Study States Bitcoin to be Most Popular Cryptocurrency on Reddit


One of the most popular Cryptocurrencies on Reddit having an average of 3,600 comments about the digital currency has been posted on a daily basis. On the contrary, Ethereum and Monero (other two types of Cryptocurrency) are the protagonists of 500 and 380 comments posting daily. A brand new research paper by the Pacific Northwest National Laboratory has been published that analyzed three years worth of discussions on Reddit from January 2015 to January 2018. The findings about Bitcoin, Ethereum and Monero were published in the report.

Being a part of their study, the researchers sought to measure the speed and the scale at which the discussions about Bitcoin, Ethereum and Monero spread. The paper also says that Cryptocurrencies are disproportionately used by the criminals and the hackers while their use has both political and economic implications.

To not much of a surprise, the researchers have found that not all the discussions get triggered in a comment but very interestingly, the rate of ineffective posts that fail to attract additional commentary is up to five times higher with Cryptocurrencies like Bitcoin and Ethereum than Monero.

Summing up the whole thing, the data showed that Redditors respond pretty quicker to the posts about the Cryptocurrency Bitcoin. For e.g., it takes on an average 11 minutes for someone within the Bitcoin Subreddit in order to post a comment. While, for Monero it is 20 minutes and Ethereum 27 minutes. It has also been seen that the discussions on Bitcoin grow the fastest. Considering the median lifetime, Ethereum possesses the highest while Bitcoin the lowest. The past researches have also suggested that the positive price fluctuations of Bitcoin were due to the criminal activities involved in using the Cryptocurrency for illicit trades.

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