 Now if you like to stick around with me and I'll answer all your questions. We'll do so in the Q&A So if you're ready, let's jump in the Q&A if not get out of here enjoy football and do whatever you got to do Thanks for stopping by. I do appreciate you stopping stopping by and chatting with me. All right, let's get into it so NVO's tax crypto software sucks tax crypto software does suck if you use it wrong Or if you've got like two or if you've done like three trades in your entire Existence and crypto you don't need tax software. I'm here. I'm here to tell you But if you've done like a hundred or so And you don't like to power through a bunch of spreadsheets because you realize that time is finite And you want to actually get some stuff done tax software is the perfect thing for you However, you don't have to do it. You can just do it in a cost-based analysis. Have fun doing that stuff I'm just not that guy Hey meme is here. I'm not you Tesla's here. I'm a Piper Jonas Hello Rassel NVO's Shinobi analytics, yeah, Tesla just announced we haven't seen the pain yet. We will see Bitcoin go low Maybe I don't know Look, I'm not no Stradamus I'm quite Very much a simpleton. So I don't really know where the prices are going I just know that it's nice to have some some power on the sidelines, especially for the things I want to do coming up That's it Let's see. What did I miss? Karen says I Who is arm wrestling in that picture? That's pretty nice. I DCA and dips only it's a pretty good idea Nothing wrong with that with the consequence that will be able to say it worked. Maybe show Let's see. Okay. Ah old bear Quick Voyager rundown around what's the benefit of opting it? I'm not for sure on this one I am opting in for everything to liquidate that S show as soon as possible to get funds back and it's not like I I mean I'm gonna opt in for for this as it gets bought out by Binance I will opt in for that and go from there, but DJ crypto did a pretty good video and he's off today on those things so I would definitely watch his channel DJ crypto and He'll tell you everything you need to know about that and also I think Aaron Bennett also does it and also was Celsius But yeah for opting in I'm going for I think before on the FTX deal was about to go through I think we would have seen like 60 or 70 percent of our portfolio return. Yay, and now with Binance It's like 50 to 60 percent. Hey, not bad Yeah, I should know he says Rob. You're figuring Powell has four more rate ice coming. That's if he does it Let's not be too bearish. I mean on this channel. I'm kind of bearish, but I like to be an optimist at some point They could pause Look, I find it very interesting that Jamie Diamond came out and Davos and said, you know I think it wouldn't be a bad idea if we just paused Some of these rate hikes just to see what happens. They'd be interesting to see if Jerome Powell was like, okay I got my marching orders. Let me write that down All right, so we'll see The alley is good question Rob, why do you edit Q&A out of your videos? So I do it for a couple reasons first of all it's because For the YouTube algorithm, not a lot of people watch hour-long videos. They just don't when they see an hour long They're like I'm out of here That's why you've noticed that I've gone back to doing videos that are like 10 minutes 12 minutes and kind of condensed the Information so people can get the information get out because people are busy So when they see an hour, they don't want to do it and then the other reason is because when you split them up It makes it easier for people so they can say okay I just want to deal with the news that Rob is talking about even though we do timestamps. I mean a little later so I Don't care about the Q&A. Even there is a Q&A. I see an hour So you just have like the news which is like, you know 13 14 minutes and then the Q&A is like 45 minutes and then they can choose to pick what they want to do So that's why I added it. I I don't edit it out. I cut it on the program I have my editor Reformat it and then reupload. So yeah Aristotle. Oh the sweat coin thing. Yes, let's take a look at that. Shall we? alright so if you guys don't know there's a Sweat coin app which again, yes, I'm super biased and I talk about it because I own it That's not no surprise here. You look in the there's a link in the description Sweat coin challenge and all that is it's You download the app the app is free you earn sweat coins and those are free and The top 30 get prizes and then this is how it all works out. So you download here again affiliate links shocker Walk and win. Here's the prizes for first place and second place and third and fourth and fifth six through ten A lot of stuff and then this is the spreadsheet. So they only up They only I'm working with The sweat economy or sweat app to update this this spreadsheet and they only do it once a week now So January 16th This is what we got. So the top 30 the cutoff here is 240,000 steps. It's pretty good. So it's pretty heated. We'll see who wins but go from there and Yeah, that's what's up. So it just gets updated once a week I think it's updated tomorrow, but that's what we have so far as of January 16th. So I hope that answered the question for you Oh, yeah Alex says hey, Rob. I think you look good if you dyed your hair white and the beard purple I think I tried dyeing my beard a while ago, but it just irritates the hell out of my skin. So I just let it go white and It makes me look wise or even though I am not Crypto poppy has been on any Bitcoin updates. I think you did a video on yield curves today. I haven't yet to check that out There's ledger live into Gateway everything blockchain perhaps but I'm just gonna warn you like you can use ledger live I mean, I use ledger right to store everything But just so you know that if you're gonna buy crypto through ledger You're gonna use a couple of different programs and one of those is moon pay up at the other one And it's like ridiculously priced like four to six percent is the markup And I'm like that's the best we can do in crypto four to six percent of the total transaction you guys gonna charge It's ridiculous. So I don't even think about it. I don't even use it period. I Hate that. I mean, whatever Let's see. There we go. Tesla Bitcoin monitors the sleeping giants. Yeah, they are and they really do dictate a lot of things that are going on behind the scenes but again talk to a friend today his His cost based on out his break even point for Bitcoin is 22,500 which is super high But I was listening to CEO of riot blockchain. They were it was sub 10,000 I want to say it was eighty seven hundred or eighty nine hundred dollars was their break-even point And that was like three months ago two or three months ago So when you're a big mining operation, you can do those things because you've negotiated some super sweet deals as far as with Electricity electricity power in the grid itself Of course riot when things go when Texas needs a big boost in electricity They shut off and Texas pays in the shut off. So it's hard to compete with those guys. That's just how it is Bicky, thank you, sir Aaron Bennett link as well Bicky if you give me a favor find DJ cryptos link and stick it in there so people can read find out about Voyager Yeah, and see that's just it Neil's got a good point. I'm with Ben and still have cash on the side I still have a decent size holding from last cycle took profits not as much as I should have that's everybody Don't worry, but this is the thing like you can't really lose as long as you stay in the game Like for me people like what are you talking about? You just took profits. How dare you I'm still here and I'm still buying every single day It's not the point the point was to take profits along the way now I'm still gonna I bought today about yesterday. I have been buying Well, the whole year of 20 well 2020 and a 2021 and 2022 now 2023 So I'm here until 2025 that's probably the bull run Maybe everybody's guessing Maybe 2026 maybe 2027. I don't know but I'll be around here for at least the next bull run after that. Yeah, the channel might Slowly right off into the sunset. I'm just here to get everybody to the promise land. That's it See I love my pet rock That's a that's a quote from Jamie Diamond who he says he says that Bitcoin is like it's like a pet rock I gotta tell you I'll tip my hat to that guy. He leases consistent Opposed to like Jim Kramer who comes out and talks about Bitcoin's the future and he's like you're a mourn for holding it Might didn't you pay your entire house off with crypto? So I Don't know Kind of hypocritical or whatever Robin bull market Could it be tomorrow? I don't know maybe 2025 6 7 maybe 2024 2024 is a halving that'd be very odd if it did that But usually it kind of starts with the halving and then we kind of tick up from there But everything's different. I think this bull run would have been more a Classical case of a bull run in 2021 if it wasn't for the shenanigans that FTX was doing They did some weird stuff and they cost. I think a lot of people a lot of money And I think that was a big reason. I think that was a big reason why there was it was such a wonky Bull run. I think we could have gone up much much higher But you know Sam had to make a bunch of money and prove everybody that he was awesome. So hope that works out for him in prison allegedly Open shorts retails driving this rally interesting As far as quant I don't own quant so again, I don't really talk about it too much Why I just gave you like a 10-minute rundown. You can watch the replay Taken profits Frank the tank. What's there between tax from the US States and Puerto Rico? Well, if you're here and you sign up for act 60 Yeah, that's what it's called now You don't have to pay any capital gains taxes, which is pretty great. However You do have to pay a bunch of other taxes that are here the cost of living is super high It just is and then of course you have to be able to specific charities for $10,000 plus and filing fees of 5,000. There's all types of fees. It's quick crazy. So you have to take a look at that. However Even if I didn't have capital gains tax on this one the ones that I sold If you've been watching the channel, you would have known I talked about a lot about Tax loss harvesting before December 31st 20 before the last year stopped I said use tax loss harvesting sell the crypto That was underwater buy it right back at the same price. That's called wash trading equities. You can't do that but in crypto Still legal for now So I have good a good amount of losses so I could just offset without what I what I sold today and That's just it like there's so many things that are going on like like people will always say well Rob white, you know You should have done this and this and taxes and it takes me so long just to kind of like to get through all the Manusia of what you have to do. So like it just gets me a drag sometimes. That's all And you know like another problem is what like what like with this one? There's always gonna be a thumbnail investor who's gonna look at this thumbnail not watch it whatsoever Comment like crazy and there is like well, what a moron For those I mean I can't help everybody so that's that Yeah, I Don't know What is one purchase of Bitcoin with the lowest gap? I just use Coinbase. I'm sure it's marked up But it is what it is. I'm in America. So I have limited options Holy smokes. I Dropped 13,000 two weeks ago on my DC and I'm only 30,000 from the months ahead. It's pretty good Probably do quite well actually probably will Yeah, Rob max says eight or so years left. It's like even think of selling, you know, this is a good point So right here. So if you're one of those people like I'm not selling for years and years and years I think now is the time to when you start to want to think about What are you gonna do with your? Your taxes these capital gains tax that you're gonna have are you okay with paying? I mean even short-term capital gains tax in America. It's roughly 20 2021% for a long-term capital gains me you held up for over a year if you're in whatever it is Portugal or different places Abu Dhabi UAV then you're not gonna pay anything So the question you have to ask yourself is is it worth it for me to do something with this? Maybe put this into a trust For later on for my kids and grandkids maybe into a Roth IRA some of it I don't know if you want to do that or if you want to move or you just want to say You know what 20% 20% I got 80% 80% of a billion dollars. I'm okay So but it is an interesting question to think about the things now as opposed to when you make the money Another thing you want to think about too is like this and I was on I've got a show our names Jade real nice lady Ben introduced me to her we did a discussion and We're talking about The ability to not have to worry about money which I know some of you aren't there some of you are They are already but you have to think about this like Rob's here. Let's say that Rob puts in 40 bucks Every day to something right and he just just dollar-cost average for eight years goes through one bull run Whatever second bull run hits it and now let's say bitcoins at half a million dollars for one and Ethereum is at 25,000 and Cardano's at you know, I don't know 50 bucks He's got so much money Now I said doesn't have to do anything. You really want to think right now is what do I do when money's on an object? What do I do when I don't have to go to work? What do I do when? My friends and family they all have to work. I have nothing else to do What do I do? I know you like right now? You're like that's a sweet problem. They have Rob. Trust me This is this is laughable right now. Trust me once it gets to that point and you're looking for a purpose It's not as easy to think it is And you got to find something as an outlet and no going on the beach every day and drinking my ties sucks after a couple weeks I live in Puerto Rico. I will tell you that's exactly the truth I mean, I'll do it every so often not gonna lie. All right, then. Let's see Yeah, well, I'm showing like you like you describe as legal. Yeah, Washington for equities illegal So that's it now as far as I am under the impression. I don't think that that crypto Well, it could be wrong and different different parts of the world. You can't just sell off and do it I mean, who knows maybe in like Some parts of Australia, I have no idea Rob how will you live knowing you haven't sold the exact top? I don't know. It's gonna be tough to sleep You stuff tough to sleep Yeah, maybe that's what I'll do Maybe the next the next evolution will just be me Show telling people with all the things I learned about YouTube and how to make a successful YouTube channel or maybe I was doing to go into real estate Channel about real estate or maybe I was to fit off in the sunset like what I should do The digital wall. Why is Ben not talking about prices in denial? Meh, probably not. But who knows It'll be it's gonna be an interesting NFA Session on Ben's channel on Thursday Nah, you know, if you think about it, we really think about it. Is anybody in the wrong here? Like if you sold everything today because you needed it to you know pay for a medical procedure or you want to Like, you know what I just need extra cash because I can't make it I can't put food on the table for my family. Are you wrong? No, let's say it takes in profits. They like I did It doesn't matter or you just said I'm like like Mac was like I'm waiting eight years No one's wrong for what they do. It's their choice. And of course, it's Their goals aren't your goals, right? My goals aren't your goals Your goal may be to buy the most expensive Lambo in you know, Iowa. I don't know But whatever it is, yeah, you know, you just have to figure out what it is for you and move forward. Oh Yeah, Aristotle rather use chat GPT all the time that thing is awesome Here's a little thing I was thinking about about Bitcoin utility crypto digital assets that the utility that it has moving forward. I guess this would be a great question right now So my question is this How many? I'll figure it out. How many people use chat GPT on a daily basis You know, I could just ask chat GPT How many users? Well, it has 1 million users. I don't know if that's per day or what that is You probably want to see what I'm looking at here. Let's just ask chat GPT. I use another one I use the behind-the-scenes one called playground many daily users Oh Well, there you go. I don't know So we do know though that it took five days to hit 1 million users, right? And that was three weeks ago. So let's just say for the sake of argument It continues on with that, but just say it has 1 million or 2 million users per day. How many people use Bitcoin per day? It's a good question. Let's find out Bitcoin transactions. What is it? Okay, Bitcoin still she's vision. That's worthless dash Okay Bitcoin cash. I'll leave XRP up there Let's see. So Bitcoin transactions Per day you're looking at 260 You know a quarter of a million a quarter of a million look at that Huh, and let's zoom out. Let's go for a year. Now. Let's go three years. What the heck happened here. Oh Bitcoin trend 22,000 So unless I'm looking at this won't wrong correct me in the comments But it's looking it's like about a quarter of a million per day as far as Bitcoin transactions. Is that right? XRP transactions are 1 million. Wow. So if you got chat GPT, and they're doing roughly a million per day Which one has more utility? I'm not saying which one's worth more but And which one of course for the future of a country is worth more I'm just saying that as far as utility goes I think AI is gonna be a monster, but I could be wrong I'm 31 on time my 40s could happen. Not for sure See that's just it. This is tribesmen. I don't know if you're It's hard to tell somebody's joking or not. This is the thing that that always gets me like they look at the at the Thumbnail on the title and says oh my god Rob. So I was always crypto. I need to sell on my crypto or You just curious like that Rob saw his crypto. Why Rob saw a script of I didn't sell on the crypto I just took some profits It's tough it's tough to get the the information out as best as possible Aristotle pools looking awesome and bringing missions. Yeah Got fixed a little hole in it or a little leak. I should say Energon saviour that's why I don't succeed in investing is I want I want to work on my purpose instead You can do both What is mine? Where are we? Army says Rob is serious. I will have 200k in crypto everything's blown I just want to link up an EP to look at investment properties. You can I got a guy That can help you with that I don't I don't show properties not an agent But I got a guy who does a retail end commercial. I would recommend some commercials some commercial property But it's up to you Yeah, my goal is to have a day off once a month. I remember those days I used when I were telling health. I never I didn't I never took a day off Weekends is when I made most my money Rob any advice for d5 d gens and tax reporting? coin ledger They they can they can link to those DeFi protocols and also all those crazy goofy nfts that you guys bought which are now worthless At this point, maybe they go up. I don't know You can also report those if you sold them. So it links up with everything just about Chat gbt doesn't engine it could be Yes, that's it behind the pfp. That's right What jade? What is btcb? There's bitcoin cash and there's bitcoins atoshi's vision and that's it That's probably true. That's probably true take profits Nate says robby don't think they're recording every character type in to use it later. I get what you're saying. Yeah, of course they are That's just it, you know, like Sometimes like I know people are some people like really big into privacy And some people are kind of like in the middle and some people like I don't like I don't care but uh like in all honesty like I use uh brave so I don't get the ads but Like when I use the app like like when I use facebook, which I do rarely now And I'm perusing through it. It is nice. Sometimes they have some relevant ads Serve to you because like I was looking for jumper cables on amazon They were kind of pricey then an ad came up for jumper cables. They were pretty cheap I'm like, oh, this is it and I got them So I know like some people say well, how dare they they they track me tonight as it works out pretty well, honestly Yes, that's it. I know a guy Oh That's a good one norman I transfer most of my crypto to ledger but kept 10% exchange of sell Sure Ah syed see this is the thing When I was talking about utility and chat gpt Great for most people, right? But for syed here, you know bitcoin And or stable coins It's probably way more important than artificial intelligence Because why because his whole life savings or anything he has gets inflated away So I can definitely see that Ah bitcoin be on avalanche. Okay Someone needs to create a dog coin. She helps dogs Right, frankly thing says you're not taking profits if you're in a loss. That's true. And that's that's the beauty of it, right? That's the beauty of That's one of the things that that me and guy and ben just don't agree on and that's because they're they're waiting to strike Uh with their large enormous Scrooge mcduck pile of money that they have saved away And uh, I'm just like I'm just gonna I'm not that smart I just gotta I'm gonna buy buy dollar cost average And then when some profits come up 20 30 40 crazy times I just take some profits if I miss the 50 60 100 200 300 percent. I'm okay I still got a profit. I still think it's gonna go down But then people will say well, wow, aren't you worried that it won't ever come down? Not really because again, I buy every day so like I just bought I when I sold at 21 I was buying a 21. So I bought a 21,000 21,500 22,000 23,000 24,000. No, it's not. No, sorry 22 Actually today, I bought almost 23,000 in three years Those seeds that I planted I'll harvest them later and that's it It just really comes down to you know, how many times you want to take profits along the way depends on how you feel I feel like there's a There's a dip coming somewhere Yeah, I got to run two memes says I got to run And I will save this Well, there's two things I want to say They buy tesla where to go ah I was listening to um there was uh It was I think it was on usa today or some news publication. They were talking to lawyers About ai and were they worried that ai was going to take their jobs They said no they go really what it's going to be is that You know ai won't take the jobs of lawyers What it will take the jobs of is the lawyers who don't use ai He goes we can use ai right now to make you know our our workload, you know horrendously are Magnificently lower and we can get a lot more things done by using ai the ones that don't figure it out know how to use it They're the ones that are going to suffer. It's the same thing with the internet It's the same thing with anybody any kind of technology that comes in. I don't fear ai. I've been using it It's working out pretty well so far. So all my different titles chat gbt Did those and uh edits and things like that. I've got a program It's an it's an ai program. It's called The heck is this called cap cut and it does all my edits now So of course my editor does it but uh, she's available to do like 10 times more edits. So That's the good thing and then lastly Rich j how do you track your cost basis? I'm pretty sure so like for this one. Let me see stop So I track it like this There's an easier way to do it But I haven't found it unfortunately. That's why I was hoping that uh coin ledger would do this stuff for me But they are stubborn and don't want to do it But uh, you can do it like this and just figure it out where it is sometimes I just eyeball it and go Okay, well, this is a good time time frame. Let's see if I'm in the money or not and just add it all up It kind of sucks But it helps out when you're you know got a couple grand In the bank account not doing anything and just sitting around there to be deployed. So that's it Yeah, before we take off I would recommend You guys are gonna take off. I don't get out of here. Whoops on one There's two videos They're gonna pop up after this Watch the video on the dca profits That's that there's a link in the description and this one was a good one The one with me guy and ben Is going over the strategies and what we think things are going it's a lot of a lot of good information to not Get too bearish and not get too bullish. It really kind of evens things out. I recommend both those after this, but that's That's it for me. I gotta do a bunch of stuff. So look that's it for today. Thanks so much for stopping by. I appreciate it If you liked the video thumbs up subscribe. I like this stuff We don't usually do live streams. We'll probably start doing these once a week just for giggles But usually it's just the news Condensed give you the things that you need to know so you can get in and out fast and get all your life That's it. So thanks so much for stopping by. I appreciate every one of you and I'll see you guys in the next one. Adios