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.
Topic: Invest your money wisely - another lesson, Techie tries to suicide. - page 5. (Read 690 times)
April 11, 2023, 08:15:27 AM
April 11, 2023, 07:07:28 AM
I wonder how did he lose that much money. I mean in what way.
1. Did he got attracted and fell into these typical investment scams that are promising very high return in just a short amount of time.
2. Did he invest all of that money into some new projects out there or a low-market cap coin.
3. Did he trade, and lost eventually.
P.S. Well, thanks to @Poker Player for clarifying because as I'm posting this, I saw his post, and I saw that the guy lost his money into gambling, and he even tricked his mother. This just shows how ridiculous a person can think when it comes to gambling to the point that he will fool anybody, and even your family member.
Savior of crypto? Like Bitcoin is "God"? I mean come on. Many people are using different words with Bitcoin that isn't related at all. Bitcoin can't save you in crypto? What if the bear market happens? Will Bitcoin prevent you from getting your money lost? Will Bitcoin save you if all those altcoins go down? Bitcoin isn't the savior whatsoever. Bitcoin is just an investment, an asset, and a currency that's all.
1. Did he got attracted and fell into these typical investment scams that are promising very high return in just a short amount of time.
2. Did he invest all of that money into some new projects out there or a low-market cap coin.
3. Did he trade, and lost eventually.
P.S. Well, thanks to @Poker Player for clarifying because as I'm posting this, I saw his post, and I saw that the guy lost his money into gambling, and he even tricked his mother. This just shows how ridiculous a person can think when it comes to gambling to the point that he will fool anybody, and even your family member.
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.
I would agree except on the part that Bitcoin is the savior of crypto. Bitcoin is the only savior in crypto and if you own the keys, you win the market.
Savior of crypto? Like Bitcoin is "God"? I mean come on. Many people are using different words with Bitcoin that isn't related at all. Bitcoin can't save you in crypto? What if the bear market happens? Will Bitcoin prevent you from getting your money lost? Will Bitcoin save you if all those altcoins go down? Bitcoin isn't the savior whatsoever. Bitcoin is just an investment, an asset, and a currency that's all.
April 11, 2023, 06:25:45 AM
Let this be a lesson to people like us that you can't pour all your wealth into a single investment with no guarantee that your money is returned. Also don't fall for hypes that cause losses in online investment. As for investing in bitcoin, there still a risk because the price can go down and up. So it is better to study the decision to be taken first to avoid mistakes.
April 11, 2023, 05:59:46 AM
You win the market by owning the keys! what saying is that?
The link you've provided, it's got some blurry display at my end and so, am not able to get a good read at it.
Yeah it's not correlate between owning the keys and the victim got scammed through shitcoin he invested. If the story talking about the project got hacked or the exchange collapse, it's true owning the keys will make us win. More importantly investing in Bitcoin don't have a guarantee if we make money in the future, we can only speculate based on the previous super cycle.The link you've provided, it's got some blurry display at my end and so, am not able to get a good read at it.
The case is similar like Luna, nothing new about this kind news.
April 11, 2023, 03:18:37 AM
Crypto is risky like life. Slow and steady wins.
Carefully investing what you can afford to lose can secure your financial future. Who knows? Cryptocurrency can be lucrative with patience and dedication.
Remember that the turtle, not the hare, won the race next time you want to take a large risk or move swiftly. Stay calm, focus, and follow the guidelines to achieve your goals and live your dream life.
Carefully investing what you can afford to lose can secure your financial future. Who knows? Cryptocurrency can be lucrative with patience and dedication.
Remember that the turtle, not the hare, won the race next time you want to take a large risk or move swiftly. Stay calm, focus, and follow the guidelines to achieve your goals and live your dream life.
April 11, 2023, 12:41:04 AM
Let me correct you:
You are presenting the case as if the protagonist was a poor victim of circumstance and had been forced to swindle people in order to gamble in the cryptocurrency casino, and no, that is not the case, no matter how much he tried to commit suicide. What takes the cake is that he swindled his mother out of her pension fund to gamble.
For that type of person, advice is useless. They are too impatient. They can't put up with years of doing DCA to get a 3x every 4 years. They need more, much more, and they end up losing everything, including the money they swindle from others.
... The Techie who is just 23 years old had invested gambled a big amount of money in the Crypto space. The investment gamble when asked him was around INR 30 lakh ~ $ 36,600 in US dollars...
He was trying to jump from the largest bridge on the river named "Hooghly" to end his life.
Theinvestment gamble 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. He scammed his mother.
He was trying to jump from the largest bridge on the river named "Hooghly" to end his life.
The
You are presenting the case as if the protagonist was a poor victim of circumstance and had been forced to swindle people in order to gamble in the cryptocurrency casino, and no, that is not the case, no matter how much he tried to commit suicide. What takes the cake is that he swindled his mother out of her pension fund to gamble.
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.
Bitcoin is the only savior in crypto and if you own the keys, you win the market.
For that type of person, advice is useless. They are too impatient. They can't put up with years of doing DCA to get a 3x every 4 years. They need more, much more, and they end up losing everything, including the money they swindle from others.
April 10, 2023, 11:33:14 PM
In this aspect I believe that some people does not think wisely before investing their money into any investment platform so I believe that that is what actually cause some people to lose for investment the Investor ,so I think that is good for someone to cross-check investment before you put in your money for such investment or for such platform
Scammers deceive innocent people by giving them good profits on early days of their investment and after that they convince their investor to invest more to get more huge returns and they start to scam them after that.
To bad for people caught by the huge profit trap set up by those frauds and its really good sometimes that we educate our young relatives about this to avoid the same situation like what happen to the guy in the topic.
I won't blame the scammers entirely because you'll never fall into those scam traps if you're not greedy. If you don't have a need to get rich quickly, no one can seduce you with those scam projects.
An alarming situation today is that many young people do not want to work but just want to have a lot of money, they are lazy, do not work hard but want a rich life. For these types of people, they need to learn a lesson, I will not mourn or pity them. He is 23 years old, no longer an innocent age.
April 10, 2023, 10:59:52 PM
With his job he should be a smart person and will understand that the way he did but failed was not a wise move.
The news is not complete enough because it doesn't tell how he lost his investment because it only says he lost in the crypto market, my guess is he bought trash coins hoping for big profits in a short time, but apparently it didn't work, but he should still have the coins even though the price dropped .
A lot of news out there gives misinformation which is why many would think crypto is the way to get rich
The news is not complete enough because it doesn't tell how he lost his investment because it only says he lost in the crypto market, my guess is he bought trash coins hoping for big profits in a short time, but apparently it didn't work, but he should still have the coins even though the price dropped .
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.
This is very easy to do for those of us who have experienced at least 2x the 4-year cycle so we can see for ourselves how Bitcoin works, but for those who enter the crypto world because of news about people getting rich don't understand that to get profit from Bitcoin it takes time and more the longer you keep it, the chances of getting even bigger profits.Bitcoin is the only savior in crypto and if you own the keys, you win the market.
A lot of news out there gives misinformation which is why many would think crypto is the way to get rich
April 10, 2023, 07:00:43 PM
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 ..
It is unpleasant to find out that someone, for the sake of money, or wrong decisions, is trying to end his life....
The most valuable thing we have been given is LIFE! I will not discuss this issue at the level of religions and views, but life is SACRED!
This is the main...
Further .. Suicide, from the point of view of psychology, and for the described situation, is the action of a very weak person who understands that he does not have the strength, skills, to change something, in a situation where he thoughtlessly made an act (investment in the crypto world), and now decided to "easily" get away from reality. He took money from people without thinking and without assessing the risks. With a high probability, he told "investors" about high incomes, and hoping to earn money on this too. And when the reality turned out to be not the same as he thought up for himself, he decided in 10 seconds to "solve the problem" by jumping from the bridge! Briefly evaluate - stupid and cowardly!
April 10, 2023, 06:07:06 PM
In this aspect I believe that some people does not think wisely before investing their money into any investment platform so I believe that that is what actually cause some people to lose for investment the Investor ,so I think that is good for someone to cross-check investment before you put in your money for such investment or for such platform
Scammers deceive innocent people by giving them good profits on early days of their investment and after that they convince their investor to invest more to get more huge returns and they start to scam them after that.
To bad for people caught by the huge profit trap set up by those frauds and its really good sometimes that we educate our young relatives about this to avoid the same situation like what happen to the guy in the topic.
April 10, 2023, 05:41:27 PM
if you own the keys, you win the market.
You win the market by owning the keys! what saying is that?The link you've provided, it's got some blurry display at my end and so, am not able to get a good read at it.
From what you've stated in OP, he must have been such a cunning young man to have come by such ambition and the means for which he felt he could have amassed such wealth.
He ignored all that could have protected him and was thus left by himself and to his risks and he got engulfed by the market.
The lose is huge but, not what to die for, he could always build from there and hope to pay back to the friends he must have ruined. Family will always give him the time he needs and be sympathetic.
April 10, 2023, 05:12:43 PM
In this aspect I believe that some people does not think wisely before investing their money into any investment platform so I believe that that is what actually cause some people to lose for investment the Investor ,so I think that is good for someone to cross-check investment before you put in your money for such investment or for such platform
April 10, 2023, 03:55:10 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.
April 10, 2023, 09:36:01 AM
~
I mean, the guy was probably drowning in all of the miserable things happening that he couldn't think properly anymore. I really can't blame him despite how wrong he is.~
I agree. Although using debt to invest is good if you know what you are doing, a rational investor would never invest borrowed money on any crypto even if it is Bitcoin. Even the majority of seasoned traders never invest in this kind of way (that is, if there are even veterans who consider doing this). It's sad that he would let his greed get the best of him and make him do irrational decisions, he must have been so hung up on the thoughts of what he gains that he disregarded all the red flags in his trading plan. If he does manage to get back up after this misfortune, I wish he'd really keep in mind what he has learned from this experience.
April 09, 2023, 05:04:47 PM
This is why before making an investment, people should really think about it and learn about it before releasing money. If the dude is already in the tech industry and knows about crypto in general, he already knew that there are risks. He just had bad financial management that he never understood the risks. If he did then he'll not put everything in crypto and do some risk management at the least. But yeah, a lot of people in the tech space are generally not good investors so this makes sense in a way.
a very hard lesson for him. people should learn from this situation. you can hear anyone saying invest what you can afford to lose. however, some people will still take the risk even if the money is not really his. but if you are on that very situation, think twice. you can always find money, work hard for it. but the life, you only have one life. if there are other people who are relying on you, choose your best option on this matter. face the shame or any other consequences. but remember, you only have one life to live.
April 09, 2023, 04:57:49 PM
This is why before making an investment, people should really think about it and learn about it before releasing money. If the dude is already in the tech industry and knows about crypto in general, he already knew that there are risks. He just had bad financial management that he never understood the risks. If he did then he'll not put everything in crypto and do some risk management at the least. But yeah, a lot of people in the tech space are generally not good investors so this makes sense in a way.
April 09, 2023, 02:18:58 PM
This news is from the IT Hub of India, that is Kolkata.
Whenever I come across the word Kolkata, I remember the stigma it has acquired as an epic centre for scam in India. I watch YouTube on a regular the so much scam activities that go on around there in the various supposed "call centres".Quote
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.
Definitely, that's a huge sum of money anywhere in the world. At that age, I believe he have risked other people's cash and his mum's pension on cryptos. It was rascality on his part.Quote
Read the news here:Techie loses Rs 30 lakh in crypto market, tries to jump off ..
I don't know if it's from my device, but from my angle the site you linked up here is horrible with unreliable and unreadable interface. 
April 09, 2023, 01:03:07 PM
I just saw this news today. It is quite unfortunate. It reminds me of 2017 - 18 where bitcoin touched 22k level and a whole new group of investors rush to buy 8t even using the credit card loan. Majority of them had to pay out of their pocket until recently. Taking loan and owning such a volatile asset like bitcoin is totally wrong.
Unpopular opinion, but bitcoin will be blamed for this incident and commercial banks will use this story in their favour soon.
Unpopular opinion, but bitcoin will be blamed for this incident and commercial banks will use this story in their favour soon.
That's why it would never be a great idea to use loans and money that you can't afford to lose in Bitcoin. People would thought the bullish run always last for long they don't know that it might drastically dump due to its volatile system of Bitcoin. Investing money that you'll need soon would just worsen your situation. You always need to have a emotional stability and wise thinking most importantly the knowledge whenever to invest in a good time. Unfortunately I think those people you've mentioned probably got fomo to the pump of Bitcoin where they rushed into it despite the fact those money were loans and credit. Hopefully they'll take it as a lesson and wouldn't hurt themselves for that experiences. Mistake can be corrected, hurting yourself would not do good.
April 09, 2023, 12:24:22 PM
I just saw this news today. It is quite unfortunate. It reminds me of 2017 - 18 where bitcoin touched 22k level and a whole new group of investors rush to buy 8t even using the credit card loan. Majority of them had to pay out of their pocket until recently. Taking loan and owning such a volatile asset like bitcoin is totally wrong.
Unpopular opinion, but bitcoin will be blamed for this incident and commercial banks will use this story in their favour soon.
Unpopular opinion, but bitcoin will be blamed for this incident and commercial banks will use this story in their favour soon.
April 09, 2023, 12:21:44 PM
I have read the news and it is not mentioned what type of crypto but I think it is a kind of shitcoin that he is investing in so he wants a big return but if he invests in bitcoin then the events will not be like maybe even he will be fine.
Don't be tempted by tempting shitcoins because those 100x high returns can kill anyone with overly high hopes, remember no coin is worth holding onto unless bitcoin and others are removed from our portfolio.
Lastly, he was involved in some other money, including from loans, and it was clear that this was a recklessness that the young man had committed, he really dared to take a big risk, but in the end he was frustrated because there was no way he could repay the loan.
I think we have to understand how to invest in the crypto world and have to be prepared for everything, but the important thing is never to do anything beyond our capabilities.
Don't be tempted by tempting shitcoins because those 100x high returns can kill anyone with overly high hopes, remember no coin is worth holding onto unless bitcoin and others are removed from our portfolio.
Lastly, he was involved in some other money, including from loans, and it was clear that this was a recklessness that the young man had committed, he really dared to take a big risk, but in the end he was frustrated because there was no way he could repay the loan.
I think we have to understand how to invest in the crypto world and have to be prepared for everything, but the important thing is never to do anything beyond our capabilities.
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