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Crypto Communities on Reddit Are Blacking Out, Here's Why

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By Brennan Forrest - - 5 Mins Read
Reddit logo icon on a smartphone screen
Photo by Brett Jordan |

 

Reddit logo icon on a smartphone screen
Photo by Brett Jordan

 

 

New trouble for Reddit as many communities in the platform, including the hottest crypto Reddit communities, are going on strike. They unanimously decided to go private or read-only mode from June 12 to 14, protesting against some of the new policies that Reddit would implement soon. When Reddit implements these policies, it will prevent users from freely accessing APIs and tools, unlike before.

 

A good number of Reddit crypto groups would join the online protest to force the platform to make emergency changes for the upcoming policy. Many users consider the yet-to-be-implemented policy harsh, and they look up to Reddit to make some considerations.

 

The protest would go on for approximately 48 hours with the intention of forcing Reddit to remove its upcoming ban on third-party applications. 

Reddit Announcement to Ban Free Access of API 

In April, the company announced it would change its terms and conditions. One of their objectives with this announcement was to modify how users interact with the Reddit Data application programming interface (API).

 

The Reddit Data application programming interface (API) has been crucial for developing moderation utilities and tools, and it has existed for seven years. 

 

"We’re updating our terms for developer tools and services, including our Developer Terms, Data API Terms, Reddit Embeds Terms, and Ads API Terms, as well as updating links to these terms in our User Agreement; and We’re building new moderator tools (while maintaining existing ones) for moderators to ensure any updates to our Terms do not impact their important contributions to their communities," the company said in the announcement. 

Users' Reaction to the News 

Many subreddits weren't happy with the new decision from the platform's management and decided to protest about it. Apparently, building native moderator tools directly impacts the community’s ability to use other third-party applications on the platform. Users who joined the protests would change their platform status to private or read-only modes. 

 

One of the significant sectors of Reddit joining the protest is the crypto sector. Many crypto enthusiasts are joining the protest, and this would affect many top investors who often use the platform to get insights about the crypto market.

 

reddit interface
Shutterstock

 

Some subreddits within the crypto industry joining the protest include r/Bitcoin, r/CryptoCurrency, and r/cardan. It is expected that more than 3,5000 subreddits would join the protest against the new changes in Reddit API usage. If other communities should join the protest, it might cause severe damage to Reddit. 

Reddit CEO Backs Their Decision 

Pending when the protest ends, it seems Reddit's management won't change their new policies, as their Chief executive officer has reaffirmed they would be standing by their policies. He claimed that he wants Reddit to become a self-sustaining business. They wanted to do this by putting a price on some of their former free services, including the Reddit APIs. 

 

"We respect when you and your communities take action to highlight the things you need, including, at times, going private," Reddit CEO Steve Huffman said during an interview. If the protest goes as planned, Reddit may experience stunted development.

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