reddit bitcoin

What Reddit Has to do With Bitcoin popularity

How do you catch up with the latest news? You listen to the news or watch them over the internet, right? well, that might be a convenient way of doing it. you can also go for the social media for the much-needed information on that you need.

Currently, there is so much happening around us. there are changes taking place in the political world, technical world and when it comes to how things are being done. We need to look for ways to inform our self about what happening around us.

reddit bitcoin

reddit bitcoin

Are you into music or funny videos? That can be a good way of keeping yourself busy during your free time. You need to know what your favourite musician is up to or even watch a funny clip to get that foul mood off your face. What is the best place to find all that?

There are so many social places where you can get all this. With the discovery of the internet, we have seen the emergence of social platforms that offer information that is meant to educate, inform and even entertain its users through its items.

A good example of the platform is the twitter, Facebook, Instagram, and the latest being reddit. Yes, Reddit is the new trending social media platform that is gaining popularity for all the good and bad reasons. It has attracted many followers and has become the talk of the town.

What is reddit?

Have you ever come across the site? If yes, you have the experience of why it is popular. If not, you need to read along and get the information that you need to know about the site. It has been a site that has been very influential among its users and that is why it has become that popular.

Reddit is a social news site where all registered users share links, contents, videos, or any other information that its users will find it interesting. The unique feature about the site is that it has a membership privilege where a member can choose to subscribe into a golden membership where he/she will have special privileges not discovered in the free membership pack.

The site has been influential among its users. Many are young people and college students. With the information posted, they can vote on what should appear on the front page and what is not interesting.

It is because of this that the opinion of such a site is to seek. That is because the site has a lot of audiences and an opinion of the users using the comment and interactive segment will have so much influence on how something is going to trend in the long run.

Origin of the reddit site

It is a site like Digg. The brilliant idea was discovered by Steve Huffman and Alexis Ohanian in the year2005. They came up with a platform where anyone can register and become a member of the site. They also came up with a way where users will be able to vote and interact with the site.

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In the year 2006 Conde Nast Publication acquired the ownership of the site and took charge of its operation till the year 2011 when reddit broke its attachment to Conde Nast. From the year 2011 till now, it has been operating under the umbrella of advance publication.

The site has been doing well when it comes to member registration. It has been able to bring over 26 million page views with 35 million users and over 1000 subreddits, quite impressive right?

Features of a reddit site

If the site is new to you, it might be hard for you to understand how it is made and how to go around it. read along as I tell you what the main features are you are likely to see when you go to the site;

  • Registration

For you to be able to navigate within the site, you must register. That means you need to go and sign in using the information that they need you to give after you give the information, you will be given access to the page where you will find the front page.

Members decide what will be found on the front page. With over a thousand subreddits being posted in the site, members have a chance to vote on the content that will interest other users and the more the vote, the more the content rise towards the front page.

There are two main ways you can subscribe to the site. The free subscription where you don’t need to pay anything for you to be able to access the site while there is a paid membership where you pay $30 per year for you to enjoy special privileges that are not in the free subscription.

  • Subreddits

They are also part of the site. They contain a wide range of material in form of content on technology, politics, videos, sports and even music. The content is meant to inform the user more about what is happening and what is new to the society.

  • The voting

This is what makes the site unique. Unlike the Facebook and the twitter, whether you like or dislike the content posted, at reddit, you need to vote and rate the content depending on how you find the content is. That helps the reddit team to determine what is on the front page and what is not.

It gives the users an opportunity of deciding what is good for the page and what’s not by giving their opinion on the interactive segment. That way, the team can know what to keep and what is inappropriate depending on the user’s voice.

Advantages of using the reddit site

  • Informative

If you are the kind of person who keeps on looking for new information on what is happening around the world, this is the place to be. With new subreddit being posted every day, you will have a lot of content to inform you about what is new and what is changing around you.

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There is a lot of content posted every day for you to choose from. From sports, movies, videos, music, in the world of politics, technology, what is new and trending news. You will always have something new to learn each time you log into the site.

  • Educative

You get to learn a lot with reddit. That is why a lot of students in college and university are advoked to follow the site to inform and get educated on what is happening and learn what they are not learning in lecture halls.

  • Interactive

You find new friends from the platform. Once you register into the site, you have a choice to join a community from which you will be able to interact, discuss and make friends. You even get to exchange gifts through the community which can be a kind social gesture.

  • Entertaining

It is not all serious and about business, you also get to find entertaining content that can keep you busy and in a good mood during your free time. They have funny video clips, music and news on what is happening in the entertainment industry.

  • Good for marketing brand

Investors and manufacturers of brands use the platform to market their goods and services. Through making people aware of their goods and services, they can reach out to potential buyers and in that way, their product and services sales go up as many will purchase.

Disadvantages

  • Inappropriate content

There are times when there is complain about inappropriate content circulating in the site. It can be uncomfortable and offending to some people and can lead to people not going to the site. A good example is the posting of nude photos of a popular actress which brought a lot of storms.

  • Content can influence a brand in a negative way

When various contents are posted, they are meant to stir a certain reaction. That is meant to give views on how the users feel on a product or service. If the content is not voted for, it might make people or users not to trust a certain product.

Bitcoin and reddit

Reddit has played a big role when it comes to raising an awareness of bitcoin. there has been a lot of content on bitcoin and cryptocurrency that has been posted in the site. That has raised the number of people who have an interest in the coin through the voting of the content on bitcoin.

Like said earlier, reddit has a way of influencing how people see a new product or service. When bitcoin content was first posted in the site, it was voted as the content of interested and that saw the bitcoin topic trending on the site front page for a long time now.

Contents on how the bitcoin is trending, buying, selling and how to approach the coin as a beginner have been voted to the front pages always making people read more and more on the coin and how it operates. People have learnt a lot through the platform.

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That has seen the rise in the buying of the coin. With people reading and understanding how the currency works, they have gained enough information on how to trade with the coin and what you can gain from trading with the coin.

Bitcoin investors in the site have also been following on how the coin is trending. It is through the bitcoin content that they will be able to make decisions on the value, when to sell and how to sell the bitcoin when the time is right, you see how influential it has been?

Reddit boosted the bitcoin trending when it accepted payment in form of bitcoin. yes, in February 2013 through a partnership with coin base made arrangement and bitcoin were accepted as the mode of payment by the gold members. This came as a positive move to the bitcoin users.

Then what happened?

One day, the users of reddit woke up to a no bitcoin payment option.  In the payment link, there was no option of payment with the bitcoin currency. This move surprised people since the platform is full of cryptocurrency investors who followed the site to observe the currency trend.

with the announcement that they will no longer accept payment of the gold membership fee in form of bitcoin, that caused a stir in the cryptocurrency industry as it was a negative move. It also had an effect in the way the bitcoin was trending.

People could not understand why the sudden move. In their explanation, they said their move was due to an upcoming Coinbase change combined with some bug around the bitcoin payment option that is affecting certain users.

Will they accept in the future?

Many people saw the high transaction fee as the cause for the move. At that time, the bitcoin transaction fee went as high as $50 which made it difficult for the bitcoin users to transact. What they are awaiting is whether the currency will be accepted in future.

When asked whether they will accept the mode of payment in the future, the management said that they are observing the Coinbase changes and the transaction cost and will decide when the time comes. Now the transaction cost is as low as $1.07 which is low enough for now.

Reddit and bitcoin have had a long relationship. They have been posting subreddit contents on bitcoin to make people know more about the coin. Many followers being the currency users have been contributing and releasing news on the currency to make people aware.

With the new move, it influences the bitcoin. reddit as a social platform has a say on how the future of bitcoin is going to trend. It is the hope of those who are interested in the coin that more and more information about the coin will be available despite the move to withdraw the bitcoin option of payment.

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