Bitcoin Forum

Reddit is often billed as the front page of the internet, and if you have ever visited it then you’ll know that it’s true as millions browse it daily. Now the good news for Reddit users is that they’re planning to launch a new point based system involving Ethereum, which means that millions of Reddit users will suddenly adopt Ethereum coin and due to the sudden adoption it’s prices will soar to the moon.

What do you’ll think about this move by Reddit, do you’ll too believe that it’s the perfect time to buy and hodl Ethereum? or you’ll feel one should wait for some more time and then buy it?.

Sources:

https://www.digitaltrends.com/web/what-is-reddit/

https://www.coindesk.com/reddit-may-use-ethereum-for-a-new-token-based-points-system

Buying Ethereum is always a good think especially from long term support areas or dips, long term holders and accumulators do know its value, while i am not sure about the reddit system what i know is that reddit is also looking to launch their coin or token and may be it would be erc 20 token so i do not know what kind of impact it will have on Ethereum, to be honest i think Ethereum itself has strong enough fundamentals that it will fly off its own soon.

Even if 30-50% of reddit users will likely to adapt ethereum, it's impact still very big knowing that there are millions of users in reddit. If the Eth price will skyrocket in the following days or months then it will be the result.

Anytime is a good chance to buy Eth as it has potential but right now that we are facing a pandemic, I am not so sure if right now will be the right time to buy. For those who have extra money then right now is the best time to buy eth and hold for a long term but for those who are facing difficulty in surviving the lockdowns then maybe after the pandemic is the right time to buy if we can recover easily.

This is a great news indeed but I am not sure if a single famous project like reddit can pulled hard eth price right now. I am not saying this will not be of help the numbe 1 altcoin but seeing the world economic falling due to crisis still we cant easily fly high with these good news that we are receiving.

If youre asking if the right time to buy now is actually yes. The price is fair value now and we can see it more increase in the following month as eth goes nearly their POS migration.

Reddit is one of the best platform =s to reach out to so many crypto enthusiasts. So, having Reddit play a part in this is an opportunity to get Ethereum up its feet again.
For a long time now, I have always known that in whatever form or way, Ethereum has a way of gaining its relevance and making more investors come for it.
There is virtually no investor in this save that does not have an account on Reddit and if there is any that does not have, they are the minority. Somehow, they will get to know about what is happening.
I do not frequent more on Reddit, but here comes the news, which will make me go back and search through my Reddit account. this is what I feel will happen to many and more awareness will be created.

Reddit is one of a best project in crypto forum, there were news that the major thing which need to be said about using Reddit as a way to promote an ecommerce stores and to encourage sales.

There are many different and unique benefits of using Reddit which is like using a transport for a business, if eth join hands with Reddit I am sure it will rock again..

I am definitely long on Eth and there is no secret about it, every serious person in crypto space is holding and even gathering more and more eth whenever they can or have extra cash available, now ithink it is just a matter of time and soon eth 2.0 is coming out after which i think eth value will skyrocket. Reddit is great platform and it would be awesome if it supports eth network in any way positive.

Reddit will increase ETH "traffic" for sure, BUT the news is only mere speculation at this point (skeptic is my middle name, lol).
Moreover, it will be worthless if ETH cannot scale. I think ETH 2.0 progress will be far more critical for its future (and price).

I don't think that just because Reddit is planning to create a token based on the Ethereum platform, it will drive the price of Ethereum tremendously. Maybe we can see a short term uptrend but I don't think it's going to have a major effect on the long term Ethereum prices. Currently, the Ethereum's value transfer is dominated by the Stable coins and with the introduction of Reddit token, the value transfer of ETH is going to suffer a bit more. But Ethereum, by itself, is a good investment and its always good to invest and HODL.

I did not get it how Reddit gonna use that new token based thing. Are they going to replace silver/gold coins with tokens to mark post or comment as "good" or "cool" ? I think that giving reward for post/comment, that might cost more that 1 cent or have a financial value will destroy the platform. It will turn reddit into steemit. Who needs another steemit, that is filled with bots and "wales", raise your hand.

Tha's right, many people are also using Reddit to get daily update news, information, and issues about many things around the world. Moreover for the crypto world, Reddit becomes one of the platforms that is most used. We cannot ignore how Reddit can give infleunce to many sectors.

Very good news, however, we are probably still waiting for what kind of system they will plan. The system and technique will infleunce how the users of Reddit should or must use ETH or otehr relation to Ethereum coin. Is it only for addoption, utility, or other uses?
Sometimes, whatever that is very booming and hype will not run well such as Libra at that time. There must be other bad issues that will spread and make the project or even plan changing.
However, hopefully, this will not happen right now for Reddit.

ETH is actually a very recommended coin to trade or invest every time. With many more good news and issues about it will be able to increase the price significantly.

I think it is a very positive move for etherum when reddit made the announcement about adopting etherum tokens.
And ofcourse, it lead to more demand for etherum which shoot up the price and value.

Many more of this, and etherum could be ready to be bullish when the bitcoin halving is here

Oh come on, haven't we learned our lesson already? These "adoption measures" don't change the price that fast. It's a matter of long-term actions for the price to have a considerable long-term change. Reddit using ETH won't "drive it to the moon"..

I've been fooled by these kind of news countless times until I learned my lesson. If the price pumps because of a website starting to use/accept the coin, it's gonna be short term. 100%.

I came across such news last coople days & i think it's gonna be huge push for Etherum.
This ReddIt move will differently make Etherum more famous & mass adopted.
ReddIt is huge & well know & making Etherum as the key for it's next Cryptocurrency project is something not to be ignored.

I think the key problem affecting Ethereum presently is the lack of max supply, Ethereum has infinite supply and no matter how many people adopts the token it won't mean much, days ago vitalik said they plan to implement deflation, this can't be possible without max supply, I'm suspecting a big surprise is coming

Really interesting news and being a mature network especially related to crypto and blockchain i am sure reddit will have a great positive impact on the price of Eth as it will help in boosting the fundamentals and also create a demand for eth where the reddit community will be able to buy reddit points or coins for eth so they can use different services offered by reddit paltform.

When people get rewarded with Ethereum for making posts on reddit, they get to sell/dump their rewards for fiat. How does this foster adoption for Ethereum or cryptocurrency in general?
 

I doubt it would really change ethereum at all, if you really use reddit and know what they are doing, this has absolutely nothing to do with ethereum at all aside from the fact that it is using ethereum blockchain but that's it. This would basically be a new way reddit could make a profit and with this method they could actually make people earn some money while contributing as well, kind of like steemit website where you write and make money.

Aside from that, there is nothing that would change in ethereum, reddit will continue to make a profit, people would actually be able to like each others work with points that worths something instead of just simple clicks that are worthless. I would say it may cause some shit posting but if they want to there is no way to stop them.

I think Ethereum 2.0 and change of its algorithm to POS is bigger thing than reddit coming up with an ethereum based token, there are thousands of eth based tokens already available, so i am fundamentally bullish about eth and not due to a specific project.

Well, another question you should be asking yourself is - what is the purpose for those that will be adopting the Ethereum coin? What if they all install wallets that would let them receive Ethereum just so that they can receive and sell it immediately to fiat and nothing more? When they are receiving and selling, then that's not going to be making any impact.

The only time that it's going to help is when the community brings more investors to Ethereum and lots of people from Reddit starts investing their money in Ethereum and storing it, and not just receiving and selling them immediately to fiat. Anyway, I can't tell what would happen then from now. We can only just wait till then and see for ourselves.

Reddit over the past few years has had a huge impact on ETH and I think this is normal because so many large communities appear here. I think 20% of people who are computer savvy will tend to visit this site because this is the best way for them to know what is happening in the world. Of course, most of the coins available in this market use Reddit to attract investors.

Honestly not all countries can use reddit as legitimate platform. This is happened in my country that still ban this platform, I don't know the reason of government who do that since reddit is good platform that I know beside medium.

Also, this news will be a good movement for reddit either for ethereum. Since the user of reddit is already much ans they can use this coin for any purpose. It will make the ethereum price will soar again, moreover with halving event that will happen to bitcoin it will be the other reason to make the ethereum price going up.

Most likely here according to the notoriety of Reddit stage I'm certain to such an extent that ethereum will turn out to be very much perceived than previously, things may seem sluggish now because of the pandemic but once this Pandemic is over crypto space will flourish

So that is good news for the ethereum coin because the probability to rise it is very high. Thank to reddit if they do that.
For the investors now better to buy more ethereum because there is a lot of good news will come to thid coin that can push to this to up the value and this is the perfect time to have ethereum .

ETH is always the leading altcoin in this market, and we will always get a profit by investing in it in the long term. Also I hope this news will help ETH to go up in the near future, the current price of ETH is still very cheap and we should buy and hold.

I support that, reddit is huge this could be one of the time that they can help the cause of one project and they are helping a project that deserves a big boost because Ethereum has proven it's worth in the industry, since day one, it changes the landscape of the industry, and they are the second most popular coin in the business.

Even without reddit announcement eth is already one of ghe major altcoins that proven its usefulness. How many platform out there are using their network? Obviously if we count all still they have the largest group of projects up to date. Which smart contract platform start it all and imitated by other network such as tron and eos? They both came from eth network before having their own, so we can still rely on eth capability to grow. I think reddit adoption of eth's platform is just another small talks, which we should rather focus on a bigger picture such as defi that totally makes eth grow.

That's really a good new to all ethereum holder.ETH will remain valuable altcoin in crypto industry no matter what. It is good to hold eth for a long term to gain high profit . Eth is very useful and i always use it in every transaction i made online.

Not sure if it's the perfect time, but I'll say this: ETH is probably one of the safest altcoins investments in the cryptosphere, especially for the long-term.

About this news, adoption is always good, especially in the altcoin ecosystem, but if we want to talk about an event that's actually bullish and could potentially become the trigger for some massive upward movement in the long run, it has to be the launch of Ethereum 2.0. I'm not trying to downplay this reddit thing, but as of now, there's nothing set in stone, just speculation.

I frankly don't think ETH price will jump because of that. For crying out loud, the ETH chain is a smart contract and one would expect that such an opportunity of its use would drive price higher than it is. Yet, it's still where it is and far below many other coins. On the flip side, we get fancy and positive news on Ripple of how many financial institutions are adopting it but has that impacted the price of XRP? Nope, of course.

Ethereum is one of best altcoin in crypto world we have no doubt and this news even right now just speculation but going to help good rise in price so we can say if someone want to invest in long run then surely its good time for him to do this and have good profit as bitcoin halving is also on so these all things can give very good impact on its price.

Is there a topic on reddit where this news are discussed? Or maybe a proper subreddit? Interesting to read what "locals" think about this. Are they excited or think this will be useless, spoil reddit. Because projects often lose popularity and its unique "thing" when money gets involved.

I think this is a very good move for reddit platform, because in a crypto space, there are high competitions amongst other social media page, and i have to say that reddit is getting left behind.

Etherum rightly increased in price due to the news, because i assume Reddit got a handful of it to kickstart their eth reward on the platform. But instead of thanking Reddit for etherum, i think reddit should thank etherum, because now we will begin to see influx of users and investors on the reddit platform unlike before.

I’m posting here to let you’ll that Reddit has finally come out with it’s crypto tokens that I was talking about in the op, and  even though it’s in beta testing I would yet suggest you’ll to immediately join these two sub Reddit’s i.e. cryptocurrency, and fortnitebr because only these two sub Reddit’s users will be receiving the token for now. Also It’s pertinent to note that you’ll need to create a account on Vault to use these tokens and Reddit has prepared a guide for it, which you’ll can find in the article link posted below.


Subreddit links:

https://www.reddit.com/r/CryptoCurrency/
https://www.reddit.com/r/FortNiteBR

Source:

https://www.theblockcrypto.com/linked/65178/reddit-launches-ethereum-based-tokens-for-cryptocurrency-and-fortnite-subreddits

it’s actually difficult to imagine how much the price of ethereum will increase in the cryptocurrency market thanks to this news, but nevertheless, expanding the number of ETH users will play a very good role in developing and spreading the possibilities of using ethereum by a large number of people.  One way or another, for ethereum and for the owners of ETH coin, this is very good news, After all, any popular coin on erc20 , and especially the coin of the Rabbit resource popular all over the world, popularizes the platform and the Ethereum.

Reddit is a good platform, but I don't saw how its adoption will spike ethereum price why I say this is that the are platforms that also have that kind arrangement already with their own coin but it never spike the coin.

Both are big news, reddit has a lot of users too and this will help the adoption for ethereum coin. AFAIK if that will also push the price of ethereum too.

This is a big news for all caused by crypto has already started to be implemented in our real life.

I don't know about letting an average joe on Reddit hold ETH would be a good idea. True they are the front page of the internet but that only talks about quantity when to me, personally I always consider quality first and foremost in the crypto space.