Tuesday, March 26

Confessions of a Bitcoin addict in treatment, who lost everything: ‘Don’t worry about me, we will all be millionaires’



Cryptocurrencies are basically gambling. Like stocks, or the Stock Market. The problem arises when you can’t stop.

One of the keys to success of cryptocurrencies is the real possibility, although not as easy as some think, of become a millionaire. And that can be a problem for people with addiction tendencies.

This interview is not intended to be a criticism of cryptocurrencies., nor do we want to brand them as addictive. They are no more so than stocks, the stock market or slot machines. Although their greater ease of access, greater risk and gain, and media blitz, make them more dangerous for people with addiction tendencies.

Journalist Lisa Hanley of Business Insider has interviewed a Bitcoin addict, who has preferred to remain anonymous, and who is currently admitted to a rehabilitation clinic in Scotland. It’s the story of how his addiction to cryptocurrencies took him from earning more than 100,000 euros a year in a secure job, to losing it all.

Vivid Money offers a free bank account with a virtual card and investments in fractions of cryptocurrencies and shares.

This anonymous British patient has always been addicted to something, and he wants to make that clear from the start. At the age of 16, he was already taking drugs and alcohol. and at the age of 21 he went to jail for drug trafficking.

But he got his life back on track, and At the age of 30, he worked as a tunnel miner and earned 109,000 euros a year. As he himself says: “If I had invested my money wisely with a financial adviser and a stockbroker, by the age of 60 I would have saved £1 million“.

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But his tendency to always be hooked on something was his undoing. His addiction to drugs replaced her with addiction to stocks, in 2009, until in 2015 he discovered cryptocurrencies: “It was like seeing a company born, like a newly created oil company that extracts black gold“.

Can you get Bitcoins and other cryptocurrencies for free? The truth is that yes, but free does not mean given away. You’ll have to do something to get them…

East addicted to bitcoin he was not satisfied with buying and selling. I spent hours and hours doing complete data analysis.

It was clear to him that the price of Bitcoin rose and fell like a mountain range, and through data analysis he believed he could predict when the price would rise and fallto buy low and sell high.

But This obsession with predicting the evolution of Bitcoin further aggravated his addiction. He spent hours and hours, day and night, analyzing data, buying and selling bitcoins, while smoking cannabis again. He only remembered to eat when his stomach growled.

His family saw his deterioration, but he always repeated to them: “Don’t worry about me, soon we will all be millionaires“.

That wish was never fulfilled. He caught a bad streak of bitcoin and could not sell more expensive than he had bought. He ran up debts, and he lost his job when he was diagnosed with autism and a growing addiction problem. Four years after discovering bitcoin, in 2019, it was completely ruined.

I lost my integrity, my trust and my heritage. I was hitting rock bottom, powerless over all my addictions. Finally, I ended up thinking about suicide“, explains in Business Insider.

His family convinced him to enter a rehabilitation clinic in Scotland, where he has been for more than a year.

The interview ends with a warning: “If you’re like me, and you’re getting high on the risk of high stakes while you’re riddled with fear and regret and insecurity about the next trade, I’d tell you to stop. Analyze your self-esteem before chasing millions. Seek help. Attend meetings. and stop playing“.

A piece of wise advice that applies not only to cryptocurrencies. Also to the Stock Market, investments, or bets. Unfortunately, he found out too late.

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