Bitcoin subreddit page, /r/Bitcoin, has just reached one million subscribers, Coin Telegraph reported earlier this week. It has become one of bitcoin’s most important online communities since it was founded in September 2010, two years after the release of Satoshi‘s white paper.
This significant milestone is welcome news for the bitcoin and wider crypto community following the recent slump in the price of BTC that began in mid-November.
Max Kordek, Co-founder and CEO of Lisk , commented on the news:
Reddit bills itself as ‘The Front Page of the Internet’ and, as the sixth most popular website in the United States, this is no overstatement. As such, /r/Bitcoin reaching one million subscribers is a significant moment for the bitcoin community. I joined the page when it had around 30,000 subscribers so it is great to see first-hand how far we’ve come as a community.
Blockchain protocols are technically complex and success relies on the knowledge, experience, and community-driven ethos of a multitude of people. The /r/Bitcoin subreddit is for anyone who has an interest in cryptocurrency, as well as its underlying blockchain technology, to actively engage in discussions and debates that influence its direction — or, equally important, just wants to learn what it is all about.
Craig Mc Gregor, Co-founder and CEO of DSTOQ, said:
The Bitcoin subreddit milestone is proof that despite recent price volatility, there is an increasing interest and curiosity towards crypto. Beyond reddit, there are more and more conversations in this space consolidating around online channels such as Twitter. Digital currencies, such as bitcoin, are currently the most tangible application of blockchain technology. This will not always be the case, as we see more development in the space for further blockchain-based solutions to a number of issues. For example, momentum is building around blockchain technology’s capacity to provide emerging markets with access to traditional financial markets, from which they were previously excluded. Borderless, decentralized exchanges also provide liquidity for investment; access to stocks, shares, and commodities; as well as opening up micro-investing to billions of people around the world. People are watching this potential closely – and I don’t anticipate this will change any time soon.
Frank Wagner, Co-founder and CEO of INVAO, added:
Changes in price can seem drastic and will naturally create scepticism about the future of cryptocurrency in some quarters. However, the recent news that the bitcoin subreddit hit one million followers shows that interest in the technology’s potential is not decreasing as people continue to show enthusiasm towards the adoption of crypto and blockchain technology. Bitcoin will remain a reference point for members of the public in the short term and that is only natural, although other coins and tokens will increasingly assert themselves into the public consciousness in due course.