Reddit launched their own cryptocurrency

Haven't found any information on what communities are eligible for these points.
 
Reddit has just launched their own token.

If this allows us to convert karma into crypto, it might be a major money maker.

https://www.reddit.com/community-points/
Very interesting. It does seem like karma will convert to crypto. For Reddit, this seems like a cool addition; I guess we'll see in time if it's successful or not.

I'm not sure what to make of whether this will have serious value or not. It's main utility seems to be buying Reddit upgrades, and tipping. I guess some crypto tip bots had some nice volume years ago so maybe it'll be popular in certain subreddits.

Haven't found any information on what communities are eligible for these points.
They announced Fortnight Bricks for the Fortnite subreddit: https://www.reddit.com/r/FortNiteBR/comments/gj8tm1/introducing_rfortnitebr_bricks/

And Moons for the cryptocurrency sub: https://www.reddit.com/r/CryptoCurrency/comments/gj96lb/introducing_rcryptocurrency_moons/

These 2 subreddits alone apparently get 20M monthly users so it's good exposure for cryptocurrency in general, especially Ethereum.
 
Here we go. This is an example of real adoption - albeit 'useless' but there will be a market for these tokens because of what they can offer.
 
What's up with everyone and crypto?
 
Many years ago reddit announced they had secured millions in funding, and that they were going to launch a real cryptocurrency with millions of that.

Within days, they simply pretended it never happened. I asked hundreds of times in threads created by admins, nothing. Super shady stuff.

Even finding news stories about it is pretty hard, but I did manage to find this one:

https://www.bbc.com/news/technology-29443019
 
Very interesting. It does seem like karma will convert to crypto. For Reddit, this seems like a cool addition; I guess we'll see in time if it's successful or not.

I'm not sure what to make of whether this will have serious value or not. It's main utility seems to be buying Reddit upgrades, and tipping. I guess some crypto tip bots had some nice volume years ago so maybe it'll be popular in certain subreddits.


They announced Fortnight Bricks for the Fortnite subreddit: https://www.reddit.com/r/FortNiteBR/comments/gj8tm1/introducing_rfortnitebr_bricks/

And Moons for the cryptocurrency sub: https://www.reddit.com/r/CryptoCurrency/comments/gj96lb/introducing_rcryptocurrency_moons/

These 2 subreddits alone apparently get 20M monthly users so it's good exposure for cryptocurrency in general, especially Ethereum.

So these 2 subs were chosen to test Community Points by Reddit? Still don't know what are the requirements. As a moderator of both SFW & NSFW subs I haven't received any mod news on this.
 
So these 2 subs were chosen to test Community Points by Reddit? Still don't know what are the requirements. As a moderator of both SFW & NSFW subs I haven't received any mod news on this.
They are just testing it with those 2 subreddits for now
 
Every four weeks, Reddit will publish a list of how much karma each user earned in the community during that period, as a proposed score of their contribution. After this, the community has 1 week to review the list and propose any changes, if it wants.

To propose a change, publish an alternative list and create a poll to have the community approve it. If the poll meets the minimum quorum and passes (by Points), it becomes the official contribution score (except in case of significant bribery). In case of multiple polls passing, the one with the most Points cast in favor is used as the official result.

So, to keep it short, people contribute by posting and being active, so they receive their cryptocurrency as a reward? And people can bash each other proposing other lists? Umm... Nice way to build up feuds and keeping people entertained.
 
Now I can be annoyed at more people who don’t know what they’re talking about, Yay! :D :D
 
So, to keep it short, people contribute by posting and being active, so they receive their cryptocurrency as a reward? And people can bash each other proposing other lists? Umm... Nice way to build up feuds and keeping people entertained.

I believe the end goal is to bring back some weighted democracy into how subreddits are run. Now obviously the quickest way to adoption is to make something shiny that people can use.. See: Subreddit icons on usernames.
Daonuts were around for awhile on /r/EthTrader (Or /r/Ethereum) can't remember exactly but they were endorsed by the admins and had their support on updates that needed to happen on the front end.

Will be really really interesting to see how this all plays out but I'm excited to see how they progress on this.
 
but why would anybody buy it? maybe i missed something but I don't see the point
 
I think Reddit is the least monetized social platform [The owners make the least amount of $$]
Redditors hate -
  • ads
  • marketing
  • promotion
  • sales
  • billionaires
  • millionaires
Bunch of Suckers! :poop:
They hate anything interesting, exciting, intelligent. They just like the basic, uninteresting whatever they think the majority is in to.
 
but why would anybody buy it? maybe i missed something but I don't see the point

Look at how people try to get funny comments in threads, or posting OC content. All for Karma which up to date is worthless. Now it may translate into some kind of value, it gives an incentive for people to post more/better content.

I remember reading somewhere else that they were collecting more information about users. Perhaps this is a way to retain more users to collect more info?
 
Very interesting, this can bring alot of trash for the threads with the goal of making Moons (their crypto coin)
It will open a new market for sure
 
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