The popular social bookmarking site Reddit announced yesterday that their code would now be open and free for scrutiny and contribution from the community. Citing transparency and giving back to the community that has given them the tools to build Reddit, they encourage users to visit and participate.

A video announcement by their mascot explains the move.

A lot of readers visit us from Reddit, and I am curious to know your feelings on this strategy. Will this give them an edge over the competition with users in the tech community? Will you be more likely to use Reddit now that the source is open?

Let us know in the comments.