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Reddit is killing blockchain-based Community Points
(techcrunch.com)
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this post was submitted on 21 Oct 2023
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Who could have known by 2020 that Blockchain is shitty tech that doesn’t scale well?
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.
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.
What are "Moons"?
The version of Community Points used on r/CryptoCurrency