Reddit’s CEO on Bitcoin

Reddit hosts one of the biggest Bitcoin communities, (“/r/bitcoin” to “redditors” – i.e., those familiar with the site) outside of dedicated sites like bitcointalk. Therefore, I was more than a little interested to hear that that Yishan Wong, the CEO of Reddit, went on the record to offer his take on the phenomenon. He explained:

The userbase for bitcoin is basically crazy libertarians who are increasingly poorly-informed about currency systems and macroeconomics. I say “increasingly” because at one time it was fairly well-informed libertarians but as the currency has become mainstream, it’s attracted more poorly-informed individuals and the conversation have become more polarized and less knowledge-based, driving the well-informed and balanced people away, or at least prompting them to recede into the background.

My hat is off to him, and I couldn’t possibly say it any better.

Too often on those boards, it’s incredibly clear that the loudest proponents have give economics very little thought, except for when they intentionally overlook all of the virtues of our current system, omit all the flaws of the system they propose, and lambast the government for imagined attempts to be jackbooted thugs.

To Bitcoin!

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