Reddit cofounder Alexis Ohanian has confirmed in a Y-Combinator Hacker News post that the launch of Reddit Notes has been delayed. The site specific currency is intended to follow the model of other successful cryptocurrencies like Bitcoin and Dogecoin and give users a convenient way to tip and trade with each other.
On the official Reddit blog post on the subject, Reddit had this to say:
We’re still working out details on both the technological and legal aspects of the project, especially regarding how reddit notes will work within existing government regulations.
At the time, Reddit notes were planned to be launched in Fall of 2015, but the recent post from Alexis Ohanian has made the new release date unclear.
As of yet, it is still unknown how the notes will be distributed and traded, but on the official blog post Reddit announced that the distribution would likely be done in a lottery system with priority given to accounts active before Fall of 2014 when Reddit Notes was announced.
To celebrate all of you and your contributions, we plan to give away reddit notes in a random lottery. As of this point, it looks like we’re going to have approximately 950,000 reddit notes to divide among active user accounts.