Whether or not you observe Reddit and even actually knew what it’s earlier than 2021, you virtually actually know concerning the on-line dialogue neighborhood now. Reddit customers drove lots of motion and dialogue when it got here to creating meme shares and the positioning has been a serious supply for individuals seeking to speak about cryptocurrency.
“In 2021, there have been a lot of conversations on Reddit, however none extra outstanding than cryptocurrency,” the corporate wrote in its year-end report. “For greater than 10 years, Reddit has been dwelling to over 500 cryptocurrency communities. As extra Redditors take part in dialog, whether or not or not it’s for info, assist, or to share main successes, Reddit continues to be the hub for cryptocurrency fans.”
Many individuals have points with Reddit — it is largely a self-regulating neighborhood, so it isn’t at all times credible — you possibly can’t argue that the corporate was a serious driver when it got here to cryptocurrency dialog in 2021.
What Drove Crypto Dialogue on Reddit?
Reddit posts acquire visibility as customers “upvote” the submit. Principally, the extra customers who like a submit, the extra who’re prone to see it. The corporate shared the 5 posts which had essentially the most upvotes.
- r/dogecoin: Who’s still holding $DOGE? 🚀(80.3K upvotes)
- r/superstonk: All the confirmation bias I need, right here in one tweet (66.5K upvotes)
- r/cryptocurrency: You hear about the kid who put in $500 into a memecoin and made 100k, but you don’t hear about the hundreds who put $1000 and are left with $0.1 (53.9K upvotes)
- r/amcstock: AMC YOU IN JAIL, CHEATERS (26.7K upvotes)
- r/bitcoin: Tesla buys $1.5b in Bitcoin and is looking to accept the crypto as a form of payment in the near future… (45.5K upvotes)
Reddit additionally shared plenty of information about its crypto discussions and communities.
Reddit and Tesla CEO Elon Musk Loom Over Crypto
Whereas it isn’t at all times the very best supply for info (since in style doesn’t at all times coordinate with appropriate), it is unimaginable to disclaim the platform’s affect.
“Choices on how and when to take a position had been made principally after consulting Reddit, with over a 3rd of crypto holders getting their info there,” in line with a survey by Gambler’s Pick.
Reddit was not, nevertheless, the only largest affect over crypto in 2021.
“The one supply extra influential was a single particular person – Elon Musk –whose tweets have been identified to influence Bitcoin tremendously. In a single occasion, a tweet from Musk plummeted the worth of Bitcoin to beneath $30,000 – a low for this fluctuating forex,” in line with Gambler’s Choose.
