“I just discovered that I owe the IRS $50k that I don’t have, because I traded in cryptos. Am I fucked?”, wrote they had ended up with a $50,000 tax liability on trades after they sold $120,000 worth of bitcoin to buy different coins. The current value of those coins is about $30,000.
“I feel like I might have accidentally ruined my life because I didn’t know about the taxes,” the poster wrote.
Ravencoin Far Cheaper To Mine But Still Long Way To Go If Ever…
RT asks if this week’s cryptocurrency crash was part of pump & dump scheme, citing ‘suspicious delays’
The above is the essential takeaway from the last paragraph in the analysis I linked to. Do read it.