The most dominant cryptocurrency in the world, Bitcoin, has been the most popular on the Reddit crypto community as the latest cryptocurrency news show. With an average of 3,600 comments about the digital currency being posted every day, BTC proudly holds the throne.
It is not weird to conclude that Bitcoin is the most popular on Reddit. The community there likes to talk about the cryptocurrency, its price and its direction in the future. On the other hand, the altcoin news show that Ethereum and Monero are triggering 500 and 380 daily comments, respectively.
All of these statistics were carried out in a new research paper by Pacific Northwest National Laboratory which analyzed three years worth of discussions on Reddit from the period of January 2015 to January 2018. The survey found that the Reddit crypto community is very active and had to measure the speed and scale at which discussions about Bitcoin, Ethereum and Monero spread.
As they said in the paper, the Reddit crypto community “uses cryptocurrencies disproportionately by criminals and hackers – and their use has political and economic implications.
The report featured on many best cryptocurrency news sites also adds:
“The way information about these novel distributive technologies spreads across online social platforms shapes online and offline discussions, and could potentially influence peoples’ beliefs and decision making. Thus, it is crucial to understand, explain, and anticipate the social behavior and communication patterns in the social environments surrounding cryptocurrencies to understand these phenomena and devise appropriate responses.”
Unsurprisingly, the researchers also found that not all comments in the Reddit crypto community trigger a discussion. Interestingly, however, the rate of ineffective posts – is up to five times higher with Bitcoin and Ethereum rather than Monero.
“Our results demonstrate that while the largest discussions on Reddit are focused on Bitcoin, posts about Monero start discussions that are typically longer and wider. Bitcoin posts trigger subsequent discussion more immediately but Monero posts are more likely to trigger a longer lasting discussion. We find that moderately subjective posts across all three coins trigger larger, longer, and more viral discussion cascades within both focused and general communities on Reddit,” the paper reads.
Overall, the data shows that the Reddit crypto community is very active and responds quicker to posts about Bitcoin then when commenting the coming altcoin news.
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“3. Prohibition of use By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that "Binance is unable to provide services to any U.S. person," - which is why the difference is obvious.
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