Addiction probably represents one of the hardest things that our society had to cope with for hundreds of years until now and there still isn’t a clear cure meant to combat it.
From gambling, cigarettes, alcohol and drugs, addiction represents a growing problem that millions of people have to deal with on a daily basis, many of whom are unfortunately defeated and continue with their addiction without caring about their health or money.
In today’s society, where the Internet has taken over the world, that are a couple of emerging addictions including those for online gambling, gaming and even watching TV shows. However, one of the newest additions to the chart is the cryptocurrency addiction, which can manifest itself in a surprising number of ways. For Bitcoin, things started back in 2014 when people who had already invested a certain amount of money in the coin and just wanted to try it out, became rich overnight, as its value increased to a whopping $1200 in a matter of weeks. Most of these people instantly became Bitcoin enthusiasts and started using the Bitcoin for a wide array of things including online gambling, as it represented a way to get a lot of money fast, without worrying about anything in the world.
However, as they continued to trade, learn more about the coin and make large amounts of money, while losing even larger sums, many of them became obsessed with the idea of cryptocurrencies, and developed an addiction never encountered by scientists before. Additionally, these upon running out of Bitcoins, these people also started changing real currencies into the coin, thus losing even more money in the long run. For many, it wasn’t only gambling, where large amounts could be won and lost, but it also came down to selling the coin, investing in things that had no sense and trading commodities, all behind their screens. Don’t get me wrong as Bitcoin is meant to be a currency that can be freely used for just about anything, but there should always be a limit to how much some spend with it both in terms of time, but also of money. Studies have also shown that around half of those who have lost all their Bitcoins gambling have instantly went ahead and purchased more as an effort to continue their gambling endeavors, thus bringing more failure in the long run, as things were not thought through.
Using Bitcoin has and will probably represent a risk for the next couple of months, until the value of it increases again and it decides to swing around a certain price. Until then, it is careful to make sure that no one falls into addiction because too much of everything has always had its own risks. However, Bitcoin is perfectly safe for almost any type of transaction as long as it is not illegal and overdone as that would bring in other sorts of trouble. Using both cryptocurrencies, but also normal currencies for large transactions, investments, buying products or for gambling is a risk and those doing it with Bitcoin should be well aware of this.
As there is a possibility for those who gamble with Bitcoin to develop addictions, please let us know if you know anyone that has battled with a cryptocurrency addiction until now. How did they manage to get over it? Let us know your thoughts in the comment section below.
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