Great, now they’ve turned karma whoring into a profitable enterprise. This will surely go well.
Oh good. Now they’re literally paying the karma-farming bots to spam recycled and stolen content. That will surely end well.
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
Reddit is getting into money laundering I see.
Bot apocalypse incoming
I can already imagine the YouTube grifter videos: “Make XXXX$ per day on Reddit with AI with only 10 minutes of work!”.
“passive income”
More like “massive con” I’maright? badum tss
- Make two accounts
- Pay gold to your second account
- Super upvote for 10¢
This will definitely not get used to boost shit spammy content. Nope. Not a chance.
It’s 90% cheaper than organic content.
One gold upvote costs $2, the recipient might get either $0.90 or perhaps $1. But most likely they’ll get nothing.
Oh woops, I misread that.
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.
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?
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?
New money laundering scheme?
Excited Chinese sounds
Indian*
I wonder if they’re all retarded. Like, what do they think is going to happen, there will suddenly be a bunch of totally not Chinese gold farmers posting content?
They may be the stupidest motherfuckers in existentiality.
Just look at Quora, you have your target nationality wrong. It’ll be flooded by Indian gold farmers. The vast majority of Chinese people don’t speak English. China has a parallel, disjoint internet to ours. India has the second-largest English speaking population in the world, due to British imperialism, and no Great Firewall.
This is the best summary I could come up with:
“In the past, there were both paid and free coins that had been distributed, making it incredibly challenging,” spokesperson Tim Rathschmidt said.
With the introduction of the Contributor Program, thanking a kind stranger for giving you gold takes on a new meaning.
Part of what makes Reddit so useful is that most great posts aren’t made with an expectation of payment, meaning that people share their expertise, a handy tip, or a funny joke just because they want to.
I’m also worried that bad actors might find ways to abuse the Contributor Program to earn a quick buck without actually making meaningful contributions.
The Contributor Program is also rolling out starting Monday, and it will be available on the web and Reddit’s mobile apps.
While the protests across the site over the API pricing have largely died down, some users expressed their unhappiness toward CEO Steve Huffman during the recent run of the r/Place interactive canvas.
The original article contains 778 words, the summary contains 156 words. Saved 80%. I’m a bot and I’m open source!
How is this supposed to actually make them money? Remember, third party apps died for their profit incentives.
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.
Reddit is so desperate for users they’re paying people to stay… but they don’t want to use their own money LOL
schrute-bucks would have a higher exchange rate.
