Invest your money wisely - another lesson, Techie tries to suicide.

[Pejoh Asu]

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.

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[Gyfts]

...

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.

[jrrsparkles]

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.

[Flexystar]

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.

[Viscore]

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.

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.

[Russlenat]

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.

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.

[ultrloa]

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.

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.

[Mahanton]

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  ..

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.

I will keep this thread open for few more days. I think it’s for the hood 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.

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.

[Rigon]

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  ..

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.

[wxa7115]

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.

[benalexis12]

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.

[Sanitough]

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.


 

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.

[cydrix]

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.

[Yatsan]

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  ..

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.

[DevilSlayer]

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  ..

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.

[naikturun]

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.

[retreat]

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.

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.

[tbterryboy]

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.

[loopes]

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.
-snip-

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.

[nesty]

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.