Reddit forum 'but Buttcoin' mines comedy gold instead of Bitcoin

A Reddit forum devoted to skewering cryptocurrencies investors and the industry s neverending scams says it is mining comedy gold instead of Bitcoins, which it prefers to label Buttcoin. The Buttcoin community, which is home to 135,00 members, arose in 2011, well-ahead of the current bear market in the industry that has wiped out some people's savings. According to the Guardian, the subreddit's emblem is gilded butt-cheeks.

You can learn how smart money is playing the game of criptocurrency.

Buttcoiners take widely used catchphrases by Bitcoin boosters like going to the moon and derisively supplant them with going to the floor. They also label objectively catastrophic events as good forBitcoin, such as when a country levies a nationwide prohibition oncryptocurrencies or an entire criptocurrency bankrupt, leaving destitute creditors in their wake. The high environmental footprint associated with mining is one of the issues that have gripedBitcoin, along with its lack of utility in the world.

In recent months, there has been an increase in groups about the failure of decentralized finance and cryptocurrencies. These places are seen as an antidote to the often breathless coverage of Cryptocurrencies in some corners of the internet, as Molly White's web 3 is going great to the Cryptic Critics' Corner podcast.

Some subreddit users get a dopamine hit when the price ofBitcoin falls, according to the Guardian. A Redditor named Joe told the Guardian: "I definitely get hopeful when it starts seriously dipping or when some stable coin scheme goes to zero."

Even Joe has the self-awareness not to plunge too deeply into schadenfreude: Even if they are assholes, I don't relish the idea of the average investor losing their life savings even if they were able to see the scam for what it is. That sucks.