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Decentralization is a tool to attain censorship resistance. The more avenues for debate, the better. Bitcoiners around the world depend on forums such as the popular Reddit.com bulletin board for candid, behind the headlines examination. In a year of striking all-time-highs, the subreddit /r/btc reached 100,000 subscribers this week. The ecosystem should celebrate the scrappy communication channel’s achievement, especially in the wake of campaigns to effectively shut it down.
Reddit.com/r/btc Shatters 100,000 Subscriber Ceiling
First mover advantages are darn-near everything when it comes to branding. Folks are creatures of habit, and when they imprint upon a source they tend to return to it. And so it has been a bit of an uphill battle for the two-year-old forum, /r/btc, to establish itself as a reliable source for Bitcoin-related crypto topics and information.
“Congratulations to the sub and the brilliant people here,” a subscriber enthused. “A shout out to the competent redditors, who day in day out reply with knowledge and patience to frequent trolls. I joined this sub, when there was approx 12.000 members and it has since become my favorite. This is the revolution and Bitcoin Cash is Bitcoin,” the subscriber said, ending with a contentious phrase known to get banned elsewhere.
Reddit is an aggregator, and it curates the web basically through ratings and discussion. Text, links, images, and votes are its main currencies. Subreddits run the gamut of fringe and funky topics, and bitcoin and crypto are often hot ones. It ranks 8th in the world in website traffic. The site has been around for more than a decade, and is an independent division of Condé Nast Publications.
Another subscriber remarked, “Back when this subreddit was the rebel subreddit of 5k subs I never imagined this was how things were going to play out. I’m so happy we’re such a large number to fight this unreasonable situation.”
This Unreasonable Situation
One sub-redditor winked: “Just remember one thing, although one might feel the urge to retaliate and upset others, abstain and keep in mind that progress is done by being reasonable and ignoring those who instigate otherwise. Respect others no matter how wrong their opinions or motives might be (cough-cough, Bitcoin Core, cough-cough).”
The passively eluded-to controversy has to do with accusations of Machiavellian hacks by a rival forum to trigger moderated crackdowns on /r/btc. It’s worth reading to draw your own conclusions, but it’s a bizarre coincidence at best.
A moderator explained weeks prior: “Although we may not be absolutely impervious to attacks I believe we’ve kept to our core principles of free speech and have provided a safe censorship-free environment here for anyone to partake in, from any side of the argument.”
The kerfuffle goes back to before /r/btc even existed, as detailed by last year’s brief history of the goings-on, also worth reading for those curious about the debate.
/r/btc is more than just inside-controversies. It’s rather joyful, and has perspectives not found elsewhere, from famous pizza reenactments using BCH, to valiant fundraising efforts to help North Korean refugees.
Again, draw your own conclusions. Read everything you’re inclined. Take it all in. But also be happy there’s a viable, thriving alternative.
Tell us what you think in the comments below about your favorite Reddit forums.
Images courtesy of Pixabay, Reddit.
The post Reddit’s /r/btc Reaches 100,000+ Subscribers in a Victory for Censorship Resistance appeared first on Bitcoin News.
On December 7, at 9 am EDT the price of bitcoin broke a new record as one BTC is now worth US$ 15,000 across global exchanges. Bitcoin trade volume has been exponential with over $ 14.7Bn BTC being swapped on trading platforms worldwide.
Bitcoin Reaches $ 15,000 Commanding a $ 250Bn Market Cap
The price of bitcoin has been on a tear over the past week and even more so during the past three days. In the last 72-hours, the price has moved over $ 3,000 in gains, and markets are showing feverish buy support. On December 6 when the price tackled $ 13K and then $ 14K, a large portion of volume stemmed from South Korean exchanges, most notably Bithumb. The KRW volume has dropped a touch, and the EUR has gained some significant steam. However, the Japanese yen still dominates bitcoin’s global markets at 47 percent. The top exchange today trading the most BTC is Bitfinex, as Bithumb has settled back into the second position. Following the Korean exchange is GDAX, Bitflyer, and Coinone. On Bitstamp, one bitcoin is roughly around $ 15,200 at the time of writing.
Looking at charts show the price has been extremely volatile with large swings over the course of the past 24-hours. The two Simple Moving Averages (SMA) still have a nice gap, but the 100 SMA and 200 SMA look as though they are getting closer. This indicates some sell-off may happen soon. Order books show massive resistance beginning at $ 15,300 all the way to $ 15,700. If bulls persist in breaking these zones, then the price could go upward even more at warp speed. Again since our last price report, charts indicate that buy walls are much thinner than the sell wall side. Which means the price could slide downwards with ease, and not much resistance on the way down. At press time there’s a strong foundation around $ 13,400.
Bitcoin proponents are either super happy or extremely skeptical as a fast run up like this one is causing some concern for a deep correction. Some bitcoin proponents believe the time has “finally come” and bitcoin is cementing itself into history. Others believe the decentralized currency has passed through a phase of maturity and is searching for its “fair market price.” Then there’s those speaking the word “bubble” regularly, and they expect bitcoin and cryptocurrency markets, in general, to burst at the seams.
Then there are those who think institutional money is coming into bitcoin due to the upcoming futures markets coming shortly from Cboe, CME Group, and other firms that have expressed interest. Whatever is driving this demand is causing individuals to buy up bitcoin at the highest price it’s been all year. And $ 15K per bitcoin is quite the feat!
Where do you see the price of bitcoin heading from here? Let us know in the comments below.
Disclaimer: Bitcoin price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images courtesy of: Shutterstock, Bitstamp, Pixabay, and Crypto Compare.
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The post Bitcoin Price Reaches Another Peak Crossing $ 15,000 appeared first on Bitcoin News.
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