Reddit CTO Hints at Crypto Payments Returning to the Platform

Todd Singleton
May 5, 2018

In 2013 the platform began accepting Bitcoin payments for purchasing Reddit Gold membership, the premium ad-free version of the site. He also stated that the social media website is looking to add more crypto options.

Reddit's CTO said that the platform hosts discussion threads for every cryptocurrency and has been a hub for Bitcoin enthusiasts for about eight years. The platform had ended support for Bitcoin payments in March 2018.

Easier and more efficient means of processing payments is a big step in the right direction for not only Coinbase but the crypto space as a whole.

Some time ago, the famous social network platform Reddit, made a decision to no longer accept bitcoin payments for purchasing Reddit Gold. As a matter of fact, that was part of the issue with the high fees on the bitcoin network.

Dust storm kills at least 91, injures over 160 in India
Forty-three people died there as the wind speed touched 130kms/h, said Relief Commissioner Sanjay Kumar of Uttar Pradesh state. Satellite images have confirmed these fears, showing growing wind pressure in Rajasthan which could lead to another dust storm.

Jacob deGrom exits Mets start with hyperextended right elbow
Asdrubal Cabrera's walk in the third and Flores' double in the ninth were the only two baserunners NY had after the second inning. This is the 35-year-old's first start against the Braves since October 3, 2005 when he was a rookie with the Marlins.

Predators even series after Fiala's game winning goal
When you play inconsistently against a team of Winnipeg's magnitude, you find yourself in a lot of trouble. Perreault was not wearing the yellow non-contact jersey he had been wearing for the last week.

Reddit made a somewhat controversial decision when they removed the option to pay for Reddit Gold with Bitcoin. He even went as far as recalling the day when one of his colleagues walked into the office after having discovered the r/bitcoin subreddit and inquired about the nature of the cryptocurrency and whether or not it's worth the nine cents price tag.

"The upcoming Coinbase change, combined with some bugs around the Bitcoin payment option that were affecting purchases for certain users, led us to remove Bitcoin as a payment option", said Reddit administrator emoney04 at the time. Additionally, the firm aims to introduce support for other cryptocurrencies, including Ethereum and Litecoin.

Coinbase had changed the requirements that merchants should meet with a view to continue accepting Bitcoin payments, as a result merchants needed to conduct a serious upgrade to access Coinbase's API. For now, we'll have to wait and see when Reddit will introduce cryptocurrency payments once again.

Reddit: During an interview with Cheddar on Wednesday 2nd May, the Chief Technical Officer (CTO) for Reddit, Christopher Slowe, said that the "high fee" associated with Bitcoin was the reason why the Reddit platform stopped accepting Bitcoin payments, however, he hinted that Bitcoin may soon return as payment option on the platform.

Other reports by Free-Prsite

Discuss This Article

FOLLOW OUR NEWSPAPER