Bitcoin: Virtual currency addiction

Bitcoin, which has taken a large place in the economic agenda all over the world in recent years and has been mentioned frequently in our country since the beginning of 2017, is actually a virtual currency that is not tangible and invisible to the eye. At the same time, Bitcoin is seen as a value that you can watch as you sit in your home without getting tired and hard. However, discussions continue, stating that this rapid increase will fade like a balloon. Research, especially in recent months, one of the most searched topics on Google “What is Bitcoin and how to buy it?” shows that. Therefore, it is possible to say that Bitcoin arouses curiosity in people and addiction to people who own this virtual currency.

It can be said that Bitcoin’s promised dream of making money easily and getting rich creates a hypnotic power on investors and paves the way for addiction. Research on financial investments says dopamine hormone is triggered in the brains of investors as investments increase, but the dopamine hormone continues to increase, although the possibility of increasing investment is less or less predictable. The dopamine hormone is directly related to reward, and with its secretion, the brain pushes the person to seek pleasure. Therefore, dopamine is always at the forefront of addictive substances or behaviors such as smoking, drugs or gambling. Therefore, it should be kept in mind that dopamine is constantly increasing in Bitcoin users and pushes the person into addiction.

According to a research conducted on Bitcoin at Duke University, it has been found that if an event happens twice in a row, the human mind automatically predicts that it will happen again, and with Bitcoin investments rising for a few weeks in a row, investors’ belief that the increase will continue, although the future is uncertain. . Also, as the value of this virtual currency increases, people feel stronger that their predictions are correct and that they should trust their predictions more. With increasing confidence in predictions, they invest more or support their relatives that they should buy Bitcoin. Therefore, the number of people using Bitcoin is increasing day by day.

It is possible to observe that most people who invest in Bitcoin do not withdraw their money and wait. A study conducted by psychologists at Stanford University found that investors were not afraid of financial loss, but were concerned about the risk of earning less than other investors. At this point, the adrenaline that comes into play and the fact that the person actually enjoys the risk factors can be a determinant in the continuation of the Bitcoin passion and the increase in popularity.

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