Topic: Invest your money wisely - another lesson, Techie tries to suicide. - page 4. (Read 690 times)
April 13, 2023, 05:27:04 PM
This is an example of an investor that invested in crypto without knowledge about this. This will imply the importance of why should spend more time knowing more about the crypto space if we have the plan to put money here and stop believing promising words. It is to keep in mind that this a risky investment and a single mistake that we made will cause losses. It was advisable as we are still learning about crypto, we just put in a small amount and gradually increase our investment if we fully understand this and if also we know the safety precautions needed.
April 13, 2023, 04:38:29 PM
I don't know if the guy is arrogant mixed with ignorance after shamelessly using the retirement fund of his mother unless his mother was the one who presented to use the fund. Taking loans in order to invest? I doubt it is the best way to start investing. The guy clearly did not even have enough experience and knowledge about what he was into. If it is that easy to become rich, there would've been no crisis. We should only risk the money we can afford to lose.
Now that he remains alive. He should change for the better. He needs to work harder in order to pay the debts and the retirement fund for his mother. He better stay optimistic instead of becoming wasted after what happened to him.
Now that he remains alive. He should change for the better. He needs to work harder in order to pay the debts and the retirement fund for his mother. He better stay optimistic instead of becoming wasted after what happened to him.
April 13, 2023, 03:00:27 PM
Just save up your bitcoins in cold storage, only buy what you can afford to lose and most importantly don't fall for the traps of crypto space.
Bitcoin is the only savior in crypto and if you own the keys, you win the market.
Not for nothing, but the above sounds like empty rhetoric combined with advice I've heard a zillion times on the forum with the result that it adds nothing to the story about this guy trying to off himself.Bitcoin is the only savior in crypto and if you own the keys, you win the market.
$36k is definitely a lot for most people, even in the US as you pointed out. On the bright side for the guy in question, he's still young, still alive, and has more than enough time to regain his fortune (though I don't know much about him personally other than his mindset). But I can't help but wonder why this made the news. Is it because crypto was involved? I assume that's it, because if he'd lost money in the stock market or had been robbed, I'd be willing to bet we wouldn't be reading about it at all.
But hey, I'm just a cynical old bastard.
April 13, 2023, 02:55:10 PM
Apparently, the person in the story is newbie who flouted the laws of investment especially crypto investment. He even used loan, his mother's pension and other moneis he knew he couldn't afford to lose and poured it into crypto. I can bet that the so-called crypto he invested the money into was a shit coin. Well, I am glad he didn't died. People must educate themseves about cryptocurrency before delving into it. It is high risk. Avoid using money you cannot afford to lose. Join a community and ask all the questions you have about it before you invest. And if it is not bitcoin tread with extreme caution.
I mean what did he really expected? What is the expectation when you do something like this? To get super rich very quickly so you could pay everyone back and live a great life? I bet that he doesn't even know the first thing about TA and he still did this. I am sorry and I do not want to speak ill of the man, but it was a mistake from the first moment.If you are spending others money, and loans and all that to make an investment then you can't make a profit at all, that's just too many things to consider and makes it complex. Simply just put a bit of your salary every month into bitcoin and do that for decades, that's it, that's all you need to do and you would be a rich person when you retire, why complicate it further?
April 13, 2023, 12:35:48 PM
I've been hearing this kind of news since those collapse exchanges and other companies go bankrupt. I have no words, but I feel loss for them as they invest big money, and the problem is that they took a loan, they put their retirement almost everything, and the result is they really go broke, as in broke enough that they needed to start again in the beginning. This is really a big lesson for us: we need to invest what we can afford to lose just to be safe, even if we regret later on not going all in when we got a profit. It is better to be safe than sorry.
Diversifying is really needed when it comes in investing, it’s not enough that we invest in crypto, stocks or real estates since if something goes wrong like what happens in some banks or projects we invested we will lose all and will not be able to recover from loss if we don’t have a backup investment or plan. It’s okay to be a aggressive investor provided we also jave some insurance for our retirement and health and a emergency savings so we can still continue our live incase something goes wrong in our investments. April 13, 2023, 12:20:02 PM
That's another sad news and might impact the no coiners that this market is giving a tough life and making people want to destroy their lives and end it.
I feel bad for that guy, he just can't contain his emotion of losing and also the responsibility that he has to face after losing a lot in investing in crypto with all of those loaned money.
Another lesson to be learned by everybody that we shouldn't be investing on this market if the money is going to come from a loan. Don't loan to invest in crypto even in bitcoin, please.
I feel bad for that guy, he just can't contain his emotion of losing and also the responsibility that he has to face after losing a lot in investing in crypto with all of those loaned money.
Another lesson to be learned by everybody that we shouldn't be investing on this market if the money is going to come from a loan. Don't loan to invest in crypto even in bitcoin, please.
That's such sad news and I couldn't imagine the emotional struggle that the guy has been experiencing that he even tried to commit suicide just to escape.
We should keep in mind that crypto investment is very risky and loaning is not a good idea to enter it. We should only invest what we can afford to lose and as much as possible, do not invest the funds that we don't really own. I feel sorry for the guy and for his family. He still has a chance to correct everything and to move forward.
April 13, 2023, 12:17:56 PM
I've been hearing this kind of news since those collapse exchanges and other companies go bankrupt. I have no words, but I feel loss for them as they invest big money, and the problem is that they took a loan, they put their retirement almost everything, and the result is they really go broke, as in broke enough that they needed to start again in the beginning. This is really a big lesson for us: we need to invest what we can afford to lose just to be safe, even if we regret later on not going all in when we got a profit. It is better to be safe than sorry.
April 13, 2023, 10:57:06 AM
The investment was not his alone but he collected the money from various sources. He took loans and also was using the pension from his mother. Definitely, he had no plans and no idea what he was doing.
This is another lesson to learn in cryptocurrency investment. I can imagine what he was thinking after losing out in the investment. Reading the story reminded me of Sam Bankman-Fried who through him many investors lost hodlings in ftx but he never tried to take his life
Well on a more serious note we need to learn not to be greedy, investing as we have the capacity won't lead into suicide mission. April 13, 2023, 10:02:23 AM
Thank God he was unable to take his own life, maybe if he invested that money on Bitcoin he will still be smiling right now.
It shows how lacking he is when it comes to crypto investment, this is very bad, you can't do it right if you know too less about a business that you are about to venture in, and it's even more riskier with the internet.
Before you venture into anything online make sure you do some research first or ask questions because online investment is one of the riskiest, there are too many scammers online that dine through scamming people, it's their daily job.
The funny part is taking loans and borrowing money from people to invest on something he has no clue about. That's crazy.
It shows how lacking he is when it comes to crypto investment, this is very bad, you can't do it right if you know too less about a business that you are about to venture in, and it's even more riskier with the internet.
Before you venture into anything online make sure you do some research first or ask questions because online investment is one of the riskiest, there are too many scammers online that dine through scamming people, it's their daily job.
The funny part is taking loans and borrowing money from people to invest on something he has no clue about. That's crazy.
April 13, 2023, 08:38:37 AM
Apparently, the person in the story is newbie who flouted the laws of investment especially crypto investment. He even used loan, his mother's pension and other moneis he knew he couldn't afford to lose and poured it into crypto. I can bet that the so-called crypto he invested the money into was a shit coin. Well, I am glad he didn't died. People must educate themseves about cryptocurrency before delving into it. It is high risk. Avoid using money you cannot afford to lose. Join a community and ask all the questions you have about it before you invest. And if it is not bitcoin tread with extreme caution.
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April 13, 2023, 06:47:43 AM
One thing you should bare up in mind that you should really be that knowing about the risks involved when you are dealing with crypto investment and never ever take up some loan nor make use of others peoples money to invest into something which you do believe that it would pumped.We know that this market is highly speculative and there's no way that you could be able to predict that it would be ending up profitable.
What if the result would be the other side of things? For sure you would really be putting yourself into a huge problem which it would really be causing up this kind of situation or condition
where you would really be seeing that taking up some suicide would be only the solution, it is really just that sad that people do end up on this kind of situation.
Unfortunately, many people still don't know about the risks involved in investing in crypto and just follow the advice of others without checking or looking for more information. They are tempted by offers of big profits offered by someone who has already joined. And they are even willing to invest using a lot of money but soon, they will lose all their money because the project is fake. This is where we must be wise in managing the money we want to use as an investment and don't easily believe other people's explanations, especially when listening to returns that look good to be true. What if the result would be the other side of things? For sure you would really be putting yourself into a huge problem which it would really be causing up this kind of situation or condition
where you would really be seeing that taking up some suicide would be only the solution, it is really just that sad that people do end up on this kind of situation.
April 13, 2023, 05:33:56 AM
Tsk tsk tsk. There was also a similar situation here in Philippines about someone who almost committed suicide after getting scammed I think it was Php 2,000,000 more roughly around $40,000. I didn't really know what happened to him and how was he scammed that huge, and I wasn't really interested to read the news in the first place. I do feel bad about him, but mostly of it due to insufficient knowledge regarding crypto, at that time as far as I can remember it was when axie was really popular in eastern countries like ours. Bad people took advantage of that trend and somehow one of our fellow countrymen got victim and almost resort to suicide. Due to that event, thr government became stricter in terms of using bank accounts, custodial wallets and even KYC and warned the public about the risks of investing crypto and of course some didn't forget to talked trash to the crypto community.
All in all, i felt bad about the guy that OP mentioned and also my fellow Filipino, and hopefully in the near future people will be more wiser in terms of their investments.
First of all life is just one gift we can't get back, you need to live in order to have another chance, if you die then it's over and there is no repeat action, you are not going to get anything back ever again, its game over. So even if you have the worst possible life, I am against suicide because even if you live 40 years in the worst possible life, maybe the next 40 will be amazing? Is there a guarantee that it will go on being bad forever?All in all, i felt bad about the guy that OP mentioned and also my fellow Filipino, and hopefully in the near future people will be more wiser in terms of their investments.
I prefer being in jail then being dead, I prefer anything to being dead, because dead means it's over whereas life means there is always a possibility that you can be fixed. That's why it's important to figure out a way to get better and do better in the long run and not stop.
April 11, 2023, 06:21:21 PM
He's got the IT/tech background so I guess that he's aware of the things that circulates in the crypto market. It's just sad to see people trying to solve their investment problems by ending their lives. So, there's a deeper story on this news of this guy. Don't use anyone's money to invest or gamble with what you've known for a while. Someone has to always be reminded about this that if it's not your money, do not have the desire of spending it for something else like in investments. Also, this...
He broke first rule of investment.
Only invest what you can afford to lose.
I really want to say something nasty and flippant, but I won't.
Instead I will hope that he learns from this and does not over spend on investments.
I agree, that basically had pushed him to do this attempt. Without having enough money to invest and going on with investing more by not understanding the risk, you'll be ending up suffering that thought. I'm also thinking the same that there will be a lot of straightforward words to be said on him but he's in an unfortunate situation to absorb those. Only invest what you can afford to lose.
I really want to say something nasty and flippant, but I won't.
Instead I will hope that he learns from this and does not over spend on investments.
April 11, 2023, 06:18:15 PM
One thing you should bare up in mind that you should really be that knowing about the risks involved when you are dealing with crypto investment and never ever take up some loan nor make use of others peoples money to invest into something which you do believe that it would pumped.We know that this market is highly speculative and there's no way that you could be able to predict that it would be ending up profitable.
What if the result would be the other side of things? For sure you would really be putting yourself into a huge problem which it would really be causing up this kind of situation or condition
where you would really be seeing that taking up some suicide would be only the solution, it is really just that sad that people do end up on this kind of situation.
What if the result would be the other side of things? For sure you would really be putting yourself into a huge problem which it would really be causing up this kind of situation or condition
where you would really be seeing that taking up some suicide would be only the solution, it is really just that sad that people do end up on this kind of situation.
April 11, 2023, 06:12:10 PM
Investments have its own risks, that’s why we don’t have to rush on it if we know in ourselves that we are not yet ready financially and emotionally. And investing using other people’s money or let’s say investing through borrowed money is definitely a bad thing. You could have screwed it in the future if your investment fails and used up all your money. That’s why invest only with your own money that you can afford to lose, if you lose it then you won’t have regrets. If you make it more productive and profitable, then good thing for you.
Life is all about risk, and entrepreneurship let us to understand that risk take are liable to propagate at any point in time, do realise that no investment that doesn't involve risk taking, so borrowing or lending funds to venture investment is not a wrong conception, what matters is the ability to exactly what you are investing on, I have seem someone who lend money from bank and venture into car spare part, and today the person is a billionaire, I'm not condemning the fact that using what you can afford to lose for crypto investment is bad agenda or negative advice, but I put it to you that without risk taking Elon musk won't have gotten to the level its today, what is into investment is two things, advantages and disadvantages, profits and lost, either you experience or encounter one and leave one, so in summary lending money to establish business or go into investment is very supportive from my perspective April 11, 2023, 04:58:26 PM
Just responding due to subjects of the thread, invest is something we have think otherwise before going into investment because I believe that in investment human need to be extremely careful before it invest, secondly invest what you afford to loss, that's while it's encouraging to ensure that you use your spare money to invest in a platform you know quite well you have not mastered since you really want to take the risks.
Investments have its own risks, that’s why we don’t have to rush on it if we know in ourselves that we are not yet ready financially and emotionally. And investing using other people’s money or let’s say investing through borrowed money is definitely a bad thing. You could have screwed it in the future if your investment fails and used up all your money. That’s why invest only with your own money that you can afford to lose, if you lose it then you won’t have regrets. If you make it more productive and profitable, then good thing for you. 
April 11, 2023, 12:57:30 PM
The biggest problem in this story was IMO that he was using the money of other people, which means he'd be in debt and also that he invested what he absolutely couldn't afford to lose, and that's a serious mistake right there. But there's also a threat involved, allegedly, which could prompt the feeling of helplessness and viewing ending life as the only way out. I'm happy that his life was saved, and I hope there will be enough support and options for him to gradually solve the problem of losing money. It's unclear from the story whether the money was lost in a scam or was it a perceived loss (because a coin is down) that might actually turn out to be okay later.
April 11, 2023, 10:24:47 AM
This news is from the IT Hub of India, that is Kolkata. The Techie who is just 23 years old had invested a big amount of money in the Crypto space. The investment when asked him was around INR 30 lakh ~ $ 36,600 in US dollars. That is a definitely huge amount considering his age and country of residence. Even in America, 36K USD is pretty handsome money and you can do many things with it.
So the gravity of this can be sensed easily.
He was saved by the Cops after a local Cab driver alerted the police and the response team was at the incident quickly.
He was trying to jump from the largest bridge on the river named "Hooghly" to end his life.
The investment was not his alone but he collected the money from various sources. He took loans and also was using the pension from his mother. Definitely, he had no plans and no idea what he was doing.
Just save up your bitcoins in cold storage, only buy what you can afford to lose and most importantly don't fall for the traps of crypto space.
Bitcoin is the only savior in crypto and if you own the keys, you win the market.
Read the news here:Techie loses Rs 30 lakh in crypto market, tries to jump off ..
So the gravity of this can be sensed easily.
He was saved by the Cops after a local Cab driver alerted the police and the response team was at the incident quickly.
He was trying to jump from the largest bridge on the river named "Hooghly" to end his life.
The investment was not his alone but he collected the money from various sources. He took loans and also was using the pension from his mother. Definitely, he had no plans and no idea what he was doing.
Just save up your bitcoins in cold storage, only buy what you can afford to lose and most importantly don't fall for the traps of crypto space.
Bitcoin is the only savior in crypto and if you own the keys, you win the market.
Read the news here:Techie loses Rs 30 lakh in crypto market, tries to jump off ..
He broke first rule of investment.
Only invest what you can afford to lose.
I really want to say something nasty and flippant, but I won't.
Instead I will hope that he learns from this and does not over spend on investments.
April 11, 2023, 10:23:24 AM
This news is from the IT Hub of India, that is Kolkata. The Techie who is just 23 years old had invested a big amount of money in the Crypto space. The investment when asked him was around INR 30 lakh ~ $ 36,600 in US dollars. That is a definitely huge amount considering his age and country of residence. Even in America, 36K USD is pretty handsome money and you can do many things with it.
So the gravity of this can be sensed easily.
He was saved by the Cops after a local Cab driver alerted the police and the response team was at the incident quickly.
He was trying to jump from the largest bridge on the river named "Hooghly" to end his life.
The investment was not his alone but he collected the money from various sources. He took loans and also was using the pension from his mother. Definitely, he had no plans and no idea what he was doing.
Just save up your bitcoins in cold storage, only buy what you can afford to lose and most importantly don't fall for the traps of crypto space.
Bitcoin is the only savior in crypto and if you own the keys, you win the market.
Read the news here:Techie loses Rs 30 lakh in crypto market, tries to jump off ..
Did you peep that young tech guy who got himself caught up in the seedy underbelly of the crypto game? It's wild how many success stories there are out there, but there's also some serious losses to be had if you're not careful. You gotta keep a real critical eye when you're thinking about investing in this world.So the gravity of this can be sensed easily.
He was saved by the Cops after a local Cab driver alerted the police and the response team was at the incident quickly.
He was trying to jump from the largest bridge on the river named "Hooghly" to end his life.
The investment was not his alone but he collected the money from various sources. He took loans and also was using the pension from his mother. Definitely, he had no plans and no idea what he was doing.
Just save up your bitcoins in cold storage, only buy what you can afford to lose and most importantly don't fall for the traps of crypto space.
Bitcoin is the only savior in crypto and if you own the keys, you win the market.
Read the news here:Techie loses Rs 30 lakh in crypto market, tries to jump off ..
So, this guy was hustling up cash from all kinds of sources to throw it all in on crypto. Shows how wild easy it is to get swept up in the hype. But investing is not a game, and you need to be on top of your performance. You gotta think hard about the risks before you do anything, you feel me?
The po-pos acted quick and saved the young buck. Mental health is just as important as financial health, and you gotta take care of both. That whole deal should be a wake-up call for anyone thinking of jumpin' into the crypto game. You gotta do your research and get the expert's opinion before you make any big moves.
April 11, 2023, 10:20:09 AM
It seems that there are still people who don't really understand what "use the money you can afford to lose" means, leading one person to want to kill himself after failing to invest in the crypto space. He even dared to take a loan and his mother's pension to invest, which was very risky. And it seems he doesn't understand how to invest in crypto and just goes into crypto. We hope this will be a lesson for us not to do things like that because, after all, in investing in anything, we must understand how to start and only use a portion of our total money.
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