Cryptocurrencies suddenly attracted attention as they gained large sums in a short time, but there is also the “dark side of the Moon”, although it is not mentioned much.
Cryptocurrency, which became known for the first time in 2009 with Bitcoin, became one of the most talked about topics in the media and social media, as it quickly enriched someone. As it is not connected to a center and transfers are not under the control of an authority. charm increased even more.
When it gets so popular, people get rich quick He turned to crypto for the masses, but most of them did not have enough knowledge about it, and this caused some people to lose all their savings.
Here it would be appropriate to mention the term FOMO:
The meaning of this term, which stands for “fear of missing out” “fear of missing something”Stop. FOMO is often far from the truth, causing the perception that we are missing out on some great opportunity. Investors captured by this perception can lose serious money by making irrational investment decisions.
People who fall under the influence of FOMO are very similar to the behaviors exhibited in addiction. in addictions brain’s reward center stimulated, which causes an increase in dopamine. Pleasure events and objects cause addiction by stimulating our reward center. The more dopamine, the greater the risk of addiction.
People who enter the crypto money exchange also become addicted as a result of stimulating the reward center in their brains because they earn high money in the first place.
The more money you earn dependence is also increasing. As this behavior continues, it comes with the risk of losing money. The investor, who does not stop this behavior despite losing money, is sinking even more while trying to regain what he has lost. By increasing his risks, he borrows from the environment, takes loans and still thinks that he will win, but unfortunately, he loses everything because he can’t think rationally.
The person, who enters an inextricable vicious circle, becomes depressed and has problems with his environment, family, and job, and the result goes up to suicide.
Some painful examples from people who have recently committed suicide due to crypto:
- Hasan K., 34, and his 31-year-old brother Hüseyin K., who run a cafe in Bursa, allegedly lost a large amount of their investments in the crypto money market. The two brothers disappeared after saying “We will commit suicide in Lake Iznik”. The bodies of the two brothers were found in the lake.
- It was claimed that the reason behind the murders of Mustafa G., who shot 3 people with a gun and committed suicide in a villa in Antalya, was because of cryptocurrencies. Mustafa G., who is claimed to have lost 250 thousand, committed suicide after killing his parents and older sister with a shotgun.
- Electric worker Özkan A., who allegedly invested approximately 170,000 TL in cryptocurrencies and lost it there, hung himself from the ceiling with an electric cable in the basement of his house. He was married and had one child.
- According to the incident in Istanbul, 50-year-old Caner Ü. allegedly sold his apartment and invested his money in crypto money. Caner Ü., who came to the workplace on the street in the morning on the day of the incident, sat down at his computer and began to look at the stock market. Seeing that he had done great harm, Caner Ü. committed suicide by shooting himself on the head with an unlicensed pistol.
- Ercan A., a police officer living in Bursa, became depressed after losing money in Bitcoin and ended his life with a gun.
The big crash on December 4 also caused many losses. As seen in the comments, there are many investors who lost their savings.
Of course, even if you are good at investing, you may suffer from scammers. THODEX etc. We know that there are many cases.
Except this, hacking There are also examples of theft of cryptocurrencies.
People who make such investments, families need to be very careful.
We do not advise “Do not enter these exchanges at all”. Just consider the risks and try not to become dependent, do not use all your savings. If you are showing this type of behavior and you cannot prevent it, you must have a professional psychological help forehead.
Sources: 1, 2, 3