1 00:00:00,080 --> 00:00:03,360 Speaker 1: Hello, and welcome to another episode of The Mark ma Show, 2 00:00:03,480 --> 00:00:07,600 Speaker 1: where I am talking about Yes, bitcoin, if you didn't 3 00:00:07,600 --> 00:00:10,440 Speaker 1: know already, we're talking about bitcoin, We're talking about cryptocurrencies. 4 00:00:10,440 --> 00:00:15,240 Speaker 1: We are talking about this decentralized revolution that is happening 5 00:00:15,440 --> 00:00:18,000 Speaker 1: right now. We're literally witnessing it. You know, I get 6 00:00:18,040 --> 00:00:19,680 Speaker 1: asked a lot of times like is there going to 7 00:00:19,720 --> 00:00:22,360 Speaker 1: be a revolution? When is the revolution going to be? 8 00:00:22,640 --> 00:00:25,240 Speaker 1: Like it's like some event, like some date in time. 9 00:00:25,680 --> 00:00:28,040 Speaker 1: I think you can market on your calendar and know 10 00:00:28,040 --> 00:00:30,640 Speaker 1: what's happening. But the reality is we're we're in it, 11 00:00:30,760 --> 00:00:33,199 Speaker 1: we're living it, we're witnessing it. And I think if 12 00:00:33,240 --> 00:00:34,680 Speaker 1: you can kind of step back and just kind of 13 00:00:34,720 --> 00:00:38,319 Speaker 1: appreciate and look at some of the signs, um, we're 14 00:00:38,320 --> 00:00:40,560 Speaker 1: living through a historic moment in time. I mean, I 15 00:00:40,640 --> 00:00:43,560 Speaker 1: think if in the future, fifty years from now, history 16 00:00:43,560 --> 00:00:46,159 Speaker 1: books will be written about things that are going on, 17 00:00:46,960 --> 00:00:49,919 Speaker 1: and if you're not paying attention, it could end up 18 00:00:49,960 --> 00:00:51,400 Speaker 1: not being so good for you. But if you are 19 00:00:51,400 --> 00:00:53,680 Speaker 1: paying attention, it could be one of the best times 20 00:00:53,720 --> 00:00:55,720 Speaker 1: of your life. We're gonna be witnessing one of the 21 00:00:55,800 --> 00:01:00,120 Speaker 1: largest wealth transfers in history, and the only question for 22 00:01:00,120 --> 00:01:02,160 Speaker 1: you is which side do you want to be on 23 00:01:02,400 --> 00:01:04,280 Speaker 1: the side that gives up your wealth to the side 24 00:01:04,319 --> 00:01:06,200 Speaker 1: that gets your wealth. Now I already know what side 25 00:01:06,200 --> 00:01:07,640 Speaker 1: I want to be on. I'm gonna be on the 26 00:01:07,680 --> 00:01:10,600 Speaker 1: receiving end, and hopefully you are. For what I've been 27 00:01:10,600 --> 00:01:15,080 Speaker 1: saying is the largest asymmetric That the largest asymmetric opportunity 28 00:01:15,120 --> 00:01:17,640 Speaker 1: of your lifetime. And you take advantage of that by 29 00:01:17,680 --> 00:01:21,320 Speaker 1: having asymmetric information, which is information most people don't have, 30 00:01:21,680 --> 00:01:23,640 Speaker 1: which is why I need to be tuning in with 31 00:01:23,680 --> 00:01:26,399 Speaker 1: me each end every week on this channel. So I 32 00:01:26,440 --> 00:01:28,760 Speaker 1: got some really good stuff today we're gonna be talking about. 33 00:01:29,560 --> 00:01:33,960 Speaker 1: I'm gonna give you two strategies that could maximize your 34 00:01:34,240 --> 00:01:38,600 Speaker 1: returns on your cryptocurrencies. I'm sure everybody likes that. Now. 35 00:01:38,720 --> 00:01:43,200 Speaker 1: I do often say that, um, the price is a distraction, right, 36 00:01:43,200 --> 00:01:45,440 Speaker 1: We should be looking at the growth of the network 37 00:01:45,440 --> 00:01:47,119 Speaker 1: and the development on the network, which we'll talk about. 38 00:01:48,000 --> 00:01:49,880 Speaker 1: But you know, the price is also good to we 39 00:01:49,920 --> 00:01:52,680 Speaker 1: all like to see our purchasing power increasing. I like 40 00:01:52,760 --> 00:01:54,280 Speaker 1: to say that it's a bait and switch. We get 41 00:01:54,320 --> 00:01:56,480 Speaker 1: baited in by the price and then we get switched 42 00:01:56,520 --> 00:02:00,680 Speaker 1: into the power of the technology. So since we're gonna 43 00:02:00,680 --> 00:02:02,560 Speaker 1: talk about price, We're gonna talk about returns, We're gonna 44 00:02:02,560 --> 00:02:04,680 Speaker 1: talk about increasing our purchasing power. I want to give 45 00:02:04,720 --> 00:02:08,000 Speaker 1: you two strategies that you can use between now and 46 00:02:08,080 --> 00:02:11,640 Speaker 1: the end of the year to make even more money. Now, 47 00:02:11,720 --> 00:02:13,320 Speaker 1: raise your hand if you want to make mormining. I'm 48 00:02:13,320 --> 00:02:14,720 Speaker 1: just kidding. I can't see you raise in your hand. 49 00:02:15,200 --> 00:02:18,480 Speaker 1: But I'm gonna give you those two things, and then 50 00:02:18,480 --> 00:02:20,320 Speaker 1: we'll talk about some of the other other factors. So 51 00:02:20,320 --> 00:02:22,919 Speaker 1: I got a big, big, big show for you today, 52 00:02:22,919 --> 00:02:25,400 Speaker 1: some important stuff that you're gonna want to pay attention to. 53 00:02:27,120 --> 00:02:29,400 Speaker 1: So before I do that, I just want to remind you. 54 00:02:29,480 --> 00:02:31,720 Speaker 1: Go ahead and just pull out your phone real quick. No, 55 00:02:31,919 --> 00:02:34,560 Speaker 1: not if you're driving, but if you're not driving, pull 56 00:02:34,560 --> 00:02:37,200 Speaker 1: out your phone real quick. Um, open up your calendar 57 00:02:37,240 --> 00:02:39,680 Speaker 1: at put a calendar reminder for this channel this time, 58 00:02:40,280 --> 00:02:41,959 Speaker 1: and joining me each and every week. It's gonna be 59 00:02:42,000 --> 00:02:44,520 Speaker 1: the most important part of the most profitable part of 60 00:02:44,560 --> 00:02:47,640 Speaker 1: your week each and every week. To tune in and 61 00:02:47,639 --> 00:02:50,560 Speaker 1: pay attention to what we're talking about. So you have 62 00:02:50,600 --> 00:02:56,919 Speaker 1: the asymmetric information to participate in the asymmetric opportunity. You're 63 00:02:56,919 --> 00:02:58,960 Speaker 1: listening to the Mark moas show where I talk about 64 00:02:58,960 --> 00:03:02,480 Speaker 1: bitcoin and cryptogram and seas in the decentralized Revolution each 65 00:03:02,560 --> 00:03:06,040 Speaker 1: and every week. So what are some of these strategies 66 00:03:06,040 --> 00:03:08,320 Speaker 1: that we're talking about. Well, I want to give you 67 00:03:08,360 --> 00:03:12,359 Speaker 1: two that can really help. Now, you've probably heard the 68 00:03:12,400 --> 00:03:15,960 Speaker 1: saying that a penny saved is a penny earned. I'm 69 00:03:16,000 --> 00:03:19,560 Speaker 1: sure you've heard that, right. So what that basically means 70 00:03:19,600 --> 00:03:22,160 Speaker 1: is that there's two ways to have more money. One 71 00:03:22,240 --> 00:03:25,320 Speaker 1: you could make more money, or two you could spend 72 00:03:25,480 --> 00:03:28,360 Speaker 1: less money. Now, I'm not a big fan of living 73 00:03:28,360 --> 00:03:34,000 Speaker 1: on a budget. Um, I think the strategy of trying 74 00:03:34,040 --> 00:03:36,160 Speaker 1: to skip your morning coffee to save a couple of 75 00:03:36,200 --> 00:03:40,480 Speaker 1: bucks is old and antiquated, and I don't like that. 76 00:03:41,160 --> 00:03:43,560 Speaker 1: I think it's better just to go make more money, 77 00:03:43,920 --> 00:03:46,640 Speaker 1: learn to provide more value to the world, or learn 78 00:03:46,720 --> 00:03:50,040 Speaker 1: ways that you can put your money and do assets 79 00:03:50,040 --> 00:03:51,520 Speaker 1: that go up and purchasing power. I think that's a 80 00:03:51,600 --> 00:03:54,160 Speaker 1: much better option than trying to, um, you know, cut 81 00:03:54,160 --> 00:03:56,240 Speaker 1: back on your morning coffee. So I'm not a big 82 00:03:56,240 --> 00:03:59,320 Speaker 1: fan of budgeting. However, there are ways that we can 83 00:03:59,560 --> 00:04:02,560 Speaker 1: shave enormous costs off that makes us more money. And 84 00:04:03,280 --> 00:04:06,840 Speaker 1: the number one biggest cost and expense that you have 85 00:04:07,120 --> 00:04:12,080 Speaker 1: is taxes. Now, Unfortunately, with cryptocurrencies, the I R S 86 00:04:12,160 --> 00:04:18,680 Speaker 1: decided I think back in the cryptocurrencies were property, all right, So, um, 87 00:04:18,720 --> 00:04:23,040 Speaker 1: there are an asset. They're not a currency. They're a commodity. 88 00:04:23,200 --> 00:04:25,680 Speaker 1: And the reason why that's important to understand is because 89 00:04:26,520 --> 00:04:29,600 Speaker 1: for taxes, you know the saying about taxes only two 90 00:04:29,600 --> 00:04:31,640 Speaker 1: things in life that are certain or death and taxes, 91 00:04:31,680 --> 00:04:36,360 Speaker 1: And so for taxes, cryptocurrencies are taxed like property. Their 92 00:04:36,400 --> 00:04:41,200 Speaker 1: tax like a commodity. Basically, their tax exactly like buying stock, 93 00:04:41,839 --> 00:04:45,760 Speaker 1: or buying gold or buying real estate. So if I 94 00:04:45,800 --> 00:04:48,000 Speaker 1: buy a house for a hundred thousand dollars and I 95 00:04:48,000 --> 00:04:49,840 Speaker 1: sell it for two hundred thousand dollars, I have a 96 00:04:49,920 --> 00:04:52,240 Speaker 1: hundred thousand dollars of profit, and I have to pay 97 00:04:52,320 --> 00:04:55,960 Speaker 1: tax on the hundred thousand dollars. Same with gold, Same 98 00:04:56,000 --> 00:04:59,360 Speaker 1: with Amazon or Facebook or Google Stock. If I buy 99 00:04:59,360 --> 00:05:01,320 Speaker 1: a Google Stock and I sell it and I have profit, 100 00:05:01,400 --> 00:05:04,240 Speaker 1: I owe tax on that profit. Well, cryptocurrency is the 101 00:05:04,279 --> 00:05:07,839 Speaker 1: same thing. If I buy a cryptocurrency, it goes up 102 00:05:07,880 --> 00:05:10,839 Speaker 1: in value and I sell it, I owe tax on 103 00:05:10,920 --> 00:05:14,080 Speaker 1: the profit. Now, there are a lot of people thought 104 00:05:14,120 --> 00:05:17,280 Speaker 1: that I was able to you were able to go 105 00:05:17,400 --> 00:05:22,479 Speaker 1: from one cryptocurrency to another without triggering a taxable event. 106 00:05:23,320 --> 00:05:26,800 Speaker 1: That's like a like kind trade. Now I'm not a 107 00:05:26,839 --> 00:05:29,040 Speaker 1: tax professional. I do want to tell you right off 108 00:05:29,040 --> 00:05:31,680 Speaker 1: the bat that anything that I'm telling you is not 109 00:05:31,760 --> 00:05:33,760 Speaker 1: financial advice, and I am not a tax professional, and 110 00:05:33,760 --> 00:05:35,920 Speaker 1: you should take this information and go discuss it with 111 00:05:36,080 --> 00:05:39,120 Speaker 1: your own tax professional. So let me just tell you that. 112 00:05:39,960 --> 00:05:41,920 Speaker 1: But I've been working with my tax professionals for a 113 00:05:41,920 --> 00:05:44,040 Speaker 1: long time, and so these are strategies that that are 114 00:05:44,040 --> 00:05:48,080 Speaker 1: commonly known and that we use. But again, go talk 115 00:05:48,080 --> 00:05:50,520 Speaker 1: to them, because taxes are very personal. Where we live 116 00:05:50,520 --> 00:05:53,800 Speaker 1: in different countries or different states or different cities with 117 00:05:53,800 --> 00:05:57,520 Speaker 1: different taxes. Different income levels, have different tax brackets, we 118 00:05:57,560 --> 00:05:59,919 Speaker 1: have different types of right off, so it's all very personal. 119 00:06:00,040 --> 00:06:02,680 Speaker 1: So get your own advice. But two things, right, So, 120 00:06:02,760 --> 00:06:05,320 Speaker 1: taxes is our single biggest expense, and if we can 121 00:06:05,360 --> 00:06:08,280 Speaker 1: reduce our taxes, then we can make more money. Right 122 00:06:08,360 --> 00:06:11,880 Speaker 1: makes it? Makes it simple. So you sold that proverbial asset, 123 00:06:11,960 --> 00:06:13,280 Speaker 1: you know, you bought it for a a hundred thousand and 124 00:06:13,279 --> 00:06:15,480 Speaker 1: sold a two and have a hundred thousand dollars of profit. 125 00:06:15,880 --> 00:06:18,360 Speaker 1: If you um did that in less than a year. 126 00:06:18,480 --> 00:06:21,640 Speaker 1: You would probably owe ordinary income tax on that, and 127 00:06:21,760 --> 00:06:24,360 Speaker 1: if you lived in a state like California, then about 128 00:06:24,440 --> 00:06:27,480 Speaker 1: fifty of that goes to tax. Also, of the hundred 129 00:06:27,480 --> 00:06:30,520 Speaker 1: thousand profit, fifty thou dollars goes to tax. If you 130 00:06:30,520 --> 00:06:32,760 Speaker 1: live in a state with no state taxes like Texas 131 00:06:32,839 --> 00:06:35,280 Speaker 1: or Nevada for example, or Florida, you would just sow 132 00:06:35,320 --> 00:06:38,279 Speaker 1: the federal which is probably about dependent at tax bracker 133 00:06:38,320 --> 00:06:41,720 Speaker 1: could be. But what if I didn't have to give 134 00:06:41,800 --> 00:06:44,520 Speaker 1: up that thirty, forty or fifty, Well, then you would 135 00:06:44,520 --> 00:06:46,960 Speaker 1: have the hundred thousand or closer to it. And so 136 00:06:47,000 --> 00:06:49,560 Speaker 1: there is a way to do that. There's there's two 137 00:06:49,600 --> 00:06:51,280 Speaker 1: main ways that you can do that, and this is 138 00:06:51,279 --> 00:06:54,960 Speaker 1: what we're gonna talk about today because I want to 139 00:06:54,960 --> 00:06:57,680 Speaker 1: put more money back into your pocket. So um. The 140 00:06:57,720 --> 00:07:01,800 Speaker 1: first thing is that because it's acts treated like this, uh, 141 00:07:02,120 --> 00:07:04,960 Speaker 1: this property, you can't just buy and sell it one 142 00:07:05,000 --> 00:07:07,279 Speaker 1: for the other. Now again, talk to your text professional 143 00:07:07,279 --> 00:07:09,680 Speaker 1: about that. But there is something that you can do 144 00:07:09,840 --> 00:07:14,920 Speaker 1: today that you can't do with other assets. And the 145 00:07:15,080 --> 00:07:18,000 Speaker 1: rules might be changed after the after the first of 146 00:07:18,120 --> 00:07:20,400 Speaker 1: next year, so you kind of have the rest of 147 00:07:20,400 --> 00:07:23,480 Speaker 1: this month to figure this out before you go into 148 00:07:23,480 --> 00:07:26,200 Speaker 1: the new tax yere and you potentially lose that. And 149 00:07:26,280 --> 00:07:30,920 Speaker 1: so what we're specifically talking about is something called wash 150 00:07:31,360 --> 00:07:35,120 Speaker 1: sales or wash trading, and so what that means is, 151 00:07:35,160 --> 00:07:39,480 Speaker 1: let's say that right now Bitcoin is down, UM, most 152 00:07:39,520 --> 00:07:42,520 Speaker 1: of the cryptocurrency market is down right now today off 153 00:07:42,560 --> 00:07:44,240 Speaker 1: of its previous high. And it's not down a lot, 154 00:07:44,360 --> 00:07:49,320 Speaker 1: it's down whatever it is um, but it's down. And 155 00:07:49,360 --> 00:07:52,440 Speaker 1: so potentially you could have bought bitcoin or some other 156 00:07:52,480 --> 00:07:56,280 Speaker 1: crypto asset um at its previous peak of say sixty 157 00:07:56,360 --> 00:08:00,360 Speaker 1: nine thousand, and right now it's at about fifty six thousand, 158 00:08:01,840 --> 00:08:04,520 Speaker 1: and so you could have potentially lost money. So let's 159 00:08:04,560 --> 00:08:07,080 Speaker 1: say that you bought the bitcoin at at sixty nine thousand, 160 00:08:07,440 --> 00:08:09,760 Speaker 1: right now it's at fifty six thousand. What you could 161 00:08:09,800 --> 00:08:12,080 Speaker 1: do and again talk to your professional, but what you 162 00:08:12,080 --> 00:08:14,680 Speaker 1: could do is you could sell the bitcoin right now 163 00:08:15,280 --> 00:08:19,080 Speaker 1: for fifty six thousand dollars and book a loss. So 164 00:08:19,120 --> 00:08:23,600 Speaker 1: you're basically going to take about a measure this out 165 00:08:23,640 --> 00:08:28,640 Speaker 1: for you. You could potentially have about a loss, and 166 00:08:28,680 --> 00:08:30,560 Speaker 1: then what you do is you turn around and just 167 00:08:30,600 --> 00:08:34,079 Speaker 1: buy the bitcoin again. So you bought it at sixty UM, 168 00:08:34,120 --> 00:08:36,480 Speaker 1: you sell it right now for fifty six thousand, you 169 00:08:36,559 --> 00:08:38,920 Speaker 1: book the loss and then you just buy it back again. 170 00:08:39,800 --> 00:08:42,120 Speaker 1: And what you do is you take that loss and 171 00:08:42,200 --> 00:08:46,280 Speaker 1: you can apply it to other gains. So now when 172 00:08:46,320 --> 00:08:48,880 Speaker 1: you file your taxes, any other profits that you have, 173 00:08:49,080 --> 00:08:53,000 Speaker 1: you could use that loss as a write off against that. Now, 174 00:08:53,000 --> 00:08:56,680 Speaker 1: there's more to this than that. Like a lot of things, 175 00:08:56,679 --> 00:08:58,440 Speaker 1: if you miss a few pieces of information, it could 176 00:08:58,440 --> 00:09:00,960 Speaker 1: be dangerous. So I'm gonna fill you more on that, 177 00:09:01,000 --> 00:09:03,640 Speaker 1: and then i want to tell you another strategy that 178 00:09:04,040 --> 00:09:06,880 Speaker 1: um is different, but it can also put a lot 179 00:09:06,880 --> 00:09:09,040 Speaker 1: more money in your pocket. Now you're listening to the 180 00:09:09,040 --> 00:09:10,920 Speaker 1: Mark mo Show. If you're just tuning in, thanks for listening. 181 00:09:10,960 --> 00:09:13,640 Speaker 1: We're talking about bitcoin, we're talking about cryptocurrencies. We're talking 182 00:09:13,640 --> 00:09:17,679 Speaker 1: about the decentralized Revolution. Trying to give you the asymmetric 183 00:09:17,679 --> 00:09:21,280 Speaker 1: information that you need to participate in the largest asymmetric 184 00:09:21,320 --> 00:09:24,120 Speaker 1: bet we will ever see. I'll be right back with 185 00:09:24,200 --> 00:09:26,640 Speaker 1: more info on how to save on the taxes, So 186 00:09:26,679 --> 00:09:28,920 Speaker 1: don't go away, all right, Welcome back. You are listening 187 00:09:28,920 --> 00:09:31,079 Speaker 1: to the Mark ma Show where we're talking about bitcoin 188 00:09:31,160 --> 00:09:34,040 Speaker 1: and we're talking about cryptocurrencies, and we are talking about 189 00:09:34,320 --> 00:09:38,920 Speaker 1: the d centralized Revolution. I know you hear these buzzwords 190 00:09:38,920 --> 00:09:41,760 Speaker 1: and I don't know what they mean, and web three 191 00:09:41,880 --> 00:09:45,200 Speaker 1: and decentralized and this and that. But don't worry. It's 192 00:09:45,240 --> 00:09:46,840 Speaker 1: not as complicated as it sounds. And we'll go through 193 00:09:46,840 --> 00:09:49,160 Speaker 1: each piece week by week by week. So make sure 194 00:09:49,160 --> 00:09:51,320 Speaker 1: you keep tuning in with me. But what we're talking 195 00:09:51,320 --> 00:09:54,240 Speaker 1: about before the break is we're talking about one of 196 00:09:54,280 --> 00:09:56,679 Speaker 1: the easiest ways, um and maybe one of the most 197 00:09:56,679 --> 00:10:00,640 Speaker 1: powerful ways to increase your income is to reduce your expenses. 198 00:10:01,120 --> 00:10:03,880 Speaker 1: And taxes are your single biggest expense, and so if 199 00:10:03,920 --> 00:10:07,320 Speaker 1: you can reduce your taxes, then you can increase your income. Right, 200 00:10:07,440 --> 00:10:09,720 Speaker 1: makes sense. Then back to the as I said earlier, 201 00:10:09,760 --> 00:10:11,920 Speaker 1: that the penny saved or the dollar saved as the 202 00:10:11,920 --> 00:10:15,400 Speaker 1: dollar earned kind of thing. And so we're talking about 203 00:10:15,400 --> 00:10:18,720 Speaker 1: something called wash wash sale or like wash trading. And 204 00:10:18,800 --> 00:10:20,520 Speaker 1: so what I was saying before the break is that 205 00:10:20,600 --> 00:10:24,000 Speaker 1: if you potentially had bought some cryptocurrencies, um, and they're 206 00:10:24,000 --> 00:10:26,760 Speaker 1: down right now. You know, they're down across the board, 207 00:10:27,679 --> 00:10:29,599 Speaker 1: which isn't that big for cryptocurrencies if that was the 208 00:10:29,640 --> 00:10:32,400 Speaker 1: traditional stock market to be a blood bath. But let's 209 00:10:32,400 --> 00:10:34,679 Speaker 1: say that you bought bitcoin at sixty nine thousand at 210 00:10:34,679 --> 00:10:36,440 Speaker 1: its previous all time high a few weeks ago, and 211 00:10:36,559 --> 00:10:38,800 Speaker 1: right now it's at fifty six thousand. So you could 212 00:10:38,880 --> 00:10:41,680 Speaker 1: sell it today at fifty six thousand, book a loss, 213 00:10:41,760 --> 00:10:44,360 Speaker 1: you know, eighteen percent loss or so, and then just 214 00:10:44,360 --> 00:10:46,360 Speaker 1: buy it back again. So you still own it, but 215 00:10:46,440 --> 00:10:48,439 Speaker 1: you just sold it and bought it. And the reason 216 00:10:48,480 --> 00:10:49,920 Speaker 1: why you would do that is because you you took 217 00:10:49,920 --> 00:10:51,360 Speaker 1: a loss. You brought a sixty nine and you sold 218 00:10:51,360 --> 00:10:55,319 Speaker 1: it fifty six, and now you can apply that loss, 219 00:10:55,760 --> 00:10:59,120 Speaker 1: however much it was to any other potential games that 220 00:10:59,200 --> 00:11:02,880 Speaker 1: you had this year, so you're reducing your taxbill expense. Now. 221 00:11:03,160 --> 00:11:08,040 Speaker 1: Typically this is not okay wash sales. Wash trading is 222 00:11:08,080 --> 00:11:11,199 Speaker 1: not okay to do with stocks. I believe you have 223 00:11:11,320 --> 00:11:16,080 Speaker 1: to wait thirty days in between typically, but by the 224 00:11:16,080 --> 00:11:17,920 Speaker 1: time you sell and rebuy again, I think it's thirty 225 00:11:18,000 --> 00:11:22,040 Speaker 1: days again ask your tax professional. But with cryptocurrencies that's 226 00:11:22,080 --> 00:11:24,800 Speaker 1: not the case, at least for now. Now there's a 227 00:11:24,800 --> 00:11:27,400 Speaker 1: lot of rumors that there's some big, big, big tax 228 00:11:27,480 --> 00:11:30,079 Speaker 1: changes coming after the first of the year, and this 229 00:11:30,280 --> 00:11:33,920 Speaker 1: is apparently going to be one of them, so potentially 230 00:11:34,559 --> 00:11:36,560 Speaker 1: you may not be able to do this again next year. 231 00:11:36,800 --> 00:11:39,200 Speaker 1: And of course, the tax your closes in uh, you know, 232 00:11:39,440 --> 00:11:41,400 Speaker 1: less than less than thirty days. At this point, we're 233 00:11:41,440 --> 00:11:44,200 Speaker 1: in December. Man, I can't believe that the fast time flies. 234 00:11:44,559 --> 00:11:47,000 Speaker 1: So this is something that you might be able to, um, 235 00:11:47,160 --> 00:11:50,360 Speaker 1: you know, participate in and take advantage of this year. Um. 236 00:11:50,440 --> 00:11:52,720 Speaker 1: And at this point right now, all the prices of 237 00:11:52,720 --> 00:11:55,880 Speaker 1: cryptocurrencies are pretty much down. At this point, Um, they'll 238 00:11:55,880 --> 00:11:58,120 Speaker 1: probably pump if I'm here to the end of the year, 239 00:11:58,160 --> 00:12:01,000 Speaker 1: and so um, this might be one of your only 240 00:12:01,080 --> 00:12:02,520 Speaker 1: chances to do that. So that's something that you might 241 00:12:02,559 --> 00:12:06,280 Speaker 1: want to take into consideration. Now, another way that you 242 00:12:06,320 --> 00:12:10,160 Speaker 1: can also increase your income by reducing your expenses is 243 00:12:11,400 --> 00:12:16,280 Speaker 1: again reducing your taxes, and that would be to not 244 00:12:16,400 --> 00:12:24,360 Speaker 1: sell obviously, right, sounds pretty simple, just don't sell ever. Now, Um, 245 00:12:24,440 --> 00:12:26,839 Speaker 1: while that sounds super simple, there's actually more to it. Now, 246 00:12:26,840 --> 00:12:28,520 Speaker 1: by the way, you're listening to the Mark Moa Show, 247 00:12:28,559 --> 00:12:30,800 Speaker 1: which of course we're always talking about each and every week, 248 00:12:30,800 --> 00:12:33,960 Speaker 1: we're talking about bitcoin and we're talking about cryptocurrencies, and 249 00:12:34,000 --> 00:12:38,839 Speaker 1: we're talking about this decentralized revolution. And you know, so obviously, 250 00:12:38,880 --> 00:12:42,120 Speaker 1: if you don't sell the cryptocurrency and you don't have 251 00:12:42,200 --> 00:12:45,240 Speaker 1: any profit, then you don't have any taxes to pay. Right, 252 00:12:46,280 --> 00:12:48,320 Speaker 1: But what's the point of buying something and having an 253 00:12:48,360 --> 00:12:50,520 Speaker 1: open value if you don't ever sell, right, what's the 254 00:12:50,520 --> 00:12:54,440 Speaker 1: point of that? Well, you do it very strategically, and 255 00:12:54,480 --> 00:12:56,280 Speaker 1: so let me let me give you an example. So 256 00:12:58,800 --> 00:13:02,160 Speaker 1: depending on how old you are, if you're if you're 257 00:13:02,200 --> 00:13:03,880 Speaker 1: if you're older, I would say if you're you know, 258 00:13:04,080 --> 00:13:06,400 Speaker 1: in your late thirties or forties, at least are older. 259 00:13:07,040 --> 00:13:10,600 Speaker 1: I'm sure if you look back on your life and 260 00:13:10,679 --> 00:13:12,680 Speaker 1: thought back of all the assets that you've ever bought 261 00:13:12,720 --> 00:13:15,440 Speaker 1: or owned, whether it was stock from ten or twenty 262 00:13:15,480 --> 00:13:19,079 Speaker 1: years ago, you know, Facebook, Apple, Netflix, Google, Amazon, stock, 263 00:13:19,520 --> 00:13:21,960 Speaker 1: or it was a house that you had bought. Um, 264 00:13:21,960 --> 00:13:23,360 Speaker 1: I bet you if you could look back on some 265 00:13:23,360 --> 00:13:25,720 Speaker 1: of those assets and go, dang, if I still own 266 00:13:25,760 --> 00:13:29,880 Speaker 1: those assets, they'd be worth a lot of money today. Um. 267 00:13:30,000 --> 00:13:31,400 Speaker 1: And so if you could go back and kind of 268 00:13:31,400 --> 00:13:33,199 Speaker 1: have a do over, you might want to go back 269 00:13:33,240 --> 00:13:35,200 Speaker 1: and just keep those assets and never sell them. But 270 00:13:35,240 --> 00:13:36,960 Speaker 1: of course you can't. You can't. You can't get to 271 00:13:36,960 --> 00:13:39,760 Speaker 1: do over like that. But um, what I'm trying to 272 00:13:39,760 --> 00:13:41,040 Speaker 1: get you to do is kind of go back and 273 00:13:41,080 --> 00:13:43,640 Speaker 1: realize that because the way that the rich. The way 274 00:13:43,679 --> 00:13:47,760 Speaker 1: that the wealthy, the really wealthy, the generational wealthy people 275 00:13:47,840 --> 00:13:52,559 Speaker 1: get rich is to buy trophy assets. Trophy assets are 276 00:13:52,600 --> 00:13:55,720 Speaker 1: are something that's scarce, their rare assets. They buy these 277 00:13:55,720 --> 00:14:02,280 Speaker 1: trophy assets and they never sell them ever. Ever. I 278 00:14:02,280 --> 00:14:04,360 Speaker 1: say that with dramatic effect and ever and so like 279 00:14:04,360 --> 00:14:06,600 Speaker 1: look at warm Buffett, right, Warm Buffett Bbot Coca Cola 280 00:14:06,679 --> 00:14:09,040 Speaker 1: stock in the sixties. I mean he's owned it for 281 00:14:09,320 --> 00:14:11,960 Speaker 1: you know, sixty seventy years. At this point, you own 282 00:14:12,040 --> 00:14:16,160 Speaker 1: trophy assets and you never sell them. Now, if I 283 00:14:16,280 --> 00:14:21,240 Speaker 1: were to buy cryptocurrency and um, I'm trading it, or 284 00:14:21,280 --> 00:14:22,800 Speaker 1: I just bought it and sold it, and you and 285 00:14:22,840 --> 00:14:26,000 Speaker 1: you and you do a transaction within a year, then 286 00:14:26,080 --> 00:14:29,160 Speaker 1: you're going to pay what's called short term capital gains 287 00:14:29,200 --> 00:14:31,840 Speaker 1: on that, which is basically taxed the same as ordinary 288 00:14:31,840 --> 00:14:34,400 Speaker 1: income if you hold the asset. And again this applies 289 00:14:34,440 --> 00:14:36,720 Speaker 1: to stocks or real estate or gold as well, but 290 00:14:36,760 --> 00:14:38,560 Speaker 1: if you own them for more than a year, more 291 00:14:38,600 --> 00:14:40,880 Speaker 1: than twelve months, then you get was known as long 292 00:14:41,000 --> 00:14:45,000 Speaker 1: term capital gains, which is much better. It's typically fifteen 293 00:14:46,280 --> 00:14:51,640 Speaker 1: versus ordinary mun could be. So the first thing you 294 00:14:51,720 --> 00:14:52,920 Speaker 1: want to do is at least hold it for twelve 295 00:14:52,920 --> 00:14:54,640 Speaker 1: months to get the long term capital gains. But what 296 00:14:54,720 --> 00:14:56,480 Speaker 1: if you buy something and sell it within a year, 297 00:14:57,600 --> 00:15:00,960 Speaker 1: then you're getting hit with that full um, that full 298 00:15:00,960 --> 00:15:04,600 Speaker 1: tax built. Now some of you may know, some of 299 00:15:04,640 --> 00:15:06,960 Speaker 1: you may not that I have been living over in 300 00:15:06,960 --> 00:15:09,520 Speaker 1: Puerto Rico, been living over on the island, and one 301 00:15:09,520 --> 00:15:11,240 Speaker 1: of the reasons why I moved over to Puerto Rico 302 00:15:11,720 --> 00:15:16,560 Speaker 1: is because they have a very very very attractive tax plan. 303 00:15:17,200 --> 00:15:19,280 Speaker 1: And so basically what what what happened in Puerto Rico 304 00:15:19,400 --> 00:15:23,400 Speaker 1: is that they went bankrupt. Um. They defaulted on their bonds, 305 00:15:23,440 --> 00:15:26,240 Speaker 1: They defaulted on their debt, which is something that it's 306 00:15:26,320 --> 00:15:28,920 Speaker 1: really bad. You don't see nations do this, and I 307 00:15:28,920 --> 00:15:30,560 Speaker 1: think they're one of the first nations to do this. 308 00:15:31,120 --> 00:15:32,920 Speaker 1: But what I liked about what Puerto Rico did is 309 00:15:32,960 --> 00:15:35,480 Speaker 1: instead of just squeezing all the people more, trying to 310 00:15:35,560 --> 00:15:37,440 Speaker 1: tax them more, trying to get more blood out of them, 311 00:15:37,480 --> 00:15:40,600 Speaker 1: more money out of them, instead, they did something opposite 312 00:15:40,600 --> 00:15:43,240 Speaker 1: that you wouldn't normally see governments do, and that was 313 00:15:43,600 --> 00:15:47,560 Speaker 1: incentivize people to come and start businesses to bring revenue. 314 00:15:47,840 --> 00:15:50,720 Speaker 1: And so if you moved to Puerto Rico and you 315 00:15:51,120 --> 00:15:55,640 Speaker 1: um start a business that qualifies business that exports services UM, 316 00:15:55,680 --> 00:15:59,440 Speaker 1: and you can qualify for this Act sixty plan, then 317 00:15:59,600 --> 00:16:02,480 Speaker 1: you could qualified to have your business all your business 318 00:16:02,920 --> 00:16:06,680 Speaker 1: income tax at only four percent and you could pay 319 00:16:06,800 --> 00:16:11,560 Speaker 1: zero percent on cap gains taxes. Compare that to California, 320 00:16:11,840 --> 00:16:14,640 Speaker 1: where you're going to be paying at the top tax bracket. 321 00:16:14,640 --> 00:16:17,360 Speaker 1: You're gonna be paying well over fifty percent of your 322 00:16:17,400 --> 00:16:20,320 Speaker 1: income to taxes and you're gonna be paying thirty five 323 00:16:20,800 --> 00:16:25,000 Speaker 1: on cap gains. So by moving to UM from somewhere 324 00:16:25,040 --> 00:16:27,000 Speaker 1: a high tax state like California, moving to Puerto Rico, 325 00:16:27,040 --> 00:16:29,200 Speaker 1: it's like getting a hundred and fifty percent pay raise 326 00:16:29,680 --> 00:16:31,400 Speaker 1: and you're living on a beautif island in the Caribbean. 327 00:16:31,520 --> 00:16:32,920 Speaker 1: So that's why I've been hanging out over there like 328 00:16:32,960 --> 00:16:35,280 Speaker 1: a pirate in the Caribbean. It's been a good life. 329 00:16:35,280 --> 00:16:40,560 Speaker 1: But my one of my longest mentors for twenty five years, 330 00:16:40,600 --> 00:16:43,119 Speaker 1: I've been reading his books. I'm talking about Robert Kiyosaki, 331 00:16:43,160 --> 00:16:45,080 Speaker 1: who's now one of my good friends. By the way, 332 00:16:45,080 --> 00:16:48,600 Speaker 1: shout out to Robert if he's listening. UM. And Robert 333 00:16:48,600 --> 00:16:50,720 Speaker 1: has been giving me a hard time lately. As a 334 00:16:50,720 --> 00:16:52,360 Speaker 1: matter of fact, we were speaking at a conference together, 335 00:16:52,400 --> 00:16:55,000 Speaker 1: and he was calling me out by name from stage, saying, 336 00:16:55,280 --> 00:16:58,360 Speaker 1: you know, these people like Mark moss And and Peter Shift, 337 00:16:58,360 --> 00:17:01,840 Speaker 1: they're moving to places like Puerto Rico. Oh, um, to 338 00:17:01,840 --> 00:17:04,520 Speaker 1: get out of taxes. Don't they know that they don't 339 00:17:04,560 --> 00:17:06,400 Speaker 1: have to move to Puerto Rico to get out of taxes. 340 00:17:06,640 --> 00:17:10,800 Speaker 1: Don't they know that I don't pay taxes? They obviously 341 00:17:10,800 --> 00:17:12,399 Speaker 1: don't know, right, And he likes to make fun of 342 00:17:12,440 --> 00:17:16,879 Speaker 1: me like that, um, And he's right. There are strategies 343 00:17:16,880 --> 00:17:20,760 Speaker 1: that you can use to greatly reduce your taxes, um, 344 00:17:20,800 --> 00:17:23,280 Speaker 1: just like the rich do. It's like Robert Kiyosaki does. 345 00:17:23,920 --> 00:17:26,760 Speaker 1: And it's also some things that I'm starting to do 346 00:17:26,800 --> 00:17:28,560 Speaker 1: as well, and I'd love to share them with you. 347 00:17:28,560 --> 00:17:29,919 Speaker 1: So I want to tell you what that is. And 348 00:17:29,960 --> 00:17:34,480 Speaker 1: again I'm not a tax professional. You should definitely take 349 00:17:34,560 --> 00:17:36,760 Speaker 1: whatever I'm saying and take it to your tax professional 350 00:17:36,760 --> 00:17:38,240 Speaker 1: and discuss it with them and see if it applies 351 00:17:38,280 --> 00:17:41,720 Speaker 1: to your situation. But you don't know what you don't know, 352 00:17:41,920 --> 00:17:43,480 Speaker 1: and you don't know how to tell your tax professional 353 00:17:43,520 --> 00:17:44,920 Speaker 1: what you don't know, and so I at least want 354 00:17:44,920 --> 00:17:47,000 Speaker 1: to give you that. By the way, you're listening to 355 00:17:47,040 --> 00:17:49,919 Speaker 1: the Mark Moss Show where we're talking about bitcoin and 356 00:17:49,920 --> 00:17:54,760 Speaker 1: we're talking about cryptocurrencies, and we're talking about the decentralized revolution. 357 00:17:56,320 --> 00:18:00,280 Speaker 1: We're facing the greatest wealth transfer that we will ever see. 358 00:18:01,040 --> 00:18:03,439 Speaker 1: And you can decide you have a choice. Do you 359 00:18:03,440 --> 00:18:04,800 Speaker 1: want to be on the receiving end or do you 360 00:18:04,800 --> 00:18:06,600 Speaker 1: want to be se be on the giving end of 361 00:18:06,640 --> 00:18:08,200 Speaker 1: that wealth transfer? Of course I know what's side. I 362 00:18:08,240 --> 00:18:10,240 Speaker 1: want to be on. Uh and hopefully you want to 363 00:18:10,240 --> 00:18:11,480 Speaker 1: be on the receiving end as well. So we'll be 364 00:18:11,560 --> 00:18:13,520 Speaker 1: right back telling you how to save money on taxes. 365 00:18:13,600 --> 00:18:15,879 Speaker 1: Don't go away, all right, welcome back. You are listening 366 00:18:15,920 --> 00:18:18,320 Speaker 1: to the Mark Moss Show where we're talking about bitcoin 367 00:18:18,520 --> 00:18:20,560 Speaker 1: each and every week. We're talking about, of course, the 368 00:18:20,640 --> 00:18:26,600 Speaker 1: cryptocurrency move. We're talking about the decentralized revolution, and I'm 369 00:18:26,640 --> 00:18:28,960 Speaker 1: trying to give you the information that you need to 370 00:18:29,000 --> 00:18:32,919 Speaker 1: really participate to really take advantage of this. Damn. It's 371 00:18:32,960 --> 00:18:35,440 Speaker 1: a big subject. It's a deep subject. There's so much 372 00:18:35,520 --> 00:18:38,439 Speaker 1: to learn, and really, you know, you really have to 373 00:18:38,480 --> 00:18:42,160 Speaker 1: know about at least six, if not probably eight different 374 00:18:42,200 --> 00:18:45,679 Speaker 1: disciplines to really grasp what's going on. You need to 375 00:18:45,720 --> 00:18:49,760 Speaker 1: know about um money, right, and most people think they 376 00:18:49,760 --> 00:18:51,600 Speaker 1: know what money is, but most people don't don't know 377 00:18:51,640 --> 00:18:55,600 Speaker 1: what money is. You have to know about monetary history, 378 00:18:55,680 --> 00:18:58,280 Speaker 1: you have to understand economics. You have to understand philosophy, 379 00:18:58,720 --> 00:19:01,480 Speaker 1: you have to understand game theory, you have to understand technology. 380 00:19:02,000 --> 00:19:04,119 Speaker 1: I mean, there's so many different things you have to understand. 381 00:19:04,920 --> 00:19:08,760 Speaker 1: I know, you know, I've been teaching. I've been researching 382 00:19:08,880 --> 00:19:14,879 Speaker 1: and writing and teaching and using cryptocurrencies now for about 383 00:19:14,920 --> 00:19:18,479 Speaker 1: seven years. And a lot of my friends you know, obviously, 384 00:19:18,480 --> 00:19:20,760 Speaker 1: I know that I do this, and sometimes I'll get 385 00:19:20,800 --> 00:19:22,880 Speaker 1: asked by by people on social media or even people 386 00:19:22,880 --> 00:19:25,000 Speaker 1: that I know. A couple of months ago, I was 387 00:19:25,000 --> 00:19:27,000 Speaker 1: down in Mexico and we're out to dinner and one 388 00:19:27,040 --> 00:19:30,200 Speaker 1: of my buddies at the table said, hey, Mark, explain 389 00:19:30,280 --> 00:19:32,560 Speaker 1: bitcoin to me like I'm five years old, And in 390 00:19:32,600 --> 00:19:37,000 Speaker 1: two minutes. I just looked at him and I laughed, 391 00:19:37,040 --> 00:19:40,240 Speaker 1: and I'm like, dude, like sorry, man, Like I can't, 392 00:19:40,240 --> 00:19:43,399 Speaker 1: Like I can't explain to you like you're five, Like 393 00:19:43,400 --> 00:19:45,280 Speaker 1: you're five years old, and in two minutes. It doesn't 394 00:19:45,320 --> 00:19:47,040 Speaker 1: work like that, Like if you're not willing to put 395 00:19:47,040 --> 00:19:49,200 Speaker 1: the time in the effort into understand it, like you're 396 00:19:49,200 --> 00:19:51,760 Speaker 1: just you're never gonna make it. That's a symptom of 397 00:19:51,800 --> 00:19:55,040 Speaker 1: the world that we're in today. A lot of people, UM, 398 00:19:55,080 --> 00:19:57,520 Speaker 1: you know, I'm taking a lot of a lot of 399 00:19:57,560 --> 00:19:59,399 Speaker 1: information distilling it for you on this radio show, in 400 00:19:59,400 --> 00:20:01,439 Speaker 1: these podcast asked or you know, I do it on 401 00:20:01,440 --> 00:20:03,400 Speaker 1: my YouTube channel, and people look at a YouTube video 402 00:20:03,440 --> 00:20:05,280 Speaker 1: and oh, markets twenty minutes, can you can you make 403 00:20:05,280 --> 00:20:08,639 Speaker 1: it shorter? And it's like, really, I'm taking like a 404 00:20:08,720 --> 00:20:11,399 Speaker 1: PhD lesson and distilling it down into twenty minutes for you. 405 00:20:11,440 --> 00:20:13,280 Speaker 1: And if you can't take twenty minutes out of your 406 00:20:13,359 --> 00:20:15,800 Speaker 1: day to figure that out, like, you're never gonna make it. 407 00:20:16,400 --> 00:20:17,840 Speaker 1: And that's what we have going on in the world today. 408 00:20:17,880 --> 00:20:20,680 Speaker 1: Like people, um, they see the headline and they don't 409 00:20:20,720 --> 00:20:22,680 Speaker 1: even bother to read the article. And because of course, 410 00:20:23,040 --> 00:20:24,720 Speaker 1: you know, with the way the media is today with 411 00:20:24,760 --> 00:20:29,679 Speaker 1: their clickbait, um, the headlines rarely um tell you what 412 00:20:29,800 --> 00:20:32,320 Speaker 1: the article is really about. And so if you're all 413 00:20:32,320 --> 00:20:34,520 Speaker 1: you're doing is reading the headline, you're probably missing out 414 00:20:34,600 --> 00:20:37,800 Speaker 1: on on the real story. Um. And so anyway, you know, 415 00:20:37,840 --> 00:20:40,159 Speaker 1: bitcoin is a deep subject and you're gonna have to 416 00:20:40,400 --> 00:20:42,679 Speaker 1: um put some time in to figure it out. One 417 00:20:42,720 --> 00:20:45,080 Speaker 1: of the big problems that I see is especially it 418 00:20:45,119 --> 00:20:48,639 Speaker 1: seems to plague um, smarter people more, especially people smarter 419 00:20:48,640 --> 00:20:51,520 Speaker 1: people that have a lot of knowledge about economics or 420 00:20:51,560 --> 00:20:54,240 Speaker 1: the financial system. It seems to plug them more because 421 00:20:54,280 --> 00:20:55,680 Speaker 1: they're just kind of like, oh, yeah, yeah, yeah, I 422 00:20:55,720 --> 00:20:57,080 Speaker 1: get it, I get it. I get it. Sure. Sure, 423 00:20:57,400 --> 00:21:00,000 Speaker 1: It's like, no, you don't get it. They want to 424 00:21:00,119 --> 00:21:02,800 Speaker 1: grasp it. Um, they think they can grasp it so quickly, 425 00:21:03,760 --> 00:21:05,840 Speaker 1: whereas really the people that kind of come in with 426 00:21:05,920 --> 00:21:08,400 Speaker 1: no prior knowledge of that stuff seemed to almost get 427 00:21:08,400 --> 00:21:10,800 Speaker 1: it easier because they don't have to untrained themselves or 428 00:21:10,840 --> 00:21:14,639 Speaker 1: unlearned everything that they've learned before. So anyway, um, you know, 429 00:21:14,640 --> 00:21:16,719 Speaker 1: we'll be talking about a lot of different subjects from 430 00:21:16,760 --> 00:21:18,680 Speaker 1: a lot of different angles, so you can start to 431 00:21:18,760 --> 00:21:20,240 Speaker 1: kind of figure this out each and every week, and 432 00:21:20,240 --> 00:21:21,439 Speaker 1: I try to give you kind of, you know, one 433 00:21:21,480 --> 00:21:24,080 Speaker 1: good teaching lesson. Now. By the way, you're listening to 434 00:21:24,119 --> 00:21:26,920 Speaker 1: the markma Show, we're talking about bitcoin and cryptocurrencies and 435 00:21:26,920 --> 00:21:30,280 Speaker 1: the decentralized revolution, and um, we're talking about ways that 436 00:21:30,320 --> 00:21:33,440 Speaker 1: you can increase your purchasing power by increasing your US 437 00:21:33,520 --> 00:21:36,200 Speaker 1: dollar value of your cryptocurrencies. And one of the ways 438 00:21:36,200 --> 00:21:38,120 Speaker 1: that you do that is by cutting your expenses, obviously 439 00:21:38,600 --> 00:21:41,240 Speaker 1: um and and and taxes being that single biggest expense. 440 00:21:41,560 --> 00:21:44,840 Speaker 1: So I was talking about how my my my mentor 441 00:21:44,920 --> 00:21:46,919 Speaker 1: and now my friend Robert Kiyosaki has been calling me 442 00:21:46,920 --> 00:21:48,240 Speaker 1: out from stage. As a matter of fact, I was 443 00:21:48,280 --> 00:21:52,600 Speaker 1: on his podcast, UM the Robert Rich Dad Radio a 444 00:21:52,600 --> 00:21:55,320 Speaker 1: couple of months ago, and he started at it again, 445 00:21:55,960 --> 00:21:57,320 Speaker 1: any saying, why why do you have to move to 446 00:21:57,359 --> 00:21:59,200 Speaker 1: Puerto Rico to get it? You know lower taxes, don't 447 00:21:59,200 --> 00:22:00,800 Speaker 1: you know? I don't pay taxes. And what he's what 448 00:22:00,920 --> 00:22:05,720 Speaker 1: he means by that is that he doesn't sell assets 449 00:22:05,760 --> 00:22:09,040 Speaker 1: to generate a profit. And if he doesn't generate a profit, 450 00:22:09,080 --> 00:22:11,960 Speaker 1: he doesn't have to pay taxes. So what what he 451 00:22:12,040 --> 00:22:16,439 Speaker 1: does instead is he borrows against the assets, and that's 452 00:22:16,520 --> 00:22:19,680 Speaker 1: not a taxable event. So, for example, you bought a 453 00:22:19,680 --> 00:22:22,560 Speaker 1: piece of real estate for a hundred thousand dollars, you're 454 00:22:22,560 --> 00:22:24,399 Speaker 1: renting it out. You're making a little bit of profit 455 00:22:24,440 --> 00:22:26,160 Speaker 1: every month. You're making a couple hundred bucks a month 456 00:22:26,160 --> 00:22:28,000 Speaker 1: on the rent. After you pay your mortgage off and 457 00:22:28,320 --> 00:22:31,040 Speaker 1: things are good. You've owned it for several years, five years, 458 00:22:31,040 --> 00:22:32,600 Speaker 1: ten years. Next thing, you know, the house worth two 459 00:22:32,880 --> 00:22:35,560 Speaker 1: d thoud dollars. Now you have two choices. One, you 460 00:22:35,560 --> 00:22:37,680 Speaker 1: could well have three choices. I guess one you could 461 00:22:37,680 --> 00:22:41,800 Speaker 1: do nothing, but but you could sell the house and 462 00:22:42,080 --> 00:22:46,119 Speaker 1: you would owe taxes on the profit. Um. So you 463 00:22:46,160 --> 00:22:48,240 Speaker 1: sell it for a hundred dollars, you know, you you 464 00:22:48,240 --> 00:22:50,920 Speaker 1: bought it for a a hundred thousand, for hundred thousands profit, 465 00:22:51,119 --> 00:22:52,680 Speaker 1: and you have to give let's say, you know, thirty 466 00:22:52,800 --> 00:22:56,720 Speaker 1: forty grand of that to the government. Or what you 467 00:22:56,760 --> 00:23:00,800 Speaker 1: could do is you could rEFInd nance the house or 468 00:23:00,840 --> 00:23:03,240 Speaker 1: take out a home equity line against the house, and 469 00:23:03,320 --> 00:23:06,040 Speaker 1: you could just pull equity out of the house. And 470 00:23:06,160 --> 00:23:09,760 Speaker 1: that's not a taxable event. So now I can take 471 00:23:09,760 --> 00:23:11,760 Speaker 1: the Huntergrund out of the house through some sort of 472 00:23:11,800 --> 00:23:13,680 Speaker 1: a loan, and I don't have to pay tax on 473 00:23:13,680 --> 00:23:18,040 Speaker 1: the Huntergrund and I still have the house. I didn't 474 00:23:18,080 --> 00:23:20,240 Speaker 1: have to sell the house. And so that's what that's 475 00:23:20,240 --> 00:23:23,560 Speaker 1: what the rich do. They find trophy assets. Trophy assets 476 00:23:23,560 --> 00:23:26,639 Speaker 1: are scarce assets that are going to continue to go 477 00:23:26,720 --> 00:23:30,040 Speaker 1: up in value and they hold them forever. So the 478 00:23:30,040 --> 00:23:32,840 Speaker 1: people that bought, you know, man a block of Manhattan 479 00:23:32,880 --> 00:23:35,120 Speaker 1: real estate in New York, right for example, and they 480 00:23:35,200 --> 00:23:38,240 Speaker 1: just passed that down from family, you know, generation generation generation. 481 00:23:38,280 --> 00:23:41,760 Speaker 1: They just never sell it. It's a trophy asset right now. 482 00:23:41,840 --> 00:23:44,320 Speaker 1: If you're in the middle of of of I don't know, 483 00:23:44,440 --> 00:23:48,000 Speaker 1: North Dakota or Kansas or whatever, maybe it's not as scarce. 484 00:23:48,359 --> 00:23:52,560 Speaker 1: But in Austin, Texas, for example, like Lake Travis Um, 485 00:23:52,560 --> 00:23:55,960 Speaker 1: there's only so many homes around the lake, very rare, 486 00:23:56,200 --> 00:23:59,760 Speaker 1: very scarce. And you have all these fortune companies moving 487 00:24:00,160 --> 00:24:04,720 Speaker 1: Silicon Valley to Text to Austin, and those people make 488 00:24:04,760 --> 00:24:06,920 Speaker 1: fifty million or a hundred million dollars a year or 489 00:24:06,920 --> 00:24:09,760 Speaker 1: whatever they're making, and they don't care if that house 490 00:24:09,760 --> 00:24:11,720 Speaker 1: on the lake is one million or two million, what 491 00:24:11,800 --> 00:24:13,520 Speaker 1: do they care. I don't care if it's five million 492 00:24:13,600 --> 00:24:15,280 Speaker 1: or ten million. They're making fifty million a year, right 493 00:24:15,600 --> 00:24:17,560 Speaker 1: And so we've seen I have a buddy down there 494 00:24:18,000 --> 00:24:20,080 Speaker 1: and he bought a house on the lake a year 495 00:24:20,119 --> 00:24:23,240 Speaker 1: ago for ten million and recently sold it for twenty 496 00:24:23,240 --> 00:24:26,159 Speaker 1: two million in one year. Because it's scarce now, it 497 00:24:26,160 --> 00:24:27,760 Speaker 1: would have been better if you didn't sell it. And 498 00:24:27,800 --> 00:24:29,919 Speaker 1: so that's what I'm talking about, a scarce asset. And 499 00:24:29,960 --> 00:24:33,119 Speaker 1: that's what cryptocurrencies are, right Bitcoin there's only twenty one million. 500 00:24:33,119 --> 00:24:35,800 Speaker 1: There will never be more than twenty one million um 501 00:24:35,840 --> 00:24:38,639 Speaker 1: when you calculate in what's been lost, which there's no 502 00:24:38,680 --> 00:24:41,879 Speaker 1: way for us to know, but you know, some reasonable 503 00:24:42,640 --> 00:24:45,760 Speaker 1: guestimations say that we'll probably really never have more than 504 00:24:45,840 --> 00:24:49,560 Speaker 1: seventeen or eighteen million bitcoin in circulation because so many 505 00:24:49,600 --> 00:24:52,520 Speaker 1: have already been lost. But let's take the full number 506 00:24:52,520 --> 00:24:56,000 Speaker 1: of just twenty one million. Today in the world, we 507 00:24:56,080 --> 00:25:02,880 Speaker 1: have over fifty million millionaires, over fifty million millionaires. There's 508 00:25:02,920 --> 00:25:05,840 Speaker 1: only twenty one million bitcoin, So there's not even enough 509 00:25:05,840 --> 00:25:10,119 Speaker 1: bitcoin for all the millionaires to even own half of one. 510 00:25:10,560 --> 00:25:13,120 Speaker 1: That's how scarce it is. And then you guys got 511 00:25:13,119 --> 00:25:15,479 Speaker 1: You got guys like Michael Sailor from the CEO of 512 00:25:15,480 --> 00:25:19,719 Speaker 1: micro Strategy, who's bought over a hundred thousand of them. 513 00:25:19,760 --> 00:25:23,080 Speaker 1: He's taken a hundred thousand for himself, So there's a no, 514 00:25:23,200 --> 00:25:26,280 Speaker 1: there's a hundred thousand more millionaires that can't ever get 515 00:25:26,320 --> 00:25:28,760 Speaker 1: any bitcoin. That's how scarce it is. And so you 516 00:25:28,760 --> 00:25:30,439 Speaker 1: can buy it. You can buy a trophy asset like 517 00:25:30,480 --> 00:25:34,040 Speaker 1: bitcoin that's scarce, and you just own it forever and 518 00:25:34,080 --> 00:25:36,520 Speaker 1: you don't ever sell it. If I don't sell it, 519 00:25:36,680 --> 00:25:38,720 Speaker 1: I don't owe taxes on it, and I still have 520 00:25:38,720 --> 00:25:42,000 Speaker 1: the ast to cope and value and that's great. But Mark, 521 00:25:43,040 --> 00:25:45,080 Speaker 1: why would I buy an asset that all goes goes 522 00:25:45,119 --> 00:25:46,480 Speaker 1: up in value and I never sell it? How do 523 00:25:46,560 --> 00:25:49,080 Speaker 1: I unlock that profit? How do I use it? Well, 524 00:25:49,680 --> 00:25:52,199 Speaker 1: there's a very simple way to do that, just like 525 00:25:52,200 --> 00:25:54,359 Speaker 1: the house example, like Robert Kiyosaki talks about it, I 526 00:25:54,400 --> 00:25:56,600 Speaker 1: can borrow against my bitcoin. I can take a loan 527 00:25:56,640 --> 00:26:00,760 Speaker 1: against it, and so I would Basically, you know, my 528 00:26:00,760 --> 00:26:03,240 Speaker 1: my bitcoin went up. I bought it for ten thousand, 529 00:26:03,240 --> 00:26:05,960 Speaker 1: it's worth sixty to day, I bought a hundred thousand 530 00:26:05,960 --> 00:26:08,920 Speaker 1: dollars worth a bitcoin. It's worth um, you know, three 531 00:26:08,960 --> 00:26:12,240 Speaker 1: million dollars today or whatever. And instead of selling let's 532 00:26:12,240 --> 00:26:13,560 Speaker 1: say that I wanted to buy a house, I needed 533 00:26:13,560 --> 00:26:15,720 Speaker 1: five hundred thousand dollars down as a down payment for 534 00:26:15,720 --> 00:26:20,600 Speaker 1: the house. Instead of selling um a million dollars of 535 00:26:20,640 --> 00:26:24,359 Speaker 1: bitcoin and then paying tax on it, not having the 536 00:26:24,400 --> 00:26:26,760 Speaker 1: million dollars bitcoin anymore, paying attacks and then then I 537 00:26:26,840 --> 00:26:28,960 Speaker 1: end up with my five thousand, what I could do 538 00:26:29,000 --> 00:26:32,480 Speaker 1: instead is just borrow the five thousand dollars against it, 539 00:26:33,080 --> 00:26:36,000 Speaker 1: five dollars against it, and I don't have to pay 540 00:26:36,000 --> 00:26:39,000 Speaker 1: the tax, and I still have the million dollars worth 541 00:26:39,000 --> 00:26:42,880 Speaker 1: of bitcoin to continue to go up in value. See 542 00:26:42,920 --> 00:26:46,480 Speaker 1: how that works? Now, I know now you have to 543 00:26:46,480 --> 00:26:51,440 Speaker 1: pay interest on the loan. How does that work? Um? 544 00:26:51,560 --> 00:26:54,600 Speaker 1: How I mean, how can you continue that going forward? 545 00:26:54,640 --> 00:26:56,080 Speaker 1: What happens with the debt eventually? I mean, these are 546 00:26:56,119 --> 00:26:58,800 Speaker 1: all great questions. These are all great questions that I 547 00:26:58,880 --> 00:27:02,159 Speaker 1: want to answer for because it's actually pretty simple. Um, 548 00:27:02,160 --> 00:27:04,080 Speaker 1: that's a pretty simple plan. And I have a formula 549 00:27:04,119 --> 00:27:06,120 Speaker 1: that I've broken down and I'm gonna lay that out 550 00:27:06,160 --> 00:27:08,159 Speaker 1: for you, and I can tell you how much what 551 00:27:08,240 --> 00:27:10,600 Speaker 1: we're expecting in the future, how much you can borrow, 552 00:27:10,840 --> 00:27:12,960 Speaker 1: how you manage that payment, and what you ultimately do 553 00:27:13,000 --> 00:27:15,560 Speaker 1: with the debt. Like I said, it's not that complicated, 554 00:27:16,040 --> 00:27:17,439 Speaker 1: but you kind of have to know the strategies. I 555 00:27:17,440 --> 00:27:19,639 Speaker 1: want to break that down all right now. By the way, 556 00:27:19,680 --> 00:27:21,760 Speaker 1: you're listening to the Mark Mass Show, which, of course, 557 00:27:22,200 --> 00:27:23,680 Speaker 1: if you're just tuning in and you don't know, we're 558 00:27:23,680 --> 00:27:26,720 Speaker 1: talking about bitcoin, we're talking about cryptocurrencies. We're talking about 559 00:27:26,960 --> 00:27:30,600 Speaker 1: the decentralized revolution that is going on that we're living through, 560 00:27:30,720 --> 00:27:35,800 Speaker 1: that we're witnessing. Let's kind of bring massive massive, massive 561 00:27:35,880 --> 00:27:40,400 Speaker 1: hope and prosperity to the world. UM and it likes 562 00:27:40,440 --> 00:27:42,359 Speaker 1: that the world has never seen it's gonna be that big. 563 00:27:42,800 --> 00:27:44,720 Speaker 1: So I want to talk to you more about how 564 00:27:44,840 --> 00:27:47,399 Speaker 1: we can hold those trophy assets, never sell them, but 565 00:27:47,480 --> 00:27:50,320 Speaker 1: still unlock the profit out of them. So don't go away. 566 00:27:50,359 --> 00:27:52,359 Speaker 1: I'll be right back, all right, welcome back. You are 567 00:27:52,400 --> 00:27:54,440 Speaker 1: listening to the Mark Ma Show where we're talking about 568 00:27:54,440 --> 00:27:57,919 Speaker 1: bitcoin and we're talking about cryptocurrencies, and we are talking 569 00:27:57,960 --> 00:28:02,240 Speaker 1: about the decentralized revel lution we're living through right now. 570 00:28:03,600 --> 00:28:07,280 Speaker 1: And I've been talking about ways that you can increase 571 00:28:07,440 --> 00:28:12,320 Speaker 1: your money, increase your dollar stack, increase your purchasing power 572 00:28:12,920 --> 00:28:14,919 Speaker 1: and UM the high level. To catch you up if 573 00:28:14,920 --> 00:28:17,160 Speaker 1: you're just tuning in, by the way, thanks for tuning in. 574 00:28:17,440 --> 00:28:19,800 Speaker 1: Make sure to bookmark me at this time in this 575 00:28:19,880 --> 00:28:21,440 Speaker 1: channel so you can come back each and every week, 576 00:28:21,760 --> 00:28:23,960 Speaker 1: which will be the most profitable part of every week 577 00:28:23,960 --> 00:28:26,919 Speaker 1: that you that you have. UM. But just catch up 578 00:28:26,960 --> 00:28:29,560 Speaker 1: real quick. I was talking about how the way that 579 00:28:29,600 --> 00:28:31,720 Speaker 1: the wealthy really build wealth, the way that they really 580 00:28:31,720 --> 00:28:34,439 Speaker 1: build UM, you know, get rich for generations, is they 581 00:28:34,520 --> 00:28:36,760 Speaker 1: buy trophy assets and they just never sell them, Like 582 00:28:36,960 --> 00:28:40,280 Speaker 1: Manhattan real estate or lake front property in Lake Travis 583 00:28:40,280 --> 00:28:42,440 Speaker 1: in Austin, Texas. And they buy trophy assets and they 584 00:28:42,480 --> 00:28:43,760 Speaker 1: just never sell them and they pass them down to 585 00:28:43,760 --> 00:28:46,440 Speaker 1: from generation to generation. And if they want to get 586 00:28:46,520 --> 00:28:49,720 Speaker 1: some of the money out to buy something else, they 587 00:28:49,760 --> 00:28:53,320 Speaker 1: can borrow against the asset. Now, this is not new 588 00:28:53,360 --> 00:28:56,840 Speaker 1: to cryptocurrencies. Um. You can borrow against your house and 589 00:28:56,840 --> 00:29:00,560 Speaker 1: pull equity out of your house. Most banks, like else Fargo, 590 00:29:00,680 --> 00:29:04,880 Speaker 1: will loan you money against your stock portfolio. Um. Certain 591 00:29:04,920 --> 00:29:08,200 Speaker 1: stockbrokers like Interactive Brokers for example, will loan you up 592 00:29:08,200 --> 00:29:12,160 Speaker 1: to against your stocks in your account. UM. And you 593 00:29:12,160 --> 00:29:14,440 Speaker 1: can borrow against your bitcoin too. Right, It's it's an asset. 594 00:29:14,480 --> 00:29:16,440 Speaker 1: You can borrow against pretty much any asset that you have. 595 00:29:16,520 --> 00:29:19,920 Speaker 1: It's not it's not new and unique to cryptocurrencies. A 596 00:29:19,960 --> 00:29:22,120 Speaker 1: lot of people, UM, when I've explained this to them, 597 00:29:22,120 --> 00:29:24,600 Speaker 1: they're like, oh, Mark, the governments will never allow you 598 00:29:24,640 --> 00:29:27,360 Speaker 1: to continue to borrow against your bitcoin. And it's like really, 599 00:29:27,400 --> 00:29:30,600 Speaker 1: because you can borrow against any asset, like you pledge 600 00:29:30,640 --> 00:29:32,560 Speaker 1: the asset as collateral and people oan your money. I mean, 601 00:29:32,560 --> 00:29:34,920 Speaker 1: it's just not it's not a new concept. But for 602 00:29:34,960 --> 00:29:36,800 Speaker 1: some reason people think it's a new concept of this, 603 00:29:36,840 --> 00:29:38,560 Speaker 1: but it is a new strategy you can apply, and 604 00:29:38,600 --> 00:29:41,240 Speaker 1: it's one that you should apply to trophy assets like 605 00:29:41,400 --> 00:29:45,800 Speaker 1: bitcoin that are that are very scarce. And so going 606 00:29:45,840 --> 00:29:49,440 Speaker 1: back to this UM example, what we're doing is is 607 00:29:49,480 --> 00:29:51,360 Speaker 1: you're buying the bitcoin. As I said, if you if 608 00:29:51,360 --> 00:29:53,080 Speaker 1: you bought some bitcoin, you bought you know, a hundred 609 00:29:53,040 --> 00:29:55,600 Speaker 1: thousand dollars worth about now it's worth you know, a 610 00:29:55,640 --> 00:29:57,440 Speaker 1: couple of million bucks. You want five grand to put 611 00:29:57,480 --> 00:30:00,920 Speaker 1: down on a house. You could sell you eight hundred 612 00:30:01,200 --> 00:30:03,240 Speaker 1: thousand a million dollars with a bitcoin, pay your taxes 613 00:30:03,240 --> 00:30:04,840 Speaker 1: on it, and then end up with the five grand. 614 00:30:05,400 --> 00:30:07,400 Speaker 1: But then now you don't have that million dollars bito anymore. 615 00:30:07,520 --> 00:30:10,240 Speaker 1: Or you could just borrow the five grand against the bitcoin, 616 00:30:10,320 --> 00:30:13,320 Speaker 1: don't pay taxes because it's not a taxable event um, 617 00:30:13,360 --> 00:30:14,800 Speaker 1: and then you still have the million dollars a bitcoin 618 00:30:14,840 --> 00:30:19,000 Speaker 1: to go up in value. Now, there's a few strategies 619 00:30:19,000 --> 00:30:20,600 Speaker 1: to this. Now, the first thing you have to understand 620 00:30:20,720 --> 00:30:24,720 Speaker 1: is um, you obviously have to understand bitcoin and you 621 00:30:24,760 --> 00:30:27,120 Speaker 1: have to believe that it's going to continue to go 622 00:30:27,200 --> 00:30:30,120 Speaker 1: up in value. UM. If you borrow against it and 623 00:30:30,120 --> 00:30:33,160 Speaker 1: it goes down in value, then they may liquidate some 624 00:30:33,240 --> 00:30:36,560 Speaker 1: of your your bitcoin because you've pledged it as collateral. 625 00:30:36,600 --> 00:30:38,440 Speaker 1: They may liquidates, they may sell some of it to 626 00:30:38,520 --> 00:30:40,800 Speaker 1: pay off some of that debt, which isn't in the 627 00:30:40,880 --> 00:30:42,720 Speaker 1: end of the world, because it would have been no 628 00:30:42,720 --> 00:30:43,960 Speaker 1: different than if you would have sold it in the 629 00:30:43,960 --> 00:30:47,720 Speaker 1: first place, right, So you're not really any worse off. Um. However, 630 00:30:48,880 --> 00:30:52,560 Speaker 1: I believe that bitcoin is gonna continue going up, and 631 00:30:52,600 --> 00:30:53,920 Speaker 1: so let's talk about that, and then we'll get a 632 00:30:53,960 --> 00:30:55,400 Speaker 1: little bit more into the strategy, because you kind of 633 00:30:55,720 --> 00:30:57,600 Speaker 1: have to understand this a little bit better first. So 634 00:30:58,920 --> 00:31:01,240 Speaker 1: so far, bitcoin has been the best performing asset in 635 00:31:01,240 --> 00:31:03,800 Speaker 1: the history of the world. It's averaged about a two 636 00:31:03,920 --> 00:31:10,160 Speaker 1: hundred percent compounded annual growth rate for the last eleven years. UM. 637 00:31:10,400 --> 00:31:12,360 Speaker 1: A lot of people think bigcoin is volatile. The price 638 00:31:12,360 --> 00:31:15,280 Speaker 1: goes up and down, and it's it's not a good 639 00:31:15,320 --> 00:31:17,920 Speaker 1: store of value, many people say. And they say it's 640 00:31:17,960 --> 00:31:19,680 Speaker 1: not a good store of value because it's so volatile, 641 00:31:19,720 --> 00:31:21,680 Speaker 1: the price is always going up and down. But the 642 00:31:21,680 --> 00:31:24,440 Speaker 1: reality is if you zoom out and you look at 643 00:31:24,480 --> 00:31:26,600 Speaker 1: it over a long period of time, and you look 644 00:31:26,640 --> 00:31:29,960 Speaker 1: at the lowest price every single year, the lowest price, 645 00:31:30,000 --> 00:31:32,720 Speaker 1: it's ever reached. Each year, you'll see that every year 646 00:31:32,880 --> 00:31:35,680 Speaker 1: the lowest price has been higher than the year before, 647 00:31:36,440 --> 00:31:39,320 Speaker 1: except for one time is the only year that the 648 00:31:39,360 --> 00:31:41,920 Speaker 1: low was lower than the year before. That's the only 649 00:31:42,000 --> 00:31:43,960 Speaker 1: year out of all the years in history, it's always 650 00:31:43,960 --> 00:31:46,800 Speaker 1: been up. Now, it goes up and down within the year, 651 00:31:46,880 --> 00:31:51,320 Speaker 1: but it's always continuing to march higher. Now. I bet 652 00:31:51,320 --> 00:31:52,920 Speaker 1: you would have been wished you would have been listening 653 00:31:52,920 --> 00:31:54,560 Speaker 1: to the show a long time ago, because I've been 654 00:31:54,600 --> 00:31:56,640 Speaker 1: pounding the table telling people to buy a bitcoin since 655 00:31:56,680 --> 00:31:59,120 Speaker 1: it was like three four hundred bucks. Some of my 656 00:31:59,160 --> 00:32:00,959 Speaker 1: friends I was telling to buy it a four thousand, 657 00:32:01,040 --> 00:32:03,239 Speaker 1: five thousand, and then it dipped to three thousand. They 658 00:32:03,240 --> 00:32:07,719 Speaker 1: got mad at me. I'm like, look, guys, zoom out, like, 659 00:32:07,840 --> 00:32:09,400 Speaker 1: I know, you bought it at four thousand and went 660 00:32:09,400 --> 00:32:12,880 Speaker 1: to three thousand, and you lost your US dollar value. 661 00:32:13,000 --> 00:32:14,760 Speaker 1: So what it's gonna be worth a lot of money 662 00:32:14,800 --> 00:32:17,080 Speaker 1: one day? Uh. And so some of them got mad 663 00:32:17,120 --> 00:32:20,080 Speaker 1: and they sold and you know whatever, but they were 664 00:32:20,080 --> 00:32:21,920 Speaker 1: mad at dropped to three thousand. I mean, how lucky 665 00:32:22,040 --> 00:32:23,360 Speaker 1: or how how happy would you be to buy it 666 00:32:23,440 --> 00:32:25,560 Speaker 1: three thousand when it's sitting at fifty six thousand today. 667 00:32:26,080 --> 00:32:27,960 Speaker 1: So the first thing you have to understand is that, yes, 668 00:32:28,000 --> 00:32:29,880 Speaker 1: it's voluntile, meaning in the short term it goes up 669 00:32:29,880 --> 00:32:31,160 Speaker 1: and down a lot, which is why I say it's 670 00:32:31,200 --> 00:32:33,680 Speaker 1: kind of a distraction. But if you zoom out, it 671 00:32:33,680 --> 00:32:36,440 Speaker 1: goes up. Now can it what rate can it continue 672 00:32:36,440 --> 00:32:39,240 Speaker 1: to go up at? Well, if you were looking at 673 00:32:39,240 --> 00:32:41,800 Speaker 1: any asset and trying to understand how much value can accrue, 674 00:32:41,840 --> 00:32:44,360 Speaker 1: you look at what markets is disrupting and how much 675 00:32:44,360 --> 00:32:46,840 Speaker 1: of that market share can it pull in? And so 676 00:32:47,480 --> 00:32:50,280 Speaker 1: I would say that very easily we could see it 677 00:32:50,320 --> 00:32:53,920 Speaker 1: getting into five hundred thousand dollars per bitcoin in the 678 00:32:53,960 --> 00:32:57,400 Speaker 1: next five years. That's based off some super simple calculations. 679 00:32:57,480 --> 00:32:59,520 Speaker 1: Like right now, we're starting to see as I mentioned 680 00:32:59,520 --> 00:33:03,240 Speaker 1: micro Streight, a G SMP five companies like that moving 681 00:33:03,320 --> 00:33:07,280 Speaker 1: part of their treasury. They're they're savings into bitcoin um. 682 00:33:07,320 --> 00:33:10,400 Speaker 1: Some of them are putting in bitcoin UM. Cathy would 683 00:33:10,440 --> 00:33:14,120 Speaker 1: from ARC Finance, our ARC, the e t F, the 684 00:33:14,160 --> 00:33:16,440 Speaker 1: tech at e TF. She said that if if the 685 00:33:16,480 --> 00:33:19,520 Speaker 1: SMP five companies would just put only five per cent 686 00:33:19,880 --> 00:33:22,760 Speaker 1: of their savings into bitcoin, we can see the price 687 00:33:22,800 --> 00:33:24,800 Speaker 1: shoot up to five d So I think that's I 688 00:33:24,840 --> 00:33:28,520 Speaker 1: think that's totally possible. Um, that's a ten x roughly 689 00:33:28,560 --> 00:33:30,040 Speaker 1: a ten x from here in the next five years. 690 00:33:30,440 --> 00:33:32,840 Speaker 1: But but but that's that's only the beginning. Um. Then 691 00:33:32,840 --> 00:33:35,400 Speaker 1: it can start pulling in you know money, you know, 692 00:33:35,520 --> 00:33:39,320 Speaker 1: value from currencies from gold goals about thirteen trillion dollars. 693 00:33:39,320 --> 00:33:41,200 Speaker 1: It can take all that thirteen trillion dollars. That's a 694 00:33:41,240 --> 00:33:44,280 Speaker 1: thirteen x from here. Um, we could see it start 695 00:33:44,320 --> 00:33:46,720 Speaker 1: pulling in money. There's there's a thirty to forty trillions 696 00:33:46,760 --> 00:33:48,960 Speaker 1: in a off four bank accounts right now. Is definitely 697 00:33:48,960 --> 00:33:50,360 Speaker 1: better than an off for a bank account. So we 698 00:33:50,400 --> 00:33:52,840 Speaker 1: could see a pull in thirty to forty trilling from there. Uh. 699 00:33:52,880 --> 00:33:54,280 Speaker 1: And then then you have a lot of people that 700 00:33:54,280 --> 00:33:56,560 Speaker 1: have been buying real estate, for example, because they know 701 00:33:56,600 --> 00:34:00,320 Speaker 1: their currencies you know, devaluing super fast, and so a 702 00:34:00,320 --> 00:34:02,280 Speaker 1: lot of people would probably rather not have to buy 703 00:34:02,360 --> 00:34:04,760 Speaker 1: real estate and they might rather buy goldspeople pull something 704 00:34:04,800 --> 00:34:06,960 Speaker 1: from that, pull some from stocks. A lot of people 705 00:34:07,000 --> 00:34:08,960 Speaker 1: are gambling the stock market. It could pull money from that. 706 00:34:09,120 --> 00:34:11,239 Speaker 1: I mean, it could very easily get to three million 707 00:34:11,239 --> 00:34:13,359 Speaker 1: dollars um. You know, as as a as a market 708 00:34:13,400 --> 00:34:14,799 Speaker 1: cap for the whole market cap, which is a two 709 00:34:14,800 --> 00:34:19,960 Speaker 1: to three x from here. And so obviously nothing in 710 00:34:20,000 --> 00:34:22,799 Speaker 1: life is guaranteed. UM. And and that's certainly not a 711 00:34:23,080 --> 00:34:25,440 Speaker 1: d certain that that's going to happen, but but it 712 00:34:25,520 --> 00:34:27,279 Speaker 1: but it could. I mean, that's the trajectory that we're on. 713 00:34:27,960 --> 00:34:30,160 Speaker 1: And so UM as long as it continues going up 714 00:34:30,200 --> 00:34:32,920 Speaker 1: more than the rate you're borrowing. So for example, if 715 00:34:32,920 --> 00:34:35,279 Speaker 1: you were to borrow let's say five percent, so you 716 00:34:35,360 --> 00:34:37,520 Speaker 1: let's say you have a hundred thousand dollars worth a 717 00:34:37,560 --> 00:34:41,080 Speaker 1: bitcoin today, you leave that parked maybe in the next 718 00:34:41,120 --> 00:34:44,080 Speaker 1: five years, that's worth three million bucks. In three million 719 00:34:44,160 --> 00:34:47,000 Speaker 1: US dollars um, you borrow let's say five percent of 720 00:34:47,000 --> 00:34:49,440 Speaker 1: that UM. And you you know, with a hundred thousand dollars, 721 00:34:49,840 --> 00:34:53,840 Speaker 1: you borrow a little bit extra to cover the interest, 722 00:34:54,040 --> 00:34:57,760 Speaker 1: the payments, and you have some set aside for the payments, 723 00:34:57,760 --> 00:34:59,000 Speaker 1: and then you have a hundred thousand dollars you can 724 00:34:59,040 --> 00:35:00,440 Speaker 1: just live on. You can pay your bill, pay your 725 00:35:00,480 --> 00:35:04,200 Speaker 1: living expenses, and live off that money and it's tax free. Now, UM, 726 00:35:04,280 --> 00:35:06,000 Speaker 1: you borrowed five percent. Now, as long as it goes 727 00:35:06,040 --> 00:35:07,640 Speaker 1: up by more than that the next year, you do 728 00:35:07,719 --> 00:35:10,080 Speaker 1: the same thing. So if it goes up another fifty percent, 729 00:35:10,160 --> 00:35:13,120 Speaker 1: the next year, then you borrow another five percent, and 730 00:35:13,160 --> 00:35:15,799 Speaker 1: you borrow a little bit extra, some pays pays off 731 00:35:15,840 --> 00:35:18,839 Speaker 1: the loan from the year before, and then you live 732 00:35:18,880 --> 00:35:21,479 Speaker 1: off the rest and there's no taxes because you're borrowing money. 733 00:35:21,719 --> 00:35:23,080 Speaker 1: And then as long as it goes up by more 734 00:35:23,120 --> 00:35:24,520 Speaker 1: than five percent the next year, which it goes up 735 00:35:24,520 --> 00:35:29,759 Speaker 1: by the next year, you borrow five percent again, and 736 00:35:29,800 --> 00:35:32,279 Speaker 1: as long as it continues going up by more than 737 00:35:32,280 --> 00:35:35,440 Speaker 1: the amount you're borrowing, you can essentially do that forever. 738 00:35:38,080 --> 00:35:41,840 Speaker 1: Pretty interesting, right now what happens with the debt? Eventually, 739 00:35:42,239 --> 00:35:44,960 Speaker 1: when nothing happens with the debt, you die. You die 740 00:35:44,960 --> 00:35:47,279 Speaker 1: with debt at the end when you die and you 741 00:35:47,280 --> 00:35:48,879 Speaker 1: pass it down to your kids, you end up with 742 00:35:48,920 --> 00:35:51,120 Speaker 1: ten million dollars a bitcoin and you owe two or 743 00:35:51,160 --> 00:35:55,480 Speaker 1: three million dollars of debt. So what just keep rolling 744 00:35:55,520 --> 00:35:58,279 Speaker 1: the debt? Now you could obviously liquidate some and pay 745 00:35:58,320 --> 00:36:00,360 Speaker 1: the debt, but now you don't have that asset to 746 00:36:00,440 --> 00:36:04,000 Speaker 1: keep going up in value. And so eventually, you know, 747 00:36:04,040 --> 00:36:06,520 Speaker 1: your kids when they're old, they have thirty or forty 748 00:36:06,520 --> 00:36:08,919 Speaker 1: million dollars with a bitcoin and they owe seven million 749 00:36:08,960 --> 00:36:11,719 Speaker 1: dollars a debt, So what right, you can just keep 750 00:36:11,840 --> 00:36:13,160 Speaker 1: rulling it over and over and over. And I know 751 00:36:13,200 --> 00:36:14,720 Speaker 1: this is a different concept, and I know it probably 752 00:36:14,719 --> 00:36:18,480 Speaker 1: blows your mind. Um, but it's not that complicated. This 753 00:36:18,520 --> 00:36:19,920 Speaker 1: is how people do it. This is how the rich 754 00:36:20,080 --> 00:36:22,920 Speaker 1: really build wealth, and you can too. I like to 755 00:36:22,960 --> 00:36:26,319 Speaker 1: say that success leaves clues. What does that mean. That 756 00:36:26,320 --> 00:36:29,560 Speaker 1: means if you find other successful people and you can 757 00:36:29,560 --> 00:36:30,920 Speaker 1: figure out what are the things that they did to 758 00:36:30,960 --> 00:36:35,000 Speaker 1: become successful, and then you do the same things, then 759 00:36:35,080 --> 00:36:39,040 Speaker 1: you should have about the same results. Right. So that 760 00:36:39,080 --> 00:36:41,239 Speaker 1: means if you if you if you um at a 761 00:36:41,680 --> 00:36:44,160 Speaker 1: at a young age, if you got um an Arnold 762 00:36:44,160 --> 00:36:46,799 Speaker 1: Schwartzenegger's work out and diet routine and you did the 763 00:36:46,800 --> 00:36:50,319 Speaker 1: exact same workout, exact same food as you grew up, 764 00:36:50,840 --> 00:36:53,440 Speaker 1: you may not be quite as big and strong as 765 00:36:53,440 --> 00:36:55,840 Speaker 1: a Honlord Swartzenegger got and broke all those records. However, 766 00:36:56,160 --> 00:36:59,040 Speaker 1: she'd be pretty dang big, right, And so that's what 767 00:36:59,080 --> 00:37:01,239 Speaker 1: I mean. Success leaves This is what the successful people 768 00:37:01,239 --> 00:37:04,200 Speaker 1: are doing. This is what people like Robert Kiyosaki are doing, 769 00:37:04,400 --> 00:37:06,560 Speaker 1: and this is something that you can do as well. 770 00:37:06,719 --> 00:37:08,879 Speaker 1: Now you listen to the Mark Moa show. We're talking 771 00:37:08,880 --> 00:37:12,520 Speaker 1: about bitcoin and cryptocurrencies and the decentralized revolution. I am 772 00:37:12,560 --> 00:37:15,400 Speaker 1: a teacher, I'm an educator. I am not a tax professional. 773 00:37:15,560 --> 00:37:18,799 Speaker 1: So take this information and go discuss it with your 774 00:37:18,920 --> 00:37:21,359 Speaker 1: tax professional. See if it's right for you, See if 775 00:37:21,360 --> 00:37:24,799 Speaker 1: he can help you implement that. But it is being 776 00:37:24,840 --> 00:37:26,720 Speaker 1: done by the people. Thanks for listening.