Google searches for "shitcoin" reach new yearly high

18 Jul, 2019 | Updated: 20 Jul, 2019
by Richard Allen
News
Google searches for shitcoin reach new yearly high

During the recent crypto hearing held by the House of Representatives, Congressman Warren Davidson asked how an investor would be able to tell the difference between Bitcoin and a “shitcoin.” As a result of him using some crypto lingo, Google searches for the term have reached a new yearly high.

“You know, a lot of people in this space will use the phrase… I think you may be familiar with: there’s bitcoin and then there’s shitcoin. Are you familiar with that phrase and what people might mean by that?” asked the congressman.

Crypto expert Meltem Demoroirs pointed out that Bitcoin has weathered many storms and has withstood its fair share of hacks and attempts to control it. Additionally, throughout the line of questioning, it became apparent that the immutability of Bitcoin and it’s limited supply is different “than many other things people call, colloquially, shitcoin because the value can be distorted by a central authority.”

Following the frequent use of the term throughout the hearing, google searchers for the term skyrocketed:

Interestingly though, according to Google trends, the term “shitcoin” has been around for at least five years but exploded in popularity in early January 2018, corresponding with the 2018 cryptocurrency crash.

 

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Read more about: Bitcoin (BTC)

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