
Announcing Reddit notes - cryptoz
http://www.redditblog.com/2014/12/announcing-reddit-notes.html
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martinml
From the comments on the announcement thread:

 _If you 're wondering why this is all so vague and weird...here it is for
you:

\- Reddit got funding and as part of that wanted to share some ownership with
the community. Basically, they would like Reddit users to own part of Reddit.

\- The thing that made most sense was to create a little database that
distributes these "shares" based on activity.

\- They can't call them shares, or even indicate that they represent partial
ownership of the company because the FCC [sic] considers that the creation of
public stock, which should be on a regulated stock market.

\- There are currently a number of bills at various places in congress that
would de-regulate this a bit, but none that I know of that would make what
Reddit wants to do (and should be able to do) legal.

\- So...boom...their response is to be suuuuper vague. Which I'm fine with,
since they're dealing with a very large and terrifying bureaucratic
institution._

[http://www.reddit.com/r/blog/comments/2pt25f/announcing_redd...](http://www.reddit.com/r/blog/comments/2pt25f/announcing_reddit_notes/cmzs3pm)

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MildlySerious
You are lucky if you get one because there are less than there are accounts,
and what you can do with it when you get one is to tip it to someone else.

I don't see this working myself, but I have faith in them to make it work.

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minimaxir
"Reddit Notes" does not immediately imply that it's a cryptocurrecy. I thought
it was a Read It Later service from the name.

~~~
felixvolny
Well it's missing the crypto part of cryptocurrency, but I agree it's pretty
obvious that they are planning for this to be some sort of site-wide currency.
My guess is they saw Dogecoin and the tipping culture it created, and they now
want to own that aspect of the Reddit community.

~~~
minimaxir
It's worth noting that the engineer in charge of the project is _very_ into
cryptocurrency: [http://ryanxcharles.com/archive/hold-more-bitcoins-than-
you-...](http://ryanxcharles.com/archive/hold-more-bitcoins-than-you-can-
afford-to-lose/)

