The number of subscribers for bitcoin subreddit /r/Bitcoin went beyond 150,000 users mark. The ‘community’ now ranks the 199th on reddit.com in terms of the number of users. /r/bitcoin reached its highest mark last spring, holding its 180th position for more than a month.
“Just for the record, /r/bitcoin is still holding on to 199th spot in overall reddits. If any of you is inclined to run a reddit ad to support bitcoin now might be a good time to do it,” writes user under nickname secret_bitcoin_login.” The highest we’ve ranked has been #180 from 3/31/2014 – 4/6/2014.”
The /r/bitcoin subreddit users discuss the latest events and news related to the bitcoin industry. The recent price slump of bitcoin as well as the new cryptocurrency exchange, opened by Coinbase, are among the main topics being commented on the subreddit now.
The users posted a lot of comments congratulating each other on surpassing the 150,000 mark. “I’ve said all along, this is a much more important metric to consider than the price,” writers thesleepsessions. “We’ve come a long long way from the days I used to frequent here at just under 30k users, magic.”
Despite a number of negative comments, some people argued that bitcoin has a potential to grow in the future.
“Well people are using Bitcoin, we know this the blockchain is increasing in size exponentially over the last three and a half years or so. I don’t know enough calculus to make better predictions but as it stands it looks like the huge number of transactions across the network will make it go asymptotic in just two or three years,” wrote one of the subscribers.
“Yes, yes… 1mb block length, concerns on scalability, etc. etc. It’ll be an interesting future for the currency. But what I’m saying is you can’t really say Bitcoin is dying when it’s being used more now than at any point in its short history,” the user added.
Currently, /r/bitcoin holds donations of more than 22 bitcoins and, according to the administrators, the money is planned to be spent on advertising. The sidebar on the subreddit provides 10.35799117 bitcoins as the amount of digital currency that has been used for the subreddit promotion.
Notably, one of the administrators, known as theymos, is also the administrator of the Bitcoin forum on bitcointalk.org.
Reddit is divided into different subreddits, including /r/music, /r/news, /r/science and many others. The subscribers, also called Redditors, can place downvotes and upvotes to a post showing if they like it or not. Posts which received the largest number of votes are ranked higher on the front page of the subreddit thus becoming more noticed.