Investing in cryptocurrencies as an addiction?

[Rubel007]

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.

[nakmantu99]

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.

[Baki202]

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.

[$crypto$]

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.

[satpol_PP]

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.

[Blaze]

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.

[knowngunman]

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.

[$crypto$]

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.

[Baki202]

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.

[LogitechMouse]

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.

[densus88]

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.

[Mr. Magkaisa]

        -      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.

[$crypto$]

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.

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.

[Gurujebs]

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.

[Hisbullah]

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.