Reddit spends more money on managing bitcoin transactions than it actually receives

So much for the Reddit Grand Experiment in bitcoins. Reddit CEO Yishan justáannouncedáthe monetary stats for accepting payments of Reddit Gold in bitcoins and it’s not good.

btc-reddit-fail

 

So much for that. Reddit is spending more money on people to police the currency than actual bitcoins received. A whopping 2%, what a model for the exploding bitcoin ecosystem.