This is a most excellent place for technology news and articles.
"But there are concerns that programs like this can incentivize spammy posting, or 'engagement bait.' "
The cryptocurrency subreddit started this a while back with their Moons and it completely changed how the whole subreddit worked. The monetary incentive seems to ruin any sort of natural engagement.
Reminds me of the Behavioral Economics classic case of the daycare that started charging for late pickup. Instead of disincentivizing bad behavior, it assigned a price to a service which people became happy to pay, when prior they avoided doing it due to social stigma.
There aren't just concerns, it's a f prediction.
redditors need to earn at least 10 gold within a 30-day period — if they don’t reach the threshold, the balance rolls over. For users with between 100 and 4,999 karma, they will receive $0.90 per 1 gold. Once you earn more than 5,000 karma, you can earn $1 per gold.
Do you think people will buy gold for spam and click bait, though? It's basically a person paying $2 to give the poster $1. Who's going to give money to clickbait?
What it will do is spawn some heavy, heavy super users that will just immediately post every article as soon as it drops from a swath of different websites in hopes of getting paid.
If you thought karma farming on reddit was bad before...
It will make Reddit even more toxic a community.
Hard disagree, bots cant be toxic
You clearly didn’t browse prequelmemes back just before the Reddit exodus.
They should have just given the money to good moderators that clean up their shitty platform
Article title is misleading vs the text.
Everything I read suggests that Reddit will pay you out for Reddit Gold your account earned, not karma.
I don't feel bad for deleting my account with 120,000+ karma.
If you don't get 10 gold each months this karma is 0 dollars
I didn't remove mine but I don't use it. It sits idle there.
No they won't. You need to be getting 10 gold every 30 days. The only people who may get anything of value from this are people who own large subreddits that can set posts by approval only any time news is about to drop.
So... how long before groups of accounts start colluding to upvote each other and generate revenue? like, less than minute? What will prevent bot accounts from upvoting to generate karma?
This can't possibly last more than month before it gets seriously exploited, at which point the company will have to refuse to pay out.
The title is a bit misleading but it doesn't sound like karma can actually be converted to real money.
Reddit gold is going to cost $2 to buy and awarding a user can give them $1 of that if they have over 5,000 karma. Between 100 and 4,999 it's $0.90 per gold.
~~And you have to receive at least 10 gold in a month to be eligible~~. Edit: it apparently rolls over.
Fuck /u/spez
Sadly we're not together anymore. We tried to work it out, but I needed to move on and put that behind me.
To withdraw money, redditors need to earn at least 10 gold within a 30-day period — if they don’t reach the threshold, the balance rolls over.
Weak.
but don't worry they'll still ban you for complete bullshit reasons
for real....my last account, i got banned from r/antiwork for saying eat the rich in relevant context. i appealed the ban, appeal denied. i PM'ed the mod and called him a hypocrite, account banned from reddit for mod harassment. appealed that, was told that was indeed harassment. they killed the API a few months later so I never got around to making another one
I had a similar experience. I don't even remember the sub, but I was banned so I asked why I was banned. Site banned for mod harassment for asking a question. Sucks for them cuz they banned a bunch of bot accounts that I ran as well. This was pre API changes so they still provided value.
A few mods reached out to ask if they could have the bot code but I was like, fuck Reddit lol.
Super unpopular opinion but, I do think there will have to be some middle ground. All of us in Lemmy can see the issues with something beautiful and free thing like this. It exists only thanks to highly skilled people putting in ridiculous hours and the donations of a few folks but shuts down, has trouble scaling up etc.
If we want Lemmy to get big enough that the niche communities thrive, we'll probably need to figure out a way to pay the devs, probably moderators and if we want truly engaging content, the posters.
I don't know what that looks like but the flip side of the "there are only low effort memes and few good in depth discussions" is that we gwt what we pay for. If we don't want ads, some form of direct albeit minimal payment seems like an eventual solution.
Honestly I think the best solution would be what ISPs used to do. They would bundle basic email and usenet and web page with your monthly internet access account. You could pay extra if you needed more, either to the ISP or to a specialist provider. The ISP also helped you connect so non techies could still use email etc. More expensive providers like AOL would provide chat and forums too.
But we've stripped internet access to data access, basically web site loading. I don't think you fix it though because you have to be pretty techie to understand why you'd want a non ad based email provider, forget about why you'd want lemmy / fediverse or usenet, chat etc.
Can I just cash out my karma? I need money lol
Reminds me of How can I convert GTA money into real money
Nah, I'm good on that.
You could already sell your high karma accounts for real money on the black market.
Ha ha! The Asian bot / spam accounts will be going MENTAL.
Those guys you see with 20 phones will need a bigger rack for 100.
bot / spam accounts will be going MENTAL
You can’t earn money this way using bots. Even with full control of an arbitrarily large set of bots, the best you can do is get out 50 cents for every dollar you put in.
That’s still potentially a 50% increase in profits for sold accounts
I don’t care who Reddit sends I’m not logging in.
Oh no. What will happen if I run a bot farm of 10,000 accounts that upvote my sock puppet account?
This is the best summary I could come up with:
Reddit announced a contributor program on Monday, which awards users actual, real money for their fake internet points.
Now, eligible users will be able to convert their Reddit gold and karma into fiat currency (no, not crypto), which is disbursed once per month.
So far, the Reddit contributor program is limited to users in the United States (to start, at least) who are over the age of 18 and can verify their identity via Persona and Stripe.
This feature was leaked about two months ago in Android Authority, when a reverse engineer found data about the program in an APK teardown.
To withdraw money, redditors need to earn at least 10 gold within a 30-day period — if they don’t reach the threshold, the balance rolls over.
Popular third-party apps like Apollo, Reddit is Fun, ReddPlanet and Sync have shut down after these changes.
The original article contains 412 words, the summary contains 144 words. Saved 65%. I'm a bot and I'm open source!
Could be making serious hay paraphrasing quotes from “The Meditations” and making witty remarks and saying absolutely nothing of value
Please don't leave
Ha ha! The Asian bot / spam accounts will be going MENTAL.
Those guys you see with 20 phones will need a bigger rack for 100.
Ha ha! The Asian bot / spam accounts will be going MENTAL.
Those guys you see with 20 phones will need a bigger rack for 100.
