Bitcoin Forum

Reddit is trying to play games!
What on Earth is stopping them from accepting bitcoin?
Heck, they have added PayPal for God sake, and why not bitcoin???
Come on guys, tell me what is going on between bitcoiners vs Reddit (Perhaps, there's a bad-blood in the past).

https://i.imgur.com/4ixEaXn.png

No idea about past or the current "issues" circulating around but here are some references.

https://www.finder.com/reddit-ends-bitcoin-membership-payments

https://www.reddit.com/r/btc/comments/86lose/did_reddit_remove_bitcoin_as_a_payment_option_for/

It seems it's a long time ago that they didn't accept bitcoin as payment and I think the reason why they don't accept bitcoin due to high transaction fees because last year we experience to pay a large transaction fee because of blockchain network congestion.

I tried to search on google about "Reddit premium bitcoin" but I only get this one result below.
https://www.reddit.com/r/CryptoCurrency/comments/9ryjnp/bitcoin_not_accepted_for_reddit_premium_paypal/

Maybe they will accept bitcoin as payment again once if there are many Reddit users request to accept bitcoin. Since the transaction fees are now cheap, they have the possibility of granting their request.

they seem to be under new owenership of the website, who is now banning popular sub redits, and also just making the website as cerntalized as possible. i dont even use reddit anymore now its becoming garbage

A lot of companies are not allowed to accept bitcoins as a payment option, because Bitcoin is not defined as a currency in their country. I think it is difficult for their accountants to explain this to their auditors, when they get audited for taxes.  ::)

PayPal might also have signed some deal with Reddit and this could have influenced their decision to stop accepting bitcoins. We do not know what bribes are being paid, to influence decisions like this.  >:(

I know they used the "high fees" excuse, when Bitcoin struggled with scaling, but the new Lightning Network changed this, so they do not have an excuse anymore.  ::)

It's mostly due to low usage most likely. It would be a waste of resources for them to maintain and to make sure something works fine if little to no people uses it, hence they removed it.

Because PayPal is actually widely used by a lot of people worldwide? I don't get why you're comparing PayPal with bitcoin.

no, people were actually using it a lot prior to its removal. the reason (like a couple of other cases of removing bitcoin payment) was because of the extremely high fees that lasted for months during 2017's severe spam attack against the network. at the time people weren't willing to pay something like $50 to $100 fee for a $5-$6 purchase!

they won't bring it back just because fees are now lower when they know there is a chance they go up again. and if they do they have to remove it again!

That definitely could be the case, but I think the number of people using btc for Reddit might just not be enough for them. Because if it was mainly due to the high fees(which I think is indeed definitely very possible), I think they probably would've continued accepting bitcoin months ago when the fees dropped.

That's not a good excuse, since they can use a payment processor that actually gives them fiat currency. Most online merchants do that.
So unless they have a deal with PayPal or such, giving up Bitcoin is a pretty silly decision from their part.

If they don't like the high transaction fees then they should accept litecoin and ethereum. It's not just a platform for ico tokens, it can be used as a currency as well

wrong, ETH is a token for smart contracts and it is not designed to be used as a currency for payment. not to mention that the scaling issues of ETH are worse than bitcoin and the fees shoot up even higher! the worst part is that a simple smart contract like the cryptokitties game crap can easily cripple the ethereum network. so anyone with half a brain who removes bitcoin because of high fees is never going to replace it with ETH.
LTC is also suffering from the same problem but it is not palpable because it is not used that much but that also means adding it as payment method will only add an additional useless method that nobody uses.

Almost no one now trusts bitcoin now. It will take some time, when Bitcoin will be on top again, then everyone will start using Bitcoin too.

I really doubt this. I'm pretty sure a good number of people in the cryptography/computer industry still sees potential with bitcoin. Not because it's not ready for global adoption now, it doesn't mean it wont be ready forever. Bitcoin is still being improved and will continue to be so as long as it's up and running. LN is just right around the corner.

I think they still not approve using bitcoin to buy premium or I think it is still in process where they will approve bitcoin in mode of payment. I think in the future they will consider bitcoin as money so they will add in their mode of payment.

Almost no one? well at least I trust bitcoin and most of the people here that are discussing about bitcoin trusts it. I don't believe with what you are saying that no one now trusts it.

A lot of reddit/subs related to crypto's and bitcoin that number gives you an idea on how many trusts bitcoin/cryptocurrency. I'm not sure why they include didn't it to their option but isn't the co-founder is also a crypto enthusiast who predicted bitcoin and eth at good price last year?