Post
Topic
Board Serious discussion
Merits 4 from 3 users
Gambling addiction and serious mental illness
by
NWJBL
on 13/05/2018, 22:57:35 UTC
⭐ Merited by suchmoon (2) ,bones261 (1) ,mprep (1)
Hi, guys. I wondered if anyone else here had experienced these troubles from being in the markets. Let me give you some background:

I bought btc and ltc in 2013 and lost 20% or so messing around in alts around the Mt Gox crash. I swore not to play with alts again, put my coins in a wallet and forgot about them until Autumn 2017.

At this point, I added more fiat, things were going well. I was still 90% bitcoin, but started to visit forums and chats and I was slowly encouraged towards altcoins, hearing about the crazy gains. By December I was 0% bitcoin and out on a limb with many alts. I was day-trading and holding (for a few days!) and making big profits. When the crash came in January, I had no idea what to do and lost 80-90% of my sats.

The bear market hit me hard, I didn't - at the time - realise how it was all manipulated and coordinated it was. I fell for it completely and sold a lot of valuable coins very low, I dumped my ICOs at a loss, made desperate, scrappy trades - and ended up losing almost all of a 250k portfolio.

I came to have daily anxiety attacks lasting hours, and I couldn't function properly in daily life. The distress was severe and I "attempted" suicide more than once, and it was constantly on my mind. I thought there was no hope of recovery - but of course there definitely was. If I had just done a few good ICOs in that time, for instance!

When alts started rallying in March, I noticed them early but the stress and hurry to recovery my losses, plus some bad advice from the internet, led me to trading way too much and I barely made 10% gains in April, despite every coin I had held (for a while) going 2-5x in price. If I had just held them, I'd have done very well!

This has compounded and the loss of my original ATH plus the new stress and panic over desperately trying to make it back has led to what I think can be called a real gambling addiction; after years of hodling I now can't leave a coin alone for more than a day. I read forums and am constantly FOMOing into a dozen different shitcoins just in case they moon and I miss it. In doing so, I sell off chunks of my most reliable coins, and then miss out even more.

The anxiety attacks continue daily and I have reluctantly started medication.


Has anyone else been so badly affected by the bear, and then also by the bull? Do you have any advice? I want to be able to go back to peaceful hodling with minimal intervention, and hopefully check again at the end of the year for a nice surprise. But my mental health has been absolutely wrecked and I am struggling a great deal.

Anyone else?

many thanks,