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Bitcoin

Reddit No Longer Accepts Bitcoin (fortune.com) 61

Posted by msmash from the tough-luck dept.
Reddit, one of the most active hubs of Bitcoin enthusiasts, has dropped its support for the cryptocurrency. From a report: The widely read social media site will no longer accept Bitcoin as payment for its Reddit Gold program. A person claiming to be an administrator on the site told users who were grumbling about the shift that the decision was made, in part, due to Coinbase discontinuing its Merchant Tool product. "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 user "emoney04."
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Reddit No Longer Accepts Bitcoin More

Reddit No Longer Accepts Bitcoin

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  • Cryptoscams everywhere! (Score:1)

    by Anonymous Coward

    If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?
    Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?

    If so-called cryptocurrencies are really currency, why no company/store can use Bitcoin as currency anymore?
    Because the price of Bitcoin proved to be extremely unstable to use as a currency?
    Would the result be different, if Bitcoin replaced by any other "crypt

    • If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?

      Are the two things mutually exclusive? Can criminals not be attracted to good innovation too? Is that why criminals always ask to leave the bank robbery with a getaway horse-and-carriage because a car is too innovative and criminals don't like innovation?

      Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?

      There very well might be crypto currencies that are scams. Bitcoin was an idea, not a scam. It all went a bit uncontrollably inflationary for a while, but that was driven by people wanting to get in on the action. Unwise investment but not a scam.

    • If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity? Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?

      Are you saying drugs, prostitution, weapons and human trafficking are scams too? Because they surely attract criminal activity too.

  • End (Score:1, Troll)

    by tsa ( 15680 )

    Near is The end of the Bitcoin.

  • Cryptocurrencies... (Score:5, Insightful)

    by ELCouz ( 1338259 ) on Thursday March 29, 2018 @04:14PM (#56349049)
    Let them all die so we can have top of the line GPUs that are less than 1000 bucks and IN STOCK!

  • Dead Weight (Score:5, Insightful)

    by sdinfoserv ( 1793266 ) on Thursday March 29, 2018 @04:31PM (#56349171)
    BitCoin down (c) $650 today alone to $7200. I would imaging all those people who jumped on when it was $20K got a lesson on stock market trading.
    Too bad for all the millennials who threw what little they had in retirement at this debacle. really, I feel bad for them. remember kids, real estate. Real land, real assets.
    • I know, it's only up 700% from last year. So sad. RIP.
      • Actually, April of 2017 Btc was 3300. Given it's currently 6900, that's a bit more than double - nowhere near your claimed 700%.

        • Actually, April of 2017 Btc was 3300.

          I think you've confused April with August. They do both start with "A". 500-600% is the change from April 2017.

    • Re: (Score:2)

      by dohzer ( 867770 )

      I've done extensive research that shows that no one has ever lost money with cryptocurrencies.
      All my friends and colleagues that have invested tell me that they've made money. I've never met anyone who has lost. Amazing!
      None of them ever tell me they lose when gambling either!

    • Reddit is getting out of Bitcoin after it has dropped about 60+%. Probably close to a bottom in Bitcoin then. They should still accept it so that they're "buying low".

  • and board member and also a major investor in reddit doesn't like anonymity, so I would guess this is coming from him. He is also linked to Cambridge Analytica that provided data to Trump that he used to place one TV ad during the primary. That means he has destroyed our elections.

  • I hope more follow the lead... (Score:1)

    by Anonymous Coward

    I'm boycotting all the cryptocurrencies. There is *nothing* good about them. Who has a vested interest in these things?

    a) Miners, who turn electricity and heat into "money", with no productive work output to show for it
    b) Speculators, who exchange these for real currencies, without investing in any useful productive efforst
    c) Criminal interests, who want to be able to move money without government interference

    Conversely, who do these things hurt?

    a) The environment, from massive amounts of waste energy cons

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