Topic: Bitcoin - Contentment / Addiction (Read 398 times)

I think it’s a wrong use of word or analogy here.

Wealth doesn’t bring about contentment and that is the case with Bitcoin as well. It doesn’t really matter how much Bitcoin you accumulate over a period of time or how much Bitcoin that is in your possession, it’s just never enough to stop accumulating. Wealth is something you build through a lifetime so long as you’ve got the strength and understanding to keep up with the accumulation.

When you just can’t continue, you can sort out for retirement from hassles of accumulation of Bitcoin or wealth.
It’s not addiction to make money, it’s not a bad habits. Addiction generally is linked to habits that are uncultured or disruptive to individual and societal stability.

   I don't think getting more Btc should be related to one's contentment /Addiction because we are talking of getting more Bitcoin, which in return, turns out to be money which means them person is hard working and so one does not get contented with money because you are still alive, and to meet your daily needs you need money which is the reason why you are in this forum . As,long as we are in this forum we keep on working towards getting and accumulating more Bitcoin. One never gets tired of riches and wealth

Whatever you decide to call the person who has reached the point where the person does not stop buying and continues to accumulate more bitcoin is fine. What better feeling than seeing yourself addicted to buying more bitcoin? It is without a doubt the best, and I will not regret being in that situation if I ever have the means.

Bitcoin has proven to be a reliable asset, but the high cost and some literacy level required to operate it have made many people hesitant to hold any. There is no limit to how many bitcoin you should accumulate; if you have enough money to invest in a business, you will most likely do so because of the potential of the business in the future; the same is true for bitcoin.

I don't think it's accurate to say that investing in Bitcoin is an addiction, many people accumulate Bitcoin using the DCA method for purposes such as storing assets or hedging because saving in the bank means there is no profit to be made from it, instead the value of the money decreases.

So it is not right if someone becomes addicted when investing in Bitcoin, even rich people still want to increase their wealth by investing, satisfaction exists when we invest using cold funds. Maybe more precisely it is not an addiction but investing in bitcoin irresponsibly, especially if they force themselves too hard to buy bitcoin using the dca method from emergency funds, so that when something undesirable happens they are forced to sell bitcoin which turns out at that time bitcoin is going down in the end resulting in losses.

People think once you commit in cryptocurrency you must at least have a BTC but no just a portion of it is just enough with your dream as starting point.


Both strategies are ideal, if you have extra money why not take those for your investment, and also have a budget when the market dips, like currently the Bitcoin ETF another possible decline that the market price of the BTC drop again with the testing or support range of 30k. If you strive to invest manage your risk not all the time green days with the market.

Human needs are insatiable, so the more you aquire the more needs that will arise, so inasmuch as we're alive, we'll always want to accumulate wealth, if for nothing else, just for the fear of the unknown. Although I think that Bitcoin accumulation can only be called addiction if a holder will neglect very important financial needs that arises and still goes ahead to buy Bitcoin, with money that could be used to solve the problem, or if the holder will not take care of their financial responsibilities because they want to continue accumulating. But if a holder can meet basic financial obligations and decides to be putting certain percentage of their income into accumulating Bitcoin for the future, then it can be classified as contentment, although it's important to work out a long term time frame on how to use or enjoy the accumulated ROI.

i don't think that the word"addiction" has a place in anything call investment. Addiction is majorly applicable in cases where you are uncontrollably performing an act that has the tendency of ruing you in the future.

The amount of Bitcoin you açcumilate is basically dependent on your reserve funds and Its just like saving a particular portion of your money in the first bank, would you term thatt to be addicive?

If you are contented on what you have then the possible profit you can get is limited that's why its really more better to acquire as lot as you can since this gives us more positive result.

And can't call it as addiction since it can benefit us well especially if from this we can earn a huge profits so this is good hobby or activity that we can participate since we can get good result at the end of the day.

Becoming an owner of some volume is really a sweet achievement since its like we have share of its future growth and we can do a lot of it but we need to do good decision making to make it grow. But its important for us to know what we can afford for since if we can do DCA then fine as long as we are earning a profit but if we are into hodl then for sure lots of things we experience and also for sure its more rewarding than any other strategy to use.

Man has no contentment in nature. Most particularly when it involves with money, the more a person will keep its motivation to keep going. Frankly speaking, it’s better to get addicted with bitcoin investment rather than seeing yourself addicted with gambling. At least if you are addicted to bitcoin, you will always find means to invest in bitcoin, even if it means losing at first.

However, over addiction is also not a good thing as it may bring mental and emotional damage in you. Just invest on the amount you can afford to lose, if you lose that would be okay, just invest gain when you gain spare money to invest.

None of what you said are enough reasons to make a human satisfied with what they have because a human can barely be satisfied with money no matter how much it is. You can't find a lot of people in the world who are completely satisfied with what they have and aren't striving to get more. Even the rich, the ultra-rich, and the billionaires are still working to increase their wealth and earn more money because it's human nature, we never get satisfied.

When we talk about Bitcoin, Bitcoin is another form of money and wealth, and it's no exception to human nature. So when you have a specific amount of Bitcoin, you will still strive to have more because you would want to have as many as possible, you will never say no to more when it comes to money.

Addiction is not the right word here, because owning Bitcoin is a passive process. But it certainly possible to have an unhealthy obsession with Bitcoin, just like you can have one with anything in this world. Basically, if you or people around notice that your Bitcoin activity is negatively impacting your life and your relationships, that's a warning that you might need to rethink your choices.

According to me. There is no satisfaction in owning Bitcoin as long as you can buy it using money that has been allocated for investment, not money for daily needs. Achieving satisfaction with bitcoin is of course when we have bought bitcoin in large quantities by buying at the time of the dip.
When it comes to satisfaction, it actually depends on the person, because for me the satisfaction of people who buy Bitcoin is when they buy it with money they are prepared to lose. Doing dca on bitcoin continuously is not an addiction, because in my opinion what is called bitcoin addiction is when we cannot control the purchase of bitcoin, even by going into debt and selling other assets just for bitcoin, in other words we force ourselves to own bitcoin.

Elon Musk, the world's richest man, can't say he has acquired enough wealth. Musk is still acquiring more. Man is insatiable by nature. We keep acquiring. By the way, many of us here may not even have up to ½ a Bitcoin though we've been accumulating for years. What's the percentage of those who have up to a single Bitcoin (I know statistics will be there for it), I'm just thinking aloud. Everyone who has so many cars or houses first desired and hoped for just one. Then one came, they desired more and the circle continued. I can wish for just two BTC but trust me I won't relent at that once I've it. The idea of trading and increasing it will step in.

As long as there's an opportunity to buy and I still have the means to support my essential needs, then I won't be hindered from buying more bitcoins because I'm aiming for the future and I don't want to listen to anybody in terms of my investment because I already know what to do. This is only possible if you have been learning all these years about how to be a successful investor and at the same time you know how to protect your crypto assets against scammers and hackers and others who are pretenders offering you huge returns but it's not true. Therefore, before you engage in any investment whether bitcoins or altcoins, you should be equipped with enough knowledge first.

For me, it boils down to getting bitcoins as long as I can still afford to buy bitcoins with cold hard cash or ready money if I lose them. During that time, I will collect as many bitcoins as possible. Of course, pursuing satisfaction is difficult, because humans find it difficult to feel satisfaction, only we can develop it with income alone.

If he buys bitcoin with debt proceeds or uses money for daily necessities and sells possessions just to buy bitcoin, this is an addicted person and this is certainly not good, and you need to change this mindset. For me, being addicted to Bitcoin is someone who doesn't think well anymore.

We are humans, are we never get contented no matter how much we get. Our desires and wishes are endless because we might wish to get something and say that we want nothing but just that thing, but once we get it, we start wishing for something better than it. This never ends, especially if it's about money or something valuable. A person who has a lot of wealth and is ultra-rich, do you think they stop earning money? No, they still strive to get and have more.

So, Bitcoin is money in the actual sense, because you can exchange it to your local currency or even use it to buy goods and services where it's accepted. That's why, one would never be contented with the amount of Bitcoin they have accumulated so far and they will always try to get as much as they can.

Every individual have their own personal target , just like in savings we save money based on what is being earned and what one can afford,  you can't do more than your financial capability, same thing goes in accumulating bitcoin.  Their is nothing like addiction when it comes to accumulating bitcoin for investment. Investing is very important in everyone's life.

People just need to accumulate what they can afford, but when it has gotten to the point of accumulating by all means and nothing is left to solve emergency issues then it is a wrong way of investing in bitcoin.

"Human want are insatiable "according to economist
The more we grow the more we want to acquire wealth and never get tired until we are dead. Just as the richest man on earth Elon musk  is never tired of making money so do the common man will not be either satisfied. Just like the forum has each stages and ranks, so do people strive to meet up new heights and ranks in other for people to see the result of there efforts. Even the legendary member are still thinking of going higher if it were possible for new rank update, I think some people in this forum whom have received 10k merit above like @fillipone @thymos @ DdmrDdmr @retimov and many others would be in another position but still in legendary but only higher in merits. So the quest for money has never been a relentless thing, for with it one can not make pose of anything.

Note: the moment you chose not to continue, the demand of your responsibility becomes high and your supply become low. you are definitely loosing because responsibility will keep compiling for you. And that will definitely becomes your downfall.

To keep holding Bitcoin and keep adding accumulation of our Bitcoin will not mean that we are getting addiction on it. This is not an addiction, but rather a path that we take based on realistic and measurable considerations and thoughts, namely an investment in Bitcoin. And when the city invests in something that we think is worthy, then we will do it as best and optimally as possible, according to the amount we can afford. And it's not a matter of satisfaction and then at some point we feel satisfied and stop investing. I don't think it's like that. As long as we are still buying and investing, do it, but if you no longer have the money to invest, stop first, don't force it. and the extent to which you will keep holding the Bitcoin will also depend on your target in taking profits. Is it just for the time being bullish in the coming era to take profits and then accumulate Bitcoin again when it is bearish, or do you keep holding it for an indefinite period of time. This is an individual preference based on each person's particular considerations.

Some people do set targets for themselves, once the target has been reached, they will stop accumulating bitcoin and focus on other things. I know there is always joy in accumulating bitcoin, and you will always want to keep on accumulating more bitcoin, but you shouldn't leave everything you have in bitcoin. Don't invest everything you have in bitcoin, always invest any amount you can afford to lose. If you reached your limit, always divert your funds to other things, then maybe when you keep on growing, then you can set another target for your self, then you can add up to your bitcoin.

Seriously, there is always joy in accumulating bitcoin. Sometimes, when I am feeling bad, and i open my wallet and see my bitcoin. I do feel happy seeing my bitcoin. Everybody will always want to keep on accumulating bitcoin, but that doesn't mean all your investment should be in bitcoin alone. We should invest in other things outside of the crypto space, don't leave everything in crypto. It's surprising that some people do sell their properties just to invest in bitcoin, I don't really go with ideas like that.

The only time I personally can be content with the amount of bitcoin I hold is when my target has been hit. If I have a target and it's hit immediately, I will be satisfied with the amount of bitcoin I hold because I know I can't get all the bitcoin.