How many people will die at the hands of Crypto

in #steem6 years ago (edited)

We all know it, though crypto may be bringing forth a paradigm-shift in financial markets by offering a less centralized form of the stock exchange , for the most part it is a bubble. The only real question is, when will this bubble pop?

With droves of people lining up to mortgage their homes, liquidate their personal assets and rack up copious amounts of debt in a desperate attempt of striking it rich, it is obvious that this financial model is far from being a sustainable one. Though that is not to say that the entire market will erode to nothing altogether. Moving forward, only the strongest crypto currency will survive in the long-term. Unfortunately, all of the ones that are based on false value propositions and in essence air, will falter beneath our feet.

With that being said, the real question is, how many people will lose everything and default to suicide as a result ? Bubbles always have their dark-side, the sub-prime lending fiasco in 2008 the national energy program in Canada in the 1980's and the great depression in the 1930's all led to a sudden and unfortunate spike in suicides. Sadly when observing the causation's of suicides in the first place, financial issues are at the top of the list with a purported 10 percent of suicides being linked to financial stress and unfortunately, these bubbles only exacerbate this statistic.

So how many years are really left in the bubble? Many people may think they are really smart by 10, 100 or 1000 X'ing their money over the last 4 years, but in essence, the blood of the late investors will be on the hands of the early ones. Unless we as whole join together and stop investing money into pump in dump scams, in a blatant and obvious attempt to mislead, will there be a chance for this market to survive, grow and thrive. The returns that's have been realized over the last 4 years are not sustainable and are nothing more than a musical game of chairs. Will you be left with out seat ? Trust me, if your going to try to hang yourself after this is all over, your really going to need one.

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So true...

I agree 100% with @fuckmylife

This irrational exuberance needs to be stopped and regulators need to step in

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