Is this that ripple guy in the Investments forum?

[ethanscott]

@ohai

https://www.reddit.com/r/personalfinance/comments/84huks/i_just_discovered_that_i_owe_the_irs_50k_that_i/

https://www.reddit.com/r/personalfinance/comments/89ipyu/update_i_just_discovered_that_i_owe_the_irs_50k/

Summary: office assistant making $45k a year makes almost $120k in short term capital gains by selling his cryptocurrencies which had appreciated. Now he owes $50k in taxes. He uses the $120k to buy other cryptocurrencies, which decline 75%. Now he has $30k in assets and owes $50k in taxes. He cannot offset the original gain in 2017 with losses realized in 2018.

I wonder how many other people are in this situation.

I have no idea why, but water cooler forum us the best one honestly.

I can’t help but giggle at your description quote