Abstract
Social media sites such as Facebook allow people across the globe to converse and
share posts without borders. Users can form groups to interact about a variety
of topics, and cryptocurrency is no exception. The focus of this study was
to determine the demographics and activity of groups focused on both Bitcoin
specifically and cryptocurrencies more broadly, and how they compare to one
another. Results indicated that groups found in search results for “bitcoin” were
typically larger and more active than those for “cryptocurrency”. However,
the major finding of this study was that many of the groups served primarily
to promote dubious money-making opportunities and in some cases outright
scams.