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Why would crypto be the missing piece to micro-monetization? You had me till that paragraph but there's no reason Reddit can't pay contributors in cents per tho

Why would crypto be the missing piece to micro-monetization? You had me till that paragraph but there's no reason Reddit can't pay contributors in cents per thousand likes if currency is really the bottleneck. If it can be properly valued, it can already be properly paid.

csdvrx 5y ago
> Why would crypto be the missing piece to micro-monetization? Accounting fees, laws regarding employment, the "tiny problem" of child labor... Something I've found very interesting on reddit gaming subs is how a lot of gamers easily admit they use Bing simply because it gets them a free gamepass every month. Could Microsoft give them an equivalent amount of money? Maybe, but the costs in red tape alone would eat a lot of what they'd get. A gamepass paid by Microsoft rewards points achieve the same thing, without having to consider the legality of say whether compensating someone below 18 to use a search engine could constitute child labor. Microsoft has tried to shove Bing down people throats using various strategies, but this one works! I see it as one early type of micro-monetization, and crypto as what will enable that for most companies who can't mint xbox gamepass :)
- zemvpferreira 5y ago
  I've gone from not giving a shit about crypto to being repulsed by it because of comments like this. Using smilies to convey the benefits of using shitcoins to skirt around child labour laws? Employment laws? And proper accounting/taxation? Thanks but not interested.
  - csdvrx 5y ago
    > Using smilies Is the problem the form, or the message? > And proper accounting/taxation? Interesting, here's yet another person shoving words in my mouth! Nowhere in the above or anywhere else did I even suggest people shouldn't pay the taxes they owe if they make capital gains. And FWIW, taxes are a very small problem in the grand scheme of things: my core argument is about reducing friction, which may allow a missing market, even for companies that are not at the scale of Microsoft and can't mint a gamepass.
- hannasanarion 5y ago
  > Accounting fees, laws regarding employment, the "tiny problem" of child labor... And you think that crypto has no fees, that it can't be taxed, and that children can't get it?
  - csdvrx 5y ago
    > And you think that crypto has no fees, that it can't be taxed, and that children can't get it? I think that companies rolling their own (or adopting low fee ones) can mitigate all this - along with making these problems other people problems (capital gains -> you, KYC -> exchanges!) Oh, and BTW: > that it can't be taxed It's interesting you're shoving these words in my mouth :) I guess it goes with the usual irrational crypto hate that often flies here... but FWIW, I think reddit may be more concerned with the legal implications of paying cash (W9, and OMG the paperwork, accounting etc.) Imagine how much worse it would be for reddit at scale (friction!) About taxes, for a coin, it's up to the individual to declare what they did with that they received, or the parents of said individual :) Then no need to bother with age checks or expose yourself to potentially thorny contractual or PR issues (ex: parents monetizing their kids' videos on youtube) Your hate for all things crypto may prevent you from noticing the huge opportunities that await given the various problems it solves, and which may be all that's needed to create the missing market here.
    - hannasanarion 5y ago
      > I guess it goes with the usual irrational crypto hate that often flies here... but FWIW, I think reddit may be more concerned with the legal implications of paying cash (W9, and OMG the paperwork, accounting etc.) "irrational crypto hate" says the guy who doesn't think that there are any tax forms involved at all when paying people for work in-kind using volatile securities.
      - csdvrx 5y ago
        Well, double down on tax stuff all you want, I replied fairly to your biased views. Your answer makes me think you're missing the forest for the trees if you still refuse to see the reduction in paperwork and the gains from automating/internalizing some stuff that most companies can't do (Microsoft can mint gamepass, what about you?)

csdvrx 5y ago

> Why would crypto be the missing piece to micro-monetization? Accounting fees, laws regarding employment, the "tiny problem" of child labor... Something I've found very interesting on reddit gaming subs is how a lot of gamers easily admit they use Bing simply because it gets them a free gamepass every month. Could Microsoft give them an equivalent amount of money? Maybe, but the costs in red tape alone would eat a lot of what they'd get. A gamepass paid by Microsoft rewards points achieve the same thing, without having to consider the legality of say whether compensating someone below 18 to use a search engine could constitute child labor. Microsoft has tried to shove Bing down people throats using various strategies, but this one works! I see it as one early type of micro-monetization, and crypto as what will enable that for most companies who can't mint xbox gamepass :)

zemvpferreira 5y ago
I've gone from not giving a shit about crypto to being repulsed by it because of comments like this. Using smilies to convey the benefits of using shitcoins to skirt around child labour laws? Employment laws? And proper accounting/taxation? Thanks but not interested.
- csdvrx 5y ago
  > Using smilies Is the problem the form, or the message? > And proper accounting/taxation? Interesting, here's yet another person shoving words in my mouth! Nowhere in the above or anywhere else did I even suggest people shouldn't pay the taxes they owe if they make capital gains. And FWIW, taxes are a very small problem in the grand scheme of things: my core argument is about reducing friction, which may allow a missing market, even for companies that are not at the scale of Microsoft and can't mint a gamepass.
hannasanarion 5y ago
> Accounting fees, laws regarding employment, the "tiny problem" of child labor... And you think that crypto has no fees, that it can't be taxed, and that children can't get it?
- csdvrx 5y ago
  > And you think that crypto has no fees, that it can't be taxed, and that children can't get it? I think that companies rolling their own (or adopting low fee ones) can mitigate all this - along with making these problems other people problems (capital gains -> you, KYC -> exchanges!) Oh, and BTW: > that it can't be taxed It's interesting you're shoving these words in my mouth :) I guess it goes with the usual irrational crypto hate that often flies here... but FWIW, I think reddit may be more concerned with the legal implications of paying cash (W9, and OMG the paperwork, accounting etc.) Imagine how much worse it would be for reddit at scale (friction!) About taxes, for a coin, it's up to the individual to declare what they did with that they received, or the parents of said individual :) Then no need to bother with age checks or expose yourself to potentially thorny contractual or PR issues (ex: parents monetizing their kids' videos on youtube) Your hate for all things crypto may prevent you from noticing the huge opportunities that await given the various problems it solves, and which may be all that's needed to create the missing market here.
  - hannasanarion 5y ago
    > I guess it goes with the usual irrational crypto hate that often flies here... but FWIW, I think reddit may be more concerned with the legal implications of paying cash (W9, and OMG the paperwork, accounting etc.) "irrational crypto hate" says the guy who doesn't think that there are any tax forms involved at all when paying people for work in-kind using volatile securities.
    - csdvrx 5y ago
      Well, double down on tax stuff all you want, I replied fairly to your biased views. Your answer makes me think you're missing the forest for the trees if you still refuse to see the reduction in paperwork and the gains from automating/internalizing some stuff that most companies can't do (Microsoft can mint gamepass, what about you?)