Bitcoin Forum

This stuff is getting way at of hand , there are too many rug pulling now and days especially in solana meme coin, that’s why kept telling folks to stay away from meme coin trading, especially if you know that you can’t handle losses , the painful truth is that there still project at there that are getting ready to rug some folks of their funds .
This space is not a friendly place you can make money from it you can also lose from it .there might be other reasons added why he took his life but still memes trading not advisable at all, and please be safe at there.

The link to access the post : https://x.com/waverchocs/status/1893308084136620295?t=fH9jbo68QoRY6VWAP7SzGA&s=19

Imo, he was wrong to take his own life but at the end of the day, he chose to take the high risk <> high reward route rather than buy majors and profit slowly. Memecoins are actually a cancer to crypto and I've said ut multiple times but they only became prevalent when VC backed tokens became predatory.

I don't know if it's the same story but someone died recently from memecoin involvement and people later create a token in his name and it ran to several millions.

People that are investing their money in crypto should know that crypto is very volatile and risky. If people want to invest in bitcoin, altcoins, and shitcoins, they should always use the money they can afford to lose so that when their investment goes sideways, they wouldn't have to take their lives just like the man who lost his last $500 on a memecoin investment took his life. A lot of folks don't care how people feel when an altcoin or memecoin gets rug-pulled; they are only concerned about how they can milk people's hard-earned money with an overhyped altcoin or memecoin. People should tread with caution if they are investing their money into altcoins or shitcoins because there's no guarantee they will succeed or be in profit in altcoin or shitcoin investments.

Na wa people dey take risk o. The link nor dey open abi the OP don delete am? I for like read the story in full make I know how much he invest wey make am kpai himself. Omoh nor invest wetin you nor go fit lose for this crypto game if not oyo na your case. This man don kpai, people wey sell early don dey buy yatch.

 See the link to the thread wey Op drop; https://www.google.com/amp/s/www.livemint.com/news/trends/crypto-trader-last-post-before-kill-self-suicide-livestream-viral-crash-out-throw-your-life-away-ask-if-really-matters/amp-11740384635684.html...

I read the story and e dey quite pathetic how people go just take their lives after putting all their funds into a coin wey no get head. According to the story, the user, identified by his X username @MistafuccYou after him use him last $500 play Russian roulette. The man kpai himself but him also drop advice o and I quote "before you crash out and throw your life away, ask yourself if it really matters". Sad part be say him no really listen to him own advice.
 Some people dey see these crypto currencies as a gateway out of poverty and go take the kind of risk wey go dey harmful to them.
 

Very sad to see that guy shoot em self as cos of shege way meme coins don show am but em no try by killing em self and as em say make dem make am meme coin if em die, na em go return em lost? Very pitiful commitment of da guy.
For X platform Dem never too confirm am say na meme coin cause em death shaa rather the news concerning meme coins dey fly because em mentioned meme coin.
Investing on gambling na pure gambling because anything fit happen. Solana coins of a tin self tire me oh,  indeed na really meme as mimicking coin. Imagine how sudden newly Coins just evaporates after the suicide commitment following the guys request.

This man no really act wisely, him lose hope on himself to make another money. Him forget say na him still make the money wey him take gamble the roulette and say if him still dey alive say him go make the money back. E no easy make person kill himself and anybody wey kill himself no dey worthy of living because him fit kill another person. That means we dey get one serial killer executed and the world or someone wey fit dey unfortunate with the man's trigger don survive. Thus, who knows who he would have killed if he was still alive.

Hence, the advise has always been gamble as you fit sustain the risk. No go dey trade because trade fit carry all your money waka as we see for the dead man case. Trading dey different from hodling, make we still dey learn.

I came across this news on X a few days ago and I must say it is quite a sad one for him to have taken his life with his own hands. From the looks, it was like him joking or pulling a stunt but he did commit suicide and a life lost. This is why many are advised to not invest with cash they cannot afford to lose and also to do good research on the coin they want to invest in before they invest so that if anything happens, they would not get too worried because they have financial backup to sustain themselves.

Memecoins are not what one should just dabble into because of the hype involved in the influencers and celebrities they have seen supporting the memes or for the fear of them missing out, proper research be done to know what is obtainable and also the reason behind the meme coin coming to existence. There are lots of other coins or tokens to invest in and if he had done that, he could have made a little profit or better have his investment intact.

Strong projects Dey wey preppie suppose put money, dem no go put, I don’t know Wetin Dey do some people wey be say na meme coins dem go Dey look for up and down, if dem come lose money, Dey go come Dey disturb for social media. Most of the meme coins na scammers get them, there own no pass make dem just make money. Bitcoin Dey, and other strong altcoins Dey, but people Dey ignore those ones, na how dem go take make quick money na him dem Dey look for, some go wan make 1,000 naira make like 5 million, na y na meme coins na him there eye Dey always go.

It is  very simple to understand that even In the quest for wealth and riches or living in affluence we should clear away from high risk attachment if not we will end up losing our life that we intentionally want to make better.
Some people claims it is their own money and they can do whatever they like while their actions will directly be affecting those around them,  that's so cruel.

Commiting suicide after losing all your funds while trading  meme coins is the worst action any individual could take, because In most cases, it's likely maybe that amount he traded and lost might not have been his personal money but a borrowed fund, which he risked trading with the intention of multiplying capital, but unfortunately it ended up in lost, which is also a sign to show that this individual never had proper knowledge about trading before venturing into it, most especially crypto and meme coins that are most volatile. Because as a newbie, it's advisable they invest in Bitcoin and hold for long term, rather than risking funds in meme coins.

You are right, the possibility of him borrowing such money is high or it might be that money is the last money he had on him and maybe he was moved by the hype he saw online which in reality is not exactly what it is. If he had sought counsel or possibly had done his research, he would not have made such a silly mistake of borrowing to invest or investing all he had in a meme coin. Meme coins are not worth the risk such as this guy did, maybe he did not know how the system works and his ignorance caused him all this mess of taking his life by his hands.


This should serve as a lesson to those who hurriedly jump into investing in meme coins they just heard about without taking time to conduct their due diligence before proceeding with it. It is not bad to take risks but the truth is that it is not all risks that are worth the try, some risks are just stupid risks to take and some just require wisdom to go with but people still fail to understand this, and they get themselves stuck up in their carelessness calling it a daring risk to face.



 

Em d fortunate sae up till this moment people never see crypto as a means not to make quick money. Em d weak my heart sae, people are still venturing into crypto investment with the wrong mindset of making money quick out of it. And upon that they are investing in memecoins wey no get base for crypto space instead of hype wey go lead to pump and dump.

Anyway, as the dude don kpai em self no be em family go d cry about the em matter of killing himself untimely, living family members behind with the memory of their uncle kills himself because of crypto trading. What a pity

The man must have put all his life savings and investment into it, hoping that he will get his money back in a bigger fold, when the price increases , but no, taking his life has put his family into more problem,now who will fend for his family. Losing your money is the the end of world, this should be a lesson for a lot of persons out there,if you cannot withstand the pressure from any cryptocurrency in terms of investment crashing,it's better for you not to involved, look for the business that can by comfortable for you, crypto investment is for the strong..

Many people dey feel say these crypto currencies nah easy access to make wealth and no understand say just as gain dey dey the thing, losses too follow. This man wey take him life so put all him eggs in one basket and when e no turn out the way him plan, him choose to end the life like say if this money go another no go come out.
 Some people go easily write themselves off like say nothing good fit come out from them and say them dey the world a favor if them no dey in it but that nah selfish and close minded thinking.
Them say the best advice nah the one you sidan give yourself but what if after you do am you no fit make use of am, like the man case? Moral of the story though na sad one nah say no gamble with wetin you no fit afford to lose.

Quite disappointing.
The crypto space has both the good and bad, so cases of rug  pulling is very common and will continue to increase. And these rug pull scams are very easy to carry out, considering the fact that the crypto space doesn't check mate most of these projects.
I even watched a short documentary recently, where some rug pull scammers where interviewed, though they where putting on masks. According to them, they don't even feel sorry for their own actions. While those who are hunting for meme coin ends up becoming victims of failed project.

Here is the link to their video
https://x.com/marjidofficial/status/1893976471065997823?t=rXdglG9K60hNVauFdhgg5A&s=19

After all the struggles to invest in the memecoin he still took his life. May his soul rest in peace. If i am a member of his family i wont cry or care to do a funeral for him. To be honest.

He is one of those folks who will rather die than live to start paying debt or be completely broke knowing he throw away his money to nothing due to ignorance. I know how far people go to take money in investing in coins because of instant promised profits.

The truth is that, you are not expected to put in so much money into altcoins/shitcoins  is butcoin not enough. One of the reason most person still fall for these kind of scams is because of greed and ignorance.  How can you not make proper research and know the do or don't in cryptocurrency before entering or how can you be so blinded by greed that you forget the risks attached to spending literally all your money purchasing a shitcoins. Meme coin are projects that are inspired by jokes. So anyone can get up one day and make up his mind that he wants to make a meme coin, because of that it should be taken seriously, though the volatility make the coin a bit more faster to profit from. But this is where your knowledge should play the importance role as the decision making body rather than you emotions and greed.

Anybodi wey kpai himself onto crypto investment gone wrong na ediot, simple and short. Na dis same people go plaster screenshots of cashout on social media if to sey d thing favour dem. Dem go make am look like sey those of us wey dey go slow and steady na mumu. Memes na high tension risk like high tension electricity wires. Anybody wey nor stand well nor supposed put bodi there. Anoda thing be sey make people dey reason dat caveat – nor invest d amount of cash wey go disturb ur blood pressure if you lose am.

E for make sense say na bitcoin e invest into self rather e choose meme coin may e go don get wrong information way concern online investment or all this ponzi scheme he might borrowed to invest the thing come go down but commiting sucide shouldn't have to be his option na there way e fuck up, e good make we just invest for bitcoin as you talk bitcoin na e be the best coin to put money inside, sometimes too some persons fit think say na bitcoin them dey invest to not knowing it is meme coin due to lack of proper information or knowledge.

The best way to go about memecoins is by trading it and not holding so anyone who is not ready and can not afford to loss money should not even think of playing with memecoins because it is very risky whether trading or investing and the risky part of it is to invest in it. Even as  folks are making loss and killing themselves, there are also people who are making a reasonable amount of money from it and one of the thing that makes people... Is greed, instead of them to use what they can afford to lose they will go an use what they can not afford to loss and some people sometimes went to borrow to trade, for something wey them know say e no dey certain.

Well, he's at fault to go after such a high risky venture because with memecoins, you either make it or you don't. I know how tough it can be to start from scratch and he probably thought that he won't be able to do it and ended it short.

For me, I believe everything is possible as long as one shows up everyday and try to be better. He might have put himself on a better path after the loss if he had found a job and take it slowly from there to rebuild himself but he didn't.

I don't know why people keep doing this, even after series of warnings that you don't go all in into meme coins or any coin that doesn't have a history. Even with bitcoins, you are being advised to use DCA method, so you get to trust the coin over time. Yet, people don't listen.

Don't invest more than you can lose. Don't use your last money or your survival money to invest. Let it be spare money if you just want to try out the coin. But for some reason, we keep making the same mistakes, and lives have been lost because of coins.

And yes, all the hype you see around these meme coins and shit coins are just influencers who are being paid, and they are doing their job, that's it. What do you expect an influencer who is being paid to hype to do if not hype.

It's really sad. Let's start taking our own advice more seriously than just dishing it out. It seems most of us just drop advice in threads, but we don't take it.

Well, am very certain that this person who committed suicide lost a lot of funds. The funds am sure isn't his or it was meant for other purposes but he somehow believed that this particular meme coins would make him cash out big time only to be rug pulled and left dry to hang.
 
The truth is that no cryptocurrency is even absolute, but we trust Bitcoin more because it has withstood alot of test and upheavels and has both made history with the precision of its mathematical calculations and the excellence of delivery.
 Bitcoin made the ancient DCA strategy once again popular and am sure it is superior in this region above other altcoins and meme coins when it comes to investment for both long term and short term returns.

The worst thing that could happen to anyone is losing a huge fund, getting involved with cryptocurrency requires a lot of emotional intelligence to be able to make informed decisions in term of losses. There are a lot of wolves in sheep's clothing waiting to take advantage of unsuspecting traders and we all must be careful out there. It's quite unfortunate that he had to take his own life which obviously wasn't the best way to handle the loss. Crypto is definitely not for people who can't handle losses, it's just very devastating to hear that someone lost their hard earned money and losing their lives too. People should stop putting all of their funds in meme coins or any other shit coins, even in Bitcoin that has been recognized all over the world we still use safe strategy to invest, talk more of other coins that has no meaningful history.

In as much as we are aware that this things can happen to anybody, am of the opinion that people should stop taking this kind of risk that may lead them to unbearable loss, for such individual to consider taking his own life, it means he took a risk that is beyond what he can bear, why didn't he consider investing in bitcoin that has more trust than taking such uncalculated risk, I think may be doesn't have a good knowledge of bitcoin or he was chasing quick money may be thats the reason why he became a victim of such but there's no justification for anyone to take his or her own life just because they lost some amount of money that he or she may even get back in the future that's too bad, as a person that has interest or person that's already in the crypto industry, you must be very observant or careful to know when dubious elements want to strike, this is the reason why it is not even in any way advisable for anyone to invest in any other coin apart from bitcoin, am so pained about this kind of ugly event but it should also serve as a lesson to many people in the crypto industry.

I don read about this matter when e happen, i no know say we been get topic about am for this local board. This na why dem dey always tell us say make we dey invest money wey we fit afford to lose, particularly when na altcoins wey you dey invest in, who no know how risky memecoins dey, you suppose know say you fit dey scammed if you dey buy memecoins, so i wonder why this person had to do this.

That said, no matter how much wey you lose, e no make sense to shoot yourself, as far life dey, you fit make more money again.