I thought thats what Reddcoin already was.   Just goes to show how little I know about the altcoins that arent in the top 10.

Quote from: bytemaster on September 30, 2014, 06:54:36 PM
What is the goal of the currency?

"We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms."

It seems bitReddit and yield would accomplish this, no?

Quote from: MeTHoDx on September 30, 2014, 06:57:12 PM
Probably tipping.

It would definitely be used for this as well.

Quote from: nomoreheroes7 on September 30, 2014, 07:03:00 PM
lol too bad "Reddcoin" is already taken... :P

bitRedd it is...

lol too bad "Reddcoin" is already taken... :P

Quote from: yishanOk, here it is:
CAVEAT: KEEP IN MIND THAT THIS PLAN COULD TOTALLY FAIL
We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms.
Nothing like this has ever been done before. Basically we have to nail down how to do each step correctly (it is technically, legally, and financially complex), though in our brief consultation with an ex-SEC lawyer, he stated he could find nothing illegal about this plan. Nevertheless, there are something like 30 different things we have to pull off to make this work, so we're going to try.
(Also, I know this totally contradicts what I said over here[1] but that was before Sam proposed this plan to me, and the idea of being able to distribute ownership of reddit back to the community - a long-held dream of many of us, frankly - is important enough to try and do this)
Again, we want to emphasize that this plan is in its earliest stages right now and could totally fail (if it does, we will find another way to get the shares to the community somehow), but we are going to try it because... well, because we are reddit and we do these kinds of things.

Quote from: bytemasterWhat is the goal of the currency?

Probably tipping.

Quote from: bytemaster on September 30, 2014, 06:54:36 PM

Quote from: roadkill on September 30, 2014, 06:54:03 PM
If Reddit was to use the BTS platform, would it simply be a new asset on BTSX? Or would they need an entire DAC?

What is the goal of the currency?

From what I understand it's to raise funds: "the idea of being able to distribute ownership of reddit back to the community" -yishan (CEO of Reddit : http://en.wikipedia.org/wiki/Yishan_Wong)

Original blog post: http://www.redditblog.com/2014/09/fundraising-for-reddit.html

Quote from: roadkill on September 30, 2014, 06:54:03 PM
If Reddit was to use the BTS platform, would it simply be a new asset on BTSX? Or would they need an entire DAC?

What is the goal of the currency?

If Reddit was to use the BTS platform, would it simply be a new asset on BTSX? Or would they need an entire DAC?

It's the same thing Overstock wants to do, right?

As seen here:

https://www.reddit.com/r/blog/comments/2hwpmm/fundraising_for_reddit/ckwph30?context=3