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+WEBVTT
+Kind: captions
+Language: en
+
+ 
+ 
+I'm  going   to   answer   the   top   five 
+
+ 
+I'm going to answer the top five
+ 
+
+ 
+I'm going to answer the top five
+questions  that   investors   like   you   and   I 
+
+ 
+questions that investors like you and I
+ 
+
+ 
+questions that investors like you and I
+have  about   Bitcoin   mining   question   one 
+
+ 
+have about Bitcoin mining question one
+ 
+
+ 
+have about Bitcoin mining question one
+what  exactly   is   Bitcoin   mining   and   why 
+
+ 
+what exactly is Bitcoin mining and why
+ 
+
+ 
+what exactly is Bitcoin mining and why
+does  it   matter   the   answer   to   that   is 
+
+ 
+does it matter the answer to that is
+ 
+
+ 
+does it matter the answer to that is
+that  Bitcoin   is   an   international   digital 
+
+ 
+that Bitcoin is an international digital
+ 
+
+ 
+that Bitcoin is an international digital
+Financial  payments   Network   it   is   not 
+
+ 
+Financial payments Network it is not
+ 
+
+ 
+Financial payments Network it is not
+managed  by   a   country   company   or   an 
+
+ 
+managed by a country company or an
+ 
+
+ 
+managed by a country company or an
+individual  rather   what   Audits   and 
+
+ 
+individual rather what Audits and
+ 
+
+ 
+individual rather what Audits and
+secures  This   Global   Financial   Ledger   is 
+
+ 
+secures This Global Financial Ledger is
+ 
+
+ 
+secures This Global Financial Ledger is
+a  network   of   computers   all   around   the 
+
+ 
+a network of computers all around the
+ 
+
+ 
+a network of computers all around the
+world  these   computers   execute   an   energy 
+
+ 
+world these computers execute an energy
+ 
+
+ 
+world these computers execute an energy
+intensive  cryptographic   process   that 
+
+ 
+intensive cryptographic process that
+ 
+
+ 
+intensive cryptographic process that
+helps  make   the   Bitcoin   Network   safe   and 
+
+ 
+helps make the Bitcoin Network safe and
+ 
+
+ 
+helps make the Bitcoin Network safe and
+reliable  for   everybody   on   the   planet   to 
+
+ 
+reliable for everybody on the planet to
+ 
+
+ 
+reliable for everybody on the planet to
+use  as   compensation   for   the   electricity 
+
+ 
+use as compensation for the electricity
+ 
+
+ 
+use as compensation for the electricity
+that's  consumed   during   the   process   of 
+
+ 
+that's consumed during the process of
+ 
+
+ 
+that's consumed during the process of
+Bitcoin  mining   that   Miner   is   rewarded 
+
+ 
+Bitcoin mining that Miner is rewarded
+ 
+
+ 
+Bitcoin mining that Miner is rewarded
+with  newly   minted   Bitcoin   and   the 
+
+ 
+with newly minted Bitcoin and the
+ 
+
+ 
+with newly minted Bitcoin and the
+transaction  fees   of   the   transactions 
+
+ 
+transaction fees of the transactions
+ 
+
+ 
+transaction fees of the transactions
+that  they   help   to   settle   because   newly 
+
+ 
+that they help to settle because newly
+ 
+
+ 
+that they help to settle because newly
+minted  Bitcoin   is   an   aspect   of   the 
+
+ 
+minted Bitcoin is an aspect of the
+ 
+
+ 
+minted Bitcoin is an aspect of the
+reward  that   miners   get   people   have   begun 
+
+ 
+reward that miners get people have begun
+ 
+
+ 
+reward that miners get people have begun
+to  call   this   process   Bitcoin   mining   as 
+
+ 
+to call this process Bitcoin mining as
+ 
+
+ 
+to call this process Bitcoin mining as
+if  they   were   mining   something   out   of   the 
+
+ 
+if they were mining something out of the
+ 
+
+ 
+if they were mining something out of the
+ground  question   two   how   much   does   it 
+
+ 
+ground question two how much does it
+ 
+
+ 
+ground question two how much does it
+actually  cost   to   start   mining   Bitcoin 
+
+ 
+actually cost to start mining Bitcoin
+ 
+
+ 
+actually cost to start mining Bitcoin
+this  is   where   it   gets   interesting   for   me 
+
+ 
+this is where it gets interesting for me
+ 
+
+ 
+this is where it gets interesting for me
+and  my   experience   in   real   estate   you've 
+
+ 
+and my experience in real estate you've
+ 
+
+ 
+and my experience in real estate you've
+got  to   have   things   like   down   payments 
+
+ 
+got to have things like down payments
+ 
+
+ 
+got to have things like down payments
+closing  fees   rehab   costs   depending   on 
+
+ 
+closing fees rehab costs depending on
+ 
+
+ 
+closing fees rehab costs depending on
+what  kind   of   condition   you   get   the 
+
+ 
+what kind of condition you get the
+ 
+
+ 
+what kind of condition you get the
+property  in   and   it   may   cost   you   several 
+
+ 
+property in and it may cost you several
+ 
+
+ 
+property in and it may cost you several
+$1,000  to   close   on   a   property   in   Bitcoin 
+
+ 
+$1,000 to close on a property in Bitcoin
+ 
+
+ 
+$1,000 to close on a property in Bitcoin
+mining  there's   really   just   one   big 
+
+ 
+mining there's really just one big
+ 
+
+ 
+mining there's really just one big
+upfront  cost   and   that   is   the   hardware   or 
+
+ 
+upfront cost and that is the hardware or
+ 
+
+ 
+upfront cost and that is the hardware or
+the  computers   themselves   these   are 
+
+ 
+the computers themselves these are
+ 
+
+ 
+the computers themselves these are
+specialized  machines   called   Asic   Miners 
+
+ 
+specialized machines called Asic Miners
+ 
+
+ 
+specialized machines called Asic Miners
+and  they're   really   just   a   different   kind 
+
+ 
+and they're really just a different kind
+ 
+
+ 
+and they're really just a different kind
+of  server   after   you   buy   the   server   up 
+
+ 
+of server after you buy the server up
+ 
+
+ 
+of server after you buy the server up
+front  the   only   ongoing   cost   that   you 
+
+ 
+front the only ongoing cost that you
+ 
+
+ 
+front the only ongoing cost that you
+have  is   your   electricity   bill   if   you 
+
+ 
+have is your electricity bill if you
+ 
+
+ 
+have is your electricity bill if you
+host  with   a   solid   provider   your 
+
+ 
+host with a solid provider your
+ 
+
+ 
+host with a solid provider your
+electricity  cost   can   stay   low   enough 
+
+ 
+electricity cost can stay low enough
+ 
+
+ 
+electricity cost can stay low enough
+that  you   make   a   nice   profit   every   month 
+
+ 
+that you make a nice profit every month
+ 
+
+ 
+that you make a nice profit every month
+but  if   you   try   mining   at   home   you   might 
+
+ 
+but if you try mining at home you might
+ 
+
+ 
+but if you try mining at home you might
+end  up   paying   more   in   electricity   than 
+
+ 
+end up paying more in electricity than
+ 
+
+ 
+end up paying more in electricity than
+you  actually   earn   in   Bitcoin   which   is 
+
+ 
+you actually earn in Bitcoin which is
+ 
+
+ 
+you actually earn in Bitcoin which is
+why  this   industry   is   so   competitive 
+
+ 
+why this industry is so competitive
+ 
+
+ 
+why this industry is so competitive
+people  mining   at   home   unless   they're 
+
+ 
+people mining at home unless they're
+ 
+
+ 
+people mining at home unless they're
+willing  to   mine   at   a   loss   and   hold   the 
+
+ 
+willing to mine at a loss and hold the
+ 
+
+ 
+willing to mine at a loss and hold the
+coin  for   a   long   time   aren't   likely   to   be 
+
+ 
+coin for a long time aren't likely to be
+ 
+
+ 
+coin for a long time aren't likely to be
+extremely  competitive   over   the   long   term 
+
+ 
+extremely competitive over the long term
+ 
+
+ 
+extremely competitive over the long term
+it  really   is   all   about   chasing   cheap 
+
+ 
+it really is all about chasing cheap
+ 
+
+ 
+it really is all about chasing cheap
+electricity  to   get   started   in   mining   you 
+
+ 
+electricity to get started in mining you
+ 
+
+ 
+electricity to get started in mining you
+might  need   around   $10,000   on   the   low   end 
+
+ 
+might need around $10,000 on the low end
+ 
+
+ 
+might need around $10,000 on the low end
+if  you're   going   to   get   Quality   Equipment 
+
+ 
+if you're going to get Quality Equipment
+ 
+
+ 
+if you're going to get Quality Equipment
+and  a   quality   hosting   provider   but   you 
+
+ 
+and a quality hosting provider but you
+ 
+
+ 
+and a quality hosting provider but you
+can  go   up   to   a   million   dollar   or   more   if 
+
+ 
+can go up to a million dollar or more if
+ 
+
+ 
+can go up to a million dollar or more if
+you're  looking   to   go   big   and   generate 
+
+ 
+you're looking to go big and generate
+ 
+
+ 
+you're looking to go big and generate
+some  serious   passive   income   unlike   real 
+
+ 
+some serious passive income unlike real
+ 
+
+ 
+some serious passive income unlike real
+estate  though   it's   flexible   so   you   can 
+
+ 
+estate though it's flexible so you can
+ 
+
+ 
+estate though it's flexible so you can
+start  at   the   level   of   your   budget   you 
+
+ 
+start at the level of your budget you
+ 
+
+ 
+start at the level of your budget you
+don't  have   to   get   an   entire   property   for 
+
+ 
+don't have to get an entire property for
+ 
+
+ 
+don't have to get an entire property for
+sever  100,000   you   can   get   one   machine 
+
+ 
+sever 100,000 you can get one machine
+ 
+
+ 
+sever 100,000 you can get one machine
+five  machines   10   100   whatever   is 
+
+ 
+five machines 10 100 whatever is
+ 
+
+ 
+five machines 10 100 whatever is
+available  to   you   at   that   time   and   scale 
+
+ 
+available to you at that time and scale
+ 
+
+ 
+available to you at that time and scale
+up  or   down   as   you   see   fit   question   three 
+
+ 
+up or down as you see fit question three
+ 
+
+ 
+up or down as you see fit question three
+what  kind   of   returns   can   I   expect   and 
+
+ 
+what kind of returns can I expect and
+ 
+
+ 
+what kind of returns can I expect and
+how  passive   is   this   really   this   is 
+
+ 
+how passive is this really this is
+ 
+
+ 
+how passive is this really this is
+really  the   big   question   of   all   of   them 
+
+ 
+really the big question of all of them
+ 
+
+ 
+really the big question of all of them
+your  profit   in   Bitcoin   mining   depends   on 
+
+ 
+your profit in Bitcoin mining depends on
+ 
+
+ 
+your profit in Bitcoin mining depends on
+a  few   things   one   is   how   efficient   your 
+
+ 
+a few things one is how efficient your
+ 
+
+ 
+a few things one is how efficient your
+machine  is   and   two   is   what   you're   paying 
+
+ 
+machine is and two is what you're paying
+ 
+
+ 
+machine is and two is what you're paying
+for  an   electricity   and   hosting   costs 
+
+ 
+for an electricity and hosting costs
+ 
+
+ 
+for an electricity and hosting costs
+maintenance  also   plays   a   factor   in   this 
+
+ 
+maintenance also plays a factor in this
+ 
+
+ 
+maintenance also plays a factor in this
+but  if   you're   working   with   someone   like 
+
+ 
+but if you're working with someone like
+ 
+
+ 
+but if you're working with someone like
+us  regular   maintenance   and   repair   on 
+
+ 
+us regular maintenance and repair on
+ 
+
+ 
+us regular maintenance and repair on
+small  components   is   included   in   your 
+
+ 
+small components is included in your
+ 
+
+ 
+small components is included in your
+hosting  rate   if   you're   hosting   with 
+
+ 
+hosting rate if you're hosting with
+ 
+
+ 
+hosting rate if you're hosting with
+someone  reliable   you   might   see   around   a 
+
+ 
+someone reliable you might see around a
+ 
+
+ 
+someone reliable you might see around a
+30%  return   on   your   investment   every   year 
+
+ 
+30% return on your investment every year
+ 
+
+ 
+30% return on your investment every year
+and  that's   not   even   considering   the 
+
+ 
+and that's not even considering the
+ 
+
+ 
+and that's not even considering the
+price  of   Bitcoin   which   has   historically 
+
+ 
+price of Bitcoin which has historically
+ 
+
+ 
+price of Bitcoin which has historically
+gone  up   by   about   50%   a   year   on   on 
+
+ 
+gone up by about 50% a year on on
+ 
+
+ 
+gone up by about 50% a year on on
+average  over   the   last   15   years   the   main 
+
+ 
+average over the last 15 years the main
+ 
+
+ 
+average over the last 15 years the main
+risks  are   that   your   machine   could   have   a 
+
+ 
+risks are that your machine could have a
+ 
+
+ 
+risks are that your machine could have a
+technical  issue   or   there   could   be   a 
+
+ 
+technical issue or there could be a
+ 
+
+ 
+technical issue or there could be a
+power  outage   but   again   if   you're   working 
+
+ 
+power outage but again if you're working
+ 
+
+ 
+power outage but again if you're working
+with  a   good   hosting   provider   on   this 
+
+ 
+with a good hosting provider on this
+ 
+
+ 
+with a good hosting provider on this
+they  will   handle   those   problems   for   you 
+
+ 
+they will handle those problems for you
+ 
+
+ 
+they will handle those problems for you
+so  yes   this   really   can   be   passive   you 
+
+ 
+so yes this really can be passive you
+ 
+
+ 
+so yes this really can be passive you
+just  buy   the   machines   they   get   plugged 
+
+ 
+just buy the machines they get plugged
+ 
+
+ 
+just buy the machines they get plugged
+in  and   you're   getting   paid   247   365   days 
+
+ 
+in and you're getting paid 247 365 days
+ 
+
+ 
+in and you're getting paid 247 365 days
+a  year   with   no   maintenance   no   tenants 
+
+ 
+a year with no maintenance no tenants
+ 
+
+ 
+a year with no maintenance no tenants
+and  no   issues   that   you   have   to   deal   with 
+
+ 
+and no issues that you have to deal with
+ 
+
+ 
+and no issues that you have to deal with
+question  four   is   Bitcoin   mining 
+
+ 
+question four is Bitcoin mining
+ 
+
+ 
+question four is Bitcoin mining
+environmentally  unfriendly   this   is   an 
+
+ 
+environmentally unfriendly this is an
+ 
+
+ 
+environmentally unfriendly this is an
+important  question   one   that   comes   up   a 
+
+ 
+important question one that comes up a
+ 
+
+ 
+important question one that comes up a
+lot  unfortunately   it's   very   much 
+
+ 
+lot unfortunately it's very much
+ 
+
+ 
+lot unfortunately it's very much
+misunderstood  at   first   glance   it   seems 
+
+ 
+misunderstood at first glance it seems
+ 
+
+ 
+misunderstood at first glance it seems
+like  a   bunch   of   computers   consuming 
+
+ 
+like a bunch of computers consuming
+ 
+
+ 
+like a bunch of computers consuming
+massive  amounts   of   energy   must   be   bad 
+
+ 
+massive amounts of energy must be bad
+ 
+
+ 
+massive amounts of energy must be bad
+for  the   environment   and   it's   true 
+
+ 
+for the environment and it's true
+ 
+
+ 
+for the environment and it's true
+Bitcoin  mining   does   use   a   lot   of   power 
+
+ 
+Bitcoin mining does use a lot of power
+ 
+
+ 
+Bitcoin mining does use a lot of power
+but  this   is   the   twist   because   our 
+
+ 
+but this is the twist because our
+ 
+
+ 
+but this is the twist because our
+electricity  costs   directly   affect 
+
+ 
+electricity costs directly affect
+ 
+
+ 
+electricity costs directly affect
+profits  Bitcoin   miners   are   highly 
+
+ 
+profits Bitcoin miners are highly
+ 
+
+ 
+profits Bitcoin miners are highly
+motivated  to   find   the   cheapest   energy 
+
+ 
+motivated to find the cheapest energy
+ 
+
+ 
+motivated to find the cheapest energy
+possible  and   the   cheapest   energy   usually 
+
+ 
+possible and the cheapest energy usually
+ 
+
+ 
+possible and the cheapest energy usually
+is  coming   from   renewable   sources   like 
+
+ 
+is coming from renewable sources like
+ 
+
+ 
+is coming from renewable sources like
+wind  Hydro   or   solar   this   is   the   other 
+
+ 
+wind Hydro or solar this is the other
+ 
+
+ 
+wind Hydro or solar this is the other
+interesting  part   that   Bitcoin   miners   can 
+
+ 
+interesting part that Bitcoin miners can
+ 
+
+ 
+interesting part that Bitcoin miners can
+actually  help   to   reduce   waste   in   the 
+
+ 
+actually help to reduce waste in the
+ 
+
+ 
+actually help to reduce waste in the
+energy  market   for   example   there's   a   lot 
+
+ 
+energy market for example there's a lot
+ 
+
+ 
+energy market for example there's a lot
+of  energy   out   there   that   gets   produced 
+
+ 
+of energy out there that gets produced
+ 
+
+ 
+of energy out there that gets produced
+but  never   used   maybe   there's   too   much 
+
+ 
+but never used maybe there's too much
+ 
+
+ 
+but never used maybe there's too much
+wind  or   solar   power   production   on   a 
+
+ 
+wind or solar power production on a
+ 
+
+ 
+wind or solar power production on a
+given  day   and   traditionally   this   unused 
+
+ 
+given day and traditionally this unused
+ 
+
+ 
+given day and traditionally this unused
+energy  would   go   wasted   because   there's 
+
+ 
+energy would go wasted because there's
+ 
+
+ 
+energy would go wasted because there's
+no  buyer   for   it   but   Bitcoin   miners   can 
+
+ 
+no buyer for it but Bitcoin miners can
+ 
+
+ 
+no buyer for it but Bitcoin miners can
+actually  step   in   and   buy   that   energy   at 
+
+ 
+actually step in and buy that energy at
+ 
+
+ 
+actually step in and buy that energy at
+a  discount   using   it   to   power   their 
+
+ 
+a discount using it to power their
+ 
+
+ 
+a discount using it to power their
+operations  so   instead   of   Bitcoin   miners 
+
+ 
+operations so instead of Bitcoin miners
+ 
+
+ 
+operations so instead of Bitcoin miners
+using  polluting   energy   sources   or 
+
+ 
+using polluting energy sources or
+ 
+
+ 
+using polluting energy sources or
+letting  energy   go   to   waste   that's 
+
+ 
+letting energy go to waste that's
+ 
+
+ 
+letting energy go to waste that's
+produced  unnecessarily   that   energy   is 
+
+ 
+produced unnecessarily that energy is
+ 
+
+ 
+produced unnecessarily that energy is
+actually  put   to   to   work   this   also   drives 
+
+ 
+actually put to to work this also drives
+ 
+
+ 
+actually put to to work this also drives
+the  investment   into   renewable   energy 
+
+ 
+the investment into renewable energy
+ 
+
+ 
+the investment into renewable energy
+forward  as   it   makes   these   operations 
+
+ 
+forward as it makes these operations
+ 
+
+ 
+forward as it makes these operations
+more  profitable   than   they   were   before 
+
+ 
+more profitable than they were before
+ 
+
+ 
+more profitable than they were before
+the  existence   of   Bitcoin   another   example 
+
+ 
+the existence of Bitcoin another example
+ 
+
+ 
+the existence of Bitcoin another example
+that  people   usually   aren't   familiar   with 
+
+ 
+that people usually aren't familiar with
+ 
+
+ 
+that people usually aren't familiar with
+is  natural   gas   that's   either   flared 
+
+ 
+is natural gas that's either flared
+ 
+
+ 
+is natural gas that's either flared
+which  means   burned   off   during   the 
+
+ 
+which means burned off during the
+ 
+
+ 
+which means burned off during the
+production  of   oil   this   flared   gas   is 
+
+ 
+production of oil this flared gas is
+ 
+
+ 
+production of oil this flared gas is
+usually  wasted   but   some   mining   operators 
+
+ 
+usually wasted but some mining operators
+ 
+
+ 
+usually wasted but some mining operators
+are  now   capturing   it   and   using   it   to 
+
+ 
+are now capturing it and using it to
+ 
+
+ 
+are now capturing it and using it to
+power  their   rigs   instead   not   only   does 
+
+ 
+power their rigs instead not only does
+ 
+
+ 
+power their rigs instead not only does
+this  process   reduce   the   pollution   but   it 
+
+ 
+this process reduce the pollution but it
+ 
+
+ 
+this process reduce the pollution but it
+also  makes   fossil   fuel   production 
+
+ 
+also makes fossil fuel production
+ 
+
+ 
+also makes fossil fuel production
+cleaner  and   more   efficient   removing 
+
+ 
+cleaner and more efficient removing
+ 
+
+ 
+cleaner and more efficient removing
+methane  from   the   atmosphere   which   is   25 
+
+ 
+methane from the atmosphere which is 25
+ 
+
+ 
+methane from the atmosphere which is 25
+to  85   times   worse   than   carbon   dioxide   so 
+
+ 
+to 85 times worse than carbon dioxide so
+ 
+
+ 
+to 85 times worse than carbon dioxide so
+the  answer   is   yes   Bitcoin   mining   does 
+
+ 
+the answer is yes Bitcoin mining does
+ 
+
+ 
+the answer is yes Bitcoin mining does
+have  an   environmental   impact   but   it's 
+
+ 
+have an environmental impact but it's
+ 
+
+ 
+have an environmental impact but it's
+not  as   straightforward   as   it   seems   and 
+
+ 
+not as straightforward as it seems and
+ 
+
+ 
+not as straightforward as it seems and
+it's  largely   positive   the   incentives   in 
+
+ 
+it's largely positive the incentives in
+ 
+
+ 
+it's largely positive the incentives in
+mining  actually   drive   a   shift   towards 
+
+ 
+mining actually drive a shift towards
+ 
+
+ 
+mining actually drive a shift towards
+cleaner  cheaper   energy   and   reduce   waste 
+
+ 
+cleaner cheaper energy and reduce waste
+ 
+
+ 
+cleaner cheaper energy and reduce waste
+throughout  the   entire   system   and   the 
+
+ 
+throughout the entire system and the
+ 
+
+ 
+throughout the entire system and the
+industry  is   innovating   extremely   quickly 
+
+ 
+industry is innovating extremely quickly
+ 
+
+ 
+industry is innovating extremely quickly
+to  make   the   process   even   more 
+
+ 
+to make the process even more
+ 
+
+ 
+to make the process even more
+sustainable  as   time   goes   on   question 
+
+ 
+sustainable as time goes on question
+ 
+
+ 
+sustainable as time goes on question
+five  how   does   Bitcoin   mining   compare   to 
+
+ 
+five how does Bitcoin mining compare to
+ 
+
+ 
+five how does Bitcoin mining compare to
+real  estate   as   an   investment   the   answer 
+
+ 
+real estate as an investment the answer
+ 
+
+ 
+real estate as an investment the answer
+is  in   real   estate   you're   typically 
+
+ 
+is in real estate you're typically
+ 
+
+ 
+is in real estate you're typically
+buying  a   property   that   earns   you   rental 
+
+ 
+buying a property that earns you rental
+ 
+
+ 
+buying a property that earns you rental
+income  and   over   time   the   property   is 
+
+ 
+income and over time the property is
+ 
+
+ 
+income and over time the property is
+what's  depreciating   in   value   with 
+
+ 
+what's depreciating in value with
+ 
+
+ 
+what's depreciating in value with
+Bitcoin  mining   it's   essentially   the 
+
+ 
+Bitcoin mining it's essentially the
+ 
+
+ 
+Bitcoin mining it's essentially the
+opposite  you're   buying   equipment   which 
+
+ 
+opposite you're buying equipment which
+ 
+
+ 
+opposite you're buying equipment which
+is  what   you're   depreciating   and   lose 
+
+ 
+is what you're depreciating and lose
+ 
+
+ 
+is what you're depreciating and lose
+value  year   toe   and   then   as   compensation 
+
+ 
+value year toe and then as compensation
+ 
+
+ 
+value year toe and then as compensation
+you're  receiving   Returns   on   your 
+
+ 
+you're receiving Returns on your
+ 
+
+ 
+you're receiving Returns on your
+investment  in   the   form   of   Bitcoin   so 
+
+ 
+investment in the form of Bitcoin so
+ 
+
+ 
+investment in the form of Bitcoin so
+whereas  you   would   buy   a   house   collect 
+
+ 
+whereas you would buy a house collect
+ 
+
+ 
+whereas you would buy a house collect
+rent  and   expect   the   house   to   appreciate 
+
+ 
+rent and expect the house to appreciate
+ 
+
+ 
+rent and expect the house to appreciate
+when  you   buy   a   Bitcoin   miner   the   Bitcoin 
+
+ 
+when you buy a Bitcoin miner the Bitcoin
+ 
+
+ 
+when you buy a Bitcoin miner the Bitcoin
+miners  depreciating   but   you   expect   the 
+
+ 
+miners depreciating but you expect the
+ 
+
+ 
+miners depreciating but you expect the
+Bitcoin  itself   to   appreciate   your 
+
+ 
+Bitcoin itself to appreciate your
+ 
+
+ 
+Bitcoin itself to appreciate your
+Bitcoin  once   you   produce   it   can   be   held 
+
+ 
+Bitcoin once you produce it can be held
+ 
+
+ 
+Bitcoin once you produce it can be held
+or  it   can   be   liquidated   at   will   so   if 
+
+ 
+or it can be liquidated at will so if
+ 
+
+ 
+or it can be liquidated at will so if
+you  don't   have   a   long-term   time   Horizon 
+
+ 
+you don't have a long-term time Horizon
+ 
+
+ 
+you don't have a long-term time Horizon
+on  holding   your   Bitcoin   you   can 
+
+ 
+on holding your Bitcoin you can
+ 
+
+ 
+on holding your Bitcoin you can
+obviously  just   liquidate   it   for   cash 
+
+ 
+obviously just liquidate it for cash
+ 
+
+ 
+obviously just liquidate it for cash
+flow  real   estate   usually   offers   more 
+
+ 
+flow real estate usually offers more
+ 
+
+ 
+flow real estate usually offers more
+stability  due   to   how   common   it   is   as   an 
+
+ 
+stability due to how common it is as an
+ 
+
+ 
+stability due to how common it is as an
+investment  vehicle   that   Bitcoin   mining 
+
+ 
+investment vehicle that Bitcoin mining
+ 
+
+ 
+investment vehicle that Bitcoin mining
+on  the   other   hand   is   a   relatively 
+
+ 
+on the other hand is a relatively
+ 
+
+ 
+on the other hand is a relatively
+untapped  business   opportunity   that   has 
+
+ 
+untapped business opportunity that has
+ 
+
+ 
+untapped business opportunity that has
+really  high   growth   potential   Bitcoin 
+
+ 
+really high growth potential Bitcoin
+ 
+
+ 
+really high growth potential Bitcoin
+mining  also   has   no   tenant   risk   no 
+
+ 
+mining also has no tenant risk no
+ 
+
+ 
+mining also has no tenant risk no
+property  tax   and   is   extremely   mobile   the 
+
+ 
+property tax and is extremely mobile the
+ 
+
+ 
+property tax and is extremely mobile the
+machines  that   you   purchase   can   also   be 
+
+ 
+machines that you purchase can also be
+ 
+
+ 
+machines that you purchase can also be
+used  as   a   tax   write   off   similar   to   capex 
+
+ 
+used as a tax write off similar to capex
+ 
+
+ 
+used as a tax write off similar to capex
+on  your   properties   with   any   new 
+
+ 
+on your properties with any new
+ 
+
+ 
+on your properties with any new
+technology  like   this   there   is   a   bit   of   a 
+
+ 
+technology like this there is a bit of a
+ 
+
+ 
+technology like this there is a bit of a
+learning  curve   however   with   a   capable 
+
+ 
+learning curve however with a capable
+ 
+
+ 
+learning curve however with a capable
+hosting  provider   and   phenomenal   service 
+
+ 
+hosting provider and phenomenal service
+ 
+
+ 
+hosting provider and phenomenal service
+Bitcoin  mining   can   be   a   far   more 
+
+ 
+Bitcoin mining can be a far more
+ 
+
+ 
+Bitcoin mining can be a far more
+profitable  and   hands   off   passive   income 
+
+ 
+profitable and hands off passive income
+ 
+
+ 
+profitable and hands off passive income
+Opportunity  by   comparison   to   rental   real 
+
+ 
+Opportunity by comparison to rental real
+ 
+
+ 
+Opportunity by comparison to rental real
+estate  at   abundant   Minds   we're   pretty 
+
+ 
+estate at abundant Minds we're pretty
+ 
+
+ 
+estate at abundant Minds we're pretty
+selective  about   who   we   work   with   but   if 
+
+ 
+selective about who we work with but if
+ 
+
+ 
+selective about who we work with but if
+you've  watched   this   and   you   think   that 
+
+ 
+you've watched this and you think that
+ 
+
+ 
+you've watched this and you think that
+it  could   be   a   fit   for   you   visit   us   at 
+
+ 
+it could be a fit for you visit us at
+ 
+
+ 
+it could be a fit for you visit us at
+abundant  minds.com   or   follow   us   on 
+
+ 
+abundant minds.com or follow us on
+ 
+
+ 
+abundant minds.com or follow us on
+Twitter  or   Instagram   @   abundant   minds 
+
+ 
+Twitter or Instagram @ abundant minds
+ 
+
+ 
+Twitter or Instagram @ abundant minds
+and  message   us   passive   to   set   up   a 
+
+ 
+and message us passive to set up a
+ 
+
+ 
+and message us passive to set up a
+consultation  and   get   our   free   resources 
+
+ 
+consultation and get our free resources
+ 
+
+ 
+consultation and get our free resources
+to  see   if   this   could   be   a   good   fit   for 
+
+ 
+to see if this could be a good fit for
+ 
+
+ 
+to see if this could be a good fit for
+your  next   step   in   your   investment 
+
+ 
+your next step in your investment
+ 
+
+ 
+your next step in your investment
+Journey  also   please   remember   to   like 
+
+ 
+Journey also please remember to like
+ 
+
+ 
+Journey also please remember to like
+subscribe  and   leave   a   comment   with   what 
+
+ 
+subscribe and leave a comment with what
+ 
+
+ 
+subscribe and leave a comment with what
+was  most   helpful   for   you   thanks   for 
+
+ 
+was most helpful for you thanks for
+ 
+
+ 
+was most helpful for you thanks for
+watching
+
+ 
+watching
+ 
+
+ 
+watching
+[Music]
+
diff --git a/context/Bitcoin Miners Pay 90% LESS Taxes… Here’s How!.en-orig.txt b/context/Bitcoin Miners Pay 90% LESS Taxes… Here’s How!.en-orig.txt
new file mode 100644
index 0000000..5ffabe9
--- /dev/null
+++ b/context/Bitcoin Miners Pay 90% LESS Taxes… Here’s How!.en-orig.txt	
@@ -0,0 +1,1861 @@
+WEBVTT
+Kind: captions
+Language: en
+
+  
+did   you   know   that   some   Bitcoin   miners  
+
+ did you know that some Bitcoin miners
+ 
+
+ did you know that some Bitcoin miners
+pay   virtually   zero   taxes   despite  
+
+ pay virtually zero taxes despite
+ 
+
+ pay virtually zero taxes despite
+generating   six   or   even   seven   figures   in  
+
+ generating six or even seven figures in
+ 
+
+ generating six or even seven figures in
+Bitcoin   just   like   the   most   successful  
+
+ Bitcoin just like the most successful
+ 
+
+ Bitcoin just like the most successful
+builders   of   wealth   in   the   world   it's   not  
+
+ builders of wealth in the world it's not
+ 
+
+ builders of wealth in the world it's not
+because   they're   breaking   the   law   It's  
+
+ because they're breaking the law It's
+ 
+
+ because they're breaking the law It's
+because   they   understand   something   that  
+
+ because they understand something that
+ 
+
+ because they understand something that
+most   miners   don't   You   see   Bitcoin   mining  
+
+ most miners don't You see Bitcoin mining
+ 
+
+ most miners don't You see Bitcoin mining
+isn't   just   a   way   to   earn   crypto   It's   one  
+
+ isn't just a way to earn crypto It's one
+ 
+
+ isn't just a way to earn crypto It's one
+of   the   most   tax   advantaged   businesses  
+
+ of the most tax advantaged businesses
+ 
+
+ of the most tax advantaged businesses
+that   you   can   run   today   I   recently   worked  
+
+ that you can run today I recently worked
+ 
+
+ that you can run today I recently worked
+with   a   client   named   Dean   who   was   about  
+
+ with a client named Dean who was about
+ 
+
+ with a client named Dean who was about
+to   pay   taxes   on   over   $400,000   of   income  
+
+ to pay taxes on over $400,000 of income
+ 
+
+ to pay taxes on over $400,000 of income
+which   was   350,000   more   than   he   needed   to  
+
+ which was 350,000 more than he needed to
+ 
+
+ which was 350,000 more than he needed to
+on   his   mining   operation   That   is   until   we  
+
+ on his mining operation That is until we
+ 
+
+ on his mining operation That is until we
+restructured   his   approach   By   the   time   we  
+
+ restructured his approach By the time we
+ 
+
+ restructured his approach By the time we
+finished   his   taxable   income   dropped   to  
+
+ finished his taxable income dropped to
+ 
+
+ finished his taxable income dropped to
+under
+
+ under
+ 
+
+ under
+$50,000   completely   legally   And   in   this  
+
+ $50,000 completely legally And in this
+ 
+
+ $50,000 completely legally And in this
+video   I'm   going   to   show   you   exactly   how  
+
+ video I'm going to show you exactly how
+ 
+
+ video I'm going to show you exactly how
+Bitcoin   mining   can   be   a   tax   gold   mine  
+
+ Bitcoin mining can be a tax gold mine
+ 
+
+ Bitcoin mining can be a tax gold mine
+when   structured   properly   as   a   business  
+
+ when structured properly as a business
+ 
+
+ when structured properly as a business
+Whether   you're   mining   from   your  
+
+ Whether you're mining from your
+ 
+
+ Whether you're mining from your
+apartment   with   a   single   rig   or   running   a  
+
+ apartment with a single rig or running a
+ 
+
+ apartment with a single rig or running a
+warehouse   full   of   AS6   these   strategies  
+
+ warehouse full of AS6 these strategies
+ 
+
+ warehouse full of AS6 these strategies
+could   save   you   thousands   or   even  
+
+ could save you thousands or even
+ 
+
+ could save you thousands or even
+hundreds   of   thousands   of   dollars   Let's  
+
+ hundreds of thousands of dollars Let's
+ 
+
+ hundreds of thousands of dollars Let's
+dive   into   the   world   of   Bitcoin   mining  
+
+ dive into the world of Bitcoin mining
+ 
+
+ dive into the world of Bitcoin mining
+taxes   where   understanding   the   rules  
+
+ taxes where understanding the rules
+ 
+
+ taxes where understanding the rules
+doesn't   just   keep   you   compliant   it   can  
+
+ doesn't just keep you compliant it can
+ 
+
+ doesn't just keep you compliant it can
+dramatically   boost   your   bottom   line  
+
+ dramatically boost your bottom line
+ 
+
+ dramatically boost your bottom line
+Quick   but   important   disclaimer   I   am   not  
+
+ Quick but important disclaimer I am not
+ 
+
+ Quick but important disclaimer I am not
+a   tax   professional   This   video   is   for  
+
+ a tax professional This video is for
+ 
+
+ a tax professional This video is for
+educational   purposes   only   Always   consult  
+
+ educational purposes only Always consult
+ 
+
+ educational purposes only Always consult
+with   a   qualified   tax   adviser   before  
+
+ with a qualified tax adviser before
+ 
+
+ with a qualified tax adviser before
+implementing   any   tax   strategies   Your  
+
+ implementing any tax strategies Your
+ 
+
+ implementing any tax strategies Your
+situation   may   differ   Now   let's   dive   into  
+
+ situation may differ Now let's dive into
+ 
+
+ situation may differ Now let's dive into
+how   mining   taxes   actually   work   Let's  
+
+ how mining taxes actually work Let's
+ 
+
+ how mining taxes actually work Let's
+start   with   the   basics   of   how   mining   is  
+
+ start with the basics of how mining is
+ 
+
+ start with the basics of how mining is
+taxed   because   this   framework   is   the  
+
+ taxed because this framework is the
+ 
+
+ taxed because this framework is the
+foundation   for   all   advantages   that   I'll  
+
+ foundation for all advantages that I'll
+ 
+
+ foundation for all advantages that I'll
+show   you   later   When   you   mine   Bitcoin   the  
+
+ show you later When you mine Bitcoin the
+ 
+
+ show you later When you mine Bitcoin the
+IRS   views   this   activity   in   one   of   two  
+
+ IRS views this activity in one of two
+ 
+
+ IRS views this activity in one of two
+ways   Either   as   a   hobby   or   as   a   business  
+
+ ways Either as a hobby or as a business
+ 
+
+ ways Either as a hobby or as a business
+This   distinction   is   absolutely   crucial  
+
+ This distinction is absolutely crucial
+ 
+
+ This distinction is absolutely crucial
+for   your   tax   situation   If   your   mining   is  
+
+ for your tax situation If your mining is
+ 
+
+ for your tax situation If your mining is
+classified   as   a   hobby   you'll   still   owe  
+
+ classified as a hobby you'll still owe
+ 
+
+ classified as a hobby you'll still owe
+taxes   on   every   coin   that   you   mine   at   its  
+
+ taxes on every coin that you mine at its
+ 
+
+ taxes on every coin that you mine at its
+fair   market   value   when   received   But  
+
+ fair market value when received But
+ 
+
+ fair market value when received But
+here's   the   problem   Since   the   2018   tax  
+
+ here's the problem Since the 2018 tax
+ 
+
+ here's the problem Since the 2018 tax
+law   changes   hobby   expenses   are  
+
+ law changes hobby expenses are
+ 
+
+ law changes hobby expenses are
+essentially   non-deductible   for   most  
+
+ essentially non-deductible for most
+ 
+
+ essentially non-deductible for most
+people   However   when   your   mining  
+
+ people However when your mining
+ 
+
+ people However when your mining
+qualifies   as   a   business   everything  
+
+ qualifies as a business everything
+ 
+
+ qualifies as a business everything
+changes   You   still   report   the   fair   market  
+
+ changes You still report the fair market
+ 
+
+ changes You still report the fair market
+value   of   mined   coins   as   income   but   now  
+
+ value of mined coins as income but now
+ 
+
+ value of mined coins as income but now
+you   can   deduct   all   of   your   legitimate  
+
+ you can deduct all of your legitimate
+ 
+
+ you can deduct all of your legitimate
+business   expenses   electricity   equipment  
+
+ business expenses electricity equipment
+ 
+
+ business expenses electricity equipment
+repairs   space   rental   internet   cooling  
+
+ repairs space rental internet cooling
+ 
+
+ repairs space rental internet cooling
+costs   and   more   The   IRS   looks   at   several  
+
+ costs and more The IRS looks at several
+ 
+
+ costs and more The IRS looks at several
+factors   to   determine   if   you're   a  
+
+ factors to determine if you're a
+ 
+
+ factors to determine if you're a
+business   Do   you   maintain   complete  
+
+ business Do you maintain complete
+ 
+
+ business Do you maintain complete
+records   are   you   mining   with   the  
+
+ records are you mining with the
+ 
+
+ records are you mining with the
+intention   of   making   a   profit   do   you   put  
+
+ intention of making a profit do you put
+ 
+
+ intention of making a profit do you put
+significant   time   and   effort   into   it   have  
+
+ significant time and effort into it have
+ 
+
+ significant time and effort into it have
+you   made   changes   to   improve  
+
+ you made changes to improve
+ 
+
+ you made changes to improve
+profitability   most   dedicated   miners  
+
+ profitability most dedicated miners
+ 
+
+ profitability most dedicated miners
+easily   qualify   as   businesses   once   they  
+
+ easily qualify as businesses once they
+ 
+
+ easily qualify as businesses once they
+understand   these   requirements   and   that's  
+
+ understand these requirements and that's
+ 
+
+ understand these requirements and that's
+when   the   real   tax   advantages   begin   to  
+
+ when the real tax advantages begin to
+ 
+
+ when the real tax advantages begin to
+emerge   Here's   where   mining   as   a   business  
+
+ emerge Here's where mining as a business
+ 
+
+ emerge Here's where mining as a business
+really   shines   Let   me   walk   you   through  
+
+ really shines Let me walk you through
+ 
+
+ really shines Let me walk you through
+the   key   tax   advantages   that   Bitcoin  
+
+ the key tax advantages that Bitcoin
+ 
+
+ the key tax advantages that Bitcoin
+miners   can   leverage   The   first   major  
+
+ miners can leverage The first major
+ 
+
+ miners can leverage The first major
+advantage   is   business   expense   deductions  
+
+ advantage is business expense deductions
+ 
+
+ advantage is business expense deductions
+Nearly   everything   that   you   spend   on  
+
+ Nearly everything that you spend on
+ 
+
+ Nearly everything that you spend on
+mining   becomes   deductible   substantially  
+
+ mining becomes deductible substantially
+ 
+
+ mining becomes deductible substantially
+reducing   your   taxable   income   Let   me   show  
+
+ reducing your taxable income Let me show
+ 
+
+ reducing your taxable income Let me show
+you   how   powerful   this   is   with   a   real  
+
+ you how powerful this is with a real
+ 
+
+ you how powerful this is with a real
+example   One   of   my   clients   mines   Bitcoin  
+
+ example One of my clients mines Bitcoin
+ 
+
+ example One of my clients mines Bitcoin
+as   a   business   and   generated   about   $1.2  
+
+ as a business and generated about $1.2
+ 
+
+ as a business and generated about $1.2
+million   worth   of   Bitcoin   last   year  
+
+ million worth of Bitcoin last year
+ 
+
+ million worth of Bitcoin last year
+without   any   deductions   That's   $1.2  
+
+ without any deductions That's $1.2
+ 
+
+ without any deductions That's $1.2
+million   of   taxable   income   But   as   a  
+
+ million of taxable income But as a
+ 
+
+ million of taxable income But as a
+mining   business   he   deducted   $570,000   in  
+
+ mining business he deducted $570,000 in
+ 
+
+ mining business he deducted $570,000 in
+electricity   costs   $350,000   in   equipment  
+
+ electricity costs $350,000 in equipment
+ 
+
+ electricity costs $350,000 in equipment
+depreciation   $120,000   for   facility  
+
+ depreciation $120,000 for facility
+ 
+
+ depreciation $120,000 for facility
+rental   $50,000   for   networking   and  
+
+ rental $50,000 for networking and
+ 
+
+ rental $50,000 for networking and
+cooling   systems   and   $60,000   for   repairs  
+
+ cooling systems and $60,000 for repairs
+ 
+
+ cooling systems and $60,000 for repairs
+and   maintenance   That's   1.15   million   in  
+
+ and maintenance That's 1.15 million in
+ 
+
+ and maintenance That's 1.15 million in
+legitimate   deductions   reducing   his  
+
+ legitimate deductions reducing his
+ 
+
+ legitimate deductions reducing his
+taxable   mining   income   to   just  
+
+ taxable mining income to just
+ 
+
+ taxable mining income to just
+$50,000   in   a   business   where   he   cleared  
+
+ $50,000 in a business where he cleared
+ 
+
+ $50,000 in a business where he cleared
+$440,000   in   Bitcoin   The   tax   savings   were  
+
+ $440,000 in Bitcoin The tax savings were
+ 
+
+ $440,000 in Bitcoin The tax savings were
+enormous   which   means   he   gets   to   hold   on  
+
+ enormous which means he gets to hold on
+ 
+
+ enormous which means he gets to hold on
+to   more   coins   But   the   advantages   don't  
+
+ to more coins But the advantages don't
+ 
+
+ to more coins But the advantages don't
+stop   there   When   you   later   sell   those  
+
+ stop there When you later sell those
+ 
+
+ stop there When you later sell those
+mine   coins   after   holding   them   for   over   a  
+
+ mine coins after holding them for over a
+ 
+
+ mine coins after holding them for over a
+year   you   qualify   for   long-term   capital  
+
+ year you qualify for long-term capital
+ 
+
+ year you qualify for long-term capital
+gains   rates   These   rates   range   from   zero  
+
+ gains rates These rates range from zero
+ 
+
+ gains rates These rates range from zero
+up   to   20%   depending   on   your   income   which  
+
+ up to 20% depending on your income which
+ 
+
+ up to 20% depending on your income which
+is   much   lower   than   the   ordinary   income  
+
+ is much lower than the ordinary income
+ 
+
+ is much lower than the ordinary income
+tax   rates   up   to   37%   This   creates   a  
+
+ tax rates up to 37% This creates a
+ 
+
+ tax rates up to 37% This creates a
+powerful   two-step   tax   strategy   You  
+
+ powerful two-step tax strategy You
+ 
+
+ powerful two-step tax strategy You
+deduct   most   of   your   expenses   against  
+
+ deduct most of your expenses against
+ 
+
+ deduct most of your expenses against
+ordinary   income   when   mining   and   then   you  
+
+ ordinary income when mining and then you
+ 
+
+ ordinary income when mining and then you
+pay   lower   capital   gains   rates   when  
+
+ pay lower capital gains rates when
+ 
+
+ pay lower capital gains rates when
+eventually   selling   Or   if   you're   like  
+
+ eventually selling Or if you're like
+ 
+
+ eventually selling Or if you're like
+most   hardcore   Bitcoiners   you   can   choose  
+
+ most hardcore Bitcoiners you can choose
+ 
+
+ most hardcore Bitcoiners you can choose
+to   never   sell   and   thus   never   be   taxed   on  
+
+ to never sell and thus never be taxed on
+ 
+
+ to never sell and thus never be taxed on
+the   gain   and   instead   borrow   against   your  
+
+ the gain and instead borrow against your
+ 
+
+ the gain and instead borrow against your
+holdings   to   get   cash   without   any   tax  
+
+ holdings to get cash without any tax
+ 
+
+ holdings to get cash without any tax
+penalty   It's   completely   legal   and   it's  
+
+ penalty It's completely legal and it's
+ 
+
+ penalty It's completely legal and it's
+one   of   the   most   efficient   tax   structures  
+
+ one of the most efficient tax structures
+ 
+
+ one of the most efficient tax structures
+that's   available   to   small   business  
+
+ that's available to small business
+ 
+
+ that's available to small business
+owners   today   Now   let's   explore   some   more  
+
+ owners today Now let's explore some more
+ 
+
+ owners today Now let's explore some more
+advanced   strategies   that   can   take   your  
+
+ advanced strategies that can take your
+ 
+
+ advanced strategies that can take your
+mining   tax   situation   to   the   next   level  
+
+ mining tax situation to the next level
+ 
+
+ mining tax situation to the next level
+Section   179   expensing   is   a   gamecher   for  
+
+ Section 179 expensing is a gamecher for
+ 
+
+ Section 179 expensing is a gamecher for
+professional   miners   Instead   of  
+
+ professional miners Instead of
+ 
+
+ professional miners Instead of
+depreciating   your   mining   equipment   over  
+
+ depreciating your mining equipment over
+ 
+
+ depreciating your mining equipment over
+5   years   this   provision   lets   you   deduct  
+
+ 5 years this provision lets you deduct
+ 
+
+ 5 years this provision lets you deduct
+the   full   cost   in   year   1   up   to   1.25  
+
+ the full cost in year 1 up to 1.25
+ 
+
+ the full cost in year 1 up to 1.25
+million   in   2025   if   mining   is   your  
+
+ million in 2025 if mining is your
+ 
+
+ million in 2025 if mining is your
+primary   business   activity   This   means  
+
+ primary business activity This means
+ 
+
+ primary business activity This means
+that   you   can   write   off   those   expensive  
+
+ that you can write off those expensive
+ 
+
+ that you can write off those expensive
+ASIC   miners   immediately   For   example   if  
+
+ ASIC miners immediately For example if
+ 
+
+ ASIC miners immediately For example if
+you   invest   $200,000   in   mining   equipment  
+
+ you invest $200,000 in mining equipment
+ 
+
+ you invest $200,000 in mining equipment
+you   could   potentially   deduct   the   entire  
+
+ you could potentially deduct the entire
+ 
+
+ you could potentially deduct the entire
+amount   in   the   first   year   rather   than  
+
+ amount in the first year rather than
+ 
+
+ amount in the first year rather than
+spreading   it   out   over   5   years   This  
+
+ spreading it out over 5 years This
+ 
+
+ spreading it out over 5 years This
+matching   of   expenses   with   income   is  
+
+ matching of expenses with income is
+ 
+
+ matching of expenses with income is
+especially   valuable   in   the   volatile  
+
+ especially valuable in the volatile
+ 
+
+ especially valuable in the volatile
+world   of   cryptocurrency   Even   better   if  
+
+ world of cryptocurrency Even better if
+ 
+
+ world of cryptocurrency Even better if
+you're   able   to   get   financing   on   your  
+
+ you're able to get financing on your
+ 
+
+ you're able to get financing on your
+equipment   you   may   be   able   to   offset   more  
+
+ equipment you may be able to offset more
+ 
+
+ equipment you may be able to offset more
+money   on   your   tax   bill   than   you   actually  
+
+ money on your tax bill than you actually
+ 
+
+ money on your tax bill than you actually
+spend   out   of   pocket   to   get   it   This   is   an  
+
+ spend out of pocket to get it This is an
+ 
+
+ spend out of pocket to get it This is an
+advanced   strategy   that   high   net   worth  
+
+ advanced strategy that high net worth
+ 
+
+ advanced strategy that high net worth
+investors   use   frequently   but   is   not  
+
+ investors use frequently but is not
+ 
+
+ investors use frequently but is not
+commonly   understood   Business   structure  
+
+ commonly understood Business structure
+ 
+
+ commonly understood Business structure
+also   matters   tremendously   Many   minors  
+
+ also matters tremendously Many minors
+ 
+
+ also matters tremendously Many minors
+start   as   sole   proprietors   but   eventually  
+
+ start as sole proprietors but eventually
+ 
+
+ start as sole proprietors but eventually
+benefit   from   forming   an   S   corporation  
+
+ benefit from forming an S corporation
+ 
+
+ benefit from forming an S corporation
+Why   with   an   S   corp   you   can   pay   yourself  
+
+ Why with an S corp you can pay yourself
+ 
+
+ Why with an S corp you can pay yourself
+a   reasonable   salary   and   take   the   rest   as  
+
+ a reasonable salary and take the rest as
+ 
+
+ a reasonable salary and take the rest as
+distributions   that   aren't   subject   to  
+
+ distributions that aren't subject to
+ 
+
+ distributions that aren't subject to
+self-employment   tax   This   can   save   you  
+
+ self-employment tax This can save you
+ 
+
+ self-employment tax This can save you
+approximately
+
+ approximately
+ 
+
+ approximately
+15.3%   on   a   huge   portion   of   your   income  
+
+ 15.3% on a huge portion of your income
+ 
+
+ 15.3% on a huge portion of your income
+Entity   type   and   timing   is   also   crucial  
+
+ Entity type and timing is also crucial
+ 
+
+ Entity type and timing is also crucial
+If   Bitcoin's   price   is   down   when   you   mine  
+
+ If Bitcoin's price is down when you mine
+ 
+
+ If Bitcoin's price is down when you mine
+it   but   you   expect   it   to   rise   an   entity  
+
+ it but you expect it to rise an entity
+ 
+
+ it but you expect it to rise an entity
+that   allows   for   pass   through   taxation  
+
+ that allows for pass through taxation
+ 
+
+ that allows for pass through taxation
+could   be   advantageous   This   lets   you  
+
+ could be advantageous This lets you
+ 
+
+ could be advantageous This lets you
+claim   the   business   deductions  
+
+ claim the business deductions
+ 
+
+ claim the business deductions
+immediately   while   potentially   paying  
+
+ immediately while potentially paying
+ 
+
+ immediately while potentially paying
+lower   capital   gains   taxes   later   For  
+
+ lower capital gains taxes later For
+ 
+
+ lower capital gains taxes later For
+miners   with   significant   operations   you  
+
+ miners with significant operations you
+ 
+
+ miners with significant operations you
+should   also   consider   exploring  
+
+ should also consider exploring
+ 
+
+ should also consider exploring
+opportunity   zone   investments   If   you  
+
+ opportunity zone investments If you
+ 
+
+ opportunity zone investments If you
+establish   mining   operations   in  
+
+ establish mining operations in
+ 
+
+ establish mining operations in
+designated   opportunity   zones   you   can  
+
+ designated opportunity zones you can
+ 
+
+ designated opportunity zones you can
+defer   and   potentially   reduce   your  
+
+ defer and potentially reduce your
+ 
+
+ defer and potentially reduce your
+capital   gains   taxes   And   I've   seen   miners  
+
+ capital gains taxes And I've seen miners
+ 
+
+ capital gains taxes And I've seen miners
+relocate   operations   to   these   zones  
+
+ relocate operations to these zones
+ 
+
+ relocate operations to these zones
+specifically   for   the   tax   benefits   One  
+
+ specifically for the tax benefits One
+ 
+
+ specifically for the tax benefits One
+fascinating   area   where   Bitcoin   mining  
+
+ fascinating area where Bitcoin mining
+ 
+
+ fascinating area where Bitcoin mining
+stands   out   is   at   the   intersection   of  
+
+ stands out is at the intersection of
+ 
+
+ stands out is at the intersection of
+energy   use   and   tax   incentives   Contrary  
+
+ energy use and tax incentives Contrary
+ 
+
+ energy use and tax incentives Contrary
+to   popular   belief   Bitcoin   mining   can  
+
+ to popular belief Bitcoin mining can
+ 
+
+ to popular belief Bitcoin mining can
+actually   support   environmental   goals   and  
+
+ actually support environmental goals and
+ 
+
+ actually support environmental goals and
+unlock   additional   tax   benefits   in   the  
+
+ unlock additional tax benefits in the
+ 
+
+ unlock additional tax benefits in the
+process   Miners   using   renewable   energy  
+
+ process Miners using renewable energy
+ 
+
+ process Miners using renewable energy
+sources   like   solar   wind   or   hydropower  
+
+ sources like solar wind or hydropower
+ 
+
+ sources like solar wind or hydropower
+may   qualify   for   various   energy   tax  
+
+ may qualify for various energy tax
+ 
+
+ may qualify for various energy tax
+credits   The   federal   investment   tax  
+
+ credits The federal investment tax
+ 
+
+ credits The federal investment tax
+credit   can   offset   up   to   30%   of   the   cost  
+
+ credit can offset up to 30% of the cost
+ 
+
+ credit can offset up to 30% of the cost
+of   installing   renewable   energy   systems  
+
+ of installing renewable energy systems
+ 
+
+ of installing renewable energy systems
+to   power   your   mining   operation   There   are  
+
+ to power your mining operation There are
+ 
+
+ to power your mining operation There are
+miners   in   Texas   who   partnered   with   the  
+
+ miners in Texas who partnered with the
+ 
+
+ miners in Texas who partnered with the
+wind   farm   to   utilize   excess   capacity  
+
+ wind farm to utilize excess capacity
+ 
+
+ wind farm to utilize excess capacity
+during   off-   peak   hours   Not   only   did   they  
+
+ during off- peak hours Not only did they
+ 
+
+ during off- peak hours Not only did they
+secure   discounted   electricity   but   they  
+
+ secure discounted electricity but they
+ 
+
+ secure discounted electricity but they
+qualified   for   substantial   energy   credits  
+
+ qualified for substantial energy credits
+ 
+
+ qualified for substantial energy credits
+creating   another   layer   of   tax   advantages  
+
+ creating another layer of tax advantages
+ 
+
+ creating another layer of tax advantages
+Natural   gas   flaring   provides   another  
+
+ Natural gas flaring provides another
+ 
+
+ Natural gas flaring provides another
+opportunity   In   oil   fields   as   well   as  
+
+ opportunity In oil fields as well as
+ 
+
+ opportunity In oil fields as well as
+landfills   excess   natural   gas   is   often  
+
+ landfills excess natural gas is often
+ 
+
+ landfills excess natural gas is often
+burned   off   or   flared   as   waste   or   it's  
+
+ burned off or flared as waste or it's
+ 
+
+ burned off or flared as waste or it's
+even   released   into   the   atmosphere  
+
+ even released into the atmosphere
+ 
+
+ even released into the atmosphere
+completely   untouched   Miners   who   capture  
+
+ completely untouched Miners who capture
+ 
+
+ completely untouched Miners who capture
+this   otherwise   wasted   energy   to   power  
+
+ this otherwise wasted energy to power
+ 
+
+ this otherwise wasted energy to power
+their   operations   can   potentially   qualify  
+
+ their operations can potentially qualify
+ 
+
+ their operations can potentially qualify
+for   carbon   capture   credits   while  
+
+ for carbon capture credits while
+ 
+
+ for carbon capture credits while
+securing   extremely   lowcost   energy   Heat  
+
+ securing extremely lowcost energy Heat
+ 
+
+ securing extremely lowcost energy Heat
+recycling   is   emerging   as   another  
+
+ recycling is emerging as another
+ 
+
+ recycling is emerging as another
+innovative   area   Miners   who   capture   and  
+
+ innovative area Miners who capture and
+ 
+
+ innovative area Miners who capture and
+repurpose   the   heat   generated   by   their  
+
+ repurpose the heat generated by their
+ 
+
+ repurpose the heat generated by their
+operations   for   example   to   heat   buildings  
+
+ operations for example to heat buildings
+ 
+
+ operations for example to heat buildings
+or   for   agricultural   purposes   like  
+
+ or for agricultural purposes like
+ 
+
+ or for agricultural purposes like
+greenhouse   warming   may   qualify   for  
+
+ greenhouse warming may qualify for
+ 
+
+ greenhouse warming may qualify for
+additional   efficiency   related   tax  
+
+ additional efficiency related tax
+ 
+
+ additional efficiency related tax
+incentives   The   key   here   is   understanding  
+
+ incentives The key here is understanding
+ 
+
+ incentives The key here is understanding
+that   mining's   energyintensive   nature  
+
+ that mining's energyintensive nature
+ 
+
+ that mining's energyintensive nature
+when   it's   approached   thoughtfully   can  
+
+ when it's approached thoughtfully can
+ 
+
+ when it's approached thoughtfully can
+align   with   both   environmental   goals   and  
+
+ align with both environmental goals and
+ 
+
+ align with both environmental goals and
+tax   incentives   creating   additional  
+
+ tax incentives creating additional
+ 
+
+ tax incentives creating additional
+avenues   for   tax   savings   that   most   miners  
+
+ avenues for tax savings that most miners
+ 
+
+ avenues for tax savings that most miners
+overlook   While   the   tax   advantages   of  
+
+ overlook While the tax advantages of
+ 
+
+ overlook While the tax advantages of
+mining   are   substantial   there   are   several  
+
+ mining are substantial there are several
+ 
+
+ mining are substantial there are several
+critical   pitfalls   that   you   need   to   avoid  
+
+ critical pitfalls that you need to avoid
+ 
+
+ critical pitfalls that you need to avoid
+The   biggest   mistake   that   I   see   miners  
+
+ The biggest mistake that I see miners
+ 
+
+ The biggest mistake that I see miners
+make   is   poor   recordkeeping   The   IRS  
+
+ make is poor recordkeeping The IRS
+ 
+
+ make is poor recordkeeping The IRS
+requires   you   to   record   the   fair   market  
+
+ requires you to record the fair market
+ 
+
+ requires you to record the fair market
+value   of   each   Bitcoin   received   through  
+
+ value of each Bitcoin received through
+ 
+
+ value of each Bitcoin received through
+mining   at   the   time   that   it   was   received  
+
+ mining at the time that it was received
+ 
+
+ mining at the time that it was received
+Without   this   documentation   you   could  
+
+ Without this documentation you could
+ 
+
+ Without this documentation you could
+face   significant   issues   during   an   audit  
+
+ face significant issues during an audit
+ 
+
+ face significant issues during an audit
+You   can   use   your   mining   pool   reports  
+
+ You can use your mining pool reports
+ 
+
+ You can use your mining pool reports
+blockchain   explorers   and   cryptocurrency  
+
+ blockchain explorers and cryptocurrency
+ 
+
+ blockchain explorers and cryptocurrency
+tax   software   to   maintain   accurate  
+
+ tax software to maintain accurate
+ 
+
+ tax software to maintain accurate
+records   screenshot   or   download   price  
+
+ records screenshot or download price
+ 
+
+ records screenshot or download price
+data   on   mining   days   as   additional   backup  
+
+ data on mining days as additional backup
+ 
+
+ data on mining days as additional backup
+And   remember   the   burden   of   proof   is   on  
+
+ And remember the burden of proof is on
+ 
+
+ And remember the burden of proof is on
+you   as   the   taxpayer   Another   common  
+
+ you as the taxpayer Another common
+ 
+
+ you as the taxpayer Another common
+mistake   is   comingling   personal   and  
+
+ mistake is comingling personal and
+ 
+
+ mistake is comingling personal and
+business   funds   Maintain   separate   wallets  
+
+ business funds Maintain separate wallets
+ 
+
+ business funds Maintain separate wallets
+and   accounts   for   your   mining   business  
+
+ and accounts for your mining business
+ 
+
+ and accounts for your mining business
+Not   only   does   this   strengthen   your   case  
+
+ Not only does this strengthen your case
+ 
+
+ Not only does this strengthen your case
+that   you're   running   a   legitimate  
+
+ that you're running a legitimate
+ 
+
+ that you're running a legitimate
+business   but   it   also   makes   accounting  
+
+ business but it also makes accounting
+ 
+
+ business but it also makes accounting
+dramatically   easier   Mclassifying   mining  
+
+ dramatically easier Mclassifying mining
+ 
+
+ dramatically easier Mclassifying mining
+status   is   another   pitfall   Some   miners  
+
+ status is another pitfall Some miners
+ 
+
+ status is another pitfall Some miners
+incorrectly   treat   their   activities   as  
+
+ incorrectly treat their activities as
+ 
+
+ incorrectly treat their activities as
+investments   rather   than   business   income  
+
+ investments rather than business income
+ 
+
+ investments rather than business income
+You   see   mining   generates   ordinary   income  
+
+ You see mining generates ordinary income
+ 
+
+ You see mining generates ordinary income
+when   the   coins   are   received   Treating   it  
+
+ when the coins are received Treating it
+ 
+
+ when the coins are received Treating it
+otherwise   can   trigger   IRS   scrutiny  
+
+ otherwise can trigger IRS scrutiny
+ 
+
+ otherwise can trigger IRS scrutiny
+Finally   be   wary   of   the   hobby   loss   rules  
+
+ Finally be wary of the hobby loss rules
+ 
+
+ Finally be wary of the hobby loss rules
+If   your   mining   operation   shows   losses  
+
+ If your mining operation shows losses
+ 
+
+ If your mining operation shows losses
+for   several   years   the   IRS   may   reclassify  
+
+ for several years the IRS may reclassify
+ 
+
+ for several years the IRS may reclassify
+it   as   a   hobby   disallowing   your  
+
+ it as a hobby disallowing your
+ 
+
+ it as a hobby disallowing your
+deductions   To   prevent   this   document   your  
+
+ deductions To prevent this document your
+ 
+
+ deductions To prevent this document your
+profit   motive   through   business   plans  
+
+ profit motive through business plans
+ 
+
+ profit motive through business plans
+operational   improvements   and   eventually  
+
+ operational improvements and eventually
+ 
+
+ operational improvements and eventually
+profitability   Looking   toward   the   future  
+
+ profitability Looking toward the future
+ 
+
+ profitability Looking toward the future
+several   trends   could   impact   your   Bitcoin  
+
+ several trends could impact your Bitcoin
+ 
+
+ several trends could impact your Bitcoin
+mining   tax   strategy   First   regulatory  
+
+ mining tax strategy First regulatory
+ 
+
+ mining tax strategy First regulatory
+clarity   is   improving   The   IRS   is  
+
+ clarity is improving The IRS is
+ 
+
+ clarity is improving The IRS is
+providing   more   guidance   specifically  
+
+ providing more guidance specifically
+ 
+
+ providing more guidance specifically
+addressing   cryptocurrency   activities  
+
+ addressing cryptocurrency activities
+ 
+
+ addressing cryptocurrency activities
+including   mining   While   the   fundamental  
+
+ including mining While the fundamental
+ 
+
+ including mining While the fundamental
+tax   principles   remain   constant   expect  
+
+ tax principles remain constant expect
+ 
+
+ tax principles remain constant expect
+more   detailed   guidelines   in   the   coming  
+
+ more detailed guidelines in the coming
+ 
+
+ more detailed guidelines in the coming
+years   Second   entity   structures   continue  
+
+ years Second entity structures continue
+ 
+
+ years Second entity structures continue
+to   evolve   We're   seeing   increasing  
+
+ to evolve We're seeing increasing
+ 
+
+ to evolve We're seeing increasing
+interest   in   mining   cooperatives   and  
+
+ interest in mining cooperatives and
+ 
+
+ interest in mining cooperatives and
+partnerships   that   allow   for   more  
+
+ partnerships that allow for more
+ 
+
+ partnerships that allow for more
+flexible   tax   treatment   These   structures  
+
+ flexible tax treatment These structures
+ 
+
+ flexible tax treatment These structures
+can   distribute   tax   benefits   more  
+
+ can distribute tax benefits more
+ 
+
+ can distribute tax benefits more
+efficiently   among   their   participants   And  
+
+ efficiently among their participants And
+ 
+
+ efficiently among their participants And
+third   jurisdictional   considerations   are  
+
+ third jurisdictional considerations are
+ 
+
+ third jurisdictional considerations are
+becoming   more   important   States   like  
+
+ becoming more important States like
+ 
+
+ becoming more important States like
+Texas   and   Wyoming   are   creating   mining  
+
+ Texas and Wyoming are creating mining
+ 
+
+ Texas and Wyoming are creating mining
+friendly   policies   including   energy  
+
+ friendly policies including energy
+ 
+
+ friendly policies including energy
+incentives   and   favorable   tax   treatment  
+
+ incentives and favorable tax treatment
+ 
+
+ incentives and favorable tax treatment
+Strategic   relocation   could   become   part  
+
+ Strategic relocation could become part
+ 
+
+ Strategic relocation could become part
+of   your   long-term   tax   planning   And   as  
+
+ of your long-term tax planning And as
+ 
+
+ of your long-term tax planning And as
+one   client   recently   told   me   after  
+
+ one client recently told me after
+ 
+
+ one client recently told me after
+implementing   these   strategies   I   knew  
+
+ implementing these strategies I knew
+ 
+
+ implementing these strategies I knew
+mining   would   be   profitable   from   a  
+
+ mining would be profitable from a
+ 
+
+ mining would be profitable from a
+Bitcoin   accumulation   perspective   but   I  
+
+ Bitcoin accumulation perspective but I
+ 
+
+ Bitcoin accumulation perspective but I
+never   realized   the   tax   benefits   would  
+
+ never realized the tax benefits would
+ 
+
+ never realized the tax benefits would
+actually   double   my   effective   return   and  
+
+ actually double my effective return and
+ 
+
+ actually double my effective return and
+operate   like   a   turnkey   business   The   tax  
+
+ operate like a turnkey business The tax
+ 
+
+ operate like a turnkey business The tax
+advantages   of   Bitcoin   mining   as   a  
+
+ advantages of Bitcoin mining as a
+ 
+
+ advantages of Bitcoin mining as a
+business   represent   one   of   the   most  
+
+ business represent one of the most
+ 
+
+ business represent one of the most
+overlooked   aspects   of   the   cryptocurrency  
+
+ overlooked aspects of the cryptocurrency
+ 
+
+ overlooked aspects of the cryptocurrency
+space   broadly   When   structured   properly  
+
+ space broadly When structured properly
+ 
+
+ space broadly When structured properly
+mining   offers   a   powerful   combination   of  
+
+ mining offers a powerful combination of
+ 
+
+ mining offers a powerful combination of
+business   deductions   favorable   capital  
+
+ business deductions favorable capital
+ 
+
+ business deductions favorable capital
+gains   treatment   and   specialized   tax  
+
+ gains treatment and specialized tax
+ 
+
+ gains treatment and specialized tax
+incentives   that   few   other   business  
+
+ incentives that few other business
+ 
+
+ incentives that few other business
+models   can   match   The   key   is   approaching  
+
+ models can match The key is approaching
+ 
+
+ models can match The key is approaching
+mining   deliberately   with   proper  
+
+ mining deliberately with proper
+ 
+
+ mining deliberately with proper
+documentation   clear   business   practices  
+
+ documentation clear business practices
+ 
+
+ documentation clear business practices
+and   strategic   planning   The   difference  
+
+ and strategic planning The difference
+ 
+
+ and strategic planning The difference
+between   treating   mining   as   a   casual  
+
+ between treating mining as a casual
+ 
+
+ between treating mining as a casual
+hobby   versus   a   structured   business   can  
+
+ hobby versus a structured business can
+ 
+
+ hobby versus a structured business can
+literally   mean   tens   or   even   hundreds   of  
+
+ literally mean tens or even hundreds of
+ 
+
+ literally mean tens or even hundreds of
+thousands   of   dollars   in   tax   savings   And  
+
+ thousands of dollars in tax savings And
+ 
+
+ thousands of dollars in tax savings And
+working   with   the   right   mining   partner  
+
+ working with the right mining partner
+ 
+
+ working with the right mining partner
+from   the   start   can   put   these   action  
+
+ from the start can put these action
+ 
+
+ from the start can put these action
+items   on   easy   street   Remember   Dean   from  
+
+ items on easy street Remember Dean from
+ 
+
+ items on easy street Remember Dean from
+the   beginning   of   the   video   his  
+
+ the beginning of the video his
+ 
+
+ the beginning of the video his
+$350,000   tax   savings   didn't   happen   by  
+
+ $350,000 tax savings didn't happen by
+ 
+
+ $350,000 tax savings didn't happen by
+accident   It   came   from   understanding   and  
+
+ accident It came from understanding and
+ 
+
+ accident It came from understanding and
+applying   these   simple   principles  
+
+ applying these simple principles
+ 
+
+ applying these simple principles
+systematically   If   you're   serious   about  
+
+ systematically If you're serious about
+ 
+
+ systematically If you're serious about
+mining   consider   consulting   with   a   tax  
+
+ mining consider consulting with a tax
+ 
+
+ mining consider consulting with a tax
+professional   who   understands   the  
+
+ professional who understands the
+ 
+
+ professional who understands the
+cryptocurrency   markets   The   investment   in  
+
+ cryptocurrency markets The investment in
+ 
+
+ cryptocurrency markets The investment in
+proper   tax   planning   almost   always   pays  
+
+ proper tax planning almost always pays
+ 
+
+ proper tax planning almost always pays
+for   itself   many   times   over   Thanks   for  
+
+ for itself many times over Thanks for
+ 
+
+ for itself many times over Thanks for
+watching   If   you   found   this   helpful   hit  
+
+ watching If you found this helpful hit
+ 
+
+ watching If you found this helpful hit
+like   and   subscribe   for   more   Bitcoin  
+
+ like and subscribe for more Bitcoin
+ 
+
+ like and subscribe for more Bitcoin
+content   and   drop   your   questions   in   the  
+
+ content and drop your questions in the
+ 
+
+ content and drop your questions in the
+comments   below   and   I'll   do   my   best   to  
+
+ comments below and I'll do my best to
+ 
+
+ comments below and I'll do my best to
+address   them   in   a   future  
+