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How To Make Sure Crypto Trading Does Not Take Over Your Life
Could you live without cryptocurrency in your life? For its proponents, bitcoin is a drug that’s had them hooked since the day they discovered it. Not all holders feel the same way though. Stung by massive losses and the realisation that cryptocurrency is taking over their life, some traders forced themselves to walk away for good.
Also read: Major Korean Insurer to Offer Crypto Exchanges Insurance for Hacking Damages
Moving On When the Music Stops
“After spending 5 years in crypto I am out,” began the message board confession. “Yesterday’s crash was brutal, and something I can’t wrap my mind around changed when I woke up this morning. I don’t want to wage-cuck but I will. And instead of spending my entire days behind a screen in a room I am gonna get a job, hang out with the friends that I have been neglecting and just be a cucked member of society.”
The prospect of quitting crypto altogether – everything it stands for and the culture that comes with it – is anathema to most. Being in crypto is like supporting your football team; it’s less something you choose, and more something that’s thrust upon you. Buying bitcoin is akin to being inducted into the Mafia: once you’re in, you’re in for life. But life isn’t always understanding, and for some, cursed by their own greed or poor decision-making, cryptocurrency can become a millstone around their neck, a dead weight more burdensome than the heaviest of altbags.
Crypto Is a Hard Habit to Break
Few tears will be shed over those who came for the profits, got burnt, and then scampered back whence they came. The remainder who are, all memes aside, in it for the tech, and for the financial freedom cryptocurrency can provide, won’t be going anywhere. Not all of those planning to abandon the good ship crypto are doing so because they got rekt, it should be noted. Some have simply become too immersed.
“I’m starting to consider what to do in a few months time,” conceded one freelancer, pondering an exit strategy. Having been working full-time in crypto for six months, while racking up long hours, he’s starting to feel the strain. Despite having been enthralled with bitcoin since 2013, being forced to eat, sleep, and talk crypto 24/7 is taking its toll. He continued:
The Men Who Sacrificed Everything
New research has sought to dispel the notion that women are more risk averse than men. That may be the case, but anecdotally at least, crypto’s quitters are overwhelmingly male. While the rage-quitting stories of anonymous message board posters and pseudonymous Telegram users are hard to verify, collectively, the narrative is clear: due to financial or mental health reasons, a growing number of guys are seeking a clean break.
“Just calculated my losses, 76% loss in 2 months, feeling like quitting crypto,” reads one message on the notorious Rekt Plebs Telegram. “I’m literally done with crypto,” mopes another. It is no coincidence that many of the same people who lost years of their lives to World of Warcraft have succumbed to a similar fate with crypto. The dopamine rush that fuels the rewards mechanism in each of these pursuits is identical.
Rekt Plebs is filled with tales of woe
A Serious Addiction
“I am addicted to this shit,” admitted the /biz/ poster mentioned at the outset. “I need to step away and do something else, just like WoW was 5-6 years back, crypto is dictating my daily life. It’s not healthy and it’s damaging relationships with friends, family; and mentally it’s taking its toll too. Maybe I will just a break, but at this point not intending to come back for some time. Crypto is my addiction, I need to get it out to stop a vicious cycle.” As for his portfolio, he recounts:
180k at my peak, 10k now, cashed out 25k along the way. Wouldn’t know what to do with the 180k if I got there again. Dreadful. But I learned many important lessons. I figure I’d say goodbye to the board which kept me entertained for the past 2 years. Leaving 40$ in ETH & MKR since I CBA to cash [out].
Within minutes of the wallet’s private key being posted, it had been emptied of its shrapnel by a grateful fellow anon.
Humans are obsessive in their habits. We have a tendency to do things 100% or not at all. That’s why guys will hammer the gym six days a week or stay rooted to the couch, and women will yo-yo between dieting and binging. Cryptocurrency, like all of the best things in life, is best enjoyed in moderation, but that’s easier said than done.
Most people have the ability to step away from Tradingview when crypto starts to take over. But for those who struggle with impulse control, taking a complete break from cryptocurrency may be the only option. Walking away in the depths of a bear market is one thing. Staying away when the next bull run kicks in may be quite another.
Could you live without cryptocurrency in your life? Let us know in the comments section below.
Images courtesy of Shutterstock, and Twitter.
Need to calculate your bitcoin holdings? Check our tools section.
The post How To Make Sure Crypto Trading Does Not Take Over Your Life appeared first on Bitcoin News.
How To Make Sure Crypto Trading Does Not Take Over Your Life published first on https://medium.com/@smartoptions
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Cryptocurrency Has Already Made You Rich – You Just Didn’t Notice
Cryptocurrency Has Already Made You Rich – You Just Didn’t Notice
When your altbags are weighing heavy and you haven’t checked your portfolio in days. When your long has been liquidated and the ICO that promised the moon has taken your ether and fallen silent. When regulators are cranking up the rhetoric and FUD is the only acronym in town. When all of these things conspire against you, it’s easy to get downhearted and forget about the many ways in which crypto…
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Could you live without cryptocurrency in your life? For its proponents, bitcoin is a drug that’s had them hooked since the day they discovered it. Not all holders feel the same way though. Stung by massive losses and the realisation that cryptocurrency is taking over their life, some traders forced themselves to walk away for good.
Also read: Major Korean Insurer to Offer Crypto Exchanges Insurance for Hacking Damages
Moving On When the Music Stops
“After spending 5 years in crypto I am out,” began the message board confession. “Yesterday’s crash was brutal, and something I can’t wrap my mind around changed when I woke up this morning. I don’t want to wage-cuck but I will. And instead of spending my entire days behind a screen in a room I am gonna get a job, hang out with the friends that I have been neglecting and just be a cucked member of society.”
The prospect of quitting crypto altogether – everything it stands for and the culture that comes with it – is anathema to most. Being in crypto is like supporting your football team; it’s less something you choose, and more something that’s thrust upon you. Buying bitcoin is akin to being inducted into the Mafia: once you’re in, you’re in for life. But life isn’t always understanding, and for some, cursed by their own greed or poor decision-making, cryptocurrency can become a millstone around their neck, a dead weight more burdensome than the heaviest of altbags.
Crypto Is a Hard Habit to Break
Few tears will be shed over those who came for the profits, got burnt, and then scampered back whence they came. The remainder who are, all memes aside, in it for the tech, and for the financial freedom cryptocurrency can provide, won’t be going anywhere. Not all of those planning to abandon the good ship crypto are doing so because they got rekt, it should be noted. Some have simply become too immersed.
“I’m starting to consider what to do in a few months time,” conceded one freelancer, pondering an exit strategy. Having been working full-time in crypto for six months, while racking up long hours, he’s starting to feel the strain. Despite having been enthralled with bitcoin since 2013, being forced to eat, sleep, and talk crypto 24/7 is taking its toll. He continued:
The Men Who Sacrificed Everything
New research has sought to dispel the notion that women are more risk averse than men. That may be the case, but anecdotally at least, crypto’s quitters are overwhelmingly male. While the rage-quitting stories of anonymous message board posters and pseudonymous Telegram users are hard to verify, collectively, the narrative is clear: due to financial or mental health reasons, a growing number of guys are seeking a clean break.
“Just calculated my losses, 76% loss in 2 months, feeling like quitting crypto,” reads one message on the notorious Rekt Plebs Telegram. “I’m literally done with crypto,” mopes another. It is no coincidence that many of the same people who lost years of their lives to World of Warcraft have succumbed to a similar fate with crypto. The dopamine rush that fuels the rewards mechanism in each of these pursuits is identical.
Rekt Plebs is filled with tales of woe
A Serious Addiction
“I am addicted to this shit,” admitted the /biz/ poster mentioned at the outset. “I need to step away and do something else, just like WoW was 5-6 years back, crypto is dictating my daily life. It’s not healthy and it’s damaging relationships with friends, family; and mentally it’s taking its toll too. Maybe I will just a break, but at this point not intending to come back for some time. Crypto is my addiction, I need to get it out to stop a vicious cycle.” As for his portfolio, he recounts:
180k at my peak, 10k now, cashed out 25k along the way. Wouldn’t know what to do with the 180k if I got there again. Dreadful. But I learned many important lessons. I figure I’d say goodbye to the board which kept me entertained for the past 2 years. Leaving 40$ in ETH & MKR since I CBA to cash [out].
Within minutes of the wallet’s private key being posted, it had been emptied of its shrapnel by a grateful fellow anon.
Humans are obsessive in their habits. We have a tendency to do things 100% or not at all. That’s why guys will hammer the gym six days a week or stay rooted to the couch, and women will yo-yo between dieting and binging. Cryptocurrency, like all of the best things in life, is best enjoyed in moderation, but that’s easier said than done.
Most people have the ability to step away from Tradingview when crypto starts to take over. But for those who struggle with impulse control, taking a complete break from cryptocurrency may be the only option. Walking away in the depths of a bear market is one thing. Staying away when the next bull run kicks in may be quite another.
Could you live without cryptocurrency in your life? Let us know in the comments section below.
Images courtesy of Shutterstock, and Twitter.
Need to calculate your bitcoin holdings? Check our tools section.
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Cryptocurrency Has Already Made You Rich – You Just Didn’t Notice
Cryptocurrency Has Already Made You Rich – You Just Didn’t Notice
When your altbags are weighing heavy and you haven’t checked your portfolio in days. When your long has been liquidated and the ICO that promised the moon has taken your ether and fallen silent. When regulators are cranking up the rhetoric and FUD is the only acronym in town. When all of these things conspire against you, it’s easy to get downhearted and forget about the many ways in which crypto…
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Cryptocurrency Has Already Made You Rich – You Just Didn’t Notice
Cryptocurrency Has Already Made You Rich – You Just Didn’t Notice
Op-Ed
When your altbags are weighing heavy and you haven’t checked your portfolio in days. When your long has been liquidated and the ICO that promised the moon has taken your ether and fallen silent. When regulators are cranking up the rhetoric and FUD is the only acronym in town. When all of these things conspire against you, it’s easy…
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This Week in Bitcoin: Markets Wobble While Fees Keep Soaring
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Bitcoin never sleeps or slows. With the holidays approaching, there was zero chance of the world’s leading cryptocurrency taking a break so we could tend to last-minute shopping and drinking. Like the primadonna that she is, this week in bitcoin continued the year’s trend of hogging the limelight, with tales of rising fees and Coinbase misbehavior fueling much of the action.
Also read: People Keep Sending Satoshi Nakamoto Bitcoin
Don’t Be Evil
A lot of people had a lot of things to say about Coinbase this week, and most of it was negative. Whether it was raging about insider trading, disastrously introducing bitcoin cash, or slowness to adopt Segwit, Coinbase was taking flak from all sides. It’s a remarkable change in public sentiment towards an exchange that was once regarded so highly by many. Could Coinbase be in danger of becoming bitcoin’s Google – a monopoly that winds up doing more evil than good?
The week began with CME futures launching, which proved to be anti-climactic in the end. There was a sense that the market had been overbought in the weeks leading up, which may account for the sizeable slump that occurred mid-week. CME futures might have been a non-event, but there were plenty of talking points to be had elsewhere – like fees for instance.
Such Fees, Much Disappoint
Bitcoin Fees Are Infeasible we stated last Sunday. One week on, and those punitive fees look modest compared to the three and four-figure USD sums being touted now for moving large amounts of bitcoin. Transferring the digital currency is fast becoming the privilege of institutions and whales only. For everyone else, rocketing fees are forcing a switch to anything that isn’t bitcoin core – bitcoin cash, dash, litecoin, and even doge.
In a week that saw news.Bitcoin.com record record traffic, and a record number of reader comments too, everyone had a lot to say about everything. Stories that got the comments section frothing included the IRS pursuing taxes from altcoin traders and a round-up of bitcoin crashes to date, which was the most popular article of the week by some distance. We wrote:
The trend over nearly a decade is this: as much as bitcoin is propped up by hucksters looking to make a fast buck, there are many more still who work on building the project along every day. If BTC continues to have value, people will choose to support it.
What’s in a Name?
What’s in a name? When that name happens to involve bitcoin or blockchain the answer is a 3,750% rise in your share price. It’s the silly season for companies cashing in on the bitcoin boom, and while we’ve probably not hit Peak Bitcoin, we’ve surely hit Peak Bitcoin Names for Non-Bitcoin Things. Speaking of names, we wound up writing about “fake Satoshi” Dorian Nakamoto twice this week, including the handsome profit he seems to have made from cashing out his bitcoins.
While some of the stories that gained traction were decidedly silly – like a line of sex toys that lets you tether your pleasure to the price of bitcoin – there was serious business to report too. This included cryptocurrency crackdowns in India and Ukraine, the latter story brought by the latest addition to the news.Bitcoin.com team, Lubomir Tassev. We’ve now got a staffing presence in every major continent and region save for Antarctica (we’re still working on that one).
To Hodl or Not to Hodl
The news that Litecoin founder Charlie Lee had sold all his LTC was another hot topic. It wasn’t just the fact that he’d off-loaded that caused controversy, but that he seemed to have sold at the top, just before the cryptocurrency markets took a tumble. Bitcoin dropped by 30%, causing a few newbs to panic (not least those who’d mortgaged their house to buy bitcoin), but wiser heads shrugged it off. It was only the sixth time this year bitcoin had taken a tumble before rising again rapidly. After rallying to $15,000, bitcoin slipped below the $13k mark again today, but whatever price it ends the year on, 2017 has been an insanely good year for the cryptocurrency.
We’ve reached a stage where there isn’t even enough room in This Week in Bitcoin to cover everything that happened this week in bitcoin. From Goldman Sachs joining the trading party to Coinbase collecting UTXOs like they were rare Pepes, bucketloads of stuff has happened. Mike Novogratz got bearish, one futures trader got extremely bearish and Eric Wall weighed in with his weekly trading column, discussing the art of buying the dip.
Next week we hope to bring some exciting news that’s gonna make it even easier to keep up with the top stories from the world of bitcoin. Meanwhile, if dispensing cryptocurrency advice to ignorant in-laws at Christmas starts to tire, retreat to a quiet corner where you can catch up on the latest from us on Twitter and Telegram. Happy holidays from everyone at news.Bitcoin.com. May your altbags soar and your transaction fees drop. See you back here next week for the final round-up of the year.
What was your favorite story from this week? Let us know in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.
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The post This Week in Bitcoin: Markets Wobble While Fees Keep Soaring appeared first on Bitcoin E-Gold Rush.
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Bitter Almond, ότι καλύτερο είδαμε στη Κέρκυρα
Ήταν να μη πάρω φόρα, δεύτερο επεισόδιο του “κάτσε ποιοί;” (εκτός αν είσαι Κερκυραίος τότε πάσο) έτσι για να ξερούμε ποιά είναι η πιο altbag εδω μέσα. Bitter Almond λοιπόν, rock μπάντα που ξεκίνησε το 2010 όταν οι αγαπητοί Άγγελος Ανδριώτης (φωνητικά, μπάσο), Σωτήρης Βογιατζόγλου (κιθάρα), Ανδρέας Αλαμάνος (drums) ήταν ουσιαστικά έμβρυα (είπε το νήπιο σας ακούω να λέτε, ντροπή σας). Το 2013…
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Restock alerta! Bolso y monedero de cara de gato 😻 : : #gothiczone #altbag #cateyes #allthingscat #gatos #bannedalternative (en Gothic-Zone) https://www.instagram.com/gothiczone/p/BumVysfnRIJ/?utm_source=ig_tumblr_share&igshid=1fgwr0lxahg5m
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