Inflation, Gold, and TEXITcoin’s Case for Digital Honest Money

I'm trying to see where that QR code links to. If it was me that made that video, I would definitely have that QR code as a website address to something really, really terrible and shocking. We're like, please don't scan it. You don't want to go down that path. And I never seem to have the ability to test it. all right what's up everyone i'm tired it's early bobby gray here uh whatever today is friday september tenth the eve of september eleventh um i'm joining you still from indonesia where we've had a couple days of intense coin production happening uh we'll talk more about that maybe in a moment or two but uh but good morning and welcome uh thanks for being here for another thursday night edition of the Texas Coin Update or the Honest Money Live. I don't know what we're calling these things these days. So many programs, so many names. We do, just a quick reminder, Tuesday's call, while it is now streamed far and wide, is for mining updates. It's for miners. It's to keep our community informed of what's happening in the mine and the project itself. Thursday night is supposed to be what you refer friends and co-workers and relatives to, so they get to meet me and look me in the eye and figure out what this project is and whether or not I'm serious about it being successful, which of course I am. So Thursday is a more general, broad introduction to Texacoin, cryptocurrency, and the future of honest money. So we've got a lot of calls, but we're starting sometime maybe in the next week or so. Correct me if I'm wrong, Matty. We're starting the actual official Honest Money Live. And the Honest Money Live. No. Yeah. Sooner or later. Sorry, I thought you were going to I thought you were going to correct me there. We don't have the exact date. scheduled start date on the calendar yet. But I'll show you the window that I've got for Chrome tab for honest money live. Let's show you this one. So honest money live is where we're streaming these calls. First of all, one of the many places, we stream them here and we stream them a couple other places as well. But honest money live is a conversation that we want to have with the world about um obviously honest money our take on it cryptocurrency and you can see who some of the guests are that uh that we're looking to um invite to join us these are not confirmed guests these are just people that we think would be able to really contribute to this conversation and we want to talk about them and their projects what they're doing we want to talk about um you know how those things all ultimately connect back to honest money and that's you know my take on things that's that's what i'm doing i got into these you know free market austrian economic libertarian you know big l or small l ideas back in in i watched a movie called america freedom to fascism and i was going down the rabbit hole trying to figure out what was wrong in the world why my little family and i weren't experiencing quite this you know american dream that that we hoped for and um you know i found money i found the federal reserve and i found that you know there's only one group out there that i thought was really doing something about it and That became my life's work, my adult life's work. When I was young, I did tech stuff. And in the middle parts, as I was trying to find out who I was and what I was doing here on planet Earth, I got into public speaking and sales. And I really enjoyed that time in my life. But then as I got older, I said, I got to do something that matters. i don't know why we're here man did you do you have any idea like why we're here planet earth what this whole experience means you know like you you must have studied this stuff you've got some deep philosophical explanation for the why question yeah i mean it's more than just the number My interpretation is we're here to make the world a better place in practical ways, which can involve a lot of different ways of contributing to society and having a strong moral compass. Many ways. There are many ways out there to do that. And some of the people that we just saw on that list a moment ago are doing exactly that. They're educating. They're being an activist. They're waving signs at buildings. They're sharing a message on a platform. They're doing their part. We all have to do our part to make the world a better place. It's so funny because I go to Starbucks once. And every time it's so awkward because they hand me the coffee and I say, no lid, no lid, no lid. Here's a straw. Here's a coffee. Here's a lid. Here's a plastic bag. I'm like, stop it. Stop it. We've got to do our part to save the whales and the dolphins. This is just too much plastic. We don't need it. all this plastic and of course you know it's it's have to be funny but it's you know it's also serious if i can reduce my personal consumption is that going to make a monumental is that going to have a monumental impact on you know global warming or climate change or whatever it is called these days probably not But we all have the ability to contribute to the idea of, like you just said, leaving the world a better place than we found it. What can we do in small ways or large to make the world better? And it's interesting that I talk about the American dream a moment ago from, what is it, eighteen years ago now. because on my on my notes i've only got like a couple things written down but one of them is nightmare and we might be in the process of waking up from a nightmare and that's kind of what i want to talk a little bit about tonight um do you ever have a dream that was so real that like good good or bad that it affected you in in some sort of way the next morning you woke up you're like oh man i'll never do that again well wait a minute that wasn't real i know but i should still change something because i don't ever want that to be real that was terrible um and so i can't tell you what the news is and it might be not one but two good news is um that i woke up to today i'm not allowed to share but we're going to stay optimistic about it and we're not going to jinx it by talking too much. But that's what we're doing right now. Texacoin is our physical manifestation of the idea of waking up from a nightmare. And that nightmare is dishonest money. And so I learned about this stuff back in important and the right thing to do to help you know stop this you know monstrosity of a disaster that is dishonest money so let's pause there real quick because maybe people are joining us and they don't know what we're talking about with this vague concept of dishonest money um money supposed to have three properties there are three things that make money good or honest Money is supposed to be a good medium of exchange. It's supposed to be a good unit of account, and it's supposed to be a good store of value. And so let's break each one of those down real quick and talk about good money, honest money. Honest money is a good medium of exchange. It means that we can pass it from one person to the next person at minimal cost minimal fee you know we don't have to go through a bank or an intermediary to do that um it's portable we can take it to the marketplace you know things like barrels of oil are incredibly valuable um but they're not really great medium exchanges you know you open up this barrel of oil and is it is it crude or is it heavy like is it sweet know you've got all these different possibilities in that barrel that are really tough to communicate when you're there in the marketplace and maddie by all means jump in anytime if i'm going down a weird path or you've got something to uh to say to correct me or improve upon whatever it is i'm babbling about on this beautiful friday morning over here in indonesia all good so far So we need good money. We need honest money to be a good medium of exchange, which means we can take it to the market. It's something that is portable. It's durable. You don't want to have like a cow as a medium of exchange because it's not real divisible. So we've got lots of things that have worked as money from time to time over the last couple thousand years. Um, but we've got, um, you know, we've got gold and silver that have worked, um, as a good medium exchange. Our friend Jason comments, oil is heavy and bulky. That's right. You don't want to like load up the knapsack with barrels of oil as you head off to the farmer's market to do your trading. Um, so anything that's going to be good money, honest money is going to be a good medium of exchange. The U S dollar is a pretty good medium of exchange. know it's funny in indonesia their largest bill that i've come across is a hundred thousand rubies it's like wow that's a that's a huge bill except if you get out your calculator and you say well a hundred thousand idr is worth how much usd oh that's that's five dollars and sixty eight cents and so it is really difficult taking indonesian rupiah to the marketplace when you're going to buy something big and pay for it in cash i mean you're talking about a wheelbarrow full of paper notes um and there's an interesting thought about you know you can tell a country's level of corruption by the size and inverse proportion to the size of its banknotes Like Singapore used to have like thousand dollar bills recently. They just got rid of them. It's like, damn, Singapore is a really, you know, good kind of society, very low corruption. And you can give your friend a thousand dollar bill. Well, no, no, no. It's going away. It's going away. The war on paper money continues. Anyway, good money is going to be a good medium exchange. Honest money is a good medium exchange. Honest money is a good unit of account. like we just talked about a moment ago, what does unit of a cow mean? It means that we can like count it up and weigh it. It means that one is going to be equal, you know, or the same as the other. If we've got those two barrels of oil, it's hard to tell the quality difference. It's difficult to, you know, compare two cows to one another. Is your cow a male or a female? Is it large or small? Is it got horns or no horns? Is it colorful or is it not? Like, Is there a standard that we can use to easily compare these two units to each other and figure out that they're both worth about the same amount? You know, gold and silver coins, for example, you look at them and you can hear that they're legitimate and you can bite into it and you can give yourself a reasonably high level of confidence that they're real. You know, we talk a little bit about how digital currency actually takes that to a whole new level. But if you stack up, you know, twenty silver coins here and twenty silver coins there, that gives us a pretty good unit of account. You can weigh them. You can see exactly how much you've got right there on the scale. And so that's why gold and silver have stood up as good money, honest money for thousands of years. But the last thing about money is that. Good money, honest money is supposed to be a good store of value. Now, we think about that today in different terms than I thought about it when I got into gold and silver back in back then, I thought the good store of value means that it holds its value over very long periods of time, thousands of years if necessary. And that's kind of an unfair thing. because first of all who's around that long to like decide if it made it to the the goal line or it went the distance it's like well if you look back historically yeah gold and silver have held their value for thousands of years well i wasn't around two thousand years ago trading an ounce of gold for like a toga and a belt and a pair of sandals you know it like i don't know what the market would be called and like down by the the river and Rome like I I don't know so I just read and I assume that they're being honest and we go with that once upon a time beanie babies were valuable you know that that was a thing there was tulip mania that was a thing so so you've got value um in lots of different shapes and sizes but the Idea is that value is supposed to exist over time. It's like why we save in the first place. If we work hard today and they give us a payment in some sort of money that's going to expire tomorrow, well, it makes it impossible to save. know and we know that austrian economics teaches us that you know savings and thrift is the cornerstone of a good healthy economy you know some people on the other camp think that spending and like stimulus is what drives a good economy and of course it does in in the short term but in the long term a healthy economy is driven i believe and other austrian economic theorists will believe that it's driven by savings and thrift but if you're getting paid in money that doesn't hold it to value, it makes it impossible to have an economic foundation that's built on savings because you know that that money is going to be worth less tomorrow. Look at what happened before World War II in the Weimar Republic. Men at the factory would get their paycheck and they would sprint to the fence and hand it in like a relay race handoff baton to their lady on the other side of the fence. So that she could sprint to the bank, cash that check and go and buy anything whatsoever because they knew that by the next day, hyperinflation was going to hurt that money so bad that it would be practically worthless. And then it would be more valuable to burn those notes in the stove for energy than it would be to spend them on the firewood that they would need to cook their meals. That's how bad it is sometimes when hyperinflation kicks in. so that's not good money that's really really bad money so good money is a good medium of exchange it's a good unit of account and it's a good store of value and so when we think about the us dollar we say well yeah it's pretty good medium of exchange and we've got like electronic versions of it uh it's pretty good unit of account i mean the us dollar has got all these anti-counterfeit You know, mechanisms build into it and you can like, you know, see that it's a legitimate one and somebody didn't make it on the copier. And, you know, you can take your dollar down to the bank and divide it into a small change. Like it works pretty well, but the question of whether or not it's a good store of value persists. And that's a tough question because if you look at that on like a really small scale, it's fine. I got paid today. I went to the store tomorrow. Everything there is priced in dollars. I bought what I needed and it was fine. But when you look at it on a larger timeline, you go, well, geez, this is weird. Everything today is more expensive than it was last year. I think in the US, what is it that they do? Is it like a Labor Day thing or a July fourth thing? What does it cost for July fourth this year? We need some hot dogs and buns and some ketchup and mustard and like, have this like july fourth picnic index that shows up on the news and it's like nope nothing to see here you can buy a pack of the most terrible hot dogs you've never wanted to eat at walmart right now for exactly the same price as it was last year and it's like well it feels it feels worse than that is that really true and it's like Well, it might be true, but we're watching the quality go down lower and lower and lower. So they sneak that inflation stuff in there. And so good money, it's a good medium of exchange. It's a good unit of account. It's a good store of value. That's what good money is. And so when we think about the dollar, if we don't think about it on a kind of an ongoing basis, we go, yeah, dollar's fine. Qualifies each one of those things. Nothing to see here. And then we go, well, wait a minute. Things seem to have gotten more expensive. And the money still works the same. They haven't turned me away at the cash register and been like, US dollars, not here, my friend. They still accept it. So it still works. But things seem to have gotten more expensive. And they go, well, that's just a part of life. Inflation, it's called inflation. And it's just, it's like death and taxes. okay so so we come to accept these things you know either generationally or annually or you know from a day-to-day basis the price of stuff goes up you get an email from your supplier dear sir we are increasing our prices because the price of our raw materials has increased or you get you know a notice from netflix hey just so you know it used to be nineteen ninety five per month now it's twenty four ninety nine per month and it's like geez these guys are just you know raking us over the coals and it's like well their costs probably go up too their internet costs go up uh you know their costs for actors and professionals that come together to make you know films and uh series go up i mean everyone's costs are rising and it's like this snowball effect where it just gets worse and worse and worse And as I sit here thinking about the good old days and waking up from this nightmare, I asked myself this question, does anything ever get better? And you're welcome to jump in and answer that question. I'd love to have a good example from you or the people commenting about a hundred or thousands of answers to the question of does anything ever get better? I have an example. This helps to create hope that the future can be better, but I'll preface it by saying that the future can be way, way, way better if we have honest money. And inflation is just a trick that the government does, making you think that the price of everything is going up when really the value of the dollar or unit of account is going down, down, down. And so if we look at something, you know, to be hopeful, uh, and to not give up hope, uh, infant mortality, uh, when Jesus was alive, you know, it was like, they, they didn't even name babies all the time until they reached two years old because most babies died. Nowadays, uh, infant mortality is much lower, you know, maybe one in ten thousand instead of five thousand out of ten thousand. Yeah. Yeah, that's true. And life expectancy in general seems to be getting longer, right? Average lifetime back then was like, I don't know, well, maybe it was like nine hundred. Maybe they lived in nine hundred Bible times. I don't remember. But at least a couple hundred years ago, people didn't really make it past like forty or fifty or whatever on average. I remember that, you know, there was a conversation about how old you had to be in order to be president. Was it thirty five in the US or is it forty five? I think the age to be president is thirty five. I looked it up today. That's random. It's can run in twenty sixty four. I hope there's a republic for him to know. Twenty thirty six. I mean, yeah, yeah. Twenty thirty six. Wait, no, no. All right. Your new baby is not going to be not going to be thirty five in ten years. Yeah. Twenty sixty four. That's it. The reason they did that was so that even if we got the most terrible person on planet Earth as president, they were only going to be around for five to ten years. Like. know make our lives a miserable hell so like you know life expectancy is increasing um and jason in the comments writes tvs computers yeah electronics uh that's a weird thing though man it's like why do the tvs keep getting more and more awesome and affordable do they want us to just be in front of this box all day long like real easy for us to stay home and just watch tv And so, yeah, look, you're absolutely right. I am here spending my time with you because I am hopeful for the future. And I am hopeful for the future because of what you said at the preface, which is our contribution to honest money. And there's a there's a personal benefit there's a personal opportunity and then there's a societal or civilization opportunity uh as well you know it's one of those good old-fashioned win-wins it's like if if i'm right and i can protect myself from this inflation tax that they don't want us to know about and they do everything they can to hide then i can help myself and improve the quality of my life i mean think about if you started banking in in silver coins or in gold coins or god forbid you started in bitcoins back in and a lot of us woke up we'll use you know quotes when we say woke up at about the same time because we had this financial crisis in the us we went through this mortgage thing people are losing their homes And we're looking at it and saying, what's going on? Who did this? Why did this happen? And whether you saw the movie and got an understanding or you just started peeling back the layers of the onion and started reading between the lines on the news, you figured out that something was wrong back then. And if you had started back then with stockpiling your savings in silver coins at eight dollars or gold coins at four hundred fifty or six hundred fifty dollars, whatever it was back then in two thousand eight. I don't remember gold. You'd be pretty happy with with those decisions today. The good news is that every day is another chance to do that because this inflation thing always goes in that one direction you know it's not going to get better we're watching you know more and more fake money coming into circulation with quantitative easing with bailouts with bond purchases you know it's only getting worse they have one um kind of tool that they use to regulate and deal with the economy and that's fake money printing uh interest rates as well of course But that only goes in one direction. The alternative is they contract the money supply and we all go broke. We go where the money go. This is what happened to get us the Federal Reserve in the first place, going all the way back to a hundred years before the two thousand eight financial crisis, looking at the farm lending crisis of nineteen oh eight. And so that's kind of a one way street with inflation and And so you're absolutely right where we can get excited about the future. We can be hopeful when we start to open up our eyes and our minds and understand these concepts that they never taught us in school and realize what a terrible, painful thing it is that inflation is doing to our individual lives. And so that's why we're here. We're here to do something about it. Let me ask you a question that people might be wondering at home. So let's say, all right, yeah, you and the world have convinced me that the dollar, it's a good unit of account, it's a good medium of exchange, but it's a poor store of value because the price of everything I need goes up ten percent a year, compounding every year. and uh okay so you you've kind of talked to me out of the dollar as a as a store of value uh so two questions that would arise are one uh why can't gold and silver you know be something to solve this alone why do we need crypto and then why why do we need something more than bitcoin yeah Well, great questions. And I feel like you are doing an excellent job of getting us back on track for our conversation. Well, that's that's what I concluded in two thousand. I'm like, man, we need gold and silver. This stuff has worked as money for thousands of years. What if we just go back to like a gold standard? What if we what if we had a silver standard that that we could use in the marketplace? Who's who's doing that? Found the Liberty dollar. know solve some problems with it and made my own version called the american open currency standard and so what i saw as being the problem and the solution years ago was exactly right you know we need honest money and the most honest money that we had back then was gold and silver and so eddie and my brother and i got started with getting people around Dallas, you always start in your own backyard, to barter once again with gold and silver coins. And it worked. It worked. We had a little barter community going. We had a couple dozen merchants at first that were stockpiling these silver coins in their cash register and then in their safe and using them and trading with these coins for goods and services. And you know, it was, it was a lot of fun because, you know, it's like, you're going out and dressing up to the Renaissance festival where you're like, hello, sir, can I borrow these silver coins for some of your, you know, meat and, you know, where's today? Like, uh, it, it was enjoyable and it was very personal. It was very slow. You know, we came across something back in the day called like the slow food movement. And it's like, okay, well, we've got fast food. We're like, You get in your car, you drive around to the window. They give you your food. Ninety seconds from like placing the order to like stuffing a handful of fries in your mouth. What an amazing world we live in today. Well, now all of a sudden there's a slow food movement. Hold on. Slow it down. Farm to table. Like, where did this chicken come from that's on my plate right now? Tell me about the farmer. Did it go more than thirty miles to get here? You know, like we're regressing. But we're watching the quality of that meal or the relationship that's established between the consumer of the food and the producer of the food becoming tighter. And again, you can argue all day long, which one's better? Would you rather be the richest man in the world today or would you rather be... Or sorry, richest man in the world a hundred years ago or alive today? Would you like to have... an iphone today or like running water and a working toilet a hundred years ago like you can debate it all day long point is that we set out to do something about the problem which was inflation and dishonest money and it was good it worked it was slow but it was successful and it you know formed the basis in my mind of really what what the world needed in order to overcome this slow moving trend towards you know inflation and um you know all these problems that we've got in society that are all linked back to dishonest money so it worked it was slow but it worked and so i think the answer to your question is you know gold and silver work if you're riding around to the market on a horse and buttons I draw that comparison quite often where I say, okay, I finally got off the horse and buggy. Yes, sure. If you live in a community that's off the grid, by all means, you're hanging out in Gold's Gulch and you've got little silver or gold discs that you're trading for car rentals and for piano lessons, it works. It works great. But that's not the world we live in today. Most people live in this fast-paced, high-tech digital world where you're dealing with people on one side of the planet to the other. We've got developers that contribute to this project. Some of them are in Ukraine. Some of them are in India. Some of them are in who knows where they are, like some dark basement somewhere that is contributing some little piece of code that we need. We pay them, but we can't pay them in gold and silver. Like, that doesn't work. We can't ship them a box full of coins. It just doesn't work. You know, when we talk about money, medium of exchange, unit of account, store of value. Sure, gold and silver are a great store of value, but for medium of exchange in a digital world, they just don't work. And that's frustrating. It's a little sad. But, you know, it's a sign of the times. And we realize that if we like this idea of honest money, we've got to use the version of it that's going to be compatible and also likely to succeed in today's world and i tell people you know my daughter is never going to go out and buy a safe and fill it up with gold and silver coins like maybe gold and silver are going the way of the fax machine still cool nostalgically you know kind of interesting but young people today aren't loading up on gold and silver coins and so then it's like okay well know obviously if you're coming at this question from a gold and silver are good money and have worked as money for thousands of years perspective initially you're going to resist the idea of digital currency. There are two opposite ends of this value spectrum. I can hold my gold and silver in my hand. I can lock it in my safe. I can test it. I can look back at a couple thousand years of you know value and see what it's been worth over time and it's you know it's got its ups and downs as well um but i see that over the last couple thousand years it has held its value and so you know that's a real um tangible physical way of looking at value and then on the other side of that spectrum you've got digital money which has no physical form you know you're not a computer programmer you don't know uh what goes into the zeros and ones of it all um and it's brand new you know how is it that new money could be valuable you were telling us a story the other night i think on a call about how you got in when we had the flippening Is that what we were calling when an ounce of gold or when one Bitcoin became more valuable than an ounce of gold? Yeah, that's what did it for me. That's when I started taking Bitcoin seriously. I had followed it when it was a thousand dollars, when it was five hundred dollars, but I wasn't sold on it yet. And luckily I had found out about gold. when I did and I valued that. And so once Bitcoin started pumping in May and June of twenty seventeen, once it flipped to the price of gold, I was, OK, wow. And there must have been a lot of other people who felt the same way because Bitcoin went from about twenty to about twenty five hundred dollars all the way up to twenty thousand dollars in about six months. But still, we had seen times in Bitcoin where the price jumped and then crashed nine percent. You know, that has happened a couple of times. And so the initial knee jerk reaction is to think about, you know, Bitcoin like tulip mania, like this is a fad. You know, we're getting a little carried away and it's going to go back to being worthless once everyone discovers that there's nothing tangible backing it up. And so the gold and silver guys, like many other people out there, You don't seem to think about value in terms of tangibility. This cup is valuable. I can hold it. This phone is valuable. I can hold it in my hand. And so value and tangibility aren't the same thing. Love is valuable. How do we measure that? uh relationships are valuable um ideas are valuable so so we can at least start to open our mind up to consider the fact that there are things that are valuable that you can't actually wrap your arms around. And so Bitcoin shows up, like you said, people pay attention to it because all of a sudden one Bitcoin is worth more than an ounce of gold. We don't have thousands of years of Bitcoin price charts to look at and be like, well, this is interesting. I never paid attention to it. But yeah, over the last two thousand years, Bitcoin and gold have both continued to climb. I'm guessing that someday People will have that type of conversation, but it's too new. So we resist. We push back. We go, well, it's intangible. I can't hold it. I don't understand it. It's brand new. And so I'm likely to reject this concept, as I did for more than a dozen years, maybe about a dozen years. Learned about Bitcoin, brought the original Bitcoin coin to market in And then it was more than, you know, it was a dozen years later in twenty twenty four that I introduced Texacoin. And, you know, that that journey in my mind was was kind of going from this world of physical gold and silver, honest money to this digital, fast paced, high tech world of cryptocurrency and know you start with resisting it and then you kind of like become curious about it and then twenty seventeen happens and you're like jeez this might not be going away okay we're not you know a thousand years in at this point but one bitcoin has passed the price of gold and we start looking at the similarities now between gold and silver and crypto and not as much of the differences but the similarities okay how are these things similar Well, Bitcoin crypto is a really good medium of exchange. I can send it from here to the other side of the world in seconds. I can do it without going through a bank or an intermediary. I can send any amount, large or small. I don't have to worry one bit about whether or not it's going to get there. I don't have to worry about it being fake when it shows up. It's kind of interesting. We've got not just similarities, but we also have some competitive advantages. And so maybe you stop resisting this new high tech digital money and you look at it as I did in twenty twenty three and I go, look, the whole world is going digital. Kids aren't buying gold and silver coins. We. Have to. Strive. to make sure that honest money has a seat at the table in this exciting future that we're building? Who's going to do that? What if we took this financial technology that is Bitcoin, cryptocurrency, blockchain, and what if we paired it up with somebody who cared about honest money and understood the fundamentals of properties of money and the fundamental idea of equal exchange of value. What would happen if we put all those things together? Well, the obvious jumping to the finish line answer to that question is Texitcoin. Texitcoin is what happens when you take financial technology that's good, like cryptocurrency, and you pair it up with a concept that's as important as honest money. And so that's what happened. And it took a long time for me to get there more than a dozen years or a better part of a dozen years. And I encourage you, if you're tuned into this call and you're learning about crypto or Texas one for the first time to not like be ready to jump all in, but be ready to like start to take off the blinders, start to think about the possibility that there might be something out there that's as good as gold or better. And it's a hard pill to swallow. It's a difficult thing that requires a bit of a leap of faith. Just accepting that concept. I'm not even talking about buying into crypto A or crypto B or this meme coin or that NFT. I'm talking about just buying starting with the idea that something that's intangible, something that has money that's shaken its physical form might be as valuable or more valuable than gold or silver. I mean, that is a big ask. And so the ask is not necessarily that, it's to consider the future and whether or not you think the world is more likely to continue progressing towards digital or is going to go back to something like gold and silver like what's more likely to happen um you know obviously you've got to factor in things like the grid failing you know if like the grid goes down the solar flare hits and uh you know plugging in your phone to the wall to charge it is no more how am i going to use my digital money if the grid goes down and that's when we say well you know that that's actually that's actually a pretty good objection that's a real objection And if you're that guy that's out there stockpiling the emergency supplies and the generator and the fuel and all that stuff, then by all means, be careful and use caution as you embrace whatever the digital future may be. But if the world continues to spin the way that it has for the last couple thousand years and the lights stay on and we continue to embrace the future, then I think it's a pretty safe bet to say that it's becoming more and more digital. And if we're serious about money being honest, we've got to find a way to make honest money compatible with today's high-tech, fast-paced digital world. And that, of course, is Texacoin. And we talk about honest money, these abstract concepts, and I want to go back real quick to an earlier version of our website and i would say that it's probably the earliest version of our website this is what it looked like when we started this was all we had it was a pretty um basic web two or even web one version of our site but At the very top, the very top, Texacoin is for Texas by Texans. It's a fast and inexpensive mineable blockchain-based cryptocurrency designed for generations of honest trade. We had it right there from the very start that this project was about honest money, honest trade. And so I don't think in any way whatsoever as we've grown and involved and improved that the core message has changed. It's always been about honest money. It's always been about taking the things that I'm passionate about, the skills that I developed back in two thousand and eight when I was getting people to barter with these gold and silver coins, the slow old fashioned way, taking these concepts and bringing them into this fintech blockchain cryptocurrency world where they've got a solution that might be better money than gold and silver and i know that jason's humbles of the world out there that i learned everything that i know and love about gold and silver from you know might be sitting there still to this day saying but but gold and silver are still they're still good they're so so good Um, he of course has come a long way in this way of thinking as well. Took him a while too. Um, but it might be better money than we've had before. And it's fast and it gives us the ability to do this work that we want to do this honest trade concept, bigger, better, and faster than it was ever possible to do on the gold and silver horse and buggy. And so let's take a quick look at the new website. And just talk real quick about the key components of this project. So this is what we've got now, obviously. Can I jump in and make a quick point here? So like one of the things that attracts me to crypto over gold and silver is gold doesn't go down. Ninety percent. um and so with crypto i experienced where bitcoin you know went up eight x or twelve x or fifteen x over and over and over again cycle after cycle it's it goes up more and it comes down more and so there's more to be made if um if you get the speculation part right So that's pretty cool. And one of the reasons why I like Texacoin now better than Bitcoin is because when it comes to Bitcoin, there's nobody responsible for making it better. And there's this huge movement to not make it better. And so with Texacoin, I see this incredible use of AI I see this incredible innovation. And so, you know, I've played around, you know, I mean, I've even played around with Heather Gold and Silver shares and stuff. And so I really see how money can be better because... uh i've been around in crypto so long and i i can appreciate how special texacoin is there's a lot of people who who uh are involved with texacoin and they don't know all the bad parts you know they don't know how it compares to the rest of crypto you know this week Hunter Biden, you know, he launched a laptop coin and, you know, it was briefly the same value as Ethereum in market cap and then went down ninety nine percent and then went down another ninety nine percent and another ninety nine percent on the same day. and uh and and so uh thankfully texted corners are not paying attention to meme coins on the most part and and so it's really special that we have this opportunity and that we have this this physical this ability to hold physically something of digital value yeah and and those are all really great points um know crypto is a lot of fun um one of the problems with gold and silver they're kind of boring you buy your gold bar oh it's pretty this one's shiny this one's got some color on it this one's rare okay you put it in the safe you lock it up maybe once a year twice a year you pull it out put it on the pool table and just admire it for a few minutes and then you put it back Oh, no, no, no. Crypto is the opposite. Crypto, it could be anything, any day of the week. You've got your, you know, you're kind of boring Bitcoin. But even this week, there was a hack in some part of the Bitcoin. What was that? The liquid Bitcoin, something hack, four hundred million dollars or something like that, like there's all kinds of stuff still happening in the crypto space that makes it exciting to pay attention to and new developments and new versions and flavors. It was actually one of the, uh, one of the people who might be Satoshi, Adam back had launched this like side chain thing. Uh, he, he like created his own little corner of Bitcoin and, uh, there was a white hat hacker who realized that there was a bug in his system and so how much uh it was like i think it was like hundreds of millions of dollars of bitcoin was taken and then they said we'll give it back if you fix your bugs basically yeah but they didn't give it all back did they they ended up giving a eighty five percent back and then we'll give a little bit more you know we're gonna take a ten percent fee but we'll give a little bit more if you update your security create a bug bounty And part of the argument here. I'm going to steal four hundred million and I'm only going to keep ten percent. That's what I'm going to do. It's my good deed for the day. I'm going to steal it all. It's a little bit gray hat. It's a little bit in between white and black hat. But the point is that these Bitcoiners, they are so stuck on not updating things that even the parts that aren't part of the Bitcoin network, the Bitcoin network was not hacked, but it was something adjacent to that. With somebody of note, one of the top ten figures in Bitcoin, his protocol got hacked because they're not on their toes. Yeah. Yeah, we're catching up. And we're fresh legs on the ice here. We don't have... fifteen years of horror stories uh and you know getting beaten around by the crypto industry uh bad stuff to like you know dissuade us from the mission that we're on so you know i i think that our timing was really great we we waited long enough for the tools to be available that we could do a great job and we could pick up where that community left off they were doing it ten fifteen years ago before we were believers you know they were doing it when it was hard and here we are now with all these tools and all this knowledge and all this experience that we have either from our own work or that we've learned from their mistakes and we get to like skip the bad parts and Um, finish what they started. And I think that that's incredibly complimentary to that community. Um, but you mentioned something a moment ago that I want to point out as well. Um, on the new text coin website, we do a pretty good job of breaking down the foundational components that make us different from. almost everything out there in the crypto space if not everything else uh and with the last couple minutes of our call tonight i'd like to run through these things real quick because you know people will ask you from time to time like what's the deal what makes texacoin better um do we need another crypto coin like don't we have litecoin um or something else that's already here we don't have to reinvent the wheel um so we've got a couple things first of all proof of work mining okay this is a really big one and i think it might even be ah the most important one we'll get to maybe what the most important one is in a minute uh but it's an important one because it's talking about incentives and in a proof-of-work crypto mind these super computers are you know burning electricity day and night trying to solve these exotic mass computational challenges. And the output of that is new coins, two hundred fifty four new coins every time they find a block, which is about every three minutes. So the network makes like one hundred and twenty thousand coins a day. Well, who gets those coins? The mining community gets those coins, the individuals that have done the most to help us build this community currency. That is an amazing concept. I built it from day one. I knew that it was going to be important from day one. I'm shocked to see how well it's worked, to be honest. But what happens is the people that are out there doing the most to help us bring this community together, get the largest chunks of the mining output. So as the mine grows, we're not making more coins per day. But what's happening is we're competing in our proof of work system against each other. So if you want to join and become a miner, you get your daily output. Well, then that daily output is going to get smaller over time. As the mine gets larger, you get diluted. Well, who's taking it? Well, I can tell you who's not taking it. It's not the banks. It's not foreign nations. It's not financial institutions. It's not people on the other side of the world in mass. It's Texans. It's Americans. It's people that have heard this conversation and said, yeah, I like the idea of honest money, and I want to do what I can for myself and my community, and I want the biggest chunk of the mining output as I can get. And proof of work mining is spectacular. But if you're competing against the banks and the institutions, you're always going to get out mined by them because they make the equipment. They've got the fake money that you use to buy that stuff. And so, yes, it's a proof of work mining project, but it is owned by individuals. We do it in Texas. We prioritize individual profitability. And so we've capped it so that it doesn't have to keep growing forever and ever and ever. And so that's a really important core component of our project that makes it different. Not only is it proof of work, which means we actually have to build this stuff with real physical infrastructure that you can see and touch and put your finger into the oil, but its output is owned by individuals, not by institutions. Like you were saying a moment ago, we're prioritizing the usability of our product in the marketplace. And so Bitcoin has these blocks that are capped that have been debated and debated where they only can get so many transactions into one block. We've got a larger block. They make a block every ten minutes. We make a block every three minutes. So right out of the gate, Our block time is three times faster than Bitcoins and our block size is four times bigger. So that makes us twelve times more likely to be usable in a marketplace than Bitcoin. And because we control this, we've got the ability to upgrade the network if and when it's necessary to continue to have a mine and a tech that works well for actually using it in the marketplace. Going back to number three on the list, we've got value driven by the community. And this is a really important one as well. We talk about Metcalfe's law. Maddie, I learned about this from you. So I give you all the credit for bringing Metcalfe into the conversation. But what we have to remember is that when individuals get driven out of the conversation and when the community no longer benefits from the project, the community stops participating. And that's why we're seeing Bitcoin retail adoption today at a nine year low because the banks are the ones that own it. Who's the biggest holders of crypto today? It's the Bitcoin treasury companies and the exchanges. okay, well, why can't an individual be the biggest holder? Why can't there be somebody that's participating that's got an incentive to keep sharing this message and driving adoption? That's what's gone today. The community is no longer having a seat at that cryptocurrency table. And let's toot my own horn here for a second and say that right up there with proof of work mining that benefits individuals, leadership. is a really important component of this project's success and what will continue to make us successful as we build and grow i'm not going to be here forever guys and so my job as i'm getting this project started is to light the fire in your heart that ron paul lit in mind back in about honest money honest money is a gift that keeps on giving and it's something that can benefit everybody and so maybe somebody's not out there you know joining us as as a miner maybe they go man i want to do that mining thing i don't have the money but they live in mckinney texas and they're starting to see businesses in mckinney texas accepting crypto and they're starting to see those businesses recirculate that cryptocurrency in the community and they're starting to see that three percent fee that normally got skimmed right off the top of every transaction being reinvested in those community purchases and spend spending and relationships and so you go huh my town got a little bit better why is that well honest money made your town a little bit better well really how interesting i didn't even buy a mining package i'm not a texacoin holder it doesn't matter Honest money can still have a positive impact on your life, on your family's life, on your community's life. Just being around good, honest things has a tendency of rubbing off on you as well. And so that's what I've got to do. I've got to ignite that in your heart, in the hundred and seventy nine hearts that are watching this live stream right now. And I've only got a couple of years to do it. You know, I've given a lot of my life to this project and i'm going to continue to do that um we're gonna get to page one sixteen dollars billion dollar value um you know success in the marketplace with getting people to use cryptocurrency like they set out to accomplish all those years ago like we've got work to do before i'm able to sail off into the sunset and uh and enjoy you know the uh bountiful fruits of my own labor. We're not there yet. Hashtag goals, not guarantees. Yes. Well, those are the things that I work for every day. And it's one of those things where I can't get there by myself. I need a community of people that are participating and helping to do these things in order for it to be successful. Especially if I like the idea of being able to float off into the sunset someday. And so that's what we've got that makes us different. Leadership, community participation, proof of work mining, and a coin that's built to follow through on Bitcoin's original promise of digital, decentralized, peer to peer currency, money, for the marketplace to use to help usher in our bright future. And we're out of time for today. Can I throw something in a little curve ball at the end? I believe in honest money and I want there to be an incentive for people to invite people who are new to these Thursday night calls. And so I want to give away a hundred TXC every time we do one of these calls. And I've actually got it loaded up now. So if people type TXC into any of the platforms, type TXC into the chat now, you'll be entered to win. And it's got to happen live. And so I think if we invite people to join every week on Thursdays, then I was thinking even next week, maybe I could throw in a cold storage coin that I'll mail to anywhere in the world and a one hundred trillion dollar bill from Zimbabwe. It's an example of what we're talking about here. We're talking about how fiat has gone wrong and crypto is the future, TXC is the future. What do you think, Bobby? Would that be all right? I think it's a great idea, but we're going to have to come up with a good format for doing it because we can give away more than a hundred TXC. That's for sure. And we've got a lot of people entering right now. So if we've got an easy way to do it, then... Picking the winner now on the screen. It is Tony Hogan's. You're on YouTube. Go ahead over to X and message the text it coin account. DM us over there and I will deliver you that TXC. Is this a function that's built into StreamYard? Like, do we have access to that? I forgot about it until about five minutes ago. How are you going to manage that? Like, how are you going to figure out how to do that? Because we opened those cans of worms. We're like, we'll do this fun thing. And then we're like, oh gosh, now we have to figure out actually how to do that. And people are going to be pissed. That was very cool. Great, great job. I don't know. Let's give away a thousand TXC a week. Let's do a thousand next week. That's awesome. So now there's like, you know, now I can tell lots of people, like I'm going to go out there and tell my friends who aren't in TXC yet. I'm going to say you can win a thousand TXC by tuning into our call. Do it, you know, it's worth it. So awesome. Yeah. The other thing we can do as well is we can start giving away outside of Texas and Arizona mining hash power as well. And that to me is my favorite part because if you give away a hundred TXC or a thousand TXC, you know, you got two options. Sell it, get some cash, you know, or hold on to it and sell it later. That's it. That's all you can do. With mining hash power, you get more coins every day. so you could sell those coins every day you could save those coins which you're going to get more tomorrow and so that's the idea of mining it's it's the you know um it's the the generational wealth it's the it's the you know incentive that keeps happening day in day out so you know if you get into bitcoin and you buy bitcoin it you know ten thousand dollars and it goes to twenty thousand dollars and you're talking to people about it well as soon as you cash out your journey is done You're not talking about it anymore. You did it. You made money. You finished your journey and it's over. But if you were mining it and you had more of it every single day, every day you would have more incentive to continue talking to people about it. And so, you know, we've got that happening now with zero chill. Zero Chill is a gaming platform where you can participate and play games to earn hash power. What a cool thing. Now, instead of just having a reward you cash out one time, you've got a reward and incentive to keep building that community. I think that's the big thing that's going to make us different as we go into this next phase of our ecosystem development, having people with a seat at the table and an ongoing incentive, an effervescent you know, evergreen incentive that continues to build value because the mind sends out that reward every single day so that's it for today thanks everyone for joining it's early for me here i've got to get off to the factory to get the next batch of cold storage coins manufactured um the new coins with seeds on them are what you need in order to participate with all the fun stuff that's coming out in the ecosystem so thanks for tuning in have a great night and maddie take us away