A lot has happened in the world of cryptocurrencies and honestly speaking, there’s something new with the market every other day. Someday you’ll find Elon Musk upvoting a meme coin and on other days you’ll see crypto companies going bankrupt like a domino effect. This year has been largely about bitcoins reaching new ‘lows’ every other month and investors are definitely losing hope and interest.
While there are cryptocurrency experts who very firmly believe that the market will rise again and it’s just a correction or you could say a crypto winter that has hit us. What they don’t realize is it is certainly getting colder for investors with every passing moment. People have invested their life savings in cryptocurrencies because someone told them cryptocurrencies are the future without gaining any knowledge about them.
While there are cryptocurrency experts who very firmly believe that the market will rise again and it’s just a correction or you could say a crypto winter that has hit us. What they don’t realize is it is certainly getting colder for investors with every passing moment.
We don’t know what will happen with bitcoins and other cryptocurrencies but there’s one community on Reddit that finds every Bitcoin low hilarious! Anything bad that happens with bitcoins is cited as “good for bitcoin”. Formed in 2011, the community consists of around 135,000 Buttcoin enthusiasts and proudly call the subform Buttcoins and they are full of dark humor.
What are Buttcoins?
According to their website which is now not functional, Buttcoin is, “a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts. These tasks are managed collectively by the network. It’s like a bitcoin, but with butts instead.”
The members are funny and definitely find the lows of Bitcoins and other cryptocurrencies funny. At the Reddit forum, people make fun of crypto enthusiasts and share how hopeless they have become running after them. They are also present on Twitter at @Buttcoin.
Some of the discussions and memes that this community has are simply ROFL and again, HILARIOUS. They share the sentiment that the whole cryptocurrency sham will soon be busted. When it started out, the community didn’t want to see the market burn into ashes but just laugh at people (investors) through the journey.
The community has been in a celebratory mood because of the Bitcoin market conditions. Some people consider it a support group that helps them get through every new market low through humor. The members of Buttcoin say, instead of mining useless digital coins, they are mining comedy gold.
As noticed by The Guardian, the community has its own of mocking crypto-pro people. Sometimes they reverse certain crypto sayings like, “to the moon” becomes “to the floor”. And their popular technique is to use sarcasm on every negative thing that happens in the world of crypto. Like crypto followers have a habit of portraying every bad news with a good twist, the Buttcoin community contributes to it by commenting: “This is good for bitcoin”.
Bitcoin prices go down? This is good for bitcoin. The government of many countries is against crypto; this is good for bitcoin. People are losing their life savings by investing in crypto. Again, GOOD FOR BITCOIN.
The truth that lies behind all this
An IT worker who is the most senior moderator of Buttcoins told The Guardian that the community has evolved just like the overall crypto market. He added, “Originally the tone was almost entirely ‘Haha… that’s so silly!’ And certainly that element is still present, but nowadays there’s an increasingly tragic element of ‘Ugghh… so many people are having their lives ruined by this damn thing!'”
“Originally the tone was almost entirely ‘Haha… that’s so silly!’ And certainly that element is still present, but nowadays there’s an increasingly tragic element of ‘Ugghh… so many people are having their lives ruined by this damn thing!'”
The community also highlights the tragedy that some members are going through because of cryptocurrencies. The loss of a loved one because they lost all their savings to crypto, or someone else going through depression because of the same are some of the stuff people share about. One can read through the suffering and pain that lies beneath the jokes and memes that are shared while watching someone else getting hurt too. It is actually disheartening that so many people have been overlooked amidst the crypto chaos.
While the community cannot do much to destroy the whole cryptocurrency market, it certainly hopes to see the crypto market burn to the floor.
Featured Image Credits: buttcoinfoundation.org