Topic: Bitcoin obsession! - page 4. (Read 760 times)

You are right, there is a difference between obsession and necessity.  Investing in Bitcoin can be an interesting choice, but it is important to consider diversification to mitigate the risks associated with its volatility.  Addiction to gambling and investing carries risks, so consider your financial decisions carefully.

Obsession is different from necessity. Ofcourse everyone has the drive to earn money but it would be another story if we would talk about obsession. Obsession means you'd do something no matter what circumstances you would face or encounter. On the other hand, it won't also be a good thing to be obsessed with Bitcoin. It is okay to have investments into it but diversification will still be more advisable. Bitcoin indeed has a higher market price volatility but that won't guarantee big profit already 'coz in line with its volatility issues, are instances wherein the market price would fall. Gambling addiction indeed is different with Bitcoin investment but both has risk, so you decide where to engage yourself with.

I’ve been involved with bitcoin close to a decade and I’ve met my fair share of people who are obsessed with it. But in the last decade I think the biggest obsession was that family who sold their house and all possessions and bought Bitcoin with it and were going to live in a RV or some camp.

This was in 2015 or so and I think they paid during the end of the bull market. So they must of endured some pain but if they held they would of been multi millionaires. If anyone know which family I am talking about and you know the outcome let me know. Wondering how they made it out.

If being obsessed with money is wrong then everyone in this world is wrong which is enough to prove that there is nothing wrong with being obsessed in making more money but what matters is how they make it. If they are making it via illegal ways by means of law then the person has to face the consequences of it but please can we get rid of comparing bitcoin with gambling and addiction cause it isn't a fair comparison at all?

So let's say being obsessed with Bitcoin is fine until the person is not doing any harm to them physically and mentally like not watching the price charts 24/7 which will make them anxious and further problems financially and health related. It's not bad as long as they are making it within legal and ethical boundaries, and one doesn't neglect other important aspects of life in the process.

Fiat is an old, useless thing from the past. Bitcoin is the future, and if you dont admit that its better, you're happy to be tied down to old banking systems. History is full of examples of societies that either embraced the new or fell behind. You can choose which side you want to be on in history.

In your rant about work-life balance, dont think that your short-sightedness makes you smart. Taking on a side job in your spare time? So, that's how you plan to avoid being average? While the sheep work their boring 9-to-5 jobs, you and people like you are just playing the same game in a slightly different way. Open your eyes; the grid is very big. If you keep looking through such a narrow lens, you wont be able to see the full range of possibilities. Just remember that other people have been where you are and seen the bigger picture.

I don't think selling all of your assets and invest in Bitcoin is torturing yourself, Bitcoin is a currency, similar like you has a lot fiat in banks.

In the current modern era, I always hear about work life balance where you're working from nine to five for five days, get paid well and having fun with your wage. But I don't feel happy only work for 5 days to earn a money that will not able to make me become rich, so I choose to use my free time to get a side job. Maybe some people will say it's workaholic and it's not good, but I'm more happy with my current situation, that mean you can't always think people are same like you.

Once called addiction, nothing is good, whether you are addicted to bitcoin or addicted to work is bad. why don't they call you bitcoin enthusiast, passionate about your work but they call you a bitcoin junkie, workaholic and neglecting everything else?  when you are addicted to investing in bitcoin, you will sell all your assets invested in it, you fast, torture yourself just because you want to save to invest bitcoin, so is it good?  you are confusing addiction with passion.

I think ever before someone even tries to go into any investment, he or she might have done proper research about what he is probably getting his or her hand into so you dont end up regretting. As for the use of Bitcoin as an investment purpose, well it's pretty clear we humans just love wear to get profits from and it's no new thing again about the possible profits one could enquire through Bitcoin investment.

I don't want to put obsession and addiction together. If you are obsessed with gambling it makes you an addict and leads to endless money losses and psychological breakdown. Because an underlying reason for this obsession is the desire and ambition to make excessive money. If your obsession with Bitcoin is based on an excessive desire to make money, I'm sorry to say that you will be in the loser's club. Because Bitcoin's price is highly volatile, many investors get caught up in momentary price changes.

Price fluctuations are normal but a healthier approach is to focus on the technology and its potential use rather than focusing on the price. If your obsession is with Blockchain technology and the Bitcoin philosophy you could be on your way to a life of prosperity in the not too distant future. What you obsess about determines your position.

Well if we like about bitcoin then having an obsession with it is not a problem. It can even make us compelled to learn more about bitcoin both technically and obsess about the potential profit in trading. There are two kinds of obsession here. Namely the obsession of being a developer in bitcoin and the obsession of being a bitcoin investor. I personally in this case may be included in the obsession of being a bitcoin investor or bitcoin holder. And this encourages me to also learn more about bitcoin even in terms of the system it adopts (decentralization).

At some points I just feel you want to confuse my little brain and at the end you still tagged it addiction🤣
Well I don't know how best to fill in on your thread but there is saying that show me your friends and I will tell you who you are and this saying only applies to your friends who commit crime because being friends will billionaires doesn't make you a millionaire automatically but being friends with an obvious criminal automatically makes you a criminal  as well and what I'm trying to say is that if you want to tag being conscious  of your holdings as addiction, then you're free to do so and not trying to paint it and giving it a more responsible name as obsession.

The truth is that investing in bitcoin  wouldn't be tagged addiction as there are minimal risk involved but trading with bitcoin  can be addictive especially  when chasing losses .

Excess of everything is not good for the healthy and the same thing goes for Bitcoin that's why BTC obsession is also not good because it may also cause a breakdown all work no play make Jack a dull boy) or misunderstanding if in a relationship.
It is good to be an enthusiast of Bitcoin there should be a limit to every. I once read that BTC obsession is the reason why the UK create a correction center for some cryptocurrency traders that are having problems with obsession.

Obsession isnt really that bad as long you dont find yourself crossing those fine lines when it comes to limitations because its not really that bad on looking yourself to be wary about various informations on which it would really be that helpful on being more knowledgeable which we know the more things we do know the better it would be. About owning Bitcoin then it would really be just that fine as long you arent really that compromising your life savings or emergency funds. Invest on what you can afford to lose and dont have that kind of impulsive on having that all-in investment approach towards it. Always set those limitations and
handling about your finances because if you arent really that good with it then you would definitely be finding yourself in great trouble.

I dont see for Bitcoin trading would be always resulting into huge losses, this is why we are really that thriving to become more better because we are aiming on having that profitable trades.
Losses are inevitable though but doesnt mean that it would really be just like this forever.There would be always that kind of change or progress on making yourself way more better and this is what we are
trying out to achieve on a particular time.So its better not to limit yourself about the potential but of course risks management would be always the key.

I prefer not to see it as a bitcoin obsession but a bitcoin enthusiast. First, because bitcoin is not overused, but rather it’s properly used as an investment more than a currency. And second, we are not only doing this for the sake of our own greed, but to promote the potentials of bitcoin as well. So perhaps bitcoin enthusiast is way more preferable to use rather than seeing as one’s obsession that anytime could cause mental breakdown.

That was a lengthy post for saying "Lets discuss on bitcoin obsession". It could have been shorter.

With bitcoin, there can be 2 types of obsession from my perspective which are trading bitcoin and the bitcoin technology.
Getting obsessed with bitcoin trading can have significant impact because over trading can cause huge losses which one should avoid.
Getting obsessed with bitcoin technology has no harm and will give us immense knowledge of the bitcoin technology.

Well! we need to consider that everything that is extravagant or extreme is not good and can cause huge problems in the future that's why we have some basic rules when investing in bitcoins we only use the money we can afford to lose because when we used too much and didn't go well, it will be hard to recover back again or sometimes we won't gonna get it back. This is the risk when investing in bitcoins and we should always know that we need to prevent ourselves from taking further steps that take us away from moderation.

You are right, having an excessive obsession with an item or an object is indeed very dangerous and this obsession must be eliminated as soon as possible. Because if the obsession is very excessive, it means that it has entered into a mental illness. So, as soon as possible, the feeling of obsession must be treated and immediately eliminated.
But I want to ask you, how about a feeling of obsession that is not too high or not excessive, is it still dangerous or not?
In my personal opinion, it is true that bitcoin can become an obsession for investors or for people who wish to buy and invest in bitcoin. Because, bitcoin is indeed a very tempting asset, especially if you look at the success of other people who have owned bitcoin since the price was still cheap and sold it when the price was already expensive like now. But in my personal opinion, having an obsession with bitcoin too, doesn't always end badly, but the point is we have to know the level of this obsession, whether the obsession is excessive or not. Because if you look at the initial journey of an investor in bitcoin, there must be something called a sense of obsession, more or less there will definitely be in every investor's mind. Because if taken simply, the meaning of the word obsession is a sense of attraction.

So in conclusion, having an obsession with bitcoin, if it's too much it will definitely have a bad impact, because if it's excessive it will definitely disturb the mind. But if the obsession is not excessive, in my opinion the obsession is not a problem, even the obsession (which is not excessive) can be used as a motivation or an encouragement.

If someone is obsessed with Bitcoin, is that wrong? And if someone is obsessed with having more Bitcoins by doing many things, what's wrong? I would instead be obsessed with Bitcoin than obsessed with gambling because I know what happens if I become more obsessed with Bitcoin.

I will only be able to have more Bitcoin in various ways. And before I can earn a lot of Bitcoins, maybe I won't stop and will keep trying. And I also don't mind if someone says I'm already addicted to Bitcoin because it's more profitable for me than me doing things that aren't useful.

Besides, I was obsessed with this Bitcoin only for a while until I could collect a lot of Bitcoin. If that's enough, I'll start something else but maybe it's still related to Bitcoin. So it depends on the obsession. If your obsession is wrong and not good, that is also bad.

First off, lets make one thing very clear: lumping hyperfocus and obsession together is a clear oversight! While hyperfocus denotes an intense concentration on a subject, obsession denotes an unhealthy fixation. The difference isnt just semantics!

Now, on to Bitcoin. You say you havent met people truly obsessed with Bitcoin to the point of it affecting their daily lives. Really? Open your eyes! I've witnessed countless individuals who incessantly check price fluctuations, engage in heated debates at inappropriate times, and prioritize their crypto activities over personal relationships. Such behavior is unhealthy and can have dire consequences for one's mental well-being.

Lastly, strong opinions about Bitcoin? Sure, people have those. But to brush aside the intensity with which some of these individuals hold their beliefs is naive. Its not just about having an opinion; its about the relentless fervor with which they back them up, sometimes at the expense of rationality. Wake up and smell the decentralization!

As an investor in bitcoin if you are always thinking about it, I wouldn't call that bitcoin obsession because you need to monitor and know more about how your investment is doing especially people that tend to hodli for long. The need to think of various strategy that they can accumulate more bitcoin irrespective of the market price of bitcoin. The fact remains that if you are a business man you will always have about how to make your business grow and look for various means and advice to be successful in that business. Likewise bitcoin, it is where your money is that you mind will always be most times. Bitcoin is an assest and gambling is not,this are two different thing entirely and one can't get addicted to bitcoin and if he does he will be a fucking rich dude because addiction makes you to always put money into something.