Points: (1) Reddit is in the news now. Fred's post also mentions the challenge of how to manage a social site, e.g., Reddit, that depends on a lot of voluntee

Points: (1) Reddit is in the news now. Fred's post also mentions the challenge of how to manage a social site, e.g., Reddit, that depends on a lot of volunteer workers. (2) Fred is highly interested in nearly everything about BitCoin and blockchains. (3) Fred runs a popular blog, AVC.com, and he regards it as an important part of his business as a VC. In this blog, Fred sees himself as a bartender who watches as others interact. In addition, IMHO, Fred likes to toss out ideas that are easy to comment on because they are deliberately incomplete and can easily be made more complete or deliberately not very good or very well supported so that they can easily be improved on. So, he tossed out something about social site management and the blockchain. From 50,000 feet up, the point of mentioning a blockchain for site management is that a blockchain can be distributed in various respects. In particular, with that post, Fred kept up interest in social sites, one of his favorite ideas, "a large collection of engaged users" that can form a barrier to entry, and blockchain. And he got some thoughtful comments. Some of the commenters may have spent more time on their comments than Fred did on his post!