Reddit's CTO blamed "High fees" for the platform no longer accepting Bitcoin payments in an interview May 2, but hinted they may soon return to the platform.
Speaking in an interview with Cheddar, Christopher Slowe said that developers "Didn't have time" to update the Coinbase API used to accept BTC payments.
Coinbase is in the midst of retiring its Merchant Tools and replacing them with a new operation titled Coinbase Commerce, a move which has sparked mixed reactions throughout the cryptocurrency industry.
"They're doing a great job, they're doing a major revitalization of their payment gateway" Slowe said.
"We just didn't have time to upgrade our current API integration, and once the redesign is landing, I think we'll see crypto payments come back."
Reddit originally halted Bitcoin acceptance at the end of March.
At the time, staff pointed to "The upcoming Coinbase change" and "Some bugs around the Bitcoin payment option that were affecting purchases" as the company's motivation.
In a curious addition meanwhile, Slowe said that Bitcoin network fees were another factor.
Despite fees drifting downwards to just one satoshi per byte in recent months, the CTO gave an example of a $10 fee on a $4 transaction as being a "Hard proposition to users."
Should Bitcoin return it will be together with Ethereum and Litecoin payments, Slowe added.
Reddit CTO: 'I Think Crypto Payments Will Come Back' To Platform
Publié le May 3, 2018
by Cointele | Publié le Coinage
Coinage
Nouvelles récentes
Voir tout
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.