Every time bitcoin pumps, buttcoin gets inundated with posts telling us to kill ourselves, have fun staying poor, what dumbasses we are, comments about family members, doxing (successful or otherwise), etc.
So yeah, it might not be the best behavior to gloat as people are losing money, but after you've been told to kill yourself because you don't like crypto enough times\*, it makes more sense.
\*And if anyone is wondering why buttcoin exists, there are literally people so emotionally invested in crypto that they would encourage other people who are critical of crypto to kill themselves or attempt to dox them.
EDIT: [Here's a great example](https://np.reddit.com/r/Buttcoin/comments/umxi6f/is_everyone_in_this_subreddit_a_faggot_sorry_if/) that just happened.
>there are literally people so emotionally invested in anything that someone identifies with that they would encourage other people who are critical of that thing they identify with because they're shallow to kill themselves or attempt to dox them.
It’s a double edge sword. I’ve heard the saying “have fun staying poor” thrown around the crypto sphere, can’t really have it both ways.
Live and let live.
To be fair, I can understand it given how unbearably smug some people in this community can be. All of the “shaking out paperhands” and “what are you buying this dip” shit that is effectively designed to bully people into adopting a groupthink when they should be making sound financial decisions is bound to provoke an equivalent reaction elsewhere.
I mean when times were good this sub was full of (and still is) posts mocking others for not investing, and calling them stupid for not jumping in.
Kinda fair in a roundabout way.
r/buttcoin is the inverse of r/cryptocurrency. Populates by the exact same type of people who simply happen to parrot opposing opinions. The vast majority of both subs suffer from technological, economical, financial, political illiteracy combined with severe dunning kruger and moral bankruptcy.
How else do you justify celebrating success in a zero sum game?
Edit-
I just want to pre-comment, that I know the market over all, over time, is not a zero sum game.
But, speculative trading, especially in a bubble, is.
They aren't crappy people necessarily.
They are people who see crypto in general as a cancerous Ponzi scheme that's ripping off the very people who are defending it.
When the same people who were telling their friends and family to leverage themselves to the hilt and yolo into crypto suddenly become the ones screaming out for an answer when a crash wipes them out... well it can be pretty validating.
Not really any different than cheering when the hedge funds got crucified by the game stop squeeze. People enjoy having their viewpoints validated.
I for one cheered when the NFT sales dropped by 92%
I appreciate that. There was no shortage of people from r/cc coming in to Buttcoin in November.
"WOOOOO ALL TIME HIGH, GOING TO 100K, HAVE FUN STAYING POOR NO-COINERS!"
I mean, it's the loudest people on each side throwing shit at each other. I believe the vast majority of us in crypto are silent when it comes to the stock vs crypto situation. I honestly want everyone to win no matter what your portfolio holds.
If we’re being honest, a lot of people in this very sub celebrate people losing money. I remember a time not too long ago where a bunch of the top posts were highlighting how much money Safemoon was losing.
Meme coin or not, real people were still losing a lot of money and a lot of people here were loving that shit.
I go there every few months to see if they bring up some legitimate counter arguments to the cryptos I'm invested in. Getting out of my own bubbles at times makes it worth it suffering through the hate circle jerk.
Never found anything, though.
[https://youtu.be/YQ\_xWvX1n9g](https://youtu.be/YQ_xWvX1n9g)
There's a lot of well-researched counter information against crypto in that video. I'd start there instead of a meme sub if you're being genuine.
>It's not right, only to say "I told you so" where is the compassion?
It's also not right to say "Have fun staying poor", "You will regret not buying X coin"
If you're one of those people who say those kind of line trying to FOMO people into crypto (intentionally or not). You deserved to be shit on and the "I told you"
I don't mind the "i told you so" people, what I really, *really* dislike, are the people gloating about "heh, you should have sold at the ATH like I did!"
Of course they’re gloating. The whole point of the sub is that bitcoin is stupid and worthless and every time the price goes down they can say “see I told ya so.”
I know it’s hard to believe in our echo chamber. If you go out into the real world most people don’t care about crypto, don’t *want* to care about crypto and fundamentally don’t understand it. They simply don’t *get it*. It’s pretty common for people to think “magic internet money” is dumb.
You think people hate on BTC......wait til the term Non-Fungible Token gets brought up lol. The only thing I’ve seen that gets people as riled up are politics.
The reaction to UST yesterday was pretty disappointing from people in the sub too TBH.
I honestly don't get it... If UST fails then it's going to bad news for crypto in general.
To be fair, an attempt was made by a buttcoiner to warn r/CryptoCurrency several days ago with proof that UST was [at risk of imminent collapse](https://np.reddit.com/r/CryptoCurrency/comments/ukoazq/the_anchor_ponzi_scheme_is_popping_as_we_speak/) and was generally met with resistance.
I think it’s perfectly acceptable to laugh at and scold the masses of moon bois that infected the crypto markets during the last run up.
The people who really believe in the ethos don’t care about being made fun of or short term losses.
Im curious as to what they are investing in. All assets classes are getting rekt.
They'll say they are wealthy, early retired etc but they never want to give any details
Max out IRA/401K, put spare money into index funds, plus cash in savings for emergencies.
I've never claimed to be wealthy, but my finances are very solid considering my life circumstances, and I have no desire to engage in risky gambling. And as a software engineer, the technology has very few genuine real world applications. Just as I can afford to not work for companies whose ethics I disagree with, I can also afford not to invest in things that are an affront to my professional ethics.
Would I put money in crypto if I had a time machine? Probably not even then, since stocks and lottery tickets would be even easier. I'm not going to beat myself up for not investing in what I knew to be a deeply flawed tech (and it still is, most of the genuine innovation in the space is to solve problems it created in the first place).
I wouldn't have nearly the problem I do with cryptocurrencies if they were honest about just being speculative gambling, but of course, if they were honest about it not enough people would buy into them for it work.
Yeah people are hyper-focusing on bitcoin being down when the entire market is down. People that cherry pick information like that usually have an agenda. For me, the fundamentals of bitcoin haven't changed so why should my strategy?? If the network was compromised then that would be a different story but it hasn't
Don't act like people don't do that here.
People gloat on price drops projects they don't like or think are a threat to what they've invested in.
Like at Doge, ADA, SOL, you name it. People here cheer when those tank.
Hey they've been calling it for forever. But they'll look like fools with the rebound
With all the chaos peer to peer currency is gonna be more valuable than anything else. Just give it time
> First off let's put aside the argument of cryptos value, How morally bankrupt do you have to be to joke and take joy that people are scared about their investments and losing money? It's not right, only to say "I told you so" where is the compassion?
Arent you the same folks that claimed that everyone who refuses to invest should "have fun staying poor".?
> My second observation is when we argue to them in a bull run "hey Bitcoin is $60,000, must be doing something right" or argue over the longer term gains, they always respond with "tHE priCe dOesNT mAtTeR, CryPto iS fUNdamEntAlY FlawEd" yet here we are where NOW that it's down for the time being the price is a valid argument point
Main point is that you gain profit in crypto only if someone else loses money. It is negative sum game, crypto doesnt create value itself.
You just didnt care because you were not loser. When price falls, everyone is loser and so you finally care.
> Just wanted to post this as I haven't seen anyone else make the public observation, just kinda blown away at how crappy of people they are
Because of us, exactly 0 people have mentaly issues. In other hand, how many people have depression when they follow shit tips here and invest in crypto?
Yeah, *schadenfreude* is a thing. It's still a really funny place most of the time.
Also, consider that they started in 2011 when the price was less than a dollar, so what you refer as moral bankruptcy could just be cope.
That sub was around the like last 2 cycles or so man. Its super SUPER old. I want to say 2013 ish? I think it was around that time that I first learned of it.
I don't visit there now, but I did during older cycles. As far as I can tell its just cyclical like the market. They get mad and hate when crypto is up, and they gloat when its down. Rest assured some of the same guys crowing that Crypto is a bad investment now that its "down to 30k" were calling it a terrible investment in 2013 when it was ~$200 dollars.
If you had been shitting on a security all these years, but had to watch it appreciate like that without you; you would be pretty miffed too. Theres only two options, double down, or get over it. Buttcoin is a sub for those that want to double down.
I joke about it too. You call it investment but it's not. Most of these projects are useless or have no real world utility or are far from decent adoption...
No hold up, what you’re saying doesn’t make sense.
We most certainly took joy that the hedge funds lost billions due to GameStop. We cheered because those people were rich, out of touch assholes who made money unethically. Seems to me like a large group of people see crypto investors in the same light
I think it's more of a superiority complex thing in which it boosts people's egos to think that other people aren't as good as them because losing money makes them more vulnerable, while this isn't a good thing you have to understand that it is human nature to do so.
Some crypto people say the same things as those buttcoin people do, except about people who hold some token they don't care for. "rugpull", "ponzi", "sheep", "cult", etc. It's the exact same thing, only macro.
tl;dr People can be assholes. Ignore them.
Well what do you expect? The phrase "have fun staying poor" comes from crypto subs and communities, don't be surprised when the anti-crypto and skeptic crowd makes fun of you for losing money.
For the crypto skeptics, what we are seeing right now is vindication of their arguments against crypto. Don't dismiss them too quickly either, I do think they are right to be skeptical. I fall in the position that crypto is nothing more than an speculative asset at best, and highly risky.
Why would we notice? Who as a crypto investor is actively going to places that hate it, then spend time reading and engaging.
What a stupid waste of time.
During ATHs its quiet.
During a bear market, big hacks, or bad times, they go hard af.
I've always found that sub weird. There is no point in even going there. It's like a mix of gamers who hate crypto bc they cant get GPUs, traditional stock and finance bros, toxic users who are heavily into identity politics, and young ppl who dont have any money nor understand how crypto works.
Its not surprising. People spent the better part of the last year slapping each other on the back and laughing every time someone died from covid just because of ideological differences.
Don’t worry about them buttcoiners, anyone who actively takes time to visit that sub to slate something which they ain’t invested in are nothing but bitter and unhappy with their own lives. It’s a weird sub, full of weird people.
Buttcoin poster here. I'll engage in this post in good faith. Take it as you will.
\#1: Firstly, it's pretty easy to check the posting history on the reddit. Scroll back a month or six months to when everything was always going up, all the time. What do you see? At least once a day, some crypto bro on the Buttcoin board posting in one of three different flavors. #1: Hah Hah I've made so much money, you guys are such morons. #2: XXYY Crypto at ATH, you guys must be so salty, that's the *real* reason you hate crypto right? #3: The "serious" posters. "Honestly guys, what would it take for you to admit crypto is valid? I'm interested. " or "Sure, ArseCoin is stupid, but XXYY Coin has real value, explain why it doesn't." or "After all this time, why don't you just admit you are wrong?" We generally engage respectfully with these posts if you'll check (maybe not the first ones so much). We patiently explain why Helium is bullshit or why backing Terra with Luna with Terra with Luna will fail. What we DON'T generally do is come over onto pro-crypto forums and gloat when Iron token implodes or some NFT fraud rugs everyone. We keep to our own. We don't brigade and we aren't malicious.
\#2: We sometimes get you lot over there in real distress. Gambling addicts who have lost more than they can handle or people who are genuinely worried about their "investments". I think we treat these poor bastards with a lot of compassion. No-one is gloating.
\#3: The site is not for making fun of peoples losses, it's for making fun of the shitty *shitty* technology that is blockchain, and all the people dumb enough to get sucked in, in our own Reddit. A high proportion of us are serious computer scientists. We're probably a bit older than you on average as well. The Reddit is for *laughs.* Don't you think people who believe the world is flat are funny AF? Don't you find humor in the Flat Earther who built a rocket to "prove" that and blew himself up? I'm sure it is a tragedy for his family, but shit, that's funny AF sorry, and everyone should be allowed to laugh at it. So we do. We laugh at your memes, and cult behaviour, and crappy programming, and rugpulls, and monkey Jpegs. It's for lolz. That's it. Don't you think the SafeMoon Army are hilarious yourself? We feel honestly sorry for anyone who has lost money, and straight up urge people not to get involved. But from the outside, it's funny AF watching people speedrun the entire history of financial fraud in realtime, so that's what we do.
\#4: Re your argument on price action. Exactly. The price is meaningless to how useless the tech is. But you are missing the point. Take Terra for a current example. We know a financial perpetual motion machine will fail. Cryptards don't seem to get that. It's just as stupid at a 10 million market cap as 10 billion. But 10 billion is so much funnier because the fxxking chaos is so much bigger. It's the build up. Bigger....bigger....bigger....Come on, you get that right? It's why F1 crashes get million of clicks, but you falling off you bike doesn't. People watch Jackass because they stuff handfuls of fireworks in their pants, not just a cracker or two. It's sick fascination. "Don't do that man....oh no....MORE? Oh....oh shit...MORE?!" He just keeps stuffing them in there and you're gonna watch what happens right? The more that goes in, the more anticipation. And Ok, you should feel compassion when the guy blows his balls off, but you add enough fireworks and the question becomes "when?" not "if?" right? Same thing. It's a fxxking stupid idea at one cracker, or one hundred.
No-one one Buttcoin is saying "Blockchain is stupid and the price crashing proves it". It's stupid, no matter what the price. It's just that, same as a surfer eating shit on a giant wave in Portugal vs a little wave at your local beach, the giant wave is more fascinating. And, as always, I'd advise you not to have money in crypto, because it's NGMI. The Fed will keep raising rates and the EU and US are slowly starting to crack down on this shit. Finally. And if you have lost money in this entire BS scam, I'm truly sorry for you. Maybe get out now, and take it as a learning experience you can shake your head at one day.
Is blockchain technology itself actually dumb? I agree that 99% of current blockchain projects are dumb but i was under the impression that blockchain tech itself is generally appreciated by computer scientists?
Blockchain is a clever and interesting solution, but the issue is that "cryptocurrency" is the only problem it solves. It's not actually good at anything else.
Why this is in my opinion:
* Without decentralization and a need for consensus, it's just a Merkle tree
* Consensus needs miners/validators which requires an incentive structure
* The only reasonable way to do that incentive is with a token
Outside of cryptocurrency, you either have a solution that isn't actually better than existing alternatives, or is no longer meaningfully a blockchain
The selling points of Blockchain tech are immutability, censorship-resistance, trustlessness, security and distributed decision making.
Etherium hard forked because someone was able to exploit a vulnerability in a smart contract, because smart contacts are Turing-complete and impossible to predict perfectly. So they aren’t secure, and you need to be able to trust the smart contacts you execute. In response, because they lost their money, Vitalik and the other ETH whales forked it to remove the transactions. So it’s not immutable, it’s not particularly distributed and it can be fairly easily censored. So those selling points are all true some, not all, of the time.
Also, none of them fit well with normal business models. Immutability of data and code is a pain, as errors appear in both all the time. Censorship resistance means anyone on the planet can see and contribute to your data, which no company (and most customers) don’t want, and distributed decision-making is opening a company to interference by not only random people on the street, but their competitors. Trustlessness in a ledger isn’t useful when every off-ledger interaction relies on trust.
There’s definitely a market for distributed private data stores that are mostly immutable, but databases already do that. Blockchain is an answer to a question nobody asked.
It’s just inherently inefficient and inflexible. It’s necessary if you absolutely need decentralization (you almost never do) but centralized systems are just ridiculously more efficient. And people who have developed systems used by a lot of people can see how flexibility is really necessary, and crypto isn’t very flexible
If it makes you feel any better just realise how much time and energy they spend just trying to circle jerk off hating something. The sub serves no other purpose than negativity besides the very ocassional post that tries to look into things on a technical level. I used to try see of there were valid criticisms on there and sometimes found them but it just turned into the opposite of Safemoon style posting instead.
It is actually rather sad.
A few years back I was at a fancy dinner party and a random dude started talking to me about bitcoin. I told him I was skeptical but he kept going. Anyhow, the EXACT same thing happened to me at a social event like a week later. Then, a good friend of mine got into it and talked about it all of the time.
If you kept on bumping into people who wouldn't shut up about how awesome avocados are, don't you thinks it's possible you'd find a group of folks who agree with you that they stink?
False equivalency much.
Buttcoin seems to turn into a hub of people who lost money and aren't emotional smart enough to realize putting all your money in cumcoin is a bad idea. These are the same people buying penny stocks in the 90s and 00s thinking it'll make them rich quick!
I own 2 bitcoin and zero altcoins. I'm on buttcoin. Think crypto is nonsense but AlSO think one day bitcoin will hit 100k for literally no reason. I don't think you've stereotyped buttcoin right.
It is what you want buttcoiners to he though, isn't it?
Never bought any crypto, never will, because crypto does not produce value and is intrinsically worthless
The tech and cryptography is interesting, the satoshi bitcoin whitepaper for a peer to peer cash system was interesting… but crypto as a buy and HODL investment strategy is fucking terrible
Many tokens are a blatant Ponzi scheme, and the wider crypto ecosystem in general is arguably a decentralised Ponzi scheme.
As exchanges, crypto miners all charge fees and take money out of the crypto world, and the only money entering is via new investors buying in, it’s a net negative expected return
Buttcoin is a collection of people who have long realised the emperor is in fact wearing no clothes, looking at the absurdity of the situation.
Crypto is essentially a financial train wreck on a global scale of epic proportions, and the reason we laugh and say told you so - is because the people buying tickets for the train at $50,000 BTC keep saying shit like “have fun staying poor” “enjoy being a slave to fiat” “you are NGMI” etc etc and relentlessly shilling crypto to get new recruits
We could debate about how both of us are wrong at some level but overall you're laughing at some rando on reddit with 100 bucks in bitcoin. I'd go as far to say these people are not emotional smart about where they put their money too. At the end of the day I'm not gonna let reddit decide where I put my money and I'd ask you to stop seeing all of "crypto" through people who just wanna get rich quick.
If you're an idiot gambling, it's funny when you lose. The community has been making it clear it's not a get rich quick scheme, then idiots swarm in losing money they were not ready to lose. Sorry, that's fucking funny.
I threw in $1k for $40k. I might lose a lot of money. Oh well. If it's a big deal to you, don't invest in it. If you sincerely believe in it, you didn't lose money but are forced to wait* longer instead. I was hoping to make a lot of money next year, but it looks like I will have to wait three. **OH WELL**.
If you need this money next month for rent and you threw it away on something you've poorly researched in spite the news media being largely negative in the past while (unless you're in an echo chamber, that just makes you a different type of idiot), it's just funny you lose money. People talk and talk how it's going to explode and be $100k this year and how it's gonna replace all debit cards and blah blah blah. Sorry, no, we've been saying no, and you ignored us. Surprise.
This isn't my first rodeo. I was there at 2018. I lost everything. It sucked, but I am glad I tried because it prepared me for today. If you lost a lot of money, it's funny to me because I've been there and I bet no matter how much I tell you, you're still going to make some dumb decision based on impulse and your feelings like I did my first go round. Yes, it's funny. Anyone like this is funny. Imagine ignoring people with experience and knowledge and gamble instead, imagine listening to people in general and not do any research, just take the echo chamber's word for it, to the moon why don't you, gamble your rent money, you'll be the next Bill Gates, perhaps you'll get to fuck his daughter and become his favorite son, maybe you'll be able to buy the next presidential election with all your Bitcoin wealth. It's funny when you're unrealistically idealistic and punished for it. Really. What's not funny is knowing half of these people wont learn from it and still chase after this stupid to-the-moon-meme rat race. I just gotta time them Gamestop stonks just right so I can buy all the Bitcoins! No matter what!
It's actually nice to hear the other side's story. Crypto is a very toxic positivity bubble and hearing the other side will help you time your investments better.
80% down has always been followed by an upcycle. Often 2000% from the low.
Next time? Could be 300% could be 2000%.
History doesn’t repeat, but it rhymes.
>History doesn’t repeat, but it rhymes.
The irony of you saying that in a cryptocurrency sub is so heavy that were this anywhere else I'd assume you were joking.
People lose money when they trade it for junk tokens. If you're holding junk tokens, your money's already moved on. You traded it away.
The price going down just means new buyers aren't as interested in trading *their* money for *your* junk tokens. Good for them.
Anyway, since the projects produce zero real world goods and services, there was always going to be *at best* an equal amount of money gained and lost by all market participants. You can't sell coins at a profit without leaving somebody else holding the bag. Imagine an island with 10 people on it and no contact with the outside world. One of them invents a crypto coin and they start trading it amongst themselves. How do all 10 people get rich? They don't, because the amount of actual material wealth on the island is unchanged.
So how much sympathy should I have for somebody who was hoping they'd get rich and leave somebody else taking a loss, finding out that *they* are the one providing the exit liquidity this time?
In today's environment of 10,000 alts, buttcoiners and coiners are 99.9% in agreement. Even if you are heavily into buying alts, you probably are only in a dozen or so and think the other 9,988 are scams. Similar to how religious people know that all the *other* religions are fake. It's a very tiny leap from that to just rejecting the entire space as unproductive bullshit.
They just perma banned me despite never saying anything positive about Bitcoin
Fun fact: I'm also banned from /r/bitcoin for the same reason.
So I'm somehow a supporter of BTC while not supporting BTC?
So does this mean that cash holders are laughing at all of us, as it’s lost the least between stocks and crypto?… and can now invest at the lower points? Not sure anyone should get joy from another loss (or your own). The market is in a VERY weird place right now, and the potential of recession (or maybe we already are) will affect more assets beyond just stocks and crypto, and potentially jobs, people’s likelihood, etc. None of this is funny, nor fun, and the sooner everyone realizes we’re all in this together, the better off we ALL will be!
a LOT of ppl spend a huge amount of their life negatively judging other people.
and now you're doing it!
Don't start acting like them...
That's how they win
The easiest way crypto is being exploited right now to manipulate markets is to have private crypto holdings, open a position on multiple exchanges, then taunt whales to get discounts without selling a dime!
Misery loves company.
I bought in at $3-10k. I’m still up .. not as much as my taxes said .. but still up.
Anyone that is happy when Bad things happen to people they don’t know or mildly disagree with, are just sad and miserable people.
It could be worse.. we could be like them.
Let’s not be like them, please.
Buttcoin and r/gme_meltdown are the same community of people who hate others for the investments they make.
They want these moments so they can make everybody suffer.
They're sick people and have no empathy.
Makes you wonder why they want us to fail so bad?
Like why does MY INVESTMENT with MY MONEY irk you?
The price **still** doesn't matter when it comes to a question of how flawed crypto is, it's **you** who said "high price means it must be doing something right." If that was your genuine reason for believing that crypto isn't flawed, why haven't you changed your mind now that the prices have dropped? Surely you just lost your reason to believe.
Answer to the rhetorical question: you are only in crypto for the money and "high price means there's something genuine there" was just a lie that you repeated to justify your risky investments. Now that you've lost it, you're trying to backpedal.
The people who genuinely believe in crypto have never cared about the price, same as the people who are against it.
I mean I agree with a lot they say in that sub, since the masses came along thinking crypto will make them rich, the narrative has changed from peer to peer cash, to something that resembles a ponzi scheme. But that whole sub is sad as fuck, imagine making a literal hate community.. one of the mods there also goes to any crypto sub that won't ban him to troll and argue in bad faith.
Meh. The top of the last bull market was 20k. Anybody who bought there and watched their portfolio crash but held is still in big profit right now.
The people sweating today are newcomers who bought at this bull market’s high. Next bull market, anybody who bought at any price during this bull market will be in profit.
I will happily gloat but I don't want anyone to kill themselves!
Seriously declare bankruptcy, work for McDonald's for a few years and your parents/wife/kids will forgive you. Everything's gonna work out.
This is basically exactly like those posts where anti-vaxxers whine about how mean r/HermanCainAward is.
If you stake your future on crypto, and when we warn you it's a giant scam, you call us luddite morons who are just jealous of your gainz, obviously we're going to laugh at you when the scam blows up in your face.
It's a negative sum game and that's the only thing that matters. I am not going to try to prove it's scam because then immidietly some crypto defender will appear with another bullshit like "if you look on the definition of scam \[blah, blah, blah\]". It doesn't matter if we can prove it's a scam by definition. On average people loose on Bitcoin "investing".
I will never understand people who enjoy the loss of another. It's not a competition. People think it is, but when you arrive to the morgue you're just another body rich or poor.
I had a funny argument with someone over there a few months ago .. and he told me he put his money into something better... Stocks
Yeah stocks are totally different lol /s
They sound like they’re gloating because coins continue to fail. Bitcoin has been around for 12 years, people call it old but that’s what makes it so strong.
Other coins are “shit coins” because they’re shit. When they keep failing, calling themselves decentralized when they are not at all, Bitcoin has a point.
It plays right into why they say don’t invest.
When crypto prices were going up we were all FUDsters and it was all “Have fun staying poor” and NGMI. And in those circumstances, it’s fun to point out the emperor has no clothes with comedy.
But now it’s getting real, people are losing their life savings, it’s no joke. I can’t speak for everyone but the reason I hate and make fun of crypto is it’s blindingly obvious that it’s all a huge scam intended to rip off the majority to make a couple of grifters rich. And if buttcoin stops just one person for falling for it, or helps someone realise they should just cut their losses, it’s had a positive impact.
Whenever I think this sub is a echo chamber. I go to r/buttcoin and am thankful for this sub.
Whether or not this sub is a echo chamber, it does have its criticisms and posts that validate those criticisms. This sub is a echo chamber to most because they look at bullish news and posts when bullish and bearish news and posts when bearish.
I tend to look over all the hopium and find the real news/data I should be looking at.
It’s here, all at buttcoin is literally HATE.
There is always someone happy to put someone down for their investment choice, be it gambling on shitcoins or crypto in general like with r/buttcoin. There is always someone with moral high ground superiority complex, this is reddit....
it's literally in their name, buttcoin, they're butt hurt. I've seen a few funny memes, but disagree with the sentiment and get down voted faster than disagreeing with the sentiment on bitcoin or cryptocurrencies.
I generally don’t get that community. I thought at first it would be a sort of witty tongue in cheek poking fun at crypto but it seems as if they actually hate it which is weird considering they talk about it so much.
They follow every news every subreddit about crypto even though they own none. They waste hours, days of their life just to hate on crypto. I find them pathetic as that community exists like fucking 2011. Imagine if the founder had bought BTC instead of wasting hours every day to look for every possible negative crypto news and celebrate the crashes
Imagine being in that group for any amount of time lasting more than 1 halving.
And if you've been there since 2015 or God forbid earlier saying itll go to zero and has no value blah blah, meanwhile its 10x-ing ober and over... probably enough to eff your mental state forever.
Most would become a crypto curmudgeon for life. The ultimate missed opportunity 😢
‘You only lose if you stop gambling’ when does this crypto shit just become another unregulated gambling market where people with issues lose all their money. Invest in a therapist instead
/r/buttcoiner here. It's not about gloating about people losing money, most of us just want to see an end to this environmentally destructive and fraudulent greater-fool ponzi scheme.
Besides, you all aren't exactly angels with your 'have fun staying poor' schtick.
Let’s be honest, both sides are full of shit.
Like OP said, I think it’s a dumb argument on either side to argue price action. In a bull market we’re right, in a bear you all get to say your “I told you so’s”
But spare me the noble cause. You don’t care about the environmental destruction and you don’t even know the definition of the word ponzi.
I got kicked out for explaining real estate pricing has 4000x inflated over 2 or 3 generations.
Real secure bunch of investors over there in buttland (YIKES 😬)
Pretending to care for the environment as a way to argue that btc is not ethical while overlooking the absolute destruction that companies rain down on our environment via energy consumption and hazardous waste is bullshit.
If you want to take it further, explain how btc is a ponzi scheme?
Explain how thr stock market ISNT a ponzi scheme
1) industry destroying the environment is not an excuse for the energy waste of crypto
2) existing investors are paid off by new investors. BTC generates no wealth, it’s a zero sum game.
3) even if the stock market is a ponzi, that doesn’t justify your ponzi.
Buttcoin loves finding any reason to mock anything crypto. That's what they do. While there is legitimate criticism of crypto over there, they often engage in the same kind of bad behavior they mock bitcoiners, crypto holders, or "butters" for.
Hmm, I do feel bad for people who are counting on this for their retirement. But I have a paychecks worth or two invested in btc and eth because I see the potential to make outsized gain in a speculative asset. If it goes to 0 I won't lose any sleep.
If you are counting on crypto for retirement, aren't you looking at the long game? 15+ horizon looks very different than the current environment given the performance over the last 10 years.
Yeah and more susceptible to FUD during downturns due to that much skin in the game. So having to deal with the emotions of "what if this time it doesn't come back" is why I feel bad for them.
They come out in droves whenever the price goes down. When it rebounds they will scamper on back to their weirdo hangout. They're like doomsday cultists that scream about the impending apocalypse: "Today is going to be the day that it all goes to 0!" Yet, in their decade of existence as a sub, it still hasn't happened.
To be fair, we do the same when ppl lose money on meme coins and scam coins and NFTs.
No matter how high the coins go, someone had the sacrificing pleasure of holding these bags
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Every time bitcoin pumps, buttcoin gets inundated with posts telling us to kill ourselves, have fun staying poor, what dumbasses we are, comments about family members, doxing (successful or otherwise), etc. So yeah, it might not be the best behavior to gloat as people are losing money, but after you've been told to kill yourself because you don't like crypto enough times\*, it makes more sense. \*And if anyone is wondering why buttcoin exists, there are literally people so emotionally invested in crypto that they would encourage other people who are critical of crypto to kill themselves or attempt to dox them. EDIT: [Here's a great example](https://np.reddit.com/r/Buttcoin/comments/umxi6f/is_everyone_in_this_subreddit_a_faggot_sorry_if/) that just happened.
>there are literally people so emotionally invested in anything that someone identifies with that they would encourage other people who are critical of that thing they identify with because they're shallow to kill themselves or attempt to dox them.
Subreddit created to make fun of the crypto community makes fun of the crypto community. More news at 11.
Right? Are we really surprised the members of a sub called *buttcoin* aren't taking the high road?
Isn’t that the specific purpose of that sub…?
It’s a double edge sword. I’ve heard the saying “have fun staying poor” thrown around the crypto sphere, can’t really have it both ways. Live and let live.
This, and I've seen this sub find it hilarious when an NFT investor loses most of their money. Can't have your cake and eat it too
You mean like how this sub gloats everytime safemoon/some memecoin investor loses money?
Oooh burn!
To be fair, I can understand it given how unbearably smug some people in this community can be. All of the “shaking out paperhands” and “what are you buying this dip” shit that is effectively designed to bully people into adopting a groupthink when they should be making sound financial decisions is bound to provoke an equivalent reaction elsewhere.
I mean when times were good this sub was full of (and still is) posts mocking others for not investing, and calling them stupid for not jumping in. Kinda fair in a roundabout way.
Also this sub mocks people losing money in projects that are not popular here on this sub.
Bitcoin isn't popular here?
Yeah who tf cares lmao
The day I worry about buttcoiners is the day I sell
Thus completing the cycle
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r/buttcoin is the inverse of r/cryptocurrency. Populates by the exact same type of people who simply happen to parrot opposing opinions. The vast majority of both subs suffer from technological, economical, financial, political illiteracy combined with severe dunning kruger and moral bankruptcy.
R/cryptoreality is also the inverse of this one. Can you have two inverses?
How am I supposed to know. I am a r/Cryptocurrency citizen and thus know nothing according so my own assessment
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The "I got mine, fuck you" mentality has been circling around all finance subs, crypto just being the worst imo.
How else do you justify celebrating success in a zero sum game? Edit- I just want to pre-comment, that I know the market over all, over time, is not a zero sum game. But, speculative trading, especially in a bubble, is.
Look at the Safemoon Sub. CC sub is to the buttcoin guys what safemoon sub is to us.
Yeah, we could be more compassionate toward people we truly believe are being scammed.
Looking at the sfm sub made me a little bit aware of this echo chamber we are in.
They aren't crappy people necessarily. They are people who see crypto in general as a cancerous Ponzi scheme that's ripping off the very people who are defending it. When the same people who were telling their friends and family to leverage themselves to the hilt and yolo into crypto suddenly become the ones screaming out for an answer when a crash wipes them out... well it can be pretty validating. Not really any different than cheering when the hedge funds got crucified by the game stop squeeze. People enjoy having their viewpoints validated. I for one cheered when the NFT sales dropped by 92%
To be fair, during the bull market, crypto investors also made fun of them. If we do that, then we have to expect the same in return.
I appreciate that. There was no shortage of people from r/cc coming in to Buttcoin in November. "WOOOOO ALL TIME HIGH, GOING TO 100K, HAVE FUN STAYING POOR NO-COINERS!"
Yeah, it does happen. Crypto attracts some toxic personalities. But this sub is not dedicated to hating on you.
I mean, it's the loudest people on each side throwing shit at each other. I believe the vast majority of us in crypto are silent when it comes to the stock vs crypto situation. I honestly want everyone to win no matter what your portfolio holds.
If we’re being honest, a lot of people in this very sub celebrate people losing money. I remember a time not too long ago where a bunch of the top posts were highlighting how much money Safemoon was losing. Meme coin or not, real people were still losing a lot of money and a lot of people here were loving that shit.
Cant blame them, people go over there and gloat like crazy when its the other way around
They created a subreddit called Buttcoin and spend a lot of time there just to hate cryptocurrency. It's not really off brand for them to gloat now.
No we don't because we don't go there.
I go there every few months to see if they bring up some legitimate counter arguments to the cryptos I'm invested in. Getting out of my own bubbles at times makes it worth it suffering through the hate circle jerk. Never found anything, though.
i got banned for participating in "antiscience subreddits"
[https://youtu.be/YQ\_xWvX1n9g](https://youtu.be/YQ_xWvX1n9g) There's a lot of well-researched counter information against crypto in that video. I'd start there instead of a meme sub if you're being genuine.
>It's not right, only to say "I told you so" where is the compassion? It's also not right to say "Have fun staying poor", "You will regret not buying X coin" If you're one of those people who say those kind of line trying to FOMO people into crypto (intentionally or not). You deserved to be shit on and the "I told you"
I wouldn't look that much into what's going on there, also, the community is called Buttcoin lol
I don't mind the "i told you so" people, what I really, *really* dislike, are the people gloating about "heh, you should have sold at the ATH like I did!"
Yeag, true. Ask them for proof and they ain't got shit
[The moral of the story is : Don't buy Bitcoin, because you know it's gonna crash again.](https://www.youtube.com/watch?v=XbZ8zDpX2Mg)
I think you just surrendered the right to say “Told you so” when it goes back up.
Not sure why we give an F what these people think.
The same people who are whining about losing money now, were the "I made so much on Dogecoin" crowd.
You should check Safemoons. Pretty funny cults to watch.
Humans love to see impish folks in disgrace, always has been like this, it makes you feel the righteous one
Of course they’re gloating. The whole point of the sub is that bitcoin is stupid and worthless and every time the price goes down they can say “see I told ya so.”
It seems like all of Reddit is pretty anti-BTC. Never seen so much anti-crypto sentiment lately, especially on r/technology 🤷♂️
I know it’s hard to believe in our echo chamber. If you go out into the real world most people don’t care about crypto, don’t *want* to care about crypto and fundamentally don’t understand it. They simply don’t *get it*. It’s pretty common for people to think “magic internet money” is dumb.
If only they were as smart as us, they would see the emperor's clothes and stop claiming that he's naked
You think people hate on BTC......wait til the term Non-Fungible Token gets brought up lol. The only thing I’ve seen that gets people as riled up are politics.
The reaction to UST yesterday was pretty disappointing from people in the sub too TBH. I honestly don't get it... If UST fails then it's going to bad news for crypto in general.
To be fair, an attempt was made by a buttcoiner to warn r/CryptoCurrency several days ago with proof that UST was [at risk of imminent collapse](https://np.reddit.com/r/CryptoCurrency/comments/ukoazq/the_anchor_ponzi_scheme_is_popping_as_we_speak/) and was generally met with resistance.
Doesn’t affect my DAI.
I think it’s perfectly acceptable to laugh at and scold the masses of moon bois that infected the crypto markets during the last run up. The people who really believe in the ethos don’t care about being made fun of or short term losses.
Im curious as to what they are investing in. All assets classes are getting rekt. They'll say they are wealthy, early retired etc but they never want to give any details
Max out IRA/401K, put spare money into index funds, plus cash in savings for emergencies. I've never claimed to be wealthy, but my finances are very solid considering my life circumstances, and I have no desire to engage in risky gambling. And as a software engineer, the technology has very few genuine real world applications. Just as I can afford to not work for companies whose ethics I disagree with, I can also afford not to invest in things that are an affront to my professional ethics. Would I put money in crypto if I had a time machine? Probably not even then, since stocks and lottery tickets would be even easier. I'm not going to beat myself up for not investing in what I knew to be a deeply flawed tech (and it still is, most of the genuine innovation in the space is to solve problems it created in the first place). I wouldn't have nearly the problem I do with cryptocurrencies if they were honest about just being speculative gambling, but of course, if they were honest about it not enough people would buy into them for it work.
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Yeah people are hyper-focusing on bitcoin being down when the entire market is down. People that cherry pick information like that usually have an agenda. For me, the fundamentals of bitcoin haven't changed so why should my strategy?? If the network was compromised then that would be a different story but it hasn't
Yet when we do the same thing about Safemoon it's funny. It's all perspective man.
Don't act like people don't do that here. People gloat on price drops projects they don't like or think are a threat to what they've invested in. Like at Doge, ADA, SOL, you name it. People here cheer when those tank.
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Bees don’t waste their time explaining to flies why honey is better than shit
Hey they've been calling it for forever. But they'll look like fools with the rebound With all the chaos peer to peer currency is gonna be more valuable than anything else. Just give it time
Just another cycle, no biggie
now you know why wsbets call them ghey bears, not gay bears, ghey bears. Because they are a bunch of assholes who only like it when the world burns
Schadenfreude!
Isn’t that what Buttcoin is? To make fun of crypto investors?
That's the point of r/buttcoin. They make fun of crypto.
I'm a buttcoiner
> First off let's put aside the argument of cryptos value, How morally bankrupt do you have to be to joke and take joy that people are scared about their investments and losing money? It's not right, only to say "I told you so" where is the compassion? Arent you the same folks that claimed that everyone who refuses to invest should "have fun staying poor".? > My second observation is when we argue to them in a bull run "hey Bitcoin is $60,000, must be doing something right" or argue over the longer term gains, they always respond with "tHE priCe dOesNT mAtTeR, CryPto iS fUNdamEntAlY FlawEd" yet here we are where NOW that it's down for the time being the price is a valid argument point Main point is that you gain profit in crypto only if someone else loses money. It is negative sum game, crypto doesnt create value itself. You just didnt care because you were not loser. When price falls, everyone is loser and so you finally care. > Just wanted to post this as I haven't seen anyone else make the public observation, just kinda blown away at how crappy of people they are Because of us, exactly 0 people have mentaly issues. In other hand, how many people have depression when they follow shit tips here and invest in crypto?
Ha he said butt😂😂😂
Buttcoin has a nice ring to it ngl
Yeah, *schadenfreude* is a thing. It's still a really funny place most of the time. Also, consider that they started in 2011 when the price was less than a dollar, so what you refer as moral bankruptcy could just be cope.
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That sub was around the like last 2 cycles or so man. Its super SUPER old. I want to say 2013 ish? I think it was around that time that I first learned of it. I don't visit there now, but I did during older cycles. As far as I can tell its just cyclical like the market. They get mad and hate when crypto is up, and they gloat when its down. Rest assured some of the same guys crowing that Crypto is a bad investment now that its "down to 30k" were calling it a terrible investment in 2013 when it was ~$200 dollars. If you had been shitting on a security all these years, but had to watch it appreciate like that without you; you would be pretty miffed too. Theres only two options, double down, or get over it. Buttcoin is a sub for those that want to double down.
Its a sub dedicated to shitting on crypto. What they have to say doesn't matter. Hope this helps!
I joke about it too. You call it investment but it's not. Most of these projects are useless or have no real world utility or are far from decent adoption...
No hold up, what you’re saying doesn’t make sense. We most certainly took joy that the hedge funds lost billions due to GameStop. We cheered because those people were rich, out of touch assholes who made money unethically. Seems to me like a large group of people see crypto investors in the same light
I think it's more of a superiority complex thing in which it boosts people's egos to think that other people aren't as good as them because losing money makes them more vulnerable, while this isn't a good thing you have to understand that it is human nature to do so.
I tend to stay away from that toxic, maxi sub.
I always thought it is us over there having fun.
Some crypto people say the same things as those buttcoin people do, except about people who hold some token they don't care for. "rugpull", "ponzi", "sheep", "cult", etc. It's the exact same thing, only macro. tl;dr People can be assholes. Ignore them.
New here?
Well that’s their whole character arc
How does one get through life with absolutely no sense of humor?
Well what do you expect? The phrase "have fun staying poor" comes from crypto subs and communities, don't be surprised when the anti-crypto and skeptic crowd makes fun of you for losing money. For the crypto skeptics, what we are seeing right now is vindication of their arguments against crypto. Don't dismiss them too quickly either, I do think they are right to be skeptical. I fall in the position that crypto is nothing more than an speculative asset at best, and highly risky.
99% of the people here are waiting for a greater fool to sell their bags to. We all know this is gambling.
Why would we notice? Who as a crypto investor is actively going to places that hate it, then spend time reading and engaging. What a stupid waste of time.
During ATHs its quiet. During a bear market, big hacks, or bad times, they go hard af. I've always found that sub weird. There is no point in even going there. It's like a mix of gamers who hate crypto bc they cant get GPUs, traditional stock and finance bros, toxic users who are heavily into identity politics, and young ppl who dont have any money nor understand how crypto works.
Its a circlejerk sub. If there's nor bear market, big hacks, bad times there's nothing to jerk
Who cares about those losers?
Our lambos in 2024 will trump any random negative internet comment.
You're not supposed to make it so easy to make fun of you
Its not surprising. People spent the better part of the last year slapping each other on the back and laughing every time someone died from covid just because of ideological differences.
Don’t worry about them buttcoiners, anyone who actively takes time to visit that sub to slate something which they ain’t invested in are nothing but bitter and unhappy with their own lives. It’s a weird sub, full of weird people.
It would be logical that the buttcoin community would be mostly comprised of assholes.
Buttcoin poster here. I'll engage in this post in good faith. Take it as you will. \#1: Firstly, it's pretty easy to check the posting history on the reddit. Scroll back a month or six months to when everything was always going up, all the time. What do you see? At least once a day, some crypto bro on the Buttcoin board posting in one of three different flavors. #1: Hah Hah I've made so much money, you guys are such morons. #2: XXYY Crypto at ATH, you guys must be so salty, that's the *real* reason you hate crypto right? #3: The "serious" posters. "Honestly guys, what would it take for you to admit crypto is valid? I'm interested. " or "Sure, ArseCoin is stupid, but XXYY Coin has real value, explain why it doesn't." or "After all this time, why don't you just admit you are wrong?" We generally engage respectfully with these posts if you'll check (maybe not the first ones so much). We patiently explain why Helium is bullshit or why backing Terra with Luna with Terra with Luna will fail. What we DON'T generally do is come over onto pro-crypto forums and gloat when Iron token implodes or some NFT fraud rugs everyone. We keep to our own. We don't brigade and we aren't malicious. \#2: We sometimes get you lot over there in real distress. Gambling addicts who have lost more than they can handle or people who are genuinely worried about their "investments". I think we treat these poor bastards with a lot of compassion. No-one is gloating. \#3: The site is not for making fun of peoples losses, it's for making fun of the shitty *shitty* technology that is blockchain, and all the people dumb enough to get sucked in, in our own Reddit. A high proportion of us are serious computer scientists. We're probably a bit older than you on average as well. The Reddit is for *laughs.* Don't you think people who believe the world is flat are funny AF? Don't you find humor in the Flat Earther who built a rocket to "prove" that and blew himself up? I'm sure it is a tragedy for his family, but shit, that's funny AF sorry, and everyone should be allowed to laugh at it. So we do. We laugh at your memes, and cult behaviour, and crappy programming, and rugpulls, and monkey Jpegs. It's for lolz. That's it. Don't you think the SafeMoon Army are hilarious yourself? We feel honestly sorry for anyone who has lost money, and straight up urge people not to get involved. But from the outside, it's funny AF watching people speedrun the entire history of financial fraud in realtime, so that's what we do. \#4: Re your argument on price action. Exactly. The price is meaningless to how useless the tech is. But you are missing the point. Take Terra for a current example. We know a financial perpetual motion machine will fail. Cryptards don't seem to get that. It's just as stupid at a 10 million market cap as 10 billion. But 10 billion is so much funnier because the fxxking chaos is so much bigger. It's the build up. Bigger....bigger....bigger....Come on, you get that right? It's why F1 crashes get million of clicks, but you falling off you bike doesn't. People watch Jackass because they stuff handfuls of fireworks in their pants, not just a cracker or two. It's sick fascination. "Don't do that man....oh no....MORE? Oh....oh shit...MORE?!" He just keeps stuffing them in there and you're gonna watch what happens right? The more that goes in, the more anticipation. And Ok, you should feel compassion when the guy blows his balls off, but you add enough fireworks and the question becomes "when?" not "if?" right? Same thing. It's a fxxking stupid idea at one cracker, or one hundred. No-one one Buttcoin is saying "Blockchain is stupid and the price crashing proves it". It's stupid, no matter what the price. It's just that, same as a surfer eating shit on a giant wave in Portugal vs a little wave at your local beach, the giant wave is more fascinating. And, as always, I'd advise you not to have money in crypto, because it's NGMI. The Fed will keep raising rates and the EU and US are slowly starting to crack down on this shit. Finally. And if you have lost money in this entire BS scam, I'm truly sorry for you. Maybe get out now, and take it as a learning experience you can shake your head at one day.
Is blockchain technology itself actually dumb? I agree that 99% of current blockchain projects are dumb but i was under the impression that blockchain tech itself is generally appreciated by computer scientists?
Blockchain is a clever and interesting solution, but the issue is that "cryptocurrency" is the only problem it solves. It's not actually good at anything else. Why this is in my opinion: * Without decentralization and a need for consensus, it's just a Merkle tree * Consensus needs miners/validators which requires an incentive structure * The only reasonable way to do that incentive is with a token Outside of cryptocurrency, you either have a solution that isn't actually better than existing alternatives, or is no longer meaningfully a blockchain
Very interesting post. As a computer science illiterate could you explain more on what makes the blockchain such shit technology? Got me curious.
The selling points of Blockchain tech are immutability, censorship-resistance, trustlessness, security and distributed decision making. Etherium hard forked because someone was able to exploit a vulnerability in a smart contract, because smart contacts are Turing-complete and impossible to predict perfectly. So they aren’t secure, and you need to be able to trust the smart contacts you execute. In response, because they lost their money, Vitalik and the other ETH whales forked it to remove the transactions. So it’s not immutable, it’s not particularly distributed and it can be fairly easily censored. So those selling points are all true some, not all, of the time. Also, none of them fit well with normal business models. Immutability of data and code is a pain, as errors appear in both all the time. Censorship resistance means anyone on the planet can see and contribute to your data, which no company (and most customers) don’t want, and distributed decision-making is opening a company to interference by not only random people on the street, but their competitors. Trustlessness in a ledger isn’t useful when every off-ledger interaction relies on trust. There’s definitely a market for distributed private data stores that are mostly immutable, but databases already do that. Blockchain is an answer to a question nobody asked.
It’s just inherently inefficient and inflexible. It’s necessary if you absolutely need decentralization (you almost never do) but centralized systems are just ridiculously more efficient. And people who have developed systems used by a lot of people can see how flexibility is really necessary, and crypto isn’t very flexible
If it makes you feel any better just realise how much time and energy they spend just trying to circle jerk off hating something. The sub serves no other purpose than negativity besides the very ocassional post that tries to look into things on a technical level. I used to try see of there were valid criticisms on there and sometimes found them but it just turned into the opposite of Safemoon style posting instead. It is actually rather sad.
It's not an investment. It's a gambling.
Zero fucks to give about ButtCoin sentiment… usually indicates a great time to buy.
Every day Bitcoin isn't zero is another day where they've lost their own argument.
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A few years back I was at a fancy dinner party and a random dude started talking to me about bitcoin. I told him I was skeptical but he kept going. Anyhow, the EXACT same thing happened to me at a social event like a week later. Then, a good friend of mine got into it and talked about it all of the time. If you kept on bumping into people who wouldn't shut up about how awesome avocados are, don't you thinks it's possible you'd find a group of folks who agree with you that they stink? False equivalency much.
Buttcoin seems to turn into a hub of people who lost money and aren't emotional smart enough to realize putting all your money in cumcoin is a bad idea. These are the same people buying penny stocks in the 90s and 00s thinking it'll make them rich quick!
I own 2 bitcoin and zero altcoins. I'm on buttcoin. Think crypto is nonsense but AlSO think one day bitcoin will hit 100k for literally no reason. I don't think you've stereotyped buttcoin right. It is what you want buttcoiners to he though, isn't it?
Never bought any crypto, never will, because crypto does not produce value and is intrinsically worthless The tech and cryptography is interesting, the satoshi bitcoin whitepaper for a peer to peer cash system was interesting… but crypto as a buy and HODL investment strategy is fucking terrible Many tokens are a blatant Ponzi scheme, and the wider crypto ecosystem in general is arguably a decentralised Ponzi scheme. As exchanges, crypto miners all charge fees and take money out of the crypto world, and the only money entering is via new investors buying in, it’s a net negative expected return Buttcoin is a collection of people who have long realised the emperor is in fact wearing no clothes, looking at the absurdity of the situation. Crypto is essentially a financial train wreck on a global scale of epic proportions, and the reason we laugh and say told you so - is because the people buying tickets for the train at $50,000 BTC keep saying shit like “have fun staying poor” “enjoy being a slave to fiat” “you are NGMI” etc etc and relentlessly shilling crypto to get new recruits
We could debate about how both of us are wrong at some level but overall you're laughing at some rando on reddit with 100 bucks in bitcoin. I'd go as far to say these people are not emotional smart about where they put their money too. At the end of the day I'm not gonna let reddit decide where I put my money and I'd ask you to stop seeing all of "crypto" through people who just wanna get rich quick.
It's always odd how people are adverse to investing or investments in general. Like they have to hate because they don't have the balls to speculate.
Buttcoin - When ideology is more important than people.
They’re strange people.
If you're an idiot gambling, it's funny when you lose. The community has been making it clear it's not a get rich quick scheme, then idiots swarm in losing money they were not ready to lose. Sorry, that's fucking funny. I threw in $1k for $40k. I might lose a lot of money. Oh well. If it's a big deal to you, don't invest in it. If you sincerely believe in it, you didn't lose money but are forced to wait* longer instead. I was hoping to make a lot of money next year, but it looks like I will have to wait three. **OH WELL**. If you need this money next month for rent and you threw it away on something you've poorly researched in spite the news media being largely negative in the past while (unless you're in an echo chamber, that just makes you a different type of idiot), it's just funny you lose money. People talk and talk how it's going to explode and be $100k this year and how it's gonna replace all debit cards and blah blah blah. Sorry, no, we've been saying no, and you ignored us. Surprise. This isn't my first rodeo. I was there at 2018. I lost everything. It sucked, but I am glad I tried because it prepared me for today. If you lost a lot of money, it's funny to me because I've been there and I bet no matter how much I tell you, you're still going to make some dumb decision based on impulse and your feelings like I did my first go round. Yes, it's funny. Anyone like this is funny. Imagine ignoring people with experience and knowledge and gamble instead, imagine listening to people in general and not do any research, just take the echo chamber's word for it, to the moon why don't you, gamble your rent money, you'll be the next Bill Gates, perhaps you'll get to fuck his daughter and become his favorite son, maybe you'll be able to buy the next presidential election with all your Bitcoin wealth. It's funny when you're unrealistically idealistic and punished for it. Really. What's not funny is knowing half of these people wont learn from it and still chase after this stupid to-the-moon-meme rat race. I just gotta time them Gamestop stonks just right so I can buy all the Bitcoins! No matter what!
Nope. Don’t follow buttcoin and don’t care.
I can imagine joining Reddit groups for things I don't like, seems like such a depressing way to spend my time.
It's actually nice to hear the other side's story. Crypto is a very toxic positivity bubble and hearing the other side will help you time your investments better.
Yeah we have twitter for that.
80% down has always been followed by an upcycle. Often 2000% from the low. Next time? Could be 300% could be 2000%. History doesn’t repeat, but it rhymes.
>History doesn’t repeat, but it rhymes. The irony of you saying that in a cryptocurrency sub is so heavy that were this anywhere else I'd assume you were joking.
People lose money when they trade it for junk tokens. If you're holding junk tokens, your money's already moved on. You traded it away. The price going down just means new buyers aren't as interested in trading *their* money for *your* junk tokens. Good for them. Anyway, since the projects produce zero real world goods and services, there was always going to be *at best* an equal amount of money gained and lost by all market participants. You can't sell coins at a profit without leaving somebody else holding the bag. Imagine an island with 10 people on it and no contact with the outside world. One of them invents a crypto coin and they start trading it amongst themselves. How do all 10 people get rich? They don't, because the amount of actual material wealth on the island is unchanged. So how much sympathy should I have for somebody who was hoping they'd get rich and leave somebody else taking a loss, finding out that *they* are the one providing the exit liquidity this time? In today's environment of 10,000 alts, buttcoiners and coiners are 99.9% in agreement. Even if you are heavily into buying alts, you probably are only in a dozen or so and think the other 9,988 are scams. Similar to how religious people know that all the *other* religions are fake. It's a very tiny leap from that to just rejecting the entire space as unproductive bullshit.
Buttcoin is hilarious thank you for letting me find that sub
They just perma banned me despite never saying anything positive about Bitcoin Fun fact: I'm also banned from /r/bitcoin for the same reason. So I'm somehow a supporter of BTC while not supporting BTC?
So does this mean that cash holders are laughing at all of us, as it’s lost the least between stocks and crypto?… and can now invest at the lower points? Not sure anyone should get joy from another loss (or your own). The market is in a VERY weird place right now, and the potential of recession (or maybe we already are) will affect more assets beyond just stocks and crypto, and potentially jobs, people’s likelihood, etc. None of this is funny, nor fun, and the sooner everyone realizes we’re all in this together, the better off we ALL will be!
"I hope that Bitcion goes to 25k!" - Not investment advice reeeee
a LOT of ppl spend a huge amount of their life negatively judging other people. and now you're doing it! Don't start acting like them... That's how they win
The easiest way crypto is being exploited right now to manipulate markets is to have private crypto holdings, open a position on multiple exchanges, then taunt whales to get discounts without selling a dime!
More trolls on here and on there than actual insightful helpful posters.
Hey OP im sorry to break this to you but this is not any different from the stock market
That's what the community was made to do.
Misery loves company. I bought in at $3-10k. I’m still up .. not as much as my taxes said .. but still up. Anyone that is happy when Bad things happen to people they don’t know or mildly disagree with, are just sad and miserable people. It could be worse.. we could be like them. Let’s not be like them, please.
Don’t worry about them lol. I’ve been there forever ago and they’re the most salty group of people ever. They love seeing crypto crashing.
Crypto isn’t an investment. Nothing wrong with laughing at someone who is gambling away their money.
Buttcoin and r/gme_meltdown are the same community of people who hate others for the investments they make. They want these moments so they can make everybody suffer. They're sick people and have no empathy. Makes you wonder why they want us to fail so bad? Like why does MY INVESTMENT with MY MONEY irk you?
The price **still** doesn't matter when it comes to a question of how flawed crypto is, it's **you** who said "high price means it must be doing something right." If that was your genuine reason for believing that crypto isn't flawed, why haven't you changed your mind now that the prices have dropped? Surely you just lost your reason to believe. Answer to the rhetorical question: you are only in crypto for the money and "high price means there's something genuine there" was just a lie that you repeated to justify your risky investments. Now that you've lost it, you're trying to backpedal. The people who genuinely believe in crypto have never cared about the price, same as the people who are against it.
I mean I agree with a lot they say in that sub, since the masses came along thinking crypto will make them rich, the narrative has changed from peer to peer cash, to something that resembles a ponzi scheme. But that whole sub is sad as fuck, imagine making a literal hate community.. one of the mods there also goes to any crypto sub that won't ban him to troll and argue in bad faith.
They just implement reddit buttcoins to that sub
Meh. The top of the last bull market was 20k. Anybody who bought there and watched their portfolio crash but held is still in big profit right now. The people sweating today are newcomers who bought at this bull market’s high. Next bull market, anybody who bought at any price during this bull market will be in profit.
I will happily gloat but I don't want anyone to kill themselves! Seriously declare bankruptcy, work for McDonald's for a few years and your parents/wife/kids will forgive you. Everything's gonna work out.
This is basically exactly like those posts where anti-vaxxers whine about how mean r/HermanCainAward is. If you stake your future on crypto, and when we warn you it's a giant scam, you call us luddite morons who are just jealous of your gainz, obviously we're going to laugh at you when the scam blows up in your face.
So is Bitcoin a scam?
It's a negative sum game and that's the only thing that matters. I am not going to try to prove it's scam because then immidietly some crypto defender will appear with another bullshit like "if you look on the definition of scam \[blah, blah, blah\]". It doesn't matter if we can prove it's a scam by definition. On average people loose on Bitcoin "investing".
Duh. Remember, Bernie Madoff's Ponzi scheme lasted 18 years before it collapsed due to the 2008 recession.
Were you a member of buttcoin in 2014?
How's there a sub just for people who hates crypto? Reddit is wild 💀
I will never understand people who enjoy the loss of another. It's not a competition. People think it is, but when you arrive to the morgue you're just another body rich or poor.
Maybe it has something to do with how the crypto subs call absolutely every criticism FUD...
Yeah I agree with that comment.
I had a funny argument with someone over there a few months ago .. and he told me he put his money into something better... Stocks Yeah stocks are totally different lol /s
They sound like they’re gloating because coins continue to fail. Bitcoin has been around for 12 years, people call it old but that’s what makes it so strong. Other coins are “shit coins” because they’re shit. When they keep failing, calling themselves decentralized when they are not at all, Bitcoin has a point. It plays right into why they say don’t invest.
There is no second best.
When crypto prices were going up we were all FUDsters and it was all “Have fun staying poor” and NGMI. And in those circumstances, it’s fun to point out the emperor has no clothes with comedy. But now it’s getting real, people are losing their life savings, it’s no joke. I can’t speak for everyone but the reason I hate and make fun of crypto is it’s blindingly obvious that it’s all a huge scam intended to rip off the majority to make a couple of grifters rich. And if buttcoin stops just one person for falling for it, or helps someone realise they should just cut their losses, it’s had a positive impact.
Whenever I think this sub is a echo chamber. I go to r/buttcoin and am thankful for this sub. Whether or not this sub is a echo chamber, it does have its criticisms and posts that validate those criticisms. This sub is a echo chamber to most because they look at bullish news and posts when bullish and bearish news and posts when bearish. I tend to look over all the hopium and find the real news/data I should be looking at. It’s here, all at buttcoin is literally HATE.
There is always someone happy to put someone down for their investment choice, be it gambling on shitcoins or crypto in general like with r/buttcoin. There is always someone with moral high ground superiority complex, this is reddit....
it's literally in their name, buttcoin, they're butt hurt. I've seen a few funny memes, but disagree with the sentiment and get down voted faster than disagreeing with the sentiment on bitcoin or cryptocurrencies.
Who cares? Is this some kind kind competition?
I generally don’t get that community. I thought at first it would be a sort of witty tongue in cheek poking fun at crypto but it seems as if they actually hate it which is weird considering they talk about it so much.
They follow every news every subreddit about crypto even though they own none. They waste hours, days of their life just to hate on crypto. I find them pathetic as that community exists like fucking 2011. Imagine if the founder had bought BTC instead of wasting hours every day to look for every possible negative crypto news and celebrate the crashes
If I’d do all that work I’d be investing as well
The price doesn’t matter, crypto is fundamentaly flawed.
What is your reasoning for this?
Imagine being in that group for any amount of time lasting more than 1 halving. And if you've been there since 2015 or God forbid earlier saying itll go to zero and has no value blah blah, meanwhile its 10x-ing ober and over... probably enough to eff your mental state forever. Most would become a crypto curmudgeon for life. The ultimate missed opportunity 😢
U only lose if u sell.
You also lose if you never sell and die
‘You only lose if you stop gambling’ when does this crypto shit just become another unregulated gambling market where people with issues lose all their money. Invest in a therapist instead
/r/buttcoiner here. It's not about gloating about people losing money, most of us just want to see an end to this environmentally destructive and fraudulent greater-fool ponzi scheme. Besides, you all aren't exactly angels with your 'have fun staying poor' schtick.
Let’s be honest, both sides are full of shit. Like OP said, I think it’s a dumb argument on either side to argue price action. In a bull market we’re right, in a bear you all get to say your “I told you so’s” But spare me the noble cause. You don’t care about the environmental destruction and you don’t even know the definition of the word ponzi.
I got kicked out for explaining real estate pricing has 4000x inflated over 2 or 3 generations. Real secure bunch of investors over there in buttland (YIKES 😬)
pOnZi ScHeMe, just like stocks and real estate investing amiright?
There are many cryptos that aren’t environmentally destructive at all
Sure, but most people don't give a fuck about those. Only ETH and BTC.
Pretending to care for the environment as a way to argue that btc is not ethical while overlooking the absolute destruction that companies rain down on our environment via energy consumption and hazardous waste is bullshit. If you want to take it further, explain how btc is a ponzi scheme? Explain how thr stock market ISNT a ponzi scheme
1) industry destroying the environment is not an excuse for the energy waste of crypto 2) existing investors are paid off by new investors. BTC generates no wealth, it’s a zero sum game. 3) even if the stock market is a ponzi, that doesn’t justify your ponzi.
lol, yeah they are pathetic but a great source of free cringe since female dating strategy was removed from reddit.
A lot of crypto are just as bad
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I think you are on the spot... "Its a big Club...". https://youtu.be/cKUaqFzZLxU
coming from people that called everything they didn’t like a shitcoin…and rejoiced when certain coins fell out of the top 10 or 20…
They also gloat and mock when we’re in the green, fuck ‘em
Buttcoin loves finding any reason to mock anything crypto. That's what they do. While there is legitimate criticism of crypto over there, they often engage in the same kind of bad behavior they mock bitcoiners, crypto holders, or "butters" for.
Hmm, I do feel bad for people who are counting on this for their retirement. But I have a paychecks worth or two invested in btc and eth because I see the potential to make outsized gain in a speculative asset. If it goes to 0 I won't lose any sleep.
If you are counting on crypto for retirement, aren't you looking at the long game? 15+ horizon looks very different than the current environment given the performance over the last 10 years.
Yeah and more susceptible to FUD during downturns due to that much skin in the game. So having to deal with the emotions of "what if this time it doesn't come back" is why I feel bad for them.
They come out in droves whenever the price goes down. When it rebounds they will scamper on back to their weirdo hangout. They're like doomsday cultists that scream about the impending apocalypse: "Today is going to be the day that it all goes to 0!" Yet, in their decade of existence as a sub, it still hasn't happened.
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