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On the other hand /r/cryptocurrency introduced "moons" as tipping mechanism and the quality of the discussions went downhill really quick. Nowadays, there's lot

On the other hand /r/cryptocurrency introduced "moons" as tipping mechanism and the quality of the discussions went downhill really quick. Nowadays, there's lots of sob stories or random posts about how a person just bought in to some random coin, personal anecdotes, etc. I think whatever tipping is implemented needs to be pretty much worthless (aka mostly symbolic), otherwise, people will just spend a lot of their time just trying to game it. In many parts of the world, even making a couple dollars a day is more than they would make in their local economy.

radicalriddler 5y ago
This is just how those forums end up during these massive market increases (or bubbles if you so feel inclined). I remember back in 2017/18 /r/cryptocurrency it was a lot of sob stories and anecdotes mixed in with a bunch of pump and dump shilling.
anonytrary 5y ago
I, too, have noticed this in /r/cryptocurrency. Lots of posts that are just obviously trying to farm moons with generic popular opinions. Meanwhile, the mods are getting a salary in moons. Really interesting stuff, for sure. Back in the dogecoin days, this wasn't an issue because it was purely for the memes. Sending someone a few thousand doge as a meme tip cost you a few dollars at most, and that point the karma was worth more than the doge itself. Looking back, those tips now equate to thousands of dollars!
- nasmorn 5y ago
  Like giving someone tulips as a present in 1637 and then finding out there is a tulip mania and had you grown new ones from the seeds you would be a millionaire. Some things never change.
  - tom_mellior 5y ago
    The famous 1636/1637 tulip mania (such as it was) lasted just a few months over the winter, collapsing in February. There was no time to grow anything in that period.
meowkit 5y ago
Well it did tone down the aggressive argumentation, shill shrieking, negative behavior, etc. in the subreddit. At the cost of what you already stated. People are being more performative and excessively positive/empathetic/comedic to farm moons. I mean it makes sense - a monetary incentive for good (at least superficially) behavior. Same as the physically world.
CryptoPunk 5y ago
Quality on /r/cryptocurtency was always very poor. Moons improved the quality, if anything, excepting the rise in sob stories you mention. Moons also allowed a lot of people to get paid for their Reddit activity. For people living in the developing world, this has in some cases been a life-changing sum.
- trompetenaccoun 5y ago
  Nope, quality went down a lot with even more unfunny memes and reposts than previously thinkable. Moons made it worse, just like donuts ruined ethtrader (and even lead to most of the users leaving starting their own sub). Of course that won't stop reddit to roll crypto tokens out side wide.
  - CryptoPunk 5y ago
    /r/CryptoCurrency has never been more active, and while much of that could certainly be attributed to the recent price gains, going from 500 comments a day in Jan 2020 to 40,000 comments a day today is more than can be explained by just the price. So objectively speaking, CryptoCurrency is more appealing/engaging now than ever before. The only question is how much of that can be attributed to Moons. As for /r/EthTrader, the split happened before donuts were even launched, and that was due to a smear campaign that was run against them by a few influential users. EthTrader saw rapid growth in subscribers after donut introduction, and is today one of highest subscriber crypto forums. So I do think Reddit rolling out Ethereum-based ERC20 tokens site wide makes sense from an engagement perspective, and will also go a long way in enabling more decentralized and distributed ownership structures, that allow for more effective economic coordination. If Reddit successfully executes on the plan, it will also mean hundreds of millions of people having a new source of income.

radicalriddler 5y ago

This is just how those forums end up during these massive market increases (or bubbles if you so feel inclined). I remember back in 2017/18 /r/cryptocurrency it was a lot of sob stories and anecdotes mixed in with a bunch of pump and dump shilling.

anonytrary 5y ago

I, too, have noticed this in /r/cryptocurrency. Lots of posts that are just obviously trying to farm moons with generic popular opinions. Meanwhile, the mods are getting a salary in moons. Really interesting stuff, for sure. Back in the dogecoin days, this wasn't an issue because it was purely for the memes. Sending someone a few thousand doge as a meme tip cost you a few dollars at most, and that point the karma was worth more than the doge itself. Looking back, those tips now equate to thousands of dollars!

nasmorn 5y ago
Like giving someone tulips as a present in 1637 and then finding out there is a tulip mania and had you grown new ones from the seeds you would be a millionaire. Some things never change.
- tom_mellior 5y ago
  The famous 1636/1637 tulip mania (such as it was) lasted just a few months over the winter, collapsing in February. There was no time to grow anything in that period.

meowkit 5y ago

Well it did tone down the aggressive argumentation, shill shrieking, negative behavior, etc. in the subreddit. At the cost of what you already stated. People are being more performative and excessively positive/empathetic/comedic to farm moons. I mean it makes sense - a monetary incentive for good (at least superficially) behavior. Same as the physically world.

CryptoPunk 5y ago

Quality on /r/cryptocurtency was always very poor. Moons improved the quality, if anything, excepting the rise in sob stories you mention. Moons also allowed a lot of people to get paid for their Reddit activity. For people living in the developing world, this has in some cases been a life-changing sum.

trompetenaccoun 5y ago
Nope, quality went down a lot with even more unfunny memes and reposts than previously thinkable. Moons made it worse, just like donuts ruined ethtrader (and even lead to most of the users leaving starting their own sub). Of course that won't stop reddit to roll crypto tokens out side wide.
- CryptoPunk 5y ago
  /r/CryptoCurrency has never been more active, and while much of that could certainly be attributed to the recent price gains, going from 500 comments a day in Jan 2020 to 40,000 comments a day today is more than can be explained by just the price. So objectively speaking, CryptoCurrency is more appealing/engaging now than ever before. The only question is how much of that can be attributed to Moons. As for /r/EthTrader, the split happened before donuts were even launched, and that was due to a smear campaign that was run against them by a few influential users. EthTrader saw rapid growth in subscribers after donut introduction, and is today one of highest subscriber crypto forums. So I do think Reddit rolling out Ethereum-based ERC20 tokens site wide makes sense from an engagement perspective, and will also go a long way in enabling more decentralized and distributed ownership structures, that allow for more effective economic coordination. If Reddit successfully executes on the plan, it will also mean hundreds of millions of people having a new source of income.