Suicide due to losses due to investment in virtual currency - page 15.

ruthbabe

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Quote from: TheGodson on February 05, 2018, 08:27:44 AM

So which is it? He won 200 million or 200 thousand? Wait no, he lost that much? What you wrote doesn't make any sense. I assume you've made some typos and meant to say he lost a shit ton of money.

I think OP got it in a news online, and yes it's true, he had previously earned 200 Million Won (approximately 250,000 USD). However, due to the impact of negative news in South Korea about the possibility of closing cryptocurrency exchanges and banning cryptocurrency trading all that amount he won was lost in just a matter of days.

tinytrader

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People commit suicide for virtual currency or any other reason ? It is pure insanity. We all give priority to virtual thing over reality. What is the use of any asset if one can't enjoy or use that for own benefit? I am not ready to admit that we live for money. Rather, money is needed to live. We are greedy and we do not know how to enjoy our life. I would never post the new in this community.

GalaxyWorld

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According to my assessment, the virtual money market is a market that is full of potential for us to invest. But I advise all of you not to shed all your possessions into bitcoin, as there is no market that gives you much profit without the risk.

gabmen

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Well that's sad really. And such a waste. This should actually be a lesson to all would be traders. First, never invest any amount that you're not prepared to lose. What he lost was not a joke and anyone can easily fall to depression. Two, did he lose it becauase of the correction? Because any trader would advise that the only time you'll lose really is when you sell at a loss. So patience could have saved the poor kid had he practiced it. Emotions probably took the better of him in this case. Seeing you losing that amount can flood you with all negativity.

flashbit

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Quote from: burdagol12345 on February 07, 2018, 09:00:33 PM

Commiting suicide is a crime not in your body and also your soul,so why do this instead of enjoying life.this korean student he seriously do it, everything happen into his investment,without knowing all this material things in this world are gone,and the most important is our precious life and this investment of cryptocurrency is only an instrument given by the almighty, for the purpose of all people to have a way of living.depression is so hard to understand,and take over this kind of situation,so its much better we must first accept the fact,win or loss in whatever happen to our investment because its also disame in gambling.our head is better than our emotional feeling,so we i hope we must choose the right decision.

It's not the first one and it won't be the last who commits suicide because he lost money (or his house, or bitcoin, whatever) ....

Look at this young american boy who commited suicide, he was 29. (https://www.reddit.com/r/Bitcoin/comments/7hmjdw/my_brother_killed_himself_because_of_btc/)

It's very sad indeed but not everyone has the resilience to accept to lose, not everyone can keep going on, thinking he's a loser (even if it's not true, sometimes you win, sometimes you lose). Some people are ashamed to ask for help.

RIP for all of them

burdagol12345

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Quote from: nhieutam2008 on February 05, 2018, 08:14:20 AM

A Korean student has committed suicide after falling into a depression because of a big loss of money invested in bitcoin and cryptocurrency. A 20-year-old Korean student has been found to have committed suicide after falling into depression due to huge losses in bitcoin and cryptocurrency. The body of the victim was found at his home. The victim has earned 200 million won (about 200,000$) from investments in cryptocurrency.
it's so sad. Rest in peace.

Commiting suicide is a crime not in your body and also your soul,so why do this instead of enjoying life.this korean student he seriously do it, everything happen into his investment,without knowing all this material things in this world are gone,and the most important is our precious life and this investment of cryptocurrency is only an instrument given by the almighty, for the purpose of all people to have a way of living.depression is so hard to understand,and take over this kind of situation,so its much better we must first accept the fact,win or loss in whatever happen to our investment because its also disame in gambling.our head is better than our emotional feeling,so we i hope we must choose the right decision.

czhy20

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Why would he commit suicide when he earned $200k? Crypto is really down right now, it's sad but he must know that it will recover right? That boy must be suffering from something else, he's still young and there's a lot more things he can do to his life.

flashbit

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Hi

This happened in South Korea (Busanjin District) which is well known for its suicide rate, caused by its high-stress society, and it's among the highest in the world.

Quote

The South Korean Health and Welfare Ministry estimates that 90% of people who committed suicide in 2016 had a diagnosable psychiatric illness, such as depression or anxiety, conditions often caused by stress.

https://bpr.berkeley.edu/2017/10/31/the-scourge-of-south-korea-stress-and-suicide-in-korean-society/

Suicide is never due to one factor.

Kez1817

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That is a big lesson for everyone. Life is too short and so important than money and bitcoin. Think first your life before doing anything. And the one lesson we learn from that korean,just invest in crypto the amount that you can afford to lose ,so that you can avoid depression.

farhaan

sr. member

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Its really sad to hear and we must know to control our emotions especially during such crypto currency related activities.Its shocking to see that some people are getting addictive to crypto trading.At first, they get attracted by the high profits got from crypto currencies and later they themselves become victims of it.We must have a plan and stick to it and should not consider sky as the limit for earning profits.

thenameisjay

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Quote from: nhieutam2008 on February 05, 2018, 08:14:20 AM

A Korean student has committed suicide after falling into a depression because of a big loss of money invested in bitcoin and cryptocurrency. A 20-year-old Korean student has been found to have committed suicide after falling into depression due to huge losses in bitcoin and cryptocurrency. The body of the victim was found at his home. The victim has earned 200 million won (about 200,000$) from investments in cryptocurrency.
it's so sad. Rest in peace.

I guess he can't handle the pressure. This just goes to show that bitcoins aren't for the faint of heart nor strong will of the mind. But I guess we can't blame the poor guy. He must've dedicated his whole life to cryptos that without the profits, it would meaningless to keep his life living.

ralle14

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Quote from: allthebitandbobs on February 07, 2018, 05:08:26 PM

he much have bought when they were 20k ,He much have paid 23-24 k since it more expensive to purchase in Korea .Anybody know the exact amount be purchase?

There's no specific details stated in the article that i've read but the prices of bitcoin in korea shouldn't be that expensive and it depends on where he bought those bitcoins.

Quote from: Sumo on February 07, 2018, 03:45:25 PM

This is really very sad news, but how much is it believable? Maybe it's just a negative informational throw-in during the fall of the market?

According to the article, the report came from the Busan Jin Police Station you could go there to find out more about the incident or contact the mother of the student.

Quote from: green547 on February 07, 2018, 05:14:23 PM

Why would you kill yourself over money. Material things and money will not make you happy, its just an empty journey. In the end its just pointless numbers on a screen and you can't take anything with you when you die.

We would never know he could be facing a lot of problems before he lost his investment.

lienfaye

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Depression takes many lives. Thats a lot of money indeed and losing such amount is really not a joke but he should be wise enough before this dip happened or right after their government announced the crack down in crypto trading. Nevertheless, its a waste taking your life because of money. It can still be earn if you strive and start over again.

When you enter in this kind of investment its important to be aware of what might be the consequences of your actions because not all the time they go as planned.

tiggytomb

legendary

Activity: 1848

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This is horrible to hear about, any time someone thinks suicide is the only way out truly is saddening.
To become so involved in the thinking that money is the only thing and then fall into the trap of going heavily into debt I can understand how easy it would be to think there is no way out and nobody can help you.

greenclub09

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Quote from: nhieutam2008 on February 05, 2018, 08:14:20 AM

A Korean student has committed suicide after falling into a depression because of a big loss of money invested in bitcoin and cryptocurrency. A 20-year-old Korean student has been found to have committed suicide after falling into depression due to huge losses in bitcoin and cryptocurrency. The body of the victim was found at his home. The victim has earned 200 million won (about 200,000$) from investments in cryptocurrency.
it's so sad. Rest in peace.

Sadly he just at 20 years old, he should have had a long way to go in the future, crypto money is easy to loose but easy to earn if we work hard and having a patient and clear mind to overcome the frustrating times when the market drops. This event has taught me so much from patient in my investment and strategies that i should never invest in just one basket but using more than one basket will be much safer.

green547

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Why would you kill yourself over money. Material things and money will not make you happy, its just an empty journey. In the end its just pointless numbers on a screen and you can't take anything with you when you die.

allthebitandbobs

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he much have bought when they were 20k ,He much have paid 23-24 k since it more expensive to purchase in Korea .Anybody know the exact amount be purchase?

jhean_arcane

jr. member

Activity: 140

Merit: 2

This is sad! But unfortunately, people committing suicide due to losses in investments are not actually new news. High suicide rates are found in developed countries due to the reason that they cannot cope up with the stress brought about by their losses. It's like gambling. Might be one aggravating factor is the news in South Korea that the government is aggressive in regulating the exchanges of virtual currencies. I just hope that those who suffered losses will be able to find hope.

louisvuitoon

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Speculative market like this, is why one should be careful of what they invest with, and how much to invest in.
A good investment plan should not effect spending. You don't yolo.

Kildin11

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Merit: 10

It is a pity that not everyone can cope with their emotions. Life goes on, you do not need to go to such extreme measures. I hope this will be a lesson for the rest.

Topic: Suicide due to losses due to investment in virtual currency - page 15. (Read 2454 times)