising that rebalancing is important as when the price is stable, the majority won’t like to sell it but that’s the part of the hodling to sell high and buy low. Mark also emphasized booking the profit timely and putting it on another project for much better gain.

MOIP Question - Do you see us having a bright future again or is this time different?
Mark was optimistic about the future and said that it will be bright as the Internet and Bitcoin will be becoming a renaissance 2.0 but it will take a lot of effort to get to the bright side.