Reddit Crypto News Exchange/Betting Sites
/r/Cryptocurrency
In the nerdy crypto world of Reddit, the Grand-Daddy of them all is and has been /r/Bitcoin. /r/Bitcoin has been the longest standing crypto subreddit with the most members. However, nipping at the heels of /r/Bitcoin is Reddit Cryptocurrency, otherwise known as /r/Cryptocurrency. This subreddit is specifically more broad in scope than /r/Bitcoin and allows discussion of all altcoins, blockchain technology derivatives and similar discussions than does /r/Bitcoin.
The major benefit to Reddit Cryptocurrency has been that users can get exposed to a wider variety of technologies, innovations and developments in the cryptocurrency industry as a whole. With a wider tolerance of ideas, there is a larger flow of information from sources to prying eyes eager to learn more about blockchain technology. However, with the broader scope of /r/cryptocurrency comes with it a few costs. Most notably, there have been many accusations of “shilling” or effectively secretly paid advertising on the website to promote dicey altcoins on uninformed consumers. And with the huge array of available altcoins out there in the world, it is hard for the subreddit to maintain a proper focus on any one particular item, even if it is worthy of extra legitimate attention.
News Exchange
Reddit Cryptocurrency is probably best suited for basic levels of consumer awareness of both new and legacy crypto products that are on the market. One could argue that by going to /r/cryptocurrency that you should keep a skeptical eye for all of the available projects and to do your own research. For projects that look particularly interesting within /r/cryptocurrency one would then be best suited to go into further niches such as the subreddit particular to any blockchain product of interest or to research the company or coin via search engine.
Alas this makes Reddit Cryptocurrency one of the first places for major news outlets, new providers and consumers to see a proper news feed and stream of information as it hits the market. From here, all else equal, the market will disseminate information and decide if it is worthy of attention or not. The better products will, on average, work their way to the top of the news feed for the day and be shown to more eyeballs.
However, the voting system on Reddit and in particular all of the crypto subreddits are notoriously easy to game to one's advantage with simple vote buying and by the use of sock puppets. This creates an inherent amount of distrust in the system because some percentage of the time you will be seeing properly upvoted cryptocurrency products on Reddit but some other percentage of the time you will be seeing shilled products simply marketed in some fashion to achieve the higher points of the leaderboard.
Betting Sites
As has frequently been the case since the inception of cryptocurrency and Blockchain technology has been the introduction and sustainability of Bitcoin betting sites within the ecosystem. A lot of websites are vetted for appropriately and the best Bitcoin gambling Reddit sites are frequently given more attention on the /r/cryptocurrency websites than are the unimportant betting sites.
It goes without saying that community trust is one of many important factors in helping decide which Bitcoin betting sites are more legitimate than others. Reddit Cryptocurrency news does manage to create awareness around this topic, somewhat available supported by anecdotal customer experiences and upvoting.
Final Thoughts
/r/cryptocurrency is a great way to get broad exposure to the many things that are happening to Bitcoin and other cryptos all at once. But it is only one source that can also be manipulated. So definitely feel free to navigate over to Reddit Cryptocurrency and see what is happening in the world of Blockchain to stay educated and informed on the topics and to delve further into the topics that are of the highest interest to you.
As an informed and skeptical consumer of information on Reddit Cryptocurrency you will be able to better appreciate the knowledge that is cycled through the news feed and more easily be able to make smart decisions to improve your financial well being. As Warren Buffet is famous for saying, he only likes to invest in things that he understands. Similar logic could be applied to /r/cryptocurrency. Before you consider investing in any products that you see listed there, make sure you have a deep understanding of the team, what it is they are trying to accomplish, and why there is a need for their particular cryptocurrency or if there is a need for a cryptocurrency, why it is needed over something such as Bitcoin.
