Investing Addiction. - page 10. | Bitcointalksearch.org

Fiatless

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Quote from: Stepstowealth on April 26, 2023, 04:27:30 AM

This discussion is not about gambling, it is about investing, but I will use gamblers to make an example.

Using gamblers as an example who start out with just the intention to have fun maybe and then along the line turn into addicted gamblers that gambling begin to affect other areas of their life like their wellbeing like they stop spending on some important things just so they can make money available for gambling. Now talking about investing, I think it is possible to become addicted to investing so much that it begins to affect your wellbeing, like the person stops spending on other important things like good food, good clothes etc. just so they can have more money to invest? Do you consider that kind of addiction dangerous and not good?

If there is anything like investment addiction, then I want to be addicted. I want to always reduce wasteful spending and focus on investing. If I can cover the essential things I need in life such as food, shelter, clothing, education, health care, and others, the extra money should be channeled into investment. You don't need to starve or deprive yourself of basic needs because you want to invest. But you can deprive yourself of luxury because of your investment plans. If it is possible not to touch all my campaign income and hold them in bitcoin, I will be very fulfilled. If I am fortunate I can make some good profit that can help me afford some luxury.

Gambling is not bad if it is done modestly and doesn't affect the finance and family of the gambler negatively. But it is far better to invest extra funds in other investment platforms than to risk it in gambling.

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Quote from: Stepstowealth on April 26, 2023, 04:27:30 AM

Now talking about investing, I think it is possible to become addicted to investing so much that it begins to affect your wellbeing, like the person stops spending on other important things like good food, good clothes etc. just so they can have more money to invest? Do you consider that kind of addiction dangerous and not good?

Depriving yourself of basic essentials like good food and stuff so much that it affects your well-being is counterproductive. What's the use of investing if you'll get sick before you can fully enjoy the fruit of your efforts lol.

A lot of people forget that we can invest in ourselves as well. For instance, if you try to keep your mind and body healthy, the chances of getting sick and paying ridiculous medical fees wouldn't be high.

MarjorieZimmermanGinger

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Quote from: Stepstowealth on April 26, 2023, 04:27:30 AM

Using gamblers as an example who start out with just the intention to have fun maybe and then along the line turn into addicted gamblers that gambling begin to affect other areas of their life like their wellbeing like they stop spending on some important things just so they can make money available for gambling.

That reason people should avoid gambling and if they are unable to avoid addiction in the future. Gambling will make you interested in continuing to try because of curiosity and many addicted gamblers that end tragically losing all the property they have. Gambling for fun is another part of gambling addiction and both will end the same when someone is unable to control, even though there are currently many gambling that are easier to reach by anyone.

Quote from: Stepstowealth on April 26, 2023, 04:27:30 AM

Now talking about investing, I think it is possible to become addicted to investing so much that it begins to affect your wellbeing, like the person stops spending on other important things like good food, good clothes etc. just so they can have more money to invest? Do you consider that kind of addiction dangerous and not good?

Addiction in investing is far more relevant and the reason is clear to increase the level of financial improvement, as long as you learn the basic things in every investment you run. For me it's not about addiction in investing, but one must be ready in the decisions taken in an investment and most importantly everyone can adjust and not push themselves in amounts that are not ready to lose.

When investment experience is getting better people can try to increase the amount slightly greater and it will continue to be improved in accordance with the ability in our investment journey. For me investment addiction is not a problem, as long as it can be adjusted to the capabilities of the capital owned.

bitzizzix

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Addiction to investing is indeed good if done correctly, not to harm yourself, let alone make your family miserable.
and addicted to investing with discipline in doing so and consistently with the money that has been provided even in small amounts on a regular basis and not using that money for very important needs, especially for the need to eat healthy food. Because healthy food is very important for a healthy life and also for survival so that activities carried out such as investments and so on go well.
and I don't think you need to be addicted to investing money, and I think we need to have the right approach. Discipline, consistency and patience is something you should have and once you are disciplined in spending, saving and investing it will automatically become a part of your life and start small first.

Sayeds56

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Investing in appreciating assets like Bitcoin is a good addition. It is a wise decision to invest in assets those can potentially yield better returns in future with relatively low risk. It can be a wise decision and may have positive impact on your life in the long term. Investing should never be confused with gambling which is associated with high risk, and odds are often stacked against the players. While investing is a long term approach which involves discipline and intensive research and likelihood of achieving success is quite favorable.

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It's true that one can be addicted to investing because it's not different form all those things that excite our mind. Investing like any other thing can be the cause of addiction in a human if he/she gains monetary benefits from it. There are thousands of such investors who can't live a day of their life without investing in good things.

Some investors in crypto world have invested in Bitcoin since its early days and are still holding their investment. Some other investors are interested in investing their money into newly released altcoins, because many of those investors believe that the altcoins will 10X their capital.

It's just the addiction and nothing else, in real life those investors are loosing the money in those newly coins and are still investing in such projects. Their addiction makes them to accumulate as many of those newly released coins as their financial condition allows them. And, they dream of becoming rich with such non sense coins that are basically rug-pulls.

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Quote from: mindrust on April 26, 2023, 05:05:52 AM

I think that's one of the good addictions a people can have. The other examples would be reading books, studying math, learning new languages etc... It is much better to get addicted to investing instead of spending your money on the worthless crap, At least your addiction is about making even more money your assets will make you rich in the future. Tbh I am one of those addicts and I couldn't be happier about it. I invest and in return my investments make me even more money so I can invest even more. win^win

No such thing as good addiction, an activity becomes an addiction when it hinders your function, your obligations and your living and if investing does this to you then nothing good will come out of it. How you spend your money is subjective imo, a book might be a worthless crap to you or someone but for the person that has bought it, it might be a life changing purchase.

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I get your point Op, to me I don't see such people truly meant for investment rather being stingy of their lives. I have a neighbor in my compound who always saves ^{(We can consider such as an investment)} thinking they are spending much whereby is telling on them that they aren't feeding fine and living good life and putting on good clothes. I tried having a little conversation with them as to know why they put up this savings method, what they said is that, they have a lot of things to do with money and they need to get their own personal property and moved out from a rented appartment to their personal building.
Actually when I came to think about it I noticed their reasons were genuine. But in my conclusion what if making those investment and they ran sick won't those investment be altered, they said depending on the severe level of the illness then they may decides to temper with such investment (savings).

mindrust

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I think that's one of the good addictions a people can have. The other examples would be reading books, studying math, learning new languages etc... It is much better to get addicted to investing instead of spending your money on the worthless crap, At least your addiction is about making even more money your assets will make you rich in the future. Tbh I am one of those addicts and I couldn't be happier about it. I invest and in return my investments make me even more money so I can invest even more. win^win

Zaguru12

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Quote from: Stepstowealth on April 26, 2023, 04:27:30 AM

Do you consider that kind of addiction dangerous and not good?

Every form of addiction is bad because it affects the human brain. We can all try to differentiate it from all those casino gambling but it is all the same because the aim is to earn more profits and when that is achieved it creates happiness or joy which is transmitted to the brain then when a loss happens it creates sadness and this things are actually bad for one’s health.

If a loss persists the addicted trader goes on to take loans or sell off properties, and deprives themselves of some necessities which would affect there health just to invest more. This is clearly similar to the sport and casino gambling and so it is very bad

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Quote from: Stepstowealth on April 26, 2023, 04:27:30 AM

I think it is possible to become addicted to investing so much that it begins to affect your wellbeing, like the person stops spending on other important things like good food, good clothes etc. just so they can have more money to invest? Do you consider that kind of addiction dangerous and not good?

I think you're refer good food to healthy food, healthy good is a must!

You must eat high portion of vegetable with some carbohydrate and protein to make you feel full.

For good clothes and other unnecessary spending are subjective, someone who have a frugal lifestyle will not care with it. But most people want to buy good clothes to make them happy aka self reward.

Don't forget to mention about medical or health spending, that's important like good food.

Stepstowealth

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This discussion is not about gambling, it is about investing, but I will use gamblers to make an example.

Using gamblers as an example who start out with just the intention to have fun maybe and then along the line turn into addicted gamblers that gambling begin to affect other areas of their life like their wellbeing like they stop spending on some important things just so they can make money available for gambling. Now talking about investing, I think it is possible to become addicted to investing so much that it begins to affect your wellbeing, like the person stops spending on other important things like good food, good clothes etc. just so they can have more money to invest? Do you consider that kind of addiction dangerous and not good?

Topic: Investing Addiction. - page 10. (Read 1062 times)