Reddit Considering Bitcoin for Subscription Model Says CEO Wong
Kyt Dotson
2012-11-12
http://siliconangle.com/blog/2012/11/12/reddit-considering-bitcoin-for-subscription-model-says-ceo-wong/...
Reddit CEO Yishan Wong himself appeared in a thread on Reddit speaking to the likelihood that the site might start accepting the cryptocurrency:
"Yeah, I’ve been a longtime subscriber to /r/bitcoin and had done a lot of investigation into BTC quite a bit about a year ago before I took the reddit job (on my own, as a subject of interest).
So – no promises, but we’re looking into it."
Right now, Bitcoin has been around long enough that as a technology it’s becoming quite mature. As a business model, however, it’s still foundering even with individuals bringing its use to various national outfits and forwarding it into different markets. Inside the community, Bitcoin works fairly well (aside from its prominent failures); but outside the community its barely known and largely regarded as a fringe fad.
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Having Reddit take up that mantle will give not just further legitimacy to the using the cryptocurrency, but it will provide added stability to the largely speculative market that the currency exists in. The best way to stabilize the market will be to have numerous vendors begin accepting bitcoins for exchange, but one at a time will not hurt.
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