IMO, this screenshot sums up the state of the subreddit, with people putting their life savings into BTC at the (current) top of the market without any concept of hedging or sequence of returns risk (did anyone else buy at $16k after the $69k high?) Just thought I’d say this disappoints me and see if anyone else wants to chime in.
I am on Reddit for the value provided by some niche subs, some of which have zero overlap with the topics discussed on SN. I'm not in r/Bitcoin, because it's fiat-brained, statist and cucked.
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5 sats \ 0 replies \ @Fabs 8h
🤣, saw that, these guys are prime material for "I've been burned by my own stupidity, and therefore it's a volatile Scam!!1!1".
People like him and the general alt / meme-crowd are what gives "Bitcoin" such a bad taste, it's a shame.
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150 sats \ 1 reply \ @LNRocks 13h
Because for most people, bitcoin is gambling. They know nothing about bitcoin and they don't care. They buy bitcoin just want to be rich overnight, nothing else.
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Exactly! They don't understand that goal of BTC is not to get rich overnight/sell it! For me it's the best alternative to not depend too much on fiat and that's why I will HODL forever!
This was the reason Satoshi created BTC! As fiat can ruin people's life (2007-2008). Central authority is fking dangerous!
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133 sats \ 0 replies \ @DarthCoin 8h
If you do not see this when you visit Reddit, it means that your browser is shit.
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it's quite dangerous putting so much in without understanding at least a bit about bitcoin, people like that usually end up shitting themselves after a dip, taking a big loss and then develop bitcoin derangement syndrome
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Yup once bitcoin goes down 80% they will sell and cry and hate bitcoin forever. Those who are humble and can wait long term will benefit
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Whoah ... people still use Reddit ?
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Will SNs retain its integrity if it achieves hundreds of millions of users?
Is SNs integrity now even equal to that of reddits when reddit only had a thousand or so regular users?
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I’m interested in thinking more about that… especially considering SN is set up to have financial incentives that encourage growth
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I deleted social media and now that’s what I addictively check, but I suspect that’s on the deletion list soon too
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What is Reddit?
Reddit has: 73.1 million daily active users, 267.5 million weekly active users, Over 100,000 active subreddits, 26.4 million Americans who use Reddit monthly, and 330 million monthly active users.
:(
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What hedging or risk/return? That is fiat mentality. We are moving to Bitcoin to fuck the system.
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Well I hope he has the smarts to stack sats n not cry foul when the price dips
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why do that to yourself
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Reddit Is shit.
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Greed is at the moment more present...on all bitcoin forums as far as I can see. Yes reddit has sunk lower while SNs retains some altitude. I am a refugee from reddit bitcoin groups. It is nauseating to read the posts like the one you quote from reddit but realise too that paid social media consultants are active on all levels of social media- I detect them even here in SNs and as it grows they will only increase their narrative bending efforts. As I many thousands of times responded to posts such as the one you refer to, and still do at times- 'Only buy Bitcoin if you want to be part of the revolution seeking to build a monetary system alternative to the fiat debt slavery bankers cartel that owns your government'.
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0 sats \ 1 reply \ @Manikese 6h
What’s the difference between reddit and subreddit?
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Subreddits are what we call here territories
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The Bitcoin subreddit was awesome few years ago, but now its just ruined by people who try to brainwash eachother and spread a lot of misinformation. I wish few smart people who are still there shift to SN!
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