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“Obsessed and Unable to Work” – Cryptocurrency Addiction Facility Releases Questionnaire

“obsessed and unable to work” – cryptocurrency addiction facility releases questionnaire

“Obsessed and Unable to Work” – Cryptocurrency Addiction Facility Releases Questionnaire


“obsessed and unable to work” – cryptocurrency addiction facility releases questionnaire
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Castle Craig rehab facility in Scotland made headlines recently for opening a new rehabilitation program to treat what therapists describe as cryptocurrency trading addiction.

The clinic recently held a Q&A on TNW answering questions on their program and the nature of the addiction itself, which is reportedly similar to online stock day-trading addiction. However, Castle Craig staff feel that the condition poses even more risks than the broader category of day-trading addiction due to the extreme volatility of the digital assets being traded and the constant access to a 24/7 market.

The staff spoke to CCN about their new program.

“Our core treatment programme is known as a twelve-step model (it follows the concepts for recovery, first formulated by Alcoholics Anonymous in the early 1940’s which have been hugely successful ever since). This is based on the idea of change based on self discovery where honesty and personal responsibility are key,” said therapist Chris Burn.

However, with behavioural addictions such as gambling, we also provide cognitive behavioural therapy (CBT). Daily programme includes group therapy, individual counselling, lectures and assignments, all within a therapeutic community.”

Burn went on to point out that gambling addiction is believed to produce the highest amount of suicides out of any form of addiction, and encouraged traders to remain vigilant about their own habits and those of their loved ones. Castle Craig has a questionnaire aimed at enabling traders to identify whether they might have addictive tendencies in trading cryptocurrencies.

Castle Craig’s Rupert Murray Wolfe spoke to us about the formation of the program and the typical signs of addiction.

“It all started earlier this year when we got phone enquiries from crypto-traders asking about addiction treatment. They informed us about this “new” addiction. Then we looked into it and found it was a gambling addiction with many similarities to day trading addiction.”

“We do see it getting worse and I think we’ve only just seen the start of it, the start of people facing up to perhaps being addicted to crypto trading. Denial is a huge part of any addiction.”

“When it becomes an addiction the user will not only lose money but also lose control over their life; they will become obsessed and be unable to work, have normal relationships or do anything else without constantly checking prices and news.”

The questionnaire lists the following specific factors in identifying cryptocurrency trading addiction:

  • Feeling guilt over cryptocurrency investments
  • Investing more than one can afford
  • Constantly checking crypto prices
  • Experiencing fear of missing out (FOMO)
  • Related health problems such as lack of sleep
  • Receiving criticism over excessive trading from others
  • Spending more money to recoup losses
  • Constantly needing to invest higher amounts to receive the same feeling of satisfaction
  • Borrowing money to trade
  • Experiencing financial problems due to trading

Users can answer the questionnaire and add up the results to help determine whether trading poses a genuine opportunity for financial games or a threat of gambling addiction, with more resources and case studies at the Castle Craig website for those concerned that they may have a problem with excessive or compulsive trading.

Featured image from Shutterstock.

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Published at Sat, 07 Jul 2018 15:40:32 +0000

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T.Mickauskas: Bitcoinus Will Rule the Blockchain Payments in 2 Years

Global e-commerce revenues rise at around 20% annually and the pace should continue this way for at least several years to come. This year the numbers should exceed $3 trillion level when we combine all worldwide sales expectations.

Now if we look at currently absolutely astonishing increase in capitalization of cryptocurrencies, there are a few assumptions to be made. Since 2017, bitcoin alone rose over 1400% in value it gets very tempting and obvious that more and more retail consumers going to switch to cryptocurrencies. Most of them will maintain the focus on the growth of their capital. However, a very common practice is to spend a little bit of gain on small retail purchases and the trend has only started to appear.

E-commerce continues to skyrocket

 

Online purchases in most cases compile to around 10% of all global retail sales. The number is also growing every year and the future is clear – the e-commerce will eventually dominate the market. While according to Statista, over 19% of all sales were online based in China it only adds up to around 6,7% in Japan. The numbers are projected to increase at least 15% every year.

Switching back to cryptocurrencies, it is important to note that only a tiny fraction of e-commerce companies offer payments in bitcoin, Ethereum or any other altcoin. The overall industry of online crypto payments is far away from exceeding 1% of all transactions.

Bitcoinus is an online crypto processing company targeting this – once in a lifetime – market opportunity to expand at an incredible pace.

“Media attention to blockchain based products and specifically cryptocurrencies like bitcoin is overwhelming. The reality, on the other hand, is that the real revolution and the switch to this form of financial freedom is yet to happen. We started Bitcoinus to help people and businesses to maximize their gains by utilizing blockchain technology. It is now or never and between the two, we chose NOW.” – Says Tomas Mickauskas, the founder of Bitcoinus.

Crypto Payments in Every E-Shop

The main idea beyond Bitcoinus is to make all types of cryptocurrencies available to retail customers wishing to buy any item online with their bank cards. Beyond the complex process of transaction lies the simplicity of two click payment.  An individual will no longer need to go through a long and exhausting process of buying cryptos, storing them safely and then sometimes losing in cases of unfortunate events or scams.

Bitcoinus will introduce the merchant reputation system where all of the online businesses will be rated according to their performance levels and transparency. Ensuring commercial trust between the two parties is the key when we speak about the immediate adoption of the technology.

Another reason why Bitcoinus will make its way to dominating the industry is its relatively low cost to any of the existing competitors. 0.5% transaction cost is what the standard package of Bicoinus payment processing will be. In comparison to any credit card processing gateway companies, the commission sometimes only adds to as little as 10% of the regular pricing. Getting 90% discount for the service clearly brings strong opportunities for cost optimization and lower prices to the end retail clients.

Financial ICOs Bring Overwhelming Returns

2017 was a year of many successful ICOs and impressive capital gains. The infrastructure of blockchain based technology for retail user is only on its way and many of the ICOs were suggesting their outlook on many industries.

When it comes to financing, there was no shortage of great success stories, some of which are worth mentioning to make a point of where the market is headed. Tezos ICO attracted over $232 million and the return on their token has already brought over 1100% rate to the contributors. The example is impressive and shows how much the community is into new promising blockchain projects.

Tezos is not alone with this level of short-term return to its supporters. Another great example could be Status which generated an even higher rate of around 1500% returns.

When we speak about financial companies, one of the most shining stars will have to be TenX. The ICO campaign claimed to simplify the everyday use of cryptocurrencies. They succeeded to attract a lot of international attention with the service and their new approach to crypto. The returns to this day amount to roughly 550%.

“Bitcoinus will deliver the much-needed infrastructure for all global online-based businesses and retail clients. Having in mind the fact that there is no industry leader as we speak it will certainly be interesting to get involved in the formation of this new market segment. We are ready to dedicate all our resources to make it to the top and I am sure we will. The need for the quality cryptocurrency processing will continue to increase at an overwhelming pace. Everyone, business or individual, will look to find the best way to pay or get paid in crypto. Bitcoinus will be exactly what they will be looking for.”– says Povilas Ruzgaila, the head of business development of Bitcoinus.

Bitcoinus ICO 

The ICO of Bitcoinus will commence on 22nd of January. All contributors will be able to get generous 47% discount on BIU tokens. Some of the best examples of future benefits are free transactions to B2B clients who will be interested in adopting the cryptocurrencies as their additional new payment method.

All individuals who will support the Bitcoinus project will also be able to get a variety of discounts while shopping at Bitcoinus retail partners’ online platforms and e-shops. BIU tokens will be traded in all major exchanges to provide the liquidity, therefore, it will create all conditions for the token to be accepted as a payment method to all Bitcoinus partners.

Bitcoinus ICO presale will offer 8M tokens 47% off the regular price, starts on 22nd of January.

Websitewww.bitcoinus.io

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