Rising Bitcoin Subtractit
As reported by Ethereum World News at the beginning of December, the subreddit of / r / Bitcoin, the hub in fact of all online discussions on BTC, has exceeded one million subscribers, joining an exclusive list of online forums that have exceeded this number of users. Following this, numerous commentators congratulated the community. Tuur Demeester, a supporter of Ethereum and irreducible Bitcoin, said that the target caught him by surprise, before congratulating the moderators of the forum and integral members.
And while this milestone was great to overcome, the one million figure did not paint the entire framework for subreddit performance in 2018. More exactly, as recently noted by Jameson Lopp, the Home Technology Manager and one BTC's longtime developer, Reddit's internal Bitcoin community grew 380,000 units in 2018, up 61% for the rest of 2018.
The rate of new subscribers to / r / bitcoin subreddit slowed considerably after the fall in the exchange rate, but it still grew by 380,000 users – 61% growth in 2018. pic.twitter.com/2UdYlw0Y9N
– Jameson Lopp (@lopp) December 28, 2018
And while this is down from the 2017 growth rate of ~ 200%, 61% is still impressive, especially considering the fact that BTC has plummeted by 70% during the same period. This figure gives credit to the fact that the fundamentals of Bitcoin have continued to grow, even if prices stutter, to further indicate that the narrative of the good is in stark contrast to those of the whole world.
However, some were not satisfied with this metric. Spencer Noon, researcher and investor of cryptocurrencies, said that while he would like to believe the figure of 61%, it is an "extremely playable" metric. Noon added that the strength of the crypto community is difficult to determine. However, even if the 61% growth figure is not accurate, there have been a number of other key factors indicating that the Bitcoin boomed in 2018.
Bitcoin ATMs doubled in 2018
In a tweet published just a day after the aforementioned, Lopp emphasized the fact that the number of Bitcoin ATMs (BATM) doubled in 2018 to 4,000, giving consumers another means to cash in and collect the cryptosphere. The growth of ~ 100% in the BATMs of 2018 "continues a three-year trend of 100% growth year on year", as Lopp argues. And while a recent survey on Twitter revealed that less than 20% of people have used this form of crypt infrastructure, many have praised the BATM as a way to catalyze global adoption, making this statistic bullish unparalleled.
However, perhaps the BATM prospects are not all sunshine and rainbows. For the rankings compiled by Coin ATM Radar, a popular website that provides information on BATMs, growth started to stagnate, with only 1.7 BATM installed every day, compared to the 4+ figure of the summer 2018.
Still, many have claimed that they still see the potential in such machines, as there remains an open flaw on ramps on land in developing nations. And considering the unique features of BATM, some have claimed to be able to fill this hole perfectly.
Title Image Courtesy of Marco Verch Via Flickr