Are you addicted?

Came across this headline today:

Hospital launches rehab clinic to treat cryptocurrency addiction

Seems a little bit extreme and blown out of proportion at first glance. There are probably better methods to deal with your problems. However, cryptocurrency addiction is very real and much like any other addiction.

As the article does, you could liken speculative trading to gambling. Almost anything that involves large sums of money and huge emotional swings is prone to addictive behaviors. Sometimes we need to take a step back and objectively assess whether our habits are healthy and leading us in the right direction.

Do you know anyone who could use this rehab program? 😁

Adiction is something that's much harder to recognise in ourselves than in others. If the behaviour is interferring with your life, your responsibilities, your relationships, or your health, then it is likely bad for you. If you recognise this, but cannot stop the behaviour that is harming you, act like you know it is an adiction, even if you're not sure.

I imagine an addiction to trading is harder to break because of the fear that stopping will cause losses. And it is hard to put a dollar value on health, relationships, and other things that really matter. But stepping back and trying to be objective by writing down how much a break from it is likely to cost, and keeping track of that figure over time might help.

And as many in the industry advise, this is a high risk market, so never invest more than you can afford to lose.

@AfriDylan I don't see it as out of the line at all. Addiction can occur in a myriad of ways and I try not to look at addiction as a personal failing. I tend to classify addiction or addictive behavior as a consequence of environment and individual reality. If a person cannot handle their involvement in blockchain and crypto safely, they need all the help they can get.

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