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How the fuck would this work, I wonder? I tried to read through some but it makes little sense to me. It sounds like putting karma on blockchain and making it into a currency acting as reddit gold.
Rest is just regular cryptobro talk formulated so that Reddit looks like it cares about communities - or am I missing something?
I don't think you're missing anything.
It's just tradable karma on the blockchain.
Maybe I'll be able to give you reddit gold on lemmy
Community points have been used on the cryptocurrency subreddit for years, now, called Moons. They're fine I guess. You can withdrawal them relatively easily and do whatever with them. They're given out based on up votes
So you can basically cash out if I understad you correctly?
Pretty much. You can use them to get additional rewards in the community and/or withdrawal them out to the Ethereum blockchain if you want to. Could even sell them if anyone would bother to buy
God, but that just seems like the worst. The fun of karma was that it was worthless but hey, a lot of us liked seeing big number go up and that was fulfilling in itself. Now people are going to be incentived to post for the sake of posting to try to earn something. Low effort, contentious, engagement driving spam.
Yeah it's a pretty lame system. It also incentivizes downvoting everyone so you get more of a share of the distributions
Small correction: They're Arbitrum Nova tokens, not ETH tokens anymore.
Greatly saves on gas fees, but Arbitrum Nova has narrower support.
Kraken just added support for Moons and Bricks, so the methods of cashing out are becoming easier.
"We made reddit blockchain crypto NFT ... things!"
"Great, what do they do?"
"Good things! You like good things, right? Think of a good thing. It does that! You'd be too stupid to understand the complicated complexities of the details. Give us your money now."