Reddit seems to be devoting a significant amount of resources towards "chasing bandwagons", where they're basically looking for something popular and external that they can hitch a ride on,...
Reddit seems to be devoting a significant amount of resources towards "chasing bandwagons", where they're basically looking for something popular and external that they can hitch a ride on, instead of just focusing on their own platform's strengths. Some other recent examples are the push with avatars (including going even harder in places like /r/fortnitebr with skin-like "badges" and memberships), adding betting through "predictions", selling emoji-reactions with awards, moving deeper into the TikTok space with their new mobile video player and acquiring Dubsmash, and so many other things.
This is an especially interesting one, particularly because of how much work they seem to have already put into it, while the NFT craze seems to be dying quickly. Make sure to check out the dedicated NFTs page, where it shows how heavily they've already integrated it into the avatar system, and also that they're already planning for things like different "rarities" of these avatars.
Also check out the actual auctions. At the time I'm posting, the bids are currently at about $1500, $2000, and $4000 (in Ethereum), with all three saying that the reserve price isn't met yet, so Reddit doesn't even want to sell them for as "cheap" as $4000 each. Edit: the bids are all at 4 ETH (~$8000) each now, and the reserve is reached on two of them, but not the pixelated one.
It's also strange to see this on the NFT page:
Today the CryptoSnoo NFT experience is built for Reddit desktop only. You can still display your CryptoSnoo NFT image as your Avatar on Mobile, but the overall experience is built for Reddit desktop first.
They've been treating mobile as the primary platform in a lot of ways, with many new features only available on mobile (and often only available on iOS specifically), so it's odd that this one is getting the opposite treatment.
You know that half-crazy uncle, desperate to make a buck, trying every little shady trick in the book telling you he found his new calling in crypto or some shit? This is what reddit feels like....
You know that half-crazy uncle, desperate to make a buck, trying every little shady trick in the book telling you he found his new calling in crypto or some shit?
This is what reddit feels like. Someone i know but absolutely cannot recognize because of how deep a hole they are in. I don't even want to get anywhere near them anymore because of how utterly disgustingly they behave now.
I dunno. I'm sure they'll make money but i can't imagine the kind of mental gymnastics some people still working there must be going through to justify what they have to do for a bit of cash.
Seems to be standard-issue for most social platforms these days to put mobile first. Makes sense, as they have the most users, but it still feels kinda shitty. At least when desktop platforms got...
They've been treating mobile as the primary platform in a lot of ways, with many new features only available on mobile (and often only available on iOS specifically), so it's odd that this one is getting the opposite treatment.
Seems to be standard-issue for most social platforms these days to put mobile first. Makes sense, as they have the most users, but it still feels kinda shitty. At least when desktop platforms got exclusive features it could be semi-justified by them being ostensibly more "advanced".
I would guess that the crypto demographic largely uses desktop computers; mining isn't suited to mobile. Hence the reversal of the trend in this instance.
These NFTs seem to be the modern adaption of I Am Rich. Buying items that do nothing simply for the status symbol of it. Digital opulence on display. I wouldn't mind if not for the absurd energy...
These NFTs seem to be the modern adaption of I Am Rich. Buying items that do nothing simply for the status symbol of it. Digital opulence on display.
I wouldn't mind if not for the absurd energy costs of some of these things.
I feel so out of the loop on this stuff, but part of me thinks that's a good thing. That said, I do wish that I'd have bought a few thousand bitcoin when I first heard about it way way way back when.
I feel so out of the loop on this stuff, but part of me thinks that's a good thing.
That said, I do wish that I'd have bought a few thousand bitcoin when I first heard about it way way way back when.
I think anyone who has been around for a while has some regrets like this. The first one I remember was not speculating in domain names during the early dot-com boom. I had a co-worker who sold...
I think anyone who has been around for a while has some regrets like this. The first one I remember was not speculating in domain names during the early dot-com boom. I had a co-worker who sold one for several million and retired.
At the time, it still seemed uncouth and sort of unethical to try to make money off Internet stuff. That changed pretty quickly.
Lessons learned:
The ways people make money have little to do with fairness. Don't expect payoffs to have much to do with effort. And unlike what people tell you, it can also have little to do with screwing anyone over. Sometimes it's just luck.
Don't beat yourself up over stuff that seemed like a long shot at a time.
It won't be the last time. Maybe invest a little bit of time and money into long shots that seem weird, but interesting. Most such bets won't pay off, but you never know.
It doesn't hurt to grab a tiny bit of everything interesting, especially if it's cheap and you don't need/expect a return. Then you can just let it ride. Put $50 into every crypto you're keen on,...
It doesn't hurt to grab a tiny bit of everything interesting, especially if it's cheap and you don't need/expect a return. Then you can just let it ride. Put $50 into every crypto you're keen on, for example. In two decades that tiny handful of coins could be worth a lot. Might help make up for all the ones that went bust, which is probably most of them.
One doesn't have to make big investments. Small ones are good too, and great for learning the ropes.
Reddit getting in on the crypto shitcoin trend too? SteemIt did it first... And unlike Reddit their attempt wasn't so half baked either. The problem with crypto is that we have far too many...
Reddit getting in on the crypto shitcoin trend too? SteemIt did it first... And unlike Reddit their attempt wasn't so half baked either.
The problem with crypto is that we have far too many cryptocurrencies now. Adding one more to the already oversaturated pile isn't going to help.
This kind of uses cryptocurrency as a platform, but isn't really a cryptocurrency itself. The comparison to steemit also doesn't make any sense, there's practically nothing in common between its...
This kind of uses cryptocurrency as a platform, but isn't really a cryptocurrency itself. The comparison to steemit also doesn't make any sense, there's practically nothing in common between its relationship to cryptocurrency and this one's.
Is that the problem with crypto? Not the terajoules of planet-destroying energy wasted on mining it? Not the fact people are getting scammed out of vast amounts of actual money using it? Not the...
The problem with crypto is that we have far too many cryptocurrencies now. Adding one more to the already oversaturated pile isn't going to help.
Is that the problem with crypto? Not the terajoules of planet-destroying energy wasted on mining it? Not the fact people are getting scammed out of vast amounts of actual money using it? Not the fact it doesn't even do what it's supposed to do and is really only useful for criminals and scammers?
I mean I think that there's lots of differently named pointless scams going around is pretty annoying but it's far from being the problem with crypto.
Reddit seems to be devoting a significant amount of resources towards "chasing bandwagons", where they're basically looking for something popular and external that they can hitch a ride on, instead of just focusing on their own platform's strengths. Some other recent examples are the push with avatars (including going even harder in places like /r/fortnitebr with skin-like "badges" and memberships), adding betting through "predictions", selling emoji-reactions with awards, moving deeper into the TikTok space with their new mobile video player and acquiring Dubsmash, and so many other things.
This is an especially interesting one, particularly because of how much work they seem to have already put into it, while the NFT craze seems to be dying quickly. Make sure to check out the dedicated NFTs page, where it shows how heavily they've already integrated it into the avatar system, and also that they're already planning for things like different "rarities" of these avatars.
Also check out the actual auctions.
At the time I'm posting, the bids are currently at about $1500, $2000, and $4000 (in Ethereum), with all three saying that the reserve price isn't met yet, so Reddit doesn't even want to sell them for as "cheap" as $4000 each.Edit: the bids are all at 4 ETH (~$8000) each now, and the reserve is reached on two of them, but not the pixelated one.It's also strange to see this on the NFT page:
They've been treating mobile as the primary platform in a lot of ways, with many new features only available on mobile (and often only available on iOS specifically), so it's odd that this one is getting the opposite treatment.
You know that half-crazy uncle, desperate to make a buck, trying every little shady trick in the book telling you he found his new calling in crypto or some shit?
This is what reddit feels like. Someone i know but absolutely cannot recognize because of how deep a hole they are in. I don't even want to get anywhere near them anymore because of how utterly disgustingly they behave now.
I dunno. I'm sure they'll make money but i can't imagine the kind of mental gymnastics some people still working there must be going through to justify what they have to do for a bit of cash.
Seems to be standard-issue for most social platforms these days to put mobile first. Makes sense, as they have the most users, but it still feels kinda shitty. At least when desktop platforms got exclusive features it could be semi-justified by them being ostensibly more "advanced".
I would guess that the crypto demographic largely uses desktop computers; mining isn't suited to mobile. Hence the reversal of the trend in this instance.
The timing of this move is really perplexing. This feels a lot like opening a massive Dutch tulip store in March 1637
Reddit's really grasping at nun-fungible straws to make a buck, huh?
These NFTs seem to be the modern adaption of I Am Rich. Buying items that do nothing simply for the status symbol of it. Digital opulence on display.
I wouldn't mind if not for the absurd energy costs of some of these things.
I feel so out of the loop on this stuff, but part of me thinks that's a good thing.
That said, I do wish that I'd have bought a few thousand bitcoin when I first heard about it way way way back when.
I think anyone who has been around for a while has some regrets like this. The first one I remember was not speculating in domain names during the early dot-com boom. I had a co-worker who sold one for several million and retired.
At the time, it still seemed uncouth and sort of unethical to try to make money off Internet stuff. That changed pretty quickly.
Lessons learned:
It doesn't hurt to grab a tiny bit of everything interesting, especially if it's cheap and you don't need/expect a return. Then you can just let it ride. Put $50 into every crypto you're keen on, for example. In two decades that tiny handful of coins could be worth a lot. Might help make up for all the ones that went bust, which is probably most of them.
One doesn't have to make big investments. Small ones are good too, and great for learning the ropes.
Reddit getting in on the crypto shitcoin trend too? SteemIt did it first... And unlike Reddit their attempt wasn't so half baked either.
The problem with crypto is that we have far too many cryptocurrencies now. Adding one more to the already oversaturated pile isn't going to help.
This kind of uses cryptocurrency as a platform, but isn't really a cryptocurrency itself. The comparison to steemit also doesn't make any sense, there's practically nothing in common between its relationship to cryptocurrency and this one's.
Is that the problem with crypto? Not the terajoules of planet-destroying energy wasted on mining it? Not the fact people are getting scammed out of vast amounts of actual money using it? Not the fact it doesn't even do what it's supposed to do and is really only useful for criminals and scammers?
I mean I think that there's lots of differently named pointless scams going around is pretty annoying but it's far from being the problem with crypto.