While if you are thinking to upgrade or renew the RedditGold membership by making payments in bitcoin, it is no more possible. As per the latest reports, Reddit is no more accepting bitcoin payments for its premium membership program. However, it is unclear at this point whether the service has been temporarily disabled or whether it is a permanent decision to suspend bitcoin payments.
Things came to light when one of the Reddit users noticed that he was unable to make bitcoin payment in order to gift the Reddit Gold subscription. On Friday, many users started commenting on the /r/BTC wherein they talked that the only available payment options, for now, are PayPal and Credit Cards.
Five years back in February 2013, Reddit started accepting bitcoin payments in a partnership with Coinbase. At that time, bitcoin was trading at less than $25 and Coinbase used to process $1 million worth trades in a month’s time. Reddit staff engineer Brian Simpson then commented saying: “We’ve gotten some requests for additional payment methods so hopefully this brings us closer to reaching everyone who wants to buy gold.”
The Reddit administrator “” has confirmed this withdrawal saying that the latest change was due after the Coinbase’s decision to discontinue the Merchant Tool product in favor of Coinbase Commerce which allows “merchants to accept multiple cryptocurrencies directly into a user-controlled wallet.”
The admin said: “The upcoming Coinbase change, combined with some bugs around the bitcoin payment option that were affecting purchases for certain users, led us to remove bitcoin as a payment option.”
Coinbase Commerce that was launched last month brings a significant upgrade for merchants and it requires them to completely move to a new system, however, has not been much accepted by some businesses who see low volumes of cryptocurrency payments.
In one of the other comments, the admin noted that the Reddit platform might not consider it necessary enough to bring back the bitcoin payment option to its platform even though any other payment processing platform apart from Coinbase. However, he said that company will likely wait before making any decision to re-enable it. The admin stated: “We’re going to take a look at demand and watch the progression of Coinbase Commerce before making a decision on whether to re-enable.”
Reddit that was founded in 2005 hosts more than 40 million users to its platform as on date. Although the membership on the Reddit platform is free, users can still support the platform by buying the Reddit Gold Membership. The membership programme provides additional features to the users on the website that allows the breakdown of their upvotes called ‘karma’ which gives them the ability to load more comments at once and provide access to a secret subreddit.
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Besides the major release, Revain is celebrating first 1000 reviews posted on the platform.
“This a significant new pack of features on which we worked hard during this month”, says Revain CEO Rinat Arslanov. “Today we also celebrate first 1000 reviews posted in the platform which gives as confidence in Revain’s market potential and future scale.”
Exchanges are the central part of the cryptocurrency world serving enormous amounts of users, data, and money. This is why Revain believes it is incredibly important to create a single place with authentic and trustworthy feedback for exchanges. From this moment users can leave their reviews on exchanges based on the support, registration and withdrawal processes. Revain starts with a few major ones and will keep adding others as the time goes.
Second big feature is the new score ranking. Revain’s custom algorithm ranks all projects and exchanges based on their popularity and people’s impressions. Every user has an opportunity to influence this ranking by actively using the platform.
Third, is adding Proof-of-Reviewing feature. After leaving a feedback on the Dashboard, a user will receive an email with the copy of the review and digital signature which confirms that user’s review was submitted. From that moment users can always have a proof in case their reviews may be manipulated.
Fourth, in v0.6 users can get a sense of their popularity on the platform. New email notifications are aimed to give people a little insight on how their review is performing, including statistics such as views and likes.
Fifth, review section on the projects pages was completely redesigned to be more functional, convenient and easy to use.
Sixth, a mobile version of the Dashboard is improved as more and more people use Revain on mobile devices.
About Revain
was created to revolutionize online reviews using blockchain technology. Its platform is designed to accumulate authentic user reviews on startups and projects that have concluded their crowdfunding/ICO stage.
The platform is bringing to life the service that will finally allow businesses to receive detailed and genuine feedback about their projects, while users will get access to other people’s experience with ICOs and share their own insights as well.
The platform will be aggregating information on token dynamics and major milestones in each listed startup’s development. Revain released version 0.5 of the platform in February 2018 with a target to deliver full release 1.0 as early as Q2 2018.
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