Oh good. Now they’re literally paying the karma-farming bots to spam recycled and stolen content. That will surely end well.
More karma farming is going to happen.
Convenient (for them) that they start this only after destroying all the coins people earned over years of using the site. I had over 80k coins and 18 years of premium from various awarded posts (all OC) that they just threw away for nothing.
If they respected my contributions, I might be excited about this, but now I plan on contributing absolutely nothing of value ever again.
u/poem_for_your_sprog?
Reddit is getting into money laundering I see.
Caveats: gold is not eligible in NSFW, trauma support, or quarantined subreddits.
what
Probably because they dont want to incentive people to go there and make up stories about in order to get sympathy gold.
I’m guessing they don’t want non-qualified individuals benefiting monetarily from mental health services. I can only assume it’s a legal can of worms.
But not relationship and advice subs?
Why shouldn’t creative writing get benefits?
Hey, at least it should keep the bots out of there, if it offers consolation. I can’t imagine they’re not doing this to cover their butt.
How will they even enforce that?
It’s quite easy to make a list of existing large trauma support subs, just search “trauma” and they’ll probably include the top 3 pages
Yeah fuck all of this.
Top to bottom.
This feels like crypto, NFT silicon valley bro bullshit. I just know Spez has a fucking erection every time it gets mentioned .
Let’s welcome the next wave of Redditors to the Fediverse everyone .
Removed by mod
“Men of Reddit, do you prefer doggy style, missionary, or something else?” by u/BotTiddyGothGF | +34k / 869 comments | 2 hours ago
deleted by creator
Great, now they’ve turned karma whoring into a profitable enterprise. This will surely go well.
deleted by creator
One gold upvote costs $2, the recipient might get either $0.90 or perhaps $1. But most likely they’ll get nothing.
deleted by creator
So basically reddit gets a dollar on every gold purchased.The contributor who is (let’s check the prerequisites)in good standing,completed a kyc,has enough karma,and minimum 10 gold to cash gets a whopping 1 dollar per gold.
So, provide a good answer,get traffic to the site and reddit will shows ads on it and also take a cut from any money given to the contributor(s).
I didn’t think reddit could go any lower.Since this is a new low,I am curious how much is this going to ruin reddit(experience).
Does it also not open the door to stolen intellectual property now? Its one thing to repost a meme or use a format for no profit, but if any post garners profit coming off someone else’s creation, would that not be a legal issue?
It blows my mind that this is both spez and Elmo’s best idea for what to do with their respective hellsites: what if we made a shittier Quora? Because Quora’s such an enviable business, right guys? Quora’s right up there with Apple and Microsoft!
The Metaverse pivot by Zuck was only marginally less stupid. This is why HBO had to cancel Silicon Valley, the show: you can’t parody Sillycon Valley anymore. ByteDance and WeChat are going to devour these clowns alive, now that the money printer stopped going brrr. They never had any plan to ever be profitable. Their business model was just to continue scamming investors with fake users and keep raising more billions, like the Pied Piper bot users. These are zombie companies, propped up by negative real interest rates for a decade. Let them die already.
You had me until the WeChat/ByteDance part.
lol WeChat who has a defacto government granted monopoly in exchange for all customer data being given to the government is going to drive the innovation?
Reddit’s new Contributor Program will let you cash out gold given to your posts by other users in *real money.
*Reality may vary
I’m suddenly reminded of when people used to give out doge coins as a meme
Doge is awesome though, I made tens of dollars from it. 😁
I really enjoyed the Doge community 7 years ago. It wasn’t serious so the community was actually welcoming. I did make like 5k cause of the musky asshat.
I probably gave out 100k Doge on Reddit back in those days.
So a user issue 2.50 to buy a gold, then the receiver can cash out 1.00. So Reddit aims to make 1.50 for every gold awarded
Absolute scam
Well to be fair, before this they got all of the money for a tiny picture. So in that light they scam a bit less now.
But of course this still is a stupid idea which will decrease whatever remaining quality Reddit has even more.
Time to set up that AI chatbot for passive income
They just saw that video on Roblox and said “yeah that sounds great, let’s do that”
They’re just copying Elon. To that end, the already clickbait-filled front page is gonna get worse and engagement farming is going to become as rife as ever.
It’s a desperate and cynical attempt to claw back users who appear to have left en masse after the API changes. Reddit is noticeably less active in smaller subs since July. And the larger subs have more or less consolidated themselves to a few power users.
How is this supposed to actually make them money? Remember, third party apps died for their profit incentives.
I’m guessing that they’ll sell Reddit Gold for money (or give subscribers a monthly stipend), then share a (small) portion of the money they made to contributors when they receive and then sell back said gold.
Third party apps cost a lot in terms of server usage but contributed nearly nothing in terms of value. Money changing hands is normally very profitable. Way more than ads.
The only way to know how much of an impact third party apps made on their profit is if we can see their revenue / profit figures. Plus, it’s their own fault that their official app is so damn bad compared to apps made by solo devs.
It definitely acted as a drag. Every API request was a cost without a way to make money
The real problem is that investors piled into reddit and bloated it into an unsustainable pile of death without knowing how it could make money.
Now they’re squeezing it for cash and will slowly kill it as a result. But at the end of the day you can’t just have a free open API because websites do cost money.
IMO. The problem is that reddit priced to kill the apps in order to serve your shitty microtransactions and track you to death. They could have had a slimmer site and a more reasonable price for the API, and that would have been fair.
The value was the content provided for free by the people, the company ran ads against that content and are now trying to sell it to AI companies to train their models against.
Server costs money to run. Company has to make money or it’ll go out of business. Either the people making the posts have to pay or the people reading do.
And apparently Reddit wants to pay people for their content now anyways.
I’m not rehashing this again, but there were many ways to tweak things, such as serving ads to the apps through the api, to charging a small reasonable fee to 3rd party app users. Instead they killed off the other apps.
I’m saying the people reading pay via ads, and outside companies pay for the content itself which breaks your false choice.
And apparently Reddit wants to pay people for their content now anyways.
I don’t think that’s because they want to.
Even if not a huge threat today, it’s pretty obvious that apps like Lemmy can completely replace Reddit for users. All Lemmy needs now is just enough critical mass of interactions like comments. Reddit has to come up with ways to keep people around because it’s core features are way too basic and replaceable.
They contributed lots in terms of value, just not straight up cash value.
schrute-bucks would have a higher exchange rate.
What’s the conversion to Stanley Nickles?
About three fiddy
God dammit, no, I said! You ain’t getting no tree fitty, you good-for-nothin’ Loch Ness Monster.
What about Skibidi dollars?
