Reddit CEO Yishan Wong on Giving Stock to Users: “We Have a Crazy Plan.”

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

by malditojavi • 12 years ago

13 8 12 years ago

techcrunch.com

digikata• 12 years ago

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...

awwstn• 12 years ago

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...

korzun3• 12 years ago

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.

deeviant• 12 years ago

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.

korzun3• 12 years ago

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.

mullingitover• 12 years ago

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

Reddit CEO Yishan Wong on Giving Stock to Users: “We Have a Crazy Plan.”

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