By Jayant Singhal
The ‘Application’, just launched by a Scottish hospital as a unit to help in the rehab process of people who have been indulged in the activity of trading cryptocurrencies a lot, seems to be drawing a lot of attention.
Apparently, the boundless growth of cryptocurrencies and its mainstream adoption tends to coincide with its proponent’s view that the trade of cryptocurrencies (with many other digital currencies) is rather similar to a bet on the future.
Its development would push the pace for the decentralised technological advancements that would surely ruin the current system of banking, payments & fiat currencies.
Nevertheless, gambling would still be gambling, doesn’t matter if it is based on some kind of rational or adaptive expectations.
Like all its other forms, it could have a severe impact on the health and could be strongly addictive in nature.
Cryptocurrency = Gambling
In light of this scheme, the Scottish hospital, Castle Craig has launched a rehabilitation program that would aid the people addicted to indulging themselves in the exchange of cryptocurrencies like bitcoins, ethereum, etc. to a damn sight extent.
“Cryptocurrency users can get hooked by the volatile fluctuation of prices online which creates a ‘high’ when they buy or trade a winning currency,” said Castle Craig Hospital in a press release. “This can be exciting but also addictive and, like gambling addiction, can be financially disastrous.”
Castle Craig seems to have developed a comprehensive set of questions that could test whether you are an addict or not, and to what extent your craze for such trading activities is justifiable in terms of your health conditions.
As soon as the bitcoin witnessed three consecutive downfall streaks; from its crest in December 2017, it has lost 62%, and since Jan 7, the aggregate value of all cryptocurrency bundles has slumped around $500 billion (Coinmarketcap data suggests), the news about the launch of this application-cum-program was already in the air.
According to the hospital authorities, such an addiction is more prevalent amongst youngsters, or among those usually indulging in the environment that promotes the aroma of gambling and its intricacies; like the betting shops, casinos, etc.
Dr. Marks Griffiths who is a professor of behavioural addiction at Nottingham Trent University has reasoned that this addiction is similar to the one observed in other kinds of gambling activities. The hospital also seems to be flooded with the inquiries across the globe regarding this rehab program.
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