Trading Bitcoin and crypto "could destroy your life", go to rehab hehehe

[bbc.reporter]

I was shaking my head and laughing very hard when, according to the article, the priest asked are you gambling? and Rojas told him it's crypto hehehehehehe.

In any case, I am very skeptical because this article appears to be an advertisment paid for by the Swiss rehab mentioned for cryptoaddicts. Also, they charge $90,000 per week to the people who lost everything in crypto? What will they tell you to battle the addiction? Trade stocks and bonds?



The old cravings sometimes creep up on Stevie Rojas and work on his nerves and start to hijack his brain. But he says that he’s kicked the habit — that he’s quit cryptocurrencies cold turkey. A lot of people get into crypto. Rojas did, and more: He says he got hooked on it. Rojas is an entrepreneur in his early 30s, and he began experimenting with cryptocurrencies for all the usual reasons: boredom, curiosity, fear of missing out. He started with Bitcoin and discovered he liked the rush.

Rojas became — his word — an “addict.”

And so one day last year Rojas knelt in the darkened confessional of a Roman Catholic church in Manila, where he lives. He broke down and prayed for help.

Are you gambling? the priest asked.

It’s crypto, Rojas told him.

Is it really possible to be addicted to cryptocurrency? The idea is contentious, but it isn’t far-fetched — particularly to the lucrative addiction-treatment industry. From a $90,000-a-week Swiss clinic to relatively inexpensive teletherapies, crypto, of all things, has come to rehab.

Read in full https://www.bloomberg.com/news/features/2022-04-22/can-you-be-addicted-to-crypto-trading-expensive-rehab-treatments-emerge

[DapanasFruit]

Actually, anything can be addictive including the sugar that we are taking in everyday in the foods and drinks we are taking in. Or it can be someone that we are obsessed with. Or it can be that unstoppable thirst for gossips in the neighborhood or in social media. Now, of course, cryptocurrency can be addicting too...that is why in life we have to learn the concept of moderation. Now, if I would be paying $90,000 just to reign on my crypto addiction, I better use that money to learn on crypto trading from a good mentor so I can be successful. By the way, I love that this story happened in Manila.

[Fundamentals Of]

Why is he even confessing his cryptocurrency activities to the priest? Are those sins? What is he expecting? That the priest would exorcise his crypto failures out of him? For all we know, the priest does not even understand a thing about crypto. The priest's question speaks about it.

If the man believes he is already in a state of addiction, he should probably seek help from a psychologist not a priest. The priest cannot solve his problem even if he'll be asked to pray 100 Our Fathers.

[Jawhead999]

In different perspective he was right if trading will destroy someone life because most of traders always loss, but if he trading with Bitcoin it wouldn't really destroying his life since Bitcoin is quite stable and not like shitcoin. Shitcoin or pump and dump coin have really high volatility, now Bitcoin's price -10% and many people were panic, take a look with so called decentralized Terra the price goes decrease -45%. If I bought Terra yesterday, I will feel headache to see my portfolio decrease almost 50% in a single day.

[jackg]

There seems to have been a lot of reports fairly recently of gambling addiction support lines receiving calls from day traders, this is probably something similar to that.

If you bought and held, you'd have half of your investment if you bought at the peak - which isn't too bad compared with a lot of stocks and other assets.

[GreatArkansas]

Why are other people always considering that using cryptocurrency or investing in cryptocurrency is gambling?
I really don't understand them. It is gambling for people if they don't know what they are doing or they are just relying on luck which is what gambling is.
Yes, there are already lot of people who already got bankrupt because of cryptocurrency but I can say it is different from gambling.

[GigaBit]

Why is he even confessing his cryptocurrency activities to the priest? Are those sins? What is he expecting? That the priest would exorcise his crypto failures out of him? For all we know, the priest does not even understand a thing about crypto. The priest's question speaks about it.

If the man believes he is already in a state of addiction, he should probably seek help from a psychologist not a priest. The priest cannot solve his problem even if he'll be asked to pray 100 Our Fathers.

Agree, Cryptocurrency and priesthood are two completely different things. What can a priest do if no one understands or is harmed for any reason especially in crypto space? What is needed to solve this is proper education which can give you proper solution. Driving car without knowing and joining crypto without understanding both are same where only result destroy.

[Davidvictorson]

Is it really possible to be addicted to cryptocurrency?

What is addiction? It is simply the uncontrollable urge to do or engage in an activity that could harm and cause other negative consequences. People who are addicted to cryptocurrency cannot control urge to buying or selling cryptocurrency. They are constantly trying to stay updated on price changes in bitcoin and other cryptocurrencies. They do this by constantly observing charts. And they spend their whole of their day reading crypto news or any other means of informing themselves of potential price action. There is simply an obsessive compulsion with cryptocurrency  such that it interferes with their activities of daily living or ability to adjust to and participate in relationships with their family, friends or colleagues at work. So yes it is possible to be addicted to cryptocurrency.

[avikz]

Is it really possible to be addicted to cryptocurrency? The idea is contentious, but it isn’t far-fetched — particularly to the lucrative addiction-treatment industry. From a $90,000-a-week Swiss clinic to relatively inexpensive teletherapies, crypto, of all things, has come to rehab.

If someone says that he/she isn't addicted to money, is probably lying or he/she has a million dollar in their bank account. Money is the solution to the 99% of the problems in the world and cryptocurrency is just money. Stupid people will always come up with stupid business ideas to find even stupider people as their customers. This is probably one prime example of auch stupidity.  Less than 10% of human population earns beyond 90k annually so it's a pure non-sense!

[worle1bm]

Investing and gambling are two different aspects and most of the time people mix it or use them in similar context which is wrong.In gambling you are placing bets with hope of winning but if you are not lucky you would not win but investing has lot of strategies and market research involved and you can have goals in them.But investment in shitcoins could be treated as gambling where you are trying your luck of winning but will loose mostly.

[Charles-Tim]

Investing and gambling are two different aspects and most of the time people mix it or use them in similar context which is wrong.In gambling you are placing bets with hope of winning but if you are not lucky you would not win but investing has lot of strategies and market research involved and you can have goals in them.But investment in shitcoins could be treated as gambling where you are trying your luck of winning but will loose mostly.

There are difference also between investing and trading, some people can also invest at the wrong time. Trading can be gambling, especially the beginners that just started to trade, they do not know what to do and how to avoid losses and make profit instead, but they trade in a way they lose all their money as they become addicted to it, addiction can be in trading while also people should not invest at the wrong time and wrong coin because it can be a maximum loss that might lead to panic sell. Do not forget that some people do not invest in bitcoin but altcoin which is most risky and can lead to loss, there are investment that are also gambling, which depends on the success of an altcoin which might be shitcoin andbecome dead.

[NotATether]

In any case, I am very skeptical because this article appears to be an advertisment paid for by the Swiss rehab mentioned for cryptoaddicts. Also, they charge $90,000 per week to the people who lost everything in crypto? What will they tell you to battle the addiction? Trade stocks and bonds?

That's a fraud. First of all they are charging an extraordinary amount for "rehabilation purposes" for people who supposedly have lost it all to trading, second of all, it's a paid advertisement so even the article is not trustworthy to use as information.

These kind of articles and services are planted by businessmen with a ravenous appetite of exploiting the helplessness of such people with no other support system to rely on and in any case just do it to make money off of their situation without actually helping them (except for maybe taking away their devices "to break your habit of trading crypto").

[Vaskiy]

The person might've not lost $90,000 out of trading. What it costs for the rehabilitation program is really funny. People makes use of the trend and now it is cryptocurrency. So, in one way or the other people can be used as a means of earning. When someone is frustrated of massive loss, these service providers will initiate that he's into addiction and suggest the rehab program. This is completely a fraud and for users who wants to a rehab for trading addiction can get free service if you're located in specific countries.

Addicted to crypto? Scotland has a dedicated clinic for you

[Dunamisx]

s it really possible to be addicted to cryptocurrency?

Very possible mate, anything that takes much of your time is an addiction to you, but i will like to categorize addiction into two basic class, "wrong and good addiction" if what takes your prescious time in cryptocurrency is really worth it, pays you, educate you, improves your knowledge, and be of help to you then it really worth it, the second one is if you only form nuisance around crypto circles, no one benefits from you and you neither benefited from what took your time in cryptocurrency, then i think its just a waste of time and energy.

[Nrcewker]

Why are other people always considering that using cryptocurrency or investing in cryptocurrency is gambling?
I really don't understand them. It is gambling for people if they don't know what they are doing or they are just relying on luck which is what gambling is.
Yes, there are already lot of people who already got bankrupt because of cryptocurrency but I can say it is different from gambling.

I guess many people consider investing in cryptos as a gamble because, Bitcoins are not legalised in many place.
So in that manner they sometimes misinterprets investing into cryptos as gambling.
Whereas if you see stock and forex trading or investing, those are regulated by the government, so it got positive response from the society.
The main thing, majority of the people missing here is that, they don’t know the capabilities of Bitcoins, they don’t know what advantages Bitcoin is giving us over Stock market and Gold.
Nevertheless really upset to see the bearish market of the coin, wishing for soon recovery in the market.

[jootn2kx]

Crypto could be labeled as "gambling" only by those who are either stupid or lazy to learn the craft of trading and investing. If someone is a gambler without any self-discipline, then crypto would "destroy his life" for sure. Trading crypto and predicting where the market flow is becoming easier with all those tools and data feeds available today. 

[GeorgeJohn]

Why are other people always considering that using cryptocurrency or investing in cryptocurrency is gambling?
I really don't understand them. It is gambling for people if they don't know what they are doing or they are just relying on luck which is what gambling is.
Yes, there are already lot of people who already got bankrupt because of cryptocurrency but I can say it is different from gambling.

This is the exact mentality of people who is novice in the cryptocurrency industry, even in my areas, when you are trying to educate people you think is learned of cryptocurrency, their thinking faculty goes directly to gambling. I think that instinct supposed to be eliminate to some of them. I dont actually know how bitcoin is been correlated with gambling from my own perspective.. cryptocurrency is used for exchanges of goods and services likewise the functions of fiat currencies across the continent.

[Anonylz]

It is a possibility since it involves feelings and emotion, when someone is emotionally involved when trading it can affect their mental health especially when the trade is more lose than win, the person will keep trying and hoping they will be successful in the next attempt and by doing this they get worked up emotionally, traumatized that can lead to bigger health issues. I don't think trading is for everyone.

[bbc.reporter]

Why is he even confessing his cryptocurrency activities to the priest? Are those sins? What is he expecting? That the priest would exorcise his crypto failures out of him? For all we know, the priest does not even understand a thing about crypto. The priest's question speaks about it.

If the man believes he is already in a state of addiction, he should probably seek help from a psychologist not a priest. The priest cannot solve his problem even if he'll be asked to pray 100 Our Fathers.

Yes but it was very funny the way it was written in the article. Are you gambling? And it was replied by it is crypto hehehehe. Have you tried memecoins and NFTs? Try it mr. priest. Rojas should have also asked the priest it is crypto, did you have to ask? hehehe. In any case, much of the people who might not admit they are gambling, are really gambling. This is only reality.

[pooya87]

There is always some traces of truth in most nonsense out there too. For example if we look fairly at the crypto world we can clearly see that some people are pretty much gambling specially those who are into altcoins and tokens. They are constantly making bets on shitcoins, they buy into NFTs that have no purpose whatsoever, ... just because they hope their "ticket" wins the big "jackpot". Considering the amount of money these people lose in their shitcoin trades, I think we can consider it a disease!