Bitcoin Forum

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  .. (http://timesofindia.indiatimes.com/articleshow/99328505.cms?from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst)

What sad news to read; the guy's family should be grateful that the suicide attempt was not a success.

For those who don't know how the market works or how to conduct proper research for a project whether should invest in it or not, it has been echoed several times that they should just stick to Bitcoin, buy Bitcoin, and hodl while they continue their learning process.

For the case of the guy in Op, I'm sure he got his investment idea from the internet probably from a blog site, an article, or a hype group because the fact that he went ahead to borrow loans and even used his mother's pension indicates that he was promised a large return/profit from the investment.
The whole crypto space is crawling with scammers who are now disguising themselves in different projects, with their major aim which is to gather the money of investors and disappear into thin air.

I think he was not properly educated on blockchain and Crypto currency and how it works if not what he did would have been the last thought he would have had executing. Taking loan would not have been his resolution or alternative to investing in Crypto currency. It is either he was being too greedy or he was wrongly advised to the point of him going for such amount of money as a loan to invest in Crypto.

Secondly, looking at his frustration to the point of wanting to commit suicide shows he has no other sources of income to remedy the situation which he got himself into. This is why it is advised to have an alternative sources of income outside investment in Crypto so that you do not get taken unawares.

Lastly, going by his age and his current circumstances, that is a big thing to learn from that one should not go beyond his or her limit or point of elasticity.
This is a big lesson to learn from. Always do your own research before jumping in to anything.

Hearing about this young techie's bad luck with cryptocurrency is whack! But this should be a wakeup call to be hella cautious when investing in the crazy crypto world. You gotta have a solid plan and strategy before making any moves and only invest what you can afford to lose. Think of it like playing a sport, you gotta have a game plan and stick to it, yo!

Let's not be all negative, my fam. Instead, let's flip this script and get our investment hustle on. Why not link up with a crypto investment crew or chop it up with some other crypto fiends? Having a clique to bounce ideas off of and keep you motivated is key. And yo, who knows, you might even make some new fam in the process!

I feel so sorry for the guy in the OP. I know how frustrating it is to lose something, especially when that thing does not belong to you alone. After thinking about the huge loss and calculating how to pay back those debts, there was possibly no way to do it, and the people whom the guy owes to whom he might have promised a huge return might be on his neck. 

This will serve as a huge lesson to him, the people around him, and the readers of the story to be cautious of where they invest. Investment advice is always to invest what one can afford to lose, and it's never advisable for one to take another's fund to invest for them because the risk factor is very high. Places where investment by third parties is encouraged are if you own a standard investment company where your clients have to sign profit and risk management documents so that if anything were to happen to the capital, every party would know their responsibility. 

It's always safer to invest in things that we are sure of and not just some random project or random things we are being told by influencers or so-called financial experts, because if we are to incur any form of loss, those people will not be held responsible.

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.

This is really painful to read, sigh. I can only imagine the things that were and are still going through his mind right now. I bet he already racked up his brains hundreds if not thousands of times already just to find a solution or a way out of his mistake but just couldn't find any which has led him to his decision of unaliving himself. All those hopes and dreams that never happened and instead got replaced with unbearable feelings of guilt, regrets and so much more. Even I don't think I'd be able to have the courage to keep on living if I had made such a mistake. I wish he finds the strength to go on living. Sigh, such a young man. I hope this news would be spread more so that a lot of people would be able to learn from this guy's experience and be more careful with their investment plans.

It's obvious the guy invested in one of those pump and dump meme coin against a more trusted, reliable and widely accepted crypto such as Bitcoin, Ethereum, BNB and few others, honestly $36,600 is a massive investment in India to make matter worst he obtained some loans and pention from his parent, it's a pity that the failed investment had rekted the guy, however suicide isn't the last option when there is life there is hope the guy needed some counselling and encouragement and this is a wake up call to would-be investors to research very well or possibly invest in real and widely accepted crypto though the expected profit would not be massive however such investment is less risky and very reliable

Such a sad situation for anyone to go through, more especially in a strident economy we've found ourselves in but just like the op advised in his closing line, it's best to invest in crypto with an amount one can afford to lose and it's quite a bold step from the dude by taking loans and also using his mother's pension and I believe he had lofty plans of doubling or probably tripling it, but then shit happens.
 I also don't think taking his life was a good idea no matter how terrible the loss is because by doing that, he would have successfully attempted to putting his mum's life at risk because being left with such a trauma of losing her son and being left with loads of debt to pay can seize her life.
Sad, but always remember to either save your BTC in a cold storage or invest with a small amount.

From your post I would love to know if it was actually only on bitcoin his invested or does he also invested in other cryptocurrency aside bitcoin, because I know too well that anyone who invested in bitcoin would certainly one day gain back all his lost or their lost. But as for altcoin, well there's every tendency that such person standing in a chance of losing all they invested that is why is best advisable to make investment on bitcoin for longer term than just altcoin that can't even survive the bear market for long period of time.
I really feels for him 😭.

Investing, is something you think twice before going to invest, maybe he read some stories about crypto investment, or he was convinced by some persons,that why he take loan and even used his mother's pension indicates that he was promised a large return/profit from the investment.Without learning, or having any idea on bitcoin,he just jumped into bitcoin. Investment advice is always to invest what one can afford to lose, and it's never advisable for one to take loans to invest bitcoin because the risk factor is very high.Let us involve our selves in something we know in and out, or understand very well, know the risk that involves in it.Not some random project or random things we are being told by people.This is a great lesson for him and for the people around him and it's a lesson to lesson to learn from.

He made two grave mistakes. Although you didn't specify which kind of crypto he invested in I guess he didn't invest in Bitcoin, if he did he invested just a little. Bitcoin is not like money doubling where you just invest and predict your profit. And if you trade or invest in altcoins using exchanges you are taking a great risk and if you keep your money in exchanges, you are on your own.

Secondly, he borrowed money to invest in cryptocurrency, that's wrong. You only invest what you have or what you can afford to lose. Techie is depressed and he feels hopeless because of pressure from his creditors and great disappointment. There has also been a high rate of suicide globally mainly caused by economic problems. Thank God he was rescued, all he needs is medical attention and financial assistance.

Use decentralized wallets, deal on only bitcoin, and invest only what you can afford to lose.

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.

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.

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.

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".

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.

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.

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.

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.

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.

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

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.

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.

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!

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 .

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.
A lot of news out there gives misinformation which is why many would think crypto is the way to get rich

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.

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.

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.

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 case is similar like Luna, nothing new about this kind news.

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.

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.

I would agree except on the part that Bitcoin is the savior of crypto. :D

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.

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.

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.

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, 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.

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.

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.

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
 

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.

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...

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.

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?

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.

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.

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.


 

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.

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  ;D 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.

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.

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.

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.

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?

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.

$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.

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.

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.

Many might ended up on this situation if they continue to become greedy.
They are looking for an easy way to get rich when in fact this market is not a place for that not unless you want to get scammed where they offer a get rich scheme easily. Investing is very risky if you don’t know what you are doing, there is no shortcut here and you should do your best to learn everything before you go all in with your investments and make sure to have other source of income as well to be more financially free.

This story let us learn that we shouldn't touch other people's money or collect people's money after encouraging them to invest in something.  Not because it works for us one time, it will be a sure thing for the second time.  Many scammers do this kind of tactic where they let us earn money first and when we are hooked into it and invest more money, they go missing running with the funds collected from unsuspecting investors.


Not all people who get into this mess are greedy.  Others are just trying to help their friends relatives and known people to have the same profitable experience but alas, often times these kinds of guys are caught unaware and got scammed by the company he trusted along with the money collected from others.

The fact that the guy did not hide but instead wanted to commit suicide means he doesn't have an intention of scamming those people.  Sadly he never does his research that deep or too naive to think that investing and trading is as eassy as he thinks.

Something not so far from this happened in Turkey back in bull period, some people just take way too much risk and they end up not finding any other way out. I can't believe that they would do something that has the risk of dying. Like if you are right, that's great, but if you are wrong then you rather die than live being wrong? That is an option I rather not take if I can help it. Imagine a scenario where they tell you "you will have a million dollars or you will die", would you even consider it? That just doesn't make sense, sure we joke around about some stuff but I feel like it shouldn't even be a possibility. People should read this and learn a very valuable lesson about life from this for sure. Never bite bigger than you can chew.

Even having a knowledge wouldnt assure that you would really be avoiding some situations where greed is mainly been controlling which you do end up on making out decisions which is something that it isnt really that worth anymore or something risky on which you do really make yourself that put in danger. On the time that you would be financially be wrecked up then you would really be having that kind of thoughts
on suiciding to solve up all the problems you do have. This is why if you dont like to end up miserable or on an condition which you are on life threatening then you should avoid
on taking up a loan or making use of others money.

When he's started to ask loan from whoever it was, that's when it's gotta be the sign that he's doing a wrong thing. He's hyped I guess for that project which he's invested in. This what happens when someone invests to emotion and not with knowledge first.

That's what we can be happy for him but then I wish him to recover from this devastating experience because it's too much for him. And that has affected his mind with the mistakes that he has committed. It's not the end of the line and he can always start again, now he should be responsible to pay his debt first before having another a good start.

With investment, we have the opportunity to get big profits, unfortunately many people do not care about this, they prefer to spend money on things that are useless, for example changing mobile phones, buying new cars and so on, if we don't invest immediately then we will regret it .

That is a very sad news. Yes I agree that we need to invest our money wisely. Before investing in crypto currencies do an extensive research, study the chart and think so many times before investing. We should invest only what we can afford to loose. Do not invest all what you have in one investment. Suicidal attempt is not the answer if you had a failed your investment. Think of other ways to be able to recover from loosing. Loosing of investment does not mean it is the end of your life. Think of the people who loves and appreciates you, make them as an inspiration to get back on track. 

Well, I don't like to see this kind of explanation... it's silly to say "in the cryptocurrency market" when the crypto market is really huge. People should be really careful when investing, but some people invest in some obvious scams, and they don't follow the simple rule "Never invest more than you can afford to lose". Especially in risky stuff that promises high (in some cases enormous) returns, and all that in no time.

We can see it as another lesson, and for sure it is for people who are ready to spend some time researching and reading before they get into investing in crypto projects.

Money is a very important thing, so we must always do in-depth analysis when we want to invest, don't be too easy to believe in investments that promise high profits, usually high profits use ponzi schemes so that the investment will become a scam.

Hardly an investment. Sounds like the guy was gambling and lost. Likewise I feel compelled to ridicule the guy for being foolish but the reality is he isn't the only one and he's dealing with enough grief as it is. Lot of people lost money during the crypto bubble in 2021 and they were normal, prudent people, that were captured by FOMO. Grim to think about, but I'm sure that crash led to some suicides with people having torched their savings.

Don't invest at all when you don't have any idea about what you're investing, in this case the young person invested in some crypto scheme but in reality there is no such scheme only possible way is to buy low and sell high so we need to get the custody of assets on our own cause that's the nature of the asset from this we can conclude that he just jumped into trap after hearing the lucrative offer.

Everyone keep remember one thing making money isn't that easy and if it's that much easier someone will be waiting for others to join in their money making career.

I will keep this thread open for few more days. I think it’s for the good lesson and also for those who are new in the crypto world. Mostly everyone is not thinking straight when investing in crypto. The new comers specially wants to be millionaire overnight so they would go and invest any amount they could and it could be from lenders money or family savings. Better yet, plan and execute your trades in the crypto all time.

I think most of the replies agree with the sentiment that’s made. Hope so this teaches everyone a good lesson.

Investment has its certain risk especially if we are placing huge amount of capital. That is why we need to look for potential investments that have high probability of winning despite of the risk it brings. I could sense maybe he was tempted to invest in shitcoins and just immediately invest a lot of funds without making prior researches at first. Obviously the greed is so high for him. Hope this could bring a lesson for everyone to never invest because of greed, invest because you know your investments well. And in case you never know, only invest if you are prepared to lose, as investments not all the time guarantee profits.

This is the outcome if one invest from taking a loan or from using pension funds. As crypto investment takes a lot of risks, how much more if you chose to invest in those shitcoins that are only promising at first but eventually lost their value in the long run. The incident is very unfortunate, but let’s say that he is responsible for his own action. If he only chose bitcoin in the first place, his investment will never end up like this. But I believe his decision also taught him a lesson, and for everyone here who plan to invest for quick profits.

Even bitcoin has risk and its really up to the user on how he can handle his investment since if he go on things unarmed with knowledge for sure the same faith will still happen to him. Much better for those newbie investor is to seek for more reliable information so even if they decide to invest on more risky investment they know how the play the game and earn with it.

But also what's more important is never take a loan just to invest on crypto because it will pile up the stress which you can't possibly handle in long run.

You would really be definitely be ending up on this situation if you do put yourself into a very deep debt just because on what you have done. You cant just be that too confident when you do make out investment and be careless since we are talking a huge money on here specially if you do live on a country where these amounts are really indeed significant. The worst part is that these amounts or money accumulated do came from different person which means that you do added up more problem into one problem because they would really be hunting you down and telling and asking onto their funds which it would be a normal approach.
If ever these money or amounts been invested on Bitcoin itself or some top altcoins in the market then i wont really be seeing this as a huge problem.


Better lock it now, considering it is already that 4 page then its impossible that you arent been able to see or read up on what you do love to hear off.
In overall i  do agree that if you are that someone who doesnt really have much idea about investment then it wouldnt really be costing you too much
time on making up some research first before proceeding so that you would be able to avoid up these possibilities.

I wonder how he took such a big risk at such a young age. He probably invested in various coins other than Bitcoin. Here he invested with debt and probably lost the investment. He was completely disoriented when lenders pressed for loans. Finding no means, he finally took the path of suicide. I think he was advised to invest by other means, he did not invest in his own thoughts.

Finally every person should be careful never to take loan for investment. People should learn from this so that they never make such mistakes. So that he does not push his life towards suicide. Because every person's life has a price, this life must be enjoyed and suicide cannot be chosen so easily.

“Money is a great servant but a bad master.” Francis Bacon. This is a clear example of someone that tried to lord over money, did not knew what he was doing and now money rules over his life.

What he did was incredibly risky, as he asked for the money of other people, asked for loans and even used the pension from his mother, then everything exploded on his face and he found no other solution but to end his life, I am glad he was saved but it is not an exaggeration to say his life is ruined due to his excessive greed.

It's just a sad story that we read here on this topic. So it is really necessary to use our capital correctly here in the crypto business industry. Such a situation will not happen if we only know how to be careful and become critical of what we see here in reality.
So let's not let money control us, instead we should control it so that we don't end up with bad results. Where it supposed to be end with a blessings instead for us.

That is commonly the problem for newbies these days as they invest with high greed, with the intention of making them rich instantly without assessing theirselves if they are knowledgeable enough on the investment and if they’re investing an amount they can afford to lose. As long as it’s crypto, regardless if it’s shitcoins, they will dare to take risks believing that crypto will never disappoint them and will always give them massive profits. Good thing this newbie in the news failed to commit suicide as he was saved quickly by the police officers. But if ever if he had push through it, just imagine what will his mother feels being left alone, and to think that she might be struggling to recover her pension funds which was  gone so quickly.

This will teach him, those around him, and the readers of the novel a valuable lesson: be careful where you invest. The best investment advice is to only invest money that you can afford to lose. It's never a good idea to use someone else's money to make investments for them since the danger is too great. Owning a traditional investment company where your clients must sign profit and risk management papers so that everyone would know their duty if something were to happen to the capital is one place where third-party investment is encouraged.

It's always safer to invest in things we are confident in rather than just some random project or things we are being told at random by influencers or so-called financial experts since if we should suffer any kind of loss, those people will not be held accountable.

Cliché story as we have heard others with the same point but that is the problem already. Question is, why do people still fall on such situation? Could be greed; many people are blinded by instances wherein this industry created an image of easy money. People are desperate to also be rich in an instant to an extent wherein they would take loan in order to invest huge amount with exoectations of huge returns. Unfortunately, just like with any form of investment, there's no such thing. Risk will always be present and no matter how we get tired of hearing the ohrase "invest an amount you can afford losing", that won't work that way simply becaude there are many factors affecting one's decision and actions. As long as there are people wanting to take the elevator over stairs, this would be followed by alike stories.

Instead of thinking the risk first, they are only focusing and thinking about the rewards that they can get. Investing is good especially if we want to have a better lives in the future, but the problem right now is we are only thinking about the reward and we are forgetting the downside of it which is losing our money. There is no sure thing in investment and that is why only few people are making bucks out of it. The most important thing that we have before we put our money is that we should have a good mindset, a mindset that can have as a better expectation.

One of the key to have a good investing career is having a good expectation, there are a lot of people who putting their $20 in some crypto and they are already thinking that they can buy a lambo for it. That kind of expectation is what we should avoid, our rewards will depends on how much money we will put. The more you put in, the more you can sow but take note that you can also incur more losses if you put more so manage your risk very well make sure that you have an organized and detailed planning that can help you to minimize your losses.

This is a very unfortunate incident, and it highlights the risks of investing in the cryptocurrency market without proper knowledge and planning. It is important for individuals to understand that cryptocurrency markets are highly volatile, and investments should be made only after thorough research and analysis.

But it seems more difficult nowadays to find out if an investment is a ponzi scheme or not, because usually these investment schemes use clever ways to deceive their financial reports and some have even worked with government officials and public figures. Things like this make many people fall for fraudulent investments, because they don't have good knowledge to understand how their investment platform works.

Though I feel sorry for the guy since he lost a lot of money, it makes me feel annoyed when the source or the token is not mentioned that he invested in. He lost so much money and the news is circulating but there is no mention of what he invested in except the world cryptocurrency, it is obvious that he was a novice and didn't know much at all.

He had either invested in a HYIP or in an altcoin that might have pumped very hard, made him FOMO and he invested all that he could get so that he can also get some profit from the pump, and then it probably dumped badly. Whatever happened, the mainstream media that is against Bitcoin and cryptocurrencies in general will surely use this news to make a negative image of Bitcoin and cryptocurrencies.

he did not analyze the crypto project that was invested for. I think, 36,600 US Dollars are not small amount, so he should have analyzed every details of the project. Who are the team inside, how the core of business works, it has license / legalization or not, How realistic of the return that was promised. At least those aspects should be analyzed carefully.

Before taking risk in investing we need to be wise, Do some research and study first your target crypto currency. As we all know that high volatility of crypto market anything can happen to our investment. We will be happy we earn bug profit but if we loose it can lead to depression and stress. It is hard to accept if we are going to loose everything in investing that can affect our mental health. That is the reason why other people think of suicidal attempt which is very wrong. Do to avoid that research and study first and do not all your money in one investment.

He was also too greedy to earn profit that this he end up on this but again he haven't thought the risk of his investment thay he go all in. What scary right now after he was saved how he can pay it off all of his loans and his mother's pension for sure he will still commit those things that is why it is better to have someone look after him. I hope he is okay right now and fighting to fix those mistakes

Thank God he was rescued by the cops and thanks to the man who alerted the cops.
The problem here is that he was not given the right update about bitcoin investment and he failed to ask question from those that are into crypto. He should have known that in bitcoin investment you can only invest what you can afford to loose and forget and also it is a higher risk to take a loan to invest in bitcoin.
 If only he knew all these he wont have taken loans or invested much money. This should be a lesson to any newbie who have the intention to loan money or invest their life savings. He actually made it look like bitcoin investment is not worth investing in but it is not. Just that his approach was a wrong approach. Feel so sorry for him and his story should not discourage anyone who understands bitcoin and wish to invest.

This sad story makes me wonder what he did to fuck up his situation so badly. If I had to guess I would say he joined a ponzi scheme, bought some useless shitcoin of a dog or created an account on Binance and tried messing around in the future market with high leverage and not knowing what he was doing.

Because, if you as an investor buy Bitcoin even if it is a big quantity and you simply hold it it is very unlikely you will lose your money so suddenly and would drive you to kill yourself.

That young man got into a market he did not even know what it was, but at least he was saved from taking a permanent step which would have not helped to his temporary problems.

The issue is that. Nobody is aware of the precise cryptocurrency he invested in and that gave him the idea to jump from the bridge. It's possible that he bought bitcoin or another altcoin at a high price and then realized that it had dropped even further than he had anticipated. The fact that he has limited experience with cryptocurrencies alone may lead him to believe otherwise. He may believe that he will be unable to repay the loan and his mother's pension since he invested heavily in cryptocurrencies in the mistaken belief that they will make him rich quickly.

What I believe is that the guy in question lacked a fundamental understanding of cryptocurrency which lead him to invest a sizable sum of $36k in it.

I can relate to the boys' suffering. Not everyone can handle the grief that comes from remembering how badly you invested in the first place.

Experience they said is the best teacher, I believe with what he has seen currently I don't think if he could try that next time because cryptocurrency as they said is very deep and wider so if investing it needs a thorough investigation and with fundamental analysis to be able to cope with the market especially with the volatility levels.
Actually I can't still believe there are people who still involves their selves with a blind investment, how on earth would he invest at the ATH knowing too well that price may suddenly drop.

I have same thoughts since it is unlikely for him to lose a great amount of money in crypto if he had really put an effort to be knowledgeable on what he is investing. I think apart from not having knowledge, the thing he do to get money to invest is not the best option or rather not be an option in the first place. Taking loans and valuable, and even using the pension of your parents will never be a good idea in investing in crypto. Yes, there are a lot of opportunity to earn more profit in crypto but it is still risky and the volatile nature of it makes it hard as well. So, always take the risk that you can afford since it is a basic rule in crypto to invest what only you can afford to lose.

In everything that take risks, at least we should prepare for it, know what it is all about and how to make it work. Just like investing, we should always invest with caution. Otherwise, we will only be wasting our money and time because we end up investing on too good to be true investments. And to stay at safety zone, invest on what you can manage to lose, an amount that won’t be an issue even if you lose them all. Investment has a lot of risks, especially if you don’t know what you are doing from the start.

we all know that it is quite easy to say or advise another person. however, when a person is already so deep with his investments, he will fail to see some warning signs. and with his age, i guess the aggressiveness was there because he was thinking that he will get a very good shot at this market.
as you grow older, you will learn from your mistakes. that is, if you haven't given up with yourself. so the person in the OP's story will learn an expensive mistake of his lifetime. in time, he will understand more about investments.

Investing is a high-risk business. There are no reliable investments. At any moment, any project can go bust. Such is life. And even 100% guarantees can remain guarantees in words. That is why it is possible to study a project for a long time - but in the end go bankrupt.

Regardless if it’s shitcoins or any crypto investment, I think it’s best not to go all in since everything in crypto is unpredictable, you don’t hold your outcome in your investment. If you invest, make sure to make a thorough research first on what coins that have high potentials to make profits, and not just fall on too good to be true altcoins. And once you invest, never take a loan, never use other people’s money, but stick to your own budget in your investment. Start investing with a small amount, so that if you fail in your first attempt, at least your losses will not be an issue to you.

Money is a valuable thing, don't be too easy to believe in promises of investments that provide big profits, remember when we get scammed it will be difficult for us to get the money, it's better to do an accurate analysis before placing our money, always use your own analysis.

I think so too, the investment he made was not in spot bitcoins, but in trading taking huge leverage, and I'm not sure he did it in bitcoins, it still makes me doubt he lost that much.
I think with that big of a risk he knows what he's doing but he can't control himself so lust makes him spend his money, because as good as people are in trading the future if they get out of control then he trades madly which makes him lose.

Here the importance of having limits and targets in making future investments is to maintain psychology and anger when the market doesn't match expectations.

Unfortunately he was not the first and will not be the last person to go this route. On one level it is devastating that anyone would attempt suicide and any help possible should be given to someone in that state of mind. However on a different level, he has effectively gambled his money away and to call it "investing" is misleading. Investing implies that there is some structure and substantial research behind it, but anyone putting money into such altcoins is simply hoping they can find a greater fool to buy into their coin at a much greater price. It revolves around greed. Was there ever a point where he was up after buying in? Was he waiting to double his money but could have taken 10% extra at one point? When is it enough to cash out?

That's too sad and bad , he know what he is doing it is just that he maybe cant control himself to invest an jndlessly that at the end he loses every thing in return. We should learn from this , we all want to have a good life , so we need to put a discipline to every thing that we are working , what happen to him will give us a lesson.

A very unfortunate news indeed. It’s clear that he never made an intensive research before he invested, and might only be convinced from some friends hoping that the coins he put his money will give him double or triple returns. But his money gone so wrong, and worst is he used his mother’s pension which I cannot imagine how his mother felt after she knew it. I just hope he will learned from this experience, and just only invest on an amount he can afford to lose.

Lots of people do really go into the path on getting some suicide which they would be thinking that it would really be the sole solution of all of their problems which it isnt really just that limited on crypto based kind of problem but also into those known ones like depression or having those family problems or even just as simple as failure on things on where they are expecting big something from it. There are people who do have that kind of emotions on which it do really come into uncontrolled manner which it do results into bad decisions which it would be resulting into suicide. This is why on the time that you do really make yourself get
involved with crypto then you shouldnt really consider on taking up some loan or making use of others money when it comes to this investment. You cant really be giving out any
assurance that it would succeed out.

This is why always invest on the money which you can afford to lose and dont invest on something that you cant be able to afford. Using up others funds or taking loans is really that a bad idea.
You should really be that careful and be wise on taking up decisions which you know that it could potentially put you in harm.

There is the belief that if we train hard enough and we prepare ourselves then we can do everything that we want, however while I do agree that this is true for the majority of the cases, at the same time I think there are some people which will never be proficient at some topics, and I think this is the case here, he made so many mistakes, not only on the markets but even outside of them when he tried to take his life, that I believe the best thing he can do is to never invest on any market, as the same scenario could happen again and next time he may not be as lucky.

Finishing his life was probably the best solution for him towards his problems, he didn't care about his family and how much it will hurt them but he thought if he is finished, so are the problems. Most of the time, a defaulted loan is taken back from the relatives or the family of the deceased, so one might think it will finish the issues but it doesn't really.

Now he will need to gather some courage and face the situation being a brave man. I consider those who commit suicide to be cowardly, it's not a brave thing to kill yourself only because you got problems in your life.

Had those 36k would have been spare money, this wouldn't escalate to suicide (tho, there would be regret) — these loans, using pension to invest are exact opposite of, 'only invest what you can afford to lose".

At such a young age, it should be obvious that scams are almost everywhere online, so he probably wanted to double the 36,000$ in a blink of an eye. Someone close to him may have done the same thing, and that may have prompted him to do it.

Today, my school friend came to check on me and asked me to guide him about crypto investments. I am surprised that he knew about crypto scams, he seemed very cautious in comparison to those who wanted to make quick money.

As someone like that, he is unlikely to make any dumb mistakes as long as he is calm enough to learn everything possible about crypto.

Corrections are very vulnerable to occur, especially in recent times. The crypto market, in particular, can be highly volatile and unpredictable, resulting in high profits and heavy losses. The possibility of losing everything can give rise to feelings of depression and stress, let alone logging in and hearing references from unknown sources. I also wonder why people don't take certain things - of course, for example choosing coins/tokens that have been proven and tested for durability, there are still those who try to invest in meme coins.

If there is a business that you like, then you can achieve good success in it, but there are a number of rules that you will have to follow when it comes to money, otherwise the result will always be the same.

If he wanted to become a trader, or an investor, then he should not have done any manipulations with credit money. If he wanted to use his mother’s money, then we can still understand, if his mother allowed him to do this, but with credit money it’s not so simple, because they need to be paid monthly and he should give more than he took.

He is too young, and most likely started a big game without proper experience, excessive haste never led to good results, the result of such stories will almost always be the same.

I think that one can't succeed by only investing what he can afford to lose, the more you put, the more you get. People with low budget can't put more, i.e. can't get more, so at the end of the day, their condition is not hugely affected. And I think that is not the problem here, really, I'm serious. The actual problem is the attitude people have towards crypto and investments. No one thinks about risks, all they think about is their dream about how they will spend their life on yacht with millions of dollars. People think like the guaranteed outcome from investment is tons of money, no one thinks about how so guaranteed is total lose of every single penny. People are really in dream-like state when they make investment, they only wake up when they lose.

Totally, but that person should've seen things coming when he was getting loans to invest, the escalation was pretty big imo, unless there's other external factors besides the crypto losses. Goes to show that we need to be mindful of what we invest and what might be our our potential actions be when things don't go our way.

Do you guide and impart crypto knowledge to him? I have never met such people, most of the people I meet always ask me how to get rich quickly, and they hardly think about the risks when investing. They always ask if the profit is high? How many days will they receive profits?... All those questions make me depressed, do not want to share anything with them. I reject most people who ask such crap questions. It's hard to find someone as careful as your friend, or he researched the market long before coming to ask you, but it also shows that he is a very careful person.

Nowadays there are many investment options, especially now that investment provides convenience because of the presence of smartphones, if in the past we had to come to the office and queue to buy shares then with just a few touches we can buy shares, but we have to be vigilant about the investment we choose, don't it is too easy to believe in investments that promise too large a profit, this is an indication that it will become a scam.

Making investment decisions involves careful research and analysis ideally, you should have a strategy based on your risk profile and not invest more than you can afford to lose. No one will commit suicide if they invest in the right place there are many currencies in crypto that offer good investment opportunities and serve as alternatives. Chances of getting scammed will be less and good profit will be made. Also, if you want an alternative method, you should know about the sites well before buying shares.

Smartphones are just devices, and are not much different from other devices such as PCs and laptops or tablets. In fact, what makes it easy for everyone to invest in this highly advanced era is the presence of internet networks in all corners of the world, which many people can take advantage of by accessing whatever they need. And in terms of scams, I don't think it only happens in the digital or internet world, but in terms of real investment, you can also experience a scam if the company that we invest in becomes bankrupt.

Yes we should invest the amount of money we can afford to lose. That is, the amount of money you invest will be deducted from your total money. I don't see any need to invest so much in the beginning. There is no need to take loans to invest, to sell mother's gold ornaments, to hire with parents' pension money. 
Maybe you say you don't have money to invest so you take a loan Investing by taking a loan can never be a good decision.  As I said earlier, invest the amount you can afford to lose.  There is no question of borrowing in my words. If you don't have money, try to earn money as well as get ideas about investing and when you have enough money to invest, hire on a limited basis.

I think that is true but we need to find a middle ground as well. If you think only about the risks and have no dream then you won't buy, why would you buy something you think that is risky and have no dreamy level of profit potential? But if you only think about the dream and not the risks at all, then you end up like this techie as well.

So you need to be aware of the risks, and aware of the potential profit at the same time, if you can do that then you would be able to actually make a profit from it as well, should be considered a good idea. I personally know the risks and I also end up dealing with whatever it can provide me as well, and that is why I invest what I can afford to lose. If I end up losing it all, I won't be poor, if I make profit, I will be happy. Those are the options for me.

Well, this issue is widespread in a lot of investors specifically the greedy and beginners, they literally take high unnecessary risks for un guaranteed returns, that’s why they end struggling with debts and psychological problems. From my perspective, it is better to find multiple sources of income instead of taking loans , selling some precious goods and hard commodities. In fact, If you want to gain money, simply work hard and be productive, nothing comes easy. In addition to that, it is preferable to educate yourself before beginning in this field. Having only huge capital will not guarantee a large profit, knowledge and experience are necessary.

I agree that you need to find the middle ground for sure. I do look at the villas and so forth around the city I live in. There is one for 128 million dollars, I know I will never be able to buy that ever in my life, and I do not really plan on getting that with a single trade by doing something stupid, no reason to do something like that at all.

However, I do know that I am going to work towards getting richer, so having a goal is important, I know that I would retire if I ever have 100k+ in my bank account because that's enough where I live, and that would be good enough to live until I die without ever needing a single dollar more, not even interest. But in order to reach the top of the tree, aim for the stars, if you fail, you will fall back on the tree.