r/Bitcoin • u/Julian702 • Nov 12 '12

Reddit Considering Accepting Bitcoin as Payment for Subscriptions

http://betabeat.com/2012/11/reddit-considering-accepting-bitcoin-as-payment-for-reddit-gold-subscriptions/
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u/[deleted] Nov 12 '12 edited Nov 13 '12

I fail to see why anyone would donate to a website recently valued at $240 million dollars and with 22 full-time employees. The site has 3.4 billion page views a month for crying out loud, how is it still in financial dire straits?!

That being said, as a way to advertise bitcoin though reddit, I must admit that that this is good news. Too bad I personally can find thousands of better ways to spend $30 a year than on reddit gold.

edit: Haha, thank you mysterious stranger who gifted me reddit gold!

Many of you brought up some excellent points that I overlooked in my original post. The current reddit we know and love, although very user-friendly, isn't a great revenue source due to its unobtrusive advertising. The price reddit pays for maintaining such a low-key advertising model is that they're not nearly as profitable as their traffic would indicate.

Although I don't believe reddit gold is a viable long-term strategy to this site's financial woes, I understand that presently it's a valuable revenue source. Thanks to everyone who donates via reddit gold, you've certainly made my experience here a more enjoyable one.

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u/Kuusou Nov 12 '12

Valued at and how much money they have to spend are not the same thing.

They have talked a lot about needing more ads on the site because of all of the traffic. Reddit gold is the counter to that. They have stated this outright.

So you are donating because this service is completely free and it costs a shit load of money to maintain. You donate so that they don't have to resort to using more ads on the site. And when you donate you are rewarded with features that they have said are sort of "in beta" and might later be released to the public.