A must read for all beginners

[Japinat]

For some who have sound financial health, $670 is not that much, but for others who are looking forward to make a decent profits from their last money, losing this amount could eventually lead them to end their life.

There is no wrong in investing, but always invest that won't compromised your finances, or just invest a small amount first especially if you are still a beginner in bitcoin or any other highly volatile investments.

Invest only what you can afford to lose. Investing is also like gambling, there is no guaranteed positive outcome no matter how you try your best to make the most of profits.

[CryptopreneurBrainboss]

Understand that the risk of losing money still stands because this market is very volatile too, even the most reliable investment in my book which is Bitcoin, I still can't advise anyone to use all the money they have.

The first and most important rule of investing is never to bite more than you can chew (that's not to invest money that you can't let go of if you lose it), people are too quick to make decisions on investment that they later regret because they lack the fundamental knowledge on investing and that is why not everyone turns out to be a good investor. You and somebody can invest in something but it favours you more than the other because they lack the attributes of an investor which is rare. In no condition should you invest an amount that it will lead to you committing suicide, you shouldn't invest others money or if you are willing to take such risks then you should be ready to accept responsibilities when the time is right. Investing isn't that hard but you must learn how to play by the rules or you get taught a big lesson that you might never forget.

[Vaculin]

I can't believe that anyone would decide to end their life because they lost $600. Someone might be upset about losing that amount, but not to that extent. Therefore, it's best to stay away from any investment altogether if you're going to be affected in this way by investing.

Maybe he was already in a very low situation before this happens, so you can't expect for him to stay firm despite of these negative circumstances.

This is why I don't suggest people to invest even in bitcoin because I don't know if they would be flexible enough in managing the negative outcomes. While some have this high risk-tolerance, most of the new investors are still starting to learn about risk management, and some of them may even refuse to learn because they also have their own views and perspectives when it comes to managing risk.

[bhadz]

That is why hype is dangerous and it can put a lot of stress in our lives. Don't buy those altcoins who have been endorsed mostly on socials or x because they're going to make you as their exit liquidity. Many newbies still don't realize that they're just fooled and play around by these influencers when there's a pump that happens. Don't believe with the posts they show you because that's the point why they're showing it to you, to make you interested with what they have bought and help increase the volume so as the price so they can exit and sell.

[LogitechMouse]

Be careful how you choose to invest in cryptocurrencies, do not end up in a situation whereby taking your own life will be the only option you have left, successful millionaires around the world advise people to invest 1 or 2 % on any investments for this reason.
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If you know that losing all you have can make you take your life, then you are not fit to invest yet,  you need a source of income first, then when that money comes make sure you invest only what you can afford to lose.

Understand that the risk of losing money still stands because this market is very volatile too, even the most reliable investment in my book which is Bitcoin, I still can't advise anyone to use all the money they have.

Do not end up like this man 👆🏻👆🏻👆🏻👆🏻

Am I too hard enough when it comes to things like this. I mean I want to feel a bit of empathy towards the one who made the tweet... but I can't feel anything. Maybe it's because there's a chance that this is just a made-up story just to gain... sympathy I guess? We are in the internet where anybody can just make up stories, right?

Anyway let's just assume that this is true, then it's quite unfortunate for both couple to end up like this. Losing $670 might be small for some, but assuming that they're living on a developing country, this is already huge for them. This is the reason why many including me are saying that "Invest what you can afford to lose." Don't invest your life savings, don't invest your retirement fund, don't borrow just to have money to invest, don't do stupid things just to invest. Only invest your spare money. I get it that not all can do that, but I believe that people here in the forum are more intelligent thus, I believe that they'll not be doing a thing like this. Right?

Overall, if this is true then it just shows how cruel the crypto space is. Always think of our decisions because one wrong decision could change our life entirely.

[shinratensei_]

I can't believe that anyone would decide to end their life because they lost $600. Someone might be upset about losing that amount, but not to that extent. Therefore, it's best to stay away from any investment altogether if you're going to be affected in this way by investing.

The person could be from a third world country that have a very low economic power. In countries like that there are some people that will also be poor or not above an average person, $670 can be a very large amount of money for such a person. I have seen people that it took almost a year or more than a year before seeing an amount of money in their life after hard work. But you also got a point because I do not think a person like that will be subscribing on X to have a blue tick.

Maybe he has gone through so many devastating event and the $600 being stolen was the last straw.
This is a lesson for many of us to never put ourselves into a corner and it's not the first time people are pushed into the corner until harming themselves is the only way they can think of.

The trench is merciless and everybody is fighting each other, it's like a pvp. Even if we stubbornly keep speculating on the market, make sure we will never clear our bank ever and limit what we can spend.

[maydna]

Hey I heard about this ansem token or coins or meme in Telegram chat with my group. I can't imagine if people spend much money to invests without research.

Investing in crypto is very risky so they must research and not just follow other suggestion. They need to responsible to their funds and just invests using the money they can afford.

But unfortunately, greed making them spends much while they dreaming of making much money after some short time. Before you start investing, you must allocating money you can and that is after you allocating to your daily needs.