23 votes

Reddit adds "Community Points" on the Ethereum blockchain - used for purchases, memberships, tips, and reputation-weighted voting (in polls)

27 comments

  1. streblo
    Link
    Really says a lot about their target demographic. >.<

    Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin!). Neither Reddit nor moderators can take your Points away or decide what you do with them. It’s all up to you.

    Really says a lot about their target demographic. >.<

    15 votes
  2. [6]
    Deimos
    Link
    Did something significant happen with these recently? They've been doing this for about a year and a half now, they've only been available in a couple of subreddits:...

    Did something significant happen with these recently? They've been doing this for about a year and a half now, they've only been available in a couple of subreddits: https://tildes.net/~tech/or5/reddit_releases_community_points_tokens_on_the_ethereum_blockchain_awarded_for_posts_currently

    11 votes
    1. [5]
      talklittle
      Link Parent
      As far as I can tell, some recent rumors floating around about a larger rollout, but hard to say because the tweets they linked to have been deleted.

      As far as I can tell, some recent rumors floating around about a larger rollout, but hard to say because the tweets they linked to have been deleted.

      5 votes
      1. [4]
        Deimos
        (edited )
        Link Parent
        It's bizarre to see so much significance being attached to those tweets. The guy graduated from university a month ago and hasn't even started at Reddit yet, where he'll be as junior of an...

        It's bizarre to see so much significance being attached to those tweets. The guy graduated from university a month ago and hasn't even started at Reddit yet, where he'll be as junior of an engineer as you can possibly be. But people are writing articles about it and making stuff like this, like he's a luminary influencing the future of social media. The cryptocurrency space is so weird.

        Overall though, most of the major tech companies have projects tinkering with blockchain/NFT stuff right now because of the hype level. Zynga even announced a "VP of Blockchain Gaming" today. Almost all of it's not going to result in anything.

        Edit: and then I ran across this thread, where an advisor for Reddit explains how NFTs will make it so that you can get hired and start working at a job 60 seconds after applying. I genuinely don't understand how people can take this kind of thing seriously.

        13 votes
        1. HotPants
          (edited )
          Link Parent
          In Irrational Exuberance, Shiller covers a number of bubbles... tulips, railways, dot com stocks, housing... Tulips. As an investment asset. It was actually a thing. According to the Gartner Hype...

          In Irrational Exuberance, Shiller covers a number of bubbles... tulips, railways, dot com stocks, housing...

          Tulips. As an investment asset. It was actually a thing.

          According to the Gartner Hype Cycle, we might be near the peak, but according to my "it aint a bubble until Shiller publishes another revision of Irrational Exuberance with a new chapter dedicated to it" theory of bubbles, we may have more madness yet to come.

          Edit: Bored Ape Yacht Club NFTs are worth $250k each

          https://www.forbes.com/sites/tommybeer/2021/09/09/nfts-of-cartoon-apes-sell-for-over-24-million-in-sothebys-auction/?sh=bf17e6d13f9c

          5 votes
        2. Flashynuff
          Link Parent
          Here's an archived version of those tweets. That's hilarious. These tweets made it sound like it was something Reddit was rolling out SOON and this guy was going to be a BIG PART OF IT -- no...

          Here's an archived version of those tweets.

          The guy graduated from university a month ago and hasn't even started at Reddit yet, where he'll be as junior of an engineer as you can possibly be.

          That's hilarious. These tweets made it sound like it was something Reddit was rolling out SOON and this guy was going to be a BIG PART OF IT -- no wonder they're deleted now. Sometimes it seems like the only thing crypto folks are good at is hype.

          I have to admit I only posted this because I missed this the first time around and thought this was a new thing following the NFT bandwagon. Interesting that it doesn't seem to have changed much in the year and a half since it was announced

          4 votes
        3. streblo
          Link Parent
          Oh god. Wow what an ironclad system! /s Any time someone mentions using the blockchain to solve a human/physical problem I want to scream. Not sure if these people are professional grifters or...

          Edit: and then I ran across this thread, where an advisor for Reddit explains how NFTs will make it so that you can get hired and start working at a job 60 seconds after applying. I genuinely don't understand how people can take this kind of thing seriously.

          Oh god.

          The web3 enabled internet will give you quests, adventures and courses to prove your worth

          You'll learn and earn on-chain credentials

          You’ll use your credentials to prove who you are, what your skills are and what people say about you

          You can't hide from the blockchain ;)

          Wow what an ironclad system! /s

          Any time someone mentions using the blockchain to solve a human/physical problem I want to scream. Not sure if these people are professional grifters or just unable to think critically about their problem whatsoever.

          4 votes
  3. [14]
    tomf
    Link
    to save some clicks through their little story about what I believe to be gold 3.0.

    to save some clicks through their little story about what I believe to be gold 3.0.

    What are Community Points?
    Community Points are a way for Redditors to own a piece of their favorite communities. As a unit of ownership, Points capture some of the value of their community. They can be spent on premium features and are used as a measure of reputation in the community.

    Get rewarded for your work

    People earn Points by contributing to the community, for example by submitting quality posts and comments. Based on these contributions, the community ultimately decides how many Points each person receives.

    Hoard your Points, or put them to use

    Save your Community Points, or use them to access exclusive community features such as badges, custom emojis, and GIFs in comments.

    Complete control, like Bitcoin

    Your Community Points exist on the blockchain, independently of Reddit, where they can only be controlled by you (just like Bitcoin!). Neither Reddit nor moderators can take your Points away or decide what you do with them. It’s all up to you.

    For the community, by the community

    Community Points are a tool for communities to customize in their own way. They choose what to call their Points, what they look like, and how they are used in the community. We are looking forward to working with communities to see what is possible for them to do with Points.

    6 votes
    1. [13]
      teaearlgraycold
      Link Parent
      Why would you bring market economics into posting in a community forum? This is a terrible idea.

      Why would you bring market economics into posting in a community forum? This is a terrible idea.

      16 votes
      1. [2]
        cfabbro
        Link Parent
        VCs want returns. https://www.crunchbase.com/organization/reddit/company_financials

        VCs want returns.

        https://www.crunchbase.com/organization/reddit/company_financials

        Total Funding Amount $1.3B

        13 votes
        1. teaearlgraycold
          Link Parent
          If you’re a VC and think Reddit has some massive untapped financial potential I have bad news for you…

          If you’re a VC and think Reddit has some massive untapped financial potential I have bad news for you…

          12 votes
      2. [4]
        tomf
        Link Parent
        I'd love to see the meetings that lead to these reddit announcements.

        I'd love to see the meetings that lead to these reddit announcements.

        5 votes
        1. [3]
          teaearlgraycold
          Link Parent
          I’m imagining the Wolf of Wall Street office hype up scene but with tech bros chanting blockchain.

          I’m imagining the Wolf of Wall Street office hype up scene but with tech bros chanting blockchain.

          9 votes
          1. JXM
            Link Parent
            I think it’s more American Psycho business card scene but they’re just coming up with stupider and stupider ideas until someone says something so colossally stupid that they all agree it’s a great...

            I think it’s more American Psycho business card scene but they’re just coming up with stupider and stupider ideas until someone says something so colossally stupid that they all agree it’s a great idea.

            2 votes
          2. tomf
            Link Parent
            haha -- that would explain it. Like they have a list of top searches for Google and say 'we gotta build these things.'

            haha -- that would explain it. Like they have a list of top searches for Google and say 'we gotta build these things.'

            1 vote
      3. [5]
        meff
        Link Parent
        Reddit already does; it's called karma. People already heavily optimize their posting around the karma it will incur. As long as individual communities can choose what to do with these points, I...

        Reddit already does; it's called karma. People already heavily optimize their posting around the karma it will incur. As long as individual communities can choose what to do with these points, I don't think it's bad (for now).

        1. [4]
          teaearlgraycold
          Link Parent
          Because this new karma is on the ethereum blockchain you can buy and sell it. You can’t do that with old school karma. So community features gated by this new feature can all be bought for USD.

          Because this new karma is on the ethereum blockchain you can buy and sell it. You can’t do that with old school karma.

          So community features gated by this new feature can all be bought for USD.

          7 votes
          1. [3]
            meff
            Link Parent
            I mean, you can already buy accounts with lots of karma online. It's trivial to do so. Isn't this just doing away with the middle steps and just making it bare? And what if a community wants to...

            I mean, you can already buy accounts with lots of karma online. It's trivial to do so. Isn't this just doing away with the middle steps and just making it bare? And what if a community wants to use USD or <CUR> as a way to participate? Maybe have folks in a small sub buy rewards and have the community points fund a Minecraft server/group of servers? Have folks accumulate points to engage in a group buy? Fund a community project? None of this bothers me as long as it's something that communities can clearly and easily control.

            1 vote
            1. [2]
              teaearlgraycold
              Link Parent
              I don’t know. There’s an air of anarcho-capitalism to this.

              None of this bothers me as long as it's something that communities can clearly and easily control.

              Neither Reddit nor moderators can take your Points away or decide what you do with them. It’s all up to you.

              I don’t know. There’s an air of anarcho-capitalism to this.

              4 votes
              1. meff
                Link Parent
                Shrug, I don't know what to say. I don't like to assign political valences to everything. Living in fear of differing or opposing ideologies doesn't seem like a productive way to live; it seems to...

                I don’t know. There’s an air of anarcho-capitalism to this.

                Shrug, I don't know what to say. I don't like to assign political valences to everything. Living in fear of differing or opposing ideologies doesn't seem like a productive way to live; it seems to reduce life into camps. I tend to trust before I mistrust, it brings me happiness.

                In my mind, as long as communities have clear methods to control use of these Community Points (including banning their use in the community), then I don't see an issue here. Allowing communities to do what they want is a good thing to me. If the rollout ends up forcing communities to use these Points and add commercial dynamics where there is no desire to, that's when I'd be angry.

                1 vote
      4. hamstergeddon
        Link Parent
        It is, but it's a fascinating idea. Annoying to see happen on a site that I regretfully frequent, but will be interesting to watch until it fails.

        It is, but it's a fascinating idea. Annoying to see happen on a site that I regretfully frequent, but will be interesting to watch until it fails.

  4. [3]
    vegai
    Link
    Are they oblivious to the fact that pretty much exactly this has been tried already by many reddit clones, some even formed exactly around this idea, and all of them pretty much failed? I don't...

    Are they oblivious to the fact that pretty much exactly this has been tried already by many reddit clones, some even formed exactly around this idea, and all of them pretty much failed? I don't even remember any of them by name any more, but I'm certain several existed 3-5 years ago.

    6 votes
    1. knocklessmonster
      Link Parent
      Reddit has something these sites didn't: A large, established audience.

      Reddit has something these sites didn't: A large, established audience.

      15 votes
    2. spacecowboy
      Link Parent
      One example is steemit.com - the ranking of content is based on how many tokens each voter holds. Whenever I looked at it I had an impression that all activity is focused on token farming and not...

      One example is steemit.com - the ranking of content is based on how many tokens each voter holds. Whenever I looked at it I had an impression that all activity is focused on token farming and not on great content curation. Lots of meta content talking about how to earn tokens.

      3 votes
  5. Flashynuff
    Link
    Since I was confused by this as well, it sounds like the only place that "Community Points" gets you any advantage is in Poll posts. It doesn't seem like it interacts with the vote-based display...

    Since I was confused by this as well, it sounds like the only place that "Community Points" gets you any advantage is in Poll posts. It doesn't seem like it interacts with the vote-based display order of comments or posts at all.

    3 votes
  6. [2]
    Bullmaestro
    Link
    Ugh, if you want a blockchain-controlled social news aggregator, Steemit is that way. Granted, Steemit isn't very good for content and is just full of spammers trying to milk as much shitcoin out...

    Ugh, if you want a blockchain-controlled social news aggregator, Steemit is that way. Granted, Steemit isn't very good for content and is just full of spammers trying to milk as much shitcoin out of the platform as possible.

    I thought Reddit would know better than to turn internet points into damn NFT's.

    2 votes
    1. lou
      Link Parent
      Maybe because I have localization blocked, this site only shows me posts in what I can only assume is Mandarin :P

      Maybe because I have localization blocked, this site only shows me posts in what I can only assume is Mandarin :P

      1 vote