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

[xSkylarx]

It's unfortunate to hear about this young techie's situation and the drastic step he was about to take. Investing in cryptocurrency can be risky, and it's important to exercise caution and do thorough research before investing any significant amount of money.

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

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[mvdheuvel1983]

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.

[Hispo]

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.

[JoyMarsha]

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 😭.

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.

[Cryptomiles1]

snip

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.

[Twentyonepaylots]

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.

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.

[Botnake]

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.

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.

[AmoreJaz]

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.

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.

[Unbunplease]

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.

[Distinctin]

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.

[Paul Pogba]

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.

[Fesatmas]

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.

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.

[Fortify]

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.

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?

[molsewid]

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.

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.

[Kasabus]

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.

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.

[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.

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?

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.

[South Park]

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.

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.

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.

[savetheFORUM]

It's unfortunate to hear about this young techie's situation and the drastic step he was about to take. Investing in cryptocurrency can be risky, and it's important to exercise caution and do thorough research before investing any significant amount of money.

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

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.

[libert19]

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".

[Z390]

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.