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Why Reddit removes payment option via Bitcoin?

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March 26, 2018 | 

Joanna Newman |  0 Comments| 

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According to an article in the famous Reddit forum published in subreddit / r / btc, users of the site will no longer have access to the payment option using Bitcoin. A decision that forces users to pay their subscription to the service "Reddit Gold" with only two ways, namely credit cards and PayPal.

The removal of this option has surprised many subscribers since Reddit was one of the first sites to engage in the acceptance of cryptographic currencies as a means of payment. Moreover, the site has established in 2013, an agreement with Coinbase allowing it to open to blockchain technology and accept payment with Bitcoin.


Incompatibility between Coinbase platform and Reddit


According to the explanations of the moderator Bitcoinxio of r / btc, the removal of the possibility of payment with Bitcoin is due to a recent change with "coinbase commerce". Moreover, a Reddit user known as "emoney04" added that the change of Coinbase combined with some bugs on Bitcoin payment functionality causing purchase problems for some users led to the removal of this cryptocurrency. currency as a payment option.

However, the latter also mentioned later that Reddit could still consider the possibilities of reactivation of the option. And that this decision would be mainly based on user demand and the growth of Coinbase Commerce. In addition, the moderator answered questions about BCH payment acceptance as an interesting alternative even though Bitcoin's transaction fees had fallen below those of BCH in February and that the site is keen to constantly go forward.


Subreddit/r/Darknetmarkets Suppression


Aside from removing the Bitcoin payment option, the Reddit platform has also banned the subreddit r / Darknetmarkets. A forum that allowed some Bitcoin users to track developments in cryptographic currency under a confidential framework.

Indeed, even if most discussions on this subreddit often resulted in transactions or product reviews, moderators Reddit had difficulty channeling the phenomenon.

The removal of the forum is therefore fully justified. Especially since this ban was made as part of a broader crackdown on subreddits against the policy of Reddit which opposes transactions involving services or prohibited goods. However, the sudden disappearance of this forum has led to the creation of several clones.


Reddit website subject to strict new regulation


The directors of Reddit have approved and implemented a new directive to ban the trade of illegal products and certain potentially dangerous accessories. In general, the list of prohibited goods on the site includes drugs, tobacco, alcohol, stolen goods, explosives, firearms, ammunition and any other by-product. Apart from this, the site also prohibits the promotion of paid services that involve physical sexual contact, the trade in personal information and falsified official documents.

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