LinkedIn as a New Home for Bitcoin Groups
Aug 25, 2014

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It would appear that Bitcoin communities have found a new home in the LinkedIn social network. Until now, most Bitcoin community activity has been happening on reddit, a social network that allows a topic to have multiple threads and sub-threads in addition to the standard inbox facilities present in all social networks. Reddit followed by Twitter still hold a commanding lead on matters bitcoin. With the growth of bitcoin communities on LinkedIn, there are reasons why you should be paying attention.

LinkedIn is the world’s premier social network for professionals. As of June 2013, the site boasted of more than 250 million users, located in more than 200 countries around the world. LinkedIn continues with its growth path and current CEO Jeff Warner has ambitious plans for the company. One of the plans includes creating an economic graph that will show connections in the global economic activity. This would mesh quite well with Bitcoin and other virtual currencies. Thousands of businesses around the world now accept payment in bitcoin, and these could spur more trade connections around the world.

It is not surprising therefore that with Bitcoin emerging as a serious cryptocurrency, convergence is beginning to happen between Bitcoin and LinkedIn. Already there are plenty of groups on LinkedIn dedicated to the use of Bitcoin. In this article five of them will be dicussed.

The first one is a group called Bitcoin P2P Digital Currency. This group is members only group and currently boasts over 9,000 members. It is safe to say that this group may be one of the oldest ones on bitcoin. The second largest group is simply called bitcoin with about 2,000 members. Just like the first group, this one too is restricted to members.

The third group is entitled Bitcoin Entrepreneurs and Startups, and also holds over 2,000 members. The group’s raison d’etre is to enable members exchange ideas on doing business in bitcoin. A group like this critical as it enables members focus on the business side of bitcoin. Sometimes bitcoin communities tend to dwell more on the technical aspects of bitcoin to the detriment of enabling bitcoin for business. Though the uptake of bitcoin is definitely on the upward swing, groups such the above can do much good in enabling its ubiquity.

In fourth place is a group called Bitcoin Networking Group owned by Cryptor Trust Inc. According to its website,  Cryptor Trust Inc is a global think tank and investment company in bitcoin and crypto related assets. The company’s group has 1,370 members. Lastly, there is a similar group called Bitcoin Private Equity & Investment Group which boasts of 1,264 members. The other bitcoin group with more than 1,000 members is Bitcoin Europe.

It is worth noting that of the top five groups, three are dedicated to startups, equity and investment. As more businesses adopt bitcoin as a form of payment, and professionals seek to diversify their investment portfolios, it is likely that bitcoin will emerge as an attractive option. Given that bitcoin is not doing too well currently, investors may be jittery about holding digital assets. The long-term outlook still remains positive, and it is expected that the price of bitcoin may yet rebound once more. In the meantime, try out one of the bitcoin groups, or better yet start your own.

Bitmaina for CEX.IO

Product Team
Product Team

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