The subreddit that wants to see Bitcoin die

No, it’s not r/boomershumor or r/banking. Sub is called buttcoin and I must admit, it’s almost good change of atmosphere from everyone being bullish and screaming “undervalued”, “crypto on discounts”. It’s not as much of a hate towards crypto but a bit more harsh look at the technology we are dealing with.

David Gerard has not a kind word to spare for any part of the $1.4 trillion cryptocurrency market. “It’s dumb nerd money that nerds use to try to rip each other off,” he says. Bitcoin in particular earns his ire. “Its history is a series of get-rich-quick schemes,” says Gerard, a 54-year-old IT administrator in London. He does not even have anything nice to say about the widely applauded technology underlying crypto, the digital ledger system known as the blockchain. “A pile of nonsense,” he concludes.

He has amassed a modest Twitter following spouting off like this (13,300 followers) and has self-published several books on the subject (Attack of the 50 Foot Blockchain and Libra Shrugged: How Facebook Tried To Take Over the Money). When Gerard wants to commune with other crypto haters, he heads over to a burgeoning corner of the web: a Reddit forum called Buttcoin, the name a suggestion that cryptocurrencies are, well, a waste of time. He often posts there several times a day and spends more time commenting on what the group’s other 63,000 members publish. “Every other Reddit about cryptocurrency is full of cultists! Or marketing shills. Or both,” he says.