Scotland’s largest addiction treatment center is offering a treatment for all those people who are hooked on cryptocurrency trading and can’t get their heads out of the crypto markets.
Castle Craig Hospital in Peeblesshire is offering a residential treatment course for all the “crypto addicts” to help them know live outside of the crypto world and focus on other underlying issues.
Though the addiction is nowhere mentioned in scientific studies, the professionals at the hospital believe that crypto addicts show the same behavior as problem gamblers, who despite of facing constant loses show an urge to trade in the digital currencies.
“The high risk, fluctuating cryptocurrency market appeals to the problem gambler,” Chris Burn, a gambling therapist at Castle Craig Hospital, told Sky News. “It provides excitement and an escape from reality. Bitcoin, for example, has been heavily traded and huge gains and losses were made. It’s a classic bubble situation.”
The treatment facility has developed techniques to treat these online addicts who follow minute-by-minute cryptocurrency price fluctuations. Just like gambling addicts, crypto addicts will be provided by group therapies where they will share their life experiences with each others.
Too much of anything can become a problem, so it’s always important to find that balance. With the growing popularity of #cryptocurrency, those hooked on trading virtual money can now get treatment in the first centre of its kind in the Scottish Borders. | #crypto #cryptonews pic.twitter.com/SUjFNQKRK5
— Automata Robo Advisor (@automatacrypto) May 28, 2018
Tony Marini, who himself had been a gambling and cocaine addict in the past and now serves as a therapist at the facility, will lead some of the treatment courses.
“It provides excitement and an escape from reality. Bitcoin, for example, has been heavily traded and huge gains and losses were made. It’s a classic bubble situation,” he said.
Though the Castle Craig Hospital intends to help the crypto-obsessed folks cool down their crypto-craze, the crypto traders on the other hand do not think their addiction is serious enough for them to get any help.
Manav Singhal, CEO of the blockchain startup Velix.ID is a crypto addict himself who keeps on trading despite of numerous loses. When asked by TNW about his addiction, Singhal refused to admit that he has a problem.
“I think profits and losses are just a part of the trading, and it is no different than trading any other kinds of securities,” he said. “Gambling addicts are just that — gambling addicts. They can choose any addiction they want, and it can be cryptocurrencies, but that doesn’t mean that a majority of cryptocurrency traders are addicts. There’re many reasons that make you trade cryptocurrencies frequently, given how fast things are changing in the industry. I am not signing up for any rehabilitation any time soon.”
An addict never admits he is an addict and this proves that crypto addiction is really a thing, though none of the addicts are willing to get the treatment.