Buttcoin: A Place Where People Cheer Whenever the Bitcoin ($BTC) Price Goes Down

Recently, The Guardian took a closer look at the “Buttcoin” subreddit community, which was created in July 2011 and currently has around 137,000 members.

On September 9, The Guardian published a report about the Buttcoin community on the Reddit platform. One post that the report highlighted has the title “I’m addicted I need help”, which was written around three months ago:

“I just love watching line go down too much. I always tell myself ‘after it breaks through this next support line, you’ll be satisfied’ but there’s ALWAYS another lower level after that. It keeps falling and I keep watching and I can’t stop. Send help. Jk, don’t send help send popcorn.“

The report went on to say that “one tech industry worker who frequents Buttcoin told the Guardian they stayed up until 3am one night to watch the crash unfold.” This person said:

“I know this may sound pathetic but I get a dopamine hit when I see the bitcoin price going down. It was so exciting.“

The report added:

“Just like the crypto culture it mocks, Buttcoin has its own set of memes. Some of them simply flip crypto sayings. Instead of baying for token prices to rise ‘to the moon’, Buttcoin users chant ‘to the floor’. But Buttcoin’s most popular jokes take pro-crypto logic and push them to sarcastic extremes. To skewer crypto promoters’ habit of spinning negative news, Buttcoin users comment ‘This is good for bitcoin’ under stories of cryptocurrency catastrophes. (Bitcoin’s been banned in a major country? Good for bitcoin. Bitcoin’s price is plummeting? Good for bitcoin. Someone lost their life savings to a bitcoin scam? You guessed it… good for bitcoin.)“

Another Buttcoin post highlighted by the report was written around four months ago, and it is titled “My boyfriend’s whole ass job is crypto and I can’t wait for this shit to be over”:

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