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High degree of overlap between r/poor and crypto subreddits
- cybarDOTlive 5y agoNo wonder they're poor!
- godmode2019 5y agoYouthful people are poor and typically interested in quick ways of making money
- qez 5y agoPeople will overgeneralize this. The biggest similarity is that they are both personal finance / money related subreddits. The other connections are mostly the human mind making a story. Not everyone on r/poor is poor, not everyone on r/btc owns a lot of bitcoin.
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- notdemo88 5y ago
- pcthrowaway 5y ago> not everyone on r/btc owns a lot of bitcoin. /r/btc is actually the bitcoin cash subreddit (though they welcome conversation of other cryptos). Most people in that sub probably hold very little bitcoin if any (except perhaps those who joined by accident). In /r/bitcoin you get banned for discussing other cryptocurrencies, so I'd wager most of the subscribers hold more bitcoin than anything else.
- after_care 5y agoThat’s because they are both in the money cluster. People that want to post/comment in one subreddit about money are more likely than the average population to want to post in another subreddit about money.
- ramoz 5y agoThe mobile site hijacks the back button for some reason. At least for me, ios/safari
- lelandfe 5y ago`getOverlappingSubreddits()` uses `history.pushState()`. To the devs: please use `replaceState()` instead. https://developer.mozilla.org/en-US/docs/Web/API/History_API/Working_with_the_History_API https://developer.mozilla.org/en-US/docs/Web/API/History_API... ...But also consider why you need to manipulate history when the link is visited directly. I'd imagine that's a side effect that should be extracted from that function.
- yelnatz 5y agosame in chrome windows
- deleted 5y ago[deleted]
- rPlayer6554 5y agoSame on Firefox, android
- concomitant 5y agoFolks interested in crypto on reddit are probably more aspirational than expert
- throw1234651234 5y agoI doubt more than 10% of people who buy crypto are "experts". In the sense that most of them can't explain how a blockchain works (even roughly), what problem it's really supposed to solve, and what the actual difference between BTC and ETH is, let alone other chains, DeFi, NFTs, etc. The reality is that it's very, very difficult to understand crypto in any real sense. And that's without considering that whichever side of the argument you lie on - crypto is a weak proposition insofar that so is gold and cash.
- coldtea 5y ago>what problem it's really supposed to solve Experts don't have a good answer for this either (except making its designer and early miners/buyers rich).
- NaturalPhallacy 5y ago"Cryptocurrencies are harmful to the banking system and may weaken the state apparatus" is Monero's promotional tagline. That's why I bought into bitcoin over a decade ago. It's not the banks' tool.
- kleer001 5y agoIt's mainly a solution to the Byzantine Generals problem which is basically about forcing trust among the trustless or untrustable. How does it solve that? By forcing the participants to invest in the system in such a way that they can only participate in a trustable way. That may seem like circular reasoning, but the details get into nested rabbit holes that cross computer science, cryptography, psychology, and economics. Best to read up on it for more explanation. As it's over a decade old it should be trivial to find commentary in your preferred language and level of analysis with only the simplest of queeries.
- 5y ago
- giantg2 5y agoSelection bias? I doubt there are many rich people on subs to get rich (crypto, stocks, etc). Except for entertainment and gambling.
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- kristopolous 5y agoPoorness here exists as a relative self identifier since this is a statistic based on a voluntary action. People who think they're poor aspire for a substantially better existence and have lives of fear and uncertainty. That's the real correlation here, it's why there's also a strong correlation of purposefully optimistic subreddits and other types of fear abatement. What does uplifting news, Walt Disney world, firearms, mgtow, and cryptocurrency have in common? They all collectively feed the same desires, not necessarily describe the financial holdings of the participants
- wyxuan 5y agor/poor is only a subreddit with 7.2k members (tiny!) so I wouldn't read too much into things, in addition to what others have to say about overgeneralization.
- trashcan 5y agor/povertyfinance is much bigger (spin-off of r/personalfinance) https://subredditstats.com/subreddit-user-overlaps/povertyfinance https://subredditstats.com/subreddit-user-overlaps/povertyfi...
- alisonkisk 5y agor/poor is an extremely tiny subreddit with only 7.2K subscribers. r/povertyfinance has 975K subscribers. https://subredditstats.com/subreddit-user-overlaps/povertyfinance https://subredditstats.com/subreddit-user-overlaps/povertyfi...
- temp0826 5y agoCurious of overlap with gambling addiction subreddits.
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- smm11 5y agoFortune favors the _______.
- davidrupp 5y ago"fortunate"
- NaturalPhallacy 5y agolucky
- vlark 5y ago"rich"
- KarlKemp 5y agoNot just crypto, but the whole enchilada of toxic masculinity[0]: guns, UFC, get-rich-or-die-trying prosperity gospel, “seduction techniques”, and so on. There’s even “murderedbywords” for the best-phrased contrarian put downs, a place that manages to be more like HN than HN itself. All the typical props of the interior decoration of the modern loser’s mind, in one place. [0]: chill, dude! Your masculinity is non-toxic, probably. In fact the term acknowledges non-toxic masculinity as the default , since otherwise there wouldn’t be a need to add the modifier. Edit, to reply to the flagged troll: the women seem to all be at /r/povertyfinance: https://subredditstats.com/subreddit-user-overlaps/povertyfinance https://subredditstats.com/subreddit-user-overlaps/povertyfi.... The connected subreddits there tell a somewhat different story. Of pragmatism instead of stewing in grievances and hoping for an easy way out. I’d speculate that ‘r/poor really doesn’t have too much actual poverty, but rather it’s a social poverty the members feel, which they hope to get out of by becoming billionaires (and/or “negging”). /r/povertyfinance is about actual poverty, where you’re trying to find out if you can still eat that food or how to fix the car without spending money.
- WalterBright 5y agoThere's nothing "toxic" about wanting to become wealthy, and taking steps to do it. In fact, it's the basis of the American economy. We all have iphones, for example, because Jobs wanted to get rich.
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- whatare1234 5y ago
- sometimeshuman 5y ago
- WalterBright 5y agoHowever, there is no data on whether r/poor correlates with the participants being poor.
- 6gvONxR4sf7o 5y agoI can't help but feel bad for a lot of the stuff I read in the crypto subs. They read about people who invested like $10k into crypto and became a millionaire, then invest $100 and hope for the same. The amount of disdain in those subs for safe investments is borderline dangerous and the prevailing attitudes there are going to leave most of them worse off than they'd otherwise be.
- ashtonkem 5y agoMy suspicion is that this is caused by both the marketing that crypto has done, and the wide ranging perception that the official mechanisms for investment and wealth growth are rigged against most Americans.
- throw1234651234 5y agoThat perception is generally correct. Even having switched to tech from another field I took seriously...it's still luck that I was able to do so to a significant degree.
- twiceaday 5y agoI see the second part routinely pushed by crypto believers.
- ashtonkem 5y agoI also see it a lot outside of crypto. Heck, it’s starting to show up in surveys about “the American dream”, lots of people now think the system is rigged.
- wanderingmind 5y agoMaybe the Fed should have thought about it when they obliterated the interest rates which used to be the safe and default form of investment for poor and old.
- lwansbrough 5y agoTo be fair I've lost over half my investment in ARKG in the past year.
- omginternets 5y agoI bet there's a high degree over overlap with /r/student as well.
- asdfaoeu 5y agoInteresting that r/waltdisneyworld is also there.
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- kmonad 5y agoNot clear how the stats are obtained, and from what data. It would probably be useful to match each subscriber to r/poor with a non subscriber that is similar, i.e. similar account age, similar numbers of total subscriptions, etc. If instead the "control group" is all non-subscribers to r/poor, I could see accounts that subscribe to nothing other than r/all, or throwaway accounts, etc. skew the entire analysis.
- subsubzero 5y agowell not surprising to see /bayarea on there as its insanely expensive
- mtw 5y agor/poor only has 7k members - it's insignificant compared to other subs Try to see overlaps for r/frugal or r/bitcoin if you really want to see if poverty is linked to crypto
- nckmi 5y agoDefinitely an odd choice for a representative subreddit. I hadn't heard of it until I saw this HN post. Far more interesting (if predictable) is the list overlapping subs with r/povertyfinance subscribers: https://subredditstats.com/subreddit-user-overlaps/povertyfinance https://subredditstats.com/subreddit-user-overlaps/povertyfi...
- nmilo 5y agoFunny to note that the top post of all time in r/poor is someone telling people to "Buy even 10 dollars in Bitcoin at a time if that's all you can spare," with investment advice stating: > It's the best way to save/grow an emergency fund. And if you can hold indefinitely, then you can grow true financial freedom by saving even just 5 dollars at a time, anytime you can spare to do so in Bitcoin. Don't think of it as an investment, think of it as a savings account that works and doesn't lose buying power thanks to inflation.
- daenz 5y agoYou weren't kidding[0]. I can't tell if the people posting and endorsing it are naive or predatory. 0. https://www.reddit.com/r/poor/comments/m0yo9l/buy_even_10_dollars_in_bitcoin_at_a_time_if_thats/ https://www.reddit.com/r/poor/comments/m0yo9l/buy_even_10_do...
- actusual 5y agoand only 10 months ago...
- AlexCoventry 5y ago> I can't tell if the people posting and endorsing it are naive or predatory. If you believe the post, the author is giving this advice because it worked for them. There are a lot of people like that.
- hypertele-Xii 5y agoTechnically, also true for a ponzi scheme. Anyone invested in crypto will increase the value of their holdings by getting others to buy in and exiting before they do.
- ashtonkem 5y agoAny good scam like that is going to contain both in significant numbers.
- giantrobot 5y ago
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- nostrademons 5y agoNote that if you reverse the direction, r/cryptocurrency has a much higher correlation to r/stockmarket, r/investing, r/fatfire, r/realestateinvesting, and r/collapse than to r/poor. Same goes for r/bitcoin. r/poor does not even make the list when viewed from the crypto subreddits. I think this is simply that crypto subreddits are big, and so if you try to find the overlap between r/poor and anything else, a big subreddit will be high on the list. Same reason that r/bayarea is high up on the overlap list for r/poor - at first glance, the assumption is that poor people live in the Bay Area, but then when you reverse that causality and look at what Bay Area people are interested in, r/fatfire, r/costco, r/realestate, and r/cscareerquestions are way higher than r/poor, which again doesn't make the list.
- andrewmcwatters 5y ago"A lot of /r/poor readers read /r/btc, but not all /r/btc readers read /r/poor."
- mraudiobook_com 5y ago
- cwkoss 5y agoThere are only 7,157 subscribers to /r/poor There are 194,177 subs in /r/coinbase and 3,780,323 in /r/bitcoin. Given the low numbers and selection bias of subreddit membership, it seems hard to draw any meaningful conclusions. If you assume everyone who subscribes to /r/poor is poor AND everyone in /r/poor is also on crypto subreddits AND crypto subreddit users are representative of broader populations (very tenuous assumptions), that means our lower bounds are: - /r/coinbase is 3.7% poor - /r/bitcoin is 0.2% poor Both of those are well below the general poverty rate so... who cares? /r/poor subscribers probably are not a representative sample of poverty anyways, so these are pretty meaningless statistics.
- tomtheelder 5y agoIf I understand it correctly, it's suggesting that a user of /r/poor is 118 times as likely to comment on /r/btc than the average user. I don't think the crypto subs being large has any significance whatsoever. If anything it just strengthens the signal when you're looking at it in that direction. Reversing the direction doesn't mean much. It just means that users of crypto subs have stronger links elsewhere, like to investing. If you were going to try to draw a really big conclusion from this (you shouldn't) it would be something like "a large portion of those who are poor are involving themselves with crypto," not like "being into crypto will make you poor."
- chrisseaton 5y agoPoor people desperate to make money. Who'd have guessed? Seems wrong to try to shame them like this.
- neilv 5y agosubredditstats.com results look plausible, based on another example: https://subredditstats.com/subreddit-user-overlaps/bayarea https://subredditstats.com/subreddit-user-overlaps/bayarea
- IAmGraydon 5y agoPoor people use what little money they have to purchase hope. It comes in many forms. Hope allows one to live in a future fantasy which is less painful than the present moment. Hope may be the most basic human emotional need.
- malwarebytess 5y agoI have made a lot of money on Bitcoin, and only bitcoin. It paid for my education, my house, and my future retirement. But I knew about it from 2009 and started mining in 2011. I'm under no illusions: the money I made from Bitcoin didn't come from nowhere. It came from people losing their savings and gambling money they shouldn't.
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- oneoff786 5y agoCommenters don’t seem to understand what the metric means. This is saying that a subscriber to r/poor is 118x more likely to engage with r/btc than a randomly chosen redditor. It doesn’t mean that bitcoiners are more likely to be poor. It doesn’t really mean poor people are likely to be on btc either if r/poor is just not representative. But the initial statement does seem solid. The size of the group doesn’t really impact this assuming it’s not tiny.
- jerojero 5y agoTo me it is much more interesting to think about the relationship between r/poor and r/waltdisneyworld. Why? Escapism?
- cirrus3 5y agoThis website does that thing where the back button locks you in. How is this not a solved problem by now?
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