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welcome back to the world of cryptos and

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welcome back to the world of cryptos and
 

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welcome back to the world of cryptos and
welcome back to the crypto corner

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welcome back to the crypto corner
 

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welcome back to the crypto corner
today we're going to talk taxes yes i

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today we're going to talk taxes yes i
 

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today we're going to talk taxes yes i
know it's an ugly word

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know it's an ugly word
 

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know it's an ugly word
but it is an important word and so let's

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but it is an important word and so let's
 

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but it is an important word and so let's
talk taxes

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talk taxes
 

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talk taxes
year end is not far and so soon you'll

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year end is not far and so soon you'll
 

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year end is not far and so soon you'll
have to be doing your tax return

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have to be doing your tax return
 

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have to be doing your tax return
um and yeah let's take into uh take a

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um and yeah let's take into uh take a
 

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um and yeah let's take into uh take a
look into it

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look into it
 

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look into it
to see to explain to you what i'm

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to see to explain to you what i'm
 

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to see to explain to you what i'm
talking about

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talking about
 

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talking about
so we're in coin gecko and if i go

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so we're in coin gecko and if i go
 

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so we're in coin gecko and if i go
and click on d5 because a lot of us have

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and click on d5 because a lot of us have
 

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and click on d5 because a lot of us have
been involved in d5

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been involved in d5
 

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been involved in d5
the last four or five months seven days

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the last four or five months seven days
 

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the last four or five months seven days
then we've got here deforest token that

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then we've got here deforest token that
 

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then we've got here deforest token that
increased by 119

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increased by 119
 

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increased by 119
in the last seven days but decreased in

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in the last seven days but decreased in
 

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in the last seven days but decreased in
the last 24 hours by 10

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the last 24 hours by 10
 

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the last 24 hours by 10
and that happens across the board and so

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and that happens across the board and so
 

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and that happens across the board and so
that's why a lot of us have been trading

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that's why a lot of us have been trading
 

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that's why a lot of us have been trading
in and on

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in and on
 

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in and on
using um a lot of different

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using um a lot of different
 

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using um a lot of different
exchanges uh just to buy the latest

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exchanges uh just to buy the latest
 

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exchanges uh just to buy the latest
best and uh the coin that has got the

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best and uh the coin that has got the
 

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best and uh the coin that has got the
highest yield

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highest yield
 

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highest yield
and after a few weeks you lose track of

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and after a few weeks you lose track of
 

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and after a few weeks you lose track of
what you've done

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what you've done
 

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what you've done
a tax man is interested in that because

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a tax man is interested in that because
 

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a tax man is interested in that because
if you have something at least here in

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if you have something at least here in
 

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if you have something at least here in
the us

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the us
 

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the us
less than two uh 12 months

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less than two uh 12 months
 

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less than two uh 12 months
you have to pay capital gains a higher

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you have to pay capital gains a higher
 

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you have to pay capital gains a higher
rate of capital gains

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rate of capital gains
 

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rate of capital gains
taxes on on those gains and so

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taxes on on those gains and so
 

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taxes on on those gains and so
if we take a look into the tax return

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if we take a look into the tax return
 

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if we take a look into the tax return
that you have to fill out here in the

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that you have to fill out here in the
 

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that you have to fill out here in the
u.s you've got a line in here that says

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u.s you've got a line in here that says
 

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u.s you've got a line in here that says
at any time during 2020 did you receive

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at any time during 2020 did you receive
 

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at any time during 2020 did you receive
sell sent exchange or otherwise acquire

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sell sent exchange or otherwise acquire
 

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sell sent exchange or otherwise acquire
any financial interest

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any financial interest
 

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any financial interest
in any virtual currency so we did that

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in any virtual currency so we did that
 

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in any virtual currency so we did that
so we have to take yes

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so we have to take yes
 

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so we have to take yes
on the other hand the irs also knows

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on the other hand the irs also knows
 

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on the other hand the irs also knows
through companies like coinbase

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through companies like coinbase
 

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through companies like coinbase
that you acquired some tokens some coins

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that you acquired some tokens some coins
 

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that you acquired some tokens some coins
by buying them on their exchange

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by buying them on their exchange
 

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by buying them on their exchange
at the same time if you trade every time

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at the same time if you trade every time
 

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at the same time if you trade every time
you trade something doesn't matter if

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you trade something doesn't matter if
 

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you trade something doesn't matter if
it's with fiats or canadian dollar u.s

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it's with fiats or canadian dollar u.s
 

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it's with fiats or canadian dollar u.s
dollar

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dollar
 

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dollar
and a coin token uh it's a taxable event

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and a coin token uh it's a taxable event
 

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and a coin token uh it's a taxable event
so if you buy

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so if you buy
 

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so if you buy
a deforest token and you sell your

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a deforest token and you sell your
 

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a deforest token and you sell your
ethereum for that

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ethereum for that
 

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ethereum for that
that's a taxable event and so

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that's a taxable event and so
 

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that's a taxable event and so
um yes most of us will lose sight after

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um yes most of us will lose sight after
 

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um yes most of us will lose sight after
a few weeks because of the amount of

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a few weeks because of the amount of
 

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a few weeks because of the amount of
of trades that we're doing and for that

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of trades that we're doing and for that
 

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of trades that we're doing and for that
there's some fantastic websites

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there's some fantastic websites
 

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there's some fantastic websites
and one of them is called tracking dot

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and one of them is called tracking dot
 

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and one of them is called tracking dot
info

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info
 

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info
and in here you insert the coins you can

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and in here you insert the coins you can
 

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and in here you insert the coins you can
do that either automatically

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do that either automatically
 

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do that either automatically
by linking a website like coinbase to

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by linking a website like coinbase to
 

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by linking a website like coinbase to
coin tracking or by importing it you

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coin tracking or by importing it you
 

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coin tracking or by importing it you
know so you

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know so you
 

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know so you
generate is an excel spreadsheet and you

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generate is an excel spreadsheet and you
 

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generate is an excel spreadsheet and you
import it or

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import it or
 

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import it or
the worst case you enter the data

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the worst case you enter the data
 

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the worst case you enter the data
manually but that is a real

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manually but that is a real
 

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manually but that is a real
long process once you've got the data in

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long process once you've got the data in
 

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long process once you've got the data in
here you've got a fantastic

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here you've got a fantastic
 

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here you've got a fantastic
overview on where you made money where

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overview on where you made money where
 

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overview on where you made money where
you lost money on those coins

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you lost money on those coins
 

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you lost money on those coins
and more importantly for what we're

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and more importantly for what we're
 

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and more importantly for what we're
talking about today is the tax report

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talking about today is the tax report
 

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talking about today is the tax report
so you can generate the tax report out

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so you can generate the tax report out
 

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so you can generate the tax report out
of the data that you entered into the

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of the data that you entered into the
 

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of the data that you entered into the
system

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system
 

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system
according to the needs of the irs in our

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according to the needs of the irs in our
 

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according to the needs of the irs in our
case

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case
 

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case
in the u.s and you print it out and you

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in the u.s and you print it out and you
 

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in the u.s and you print it out and you
attach it to the 1040 form

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attach it to the 1040 form
 

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attach it to the 1040 form
and that's it um so yeah that's um

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and that's it um so yeah that's um
 

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and that's it um so yeah that's um
that's something that we highly

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that's something that we highly
 

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that's something that we highly
recommend when you're doing a tax return

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recommend when you're doing a tax return
 

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recommend when you're doing a tax return
try to simplify your life

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try to simplify your life
 

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try to simplify your life
and use tools like cointracking.info

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and use tools like cointracking.info
 

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and use tools like cointracking.info
to generate those those pesky reports

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to generate those those pesky reports
 

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to generate those those pesky reports
anyway that's it for me today it's very

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anyway that's it for me today it's very
 

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anyway that's it for me today it's very
short but i thought it was very

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short but i thought it was very
 

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short but i thought it was very
important because

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important because
 

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important because
we are now already late december and or

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we are now already late december and or
 

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we are now already late december and or
mid-december

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mid-december
 

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mid-december
and so it is important that you think of

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and so it is important that you think of
 

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and so it is important that you think of
your tax returns

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your tax returns
 

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your tax returns
so yeah i want to wish you all the best

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so yeah i want to wish you all the best
 

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so yeah i want to wish you all the best
and

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and
 

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and
thank you very much and as usual thank

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thank you very much and as usual thank
 

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thank you very much and as usual thank
you bye-bye thank you robert

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you bye-bye thank you robert
 

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you bye-bye thank you robert
just a reminder that we're not providing

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just a reminder that we're not providing
 

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just a reminder that we're not providing
financial advice but only sharing what's

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financial advice but only sharing what's
 

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financial advice but only sharing what's
happening in the cryptocurrency markets

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happening in the cryptocurrency markets
 

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happening in the cryptocurrency markets
always remember that the cryptocurrency

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always remember that the cryptocurrency
 

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always remember that the cryptocurrency
markets are ever-changing and

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markets are ever-changing and
 

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markets are ever-changing and
always volatile so only invest what you

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always volatile so only invest what you
 

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always volatile so only invest what you
can afford to lose

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can afford to lose
 

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can afford to lose
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[Applause]

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[Applause]
 

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[Music]
[Applause]

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[Music]

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[Music]

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you