Inside the Movement to Build a Bitcoin-Powered Reddit
Furor over management decisions, an abrupt CEO exit, a rising competitor. The last few months haven't been kind to Reddit, the social networking giant that raised $50m in new funding in September from an A-list cast of VC firms including Andreessen Horowitz and Sequoia Capital alongside angel investors including Snoop Dogg and Peter Thiel. However, if one former employee and bitcoin developer succeeds on his vision, Reddit's biggest challenge could be a decentralized, bitcoin-based alternative. Called DATT (short for Decentralize All the Things), the still-in-development social network....
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The idea of a social media platform with Bitcoin-powered financial incentives has become rather popular ever since former Reddit Cryptocurrency Engineer Ryan X. Charles wrote about how Bitcoin could be used to solve some of Reddit’s core issues earlier this year. Although many believed that this new social media application would be nothing more than a copy of Reddit with a few Bitcoin-centric features added to it, Charles recently told an audience at an SF Bitcoin Meetup that the final product could look quite different from the “Frontpage of the Internet.” Instead of an alternative to....
Since the early days of the internet, there has been a constant movement of people, from mailing boards to Facebook and Reddit. Eternal September keeps chasing out the best who are then followed by the rest with the process now repeating. Although Facebook is one of the biggest companies on earth, few think it is cool – your mom is on it. Meanwhile, Reddit, itself a product of an exodus from Digg, has brought to the forefront a serious problem, private sector censorship of free speech. The duo of Daniel Larimer and Ned Scott, the former a techy, the latter from the world of finance, think....
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Ryan X Charles has been let go from his post as cryptocurrency engineer on social platform Reddit. The developer, who only this week demonstrated his proof of concept forpeer-to-peer bitcoin payments on the site, announced the news in a Reddit post, saying: 'I have complete confidence in the new leadership, but cryptocurrency is no longer in their plans.' He added that he was 'fairly confident cryptocurrency will return to Reddit in the coming years', but that it would "have to wait a while for things to calm down" - a reference to the company's current situation after the sudden departure....