It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

College Student Commits Suicide After Mounting Cryptocurrency Loses

page: 1
12
<<   2 >>

log in

join
share:

posted on Feb, 6 2018 @ 01:04 AM
link   
Haps Magazine Korea

A 20-year-old college student from Busan committed suicide this week after losing nearly 200 million won in cryptocurrency.


There is no amount of money worth taking your own life. None. Especially not for a young college student. Money, like nearly all things in life, is temporary. It moves constantly, sometimes you have enough, sometimes more than enough, sometimes not enough. There is no amount that is enough to equal the value of your life.

I know that seems like a platitude to some, but money, as temporary as it is, does not deserve the permanence of your death.




posted on Feb, 6 2018 @ 01:08 AM
link   
a reply to: projectvxn
It isn't even clear whether he was really in debt, or whether he simply failed to hold onto the wealth he thought he had achieved.


+7 more 
posted on Feb, 6 2018 @ 01:13 AM
link   

originally posted by: DISRAELI
a reply to: projectvxn
It isn't even clear whether he was really in debt, or whether he simply failed to hold onto the wealth he thought he had achieved.



Reminds me of a Taoist joke with an American twist.

A man goes to Vegas with his wife. Wakes up while she is sleeping and takes his 20 dollars downstairs to gamble. Soon, it's doubled, then tripled, and quadrupled... and so on.

By the end of the night, he's up to five hundred thousand dollars and he bets it all.

He loses it on one bet. ALL of it. ALL HALF-MILLION DOLLARS.

He gets back to the hotel room and his wife says "how was your night, honey?"

He replies "Meh... lost 20 bucks."



posted on Feb, 6 2018 @ 01:23 AM
link   
a reply to: Abysha

Yep. You haven't made a penny until you cash out.



posted on Feb, 6 2018 @ 01:36 AM
link   
A penny (or 20 billion) is worthless before buying anything.



posted on Feb, 6 2018 @ 01:38 AM
link   
I bet there are untold people that lost a sh#t load the last few months when the stories where coming out about Bitcoin etc,

My grandfather always said "the moment that the taxi drivers are giving you tips it is time to get out", this was right around the time when people started to come in!!!!..

I would like some info on his back story, why did he not simply cash out as the market started to loose traction???...


RIP Buddy....




RA
edit on 6-2-2018 by slider1982 because: (no reason given)



posted on Feb, 6 2018 @ 01:39 AM
link   

originally posted by: enlightenedservant
a reply to: Abysha

Yep. You haven't made a penny until you cash out.


But it's equally important to remember that you can't lose what you don't put in.



posted on Feb, 6 2018 @ 01:49 AM
link   
He is gonna be really pissed if it goes back up.



posted on Feb, 6 2018 @ 01:54 AM
link   
Very sad. He's a victim of speculation and greed. Some will have made piles of cash, others (like him) will have been ruined. In the case of those who push the cryptocurrencies into the frenzy of speculation, they are probably quite happy and immune to the human suffering left behind. They can suffer the loss, but mostly will have benefited.



posted on Feb, 6 2018 @ 01:58 AM
link   

originally posted by: paraphi
Very sad. He's a victim of speculation and greed. Some will have made piles of cash, others (like him) will have been ruined. In the case of those who push the cryptocurrencies into the frenzy of speculation, they are probably quite happy and immune to the human suffering left behind. They can suffer the loss, but mostly will have benefited.



Sorry not buying that angle, no one has a gun to their head, I am very very risk adverse so will not go near any investment that is not a safe bet hence property is my interest..

If you play the crypto game and loose you only have yourself to blame, personally the moment my stack was in the life changing range of just a few million i wiuld have cashed out and got the money into rental holdings to see me through to the end of times..

If you are greedy and want to make every last cent and it goes pop who is to blame????....



RA



posted on Feb, 6 2018 @ 01:59 AM
link   
As China started to block Cryptocoin-URLs, the drop is emminent and in my opinion not recoverable. Source

A massaker

On the other hand, most Cryptocoins are unbreakable by bubbles, so they might rise again. MONEYZZ$$$



posted on Feb, 6 2018 @ 02:02 AM
link   
Well I've lost a lot, especially in the past two days with Ethereum crashing. But I didn't expect to use the money ever, anyway.



posted on Feb, 6 2018 @ 02:02 AM
link   
IDK if this is because he "lost the money" and he felt that that was his one and only/last chance in life (some people think they only get XXX chances) or if it was because money is sooo important to him that after not having what he had, he felt like he was nothing. Unfortunately I think a lot of people can relate to that and may have similar thoughts (& possibly actions) had this happened to them and I think it is because of the way our society is structured. I wonder if someone in a country that practices true socialism would act this way.



posted on Feb, 6 2018 @ 02:03 AM
link   
a reply to: Abysha

Yep. Only invest/gamble what you're willing to lose. I look at every business opportunity like that. (Although that can also explain why I'm not rich lol.)



posted on Feb, 6 2018 @ 02:21 AM
link   
a reply to: DISRAELI

I don't know.

All I know is a family is missing their 20-year-old college student tonight.

To be honest with you, I didn't really pick apart the information in the article. I read it, and my first thought was to bring attention to this because I know people here and elsewhere in cyberspace that are probably taking enormous losses. Some are even insanely in debt over malinvestment. They rode a high and it all came crashing down around their ears. Quite frankly, I have no idea how that feels. I've never had a lot of money to lose in the first place, nor do I use credit cards to buy into markets. I'm a very careful investor when it comes to how much money I'm willing to invest.

But not a lot of people have experience investing. Those highs can turn into very scary and depressing times in one's life. It can be absolutely soul-crushing to watch ones savings disappear. But I don't wanna see people killing themselves over it.

Isn't it enough that many in this world work until they die in return for money? There is no sense in conceding one's life to money.



posted on Feb, 6 2018 @ 02:43 AM
link   

originally posted by: projectvxn
Haps Magazine Korea

A 20-year-old college student from Busan committed suicide this week after losing nearly 200 million won in cryptocurrency.


There is no amount of money worth taking your own life..


This is pretty common.

In the 1987 Crash there were brokers jumping out of windows.

In 2009 German billionaire Adolf Merckle committed suicide by jumping in front a train, after losing billions in a financial crisis. He had something like $9 Billion USD before the crisis, and lost a whopping $8.5 Billion USD, and was "ONLY" left with a mere $500 Million. So, he decided to quit life. If it was me, I'd take that $500 Million, buy a small cottage somewhere, get a TV set, and sit and watch the shows. I think $500 million is still alot of money, you can live on that quite well. However, pride, and being accustomed to living a certain lifestyle, affects the mind.

Ruined after Betting on Volkswagen Stock, German Billionaire Commits Suicide

Each individual is different.

Poor people never commit suicide, because they never knew what it was to ever have money.

So, once you hit it big, and start dreaming of all that wealth, the let down of the loss is tremendous.

Some people can't handle the "change."

So, it's not about losing money, it's about "change" in your "dreams" and "expectations" of life.



posted on Feb, 6 2018 @ 03:22 AM
link   
a reply to: Abysha

I thought the joke was gonna be that he walks out with the $500k and then asks her to marry him.



posted on Feb, 6 2018 @ 03:26 AM
link   

originally posted by: AMPTAH

originally posted by: projectvxn
Haps Magazine Korea

A 20-year-old college student from Busan committed suicide this week after losing nearly 200 million won in cryptocurrency.


There is no amount of money worth taking your own life..


This is pretty common.

In the 1987 Crash there were brokers jumping out of windows.

In 2009 German billionaire Adolf Merckle committed suicide by jumping in front a train, after losing billions in a financial crisis. He had something like $9 Billion USD before the crisis, and lost a whopping $8.5 Billion USD, and was "ONLY" left with a mere $500 Million. So, he decided to quit life. If it was me, I'd take that $500 Million, buy a small cottage somewhere, get a TV set, and sit and watch the shows. I think $500 million is still alot of money, you can live on that quite well. However, pride, and being accustomed to living a certain lifestyle, affects the mind.

Ruined after Betting on Volkswagen Stock, German Billionaire Commits Suicide

Each individual is different.

Poor people never commit suicide, because they never knew what it was to ever have money.

So, once you hit it big, and start dreaming of all that wealth, the let down of the loss is tremendous.

Some people can't handle the "change."

So, it's not about losing money, it's about "change" in your "dreams" and "expectations" of life.








Damn man, that was on the money (pun intended)

On topic... There is a reason loyds bank stopped people using credit to buy crytpo. 😬



posted on Feb, 6 2018 @ 03:43 AM
link   
Common endgame for many a gambler.




posted on Feb, 6 2018 @ 07:38 AM
link   
a reply to: projectvxn

Not as smart as he thought evidently,never know could of been his first success and as young do today can't take failure,my brother used to work in vice and like he said,if it sounds too good to be true then it is,seems people never look at the long term aspects,can't blame anyone but him,he made all the decisions,some of richest people have been broke more then once,but... perseverance is something you have to build within oneself,things don't appear like on TV



new topics

top topics



 
12
<<   2 >>

log in

join