Read all about it at the above link. There’s way too much to process here. This is going to be wild.

  • illi@lemm.ee
    link
    fedilink
    English
    arrow-up
    78
    arrow-down
    1
    ·
    edit-2
    1 year ago

    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?

    • Cheshire@feddit.de
      link
      fedilink
      arrow-up
      44
      ·
      edit-2
      1 year ago

      I don’t think you’re missing anything.

      It’s just tradable karma on the blockchain.

    • Stumblinbear@pawb.social
      link
      fedilink
      arrow-up
      3
      ·
      edit-2
      1 year ago

      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

      • illi@lemm.ee
        link
        fedilink
        English
        arrow-up
        2
        ·
        1 year ago

        So you can basically cash out if I understad you correctly?

        • Stumblinbear@pawb.social
          link
          fedilink
          arrow-up
          3
          ·
          1 year ago

          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

          • audaxdreik@pawb.social
            link
            fedilink
            arrow-up
            5
            ·
            1 year ago

            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.

            • Corgana@startrek.website
              link
              fedilink
              arrow-up
              2
              ·
              1 year ago

              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.

              • CoderKat@lemm.ee
                link
                fedilink
                English
                arrow-up
                2
                ·
                1 year ago

                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.

            • Stumblinbear@pawb.social
              link
              fedilink
              arrow-up
              1
              ·
              1 year ago

              Yeah it’s a pretty lame system. It also incentivizes downvoting everyone so you get more of a share of the distributions

          • Ganrokh@lemmy.world
            link
            fedilink
            arrow-up
            2
            ·
            1 year ago

            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.

    • beebarfbadger@lemmy.world
      link
      fedilink
      arrow-up
      2
      ·
      1 year ago

      “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.”