"This Is Good For Bitcoin" is a sarcastic catchphrase crypto skeptics and traders use to shrug off any news that should obviously tank Bitcoin's price, from exchange collapses to regulatory crackdowns. The phrase first appeared on r/Bitcoin in March 2012 and became one of the defining in-jokes of crypto Twitter during the 2014 Mt. Gox meltdown.
Origin
The earliest documented use of the phrase online came from Redditor Julian702, who posted it in the r/Bitcoin subreddit on March 30th, 2012[1]. It almost certainly circulated in crypto chatter before then, but no earlier instance has been archived[1].
The sarcastic reading of the phrase was formalized by Redditor cointiki in a July 8th, 2014 r/OutOfTheLoop thread asking where it came from, explaining that Bitcoin advocates kept insisting every piece of bad news was secretly bullish[5]. By then the Mt. Gox exchange had imploded, giving the joke years of material to feed on.
- Platform: Reddit (r/Bitcoin) / Twitter (viral spread)
- Creator: Julian702 (earliest known poster)
- Date: 2012
Overview
"This Is Good For Bitcoin" is a catchphrase slapped onto any piece of news that logically should hurt Bitcoin's price or reputation. The joke flips the straight-faced optimism of early crypto boosters into a punchline: exchange hacks, government bans, scam collapses and even unrelated disasters all get the same deadpan verdict[1].
The format is almost always text-only, a tweet, Reddit title or image caption pointing at obviously bad news. Over time it drifted away from Bitcoin specifically and became a general sarcastic reaction to catastrophe, with the "bitcoin" part treated as the absurd twist[2].
The phrase is especially tied to crypto-skeptic circles like the long-running @buttcoin account, which weaponized it against bagholders during the 2014 Mt. Gox exchange collapse[4]. That sarcastic edge is what distinguishes it from genuine Bitcoin boosterism; the funnier the bad news, the better it is for Bitcoin.
Frequently Asked Questions
What is "This Is Good For Bitcoin"?
It's a sarcastic catchphrase applied to news that should obviously be bad for Bitcoin's price or reputation, mocking crypto boosters who spin every event as bullish[1].
Where did "This Is Good For Bitcoin" come from?
The earliest archived use online was a March 30th, 2012 post by Redditor Julian702 in the r/Bitcoin subreddit[1].
What does "This Is Good For Bitcoin" mean?
It mocks the pattern of Bitcoin advocates treating any news, including hacks, bans or scams, as somehow bullish for the currency[5].
How do you use "This Is Good For Bitcoin"?
Is "This Is Good For Bitcoin" still popular?
It's a classic crypto in-joke, with notable spikes around the 2014 Mt. Gox collapse and the 2016 r/SubredditDrama roundup that hit over 865 points[6].
