I had a conversation with my colleague yesterday about how he developed a suddenly large appetite for risk. All of a sudden he's willing to put in 'big money' in any project with the potential for generating returns, even though he looks at recovery in the short and medium term.
The response I got was very relatable and somewhat expected. He stated that he was tired of struggling to pay bills on a consistent basis and simply needed a break. Crypto for him provided that window of opportunity and he wasn't going to let it slip. This mindset isn't shared By him alone though, as am sure there are more than a few investors today who have reached a breaking point in their regular financial struggles.
It isn't like there is anything wrong in contending. As humans we are built to contend and excel. Many have accepted life to be a constant struggle and no one can blame them. The major issue is that struggling with no headway or potential for winning will negatively impact us in the long-run. Living paycheck to paycheck is seriously not as exciting as it sounds, especially when the chips are down.
It isn't like it is a case of greed though. Contentment is often emphasized when it comes to finances and I see it as the fundamental financial lesson one needs to learn in order to truly be successful. However, there is a difference between being content and not having enough to meet even the most basic needs. In the latter scenario, one often has to deprive themselves of several things and it becomes quite the challenge to continually do so.
Crypto has provided that opportunity for people to transform their financial status permanently even at its experimental form. Call it what you want, but some people have been able to acquire wealth through this means that they probably wouldn't have gotten in their lifetime otherwise. The effects are generally positive, even though it is necessary to state the obvious about greed and losses.
Being greedy isn't the same as wanting a better life. People are often Driven by the thoughts of riding big cars or owning big houses that they end up making unwise moves in the crypto space. Even those who are financially well-off are tempted by the prospect of making quick returns and adding to their stockpile of wealth.
Getting tired is the only way out of financial stagnation. No one wants to be in a situation where they cannot grow. Having to pay the bills is one thing, but struggling to do so is another thing entirely. We certainly have fewer options than what the crypto space provides for us.