Bitcoin (BTC), Ethereum (ETH) and Monero (XMR) are the most popular Cryptocurrencies on Reddit according to study
Crypto Reddit and Crypto Twitter is where most of the discussions on Crypto happens, while Crypto Twitter is known to be more vicious Crypto Reddit is comparatively sober with discussions focused on topics instead of individuals.
A new research paper has emerged from Pacific Northwest National Laboratory analyzing the activity on Crypto Reddit. The paper which is titled “Characterizing Speed and Scale of Cryptocurrency Discussion Spread on Reddit” analyses discussion around Cryptocurrencies in the subreddits r/Bitcoin, r/Ethereum and r/Monero for a period of three years from January 2015 to January 2018.
According to the paper, Bitcoin came at the top with an average of 3600 comments posted every day on Reddit. This was followed by Ethereum with 500 comments and Monero with 380 comments every day. Comments on Reddit posts are an important metric as it signals about the engagement in the community.
The paper states:
“Our results demonstrate that while the largest discussions on Reddit are focused on Bitcoin, posts about Monero start discussions that are typically longer and wider. Bitcoin posts trigger subsequent discussion more immediately but Monero posts are more likely to trigger a longer lasting discussion. We find that moderately subjective posts across all three coins trigger larger, longer, and more viral discussion cascades within both focused and general communities on Reddit”
The three Cryptocurrencies represent the most compelling use cases of Blockchain hence triggering the most discussion, Bitcoin as sound money not controlled by any government, Ethereum as a Turing complete smart contract platform with the most active developers and Monero a Cryptocurrency with strong privacy features.
According to the study, Bitcoiners are the fastest to comment on the posts taking an average of 11 minutes, followed by Monero – 20 minutes and Ethereum – 27 minutes. The paper also highlights that comments about Monero are five times more effective than Bitcoin and Ethereum meaning they generate further discussions in the thread.
Overall the paper seems to highlight a lot of negative aspects of Cryptocurrencies like its use in criminal activity. The paper states that Cryptocurrencies “are disproportionately used by criminals and hackers, and their use has political and economic implications.”
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