Earlier this month, Ethereum World News reported that the Bitcoin (BTC) subreddit group has surpassed one million subscribers. The /r/Bitcoin subreddit is the de-facto hub of all online discussion about Bitcoin (BTC). Now, the Bitcoin subreddit has joined the list of online forums with such a huge amount of user base.
As a result of this occurrence, a lot of commentators came out to congratulate the community. A diehard Bitcoin (BTC) proponent and Ethereum critic – Tuur Demeester – said that the ground-breaking achievement caught him by surprise, before congratulating the integral members and moderators of the forum.
The In-House Bitcoin Community of Reddit Grew by 380,000 in 2018
While surpassing the one million subscribers mark was a great milestone, it did not really paint the whole picture for the performance of subreddit in 2018. A long time Bitcoin (BTC) developer and chief technology officer at Casa – Jameson Lopp – recently noted that the in-house Bitcoin (BTC) community of Reddit grew by 380,000 this year. This is a growth of 61 percent throughout this year.
In a tweet, Jameson Lopp said, “The rate of new subscribers to the /r/Bitcoin slowed considerably after the exchange rate of the digital currency dropped. But it still increased in size by 380,000 – a growth of 61 percent in 2018.”
Bitcoin (BTC) Price Today – BTC / USD
While this is down from the growth seen last year – 200 percent – 61 percent is not still bad. That figure is still pretty impressive considering the fact that the digital currency lost more than 75 percent of its value during that same period. This growth level gives credibility to the fact that the fundamentals of Bitcoin (BTC) have continued to boom, even as the value of the coin plunges. This further indicates that the narrative of the digital currency is striking a chord with those across the globe.
Nevertheless, there are some people out there that are not satisfied with this metric. A digital currency investor and researcher – Spencer Noon – said that while he would like to believe the 61 percent growth, it is a metric that’s highly gameable.
He also said that the strength of the digital currency community is difficult to determine. However, even if the 61 percent growth is not accurate, there were a lot of other factors that showed that Bitcoin (BTC) boomed this year.
Bitcoin-Centric ATMs Surged by 100 Percent in 2018
Jameson Lopp also acknowledged the fact that there was a 100 percent increase in the number of Bitcoin (BTC) ATMs this year. The number of BATMs doubled to 4,000 in 2018. This gave crypto consumers another means of cashing-out and cashing-in of the crypto-verse.
The 100 percent growth of Bitcoin-centric automated teller machines in 2018 continues a 3-year trend of 100 percent year-to-year growth. A recent poll on Twitter showed that not more than 20 percent of people have used this kind of digital currency infrastructure.
However, many have praised Bitcoin ATMs as a means of enhancing global adoption. Nevertheless, perhaps the prospects of BATMs are not all rainbows and sunshine. According to Coin ATM Radar, the growth rate of BATMs has started slowing down. Only 1.7 BATMs are now being installed on a daily basis compared to the 4+ seen in the summer of 2018.