{"id":6813,"date":"2021-12-16T11:41:30","date_gmt":"2021-12-16T11:41:30","guid":{"rendered":"https:\/\/newmoneyreview.com\/?p=6813"},"modified":"2022-01-14T11:18:06","modified_gmt":"2022-01-14T11:18:06","slug":"the-growing-problem-of-cryptocurrency-addiction","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2021\/12\/16\/the-growing-problem-of-cryptocurrency-addiction\/","title":{"rendered":"The growing problem of cryptocurrency addiction"},"content":{"rendered":"<p>In <a href=\"https:\/\/blubrry.com\/newmoneyreview\/83348479\/the-growing-problem-of-cryptocurrency-addiction\/\">the latest <em>New Money Review<\/em> podcast<\/a>, psychotherapist Tony Marini talks about the growing problem of addiction to cryptocurrency.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6814\" src=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/tm.jpg\" alt=\"\" width=\"406\" height=\"425\" srcset=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/tm.jpg 406w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/tm-287x300.jpg 287w\" sizes=\"auto, (max-width: 406px) 100vw, 406px\" \/><\/p>\n<p><em>Tony Marini<\/em><\/p>\n<p>Marini, a specialist in gambling addiction, works at the Castle Craig hospital in Scotland.<\/p>\n<p>In the podcast, he says he\u2019s seen a sharp rise in cryptocurrency-related self-destructive behaviour since the outbreak of the coronavirus pandemic\u2014a period during which many of us have been stuck at home in front of a computer screen.<\/p>\n<blockquote><p>\u201cWhen we are buying or trading in cryptocurrency, we are gambling straight away. This is not regulated. There are lots and lots of people out there who want to take your money.\u201d<\/p><\/blockquote>\n<p>Marini explains how addiction to gambling often goes hand in hand with other addictions, such as to drugs or alcohol.<\/p>\n<p>He says that only increased awareness of the risks resulting from gambling can help combat the problem. In the podcast, Marini calls for better society-wide education on the risks of trading highly volatile crypto assets.<\/p>\n<p><a href=\"https:\/\/blubrry.com\/newmoneyreview\/83348479\/the-growing-problem-of-cryptocurrency-addiction\/\">During the recording<\/a>, Marini and <em>New Money Review<\/em> editor Paul Amery discuss:<\/p>\n<ul>\n<li>How gamblers are often hooked by an initial big win<\/li>\n<li>Confusing skill with chance<\/li>\n<li>Chasing losses, obsession and self-destructive behaviour<\/li>\n<li>Dependency, the desperation phase and cross-addiction<\/li>\n<li>Gambling and suicide risk<\/li>\n<li>Accepting there\u2019s a problem<\/li>\n<li>Building healthier relationships and behaviours<\/li>\n<li>Risk-taking and human nature<\/li>\n<\/ul>\n<p><u>Tony Marini on addiction, gambling and cryptocurrency<\/u><\/p>\n<p>\u201cAddiction could be an escape from reality, grief or trauma. But once you cross the line into addiction you cannot go back\u2014whether that\u2019s alcohol, drugs or gambling.\u201d<\/p>\n<p>\u201cOver the last eighteen months a lot more people have been working from home with two screens: one for their crypto and gambling, the other for work. And many are crossing over into other addictions, such as drugs and alcohol. You\u2019re alone a lot and you think you\u2019re going to perk up with an escape from reality. There\u2019s a tenfold increase in people investing in cryptocurrency.\u201d<\/p>\n<p>\u201cPeople are getting all this information on the internet from others who are saying, \u2018I\u2019m the expert, I can make you lots of money\u2019. It\u2019s absolutely ludicrous\u2014this is gambling, pure and simple.\u201d<\/p>\n<p>\u201cThose addicted to gambling are three times more likely to commit suicide than those suffering from any other addiction. I\u2019ve seen so many people lose their lives to this. It\u2019s just heart-breaking. There really should be a lot more done about this.\u201d<\/p>\n<p>\u201cEducation is the way forward. In schools, colleges and universities young people are told a lot about the risks in drugs and alcohol, but not about gambling, and especially not about cryptocurrency and where it can take them.\u201d<\/p>\n<p>\u201cWhen we are buying or trading in cryptocurrency, we are gambling straight away. This is not regulated. There are lots and lots of people out there who want to take your money.\u201d<\/p>\n<p><u>The crypto curve<\/u><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6810\" src=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/crypto-curve.png\" alt=\"\" width=\"1127\" height=\"770\" srcset=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/crypto-curve.png 1127w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/crypto-curve-300x205.png 300w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/crypto-curve-1024x700.png 1024w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2021\/12\/crypto-curve-768x525.png 768w\" sizes=\"auto, (max-width: 1127px) 100vw, 1127px\" \/><\/p>\n<p><em><a href=\"http:\/\/eepurl.com\/du6eTr\">Sign up here<\/a> for the New Money Review newsletter<\/em><\/p>\n<p><em><a href=\"https:\/\/blubrry.com\/newmoneyreview\/\">Click here<\/a> for a full list of episodes of the New Money Review podcast: the future of money in 30 minutes<\/em><\/p>\n<p><span style=\"text-decoration: underline;\">Related content from <em>New Money Review<\/em><\/span><\/p>\n<p><a href=\"https:\/\/newmoneyreview.com\/index.php\/2021\/10\/05\/fighting-the-crypto-scammers\/\">Fighting the crypto scammers<\/a><\/p>\n<p><a href=\"https:\/\/newmoneyreview.com\/index.php\/2021\/08\/04\/did-binance-cover-up-may-19-liquidations\/\">Did Binance cover up May 19 liquidations?<\/a><\/p>\n<p><a href=\"https:\/\/newmoneyreview.com\/index.php\/2020\/12\/10\/to-be-human-is-to-deceive\/\">To be human is to deceive<\/a><\/p>\n<p><a href=\"https:\/\/newmoneyreview.com\/index.php\/2021\/05\/05\/a-cryptocurrency-sceptic-speaks-out\/\">A cryptocurrency sceptic speaks out<\/a><\/p>\n<p><a href=\"https:\/\/newmoneyreview.com\/index.php\/2021\/12\/15\/coinbase-kraken-etoro-censured-for-uk-crypto-ads\/\">Coinbase, Kraken, eToro censured for UK crypto ads<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the latest New Money Review podcast, psychotherapist Tony Marini talks about the growing problem of addiction to cryptocurrency. Tony Marini Marini, a specialist in gambling addiction, works at the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1013,1053,1026,1011],"tags":[2089,2090,2088,2087],"class_list":{"0":"post-6813","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-account","8":"category-featured-1","9":"category-latest-slider","10":"category-value","11":"tag-addiction","12":"tag-castle-craig","13":"tag-gambling","14":"tag-tony-marini"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The growing problem of cryptocurrency addiction - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2021\/12\/16\/the-growing-problem-of-cryptocurrency-addiction\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The growing problem of cryptocurrency addiction - New Money Review\" \/>\n<meta property=\"og:description\" content=\"In the latest New Money Review podcast, psychotherapist Tony Marini talks about the growing problem of addiction to cryptocurrency. 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