Reddit’s CEO, and original founder, Steve Huffman stopped by Coinbase’s San Francisco offices today. This has left Bitcoiners discussing in depth what, if anything, is afoot.
Reddit, the entertainment, social networking service and news website boasts 542 million monthly visitors. Popular subreddits include news, gaming, movies, music, books, fitness, foot and photo sharing.
Throughout 2015, Reddit had 82.54 page views, 73.15 million submissions, 725.85 million comments, and 6.89 billion upvotes from its users.
Reddit experimented with Bitcoin in 2013, accepting it for Reddit gold, a currency on the social media. ultimately determining the digital currency had yet to fully mature.
“We’ve gotten some requests for additional payment methods so hopefully this brings us closer to reaching everyone who wants to buy gold,” Reddit’s Brian Simpson said about their reason for the deal.
Coinbase, a foundational Bitcoin company, is a leading Bitcoin exchange, and provider of a Bitcoin debit card service.
Coinbase CEO Brian Armstrong said: “We’re pairing with Reddit to allow them to start accepting bitcoin payments for Reddit Gold. This is a large step forward for Bitcoin and for Coinbase, as Reddit is a top 100 site in the U.S. and the top 200 site internationally.
Reddit CEO Yishan Wong stopped by our offices about a month back because he wanted to learn more about how bitcoin worked and how they could start accepting it as a payment method. We had a number of other merchants start using our merchant tools recently, including 4Chan (they have a “pass” which is similar to Reddit Gold), web hosting companies, productivity app, and plenty of sites accepting donations. So this gave him the confidence that we were ready to handle traffic for a site the size of Reddit.
That the tweet came from a Coinbase employee who works in Compliance likely means that the Reddit CEO simply dropped by for a chat. (Perhaps to get caught up on the halving, and the block size debate)
But, you never know when the world’s leading technologists are putting their mind’s together. Who knows, maybe Reddit has considered putting its social platform on its own blockchain?
Featured image from Wikimedia.
Last modified: May 21, 2020 10:20 AM UTC