Read all about it at the above link. There’s way too much to process here. This is going to be wild.
Wow. I read through most of the pages. What a convoluted system! Besides several new terms that are interdependent and poorly defined, this scheme is going to be impossibly opaque to users and orders of magnitude more complex than upvote/downvote. I especially don’t like that points are directly related to karma, when karma whoring and botting are prevalent. Last thing we need is karma earning one some measure of influence or control in a community.
They clearly think this is something people will simply get used to should they not enthusiastically embrace it. Why they think that in an era of other platforms dumbing down interaction to nothing more than an upvote I can’t wrap my head around.
What a colossal waste of resources. Thankfully it appears to be opt in by sub for now, though I doubt that will last.
Well to be honest I never paid any attention to the old system either
Community Points represent a way for Redditors to own a piece of their favorite communities. […] They can even be used in custom tools outside of Reddit and on other platforms.
How the fuck would this work, I wonder? I tried to read through some but it makes little sense to me. It sounds like putting karma on blockchain and making it into a currency acting as reddit gold.
Rest is just regular cryptobro talk formulated so that Reddit looks like it cares about communities - or am I missing something?
Community points have been used on the cryptocurrency subreddit for years, now, called Moons. They’re fine I guess. You can withdrawal them relatively easily and do whatever with them. They’re given out based on up votes
So you can basically cash out if I understad you correctly?
Pretty much. You can use them to get additional rewards in the community and/or withdrawal them out to the Ethereum blockchain if you want to. Could even sell them if anyone would bother to buy
God, but that just seems like the worst. The fun of karma was that it was worthless but hey, a lot of us liked seeing big number go up and that was fulfilling in itself. Now people are going to be incentived to post for the sake of posting to try to earn something. Low effort, contentious, engagement driving spam.
Every time a crypto bro says that users “should be paid for their posts” I think about what a horrible hellscape a platform would be when the main motivation to share on it is financial profit. Look at how many people on Tiktok are slaves to the algorithm and they don’t even make money directly from that.
Right? It’s already bad enough how it feels like the sole purpose of every blog is to push affiliate links. Every product review I have to wonder if the author for paid for it. Every YouTube video feels like the creator will push whatever scam pays them money.
Actually, on the YouTube video note, Legal Eagle has a great video about how many YouTubers pushed this scam claiming you could “buy an official lord/lady title by purchasing a 1 square foot plot of land in Scotland”. Basically a rehash of those star registries from the early 2000s. So many massive YouTube channels promoted them with blatantly false claims. And frankly every time I see a VPN ad (because it feels like pretty much every YouTube channel is sponsored by one or another), I just know they’re going to make misleading claims.
Yeah it’s a pretty lame system. It also incentivizes downvoting everyone so you get more of a share of the distributions
Small correction: They’re Arbitrum Nova tokens, not ETH tokens anymore.
Greatly saves on gas fees, but Arbitrum Nova has narrower support.
Kraken just added support for Moons and Bricks, so the methods of cashing out are becoming easier.
“We made reddit blockchain crypto NFT … things!”
“Great, what do they do?”
“Good things! You like good things, right? Think of a good thing. It does that! You’d be too stupid to understand the complicated complexities of the details. Give us your money now.”
Maybe I’ll be able to give you reddit gold on lemmy
I don’t think you’re missing anything.
It’s just tradable karma on the blockchain.
communities need to be owned by their members in ways that platforms cannot take away.
uuuuh
we now have a way to establish this freedom in a decentralized and secure way
they have shown us that their goal is profit, not user experience, you can never believe them
Oh the irony 😅
They are trying to win us back by… gaslighting.
Hey, no baby, I didn’t just ban some mods because they refused to do what I said, no way baby, I respect you too much for that! Now, you’re going to stop dating that lemmy guy and come back to me, right? You know I love you. You know I would never ban a subreddit unless they broke the site wide rules, right? You need me, you know it’s true.
It says you get them by contributing, so like 10 people are going to own 80% of all the coins on Reddit.
10 repost bots will own all the coins
Honestly if the coins are tradable on an online market for real money, I’ll also be setting up repost bots. Might as well make money while you can.
Called it. It’s crypto.
I don’t if I trust crypto man now if they were paying in nfts which are totally lagit I might consider it
Oh what complete fucking energy wasting bullshit that can be handled by a simple db. Just more corporate buzzword bingo from these jackasses in charge.
Don’t knock the tech just because it’s currently being used like stocks and currencies. Fundamentally the blockchain solves the problem of making a distributed database secure and modifiable when in the presence of untrustworthy nodes – no easy task. Simple dbs are not up to this task
Fundamentally there’s absolutely no need to use this to keep track of Internet points on a social media site. It’s bullshit, buzzword bingo.
that’s why I generally, just like keeping my blockchain news with EIPs/ERCs rather from anything/anyone else.
It’s an A.I. Blockchain NFT!
Earn points through generating content and moderation? Okay, sure, why not?
Use those points to weigh votes in community governance? Suuuure, okay I can see how that could be cool.
The points are on the blockchain? Uh… so what’s stopping rich assholes from buying up points and using their capital to take over communities?
If the points are non-transferable then I can see the merit of a points system… but then why would you need a blockchain at all? It’s all still a closed off walled garden despite what they are pitching.
Or just create bots to farm community points and then you don’t even have to pay that much at all.
so what’s stopping rich assholes from buying up points and using their capital to take over communities?
Nothing, that’s the point :) Rich assholes pay, Reddit makes $$$.
If you get downvoted that means less points at the end of the month so you better conform.
That’s no different to now with Karma. And it seems like this new model doesn’t give them any real money so what’s the incentive to contribute at all?
This system basically encourages karma-whoring reposting behavior that slowly turns Reddit into a TikTok mirror. What could go wrong?
It also encourages the vague rule-making and arbitrary/excessive enforcement so that power mods can farm points. All the things people love about the site!
Yeah it’s not the worst idea in theory but implementation needs to be perfect. Even if they don’t allow token transfers I feel like this will make power users even more powerful without some kind of forced regulation. A repost bot could get the lion’s share of tokens and take over governance.
The points are on the blockchain? Uh… so what’s stopping rich assholes from buying up points and using their capital to take over communities?
That’s the whole point. Want control over a community? Just buy it!
so what’s stopping rich assholes from buying up points and using their capital to take over communities?
Oh silly boy/girl, that’s exactly why it’s set up that way. :D
JK. Seriously, though, I doubt reddit cares where the funds come from. Pretty short-sighted to me, tbh. When money takes over, I wonder how redditors will react.
Check r/cryptocurrency for a glimpse of future Reddit. So far it’s managed to become a shitpost cesspool.
Right, there is a potential path here that could be awesome, non transferable tokens that represent voting rights/karma, and points you can sell that could later be use as “gold” used to be used. But I don’t think that’s what they are doing
Can you spend points to get spez fired?
Blockchain never does anything better than any other database, in fact it does pretty much everything worse.
Corporate centralized social media: advertises “decentralization” through crypto People on actual decentralized social media: “That’s the stupidest thing I heard in the last 2 days”
Interesting idea but it’s still too close to the reddit platform. Looks a lot like reddit gold, except you can take your ‘gold’ elsewhere. This is a cool idea, despite the knee jerk reactions in this thread.
It’s a partial step towards a DAO, but looks rushed, half baked, and done for the wrong reasons. Some reddit profits will trickle into this currency. If they wanted to provide actual benefits instead of just making themselves rich they’d distribute profits to CP holders and allow CP holders some governance roles site-wide instead of being boxed into a community. Serfdom vibes.
no crypto bullshit is interesting
Lol it’s called CP!?!!??
Lololololllloloollo fucking CP
What about this “idea” is cool? Karma farmers will become crypto miners and nothing else changes. You don’t “own” anything that is in the blockchain, especially not your reddit community (as seen with the protests in June/July).
They’re not NFTs, NFTs are bad, no these token are called Community Points! Totally different than NFTs!
I mean, it sounds like community points are fungible, so not “Non-Fungible Tokens.” Still a terrible concept regardless.
Cryptocurrency and NFTs are not worthy. Many fediverse servers are against them, especially stux.
Yeap. I wouldn’t be surprised if this update/pivot is a reaction to this: https://eips.ethereum.org/EIPS/eip-6551
Can someone translate this for us morons? I got confused when I read about breeding cats so …
The ERC-721 standard enabled an explosion of non-fungible token applications. Some notable use cases have included breedable cats, generative artwork, and exchange liquidity positions.
LOL, so out of place haha
It is time for communities to break free of walled gardens
Lmao how can they say that with a straight face
Yeah and then in the next section they reveal that you have to use to official Reddit app to even be able to do anything with your points. It’s a joke.
they asked ai to write the intro, and that was the best they could do.
The AI was trained of Reddit comments, so what do you expect?
You know what? I believe you. It something they would definitely do.
I immediately left after reading that. Whatever they have to say, it can’t be anything reasonable.
Lmao me too, I knew they were full of shit, but jesus. I wonder if they’re self aware or something.
They forgot the Reddit /s
Sometimes I wonder if the people who work at Reddit have ever heard of Reddit.
Honestly, they haven’t, it’s all just corporate managers and MBA’s.
Who cares? It’s a completely different website.
“Who cares about [random thing]?” says man in community specifically created to talk about [random thing].
