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Reddit is killing blockchain-based Community Points (techcrunch.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
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Reddit is killing blockchain-based Community Points::Citing scaling issues, Reddit is shutting down its blockchain-based Community Points in favor of prioritizing other rewards programs.

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[–] 32 points 2 years ago (2 children)

Who could have known by 2020 that Blockchain is shitty tech that doesn’t scale well?

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  • [–] 21 points 2 years ago (2 children)

    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.

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  • [–] 9 points 2 years ago

    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.

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