TipJar, an Ethereum-powered service that allowed redditors to send micropayments to each other in Ether and ERC-20 tokens, was shut down on Oct. 7.
Its website is still operational but will be also closed on April 10, 2020.
In a Reddit announcement published on the same day, TipJar's developer cited "Very little activity on the bot" as the main reason for the shutdown.
"The TipJar reddit bot is being shut down immediately, so tipping other users on reddit is no longer possible. The TipJar website will be shutting down on April 10, 2020. After that point, TipJar accounts will no longer be accessible and funds cannot be transferred. If you have an existing balance in your TipJar account, you should withdraw as soon as possible."
The developer of TipJar also noted that he has "Been paying the monthly server fees for several years, and although they are pretty minimal, at this point it doesn't make much sense" for him to continue funding the service that sees little interest from users.
Recently, this sentiment was also echoed by the team behind altcoin trading platform Coinexchange.io.
As Cointelegraph reported on Oct. 2, the exchange is closing its doors due to low trading volumes and financial difficulties.
According to Coinexchange's official announcement, the "Costs of providing the required level of security and support now outweigh" its earnings.
Reddit Crypto Tipping Service TipJar Shuts Down
gepubliceerd op Oct 8, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
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.