Reddit now accepting Bitcoin...

[SgtSpike]

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?

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

[mccorvic]

Conde Nast also owns Wired, who proclaimed bitcoin's demise in 2011.  

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

[cypherdoc]

Just purchased 12 month membership.

what do you get?

[humanitee]

The ability to say you spent $4.00 on Reddit.

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

[BitcoinRate.com]

I wonder why they choose Coinbase, is cause they are both YC alums? I wonder they did choose bitpay.

But this is good!

I would bet it is because of this indeed.

[xxjs]

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

[Qoheleth]

I wonder why they choose Coinbase, is cause they are both YC alums? I wonder they did choose bitpay

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

[notig]

Conde Nast also owns Wired, who proclaimed bitcoin's demise in 2011.  

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

hahahahaah That would show em.

[World]

one more
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?

[Spaceman_Spiff]

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

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.... .

[Vladimir]

Indeed.

How many people actually know how https works?

How many use it every day?

[Piper67]

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

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.

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

[FreeMoney]

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

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

[xxjs]

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

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.... .

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.

[The-Real-Link]

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.

[ataranlen]

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

[inbox]

.

[Zangelbert Bingledack]

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.

[BitcoinRate.com]

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

[damnek]

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.