Reddit now accepting Bitcoin...

[Raoul Duke]

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

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"?

[waspoza]

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

Buy on rumors, sell on news?

[RodeoX]

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

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

[Zangelbert Bingledack]

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.

[sunnankar]

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?

[xxjs]

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 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.

[xxjs]

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

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"?

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

[Crypt_Current]

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 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.

But if they don't understand how bitcoin works then they can't be safe, and then we are back to the banking model cause people will want to have other people deal with that for them. Hence just coming full circle back to the mess we are in now.

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

[Piper67]

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

If this does introduce new users to Bitcoin, there is going to be a delay from the point when they decide they want to get involved to the point when they actually get involved. Let's call it "the fiat exchange delay".

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.

[Crypt_Current]

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?

[DoomDumas]

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

[xxjs]

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

If this does introduce new users to Bitcoin, there is going to be a delay from the point when they decide they want to get involved to the point when they actually get involved. Let's call it "the fiat exchange delay".

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.

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

[bb113]

It's a fantasy currency for libertarians who don't believe in the inherent legitimacy of monetary policy

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.

[humanitee]

It's a fantasy currency for libertarians who don't believe in the inherent legitimacy of monetary policy

The inherent legitimacy of Ben Bernanke lol

[oakpacific]

It's a fantasy currency for libertarians who don't believe in the inherent legitimacy of monetary policy

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.

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

[cypherdoc]

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

[Crypt_Current]

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

[notig]

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

[cypherdoc]

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?

[Zangelbert Bingledack]

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.