SatoshiStreetBets Reddit Community Takes Crypto to the Moon

WallStreetBets has a ripple effect. Now, crypto enthusiasts are gathering at the subreddit SatoshiStreetBets.

Rachel Curry - Author

May 7 2021, Published 1:28 p.m. ET

Computer screen with data and SatoshiStreetBets logo

WallStreetBets has influenced a newer subreddit dedicated to the crypto fandom, many of whom want to take currencies like Dogecoin and Ripple to the moon. It's called SatoshiStreetBets, and almost half a million readers are tuned in to the conversation.

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What are SatoshiStreetBets users saying on and off Reddit about their favorite cryptocurrencies? 

SatoshiStreetBets keeps DOGE in the conversation.

SatoshiStreetBets users have been hyping Dogecoin for months. In February, one user posted the DOGE logo on a one-dollar bill to promote the coin's ascent toward a dollar valuation. As of mid-morning on May 7, Dogecoin's value is at $0.60, although a recent peak led to the coin near $0.70. Experts suggest that the coin has a 16.7 percent implied probability of reaching a dollar by the end of the year.

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Some are also posting "loss porn" on their unfavorable Dogecoin purchases, which they sold too soon or bought at the wrong time. 

SatoshiStreetBets on XRP: The convo is controversial

Ripple's value has increased tremendously over the last year, even though the coin was delisted from Coinbase. 

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SatoshiStreetBets users share details about XRP on the fly, like the fact that a former U.S. treasurer joined Ripple on the board of directors. The former U.S. treasurer is Rosa Gumataotao Rios, who served in her governmental role from 2009–2016 under President Obama. 

The subreddit is torn between loving and hating XRP. Many mention the coin's potential for massive gains (a WallStreetBets staple), while others point out Ripple's wealthy executives and current SEC lawsuit

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SatoshiStreetBets talks Stellar XLM

Stellar XLM is a digital currency protocol that lets users create and issue bare assets. Unsurprisingly, SatoshiStreetBets users are on the ball with XLM.

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XLM has an impressive chart over the last year. SatoshiStreetBets users point out that Stellar has cheap or free transfer and withdrawal fees compared to the market. There's also discussion on Coinbase Pro, which offers cheaper trading for serious cryptocurrency investors interested in assets like XLM. 

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SatoshiStreetBets has a popular Discord channel.

Discord is a place where communities can go to share texts, calls, and media on a private server. SatoshiStreetBets has its own Discord community, which boasts more than 45,000 members with 6,245 members currently online as of this writing.

Reddit is a public forum where anyone can view the content and search through the feeds. Those who want a more private place to discuss the nuances of cryptocurrency and make big bets might want to transition to the Discord platform. 

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SatoshiStreetBets is also on Telegram

Telegram is another popular messaging platform that SatoshiStreetBets users have infiltrated. This cloud-based messaging software is end-to-end encrypted, which is an important feature for people who prioritize privacy. SatoshiStreetBets is on Telegram with more than 74,000 members and 12,473 members online as of this writing.

With the subreddit itself plus Discord and Telegram, SatoshiStreetBets has numerous places to reap the rewards of the community. If that isn't enough options for people to choose from, I don't know what is. 


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