Reddit Loses Strategic Interest In Bitcoin
Recently it was announced by Ryan X. Charles on the Bitcoin subreddit that he had been let go from his position at Reddit. Ryan worked as the resident cryptocurrency expert at Reddit. He was hired directly by former CEO Yishan Wong and until Wong quit the company in November, at which point Charles formally had no boss. The firing is important to Bitcoiners because it represents a blow when one of the largest properties on the Internet expresses a lack of confidence in Bitcoin by firing employees expressly tasked with implementing it. "I wanted to build the infrastructure for reddit's....
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Ryan X. Charles was the official cryptocurrency engineer at Reddit, and readers may remember his abrupt firing earlier in the year. In a new blog post, Charles talks about how the CEO at the time of his hiring was in favor of decentralizing Reddit. The post makes plain the basics of decentralizing a social media platform the size of Reddit although it doesn't delve too deeply into the mechanics. Bitcoin would be essential in terms of incentivizing a lot of people to host the content of a lot of other people. This is the fundamental reason many systems cannot be decentralized without some....
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....
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,....
Perhaps this bit of news (via Reddit) comes as no surprise, but user interest in Bitcoin in China has apparently spiked since the last semi-bubble. Up over 100 percent. That's an incredible climb, and just goes to prove their is immense interest in the cryptocurrency. The question is, when will interest in Bitcoin spill into surrounding countries?
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....