Forums warn against suicide in wake of Bitcoin price crash
In the past 24 hours the much-hyped cryptocurrency Bitcoin has tumbled from lofty prices over $800 down to less than $500. The stock plunge has ben blamed, primarily, on major Chinese market BTC China shutting down trading in Yuan following an official decision from the Chinese government that Bitcoin could not be used as currency in the country.
After the soaring highs of $1,000 USD per Bitcoin, returning to $500 is a precipitous drop that seems to be too much for some to bear. Foolhardy 'investors' may have sunk significant portions of their savings into this untested and unpredictable currency expecting to get rich quick which has led users to fear that people who have gambled and lost may be contemplating suicide.
At the moment there are no reports of anyone actually contemplating ending their life over Bitcoin but the jump to this kind of emotional support and crisis speaks to the immaturity of the audience that is currently most affected by this currency.
While inflation and economic struggles certainly impact the average worker (or 'user of currency')- it doesn't usually send people into emotional tailspins like this. Even if there are virtually no people contemplating suicide, it is still a rather sad comment on the state of the Bitcoin market that many users are over-committed to a currency and technology that has fairly limited day-to-day use and is virtually incomprehensible to the average citizen.
Investors are politely encouraged to donate their potentially worthless bitcoins at the link below.