Bitcoin is remarkably popular for many reasons. While many people see it as a means of facilitating cash transactions, others have tagged it as a security with the potentials to yield great returns.
Bitcoin (BTC) popularity is undoubtedly growing not just among tech-savvy millennials but among people who seek an alternative to the exploitative tendencies of traditional finance. Bitcoin though without a spelled-out yardstick for measuring its popularity has just been noted by a Reddit user to have gained more subscribers than the sex subreddit channel as well as the other popular subreddit channels.
The Redditor u/farmingOnYieldApp posted the update stating:
“The World is Changing. With 1,707,705M subscribers, Bitcoin subreddit just took over r/DeepIntoYouTube with 1.704M and r/sex 1.697M subscribers.”
The figure shows that the number of Reddit users that are becoming more interested in the Bitcoin topics and discussions are growing and these may be attributed to the recent backing PayPal Holdings Inc (NASDAQ: PYPL) has given Bitcoin by launching the PayPal crypto payment service that will allow users pay for goods and merchants receive payments for goods with BTC, BCH, ETH, and LTC.
In profiling Bitcoin’s popularity, a fair comparison has also been made to the other popular Reddit channels and while Bitcoin outperformed many, its popularity still has a long to go when placed side by side with the more renowned subreddits. With the Bitcoin subreddit at over 1.707 million subscribers, the number also surmounts the Christian subreddit r/TrueChristian with barely 55.5k subscribers. The r/Sports subreddit however dwarfs the Bitcoin subreddit as it boasts of 18million fans as well r/Gaming with 28.3 million members.
Bitcoin Popularity and Influence Inspired Game-Changing Innovations
A journey down the memory lane will help us understand the role of not just the popularity of Bitcoin but its influence in drafting innovations into the crypto sphere. The man behind Bitcoin who is popularly known by the pseudonym Satoshi Nakamoto is himself an enigma that many still try unravel to date. Satoshi’s ideologies can be summarized as an effort to empower the common man by creating an alternative means of finance from what the traditional financial system offers.
This fundamental ideology has inspired the debut of other unique cryptocurrency projects too numerous to count to date. Many of these innovations are remarkably showing a tilt that offers more value to truly live the dreams of Satoshi by removing the role of the middlemen and centralized governing authorities in financial transactions. From this, decentralized finance was birthed and the momentum they are gaining today may have no bounds.
Bitcoin is remarkably popular for many reasons including its volatility. While many people see it as a means of facilitating cash transactions, others have tagged it as a security with the potentials to yield great returns over time. A look at the growth in the price of the asset over time is an attestation to this and the coin is currently trading at $12,787.77 and has surged over 60.06% year over year according to Coinpaprika.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
