Bitcoin - Contentment / Addiction - page 2.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

At what degree of Bitcoin accumulation is one said to be contented, if keep wanting can it be termed addiction

Just so you know, Microstrategy was announced some hour ago to have bought additional 14,620 btc and you are asking about satisfaction? Institutional investors are talking all tbe bitcoin away and you are here asking addiction and that? You should fight to have some under your seed phrase to avoid been left out because the accumulation is not ending soon until they get their hands on all the bitcoin and be the supreme power.

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Becoming a Bitcoin owner is one of the sweetest achievements a person will want.
In other to purchase this Bitcoin it is either we deploy strategies in getting it, might be by Dcaing or buying wholesomely from the DIP.

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

Bitcoin is not gambling, so please remove addiction from your statement.
You are asking about contentment of bitcoin but I want to direct the question back to you, is there anything like contentment in investment? Have you ever seen a rich man that says " cut this shit, I'm done. I'm okay with what I have had"? Have you seen such before. If today I have 1 complete bitcoin and tomorrow, I get an additional 50, I will be so happy and if I get more next year, I will forever be greatful because there is nothing as contentment with bitcoin, the struggle is continues process.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

Do you wonder why some of the richest individuals in the world are still accumulating wealth? You see them diversifying income to different areas they perceive will give them more profit. I see Bitcoin as a very good area to invest in because it will continue to be profitable due to its limited supply. I think everybody has personal plans for Bitcoin and they also have a level they want to acquire for a certain period.

Quote from: Jegileman on December 27, 2023, 12:00:27 PM

If I can be addicted to buying bitcoin that will be the greatest feeling I will ever felt in my life. When you’re addicted to something that is good and you like it, it should be called passion to me because you’re in love with it and will do everything to have it. There shouldn’t be a limit to what bitcoin someone should purchase because the investment will keep growing and your chances of getting profit will keep increasing. If it was a risky investment, then a limit should be set for it but since it is bitcoin, more accumulation should be encouraged as long as you can afford it.

I think this a good addiction because many people are used to spending money on irrelevant things. As long as my investment is not affecting the money I need to provide for the needs of my family, then I can keep gathering my SATs gradually. I don't think I have a limit for now because I am motivated to gather as much as I can.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

If I can be addicted to buying bitcoin that will be the greatest feeling I will ever felt in my life. When you’re addicted to something that is good and you like, it should be called passion to me because you’re in love with it and will do everything to have it. There shouldn’t be a limit to what bitcoin someone should purchase because the investment will keep growing and your chances of getting profit will keep increasing. If it was a risky investment, then a limit should be set for it but since it is bitcoin, more accumulation should be encouraged as long as you can afford it.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

At what degree of Bitcoin accumulation is one said to be contented, if keep wanting can it be termed addiction

Becoming a Bitcoin owner is one of the sweetest achievements a person will want.
In other to purchase this Bitcoin it is either we deploy strategies in getting it, might be by Dcaing or buying wholesomely from the DIP.

I don’t see the downside of being “addicted” to Bitcoin because it’s for investment purposes. I’m not sure either if addiction is the right term rather than being greedy on accumulating.

It’s an investment which means you should not set limit for your future gains. The only time you should set limit is if you are already all-in investments without money left for your daily needs or emergency funds but for an accumulation purposes then having no target amount won’t harm but rather beneficial in the future.

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The desire to have more money can never be satisfied as long as we are humans. I want $1000 today and tomorrow, you want $10000 and so on. This is the reason why an investor sets his target and after he has achieved it, he still want to increase his bitcoin portfolio from the initial target.

I wouldn't call it addiction because addiction destroys but I will call it passion to increase your bitcoin portfolio. It is only when you get to that fu*k you status level that you can be able to stop accumulating, and to get to that level, it can take 20yrs-50yrs based on how aggressively you accumulated it.

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Someone will not feel satisfied even if they already have a lot of bitcoin. He definitely wants to have more bitcoins and he is trying to buy more.
If he has used the DCA method, he will continue to collect more bitcoins. He will not buy it just by waiting for the dip because it is difficult to find it.
Maybe he has become addicted to buying bitcoins because all he can think about is collecting more bitcoins.
And it's better than gambling addiction Grin

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Quote from: Callido on December 26, 2023, 02:40:33 PM

Becoming a Bitcoin owner is one of the sweetest achievements a person will want.

I don't know why 98% of people in the world don't want to own Bitcoin - maybe they don't realize how "sweet feeling" it is Roll Eyes

There is nothing wrong with being fascinated with Bitcoin, but there are much more important things in life that give a person much greater satisfaction.

Quote from: Callido on December 26, 2023, 02:40:33 PM

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

It all depends on the person, but I think that most always set a new goal when they reach the previous one - and now we can discuss whether it is about new challenges or just greed.

Addiction is very easy to define, you just have to ask yourself the question "can I wake up tomorrow and not smoke a cigarette or drink a glass of beer?" Anyone who can't do that is an addict, and it's the same thing with Bitcoin, which for some has a much bigger meaning than it should.

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Addictions are usually construed as harmful...can buying Bitcoin excessively really classify as an addiction?

An addiction is usually something that can cause harm, that is negative, or a habit that has become obsessive (which I suppose, can be negative, neutral or positive). With Bitcoin, it is very hard to harm yourself from a "buying addiction", as at the end of the day if you do find yourself in financial distress from buying too much Bitcoin, you can simply sell some to fix this financial stress.

I do wonder if anyone is truly addicted to buying Bitcoin, to the point where they put themselves through severe distress in order to acquire it. I am sure this experience would be a rewarding one though, in the long-term.

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Change the mindset of "Contentment/Addiction" with "Gratitude"

I have also had many different experiences in life at different levels, and it boils down to what I find to be "gratitude", even with the challenges of holding bitcoins and even losing. Losing money due to not managing assets, I also see that the fault lies more with myself and not with blaming and promoting personal ego.

Through bitcoin as well as this forum, I have received many lessons that in life pass without me acknowledging them. Maybe each individual's life perspective and state of reception are not the same, but there comes a point at time when we have learned enough for us to see the meaning in life and give "gratitude" to everything that is happening.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

At what degree of Bitcoin accumulation is one said to be contented, if keep wanting can it be termed addiction

Humans are greedy, when you have a lot of bitcoins in your pocket, but according to others it is more than enough then the level of satisfaction depends on each individual.

You can also continue to accumulate if your finances are still stable all the time and let it continue until you stop and see how much total you get during accumulation, regarding addiction in investment then it is more beneficial than others.

Quote from: Callido on December 26, 2023, 02:40:33 PM

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

Then you have to set a target then you will know your level of satisfaction, for example my level of satisfaction is having 1 BTC, while other people are more than that if you want to continue to urgently acquire bitcoin then you want a bigger profit not addiction anymore.

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I think we all gotta set goals we can actually reach when it comes to investing, whether it's Bitcoin or some traditional forms. Going overboard with unrealistic expectations will just bum you out and stress you to the max. Not to mention, it makes you more likely to make some impulsive choice that'll hurt your money situation.

What you gotta do is come up with goals that line up with what you can reasonably pull off. Maybe your goal is setting aside a set chunk of cash every month to score some more Bitcoin. Or maybe you just wanna increase how much Bitcoin you own bit by bit each year... either way, keep it achievable.

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Ask yourself, OP, what would you like to receive? Then, after receiving it, you will definitely want something else. And this feeling of desire will support you constantly. The path to a dream is always interesting. When a dream comes true, we create a new one. If we transfer your question to Bitcoin, then it is unlikely that holding it and hoarding it will be an addiction. This is a normal property for people. Unless, of course, you go crazy and don’t deprive yourself of all the colors of life, saving on everything while at the same time buying Bitcoin. Normal investments involve a sober calculation of the amount of money that can be set aside.
And the amount itself is unlikely to be an anchor for that person who knows how to invest correctly.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

At what degree of Bitcoin accumulation is one said to be contented, if keep wanting can it be termed addiction

Becoming a Bitcoin owner is one of the sweetest achievements a person will want.
In other to purchase this Bitcoin it is either we deploy strategies in getting it, might be by Dcaing or buying wholesomely from the DIP.

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

It should vary from person to person. I don't know how wealthy you are. You don't know about me. 0.1 Bitcoin could be significant for someone but one Bitcoin is nothing for a company like Microstrategy. Imagine you have two friends one of them is rich and another one belongs to a middle-class family. His yearly income is less than 5K USD. Now, If your middle-class family friend has 5000 worth of Bitcoin, he may think it's enough for me. But it is nothing for your rich friend. Because he may earn 5000 USD every day!

So, it should depend on who you are, and how wealthy you are. To be honest, my 90 percent savings on Bitcoin and altcoins at this moment and I don't consider myself as Bitcoin or crypto addicted.Because I have the opportunity to sell then anytime I want. so, holding Bitcoin or having money is the same. At least I consider it as same. So, I won't say there are any levels where we can say someone is addicted.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

Well thats kinda differ each person. For me I think if I able to pull of a 100bitcoin asset that would be enough for me to say that I am contended enough. Well thats a huge margin but its always nice to have a goal though 1bitcoin is even hard to earn if you arent gonna work for that. Maybe from buying or tradinh alts and converting into bitcoin, anyways its really gonna make you motivated once you see fruitful of your hard work and dedication.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

I'm not sure about this, but when you look at investors who like investing (not just in Bitcoin), they see investment assets as an opportunity. and when there is an opportunity and they have the ability, investors will continue to increase their investment.
Investment addiction, I don't see that as a bad thing. But maybe this feeling is experienced by novice investors who, when they have spare money, always want to increase their investment assets.
if that kind of thing is called addiction, I don't think it's something bad. while addiction is more defined as something excessive that has a negative impact.

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I think that it can be an addiction if it's not giving you the benefit and it's just doing bad things to you. If accumulating Bitcoin is giving you the addictive vibes but you know that there's a good reward someday, I wouldn't call it addiction.

I guess this is more than just a hobby and although there's similarity on gambling. This time, it's no longer a gamble that when you accumulate more Bitcoins and you get more engaged on it.

On the early days, it's more of a gamble when there's no certain result will happen and the rewards were unknown.

Quote from: Callido on December 26, 2023, 02:40:33 PM

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

Just set a target like how many Bitcoins you want to achieve and collect.

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How much Bitcoin should I own? Good question. Ain't no right or wrong amount, just whatever you're comfy with. Some folks only want a lil' bit to play around with. Others wanna load up - maybe dreaming of cashing out big one day. Me, I try not to go overboard chasin them sick gains and cause it can turn into an obsession.

So decide what works for you. Don't let BTC rule your life! Other things matter too.

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Humans are not content with what they have, so wanting more is normal, but the question is, how much more will you keep wanting? Is it till eternity? And what do you intend to do with all the accumulation?. As Upgrade00 has said, it's based on personal views. I can want a stash of 50 BTC, and you want a 1k stash. Just as it's said in my home, "Every mallam has his own kettle," it all depends on you, bro.

Calling wanting more addiction doesn't seem proper to me because humans are naturally made to want more. If not all, the billionaires should have stopped making money and enjoyed the ones they already made, so the phrase wanting more is just normal.

I will only suggest that you should hold what you want and be comfortable with.

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Quote from: Callido on December 26, 2023, 02:40:33 PM

At what degree of Bitcoin accumulation is one said to be contented, if keep wanting can it be termed addiction

Becoming a Bitcoin owner is one of the sweetest achievements a person will want.
In other to purchase this Bitcoin it is either we deploy strategies in getting it, might be by Dcaing or buying wholesomely from the DIP.

I want to know if their is any point at which a person can say I have reach and get contented in owning Bitcoin? A point where the person lacks Contentment and keep on pressing to acquire more Bitcoin is It said as being addicted?

There's no such term as contentment for every human being that the mindset is always in search for better life's options and opportunities. Although one can be contented for just a short period of time but eventually, after that it will come to search for another. Just like myself, as much as I have the potentials to keep accumulation going, then I won't stop. One will only see me stop when I've got no funds anymore to accumulate more, or maybe if I'd stop from breathing already.

For now, my goal is to only have few bitcoins since the process is really not easy. But I really think when I get there, then I'll continue to accumulate more. I know it's not being addicted because it's certainly not an abuse, but I'm just preparing for a brighter future for me and my family.

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There is not determined point of contentment, it's all down to personal views.

I will recommend holding not more than 20% of your entire wealth to keep it balance. Although based on your risk tolerance you can choose to put some more percentage into it.

Topic: Bitcoin - Contentment / Addiction - page 2. (Read 300 times)