Reddit is killing blockchain-based Community Points::Citing scaling issues, Reddit is shutting down its blockchain-based Community Points in favor of prioritizing other rewards programs.

    • @glockenspiel@programming.dev
      link
      fedilink
      English
      228 months ago

      That’s not why Reddit is ending it. Reddit is copying Twitter and Musk with a “creator fund” revenue sharing scheme. That pivots around paying for subscriptions with real fiat money to have the chance to earn a fraction of the value you to contribute to the site.

      And Reddit absolutely will not tolerate a competitor that they run themselves. People were earning hundreds or thousands of dollars worth of moons every month if their contributions really popped off on the CryptoCurrency subreddit.

      I had about $600-$800 worth of Moons just from shitposting and trolling and asking clarifying questions. I never made it a priority to engage; it just happened organically.

      So naturally Reddit is going to expunge the better version of what they want to implement because they can’t control it.

      • @stevehobbes@lemm.ee
        link
        fedilink
        English
        108 months ago

        They’re both fucking awful. The everything-is-hustle angle is garbage.

        I don’t want people trying to figure out the optimal ratio of low but not too low effort posts to get paid turning everyone into a shill. Chasing karma was bad enough. People chasing money will be worse and less valuable.

        Just like Twitter, when everyone is monetizing their posts everything will go to shit.