Reddit Faces Backlash and 'Blackout' as Crypto Communities Protest API Pricing Changes

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Mon, 02 Oct 2023, 06:39 PM
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Reddit Faces Backlash and 'Blackout' as Crypto Communities Protest API Pricing Changes

Crypto Enthusiasts Rally Against Modifications Leading to Subreddit Shutdowns, Seeking Alternatives like Twitter and Decentralized Platforms

Wed, 14 Jun 2023, 15:10 pm UTC

A wave of disruption has swept through Reddit, the famous social media platform, due to many changes that have sparked outrage within its user community, particularly among crypto enthusiasts. A 48-hour "Reddit blackout" marks the protest, as certain community overseers have temporarily shuttered their sections.

The crux of the issue lies in Reddit's planned modifications to its API pricing, which threatens the existence of several app developers. Numerous crypto-focused subreddits, including r/bitcoin, r/cryptocurrency, and r/ethereum, have stood against these changes. They stand together with about 7,000 other Reddit communities, switching to private or read-only modes.

Interestingly, even crypto-skeptic subreddits like r/buttcoin have gone silent during the blackout. Yet, communities supportive of crypto, such as r/altcoin and r/NFT, have remained active. R/dogecoin, beloved by its followers as "the most amazing place on Reddit," continues to engage with its 4,700 active members despite the ongoing blackout.

During this turmoil, Reddit has faced technical challenges, experiencing issues with stability. Downdetector, a site tracking online outages, observed a sharp increase in reported Reddit problems, peaking at about 43,000.

Many users have sought refuge on Twitter, finding solace under the digital umbrella of Elon Musk's app. Although the platform has seen a dip in ad sales and a few technical glitches, it continues to attract crypto aficionados. The constant flow of crypto-based discussions on Twitter has gained the nickname "Crypto Twitter."

Another possible refuge for Reddit's crypto users could be decentralized Twitter alternatives like Bluesky and Nostr. Influential figures such as Twitter co-founder and CEO of Block, Inc., Jack Dorsey, have boosted their popularity. Despite Reddit's disruptions, the ever-increasing popularity of platforms like Twitter and Discord suggests that the conversation around crypto and NFTs is unlikely to cease anytime soon.

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