Reddit Gets its Own Digital Currency
Reddit is introducing its own cryptocurrency. Known simply as "Reddit Notes," the company hired BitPay developer Ryan Charles back in September of this year to serve as Reddit's new "cryptocurrency engineer" and assist in the currency's integration. While Reddit Notes will not be available to users for some time, the social networking service is holding a special lottery in celebration of the digital currency's birth, saying that it will give away a hefty amount to various loyal site users. The company announced in a blog post last month: "To celebrate all of you and your contributions, we....
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Earlier today, Reddit posted to its blog and announced the "Reddit notes," the name of the long-awaited Reddit cryptocurrency. Reddit recently closed a $50 million USD funding round led by Sam Altman, Marc Andreessen of Andreessen Horowitz, and Alfred Lin of Sequoia Capital. Soon thereafter, Reddit announced their plans to "share" 10% of the equity raised with the loyal users of Reddit, without whom the funds could not have been raised. To help with their new cryptocurrency, Reddit posted a job ad for a "cryptocurrency engineer" and quickly hired BitPay developer Ryan Charles back in....
Social content sharing website Reddit may integrate Bitcoin P2P payments, allowing users to make send money between each other for tipping or making purchases. Reddit was already no stranger to the ins and outs of cryptocurrency. Just last month (December) the site announced plans to develop its own digital currency which would be given away to users as a reward and as a 'celebration' of its users' contribution towards the success of the site. Added to that, there is also the fact that the site's /r/bitcoin board has become one of the most popular destinations for Bitcoin users and....
Reddit is the 9th most visited site in the US and ranks 36th for the entire world. Incorporating Bitcoin into Reddit would expose millions of people to the nascent technology. In the past week, Reddit Crypto Engineer Ryan Charles debuted on the Reddit Blog. The blog announced plans to integrate Reddit with Bitcoin's blockchain technology simultaneously. Recently, Reddit's CEO, Yishan Wong, resigned. Alex Ohanian, Reddit co-founder, returned as executive chairman. With that return, Reddit announced the consideration of creating its own cryptocurrency. Shares would be given to the community,....
Reddit just revealed their plans to create a cryptocurrency as part of a widely-supported move to share 10% of the equity raised with Reddit users. Hours ago, Sam Altman, a well known venture capitalist, announced that he was investing in reddit personally, not through Y Combinator. Also joining Sam in the $50 million USD fund raise for Reddit are Marc Andreesen of Andreesen Horowitz and Alfred Lin of Sequoia Capital. Sam Altman worked alongside Reddit's cofounders, Steve Huffman and Alexis Ohanian, nearly a decade ago when they were in the same Y Combinator's start-up batch. Editor's....
Reddit has announced a new $50m funding round that could lead to a unique way for the social network to give back to its community - its own cryptocurrency. In a post on the company's official blog, CEO Yishan Wong revealed Reddit had secured funding from a number of well-known venture capitalists and VC funds. Notable names included Sam Altman, president of the Y Combinator startup incubator, Andreessen Horowitz partner Marc Andreessen, PayPal co-founder Peter Thiel, actor Jared Leto, hip-hop superstar Snoop Dogg and Wong himself. Perhaps most notably for the digital currency community,....