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.

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.


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.

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.

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.

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.

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.

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.

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

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 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.


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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

Humans can never be fully contented
Greed per say but not addiction.
If you have a thousand BTC
Would you miss out on an opportunity to have an additional 1?
I doubt that.
Keep holding and keep accumulating
One can't get too rich.
But don't forget why you holding though
Enjoying life with your profits matters.

Firstly, op let me help you rephrase your topic ; "continue Hodling?"
Now hodling Bitcoin is not some kind of gambling scheme where we talk about greed or addiction.
 We simply say invest what you can afford to lose. This because although Bitcoin can be trusted from it's trail over the years, it still is a cryptocurrency therefore, we must still maintain caution when investing.

Secondly instead of say "Addiction" I would rather say FOMO when referring to Bitcoin.

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?