If you ever start feeling too good about yourself, or your crypto investments, why not take a few minutes and head over to r/Buttcoin on Reddit. As far as I can tell, this is an entire Reddit forum dedicated solely to people who missed out on making money with crypto and now need a community to feel bad about it with.
One user, David Gerard was recently interviewed and the anti-crypto cultist had this to say:
“Every other Reddit about cryptocurrency is full of cultists! Or marketing shills. Or both,”
The “Mensa” member continued with this about crypto:
“It’s dumb nerd money that nerds use to try to rip each other off.”
And finally, his thoughts on blockchain Technology in general, and the reason I know his rants are based on jealousy and not logic:
“A pile of nonsense.”
Now, I get that people enjoy their little bit of Schadenfreude when someone posts that they lost a lot of money on an altcoin. Amy Castor, another user posted:
“There are a lot of ridiculous things that happen, so ButtCoin is a place where you go to poke fun at all that.”
Let us take a bigger picture look at this, though. In general, this forum is essentially doing what any group does, from sports fans to insurance agents. Using the downturn of a group they oppose to boost themselves up. In the business world, this is done for money. In the political realm, it is done for power. In the case of r/Buttcoin, it is done for ego.
Just to take an easy example, say you are a Tampa Bay Buccaneers fan. (For those who don’t follow the NFL, Tampa Bay is a usual bottom dweller.) For the last year, you have been able to talk down to all other NFL fans around the country saying that your team is the best and smartest and you got Tom Brady and you won the Super Bowl and all other teams are cesspools of talentless hacks. Great, but we all know for most of Tampa Bay’s existence, you sucked. Same with r/Buttcoin. They are enjoying a few weeks, and maybe it will be months, of talking about how bad cryptocurrency is. The recent comments on DOGE were prevalent on the forum. Yet, it still seems a little hollow. If you take DOGE in the last six weeks, yes it easy to rip on. I would point out, though, if you bought DOGE six months ago, even if it drops all the way back to .01, you will still be up about 1000%. It is enough to make a r/Buttcoin member bury their head and cry into their Warren Buffett biography. (The biography is called “The Snowball,” there is a joke in there somewhere, I just can’t think of it right now.)
Hey, when the Atlanta Falcons win the Super Bowl, I will be the first one saying all you other fans are motherless goats (I will probably have time to work on my insults, as Atlanta won’t be winning anytime soon.) Until then, I will sympathize with anyone in the red on crypto, and enjoy when you make it all back and then some.
Thanks for reading.
"Whatever you do, don't conform. People may not talk to you, but, they'll talk about you and that is even better." Max Headroom
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