8 signs you're crypto obsessed

← Back to articles

8 Signs you’re crypto-obsessed

January 10, 2018 9:00 am Published by

The cryptocurrency market has been crazy this year.

It’s easy to see why many people are obsessed with Bitcoin and altcoins. Relatively speaking, it’s a new arena. It’s constantly evolving. It’s open to anyone with the time and money to get involved – and it’s always exciting to be an early adopter. It can be complicated and takes hard work to fully understand. Bitcoin is also a controversial, divisive topic which lends itself to strong opinions and heated discussions.

Here are 8 signs you’re crypto-obsessed.

1. You’ve signed up to multiple wallets, exchanges, Bitcoin debit cards and other technologies

You have compared the pros and cons of each and debated their merits in search of the best.

2. You have to check out new cryptocurrencies and diversify

The number of cryptocurrencies available online is changing every day. As of late mid-December 2017, Coinmarketcap.com lists 1368 cryptocurrencies. You’re quick to assess the merits of new cryptocurrencies and to buy those you see as promising.

3. You have a pre-prepared Bitcoin elevator pitch

When you meet someone who doesn’t understand Bitcoin or why it’s significant, you have a pre-prepared speech explaining what it is, the benefits and why they should get involved. You also enjoy correcting people’s misconceptions.

4…And pre-prepared answers to FAQs about Bitcoin

After your elevator pitch, you know which questions you are most likely to hear:

  • “So what does ‘mining’ mean anyway? Where does Bitcoin come from?”
  • “Is Bitcoin ‘real’ money though?”
  • “How do you use Bitcoin?”
  • “What, you mean there are no banks involved? What about the government?”
  • “What if someone hacks your wallet and steals all your Bitcoins?”

Luckily you have your answers ready and you make an effort to word them in the simplest way possible. While still making sure they know you’re a pro.

5. You check the price of Bitcoin first thing in the morning

As Bitcoin prices continue to reach new heights, your first action each morning is to check the price. And you probably check it numerous times throughout the day too. A new high puts you in a good mood, while a drop ruins you.. at least until you’re up again.

6. You get excited when a new company starts accepting Bitcoin as payment

You’re desperate for cryptocurrencies to become mainstream. Each time a new company starts letting customers pay in Bitcoin (or a charity starts accepting donations) you see it as a positive step towards more practical uses.

7. Your social media and inbox are dominated by Bitcoin

You subscribe to r/Bitcoin (subreddit) and other related forums, where you are an active part of the community. You follow numerous Bitcoin related accounts on Twitter. You’ve joined Facebook groups. You’ve signed up to cryptocurrency blogs and mailing lists. Maybe you dive into Bitcoin conspiracy theories or debates about the identity of its founder. In short, it dominates your news feeds and inboxes.

8. You get annoyed at people who are only in it for the money

You’re motivated to own Bitcoin as much for political and philosophical reasons as financial ones. It’s not just about the money – although you don’t exactly mind that part.

Does this sound all too familiar to you?

Join our community forumtelegram chat, and stay up-to-date with our blogs to discuss your obsession.

Notable Replies

  • Satoshi24

    Whenever I’ve gone to sleep recently, I’ve started to dream about about Bitcoin, Dash and Ripple! Maybe this needs to be added to the list! Anyone else?

Secret Mining Society – are your devices being cryptojacked?

Cybercrime takes a near-infinite number of forms. As technology advances, criminals develop novel and ingenious ways to exploit vulnerabilities. Wirex Staff Writer Gemma Doswell takes a closer look at the insidious art of ‘Cryptojacking’. A brief history of hacking Hacking first emerged as a malicious term in the 1970s, when early hackers (known as ‘phreakers’,… View Article

9 industries that use blockchain

Blockchain technology is starting to gain traction in the mainstream. Its efficiency, transparency and versatility appeal to consumers and businesses alike, making wide-scale adoption likely in the coming decades. Recognising blockchain’s potential to disrupt traditional infrastructure, many industries have started integrating the technology into their business processes. Financial services companies are amongst the early adopters… View Article

Confessions of a Litecoin enthusiast

Finally… as of this week… Litecoin is live on Wirex! It’s absolutely one of my favourite, favourite, favourite cryptocurrencies. Personal friends know I own Litecoin — and I think it has a good chance to become a ‘household name’ by 2019. It’s faster than Bitcoin, cheaper than Bitcoin, ‘lighter’ than Bitcoin. Litecoin also went up… View Article

Bitcoin mining – a waste of energy?

Bitcoin mining uses energy – a lot of it. So much so, that in 2017, Newsweek declared mining for the cryptocurrency will ‘consume all of the world’s energy by 2020’. It’s a fanciful headline but the fact that Bitcoin mining uses more energy than some entire countries in a single year, does make it hard… View Article