You know, I have students ask me all the time about taxation, and I always say, you know, how did they get Al Capone?

You know, it was the IRS that got CalComp. Absolutely. And they never actually got him for murder, even though I'm guessing he might have committed a few. And so, you know, on Wall Street, we say there's only two things that are for sure, and that's death and taxes. So now you're on the blockchain. You're probably going to pay taxes

on these transactions and you probably should pay taxes. And if you're a U.S. citizen, you're going

to pay them globally. And is that a conversation you try to have with people and just say, look,

this is happening, understand what it as, be proactive about it or at least understand it because

it might affect your trading decisions. Yeah. Yeah, I think you 100% should be aware of it and you should 100% be proactive about it. And when you're aware and you're proactive, then you can start to do things to minimize it. I don't know if you've ever heard, there's some great Tony Robbins math that he talks about the value of deferral. Have you ever heard this? No, no. So what he goes through and he explains is he says, all right, imagine that you started with

a dollar and you could double it each period for 20 periods.

One becomes two, becomes four, becomes eight, and so on.

After 20 periods, you add about a million bucks.

Imagine that you instead, each doubling period you had to pay 33% tax so one becomes two but then you

pay 33% on the ones it's 1.67 then you double it and so on at the end of the same 20 year period

if in the first example you had a million how much would you guess you have paying 33% tax along the way

I guess it's a lot less than a third off of that, right? I'm gonna guess like 200 grand. Okay, I've been, it's a reasonable guess, right? So your first instinct is right to say, you know, someone might say, oh, it's $670,000 or something because we lose 33%. Much lower, much lower than $200,000. $660 or something, I don't know. $28,000 or something because we lose 33%. Much lower than 200,000.

60 or something, I don't know.

$28,000.

$28,000.

So it literally costs you over a million dollars

over that time period.

And the numbers are somewhat disingenuous

because nobody's really starting with a dollar

and nobody's really doubling each period,

although in crypto you might.

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