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Just because you put crypto on top
of an idea doesn't inherently make it good.

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But in a bull market, that
will be the narrative. We have

3
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crypto on top of our AI idea, or a metaverse idea or a game

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idea. Therefore it has evaluation that's
insane, and markets will pump because the

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liquidity is scarce and height gids really
big and all this sort of stuff.

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But metaverse is a very interesting area
and I think it will be very big,

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00:00:21,039 --> 00:00:24,960
and we will see crypto integrations even
in the big ones. You're listening

8
00:00:25,000 --> 00:00:30,399
to Carrie Letz's Financial Survival Network,
where you get valuable information you just can't

9
00:00:30,399 --> 00:00:36,399
find anywhere else to thrive in today's
trying times. You need the Financial Survival

10
00:00:36,439 --> 00:00:42,039
Network now more than ever. Go
to Financial Survivalnetwork dot com and get your

11
00:00:42,159 --> 00:00:52,320
free newsletter and gift. Financial Survival
Network now more than ever, And welcome

12
00:00:52,479 --> 00:00:56,240
you are listening to and watching the
Financial Survival Network. I'm your host,

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00:00:56,320 --> 00:00:59,560
Terry Lutz. Hey, t you
know, I've been involved in the crypto

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space for years and years already over
a decade. I wish I had kept

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my six bitcoin that I got when
bitcoin was six hundred bucks a coin,

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but I didn't, so, hey, what can you do? I think

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I sold it it seven hundred dollars
a coin and felt I admit a killing

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and such as life. Well,
person you're about to hear from makes his

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living off the crypto space. But
he's not like any other of our crypto

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experts you've heard from before, is
very down to earth. He's he's got

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a newsletter over ninety thousand subscribers that
in itself tells you everything you need to

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know. His name is Lark Davis
Lark. It is great to have you

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on the show. Hey, so
I got a question for you. You're

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in the crypto space. You didn't
you weren't a kid saying gee, when

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I grow up, I want to
be into cryptocurrencies. Probably didn't even exist

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when you were a kid. How
did you get into the space? Yeah,

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it's a great question. Well,
a lot of what I do didn't

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exist when I was a kid.
You know, I was born in at

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the mid eighties, so growing up
in the nineties, we just got internet.

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I remember getting TV back in the
day, right, those were many

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times of the internet. Ah,
yeah, back in the day when he

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had to somebody had to be off
the phone in order to use the Internet

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at the same time. So my
age here crypto has been a very exciting

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space and making content and crypto has
been an absolute pleasure to do. Lots

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of challenges of course along the way
wild but I got a new crypto content

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creation around the same time that I
got into crypto investing. So I started

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investing in crypto. First bought my
first big coin, bought my first old

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coins, and then I said,
what's next? How do how do I

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get more involved in this space.
I started going down the rabbit hole learning

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about things, and I found this
application which was called the Steam blockchain,

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and basically it was an early social
media platform on the crypto space. Posture

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step there, people up money,
yeah, do you remember. So I

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started posting articles over there and did
okay, and I started really getting into

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the idea of doing it. And
of course anyone that I posted on crypto

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got really popular over there and got
nice up votes, and so I started

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doing more of that content because I
was super interested in myself, so why

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not. I started answering the questions
of people are asking over there and trying

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to dig dive into these topics myself
and one thing led to another. I

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was like, man, it's taking
a long time to write all these posts

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out. I'm just going to start
recording videos to share my thoughts that way,

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YouTube channel started taking off. Of
course, as I hosted on YouTube,

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one thing led to another, and
I didn't necessarily start out as I'm

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going to create a big business out
of this, which has become now the

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newsletter and the course sales and everything
else that we're doing across the space,

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and we're making industrial levels of content
right now. We're doing one hundred and

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forty four shorts a month posted across
eight different social media accounts, and we're

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doing twenty live streams a month and
twenty long form videos a month. Like

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we're tracking out content of course now
at the time. But it never started

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off with the intention of going in
that direction. But the more I got

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involved in the space and the more
I got sort of red pilled on crypto,

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I decided that's it, this is
what I wanted to do, And

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in November of twenty seventeen, a
month before the all time, I quit

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my day job, went all on
Crypto twenty eighteen. I started questioning that

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decision during the bear market, of
course, but I said, no,

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this is this is going to be
big. Bitcoin is that going away?

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The crypto space is not going away. This is a once in a lifetime

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opportunity. Akin to being early to
the Internet stuff back in the nineties or

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the early two thousands, I said, I got to go allut of this,

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and this is what I've done since
then, going all in on crypto.

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I love it. Great story,
A so state of crypto now,

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Bitcoin, Ethereum, few others.
I mean, why do we need twenty

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five hundred different cryptocurrencies and they're not
currencies, but that's the name they've gotten.

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It's a great question. The vast
majority of cryptocurrencies are relatively superfluous,

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but we're also seeing huge competition.
Now we can really break things down.

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We have Bitcoin, which is in
its own unique category essentially, and that's

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a whole conversation of itself. But
we start looking across the rest of the

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cryptocurrency space. You have early movers, You have things like Ethereum and the

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ecosystem building out around that, and
you have competition to be number two,

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three, four, five. They
might look at the smartphone space and go,

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well, Apple makes iPhones and they're
great, So why would we need

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any other iPhone or any other mobile
phones. People like choices, right.

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My guess is that we're probably going
to have four or five within a decade,

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we're going to have four or five
blockchains that capture ninety percent plus of

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the users in value. In the
cryptos space, We're already starting to see

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winners starting to form up. Doesn't
mean new competitors can't come in and make

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a big impact and be one of
the big ones, but in general,

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we're going to see a huge consolidation
of money and resources into a very small

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space in the crypto area. A
lot of blockchains will fail. We've already

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seen the vast majority of blockchains that
have come out over the years fail.

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I could brab all kinds of names. In twenty seventeen, the people thought

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we're going to be the new big
thing, and nobody talks about them anymore

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because they fail. They fail,
but the users they fail to get adoption,

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they failed. The applications built on
the meal see saying think it happen

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as people iterate new ideas, New
infrastructures being built all the time. New

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technology is advancing all the time in
the crypto space, so there is legitimate

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use case for some of these new
things that are coming out, some of

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these new data availability networks and stuff
like that. There's a use case for

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that. There is an important level
of infrastructure adding to crypto for that.

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But then you start digging even deeper
into the crypto space and you see,

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do we really need fifty perpetual swap
exchanges on chain? No, we don't,

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and we don't need to have five
on every blockchain and every layer two

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that exists out there. But again, we're in a very competitive phase right

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now, and whoever wins from wild
or leaf phase will be the winner exactly

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wild West stuff, and there'll be
big winners out of this and huge losers.

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All right, So let's go back
here like NFTs. We're all the

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rage. Is there any freaking purpose
in this world for an NFT of somebody's

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song or artwork or whatever that doesn't
even give you any rights to use it?

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Well, NFTs are a very interesting
thing, and they got way overblown

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at the height. Obviously, people
were buying monkey pictures for a million dollars.

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Things got a little bit out of
control here, guys. But the

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NFT technology is actually a revolutionary technology
because what we're talking about is verifiable scarcity

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and digital ownership on the Internet.
I always like to use the examples like

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baseball cards or something. If you
could have a baseball card on chain that

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you know, okay, there's only
five of this particular baseball player and that's

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one of the ones that I have, and you can verify that. And

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as we're seeing nowadays with the actual
baseball cards, spots, fakes and stuff

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are coming out. They're really hard
to identify, and so it's becoming a

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problem in the baseball card and magic
cards and all these things sort of world

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now profile pictures and stuff like that. It's a much trickier area because it

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really depends on, okay, what
culturally takes off within certain niches of the

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market, and things like crypto punks
for example, because there's such a legacy

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set in the NFT space, people
are willing to pay one hundreds of thousands

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of dollars for those, and people
in crypto have such stupid amounts of money

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that they will pay for that.
But that's just sort of the surface level

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of NFT technology. We start diving
down into its huge applications and like the

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gaming space, for example, being
able to own your in game assets and

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trade them and have proof of where
they've been. Okay, John the famous

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video game player played with this in
this big video game tournament, and I

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want to own that because he's selling
it now and I can own that piece

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of history because it's important to me, which may not be important to us,

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but it's going to be important to
somebody. And then we go to

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real world applications, well, real
estate deeds online, something like one in

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three people in the world can't prove
they own their property. Well, they

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always been a big blockchain, So
that's vote. Yeah, that's authentication of

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data and authentication of assets. Hey, so what about the metaverse? Does

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that metaverse work with any of this
stuff? Or is the metaverse just a

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figment of the sucks imagination? Well, the metaverse is real and scary,

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and Apple Vision pro makes me worried
for my children growing up in this world.

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I want to see them when they're
adults, not have been plugged into

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the metaverse. I won't know.
There's my kids in the metaverse, but

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unfortunately might happen. Hopefully, hopefully
we're just screen time enough that them become

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massively addicted to technology like everybody else. But hey, a tough battle to

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fight. Look NFTs in crypto and
metaverse, it actually all comes together.

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And again, as we so much
see in the crypto space, a huge

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amount that we're seeing is overhyped bullshit, people over promising, under delivering,

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failing to get users. Just because
you put crypto on top of an idea

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doesn't inherently make it good. But
in a bull market, that will be

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the narrative. We have crypto on
top of our AI idea or a metaverse

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idea or a game idea. Therefore
it has evaluation that's insane, and markets

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will pump because the liquidity is scarce
and height kids really big and all this

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sort of stuff. But metaverse is
a very interesting area and I think it

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will be very big, and we
will see crypto integrations even in the big

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ones like metabirds is on Facebook will
have some kind of crypto integrations. We

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saw a lot of these big social
media platforms already experimented with n FT integrations,

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and there'll be token integrations and all
this kind of stuff. But be

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careful because again we don't need one
hundred metaverses. Yeah. You know one

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thing that I was like disappointed in
when Facebook was going to come out with

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its own coin and it would pay
its vendors in that coin and collect fees

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in that coin. All that that
I thought was really going to sweep the

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world. And then the I think
it was Janet Yellen who was then I

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think at the FED head of the
FED shot that down and all of a

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sudden that idea was gone. You
think these things are going to come back,

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You think you have a Tesla coin
and a Google coin or whatever.

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Probably, in fact, that was
such a bad decision by Janet Yellen because

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one of the interesting things is that
stable coins, and what Facebook was proposing

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was a stable coin. So essentially
Facebook was proposing was to make the biggest

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social network platform in the world become
the biggest bank in the world for the

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US dollar. And they're so dumb
in Washington that they couldn't see this is

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a massive wind for us. We're
going to extend the dominance of the dollar

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by decades here because everybody is Facebook. Everybody's even paid ten dollars on Facebook,

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and it's gonna be huge for us. Instead they shut it down.

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It was a massive win American company
with an American dollar stable coin, biggest

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social media network in the world.
Dinosaurs on Washington just couldn't see it.

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Yeah and yeah, in their logic
for doing it made no sense. You

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00:11:24,720 --> 00:11:30,480
know, money laundering, nobody tracks
you more than Facebook. So every coin

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that was going to be generated would
easily be traceable and whatever else, it

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would give them a way way head
start and maybe even eliminate the need for

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cbdc's. Yeah, what had a
kill switch attached to it, it would

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have been perfect. Not that I'm
not a big fan of it, but

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you know, from the perspective of
the government, it would have been a

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00:11:50,399 --> 00:11:54,200
perfect tool. But they just can't
see it. There so stuck in their

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ways of banking. Extra prastructure from
the nineteen eighties works great, guys.

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00:11:58,360 --> 00:12:03,360
Well you got a tech to settle
a reserve, which is by the big

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00:12:03,399 --> 00:12:11,120
banks. Yeah. You know,
you go three times where they're latently furthering

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the interests of their shareholders, and
then other times where it's not as clear.

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But they always do have that in
mind. They always serve for their

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master So what about cbdc's. CBDCs
are scary and they're coming without a doubt,

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Make make no mistake, they're going
to bring them. And I know

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00:12:28,399 --> 00:12:33,320
there's been some China has gone a
Yeah, China's already rolling them out.

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They've been testing them for years,
and it's got to become very mainstream there

191
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very soon. And all I have
to ask to get people to understand the

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00:12:41,000 --> 00:12:45,440
terror of CBDCs is do you trust
your government? And almost unequivocally the answer

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00:12:45,480 --> 00:12:46,639
is know. So, if you
don't trust your government, then why would

194
00:12:46,639 --> 00:12:48,879
you give them a tool they can
shut off your money at any time?

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00:12:48,919 --> 00:12:54,960
Why did you say something wrong on
Facebook or where your social credit score plunges

196
00:12:54,240 --> 00:12:58,679
for no reason that you know of
the as you know, right, you

197
00:12:58,720 --> 00:13:01,000
flow on a plane so many times
this year. You're not allowed to buy

198
00:13:01,039 --> 00:13:05,840
any more plane tickets because we have
to perfect the environment. Sorry, yeah,

199
00:13:05,919 --> 00:13:07,960
right, You're not allowed to buy
this bottle of vad today because we

200
00:13:09,080 --> 00:13:11,600
think you've been drinking too much this
month. And if that sounds crazy,

201
00:13:11,679 --> 00:13:13,159
China is already doing it. If
you're not going to roll it out in

202
00:13:13,200 --> 00:13:16,279
the West, then you haven't been
a thaying attention. Yeah, it's definitely

203
00:13:16,279 --> 00:13:20,919
a means of tyranny and the who
knows, maybe it's the mark of the

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00:13:20,960 --> 00:13:26,840
beast. You know, in the
Revelation it said that in order to do

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anything, you would have to have
a number, right, and oh maybe

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it's it. Everyone's got everyone's going
to have a number. You know.

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It's interesting too about cbdc's we think
about the very high level stuff, like,

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okay, they can turn off your
money. They already can do that

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to some extent. But turning off
your money is just the tip of the

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ice. Right. They can immediately
text your money, so they take tax

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out and just immediately straight into the
government coffers. What about this? What

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if they set expiry dates on your
money? Exactly? We're that Gary.

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So if you have ninety days to
spend your money, so you have to

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spend it, you can't save The
deal is like economy is not doing good,

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so they say, hey, here's
one thousand dollars worth of CBDC,

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but you got to use it in
the next thirty days or try and stimulate

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the economy guys, right, you
know, and just the the means,

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the nefarious possibilities that it opens up, you know, it's going to be

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rolled out a crisis too. Yeah, So what you're feeling is about precious

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metals. Is that a barbarous relic
or does it still have a role in

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our digital world. It's interesting.
I've got gold and silver. I like

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precious metals. I enjoy the collecting
aspect, like in the coins and the

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bars. It's fun. Sure that
being said, gold compared to bitcoin,

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for example, has been a massive
underperformer. And if you like gold,

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then you're really gonna love bitcoin because
it's got a lot of the same properties,

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just with more volatility. It's an
earlier assets, a younger asset,

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and you think about the general use
cases for why you're holding gold. You're

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holding gold because you want to protect
your value, and bitcoin also protects your

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value with more volatility. You can't
look at a day to day, week

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tweak month to month even you have
to understand a multi year period on it.

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Any of the bitcoin that I've bought
in basically the last seven eight years

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is in profit now. Sure,
and I know we've had a big run

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recently, but even recently, even
when the price was at like thirty thousand

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dollars, I was still in profit
on my bitcoin because I've just been consistently

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adding to that position over time,
and it's got a lot of features that

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make it more interesting, of course
than goal. We know the verifiable supply

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a bitcoin. We can send bitcoin
anywhere in the world. Try to take

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a ten million dollars of gold across
a border with you good luck, good

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luck. It's got to be a
hard take ten million dollars in bitcoin easy.

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Hey. So, so you know, the government has these restrictions like

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if you have you can leave the
country with the ten thousand dollars or more,

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but you have to report it,
and if you don't and they find

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out, they'll confiscate it, and
it's a whole mess. But with bitcoin,

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you just have your wallet, and
hey, your wallet's accessible wherever you

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are, so it really impinges upon
the government's potential for control. There's other

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aspects I don't want to get into
it now, with the nodes, the

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weakness of the basic bitcoin architecture that
makes it possible for governments to do things.

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But we'll say that for next time. In the meantime, Lark,

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how do we find you? How
do you subscribe to your newsletter and Twitter

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00:16:36,799 --> 00:16:40,080
and all that good stuff. You
can just find me. Look up Lark

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00:16:40,159 --> 00:16:41,840
Davis on YouTube or Twitter. You'll
find me. Make sure you get the

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00:16:41,919 --> 00:16:45,879
verified account on x A lot of
imverse stayers out there, and you want

253
00:16:45,919 --> 00:16:49,240
to check out our newsletter. It's
a great Alpha pac newsletter. We try

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00:16:49,240 --> 00:16:53,080
to get you as much news and
air drop info and NFT info and all

255
00:16:53,080 --> 00:16:56,440
that kind of stuff, you know, depending on your risk levels in the

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00:16:56,480 --> 00:17:00,279
space, every single week. You
can find it at the wealth master io

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00:17:00,960 --> 00:17:04,880
all right, and the link to
that is in the show notes to this

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00:17:06,000 --> 00:17:10,559
interview on Financial Survival Network dot com. So just go there and click it.

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00:17:10,799 --> 00:17:14,359
While you're there, sign up for
your free newsletter as well, and

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00:17:14,720 --> 00:17:18,319
Lark, been a total pleasure,
really. You know what I really like

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00:17:18,480 --> 00:17:25,160
is I can see your understanding of
the crypto space very deep, very profound,

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00:17:25,559 --> 00:17:30,559
and yet you're able to express it
in bite sized nuggets that many of

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00:17:30,559 --> 00:17:36,079
you out there are looking for but
can't find someone who has the ability to

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00:17:36,160 --> 00:17:40,480
do it. So, hey,
I'm a subscriber now. I suggest everybody

265
00:17:40,519 --> 00:17:44,960
out there subscribe. Go for the
premium, not that much money, it'll

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00:17:45,000 --> 00:17:48,440
definitely be worth your while. I
think this is one of the best ways,

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00:17:48,519 --> 00:17:52,319
Lark to keep track of the space
in ways that people who are not

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00:17:52,440 --> 00:18:00,079
technically oriented, who you don't have
the technical tools to understand all this is

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00:18:00,119 --> 00:18:04,720
really a plus. So appreciate you
coming on any questions, comments kl at

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00:18:04,759 --> 00:18:07,799
Carrie LUTs dot com. We will
get you an answer quick. Lark,

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00:18:08,000 --> 00:18:11,680
we'll talk to you again soon.
You're a regular on the show. Now,

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00:18:11,720 --> 00:18:15,759
thanks for stopping by, Thank you, thanks for listening to Carrie Letz's

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00:18:15,759 --> 00:18:21,400
Financial Survival Network, your solution to
today's trying times. For the latest,

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00:18:21,480 --> 00:18:27,160
go to Financial Survivalnetwork dot com.
Financial Survival Network now more than ever,