Reddit is arguably one of the most respected online forums even though it does not have as many users as mega platforms such as Facebook. This is perhaps because it focuses on making it possible for individuals to come together and talk about specific topics, especially those that are trending in a somewhat professional manner.
The platform allows people, especially experts in various fields to come together and share information. The cryptocurrency market is one of the most talked about topics on the platform given its popularity. Bitcoin (BTC) is the most popular cryptocurrency and has definitely had its fair share of conversations held on Reddit.
Crowd Tangle conducted research which it identified that a lot of the discussions being held on Reddit mainly involve blockchain projects, stocks, and the forex market. This suggests that many people are using the Reddit platform to share information regarding revenue earning opportunities, particularly investments in the cryptocurrency, stocks, and forex markets.
The Platform has had a positive impact on the growth of Bitcoin from a learning point of view. Reddit is one of the best online forums which people have looked up to in order to learn more about Bitcoin. This includes talks on its performance, price predictions, and trading among other things. For example, one Reddit user identified as “Cryptoguru” has been teaching people about Bitcoin through the online platform for quite some time.
The platform is structured in such a way that it encourages positive discussions that enlighten others through its “upvoting” and “downvoting” features. An interesting comment can be upvoted and even start a string of conversation. On the other hand, downvoted comments disappear into oblivion and this acts as a siphon for making sure that good content prevails. This has played a significant part in spreading knowledge about Bitcoin and boosting its popularity as a result.
All cryptocurrencies have subreddits but Bitcoin due to its dominance and popularity has the highest number of subreddits. r/bitcoin is the top Bitcoin subreddit with more than 700,000 subscribers. It presents subscribers with an all-rounded opportunity of learning about Bitcoin, its price predictions, market trends and even allows subscribers to interact with people who mine Bitcoin and other enthusiasts of the cryptocurrency.
There are numerous other subreddits for Bitcoin and all of them have contributed towards educating people about the cryptocurrency in one way or the other. Reddit as a platform has been extremely helpful towards providing information and thus contributing to Bitcoin’s growth.
Comments (No)