Reddit crypto communities go dark — Here’s why

Many sub-communities on Reddit, consisting of popular crypto subreddits, all chose to go private for 48 hours to object against brand-new business policies that avoid making use of third-party applications.In April, Reddit revealed plans to customize how users interact with the Reddit Data application programming user interface (API)– a seven-year-old application making it possible for developers to create tools and energies for small amounts and other activities.Most subreddits reacted to the move, as Reddits intention to build native moderator tools straight affects the neighborhoods capability to produce and use third-party tools predominantly utilized for moderating material and interactions. As an outcome, communities chose to go personal or in read-only modes in between June 12 and 14, opposing the upcoming change.Subreddit r/Bitcoin went personal. Source: RedditThe list includes significant crypto communities, which have actually been instrumental for countless financiers worldwide to talk about various elements of the ecosystem.Subreddit r/CryptoCurrency took part in the Reddit blackout. Source: RedditSome popular subreddits devoted to talking about Bitcoin (BTC) and cryptocurrencies protesting versus the modification include r/cardano, r/bitcoin and r/cryptocurrency. Reddit has likewise received backlash for presenting paid access to its data API.A screenshot revealing the approaching changes shared by Reddit. Source: Reddit While nearly 3,500 subreddits were approximated to end up being inaccessible, the numbers might increase if other communities join the revolt. On the other hand, Reddit CEO Steve Huffman backed the social media platforms choice by revealing the requirement for being “a self-sufficient business.” He said:” We respect when you and your communities do something about it to highlight the important things you require, consisting of, sometimes, going private.” Moreover, to eliminate the substantial usage of third-party mediator tools, Reddit plans to launch mobile mediator tools for Reddits iOS and Android apps in the coming months.Related: EU watchdog targets crypto ads on Instagram, YouTube, TikTok, TwitterContrary to the continuous neighborhood retaliation, Reddit is close to accomplishing a new turning point in regards to collectible avatar holders on the platform.Reddit handled to amass 10 million holders of its collectible avatars within a year of launching Reddit NFTs.Reddits collectible avatar banner. Source: RedditReddits collectible avatar market was introduced on the Ethereum layer-2 scaling network Polygon in July 2022, which allows independent artists and Redditors to create personalized nonfungible token collections.Magazine: Tornado Cash 2.0: The race to construct legal and safe coin mixers

Other Questions People Ask

What led to Reddit crypto communities going dark for 48 hours?

Reddit crypto communities decided to go dark for 48 hours in protest against new business policies that restrict the use of third-party applications. This decision was made after Reddit announced changes to its API, which would limit how developers create tools for moderation and community engagement. Many popular subreddits, including r/Bitcoin and r/CryptoCurrency, participated in this blackout to voice their concerns over the impact on their ability to manage content effectively.

How did Reddit's API changes affect crypto subreddits?

The changes to Reddit's API directly impacted crypto subreddits by limiting their access to third-party tools that are essential for moderation and community management. These tools have been instrumental in helping moderators maintain order and facilitate discussions within their communities. As a result, many subreddits chose to go private or read-only, highlighting their dissatisfaction with the proposed changes and advocating for their needs.

What was the response from Reddit's CEO regarding the blackout?

Reddit CEO Steve Huffman acknowledged the blackout and expressed respect for the communities taking action to highlight their concerns. He emphasized the necessity for Reddit to become a "self-sufficient business," suggesting that the changes were aimed at improving the platform's sustainability. Huffman's comments indicate that while Reddit values user feedback, it is also committed to its strategic direction, which may not align with the desires of all community members.

Which major crypto subreddits participated in the protest against Reddit's changes?

Several major crypto subreddits participated in the protest against Reddit's API changes, including r/Bitcoin, r/CryptoCurrency, and r/Cardano. These communities are vital for discussions surrounding cryptocurrencies and have a significant following among investors and enthusiasts. Their collective decision to go dark underscores the widespread concern about how these changes could hinder their ability to engage and moderate effectively.

What are Reddit's plans for moderation tools following the backlash?

In response to the backlash from crypto communities, Reddit plans to introduce mobile moderator tools for its iOS and Android apps in the coming months. This move aims to provide native solutions for moderation that could replace some of the third-party tools currently used by subreddit moderators. However, the effectiveness of these new tools remains to be seen, especially given the strong reliance on existing third-party applications within many communities.