It’s rare that a link to a suicide prevention hotline goes viral on social media – particularly when it isn’t in response to anyone having taken their lives or even attempting to do so. But then the second most up-voted post of all time on a cryptocurrency subreddit came during a crash in the value of alternative currencies.
Welcome to Bitcoinfreude – the glee that those people investing in boring old stocks, bonds or real estate and content when they can earn a mere 10% a year feel when seeing fools and their virtual money parted. Unlike the crash in real estate or technology stocks, the number of people that suffered a serious blow to their net worth in recent days is relatively tiny, and so are the violins playing for them.
Other than not being very nice, though, glee at Lamborghini-owning Bitcoin millionaires losing it all could be short-lived if prices bounce back to new highs, as they have after so many previous crashes. Talk about bad car-ma.
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