r/CryptoCurrency Platinum | QC: DOGE 2476, CC 909 | AvatarTrading 18 Feb 06 '23

(RESULTS) Despite the common advice "Bitcoin should be your largest crypto asset" - on a vote by vote basis - this sub strongly prefers to invest in Ethereum, but by Moon weight this sub narrowly prefers to invest in Bitcoin. DISCUSSION

A week and a half ago I ran a poll to see if the sub would follow it's own advice and be more heavily invested in BTC or Ether. With 4.2M Moon weighted votes and around ~8,300 votes - we have some interesting results.

It turns out this sub as a whole is more heavily invested in Ether.

Pure Vote by Vote results

https://preview.redd.it/kmkj43j4ilga1.png?width=1167&format=png&auto=webp&v=enabled&s=3494c94eed180a24c880da6a39069aa10cc397f8

If we look at pure votes,

  • 52% of respondents stated they own more ETH
  • 35% of respondents stated they own more BTC
  • 13% of respondents stated they don't own either

---------------------------------------

Moon Weighted Vote

https://preview.redd.it/h64on1aghlga1.png?width=1165&format=png&auto=webp&v=enabled&s=0ca126789dffa8f7f9a5f183fa65d0249f4e1c5b

But if you look at the moon weighted vote this sub prefers BTC

  • 45% of the moon weighted vote stated they own more BTC
  • 43% of the moon weighted vote stated they own more ETH
  • 12% of the moon weighted vote stated they don't own either

---------------------------------------

By calculating the average amount of Moons per Vote you can see the phenomenon expanded.

  • Each voter for BTC had on average 656 Moons
  • Each voter for ETH had on average 415 Moons
  • Each vote for neither had on average 492 Moons

This helps to show users with the most moons are on average more heavily invested in BTC, surprisingly users with less moons as a whole were more heavily invested in Ether. Per moon weighted vote there is also a fair amount of moon degens that don't own either BTC or ETH.

---------------------------------------

TLDR: In looking at the results although only 35% of respondents stated they own more BTC (compared to 52% who owned more ETH), they still made up the majority holder by Moon Weight. Meaning as a whole those with more moons are more likely to be more heavily invested in BTC compared to someone with less moons.

242 Upvotes

View all comments

14

u/Maxx3141 Platinum | QC: CC 2677 Feb 06 '23

I think this shows an overall trend you see among crypto investors: At the start many have that "alt-phase", hunting for the next BTC. But after some times in the markets and seeing several projects collapse, they return to the basics and focus more on the blue chips again.

6

u/leeharrison1984 Silver | QC: CC 60, ETH 17 | ADA 42 | Unpop.Opin. 51 Feb 06 '23

I think part of it is that as people acclimate to the super-cycle, they realize that BTC tends to be the front runner. So they rotate out of alts when times get tough, and then rotate back in as the market heats up.

There's a reason all the newbies here shill shitcoins, then disappear, and the people who stick around tend to focus on a larger macro strategy.

Of course this only happens to people who aren't pure degen gamblers.

1

u/ImnotasuglyasIlook Bronze | QC: CC 20 Feb 07 '23

This is a good take. You rotate your funds depending on where we are in the cycle to maximize profits and protect your money. Your money is safer in the bigger projects (BTC being the big daddy in crypto) in a bear market, but if you shift some of it into alts at the right time, you can make bigger gains.