Bitcoin continues to make history. What do users of social platforms such as Weibo, Hupu, and Bilibili think about it?

Under the influence of the COVID-19 pandemic and large-scale money printing by central banks of various countries, the recognition of Bitcoin has become increasingly high both inside and outside the blockchain industry, directly driving the price of Bitcoin to break new highs continuously over the past year and creating a new high of US$60,000 on March 13.

At the same time, Bitcoin has appeared more and more frequently on Internet social platforms such as Weibo. Over the past year, "Bitcoin" has been on Weibo's hot search list many times as a keyword. Users of Douban, Hupu, Bilibili and other platforms have also been discussing Bitcoin and its rise and fall more and more in the rapidly fluctuating market. However, unlike the unprecedentedly high bullish sentiment among industry insiders, most traditional social media users still have doubts and unfriendly attitudes towards it.

In order to more comprehensively present the changes in attitudes and emotions towards Bitcoin on Internet social platforms such as Weibo, Hupu, Bilibili, and Douban, Chain Catcher has collected content comments from users on these platforms regarding the drastic price changes of Bitcoin and related popular science topics for readers' reference.

1. Comments on the surge in Bitcoin prices

From the second half of 2020 to the present, as Bitcoin has risen rapidly and continued to break new highs, user comments with high likes often include keywords such as "scam", "imminent collapse", "tulip bubble", and "leeks entering the market to take over".

On December 31, Bitcoin rose above $28,000. Comments below the video on Station B

Comments below the Caijing.com Weibo post on January 3

January 6 Hupu Discussion Forum

January 2, The Paper comments section

January 14 Hupu Discussion Forum

On February 12, BTC rose above $48,000, comments below the video on Station B

On February 21, BTC broke through $47,000. Comments below the B-war video

On March 12, BTC broke through $58,000, and the following comments were made on Sina Finance Weibo:

On March 14, BTC broke through $60,000. Comments below Phoenix Finance Weibo

2. Discussion on the news of Bitcoin’s sharp drop

Amid the short-term market crash, many users of traditional social platforms mocked it as a "Ponzi scheme", "a scam to make money", and "a bubble", but a small number of users said "the more it falls, the more I buy."

January 4 Hupu Comments

February 15 Weibo Comments

Comments below Caixin Weibo on February 23

3. Comments on the popular science content of Bitcoin

As Bitcoin has gained more and more attention, many traditional social media platforms have started to publish popular science content. However, the majority of comments under such articles or videos are still doubts about Bitcoin, such as "bubble", "scam", and "money laundering". In contrast, the comments under the popular science videos on Bilibili are seriously discussing the value of Bitcoin.

Douban Comments

B station comments

Weibo comment: As the famous investor Paul Graham expressed in "Hackers and Painters", "Everyone claims to be 'open and inclusive', but in fact, they have long determined what is right and what is wrong. In their view, all opinions are debatable, except those they think are wrong."

Perhaps, people inside and outside the industry have this cognitive bias, but Bitcoin's role in value storage and payment has been initially demonstrated, and the cognitive conflicts and corrections of Bitcoin within and outside the industry will continue for a long time.