Excerpts from the link:
Fake internet points are finally worth something!
Now redditors can earn real money for their contributions to the Reddit community, based on the karma and gold they’ve been given.
How it works:
- Redditors give gold to posts, comments, or other contributions they think are really worth something.
- Eligible contributors that earn enough karma and gold can cash out their earnings for real money.
- Contributors apply to the program to see if they’re eligible.
- Top contributors make top dollar. The more karma and gold contributors earn, the more money they can receive.
Not just anyone can be a contributor. To join and stay in the program, contributors need to meet a few requirements:\
- Be over 18 and live in the U.S.
- Only Safe for Work contributions qualify
- Earn xx gold and karma each month
- Provide verification information. You must have at least 10 gold and 100 karma to begin verification.
- NSFW accounts aren’t eligible for the Contributors Program
Here’s my take on this. Since this is from the latest version of Reddit’s broken browser for a single site “official app”, it’s likely a recent development, triggered by recent changes in the platform. Reddit Inc. is likely worried about contributors leaving due to the app-pocalypse, and is trying to counter it by throwing them some spare cash.
And I’m going to be honest: holy fuck this sounds like a Bad Idea®. For three reasons.
The first one is demographics; since 47% of the users are Americans, and 21% of them are 10-19yo, it’s safe to say that ~60% of the users are ineligible, and thus will only contribute for free.
Will they? People often don’t mind contributing for free, as long as the others are in the same page. The picture changes once you get at least someone making money out of it - odds are that those 60% will disengage further.
The second reason is that Reddit Inc. is disregarding the fluff principle. If the money threshold is the number of upvotes and awards that someone gets per period of time, why would the person bother with high quality content? Or even quality content at all - it’s easy to make up for lack of quality with quantity. For example, setting up a simple bot to scrape the top posts and repost them. (Is Reddit expecting the mods to delete those reposts? OH WAIT)
The third and final reason is who you expect to give awards to those people, before they feel pissed and discouraged and leave the program, breaking even further their trust in the platform. Who would even buy Reddit gold on first place? The Reddit community has been outright mocking Reddit gold for years, and the suckers actually buying it were the ones who were the most engaged and emotionally attached to the platform, to the point that they’re willing to “help” it. (As if corporations need help, but whatever.) It would be a shame if Reddit happened to piss off exactly that demographic… like it did.
Congrats to the themed/novelty accounts like the person who posts the watercolors, Shittymorph, Snoodle, and the others who regularly post highly upvoted content. I’d add PoppinKream, but they’re here now.
None of those novelty accounts were really great content though, so I don’t see how paying them helps at all.
I don’t see how they can avoid an algorithm that doesn’t pay them is the point. Apparently the key factors are gold and upvotes on a regular basis, which they all get.
I don’t think Reddit gives a crap about the quality, they just want stuff that makes people stay engaged. It’s a terrible approach though. One thing I’ve learned as a manager is that if your make a specific reward system, smart people will optimize how to get the most reward for the least effort. With this one, I can envision all sorts of things that will ultimately result in shitty content, like more repost bots, communities that make pacts to upvotes each other’s stuff, gobs of alt accounts, people trying even harder to make the funny zinger comment that adds nothing, etc.
“Becareful of what you measure”
Shittymorph is here too
Really? I haven’t seen that, that’s awesome!
Ask these websites are suddenly trying to figure out how to actually make money 😂 it’s just not gonna happen. It never was.
Be over 18 and live in the U.S.
And here I thought I could still get some money out of my Reddit account. Damn you, America
- Earn xx gold and karma each month
“Thank you for all your passion driven volunteer work. Let us reward you with slavery”.
Don’t knock it 'till you’ve tried it!
-spez, presumably (while slipping you a non-terminatable contract)
Aside from the valid points made by other comments, giving Reddit even more information (how else are they going to verify your age? Copy of driver’s license would be my guess) is just asinine. At this point, if you’re still on Reddit and you sign up for this you deserve what you get.
Eliminate 3rd party tools, try to force people on to a terrible app with a shitty interface, and then incentivize the content farms. A recipe for success if ever I’ve heard one.
You know what might have been a better idea? If they’d offered a profit sharing agreement to third party apps through some sort of affiliate program that allowed them to sell gold and split the revenue. They could even have kept the obscene api rates for AI scrapers by giving a massive discount to affiliated apps. This way reddit would get the revenue it was missing out on, users could support their preferred app while also giving money to reddit, and really, everybody wins.
But then spez wouldn’t get to be Elon jr, so that obviously wasn’t going to work.
This reminds me that overquoted start of Marx’s The 18te Brumaire of Louis Bonaparte: “Hegel remarks somewhere that all great world-historic facts and personages appear, so to speak, twice. He forgot to add: the first time as tragedy, the second time as farce.” It’s basically what’s happening here - Musk has been nothing but a tragedy for Twitter and its users; but now you got someone to do the same stupid moves in Reddit because he’s trying to follow Musk’s steps, while disregarding completely how different both situations are:
- Musk owns Twitter. Huffman doesn’t own Reddit. Shareholders can still force the later to do their bidding, and he doesn’t have enough money to throw into a problem to make it go away.
- Twitter is not undergoing IPO. Public image for Reddit is considerably more important than for Twitter.
- In Twitter, as long as you “anchor” certain people to the platform, you can keep it relatively exodus-free. The same does not apply in Reddit as, contrariwise to what Huffman wants to believe, it is not the same sort of social medium as Twitter or Facebook, it’s far more content-centric.
- Twitter does not rely structurally on the contribution of unpaid volunteers.
You know what might have been a better idea? […]
That would work better even in the short run. Or, since the issue with 3PA is adbux, force them to get some ads alongside the API access, and then create a “premium” tier (no ads, but then you got to pay a lot for API access). And then actually work on the development of that shitty official app, to discourage usage of the 3PA the “right” way. But that would require some hindsight that Huffman simply doesn’t have, as well as stop diverting manpower to stupid shit like chat and livestream and “we’re the next Facebook!” tier stuff.
Finally. I’ll be able to determine exactly how many bored apes my upvotes are worth!
Ah fuck, my upvotes have been funged!
Also, it really feels like reddit demotes older, higher karma accounts these days. I have one which is close to a million karma and 13+ years old and it’s a grind to get upvotes on it. If I use the same methodology on younger accounts it’s legitimately like a 10x difference in karma production.
But either way, I will never attach my real name to a reddit account anyway, so this is pointless anyway.
That’s a bold strategy Cotton, let’s see how it works out for them.
deleted by creator
They have been taking about this for ages too. Originally it was supposed to be crypto and posting would be effort/stake. Which was an interesting idea tbh. Rumor was that the lawyers nixed the idea but I never bought that. It was definitely just that reddit burns through investor cash in stupid ways.
r/crypto actually implemented it. I made about $80 off of like 2 highly upvoted comments. Some people made a few grand off of it.
If you check the mods on that sub, some have north of $100k at the current exchange rate.
and is trying to counter it by throwing them some spare cash.
Reddit has no spare cash, Steve has pissed away better than three quarters of a billion dollars in venture capital. It’ll probably be RedditBux or an NFT or something.
This was to be expected when Reddit’s board, u/spez, and his lackeys insulted & chased away users & mods.
fuck Reddit’s board. fuck u/spez, and his lackeys.
I’d bet good money it’s the latter. Huffman strikes me as the type that thinks NFTs are worth something. Fucking idiot.
They already did NFT avatars, but they came out after the big backlash against NFTs so they called them by another name and left the NFT part out of the description.
Steve thinks everyone else is dumb and he’s the only smart one. Thus proving ignorance is bliss.
It’ll probably be RedditBux or an NFT or something.
The “US only” restriction makes me think that they’re actually planning to pay those people in dollars.
He’s dumb enough to think the SEC can regulate crypto worldwide though.
This is just going to encourage even more spammy, low quality, easily consumable clickbait content.
Good luck, Steve.1 bot reposts something.
1000 more bots upvote and give it awards to get it on front page.
Take cash
Repeat
This was already happening without the “direct from reddit” incentive. I can’t imagine how bad it’s going to get
Same thing happened with Quora, iirc. They started offering incentive for people to post a lot of questions, so now the app is flooded by complete junk.
I think there were 0 instances of Quora being useful when I search for things. At this point I just ignore Quora results completely, just because chances are whatever is on there are just shills and word salad people.
Honestly the most I’ve seen Quora used was by an immigrant at work as basically his preferred social media.
If I said this on Reddit, the demographic probably wouldn’t have got it, but maybe most folks here will:
Quora is just the new Yahoo Answers.
Feeling old yet? 😗
A friend (asshat bully) used to talk on quarra/yh-answers back in the 2010s, he used it like urban dictionary, that kind of toxic (fun?)
“How to make barnie’s head explode?” And other fun goodies
Quora became king of useless answers after Yahoo Answers died. They were Quoronated, if you will.
Now they need to be quorantined
my school bully on the school computers
Types out question while snickering:
vulgar
“How to eat your own hand and feed your poop to barney”
Searches and finds
vulgar
“Dora sits on a live garnade and it goes up her butt”
Followed by uncontrolled laughter and mabe a response.
If anything scares me, its him
Yep. Believe it or not, there was a time when Quora was pretty decent. This is what happens when you try to boost engagement by offering cash incentives. It becomes quantity over quality.
Oh, kinda sounds like what happened to journalism too, eh?
There was a time, maybe 8-10 years or so ago, when you would actually find good and well-reasoned answers from qualified people on there. But now it got so bad that I added Quora to my search results blocklist addon.
what addon is that ? I still remember when Google removed the option to ignore sites from their SERPs!
I’m using this https://addons.mozilla.org/en-US/firefox/addon/ublacklist/
cheers
I wonder if after this Silicon Valley realizes that there’s no infinite growth/money/potential and stops trying to position shit as such. Just make a product that holds up and doesn’t fold like a house of cards when it finally is being monetized.
Edit: And as a totally separate point, think about the mods! Loads of more work and zero pay while spammers “get rich”.
Edit: And as a totally separate point, think about the mods! Loads of more work and zero pay while spammers “get rich”.
“Those are landed gentry. We the King of Reddit, Steve “Jailbait Mod” Huffman, are free to decide whom We shall benefit”.
On the Silicon
HoleValley: they’re probably aware of that, so the strategy is to cash out before you hit the cap.Because people don’t live that long, stay in the same place long enough to suffer their own short term consequences.
They can wait you out. They also make others usefull idiots that install their computers that do things for their true masters. They get others to violate your rights.
“Smart things” rant: Ads can be thoght of as propaganda, psycological war tactics. “Smart” things are pushed on (at least) amaricans really intensely. Building these really sexy displays as close to the front as possable (pushing unsposored otems to the unsexy isles) showing this omnipotent caring girlfriend in a small box some come with a monitor. Saying “Hi, im alexa. This is a small but high quality speaker I can talk to you from… (im verry buisness casual but will show my compassion)” Thats the carrots, what about the sticks? Its Burrying the inventory or the idea of the non “Smart” products. “People are too stupid or lazy to look for whats not right in front of them” - some psycologists… I think . The idea that your security cameras need to be “Smart” or it will be bulky and the footage is going to “the cloud” because where else would you put it? A cheep flash drive?
No. There’s too much money attached to it to stop.
The reality is, the Valley is capitalism on speed, but it’s still capitalism. All the underlying mechanisms are the same as in the “conventional” economy, just turned up to 11.
In other words: “Please bot our site to artificially push your karma points”
As if Reddit didn’t already have issues with karma bots…
Yes, but now there is a monetary reason for doing so.
No, account selling has always existed.
Whew, I instantly feel validated in my decision to leave Reddit. If this gets applied it will encourage a bot apocalypse in Reddit, which is already something they’re struggling with.
Good. Spez is going to take the Elon route: doing everything absolutely the wrong way because they’re out of touch with reality. A bot apocalypse would continue to help drive people away from Reddit, which 100% needs to happen at this point.
I didn’t expect the validation to be this immediate, but here we are.
Hehe, here we thought it could take months, even years. Meanwhile, it’s still July, which makes me curious to hear which fresh batch of hell will come in the second half of this month, and especially August! :-P
It makes me curious on what the traffic and ad revenue numbers they’re seeing are.
The boom will come before the bust.
I think you meant to say “Yay, there will be ‘content’ there once again”?
“Shit, the people who actually cared about the platform and contributed good content are leaving. Quick, throw money at the problem instead of fixing the issues we created!”
“How to worsen self-inflicted wounds” by the brain trust of Reddit’s board + u/spez.
Can’t trust the judgement of a guy who modded for r/jailbait.
It’s possible that someone else made him the moderator of that sub, but this shit still makes me laugh every time that I see it. Steve Huffman, someone so deeply interested in jailbait that he’d even mod a comm about it!
Didn’t he invite violentacres to a staff party and give him a special award?
The caveat there is that at the time there wasn’t a invite system. You’d just add mods. So him getting modded there isn’t as big a deal as one would think.
The fact that it wasn’t banned until after he was long gone and only then after a CNN piece on it, that should raise an eyebrow.