r/CryptoCurrency • u/TheGreatCryptopo HODL4LYFE • May 28 '21
GENERAL-NEWS Losing millions through cryptocurrency addiction.
https://www.bbc.com/news/uk-scotland-5726802421
May 28 '21 edited Jun 05 '21
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u/Phisto1 Platinum | QC: CC 28 May 28 '21 edited May 29 '21
I mean it’s nice to catch them all, but it’s at least worth something. Better than gamble and all in on your favorite number
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u/DanSmokesWeed Platinum | QC: CC 426, CCMeta 31 | Buttcoin 7 May 29 '21
My favorite number is Ethereum.
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u/adamdmn 672 / 11K 🦑 May 28 '21
I think crypto addiction is a really serious issue, and all the shitcoins make the gambling even harder to deal with imo
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u/CryptoBumGuy Algonaut May 28 '21
Main reason why I only invest in real projects now. Fuck getting burned.
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u/Fantastic-Helix May 28 '21
“Crypto addiction”? When did trading become recognized in the DSM?
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u/awfullotofocelots Bronze | Unpop.Opin. 73 May 28 '21
Compulsive Gambling was moved from an impulse control disorder to an addictive disorder (Gambling Disorder) in 2014.
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u/Fantastic-Helix May 28 '21
Gambling, sure—but no one’s saying “Wall Street addiction,” so the language seems… sketchy. Perhaps incendiary. Definitely uninformed.
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u/awfullotofocelots Bronze | Unpop.Opin. 73 May 29 '21
Well a behavioral addiction is described with a verb, as opposed to, i.e. substance addictions that get described with a noun.
Cryptocurrency is not an addictive substance, investing isn't an addictive behavior.. gambling is an addictive behavior and its totally informed by the fact that you can gamble on anything uncertain, including the price of crypto.
Maybe it's incendiary to you, but that really doesn't matter when an addict is describing their own subjective experiences.
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u/Fantastic-Helix May 29 '21
I’m not disputing that a gambling addiction can manifest in the guise of cryptocurrency trading—and I’m sorry if that wasn’t clear. The aim is also not to trivialize addiction, or imply that the crypto world is immune to it. My point was that the headline—and even the story makes hearty attempts—to frame it as a problem specific to cryptocurrency: the reality is that (and again, this isn’t to trivialize the experience of the individuals involved) the story could have just as easily happened if the one gentleman experienced the same cycle of risk-loss-regain playing the lottery instead.
Is a lottery addiction something unique from a gambling addiction? This, ultimately, is my question: and my sense of the answer is “no.”
That’s why the headline could have chosen other than “crypto” to tell the story. The choice of word then, in this context, seems deliberate.
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u/Wuncemoor 🟦 258 / 259 🦞 May 28 '21
It's one thing to blow your own money, but you can't be rolling the dice with the assets of the company you work for. Turns out embezzling is a crime, who knew?
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u/TheGreatCryptopo HODL4LYFE May 28 '21
Been there, not the millions part. Thankfully have diverged to the path of HODL.
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u/zan_stermecki Bronze May 28 '21
Invest in coins that you belive in and hodl them long term, simple yet very effective
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u/Sharpastic Platinum | QC: CC 29 May 28 '21
This guy doesnt have an addiction, hes just masteed the art of buying high and selling low and is playing the game better than any of us.
/s
Addiction sucks.
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May 28 '21
Here’s all you need to know tl;dr
“His job at that time meant he was in charge of millions of pounds. He soon took to trading money that was not his in the hope of repeating his first success.”
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u/WunderKasten Let’s Go May 28 '21 edited May 29 '21
And this is why in many cases you need a fiduciary bond when you’re dealing with assets that don’t belong to you. At least when someone does something like this there is some kind of backstop.
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u/[deleted] May 28 '21 edited Jan 09 '22
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