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