this post was submitted on 15 Jul 2023
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Go on I’ll bite….what now???
No more awards and such, I guess. It will be terminated in September. I came across some screenshots of people attempting to get a refund, explaining that they had purchased so many Reddit coins that they couldn't distribute them before the shutdown. Meanwhile, here I am, observing individuals who possess more wealth in Reddit coins (which hold no real-life value) than I have to buy food for a year. We truly live in a strange world. I don't know why they decided to get rid of it, but it does seem odd, especially considering there are people who even "whale" within the Reddit community.
Earning money for digital worthless stuff is not profitable
They're removing free coins and awards to replace it with something new they'll announce later.
New Currency will be called "Spez Coins" to honor the inventor of Reddit, our glorious leader that will lead us to the future!
/s
Reddit verified. 10$ a month and you get the privilege of sending reddit your id card, so they can link all your posts to your real world identity.
They are hemorrhaging users and replacing the missing activity with bots, but the new bots don't buy gold, so rather than show a month-over-month loss in that revenue stream in their IPO docs, they just cancelled reddit gold.
They also deleted all chat logs prior to this year.
Some block chain thing