<story><title>Reddit has shut down its nascent cryptocurrency project</title><url>http://www.theguardian.com/technology/2015/feb/02/redditcoin-quietly-killed-off-and-lead-developer-fired</url></story><parent_chain></parent_chain><comment><author>alexis</author><text>Not sure where the author got &amp;quot;redditcoin&amp;quot; but here&amp;#x27;s what we&amp;#x27;re actually doing with redditnotes (I said the same thing to fortune when this rumor first arose):&lt;p&gt;We will be issuing redditnotes.&lt;p&gt;Our research leads us to want to wait until the law and technology around cryptocurrency are further along before deciding exactly how. We want to make sure we can give the community the full value of the equity when they receive it in the future, and today we haven’t been able to find a way to do that within existing regulations.&lt;p&gt;Edit: here&amp;#x27;s the last official blog post on the subject. 
&lt;a href=&quot;http://www.redditblog.com/2014/12/announcing-reddit-notes.html?m=1&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;www.redditblog.com&amp;#x2F;2014&amp;#x2F;12&amp;#x2F;announcing-reddit-notes.ht...&lt;/a&gt;
We were not contacted by this guardian reporter didn&amp;#x27;t contact us for comment. So it goes.</text></comment>
<story><title>Reddit has shut down its nascent cryptocurrency project</title><url>http://www.theguardian.com/technology/2015/feb/02/redditcoin-quietly-killed-off-and-lead-developer-fired</url></story><parent_chain></parent_chain><comment><author>harvestmoon</author><text>Reddit is a great site in what it does.  And due to its nature, it has tremendous amount of niches, some of which are worth a lot of money if handled properly.&lt;p&gt;For instance, &amp;#x2F;r&amp;#x2F;watches is an active area for discussion of watches.  The people who post there often share their new Rolex or their treasured Patek Phillipe.  &amp;#x2F;r&amp;#x2F;watches is just one of many, many such niches on the site which have a lot of potential value.&lt;p&gt;My thinking has been that reddit could focus on developing the value in its many product oriented subforums.&lt;p&gt;Also, interestingly enough, reddit has already sort of created its own new cybercurrency - dogecoin.  Though it may not be doing well, I think most of the value in dogecoin was how easy it was to use on reddit.&lt;p&gt;reddit does need to find a way to monetize.  I think it could do so quite successfully due to the nature of it having many high value niches.&lt;p&gt;I say all this as a big fan of the site and have even been considering making a subreddit finder (so that someone who is a fan of the TV show Suits, for instance, can know that there is &amp;#x2F;r&amp;#x2F;suits to discuss the show, which they would have simply no way of knowing if they just landed on reddit&amp;#x27;s homepage with pictures of Very Round Eggs, to use a current example).</text></comment>