Bitcoin Forum

On it goes...

http://techcrunch.com/2013/02/14/reddit-starts-accepting-bitcoin-for-reddit-gold-purchases-thanks-to-partnership-with-coinbase/ (http://techcrunch.com/2013/02/14/reddit-starts-accepting-bitcoin-for-reddit-gold-purchases-thanks-to-partnership-with-coinbase/)

http://blog.reddit.com/2013/02/new-gold-payment-options-bitcoin-and.html (http://blog.reddit.com/2013/02/new-gold-payment-options-bitcoin-and.html)

WOW!

We're breaking the 2011 high today, mark my words...

Just got mine...

I don't actually need a gold membership, but...  Done!

Just invested in 36 months of reddit gold

A new all time high for BTCUSD is imminent.

We just touched €20 on MtGox :D

Now we know who has been buying all the coins lately  :D

They waited too long. Now I don't want to part with my coin. lol

 :D

Great news

Very Nice, great to be part of this ...seeying all the growth and developments lately .. ;)

I went there - and there's already a post about Bitcoin  :D

http://www.reddit.com/r/lounge/comments/18jcf3/so_i_hear_entry_can_be_funded_with_gold_bitcoins/

More and more sites will adopt BTC.

Just purchased 12 month membership.

Just purchased the value of a Reddit 12 month susbscription in Bitcoins.
Let's see who got the best bang for the buck one year from now? ;)

I should've speculated here: buy bitcoins - wait for the value of reddit gold to go down (in terms of BTC)  :D

I'm don't visit reddit so I have a few Q: Is reddit gold something that a lot of people buy/use/want? Or is it a real small portion of reddit users in the first place?

I won't give them btc, but I might send them a postcard

It's hard to say. It's given out as gifts a lot for insightful/quality posts and I know people buy it frequently. Percentage wise, I have no clue.

People can buy premium memberships with reddit gold, or donate reddit gold to other members (which I see happen frequently).  A premium membership does carry some nice perks to solve annoyances that one might come across if they are at least a moderate user of the site:  http://www.reddit.com/gold/about

This is beautiful.  The only thing better would be if Wired started taking BTC for subscriptions.

what do you get?

The ability to say you spent $4.00 on Reddit.

http://www.reddit.com/gold/about

I would bet it is because of this indeed.

Reddit has 43 million users.
Say 1 % understand cryptography, that is 430 000 users
Say 1 % understand money systems, that is 4300 users
Say 1 % have the means, that is 43 users
Say 1 % have the guts, that is 0.43 user.

Shit lets round that to 100 new bitcoin users.

Not bad for a single day

4chan also went with Coinbase for its captcha pass, for whatever that's worth.

hahahahaah That would show em.

one more
http://www.theverge.com/2013/2/14/3989828/reddit-now-accepting-bitcoin-as-a-payment-option (http://www.theverge.com/2013/2/14/3989828/reddit-now-accepting-bitcoin-as-a-payment-option)
I wonder who will be next ,maybe Wikimedia Foundation?

You are making a lot of assumptions.  The fact of the matter is that as bitcoin gains traction, fewer people will feel the need to know the underlying processes of how it works in order to trust the fact that it works.  Instead, they will just be relying on the fact that many people already use it, and trust that these people have already looked into it.  Herd-like behavior might be dumb at times, but at other times it is greatly time-efficient.

EDIT: just as some proof: you say only 1% understand money systems, but I am sure 99.9% use money.... .

Indeed.

How many people actually know how https works?

How many use it every day?

How many people who use Google understand the workings behind HTML?

Echoing others, almost no one knows anything but they use all kinds of crazy shit. Satellite TV? Computers?

Yes, just pulling numbers out of my ass. The idea of understanding money systems, is that if a reddit user does not understand that, he might ignore bitcoin and just go for fiat.

Just jumped in here and noticed the above comment.  I'd agree that while those #s sound pretty neat (who wouldn't want even a fraction of that to be right), the masses might jump onboard once BTC is even easier and more places begin to accept it.

Almost all of us drive cars but how many of us could tell you with remote detail as to how all the parts work?  Probably a few of us here. 

Practically everyone uses computers but how many in the 50+ crowd could tell you how they work?  Not many I'd imagine. 

Just pointing out that it's a good point and big difference between people *needing* to understand to operate in BTC-Land safey VS wanting to learn.

I've been waiting for a place to put my bitcoins ;) 1 Year, all bought and paid for.

.

The story is currently on the front page of reddit, with around 1,700 upvotes. That translates into metric fuckton of views. The number of Bitcoin subreddit subscribers also just spiked.

Why didn't the price raise more than it did? there was a small jump to 27.50 after the announcement but now we're back at 27

I think people were already anticipating on Reddit getting on board with bitcoin. Even the CEO suggested it several times already.

Because the price raised in the last couple weeks as a side-effect of the mass buying of bitcoins from Reddit and Coinbase CEO's and now they're selling instead of buying?

Isn't this shit what they call "insider trading"? ;)

Buy on rumors, sell on news?

Related article: Could reddit be the worlds most influential website?

http://www.blueglass.com/blog/could-reddit-be-the-worlds-most-influential-website/

Reddit may just be the most influential. "The currency of the internet for the front page of the internet." This is way bigger than the Wordpress announcement.

I have long had a vision that one day, far from the derision it now receives, Bitcoin will come to be embraced as the internet's own currency. When governments start to want to ban it, reddit's reaction will be like with SOPA and PIPA.

Once men taste freedom, they take ownership of it as their own God-given right. It will be the same with monetary freedom.

I think your foresight is absolutely correct. The market always finds a way. Seen this PBS Idea Channel on Bitcoin (http://www.youtube.com/watch?v=E_9R45RLNR0)?

I totally agree. At a later stage it will not be necessary to understand. They see other users, and they see that it works, then mass adoption.

In this example they trade bitcoins and not shares in their own company. I think it is completely legal.

Transparency and publicity of the blockchain makes honest banking a feasible concept in this arena.

And because the announcement was on a Thursday, plus a day or so until people figure out how to get fiat into the exchanges, plus the weekend... we won't see an effect until Tuesday of next week at the very earliest.

The recent rise could be people who already are sitting on fiat in the exchanges trying to get a jump on the rest of the crowd, but there are at least three or four other theories to explain it as well, and no reason to favour one over the other.

Maybe reddit employees / individuals in the know before the official decision, stocking up beforehand?

Dont need/want a reddit gold account, but I've purchased to support.. think this will makes me love reddit a bit more..
maybe I'll love this and renew next year :)

And, since this is quite revolutionary, people might need a few weeks to think about it before they jump in.

http://www.reddit.com/r/ShitRedditSays/comments/18ks2p/meta_im_just_surprised_they_didnt_do_it_sooner/

Its the comments like this that will drive people capable of thinking critically to investigate bitcoin. You really don't even need to argue against people who make claims like that. That type of thing used to be common on slashdot and is what got me interested, I'm sure others as well.

The inherent legitimacy of Ben Bernanke lol

Say that again to me when his greenback loses half of its value.

so does Reddit Gold offer an option to receive email alerts when someone responds to one of your comments?

http://www.reddit.com/gold/about

now gimme a quarta

I think the reddit news is bigger than most people think. The reason why is that it isn't just a new way to use bitcoins...  they have a bitcoin bot tip system that people are going to use and every time they do it's going to be an "in your face" advertisement of bitcoin. It will bring many people

does the bot tip extend across all subreddits other than Bitcoin?

Unlike Wordpress and Mega, reddit is a community. A huge and highly influential, trendsetting one. If the general tide of opinion on reddit somehow shifts in favor of Bitcoin, I'd quadruple the odds that Bitcoin will reach mainstream adoption.