On May 28th 2014 I posted a cryptocurrency survey to the following subreddits: • r/bitcoin • r/litecoin! • r/DRKcoin • r/vertcoin • r/dogecoin I also posted it to twitter via my handle @RyanMWalker. I received 148 responses. The contents of this report include the analysis, some serious insights, and some not-so-serious insights.

1. By: Ryan Walker
The Cryptocurrency
Reddit Survey 2014
On May 28th 2014 I posted a
cryptocurrency survey to the following
subreddits: !
• r/bitcoin!
• r/litecoin!
• r/DRKcoin!
• r/vertcoin!
• r/dogecoin !
!
I also posted it to twitter via my handle
@RyanMWalker. I received 148 responses.
The contents of this report include the
analysis, some serious insights, and some
not-so-serious insights.
Twitter: @RyanMWalker 1

2. In my research and education specific to cryptocurrency I have become very interested in the idea of currency becoming a
MEME. Furthermore, I am intrigued by the possibility of a future where cryptocurrencies are selected by users in the same
way the people currently select product brands or news networks, tailored to their personal ideologies and preferences.
Hence the origins of this brief survey to better understand the degree to which this phenomenon may or may not exist. The
survey includes several Pareto Charts, bar charts, and line charts.!
It should be noted that this survey was created rather informally. While I was hopeful I would get enough responses to
derive some statistically sound conclusions I was surprised to have received almost 150 responses in total. Had I known I
was to receive such a great sample I would have certainly put more thought into the creation of the survey to make it as
insightful as possible.!
With that, the information enclosed can not be considered entirely random as the majority of responses are predominantly
from the Reddit community. The data should not be interpreted as such to reflect the entire community of cryptocurrency
owners. Finally, only 4 alternative crypto currencies were selected for focus and I acknowledge this leaves out several good
candidates that may have proved even more insightful.!
I am pleased to report that all of the original respondents who chose to share their address have been sent several satoshis
in gratitude for their participation. Many thanks to these respondents and the Reddit & cryptocurrency community for
being so open with their information.!
Best Regards,!
Ryan
Background Info
2

3. TABLE OF CONTENTS:
Section Page
1. Political Ideologies & Cryptocurrency 4
2. Type of Cryptocurrency Holdings vs. Awareness 12
3. Bitcoins vs. Altcoins 15
4. Fun Stuff - Movies & Home Preferences 18
5. Final Conclusions 23
3

4. Section 1:
Political Ideologies & Cryptocurrency
4

5. Political Ideologies & Cryptocurrency
Count 64 48 19 17
Percent 43.2 32.4 12.8 11.5
Cum % 43.2 75.7 88.5 100.0
AnarchistConservativeNone of the AboveLiberal
160
140
120
100
80
60
40
20
0
100
80
60
40
20
0
Count
Percent
1719
48
64
Which of the following ideologiesdo you most associate yourself with?
All Responses (n = 148)
! Implications with the
cryptocurrency space are that
political ideologies are strongly
linked to specific cryptocurrencies. Be
it anonymity & privacy, economic
schools, or affiliation with established
political parties, these themes are
widely recognized. This section
shares some data related to specific
political affiliation by type of
cryptocurrency owned.!
! One large regret in the design
of the survey was the failure to
include “Libertarian” as an option. I
strongly believe that respondents of
the “Libertarian” ideology have
recorded their responses in the
category of “None of the Above”.
Unfortunately this muddies the
waters between pure Libertarian
participants and others who simply
do not subscribe to any of the
responses made available to them.
CONCLUSION: For all respondents (n = 148) 43% identified themselves as being liberals. Only 12.8% of respondents identified
themselves as conservative. It should be noted that 32.4% responded as “None of the Above” though this may reflect a large
number of Libertarian responses.
5
With which of the following ideologies do you most associate yourself with?
( All Responses = 148 )

6. Political Ideologies & Cryptocurrency
CONCLUSION: While each category of political ideology share relatively similar percentages across crypto currencies it should be
noted that Vertcoin owners indicated they are more prone to being Anarchists (18.8%) and Darkcoin owners are more prone to
being Conservatives (17.5%).
6

7. Political Ideologies & Cryptocurrency
7
Count 50 39 16 15
Percent 41.7 32.5 13.3 12.5
Cum % 41.7 74.2 87.5 100.0
ConservativeAnarchistNone of the AboveLiberal
120
100
80
60
40
20
0
100
80
60
40
20
0
Count
Percent
1516
39
50
Which of the following ideologiesdo you most associate yourself with?
Bitcoin Owners
Bitcoin Owners
CONCLUSION: 41.7% of Bitcoin owners responded that they were liberal. 32.5% of Bitcoin owners responded “None of the
Above” which also likely encompasses a large number of Libertarians. Conservatives ranked lowest making up only 12.5% of
respondents.

8. Political Ideologies & Cryptocurrency
8
Count 23 22 6 4
Percent 41.8 40.0 10.9 7.3
Cum % 41.8 81.8 92.7 100.0
AnarchistConservativeNone of the AboveLiberal
60
50
40
30
20
10
0
100
80
60
40
20
0
Count
Percent
4
6
2223
Which of the following ideologiesdo you most associate yourself with?
Litecoin Owners
Litecoin Owners
CONCLUSION: Litecoin responders closely reflected those of Bitcoin owners with Liberals representing 41.7% of
respondents and “None of the Above” reflecting 32.5% of respondents.

9. Political Ideologies & Cryptocurrency
9
CONCLUSION: Dogecoin responders closely reflected those of Bitcoin and Litecoin owners with Liberals representing 42.4% of
respondents and “None of the Above” reflecting 34.8% of respondents. I was slightly surprised to find that Dogecoin owners were
only slightly less conservative than Bitcoin and Litecoin owners.
Count 28 23 8 7
Percent 42.4 34.8 12.1 10.6
Cum % 42.4 77.3 89.4 100.0
AnarchistConservativeNone of the AboveLiberal
70
60
50
40
30
20
10
0
100
80
60
40
20
0
Count
Percent
78
23
28
Which of the following ideologiesdo you most associate yourself with?
Dogecoin Owners
Dogecoin Owners

10. Political Ideologies & Cryptocurrency
10
CONCLUSION: Vertcoin owners largest response was “None of the Above” with 37.5% of the response. Additionally, Vertcoin
owners reflected themselves as slightly less conservative (only 8.3%) and far more likely to be Anarchists (18.8%). Possibly a social
undertone to the idea of ASIC resistance?
Count 18 17 9 4
Percent 37.5 35.4 18.8 8.3
Cum % 37.5 72.9 91.7 100.0
ConservativeAnarchistLiberalNone of the Above
50
40
30
20
10
0
100
80
60
40
20
0
Count
Percent
4
9
1718
Which of the following ideologiesdo you most associate yourself with?
Vertcoin OwnersVertcoin Owners

11. Political Ideologies & Cryptocurrency
11
CONCLUSION: Darkcoin owners largest response was “None of the Above” with 35% of the response, likely with a large influence
from Libertarians. I believe the popular belief that Darkcoin increases anonymity may be a contributor to favor by such ideologues .
Surprisingly only 15% of Darkcoin owners described themselves as Anarchists.
Count 14 13 7 6
Percent 35.0 32.5 17.5 15.0
Cum % 35.0 67.5 85.0 100.0
AnarchistConservativeLiberalNone of the Above
40
30
20
10
0
100
80
60
40
20
0
Count
Percent
6
7
13
14
Which of the following ideologiesdo you most associate yourself with?
Darkcoin Owners
Darkcoin Owners

12. Section 2: Cryptocurrency
Holdings & Awareness
12

13. Cryptocurrency Holdings & Awareness
As most respondents to this
survey are active in the reddit
community it can be safely
assumed that many have had
exposure to bitcoin as well as
alternative cryptocurrencies. !
! Additionally, only three
cryptocurrencies can currently be
purchased using traditional fiat
currencies. These are bitcoin,
litecoin, and dogecoin. It should
be understood that all other
alternative cryptocurrencies
require the use of bitcoin for
purchase.
CONCLUSION: 71.6% of all respondents reported owning bitcoin as well as at least one other alternative cryptocurrency. Only 9.5% or
respondents reported owning bitcoin alone and 18.9% of respondents reported owning only alt-coins. I was surprised to find that only 1 in 10
respondents owned solely bitcoin, though this may be reflective of the fact that many respondents came from subreddits of alternative coins.
13
Count 106 28 14
Percent 71.6 18.9 9.5
Cum % 71.6 90.5 100.0
Bitcoin OnlyAltcoins OnlyBitcoin + Altcoins
160
140
120
100
80
60
40
20
0
100
80
60
40
20
0
Count
Percent
14
28
106
Pareto Chart of Crypto Holdings
All Responses ( n = 148 )
Do respondents own Bitcoin, Altcoins, or Both?
( All Responses = 148 )

14. Cryptocurrency Holdings & Awareness
14
CONCLUSION: The % of respondents indicating that they only own alternative cryptocurrencies (red) displays a slightly upward trend the
longer respondents are familiar with cryptocurrency. Conversely, the percentage of respondents that hold bitcoin only and no alternative
cryptocurrencies (blue) displays a downward trend from roughly 15% (<1 year) to 0% (>4 years) the longer they are aware of cryptocurrency.
** By Awareness, this report means to reflect how long respondents have been aware of cryptocurrency.

15. Section 3: Bitcoins vs. Altcoins
15

16. Bitcoins vs. Altcoins
! I was interested to know
about those individuals that
o w n e d o n l y a l t e r n a t i v e
cryptocurrencies and no bitcoin.
To many, this would seem
counterintuitive as many of the
alternative crypto currencies
require bitcoin to purchase in the
first place without actually
mining them yourself.
! This chart displays the
count of respondents that
reported not owning any bitcoins
but owning altcoins. Please note
the only altcoins included in this
survey specifically were Vertcoin,
Litecoin, Dogecoin, and
Darkcoin. The “Other” category
is representative of over 200 other
altcoins.
CONCLUSION: There was a fairly even distribution of altcoin ownership by non-bitcoin holding respondents. I was somewhat
surprised to find this to be the case as I believed there might be a single altcoin community more prone to purely own their coin and
no bitcoin. There may still be others in the space that were not included int his survey that would prove this true.
16

17. Bitcoins vs. Altcoins
CONCLUSION: On average 86% of all altcoin holders also own bitcoin. This seemed like a fair assumption to have made prior to
seeing this data but it is interesting to know that across all altcoin communities, irregardless of coin or purchase requirement,
roughly the same percentage of owners also choose to own bitcoin simultaneously.
17

18. Section 4: Fun Stuff
Movie & Home Preferences
18

19. Fun Stuff - Movie Preferences
CONCLUSION: It should come as no surprise that the genre of Fantasy and Sci-Fi movies was most favored by
respondents, taking 40% of the vote. It should be noted that romance was an available category as well but received 0%. 19
Count 59 28 27 24 10
Percent 39.9 18.9 18.2 16.2 6.8
Cum % 39.9 58.8 77.0 93.2 100.0
DramaComedyDocumentaryActionFantasy / Science Fiction
160
140
120
100
80
60
40
20
0
100
80
60
40
20
0
Count
Percent
What genre of movie do you prefer?
All Responses ( n = 148 )
What genre of movie to you most prefer?
( All Responses = 148 )

20. Fun Stuff - Movie Preferences
CONCLUSION: It can be stated with relative certainty that if you own Darkcoin, you love the Aliens Trilogy. Dogecoin owners
seem to be the biggest fans of comedy with a higher percentage of comedy fans than other altcoins (21%). Darkcoin needs to get a
sense of humor. Litecoin loves a good documentary and probably is a big VICE fan (28%). And yes, we all love Star Wars.
20
** It should be noted that only 8% of total respondents were female.

21. Fun Stuff - Home Preferences
CONCLUSION: Respondents reflected a fairly even balance across living preferences. The majority of respondents would
prefer to live in a big house in the suburbs (36.5%) or an apartment in the city (35.8%) over cabin in the woods (27.7%). 21
Count 54 53 41
Percent 36.5 35.8 27.7
Cum % 36.5 72.3 100.0
Cabin in the woodsApartment in the cityBig house in the suburbs
160
140
120
100
80
60
40
20
0
100
80
60
40
20
0
Count
Percent
41
5354
Where would you prefer to live?
All Responses ( n = 148 )
Where would you prefer to live?
( All Responses = 148 )

22. Fun Stuff - Home Preferences
CONCLUSION: Living preferences were relatively similar across different cryptocurrency owners with the exception of Vertcoin. In
this regard Vertcoin owners would prefer to live in the suburbs more than 10% more often than other cryptocurrency owners. So
domesticated… I guess the woods would be too much roughing it. Looks like doges are happy laying down just about anywhere.
22

23. Final Conclusions
23
Reviewing this data was fun, and despite the surveys informality I did derive a couple interesting
conclusions as well as reinforce and dispel some preconceived notions. Here they are:!
1. Conservatives are either not strongly represented in the online community or do not appear to be a large
demographic of cryptocurrency owners (only 12.8%). Darkcoin and Vertcoin appear to be slightly more
conservative than other coins.!
2. The longer people know about cryptocurrency, the more likely it seems they will own multiple cryptocurrencies
over time. Bitcoin-only owners drop from 15% for those with less than 1 year of familiarity with cryptocurrencies
down to 0% with over 4 years in a steady downward trend. The longer you know, the more you own.!
3. If you own crypto, bitcoin is most likely in the mix. On average 86% of alternative cryptocurrency holders also
reported owning bitcoin.!
4. We’ve still got a long way to go for both women and romance in bitcoin. Only 8% of respondents were female
and 0% of respondents liked a good romance movie. Maybe I should have included RomCom as a category.!
In closing, I believe there are some indicators that currencies are becoming representative within the
communities they are adopted. There are certainly some variances between coins respective to the variables
reviewed today. Overtime I would anticipate these differences to become more clear and definitive, but as of
June 2014 the space is still too muddied with speculation and irrational volatility to truly define if this will be
the nature of cryptocurrency in the future… though I still suspect this will likely be the case. Only time, and
data, will tell.

24. About the Author
24
!
About the Author:!
Ryan Walker is an entrepreneur, freelance writer, and quality consultant. !
For business inquiries or referrals please contact via Twitter or LinkedIn.!
!
Twitter: @RyanMWalker!
LinkedIn: http://lnkd.in/bgMH5kh!
Blockchain Wallet: 153Cpm4vxGTKyUXyVWLQkx5s8fLwcb24mD!
!