The Crypto Keeper
Posted on 08/02/2022 2:39:33 PM PDT by dynachrome
We don’t bailout big Vegas losers.
37 year old.
Retirement savings?!
Caveat Emptor.
True that. I wish I could have back the retirement savings my ex drained from me in my 30’s with an ugly divorce. LOL
If not, what's to prevent someone claiming that he owned $300,000? Or $3 million?
If at 37, a $30K hit is ‘insurmountable’, then you are probably a loser. 30K is like buying a cheap car - and while it would suck to lose 30K, it should be ‘surmountable’ for a hard working person.
So these people did not buy crypto they had control over?
They make it sound like they invested in the business, proper.
Interesting.
A fool and his money are soon parted.
If indeed this thing was run as a Ponzi Scheme, then some executions should be in order.
Go figure.
Stupid SHOULD hurt. That way you get less of it. Plus, how does LOSING money create ‘unsurmountable’ [eyeroll] tax complications?
Crypto is NOT an investment strategy... it’s currency
What to Jim Cramer talk about this company a year ago?
https://decrypt.co/102828/jim-cramer-turns-bearish-on-crypto-is-that-bullish?amp=1
At least he is only 37, and has time to recover. We were in our 50s during the 90s tech crash.
Great Read! https://mobile.twitter.com/cramertracker/
quote “his retirement savings and has lost more than $30,000, which has brought him into “unsurmountable tax complications.”
HUH?
how can $30,000 be someones retirement? and how can losing that little bring insurmountable tax issues?
The Crypto Keeper
Right. He probably doesn’t understand taxes and hasn’t asked a professional. I haven’t read the article, just came here for the anti crypto comments.
If he has traded crypto in an out all year, he could gotten a statement that says he owes all this tax, without taking into consideration the losses incurred, during all those trades.
I’m not educated in the tax field, but he may show profits of $700,000 and losses of $670,000 or something.
No need to flame my ignorance on the subject, I just remember a buddy’s son getting a scary letter from the IRS about owing $100,000’s, when in reality he didn’t owe anything because he lost money trading.
I’m not a financial advisor and this is not financial advice.
In fact, I am what you could call, a retarded crayon eating ape
I suspect you are right.
So is cash, but lots of people park their assets in cash.
And, with the crazy crypto values roller coaster, I think an awfully lot of folks thought of it as an investment.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.