Author Topic: Reddit showing interest in launching a cryptocurrency...  (Read 7008 times)

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Offline roadscape

They don't know what they want yet, it sounds like.

http://altcoinpress.com/2014/10/why-reddit-may-not-issue-coin-on-top-of-bitcoin-and-why-its-not-bad-news/

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One of the main reasons for issuing a colored coin over a centrally-controlled asset is decentralization. Having said that, decentralization does not really matter when it comes to tokens backed by centrally-controlled assets. There is not much of a need (or possibility) for censorship-resistance when issuing shares in a legal, regulated company.

US Government Won’t Allow Decentralized Reddit Coin
The real problem associated with issuing a colored coin backed by a real world asset on top of Bitcoin is that the US Government won’t let it fly.
http://cryptofresh.com  |  witness: roadscape


38PTSWarrior

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Could we pay Reddit for using our product? For example free transactions for half a year or so. The idea likely sucks but I thought about doing this to get companies to use bitUSD.

Maybe we can buy them advertisements in return.

Offline donkeypong

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The guy Reddit hired for this project just tweeted that he'd rather not create a NEW altcoin, but build on something (he said build on Bitcoin).

https://twitter.com/ryanxcharles/status/517783038411800576

Offline oldman

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The writer didn't even mention BitShares, so we didn't get tarred with the "scheme" brush he applied to Ethereum, Counterparty, and Mastercoin. I guess he hasn't bothered looking at the market values in about two months.

I've noticed this in several recent articles. How is it that BitShares is ignored so frequently? Usually when Counterparty and NXT are mentioned.

Maybe they don't take the time to understand it? Their loss if they don't get it. Anyway, we'll soon have several of the Top 10 coins and BTSX will be in Litecoin territory, so it will be hard to ignore in another couple of months.

This just shows that the other platforms have done more marketing to date.

The tide will turn in due course.

Offline donkeypong

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The writer didn't even mention BitShares, so we didn't get tarred with the "scheme" brush he applied to Ethereum, Counterparty, and Mastercoin. I guess he hasn't bothered looking at the market values in about two months.

I've noticed this in several recent articles. How is it that BitShares is ignored so frequently? Usually when Counterparty and NXT are mentioned.

Maybe they don't take the time to understand it? Their loss if they don't get it. Anyway, we'll soon have several of the Top 10 coins and BTSX will be in Litecoin territory, so it will be hard to ignore in another couple of months.

Offline xeroc

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I've noticed this in several recent articles. How is it that BitShares is ignored so frequently? Usually when Counterparty and NXT are mentioned.
My guess: "They don't get it" .. seriously, the terms are totally new, not even 10% of the people understand what a DAC is doing, and then there is this peg! that everybody thinks cannot work .. how could it. ...

People just don't want to take the time to "read into" and investigate in deep ..
maybe also because the market engine is not totally set in stone yet ..

Offline roadscape

The writer didn't even mention BitShares, so we didn't get tarred with the "scheme" brush he applied to Ethereum, Counterparty, and Mastercoin. I guess he hasn't bothered looking at the market values in about two months.

I've noticed this in several recent articles. How is it that BitShares is ignored so frequently? Usually when Counterparty and NXT are mentioned.
http://cryptofresh.com  |  witness: roadscape

Offline donkeypong

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FYI:

An Open Letter to Reddit: Why You Should Build on Bitcoin:
https://medium.com/@barisser/an-open-letter-to-reddit-why-you-should-build-on-bitcoin-e52705bc87c5

The writer didn't even mention BitShares, so we didn't get tarred with the "scheme" brush he applied to Ethereum, Counterparty, and Mastercoin. I guess he hasn't bothered looking at the market values in about two months.

Offline xeroc

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Offline xeroc

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you people do realize that the /r/BitShares sub not even has 600 subscriptions? Do you think they will even start investigating?


Offline donkeypong

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Worth a try. I just doubt they're thinking that much.

EDIT: Would it be possible to have an external wallet, such as within Reddit, that holds/hosts a self-branded version of BTSX or BitUSD? It could be called RedditShares or whatever, but would essentially be 'colored' BTSX or BitUSD, freely exchangeable for such.
« Last Edit: October 01, 2014, 04:06:05 am by donkeypong »

Offline oldman

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Don't you think any coin worth its salt is trying to get them interested? If Reddit wants to use something that works, they could go with a social currency like Dogecoin or Reddcoin. If they wanted something more than just a coin, they could go with BitShares. But instead, I'm guessing they want to do it themselves, in which case it will be a Dogecoin- or Reddcoin-like coin which they can control.

That's the point - I3 marketing should be ensuring Reddit wants more than a coin... much more.

Offline donkeypong

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Don't you think any coin worth its salt is trying to get them interested? If Reddit wants to use something that works, they could go with a social currency like Dogecoin or Reddcoin. If they wanted something more than just a coin, they could go with BitShares. But instead, I'm guessing they want to do it themselves, in which case it will be a Dogecoin- or Reddcoin-like coin which they can control.