Over the past few weeks, bitcoin markets have slid from the near $20K price region all the way down to $6K territory and there’s one crowd who is loving it every time bitcoin’s value dumps. The group called ‘Buttcoiners’ stem from the Reddit forum /r/buttcoin, and anytime something bad happens to bitcoin this band of proud internet trolls celebrate.
Over 18,000 Shills
The Reddit forum /r/buttcoin has been around for years now trolling bitcoin enthusiasts anytime the community receives negative news. Buttcoiners have a Twitter handle, a Buttcoin Foundation, and a very popular subreddit. Since bitcoin’s meteoric rise in 2017 and the subsequent price decline in 2018, Buttcoin subscribers have grown exponentially in number. Currently there 18,444 ‘Captains of the Industry’ subscribed to the Buttcoin subreddit, and there are around 855 subscribers ‘shilling’ right now. The group’s forum really started picking up significantly over the past six weeks during bitcoin’s 65 percent decline. Further, the administrators of Buttcoin say although they love to celebrate bitcoin’s failures the group doesn’t hate the cryptocurrency.
“I feel like every once in a while we must clear this up: Buttcoin is not anti-Bitcoin, it’s pro-comedy,” say’s Buttcoin’s Twitter account.
And Bitcoin produces a lot of comedy.
‘If Bitcoin Dies We Do Too’
Perusing through the group’s forum shows a lot of memes, negative bitcoin articles, and Twitter links to well-known figures who dislike bitcoin. For instance, you can often find Peter Schiff’s or Paul Krugman’s tweets being upvoted to the front page on /r/buttcoin.
Today Buttcoiners are celebrating the fact that the exchange Binance is temporarily down for maintenance and they’re making fun of bitcoin traders who are freaking out. They laugh at ICOs who scam people and run off with investor funds, while also poking fun at the tether fiasco as well. However, this week an original Buttcoin member who calls himself, “Barry Oners” stated