Speaker 1: Hello, and welcome to another episode of The Mark ma Show,
Speaker 1: where I am talking about Yes, bitcoin, if you didn't
Speaker 1: know already, we're talking about bitcoin, We're talking about cryptocurrencies.
Speaker 1: We are talking about this decentralized revolution that is happening
Speaker 1: right now. We're literally witnessing it. You know, I get
Speaker 1: asked a lot of times like is there going to
Speaker 1: be a revolution? When is the revolution going to be?
Speaker 1: Like it's like some event, like some date in time.
Speaker 1: I think you can market on your calendar and know
Speaker 1: what's happening. But the reality is we're we're in it,
Speaker 1: we're living it, we're witnessing it. And I think if
Speaker 1: you can kind of step back and just kind of
Speaker 1: appreciate and look at some of the signs, um, we're
Speaker 1: living through a historic moment in time. I mean, I
Speaker 1: think if in the future, fifty years from now, history
Speaker 1: books will be written about things that are going on,
Speaker 1: and if you're not paying attention, it could end up
Speaker 1: not being so good for you. But if you are
Speaker 1: paying attention, it could be one of the best times
Speaker 1: of your life. We're gonna be witnessing one of the
Speaker 1: largest wealth transfers in history, and the only question for
Speaker 1: you is which side do you want to be on
Speaker 1: the side that gives up your wealth to the side
Speaker 1: that gets your wealth. Now I already know what side
Speaker 1: I want to be on. I'm gonna be on the
Speaker 1: receiving end, and hopefully you are. For what I've been
Speaker 1: saying is the largest asymmetric That the largest asymmetric opportunity
Speaker 1: of your lifetime. And you take advantage of that by
Speaker 1: having asymmetric information, which is information most people don't have,
Speaker 1: which is why I need to be tuning in with
Speaker 1: me each end every week on this channel. So I
Speaker 1: got some really good stuff today we're gonna be talking about.
Speaker 1: I'm gonna give you two strategies that could maximize your
Speaker 1: returns on your cryptocurrencies. I'm sure everybody likes that. Now.
Speaker 1: I do often say that, um, the price is a distraction, right,
Speaker 1: We should be looking at the growth of the network
Speaker 1: and the development on the network, which we'll talk about.
Speaker 1: But you know, the price is also good to we
Speaker 1: all like to see our purchasing power increasing. I like
Speaker 1: to say that it's a bait and switch. We get
Speaker 1: baited in by the price and then we get switched
Speaker 1: into the power of the technology. So since we're gonna
Speaker 1: talk about price, We're gonna talk about returns, We're gonna
Speaker 1: talk about increasing our purchasing power. I want to give
Speaker 1: you two strategies that you can use between now and
Speaker 1: the end of the year to make even more money. Now,
Speaker 1: raise your hand if you want to make mormining. I'm
Speaker 1: just kidding. I can't see you raise in your hand.
Speaker 1: But I'm gonna give you those two things, and then
Speaker 1: we'll talk about some of the other other factors. So
Speaker 1: I got a big, big, big show for you today,
Speaker 1: some important stuff that you're gonna want to pay attention to.
Speaker 1: So before I do that, I just want to remind you.
Speaker 1: Go ahead and just pull out your phone real quick. No,
Speaker 1: not if you're driving, but if you're not driving, pull
Speaker 1: out your phone real quick. Um, open up your calendar
Speaker 1: at put a calendar reminder for this channel this time,
Speaker 1: and joining me each and every week. It's gonna be
Speaker 1: the most important part of the most profitable part of
Speaker 1: your week each and every week. To tune in and
Speaker 1: pay attention to what we're talking about. So you have
Speaker 1: the asymmetric information to participate in the asymmetric opportunity. You're
Speaker 1: listening to the Mark moas show where I talk about
Speaker 1: bitcoin and cryptogram and seas in the decentralized Revolution each
Speaker 1: and every week. So what are some of these strategies
Speaker 1: that we're talking about. Well, I want to give you
Speaker 1: two that can really help. Now, you've probably heard the
Speaker 1: saying that a penny saved is a penny earned. I'm
Speaker 1: sure you've heard that, right. So what that basically means
Speaker 1: is that there's two ways to have more money. One
Speaker 1: you could make more money, or two you could spend
Speaker 1: less money. Now, I'm not a big fan of living
Speaker 1: on a budget. Um, I think the strategy of trying
Speaker 1: to skip your morning coffee to save a couple of
Speaker 1: bucks is old and antiquated, and I don't like that.
Speaker 1: I think it's better just to go make more money,
Speaker 1: learn to provide more value to the world, or learn
Speaker 1: ways that you can put your money and do assets
Speaker 1: that go up and purchasing power. I think that's a
Speaker 1: much better option than trying to, um, you know, cut
Speaker 1: back on your morning coffee. So I'm not a big
Speaker 1: fan of budgeting. However, there are ways that we can
Speaker 1: shave enormous costs off that makes us more money. And
Speaker 1: the number one biggest cost and expense that you have
Speaker 1: is taxes. Now, Unfortunately, with cryptocurrencies, the I R S
Speaker 1: decided I think back in the cryptocurrencies were property, all right, So, um,
Speaker 1: there are an asset. They're not a currency. They're a commodity.
Speaker 1: And the reason why that's important to understand is because
Speaker 1: for taxes, you know the saying about taxes only two
Speaker 1: things in life that are certain or death and taxes,
Speaker 1: And so for taxes, cryptocurrencies are taxed like property. Their
Speaker 1: tax like a commodity. Basically, their tax exactly like buying stock,
Speaker 1: or buying gold or buying real estate. So if I
Speaker 1: buy a house for a hundred thousand dollars and I
Speaker 1: sell it for two hundred thousand dollars, I have a
Speaker 1: hundred thousand dollars of profit, and I have to pay
Speaker 1: tax on the hundred thousand dollars. Same with gold, Same
Speaker 1: with Amazon or Facebook or Google Stock. If I buy
Speaker 1: a Google Stock and I sell it and I have profit,
Speaker 1: I owe tax on that profit. Well, cryptocurrency is the
Speaker 1: same thing. If I buy a cryptocurrency, it goes up
Speaker 1: in value and I sell it, I owe tax on
Speaker 1: the profit. Now, there are a lot of people thought
Speaker 1: that I was able to you were able to go
Speaker 1: from one cryptocurrency to another without triggering a taxable event.
Speaker 1: That's like a like kind trade. Now I'm not a
Speaker 1: tax professional. I do want to tell you right off
Speaker 1: the bat that anything that I'm telling you is not
Speaker 1: financial advice, and I am not a tax professional, and
Speaker 1: you should take this information and go discuss it with
Speaker 1: your own tax professional. So let me just tell you that.
Speaker 1: But I've been working with my tax professionals for a
Speaker 1: long time, and so these are strategies that that are
Speaker 1: commonly known and that we use. But again, go talk
Speaker 1: to them, because taxes are very personal. Where we live
Speaker 1: in different countries or different states or different cities with
Speaker 1: different taxes. Different income levels, have different tax brackets, we
Speaker 1: have different types of right off, so it's all very personal.
Speaker 1: So get your own advice. But two things, right, So,
Speaker 1: taxes is our single biggest expense, and if we can
Speaker 1: reduce our taxes, then we can make more money. Right
Speaker 1: makes it? Makes it simple. So you sold that proverbial asset,
Speaker 1: you know, you bought it for a a hundred thousand and
Speaker 1: sold a two and have a hundred thousand dollars of profit.
Speaker 1: If you um did that in less than a year.
Speaker 1: You would probably owe ordinary income tax on that, and
Speaker 1: if you lived in a state like California, then about
Speaker 1: fifty of that goes to tax. Also, of the hundred
Speaker 1: thousand profit, fifty thou dollars goes to tax. If you
Speaker 1: live in a state with no state taxes like Texas
Speaker 1: or Nevada for example, or Florida, you would just sow
Speaker 1: the federal which is probably about dependent at tax bracker
Speaker 1: could be. But what if I didn't have to give
Speaker 1: up that thirty, forty or fifty, Well, then you would
Speaker 1: have the hundred thousand or closer to it. And so
Speaker 1: there is a way to do that. There's there's two
Speaker 1: main ways that you can do that, and this is
Speaker 1: what we're gonna talk about today because I want to
Speaker 1: put more money back into your pocket. So um. The
Speaker 1: first thing is that because it's acts treated like this, uh,
Speaker 1: this property, you can't just buy and sell it one
Speaker 1: for the other. Now again, talk to your text professional
Speaker 1: about that. But there is something that you can do
Speaker 1: today that you can't do with other assets. And the
Speaker 1: rules might be changed after the after the first of
Speaker 1: next year, so you kind of have the rest of
Speaker 1: this month to figure this out before you go into
Speaker 1: the new tax yere and you potentially lose that. And
Speaker 1: so what we're specifically talking about is something called wash
Speaker 1: sales or wash trading, and so what that means is,
Speaker 1: let's say that right now Bitcoin is down, UM, most
Speaker 1: of the cryptocurrency market is down right now today off
Speaker 1: of its previous high. And it's not down a lot,
Speaker 1: it's down whatever it is um, but it's down. And
Speaker 1: so potentially you could have bought bitcoin or some other
Speaker 1: crypto asset um at its previous peak of say sixty
Speaker 1: nine thousand, and right now it's at about fifty six thousand,
Speaker 1: and so you could have potentially lost money. So let's
Speaker 1: say that you bought the bitcoin at at sixty nine thousand,
Speaker 1: right now it's at fifty six thousand. What you could
Speaker 1: do and again talk to your professional, but what you
Speaker 1: could do is you could sell the bitcoin right now
Speaker 1: for fifty six thousand dollars and book a loss. So
Speaker 1: you're basically going to take about a measure this out
Speaker 1: for you. You could potentially have about a loss, and
Speaker 1: then what you do is you turn around and just
Speaker 1: buy the bitcoin again. So you bought it at sixty UM,
Speaker 1: you sell it right now for fifty six thousand, you
Speaker 1: book the loss and then you just buy it back again.
Speaker 1: And what you do is you take that loss and
Speaker 1: you can apply it to other gains. So now when
Speaker 1: you file your taxes, any other profits that you have,
Speaker 1: you could use that loss as a write off against that. Now,
Speaker 1: there's more to this than that. Like a lot of things,
Speaker 1: if you miss a few pieces of information, it could
Speaker 1: be dangerous. So I'm gonna fill you more on that,
Speaker 1: and then i want to tell you another strategy that
Speaker 1: um is different, but it can also put a lot
Speaker 1: more money in your pocket. Now you're listening to the
Speaker 1: Mark mo Show. If you're just tuning in, thanks for listening.
Speaker 1: We're talking about bitcoin, we're talking about cryptocurrencies. We're talking
Speaker 1: about the decentralized Revolution. Trying to give you the asymmetric
Speaker 1: information that you need to participate in the largest asymmetric
Speaker 1: bet we will ever see. I'll be right back with
Speaker 1: more info on how to save on the taxes, So
Speaker 1: don't go away, all right, Welcome back. You are listening
Speaker 1: to the Mark ma Show where we're talking about bitcoin
Speaker 1: and we're talking about cryptocurrencies, and we are talking about
Speaker 1: the d centralized Revolution. I know you hear these buzzwords
Speaker 1: and I don't know what they mean, and web three
Speaker 1: and decentralized and this and that. But don't worry. It's
Speaker 1: not as complicated as it sounds. And we'll go through
Speaker 1: each piece week by week by week. So make sure
Speaker 1: you keep tuning in with me. But what we're talking
Speaker 1: about before the break is we're talking about one of
Speaker 1: the easiest ways, um and maybe one of the most
Speaker 1: powerful ways to increase your income is to reduce your expenses.
Speaker 1: And taxes are your single biggest expense, and so if
Speaker 1: you can reduce your taxes, then you can increase your income. Right,
Speaker 1: makes sense. Then back to the as I said earlier,
Speaker 1: that the penny saved or the dollar saved as the
Speaker 1: dollar earned kind of thing. And so we're talking about
Speaker 1: something called wash wash sale or like wash trading. And
Speaker 1: so what I was saying before the break is that
Speaker 1: if you potentially had bought some cryptocurrencies, um, and they're
Speaker 1: down right now. You know, they're down across the board,
Speaker 1: which isn't that big for cryptocurrencies if that was the
Speaker 1: traditional stock market to be a blood bath. But let's
Speaker 1: say that you bought bitcoin at sixty nine thousand at
Speaker 1: its previous all time high a few weeks ago, and
Speaker 1: right now it's at fifty six thousand. So you could
Speaker 1: sell it today at fifty six thousand, book a loss,
Speaker 1: you know, eighteen percent loss or so, and then just
Speaker 1: buy it back again. So you still own it, but
Speaker 1: you just sold it and bought it. And the reason
Speaker 1: why you would do that is because you you took
Speaker 1: a loss. You brought a sixty nine and you sold
Speaker 1: it fifty six, and now you can apply that loss,
Speaker 1: however much it was to any other potential games that
Speaker 1: you had this year, so you're reducing your taxbill expense. Now.
Speaker 1: Typically this is not okay wash sales. Wash trading is
Speaker 1: not okay to do with stocks. I believe you have
Speaker 1: to wait thirty days in between typically, but by the
Speaker 1: time you sell and rebuy again, I think it's thirty
Speaker 1: days again ask your tax professional. But with cryptocurrencies that's
Speaker 1: not the case, at least for now. Now there's a
Speaker 1: lot of rumors that there's some big, big, big tax
Speaker 1: changes coming after the first of the year, and this
Speaker 1: is apparently going to be one of them, so potentially
Speaker 1: you may not be able to do this again next year.
Speaker 1: And of course, the tax your closes in uh, you know,
Speaker 1: less than less than thirty days. At this point, we're
Speaker 1: in December. Man, I can't believe that the fast time flies.
Speaker 1: So this is something that you might be able to, um,
Speaker 1: you know, participate in and take advantage of this year. Um.
Speaker 1: And at this point right now, all the prices of
Speaker 1: cryptocurrencies are pretty much down. At this point, Um, they'll
Speaker 1: probably pump if I'm here to the end of the year,
Speaker 1: and so um, this might be one of your only
Speaker 1: chances to do that. So that's something that you might
Speaker 1: want to take into consideration. Now, another way that you
Speaker 1: can also increase your income by reducing your expenses is
Speaker 1: again reducing your taxes, and that would be to not
Speaker 1: sell obviously, right, sounds pretty simple, just don't sell ever. Now, Um,
Speaker 1: while that sounds super simple, there's actually more to it. Now,
Speaker 1: by the way, you're listening to the Mark Moa Show,
Speaker 1: which of course we're always talking about each and every week,
Speaker 1: we're talking about bitcoin and we're talking about cryptocurrencies, and
Speaker 1: we're talking about this decentralized revolution. And you know, so obviously,
Speaker 1: if you don't sell the cryptocurrency and you don't have
Speaker 1: any profit, then you don't have any taxes to pay. Right,
Speaker 1: But what's the point of buying something and having an
Speaker 1: open value if you don't ever sell, right, what's the
Speaker 1: point of that? Well, you do it very strategically, and
Speaker 1: so let me let me give you an example. So
Speaker 1: depending on how old you are, if you're if you're
Speaker 1: if you're older, I would say if you're you know,
Speaker 1: in your late thirties or forties, at least are older.
Speaker 1: I'm sure if you look back on your life and
Speaker 1: thought back of all the assets that you've ever bought
Speaker 1: or owned, whether it was stock from ten or twenty
Speaker 1: years ago, you know, Facebook, Apple, Netflix, Google, Amazon, stock,
Speaker 1: or it was a house that you had bought. Um,
Speaker 1: I bet you if you could look back on some
Speaker 1: of those assets and go, dang, if I still own
Speaker 1: those assets, they'd be worth a lot of money today. Um.
Speaker 1: And so if you could go back and kind of
Speaker 1: have a do over, you might want to go back
Speaker 1: and just keep those assets and never sell them. But
Speaker 1: of course you can't. You can't. You can't get to
Speaker 1: do over like that. But um, what I'm trying to
Speaker 1: get you to do is kind of go back and
Speaker 1: realize that because the way that the rich. The way
Speaker 1: that the wealthy, the really wealthy, the generational wealthy people
Speaker 1: get rich is to buy trophy assets. Trophy assets are
Speaker 1: are something that's scarce, their rare assets. They buy these
Speaker 1: trophy assets and they never sell them ever. Ever. I
Speaker 1: say that with dramatic effect and ever and so like
Speaker 1: look at warm Buffett, right, Warm Buffett Bbot Coca Cola
Speaker 1: stock in the sixties. I mean he's owned it for
Speaker 1: you know, sixty seventy years. At this point, you own
Speaker 1: trophy assets and you never sell them. Now, if I
Speaker 1: were to buy cryptocurrency and um, I'm trading it, or
Speaker 1: I just bought it and sold it, and you and
Speaker 1: you and you do a transaction within a year, then
Speaker 1: you're going to pay what's called short term capital gains
Speaker 1: on that, which is basically taxed the same as ordinary
Speaker 1: income if you hold the asset. And again this applies
Speaker 1: to stocks or real estate or gold as well, but
Speaker 1: if you own them for more than a year, more
Speaker 1: than twelve months, then you get was known as long
Speaker 1: term capital gains, which is much better. It's typically fifteen
Speaker 1: versus ordinary mun could be. So the first thing you
Speaker 1: want to do is at least hold it for twelve
Speaker 1: months to get the long term capital gains. But what
Speaker 1: if you buy something and sell it within a year,
Speaker 1: then you're getting hit with that full um, that full
Speaker 1: tax built. Now some of you may know, some of
Speaker 1: you may not that I have been living over in
Speaker 1: Puerto Rico, been living over on the island, and one
Speaker 1: of the reasons why I moved over to Puerto Rico
Speaker 1: is because they have a very very very attractive tax plan.
Speaker 1: And so basically what what what happened in Puerto Rico
Speaker 1: is that they went bankrupt. Um. They defaulted on their bonds,
Speaker 1: They defaulted on their debt, which is something that it's
Speaker 1: really bad. You don't see nations do this, and I
Speaker 1: think they're one of the first nations to do this.
Speaker 1: But what I liked about what Puerto Rico did is
Speaker 1: instead of just squeezing all the people more, trying to
Speaker 1: tax them more, trying to get more blood out of them,
Speaker 1: more money out of them, instead, they did something opposite
Speaker 1: that you wouldn't normally see governments do, and that was
Speaker 1: incentivize people to come and start businesses to bring revenue.
Speaker 1: And so if you moved to Puerto Rico and you
Speaker 1: um start a business that qualifies business that exports services UM,
Speaker 1: and you can qualify for this Act sixty plan, then
Speaker 1: you could qualified to have your business all your business
Speaker 1: income tax at only four percent and you could pay
Speaker 1: zero percent on cap gains taxes. Compare that to California,
Speaker 1: where you're going to be paying at the top tax bracket.
Speaker 1: You're gonna be paying well over fifty percent of your
Speaker 1: income to taxes and you're gonna be paying thirty five
Speaker 1: on cap gains. So by moving to UM from somewhere
Speaker 1: a high tax state like California, moving to Puerto Rico,
Speaker 1: it's like getting a hundred and fifty percent pay raise
Speaker 1: and you're living on a beautif island in the Caribbean.
Speaker 1: So that's why I've been hanging out over there like
Speaker 1: a pirate in the Caribbean. It's been a good life.
Speaker 1: But my one of my longest mentors for twenty five years,
Speaker 1: I've been reading his books. I'm talking about Robert Kiyosaki,
Speaker 1: who's now one of my good friends. By the way,
Speaker 1: shout out to Robert if he's listening. UM. And Robert
Speaker 1: has been giving me a hard time lately. As a
Speaker 1: matter of fact, we were speaking at a conference together,
Speaker 1: and he was calling me out by name from stage, saying,
Speaker 1: you know, these people like Mark moss And and Peter Shift,
Speaker 1: they're moving to places like Puerto Rico. Oh, um, to
Speaker 1: get out of taxes. Don't they know that they don't
Speaker 1: have to move to Puerto Rico to get out of taxes.
Speaker 1: Don't they know that I don't pay taxes? They obviously
Speaker 1: don't know, right, And he likes to make fun of
Speaker 1: me like that, um, And he's right. There are strategies
Speaker 1: that you can use to greatly reduce your taxes, um,
Speaker 1: just like the rich do. It's like Robert Kiyosaki does.
Speaker 1: And it's also some things that I'm starting to do
Speaker 1: as well, and I'd love to share them with you.
Speaker 1: So I want to tell you what that is. And
Speaker 1: again I'm not a tax professional. You should definitely take
Speaker 1: whatever I'm saying and take it to your tax professional
Speaker 1: and discuss it with them and see if it applies
Speaker 1: to your situation. But you don't know what you don't know,
Speaker 1: and you don't know how to tell your tax professional
Speaker 1: what you don't know, and so I at least want
Speaker 1: to give you that. By the way, you're listening to
Speaker 1: the Mark Moss Show where we're talking about bitcoin and
Speaker 1: we're talking about cryptocurrencies, and we're talking about the decentralized revolution.
Speaker 1: We're facing the greatest wealth transfer that we will ever see.
Speaker 1: And you can decide you have a choice. Do you
Speaker 1: want to be on the receiving end or do you
Speaker 1: want to be se be on the giving end of
Speaker 1: that wealth transfer? Of course I know what's side. I
Speaker 1: want to be on. Uh and hopefully you want to
Speaker 1: be on the receiving end as well. So we'll be
Speaker 1: right back telling you how to save money on taxes.
Speaker 1: Don't go away, all right, welcome back. You are listening
Speaker 1: to the Mark Moss Show where we're talking about bitcoin
Speaker 1: each and every week. We're talking about, of course, the
Speaker 1: cryptocurrency move. We're talking about the decentralized revolution, and I'm
Speaker 1: trying to give you the information that you need to
Speaker 1: really participate to really take advantage of this. Damn. It's
Speaker 1: a big subject. It's a deep subject. There's so much
Speaker 1: to learn, and really, you know, you really have to
Speaker 1: know about at least six, if not probably eight different
Speaker 1: disciplines to really grasp what's going on. You need to
Speaker 1: know about um money, right, and most people think they
Speaker 1: know what money is, but most people don't don't know
Speaker 1: what money is. You have to know about monetary history,
Speaker 1: you have to understand economics. You have to understand philosophy,
Speaker 1: you have to understand game theory, you have to understand technology.
Speaker 1: I mean, there's so many different things you have to understand.
Speaker 1: I know, you know, I've been teaching. I've been researching
Speaker 1: and writing and teaching and using cryptocurrencies now for about
Speaker 1: seven years. And a lot of my friends you know, obviously,
Speaker 1: I know that I do this, and sometimes I'll get
Speaker 1: asked by by people on social media or even people
Speaker 1: that I know. A couple of months ago, I was
Speaker 1: down in Mexico and we're out to dinner and one
Speaker 1: of my buddies at the table said, hey, Mark, explain
Speaker 1: bitcoin to me like I'm five years old, And in
Speaker 1: two minutes. I just looked at him and I laughed,
Speaker 1: and I'm like, dude, like sorry, man, Like I can't,
Speaker 1: Like I can't explain to you like you're five, Like
Speaker 1: you're five years old, and in two minutes. It doesn't
Speaker 1: work like that, Like if you're not willing to put
Speaker 1: the time in the effort into understand it, like you're
Speaker 1: just you're never gonna make it. That's a symptom of
Speaker 1: the world that we're in today. A lot of people, UM,
Speaker 1: you know, I'm taking a lot of a lot of
Speaker 1: information distilling it for you on this radio show, in
Speaker 1: these podcast asked or you know, I do it on
Speaker 1: my YouTube channel, and people look at a YouTube video
Speaker 1: and oh, markets twenty minutes, can you can you make
Speaker 1: it shorter? And it's like, really, I'm taking like a
Speaker 1: PhD lesson and distilling it down into twenty minutes for you.
Speaker 1: And if you can't take twenty minutes out of your
Speaker 1: day to figure that out, like, you're never gonna make it.
Speaker 1: And that's what we have going on in the world today.
Speaker 1: Like people, um, they see the headline and they don't
Speaker 1: even bother to read the article. And because of course,
Speaker 1: you know, with the way the media is today with
Speaker 1: their clickbait, um, the headlines rarely um tell you what
Speaker 1: the article is really about. And so if you're all
Speaker 1: you're doing is reading the headline, you're probably missing out
Speaker 1: on on the real story. Um. And so anyway, you know,
Speaker 1: bitcoin is a deep subject and you're gonna have to
Speaker 1: um put some time in to figure it out. One
Speaker 1: of the big problems that I see is especially it
Speaker 1: seems to plague um, smarter people more, especially people smarter
Speaker 1: people that have a lot of knowledge about economics or
Speaker 1: the financial system. It seems to plug them more because
Speaker 1: they're just kind of like, oh, yeah, yeah, yeah, I
Speaker 1: get it, I get it. I get it. Sure. Sure,
Speaker 1: It's like, no, you don't get it. They want to
Speaker 1: grasp it. Um, they think they can grasp it so quickly,
Speaker 1: whereas really the people that kind of come in with
Speaker 1: no prior knowledge of that stuff seemed to almost get
Speaker 1: it easier because they don't have to untrained themselves or
Speaker 1: unlearned everything that they've learned before. So anyway, um, you know,
Speaker 1: we'll be talking about a lot of different subjects from
Speaker 1: a lot of different angles, so you can start to
Speaker 1: kind of figure this out each and every week, and
Speaker 1: I try to give you kind of, you know, one
Speaker 1: good teaching lesson. Now. By the way, you're listening to
Speaker 1: the markma Show, we're talking about bitcoin and cryptocurrencies and
Speaker 1: the decentralized revolution, and um, we're talking about ways that
Speaker 1: you can increase your purchasing power by increasing your US
Speaker 1: dollar value of your cryptocurrencies. And one of the ways
Speaker 1: that you do that is by cutting your expenses, obviously
Speaker 1: um and and and taxes being that single biggest expense.
Speaker 1: So I was talking about how my my my mentor
Speaker 1: and now my friend Robert Kiyosaki has been calling me
Speaker 1: out from stage. As a matter of fact, I was
Speaker 1: on his podcast, UM the Robert Rich Dad Radio a
Speaker 1: couple of months ago, and he started at it again,
Speaker 1: any saying, why why do you have to move to
Speaker 1: Puerto Rico to get it? You know lower taxes, don't
Speaker 1: you know? I don't pay taxes. And what he's what
Speaker 1: he means by that is that he doesn't sell assets
Speaker 1: to generate a profit. And if he doesn't generate a profit,
Speaker 1: he doesn't have to pay taxes. So what what he
Speaker 1: does instead is he borrows against the assets, and that's
Speaker 1: not a taxable event. So, for example, you bought a
Speaker 1: piece of real estate for a hundred thousand dollars, you're
Speaker 1: renting it out. You're making a little bit of profit
Speaker 1: every month. You're making a couple hundred bucks a month
Speaker 1: on the rent. After you pay your mortgage off and
Speaker 1: things are good. You've owned it for several years, five years,
Speaker 1: ten years. Next thing, you know, the house worth two
Speaker 1: d thoud dollars. Now you have two choices. One, you
Speaker 1: could well have three choices. I guess one you could
Speaker 1: do nothing, but but you could sell the house and
Speaker 1: you would owe taxes on the profit. Um. So you
Speaker 1: sell it for a hundred dollars, you know, you you
Speaker 1: bought it for a a hundred thousand, for hundred thousands profit,
Speaker 1: and you have to give let's say, you know, thirty
Speaker 1: forty grand of that to the government. Or what you
Speaker 1: could do is you could rEFInd nance the house or
Speaker 1: take out a home equity line against the house, and
Speaker 1: you could just pull equity out of the house. And
Speaker 1: that's not a taxable event. So now I can take
Speaker 1: the Huntergrund out of the house through some sort of
Speaker 1: a loan, and I don't have to pay tax on
Speaker 1: the Huntergrund and I still have the house. I didn't
Speaker 1: have to sell the house. And so that's what that's
Speaker 1: what the rich do. They find trophy assets. Trophy assets
Speaker 1: are scarce assets that are going to continue to go
Speaker 1: up in value and they hold them forever. So the
Speaker 1: people that bought, you know, man a block of Manhattan
Speaker 1: real estate in New York, right for example, and they
Speaker 1: just passed that down from family, you know, generation generation generation.
Speaker 1: They just never sell it. It's a trophy asset right now.
Speaker 1: If you're in the middle of of of I don't know,
Speaker 1: North Dakota or Kansas or whatever, maybe it's not as scarce.
Speaker 1: But in Austin, Texas, for example, like Lake Travis Um,
Speaker 1: there's only so many homes around the lake, very rare,
Speaker 1: very scarce. And you have all these fortune companies moving
Speaker 1: Silicon Valley to Text to Austin, and those people make
Speaker 1: fifty million or a hundred million dollars a year or
Speaker 1: whatever they're making, and they don't care if that house
Speaker 1: on the lake is one million or two million, what
Speaker 1: do they care. I don't care if it's five million
Speaker 1: or ten million. They're making fifty million a year, right
Speaker 1: And so we've seen I have a buddy down there
Speaker 1: and he bought a house on the lake a year
Speaker 1: ago for ten million and recently sold it for twenty
Speaker 1: two million in one year. Because it's scarce now, it
Speaker 1: would have been better if you didn't sell it. And
Speaker 1: so that's what I'm talking about, a scarce asset. And
Speaker 1: that's what cryptocurrencies are, right Bitcoin there's only twenty one million.
Speaker 1: There will never be more than twenty one million um
Speaker 1: when you calculate in what's been lost, which there's no
Speaker 1: way for us to know, but you know, some reasonable
Speaker 1: guestimations say that we'll probably really never have more than
Speaker 1: seventeen or eighteen million bitcoin in circulation because so many
Speaker 1: have already been lost. But let's take the full number
Speaker 1: of just twenty one million. Today in the world, we
Speaker 1: have over fifty million millionaires, over fifty million millionaires. There's
Speaker 1: only twenty one million bitcoin, So there's not even enough
Speaker 1: bitcoin for all the millionaires to even own half of one.
Speaker 1: That's how scarce it is. And then you guys got
Speaker 1: You got guys like Michael Sailor from the CEO of
Speaker 1: micro Strategy, who's bought over a hundred thousand of them.
Speaker 1: He's taken a hundred thousand for himself, So there's a no,
Speaker 1: there's a hundred thousand more millionaires that can't ever get
Speaker 1: any bitcoin. That's how scarce it is. And so you
Speaker 1: can buy it. You can buy a trophy asset like
Speaker 1: bitcoin that's scarce, and you just own it forever and
Speaker 1: you don't ever sell it. If I don't sell it,
Speaker 1: I don't owe taxes on it, and I still have
Speaker 1: the ast to cope and value and that's great. But Mark,
Speaker 1: why would I buy an asset that all goes goes
Speaker 1: up in value and I never sell it? How do
Speaker 1: I unlock that profit? How do I use it? Well,
Speaker 1: there's a very simple way to do that, just like
Speaker 1: the house example, like Robert Kiyosaki talks about it, I
Speaker 1: can borrow against my bitcoin. I can take a loan
Speaker 1: against it, and so I would Basically, you know, my
Speaker 1: my bitcoin went up. I bought it for ten thousand,
Speaker 1: it's worth sixty to day, I bought a hundred thousand
Speaker 1: dollars worth a bitcoin. It's worth um, you know, three
Speaker 1: million dollars today or whatever. And instead of selling let's
Speaker 1: say that I wanted to buy a house, I needed
Speaker 1: five hundred thousand dollars down as a down payment for
Speaker 1: the house. Instead of selling um a million dollars of
Speaker 1: bitcoin and then paying tax on it, not having the
Speaker 1: million dollars bitcoin anymore, paying attacks and then then I
Speaker 1: end up with my five thousand, what I could do
Speaker 1: instead is just borrow the five thousand dollars against it,
Speaker 1: five dollars against it, and I don't have to pay
Speaker 1: the tax, and I still have the million dollars worth
Speaker 1: of bitcoin to continue to go up in value. See
Speaker 1: how that works? Now, I know now you have to
Speaker 1: pay interest on the loan. How does that work? Um?
Speaker 1: How I mean, how can you continue that going forward?
Speaker 1: What happens with the debt eventually? I mean, these are
Speaker 1: all great questions. These are all great questions that I
Speaker 1: want to answer for because it's actually pretty simple. Um,
Speaker 1: that's a pretty simple plan. And I have a formula
Speaker 1: that I've broken down and I'm gonna lay that out
Speaker 1: for you, and I can tell you how much what
Speaker 1: we're expecting in the future, how much you can borrow,
Speaker 1: how you manage that payment, and what you ultimately do
Speaker 1: with the debt. Like I said, it's not that complicated,
Speaker 1: but you kind of have to know the strategies. I
Speaker 1: want to break that down all right now. By the way,
Speaker 1: you're listening to the Mark Mass Show, which, of course,
Speaker 1: if you're just tuning in and you don't know, we're
Speaker 1: talking about bitcoin, we're talking about cryptocurrencies. We're talking about
Speaker 1: the decentralized revolution that is going on that we're living through,
Speaker 1: that we're witnessing. Let's kind of bring massive massive, massive
Speaker 1: hope and prosperity to the world. UM and it likes
Speaker 1: that the world has never seen it's gonna be that big.
Speaker 1: So I want to talk to you more about how
Speaker 1: we can hold those trophy assets, never sell them, but
Speaker 1: still unlock the profit out of them. So don't go away.
Speaker 1: I'll be right back, all right, welcome back. You are
Speaker 1: listening to the Mark Ma Show where we're talking about
Speaker 1: bitcoin and we're talking about cryptocurrencies, and we are talking
Speaker 1: about the decentralized revel lution we're living through right now.
Speaker 1: And I've been talking about ways that you can increase
Speaker 1: your money, increase your dollar stack, increase your purchasing power
Speaker 1: and UM the high level. To catch you up if
Speaker 1: you're just tuning in, by the way, thanks for tuning in.
Speaker 1: Make sure to bookmark me at this time in this
Speaker 1: channel so you can come back each and every week,
Speaker 1: which will be the most profitable part of every week
Speaker 1: that you that you have. UM. But just catch up
Speaker 1: real quick. I was talking about how the way that
Speaker 1: the wealthy really build wealth, the way that they really
Speaker 1: build UM, you know, get rich for generations, is they
Speaker 1: buy trophy assets and they just never sell them, Like
Speaker 1: Manhattan real estate or lake front property in Lake Travis
Speaker 1: in Austin, Texas. And they buy trophy assets and they
Speaker 1: just never sell them and they pass them down to
Speaker 1: from generation to generation. And if they want to get
Speaker 1: some of the money out to buy something else, they
Speaker 1: can borrow against the asset. Now, this is not new
Speaker 1: to cryptocurrencies. Um. You can borrow against your house and
Speaker 1: pull equity out of your house. Most banks, like else Fargo,
Speaker 1: will loan you money against your stock portfolio. Um. Certain
Speaker 1: stockbrokers like Interactive Brokers for example, will loan you up
Speaker 1: to against your stocks in your account. UM. And you
Speaker 1: can borrow against your bitcoin too. Right, It's it's an asset.
Speaker 1: You can borrow against pretty much any asset that you have.
Speaker 1: It's not it's not new and unique to cryptocurrencies. A
Speaker 1: lot of people, UM, when I've explained this to them,
Speaker 1: they're like, oh, Mark, the governments will never allow you
Speaker 1: to continue to borrow against your bitcoin. And it's like really,
Speaker 1: because you can borrow against any asset, like you pledge
Speaker 1: the asset as collateral and people oan your money. I mean,
Speaker 1: it's just not it's not a new concept. But for
Speaker 1: some reason people think it's a new concept of this,
Speaker 1: but it is a new strategy you can apply, and
Speaker 1: it's one that you should apply to trophy assets like
Speaker 1: bitcoin that are that are very scarce. And so going
Speaker 1: back to this UM example, what we're doing is is
Speaker 1: you're buying the bitcoin. As I said, if you if
Speaker 1: you bought some bitcoin, you bought you know, a hundred
Speaker 1: thousand dollars worth about now it's worth you know, a
Speaker 1: couple of million bucks. You want five grand to put
Speaker 1: down on a house. You could sell you eight hundred
Speaker 1: thousand a million dollars with a bitcoin, pay your taxes
Speaker 1: on it, and then end up with the five grand.
Speaker 1: But then now you don't have that million dollars bito anymore.
Speaker 1: Or you could just borrow the five grand against the bitcoin,
Speaker 1: don't pay taxes because it's not a taxable event um,
Speaker 1: and then you still have the million dollars a bitcoin
Speaker 1: to go up in value. Now, there's a few strategies
Speaker 1: to this. Now, the first thing you have to understand
Speaker 1: is um, you obviously have to understand bitcoin and you
Speaker 1: have to believe that it's going to continue to go
Speaker 1: up in value. UM. If you borrow against it and
Speaker 1: it goes down in value, then they may liquidate some
Speaker 1: of your your bitcoin because you've pledged it as collateral.
Speaker 1: They may liquidates, they may sell some of it to
Speaker 1: pay off some of that debt, which isn't in the
Speaker 1: end of the world, because it would have been no
Speaker 1: different than if you would have sold it in the
Speaker 1: first place, right, So you're not really any worse off. Um. However,
Speaker 1: I believe that bitcoin is gonna continue going up, and
Speaker 1: so let's talk about that, and then we'll get a
Speaker 1: little bit more into the strategy, because you kind of
Speaker 1: have to understand this a little bit better first. So
Speaker 1: so far, bitcoin has been the best performing asset in
Speaker 1: the history of the world. It's averaged about a two
Speaker 1: hundred percent compounded annual growth rate for the last eleven years. UM.
Speaker 1: A lot of people think bigcoin is volatile. The price
Speaker 1: goes up and down, and it's it's not a good
Speaker 1: store of value, many people say. And they say it's
Speaker 1: not a good store of value because it's so volatile,
Speaker 1: the price is always going up and down. But the
Speaker 1: reality is if you zoom out and you look at
Speaker 1: it over a long period of time, and you look
Speaker 1: at the lowest price every single year, the lowest price,
Speaker 1: it's ever reached. Each year, you'll see that every year
Speaker 1: the lowest price has been higher than the year before,
Speaker 1: except for one time is the only year that the
Speaker 1: low was lower than the year before. That's the only
Speaker 1: year out of all the years in history, it's always
Speaker 1: been up. Now, it goes up and down within the year,
Speaker 1: but it's always continuing to march higher. Now. I bet
Speaker 1: you would have been wished you would have been listening
Speaker 1: to the show a long time ago, because I've been
Speaker 1: pounding the table telling people to buy a bitcoin since
Speaker 1: it was like three four hundred bucks. Some of my
Speaker 1: friends I was telling to buy it a four thousand,
Speaker 1: five thousand, and then it dipped to three thousand. They
Speaker 1: got mad at me. I'm like, look, guys, zoom out, like,
Speaker 1: I know, you bought it at four thousand and went
Speaker 1: to three thousand, and you lost your US dollar value.
Speaker 1: So what it's gonna be worth a lot of money
Speaker 1: one day? Uh. And so some of them got mad
Speaker 1: and they sold and you know whatever, but they were
Speaker 1: mad at dropped to three thousand. I mean, how lucky
Speaker 1: or how how happy would you be to buy it
Speaker 1: three thousand when it's sitting at fifty six thousand today.
Speaker 1: So the first thing you have to understand is that, yes,
Speaker 1: it's voluntile, meaning in the short term it goes up
Speaker 1: and down a lot, which is why I say it's
Speaker 1: kind of a distraction. But if you zoom out, it
Speaker 1: goes up. Now can it what rate can it continue
Speaker 1: to go up at? Well, if you were looking at
Speaker 1: any asset and trying to understand how much value can accrue,
Speaker 1: you look at what markets is disrupting and how much
Speaker 1: of that market share can it pull in? And so
Speaker 1: I would say that very easily we could see it
Speaker 1: getting into five hundred thousand dollars per bitcoin in the
Speaker 1: next five years. That's based off some super simple calculations.
Speaker 1: Like right now, we're starting to see as I mentioned
Speaker 1: micro Streight, a G SMP five companies like that moving
Speaker 1: part of their treasury. They're they're savings into bitcoin um.
Speaker 1: Some of them are putting in bitcoin UM. Cathy would
Speaker 1: from ARC Finance, our ARC, the e t F, the
Speaker 1: tech at e TF. She said that if if the
Speaker 1: SMP five companies would just put only five per cent
Speaker 1: of their savings into bitcoin, we can see the price
Speaker 1: shoot up to five d So I think that's I
Speaker 1: think that's totally possible. Um, that's a ten x roughly
Speaker 1: a ten x from here in the next five years.
Speaker 1: But but but that's that's only the beginning. Um. Then
Speaker 1: it can start pulling in you know money, you know,
Speaker 1: value from currencies from gold goals about thirteen trillion dollars.
Speaker 1: It can take all that thirteen trillion dollars. That's a
Speaker 1: thirteen x from here. Um, we could see it start
Speaker 1: pulling in money. There's there's a thirty to forty trillions
Speaker 1: in a off four bank accounts right now. Is definitely
Speaker 1: better than an off for a bank account. So we
Speaker 1: could see a pull in thirty to forty trilling from there. Uh.
Speaker 1: And then then you have a lot of people that
Speaker 1: have been buying real estate, for example, because they know
Speaker 1: their currencies you know, devaluing super fast, and so a
Speaker 1: lot of people would probably rather not have to buy
Speaker 1: real estate and they might rather buy goldspeople pull something
Speaker 1: from that, pull some from stocks. A lot of people
Speaker 1: are gambling the stock market. It could pull money from that.
Speaker 1: I mean, it could very easily get to three million
Speaker 1: dollars um. You know, as as a as a market
Speaker 1: cap for the whole market cap, which is a two
Speaker 1: to three x from here. And so obviously nothing in
Speaker 1: life is guaranteed. UM. And and that's certainly not a
Speaker 1: d certain that that's going to happen, but but it
Speaker 1: but it could. I mean, that's the trajectory that we're on.
Speaker 1: And so UM as long as it continues going up
Speaker 1: more than the rate you're borrowing. So for example, if
Speaker 1: you were to borrow let's say five percent, so you
Speaker 1: let's say you have a hundred thousand dollars worth a
Speaker 1: bitcoin today, you leave that parked maybe in the next
Speaker 1: five years, that's worth three million bucks. In three million
Speaker 1: US dollars um, you borrow let's say five percent of
Speaker 1: that UM. And you you know, with a hundred thousand dollars,
Speaker 1: you borrow a little bit extra to cover the interest,
Speaker 1: the payments, and you have some set aside for the payments,
Speaker 1: and then you have a hundred thousand dollars you can
Speaker 1: just live on. You can pay your bill, pay your
Speaker 1: living expenses, and live off that money and it's tax free. Now, UM,
Speaker 1: you borrowed five percent. Now, as long as it goes
Speaker 1: up by more than that the next year, you do
Speaker 1: the same thing. So if it goes up another fifty percent,
Speaker 1: the next year, then you borrow another five percent, and
Speaker 1: you borrow a little bit extra, some pays pays off
Speaker 1: the loan from the year before, and then you live
Speaker 1: off the rest and there's no taxes because you're borrowing money.
Speaker 1: And then as long as it goes up by more
Speaker 1: than five percent the next year, which it goes up
Speaker 1: by the next year, you borrow five percent again, and
Speaker 1: as long as it continues going up by more than
Speaker 1: the amount you're borrowing, you can essentially do that forever.
Speaker 1: Pretty interesting, right now what happens with the debt? Eventually,
Speaker 1: when nothing happens with the debt, you die. You die
Speaker 1: with debt at the end when you die and you
Speaker 1: pass it down to your kids, you end up with
Speaker 1: ten million dollars a bitcoin and you owe two or
Speaker 1: three million dollars of debt. So what just keep rolling
Speaker 1: the debt? Now you could obviously liquidate some and pay
Speaker 1: the debt, but now you don't have that asset to
Speaker 1: keep going up in value. And so eventually, you know,
Speaker 1: your kids when they're old, they have thirty or forty
Speaker 1: million dollars with a bitcoin and they owe seven million
Speaker 1: dollars a debt, So what right, you can just keep
Speaker 1: rulling it over and over and over. And I know
Speaker 1: this is a different concept, and I know it probably
Speaker 1: blows your mind. Um, but it's not that complicated. This
Speaker 1: is how people do it. This is how the rich
Speaker 1: really build wealth, and you can too. I like to
Speaker 1: say that success leaves clues. What does that mean. That
Speaker 1: means if you find other successful people and you can
Speaker 1: figure out what are the things that they did to
Speaker 1: become successful, and then you do the same things, then
Speaker 1: you should have about the same results. Right. So that
Speaker 1: means if you if you if you um at a
Speaker 1: at a young age, if you got um an Arnold
Speaker 1: Schwartzenegger's work out and diet routine and you did the
Speaker 1: exact same workout, exact same food as you grew up,
Speaker 1: you may not be quite as big and strong as
Speaker 1: a Honlord Swartzenegger got and broke all those records. However,
Speaker 1: she'd be pretty dang big, right, And so that's what
Speaker 1: I mean. Success leaves This is what the successful people
Speaker 1: are doing. This is what people like Robert Kiyosaki are doing,
Speaker 1: and this is something that you can do as well.
Speaker 1: Now you listen to the Mark Moa show. We're talking
Speaker 1: about bitcoin and cryptocurrencies and the decentralized revolution. I am
Speaker 1: a teacher, I'm an educator. I am not a tax professional.
Speaker 1: So take this information and go discuss it with your
Speaker 1: tax professional. See if it's right for you, See if
Speaker 1: he can help you implement that. But it is being
Speaker 1: done by the people. Thanks for listening.