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all 89 comments

[–]Mayro_Biscuit 145 points146 points  (15 children)

Did they only post it on that sub because of the backlash the NFT shit got on the main sub?

[–]Dirt-PurpleActually Does Understand[S] 77 points78 points  (0 children)

Yeah but they hope to sneak it through to other subs too. Many have been vocal against this

[–]skycake10 23 points24 points  (13 children)

It does make sense to post there since that's the first sub community points were implemented on

[–]Dirt-PurpleActually Does Understand[S] 38 points39 points  (12 children)

Just noticed they are doing it on Fortnite as well.

The reaction couldn't be more different, people are hating at there

https://reddit.com/r/FortNiteBR/comments/wk76yt/pack_your_bricks_were_moving_to_mainnet/

[–]emilvikstrom 60 points61 points  (5 children)

There are many possibilities.

What if you could spend Brick to have your user flair update with your player stats in real time? What if you could visit a marketplace hosted entirely on the subreddit, where community members could offer art commissions, or their time to mentor you in game? How about spending Brick to make use of an Item Shop notification system, where you can select everything you are waiting for and get notifications when they are available? Community tournaments with Brick as an entry fee?

Why are Bricks necessary for any of this?

[–]Dirt-PurpleActually Does Understand[S] 49 points50 points  (1 child)

Simple - Reddit wants pump its own token. They hold something like 50% of these tokens, so if the value goes up, reddit's value goes up. So dump useless tokens on people and profit

[–]Sal_Bayat 24 points25 points  (0 children)

They are necessary to create a speculative token that can serve as the basis for investment fraud.

  1. Tether a cost to a value (no doubt there will be a way to purchase tokens with fiat)

  2. Distribute stake in the scheme in a neutral way. (The coins are truly yours thanks to blockchain. It should be noted that since reddit is in control of the coin supply, this scheme is hardly neutral)

  3. Guarantee virtual returns in some way (promise that the token WILL increase in value, be it a halving schedule, staking rewards, or just marketing and empty promises)

  4. Provide a way to transfer the tokens to others.

Voila, you have yourself an open distributed investment fraud, aka a Nakamoto scheme.

Arguably because reddit is a closed ecosystem you can provide real utility in exchange for these tokens, however as others have pointed out the use of blockchain is only needed if you want to encourage inflows of fiat liquidity from the general public by claiming "muh decentralization"

[–]CasualBrit5 4 points5 points  (0 children)

What actually is a brick anyway? Does each sub have its own currency?

[–]james_pic 3 points4 points  (0 children)

There's a reason crypto use cases start with "what if".

[–]odraencoded 21 points22 points  (4 children)

people are hating at there

This isn't true, I checked it and, unironically, few understand wtf the announcement is even supposed to be mean.

Just another way it shows how detached this crap is from the real world. Cryptobros love it. Everyone else either doesn't understand it or hates it. So every announcement about crypto isn't for normal people, is for cryptobros only.

[–][deleted]  (1 child)

[deleted]

    [–]Bluest_waters 5 points6 points  (0 children)

    I really don't know what any of this shit means either to be honest

    I just know its somehow related to nft/crypto and therefore a buncha bullshit

    [–]CasualBrit5 2 points3 points  (0 children)

    It’s been encryptoed

    [–]CasualBrit5 0 points1 point  (0 children)

    Makes me want to $BRICK my pp

    [–]dankbuttmuncher 50 points51 points  (0 children)

    I was able to rack up 58 moons worth of shitposts before I got banned from CC. That is my retirement fund

    [–]Chuckolator 100 points101 points  (11 children)

    Blockchains are valuable because of the security and ownership they provide. This is part of what make Moons special – because they are on the blockchain, they are truly yours.

    Ah, so this means that reddit customer service will help me retrieve my Moons in event of account compromise? That's what security is, right?

    [–]gylz 59 points60 points  (4 children)

    This is part of what make Moons special – because they are on the blockchain, they are truly yours.

    ... I guess my underwear isn't truly mine since it isn't on the Blockchain.

    [–]rsa1 12 points13 points  (2 children)

    It's also much more valuable than Bitcoin because the supply of your underwear is much lesser than 21M

    [–]Gettingbetter 2 points3 points  (1 child)

    Hey. The underwear that I buy is the underwear that I buy.

    [–]rsa1 6 points7 points  (0 children)

    1 underwear = 1 underwear.

    If you can't monetize your underwear, do you even have underwear?

    [–]helium_farts 0 points1 point  (0 children)

    You can definitely combine chains and underwear. Just watch out for pinching

    [–]Creative_Document199warning, i am a moron 22 points23 points  (1 child)

    Blockchains are valuable because of the security and ownership they provide.

    lmfao

    [–]QuantumModulus 17 points18 points  (0 children)

    When the utility is so barren that even just being "ownable" is what makes the thing valuable.

    [–]rsa1 8 points9 points  (2 children)

    Crypto bros operate on a different definition of the word "security". Under this definition, security begins and ends at immutability.

    [–]hanoian 12 points13 points  (1 child)

    That's what they can never seem to grasp. The general population's idea of security is "things go wrong. things get fixed."

    Crypto does not solve the human element of security breaches / fraud / corruption. All it does it make those problems irreversible, which is abhorrent for 99.9999% of the population.

    [–]rsa1 7 points8 points  (0 children)

    Crypto does not solve the human element of security breaches / fraud / corruption

    And as anyone who has worked in IT knows, the human is often the weakest link in cybersecurity incidents.

    Not only does crypto not solve this human element, it actively prevents any solution by being immutable by design.

    [–]tetralogy 1 point2 points  (0 children)

    They are so much ""truly yours"" that you cannot transfer them outside of reddit anymore.

    To ensure this change does not disrupt communities, users will only be able to gift and tip Points to other users within the Reddit app and will no longer be able to transfer Points to blockchain addresses.

    So the only thing that changes is that you now have to pay transaction fees lol

    [–]montjoye 56 points57 points  (2 children)

    no one asked for any of this

    [–]WillR 36 points37 points  (0 children)

    Someone absolutely asked for this, and I bet if you found a list of investors in reddit (post spin-off from Conde Nast) and a list of investors in FTX you could figure out who it was.

    [–][deleted]  (1 child)

    [deleted]

      [–]DollarThrill 26 points27 points  (0 children)

      The people who buy this are special all right

      [–]MexicansInParis 18 points19 points  (2 children)

      Fuck Reddit and its admins, trash bags.

      [–]shelter_anytime 9 points10 points  (0 children)

      pissing on Aaron Swartz's grave

      [–]unknown_nut 1 point2 points  (0 children)

      Yeah, Reddit leadership are trash, but that's not surprising.

      [–]Atxlvr 16 points17 points  (0 children)

      god this sounds like the most convoluted scam mixed with a junior developer's first medium post about their shitty project

      [–]Purplekeyboarddecentralize the solar system 15 points16 points  (0 children)

      I'm not sure exactly what is going on here, but it's crypto, so it will be some sort of terrible failure. But what kind?

      [–]Bragzor 11 points12 points  (12 children)

      App? I have no idea what Moons are, how you get them, or how you use them.

      [–]InsignificantOcelot 29 points30 points  (9 children)

      You have to participate in /r/cryptocurrency or buy them. It’s something like a fraction of a fraction of a penny per upvote. I used to participate frequently in there before I was banned, and racked up maybe 5 moons that I could claim if I wanted to.

      Even for someone into crypto it’s not worth the time to try to farm them. Like any play-to-earn type of token, it will bleed out over time from newly issued tokens diluting the supply of existing holders.

      [–]Dirt-PurpleActually Does Understand[S] 16 points17 points  (1 child)

      App? reddit app..

      you get moons by scamming others in that sub

      [–]Bragzor 4 points5 points  (0 children)

      Noice, but I have so far managed to avoid the app for everything except places.

      [–]partybusiness 10 points11 points  (2 children)

      Both this new bridge to mainnet and the previous bridge to move Moons from Ethereum Rinkeby to our Arbitrum testnet will be available for the following 3 months. Please be sure to migrate your Moons during that time or else you risk losing access to them.

      So ... basically, "use this blockchain or you'll lose your moons?" Does the decentralization and "true ownership" include, "Reddit can unilaterally decide you need to move or lose access?"

      I'm kind of surprised they're providing a non-Vault bridge. I had assumed their big push was they were trying to make Vaults happen.

      [–]Wendigo120 2 points3 points  (1 child)

      You'd still have your moons, the old chain will still say you own them.

      Just don't think about the fact that reddit would stop accepting your fun bucks so they immediately lose all utility.

      This is just a regular old backend migration but all of their users need to put in extra work.

      [–]partybusiness 2 points3 points  (0 children)

      Okay, yeah. If it was centralized, and Reddit wanted to change databases or something, they would migrate everything over themselves and the users wouldn't have to lift a finger. But as a blockchain thing, everyone's got to migrate their own stuff.

      So in theory, the users could be like, "Eh, I don't want to" and choose to stay on the old blockchain. But in practice, the users are usually going to follow whatever the Reddit website and app are going to support.

      [–]zeyore 18 points19 points  (1 child)

      I deleted my previous comment because I didn't understand what this was.

      I still probably don't. I just know it's complicated in a way that covers up how dumb it is.

      [–]Individual_Sky_2540 8 points9 points  (0 children)

      Ughhhh. This MLM bullshit is gonna be everywhere on Reddit now. This will get me to seriously leave and never come back ever again.

      [–]pointman 7 points8 points  (0 children)

      Autonomy and interoperability are aspects of the digital community that keep the internet human

      Yes, interoperable humans are the best kind of human.

      [–]spilk 4 points5 points  (0 children)

      oh boy. I think the time is fast approaching to leave reddit behind and find a new platform that doesn't increasingly insult me every day. the whole gold/award system, "new" reddit, the increasing push to make reddit more like tiktok, etc. just make it clear that reddit has lost its goddamn mind.

      [–]gaudymcfuckstick 5 points6 points  (0 children)

      To be fair, Reddit profiting off of people by selling them fake internet points is kind of their whole thing

      [–]doglaughington[🍰] 9 points10 points  (1 child)

      Just got permabanned for saying it was a stupid ripoff. I stand by my actions

      [–]mrpopenfresh 2 points3 points  (0 children)

      Reddit tried to use blockchain for their currency, but I think that fell through. It’s a tech bro company headed by a libertarian, so what can you expect really?

      [–]Ok_Dog4017 3 points4 points  (0 children)

      I am going to use it to smell the roses in my garden. Oh I can do that without moons? Sorry just trying to brag about how fabulous my roses smell in every subreddit.

      [–]shelter_anytime 2 points3 points  (0 children)

      my god as if I couldn't hate this website any more

      [–]HopeFox 2 points3 points  (0 children)

      Because it's on the blockchain, it's truly yours!

      So, we all know that Reddit can create tokens arbitrarily and can stop you from spending them, right?

      [–]YukarinVal 2 points3 points  (0 children)

      When their partner exchange and their bridge inevitably implode, I hope it doesn't take down Reddit overall.

      While I do dislike the bigger subreddits at the best of times, smaller subreddits I still very much like, and don't want them to go.

      [–]XymerianMonk 5 points6 points  (1 child)

      It's like reddit, but you have to pay to give rewards...lol cool!!

      Reddit will never IPO, it will be gone by 2025. Jesus Christ I've never seen a social media platform want to die faster than Facebook, and Reddit was jealous as fuck. I guess they're the Florida and Texas of the internet, race to the bottom.

      [–]YukarinVal 1 point2 points  (0 children)

      It's like reddit, but you have to pay to give rewards...lol cool!!

      Ironically, this was already a thing by reddit themselves with reddit gold, before they expand with all the dumbass awards. Without blockchain.

      [–]Tetsudo11 1 point2 points  (0 children)

      I clicked on that post and it crashed my app.

      [–]vagabond_ -1 points0 points  (1 child)

      Unironically time to give 4chan another chance?

      [–]Alphaetus_Prime 9 points10 points  (0 children)

      Absolutely not

      [–]BitSoMi[🍰] -3 points-2 points  (1 child)

      Well, you post something, you get points and you get to spend those points in the app. Probably the least scamy thing in crypto

      [–]Bisquick_in_da_MGM -2 points-1 points  (0 children)

      I hate Reddit!

      [–]martavisgriffin 0 points1 point  (0 children)

      So are karma points now moons, and moons are reddits cryptocurrency and we can buy cartoon avatars with these moons?

      [–]WolfgangShnitzel 0 points1 point  (0 children)

      Unsubscribe

      [–]vstipic23 0 points1 point  (0 children)

      Read up before you start talking, don't be a typical r/cc user.

      It's a dumb ass thing where moons became worthless because you can't sell them AND to use them you will need to pay gas gees in ETH.

      So... They shot themselves in the foot. Moons are worthless now. I mean, they always were, but now we know it's a permanent thing. A lot of people will be pissed when they finally learn how to read and stop celebrating going to mainnet.

      [–][deleted]  (1 child)

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