Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Lucius on October 17, 2024, 05:04:10 PM
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.
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Let me talk from my own personal experience. I am not addicted to investing on altcoins. I prefer to wait for the price to dip and I should buy. But the coins are very volatile which makes me still feel disappointed at times as the coin may disappoint after I invested. But normally I do not see this as an addiction.
What I see as an addiction for me is trading. Addiction in trading is very similar to gambling addiction. If you make money, you will want to make more money. Also if you lose money you will want to still trade. And trading is also very stressful but you will find yourself doing it.
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For me, investing in the world of crypto/altcoins is not an addiction is just one of the many ways to earn, there is no addiction, i don't do it on impulse
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Addiction to investing in cryptocurrency can be likened to wanting to over diversify your portfolio and people who are more prone to this are people who do not understand the risk of over diversification. If you must diversify your portfolio, which is something that some people do not even advise, I believe that over doing it is a danger.
If you over diversify your portfolio because you have the money to do so, over time you would learn the lesson as to why it is dangerous. For this reason, I believe that someone cannot become addicted to investing in cryptocurrencies for too long because somewhere along the line they always get to learn the lesson.
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.
I don't think addiction is a language that could be used for traders, traders don't get addicted rather they derive fun and profit or loss from any coin they venture into trading.
Or else on occasion of those who place funds on these tokens either for long or short term investment, and on the other hand I don't think any individual or investor will continue investing on any token if he is not getting profit in return.
So I guess if the investor is addicted, then he is addicted to profit making but if he gets more losses than gain and the investor is still addicted, he should restrategize and think twice or continue wasting funds.
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With everybody wanting to live large and maximize alot of profits,people take investing in cryptocurrencies as an addiction.Well,i do not find this in some kinda way wrong though, as far as wise investments decisions are being made,i doubt if it's really wrong.Although putting all your eggs in one basket is risky,it's very wise not to makw investment choices out of greed to want more then go ahead investing alot of money always,losses could be aquired.losses are inevitable.
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I think there is no addiction in crypto investment. Most people will invest only in certain crypto coins. We must do research or analysis to choose the right options. We don't invest in a careless way. If we do this, I think we aren't addiction because we know how to invest in the right way. We also realize that not all crypto coins are good, we still use our brain. In addiction, people sometimes became unaware, they aren't realistic in doing it.
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could it be an indication of addicted crypto investor if this person invest to a token and then despite its price gradually declining since the day he bought he didn't?
almost too late already that its price fell to $0.47 from $70+ ATH. i think i knew one man from BTT that i have chat once in a while. he regretted for a bit but once again he is hopeful to see price going up again even without new developments.
not sure if a gambling addict will also be addicted to investing in crypto but i see a gambler wants a quicker profit making scheme like pump and dump.
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To be honest I think some people use altcoins, specially memecoins, just like gambling, because they buy something and hopes to see a big pump
I spend a lot of my time in cryptos, foruns and doing research about projects, airdrops etc, but I don't know if I'm addicted to crypto or not ;D ;D ;D
Haha, I consider myself an enthusiast 8)
I'm curious to see your answer too Lucius
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As humans, do we have to be addicted to brushing our teeth in the morning, or we should do it because of its importance?.
I am not sure if investing in Crypto (or maybe every project) is an addiction. It's just someone's way of trying not to miss every given opportunity, which is also a risk though. I personally, I invest to some extent, but I can't really say that I'm addicted to it.
I barely go for new projects because I'm not certain of it's outcome. But if it were to be airdrops, then count me in. But that still doesn't make it an addiction. Every opportunity seems too precious in the crypto space, since most projects don't give a 100% success guarantee at first.
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I chose the third option: "I think I'm addicted and I have a problem, but I don't know how to stop."
I really feel that I have become addicted to investing, especially in new coins, where I say every time that I will stop, but I don't feel myself until I buy again.
It is good that I do not invest large amounts and I only buy with the campaign money that I get, but this has become very annoying for me because every time I buy a new coin and hope that it will go up, but unfortunately they are all constantly falling.
It is true that the loss is not big because I usually withdraw from the deal at a certain limit, but this has become very annoying to me and I decided to stop this time.
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For me, investing in the world of crypto/altcoins is not an addiction is just one of the many ways to earn, there is no addiction, i don't do it on impulse
i think that is what differentiates addiction to trading or investing
people who invest and trade do it with expertise using their well earned knowledge and skills they do not invest or trade with emotions or at least a good trader would not an addiction makes you want to do something even if it is prohibited because of the possible damage to yourself usually addictions give out short term pleasures but will trading bring you the same pleasure if you do not even earn anything?
i can consider checking the market as an addiction because many people literally do not care about life anymore and just keep checking the market movements
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I think only a fool who got many millions of money in the bank can be addicted to investing with cryptocurrency. Even Bitcoin holders can not be categorized as addicts but believers and maybe waiters. Now, there is nothing wrong per se if one will be addicted in this industry, the only problem is blindly investing with anything that comes to the road...and if one has this habit then we don't have a shortage of projects to invest with as there are many memecoins born everyday. Still, I wish I am this kind of an addict that is assuming I have the money to use for my addiction. The problem is I don't have the money even if I would like to be an addict.
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Let me talk from my own personal experience. I am not addicted to investing on altcoins. I prefer to wait for the price to dip and I should buy. But the coins are very volatile which makes me still feel disappointed at times as the coin may disappoint after I invested. But normally I do not see this as an addiction.
What I see as an addiction for me is trading. Addiction in trading is very similar to gambling addiction. If you make money, you will want to make more money. Also if you lose money you will want to still trade. And trading is also very stressful but you will find yourself doing it.
I think that you also create a best comment in this post. So i am also agree with your comment. We also know that investment is one of the best profitable site in cryptocurrency world. So i believe that it will be a significant payment source in cryptocurrency market. So i didn’t think investment will be addiction for me. We Know that altcoin or bitcoin will best investment sites for us. But if we follow in gambling site, we know that gambling will depending on our luck. So i think that gambling site could be addicts for us.
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I'm not addicted and don't feel the need to keep on checking if there are new coins.
It IS possible to get addicted to crypto trading or investing. You're addicted if you have the compulsive need to invest or trade despite its effects on your finances and relationships, and you feel like you're unable to go with your daily routine unless you buy or sell. (I have a background in Psychology)
So far from the replies I've read, everyone seems to have their heads straight. ;)
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I'm not addicted and don't feel the need to keep on checking if there are new coins.
It IS possible to get addicted to crypto trading or investing. You're addicted if you have the compulsive need to invest or trade despite its effects on your finances and relationships, and you feel like you're unable to go with your daily routine unless you buy or sell. (I have a background in Psychology)
So far from the replies I've read, everyone seems to have their heads straight. ;)
Yeah, I agree. Crypto space is flooded with memes and things that can go pretty bad for a person if he doesn't use stop limits / sees it as a life change for himself (when in reality, the possibility of a good outcome for him, is around 0,00001%, or even less).
Thus, usually, newbies are getting rigged into this mindset, people who are around there for a long time know how it all works and don't choose the projects that are working, in a way, like gambling slot ;D
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.
I personally doubt if there any addictions in cryptocurrency investments; the market is volatile and nobody will be addicted to a volatile market especially on the new start up projects that may turn scams or even dead projects. I will rather consider addictions in crypto trading, because it is based on experience and continuity to always win trades.
Again, investment is absolutely a great options to earning huge returns but it base on Capital, affordable capital to carryout many investments plans. If there is no capital, there will be no investments, and there will no addictions. This my opinion.
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gambling addiction will lose, unlike addiction to investing in crypto where profits will definitely be obtained even in a certain time, if we invest in the right coin, especially if we are good at trading, then profits can be obtained quickly like gambling, getting profit if the market goes up and losing if the market goes down, but that's all the buying and selling cycle in trading in my opinion so you won't lose 100% as long as the coins we have still have sales volume
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Its close to gambling addiction if you think of it that way but then crypto investor would much rather read a lenghty content to confirm whether the project can be successful or not.
I'm sure the traits of gambling addict is different from crypto investor for that matter. But addicted to trading seem to be real. I heard traders just keep buying and selling like a scalper but most probably they got addicted.
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Its close to gambling addiction if you think of it that way but then crypto investor would much rather read a lenghty content to confirm whether the project can be successful or not.
I'm sure the traits of gambling addict is different from crypto investor for that matter. But addicted to trading seem to be real. I heard traders just keep buying and selling like a scalper but most probably they got addicted.
If it's done with analysis beforehand - it's not gambling, you have reasons for what you do, even if you are wrong.
If only your mood decides whether to go in or not - then it's bad for you in the long run.
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Yes More and more young people are investing in cryptocurrencies but this trend raises concerns. Investing in cryptocurrencies is similar to gambling because it involves taking risks and hoping for quick profits. Both can lead to financial losses and emotional problems that affect individuals and their families. Fact is that cryptocurrency transactions are anonymous makes it harder to spot signs of addiction. Investors need to understand risks and their motivations. But I think if anyone has knowledge and learning and investing in any currency after research and detailed plan so he/she not doing gambling because gambling does not need any research.
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I won't actually say I'm addicted, but I'm more of a btc person. I have always had a thing for Bitcoin since joining the crypto space. What I love the most is it decentralized nature, and having no centralized authority. Though the government has found may ways to try and manipulate Bitcoin using centralized exchanges. I still love the decentralized part of btc. Crypto currency is a new technology and have been rapidly growing in a couple of year's. Some people prefer investing in crypto as they get control of their money. But that's not addiction.
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I never considered investing is an addiction so I voted for the last one, obsessed with money is addiction but trying to find ways to make more money doesn't add up as addiction to me either, I am not sure about others but this is my opinion.
Even though there are tons of cryptos out there I strongly believe in Bitcoin and only in Bitcoin to be honest since none of the coins actually satisfied or even came close near Bitcoin in terms of earning the real trust from the users so people have been using them as dump scheme and I never wanted to get caught in that cycle.
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Addiction is probably too strong for people that gambles on altcoins. Nobody would accept that ;D They will still consider it as investing or maybe the constant FOMO is more acceptable because it's what we're used to? Anyway, I belong to the group that bets on them occasionally.
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I'm aware of people who are addicted to gambling, and I know of people who are into it, and its not good because you will end up losing a lot of money if you are not doing it the right way. I prefer to invest when on new coins with potential, and if there is good news about an old coin, I will include it in my portfolio, but I never invest for the sake of investing; its too risky doing that.
There are so many coins and tokens that are launched for pump and dump, and if you are not good at signaling, you will end up with bags of shitcoin.
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Addiction is probably too strong for people that gambles on altcoins. Nobody would accept that ;D They will still consider it as investing or maybe the constant FOMO is more acceptable because it's what we're used to? Anyway, I belong to the group that bets on them occasionally.
I think people when people see opportunity of making money, the greed to make it quickly becomes their friends and because crypto is easy for people to make money, they are always ready to gamble their money on it. Some people will tell you that they rather gamble and but altcoins than use the money to gamble real games and I ask what's the difference with what they are doing.
The new wave is meme demand, the celebrities has had their time and now it's now group of people launching meme coins every day since it's easy, no Whitepaper, no questions about what they are going to do, just launch and then people will be ready to risk it all, the altcoins are getting messier ever day.
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To be honest I think some people use altcoins, specially memecoins, just like gambling, because they buy something and hopes to see a big pump
I spend a lot of my time in cryptos, foruns and doing research about projects, airdrops etc, but I don't know if I'm addicted to crypto or not ;D ;D ;D
Haha, I consider myself an enthusiast 8)
I guess no one is addicted as long as they don't spend more money than they should - but if x new projects appear this week that look promising and you can't resist investing some money in them and you do it week after week then I'd say you have a problem. It is always necessary to find the right measure of everything you do in life.
I'm curious to see your answer too Lucius
My answer is very simply the first option, and maybe even that is not correct because I do not invest in altcoins no matter how much someone proclaims them to be the next big thing. Who knows, maybe I should try - but what if I get addicted and spend too much ::)
Some good posts have received +karma - and a little message to everyone else is that using the +karma button is completely free.
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Its close to gambling addiction if you think of it that way but then crypto investor would much rather read a lenghty content to confirm whether the project can be successful or not.
I'm sure the traits of gambling addict is different from crypto investor for that matter. But addicted to trading seem to be real. I heard traders just keep buying and selling like a scalper but most probably they got addicted.
There is a very significant difference between gambling and investing, except for trading which I think will look the same if a trader trades without having knowledge or just relying on luck. Like the case you said, maybe it will have a bad impact on trading like that because it seems like the trader doesn't know the time.
But investing in crypto is different, especially if we invest in bitcoin. For people who already really believe in bitcoin, then it is the best choice to invest in bitcoin.
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Its close to gambling addiction if you think of it that way but then crypto investor would much rather read a lenghty content to confirm whether the project can be successful or not.
I'm sure the traits of gambling addict is different from crypto investor for that matter. But addicted to trading seem to be real. I heard traders just keep buying and selling like a scalper but most probably they got addicted.
There is a very significant difference between gambling and investing, except for trading which I think will look the same if a trader trades without having knowledge or just relying on luck. Like the case you said, maybe it will have a bad impact on trading like that because it seems like the trader doesn't know the time.
But investing in crypto is different, especially if we invest in bitcoin. For people who already really believe in bitcoin, then it is the best choice to invest in bitcoin.
I agree that investing in bitcoin is better than trading but has no expertise. because investing in bitcoin will bring profit and it is safer.
in trading we must have a strategy and also expertise in making analysis and predictions because it takes a lot of time to focus and always learn.
trading and gambling are different, because in trading relies on analysis and strategy while in gambling only relies on luck.
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Investing in many cryptocurrencies I believe can also be an addiction to people because of the fact that they don’t want to lose hope in some tokens and also would want to take all chances for them to make some good profits. If you’re addicted to something, no matter the number of times you’re seeing a red flag not to continue, you’ll always want to try and put more efforts maybe you can get that big win the next time you try again. I think they’re similar to gambling addiction and you can never get your eyes off the next available token that will be listed and speculated to make a very big pump, you’ll always want to have a trial on them even though the outcome is not certain. I believe there are people with such addictions.
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No i can not think that. Investment in cryptocurrency is not addiction. Because i Think it is a business. We know now a days huge bid big businessmen and many institutions like Bank, insurance etc are investing on cryptocurrency. Even we know some country also invested on cryptocurrency.
We know few years ago El Salvador also taken bitcoin as Legal currency. So now cryptocurrency has been important part of world economy. So investing on cryptocurrency is not as an addiction i believe.
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There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.
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There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.
Money addiction is a big addiction. So wherever we find a way to earn money we use it as an addiction. Because our aim is to earn a lot of money somehow which will make us rich and lead a luxurious life. This is why we become a bit more emotional while investing. And whenever we get emotional, it is common for us to panic and get hurt. Investing in crypto is not a bad thing. This is a good thing because crypto has a lot of potential for the future. Those who will be more expert in crypto will have many opportunities to do good things in future
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investing is never addicting.
trading can often be addicting.
I don't trade a lot but I do invest.
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There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.
Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.
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There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.
Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.
I have started a business myself but i am still spending time on crypto so i am addicted to crypto. Since I've been in crypto for a few years now so i know the source of making money here so i can't walk away from it if i want to. Some people in my area are addicted to gambling and they sell assets just to gamble. That means they are completely addicted to gambling. However i want to invest in crypto but always according to my pocket funds. I am not looking for any kind of loan or asset selling investment in crypto. Because crypto doesn't promise us guaranteed profits.
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There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.
Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.
Agreed, Cypto investing and trading and particularly when the process takes a long time make one develop symptoms of addiction. This is due to excitement that a person gets in making good profits within a small duration of time which helps him or her to extent trading. Like in any other vice, there is always that sense of getting quick and tangible results in terms of revenues and operating profits during the short term.
But the worst part is these signs tend to appear at the early stages of the relationship, still, it is crucial to distinguish them. However, as with trading in general, it is possible to have bad habits when trading crypto which are unbounded trading, trading when emotional, reinvestment, and negative trading feedback loops; these can be avoided by practicing good money management when trading in crypto. Other recommendations include spending shorter periods following the market and avoiding the complete exclusion of other crucial areas within a person’s life. If a person, for instance, finds that their focus is beginning to shift more to profits in cryptocurrencies, or they tend to get anxious when they have not traded for a while, it may well be time to start thinking twice about this particular investment.
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There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.
Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.
I have started a business myself but i am still spending time on crypto so i am addicted to crypto. Since I've been in crypto for a few years now so i know the source of making money here so i can't walk away from it if i want to. Some people in my area are addicted to gambling and they sell assets just to gamble. That means they are completely addicted to gambling. However i want to invest in crypto but always according to my pocket funds. I am not looking for any kind of loan or asset selling investment in crypto. Because crypto doesn't promise us guaranteed profits.
Like you mentioned, you want to invest in crypto but with what you have in your pocket. Good, you also said that some people in your area are addicted to gambling, and they can sell their belongings for gambling.
Now, if you compare these two situations, you might see the difference between you and some of the people in you area who are addicted to gambling.
On your path, you have plans to invest on crypto but with what you have in your pocket, and some people in area will sell their belongings for gambling; in my opinion, you are not addicted to crypto investment but your friends are addicted to gambling.
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I'm not addicted and don't feel the need to keep on checking if there are new coins.
It IS possible to get addicted to crypto trading or investing. You're addicted if you have the compulsive need to invest or trade despite its effects on your finances and relationships, and you feel like you're unable to go with your daily routine unless you buy or sell. (I have a background in Psychology)
So far from the replies I've read, everyone seems to have their heads straight. ;)
I invest in crypto just to add extra income because I feel investing in crypto is very profitable. If you say this is an addiction, it doesn't seem so.
because I focus more on long-term holding, by buying coins during the bearish season and holding for 2-3 years waiting for the bullish season.
I also don't really focus on daily trading, because I'm very busy in the real world.
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There is a very significant difference between gambling and investing, except for trading which I think will look the same if a trader trades without having knowledge or just relying on luck. Like the case you said, maybe it will have a bad impact on trading like that because it seems like the trader doesn't know the time.
But investing in crypto is different, especially if we invest in bitcoin. For people who already really believe in bitcoin, then it is the best choice to invest in bitcoin.
I agree that investing in bitcoin is better than trading but has no expertise. because investing in bitcoin will bring profit and it is safer.
in trading we must have a strategy and also expertise in making analysis and predictions because it takes a lot of time to focus and always learn.
trading and gambling are different, because in trading relies on analysis and strategy while in gambling only relies on luck.
Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.
While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.
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I chose the third option: "I think I'm addicted and I have a problem, but I don't know how to stop."
I really feel that I have become addicted to investing, especially in new coins, where I say every time that I will stop, but I don't feel myself until I buy again.
It is good that I do not invest large amounts and I only buy with the campaign money that I get, but this has become very annoying for me because every time I buy a new coin and hope that it will go up, but unfortunately they are all constantly falling.
It is true that the loss is not big because I usually withdraw from the deal at a certain limit, but this has become very annoying to me and I decided to stop this time.
Thanks for your honesty, so far you are the only one who has admitted that he has a "problem" that this topic deals with. Given that large amounts of money are poured into altcoins and rather pointless projects, someone obviously has a problem if they are constantly throwing money into a bottomless hole hoping to earn something.
A good decision - because if you had only saved the earnings from sig campaigns, you could have earned quite decently, and given that we may be expecting a new bull run, that earnings could only increase.
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There is a very significant difference between gambling and investing, except for trading which I think will look the same if a trader trades without having knowledge or just relying on luck. Like the case you said, maybe it will have a bad impact on trading like that because it seems like the trader doesn't know the time.
But investing in crypto is different, especially if we invest in bitcoin. For people who already really believe in bitcoin, then it is the best choice to invest in bitcoin.
I agree that investing in bitcoin is better than trading but has no expertise. because investing in bitcoin will bring profit and it is safer.
in trading we must have a strategy and also expertise in making analysis and predictions because it takes a lot of time to focus and always learn.
trading and gambling are different, because in trading relies on analysis and strategy while in gambling only relies on luck.
Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.
While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.
trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
I voted for the first one and saw that most people vote for that as well. I don't think crypto investment could be an addiction. Some people may become greedy if they get a couple of times the profit from an altcoin and then decide to try a couple more low-cap altcoins hoping that those altcoins will pump as well. But their greed will turn into a disaster as most of the new altcoins fail.
I have shared this before on multiple occasions that I have a friend who has invested in Shiba inu in the last bull run and he has 7K profit. But then he decided to invest more instead of cashing them out. But he ended up very bad because he staked his Shiba inu on some platform, meanwhile, bull run ended and he had no way to sell those tokens. I learned from his mistake and decided not to try these crap.
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Thanks for your honesty, so far you are the only one who has admitted that he has a "problem" that this topic deals with. Given that large amounts of money are poured into altcoins and rather pointless projects, someone obviously has a problem if they are constantly throwing money into a bottomless hole hoping to earn something.
A good decision - because if you had only saved the earnings from sig campaigns, you could have earned quite decently, and given that we may be expecting a new bull run, that earnings could only increase.
Thank you also for discussing this important topic and for the advice, it came at a good time to help me move forward with my decision. Maybe some people are afraid to admit or do not like to say that they have a problem and simply ignore it, but in my opinion admitting the problem is the beginning of the right path to solve the problem.
Most people have become addicted to buying these shit coins in the hope of rising and making huge profits one day, and the truth is that these projects drain the pockets of investors and they continue to lose, it is exactly like gambling where you gamble your money every time in the hope of winning and then you wake up at the end to find yourself bankrupt.
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I am really confused why investing in crypto is considered as an "addiction". When we look at the meaning of "addiction" it is:
Addiction is defined as not having control over doing, taking or using something to the point where it could be harmful to you.
quoted from:
https://www.nhs.uk/live-well/addiction-support/addiction-what-is-it/
then does investing in crypto include this? if you can still control your investment, control your emotions and stability, manage your money, and have a target that you will achieve, it is not an addiction, but more of a plan and strategy in investing, the more, the better, as long as it is the amount that you can afford to lose. and this is very reasonable to do to invest.
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Addiction to investing in cryptocurrency can be likened to wanting to over diversify your portfolio and people who are more prone to this are people who do not understand the risk of over diversification. If you must diversify your portfolio, which is something that some people do not even advise, I believe that over doing it is a danger.
If you over diversify your portfolio because you have the money to do so, over time you would learn the lesson as to why it is dangerous. For this reason, I believe that someone cannot become addicted to investing in cryptocurrencies for too long because somewhere along the line they always get to learn the lesson.
A lesson indeed. I think it was in the past I found myself having a diversified investment in coins that were mentioned to me to invest in, by friends. But at times begin to roll along, I begin to learn my lesson that not all altcoins can be as profitable as I thought. There are altcoins you will buy at a high price, thinking that they will skyrocket more, not knowing that they will decline in price the next day. The moment their price decreases, it will be very hard for them to find their way back to their high-price days back
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Thank you also for discussing this important topic and for the advice, it came at a good time to help me move forward with my decision. Maybe some people are afraid to admit or do not like to say that they have a problem and simply ignore it, but in my opinion admitting the problem is the beginning of the right path to solve the problem.
Most people have become addicted to buying these shit coins in the hope of rising and making huge profits one day, and the truth is that these projects drain the pockets of investors and they continue to lose, it is exactly like gambling where you gamble your money every time in the hope of winning and then you wake up at the end to find yourself bankrupt.
I have not yet met a gambler who admitted that he is addicted to gambling, although I know people who lost their entire salary in a casino in one night and then went to borrow money so they could gamble more. I think there are also people who spend more money than they should on investing in cryptocurrencies because they can't resist anything they see, and various crypto influencers have flooded all social networks and promote everything that someone pays them for.
Maybe this addiction has not yet reached global expression, but my personal observation is that there are a lot of people who constantly lose money and do not learn anything from their mistakes.
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I can share my view regarding the addicted to the crypto bcz we have spent lot of time in trading or investing now the next few month can life changing for us. So for that I'm so addicted to the crypto for the freedom from my job, so waiting for apt season and will trade a lot.
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Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.
While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.
trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.
There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.
While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.
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For now, just looking to make some money. However, I still pause and think carefully before investing. I set daily targets, and when I meet them, I'm out. Admittedly, one can get addicted to the thrill, adrenaline, and pump.
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Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.
While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.
trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.
There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.
While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.
Well, To determine this, we have to note that in trading, every decision has to be made as fast as possible because market shifts happen so rapidly that it only takes a few seconds for our assets to lose considerable value. This means we need to be able to respond swiftly in order to prevent them from occurring and causing significant financial damage. Reading the market trends is the most important aspect which can determine success in trading in short time.
Investing on the other hand allows us to have space to be less reactive in market signals. When the existing value of the asset crashes, we can still maintain the asset as long as the coins or stocks that we possess are secure and stable. While it certainly takes longer, especially when the market is in upheaval, like in a bear market, we can feel more comfortable knowing that long-term investments are generally more fruitful if you choose the right asset.
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The question and the options are little bit awkward for me because I don't think I have any addiction on cryptocurrency for investment because I do it occasionally when see I can have some opportunity by the investment and I have long-term bitcoin holder and adopter I am holding bitcoin by dollar cost averaging. And now I don't know how you call it addiction or something else!!!!
Yes investment on cryptocurrency can be also like an addiction I have some people like this who thought that trading is a way of being quick rich and they invest on it without having proper knowledges and as a result they are having big loss and even that my suggestion to stop investment they do that and again they are facing the losses. So in these kinds of case we can call them they are addicted on it by their greed.
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Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.
While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.
trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.
There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.
While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.
It all depends on the details because people do trade differently - some hold only for a moment before selling their bags, some do it for a day, a week, a month - but it's still a short term in the grand scheme of things.
So it all depends on a person and how he would want to achieve his target, while still being responsible.
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I did margin trading for some time and I was addicted, addicted in the sense to check position(s) every few minutes, checking coinmarketcal to know which coin to buy next; soon figured this type of trading is not for me as it made me restless.
Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.
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I did margin trading for some time and I was addicted, addicted in the sense to check position(s) every few minutes, checking coinmarketcal to know which coin to buy next; soon figured this type of trading is not for me as it made me restless.
Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.
You would really be normally be making out some adjustments on the moment or time that you would be finding on which kind of trading would really be suiting out with your
time and with the best of your capability. It would really be that impossible that you cant be able to determine on which one would fit out into you. It would be normal that you would really be sticking into the ways that you do seem that you could be able to make money or make profits. It would really be that something that you do find out that works for you.
You would be sticking into that one and find out which makes money.
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Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.
This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too
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Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.
This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too
No one knows lowest point of coin, I make purchase if I find price right, if it dips further from there and I have funds I buy again.
Regarding taking profit, I only take profit in months or years, or when I need money, lol. Currently, I plan to take profits from my holdings next year.
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Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.
This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too
Of course, we really don't know what will be the lowest point of a coin, hard to predict and we all based on it thru indicators, but it's not that accurate. That's why we said that the best strategy is to do DCA week after week and month after month of hard grinding.
I don't think it's addiction, as we are looking not just for our future, but for our family and kids as well. Think about it, we investment on it for many years because of the huge profit that we can make and with that, it will make our lives easier as we have the financial freedom and we can give a good future for our kids as well.
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From the pool. The two options that people are voting are first one and the last one. And first one indicates that it is something people do occasionally and not regularly and if they see good cryptocurrency to invest. But do we have good cryptocurrency to invest apart from bitcoin? Then the last one said, there is nothing like addiction in cryptocurrency investment. And I also tick on the last one because in my experience in the cryptocurrency investment. I don't think anyone is addicted to invest in cryptocurrency investment and invest any project that he or she comes across.
(https://www.talkimg.com/images/2024/10/22/Kwu4Z.jpeg)
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Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.
This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too
If you want short term profit you can get it at the end of this year, but I prefer to sell my coins next year, because this year I still intend to buy not sell potential coins because I am waiting for bitcoin to reach ATH $ 100K then I will sell my coins, because it is likely that when bitcoin reaches a price of more than $ 100K, altcoins will also reach ATH.
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There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.
While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.
Well, To determine this, we have to note that in trading, every decision has to be made as fast as possible because market shifts happen so rapidly that it only takes a few seconds for our assets to lose considerable value. This means we need to be able to respond swiftly in order to prevent them from occurring and causing significant financial damage. Reading the market trends is the most important aspect which can determine success in trading in short time.
Investing on the other hand allows us to have space to be less reactive in market signals. When the existing value of the asset crashes, we can still maintain the asset as long as the coins or stocks that we possess are secure and stable. While it certainly takes longer, especially when the market is in upheaval, like in a bear market, we can feel more comfortable knowing that long-term investments are generally more fruitful if you choose the right asset.
The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
In fact, this actions involve making rapid decisions especially where a precise and timely decisions must be made in other for an optimum outcome to be secured, and these are skills that are learnt with time. Over the period of time we understand how things work, how situations base and act fairly properly and in a calmer manner and also more confidently even when the opposed party tries to compel us. I think the reason we remain imprecise in our interactions is because our practice and learning is not standardized enough, therefore, how can we gain experience that will tell us how to read a situation accurately. It will also help us improve or make better decisions over time and have confidence in tackling many issues.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
I agree with what you said "By working on these skills we can become more confident and accurate decision makers" by having good experience and skills we can make decisions faster, because in making decisions sometimes we have doubts and we can eliminate those feelings of doubt and become more confident by having good experience.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
I agree with what you said "By working on these skills we can become more confident and accurate decision makers" by having good experience and skills we can make decisions faster, because in making decisions sometimes we have doubts and we can eliminate those feelings of doubt and become more confident by having good experience.
That is very important, because when we doubt the decision we make, it means that we still doubt the abilities or skills that we have, well that will make us hesitate and believe me it will mess up our analysis.
Self-confidence is very important when we analyze. However, we also should not have excessive self-confidence, because that is also not good. So we must be able to balance everything.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
I agree with what you said "By working on these skills we can become more confident and accurate decision makers" by having good experience and skills we can make decisions faster, because in making decisions sometimes we have doubts and we can eliminate those feelings of doubt and become more confident by having good experience.
Timing is especially important while trading, however, overall, it's important everywhere, if you don't apply DCA and buy in lumps especially.
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In this way, altcoins are similar to gambling, as today's youth population is highly addicted to looking at each other.
Trading in crypto currency without understanding increases the risk. I believe that many people who invest in crypto currency for a long time are not addicted but they learn a lot.
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That is very important, because when we doubt the decision we make, it means that we still doubt the abilities or skills that we have, well that will make us hesitate and believe me it will mess up our analysis.
Self-confidence is very important when we analyze. However, we also should not have excessive self-confidence, because that is also not good. So we must be able to balance everything.
I agree with you we can have confidence but not too much because we need to think clearly to make analysis and develop strategies. Doubt occurs due to lack of experience so if you have been investing for a long time, it is likely that doubt will disappear and we will be more confident.
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That is very important, because when we doubt the decision we make, it means that we still doubt the abilities or skills that we have, well that will make us hesitate and believe me it will mess up our analysis.
Self-confidence is very important when we analyze. However, we also should not have excessive self-confidence, because that is also not good. So we must be able to balance everything.
I agree with you we can have confidence but not too much because we need to think clearly to make analysis and develop strategies. Doubt occurs due to lack of experience so if you have been investing for a long time, it is likely that doubt will disappear and we will be more confident.
Indeed, sometimes something excessive will lead us to something that ultimately harms ourselves, self-confidence is one example.
Likewise with fear, actually fear is also a very natural thing. If we are good at controlling it, then it can be something that will make us very careful, but if it is excessive then we will never take a step. Well once again there must be a balance in everything we do.
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It cannot be an addiction to me becuase of the fact that investing in cryptocurrencies is way more expensive and it all carries risk. As an average individual with no stable job it can't be but for some hardcore investors it is a vice and they can be addicted to it. The more capital I think you can be greedy depending on your budget and strategy.
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.
Well, the main reason people tend to invest in cryptocurrencies is basically for the maximization of profits.
However,while realizing little profits or even much higher profits let's say,individuals,basically talking about newbies and maybe other investors tend to get addicted to investing in cryptocurrencies.This desire tends to generate losses if care is not taken because they tail to analyse the market properly,before making investment choices or decisions.
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It cannot be an addiction to me becuase of the fact that investing in cryptocurrencies is way more expensive and it all carries risk. As an average individual with no stable job it can't be but for some hardcore investors it is a vice and they can be addicted to it. The more capital I think you can be greedy depending on your budget and strategy.
Crypto investment indeed entails high risks and big capital, and so those of us with little funds can’t afford to indulge ourselves in making it an obsession. That is easier to control if we continue aware of our capital constraints and goals.
On the other hand, for some experienced investors, the level of risk taking increases with capital and credit. It is also important that we should always have a plan so that we would not have the propensity to be so greedy as much as we can, and it is also ideal that we should keep to our budget as much as possible.
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It cannot be an addiction to me becuase of the fact that investing in cryptocurrencies is way more expensive and it all carries risk. As an average individual with no stable job it can't be but for some hardcore investors it is a vice and they can be addicted to it. The more capital I think you can be greedy depending on your budget and strategy.
Maybe I can be said to be a person who is addicted to investing in Crypto because I always try to add to the collection of my coin coins so I can get a greater opportunity to make a profit. I am a crypto lover and want to have a crypto asset that is bigger than now, by trading and always using the benefits of my trading to buy potential altcoin gradually, DCA.
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In this way, altcoins are similar to gambling, as today's youth population is highly addicted to looking at each other.
Trading in crypto currency without understanding increases the risk. I believe that many people who invest in crypto currency for a long time are not addicted but they learn a lot.
If altcoins are similar to gambling, what are you going to call meme coins? Wasting money I think. :D Altcoins are risky investment in cryptocurrency but I can tell you that there are some altcoins that are doing well in the market that if I had the opportunity to go back in time, I will buy them again but I'm just waiting for the opportunity to see what the market will do next.
Any altcoin that is having competition from other communitie and the developers are very active doing new things to make the chain active, those are the type of altcoins I'm talking about. Solana for example is the type of altcoin in talking about, there is always a good demand because of the activities around it.
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In this way, altcoins are similar to gambling, as today's youth population is highly addicted to looking at each other.
Trading in crypto currency without understanding increases the risk. I believe that many people who invest in crypto currency for a long time are not addicted but they learn a lot.
If altcoins are similar to gambling, what are you going to call meme coins? Wasting money I think. :D Altcoins are risky investment in cryptocurrency but I can tell you that there are some altcoins that are doing well in the market that if I had the opportunity to go back in time, I will buy them again but I'm just waiting for the opportunity to see what the market will do next.
Any altcoin that is having competition from other communitie and the developers are very active doing new things to make the chain active, those are the type of altcoins I'm talking about. Solana for example is the type of altcoin in talking about, there is always a good demand because of the activities around it.
Altcoin is not something gambling, because in choosing Altcoin we must make observations and make analysis by observing the market and the project. Maybe Shitcoin and Meme are gambling but if we choose a good and popular coin meme by buying at the right time and selling it while we are still hype we can benefit.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
The more stress-free a person is, the better he is at making appropriate decisions. Moreover, those who make quick decisions are more likely to make mistakes. And in taking a decision on any matter, it is necessary to have knowledge about it. The higher the level of knowledge, the lower the number of mistakes in decision-making and the better decision-making that will be beneficial at the individual level. When a person takes decisions by having the necessary knowledge, skills, experience and patience etc he will be ahead in all aspects.
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The difficult thing is when we have to make decisions quickly and also quickly, it becomes a challenge for ourselves. Because sometimes even when we are relaxed in making decisions, the decisions we make can still be wrong.
So here it really requires a lot of experience and a lot of knowledge so that our ratio of making decisions quickly and also correctly can be greater. And that cannot be achieved in a short time, it will definitely take a very long time in learning.
You are right making quick and good decisions can be hard especially when under stress. Even when we think carefully mistakes can still happen. That is why experience and knowledge are important for making good choices. More we practice and learn from our mistakes better we become at making fast and informed decisions. This skill takes time to develop and requires patience self awareness and ongoing learning. By working on these skills we can become more confident and accurate decision makers.
The more stress-free a person is, the better he is at making appropriate decisions. Moreover, those who make quick decisions are more likely to make mistakes. And in taking a decision on any matter, it is necessary to have knowledge about it. The higher the level of knowledge, the lower the number of mistakes in decision-making and the better decision-making that will be beneficial at the individual level. When a person takes decisions by having the necessary knowledge, skills, experience and patience etc he will be ahead in all aspects.
In making decisions we must have a clear mind, not in a stressful condition, because the right decisions and strategies can be made if we focus and have good knowledge and experience. In making decisions we must do research, make analysis and start developing strategies.
many people rush to make decisions without being based on the right analysis, eventually they lose their money because they make the wrong decision.
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.
Well, it's not actually something to be quite surprised about,i.e how people take investing in cryptocurrency as an addiction.
Point is, the main reason why every investor joins the crypto space is basically for profit maximization.Now,when some individual or newbies,who see that they can get more while investing,maybe if they make the right choices,they tend to continue and keep on investing even while its not necessarily just so that they can have something to keep in their pocket and this is where greed as a factor comes in.Greed is what drives you crazy or want more,to aquire more,it won't make you okay with the little or much you have acquired but would persist on you having more.
And when an investor is driven by greed when making investments decisions, losses might be basically sure to be welcomed.
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The more stress-free a person is, the better he is at making appropriate decisions. Moreover, those who make quick decisions are more likely to make mistakes. And in taking a decision on any matter, it is necessary to have knowledge about it. The higher the level of knowledge, the lower the number of mistakes in decision-making and the better decision-making that will be beneficial at the individual level. When a person takes decisions by having the necessary knowledge, skills, experience and patience etc he will be ahead in all aspects.
Of course, when we make quick decisions, we tend to make wrong decisions if we don't have knowledge. Even someone with extensive knowledge sometimes still makes wrong decisions, especially without knowledge.
Here we should be able to realize how important knowledge, skills and experience are for someone. And this is not only happening in the crypto space, but in every aspect of life.
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The more stress-free a person is, the better he is at making appropriate decisions. Moreover, those who make quick decisions are more likely to make mistakes. And in taking a decision on any matter, it is necessary to have knowledge about it. The higher the level of knowledge, the lower the number of mistakes in decision-making and the better decision-making that will be beneficial at the individual level. When a person takes decisions by having the necessary knowledge, skills, experience and patience etc he will be ahead in all aspects.
Of course, when we make quick decisions, we tend to make wrong decisions if we don't have knowledge. Even someone with extensive knowledge sometimes still makes wrong decisions, especially without knowledge.
Here we should be able to realize how important knowledge, skills and experience are for someone. And this is not only happening in the crypto space, but in every aspect of life.
In investing, knowledge, experience and skills are always needed to be able to make decisions quickly, but without knowledge and experience, sometimes the decisions we make are wrong. Everyone has made that mistake and make that mistake a lesson. We can learn to change strategies and sharpen analysis and predictions in trading or investing in crypto.
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In investing, knowledge, experience and skills are always needed to be able to make decisions quickly, but without knowledge and experience, sometimes the decisions we make are wrong. Everyone has made that mistake and make that mistake a lesson. We can learn to change strategies and sharpen analysis and predictions in trading or investing in crypto.
Indeed, Experience and knowledge are critical when investing because, as envisaged sometimes we are confronted with uncertainties, for instance, ever shifting markets. Failures are lessons we learn right from mistakes that make us more mature, especially when dealing with opportunities or risk.
At least we can go on experiencing, and thus improve our strategies, and enhance our ability of analysis. Thus, we can be more prepared to deal with the fluctuations of crypto investment and try to improve results in a future period of time.
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Well, it's not actually something to be quite surprised about,i.e how people take investing in cryptocurrency as an addiction.
Point is, the main reason why every investor joins the crypto space is basically for profit maximization.Now,when some individual or newbies,who see that they can get more while investing,maybe if they make the right choices,they tend to continue and keep on investing even while its not necessarily just so that they can have something to keep in their pocket and this is where greed as a factor comes in.Greed is what drives you crazy or want more,to aquire more,it won't make you okay with the little or much you have acquired but would persist on you having more.
And when an investor is driven by greed when making investments decisions, losses might be basically sure to be welcomed.
I agree with your points. Anything that is tied to profit can be quite addictive especially cryptocurrency that tends to multiply capital into multiple x within a twinkle of eyes if the market want to showcase craziness. Greediness is one thing we can not separate from human mind and of course, seeing profits like this will definitely push you to continue despite the downs you may face most of the time. As soon as you can get yourself away from such mindset, addiction is already setting in.
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Of course, when we make quick decisions, we tend to make wrong decisions if we don't have knowledge. Even someone with extensive knowledge sometimes still makes wrong decisions, especially without knowledge.
Here we should be able to realize how important knowledge, skills and experience are for someone. And this is not only happening in the crypto space, but in every aspect of life.
In investing, knowledge, experience and skills are always needed to be able to make decisions quickly, but without knowledge and experience, sometimes the decisions we make are wrong. Everyone has made that mistake and make that mistake a lesson. We can learn to change strategies and sharpen analysis and predictions in trading or investing in crypto.
That's the point, everyone must have made mistakes, and the most important thing is how we can learn from the mistakes we made before. That way, in the future we will be better at making decisions.
I think we will not always be in the right decision, because there are times when we will be wrong. especially when it comes to the market, we know the market is very volatile and it is possible for sudden changes to occur.
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Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?
You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.
Basically, investing in cryptocurrency as an addiction is nothing to be surprised about.
Reason cause the main reason why investors tend to invest in crypto is basically to maximize profit right? Obviously yes.And when they find out earning profit from crypto could be a lot more better after realizing some profits,they become greedy,hungry for more cause basically,we are humans,we tend to want more,always literally.
Well,departing from this, I personally don't allow my self to be ruled by greed when making investment choices and would advice other investors and newbies to adhere to this too.Putting greed in line of your investment could welcome a lot of losses which wouldn't be bearable at all.Invest wisely.
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Re: Investing in cryptocurrencies as an addiction?
No. Not at all.
I mean I don't see any instances where investing into cryptocurrencies is considered as addictive. Maybe if you continuously invest into low market cap coins and you don't know if you will make money or lost it all on that project, and you did it multiple times then that might be considered an addiction already. Addiction to gamble on low market cap currencies.
As for my experience, I'm not addicted into investing into cryptocurrencies at all. I see it as a good thing since I, or should I say we can make profits off of it. As long as we know what we are doing, and we are focusing on investing into the top coins especially Bitcoin, and maybe Ethereum, it's not addicting at all. Hmmm, maybe we can consider it as an addiction if we somehow spend the money that's intended into other things into investing into Bitcoin and somehow, it affects your life negatively.
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Of course, when we make quick decisions, we tend to make wrong decisions if we don't have knowledge. Even someone with extensive knowledge sometimes still makes wrong decisions, especially without knowledge.
Here we should be able to realize how important knowledge, skills and experience are for someone. And this is not only happening in the crypto space, but in every aspect of life.
In investing, knowledge, experience and skills are always needed to be able to make decisions quickly, but without knowledge and experience, sometimes the decisions we make are wrong. Everyone has made that mistake and make that mistake a lesson. We can learn to change strategies and sharpen analysis and predictions in trading or investing in crypto.
That's the point, everyone must have made mistakes, and the most important thing is how we can learn from the mistakes we made before. That way, in the future we will be better at making decisions.
I think we will not always be in the right decision, because there are times when we will be wrong. especially when it comes to the market, we know the market is very volatile and it is possible for sudden changes to occur.
In trading I also often make mistakes in analysis and predictions or make mistakes in formulating the right strategy in order to achieve profit. It is natural as a human being, but we must be able to manage our finances and the risks we take, by learning from our mistakes we must be more careful in making analysis and strategies, because the opportunity to make a profit still exists. We must be disciplined and always train our skills to be successful in investing and trading.
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- I'm just not sure at what point you're referring to the addiction OP. In my understanding, because of what you are saying, maybe there are other investors who always invest or just do their dca in a top crypto only in Dogecoin; there are this type of investor, and maybe in others it is the same.
But on my part as an investor, I don't think I have an addiction to investing in cryptos; the only thing for me is that when I see potential in the future, I will buy even a small amount as long as every time there is a purchase, that's it. what I will do, just simple as that.
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That's the point, everyone must have made mistakes, and the most important thing is how we can learn from the mistakes we made before. That way, in the future we will be better at making decisions.
I think we will not always be in the right decision, because there are times when we will be wrong. especially when it comes to the market, we know the market is very volatile and it is possible for sudden changes to occur.
In trading I also often make mistakes in analysis and predictions or make mistakes in formulating the right strategy in order to achieve profit. It is natural as a human being, but we must be able to manage our finances and the risks we take, by learning from our mistakes we must be more careful in making analysis and strategies, because the opportunity to make a profit still exists. We must be disciplined and always train our skills to be successful in investing and trading.
Managing finances and managing risk is something that should not be done in a trade, because it will determine our finances when we feel a loss. Because without both of them we might get a loss that we ourselves are not ready for.
Therefore, some people suggest always implementing stop loss and take profit. Stop loss to minimize losses and take profit to avoid greed.
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I agree with your points. Anything that is tied to profit can be quite addictive especially cryptocurrency that tends to multiply capital into multiple x within a twinkle of eyes if the market want to showcase craziness. Greediness is one thing we can not separate from human mind and of course, seeing profits like this will definitely push you to continue despite the downs you may face most of the time. As soon as you can get yourself away from such mindset, addiction is already setting in.
If I ever get addicted to crypto investment and I make profits to my satisfaction, then I want to be addicted for life. It will pay me to be addicted to seeing opportunities in crypto, invest in them and make my money than gambling the little I have into casino games that is too risky and the addiction is even worse than investing in crypto.
It's good to do things moderately but I'm not sure if there is anything bad investing in crypto and having making your profits to your pocket. If there are some that you buy and believe will make you profits didn't bring profit, hold them tight until you are able to get back your money.
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Managing finances and managing risk is something that should not be done in a trade, because it will determine our finances when we feel a loss. Because without both of them we might get a loss that we ourselves are not ready for.
Therefore, some people suggest always implementing stop loss and take profit. Stop loss to minimize losses and take profit to avoid greed.
Stop loss and take profit are two basic ways as a trader. because both are good methods where stop loss will minimize our losses while take profit is a way to get profit to avoid greed.
but in my opinion risk management is also needed in trading. Because by managing the risks we take will make us know the possibility of getting profit or having to lose.
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Managing finances and managing risk is something that should not be done in a trade, because it will determine our finances when we feel a loss. Because without both of them we might get a loss that we ourselves are not ready for.
Therefore, some people suggest always implementing stop loss and take profit. Stop loss to minimize losses and take profit to avoid greed.
Stop loss and take profit are two basic ways as a trader. because both are good methods where stop loss will minimize our losses while take profit is a way to get profit to avoid greed.
but in my opinion risk management is also needed in trading. Because by managing the risks we take will make us know the possibility of getting profit or having to lose.
The two basic measures, stop loss and take profit are steps that help us to be more planned when overcoming market fluctuations. A stop loss will help to ensure that losses do not inflate to high levels while take profit ensures that profits are protected without the trader being obsessed with trying to bet bigger.
Moreover, on the basis of my view, risk management is a significant starting point in each trade trick. It is a way of better understanding how the risks that we take will give us a better probability of what results might look like, in the form of gains and in the form of losses as well. It makes us much ready to encounter different scenarios as fully aware being.
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Managing finances and managing risk is something that should not be done in a trade, because it will determine our finances when we feel a loss. Because without both of them we might get a loss that we ourselves are not ready for.
Therefore, some people suggest always implementing stop loss and take profit. Stop loss to minimize losses and take profit to avoid greed.
Stop loss and take profit are two basic ways as a trader. because both are good methods where stop loss will minimize our losses while take profit is a way to get profit to avoid greed.
but in my opinion risk management is also needed in trading. Because by managing the risks we take will make us know the possibility of getting profit or having to lose.
Yes, of course we should not just ignore it, without it all our trading journey might fall apart because we cannot manage everything very well. That is a basic lesson that we should understand.
Usually we ignore it because we consider it as something less important, but in reality it is one of the very important things that we must apply in trading. We cannot ignore even the smallest thing in trading.
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Yes, of course we should not just ignore it, without it all our trading journey might fall apart because we cannot manage everything very well. That is a basic lesson that we should understand.
Usually we ignore it because we consider it as something less important, but in reality it is one of the very important things that we must apply in trading. We cannot ignore even the smallest thing in trading.
Literally, every aspect of trading needs to be monitored in order to gain the best possible outcome. When going through this process, we are always inclined to dismiss some aspects are insignificant while they actually are very important. When all of these are being attended to in the highest level of attention, then a sound platform for a standard and risk free trading experience is set.
And we all know that, accustomed to underestimating small things, we may actually hinder the progress that has been started. There should be in our minds the realisation that each move we make, or each action that we undertake has a bearing on the outcome. In this way we will be able to sustain the quality of trading decisions, minimise the undesired risks out there while in general, make our entire trading process more deliberate and premeditated.
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Yes, of course we should not just ignore it, without it all our trading journey might fall apart because we cannot manage everything very well. That is a basic lesson that we should understand.
Usually we ignore it because we consider it as something less important, but in reality it is one of the very important things that we must apply in trading. We cannot ignore even the smallest thing in trading.
Literally, every aspect of trading needs to be monitored in order to gain the best possible outcome. When going through this process, we are always inclined to dismiss some aspects are insignificant while they actually are very important. When all of these are being attended to in the highest level of attention, then a sound platform for a standard and risk free trading experience is set.
And we all know that, accustomed to underestimating small things, we may actually hinder the progress that has been started. There should be in our minds the realisation that each move we make, or each action that we undertake has a bearing on the outcome. In this way we will be able to sustain the quality of trading decisions, minimise the undesired risks out there while in general, make our entire trading process more deliberate and premeditated.
Well, things that are considered unimportant are often ignored and missed, even though they could have a big impact on our trade. However, it seems that this is the natural nature of humans who often ignore something small even though its role is very large.
To be a good trader, we must be able to see everything, no matter whether it is important or not, big or not, we must still pay attention to it so that we don't regret it later.