
Reddit CEO Yishan Wong on Giving Stock to Users: “We Have a Crazy Plan.” - malditojavi
http://techcrunch.com/2014/09/30/reddit-fundraising/?ncid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&utm_content=FaceBook
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awwstn
A relevant post arguing for Reddit to implement this on top of the Bitcoin
Blockchain: [https://medium.com/@barisser/an-open-letter-to-reddit-why-
yo...](https://medium.com/@barisser/an-open-letter-to-reddit-why-you-should-
build-on-bitcoin-e52705bc87c5)

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korzun
The plan sounds bizarre. He is basically going to cater to x% of Reddit that's
into Bitcoins, etc.

Makes little sense when Reddit was created for 'all', prior to Bitcoin.

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deeviant
It has nothing to do with bitcoins as the currency is backed by reddit stock,
they are not the standard alt-cryptocoin idea.

They will be 100% premined, with all coins given to a pool which then is
distributed to people who contribute to reddit. So people won't have to build
bitcoin farms or the like(nor would it help them get any redditcoins).

There is absolute nothing prevents somebody who is not into bitcoin from
taking part in redditcoins(or whatever they are going to call them), it is
just a way to:

* Allocate a fraction of reddit stock to be converted into discrete sub-stock-unit chunks

* Allow the distribution of said reddit stock to reddit contributors

* Allow redditors to transfer said stock

* Do all above without any financial transactions.

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korzun
It does not matter if they were pre-mined. The point still stands, this does
not appeal to most of the Reddit users who can care less about digital
currency.

How are you going to cash it out? Is Reddit going to be focusing on all of
this bullshit? Trading? Cashing out? Safe guards? Etc?

Come on. That sounds like a disaster.

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projectdelphai
except reddit wasn't exactly created for the mainstream community either. it
just turned out that way. the reddit admins don't exactly have an incentive to
cater to everyone, I mean help their giving away stock because they want to
not because someone's telling them to or cause it'll profit them (although it
might in the long run with PR and all)

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korzun
If you think they will be giving away stock then I have a bridge to sell you.

I never said anything about 'mainstream', catering to one of the most recent
group of Reddit users (crypto-currency) .vs catering to the original groups
makes no sense to me.

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digikata
So stock is going to be used to back to something in the reddit community, and
related to cryptocurrency.

Karma: no

Reputation: no

Dogecoin: no

Reddit Gold: hmmm not mentioned...

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mullingitover
Interesting, it's like the Green Bay Packers stock sale but in reverse.

