Reddit is going to sunset its current coins and awards systems, meaning you won’t be able to buy Reddit Gold for posts you like. However, it is working on a new system for awards.
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idk how else to express my appreciation for this except to tell you that I gazed upon it with love and admiration for a good minute, long enough that I made my own self uncomfortable with how happy this goofy picture made me. It feels like a true representation of the casual, homemade, “let’s just try it!” vibe of lemmy. This is beautiful, thank you.
I’m okay with Alemmynum, I’m pretty low cost.
That would be Alemmynium in British English
This is specially funny given that aluminium used to be damn expensive in the 19th century. It was mostly obtained by reacting aluminium chloride with alkaline metals back then.
In other words: we’re back to the roots! Who cares if gold this, gold that, alemmynium is more precious and useful!
“Thank you kind stranger!”
/s
Based on code in the Reddit’s Android app, Reddit appears to be working on a “contributor program” that would let users cash out gold or karma (basically, points you get for posts, comments, or giving awards) they receive into real money.
So rather than start paying the volunteer moderators that keep their site running, Reddit is going to pay the repost bots and low-effort karma farmers? Surely that will improve the quality of content on the site… /s
Yea … all around, it’s looking more and more likely that big social may become something rather embarrassing and dystopian.
The best reason I can think of for why big social is going to die is that it was born out of a particular economic environment that either inaccurately assessed the technological-financial situation or just doesn’t exist anymore. Namely, that having a bunch of users on your platform and the data that follows will always magically just produce a profitable business model such that blindly investing in such a business is an obvious move.
I’m guessing that big social just isn’t that profitable, or is only profitable at the sort of mega monopoly level that facebook and google operate at, but even then risks fading over time due to how social spaces are generational. And that the belief that big social was super profitable was born out of a vague big data web2.0, that convinced itself it had found the new oil.
Beyond that, throwing VC cash at big-data businesses may just not be something anyone believes in any more, partly because of the above, and partly, I’m wondering, because the power of actually creating new technology and new types of platforms has always been a bigger business prospect and AI and chatGPT has basically forced the tech world to remember that.
If I’m on to something, the awkward thing for Twitter and Reddit is that their finances and corporate structures are probably bound up in the older presumptions and have no choice but to do their best to return on the promised profits, however dumb they look, while the rest of us can easily and happily move on, because that’s what the internet is fundamentally about.
Facebook/IG have certainly made a ton of money. Twitter and reddit haven’t I believe because they’ve been less aggressive about monetizing their data, and having a site with content attractive to advertisers. This also attracted users who were on Twitter or reddit because they weren’t doing what FB does, which I guess makes it difficult to increase monetization.
And all that after killing any automated moderation that utilized public API
The amout of shooting themselves in the leg is through the roof
Can’t wait for more NFT shit to replace it, mark my words
This comme et deserves some Lemmy Gold 🏆
FFS, NFT’s aren’t dead yet?
A lot of people are saying this is another reaction from /u/Spez, he doesn’t like that “fuck /u/Spez” posts keep getting all the rewards.
I was getting awards for this lol:
Oooh mommy
I just went and gilded a bunch of fuck u/spez posts with gold I apparently had but never bought
People could reward gold, or was it that you got gold for receiving rewards, one of the two, maybe both.
After they introduced several other awards except gold, the awards completely lost its meaning (and value) in my eyes. I still remember the bliss I felt the day I discovered Apollos “hide awards”-setting.
It wasn’t that bad, gold just signals that the comment is good (intensity), but some of the other awards made explicit the way in which it is good (hue/flavour) e.g. funny, informative, creative…I actually liked the award system (even if I always was a bit suspicious of who was giving them and what their intentions were)
I remember when people on Reddit would downvote immediately if someone used an emoji in the comments and then proceeded to pay for awards that are pretty much just emojis.
Are we taking bets on what’s coming next?
My money is on disabling old.reddit.com
Removed by mod
Not even just getting rid of it, they’re retroactively removing all awards already given to posts
WTF? Like, I never bothered with the things, but why would they go to the trouble of stripping them out? Somethings weird about that.
Sounds like they’re just ripping the code out entirely. It’s absolutely insane. At the very least leaving them on old posts should be the minimum.
Reddit has also started to rate limit websites like teddit.net , libreddit* thus rendering then useless
To be fair they’re attempting to rehost reddit.net’s content, right?
Yeah, I’d limit them too.
Not saying everything reddit is doing is great, but at least that one makes sense.
If you disagree with reddit, the best thing to do is cut the cord, not to continue using them in other formats. The only reason to use reddit is to tell people about alternatives.
CEO: Is this part broken yet?
Lackey: No sir.
CEO: Well then grab a sledgehammer and get crackin!
I don’t care about the awards that much but Redditors do a lot. This decision will piss off Redditors.
Since when have they given a shit about that?
Well that seems to be the goal over there
What’s Reddit?
What is Reddit…
… Baby, don’t hurt me! Don’t hurt me! No more!
I’m starting to think Spez is depressed. He probably had visions of being a Billionaire tech bro by now like Zuckerberg and Musk. His only thought these days seems to be how to monetize Reddit, regardless of how he destroys it.
If he’d had any insight, he’d have realized Reddit’s structure wasn’t a good vehicle for monetization and gone the way of Wikipedia/Jimmy Wales. He’d be popular and respected now and probably able to extract a decent living from it.
But his insistence that a square peg be pounded into a round hole will end up with him being neither popular nor respected—and he’ll never sniff that moonshot IPO.
I think the advertising it can do is a perfectly reasonable way to monetize…
Their problem is they want to be some major player and not a “right sized” organization… They want to go public and try to be billionaires and be like elon or zuck, but it’s just not going to be that.
So in their quest for GREED they’ll destroy the very thing that can make them absolute massive amounts of money. It’s crazy how many mega corps have fallen to the same fate.
They should welcome 3rd parties and any other means to see reddit and monetize the advertising… Hell they could even try to work streaming deals with NFL and NBA and whatever… Cowboys games live threads alone have caused the entire reddit website to collapse lol.
SOOO much monetization possibilities in that. And it’s charging billion dollar organizations… not the people that use the service…
Spez is not a good business man
Nobody here cares! It’s the best!
Tomorrow: Reddit removes the sharing and reading posts and subreddit features.
