7 ms·

Crypto Addiction: A Hidden Epidemic?

9 points by bcaulfield 5y ago

pkdpic 5y ago
Somebody might know better than me but based on everything Ive observed with the crypto bros at my job (and they are always men for some reason) it seems like the outward behavior might literally meet most if not all of the medical criteria for addiction?
- WalterGR 5y ago
  What medical criteria for addiction are you referring to?
  - missedthecue 5y ago
    Probably compulsiveness, inability to quit
    - pkdpic 5y ago
      That sounds about right, but I assumed there must be some hard criteria from a doctors perspective.
      - WalterGR 5y ago
        If a random google link is to be believed, these are the DSM-5 criteria: "" 1. Hazardous use: You have used the substance in ways that are dangerous to yourself and/or others, i.e., overdosed, driven while under the influence, or blacked out. 2. Social or interpersonal problems related to use: Substance use has caused relationship problems or conflicts with others. 3. Neglected major roles to use: You have failed to meet your responsibilities at work, school, or home because of substance use. 4. Withdrawal: When you stop using the substance, you experience withdrawal symptoms. 5. Tolerance: You have built up a tolerance to the substance so that you have to use more to get the same effect. 6. Used larger amounts/longer: You have started to use larger amounts or use the substance for longer amounts of time. 7. Repeated attempts to control use or quit: You've tried to cut back or quit entirely, but haven't been successful. 8. Much time spent using: You spend a lot of your time using the substance. 9. Physical or psychological problems related to use: Your substance use has led to physical health problems, such as liver damage or lung cancer, or psychological issues, such as depression or anxiety. 10. Activities given up to use: You have skipped activities or stopped doing activities you once enjoyed in order to use the substance. 11. Craving: You have experienced cravings for the substance. "" Clearly it's focused on substance abuse and not behavioral addiction. (I'm sure I'm using imprecise terminology here.) #3 would be difficult to prove for a 'crypto addiction', I have to imagine.
  - wmf 5y ago
    https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5328289/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5328289/
- EastOfTruth 5y ago
  I hold, does that mean I'm addicted?
missedthecue 5y ago
It's interesting to me why trading crypto should be this compelling for so many, especially given that there are multi million dollar scams weekly it seems. It's not very evident to me why that form of gambling is more attractive to the average person than wagering on football teams or trading stocks.
- LurkingPenguin 5y ago
  > It's not very evident to me why that form of gambling is more attractive to the average person than wagering on football teams or trading stocks. Football/sports: there's the impression that you need to have a high level of knowledge to be successful, and unless you're using more complex betting strategies/placing more exotic bets, the gains are fairly limited. Stocks: much the same although there's always be a contingent of people who go for "penny stock" scams. With crypto, you can literally just put your money in and if you're early and lucky enough and have diamond enough hands, massive life-changing gainz can be yours over very short time horizons. See: news articles like the ones talking about how an $8,000 purchase of shiba inu coin last year is now worth over $5 billion.
  - gowld 5y ago
    The local Lottery works the same way.
  - ksaj 5y ago
    Penny stocks aren't a scam. People who think they can manipulate them are scamming you though. I regularly trade penny stocks, sometimes buying and selling the same one multiple times in one day. But I don't advertise them and I don't follow advertised trades. I look for very specific attributes and get my dealing done as quickly as I can. I actually stick with the companies that I think will succeed, too. Maybe the Penny Stock Industry (if it exists) is a scam. I get what you're saying. But the stocks themselves are the same as any other stock. Just smaller and more volatile. The scam part is when someone publicizes a penny stock and hypes it for a pump and dump. Sometimes I ride them, too. But I duck out early because I know how it ends. I just make sure I sell before the pump-and-dumpers do. They nearly always tell you their "prediction" to help drive it up to where they're hoping to sell.
rvz 5y ago
> He is now, with self-confessed irony, selling digital versions of the images as NFTs—non-fungible tokens, for which he is paid in ethereum. And for every sale, 70% of the NFT profits go to the miners given the extremely high gas fees these days.

9 points by bcaulfield 5y ago

Somebody might know better than me but based on everything Ive observed with the crypto bros at my job (and they are always men for some reason) it seems like the outward behavior might literally meet most if not all of the medical criteria for addiction?

WalterGR 5y ago
What medical criteria for addiction are you referring to?
- missedthecue 5y ago
  Probably compulsiveness, inability to quit
  - pkdpic 5y ago
    That sounds about right, but I assumed there must be some hard criteria from a doctors perspective.
    - WalterGR 5y ago
      If a random google link is to be believed, these are the DSM-5 criteria: "" 1. Hazardous use: You have used the substance in ways that are dangerous to yourself and/or others, i.e., overdosed, driven while under the influence, or blacked out. 2. Social or interpersonal problems related to use: Substance use has caused relationship problems or conflicts with others. 3. Neglected major roles to use: You have failed to meet your responsibilities at work, school, or home because of substance use. 4. Withdrawal: When you stop using the substance, you experience withdrawal symptoms. 5. Tolerance: You have built up a tolerance to the substance so that you have to use more to get the same effect. 6. Used larger amounts/longer: You have started to use larger amounts or use the substance for longer amounts of time. 7. Repeated attempts to control use or quit: You've tried to cut back or quit entirely, but haven't been successful. 8. Much time spent using: You spend a lot of your time using the substance. 9. Physical or psychological problems related to use: Your substance use has led to physical health problems, such as liver damage or lung cancer, or psychological issues, such as depression or anxiety. 10. Activities given up to use: You have skipped activities or stopped doing activities you once enjoyed in order to use the substance. 11. Craving: You have experienced cravings for the substance. "" Clearly it's focused on substance abuse and not behavioral addiction. (I'm sure I'm using imprecise terminology here.) #3 would be difficult to prove for a 'crypto addiction', I have to imagine.
- wmf 5y ago
  https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5328289/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5328289/
EastOfTruth 5y ago
I hold, does that mean I'm addicted?

missedthecue 5y ago

It's interesting to me why trading crypto should be this compelling for so many, especially given that there are multi million dollar scams weekly it seems. It's not very evident to me why that form of gambling is more attractive to the average person than wagering on football teams or trading stocks.

LurkingPenguin 5y ago
> It's not very evident to me why that form of gambling is more attractive to the average person than wagering on football teams or trading stocks. Football/sports: there's the impression that you need to have a high level of knowledge to be successful, and unless you're using more complex betting strategies/placing more exotic bets, the gains are fairly limited. Stocks: much the same although there's always be a contingent of people who go for "penny stock" scams. With crypto, you can literally just put your money in and if you're early and lucky enough and have diamond enough hands, massive life-changing gainz can be yours over very short time horizons. See: news articles like the ones talking about how an $8,000 purchase of shiba inu coin last year is now worth over $5 billion.
- gowld 5y ago
  The local Lottery works the same way.
- ksaj 5y ago
  Penny stocks aren't a scam. People who think they can manipulate them are scamming you though. I regularly trade penny stocks, sometimes buying and selling the same one multiple times in one day. But I don't advertise them and I don't follow advertised trades. I look for very specific attributes and get my dealing done as quickly as I can. I actually stick with the companies that I think will succeed, too. Maybe the Penny Stock Industry (if it exists) is a scam. I get what you're saying. But the stocks themselves are the same as any other stock. Just smaller and more volatile. The scam part is when someone publicizes a penny stock and hypes it for a pump and dump. Sometimes I ride them, too. But I duck out early because I know how it ends. I just make sure I sell before the pump-and-dumpers do. They nearly always tell you their "prediction" to help drive it up to where they're hoping to sell.

rvz 5y ago

> He is now, with self-confessed irony, selling digital versions of the images as NFTs—non-fungible tokens, for which he is paid in ethereum. And for every sale, 70% of the NFT profits go to the miners given the extremely high gas fees these days.