Reddit No Longer Accepts Bitcoin | Hacker News Reader

Reddit No Longer Accepts Bitcoin

fortune.com

23 pointsMononokay11 comments

All I've been seeing is red across the board for the past few weeks, someone must be hurting.

It's so apperent that the price of cryptocurrencies aren't really related to how well they are functioning in terms of tech.

LN is working on main net, tx fees are very low and atomic xchain tx are working on some major chains.

I stopped understanding after "LN is working"

Lightning Network is live, transaction fees are low and LN's cross chain atomic swapping works with some other major currencies.

Bitcoin has been artifically overvalued by "investors" (with little to no technological understanding) ever since the rally last fall. It's returning to its real valuation. I don't see that as a failure in the long run. I still expect it to grow - with its ups and downs - in the long run.

Kind of feel like with everyone who piled on in accepting it, and now so many fairly well known players abandoning it... well maybe in five years things will be different...

Yeah it's painful to see it being dropped by people.

Typically I've found trying to predict what will happen with BTC's price on even year long time scales to be near impossible. However for the majority of the time saying it will be higher in 5 years has been correct.

"Someone" being all the suckers who have bought in on the hype since November. The whales and exchanges are laughing their asses off and doing just fine.

Not surprised. Right in line with Steam and others. Bitcoin failed.

I wouldn't say it failed, more like foiled by investors less interested in the technology and more intent on making profit, which has killed any chance it has of becoming an actually viable currency. I had dreams of paying for physical goods in store with BTC, maybe through NFC, but thanks to price fluctuations that will probably never happen.

Super fair point. I agree with your nuanced perspective, thanks.

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