Why Bitcoin Matters - Andreessen Horowitz

Marc Andreessen live on CNBC today. News reporters keep wanting to talk about the price of bitcoin. He let them know it's still far to early to talk about the price, and they seem to be starting to understand that.

That's the take-away everyone here should be taking away too. It's still far too early for Bitcoin to have a stable price, so don't invest in it unless you can afford to lose it! That way we will have less worried people around here while it's crashing. Right now the focus is building things to work with Bitcoin.
submitted by vegeenjon to Bitcoin [link] [comments]

P-REP Proposal; ICON, 20% exposure in top crypto event of 2020, reach 100+ universities/corporate partners (BETTER THAN SLICED BREAD), organized by MouseBelt.

Summary:
Event site: https://www.ri2020.io/
Event date: May 18th, 2020
P-PREP Commitment Date: April 30th, 2020
Telegram: u/markusreisner
We believe we have a strong proposition to market ICON in a meaningful way to some of the largest communities in crypto.
The MouseBelt team has the largest global network of over 100+ universities in 20+ countries. Over the last few months, 10+ university blockchain events we were working with got canceled for obvious reasons.
Due to that fact, and our understanding of our reach we decided to launch a virtual conference. Since April 10th here is what happened:
MouseBelt will invest over $70k+ into this event. We would like to have fellow P-Reps invest $20k (this will go 100% to BlockTV production cost).
The benefit to the ICON community will be:
Background:
MouseBelt is a popular blockchain ecosystem consisting of multiple parts:
MouseBelt as ICON developers:
Our engineering team has implemented token assets on ZenSports (SPORTS), the first STO on the ICON network, and GrowYourBase, the #1 IRC2 application token in market capitalization on the ICON network.
Currently, we are developing the Balanced network in concert with ICX_Station, PARROT9, and Iconosphere. Balanced will bring synthetic assets backed by ICX to the ICON network, as well as tokenized staked ICX. This can assist with both a stable asset for payments, and a base for other DeFi applications
MouseBelt as a P-Rep:
We have been a Main P-Rep most of the time since decentralization of the network and so far had utilized our funds for student education.
Such as the “ICON in a box” workshops and the Milwaukee Blockchain Conference, which we sponsored in a direct ICX payment and the second annual payment for UCLA’s blockchain engineering course.
REIMAGINE2020, Conference details:
Conferences have always been an integral part of the blockchain space to promote projects in the industry.
With recent evolutions around the globe, things have changed. They either got canceled or delayed.
We have created REIMAGINE2020, a virtual conference.
Shared by the ICON Foundation on April 18.
We can effectively and efficiently promote ICON to the world through Reiamgine2020 | BlockTV. The driving force behind the conference is: highest quality of Content matched with the best production quality for Video. The funds will allow MouseBelt to promote ICON logo/branding throughout the conference/programming for straight 72 hr of live streaming. Additionally, we have the opportunity to properly place ICON logo/branding in highly favorable on-screen placements (tickers/commercials/plugs and continuous branding) reaching 5M viewers globally. ICX Station is providing a Keynote to drive global interest.
Confirmed partners
Schedule & Format
Production Status
Audience
In addition to the communities of our confirmed partners and universities we are targeting:
1. Viewers - Tuning into the livestream, attending a workshop, or watching the content post-conference.
2. Participants - Speakers, partners, and sponsors
3. As far as hard data for "attendees" we have two signals:
submitted by patrickMouse to helloicon [link] [comments]

Altcoins seem to be struggling across the board; is this the playing out of the prediction that most of them will die out within ~5 years?

I can't find the original article predicting that most altcoins would die off within the next ~5 years (I thought it was Marc Andreessen but Google didn't turn up anything), but I remember reading it early 2014. I was poking around Blockr.io and noticed all the alt-coin chains they track are down in price, as opposed to Bitcoin, which is the only one trending up.
Screenshot comparison of various alts vs. BTC
Is this the playout of that prediction, or just a temporary thing?
submitted by vocatus to Bitcoin [link] [comments]

Several Regulated Trading Platforms Intend to List Bitcoin Derivatives, Says CFTC Commissioner

Link to original post on Coinsetter
Mark Wetjen, one of the commissioners of Commodities and Futures Trading Commission (CFTC) today penned an opinion piece in the Wall Street Journal revealing that several trading platforms already registered or soon to be registered intend to list Bitcoin derivative contracts. The CFTC has been one of the most active agencies looking into the promise of Bitcoin and what it could do for the financial system. They had a hearing about Bitcoin that attracted some of the key players in the industry and helped the committee learn more about where Bitcoin could head and how best to regulate it without stifling innovation.
CFTC Gets Interested
As Bitcoin gains in popularity, the derivative market around the cryptocurrency is bound to mature as well. Merchants who accept Bitcoin hedge their risk by direct conversion to fiat using payment processors like Coinbase or BitPay. However, these payment processors need to hedge their risk to currency fluctuation as well. The use of derivatives is an easy way to accomplish this, and the CFTC regulates derivatives like swaps in the United States. It should be noted that several exchanges already trade derivative products related to Bitcoin, but they are not regulated.
It is debatable whether Bitcoin is a commodity though, and whether CFTC has the authority to regulate it. From the article, Mr. Wetjen thinks it is –
The definition of “commodity” under the CFTC’s authorizing statute could be read to include Bitcoin, in which case the CFTC would have authority to bring enforcement actions against anyone who attempts to manipulate the virtual currency
Beyond Currencies
The CFTC seems to be one of the few governmental regulatory agencies that sees the potential of Bitcoin technology beyond its simple use as a currency. This was also clear during the hearings that the CFTC organized last year. The CFTC believes that Bitcoin and blockchain technology could rewrite the financial industry. In fact, Mr. Wetjen quotes Marc Andressen, a popular VC who has invested heavily in Bitcoin companies in his opinion article
“If [Bitcoin] works, we can re-implement the entire financial system as a distributed system as opposed to a centralized system. We can reinvent the entire thing.” … Bitcoin or similar technologies can be used as platforms for financial innovation in the digital transfer of currency, securities, contracts and sensitive information. Such innovation could play a fascinating role in the derivatives markets as well as financial services more broadly, as Mr. Andreessen suspects.
The CFTC then seems to believe that Bitcoin has potential to recreate many of the financial industry systems. Several experts also believe that most of the futures regulation that the CFTC oversees could be written as smart contracts on the Bitcoin blockchain, thus making it unnecessary to explicitly regulate Bitcoin futures contracts.
Price Manipulation
The CFTC has also made it clear that if Bitcoin is regulated under its jurisdiction, it will have the authority to take action against Bitcoin price manipulation. Bitcoin price currently is pretty much a wild-west currently with many possible ways to manipulate the price. Therefore, even the products that are approved by the CFTC need to take the price of Bitcoin only from those exchanges that can comply with existing regulation (such as KYC rules).
It seems like the CFTC is keen on seeing Bitcoin succeed and realize its potential while limiting its downside risk by creating a framework under which startups can operate.
Rarely can derivatives regulators anticipate a new market’s potential benefits while devising an appropriate regulatory framework. But virtual currencies such as Bitcoin, and other competing protocols and related technologies, represent such an opportunity.
submitted by bitcoin-news to BitcoinMarkets [link] [comments]

[uncensored-r/Bitcoin] It's in times like these that education is necessary

The following post by jonat3 is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7r1eah
The original post's content was as follows:
Playlist with Andreas Antonopoulos as well as a few other classics. Is meant for people completely new to bitcoin.
Took quite awhile to assemble this playlist. Playlist is in chronological order. Watch in that sequence. Adjust playing speed in youtube to suit your needs.
Consider this page 1 in a series. May be updated from time to time.
Intro
Who is in control
How does it work
Security (and who's backing it)
By the love of God, watch first video entirely (click link in description once you understand). Don't be goxxed!
Some videos about bitcoin being a bubble
Some basic economics
Networks (!!!)
Why Bitcoin
Altcoins vs Bitcoin
Worried about high fees or the slow transactions? See the motivation behind the fee structure (pay special attention to the last video)
Important classics about the theory of money
Early classics (last video is gold :p)
Important backdrop for why bitcoin emerged starring Stefan Molyneux and Mike Maloney
Bitcoin's larger importance with Andreas Antonopoulos
Banking and Blockchain with Andreas Antonopoulos
Consumer protection
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Reddit (stylized as reddit, /ˈrɛdɪt/)[5] is a social news aggregation, web content rating, and discussion website. Reddit's registered community members can submit content, such as text posts or direct links.

Registered users can then vote submissions up or down to organize the posts and determine their position on the site's pages. The submissions with the most positive votes appear on the front page or the top of a category. Content entries are organized by areas of interest called "subreddits". The subreddit topics include news, science, gaming, movies, music, books, fitness, food, and image-sharing, among many others. The site's terms of use prohibit behaviors such as harassment, and moderating and limiting harassment has taken substantial resources.[6]
As of 2016, Reddit had 542 million monthly visitors (234 million unique users), ranking #11 most visited web-site in US and #25 in the world.[7] Across 2015, Reddit saw 82.54 billion pageviews, 73.15 million submissions, 725.85 million comments, and 6.89 billion upvotes from its users.[8]
Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian in 2005. Condé Nast Publications acquired the site in October 2006. Reddit became a direct subsidiary of Condé Nast's parent company, Advance Publications, in September 2011. As of August 2012, Reddit operates as an independent entity, although Advance is still its largest shareholder.[9] Reddit is based in San Francisco, California. In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto.[10] Their investment saw the company valued at $500 million.[11][12]
Contents
1 Description 1.1 Site 1.2 Users 1.3 Subreddits 1.3.1 IAmA and AMA 1.3.2 /science 1.3.3 April Fools subreddits 1.3.3.1 The Button 1.3.3.2 Robin 2 History 3 Technology 4 Demographics 5 Community and culture 5.1 Philanthropic efforts 5.2 Commercial activity 5.3 Reddit effect 5.4 "Restoring Truthiness" campaign 5.5 Controversies 5.5.1 2010 5.5.2 2011 5.5.3 2013 5.5.4 2014 5.5.5 2015 5.5.6 2016 6 Other 7 See also 8 References 9 External links 
Description Site
The site is a collection of entries submitted by its registered users, essentially a bulletin board system. The name "Reddit" is a play-on-words with the phrase "read it", i.e., "I read it on Reddit."[13] The site's content is divided into numerous categories, and 49 such categories, or "default subreddits", are visible on the front page to new users and those who browse the site without logging in to an account. As of May 2016, these include:[14] Category Subreddits Educational News, Science, Space, DataIsBeautiful, TodayILearned, WorldNews Entertainment Creepy, Documentaries, Gaming, ListenToThis, Movies, Music, NoSleep, Sports, Television, Videos Discussion-based AskReddit, AskScience, Books, ExplainLikeImFive, History, IAmA, TwoXChromosomes Humolight-hearted Funny, InternetIsBeautiful, Jokes, NotTheOnion, ShowerThoughts, TIFU, UpliftingNews Image sharing Art, Aww, EarthPorn, Gifs, MildlyInteresting, OldSchoolCool, PhotoshopBattles, Pics Self-improvement DIY, Food, GetMotivated, LifeProTips, PersonalFinance, Philosophy, WritingPrompts Technology Futurology, Gadgets Meta Announcements, Blog
Note: There are over 11,400 active subreddits[15][16][17] with a default set of 50 subreddits as of February 2016. 
When items (links or text posts) are submitted to a subreddit, the users, called "redditors",[18] can vote for or against them (upvote/downvote). Each subreddit has a front page that shows newer submissions that have been rated highly. Redditors can also post comments about the submission, and respond back and forth in a conversation-tree of comments; the comments themselves can also be upvoted and downvoted. The front page of the site itself shows a combination of the highest-rated posts out of all the subreddits a user is subscribed to.
Front-page rank – for both the general front page and for individual subreddits – is determined by the age of the submission, positive ("upvoted") to negative ("downvoted") feedback ratio and the total vote-count.[19] Dozens of submissions cycle through these front pages daily.
The site's logo and mascot is a line drawing of an alien nicknamed "Snoo". Subreddits often use themed variants of Snoo relevant to the subject.[20]
Although most of the site functions like a bulletin board or message board, each subreddit has the option of having an associated wiki that can provide supplementary material like instructions, recommended reading, or collaboration for real-life events. Users
Registering an account with Reddit is free and does not require an email address to complete. As of June 2015, there were 36 million user accounts.[21] When logged in, Reddit users (known as redditors) have the ability to vote on submissions and comments to increase or decrease their visibility and submit links and comments. Users can also create their own subreddit on a topic of their choosing, and interested users can add it to their frontpage by subscribing to it. For example, as of May 2015, the Wikipedia subreddit – subtitled "the most interesting pages on Wikipedia" – has over 151,000 subscribers.[22] Reddit comments and submissions are occasionally abbreviated and peppered with terms that are understood within (and in many cases also outside) the Reddit community, ranging from OP (for "original poster" – the user who posted the submission being commented upon) to NSFW (for "not safe for work" – indicating the post has graphic or sexually explicit content).[23] Users earn "post karma" and "comment karma" for submitting text posts, link posts, and comments, which accumulate as point values on their user profile. "Post karma" refers to karma points received from text and link posts, while "comment karma" refers to karma points received from comments. Users may also be gifted "Reddit gold" if another user has well received the comment or post, generally due to humorous or high quality content; this process is known as "gilding." Reddit has also created a system of points called "creddits". Reddit gold "creddits" are like gift certificates: each creddit you have allows you to give one month of Reddit gold to someone else. The points do not lead to a prize as they are meant to stand in as a badge of honor for the user among their peers, although redditors have attempted to redeem their points before.[24]
Reddit also allows submissions that do not link externally. These are called "self posts" or "text submissions". Many discussion-based subreddits allow only text-only submissions such as "AskReddit" – where users are only allowed to pose broad, discussion based questions to the community at large. Self posts previously did not accumulate karma points for the submitter, but as of July, 2016, these text only posts generate karma.[25] Mister Splashy Pants logo used on November 27, 2007
Reddit communities occasionally coordinate Reddit-external projects such as skewing polls on other websites, such as in 2007 when Greenpeace allowed web users to decide the name of a humpback whale it was tracking. Reddit users voted en masse to name the whale "Mr. Splashy Pants", and Reddit administrators further encouraged this by changing the site logo to a whale during the voting. In December of that year, Mister Splashy Pants was announced as the winner of the competition.[26]
Within the site, redditors commemorate their "cake day" once a year, which is the anniversary of the day the user's account was first created. The "cake day" offers no special benefit, except that a small icon representing a slice of cake appears next to that user's name for 24 hours.[27] Redditors can "friend" one another, which gives a redditor quick access to posting and comments of their friend list. The commenting system and friend system, along with a certain "Reddit ethos" (called reddiquette on Reddit), lend Reddit aspects of a social networking service, though not to the extent of Facebook, Google+, and other websites aimed at providing social networking services. The Reddit community also socializes at meetups held at local parks and bars around the world,[28] and many localized subreddits for local in-person meetings exist. Subreddits
Reddit entries are organized into areas of interest called "subreddits". Originally, the front page was the "main-reddit", and other areas were "subreddits". There is now no longer a single main-reddit. Instead, there are now 50 "default subreddits" dealing with topics such as books, television, and music, and thousands of additional non-default subreddits. The default subreddits are the 50 subreddits which are first recommended to new users to select from to appear on, or via their customizable top menu bars. All new users are initially automatically "subscribed to" the 50 default subreddits, but can then customize their "subscriptions."
Any registered user who has maintained an account for 31 days or more may create a non-default subreddit.[29] There are over 11,400 active total subreddits to peruse,[15][16][17] including the default set of 50 subreddits as of February 2016. The site has a default "Front Page" which contains staff selected popular articles, and also an "All Page" which contains only the very top ranked article/ subreddits as ranked by readers themselves, and which page is accessible via an "All" link at the top of the "Front Page."
In an interview with Memeburn, Reddit GM, Martin noted that the platform's "approach is to give the community moderators or curators as much control as possible so that they can shape and cultivate the type of communities they want".[30] IAmA and AMA
One of the most popular subreddits is IAmA ("I Am A") where a user may post "AMAs" (for "Ask Me Anything"), or similarly "AMAAs" (for "Ask Me Almost/Absolutely Anything") – prompts for others to ask questions about any topic. AMAs are open to all Reddit users, and use the site's comment system for both questions and answers; it is similar to a press conference but online. This subreddit was founded in May 2009.[31] From 2013 to 2015, Victoria Taylor assisted reddit's volunteer community in presenting interviews.[32][33][34]
A number of notable individuals have participated in the IAmA subreddit, including United States President Barack Obama[35][36] (while campaigning for the 2012 election), Dave Grohl,[37] Madonna,[38] Chris Hadfield[39] (who answered questions from the International Space Station), Bill Gates,[40] Ron Paul,[41] Stephen Colbert,[42] Psy, Enya, Arnold Schwarzenegger, Rachel Maddow, Renée Fleming, M. Shadows, Louis C.K., Roger Federer, Larry King, Philip Zimbardo, Bill Nye,[43] Stan Lee, John Mather, David Copperfield, Paul Krugman, Danny Boyle, rapper J. Cole,[44] Al Gore, Roger Ebert, Michael Bolton, Gary Johnson, Lawrence Krauss, Jill Stein, Kevin Rudd, Julie Benz,[45] Amanda Palmer,[46] Tim Ferriss,[47] Gordon Ramsay,[48] Peter Dinklage,[49] Chandra Wickramasinghe,[50] Neil deGrasse Tyson,[51] and Bernie Sanders.[52] Donald Trump (during his 2016 Presidential Campaign) had an AMA on /The Donald subreddit.[53] As of April 2015, Barack Obama's AMA is the highest rated on the site;[54] the increased traffic brought down many parts of the website when the AMA occurred on August 29, 2012.[55]
Celebrities participating in IAmAs have seen both positive and negative responses. Woody Harrelson's[56] AMA was criticized after Harrelson declined to answer questions that were unrelated to the movie Rampart he was promoting.[57] In contrast, rapper Snoop Dogg attracted 1.6 million page views[58] after conducting an AMA that provided several candid responses to the community's questions.[59]
Other than Harrelson's, Bollywood actress Priyanka Chopra's[60] AMA was criticized for evasiveness when she focused on promoting her upcoming album to the detriment of other questions. A particularly well received AMA of 2014 was that of Peter Dinklage,[61] best known for his role as Tyrion Lannister in the HBO drama series Game of Thrones. Redditors attribute the thread's success to the thoroughness of his responses and the fact that he stayed online much longer than he was expected to so he could spend more time with his fans. The actor departed by commenting:
This feels like being interviewed by a hundred thousand news anchors at once! But much friendlier anchors...who seem to know their material...I really appreciate everyone's enthusiasm and questions. I tried to move another engagement to make more time but it's really hard during shoots. I am going to try to answer a few more short ones now. And remember: If you see me on the street and want a photo, ask! It's just weird when your kid asks for directions.[62] 
On July 2, 2015, hundreds of subreddits, including several with over a million subscribers, were set to private by their respective moderators after Reddit's director of talent, Victoria Taylor, was dismissed.[63][64][65][66] Sources close to Reddit cited an increased focus on commercializing AMAs as the most likely reason.[67][68] /science File:American Chemical Society - What Chemists Do - Nathan Allen.webmPlay media Nathan Allen speaks about /science to the American Chemical Society Main article: /science
/science is an Internet forum on Reddit where the community of participants discuss science topics.[69] A popular feature of the forum is "Ask me Anything" (AMA) public discussions.[69] As of 2014, /science attracted 30,000-100,000 visitors per day, making it the largest community-managed science forum and an attractive place to host discussions.[69] April Fools subreddits The Button Main article: The Button (Reddit)
On April Fools' Day 2015, a social experiment was launched in the form of a subreddit called "thebutton". It featured a button and a 60-second countdown timer. User accounts created before that day were eligible to participate. A user could only ever click the button once, or opt not to click it. If a user clicked the button the timer was globally reset to 60 seconds,[70] and the user's "flair" (an icon next to the user's name) changed color. Colors were assigned based on a gradient from purple to red with purple signifying up to 60 seconds and red as low as 0 seconds. The countdown prematurely reached zero several times due to technical problems but eventually expired without further problems on June 5, 2015, after which the subreddit was archived.[71] Robin
On April Fools' Day 2016, a social experiment was launched in the form of a chat widget named Robin. After clicking the "Robin" button, an IRC-like chat window was initially opened with one other redditor and giving a certain time to pick between three options, "Grow," "Stay" and "Abandon".[72] "Grow" would join the chat with another group, "Stay" would close the group chat and create a subreddit with that group as moderators and "Abandon" would close the group chat and everyone goes back to a group of two. History Further information: Timeline of Reddit Co-founder Alexis Ohanian speaking in 2009
In June 2005,[73] Reddit was founded in Medford, Massachusetts by Steve Huffman and Alexis Ohanian, both 22-year-old graduates of the University of Virginia.[74] The team expanded to include Christopher Slowe in November 2005. Between November 2005 and January 2006 Reddit merged with Aaron Swartz's company Infogami, and Swartz became an equal owner of the resulting parent company, Not A Bug.[75][76] Condé Nast Publications, owner of Wired, acquired Reddit on October 31, 2006, and the team moved to San Francisco.[77] In January 2007, Swartz was fired.[78]
By the end of 2008, the team had grown to include Erik Martin, Jeremy Edberg,[79] David King,[80] and Mike Schiraldi.[81] In 2009, Huffman and Ohanian moved on to form Hipmunk, recruiting Slowe[82] and King[83] shortly thereafter. In May 2010, Reddit was named in Lead411's "2010 Hottest San Francisco Companies" list.[84] In July 2010, after explosive traffic growth, Reddit introduced Reddit Gold, offering new features for a price of $3.99/month or $29.99/year.[85] Reddit Gold adds a number of features to the interface, including the ability to display more comments on a page, access to the private "lounge" subreddit, and notifications whenever one's username is mentioned in a comment. It's also possible to endow comments or submissions of other users and thereby give a gold membership to them as an anonymous present.[86]
On September 6, 2011, Reddit became operationally independent of Condé Nast, now operating as a separate subsidiary of its parent company, Advance Publications.[87] On January 11, 2012, Reddit announced that it would be participating in a 12-hour sitewide blackout in protest of the Stop Online Piracy Act.[88] The blackout occurred on January 18 and coincided with the blackouts of Wikipedia and several other websites. In May 2012, Reddit joined the Internet Defense League, a group formed to organize future protests.[89] On February 14, 2013, Reddit began accepting the digital currency bitcoin for its Reddit Gold subscription service through a partnership with bitcoin payment processor Coinbase.[90]
In October 2014, Reddit announced Redditmade, a service which allowed moderators to create merchandise for their subreddits. Redditmade closed in February 2015.[91] In November 2014, Chief Executive Yishan Wong resigned and co-founder Ohanian returned as the full-time executive chairman. Ellen Pao, Reddit's business and partnerships strategist became the interim chief executive.[92] On July 10, 2015, Pao resigned and was replaced by Steve Huffman as CEO.[93][94]
In October 2015, Reddit announced a news portal called Upvoted, designed to broaden the reach of Reddit as a standalone site featuring editorial content from Reddit users.[95] In April 2016, Reddit launched a new blocking tool in an attempt to curb online harassment. The tool allows a user to hide posts and comments from selected redditors in addition to blocking private messages from those redditors.[96] The option to block a redditor is done by clicking a button in the inbox. Technology
Reddit was originally written in Common Lisp but was rewritten in Python in December 2005.[4] The reasons given for the switch were wider access to code libraries and greater development flexibility. The Python web framework that former Reddit employee Swartz developed to run the site, web.py, is now available as an open-source project.[97] On June 18, 2008, Reddit became an open source project.[98] With the exception of the anti-spam/cheating portions, all of the code and libraries written for Reddit became freely available on GitHub.[99] As of November 10, 2009, Reddit uses Pylons as its web framework.[100]
As of November 10, 2009, Reddit has decommissioned their physical servers and migrated to Amazon Web Services.[101] Reddit uses PostgreSQL as their primary datastore and is slowly moving to Apache Cassandra, a column-oriented datastore. It uses RabbitMQ for offline processing, HAProxy for load balancing and memcached for caching. In early 2009, Reddit started using jQuery.[102] On June 7, 2010, Reddit staff launched a revamped mobile interface featuring rewritten CSS, a new color scheme, and a multitude of improvements.[103]
On July 21, 2010, Reddit outsourced the Reddit search engine to Flaptor, who used its search product IndexTank.[104] As of July 12, 2012, Reddit uses Amazon CloudSearch.[105] There are several unofficial applications that use the Reddit API in the Google Play store, and F-Droid repository. Examples include: Reddit is Fun,[106] Andreddit,[107] F5, BaconReader,[108] Reddit Sync[109] and an Android tablet specific application called Reddita.[110] There are also several Windows apps used to access Reddit, including unofficial Reddit apps such as ReddHub[111] and Reddit To Go!.[112] An unofficial desktop application Reditr[113] exists that is compatible with Windows, OS X, Linux and ChromeOS.
There are several Reddit applications for iOS. These include Karma, Upvote, iReddit, iPad-specific applications such as Reddzine and Biscuit, and, until April 2016, Alien Blue.[114] In September 2014, an official mobile application for browsing AMA (Ask Me Anything) threads was released for the iOS and Android platforms under the name Ask me Anything.[115] In October 2014, Alien Blue was acquired by Reddit and became the official iOS Reddit app.[116] In April 2016, Reddit released an official application called Reddit: The Official App, which is available on Google Play and the iOS App Store, and Alien Blue was removed from the App Store in favor of the new app.[117] Demographics
According to Reddit's Audience and Demographics page, as of December 2015, 53% of redditors are male and 54% are from the United States.[118] In 2013 Pewinternet.org stated that 6% of all American adult Internet users have used Reddit; that males were twice as likely to be redditors as females were; and that Reddit's largest age bracket was between the ages of 18 and 29.[119] Community and culture
The website is known for its open nature and diverse user community that generate its content.[120] Its demographics allows for wide-ranging subject areas, or main subreddits, that receive much attention, as well as the ability for smaller subreddits to serve more niche purposes. For example, the University of Reddit, a subreddit that exists to communally teach, emerged from the ability to enter and leave the online forum, the "classroom", at will, and classes ranging from computer science to music, to fine art theory exist.[121] The unique possibilities that subreddits provide create new opportunities for raising attention and fostering discussion across many areas. In gaining popularity in terms of unique users per day, Reddit has been a platform for many to raise publicity for a number of causes. And with that increased ability to garner attention and a large audience, users can use one of the largest communities on the Internet for new, revolutionary, and influential purposes.[122]
Its popularity has enabled users to take unprecedented advantage of such a large community. Its innovative socially ranked rating and sorting system drives a method that is useful for fulfilling certain goals of viewership or simply finding answers to interesting questions. User sentiments about the website's function and structure include feelings about the breadth and depth of the discussions on Reddit and how the site makes it easy to discover new and interesting items. Almost all of the user reviews on Alexa.com, which rates Reddit's monthly unique traffic rating 125th in the United States, mention Reddit's "good content" as a likable quality. However, others raise the negative aspects of the potential for Reddit's communities to possess a "hive mind" of sorts,[123] embodying some negative aspects of group interaction theories like crowd psychology and collective consciousness. Philanthropic efforts
Reddit has been known as the instigator of several charity projects, some short and others long-term, in order to benefit others. A selection of major events are outlined below:
In early October 2010, a story was posted on Reddit about a seven-year-old girl, Kathleen Edward, who was in the advanced stages of Huntington's disease. The girl's neighbors were taunting her and her family. Redditors banded together and gave the girl a shopping spree[124][125] at Tree Town Toys, a toy store local to the story owned by a Reddit user. In early December 2010, members of the Christianity subreddit decided to hold a fundraiser[126] and later members of the atheism subreddit decided to give some friendly competition,[127] cross-promoting[128] fundraising drives for Doctors Without Borders and World Vision's Clean Water Fund, respectively. Later, the Islam subreddit joined in, raising money for Islamic Relief. In less than a week, the three communities (as well as the Reddit community at large) raised over $50,000.[129] Most of this was raised by the atheism subreddit, though the smaller Christianity subreddit had a higher average donation amount per subscriber.[130] A similar donation drive in 2011 saw the atheism subreddit raise over $200,000 for charity.[131] Reddit started the largest Secret Santa program in the world, which is still in operation to date. For the 2010 Holiday season, 92 countries were involved in the Secret Santa program. There were 17,543 participants, and $662,907.60 was collectively spent on gift purchases and shipping costs.[132][133][134] In 2014, about 200,000 users from 188 countries participated.[135] Several Celebrities have participated in the program, including Bill Gates[136] and Snoop Dogg.[137] Eventually, the Secret Santa program expanded to various other occasions through Redditgifts. Members from Reddit donated over $600,000 to DonorsChoose in support of Stephen Colbert's March to Keep Fear Alive. The donation spree broke previous records for the most money donated to a single cause by the Reddit community and resulted in an interview with Colbert on Reddit.[138] Reddit users donated $185,356 to Direct Relief for Haiti after an earthquake devastated the nation in January 2010.[139] Reddit users donated over $70,000 to the Faraja Orphanage in the first 24 hours to help secure the orphanage after intruders robbed and attacked one of the volunteers, who survived a strike to the head from a machete.[140] In October 2012, "Shitty Watercolour", a popular Redditor known for posting watercolor paintings on the website,[141][142][143] streamed live a 12-hour painting session on YouTube to raise money for charity: water, a non-profit organization which aims to provide potable drinking water in developing countries. Redditors donated a minimum of $10 to have a photo of their choice painted in a 5 by 5 centimetres (2.0 by 2.0 in) square section of large sheets of paper.[144][145] The paint-a-thon raised $2,700.[146] In February 2014, Reddit announced it would be donating 10% of its annual ad revenue to non-profits voted upon by its users.[147] Reddit continued this policy for 2015, donating $82,765 each to Electronic Frontier Foundation, Planned Parenthood Federation of America, Doctors Without Borders, Erowid Center, Wikimedia Foundation, Multidisciplinary Association for Psychedelic Studies, NPR, Free Software Foundation, Freedom From Religion Foundation, and Tor Project.[148] In response to the 2015 Nepal Earthquake, redditors raised more than $145,000 for Direct Relief and more than $110,000 for MAP International.[149] 
Commercial activity
In February 2013, Betabeat published a post that recognized the influx of multi-national corporations like Costco, Taco Bell, Subaru, and McDonald's posting branded content on Reddit that was made to appear as if it was original content from legitimate Reddit users.[150] Reddit's former Director of Communications noted that while a large number of Chief Marketing Officers want to "infiltrate the reddit community on behalf of their brand," she emphasized that "self-promotion is frowned upon" and the site is "100 percent organic."[151][152][153][154] She recommended that advertisers design promotions that "spark conversations and feedback."[155] She recommended that businesses use AMAs to get attention for public figures but cautioned "It is important to approach AMAs carefully and be aware that this may not be a fit for every project or client."[156] Nissan ran a successful Branded content promotion offering users free gifts to publicize a new car,[157][158] though the company was later ridiculed for suspected astroturfing when the CEO only answered puff piece questions on the site.[159][160] Taylor described these situations as "high risk" noting "We try hard to educate people that they have to treat questions that may seem irreverent or out of left field the same as they would questions about the specific project they are promoting."[161]
Reddit's users are more privacy-conscious than on other websites, using tools like AdBlock and proxies,[162] and they hate "feeling manipulated by brands" but respond well to "content that begs for intelligent viewers and participants."[163] Lauren Orsini writes in ReadWrite that "Reddit's huge community is the perfect hype machine for promoting a new movie, a product release, or a lagging political campaign" but "very specific set of etiquette. Redditors don't want to advertise for you, they want to talk to you."[164] Journalists have used the site as a basis for stories, though they are advised by the site's policies to respect that "reddit's communities belong to their members" and to seek proper attribution for people's contributions.[165]
Reddit announced that they would begin using VigLink to redirect affiliate links in June 2016.[166] Reddit effect Main article: Slashdot effect
Also known as the "Slashdot effect", the Reddit effect occurs when a smaller website has a high influx of traffic after being linked to on Reddit.[167] It is also called the "Reddit Hug of Death" among the website's users. Because Reddit is such a large site, the traffic is immense and can easily crash smaller sites. In order for users to see crashed websites, several Reddit bots have been created that take a snapshot of the website before large amounts of traffic flood the affected website. "Restoring Truthiness" campaign
As a response to Glenn Beck's August 28, 2010, Restoring Honor rally (heavily promoted by him in his Fox News broadcasts during the summer), in September 2010 Reddit users started a movement to persuade Stephen Colbert to have a counter-rally in Washington, D.C.[168] The movement, which came to be called "Restoring Truthiness", was started by user mrsammercer, in a post where he described waking up from a dream in which Stephen Colbert was holding a satirical rally in D.C.[169] He writes, "This would be the high water mark of American satire. Half a million people pretending to suspend all rational thought in unison. Perfect harmony. It'll feel like San Francisco in the late 60s, only we won't be able to get any acid."
The idea resonated with the Reddit community, which launched a campaign to bring the event to life. Over $600,000[170] was raised for charity to gain the attention of Colbert. The campaign was mentioned on-air several times, and when the Rally to Restore Sanity and/or Fear was held in Washington, D.C. on October 30, 2010, thousands of redditors made the journey.[171]
During a post-rally press conference, Reddit co-founder Ohanian asked, "What role did the Internet campaign play in convincing you to hold this rally?" Jon Stewart responded by saying that, though it was a very nice gesture, the two had already thought of the idea prior and the deposit on using the National Mall was already paid during the summer, so it acted mostly as a "validation of what we were thinking about attempting".[172] In a message to the Reddit community, Colbert later added, "I have no doubt that your efforts to organize and the joy you clearly brought to your part of the story contributed greatly to the turnout and success."[173]
See also
General
Crowdsourcing Internet culture PTT Bulletin Board System Social bookmarking Unidan Web 2.0 iconInternet portal 
Similar websites
Delicious Digg Diigo Fark Imzy Kuro5hin MetaFilter StumbleUpon Voat 
submitted by NERDSLAYER_Y2K to Negareddit [link] [comments]

Second.

Reddit (stylized as reddit, /ˈrɛdɪt/)[5] is an American social news aggregation, web content rating, and discussion website. Reddit's registered community members can submit content, such as text posts or direct links. Registered users can then vote submissions up or down to organize the posts and determine their position on the site's pages. The submissions with the most positive votes appear on the front page or the top of a category. Content entries are organized by areas of interest called "subreddits". The subreddit topics include news, science, gaming, movies, music, books, fitness, food, and image-sharing, among many others. The site's terms of use prohibit behaviors such as harassment, and moderating and limiting harassment has taken substantial resources.[6]
As of 2017, Reddit had 542 million monthly visitors (234 million unique users), ranking #7 most visited web-site in US and #22 in the world.[7] Across 2015, Reddit saw 82.54 billion pageviews, 73.15 million submissions, 725.85 million comments, and 6.89 billion upvotes from its users.[8]
Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian in 2005. Condé Nast Publications acquired the site in October 2006. Reddit became a direct subsidiary of Condé Nast's parent company, Advance Publications, in September 2011. As of August 2012, Reddit operates as an independent entity, although Advance is still its largest shareholder.[9] Reddit is based in San Francisco, California. In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, and Jared Leto.[10] Their investment saw the company valued at $500 million.[11][12]
Contents
1 Description 1.1 Site 1.2 Users 1.3 Subreddits 1.3.1 IAmA and AMA 1.3.2 /science 1.3.3 April Fools subreddits 1.3.3.1 The Button 1.3.3.2 Robin 2 History 3 Technology 4 Demographics 5 Community and culture 5.1 Philanthropic efforts 5.2 Commercial activity 5.3 Reddit effect 5.4 "Restoring Truthiness" campaign 5.5 Controversies 5.5.1 2010 5.5.2 2011 5.5.3 2013 5.5.4 2014 5.5.5 2015 5.5.6 2016 5.5.7 2017 6 Other 7 See also 8 References 9 External links 
Description Site
The site is a collection of entries submitted by its registered users, essentially a bulletin board system. The name "Reddit" is a play-on-words with the phrase "read it", i.e., "I read it on Reddit."[13] The site's content is divided into numerous categories, and 49 such categories, or "default subreddits", are visible on the front page to new users and those who browse the site without logging in to an account. As of May 2016, these include:[14] Category Subreddits Educational News, Science, Space, DataIsBeautiful, TodayILearned, WorldNews Entertainment Creepy, Documentaries, Gaming, ListenToThis, Movies, Music, NoSleep, Sports, Television, Videos Discussion-based AskReddit, AskScience, Books, ExplainLikeImFive, History, IAmA, TwoXChromosomes Humolight-hearted Funny, InternetIsBeautiful, Jokes, NotTheOnion, ShowerThoughts, TIFU, UpliftingNews Image sharing Art, Aww, EarthPorn, Gifs, MildlyInteresting, OldSchoolCool, PhotoshopBattles, Pics Self-improvement DIY, Food, GetMotivated, LifeProTips, PersonalFinance, Philosophy, WritingPrompts Technology Futurology, Gadgets Meta Announcements, Blog
Note: There are over 11,400 active subreddits[15][16][17] with a default set of 50 subreddits as of February 2016. 
When items (links or text posts) are submitted to a subreddit, the users, called "redditors",[18] can vote for or against them (upvote/downvote). Each subreddit has a front page that shows newer submissions that have been rated highly. Redditors can also post comments about the submission, and respond back and forth in a conversation-tree of comments; the comments themselves can also be upvoted and downvoted. The front page of the site itself shows a combination of the highest-rated posts out of all the subreddits a user is subscribed to.
Front-page rank – for both the general front page and for individual subreddits – is determined by the age of the submission, positive ("upvoted") to negative ("downvoted") feedback ratio and the total vote-count.[19] Dozens of submissions cycle through these front pages daily.
The site's logo and its mascot is a line drawing of an alien nicknamed "Snoo". Subreddits often use themed variants of Snoo relevant to the subject.[20]
Although most of the site functions like a bulletin board or message board, each subreddit has the option of having an associated wiki that can provide supplementary material like instructions, recommended reading, or collaboration for real-life events. Users
Registering an account with Reddit is free and does not require an email address to complete. As of June 2015, there were 36 million user accounts.[21] When logged in, Reddit users (known as redditors) have the ability to vote on submissions and comments to increase or decrease their visibility and submit links and comments. Users can also create their own subreddit on a topic of their choosing, and interested users can add it to their frontpage by subscribing to it. For example, as of May 2015, the Wikipedia subreddit – subtitled "the most interesting pages on Wikipedia" – has over 151,000 subscribers.[22] Reddit comments and submissions are occasionally abbreviated and peppered with terms that are understood within (and in many cases also outside) the Reddit community, ranging from OP (for "original poster" – the user who posted the submission being commented upon) to NSFW (for "not safe for work" – indicating the post has graphic or sexually explicit content).[23] Users earn "post karma" and "comment karma" for submitting text posts, link posts, and comments, which accumulate as point values on their user profile. "Post karma" refers to karma points received from text and link posts, while "comment karma" refers to karma points received from comments. Users may also be gifted "Reddit gold" if another user has well received the comment or post, generally due to humorous or high-quality content; this process is known as "gilding." Reddit has also created a system of points called "creddits". Reddit gold "creddits" are like gift certificates: each creddit you have allows you to give one month of Reddit gold to someone else. The points do not lead to a prize as they are meant to stand in as a badge of honor for the user among their peers, although redditors have attempted to redeem their points before.[24]
Reddit also allows submissions that do not link externally. These are called "self posts" or "text submissions". Many discussion-based subreddits allow only text-only submissions such as "AskReddit" – where users are only allowed to pose broad, discussion based questions to the community at large. Self posts previously did not accumulate karma points for the submitter, but as of July, 2016, these text-only posts generate karma.[25] Mister Splashy Pants logo used on November 27, 2007
Reddit communities occasionally coordinate Reddit-external projects such as skewing polls on other websites, such as in 2007 when Greenpeace allowed web users to decide the name of a humpback whale it was tracking. Reddit users voted en masse to name the whale "Mr. Splashy Pants", and Reddit administrators further encouraged this by changing the site logo to a whale during the voting. In December of that year, Mister Splashy Pants was announced as the winner of the competition.[26]
Within the site, redditors commemorate their "cake day" once a year, which is the anniversary of the day the user's account was first created. The "cake day" offers no special benefit, except that a small icon representing a slice of cake appears next to that user's name for 24 hours.[27] Redditors can "friend" one another, which gives a redditor quick access to posting and comments of their friend list. The commenting system and friend system, along with a certain "Reddit ethos" (called reddiquette on Reddit), lend Reddit aspects of a social networking service, though not to the extent of Facebook, Google+, and other websites aimed at providing social networking services. The Reddit community also socializes at meetups held at local parks and bars around the world,[28] and many localized subreddits for local in-person meetings exist. Subreddits
Reddit entries are organized into areas of interest called "subreddits". Originally, the front page was the "main-reddit", and other areas were "subreddits". There is now no longer a single main-reddit. Instead, there are now 50 "default subreddits" dealing with topics such as books, television, and music, and thousands of additional non-default subreddits. The default subreddits are the 50 subreddits which are first recommended to new users to select from to appear on, or via their customizable top menu bars. All new users are initially automatically "subscribed to" the 50 default subreddits, but can then customize their "subscriptions."
Any registered user who has maintained an account for 31 days or more may create a non-default subreddit.[29] There are over 11,400 active total subreddits to peruse,[15][16][17] including the default set of 50 subreddits as of February 2016. The site has a default "Front Page" which contains staff selected popular articles, and also an "All Page" which contains only the very top ranked article/ subreddits as ranked by readers themselves, and which page is accessible via an "All" link at the top of the "Front Page."
In an interview with Memeburn, Reddit GM, Martin noted that the platform's "approach is to give the community moderators or curators as much control as possible so that they can shape and cultivate the type of communities they want".[30] IAmA and AMA
One of the most popular subreddits is IAmA ("I Am A") where a user may post "AMAs" (for "Ask Me Anything"), or similarly "AMAAs" (for "Ask Me Almost/Absolutely Anything") – prompts for others to ask questions about any topic. AMAs are open to all Reddit users, and use the site's comment system for both questions and answers; it is similar to a press conference but online. This subreddit was founded in May 2009.[31] From 2013 to 2015, Victoria Taylor assisted reddit's volunteer community in presenting interviews.[32][33][34]
A number of notable individuals have participated in the IAmA subreddit, including United States President Barack Obama[35][36] (while campaigning for the 2012 election), Dave Grohl,[37] Madonna,[38] Chris Hadfield[39] (who answered questions from the International Space Station), Bill Gates,[40] Ron Paul,[41] Stephen Colbert,[42] Psy, Enya, Arnold Schwarzenegger, Rachel Maddow, Robin Williams,[43] Renée Fleming, M. Shadows, Louis C.K., Roger Federer, Larry King, Philip Zimbardo, Bill Nye,[44] Stan Lee, John Mather, David Copperfield, Michael Moore, Spike Lee, Paul Krugman, Danny Boyle, rapper J. Cole,[45] Al Gore, Roger Ebert, Michael Bolton, Gary Johnson, Lawrence Krauss, Jill Stein, Kevin Rudd, Julie Benz,[46] Amanda Palmer,[47] Tim Ferriss,[48] Gordon Ramsay,[49] Peter Dinklage,[50] Chandra Wickramasinghe,[51] Neil deGrasse Tyson,[52] and Bernie Sanders.[53] Donald Trump (during his 2016 Presidential Campaign) had an AMA on /The Donald subreddit.[54] As of April 2015, Barack Obama's AMA is the highest rated on the site;[55] the increased traffic brought down many parts of the website when the AMA occurred on August 29, 2012.[56]
Celebrities participating in IAmAs have seen both positive and negative responses. Woody Harrelson's[57] AMA was criticized after Harrelson declined to answer questions that were unrelated to the movie Rampart he was promoting.[58] In contrast, rapper Snoop Dogg attracted 1.6 million page views[59] after conducting an AMA that provided several candid responses to the community's questions.[60]
Other than Harrelson's, Bollywood actress Priyanka Chopra's[61] AMA was criticized for evasiveness when she focused on promoting her upcoming album to the detriment of other questions. A particularly well received AMA of 2014 was that of Peter Dinklage,[62] best known for his role as Tyrion Lannister in the HBO drama series Game of Thrones. Redditors attribute the thread's success to the thoroughness of his responses and the fact that he stayed online much longer than he was expected to so he could spend more time with his fans. The actor departed by commenting:
This feels like being interviewed by a hundred thousand news anchors at once! But much friendlier anchors...who seem to know their material...I really appreciate everyone's enthusiasm and questions. I tried to move another engagement to make more time but it's really hard during shoots. I am going to try to answer a few more short ones now. And remember: If you see me on the street and want a photo, ask! It's just weird when your kid asks for directions.[63] 
On July 2, 2015, hundreds of subreddits, including several with over a million subscribers, were set to private by their respective moderators after Reddit's director of talent, Victoria Taylor, was dismissed.[64][65][66][67] Sources close to Reddit cited an increased focus on commercializing AMAs as the most likely reason.[68][69] /science File:American Chemical Society - What Chemists Do - Nathan Allen.webmPlay media Nathan Allen speaks about /science to the American Chemical Society Main article: /science
/science is an Internet forum on Reddit where the community of participants discuss science topics.[70] A popular feature of the forum is "Ask me Anything" (AMA) public discussions.[70] As of 2014, /science attracted 30,000–100,000 visitors per day, making it the largest community-managed science forum and an attractive place to host discussions.[70] April Fools subreddits The Button Main article: The Button (Reddit)
On April Fools' Day 2015, a social experiment was launched in the form of a subreddit called "thebutton". It featured a button and a 60-second countdown timer. User accounts created before that day were eligible to participate. A user could only ever click the button once, or opt not to click it. If a user clicked the button the timer was globally reset to 60 seconds,[71] and the user's "flair" (an icon next to the user's name) changed color. Colors were assigned based on a gradient from purple to red with purple signifying up to 60 seconds and red as low as 0 seconds. The countdown prematurely reached zero several times due to technical problems but eventually expired without further problems on June 5, 2015, after which the subreddit was archived.[72] Robin
On April Fools' Day 2016, a social experiment was launched in the form of a chat widget named Robin. After clicking the "Robin" button, an IRC-like chat window was initially opened with one other redditor and giving a certain time to pick between three options, "Grow," "Stay" and "Abandon".[73] "Grow" would join the chat with another group, "Stay" would close the group chat and create a subreddit with that group as moderators and "Abandon" would close the group chat and everyone goes back to a group of two. History Further information: Timeline of Reddit Co-founder Alexis Ohanian speaking in 2009
In June 2005,[74] Reddit was founded in Medford, Massachusetts by Steve Huffman and Alexis Ohanian, both 22-year-old graduates of the University of Virginia.[75] The team expanded to include Christopher Slowe in November 2005. Between November 2005 and January 2006 Reddit merged with Aaron Swartz's company Infogami, and Swartz became an equal owner of the resulting parent company, Not A Bug.[76][77] Condé Nast Publications, owner of Wired, acquired Reddit on October 31, 2006, and the team moved to San Francisco.[78] In January 2007, Swartz was fired.[79]
By the end of 2008, the team had grown to include Erik Martin, Jeremy Edberg,[80] David King,[81] and Mike Schiraldi.[82] In 2009, Huffman and Ohanian moved on to form Hipmunk, recruiting Slowe[83] and King[84] shortly thereafter. In May 2010, Reddit was named in Lead411's "2010 Hottest San Francisco Companies" list.[85] In July 2010, after explosive traffic growth, Reddit introduced Reddit Gold, offering new features for a price of $3.99/month or $29.99/year.[86] Reddit Gold adds a number of features to the interface, including the ability to display more comments on a page, access to the private "lounge" subreddit, and notifications whenever one's username is mentioned in a comment. It's also possible to endow comments or submissions of other users and thereby give a gold membership to them as an anonymous present.[87]
On September 6, 2011, Reddit became operationally independent of Condé Nast, now operating as a separate subsidiary of its parent company, Advance Publications.[88] On January 11, 2012, Reddit announced that it would be participating in a 12-hour sitewide blackout in protest of the Stop Online Piracy Act.[89] The blackout occurred on January 18 and coincided with the blackouts of Wikipedia and several other websites. In May 2012, Reddit joined the Internet Defense League, a group formed to organize future protests.[90] On February 14, 2013, Reddit began accepting the digital currency bitcoin for its Reddit Gold subscription service through a partnership with bitcoin payment processor Coinbase.[91]
In October 2014, Reddit announced Redditmade, a service which allowed moderators to create merchandise for their subreddits. Redditmade closed in February 2015.[92] In November 2014, Chief Executive Yishan Wong resigned and co-founder Ohanian returned as the full-time executive chairman. Ellen Pao, Reddit's business and partnerships strategist became the interim chief executive.[93] On July 10, 2015, Pao resigned and was replaced by Steve Huffman as CEO.[94][95]
In October 2015, Reddit announced a news portal called Upvoted, designed to broaden the reach of Reddit as a standalone site featuring editorial content from Reddit users.[96] In April 2016, Reddit launched a new blocking tool in an attempt to curb online harassment. The tool allows a user to hide posts and comments from selected redditors in addition to blocking private messages from those redditors.[97] The option to block a redditor is done by clicking a button in the inbox. Technology
Reddit was originally written in Common Lisp but was rewritten in Python in December 2005.[4] The reasons given for the switch were wider access to code libraries and greater development flexibility. The Python web framework that former Reddit employee Swartz developed to run the site, web.py, is now available as an open-source project.[98] On June 18, 2008, Reddit became an open source project.[99] With the exception of the anti-spam/cheating portions, all of the code and libraries written for Reddit became freely available on GitHub.[100] As of November 10, 2009, Reddit uses Pylons as its web framework.[101]
As of November 10, 2009, Reddit has decommissioned their physical servers and migrated to Amazon Web Services.[102] Reddit uses PostgreSQL as their primary datastore and is slowly moving to Apache Cassandra, a column-oriented datastore. It uses RabbitMQ for offline processing, HAProxy for load balancing and memcached for caching. In early 2009, Reddit started using jQuery.[103] On June 7, 2010, Reddit staff launched a revamped mobile interface featuring rewritten CSS, a new color scheme, and a multitude of improvements.[104]
On July 21, 2010, Reddit outsourced the Reddit search engine to Flaptor, who used its search product IndexTank.[105] As of July 12, 2012, Reddit uses Amazon CloudSearch.[106] There are several unofficial applications that use the Reddit API in the Google Play store, and F-Droid repository. Examples include: Reddit is Fun,[107] Andreddit,[108] F5, BaconReader,[109] Reddit Sync[110] and an Android tablet specific application called Reddita.[111] There are also several Windows apps used to access Reddit, including unofficial Reddit apps such as ReddHub[112] and Reddit To Go!.[113] An unofficial desktop application Reditr[114] exists that is compatible with Windows, OS X, Linux and ChromeOS.
There are several Reddit applications for iOS. These include Karma, Upvote, iReddit, iPad-specific applications such as Reddzine and Biscuit, and, until April 2016, Alien Blue.[115] In September 2014, an official mobile application for browsing AMA (Ask Me Anything) threads was released for the iOS and Android platforms under the name Ask me Anything.[116] In October 2014, Alien Blue was acquired by Reddit and became the official iOS Reddit app.[117] In April 2016, Reddit released an official application called Reddit: The Official App, which is available on Google Play and the iOS App Store, and Alien Blue was removed from the App Store in favor of the new app.[118] Demographics
According to Reddit's Audience and Demographics page, as of December 2015, 53% of redditors are male and 54% are from the United States.[119] In 2013, Pewinternet stated that 6% of all American adult Internet users have used Reddit; that males were twice as likely to be redditors as females were; and that Reddit's largest age bracket was between the ages of 18 and 29.[120] As of the end of 2016, Reddit is the only major social media platform that does not have a female majority user base.[121] Community and culture
The website is known for its open nature and diverse user community that generate its content.[122] Its demographics allows for wide-ranging subject areas, or main subreddits, that receive much attention, as well as the ability for smaller subreddits to serve more niche purposes. For example, the University of Reddit, a subreddit that exists to communally teach, emerged from the ability to enter and leave the online forum, the "classroom", at will, and classes ranging from computer science to music, to fine art theory exist.[123] The unique possibilities that subreddits provide create new opportunities for raising attention and fostering discussion across many areas. In gaining popularity in terms of unique users per day, Reddit has been a platform for many to raise publicity for a number of causes. And with that increased ability to garner attention and a large audience, users can use one of the largest communities on the Internet for new, revolutionary, and influential purposes.[124]
Its popularity has enabled users to take unprecedented advantage of such a large community. Its innovative socially ranked rating and sorting system drives a method that is useful for fulfilling certain goals of viewership or simply finding answers to interesting questions. User sentiments about the website's function and structure include feelings about the breadth and depth of the discussions on Reddit and how the site makes it easy to discover new and interesting items. Almost all of the user reviews on Alexa.com, which rates Reddit's monthly unique traffic rating 125th in the United States, mention Reddit's "good content" as a likable quality. However, others raise the negative aspects of the potential for Reddit's communities to possess a "hive mind" of sorts,[125] embodying some negative aspects of group interaction theories like crowd psychology and collective consciousness. Philanthropic efforts
Reddit has been known as the instigator of several charity projects, some short and others long-term, in order to benefit others. A selection of major events are outlined below:
In early October 2010, a story was posted on Reddit about a seven-year-old girl, Kathleen Edward, who was in the advanced stages of Huntington's disease. The girl's neighbors were taunting her and her family. Redditors banded together and gave the girl a shopping spree[126][127] at Tree Town Toys, a toy store local to the story owned by a Reddit user. In early December 2010, members of the Christianity subreddit decided to hold a fundraiser[128] and later members of the atheism subreddit decided to give some friendly competition,[129] cross-promoting[130] fundraising drives for Doctors Without Borders and World Vision's Clean Water Fund, respectively. Later, the Islam subreddit joined in, raising money for Islamic Relief. In less than a week, the three communities (as well as the Reddit community at large) raised over $50,000.[131] Most of this was raised by the atheism subreddit, though the smaller Christianity subreddit had a higher average donation amount per subscriber.[132] A similar donation drive in 2011 saw the atheism subreddit raise over $200,000 for charity.[133] Reddit started the largest Secret Santa program in the world, which is still in operation to date. For the 2010 Holiday season, 92 countries were involved in the Secret Santa program. There were 17,543 participants, and $662,907.60 was collectively spent on gift purchases and shipping costs.[134][135][136] In 2014, about 200,000 users from 188 countries participated.[137] Several celebrities have participated in the program, including Bill Gates[138] and Snoop Dogg.[139] Eventually, the Secret Santa program expanded to various other occasions through Redditgifts. Members from Reddit donated over $600,000 to DonorsChoose in support of Stephen Colbert's March to Keep Fear Alive. The donation spree broke previous records for the most money donated to a single cause by the Reddit community and resulted in an interview with Colbert on Reddit.[140] Reddit users donated $185,356 to Direct Relief for Haiti after an earthquake devastated the nation in January 2010.[141] Reddit users donated over $70,000 to the Faraja Orphanage in the first 24 hours to help secure the orphanage after intruders robbed and attacked one of the volunteers, who survived a strike to the head from a machete.[142] In October 2012, "Shitty Watercolour", a popular Redditor known for posting watercolor paintings on the website,[143][144][145] streamed live a 12-hour painting session on YouTube to raise money for charity: water, a non-profit organization which aims to provide potable drinking water in developing countries. Redditors donated a minimum of $10 to have a photo of their choice painted in a 5 by 5 centimetres (2.0 by 2.0 in) square section of large sheets of paper.[146][147] The paint-a-thon raised $2,700.[148] In February 2014, Reddit announced it would be donating 10% of its annual ad revenue to non-profits voted upon by its users.[149] Reddit continued this policy for 2015, donating $82,765 each to Electronic Frontier Foundation, Planned Parenthood Federation of America, Doctors Without Borders, Erowid Center, Wikimedia Foundation, Multidisciplinary Association for Psychedelic Studies, NPR, Free Software Foundation, Freedom From Religion Foundation, and Tor Project.[150] In response to the 2015 Nepal earthquake, redditors raised more than $145,000 for Direct Relief and more than $110,000 for MAP International.[151] 
Commercial activity
In February 2013, Betabeat published a post that recognized the influx of multi-national corporations like Costco, Taco Bell, Subaru, and McDonald's posting branded content on Reddit that was made to appear as if it was original content from legitimate Reddit users.[152] Reddit's former Director of Communications noted that while a large number of Chief Marketing Officers want to "infiltrate the reddit community on behalf of their brand," she emphasized that "self-promotion is frowned upon" and the site is "100 percent organic."[153][154][155][156] She recommended that advertisers design promotions that "spark conversations and feedback."[157] She recommended that businesses use AMAs to get attention for public figures but cautioned "It is important to approach AMAs carefully and be aware that this may not be a fit for every project or client."[158] Nissan ran a successful Branded content promotion offering users free gifts to publicize a new car,[159][160] though the company was later ridiculed for suspected astroturfing when the CEO only answered puff piece questions on the site.[161][162] Taylor described these situations as "high risk" noting "We try hard to educate people that they have to treat questions that may seem irreverent or out of left field the same as they would questions about the specific project they are promoting."[163]
Reddit's users are more privacy-conscious than on other websites, using tools like AdBlock and proxies,[164] and they hate "feeling manipulated by brands" but respond well to "content that begs for intelligent viewers and participants."[165] Lauren Orsini writes in ReadWrite that "Reddit's huge community is the perfect hype machine for promoting a new movie, a product release, or a lagging political campaign" but "very specific set of etiquette. Redditors don't want to advertise for you, they want to talk to you."[166] Journalists have used the site as a basis for stories, though they are advised by the site's policies to respect that "reddit's communities belong to their members" and to seek proper attribution for people's contributions.[167]
Reddit announced that they would begin using VigLink to redirect affiliate links in June 2016.[168] Reddit effect Main article: Slashdot effect
Also known as the "Slashdot effect", the Reddit effect occurs when a smaller website has a high influx of traffic after being linked to on Reddit.[169] It is also called the "Reddit Hug of Death" among the website's users. Because Reddit is such a large site, the traffic is immense and can easily crash smaller sites. In order for users to see crashed websites, several Reddit bots have been created that take a snapshot of the website before large amounts of traffic flood the affected website. "Restoring Truthiness" campaign
As a response to Glenn Beck's August 28, 2010, Restoring Honor rally (heavily promoted by him in his Fox News broadcasts during the summer), in September 2010 Reddit users started a movement to persuade satirist Stephen Colbert to have a counter-rally in Washington, D.C.[170] The movement, which came to be called "Restoring Truthiness", was started by user mrsammercer, in a post where he described waking up from a dream in which Stephen Colbert was holding a satirical rally in D.C.[171] He writes, "This would be the high water mark of American satire. Half a million people pretending to suspend all rational thought in unison. Perfect harmony. It'll feel like San Francisco in the late 60s, only we won't be able to get any acid."
The idea resonated with the Reddit community, which launched a campaign to bring the event to life. Over $600,000[172] was raised for charity to gain the attention of Colbert. The campaign was mentioned on-air several times, and when the Rally to Restore Sanity and/or Fear was held in Washington, D.C. on October 30, 2010, thousands of redditors made the journey.[173]
During a post-rally press conference, Reddit co-founder Ohanian asked, "What role did the Internet campaign play in convincing you to hold this rally?" Jon Stewart responded by saying that, though it was a very nice gesture, the two had already thought of the idea prior and the deposit on using the National Mall was already paid during the summer, so it acted mostly as a "validation of what we were thinking about attempting".[174] In a message to the Reddit community, Colbert later added, "I have no doubt that your efforts to organize and the joy you clearly brought to your part of the story contributed greatly to the turnout and success."[175] Controversies See also: Controversial Reddit communities and Michael Brutsch
The website generally lets moderators on individual subreddits make editorial decisions about what content to allow, and has a history of permitting some subreddits dedicated to controversial content.[176] Many of the default pages are highly moderated, with the "science" subreddit banning climate change denialism,[177] and the "news" subreddit banning opinion pieces and columns.[178] Reddit has changed its site-wide editorial policies several times, sometimes in reaction to controversies.[179][180][181][182] Reddit has had a history of giving a platform to objectionable but legal content, and in 2011, news media covered the way that jailbait was being shared on the site before the site changed their policies to explicitly ban "suggestive or sexual content featuring minors".[183] Following some controversial incidents of Internet vigilantism, Reddit introduced a strict rule against the publication of non-public personally-identifying information via the site (colloquially known as doxxing). Those who break the rule are subject to a site-wide ban, and their posts and even entire communities may be removed for breaking the rule. 2010
On December 16, 2010, a redditor named Matt posted a link describing how he has donated a kidney, and included a JustGive link to encourage users to give donations to the American Cancer Society.[184] After an initially positive reaction, Reddit users began to become suspicious of Matt's intentions, and suggested that he was keeping the donations for himself. Users telephoned his home and he received death threats. Matt eventually proved that he was genuine by uploading his doctor's records.[185] 2011
On October 18, 2011, an IT manager submitted a post to the subreddit "gameswap" offering Redditors to trade one of 312 codes he had been given for the game Deus Ex: Human Revolution.[186] A group of users obtained his personal details, and began to blackmail him for the codes.[187] The Monday after uploading the post, he received 138 threatening phone calls both at home and at his job, and by the end of the day he had been fired.[188] 2013
Following the 2013 Boston Marathon bombings, Reddit faced criticism after users wrongly identified a number of people as suspects.[189] Notable among misidentified bombing suspects was Sunil Tripathi, a student reported missing before the bombings took place. A body reported to be Sunil's was found in Providence River in Rhode Island on April 25, 2013, according to Rhode Island Health Department. The cause of death was not immediately known, but authorities said they did not suspect foul play.[190] The family later confirmed Tripathi's death was a result of suicide.[191] Reddit general manager Martin later issued an apology for this behavior, criticizing the "online witch hunts and dangerous speculation" that took place on the website.[192] The incident was later referenced in the season 5 episode of the CBS TV series The Good Wife titled "Whack-a-Mole,"[193] as well as The Newsroom.[194][195]
In late October 2013, the moderators of the "politics" subreddit banned a large group of websites. Many were left wing opinion websites, such as Mother Jones, The Huffington Post, Salon, Alternet, Rawstory, The Daily Kos, Truthout, Media Matters, and ThinkProgress as well as some popular progressive blog sites, such as Democratic Underground and Crooks and Liars. They also banned a number of right wing sites—Drudge Report, Breitbart, The Daily Caller, Dailypaul, Power Line, and Reason. Salon reported that "the section's moderators explained in a post on Tuesday, the goal is 'to reduce the number of blogspam submissions and sensationalist titles.' The purge, the moderators explained, is also aimed at sites that provide lots of "bad journalism."[196] The December 2013 list of banned websites has been modified since late October, and sites with original content, such as Mother Jones and The Huffington Post, are allowed.[197] Moderators also banned RT, which moderators stated was due to vote manipulation and spam, though one moderator stated that he wanted RT banned because it is Kremlin backed.[198][199] 2014
In August 2014, photos from the 2014 celebrity photo hack were widely disseminated across the site.[200][201] A dedicated subreddit, "TheFappening," was created for this purpose,[202] and contained links to most if not all of the criminally obtained explicit images.[203][204][205][206][207] Some images of Liz Lee and McKayla Maroney from the leak were identified by redditors and outside commentators as child pornography because the photos were taken when the women were underage.[208] The subreddit was banned on September 6.[209] The scandal led to wider criticisms concerning the website's administration from The Verge and The Daily Dot.[210][211]
Also in August 2014, moderators and administrators censored a sizeable amount of content related to the GamerGate controversy; one thread in the "gaming" subreddit had almost 24,000 comments removed.[212] Multiple subreddits were deleted by administrators for voicing opinions on Zoe Quinn, Anita Sarkeesian, Brianna Wu and similarly important GamerGate controversy figures.[213] The subreddit "ZoeQuinnDiscussion" was banned for violating the Reddit rules.[214] Administrators defended this response when questioned, blaming 4chan for raiding threads and causing harm. This was debated by some redditors.[215] An anonymous subreddit moderator claims he was removed for leaking correspondence between himself and Zoe Quinn.[216] On December 18, 2014, Reddit took the unusual step of banning a subreddit, "SonyGOP," that was being used to distribute hacked Sony files.[217] 2015
After Ellen Pao became CEO, she was initially a target of criticism by users who objected to her lawsuit.[218] Later on June 10, 2015, Reddit shut down the 150,000-subscriber "fatpeoplehate" subreddit and four others citing issues related to harassment.[219] This move was seen as very controversial; some commenters said that the bans went too far, while others said that the bans did not go far enough.[220] One of the latter complaints concerned a subreddit that was "expressing support" for the perpetrator of the Charleston church shooting.[221] Responding to the accusations of "skewed enforcement", Reddit reaffirmed their commitment to free expression and stated that "There are some subreddits with very little viewership that get highlighted repeatedly for their content, but those are a tiny fraction of the content on the site."
On July 2, 2015, Reddit began experiencing a series of blackouts as moderators set popular subreddit communities to private, in an event dubbed "AMAgeddon," a portmanteau of AMA ("ask me anything") and Armageddon. This was done in protest of the recent firing of Victoria Taylor, an administrator who helped organize citizen-led interviews with famous people on the popular "Ask me Anything" subreddit. Organizers of the blackout also expressed resentment about the recent severance of the communication between Reddit and the moderators of subreddits.[222] The blackout intensified on July 3 when former community manager David Croach gave an AMA about being fired. Before deleting his posts, he stated that Ellen Pao dismissed him with one year of health coverage when he had cancer and did not recover quickly enough.[223][224] Following this, a Change.org petition to remove Pao as CEO of Reddit Inc. reached over 200,000 signatures.[225][226][227] Pao posted a response on July 3 as well as an extended version of it on July 6 in which she apologized for bad communication and not delivering on promises. She also apologized on behalf of the other administrators and noted that problems already existed over the past several years.[228][229][230][231] On July 10, Pao resigned as CEO and was replaced by former CEO and co-founder Steve Huffman.[94][232]
submitted by ViabilityTest to test [link] [comments]

AGE-FRAUD IN YOUTH SOCCER – THE BLOCKCHAIN TO FIFA’S RESCUE?

The purpose of youth soccer is to unearth young and budding talents to be groomed for, arguably, the most glamorous sport in the world, but it does seem that it is rather adults that are being fished out. At the last U-17 Youth Tournament in Niger, Ghana was absent. She was disqualified for fielding an over-aged player following a protest lodged by Cameroon. Ghana is not alone in this. In 1989, Nigeria’s national youth team was given a two-year ban for fielding over-aged players in FIFA organised youth tournaments. In addition, Nigeria was refused the rights to host the 1991 FIFA World Youth Tournament. A third-year university student from Port Elizabeth in South Africa was fished out after he had captained an Under-15 South African team to play in a tournament in France. Kenya, DPR Korea, Taijikistan, Iraq, Cambodia, Macau, Bangladesh, Bhutan, Kyrgyzstan, Yemen, Mexico, are all countries that have, at one time, been fished out for fielding over-aged players or have dissolved their own national youth team for the same reason. In most parts of the world, youth tournaments are seen as a launchpad into the glamorous world of international football. Qualifying, therefore, to play in a youth tournament opens doors for players, expecially in less developed countries. A player will deliberately falsify his age in order to squeeze himself into the national youth team. Aside that, European scouts are unlikely to recruit a player who is, say, 23 years for a European side. They prefer a 17 year old or below so that there would be enough time for player development. Age-cheating has been a problem for FIFA. In 2009, FIFA introduced the Magnetic Resonance Imaging (MRI) for the FIFA Under-17 World Cup to confirm player age. Some nations and individuals were caught in the process. How does the MRI scan work? Every bone in the human arm and leg has an end plate from which the bones grow. This is the plate the MRI looks out for. Its presence shows that the subject is 17 years or below. When growth is complete, usually around age 17-18, this end plate disappears on the MRI scan. Though the MRI scan is fishing out adults parading themselves as children, it has its own drawbacks. Firstly, it is about 99% accurate so it cannot be sure on 1% of people scanned. Again, beyond age 17, it becomes more difficult to medically and professionally calculate a player’s age. This is where the blockchain comes in. The blockchain was developed by Satoshi Nagamoto and launched in 2009. It is primarily, a record of digital events that are “distributed” or shared between many parties. It can only be updated by the consensus of majority of participants in the system. Once an information is entered, it can never be erased. It is a record- keeping system that looks like a big online ledger, keeping track of every event. The blockchain has a certain and a verifiable record of every transaction that would ever be made and confirmed to have been made. Marc Andreessen, the doyen of Silicon Valley’s venture capitalists concedes that since the internet, the blockchain’s distributed consensus is the most important invention. The blockchain has the highest inbuilt auditability mechanism currently available. Can the blockchain rescue FIFA and plug every loophole that has so far been exploited by players and their handlers? The adoption of the blockchain by FIFA for player age-auditing can prove to be FIFA’s saviour on age related soccer tournaments and subsequently for the documentation of every soccer player in the world. It means, every essential information about a player is entered into a blockchain. Once a consensus is reached, according to majority of participants in the blockchain, that information is locked, confirmed and cannot be erased anymore. How can this be done? FIFA must get a group of experts on the subject together. The blockchain is open-source software, available to all. FIFA must tell the experts what it wants. For example, FIFA wants to be able to verify the age of players who come to tournaments. In fact, whatever FIFA wants can be set into the blockchain, verifiable across the world. There may be a problem with credibility of entries. How sure are we that the information being entered into the block is correct? The experts should know what to do. The inputs needed to make verification of dates of birth possible can be incorporated into the blockchain. A little tweak here and there and age fraud will be a thing of the past. The blockchain can be likened to a cake and cryptocurrency can be likened to the icing. In addition to the blockchain, FIFA can adopt an accompanying cryptocurrency, a coin already in existence. There are a few that are already highly priced, those can be avoided. A coin like Dogecoin can be adopted. It is inexpensive. works like bitcoin because it is based on the same code base as bitcoin. One can get Dogecoin at many cryto currency exchangers websites etc. Even individuals in the sports fraternity, like sports journalists, sports administrators, sponsors, supporters and players may buy Dogecoin as a store of value. It can be used for crowd-funding, for sports projects and football club monthly dues. Funs can use it to tip their favourite players. Africans who follow European football can tip their favourite players a few Dogecoin. The BBC can use it as an option for people who want to vote for the BBC African footballer of the year. Dogecoin can be converted into cash . If one just wants to experiment with the concept, pls visit http://dogecoin.com/ for more information. FIFA must not ignore the blockchain or the cryptocurrency (Dogecoin). They both have a lot of benefits in store for players, officials, journalists, player agents, scouts, etc.
submitted by virtapaga to dogecoin [link] [comments]

Big news - more funding from Netscape founder to Bitcoin and related stuff

Might be why BTC and LTC prices are going up.
Edit: Link is: http://finance.yahoo.com/blogs/daily-tickedoes-bitcoin-have-a-future--marc-andreessen-thinks-so-141613056.html
submitted by TequilaMckngbrd to vertcoin [link] [comments]

A Non-technical Bitcoin Primer (Part 2)

This is a continuation of Part 1.
PSEUDONYMITY Unlike credit card transactions, in which you give your name, Bitcoin transactions are pseudonymous (a pseudonym being an identifier other than your real name). Instead of having your name on your account, you have a public key, which is just a sequence of letters and numbers, like the one below.
3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy
That's your pseudonym.
People who are concerned with privacy view this as an advantage, since it enables you to make payments without revealing your identity.
Critics worry that this system facilitates crime, and proponents counter that cash is much better for criminals. Why?
Your account may be represented by some random sequence, instead of your name, but all Bitcoin transactions that have ever occurred are available for scrutiny on a public ledger called the blockchain. This data opens up the possibility of investigative methods to which cash is not susceptible.
Also, those who are concerned about criminals may be missing the point. It's sort of like censors in the mid-twentieth century who hadn't conceived of the World Wide Web (preventing kids from being exposed to profanity these days is a bit more difficult, to say the least).
The thing they're missing is that Bitcoin is only one of many cryptocurrencies, and others (such as zerocoin) are being developed that will provide much greater privacy.
File sharing on the internet is another example of how those seeking to overregulate Bitcoin might be missing the point. Early on, we had Napster, which was shut down due to concerns over copyright infringement. The effect of this shutdown appears to have been essentially the opposite of the intended effect. Instead of stopping illegal file sharing, it accelerated the development of file-sharing technologies that were even more difficult to stop. Since demand still existed, Kazaa came to the fore, and now we have BitTorrent.
It's "hard to put the genie back in the bottle," as Ben Lawsky, New York's Superintendent of Financial Services, has pointed out. When it comes to reducing crime, overregulation of Bitcoin could lead to an increased resistance to law-enforcement efforts, as we saw with file-sharing, while at the same time taking away from its many benefits.
THREATS TO BITCOIN'S SUCCESS When evaluating Bitcoin's chances for success or trying to understand price fluctuations, it's important to keep several key issues in mind.
ADOPTION Both merchant and consumer adoption are important, and both have been growing.
On the merchant side, we now have large reputable companies accepting Bitcoin, such as Overstock.com, Expedia, and Dish Network. See, for example, the list of companies working with Coinbase.
On the consumer side, one way to track growth is to look at the number of bitcoin wallets (wallets are to Bitcoin what accounts are to the traditional banking system). This number has also been growing steadily.
The website http://www.bitcoinpulse.com/ is one place to track such things.
Another interesting thing to watch will be the MIT Bitcoin Giveaway, in which $100 in bitcoins will be given to every MIT undergraduate in the fall 2014 semester.
ROBUSTNESS OF THE TECHNOLOGY One possible threat is that some kind of bug or design flaw will cause the system to crash. The technology has been around since 2009, and Bitcoin has been resilient so far. For example, it survived a distributed denial of service attack early this year.
There are a number of design issues to consider, such as scalability, mining centralization, and so forth, but there are a lot of people working on these issues. In fact, Bitcoin is considered by some to be supported by the largest research and development community in the world. Something like 10,000 of the smartest people in the world are working on issues such as scalability and user-friendliness.
COMPETING TECHNOLOGIES There is a chance that another technology that is superior to Bitcoin will emerge to kill it. At present, however, Bitcoin is the clear leader among cryptocurrencies, and it becomes more difficult to overtake as time passes, due to the network effect.
Already, Bitcoin is supported by a massive amount of infrastructure, in the form of mining equipment, exchanges, startup companies backed by venture capitalists like Andreessen Horowitz, software applications, and so forth.
REGULATION There is some chance that governments could slow the growth of the Bitcoin economy, for example by issuing regulations that make it difficult for exchanges to operate.
Regulations in China led to a sharp decrease in the price for a time. Many governments have reacted more favorably. In the U.S., the regulatory outlook has been improving. We've seen increased clarity from the IRS and are expecting favorable regulations to come out of New York sometime this month, which may make it easier for exchanges to get established in New York. This could lead to more liquidity and would reduce the risk of shock from one exchange going down.
Moreover, the U.S. just sold about 18 million dollars' worth of seized bitcoins in an auction, which provides additional legitimacy to the currency.
A FINAL NOTE: SOCIAL AND POLITICAL RAMIFICATIONS For better or worse, one thing large-scale technologies seem to have in common is their unpredictability. Who would have predicted that a social media platform called Twitter with a cute little bird logo would end up facilitating political revolutions throughout the Arab world?
FURTHER RESOURCES This article by Marc Andreessen gives a good overview.
A nice way to get started is also to just check out bitcoin regularly. The users here range from noobs to developers and Bitcoin entrepreneurs. So, you’ll see more technical talk and in depth discussion than you see in typical media stories, and you can ask if you don’t understand.
You can also try the Bitcoin 101 Blackboard Series, which I hear is quite good.
For a quick video on the technical aspects of Bitcoin, you can try the video Bitcoin Under the Hood or the shorter, less technical version of this video.
For another explanation of the technical underpinnings, you might try the Khan Academy videos.
If you're looking to purchase your first bitcoin, then depending on where in the world you live, you might consider getting started with Coinbase. It's reputable and very easy to use. Many people will advise you not to store your coins on a web wallet, but buying a few coins (or a fraction of a coin) on Coinbase is a good way to start as a beginner. Please be aware, though, that this is a new industry and purchasing Bitcoin in any form carries risk, so do your research. I wouldn't want to be the one recommending Coinbase just before someone manages to hack it!
I hope that helps!
Edit: formatting and typos; added quote from Ben Lawsky.
submitted by 11251442132 to Bitcoin [link] [comments]

How Bitcoin Can and Will Disrupt the Financial System

Via Visual Capitalist:
The mainstream adoption of bitcoin has started to snowball and many financial institutions have taken note. In fact, the influence of bitcoin is so strong that a senior Central Bank of Ireland official has gone on record to state that, “virtual and digital currencies can challenge the sovereignty of states.” Equally as impressive, last month Google and Yahoo added the price of Bitcoin to their finance networks.
That said, what we have seen thus far is likely just the tip of the iceberg. Many VCs, including Marc Andreessen, believe the future of the blockchain and cryptocurrency to be extremely bright. Bitcoin and altcoins are empowering users by eliminating, or minimizing, many financial intermediaries. This has the potential to be a massive disruption and opportunity.
Bitcoin is P2P, decentralized, and open source. Hundreds of startups and entrepreneurs are finding new ways to build upon Bitcoin and blockchain technology to create financial service possibilities ranging from escrow to bitcoin based loans. This tech is even being applied to voting, music distribution, and DNS services.
Worldwide, bitcoin is now accepted by over 100,000 merchants with transactions averaging the equivalent of $78 million per day. While that is only a fraction of credit card transaction volume, some would say that is why it still such a great opportunity for speculation.
submitted by sbasra to Bitcoin [link] [comments]

Legal issues with accepting bitcoin legal blog post. Any additions/corrections?

Hey guys, about to post this to the legal blog on lawkick.com. You guys have any additions/corrections? Feedback welcome as well.
The Bitcoin Rundown Bitcoin continues to capture the attention of venture capitalists, retail businesses, government regulators, the media, and politicians over five years after its inception. Despite the recent shutdown of Mt. Gox (formerly the largest Bitcoin exchange), and subsequent drop in the Bitcoin exchange rate, the crypto-currency is still growing in acceptance and use. More and more businesses are starting to accept them in-lieu of traditional currency, and the United States is starting to issue regulations and guidelines concerning their use as a currency. However, many legal issues lurking behind crypto-currencies remain, and untangling them is still a work in progress. This article will cover the basics of Bitcoin, where it is today, and then turn to the legal issues surrounding its use.
Bitcoin Basics So what do we know? Bitcoin is the most popular of a number of virtual crypto-currencies, a form of money with no physical presence. Owners of Bitcoins can sell them for traditional currency to other users, through online exchanges. Bitcoins can also be used in some stores or websites in exchange for goods and services, and some technologists accept them directly in exchange for services like web design and development. Today, Bitcoin is the target of venture capital investment, criticism, praise, and confusion. Marc Andreessen, a software engineer turned venture capitalist in the technology space, has invested over $50 million in Bitcoin start-ups, and he’s not alone. Some estimate the total capital investment in the Bitcoin space will reach $300 million by the end of 2014. Moreover, companies already accepting Bitcoin include Overstock.com, Virgin Galactic, Wordpress, Reddit, Zynga, Tigerdirect, Stripe merchants, and at least one Tesla dealer. Law firms are starting to get in on the action too, as a firm in Houston and Illinois started accepting Bitcoins as payment last year.
Legality of Accepting Bitcoin and Taxes With all this interest brewing, it’s about time the legal issues surrounding Bitcoin’s use are cleared up. Foremost, is accepting Bitcoins as payment legal? It is, provided one follows the new guidelines provided by the IRS for tax purposes. As of March 2014, the IRS classifies Bitcoin and other virtual currencies as property, rather than currency, and transactions over $600 are taxed the same way the agency treats property transactions. This includes payments, gains realized from investing in Bitcoins, and income derived from producing the Bitcoins (known as “mining”). The Bitcoins must be valued at their “fair market value,” according to the IRS, which can be based on the going prices at the online exchanges. This can be problematic, as Bitcoin prices fluctuate daily, and sometimes for significant percentages. Additionally, if used as payments to employees or contractors, it must be listed on their W-2 or 1099 forms. These payments are subject to the same information reporting that any property payment is.
Specific Problem for Lawyers Accepting Bitcoin Bitcoins fluctuation in price can be problematic for any company, but pose a special challenge for lawyers. On one end of the spectrum, a price drop can leave the lawyer working for almost nothing, but the biggest problem is on the other end of the spectrum. A price increase could cause the lawyer’s rate to become “unconscionable,” a violation of their ethical duty as a lawyer to avoid charging excessive fees. Such a rate is unable to be retained if the client sues, and may even expose the lawyer to sanction liability.
The Bitcoin Refund Issue For merchandisers especially, Bitcoin also presents an issue for returns and exchanges. Say someone purchases one Bitcoin worth of stuff when the spot price is $600, but later decides to return it, or the product is defective. If the value of a Bitcoin increased to $700 or decreased to $500, one of the parties is going to lose out. In fact, if the price of a Bitcoin increases, it creates a moral hazard by incentivizing the customer to return the product for the Bitcoin. Overstock.com has chosen to solve this issue by offering in-store credit for returns, and places the risk of currency fluctuation on the customer by limiting that credit to the exchange rate at time of purchase.
Conclusion Today, accepting Bitcoin as payment is still tricky. Before doing so, I suggest finding a lawyer to ensure your business complies with federal, state, and local laws. Lawkick can be your essential tool for finding the right lawyer for your needs.
submitted by SilentGaucho to CryptoCurrency [link] [comments]

Marc Andreesen Bitcoin OCM Summit Bitcoin Fireside Chat with Marc Andreessen and Balaji ... Marc Andreessen: Apple Pay Is Freaking Out Financial Services PandoMonthly: Marc Andresseen is excited about bitcoin. So why hasn't he made a big bet yet? Bitcoin In Their Own Words: Marc Andreessen

— Marc Andreessen. Home; Portfolio; Briefings; Team; Contact; LPs; Archive. Tag Archives: Bitcoin Why Bitcoin Matters. By pmarca. January 22, 2014. Business, Economics. Leave a comment. A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers. Political idealists project visions ... Marc Andreessen talks bitcoin, Apple Pay and the problems they face at the Dreamforce 2014 conference in San Francisco. NOTE: Our firm Andreessen Horowitz, has invested just under $50 million in Bitcoin-related start-ups. The firm is actively searching for more Bitcoin-based investment opportunities. I personally own no more than a de minimis amount of Bitcoin. This post originally appeared in The New York Times. Marc Andreessen Born Marc Lowell Andreessen July 9, 1971 (age 43) Cedar Falls, Iowa Alma mater University of Illinois at Urbana-Champaign Known for Mosaic, founder of Netscape, Venture capitalist Net worth US$ 700 Million (est. 2014) Marc Lowell Andreessen (/ænˈdriːsən/ an-dree-sən; born July 9, 1971) is an American entrepreneur, investor, and software engineer. Marc Andreessen, one of the internet’s foremost entrepreneurs and investors, has recently doubled-down on his pro-Bitcoin sentiment, divulging that cryptocurrency is a “fundamentally new and very important concept.” This notable nod of acceptance from such a luminary indicates that this budding industry continues to pick up steam, even whilst the crypto market continues its tightrope ...

[index] [34529] [28774] [5896] [14647] [33019] [6376] [27814] [50039] [9095] [16317]

Marc Andreesen Bitcoin OCM Summit

Oct. 16 (Bloomberg) -- Andreessen Horowitz Co-Founder Marc Andreessen discusses Apple, Bitcoin, Apple Pay, Apple TV, and Tim Cook. He speaks with “Bloomberg West” Host Emily Chang at ... Marc Andreessen on the good and bad of investing in bitcoin startups Learn more at www.coinsumm.it Fireside chat with Marc Andreessen and Balaji Srinivasan, Andreessen Horowitz Moderated by Kashmir Hill, Forbes I like Bitcoin and a16z so I put together all 25 of @pmarca's tweets from his BTC storm January 5th 2015. See more at http://steveiq.com/ Enjoy. And it's the technology of Bitcoin that has all the smartest people in the room so excited - people like Peter Theil, Tim Berners Lee, Eric Schmidt and Marc Andreessen. What will I learn in One ...

#