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Author Topic: Bitcoin is now a default subreddit.  (Read 564 times)
lovelyjohson
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April 11, 2013, 05:07:41 AM
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http://www.reddit.com/

Turn off adblock, don't log-in and you'll see it at the top, at the far right next to 4chan if your screen is wide enough.
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itzzzAlice
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April 11, 2013, 05:08:54 AM
 #2

Wow this is good news. Yayyyy. Though I do tired of the meme trash.
JordanL
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April 11, 2013, 05:20:09 AM
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We're quite an interesting bunch to watch these days. Very few other places on this earth can a small group of people lose hundreds of millions of dollars of wealth in an hour without anything being wrong. 
lovelyjohson
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April 11, 2013, 05:49:15 AM
 #4

How is 4chan a default a subreddit, so I think we need a blog post to prove this, cause I am not seeing.

Marking this as FUD
Again, you need to be not logged-in, not have RES and have a screen wide enough to see it.

http://stattit.com/
123kidbp
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April 11, 2013, 05:54:29 AM
 #5

This is big news.

I think with this crash today, more people will take notice of BTC. So this crash might turn out to be a good thing. Even bad publicity is good publicity.
TheHalfWit
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April 11, 2013, 05:56:32 AM
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About time, they've been gaining popularity pretty solidly.
stevendevlin
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April 11, 2013, 06:10:43 AM
 #7

Not good IMO. The quality of that subreddit has been going down quickly, and I doubt this will help. Bigger communities always have lower quality content (I think its because it appeals to a wider group of people).

I guess it could bring some attention to bitcoin but if they take it like a get rich scheme like nearly everyone else has for the past month, this will only harm bitcoin's long term viability.


Edit: Just checked and bitcoin is no longer a default subreddit. I think it may have been because 5k+ people were on that subreddit all day.
spontainer
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April 11, 2013, 06:46:17 AM
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Unfortuantely I suspect the quality of that subreddit will degrade quickly do to the following reasons:

1.  Genuine disgruntled users who did not read the fine manual, get the right advise, or just followed lazy protocols in their first bitcoin dealings but ended up getting ripped off in a transaction or losing their BTC for some reason.

2.  FUD posts about illicit activity paid for with bitcoin, regulation changes, tax reporting, guilt by association, scammers, ponzi schemes you name it.  These strawman arguments will be posted by paid posters to spread the FUD. 

3.  "Experts" will come out with all sorts of claims to discredit bitcoin, like a lot of what I have been seeing in the MSM, people that have no clue about the actual architecture but have an agenda to write  about passed down from their editor.

This is going to be a crazy market for the next 6 months, and the publicity is going to be all over there place, both good and bad in extremes.
joemmm
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April 11, 2013, 07:16:55 AM
 #9

This is going to be dying market in next 6 months.


We now have mainstream articles (Guardian, etc.) about bitcoin crashing and even that subreddit isn't pillar of optimism right now.
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April 11, 2013, 07:58:27 AM
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I'd like to understand what you mean by "dying market". 

I read the Gaurdian articles of late, and keep in mind they have been covering BTC for a long time now. But, the latest articles have typical disinformation that has the odor of the beginning of a smear campaign such as this one by "Charles Arthur, technology editor" whose writings show that he is either completely clueless to the facts or is in fact on his own smear campaign:

"First, there's nothing to keep Bitcoin liquid. It's not like pounds or dollars; it's more like gold, which all the nations abandoned as an exchange standard decades ago for the very good reason that it leads you into recessionary patterns"- this is classic, because the opposite is true the majority of central banks were net buyer of physical gold in 2012 and are now repatriating it (see here: http://www.zerohedge.com/news/2013-01-14/it-begins-bundesbank-commence-repatriating-gold-new-york-fed).  Gold is incredibly liquid and universal and is mankind's oldest currency.  Don't believe me take your 14K gold necklace to a smelter and see what they offer you in cash (whatever currency they offer).

There are going to be so many naysayers come crawling out of the woodwork both in MSM and on sockpuppets on blogs.  I think a lot of people are going to be surprised at the results which will just raise awareness and drive a percentage of the masses to at least have a toe in the water with BTC.

I'm not completely cashing out to hop in the BTC pond, but will be taking a long term position (just like GOLD and SILVER PHYSICAL, if you own an ETF or paper gold you are essentially holding FIAT gold (see here: http://www.zerohedge.com/news/2013-02-02/gold-leasing-case-disappearing-gold) which is what the paper "paper" market has been turned into.  It has more counter party risk (even between the central banks) and is destined for a crash over the next decade.  Physical, however, will skyrocket much like BTC has the potential to do. 

My two cents is that BTC will not die over the next 6 months.  I believe there will be a lot of attempts to knock it down but there will be a lot of people in there for the long haul that will hold it up.



This is going to be dying market in next 6 months.


We now have mainstream articles (Guardian, etc.) about bitcoin crashing and even that subreddit isn't pillar of optimism right now.
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April 11, 2013, 12:27:03 PM
 #11

Nice!

revans
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April 11, 2013, 12:58:34 PM
 #12

Bitcoin currently $146 on MtGox. I think people who think the drop was the result of a small scale sell off or a DDOS (it was confirmed it was not) are kidding themselves. Too many speculators are corrupting natural price discovery.
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