So memes are now causing people to kill themselves?
This morning, I saw on Twitter that a guy shot himself in the head while livestreaming because he had lost his last $500 to a meme rugpull. First, I did not understand what "...his last 500$" meant.
Perhaps this was not his first time being rugpulled; perhaps it happened several times before, and the $500 was the final straw. Because I can not believe someone would kill themselves over a $500 loss in meme.
They probably have had to lose their life savings, maybe lost something bigger and all that. I saw the video, and this guy did not appear to be broke, and I am sure $500 is not enough to break a person; there had to be more.
People rarely give up in the first attempt
........So this is not relatable
My guess is that he would been involved in memes for a long time and had consistently lost money. Perhaps he was in a space where people were constantly tweeting things like "I went in with $5,000 and came out with a million dollars", and he fell for the bait.
Maybe he had bet heavily on the wrong project and thought he would changed his life in a flash, only to run into criminals coins masterminded by the devils. There's probably a lot to this story.
Why? Suicidal tendencies tend to accumulate.
Depression caused by monetary losses tends to accumulate, most people likely lose it when all their moves are finished. Why? I believe we have the audacity to continue; one-time losses are recoverable, at least in most cases.
Financial suicidal ideation is always triggered by a loss that we can no longer accept.
A person in a second or first-world country would not be concerned about a $500 loss, but it is possible that the manner in which it was lost contributed to this outcome.
I would not say this guy gambled with his life because I do not understand why a perfectly healthy person would undervalue the gift of life and then abuse it by livestreaming themselves.
Then we move on to mental health issues. I am not a therapist, so I would not know his medical history or background, and thus I do not have anything solid to say about this.
So let us address the elephant in the room.
Memes & Rug Pulls
Unfortunately memes are becoming that aspect of crypto that seems to threatens to be the end of us all. On the surface it looks like memes shouldn't exist.
I mean, we want to throw it in the trash so hard that its toxicity does not endanger the future of crypt. But guess who makes them? Us! Who does buy them? Us!
It is easier to stand here and blame the game's creators when we chose to participate.
Cancer cells thrive when we feed them glucose.
Cancer cells are memes, and glucose represents the money we choose to pour into them. This is very simple. Unless you are new, you should be familiar with the game. 80% of memes are ticking time bombs, and the majority of creators are criminals.
They pump in massive liquidity, the token does a x10,000 the pull liquidity and leave with x300k the money and you're left in your loss. I mean, the system is so simple to understand.
Avoid mess, particularly those created in 2024/2025.
even it is CZ that created it. But no! We are inherently greedy; nearly all humans are. However, the difference between rugpullers and the general population is the ability to control one's greed and recognize that it is not as simple as it may appear.
To be honest, it is easy to thrive in crypto. If we're all lumps of robots with no feelings, just logic, research and common sense, then everyone will be rich.
Memes are the cancer of cryptocurrency, but it is here to stay because we created it, and the playbook will continue. However it's just difficult to educate people that crypto requires a lot of due diligence, process and time.
Memes are shortcuts; we all agree that there must be short cuts for everything, but what you have to give in exchange for these shortcuts is rarely discussed.
Again: Meme coin is cancer.
I mean, you have the opportunity to explore crypto, which has wonderful ecosystems and projects, and I agree that it can take a long time to make money, but would not it be better than dying and live streaming your final moments?
Of course, die-hard degens want to get rich or die trying, but they forget that the people who coined these cliches are still alive. Above all, it is heartbreaking to see a human being go like this. I know that memes might be taking the fall for this, but then how about the ones we don't get to see everyday on Livestreams?
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Only a fool would bet their last $500 on a meme coin, you have better odds with a roulette wheel. And those aren't very good either! This guy probably had been on a losing streak for some time and may have been a compulsive gambler, who knows? He surely had depression issues far before the suicide.
Meme coins can make you money, but only if you are in early. 99% of the time you lose otherwise, but we understand that, guys like that don't seem to understand them at all. Once in the last run I thought about creating a token as well, but all the coders heavily into the industry told me "it's a 90 day play", after that it will crash unavoidably. I didn't didn't actually do it in the end mostly because the up front cost was just too much, and then I would have probably felt bad for all those who lost all of their money too.
If you don't want to risk losing all of your money, cryptocurrency isn't your playground in my opinion. You can make money in the big ones like BTC, but you can lose ten percent on a bad or more.
Yes, I want to agree that he's been on a losing streak and he probably lost the remaining 500$ from a massive rugpull. Places like Twitter are the culprit. You hardly pass without someone showing you their wallet where they have $500k made my memes. I think people get pulled into these games. I mean, what a way to make a fortune overnight without actively being involved.
Quick money schemes are what memes are and I honestly agree that nothing could be worse than memes no matter how bad they actually are.
Can you imagine that. I some people will actually go for it, pay a few influencers, hype the coins and it'll crash. It later becomes a dead token used to cheat people of money.
I agree with BTC. However I think all utility project coins are profitable when you time the market. The problem is memes coming in to dilute the market
If he was actually staying in a page where these things are being twitted, he must've been full with greed and the motivation to invest more, but as it didn't turn out the way he wanted, he couldn't stand the loss.
Committing suicide because of a $500 loss is just crazy..
I think there's more to the story, because one $500 loss shouldn't be enough for a person to suicide. He was probably a degen, or something deeper has happened with him. Crypto is a emotional place to be, sometimes we do drastic things in real life
I read about it but only after reading your post really understood what the guy did... Sort of, because we only know the surface of everything most likely. But gambling can bring someone with control issues in such tragic situations. And meme coins are nothing but the expression of pure gambling. Sad to hear it has come to this... It will likely not be the last, unfortunately, if we know a thing or two about gambling addiction.
I saw a few comments about people saying stuffs about it on Twitter, and honestly I didn't feel good about it. Just as you've said there's more to the story but I want to believe his meme going gambling expeditions too the fall for what truly went wrong. Unfortunately we cannot know everything now.
It'll not be the end like you've said, sadly, many aren't going to learn anything.
@tipu curate
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All those memecoins are ruining people. It's like gambling and I think a lot of people are gambling with money they can't afford to lose. However, $500 is kind of a crazy amount to suicide over. I feel that the person could make that back
It's gambling honestly and people are failing to realize that. I mean how on earth does a degen thinks they'll become rich overnight when people in the space for more than 5 years aren't even rich yet.
Such kind of losses hardly ever justify taking one's life. I just hope this unfortunate episode serves as a wake up call for people chasing quick riches from meme trading to come back down to reality and realize there's more to life than being a degen.
I think many on Twitter are seeing it as a funny thing, and this is why they'll not learn from it. I think 80% of memers are probably not going to learn anything from it.
That's probably true. There mostly indirectly affected with such situations, and later shove it away as it had never happened.
What a sad news bro.
I guess it's not just the $500 dollars he lost that might have probably been the cause of his actions because that was a very quick action.
Yes, there might be a lot more than just the 500 lost. Personally, I think he might have probably incurred some chronic losses
It's so sad that he had to take his own life for $500, and the sad part is some people won't still learn from his story, a lot of people will still make the same mistake he has made.
Well, he's not the first to lose money. Meme coins is the game and many more will lose.
Sad news but meme coins shouldn't be touched by anyone, just go to a casino, you'll at least have an evening to enjoy
People touch them because they want their lives to change overnight.
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