Members of a popular internet forum defended one man who said he unknowingly roasted his brother-in-law after a devastating crypto crash.
In a viral Reddit post published on r/AmITheA**hole, Redditor u/anticryptobro (otherwise referred to as the original poster, or OP) said he and his wife were eating dinner with their extended family when a joke about cryptocurrency unearthed his brother-in-law’s grim financial mistake.
Titled, “[Am I the a**hole] for making fun of my [brother-in-law] after he lost a s**t ton of money investing in crypto?” the post has received more than 6,000 votes and 1,000 comments in the last day.
Beginning by describing him as a “braggart,” the original poster said his brother-in-law frequently gloated about his successful investments and has often offered unwanted financial advice, specifically about cryptocurrencies and non-fungible tokens.
“Whenever we go out to dinner with them, he’ll insist on paying in the most condescending way possible,” OP wrote. “He’ll also try to give me financial advice which is just annoying.”
“He got into crypto a year ago and shortly after NFTS,” OP continued. “When he brought me this advice we argued on it.”
“He accused me of not wanting to give my wife the life she deserves,” OP added.
Writing that his brother-in-law assured that he was going to turn his entire family into millionaires, the original poster said he was accused of naivety for not joining last year’s crypto craze.
However, during a recent family dinner, the original poster also said he learned that recent events within the cryptocurrency market have placed his brother-in-law and his family in a precarious position.
“We hosted them for dinner,” OP wrote. “It was awkward. There was some tension there, but I really couldn’t tell why.”
“In a period of silence, I asked him, ‘So are y’all millionaires yet?'” OP continued. “In that moment my wife’s sister put her head down into her hands and was in tears in seconds.”
“Her husband explained he bet money they couldn’t afford on various cryptos that crashed,” OP added. “He lost a s**t ton of money and said unless they figure something out they won’t be able to stay in their house or pay for their [two] daughters’ preschool.”
Last month, Insider Intelligence projected that, by the end of 2022, more than 33.7 Americans would own at least one cryptocurrency.
A 19 percent jump from 2021, 33.7 million represents 12.8 percent of the United States’ population and is a testament to the growing popularity and general acceptance of cryptocurrency across the country.
However, while crypto has strengthened its foothold in the financial landscape, the last week has not been kind to owners of numerous popular currencies.
On May 12, Newsweek reported that both bitcoin and its rival, ethereum, are down 30 percent in the last seven days, and have both suffered major price decreases in the last 24 hours. Newsweek also reported that Luna, another popular cryptocurrency, has fallen 97 percent in the last week.
The recent crypto crash, which has affected hundreds-of-millions of investors all around the world, has had a greater impact on some than it has on others.
While Reuters reports that financial regulators remain “divided on the size of the threat a crypto crash poses to the financial system and broader economy,” scenarios like the one described in the viral Reddit post have become increasingly common.
Throughout the post’s comment section, Redditors assured the original poster he had no way of knowing the severity of his brother-in-law’s crypto losses and argued that his joke about his family becoming millionaires was not intended to bring any harm.
“First, you did not know,” Redditor u/patjames904 wrote in the post’s top comment, which has received more than 8,400 votes.
“Second, after him gloating so much, there had to be some Schadenfreude going on for you which is understandable,” they added, acknowledging the poetic justice of the situation.
In a separate comment, which has received more than 2,000 votes, Redditor u/pookguyinc offered a similar response.
“[Not the a**hole],” they wrote. “You did not know he was leveraged in [crypto] and lost the home.”
“Totally agree here,” Redditor u/DontBAfraidOfTheEdge chimed in. “Given the market, that was a fair little joke at someone who threw [$10,000] at some bulls**t…you obviously didn’t think the dude was dumb enough to put his house underwater.”
Redditor u/10sharks, whose comment has received nearly 2,000 votes, speculated that the original poster’s brother-in-law is much like many other image-obsessed investors.
“The people who talk the most about their money are often the people who spend too much trying to project an image,” they wrote.
Newsweek reached out to u/anticryptobro for comment.