Reddit

Instant eyeroll when I got to 'blockchain'.

I don't even understand the problem they are trying to solve? The only way we are 'second-class citizens' is how the reddit admins treat their users.

Can someone copy/paste it? I refuse to visit Reddit and give them views.

Apparently, this has been around for ages:

May 28 2020: https://consensys.net/blog/news/everything-you-need-to-know-about-reddits-new-blockchain-based-community-points/

May 15 2020: https://old.reddit.com/r/ModSupport/comments/gk0x6g/could_the_admins_please_explain_this_community/

IA History: https://web.archive.org/web/20230000000000*/https://www.reddit.com/community-points

Discussions of proliferating it and fantasies about the resulting weird exploitation it will enable have occurred as well:

March 17 2023: https://old.reddit.com/r/CryptoCurrency/comments/11tv5vz/when_community_points_are_introduced_to_other/

July 16 2023: https://old.reddit.com/r/CryptoCurrency/comments/151fg8h/which_subreddits_need_to_be_the_next_to_get/

Apparently, they also tried to do this before, almost 9 years ago:

https://www.engadget.com/2014-12-19-reddit-notes.html

https://techcrunch.com/2014/12/19/reddit-announces-redditnotes-a-way-to-share-equity-with-readers/

https://www.theverge.com/2014/12/20/7427491/reddit-notes-announced-give-5-million-dollars-to-users

https://slate.com/business/2014/12/what-reddit-notes-are-their-history-and-future.html

https://old.reddit.com/r/blog/comments/2pt25f/announcing_reddit_notes/

https://old.reddit.com/r/TheoryOfReddit/comments/5fyaec/what_happened_to_reddit_notes/

https://www.fortune.com/2015/01/30/reddit-notes-is-not-going-to-happen/

Kinda puts things in a new light. Ruining the site has always been the plan.

"It is time for them to take back ownership and control." Funny that this is coming from Reddit. Actually more like ironic.

It says you get them by contributing, so like 10 people are going to own 80% of all the coins on Reddit.

That is absolutely hilarious. Yeah Reddit, I totally buy that you want internet communities to not depend on platforms like Reddit. This would be totally monetizeable for you, not that you care about monetization and not that monetization has proven to work at cross-purposes with making good internet websites/communities. And once you mentioned blockchain, well that's when I recognized the subliminal cues suggesting a well-thought-out proposal that positively impacts the world.

EDIT: Ugh just saw that again, they just linked an old post, this one apparently from 2021. I don't think it changes things much insofar as they're presumably planning to replace awards with something and this proposal presumably describes it. But I already didn't see them successfully implementing the thing as written, and knowing now that it's from 2021 it just makes me more certain that whatever they roll out is unlikely to be exactly what's described here.

I'd say knowing this was written two years ago makes the text less hilariously on-the-nose but that depends on whether they'd write something different today doesn't it, I'm not sure they wouldn't.

3 questions:

1. Does reddit think their users are complete morons?
2. Are they right?
3. Where can I get checked if I have accidentally consumed at least ten times the daily recommended dose of buzzwords?

I'm pretty happy not going to any Reddit links, I'll get it from the comments here.

wow, thats impressivly tone deaf. "break free from walled communities, with our walled community! you will be free to do what you want with your community points, inside this one community you cant remove the points from!"

They're not NFTs, NFTs are bad, no these token are called Community Points! Totally different than NFTs!

I see Reddit's solution to the class problem they created on their platform is to checks notes create another class problem.

Community Points

At least the way I see this going.

$$$ ------> Reddit -------> Redditcoin --------> Community coin ------- > Weighted polls in your favor.

Did you see it? Where the money went? It doesn't go to the creator, it goes only to reddit, the person that posts on reddit only gets community points. Which can only be used for "Premium services like a reddit subscription"

Think if twitch.tv basically took all the money you donated to a streamer and only gave the creator "exposure" for his hard work.

I'm sorry but this is some dystopian bullshit that's all centred on the false premise that communities are anything other than the people who choose to count themselves among them and engage in them.

Reddit is just the tool some communities chose to use to gather their members and communicate. That's it. If a community decides that Reddit is no longer the appropriate tool for the job, they can leave and build their community elsewhere. That may be a bit of an oversimplification, given the resources and tools those communities might lose through the transition, but strictly speaking, Reddit can't do anything to stop the members of any particular subreddit going elsewhere, and a cryptocurrency absolutely is not going to fucking facilitate the ownership or mobility of a community.

It's a bullshit form of control that they want their users to willingly bind themselves to. Suddenly you're not just participating in a community, but you're genuinely invested, tied to something with a perceived monetary value, that even if you can theoretically remove from Reddit and take elsewhere, won't have any more value than people choose to place on it, and won't represent the community that generated it in any meaningful way.

It's literally "Hey, the more you use Reddit, the more of our crypto you'll earn, which could be worth more than zero one day! You better keep using Reddit, huh? You wouldn't want to lose that potential for more than zero eh? In fact, why don't you encourage more people to use Reddit too? Then they'll generate their own crypto, and the more people use our crypto, the more it'll be worth for everyone! See, if you get five more people to use Reddit, and those five people also get another five people each to use it etc etc etc..."

The fuck out of here.

I love how they talk about community independence yet Reddit can come in at any time and remove the mods if they don't like the content those communities are producing

The design of this website is trash:

This reads like shit. it starts off with this ground breaking tone, then its just crypto bs? and then the article just ends abruptly. The fediverse is the solution to the problem theyre talking about not some shitcoin. sheesh

Not often has bullshit been so transparent.

For now, Reddit will cover gas costs for distributing Points to users and allowing them to spend Points on features such as Special Memberships.

Spez: "We are not profitable"

This is where Spez is spending money. Not on making the App/UI/UX better, but on crypto scams lol

“Own” your community, but if you blackout or post John Oliver, we’ll take it away from you.

Okay. Each sub gets fresh points according to it's size, activity and admin preference.

Every month your karma in a sub gets converted into these new points. These points can then be used to tip others, buy animated emojis or badges to show off. They are also used to make your vote count more in polls.

Mods can give commenters fines for misbehaving and make posts earn less points.

Sounds very capitalist. I guess it makes everybody go to a few big subs, as little subs don't earn anything. And those big subs are overrun by a few big players who floated to the top and stay there because of their influence. Little subs get overrun by alt-right as the fines mods can give there are just pocket money.

But that's what you get when ideology and dictators rule.

The people are gonna love this as much as the Metaverse

The SEC or FTC or someone should sue Reddit for using the word 'decentralize' in connection with a feature that's only available within...Reddit! I don't care how many 'blockchains' and other buzz-terms they surround it with.

Good lord. They've looked at the last few years of crypto and thought..."Yeah, that looks like a good way to do things! What could go wrong?" What a ridiculous scam. The fact that the Cryptobros at /r/CryptoCurrency are excited tells me all I need to know that this is a scam.

I wonder if whoever wrote that announcement really doesn't see the irony in what they wrote. Or maybe they do and they secretly hate reddit?

Either way, lollercoaster. Lollercopter. Lollapalooza.

Is this an out of season April fools joke?

Ah yes, the good ol' "let's solve this problem with blockchain". I thought we're already past that.

People who have contributed more to the community and earned more Points are able to have a larger say in the direction that the community takes.

When karma-whoring repost accounts have more say than actual community members... What could go wrong?

This is pure comedy at this point. I don't have a popcorn bag big enough.

Had to get blockchain in there somewhere to appeal to the idiot investors.

In order to be truly independent from platforms like Reddit, communities need to be owned by their members in ways that platforms cannot take away.

You mean, like . . . landed gentry?

Looks like they want users to buy MeowMeowBeenz